ING Direct 2011 Annual Report Download - page 151

Notes to the consolidated annual accounts of ING Group continued
As at 31 December 2011, the Funds on deposit include amounts payable of EUR 38,011 million (2010: EUR 43,995 million) with regard
torepurchase transactions.
Non-trading derivatives by type
2011 2010
Derivatives used in:
– fair value hedges 9,478 8,601
– cash flow hedges 6,462 5,264
– hedges of net investments in foreign operations 159 168
Other non-trading derivatives 6,066 3,749
22,165 17,78 2
Other non-trading derivatives mainly include interest rate swaps for which no hedge accounting is applied.
Designated as at fair value through profit and loss by type
2011 2010
Debt securities 11,271 10,533
Funds entrusted 632 934
Subordinated liabilities 1,118 1,240
13,021 12,707
In 2011, 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 was EUR 377 million (2010: EUR 179 million) and EUR 595 million (2010: EUR 218 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).
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 13,726 million (2010: EUR 12,438 million).
21 OTHER LIABILITIES
Other liabilities by type
2011 2010
Deferred tax liabilities 3,679 2,618
Income tax payable 858 1,210
Pension benefits 378 543
Post-employment benefits 179 172
Other staff-related liabilities 1,111 1,248
Other taxation and social security contributions 898 885
Deposits from reinsurers 1,015 1,007
Accrued interest 11,698 13,220
Costs payable 2,400 2,873
Amounts payable to brokers 72 111
Amounts payable to policyholders 2,173 2,130
Reorganisation provision 599 434
Other provisions 638 533
Share-based payment plan liabilities 39 40
Prepayments received under property under
development 83 173
Amounts to be settled 5,442 5,553
Other 3,377 4,777
34,639 37,527
Deferred taxes are calculated on all temporary differences under the liability method using tax rates applicable in the jurisdictions in which
the Group is liable to taxation.
Other staff-related liabilities include vacation leave provisions, variable compensation provisions, jubilee provisions and disability/illness provisions.
Other mainly relates to year-end accruals in the normal course of business.
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
149ING Group Annual Report 2011