29. Reserves

The breakdown of the balance under this heading in the accompanying consolidated balance sheets is as follows:

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Reserves. Breakdown by concepts	Notes	Millions of Euros
		2013	2012	2011
Legal reserve	29.1	534	481	440
Restricted reserve for retired capital	29.2	296	387	495
Reserves for balance revaluations		26	27	28
Voluntary reserves		6,528	6,154	5,854
Total reserves holding company (*)		7,384	7,049	6,817
Consolidation reserves attributed to the Bank and dependents consolidated companies.		12,524	12,623	11,123
Total Reserves		19,908	19,672	17,940

(*) Total reserves of BBVA, S.A. (See Appendix X).

29.1 Legal reserve

Under the amended Corporations Act, 10% of any profit made each year must be transferred to the legal reserve. These provisions must be made until the legal reserve reaches 20% of the share capital; limit that will be reached by the bank once the proposal of allocation of 2013 earnings is approved (see Note 4).

The legal reserve can be used to increase the common stock provided that the remaining reserve balance does not fall below 10% of the increased capital. While it does not exceed 20% of the common stock, it can only be allocated to offset losses exclusively in the case that there are not sufficient reserves available.

29.2 Restricted reserves

As of December 31, 2013, 2012 and 2011, the Bank’s restricted reserves are as follows:

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Restricted Reserves	Millions of Euros
	2013	2012	2011
Restricted reserve for retired capital	88	88	88
Restricted reserve for Parent Company shares and loans for those shares	206	297	405
Restricted reserve for redenomination of capital in euros	2	2	2
Total	296	387	495

The restricted reserve for retired capital originated in the reduction of the nominal par value of the BBVA shares made in April 2000.

The most significant heading corresponds to restricted reserves related to the amount of shares issued by the Bank in its possession at each date, as well as the amount of customer loans outstanding at those dates that were granted for the purchase of, or are secured by, the Bank’s shares.

Finally, pursuant to Law 46/1998 on the Introduction of the Euro, a restricted reserve is recognized as a result of the rounding effect of the redenomination of the Bank’s common stock in euros.

Furthermore, in the individual financial statements for subsidiaries as of December 31, 2013, 2012 and 2011, restricted reserves for a total of €3,132 million, €3,149 million and €2,940 million, respectively, are taken into consideration.

29.3 Reserves (losses) by entity

The breakdown, by company or corporate group, under the heading “Reserves” in the accompanying consolidated balance sheets is as follows:

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Reserves Assigned to the Consolidation Process	Millions of Euros
	2013	2012	2011
Accumulated reserves (losses)
Holding Company (*)	12,112	10,110	7,711
BBVA Bancomer Group	6,275	5,589	5,070
BBVA Seguros, S.A.	1,561	1,447	1,422
BBVA Banco Provincial Group	1,231	906	711
BBVA Chile Group	959	873	670
Corporacion General Financiera, S.A.	605	1,118	677
Anida Grupo Inmobiliario, S.L.	381	375	369
BBVA Continental Group	335	256	217
BBVA Colombia Group	315	79	(38)
BBVA Suiza, S.A.	313	294	269
BBVA Luxinvest, S.A.	263	230	1,231
BBVA Banco Francés Group	242	65	(92)
Bilbao Vizcaya Holding, S.A.	63	51	157
Cidessa Uno S.L	15	30	432
Banco Industrial De Bilbao, S.A.	(4)	35	122
BBVA Ireland Public Limited Company	(4)	(22)	173
Compañía de Cartera e Inversiones, S.A.	(28)	438	540
Compañía Chilena de Inversiones, S.L.	(121)	(164)	(84)
Participaciones Arenal, S.L.	(180)	(180)	(181)
BBVA Propiedad S.A.	(267)	(233)	(194)
BBVA Portugal	(357)	(177)	(188)
Anida Operaciones Singulares, S.L.	(1,224)	(850)	(816)
BBVA USA Bancshares Group	(1,305)	(1,652)	(852)
Real Estate Unnim + Unnim Banc (**)	(1,675)	15	-
Other	(47)	87	254
Subtotal	19,458	18,721	17,580
Reserves (losses) of entities accounted for using the equity method:
Garanti Turkiye Bankasi Group	379	127	-
Citic Group (see Note 3)	124	859	431
Tubos Reunidos, S.A.	53	50	51
Occidental Hoteles Management, S.L.	(93)	(91)	(72)
Other	(13)	6	(50)
Subtotal	450	951	360
Total Reserves	19,908	19,672	17,940

(*) Corresponds to the reserve of the Bank after adjustments made through the consolidation process. (**) Due to the acquisition of Unnim Banc S.A. by BBVA, S.A. in 2012, a positive impact was generated in 2013 from the "Asset Protection Scheme" (EPA) which was recorded in reserves of BBVA, S.A.

For the purpose of allocating the reserves and accumulated losses to the consolidated entities and to the parent company, the transfers of reserves arising from the dividends paid and transactions between these entities are taken into account in the period in which they took place.