53. Assets pledged as collateral for liabilities and transferred financial assets

Receivables covered by lease receivables securitization

As at 31 December 2016, receivables covered by lease receivables securitization amounted to PLN 1 376.3 million. They are pledged as collateral for the liabilities in respect of debt securities issued by the special vehicle ROOF Poland Leasing 2014 DAC. Securitized lease receivables are presented as the Group’s assets because they do not meet the criteria for derecognition from the statement of financial position specified in IAS 39. 19. In particular, the Group is not obliged to pay any amounts to final recipients until it has received the corresponding amounts from lessees. In addition, the criterion of an immediate transfer of cash flows from the securitized assets is not met.

Liabilities due to sell-buy-back transactions

Financial assets which the Group does not derecognise from the financial statements include assets pledged as collateral for liabilities due to sell-buy-back transactions (treasury bonds).

Carrying value31.12.201631.12.2015
   
Debt securities181.81 013.0
Amounts due from repurchase agreements205.91 026.1
   
Net value(24.1)(13.1)
 

Liabilities from negative valuation of derivative instruments

Cash deposits with banks include assets held as collateral for own liabilities, inluding settlements due to negative valuation of derivative instruments. The amount of these assets as at 31 December 2016 amounted to PLN 1 288.8 million (as at 31 December 2015 PLN 1 253.6 million).

Preliminary Settlement Deposit of the National Depository for Securities (KDPW)

The Brokerage House of PKO Bank Polski SA holds bonds in the National Depository for Securities as collateral for settlement of transactions with the Clearing House.

Carrying amount/fair value31.12.201631.12.2015
Value of the deposit8.08.0
Nominal value of the pledge8.08.0
Type of the pledgeTreasury bondsTreasury bonds
Carrying amount of the pledge8.08.0

Bank Deposit Guarantee Fund 

 31.12.201631.12.2015
   
Value of the fund1 005608
Nominal value of the pledge1 060650
Type of the pledgeTreasury bondsTreasury bonds
Maturity of the pledge25.01.202425.01.2024
Carrying amount of the pledge1 020.8627.4
 

Assets include Treasury bonds with maturities sufficient to secure their carrying amount over the period defined by the Act. The Fund is increased or decreased on 1 July of each year, in proportion to the amount providing the basis for calculation of mandatory reserve deposits. Those funds are treated as assets held as collateral for own liabilities.

Legal limitations relating to the Group legal title

In the years ended 31 December 2016 and 31 December 2015, there were no intangible assets and tangible fixed assets which ownership by the Group were subject to restrictions and pledged as collateral for liabilities.

Transferred financial assets

As at 31 December 2016 and as at 31 December 2015 the Group did not have transferred financial assets, which are derecognised from the financial statements in their entirety, for which the Group continues involvement in those assets.