annual report - Hypo Real Estate Holding AG

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Group Accounts b) Loans and advances to banks and customers Loans and advances are net of provisions for impairment. The estimated fair value of loans and advances represents the discounted amount of estimated future cash flows expected to be received. Expected cash flows are discounted at current market rates to determine fair value. c) Deposits and borrowings The estimated fair value of deposits with no stated maturity, which includes non interest bearing deposits, is the amount repayable on demand. The estimated fair value of fixed interest bearing deposits and other borrowings without a quoted market price is based on discounted cash flows using interest rates for new debts with similar remaining maturity. d) Debt securities in issue The aggregate fair values are calculated based on quoted market prices. For those notes where quoted market prices are not available, a discounted cash flow model is used based on a current yield curve appropriate for the remaining term to maturity for a similar credit rating. 46. Gains and losses from fair value adjustments for recognised assets and liabilities The following table details the gains and losses from fair value adjustments relating to available-for-sale investment securities, financial assets at fair value through profit or loss, and from hedge accounting: Group 2007 Financial Fair value AFS instruments Total fair hedge investment at fair value value accounting securities through P&L adjustments Assets € m € m € m € m Loans and advances to banks -491 - - -491 Other financial instruments at fair value through profit or loss - - -634 -634 Loans and advances to customers 1,303 - - 1,303 Investment securities – available-for-sale -420 -188 - -608 Total assets 392 -188 -634 -430 Liabilities Deposits from banks 63 - - 63 Other deposits 5 - - 5 Due to customers -426 - - -426 Debt securities in issue -589 - - -589 Other borrowed funds -27 - - -27 Total liabilities -974 - - -974 Hedging instruments -1,336 - 620 -716 Net equity (pre-tax) 30 -188 -14 -172 180
Company 2007 Risikoberichtbericht Financial Fair value AFS instruments Total fair hedge investment at fair value value accounting securities through P&L adjustments Assets € m € m € m € m Loans and advances to banks -379 - - -379 Other financial instruments at fair value through profit or loss - - -634 -634 Loans and advances to customers 1,882 - - 1,882 Investment securities – available-for-sale 177 -84 - 93 Total assets 1,680 -84 -634 962 Liabilities Group 2006 Financial Fair value AFS instruments Total fair hedge investment at fair value value accounting securities through P&L adjustments Assets € m € m € m € m Loans and advances to banks 70 - - 70 Other financial instruments at fair value through profit or loss - - 3 3 Loans and advances to customers -3,383 - - -3,383 Investment securities – available-for-sale -2,941 -6 - -2,947 Total assets -6,254 -6 3 -6,257 Liabilities Deposits from banks -11 - - -11 Other deposits 3 - - 3 Due to customers -25 - - -25 Debt securities in issue -2,959 - - -2,959 Other borrowed funds -8 - - -8 Total liabilities -3,000 - - -3,000 Hedging instruments 3,257 - 3 3,260 Net equity (pre-tax) 3 -6 6 3 Deposits from banks 21 - - 21 Other deposits 5 - - 5 Due to customers -2 - - -2 Debt securities in issue -121 - - -121 Other borrowed funds - - - - Total liabilities -97 - - -97 Hedging instruments -1,757 - 620 -1,137 Net equity (pre-tax) 20 -84 -14 -78 181
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2007 DEPFA BANK plc annual report
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Profile ❚ The only globally opera
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■ Europe incl. EMEA and CIS (Lond
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Risikoberichtbericht Accounts 76 Di
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Millau Viaduct, France
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Client: The Region of Campania, Ita
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Corporate Highlights 2007 10 10 Q1:
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John Kirwan: “This award winning
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Executive Directors 14 Paul Leather
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Dr. Christian Kummert: “Probably
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Management Discussion - Segments Ma
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Management Discussion - Segments co
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Management Discussion - Segments be
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Management Discussion - Segments Di
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Management Discussion - Segments in
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Capital Beltway HOT Lanes in Virgin
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Aguas de Portugal (AdP), Portugal
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Public Sector and Infrastructure Fi
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Vincent Matrone: “We were the lea
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Marnin Lebovits: “The State of Mi
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Export-Import Bank of Korea
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Sam Miller: “The transaction with
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Puerto Rico Sales Tax Financing Cor
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Energinet, Denmark
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Management Discussion - Segments Cl
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Management Discussion - Segments DE
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Management Discussion - Segments Re
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Management Discussion - Segments Th
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Project Omega, Northern Ireland
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Business Performance Business Perfo
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Business Performance Balance Sheet
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Business Performance forms of capit
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Client: Bulgarian State Railways (B
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Client: Royal BAM (BAM PPP Limited)
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Risk Committee Ms. B. von Oesterrei
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Directors’ and Secretary’s inte
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Risikoberichtbericht The credit pro
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Risikoberichtbericht Branches outsi
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Risikoberichtbericht Independent Au
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Risikoberichtbericht We have obtain
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Risikoberichtbericht Consolidated b
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Consolidated statement of changes i
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Consolidated cash flow statement Ca
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Notes to the consolidated financial
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Risikoberichtbericht Expenses incur
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Risikoberichtbericht (b) Loans and
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Risikoberichtbericht Hedging deriva
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Risikoberichtbericht (vi) observabl
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Risikoberichtbericht Cash and cash
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Risikoberichtbericht Share capital
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Risikoberichtbericht Standards, ame
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Risikoberichtbericht Credit Committ
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Risikoberichtbericht Asset and Liab
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Risikoberichtbericht The portfolio
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Risikoberichtbericht Assessing cred
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Company On-Balance Sheet December 2
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Company On-Balance Sheet December 2
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DEPFA’s Counterparty Risk Pools R
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Risikoberichtbericht Credit Risk Ma
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Risikoberichtbericht Further Credit
Page 133 and 134: DEPFA Deutsche Pfandbriefbank AG
Page 135 and 136: Risikoberichtbericht As can be seen
Page 137 and 138: The HRE Group risk management commi
Page 139 and 140: Risikoberichtbericht As at 31 Decem
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Page 143 and 144: Risikoberichtbericht 5. Operational
Page 145 and 146: Risikoberichtbericht 7. Compliance
Page 147 and 148: Risikoberichtbericht Taxation The t
Page 149 and 150: Risikoberichtbericht Corporate Infr
Page 151 and 152: 6. Net interest income Interest and
Page 153 and 154: 10. Other operating income Other op
Page 155 and 156: Risikoberichtbericht 14. Result fro
Page 157 and 158: Risikoberichtbericht Operating expe
Page 159 and 160: Cashflows from discontinued operati
Page 161 and 162: 17. Trading assets 18. Derivative f
Page 163 and 164: Risikoberichtbericht Futures are st
Page 165 and 166: Risikoberichtbericht At 31 December
Page 167 and 168: Allowance for losses on loans and a
Page 169 and 170: Shares in Group undertakings are in
Page 171 and 172: 24. Property, plant and equipment R
Page 173 and 174: 29. Debt securities in issue 30. Ot
Page 175 and 176: Deferred income tax assets and liab
Page 177 and 178: (b) Loan commitments Risikoberichtb
Page 179 and 180: Details of the share awards of Hypo
Page 181 and 182: 40. Other reserves Unrealised gains
Page 183: Risikoberichtbericht 45. Fair value
Page 187 and 188: Risikoberichtbericht 47. Acquisitio
Page 189 and 190: Risikoberichtbericht 49. Capital ma
Page 191 and 192: Nicosia Branch 10 Diomidous Street,
Page 193: DEPFA BANK plc Member of Hypo Real
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