Mizuho Bank Europe Annual Report 2018

57 2018 ANNUAL REPORT 22. Commitments (in €’000) 31/12/2018 31/12/2017 Commitments 730,440 855,144 730,440 855,144 The commitments concern the total amount of commitments in respect of undrawn irrevocable facilities that may give rise to a credit risk. 23. Rental commitments MBE has entered into rental agreements for office premises amounting to € 2,148,000 (2017: € 1,189,000) of which € 722,000 (2017: € 698,000) is payable within 1 year. MBE has also entered into other agreements, such as rental agreements for houses for expats, amounting to € 1,290,000 (2017: € 1,325,000), of which € 441,000 (2017: € 418,000) is payable within 1 year. All other amounts are payable between 1 and 5 years. 24. Capital adequacy (in €’000) 31/12/2018 31/12/2017 Total risk weighted amount 2,627,839 2,450,731 Total capital available 449,430 432,950 Core EquityTier 1 (CET 1) Ratio 17.10% 17.67% 25. Derecognized assets/liabilities information The specification of the drawn part of the fully derecognized facilities is as follows: (in €’000) 31/12/2018 31/12/2017 Assets 3,176,296 3,319,153 Liabilities (3,176,296) (3,319,153) Net position - - Net result 10,311 10,632 The derecognized assets and liabilities have a zero solvency weighting and comprise of transactions, fully covered by Mizuho Bank Ltd., acting through its London branch, a 100% shareholder of Mizuho Bank Europe N.V. The undrawn part of the facilities are also fully covered by Mizuho Bank Ltd.

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