TABLE A GOVERNMENT BOND SINKING FUND STATEMENT OF RECEIPTS IN THE BALANCE SHEET

Transcription

1 TABLE A GOVERNMENT BOND SINKING FUND STATEMENT OF RECEIPTS IN THE BALANCE SHEET Source Date of budgeting Balance sheet value Balance sheet Date of transfer (reason) ( Italian format ) (in Italian lire) item to Account 522 at BI IMI Privatization 16 and 17/02/1994 1,593,103,243, /23/94 7/7/95 913,352,425, /1/95 7/15/96 493,395,762, /10/96 INA Privatization from 13/07 to 11/10/94 4,327,460,413, /23/94 2/15/95 2,080,743, /8/95 10/31/95 1,682,364,679, /29/95 ENI Privatization from 5 to 29/12/95 5,755,868,222, /18/96 from 5 to 29/11/96 7,286,110,942, /3/97 12/12/96 1,157,824,023, /3/97 12/24/96 288,802,709, /21/97 3/21/97 3,075,508, /21/97 5/12/97 1,785,363, /6/97 5/20/97 35,266,371, /6/97 from 8 to 15/07/97 12,845,480,274, /6/97 Stamp-tax adjustment on ENI 3 contract notes 7/29/97 126,794, /15/97 San Paolo Torino privatization 6/3/97 277,407,222, /6/97 TELECOM privatization 11/4/97 15,932,385,130, /21/97 11/6/97 3,946,811,336, /21/97 SEAT S.p.A. privatization 11/25/97 1,630,617,962, /25/98 Sale of Banco di Napoli rights 12/4/97 662,032, /14/98 San Paolo To privatization (final balance) 12/16/97 58,103, /8/98 Sale of immovable property December ,975,028, /14/98 Telecom privatization ( greenshoe) 1/7/98 2,442,605,318, /8/98 Telecom share loan 1/7/98 2,927,342, /8/98 Banco di Napoli 1/22/98 47,203,635, /14/98 ENI 2: release of amounts under attachment 27 and 29 /01/98 5,568,430, /8/ loan installment convertible into INA shares 2/16/98 15,000, /29/98 Balance of SEAT S.p.A. shares 5/12/98 10,453,706, /12/99 Mor. Stanley VAT erroneous payment Telecom privatiz. 6/16/98 5,864,414, /29/98 ENI 4 7/7/98 11,556,696,141, /29/98 ENI 4 ( greenshoe) 7/27/98 1,141,296,827, /29/98 ENI share loan 7/27/98 474,423, /29/98 Securities converted into INA shares 7/30/98 1,103,358,056, /29/98 BNL privatization global offer 12/1/98 3,454,061,883, /17/98 BNL privatization firm core 12/3/98 2,576,190,167, /17/98 Reimbursement of ENI 4 commissions and related interests 12/21/98 416,515, /21/99 Transfer authoriz.no (provision for charges) 12/21/98 106,311,349, /2/99 BNL greenshoe privatization 1/4/99 547,108,649, /21/99 Securities converted into INA shares 3/10/99 981,863,333, /6/99 BNL privatiz. (int. accrued in escrow account) 6/10/99 269,187, /15/99 Securities converted into INA shares 8/17/99 236,624,888, /22/00 ENEL privatization 11/5/99 29,712,888,732, /9/99 Transfer with no specific reason 12/13/99 2,583,370, /28/00 ENEL greenshoe privatization 12/14/99 1,710,239,934, /14/00 Mediocredito Centrale privatization 12/17/99 3,904,019,148, /14/00 UNIM privatization 1/12/00 41,846,754, /14/00 Securities converted into INA shares 2/17/00 1,193,346,821, /19/00 Banca CIS privatization 5/25/00 42,035,000, /28/00 BNL privatization (global offer) 7/17/00 130,154, /22/00 Meliorbanca privatization 7/27/00 28,978,125, /22/00 Mediocredito Lombardo privatization 9/28/00 74,915,591, waiting to be transferred Securities converted into INA shares 9/26/00 34,668,914, waiting to be transferred Banco Napoli - SANPAOLO take-over bid 12/1/00 955,747,728, waiting to be transferred IRI - advance of settlement 11/27/00 8,000,000,000, waiting to be transferred Assignment of UMTS licenses (90%) 12/11/00 20,736,000,000, /15/00 Total receipts from privatizations 148,832,723,842,314 Profits and dividends Jan-Dec ,417,497, /16/95 Feb ,196,011, /4/95 Voluntary deposits Jan-Dec ,700, /1/95 Jan-Dec ,016, /18/96 Jan-Dec1996 8,704, /21/97 Jan-Dec ,766, /14/98 Jan-Dec ,500, waiting to be transferred Other Jan-Dec ,826,950, /18/97 Jan-Dec ,714,038, withdrawn with no reason Extraordinary provision (Enel reserves) 11/10/99 4,421,950,200, /19/99 Extraordinary provisions (IRI reserves) 13/12/99 2,107,469,517, waiting to be transferred Reimb.from bal. sheet for erroneous paym. bonds blocked dec ,873,900 account Dec General total receipts 155,445,446,617,037 Major emissions (ex provisions) 5,961,000,000,000 10/16/95

2 TABLE - B GOVERNMENT BOND SINKING FUND MOVEMENTS TRANSFERS UTILIZATIONS (Italian format) (Italian lire) (Italian format) (Italian lire) Amounts transferred on 23/12/94 5,920,563,657,000 Cost of 1st auction buyback on 30/11/95 3,197,076,913,106 Amounts transferred on 23/12/95 2,080,743,000 Cost of 2nd auction buyback on 21/12/95 2,629,440,576,075 Amounts transferred on 23/12/95 913,365,125,000 Cost of 3rd auction buyback on 24/06/96 2,249,336,661,480 Amounts transferred on 23/12/95 6,035,417,497,512 Cost of 4th auction buyback on 03/11/96 6,814,171,541,171 Amounts transferred on 23/12/95 2,196,011,000 Cost of 5th auction buyback on 19/12/97 2,908,594,989,200 Amounts transferred on 23/12/95 1,682,364,679,000 Cost of 6th auction buyback on 24/11/99 7,245,638,985,959 Amounts transferred on23/12/96 5,755,870,238,000 Cost of 7th auction buyback on 25/05/00 5,157,078,857,221 Amounts transferred on 23/12/96 493,395,762,000 Redemption of 01/10/ BTP 4,500,000,000,000 Amounts transferred on 23/12/97 8,443,934,966,000 Redemption of 20/11/ CTO 4,442,672,520,900 Amounts transferred on 23/12/97 3,075,508,000 Redemption of 01/12/ BTP 14,913,300,000,000 Amounts transferred on 23/12/97 288,811,413,000 Redemption of 30/10/ CTZ 10,616,334,852,500 Amounts transferred on 23/12/97 13,159,939,231,000 Redemption of 01/11/ BTP 3,398,929,000,000 Amounts transferred on 23/12/97 126,794,000 Redemption CTZ 30/06/97-30/12/98 6,000,001,345,000 Amounts transferred on 23/12/97 19,879,196,467,000 Redemption of 01/11/92-01/11/99 CCT 1,832,586,129,973 Amounts transferred on 23/12/97 3,826,950,000 Redemption of 22/11/94-22/11/99 CTE 2,893,742,097,423 Amounts transferred on 23/12/98 1,630,617,962,000 Redemption of 01/12/94-01/12/99 BTP 12,663,347,503,577 Amounts transferred on 23/12/98 2,445,590,764,000 Redemption of 15/12/97-15/12/99 CTZ 11,357,955,930,401 Amounts transferred on 23/12/98 5,568,430,000 Advance redemption (M.D ) as at ,818,583,843 Amounts transferred on 23/12/98 49,849,462,000 Advance redemption (M.D ) as at ,347,552,689 Amounts transferred on 23/12/98 13,807,704,863,000 Advance redemption (M.D ) as at ,975,386 Amounts transferred on 23/12/98 6,030,252,050,000 Redemption Enel unsettled account 251 Amounts transferred on 23/12/99 547,525,165,000 Buyback through the Bank of Italy 31/10/96 1,498,681,726,000 Amounts transferred on 23/12/99 106,311,349,000 Buyback through the Bank of Italy 31/12/96 653,268,792,000 Amounts transferred on 23/12/99 981,863,333,000 Buyback by mandate settled on 23/11/00 2,926,952,664,307 Amounts transferred on 23/12/99 29,712,888,732,251 Buyback by mandate settled on 07/12/00 874,312,083,672 Amounts transferred on 23/12/99 4,421,950,200,000 Buyback by mandate settled on 29/12/00 12,993,564,091,081 Amounts transferred on 23/12/99 269,187,000 1st payment of STET shares on 27/12/96 3,000,000,000,000 Amounts transferred on 23/12/99 10,453,706,000 2nd payment of STET shares on 12/03/97 6,300,000,000,000 Amounts transferred on 23/12/99 113,873,900 3rd payment of STET shares on 16/06/97 2,200,000,000,000 Amounts credited on 31/01/00 2,959,100 4th payment of STET shares on 17/12/97 5,000,000,000,000 Amounts credited on 21/02/00 179,835,260 5th payment of STET shares on 02/01/98 2,595,412,770,693 Amounts credited on 07/04/00 68,961,430 6th payment of STET shares on 02/04/98 1,500,000,000,000 Amounts transferred on 14/04/00 7,763,575,354,000 7th payment of STET shares on 18/06/98 4,043,961,497,240 Amounts transferred on 19/07/00 1,193,346,821,000 8th payment of STET shares on 24/07/98 21,115,902,857 Amounts transferred on 28/09/00 44,618,500,000 Amounts transferred on 15/12/00 20,736,000,000,000 Amounts transferred on 22/12/00 29,108,279,000 Amounts transferred on 22/12/00 236,624,888,000 Interest accrued on 01/01/95 4,113,232,930 Interest accrued on 01/07/95 278,068,323,814 Interest accrued on 01/01/96 446,700,478,431 Interest accrued on 01/07/96 649,374,315,524 Interest accrued on 01/01/97 454,499,883,934 Interest accrued on 01/07/97 126,377,871,877 Interest accrued on 01/01/98 182,795,290,145 Interest accrued on 01/07/98 66,131,694,233 Interest accrued on 01/01/99 82,885,368,857 Interest accrued on 01/07/99 7,221,915,781 Interest accrued on 01/01/00 71,373,060,453 Interest accrued on 01/07/00 36,155,277,706 Sinking Fund Flows 154,744,346,430,138 Total Fund Utilization 146,574,904,544,005 Total amounts in the Fund as at 31/12/00 Total amounts in the Fund as at 31/12/00 in euros L. 8,169,441,886,133 4,219,164,623.80

3 TABLE - C MOVEMENTS OF SINKING FUND BROKEN DOWN BY YEAR (Values expressed in Italian Lire) TRANSFERS (Italian format) UTILIZATIONS (Italian format) 1994 Total Cost of 1st auction buyback on 30/11/95 3,197,076,913, Total Amounts transferred on 23/12/94 5,920,563,657,000 5,920,563,657,000 Cost of 2nd auction buyback on 21/12/95 2,629,440,576,075 5,826,517,489,181 Amounts transferred on 08/06/95 2,080,743,000 Cost of 3rd auction buyback on 24/06/96 2,249,336,661,480 Amounts transferred on 01/09/95 913,365,125,000 Buyback through the Bank of Italy 31/10/96 1,498,681,726,000 Amounts transferred on 16/10/95 6,035,417,497,512 Buyback through the Bank of Italy 31/12/96 653,268,792,000 Amounts transferred on 04/12/95 2,196,011, Total Redemption of 01/10/1993/96 BTP 4,500,000,000,000 Amounts transferred on 29/12/95 1,682,364,679,000 8,635,424,055,512 Redemption of 20/11/1990/96 CTO 4,442,672,520, Total Amounts transferred on 18/03/96 5,755,870,238, Total 1st payment of STET shares on 27/12/96 3,000,000,000,000 16,343,959,700,380 Amounts transferred on 10/09/96 493,395,762,000 6,249,266,000,000 2nd payment of STET shares on 12/03/97 6,300,000,000,000 Amounts transferred on 06/02/97 8,443,934,966,000 3rd payment of STET shares on 16/06/97 2,200,000,000,000 Amounts transferred on 01/04/97 3,075,508,000 Cost of 4th auction buyback on 03/11/97 6,814,171,541,171 Amounts transferred on 01/04/97 288,811,413,000 Redemption of 01/12/1994/97 BTP 14,913,300,000,000 Amounts transferred on 15/10/97 13,159,939,231,000 4th payment of STET shares on 17/12/97 5,000,000,000, Total Amounts transferred on 30/10/97 126,794,000 Cost of 5th auction buyback on 19/12/97 2,908,594,989,200 35,227,471,541,171 Amounts transferred on 21/11/97 19,879,196,467, Total 5th payment of STET shares on 02/01/98 2,595,412,770,693 Amounts transferred on 18/12/97 3,826,950,000 41,778,911,329,000 6th payment of STET shares on 02/04/98 1,500,000,000,000 Amounts transferred on 25/02/98 1,630,617,962,000 7th payment of STET shares on 18/06/98 4,043,961,497,240 Amounts transferred on 08/06/98 2,445,590,764,000 8th payment of STET shares on 24/07/98 21,115,902,857 Amounts transferred on 08/06/98 5,568,430,000 Redemption of 30/10/1996/98 CTZ 10,616,334,852,500 Amounts transferred on 14/09/98 49,849,462,000 Redemption of 01/11/1995/98 BTP 3,398,929,000,000 Amounts transferred on 29/09/98 13,807,704,863, Total Redemption of 30/06/97-30/12/98 CTZ 6,000,001,345, Total Amounts transferred on 17/12/98 6,030,252,050,000 23,969,583,531,000 Advanced redemption (M.D ) as at ,818,583,843 28,321,573,952,133 Amounts transferred on 21/05/99 547,525,165,000 Advanced redemption (M.D ) as at ,347,552,689 Amounts transferred on 02/06/99 106,311,349,000 Redemption of Enel suspended account 251 Amounts transferred on 06/10/99 981,863,333,000 Redemption of 01/11/92-01/11/99 CCT 1,832,586,129,973 Amounts transferred on 09/11/99 29,712,888,732,251 Redemption of 22/11/94-22/11/99 CTE 2,893,742,097,423 Amounts transferred on 19/11/99 4,422,219,387,000 Redemption of 01/12/94-01/12/99 BTP 12,663,347,503,577 Amounts transferred on 21/12/99 10,453,706, Total Redemption of 15/12/97-15/12/99 CTZ 11,357,955,930, Total Amounts transferred on 21/12/99 113,873,900 35,781,375,546,151 Cost of 6th auction buyback on 24/11/99 7,245,638,985,959 35,993,270,647,584 Amounts transferred on 31/01/00 2,959,100 Cost of 7th auction buyback on 25/05/00 5,157,078,857,221 Amounts transferred on 21/02/00 179,835,260 Advanced redemption (M.D ) as at ,975,386 Amounts transferred on 07/04/00 68,961,430 Buyback by mandate settled on 23/11/00 2,926,952,664,307 Amounts transferred on 14/04/00 7,763,575,354,000 Buyback by mandate settled on 07/12/00 874,312,083, Total Amounts transferred on 19/07/00 1,193,346,821,000 Buyback by mandate settled on 29/12/00 12,993,564,091,081 29,197,807,657,626 Amounts transferred on 28/09/00 44,618,500,000 Amounts transferred on 15/12/00 20,736,000,000,000 Amounts transferred on 22/12/00 29,108,279,000 Amounts transferred on 22/12/00 236,624,888,000 Total transfers 152,338,649,716,453 INTERESTS Interests accrued as at 01/01/95 4,113,232, Total Interests accrued as at 01/07/95 278,068,323, ,181,556,744 Interests accrued as at 01/01/96 446,700,478, Total Interests accrued as at 01/07/96 649,374,315,524 1,096,074,793,955 Interests accrued as at 01/01/97 454,499,883, Total Interests accrued as at 01/07/97 126,377,871, ,877,755,811 Interests accrued as at 01/01/98 182,795,290, Total Interests accrued as at 01/07/98 66,131,694, ,926,984,378 Interests accrued as at 01/01/99 82,885,368, Total Interests accrued as at 01/07/99 7,221,915,781 90,107,284,638 Interests accrued as at 01/01/00 71,373,060, Total Interests accrued as at 01/07/00 36,155,277, ,528,338,159 Total interests 2,405,696,713,685 Sinking Fund Flows 154,744,346,430,138 Total Fund Utilization 146,574,904,544,005

4 YEAR 2000 SUMMARY OF BUYBACK TRANSACTIONS Operation settlement date Security type (Italian format) Security code number Nominal interest rate o spread Buyback ( Nominal Values in million euros ) Auction (A) Mandate to specialized operators (B) May 25, /01 B.T.P ,099 May 25, /01 B.T.P May 25, /03 C.C.T May 25, /04 C.C.T Nov 23, /01 B.T.P Nov 23, /01 C.C.T Nov 23, /01 C.T.Z Nov 23, / B.O.T Dec 7, /01 B.T.P Dec 7, /03 B.T.P Dec 7, /01 B.T.P Dec 7, /01 C.C.T Dec 7, /01 C.T.Z Dec 29, / B.O.T Dec 29, /01 C.T.Z Dec 29, / C.T.Z Dec 29, /01 C.C.T Dec 29, /02 C.C.T Dec 29, /02 C.C.T Dec 29, /02 C.C.T Dec 29, /03 C.C.T Dec 29, /03 C.C.T Dec 29, /03 C.C.T Dec 29, /04 C.C.T Dec 29, /01 B.T.P Dec 29, /02 B.T.P Dec 29, /02 B.T.P Dec 29, /02 B.T.P Dec 29, /02 B.T.P Dec 29, /03 B.T.P Dec 29, /03 B.T.P Dec 29, /03 B.T.P Dec 29, /03 B.T.P Dec 29, /03 B.T.P Dec 29, /04 B.T.P Dec 29, /04 B.T.P Dec 29, /04 B.T.P TOTAL 2, ,641.1 TOTAL BUYBACK (A+B) 11,275.1 TOTAL BTP 2,044 5,309 TOTAL CCT 590 2,359 TOTAL CTZ TOTAL BOT 57.5

5 TABLE - E "Government Bond Sinking Fund" FISCAL YEAR 2000 FINANCIAL STATEMENT Transfers by mandate for the year 2000 ITEM 9565 Amounts available at 31/12/99 10,556,621,851 Utilization for the year 2000 (Italian format) fiscal year 2000 interests 2000* Cost of auction buyback on 25/05/00 5,157,078,857,221 2,959,100 71,373,060,453 Buyback by mandate settled on 23/11/00 2,926,952,664, ,835,260 36,155,277,706 Buyback by mandate settled on 07/12/00 874,312,083,672 68,961,430 Buyback by mandate settled on 29/12/00 12,993,564,091,081 7,763,575,354,000 Advan. Redem.(D.M ) for ,975,386 1,193,346,821,000 44,618,500,000 20,736,000,000,000 29,108,279, ,624,888,000 TOTAL (a) TOTAL (b) 30,003,525,597, ,528,338,159 Total increases (a)+(b) 30,111,053,935,949 Total cost for the year (utilization of Fund) 21,952,168,671,667 Total transfers Amounts Incr. Total amounts in the Fund as at 31/12/00 30,003,525,597,790 30,121,610,557,800 8,169,441,886,133 Nominal or redeemed Daily interest rates paid capital through the Fund Provv. Or commissions Cost of Fund Fund's total reductions 5,100,135,180,000 67,026,609,619 5,157,078,857,221 21,952,168,671,667 2,906,341,270,000 29,985,882,999 2,926,952,664, ,642,587,000 11,266,395, ,312,083,672 12,957,518,840, ,498,159,568 12,993,564,091,081 Capital repaid 235,700,000 6,130,103 34, ,975,386 21,831,873,577,000 Difference 21,831,873,577, ,783,177,627 34,710 21,952,168,671, ,295,094,667 * Interests are directly deposited in the account No. 522 held in the name of the Fund at the Bank of Italy on January 1st and July 1st of each year

6 GOVERNMENT BOND SINKING FUND - Management (nominal values) CTZ Buyback mln. BOT Buyback 57.5 mln. CCT Buyback 2,949 mln. BTP Buyback 7,353 mln.

7 GOVERNMENT BOND SINKING FUND - Management Advance redemption 261 mln. lire Auction buying 5,157 mld. lire Buying by mandate 16,795 mld. lire

8 THE TREASURY'S BUYBACKS ON SECURITIES MATURING IN 2001 (nominal values in mln. uros) 40,000 35,000 30,000 25,000 mln. 20,000 15,000 10,000 5,000 - Jan-01 Feb-01 Mar-01 Apr-01 May-01 Jun-01 Jul-01 Aug-01 Sep-01 Oct-01 Nov-01 Dec-01 bot btp cct ctz cte foreign currency debt Treasury buyback

9 THE TREASURY'S BUYBACKS ON SECURITIES MATURING IN 2002 (nominal values in mln. euros) 25,000 20,000 mln. 15,000 10,000 5,000 - Jan-02 Feb-02 Mar-02 Apr-02 May-02 Jun-02 Jul-02 Aug-02 Sep-02 Oct-02 Nov-02 Dec-02 BTP CCT CTZ foreign currency debt FS Treasury buyback

10 THE TREASURY'S BUYBACKS ON SECURITIES MATURING IN 2003 (nominal values in mln. uros) 30,000 25,000 20,000 mln. 15,000 10,000 5,000 - Jan-03 Feb-03 Mar-03 Apr-03 May-03 Jun-03 Jul-03 Aug-03 Sep-03 Oct-03 Nov-03 Dec-03 BTP CCT Treasury buyback

11 THE TREASURY'S BUYBACKS ON SECURITIES MATURING IN 2004 (nominal values in mln. uros) 25,000 20,000 15,000 mln. 10,000 5,000 - Jan-04 Feb-04 Mar-04 Apr-04 May-04 Jun-04 Jul-04 Aug-04 Sep-04 Oct-04 Nov-04 Dec-04 BTP CCT FS Foreign currency debt Treasury buyback