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Note 7 (Tables) | 12 Months Ended
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Dec. 31, 2021
Risk Management [Abstract] |
Amount of payment deferral and financing with public guarantees of the Group [Table Text Block] | The outstanding balance of existing loans for which a payment deferral was granted (split by those existing at year-end and those that were completed by year-end) under EBA standards and for which financing was granted with public guarantees given at a Group level, as well as the number of customers of both measures, as of December 31, 2021 and 2020 are as follows:
Amount of payment deferral and financing with public guarantees of the Group (Millions of Euros)
| Payment deferral | Financing with public guarantees |  |
| Existing | Completed | Total | Number of customers | Total | Number of customers | Total payment deferral and guarantees | (%) credit investment
December 2021 | 189 | 21,743 | 21,931 | 2,188,720 | 16,093 | 264,809 | 38,025 | 10.9 | %
December 2020 (*) | 6,536 | 21,868 | 28,405 | 2,779,964 | 16,053 | 249,458 | 44,458 | 12.9 | %
(*) Figures as of December 2020 do not include the companies sold in the United States in 2021.
Amount of payment deferral and financing with public guarantees by concept [Table Text Block] | The outstanding balance of existing loans for which a payment deferral was granted (split by those existing at year-end and those that were completed by year-end) under EBA standards and for which financing was granted with public guarantees given at a Group level, broken down by segment, as of December 31, 2021 and 2020 are as follows:
Amount of payment deferral and financing with public guarantees by concept (Millions of Euros)
| Payment deferral | Financing with public guarantees
| Existing | Completed | Total
| 2021 |  | 2020 (*) | 2021 |  | 2020 (*) | 2021 |  | 2020 (*) | 2021 |  | 2020 (*)
Group | 189 |  | 6,536 | 21,743 |  | 21,868 | 21,931 |  | 28,405 | 16,093 |  | 16,053
Households | 107 |  | 4,503 | 14,904 |  | 14,550 | 15,011 |  | 19,052 | 1,376 |  | 1,235
Of which: Mortgages | 97 |  | 3,587 | 10,195 |  | 7,471 | 10,291 |  | 11,059 | 6 |  | 1
SMEs | 44 |  | 1,023 | 3,950 |  | 4,743 | 3,994 |  | 5,766 | 10,911 |  | 10,573
Non-financial corporations | 37 |  | 961 | 2,766 |  | 2,397 | 2,803 |  | 3,358 | 3,788 |  | 4,232
Other | — |  | 50 | 122 |  | 179 | 122 |  | 229 | 18 |  | 13
(*) Figures as of December 2020 do not include the companies sold in the United States in 2021.
Amount of payment deferral by stages [Table Text Block] |
Amount of payment deferral by stages (Millions of Euros)
| Stage 1 | Stage 2 | Stage 3 | Total
| 2021 |  | 2020 (*) | 2021 |  | 2020 (*) | 2021 |  | 2020 (*) | 2021 |  | 2020 (*)
Group | 13,236 |  | 18,602 | 6,252 |  | 7,736 | 2,444 |  | 2,066 | 21,931 |  | 28,405
Households | 9,167 |  | 12,336 | 3,707 |  | 4,997 | 2,137 |  | 1,719 | 15,011 |  | 19,052
Of which: Mortgages | 6,360 |  | 7,347 | 2,444 |  | 2,844 | 1,487 |  | 867 | 10,291 |  | 11,059
SMEs | 2,609 |  | 4,147 | 1,131 |  | 1,327 | 254 |  | 292 | 3,994 |  | 5,766
Non-financial corporations | 1,364 |  | 1,903 | 1,387 |  | 1,399 | 53 |  | 56 | 2,803 |  | 3,358
Other | 95 |  | 216 | 27 |  | 13 | — |  | — | 122 |  | 229
(*) Figures as of December 2020 do not include the companies sold in the United States in 2021.
Positive scenario of GDP, unemployment rate and HPI for the main geographies [Table Text Block] | BBVA Research forecasts a maximum of five years for the macroeconomic variables. The following estimates for the next five years of the Gross Domestic Product (GDP) growth, of the unemployment rate and of the House Price Index (HPI), for the most relevant countries where it represents a significant factor, are determined by BBVA Research and have been used at the time of the calculation of the ECL as of December 31, 2021:
Positive scenario of GDP, unemployment rate and HPI for the main geographies
| Spain | Mexico | Turkey |  |  |
Date | GDP | Unemployment | HPI | GDP | Unemployment | HPI | GDP | Unemployment |  |  |  |  |  |
2021 | 5.52 % | 14.42 % | 0.33 % | 6.39 % | 4.18 % | 2.35 % | 11.63 % | 11.90 % |  |  |  |  |  |
2022 | 6.14 % | 12.50 % | 4.70 % | 4.07 % | 3.89 % | 5.38 % | 5.60 % | 11.35 % |  |  |  |  |  |
2023 | 5.13 % | 10.05 % | 3.06 % | 2.81 % | 3.75 % | 3.85 % | 5.80 % | 11.93 % |  |  |  |  |  |
2024 | 2.61 % | 8.48 % | 1.87 % | 2.17 % | 3.69 % | 3.07 % | 3.62 % | 12.66 % |  |  |  |  |  |
2025 | 2.22 % | 7.49 % | 1.56 % | 1.88 % | 3.64 % | 4.08 % | 3.66 % | 12.94 % |  |  |  |  |  |
2026 | 2.19 % | 6.71 % | 1.19 % | 1.83 % | 3.59 % | 3.95 % | 3.66 % | 13.05 % |  |  |  |  |  |
|  |  |  | Peru | Argentina | Colombia
Date |  |  |  |  |  |  |  |  | GDP | Unemployment | GDP | Unemployment | GDP | Unemployment
2021 |  |  |  |  |  |  |  |  | 13.60 % | 11.33 % | 9.91 % | 15.12 % | 9.89 % | 15.36 %
2022 |  |  |  |  |  |  |  |  | 4.91 % | 7.50 % | 6.69 % | 11.34 % | 5.33 % | 13.60 %
2023 |  |  |  |  |  |  |  |  | 3.78 % | 6.82 % | 3.02 % | 9.48 % | 3.38 % | 13.22 %
2024 |  |  |  |  |  |  |  |  | 2.76 % | 6.55 % | 2.09 % | 7.99 % | 3.30 % | 12.31 %
2025 |  |  |  |  |  |  |  |  | 2.34 % | 6.52 % | 2.16 % | 6.89 % | 3.44 % | 11.58 %
2026 |  |  |  |  |  |  |  |  | 2.28 % | 6.47 % | 2.12 % | 6.88 % | 3.51 % | 11.32 %
The estimate for the next five years of the following rates, used in the measurement of the expected loss as of December 31, 2020, consistent with the latest estimates made public at that date, was:
Positive scenario of GDP, unemployment rate and HPI for the main geographies
| Spain | Mexico | Turkey
Date | GDP | Unemployment | HPI | GDP | Unemployment | HPI | GDP | Unemployment
2020 | (11.20)% | 16.44% | (1.44)% | (8.85)% | 4.57% | 1.71% | 2.07% | 13.45%
2021 | 6.63% | 16.03% | (3.28)% | 4.58% | 5.40% | (1.23)% | 9.08% | 12.60%
2022 | 6.27% | 12.72% | 4.56% | 3.80% | 5.17% | 0.32% | 5.30% | 11.58%
2023 | 2.95% | 10.82% | 5.79% | 1.62% | 5.04% | 0.31% | 4.13% | 11.58%
2024 | 2.07% | 9.58% | 3.66% | 1.47% | 4.91% | 1.01% | 4.11% | 11.19%
2025 | 2.01% | 8.55% | 3.57% | 1.47% | 4.76% | 1.72% | 4.10% | 10.85%
| Peru | Argentina | Colombia
Date | GDP | Unemployment | GDP | Unemployment | GDP | Unemployment
2020 | (11.74) % | 12.75 % | (10.64) % | 13.60 % | (6.80) % | 18.14 %
2021 | 12.56 % | 10.29 % | 9.95 % | 14.39 % | 6.80 % | 16.14 %
2022 | 5.25 % | 10.00 % | 3.52 % | 11.88 % | 3.70 % | 14.53 %
2023 | 3.68 % | 8.73 % | 2.08 % | 8.99 % | 3.15 % | 14.28 %
2024 | 3.58 % | 7.23 % | 2.11 % | 7.69 % | 3.27 % | 12.49 %
2025 | 3.35 % | 6.88 % | 2.14 % | 6.78 % | 3.60 % | 12.28 %
Base scenario of GDP, unemployment rate and HPI for the main geographies [Table Text Block] |
Base scenario of GDP, unemployment rate and HPI for the main geographies
| Spain | Mexico | Turkey
Date | GDP | Unemployment | HPI | GDP | Unemployment | HPI | GDP | Unemployment
2021 | 5.23 % | 14.93 % | (0.20) % | 5.98 % | 4.22 % | 2.46 % | 9.46 % | 12.43 %
2022 | 5.49 % | 13.98 % | 2.91 % | 3.19 % | 4.05 % | 5.30 % | 1.98 % | 12.80 %
2023 | 4.89 % | 11.68 % | 2.04 % | 2.54 % | 3.92 % | 3.68 % | 5.04 % | 12.93 %
2024 | 2.59 % | 10.08 % | 1.50 % | 2.09 % | 3.83 % | 3.07 % | 3.49 % | 13.03 %
2025 | 2.22 % | 9.05 % | 1.10 % | 1.87 % | 3.77 % | 4.08 % | 3.54 % | 13.13 %
2026 | 2.19 % | 8.15 % | 0.74 % | 1.82 % | 3.71 % | 3.93 % | 3.53 % | 13.23 %
| Peru | Argentina | Colombia
Date | GDP | Unemployment | GDP | Unemployment | GDP | Unemployment
2021 | 12.22 % | 11.38 % | 7.49 % | 15.50 % | 9.17 % | 15.44 %
2022 | 2.32 % | 7.70 % | 2.30 % | 12.35 % | 4.02 % | 13.86 %
2023 | 3.05 % | 7.06 % | 2.04 % | 10.40 % | 3.13 % | 13.51 %
2024 | 2.76 % | 6.76 % | 1.98 % | 8.60 % | 3.29 % | 12.60 %
2025 | 2.34 % | 6.70 % | 2.03 % | 7.38 % | 3.44 % | 11.87 %
2026 | 2.28 % | 6.64 % | 1.99 % | 7.38 % | 3.51 % | 11.53 %
Base scenario of GDP, unemployment rate and HPI for the main geographies
| Spain | Mexico | Turkey
Date | GDP | Unemployment | HPI | GDP | Unemployment | HPI | GDP | Unemployment
2020 | (11.48) | % | 16.95 | % | (1.98) | % | (9.25) | % | 4.62 | % | 1.81 | % | (0.01) | % | 13.98 | %
2021 | 5.99 | % | 17.51 | % | (5.08) | % | 3.71 | % | 5.57 | % | (1.32) | % | 5.52 | % | 14.05 | %
2022 | 6.04 | % | 14.35 | % | 3.48 | % | 3.53 | % | 5.35 | % | 0.15 | % | 4.53 | % | 12.58 | %
2023 | 2.93 | % | 12.41 | % | 5.44 | % | 1.55 | % | 5.19 | % | 0.31 | % | 4.01 | % | 11.95 | %
2024 | 2.07 | % | 11.14 | % | 3.20 | % | 1.45 | % | 5.03 | % | 1.02 | % | 3.99 | % | 11.38 | %
2025 | 2.01 | % | 9.99 | % | 3.12 | % | 1.46 | % | 4.88 | % | 1.71 | % | 3.98 | % | 11.03 | %
| Peru | Argentina | Colombia
Date | GDP | Unemployment | GDP | Unemployment | GDP | Unemployment
2020 | (13.04) % | 12.80 % | (13.00) % | 13.98 % | (7.51) % | 18.23 %
2021 | 10.05 % | 10.48 % | 5.54 % | 15.40 % | 5.48 % | 16.40 %
2022 | 4.52 % | 10.23 % | 2.54 % | 12.80 % | 3.46 % | 14.83 %
2023 | 3.69 % | 8.93 % | 1.98 % | 9.60 % | 3.15 % | 14.57 %
2024 | 3.58 % | 7.41 % | 1.98 % | 8.18 % | 3.27 % | 12.78 %
2025 | 3.35 % | 7.06 % | 2.01 % | 7.28 % | 3.60 % | 12.55 %
Negative scenario of GDP, unemployment rate and HPI for the main geographies [Table Text Block] |
Negative scenario of GDP, unemployment rate and HPI for the main geographies
| Spain | Mexico | Turkey |  |  |
Date | GDP | Unemployment | HPI | GDP | Unemployment | HPI | GDP | Unemployment |  |  |  |  |  |
2021 | 4.95 % | 15.41 % | (0.82) % | 5.58 % | 4.27 % | 2.54 % | 7.29 % | 12.94 % |  |  |  |  |  |
2022 | 4.88 % | 15.41 % | 1.31 % | 2.33 % | 4.23 % | 5.13 % | (1.87) % | 14.26 % |  |  |  |  |  |
2023 | 4.68 % | 13.25 % | 1.09 % | 2.26 % | 4.10 % | 3.48 % | 4.09 % | 13.99 % |  |  |  |  |  |
2024 | 2.54 % | 11.65 % | 0.99 % | 2.03 % | 3.99 % | 2.92 % | 3.40 % | 13.41 % |  |  |  |  |  |
2025 | 2.18 % | 10.62 % | 0.35 % | 1.82 % | 3.90 % | 4.05 % | 3.47 % | 13.31 % |  |  |  |  |  |
2026 | 2.15 % | 9.61 % | (0.01) % | 1.78 % | 3.84 % | 3.93 % | 3.46 % | 13.40 % |  |  |  |  |  |
|  |  |  | Peru | Argentina | Colombia
Date |  |  |  |  |  |  |  |  | GDP | Unemployment | GDP | Unemployment | GDP | Unemployment
2021 |  |  |  |  |  |  |  |  | 10.84 % | 11.43 % | 5.14 % | 15.86 % | 8.43 % | 15.52 %
2022 |  |  |  |  |  |  |  |  | (0.28) % | 7.90 % | (2.34) % | 13.33 % | 2.72 % | 14.12 %
2023 |  |  |  |  |  |  |  |  | 2.31 % | 7.30 % | 0.85 % | 11.29 % | 2.83 % | 13.79 %
2024 |  |  |  |  |  |  |  |  | 2.76 % | 6.98 % | 1.86 % | 9.19 % | 3.29 % | 12.87 %
2025 |  |  |  |  |  |  |  |  | 2.34 % | 6.91 % | 1.88 % | 7.83 % | 3.43 % | 12.13 %
2026 |  |  |  |  |  |  |  |  | 2.28 % | 6.85 % | 1.83 % | 7.85 % | 3.51 % | 11.71 %
Negative scenario of GDP, unemployment rate and HPI for the main geographies
| Spain | Mexico | Turkey
Date | GDP | Unemployment | HPI | GDP | Unemployment | HPI | GDP | Unemployment
2020 | (11.76) % | 17.44 % | (2.60) % | (9.64) % | 4.67 % | 1.89 % | (2.10) % | 14.49 %
2021 | 5.37 % | 18.94 % | (6.69) % | 2.84 % | 5.75 % | (1.48) % | 1.75 % | 15.51 %
2022 | 5.82 % | 15.92 % | 2.49 % | 3.25 % | 5.53 % | (0.06) % | 3.56 % | 13.64 %
2023 | 2.88 % | 13.99 % | 4.94 % | 1.48 % | 5.34 % | 0.17 % | 3.92 % | 12.33 %
2024 | 2.03 % | 12.70 % | 2.45 % | 1.41 % | 5.17 % | 0.99 % | 3.91 % | 11.56 %
2025 | 1.97 % | 11.45 % | 2.36 % | 1.41 % | 5.02 % | 1.70 % | 3.91 % | 11.20 %
| Peru | Argentina | Colombia
Date | GDP | Unemployment | GDP | Unemployment | GDP | Unemployment
2020 | (14.33) % | 12.85 % | (15.28) % | 14.34 % | (8.25) % | 18.31 %
2021 | 7.53 % | 10.69 % | 0.89 % | 16.38 % | 4.16 % | 16.66 %
2022 | 3.78 % | 10.48 % | 1.33 % | 13.69 % | 3.16 % | 15.10 %
2023 | 3.69 % | 9.15 % | 1.86 % | 10.19 % | 3.15 % | 14.84 %
2024 | 3.57 % | 7.62 % | 1.83 % | 8.63 % | 3.27 % | 13.04 %
2025 | 3.35 % | 7.27 % | 1.86 % | 7.75 % | 3.60 % | 12.80 %
Expected loss variation as of december [Table Text Block] | Variation in expected loss is determined both by re-staging (that is: in worse scenarios due to the recognition of lifetime credit losses for additional operations that are transferred to stage 2 from stage 1 where 12 months of losses are valued: or vice versa in improvement scenarios) as well as variations in the collective risk parameters (PD and LGD) of each financial instrument due to the changes defined in the macroeconomic forecasts of the scenario.
Expected loss variation as of December 31, 2021
| BBVA Group | Spain | Mexico |  | Turkey |
GDP | Total Portfolio | Retail | Mortgages | Wholesaler | Fixed income | Total Portfolio | Mortgages | Companies | Total Portfolio | Mortgages | Cards | Total Portfolio | Wholesale | Retail
-100pb | 3.44% | 3.18% | 3.43% | 4.87% | 1.87% | 3.33% | 4.03% | 4.16% | 3.73% | 2.06% | 6.57% | 2.39% | 2.03% | 2.67%
+100pb | (3.20)% | (2.96)% | (2.92)% | (4.54)% | (1.82)% | (3.06)% | (3.35)% | (3.97)% | (3.56)% | (1.96)% | (6.07)% | (2.29)% | (2.08)% | (2.47)%
Housing price |  |  |  |  |  |  |  |  |  |  |  |  |  |
-100pb |  |  |  |  |  |  | 5.17% | 0.78% |  | 2.90% |  |  |  |
+100pb |  |  |  |  |  |  | (5.11)% | (0.77)% |  | (2.73)% |  |  |  |
Expected loss variation as of December 31, 2020
| BBVA Group | Spain | Mexico | Turkey
GDP | Total Portfolio | Retail | Mortgages | Wholesaler | Fixed income | Total Portfolio | Mortgages | Companies | Total Portfolio | Mortgages | Cards | Total Portfolio | Wholesale | Retail
-100pb | 3.55% | 3.47% | 3.72% | 3.91% | 1.58% | 3.72% | 4.39% | 3.96% | 3.91% | 2.20% | 6.30% | 1.56% | 1.58% | 1.62%
+100pb | (3.25)% | (3.14)% | (3.03)% | (3.69)% | (1.97)% | (3.32)% | (3.57)% | (3.53)% | (3.64)% | (2.07)% | (5.78)% | (1.47)% | (1.55)% | (1.47)%
Housing price |  |  |  |  |  |  |  |  |  |  |  |  |  |
-100pb |  |  |  |  |  |  | 5.41% | 0.79% |  | 3.13% |  |  |  |
+100pb |  |  |  |  |  |  | (5.35)% | (0.77)% |  | (4.47)% |  |  |  |
Maximum credit risk exposure [Table Text Block] | In accordance with IFRS 7 “Financial instruments: Disclosures”, the BBVA Group’s credit risk exposure by headings in the balance sheets as of December 31, 2021, 2020 and 2019 is provided below. It does not consider the loss allowances and the availability of collateral or other credit enhancements to enable compliance with payment obligations. The details are broken down by financial instruments and counterparties:
Maximum credit risk exposure (Millions of Euros)
| Notes | December 2021 | Stage 1 | Stage 2 | Stage 3
Financial assets held for trading |  | 92,560 |  |  |
Equity instruments | 10 | 15,963 |  |  |
Debt securities | 10 | 25,790 |  |  |
Loans and advances | 10 | 50,807 |  |  |
Non-trading financial assets mandatorily at fair value through profit or loss |  | 6,086 |  |  |
Equity instruments | 11 | 5,303 |  |  |
Debt securities | 11 | 128 |  |  |
Loans and advances | 11 | 655 |  |  |
Financial assets designated at fair value through profit or loss | 12 | 1,092 |  |  |
Derivatives (trading and hedging) |  | 43,687 |  |  |
Financial assets at fair value through other comprehensive income |  | 60,495 |  |  |
Equity instruments | 13 | 1,320 |  |  |
Debt securities |  | 59,148 | 58,587 | 561 | —
Loans and advances to credit institutions | 13 | 27 | 27 | — | —
Financial assets at amortized cost |  | 383,870 | 334,772 | 34,418 | 14,680
Debt securities |  | 34,833 | 34,605 | 205 | 22
Loans and advances to central banks |  | 5,687 | 5,687 | — | —
Loans and advances to credit institutions |  | 13,295 | 13,285 | 10 | —
Loans and advances to customers |  | 330,055 | 281,195 | 34,203 | 14,657
Total financial assets risk |  | 587,789 |  |  |
Total loan commitments and financial guarantees |  | 165,941 | 152,914 | 12,070 | 957
Loan commitments given | 33 | 119,618 | 112,494 | 6,953 | 171
Financial guarantees given | 33 | 11,720 | 10,146 | 1,329 | 245
Other commitments given | 33 | 34,604 | 30,274 | 3,789 | 541
Total maximum credit exposure |  | 753,730 |  |  |
Maximum credit risk exposure (Millions of Euros)
| Notes | December 2020 | Stage 1 | Stage 2 | Stage 3
Financial assets held for trading |  | 65,696 |  |  |
Equity instruments | 10 | 11,458 |  |  |
Debt securities | 10 | 23,970 |  |  |
Loans and advances | 10 | 30,268 |  |  |
Non-trading financial assets mandatorily at fair value through profit or loss |  | 5,198 |  |  |
Equity instruments | 11 | 4,133 |  |  |
Debt securities | 11 | 356 |  |  |
Loans and advances | 11 | 709 |  |  |
Financial assets designated at fair value through profit or loss | 12 | 1,117 |  |  |
Derivatives (trading and hedging) |  | 46,302 |  |  |
Financial assets at fair value through other comprehensive income |  | 69,537 |  |  |
Equity instruments | 13 | 1,100 |  |  |
Debt securities |  | 68,404 | 67,995 | 410 | —
Loans and advances to credit institutions | 13 | 33 | 33 | — | —
Financial assets at amortized cost |  | 379,857 | 334,552 | 30,607 | 14,698
Debt securities |  | 35,785 | 35,759 | 6 | 20
Loans and advances to central banks |  | 6,229 | 6,229 | — | —
Loans and advances to credit institutions |  | 14,591 | 14,565 | 20 | 6
Loans and advances to customers |  | 323,252 | 277,998 | 30,581 | 14,672
Total financial assets risk |  | 567,705 |  |  |
Total loan commitments and financial guarantees |  | 179,440 | 165,726 | 12,682 | 1,032
Loan commitments given | 33 | 132,584 | 124,104 | 8,214 | 265
Financial guarantees given | 33 | 10,665 | 9,208 | 1,168 | 290
Other commitments given | 33 | 36,190 | 32,414 | 3,300 | 477
Total maximum credit exposure |  | 747,145 |  |  |
Maximum credit risk exposure (Millions of Euros)
| Notes | December 2019 | Stage 1 | Stage 2 | Stage 3
Financial assets held for trading |  | 67,238 |  |  |
Equity instruments | 10 | 8,892 |  |  |
Debt securities | 10 | 26,309 |  |  |
Loans and advances | 10 | 32,037 |  |  |
Non-trading financial assets mandatorily at fair value through profit or loss |  | 5,557 |  |  |
Equity instruments | 11 | 4,327 |  |  |
Debt securities | 11 | 110 |  |  |
Loans and advances | 11 | 1,120 |  |  |
Financial assets designated at fair value through profit or loss | 12 | 1,214 |  |  |
Derivatives (trading and hedging) |  | 39,462 |  |  |
Financial assets at fair value through other comprehensive income |  | 61,293 |  |  |
Equity instruments | 13 | 2,420 |  |  |
Debt securities |  | 58,841 | 58,590 | 250 | —
Loans and advances to credit institutions | 13 | 33 | 33 | — | —
Financial assets at amortized cost |  | 451,640 | 402,024 | 33,624 | 15,993
Debt securities |  | 38,930 | 38,790 | 106 | 33
Loans and advances to central banks |  | 4,285 | 4,285 | — | —
Loans and advances to credit institutions |  | 13,664 | 13,500 | 158 | 6
Loans and advances to customers |  | 394,763 | 345,449 | 33,360 | 15,954
Total financial assets risk |  | 626,404 |  |  |
Total loan commitments and financial guarantees |  | 181,116 | 169,663 | 10,452 | 1,001
Loan commitments given | 33 | 130,923 | 123,707 | 6,945 | 270
Financial guarantees given | 33 | 10,984 | 9,804 | 955 | 224
Other commitments given | 33 | 39,209 | 36,151 | 2,552 | 506
Total maximum credit exposure |  | 807,520 |  |  |
Maximum Credit Risk Exposure, accumulated allowances and carrying amount by geographical location [Table Text Block] | The breakdown by geographical location and Stage of the maximum credit risk exposure, the accumulated allowances recorded and the carrying amount of the loans and advances to customers as of December 31, 2021, 2020 and 2019 is shown below:
December 2021 (Millions of Euros)
| Gross exposure | Accumulated allowances | Carrying amount
| Total | Stage 1 | Stage 2 | Stage 3 | Total | Stage 1 | Stage 2 | Stage 3 | Total | Stage 1 | Stage 2 | Stage 3
Spain (*) | 201,405 | 171,883 | 21,380 | 8,143 | (5,277) | (722) | (923) | (3,631) | 196,129 | 171,161 | 20,457 | 4,511
Mexico | 57,847 | 51,665 | 4,261 | 1,921 | (2,038) | (740) | (381) | (916) | 55,809 | 50,925 | 3,880 | 1,005
Turkey (**) | 33,472 | 26,497 | 4,134 | 2,841 | (2,058) | (224) | (424) | (1,410) | 31,414 | 26,273 | 3,711 | 1,431
South America (***) | 36,335 | 30,166 | 4,425 | 1,744 | (1,736) | (277) | (362) | (1,096) | 34,599 | 29,889 | 4,062 | 648
Others | 996 | 984 | 3 | 9 | (8) | (1) | — | (7) | 988 | 983 | 3 | 2
Total (****) | 330,055 | 281,195 | 34,203 | 14,657 | (11,116) | (1,964) | (2,091) | (7,061) | 318,939 | 279,231 | 32,112 | 7,596
Of which: individual |  |  |  |  | (2,528) | (4) | (657) | (1,867) |  |  |  |
Of which: collective |  |  |  |  | (8,587) | (1,959) | (1,434) | (5,194) |  |  |  |
(*) Spain includes all countries where BBVA, S.A. operates. (**) Turkey includes all countries in which Garanti BBVA operates. (***) In South America, BBVA Group operates mainly in Argentina, Colombia, Peru and Uruguay. (****) The amount of the accumulated allowances includes the provisions recorded for credit risk over the remaining expected lifetime of purchased financial instruments. Those provisions were determined at the moment of the Purchase Price Allocation and were originated mainly in the acquisition of Catalunya Banc S.A. (as of December 31, 2021, the remaining balance was €266 million). These valuation adjustments are recognized in the consolidated income statement during the residual life of the operations or are applied to the value corrections when the losses materialize.
December 2020 (Millions of Euros)
|  | Gross exposure |  | Accumulated allowances |  | Carrying amount
| Total | Stage 1 | Stage 2 | Stage 3 | Total | Stage 1 | Stage 2 | Stage 3 | Total | Stage 1 | Stage 2 | Stage 3
Spain (*) | 195,983 | 171,397 | 16,387 | 8,199 | (5,679) | (753) | (849) | (4,077) | 190,304 | 170,644 | 15,538 | 4,122
Mexico | 52,211 | 46,373 | 4,071 | 1,767 | (2,211) | (685) | (442) | (1,083) | 50,000 | 45,688 | 3,628 | 684
Turkey (**) | 39,633 | 30,832 | 5,806 | 2,995 | (2,338) | (246) | (535) | (1,557) | 37,295 | 30,586 | 5,272 | 1,438
South America (***) | 34,499 | 28,484 | 4,312 | 1,703 | (1,870) | (320) | (460) | (1,090) | 32,629 | 28,165 | 3,852 | 612
Others | 925 | 912 | 5 | 8 | (7) | (1) | — | (6) | 918 | 911 | 4 | 2
Total (****) | 323,252 | 277,998 | 30,581 | 14,672 | (12,105) | (2,005) | (2,287) | (7,813) | 311,147 | 275,993 | 28,294 | 6,860
Of which: individual |  |  |  |  | (2,611) | (10) | (479) | (2,122) |  |  |  |
Of which: collective |  |  |  |  | (9,494) | (1,995) | (1,808) | (5,691) |  |  |  |
(*) Spain includes all countries where BBVA, S.A. operates. (**) Turkey includes all countries in which Garanti BBVA operates. (***) In South America, BBVA Group operates mainly in Argentina, Colombia, Peru and Uruguay. (****) The amount of the accumulated allowances includes the provisions recorded for credit risk over the remaining expected lifetime of purchased financial instruments. Those provisions were determined at the moment of the Purchase Price Allocation and were originated mainly in the acquisition of Catalunya Banc S.A. (as of December 31, 2020 the remaining balance was €363 million). These valuation adjustments are recognized in the consolidated income statement during the residual life of the operations or are applied to the value corrections when the losses materialize.
December 2019 (Millions of Euros)
| Gross exposure | Accumulated allowances | Carrying amount
| Total | Stage 1 | Stage 2 | Stage 3 | Total | Stage 1 | Stage 2 | Stage 3 | Total | Stage 1 | Stage 2 | Stage 3
Spain (*) | 197,058 | 173,843 | 14,599 | 8,616 | (5,311) | (712) | (661) | (3,939) | 191,747 | 173,131 | 13,939 | 4,677
The United States | 57,387 | 49,744 | 7,011 | 632 | (688) | (165) | (342) | (182) | 56,699 | 49,580 | 6,670 | 450
Mexico | 60,099 | 54,748 | 3,873 | 1,478 | (2,013) | (697) | (404) | (912) | 58,087 | 54,052 | 3,469 | 566
Turkey (**) | 43,113 | 34,536 | 5,127 | 3,451 | (2,613) | (189) | (450) | (1,974) | 40,500 | 34,347 | 4,677 | 1,477
South America (***) | 36,265 | 31,754 | 2,742 | 1,769 | (1,769) | (366) | (323) | (1,079) | 34,497 | 31,388 | 2,419 | 690
Others | 839 | 824 | 7 | 9 | (8) | (1) | (1) | (6) | 832 | 823 | 6 | 2
Total (****) | 394,763 | 345,449 | 33,360 | 15,954 | (12,402) | (2,129) | (2,181) | (8,093) | 382,360 | 343,320 | 31,179 | 7,861
Of which: individual |  |  |  |  | (2,795) | (6) | (347) | (2,441) |  |  |  |
Of which: collective |  |  |  |  | (9,608) | (2,123) | (1,834) | (5,652) |  |  |  |
(*) Spain includes all countries where BBVA, S.A. operates. (**) Turkey includes all countries in which Garanti BBVA operates. (***) In South America, BBVA Group operates mainly in Argentina, Colombia, Peru and Uruguay. (****) The amount of the accumulated allowances includes the provisions recorded for credit risk over the remaining expected lifetime of purchased financial instruments. Those provisions were determined at the moment of the Purchase Price Allocation and were originated mainly in the acquisition of Catalunya Banc S.A. (as of December 31, 2019 the remaining balance was €433 million). These valuation adjustments are recognized in the consolidated income statement during the residual life of the operations or are applied to the value corrections when the losses materialize.
Maximum credit risk exposure, accumulated allowances and carrying amount by counterparty [Table Text Block] | The breakdown by counterparty of the maximum credit risk exposure, the accumulated allowances recorded, as well as the carrying amount by stages of loans and advances to customers as of December 31, 2021, 2020 and 2019 is shown below:
December 2021 (Millions of Euros)
| Gross exposure | Accumulated allowances | Net amount
| Total | Stage 1 | Stage 2 | Stage 3 | Total | Stage 1 | Stage 2 | Stage 3 | Total | Stage 1 | Stage 2 | Stage 3
Public administrations | 19,719 | 19,287 | 369 | 62 | (37) | (13) | (5) | (19) | 19,682 | 19,274 | 364 | 43
Other financial corporations | 9,826 | 9,672 | 131 | 24 | (23) | (8) | (6) | (9) | 9,804 | 9,664 | 125 | 15
Non-financial corporations | 146,797 | 120,140 | 19,366 | 7,290 | (5,804) | (759) | (1,306) | (3,738) | 140,993 | 119,381 | 18,060 | 3,552
Households | 153,714 | 132,096 | 14,336 | 7,281 | (5,253) | (1,184) | (773) | (3,295) | 148,461 | 130,912 | 13,563 | 3,986
Loans and advances to customers | 330,055 | 281,195 | 34,203 | 14,657 | (11,116) | (1,964) | (2,091) | (7,061) | 318,939 | 279,231 | 32,112 | 7,596
December 2020 (Millions of Euros)
| Gross exposure | Accumulated allowances | Net amount
| Total | Stage 1 | Stage 2 | Stage 3 | Total | Stage 1 | Stage 2 | Stage 3 | Total | Stage 1 | Stage 2 | Stage 3
Public administrations | 19,439 | 19,163 | 200 | 76 | (48) | (14) | (9) | (25) | 19,391 | 19,149 | 191 | 51
Other financial corporations | 9,856 | 9,747 | 95 | 14 | (39) | (25) | (6) | (7) | 9,817 | 9,722 | 88 | 7
Non-financial corporations | 142,547 | 119,891 | 15,179 | 7,477 | (6,123) | (774) | (1,110) | (4,239) | 136,424 | 119,117 | 14,069 | 3,238
Households | 151,410 | 129,196 | 15,108 | 7,106 | (5,895) | (1,192) | (1,161) | (3,542) | 145,515 | 128,005 | 13,946 | 3,564
Loans and advances to customers | 323,252 | 277,998 | 30,581 | 14,672 | (12,105) | (2,005) | (2,287) | (7,813) | 311,147 | 275,993 | 28,294 | 6,860
December 2019 (Millions of Euros)
| Gross exposure | Accumulated allowances | Net amount
| Total | Stage 1 | Stage 2 | Stage 3 | Total | Stage 1 | Stage 2 | Stage 3 | Total | Stage 1 | Stage 2 | Stage 3
Public administrations | 28,281 | 27,511 | 682 | 88 | (59) | (15) | (22) | (21) | 28,222 | 27,496 | 660 | 66
Other financial corporations | 11,239 | 11,085 | 136 | 17 | (31) | (19) | (2) | (10) | 11,207 | 11,066 | 134 | 8
Non-financial corporations | 173,254 | 148,768 | 16,018 | 8,468 | (6,465) | (811) | (904) | (4,750) | 166,789 | 147,957 | 15,114 | 3,718
Households | 181,989 | 158,085 | 16,523 | 7,381 | (5,847) | (1,283) | (1,252) | (3,312) | 176,142 | 156,801 | 15,272 | 4,069
Loans and advances to customers | 394,763 | 345,449 | 33,360 | 15,954 | (12,402) | (2,129) | (2,181) | (8,093) | 382,360 | 343,320 | 31,179 | 7,861
Loans and advances breakdown by counterparty and product [Table Text Block] | The breakdown by counterparty and product of loans and advances, net of loss allowances, as well as the gross carrying amount by type of product, classified in different headings of the assets, as of December 31, 2021, 2020 and 2019 is shown below:
December 2021 (Millions of Euros)
| Central banks | General governments | Credit institutions | Other financial corporations | Non-financial corporations | Households | Total | Gross carrying amount
On demand and short notice | — | 6 | — | 321 | 2,339 | 495 | 3,161 | 3,345
Credit card debt | — | — | — | 1 | 1,504 | 12,523 | 14,030 | 14,949
Commercial debtors |  | 791 | — | 476 | 18,191 | 66 | 19,524 | 19,766
Finance leases | — | 191 | — | 14 | 7,388 | 317 | 7,911 | 8,256
Reverse repurchase loans | 1,192 | — | 2,788 | 23 | — | — | 4,004 | 4,013
Other term loans | 4,174 | 18,440 | 4,004 | 5,413 | 110,204 | 134,505 | 276,739 | 286,127
Advances that are not loans | 315 | 394 | 6,510 | 3,554 | 1,805 | 630 | 13,208 | 13,263
LOANS AND ADVANCES | 5,681 | 19,822 | 13,303 | 9,804 | 141,431 | 148,536 | 338,577 | 349,719
By secured loans |  |  |  |  |  |  |  |
Of which: mortgage loans collateralized by immovable property |  | 324 | — | 220 | 21,531 | 94,821 | 116,897 | 119,980
Of which: other collateralized loans | 1,180 | 1,413 | 2,534 | 390 | 3,512 | 1,950 | 10,979 | 11,335
By purpose of the loan |  |  |  |  |  |  |  |
Of which: credit for consumption |  |  |  |  |  | 42,294 | 42,294 | 45,236
Of which: lending for house purchase |  |  |  |  |  | 95,209 | 95,209 | 96,612
By subordination |  |  |  |  |  |  |  |
Of which: project finance loans |  |  |  |  | 8,863 |  | 8,863 | 9,423
December 2020 (Millions of Euros) |  |  |  |  |  |  |  |
| Central banks | General governments | Credit institutions | Other financial corporations | Non-financial corporations | Households | Total | Gross carrying amount
On demand and short notice | — | 7 | — | 502 | 1,798 | 528 | 2,835 | 3,021
Credit card debt | — | — | — | 2 | 1,485 | 11,605 | 13,093 | 14,220
Commercial debtors |  | 898 | — | 317 | 14,262 | 67 | 15,544 | 15,796
Finance leases | — | 197 | — | 6 | 7,125 | 322 | 7,650 | 8,013
Reverse repurchase loans | 472 | — | 1,914 | — | 71 | — | 2,457 | 2,463
Other term loans | 5,690 | 18,111 | 3,972 | 5,799 | 111,141 | 132,603 | 277,317 | 287,467
Advances that are not loans | 48 | 260 | 8,721 | 3,191 | 1,084 | 473 | 13,777 | 13,833
LOANS AND ADVANCES | 6,209 | 19,475 | 14,608 | 9,817 | 136,966 | 145,598 | 332,672 | 344,813
By secured loans |  |  |  |  |  |  |  |
Of which: mortgage loans collateralized by immovable property |  | 372 | — | 209 | 22,091 | 94,147 | 116,819 | 120,194
Of which: other collateralized loans | 472 | 952 | — | 317 | 3,763 | 2,059 | 7,562 | 7,776
By purpose of the loan |  |  |  |  |  |  |  |
Of which: credit for consumption |  |  |  |  |  | 39,799 | 39,799 | 43,037
Of which: lending for house purchase |  |  |  |  |  | 94,098 | 94,098 | 95,751
By subordination |  |  |  |  |  |  |  |
Of which: project finance loans |  |  |  |  | 10,721 |  | 10,721 | 11,032
December 2019 (Millions of Euros) |  |  |  |  |  |  |  |
| Central banks | General governments | Credit institutions | Other financial corporations | Non-financial corporations | Households | Total | Gross carrying amount
On demand and short notice | — | 9 | — | 118 | 2,328 | 595 | 3,050 | 3,251
Credit card debt | — | 10 | 1 | 3 | 1,940 | 14,401 | 16,355 | 17,608
Commercial debtors |  | 971 | — | 230 | 15,976 | 99 | 17,276 | 17,617
Finance leases | — | 227 | — | 6 | 8,091 | 387 | 8,711 | 9,095
Reverse repurchase loans | — | — | 1,817 | — | 26 | — | 1,843 | 1,848
Other term loans | 4,240 | 26,734 | 4,121 | 7,795 | 137,934 | 160,223 | 341,047 | 351,230
Advances that are not loans | 35 | 865 | 7,743 | 3,056 | 951 | 506 | 13,156 | 13,214
LOANS AND ADVANCES | 4,275 | 28,816 | 13,682 | 11,208 | 167,246 | 176,211 | 401,438 | 413,863
By secured loans |  |  |  |  |  |  |  |
Of which: mortgage loans collateralized by immovable property |  | 1,067 | 15 | 261 | 23,575 | 111,085 | 136,003 | 139,317
Of which: other collateralized loans | — | 10,447 | 93 | 2,106 | 29,009 | 6,893 | 48,548 | 49,266
By purpose of the loan |  |  |  |  |  |  |  |
Of which: credit for consumption |  |  |  |  |  | 46,356 | 46,356 | 49,474
Of which: lending for house purchase |  |  |  |  |  | 110,178 | 110,178 | 111,636
By subordination |  |  |  |  |  |  |  |
Of which: project finance loans |  |  |  |  | 12,259 |  | 12,259 | 12,415
Impaired loans and advances at amortized cost covered by collateral [Table Text Block] | The disclosure of impaired loans and advances at amortized cost covered by collateral (see Note 7.2.6), by type of collateral, as of December 31, 2021, 2020 and 2019, is the following:
Impaired loans and advances at amortized cost covered by collateral (Millions of Euros)
| Maximum exposure to credit risk | Of which secured by collateral
| Residential properties | Commercial properties | Cash | Others | Financial
December 2021 | 14,657 | 2,875 | 1,068 | 5 | 33 | 886
December 2020 | 14,678 | 2,717 | 789 | 18 | 52 | 575
December 2019 | 15,959 | 3,396 | 939 | 35 | 221 | 542
Guarantees Received [Table Text Block] | The value of guarantees received as of December 31, 2021, 2020 and 2019, is the following:
Guarantees received (Millions of Euros) |  |  |  |  |  |  |
| 2021 | 2020 | 2019 |  |  |  |
Value of collateral | 117,362 | 116,900 | 152,454 |  |  |  |
Of which: guarantees normal risks under special monitoring | 11,768 | 11,296 | 14,623 |  |  |  |
Of which: guarantees non-performing risks | 3,981 | 3,577 | 4,590 |  |  |  |
Value of other guarantees | 48,680 | 47,012 | 35,464 |  |  |  |
Of which: guarantees normal risks under special monitoring | 7,404 | 4,045 | 3,306 |  |  |  |
Of which: guarantees non-performing risks | 886 | 575 | 542 |  |  |  |
Total value of guarantees received | 166,042 | 163,912 | 187,918 |  |  |  |
Abridged scale to classify BBVA group outstanding risk [Table Text Block] | The table below shows the abridged scale used to classify the BBVA Group’s outstanding risk as of December 31, 2021:
| Internal rating | Probability of default (basis points)
| Reduced List (22 groups) | Average | Minimum from >= | Maximum
| AAA | 1 | — | 2
| AA+ | 2 | 2 | 3
| AA | 3 | 3 | 4
| AA- | 4 | 4 | 5
| A+ | 5 | 5 | 6
| A | 8 | 6 | 9
| A- | 10 | 9 | 11
| BBB+ | 14 | 11 | 17
| BBB | 20 | 17 | 24
| BBB- | 31 | 24 | 39
| BB+ | 51 | 39 | 67
| BB | 88 | 67 | 116
| BB- | 150 | 116 | 194
| B+ | 255 | 194 | 335
| B | 441 | 335 | 581
| B- | 785 | 581 | 1,061
| CCC+ | 1,191 | 1,061 | 1,336
| CCC | 1,500 | 1,336 | 1,684
| CCC- | 1,890 | 1,684 | 2,121
| CC+ | 2,381 | 2,121 | 2,673
| CC | 3,000 | 2,673 | 3,367
| CC- | 3,780 | 3,367 | 4,243
Probability of default basis points [Table Text Block] | The table below outlines the distribution by probability of default within 12 months and through the lifetime of the asset, and stages of the gross carrying amount of loans and advances to customers in percentage terms of the BBVA Group as of December 31, 2021, 2020 and 2019:
Probability of default (basis points)
| 2021 | 2020 | 2019
| Subject to 12 month ECL (Stage 1) | Subject to lifetime ECL (Stage 2) | Subject to 12 month ECL (Stage 1) | Subject to lifetime ECL (Stage 2) | Subject to 12 month ECL (Stage 1) | Subject to lifetime ECL (Stage 2)
| % | % | % | % | % | %
0 to 2 | 5.8 | — | 4.0 | — | 5.5 | —
2 to 5 | 15.7 | 0.1 | 10.2 | 0.1 | 6.3 | —
5 to 11 | 15.2 | 0.2 | 7.7 | 0.1 | 14.6 | 0.2
11 to 39 | 18.7 | 0.6 | 26.8 | 0.5 | 24.5 | 0.8
39 to 194 | 19.1 | 2.5 | 24.0 | 2.3 | 24.5 | 1.6
194 to 1,061 | 12.2 | 3.8 | 15.1 | 3.4 | 14.0 | 3.6
1,061 to 2,121 | 1.9 | 1.5 | 1.5 | 1.2 | 1.4 | 1.2
> 2,121 | 0.8 | 1.9 | 0.6 | 2.5 | 0.4 | 1.5
Total | 89.4 | 10.6 | 89.9 | 10.1 | 91.0 | 9.0
Impaired secured loans risks [Table Text Block] | The breakdown of loans and advances within financial assets at amortized cost, by impaired amount, accumulated impairment, gross carrying amount and by counterparties, as of December 31, 2021, 2020 and 2019 is as follows:
December 2021 (Millions of Euros) |  |  |  |
| Gross carrying amount | Impaired loans and advances | Accumulated impairment | Impaired loans and advances as a % of the total
Central banks | 5,687 | — | (6) | — | %
General governments | 19,719 | 62 | (37) | 0.3 | %
Credit institutions | 13,295 | — | (19) | — | %
Other financial corporations | 9,826 | 24 | (23) | 0.2 | %
Non-financial corporations | 146,797 | 7,290 | (5,804) | 5.0 | %
Agriculture, forestry and fishing | 4,077 | 125 | (154) | 3.1 | %
Mining and quarrying | 4,889 | 222 | (130) | 4.5 | %
Manufacturing | 35,058 | 1,003 | (867) | 2.9 | %
Electricity, gas, steam and air conditioning supply | 13,718 | 570 | (489) | 4.2 | %
Water supply | 782 | 22 | (21) | 2.9 | %
Construction | 8,336 | 894 | (619) | 10.7 | %
Wholesale and retail trade | 25,856 | 1,311 | (1,104) | 5.1 | %
Transport and storage | 10,310 | 879 | (400) | 8.5 | %
Accommodation and food service activities | 7,693 | 470 | (405) | 6.1 | %
Information and communications | 6,533 | 117 | (56) | 1.8 | %
Financial and insurance activities | 6,216 | 197 | (181) | 3.2 | %
Real estate activities | 9,438 | 719 | (466) | 7.6 | %
Professional, scientific and technical activities | 3,910 | 185 | (152) | 4.7 | %
Administrative and support service activities | 3,046 | 181 | (132) | 5.9 | %
Public administration and defense; compulsory social security | 203 | 9 | (11) | 4.5 | %
Education | 582 | 43 | (34) | 7.4 | %
Human health services and social work activities | 1,888 | 48 | (41) | 2.5 | %
Arts, entertainment and recreation | 1,011 | 209 | (95) | 20.7 | %
Other services | 3,250 | 84 | (447) | 2.6 | %
Households | 153,714 | 7,281 | (5,253) | 4.7 | %
LOANS AND ADVANCES | 349,037 | 14,657 | (11,142) | 4.2 | %
December 2020 (Millions of Euros) |  |  |  |
| Gross carrying amount | Impaired loans and advances | Accumulated impairment | Impaired loans and advances as a % of the total
Central banks | 6,229 | — | (20) | — | %
General governments | 19,439 | 76 | (48) | 0.4 | %
Credit institutions | 14,591 | 6 | (16) | — | %
Other financial corporations | 9,856 | 14 | (39) | 0.1 | %
Non-financial corporations | 142,547 | 7,477 | (6,123) | 5.2 | %
Agriculture, forestry and fishing | 3,438 | 132 | (108) | 3.8 | %
Mining and quarrying | 4,349 | 47 | (59) | 1.1 | %
Manufacturing | 33,771 | 1,486 | (1,129) | 4.4 | %
Electricity, gas, steam and air conditioning supply | 13,490 | 591 | (509) | 4.4 | %
Water supply | 899 | 17 | (15) | 1.9 | %
Construction | 10,019 | 1,397 | (722) | 13.9 | %
Wholesale and retail trade | 24,594 | 1,456 | (1,223) | 5.9 | %
Transport and storage | 8,117 | 489 | (368) | 6.0 | %
Accommodation and food service activities | 8,337 | 358 | (294) | 4.3 | %
Information and communications | 5,764 | 73 | (60) | 1.3 | %
Financial and insurance activities | 5,298 | 123 | (132) | 2.3 | %
Real estate activities | 10,025 | 617 | (494) | 6.2 | %
Professional, scientific and technical activities | 2,886 | 177 | (124) | 6.1 | %
Administrative and support service activities | 3,955 | 142 | (192) | 3.6 | %
Public administration and defense, compulsory social security | 129 | 5 | (4) | 3.5 | %
Education | 665 | 54 | (43) | 8.1 | %
Human health services and social work activities | 1,812 | 67 | (59) | 3.7 | %
Arts, entertainment and recreation | 1,131 | 46 | (65) | 4.1 | %
Other services | 3,871 | 198 | (523) | 5.1 | %
Households | 151,410 | 7,106 | (5,895) | 4.7 | %
LOANS AND ADVANCES | 344,072 | 14,678 | (12,141) | 4.3 | %
December 2019 (Millions of Euros) |  |  |  |
| Gross carrying amount | Impaired loans and advances | Accumulated impairment | Impaired loans and advances as a % of the total
Central banks | 4,285 | — | (9) | — | %
General governments | 28,281 | 88 | (60) | 0.3 | %
Credit institutions | 13,664 | 6 | (15) | — | %
Other financial corporations | 11,239 | 17 | (31) | 0.2 | %
Non-financial corporations | 173,254 | 8,467 | (6,465) | 4.9 | %
Agriculture, forestry and fishing | 3,758 | 154 | (124) | 4.1 | %
Mining and quarrying | 4,669 | 100 | (86) | 2.1 | %
Manufacturing | 39,517 | 1,711 | (1,242) | 4.3 | %
Electricity, gas, steam and air conditioning supply | 12,305 | 684 | (575) | 5.6 | %
Water supply | 900 | 14 | (16) | 1.6 | %
Construction | 10,945 | 1,377 | (876) | 12.6 | %
Wholesale and retail trade | 27,467 | 1,799 | (1,448) | 6.6 | %
Transport and storage | 9,638 | 507 | (392) | 5.3 | %
Accommodation and food service activities | 8,703 | 279 | (203) | 3.2 | %
Information and communications | 6,316 | 95 | (65) | 1.5 | %
Financial and insurance activities | 6,864 | 191 | (140) | 2.8 | %
Real estate activities | 19,435 | 782 | (527) | 4.0 | %
Professional, scientific and technical activities | 4,375 | 167 | (140) | 3.8 | %
Administrative and support service activities | 3,415 | 118 | (134) | 3.4 | %
Public administration and defense, compulsory social security | 282 | 5 | (6) | 1.7 | %
Education | 903 | 41 | (38) | 4.5 | %
Human health services and social work activities | 4,696 | 66 | (55) | 1.4 | %
Arts, entertainment and recreation | 1,396 | 47 | (39) | 3.4 | %
Other services | 7,671 | 331 | (360) | 4.3 | %
Households | 181,989 | 7,381 | (5,847) | 4.1 | %
LOANS AND ADVANCES | 412,711 | 15,959 | (12,427) | 3.9 | %
Changes in impaired financial assets and guarantees given [Table Text Block] | The changes during the years 2021, 2020 and 2019 of impaired financial assets and contingent risks are as follows:
Changes in impaired financial assets and guarantees given (Millions of Euros) |  |  |  |  |
|  | 2021 | 2020 | 2019 |  |  |  |  |
Balance at the beginning |  | 15,478 | 16,770 | 17,134 |  |  |  |  |
Additions |  | 8,556 | 9,533 | 9,857 |  |  |  |  |
Decreases (*) |  | (4,555) | (5,024) | (5,874) |  |  |  |  |
Net additions |  | 4,001 | 4,509 | 3,983 |  |  |  |  |
Amounts written-off |  | (3,613) | (3,603) | (3,803) |  |  |  |  |
Exchange differences and other |  | (399) | (968) | (544) |  |  |  |  |
Discontinued operations |  | — | (1,230) | — |  |  |  |  |
Balance at the end |  | 15,467 | 15,478 | 16,770 |  |  |  |  |
(*) Reflects the total amount of impaired loans derecognized from the consolidated balance sheet throughout the year as a result of mortgage foreclosures and real estate assets received in lieu of payment as well as monetary recoveries.
Changes in impaired financial assets written off from the balance sheet [Table Text Block] |
Changes in impaired financial assets written-off from the balance sheet (Millions of Euros)
| Notes | 2021 | 2020 | 2019
Balance at the beginning |  | 22,001 | 26,245 | 32,343
Companies held for sale (*) |  | — | (4,646) | —
Increase |  | 3,709 | 3,440 | 4,712
Decrease: |  | (3,605) | (2,715) | (11,039)
Re-financing or restructuring |  | (1) | (7) | (2)
Cash recovery | 47 | (423) | (339) | (919)
Foreclosed assets |  | (17) | (479) | (617)
Sales (**) |  | (2,437) | (1,223) | (8,325)
Debt forgiveness |  | (599) | (607) | (493)
Time-barred debt and other causes |  | (129) | (60) | (682)
Net exchange differences |  | (116) | (323) | 230
Balance at the end |  | 21,990 | 22,001 | 26,245
(*) The amount in 2020 includes the balance of the companies in the United States included in the USA Sale (see Notes 1.3, 3 and 21). (**) Includes principal and interest.
Changes in gross accounting balances of loans and advances at amortized cost [Table Text Block] | Movements, measured over a 12-month period, in gross accounting balances and accumulated allowances for loan losses during 2021, 2020 and 2019 are recorded on the accompanying consolidated balance sheet as of December 31, 2021, 2020 and 2019, in order to cover the estimated loss allowances in loans and advances and debt securities measured at amortized cost.
Changes in gross accounting balances of loans and advances at amortized cost. Year 2021 (Millions of Euros)
| Stage 1 | Stage 2 | Stage 3 | Total
Balance at the beginning | 298,793 | 30,601 | 14,678 | 344,072
Transfers of financial assets: | (10,785) | 8,640 | 2,145 | —
Transfers from stage 1 to Stage 2 | (14,482) | 14,482 | — | —
Transfers from stage 2 to Stage 1 | 4,905 | (4,905) | — | —
Transfers to Stage 3 | (1,772) | (1,945) | 3,717 | —
Transfers from Stage 3 | 564 | 1,009 | (1,573) | —
Net annual origination of financial assets | 17,876 | (4,729) | 1,217 | 14,364
Becoming write-offs | (74) | (68) | (3,095) | (3,237)
Changes in model / methodology | — | — | — | —
Foreign exchange | (6,054) | (1,902) | (216) | (8,172)
Modifications that do not result in derecognition | 187 | 1,642 | 189 | 2,018
Other | 224 | 29 | (261) | (8)
Balance at the end | 300,167 | 34,213 | 14,657 | 349,037
Changes in gross accounting balances of loans and advances at amortized cost. Year 2020 (Millions of Euros)
| Stage 1 | Stage 2 | Stage 3 | Total
Balance at the beginning | 363,234 | 33,518 | 15,959 | 412,711
Transfers of financial assets: | (11,935) | 8,807 | 3,128 | —
Transfers from stage 1 to Stage 2 | (15,843) | 15,843 | — | —
Transfers from stage 2 to Stage 1 | 5,107 | (5,107) | — | —
Transfers to Stage 3 | (1,701) | (2,659) | 4,359 | —
Transfers from Stage 3 | 502 | 729 | (1,231) | —
Net annual origination of financial assets | 16,119 | (827) | 102 | 15,395
Becoming write-offs | (3) | (2) | (2,944) | (2,949)
Changes in model / methodology | — | — | — | —
Foreign exchange | (21,472) | (2,342) | (1,157) | (24,970)
Modifications that do not result in derecognition | (204) | 827 | 511 | 1,134
Other | (283) | (190) | 270 | (204)
Discontinued operations | (46,664) | (9,190) | (1,192) | (57,045)
Balance at the end | 298,793 | 30,601 | 14,678 | 344,072
Changes in gross accounting balances of loans and advances at amortized cost. Year 2019 (Millions of Euros)
| Stage 1 | Stage 2 | Stage 3 | Total
Balance at the beginning | 352,282 | 30,707 | 16,359 | 399,347
Transfers of financial assets: | (9,021) | 6,279 | 2,741 | —
Transfers from stage 1 to stage 2 | (13,546) | 13,546 | — | —
Transfers from stage 2 to stage 1 | 5,656 | (5,656) | — | —
Transfers to stage 3 | (1,571) | (2,698) | 4,269 | —
Transfers from stage 3 | 440 | 1,087 | (1,527) | —
Net annual origination of financial assets | 20,296 | (2,739) | 246 | 17,804
Becoming write-offs | (152) | (349) | (3,407) | (3,908)
Changes in model / methodology | — | — | — | —
Foreign exchange | 1,611 | 35 | 16 | 1,662
Modifications that do not result in derecognition | (1) | (27) | 15 | (13)
Other | (1,782) | (388) | (11) | (2,180)
Balance at the end | 363,234 | 33,518 | 15,959 | 412,711
Changes in allowances of loans and advances at amortized cost [Table Text Block] |
Changes in allowances of loans and advances at amortized cost. Year 2021 (Millions of Euros)
| Stage 1 | Stage 2 | Stage 3 | Total
Balance at the beginning | (2,037) | (2,289) | (7,815) | (12,141)
Transfers of financial assets: | 187 | 441 | (2,521) | (1,893)
Transfers from stage 1 to Stage 2 | 139 | (602) | — | (463)
Transfers from stage 2 to Stage 1 | (60) | 307 | — | 247
Transfers to Stage 3 | 111 | 802 | (2,775) | (1,862)
Transfers from Stage 3 | (3) | (66) | 254 | 185
Net annual origination of allowances | (563) | (57) | (314) | (933)
Becoming write-offs | 45 | 56 | 2,694 | 2,795
Changes in model / methodology | — | — | — | —
Foreign exchange | 70 | (270) | 719 | 519
Modifications that do not result in derecognition | 12 | (79) | (122) | (189)
Other | 297 | 106 | 298 | 701
Balance at the end | (1,990) | (2,091) | (7,061) | (11,142)
Changes in allowances of loans and advances at amortized cost. Year 2020 (Millions of Euros)
| Stage 1 | Stage 2 | Stage 3 | Total
Balance at the beginning | (2,149) | (2,183) | (8,094) | (12,427)
Transfers of financial assets: | 184 | (511) | (1,806) | (2,133)
Transfers from stage 1 to stage 2 | 156 | (923) | — | (766)
Transfers from stage 2 to stage 1 | (50) | 253 | — | 202
Transfers to stage 3 | 81 | 218 | (1,950) | (1,652)
Transfers from stage 3 | (3) | (59) | 144 | 83
Net annual origination of allowances | (872) | (795) | (1,329) | (2,996)
Becoming write-offs | — | — | 2,567 | 2,568
Changes in model / methodology | — | — | — | —
Foreign exchange | 227 | 256 | 721 | 1,204
Modifications that do not result in derecognition | 12 | (118) | (177) | (283)
Other | 160 | 618 | 25 | 803
Discontinued operations | 401 | 444 | 278 | 1,123
Balance at the end | (2,037) | (2,289) | (7,815) | (12,141)
Changes in allowances of loans and advances at amortized cost. Year 2019 (Millions of Euros)
| Stage 1 | Stage 2 | Stage 3 | Total
Balance at the beginning | (2,082) | (2,375) | (7,761) | (12,217)
Transfers of financial assets: | 176 | (227) | (1,574) | (1,626)
Transfers from stage 1 to stage 2 | 126 | (649) | — | (523)
Transfers from stage 2 to stage 1 | (38) | 273 | — | 235
Transfers to stage 3 | 89 | 234 | (1,810) | (1,487)
Transfers from stage 3 | (1) | (86) | 236 | 149
Net annual origination of allowances | (542) | (116) | (1,711) | (2,370)
Becoming write-offs | 130 | 337 | 2,789 | 3,256
Changes in model / methodology | — | — | — | —
Foreign exchange | (30) | (18) | 69 | 20
Modifications that do not result in derecognition | (15) | (149) | (89) | (254)
Other | 215 | 366 | 183 | 764
Balance at the end | (2,149) | (2,183) | (8,094) | (12,427)
Sensitivity to interest rate analysis [Table Text Block] | The table below shows the profile of average structural interest rate risk and credit spread risk of fixed income portfolio in the banking book classified as HtC&S in terms of sensitivities of the main currencies for the BBVA Group in 2021:
Sensitivity to interest-rate and credit spread analysis. Year 2021 |
| interest rate risk and | credit spread
| Impact on net interest income (*) | Impact on economic value (**) | Impact on economic value (**)
| 100 basis-point increase | 100 basis-point decrease (***) | 100 basis-point increase | 100 basis-point decrease (***) | 100 basis-point increase
EUR | [3.5% , 5.5%] | [-3.5% , -1.5%] | [3.5% , 5.5%] | [-3.5% , -1.5%] | [-3.5% , -1.5%]
MXN | [0.5% , 1.5%] | [-1.5% , -0.5%] | [-1.5% , -0.5%] | [0.5% , 1.5%] | [-0.5% , 0.5%]
USD | [0.5% , 1.5%] | [-1.5% , -0.5%] | [0.5% , 1.5%] | [-1.5% , -0.5%] | [-0.5% , 0.5%]
TRY | [-0.5% , 0.5%] | [-0.5% , 0.5%] | [-0.5% , 0.5%] | [-0.5% , 0.5%] | [-0.5% , 0.5%]
Other | [-0.5% , 0.5%] | [-0.5% , 0.5%] | [-0.5% , 0.5%] | [-0.5% , 0.5%] | [-0.5% , 0.5%]
BBVA Group | [7.5% , 10.0%] | [-5.5% , -3.5%] | [3.5% , 5.5%] | [-3.5% , -1.5%] | [-3.5% , -1.5%]
(*) Percentage of "12 months" net interest income for the BBVA Group. (**) Percentage of CET1 (Fully Loaded) for BBVA Group (***) In EUR and USD (and GBP included in "Other"), negative interest rates scenarios are allowed up to plausible levels lower than current rates.
Sensitivity to one percent of the average rate in the main currencies [Table Text Block] | For the years 2021, 2020 and 2019, the estimated sensitivities of the result attributable to the parent company are shown below, taking into account the coverage, against depreciations and appreciations of 1% of the average rate in the main currencies. To the extent that hedging positions are periodically modulated, the sensitivity estimate attempts to reflect an average (or effective) sensitivity in the year:
Sensitivity to 1% change (Millions of Euros)
Currency | 2021 | 2020 | 2019
Mexican peso | 14.0 | 4.9 | 12.7
Turkish lira | 4.7 | 4.5 | 3.1
Peruvian sol | 0.3 | 0.4 | 1.9
Chilean peso | 0.6 | 0.3 | 0.5
Colombian peso | 1.1 | 1.4 | 2.6
Argentine peso | 0.6 | 0.9 | 1.3
VaR by Risk factor [Table Text Block] | As of December 31, 2021, 2020 and 2019 the VaR was €31 million, €28 million and €20 million, respectively. The total VaR figures for 2021, 2020 and 2019 can be broken down as follows:
VaR by Risk Factor (Millions of Euros)
| Interest/Spread risk | Currency risk | Stock-market risk | Vega/Correlation risk | Diversification effect(*) | Total
2021 |  |  |  |  |  |
VaR average in the year | 33 | 10 | 2 | 11 | (28) | 29
VaR max in the year | 32 | 13 | 4 | 1 | (14) | 36
VaR min in the year | 27 | 9 | 1 | 10 | (25) | 22
End of period VaR | 34 | 9 | 5 | 11 | (29) | 31
2020 |  |  |  |  |  |
VaR average in the year | 29 | 12 | 4 | 11 | (28) | 27
VaR max in the year | 39 | 20 | 10 | 20 | (14) | 39
VaR min in the year | 20 | 3 | 1 | 6 | (39) | 18
End of period VaR | 32 | 12 | 2 | 11 | (29) | 28
2019 |  |  |  |  |  |
VaR average in the year | 21 | 6 | 4 | 9 | (20) | 19
VaR max in the year | 28 | 6 | 3 | 9 | (21) | 25
VaR min in the year | 13 | 5 | 5 | 9 | (18) | 14
End of period VaR | 24 | 5 | 5 | 8 | (22) | 20
(*) The diversification effect is the difference between the sum of the average individual risk factors and the total VaR figure that includes the implied correlation between all the variables and scenarios used in the measurement.
Impact of the stress test [Table Text Block] | The impact of the stress test under multivariable simulation of the risk factors of the portfolio based on the expected shortfall (expected shortfall calculated at a 97.5% confidence level, 20 days) as of December 31, 2021 is as follows:
Impact of the stress test (Millions of Euros)
0 | Europe | Mexico | Peru | Venezuela | Argentina | Colombia | Turkey
Expected shortfall | (76) | (75) | (11) | — | (5) | (5) | (8)
Effect offsetting for derivatives and securities operation [Table Text Block] | A summary of the effect of offsetting (via netting and collateral) for derivatives and securities operations is presented below as of December 31, 2021, 2020 and 2019:
Effect of offsetting for derivatives and securities operation (Millions of Euros)
|  |  |  |  | Gross amounts not offset in the consolidated balance sheets (D) |
| Notes | Gross amounts recognized (A) | Gross amounts offset in the consolidated balance sheets (B) | Net amount presented in the consolidated balance sheets (C=A-B) | Financial instruments | Cash collateral received/ pledged | Net amount (E=C-D)
December 2021 |  |  |  |  |  |  |
Trading and hedging derivatives | 10, 15 | 36,349 | 3,611 | 32,737 | 22,524 | 8,758 | 1,456
Reverse repurchase, securities borrowing and similar agreements |  | 54,296 | — | 54,296 | 55,010 | 2,213 | (2,927)
Total assets |  | 90,645 | 3,611 | 87,034 | 77,534 | 10,971 | (1,471)
Trading and hedging derivatives | 10, 15 | 37,916 | 3,584 | 34,331 | 22,524 | 10,119 | 1,688
Repurchase, securities lending and similar agreements |  | 54,159 | — | 54,159 | 58,174 | 679 | (4,694)
Total liabilities |  | 92,074 | 3,584 | 88,490 | 80,698 | 10,798 | (3,006)
December 2020 |  |  |  |  |  |  |
Trading and hedging derivatives | 10, 15 | 47,862 | 5,688 | 42,173 | 33,842 | 9,018 | (686)
Reverse repurchase, securities borrowing and similar agreements |  | 32,121 | — | 32,121 | 32,762 | 161 | (802)
Total assets |  | 79,983 | 5,688 | 74,294 | 66,604 | 9,178 | (1,488)
Trading and hedging derivatives | 10, 15 | 49,720 | 5,722 | 43,998 | 33,842 | 9,435 | 721
Repurchase, securities lending and similar agreements |  | 41,571 | — | 41,571 | 42,298 | 1,619 | (2,346)
Total liabilities |  | 91,291 | 5,722 | 85,569 | 76,140 | 11,054 | (1,624)
December 2019 |  |  |  |  |  |  |
Trading and hedging derivatives | 10, 15 | 36,349 | 2,388 | 33,961 | 25,020 | 8,210 | 731
Reverse repurchase, securities borrowing and similar agreements |  | 33,539 | 21 | 33,518 | 33,352 | 204 | (39)
Total assets |  | 69,888 | 2,409 | 67,479 | 58,372 | 8,415 | 692
Trading and hedging derivatives | 10, 15 | 38,693 | 2,394 | 36,299 | 25,020 | 10,613 | 667
Repurchase, securities lending and similar agreements |  | 43,712 | 21 | 43,691 | 42,974 | 420 | 297
Total liabilities |  | 82,404 | 2,414 | 79,990 | 67,993 | 11,033 | 964
LtSCD by LMU [Table Text Block] | The performance of the indicators show that the adequacy of the funding structure remained steady during 2021, 2020 and 2019, in the sense that all LMU held self-funding levels with stable customer resources above the requirements.
LtSCD by LMU
| 2021 | 2020 | 2019
Group (average) | 95% | 95% | 108%
BBVA S.A. | 98% | 97% | 108%
BBVA Mexico | 93% | 98% | 116%
Garanti BBVA | 81% | 95% | 99%
Other LMU | 93% | 86% | 103%
LCR main LMU [Table Text Block] | Although this requirement is only established at a Group level, for banks in the Eurozone, the minimum level required is comfortably exceeded in all subsidiaries. It should be noted that the calculation of the Consolidated LCR does not allow the transfer of liquidity between subsidiaries, so no excess liquidity may be transferred from these entities for the purpose of calculating the consolidated ratio. If the impact of these highly liquid assets was considered, the LCR would be 213%, or +48 basis points above the required level.
LCR main LMU
0 | 2021 | 2020 | 2019
Group | 165% | 149% | 129%
BBVA S.A. | 190% | 173% | 147%
BBVA Mexico | 245% | 196% | 147%
Garanti BBVA | 211% | 183% | 206%
Liquidity available by instrument [Table Text Block] | The table below shows the liquidity available by instrument as of December 31, 2021, 2020 and 2019 for the most significant entities based on prudential supervisor’s information (Commission Implementing Regulations (EU) 2017/2114 of November 9, 2017):
Liquidity available by instrument (Millions of Euros)
| BBVA S.A. | BBVA Mexico |  | Garanti BBVA | Other
| 2021 | 2020 | 2019 | 2021 | 2020 | 2019 |  |  |  | 2021 | 2020 | 2019 | 2021 | 2020 | 2019 (*)
Cash and withdrawable central bank reserves | 35,258 | 39,330 | 14,516 | 12,146 | 8,930 | 6,246 |  |  |  | 8,179 | 6,153 | 6,450 | 6,469 | 6,831 | 11,317
Level 1 tradable assets | 37,272 | 48,858 | 41,961 | 13,881 | 9,205 | 7,295 |  |  |  | 5,549 | 7,019 | 7,953 | 6,036 | 6,237 | 14,930
Level 2A tradable assets | 5,234 | 5,119 | 403 | 74 | 106 | 316 |  |  |  | — | — | — | — | — | 344
Level 2B tradable assets | 9,492 | 6,080 | 5,196 | 28 | 11 | 219 |  |  |  | — | — | — | 2 | — | 12
Other tradable assets | 27,870 | 20,174 | 22,213 | 343 | 421 | 1,269 |  |  |  | 722 | 701 | 669 | 934 | 745 | 1,538
Non tradable assets eligible for central banks | — | — | — | — | — | — |  |  |  | — | — | — | — | — | 2,935
Cumulated counterbalancing capacity | 115,127 | 119,560 | 84,288 | 26,472 | 18,672 | 15,344 |  |  |  | 14,449 | 13,873 | 15,072 | 13,440 | 13,814 | 31,075
(*) In 2019 it includes the balance of the companies in the United States (see Notes 1.3, 3 and 21).
NSFR main LMU [Table Text Block] | The NSFR of BBVA Group and its main LMU at December 31, 2021, 2020 and 2019, was the following:
NSFR main LMU
| 2021 | 2020(*) | 2019(*)
Group | 135 % | 127 % | 120 %
BBVA S.A. | 126% | 121% | 113%
BBVA Mexico | 149% | 138% | 130%
Garanti BBVA | 162% | 154% | 151%
(*) Ratio calculated based on the Basel requirements for 2019 and 2020.
Residual maturities by contractual periods [Table Text Block] | Below is a matrix of residual maturities by contractual periods based on supervisory prudential reporting as of December 31, 2021, 2020 and 2019:
December 2021. Contractual maturities (Millions of Euros)
| Demand | Up to 1 month | 1 to 3 months | 3 to 6 months | 6 to 9 months | 9 to 12 months | 1 to 2 years | 2 to 3 years | 3 to 5 years | Over 5 years | Total
ASSETS |  |  |  |  |  |  |  |  |  |  |
Cash, cash balances at central banks and other demand deposits | 39,761 | 24,598 | — | — | — | — | — | — | — | — | 64,359
Deposits in credit entities | — | 3,781 | 400 | 790 | 373 | 299 | 211 | 166 | 8 | 26 | 6,056
Deposits in other financial institutions | 2 | 901 | 801 | 584 | 727 | 432 | 694 | 470 | 261 | 469 | 5,343
Reverse repo, securities borrowing and margin lending | — | 33,856 | 11,611 | 2,945 | 1,063 | 1,692 | 2,188 | 2,239 | 1,118 | 739 | 57,451
Loans and advances | 174 | 18,531 | 23,185 | 22,141 | 11,769 | 13,782 | 39,656 | 30,049 | 44,508 | 94,780 | 298,574
Securities' portfolio settlement | 10 | 1,779 | 3,606 | 3,395 | 2,333 | 3,958 | 18,854 | 13,135 | 17,214 | 47,331 | 111,614
December 2021. Contractual maturities (Millions of Euros)
| Demand | Up to 1 month | 1 to 3 months | 3 to 6 months | 6 to 9 months | 9 to 12 months | 1 to 2 years | 2 to 3 years | 3 to 5 years | Over 5 years | Total
LIABILITIES |  |  |  |  |  |  |  |  |  |  |
Wholesale funding | — | 3,065 | 1,077 | 3,498 | 2,914 | 1,885 | 9,477 | 4,931 | 12,332 | 19,991 | 59,169
Deposits in financial institutions | 1,936 | 4,257 | 415 | 825 | 183 | 924 | 496 | 146 | 146 | 579 | 9,907
Deposits in other financial institutions and international agencies | 8,894 | 2,728 | 1,700 | 382 | 289 | 227 | 578 | 231 | 337 | 722 | 16,087
Customer deposits | 281,812 | 28,806 | 11,814 | 4,867 | 1,717 | 1,520 | 1,740 | 578 | 863 | 416 | 334,132
Security pledge funding | — | 52,437 | 6,858 | 2,485 | 1,513 | 8,252 | 29,954 | 5,527 | 4,755 | 1,490 | 113,269
Derivatives, net | (33) | (395) | (176) | (326) | (66) | (641) | 100 | (122) | (155) | (66) | (1,880)
December 2020. Contractual maturities (Millions of Euros) (*)
| Demand | Up to 1 month | 1 to 3 months | 3 to 6 months | 6 to 9 months | 9 to 12 months | 1 to 2 years | 2 to 3 years | 3 to 5 years | Over 5 years | Total
ASSETS |  |  |  |  |  |  |  |  |  |  |
Cash, cash balances at central banks and other demand deposits | 42,518 | 32,741 | — | — | — | — | — | — | — | — | 75,258
Deposits in credit entities | — | 3,616 | 677 | 921 | 356 | 461 | 117 | 120 | 2 | 39 | 6,309
Deposits in other financial institutions | — | 2,202 | 855 | 797 | 734 | 543 | 1,251 | 721 | 515 | 500 | 8,119
Reverse repo, securities borrowing and margin lending | — | 20,033 | 4,757 | 1,351 | 364 | 368 | 3,320 | 1,849 | 891 | 1,089 | 34,021
Loans and advances | 279 | 16,939 | 24,280 | 23,012 | 15,579 | 17,032 | 46,182 | 38,851 | 51,709 | 110,173 | 344,036
Securities' portfolio settlement | — | 3,896 | 6,680 | 6,557 | 5,084 | 13,014 | 9,858 | 15,494 | 17,231 | 50,045 | 127,859
(*) It includes the balance of the companies in the United States (see Notes 1.3, 3 and 21).
December 2020. Contractual maturities (Millions of Euros) (*)
| Demand | Up to 1 month | 1 to 3 months | 3 to 6 months | 6 to 9 months | 9 to 12 months | 1 to 2 years | 2 to 3 years | 3 to 5 years | Over 5 years | Total
LIABILITIES |  |  |  |  |  |  |  |  |  |  |
Wholesale funding | — | 4,750 | 2,618 | 3,963 | 1,283 | 1,543 | 10,573 | 7,505 | 12,793 | 23,839 | 68,868
Deposits in financial institutions | 8,838 | 7,859 | 254 | 741 | 152 | 726 | 825 | 189 | 166 | 371 | 20,120
Deposits in other financial institutions and international agencies | 12,735 | 4,324 | 2,694 | 588 | 353 | 272 | 957 | 337 | 459 | 870 | 23,589
Customer deposits | 308,360 | 39,978 | 13,416 | 6,808 | 4,526 | 4,366 | 3,361 | 1,213 | 869 | 799 | 383,694
Security pledge funding | — | 41,239 | 5,301 | 1,643 | 1,192 | 368 | 11,304 | 28,510 | 3,740 | 1,516 | 94,812
Derivatives, net | — | (722) | 15 | (961) | (85) | 134 | (400) | (157) | (264) | (159) | (2,599)
(*) It includes the balance of the companies in the United States (see Notes 1.3, 3 and 21).
December 2019. Contractual maturities (Millions of Euros) (*)
| Demand | Up to 1 month | 1 to 3 months | 3 to 6 months | 6 to 9 months | 9 to 12 months | 1 to 2 years | 2 to 3 years | 3 to 5 years | Over 5 years | Total
ASSETS |  |  |  |  |  |  |  |  |  |  |
Cash, cash balances at central banks and other demand deposits | 20,954 | 20,654 | — | — | — | — | — | — | — | — | 41,608
Deposits in credit entities | — | 3,591 | 283 | 488 | 585 | 503 | 189 | 24 | 120 | 432 | 6,216
Deposits in other financial institutions | — | 1,336 | 1,120 | 796 | 589 | 991 | 1,420 | 1,072 | 672 | 2,089 | 10,084
Reverse repo, securities borrowing and margin lending | — | 21,612 | 3,858 | 2,287 | 561 | 808 | 4,121 | 1,838 | 411 | 803 | 36,299
Loans and advances | 157 | 22,015 | 25,056 | 24,994 | 15,777 | 16,404 | 42,165 | 35,917 | 54,772 | 122,098 | 359,354
Securities' portfolio settlement | — | 1,622 | 3,873 | 6,620 | 2,017 | 7,292 | 21,334 | 6,115 | 13,240 | 46,022 | 108,136
(*) It includes the balance of the companies in the United States (see Notes 1.3, 3 and 21).
December 2019. Contractual maturities (Millions of Euros) (*)
| Demand | Up to 1 month | 1 to 3 months | 3 to 6 months | 6 to 9 months | 9 to 12 months | 1 to 2 years | 2 to 3 years | 3 to 5 years | Over 5 years | Total
LIABILITIES |  |  |  |  |  |  |  |  |  |  |
Wholesale funding | 1 | 1,393 | 1,714 | 4,208 | 1,645 | 4,386 | 8,328 | 10,608 | 10,803 | 27,840 | 70,927
Deposits in financial institutions | 7,377 | 7,608 | 493 | 1,122 | 172 | 1,514 | 386 | 614 | 206 | 510 | 20,004
Deposits in other financial institutions and international agencies | 10,177 | 3,859 | 867 | 381 | 367 | 257 | 982 | 503 | 499 | 952 | 18,843
Customer deposits | 271,638 | 43,577 | 18,550 | 10,013 | 7,266 | 6,605 | 3,717 | 2,062 | 854 | 1,039 | 365,321
Security pledge funding | — | 45,135 | 3,202 | 15,801 | 1,456 | 653 | 3,393 | 7,206 | 759 | 1,308 | 78,914
Derivatives, net | — | (66) | (25) | 29 | (11) | 1,097 | (830) | (278) | (333) | (420) | (838)
(*) I t includes the balance of the companies in the United States (see Notes 1.3, 3 and 21).
Encumbered and unencumbered asstes [Table Text Block] | As of December 31, 2021, 2020 and 2019, the encumbered (those provided as collateral for certain liabilities) and unencumbered assets are broken down as follows:
Encumbered and unencumbered assets (Millions of Euros)
| Encumbered assets | Unencumbered assets
| Book value | Fair value | Book value | Fair value
| 2021 | 2020 | 2019 | 2021 | 2020 | 2019 | 2021 | 2020 | 2019 | 2021 | 2020 | 2019
Assets | 114,336 | 121,999 | 101,792 |  |  |  | 548,548 | 614,260 | 596,898 |  |  |
Equity instruments | 307 | 2,134 | 3,526 | 307 | 2,134 | 3,526 | 22,280 | 14,556 | 12,113 | 22,280 | 14,556 | 12,113
Debt securities | 31,557 | 29,379 | 29,630 | 29,527 | 26,112 | 29,567 | 89,307 | 100,108 | 95,611 | 89,307 | 100,108 | 95,611
Loans and advances and other assets | 82,472 | 90,486 | 68,636 |  |  |  | 436,962 | 499,595 | 489,174 |  |  |
Collateral pledges received [Table Text Block] | As of December 31, 2021, 2020 and 2019, collateral pledges received mainly due to repurchase agreements and securities lending, and those which could be committed in order to obtain funding are provided below:
Collateral received (Millions of Euros)
| Fair value of encumbered collateral received or own debt securities issued | Fair value of collateral received or own debt securities issued available for encumbrance | Fair value of collateral received or own debt securities issued not available for encumbrance
| 2021 | 2020 | 2019 | 2021 | 2020 | 2019 | 2021 | 2020 | 2019
Collateral received | 40,905 | 30,723 | 38,496 | 17,029 | 8,652 | 9,208 | 1,719 | 1,071 | 48
Equity instruments | 289 | 239 | 65 | 265 | 204 | 70 | — | — | —
Debt securities | 40,616 | 30,484 | 38,431 | 16,764 | 8,448 | 9,130 | 1,719 | 1,071 | 38
Loans and advances and other assets | — | — | — | — | — | 8 | — | — | 10
Own debt securities issued other than own covered bonds or ABSs | — | 3 | — | 50 | 94 | 82 | — | — | —
Sources of encumbrance [Table Text Block] | As of December 31, 2021, 2020 and 2019, financial liabilities issued related to encumbered assets in financial transactions as well as their book value were as follows:
Sources of encumbrance (Millions of Euros)
| Matching liabilities, contingent liabilities or securities lent | Assets, collateral received and own debt securities issued other than covered bonds and ABSs encumbered
| 2021 | 2020 | 2019 | 2021 | 2020 | 2019
Book value of financial liabilities | 137,242 | 131,352 | 124,252 | 151,275 | 147,523 | 135,500
Derivatives | 15,368 | 16,611 | 19,066 | 15,191 | 16,348 | 20,004
Deposits | 109,311 | 98,668 | 87,906 | 120,957 | 111,726 | 94,240
Outstanding subordinated debt | 12,563 | 16,073 | 17,280 | 15,127 | 19,449 | 21,256
Other sources | 620 | 653 | 449 | 3,966 | 5,202 | 4,788

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