I Tyskland udgjordes kernekapital på de forskellige overdragelsestidspunkter, dvs. navnlig i slutningen af 1991, udelukkende af aktiekapital (og reserver jf. § 10, stk. 2 KWG) og passive kapitalindskud.
At the time of the respective transfers, in particular at the end of 1991, only share capital (and reserves within the meaning of Section 10(2) KWG) and silent partnership contributions were recognised as core capital in Germany.