41. Net gains (losses) on financial assets and liabilities (net)
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The breakdown of the balance under this heading, by source of the related items, in the accompanying consolidated income statements is as follows:
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| Gains (Losses) on Financial Assets and Liabilities Breakdown by Heading of the Balance Sheet |
Millions of Euros | ||
|---|---|---|---|
| 2014 | 2013 | 2012 | |
| Financial assets held for trading | 11 | 540 | 653 |
| Other financial assets designated at fair value through profit or loss | 27 | 49 | 69 |
| Other financial instruments not designated at fair value through profit or loss | 1,397 | 1,019 | 914 |
| Available-for-sale financial assets | 1,400 | 1,046 | 801 |
| Loans and receivables | 31 | 126 | 51 |
| Rest | (34) | (153) | 62 |
| Total | 1,435 | 1,608 | 1,636 |
The breakdown of the balance under this heading in the accompanying income statements by the nature of financial instruments is as follows:
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| Gains (Losses) on Financial Assets and Liabilities Breakdown by Nature of the Financial Instrument |
Millions of Euros | ||
|---|---|---|---|
| 2014 | 2013 | 2012 | |
| Debt instruments | 1,683 | 1,167 | 1,101 |
| Equity instruments | 345 | 883 | (51) |
| Loans and advances to customers | 35 | 46 | 38 |
| Derivatives | (648) | (444) | 591 |
| Customer deposits | (4) | 13 | 30 |
| Rest | 24 | (56) | (73) |
| Total | 1,435 | 1,608 | 1,636 |
The breakdown of the balance of the impact of the derivatives (trading and hedging) under this heading in the accompanying consolidated income statements is as follows:
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| Derivatives Trading and Hedging | Millions of Euros | ||
|---|---|---|---|
| 2014 | 2013 | 2012 | |
| Trading derivatives |
|
|
|
| Interest rate agreements | (429) | 139 | 473 |
| Security agreements | 34 | (596) | (63) |
| Commodity agreements | (1) | (1) | (12) |
| Credit derivative agreements | 76 | (59) | (47) |
| Foreign-exchange agreements | (285) | 122 | 66 |
| Other agreements | 4 | 31 | 7 |
| Subtotal | (601) | (364) | 424 |
| Hedging Derivatives Ineffectiveness | - |
|
|
| Fair value hedging | (47) | (98) | 167 |
| Hedging derivative | (488) | (877) | (464) |
| Hedged item | 441 | 779 | 631 |
| Cash flow hedging | - | 18 | - |
| Subtotal | (47) | (80) | 167 |
| Total | (648) | (444) | 591 |
In addition, in 2014, 2013 and 2012, under the heading “Exchange differences (net)” of the income statement, net amounts of positive €39 million, positive €137 million and negative €373 million, respectively, were recognized for transactions with foreign exchange trading derivatives.