Balance Sheet at 31 December 2010 of BBVA

38. NET GAINS (LOSSES) ON FINANCIAL ASSETS AND LIABILITIES
The breakdown of the balance under this heading, by source of the related items, in the accompanying
income statements was as follows:
Millions of Euros
Net Gains (Losses) on Financial Assets and Liabilities 2010 2009
Financial assets held for trading 256 (133)
Other financial assets designated at fair value through profit or loss - -
Other financial instruments not designated at fair value through profit or loss 482 229
Available-for-sale financial assets 496 229
Loans and receivables - -
Held-to-maturity investments and Financial liabilities at amortized cost 18 -
Rest (32) -
Total 738 96
The breakdown of the balance of this heading in the accompanying income statements by the nature of
financial instruments was as follows:
Millions of Euros
Net Gains (Losses) on Financial Assets and Liabilities
Breakdown by Nature of the Financial Instrument
2010 2009
Debt instruments 343 185
Equity instruments (590) 1,079
Loans and advances to customers - -
Derivatives 947 (1,174)
Deposits from customers - -
Rest 38 6
Total 738 96
The breakdown of the balance of the impact of the derivatives (trading and hedging) on this heading in the
accompanying income statements, was as follows:
Millions of Euros
Derivatives Trading and Heading 2010 2009
Trading derivatives
Interest rate agreements 379 (122)
Security agreements 691 (912)
Commodity agreements (9) (4)
Credit derivative agreements (62) (130)
Other agreements - -
Subtotal 999 (1,168)
Hedging Derivatives Ineffectiveness
Fair value hedging (53) (7)
Hedging derivative (159) 9
Hedged item 106 (16)
Cash flow hedging 1 1
Subtotal (52) (6)
Total 947 (1,174)
In addition, in 2010 and 2009, negative €287 and positive €52 million, respectively, have been recognized
under the heading "Net Exchange differences" in the accompanying income statement, through foreign
exchange trading derivatives.
100