Annual report 2010 - Dexia.com

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Notes to the consolidated financial statementsManagement reportConsolidatedfinancial statementsAdditional information Annual financial statementsG. Credit-risk information for loans designated at fair value through profit orlossMaximumexposure to credit riskMaximumexposure to credit risk31/12/09Amount of change in loans at fair value through profit and loss attributable tochanges in the credit riskChange of the periodCumulative amount49 1 131/12/10Amount of change in loans at fair value through profit and loss attributable tochanges in the credit riskChange of the periodCumulative amount37 0 1No credit derivative is held to mitigate the maximum exposure to credit risk.Dexia estimates the fair value of the loans by calculating the amount of future contractual cash flows from the assets anddiscounting the payments to a present value at a discount rate that reflects the uncertainty associated with those payments.The change in credit spread is not significant and credit risk is not hedged.H. Credit-risk information about financial liabilities designated at fair valuethrough profit or lossCarrying amount31/12/09Amount of change in fair value attributable tochanges in the credit risk of the liabilityChange of the periodCumulative amountDifference between carryingamount and contractual amountrequired to be paid at maturity (1)19,070 161 (313) 170(1) This amount includes the premium/discount and the accumulated change in the market value.The change of the period results from the decrease of Dexia's credit spread.Carrying amount31/12/10Amount of change in fair value attributable tochanges in the credit risk of the liabilityChange of the periodCumulative amountDifference between carryingamount and contractual amountrequired to be paid at maturity (1)19,390 10 (303) 354(1) This amount includes the premium/discount and the accumulated change in the market value.See also note 8.3. Financial liabilities measured at fair value through profit or loss-Financial liabilities designated at fair value.220 Dexia Annual report 2010
Notes to the consolidated financial statements12.3. Information about collateralsA. Assets received as collateral if this collateral can be sold or repledgedAssets received as collateral Collateral received as at 31 Dec. 2009 Collateral received as at 31 Dec. 2010Fair values ofcollateral heldFair value ofcollateral sold/repledgedFair values ofcollateral heldFair value ofcollateral sold/repledgedEquity instruments 795 0 596 0Debt instruments 4,930 1,795 8,199 3,028Loans and advances 178 165 222 179Cash collaterals 5,625 5,625 4,417 4,417Total 11,528 7,585 13,434 7,624Management reportCollaterals are obtained within the framework of repurchase agreement activities and of bond lending activities.Cash is obtained as collateral within the framework of Credit Support Annex (CSA).Contracts which determine the conditions of repledge are either Overseas Securities Lending Agreement (OSLA) – possiblyamended by the legal department or the ones written by the legal department. Repledge is an usual market practice.Figures as at 31 December 2009 have been restated.B. Information on financial assets pledged as collateralCarrying amount of financial assets pledgedas collateral as at 31 Dec. 2009Carrying amount of financial assets pledgedas collateral as at 31 Dec. 2010For liabilities For contingent liabilities For liabilities For contingent liabilities158,309 0 144,499 0Assets are mainly pledged to collateralise repurchase agreements and debts to central banks and to the European CentralBank.Carrying amount is not limited to the amount effectively borrowed.Cash is given as collateral within the framework of Credit Support Annex (CSA) (see notes 7.3.A and 7.4.B).Repurchase agreements reimbursement amount was EUR 53 billion as at 31 December 2009 and EUR 54 billion as at31 December 2010.Figures as at 31 December 2009 have been restated.Consolidatedfinancial statementsAdditional information Annual financial statementsAnnual report 2010 Dexia221
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4 Group profile8 Message from the c
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Group profileRESULTS Dexia GAAP IFR
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Message from the ChairmenManagement
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2010 and early 2011 highlightsManag
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2010 and early 2011 highlightsDecem
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Update on the transformation planMa
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Human ResourcesMEMBERS OF STAFFGEND
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Annual report 2010 - Dexia.com

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