BPCE - 2020 Universal Registration Document

FINANCIAL REPORT

IFRS CONSOLIDATED FINANCIAL STATEMENTS OF GROUPE BPCE AS AT DECEMBER 31, 2020

12/31/2020

12/31/2019

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

22,474 37,276

/// ///

22,474 37,276

19,984 38,218

/// ///

19,984 38,218

Trading derivatives (1) (2)

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

157 120

157 120

103 140

103 140

295

23,856

24,151

297

26,254

26,550

Subordinated debt

///

99 /// ///

99

///

100

100

Repurchase agreements (1) Guarantee deposits received

93,233 10,312

93,233 10,312

95,536

/// ///

95,536

9,090

9,090 3,727

Other

///

3,549

3,549

///

3,727

TOTAL FINANCIAL LIABILITIES AT FAIR VALUE THROUGH PROFIT OR LOSS

163,590

27,782

191,371

163,124

30,324

193,448

This information is presented after netting effects, in accordance with IAS 32 (see Note 5.18.2). (1) Amounts restated compared to the financial statements published in 2019, following a change in the presentation of premiums on options to be paid or received (see Note 5.2.3). (2)

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 mainly 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. structuredmedium-termnotes 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 designated at fair value through profit or loss” in accordance with IFRS 9.

5

12/31/2020

12/31/2019

Financial liabilities

Financial liabilities

designated at fair value through profit or loss

designated at fair value through profit or loss

Accounting mismatches

Fair value measurement

Embedded derivatives

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

12

146

158

13

90

103

120

120

140

140

19,030

4,826

23,856

20,570

5,684

26,254

Subordinated debt

99

99

100

100

Other

3,549

3,549

3,727

3,727

TOTAL

22,591

5,191

27,782

24,310

6,014

30,324

273

UNIVERSAL REGISTRATION DOCUMENT 2020 | GROUPE BPCE