Part of the Consolidated Financial Statements as of 31 December 2009; audited by KPMG AG Wirtschaftsprüfungsgesellschaft.

[18] Allowance for Credit Losses


The allowance for credit losses consists of an allowance for loan losses and an allowance for off-balance sheet positions.

The following table presents a breakdown of the movements in the Group’s allowance for loan losses for the periods specified.

 

2009

2008

2007

in € m.

Individually assessed

Collectively assessed

Total

Individually assessed

Collectively assessed

Total

Individually assessed

Collectively assessed

Total

Allowance,  beginning of year

977

961

1,938

930

775

1,705

985

684

1,670

Provision for loan losses

1,789

808

2,597

382

702

1,084

146

505

651

Net charge-offs:

(637)

(419)

(1,056)

(301)

(477)

(778)

(149)

(378)

(527)

Charge-offs

(670)

(552)

(1,222)

(364)

(626)

(990)

(244)

(508)

(752)

Recoveries

33

133

166

63

149

212

95

130

225

Changes in the group of consolidated companies

Exchange rate changes/other

(101)

(36)

(137)

(34)

(39)

(74)

(52)

(36)

(88)

Allowance, end of year

2,029

1,314

3,343

977

961

1,938

930

775

1,705

The following table presents the activity in the Group’s allowance for off-balance sheet positions, which consists of contingent liabilities and lending-related commitments.

 

2009

2008

2007

in € m.

Individually assessed

Collectively assessed

Total

Individually assessed

Collectively assessed

Total

Individually assessed

Collectively assessed

Total

Allowance,  beginning of year

98

112

210

101

118

219

127

129

256

Provision for off-balance sheet positions

21

12

33

(2)

(6)

(8)

(32)

(6)

(38)

Usage

(45)

(45)

Changes in the group of consolidated companies

7

3

10

Exchange rate changes/other

10

10

(1)

(1)

(1)

(8)

(8)

Allowance, end of year

83

124

207

98

112

210

101

118

219

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