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ePaper created 2012-04-20, 15:08:32 | version 1.23.0
86 Auditing Associtation Michael Jung DGRV – Deutscher Genossenschafts- und Raiffeisenverband e.V., Berlin, Pariser Platz 3 Pursuant to Art. 53 of the Cooperatives Act, in association with Art. 340k of the German Commercial Code, total costs of € 700 (thousand) (previous year € 805 (thousand)) were incurred for auditing the annual financial statements and the management report, the cooperatives organisational structures, and to exam- ine the Bank’s management during the year under review. Total costs of € 62 (thousand) (previous year € 60 (thousand)) were incurred for other confirmation services, and € 43 (thousand) (previous year € 60 (thousand)) was incurred for other services. contingent liability Our Bank is a member of the protection scheme of the National Association of German Cooperative Banks (Sicherungseinrich- tung des Bundesverbandes der Deutschen Volksbanken und Raiffeisenbanken e.V.). Per the statutes of the protection scheme we have issued a guarantee to the National Association of German Cooperative Banks. As a result, we have a contingent liability of € 15,851 (thousand). Munich, 14 February 2012 MÜNCHENER HYPOTHEKENBANK eG The Board of Management Dr. Louis Hagen Bernhard Heinlein notes – münchener Hypothekenbank eg l annual Report 2011