FINANCIAL REPORT 2016

2.5.2.1.4. Derivative instruments held for trading – fair value of liabilities

31.12.2016

31.12.2015

Exchange-traded

Over-the-counter

Total market value

Total market value

> 1 year ≤ 5 years > 5 years

> 1 year ≤ 5 years > 5 years

(in thousands of euros)

≤ 1 year

≤ 1 year

INTEREST RATE INSTRUMENTS:

0

0

0

174

0 2157

2331

4154

• Interest rate swaps

174

2157

2331

4154

CURRENCY AND GOLD:

0

0

0

0

0

0

0

0

• Currency options

OTHER:

0

0

0

7

0

0

7

7

• Commodities derivatives

7

7

7

SUBTOTAL

0

0

0

181

0 2157

2338

4161

• Forward currency transactions

401997

20

402016 328392

TOTAL

0

0

0 402178

20 2157 404354 332553

2.5.2.2. Derivative instruments: total commitments

31.12.2016

31.12.2015

(in thousands of euros)

INTEREST RATE INSTRUMENTS:

25449669 6860000 18589669

25749781

• Futures

• Interest rate swaps

25749781

CURRENCY AND GOLD:

928 928

0

• Currency Futures • Currency options OTHER: • Credit derivatives SUBTOTAL

0

0

25450597

25749781

• Forward currency transactions

79126794

84553336

TOTAL

104577391

110303117

2.5.2.3. Foreign exchange risk Foreign exchange is the risk of a change of value of a financial instrument due to a change in a currency’s value. 2.5.2.4. Liquidity and financing risk Liquidity and financing risk is the risk of loss if the company is unable to meet its financial commitments in timely fashion and at reasonable prices when they reach maturity. These commitments include obligations to depositors and suppliers, as well as commitments in respect of loans and investments.

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