2018 Registration document and annual fi nancial report - BNP PARIBAS 221

4CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018

4

Notes to the fi nancial statements

➤ DETAIL OF AVAILABLE-FOR-SALE FINANCIAL ASSETS

In millions of euros

31 December 2018 1 January 2018

Debt securities

Equity instruments Total

Debt securities

Equity instruments Total

Balance sheet value 105,973 6,068 112,041 106,819 7,347 114,166

of which depreciation - (312) (312) - (365) (365)

of which changes in value recognised directly in equity 8,461 668 9,129 11,637 1,551 13,188

Deferred tax linked to these changes in value (2,256) (179) (2,435) (3,126) (414) (3,540)

Insurance policyholders surplus reserve from insurance entities, after deferred tax (5,472) (427) (5,899) (7,443) (1,005) (8,448)

Group share of changes in value of available-for- sale securities owned, by equity-method entities, after deferred tax and insurance policyholders surplus reserve 688 54 742 656 129 785

Unamortised changes in value of available-for-sale securities (1) - (1) - - -

Other variations - - - (1) - (1)

Changes in value of assets taken directly to equity under the heading Financial investments of insurance activities 1,420 116 1,536 1,723 261 1,984

Attributable to equity shareholders 1,413 116 1,529 1,688 259 1,947

Attributable to minority interests 7 - 7 35 2 37

➤ FAIR VALUE OF FINANCIAL INSTRUMENTS CARRIED AT AMORTISED COST

In millions of euros

31 December 2018 1 January 2018

Level 1 Level 2 Level 3 Total Carrying

value Level 1 Level 2 Level 3 Total Carrying

value

Held-to-maturity fi nancial assets 4,116 - - 4,116 3,720 4,819 - - 4,819 4,231

Loans and receivables 125 3,487 21 3,633 3,605 130 2,749 266 3,145 3,110

5.j TECHNICAL RESERVES AND OTHER INSURANCE LIABILITIES

In millions of euros 31 December 2018 1 January 2018

Technical reserves Non-Life insurance contracts 4,590 4,565

Technical reserves Life insurance contracts 145,343 141,702

Insurance contracts 84,392 81,990

Unit-linked contracts 60,951 59,712

Technical liabilities investment contracts 42,438 39,372

Investments contracts with discretionary participation feature 38,604 35,838

Investment contracts without discretionary participation feature 3,834 3,534

Policyholders surplus reserve liability 17,379 21,331

Total technical reserves and liabilities related to insurance and investment contracts 209,750 206,970

Debts arising out of insurance and reinsurance operations 3,056 3,149

Derivative fi nancial instruments 885 375

TOTAL TECHNICAL RESERVES AND OTHER INSURANCE LIABILITIES 213,691 210,494