2007 REGISTRATION DOCUMENT

CONSOLIDATED FINANCIAL STATEMENTS5Notes to the financial s tatements p repared in accordance with I nternational Financial Reporting S tandards as adopted by the European Union< Contents >Deferred taxes on temporary differences relate to the following items:Change in deferred taxes over the year in millions of euros 31 December 2007 31 December 2006NET DEFERRED TAXES AT 1 JANUARY 520 (571)Deferred income tax charge (357) (458)Impact of the consolidation of Banca Nazionale del Lavoro - 1,158Effect of exchange rate and other movements 219 391NET DEFERRED TAXES AT 31 DECEMBER 382 52012Breakdown of net deferred taxes by temporary differences in millions of euros 31 December 2007 31 December 2006Provisions for employee benefi t obligations 373 497Other provisions 1,537 1,591Unrealised fi nance lease reserve (755) (854)Available-for-sale fi nancial assets (552) (794)Other items (221) 80NET DEFERRED TAXES 382 520of whichDeferred tax assets 1,668 1,517Deferred tax liabilities (1,286) (997)Carryforwards of tax losses accounted for EUR 478 million of total deferred tax assets at 31 December 2007 (EUR 67 million at 31 December 2006).Unrecognised deferred tax assets amounted to EUR 529 million at 31 December 2007 (EUR 626 million at 31 December 2006).The decrease in deferred tax assets related to the reduction in tax rates in Italy amounted to EUR 146 million.5.i ACCRUED INCOME/EXPENSE AND OTHER ASSETS/LIABILITIESIn millions of euros 31 December 2007 31 December 2006Guarantee deposits and bank guarantees paid 16,358 25,379Settlement accounts related to securities transactions 16,066 17,799Collection accounts 2,517 2,206Reinsurers’ share of technical reserves 2,554 2,414Accrued income and prepaid expenses 3,919 2,330Other debtors and miscellaneous assets 19,194 16,787TOTAL ACCRUED INCOME AND OTHER ASSETS 60,608 66,915Guarantee deposits received 16,818 12,315Settlement accounts related to securities transactions 23,151 21,681Collection accounts 401 484Accrued expenses and deferred income 5,509 3,668Other creditors and miscellaneous liabilities 12,936 15,513TOTAL ACCRUED EXPENSES AND OTHER LIABILITIES 58,815 53,661345678910112007 Registration document - BNP PARIBAS 161