ING Direct 2013 Annual Report Download - page 212

Notes to the consolidated annual accounts of ING Group continued
Liabilities by maturity
2012
Less than
1 month (1)
1-3
months
3-12
months
1-5
years
Over
5 years
Maturity not
applicable Adjustment (2) Total
Subordinated loans 8,817 –31 8,786
Debt securities in issue 12,521 22,543 25,373 48,562 30,626 3,811 143,436
Other borrowed funds 3,971 32 256 5,551 6,348 13 552 16,723
Amounts due to banks 24,016 3,875 3,305 2,757 4,751 38,704
Customer deposits and other funds
on deposit 380,810 27,364 38,098 6,239 2,034 458 455,003
Financial liabilities at fair value
through profit and loss
– other trading liabilities 20,040 2,668 1,404 1,992 4,168 1,245 31,517
– trading derivatives 2,934 3,516 10,365 27,178 21,614 –13,472 52,135
– non-trading derivatives 810 842 3,716 12,070 8,847 1,146 –8,679 18,752
– designated as at fair value
through profit and loss 494 242 938 6,303 5,356 66 13,399
Financial liabilities 445,596 61,082 83,455 110,652 83,744 9,976 –16,050 778,455
Insurance and investment contracts 1,646 1,951 9,156 36,050 79,065 102,082 229,950
Liabilities held for sale(3) 18,900 50,999 69,899
Other liabilities 10,686 3,170 8,282 6,088 3,923 630 32,779
Non-financial liabilities 12,332 24,021 17,438 42,138 82,988 153,711 332,628
Total liabilities 457,928 85,103 100,893 152,790 166,732 163,687 –16,050 1,111,0 83
Coupon interest due on financial
liabilities 1,748 957 4,226 9,169 42,409 58,509
(1) Includes liabilities on demand.
(2)
This column reconciles the contractual undiscounted cash flows on financial liabilities to the balance sheet values. The adjustments mainly relate to the impact
of discounting and, for derivatives, to the fact that the contractual cash flows are presented on a gross basis (unless the cash flows are actually settled net).
(3) Liabilities held for sale consist of the liabilities of the disposal groups classified as held for sale as disclosed in Note 12 ‘Assets and liabilities held for sale’. For
these assets and liabilities, the underlying contractual maturities are no longer relevant to ING. For businesses for which a binding sale agreement exists, all
related assets and liabilities held for sale are classified in accordance with the agreed or expected closing date. For other businesses, for which no sale
agreement exists, assets and liabilities held for sale are included in ‘maturity not applicable’.
50 ASSETS NOT FREELY DISPOSABLE
The assets not freely disposable consist primarily of Loans and advances to customers pledged to secure Debt securities in issue, deposits
from De Nederlandsche Bank (the Dutch central bank) and other banks and serve to secure margin accounts and are used for other
purposes required by law. The assets not freely disposable are as follows:
Assets not freely disposable
2013 (1) 2012
Investments 708 970
Loans and advances to customers 60,441 57,29 6
Banks 12,877 16,420
Other assets 1,105 1,223
75,131 75,909
(1) Excludes ING U.S. as classified as held-for-sale.
In 2013 the disclosure is further aligned with the EBA requirements for asset encumbrance; the 2012 comparatives have been adjusted
accordingly.
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 that have been pledged as collateral for Debt securities in issue and for liquidity purposes, amount in the
Netherlands to EUR 45.9 billion (2012: EUR 46.7 billion), in Germany to EUR 8.4 billion (2012: EUR 2.8 billion), in Belgium EUR 2.5 billion
(2012: nil) and in Spain to nil (2012: EUR 1 billion).
The loan to the Dutch State in connection with the Illiquid Assets Back-Up Facility agreement as disclosed in Note 58 ‘Related parties’ is
included in Loans and advances to customers (2013: EUR 2.7 billion; 2012: EUR 7.8 billion).
The table does not include assets relating to securities lending as well as sale and repurchase transactions. Reference is made to Note 51
‘Transfer of financial assets’.
210 ING Group Annual Report 2013