BPCE - 2019 Universal Registration Document

5

FINANCIAL REPORT

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

The breakdown of payroll costs is provided in Note 8.1.

Contributions to banking resolution mechanisms The procedure for financing the deposit and resolution guarantee fund was changed by a Ministerial Order dated October 27, 2015. For the Deposit Guarantee Fund, the cumulative amount of contributions made to the fund by the Group for deposit, collateral and securities guarantee mechanisms amount to €21 million. Contributions (which are non-refundable in the event of a voluntary withdrawal of approval to operate) represent €3 million. Contributions paid in the form of partner or association certificates and cash security deposits recognized as assets on the balance sheet total €18 million. European directive 2014/59/EU (the Bank Recovery and Resolution Directive) which sets out a framework for the recovery and resolution of banks and investment firms, and European Regulation 806/2014 (the Single Resolution Mechanism (SRM) Regulation) set up a resolution fund from 2015. In 2016, this fund became a Single Resolution Fund (SRF) between the Member States participating in the Single Supervisory Mechanism (SSM). The SRF is a resolution financing mechanism available to the resolution authority (Single Resolution Board), which may use this fund when implementing resolution procedures. The Single Resolution Board set the level of contributions for 2019 in accordance with Delegated Regulation 2015/63 and Implementing Regulation 2015/81 supplementing the BRRD on ex-ante contributions to bank resolution financing mechanisms. The amount of contributions paid by the Group totaled €305 million, of which €259 million recognized as an expense and €46 million in cash security deposits recognized as assets on the balance sheet (15% of funds in cash security deposits). The cumulative amount of contributions recognized as assets on the balance sheet totaled €180 million at December 31, 2019.

4.8

GAINS OR LOSSES ON OTHER ASSETS

Accounting principles

This item includes gains and losses on disposals of property, plant and equipment and intangible assets, as well as gains and losses on disposals of consolidated investments in associates.

Fiscal year 2019

Fiscal year 2018

in millions of euros

Gains or losses on disposals of property, plant and equipment and intangible assets used in operations

8

6

Gains or losses on disposals of consolidated investments TOTAL GAINS OR LOSSES ON OTHER ASSETS

(15)

(2)

(7)

4

In 2019, gains or losses on disposals of consolidated investments were predominantly related to the disposal of Natixis Brasil (-€15 million). In 2018, gains or losses on disposals of consolidated investments were predominantly related to Axeltis and

Selection 1818 (+€42 million). This capital gain was partially offset by the provision recorded for the disposal of BPCE International’s African subsidiaries, carried out in 2019 (see Note 1.3).

Notes to the balance sheet

Note 5

5.1

CASH AND AMOUNTS DUE FROM CENTRAL BANKS

Accounting principles This item mainly includes cash and assets held with central banks at amortized cost.

12/31/2019

12/31/2018

in millions of euros

Cash

51

39

Amount due from central banks

72,551 72,602

66,617 66,656

TOTAL CASH AND AMOUNTS DUE FROM CENTRAL BANKS

396

UNIVERSAL REGISTRATION DOCUMENT 2019 | GROUPE BPCE

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