On October 15, 2008, the EU adopted the IAS 39 amendments issued by the IASB
that allow reclassification of trading portfolio bonds and other assets in rare
circumstances.As result of significant distortion of the pricing of a number of
bonds, the Danske Bank Group has decided to apply the reclassification option
with effect
from October 1, 2008.
Consequently, the Danske Bank Group has reclassified around 30% of the bonds in
its trading portfolio. On September 30, 2008, the total portfolio amounted to
DKr446bn. With effect from October 1, 2008, unrealised value adjustments of the
reclassified bonds are recognised directly in shareholders' equity.
