Prospectus UBI Banca Covered Bond Programme

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Prospectus Piazza della Repubblica 2, and its principal objects, as set out in Article 4 of its by-Laws, are deposit-taking and the carrying-out of all forms of lending activities. Its aim is to generate value for shareholders and to promote activities for moral and economic improvement. For such purposes, it may, subject to compliance with legislation in force and obtaining the required authorisations and the approval from the supervisory authority, perform any transactions or banking services, together with any other activity incidental to or in any way connected with the achievement of its corporate objects, including the issue of bonds. Areas of activity – general Banca di Valle Camonica is one of the nine network banks of the UBI Group and carries on its business by maintaining a close relationship with its customers in the territory where it operates. The bank is present in Lombardy and has a distinctive capability in understanding and serving the requirements of the local economy in that area. It carries on its business with the support and services provided directly or indirectly through its subsidiaries by its parent company, UBI Banca, and offers and sells products and services developed at parent bank level. It has a sales model divided up according to market segment: Retail (predominant activity of the Bank), Corporate and Private. Because of the wide range of product companies within the UBI Group, Banca di Valle Camonica is able to offer services and products which are both customised and evolved over time, and which are aimed at satisfying the needs of different kinds of customers. Lending The following table shows the lending of Banca di Valle Camonica as at 31 December 2008 and 2007, broken down according to the type of loan. Types of loans 31.12.2008 % 31.12.2007 % Current accounts ..................................................................................................... 392,641 21,85 326,856 19.78 Mortgage loans and other medium to long-term financing...................................... 1,113,231 61,96 1,023,648 61.95 Credit cards, personal loans and salary-backed loans.............................................. 20,099 1,12 30,044 1.82 Other transactions ................................................................................................... 239.816 13,35 250,975 15.19 Impaired assets........................................................................................................ 30.800 1,71 20,854 1.26 TOTAL .................................................................................................................. 1.796.587 100,00 1,652,377 100.00 Residential mortgages represent approx. 30.7 per cent. of the item "Mortgage loans and other medium to long-term financing". Defaulted and problem loans The following table shows a breakdown of Banca di Valle Camonica's defaulted and problem loans as at 31 December 2008 and 2007. Loans to customers as at 31 December 2008 (In thousand Euro) Gross exposure % Total net impairment losses Net exposure % Deteriorated loans............................................................................... 46,874 2.58 (16,074) 30,800 1.71 Non-performing loans........................................................................... 23,825 1.31 (11,377) 12,448 0.69 Impaired loans ...................................................................................... 17,466 0.96 (4,259) 13,207 0.74 Restructured loans................................................................................. — 0.00 — — 0.00 Past due loans ....................................................................................... 5,583 0.31 (438) 5,145 0.29 Performing loans................................................................................. 1,771,811 97.42 (6,024) 1,765,787 98.29 TOTAL ................................................................................................ 1,818,685 100.00 (22,098) 1,796,587 100.00 Loans to customers as at 31 December 2007 (In thousand Euro) Gross exposure % Total net impairment losses Net exposure % Deteriorated loans............................................................................... 35,342 2.11 (14,488) 20,854 1.26 Non-performing loans........................................................................... 22,645 1.36 (10,969) 11,676 0.71 Impaired loans ...................................................................................... 11,746 0.70 (3,417) 8,329 0.50 Restructured loans................................................................................. — 0.00 — — 0.00 Past due loans ....................................................................................... 951 0.06 (102) 849 0.05 Performing loans................................................................................. 1,635,868 97.89 (4,345) 1,631,523 98.74 TOTAL ................................................................................................ 1,671,210 100.00 (18,833) 1,652,377 100.00 - 144 -
Prospectus Funding Banca di Valle Camonica's principal sources of funding are as follows: Direct funding from customers Figures in thousands of Euro 31.12.2008 % 31.12.2007 % Due to customers .................................................................................................... 1,205,266 58,17 1,009,957 69.52 Securities in issue.................................................................................................... 866,850 41,83 442,849 30.48 TOTAL .................................................................................................................. 2,072,116 100,00 1,452,805 100.00 Detail of Amounts due to customers 31.12.2008 % 31.12.2007 % Current accounts and deposits................................................................................. 860,717 71.41 768,062 76.05 Time deposits.......................................................................................................... 3,475 0.29 3,123 0.31 Financing ................................................................................................................ 336,347 27.91 230,627 22.84 Financial leasing ..................................................................................................... 1,526 0.13 1,561 0.15 Other....................................................................................................................... 334,821 27.78 229,066 22.68 Other payables ........................................................................................................ 4,727 0.39 8,145 0.81 TOTAL .................................................................................................................. 1,205,266 100.00 1,009,957 100.00 Management Banca di Valle Camonica is managed by the Board of Directors, appointed by the General Meeting of Shareholders. The Board of Directors appoints the General Manager, who manages the day-to-day operations of the bank. In accordance with the by-Laws of Banca di Valle Camonica, the Board of Directors has also set up an Executive Committee, to which it has delegated certain powers. In addition, Banca di Valle Camonica is required to have a Board of Statutory Auditors, who verify that the company complies with applicable laws and its by-Laws, and the principles of correct administration, and that it maintains an adequate organisational structure, internal controls and administrative and accounting systems. Board of Directors The Board of Directors of Banca di Valle Camonica consists of between five and nine members and is currently composed of the following persons: Name Gianfranco Maiolini( * )................................................................................................................................. Martino Gregorini( * ) .................................................................................................................................... Massimo Ghetti( * )........................................................................................................................................ Mario Nolli .................................................................................................................................................. Ruggero Brunori( * ) ...................................................................................................................................... Giuseppe Camadini...................................................................................................................................... Bruno Degrandi( * )........................................................................................................................................ Giovanmaria Rizzi ....................................................................................................................................... Enrico Minelli.............................................................................................................................................. ___________________ ( * ) Member of Executive Committee. Position Chairman Deputy Chairman Secretary Director Director Director Director Director Director Director The present Board of Directors has been appointed for a term of office expiring at the shareholders' meeting convened to approve the annual financial statements of Banca di Valle Camonica as at and for the year ending 31 December 2010. Board of Statutory Auditors The following table sets out the current members of the Board of Statutory Auditors. Name Giovanni Maria Seccamani Mazzoli ............................................................................................................ Angelo Roberto Farisoglio........................................................................................................................... Francesco Landriscina ................................................................................................................................. Benedetto Gaioni ......................................................................................................................................... Ilenia Monchieri........................................................................................................................................... Position Chairman Acting Auditor Acting Auditor Alternate Auditor Alternate Auditor - 145 -
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Prospectus UNIONE DI BANCHE ITALIAN
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Prospectus Figures included in this
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Prospectus INFORMATION INCORPORATED
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Prospectus SUPPLEMENTS, FINAL TERMS
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Prospectus Structure Overview • P
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Prospectus on any Interest Payment
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Prospectus the Conditions and the D
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Prospectus deferral will occur auto
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Prospectus AAA Aaa AAA Governing La
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Prospectus Guarantee in respect of
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Prospectus of each individual Cover
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Prospectus Securitisation and Cover
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Prospectus securities. Generally, t
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Prospectus Catastrophic events, ter
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Prospectus Reliance on Swap Provide
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Prospectus There is no guarantee th
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Prospectus • the right to request
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Prospectus (e) Monte Titoli Mandate
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Prospectus "Calculation Agent" mean
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Prospectus "D 1 " is the first cale
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Prospectus (ii) (iii) (iv) (v) an a
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Prospectus "Optional Redemption Dat
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Prospectus "Relevant Dealer(s) " me
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Prospectus 4. Status and Guarantee
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Prospectus (d) ISDA Determination I
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Prospectus (b) Extension of maturit
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Prospectus Bondholder. Once deposit
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Prospectus withheld or assessed by
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Prospectus (v) Invalidity of the Co
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Prospectus all respects except for
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Prospectus 1. GENERAL RULES OF THE
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Prospectus "Voter" means, in relati
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Prospectus 5. VALIDITY OF BLOCK VOT
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Prospectus where applicable, modifi
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Prospectus 15.2 The Chairman and a
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Prospectus Removal and Remuneration
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Prospectus TITLE III THE REPRESENTA
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Prospectus 28.6 Discretions Save as
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Prospectus 29.2.16 shall not, if in
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Prospectus 30.7 Certificates of Par
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Prospectus 32.5 Notice of waiver If
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Prospectus FORM OF FINAL TERMS Set
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Prospectus [Instalment] [The Covere
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Prospectus (xv) Fall back provision
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Prospectus (i) Optional Redemption
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Prospectus These Final Terms compri
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Page 95 and 96: Prospectus USE OF PROCEEDS The net
Page 97 and 98: Prospectus Calabria, Vibo Valentia,
Page 99 and 100: Prospectus (ix) a banking network o
Page 101 and 102: Prospectus The actual Supervisory B
Page 103 and 104: Prospectus Name Position Principal
Page 105 and 106: Prospectus The Supervisory Board al
Page 107 and 108: Prospectus General Management Name
Page 109 and 110: Prospectus approvals from CONSOB an
Page 111 and 112: Prospectus (thousands of Euro) UNIO
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Page 115 and 116: Prospectus Defaulted and problem lo
Page 117 and 118: Prospectus Introduction THE GUARANT
Page 119 and 120: Prospectus Banca Popolare di Bergam
Page 121 and 122: Prospectus ( * ) Member of Executiv
Page 123 and 124: Prospectus Figures in thousands of
Page 125 and 126: Prospectus Name Franco Bossoni( * )
Page 127 and 128: Prospectus (In thousands of Euro) 3
Page 129 and 130: Prospectus of the bank. In accordan
Page 133 and 134: Prospectus Management Banca Regiona
Page 135 and 136: Prospectus INCOME STATEMENT (In tho
Page 137 and 138: Prospectus Detail of amounts due to
Page 141 and 142: Prospectus Funding Banca Carime's p
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Page 149 and 150: Prospectus Direct funding from cust
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Page 157 and 158: Prospectus Loans to customers as at
Page 159 and 160: Prospectus Covered Bond Guarantee S
Page 161 and 162: Prospectus Master Loans Purchase Ag
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Page 169 and 170: Prospectus price reasonably availab
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Page 173 and 174: Prospectus in the name and on behal
Page 175 and 176: Prospectus CREDIT STRUCTURE The Cov
Page 177 and 178: Prospectus "Z" stands for the weigh
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Page 185 and 186: Prospectus • the payment of which
Page 187 and 188: Prospectus DESCRIPTION OF CERTAIN R
Page 189 and 190: Prospectus The issuing bank The Ban
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Prospectus authorised intermediary,
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Prospectus Where an Italian residen
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Prospectus terminate at the end of
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Prospectus and (3) an annual net tu
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Prospectus Listing and Admission to
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Prospectus GLOSSARY "Accounts" mean
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Prospectus "Commercial Mortgage Loa
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Prospectus guarantee) by an entity
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Prospectus "Initial Portfolio" mean
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Prospectus "Luxembourg BdB Interest
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Prospectus "Post-Enforcement Priori
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Prospectus "Representative of the C
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Prospectus "Transfer Date" means: (
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Prospectus PRINCIPAL PAYING AGENT T
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Prospectus UBI Banca Covered Bond Programme

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