2020 Universal registration document and annual financial report - BNP PARIBAS 207
4Consolidated finanCial statements for the year ended 31 deCemBer 2020
4
Notes to the financial statements
In millions of euros
31 December 2020 31 December 2019
Positive market value
Negative market value
Positive market value
Negative market value
Interest rate derivatives 151,201 142,509 148,157 130,411
Foreign exchange derivatives 83,246 85,298 60,172 57,758
Credit derivatives 8,152 8,666 8,659 9,242
Equity derivatives 29,271 42,134 25,480 35,841
Other derivatives 4,909 4,001 4,819 4,633
DERIVATIVE FINANCIAL INSTRUMENTS 276,779 282,608 247,287 237,885
The table below shows the total notional amount of trading derivatives. The notional amounts of derivative instruments are merely an indication of the volume of the Group s activities in financial instruments markets, and do not reflect the market risks associated with such instruments.
In millions of euros
31 December 2020 31 December 2019
Exchange- traded
Over-the- counter, cleared through central
clearing houses
Over-the- counter Total
Exchange- traded
Over-the- counter, cleared through central
clearing houses
Over-the- counter Total
Interest rate derivatives 1,338,251 8,962,795 4,569,738 14,870,784 1,275,283 8,554,782 5,224,422 15,054,487
Foreign exchange derivatives 26,929 94,633 5,507,868 5,629,430 17,125 71,944 4,989,986 5,079,055
Credit derivatives 376,689 558,222 934,911 348,880 591,827 940,707
Equity derivatives 697,858 461,793 1,159,651 788,587 592,450 1,381,037
Other derivatives 70,830 54,494 125,324 151,049 85,006 236,055
DERIVATIVE FINANCIAL INSTRUMENTS 2,133,868 9,434,117 11,152,115 22,720,100 2,232,044 8,975,606 11,483,691 22,691,341
In the framework of its Client Clearing activity, the Group guarantees the risk of default of its clients to central counterparties.
The corresponding notional amount is EUR 749 billion as at 31 December 2020 (EUR 936 billion as at 31 December 2019).
4.b DERIVATIVES USED FOR HEDGING PURPOSES The table below shows the notional amounts and the fair value of derivatives used for hedging purposes.
In millions of euros
31 December 2020 31 December 2019
Notional amounts
Positive fair value
Negative fair value
Notional amounts
Positive fair value
Negative fair value
Fair value hedges 757,650 13,100 12,764 741,647 10,702 13,113
Interest rate derivatives 748,871 12,830 12,594 732,683 10,583 12,964
Foreign exchange derivatives 8,779 270 170 8,964 119 149
Cash flow hedges 205,208 2,489 505 179,237 1,744 984
Interest rate derivatives 55,065 1,947 300 67,143 1,476 340
Foreign exchange derivatives 149,807 529 152 111,773 236 613
Other derivatives 336 13 53 321 32 31
Net foreign investment hedges 1,937 11 51 4,863 6 19
Foreign exchange derivatives 1,937 11 51 4,863 6 19
DERIVATIVES USED FOR HEDGING PURPOSES 964,795 15,600 13,320 925,747 12,452 14,116
