DHL 1999 Annual Report Download - page 114
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Notes
125
Receivables and marketable securities from financial
services break down as follows:
Receivables from banks and from customers are recog-
nized at cost, if appropriate, net of depreciation. Pre-
mium and discount are recognized under the respective
item and are accrued, in accordance with their respec-
tive maturities, as interest expense (under raw material
and consumables used, and expenses from banking
operations) or as interest income (under revenue and
income from banking operations).
Placements with banks and loans and advances to
customers are carried at cost, if appropriate, net of
depreciation. Premium and discount are recognized
under the respective balance sheet item and accrued as
interest expense (under raw material and consumables
used, and expenses from banking operations) or as in-
terest income (under revenue and income from banking
operations).
Special risks involved in lending are fully taken into
consideration by applying itemized and general al-
lowances. Itemized allowances apply to existing credit-
standing risks, to the amount of the potential loss.
General allowances apply to latent credit risks. The
amounts of allowances are determined based on expe-
riences with previous actual losses.
Uncollectable loans and advances include those subject
to default action and legal proceedings by the bank.
Default proceedings are generally IT-based and provide
for three steps, depending on the number of days a
facility has been overdrawn or on the number of back
installments. After expiration of the final deadline the
loan is terminated and legal proceedings are initiated,
including recovery of the receivables.
Itemized allowances are applied to the provisions for
loans and advances. Based on the average repayment
rates, the bank determines an itemized bad loan charge
ratio. Prior-year charges for terminated loans are ad-
justed in line with the updated repayment rates.
Default interest is capitalized and carried as receiv-
ables,and a respective charge is made.
No amounts were set aside in respect of general banking
risks according to IAS 30.50.
Placements with banks
payable on demand
Other receivables
Loans and advances to customers
Provisions for loans and advances
from general allowances
from itemized allowances
Trade assets
Debt securities and other
fixed-income securities
Equities
Investment certificates
Financial assets
Debt securities and other
fixed-income securities
Equities
Investment certificates
1999 1998
736 0
26,433 0
27,169 0
3,585 0
– 62 0
– 188 0
– 250 0
30,504 0
7 0
1 0
3 0
11 0
17,024 0
70 0
8,014 0
25,108 0
55,623 0
EUR mill.