Ársskýrsla Landsbankans - Landsbankinn

Notes to the Consolidated Financial Statements
9. Derivative instruments and short positions
2010 2009
Notional Fair value Notional Fair value
Foreign exchange derivatives amount Assets Liabilities amount Assets Liabilities
Currency forwards 22,359 20 769 9,323 262 1
Cross-currency interest rate swaps 1,897 - 659 2,415 - 672
OTC currency options 20,424 - - 59,703 700 -
44,680 20 1,428 71,441 962 673
Interest rate derivatives
Interest rate swaps 3,294 3 17 3,318 9 2
3,294 3 17 3,318 9 2
Short positions - listed bonds - - 5,675 - - 5,268
Total 47,974 23 7,119 74,759 971 5,943
The Group uses derivatives both for hedging and trading purposes. The Bank has bought the OTC currency options in order to economically hedge its
foreign currency imbalance against excessive adverse movements in some of the major foreign currencies. The delta of these options at 31 December
2010 is nil (2009: ISK 9,989 million).
10. Loans and advances to financial institutions
2010 2009
Bank accounts with financial institutions 6,844 4,628
Money market loans 63,549 58,488
Overdrafts 6,844 6,247
Other loans 16,823 14,493
Less: Allowance for impairment (2,178) (727)
Total 91,882 83,129
11. Loans and advances to customers
2010 2009
Public entities 13,928 10,582
Individuals 166,069 177,561
Corporations 434,080 486,739
Less: Allowance for impairment (21,122) (7,760)
Total 592,954 667,122
During the reporting period the Group was not permitted to sell or repledge any collateral in absence of default by the owner of the collateral.
Further disclosures on loans and advances are provided in the risk management section of the notes.
NBI hf. Consolidated Financial Statements 2010 32
All amounts are in ISK million
132 Ársreikningur 2010 Allar upphæðir eru í milljónum króna