BPCE - 2020 Universal Registration Document
FINANCIAL REPORT
IFRS CONSOLIDATED FINANCIAL STATEMENTS OF BPCE SA GROUP 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
20,595 41,405
/// ///
20,595 41,405
18,555 42,197
/// ///
18,555 42,197
Trading derivatives (1) (2)
Interbank term accounts and loans Customer term accounts and loans Non-subordinated debt securities
173 120
173 120
144 139
143 139
295
23,856
24,151
297
26,254
26,550
Subordinated debt
///
99 /// ///
99
///
100
100
Repurchase agreements (1) Guarantee deposits received
95,262 14,252
95,262 14,252
95,548 13,119
/// ///
95,548 13,119
Other
///
3,525
3,525
///
3,699
3,699
TOTAL FINANCIAL LIABILITIES AT FAIR VALUE THROUGH PROFIT OR LOSS
171,810
27,772
199,582
169,716
30,335
200,051
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
designated at fair value
through profit or loss
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
27
146 120
173 120
54
90
144 139
139
19,030
4,826
23,856
20,570
5,684
26,254
Subordinated debt
99
99
100
100
Other
3,525
3,525
3,699
3,699
TOTAL
22,581
5,191
27,772
24,322
6,013
30,335
423
UNIVERSAL REGISTRATION DOCUMENT 2020 | GROUPE BPCE
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