BPCE_REGISTRATION_DOCUMENT_2017

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

GUARANTEED UCITS 17.3 GuaranteedUCITS are funds designed to reach a specific amount at the end of a given period, determined by applying a predefined calculation formula based on financial market indicators and, where appropriate, to distribute revenues derived from the investments as determined using the same methods. The portfolio management targets of these funds are guaranteed by a credit institution. Based on an analysis of the substance of these funds in accordance with IFRS 10, the Group does not control relevant activities (as management flexibility is limited) and is not exposed to variable returns (as a solid risk monitoringsystemhas been implemented)and therefore does not consolidate these structures.

SCOPE OF CONSOLIDATION 17.5 AT DECEMBER 31, 2017

Only those entitiesprovidinga materialcontributionare consolidated. For entitiesmeetingthe definitionof financialsector entities given in regulation (EU) 575/2013 of the European Parliament and of the Council of June 26, 2013 (the CRR), the accounting consolidation thresholds have been aligned, from December 31, 2017, with those applied for the prudential scope of consolidation. Article 19 of the CRR sets a threshold of € 10 million in total balance sheet and off-balancesheet assets. For non-financialsector entities, materiality is assessed at the level of the consolidated entities. Based on the principle of ascending materiality, any entity included at a sub-consolidationlevel is included at all higher consolidationlevels, even if it is not material at those levels. The percentage interest is specified for each entity in the scope of consolidation.The percentageof interestdescribesthe share of equity held by the Group, either directly or indirectly, in companies within the scope. The percentage of interest can be used to determine the share attributableto equity holders of the parent in the net assets of the companyheld.

OTHER INTERESTS IN CONSOLIDATED 17.4

SUBSIDIARIES AND STRUCTURED ENTITIES

Major restrictions The Group has not been faced with any major restrictionsrelating to stakes held inits structuredor non-structured subsidiaries. Support of consolidated structured entities The Group did not grant any financial support to consolidated structured entities.

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Registration document 2017