Roughly half of this shortfall finds its way onto the balance sheet as a liability. gm is allowed to amortize actuarial losses that make up the other half of the unfunded portion.
But that will matter little to Hodgson as he contemplates the solid defending that yielded his side's first clean sheet since August, not to mention the possibility of sealing a top-half finish at Newcastle next weekend.
The balance sheet for the whole Eurosystem (including all the national central banks) shows almost half a trillion euros in capital and revaluation reserves.