11.1
The breakdown of this heading is as follows:
31/12/2020 | 31/12/2019 | 31/12/2018 | |||||||
ASSETS | LIABILITIES | ASSETS | LIABILITIES | ASSETS | LIABILITIES | ||||
Unmatured foreign currency purchases and sales | 336 | 341 | 247 | 251 | 405 | 407 | |||
Purchases of foreign currencies against euros | 48 | 309 | 121 | 53 | 222 | 33 | |||
Purchases of foreign currencies against foreign currencies | 17 | 18 | 47 | 58 | 138 | 131 | |||
Sales of foreign currencies against euros | 271 | 14 | 79 | 140 | 45 | 243 | |||
Acquisitions and sales of financial assets | 1 | ||||||||
Acquisitions | |||||||||
Sales | 1 | ||||||||
Financial futures on shares, interest rates and currencies | |||||||||
Bought | |||||||||
Sold | |||||||||
Share options | 264 | 247 | 221 | 228 | 203 | 253 | |||
Bought | 264 | 221 | 203 | ||||||
Issued | 247 | 228 | 253 | ||||||
Interest rate options | 103 | 108 | 95 | 99 | 103 | 119 | |||
Bought | 103 | 95 | 103 | ||||||
Issued | 108 | 99 | 119 | ||||||
Foreign currency options | 57 | 7 | 48 | 22 | 131 | 84 | |||
Bought | 57 | 48 | 131 | ||||||
Issued | 7 | 22 | 84 | ||||||
Other share and interest rate transactions | 3,912 | (5) | 4,171 | 865 | 4,670 | 5,449 | |||
Share swaps | 157 | 132 | 49 | 90 | 120 | 67 | |||
Future rate agreements (FRAs) | |||||||||
Interest rate swaps | 3,755 | (137) | 4,122 | 775 | 4,550 | 5,382 | |||
Credit derivatives | 12 | ||||||||
Sold | 12 | ||||||||
Commodity derivatives and other risks | 629 | (547) | 1,412 | 402 | 3,195 | 2,291 | |||
Swaps | 628 | (547) | 1,408 | 397 | 3,190 | 2,283 | |||
Bought | 1 | 4 | 5 | 5 | 8 | ||||
TOTAL | 5,301 | 151 | 6,194 | 1,867 | 8,707 | 8,616 | |||
Of which: contracted in organised markets | 35 | 51 | 27 | 34 | 32 | 78 | |||
Of which: contracted in non-organised markets | 5,266 | 100 | 6,167 | 1,833 | 8,675 | 8,538 |
For the most part, the Group hedges the market risk related to derivatives arranged with customers individually by arranging symmetric derivatives on the market, recognising both in the trading portfolio. In this way, the market risk arising from these operations is not significant.
11.2
The breakdown of this heading is as follows:
31/12/2020 | 31/12/2019 | 31/12/2018 | |
Shares in Spanish companies | 195 | 370 | 267 |
Shares in foreign companies | 60 | 87 | 81 |
TOTAL | 255 | 457 | 348 |
11.3
The breakdown of this heading is as follows:
31/12/2020 | 31/12/2019 | 31/12/2018 | |
Spanish government debt securities * | 442 | 365 | 605 |
Foreign government debt securities * | 174 | 114 | 25 |
Issued by credit institutions | 40 | 97 | 46 |
Other Spanish issuers | 92 | 76 | 37 |
Other foreign issuers | 53 | 67 | 42 |
TOTAL | 801 | 719 | 755 |
(*) See Note 3.4.1., section 'Concentration according to sovereign risk'.
(**) See ratings classification in Note 3.4.1., section "Concentration according to credit quality".
11.4
The breakdown of this heading is as follows:
31/12/2020 | 31/12/2019 | 31/12/2018 | ||
On overdrafts on repurchase agreements | 273 | 471 | 399 | |
Debt securities - public debt (*) | 249 | 401 | 347 | |
Debt securities - other issuers | 24 | 70 | 52 | |
TOTAL | 273 | 471 | 399 |
(*) See Note 3.4.1., section 'Concentration according to sovereign risk'.
Overdrafts on repurchase agreements of debt securities are short-term transactions arranged to offset off-balance sheet positions that have been sold or are subject to a repurchase agreement.