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

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December 2009 Currency Risk Interest Rate Risk Millions of Euros Equity Price Risk Other Risks OTC markets Credit institutions Fair value hedge - 1,985 (32) - 1,953 Cash flow hedge 17 258 (4) (4) 267 Net investment in a foreign operation hedge 1 (27) - - (26) Subtotal 18 2,216 (36) (4) 2,194 Other financial Institutions Fair value hedge - 123 (21) - 102 Cash flow hedge - - - - - Net investment in a foreign operation hedge - - - - - Subtotal - 123 (21) - 102 Other sectors Fair value hedge - (9) - - (9) Cash flow hedge - - - - - Net investment in a foreign operation hedge - - - - - Subtotal - (9) - - (9) Total 18 2,330 (57) (4) 2,287 Of which: Asset Hedging Derivatives 22 3,492 81 - 3,595 Of which: Liability Hedging Derivatives (4) (1,162) (138) (4) (1,308) Total The most significant cash flows forecasted for the coming years for cash flow hedging held on the balance sheet as of June 30, 2010 are shown below: Cash Flows of Hedging Instruments 3 Months or Less From 3 Months to 1 Year Millions of Euros From 1 to 5 Years More than 5 Years Receivable cash inflows 141 243 1,129 2,599 4,112 Payable cash outflows 72 278 783 2,677 3,810 Total The forecast cash flows in the table above will at most impact on the accompanying consolidated income statement until the year 2049. The amounts previously recognized in equity from cash flow hedges that were removed from equity and included in the consolidated income statement, either in the heading “Net gains (losses) on financial assets and liabilities” or in the heading “Exchange differences (net)”, for the six months ended June 30, 2010 and 2009 were €12 million and -€2 million respectively. The amount for derivatives designated as accounting hedges that did not pass the effectiveness test in 2010 was not significant. As of June 30, 2010 and December 31, 2009, there were no hedges of highly probable forecast transactions in the Group. 80
16. NON-CURRENT ASSETS HELD FOR SALE <strong>AND</strong> LIABILITIES ASSOCIATED WITH NON-CURRENT ASSETS HELD FOR SALE The composition of the balance of the heading “Non-current assets held for sale” in the accompanying consolidated balance sheets, broken down by the origin of the assets, is as follows: Non-Current Assets Held-for-Sale Breakdown by type of Asset Millions of Euros June December 2010 2009 From: Tangible fixed assets (net) 253 356 For own use 169 272 Assets leased out under an operating lease 84 84 Foreclosures or recoveries (net) 1,256 694 Foreclosures 1,079 628 Recoveries from financial leases 177 66 Total 1,509 1,050 Mean maturity of the assets through foreclosures and recoveries was less than 2 years. The increase of the balance of the heading “Non-current assets held for sale – From foreclosures or recoveries (net)” in the above table is basically due to foreclosed assets in Spain and the United States. As of June 30, 2010 and December 31, 2009, there were no liabilities associated with non-current assets held for sale. 17. INVESTMENTS IN ENTITIES ACCOUNTED FOR USING THE EQUITY METHOD The breakdown of the balances of “Investments in entities accounted for using the equity method” in the accompanying consolidated balance sheets is as follows: Millions of Euros Investments in Entities Accounted for Using the Equity Method June December 2010 2009 Associate entities 4,402 2,614 Jointly controlled entities 290 308 Total 4,692 2,922 81
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BANCO BILBAO VIZCAYA ARGENTARIA, S.
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27. COMMON STOCK...................
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Translation of consolidated financi
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Millions of Euros LIABILITIES AND E
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Millions of Euros June June Notes 2
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The BBVA Group ICFR Model is summar
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2.2. ACCOUNTING POLICIES AND VALUAT
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- Other financial instruments The f
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In the case of unsecured transactio
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2.2.2. TRANSFERS AND DERECOGNITION
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The fair value of non-current asset
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2.2.7. BUSINESS COMBINATIONS The re
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Page 36 and 37: 2.2.16. FOREIGN CURRENCY TRANSACTIO
Page 38 and 39: 2.2.22. CONSOLIDATED STATEMENTS OF
Page 40 and 41: IFRIC 17 - Distributions of non-cas
Page 42 and 43: The Group’s activity is mainly lo
Page 44 and 45: Changes in the Group The most signi
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Page 48 and 49: The breakdown of the consolidated n
Page 50 and 51: Management & Asset Allocation, Risk
Page 52 and 53: Maximum exposure to credit risk The
Page 54 and 55: debtors includes mortgages, cash gu
Page 56 and 57: Policies and procedures for prevent
Page 58 and 59: December 2009 Less than 6 Months Pa
Page 60 and 61: 7.2 MARKET RISK a) Market Risk Mark
Page 62 and 63: Below are the average interest rate
Page 64 and 65: 7.4. RISK CONCENTRATIONS Below is p
Page 66 and 67: Determining the fair value of finan
Page 68 and 69: Financial Instruments LEVEL 2 Valua
Page 70 and 71: The changes in the six months ended
Page 72 and 73: 10.2. DEBT SECURITIES The breakdown
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Page 76 and 77: 12.3. EQUITY INSTRUMENTS The breakd
Page 78 and 79: 13.2. LOANS AND ADVANCES TO CREDIT
Page 80 and 81: Millions of Euros December 2009 Amo
Page 84 and 85: 17.1. ASSOCIATES The following tabl
Page 86 and 87: 17.3. INFORMATION ABOUT ASSOCIATES
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Page 90 and 91: 21.3 RECONCILIATION The reconciliat
Page 92 and 93: 23. FINANCIAL LIABILITIES AT AMORTI
Page 94 and 95: Millions of Euros December 2009 Dem
Page 96 and 97: The item “Subordinated Liabilitie
Page 98 and 99: The breakdown of the commitments pe
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Page 102 and 103: Post-employments Benefits in Spain
Page 104 and 105: Post-Employment Actuarial Hypothesi
Page 106 and 107: during which to increase the common
Page 108 and 109: Reserves Assigned to the Consolidat
Page 110 and 111: Millions of Euros Valuation Adjustm
Page 112 and 113: on equity (ROE) by each business; a
Page 114 and 115: 39. INTEREST, INCOME AND SIMILAR EX
Page 116 and 117: 39.3. AVERAGE RETURN ON INVESTMENTS
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Page 122 and 123: linked to the movement of the Total
Page 124 and 125: 48. PROVISIONS (NET) The net allowa
Page 126 and 127: The table below breaks down the mai
Page 128 and 129: The amount disposed of the loans gr
Page 130 and 131: BBVA executive team. It is to end o
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Commission (CNMV) announced the lif
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APPENDIX I. FINANCIAL STATEMENTS OF
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Millions of Euros LIABILITIES AND E
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Millions of Euros (Continued) June
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APPENDIX II. Additional information
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APPENDIX III. Additional informatio
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APPENDIX V. Changes and notificatio
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APPENDIX VI. Fully consolidated sub
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APPENDIX VIII. Breakdown of the mos
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Outsanding as of June 30, 2010 of S
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APPENDIX IX. Consolidated balance s
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Diluted earnings per share Early re
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Other financial assets/liabilities
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The explanations of the changes in
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4. SUMMARIZED INTERIM CONSOLIDATED
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Spain and Portugal Millions of Euro
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Mexico Millions of Euros Mexico Jun
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South America Millions of Euros Sou
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The United States Millions of Euros
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Wholesale Banking and Asset Managem
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The changes in the principal headin
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Aggregating Tier I and Tier II, as
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BANCO BILBAO VIZCAYA ARGENTARIA, S.A. AND ... - BBVA

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