129 ANNUAL REPORT 2010 Credit risk concentrations – debt  securities and money market  investments  Americas The  Netherlands United  Kingdom New  Markets Total 2009  1 Of which past  due and /  or impaired  assets  ABSs – Collateralized Bond Obligations  (CBOs) 595 655 – – 1,250 28 ABSs – Housing related 1,341 – 219 60 1,620 85 ABSs – Credit cards 2,615 374 – – 2,989 – ABSs – Other 2,075 237 793 – 3,105 15 Residential mortgage backed securities 3,581 1,641 15 2 5,239 236 Commercial mortgage backed securities 5,514 22 314 125 5,975 9 Financial - Banking 5,679 3,668 1,491 411 11,871 93 Financial - Other 12,078 455 1,077 103 13,713 93 Industrial 24,324 2,077 2,161 184 28,746 117 Utility 5,259 387 1,100 74 6,820 9 Sovereign exposure 6,515 10,868 682 1,090 20,203 4 AT DECEMBER 31 69,576 20,384 7,852 2,049 101,531 689 1  Includes investments of Holding and other activities. Credit risk concentrations –  mortgages  Americas The  Netherlands United  Kingdom New  Markets Total 2009  1 Of which past  due and /  or impaired  assets  Agricultural 498 25 – – 523 136 Apartment 1,731 – – – 1,731 55 Industrial 1,789 – – – 1,789 89 Offi ce 3,728 48 – – 3,776 93 Retail 1,756 19 – – 1,775 34 Other commercial 402 33 – – 435 6 Residential 65 11,157 – 274 11,496 371 AT DECEMBER 31 9,969 11,282 – 274 21,525 784 Includes investments of Holding and other activities. The fair value of AEGON Americas commercial mortgage  portfolio as per December 31, 2010 amounts to EUR 9,317 million  (2009: EUR 9,338 million). The loan to value (LTV) amounts to  about 66% (2009: 65%). 2.68% (2009: 2.48%) of the portfolio  is in delinquency (defined as 60 days in arrears). In 2010 we  recognized impairments of EUR 67 million on this portfolio.  AEGON foreclosed upon, or recovered EUR 169 million of real  state. The impairments associated with these loans amounted  to EUR 13 million. The fair value of AEGON The Netherlands mortgage portfolio  as per December 31, 2010 amounts to EUR 14,668 million  (2009: EUR 11,476 million). The LTV amounts to about 93%  Included in the debt securities and money market  investments are EUR 139 million of assets that have been  classified as held-to-maturity and are therefore carried at  amortized cost (2009: EUR 70 million). Of the EUR 139 million  assets held-to-maturity, EUR 29 million are government bonds  (2009: EUR 11 million) and EUR 110 million is corporate exposure  (2009: EUR 59 million). (2009: 95%). A significant part of the portfolio (52%; 2009:  51%) is government guaranteed. 0.8% (2009: 1.0%) of the  portfolio is in delinquency (defined as 60 days in arrears).  There were no significant impairments during 2009 and 2010.  Historical defaults of the portfolio have been between 2 and 9  basis points per year. SHARPENING OUR FOCUS