Balance Sheet at 31 December 2010 of BBVA

See sections: B.2.2 and B.2.3
Complies
53. The Board of Directors seeks to present the financial statements to the shareholders at the General
Shareholders’ Meeting without reservations or qualifications in the auditor’s report and, in the exceptional
instances where they do exist, both the Chairman of the Audit Committee and the auditors give a clear
account to the shareholders of the content and scope of such reservations or qualifications.
See section: B.1.38
Complies
54. The majority of the members of the Appointments Committee –or of the Appointments and
Remuneration Committee, if one and the same– are independent directors.
See section: B.2.1
Complies
55. The Nominating Committee has the following duties, in addition to those stated in the earlier
Recommendations:
a) To assess the qualifications, background knowledge and experience necessary to sit on the Board,
defining, accordingly, the duties and qualifications required of the candidates to fill each vacancy, and
decide the time and dedication necessary for them to properly perform their duties.
b) To examine or organize, in the manner it deems appropriate, the succession of the Chairman and the
chief executive and, if appropriate, make proposals to the Board for such succession to take place in an
orderly and well-planned manner.
c) To report on senior manager appointments and removals that the chief executive proposes to the
Board.
d) To report to the Board on the gender diversity issues discussed in Recommendation 14 of this Code.
See section: B.2.3
Complies
56. The Nominating Committee consults with the Company’s Chairman and chief executive, especially on
matters relating to executive directors.
And that any board member may request that the Nominating Committee consider possible candidates to
fill vacancies for the position of director, if it finds them suitably qualified.
Complies
57. The Compensation Committee is responsible for the following duties, in addition to those set forth in
the earlier recommendations:
a) To propose to the Board of Directors:
i) The compensation policy for directors and senior managers;
ii) The individual compensation of executive directors and other terms of their contracts;
iii) The basic terms and conditions of the contracts with senior managers.
See sections: B.1.14 and B.2.3
Complies
58. The Compensation Committee consults with the Chairman and chief executive of the Company,
especially on matters relating to executive directors and senior managers.
Complies
WARNING: The English version is only a translation of the original in Spanish for information purposes. In case of a discrepancy,
the Spanish original prevails.