AFD - 2019 Universal registration document

CONSOLIDATED FINANCIAL STATEMENTS PREPARED IN ACCORDANCE WITH IFRS 6 Notes to the consolidated financial statements

6.2.3.2.9 Cash flow statement principles The cash flow statement analyses changes in the cash position resulting from operating, investment and financing transactions from one year to the next. AFD’s cash flow statement is presented in accordance with ANC Recommendation No. Ǿ 2017-02 respecting the format of summary statements for institutions in the banking sector drawn up in accordance with international accounting standards. It is prepared using the indirect method, with net income restated for non-monetary items: provisions for the depreciation of property, plant and equipment and the amortisation of intangible assets, net allocations to provisions and other transfers not involving cash disbursement, such as accrued liabilities and income.

Cash flows arising from operating, investment and financing transactions are calculated as the difference between items in the accounts for the preceding and current financial years. Cash flow includes cash funds and demand deposits held at the Banque de France and with credit institutions. 6.2.4 Notes to the fi nancial statements at 31 b December b 2019 The comparative data at 31 Ǿ December Ǿ 2018 and the accounting principles applied to this comparative data are available in the Group’s consolidated financial statements at 31 Ǿ December Ǿ 2018. For financial instruments, the comparative data for the 2018 financial year presented against the 2019 data remain in accordance with the provisions of IFRS 9.

6.2.4.1 Notes to the Balance Sheet NOTE 1 Financial assets and liabilities at fair value through profit and loss

31/12/2019

31/12/2018

Notional/ Outstanding

Notional/ Outstanding

Notes

Assets Liabilities

Assets Liabilities

In thousands of euros

Interest rate derivatives

1.1 1.1

374

11,550 568,885

2,827

12,576 603,387

Foreign exchange derivatives

65,402 268,707 4,993,202

81,970 320,503 4,914,717

Derivatives at fair value through profit and loss Debt securities that do not meet the SPPI criteria

77,917

77,474 1,284,569 115,914

1,091,157 2,129,819

1.2 2,594,420

2,552,997 2,212,564

CVA/DVA

32

1,967

-

112

6,080

-

TOTAL

2,738,146 359,698 9,399,652 2,413,386 339,159 8,739,079

Note b 1.1 Foreign exchange and interest rate derivatives

Under IFRS, a derivative is always presumed to be held for trading, unless there is documented evidence of the hedging intention and the derivative is eligible for hedge accounting. For AFD, this category includes hedging instruments that are not eligible for hedge accounting (“natural” currency hedges).

Foreign exchange and interest rate derivatives are measured at fair value through profit and loss and are therefore treated as financial assets held for trading.

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UNIVERSAL REGISTRATION DOCUMENT 2019

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