ING Direct 2011 Annual Report Download - page 126

Reclassifications to Loans and advances to customers and Amounts due from banks
Q2 2009 Q1 2009 Q4 2008
As per reclassification date
Fair value 6,135 22,828 1,594
Range of effective interest rates (weighted average) 1.4%–24.8% 2.1% –11.7% 4.1% –21%
Expected recoverable cash flows 7,118 24,052 1,646
Unrealised fair value losses in shareholders’ equity (before tax) –896 –1,224 –69
Recognised fair value gains (losses) in shareholders’ equity (before tax) between the beginning of the year
in which the reclassification took place and the reclassification date 173 nil –79
Recognised fair value gains (losses) in shareholders’ equity (before tax) in the year prior to
reclassification –971 –192 –20
Recognised impairment (before tax) between the beginning of the year in which the reclassification
took place and the reclassification date nil nil nil
Recognised impairment (before tax) in the year prior
to reclassification nil nil nil
Impact on the financial years after reclassification:
2011
Carrying value as at 31 December 6,734 14,419 633
Fair value as at 31 December 6,524 13,250 648
Unrealised fair value losses recognised in shareholders’ equity (before tax) as at 31 December –307 –446 –8
Effect on shareholders’ equity (before tax) if reclassification had not been made –210 –1,169 15
Effect on result (before tax) if reclassification had not been made nil nil nil
Effect on result (before tax) for the year (mainly interest income) 127 390 28
Recognised impairments (before tax) nil nil nil
Recognised provision for credit losses (before tax) nil nil nil
2010
Carrying value as at 31 December 6,418 16,906 857
Fair value as at 31 December 6,546 16,099 889
Unrealised fair value losses recognised in shareholders’ equity (before tax) as at 31 December –491 –633 –65
Effect on shareholders’ equity (before tax) if reclassification had not been made 128 –807 32
Effect on result (before tax) if reclassification had not been made nil nil nil
Effect on result (before tax) for the year (mainly interest income) 78 467 34
Recognised impairments (before tax) nil nil nil
Recognised provision for credit losses (before tax) nil nil nil
2009
Carrying value as at 31 December 6,147 20,551 1,189
Fair value as at 31 December 6,472 20,175 1,18 4
Unrealised fair value losses in shareholders’ equity (before tax) as at 31 December –734 –902 –67
Effect on shareholders’ equity (before tax) if reclassification had not been made 325 –376 –5
Effect on result (before tax) if reclassification had not been made nil nil nil
Effect on result (before tax) after the reclassification
until 31 December (mainly interest income) 54 629 n/a
Effect on result (before tax) for the year
(mainly interest income) n/a n/a 47
Recognised impairments (before tax) nil nil nil
Recognised provision for credit losses (before tax) nil nil nil
2008
Carrying value as at 31 December 1,592
Fair value as at 31 December 1,565
Unrealised fair value losses recognised in shareholders’ equity (before tax) as at 31 December –79
Effect on shareholders’ equity (before tax) as at 31 December if reclassification had not been made –28
Effect on result (before tax) if reclassification had not been made nil
Effect on result (before tax) after the reclassification until 31 December (mainly interest income) 9
Recognised impairments (before tax) nil
Recognised provision for credit losses (before tax) nil
Notes to the consolidated annual accounts of ING Group continued
124 ING Group Annual Report 2011