As of December 31, 2013, total liabilities decreased by € 412 billion (or 21 %) compared to year-end 2012.
Negative market values from derivative financial instruments declined by € 269 billion, driven by the same factors as for positive market values from derivative financial instruments.
Deposits were down by € 49 billion, driven by the aforementioned reductions in our wholesale funding activities and reductions in our retail and transaction banking businesses from their year-end 2012 peaks.
Central bank funds purchased, securities sold under repurchase agreements and securities loaned, under both accrual and fair value accounting, have decreased by € 39 billion in total, primarily stemming from active internalization of funding of highly liquid inventory as well as some outright reductions in inventory which is normally secured funded.
The € 24 billion decrease in long-term debt reflects 2013 maturities, repayments and other debt management activities, arising in both our Core and Non-Core business units.