44. Net gains (losses) on financial assets and liabilities (net)
The breakdown of the balance under this heading, by source of the related items, in the accompanying consolidated income statements is as follows:
Gains (Losses) on Financial Assets and Liabilities Breakdown by Headind of the Balance Sheet |
Millions of Euros | ||
---|---|---|---|
2011 | 2010 | 2009 | |
Financial assets held for trading | 1,054 | 643 | 321 |
Other financial assets designated at fair value through profit or loss | 4 | 83 | 79 |
Other financial instruments not designated at fair value through profit or loss | 56 | 715 | 492 |
Available-for-sale financial assets | 82 | 653 | 504 |
Loans and receivables | 33 | 25 | 20 |
Rest | (59) | 37 | (32) |
Total | 1,114 | 1,441 | 892 |
The breakdown of the balance under this heading in the accompanying income statements by the nature of financial instruments is as follows:
Gains (Losses) on Financial Assets and Liabilities Breakdown by Nature of the Financial Instrument |
Millions of Euros | ||
---|---|---|---|
2011 | 2010 | 2009 | |
Debt instruments | 450 | 782 | 875 |
Equity instruments | (322) | (318) | 1,271 |
Loans and advances to customers | 37 | 34 | 38 |
Derivatives | 876 | 847 | (1,318) |
Customer deposits | 4 | - | (2) |
Rest | 69 | 96 | 29 |
Total | 1,114 | 1,441 | 892 |
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:
Derivatives Trading and Hedging | Millions of Euros | ||
---|---|---|---|
2011 | 2010 | 2009 | |
Trading derivatives |
|
|
|
Interest rate agreements | (208) | 133 | (213) |
Security agreements | 831 | 712 | (993) |
Commodity agreements | 46 | (5) | (2) |
Credit derivative agreements | (11) | (63) | (130) |
Foreign-exchange agreements | 297 | 79 | 64 |
Other agreements | 2 | (1) | 10 |
Subtotal | 957 | 855 | (1,264) |
Hedging Derivatives Ineffectiveness |
|
|
|
Fair value hedging | (31) | (8) | (55) |
Hedging derivative | (112) | (127) | 58 |
Hedged item | 81 | 119 | (113) |
Cash flow hedging | (50) | - | 1 |
Subtotal | (81) | (8) | (54) |
Total | 876 | 847 | (1,318) |
In addition, in 2011, 2010 and 2009, under the heading “Exchange differences (net)” of the income statement, net amounts of positive €5 million, negative €287 million and positive €52 million, respectively, were registered for transactions with foreign exchange trading derivatives.