ING Direct 2009 Annual Report Download - page 143

Notes to the consolidated balance sheet of ING Group (continued)
2.1 Consolidated annual accounts
ING Group Annual Report 2009 141
Non-trading derivatives by type
2009 2008
Derivatives used in:
– fair value hedges 8,866 8,912
– cash flow hedges 6,468 6,089
– hedges of net investments in foreign operations 316 370
Other non-trading derivatives 4,420 6,402
20,070 21,773
Designated as at fair value through profit and loss by type
2009 2008
Debt securities 9,396 9,963
Funds entrusted 560 1,972
Subordinated liabilities 1,518 1,733
Other 341
11,474 14,009
The change in the fair value of financial liabilities designated as at fair value through profit and loss attributable to changes in the credit
risk of that liability during 2009 was EUR –191 million (2008: EUR 230 million) and EUR 39 million (2008: EUR 208 million) on a cumulative
basis. This change has been determined as the amount of change in fair value of the financial liability that is not attributable to changes in
market conditions that gave rise to market risk (i.e. mainly interest rate risk based on yield curves). At 31 December 2009 the fair value of
financial liabilities designated at fair value through profit and loss includes EUR 39 million (2008: EUR 230 million) attributable to own
credit risk.
The amount that ING Group is contractually required to pay at maturity to the holders of financial liabilities designated as at fair value
through profit and loss is EUR 11,444 million (2008: EUR 14,336 million).
21 OTHER LIABILITIES
Other liabilities by type
2009 2008
Deferred tax liabilities 2,399 3,602
Income tax payable 1,225 940
Pension benefits 589 609
Post-employment benefits 175 219
Other staff-related liabilities 484 342
Other taxation and social security contributions 1,001 1,104
Deposits from reinsurers 870 909
Accrued interest 16,789 17,552
Costs payable 2,654 3,764
Amounts payable to brokers 200 89
Amounts payable to policyholders 2,182 2,231
Reorganisation provision 644 583
Other provisions 747 969
Share-based payment plan liabilities 24 11
Prepayments received under property
under development 120 175
Amounts to be settled 2,930 3,753
Dividend payable 425
Other 8,321 8,235
41,354 45,512
Other staff-related liabilities include vacation leave provisions, jubilee provisions and disability/illness provisions.
Other mainly relates to year-end accruals in the normal course of business, none of which are individually material.
Deferred taxes are calculated on all temporary differences under the liability method using tax rates applicable to the jurisdictions in which
the Group is liable to taxation.