Transactions with related parties are made in the ordinary course of business and on substantially the same terms, including interest rates and collateral, as those prevailing for comparable transactions with other parties.
Transactions with Key Management Personnel
Key management personnel are those persons having authority and responsibility for planning, directing and controlling the activities of Deutsche Bank Group, directly or indirectly. The Group considers the members of the Management Board as currently mandated and the Supervisory Board of the parent company to constitute key management personnel for purposes of IAS 24. Among the Group’s transactions with key management personnel as of September 30, 2014, were loans and commitments of € 3 million and deposits of € 15 million. As of December 31, 2013, there were loans and commitments of € 4 million and deposits of € 12 million among the Group’s transactions with key management personnel. In addition, the Group provides banking services, such as payment and account services as well as investment advice, to key management personnel and their close family members.
Transactions with Subsidiaries, Associates and Joint Ventures
Transactions between Deutsche Bank AG and its subsidiaries meet the definition of related party transactions. If these transactions are eliminated on consolidation, they are not disclosed as related party transactions. Transactions between the Group and its associated companies and joint ventures and their respective subsidiaries also qualify as related party transactions.
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Loans issued and guarantees granted |
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|
|
Associated companies and other related parties |
|||||
|
in € m. |
Sep 30, 2014 |
Dec 31, 2013 |
||||
|
||||||
|
Loans outstanding, beginning of period |
357 |
918 |
||||
|
Loans issued during the period |
463 |
528 |
||||
|
Loan repayments during the period |
460 |
676 |
||||
|
Changes in the group of consolidated companies |
0 |
(397)1 |
||||
|
Exchange rate changes/other |
16 |
(16) |
||||
|
Loans outstanding, end of period2 |
376 |
357 |
||||
|
|
|
|
||||
|
Other credit risk related transactions: |
|
|
||||
|
Allowance for loan losses |
5 |
6 |
||||
|
Provision for loan losses |
0 |
0 |
||||
|
Guarantees and commitments |
53 |
54 |
||||
|
Deposits received |
||
|
|
Associated companies and other related parties |
|
|
in € m. |
Sep 30, 2014 |
Dec 31, 2013 |
|
Deposits, beginning of period |
167 |
245 |
|
Deposits received during the period |
140 |
105 |
|
Deposits repaid during the period |
86 |
179 |
|
Changes in the group of consolidated companies |
(43) |
(3) |
|
Exchange rate changes/other |
2 |
(2) |
|
Deposits, end of period |
180 |
167 |
Other Transactions
Trading assets and positive market values from derivative financial transactions with associated companies amounted to € 122 million as of September 30, 2014, and € 130 million as of December 31, 2013. Trading liabilities and negative market values from derivative financial transactions with associated companies were nil as of September 30, 2014, and € 1 million as of December 31, 2013.
Transactions with Pension Plans
The Group has business relationships with a number of its pension plans pursuant to which it provides financial services to these plans, including investment management. Pension funds may hold or trade Deutsche Bank AG shares or securities. As of September 30, 2014, transactions with these plans were not material for the Group.