1. The Group, its strategy and activities - Page 369 | edf - Universal Registration Document

Note 42 Other information on financial assets and liabilities

42.1 Fair value of financial instruments

The following tables show the breakdown of financial assets and liabilities in the balance sheet, by level.

42.1.1 At 31 December 2019

(in millions of euros)	Balance sheet value	Fair value	Level 1 Unadjusted quoted prices	Level 2 Observable data	Level 3 Non-observable data
Financial assets at fair value through profit and loss⁽¹⁾	Financial assets at fair value through profit and loss ⁽¹⁾ Balance sheet value 6,813	Financial assets at fair value through profit and loss ⁽¹⁾ Fair value 6,813	Financial assets at fair value through profit and loss ⁽¹⁾ Level 1 Unadjusted quoted prices 53	Financial assets at fair value through profit and loss ⁽¹⁾ Level 2 Observable data 6,244	Financial assets at fair value through profit and loss ⁽¹⁾ Level 3 Non-observable data 516
Debt and equity securities	Debt and equity securities Balance sheet value 46,157	Debt and equity securities Fair value 46,157	Debt and equity securities Level 1 Unadjusted quoted prices 3,733	Debt and equity securities Level 2 Observable data 41,800	Debt and equity securities Level 3 Non-observable data 624
Positive fair value of hedging derivatives	Positive fair value of hedging derivatives Balance sheet value 5,759	Positive fair value of hedging derivatives Fair value 5,759	Positive fair value of hedging derivatives Level 1 Unadjusted quoted prices 15	Positive fair value of hedging derivatives Level 2 Observable data 5,731	Positive fair value of hedging derivatives Level 3 Non-observable data 13
Cash equivalents carried at fair value	Cash equivalents carried at fair value Balance sheet value 236	Cash equivalents carried at fair value Fair value 236	Cash equivalents carried at fair value Level 1 Unadjusted quoted prices 156	Cash equivalents carried at fair value Level 2 Observable data 80	Cash equivalents carried at fair value Level 3 Non-observable data -
FINANCIAL ASSETS CARRIED AT FAIR VALUE IN THE BALANCE SHEET	FINANCIAL ASSETS CARRIED AT FAIR VALUE IN THE BALANCE SHEET Balance sheet value 58,965	FINANCIAL ASSETS CARRIED AT FAIR VALUE IN THE BALANCE SHEET Fair value 58,965	FINANCIAL ASSETS CARRIED AT FAIR VALUE IN THE BALANCE SHEET Level 1 Unadjusted quoted prices 3,957	FINANCIAL ASSETS CARRIED AT FAIR VALUE IN THE BALANCE SHEET Level 2 Observable data 53,855	FINANCIAL ASSETS CARRIED AT FAIR VALUE IN THE BALANCE SHEET Level 3 Non-observable data 1,153
Loans and financial receivables – assets receivable from the NLF	Loans and financial receivables – assets receivable from the NLF Balance sheet value 13,303	Loans and financial receivables – assets receivable from the NLF Fair value 13,303	Loans and financial receivables – assets receivable from the NLF Level 1 Unadjusted quoted prices -	Loans and financial receivables – assets receivable from the NLF Level 2 Observable data 13,303	Loans and financial receivables – assets receivable from the NLF Level 3 Non-observable data -
Loans and financial receivables – CSPE	Loans and financial receivables – CSPE Balance sheet value 684	Loans and financial receivables – CSPE Fair value 688	Loans and financial receivables – CSPE Level 1 Unadjusted quoted prices -	Loans and financial receivables – CSPE Level 2 Observable data 688	Loans and financial receivables – CSPE Level 3 Non-observable data -
Other loans and financial receivables	Other loans and financial receivables Balance sheet value 2,904	Other loans and financial receivables Fair value 2,904	Other loans and financial receivables Level 1 Unadjusted quoted prices -	Other loans and financial receivables Level 2 Observable data 2,904	Other loans and financial receivables Level 3 Non-observable data -
FINANCIAL ASSETS CARRIED AT AMORTISED COST	FINANCIAL ASSETS CARRIED AT AMORTISED COST Balance sheet value 16,891	FINANCIAL ASSETS CARRIED AT AMORTISED COST Fair value 16,895	FINANCIAL ASSETS CARRIED AT AMORTISED COST Level 1 Unadjusted quoted prices -	FINANCIAL ASSETS CARRIED AT AMORTISED COST Level 2 Observable data 16,895	FINANCIAL ASSETS CARRIED AT AMORTISED COST Level 3 Non-observable data -
Negative fair value of hedging derivatives	Negative fair value of hedging derivatives Balance sheet value 1,830	Negative fair value of hedging derivatives Fair value 1,830	Negative fair value of hedging derivatives Level 1 Unadjusted quoted prices 5	Negative fair value of hedging derivatives Level 2 Observable data 1,825	Negative fair value of hedging derivatives Level 3 Non-observable data -
Negative fair value of trading derivatives	Negative fair value of trading derivatives Balance sheet value 6,327	Negative fair value of trading derivatives Fair value 6,327	Negative fair value of trading derivatives Level 1 Unadjusted quoted prices 38	Negative fair value of trading derivatives Level 2 Observable data 5,914	Negative fair value of trading derivatives Level 3 Non-observable data 375
FINANCIAL LIABILITIES CARRIED AT FAIR VALUE IN THE BALANCE SHEET	FINANCIAL LIABILITIES CARRIED AT FAIR VALUE IN THE BALANCE SHEET Balance sheet value 8,157	FINANCIAL LIABILITIES CARRIED AT FAIR VALUE IN THE BALANCE SHEET Fair value 8,157	FINANCIAL LIABILITIES CARRIED AT FAIR VALUE IN THE BALANCE SHEET Level 1 Unadjusted quoted prices 43	FINANCIAL LIABILITIES CARRIED AT FAIR VALUE IN THE BALANCE SHEET Level 2 Observable data 7,739	FINANCIAL LIABILITIES CARRIED AT FAIR VALUE IN THE BALANCE SHEET Level 3 Non-observable data 375
Loans and other financial liabilities⁽²⁾	Loans and other financial liabilities ⁽²⁾ Balance sheet value 67,380	Loans and other financial liabilities ⁽²⁾ Fair value 75,407	Loans and other financial liabilities ⁽²⁾ Level 1 Unadjusted quoted prices -	Loans and other financial liabilities ⁽²⁾ Level 2 Observable data 75,407	Loans and other financial liabilities ⁽²⁾ Level 3 Non-observable data -
FINANCIAL LIABILITIES CARRIED AT AMORTISED COST	FINANCIAL LIABILITIES CARRIED AT AMORTISED COST Balance sheet value 67,380	FINANCIAL LIABILITIES CARRIED AT AMORTISED COST Fair value 75,407	FINANCIAL LIABILITIES CARRIED AT AMORTISED COST Level 1 Unadjusted quoted prices -	FINANCIAL LIABILITIES CARRIED AT AMORTISED COST Level 2 Observable data 75,407	FINANCIAL LIABILITIES CARRIED AT AMORTISED COST Level 3 Non-observable data -

(1) Including €6,813 million for the positive fair value of trading derivatives.
(2) Loans and other financial liabilities are carried in the balance sheet at amortised cost, adjusted for changes in the fair value of risks covered by a fair value hedge.

Level 3 debt and equity securities are principally non-consolidated investments carried at historical value.

Cash equivalents, which principally take the form of negotiable debt instruments and short-term investments, are generally valued using yield curves, and therefore observable market data.