- - - - - - - - - - - - - - - - - Inhoudsopgave Voorwoord Bestuursverslag Corporate governance mortgages and other loan portfolios as part of its financing activities, liquidity management and in order to reduce credit risk. The loans are actually transferred to the structured entities. Own-asset securitisation is handled by RaboAgri Finance (Harvest), Obvion (STORM and STRONG) and DLL (LEAP). As well as having provided cash facilities, Rabobank also acts as a swap counterparty for all own-asset securitisations. Rabobank acts as a sponsor in Nieuw Amsterdam Receivables Corporation. Nieuw Amsterdam issues ABCP in various currencies and provides Rabobank customers access to liquidity through the commercial paper market. Rabobank provides advice and manages the programme, markets ABCP, provides cash facilities and/or credit risk enhancements and other facilities for the underlying transactions and the programme itself. Rabobank consolidates the own-asset securitisation vehicles and Nieuw Amsterdam because it is exposed to or entitled to fluctuating income in respect of its involvement in these Consolidated Financial Statements Company Financial Statements Pillar 3 entities. In addition, Rabobank also has the option to influence the amount of the investor's income by virtue of having control over the entities. 50.2 Non-consolidated structured entities Non-consolidated structured entities refers to all structured entities over which Rabobank has no control. These interests are comprised mainly of debt securities in a securitisation vehicle, including RMBS, ABS and CDO and private equity interests. The amount of these debt securities is almost always limited when compared to the vehicle's total assets. Those securitization vehicles are usually refinanced by issued debt securities or credit facilities. The following table shows the nature and risks of Rabobank's interests in non-consolidated structured entities.The size of non-consolidated structured entities generally reflects the carrying amount of the assets and the contingent liabilities. The maximum exposure equals the carrying amount disclosed in the table below. in millions of euros On 31 December 2016 On 31 December 2015 Assets recognised by Rabobank Securitisations Other Total Securitisations Other Total Financial assets held for trading 38 83 121 1 100 101 Financial assets designated at fair value 92 92 255 72 327 Derivatives 418 418 463 463 Loans and advances to customers 712 712 1,011 1,011 Available-for-sale financial assets 180 41 221 670 61 731 Investments in associates 322 322 395 395 Total financial assets recognised by Rabobank 1,348 538 1,886 2,400 628 3,028 Liabilities recognised by Rabobank Derivatives 4 4 3 3 Deposits from customers 260 260 393 393 Total liabilities recognised by Rabobank 264 - 264 396 - 396 Income from sponsored, non-consolidated structured entities in which Rabobank holds no interest: in millions of euros Fee and commission income Interest income Other results Total income Carrying amount of transferred assets On 31 December 2016 Securitisations 5 5 Asset management Total 5 5 On 31 December 2015 Securitisations 1 46 64 111 Asset management Total 1 46 64 111 243 Notes to the consolidated financial statements

Rabobank Bronnenarchief

Jaarverslagen Rabobank | 2016 | | pagina 244