Notes to the consolidated balance sheet (continued)
Liabilities (continued)
20 Financial liabilities at fair value through profit and loss
Financial liabilities at fair value through profit and loss
| 2008 | 2007 | |
|---|---|---|
| Trading liabilities | 152,616 | 148,988 |
| Non-trading derivatives | 21,773 | 6,951 |
| Designated as at fair value through profit and loss | 14,009 | 13,882 |
| 188,398 | 169,821 |
Trading liabilities by type
| 2008 | 2007 | |
|---|---|---|
| Equity securities | 3,338 | 12,271 |
| Debt securities | 12,448 | 10,301 |
| Funds on deposit | 64,463 | 97,857 |
| Derivatives | 72,367 | 28,559 |
| 152,616 | 148,988 |
As at 31 December 2008, the Funds on deposit include amounts payable of EUR 63,107 million (2007: EUR 93,781 million) with regard to repurchase transactions.
Non-trading derivatives by type
| 2008 | 2007 | |
|---|---|---|
| Derivatives used in: | ||
| – fair value hedges | 8,912 | 958 |
| – cash flow hedges | 6,089 | 3,188 |
| – hedges of net investments in foreign operations | 370 | 352 |
| Other non-trading derivatives | 6,402 | 2,453 |
| 21,773 | 6,951 |
Designated as at fair value through profit and loss by type
| 2008 | 2007 | |
|---|---|---|
| Debt securities | 9,963 | 10,902 |
| Funds entrusted | 1,972 | 756 |
| Subordinated liabilities | 1,733 | 1,876 |
| Other | 341 | 348 |
| 14,009 | 13,882 |
The change in the fair value of financial liabilities designated as at fair value through profit and loss attributable to changes in the credit risk of that liability during 2008 was EUR 230 million (2007: EUR 20 million). This change has been determined as the amount of change in fair value of the financial liability that is not attributable to changes in market conditions that gave rise to market risk (i.e. mainly interest rate risk based on yield curves).
The amount that ING Group is contractually required to pay at maturity to the holders of financial liabilities designated as at fair value through profit and loss is EUR 14,336 million (2007: EUR 13,845 million).
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