Other Investment and Derivatives

Transcription

1 Other Investment and Derivatives BALANCE OF PAYMENTS STATISTICS DATA COLLECTION AND COMPILATION Rome, 9-10 June, 2011 Giusi Marocchi, Maurizio Iannaccone, Nadia Accoto

2 I Current account II Capital account III Financial account Direct investment Abroad/In the reporting country Equity capital and reinvested earnings Other capital Portfolio investment Financial derivatives Other investment Reserve assets IV Errors and omissions The Balance of payments page 1

3 FDI other capital - financial instruments I Current account II Capital account III Financial account Direct investment Abroad/In the reporting country Equity capital and reinvested earnings Other capital Portfolio investment Financial derivatives Other investment Reserve assets IV Errors and omissions Trade credits Loans Currency and deposits Other assets/liabilities Trade credits Loans Currency and deposits Other assets/liabilities page 2

4 Classification of FDI Other capital and Other Investment The classification of the links between the company and the foreign counterpart becomes crucial in order to correctly distinguish FDI other capital from other investment The counterpart is: a direct investor a direct investment enterprise an enterprise in a FDI Relationship with the reporting agent (indirect control or fellowship) FDI Other Capital No links with the counterpart Other Investment page 3

5 FDI - Other capital, Other investments and Derivatives Aim of the presentation Data sources General overview The Central Bank data Banks and Other Financial Institutions reports Direct Reporting Other data sources Specific issues related to derivatives A look to the data page 4

6 Data sources: General overview Resident institutional sector FDI - other capital Other investment Derivatives General Government na CB CB Monetary authority na CB CB Other MFIs IBR IBR IBR Non financial and insurance corporations DR DR DR Other financial institutions OFIR OFIR OFIR Households and NPISHs AS+OS AS+OS AS+OS CB IBR DR OFIR AS OS Central Bank data Integrated Bank Reports Direct Reporting Other Financial Institutions Reports Administrative Sources Other Sources page 5

7 Data sources: General overview Resident institutional sector BOP (Flows) IIP (Stocks) General Government CB flow report Derived from CB flow report Monetary authority CB flow report CB stock report Other MFIs Derived from IBR on stock IBR on stock Non financial and insurance corporations DR on Flows (OMF,OTF) DR on stocks (CAF) Other financial instituitions Derived from OFIR on stock OFIR on stock Households and NPISHs Tax authorities information ("Monitoraggio fiscale ) Tax shield (for 2009 and 2010) ( Scudo fiscale ) Tax authorities information ("Quadro RW ) Tax shield ( Scudo fiscale ) CB IBR DR OFIR Central Bank data Integrated Bank Reports Direct Reporting Other Financial Institutions Reports page 6

8 Data sources: General overview Resident institutional sector FDI - other capital Other investment Derivatives General Government na CB CB Monetary authority na CB CB Other MFIs IBR IBR IBR Non financial and insurance corporations DR DR DR Other financial institutions OFIR OFIR OFIR Households and NPISHs AS+OS AS+OS AS+OS CB IBR DR OFIR AS OS Central Bank data Integrated Bank Reports Direct Reporting Other Financial Institutions Reports Administrative Sources Other Sources page 7

9 Data sources: the Central Bank data The Bank of Italy reports transactions and positions with foreign counterparts carried out on its own. The Bank of Italy performs the State treasury service. This consists in the execution of all payment orders issued by Central Government bodies and in the collection of all the amounts due to the Central Government on whatever basis, both directly and indirectly. The Bank of Italy reports flows on behalf of Central Government related to operations performed with foreign counterparts. The Central Bank data is the same source used also in the old data collection system. In order to be more exhaustive, this data source should be integrated with information on local government entities transactions and positions (and possibly with stock data referred to the Central Government bodies). page 8

10 Data sources: General overview Resident institutional sector FDI - other capital Other investment Derivatives General Government na CB CB Monetary authority na CB CB Other MFIs IBR IBR IBR Non financial and insurance corporations DR DR DR Other financial institutions OFIR OFIR OFIR Households and NPISHs AS+OS AS+OS AS+OS CB IBR DR OFIR AS OS Central Bank data Integrated Bank Reports Direct Reporting Other Financial Institutions Reports Administrative Sources Other Sources page 9

11 Data sources: Banks and Other financial institutions reports Type: Integrated MFIs/OFIs Reporting Frequency: Monthly (Banks and Investment Funds) Quarterly (Real estate Funds, Private Equity, and other residual FI) Semi-annual (Investment firms) Data: Stock data (Flows are derived, adjustments are calculated) Strenghts: Weaknesses: High Quality and reliability Very High response rate Timeliness (12 working days after the reference period) for the monthly reports (MFIs) Lack of details (e.g. SPE, UCP, dividends payable vs paid) Timeliness for the quarterly/semi-annual reports (OFIs) Need for improvements according to the timetable for the adoption of new international standards (BPM6 and BD4) in the Euro Area. page 10

12 Data sources: General overview Resident institutional sector FDI - other capital Other investment Derivatives General Government na CB CB Monetary authority na CB CB Other MFIs IBR IBR IBR Non financial and insurance corporations DR DR DR Other financial institutions OFIR OFIR OFIR Households and NPISHs AS+OS AS+OS AS+OS CB IBR DR OFIR AS OS Central Bank data Integrated Bank Reports Direct Reporting Other Financial Institutions Reports Administrative Sources Other Sources page 11

13 Data sources: Direct reporting Foreign counterpart classification and codification of FDI links in DR questionnaires For each reported transaction or position, companies are asked to classify the link with the foreign counterpart choosing among these categories: the counterpart is a direct investor the counterpart is a direct investment enterprise the counterpart is indirectly controlled by the reporting company the counterpart indirectly controls the reporting company the counterpart is a fellow enterprise Identification code of the counterpart Name of the counterpart Economic sector of the counterpart Type of FDI relationship Spe (yes/no) UHC (yes/no) page 12

14 Data sources: Direct reporting DR DR -- CAF CAF Consistenze Annuali Finanziarie (Annual stock data) Periodicity: yearly Timeliness: 6 months after the end of the reference year Number of respondents: 5750 for 2011 Contents: financial assets and liabilities (end-of-the-year stock data) loans, deposits, trade credits, other assets/liabilities (reporters are asked to classify foreign counterparts using the criteria defined before) FDI debt instruments Derivatives Questionnaire page 13

15 Data sources: Direct reporting DR DR OMF/OTF Operazioni mensili/trimestrali finanziarie (Monthly/Quarterly (Monthly/Quarterly financial financial transactions transactions and and positions) positions) Periodicity: monthly/quarterly Timeliness: 1 month after the end of the reference period Number of respondents (big players): OMF 300 for 2011 OTF 600 for 2011 Contents: financial assets and liabilities (flow or stock data) loans, deposits, trade credits, other assets/liabilities (reporters are asked to classify foreign counterparts using the criteria defined before) FDI debt instruments Derivatives Questionnaire page 14

16 OMF/OTF Data sources: Direct reporting Stock referred to deposits, trade credits, other assets/liabilities Deriving flows from stocks Transactions referred to loans, FDI debt instrument, derivatives Monthly and quarterly BOP CAF Stock referred to loans, deposits, trade credits, other assets/liabilities, FDI debt instrument, derivatives Quarterly IIP Annual IIP Deriving flows from stocks (revision) page 15

17 Data sources: general overview Resident institutional sector FDI - other capital Other investment Derivatives General Government na CB CB Monetary authority na CB CB Other MFIs IBR IBR IBR Non financial and insurance corporations DR DR DR Other financial institutions OFIR OFIR OFIR Households and NPISHs AS+OS AS+OS AS+OS CB IBR DR OFIR AS OS Central Bank data Integrated Bank Reports Direct Reporting Other Financial Institutions Reports Administrative Sources Other Sources page 16

18 Other data sources: Tax authorities information Monitoraggio Fiscale Legal framework enforcing resident banks to monthly report to the Ministry of Finance crossborder settlements performed on behalf of resident households. The Ministry of Finance transmits these data in an aggregated form to the Bank of Italy for statistical purposes once a year. Periodicity: Monthly Timeliness: 10 months after the end of the tax reference year Coverage: all households performing transactions with foreign counterparts through the resident banks over the threshold of Contents: amount of transaction with details on: country instrument (loans, deposits, real estate, etc) direction (inflow/outflow) page 17

19 Other data sources: Tax authorities information Quadro RW Legal framework enforcing resident household to annually report to the Ministry of Finance financial assets held abroad. The Ministry of Finance transmits these data in an aggregated form to the Bank of Italy for statistical purposes once a year. Periodicity: Annual Timeliness: 16 months after the end of the tax reference year Coverage: all households holding financial assets abroad Contents: amount of assets with details on: country instrument (loans, deposits, real estate, securities, etc.) page 18

20 Other data sources: Tax shield Scudo fiscale: legal act allowing resident natural persons to declare their assets illegally held abroad (in violation of tax law) existing at The illegal assets had to be declared to a resident financial intermediary from September 2009 to April The Bank of Italy collected data referred to these assets for BoP and IIP purposes, with the necessary details (type of assets, country of the counterpart, etc). Three possible ways were defined: 1. Repatriation of capital after assets liquidation 2. Regularization of assets maintained abroad (no liquidation, no repatriation) 3. Repatriation of assets without liquidation (e.g. securities transferred to a domestic custodian) From the external statistics perspective: the total amount disclosed in the period (104 bln Euro) resulted in an increase of assets included in the IIP page 19

21 Special issues related to derivatives Collection of aggregated data according to current ECB requirements Breakdowns available for currency and counterpart countries For flows, distinctions available only among:» Initial margins (to be considered as deposits in the Other Investment functional BOP category)» Option premiums, variation margins, differences between Market and Exercise Price, and all other flows related to other derivatives (swaps, fra.) reported in a lump sum For stock data is also available the assets/liabilities breakdown page 20

22 Special issues related to derivatives Methodology Flows are collected on a net basis:» Net positive flows are considered BOP credits (ASSETS)» Net negative flows are considered BOP debits (LIABILITIES) Stocks are collected on a gross basis:» Options bought and other derivatives having positive MtM/fair value are considered ASSETS» Options sold and other derivatives having negative MtM/fair value are considered LIABILITIES» Derivatives traded on standardised markets are neutral (MtM=0) page 21

23 A look to the data International Investment Position end-2010 ASSETS LIABILITIES BALANCE FINANCIAL ACCOUNT Direct investment Equity Other capital Portfolio investment Financial derivatives Other investment Reserve page 22

24 A look to the data IIP 2010 Other investment by resident sector ASS LIAB N IBR CB DR AS + OS OFIR Monetary authorities General government Other MFIs Other sectors - Non financial and insurance corporations Other sectors - Households Other sectors - Other financial institutions page 23

25 Giuseppina Marocchi Maurizio Iannaccone Nadia Accoto Banca d Italia Statistics Collection and Processing Department External Statistics Division giuseppina.marocchi@bancaditalia.it maurizio.iannaccone@bancaditalia.it nadia.accoto@bancaditalia.it

26 CAF Questionnaire ANNUAL STOCK DATA 2010 edition Foreign Assets and Liabilities at the end of the reference period Reporting agent code Reference period (ddmmyyyy) [ ] General Information SECTION A - GENERAL INFORMATION V01056 Enterprise Name V01089 Tax Number V01108 Institutional Sector Code V01069 NACE Code V01102 Address V01086 Postal Code V01091 City Code V01115 Enterprise Status 10 - Operative (go to section B) 11 - Non-operative as a result of a merger (go to item [ ]) 12 - Non-operative due to liquidation (go to item [ ]) 13 - Non-operative due to closing down (go to item [ ]) 14 - Non-operative due to other reasons (go to item [ ]) [ ] Non-operative as a result of a merger V01060 Event Date (yyyymmdd) V01057 Name of the Acquirer V01088 Tax Number of the Acquirer (if resident) V01112 Country Code [ ] Non-operative due to other reasons V01060 Event Date (yyyymmdd)

27 CAF Questionnaire SECTION B - FINANCIAL STATEMENT DATA [ ] Financial Statement of the Reporting Agent V01103 Number of Employees V00912 Date of last approval of the financial statement V01105 Accounting Principles National GAAP IAS / IFRS Other V01085 Total Asset V01098 Turnover V01104 Net Equity V01106 Net Profit after Taxes V00995 Is the reporting agent part of an enteprise group? Yes and the reporting agent is the Ultimate Parent Company (go to item [ ]) Yes and the reporting agent is not the Ultimate Parent Company ((go to item [ ]) No (go to section C) [ ] Information on the Ultimate Parent Company V01092 Ultimate Parent Company Name V01109 Ultimate Parent Company Country Code

28 CAF Questionnaire [ ] Contact Person SECTION C - CONTACT PERSON V01031 First Name V01030 Last Name V V01116 Phone number V01099 Fax number V01094 Enterprise Name V01080 Functional Area / Department V01102 Address V01086 Postal Code V01090 City Code

29 CAF Questionnaire ANNUAL STOCK DATA SECTION D - OUTWARD D1 - Participations of at least 10% of voting power in which the Reporting Agent is acting as Direct Investor [ ] Incorporated Enterprise - equity shares with ISIN code [ ] Incorporated Enterprise - equity shares without ISIN code [ ] Other types of companies General Information on the Direct Investment Enterprise (DIE) V01101 DIE id. code V01096 DIE Name V01114 DIE Country V01081 DIE NACE code V00995 V01179 Relationship between Reporting Agent and the counterpart direct associate or subsidiary not at the end of the chain of relationships direct associate or subsidiary at the end of the chain of relationships Special Purpose Entity (SPE) Participation details (for all reports, unless otherwise indicated) V01062 Percentage of voting power held by the Reporting Agent % V01124 Own Funds at Book Value (only report [ ]) V00032 ISIN code V01063 Number of ordinary shares held at the reference date V01121 of which deposited shares in central depository Other Information (for all reports) V00912 Last financial statement (yyyymmdd) V01123 Operating profit (in euros) V01122 Dividends frequency V01120 Payable dividend (in euros) Pag. 4 di 11

30 CAF Questionnaire D2 - Portfolio Investment [ ] Equities and Mutual Funds [ ] Debt Instruments ANNUAL STOCK DATA SECTION D - OUTWARD Participation Details (for all reports, unless otherwise indicated) V00529 Type of ownership 10 - Ownership without restrictions 11 - Ownership, security sold in repo agreement 12 - No Ownership, security acquired in repo agreement V00032 ISIN Code V01063 Number of shares (for equities and mutual funds) (only report [ ]) V01117 Nominal amount (for debt instruments) (only report [ ]) (in euros) V01079 Value (market value for listed instruments - book value for unlisted instruments) (in euros) V01059 Depository of the shares 81 - Resident financial intermediary 82 - Montetitoli (Italy Central Depository) 83 - Financial Intermediary or Global Custodian abroad 85 - Others Pag. 5 di 11

31 CAF Questionnaire D3 - Other Investments - Assets [ ] Trade credits with counterparts abroad having fdi direct/indirect/fellow relationship with the reporting agent [ ] Trade credits with counterparts abroad not having fdi direct/indirect/fellow relationship with the reporting agent [ ] Infra group cash pooling account with counterparts abroad having fdi direct/indirect/fellow relationship with the reporting agent [ ] Infra group cash pooling account with counterparts abroad not having fdi direct/indirect/fellow relationship with the reporting agent [ ] Current account and deposits with banks abroad having fdi direct/indirect/fellow relationship with the reporting agent [ ] Current account and deposits with banks abroad not having fdi direct/indirect/fellow relationship with the reporting agent [ ] Loan with counterparts abroad having fdi direct/indirect/fellow relationship with the reporting agent [ ] Loan with counterparts abroad not having fdi direct/indirect/fellow relationship with the reporting agent [ ] Other assets with counterparts abroad having fdi direct/indirect/fellow relationship with the reporting agent [ ] Other assets with counterparts abroad not having fdi direct/indirect/fellow relationship with the reporting agent V01078 ANNUAL STOCK DATA SECTION D - OTHER INVESTMENTS - OUTWARD Register of fdi direct/indirect/fellow relationship (only reports [ ], [ ], [ ], [ ], [ ]) Identification code V01183 Abroad Enterprise V01068 Counterpart country V01118 Counterpart NACE code V00995 Relationship between Reporting Agent and the counterpart direct associate or subsidiary not at the end of the chain of relationships direct associate or subsidiary at the end of the chain of relationships direct investor indirect subsidiary not at the end of the chain of relationship indirect subsidiary at the end of the chain of relationship indirect investor fellow company V01179 Special Purpose Entity (SPE) Participation Details (for all reports, unless otherwise indicated) V01068 Country of registration of the counterpart (only reports [ ], [ ], [ ], [ ], [ ]) V01067 Currency V00005 Original maturity (excluded reports [ ], [ ], [ ], [ ]) V01079 Current value at the reference date (in euros) Pag. 6 di 11

32 CAF Questionnaire ANNUAL STOCK DATA SECTION E - INWARD E1 - Participations of at least 10% of voting power in which the Reporting Agent is acting as Direct Investment Enteprise [ ] Incorporated Enterprise - equity shares with ISIN code [ ] Incorporated Enterprise - equity shares without ISIN code [ ] Other types of companies General Information on the Direct Investor (DI) (for all reports) V01100 DI Id. code V01095 DI Name V01113 DI Country V01084 DI NACE code V00995 V01179 Relationship between Reporting Agent and the counterpart direct investor Special Purpose Entity (SPE) Participation Details (for all reports, unless otherwise indicated) V01062 Percentage of voting power held by the non-resident DI % V01124 Own Funds at Book Value (in euros) (only report [ ]) V00032 ISIN code of Equity Shares issued by the Reporting Agent V01063 Number of ordinary shares held at the reference date by the DI Other Information (for all reports) V00912 Last financial statement (Reporting Agent) (aaaammgg) V01123 Operating profit (Reporting Agent) V01122 Dividends frequency (in euros) V01120 Payable dividend (in euros) Pag. 7 di 11

33 CAF Questionnaire ANNUAL STOCK DATA SECTION E - OTHER INVESTMENTS - INWARD E2 - Other investments - Liabilities [ ] Trade credits with counterparts abroad having fdi direct/indirect/fellow relationship with the reporting agent [ ] Trade credits with counterparts abroad not having fdi direct/indirect/fellow relationship with the reporting agent [ ] Infra group cash pooling account with counterparts abroad having fdi direct/indirect/fellow relationship with the reporting agent [ ] Infra group cash pooling account with counterparts abroad not having fdi direct/indirect/fellow relationship with the reporting agent [ ] Current account and deposits with banks abroad having fdi direct/indirect/fellow relationship with the reporting agent [ ] Current account and deposits with banks abroad not having fdi direct/indirect/fellow relationship with the reporting agent [ ] Loan with counterparts abroad having fdi direct/indirect/fellow relationship with the reporting agent [ ] Loan with counterparts abroad not having fdi direct/indirect/fellow relationship with the reporting agent [ ] Other assets with counterparts abroad having fdi direct/indirect/fellow relationship with the reporting agent [ ] Other assets with counterparts abroad not having fdi direct/indirect/fellow relationship with the reporting agent Register of fdi direct/indirect/fellow relationship (only reports [ ], [ ], [ ], [ ], [ ]) V01078 Identification code V01183 Abroad Enterprise V01068 Counterpart country V01118 Counterpart NACE code V00995 Relationship between Reporting Agent and the counterpart direct associate or subsidiary not at the end of the chain of relationships direct associate or subsidiary at the end of the chain of relationships direct investor indirect subsidiary not at the end of the chain of relationship indirect subsidiary at the end of the chain of relationship indirect investor fellow company V01179 Special Purpose Entity (SPE) Participation Details (for all reports, unless otherwise indicated) V01068 Country of registration of the counterpart (only reports [ ], [ ], [ ], [ ]) V01067 Currency V00005 Original maturity (excluded report [ ]) V01079 Current value at the reference date (in euros) Pag. 8 di 11

34 CAF Questionnaire F1 - FDI OUTWARD - Holdings of Securities issued by counterparts in a FDI relationship with the Reporting Agent with ISIN code [ ] Equities [ ] Debts Instruments without ISIN code ANNUAL STOCK DATA SECTION F - OTHER FDI - INWARD AND OUTWARD [ ] Equities and Shares [ ] Debts Instruments Register of fdi direct/indirect/fellow relationship (for all reports) V01078 Identification code V01183 Abroad Enterprise V01111 Counterpart country V01083 Issuer NACE code V00995 V01179 Relationship between Reporting Agent and the counterpart direct associate or subsidiary not at the end of the chain of relationships direct associate or subsidiary at the end of the chain of relationships direct investor indirect subsidiary not at the end of the chain of relationship indirect subsidiary at the end of the chain of relationship indirect investor fellow company Special Purpose Entity (SPE) Stocks details (for all reports, unless otherwise indicated) V00032 ISIN code (only reports [ ] e [ ]) (only report [ ]) V01063 Number of equities held at the reference date V01121 of which deposited in the reporting economy (only report [ ]) V01117 Nominal value V01119 of which deposited in the reporting economy (in euros) (in euros) V01067 Currency of denomination (only reports [ ] e [ ]) V01079 Value (OFBV for equities; market value for listed debt instruments - book values for unlisted debt instruments) (in euros) Pag. 9 di 11

35 CAF Questionnaire F2 - FDI INWARD - Securities issued by the Reporting Agent and held by counterparts in a FDI relationship with ISIN code [ ] Equities [ ] Debts Instruments without ISIN code [ ] Equities and Shares [ ] Debts Instruments V01078 ANNUAL STOCK DATA SECTION F - OTHER FDI - INWARD AND OUTWARD Register of fdi direct/indirect/fellow relationship (for all reports) Identification code V01183 Abroad enterprise V01068 Country of the holder V01118 NACE code of the holder V00995 V01179 Relationship between Reporting Agent and the counterpart direct associate or subsidiary not at the end of the chain of relationships direct associate or subsidiary at the end of the chain of relationships direct investor indirect subsidiary not at the end of the chain of relationship indirect subsidiary at the end of the chain of relationship indirect investor fellow company Special Purpose Entity (SPE) Stock Details (for all reports, unless otherwise indicated) V00032 ISIN code (only reports [ ] and [ ]) V01063 Number of shares held at the reference date (only report [ ]) V01117 Nominal amount (only report [ ]) (in euros) V01067 Currency of denomination (only reports [ ] and [ ]) V01079 Market value (OFBV for equities, market value for debt instruments) (in euros) Pag. 10 di 11

36 CAF Questionnaire ANNUAL STOCK DATA SECTION G - DERIVATIVES - NET POSITIONS [ ] Net outstanding amount of repayable margins [ ] Contracts value - Assets [ ] Contracts value - Liabilities V01068 V01067 Counterpart Country Currency of denomination Value V01079 (in euros) Pag. 11 di 11

37 OMF Questionnaire MONTHLY FINANCIAL TRANSACTIONS AND POSITIONS 2010 edition Trade credits, loans, deposits, financial derivatives, other FDI transactions Reporting agent code Reference period (ddmmyyyy) [ ] General Information SECTION A - GENERAL INFORMATION V01056 Enterprise Name V01089 Tax Number V01108 Institutional Sector Code V01069 NACE Code V01102 Address V01086 Postal Code V01091 City Code V01115 Enterprise Status 10 - Operative (go to section B) 11 - Non-operative as a result of a merger (go to item [ ]) 12 - Non-operative due to liquidation (go to item [ ]) 13 - Non-operative due to closing down (go to item [ ]) 14 - Non-operative due to other reasons (go to item [ ]) [ ] Non-operative as a result of a merger V01060 Event Date (yyyymmdd) V01057 Name of the Acquirer V01088 Tax Number of the Acquirer (if resident) V01112 Country Code [ ] Non-operative due to other reasons V01060 Event Date (yyyymmdd)

38 OMF Questionnaire SECTION B - FINANCIAL STATEMENT DATA [ ] Financial Statement of the Reporting Agent V01103 Number of Employees V00912 Date of last approval of the financial statement V01105 Accounting Principles National GAAP IAS / IFRS Other V01085 Total Asset V01098 Turnover V01104 Net Equity V01106 Net Profit after Taxes (in euros) (in euros) (in euros) (in euros) V00995 Is the reporting agent part of an enteprise group? Yes and the reporting agent is the Ultimate Parent Company (go to item [ ]) Yes and the reporting agent is not the Ultimate Parent Company (go to item [ ]) No (go to section C) [ ] Information on the Ultimate Parent Company V01092 Ultimate Parent Company Name V01109 Ultimate Parent Company Country Code V01087 Ultimate Parent Company Tax Number

39 OMF Questionnaire [ ] Contact Person SECTION C - CONTACT PERSON V01031 First Name V01030 Last Name V V01116 Phone number V01099 Fax number V01094 Enterprise Name V01080 Functional Area / Department V01102 Address V01086 Postal Code V01090 City Code

40 Rilevazione OMF D3 - Outward BANCA D'ITALIA Questionario OMF MONTHLY FINANCIAL TRANSACTIONS AND POSITIONS SECTION D - ASSETS Positions [ ] Trade credits vis-à-vis non-resident counterparts [ ] Infra group cash pooling account with counterparts abroad having fdi direct/indirect/fellow relationship with the reporting agent [ ] Infra group cash pooling account with counterparts abroad not having fdi direct/indirect/fellow relationship with the reporting agent [ ] Current account and deposits with banks abroad having fdi direct/indirect/fellow relationship with the reporting agent [ ] Current account and deposits with banks abroad not having fdi direct/indirect/fellow relationship with the reporting agent [ ] Other assets with counterparts abroad having fdi direct/indirect/fellow relationship with the reporting agent [ ] Other assets with counterparts abroad not having fdi direct/indirect/fellow relationship with the reporting agent Transactions [ ] Loan with counterparts abroad (paybacks and allocations) having fdi direct/indirect/fellow relationship with the reporting agent [ ] Loan with counterparts abroad (paybacks and allocations) not having fdi direct/indirect/fellow relationship with the reporting agent Register of fdi direct/indirect/fellow relationship (only reports [ ], [ ], [ ], [ ]) V01078 Identification code V01183 Abroad Enterprise V01068 Counterpart country V01118 Counterpart NACE code V00995 V01179 Relationship between Reporting Agent and the counterpart direct associate or subsidiary not at the end of the chain of relationships direct associate or subsidiary at the end of the chain of relationships direct investor indirect subsidiary not at the end of the chain of relationship indirect subsidiary at the end of the chain of relationship indirect investor fellow company Special Purpose Entity (SPE) Stock/transaction details V01068 Country of registration of the counterpart (only reports [ ], [ ], [ ], [ ]) V01067 Currency of denomination (excluded report [ ]) V01079 Position at the end of the reference period (excluded reports [ ], [ ]) (in euros) (only reports [ ], [ ]) V04009 Flow direction (in case of many operations of some kind, even having opposite sign, please report net flow) Taking (payback) Payment (allocation) V01054 Value of the transaction V01180 Interests (in euros) (in euros) Pag. 4 di 8

41 Rilevazione OMF BANCA D'ITALIA Questionario OMF MONTHLY FINANCIAL TRANSACTIONS AND POSITIONS SECTION E - LIABILITIES E2 - Inward Positions [ ] Trade credits vis-à-vis non-resident counterparts [ ] Current account and deposits held at the reporting agent from non-resident counterparts having fdi direct/indirect/fellow relationship with the reporting agent [ ] Other liabilities to non-resident counterparts having fdi direct/indirect/fellow relationship with the reporting agent [ ] Other liabilities to non-resident counterparts not having fdi direct/indirect/fellow relationship with the reporting agent Transactions [ ] Syndacated loans (paybacks and allocations) received from non-resident counterparts having fdi direct/indirect/fellow relationship with the reporting agent [ ] Syndacated loans (paybacks and allocations) received from non-resident counterparts not having fdi direct/indirect/fellow relationship with the reporting agent [ ] Other loans (paybacks and allocations) received from non-resident counterparts having fdi direct/indirect/fellow relationship with the reporting agent [ ] Other loans (paybacks and allocations) received from non-resident counterparts not having fdi direct/indirect/fellow relationship with the reporting agent Register of fdi direct/indirect/fellow relationship (only reports [ ], [ ], [ ], [ ]). V01078 Identification code V01183 Abroad Enterprise V01068 Counterpart country V01118 Counterpart NACE code V00995 V01179 Relationship between Reporting Agent and the counterpart direct associate or subsidiary not at the end of the chain of relationships direct associate or subsidiary at the end of the chain of relationships direct investor indirect subsidiary not at the end of the chain of relationship indirect subsidiary at the end of the chain of relationship indirect investor fellow company Special Purpose Entity (SPE) Stock/transaction details V01068 Country of registration of the counterpart (only reports [ ], [ ], [ ]) V01067 Currency of denomination (excluded report [ ]) V01079 Position at the end of the reference period (only reports [ ], [ ], [ ], [ ]) (in unità di euro) (only reports [ ], [ ], [ ], [ ]) V04009 Flow direction (in case of many operations of some kind, even having opposite sign, please report net flow) Taking (payback) Payment (allocation) V01054 Value of the transaction V01180 Interests (in euros) (in euros) Pag. 5 di 8

42 OMF Questionnaire MONTHLY FINANCIAL TRANSACTIONS AND POSITIONS SECTION F - OTHER FDI - INWARD AND OUTWARD F1 - FDI OUTWARD - Holdings of Securities issued by counterparts in a FDI relationship with the Reporting Agent with Isin code [ ] Equities [ ] Debt instruments without Isin code [ ] Equities and shares [ ] Debt instruments Register of fdi direct/indirect/fellow relationship (for all reports) V01078 Identification code of the counterpart V01183 Abroad Enterprise of the counterpart V01111 Country of the foreign counterepart V01083 NICE code of the counterpart V00995 V01179 Relationship between Reporting Agent and the counterpart direct associate or subsidiary not at the end of the chain of relationships direct associate or subsidiary at the end of the chain of relationships direct investor indirect subsidiary not at the end of the chain of relationship indirect subsidiary at the end of the chain of relationship indirect investor fellow company Special Purpose Entity (SPE) Details of transactions (for all reports, unless otherwise indicated) V00032 Isin code (only reports [ ] and [ ]) V04009 Flow direction (in case of many operations of some kind, even having opposite sign, please report net flow) Securities purchase Securities sale (only report [ ]) V01063 Number of ordinary shares held at the reference date V01121 of which deposited shares in central depository (only report [ ]) V01117 Nominal value V01119 of which deposited in the reporting economy (in euros) (in euros) V01067 Currency of denomination (only reports [ ] and [ ]) V01054 Amount (in euros) Pag. 6 di 8

43 OMF Questionnaire MONTHLY FINANCIAL TRANSACTIONS AND POSITIONS SECTION F - OTHER FDI - INWARD AND OUTWARD F2 - FDI INWARD - Securities issued by the Reporting Agent and held by counterparts in a FDI relationship with Isin code [ ] Equities [ ] Debt instruments without Isin code [ ] Equities and shares [ ] Debt instruments Register of fdi direct/indirect/fellow relationship (for all reports) V01078 Identification code of the holder V01183 Abroad Enterprise of the holder V01068 Country of the holder V01118 NICE code of the holder V00995 V01179 Link between reporting company and foreign company direct associate or subsidiary not at the end of the chain of relationships direct associate or subsidiary at the end of the chain of relationships direct investor indirect subsidiary not at the end of the chain of relationship indirect subsidiary at the end of the chain of relationship indirect investor fellow company Special Purpose Entity (SPE) Details of transactions (for all reports, unless otherwise indicated) V00032 Isin code (only reports [ ] and [ ]) V04009 Flow direction (in case of many operations of some kind, even having opposite sign, please report net flow) Securities purchase Securities sale V01063 Number of ordinary shares held at the reference date (only report [ ]) V01117 Nominal value of debt instruments (only report [ ]) (in euros) V01067 Currency of denomination (only reports [ ] and [ ]) V01054 Value (in euros) Pag. 7 di 8

44 Rilevazione OMF SECTION G - DERIVATIVES - NET FLOWS BANCA D'ITALIA Questionario OMF MONTHLY FINANCIAL TRANSACTIONS AND POSITIONS [ ] Initial margins and other repayable margins [ ] Non-repayable margins, premiums, net payments during and at the close of the contract V01068 Counterpart country V01067 Currency of denomination V01054 Value (net flows in euros) Pag. 8 di 8