4.1 Available for sale financial assets: breakdown

Type/Amounts

31.12.2010

31.12.2009

Level 1

Level 2

Level 3

Level 1

Level 2

Level 3

1. Debt securities

748,171

39,197

17,671

5,959

378,635

-

1.1 Structured

 

 

757

 

 

-

1.2 Others

748,171

39,197

16,914

5,959

378,635

-

2. Equity instruments

-

475

12,993

-

475

2,636

2.1 At fair value

 

475

12,993

 

475

2,636

2.2 At cost

 

 

 

 

 

 

3. O.E.I.C. units

-

-

-

-

-

-

4. Loans

-

-

-

-

-

-

Total

748,171

39,672

30,664

5,959

379,110

2,636

“Other debt securities” refers to bonds, especially banking bonds, which are high quality, variable rate and short term, as well as Italian short-term, fixed-rate State bonds.

These securitises have been used for short/very short-term repurchase agreement transactions with banks, on the MTS platform, or on Eurosystem, or for transactions on the Collateralised Interbank Market (MIC).

Equity instruments refers to minority equity investments considered to be of strategic importance for the Bank.

4.2 Available for sale financial assets: breakdown by debtor/issuer

Type/Amounts

31.12.2010

31.12.2009

1. Debt sescurities

805,039

384,594

a) Governments and Central banks

525,529

5,959

b) Other public entities

 

 

c) Banks

241,813

378,635

d) Other issuers

37,697

-

2. Equity instruments

13,468

3,111

Banks

9,997

1,232

b) Other issuers

3,471

1,879

- insurance companies

 

 

- financial institutions

1,593

2

- non-financial companies

1,878

1,877

- others

 

 

3. O.E.I.C. units

-

-

4. Loans

-

-

a) Governments and Central banks

 

 

b) Other public entities

 

 

c) Banks

 

 

d) Other issuers

 

 

Total

818,507

387,705

4.4 Available for sale financial assets: annual changes

 

Debt securities

Equity instruments

O.E.I.C. units

Loans

31.12.2010

A. Opening balance

384,594

3,111

-

-

387,705

B. Increases

935,535

10,592

-

-

946,127

B1. Purchases

921,768

10,592

-

-

932,360

B2. Fair value gains

759

-

-

-

759

B3. Reversal on impairment losses

-

-

-

-

-

- through profit or loss

 

X

 

 

-

- equity-accounted

 

 

 

 

-

B4. Transfers from other portfolios

-

 

-

-

-

B5. Other changes

13,008

-

-

-

13,008

C. Reductions

(515,090)

(235)

-

-

(515,325)

C1. Sales

(235,744)

-

-

-

(235,744)

C2. Redemptions

(263,400)

 

-

-

(263,400)

C3. Fair value losses

(9,733)

 

-

-

(9,733)

C4. Impairment losses

-

(235)

-

-

(235)

- through profit or loss

 

(235)

 

 

(235)

- equity-accounted

 

 

 

 

-

C5. Transfers to other portfolios

 

 

-

-

-

C6. Other changes

(6,213)

 

-

-

(6,213)

D. Closing balance

805,039

13,468

-

-

818,507

As regards debt securities, the other changes under increases refer to the interest and gains realised on the sale of these securities respectively for 12,331 thousand Euro and 677 thousand Euro; the other changes under reductions refer for 6,031 thousand Euro to coupons received and 182 thousand Euro to losses on sales.

As regards equity instruments, purchases refer for 9,000 thousand Euro to a minority equity investment in Banca Popolare di Vicenza following a commercial agreement to distribute Banca IFIS’ factoring products and services; they also refer for 1,592 thousand Euro to the purchase of a minority equity investment in the newly established company India Factoring and Finance Solutions Private Limited, which is based in Mumbai in India, and which proposes to offer factoring, forfaiting and other trade finance products, especially in the small and medium size enterprise sector.

The fair value gains and losses refer to the valuation of securities with a balancing entry in equity.