The present invention relates to polycarbonate compositions comprising: A) an aromatic polycarbonate and/or aromatic polyester carbonate; B) a graft polymer obtainable by co-precipitation of a mixture of at least two graft polymer dispersions B.1 and B.2, wherein the production of the graft polymer component B.1 takes place using at least one redox system as initiator and wherein the production of the graft polymer component B.2 takes place using at least one persulfate compound as initiator; C) optionally a vinyl (co)polymer and/or polyalkylene terephthalate; D) optionally a phosphorus-containing flame retardant; E) at least one phenolic antioxidant; F) optionally a neutral phosphorus- or sulfur-containing co-stabilisers (synergists); and G) optionally additives. Compositions of the present invention are distinguished by an optimum combination of good hydrolysis resistance and a light natural colour. The present invention also relates to the use of polycarbonate compositions for the production of mouldings and mouldings per se as well.