v3.25.4
Offsetting Financial Assets and Financial Liabilities
 12 Months Ended
Dec. 31, 2025
Offsetting Financial Assets and Financial Liabilities [Abstract]  
Offsetting Financial Assets and Financial Liabilities 17 — Offsetting Financial Assets and Financial Liabilities
The Group is eligible to present certain financial assets and financial liabilities on a net basis on the balance sheet
pursuant to criteria described in Note 01 “Material Accounting Policies and Critical Accounting Estimates: Offsetting
Financial Instruments”.
The following tables provide information on the impact of offsetting on the consolidated balance sheet, as well as the
financial impact of netting for instruments subject to an enforceable master netting arrangement or similar agreement as
well as available cash and financial instrument collateral.
Assets
Dec 31, 2025
Amounts not set off on the balance sheet
in € m.
Gross
amounts of
financial
assets
Gross
amounts set
off on the
balance
sheet
Net
amounts of
financial
assets
presented
on the
balance
sheet
Impact of
Master
Netting
Agreements
Cash
collateral
Financial
instrument
collateral¹
Net amount
Central bank funds sold and securities purchased
under resale agreements (enforceable)
60,976
(24,458)
36,518
—
—
(36,518)
—
Central bank funds sold and securities purchased
under resale agreements (non-enforceable)
991
—
991
—
—
(858)
133
Securities borrowed (enforceable)
6
—
6
—
—
(6)
—
Securities borrowed (non-enforceable)
—
—
—
—
—
—
—
Financial assets at fair value through profit or loss
(enforceable)
605,232
(261,170)
344,062
(182,554)
(34,862)
(118,239)
8,407
Of which: Positive market values from derivative
financial instruments (enforceable)
246,257
(13,232)
233,025
(180,780)
(34,833)
(9,221)
8,191
Financial assets at fair value through profit or loss
(non-enforceable)
175,898
—
175,898
—
(1,112)
(4,223)
170,563
Of which: Positive market values from derivative
financial instruments (non-enforceable)
8,629
—
8,629
—
(991)
(659)
6,979
Total financial assets at fair value through profit or
loss2
781,130
(261,170)
519,960
(182,554)
(35,974)
(122,462)
178,970
Loans at amortized cost
478,214
—
478,214
—
(10,924)
(77,530)
389,761
Other assets
172,128
(4,968)
167,159
(25,790)
(75)
(33)
141,262
Of which: Positive market values from
derivatives qualifying for hedge accounting
(enforceable)
830
(35)
795
(472)
(73)
(33)
217
Remaining assets subject to netting
1,128
—
1,128
—
—
—
1,128
Remaining assets not subject to netting
235,896
—
235,896
—
(293)
(1,908)
233,696
Total assets
1,730,469
(290,597)
1,439,873
(208,344)
(47,265)
(239,315)
944,950
1Excludes real estate and other non-financial instrument collateral.
2In accordance with Note 12 ‘Financial assets/liabilities at fair value through profit or loss’ the position is predominately comprised of trading securities (asset), trading
securities (liability), securities purchased and sold under resale agreements accounted at fair value through profit or loss as well as positive and negative market values
from derivative financial instruments
Liabilities
Dec 31, 2025
Amounts not set off on the balance sheet
in € m.
Gross
amounts of
financial
liabilities
Gross
amounts set
off on the
balance
sheet
Net
amounts of
financial
liabilities
presented
on the
balance
sheet
Impact of
Master
Netting
Agreements
Cash
collateral
Financial
instrument
collateral
Net amount
Deposits
694,580
—
694,580
—
—
—
694,580
Central bank funds purchased and securities sold
under repurchase agreements (enforceable)
26,665
(24,458)
2,207
—
—
(2,205)
2
Central bank funds purchased and securities sold
under repurchase agreements (non-enforceable)
1,970
—
1,970
—
—
(5)
1,965
Securities loaned (enforceable)
2
—
2
—
—
(2)
—
Securities loaned (non-enforceable)
—
—
—
—
—
—
—
Financial liabilities at fair value through profit or
loss (enforceable)
608,837
(261,191)
347,646
(182,953)
(24,052)
(85,185)
55,456
Of which: Negative market values from
derivative financial instruments (enforceable)
233,209
(13,734)
219,474
(181,109)
(24,052)
(1,737)
12,576
Financial liabilities at fair value through profit or
loss (non-enforceable)
36,584
—
36,584
—
(502)
(969)
35,113
Of which: Negative market values from
derivative financial instruments (non-
enforceable)
6,352
—
6,352
—
(502)
(85)
5,766
Total financial liabilities at fair value through profit
or loss1
645,421
(261,191)
384,230
(182,953)
(24,554)
(86,154)
90,568
Other liabilities
142,609
(4,948)
137,662
(36,132)
(13)
(2)
101,516
Of which: Negative market values from
derivatives qualifying for hedge accounting
(enforceable)
187
(16)
172
(142)
(13)
(2)
15
Remaining liabilities not subject to netting
136,937
—
136,937
—
—
—
136,937
Total liabilities
1,648,184
(290,597)
1,357,588
(219,085)
(24,567)
(88,368)
1,025,568
1 In accordance with Note 12 ‘Financial assets/liabilities at fair value through profit or loss’ the position is predominately comprised of trading securities (asset), trading
securities (liability), securities purchased and sold under resale agreements accounted at fair value through profit or loss as well as positive and negative market values
from derivative financial instruments
Assets
Dec 31, 2024
Amounts not set off on the balance sheet
in € m.
Gross
amounts of
financial
assets
Gross
amounts set
off on the
balance
sheet
Net
amounts of
financial
assets
presented
on the
balance
sheet
Impact of
Master
Netting
Agreements
Cash
collateral
Financial
instrument
collateral¹
Net amount
Central bank funds sold and securities purchased
under resale agreements (enforceable)
54,483
(14,429)
40,053
—
—
(39,831)
223
Central bank funds sold and securities purchased
under resale agreements (non-enforceable)
749
—
749
—
—
(749)
—
Securities borrowed (enforceable)
32
—
32
—
—
(32)
—
Securities borrowed (non-enforceable)
11
—
11
—
—
—
11
Financial assets at fair value through profit or loss
(enforceable)
615,693
(232,705)
382,988
(231,243)
(33,729)
(108,134)
9,882
Of which: Positive market values from derivative
financial instruments (enforceable)
298,563
(16,164)
282,399
(229,605)
(33,689)
(9,392)
9,713
Financial assets at fair value through profit or
loss (non-enforceable)
162,908
—
162,908
—
(1,303)
(6,993)
154,611
Of which: Positive market values from derivative
financial instruments (non-enforceable)
9,400
—
9,400
—
(1,188)
(1,344)
6,868
Total financial assets at fair value through profit or
loss2
778,601
(232,705)
545,895
(231,243)
(35,032)
(115,127)
164,494
Loans at amortized cost
483,897
—
483,897
—
(10,836)
(72,983)
400,078
Other assets
105,704
(4,526)
101,178
(24,750)
(52)
(30)
76,346
Of which: Positive market values from
derivatives qualifying for hedge accounting
(enforceable)
362
(25)
337
(210)
(52)
(30)
45
Remaining assets subject to netting
2,786
—
2,786
—
—
—
2,786
Remaining assets not subject to netting
216,430
—
216,430
—
(623)
(4,438)
211,369
Total assets
1,642,694
(251,661)
1,391,033
(255,993)
(46,543)
(233,190)
855,307
1 Excludes real estate and other non-financial instrument collateral.
2In accordance with Note 12 ‘Financial assets/liabilities at fair value through profit or loss’ the position is predominately comprised of trading securities (asset), trading
securities (liability), securities purchased and sold under resale agreements accounted at fair value through profit or loss as well as positive and negative market values
from derivative financial instruments
Liabilities
Dec 31, 2024
Amounts not set off on the balance sheet
in € m.
Gross
amounts of
financial
liabilities
Gross
amounts set
off on the
balance
sheet
Net
amounts of
financial
liabilities
presented
on the
balance
sheet
Impact of
Master
Netting
Agreements
Cash
collateral
Financial
instrument
collateral
Net amount
Deposits
667,700
—
667,700
—
—
—
667,700
Central bank funds purchased and securities sold
under repurchase agreements (enforceable)
16,819
(14,429)
2,390
—
—
(2,390)
—
Central bank funds purchased and securities sold
under repurchase agreements (non-enforceable)
1,350
—
1,350
—
—
(123)
1,227
Securities loaned (enforceable)
1
—
1
—
—
(1)
—
Securities loaned (non-enforceable)
1
—
1
—
—
(1)
—
Financial liabilities at fair value through profit or
loss (enforceable)
609,711
(232,683)
377,028
(230,472)
(23,677)
(66,495)
56,383
Of which: Negative market values from
derivative financial instruments (enforceable)
284,351
(16,613)
267,738
(228,718)
(23,677)
(2,458)
12,884
Financial liabilities at fair value through profit or
loss (non-enforceable)
35,382
—
35,382
—
(607)
(3,332)
31,442
Of which: Negative market values from
derivative financial instruments (non-
enforceable)
8,672
—
8,672
—
(607)
(142)
7,923
Total financial liabilities at fair value through profit
or loss2
645,092
(232,683)
412,409
(230,472)
(24,285)
(69,828)
87,825
Other liabilities
100,165
(4,549)
95,616
(37,086)
(91)
(101)
58,338
Of which: Negative market values from
derivatives qualifying for hedge accounting
(enforceable)
1,699
(24)
1,676
(1,098)
(91)
(101)
386
Remaining liabilities not subject to netting
129,700
—
129,700
—
(6)
—
129,694
Total liabilities
1,560,829
(251,661)
1,309,168
(267,559)
(24,382)
(72,444)
944,784
1In accordance with Note 12 ‘Financial assets/liabilities at fair value through profit or loss’ the position is predominately comprised of trading securities (asset), trading
securities (liability), securities purchased and sold under resale agreements accounted at fair value through profit or loss as well as positive and negative market values
from derivative financial instruments.
 
The column ‘Gross amounts set off on the balance sheet’ discloses the amounts offset in accordance with all the criteria
described in Note 01 “Material Accounting Policies and Critical Accounting Estimates: Offsetting Financial Instruments”.
The column ‘Impact of Master Netting Agreements’ discloses the amounts that are subject to master netting agreements
but were not offset because they did not meet the net settlement/simultaneous settlement criteria; or because the
rights of set off are conditional upon the default of the counterparty only. The amounts presented for other assets and
other liabilities include cash margin receivables and payables respectively.
The columns ‘Cash collateral’ and ‘Financial instrument collateral’ disclose the cash and financial instrument collateral
amounts received or pledged in relation to the total amounts of assets and liabilities, including those that were not
offset.
Non-enforceable master netting agreements or similar agreements refer to contracts executed in jurisdictions where the
rights of set off may not be upheld under the local bankruptcy laws.
The cash collateral received against the positive market values of derivatives and the cash collateral pledged towards the
negative mark-to-market values of derivatives are booked within the ‘Other liabilities’ and ‘Other assets’ balances
respectively.
The Cash and Financial instrument collateral amounts disclosed reflect their fair values. The rights of set off relating to
the cash and financial instrument collateral are conditional upon the default of the counterparty.