Annual Report 2011 - Hong Kong Monetary Authority

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Forex adjustments Redesignations Investments and newly consolidated asssets Divestitures and assets no longer consolidated Depreciation, including changes in scope of consolidation Group value at 31 December 2011 26 - 972 (150) - 45,556 (223) - 1,102 (592) (3) 46,566 (197) - 2,074 (742) (3) 92,122 (959) - 76,322 - (3,214) 188,618 - - - - (282) 9,131 (741) - 24,338 (827) (23,180) 50,920 (1,700) - 100,660 (827) (26,676) 248,669 - - - 3 (1,934) 3,056 (193) - 8,834 (1,401) (7,425) 11,032 (193) - 8,834 (1,398) (9,359) 14,088 FINANCIAL REPORT CONSOLIDATED ACCOUNTS 81
82 2011 ANNUAL REPORT - BANQUE PRIVÉE EDMOND DE ROTHSCHILD SA 2011 2010 Change (in CHF ‘000) (in CHF ‘000) (in %) 9 Other assets Total 361,497 358,560 0.8 Positive replacement value of derivative instruments 344,719 330,647 4.3 Other 16,778 27,913 (39.9) 361,497 358,560 Book value of assets 2011 2010 Actual encumbrance Book value of assets Actual encumbrance 10 Assets pledged or assigned to cover own liabilities and assets subject to reservation of ownership (in thousands of CHF) Mortgage bonds - - - - Securities pledged to a Stock Exchange to cover settlements 24,955 - 25,315 - Mortgage notes pledged to cover Bank premises - - - - Other - - - - Assets pledged or assigned to cover own liabilities 24,955 - 25,315 - Assets subject to reservation of ownership - - - - Total encumbrances covering own liabilities 24,955 - 25,315 - 2010 contains a reclassification of CHF 7.9 million between “Other” and “Securities pledged to a Stock Exchange to cover settlements and as collateral for payment transactions”. 2011 2010 Securities lending and repurchase agreements Claims arising from cash pledged as collateral under securities borrowing and reverse repo agreements 4,754,807 6,321,113 Liabilities arising from cash received as collateral under securities lending and repo agreements - - Securities held for own account and tendered as collateral under securities borrowing and repo agreements - - of which: - those which the recipient has been authorised without restriction to sell or pledge subsequently Securities received as collateral under securities lending agreements and securities received under borrowing - - or reverse repo agreements which the Bank has been authorised without restriction to sell or pledge subsequently 4,738,324 6,453,090 of which: - those of the above securities which were sold or pledged - - The fees earned or paid as a result of securities lending are reported as per the duration of the loan and appear respectively as interest income or interest charges. Repos and reverse repos are used to finance and refinance the purchase of special kinds of equities. They are stated as loans secured by financial instruments or as deposits secured by shares from the Bank’s treasury stock. They are stated as advances secured by securities or as deposits for which the Bank has pledged securities. The interest income arising from reverse repos and the interest charges arising from repos are reported as per the duration of the relevant transactions. 2011 2010 Change (in CHF ‘000) (in CHF ‘000) (in %) 11 Disclosure of commitments to own pension plans Total 52,700 40,627 29.7 Commitments to own pension plans (joint and employer foundations alike) are stated under “Other amounts due to customers”. 12 Other liabilities Total 382,684 384,798 (0.5) Negative replacement value of derivative instruments 337,189 336,527 0.2 Set-off account 98 - - Other 45,397 48,271 (6.0) 382,684 384,798
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Annual Report 2011
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Contents 6 20 Banque Privée Edmond
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Banque Privée Edmond de Rothschild
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1 4 1 Odéon, Théâtre de l’Euro
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within our group, which have develo
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Is this the end of the market econo
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dangerous to bet on bureaucracy as
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SENIOR MANAGEMENT Head Office Execu
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BRANCHES In Switzerland Fribourg Se
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Social Entrepreneurship Economic te
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Corporate governance Introduction O
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1.1.2. / 1.1.3. Group legal structu
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2.6. Transferability restrictions a
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1965-1996 First Vice-President, the
Page 32 and 33: Jean Laurent-Bellue Member, French,
Page 34 and 35: 3.2. Other activities and vested in
Page 36 and 37: 3.5. Powers The Board of Directors
Page 38 and 39: 4. Executive Committee The Executiv
Page 40 and 41: Jean-Pierre Pieren Member, Swiss, 1
Page 42 and 43: Present duties Since 1988 Chief Fin
Page 44 and 45: 5. Remuneration, profi t-sharing an
Page 46 and 47: This scheme was implemented for a f
Page 48 and 49: 7. Take-overs and defensive measure
Page 50 and 51: 9. Information policy Banque Privé
Page 52 and 53: Intercultural Dialogue Too often, p
Page 54 and 55: Key fi gures Banque Privée Edmond
Page 56 and 57: Awards 2011 in Milan and Large Fund
Page 58 and 59: esources of institutional clients i
Page 60 and 61: Outlook for 2012 2012 will be marke
Page 62 and 63: Report on other legal requirements
Page 64 and 65: Abroad Banks Banque Privée Edmond
Page 66 and 67: Prifund Conseil SA Luxembourg 3) 10
Page 68 and 69: Dividends are eliminated through re
Page 70 and 71: Personnel welfare liabilities Contr
Page 72 and 73: Consolidated balance sheet at 31 De
Page 74 and 75: Consolidated cash fl ow statement a
Page 76 and 77: - The Risk Manager sees to it that
Page 78 and 79: 2011 2010 Change (in CHF ‘000) (i
Page 84 and 85: Situation at end-2010 Uses and rele
Page 86 and 87: 2011 2010 (in CHF ‘000) (in CHF
Page 90 and 91: 22 Breakdown of consolidated assets
Page 94 and 95: (Note 26 cont’d) 2011 2010 Positi
Page 98 and 99: 2011 2010 42 Earnings per share Gro
Page 100 and 101: Health and Research For over a cent
Page 102 and 103: Key fi gures of Banque Privée Edmo
Page 104 and 105: Roundup of results The Bank’s net
Page 106 and 107: Elections as per our Articles of As
Page 108 and 109: Breakdown of revenues (% of total)
Page 110 and 111: Report on other legal requirements
Page 112 and 113: Balance sheet at 31 December 2011 (
Page 114 and 115: Notes to the fi nancial statements
Page 120 and 121: Par value Number of shares 2011 201
Page 122 and 123: Loans granted to the Bank’s gover
Page 124 and 125: (Note 15 cont’d) 2011 2010 Employ
Page 128 and 129: Edmond de Rothschild Conseil et Cou
Page 130 and 131: Other Edmond de Rothschild Group co
Page 132 and 133:
Other Edmond de Rothschild Group co
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