fwb schreef op 18 februari 2011 13:03:
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De afschrijving is onbeperkt, er kan tot 0 afgeschreven worden.
Hier een aantal fragmenten uit de prospectus:
“Equity Capital”
means, at any time, the aggregate euro amount of all Junior Group Member Instruments(and such successor or other instruments representing capital paid up or contributed to the Rabobank Group by members and others) and retained earnings or similar reserves of the Rabobank Group, at such time calculated by the Issuer on a consolidated basis in accordance with the accounting standards applicable to the Rabobank Group;
“Equity Capital Ratio”
means, at any time, the ratio of the Equity Capital divided by the Risk Weighted Assets, calculated by the Issuer on a consolidated basis;
Deze “Equity Capital Ratio” is dus gerelateerd aan de bekenden TIER 1 ratio.
De laatste gerapporteerde Tier 1 ratio was 14.9% in H1 2010, in 2009 was ie 13.8% en in 2008 12.7%
In de prospectus wordt voor die drie perioden ook de Equity ratio gegeven: 13.%, 12.5% en 11.6%
“Loss Absorption Event”
means the occurrence or, as appropriate, the continuation of one or more of the following events:
(a) as a result of losses incurred by the Rabobank Group as reported in its Relevant Accounts, the Issuer’s Equity Capital Ratio falls or remains below 8 per cent.; or
(b) there has been such a significant reduction in the retained earnings or similar reserves of the Issuer or the Rabobank Group causing a significant deterioration in the financial and regulatory solvency
position of the Issuer and the Rabobank Group that the Issuer determines, or the Dutch Central Bank has notified the Issuer in writing that it believes, that the Issuer’s Equity Capital Ratio will fall below 8 per cent. in the near term;
“NEC”
means in respect of losses incurred by the Rabobank Group for a particular period as reported in any Relevant Accounts for the same period which give rise to a Loss Absorption Event:
(i) if the Equity Capital Ratio prior to the effect of such losses is equal to, or higher than, 8 per cent., the amount (translated into U.S. dollars at the Prevailing Rate) of new Equity Capital that otherwise would have to be raised or generated by the Issuer or the Rabobank Group to cause the relevant Loss Absorption Event to cease to be continuing; or
(ii) if the Equity Capital Ratio prior to the effect of such losses is lower than 8 per cent., the amount (translated where necessary into U.S. dollars at the Prevailing Rate) of such losses as reported in such Relevant Accounts;Wat ik hieruit begrijp is dat als, door een verlies, de Equity Capital Ratio beneden de 8% komt dan zal er zoveel worden afgeschreven tot deze ratio weer op 8% komen, dit kan dus ook alles zijn. Bovendien kan er meerdere malen (jaren) afgeschreven worden en wordt "de schade nooit meer hersteld". Er staat verder geen formule in de prospectus.