GENERAL MEETING DRAFT - Bankier.pl

The transactions included under “Assets sold and derecognized” are those in which the Group, while
retaining most of the risk and return of the underlying receivables, nevertheless derecognized them
because the transaction was prior to January 1 st , 2002. On first adoption of IFRS the option permitted by
IFRS 1 that allows assets sold before January, 1 st 2004 not to be rerecognized, regardless of the amount
of risk and return retained, was taken.
Beside the indicated exposures, the Group has also carried out traditional transactions concerning
performing loans by purchasing the liabilities issued by the SPVs (so-called self-securitizations) for a total
amount of �41,522,071 thousand.
In 2009 two self-securitizations were carried out, whose underlyings were leasing contracts originated in
Italy concerning the use of motor vehicles, capital goods and real-estate assets for a nominal amount of
�1,705,231 thousand and residential mortgages originated in Italy for a nominal amount of �3,499,601
thousand.
However, assessment and monitoring of risk underlying securitizations are performed with regard not to
exposure to the SPV but rather to the sold receivables, which are monitored continuously by means of
Interim reports showing status of the receivables and repayment performance.
The following tables give a breakdown of the Group’s retained (i.e., non-derecognized) receivables by
region and asset quality, and by traditional and synthetic securitizations.
Securitized assets broken down by geographical area
Italy Germany Austria
2009 CONSOLIDATED REPORTS AND ACCOUNTS
Other EU
Countries
Amounts as at 12.31.2009
Others
European
Countries
(NON EU)
America Asia
Rest of the
world
(� thousands)
Assets sold but not derecognized
- Residential mortgage loans 9,623,047 - - - - - - - 9,623,047
- Leasing 3,878,106 - - 292,760 - - - - 4,170,866
- SME loans - - - - - - - - -
- Corporate loans - 5,588,928 - - 1,982 - - - 5,590,910
-Others - - - - - - - - -
Total 13,501,153 5,588,928 - 292,760 1,982 - - - 19,384,823
Securitized assets broken down by geographical area
Italy Germany Austria
Other EU
Countries
Amounts as at 12.31.2009
Others
European
Countries
(NON EU)
America Asia
Rest of the
world
Total
(� thousands)
Synthetic transactions
- Residential mortgage loans 877 12,379,347 2,871 99,444 - 233 112 180 12,483,064
- Commercial mortgage loans - 2,999,794 7,645 134,275 - - - 2,755 3,144,469
- SME loans 2,329,010 4,104,956 1,792,719 88,870 - 21,566 8,794 39,828 8,385,743
- Corporate loans 736,125 3,541,939 3,864,136 9,039,993 697,660 2,304,783 1,794,390 2,723,898 24,702,924
-Others - 11,831 7,082 - - 4,148 - - 23,061
Total 3,066,012 23,037,867 5,674,453 9,362,582 697,660 2,330,730 1,803,296 2,766,661 48,739,261
Securitized assets broken down by asset quality
(� thousands)
Other assets
(performing)
Amounts as at 12.31.2009
Impaired assets Total
Assets sold but not derecognized
- Residential mortgage loans 9,396,409 226,638 9,623,047
- Leasing 3,816,500 354,366 4,170,866
- SME loans - - -
- Corporate loans 5,588,789 2,121 5,590,910
-Others - - -
Total 18,801,698 583,125 19,384,823
Total
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