Annual report 2009 - Dexia.com

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