Liquidity Risk


The following table shows the composition of our external funding sources that contribute to the liquidity risk position as of June 30, 2010 and December 31, 2009, both in euro billion and as a percentage of our total external funding sources.

Composition of external funding sources

 

 

in € bn. (unless stated otherwise)

Jun 30, 2010

Dec 31, 2009

1

Other includes fiduciary, self-funding structures (e.g., X-markets), margin/prime brokerage cash balances (shown on a net basis).

2

Includes ABCP conduits.

Capital Markets and Equity

178

20 %

164

21 %

Retail

167

18 %

153

20 %

Transaction Banking

111

12 %

100

13 %

Other Customers1

116

13 %

118

15 %

Discretionary Wholesale

101

11 %

51

7 %

Secured Funding and Shorts

207

23 %

165

21 %

Financing Vehicles2

31

3 %

26

3 %

Total external funding

911

100 %

777

100 %

The increase in the volume of secured financing activities accompanied by growth in discretionary wholesale funding during the first half year 2010 is mainly a reflection of our growth in cash and liquid trading assets within our Corporate Banking & Securities Corporate Division. Overall increases in our funding sources also reflect significant foreign exchange rate movements during the reporting period. The overall volume of stable funding (e.g. capital markets and retail) increased as a result of the acquisition of Sal. Oppenheim Group and parts of ABN AMRO’s commercial banking activities in the Netherlands as well as our capital markets issuance activities. Regular stress test analyses seek to ensure that we always hold sufficient cash and liquid assets to close a potential funding gap which could open under a combined scenario comprising idiosyncratic and market related stress.

Service Functions

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