BPCE_REGISTRATION_DOCUMENT_2017

5 FINANCIAL REPORT

IFRS Consolidated Financial Statements of Groupe BPCE as at December 31, 2017

5.19.3 Provisions on regulated home savings products

12/31/2017

12/31/2016

in millions of euros

Provisionsfor PELregulated home savings plans less than 4years - more than 4 years and less than 10 years - Provisionsfor PELregulated home savings plans Provisionsfor CELregulated homesavingsaccounts Provisions for PELregulated homesavings loans Provisions for CEL regulated home savings loans Provisionsfor regulatedhome savings loans more than 10 years -

147 308 192 647

405

99

169 673

52 (1) (3) (4)

45 (1) (4) (5)

TOTALPROVISIONS FOR REGULATED HOME SAVINGS PRODUCTS

695

713

The change inthe provisionson regulated home savingsproducts reflects the maturation of the PEL strata(see Note

5.19.1).

SUBORDINATED DEBT 5.20 Subordinateddebt differs from other debt and bonds in that it will be repaid only after all the senior and unsecured creditors, but before the repayment of participating loans and securities and deeply subordinated notes.

12/31/2017

12/31/2016

in millionsof euros

Termsubordinated debt Perpetualsubordinated debt Mutualguarantee deposits Subordinated debtand similar

16,115

18,620

321 157

321 166

16,593

19,107

Accrued interest

328 489

356 658

Revaluation ofthe hedged component TOTALSUBORDINATEDDEBT

17,410

20,121

The fair valueof subordinateddebt is presented inNote 15.

Changes in subordinated debt and similar during the year

12/31/2017

01/01/2017

Issuance (1)

Redemption (2)

Other changes (3)

in millions of euros

Termsubordinated debt Perpetualsubordinated debt Mutualguarantee deposits

18,620

(1,654)

(851)

16,115

321 166

321 157

12 12

(21)

SUBORDINATEDDEBT AND SIMILAR

19,107

(1,675)

(851)

16,593

No new issuancewas made in the 2017 fiscalyear. (1) Redemptionsof subordinatedborrowingsand securitiesspecificallyinvolved: (2)

the maturingof subordinatedsecurities issuedby BPCE in the amountof €1,150 million,in 2017; ● the maturingof subordinatedsecurities issuedby Natixis in the amountof €500 million,in 2017. ● Otherchangesmainly includedthe revaluationof debtssubjectto hedging,foreignexchangefluctuationsand variationsin intra-groupsecuritiesheld by NatixisFundingfor the purposesof (3) market-makingwith respectto Natixis’debt on the secondarymarket.

Deeply subordinatednotes qualifying as equity instruments are presented in Note

5.22.2.

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Registration document 2017