1996 - Archivio Storico Vincenzo Maranghi

een computed. Premiums onddiseounls have been computedas the d$/erence between fhe markei vnlue o/
fhe bonds andthe marker value ofthe underlvinp shares as a Derceniaae orsueh value on fhe arsumotion fhaf
the bonds were convertedon the ;e/erence dn~ie,~riespective o/the boidindenfure. Aeeounf hns been faken q/.
any expense oiising on conversion including any forced wniver ofinreresr oeeruedup lo the conversion dafe.
Table VI11
This tablegives che amounts o/listedbonds in issue or che dafesgiven selecfedon rhesameprincipleras rhose
sei ouf/or Table V. li doesnof include bonds denominatedin currenciesoiher rhan rhe lira, convertible bonds
ond bonds wifh warrmts aftoehed It includesprincipol amounts drnwn by lof redeemable on 1st January o/
the/ollowing year:
Table M
Tnble IXgives ihegross weekly average redemplion yieldsandmovingaverager compufedretroacfivelyover
standard 13-weekperiods o/ Icolian Governmenl securifies and bonds selected on the bosis o/high frading
volume (ai por) on Itolion stock exchanges during the period frorn 6th October 1986 ro 28th June 1996.
Furfher details o/ rhe methods o/sclection and calculation con be/ound in a special brochure, which is
ovailable/rom Mediobanco'r Research Deparlmenf on request.
Table X
TohleXshowsIhemonthly injlotion rafein Italy basedon year-on-yearpercentage changes in fhe refailprice
index used to calculate sliding scale wage incremenis. the onnual yield on 12-monrh BOTs based on issue
price (fhe yieldgiven h the average befween the mid-monfh and end-monfh aucrion) and the averuge nef
redempfion yieldon bonds issued by banks ospublishhed by fhe Bank o/ltnly (up ro September 1995 ihe nef
redempfion yield on bonds issued by rnedium-term credit insrituiions). The table covers the period berween
1st Januory 1986 and30th June 1996.
The/ollowing conventionol symbolr ore used in the rables:
securifies ngainsf which the Bank ofltaly is aufhorized fa granf advances
accepfed/or deposic wifh Government aufhorities assecurity or asperformance bonds forpublic works
confracfs
no applicable or no availoblefigure
less ihan unit employed
not calculafed
carrying composile tax rafe of 10.8%
earrying rox rate qf6.25%
carryuig inx rafe 412.5%