Encumbered assets

The following table presents information about the encumbered assets of the Group. For purposes of this Disclosure, an asset should be treated as encumbered if it has been pledged or if it is a subject to any form of arrangement to secure, collateralise or credit-support any on-balance-sheet or off-balance-sheet transaction from which it cannot be freely withdrawn (for instance, to be pledged for funding purposes). Additionally, to consider a given asset as the encumbered one, it should exists a possibility to assign it to a certain transaction (as an effect, e.g., securities being a coverage of Deposits’ Guarantee Fund in Banking Guarantee Funds, although may not be freely withdraw, are not considered as encumbered assets, because they are not assigned to any transaction. (Art. 443)

As at 31 December 2016 the Group’s used assets in order to secure obligations from following transactions:

• lombard credit,
• loan agreement,
• derivatives transactions.