ING Direct 2011 Annual Report Download - page 163

Notes to the consolidated annual accounts of ING Group continued
26 ASSETS NOT FREELY DISPOSABLE
The assets not freely disposable consist primarily of interest bearing securities pledged to secure deposits from De Nederlandsche Bank
(theDutch central bank) and other banks and serve to secure margin accounts or are used for other purposes required by law. The assets
not freely disposable are as follows:
Assets not freely disposable
2011 2010
Investments 1,610 8,632
Loans and advances to customers 29,800 37,638
Banks 18,033 12,025
Other assets 4,431 8,731
53,874 67,026
Banks includes Amounts due from banks and balances with central banks. In some jurisdictions ING Bank N.V. has an obligation to maintain
a reserve with central banks.
Loans and advances to customers, not freely disposable, includes the loan to the Dutch State in connection with the Illiquid Assets Back-Up
Facility agreement as disclosed in Note 33 ‘Related parties’ and loans that for liquidity purposes have been pledged as collateral in the
United States of EUR 9 billion (2010: EUR 7 billion), Germany of EUR 5 billion (2010: EUR 5 billion) and Canada of nil (2010: EUR 5 billion).
The table does not include assets relating to repurchase and stock lending transactions. Reference is made to Note 3 ‘Financial assets at
fair value through profit and loss’, Note 4 ‘Investments’ and Note 5 ‘Loans and advances to customers’ for the relevant amounts.
There are no material terms and conditions relating to the collateral represented in the above table which are individually significant.
27 CONTINGENT LIABILITIES AND COMMITMENTS
In the normal course of business the Group is party to activities whose risks are not reflected in whole or in part in the consolidated
financial statements. In response to the needs of its customers, the Group offers financial products related to loans. These products
include traditional off-balance sheet credit-related financial instruments.
Contingent liabilities and commitments
2011
Less than
1 month
1–3
months
3–12
months
1–5
years
Over 5
years
Maturity not
applicable Total
Banking operations
Contingent liabilities in respect of
– discounted bills 1 1 2
– guarantees 18,614 867 820 1,484 3,832 25,617
– irrevocable letters of credit 9,271 6,156 1,569 193 17 17,206
– other 452 45 65 8 570
28,338 7,069 2,454 1,685 3,849 43,395
Insurance operations
Commitments 1,148 158 174 227 3115 1,825
Guarantees 9 10 524
1,148 158 174 236 13 120 1,849
Irrevocable facilities 35,972 14,858 5,211 24,354 5,793 86,188
65,458 22,085 7,839 26,275 9,655 120 131,432
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
161ING Group Annual Report 2011