BPCE_REGISTRATION_DOCUMENT_2017
FINANCIAL REPORT IFRS Consolidated Financial Statements of BPCE SA group 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
136
125
Amount due tocentralbanks
82,585 82,721
71,911 72,036
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
Fair value option
Fair value option
Trading 10,080
Total
Trading 7,991 4,258 12,249
Total
in thousands of euros
Treasury billsand equivalent
106
10,186
118
8,109 6,381
Bondsand other fixed-income securities
2,851
2,520 2,626
5,371
2,123 2,241
5
Fixed-income securities
12,931
15,557
14,490
Equitiesand othervariable-income securities
37,348
16,848
54,196
33,815
12,640
46,455
Loans tocredit institutions
1,254 1,752 3,006
172
1,426 8,557 9,983
1,521 1,350 2,871
204
1,725 8,517
Loans tocustomers
6,805 6,977
7,167 7,371
Loans
10,242 42,377 57,599
Repurchase agreements*
36,086
36,086 51,194
42,377
Trading derivatives*
51,194
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57,599
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TOTALFINANCIALASSETSAT FAIR VALUE THROUGH PROFIT OR LOSS
104,479
62,537
167,016
106,534
64,629
171,163
This informationis presentedin considerationof nettingeffects, in accordancewith IAS 32(see Note 5.24). *
Financial assets at fair value through profit or loss held by the insurance companies controlled by BPCE SA group amounted to € 22,405 million at December 31, 2017 and € 16,588 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, financialassets designatedat fair value throughprofit 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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