Annual Report 2010 - Muenchener Hypothekenbank eG

münchener hypothekenbank eg | annUaL report 2010 notes 70 | 71 DeferreD items from the issuinG anD loan Business 31 dec. 10 € 000 31 dec. 09 € 000 Assets side 12. discount from liabilities 28,653 33,613 Premium from claims 24,829 27,862 other deferred charges 7,504 10,883 Liabilities side 6. Premium from liabilities 2,617 5,376 discount from claims 10,895 12,794 other deferred income 500 294 DeferreD taxes deferred tax liabilities were primarily related to the low valuation of bank buildings taken for tax purposes. deferred tax assets arise from the existing contingency reserves created in accordance with Art. 340f hgB, and the different methods used to value premiums from swap options that were exercised. A backlog of deferred tax assets arising after clearing is not recorded in the balance sheet. suBorDinateD liaBilities Subordinated liabilities incurred interest expenses of € 11,188 (thousand) (previous year € 7,805 (thousand)). Subordinated liabilities which individually exceed 10 percent of the overall statement amount to: nominal amount Currency interest rate Maturity date 30,000,000.00 euro 6.25% 01 June 2011 20,000,000.00 euro 6.02% 20 March 2018 fund-raising activities did not include any conditions that deviated from Art. 10 (5a) of the german Banking Act. Premature repay- ment obligations are excluded in all cases. The conversion of these funds into capital or other forms of debt has not been agreed upon nor is foreseen. Reporting on the balance sheet is shown at nominal value.