The fair value of hedging and trading derivatives reported in the balance sheet breaks down as follows:
| (in millions of euros) | Notes | 31/12/2021 | 31/12/2020 |
|---|---|---|---|
| Positive fair value of hedging derivatives | Positive fair value of hedging derivatives Notes 18.1.1 |
Positive fair value of hedging derivatives 31/12/20219,910 |
Positive fair value of hedging derivatives 31/12/20205,439 |
| Negative fair value of hedging derivatives | Negative fair value of hedging derivatives Notes 18.3.1 |
Negative fair value of hedging derivatives 31/12/2021(10,124) |
Negative fair value of hedging derivatives 31/12/2020(2,792) |
| FAIR VALUE OF HEDGING DERIVATIVES | FAIR VALUE OF HEDGING DERIVATIVES Notes
|
FAIR VALUE OF HEDGING DERIVATIVES 31/12/2021 (214) | FAIR VALUE OF HEDGING DERIVATIVES 31/12/2020 2,647 |
| Positive fair value of trading derivatives | Positive fair value of trading derivatives Notes 18.1.1 |
Positive fair value of trading derivatives 31/12/202120,061 |
Positive fair value of trading derivatives 31/12/20205,038 |
| Negative fair value of trading derivatives | Negative fair value of trading derivatives Notes 18.3.1 |
Negative fair value of trading derivatives 31/12/2021(22,027) |
Negative fair value of trading derivatives 31/12/2020(5,125) |
| FAIR VALUE OF TRADING DERIVATIVES | FAIR VALUE OF TRADING DERIVATIVES Notes
|
FAIR VALUE OF TRADING DERIVATIVES 31/12/2021 (1,966) | FAIR VALUE OF TRADING DERIVATIVES 31/12/2020 (87) |
The fair value of hedging and trading derivatives by type of risk hedged is shown below:
| (in millions of euros) | Notes | 31/12/2021 | 31/12/2020 |
|---|---|---|---|
| Hedging derivatives – interest rate risk | Hedging derivatives – interest rate risk Notes 18.7.2 |
Hedging derivatives – interest rate risk 31/12/20213,613 |
Hedging derivatives – interest rate risk 31/12/20203,149 |
| Hedging derivatives – foreign exchange risk | Hedging derivatives – foreign exchange risk Notes 18.7.3 |
Hedging derivatives – foreign exchange risk 31/12/2021407 |
Hedging derivatives – foreign exchange risk 31/12/2020(733) |
| Hedging derivatives – commodity risks | Hedging derivatives – commodity risks Notes 18.7.4 |
Hedging derivatives – commodity risks 31/12/2021(4,234) |
Hedging derivatives – commodity risks 31/12/2020231 |
| FAIR VALUE OF HEDGING DERIVATIVES | FAIR VALUE OF HEDGING DERIVATIVES Notes
|
FAIR VALUE OF HEDGING DERIVATIVES31/12/2021(214) | FAIR VALUE OF HEDGING DERIVATIVES 31/12/2020 2,647 |
| Trading derivatives – interest rate risk | Trading derivatives – interest rate risk Notes 18.7.2 |
Trading derivatives – interest rate risk 31/12/2021(27) |
Trading derivatives – interest rate risk 31/12/2020(25) |
| Trading derivatives – foreign exchange risk | Trading derivatives – foreign exchange risk Notes 18.7.3 |
Trading derivatives – foreign exchange risk 31/12/2021(45) |
Trading derivatives – foreign exchange risk 31/12/20204 |
| Trading derivatives – commodity risk | Trading derivatives – commodity risk Notes 18.7.4 |
Trading derivatives – commodity risk 31/12/2021(1,894) |
Trading derivatives – commodity risk 31/12/2020(66) |
| FAIR VALUE OF TRADING DERIVATIVES | FAIR VALUE OF TRADING DERIVATIVES Notes
|
FAIR VALUE OF TRADING DERIVATIVES31/12/2021(1,966) | FAIR VALUE OF TRADING DERIVATIVES 31/12/2020 (87) |
The fair value of hedging derivatives by type and purpose of hedge is shown below:
| (in millions of euros) | Notes | 31/12/2021 | 31/12/2020 |
|---|---|---|---|
| Fair value hedges of loans and liabilities | Fair value hedges of loans and liabilities Notes
|
Fair value hedges of loans and liabilities 31/12/20213,148 |
Fair value hedges of loans and liabilities 31/12/20203,724 |
| Cash flow hedges of loans and liabilities | Cash flow hedges of loans and liabilities Notes
|
Cash flow hedges of loans and liabilities 31/12/2021614 |
Cash flow hedges of loans and liabilities 31/12/2020(1,738) |
| Sub-total | Sub-total Notes 19.2 | Sub-total31/12/20213,762 | Sub-total 31/12/2020 1,986 |
| Fair value hedges of commodity contracts | Fair value hedges of commodity contracts Notes
|
Fair value hedges of commodity contracts 31/12/2021(492) |
Fair value hedges of commodity contracts 31/12/20206 |
| Cash flow hedges of commodity contracts | Cash flow hedges of commodity contracts Notes
|
Cash flow hedges of commodity contracts 31/12/2021(3,564) |
Cash flow hedges of commodity contracts 31/12/2020170 |
| Sub-total | Sub-total Notes
|
Sub-total31/12/2021(4,056) | Sub-total 31/12/2020 176 |
| Net foreign investment hedges | Net foreign investment hedges Notes
|
Net foreign investment hedges 31/12/202194 |
Net foreign investment hedges 31/12/2020280 |
| Fair value hedges of dedicated assets | Fair value hedges of dedicated assets Notes
|
Fair value hedges of dedicated assets 31/12/2021(14) |
Fair value hedges of dedicated assets 31/12/2020205 |
| FAIR VALUE OF HEDGING DERIVATIVES | FAIR VALUE OF HEDGING DERIVATIVES Notes
|
FAIR VALUE OF HEDGING DERIVATIVES31/12/2021(214) | FAIR VALUE OF HEDGING DERIVATIVES 31/12/2020 2,647 |
