GENERAL MEETING DRAFT - Bankier.pl

Guarantees and credit derivatives in the same class measured under IAS 39 (i.e. contracts under which
the issuer makes pre-established payments in order to compensate the guaranteed party or buyer of
protection for losses sustained due to default by a debtor on the maturity of a debt instrument) are initially
and subsequently (on remeasurement following impairment losses) recognised in item 100 “Other
liabilities”.
After initial recognition, guarantees given are recognized at the greater of the initially recognized value,
net of any amortized portion, and the estimated amount required to meet the obligation.
The effects of valuation, related to any impairment of the underlying, are recognized in the same balancesheet
item contra item 130.d “Write-downs and write-backs due to impairment of other financial
transactions” in the income statement.
������� ���������
�������� ������ ��� �������
Interest income and expense and similar income and expense items relate to liquid assets, as well as
financial instruments of a monetary nature (held for trading, measured at fair value through profit or loss
or available for sale), HtM financial assets, loans and receivables, deposits, and securities in issue.
Interest income and expense are recognised through profit or loss with respect to all instruments
measured at amortised cost, using the effective interest method.
Interest also includes the net credit or debit balance of differentials and margins on financial derivatives:
� hedging interest-bearing assets and liabilities;
� HfT but linked for business purposes to assets and liabilities designated as measured at fair value
(fair value option);
� linked for business purposes to HfT assets and liabilities paying differentials or margins on several
maturities.
���� ��� �����������
Fees and commissions are recognised on an accruals basis.
Securities trading commission is recognised at the time the service is rendered. Investment portfolio
management fees, advisory fees and investment fund management fees are recognised on a pro-rata
temporis basis.
Fees included in amortised cost used to calculate effective interest rates are not included under fees and
commissions, since they are part of the effective interest rate.
���������
Dividends are recognised in profit or loss in the financial year in which their distribution has been
approved.
2009 CONSOLIDATED REPORTS AND ACCOUNTS
220