Annual Accounts and Report as at 30 June 2011 Draft - Mediobanca

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1. General aspectsThe Bank’s internal system for managing, evaluating and controlling creditrisk reflects its traditional policy based on a prudent and highly selectiveapproach. Lending decisions are based on individual analysis, which builds onadequate and often extensive knowledge of the borrower’s business, assets andmanagement, as well as the macro-economic framework in which it operates.Where possible, covenants are incorporated into the terms and conditions of theloan (having regard inter alia to the maturity and average size of the facilitiesconcerned) in order to provide for protection against impairment. Applications forfinance are processed through the different operating levels, and, if successful,are submitted for approval to the relevant bodies, i.e. the Risks Committee andExecutive Committee, depending on the amount required and the credit rating ofthe counterparty involved, including both internal and external ratings. Once thefinance has been disbursed the account is monitored on an ongoing basis, viaanalysis of published financial statements and a series of other controls to ensurethat the covenants have not been breached. Any deterioration in the risk profile ofa loan is brought swiftly to the attention of head of the operating unit andmanagement.360 –
QUANTITATIVE INFORMATIONA.A. CREDIT QUALITYA.1 Impaired and performing accounts: amounts, value adjustments, trends, segmentation byperformance and geographyA.1.1 Financial assets by portfolio/credit quality (book value)Portfolio/qualityNon-performingPotentialproblemRestructured Overdue Other assets Total1. Financial assets heldfor trading — — — — 10,643,226 10,643,2262. AFS securities — — 234,778 — 4,818,732 5,053,5103. Financial assets heldto maturity — — 1,806 — 1,641,078 1,642,8844. Due from banks 127 — — — 9,821,497 9,821,6245. Due from customers — 12,968 114,358 — 27,283,645 27,410,9716. Financial assetsrecognized at fair value — — — — — —7. Financial assets beingsold — — — — — —8. Hedging derivatives — — — — 1,386,423 1,386,423Total at 30/6/11 127 12,968 350,942 — 55,594,601 55,958,638Total at 30/6/10 127 3,699 113,196 — 54,496,371 54,613,393– 361
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DraftAnnual Accounts and Reportas a
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C O N T E N T SConsolidated Account
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Page no.* * *Extraordinary business
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CONSOLIDATED ACCOUNTS
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— Retail and private banking (RPB
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DEVELOPMENTS IN CAPITAL MARKETSIn t
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comparing total assets with tangibl
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The market capitalization of listed
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RESTATED BALANCE SHEET30/6/10 30/6/
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30 June 2010Corporate &InvestmentBa
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Impaired assets (i.e. non-performin
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upward adjustments to reflect amort
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An updated list of the properties o
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12 mths to 30/6/10 12 mths to 30/6/
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Corporate and Investment Banking30
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This division reported a net profit
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Equity investments and AFS shares
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Mediobanca International (Luxembour
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Principal investing12 mths to 30/6/
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Retail and private bankingb12 mths
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A breakdown of this division’s re
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New loans for the twelve months tot
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Private banking30 June 2010CMB Banc
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transmission, investment advice and
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OTHER INFORMATIONRelated party disc
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Reconciliation of shareholders’ e
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AUDITORS’ REPORT
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CONSOLIDATED FINANCIAL STATEMENTS
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Liabilities and net equity30/6/11 3
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CONSOLIDATED COMPREHENSIVE PROFIT A
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STATEMENT OF CHANGES TO NET EQUITY
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RECONCILIATION OF MOVEMENTS IN CASH
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Page no.Part C -Notes to consolidat
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Sectction 3Area and methods of cons
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Section 4Significant accounting pol
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Assets are tested for impairment at
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HedgesThere are two types of hedge:
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and its related value of use, and a
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Staff severance indemnity provision
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Dividends and commissionsThese are
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A.3.2Fair value rankingA.3.2.1 Asse
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A.3.2.3 Annual changes in financial
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Section 2Heading 20: Financial asse
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2.3 Financial assets held for tradi
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4.3 AFS securities: assets subject
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5.2 Assets held to maturity: by bor
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Section 7Heading 70: Due from custo
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Section 8Heading 80: Hedging deriva
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Section 10Heading 100: Equity inves
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The book value of the investment in
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Section 12Heading 120: Property, pl
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12.4 Tangible assets held for inves
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13.2 Intangible assets: movements d
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14.4 Changes in deferred tax during
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14.6 Changes in deferred tax during
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LiabilitiesSection 1Heading 10: Due
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Section 3Heading 30: Debt securitie
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Section 6Heading 60: Hedging deriva
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Section 11Heading 110: Staff severa
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Section 13Heading 130: Technical re
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Section 16Heading 210: Net equity a
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PART C - NOTES TO CONSOLIDATEDPROFI
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Section 2Headings 40 and 50: Net fe
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Section 4Heading 80: Net trading in
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Section 6Heading 100: Gains (losses
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8.3 Adjustments for impairment to f
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Section 10Heading 160: Income less
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Section 11Heading 180: Administrati
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Section 12Heading 190: 1Net transfe
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Section 16Heading 240: Gains (losse
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20.2 Reconciliation between theoret
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PART D - CONSOLIDATED COMPREHENSIVE
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Corporate banking (Mediobanca)The G
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QUANTITATIVE INFORMATIONCREDIT QUAL
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A.1.2.a Exposures to sovereign debt
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A.1.5Cash exposures to banks: trend
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A.1.8Banking Group - cash exposures
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A.3 Secured exposures by type of se
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B. Loan distribution and concentrat
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B.3 Banking Group - cash and off-ba
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C. Securitizations and asset dispos
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Quantitative informationC.1.1Bankin
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C.1.4Banking Group - exposures to s
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C.1.7Banking Group - servicing: col
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Under the terms of the sale contrac
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C.2.2Banking Group - financial liab
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QUANTITATIVE INFORMATIONThis year h
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Table 2: Value at risk and expected
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QUANTITATIVE INFORMATION1. Regulato
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Currency of denomination: OTHERType
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1.2.2 INTEREST RATE RISK AND PRICE
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the Bank’s various bodies was app
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Currency of denomination: US DOLLAR
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2. Regulatory trading book: cash ex
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QUANTITATIVE INFORMATION1. Assets,
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A.2.A.2.1Banking book: average and
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A.3 OTC financial derivatives: posi
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A.5 OTC financial derivatives: trad
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A.7 OTC financial derivatives: bank
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A.9 OTC financial derivatives by ma
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B.2 OTC credit derivatives: gross p
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1.3 BANKING GROUP: LIQUIDITY RISKQU
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1.4 BANKING GROUP - OPERATING RISKQ
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PART F - INFORMATION ON CONSOLIDATE
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B.3 AFS valuation reserves: movemen
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2.2 Regulatory capital requirements
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B. Quantitative informainformationC
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credit as to €3.6m and credit car
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Situation at 30 June 2011Directors,
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Subsequent to the reporting date, o
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PART L - SEGMENT REPORTINGA. PRIMAR
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B. SECONDARY SEGMENT REPORTINGB.1 P
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ANNUALGENERALMEETING28 OCTOBER 2011
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Ordinary businessACCOUNTS OF THE BA
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Provisions for financial assets inc
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RESTATED BALANCE SHEET 30/6/10 30/6
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Loans and advances to Group compani
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Cash and bank balances include €1
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current prices). Further explanatio
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— Furniture and intangible assets
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Net fee and commission incomeThis h
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— the court of appeals in Milan h
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esearch project on medium-sized Eur
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Declaration in respect of individua
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STATUTORY AUDIT COMMITTEE’S REPOR
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vii)Finance Act, in the course of w
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Type of serviceRecontaErnst & Young
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The Statutory Audit Committee ascer
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AUDITORS’ REPORT
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INDIVIDUAL FINANCIAL STATEMENTS *(*
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Liabilities and net equity30/6/11 3
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COMPREHENSIVE PROFIT AND LOSS ACCOU
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STATEMENT OF CHANGES TO MEDIOBANCA
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RECONCILIATION OF MOVEMENTS IN CASH
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Page no.Part C - Notes to profit an
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Section 3Significant accounting pol
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Assets are tested for impairment at
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- cash flow hedges, which are inten
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Goodwill may be recognized where th
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All actuarial profits and/or losses
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Related parties (IAS 24)In accordan
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A.3.2A.3.2.1Fair value rankingAsset
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A.3.2.3 Annual changes in financial
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Section 2Heading 20: Financial asse
Page 296 and 297: 2.3 Financial assets held for tradi
Page 298 and 299: 4.4 AFS securities: movements durin
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Page 302 and 303: 7.2 Due from customers: by borrower
Page 304 and 305: Section 10Heading 100: Equity inves
Page 306 and 307: Significant data 1Total assetsTotal
Page 308 and 309: Section 11Heading 110: Property pla
Page 310 and 311: 11.4 Tangible assets held for inves
Page 312 and 313: 12.2 Core intangible assets: moveme
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Page 316 and 317: Section 15Heading 150: Other assets
Page 318 and 319: Section 3Heading 30: Debt securitie
Page 320 and 321: Section 6Heading 60: Hedging deriva
Page 322 and 323: Section 11Heading 110: Staff severa
Page 324 and 325: 14.2 Share capital: changes in no.
Page 326 and 327: Other information1. Guarantees and
Page 328 and 329: PART C - NOTES TO PROFIT AND LOSS A
Page 330 and 331: Section 2Headings 40 and 50: Net fe
Page 332 and 333: Section 3Heading 70: Dividends and
Page 334 and 335: Section 5Heading 90: Net hedging in
Page 336 and 337: Section 8Heading 130: Adjustments f
Page 338 and 339: Section 9Heading 150: Administrativ
Page 340 and 341: Section 11Heading 170: Net adjustme
Page 342 and 343: Section 17Heading 240: Net gain (lo
Page 344 and 345: PART D - COMPREHENSIVE PROFIT AND L
Page 348 and 349: A.1.2 Financial assets by portfolio
Page 350 and 351: A.1.2. b Exposures to sovereign deb
Page 352 and 353: A.1.6 Cash and off-balance-sheet ex
Page 354 and 355: A.3 Secured exposures by type of se
Page 356 and 357: B. Loan distribution and concentrat
Page 358 and 359: B.3 Cash and off-balance-sheet expo
Page 360 and 361: C. Securitizations and asset dispos
Page 362 and 363: Quantitative informationC.1.1Exposu
Page 364 and 365: C.1.4 Exposures to securitizations
Page 366 and 367: C.2 Asset disposalsC.2.1 Financial
Page 368 and 369: Section 2Market risk2.1 INTEREST RA
Page 370 and 371: Table 1 - Value at risk and expecte
Page 372 and 373: Trend in VaR constituents The
Page 374 and 375: Currency of denomination: US DOLLAR
Page 376 and 377: 2.1 Regulatory trading book: cash e
Page 378 and 379: HedgingFair value hedgesFair value
Page 380 and 381: Currency of denomination: US DOLLAR
Page 382 and 383: 2. Banking book: cash exposures of
Page 384 and 385: 2.4 FINANCIAL DERIVATIVE PRODUCTSA.
Page 386 and 387: A.2.2Other derivativesType of trans
Page 388 and 389: A.4 Financial derivatives: negative
Page 390 and 391: A.6 OTC financial derivatives: trad
Page 392 and 393: A.8 OTC financial derivatives: bank
Page 394 and 395: B. CREDIT DERIVATIVESB.1 Credit der
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C. CREDIT AND FINANCIAL DERIVATIVES
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indicator generated for the Bank of
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Section 4Operating riskDefinitionOp
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B.2 AFS valuation reserves: composi
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A. QUALITATIVE INFORMATIONTier 1 ca
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PART H - RELATED PARTY DISCLOSURE1.
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BENEFICIAL INTEREST OF BOARD MEMBER
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Situation at 30 June 2011Groupcompa
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Subsequent to the reporting date, o
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ANNEXES
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Liabilities and net equityIAS-compl
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MEDIOBANCA S.p.A. BALANCE SHEET *As
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MEDIOBANCA S.p.A. PROFIT AND LOSS A
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BANKS AND FINANCIAL COMPANIES (IAS/
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BANKSTABLE B (cont.)BALANCE SHEETSC
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OTHER GROUP COMPANIESTABLE B (cont.
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OTHER FINANCIAL COMPANIES (IAS/IFRS
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OTHER FINANCIAL COMPANIES (IAS/IFRS
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OTHER NON-FINANCIAL UNDERTAKINGS (I
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OTHER NON-FINANCIAL UNDERTAKINGS (I
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OTHERS (IAS/IFRS)TABLE B (cont.)462
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ASSOCIATE COMPANIESTABLE CBALANCE S
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ASSOCIATE COMPANIES TABLE C (cont.
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OTHER ASSOCIATED UNDERTAKINGSTABLE
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TABLE DSIGNIFICANT EQUITY INVESTMEN
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TABLE D (cont.)Sharecapital€mPar
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APPOINTMENT OF MEMBERS OF BOARD OF
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APPOINTMENT OF MEMBERS AND CHAIRMAN
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REPORT ON STAFF REMUNERATION POLICI
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. Criteria for calculation of bonus
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Restrictions have also been introdu
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ANNEXThe tables below shows the str
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II. Organizational governanceThe pr
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The typical components of remunerat
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- appraisal of the Mediobanca share
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the Bank, valuation criteria linked
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At a Board meeting held on 24 June
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l. Other informationCaps on variabl
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- in the area of related parties, t
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compliance with the terms and proce
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SECTION IIIGeneral MeetingsArticle
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general meeting or otherwise requir
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specified in the notice of general
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eing replaced had been elected from
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3) decisions concerning the acquisi
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transaction concerned, either thems
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Article 17, paragraph 2, points 3 a
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for its operations and the size of
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specifically designated by the Boar
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The proposals for appointments are
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Article 29The Statutory Audit Commi
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AUTHORIZATION TO THE BOARD OF DIREC
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The share capital may also be incre
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The Board of Directors is also auth
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ANNUAL STATEMENT SON CORPORATE GOVE
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At a general meeting held on 28 Oct
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Persons authorized to take part and
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All the Directors have made stateme
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DIRECTORSIRECTORS’ AND STRATEGIC
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With reference to risk management,
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Appointments committeeAppointments
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The Executive Committee is currentl
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HEAD OF COMPANY FINANCIAL REPORTING
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- expresses its opinion on the appo
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INTERNAL DEALINGThe Directors of Me
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In performing his duties, the head
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RISK MANAGEMENT AND INTERNAL ICONTR
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Table 1: BOARD OFMember ****OARD OF
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Table 3:3: OTHER REQUIREMENTS UNDER
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NamePosition held inMediobancaPosts
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NamePosition held inMediobancaPosts
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Annual Accounts and Report as at 30 June 2011 Draft - Mediobanca

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