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Financial statements 2011
5.4 Other liabilities and provisions
EUR
31.12.2011
31.12.2010
Related parties payables
3 497 078
4 255 232
Employee benefit payables
18 736 262
14 195 402
Trade creditors
2 247 184
1 072 783
24 480 524
19 523 417
Employee benefit payables mostly include staff-related costs such as the Bonus, the Optional Supplementary Pension
Scheme (OSPS) and the Severance Grant.
5.5
Share capital
The authorised capital amounts to EUR 3 billion, divided into 3 000 shares with a nominal value of EUR 1 000 000
each. The shares confer rights of ownership of the assets of the Fund as described in Article 8 of its Statutes. Sharehold-
ers are entitled to any distribution of net profits, which is limited by the requirements of the statutory reserve.
The authorised and subscribed share capital of EUR 3 000 000 000 representing 3 000 shares is called and paid
in for an amount of EUR 600 000 000 representing 20 % of the authorised and subscribed share capital.
Further payments of the subscribed but not paid in capital require the approval of the General Meeting of Shareholders.
The subscribed share capital is detailed as follows:
EUR
31.12.2011
31.12.2010
Subscribed and paid in (20%)
600 000 000
600 000 000
Subscribed but not yet called (80%)
2 400 000 000
2 400 000 000
3 000 000 000
3 000 000 000
The capital is subscribed as follows :
Number of shares
31.12.2011
31.12.2010
European Investment Bank
1 858
1 835
European Commission
900
900
Financial Institutions
242
265
3 000
3 000