NIB - 11. Other assets

Nordic Investment Bank – Annual Report 2010

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(11) OTHER ASSETS

Derivatives are included in "Other assets".

(Amounts in EUR million)	2010	2009
Interest rate swaps ¹	10,419	10,970
Currency swaps ²	19,655	16,682
Total, nominal amount	30,075	27,653
Netting of nominal amount per derivative	-28,325	-26,667
Derivative receivables, net	1,750	986
Adjustment to hedge accounting and changes in fair value of non-hedging derivatives	968	478
Derivative instruments	2,718	1,464
Receivables from defaulted counterparties	32	19
Other	5	10
Total	2,755	1,493

¹ Interest rate swaps at floating interest rates EUR 1,975 (2,837) million and fixed interest rates EUR 8,444 (8,133) million.

² Currency swaps at floating interest rates EUR 11,573 (9,379) million and fixed interest rates EUR 8,082 (7,303) million.

Derivatives are carried at fair value in the statement of financial position net per contract. Thus, swap contracts with a positive net fair value are recognised in the statement of financial position under "Other assets", while swap contracts with a negative net fair value are recognised under "Other liabilities".

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