Fair Value of Financial Instruments not carried at Fair Value

 (unaudited)

This section should be read in conjunction with Note 16 “Fair Value of Financial Instruments not carried at Fair Value” of the Group’s Financial Report 2012.

The valuation techniques used to establish fair value for the Group’s financial instruments which are not carried at fair value in the balance sheet are consistent with those outlined in Note 15 “Financial Instruments carried at Fair Value” of the Group’s Financial Report 2012. As described in section “Amendments to IAS 39 and IFRS 7, ‘Reclassification of Financial Assets’”, the Group reclassified certain eligible assets from the trading and available for sale classifications to loans. The Group continues to apply the relevant valuation techniques set out in Note 15 “Financial Instruments carried at Fair Value” of the Group’s Financial Report 2012 to the reclassified assets.

Other financial instruments not carried at fair value are not managed on a fair value basis, for example, retail loans and deposits and credit facilities extended to corporate clients. For these instruments fair values are calculated for disclosure purposes only and do not impact the balance sheet or income statement. Additionally, since the instruments generally do not trade there is significant management judgment required to determine these fair values.

Estimated fair value of financial instruments not carried at fair value on the balance sheet1

 

Jun 30, 2013

in € m.

Carrying value

Fair value

1

Amounts generally presented on a gross basis, in line with the Group’s accounting policy regarding offsetting of financial instruments as described in Note 01 “Significant Accounting Policies” of the Group’s Financial Report 2012.

Financial assets:

 

 

Cash and due from banks

21,195

21,195

Interest-earning deposits with banks

95,492

95,502

Central bank funds sold and securities purchased under resale agreements

36,217

36,217

Securities borrowed

28,879

28,879

Loans

387,751

388,716

Other financial assets

177,735

177,701

 

 

 

Financial liabilities:

 

 

Deposits

553,844

554,187

Central bank funds purchased and securities sold under repurchase agreements

28,027

28,027

Securities loaned

2,933

2,933

Other short-term borrowings

71,731

71,725

Other financial liabilities

219,293

219,293

Long-term debt

142,775

142,664

Trust preferred securities

12,321

12,831