ANNUAL REPORT 2006 - DG Hyp
ANNUAL REPORT 2006 - DG Hyp
ANNUAL REPORT 2006 - DG Hyp
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
Notes to the Financial Statements<br />
(14) Subordinated liabilities<br />
31 Dec <strong>2006</strong> 31 Dec 2005<br />
€ 000’s € 000’s<br />
Subordinated<br />
other debt securities 183,008 188,121<br />
borrowed funds 548,367 470,864<br />
731,375 658,985<br />
Expenses incurred 35,827 34,996<br />
The terms of subordinated liabilities comply with the provisions of section 10 (5a) of the German Banking Act (Kreditwesengesetz –<br />
“KWG”), and do not provide for any early repayment obligations. There are no provisions or plans for a conversion of such funds<br />
to capital, or into another form of debt.<br />
No individual subordinated liability amounts to 10.0 per cent or more of the aggregate amount of subordinated liabilities.<br />
Subordinated liabilities carry an average interest of 5.3 per cent, and have original maturities of between 5 and 23 years.<br />
(15) Profit-participation certificates<br />
Issuer Year of issue Amount Coupon Repayment*<br />
€ mn %<br />
<strong>DG</strong> HYP 1993 51.1 7.25 11 Jun 2009<br />
<strong>DG</strong> HYP 1993 51.1 7.00 11 Jun 2014<br />
<strong>DG</strong> HYP 1994 25.5 6.50 11 Jun 2008<br />
<strong>DG</strong> HYP 1999 1.5 6.20 11 Jun 2007<br />
<strong>DG</strong> HYP 1999 5.1 6.79 11 Jun 2011<br />
<strong>DG</strong> HYP 1999 2.6 6.63 11 Jun 2009<br />
SHL HYP/<strong>DG</strong> HYP 1996 2.6 7.20 28 Jun 2007<br />
SHL HYP/<strong>DG</strong> HYP 1996 2.0 7.24 28 Jun 2007<br />
SHL HYP/<strong>DG</strong> HYP 1996 1.8 7.24 28 Jun 2007<br />
SHL HYP/<strong>DG</strong> HYP 1997 2.6 6.90 28 Jun 2008<br />
SHL HYP/<strong>DG</strong> HYP 1997 2.6 6.95 15 Jun 2008<br />
SHL HYP/<strong>DG</strong> HYP 1997 5.1 6.95 15 Jun 2008<br />
153.6<br />
* The term of profit-participation certificates ends on 31 December of the preceding year.<br />
Profit-participation certificates qualify as liable capital pursuant to section 10 (5) of the KWG. The holders of profit-participation<br />
certificates receive an annual distribution in the amount of the respective coupon, which takes precedence over the profit<br />
entitlements of shareholders.<br />
Deutsche Genossenschafts-<strong>Hyp</strong>othekenbank AG | Annual Report <strong>2006</strong><br />
69