A4 für Copyshop GB.indd - Bayerische Landesbank

160 Report by the Board of Administration, accounts of BayernLB and the BayernLB Group and notes to the accounts
Deferred income
EUR million
This position includes:
BayernLB Group
2004 2003 2004 2003
• Discount on receivables 139 150 167 182
Subordinated liabilities
EUR million
This item includes:
• Due to affiliated companies
BayernLB Group
2004 2003 2004 2003
In the year under review interest
expenses amounted to: 220 244 232 256
On the balance sheet date, funds exceeding 10 percent of the total amount of subordi-
nated liabilities had not been raised.
All subordinated liabilities are issued under the following terms: In the case of the Bank’s
insolvency or liquidation, repayment shall not take place until all non-subordinated cred-
itors have been satisfied. An obligation to make premature repayment at the creditor’s
request cannot arise. The prerequisites under which these subordinated liabilities can be
counted as liable capital pursuant to Section 10, Sub-section 5a German Banking Act
(KWG) are fulfilled.
Equity
Of the capital contributions of silent partners included in the consolidated capital,
EUR 83 million are from minority shareholders.
Liable capital
EUR million
3
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BayernLB Group
2004 2003 2004 2003
The following unrealised reserves count
as part of the liable capital pursuant to
Section 10, Sub-section 2b, Sentence 1,
No. 7 KWG: 59 46 64 59
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