2018 Registration document and annual fi nancial report - BNP PARIBAS 201
4CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018
4
Notes to the fi nancial statements
In millions of euros
31 December 2018 IFRS 9 & IFRS 15
1 January 2018 IFRS 9 & IFRS 15
Positive market value
Negative market value
Positive market value
Negative market value
Interest rate derivatives 116,438 103,452 122,110 110,804
Foreign exchange derivatives 69,514 68,761 66,550 65,269
Credit derivatives 6,873 7,071 7,553 8,221
Equity derivatives 33,424 39,419 28,797 39,150
Other derivatives 6,646 7,101 4,886 4,200
DERIVATIVE FINANCIAL INSTRUMENTS 232,895 225,804 229,896 227,644
The table below shows the total notional amount of trading derivatives. The notional amounts of derivative instruments are merely an indication of the volume of the Group s activities in fi nancial instruments markets, and do not refl ect the market risks associated with such instruments.
In millions of euros
31 December 2018 IFRS 9 & IFRS 15
1 January 2018 IFRS 9 & IFRS 15
Exchange- traded
Over-the- counter, cleared through central
clearing houses
Over-the- counter Total
Exchange- traded
Over-the- counter, cleared through central
clearing houses
Over-the- counter Total
Interest rate derivatives 1,553,933 9,189,930 5,193,522 15,937,385 1,398,333 9,348,490 4,913,384 15,660,207
Foreign exchange derivatives 15,547 52,329 4,782,027 4,849,903 1,809 48,028 4,631,422 4,681,259
Credit derivatives 311,726 561,534 873,260 288,459 557,572 846,031
Equity derivatives 1,132,800 1,789 577,816 1,712,405 856,023 940 590,719 1,447,682
Other derivatives 99,510 58,004 94,202 251,716 86,262 26,470 79,264 191,996
DERIVATIVE FINANCIAL INSTRUMENTS 2,801,790 9,613,778 11,209,101 23,624,669 2,342,427 9,712,387 10,772,361 22,827,175
5.b DERIVATIVES USED FOR HEDGING PURPOSES The table below shows the notional amounts and the fair value of derivatives used for hedging purposes.
In millions of euros
31 December 2018 IFRS 9 & IFRS 15
1 January 2018 IFRS 9 & IFRS 15
Notional amounts
Positive fair value
Negative fair value
Notional amounts
Positive fair value
Negative fair value
Fair value hedges 639,707 8,079 10,706 723,687 11,632 14,542
Interest rate derivatives 630,993 7,871 10,526 713,066 11,454 14,311
Foreign exchange derivatives 8,714 208 180 10,621 178 231
Cash fl ow hedges 184,287 1,683 964 207,655 2,081 1,101
Interest rate derivatives 58,666 1,233 358 97,865 1,551 449
Foreign exchange derivatives 125,306 439 496 109,489 472 646
Other derivatives 315 11 110 301 58 6
Net foreign investment hedges 3,806 48 7 4,556 8 39
Foreign exchange derivatives 3,806 48 7 4,556 8 39
DERIVATIVES USED FOR HEDGING PURPOSES 827,800 9,810 11,677 935,898 13,721 15,682
