Prospectus - Notowania

Section 2 – Shareholders’ equity and banking regulatory ratios
2.1 Regulatory framework
The scope of consolidation has been determined in accordance with prudential rules (i.e. Banca d’Italia Circulars 263/2006
and 155/1991) and includes the following subsidiaries, joint ventures and associates:
� banks and financial or ancillary companies controlled directly or indirectly by the Parent and fully consolidated
� banks and financial or ancillary companies in which the Parent has a direct or indirect interest of 20% or more where
there is joint control with other entities on the basis of mutual agreements, and which are consolidated proportionately
� banks and financial companies in which the Parent has a direct or indirect interest of 20% or more, or over which the
Parent exercises significant influence, consolidated using the equity method
� companies other than banks and financial or ancillary companies controlled directly or indirectly by the Parent either
exclusively or jointly or subject to significant influence, which are consolidated using the equity method.
Banks and financial companies accounted for using the equity method and ‘qualified’ entities, in which the Parent has a direct
or indirect interest of over 10%, are deducted from regulatory capital, as to 50% from the capital base and as to the remaining
50% from supplementary capital. It should be noted that the difference on initial application of the equity method, between
the carrying amount of the equity investment and the corresponding portion of the equity of the company is deducted in full
from the capital base.
The carrying amount of companies other than banks and financial or ancillary companies and of banks and financial
companies in which the Parent has an interest of 10% or less is included in risk weighted assets.
The prudential scope of consolidation differes from the scope of consolidation of the financial statements, which is determined
in accordance with IFRS. Both subsidiaries and joint ventures are fully or proportionately consolidated in the latter, even if
they are not banks or financial or ancillary companies.
CONSOLIDATED INTERIM REPORT
AS AT SEPTEMBER 30, 2009
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