BPCE - 2019 Universal Registration Document

FINANCIAL REPORT

IFRS CONSOLIDATED FINANCIAL STATEMENTS OF GROUPE BPCE AS AT DECEMBER 31, 2019

12/31/2019

12/31/2018

Financial liabilities designated at fair value through profit or loss

Financial liabilities designated at fair value through profit or loss

Financial liabilities issued for trading

Financial liabilities issued for trading

Total

Total

in millions of euros

Short sales

19,984 46,546

/// ///

19,984 46,546

21,167 46,614

/// /// 73

21,167 46,614

Trading derivatives (1)

Interbank term accounts and loans Customer term accounts and loans Non-subordinated debt securities

103 140

103 140

73

2

125

126

297

26,254

26,550

301

24,176

24,476

Subordinated debt

///

100

100

///

100

100

Repurchase agreements (1) Guarantee deposits received

95,536

/// ///

95,536

90,170

/// ///

90,170

9,090

9,090 3,727

7,717

7,717 4,423

Other

///

3,727

///

4,423

TOTAL FINANCIAL LIABILITIES AT FAIR VALUE THROUGH PROFIT OR LOSS

171,452

30,324

201,776

165,970

28,897

194,867

This information is presented in consideration of netting effects, in accordance with IAS 32 (see Note 5.18.2). (1)

Conditions for designating financial liabilities at fair value through profit or loss At Group level, financial liabilities designated at fair value through profit or loss are mostly held by Natixis. They mostly comprise issues originated and structured for customers and for which the risks and hedges are managed collectively. These issues include significant embedded derivatives for which changes in value are offset by those of the derivative instruments hedging them. Financial liabilities accounted for under the fair value option, excluding Natixis, also include some structured debt issues and structured deposits containing embedded derivatives ( e.g. structured medium-term notes and equities for personal savings plans).

These liabilities are measured at fair value on the reporting date with changes in value, including coupon, recorded in the “Net gains or losses on financial instruments at fair value through profit or loss” line on the income statement, with the exception of changes in fair value attributable to own credit risk associated with financial liabilities designated at fair value through profit or loss, which are recognized in “Revaluation of own credit risk on financial liabilities recognized at fair value through profit or loss” in accordance with IFRS 9.

5

12/31/2019

Financial liabilities designated at fair value through profit or loss

Accounting mismatches

Fair value measurement

Embedded derivatives

in millions of euros

Interbank term accounts and loans Customer term accounts and loans Non-subordinated debt securities

13

90

103 140

140

20,570

5,684

26,254

Subordinated debt

100

100

Other

3,727

3,727

TOTAL

24,310

6,014

30,324

253

UNIVERSAL REGISTRATION DOCUMENT 2019 | GROUPE BPCE