Landeskreditbank Baden-Württemberg - L-Bank

Notes to the annual financial statements for
the financial year ended December 31, 2004
Notes to individual balance sheet items
Deferred charges, prepaid expenses and deferred items
Assets
Dec. 31, 2004 Dec. 31, 2003
EUR ’000 EUR ’000
– Difference between net loan proceeds or original cash outlay and lower par
(nominal) value of receivables ..................................... 76,524 78,922
– Difference between amount issued and higher amount repayable of
payables ....................................................... 51,091 55,385
Liabilities to customers
Under this heading are shown:
– Liabilities to affiliated companies ................................... 1,473 14,615
– Liabilities to non-affiliated companies ............................... — —
Fiduciary liabilities
Fiduciary liabilities are divided up into
– Liabilities to credit institutions ..................................... 56,304 66,746
– Liabilities to customers ........................................... 349,986 445,131
Deferred charges, prepaid expenses and deferred items
Liabilities
– Difference between net loan proceeds or original cash outlay and higher par
(nominal) value of receivables ..................................... 41,298 28,982
– Difference between amount issued and lower amount repayable of
payables ....................................................... 11,245 1,477
Subordinated liabilities
This item does not include any liabilities to affiliated or non-affiliated companies
Interest expenses in respect of subordinated liabilities ...................... 28,840 21,493
Individual subordinated issues exceeding 10% of the total amount of the subordinated liabilities break down as
follows:
Currency Amount in millions Interest rate (%) Due on
EUR 250 4.1250 Jan. 14, 2009
All subordinated liabilities constitute supplemental capital exclusively and meet the requirements of the German
Banking Act (Kreditwesengesetz [KWG]). Of significance here is the subordinated nature of the Bank’s
liabilities in relation to all non-subordinated liabilities due to other creditors. In the event of liquidation,
subordinated creditors are only entitled to receive payment after all liabilities due to other creditors have been
paid in full.
Retrospective limitation of the subordinated nature of the liability or the original maturity (of at least five years)
or the agreed period of notice is precluded.
In accordance with state legislation, L-Bank is unable to file for insolvency.
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