BPCE - 2020 Universal Registration Document

5

FINANCIAL REPORT

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

AMOUNTS DUE TO BANKS AND SIMILAR AND CUSTOMERS

5.11

Accounting principles These liabilities, which are not classified as financial liabilities at fair value through profit or loss, are carried at amortized cost under “Amounts due to banks” or “Amounts due to customers”. Issues of debt securities (which are not classified as financial liabilities at fair value through profit or loss or through other comprehensive income) are initially recognized at fair value less any transaction costs. They are subsequently measured at amortized cost at each balance sheet date using the effectiveinterest method. These instruments are recognized on the balance sheet under “Amounts due to banks”, “Amounts due to customers”or “Debt securities” (see Note 5.10). Temporary sales of securities are recorded on the settlement/delivery date. For repurchase transactions, a loan commitment received is recorded between the transaction date and the settlement-delivery date when such transactions are recorded as “Liabilities”. Use of the ECB's long-term refinancing facility (TLTRO3) was booked at amortized cost in accordance with IFRS 9. Interest is recognized in the incomestatementby the effective interest rate methodestimatedbased on the assumptionthat the eligible loan targets fixed by the ECB are met. As these loans are remuneratedvia an adjustable rate, the effective interest rate used may change from one period to another. This means the -0.50% interest bonus has been booked as income for the 12-month period concerned.

5.11.1

AMOUNTS DUE TO BANKS AND SIMILAR

12/31/2020

12/31/2019

in millions of euros

Demand deposits

9,471 2,710

9,389 2,446

Repurchase agreements

Accrued interest

6

5

Amounts due to banks and similar – repayable on demand

12,187 117,556

11,840 59,631

Term deposits and loans (1) Repurchase agreements

7,607 (373)

3,968 (122)

Accrued interest

Amounts due to banks and similar – repayable at agreed maturity dates

124,790

63,476

Guarantee deposits received

1,439

1,336

TOTAL AMOUNTS DUE TO BANKS AND SIMILAR 76,653 The liability related to the TLTRO3 long-term refinancing withthe ECB amounted to €82 billion at December 31, 2020 and resulted in therecognition of interest income in interest and (1) similar income on the basis a bonus rate of -1% over the period, as the Group considers it highly probable that it will achieve the target of stable loans outstanding set by the ECB. 138,416

The fair value of amounts due to banks and similar is presented in Note 10.

5.11.2

AMOUNTS DUE TO CUSTOMERS

12/31/2020

12/31/2019

in millions of euros

Current accounts

266,086 100,781 82,058 99,839 282,681 13,917 59,118 3

210,815 93,963 79,985 91,078 265,029 12,741 63,174 3

Livret A savings accounts

Regulated home savings products Other regulated savings accounts

Accrued interest

Regulated savings accounts Demand deposits and loans

Term accounts and loans

Accrued interest

1,339

1,601

Other customer accounts Repurchase agreements

74,374

77,516

5,225 2,453

5,148 1,180

Other amounts due to customers Guarantee deposits received

18

25

TOTAL AMOUNTS DUE TO CUSTOMERS

630,837

559,713

The fair value of amounts due to customers is presented in Note 10.

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UNIVERSAL REGISTRATION DOCUMENT 2020 | GROUPE BPCE

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