On October 15 2008, the EU adopted the IAS 39 amendments issued by the IASB.
This means that bonds and other assets in the trading portfolio may in rare
circumstances be reclassified out of the trading portfolio. Jyske Bank has
decided to apply the reclassification option to some of the assets in our
trading portfolio.
With effect from 1 July 2008, the Jyske Bank Group has reclassified trading
portfolio assets worth approximately DKK 5bn, which are now recognised at
amortised cost instead of at fair value.
The reclassified bonds correspond to about 25% of the total trading portfolio.
The reclassification will affect the Jyske Bank Group's consolidated accounts
for the fourth quarter of 2008: the return on our own securities portfolio will
increase by DKK 200m.
