ING Direct 2004 Annual Report Download - page 103

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ING Group Annual Report 2004 101
OPEN CONTRACTS BY REMAINING TERM, BASED ON THE NOTIONAL AMOUNTS, AS AT 31 DECEMBER
Up to 1 to 2 2 to 3 3 to 4 4 to 5 Over 5
1 year years years years years years Total
2003
INTEREST-RATE CONTRACTS
Over-the-counter:
– swaps 418,371 130,521 79,899 72,306 53,756 206,358 961,211
– forwards 69,018 5,026 157 32 160 74,393
– options purchased 28,716 6,770 5,831 5,317 3,500 12,555 62,689
– options written 16,402 5,065 5,020 4,387 2,654 9,861 43,389
Listed:
– options purchased 4,330 6 30 4,366
– options written 2,152 6 120 2,278
– futures 37,256 3,864 1,347 24 321 802 43,614
CURRENCY CONTRACTS
Over-the-counter:
– swaps 11,415 6,530 4,982 5,521 3,922 8,219 40,589
– forwards 190,909 8,738 3,171 1,675 775 208 205,476
– options purchased 27,358 1,750 420 2 1 12 29,543
– options written 15,243 908 41 2 1 12 16,207
Listed:
– options purchased 375 375
– options written 317 317
– futures 365 98 17 61 541
EQUITY CONTRACTS
Over-the-counter:
– swaps 7,090 7 27 49 152 25 7,350
– forwards 10 10
– options purchased 3,179 1,579 934 293 669 528 7,182
– options written 2,418 1,188 617 170 338 160 4,891
Listed:
– options purchased 10,184 1,317 1,029 752 580 13,862
– options written 8,832 1,011 1,342 687 432 12,304
– futures 1,056 1,056
854,996 174,384 104,834 91,185 67,194 239,050 1,531,643
OPEN CONTRACTS BY COUNTERPARTY
Unweigh- Weighted Unweigh- Weighted
Notional ted credit credit Notional ted credit credit
amount equivalent equivalent amount equivalent equivalent
2004 2003
Public sector 75,241 363 90,025 283
Banks 1,517,336 34,324 6,864 1,219,686 27,856 5,571
Other 147,086 5,134 2,567 221,932 5,625 2,813
1,739,663 39,821 9,431 1,531,643 33,764 8,384
FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES
The following table presents the estimated fair values of ING Group's financial assets and liabilities. Certain balance sheet
items are not included in the table as they do not comply with the definition of a financial asset or liability. The aggregation
of the fair values presented hereunder does not represent, and should not be construed as representing, the underlying
value of ING Group.