consolidated annual report - Gruppo Banca Sella

Securitizations
STATE OF THE SECURITIZATION BY BANCA SELLA S.P.A.
Summary table of securitized assets and bonds issued (figures in euro units).
Situation as at 31/12/2004
A) Securitized assets 111.858.368
A1) Loans 108.749.397
A3) Other: 3.108.971
- Loans to be collected 1.350.466
- Accrued income on interest accrued 26.921
- Accrued income on interest on loans 1.731.584
B) Investment of cash deriving from the management of loans 8.247.775
B3) Cash 4.932.405
B4) Repurchase agreements investments 3.315.370
C) Bonds issued 112.394.708
C1) Class A bonds 93.042.708
C2) Class B bonds 17.300.000
C3) Class C bonds 2.052.000
E) Other liabilities 7.696.179
- Due to third parties 12.333
- Accruals on interest on swaps 150.065
- Accruals on interest accrued on securities 481.825
- Accruals on withholding taxes on interest 1.757
- Sundry debts 170.654
- Debts for interest on class C bond 6.879.545
F) Interest payable on bonds issued 4.210.764
G) Servicing fees to be paid 657.492
- Servicing fees 598.761
- Fees for other services 58.731
H) Other charges 1.025.373
- Interest payable on swaps 1.017.331
- Other charges 8.042
I) Interest generated by securitized assets 5.537.257
L) Other income 371.629
- Income from the assignment of credits 120.622
- Interest receivable 56.509
- Sundry reimbursements -
- Income from repurchase agreements 194.498
QUANTITATIVE INFORMATION
Cash flow relevant to the loans
All securitized loans are classified as performing resident mortgage loans belonging to Banca Sella S.p.A.. The relevant cash flow is stated here below (figures in units of euro):
Residual value of purchased loans 132.099.407
Collections for capital quota until 31/12/2004 15.660.057
Collections for advanced redemptions 6.347.125
Value of loans as at 31/12/2004 110.092.225
of which non-performing loans as at 31/12/2004 1.421.331
of which performing loans 108.749.397
Other loans 3.108.970
Consolidated annual report 2004 - 259