Other notes to the financial statements
27 Professional securities transactions
and assets not freely available
28 Con tin gen t liabilities
Contents Introduction Management report Appendices
Corporate governance
Consolidated Financial Statements
Company Financial Statements
Reverse repurchase transactions and securities borrowing
agreements concluded by Rabobank are included under'Loans
and advances to banks'or'Loans and advances to customers'
and as per 31 December amount to:
In millions of euros
Loans and advances to banks
Loans and advances to customers
Total
2017
16,786
13,076
29,862
2016
12,596
16,536
29,132
Repurchase transactions and securities lending agreements
concluded by Rabobank are included under'Due to banks'and
'Due to customers'as of 31 December totalled:
In millions of euros
Due to banks
Due to customers
Total
2017
359
107
466
2016
418
209
627
The assets referred to in the table below (with exception
to professional securities transactions) were provided to
counterparties as security for (contingent) liabilities. If Rabobank
remains in default the counterparties may use the security to
settle the debt.
In millions of euros 2017 2016
Assets not freely available: Related to type of liabilities:
Loans and advances to banks Derivatives 3,297 4,702
Loans and advances to
customers
Interest-bearing securities
Total
Due to customers
Due to customers
8,020 5,978
4,195 6,276
15,512 16,956
Rabobank enters into irrevocable loan commitments as well
as contingent liabilities consisting of financial guarantees and
standby letters of credit on behalf of its customers. Under these
contracts Rabobank is required to perform under an obligation
agreement or to make payments to the beneficiary on third
party's failure to meet its obligations. The following table shows
the amount of the maximum potential utilisation of credit
related contingent liabilities.
In millions of euros
2017
2016
Contingent liabilities consist of:
Financial guarantees
7,412
11,010
Loan commitments
33,967
36,285
Other commitments
20,656
23,518
Total contingent liabilities
62,035
70,813
Of which:
Contingent liabilities of group companies
14,975
18,864
Liabilities relating to operating leases
Rabobank has concluded various operating lease contracts as
lessee, mainly with respect to properties, information systems
and cars. The future net minimum lease payments under non-
cancellable operating leases can be broken down as follows:
In millions of euros
2017
2016
Not later than 1 year
93
124
Later than 1 year but not later than 5 years
312
279
Later than 5 years
233
346
Total liabilities relating to operating leases
638
749
The gross minimum lease payments The expected future
minimum lease payments receivable from sub-leases are nil
(2016: nil). The operating lease expenses are 12 (2016: 52).
These are included in 'Other administrative expenses'in the
statement of income.
Rabobank Annual Report 2017 - Company financial statements
262
