7.3. Value of equity investments and capital instruments

The accompanying table shows the book value, exposure and RWAs of portfolios held for sale and those held for strategic purposes:

TABLE 54: Breakdown of book value, EAD and RWAs of equity investments and capital instruments
2014

(Millions of euros)

	Equity investments and capital instruments (1)
	Book value	EAD	RWA
AFS (2) Permanent Investment (3)	7,102	6,633	11,099
	4,234	4,063	10,764
Total	11,335	10,696	21,863

(1) The 'Other financial assets with changes in P&L' portfolio has no balance (2) The difference between the book value and EAD is due to residual exposures whose capital use is calculated based on the credit risk models for the credit portfolio (3) The book value of permanent investment by company is shown in the annexes to this document

2013

	Equity investments and capital instruments
	Book value	EAD	RWA
AFS Permanent Investment	5,525	5,440	8,024
	4,880	3,377	5,464
Total	10,405	8,817	13,488

Of the total Permanent Investment Portfolio, there is only a listing price for the company Brunara, for the amount of 52 and 48 million euros as of December 31, 2014 and 2013, respectively.