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EBA CLEARING Shareholders Meeting Report of the Board 26 th May 2010 Contents

1. The Company’s activities in 2009 3

1.1 Introduction 3 1.2 EURO1 / STEP1 Services 4 1.3 STEP2 Services 7 1.4 Operations of the Clearing Systems 9 1.5 Activities of Board Committees 12 1.6 Corporate matters 14 1.7 Financial situation 17

2. The Company’s activities in 2010 20

2.1 EURO1 / STEP1 Services 20 2.2 STEP2 Services 23 2.3 Operations of the Clearing Systems 26 2.4 Other relevant matters of interest 27

Table of Appendices

Appendix 1: Changes in EURO1/STEP1 participation 28 Appendix 2: List of direct participants in EURO1/STEP1 32 Appendix 3: List of STEP2 direct participants 40 Appendix 4: Annual accounts for 2009 55

layout: www. quadratpunkt.de

2 EBA CLEARING Shareholders Meeting 26 th May 2010 // Report of the Board 1. The Company’s activities in 2009

The period under report is 1 st January 2009 to 31 st December 2009.

1.1 Introduction EBA CLEARING and its faced a period of major change throughout 2009. Old distinctions of what was once ”cross-border” and ”domestic” within SEPA re-emerged and uncertainty arose about what the post-migration period will look like. While the industry acknowledged that the vast majority of payments will eventually become SEPA payments, the remainder will likely be processed at a high cost. Thus, alternative ways to reduce overall costs were being sought and the Company is closely monitoring possible evolutions in this regard.

The payments industry also had to adapt to important transformational changes, such as the introduction of the Payment Services Directive (PSD). The PSD impacts banks’ operations as well as their cost and revenue struc - ture. Some banks knew that new sources of revenue would be required to fill the gap, in particular from value-added services. Others identified op - portunities for a new overall payment strategy as a result of increased com - petition and a more open market.

EBA CLEARING continued to act reliably in the collaborative interbank space on behalf of its shareholders and users. The Company attempted to meet all customer expectations in 2009. On the one hand, it remained cau - tious not to accelerate the pace of change beyond that which the majority of its banks wished to see. On the other hand, it leveraged on its core com - petencies of operational robustness and strong cost management and iden - tified how to maintain the dynamism that was needed to safeguard the business. This has placed EBA CLEARING in a privileged position to allow its shareholders to cope with the continuous challenges, like SEPA and PSD, by minimising the infrastructural costs, limiting the risks coming from fragmented solutions, and by enabling an efficient centralisation of liquidity, which has proven key with the emergence of the financial crisis.

Although the clear need to rationalise, consolidate and aggregate technology platforms remained strong throughout the year, there was also a need to maintain certain distinctions that allowed banks to differentiate between service offerings and to preserve value where possible.

Finally, EBA CLEARING continued discussions throughout 2009 with banking communities studying their migration to SEPA, where the Company is well positioned to offer migration paths for credit and debit transfers.

3 EBA CLEARING Shareholders Meeting 26 th May 2010 // Report of the Board 1.2 EURO1 / STEP1 Throughout 2009, EURO1 provided a robust and resilient service to its Services users. The confidence in the payment infrastructures was reflected in the gradual improvement in the payment volumes in spite of the general economic downturn. In the middle of the year, the decline on the previous year’s traffic was about 9 percent. This was in line with the decline seen in other systems such as CHAPS, The Clearing House, TARGET2 and in overall SWIFT messaging.

By the end of the year, this decline had been reduced to 4 percent, which also reflected the projection by SWIFT of a 5 percent downturn in messaging for 2009.

A series of presentations concerning the risk management controls and the liquidity optimisation tools available in EURO1 were made to most of the national communities and to several individual banks. This constituted a welcome revision of issues that were covered in depth when the various participants joined the system. It also served to widen the knowledge base about EURO1 within the respective banks.

Throughout 2009, a Business Continuity exercise was undertaken with the Oversight Division of the ECB. EBA CLEARING presented a full package of documented procedures setting out the various Business Impact Analyses against its overall Business Continuity Strategy. The Company aims for full compliance with the expanded Core Principle 7 relating to contingency.

EURO1 settlement migration to ASI4 in TARGET2

The project to migrate to Ancillary System Interface module 4 (ASI4) continued throughout the year with particular focus on finalising the legal situation to underpin the settlement process and the collateral pool arrangements. The aim is to have the least amount of change to the existing arrangements and thereby ensure the development and legal costs are minimised for the users.

4 EBA CLEARING Shareholders Meeting 26 th May 2010 // Report of the Board The basic scenario has been determined with the ECB:

 The pre-settlement account will remain in the Payment Module (as currently used for the FSC-liquidity bridge);

 The settlement account will be closed and a new technical account will be opened in ASI4 to manage the settlement;

 A Guarantee Fund Account will be created within ASI4, which will replace the current Collateral account.

The Oversight Division has confirmed that the existing arrangement of a set of distinct separate legal agreements can continue as it is and does not need to be consolidated into one single document as a result of the migration to ASI.

As regards a new full oversight assessment of EURO1, to renew the full assessment last carried out in 2002, the ECB has stated that it would be preferable to undertake this after the migration to ASI and probably during 2011 to allow for expected changes to legislation to be implemented.

Liquidity bridge

The liquidity bridge continued to be well-used during the whole period of the financial crisis, demonstrating its usefulness as a means for recycling liquidity at a time of severe liquidity shortages. 85 percent of the funds paid in (pre-funded) were distributed on average each day.

New releases

The technical release 10.5 was successfully implemented on 27 th June 2009 and the functional release 10.6 on 24 th October 2009. The functional release included the changes necessary to allow EURO1/STEP1 to carry the MT 202COV message, which is now being used by the participants. EBA CLEARING actively participated in the industry-wide preparations for the adoption of this new message type.

5 EBA CLEARING Shareholders Meeting 26 th May 2010 // Report of the Board EURO1/STEP1 Directory

The EURO1/STEP1 Directory continues to be populated on a gradual basis. By the end of the year, some 50 banks had entered over 2,400 reachable entries (BIC8s), which equated to well over 5,000 additional addressable BICs via the system (BIC11s). This is equivalent to an increase in reach for EURO1/STEP1 of more than 50 percent. In particular the bulk upload facility is being promoted to banks.

It allows for a simplified inputting process for those banks with over 100 addresses to load and will in particular help those banks with large networks, such as the savings bank and cooperative bank communities.

Participation

Dresdner Bank withdrew as a participant in EURO1 following its take-over by . Landesbank Hessen-Thueringen Girozentrale () joined as a new EURO1 participant. The number of direct participants during 2009 thus remained at 66. Following from several mergers and general consolidation arising from the financial crisis, the number of sub- participants in EURO1 stood at 57 at the year-end compared with 63 in January 2009.

Following various consolidation exercises within the Italian banking industry the number of STEP1 Banks fell from 107 at the beginning of the year to 99 in December 2009. This was in spite of three new banks joining STEP1 following their change of ownership in the wake of the financial crisis. Oldenburgische Landesbank, Fortis Bank Nederland and Reuschel & Co., all having originally been Sub-Participants in EURO1, no longer belonged to their previous banking groups and so joined the system in their own right. This in itself reflected the flexibility of the participation options within EURO1/STEP1, which effectively enabled these banks not to lose a day’s connection.

The number of Sub-Participants in STEP1 reduced over the year from 53 to 50.

6 EBA CLEARING Shareholders Meeting 26 th May 2010 // Report of the Board 1.3 STEP2 Services During 2009, EBA CLEARING continued to focus on the ramp-up of the STEP2 SCT Service, the launch of the STEP2 SDD Core and B2B Services and their full and continued compliance with the oversight standards for retail payment systems.

The STEP2 Services provided reach to all adhering banks in SEPA through the connections of Direct and Indirect Participants. It is worth noting that at the technical layer, the platform linked together 13 SEPA-compliant CSMs (as registered on the EPC website). This interlinking of systems occurred using the same STEP2 standards and settlement arrangements as the banks. These CSMs accounted for 16 percent of the volume of payments sent. In three cases the CSMs were central banks, in seven cases the CSMs were linked by central banks, and in the remaining three cases banks used the CSM as their technical facilitator to connect to STEP2.

Concerning the STEP2 SDD Services, during the first half of the year EBA CLEARING and the Pilot Banks were involved in the design, development, planning and communication of the roll-out. The SEPA Business Working Group met regularly to ensure a successful launch. To support the testing programme, the banks designed an Internet-based testing tool, allowing banks to self-test the complex Debit message and R-message flows.

In the second half of the year, acceptance testing, bank testing and TARGET2 certification testing across the two new services ran smoothly. Also launched at the same time was an operational directory, allowing banks to provide contact information for off-line queries and for invoicing balancing payments.

Service usage

In December 2009 the daily average number of credit transfers processed across the different STEP2 Services averaged 2.13 million, breaking the two million barrier for the first time.

XCT Service

The XCT Service on the STEP2 platform continued to offer a reliable service to a very large banking community throughout the EEA.

7 EBA CLEARING Shareholders Meeting 26 th May 2010 // Report of the Board The UK Entry point was withdrawn due to the PSD, but otherwise participation levels remained stable with 106 Direct Participants and 1,707 Indirect Participants from EU27 plus Iceland, Liechtenstein and Norway being connected to the XCT Service.

In December 2009, the daily average number of XCT transactions processed was 203,000 representing a decrease of 25 percent from the previous year, with an average daily value of EUR 840 million. These payments moved to the SCT Service, but it should be noted that since July 2009 until December 2009 volumes have remained fairly stable.

SEPA Credit Transfer (SCT) Service

The daily average number of SCT payments processed reached 470,000 transactions in December 2009, with a value of three billion euro. Just under 80 percent of these payments are sent in the afternoon for delivery the next day, while one-fifth are sent, settled and delivered as same–day transactions. 200,000 (about 1.75 percent) were settled during the optional night-time cycle.

Throughout 2009, the SCT user community was enlarged to bring the total to 117 direct participants, representing 4,369 Indirect Participants within SEPA. STEP2 SCT provides reach by interlinking with 12 technical facilitators (CSMs). Payments coming from these channels account for 16 percent of the payments.

SCT Additional Optional Services

STEP2 SCT continues to support Additional Optional Services (AOS) as defined on the EPC website as well as other Value-Added Services (VAS). These are designed to be open to all communities and users.

Italian Credit Transfer (ICT) Service

The ICT Service continued to provide a reliable service for Italian domestic payments whether settling in EURO1 or in BICOMP. Volumes remained stable during 2009 with the daily average number of ICT transactions processed being 1,428,976 each day, and a peak of 2.5 million in December. By the end of 2009, seven banks were Direct Participants in ICT and 69 banks were Indirect Participants.

8 EBA CLEARING Shareholders Meeting 26 th May 2010 // Report of the Board Migration of domestic volumes

EBA CLEARING continued discussions throughout 2009 with banking communities studying their migration to SEPA, where the Company was well positioned to offer migration paths for credit and debit transfers. This approach helped in further evolving and positioning the STEP2 platform as a Shared Platform concept for bank communities that want to phase out their local ACH infrastructure, while maintaining for an interim period their domestic instruments and governance structures.

In particular, two work streams were taken up to increase the attractiveness of the STEP2 platform for domestic volumes:

Benchmarking : With regard to processing domestic volumes, a benchmarking exercise was completed, proving that the STEP2 platform is capable of processing tens of millions of payments in a day. The test revealed that EBA CLEARING’s STEP2 platform would be able to process more than 50 million payments with simple hardware configuration upgrades.

Reduced Large-Volume Pricing : A pricing exercise was conducted with a view to simplifying and reducing transaction prices, bringing them to a level that is competitive with other large volume clearing systems.

The SCT Service was also updated to be compliant with the SCT Rulebook 3.2 in February 2009.

Some communities, such as the Finnish banks, have a stated aim of closing down their domestic payments infrastructure and consolidating all their traffic in STEP2. During 2009, they set an end date for their local system, and during 2009 increased their domestic volumes by 25 times.

Although in other cases initial volumes were low, STEP2 is embedded in the domestic landscape for SEPA payments.

1.4 Operations of the The central systems, operated by SWIFT and SIA-SSB under the direction Clearing Systems of EBA CLEARING, performed throughout the year fully in line with the agreed service level agreements. The continuing increase in volumes year-on-year has had no impact on the speed of processing of the central systems.

The volumes and values sent via the SWIFT Central System were well in line with the recommended target figures as indicated in EBA CLEARING’s Code of Conduct for the EURO1/STEP1 Services. The average EURO1 end-of-day settlement completion time improved slightly to 16:23 CET on average.

9 EBA CLEARING Shareholders Meeting 26 th May 2010 // Report of the Board The settlement of the XCT and ICT Services in EURO1 has had no negative impact on the robust functioning of the operational process as a whole.

On 2 nd November 2009, the EBA CLEARING SEPA Direct Debit Services (Core and B2B) started successfully and were embedded in the day-to-day operations as planned. In general, the settlement of the EBA CLEARING SEPA Services (both SCT and SDD) in TARGET2 continued to function as designed throughout 2009.

Investigations and customer support

In 2009, the Investigations and Customer Unit (ICU), the single point of contact for all operations-related enquiries on all live Services, registered and followed-up over 3,500 enquiries. This was a 12 percent decrease over 2008 and can be largely attributed to the further accustoming of the SCT Service and its settlement cycles within the banks.

With the support of the Operations and Technical Committee, the usage of the online ICU enquiry service was further optimised and continued to meet customer expectations. More specific information can be found under ‘Customer Support’ on the website of EBA CLEARING at www.ebaclearing.eu .

10 EBA CLEARING Shareholders Meeting 26 th May 2010 // Report of the Board Contingency procedures

In the course of 2009, the end-of-day settlement contingency procedures of all EURO1 banks were successfully tested. These mandatory tests are an integral part of EBA CLEARING’s test environment and include the involvement of the TARGET2 Service Desk. In co-operation with the Audit and Finance Committee, a new set of tests following the same standards has been prepared for 2010.

In addition, EBA CLEARING continued to organise bi-monthly fallback settlement tests that all participants were able to use on a voluntary basis.

With regard to STEP2, a large-scale crisis simulation exercise was organised in production environment together with SIA-SSB to check the business continuity and resiliency in the event of a disaster. The test was successfully executed and involved 43 banks. The final test results were published on 4th March 2010.

Dual operating centres

EBA CLEARING has continued to perform its daily tasks in parallel for all systems from both operating centres. Machine and staff rotation were conducted regularly in order to keep both teams familiar with the two environments. All changes and switches have been fully transparent to bank participants.

On normal working days, Operations staff is available from 06:15 to 19:00 CET. In addition, a 24/7-telephone hotline is in place to deal with emergencies outside standard operating hours.

Enhanced resilience

Several operational enhancement initiatives were undertaken with EBA CLEARING’s key providers. The actions included the review of the various architectural and procedural components and staff exchange programs.

EBA CLEARING continued to test throughout 2009 its own layers of resilience allowing for continued business control under extreme circum - stances, which included specific instructions in anticipation of possible pandemic outbreaks.

11 EBA CLEARING Shareholders Meeting 26 th May 2010 // Report of the Board Moreover, EBA CLEARING continued to participate in various industry-wide business continuity events, in order to enhance the internal disaster recovery and emergency procedures.

1.5 Activities of Board Operations and Technical Committee (OTC) Committees The Committee convened three times during 2009 under the rotating chairmanship of Kristine De Lepeleire and Hays Littlejohn. The main subjects of discussion were the EURO1 settlement migration to TARGET2 ASI, the incident management process and optimising the usage of Investi - gations and Customer Support tools.

Furthermore, the OTC approved EURO1/STEP1 change requests, including a complete revision of the SWIFT EURO1/STEP1 architecture (2010), and further prepared the decommissioning of FIN requests and reports. The OTC was also advised on the evolution of the STEP2 platform and in particular on the SDD launch, and was involved in the preparations of various customer questionnaires.

Moreover, the Committee continued to maintain and update the EURO1/STEP1 User Manuals and had an ongoing dialogue on SEPA developments, the improvement of the fallback settlement exercises and optimisation of the EURO1 settlement processes under TARGET2.

Strategy and Policy Committee (SPC)

Under the chairmanship of Robert Heisterborg, the main items of discussion for the Strategy and Policy Committee in 2009/10 were the interoperability model practiced by EBA CLEARING with regard to other CSMs, the positioning of the Company towards new service opportunities, the integration of new access channels and protocols for the STEP2 and EURO1 platforms, and the impact of the migration to the TARGET2 Ancillary System Interface on EURO1.

With regard to the interoperability model, the SPC asked the Management to monitor the discussions taking place at industry level. The Committee pointed out that the introduction of urgent payments for the Finnish community on STEP2 could be extended to other communities together with bilateral file exchange as a new service opportunity. The Committee remained open in its consideration of allowing additional networks or protocols for accessing the EURO1 and STEP2 platforms. On the topic of the impact of the TARGET2 ASI migration for the EURO1/STEP1 Service, the Committee reviewed the loss sharing scenario for the participants.

12 EBA CLEARING Shareholders Meeting 26 th May 2010 // Report of the Board Innovation Committee

Under the chairmanship of Thomas Egner, the Committee held three meetings in the first half of 2009 mainly focused on the definition of innovation within the scope of the Company’s activities. The rapid evolution in the means of payment initiation (e-invoicing, m-payments, EBPP etc.) and the need for banks to service their corporate customers over a broader scope of the financial value chain confront EBA CLEARING with the renewed question of which services banks require at an infrastructure level to support their business innovations, notably in SEPA, in the following years. The emergence of new solutions (e.g. payment platforms and networks) and convergent technologies put the traditional role of ACHs under stress. There is a requirement for more flexibility, real-time data and integrated solutions in the area of payments’ and cards’ clearing and settlement.

Given the wider importance of the matter for the Company, the Innovation Committee defined a list of topics to be addressed in 2009/10 from the various ideas that emerged from the consultations and discussions.

The Committee’s activities in 2009, backed by the Board in its effort to identify new ways to leverage the core ACH business, led to recommendations on Additional Optional Services (e.g. data conversion services, multi-currency), on industry-related topics and on the changes in the collaborative space for banks.

Audit and Finance Committee (AFC)

The Committee met five times during the year under the chairmanship of Thomas Egner and discussed the financial situation of the Company.

Furthermore, the AFC supervised a second operational audit by EBA CLEARING’s external auditors Ernst & Young and played a key role in the completion of the self- assessment guide against the Business Continuity Oversight Expectations (BCOE) for Systemically Important Payment Systems (SIPS), Core Principle number VII, as issued by the ECB. Moreover , as part of an annual process, a meeting was organised with SWIFT to better understand their audit principles and their outcomes.

13 EBA CLEARING Shareholders Meeting 26 th May 2010 // Report of the Board Legal Advisory Group (LAG)

During 2009, two meetings of the Legal Advisory Group were held under the chairmanship of Caroline Neyrinck. The Group has followed the works around notification of the STEP2 Services settling in TARGET2 and accompanied the drafting of the provisions to govern the STEP2 Core and B2B Services. The Group further concentrated on the second phase of the EURO1 migration to TARGET2, entailing migration for settlement from the Payments Module to the Ancillary System Interface.

The LAG reviewed in particular the legal feasibility study regarding the same as well as first full drafts for revisions to the Settlement Service Agreement and the Deposit Agreement with the ECB in view of their sending to the ECB.

The LAG also focused on the clarifications received from the ECB in its capacity as overseer of EURO1 relating to the requirements for country opinions and the updating thereof. The Group took in particular note of the requirement for regular opinions on EURO1 under the laws of Germany (governing law of the System) and (country of incorporation of EBA CLEARING), while for all other jurisdictions a full update on a 10-year cycle basis would apply save that important changes for specific jurisdictions or the adding of a new jurisdiction would attract a specific update or a new opinion. A 10-year cycle has now been reached, and in addition the need for a specific update of the US opinions has been identified. However, with the upcoming implementation of amendments to the Settlement Finality Directive into national law by December 2010, and taking into account further potential upcoming legislative changes in the aftermath of the financial crisis which may have an important bearing on aspects relating to partici - pation in payment systems, the ECB has asked that a full update of all country opinions be foreseen after the introduction of such changes to the relevant laws (expectedly starting towards the end of 2010). Similarly, this also applies to the update of the opinions for the US, which consequently is postponed for a limited period of time.

1.6 Corporate matters The term of office of five Board Members expired at the Shareholders Meeting on 30 th June 2009.

14 EBA CLEARING Shareholders Meeting 26 th May 2010 // Report of the Board The following Board Members were appointed by the Shareholders Meeting on 30 th June 2009 for a three-year term of office:

Rui Fonseca CAIXA GERAL DE DEPOSITOS Daniele Danese Diarmuid Hanrahan José Luis F. Iglesias BANCO BILBAO VIZCAYA ARGENTARIA Roger Storm SKANDINAVISKA ENSKILDA BANKEN

As of 31 st December 2009 the Board was composed as follows:

Chairman: (until Shareholders Meeting in )

Giorgio Ferrero 20 10

Deputy Chairman:

Robert Heisterborg ING BANK 20 10

Members:

Yannick Chagnon SOCIETE GENERALE 2010 Thomas Egner COMMERZBANK 2010 Hays Littlejohn UBS AG 2010 Jean-Paul Aeberhardt CREDIT AGRICOLE 2011 Kristine De Lepeleire KBC BANK 2011 Pip Evans BANK 2011 Olli Kähkönen BANK FINLAND 2011 Christian Westerhaus 2011 Daniele Danese BANCO POPOLARE 2012 Rui Fonseca CAIXA GERAL DE DEPOSITOS 2012 Diarmuid Hanrahan ALLIED IRISH BANKS 2012 José Luis F. Iglesias BANCO BILBAO VIZCAYA ARGENTARIA 2012 Kirstine Nilsson 2012

15 EBA CLEARING Shareholders Meeting 26 th May 2010 // Report of the Board Kirstine Nilsson, Swedbank, was appointed by the Board as EBA CLEARING Board Member for the remaining term of office of Roger Storm, SEB, further to the resignation of the latter and a correspondence vote called on 10 th November 2009.

The Chairman thanks those Board Members whose mandate will terminate at the end of the present Shareholders Meeting.

The following EBA CLEARING Board meetings took place in 2009:

 10 th February (Board Seminar)  24 th March  26 th May  29 th September  17 th November

Transfer of shares and changes in share capital of EBA CLEARING

The following changes occurred in 2009 as far as EBA CLEARING share capital and EBA CLEARING shareholders are concerned:

HypoVereinsbank and withdrew as EURO1 Parti- cipants and as EBA CLEARING Shareholders on 12 th January 2009. Their respective share in EBA CLEARING was cancelled on the day of their withdrawal and the EBA CLEARING share capital was reduced accordingly from EUR 68,000 to EUR 66,000.

With effect as of 11 th May 2009, withdrew as EURO1 Participant and as EBA CLEARING Shareholder. Dresdner Bank’s share in EBA CLEARING was cancelled and the EBA CLEARING share capital was reduced from EUR 66,000 to EUR 65,000.

With effect as of 31 st July 2009, Caisse Nationale des Caisses d’Epargne et de Prévoyance was replaced by BPCE as EURO1 Participant and as EBA CLEARING Shareholder.

With effect as of 5 th October 2009, Landesbank Hessen-Thueringen Girozentrale (Helaba) became EURO1 Participant and EBA CLEARING Shareholder. One new EBA CLEARING share was issued and the EBA CLEARING share capital was increased accordingly from EUR 65,000 to EUR 66,000.

16 EBA CLEARING Shareholders Meeting 26 th May 2010 // Report of the Board The share capital of EBA CLEARING amounted to EUR 66,000 on 31 st December 2009.

Agreements between the Company and its Board of Directors

With reference to agreements subject to the procedure of Article L-227-10 of the French Commercial Code and in particular agreements entered into between (i) the Company and (ii) its Chairman or one of its Directors, it is reported that no such agreement was signed by the Company during the fiscal year 2009.

1.7 Financial situation, The figures commented below, compared to Budget and to year-end 2008, P&L statement as are distributed with this report. of 31 st December 2009 Balance Sheet

The total assets of the Company at the end of the fiscal year 2009 amount to EUR 17,781,995. EUR 5,500,618 relates to current assets compared to EUR 6,128,615 of actual short term liabilities, the difference being self financed. Fixed assets, relating to items to be amortised amount to EUR 12,281,377 and are mainly made of investments into systems (see amorti - sation schedule attached to the balance sheet).

The pre-financing of systems (as it was the case of XCT and M-PEDD) results in compensation of the future amortisation charges by reserves, created at the time of collection of the funding. This compensation mechanism reached its last year in 2009 for XCT. The amount of the reserve is unchanged for SDD/M-PEDD as this system is presently in its ramp-up test period and did not yet enter in amortisation period.

In accordance with Art. L. 441-6-1 & D. 441-4 of the French Commercial Code and in accordance with art. 24-II of French law LME, EBA CLEAR - ING’s accounts payable as of 31 st December 2009 may be split by due date as follows:

 payable within 30 days: EUR 1,166,534.33 (total including VAT);  payable between 30 and 60 days: EUR 2,909,607.61 (total including VAT).

17 EBA CLEARING Shareholders Meeting 26 th May 2010 // Report of the Board With regard to the allocation of results, the Board acknowledged that the 2009 annual accounts show a profit of EUR 360,878 and recommends to the Shareholders Meeting to carry forward the profit.

The decision to carry forward the full 2009 net result, as proposed to the Shareholders meeting, will increase the amount of own funds to a level of EUR 2.1 million (from 1.7 million at the end of 2008), thereby further strengthening the financial status of the Company.

Revenues from Services

The total revenue of the Company in 2009 was EUR 22,968,851. This represents an increase by EUR 804,919 or 4 percent compared to 2008 and underscores the good performance of the Company at a time when the industry was suffering from severe set-backs. The increased income from the SCT Service (+30 percent on 2008) more than compensated the income reductions experienced in the EURO1 / STEP1 Services (-6 percent) and the XCT Service (-16 percent). The ICT Service’s revenues remained fairly stable (-2 percent).

Direct costs

The decline in fixed costs of EURO1 and STEP1 (-4 percent on 2008, mainly due to a reduction of 5 percent of the SWIFT fixed costs) could not compensate the reduction in revenues mentioned above. At the level of the STEP2 Group of Services, the total SIA fixed cost, although lower than budgeted, increased with the start up of the new systems (+38 percent compared to 2008).

However, the total direct costs of the systems for 2009 are 1.4 percent below budget and amount to EUR 14,536,812 compared to EUR 13,615,433 in 2008 (+7 percent).

The cost reductions in the systems’ maintenance and consultancies were offset by higher legal charges, mainly related to the use of TARGET2 for the settlement of the STEP2 SEPA Services.

18 EBA CLEARING Shareholders Meeting 26 th May 2010 // Report of the Board Gross margin

The Company’s gross margin in 2009 of EUR 8,432,039 is reduced by EUR 116,461 (-1.4 percent) compared to 2008 (EUR 8,548,499).

Company Costs

Operating costs in 2009 were maintained at a level similar to 2008. Total operating costs amounted to EUR 7,847,592, which is 6 percent below budget. Major cost containment efforts were made in the area of HR, external relation and consultancy. At the same time, the financial charges and interest rates followed favourable market conditions.

The share taken by EBA CLEARING in shared premises and equipment costs of the EBA Group was adapted in accordance with the actual use over the year and is now 80 percent (for EBA CLEARING) and 20 percent (for the ).

Results

As a result of effectively containing costs while maintaining continued revenue growth, the Company closed the year with a profit before taxes of EUR 584,447.

French corporate tax foreseen for 2009 is EUR 187,117 (32 percent of the result).

The tax payable in Belgium for a branch activity with no direct revenues needed to be adjusted to EUR 36,500.

The net result after tax is EUR 360,878 for 2009 (471,746 for 2008).

19 EBA CLEARING Shareholders Meeting 26 th May 2010 // Report of the Board 2. The Company’s activities in 2010

The following EBA CLEARING Board meetings took place so far in 2010:

 10 th February  25 th March  21 st April

2.1 EURO1 / STEP1 The ECB has designated EURO1 as a Critical Ancillary System. A self- Services certification has been completed by EBA CLEARING to confirm that the process for settling EURO1 in ASI4 will not jeopardise the overall smooth functioning of TARGET2. Such a statement will have to be provided each year. This supplements the work already undertaken for the Oversight Division in terms of the Business Continuity Oversight Exercise for which the final sign-off from the ECB is expected shortly.

Later this year, the ECB will also confirm those institutions which will be classified as Critical Participants in TARGET2. This is currently foreseen for the second quarter of 2010. The conditions have already been defined and include sending at least 2 percent of the daily value of transactions. It remains to be seen what will be the requirements for those banking groups that have already been defined as systemic by regulators under the auspices of the Financial Stability Board. 30 groups were so defined and 17 of these are EURO1 participants. EBA CLEARING is monitoring what could be required in terms of information provision for the new authorities, such as the European Systemic Risk Board and the European System of Financial Supervisors.

In turn, EBA CLEARING intends to establish its own criteria to define its critical participants and in a similar way will need to require banks to complete self-certification forms about operational resilience and back-up arrangements.

The liquidity saving benefits of EURO1 may gain renewed attention in the light of upcoming regulatory requirements relating to liquidity. Presentations concerning liquidity management and risk mitigation within EURO1 continue to be given to national communities and to individual banks on request.

The volumes of payments in EURO1 for 2010 are already ahead of those for the same period in 2009, indicating that business is slowly recovering from the low-points seen during the crisis. However, volumes still remain below the peaks of payment traffic seen in 2008.

20 EBA CLEARING Shareholders Meeting 26 th May 2010 // Report of the Board The Italian community of EURO1 banks is discussing how to migrate its domestic traffic to EURO1, following the creation of a specific identifier for such payments. The first pilot banks will shortly be testing the service.

Within STEP1 an exercise was undertaken to alert all service users (both EURO1 and STEP1) that the amount of an ERP payment can now be EUR 2 million in line with the minimum credit limit granted to all STEP1 banks. Feedback has already produced an increase in traffic with banks agreeing to amend their routing tables accordingly.

Settlement of EURO1 in TARGET2

The second edition of the Impact Document has been distributed to all banks together with a document detailing how the loss-sharing arrange - ments will work under the new regime of ASI4.

Under the ASI4 arrangements and in the event loss-sharing for EURO1 would have to be triggered in a multiple failure scenario, it will be necessary for all participants (both short and long banks) to make a loss-sharing payment. Under the present arrangements with the Payment Module, the position of the long bank would be reduced to cover the loss sharing amount. This is not possible with ASI4.

The proposed solution for managing abnormal circumstances entails usage of direct debits (via MT 204) for collateral replenishments and loss-sharing payments. The reason for choosing the direct debit model is to ensure time - liness of the replenishment. This said solution will be implemented in a second stage after the live date of migration to ASI4, and will also be the subject of a separate shareholders’ approval, which is expected to be by mail vote in the second half of 2010.

In order to successfully migrate to ASI4 by the required deadline, as agreed with the ECB, of 7th June 2010, the arrangements for replenishing the collateral pool in the event of abnormal circumstances and for loss-sharing payments will, by way of interim solution, be based on standard pay-ins (via MT 202).

21 EBA CLEARING Shareholders Meeting 26 th May 2010 // Report of the Board New releases

There is no functional release planned for 2010, but a technical release (11.0) will be implemented in November.

This will comprise the move of SWIFT’s second operational site that supports EURO1/STEP1 from the USA to the new second European operational site in Switzerland. This move will result in meeting the requests of EBA CLEARING and the European banks to keep EU-related payments data only in the European zone and no longer in the USA.

At the same time, a technical upgrade of the EURO1 machines will take place from HP PA-RISC to HP itanium. The MNM already functions on this platform, but will move at the same time to the new second European site. Since this is a technical change there will be no direct impact on bank systems. Instead, there will be a need for regression testing for use of the IWS.

Work has now started on assessing how XML messaging could be intro - duced into EURO1/STEP1 to enable banks to send all their payments, whether single or bulk, into EBA CLEARING. Eventually this could lead to the concept of a single gate.

EURO1/STEP1 Directory

By the first quarter, 56 banks had entered 8,394 reachable banks (BIC8), representing 16,894 identities (BIC11). This is equivalent to an increase in the “reach” of EURO1/STEP1 of nearly three times within a year from the launch of the Directory in April 2009. Including the participant banks there are now over 27,000 BICs reachable via EURO1/STEP1.

EBA CLEARING continues to offer the participants any support with their providers to ensure the Directory can be properly integrated within the banks’ back offices.

Participation

The fall-out from the financial crisis continues to impact the participants, but despite the legal demergers that have been completed, the number of participants in EURO1 remains constant at 66. OTP Bank in Hungary, the largest privately-owned bank in Eastern Europe, has decided to apply for participant status in EURO1 and connection should take place in the second half of the year.

22 EBA CLEARING Shareholders Meeting 26 th May 2010 // Report of the Board There are now 58 sub-participants in EURO1.

The major change for STEP1 was the removal of Bank Germany (the former American Express Bank) from its status as a STEP1 Bank to become a sub-participant in EURO1. Since joining STEP1 until its withdrawal Standard Chartered Bank had continuously been the largest user of the service. This means there are currently 98 STEP1 Banks and 50 STEP1 Sub-Participants.

2.2 STEP2 Services During 2010, the main activities of the Company regarding STEP2 will be based around four work strands:

1. The ongoing work of attracting domestic volumes to the SCT Service; 2. The positioning of additional services on the STEP2 platform; 3. The gradual ramp up of the SDD services; 4. The mandatory release work and developments from the EPC Rulebooks.

Banks and domestic communities are assessing throughout 2010 how to maximise the advantage of the SEPA investments they have made.

XCT Service

As the discussions continue around the nature and timing of an end-date for legacy payments (as the PSD brings in D+1 processing for all payments in 2012) and as some banks complete their migration from XCT to SCT, a study is taking place to understand what should happen to the XCT Service and over what time frame.

The STEP2 XCT Service represents a tested and reliable low cost platform for payment message exchanges among all major banks in the EU as Direct Participants and a wide range of additional banks as Indirect Parti- cipants. As such, the platform represents an available opportunity to create new services in relation to schemes other than the SEPA schemes, be they for non-euro currencies or for specific user communities or geographical zones.

23 EBA CLEARING Shareholders Meeting 26 th May 2010 // Report of the Board SCT Service

In March 2010, STEP2 SCT was enhanced to validate payments in real-time, even when the system is in a settlement phase. This is part of a modification to allow the STEP2 platform to accommodate for additional intra-day cycles on an optional basis to match the best service levels available in existing domestic schemes.

In May 2010, EBA CLEARING will implement SWIFTNet Role Based Access Control (RBAC) to further enhance the security of the STEP2 SEPA Services. This has been deployed in the test system, with over 80 banks actively participating. Live system activities are ongoing, and will become mandatory from 3 rd May 2010.

In November 2010, STEP2 SCT will be upgraded to comply with the 2010 EPC Rulebooks. This will include ISO format changes (SCT and SDD), the introduction of a Recall message (SCT), and a change to support account number transferability in Italy.

SDD Services

From 1 st November 2010 onwards, all banks must be reachable in the SEPA Direct Debit Core scheme. EBA CLEARING will offer joining windows in July and in November to allow those banks that have not joined so far to be reachable by STEP2 SDD.

In March 2010, the EPC Plenary approved a third (optional) Direct Debit scheme for ‘fixed amount direct debits’, where there is no refund right. At the time of writing there is no published launch date, but banks may be able to join from November 2010.

In November 2010, STEP2 SDD (Core and B2B) will be upgraded to comply with the EPC Rulebooks.

User feedback and representation

The user feedback arrangements of 2009 are being maintained so far. The XCT UAG continues to represent the XCT banks. For SCT and SDD, the Board of EBA CLEARING had communicated that there will be one (or several) User Advisory Group(s) relating to the Company’s SEPA Services. The Board envisaged that participation and voting rights in the UAG will be largely based on volumes exchanged. However, a meaningful representation scheme was intended to be set up only once the SEPA Services have grown and stabilised.

24 EBA CLEARING Shareholders Meeting 26 th May 2010 // Report of the Board Pending the take up of volumes, the user say within the SEPA Services is managed via dedicated meetings of all the users which are organised on a regular basis and typically at least twice a year. In order to progress the Board’s thinking on when to implement a formalised user representation scheme for the Company’s SEPA Services, it is proposed to conduct a brief survey among STEP2 Direct Participants in the SCT and SDD Services.

Any formalised structure for the SEPA Services should ensure retention and growth of confidence among users and should be built on the pillars of disclosure, fair user representation and a clear and effective distribution of responsibility.

In the interim, user requirements are voiced and discussed in a Business Working Group composed of bank representatives designated by the Pilot Banks and “information meetings” to all users. Meeting documentation is available to all direct participants via the EBA CLEARING website at www.ebaclearing.eu

New Initiatives and Additional Optional Services

EBA CLEARING will continue to ensure that the existing services it offers are robust, resilient and reliable. Where the Company can save banks costs in the complex and shifting market environment, it will act to do so, based on business case considerations.

Furthermore, the EBA CLEARING wishes to evolve in order to maintain a competitive position in the marketplace. Non-traditional players are offering innovative services for which there is a demand at a pan-European level. EBA CLEARING wishes to be in a position to offer similar services with similar service levels.

To that extent, EBA CLEARING is following a number of work strands that aim to upgrade the SEPA services to provide Additional Optional Services that customers and banks are already used to today:

Account Numbers : A number of communities are separately looking at services to replicate functionalities that exist domestically to manage account numbers and account number changes following mergers/demergers or customers moving banks.

25 EBA CLEARING Shareholders Meeting 26 th May 2010 // Report of the Board Direct Debit Mandates : For SEPA Direct Debits, two communities are investigating schemes to pass mandate-related information to the Debtor before the first Debit collection arrives, and/or to manage mandate-related information throughout its whole lifecycle.

Urgent payments : The SEEBACH community of Nordic banks in Finland has agreed to send payments with a one-hour service level end-to-end in SEPA XML. Implementation of this will begin in 2010 for use in the first half of 2011.

Bilateral File Exchange : EBA CLEARING has been asked to consider facilitating bilateral file exchange between banks with significant bilateral volumes.

Other changes for specific communities around networks, settlement cycles, and conversion algorithms are also being considered in an effort to help such communities move to SEPA.

2.3 Operations of the The central systems, both at the level of SWIFT and SIA-SSB, continued to Clearing Systems perform fully in line with the agreed service levels in the first three months of 2010. To date, the implementation of the new STEP2 SDD Services has had no impact on the processing of the systems as a whole. The continued increase of SEPA SCT volumes had no impact on the interaction between the various technical platforms and the various settlement cycles.

In co-operation with the Operations and Technical Committee, various operational upgrades are foreseen in the course of 2010 to guarantee appropriate service levels for all payments services of EBA CLEARING.

In the first quarter of 2010, an Incident Management road show was performed to enhance the banks’ understanding of the processes and communication in case any incidents should arise. Although useful feedback was received, the current design largely met customer expectations.

In line with the Crisis Management procedures, EBA CLEARING remains vigilant and continues to test its remote access at multiple European locations, regardless of physical venue. Tests with key service providers such as SWIFT (SWIFT Resiliency Service, SRS) and SIA-SSB are scheduled in regular intervals which are fully embedded in the business continuity arrangements.

26 EBA CLEARING Shareholders Meeting 26 th May 2010 // Report of the Board 2.4 Other relevant Presentations concerning the risk mitigation and liquidity management tools matters of interest available within EURO1 have taken place for the French and Nordic communities of users.

With regard to STEP2, so far there have been roadshows to Spain, Denmark, Sweden and Hungary.

EBAday, Sibos, and country group meetings will be used to promote the current and future offerings of EBA CLEARING. Furthermore, the Company will remain dedicated to meet individual banks to discuss their needs and offer guidance.

Furthermore, with Estonia likely to join the euro zone in 2011, EBA CLEARING is working with the Estonian banks to help provide a simple migration path to SEPA.

With regard to other relevant administrative matters, a decision was taken to move the registered office of EBA CLEARING to another location in Paris as of 1 st January 2011. Moreover, a decision was taken to reimburse Board members for their travel and accommodation expenses directly related to their participation in EBA CLEARING Board and Board Committee meetings.

27 EBA CLEARING Shareholders Meeting 26 th May 2010 // Report of the Board APPENDIX 1

Changes in EURO1/STEP1 Participation

2009

12 th January HypoVereinsbank and UniCredit Bank Austria withdrew as EURO1 Parti- cipants and became EURO1 Sub-Participants under UniCredit S.p.A.

9th February Fortis Bank Nederland was connected as a STEP1 Bank.

23 rd February The name of STEP1 Bank Unipol Banca changed to UFG Banca S.p.A.

17 th March The names of the following Sub-Participants of Swedbank in EURO1 changed:  AS Hansapank, Estonia became Swedbank AS,  AB Bankas Hansabankas, Lithuania became Swedbank AB,  AS Hansabanka, Latvia became Swedbank AS.

6th April Due to centralisation of group operations within Gruppo Montepaschi, Banca Toscana SpA was withdrawn from EURO1 as a Sub-Participant of Banca Monte dei Paschi di Siena.

The following banks were withdrawn from EURO1 as Sub-Participants of Banco Popular Español (POPU ES MM):  Banco de Castilla,  Banco de Credito Balear,  Banco de Galicia,  Banco de Vasconia

Dornbirner Sparkasse Bank withdrew as a STEP1 Bank.

Volkswagen Bank GmbH withdrew as a STEP1 Bank.

23 rd April Compagnie Financière du Crédit Mutuel (STEP1 Bank) merged with and into Caisse Interfédérale de Crédit Mutuel to become Crédit Mutuel Arkéa.

1st May STEP1 Bank Lokalbanken A/S Hilleroed changed its name to Handels - banken, Danmark.

28 EBA CLEARING Shareholders Meeting 26 th May 2010 // Report of the Board 4th May Banco Popular France was withdrawn from EURO1 as Sub-Participant of Banco Popular Español.

Oberbank AG, Bratislava was included as Sub-Address in STEP1 under Oberbank AG.

ICICI Bank UK PLC withdrew as a STEP1 Bank.

11 th May As a result of its acquisition by Commerzbank AG, Dresdner Bank withdrew as a EURO1 Bank and became a Sub-Participant in EURO1 of Commerzbank.

Reuschel & Co. KG, previously a EURO1 Sub-Participant of Dresdner Bank, became a EURO1 Sub-Participant of Commerzbank.

8th June Banca Popolare di Mantova S.p.A. was included as Sub-Participant in EURO1 under Banca Popolare di Milano S.p.A.

As a result of internal restructuring, STEP1 Bank Banca Popolare di Intra withdrew from STEP1 and its parent company, Veneto Banca Holding, took over its STEP1 participation.

22 nd June Cassa di Risparmio della Spezia withdrew from STEP1 as Sub-Participant of Cassa di Risparmio di Firenze.

6th July As a result of its acquisition by Banca Monte dei Paschi di Siena, Biver - banca Cassa di Risparmio di Biella e Vercelli S.p.A. changed from being a Sub-Participant in EURO1 under Intesa Sanpaolo S.p.A. to being a Sub- Participant under Banca Monte dei Paschi.

As a result of internal restructuring of the Veneto Banca Holding group, Cassa di Risparmio di Fabriano e Cupramontana S.p.A. was withdrawn as a STEP1 Bank.

Due to reorganisation within the Intesa Sanpaolo group, Cassa di Risparmio di Firenze was withdrawn as a STEP1 Bank.

DnB NOR Markets Custody was included as a sub-address in EURO1 under DnB NOR Bank ASA.

29 EBA CLEARING Shareholders Meeting 26 th May 2010 // Report of the Board 31 st July Caisse Nationale des Caisses d’Epargne et de Prévoyance was replaced by BPCE as EURO1 Participant.

3rd August Philippine National Bank (Europe) plc withdrew from being a STEP1 Bank.

7th September Following its integration within the , Société Marseillaise de Crédit withdrew from being a STEP1 Bank.

21 st September Following its merger with Vestjysk Bank, Ringkjoebing Bank withdrew from being a STEP1 Bank.

5th October Landesbank Hessen-Thueringen Girozentrale AG was connected as a EURO1 Participant.

Banco de Andalucia was withdrawn as a EURO1 Sub-Participant under Banco Popular Español.

Crédit Commercial du Sud-Ouest was withdrawn as a Sub-Participant in EURO1 under HSBC France.

19 th October Following its merger into the Svenska group Handels - banken Danmark was withdrawn as a STEP1 Bank.

2nd November WeBank was included as a Sub-Participant in EURO1 under Banca Popo - lare di Milano S.p.A.

Reuschel & Co K.G. was withdrawn as a Sub-Participant in EURO1 under Commerzbank AG and connected as a STEP1 Bank.

30 th November Following a legal demerger, Fionia Bank A/S transferred its STEP1 parti- cipation to Nova Bank Fyn A/S.

30 EBA CLEARING Shareholders Meeting 26 th May 2010 // Report of the Board 2010

11 th January Abbey National Plc, a Sub-Participant in EURO1 under , changed its name to Santander UK plc.

8th February Standard Chartered Bank Germany withdrew from being a STEP1 Bank to become a Sub-Participant under Standard Chartered Bank plc in EURO1.

The legal demerger of ABN AMRO Bank NV was completed with ABN AMRO Bank N.V. remaining EURO1 Participant.

The Royal N.V. became a Sub-Participant of plc in EURO1.

8th March Nordea Bank Finland PLC’s Frankfurt branch was included as a sub- address in EURO1.

22 nd March Following its acquisition, EURO1 Participant Bank N.A. changed its name to Bank N.A.

19 th April Following integration with its parent bank, MPS Banca Personale was with - drawn as a EURO1 Sub-Participant under Banca Monte dei Paschi di Siena.

10 th May Instituto Centrale delle Banche Popolari Italiane withdrew as a Pre-fund Participant in EURO1.

31 EBA CLEARING Shareholders Meeting 26 th May 2010 // Report of the Board APPENDIX 2

List of direct participants in EURO1/STEP1 (as from 31 st May 2010 )

ABN AMRO Bank EURO1 Participant Aktia Bank plc STEP1 Bank Allgemeine Sparkasse Oberösterreich STEP1 Bank Allied Irish Banks EURO1 Participant Allied Irish Bank (GB) EURO1 Sub-Participant First Trust Bank (AIB Group UK) EURO1 Sub-Participant EURO1 Participant Amagerbanken STEP1 Bank STEP1 Bank Banca Agricola Popolare di Ragusa STEP1 Bank Banca d'Italia PFP Banca del Fucino STEP1 Bank Banca del Piemonte STEP1 Bank Banca delle Marche STEP1 Bank Banca di Imola STEP1 Bank Banca di Romagna STEP1 Bank Banca Monte dei Paschi di Siena EURO1 Participant Banca Antonveneta EURO1 Sub-Participant Banca Monte Paschi Belgio EURO1 Sub-Participant Biverbanca – CdR di Biella e Vercelli EURO1 Sub-Participant MPS Leasing & Factoring EURO1 Sub-Participant Banca Monte Parma STEP1 Bank Banca Nazionale del Lavoro EURO1 Participant STEP1 Bank Banca Popolare dell'Alto Adige / Südtiroler STEP1 Bank Volksbank Banca Popolare dell'Emilia Romagna STEP1 Bank Banca Popolare di Milano EURO1 Participant Banca di Legnano EURO1 Sub-Participant Banca Popolare di Mantova S.p.A. EURO1 Sub-Participant CdR di Alessandria EURO1 Sub-Participant WeBank EURO1 Sub-Participant Banca Popolare di Sondrio STEP1 Bank Banca Popolare di Spoleto STEP1 Bank Banca Popolare di Vicenza STEP1 Bank Banca Nuova STEP1 Sub-Participant CariPrato STEP1 Sub-Participant

32 EBA CLEARING Shareholders Meeting 26 th May 2010 // Report of the Board Banca Sella STEP1 Bank Bancaperta STEP1 Bank Banca dell’Artigianato e dell’Industria STEP1 Sub-Participant Credito Artigiano STEP1 Sub-Participant Credito Piemontese STEP1 Sub-Participant Credito Siciliano STEP1 Sub-Participant STEP1 Sub-Participant Banco Bilbao Vizcaya Argentaria EURO1 Participant Banco BPI STEP1 Bank Banco Comercial Português EURO1 Participant Banco Cooperativo Español STEP1 Bank Banco de Sabadell EURO1 Participant Banco Español de Credito EURO1 Participant Banco Espirito Santo EURO1 Participant Banco Guipuzcoano STEP1 Bank STEP1 Bank Banco Popolare Societa Cooperativa EURO1 Participant Banca Caripe EURO1 Sub-Participant Banca Popolare di Crema EURO1 Sub-Participant Banca Popolare di Cremona EURO1 Sub-Participant Banca Popolare di Lodi EURO1 Sub-Participant Banca Popolare di Novara EURO1 Sub-Participant Banca Popolare di Verona EURO1 Sub-Participant CdR di Lucca Pisa Livorno EURO1 Sub-Participant Credito Bergamasco EURO1 Sub-Participant Efibanca EURO1 Sub-Participant Banco Popular Español EURO1 Participant Banco Popular Portugal EURO1 Sub-Participant Banco Santander EURO1 Participant Santander UK PLC EURO1 Sub-Participant Banco Santander, Frankfurt EURO1 Sub-Address Banco Santander Totta EURO1 Sub-Participant Bank für Tirol und Vorarlberg STEP1 Bank Bank of Åland STEP1 Bank EURO1 Participant Public Company STEP1 Bank Bank of Cyprus (Greece) STEP1 Sub-Participant EURO1 Participant Bank of Tokyo-Mitsubishi UFJ (UK) EURO1 Participant Bank BPH SA STEP1 Bank

33 EBA CLEARING Shareholders Meeting 26 th May 2010 // Report of the Board Banka Slovenije PFP STEP1 Bank Banque et Caisse d'Epargne de l'Etat, EURO1 Participant Luxembourg Banque Fédérative du Crédit Mutuel EURO1 Participant Crédit Industriel et Commercial EURO1 Sub-Participant Banque Michel Inchauspé – BAMI STEP1 Bank Banque Palatine STEP1 Bank Banque Postale, La STEP1 Bank STEP1 Bank Barclays Bank EURO1 Participant STEP1 Bank BHF-BANK STEP1 Bank Bilbao Bizkaia STEP1 Bank BKS Bank AG STEP1 Bank BNP Paribas EURO1 Participant BPCE (formerly CNCE) EURO1 Participant BRED Banque Populaire EURO1 Participant Bremer Landesbank Kreditanstalt Oldenburg STEP1 Bank Caixa Central de Crédito Agrícola Mútuo STEP1 Bank Caixa d'Estalvis de Catalunya STEP1 Bank Caixa d'Estalvis i Pensions de Barcelona EURO1 Participant – Caixa Geral de Depositos EURO1 Participant Caja de Ahorros de Galicia STEP1 Bank Caja de Ahorros del Mediterráneo STEP1 Bank Caja Gipuzkoa San Sebastián - Kutxa STEP1 Bank STEP1 Bank EURO1 Participant Cassa di Risparmio della Provincia di Chieti STEP1 Bank Cassa di Risparmio della Provincia di Teramo STEP1 Bank Cassa di Risparmio di Asti STEP1 Bank Cassa di Risparmio di Cesena STEP1 Bank Cassa di Risparmio di Fermo STEP1 Bank Cassa di Risparmio di Ferrara STEP1 Bank Cassa di Risparmio di Loreto STEP1 Bank Cassa di Risparmio di Ravenna STEP1 Bank (UK) EURO1 Participant Commerzbank EURO1 Participant Commerzbank AG EURO1 Sub-Participant (formerly Dresdner Bank AG)

34 EBA CLEARING Shareholders Meeting 26 th May 2010 // Report of the Board Confederación Española de Cajas de Ahorros STEP1 Bank Caixa d’Estalvis de Girona STEP1 Sub-Participant Caixa d’Estalvis de Manresa STEP1 Sub-Participant Caixa d’Estalvis de Sabadell STEP1 Sub-Participant Caixa d’Estalvis de Tarragona STEP1 Sub-Participant Caixa d’Estalvis de Terrassa STEP1 Sub-Participant Caixa d’Estalvis del Penedés STEP1 Sub-Participant Caixa d’Estalvis Laietana STEP1 Sub-Participant Caixa de Manlleu STEP1 Sub-Participant Caixanova STEP1 Sub-Participant Caja de Ahorros de Asturias STEP1 Sub-Participant Caja de Ahorros de Ávila STEP1 Sub-Participant Caja de Ahorros de Castilla – La Mancha STEP1 Sub-Participant Caja de Ahorros de la Inmaculada STEP1 Sub-Participant de Aragón Caja de Ahorros de la Rioja STEP1 Sub-Participant Caja de Ahorros de Murcia STEP1 Sub-Participant Caja de Ahorros de Pollença STEP1 Sub-Participant Caja de Ahorros de Salamanca y Soria STEP1 Sub-Participant – Caja Duero Caja de Ahorros de Santander y Cantabria STEP1 Sub-Participant Caja de Ahorros de Vitoria y Alava STEP1 Sub-Participant Caja de Ahorros Municipal de Burgos STEP1 Sub-Participant Caja de Ahorros Provincial de Guadalajara STEP1 Sub-Participant Caja de Ahorros y Monte de Piedad STEP1 Sub-Participant de Córdoba – Caja Sur Caja de Ahorros y Monte de Piedad STEP1 Sub-Participant de Extremadura Caja de Ahorros y Monte de Piedad STEP1 Sub-Participant de las Baleares Caja de Ahorros y Monte de Piedad STEP1 Sub-Participant de Navarra Caja de Ahorros y Monte de Piedad STEP1 Sub-Participant de Ontinyent Caja de Ahorros y Monte de Piedad STEP1 Sub-Participant de Segovia Caja de Ahorros y Monte de Piedad STEP1 Sub-Participant del Círculo Católico de Obreros de Burgos Caja España de Inversiones STEP1 Sub-Participant

35 EBA CLEARING Shareholders Meeting 26 th May 2010 // Report of the Board Caja General de Ahorros de Canarias STEP1 Sub-Participant Caja General de Ahorros de Granada STEP1 Sub-Participant Caja Insular de Ahorros de Canarias STEP1 Sub-Participant Caja Provincial de Ahorros de Jaén STEP1 Sub-Participant Cajasol STEP1 Sub-Participant Monte de Piedad y Caja General STEP1 Sub-Participant de Ahorros de Badajoz Unicaja STEP1 Sub-Participant Crédit Agricole SA EURO1 Participant Banca Popolare Friuladria EURO1 Sub-Participant Cassa di Risparmio di Parma e Piacenza EURO1 Sub-Participant Crédit Agricole CIB EURO1 Sub-Participant Crédit Lyonnais EURO1 Sub-Participant Emporiki Bank of Greece EURO1 Sub-Participant Crédit Coopératif STEP1 Bank Crédit Mutuel Arkéa STEP1 Bank Crédit du Nord EURO1 Participant STEP1 Bank Danske Andelskassers Bank STEP1 Bank EURO1 Participant Fokus Bank EURO1 Sub-Address National Irish Bank EURO1 Sub-Address Northern Bank EURO1 Sub-Participant Sampo Bank EURO1 Sub-Participant PFP Deutsche Bank AG EURO1 Participant Deutsche Bank Privat- u. Geschäftskunden EURO1 Sub-Participant PFP Bank STEP1 Bank Dexia Banque Internationale à Luxembourg EURO1 Participant DiBa Bank STEP1 Bank Djurslands Bank STEP1 Bank DnB NOR Bank (UK) EURO1 Participant DnB Nor Bank, Finland EURO1 Sub-Participant DnB NOR Markets Custody (Oslo branch) EURO1 Sub-Address DZ Bank EURO1 Participant EFG EURO1 Participant Bank AG EURO1 Participant Europe Arab Bank STEP1 Bank Europe Arab Bank, Vienna STEP1 Sub-Participant

36 EBA CLEARING Shareholders Meeting 26 th May 2010 // Report of the Board Europe Arab Bank, Paris STEP1 Sub-Participant Europe Arab Bank, London STEP1 Sub-Participant Europe Arab Bank, Rome STEP1 Sub-Participant Europe Arab Bank, Madrid STEP1 Sub-Participant Fortis Bank EURO1 Participant BGL BNP Paribas SA EURO1 Sub-Participant Fortis Bank Nederland STEP1 Bank Hamburger Sparkasse STEP1 Bank Helaba – Landesbank Hessen-Thüringen EURO1 Participant STEP1 Bank Hellenic Bank (Greece) STEP1 Sub-Participant HSBC Bank EURO1 Participant HSBC France EURO1 Participant HSBC UBP EURO1 Sub-Address Ibercaja STEP1 Bank ICCREA Banca STEP1 Bank & PFP ING Bank EURO1 Participant Bank Mendes Gans EURO1 Sub-Participant ING Bank (France) EURO1 Sub-Participant ING Bank Slaski EURO1 Sub-Participant ING Belgium EURO1 Sub-Participant ING Luxembourg EURO1 Sub-Participant Intesa Sanpaolo SpA EURO1 Participant Banca Intesa (France) EURO1 Sub-Participant Société Européenne de Banque EURO1 Sub-Participant IPAR Kutxa Rural STEP1 Bank Istituto Centrale delle Banche Popolari Italiane STEP1 Bank JPMorgan (Germany) EURO1 Participant JPMorgan Bank (Ireland) EURO1 Sub-Participant STEP1 Bank KBC Bank EURO1 Participant KBL European Private Bankers S.A. EURO1 Participant La Poste SA de droit public PFP Landesbank Baden-Württemberg EURO1 Participant Landesbank Berlin STEP1 Bank Lloyds TSB Bank EURO1 Participant Magyar Nemzeti Bank PFP Marfin Popular Bank STEP1 Bank MashreqBank (London Branch) STEP1 Bank Narodowy Bank Polski PFP

37 EBA CLEARING Shareholders Meeting 26 th May 2010 // Report of the Board EURO1 Participant Clydesdale Bank Plc EURO1 Sub-Participant EURO1 Participant National Westminster Bank EURO1 Participant EURO1 Participant Nordea Bank Finland EURO1 Participant Nordea Bank Danmark EURO1 Sub-Participant Nordea Bank Norge EURO1 Sub-Participant Nordea Bank Sweden EURO1 Sub-Participant Nordjyske Bank STEP1 Bank Nørresundby Bank STEP1 Bank Nova Bank Fyn A/S STEP1 Bank Oberbank STEP1 Bank Oesterreichische Nationalbank PFP Oldenburgische Landesbank STEP1 Bank Østjydsk Bank STEP1 Bank STEP1 Bank Pohjola Bank EURO1 Participant Nederland EURO1 Participant Raiffeisenlandesbank Oberösterreich STEP1 Bank Raiffeisen Landesbank Südtirol PFP Raiffeisen-Landesbank Tirol STEP1 Bank Raiffeisen Zentralbank Österreich AG EURO1 Participant Reuschel & Co. KG STEP1 Bank Ringkjøbing Landbobank STEP1 Bank Roskildebank STEP1 Bank Royal Bank of Scotland EURO1 Participant Royal Bank of Scotland NV EURO1 Sub-Participant S-Bank STEP1 Bank Skandinaviska Enskilda Banken AB EURO1 Participant AS SEB Pank EURO1 Sub-Participant SEB AG EURO1 Sub-Participant SEB Banka EURO1 Sub-Participant SEB SA Luxembourg EURO1 Sub-Participant Skjern Bank STEP1 Bank Société Générale EURO1 Participant Société Générale Bank & Trust STEP1 Bank Bank STEP1 Bank Sparekassen Sjælland STEP1 Bank Standard Chartered Bank EURO1 Participant Standard Chartered Bank Germany Branch EURO1 Sub-Address Steiermärkische Bank und Sparkassen STEP1 Bank

38 EBA CLEARING Shareholders Meeting 26 th May 2010 // Report of the Board Svenska Handelsbanken EURO1 Participant Swedbank EURO1 Participant Swedbank AB, Lithuania EURO1 Sub-Participant Swedbank AS, Latvia EURO1 Sub-Participant Swedbank AS, Estonia EURO1 Sub-Participant Swiss Euro Clearing Bank STEP1 Bank Sydbank STEP1 Bank STEP1 Bank UBI Banca STEP1 Bank UBS AG (UK) EURO1 Participant UFG Banca S.p.A. STEP1 Bank UniCredit S.p.A. EURO1 Participant UniCredit Bank AG EURO1 Sub-Participant UniCredit Bank Austria EURO1 Sub-Participant Veneto Banca Holding SCPA STEP1 Bank Vestfyns Bank STEP1 Bank Vestjysk Bank STEP1 Bank VTB Bank (Deutschland) AG STEP1 Bank Wells Fargo Bank NA (UK) EURO1 Participant WestLB AG EURO1 Participant

39 EBA CLEARING Shareholders Meeting 26 th May 2010 // Report of the Board APPENDIX 3

Direct Participants in STEP2 XCT (as of 31 st May 2010)

NAME BIC ABN AMRO BANK NV ABNANL2A AKTIA BANK PLC HELSFIHH ALLIED IRISH BANKS PLC AIBKIE2D ALPHA BANK AE CRBAGRAA AMAGERBANKEN AMBKDKKK AS SEB PANK EEUHEE2X BANCA DELLE MARCHE SPA BAMAIT3A BANCA D'ITALIA BITAITRR BANCA MONTE DEI PASCHI DI SIENA S.P.A PASCITMM BANCA NAZIONALE DEL LAVORO S.P.A. BNLIITRR BANCA POPOLARE DELL'EMILIA ROMAGNA S.C.R.L. BPMOIT22 BANCA POPOLARE DI MILANO SCRL BPMIITMM BANCA POPOLARE DI SONDRIO POSOIT22 BANCA POPOLARE DI VICENZA BPVIIT22 BANCO BILBAO VIZCAYA ARGENTARIA BBVAESMM BANCO BPI SA BBPIPTPL BANCO COMERCIAL PORTUGUES SA BCOMPTPL BANCO DE SABADELL SA BSABESBB BANCO ESPANOL DE CREDITO ESPCESMM BANCO ESPIRITO SANTO, SA BESCPTPL BANCO PASTOR SA PSTRESMM BANCO POPOLARE SOCIETA COOPERATIVA BAPPIT22 BANCO POPULAR ESPANOL POPUESMM BANCO SANTANDER BSCHESMM BANCO SANTANDER TOTTA SA TOTAPTPL BANK OF CYPRUS PUBLIC COMPANY LIMITED BCYPCY2N BANKA SLOVENIJE BSLJSI2X BANQUE ET CAISSE D'EPARGNE DE L'ETAT DE BCEELULL LUXEMBOURG

40 EBA CLEARING Shareholders Meeting 26 th May 2010 // Report of the Board BANQUE FEDERATIVE DU CREDIT MUTUEL CMCIFRPA BANQUE RAIFFEISEN S.C. CCRALULL BARCLAYS BANK BARCGB22 BGL BNP PARIBAS BGLLLULL BNP PARIBAS BNPAFRPP BPCE FORMERLY CNCE CEPAFRPP BRED BANQUE POPULAIRE BREDFRPP CAIXA GERAL DE DEPOSITOS CGDIPTPL CAJA MADRID - CAJA DE AHOR. Y MONTE DE CAHMESMM PIEDAD DE M CASSA DI RISPARMIO DI PARMA E PIACENZA S.P.A. CRPPIT2P CITIBANK, N.A. LONDON BRANCH CITIGB2L COMMERZBANK AG COBADEFF COMMERZBANK AG (FORMERLY DRESDNER DRESDEFF BANK AG) CONFEDERACION ESPANOLA DE CAJAS CECAESMM DE AHORROS CREDIT AGRICOLE SA AGRIFRPP CREDIT DU NORD NORDFRPP CREDIT LYONNAIS SA CRLYFRPP CREDITO EMILIANO S.P.A BACRIT22 DANSKE BANK A/S DABADKKK DE NEDERLANDSCHE BANK N.V. FLORNL2A DEUTSCHE BANK AG DEUTDEFF DEUTSCHE BUNDESBANK MARKDEFF DEXIA BANK BELGIUM NV GKCCBEBB DEXIA BANQUE INTERNATIONALE A LUXEMBOURG BILLLULL DNB NOR BANK ASA DNBANOKK DZ BANK AG GENODEFF EFG EUROBANK ERGASIAS SA EFGBGRAA FORTIS BANK NV/SA GEBABEBB HANDELSBANKEN AB (PUBL) HANDSESS

41 EBA CLEARING Shareholders Meeting 26 th May 2010 // Report of the Board HELLENIC BANK PUBLIC COMPANY LTD HEBACY2N HSBC BANK PLC MIDLGB22 HSBC FRANCE CCFRFRPP ICCREA BANCA S.P.A ICRAITRR ING BANK INGBNL2A ING BELGIUM SA/NV BBRUBEBB ING LUXEMBOURG SA CELLLULL INTESA SANPAOLO BCITITMM ISTITUTO CENTRALE DELLE BANCHE CIPBITMM POP. ITALIANE SPA J.P. MORGAN A.G. FRANKFURT CHASDEFX JYSKE BANK JYBADKKK KBC BANK NV BRUSSELS KREDBEBB KBL EUROPEAN PRIVATE BANKERS S.A. KBLXLULL LA CAIXA - CAJA DE AHORROS Y PENSIONES CAIXESBB LA POSTE S.A. DE DROIT PUBLIC PCHQBEBB LANDESBANK BADEN-WURTTEMBERG SOLADEST MAGYAR NEMZETI BANK MANEHUHB NARODOWY BANK POLSKI NBPLPLPW NATIXIS CCBPFRPP NATIONAL BANK OF GREECE SA ETHNGRAA NATIONAL WESTMINSTER BANK PLC NWBKGB2L NORDEA BANK DANMARK A/S NDEADKKK NORDEA BANK FINLAND PLC NDEAFIHH NORDEA BANK NORGE ASA NDEANOKK NORDEA BANK SWEDEN AB PUBL NDEASESS NOVA BANK FYN A/S FIONDK22 OESTERREICHISCHE NATIONALBANK NABAATWW PIRAEUS BANK SA PIRBGRAA POHJOLA PANKKI OYJ (POHJOLA BANK PLC) OKOYFIHH

42 EBA CLEARING Shareholders Meeting 26 th May 2010 // Report of the Board RABOBANK NEDERLAND RABONL2U RAIFFEISEN LANDESBANK SUDTIROL AG RZSBIT2B RAIFFEISEN ZENTRALBANK AUSTRIA RZBAATWW SEB BANKA UNLALV2X SECB SWISS EURO CLEARING BANK GMBH SECGDEFF SKANDINAVISKA ENSKILDA BANKEN PUBL AB ESSESESS SOCIETE GENERALE SOGEFRPP SOCIETE GENERALE BANK AND TRUST SGABLULL SPAR NORD BANK A/S SPNODK22 STANDARD CHARTERED BANK GERMANY BRANCH SCBLDEFX SWEDBANK SWEDSESS SYDBANK A/S SYBKDK22 THE ROYAL BANK OF SCOTLAND NV RBOSNL2A THE ROYAL BANK OF SCOTLAND PLC RBOSGB2L UBI BANCA S.C.P.A BLOPIT22 UNICREDIT BANK AG (HYPOVEREINSBANK) HYVEDEMM UNICREDIT BANK AUSTRIA AG BKAUATWW UNICREDIT SPA UNCRITMM WESTLB AG WELADEDD

43 EBA CLEARING Shareholders Meeting 26 th May 2010 // Report of the Board Direct Participants in STEP2 ICTS (as of 31 st May 2010)

NAME BIC BANCA MONTE DEI PASCHI DI SIENA SPA PASCITMM BANCA NAZIONALE DEL LAVORO BNLIITRR BANCO POPOLARE SOC. COOP. BAPPIT22 INTESA SANPAOLO SPA BCITITMM MONTE DEI PASCHI DI SIENA LEASING MPLFIT33 & FACTORING UNICREDIT SPA UNCRITMM

44 EBA CLEARING Shareholders Meeting 26 th May 2010 // Report of the Board Direct Participants in STEP2 SCT (as of 31 st May 2010)

NAME BIC ABN AMRO BANK NV ABNANL2A AKTIA BANK PLC HELSFIHH ALLIED IRISH BANKS PLC AIBKIE2D ALPHA BANK AE CRBAGRAA AMAGERBANKEN AMBKDKKK AS SEB PANK EEUHEE2X BANCA D’ITALIA BITAITRA BANCA D’ITALIA BITAITRR BANCA MONTE DEI PASCHI DI SIENA PASCITMM BANCA POPOLARE DELL’EMILIA ROMAGNA BPMOIT22 BANCA POPOLARE DI SONDRIO SCPA POSOIT22 BANCA POPOLARE FRIULADRIA BPPNIT2P BANCA SELLA HOLDING SPA SELBIT22 BANCO BILBAO VIZCAYA ARGENTARIA BBVAESMM BANCO BPI SA BBPIPTPL BANCO COMERCIAL PORTUGUES SA BCOMPTPL BANCO DE ESPANA ESPBESMM BANCO DE SABADELL SA BSABESBB BANCO ESPANOL DE CREDITO ESPCESMM BANCO ESPIRITO SANTO SA BESCPTPL BANCO PASTOR SA PSTRESMM BANCO POPOLARE SOCIETA COOPERATIVA BAPPIT22 BANCO POPULAR ESPANOL POPUESMM BANCO SANTANDER SA BSCHESMM BANCO SANTANDER TOTTA SA TOTAPTPL BANK OF ALAND PLC AABAFI22 BANK OF AMERICA FRANKFURT BOFADEFX BANK OF SCOTLAND IRELAND BOSIIE2D

45 EBA CLEARING Shareholders Meeting 26 th May 2010 // Report of the Board BANKA SLOVENIJE BSLJSI2X BANKINTER SA BKBKESMM BANQUE DE FRANCE BDFEFRPP BANQUE ET CAISSE DEPARGNE DE L’ETAT BCEELULL BARCLAYS BANK PLC BARCGB22 BGL BNP PARIBAS BGLLLULL BNP PARIBAS DUBLIN BRANCH BNPAIE2D BNP PARIBAS SA BNPAFRPP BPCE FORMERLY CNCE CEPAFRPP BRED BANQUE POPULAIRE BREDFRPP CAIXA DESTALVIS I PENSIONS DE BARCELONA CAIXESBB CAIXA GERAL DE DEPOSITOS CGDIPTPL CAJA DE AHORROS Y MONTE DE PIEDAD CAHMESMM DE MADRID CASSA CENTRALE BANCA CREDITO CCRTIT2T CASSA DI RISPARMIO DI PARMA E PIACENZA CRPPIT2P CITIBANK NA LONDON CITIGB2L COMMERZBANK AG COBADEFF COMMERZBANK FORMERLY DRESDNER DRESDEFF CONFEDERACION ESPANOLA DE CAJAS CECAESMM DE AHORROS CREDIT AGRICOLE SA AGRIFRPP CREDIT DU NORD NORDFRPP CREDIT MUTUEL ARKEA CMBRFR2B CREDIT MUTUEL CIC BANQUES CMCIFRPA CREDIT SUISSE CRESCHZZ CREDITO EMILIANO SPA BACRIT22 DANSKE BANK DABADKKK DE NEDERLANDSCHE BANK NV FLORNL2A DEN NORSKE BANK FINLAND BRANCH DNBAFIHX DEUTSCHE BANK AG DEUTDEFF DEUTSCHE BUNDESBANK MARKDEFF

46 EBA CLEARING Shareholders Meeting 26 th May 2010 // Report of the Board AG PBNKDEFF DEXIA BANK BELGIUM SA GKCCBEBB DEXIA BANQUE INTERNATIONALE A LUXEMBOURG BILLLULL DNB NOR BANK ASA DNBANOKK DZ BANK AG GENODEFF EFG EUROBANK ERGASIAS EFGBGRAA EMPORIKI BANK OF GREECE SA EMPOGRAA FORTIS BANK BELGIUM GEBABEBB FORTIS BANK NEDERLAND FTSBNL2R HSBC BANK PLC MIDLGB22 ICCREA BANCA SPA ICRAITRR ING BANK NV AMSTERDAM INGBNL2A ING BELGIUM NV/SA BBRUBEBB ING LUXEMBOURG SA CELLLULL ISTITUTO CENTRALE DELLE BANCHE CIPBITMM POP. ITALIANE INTESA SANPAOLO SPA BCITITMM JP MORGAN AG CHASDEFX JYSKE BANK AS JYBADKKK KBC BANK NV KREDBEBB PSSTFRPP LA POSTE SA DE DROIT PUBLIC PCHQBEBB LANDESBANK HESSEN THUERINGEN HELADEFF LBBW LANDESBANK BADEN WUERTTEMBERG SOLADEST LLOYDS TSB BANK PLC LONDON LOYDGB2L NARODOWY BANK POLSKI NBPLPLPW NATIONAL BANK OF GREECE SA ETHNGRAA NATIONAL WESTMINSTER BANK PLC NWBKGB2L NATIXIS CCBPFRPP NORDEA BANK FINLAND PLC NDEAFIHH NOVA BANK FYN AS FIONDK22

47 EBA CLEARING Shareholders Meeting 26 th May 2010 // Report of the Board OESTERREICHISCHE NATIONALBANK NABAATWW PIRAEUS BANK SA PIRBGRAA POHJOLA PANKKI OYJ OKOYFIHH RABOBANK NEDERLAND UTRECHT RABONL2U RAIFFEISEN LANDESBANK SUDTIROL RZSBIT2B RAIFFEISEN ZENTRALBANK AUSTRIA RZBAATWW S BANK LTD SBANFIHH SAMPO BANK PLC DABAFIHH SEB BANKA UNLALV2X SECB SWISS EURO CLEARING BANK SECGDEFF SKANDINAVISKA ENSKILDA BANKEN ESSEDK22 SKANDINAVISKA ENSKILDA BANKEN ESSELULL SKANDINAVISKA ENSKILDA BANKEN ESSESESS SOCIETE GENERALE SOGEFRPP SOCIETE GENERALE BANK AND TRUST SGABLULL SPAR NORD BANK AS SPNODK22 SVENSKA HANDELSBANKEN HANDSESS SWEDBANK AB PUBL SWEDSESS SYDBANK SYBKDK22 TAPIOLA BANK LTD TAPIFI22 THE ROYAL BANK OF SCOTLAND NV RBOSNL2A THE ROYAL BANK OF SCOTLAND NV RBOSNL2B THE ROYAL BANK OF SCOTLAND PLC RBOSGB2L UBI BANCA SCPA BLOPIT22 UBS AG ZURICH UBSWCHZH UNICREDIT BANK AG (HYPOVEREINSBANK) HYVEDEMM UNICREDIT BANK AUSTRIA AG BKAUATWW UNICREDIT SPA UNCRITMM WESTLB AG WELADEDD

48 EBA CLEARING Shareholders Meeting 26 th May 2010 // Report of the Board Direct Participants in STEP2 SDD CORE (as of 31 st May 2010)

NAME BIC ABN AMRO BANK NV ABNANL2A ALPHA BANK CRBAGRAA S.P.A CRGEITGG BANCA D’ ITALIA BITAITRA BANCA MONTE DEI PASCHI DI SIENA SPA PASCITMM BANCA NAZIONALE DEL LAVORO BNLIITRR BANCA PADOVANA CREDITO COOPERATIVO PDCCIT2P BANCA POPOLARE DI SONDRIO SCPA POSOIT22 BANCA POPOLARE EMILIA ROMAGNA BPMOIT22 BANCO POPOLARE S.C. BAPPIT22 BANK OF AMERICA NA FRANKFURT BOFADEFX BANK OF SCOTLAND IRELAND BOSIIE2D BGL BNP PARIBAS BGLLLULL CAIXA D ESTALVIS I PENSIONS DE CAIXESBB BARCELONA LA CAIXA CAJA DE AHORROS Y MONTE DE PIEDAD CAHMESMM DE MADRID CASSA CENTRALE BANCA CCRTIT2T CASSA DI RISPARMIO DI PARMA E PIACENZA SPA CRPPIT2P CITIBANK LONDON CITIGB2L COMMERZBANK AG FRANKFURT COBADEFF CREDIT MUTUEL - CIC BANQUES (BFCM) CMCIFRPA CREDITO EMILIANO S.P.A. BACRIT22 DANMARKS NATIONALBANK DKNBDKKK DANSKE BANK AS DABADKKK DE NEDERLANDSCHE BANK NV FLORNL2A DEUTSCHE BANK AG DEUTDEFF DEUTSCHE BUNDESBANK MARKDEFF

49 EBA CLEARING Shareholders Meeting 26 th May 2010 // Report of the Board DEUTSCHE POSTBANK AG PBNKDEFF DEXIA BANK BELGIUM SA GKCCBEBB DZ BANK AG GENODEFF EFG EUROBANK ERGASIAS S.A. EFGBGRAA EMPORIKI BANK OF GREECE SA EMPOGRAA FORTIS BANK NEDERLAND N.V. FTSBNL2R FORTIS BANK SA NV GEBABEBB ICBPI SPA CIPBITMM ING BELGIUM NV-SA BBRUBEBB INTESA SANPAOLO SPA BCITITMM J.P. MORGAN AG CHASDEFX KBC BANK NV KREDBEBB LA POSTE S.A. DE DROIT PUBLIC PCHQBEBB LANDESBANK BADEN-WUERTTEMBERG SOLADEST MARFIN EGNATIA BANK S.A. EGNAGR2T NATIONAL BANK OF GREECE SA ETHNGRAA NATIONAL WESTMINSTER BANK LTD NWBKGB2L OESTERREICHISCHE NATIONALBANK NABAATWW PIRAEUS BANK S.A. PIRBGRAA RAIFFEISEN LANDESBANK SUEDTIROL RZSBIT2B RAIFFEISEN ZENTRALBANK OESTERREICH AG RZBAATWW SECB SWISS EURO CLEARING BANK SECGDEFF SKANDINAVISKA ENSKILDA BANKEN AB ESSESESS SVENSKA HANDELSBANKEN HANDSESS THE ROYAL BANK OF SCOTLAND NV RBOSNL2A THE ROYAL BANK OF SCOTLAND NV RBOSNL2B THE ROYAL BANK OF SCOTLAND PLC RBOSGB2L ULSTER BANK IRELAND LIMITED ULSBIE2D ULSTER BANK LIMITED ULSBGB2B UNICREDIT BANK AG (HYPOVEREINSBANK) HYVEDEMM

50 EBA CLEARING Shareholders Meeting 26 th May 2010 // Report of the Board UNICREDIT BANK AUSTRIA AG BKAUATWW UNICREDIT S.P.A. UNCRITMM WESTLB AG WELADEDD

51 EBA CLEARING Shareholders Meeting 26 th May 2010 // Report of the Board Direct Participants in STEP2 SDD B2B (as of 31 st May 2010)

NAME BIC ALPHA BANK CRBAGRAA BANCA CARIGE S.P.A. CRGEITGG BANCA D’ITALIA BITAITRA BANCA MONTE DEI PASCHI DI SIENA SPA PASCITMM BANCA PADOVANA CREDITO COOPERATIVO PDCCIT2P BANCA POPOLARE DI SONDRIO SCPA POSOIT22 BANCA POPOLARE EMILIA ROMAGNA BPMOIT22 BANCO POPOLARE S.C. BAPPIT22 BANK OF AMERICA NA FRANKFURT BOFADEFX CAIXA D ESTALVIS I PENSIONS DE CAIXESBB BARCELONA LA CAIXA CAJA DE AHORROS Y MONTE DE PIEDAD CAHMESMM DE MADRID CASSA CENTRALE BANCA CCRTIT2T CASSA DI RISPARMIO DI PARMA E PIACENZA SPA CRPPIT2P CITIBANK LONDON CITIGB2L COMMERZBANK AG FRANKFURT COBADEFF CREDIT MUTUEL - CIC BANQUES (BFCM) CMCIFRPA CREDITO EMILIANO S.P.A. BACRIT22 DANMARKS NATIONALBANK DKNBDKKK DANSKE BANK AS DABADKKK DEUTSCHE BANK AG DEUTDEFF DEUTSCHE BUNDESBANK MARKDEFF DEXIA BANK BELGIUM SA GKCCBEBB DZ BANK AG GENODEFF EFG EUROBANK ERGASIAS EFGBGRAA EMPORIKI BANK OF GREECE SA EMPOGRAA FORTIS BANK NEDERLAND N.V. FTSBNL2R FORTIS BANK SA NV GEBABEBB

52 EBA CLEARING Shareholders Meeting 26 th May 2010 // Report of the Board ICBPI SPA CIPBITMM ING BELGIUM NV-SA BBRUBEBB J.P. MORGAN AG CHASDEFX KBC BANK NV KREDBEBB LANDESBANK BADEN-WUERTTEMBERG SOLADEST NATIONAL BANK OF GREECE SA ETHNGRAA OESTERREICHISCHE NATIONALBANK NABAATWW PIRAEUS BANK S.A. PIRBGRAA RAIFFEISEN LANDESBANK SUEDTIROL RZSBIT2B RAIFFEISEN ZENTRALBANK OESTERREICH AG RZBAATWW SVENSKA HANDELSBANKEN HANDSESS UNICREDIT BANK AG (HYPOVEREINSBANK) HYVEDEMM UNICREDIT BANK AUSTRIA AG BKAUATWW UNICREDIT S.P.A. UNCRITMM WESTLB AG WELADEDD

53 EBA CLEARING Shareholders Meeting 26 th May 2010 // Report of the Board APPENDIX 4

Accounts as of 31 st December 2009

The annual accounts for 2009 (and for 2008) are attached separately.

54 EBA CLEARING Shareholders Meeting 26 th May 2010 // Report of the Board Contact details

For any additional information, please contact:

Daniel Szmukler Head of Communications and Corporate Governance [email protected]

ABE CLEARING S.A.S. á capital variable (EBA CLEARING) 4 rue de Galliéra F - 75116 Paris RCS Paris B 419 020 193 No. TVA: FR 524 19020193

The cover illustration was created by students attending Dokter Herman Bekiusschool in Lelystad (Netherlands), a school for the education of children with mental difficulties. Bekiusschool is co-operation partner for the 2010 donation initiative of the EBA Group.