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Note 13 | 12 Months Ended
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Dec. 31, 2021
Financial assets at fair value through other comprehensive income [abstract] |
Disclosure of Financial Assets At Fair Value Through Other Comprehensive Income [Text Block] | Financial assets at fair value through other comprehensive incomeBreakdown of the balance The breakdown of the balance by the main financial instruments in the accompanying consolidated balance sheets is as follows:
Financial assets at fair value through other comprehensive income (Millions of Euros) |  |  |  |  |  |
| Notes | 2021 | 2020 | 2019 |  |  |  |  |  |
Equity instruments | 7.2.2 | 1,320 | 1,100 | 2,420 |  |  |  |  |  |
Debt securities (*) |  | 59,074 | 68,308 | 58,731 |  |  |  |  |  |
Loans and advances to credit institutions | 7.2.2 | 27 | 33 | 33 |  |  |  |  |  |
Total | 8.1 | 60,421 | 69,440 | 61,183 |  |  |  |  |  |
Of which: loss allowances of debt securities |  | (74) | (97) | (110) |  |  |  |  |  |
(*) The variation, in the last 3 years, corresponds mainly to changes in the portfolio of financial assets issued by governments in BBVA, S.A. During financial years 2021, 2020 and 2019, there have been no significant reclassifications from the heading “Financial assets at fair value through other comprehensive income” to other headings or from other headings to “Financial assets at fair value through other comprehensive income”. Equity instrumentsThe breakdown of the balance under the heading "Equity instruments" of the accompanying consolidated financial statements as of December 31, 2021, 2020 and 2019 is as follows:
Financial assets at fair value through other comprehensive income. Equity instruments (Millions of Euros)
| 2021 | 2020 | 2019
| Cost | Unrealized gains | Unrealized losses | Fair value | Cost | Unrealized gains | Unrealized losses | Fair value | Cost | Unrealized gains | Unrealized losses | Fair value
Listed equity instruments |  |  |  |  |  |  |  |  |  |  |  |
Spanish companies shares | 2,235 | — | (1,146) | 1,088 | 2,182 | — | (1,309) | 873 | 2,181 | — | (507) | 1,674
Foreign companies shares | 98 | 35 | (8) | 125 | 100 | 38 | (17) | 121 | 136 | 87 | (11) | 213
The United States | 29 | — | — | 29 | 27 | — | — | 27 | 30 | 47 | — | 78
Mexico | 1 | 28 | — | 29 | 1 | 33 | — | 34 | 1 | 33 | — | 34
Turkey | — | 4 | — | 5 | 2 | 4 | — | 6 | 3 | 2 | — | 5
Other countries | 69 | 2 | (8) | 63 | 70 | 1 | (17) | 54 | 102 | 5 | (11) | 96
Subtotal listed equity instruments | 2,333 | 35 | (1,154) | 1,214 | 2,282 | 38 | (1,326) | 995 | 2,317 | 87 | (518) | 1,886
Unlisted equity instruments |  |  |  |  |  |  |  |  |  |  |  |
Spanish companies shares | 5 | 7 | — | 11 | 5 | 1 | — | 5 | 5 | 1 | — | 5
Foreign companies shares | 55 | 41 | (1) | 95 | 58 | 43 | (1) | 100 | 450 | 79 | (1) | 528
The United States | — | — | — | — | — | — | — | — | 387 | 32 | — | 419
Mexico | — | — | — | 1 | — | — | — | 1 | — | — | — | —
Turkey | 3 | — | — | 3 | 5 | — | — | 5 | 5 | 4 | — | 9
Other countries | 51 | 41 | (1) | 91 | 52 | 43 | (1) | 94 | 57 | 43 | (1) | 99
Subtotal unlisted equity instruments | 60 | 48 | (1) | 107 | 62 | 44 | (1) | 105 | 454 | 80 | (1) | 533
Total | 2,393 | 83 | (1,155) | 1,320 | 2,344 | 82 | (1,327) | 1,100 | 2,772 | 167 | (519) | 2,420
Debt securities The breakdown of the balance under the heading “Debt securities” of the accompanying consolidated financial statements as of December 31, 2021, 2020 and 2019, broken down by issuers, is as follows:
Financial assets at fair value through other comprehensive income. Debt securities (Millions of Euros)
|  | 2021 | 2020 | 2019
|  | Amortized cost | Unrealized gains | Unrealized losses | Fair value | Amortized cost | Unrealized gains | Unrealized losses | Fair value | Amortized cost | Unrealized gains | Unrealized losses | Fair value
Domestic debt securities |  |  |  |  |  |  |  |  |  |  |  |  |
Government and other government agency |  | 15,889 | 656 | — | 16,544 | 28,582 | 801 | (16) | 29,367 | 20,740 | 830 | (20) | 21,550
Central banks |  | — | — | — | — | — | — | — | — | — | — | — | —
Credit institutions |  | 1,125 | 51 | — | 1,176 | 1,363 | 76 | — | 1,439 | 959 | 65 | — | 1,024
Other issuers |  | 612 | 24 | (1) | 635 | 867 | 40 | (1) | 906 | 907 | 40 | — | 947
Subtotal |  | 17,625 | 731 | (2) | 18,355 | 30,811 | 917 | (17) | 31,712 | 22,607 | 935 | (21) | 23,521
Foreign debt securities |  |  |  |  |  |  |  |  |  |  |  |  |
Mexico |  | 11,097 | 32 | (359) | 10,769 | 9,107 | 291 | (3) | 9,395 | 7,790 | 22 | (26) | 7,786
Government and other government agency |  | 10,467 | 21 | (348) | 10,141 | 8,309 | 271 | (1) | 8,579 | 6,869 | 18 | (19) | 6,868
Central banks |  | — | — | — | — | — | — | — | — | — | — | — | —
Credit institutions |  | 120 | 3 | (6) | 118 | 113 | 5 | — | 118 | 77 | 2 | — | 78
Other issuers |  | 509 | 7 | (6) | 510 | 685 | 15 | (2) | 698 | 843 | 2 | (6) | 840
Italy |  | 7,407 | 213 | (12) | 7,608 | 3,897 | 367 | — | 4,263 | 2,325 | 244 | (2) | 2,567
Government and other government agency |  | 7,274 | 212 | (12) | 7,474 | 3,789 | 366 | — | 4,154 | 2,193 | 244 | (2) | 2,435
Central banks |  | — | — | — | — | — | — | — | — | — | — | — | —
Credit institutions |  | 47 | — | — | 47 | 48 | — | — | 48 | 52 | — | — | 52
Other issuers |  | 86 | 1 | — | 87 | 60 | 1 | — | 61 | 80 | 1 | — | 81
Japan |  | 4,961 | 7 | — | 4,968 | 4,551 | 1 | (3) | 4,549 | 2,735 | 3 | — | 2,738
Government and other government agency |  | 4,906 | 7 | — | 4,913 | 4,492 | — | (3) | 4,489 | 2,691 | 3 | — | 2,694
Central banks |  | — | — | — | — | — | — | — | — | — | — | — | —
Credit institutions |  | 18 | — | — | 18 | — | — | — | — | — | — | — | —
Other issuers |  | 36 | 1 | — | 37 | 59 | 1 | — | 60 | 43 | — | — | 44
The United States |  | 3,900 | 44 | (18) | 3,926 | 4,642 | 52 | (3) | 4,691 | 11,376 | 68 | (51) | 11,393
Government and other government agency |  | 1,754 | 7 | (17) | 1,744 | 2,307 | 9 | (1) | 2,315 | 8,570 | 42 | (12) | 8,599
Central banks |  | — | — | — | — | — | — | — | — | — | — | — | —
Credit institutions |  | 114 | 2 | — | 116 | 186 | 3 | — | 188 | 122 | 2 | — | 124
Other issuers |  | 2,032 | 35 | (1) | 2,065 | 2,149 | 40 | (2) | 2,187 | 2,684 | 24 | (39) | 2,670
Turkey |  | 2,888 | 199 | (168) | 2,920 | 3,456 | 90 | (73) | 3,473 | 3,752 | 38 | (76) | 3,713
Government and other government agency |  | 2,888 | 199 | (168) | 2,920 | 3,456 | 90 | (73) | 3,473 | 3,752 | 38 | (76) | 3,713
Central banks |  | — | — | — | — | — | — | — | — | — | — | — | —
Credit institutions |  | — | — | — | — | — | — | — | — | — | — | — | —
Other issuers |  | — | — | — | — | — | — | — | — | — | — | — | —
Other countries |  | 10,298 | 286 | (55) | 10,529 | 9,892 | 372 | (39) | 10,225 | 6,810 | 307 | (104) | 7,013
Other foreign governments and government agency |  | 2,488 | 115 | (29) | 2,574 | 2,177 | 136 | (14) | 2,300 | 2,079 | 137 | (76) | 2,140
Central banks |  | 1,698 | 3 | (5) | 1,696 | 1,599 | 21 | (8) | 1,611 | 1,005 | 9 | (4) | 1,010
Credit institutions |  | 2,306 | 92 | (16) | 2,382 | 2,468 | 116 | (8) | 2,576 | 1,743 | 109 | (12) | 1,840
Other issuers |  | 3,807 | 76 | (6) | 3,877 | 3,648 | 99 | (8) | 3,738 | 1,983 | 52 | (12) | 2,023
Subtotal |  | 40,551 | 780 | (612) | 40,719 | 35,545 | 1,172 | (120) | 36,596 | 34,788 | 681 | (259) | 35,210
Total |  | 58,176 | 1,511 | (614) | 59,074 | 66,356 | 2,089 | (137) | 68,308 | 57,395 | 1,617 | (280) | 58,731
The credit ratings of the issuers of debt securities as of December 31, 2021, 2020 and 2019 are as follows:
Debt securities by rating
| 2021 |  | 2020 | 2019
| Fair value (Millions of Euros) | % |  |  | Fair value (Millions of Euros) | % | Fair value (Millions of euros) | %
AAA | 2,413 | 4.1 | % |  |  | 4,345 | 6.4 | % | 3,669 | 6.2 | %
AA+ | 586 | 1.0 | % |  |  | 595 | 0.9 | % | 7,279 | 12.4 | %
AA | 646 | 1.1 | % |  |  | 449 | 0.7 | % | 317 | 0.5 | %
AA- | 327 | 0.6 | % |  |  | 406 | 0.6 | % | 265 | 0.5 | %
A+ | 6,179 | 10.5 | % |  |  | 5,912 | 8.7 | % | 3,367 | 5.7 | %
A | 1,676 | 2.8 | % |  |  | 2,112 | 3.1 | % | 12,895 | 22.0 | %
A- | 18,760 | 31.8 | % |  |  | 31,614 | 46.3 | % | 10,947 | 18.6 | %
BBB+ | 11,465 | 19.4 | % |  |  | 8,629 | 12.6 | % | 9,946 | 16.9 | %
BBB | 10,961 | 18.6 | % |  |  | 4,054 | 5.9 | % | 2,966 | 5.1 | %
BBB- | 1,310 | 2.2 | % |  |  | 5,116 | 7.5 | % | 1,927 | 3.3 | %
BB+ or below | 4,379 | 7.4 | % |  |  | 4,731 | 6.9 | % | 4,712 | 8.0 | %
Unclassified | 372 | 0.6 | % |  |  | 345 | 0.5 | % | 441 | 0.8 | %
Total | 59,074 | 100.0 | % |  |  | 68,308 | 100.0 | % | 58,731 | 100.0 | %
Gains/losses The changes in the gains/losses (net of taxes) in December 31, 2021, 2020 and 2019 of debt securities recognized under the equity heading “Accumulated other comprehensive income (loss) – Items that may be reclassified to profit or loss – Fair value changes of debt instruments measured at fair value through other comprehensive income” and equity instruments recognized under the equity heading “Accumulated other comprehensive income (loss) – Items that will not be reclassified to profit or loss –Fair value changes of equity instruments measured at fair value through other comprehensive income” in the accompanying consolidated balance sheets are as follows:
Other comprehensive income - Changes in gains (losses) (Millions of Euros) |  |
|  |  | Debt securities | Equity instruments
| Notes |  | 2021 | 2020 | 2019 |  |  | 2021 | 2020 | 2019 |  |
Balance at the beginning |  |  | 2,069 | 1,760 | 943 |  |  | (1,256) | (403) | (155) |  |
Valuation gains and losses |  |  | (1,058) | 489 | 1,267 |  |  | 183 | (803) | (238) |  |
Amounts transferred to income |  |  | (63) | (72) | (119) |  |  | — |  |  |  |
Amounts transferred to Reserves |  |  |  |  |  |  |  | — | (73) | — |  |
Income tax and other |  |  | 325 | (107) | (331) |  |  | (7) | 23 | (10) |  |
Balance at the end | 30 |  | 1,274 | 2,069 | 1,760 |  |  | (1,079) | (1,256) | (403) |  |
In 2021, the debt securities presented an impairment amounting to €17 million in the heading “Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss or net gains by modification– Financial assets at fair value through other comprehensive income” in the accompanying consolidated income statement (see Note 47). In 2020, debt securities presented an impairment amounting to €19 million in the heading “Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss or net gains by modification–Financial assets at fair value through other comprehensive income” in the accompanying consolidated income statement (see Note 47) In 2019, debt securities presented an impairment amounting to €82 million in the heading “Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss or net gains by modification–Financial assets at fair value through other comprehensive income” in the accompanying consolidated income statement (see Note 47) as a result of the decrease in the rating of debt securities in Argentina during the last quarter of 2019. In 2021 and 2020, equity instruments presented an increase of €183 million and a decrease of €803 million, respectively, in the heading “Gains and losses from valuation - Accumulated other comprehensive income - Items that will not be reclassified to profit and loss - Fair value changes of equity instruments measured at fair value through other comprehensive income”, mainly due to the Telefónica quotation.

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