Presentation (correction slide 18) - Dexia.com
Presentation (correction slide 18) - Dexia.com
Presentation (correction slide 18) - Dexia.com
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By 2014: Ability to <strong>com</strong>plete deleveraging plan at<br />
contained losses<br />
Good mix of Core and Legacy bonds<br />
Bond portfolio – View per rating (1H10)<br />
Capacity to deleverage at contained loss<br />
rates<br />
AAA<br />
24,6%<br />
AA<br />
31,1%<br />
Diversified mix of assets<br />
• Mostly liquid bonds<br />
NIG<br />
3,4%<br />
BBB<br />
<strong>18</strong>,1%<br />
A<br />
22,8%<br />
Total:<br />
EUR 145 bn<br />
• Existing appetite for specific long-term assets<br />
• Possibility to deleverage unhedged bond<br />
positions in ALM portfolios, allowing to<br />
<strong>com</strong>pensate credit losses by interest rate gains<br />
Bond portfolio – View per maturity (1H10)<br />
Total:<br />
EUR 145 bn<br />
24-hour execution platform operating in<br />
Europe, North America and Asia<br />
• Facilitating good execution in different<br />
currencies<br />
• Global market data accessible to and shared by<br />
bond portfolio managers<br />
Targeted and opportunistic bond sales<br />
• Small ticket size: EUR 20 m on average<br />
35
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