Presentation (correction slide 18) - Dexia.com
Presentation (correction slide 18) - Dexia.com
Presentation (correction slide 18) - Dexia.com
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Significant improvement of Group short-term liquidity<br />
profile<br />
Reduction of <strong>Dexia</strong> short-term funding need<br />
Rebalancing of short-term funding mix<br />
(EUR bn)<br />
(EUR bn)<br />
300<br />
EUR 260 bn as<br />
of end Oct 2008<br />
300<br />
Bilateral &<br />
Triparty repo<br />
Central bank<br />
funding<br />
Unsecured<br />
unguaranteed<br />
Short-term<br />
guaranteed<br />
200<br />
EUR 121 bn<br />
as of end<br />
Sept 2010<br />
200<br />
23%<br />
100<br />
0<br />
Oct 08 Jan 09 Jun 09 Dec 09 Jun 10 Sept 10<br />
100<br />
0<br />
52%<br />
11%<br />
14%<br />
Dec 08<br />
20%<br />
43%<br />
40%<br />
Dec 09 Mar 10 Jun 10 Sept 2010<br />
83%<br />
vs. 25%<br />
in Dec<br />
2008<br />
Short-term funding need down EUR 139 bn<br />
between end of October 2008 and end of<br />
September 2010<br />
Deleveraging policy, refocused PWB<br />
production and targeted long-term issuance,<br />
also enabling significant reduction of the<br />
non-Euro liquidity gap<br />
Outstanding of remaining short-term<br />
Government guaranteed funding reduced<br />
to nil as of end of September 2010<br />
Shift from Central bank funding to longer<br />
term bilateral and triparty repo<br />
• Central bank funding converging towards EUR<br />
20 bn at end of 2010 (50% of pre-crisis level)<br />
22
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