NATIXIS -2020 Universal Registration Document
5 FINANCIAL DATA
Consolidated financial statements and notes
Financial liabilities at fair value through profit or loss 7.1.2 The table below shows the breakdown of financial liabilities aftair value through profit and loss by instrument type.
31/12/2020
31/12/2019*
Financial liabilities designated under the fair value option 7.1.2.1 and 7.1.2.2
Financial liabilities designated under the fair value option 8.1.2.1 and 8.1.2.2
Financial liabilities issued for trading
Financial liabilities issued for trading
Total
(in millions of euros)
Total
Note
Securities
20,877
22,776 22,677
43,654 22,972
18,840
24,759 24,659
43,598 24,955
Debt securities
295
297
Subordinated debt
0
99
99
0
100
100
Short sales
20,582 95,263
0 0
20,582 95,263
18,543 96,032
0 0
18,543 96,032
Repurchased securities (a)
Liabilities
13
3,795
3,808
12
3,933
3,945
Due to banks
0
151 120
150 133
0
96
96
Customer deposits
13
12
139
151
Other liabilities
0
3,525
3,525
0
3,699
3,699
Derivative instruments not eligible for hedge accounting (a) *
49,897 15,844 181,896
0 0
49,897 15,844 208,467
51,390 14,985 181,259
0 0
51,390 14,985 209,951
Security deposits received
TOTAL
26,571
28,692
The information presented takes into account the impact of offsetting carried out in accordance with IAS 32 (see Note 7.3). (a) Amounts restated in relation to the financial statements published in 2019 (see Note 5.4). *
where a portfolio of financial assets and liabilities is managed and V recognized at fair value as part of a documented policy of asset and liability management. Liabilities measured at fair value through profit and loss mainly comprise issues originated and structured on behalf of customers for which risks and hedging are collectively managed. These issues include significant embedded derivatives for which changes in value are neutralized,except for those allocated to own credit risk, by those of the derivative instruments hedging them.
Conditions for classification of financial liabilities under the fair value option Financial liabilities 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 embedded derivatives (see Note 5.1.5) . 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 V linked assets and liabilities. In particular, the fair value option is used when hedge accounting conditions are not met: in such cases, changes in the fair value of the hedged item automatically offset changes in the fair value of the hedging derivative;
31/12/2020
31/12/2019
Managed on a fair value basis
Managed on a fair value basis
Carrying amount
Accounting mismatch
Embedded derivatives
Carrying amount
Accounting mismatch
Embedded derivatives
(in millions of euros)
Due to banks
151 120
4 0
147 120
96
6 0
90
Customer deposits
139
139
Debt securities
22,677
19,030
3,647
24,659
20,569
4,090
Subordinated debt
99
0
99
100
0
100
Other liabilities
3,525
3,525
0
3,699
3,699
TOTAL
26,571
22,558
4,013
28,692
24,273
4,419
Some liabilities issued and recognizedunder the fair value option throughprofit or loss are coveredby a guarantee.The effect of this guarantee is incorporated into the fair value of the liabilities.
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NATIXIS UNIVERSAL REGISTRATION DOCUMENT 2020
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