The following information is part of the consolidated financial statements as of 31 December 2003, which were audited and issued with an unqualified certificate by KPMG Deutsche Treuhand AG, Wirtschaftprüfungsgesellschaft.

The table shows the effects of exchange rate changes on the balance sheet:

 
in € m. Dec 31, 2003 Dec 31, 2002
Foreign currency assets 402,900 417,400
thereof U.S.$ 232,500 231,900
Foreign currency liabilities (excluding capital and reserves) 433,200 392,700
thereof U.S.$ 258,100 221,500
Change in total assets owing to parity    
changes for foreign currencies1 (61,800) (52,900)
thereof due to U.S.$ (41,500) (36,900)
 
1 Based on the asset side.