CA Indosuez (Switzerland) SA - 2018 Annual Report

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CA Indosuez (Switzerland) SA

5.10. Other assets and liabilities

Other assets

Other liabilities

(in thousands of CHF) Compensation account

31.12.2018 31.12.2017 31.12.2018 31.12.2017

41,715

29,776

-

-

Internal banking transactions

31

4,702

-

163

Indirect taxes

16,124

13,353

1,922

2,508

Other assets and liabilities

2,540

2,618

4,336

29

Total

60,410

50,449

6,258

2,700

5.11. Assets pledged or assigned to secure own commitments and assets under reservation of ownership

31.12.2018

31.12.2017

Effective commitments Book value

Effective commitments

(in thousands of CHF)

Book value

Financial investments*

115,246

-

159,848

1,432

Other assets**

1,370

-

1,538

168

-

1,600

Total pledged/assigned assets

116,616

161,386

* Financial investments consist of debt securities used as part of liquidity-shortage financing operations. ** Other assets consist primarily of rental deposits.

5.12. Liabilities relating to own pension schemes

(in thousands of CHF)

31.12.2018

31.12.2017

Amounts due in respect of client deposits

81,029

61,169

Negative replacement values of derivative financial instruments

350

135

Total liabilities relating to own pension schemes

81,379

61,304

5.13. Financial position of own pension schemes

Pension expenses included under "Personnel expenses”

(in thousands of CHF)

2018

2017

CA Indosuez (Switzerland) SA pension fund

16,083

23,038

Employer contribution reserves: No employer contribution reserves were made with pension schemes for the current year or the previous year.

Financial benefits/obligations arising from a funding surplus/deficit The pension fund’s latest annual financial statements, prepared in accordance with Swiss GAAP FER 26, show the following level of funding:

31.12.2017

31.12.2016

CA Indosuez (Switzerland) SA pension fund

107.3%

106.4%

Based on preliminary figures, the degree of coverage is greater than 100% at 31 December 2018. As long as the reserves for fluctuation have not reached the regulatory amount, there is no surplus coverage. As such, there is no economic benefit for the Bank to recognise it on its balance sheet or income statement. Employees in foreign countries are insured through either benefit institutions in the form of collective foundations or collective insurance policies with life insurance companies, or through pension funds managed by their country of tax residence. These various plans do not offer commitments or benefits other than what is recognised on the balance sheet.