2012 Registration document and annual financial report - BNP Paribas

4CONSOLIDATEDFINANCIAL STATEMENTS - YEAR ENDED 31 DECEMBER 2012Notes to the financial statements4In millions of euros, at 31 December 2011NotdeterminedOvernightordemandUp to 1month(excl.overnight)1 to 3months3 monthsto 1 year1 to 5yearsMore than5 years TotalCash and amounts due from central banks 58,382 58,382Financial assets at fair value through profitor loss 820,463 820,463Derivatives used for hedging purposes 9,700 9,700Available-for-sale financial assets 17,479 5,581 13,589 17,681 50,398 87,740 192,468Loans and receivables due from creditinstitutions - 16,117 11,244 8,304 3,182 7,966 2,556 49,369Loans and receivables due from customers - 55,011 57,993 56,878 72,762 198,788 224,402 665,834Remeasurement adjustment on interest-raterisk hedged portfolios 4,060 4,060Held-to-maturity financial assets - 299 212 4,188 5,877 10,576FINANCIAL ASSETS BY MATURITY 851,702 129,510 74,818 79,070 93,837 261,340 320,575 1,810,852Due to central banks 1,231 1,231Financial liabilities at fair value through profitor loss 723,492 513 2,167 6,131 22,644 7,848 762,795Derivatives used for hedging purposes 14,331 14,331Due to credit institutions 21,234 49,429 21,475 6,159 42,282 8,575 149,154Due to customers 319,719 126,907 31,467 27,547 27,030 13,614 546,284Debt securities 28,020 31,856 27,896 49,713 20,301 157,786Subordinated debt 3,507 23 445 2,360 5,325 8,023 19,683Remeasurement adjustment on interest-raterisk hedged portfolios 356 356FINANCIAL LIABILITIES BY MATURITY 741,686 342,184 204,892 87,410 70,093 146,994 58,361 1,651,620The majority of the financing and guarantee commitments given, whichamounted to EUR 264, 284 million and EUR 91, 689 million respectivelyat 31 December 2012 (EUR 253, 298 million and EUR 106, 096 millionrespectively at 31 December 2011), can be drawn at sight.8.h FAIR VALUE OF FINANCIALINSTRUMENTS CARRIED AT AMORTISEDCOSTThe information supplied in this note must be used and interpreted withthe greatest caution for the following reasons:■ these fair values are an estimate of the value of the relevantinstruments as of 31 December 2012. They are liable to fluctuatefrom day to day as a result of changes in various parameters, suchas interest rates and credit quality of the counterparty. In particular,they may differ significantly from the amounts actually received orpaid on maturity of the instrument. In most cases, the fair value isnot intended to be realised immediately, and in practice might not berealised immediately. Consequently, this fair value does not reflectthe actual value of the instrument to BNP Paribas as a going concern;■ most of these fair values are not meaningful, and hence are not takeninto account in the management of the commercial banking activitieswhich use these instruments;■ estimating a fair value for financial instruments carried at historicalcost often requires the use of modelling techniques, hypotheses andassumptions that may vary from bank to bank. This means thatcomparisons between the fair values of financial instruments carried athistorical cost as disclosed by different banks may not be meaningful;■ the fair values shown below do not include the fair values of nonfinancialinstruments such as property, plant and equipment, goodwilland other intangible assets such as the value attributed to demanddeposit portfolios or customer relationships. Consequently, thesefair values should not be regarded as the actual contribution of theinstruments concerned to the overall valuation of the BNP ParibasGroup.2102012 Registration document and annual financial report - BNP PARIBAS