Dresdner Bank - Commerzbank International SA

Dresdner Bank Luxembourg S.A. Annual Report 2008
56
Classification of liabilities by remaining maturities (in € thousand)
Other liabilities
Amounts owed to credit
institutions with agreed term Amounts Other
or notice period owed to customers 1)
securitised liabilities
2008 2007 2008 2007 2008 2007
Up to 3 months 2)
1,879,904 2,118,363 3,397,006 6,910,295 0 0
More than 3 months up to 1 year 178,263 24,665 579,799 238,729 0 0
More than 1 year up to 5 years 260,623 1,000 363,573 392,261 0 0
More than 5 years 0 0 32,766 0 0 0
Total 2,318,790 2,144,028 4,373,144 7,541,285 0 0
1) Other liabilities with agreed term or period of notice.
2 ) Liabilities up to 3 months do not include any amounts owed on demand.
The decline in other liabilities from € 679.6 million to € 11.9 million is essentially due to the discontinuation
of an equity-linked note (ELN) issued by the bank in 2006.
Subordinated liabilities
In the year under review, the associated interest expenses amounted to € 200.0 million (previous year:
€ 299.2 million). During the financial year, interest expenses of € 14.8 million (previous year: € 17.9 million)
were incurred for these. Redemption premiums of € 1.0 million (previous year: € 1.4 million) were recorded
under ‘deferred income’ as of the balance sheet date.
Subordinated liabilities
Type of liability Bond Bond
Currency and amount € 100,000 thousand € 100,000 thousand
Interest rate 6.500% 6.250%
Maturity December 2, 2009 February 26, 2016
Special item with partial reserve character
The special item was formed pursuant to Article 54 of the Luxembourg income tax law. In 2008, the
special item was released in its full amount and resulted in taxable income of € 72.25 million.