COMMERZBANK AKTIENGESELLSCHAFT

Group Financial Statements
360
304 Commerzbank Annual Report 2011
€m 31.12.2011 31.12.2010 Change in %
Contingent liabilities 37,217 38,096 – 2.3
from rediscounted bills of exchange credited to borrowers 1 3 – 66.7
from guarantees and indemnity agreements 37,160 38,087 – 2.4
Credit guarantees 3,085 3,632 – 15.1
Other guarantees 26,368 27,256 – 3.3
Letters of credit 7,274 6,939 4.8
Guarantees for ABS securitisations – – .
Other warranties 433 260 66.5
Other commitments 56 6 .
Irrevocable lending commitments 53,911 60,566 – 11.0
Book credits to banks 1,332 1,442 – 7.6
Book credits to customers 51,121 56,058 – 8.8
Acceptance credits 1,429 3,016 – 52.6
Letters of credit 29 50 – 42.0
Total 91,128 98,662 – 7.6
The maturities of contingent liabilities and irrevocable lending commitments were as follows:
€m 31.12.2011 31.12.2010 Change in %
Due on demand 2,284 2,307 – 1.0
Up to 3 months 30,925 29,641 4.3
More than 3 months up to 1 year 20,254 20,729 – 2.3
More than 1 year up to 5 years 34,617 41,322 – 16.2
More than 5 years 3,048 4,663 – 34.6
Total 91,128 98,662 – 7.6
Loan loss provisions for off balance-sheet commitments have been deducted from the respective items in these tables.
(93) Repurchase agreements (repo and reverse repo transactions), securities lending and cash collaterals
Under its repurchase agreements, the Commerzbank Group sells
or purchases securities with the obligation to repurchase or
return them. The money received from repurchase agreements
where we are the borrower (i.e. where we are under an
obligation to take the securities back) is shown in the balance
sheet as a liability to banks or customers. The securities
delivered to the lender continue to be reported in the balance
sheet in accordance with their relevant category. As lender the
Commerzbank Group recognises a claim on the borrower equal
to the cash collateral it has paid out. We hold the securities,
which are the collateral for the transaction, in custody.
Securities lending transactions are conducted with other banks
and customers in order to cover our need to meet delivery
commitments or to enable us to effect securities repurchase
agreements in the money market. We show lent securities in our
balance sheet under our trading assets or under financial
investments, whereas borrowed securities do not appear in the
balance sheet. We report cash collateral which we have
furnished for securities lending transactions (cash collateral out)
as a claim and collateral received as a liability (cash collateral
in). Cash collateral outs are also deposited as security in
connection with derivative transactions.