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Deutsche Post World Net Annual Report 2007
48.2.2 Derivatives
e following table gives an overview of the derivatives used within
Deutsche Post World Net (excluding Deutsche Postbank Group) and
their fair values. Derivatives with amortising notional volumes are re-
ported in the full amount at maturity:
Derivate fi nancial instruments
€m Fair values 2007 according to maturity
2006 2007 Assets Liabilities
Notional
amount
Fair
value
Notional
amount
Fair value
of assets
Fair value
of liabilities
Total fair
value
Up
to 1
year
Up
to 2
years
Up
to 3
years
Up
to 4
years
Up
to 5
years
> 5
years
Up
to 1
year
Up
to 2
years
Up
to 3
years
Up
to 4
years
Up
to 5
years
> 5
years
Interest rate products
Interest rate swaps 1,764 11 1,209 2 –26 –24 000002 0000–2–24
of which cash fl ow
hedges 186 6 367 2 –15 –13 000002 00000–15
of which fair value hedges 1,478 9 842 0 –11 –11 000000 0000–2–9
of which held for trading 100– 4 0 0 0 0 000000 000000
FRAs 0 0 0 0 0 0 000000 000000
Interest rate options 150 0 0 0 0 0 000000 000000
of which cash fl ow
hedges 0 0 0 0 0 0 000000 000000
of which held for trading 150 0 0 0 0 0 000000 000000
Other 0 0 0 0 0 0 000000 000000
1,914 11 1,209 2 –26 –24 000002 0000–2–24
Currency derivatives
Cur r ency f or w ar ds 1,603 – 63 1,768 23 – 63 – 40 23 0 0 0 0 0 –35 – 8 – 8 –7 – 4 –1
of which cash fl ow
he dg e s 557 –38 1,063 18 –59 – 41 18 0 0 0 0 0 –31 – 8 – 8 –7 – 4 –1
of which net investment
hedges 315–16 0 0 0 0 000000 000000
of which held for trading 731–9 705 5 – 4 1 500000– 400000
Currency options 162 3 460 1 –12 –11 010000–5–70000
of which cash fl ow
hedges 162 3 460 1 –12 –11 010000–5–70000
Currency swaps 3,896 26 1,977 28 –19 9 28 0 0 0 0 0 –19 0 0 0 0 0
of which cash fl ow
hedges 62–1 311 8 –7 1 800000–700000
of which held for trading 3,834 27 1,666 20 –12 8 20 0 0 0 0 0 –12 0 0 0 0 0
Cross-currency swaps 328–19 299 24 –36 –12 0000024 000–7–290
of which cash fl ow
hedges 214 7 203 24 –7 17 0000024 000–700
of which fair value
hedges 114–26 95 0 –29 –29 000000 0000–290
of which held for trading 0 0 0 0 0 0 000000 000000
5,989 –53 4,505 76 –130 –54 51 1 0 0 0 24 –59 –15 – 8 –14 –33 –1
Transactions based on
commodity prices
Fuel hedging programme 374–31 0 0 0 0 000000 000000
of which cash fl ow
hedges 374–31 0 0 0 0 000000 000000
of which held for trading 0 0 0 0 0 0 000000 000000