Prospectus - Notowania
Prospectus - Notowania Prospectus - Notowania
PPA Acronym of Purchase Price Allocation, it indicates, within the sphere of application of IFRS 3 and, in greater detail, within the sphere of accounting using the purchase cost method (“Purchase Method”): (a) the statement in the purchaser’s financial statements, as of the date of acquisition, of the fair value of the net assets of the companies acquired, even if not recorded previously in their financial statements; and (b) any positive (negative) excess/deficit between the (i) purchase cost and (ii) the fair value of the net assets acquired, recorded in the purchaser’s financial statements as goodwill. Pricing Mechanism which proposes to quantify the price or the value of the credit or the product, to be paid by the debtor, the transferee or the purchaser of the same, as well as to establish the discount policies and those for modelling the calculation of this quantification. Although this mechanism can be used as leverage for increasing the profitability of the company, it must in any event lead to a definition of a price suitable for covering the cost of the funding; the operating costs associated with the approval process; the anticipated loss and that not anticipated, taking into account a profitability target for the capital employed. Private Banking Offer of personalized and high quality/complexity services addressing a limited number of customers with complex financial needs and funds. Project Finance Technique which is used to finance industrial projects on the basis of a forecast of the cash flows generated by the same. The review is based on a series of assessments which differ from those generally established for the analysis of the ordinary credit risks. These assessments include not only the analysis of the cash flows but also the technical review of project, the suitability of the sponsors who are committed to achieving it, and the markets the product is placed on. RMBS Acronym of Residential Mortgage Backed Securities. ABS type securities characterized by the fact that the underlying assets are residential mortgage loans. - 20 -
RWA (Risk-weighted asset) Value weighted for the risk relating to the assets on and off the balance sheet. According to the type of asset, the risk is calculated by means of use of internal methods (validated by the supervisory authorities) or standardized methods. The assets included among riskweighted assets and the related weighting criteria are detailed in the “New prudent supervisory provisions for Banks” (Circular No. 263 dated December 27, 2006 and subsequent amendments). Ponzi scheme Fraudulent economic model for the sale of financial investments which promises victims high profits. Despite this model having adopted various forms over time, the typical characteristics are: (i) the promise to investors of high profits over the short term; (ii) scant transparency regarding the nature of the investment; (iii) an offer made to a public which is not competent with regard to financial matters. In practice, the party who resorts to a Ponzi Scheme offers his investors periodic coupons or payments, fed by payments made by new parties involved in the con so that, attracted by the large profits expected, other parties are also willing to invest and fuel the system. The final outcome of a Ponzi scheme is that at a certain point the system will no longer be able to make the periodic payments and/or repay the capital to the investors. Stress-testing Process for carrying out stress tests or quantitative and qualitative techniques via which the banks assess their vulnerability to exceptional but plausible events Tier I Ratio The ratio between the Tier I and risk-weighted assets (RWA). Total Capital Ratio The ratio between the Total Capital and risk-weighted assets (RWA). US Subprime Loans disbursed – typically on the US market – to counterparts characterized by past difficulties in servicing the debt such as episodes of delayed payments, insolvency or bankruptcy, or who present a higher than average probability of default, due to a high instalment/income or debt/guarantee ratio. Wealth Management Activities which include Asset Management and insurance activities (life business). - 21 -
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- Page 17 and 18: CDO Acronym of Collateralized Debt
- Page 19: well as the negative “prudential
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- Page 49 and 50: at 12.31.2008 Notional value 28,772
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PPA Acronym of Purchase Price Allocation, it indicates,<br />
within the sphere of application of IFRS 3 and, in<br />
greater detail, within the sphere of accounting using the<br />
purchase cost method (“Purchase Method”):<br />
(a) the statement in the purchaser’s financial<br />
statements, as of the date of acquisition, of the<br />
fair value of the net assets of the companies<br />
acquired, even if not recorded previously in<br />
their financial statements; and<br />
(b) any positive (negative) excess/deficit between<br />
the (i) purchase cost and (ii) the fair value of<br />
the net assets acquired, recorded in the<br />
purchaser’s financial statements as goodwill.<br />
Pricing Mechanism which proposes to quantify the price or the<br />
value of the credit or the product, to be paid by the<br />
debtor, the transferee or the purchaser of the same, as<br />
well as to establish the discount policies and those for<br />
modelling the calculation of this quantification.<br />
Although this mechanism can be used as leverage for<br />
increasing the profitability of the company, it must in<br />
any event lead to a definition of a price suitable for<br />
covering the cost of the funding; the operating costs<br />
associated with the approval process; the anticipated<br />
loss and that not anticipated, taking into account a<br />
profitability target for the capital employed.<br />
Private Banking Offer of personalized and high quality/complexity<br />
services addressing a limited number of customers with<br />
complex financial needs and funds.<br />
Project Finance Technique which is used to finance industrial projects<br />
on the basis of a forecast of the cash flows generated by<br />
the same. The review is based on a series of<br />
assessments which differ from those generally<br />
established for the analysis of the ordinary credit risks.<br />
These assessments include not only the analysis of the<br />
cash flows but also the technical review of project, the<br />
suitability of the sponsors who are committed to<br />
achieving it, and the markets the product is placed on.<br />
RMBS Acronym of Residential Mortgage Backed Securities.<br />
ABS type securities characterized by the fact that the<br />
underlying assets are residential mortgage loans.<br />
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