Annual Financial Statements 2010 of Bank Austria

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Notes to the Financial Statements 4.25.6. Untaxed reserves The valuation reserve resulting from special depreciation was reduced by EUR 21,345.80 to EUR 77,750,835.75. The composition of and changes in untaxed reserves are shown in the following table: Movement in valuation reserve and other untaxed reserves as at 31 December 2010 in EUR 31 Dec. 2009 Transfers Allocations Releases 31 Dec. 2010 Valuation reserve resulting from special 1. depreciation Reserve pursuant to Section 12 of the Austrian Income Tax Act (EStG) Securities 0.00 0.00 0.00 0.00 0.00 Equity interests 83,153.22 0.00 0.00 0.00 83,153.22 Shares in group companies 77,210,933.06 0.00 0.00 0.00 77,210,933.06 Land and buildings 18,066.47 0.00 0.00 0.00 18,066.47 Other tangible fixed assets 76,208.80 0.00 0.00 0.00 76,208.80 Valuation reserve pursuant to Sections 8 and 122 of the Austrian Income Tax Act (EStG) 77,388,361.55 0.00 0.00 0.00 77,388,361.55 Land and buildings 383,820.00 0.00 0.00 -21,345.80 362,474.20 Other tangible fixed assets 0.00 0.00 0.00 0.00 0.00 383,820.00 0.00 0.00 -21,345.80 362,474.20 Total 1 2. Unversteuerte Other untaxed Rücklagen reserves 77,772,181.55 0.00 0.00 -21,345.80 77,750,835.75 Untaxed reserves 0.00 0.00 0.00 0.00 0.00 Total 2 0.00 0.00 0.00 0.00 0.00 Aggregate total 77,772,181.55 0.00 0.00 -21,345.80 77,750,835.75 4.26. Supplementary capital pursuant to Section 23 (7) of the Austrian Banking Act (BWG) As at 31 December 2010, supplementary capital amounted to EUR 452,810,398.10 (31 December 2009: EUR 493,114 thsd). 4.27. Cross-holdings There are no cross-holdings within the meaning of Section 240, item 9, of the Austrian Business Code. Bank Austria – Annual Financial Statements 2010 198
Notes to the Financial Statements 4.28. Assets pledged as security Assets pledged as security pursuant to Section 64 (1) 8 of the Austrian Banking Act (BWG) 31 Dec. 2010 31 Dec. 2009 (in EUR) (in EUR thsd) Cover fund for deposits held in trust for wards and included in liabilities item 2a) 125,010,154.24 121,163 Cover fund for mortgage bonds and public sector mortgage bonds included in liabilities item 3a) 7,874,462,814.31 6,452,906 for own bonds and medium-term notes included in liabilities item 3a) 104,143,720.06 62,169 Total 8,103,616,688.61 6,636,238 Security provided in favour of Oesterreichische Kontrollbank AG (OeKB) for the settlement of securities transactions 50,356,387.72 45,205 Margin requirement in favour of various business partners 1,275,982,175.43 142,223 Claims etc. assigned in favour of OeKB, security deposit with Oesterreichische Nationalbank 3,192,923,207.01 4,921,684 Claims assigned in favour of European Investment Bank, KfW , Oesterreichische Nationalbank; securities pledged 6,844,441,062.60 3,398,979 Security provided in favour of clearing systems (Cedel, Euroclear, Xetra) 128,372,698.18 327,576 Off-balance sheet transactions 4,706,897,610.07 4,891,361 Security provided for securities lending 253,952,500.00 0 Assets pledged in favour of foreign credit institutions and financial institutions which are group companies 197,349,602.70 488,918 Total 16,650,275,243.71 14,215,946 Aggregate total 24,753,891,932.32 20,852,184 The balance sheet item “Savings deposits“ includes deposits held in trust for wards in the amount of EUR 111,990,194.35 (31 December 2009: EUR 114,762 thsd). 4.29. Derivatives business Derivatives shown in the following tables are classified as financial derivatives and credit derivatives, according to the underlying financial instrument. In these categories, a distinction is made between trading book and banking book and between different counterparties. UniCredit Bank Austria AG’s business volume in derivatives focuses on interest rate contracts. Over-the-counter transactions are individual agreements concerning volume, maturities and underlying instrument. In large-volume interbank trading, these agreements reflect international practice, while in customer business they are usually adjusted to specific needs. Exchange-traded contracts are always standardised in respect of volume and maturity date. Derivatives are mainly used by the bank itself for hedging market risk and credit spread risk arising from new issue activities. In customer business, market participants include banks, securities houses, mutual funds, pension funds and corporate customers. Trading in derivatives at Bank Austria is primarily related to the hedging of positions entered into vis-àvis customers. For the purposes of portfolio and risk management, contracts are valued at current prices using recognised and tested models. Market values show the contract values as at the balance sheet date, positive market values indicate the potential default risk arising from the relevant activity. For the purposes of portfolio management and risk limitation in the derivatives business with banks and customers, UniCredit Bank Austria AG uses a Monte Carlo path simulation to estimate the potential future exposure at portfolio level for each counterparty. The calculations are based on market volatility, correlations between specific risk factors, future cash flows and stress considerations. Netting agreements and collateral agreements are also taken into account for simulation purposes. The simulation calculations are performed for all major types of transactions, e.g. forward foreign exchange transactions, commodity futures transactions, interest rate instruments, securities lending transactions and repurchase agreements, equity-related, commodity-related or inflation-related instruments and credit derivatives. Other (exotic) products are taken into account with an add-on factor (depending on volatility and maturity). The bank applies a confidence interval of 97.5%. Bank Austria – Annual Financial Statements 2010 199
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Annual Financial Statements 2010 of
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Bank Austria at a Glance Income sta
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Management Report Consolidated Fina
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Management Report Management Report
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Annual Financial Statements 2010 of Bank Austria

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