COMMERZBANK AKTIENGESELLSCHAFT

Group Financial Statements
348
292 Commerzbank Annual Report 2011
Financial liabilities Level I Level II Level III Total Level I 1 Level II 1 Level III Total
€bn 31.12.2011 31.12.2010
Liabilities to banks At fair value through
profit or loss 0.1 12.9 – 13.0 0.6 41.9 – 42.5
Liabilities to customers At fair value through
profit or loss 1.5 30.4 – 31.9 1.3 18.4 – 19.7
Securitised liabilities At fair value through
profit or loss 3.1 – – 3.1 3.2 – – 3.2
Negative fair values of derivative
hedging instruments Hedge accounting – 11.4 – 11.4 – 9.4 – 9.4
Trading liabilities Held for trading 11.6 124.8 1.4 137.8 21.0 130.1 1.3 152.4
of which negative fair values
from derivatives – 124.7 1.2 125.9 – 130.1 – 130.1
Subordinated capital At fair value through
profit or loss – – – – – – – –
Total 16.3 179.5 1.4 197.2 26.1 199.8 1.3 227.2
1 Prior-year figures restated (trading liabilities only).
In 2011 we reclassified €0.6bn for positive market values and
€0.2bn for negative market values of certain derivative products
from Level II to Level III, as no observable market data was
available for valuing these products. Beyond these, there were
no other significant reclassifications between Level I, Level II
and Level III. The changes in financial instruments in the Level
III category in financial year 2010 were as follows:
Financial assets
Trading assets Positive fair
values of
€m
derivatives1 At fair value
through profit
or loss2 Available-for-sale Total
financial assets
Fair value as at 1.1.2010 1,290 3,799 972 1,229 7,290
Changes in the group of consolidated companies
Gains or losses recognised in the
– – – – –
income statement during the period 537 – – 419 – 118
Gains or losses recognised in equity – – – 453 453
Purchases 37 – – 205 242
Sales – – – – 67 – 67
Issues – – – – –
Redemptions – – – – 170 – 170
Reclassifications 1,447 – 3,106 93 – 356 – 1,922
Fair value as at 31.12.2010 3,311 693 646 1,294 5,944
Changes in the group of consolidated companies
Gains or losses recognised in the
– – – – –
income statement during the period 173 – 7 – – 166
Gains or losses recognised in equity – – 11 – 11
Purchases 80 154 – 456 690
Sales – 863 – 113 – – 20 – 996
Issues – – – – –
Redemptions – 194 – 59 – – 622 – 875
Reclassifications – 819 1,868 – 291 – 270 488
Fair value as at 31.12.2011 1,688 2,536 355 827 5,406
1 Including hedging instruments.
2 Excluding trading assets and positive fair values attributable to derivatives.