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1)
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The management rates described in this Annex shall apply to the inventory of :
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a)
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pension obligations, cf. § 51, and
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b)
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committed commitments, cf. § 58.
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2)
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Where the obligations are in a currency other than Danish kroner, the rate of dilation rates laid down by the corresponding principles as described in this Annex shall be used. If the total amount of the commitments relating to amounts in the second currency does not exceed 10%. in the balance sheet, however, the Danish krone dilation rates may be used.
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3)
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The rate applicable for each payment schedule applicable to the reduction of obligations in Danish kroner shall be determined by a curve to be constructed from the following :
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a)
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In the segment of 0 to 2 years, the interest rates shall be used to interest rates of interest rate adjustment which are included in the Nycredit Realm index. The interest is weighted just like in Nycredit RealCredit index, with the nominal quantity from the latest conversion day of Nycredit Realcredit index.
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b)
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In the segment of two years to seven years, the rates for linear interpolation between the two-year interest rate are calculated, cf. (a) and the seven-year interest rate, cf. (c)
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c)
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In the segment of 7 years to 20 years, the euro swapping (s) shall be used with an addition to :
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1)
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The average of the last 250 days of sightings between the Danish and German state purse interest rates in the 10-year-old point, however, cannot be negative, and
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2)
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half of the recalibrated voltage between Danish mortgage bonds and the Danish swapkurve (OAS swap). The Amendment could not be negative.
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d)
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In the segment over 20 years, the rates shall be calculated using the extrapolation method of the Smith-Wilson extrapolation method, based on the curve from 0 to 20 years as determined under (a-c). The following parameters are used for the calculation :
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1)
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"Ultimate forward rate" (UFR) = 4,2 pct., and
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2)
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' alpha `, which shall determine the rate at which the rate of interest converts against UFR is determined as the basis for 0,1, but so that alpha is increased by a iterative process by 0,01, until the value implies that the forward line in the 30-year-old option is not more than 3 ; Bp. from the UFR.
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4)
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Pension funds that use a maturity rate-based rate of maturity shall apply the rate in the 10-year-old point determined by the rules in point. 3.
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5)
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In the case of undertakings covered by pension taxation, the rates of tax reduction shall be reduced by the tax rate applied by the Pension Taxation Act. For other commitments, discounting rates are applied without a reduction in the rate of tax rates.
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6)
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The GL website will be published on a daily basis (working days) collected alpha and discs from and by 12. June 2012 calculated according to the principles set out in the act. 3. The conversion rates for other maturity times other than those published in the table are calculated by linear interpolation. ` ;
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