35 Contingent liabilities

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€ million

 

Dec. 31, 2013

 

Dec. 31, 2012

 

 

 

 

 

Liabilities under guarantees

 

847

 

846

Liabilities under warranty contracts

 

155

 

96

Assets pledged as security for third-party liabilities

 

1,468

 

1,487

Other contingent liabilities

 

1,750

 

2,188

 

 

4,220

 

4,617

The trust assets and liabilities of the savings and trust entities belonging to the South American subsidiaries not included in the consolidated balance sheet amount to €601 million (previous year: €511 million).

In the case of liabilities from guarantees (financial guarantee contracts), the Group is required to make specific payments if the debtors fail to meet their financial obligations.

Liabilities arising from the assets pledged as security for third-party liabilities primarily include the pledge of claims under certificates of deposit with Bankhaus Metzler in the amount of €1.5 billion to secure a loan granted to Fleet Investments B.V. by Bankhaus Metzler (please see the information on the basis of consolidation and joint ventures).

The other contingent liabilities are attributable primarily to potential liabilities arising from matters relating to taxes and customs duties, as well as to litigation and proceedings relating to suppliers, dealers, customers and employees.