NATIXIS - 2018 Registration document and annual financial report

5 FINANCIAL DATA

Consolidated financial statements and notes

Financial liabilities under the fair value option for which credit risk is recognized in net income

31/12/2018

01/01/2018

Cumulative changes

(in millions of euros) Customer deposits

67

64

3

78

75 10

4

123

126

(3)

9

(1)

Other liabilities

4,389

4,389

0

3,352

3,352

0

TOTAL

4,579

4,579

0

3,440

3,437

3

8.1.3

Derivatives not eligible for hedge accounting

Derivative financial instruments not eligible for hedge accounting are classified as held for trading, irrespective of the period over which they are expected to be held.

31/12/2018

01/01/2018

Notional 630,231 479,400

Assets

Liabilities

Notional 770,015 658,248

Assets

Liabilities

(in millions of euros) Organized market

1,719

2,715

1,088

1,860

Interest rate derivatives Currency derivatives

256

629

107

551

151

349

Equity derivatives Credit derivatives Other contracts

150,015

1,463

2,086

111,418

980

1,308

1

1

665

Over-the-counter

4,677,487 3,425,424 1,007,867

55,442 36,145 13,021

54,445 35,649 12,383

4,921,766 3,601,244 1,089,015

58,926 39,023 15,528

57,740 38,476 14,570

Interest rate derivatives Currency derivatives

Equity derivatives

118,497 30,807 94,892

4,810

5,091

107,846 38,855 84,805

2,587 1,153

3,548

Credit derivatives (a) (b)

979 487

564 758

793 354

Other contracts

635

TOTAL

5,307,718 1,701,854 2,712,919

57,161 38,890 11,606

57,160 36,557 12,858

5,691,781 1,771,715 2,848,152

60,014 43,350

59,600 41,146

o/w banks

o/w other financial companies 11,493 The notional amounts of derivative financial instruments are merely an indication of the volume of the Group’s business on the financial instruments market, and do not reflect the market risks associated with such instruments. Natixis has contracted Total Return Swaps (TRS) with BPCE. These instruments are used to hedge changes in the fair value recognized since (a) July 1, 2009 on instruments previously linked to the former GAPC hive-off carried at fair value through profit or loss at December 31, 2018 and are included on this line for an amount of €0.1 million in assets (versus €4.5 million at December 31, 2017) and €11.7 million in liabilities (versus €10.3 million at December 31, 2017). Natixis has contracted a call option with BPCE for the purpose of recovering in 10 years’ time any net gains in fair value transferred to BPCE via (b) TRS. The call option was recognized on this line in assets for €569.6 million at December 31, 2018, versus €559.5 million at December 31, 2017. 9,935

306

Natixis Registration Document 2018