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ePaper created 2012-04-20, 15:08:32 | version 1.23.0
71 Münchener Hypothekenbank eG NOTES deferred items from the issuing and loan business 31 Dec. 11 € 000 31 Dec. 10 € 000 Assets side 12. Discount from liabilities 26,752 28,653 Premium from claims 24,602 24,829 Other deferred charges 5,537 7,504 Liabilities side 6. Premium from liabilities 2,327 2,617 Discount from claims 11,595 10,895 Other deferred income 408 500 deferred TAXES Deferred tax liabilities were primarily related to the low valuation of bank buildings taken for tax purposes. Deferred tax assets arise from provisions made for pensions, and the different methods used to value premiums from swap options that were exer- cised. A backlog of deferred tax assets arising after clearing is not recorded in the balance sheet. Subordinated liabilities Subordinated liabilities incurred interest expenses of € 9,683 (thousand) (previous year € 11,188 (thousand)). Subordinated liabilities which individually exceed 10 percent of the overall statement amount to: Nominal amount Currency Interest rate Maturity date 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 repayment 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.