Group	2012 €'000	2011 €'000
Exchequer note investments	-	2,300,000
Balances with the Central Bank of Ireland	2,142,922	974,566
Balances with other banks	62,266	54,462
Term deposits	30,634	17,958
Total cash and cash equivalents	2,235,822	3,346,986
Cash placed as collateral with the NTMA	1,150,000	-
Total cash, cash equivalents and collateral	3,385,822	3,346,986

Agency	2012 €'000	2011 €'000
Balances with the Central Bank of Ireland	1,268	1,623
Total cash and cash equivalents	1,268	1,623

Balances with other banks comprise balances held with Citibank and AIB. Exchequer notes are short term interest bearing notes, with maturities less than 30 days, which are held with the NTMA.

In accordance with a new agreement entered into between NAMA and the NTMA in 2012, NAMA is now required to post cash collateral with the NTMA under a collateral posting agreement (CPA). The NTMA is the counterparty to all NAMA derivatives (other than those acquired from borrowers). The NTMA require cash to be placed with it as collateral to reduce the exposure it has to NAMA with regard to its derivative positions. At 31 December 2012, NAMA's derivative exposure was €1.2 billion as set out in Note 18.

In 2011 an amount of $135,515 was placed on deposit in a segregated account. This amount will be held in a segregated account until a legal claim pending in relation to a debtor is settled. On settlement the amount will be refunded to NAMA or retained by a third party, pending the outcome of the legal claim. This amount has not been reported as part of the Group's cash balance and was still held in escrow at the reporting date.

At the reporting date there is an amount of €14.6m held in an escrow account in the Group's name. This amount is in respect of the outcome of due diligence procedures on AIB Tranche 9 loans. On completion of due diligence by AIB part or the entire amount will be either transferred to the Group's bank account or retained by AIB. During the year, an amount of €0.5m was paid to NAMA from this account. The balance on this account is assessed on a six monthly basis. The next review date is 1 May 2013.