- - - - - - - - - - - - - - - - - - - - Inhoudsopgave Voorwoord Bestuursverslag Corporate governance Consolidated Financial Statements Company Financial Statements Pillar 3 The management monitors the market value of collateral obtained and requires additional collateral where necessary. Rabobank also uses credit derivatives to manage credit risks and it further mitigates its exposure to credit risk by entering into master netting arrangements with counterparties for a significant volume of transactions. In general, master netting arrangements do not lead to the offsetting of assets and liabilities included in the statement of financial position because transactions are usually settled gross.The credit risk is limited by master netting arrangements, but only to the extent that if an event or cancellation occurs, all amounts involving the counterparty are frozen and settled net. The total credit risk exposure from derivatives to which offsetting arrangements apply is highly sensitive to the closure of new transactions, the expiry of existing transactions and fluctuations in market interest and exchange rates. The table below shows offsets which have been applied in the consolidated balance sheet (IAS 32 Offsetting) and offsets which have not been applied in the consolidated balance sheet (Other offsetting). The other offsets consist of securities Rabobank has received from reverse repurchase transactions and securities Rabobank has provided in relation to loans for repurchase transactions. The table on the next page sets out the maximum credit risk to which Rabobank is exposed on the reporting date in respect of the various categories of risk, without taking into account any collateral or other measures for restricting credit risk. It also shows the financial effect of any collateral provided or other types of credit risk reduction. In some cases the amounts stated deviate from the carrying amounts because the outstanding equity instruments are not included in the maximum credit risk. Offsetting of financial instruments in millions of euros Gross carrying amount IAS 32 Offsetting Net carrying amount included in balance sheet Master netting agreements Other offsetting Net value after other offsetting On 31 December 2016 Loans and advances to banks 26,129 (685) 25,444 (13,817) 11,627 Derivatives 115,541 (73,169) 42,372 (29,950) 12,422 Loans and advances to customers 466,990 (14,183) 452,807 (16,114) 436,693 Other assets 8,253 (375) 7,878 7,878 Total 616,913 (88,412) 528,501 (29,950) (29,931) 468,620 Deposits from banks 24,541 (2,535) 22,006 (401) 21,605 Deposits from customers 356,847 (9,135) 347,712 (215) 347,497 Derivatives and financial liabilities held for trading 124,391 (76,367) 48,024 (29,950) 18,074 Other liabilities 8,807 (375) 8,432 8,432 Total 514,586 (88,412) 426,174 (29,950) (616) 395,608 On 31 December 2015 Loans and advances to banks 33,107 (673) 32,434 (18,888) 13,546 Derivatives 108,741 (60,628) 48,113 (36,047) 12,066 Loans and advances to customers 476,981 (10,988) 465,993 (18,965) 447,028 Other assets 8,234 (380) 7,854 7,854 Total 627,063 (72,669) 554,394 (36,047) (37,853) 480,494 Deposits from banks 21,336 (2,298) 19,038 (589) 18,449 Deposits from customers 350,314 (4,430) 345,884 (486) 345,398 Derivatives 120,117 (65,561) 54,556 (36,047) 18,509 Other liabilities 8,703 (380) 8,323 8,323 Total 500,470 (72,669) 427,801 (36,047) (1/075) 390,679 195 Notes to the consolidated financial statements

Rabobank Bronnenarchief

Jaarverslagen Rabobank | 2016 | | pagina 196