COMMERZBANK AKTIENGESELLSCHAFT

Group Financial Statements
376
320 Commerzbank Annual Report 2011
Long-Term Performance Plan (LTPs) Due to the exercise
criteria for LTP plans set out in Note 25 we do not expect these
to pay out at any time up to the expiry of the final plan in 2013.
As a result, the fair value for the outstanding rights could no
longer be determined. The remaining provision of around €1m
for LTP plans was reversed. The number of outstanding LTP
rights changed as follows:
Number of awards (units) 2011 2010
Balance as at 1.1. 947,850 988,400
Granted during the year – –
Forfeited during the year 6,300 40,550
Exercised during the year – –
Expired during the year 262,600 –
Balance as at 31.12. 678,950 947,850
(101) Other commitments
Payment commitments to Group external entities and nonconsolidated
entities on shares not fully paid up amounted to
€56.3m (previous year: €67.8m).
The Bank had an additional funding obligation of up to €96m
(previous year: €96m) to Liquiditäts-Konsortialbank (Liko)
GmbH, Frankfurt am Main. The individual banking associations
have also undertaken additional funding obligations to Liko. To
cover such obligations, Group companies have guaranteed to
Liko as primary obligor that they will meet any payment to their
respective associations.
(102) Lessor and lessee figures
Lessor disclosures – operating leases
Commerzbank acts as a lessor in operating lease arrangements.
As at the balance sheet date these leases primarily comprised
leased real estate and vehicles.
In accordance with Art. 5 (10) of the statutes of the German
banks’ Deposit Insurance Fund, we have undertaken to
indemnify the Association of German Banks, Berlin, for any
losses incurred as a result of support provided for banks in
which Commerzbank holds a majority interest.
Securities with a book value of 7,381m (previous year:
€7,501m) have been deposited as collateral to meet obligations
to futures and options exchanges and clearing houses.
The following minimum leasing payments stemming from noncancellable
leases will accrue to the Commerzbank Group over
the next few years from operating leases granted:
Due date | €m 31.12.2011 31.12.2010
Up to 1 year 196 184
1 year to 5 years 508 572
More than 5 years 69 160
Total 773 916
No conditional lease instalments have been agreed in the leases.