Balance Sheet

The impact of the Postbank sale on our balance sheet Q1 2010 is described below.

Until 2012, by the full completion of the sale, the income statement will only be impacted by imputed interest expenses, gains&losses from the valuation of the forward and options on Postbank shares and deconsolidation effects (depending on Postbank equity at date of sale).
The mandatory exchangeable bond and the cash collateral on put options are shown as non-current financial liabilities on the balance sheet. The forward is shown under financial assets.

Impact on financial liabilities
€m	Module I	Module II	Module III
FY 2009
Mandatory exchangeable bond (included in non-current financial liabilities)	-	2,670	-
Cash colleteral (included in non-current financial liabilities)	-	-	1,200