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34. Contingent risks and commitments

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The breakdown of the balance of these headings in the accompanying consolidated balance sheets is as follows:

Financial Guarantees and Drawable by Third Parties Millions of Euros
2011 2010 2009
Contingent Risks


Collateral, bank guarantees and indemnities 31,103 28,092 26,266
Rediscounts, endorsements and acceptances 88 49 45
Rest 8,713 8,300 6,874
Total Contingent Risks 39,904 36,441 33,185
Contingent Commitments      
Drawable by third parties: 88,978 86,790 84,925
Credit institutions 2,417 2,303 2,257
Government and other government agency 3,143 4,135 4,567
Other resident sectors 24,119 27,201 29,604
Non-resident sector 59,299 53,151 48,497
Other commitments 4,788 3,784 7,398
Total Contingent Commitments 93,766 90,574 92,323
Total contingent Risks and Commitments 133,670 127,015 125,508

Since a significant portion of the amounts above will reach maturity without any payment obligation materializing for the consolidated companies, the aggregate balance of these commitments cannot be considered as an actual future requirement for financing or liquidity to be provided by the BBVA Group to third parties.

In 2011, 2010 and 2009 no issuances of debt securities carried out by associate entities of the BBVA Group, jointly controlled entities (accounted for using the equity method) or non-Group entities have been guaranteed.

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