2005 Annual Report Julius Baer Holding Ltd. - GAM Holding AG

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Notes 27 Consolidated off-balance-sheet transactions 116 JULIUS BAER GROUP 31.12.2004 31.12.<strong>2005</strong> Change Change Note CHF 1000 CHF 1000 CHF 1000 % Contingent liabilities Credit guarantees in the form of obligations under avals, sureties and guarantees, including guarantee obligations in the form of irrevocable letters of credit 383486 633282 249796 65.1 Irrevocable liabilities under documentary letters of credit 641 641 Other contingent liabilities 15000 31250 16250 108.3 Total 398486 665173 266687 66.9 Irrevocable commitments Unutilized irrevocable commitments to extend credit 27128 30470 3342 12.3 Confirmed credits Acceptance liabilities 1802 5974 4172 231.5 Amounts already contained in balance sheet. Derivative financial instruments Contract volume 28 91300078 89386816 -1913262 -2.1 Fiduciary transactions Fiduciary deposits 1 4493648 11535708 7042060 156.7 Other fiduciary transactions (securities lending & borrowing on an agent basis) 13169 2617 -10552 -80.1 Total 4506817 11538325 7031508 156.0 1 Investments which Group companies enter into at banks outside of the consolidated companies for the account of and at the risk of the client The contingent liabilities comprise, among other things, credit guarantees in the form of obligations under avals, sureties and guarantees, including guarantee obligations in the form of irrevocable letters of credit, bid and performance bonds, and irrevocable liabilities under documentary letters of credit. The irrevocable commitments relate to unutilized irrevocable commitments to extend credit. Fiduciary transactions consist of investments, credits and participations that the Bank enters into or grants in its own name but for the account of and at the risk of the client as per written instruction. In connection with the withdrawal from the US private banking business and the disposal of the residual interest in the institutional brokerage business, from which the Group withdrew in the 2003 financial year, as well as in connection with the acquisition of three private banks and the further asset management companies, third parties have been provided with customary indemnification provisions. These indemnification provisions generally shift the potential risk of certain unquantifiable and unknowable loss contingencies (e.g. litigations, tax and intellectual property matters) from the acquirer to the seller, as known or quantifiable loss contingencies generally are reflected in the value of the assets or business sold. To date there have not been any payments arising from these indemnification provisions and we are not aware of any circumstances giving reasons for any indemnifications.
27 Consolidated off-balance-sheet transactions Notes 31.12.2004 31.12.<strong>2005</strong> Change Change CHF 1000 CHF 1000 CHF 1000 % Securities lending and borrowing transactions / repurchase and reverse repurchase transactions Receivables from cash collateral provided in securities borrowing and reverse repurchase transactions 1026971 711315 -315656 -30.7 Obligations to return cash collateral received in securities lending and repurchase transactions 859113 193996 -665117 -77.4 Own securities lent as well as securities provided as collateral for borrowed securities under securities borrowing and repurchase transactions 307553 317752 10199 3.3 of which the right to pledge or sell on the securities has been granted without restriction 307553 317752 10199 3.3 Securities borrowed as well as securities received as collateral for loaned securities under securities lending and reverse repurchase 13634741 7679793 -5954948 -43.7 of which repledged or resold securities 9252575 4277146 -4975429 -53.8 JULIUS BAER GROUP 117
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2005 Annual Report Julius Baer Hold
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Key figures 2004 2005 Change CHF m
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Annual Report 2005
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Foreword 4 Dear Shareholders and Cl
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Foreword 6 Annual financial results
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Foreword 8 The significant economie
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Foreword 10 2005 will go down in th
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anks, the decision has been made to
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this corresponds to CHF 2.59 per re
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2004 2005 Change Change CHF m CHF m
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Private Banking 20 Private Banking
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Asset Management 22 Asset Managemen
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Trading & Sales 24 Trading & Sales
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Corporate Center 26 Corporate Cente
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Corporate Center 28 Our model of su
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Corporate Governance
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1.2 Cross-shareholdings There are n
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2.3 Changes of capital The descript
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egistered shares not physically rep
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Corporate Governance tors of Julius
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3.3 Cross-involvement Since 2004, M
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The Chairman’s Committee receives
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Group Executive Board The Group Exe
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Group Managing Board of UBS AG, 199
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4.3 Other activities and functions
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Equity Bonus Plan 2004 2005 Number
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5.3 Compensation for former members
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5.7 Additional honorariums No addit
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7. Changes of control and defense m
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9. Information policy Julius Baer H
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Financial Report
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Consolidated income statement 2004
Page 69 and 70: 31.12.2004 31.12.2005 Change Change
Page 71 and 72: Translation differences 2003 2004 2
Page 73 and 74: Consolidation policies and valuatio
Page 75 and 76: when the contractually stipulated p
Page 77 and 78: A hedge is regarded as highly effec
Page 79 and 80: Intangible assets Intangible assets
Page 81 and 82: In the case of defined benefit pens
Page 83 and 84: Under revised IAS 32, certain deriv
Page 85 and 86: Notes JULIUS BAER GROUP 81
Page 87 and 88: 3. Credit risks Credit or counterpa
Page 89 and 90: Assets by countries/country groups
Page 91 and 92: 5. Liquidity and financing risks Th
Page 93 and 94: The liquidity position of Bank Juli
Page 95 and 96: Hedges The Group hedges a portion o
Page 97 and 98: 7. Reputational risks The Group’s
Page 99 and 100: 3 Results from trading operations N
Page 101 and 102: 7 Taxes Notes 2004 2005 Change Chan
Page 103 and 104: The depreciation and write-offs of
Page 105 and 106: Information on the consolidated bal
Page 107 and 108: 12 Financial investments 31.12.2004
Page 109 and 110: Notes 31.12.2004 31.12.2005 Change
Page 111 and 112: 18 Financial liabilities designated
Page 113 and 114: 20a Deferred tax assets Notes 31.12
Page 115 and 116: 23 Corporate capital Notes Register
Page 117 and 118: 25 Pension plans and other employee
Page 119: 26 Assets and liabilities by domest
Page 123 and 124: 28 Derivative financial instruments
Page 125 and 126: 29 Financial instruments (continued
Page 127 and 128: 30 Risk-weighted assets (BIS) Notes
Page 129 and 130: Notes Head Office Currency Capital
Page 131 and 132: Notes Head Office Currency Capital
Page 133 and 134: Pro-forma information The following
Page 135 and 136: Movements in shares granted under v
Page 137 and 138: Notes 31.12.2004 31.12.2004 31.12.2
Page 139 and 140: Breakdown of assets under managemen
Page 141 and 142: Report of the Group auditors to the
Page 143 and 144: Financial Report of Julius Baer Hol
Page 145 and 146: lion to CHF 28 million due to capit
Page 147 and 148: Balance sheet 31.12.2004 31.12.2005
Page 149 and 150: Proposal of the Board of Directors
Page 151 and 152: Report of the statutory auditors to
Page 153 and 154: Addresses and contacts
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2005 Annual Report Julius Baer Holding Ltd. - GAM Holding AG

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