2020 Universal registration document and annual financial report - BNP PARIBAS226
4 Consolidated finanCial statements for the year ended 31 deCemBer 2020
4
Notes to the financial statements
Level 1: this level comprises equities and liquid bonds, derivative instruments traded on organised markets (futures, options, etc.), units of funds and UCITS for which the net asset value is calculated on a daily basis.
Level 2: this level comprises equities, certain government or corporate bonds, other fund units and UCITS and over-the-counter derivatives.
Level 3: this level consists mainly of fund units and shares which are not quoted on active markets, consisting mainly of units in venture capital companies and funds.
During the year ended 31 December 2020, transfers between Level 1 and Level 2 were not significant.
➤ TABLE OF MOVEMENTS IN LEVEL 3 FINANCIAL INSTRUMENTS
For Level 3 financial instruments, the following movements occurred during the period:
In millions of euros
Financial assets
Available-for- sale financial
instruments
Financial instruments as at fair value through
profit or loss Total
AT 31 DECEMBER 2019 290 7,571 7,861
Purchases 42 1,876 1,918
Sales (20) (1,672) (1,692)
Settlements (33) (222) (255)
Transfers to Level 3 2 12 14
Transfers from Level 3 (55) (867) (922)
Gains recognised in profit or loss 2 392 394
Items related to exchange rate movements 2 (19) (17)
Changes in fair value of assets and liabilities recognised in equity (10) (10)
AT 31 DECEMBER 2020 220 7,068 7,288
➤ DETAILS OF AVAILABLE-FOR-SALE FINANCIAL ASSETS
In millions of euros
31 December 2020 31 December 2019
Balance sheet value
of which depreciation
of which changes in value
recognised directly in
equity Balance sheet
value of which
depreciation
of which changes in value
recognised directly in
equity
Debt securities 121,066 14,934 118,618 12,729
Equity instruments 9,528 (697) 2,117 7,978 (417) 2,009
TOTAL AVAILABLE-FOR-SALE FINANCIAL ASSETS 130,594 (697) 17,051 126,596 (417) 14,738
➤ FAIR VALUE OF FINANCIAL INSTRUMENTS CARRIED AT AMORTISED COST
In millions of euros
31 December 2020 31 December 2019
Level 1 Level 2 Level 3 Total Carrying
value Level 1 Level 2 Level 3 Total Carrying
value
Held-to-maturity financial assets 1,686 1,686 1,443 2,224 2,224 1,914
Loans and receivables 65 3,183 - 3,248 3,214 121 2,985 18 3,124 3,089
