UBI FINANCE CB 2 COVERED BOND - INVESTOR

UBI FINANCE CB 2 COVERED BOND - INVESTOR REPORT
Report at 31/08/2014
Counterparties
Issuer
Sellers
Unione di Banche Italiane S.c.p.a.
Guarantor
Servicer
Calculation Agent
Liability Swap Provider
Asset Swap Provider:
Italian Account Provider
Luxembourg Account Provider
UBI Finance CB 2 S.r.l.
Unione di Banche Italiane S.c.p.a.
Unione di Banche Italiane S.c.p.a.
n.a
n.a.
Unione di Banche Italiane S.c.p.a.
UBI Banca International S.A.
Banco di Brescia S.p.A., Banca Regionale Europea S.p.A. , Banca Popolare di Bergamo S.p.A, Banca Popolare di Ancona S.p.A., UBI Banca Private
Investment S.p.A. (*), Banca di Valle Camonica S.p.A., Banca Carime S.p.A., Banca Popolare Commercio e Industria S.p.A, and Unione di Banche Italiane
S.c.p.a (*)
(*) At the date of this report both Ubi Banca Private Investment and Unione di Banche Italiane have signed the Master Purchase Agreement, but haven't sold any loans yet
Denomination
UBI BANCA TV CB2 due 28/05/2018
UBI BANCA TV CB2 due 29/10/2022
UBI BANCA TV CB2 due 05/03/2019
ISIN
IT0004818701
IT0004864663
IT0005002842
Series
1st (private placement)
2nd (private placement)
3rd (private placement)
Issue Date
28/05/2012
29/10/2012
05/03/2014
Maturity Date
28/05/2018
29/10/2022
05/03/2019
Nominal Value Test
A=
B=
C=
Y
W
€
€
€
€
€
2.788.687.794,09
452.680.745,30
0,00
-
Z=
€
144.514.334,25
F=
€
2.140.000.000,00
Total A*P+B+C-Y-W-Z>=F
P= Asset Percentage
Amount of Credit Support
Pass
€
100,00%
956.854.205,15
Adjusted Outstanding Principal Balance
Principal Account plus Top-Up Assets
Adjusted Outstanding Principal Balance of other eligible assets
Potential Set-off Amount
Commingling Amount
The weighted average remaining maturity of all Covered Bonds (expressed in years) then
outstanding multiplied by the Euro Equivalent of the aggregate Principal Amount Outstanding of the
Covered Bonds multiplied by the Negative Carry Factor
Principal Amount Outstanding of all Series of Covered Bonds
Pass / Fail
Result of the overcollateralisation in the Nominal Value Test
1
Principal
1.440.000.000,00
500.000.000,00
200.000.000,00
Coupon
8.033.472,00
3.460.200,00
565.800,00
UBI FINANCE CB 2 COVERED BOND - INVESTOR REPORT
Report at 31/08/2014
NPV Test
NPV Cover Pool = A + B
A
B
€
€
€
2.852.466.040,56
2.852.466.040,56
0
NPV Cover Bond
€
2.275.597.499,62
Pass
TEST NPV Cover Pool > NPV Cover Bond
NPV Assets plus Top Up Asset
NPV Asset Swap and Liability Swap
Pass / Fail
Interest Cover Test
A=
B=
C=
D=
E=
F=
€
€
€
€
€
€
19.168.632,39
0,00
57.518.743,52
42.792.676,84
2.456.585,77
0,00
A+B+C>=D+E+F
Pass
Interest on Interest Account
Asset Swap Differential
Interest due in the next 12 months
Interest Payments due under all outstanding Series of Covered Bonds
Senior Liabilities
Payments due by the Guarantor under any Swap Agreement
Pass/ Fail
Top Up Asset Test
Top-up Assets
Collections
Recoveries
Other
TOTAL Top-up Assets
Are the Total Top-up Assets >15% (*)
If Yes, Excess Top-up Amount
€
€
€
471.849.377,69
471.849.377,69
YES
50.552.322,77
(Amount to be Transferred to Guarantor in the next Calculation Period
if not cured via repayment of Term Loan)
(*) Please be informed that, as repayment of the subordinated loan, the amount of 151 mln euros has been transferred to the sellers on the 29th of september
UBI Finance Accounts at 31/08/2014 (opened with Luxembourg Account Bank)
PrincipalAccount
Interest Account
Reserve fund
Total
Credit Ratings at 31/08/2014
UBI Banca
UBI Banca Event of Default
UBI Finance Srl Event of Default
€
€
€
€
451.514.508,02
4.882.516,80
14.154.123,29
470.551.148,11
Short Term
(Moody's)
P-3
NO
NO
Short Term
(S&P)
A-3
NO
NO
Short Term
(Fitch)
F2
NO
NO
2
Long Term
(Moody's)
Baa3
NO
NO
Long Term
(S&P)
BBBNO
NO
Long Term
(Fitch)
BBB+
NO
NO
UBI FINANCE CB 2 COVERED BOND - INVESTOR REPORT
Report at 31/08/2014
Pool assets Analysis
Provisional Pool Summary
Aggregate current Principal Outstanding Balance
Aggregate original Principal Outstanding Balance
Average current Principal Outstanding Balance
Average original Principal Outstanding Balance
Maximum current Principal Outstanding Balance
Maximum original Principal Outstanding Balance
Total number of Loans
Weighted average seasoning (months)
Weighted average remaining maturity (months)
Weighted average original term (months)
Weighted average Current LTV (%) - indexed
Weighted average Original LTV (%)
Weighted average interest rate (%)
% of Floating Rate Assets (By Outstanding Balance)
% of Fixed Rate Assets (By Outstanding Balance)
Collateral Currency
Current Loan Amount / Current Market Value (indexed)
0% - 20%
20% - 30%
30% - 40%
40% - 50%
50% - 60%
60% - 70%
70% - 80%
>80%
Outstanding Loan Amount
0 - 37,500
37,501 - 75,000
75,001 - 100,000
100,001 - 150,000
150,001 - 200,000
200,001 - 250,000
250,001 - 500,000
> 500,000
EUR
€ 3.108.275.810,85
5.198.549.626,63
€ 119.250,94
€ 199.445,60
€ 11.564.896,67
€ 38.000.000,00
26.065
69,48
142,96
212,44
38,24%
57,99%
2,27%
87,62%
12,38%
eur
Number of Loans
8.856
4.464
4.306
3.721
2.659
1.130
785
144
26.065
%
33,98%
17,13%
16,52%
14,28%
10,20%
4,34%
3,01%
0,55%
100,00%
Current Balance
579.973.888,32
530.009.044,43
626.651.795,32
580.572.898,33
465.422.975,78
155.261.640,56
103.646.081,04
66.737.487,07
3.108.275.810,85
%
18,66%
17,05%
20,16%
18,68%
14,97%
5,00%
3,33%
2,15%
100,00%
Number of Loans
7.902
6.756
3.350
3.971
1.428
789
1.101
768
26.065
%
30,32%
25,92%
12,85%
15,23%
5,48%
3,03%
4,22%
2,95%
100,00%
Current Balance
147.718.838,05
374.180.448,52
290.250.582,11
485.585.444,14
245.584.333,91
175.621.347,92
379.855.156,34
1.009.479.659,86
3.108.275.810,85
%
4,75%
12,04%
9,34%
15,62%
7,90%
5,65%
12,22%
32,48%
100,00%
3
UBI FINANCE CB 2 COVERED BOND - INVESTOR REPORT
Report at 31/08/2014
Interest Type (*)
Fixed rate
Floating rate
Number of Loans
4.099
21.966
26.065
%
15,73%
84,27%
100,00%
Current Balance
384.845.293,69
2.723.430.517,16
3.108.275.810,85
%
12,38%
87,62%
100,00%
(*) "Fixed rate" loans are loans that have a fixed rate for life, all other interest types are included in the "Floating rate" loans.
Originator
Banca Carime
Banca della Valle Camonica
Banco di Brescia
Banca Pop. Comm. e Industria
Banca Pop. di Ancona
Banca Regionale Europea
Banca Pop. di Bergamo
Maturity Date
2009 - 2012
2013 - 2017
2018 - 2022
2023 - 2027
2028 - 2032
2033 - 2037
2038 - 2042
2043 - 2047
> 2047
Original Loan Amount / Original Market Value (*)
0% - 20%
20% - 30%
30% - 40%
40% - 50%
50% - 60%
60% - 70%
70% - 80%
> 80%
(*) It refers to the LTV at the time of granting the loan
Seasoning (months)
0 - 12
12 - 24
24 - 48
48 - 72
72 - 96
96 - 170
> 170
Number of Loans
3.446
704
4.034
2.874
4.327
4.666
6.014
26.065
%
13,22%
2,70%
15,48%
11,03%
16,60%
17,90%
23,07%
100,00%
Current Balance
321.395.274,88
112.507.469,16
550.438.741,50
322.665.582,90
541.444.267,17
612.077.726,89
647.746.748,35
3.108.275.810,85
%
10,34%
3,62%
17,71%
10,38%
17,42%
19,69%
20,84%
100,00%
Number of Loans
4
4.501
7.650
7.004
3.508
1.782
1.506
91
19
26.065
%
0,02%
17,27%
29,35%
26,87%
13,46%
6,84%
5,78%
0,35%
0,07%
100,00%
Current Balance
82.320,62
170.842.287,15
894.051.902,16
982.977.950,14
563.700.917,60
259.460.058,57
214.121.137,02
16.879.810,96
6.159.426,63
3.108.275.810,85
%
0,003%
5,50%
28,76%
31,62%
18,14%
8,35%
6,89%
0,54%
0,20%
100,00%
Number of Loans
2.761
2.866
3.626
4.306
3.999
3.131
2.570
2.806
26.065
%
10,59%
11,00%
13,91%
16,52%
15,34%
12,01%
9,86%
10,77%
100,00%
Current Balance
288.457.188,19
305.147.154,97
436.192.420,59
592.395.321,88
548.104.361,87
421.568.104,00
281.153.408,77
235.257.850,58
3.108.275.810,85
%
9,28%
9,82%
14,03%
19,06%
17,63%
13,56%
9,05%
7,57%
100,00%
Number of Loans
%
0,45%
3,19%
17,75%
20,82%
18,76%
34,66%
4,37%
100,00%
Current Balance
16.684.506,51
120.607.656,54
795.896.725,39
882.713.173,64
660.955.772,65
610.652.214,38
20.765.761,74
3.108.275.810,85
%
0,54%
3,88%
25,61%
28,40%
21,26%
19,65%
0,67%
100,00%
117
831
4.627
5.427
4.890
9.033
1.140
26.065
4
UBI FINANCE CB 2 COVERED BOND - INVESTOR REPORT
Report at 31/08/2014
Payment
Monthly
Quarterly
Semi-Annual
Annual
Other
Geographical Distribution
Piemonte
Valle D'Aosta
Lombardia
Trentino Alto Adige
Veneto
Friuli Venezia Giulia
Liguria
Emilia Romagna
Toscana
Umbria
Marche
Lazio
Abruzzo
Molise
Campania
Puglia
Basilicata
Calabria
Sicilia
Sardegna
Current and delays
Current <= 1m
1<=2m
2<=3m
3<=6m
6<=12m
>=12
Number of Loans
21.789
765
3.201
32
278
26.065
%
83,59%
2,93%
12,28%
0,12%
1,07%
100,00%
Current Balance
2.302.822.276,74
298.485.794,39
484.946.129,91
3.789.708,03
18.231.901,78
3.108.275.810,85
%
74,09%
9,60%
15,60%
0,12%
0,59%
100,00%
Number of Loans
3.113
33
11.376
11
348
73
1.420
548
90
409
1.959
1.627
369
161
1.258
1.262
278
1.651
17
62
26.065
%
11,94%
0,13%
43,64%
0,04%
1,34%
0,28%
5,45%
2,10%
0,35%
1,57%
7,52%
6,24%
1,42%
0,62%
4,83%
4,84%
1,07%
6,33%
0,07%
0,24%
100,00%
Current Balance
407.292.308,55
3.974.900,64
1.321.638.447,97
2.164.026,42
49.532.691,97
6.712.472,49
194.952.709,80
110.104.171,78
23.653.297,28
47.656.180,95
228.109.065,88
199.805.563,42
40.187.892,31
13.099.887,62
168.745.382,48
132.766.024,98
25.507.812,57
125.718.555,20
1.938.715,20
4.715.703,34
3.108.275.810,85
%
13,10%
0,13%
42,52%
0,07%
1,59%
0,22%
6,27%
3,54%
0,76%
1,53%
7,34%
6,43%
1,29%
0,42%
5,43%
4,27%
0,82%
4,04%
0,06%
0,15%
100,00%
Number of Loans
24.885
247
172
207
191
363
26.065
%
95,47%
0,95%
0,66%
0,79%
0,73%
1,39%
100,00%
Current Balance
2.872.395.543,04
32.926.700,39
42.705.135,67
26.394.287,82
43.450.740,48
90.403.403,45
3.108.275.810,85
%
92,41%
1,06%
1,37%
0,85%
1,40%
2,91%
100,00%
Contact
If you have any queries regarding this report please contact:
UBI Banca - Funzione Amm.ne Società Veicolo
[email protected]
UBI Banca - Investor Relations
[email protected]
phone +39 035 3922217 or +39 035 3923535
5

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