Management Report - Münchener Hypothekenbank eG

Notes >> 40
Public Pfandbriefe outstanding and corresponding cover pools
Nominal value
31 Dec. 2005 € million 31 Dec. 2004 € million
Public Pfandbriefe 16,422.3 16,229.1
Cover pools 17,862.7 18,243.9
of which further cover assets 376.5 380.0
derivatives 0.1 0.1
Excess cover 1,440.4 2,014.8
Net present value
31 Dec. 2005 € million 31 Dec. 2004 € million
Public Pfandbriefe 17,775.0 17,519.5
Cover pools 19,245.1 19,626.0
of which further cover assets 377.1 382.6
derivatives 28.8 20.2
Excess cover 1,470.1 2,106.5
Risk-adjusted net present value *)
31 Dec. 2005 € million 31 Dec. 2004 € million
Value of excess cover after stress test 1,412.9 1,976.6
*) Stress test applying the dynamic approach in accordance with Art. 4 and Art. 5 Pfandbrief-Net Present Value Directive
(PfandBarwertV)
Maturity analysis by residual term 31 Dec. 2005 € million
≤ one year > one year > five years > ten years
≤ five years ≤ ten years
Public Pfandbriefe 3,559.0 5,318.6 3,565.9 3,978.8
Cover pools 3,293.4 8,365.9 4,544.6 1,658.8