`svn co` creates files with wrong permissions

`svn co` (and `svn up`) creates files with wrong permissions. This problem
doesn't occur with Subversion 1.6.x_at_HEAD, so it's a regression in trunk.
I use Subversion trunk_at_40332.

$ LC_ALL=C ~/subversion-wrong_permissions.sh
+ umask 0022
+ umask
0022
+ rm -fr repo wc1 wc2
+ svnadmin create repo
++ pwd
+ svn co file:///tmp/repo wc1
Checked out revision 0.
+ pushd wc1
+ touch file
+ svn add file
A file
+ svn ci -m ''
Adding file
Transmitting file data .
Committed revision 1.
+ popd
++ pwd
+ svn co file:///tmp/repo wc2
A wc2/file
Checked out revision 1.
+ ls -l --time-style=+%Y-%m-%d-%H-%M-%S wc1 wc2
wc1:
total 0
-rw-r--r-- 1 Arfrever Arfrever 0 2009-11-01-02-29-31 file

wc2:
total 0
-rw------- 1 Arfrever Arfrever 0 2009-11-01-02-29-32 file

-- 
Arfrever Frehtes Taifersar Arahesis