UniCredit Group announces that it has revised the calculation of its Regulatory Capital in accordance with Bank of Italy rules.
Also coherently with the clarifications stated in Bank of Italy's Circular nr. 615213, dated June 30, 2009, the revision led to an increase in the Group Core Tier 1 Capital stemming from the split of the translation reserve into the portion related to the goodwill associated with foreign net investments, to be included in Tier 1 Capital, from the portion related to the foreign net investments themselves, that has been instead included in Tier 2 Capital.
The positive impact on Group Core Tier 1 ratio is 31 bps and 15 bps as of March 31, 2009 and December 31, 2008 respectively. Total Capital Ratio remains unchanged as of March 31, 2009 while it increases by 8 bps as of December 31, 2008 (before capital increase) due to the larger computability of subordinated liabilities resulting from the higher level of Tier 1 Capital.
Following the above mentioned changes, UniCredit Group capital ratios are restated as follows:
31 March 2009
Core Tier 1 6.69%; Tier 1 7.50%; Total Capital 11.10% (previously 6.38%, 7.19% and 11.10% respectively)
31 December 2008 (before capital increase)
Core Tier 1 6.02%; Tier 1 6.81%; Total Capital 10.78% (previously 5.87%, 6.66% and 10.70% respectively).
Milan, 16 July 2009
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