Derivatives are included in “Other liabilities”.

(Amounts in EUR million) 2016 2015
Interest rate swaps at floating interest rates 16,407 14,427
Interest rate swaps at fixed interest rates 4,404 3,847
Currency swaps at floating interest rates 17,354 16,929
Currency swaps at fixed rates 718 327
Total, nominal amount 38,884 35,529
Netting of nominal amount per derivative -37,778 -34,329
Derivative payables, net 1,106 1,200
Adjustment to hedge accounting and changes in fair value of non-hedging derivatives 338 281
Derivative instruments 1,444 1,481
Other 11 10
Total 1,456 1,491

Derivatives are carried at fair value in the statement of financial position net per contract. Thus, swap contracts with a positive net fair value are recognised in the statement of financial position under “Other assets”, while swap contracts with a negative net fair value are recognised under “Other liabilities”.

Derivative instruments net exposure after collaterals

(Amounts in EUR million) 2016 2015
Derivative instruments in financial position 1,444 1,481
Netting by counterparty -913 -795
Derivative instruments net per counterparty 532 686
Accrued interest net per counterparty -72 -79
Net exposure before collaterals 460 607
Collateral given -207 -94
Net exposure 252 513

See also Risk Management, Credit Risk, Derivatives.