Annual report 2010 - Dexia.com

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Notes to the consolidated financial statementsManagement reportConsolidatedfinancial statementsAdditional information Annual financial statements12.6. Liquidity riskDexia's approach to liquidity risk management has beenreviewed in the light of the financial and liquidity crisis.Overall policy is that its future funding needs should neverexceed its proven secured funding capacity.A. Breakdown residual maturityAssets 31/12/09At sightand ondemandBreakdown of gross amount and premium/discountUp to 3monthsMorethan 3monthsto 1 yearMorethan 1 to5 yearsOver 5yearsSince 2009, Dexia is subject to the liquidity reporting of theBelgian regulator (CBFA).Current accounts and saving deposits are included in thecolumn “At sight and on demand“ even though they haveno fixed repayment date.ImpairmentUndeterminedmaturityAccruedinterestFairvalueadjustmentCash and balances withcentral banks 2,295 373 0 0 0 0 5 0 0 2,673Loans and advances duefrom banks 13,360 19,719 1,903 7,304 4,441 0 128 643 (71) 47,427Loans and advances tocustomers 13,700 13,338 17,689 69,862 229,548 1,236 2,855 9,831 (4,072) 353,987Financial assets held fortrading 4 79 761 1,106 4,579 177 24 (368) 0 6,362Financial assets designatedat fair value 0 2 172 277 147 3,143 4 (30) 0 3,715Financial assets availablefor sale 321 3,337 7,959 27,613 58,695 3,008 1,559 2,046 (853) 103,685Investments held tomaturity 0 101 78 504 833 0 50 0 0 1,566Derivatives 8,129 32,599 0 40,728Fair value revaluation ofportfolio hedge 3,579 3,579Investments in associates 171 171Tangible fixed assets 2,396 2,396Intangible assets andgoodwill 2,177 2,177Tax assets 2,919 2,919Other assets 311 649 233 29 139 817 0 19 (302) 1,895Non-current assets heldfor sale 4,395 0 35 (80) 4,350Total 29,991 37,598 28,795 106,695 298,382 20,439 12,754 48,354 (5,378) 577,630Total230 Dexia Annual report 2010
Notes to the consolidated financial statementsLiabilities 31/12/09At sightand ondemandBreakdown of gross amount and premium/discountUp to 3monthsMore than3 monthsto 1 yearMore than1 to 5yearsOver 5yearsFair valueadjustmentUndeterminedmaturityAccruedinterestDue to banks 18,766 49,588 42,207 5,134 7,605 2 267 155 123,724Customer borrowingsand deposits 73,570 30,373 4,647 8,427 3,052 41 791 49 120,950Financial liabilities heldfor trading 0 102 5 54 101 12 1 0 275Financial liabilitiesdesignated at fair value 0 760 1,082 7,472 6,166 3,121 250 219 19,070Derivatives 10,081 48,283 58,364Fair value revaluation ofportfolio hedge 1,939 1,939Debt securities 474 32,720 24,153 79,651 70,995 0 2,969 2,103 213,065Subordinated debts 1 334 35 717 1,942 895 98 89 4,111Technical provisions ofinsurance companies 9 149 408 4,872 7,912 58 13,408Provisions and otherobligations 1,581 1,581Tax liabilities 238 238Other liabilities 1,891 1,481 112 38 101 958 4 0 4,585Liabilities included indisposal groups heldfor sale 4,332 0 0 4,332Total 94,711 115,507 72,649 106,365 97,874 11,238 14,461 52,837 565,642TotalManagement reportConsolidatedfinancial statementsAt sight andon demandUp to 3monthsMore than 3months to 1year31/12/09More than 1to 5 yearsOver 5yearsUndeterminedmaturityNet liquidity gap (64,720) (77,909) (43,854) 330 200,508 9,201This table does not take into account the liquidity nor theeligibility to refinancing the asset; some listed long-termassets may be sold or refinanced with central banks in caseof need of liquidity.The liquidity position of a bank results from the differencebetween contractual maturities of assets and of liabilities. Thisallows the presentation of the liquidity gap.A bank uses derivatives to hedge its risks. The cash flows aretherefore dependent on the evolution of the underlying index(interest-rate, exchange rate, credit spreads, etc.) for whichexpected cash flows can significantly change. As Dexia usesderivatives for banking and trading activities, including suchexpected cash flows in the table, would make the figuresless relevant for readers. Dexia therefore reports the marketvalue of derivatives in the fair value, in the same way it isreported for fair value adjustments on other financial assetsand liabilities.Additional information Annual financial statementsAnnual report 2010 Dexia231
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4 Group profile8 Message from the c
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Group profileManagement reportConso
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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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Update on the transformation planMa
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StrategyManagement reportConsolidat
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Shareholder informationManagement r
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Human ResourcesMEMBERS OF STAFFGEND
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Human ResourcesFinally, questions r
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Sustainable developmentEnergy perfo
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Risk managementManagement reportCon
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Risk managementThe Operational Risk
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Capital managementManagement report
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Financial resultsConsolidated state
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Financial resultsManagement reportC
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Liabilities Note 31/12/09 31/12/10(
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Consolidated statementof changes in
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Annual report 2010 - Dexia.com

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