Annual report 2009 - Dexia.com

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Notes to the consolidated fi nancial statementsC. TRANSFER BETWEEN LEVEL 1 AND LEVEL 2 FAIR VALUE HIERARCHYManagement reportC.1. Assets31/12/09From 1 to 2 From 2 to 1Financial assets held for trading 321 32Financial assets available for sale 33 1,105Derivatives 130 0TOTAL 484 1,137C.2. Liabilities31/12/09From 1 to 2 From 2 to 1Financial liabilities held for trading 0 1TOTAL 0 1Additional informationAnnual financial statementsConsolidatedfinancial statements188Dexia Annual report 2009
Notes to the consolidated fi nancial statementsD. RECONCILIATION LEVEL 3D.1. AssetsThe column “Restatement according to new definition” is anet amount consisting of the following reclassifications:On the one hand, the reclassification out of level 3 (asreported in 2008) into level 2:• For “Financial liabilities designated at fair value” the significanceof own credit risk assessed against the fair value isnot material;ClosingDec. 200831/12/09Restatementaccording tonew definition• For some derivatives, the input used in the pricing modelcould be considered as “observable” based on the guidancein the amended IFRS.On the other hand, there was a reclassification out of level 2into level 3:• These financial instruments mostly contained non-closelyrelated embedded derivatives for which a change in riskOpeningbalanceFinancial assets held for trading 1,735 2,724 4,459Financial assets designated at fair value 25 159 184Financial assets available for sale 19,664 32,706 52,370Derivatives 495 4,539 5,034TOTAL 21,919 40,128 62,047OpeningbalanceTotalgains/lossesin P&LTotalgains/lossesin OCISalePurchaseSettlement31/12/09Transfers Transfersin level 3 out oflevel 3ConversiondifferencesOther(1)Clos ingFinancial assets heldfor trading 4,459 1,086 0 260 (2,321) (99) 0 (224) 0 162 0 3,323Financial assets designatedat fair value 184 (32) 0 173 (15) 0 0 (102) 0 2 0 210Financial assets availablefor sale 52,370 851 1,124 1,209 (1,509) (1,211) 1,841 (2,408) (2) (171) (151) 51,943Derivatives 5,034 404 0 5 (734) (1,618) 0 (52) 0 200 0 3,239TOTAL 62,047 2,309 1,124 1,647 (4,579) (2,928) 1,841 (2,786) (2) 193 (151) 58,715(1) The assets of Dexia Epargne Pension are transferred to non-current assets held for sale.D.2. LiabilitiesClosingDec. 200831/12/09Restatementaccording tonew definitionOpeningbalanceFinancial liabilities designated at fair value 6,147 (2,816) 3,331Derivatives 1,073 3,770 4,843TOTAL 7,220 954 8,174OpeningbalanceTotalgains/lossesin P&LPurchase31/12/09Directori gina tionChangesin scopeof consolidationSettlementout ofTransferslevel 3ConversiondifferencesClos ingFinancial liabilities held for trading 0 0 1 0 0 0 0 1Financial liabilities designated at fair value 3,331 29 0 88 (69) 0 0 3,379Derivatives 4,843 (707) 0 0 (63) (5) (199) 3,869TOTAL 8,174 (678) 1 88 (132) (5) (199) 7,249Management reportConsolidatedfinancial statementsAnnual financial statementsAdditional informationAnnual report 2009 Dexia 189
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9Annual report 2009
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9Annual report 2009Management repor
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9Management report
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Group profi leSIMPLIFIED GROUP STRU
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Group profi leQUALITY OF RISKS Dexi
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In accordance with the agreement wi
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2009 and early 2010 highlightsExit
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2009 and early 2010 highlightsCreat
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Corporate governanceIntroduction: t
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Corporate governanceThe European Ad
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Corporate governanceNAMEPIERREMARIA
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Corporate governanceNAMEROBERTDE ME
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Corporate governanceNAMESPECIALISTC
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Corporate governanceNAMEKOEN VAN LO
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Corporate governanceNew directors a
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Corporate governanceConsidering tho
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Corporate governancemade and the fi
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Corporate governanceDIRECTORS’ AN
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Corporate governanceOperation and a
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Corporate governanceThe Appointment
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Corporate governanceResponsibilitie
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Corporate governanceVariable compen
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Corporate governancetional entities
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Corporate governance• It identifi
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Shareholder informationStock market
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Shareholder informationPRINCIPAL DE
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Human resourcesAGE PYRAMID> 5955-59
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Sustainable developmentThe 2009 Dex
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Risk managementIntroductionIn 2009,
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Risk managementThe Rating Committee
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Risk managementAsset qualityBy the
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Risk managementBond portfolioDexia
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Risk managementThis good performanc
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Risk managementRisk and control sel
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Risk managementECONOMIC CAPITALBY T
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Financial resultsPreliminary notes
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Financial resultsSolvency31/12/08 3
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Financial resultsAssetsLoans and ad
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Activity and results of the busines
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General information3. Overview of t
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General informationAll the above-me
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General information4.5. Dexia banka
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General information6.3. Notificatio
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Consolidated balance sheet ........
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Consolidated balance sheetManagemen
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Consolidated statementof incomeMana
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Management reportConsolidatedfinanc
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Consolidated statementof comprehens
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Notes to the consolidated financial
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Statutory Auditor’s report• Wit
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Additional informationGeneral dataN
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Additional informationDexia FP Hold
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Dexia’s annual report 2009 has be
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Annual report 2009 - Dexia.com

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