Encumbered assets of the Group presented in the above table are at the same time encumbered assets of the Bank. Encumbrance between entities of the Group is not recognised.
Encumbered assets of the Group are denominated in PLN, with exception of deposits placed as a settlement of derivative transactions (point 10 of the above table), which are concluded mostly in EUR.
Additionally, as at December 31, 2018, the Group had concluded short-term transactions (usually settled within 7 days) of Treasury securities sale with a repurchase agreement, subject of securities worth PLN 50,295 thousand.
Considering values, the level of assets encumbrance of the Bank and the Group is immaterial and is not important for a model of financing of activity.