Other information

Main risks and uncertainties

BBVA Group’s risk management system and risk exposure is described in Note 7 “Risk management” of the accompanying Consolidated Financial Statements.

Contractual obligations and off-balance-sheet operations

Information on contingent risks and commitments can be found in Note 33 of the accompanying Consolidated Financial Statements. Information on sale and purchase commitments and future payment obligations can be found in Note 35 of the accompanying Consolidated Financial Statements.

Patents, licenses or similar

At the time of preparing the accompanying Consolidated Financial Statements, the BBVA Group is not materially dependent on the issuance of patents, licenses and industrial, mercantile or financial contracts or on new manufacturing processes in carrying out its business purpose.

Subsequent events

From January 1, 2018 to the date of preparation of these Annual Consolidated Accounts, no other subsequent events not mentioned above in these financial statements have taken place that could significantly affect the Group’s earnings or its equity position.

Transition to IFRS 9

Under Commission Regulation (EU) No. 2016/2067 of 22 November 2016, all companies governed by the law of a Member State of the European Union, and whose securities are traded on a regulated market in one of the States of the European Union, must apply IFRS 9 as from the commencement date of their first financial year starting on or after January 1, 2018 (see Note 2.3 from the attached Annual Financial Statements); and it is the Group’s intention to use the option allowed by the standard itself of not reformulating the comparative financial statements for 2017 that will be presented in the Consolidated Financial Statements for 2018.