2020 Universal registration document and annual financial report - BNP PARIBAS 473
5risks and CaPital adequaCy Pillar 3
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Appendix 1: Sovereign exposures
Exposures In millions of euros
31 December 2019
Banking book(1) Trading book
Total
of which financial assets at
amortised cost
of which financial
instruments at fair value
through equity
of which financial instruments at
fair value through profit or loss
Financial instruments at fair value through profit
or loss held for trading (excl. derivatives)
Derivatives(2)
Direct exposures(3)
Indirect exposures(4)
Eurozone
Austria 635 100 535 - (12) 27 (1)
Belgium 12,953 9,928 2,903 122 100 343 (42)
France 10,308 7,647 2,662 - (1,226) (15) 162
Germany 7,286 4,949 2,078 259 2,897 403 7
Ireland 1,774 1,362 413 - 56 1 -
Italy 14,699 12,635 1,820 244 79 9,365 (69)
Netherlands 597 94 503 - 4 (349) (1)
Portugal 3,704 3,143 561 - (24) (31) (1)
Spain 10,923 9,057 1,766 101 26 - (2)
Other eurozone countries 1,147 842 305 - 26 358 (1)
TOTAL EUROZONE 64,028 49,757 13,545 727 1,926 10,102 53
Other European countries
Poland 6,698 4,688 2,010 - 133 (169) -
United Kingdom 4,532 2,806 1,727 - 1,532 - (62)
Other EEA countries 578 415 162 1 407 20 (2)
TOTAL OTHER EUROPE 11,809 7,909 3,899 1 2,072 (149) (65)
TOTAL EUROPE 75,837 57,666 17,444 728 3,998 9,953 (12)
United States 18,157 8,004 10,153 - 23,530 115 3
Japan 33 - 33 - 1,730 572 46
Turkey 1,850 1,025 826 - 582 - (1)
Other 16,913 11,417 5,496 - 6,252 185 (125)
TOTAL 112,790 78,111 33,951 728 36,093 10,825 (89)
(1) Book value after revaluation and before any impairment provision. (2) Market value. (3) Sovereign counterparty risk: direct exposure to a sovereign counterparty. This excludes exposure to a non-sovereign counterparty fully or partly covered
by a sovereign counterparty. (4) Positions held with a non-sovereign counterparty, exposing BNP Paribas to a credit risk on a sovereign third party. For example, sale of a CDS to a non-
sovereign third party as a hedge against a sovereign s default. This excludes exposures to non-sovereign counterparties fully or partly covered by a sovereign government.
