5 Interest-bearing securities
Contents Management report Corporate governance Consolidated financial statements Financial statements Pillar 3
Rabobank has identified assets to which this amendment
applies, whereby the intention has clearly shifted from
holding the securities for the near future as opposed to
selling or trading them in the short term. The reclassifications
were effected as of 1 July 2008 at their fair value at the time.
This note provides details on the impact of the reclassifications
at Rabobank.
The table below shows the carrying amounts and fair values of
the reclassified assets.
in millions of euros
Financial assets held for trading reclassified to loans
Available-for-sale financial assets reclassified to loans
Total financial assets reclassified to loans
31 December 2015
Carrying amoun t Fair value
183 174
714 678
897 852
31 December 2014
Carrying amount Fair value
347 334
1,188 1,213
1,535 1,547
If the reclassification had not been made, net profit for the
assets held for trading would have been 2 higher (2014: 26
higher).The change in the equity position in 2015 would
have been 43 more negative (2014:62 more negative) if the
reclassification of financial assets held for sale had not been
carried out.
Following reclassification, the reclassified financial assets made
the following contribution to operating profit before taxation:
For the year ended 31 December
Net interest income
Loan impairment charges
Operating profit before taxation on
reclassified financial assets held for trading
Net interest income
Loan impairment charges
Operating profit before taxation on
reclassified financial assets held for trading
2015
3
16
2
18
37
121
158
Credit loss costs include reversed impairments and recoveries
subsequent to write-downs to the amount of 3 (2014:148) and
impairments to the amount of 1 (2014: 26).
This item represents interest-bearing negotiable bonds
and other interest-bearing securities, other than short-term
government papers.
Interest-bearing securities of:
Public authorities
Other issuers
Total interest-bearing securities
Breakdown of interest-bearing securities:
Investment portfolio
Investment portfolio containing value
adjustments through the profit and loss
account
Trading portfolio
The portfolio also includes:
Securities issued by group companies
Listed portion of the portfolio
Unlisted securities/group companies
Total interest-bearing securities
25,942
60,534
86,476
82,878
815
2,783
86,476
52,266
28,492
57,984
86,476
27,638
61,768
89,406
83,774
2,476
3,156
89,406
52,157
30,653
58,753
89,406
278 Rabobank Annual Report 2015
