240 NOTES TO THE FINANCIAL STATEMENTS OF AEGON N.V.  NOTE 13 - 17 NOTE 13  SHORT-TERM BORROWINGS  2010 2009 Amounts owed to credit institutions 17 248 Short-term deposits 719 672 AT DECEMBER 31 736 920 All short-term borrowings have a maturity of less than one year. Loans from and payables to group companies have a maturity  of less than one year. Other includes derivatives with negative  fair values of EUR 313 million (2009: EUR 255 million) and  income tax payable for EUR 146 million (2009: EUR 30 million). NOTE 14 OTHER LIABILITIES AEGON N.V., together with certain of its subsidiaries, is part  of a tax grouping for Dutch corporate income tax purposes.  The members of the fiscal entity are jointly and severally liable  for any taxes payable by the Dutch tax grouping. AEGON received cash collateral related to repurchase  agreements for which an offsetting liability has been set up as  AEGON was obligated to return this amount upon termination  of the repurchase agreements (refer note 5). In 2010 AEGON  terminated the repurchase agreement. AEGON N.V. has entered into a contingent capital agreement in  order to enable its subsidiary Scottish Equitable Plc. to maintain  capital in excess of the minimum capital requirements. The  agreement is secured by GBP 200 million in assets, which have  been allocated to Scottish Equitable. In the event Scottish  Equitable’s solvency capital would fall below the minimum  capital requirement, AEGON N.V. has agreed to replenish  solvency capital up to the amount of assets remaining in the  secured account. The agreement expires when certain  conditions have been triggered. These conditions are: 1)  (partial) disposal of Scottish Equitable or 2) the implementation  of solvency II in the UK. COMMITMENTS AND CONTINGENCIES  AEGON N.V. has entered into a net worth maintenance  agreement with its indirect subsidiary AEGON Financial  Assurance Ireland Limited (AFA), pursuant to which AEGON N.V.  will cause AFA to have a tangible net worth of at least 3% of its  total liabilities under financial guaranty policies which it issues  up to a maximum of EUR 3 billion.  Other than the Executive Board members, there were no  employees employed by AEGON N.V. in either 2010 or 2009. NOTE 15 NUMBER OF EMPLOYEES AEGON N.V. has guaranteed and is severally liable for  the following:  ■ Due and punctual payment of payables due under letter of  credit agreements applied for by AEGON N.V. as co-applicant  with its subsidiary companies Transamerica Corporation,  AEGON USA, LLC and Commonwealth General Corporation.  At December 31, 2010, the letter of credit arrangements  amounted to EUR 3,489 million (2009: EUR 3,492 million);  as at that date no amounts had been drawn or were due  under these facilities. ■ Due and punctual payment of payables by the consolidated  group companies Transamerica Corporation, AEGON Funding  Company LLC, Commonwealth General Corporation and  Transamerica Finance Corp. with respect to bonds, capital  trust pass-through securities and notes issued under  commercial paper programs (EUR 620 million; 2009:  EUR 668 million), as well as payables with respect to certain  derivative transactions of Transamerica Corporation (nominal  amount EUR 2,094 million; 2009: EUR 1,870 million). ■ Due and punctual payment of any amounts owed to third  parties by the consolidated group company AEGON  Derivatives N.V. in connection with derivative transactions.  AEGON Derivatives N.V. only enters into derivative  transactions with counterparties with which ISDA master  netting agreements including collateral support  annex agreements have been agreed; net (credit) exposure  on derivative transactions with these counterparties was  therefore limited as at December 31, 2010.