COMMERZBANK AKTIENGESELLSCHAFT

Group Financial Statements
362
306 Commerzbank Annual Report 2011
(94) Collateral received
The fair value of collaterals received, which the Bank has a right to sell on or pledge even where the provider does not default, were as
follows:
€m 31.12.2011 31.12.2010 Change in %
Total amount of collaterals received
of which
93,218 135,068 – 31.0
Sold on or repledged
of which
30,726 24,676 24.5
Subject to an obligation to return – – .
The transactions were carried out on standard market terms for securities lending and repurchase transactions and loan transactions.
(95) Fiduciary transactions
Fiduciary transactions, which do not have to be shown in the balance sheet, amounted to the following on the balance sheet date:
€m 31.12.2011 31.12.2010 Change in %
Claims on banks 53 303 – 82.5
Claims on customers 728 838 – 13.1
Other assets 492 495 – 0.6
Fiduciary assets 1,273 1,636 – 22.2
Liabilities to banks 66 67 – 1.5
Liabilities to customers 1,207 1,569 – 23.1
Fiduciary liabilities 1,273 1,636 – 22.2
(96) Capital requirements and capital ratios
The amended German Banking Act and the Solvency Regulation,
which implemented the Basel II Capital Accord in Germany,
impose obligations on the German banks to maintain minimum
capital ratios. Banks are required to maintain a minimum ratio of
capital to risk-weighted assets of 8% (total capital ratio). A minimum
requirement of 4% applies for the ratio of Tier I capital to
risk-weighted assets (Tier I capital ratio).
A bank’s total capital is made up of Tier I, Tier II and Tier III
capital. Core Tier I capital consists largely of subscribed capital
plus reserves, non-controlling interests and the silent participations
of SoFFin, less certain items such as goodwill, equity
holdings and intangible assets. Adding hybrid capital gives us
Tier 1 capital. Tier II capital comprises profit-sharing certificates
and subordinated long-term liabilities. The changes to the
German Banking Act (KWG) and the Solvency Regulation made
by the Capital Requirements Directive III have further tightened
up the regulatory treatment of capital deduction items and the
charges for risk-weighted assets.
At the same time the European Banking Authority announced
a EU-wide capital exercise which introduced a new capital
requirement for Europe’s major banks. This requires banks to
meet a core Tier I ratio of 9% by June 30, 2012 after marking
their sovereign bond exposures to market.