Annual Report & Accounts 2009 - Anglo Irish Bank

Notes to the financial statements continued
51. Risk management and control continued
120
Treasury credit risk continued
Maximum exposure to credit risk
The following table presents the Group's maximum exposure to credit risk before collateral or other credit enhancements.
Included below are contingent liabilities and commitments to lend, which are not recognised in the consolidated statement of
financial position, which the Group does not expect to be fully drawn.
Exposures in the consolidated statement of financial position
Cash and balances with central banks
Financial assets at fair value through profit or loss - held on own account *
Derivative financial instruments
Loans and advances to banks
Assets classified as held for sale **
Available-for-sale financial assets *
Loans and advances to customers
Exposures not recognised in the consolidated statement of financial position
Contingent liabilities
Commitments to lend
Maximum exposure to credit risk
* Excludes equity shares
** Excludes non-financial assets of €12m at 30 September 2008
31 December 30 September
2009 2008
€m €m
302 1,822
76 163
2,483 1,995
7,342 13,854
25,892 -
7,890 8,152
31,623 73,157
344 736
1,858 6,282
77,810 106,161
Where financial instruments are recorded at fair value, the amounts shown above represent the current credit risk exposure but
not the maximum risk exposure that could arise as a result of changes in fair value.
Loans and advances to customers include €771m (30 September 2008: €1,006m) lent to fund assets held in respect of liabilities
to customers under investment contracts (note 40) as the Group is exposed to credit risk in respect of this lending.
Loans and advances to banks exclude €18m (30 September 2008: €148m) advanced on behalf of policyholders under
investment contracts (note 40) as the Group is not exposed to credit risk in respect of these advances.
Contingent liabilities includes €270m (30 September 2008: €624m) in respect of financial guarantees.
The Group