Chart 4 Wholesale Capital Charges With "Smoothed" EL
Year EL:Smoothed LGD=30% LGD=50%
2000 0.52% 4.10% 5.79%
1999 0.39% 3.76% 5.22%
1998 0.31% 3.46% 4.72%
1997 0.35% 3.62% 4.99%
1996 0.49% 4.02% 5.66%
1995 0.72% 4.50% 6.46%
1994 1.00% 4.94% 7.13%
1993 1.25% 5.28% 7.58%
1992 1.43% 5.52% 7.88%
1991 1.56% 5.68% 8.07%
1990 1.63% 5.77% 8.18%
1989 1.62% 5.75% 8.16%
1988 1.50% 5.61% 7.99%