SEC Form 20-F - Deutsche Bank Annual Report 2012

More documents

Recommendations

Info

Deutsche Bank Additional Notes F-162 Annual Report 2010 on Form 20-F 37 – Related Party Transactions 37 – Related Party Transactions Parties are considered to be related if one party has the ability to directly or indirectly control the other party or exercise significant influence over the other party in making financial or operational decisions. The Group’s related parties include — key management personnel, close family members of key management personnel and entities which are controlled, significantly influenced by, or for which significant voting power is held by key management personnel or their close family members, — subsidiaries, joint ventures and associates, and — post-employment benefit plans for the benefit of Deutsche Bank employees. The Group has several business relationships with related parties. Transactions with such parties are made in the ordinary course of business and on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with other parties. These transactions also did not involve more than the normal risk of collectibility or present other unfavorable features. Transactions with Key Management Personnel Key management personnel are those persons having authority and responsibility for planning, directing and controlling the activities of Deutsche Bank, directly or indirectly. The Group considers the members of the Management Board and of the Supervisory Board to constitute key management personnel for purposes of IAS 24. The following table presents the compensation expense of key management personnel. in € m. 2010 2009 2008 Short-term employee benefits 23 22 9 Post-employment benefits 3 3 3 Other long-term benefits 3 – – Termination benefits 2 – – Share-based payment 6 7 8 Total 37 32 20 Among the Group’s transactions with key management personnel as of December 31, 2010 were loans and commitments of € 10 million and deposits of € 9 million. In addition, the Group provides banking services, such as payment and account services as well as investment advice, to key management personnel and their close family members. In 2010, a member of key management personnel received payments from a Group company. The contractually enforceable payments are not included within compensation expense of key management disclosed above. At the time the contractual arrangement was executed the payor company was not included in the Group of consolidated companies.
Deutsche Bank Additional Notes F-163 Annual Report 2010 on Form 20-F 37 – Related Party Transactions Transactions with Subsidiaries, Joint Ventures and Associates Transactions between Deutsche Bank AG and its subsidiaries meet the definition of related party transactions. If these transactions are eliminated on consolidation, they are not disclosed as related party transactions. Transactions between the Group and its associated companies and joint ventures also qualify as related party transactions and are disclosed as follows. Loans in € m. 2010 2009 Loans outstanding, beginning of year 965 834 Loans issued during the year 1 3,564 366 Loan repayment during the year 148 209 Changes in the group of consolidated companies 2 (179) (83) Exchange rate changes/other 16 57 Loans outstanding, end of year 3 4,218 965 Other credit risk related transactions: Allowance for loan losses 31 4 Provision for loan losses 26 31 Guarantees and commitments 4 231 135 1 The increase in loans issued as of December 31, 2010 is mainly due to the restructuring of a loan transaction. For further detail please see Note 17 “Equity Method Investments”. Related interest income to these loans amounted up to € 24 million. 2 In 2010, some entities were fully consolidated. In 2009, one entity that was accounted for using the equity method was sold. Therefore loans made to these investments were eliminated on consolidation. 3 Loans past due were nil as of December 31, 2010 and totaled € 15 million as of December 31, 2009. For the above loans the Group held collateral of € 299 million and € 375 million as of December 31, 2010 and as of December 31, 2009, respectively. Loans included loans to joint ventures of € 4 million both as of December 31, 2010 and December 31, 2009. For these loans no loan loss allowance was required. 4 Includes financial and performance guarantees, standby letters of credit, indemnity agreements and irrevocable lending-related commitments. Deposits in € m. 2010 2009 Deposits outstanding, beginning of year 367 246 Deposits received during the year 160 287 Deposits repaid during the year 220 161 Changes in the group of consolidated companies 1 (93) (6) Exchange rate changes/other 2 1 Deposits outstanding, end of year 2 216 367 1 In 2010, some entities were fully consolidated. In 2009, one entity with related party deposits that was accounted for using the equity method was sold. 2 The deposits are unsecured. Deposits include also € 0.4 million deposits from joint ventures both as of December 31, 2010 and December 31, 2009. Other Transactions Trading assets and positive market values from derivative financial transactions with associated companies amounted to € 140 million as of December 31, 2010 and € 3.7 billion as of December 31, 2009. Trading liabilities and negative market values from derivative financial transactions with associated companies amounted to € 15 million as of December 31, 2010 and € 3.0 billion as of December 31, 2009. The decrease was mainly attributable to one entity that was fully consolidated and was previously accounted using the equity method. Other transactions with related parties also reflected the following:
Page 1:
Deutsche Bank Annual Report 2010 on
Page 4 and 5:
Page 6 and 7:
Page 8 and 9:
Page 11 and 12:
Deutsche Bank Item 3: Key Informati
Page 13 and 14:
Page 15 and 16:
Page 17 and 18:
Page 19 and 20:
Page 21 and 22:
Page 23 and 24:
Page 25 and 26:
Page 27 and 28:
Page 29 and 30:
Page 31 and 32:
Page 33 and 34:
Page 35 and 36:
Page 37 and 38:
Page 39 and 40:
Page 41 and 42:
Page 43 and 44:
Page 45 and 46:
Page 47 and 48:
Page 49 and 50:
Page 51 and 52:
Page 53 and 54:
Page 55 and 56:
Page 57 and 58:
Page 59 and 60:
Page 61 and 62:
Page 63 and 64:
Page 65 and 66:
Page 67 and 68:
Page 69 and 70:
Page 71 and 72:
Page 73 and 74:
Page 75 and 76:
Page 77 and 78:
Page 79 and 80:
Page 81 and 82:
Page 83 and 84:
Page 85 and 86:
Page 87 and 88:
Page 89 and 90:
Page 91 and 92:
Page 93 and 94:
Page 95 and 96:
Page 97 and 98:
Page 99 and 100:
Page 101 and 102:
Page 103 and 104:
Page 105 and 106:
Page 107 and 108:
Page 109 and 110:
Page 111 and 112:
Page 113 and 114:
Page 115 and 116:
Page 117 and 118:
Page 119 and 120:
Page 121 and 122:
Page 123 and 124:
Page 125 and 126:
Page 127 and 128:
Page 129 and 130:
Page 131 and 132:
Page 133 and 134:
Page 135 and 136:
Page 137 and 138:
Page 139 and 140:
Page 141 and 142:
Page 143 and 144:
Page 145 and 146:
Page 147 and 148:
Page 149 and 150:
Page 151 and 152:
Page 153 and 154:
Page 155 and 156:
Page 157 and 158:
Page 159 and 160:
Page 161 and 162:
Page 163 and 164:
Page 165 and 166:
Page 167 and 168:
Page 169 and 170:
Page 171 and 172:
Page 173 and 174:
Page 175 and 176:
Page 177 and 178:
Page 179 and 180:
Page 181 and 182:
Page 183 and 184:
Page 185 and 186:
Page 187 and 188:
Page 189 and 190:
Page 191 and 192:
Page 193 and 194:
Page 195 and 196:
Page 197 and 198:
Page 199 and 200:
Page 201 and 202:
Deutsche Bank Item 15: Controls and
Page 203 and 204:
Deutsche Bank Item 16A: Audit Commi
Page 205 and 206:
Deutsche Bank Item 16C: Principal A
Page 207 and 208:
Deutsche Bank Item 16E: Purchases o
Page 209 and 210:
Deutsche Bank Item 16G: Corporate G
Page 211 and 212:
Deutsche Bank Item 16G: Corporate G
Page 213 and 214:
Deutsche Bank Item 19: Exhibits 203
Page 215 and 216:
Deutsche Bank Aktiengesellschaft Co
Page 217 and 218:
Deutsche Bank Deutsche Bank Aktieng
Page 219 and 220:
Deutsche Bank Consolidated Financia
Page 221 and 222:
Page 223 and 224:
Page 225 and 226:
Deutsche Bank Notes to the Consolid
Page 227 and 228:
Page 229 and 230:
Page 231 and 232:
Page 233 and 234:
Page 235 and 236:
Page 237 and 238:
Page 239 and 240:
Page 241 and 242:
Page 243 and 244:
Page 245 and 246:
Page 247 and 248:
Page 249 and 250:
Page 251 and 252:
Page 253 and 254:
Page 255 and 256:
Page 257 and 258:
Page 259 and 260:
Page 261 and 262:
Page 263 and 264:
Page 265 and 266:
Page 267 and 268:
Page 269 and 270:
Page 271 and 272:
Page 273 and 274:
Page 275 and 276:
Page 277 and 278:
Page 279 and 280:
Page 281 and 282:
Page 283 and 284:
Page 285 and 286:
Page 287 and 288:
Page 289 and 290:
Page 291 and 292:
Page 293 and 294:
Page 295 and 296:
Page 297 and 298:
Page 299 and 300:
Page 301 and 302:
Page 303 and 304:
Page 305 and 306:
Page 307 and 308:
Page 309 and 310:
Page 311 and 312:
Page 313 and 314:
Page 315 and 316:
Page 317 and 318:
Page 319 and 320:
Page 321 and 322:
Page 323 and 324:
Page 325 and 326: Deutsche Bank Notes to the Consolid
Page 351 and 352: Deutsche Bank Additional Notes F-13
Page 375: Deutsche Bank Additional Notes F-16
Page 395 and 396: Deutsche Bank Supplemental Financia
Page 416: 2011 April 28, 2011 Interim Report
show all

SEC Form 20-F - Deutsche Bank Annual Report 2012

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?