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Note 47 - Related-Party Transactions | 6 Months Ended
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Jun. 30, 2020
Related Party Transactions Abstract |
Disclosure of Related Party Transactions | 47. Related-party transactions As financial institutions, BBVA and other entities in the Group engage in transactions with related parties in the normal course of their business. All of these transactions are not material and are carried out under normal marke t conditions. As of June 30, 2020 and December 31, 2019, the transactions with related parties are the following: 47.1 Transactions with significant shareholders As of June 30, 2020 and December 31, 2019 there were no shareholders considered significant (see Note 25). 47.2 Transactions with BBVA Group entities The balances of the main captions in the accompanying consolidated balance sheets arising from the transactions carried out by the BBVA Group with associates and joint venture entities accounted for using the equity method are as follows:
Balances arising from transactions with entities of the Group (Millions of Euros)
|  | June 2020 | December 2019
Assets |  |  |
Loans and advances to credit institutions |  | 61 | 26
Loans and advances to customers |  | 1,909 | 1,682
Liabilities |  |  |
Loan commitments given |  | 1 | 3
Other contingent commitments given |  | 859 | 453
Memorandum accounts |  |  |
Loan commitments given |  | 156 | 166
Other contingent commitments given |  | 1,397 | 1,042
Financial guarantees given |  | 50 | 106
The balances of the main aggregates in the accompanying consolidated income statements resulting from transactions with associates and joint venture entities that are accounted for unde r the equity method are as follows:
Balances of consolidated income statement arising from transactions with entities of the Group (Millions of Euros)
|  | June 2020 | June 2019
Gains and losses: |  |  |
Interest and other income |  | 9 | 26
Interest expense |  | - | 1
Fee and commission income |  | 3 | 2
Fee and commission expense |  | 19 | 14
There were no other material effects in the consolidated financial statements arising from dealings with these entities, other than the effects from using the equity method (see Note 2.1 to the consolidated Financial Statements of 2019) and from the insurance policies to cover pension or similar commitments (see Note 25 to the consolidated Financial Statements of 2019) and the derivatives transactions arranged by BBVA Group with these entities, a ssociates and joint ventures. In addition, as part of its regular activity, the BBVA Group has entered into agreements and commitments of various types with shareholders of subsidiaries and associates, which have no material effects on the accompanying consolidated financial statements. 47.3 Transactions with members of the Board of Directors and Senior Management The amount and nature of the transactions carried out with members of the Board of Directors and Senior Management of BBVA is given below. These transactions belong to the Bank’s ordinary business or traffic, are of little relevance and have being carried out under normal market conditions. As of June 30, 2020, there were no loans granted by the Group’s entities to the members of the Board of Directors. As of December 31, 20 19, the amount availed against the loans granted by the Group’s entities to the members of the Board of Directors amounted to €607 thousand. As of June 30, 2020 and December 31, 2019, there were no loans granted to parties related to the members of the Boa rd of Directors. As of June 30, 2020 and December 31, 2019 the amount availed against the loans granted by the Group’s entities to the members of Senior Management (excluding the executive directors) amounted to €4,510 and €4,414 thousand, respectively. As of June 30, 2020 there were no loans granted by the Group’s entities to parties related to members of the Senior Management, and, as of December 31, 2019, the amount availed against the loans granted to parties related to members of the Senior Management amounted to €57 thousand. As of June 30, 2020, and December 31, 2019, no guarantees had been granted to any member of the Board of Directors. As of June 30, 2020 and December 31, 2019, the amount availed against guarantees arranged with members of the Seni or Management amounted to €10 thousand, respectively. As of June 30, 2020 and December 31, 2019 the amount availed against commercial loans and guarantees arranged with parties related to the members of the Bank’s Board of Directors and the Senior Manageme nt amounted to €25 thousand, respectively. The information on the remuneration of the members of the BBVA Board of Directors and Senior Management is included in Note 48. 47.4 Transactions with other related parties During the six months ended June 30, 2020 and the year ended December 31, 2019, the Group did not conduct any transactions with other related parties that are not in the ordinary course of its business, which were not carried out at arm's-length market conditions and of marginal relevance; whose information is not necessary to give a true picture of the BBVA Group’s consolidated net equity, net earnings and financial situation.

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