Prospectus - Notowania

The residual life of sponsored conduits’ underlyings is given in the following table. Average residual life is in most cases
under one year or over five years.
Purchase companies' assets broken down by residual life (€ thousand)
Amounts as at 09.30.2009
Remaining average life Less than 1 year 1 to 5 years Over 5 years Total
- Residential mortgage loans 389,696 - 1,278,400 1,668,096
- Commercial mortgage loans - - 594,804 594,804
- Leasing 492,431 - - 492,431
- Credit cards - - - -
- Consumer loans 828,500 - - 828,500
- SME loans - - - -
- State related entities - - - -
- Others 677,286 78,521 50,530 806,337
- RMBS 1,532 1,532
- CMBS 16,372 90,202 106,574
- CDO 4,279 4,279
- CLO / CBO 63,254 63,254
- Corporate bonds 117,564 26,888 257,208 401,660
Total 2,521,849 105,409 2,340,209 4,967,467
Assets recognized in financial statements, due to consolidation of conduits, are a marginal portion of the Group’s assets.
The following table shows these assets by balance sheet classification and as a percentage of total assets in the same
class.
Consolidated conduits broken down by type of financial assets portfolio (€ thousand)
CONSOLIDATED INTERIM REPORT
AS AT SEPTEMBER 30, 2009
Financial assets held for
trading
Financial assets measured at
Fair Value
Amounts as at 09.30.2009
Financial assets held to
Loans and receivables
maturity
Financial assets available for
sale
Balance sheet amount - 150,050 4,390,168 147,129 280,120 4,967,467
% IAS portfolio - 1.03% 0.66% 1.05% 0.80% 0.57%
1.3 The Group as Investor
As well as originator and sponsor, the Group is also an investor in structured credit instruments.
These risks are mainly held on the books of the Corporate and Investment Banking Division (CIB) and Unicredit Bank Ireland.
This business was particularly affected by the difficult situation on the financial markets, which began in 2007 and determined
a transformation of the structured credit product market into an illiquid market.
Against this background, in 2008 the Group ring-fenced these products in a specific Global ABS Portfolio managed with the
aim of maintaining the holdings, also in view of the fact that the underlyings have good fundamentals. This portfolio is subject
to monitoring and reporting of both credit risk and market risk.
This new strategy has been reflected in the accounts through the reclassification of most of these positions in the item “loans
and receivables to customers” occurred for the most part in the second half of 2008 and, for the remaining, in the first half
2009. See Section 1.4 for information about the effects of this reclassification.
Total
184