Source: https://annualreport.deutsche-bank.com/2013/ar/management-report/risk-report/regulatory-capital/crr-crd-4-solvency-measures.html
Timestamp: 2019-08-18 20:27:18
Document Index: 692460978

Matched Legal Cases: ['Art. 33', 'Art. 33', 'Art. 92', 'Art. 484', 'Art. 38', 'Art. 38', 'Art. 467', 'Art. 484', 'Art. 472', 'Art. 475', 'Art. 484', 'Art. 472', 'Art. 475', 'Art. 92', 'Art. 38']

Deutsche Bank Annual Report 2013 - CRR/CRD 4 Solvency Measures
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Pro forma CRR/CRD 4 Solvency Measures
While our regulatory risk-weighted assets, capital and ratios thereof are set forth throughout this document under the Basel 2.5 rules, we also set forth in several places measures of our regulatory risk-weighted assets, capital and ratios thereof additionally calculated under a pro forma application of the CRR/CRD 4 rules. Our interpretation is formally incorporated in policies governed by the same structures and committees as the policies that we use to calculate risk-weighted assets and Common Equity Tier 1 capital under Basel 2.5 rules. Because the CRR/CRD 4 rules were not yet in force as of December 31, 2013, their measures for this reporting date are non-GAAP financial measures and unaudited. We believe that these pro forma CRR/CRD 4 calculations provide useful information to investors as they reflect our progress against future regulatory capital standards.
The “fully loaded” CRR/CRD 4 metrics, which we implemented on a pro forma basis, do not take into account the phase-in and phase-out of provisions (i.e. phase-out of instruments no longer qualifying under the new rules and phase-in of the new rules on regulatory adjustments) which are allowed to ease the transition for banks to the “fully loaded” capital rules. Common Equity Tier 1 capital before regulatory adjustments and total regulatory adjustments to Common Equity Tier 1 (CET 1) capital for December 31, 2012, are adjusted as the deconsolidation adjustment for retained earnings amounting to € 727 million was directly deducted from CET 1 capital before regulatory adjustments.
Overview of Regulatory Capital, RWA and Capital Ratios according to Basel 2.5
Included € 20 million silent participation as of December 31, 2013 and December 31, 2012.
Tier 1 capital (T1 = CET 1 + AT1)1
Overview of Regulatory Capital, RWA and Capital Ratios according to pro forma CRR/CRD 4 (unaudited)
350,143
Transitional template for Regulatory Capital, RWA and Capital Ratios according to pro forma CRR/CRD 4 (unaudited) and Basel 2.5 (audited)
Pro forma CRR/CRD 4 fully-loaded (unaudited)
Basel 2.5 (audited)
EBA list as referred to in Article 26 (3) of CRR is not yet published.
Awaiting EBA final standard. Therefore not included in pro forma CRR/CRD 4 calculation.
Gains and losses on liabilities of the institution that are valued at fair value that result from changes in the own credit standing of the institution acc. Art. 33 (1) (b) CRR as well as all fair value gains and losses arising from the institution’s own credit risk related to derivative liabilities acc Art. 33 (1) (c) CRR.
Excludes holdings that are already considered in the accounting base of Common Equity. Basel 2.5: amounts in compliance with Basel 2.5-regulations (i.a. only direct holdings).
Based on our current interpretation no deduction amount expected. Basel 2.5: amounts in compliance with Basel 2.5-regulations (i.a. only direct holdings and Basel 2.5 threshold).
Basel 2.5: amounts in compliance with Basel 2.5-regulations (i.a. only direct holdings and Basel 2.5 threshold).
Basel 2.5: amounts in compliance with Basel 2.5-regulations (i.a. prudential filter based on Consolidated Financial Statements Reconciliation Regulation “Konzer-nabschlussüberleitungsverordnung”).
Prudential filter for fund for home loans and savings protection (“Fonds zur bauspartechnischen Absicherung”) and for capital effects resulting from non financial at-equity investments.
Basel 2.5: amounts in compliance with Basel 2.5-regulations (i.a. only direct holdings).
Basel 2.5: included € 20 million silent participation as of December 31, 2013 and December 31, 2012.
Amortisation is taken into account.
Art. 92 (1) (a) CRR requires a minimum Common Equity Tier 1 capital ratio of 4,5 % excluding additional capital buffer.
Countercyclical buffer rates not yet available.
G-SII buffer as published in November 2013 by Financial Stability Board.
Calculated as the CET 1 capital less any CET 1 items used to meet Tier 1 and Total capital requirements.
Common Equity Tier 1 (CET 1) capital: instruments and reserves
Capital instruments and the related share premium accounts
thereof: Instrument type 11
Amount of qualifying items referred to in Art. 484 (3) CRR and the related share premium accounts subject to phase out from CET 1
Public sector capital injections grandfathered until 1 January 2018
Noncontrolling Interests (amount allowed in consolidated CET 1)
Independently reviewed interim profits net of any foreseeable charge or dividend
Common Equity Tier 1 capital: regulatory adjustments
Additional value adjustments (negative amount)2
Intangible assets (net of related tax liabilities) (negative amount)
Deferred tax assets that rely on future profitability excluding those arising from temporary differences (net of related tax liabilities where the conditions in Art. 38 (3) CRR are met) (negative amount)
Negative amounts resulting from the calculation of expected loss amounts
Any increase in equity that results from securitized assets (negative amount)
Gains or losses on liabilities designated at fair value resulting from changes in own credit standing3
Defined benefit pension fund assets (negative amount)
Direct, indirect and synthetic holdings by an institution of own CET 1 instruments (negative amount)4
Holdings of the CET 1 instruments of financial sector entities where those entities have reciprocal crossholdings with the institution designed to inflate artificially the own funds of the institution (negative amount)
Direct, indirect and synthetic holdings by the institution of the CET 1 instruments of financial sector entities where the institution does not have a significant investment in those entities (amount above the 10 % threshold and net of eligible short positions) (negative amount)5
Direct, indirect and synthetic holdings by the institution of the CET 1 instruments of financial sector entities where the institution has a significant investment in those entities (amount above 10 % threshold and net of eligible short positions) (negative amount)6
Exposure amount of the following items which qualify for a Risk Weight of 1250 %, where the institution opts for the deduction alternative
thereof: qualifying holdings outside the financial sector (negative amount)
thereof: securitization positions (negative amount)
thereof: free deliveries (negative amount)
Deferred tax assets arising from temporary differences (amount above 10 % threshold, net of related tax liabilities where the conditions in Art. 38 (3) CRR are met) (negative amount)
Amount exceeding the 15 % threshold (negative amount)
thereof: direct, indirect and synthetic holdings by the institution of the CET 1 instruments of financial sector entities where the institution has a significant investment in those entities
thereof: deferred tax assets arising from temporary differences
Losses for the current financial year (negative amount)
Regulatory adjustments applied to CET 1 capital in respect of amounts subject to pre-CRR treatment:
Regulatory adjustments relating to unrealized gains and losses pursuant to Art. 467 and 468 CRR7
Amount to be deducted from or added to CET 1 capital with regard to additional filters and deductions required pre CRR8
Qualifying AT1 deductions that exceed the AT1 capital of the institution (negative amount)
Additional Tier 1 (AT1) capital: instruments
thereof: classified as equity under applicable accounting standards
thereof: classified as liabilities under applicable accounting standards
Amount of qualifying items referred to in Art. 484 (4) CRR and the related share premium accounts subject to phase out from AT1
Tier 1 capital included in consolidated AT1 capital issued by subsidiaries and held by third parties
thereof: instruments issued by subsidiaries subject to phase out
Additional Tier 1 (AT1) capital: regulatory adjustments
Direct and indirect holdings by an institution of own AT1 instruments (negative amount)9
Holdings of the AT1 instruments of financial sector entities where those entities have reciprocal cross holdings with the institution designed to inflate artificially the own funds of the institution (negative amount)
Direct, indirect and synthetic holdings of the AT1 instruments of financial sector entities where the institution does not have a significant investment in those entities (amount above the 10 % threshold and net of eligible short positions) (negative amount)5
Direct, indirect and synthetic holdings by the institution of the AT1 instruments of financial sector entities where the institution has a significant investment in those entities (amount above the 10 % threshold net of eligible short positions) (negative amount)6
Regulatory adjustments applied to AT1 capital in respect of amounts subject to pre-CRR treatment and transitional treatments subject to phase out as prescribed in CRR (i.e., residual amounts)
Residual amounts deducted from AT1 capital with regard to deduction from CET 1 capital during the transitional period pursuant to Art. 472 CRR
thereof: intangible assets
thereof: shortfall of provisions to expected losses
thereof: significant investments in the capital of other financial sector entities
Residual amounts deducted from AT1 capital with regard to deduction from Tier 2 (T2) capital during the transitional period pursuant to Art. 475 CRR
Amount to be deducted from or added to AT1 capital with regard to additional filters and deductions required pre CRR
T2 deductions that exceed the T2 capital of the institution (negative amount)
Tier 1 capital (T1 = CET 1 + AT1)10
Capital instruments and the related share premium accounts11
Amount of qualifying items referred to in Art. 484 (5) CRR and the related share premium accounts subject to phase out from T2
Qualifying own funds instruments included in consolidated T2 capital issued by subsidiaries and held by third parties
Tier 2 (T2) capital: regulatory adjustments
Direct, indirect and synthetic holdings by an institution of own T2 instruments and subordinated loans (negative amount)9
Holdings of the T2 instruments and subordinated loans of financial sector entities where those entities have reciprocal cross holdings with the institution designed to inflate artificially the own funds of the institution (negative amount)
Direct, indirect and synthetic holdings of the T2 instruments and subordinated loans of financial sector entities where the institution does not have a significant investment in those entities (amount above 10 % threshold and net of eligible short positions) (negative amount)5
thereof: new holdings not subject to transitional arrangements
thereof: holdings existing before 1 January 2013 and subject to transitional arrangements
Direct, indirect and synthetic holdings by the institution of the T2 instruments and subordinated loans of financial sector entities where the institution has a significant investment in those entities (net of eligible short positions) (negative amount)6
Regulatory adjustments applied to Tier 2 in respect of amounts subject to pre-CRR treatment and transitional treatments subject to phase out as prescribed in CRR (i.e., residual amounts)
Residual amounts deducted from Tier 2 capital with regard to deduction from Common Equity Tier 1 capital during the transitional period pursuant to Art. 472 CRR
Residual amounts deducted from Tier 2 capital with regard to deduction from Additional Tier 1 capital during the transitional period pursuant to Art. 475 CRR
thereof: reciprocal cross holdings in AT1 instruments
thereof: direct holdings of non significant investments in the capital of other financial sector entities
Amount to be deducted from or added to Additional Tier 2 capital with regard to additional filters and deductions required pre CRR
Risk weighted assets in respect of amounts subject to pre-CRR treatment and transitional treatments subject to phase out as prescribed in CRR (i.e., residual amounts)
thereof: items not deducted from CET 1 (CRR residual amounts)
thereof: items not deducted from AT1 items (CRR residual amounts)
Items not deducted from T2 items (CRR residual amounts)
thereof: indirect and synthetic holdings of own T2 instruments
thereof: indirect and synthetic holdings of non significant investments in the capital of other financial sector entities
thereof: indirect and synthetic holdings of significant investments in the capital of other financial sector entities
thereof: Credit Risk
thereof: Market Risk
thereof: Operational Risk
Institution specific buffer requirement (CET 1 requirement in accordance with Art. 92 (1) (a) CRR plus capital conservation and countercyclical buffer requirements, plus systemic risk buffer, plus the systemically important institution buffer (G-SII or O-SII buffer), expressed as a percentage of risk-weighted assets)12
thereof: capital conservation buffer requirement
thereof: countercyclical buffer requirement13
thereof: systemic risk buffer requirement
thereof: Global Systemically Important Institution (G-SII) or Other Systemically Important Institution (O-SII) buffer14
Common Equity Tier 1 capital available to meet buffers (as a percentage of risk-weighted assets)15
Direct, indirect and synthetic holdings of the capital of financial sector entities where the institution does not have a significant investment in those entities (amount below 10 % threshold and net of eligible short positions)5
Direct, indirect and synthetic holdings by the institution of the CET 1 instruments of financial sector entities where the institution has a significant investment in those entities (amount below 10 % threshold and net of eligible short positions)6
Deferred tax assets arising from temporary differences (amount below 10 % threshold, net of related tax liability where the conditions in Art. 38 (3) CRR are met)
Applicable caps on the inclusion of provisions in Tier 2 capital
Credit risk adjustments included in T2 in respect of exposures subject to standardized approach (prior to the application of the cap)
Cap on inclusion of credit risk adjustments in T2 under standardized approach
Credit risk adjustments included in T2 in respect of exposures subject to internal ratings-based approach (prior to the application of the cap)
Cap for inclusion of credit risk adjustments in T2 under internal ratings-based approach
Capital instruments subject to phase-out arrangements
Current cap on CET 1 instruments subject to phase out arrangements
Amount excluded from CET 1 due to cap (excess over cap after redemptions and maturities)
Current cap on AT1 instruments subject to phase out arrangements
Amount excluded from AT1 due to cap (excess over cap after redemptions and maturities)
Current cap on T2 instruments subject to phase out arrangements
Amount excluded from T2 due to cap (excess over cap after redemptions and maturities)
The following table details the main changes in our Common Equity Tier 1 capital, Additional Tier 1 and Tier 2 capital from the beginning to the end of the years 2013 and 2012:
Common Equity Tier 1 Capital – opening amount
Common shares, net effect/(+) issued (–) retirement
Thereof: Actuarial gains (losses) rel. to defined benefit plans, net of tax/CTA
Thereof: Net income attributable to Deutsche Bank Shareholders
Common shares in treasury, net effect/(+) sales (–) purchase
Movements in accumulated other comprehensive income
Removal of gains/losses resulting from changes in own credit standing in liabilities designated at fair value (net of tax)
Goodwill and other intangible assets (deduction net of related tax liability)
Securitization positions not included in risk-weighted assets
Other, including regulatory adjustments
Common Equity Tier 1 Capital – closing amount
Additional Tier 1 Capital – opening amount
New Additional Tier 1 eligible capital issues
Additional Tier 1 Capital – closing amount
Tier 2 capital – opening amount
New Tier 2 eligible capital issues
Tier 2 capital – closing amount
The increase of € 577 million in CET 1 capital in the year 2013 was primarily driven by the aggregate gross proceeds of our share issuance in the second quarter which amounted to € 3.0 billion, partly offset by a negative impact of € 1.1 billion from foreign currency translation and from re-measurement effects related to defined benefit plans, net of tax of € 659 million.
Common shares consist of Deutsche Bank AG’s common shares issued in registered form without par value. Under German law, each share represents an equal stake in the subscribed capital. Therefore, as of December 31, 2013, each share had a nominal value of € 2.56, unchanged compared to December 31, 2012, derived by dividing the total amount of share capital by the number of shares. As of December 31, 2013, a total of 1,019,499,640 shares were issued and fully paid, of which we held 171,904 shares, leaving 1,019,327,736 shares outstanding. As of December 31, 2012, a total of 929,499,640 shares were issued and fully paid, of which we held 315,742 shares, leaving 929,183,898 shares outstanding. There are no issued ordinary shares that have not been fully paid. The related share premium is included in additional paid-in capital.
Reconciliation of Consolidated Balance Sheet according to IFRS to regulatory Balance Sheet (unaudited)
Deconsolidation/ Consolidation of entities
Central bank funds sold and securities purchased under resale agreements
Positive market values from derivative financial instruments
Assets for current tax
1,580,758
532,917
Central bank funds purchased and securities sold under repurchase agreements
Negative market values from derivative financial instruments
1,526,019
Common shares, no par value, nominal value of € 2.56
The following two tables present specific disclosures in relation to Pillar 3. Per regulation it is not required to audit Pillar 3 disclosures.
Terms and Conditions of outstanding Additional Tier 1 Capital Instruments (unaudited)
Amount in m.
Termination right of Issuer
Step-up clauses or other early redemption-incentives
DB Capital Trust I
Until March 30, 2009: 3-Month LIBOR plus 1.7 %
From March 30, 2009: 5-Year U.S. Dollar Swap Rate plus 2.7 %
Since March 30, 2009 and on March 30 of each fifth year thereafter with period of 90 days.
yes, see interest payment obligations
DB Capital Trust II
Until April 27, 2029: 5.2 % p.a.
From April 27, 2029: 5-Year Japanese Yen Swap Rate plus 1.62 %
At the earliest April 27, 2029 with period of 90 days.
DB Capital Trust III
Until June 30, 2014: 3-Month LIBOR plus 1.9 %
From June 30, 2014: 5-Year U.S. Dollar Swap Rate plus 2.9 %
At the earliest June 30, 2014 with period of 90 days.
DB Capital Trust IV
Until June 30, 2011: 3-Month LIBOR plus 1.8 %
From June 30, 2011: 5-Year U.S. Dollar Swap Rate plus 2.8 %
Since June 30, 2011: on June 30 of each fifth year thereafter with period of 90 days.
DB Capital Trust V
Until June 30, 2010: 3-Month LIBOR plus 1.8 %
From June 30, 2010: 5-Year U.S. Dollar Swap Rate plus 2.8 %
Since June 30, 2010: on June 30 of each fifth year thereafter with period of 90 days.
DB Capital Funding Trust I
Until June 30, 2009: 7.872 % p.a.
From June 30, 2009: 3-Month LIBOR plus 2.97 %
Since June 30, 2009: every 3 months thereafter with period of 30 days.
DB Capital Funding Trust IV
Until September 19, 2013: 5.33 % p.a.
From September 19, 2013: 3-Month EURIBOR plus 1.99 %
Since September 19, 2013: every 3 months with period of 30 days.
DB Capital Funding Trust V
Since December 2, 2009: every 3 months thereafter with period of 30 days.
DB Capital Funding Trust VI
Until January 28, 2010: 6 % p.a.
From January 28, 2010: Four times the difference between 10-Year- and 2-Year-CMS-Rate, capped at 10 % and floored at 3.5 %
Since January 28, 2010: on January 28 of each year there-after with period of 30 days.
DB Capital Funding Trust VII
Until January 19, 2016: 5.628 % p.a.
From January 19, 2016: 5.628 % p.a. plus 1.00 %
At the earliest January 19, 2016 with period of 30 days.
DB Capital Funding Trust VIII
6.375 % p.a.
Since October 18, 2011: every 3 months thereafter with period of 30 days.
DB Capital Funding Trust IX
6.625 % p.a.
Since August 20, 2012 with period of 30 days.
DB Capital Funding Trust X
7.350 % p.a.
Since December 15, 2012 with period of 30 days.
DB Capital Funding Trust XI
9.5 % p.a.
At the earliest March 31, 2015 with period of 30 days.
DB Contingent Capital Trust II
6.55 % p.a.
At the earliest May 23, 2017 with period of 30 days.
DB Contingent Capital Trust III
At the earliest February 20, 2018 with period of 30 days.
DB Contingent Capital Trust IV
8.0 % p.a.
At the earliest May 15, 2018 with period of 30 days.
DB Contingent Capital Trust V
8.05 % p.a.
At the earliest June 30, 2018 with period of 30 days.
Until December 2, 2005: 6 % p.a.
From December 2, 2005: 10-Year EUR Swap Rate plus 0.025 %, max. 8 %
Since December 2, 2010 at each subsequent coupon date.
Until December 23, 2009: 6 % p.a.
From December 23, 2009: Four times difference between 10-Year and 2-Year CMS-Rate, with min. CMS-Rate 3.75 % and max. CMS-Rate 10 %
Since December 23, 2009 at each subsequent coupon date.
Until June 7, 2008: 7 % p.a.
From June 7, 2008: 10-Year EUR Swap Rate plus 0.125 %, max. 8 %
Since June 7, 2011 at each subsequent coupon date.
Until June 29, 2017: 5.983 % p.a.
From June 29, 2017: 3-Month EURIBOR plus 2.07 %
At the earliest June 29, 2017 at each subsequent coupon date.
Deutsche Postbank AG – silent participation
8.15 % p.a.
Fixed maturity December 31, 2018
Of the € 12.2 billion Additional Tier 1 capital € 9.5 billion have no step-up clauses or other early redemption-incentives. No instrument has the option to be converted into ordinary shares. All Additional Tier 1 capital instruments qualify as Tier 1 capital according to Section 64m (1) KWG. In the event of the initiation of insolvency proceedings or of liquidation, they will not be repaid until all creditors have been satisfied.
Our Tier 2 capital instruments qualify as regulatory capital according to Section 10 (5) and (5a) KWG. Accordingly, all Tier 2 capital instruments have a minimum original maturity of 5 years. The majority of the volume of our Tier 2 instruments, however, has an original maturity of 10 years or more and call rights for the issuer after 5 years or more. In the last two years before the maturity of an instrument only 40 % of the paid-in capital qualifies as regulatory capital.
The several hundred individual Tier 2 capital instruments can be clustered as follows:
Terms and Conditions of the outstanding Tier 2 Capital Instruments (unaudited)
Maturity (year)
Notional in € m.
Type of Tier 2 capital instrument
Early redemption-option
Interest paymentobligations
Cumulative Trust preferred securities
At the earliest on June 27, 2015 and thereafter on each yearly coupon-payment date (June 27) with period of 30 days.
Fixed interest rate during first five periods of interest payments at 7 % p.a., thereafter ten times the difference between 10 year- and 2 year-CMS-Rate, capped at 10 year-CMS and floored at 1.75 %
6,00 % (fix) – 6,26 % (fix)
5,13 % (fix) – 5,65 % (fix)
4,40 % (fix) – 4,72 % (fix)
5,12 % (fix)
5,14 % (fix) – 5,53 % (fix)
5,10 % (fix)
4,53 % (fix) – 4,73 % (fix)
5,50 % (fix)
5,25 % (fix)
4,50 % (fix) – 6,00 % (fix)
500 m.: Early redemption at the issuer's option since 2011 at each coupon-date
1,03 % (var.) – 5,50 % (fix)
4,92 % (fix) – 5,01 % (fix)
5,21 % (fix) – 5,83 % (fix)
5,19 % (fix) – 6,63 % (fix)
5,14 % (fix) – 5,46 % (fix)
4,63 % (fix)
5,60 % (fix) – 5,90 % (fix)
5,15 % (fix) – 5,45 % (fix)
6,50 % (fix)
2,76 % (fix) – 2,84 % (fix)
Bankers Trust Corporation - New York
7,50 % (fix)
4,46 % (fix)
4,80 % (fix)
4,59 % (fix) – 4,63 % (fix)
4,75 % (fix)
Early redemption at the issuer's option since 2009 at each coupon-date
3,59 % (var.)
Early redemption at the issuer's option since 2011 at each coupon-date
1,98 % (var.)
76 m.: Early redemption at the issuer's option since 2009
4,16 % (fix) – 4,68 % (var.)
Early redemption at the issuer's option since 2010 at each coupon-date
0,99 % (var.) – 1,13 % (var.)
1,10 % (var.)
465 m.: Early redemption at the issuer's option since 2012
1,00 % (var.) – 5,82 % (fix)
10 m.: Early redemption at the issuer's option since 2013
5,50 % (fix) – 6,50 % (var.)
238 m.: Early redemption at the issuer's option in 2014
5,00 % (fix) – 6,00 % (fix)
85 m.: Early redemption at the issuer's option in 2015
4,00 % (var.) – 5,00 % (fix)
3,00 % (fix)
1,42 % (var.)
0,90 % (var.)
3,54 % (var.)
1,04 % (var.)
4,30 % (var.)
5,38 % (fix)
Deutsche Bank S.A.E., Barcelona
5,72 % (var.)
Early redemption at the issuer's option since 2013 at each coupon-date
0,23 % (var.)
Deutsche Bank Morgan Grenfell Group PLC
Early redemption at the issuer's option since 1991 at each coupon-date with minimum period of 30 days
0,64 % (var.)
1,69 % (var.) – 5,60 % (fix)
5,69 % (fix)
6,08 % (fix)
4,27 % (fix) – 5,83 % (fix)
5,45 % (fix) – 6,13 % (fix)
5,64 % (fix)
Reconciliation of shareholders’ equity to regulatory capital
Total shareholders’ equity per accounting balance sheet
Thereof: Remeasurement effects related to defined benefit plans, net of tax/CTA
Prudential filters
Own credit spread of liabilities designated at fair value
Regulatory adjustments to accounting basis
Goodwill from at-equity investments
Goodwill relating to non-regulatory consolidation circle
Intangibles relating to non-regulatory consolidation circle
Noncontrolling interests relating to non-regulatory consolidation circle
Securitization positions
Shortfall of provisions to expected loss
Free-deliveries outstanding
Significant investments in the capital of financial sector entities
Other, including consolidation and regulatory adjustments
Deductions from Additional Tier 1 capital
The Deutsche Bank Group (Outlook)
Financial Report page(s) 200-213