(9) Financial assets at fair value through profit or loss
|N73||FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS|
|FIGURES IN EUR MILLION|
|Government debt securities of EU member states||31||347|
|Other foreign government debt securities||39||195|
|Debt securities issued by quasi-governmental entities1)||34||38|
|Covered bonds/asset-backed securities||24||91|
|Total fixed-income securities||797||1,346|
|Investment funds (variable-yield securities)||52||55|
|Other variable-yield securities||35||28|
|Total financial assets classified at fair value through profit or loss||884||1,429|
|Government debt securities of EU member states||—||15|
|Other foreign government debt securities||1||—|
|Total fixed-income securities||4||16|
|Investment funds (variable-yield securities)||120||123|
|Total financial assets held for trading||206||213|
|1) Debt securities issued by quasi-governmental entities include securities of EUR 7 (8) million that are guaranteed by the Federal Republic of Germany, other EU states or German federal states|
The book value of financial assets at fair value through profit or loss is based on fair values.
The item “Covered bonds, asset-backed securities” includes German covered bonds (Pfandbriefe) with a carrying amount of EUR 12 (11) million, which corresponds to 50 (12)%.
|N74||CONTRACTUAL MATURITIES OF FIXED-INCOME SECURITIES|
|FIGURES IN EUR MILLION|
|One year or sooner||146||337|
|Later than one year, up to two years||144||151|
|Later than two years, up to three years||103||100|
|Later than three years, up to four years||61||71|
|Later than four years, up to five years||32||54|
|Later than five years, up to ten years||48||343|
|Later than ten years||267||306|
|1) Adjusted on the basis of IAS 8. Cf. “Accounting policies” section of the Notes, subsection “Changes in accounting policies and accounting errors”|
The rating categories are based on the classifications of leading international rating agencies.
Financial assets classified at fair value through profit or loss (with no trading intention) include, inter alia, structured products in respect of which the fair value option afforded by IAS 39 was exercised. The carrying amount of these financial assets constitutes – contrary to a purely economic perspective – the maximum credit exposure. The amount with respect to the change in fair value that is attributable to changes in the credit risk of financial assets was EUR 4 (2) million in the reporting period and –EUR 4 (–3) million on an accumulated basis. There are no credit derivatives or similar hedging instruments for these securities.