Balance Sheet at 31 December 2010 of BBVA

Translation of financial statements originally issued in Spanish and prepared in accordance with generally accounting principles Spain
(See Note 1 and 54). In the event of a discrepancy, the Spanish-language version prevails.
5.4. RESIDUAL MATURITY
The breakdown, by contractual maturity, of the balances of certain headings in the balance sheets as of
December 31, 2010 and 2009, disregarding valuation adjustments if necessary, was as follows:
2010 Demand
Up to 1
Month
1 to 3
Months
Millions of Euros
3 to 12
Months
1 to 5 Years Over 5 Years Total
ASSETS -
Cash and balances with central banks 4,165 - - - - - 4,165
Loans and advances to credit institutions 1,119 10,052 3,324 2,523 7,518 4,311 28,847
Loans and advances to customers 13,983 27,565 14,824 30,538 53,520 98,572 239,002
Debt securities 2 2,703 2,727 5,273 18,801 16,620 46,126
OTC derivatives - 510 1,490 3,575 13,725 17,318 36,618
LIABILITIES-
Deposits from central banks 3 5,008 3,129 2,704 - - 10,844
Deposits from credit institutions 1,505 19,021 3,986 2,178 9,287 5,890 41,867
Deposits from customers 55,886 56,159 16,373 38,409 17,131 1,355 185,313
Debt certificates (including bonds) - 5,017 9,747 4,483 27,370 14,377 60,994
Subordinated liabilities - - - 100 3,101 9,457 12,658
Other financial liabilities 3,994 391 28 89 12 11 4,525
OTC derivatives - 658 1,437 3,716 12,141 15,721 33,673
2009 Demand
Up to 1
Month
1 to 3
Months
Millions of Euros
3 to 12
Months
1 to 5 Years Over 5 Years Total
ASSETS -
Cash and balances with central banks 2,705 - - 578 - - 3,283
Loans and advances to credit institutions 1,144 10,582 1,990 2,600 7,004 4,505 27,825
Loans and advances to customers 695 23,917 12,854 28,262 58,336 108,817 232,881
Debt securities - 3,853 4,283 7,332 25,635 17,721 58,824
OTC derivatives - 460 2,023 4,022 13,975 12,305 32,785
LIABILITIES-
Deposits from central banks 7 4,224 3,783 12,292 - - 20,306
Deposits from credit institutions 1,322 15,471 4,054 5,202 6,341 7,657 40,047
Deposits from customers 56,287 43,202 30,814 26,315 13,509 1,294 171,421
Debt certificates (including bonds) - 6,113 15,972 11,502 27,938 13,446 74,971
Subordinated liabilities - - - - - - -
Other financial liabilities 3,249 90 38 92 1 1 3,471
OTC derivatives - 638 1,556 3,748 13,075 10,551 29,568
6. FAIR VALUE OF FINANCIAL INSTRUMENTS
The fair value of a financial asset or a liability on a given date is the amount for which it could be exchanged
or settled, respectively, between two knowledgeable, willing parties in an arm’s length transaction in market
conditions. The most objective and common reference for the fair value of a financial asset or a liability is the
price that would be paid for it on an organized, transparent and deep market (“quoted price” or “market
price”).
If there is no market price for a given financial asset or liability, its fair value is estimated on the basis of the
price established in recent transactions involving similar instruments and, in the absence thereof, by using
mathematical measurement models sufficiently tried and trusted by the international financial community.
The estimates used in such models take into consideration the specific features of the asset or liability to be
measured and, in particular, the various types of risk associated with the asset or liability. However, the
limitations inherent in the measurement models developed and the possible inaccuracies of the assumptions
required by these models may mean that the fair value of an asset or liability that is estimated does not
coincide exactly with the price for which the asset or liability could be exchanged or settled on the date of its
measurement.
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