1011659--2/28/2008--UNIONBANCAL

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{condition, economic, financial}

{regulation, change, law}

{loss, insurance, financial}

{financial, litigation, operation}

{investment, property, distribution}

{stock, price, share}

{operation, natural, condition}

{system, service, information}

{acquisition, growth, future}

{debt, indebtedness, cash}

{capital, credit, financial}

{personnel, key, retain}

{control, financial, internal}

{product, market, service}

{competitive, industry, competition}

{regulation, government, change}

{tax, income, asset}

The U.S. and global economies have experienced a slowing of economic growth, volatility in the financial markets, and significant deterioration in sectors of the U.S. residential real estate markets, all of which present challenges for the banking and financial services industry and for Union Bank of California Fluctuations in interest rates on loans could adversely affect our business Fluctuations in interest rates on deposits or other funding sources could adversely affect our margin spread Our deposit customers may pursue alternatives to bank deposits or seek higher yielding deposits, causing us to incur increased funding costs Changes in the premiums payable to the Federal Deposit Insurance Corporation will increase our costs and could adversely affect our business The continuing war on terrorism and overseas military conflicts could adversely affect U.S. and global economic conditions Substantial competition could adversely affect us The effects of, changes in or supervisory enforcement of, banking or other laws and regulations or governmental fiscal or monetary policies could adversely affect us Changes in accounting standards could materially impact our financial statements There are an increasing number of non-bank competitors providing financial services Adverse California economic conditions could adversely affect our business Adverse economic factors affecting certain industries we serve could adversely affect our business Higher credit losses could require us to increase our allowance for credit losses through a charge to earnings We are not able to offer all of the financial services and products of a financial holding company Our stockholder votes are controlled by The Bank of Tokyo-Mitsubishi UFJ; our interests and those of our minority stockholders may not be the same as those of The Bank of Tokyo-Mitsubishi UFJ Possible future sales of our shares by The Bank of Tokyo-Mitsubishi UFJ could adversely affect the market for our stock The Bank of Tokyo-Mitsubishi UFJ's and Mitsubishi UFJ Financial Group's financial or regulatory condition could adversely affect our operations Potential conflicts of interest with The Bank of Tokyo-Mitsubishi UFJ could adversely affect us Restrictions on dividends and other distributions could limit amounts payable to us Our ability to make acquisitions is subject to regulatory constraints, and risks associated with potential acquisitions or divestitures or restructurings may adversely affect us Privacy restrictions could adversely affect our business We rely on third parties for important products and services Our business could suffer if we fail to attract and retain skilled personnel Significant legal proceedings could subject us to substantial uninsured liabilities Changes in our tax rates could affect our future results We are subject to operational risks The effects of, changes in or supervisory enforcement of, banking or other laws and regulations or governmental fiscal or monetary policies could adversely affect us." Negative public opinion could damage our reputation and adversely impact our business and revenues Our framework for managing risks may not be effective in mitigating risk and loss to our company Our disclosure controls and procedures may not prevent or detect all errors or acts of fraud

Full 10-K form ▸

1011659--2/28/2008--UNIONBANCAL_CORP