ING Direct 2009 Annual Report Download - page 154

2.1 Consolidated annual accounts
ING Group Annual Report 2009
152
Additional information to the consolidated balance sheet of ING Group (continued)
25 MAXIMUM CREDIT EXPOSURE
ING Group’s maximum credit exposure as at 31 December 2009 and 2008 is represented as follows:
Maximum credit exposure
2009 2008
Cash and balances with central banks 15,390 22,045
Amounts due from banks
– loans and advances to banks 39,696 40,705
– cash advances, overdrafts and other balances 3,701 7,742
Trading assets:
– debt securities 25,287 26,652
– loans and receivables 41,975 59,449
– derivatives 41,450 71,925
Non-trading derivatives 11,632 16,484
Designated as at fair value through profit and loss 5,517 8,277
Available-for-sale debt securities 188,850 234,030
Held-to-maturity debt securities 14,409 15,440
Loans and advances to customers:
– policy loans 2,903 2,960
– public authorities 51,079 26,385
– secured by mortgages 319,174 318,917
– guaranteed by credit institutions 10,229 5,816
– unsecured loans 5,995 2,612
– other personal lending 19,270 29,615
– mortgage backed securities 22 ,135 9,055
– other corporate lending 147,097 222,533
– other 1,062 1,898
Reinsurance contracts 5,480 5,797
Reinsurance and insurance receivables 2 ,125 3,683
Other receivables 6,700 8,334
Maximum credit exposure on balance sheet 981,156 1,140,354
Off-balance sheet credit commitments
– discounted bills – Bank 11
– guarantees – Bank 21,545 22,391
– irrevocable letters of credit – Bank 12,352 10,458
– other – Bank 202 453
– irrevocable facilities 85,835 89,081
– commitments – Insurance 1,646 4,221
– guarantees – Insurance 3,463 2,460
Maximum credit exposure off balance sheet 125,044 129,065
Maximum credit exposure 1,106,200 1,269,419
The maximum credit exposure for relevant items on the balance sheet is the balance sheet carrying value for the relevant financial assets.
For the off-balance sheet items the maximum credit exposure is the maximum amount that could be required to be paid. Collateral
received is not taken into account.
The manner in which ING Group manages credit risk and determines credit risk exposures for that purpose is explained in the ‘Risk
management’ section.