2005 Annual Report / CrÃ©dit Agricole (Suisse) SA

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32 – 2005 Annual Report / Crédit Agricole (Suisse) SAReserves for General Banking RisksFree provisions, included in valuation adjustments andprovisions in the individual accounts, are transferred tothe reserves for general banking risks after deductionof a tax provision.Valuation adjustments that are not recognised in theincome statement at the closing date are recorded ina netting account, which is included in “other assets”or “other liabilities” depending on the balance on theaccount.Pension and benefit commitmentsThe Group fulfils its legal obligation to insure employees,in application of pension laws, through the CréditAgricole (Suisse) SA Pension Plan. Crédit Lyonnais(Suisse) SA has a separate pension plan. These twopension schemes are defined contribution plans asrequired under Swiss recommendations for the presentationof accounts no. 16 (RPC 16). Crédit Agricole(Suisse) SA’s pension plan will take over that of CréditLyonnais (Suisse) SA so that their services are combinedas from 1 January 2006. The pension commitments andthe assets covering these commitments are held by alegally independent foundation. Contributions are includedin personnel costs. Furthermore, the foundations managetheir assets through the Group, hence the related positionsare recorded in the latter’s balance sheet.Contingent commitments, irrevocable commitments,commitments to discharge and make supplementarypayments, and confirmed creditsOff-balance sheet items are stated at their nominal value.A provision is raised for identifiable risks and recordedunder liabilities in the balance sheet.Layout of the notes to the consolidated financialstatementsThe numbering of the notes follows the layout stipulatedby the Swiss Federal Banking Commission in its directivesgoverning the preparation of financial statements(DEC-CFB).Changes in accounting principles• Corporation tax is no longer determined based on theconsolidated income statement. Henceforth, provisionsfor consolidated current tax are the sum of the taxcharges determined at the level of each Group entity.The net profit for the year ended 31 December 2005has been reduced by CHF 2,739,000 accordingly.• Capital reserves and revenue reserves are now reportedseparately in the balance sheet. The previous year hasbeen restated to reflect this change.Financial derivativesThe Group uses financial derivatives to manage its balancesheet structure and for trading purposes on behalf of itscustomers.The positive or negative replacement values of all derivativeinstruments outstanding at the balance-sheet date arerecorded gross under “other assets” and “other liabilities”respectively.Trading transactions are marked to market, whereasbalance sheet management transactions are valuedin the same way as the hedged positions.
2005 Annual Report / Crédit Agricole (Suisse) SA – 333. Balance sheet Information3.1 Summary of collateral for loans and off balance sheet transactions(in thousands of CHF)LoansMortgageguaranteesCollateralSecured bycollateral Unsecured TotalDue from clients 69 827 4 098 542 2 713 286 6 881 655MortgagesResidential buildings 291 639 – – 291 639Total loansReference year 361 466 4 098 542 2 713 286 7 173 294Previous year 127 958 2 603 195 970 614 3 701 767Off balance sheet transactionsContingent liabilities 682 1 419 960 5 731 388 7 152 030Irrevocable commitments – 351 876 85 488 437 364Commitments to capitaland supplementary payments – – – –Confirmed credits – 110 23 669 23 779Total off balance sheet transactionsReference year 682 1 771 946 5 840 545 7 613 173Previous year 136 1 111 991 2 335 874 3 448 001(in thousands of CHF)Gross amountEstimatedliquidationvalue ofcollateralNet amountIndividualvaluationadjustmentsImpaired loans / receivablesReference year 284 760 87 002 197 758 197 758Previous year 136 879 18 089 118 790 118 790Consolidated Financial Statements
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2005 Annual Report / CrÃ©dit Agricole (Suisse) SA

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