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

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

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

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A.1.2. a Exposures to sovereign debt securities by st<strong>at</strong>e, counterparty <strong>and</strong> portfolioImpaired <strong>as</strong>sets ¹Performing <strong>as</strong>setsAsset portfolio/qualityGrossexposureSpecificadjustmentsCollectiveadjustmentsNetexposureGrossexposureCollectiveadjustmentsNet exposureTotal (netexposure) ²1. Financial <strong>as</strong>sets held for trading — — — — — — 1,203,818 1,203,818Italy — — — — — — 349,679 349,679Greece — — — — — — 25,432 25,432Germany — — — — — — 759,481 759,481Hungary — — — — — — 15,820 15,820Brazil — — — — — — 57,857 57,857Others — — — — — — (4,451) (4,451)2. AFS securities 343,680 (108,903) — 234,777 2,623,366 — 2,623,366 2,858,143Italy — — — — 2,107,685 — 2,107,685 2,107,685Greece 343,680 (108,903) — 234,777 — — — 234,777Germany — — — — 482,769 — 482,769 482,769Irel<strong>and</strong> — — — — 32,912 — 32,912 32,912Others — — — — — — — —3. Financial <strong>as</strong>sets held to m<strong>at</strong>urity — — — — 246,151 — 246,151 246,151Italy — — — — 246,151 — 246,151 246,151Others — — — — — — — —Total <strong>at</strong> <strong>30</strong>/6/11 343,680 (108,903) — 234,777 2,869,517 — 4,073,335 4,<strong>30</strong>8,112¹ The impaired <strong>as</strong>sets only include securities subject to restructuring, namely the bonds issued by Greece held in the AFS portfolio falling due inDecember 2020.² The net exposure includes positions in securities (long <strong>and</strong> short) recognized <strong>at</strong> fair value (including the outst<strong>and</strong>ing accrual) except for <strong>as</strong>sets held tom<strong>at</strong>urity which are st<strong>at</strong>ed <strong>at</strong> amortized cost, the implied fair value of which is €14.2m; financial <strong>and</strong> credit deriv<strong>at</strong>ives are not included.– 363

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