2019 Universal registration document and annual financial report - BNP PARIBAS212
4 Consolidated finanCial statements for the year ended 31 deCemBer 2019
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.
➤ 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 2018 276 6,820 7,096
Purchases 54 2,941 2,995
Sales (53) (2,253) (2,306)
Settlements (75) (208) (283)
Transfers to Level 3 84 236 320
Transfers from Level 3 (19) (582) (601)
Gains recognised in profit or loss 5 618 623
Items related to exchange rate movements 1 (2) (1)
Changes in fair value of assets and liabilities recognised in equity 17 17
AT 31 DECEMBER 2019 290 7,571 7,861
During the year ended 31 December 2019, transfers between Level 1 and Level 2 were not significant.
➤ DETAILS OF AVAILABLE-FOR-SALE FINANCIAL ASSETS
In millions of euros
31 December 2019 31 December 2018
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 118,618 12,729 105,973 8,461
Equity instruments 7,978 (417) 2,009 6,068 (312) 668
TOTAL AVAILABLE-FOR-SALE FINANCIAL ASSETS 126,596 (417) 14,738 112,041 (312) 9,129
➤ FAIR VALUE OF FINANCIAL INSTRUMENTS CARRIED AT AMORTISED COST
In millions of euros
31 December 2019 31 December 2018
Level 1 Level 2 Level 3 Total Carrying
value Level 1 Level 2 Level 3 Total Carrying
value
Held-to-maturity financial assets 2,224 2,224 1,914 4,116 4,116 3,720
Loans and receivables 121 2,985 18 3,124 3,089 125 3,487 21 3,633 3,605
