Division Behavioural commitments

United Kingdom

1. 1Division 1
2. 2Until 31 December 2011, Dexia SA and the subsidiaries over which it exercises exclusive or joint control (‘Dexia’) shall not make any acquisition of more than 5 % of the share capital of other credit institutions or investment firms (within the meaning of Directive 2004/39/EC of 21 April 2004 on markets in financial instruments) or insurance companies, unless authorised to do so by the Commission.
3. 3Division 3
4. 4Division 4
5. 5Dexia shall reduce the proportion of short-term funding in its balance sheet and shall lengthen the average maturity of its long-term funding. Compliance with this commitment shall be assessed overall by means of three quantitative indicators. In this context:
6. 6Until 31 October 2014, Dexia:
7. 7Division 7
8. 8Dexia shall limit the amount of:
9. 9Moreover, without prejudice to the operations which Dexia may be legally required to carry out, or the operations which it may be required to carry out by virtue of contracts concluded before 1 February 2010, relating to hybrid Tier 1 or Tier 2 instruments, Dexia shall refrain until 31 December 2011 from:
10. 10Division 10
11. 11In accordance with the restructuring plan submitted on 17 December 2009, Dexia: