Regulatory Capital

 (unaudited)

Starting December 31, 2011, the calculation of the Group’s capital and capital ratios incorporates the amended capital requirements for trading book and securitization positions following the Capital Requirements Directive 3, also known as “Basel 2.5”, as implemented in the German Banking Act and the Solvency Regulation (“Solvabilitätsverordnung”). The following table presents the risk-weighted assets, regulatory capital and capital adequacy ratios for the Group of companies consolidated for regulatory purposes excluding transitional items pursuant to section 64h (3) of the German Banking Act.

in € m.
(unless stated otherwise)

Mar 31, 2012

Dec 31, 2011

Credit risk

251,775

262,460

Market risk

64,929

68,091

Operational risk

51,718

50,695

Total risk-weighted assets

368,422

381,246

Core Tier 1 capital

37,003

36,313

Additional Tier 1 capital

12,416

12,734

Tier 1 capital

49,419

49,047

Tier 2 capital

5,764

6,179

Tier 3 capital

Total regulatory capital

55,183

55,226

Core Tier 1 capital ratio

10.0 %

9.5 %

Tier 1 capital ratio

13.4 %

12.9 %

Total capital ratio

15.0 %

14.5 %

The following table presents a summary of the components of the Group’s Tier 1 and Tier 2 capital excluding transitional items pursuant to section 64h (3) of the German Banking Act.

in € m.

Mar 31, 2012

Dec 31, 2011

1

Included € 20 million silent participations both as of March 31, 2012 and as of December 31, 2011.

Tier 1 capital:

 

 

Core Tier 1 capital:

 

 

Common shares

2,380

2,380

Additional paid-in capital

23,436

23,695

Retained earnings, common shares in treasury, equity classified as obligation to purchase common shares, foreign currency translation, noncontrolling interests

30,267

29,400

Items to be fully deducted from Tier 1 capital pursuant to Section 10 (2a) KWG (inter alia goodwill and intangible assets)

(14,634)

(14,459)

Items to be partly deducted from Tier 1 capital pursuant to Section 10 (6) and (6a) KWG:

 

 

Deductible investments in banking, financial and insurance entities

(1,326)

(1,332)

Securitization positions not included in risk-weighted assets

(2,651)

(2,863)

Excess of expected losses over risk provisions

(469)

(508)

Items to be partly deducted from Tier 1 capital pursuant to Section 10 (6) and (6a) KWG

(4,446)

(4,703)

Core Tier 1 capital

37,003

36,313

Additional Tier 1 capital:

 

 

Noncumulative trust preferred securities1

12,416

12,734

Additional Tier 1 capital

12,416

12,734

Total Tier 1 capital

49,419

49,047

Tier 2 capital:

 

 

Unrealized gains on listed securities (45 % eligible)

62

70

Profit participation rights

1,150

1,150

Cumulative trust preferred securities

296

294

Qualified subordinated liabilities

8,702

9,368

Items to be partly deducted from Tier 1 capital pursuant to Section 10 (6) and (6a) KWG

(4,446)

(4,703)

Total Tier 2 capital

5,764

6,179

Basel 2 requires the deduction of goodwill from Tier 1 capital. However, for a transitional period, section 64h (3) of the German Banking Act allows the partial inclusion of certain goodwill components in Tier 1 capital. While such goodwill components are not included in the regulatory capital and capital adequacy ratios shown above, the Group makes use of this transition rule in its capital adequacy reporting to the German regulatory authorities.

As of March 31, 2012, the transitional item amounted to € 287 million compared to € 319 million as of December 31, 2011. In the Group’s reporting to the German regulatory authorities, the Tier 1 capital, total regulatory capital and the total risk-weighted assets shown above were increased by this amount. Correspondingly, the Group’s reported Tier 1 and total capital ratios including this item were 13.5 % and 15.0 %, respectively, at the end of the quarter compared to 12.9 % and 14.6 % on December 31, 2011.

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Deutsche Bank Interim Report as of September 30, 2011

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