BPCE_REGISTRATION_DOCUMENT_2017
FINANCIAL REPORT IFRS Consolidated Financial Statements of Groupe BPCE as at December 31, 2017
Note 15
Fair value of financial assets and liabilities at amortized cost
For financial instruments not measured at fair value on the balance sheet, fair value calculations are provided for information purposes and must only be interpreted as estimates. In most cases, the values indicated are not liable to be realized and generally may not be realized in practice.
These fair values are thus only calculatedfor informationpurposes in the notes to the financial statements.They are not indicatorsused in the interest of overseeing retail banking activities, for which the managementmodel is based oncollectionof expected cash flows. The simplified assumptions used to measure the fair value of instruments at amortized costs are presented inNote 4.1.6.
12/31/2017
12/31/2016
Price quoted in an active market (Level 1)
Measurement techniques using observable data (Level 2)
Measurement techniques using unobservable data (Level 3)
Price quoted in an active market (Level 1)
Measurement techniques using observable data (Level 2)
Measurement techniques using unobservable data (Level 3)
Fair value
Fair value
in millions of euros
FINANCIALASSETS AT AMORTIZEDCOST Loans and receivablesdue from creditinstitutions Loans and receivablesdue from customers Held-to-maturity financial assets FINANCIALLIABILITIES AT AMORTIZED COST Amounts dueto credit institutions
93,229
100
31,811
61,318 96,678
34
26,669
69,975
713,515 1,581
142,774
569,160 687,218
556
119,064
567,598
8,716 8,353
231
132 10,689 10,175
200
314
91,844
62
79,476
12,306 86,617
67,096 246,081 142,252 20,192
19,521 287,755 98,797
5
Amounts dueto customers 570,782
36
316,348
254,398 533,836
Debt securities
223,045 1,124
146,462
75,459 241,049
Subordinated debt
20,562
19,893
669 21,831
1,639
Note 16
Interests in non-consolidated structured entities
NATURE OF INTERESTS IN 16.1
An interest in an entity corresponds to all types of relationship, contractualor not, that exposesGroupe BPCE to a risk of fluctuations in returns relating to the entity’s performance. Interests in another entity may be evidenced by, among others, the holding of equity instruments or debt securities, as well as, by other types of relationship, such as financing, short-term credit facilities, credit enhancement, provision of guarantees or structured derivatives. As a result, the following are not included in the scope of this note: structuredentities which are associatedwith Groupe BPCE through ● a current transaction alone. This corresponds to an unstructured financial instrument which generally does not have a material impact on the variability of the structured entity’s returns and which could be concludedby Groupe BPCE with structuredentities or classically-governedentities alike. The main kinds of current transactions are: plain vanilla fixed-income, foreign exchange and other - underlying derivatives, as well as securities lending/borrowing and repurchase agreementransactions,
NON-CONSOLIDATED STRUCTURED ENTITIES
A non-consolidatedstructuredentity is a structuredentity that is not controlled and is therefore not accounted for using the full consolidationmethod.As a result, the interestsheld in a joint venture or associate which is classed as a structured entity falls within the scope of this note. The same is true of controlled structured entities that are not consolidateddue tothreshold reasons. This includes all structured entities in which Groupe BPCE holds an interest andintervenesin one or more of the following capacities: originator/structurer/arranger; ● placement agent; ● manager; ● in any other capacitythat has a major impact on the structuringor ● management of the transaction (e.g. provision of financing, guarantees or structuring derivatives, tax investor, major investor,etc.).
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Registration document 2017
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