Article 37U.K.Calculation of own funds on a consolidated basis
1.Where the calculation is to be made on a consolidated basis, the consolidated amounts relating to the items listed under Article 34(2) shall be used in accordance with the rules laid down in Articles 52 to 56. Moreover, the following may, when they are credit (‘negative’) items, be regarded as consolidated reserves for the calculation of own funds:
any minority interests within the meaning of Article 21 of Directive 83/349/EEC, where the global integration method is used,
the first consolidation difference within the meaning of Articles 19, 30 and 31 of Directive 83/349/EEC,
the translation differences included in consolidated reserves in accordance with Article 39(6) of Directive 86/635/EEC,
any difference resulting from the inclusion of certain participating interests in accordance with the method prescribed in Article 33 of Directive 83/349/EEC.
2.Where the above are debit (‘positive’) items, they must be deducted in the calculation of consolidated own funds.