17. Subordinated liabilities

This relates to a 10-year bond loan as at 12 July 2006. The nominal interest rate is 5.625% and the issue price is 99.314%. The bonds are subordinated to all other liabilities. During the life of the bond loan, the Bank can purchase and cancel bonds, subject to the consent of the Dutch Central Bank.

In connection with differences between the acquisition prices and redemption values, as at 31 December 2011 an amount of EUR 0.1 million (2010: EUR 0.1 million) has been included under Prepayments and accrued income.

The movement in subordinated liabilities is as follows:

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Amounts in thousands of EUR

2011

2010

 

 

 

Balance sheet value as at 1 January

22,800

22,800

Withdrawal

–7,500

 

 

 

 

 

 

Balance sheet value as at 31 December

15,300

22,800