2018 Registration document and annual fi nancial report - BNP PARIBAS 417
5RISKS AND CAPITAL ADEQUACY PILLAR 3
5
Liquidity risk
➤ TABLE 86 : BREAKDOWN OF THE GROUP S MEDIUM- AND LONG- TERM (MLT) WHOLESALE FUNDING [Audited]
In billions of euros
31 December 2018
Tier 1 hybrid
debt
Tier 2 subordinated
debt
Unsecured senior debt Secured
MLT funding
Monetary policy
funding TOTAL Non-
preferred Preferred
Total MLT funding 9.0 16.1 23.4 94.9 29.7 35.0 208.1
MLT debt placed with clients - - - (14.4) - - (14.4)
Monetary policy - - - - - (35.0) (35.0)
WHOLESALE MLT FUNDING 9.0 16.1 23.4 80.5 29.7 - 158.7
In billions of euros
31 December 2017
Tier 1 hybrid
debt
Tier 2 subordinated
debt
Unsecured senior debt Secured
MLT funding
Monetary policy
funding TOTAL Non-
preferred Preferred
Total MLT funding 8.9 14.4 11.0 101.4 29.6 35.0 200.3
MLT debt placed with clients - - - (15.6) - - (15.6)
Monetary policy - - - - - (35.0) (35.0)
WHOLESALE MLT FUNDING 8.9 14.4 11.0 85.8 29.6 - 149.7
➤ TABLE 87 : TRENDS IN GROUP MLT WHOLESALE FUNDING [Audited]
In billions of euros
Stock a t 31 December
2017 New
origination Redemptions Buy-backs Exercis e
of calls
Scope and other
effects
Stock a t 31 December
2018
Total MLT funding 200.3 43.4 (22.5) (2.0) (6.6) (4.4) 208.1
MLT debt placed with clients (15.6) (0.6) 0.5 0.1 0.1 1.1 (14.4)
Monetary policy (35.0) - - - - - (35.0)
WHOLESALE MLT FUNDING 149.7 42.8 (22.0) (1.9) (6.5) (3.4) 158.7
Total medium- to long-term wholesale funding outstandings stood at EUR 158.7 billion at 31 December 2018 against EUR 149.7 billion at 31 December 2017. This increase is mainly related to new issues conducted within the framework of the new TLAC environment.
Wholesale funding raised by the Group in the markets with an initial maturity of over 1 year reached EUR 42.8 billion in 2018, up from EUR 36.1 billion in 2017.
Wholesale funding trends based on regulatory changes
In addition to the Group s liquidity management targets, use of wholesale funding also satisfi es new regulatory requirements relating to Recovery and Resolution, providing for the implementation of the TLAC minimum ratio (see paragraph Recovery and resolution in Capital adequacy and capital planning section in section 5.2).
In order to comply with the regulatory TLAC ratio requirement of 20% at 1 January 2019, BNP Paribas issued EUR 23 billion of non preferred senior TLAC-eligible debt during 2017 and 2018, with different maturity dates and in various currencies.
