F Other disclosures

40. Capital requirements and regulatory indicators

	Dec. 31, 2021 € million	Dec. 31, 2020 € million
Total capital	119,861	115,480
Tier 1 capital	114,799	108,259¹
of which: Common Equity Tier 1	114,649	108,172¹
of which: Additional Tier 1 capital	150	87
Tier 2 capital	5,061	7,221¹
Total risk exposure	757,719	706,821

Common Equity Tier 1 capital ratio (percent)	15.1	15.3¹
Tier 1 capital ratio (percent)	15.2	15.3¹
Total capital ratio (percent)	15.8	16.3¹

Leverage ratio (percent)	8.0	8.0

1 Amount adjusted

The capital ratios as well as the leverage ratio have been calculated since the reporting date (December 31, 2021) on the basis of IFRS-based rules. The disclosure of the consolidated leverage ratio of the bank-specific protection system is determined using the transitional definition for Tier 1 capital pursuant to article 429 (2) CRR in conjunction with article 499 (1) CRR.

41. Financial guarantee contracts and loan commitments

	Dec. 31, 2021 € million	Dec. 31, 2020 € million
Financial guarantee contracts	22,588	21,037
Loan commitments	123,577	109,018
Total	146,165	130,055

The amounts shown for financial guarantee contracts and loan commitments are the nominal values of the respective exposure.

42. Trust activities

	Dec. 31, 2021 € million	Dec. 31, 2020 € million
Trust assets	3,830	3,670
of which: trust loans	3,540	3,098¹
Trust liabilities	3,830	3,670
of which: trust loans	3,540	3,098¹

1 Amount adjusted.

43. Asset management by the Union Investment Group

	Dec. 31, 2021 € million	Dec. 31, 2020 € million
Fund assets	410,304	347,270
Other types of asset management	61,263	53,842
Unit-linked asset management	7,245	3,191
Institutional asset management	7,366	9,069
Advisory and outsourcing	46,652	41,582
Accounts managed by third parties	–17,467	–15,177
Total	454,100	385,935

As at the balance sheet date, the Union Investment Group (through Union Asset Management Holding AG) had total assets under management of €454,100 million (December 31, 2020: €385,935 million). The fund assets comprise equity funds, fixed-income funds, money market funds, mixed funds, other securities funds, capital preservation funds, real estate funds, alternative investment funds and hybrid funds issued by Union Investment Group.

In addition, Union Investment Group has assets under management within the scope of institutional asset management, unit-linked asset management, and advisory and outsourcing. The fund volume of funds that have been issued by Union Investment Group but whose portfolio management has been outsourced is shown as a deduction. The definition of assets under management is based on the aggregate statistics from the Federal Association of German Fund Management Companies (BVI), Frankfurt/Main.

44. Leases

Finance leases with the Cooperative Financial Network as lessor

	Dec. 31, 2021 € million	Dec. 31, 2020 € million
Gross investment	789	1,154
Up to 1 year	314	431
More than 1 year and up to 2 years	207	308
More than 2 years and up to 3 years	125	195
More than 3 years and up to 4 years	68	110
More than 4 years and up to 5 years	40	53
More than 5 years	34	57
less unearned finance income	–37	–58
Net investment	752	1,096
less present value of unguaranteed residual values	–17	–30
Present value of minimum lease payment receivables	735	1,066

The VR Smart Finanz sub-group is active as finance lessor in the Cooperative Financial Network. The entities of the VR Smart Finanz sub-group enter into leases for machinery used in production as well as photovoltaics. Apart from office equipment, leases also refer to medical technology, motor vehicles and software.

45. Changes in the contract portfolios held by Bausparkasse Schwäbisch Hall

	Not allocated		Allocated		Total
Home savings sum (€ million)	Number of contracts	Home savings sum	Number of contracts	Home savings sum	Number of contracts	Home savings sum
Balance as at Dec. 31 2020	7,468,998	301,079	526,061	14,475	7,995,059	315,554
Additions in 2021 as a result of
New contracts (redeemed contracts)¹	436,096	22,233	–	–	436,096	22,233
Transfers	18,156	613	419	13	18,575	626
Allocation waivers and cancellations	6,372	281	–	–	6,372	281
Splitting	106,050	–	22	–	106,072	–
Allocations and acceptance of allocations	–	–	437,742	11,768	437,742	11,768
Other	48,468	1,774	13	–	48,481	1,774
Total	615,142	24,901	438,196	11,781	1,053,338	36,682
Disposals in 2021 as a result of
Allocations and acceptance of allocations	–437,742	–11,768	–	–	–437,742	–11,768
Reductions	–	–1,125	–	–	–	–1,125
Termination	–364,337	–12,668	–368,825	–9,146	–733,162	–21,814
Transfers	–18,156	–613	–419	–13	–18,575	–626
Pooling¹	–45,128	–	–	–	–45,128	–
Expiration	–	–	–99,075	–2,695	–99,075	–2,695
Allocation waivers and cancellations	–	–	–6,372	–281	–6,372	–281
Other	–48,468	–1,774	–13	–	–48,481	–1,774
Total	–913,831	–27,948	–474,704	–12,135	–1,388,535	–40,083
Net addition/disposal	–298,689	–3,047	–36,508	–354	–335,197	–3,401
Balance as at Dec. 31, 2021	7,170,309	298,032	489,553	14,121	7,659,862	312,153

1 Including increases.

Volume of unredeemed contracts

	Number of contracts	Home savings sum € million
Contracts signed prior to Jan 1, 2021	33,580	2,578
Contracts signed in 2021	137,050	10,843

46. Changes in the allocation assets of Bausparkasse Schwäbisch Hall

	2021 € million
Additions
Amounts carried forward from 2020 (surplus)
Amounts not yet disbursed	62,875
Additions in 2021
Savings deposits (including credited residential construction bonuses)	10,067
Repayable amounts (including credited residential construction bonuses)¹	1,248
Interest on home savings deposits	755
Total	74,945
Withdrawals
Withdrawals in 2021
Amounts allocated (if disbursed)
Home savings deposits	7,169
Home savings loans	1,198
Repayment of deposits on non-allocated home savings contracts	2,223
Surplus of additions
Amounts not yet disbursed at the end of 2021²	64,355
Total	74,945

1 Repayable amounts are the portion of the loan principal actually repaid.
2 The surplus amounts allocated include:
a) undisbursed home savings deposits from allocated home savings contracts: €109 million
b) undisbursed home savings loans from funds allocated: €2,819 million

47. Cover statement for the mortgages and local authority loans extended by the mortgage banks

	Mortgage Pfandbriefe		Public-sector Pfandbriefe
	Dec. 31, 2021 € million	Dec. 31, 2020 € million	Dec. 31, 2021 € million	Dec. 31, 2020 € million
Ordinary cover	79,773	75,148	15,512	17,220
Loans and advances to banks	32	23	320	216
of which: Mortgage loans	32	23	–	–
of which: Local authority loans	-	-	320	216
Loans and advances to customers	79,594	74,978	12,806	14,445
of which: Mortgage loans	79,594	74,978	34	37
of which: Local authority loans	-	-	12,772	14,408
Investments consisting of bonds and other fixed-income securities	-	-	2,386	2,559
Property, plant and equipment	147	147	–	–
Extended cover	2,148	2,062	–	62
Loans and advances to banks	225	250¹	–	62
Investments consisting of bonds and other fixed-income securities	1,923	1,812¹	–	–
Total cover	81,921	77,210	15,512	17,282
Pfandbriefe requiring cover	–73,228	–69,075	–13,679	–14,866
Nominal excess cover	8,693	8,135	1,833	2,416
Present value of excess cover	14,420	14,033	2,758	3,702
Risk-related present value of excess cover	12,900	12,635	2,208	3,140

1 Amount adjusted.

The present value of excess cover is higher than the nominal excess cover because it includes an interest component.

Maturity structure of mortgage Pfandbriefe and public-sector Pfandbriefe in issue

	Dec. 31, 2021 € million	Dec. 31, 2020 € million
Mortgage Pfandbriefe	73,229	69,075
≤ 6 months	3,301	3,166
> 6 months and ≤ 12 months	2,696	3,379
> 12 months and ≤ 18 months	3,461	3,300
> 18 months and ≤ 2 years	2,991	2,574
> 2 years and ≤ 3 years	6,195	5,517
> 3 years and ≤ 4 years	6,232	4,750
> 4 years and ≤ 5 years	7,935	5,812
> 5 years and ≤ 10 years	24,010	25,194
> 10 years	16,408	15,383
Public-sector Pfandbriefe	13,679	14,866
≤ 6 months	877	1,513
> 6 months and ≤ 12 months	1,573	693
> 12 months and ≤ 18 months	514	677
> 18 months and ≤ 2 years	395	302
> 2 years and ≤ 3 years	1,004	961
> 3 years and ≤ 4 years	1,331	1,052
> 4 years and ≤ 5 years	911	1,302
> 5 years and ≤ 10 years	2,504	3,375
> 10 years	4,570	4,991

Fixed-interest periods of cover assets

	Dec. 31, 2021 € million	Dec. 31, 2020 € million
Mortgage Pfandbriefe	81,921	77,210
≤ 6 months	3,121	2,953
> 6 months and ≤ 12 months	3,987	3,395
> 12 months and ≤ 18 months	3,387	2,753
> 18 months and ≤ 2 years	3,573	3,672
> 2 years and ≤ 3 years	7,632	6,682
> 3 years and ≤ 4 years	7,662	7,308
> 4 years and ≤ 5 years	7,355	6,926
> 5 years and ≤ 10 years	26,533	26,002
> 10 years	18,671	17,519
Public-sector Pfandbriefe	15,512	17,282
≤ 6 months	583	722
> 6 months and ≤ 12 months	693	662
> 12 months and ≤ 18 months	585	551
> 18 months and ≤ 2 years	630	652
> 2 years and ≤ 3 years	1,186	1,170
> 3 years and ≤ 4 years	1,098	1,379
> 4 years and ≤ 5 years	1,183	1,070
> 5 years and ≤ 10 years	3,492	4,422
> 10 years	6,062	6,654

17 properties were in forced administration as at the reporting date (December 31, 2020: 28). The mortgage loans held as cover include past-due payments for interests to be paid in the amount of €0 million (December 31, 2020: €1 million).