Amendments to IAS 39 and IFRS 7, “Reclassification of Financial Assets”


Under the amendments to IAS 39 and IFRS 7 issued in October 2008, certain financial assets were reclassified in the second half of 2008 and the first quarter of 2009 from the financial assets at fair value through profit or loss and the available for sale classifications into the loans classification. The reclassifications were made in instances where management believed that the expected repayment of the assets exceeded their estimated fair values, which reflected the significantly reduced liquidity in the financial markets, and that returns on these assets would be optimized by holding them for the foreseeable future. Where this clear change of intent existed and was supported by an ability to hold and fund the underlying positions, we concluded that the reclassifications aligned the accounting more closely with the business intent.

As of December 31, 2011 and December 31, 2010 the carrying value of reclassified assets was € 22.9 billion and € 26.7 billion, respectively, compared with a fair value of € 20.2 billion and € 23.7 billion as of December 31, 2011 and December 31, 2010, respectively. These assets are predominantly held in CB&S.

Please refer to Note 13 “Amendments to IAS 39 and IFRS 7, ‘Reclassification of Financial Assets’” for additional information on the impact of reclassification.

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Deutsche Bank Annual Report 2011

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