FINANCIAL REPORT 2016

Additional information

Expected value at the reclassification date

Effective interest rate (in %)

Future Cash flows

(in thousands of euros)

Financial assets at fair value through profit or loss reclassified as loans and receivables Available-for-sale financial assets transferred to loans and receivables

1269407

0.028

TOTAL RECLASSIFIED ASSETS

1269407

0.028

2.10. FAIRVALUEOF FINANCIAL INSTRUMENTS

The calculations are the best estimations possible. In the absence of a market and of reliable data, fair value is determined at the closing date using an appropriate method that is consistent with the valuation methods used in financial markets: market value of a comparable instrument, discounted future cash flows, or valuation models. Considering the hypothesis and uncertainties the models contain, the fair values stated might not be materialised at the outcome of the operation. In practice and in business continuity logic, all of the financial instruments couldn’t be subject to an immediate realisation for the values quoted below.

For financial instruments that are traded in an active market (i.e. prices are quoted and disseminated), the best estimate of fair value is their market price. The amounts hereafter quoted are those estimated at the closing date, they are likely to evolve with the changes of the markets’ conditions or of other factors’ changes.

2.10.1. FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES MEASURED AT AMORTISED COST Financial assets recognised at cost and measured at fair value on the balance sheet

Quoted prices in active markets for identical instruments: LEVEL 1

Valuation based on observable data: LEVEL 2

Valuation based on unobservable data: LEVEL 3

Total 31.12.2016

(in thousands of euros)

Financial assets not measured at fair value on balance sheet LOANS AND RECEIVABLES

35454834 28409645

0 0

35454834 28409645

0 0

Loans and receivables due from credit institutions

Current accounts and overnight loans

13779390

13779390

Accounts and term deposits

468850

468850

Securities bought under repurchase agreements

4337578

4337578

Securities not quoted in an active market

9823827

9823827

Loans and receivables due from customers

7045189

0

7045189

0

Trade receivables

859

859

Other customer loans

271904

271904

Securities bought under repurchase agreements

4226640

4226640

Advances in associates current accounts

-

Current accounts in debit

2545786

2545786

TOTAL FINANCIAL ASSETS OF WHICH FAIR VALUE IS DISCLOSED

35454834

0

35454834

0

40