1.1 Interest receivable and similar income: breakdown
|Items/Types||Debt securities||Loans||Other transactions||31.12.2016||31.12.2015|
|1||Financial assets held for trading||-||-||-||-||-|
|2||Financial assets at fair value||-||-||-||-||-|
|3||Available for sale financial assets||11,083||-||-||11,083||43,991|
|4||Held to maturity financial assets||-||-||-||-||22,110|
|5||Due from banks||-||35||428||463||444|
|6||Loans to customers||27||100,754||213,018||313,799||183,550|
The decline in interest on financial assets compared to 2015 was essentially the result of the reduction in interest income from the debt securities portfolio—largely because of the rebalancing completed in April 2015 as well as the downsizing of the portfolio itself.
The subline item Loans to customers, Other transactions, include the 15,8 million Euro positive effect of the implementation of the new model to estimate the cash flows of health service receivables. This was recognised under interest income and commented on in the introductory notes on how to read the data of the Directors’ Report and Part A of these Notes. It also included 3,1 million Euro in positive interest expense attributable to the decline in funding rates.
1.3 Interest receivable and similar income: other information
1.3.1 Interest income on foreign currency financial assets
|Interest income on foreign currency financial assets||10,324||1,950|
1.3.2 Interest income on finance leases
|Interest income on finance leases||3,039||-|
1.4 Interest due and similar expenses: breakdown
|1||Due to Central banks||(22)||X||(1,879)||(1,901)||(303)|
|2||Due to banks||(1,467)||X||-||(1,467)||(325)|
|3||Due to customers||(50,124)||X||(4)||(50,128)||(40,936)|
|5||Financial liabilities held for trading||-||-||-||-||-|
|6||Financial liabilities at fair value||-||-||-||-||-|
|7||Other liabilities and provisions||X||X||(320)||(320)||(20)|
Interest expense on outstanding securities included 3,0 million Euro in funding costs for the securitisations carried out in late 2016, as detailed in Part E of these Notes.
Interest expense on payables due to customers related to the “payables” category at 31 December 2016 referred for 49,1 million Euro to the rendimax savings account, up from 39,8 million Euro at 31 December 2015, as a result of the newly introduced 3-, 4- and 5-year maturities as well as some promotional campaigns aiming to boost funding levels ahead of the finalisation of the former GE Capital Interbanca Group acquisition.
1.6 Interest due and similar expenses: other information
1.6.1 Interest expense on foreign currency liabilities
|Interest expense on foreign currency liabilities||(293)||(183)|
1.6.2 Interest expense on liabilities for finance leases
|Interest expense on liabilities for finance leases||(64)||(141)|