Balance Sheet at 31 December 2010 of BBVA

The changes in 2010 and 2009 in the heading “Debt certificates (including bonds)” and “Subordinated
liabilities” were as follows:
2010
Balance at the
Beginning
Issuances
Millions of Euros
Repurchase or
Redemption
Exchange
Differences
and Other
Balance at the
End
Debt certificates issued in the European
Union 74,167 111,191 (125,362) (80) 59,916
With information brochure 74,167 111,191 (125,362) (80) 59,916
Without information brochure - - - - -
Subordinated deposits 9,767 - (773) 196 9,190
Total 83,934 111,191 (126,135) 116 69,106
2009
Balance at the
Beginning
Issuances
Millions of Euros
Repurchase or
Redemption
Exchange
Differences
and Other
Balance at the
End
Debt certificates issued in the European
Union 61,644 98,756 (86,187) (46) 74,167
With information brochure 61,644 98,756 (86,187) (46) 74,167
Without information brochure - - - - -
Subordinated deposits 10,525 927 (1,682) (3) 9,767
Total 72,169 99,683 (87,869) (49) 83,934
The detail of the most significant outstanding issuances, repurchases or refunds of debt instruments issued
by the Bank as of December 31, 2010 and 2009 are shown on Appendix IX.
20.4.1 PROMISSORY NOTES AND BILLS
The breakdown of the balance under this heading “Promissory notes and bills", by currency, is as follows:
Millions of Euros
Promissory notes and bills 2010 2009
In euros 7,308 9,127
In other currencies 5,543 18,512
Total 12,851 27,639
As of December 31, 2010 and 2009, the heading “Promissory notes and bills” recorded the balance of
several issues with maturity of less than one year carried out under debt security issue programs for the
amount of $25,000 million (€18,710 million, approx.) and €20,000 million in 2010, and $20,000 million
(€13,883 million) and €15,000 million in 2009.
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