# Commission Decision of 18 July 2011 on State aid C 15/09 (ex N 196/09), which Germany implemented and is planning to implement for Hypo Real Estate (notified under document C(2011) 5157) (Only the German text is authentic) (Text with EEA relevance) (2012/118/EU), Division (vii): The corrected IFRS group balance sheet corresponds to the IFRS group balance sheet of the PBB sub-group, corrected for the one-off and pass-through effects stemming from the transfer of non-strategic assets to the winding-up institution FMS-WM. This relates, for instance, to ECB funding of the winding-up institution or upgrades to the transfer channels which have not yet been implemented, e.g. back-to-back instead of novation for derivatives. In addition to the assets required for proper running of the bank, the PBB sub-group's corrected IFRS group balance sheet contains:

Extent: E+W+S+N.I.

(a) the interest-bearing assets of the strategically relevant portfolio (real estate finance, public investment finance) (paragraph 4(i));
(b) the interest-bearing assets of the non-strategic budget finance portfolio which runs off onto the balance sheet; and
(c) the assets which were transferred to the winding-up institution synthetically, but without transfer of beneficial ownership and therefore without derecognition from the PBB balance sheet, which are entered in PBB's mortgage cover pool.

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Source: https://www.legislation.gov.uk/eudn/2012/118/annex/division/4/division/vii (the official version)
Page: https://openlegislation.uk/eu-decision-2012-118/annex/division-4/division-vii
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.