Annual report 2010 - Dexia.com

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