ourexpertise - Crédit Agricole CIB

2010 MANAGEMENT REPORT 3Breakdown of net exposure to monolines at 31 December 2010N/R16%CC4%B5%AA55%BB20%AA : Assured GuarantedBB : RadianB : MBIACC : Ambac et Syncora (ex-XL)N/R : FGIC et CIFG* Lowest rating issued by Standards & Poor’s or Moody’s at 31 December 2010.Protections purchased fromCDPC (Credit Derivative ProductCompanies)At 31 December 2010, net exposure to CDPC was €672 million(compared to €858 million at 31 December 2009) mainly oncorporate CDOs after a discount of €108 million (compared with€324 million at 31 December 2009).Leverage Buy Out• LBO – units to be soldThey are measured at fair value.The net exposure at 31 December 2010 is €0.3 billion on one loan(same as at 31 December 2009).• LBO – fi nal sharesThey are booked on loans and receivables category. The netexposure at 31 December 2010 is €5 billion on 149 loans (€5.8billion on 160 loans at 31 December 2009).Collective reserves are registered for €384 million at 31 December2010.SHELF-REGISTRATION DOCUMENT CRÉDIT AGRICOLE CIB 2010 111