BPCE_REGISTRATION_DOCUMENT_2017

5 FINANCIAL REPORT

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

12/31/2017

12/31/2016

Positive fair value

Negative fair value

Positive fair value

Negative fair value

Notional amount

Notional

in millions of euros

Interestrate derivatives Currency derivatives

3,983,145 1,074,020

32,171 14,219

31,827 13,230

4,079,684 1,144,984

29,912 19,325

26,060 18,478

Equity derivatives Credit derivatives Other contracts

219,197 36,937 84,814

3,569

4,848

175,616

6,504

8,054

589 646

782 363

57,822 94,381

856

842 838

1,002

TOTALTRADING DERIVATIVES

5,398,113

51,194

51,050

5,552,487

57,599

54,272

o/w organized markets

774,282

1,088

1,895

922,654

3,193

3,623

o/w over-the-counter transactions

4,623,831 1,492,731 2,852,260

50,106 34,595 10,008

49,155 32,223 11,557

4,629,833 1,881,477 2,485,229

54,406 37,106

50,649 33,449 10,226

o/w credit institutions

o/w otherfinancial companies

9,279

HEDGING DERIVATIVES 5.3 Derivativesmay only be designatedas hedgesif they meet the criteria set out in IAS 39 at inceptionand throughoutthe term of the hedge. These criteria include formal documentationthat the hedgingrelation between the derivatives and the hedged items is both prospectively and retrospectively effective. Fair value hedges mainly consist of interest rate swaps that protect fixed-rate financial instruments against changes in fair value attributable to changes in market rates of interest. They transform fixed-rate assets or liabilities into floating-rate instruments and

include mostly hedges of fixed-rate loans, securities, deposits and subordinated debt. Fair value hedging is also used to manage their overall interest rate risk position. The cash flow hedges fix or control the variability of cash flows arising from floating-rateinstruments.Cash flow hedgingis also used to managethe overall interestrate risk position. The notional amounts of derivative instruments are merely an indication of the volume of the Group’s business in financial instruments,and do not reflect the market risks associatedwith such instruments.

12/31/2017

12/31/2016

Notional amount 19,394

Positive fair value

Negative fair value

Positive fair value

Negative fair value

Notional 20,788

in millions of euros

Interestrate derivatives Currency derivatives Equity derivatives Cash flowhedges Interestrate derivatives Currency derivatives Credit derivatives Fair valuehedges

43

309 536

71

547 541

1,703

317

2,696

857

198

226

1

21,295 554,118 11,505

360

845

23,710

928

1,089

7,477

6,994 2,161

753,948

10,400

9,370 3,336

769

16,062

1,877

128

565,751 587,046

8,246 8,606

9,155

770,010 793,720

12,277 13,205

12,706 13,795

TOTALHEDGINGINSTRUMENTS

10,000

398

Registration document 2017