AFD - 2019 Universal registration document
AFD’S ANNUAL FINANCIAL STATEMENTS 7
Notes to the financial statements at 31 December 2019
NOTE 32 Other off-balance sheet commitments
December b 2019
December b 2018
In thousands of euros
Guarantee commitments received from the French State on loans Guarantee commitments received from credit institutions
4,645,686
4,128,610
290,861 30,834 84,386
332,990 23,480 167,478
Guarantee commitments made to credit institutions Guarantee commitments given on securities Guarantee commitments made to customers
2,517,515
2,327,416
NOTE 33 Commitments on forward financial instruments excluding IMF transactions (1)
December b 2019
December b 2018
In thousands of euros
notional
value (2)
notional
value (2)
Outright transactions Interest rate swaps (hedging transactions) Currency swaps (hedging transactions)
-41,974,188 32,689,252 16,351,938 16,337,314
749,903 -139,671
-36,060,958 31,556,417 15,847,114 15,709,303
425,429 114,153
Commitments received Commitments given
Other instruments (hedging transactions) Options
-285,556
375
-337,587
1,701
(1) This information does not appear in the publishable off-balance sheet. (2) The value of these fi nancial instruments was established with reference to market value.
Total 2019
Less than 1 b year From 1 to 5 b years More than 5 b years
In thousands of euros
Outright, micro-hedge and OTCmarket transactions Interest rate swaps
1,127,500 6,754,850 3,448,372 3,306,478
12,257,268 10,608,557 5,334,779 5,273,778
28,589,420 15,325,845 7,568,787 7,757,058
41,974,188 32,689,252 16,351,938 16,337,314
Currency swaps
Commitments received Commitments given
Options
0
57,613
227,942
285,556
NOTE34 Valuationof forwardfinancial instruments excluding IMF transactionsby issuer rating (1)
December 2019 Value (2)
December 2018 Value (2)
Banking counterparty rating
AAA
-
-
AA
60,777 784,645
118,669 581,647 127,319
A
BBB
4,306 -1,015
NR
-2,551
TOTAL 825,084 (1) Counterparty risk on derivatives related to the fi nancing of IMF transactions is covered by the overall guarantee granted to AFD by the French State for this purpose. (2) Replacement cost is represented by the net gain on market values, including accrued interest. If the balance is negative, the cost is zero. 848,714
196
UNIVERSAL REGISTRATION DOCUMENT 2019
www.afd.fr
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