BPCE - 2019 Universal Registration Document

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FINANCIAL REPORT

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

6.2

GUARANTEE COMMITMENTS

12/31/2019

12/31/2018

in millions of euros

Guarantee commitments given to: banks •

6,629

5,892

customers (1) •

22,635 29,264

27,713 33,605

TOTAL GUARANTEE COMMITMENTS GIVEN Guarantee commitments received from: banks •

21,738 91,066 112,804

20,942 92,207

customers •

TOTAL GUARANTEE COMMITMENTS RECEIVED 113,149 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. guarantees and subject to provisions in accordance with IFRS 9 due to the difficulty in determining fair value. Special research on the determination of fair value was conducted in the first half of 2018, resulting in the accounting recognition of these Natixis guarantees the capital and/or returns on units in certain guarantees as derivatives subject to measurement at fair value UCITS. The guarantees are only enforced if, on the maturity in accordance with the provisions of IFRS 13. Note: at date, the net asset value of each unit is below the guaranteed December 31, 2018, these guarantees were recorded as net asset value. Though similar to derivatives, capital and/or financial guarantees and subject to provisions for counterparty performance guarantees granted by Natixis to certain UCITS risk in accordance with IFRS 9. They are recorded under were recognized until December 31, 2018 as financial guarantee commitments given in the amount of €5,383 million. Guarantee commitments are off-balance sheet commitments.. GUARANTEES ISSUED TO UCITS BY NATIXIS

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UNIVERSAL REGISTRATION DOCUMENT 2019 | GROUPE BPCE

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