Notes on the consolidated balance sheet – assets

(8) Financial assets available for sale

 

Amortized cost

Unrealized

gains/losses

Fair value

 

31.12.2010

31.12.2009

31.12.2010

31.12.2009

31.12.2010

31.12.2009

Figures in EUR million

      

Fixed-income securities

      

Government debt securities of EU member states

4,719

3,771

–65

68

4,654

3,839

US Treasury Notes

2,059

2,020

66

15

2,125

2,035

Other foreign government debt securities

950

612

14

3

964

615

Debt securities issued by semi-governmental entities 1)

5,165

5,214

98

111

5,263

5,325

Corporate securities

9,538

7,357

115

194

9,653

7,551

Investment funds

640

716

–3

14

637

730

Mortgage bonds, asset-backed securities

4,742

3,811

80

91

4,822

3,902

Participation rights

210

227

2

2

212

229

Total fixed-income securities

28,023

23,728

307

498

28,330

24,226

       

Variable-yield securities

      

Equities

926

743

250

299

1,176

1,042

Investment funds

1,035

1,124

58

49

1,093

1,173

Participation rights

36

35

1

36

36

Other

Total variable-yield securities

1,997

1,902

308

349

2,305

2,251

       

Total securities

30,020

25,630

615

847

30,635

26,477


1) The debt securities issued by semi-governmental entities include securities of EUR 3,039 (3,850) million which are guaranteed by the Federal Republic of Germany, other EU states or German federal states

The item “Mortgage bonds, asset-backed securities” includes covered bonds with a carrying amount of EUR 4,220 (3,331) million (88 (85)%).

 

Fair value

Amortized cost

Contractual maturity of
fixed-income securities

31.12.2010

31.12.2009

31.12.2010

31.12.2009

Figures in EUR million

       

Due in one year

3,516

3,711

3,498

3,663

Due after one through two years

3,512

3,108

3,468

3,044

Due after two through three years

3,489

3,003

3,396

2,924

Due after three through four years

3,725

3,286

3,644

3,155

Due after four through five years

3,726

3,291

3,708

3,209

Due after five through ten years

6,987

5,814

7,000

5,726

Due after ten years

3,375

2,013

3,309

2,007

Total

28,330

24,226

28,023

23,728

 

Fair value

Rating structure of fixed-income securities

31.12.2010

31.12.2009

Figures in EUR million

   

AAA

13,186

11,562

AA

4,514

4,550

A

6,924

5,224

BBB or lower

3,706

2,890

Total

28,330

24,226

The rating categories are based on the classifications of leading international rating agencies.

The rating category of “BBB or lower” includes unrated fixed-income securities of EUR 309 (80) million.