TIER I CAPITAL AND CAPITAL ADEQUACY
Postbank expects to treat the Class B Preferred Securities or, as the case may be, the Trust Preferred Securities, as
consolidated Tier I regulatory capital for purposes of measuring regulatory capital adequacy, subject to any
volume limitations imposed by the BaFin on hybrid capital instruments (such as the Class B Preferred Securities
or, as the case may be, the Trust Preferred Securities).
Regulatory capital adequacy is monitored by the Postbank Group on the basis of the German Banking Act
(Kreditwesengesetz) and the principles on regulatory banking capital issued thereunder.
The capital ratios under the German Banking Act (Kreditwesengesetz) compare a bank’s regulatory capital with
its counterparty and market risk. Counterparty risk is measured by assets and off-balance sheet exposures
weighted according to broad categories of relative credit risk. The counterparty risk of derivatives is marked to
market daily.
A bank’s regulatory capital is divided into three tiers (Tier I capital, Tier II capital and Tier III capital). Tier I
capital consists primarily of share capital and reserves. Certain hybrid capital instruments (such as the Class B
Preferred Securities) have been accepted by the BaFin as Tier I capital on a consolidated basis. Tier II capital
consists primarily of participatory capital, long-term subordinated liabilities and revaluation reserves for listed
securities. Tier III capital is made up mainly of short-term, subordinated liabilities. The minimum BIS total
capital ratio (Tier I + Tier II + Tier III) is 8% of the risk position, and the minimum BIS core (Tier I) capital ratio
is 4% of the risk position. Under the guidelines set forth by directives of the Bank for International Settlements
(‘‘BIS’’), the amount of subordinated debt that may be included as Tier II capital is limited to 50% of Tier I
capital and total Tier II capital is limited to 100% of Tier I capital.
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