BPCE_REGISTRATION_DOCUMENT_2017
FINANCIAL REPORT IFRS Consolidated Financial Statements of Groupe BPCE as at December 31, 2017
Note 5
Notes to the balance sheet
5.1
CASH AND AMOUNTS DUE FROM CENTRAL BANKS
12/31/2017
12/31/2016
in millionsof euros
Cash
2,712
2,490
Amount due from centralbanks
91,990 94,702
81,429 83,919
TOTALCASH AND AMOUNTSDUE FROMCENTRAL BANKS
Financial assets at fair value through profit or loss 5.2.1 Financial assets in the trading book mainly include proprietary securities transactions, repurchase agreements and derivative instruments contracted by the Group to manageits risk exposure.
FINANCIAL ASSETS AND LIABILITIES AT FAIR VALUE THROUGH PROFIT OR LOSS Financial assets and liabilities at fair value through profit or loss comprise instruments held for trading, including derivatives, and certain assets and liabilities that the Group has chosen to recognize at fair value, at their date of acquisitionor issue, using the fair value option available under IAS 39. 5.2
12/31/2017
12/31/2016
Trading Fair value option
Total
Trading Fair value option
Total
in millions of euros
Treasury billsand equivalent
10,948
114
11,062
10,617
126
10,743
Bondsand other fixed-income securities
4,152
2,571 2,685
6,723
5,825
2,210 2,336
8,035
5
Fixed-income securities
15,100
17,785
16,442
18,778
Equitiesand othervariable-income securities
40,467
19,591
60,058
35,364
14,913
50,277
Loans tocredit institutions
186
2
188
405
34
439
Loans tocustomers
1,752 1,938
8,322 8,324
10,074 10,262 34,504 47,159
1,350 1,755
9,099 9,133
10,449 10,888 40,371 52,847
Loans
Repurchase agreements (1)
34,504
40,371
Trading derivatives (1)
47,159
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52,847
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TOTALFINANCIALASSETSAT FAIR VALUE THROUGH PROFIT OR LOSS
104,664
65,104
169,768
106,408
66,753
173,161
This informationis presentedin considerationof nettingeffects, in accordancewith IAS 32(see Note 5.24). (1)
Financial assets at fair value through profit or loss held by the insurance companies controlled by Groupe BPCE amounted to € 23,948 million at December 31, 2017 and € 18,018 million at December31, 2016. Conditions for designating financial assets designated at fair value Financial assets are designated at fair value through profit or loss when this choice provides more pertinent information or when the instruments incorporate one or more significant and separable embeddedderivatives(see Note4.1.4). The use of the fair value option is considered to provide more pertinent information in two situations: where there is an accounting mismatch between economically ● linked assets and liabilities. In particular, the fair value option is used when hedge accountingconditionsare not met: in such cases, changes in the fair value of the hedged item automaticallyoffset changes inthe fair valueof the economichedgingderivative;
where a portfolio of financial assets and liabilities is managed and ● recognizedat fair value as part of a documentedasset and liability managementpolicy. At Group level, financial assets measured at fair value through profit or loss are mostly held by Natixis. They consist primarilyof long-term structured repos indexed to a basket of equities whose risks are managed globally and dynamically,financial assets representativeof unit-linked policies from insurance activities and, to a lesser extent, assets with embedded derivatives for which the principle of separation wasnot adopted. Financial assets accounted for under the fair value option, excluding Natixis, also include certain contracts for structured loans to local authorities and structured bonds hedged by derivatives not designated as hedging instruments, assets containing embedded derivativesand fixed-income instruments index-linked to a credit risk.
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Registration document 2017
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