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Tangible and intangible assets
Tangible assets are valued at the cost of acquisition or produc-
tion less scheduled depreciation in accordance with Section 55
(1) BWG (Austrian Banking Act), in conjunction with Section 204
UGB (Austrian Commercial Code).
Additions made in the first half of the year were fully depreciated,
while those in the second half were reported at half the deprecia-
tion for the year.
Low-value assets were fully written-off in the year of purchase.
The service life used as a basis for scheduled depreciation
amounted to 5–67 years for immovable assets, 3–20 years for
movables and 4 years for intangibles.
Extraordinary depreciation was used where a permanent impair-
ment was probable.
Costs for the bank's own issues
Issue costs and premiums or discounts are allocated on a
straight-line basis over the life of the bonds.
Pension provisions
The provisions for pensions are calculated according to recog-
nised actuarial principles using the modified Pagler & Pagler
tables (AVÖ 2008) and the partial value method at an interest rate
of 4% for entitlements, taking into account the individual age of
retirement. A deduction for fluctuations was not applied. Mon-
etary value adjustments were taken into account by applying the
real interest rate.
Provisions for severance payments
and similar obligations
The obligations relating to severance payments as at the balance
sheet date are calculated using actuarial principles and an inter-
est rate of 4 per cent, taking into account the individual statutory
retirement age. The provision for obligations relating to long-serv-
ice payments was calculated according to actuarial mathemati-
cal principles in a manner analogous to that used for severance
payments. A deduction for fluctuations was not applied. Monetary
value adjustments were taken into account by applying the real
interest rate.
Other provisions
In line with the principle of prudence, the other provisions covered
all risks that were identifiable when the balance sheet was pre-
pared, as well as liabilities that were probable or certain, but for
which the amount was uncertain, to an amount deemed neces-
sary by reasonable commercial judgement.
Liabilities
Liabilities are reported at the nominal value or repayment value,
whichever is higher.
Note on the disclosure media in
accordance with Section 26 BWG
(Austrian Banking Act)
Under Section 26 BWG (Austrian Banking Act), banks have to
disclose information on their organisational structure, their risk
management and their risk capital situation at least once per
year. This information is published on the website of RLB Tirol AG
(www.rlb-tirol.at).
Periods to maturity
The receivables from banks not payable on demand have the following periods to maturity:
Residual term to maturity
31.12.2010
Previous year
in EUR
in EUR k
Up to 3 months
907,364,587
1,518,078
More than 3 months and up to 1 year
345,777,845
164,800
More than 1 year and up to 5 years
627,555,827
156,454
More than 5 years
47,629,626
162,115
The receivables from non-banks not payable on demand have the following periods to maturity:
Residual term to maturity
31.12.2010
Previous year
in EUR
in EUR k
Up to 3 months
291,251,744
254,457
More than 3 months and up to 1 year
525,606,980
499,114
More than 1 year and up to 5 years
524,894,614
554,625
More than 5 years
1,059,602,773
968,897
The liabilities to banks not payable on demand have the following periods to maturity:
Residual term to maturity
31.12.2010
Previous year
in EUR
in EUR k
Up to 3 months
1,773,413,626
1,738,434
More than 3 months and up to 1 year
209,687,336
481,353
More than 1 year and up to 5 years
208,887,000
337,164
More than 5 years
123,887,161
103,614
The liabilities to non-banks not payable on demand have the following periods to maturity:
Residual term to maturity
31.12.2010
Previous year
in EUR
in EUR k
Up to 3 months
184,515,748
182,993
More than 3 months and up to 1 year
252,963,303
272,989
More than 1 year and up to 5 years
357,460,466
265,581
More than 5 years
136,912,356
106,244
The bank's own bonds and other fixed-interest securities amounting to EUR 144,394,725 (previous year: kEUR 156,176) will mature in
2011, while bonds issued are due in the amount of EUR 61,432,000 (previous year: kEUR 96,297).
Explanatory notes on balance sheet items
Annual financial statements |
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| Annual financial statements