13. Loans and receivables
The breakdown of the balance under this heading in the accompanying consolidated balance sheets, according to the nature of the financial instrument, is as follows:
Loans and Receivables | Notes | Millions of Euros | ||
---|---|---|---|---|
2011 | 2010 | 2009 | ||
Loans and advances to credit institutions | 13.1 | 26,107 | 23,637 | 22,239 |
Loans and advances to customers | 13.2 | 351,900 | 338,857 | 323,442 |
Debt securities | 13.3 | 3,069 | 2,213 | 436 |
Total | 381,076 | 364,707 | 346,117 |
13.1 Loans and advances to credit institutions
The breakdown of the balance under this heading in the accompanying consolidated balance sheets, according to the nature of the financial instrument, is as follows:
Loans and Advances to Credit Institutions | Notes | Millions of Euros | ||
---|---|---|---|---|
2011 | 2010 | 2009 | ||
Reciprocal accounts |
|
78 | 168 | 226 |
Deposits with agreed maturity |
|
8,389 | 7,307 | 8,301 |
Demand deposits |
|
2,731 | 2,008 | 2,091 |
Other accounts |
|
9,026 | 6,299 | 6,125 |
Reverse repurchase agreements | 37 | 5,788 | 7,822 | 5,457 |
Total gross | 7.1.1 | 26,012 | 23,604 | 22,200 |
Valuation adjustments |
|
95 | 34 | 39 |
Impairment losses | 7.1.8 | (47) | (67) | (68) |
Accrued interests and fees |
|
143 | 101 | 110 |
Hedging derivatives and others |
|
(1) | (1) | (3) |
Total net |
|
26,107 | 23,637 | 22,239 |
13.2 Loans and advances to customers
The breakdown of the balance under this heading in the accompanying consolidated balance sheets, according to the nature of the financial instrument, is as follows:
Loans and Advances to Customers | Notes | Millions of Euros | ||
---|---|---|---|---|
2011 | 2010 | 2009 | ||
Mortage secured loans |
|
130,703 | 132,630 | 127,957 |
Other secured loans |
|
29,353 | 18,155 | 20,917 |
Other loans |
|
118,650 | 102,001 | 98,238 |
Credit accounts |
|
14,980 | 23,705 | 19,683 |
Commercial credit |
|
13,152 | 21,229 | 24,031 |
Receivable on demand and other |
|
13,070 | 11,172 | 8,155 |
Credit cards |
|
10,179 | 8,074 | 7,098 |
Finance leases |
|
8,127 | 8,141 | 8,222 |
Reverse repurchase agreements | 37 | 4,827 | 4,760 | 987 |
Financial paper |
|
1,166 | 1,982 | 602 |
Impaired assets | 7.1.7 | 15,647 | 15,361 | 15,198 |
Total gross | 7.1. | 359,855 | 347,210 | 331,087 |
Valuation adjustments |
|
(7,954) | (8,353) | (7,634) |
Impairment losses | 7.1.8 | (9,410) | (9,396) | (8,720) |
Accrued interests and fees |
|
453 | 195 | 320 |
Hedging derivatives and others |
|
1,003 | 848 | 756 |
Total net |
|
351,901 | 338,857 | 323,442 |
As of December 31, 2011, 31% of "Loans and advances to customers" with a maturity greater than one year were concluded with fixed-interest rates and 69% with variable interest.
“Loans and advances to customers” includes finance lease arrangements provided by various entities in the Group for their customers to finance the purchase of assets, including movable and immovable property. The breakdown of the finance leases as of December 31, 2011, 2010 and 2009 is as follows:
Financial Lease Arrangements | Millions of Euros | ||
---|---|---|---|
2011 | 2010 | 2009 | |
Movable property | 4,876 | 4,748 | 4,963 |
Real Estate | 3,251 | 3,393 | 3,259 |
Fixed rate | 58% | 42% | 38% |
Floating rate | 42% | 58% | 62% |
The heading “Loans and receivables – Loans and advances to customers” in the accompanying consolidated balance sheets also includes certain mortgage loans that, as mentioned in Note 35 and pursuant to the Mortgage Market Act, are considered a suitable guarantee for the issue of long-term mortgage covered bonds. This heading also includes some loans that have been securitized and not derecognized from the consolidated balance sheets (see Note 2.2.2).
The amounts recognized in the accompanying consolidated balance sheets corresponding to these securitized loans are as follows:
Securitized Loans | Millions of Euros | ||
---|---|---|---|
2011 | 2010 | 2009 | |
Securitized mortgage assets | 33,163 | 31,884 | 33,786 |
Other securitized assets | 7,004 | 10,563 | 10,597 |
Commercial and industrial loans | 3,344 | 6,263 | 4,356 |
Finance leases | 594 | 771 | 1,380 |
Loans to individuals | 2,942 | 3,403 | 4,536 |
Rest | 124 | 126 | 325 |
Total | 40,168 | 42,447 | 44,383 |
Of which: |
|
|
|
Liabilities associated to assets retained on the balance sheet (*) | 7,510 | 8,846 | 9,012 |
Other securitized loans were derecognized from the accompanying consolidated balance sheets, as the Group did not retain any attendant risks or benefits, as specified below:
Derecognized Securitized Loans | Millions of Euros | ||
---|---|---|---|
2011 | 2010 | 2009 | |
Securitized mortgage assets | 7 | 24 | 116 |
Other securitized assets | 128 | 176 | 276 |
Total | 135 | 200 | 392 |
13.3 Debt securities
The breakdown of the balance under this heading in the accompanying consolidated balance sheets, according to the nature of the financial instrument, is as follows:
Debt securities | Notes | Millions of Euros | ||
---|---|---|---|---|
2011 | 2010 | 2009 | ||
Government |
|
2,128 | 2,040 | 342 |
Credit institutions |
|
631 | 6 | 4 |
Other sectors |
|
322 | 177 | 108 |
Total gross | 7.1 | 3,081 | 2,223 | 453 |
Valuation adjustments | 7.1.8 | (12) | (10) | (17) |
Total net |
|
3,069 | 2,213 | 436 |