ING Direct 2011 Annual Report Download - page 159

Notes to the consolidated annual accounts of ING Group continued
23 LIABILITIES BY MATURITY
The tables below include all financial liabilities by maturity based on contractual, undiscounted cash flows. Furthermore, the undiscounted
future coupon interest on financial liabilities payable is included in a separate line and in the relevant maturity bucket. Derivative liabilities
are included on a net basis if cash flows are settled net. For other derivative liabilities the contractual gross cash flow payable is included.
Non-financial liabilities are included based on a breakdown of the balance sheet amounts by expected maturity. Reference is made to the
liquidity risk paragraph in the ‘Risk Management’ section for a description on how liquidity risk is managed.
Liabilities by maturity
2011
Less than
1 month (1)
1–3
months
3–12
months
1–5
years
Over 5
years
Maturity not
applicable Adjustment (2) Total
Subordinated loans 8,939 –81 8,858
Debt securities in issue 28,883 24,725 13,570 49,469 21,072 2,142 139,861
Other borrowed funds 5,710 93 47 4,156 9,131 12 535 19,684
Amounts due to banks 49,608 11,691 3,825 1,808 5,317 –16 72,233
Customer deposits and
other funds on deposit 385,934 25,895 40,658 12,205 2,079 776 467,547
Financial liabilities at fair value
through profit and loss
– other trading liabilities 38,507 3,109 907 2,773 5,706 633 51,635
– trading derivatives 3,026 4,373 11,493 26,834 23,103 –12,782 56,047
– non-trading derivatives 891 828 4,335 12,536 9,529 1,130 –7,084 22,165
– designated as at fair value
through profit and loss 301 398 2,062 6,007 4,525 –272 13,021
Financial liabilities 512,860 71,112 76,897 115,788 80,462 10,081 –16,149 851,051
Insurance and investment contracts 2,788 1,788 10,345 39,034 105,512 119,366 278,833
Liabilities held for sale (3) 64,265 64,265
Other liabilities 9,064 2,964 10,402 7,130 3,957 1,122 34,639
Non-financial liabilities 11,852 69,017 20,747 46,164 109,469 120,488 377,737
Total liabilities 524,712 140,129 97,644 161,952 189,931 130,569 –16,149 1,228,788
Coupon interest due on
financial liabilities 6,799 1,088 4,185 10,651 41,831 64,554
(1) Includes liabilities on demand.
(2) This column reconciles the contractual undiscounted cash flows on financial liabilities to the balance sheet values. The adjustments mainly relate to the impact
of discounting and, for derivatives, to the fact that the contractual cash flows are presented on a gross basis (unless the cash flows are actually settled net).
(3) Liabilities held for sale consist of the liabilities of the disposal groups classified as held for sale as disclosed in Note 11 ‘Assets and liabilities held for sale’.
The maturity is based on the classification as disposal group held for sale.
1 Who we are 2 Report of the Executive Board 3 Corporate governance 4 Consolidated annual accounts 5 Parent company annual accounts 6 Other information 7 Additional information
157ING Group Annual Report 2011