Prospectus UBI Banca Covered Bond Programme

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Prospectus (d) asset backed securities for which a risk weight not exceeding 20 per cent. is applicable in accordance with the Bank of Italy's prudential regulations for Banks — standardised approach — provided that at least 95 per cent. of the relevant securitised assets are: (i) (ii) (iii) residential mortgage loans that have an LTV that does not exceed 80 per cent. and for which the hardening period with respect to the perfection of the relevant mortgage has elapsed; commercial mortgage loans that have an LTV that does not exceed 60 per cent. and for which the hardening period with respect to the perfection of the relevant mortgage has elapsed; receivables or securities satisfying the requirements indicated under item (c) above; provided that the assets described under item (d)(ii) above may not amount to more than 10 per cent. of the aggregate nominal value of the Cover Pool. Eligibility Criteria for Residential Mortgage Loans Under the Master Loans Purchase Agreements, the relevant Sellers and the Guarantor have agreed the following Common Criteria and Specific Criteria (see "Summary of the Transaction Documents — Master Loans Purchase Agreements" above) that will be applied in selecting the Residential Mortgage Loans that will be transferred thereunder to the Guarantor. Common Criteria Receivables arising from loans: • which are residential mortgage receivables, in respect of which the relevant principal amount outstanding added to the principal amount outstanding of any higher ranking mortgage loans secured by the same property, does not exceed 80 per cent of the value of the property, in accordance with Decree 310; • in respect of which the hardening period (periodo di consolidamento) applicable to the relevant mortgage has elapsed and the relevant mortgage is not capable of being challenged pursuant to Article 67 of the Bankruptcy Law and, if applicable, of article 39, fourth paragraph of the Consolidated Banking Act; • loans granted by the relevant Seller; • which are governed by Italian law; • which are performing and in respect of which no instalments are due but not paid since more than one day from the relevant payment date; • which do not include any clauses limiting the possibility for the relevant Seller to assign the receivables arising thereunder or providing the Debtor's consent for such assignment and the relevant Seller has obtained such consent; • in respect of which at least one instalment has been paid by the Debtor prior to 1 July 2008; • which provide for the payment by the Debtor of monthly, quarterly or semi-annual instalments; • which provide for all payments due by the Debtor thereunder to be made in Euro; • which are fully disbursed; • which have not been granted to employees of any company of the UBI Banca Group; • which have been granted to one or more individuals (persone fisiche o cointestatari); • which did not provide at the time of disbursement for any subsidy or other benefit in relation to principal or interest (mutui agevolati); - 184 -
Prospectus • the payment of which is secured by a first ranking mortgage (ipoteca di primo grado economico), such term meaning (i) a first ranking mortgage or (ii) (A) a second or subsequent ranking priority mortgage in respect of which the lender secured by the first ranking priority mortgage is the relevant Seller and with respect to which the obligations secured by the mortgage(s) ranking prior to such second or subsequent mortgage have been fully satisfied, or (B) a second or subsequent ranking priority mortgage in respect of which the lender secured by the mortgage(s) ranking prior to such second or subsequent mortgage is the relevant Seller (even if the obligations secured by such ranking priority mortgage(s) have not been fully satisfied) and the receivables secured by such priority mortgages arise from loans meeting the Common Criteria. Specific Criteria with respect to the Initial Portfolio Receivables arising from loans: • which provide for the payment by the Debtor of a floating interest rate determined from time to time by the relevant Seller; • which have been disbursed in full not later than 31 December 2007; • which do not provide for reimbursement in full on a date falling before 31 December 2008; • in respect of which the outstanding principal is greater than Euro10,000.00, save for the case in which the mortgage securing the relevant receivable also secures other receivables against the same debtor and satisfy these criteria • in respect of which the ratio between the value of the registration (iscrizione ipotecaria) of the relevant mortgage is not higher than five times the amount disbursed to the debtor pursuant to the relevant Mortgage Loan Agreement; • which do not provide for a floating interest rate without margin or increase; and • which are not loans identified by any of the following product codes, as reported in the relevant paper, summary sheet or annual summary sheet: "116", "117", "251", "981", "985" and "986". - 185 -
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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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Prospectus 5. [Fixed Rate Covered B
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Prospectus USE OF PROCEEDS The net
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Prospectus Calabria, Vibo Valentia,
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Prospectus (ix) a banking network o
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Prospectus The actual Supervisory B
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Prospectus Name Position Principal
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Prospectus The Supervisory Board al
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Prospectus General Management Name
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Prospectus approvals from CONSOB an
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Prospectus (thousands of Euro) UNIO
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Prospectus (thousands of Euro) UNIO
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Prospectus Defaulted and problem lo
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Prospectus Introduction THE GUARANT
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Prospectus Banca Popolare di Bergam
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Prospectus ( * ) Member of Executiv
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Prospectus Figures in thousands of
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Prospectus Name Franco Bossoni( * )
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Prospectus (In thousands of Euro) 3
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Prospectus of the bank. In accordan
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Prospectus (In thousands of Euro) 3
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 139 and 140: Prospectus (In thousands of Euro) 3
Page 141 and 142: Prospectus Funding Banca Carime's p
Page 145 and 146: Prospectus Funding Banca di Valle C
Page 149 and 150: Prospectus Direct funding from cust
Page 153 and 154: Prospectus Direct funding from cust
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
Page 163 and 164: Prospectus Master Servicer shall al
Page 165 and 166: Prospectus receive instructions fro
Page 167 and 168: Prospectus notice substantially in
Page 169 and 170: Prospectus price reasonably availab
Page 171 and 172: Prospectus Rating Downgrade Event U
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
Page 179 and 180: Prospectus "Z" stands for the weigh
Page 181 and 182: Prospectus Pre-Issuer Event of Defa
Page 183: Prospectus (f) (g) (h) (i) Sixth, t
Page 187 and 188: Prospectus DESCRIPTION OF CERTAIN R
Page 189 and 190: Prospectus The issuing bank The Ban
Page 191 and 192: Prospectus and the Covered Bond Gua
Page 193 and 194: Prospectus Finally the Prepayment P
Page 195 and 196: Prospectus authorised intermediary,
Page 197 and 198: Prospectus Where an Italian residen
Page 199 and 200: Prospectus terminate at the end of
Page 201 and 202: Prospectus and (3) an annual net tu
Page 203 and 204: Prospectus Listing and Admission to
Page 205 and 206: Prospectus GLOSSARY "Accounts" mean
Page 207 and 208: Prospectus "Commercial Mortgage Loa
Page 209 and 210: Prospectus guarantee) by an entity
Page 211 and 212: Prospectus "Initial Portfolio" mean
Page 213 and 214: Prospectus "Luxembourg BdB Interest
Page 215 and 216: Prospectus "Post-Enforcement Priori
Page 217 and 218: Prospectus "Representative of the C
Page 219 and 220: Prospectus "Transfer Date" means: (
Page 221: Prospectus PRINCIPAL PAYING AGENT T
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Prospectus UBI Banca Covered Bond Programme

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