NATIXIS - 2018 Registration document and annual financial report

FINANCIAL DATA Consolidated financial statements and notes

Offsetting of financial assets 8.3 and liabilities

equity options are offset by ISIN code and maturity date; j as regards repurchase agreements, Natixis records on its a balance sheet the net value of repurchase and reverse repurchase agreements that: are entered into with the same clearing house, j have the same maturity date, j involve the same custodian, j are made in the same currency. j The impacts linked to the existence of an enforceable right of set-off under master netting arrangements or similar agreements correspond to derivative amounts or outstanding repos covered by master arrangements under which the net settlement criterion or the simultaneous settlement of assets and liabilities cannot be demonstrated or for which the right to set-off cannot be exercised except in the event of the default, insolvency or bankruptcy of one or more counterparties. These amounts are not offset on the balance sheet. Guarantees received and given in the form of the securities shown in the “Financial instruments” column are recognized at fair value.

The table below presents the amounts offset on the Natixis balance sheet meeting the criteria set out in IAS 32, as well as the impacts linked to the existence of an enforceable right of set-off under a master netting arrangement or similar agreements that do not meet the criteria set out in IAS 32 dealing with offsetting. The gross offset amounts reflect derivatives and repurchase agreements with clearing houses for which the criteria set out in IAS 32 are met: for OTC derivatives, the information is presented in a consideration of the effects of the currency offset between asset valuations and liability valuations of the derivatives; for asset switches that have similar nominal amounts and a identical maturities and currencies, Natixis presents these transactions as a single financial asset or liability; for listed derivatives, the positions recorded under the a respective asset and liability items for: index options and futures options are offset by maturity and j by currency,

5

8.3.1

Financial assets

31/12/2018

31/12/2017

Gross amount of financial assets recognized in the balance sheet*

Net amount of financial assets recognized in the balance sheet

Gross amount of financial assets recognized in the balance sheet*

Net amount of financial assets recognized in the balance sheet

Gross amount of offset financial liabilities

Gross amount of offset financial liabilities

(a)

(b)

(c) = (a) - (b)

(a)

(b)

(c) = (a) - (b)

(in millions of euros)

Financial assets at fair value through profit or loss

156,299 63,200 93,100

29,101 19,147

127,198 44,052 83,146

103,213 60,723 42,490

23,536 15,071

79,677 45,652 34,025

Derivatives

Repurchase agreements

9,954

8,465

Other financial instruments Hedging derivatives

1,981

1,834

147

2,516 3,214 3,214

2,355

161

Loans and receivables due from banks

700 700

700 700

700 700

2,514 2,514

Repurchase agreements

Other financial instruments Loans and receivables due from customers

2,197 2,197

2,197 2,197

50,819 50,819

5,759 5,759

45,060 45,060

Repurchase agreements

Other financial instruments TOTAL

161,178

31,635

129,543

159,762

32,350

127,412

Gross amount of financial assets offset or covered by a master netting or similar arrangement. *

31/12/2018

31/12/2017

Amounts not offset related to (a) (d)

Net amount of financial assets recognized in the balance sheet

Amounts not offset related to (a) (d)

Net amount of financial assets recognized in the balance sheet

Guarantees received in cash

Guarantees received in cash

Financial instruments

Financial instruments

Net exposure

Net exposure

(c)

*

(e) = (c) - (d)

(c)

*

(e) = (c) - (d)

(in millions of euros)

Derivatives

44,199 85,344

33,083 85,051

8,368

2,748

45,813 81,599

32,414 81,576

9,378

4,021

Repurchase agreements

292

12

11

Other financial instruments TOTAL

129,543

118,134

8,368

3,041

127,412

113,990

9,390

4,032

Including collateral received in the form of securities. *

309

Natixis Registration Document 2018