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Note 15 (Tables) | 12 Months Ended
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Dec. 31, 2021
Hedging derivatives and fair value changes of the hedged items in portfolio hedge of interest rate risk [Abstract] |
Derivatives Hedge accounting and fair value changes of the hedged items in portfolio hedge of interest rate risk [Table Text Block] | The balance of these headings in the accompanying consolidated balance sheets is as follows:
Derivatives – Hedge accounting and fair value changes of the hedged items in portfolio hedge of interest rate risk (Millions of Euros)
|  | 2021 | 2020 | 2019 |  |  |  |  |  |
ASSETS |  |  |  |  |  |  |  |  |  |
Derivatives - Hedge accounting |  | 1,805 | 1,991 | 1,729 |  |  |  |  |  |
Fair value changes of the hedged items in portfolio hedges of interest rate risk |  | 5 | 51 | 28 |  |  |  |  |  |
LIABILITIES |  |  |  |  |  |  |  |  |  |
Derivatives - Hedge accounting |  | 2,626 | 2,318 | 2,233 |  |  |  |  |  |
Fair value changes of the hedged items in portfolio hedges of interest rate risk |  | — | — | — |  |  |  |  |  |
Derivatives Hedge accounting breakdown by type of risk and type of hedge [Table Text Block] | The details of the net positions by hedged risk of the fair value of the hedging derivatives recognized in the accompanying consolidated balance sheets are as follows:
Derivatives - Hedge accounting. Breakdown by type of risk and type of hedge (Millions of Euros)
| 2021 | 2020 | 2019
| Assets | Liabilities | Assets | Liabilities | Assets | Liabilities
Interest rate | 697 | 322 | 989 | 525 | 920 | 488
OTC | 697 | 322 | 989 | 525 | 920 | 488
Organized market | — | — | — | — | — | —
Equity | — | — | — | — | — | 3
OTC | — | — | — | — | — | 3
Organized market | — | — | — | — | — | —
Foreign exchange and gold | 463 | 135 | 435 | 350 | 420 | 316
OTC | 463 | 135 | 435 | 350 | 420 | 316
Organized market | — | — | — | — | — | —
Credit | — | — | — | — | — | —
Commodities | — | — | — | — | — | —
Other | — | — | — | — | — | —
FAIR VALUE HEDGES | 1,160 | 457 | 1,424 | 874 | 1,341 | 808
Interest rate | 228 | 1,786 | 154 | 1,055 | 224 | 850
OTC | 226 | 1,786 | 154 | 1,041 | 224 | 839
Organized market | 2 | — | — | 15 | — | 11
Equity | — | — | — | — | — | —
Foreign exchange and gold | 180 | 79 | 225 | 55 | 115 | 18
OTC | 180 | 79 | 225 | 50 | 115 | 18
Organized market | — | — | — | 5 | — | —
Credit | — | — | — | — | — | —
Commodities | — | — | — | — | — | —
Other | — | — | — | — | — | —
CASH FLOW HEDGES | 408 | 1,865 | 379 | 1,111 | 339 | 868
HEDGE OF NET INVESTMENTS IN A FOREIGN OPERATION | 198 | 196 | 166 | 139 | 12 | 242
PORTFOLIO FAIR VALUE HEDGES OF INTEREST RATE RISK | 18 | 95 | 18 | 170 | 37 | 216
PORTFOLIO CASH FLOW HEDGES OF INTEREST RATE RISK | 21 | 13 | 3 | 23 | 1 | 99
DERIVATIVES-HEDGE ACCOUNTING | 1,805 | 2,626 | 1,991 | 2,318 | 1,729 | 2,233
of which: OTC - credit institutions | 1,454 | 2,248 | 1,718 | 1,965 | 1,423 | 1,787
of which: OTC - other financial corporations | 349 | 378 | 273 | 333 | 306 | 426
Hedged items in fair value hedges [Table Text Block] | Below there is a breakdown of the items covered by fair value hedges:
Hedged items in fair value hedges (Millions of Euros)
| Carrying amount | Hedge adjustments included in the carrying amount of assets/liabilities | Remaining adjustments for discontinued micro hedges including hedges of net positions | Hedged items in portfolio hedge of interest rate risk
| 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | 2021 | 2020
ASSETS |  |  |  |  |  |  |  |
Financial assets measured at fair value through other comprehensive income | 20,333 | 28,091 | (52) | (99) | 11 | 12 | — | —
Interest rate | 20,285 | 28,059 |  |  |  |  |  |
Other | 49 | 33 |  |  |  |  |  |
Financial assets measured at amortized cost | 8,273 | 11,177 | 168 | 386 | 5 | 3 | 1,997 | 2,500
Interest rate | 8,270 | 11,177 |  |  |  |  |  |
Foreign exchange and gold | 2 | — |  |  |  |  |  |
LIABILITIES |  |  |  |  |  |  |  |
Financial liabilities measured at amortized costs | 24,567 | 23,546 | (690) | (576) | — | 2 | — | —
Interest rate | 24,563 | 23,543 |  |  |  |  |  |
Foreign exchange and gold | 5 | 3 |  |  |  |  |  |
Calendar of the notional maturities of the hedging instruments [Table Text Block] | The following is the breakdown, by their notional maturities, of the hedging instruments as of December 31, 2021:
Calendar of the notional maturities of the hedging instruments (Millions of Euros)
|  | Up to 3 months |  | From 3 months to 1 year |  | From 1 to 5 years |  | More than 5 years |  | Total
FAIR VALUE HEDGES |  | 2,820 |  | 8,467 |  | 28,506 |  | 13,615 |  | 53,409
Of which: Interest rate |  | 2,807 |  | 8,360 |  | 27,239 |  | 13,615 |  | 52,021
CASH FLOW HEDGES |  | 195 |  | 3,346 |  | 36,410 |  | 4,381 |  | 44,332
Of which: Interest rate |  | — |  | 2,713 |  | 34,787 |  | 4,381 |  | 41,882
HEDGE OF NET INVESTMENTS IN A FOREIGN OPERATION |  | 2,241 |  | 2,617 |  | — |  | — |  | 4,857
PORTFOLIO FAIR VALUE HEDGES OF INTEREST RATE RISK |  | 175 |  | 647 |  | 1,258 |  | 1,108 |  | 3,187
PORTFOLIO CASH FLOW HEDGES OF INTEREST RATE RISK |  | 171 |  | 428 |  | 851 |  | 132 |  | 1,583
DERIVATIVES-HEDGE ACCOUNTING |  | 5,602 |  | 15,505 |  | 67,024 |  | 19,236 |  | 107,368
Hedges affected by the IBOR reform [Table Text Block] | The nominal amount of the hedging instruments for hedging relationships directly affected by the IBOR reform as of December 31, 2021 is the following:
Hedges affected by the IBOR reform (Millions of Euros)
|  | LIBOR USD |  | LIBOR GBP | Other | Total
Cash flow hedges |  | 1,056 |  | — | — | 1,056
Fair value hedges |  | 7,939 |  | 389 | 583 | 8,910

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