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

 

Sep 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

20,866

20,866

17,155

17,155

Interest-earning deposits with banks

79,201

79,203

77,984

77,985

Central bank funds sold and securities purchased under resale agreements

25,910

25,910

27,363

27,363

Securities borrowed

28,092

28,092

20,870

20,870

Loans

395,842

400,026

376,582

378,085

Other financial assets

157,011

156,994

92,507

92,532

 

 

 

 

 

Financial liabilities:

 

 

 

 

Deposits

543,153

542,846

527,750

527,609

Central bank funds purchased and securities sold under repurchase agreements

9,924

9,925

13,381

13,385

Securities loaned

2,685

2,685

2,304

2,304

Other short-term borrowings

50,471

50,469

59,767

59,763

Other financial liabilities

189,505

189,505

142,649

142,666

Long-term debt

146,166

147,422

133,082

134,359

Trust preferred securities

10,559

11,976

11,926

12,915