1.1 Interest receivable and similar income: breakdown
|Composition||Debt securities||Loans||Other assets||31.12.2014||31.12.2013|
|1||Financial assets held for trading||-||-||-||-||-|
|2||Financial assets at fair value||-||-||-||-||-|
|3||Available for sale financial assets||28.090||-||-||28.090||49.756|
|4||Financial assets held to maturity||119.873||-||-||119.873||149.340|
|5||Due from banks||50||1.488||2.544||4.082||6.890|
|6||Loans to customers||-||93.451||66.223||159.674||139.760|
The slight decrease from 2013 was due to the lower interest income from debt securities in the portfolio as a result of their reduction.
Available for sale financial assets include 2,4 million Euro in both actual interest accrued on debt securities classified in this category and the recognition through profit or loss of the valuation reserve relating to the securities transferred to the portfolio of held to maturity financial assets. Said reserve, calculated at the time of the transfer, is recognised through profit or loss under the amortised cost method until the securities reach maturity.
The sub-item Loans to customers, Other assets, includes 22,2 million Euro in interest on arrears due from the Public Administration recognised by the Pharma business area. Starting from 2014, interest on arrears includes a portion (one million Euro in the period) of the interest accruing from the estimated collection date on receivables from the Health Service: the Bank, based on historical data and available information, estimates that at least 20% can be recovered.
Please note that at 31 December 2014, interests on arrears accrued on amounts due from the Public Administration, calculated from the invoice's original maturity, relate to receivables already settled (49,1 million Euro) and outstanding receivables (39,0 million Euro).
1.3 Interest receivable and similar income: other information
1.3.1 Interest income on foreign currency financial assets
|Interest income on financial assets in currency||1.305||1.147|
1.4 Interest due and similar expenses: breakdown
|1||Due to Central banks||-||X||(3.277)||(3.277)||(3.627)|
|2||Due to banks||(156)||X||-||(156)||(198)|
|3||Due to customers||(84.816)||X||(4.781)||(89.597)||(134.810)|
|5||Financial liabilities held for trading||-||-||-||-||-|
|6||Financial liabilities at fair value||-||-||-||-||-|
|7||Other liabilities and provisions||X||X||(168)||(168)||(137)|
Interest expense on payables due to central banks and customers concerning “other assets” refers to repurchase agreements on the MTS platform or through Eurosystem Auctions entered into during the year.
At 31 December 2014, Interest expense on payables due to customers classified under "debts" referred to the rendimax savings account for 83,0 million Euro, compared with 123,9 million Euro at 31 December 2013, as interest rates gradually declined throughout the year.
1.5 Interest due and similar expenses: spreads on hedging transactions
Voci/Valori 31.12.2014 31.12.2013 A. Premium spreads on hedging transactions:
B. Discounts spreads on hedging transactions:
C. Balance (A-B)
1.6 Interest due and similar expenses: other information
1.6.1 Interest expense on foreign currency liabilities
|Interest expense on liabilities in currency||(125)||(41)|
1.6.2 Interest expense on liabilities for financial leasing
|Interest payable on liabilities for financial leasing||(177)||(91)|