2020 Universal registration document and annual financial report - BNP PARIBAS 243
4Consolidated finanCial statements for the year ended 31 deCemBer 2020
4
Notes to the financial statements
Obligations under defined-benefit plans and other post-employment benefits
➤ ASSETS AND LIABILITIES RECOGNISED ON THE BALANCE SHEET
In millions of euros, at 31 December 2020
Defined- benefit
obligation arising from
wholly or partially
funded plans
Defined- benefit
obligation arising from
unfunded plans
Present value of
defined- benefit
obligation Fair value of plan assets
Fair value of reimburse-
ment rights(1)
Effect of asset
ceiling Net
obligation
of which asset recognised in
the balance sheet for defined-
benefit plans
of which net assets of defined-
benefit plans
of which fair value of reimburse- ment rights
of which obligation
recognised in the balance
sheet for defined-benefit
plans
Belgium 3,209 24 3,233 (127) (3,048) 58 (3,048) (3,048) 3,106
UK 1,852 1 1,853 (2,066) (213) (231) (231) 18
France 1,214 88 1,302 (1,187) 115 (64) (64) 179
Switzerland 1,153 1 1,154 (1,099) 4 59 59
USA 543 82 625 (538) 87 (2) (2) 89
Italy 271 271 271 271
Germany 143 78 221 (113) 108 108
Turkey 148 32 180 (331) 182 31 31
Others 539 50 589 (409) (2) 178 (6) (4) (2) 184
TOTAL 8,801 627 9,428 (5,870) (3,050) 186 694 (3,351) (301) (3,050) 4,045
In millions of euros, at 31 December 2019
Defined- benefit
obligation arising from
wholly or partially
funded plans
Defined-benefit obligation
arising from unfunded
plans
Present value of
defined- benefit
obligation Fair value of plan assets
Fair value of reimburse-
ment rights(1)
Effect of asset
ceiling Net
obligation
of which asset recognised in
the balance sheet for defined-
benefit plans
of which net assets of defined-
benefit plans
of which fair value of reimburse- ment rights
of which obligation
recognised in the balance
sheet for defined-benefit
plans
Belgium 3,208 23 3,231 (113) (3,001) 117 (3,001) (3,001) 3,118
UK 1,737 1 1,738 (2,010) (272) (277) (277) 5
France 1,189 95 1,284 (1,195) 89 (77) (77) 166
Switzerland 1,230 2 1,232 (1,120) 5 117 117
USA 588 85 673 (549) 124 124
Italy 307 307 307 307
Germany 136 70 206 (114) 92 92
Turkey 146 29 175 (397) 250 28 28
Others 542 50 592 (411) (1) 180 (4) (3) (1) 184
TOTAL 8,776 662 9,438 (5,909) (3,002) 255 782 (3,359) (357) (3,002) 4,141 (1) The reimbursement rights are principally found on the balance sheet of the Group s insurance subsidiaries and associated companies notably AG
Insurance with respect to BNP Paribas Fortis defined-benefit plan to hedge their commitments to other Group entities that were transferred to them to cover the post-employment benefits of certain employee categories.
