2013 Registration document and annual financial report - page 251

Registration Document 2013
249
Financial Statemements
5
Consolidated Financial Statements And Notes
Note 29.5. Financial instruments
1. Currency hedges
The following tables analyze the nominal amount of currency hedges by maturity and the carrying amount of these instruments in the
statement of financial position, corresponding to their fair value, at December 31, 2013:
Forward sales and currency swaps
(in millions of euros)
Maturity 2014 Maturity 2015
December 31, 2013
Nominal amount
Fair value
JPY
30
-
30
(2)
CZK
15
-
15
-
HUF
7
-
7
-
Other
4
-
4
(1)
FORWARD SALES
56
-
56
(3)
Forward purchases and currency swaps
(in millions of euros)
Maturity 2014 Maturity 2015
December 31, 2013
Nominal amount
Fair value
GBP
132
-
132
(1)
HKD
119
-
119
-
AUD
98
-
98
3
USD
12
-
12
1
PLN
9
-
9
-
AED
5
-
5
-
Other
10
-
10
-
FORWARD PURCHASES
385
-
385
3
TOTAL CURRENCY HEDGING
441
-
441
-
For each currency, the nominal amount corresponds to the amount
of currency sold or purchased forward. Fair value corresponds to the
difference between the amount of the currency sold (purchased)
and the amount of the currency purchased (sold), converted in both
cases at the period-end forward exchange rate.
All the currency instruments listed above are used for hedging
purposes. Most are designated and documented fair value hedges of
intra-group loans and borrowings that qualify for hedge accounting.
2. Interest rate hedges
The following tables analyze the notional amount of interest rate hedges by maturity and the carrying amount of these instruments in the
statement of financial position, corresponding to their fair value, at December 31, 2013:
(in millions of euros)
2014
2015
2016 Beyond
December 31, 2013
Nominal amount
Fair value
EUR: Fixed-rate borrower swaps and caps
4
-
-
-
4
0
Interest rate hedges
4
-
-
-
4
0
The “notional amount” corresponds to the amount covered by the
interest rate hedge. “Fair value” corresponds to the amount that
would be payable or receivable if the positions were unwound on
the market.
All the interest rate instruments listed above are used for hedging
purposes.
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