996 - Banca Antonveneta

• discount rate. The financial basis used for the actuarial evaluations as at 31 st December 2007 has been developed an the basis ofswap rates with appropriate maturities, as at 27 th December 2007. The rates have been used to discount the short-term paymentsand, for longer terms, the discount rate was estimated by extrapolating the current market rates along the yield curve in question.SPOTRATES28.12.2006 28.12.20071y 4.0220 4.78602yr 4.1175 4.60603yr 4.1125 4.56554yr 4.1230 4.57735yr 4.1200 4.59986yr 4.1260 4.62237yr 4.1365 4.64508yr 4.1505 4.69409yr 4.1665 4.739410yr 4.1880 4.774412yr 4.2210 4.861515yr 4.2735 4.950920yr 4.2970 5.016225yr 4.2955 5.001730yr 4.2755 4.9433• salary levels (applied for the actuarial evaluation of Antonveneta Immobiliare SpA) have been forecasted on two levels:a) a static level, which is dependent upon the remuneration in relation to the increases in length of service, changes inqualifications, etc.;b) a dynamic level, which takes into consideration the changes in remuneration deriving from inflation and productivityincreases.Based on the overall data provided, remuneration levels by qualification(employees, executives and directors) andlength of service with the company were created. For the directors, there is no trend along which a remuneration levelcan be constructed: a rate of increase of 1% was therefore assumed, independently of the length of service. The changein the salary levels involves both compensation for severance indemnities and for the FPLD (Workers’ Pension Fund),using the same rate of increase. For the latter, assumptions regarding the increase in remuneration in real terms weremade (that is, differentiated insofar as the inflation dynamic), of 1%. Furthermore, the probability of moving from theemployee to the executive level was calculated separately by gender and l ength of service.111