BPCE - 2019 Universal Registration Document

5

FINANCIAL REPORT

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

6.2

GUARANTEE COMMITMENTS

12/31/2019

12/31/2018

in millions of euros

Guarantee commitments given to: banks •

6,724

6,113

customers (1) •

35,607 42,331

39,682 45,794

TOTAL GUARANTEE COMMITMENTS GIVEN Guarantee commitments received from: banks •

23,538 147,038 170,576

24,045 142,893

customers •

TOTAL GUARANTEE COMMITMENTS RECEIVED 166,938 Guarantees given by CEGC in connection with its activity are treated as insurance policies for accounting purposes, in accordance with IFRS 4 “Insurance contracts”. They are (1) recorded on the liabilities side of the balance sheet and are not included in guarantees given to customers shown in the table above. value was conducted in the first half of 2018, resulting in the accounting recognition of these guarantees as derivatives subject to measurement at fair value in accordance with the provisions of IFRS 13. Note: at December 31, 2018, these guarantees were recorded as financial guarantees and subject to Natixis guarantees the capital and/or returns on units in certain provisions for counterparty risk in accordance with IFRS 9. They UCITS. The guarantees are only enforced if, on the maturity are recorded under guarantee commitments given in the date, the net asset value of each unit is below the guaranteed amount of €5,383 million. net asset value. Special research on the determination of fair Guarantee commitments are off-balance sheet commitments. PARTICULAR CASE OF GUARANTEES ISSUED TO UCITS BY NATIXIS

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UNIVERSAL REGISTRATION DOCUMENT 2019 | GROUPE BPCE

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