16.1 Other assets: composition

 

31.12.2010

31.12.2009

- Receivables due from IFIS Collection Services

123,397

98,416

- Prepayments and accrued income

8,335

6,173

- Guarantee deposits

283

181

- Tax receivables

635

639

- Other items

3,093

2,054

Total

135,743

107,463

Receivables due from IFIS Collection Services, a company set up specifically for the securitisation operation, arise from the failure to derecognise, in compliance with IAS 39, the revolving securitisation operation undertaken as from October 2008. This amount corresponds to the funds available to the company vehicle arising from the receipts of receivables which have been retransferred and not yet paid to the originator on the basis of the technical characteristics of the operation.

Prepayments and accrued income refer for 6,113 thousand Euro to prepayments of interest on the Fixed Rendimax Savings Account.

The other items refer for 1,368 thousand Euro to receivables from the parent company, La Scogliera S.p.A., following the application of group taxation (tax consolidation) as per article 117 et seq of Presidential Decree no. 917/86 and represent Banca IFIS’s current corporate tax (IRES) receivables for 1,159 thousand Euro and corporate tax (IRES) receivables relating to previous years for 209 thousand Euro. The result in terms of taxable income takes into account offsetting of the tax loss of the parent company in accordance with regulations and to specific agreements between companies of the group.