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Fictie & Feit

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scheelt ettelijk miljard verlies

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 20 FINANCIAL LIABILITIES AT FAIR VALUE THROUGH PROFIT AND LOSS
Financial liabilities at fair value through profit and loss
2011 2010
Trading liabilities 107,682 108,050
Non-trading derivatives 22,165 17,782
Designated as at fair value through profit and loss 13,021 12,707
142,868 138,539
Trading liabilities by type
2011 2010
Equity securities 3,332 4,811
Debt securities 9,607 16,707
Funds on deposit 38,696 44,767
Derivatives 56,047 41,765
107,682 108,050
The increase in trading derivatives and other non-trading derivatives for which no hedge accounting is applied is mainly due to changes
in fair value resulting from changes in market interest rates

 As at 31 December 2011, the Funds on deposit include amounts payable of EUR 38,011 million (2010: EUR 43,995 million) with regard
to repurchase transactions.
Non-trading derivatives by type
2011 2010
Derivatives used in:
– fair value hedges 9,478 8,601
– cash flow hedges 6,462 5,264
– hedges of net investments in foreign operations 159 168
Other non-trading derivatives 6,066 3,749
22,165 17,782

 

ING Real Estate
During 2011 the ING Real Estate business changed significantly. The Real Estate Development business was reduced by selling/closing
development projects and ING sold REIM (the ING Real Estate Investment Management business). As a consequence, there were indications
in the fourth quarter of 2011 that the recoverable amount of the reporting unit ING Real Estate had fallen below book value. A full goodwill
impairment review was performed for the reporting unit ING Real Estate in the fourth quarter of 2011. The reporting unit Real Estate equals
the segment ING Real Estate as disclosed in Note 51 ‘Operating segments’. The 2010 impairment test for ING Real Estate showed that the
recoverable amount based on fair value using market multiples for Price/Book was at least equal to book value. The outcome of the
impairment test performed in the fourth quarter of 2011 indicated that the fair value has become less than book value by an amount that
exceeded the goodwill of ING Real Estate, indicating that the full amount of goodwill relating to ING Real Estate is impaired.