Division (i)

Germany will ensure that HRE, within the limits of its abilities, pays remuneration in return for using the winding-up institution FMS-WM. Thus Germany will ensure that the Federal Agency for Financial Market Stabilisation (‘FMSA’) sets the payment obligations pursuant to § 8a(4)(8) of the Financial Market Stabilisation Fund Act (FMStFG) amounting to EUR 1,59 billion (‘payment obligation’) at the full level and that the HRE subsidiaries, to which the payment obligation is addressed, pay the payment obligation in full in accordance with the contractual conditions specified therein, if necessary on a phased basis. The payment will be made to FMS-WM, with the result that the capital of FMS-WM will increase accordingly on payment. In accordance with the payment obligation, those HRE subsidiaries which have transferred assets to the winding-up institution are liable to pay, provided that they have a core capital quota exceeding 15 % and also comply with certain regulatory and other requirements. On the basis of the data collected at 31 March 2011, this would apply solely to subsidiaries of the DEPFA sub-group; depending on future developments, a payment could also be required from subsidiaries of the PBB sub-group.