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

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Millions of Euros December 2009 Demand Deposits Savings Deposits Deposits with Agreed Maturity Repos Total Spain 23,836 27,245 38,370 7,572 97,023 Rest of Europe 2,975 457 18,764 3 22,199 The United States 11,548 10,146 46,292 - 67,986 Latin America 24,390 13,593 20,631 4,413 63,027 Rest of the world 440 181 2,527 - 3,148 Total 63,189 51,622 126,584 11,988 253,383 23.4. DEBT CERTIFICATES AND SUBORDINATED LIABILITIES The breakdown of the heading “Debt certificates (including bonds)” in the accompanying consolidated balance sheets, by type of financial instruments, was as follows: Debt Certificates Millions of Euros June 2010 December 2009 Promissory notes and bills In euros 9,479 11,024 In other currencies 8,603 18,558 Subtotal 18,082 29,582 Bonds and debentures issued In euros - Non-convertible bonds and debentures at floating interest rates 6,682 8,593 Non-convertible bonds and debentures at fixed interest rates 5,123 5,932 Covered bonds 36,333 34,708 Hybrid financial instruments 362 389 Bonds from securitization realized by the Group 7,332 8,407 Accrued interest and others (*) 3,462 2,731 In foreign currency - Non-convertible bonds and debentures at floating interest rates 3,618 4,808 Non-convertible bonds and debentures at fixed interest rates 2,284 2,089 Covered bonds 813 731 Hybrid financial instruments 1,465 1,342 Other securities associated to financial activities - - Bonds from securitization realized by the Group 832 605 Accrued interest and others (*) 19 22 Subtotal 68,325 70,357 Total 86,407 99,939 (*) Hedging operations and issuance costs. The breakdown of the heading “Subordinated liabilities” of the accompanying consolidated balance sheets, by type of financial instruments, was as follows: Millions of Euros Subordinated Liabilities June December 2010 2009 Subordinated debt 12,856 12,117 Preferred securities 5,262 5,188 Subtotal 18,118 17,305 Accrued interest until expiration 870 573 Total 18,988 17,878 92
The changes for the six months ended June 30, 2010 and 2009 under the headings “Debt certificates (including bonds)” and “Subordinated liabilities” were as follows: June 2010 Balance at Beginning Issuances Millions of Euros Repurchase or Redemption Exchange Differences and Other Balance at End Debt certificates issued in the European Union 107,068 59,451 (78,113) 4,859 93,265 With information brochure 107,034 59,451 (78,106) 4,838 93,217 Without information brochure 34 - (7) 21 48 Other debt certificates issued outside the European Union 10,748 2,024 (1,310) 668 12,130 Total 117,816 61,475 (79,423) 5,527 105,395 June 2009 Balance at Beginning Issuances Millions of Euros Repurchase or Redemption Exchange Differences and Other Balance at End Debt certificates issued in the European Union 111,158 67,118 (64,420) (4,751) 109,105 With information brochure 111,125 67,118 (64,420) (4,751) 109,072 Without information brochure 33 - - - 33 Other debt certificates issued outside the European Union 9,986 5,333 (3,869) (1,066) 10,384 Total 121,144 72,451 (68,289) (5,817) 119,489 The breakdown of the most significant outstanding issuances, repurchases or refunds of debt instruments issued by the Bank or companies in the Group as of June 30, 2010 and December 31, 2009 is shown on Appendix VIII. 23.4.1 PROMISSORY NOTES AND BILLS These promissory notes were issued mainly by BBVA, S.A. and Banco de Financiación, S.A. 23.4.2. BONDS AND DEBENTURES ISSUED The following table shows the weighted average interest rates of fixed and floating rate bonds and debentures issued in euros and foreign currencies for the six months ended June 30, 2010 and 2009: June 2010 June 2009 Interests Rates of Promissory Foreign Foreign Euros Euros Notes and Bills Issued Currency Currency Fixed rate 3.82% 5.05% 3.90% 4.10% Floating rate 0.96% 3.70% 1.39% 3.72% Most of the foreign-currency issuances are denominated in U.S. dollars. 23.4.3. SUBORDINATED LIABILITIES 23.4.3.1. SUBORDINATED DEBT These issuances are non-convertible subordinated debt and, accordingly, for debt seniority purposes, they rank behind ordinary debt. The breakdown of this heading in the accompanying consolidated balance sheets, disregarding valuation adjustments, by currency of issuance and interest rate, is disclosed in Appendix VIII. 93
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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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insurees, as the case may be, based
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• The discount rate used is deter
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2.2.16. FOREIGN CURRENCY TRANSACTIO
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2.2.22. CONSOLIDATED STATEMENTS OF
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IFRIC 17 - Distributions of non-cas
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The Group’s activity is mainly lo
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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
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Page 68 and 69: Financial Instruments LEVEL 2 Valua
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Page 72 and 73: 10.2. DEBT SECURITIES The breakdown
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Page 82 and 83: December 2009 Currency Risk Interes
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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 96 and 97: The item “Subordinated Liabilitie
Page 98 and 99: The breakdown of the commitments pe
Page 100 and 101: June 30, 2010 and December 31, 2009
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
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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 124 and 125: 48. PROVISIONS (NET) The net allowa
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Page 134 and 135: APPENDIX I. FINANCIAL STATEMENTS OF
Page 136 and 137: Millions of Euros LIABILITIES AND E
Page 142 and 143: 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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