Fair Value of Financial Instruments not carried at Fair Value

 (unaudited)

This section should be read in conjunction with Note 15 “Fair Value of Financial Instruments not carried at Fair Value” of the Group’s Financial Report 2013.

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 14 “Financial Instruments carried at Fair Value” of the Group’s Financial Report 2013. 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 14 “Financial Instruments carried at Fair Value” of the Group’s Financial Report 2013 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, 2014

Dec 31, 2013

in € m.

Carrying value

Fair value

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 1 “Significant Accounting Policies and Critical Accounting Estimates” of the Group’s Financial Report 2013.

Financial assets:

 

 

 

 

Cash and due from banks

21,096

21,096

17,155

17,155

Interest-earning deposits with banks

84,076

84,080

77,984

77,985

Central bank funds sold and securities purchased under resale agreements

28,827

28,827

27,363

27,363

Securities borrowed

25,147

25,147

20,870

20,870

Loans

387,901

392,384

376,582

378,085

Other financial assets

146,455

146,454

92,507

92,532

 

 

 

 

 

Financial liabilities:

 

 

 

 

Deposits

537,309

537,013

527,750

527,609

Central bank funds purchased and securities sold under repurchase agreements

13,426

13,427

13,381

13,385

Securities loaned

3,957

3,957

2,304

2,304

Other short-term borrowings

56,623

56,618

59,767

59,763

Other financial liabilities

177,284

177,284

142,649

142,666

Long-term debt

140,536

141,958

133,082

134,359

Trust preferred securities

10,118

11,532

11,926

12,915