NATIXIS - Universal registration document and financial report 2019
5 FINANCIAL DATA
Consolidated financial statements and notes
Financial liabilities designated at fair value through profit or loss 8.1.2 The table below shows the breakdown of financial liabilities at fair value through profit and loss by instrument type.
31/12/2019
31/12/2018
Financial liabilities designated under the fair value option 8.1.2.1 and 8.1.2.2
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
18,840
24,759 24,659
43,598 24,955
21,062
22,132 22,032
43,194 22,332
Debt securities
297
301
Subordinated debt
0
100
100
0
100
100
Short sales
18,543 96,032
0 0
18,543 96,032
20,761 90,812
0 0
20,761 90,812
Repurchased securities (a)
Liabilities
12
3,933
3,945
14
4,579
4,593
Due to banks
0
96
96
0
67
67
Customer deposits
12
139
151
14
123
137
Other liabilities
0
3,699
3,699
0
4,389
4,389
Derivative instruments not eligible for hedge accounting (a)
59,718 14,985 189,587
0 0
59,718 14,985 218,279
57,160 12,423 181,472
0 0
57,160 12,423 208,183
Security deposits received
TOTAL
28,692
26,711
The information presented takes into account the impact of offsetting carried out in accordance with IAS 32 (see Note 8.3). (a)
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.
8.1.2.1
Conditions for classification of financial
liabilities under the fair value option Financial liabilities are designated at fair value through profit and loss when this choice provides more pertinent information or when the instruments incorporate one or more significant and separable embedded derivatives (see Note 6.1.5) . 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;
31/12/2019
31/12/2018
Managed on a fair
Managed on a fair value basis
Accoun- ting mismatch
Carrying amount
value basis
Embedded derivatives
Carrying amount
Accounting mismatch
Embedded derivatives
(in millions of euros)
Due to banks
96
6 0
90
67
6 0
61
Customer deposits
139
139
123
123
Debt securities
24,659
20,569
4,090
22,032
17,770
4,261
Subordinated debt
100
0
100
100
0
100
Other liabilities
3,699
3,699
4,388
4,389
0
TOTAL
28,693
24,274
4,419
26,711
22,165
4,545
Some liabilities issued and recognized under the fair value option through profit or loss are covered by a guarantee. The effect of this guarantee is incorporated into the fair value of the liabilities.
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NATIXIS UNIVERSAL REGISTRATION DOCUMENT 2019
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