consolidated annual report - Gruppo Banca Sella

F) Interest payable on bonds issued 7.178.328
G) Servicing fees to be paid 412.389
- Servicing fees 358.930
- Fees for other services 53.459
H) Other charges 3.558.707
- Interest payable on swaps 913.814
- Other charges 2.644.893
I) Interest generated by securitized assets 9.969.309
L) Other income 1.204.130
- Income from the assignment of credits 917.517
- Interest receivable 84.873
- Income from repurchase agreements 201.740
QUANTITATIVE INFORMATION
Cash flow relevant to the loans
All securitized loans are classified as performing resident mortgage loans belonging to Biella Leasing S.p.A..
Collections made by Biella Leasing S.p.A. as servicer were wholly credited to Secursel S.r.l. at the expected dates. The total of collections as servicer for the activity carried out in 2004 amounted
to € 81.624.624.
Collections relevant to days from 23/12/2004 to 31/12/2004 amounting to € 2.183.378, were credited to Secursel S.r.l. in the first days of 2005.
The situation since the beginning of the operation is stated here below:
Original value of purchased loans 202.102.345
Residual value of purchased loans as at 31/12/2002 188.616.147
Residual value of purchased loans as at 31/12/2003 188.365.229
- capital quota matured up to 31/12/2004 (64.157.931)
- capital quota for advanced redemptions as at 31/12/2004 (5.924.267)
- capital quota as non-performing loans as at 31/12/2004 (1.245.072)
Residual value of purchased loans as at 31/12/2004 177.037.959
Evolution of expired loans
As at 31/12/2004 the amount of matured quotas was equal to € 455.023 includes expired quotas to be collected for € 436.127 of capital and € 18.896 of interest. Such amount is to be
processed and collected in the first months of 2005.
The amount of loans deriving from non-performing contracts or contracts the goods of which were object of theft, net of recoveries, amounts to € 528.086 wholly deducted from remuneration
of class C bond, as provided for by assignment contract.
With regard to matured loans, recovery procedures were promptly put in place.
Distribution of loans by residual maturity
Residual value (in units of euro)
0 to 3 months 12.378.257
above 3 months to 1 year 31.338.537
above 1 year to 5 years 61.905.412
beyond 5 years 11.415.753
117.037.959
Geographical distribution of loans
All loans are denominated in euro and all debtors are resident in Italy.
Distribution of risk
Class of risk No. Residual value (in units of euro)
€ 0 to € 25.823 3.778 24.341.240
above € 25.823 to € 77.470 475 20.355.630
above € 77.470 to € 258.230 254 35.806.804
beyond € 258.230 90 36.534.285
4.597 117.037.959
Consolidated annual report 2004 - 261