30. Treasury stock

In 2011, 2010 and 2009 the Group companies performed the following transactions with shares issued by the Bank:

Treasury Stock	2011		2010		2009
	Number of Shares	Millions of Euros	Number of Shares	Millions of Euros	Number of Shares	Millions of Euros
Balance at beginning	58,046,967	552	16,642,054	224	61,539,883	720
+ Purchases	652,994,773	4,825	821,828,799	7,828	688,601,601	6,431
- Sales and other changes	(664,643,557)	(5,027)	(780,423,886)	(7,545)	(733,499,430)	(6,835)
+/- Derivatives over BBVA shares	-	(50)	-	45	-	(92)
Balance at the end	46,398,183	300	58,046,967	552	16,642,054	224
Of which:
Held by BBVA, S.A.	1,431,838	19	2,838,798	84	8,900,623	128
Held by Corporación General Financiera, S.A.	44,938,538	281	55,207,640	468	7,740,902	96
Held by other subsidiaries	27,807		529		529
Average purchase price in euros	7,39		9,53		9,34
Average selling price in euros	7,53		9,48		8,95
Net gain or losses on transactions (Srockholders' funds-Reserves)		(14)		(106)		(238)

The percentages of treasury stock held by the Group in 2011, 2010 and 2009 are as follows:

Treasury Stock	2011		2010		2009
	Min	Max	Min	Max	Min	Max
% treasury stock	0.649%	1.855%	0.352%	2.396%	0.020%	2.850%

The number of BBVA shares accepted by the Group in pledge as of December 31, 2011, 2010 and 2009 is as follows:

Shares of BBVA Accepted in Pledge	2011	2010	2009
Number of shares in pledge	119,003,592	107,180,992	92,503,914
Nominal value	0.49	0.49	0.49
% of share capital	2.43%	2.39%	2.47%

The number of BBVA shares owned by third parties but managed by a company in the Group as of December 31, 2011, 2010 and 2009 is as follows:

Shares of BBVA Owned by Third Parties but Managed by the Group	2011	2010	2009
Number of shares property of third parties	104,069,727	96,107,765	82,319,422
Nominal value	0.49	0.49	0.49
% of share capital	2.12%	2.14%	2.20%