v3.25.4
Financial Assets/Liabilities at Fair Value through Profit or Loss
 12 Months Ended
Dec. 31, 2025
Financial Assets/Liabilities at Fair Value through Profit or Loss [Abstract]  
Financial Assets/Liabilities at Fair Value through Profit or Loss 12 — Financial assets/liabilities at fair value through profit or
loss
in € m.
Dec 31, 2025
Dec 31, 2024
Financial assets classified as held for trading:
Trading assets:
Trading securities
130,581
124,857
Other trading assets1
23,230
14,914
Total trading assets
153,811
139,772
Positive market values from derivative financial instruments
241,654
291,800
Total financial assets classified as held for trading
395,465
431,571
Non-trading financial assets mandatory at fair value through profit or loss:
Securities purchased under resale agreements
95,802
88,736
Securities borrowed
16,513
15,913
Loans
3,370
1,954
Other financial assets mandatory at fair value through profit or loss
8,810
7,721
Total Non-trading financial assets mandatory at fair value through profit or loss
124,495
114,324
Financial assets designated at fair value through profit or loss:
Loans
—
—
Other financial assets designated at fair value through profit or loss
—
—
Total financial assets designated at fair value through profit or loss
—
—
Total financial assets at fair value through profit or loss
519,960
545,895
1Includes traded loans of € 12.8 billion and € 11.4 billion at December 31, 2025 and 2024 respectively
in € m.
Dec 31, 2025
Dec 31, 2024
Financial liabilities classified as held for trading:
Trading liabilities:
Trading securities
41,142
41,864
Other trading liabilities
1,738
1,635
Total trading liabilities
42,879
43,498
Negative market values from derivative financial instruments
225,827
276,410
Total financial liabilities classified as held for trading
268,706
319,908
Financial liabilities designated at fair value through profit or loss:
Securities sold under repurchase agreements
86,177
69,121
Loan commitments
2
6
Long-term debt
27,299
22,203
Other financial liabilities designated at fair value through profit or loss
1,577
717
Total financial liabilities designated at fair value through profit or loss
115,055
92,047
Investment contract liabilities
469
454
Total financial liabilities at fair value through profit or loss
384,230
412,409
Financial liabilities designated at fair value through profit or loss
Changes in fair value of financial liabilities attributable to movements in the Group’s credit risk1
in € m.
Dec 31, 2025
Dec 31, 2024
Presented in Other comprehensive Income
Cumulative change in the fair value
(272)
(157)
Presented in Statement of income
Annual change in the fair value reflected in the Statement of Income
—
—
Cumulative change in the fair value
—
—
1The fair value of a financial liability incorporates the credit risk of that financial liability. Changes in the fair value of financial liabilities issued by consolidated structured
entities have been excluded as this is not related to the Group’s credit risk but to that of the legally isolated structured entity, which is dependent on the collateral it
holds
Amounts transferred on derecognition of liabilities designated at fair value through profit or loss1
in € m.
Dec 31, 2025
Dec 31, 2024
Amount presented in other comprehensive income transferred into retained earnings
(14)
(8)
1 When a financial liability designated at fair value through profit or loss is derecognized/early extinguished, cumulative gains or losses in other comprehensive income
attributable to the Group's own credit risk is transferred into retained earnings
The excess of the contractual amount repayable at maturity over the carrying value of financial liabilities1
in € m.
Dec 31, 2025
Dec 31, 2024
Including undrawn loan commitments²
355
1,085
Excluding undrawn loan commitments
106
497
1Assuming the liability is extinguished at the earliest contractual maturity that the Group can be required to repay. When the amount payable is not fixed, it is determined
by reference to conditions existing at the reporting date
2The contractual cash flows at maturity for undrawn loan commitments assume full drawdown of the facility