16 Other borrowed funds
Other borrowed funds by remaining term
| 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | There after | Total |
|---|---|---|---|---|---|---|---|
| Subordinated loans of group companies | 66 | 542 | 1,052 | 429 | 1,632 | 9,942 | 13,663 |
| Preference shares of group companies | 1,014 | 1,014 | |||||
| Loans contracted | 4,791 | 1,054 | 1,306 | 1,019 | 1,284 | 9,454 | |
| Loans from credit institutions | 1,340 | 2 | 353 | 279 | 168 | 785 | 2,927 |
| 6,197 | 1,598 | 2,711 | 1,727 | 1,800 | 13,025 | 27,058 |
Other borrowed funds by remaining term
| 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | There after | Total |
|---|---|---|---|---|---|---|---|
| Subordinated loans of group companies | 34 | 200 | 366 | 1,227 | 2,276 | 9,488 | 13,591 |
| Preference shares of group companies | 1,132 | 1,132 | |||||
| Loans contracted | 4,927 | 489 | 304 | 1,188 | 1,138 | 854 | 8,900 |
| Loans from credit institutions | 3,749 | 1,103 | 357 | 280 | 164 | 363 | 6,016 |
| 8,710 | 1,792 | 1,027 | 2,695 | 3,578 | 11,837 | 29,639 |
Subordinated loans of group companies relate to capital debentures and private loans which are subordinated to all current and future liabilities of ING Bank N.V. or Postbank N.V.
Preference shares of group companies comprise non-cumulative guaranteed Trust Preference Securities which are issued by wholly owned subsidiaries of ING Groep N.V. These securities have a liquidation preference of a certain amount plus any accrued interest and unpaid dividend. Dividends with regard to these preference securities are presented as an interest expense in the profit and loss account. These trust preference securities have no voting rights.