BPCE_REGISTRATION_DOCUMENT_2017

4 2017 ACTIVITIES AND FINANCIAL INFORMATION Outlook for Groupe BPCE

Liquidity Total liquidityreserves include:

LCR eligible assets comprising the Group’s LCR reserve taken for ● their LCR valuation; liquid assets placed with central banks (ECB and the Federal ● Reserve), net of US MMF (Money Market Funds) deposits, plus fiat money. Short-termfunding comprisesfundingwith an initial maturityof less than or equal to 1 year, and the short-term maturities of medium-/long-termdebt comprise debt with an initial maturity of more than1 yearmaturingwithin the next 12 months.

central bank-eligibleassets: ECB-eligiblesecurities not eligible for ● the LCR, taken for their ECB valuation(after ECB haircut),securities held (securitization and covered bonds) that are available and ECB-eligible,taken for their ECB valuation (after ECB haircut) and private debt available and eligible for central bank funding (ECB and Federal Reserve), net of central bank funding;

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Registration document 2017