2007 REGISTRATION DOCUMENT

5CONSOLIDATED FINANCIAL STATEMENTS< Contents >Note 3. Segment information 1333.a Information by business segment 1343.b Information by geographic area 134Note 4. Risk exposure and hedging strategies 1364.a Credit risk 1364.a.1 Group’s gross exposure to credit risk 1364.a.2 Management of credit risk – lending activities 1374.a.3 Diversification of credit risks of financing actvities 1384.a.4 Quality of the portfolio exposed to credit risk 1414.a.5 Loans with past-due instalments and related collateral or other security 1424.a.6 Management of counterparty risk on market activities 1434.b Market risks related to financial instruments 1444.b.1 Risk acceptance process 1444.b.2 Measurement of market risk on trading activities 1444.c Market risks related to banking intermediation activities and investments 1454.c.1 Interest rate risk 1454.c.2 Currency risk 1474.c.3 Hedging of interest rate and currency risks 1474.d Liquidity and refinancing risk 1484.d.1 Liquidity risk management policy 1484.d.2 Liquidity risk management and supervision 1484.d.3 Risk mitigation techniques 1494.e Insurance risks 1494.e.1 Financial risks 1494.e.2 Insurance subscription risks 1504.f Impact of the subprime crisis in second-half 2007 1504.f.1 Background 1504.f.2 Review of BNP paribas positions exposed to the effects of the crisis 1514.f.3 Direct effects of the second half 2007 crisis on profit for the year 152Note 5. Notes to the balance sheet at 31 December 2007 1525.a Financial assets, financial liabilities and derivatives at fair value through profit or loss 1525.b Derivatives used for hedging purposes 1555.c Available-for-sale financial assets 1565.d Interbank and money-market items 1565.e Customer items 1575.f Debt securities and subordinated debt 1585.f.1 Redeemable subordinated debt 1585.f.2 Undated subordinated debt 1585.f.3 Breakdown of debt securities and subordinated debt by contractual maturity 16012345678910111082007 Registration document - BNP PARIBAS