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Crédit Agricole S.A.Update of the 2011 registration document - A03Guarantees held and assets received as collateralGuarantees held and assets received as collateral by Crédit Agricole S.A. Group which it is allowed to sell orto use as collateral amount to €302.4 billion at 30 June 2012, mostly within:Crédit Agricole S.A. (€136 billion) The majority of these are receivables pledged ascollateral by the Regional Banks to Crédit Agricole S.A., as Crédit Agricole S.A. acts as thecentralising body for the external refinancing organisations.Crédit Agricole CIB (€115.3 billion). The majority of these guarantees consist of mortgageliens, collateral or guarantees received, regardless of the quality of the assets guaranteed.They are mainly related to repurchase agreements and securities pledged to guaranteebrokerage transactions ;With the exception of securities received under repurchase agreements (€123.8 billion at 30 June 2011,compared with €111.2 billion at 31 December 2011) and securities received as guarantees or collateral(€176.8 billion at 31 December 2011, compared with €141.5 billion at 31 December 2011), the guaranteesheld by Crédit Agricole S.A. which it is allowed to sell or to use as collateral are not material. Their use ismarginal to the Group and therefore is not the subject of a systematic policy.Crédit Agricole S.A. Group policy is to sell seized collateral as soon as possible. Crédit Agricole CIB andCrédit Agricole S.A. had no such assets at 30 June 2012.Receivables received and pledged as collateralCrédit Agricole Group participates in the refinancing facilities provided by Société de financement del’économie française (SFEF). Under the terms of this transaction, the Regional Banks and certain Groupsubsidiaries pledge receivables as collateral to Crédit Agricole S.A., which in turn pledges them to SFEF toguarantee the loans granted by SFEF to the Group. Within Crédit Agricole S.A. Group, the collateral pledgedby the Regional Banks and the collateral received by Crédit Agricole S.A. do not cancel each other outentirely, because the Regional Banks are equity-accounted.On June 30th, 2012, within the framework of refinancing facilities provided by Société de financement del’économie française (SFEF) in 2009, €13.8 billion of receivables remain pledged as collateral by the CréditAgricole S.A. Group (compared to €25 billions on December 31st, 2011) corresponding to a loan outstandinggranted by the SFEF of €8.9 billion. The Regional Banks and their subsidiaries retain all risks and rewardsassociated with these receivables.Crédit Agricole S.A. Group pledged €99.7 billion in receivables at 30 June 2012 for refinancing transactionsto the Banque de France via Crédit Agricole S.A., compared to €61.1 billion at 31 December 2012. Finally,€23 billion in receivables was directly pledged to Banque de France by subsidiaries at 31 December 2011.Crédit Agricole S.A. Group pledged €21.1 billion in receivables at 30 June 2012 for refinancing transactionsto the Caisse de Refinancement de l’Habitat via Crédit Agricole S.A., compared to €18.1 billion at31 December 2011. Finally, €8.3 billion in receivables was directly pledged to Caisse de Refinancement del’Habitat by LCL at 30 June 2012.Finally, concerning secured issues on June 30th, 2012, €42 billion euros of receivables fom Regional Banksand LCL were also brought in guarantee to Crédit Agricole Home Loan SFH, financial company fullycontrolled by Crédit Agricole S.A.Page 184 sur 237
Crédit Agricole S.A.Update of the 2011 registration document - A03Note 7 Reclassification of financial instrumentsDuring the first half of 2012 the Group did not realize reclassifications such as allow by conditions set out bythe amendment to IAS39. The information on the previous reclassifications is given below.The table below resumes their value at the reclassification date as well as the value on June 30th, 2012 ofassets reclassified in prior periods and which remain in the asset side of the Group’s balance sheet at thiscurrent date.(in million of euros)Total reclassifiedassetsCarryingamount30/06/2012Estimatedmarketvalue at Reclassification30/06/2012valueAssets reclassified duringthe first half of 2012Carryingamount30/06/2012Estimatedmarketvalue30/06/2012Carryingamount30/06/2012Assets reclassifiedbefore 2012Estimatedmarketvalue30/06/2012Carryingamount31/12/2011Estimatedmarketvalue31/12/2011Financial assets at fair valuethrough profit or lossreclassified as loans andreceivables 5,263 4,731 5,263 4,731 5,902 5,322Available-for-sale financialassets reclassifiedas loans and receivablesTOTAL RECLASSIFIEDASSETS 5,263 4,731 5,263 4,731 5,902 5,322Contribution of reclassified assets to net income since the reclassification dateThe contribution of the reclassified assets since the date of reclassification to net income for the yearincludes all gains, losses, income and expenses recognised in profit or loss or in other comprehensiveincome(in million ofeuros)Assets reclassified duringthe first half of 2012Impact at30/06/2012If assetshad beenretained inActual their formerincome and categoryexpenses (change inrecognised fair value)Impact on pre-tax income since reclassification dateAggergate impactat 31/12/2011If assetshad beenretained inActual their formerincome and categoryexpenses (change inrecognised fair value)Assets reclassified beforethe first half of 2012Impact for thefirst half of 2012If assetshad beenretained inActual their formerincome and categoryexpenses (change inrecognised fair value)Aggregate impactat 30/06/2012If assetshad beenretained inActual their formerincome and categoryexpenses (change inrecognised fair value)Financial assets at fairvalue through profit orloss reclassified asloans and receivables (36) (675) 220 269 184 (406)Available-for-salefinancial assetsreclassifiedas loans andreceivablesTOTALRECLASSIFIEDASSETS (36) (675) 220 269 184 (406)Page 185 sur 237
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JUNE 2012JUNE 2012JUNE 2012JUNE 201
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Total regulatory capital before ded
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