2019 Universal registration document and annual financial report - BNP PARIBAS 487
6information on the Parent ComPany finanCial statements at 31 deCemBer 2019
6
Notes to the parent company financial statements
Characteristics of Undated Floating-Rate Subordinated notes:
Issue date Currency
Amount in original
currency (in millions) Interest rate 31 December 2019 31 December 2018
October 1985 EUR 305 TMO 0.25% 254 254
September 1986 USD 500 6-month Libor +0.075% 244 239
UNDATED FLOATING-RATE SUBORDINATED NOTES 498 493
Payment of interest is obligatory on the TSDIs issued in October 1985 (representing a nominal amount of EUR 305 million), but the Board of directors may postpone interest payments if the Ordinary Shareholders General Meeting notes that there is no income available for distribution in the twelve months preceding the interest payment date. Interest is cumulative and becomes payable in full when the bank resumes dividend payments.
Payment of interest is obligatory on the TSDIs issued in September 1986 (representing a nominal amount of USD 500 million), but the Board of directors may postpone interest payments if the Shareholders General Meeting approves a decision not to pay a dividend in the twelve months
preceding the interest payment date. Interest is cumulative and becomes payable in full when the bank resumes dividend payments. The bank may resume the payment of past interest even if dividend payments have not resumed.
Undated Participating Subordinated notes Undated participating subordinated notes issued by BNP Paribas SA in July 1984 in a total amount of EUR 337 million are redeemable only in the event of the liquidation of BNP Paribas SA, but may be retired on the terms specified in the French act of 3 January 1983. The number of notes outstanding was 1,434,092 at 31 December 2019.
Note 4 FINANCING AND GUARANTEE AND SECURITIES COMMITMENTS
4.a FINANCING COMMITMENTS
In millions of euros at 31 December 2019 31 December 2018
Credit institutions 96,003 80,610
Customers 234,757 225,125
Confirmed letters of credit 97,248 102,446
Other commitments given to customers 137,509 122,679
FINANCING COMMITMENTS GIVEN 330,760 305,735
Credit institutions 114,010 98,537
Customers 34,422 47,615
FINANCING COMMITMENTS RECEIVED 148,432 146,152
