52. Related-party transactions
As financial institutions, BBVA and other entities in the Group engage in transactions with related parties in the normal course of their business. All of these transactions are not material and are carried out under normal market conditions.
52.1 Transactions with significant shareholders
As of December 31, 2015 there were no shareholders considered significant (see Note 25).
52.2 Transactions with BBVA Group entities
The balances of the main aggregates in the accompanying consolidated balance sheets arising from the transactions carried out by the BBVA Group with associates and joint venture entities accounted for using the equity method are as follows:
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| Balances arising from transactions with Entities of the Group | Millions of euros | ||
|---|---|---|---|
| 2015 | 2014 | 2013 | |
| Assets: |
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| Loans and advances to credit institutions | 122 | 544 | 318 |
| Loans and advances to customers | 710 | 1,145 | 792 |
| Liabilities: |
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| Deposits from credit institutions | 2 | 142 | 5 |
| Customer deposits | 449 | 84 | 504 |
| Debt certificates | - | 16 | - |
| Memorandum accounts: |
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| Contingent risks | 1,671 | 960 | 691 |
| Contingent commitments | 28 | 161 | 46 |
The balances of the main aggregates in the accompanying consolidated income statements resulting from transactions with associates and joint venture entities that are accounted for under the equity method are as follows:
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| Balances of Income Statement arising from transactions with Entities of the Group | Millions of euros | ||
|---|---|---|---|
| 2015 | 2014 | 2013 | |
| Income statement: |
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| Financial income | 53 | 71 | 53 |
| Financial costs | 1 | 20 | 4 |
There were no other material effects in the consolidated financial statements arising from dealings with these entities, other than the effects from using the equity method (see Note 2.1) and from the insurance policies to cover pension or similar commitments, as described in Note 24; and the futures transactions arranged by BBVA Group with these entities, associates and joint ventures.
In addition, as part of its normal activity, the BBVA Group has entered into agreements and commitments of various types with shareholders of subsidiaries and associates, which have no material effects on the accompanying consolidated financial statements.
52.3 Transactions with members of the Board of Directors and Senior Management
The information on the remuneration of the members of the BBVA Board of Directors and Senior Management is included in Note 53.
As of December 31, 2015, 2014 and 2013, the amount availed against the loans by the Group’s entities to the members of the Board of Directors was €200, €235 and €141 thousand, respectively. As of December 31, 2015, 2014 and 2013 the amount availed against the loans by the Group’s entities to the members of Senior Management (excluding the executive directors) amounted to €6,641, €4,614 and €6,076 thousand, respectively.
As of December 31, 2015 the amount availed against the loans to parties related to the members of the Bank’s Board of Directors was €10,000, and as of December 31, 2014, there were no loans to parties related to the members of the Bank’s Board of Directors. As of December 31, 2013 the amount availed against the loans to parties related to the members of the Bank’s Board of Directors was €6,939 thousand. As of December 31, 2015 and 2014 the amount availed against the loans to parties related to members of the Senior Management amounted to €113 and €291 thousand, respectively. As of December 31, 2013 there were no loans to parties related to members of the Senior Management
As of December 31, 2015, 2014 and 2013 no guarantees had been granted to any member of the Board of Directors.
As of December 31, 2015, 2014 and 2013 no guarantees had been granted to any member of the Senior Management
As of December 31, 2015, 2014 and 2013 the amount availed against commercial loans and guarantees arranged with parties related to the members of the Bank’s Board of Directors and the Senior Management totaled €1,679, €419 and €5,192 thousand, respectively.
52.4 Transactions with other related parties
In the years ended December 31, 2015, 2014 and 2013 the Group did not conduct any transactions with other related parties that are not in the ordinary course of its business, which were carried out at arm's-length market conditions and of marginal relevance; whose information is not necessary to give a true picture of the BBVA Group’s consolidated net equity, net earnings and financial situation.