BANCO BILBAO VIZCAYA ARGENTARIA, S.A. AND ... - BBVA
BANCO BILBAO VIZCAYA ARGENTARIA, S.A. AND ... - BBVA
BANCO BILBAO VIZCAYA ARGENTARIA, S.A. AND ... - BBVA
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12.4. GAINS/LOSSES<br />
The changes in the gains/losses, net of taxes, recognized under the equity heading “Valuation adjustments –<br />
Available-for-sale financial assets” of the accompanying consolidated balance sheets was as follows:<br />
Changes in Valuation Adjustments - Available-for-<br />
Sale Financial Assets<br />
Millions of Euros<br />
June<br />
2010<br />
December<br />
2009<br />
Balance at beginning 1,951 931<br />
Valuation gains and losses (2,108) 1,520<br />
Income tax 518 (483)<br />
Amounts transferred to income 101 (17)<br />
Balance at the end 462 1,951<br />
Of which:<br />
Debt securities (412) 456<br />
Equity instruments 874 1,495<br />
The losses recognized in the heading “Valuation adjustments – Available for sale financial assets” as of<br />
June 30, 2010, correspond to Spanish government debt securities.<br />
After analyzing these losses, it was concluded that they are temporary, since the deadlines for interest<br />
payments have been met for all debt securities, there is no evidence that the issuer will not continue meeting<br />
the payment terms and the future payments of principal and interest are sufficient to recover the cost of the<br />
debt securities.<br />
The losses recognized under the heading “Impairment losses on financial assets (net) - Other financial<br />
instruments not valued at fair value through profit or loss” in the consolidated income statement for the six<br />
months ended June 30, 2010 and 2009, amounted to €69 million and €76 respectively (see Note 49).<br />
13. LOANS <strong>AND</strong> RECEIVABLES<br />
13.1. BREAKDOWN OF THE BALANCE<br />
The detail of the balance of this heading in the accompanying consolidated balance sheets, based on the<br />
nature of the financial instrument, was as follows:<br />
Millions of Euros<br />
Loans and Receivables<br />
June December<br />
2010 2009<br />
Loans and advances to credit institutions 21,846 22,239<br />
Loans and advances to customers 339,259 323,442<br />
Debt securities 661 436<br />
Total 361,766 346,117<br />
75