profit reserves and future profits arising in a related life assurance undertaking of the insurance undertaking for which the adjusted solvency is calculated, and

the increase in the payer` s share capital, which was increased out of reserves set aside on the basis of the profits or out of profits or out of a revaluation adjustment of the former categories;

The Kingdom of Spain shall contribute, in eight equal instalments falling due on those dates, to the reserves and provisions equivalent to reserves, as well as to the amount still to be appropriated to the reserves and provisions, comprising the balance of the profit and loss account, established at the end of the month of April 2004, as entered on the balance sheet of the Bank, in amounts corresponding to 4,1292% of the reserves and provisions.

Companies in extracting industries should disclose their reserves according to best practices in this regard, as this may be a key element of their value and risk profile.

The new Member States shall contribute, in eight equal instalments falling due on the dates referred to in Article 39, to the reserves and provisions equivalent to reserves, as well as to the amount still to be appropriated to the reserves and provisions, comprising the balance of the profit and loss account, established at the end of the month of April 2004, as entered on the balance sheet of the European Investment Bank, in amounts corresponding to the following percentages of the reserves and provisions:

(a) an amount to be determined by the Governing Council, which may not exceed 20% of the net profit, shall be transferred to the general reserve fund subject to a limit equal to 100% of the capital;

In addition to the payment to be made in accordance with paragraph 1, the national central bank concerned shall contribute to the reserves of the European Central Bank, to those provisions equivalent to reserves, and to the amount still to be appropriated to the reserves and provisions corresponding to the balance of the profit and loss account as at 31 December of the year prior to the abrogation of the derogation.

the payer` s profits or reserves which are, on the basis of participation in the payer, distributed either upon dissolution or upon exclusion or withdrawal of a shareholder, partner or member of the payer;

profit sharing, especially for dividends and other expenditures which, subject to the provisions of this Act, are similar to dividends, reserves from the profits, remuneration to the management board and to the members of the taxable person` s supervisory board which have the nature of profit sharing;

The aggregate amount outstanding at any time of loans and guarantees granted by the Bank shall not exceed 250% of its subscribed capital, reserves, non-allocated provisions and profit and loss account surplus.

The amount of the Bank's disbursed equity participations shall not exceed at any time an amount corresponding to the total of its paid-in subscribed capital, reserves, non-allocated provisions and profit and loss account surplus.

(3) The amount held by a shareholder or partner in the capital of the recipient of the loan shall be determined, for the tax period, as an average on the basis of the balance of the paid-in capital, net profit brought forward, and reserves as at the last day of each month in the tax period.

Profits and losses regarding these reserves shall be for the account of the national central bank depositing the reserves.

The Kingdom of Spain shall contribute, in eight equal instalments falling due on the dates referred above, to the reserves and provisions equivalent to reserves, as well as to the amount still to be appropriated to the reserves and provisions, comprising the balance of the profit and loss account, established at the end of the month preceding accession, as entered on the balance sheet of the Bank, in amounts corresponding to 4,1292% of the reserves and provisions.

In addition to the payment to be made in accordance with Article 49.1, the central bank concerned shall contribute to the reserves of the ECB, to those provisions equivalent to reserves, and to the amount still to be appropriated to the reserves and provisions corresponding to the balance of the profit and loss account as at 31 December of the year prior to the abrogation of the derogation.

The new Member States shall contribute, in eight equal instalments falling due on the dates referred to in Article 3, to the reserves and provisions equivalent to reserves, as well as to the amount still to be appropriated to the reserves and provisions, comprising the balance of the profit and loss account, established at the end of the month preceding accession, as entered on the balance sheet of the Bank, in amounts corresponding to the following percentages of the reserves and provisions fn:

an amount to be determined by the Governing Council, which may not exceed 20% of the net profit, shall be transferred to the general reserve fund subject to a limit equal to 100% of the capital;

minus the change in the actuarial reserves and reserves for with-profits insurance.

determine the reserves and the allocation and distribution of the net profits of the Bank;

they are not to be regarded as income from investment of the insurance technical reserves and they are not to be considerd as changes in the actuarial reserves and reserves for with-profits insurance.

"they are not to be regarded as income from investment of the insurance technical reserves and they are not to be considered as change in the actuarial reserves and reserves for with-profit insurance".

The following analysis is based on the assumption that non-life insurance does not involve actuarial reserves and reserves for with-profits insurance.

However, prudence does not allow the creation of hidden reserves or the deliberate misstatement of items on the balance sheet and in the profit and loss account;

reserves within the meaning of Article 23 of Directive 86/635/EEC and profits and losses brought forward as a result of the application of the final profit or loss.

To arrive at a consistent registration, imputed interest and realized capital (or holding) gains should only be included if they give rise to a variation in insurance-actuarial reserves against outstanding risks and in reserves for with-profit of insurance companies.

the amount by which the gross premiums earned exceed the sum of: claims due, plus supplementary payments to the insured in the form of distributed profits, plus variations in the actuarial reserves against outstanding risks and variations in reserves for with-profits insurance, less imputed interest accruing to insurance policy holders less realized capital gains which are in fact distributed.

The change in the net equity of households is due to changes in life insurance reserves, that is technical provisons against outstanding risks and technical provisions for with-profits insurance (F. 611).

In determining the amount of the net profit of the ECB to be transferred to the general reserve fund pursuant to Article 33.1 of the Statute, the Governing Council should consider that any part of that profit which corresponds to income on euro banknotes in circulation should be distributed to the NCBs in full,

Provisions shall mean amounts set aside before arriving at the profit or loss figure in order to provide for any known or expected liability or risk, the cost of which cannot be accurately determined (see Reserves).

Article 33.1, in conjunction with Article 43.5 of the Statute, provides that following the transfer of up to 20 % of the net profit of the ECB to the general reserve fund, the remaining net profit shall be transferred to the central banks of Member States without a derogation in proportion to their paid-up shares.

Reserves shall mean an amount set aside out of distributable profits, which is not intended to meet any specific liability, contingency or expected diminution in value of assets known to exist at the balance sheet date.

Article 49.2 of the Statute provides that in addition to the payment to be made in accordance with Article 49.1, the central bank of a Member State whose derogation has been abrogated shall contribute to the reserves of the ECB, to those provisions equivalent to reserves, and to the amount still to be appropriated to the reserves and provisions corresponding to the balance of the profit and loss account as at 31 December of the year prior to the abrogation of the derogation.

(c) do not include in any way elements for contingencies, income deriving from reserves, administrative or commercial costs or fiscal or para-fiscal contributions, and take into account neither revenues from investments nor anticipated profits.

The covering of those reserves by equivalent and matching assets, the location of those assets and the application of the rules on profit sharing and on surrender and paid-up values shall be under the supervision of that Member State in accordance with its rules or practice.

Whereas, pending such harmonization, in order, in particular, to maintain or increase productivity in that sector, Member States should be authorized to reserve a percentage of prize money or profits for the safeguard, development and improvement of their breeding activities;

In accordance with Article 49.2 of the Statute, the Bank of Greece shall contribute to the reserves of the ECB, to those provisions equivalent to reserves, and to the amount still to be appropriated to the reserves and provisions corresponding to the balance of the profit and loss account as at 31 December of the financial year ending 31 December 2000. The sum to be contributed by the Bank of Greece shall be determined by multiplying the amount of the reserves, as defined above and as stated in the approved balance sheet of the ECB as at 31 December 2000, by the ratio between the number of shares subscribed by the Bank of Greece and the number of shares already paid up by the other central banks of Member States without a derogation.

Return on capital employed is defined as pre-tax profit after proper adjustment for any preference share dividends, debenture and long-term loan interest paid/received in arriving at that figure as divided by total share capital and reserves together with debentures and other long-term loans.

prepayments of insurance premiums and reserves for outstanding claims, arising from the difference between premiums earned and premiums receivable and between claims payable and claims due, and (b) technical provisions against outstanding risks and technical provisions for with-profits insurance.

for each competition or type of competition Member States shall be authorized to reserve, through the bodies officially approved or recognized for that purpose, a certain percentage of the prize money or profits referred to in paragraph 1 (c) for the safeguard, development and. improvement of breeding.

Where the provision of services is conditional upon authorization by the Member State of provision of services, the amount of the technical reserves, including mathematical reserves, and the rules on profit sharing and on the surrender and paid-up values of the contracts concerned shall be determined under the supervision of that Member State in accordance with the rules it has laid down or, failing such rules, in accordance with established practice in that Member State.

in so far as authorised under national law, profit reserves appearing in the balance sheet where they may be used to cover any losses which may arise and where they have not been made available for distribution to policy holders.

in so far as authorised under national law, profit reserves appearing in the balance sheet where they may be used to cover any losses which may arise and where they have not been made available for distribution to policy holders;

THE PROFIT OR LOSS FOR THE FINANCIAL YEAR AND THE AMOUNT OF THE CAPITAL AND RESERVES ,

All nominal holding gains or losses are excluded when measuring changes in insurance technical reserves… 'they are not to be regarded as income from investment of the insurance technical reserves and they are not to be considered as change in the actuarial reserves and reserves for with-profit insurance`.

in so far as that part of future profits emerging from hidden net reserves referred to in point (c) has not already been taken into account;

claims due, plus supplementary payments to the insured in the form of distributed profits, plus variations in the actuarial reserves against outstanding risks and variations in reserves for with profits insurance, less imputed interest accruing to insurance policy holders less realized capital gains which are in fact distributed.

in the case of an increase in the capital by capitalisation of profits reserves, or provisions, as referred to in Article 4 (2) (a) : on the nominal amount of such increase;

The following transactions may be subject to capital duty: (a) an increase in the capital of a capital company by capitalisation of profits or of permanent or temporary reserves;

per category of financial instruments, the fair value, the changes in value included directly in the profit and loss account as well as changes included in the fair value reserve;

The Member States may lay down rules governing the application of the revaluation reserve, provided that transfers to the profit and loss account from the revaluation reserve may be made only to the extent that the amounts transferred have been entered as charges in the profit and loss account or reflect increases in value which have been actually realized.