BPCE_REGISTRATION_DOCUMENT_2017

RISK REPORT Liquidity, interest rate and foreign exchange risks

3.9.3

Quantitative disclosures

LIQUIDITY RESERVES ➡

Liquidity reserves include cash placed with central banks and securities and receivables eligible for central bank funding. Management of liquidity reserves, composed of deposits with central banks and the most liquid assets, allows the Bank to adjust its cash position. Loan securitization, which transforms less liquid assets intoliquid or available securities, is another method of strengthening this liquidity reserve. The Tablebelow presentschanges inthe liquidity reserve:

3

in billionsof euros

12/31/2017

12/31/2016

Cash placedwith centralbanks

83 58 73

71 66 93

LCR securities

Assets eligiblefor central bank funding

TOTAL

214

230

At December 31, 2017, liquidity reserves covered 174% of the Group’s short-term funding and the short-term maturities of MLT debt ( € 123 billion at December31, 2017 compared with € 146 billion at December31, 2016).The coverageratio was 158% at December 31, 2016. LIQUIDITY GAPS ➡

The Group’s liquidity gap (liabilities – assets) complieswith internallimits.

1/1/2018 to 12/31/2018

1/1/2019 to 12/31/2021

1/1/2022 to 12/31/2025

in billionsof euros

Liquiditygap

22.1

20.8

16.1

185

Registration document 2017