A novel method for self-consistent electronic structure calculations f
or correlated metals is presented. This approach takes into account on
-site Coulomb repulsion among localized electrons and is based on the
slave boson formalism. The proposed method was applied to the study of
the electronic structure of YBa2Cu3O7: the on-site Coulomb repulsion
of Cu 3d electrons gives origin to a flat band at the Fermi level, as
observed in experiments. A sharp Van Hove singularity has been found 2
5 meV below the Fermi energy.