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Report on Operations I Group Results
Capital and Value Management (CONTINUED)
The recent crisis, by which the fi nancial markets were affected, has
given rise to intense ongoing debate on the need to revise, in a more
restrictive sense, the rules for measuring capital and the capital
ratios imposed by Basel 2. In this context, the Basel Committee on
Banking Supervision, implementing the recommendations approved
by the Financial Stability Board and by the G20 leaders at the
September meeting in Pittsburgh, published two advisory documents
on December 17, 2009 on proposals for modifying the prudential
Shareholderís Equity Attributable to the Group
The shareholders’ equity of the Group, including the profi ts of the period (€1,702m), amounted to €59,689m at December 31, 2009,
compared to €54,999m at December 31, 2008.
The statement of changes in shareholders’ equity between the two fiscal years is given in notes to the accounts, Part B) – Section 15 gives
further details on this matter.
The following table shows the main changes that occurred in 2009.
Shareholders equity
Shareholders equity as at December 31, 2008 54,999
Capital increase (net of capitalized costs) 2,799
Forex translation reserve (490)
Change in afs / cash-flow hedge reserve 976
Others 1 (297)
Net profit for the period 1,702
Shareholders equity as at December 31, 2009 59,689
1. Mainly due to options on Minorities.
48
2009 Consolidated Reports and Accounts · UniCredit Group
rules on bank capital and liquidity. Based on the comments received
and the evidence gathered from an impact study recently carried
out, the Basel Committee will make the necessary refi nements to
the proposals and issue a fi nal version by the end of 2010. Before
acceptance on a national level, the new rules will be subjected to the
usual process of legislative review by European institutions.
The Basel Committee intends the new rules to enter into force by the
end of 2012.
(€ million)