BANCO BILBAO VIZCAYA ARGENTARIA, S.A. AND ... - BBVA

The following table show the main financial instruments carried at fair value in the accompanying
consolidated balance sheets, broken down by the valuation technique level used to determine fair value:
Millions of Euros
June 2010 December 2009
Fair Value by Levels Notes Level 1 Level 2 Level 3 Level 1 Level 2 Level 3
ASSETS-
Financial assets held for trading 10 29,632 42,785 913 39,608 29,236 889
Debt securities 10.2 23,234 1,128 502 33,043 1,157 471
Other equity instruments 10.3 5,190 181 166 5,504 94 185
Trading derivatives 10.4 1,208 41,476 245 1,060 27,985 233
Other financial assets designated at fair
value through profit or loss 11 2,294 502 - 1,960 377 -
Debt securities 656 72 - 584 54 -
Other equity instruments 1,638 430 - 1,376 323 -
Available-for-sale financial assets 12 46,168 13,423 529 49,747 12,367 818
Debt securities 41,897 13,013 320 44,387 12,146 538
Other equity instruments 4,271 410 209 5,360 221 280
Hedging derivatives 15 307 4,279 - 302 3,293 -
LIABILITIES-
Financial liabilities held for trading 10 5,252 38,384 98 4,936 27,797 96
Trading derivatives 10.4 1,319 38,384 98 1,107 27,797 96
Short positions 10.1 3,933 - - 3,830 - -
Other financial liabilities designated at fair
value through profit or loss 11 - 1,651 - - 1,367 -
Hedging derivatives 15 128 2,063 - 319 989 -
Under the heading “Available-for-sale-financial assets” in the accompanying consolidated balance sheet as
of June 30, 2010 and December 31, 2009, additionally included €609 million and €589 million, respectively,
recognized at cost as indicated in “Financial instruments at cost”.
The changes in financial assets in level 3 are shown in the following table “Financial assets level 3. Changes
in the period.
The following table sets forth the main valuation techniques, hypotheses and inputs used in the estimation of
fair value of the financial assets classified under in level 2 and 3, based on the type of financial instrument as
of June 30, 2010:
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