Please activate JavaScript!
Please install Adobe Flash Player, click here for download
ePaper created 2012-04-20, 15:08:32 | version 1.23.0
70 NOTES – münchener Hypothekenbank eg l annual Report 2011 As of the date of record there was no indication that the present value of the Bank‘s participations and capital holdings at cooperatives, holdings in affiliated companies, as well as the value of shares and other non-fixed-income securities was less than their book values. The item “Bonds and other fixed-income securities” includes securities with a book value of € 4,256,401 (thousand) (previous year 4,578,940 (thousand)) exceeding the present value of € 3,850,759 (thousand) (previous year € 4,247,782) (thousand)). To the extent that these securities are associated with a swap transaction, they are valued together with the transaction as a single item. As of the date of record we had no knowledge of a permanent reduction in value that would require additional unscheduled depreciation. Trust transactions 31 Dec. 11 € 000 31 Dec. 10 € 000 Assets held in trusts Claims on customers 140 167 Liabilities incurred as trustee Liabilities to banks 140 167 Tangible assets The portion of the total value attributable to the land and buildings used by the Bank is € 63,925 (thousand) (previous year € 64,897 (thousand)), and of plant and office equipment € 1,874 (thousand) (previous year € 2,130 (thousand)). Subordinated assets 31 Dec. 11 € 000 31 Dec. 10 € 000 Claims on banks 0 10,000 Shares and other non-fixed-income securities 8,150 8,170 other assets In addition to deferred items related to the derivative business, the item “Other assets” also includes commissions for mortgage loans that will be paid after the date of record, and mainly claims on the German tax authorities (Finanzamt) for corporation tax credit. OTHER LIABILITIES Other liabilities consist of deferred items and adjustment entries for valuation of foreign currency items related to derivative transactions as well as, above all, all liabilities for accrued interest related to registered profit-participation certificates and silent participations.