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Guarantees and contingent commitments given

The breakdown of “Guarantees and contingent commitments given” included as memorandum items is set out below:

Breakdown of exposure and coverage on guarantees and contingent commitments at 31-12-2020 (Millions of euros)

  OFF-BALANCE-SHEET EXPOSURE HEDGING
  STAGE 1 STAGE 2 STAGE 3 STAGE 1 STAGE 2 STAGE 3
Financial guarantees given 5,902 294 164 (7) (9) (64)
Loan commitments given 75,400 2,772 327 (43) (11) (5)
Other commitments given 19,486 553 168 (7) (10) (37)

Breakdown of exposure and provisions on guarantees and contingent commitments at 31-12-2019 (Millions of euros)

  OFF-BALANCE-SHEET EXPOSURE HEDGING
  STAGE 1 STAGE 2 STAGE 3 STAGE 1 STAGE 2 STAGE 3
Financial guarantees given 5,574 190 218 (7) (4) (77)
Loan commitments given 68,702 2,216 214 (27) (4) (31)
Other commitments given 20,577 473 176 (12) (8) (50)

Breakdown of exposure and coverage on guarantees and contingent commitments at 01-01-2018 (Millions of euros)

  OFF-BALANCE-SHEET EXPOSURE HEDGING
  STAGE 1 STAGE 2 STAGE 3 STAGE 1 STAGE 2 STAGE 3
Financial guarantees given 5,329 182 224 (38) (24) (135)
Loan commitments given 62,004 1,691 258 (24) (2) (18)
Other commitments given 18,596 502 241 (7) (1) (106)

The Group only needs to pay the amount of contingent liabilities if the guaranteed counterparty breaches its obligations. It believes that most of these risks will reach maturity without being settled.

With respect to contingent commitments, the Group has an undertaking to facilitate funds to customers through drawables on lines of credit and other commitments, whenever it receives a request and subject to compliance with certain conditions by the counterparties. It believes that a large portion of them will fall due prior to drawdown, either because they will not be requested by customers or because the drawdown conditions will not be met.

The breakdown of “Loan commitments given” included as memorandum items in the balance sheet, is set out below:

Loan commitments given (Millions of euros)

    31/12/2020 31/12/2019 31/12/2018
    DRAWABLE LIMITS DRAWABLE LIMITS DRAWABLE LIMITS
Drawable by third parties
Credit institutions 103 943 213 244 93 232
Public administrations 4,390 6,890 3,729 4,711 1,960 2,608
Other sectors 74,006 103,697 67,190 121,994 61,900 117,820
TOTAL 78,499 111,530 71,132 126,949 63,953 120,660
Of which: conditionally drawable 3,839 3,751 4,098