2012 Registration document and annual financial report - BNP Paribas

CONSOLIDATED FINANCIAL STATEMENTS - YEAR ENDED 31 DECEMBER 2012Notes to the financial statements45.b DERIVATIVES USED FOR HEDGING PURPOSESThe table below shows the fair values of derivatives used for hedging purposes.In millions of eurosPositivefair value31 December 2012 31 December 2011Negativefair valuePositivefair valueNegativefair valueFair value hedges 10,571 15,574 6,920 12,902Currency derivatives - 24 4 8Interest rate derivatives 10,570 15,550 6,810 12,879Other derivatives 1 - 106 15Cash flow hedges 3,674 1,685 2,743 1,416Currency derivatives 271 287 312 245Interest rate derivatives 3,389 1,298 2,408 825Other derivatives 14 100 23 346Net foreign investment hedges 22 27 37 13Currency derivatives 22 27 37 13DERIVATIVES USED FOR HEDGING PURPOSES 14,267 17,286 9,700 14,3314The total notional amount of derivatives used for hedging purposes stood at EUR 809, 636 million at 31 December 2012, compared with EUR 799, 608 millionat 31 December 2011.5.c AVAILABLE-FOR-SALE FINANCIAL ASSETSAvailable-for-sale financial assets are measured at fair value or model value for unlisted securities.In millions of eurosNetof whichimpairmentlosses31 December 2012 31 December 2011of whichchangesin value takendirectly to equityNetof whichimpairmentlossesof whichchangesin value takendirectly to equityFixed-income securities 175,413 (69) 6,414 174,989 (162) (5,120)Treasury bills and government bonds 93,801 (4) 1,886 96,194 (2) (4,240)Other fixed-income securities 81,612 (65) 4,528 78,795 (160) (880)Equities and other variable-incomesecurities 17,093 (4,265) 2,868 17,479 (5,067) 1,621of which listed securities 5,861 (1,821) 1,357 6,092 (2,052) 619of which unlisted securities 11,232 (2,444) 1,511 11,387 (3,015) 1,002TOTAL AVAILABLE-FOR-SALEFINANCIAL ASSETS, NET OFIMPAIRMENT PROVISIONS 192,506 (4,334) 9,282 192,468 (5,229) (3,499)The gross amount of impaired fixed-income securities is EUR 118 million at 31 December 2012 (EUR 234 million at 31 December 2011).2012 Registration document and annual financial report - BNP PARIBAS 141