Notes on the consolidated balance sheet – assets

(6) Loans and receivables

 

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

           

Mortgage loans

1,239

1,383

106

3

1,345

1,386

Loans and prepayments on insurance policies

200

201

200

201

Loans and receivables due from governmental or semi-governmental entities 1)

9,728

9,454

304

262

10,032

9,716

Corporate securities

7,342

7,930

97

104

7,439

8,034

Covered bonds, asset-backed securities

13,491

12,163

341

312

13,832

12,475

Participation rights

343

417

–6

–14

337

403

Total

32,343

31,548

842

667

33,185

32,215


1) The loans and receivables due from governmental or semi-governmental entities include securities of EUR 2,114 (2,310) million which are guaranteed by the Federal Republic of Germany, other EU states or German federal states.

The item “Covered bonds, asset-backed securities” includes German covered bonds (Pfandbriefe) with a carrying amount of EUR 13,464 (11,869) million (99 (98)%)

 

Amortized cost

Fair value

Contractual maturity

31.12.2010

31.12.2009

31.12.2010

31.12.2009

Figures in EUR million

       

Due in one year

1,290

2,049

1,306

2,063

Due after one through two years

1,380

1,146

1,422

1,181

Due after two through three years

1,601

1,352

1,612

1,415

Due after three through four years

3,046

1,501

3,081

1,557

Due after four through five years

2,986

2,740

3,107

2,805

Due after five through ten years

9,252

11,344

9,553

11,666

Due after ten years

12,788

11,416

13,104

11,528

Total

32,343

31,548

33,185

32,215

 

Amortized cost

Rating structure of loans and receivables

31.12.2010

31.12.2009

Figures in EUR million

   

AAA

13,553

12,297

AA

11,780

11,513

A

4,521

4,699

BBB or lower

2,489

3,039

Total

32,343

31,548

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

The rating category of “BBB or lower” includes unrated loans and receivables of EUR 1.5 (1.5) billion. They consist principally of mortgage loans and policy loans.