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$^{*)}$Without treasury shares 

Impairments on securities available-for-sale totaled ¤ 4,823 (2002: 5,523; 2001: 1,507) mn and are included in other expenses for invest- ments. The first-time application of the rule requiring the immediate write down of an equity if its market value at the balance sheet date has remained permanently below group-wide amortized cost for more than 12 months resulted in an impairment charge of ¤ 409 mn. Reversal of impairments on securities available-for-sale totaled ¤ 2,030 (2002: 679; 2001: 184) mn and are included in other income from investments. 

The actual maturities may deviate from the contractually defined maturities, because certain security holders/borrowers have the right to serve notice on or repay certain obligations ahead of schedule, with or without redemption or early repayment penalties. 

## Securities lending 

Certain entities within the Group participate in securities lending arrangements whereby specific securities are loaned to other institu- tions for short periods of time. On December 31, 2003, the volume of securities loaned out by the Group was ¤ 34,941 (2002: 20,396) mn. 

## Real estate used by third parties 

The gross capitalized values totaled ¤ 13,621 mn at the beginning of the year and ¤ 13,672 mn at the end of the year. Accumulated de- preciation amounted to ¤ 2,874 mn at the beginning of the year and ¤ 3,171 mn at the end of the year. Assets pledged as security and other restrictions on title amount to ¤ 60 (2002: 61) mn. 

Changes in the total carrying value of real estate used by third parties 

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Depreciation includes impairment write-downs of ¤ 30 (2002: 104; 2001: 86) mn. 

Commitments outstanding at the balance sheet date to purchase real estate amounted to ¤51 (2002: 161) mn. 

The fair value of real estate used by third parties was ¤ 13,804 (2002: 14,818) mn at the balance sheet date. Rental income for the fiscal year 2003 was ¤ 986 (2002: 1,141; 2001: 1,108) mn. 

## 8 Loans and advances to banks and customers 

## Loans and advances to banks 

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Receivables due within 1 year total ¤ 115,455 (2002: 84,074) mn, those due after more than 1 year total ¤ 2,356 (2002: 3,156) mn. 

