CCD commitments are measured based on the amortized cost using EIM which gives rise to accretion expense which amounted to $683,000 (2009 – $867,000). EIM rates used to determine the value of CCD commitments range from 8.0% to 14.3%. The discounted CCD commitments are as follows: 2011 – $2,182,000; 2012 – $2,420,000; 2013 – $1,626,000; 2014 – $392,000; 2015 – $186,000 and thereafter $89,000. The undiscounted amount payable for CCD commitments is $7,941,000 of which $2,743,000 is current (2009 – $10,509,000; $2,895,000 current).

The Company has issued letters of credit totaling $839,000 in support of certain of these liabilities