Euronext - 2020 Universal Registration Document

GLOSSARY, CONCORDANCE TABLES & ANNEX G

NOTE 15 FINANCIAL ASSETS AT FVOCI - DEBT INSTRUMENTS

All investments in secured assets relating to investments linked to the Cassa di Compensazione e Garanzia S.p.A. own funds have been included in this item to meet the needs envisaged by EU Regulation 648/2012 (EMIR) Article 47 paragraphs 1 and 2 in terms of Regulatory Capital invested in secured assets.

December 2020

Decewmber 2019

L1

L2

L3

L1

L2

L3

In thousands of euros

Financial assets at FVOCI - Debt Instruments - Non current

20,641

- - -

- - -

29,397 94,517 123,914

- - -

- - -

Financial assets at FVOCI - Debt Instruments - Current

102,330

122,971

Currently the investment in secured assets consists of Government Bonds issued by the States of Belgium, France, Ireland, Italy, Holland, Portugal and Spain; and Supranational Securities issued by the European Stability Mechanism and the European Financial Stability Facility, as well as by securities issued by Spanish (Instituto de Credito Oficial) and French (Caisse d’Amortissement de la Dette Sociale) government agencies. These securities were recognized at fair value and valued at public market prices at the date of these consolidated financial statements. The counter-entry of the valuation is recognized in equity in the balance sheet, item “FVOCI Revaluation movements”, net of prepaid and deferred taxes which have no economic impact as they reflect only the theoretical taxation on equity items. These prepaid and deferred taxes are present in item “Deferred tax liabilities”.

The portion of the securities representing the Company’s own funds, included in the aforementioned total, amounts to € 122,971 thousand corresponding to a purchase value of € 123,451 thousand and a nominal value of € 121,300 thousand, adjusted for interest not yet accrued at the date for € 1,100 thousand and € 519 thousand as an effect deriving from the valuation of the securities at fair value at the closing date of the consolidated financial statements. Part of these own funds are, in fact, invested in securities in compliance with the EMIR regulation on the capital requirements of central counterparties.

NOTE 16 DEFERRED TAX ASSETS AND DEFERRED TAX LIABILITIES

Deferred tax are recognised for all taxable temporary differences. The main item is related to the Purchase price allocation (see note 13). The following table shows the movements in deferred taxation.

Acquisition deferred tax and amortisation

Provisions and other temporary difference

Total

In thousands of euros

Opening balance Assets at December 2019 Liabilities at December 2019 Movement of the year Assets at December 2019 Liabilities at December 2019

-

5,159

5,159

(106,083)

(6,103)

(112,186)

-

(227)

(227)

11,755

(3,440)

8,315

Assets at December 2019

-

4,932

4,932

Liabilities at December 2020

(94,329) (94,329)

(9,542) (4,610)

(103,871)

Net at December 2020

(98,939)

348

2020 UNIVERSAL REGISTRATION DOCUMENT