Financial and
ESG report 2020

Encumbered assets

The following information on encumered assets is presented based on Commission Delegated Regulation (EU) No 2017/2295 supplementing CRR with regard to regulatory technical standards for disclosure of encumbered and unencumbered assets.

Carrying amount of encumbered assets Fair value of encumbered assets Carrying amount of unencumbered assets Fair value of unencumbered assets
Assets of the reporting institution 1 372 600 1 372 600 96 399 185 96 399 185
Debt securities 549 184 549 184 18 422 458 18 422 458
Of which issued by general and local governments 549 184 549 184 17 994 235 17 994 235
Other assets* 823 416 823 416 77 976 727 77 976 727
Of which: deposits in other banks and loans and advances to other banks** 503 532 503 532 121 898 121 898
* „Other assets” covers all on-balance sheet exposures excluding debt securities
** collateral placed in other banks regarding derivatives transactions are presented in that item as encumbered assets

Fair value of encumbered collateral received or own debt
securities issued
Unencumbered, fair value of collateral received or own debt securities issued available
for encumbrance
Assets, collateral received and own debt securities issued 1 372 600 0

Matching liabilities, contingent
liabilities or securities lent
Assets, collateral received
and own debt
securities issued other than covered
bonds and ABSs encumbered
Carrying amount of selected financial liabilities 1 091 054 752 098
Of which: derivative transactions 842 625 503 532

Additional information (Template D)

Information presented in the templates A, B and C were presented based on the following rules:

  • main sources of encumbrance were presented in the below table with data on encumbered assets as at 31 December, 2020; information in that format is disclosed in yearly financial reports with quarterly frequency,
  • assets in the below table in lines 2 and from 5 to 8 were not presented in templates A, B i C because they may not be linked with a specific transaction, nevertheless they may not be freely withdrawn. That approach is used by the Bank in case of fulfilling reporting requirements about unencumbered assets, according to the appendix XVII to Regulatory Technical Standards (EU) No 680/2014.

No. Type of assets Portfolio Secured liability Par value
of assets
Balance sheet value of assets
1. Treasury bonds OK0722 Held to Collect and for Sale Lombard credit granted to the Bank by the NBP 130 000 129 922
2. Treasury bonds OK0722 Held to Collect and for Sale Securing the Fund for Protection of Funds Guaranteed as part of the Bank Guarantee Fund 355 000 354 787
3. Treasury bonds OK0521 Held to Collect and for Sale Security of payment obligation to BFG contribution – compulsory resolution fund 88 000 94 473
4. Treasury bonds OK0521 Held to Collect and for Sale Security of payment obligation to BFG contribution – guarantee fund 71 000 76 223
5. Treasury bonds PS0422 Held to Collect and for Sale initial settlement deposit in KDPW CCP (MARI) 300 000 313 311
6. Cash receivables initial settlement deposit in KDPW CCP (MARI) 100 100
7. Cash receivables ASO guarantee fund (PAGB) 2 415 2 415
8. Cash receivables payment to the OTC Guarantee Fund – KDPW_CCP 5 617 5 617
9. Cash receivables Settlement on transactions concluded 45 153 45 153
10. Deposits Deposits in banks Settlement on transactions concluded 503 532 503 532
11. Leasing receivables Loans and advances Loans granted to Millennnium Leasing 274 731 274 731
TOTAL 1 775 548 1 800 264

Encumbered assets of the Group presented in the above table are at the same time encumbered assets of the Bank, with exception of the position 11, which regards encumbered assets of the Bank’s subsidiary.

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, 2020, 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 248,429 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.

Search results