Part of the Consolidated Financial Statements as of 31 December 2007, which were audited by KPMG Deutsche Treuhand AG.

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Corporate Credit Exposure

The following table breaks down several of our main corporate credit (Glossary)exposure categories according to the creditworthiness categories of our counterparties.

This table reflects an increase in our corporate loan book, as well as a continued good quality of our lending-related credit exposures. The change in the creditworthiness of our corporate loan book in 2007 compared to 2006 reflects our continued tight credit discipline.

This is evidenced by the portion of our corporate loan book carrying an investment-grade (Glossary)rating increasing, from 65% at December 31, 2006 to 70% at December 31, 2007.

Corporate credit exposure (Glossary)credit risk profile by creditworthiness category
in € m.

Loans1

Irrevocable Lending Commitments2

Contingent liabilities

OTC (Glossary)derivatives3

Total

Dec 31,
2007

Dec 31,
2006

Dec 31,
2007

Dec 31,
2006

Dec 31,
2007

Dec 31,
2006

Dec 31,
2007

Dec 31,
2006

Dec 31,
2007

Dec 31,
2006

1

Includes (Glossary)IFRS impaired loans mainly in category CCC and below amounting to € 1.5 billion as of December 31, 2007 and € 1.6 billion as of December 31, 2006.

2

Includes Irrevocable lending commitments related to consumer credit exposure of € 2.7 billion as of both December 31, 2007 and December 31, 2006.

3

Includes the effect of master agreement netting for (Glossary)OTC Derivatives where applicable.

AAA–AA

22,765

20,225

28,969

34,172

7,467

5,774

54,164

28,255

113,366

88,427

A

30,064

17,615

31,087

38,356

15,052

13,548

21,092

16,238

97,294

85,757

BBB

30,839

31,893

35,051

34,986

13,380

13,364

8,706

7,194

87,975

87,436

BB

26,590

26,301

25,316

26,536

9,146

6,170

10,018

5,351

71,069

64,358

B

6,628

5,271

7,431

6,254

4,252

3,589

2,601

1,060

20,912

16,175

CCC and below

3,342

5,188

657

1,027

609

602

1,300

114

5,908

6,931

Total

120,228

106,494

128,511

141,331

49,905

43,047

97,881

58,212

396,525

349,084