UBS Group AG provided earnings guidance for the first quarter and tax rate guidance for the year 2018. For the quarter, the outflows from fourth quarter are likely to have a slight dampening effect on recurring net fee income. The company also announced measures to support the long-term stability of Swiss pension fund, including payment of up to CHF 720 million in 3 installments from 2020 to 2022, which will reduce fully applied CET1 capital in each of those years, with no impact on P&L. Short term, these measures will result in a PBT gain of around CHF 225 million in first quarter of 2018. For 2018, The company expects the full year tax rate of around 25%, excluding any effects from revaluing DTAs.