COMMERZBANK AKTIENGESELLSCHAFT

To our Shareholders Corporate Responsibility Management Report Risk Report Group Financial Statements Further Information 303 359
258 202 Statement of comprehensive income
260 204 Balance sheet
262 206 Statement of changes in equity
264 208 Cash flow statement
266 210 Notes
409 353 Auditors’ report
Other notes
(91) Subordinated assets
The following subordinated assets were included in the assets shown in the balance sheet:
€m 31.12.2011 31.12.2010 Change in %
Claims on banks 56 66 – 15.2
Claims on customers 564 529 6.6
Trading assets 147 222 – 33.8
Financial investments 519 41 .
Total 1,286 858 49.9
of which on or in banks in which an equity holdings exists – 1 – 100.0
Assets are considered to be subordinated if the claims they represent may not be met until after those of other creditors in the event of
the liquidation or insolvency of the issuer.
(92) Contingent liabilities and irrevocable lending commitments
The Commerzbank Group extends credit facilities to its
customers, granting them rapid access to funds to meet their
short-term and long-term financing needs. The credit facilities
can be provided in different forms, as shown in the following
examples:
• Guarantees, where the Group guarantees the repayment of a
loan borrowed by a customer from another party;
• Standby letters of credit, which enhance a customer’s credit
standing and enable the customer to obtain trade finance at a
lower cost;
• Documentary credits for trade finance payments, which are
made on behalf of a customer and where the Group is
reimbursed at a later date;
• Standby facilities for short-term debt instruments and debt
paper issued on a revolving basis, which enable customers to
issue money market paper or medium-term debt instruments
when needed without having to go through the normal issue
procedure every time.
Customers’ total exposure under loans and guarantees may be
secured by collateral. In addition third parties may have subparticipations
in irrevocable lending commitments and
guarantees.
The figures listed in the table below would only have to be
written off, if all customers utilised their facilities completely and
then defaulted (and there was no collateral). However, in
practice the majority of these facilities expire without ever being
utilised. As a result these amounts are unrepresentative in terms
of assessing risk, the actual future loan exposure or resulting
liquidity requirements. The risk report contains further
information on credit risk arising from financial guarantee
contracts and irrevocable lending commitments as well as on the
monitoring and management of liquidity risks.
Group Financial Statements