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financial statements 2015

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
2015 2014 2013
Financial assets held for trading (409) 11 540
Other financial assets designated at fair value through profit or loss 117 27 49
Other financial instruments not designated at fair value through profit or loss 1,157 1,397 1,019
Available-for-sale financial assets 980 1,400 1,046
Loans and receivables 76 31 126
Other 101 (34) (153)
Total 865 1,435 1,608

Mientras que el desglose, atendiendo a la naturaleza de los instrumentos financieros que dieron lugar a estos saldos, es el siguiente:

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Gains (Losses) on Financial Assets and Liabilities
Breakdown by Nature of the Financial Instrument
Millions of euros
2015 2014 2013
Debt instruments 522 1,683 1,167
Equity instruments (414) 345 883
Loans and advances to customers 88 35 46
Derivatives 561 (648) (444)
Customer deposits 83 (4) 13
Rest 25 24 (56)
Total 865 1,435 1,608

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
2015 2014 2013
Trading derivatives


Interest rate agreements 666 (429) 139
Security agreements 751 34 (596)
Commodity agreements (1) (1) (1)
Credit derivative agreements 39 76 (59)
Foreign-exchange agreements (1,001) (285) 122
Other agreements 15 4 31
Subtotal 468 (601) (364)
Hedging Derivatives Ineffectiveness
-
Fair value hedging 80 (47) (98)
Hedging derivative (28) (488) (877)
Hedged item 108 441 779
Cash flow hedging 13 - 18
Subtotal 93 (47) (80)
Total 561 (648) (444)

In addition, in the years ended December 31, 2015, 2014 and 2013, under the heading “Exchange differences (net)” of the income statement, net amounts of positive €135 million, positive €39 million and positive €137 million, respectively, were recognized for transactions with foreign exchange trading derivatives.

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