BPCE - 2019 Universal Registration Document

5

FINANCIAL REPORT

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

12/31/2019

12/31/2018

Financial liabilities

Financial liabilities

Financial liabilities issued for trading

designated at fair value through profit or loss

Financial liabilities issued for trading

designated at fair value through profit or loss

Total

Total

in millions of euros

Short sales

18,555 50,525

/// ///

18,555 50,525

20,774 49,450

/// ///

20,774 49,450

Trading derivatives (1)

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

144 139

143 139

131 123

131 125

2

297

26,254

26,550

301

24,176

24,476

Subordinated debt

///

100

100

///

100

100

Repurchase agreements (1) Guarantee deposits received

95,548 13,119

/// ///

95,548 13,119

90,582 11,187

/// ///

90,582 11,187

Other

///

3,699

3,699

///

4,389

4,389

TOTAL FINANCIAL LIABILITIES AT FAIR VALUE THROUGH PROFIT OR LOSS

178,044

30,335

208,379

172,296

28,919

201,214

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.

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

54

90

144 139

139

20,570

5,684

26,254

Subordinated debt

100

100

Other

3,699

3,699

TOTAL

24,322

6,013

30,335

400

UNIVERSAL REGISTRATION DOCUMENT 2019 | GROUPE BPCE

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