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Note 7 (Tables) | 12 Months Ended
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Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020
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, 2022 and 2021 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 2022 | — | 18,103 | 18,103 | 1,791,756 | 13,955 | 248,009 | 32,059 | 8.2 | %
December 2021 | 189 | 21,743 | 21,931 | 2,188,720 | 16,093 | 264,809 | 38,025 | 10.9 | %
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 in respect of which the deferral had been 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, 2022 and 2021 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
| 2022 | 2021 | 2022 | 2021 | 2022 | 2021 | 2022 | 2021
Group | — | 189 | 18,103 | 21,743 | 18,103 | 21,931 | 13,955 | 16,093
Households | — | 107 | 12,974 | 14,904 | 12,974 | 15,011 | 1,302 | 1,376
Of which: Mortgages | — | 97 | 9,542 | 10,195 | 9,542 | 10,291 | 5 | 6
SMEs | — | 44 | 2,725 | 3,950 | 2,725 | 3,994 | 9,672 | 10,911
Non-financial corporations | — | 37 | 2,315 | 2,766 | 2,315 | 2,803 | 2,964 | 3,788
Other | — | — | 90 | 122 | 90 | 122 | 18 | 18
Amount of financing with public guarantees of the Group by stages [Table Text Block] |
Amount of financing with public guarantees of the Group by stages (Millions of Euros)
| Stage 1 and 2 | Stage 3 | Total
| 2022 | 2021 | 2022 | 2021 | 2022 | 2021
Group | 13,109 | 15,526 | 847 | 568 | 13,955 | 16,093
Households | 1,240 | 1,347 | 62 | 29 | 1,302 | 1,376
Of which: Mortgages | 5 | 6 | — | — | 5 | 6
SMEs | 9,041 | 10,522 | 631 | 389 | 9,672 | 10,911
Non-financial corporations | 2,811 | 3,639 | 153 | 149 | 2,964 | 3,788
Other | 17 | 18 | — | — | 18 | 18
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 forecasts (favorable, base and unfavorable scenarios) of the Gross Domestic Product (GDP) growth, unemployment rate and House Price Index (HPI), for the most relevant countries where they represent a significant factor, carried out by BBVA Research, were used for the calculation of the ECL as of December 31, 2022:
Positive scenario of GDP, unemployment rate and HPI for the main geographies
| Spain | Mexico | Turkey
Date | GDP | Unemployment | HPI | GDP | Unemployment | HPI | GDP | Unemployment
2022 | 4.90 % | 12.27 % | (2.96) % | 2.97 % | 3.28 % | 0.84 % | 7.59 % | 10.00 %
2023 | 1.85 % | 11.35 % | (0.61) % | 1.45 % | 3.04 % | 4.23 % | 6.61 % | 8.85 %
2024 | 3.60 % | 9.75 % | 1.58 % | 2.33 % | 2.99 % | 3.07 % | (0.70) % | 10.76 %
2025 | 3.00 % | 8.36 % | 1.67 % | 1.91 % | 3.01 % | 4.18 % | 3.91 % | 11.78 %
2026 | 2.95 % | 7.02 % | 2.20 % | 1.78 % | 3.01 % | 3.26 % | 3.90 % | 11.81 %
2027 | 2.93 % | 5.87 % | 2.31 % | 1.81 % | 3.00 % | 4.39 % | 3.86 % | 11.81 %
| Peru | Argentina | Colombia
Date | GDP | Unemployment | GDP | Unemployment | GDP | Unemployment
2022 | 4.00 % | 7.67 % | 7.42 % | 11.97 % | 8.78 % | 11.41 %
2023 | 5.12 % | 7.28 % | 3.86 % | 9.39 % | 2.04 % | 12.20 %
2024 | 3.15 % | 6.79 % | (1.02) % | 7.68 % | 2.07 % | 12.77 %
2025 | 2.19 % | 6.60 % | 2.79 % | 6.77 % | 2.44 % | 12.65 %
2026 | 2.21 % | 6.52 % | 2.87 % | 6.89 % | 3.11 % | 12.15 %
2027 | 2.21 % | 6.49 % | 3.62 % | 6.81 % | 3.28 % | 10.47 %
| The estimate for the next five years of the following rates, used in the measurement of the expected loss as of December 31, 2021, 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
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 %
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
2022 | 4.61 % | 12.78 % | (3.50) % | 2.56 % | 3.32 % | 0.95 % | 5.47 % | 10.53 %
2023 | 1.20 % | 12.83 % | (2.41) % | 0.58 % | 3.20 % | 4.14 % | 3.02 % | 10.30 %
2024 | 3.37 % | 11.38 % | 0.55 % | 2.05 % | 3.17 % | 2.90 % | (1.50) % | 11.75 %
2025 | 2.98 % | 9.95 % | 1.30 % | 1.84 % | 3.15 % | 4.19 % | 3.78 % | 12.15 %
2026 | 2.95 % | 8.58 % | 1.74 % | 1.76 % | 3.14 % | 3.27 % | 3.78 % | 12.00 %
2027 | 2.93 % | 7.18 % | 1.86 % | 1.79 % | 3.13 % | 4.37 % | 3.74 % | 12.00 %
| Peru | Argentina | Colombia
Date | GDP | Unemployment | GDP | Unemployment | GDP | Unemployment
2022 | 2.69 % | 7.72 % | 5.00 % | 12.35 % | 8.05 % | 11.49 %
2023 | 2.54 % | 7.48 % | (0.50) % | 10.40 % | 0.72 % | 12.45 %
2024 | 2.42 % | 7.03 % | (2.04) % | 8.60 % | 1.81 % | 13.06 %
2025 | 2.19 % | 6.80 % | 2.70 % | 7.38 % | 2.44 % | 12.94 %
2026 | 2.21 % | 6.70 % | 2.73 % | 7.38 % | 3.10 % | 12.43 %
2027 | 2.21 % | 6.68 % | 3.49 % | 7.30 % | 3.28 % | 10.65 %
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 %
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
2022 | 4.33 % | 13.26 % | (4.13) % | 2.17 % | 3.37 % | 1.03 % | 3.35 % | 11.04 %
2023 | 0.58 % | 14.26 % | (4.02) % | (0.28) % | 3.38 % | 3.97 % | (0.79) % | 11.76 %
2024 | 3.15 % | 12.95 % | (0.40) % | 1.77 % | 3.35 % | 2.69 % | (2.49) % | 12.82 %
2025 | 2.93 % | 11.53 % | 0.79 % | 1.77 % | 3.30 % | 4.04 % | 3.70 % | 12.53 %
2026 | 2.91 % | 10.14 % | 0.99 % | 1.72 % | 3.27 % | 3.24 % | 3.70 % | 12.19 %
2027 | 2.89 % | 8.77 % | 1.10 % | 1.75 % | 3.26 % | 4.37 % | 3.66 % | 12.16 %
| Peru | Argentina | Colombia
Date | GDP | Unemployment | GDP | Unemployment | GDP | Unemployment
2022 | 1.39 % | 7.77 % | 2.66 % | 12.71 % | 7.30 % | 11.57 %
2023 | (0.05) % | 7.69 % | (5.10) % | 11.38 % | (0.59) % | 12.71 %
2024 | 1.67 % | 7.27 % | (3.29) % | 9.49 % | 1.50 % | 13.34 %
2025 | 2.19 % | 7.02 % | 2.59 % | 7.97 % | 2.44 % | 13.21 %
2026 | 2.21 % | 6.91 % | 2.57 % | 7.83 % | 3.10 % | 12.70 %
2027 | 2.21 % | 6.88 % | 3.33 % | 7.78 % | 3.28 % | 10.86 %
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 %
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. The variation in the expected loss for the Group and the main portfolios and geographical areas is shown below:
Expected loss variation as of December 31, 2022
| BBVA Group | Spain | Mexico |  | Turkey |
GDP | Total Portfolio | Retail | Companies | Fixed income | Total Portfolio | Companies | Retail | Total Portfolio | Companies | Retail | Total Portfolio | Companies | Retail
- 100 bps | 223 | 151 | 67 | 3 | 118 | 54 | 62 | 67 | 3 | 63 | 19 | 5 | 12
+100 bps | (195) | (135) | (55) | (3) | (95) | (42) | (52) | (63) | (3) | (60) | (18) | (5) | (11)
Housing price |  |  |  |  |  |  |  |  |  |  |  |  |
- 100 bps |  |  |  |  |  | 1 | 23 |  |  | 4 |  |  |
+100 bps |  |  |  |  |  | (1) | (22) |  |  | (3) |  |  |
Expected loss variation as of December 31, 2021
| BBVA Group | Spain | Mexico | Turkey
GDP | Total Portfolio | Retail | Companies | Fixed income | Total Portfolio | Companies | Retail | Total Portfolio | Companies | Retail | Total Portfolio | Companies | Retail
- 100 bps | 237 | 165 | 46 | 3 | 92 | 19 | 58 | 72 | 3 | 65 | 17 | 6 | 11
+100 bps | (224) | (158) | (44) | (3) | (88) | (18) | (57) | (69) | (4) | (61) | (17) | (6) | (10)
Housing price |  |  |  |  |  |  |  |  |  |  |  |  |
- 100 bps |  |  |  |  |  | 4 | 54 |  |  | 5 |  |  |
+100 bps |  |  |  |  |  | (4) | (53) |  |  | (5) |  |  |
Maximum credit risk exposure [Table Text Block] | BBVA Group’s credit risk exposure by headings in the consolidated balance sheets as of December 31, 2022, 2021 and 2020 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:
Maximum credit risk exposure (Millions of Euros)
| Notes | December 2022 | Stage 1 | Stage 2 | Stage 3
Financial assets held for trading |  | 70,763 |  |  |
Equity instruments | 10 | 4,404 |  |  |
Debt securities | 10 | 24,367 |  |  |
Loans and advances | 10 | 41,993 |  |  |
Non-trading financial assets mandatorily at fair value through profit or loss |  | 6,888 |  |  |
Equity instruments | 11 | 6,511 |  |  |
Debt securities | 11 | 129 |  |  |
Loans and advances | 11 | 247 |  |  |
Financial assets designated at fair value through profit or loss | 12 | 913 |  |  |
Derivatives (trading and hedging) |  | 53,101 |  |  |
Financial assets at fair value through other comprehensive income |  | 59,100 |  |  |
Equity instruments | 13 | 1,198 |  |  |
Debt securities |  | 57,876 | 57,028 | 822 | 26
Loans and advances to credit institutions | 13 | 26 | 26 | — | —
Financial assets at amortized cost |  | 433,445 | 386,048 | 33,873 | 13,523
Debt securities |  | 43,700 | 43,433 | 237 | 30
Loans and advances to central banks |  | 4,420 | 4,420 | — | —
Loans and advances to credit institutions |  | 16,066 | 15,997 | 69 |
Loans and advances to customers |  | 369,260 | 322,199 | 33,568 | 13,493
Total financial assets risk |  | 624,210 |  |  |
Total loan commitments and financial guarantees |  | 192,568 | 181,427 | 9,993 | 1,147
Loan commitments given | 33 | 136,920 | 130,459 | 6,283 | 177
Financial guarantees given | 33 | 16,511 | 15,214 | 1,015 | 281
Other commitments given | 33 | 39,137 | 35,753 | 2,695 | 689
Total maximum credit exposure |  | 816,778 |  |  |
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, accumulated allowances and carrying amount by geographical location [Table Text Block] | The breakdown by geographical area 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, 2022, 2021 and 2020 is shown below:
December 2022 (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 (1) | 214,126 | 187,037 | 19,621 | 7,468 | (4,860) | (518) | (759) | (3,583) | 209,266 | 186,519 | 18,862 | 3,885
Mexico | 74,252 | 66,971 | 5,342 | 1,939 | (2,496) | (955) | (475) | (1,066) | 71,756 | 66,017 | 4,866 | 873
Turkey (2) | 39,547 | 32,755 | 4,436 | 2,356 | (2,105) | (224) | (358) | (1,523) | 37,443 | 32,531 | 4,078 | 833
South America (3) | 40,288 | 34,401 | 4,166 | 1,721 | (1,768) | (318) | (345) | (1,105) | 38,519 | 34,083 | 3,821 | 615
Others | 1,047 | 1,035 | 3 | 9 | (8) | — | — | (7) | 1,039 | 1,035 | 3 | 2
Total (4) | 369,260 | 322,199 | 33,568 | 13,493 | (11,237) | (2,014) | (1,938) | (7,284) | 358,023 | 320,185 | 31,629 | 6,208
Of which: individual |  |  |  |  | (2,164) | (21) | (604) | (1,539) |  |  |  |
Of which: collective |  |  |  |  | (9,073) | (1,994) | (1,334) | (5,745) |  |  |  |
(1) Spain includes all countries where BBVA, S.A. operates. (2) Turkey includes all countries in which Garanti BBVA operates. (3) In South America, BBVA Group operates mainly in Argentina, Colombia, Peru and Uruguay. (4) 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, 2022, the remaining balance was €190 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 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 (1) | 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 (2) | 33,472 | 26,497 | 4,134 | 2,841 | (2,058) | (224) | (424) | (1,410) | 31,414 | 26,273 | 3,711 | 1,431
South America (3) | 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 (4) | 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) |  |  |  |
(1) Spain includes all countries where BBVA, S.A. operates. (2) Turkey includes all countries in which Garanti BBVA operates. (3) In South America, BBVA Group operates mainly in Argentina, Colombia, Peru and Uruguay. (4) 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 (1) | 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 (2) | 39,633 | 30,832 | 5,806 | 2,995 | (2,338) | (246) | (535) | (1,557) | 37,295 | 30,586 | 5,272 | 1,438
South America (3) | 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 (4) | 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) |  |  |  |
(1) Spain includes all countries where BBVA, S.A. operates. (2) Turkey includes all countries in which Garanti BBVA operates. (3) In South America, BBVA Group operates mainly in Argentina, Colombia, Peru and Uruguay. (4) 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. |  |
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, 2022, 2021 and 2020 is shown below:
December 2022 (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 | 20,922 | 20,582 | 302 | 38 | (30) | (8) | (11) | (11) | 20,892 | 20,574 | 291 | 27
Other financial corporations | 12,802 | 12,548 | 238 | 17 | (37) | (15) | (12) | (10) | 12,765 | 12,533 | 226 | 6
Non-financial corporations | 171,006 | 149,579 | 15,087 | 6,340 | (5,495) | (675) | (991) | (3,829) | 165,510 | 148,903 | 14,096 | 2,511
Households | 164,530 | 139,491 | 17,941 | 7,098 | (5,675) | (1,316) | (925) | (3,434) | 158,855 | 138,175 | 17,017 | 3,663
Loans and advances to customers | 369,260 | 322,199 | 33,568 | 13,493 | (11,237) | (2,014) | (1,938) | (7,284) | 358,023 | 320,185 | 31,629 | 6,208
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
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, 2022, 2021 and 2020 is shown below:
December 2022 (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 | — | 352 | 2,810 | 933 | 4,101 | 4,266
Credit card debt | — | 1 | — | 3 | 2,029 | 16,865 | 18,898 | 19,985
Commercial debtors |  | 1,021 | 24 | 370 | 24,510 | 85 | 26,011 | 26,254
Finance leases | — | 195 | — | 13 | 8,040 | 322 | 8,571 | 8,857
Reverse repurchase loans | 302 | — | 5,251 | 102 | — | — | 5,655 | 5,674
Other term loans | 3,802 | 19,438 | 4,009 | 7,995 | 126,949 | 139,925 | 302,118 | 311,553
Advances that are not loans | 296 | 232 | 6,772 | 3,930 | 1,333 | 811 | 13,374 | 13,430
LOANS AND ADVANCES | 4,401 | 20,892 | 16,057 | 12,765 | 165,670 | 158,943 | 378,728 | 390,019
By secured loans |  |  |  |  |  |  |  |
Of which: mortgage loans collateralized by immovable property |  | 297 | — | 337 | 23,970 | 95,056 | 119,659 | 122,719
Of which: other collateralized loans | 498 | 5,382 | 5,073 | 548 | 6,635 | 2,209 | 20,345 | 20,675
By purpose of the loan |  |  |  |  |  |  |  |
Of which: credit for consumption |  |  |  |  |  | 51,344 | 51,344 | 54,718
Of which: lending for house purchase |  |  |  |  |  | 95,249 | 95,249 | 96,716
By subordination |  |  |  |  |  |  |  |
Of which: project finance loans |  |  |  |  | 7,942 |  | 7,942 | 8,530
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
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, 2022, 2021 and 2020, 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 2022 | 13,493 | 2,537 | 849 | 3 | 52 | 984
December 2021 | 14,657 | 2,875 | 1,068 | 5 | 33 | 886
December 2020 | 14,678 | 2,717 | 789 | 18 | 52 | 575
Guarantees Received [Table Text Block] | The value of guarantees received as of December 31, 2022, 2021 and 2020, is the following:
Guarantees received (Millions of Euros) |  |  |
| 2022 | 2021 | 2020
Value of collateral | 125,963 | 117,362 | 116,900
Of which: guarantees normal risks under special monitoring | 12,826 | 11,768 | 11,296
Of which: guarantees non-performing risks | 3,440 | 3,981 | 3,577
Value of other guarantees | 40,050 | 48,680 | 47,012
Of which: guarantees normal risks under special monitoring | 4,963 | 7,404 | 4,045
Of which: guarantees non-performing risks | 984 | 886 | 575
Total value of guarantees received | 166,013 | 166,042 | 163,912
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, 2022:
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 of loans and advances to customers [Table Text Block] | The table below outlines the distribution of the gross carrying amount of loans and advances to customers, in percentage terms, of the BBVA Group, based on their probability of default within 12 months used in the calculation of the expected loss under IFRS 9, and their stages, as of December 31, 2022, 2021 and 2020:
Probability of default (basis points)
| 2022 | 2021 | 2020
| 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 | 5.1 | — | 5.8 | — | 4.0 | —
2 to 5 | 18.9 | 0.3 | 15.7 | 0.1 | 10.2 | 0.1
5 to 11 | 16.3 | 0.5 | 15.2 | 0.2 | 7.7 | 0.1
11 to 39 | 18.2 | 0.8 | 18.7 | 0.6 | 26.8 | 0.5
39 to 194 | 20.3 | 2.3 | 19.1 | 2.5 | 24.0 | 2.3
194 to 1,061 | 10.5 | 3.0 | 12.2 | 3.8 | 15.1 | 3.4
1,061 to 2,121 | 1.2 | 0.9 | 1.9 | 1.5 | 1.5 | 1.2
> 2,121 | 0.6 | 1.1 | 0.8 | 1.9 | 0.6 | 2.5
Total | 91.0 | 9.0 | 89.4 | 10.6 | 89.9 | 10.1
Probability of default of contingent risk and commitments [Table Text Block] | The table below outlines the distribution of the BBVA Group by probability of default within 12 months used in the calculation of the expected loss under IFRS 9, and by stages of the gross carrying amount of contingent risk and commitments, in percentage terms, as of December 31, 2022:
Probability of default (basis points)
| 2022 |  |
| Subject to 12 month ECL (stage 1) | Subject to lifetime ECL (stage 2) |  |  |  |
| % | % |  |  |  |
0 to 2 | 6.3 | 0.2 |  |  |  |
2 to 5 | 20.4 | 0.2 |  |  |  |
5 to 11 | 26.9 | 0.9 |  |  |  |
11 to 39 | 19.8 | 0.7 |  |  |  |
39 to 194 | 14.6 | 1.1 |  |  |  |
194 to 1,061 | 6.1 | 1.5 |  |  |  |
1,061 to 2,121 | 0.6 | 0.2 |  |  |  |
> 2,121 | 0.2 | 0.4 |  |  |  |
Total | 94.8 | 5.2 |  |  |  |
Impaired secured loans risks [Table Text Block] | The breakdown of loans and advances within financial assets at amortized cost by counterparties, including their respective gross carrying amount, impaired amount and accumulated impairment as of December 31, 2022, 2021 and 2020 is as follows:
December 2022 (Millions of Euros) |  |  |  |
| Gross carrying amount | Impaired loans and advances | Accumulated impairment | Impaired loans and advances as a % of the total
Central banks | 4,420 | — | (19) | — | %
General governments | 20,922 | 38 | (30) | 0.2 | %
Credit institutions | 16,066 | — | (35) | — | %
Other financial corporations | 12,802 | 17 | (37) | 0.1 | %
Non-financial corporations | 171,006 | 6,340 | (5,495) | 3.7 | %
Agriculture, forestry and fishing | 4,475 | 153 | (151) | 3.4 | %
Mining and quarrying | 5,006 | 179 | (105) | 3.6 | %
Manufacturing | 44,583 | 869 | (794) | 1.9 | %
Electricity, gas, steam and air conditioning supply | 15,344 | 650 | (534) | 4.2 | %
Water supply | 875 | 21 | (16) | 2.4 | %
Construction | 8,349 | 784 | (537) | 9.4 | %
Wholesale and retail trade | 30,974 | 1,184 | (945) | 3.8 | %
Transport and storage | 11,051 | 319 | (343) | 2.9 | %
Accommodation and food service activities | 8,003 | 451 | (329) | 5.6 | %
Information and communications | 7,498 | 113 | (47) | 1.5 | %
Financial and insurance activities | 7,446 | 200 | (188) | 2.7 | %
Real estate activities | 11,349 | 718 | (527) | 6.3 | %
Professional, scientific and technical activities | 3,948 | 169 | (151) | 4.3 | %
Administrative and support service activities | 4,021 | 180 | (124) | 4.5 | %
Public administration and defense; compulsory social security | 268 | 8 | (12) | 2.9 | %
Education | 556 | 35 | (29) | 6.4 | %
Human health services and social work activities | 2,108 | 138 | (53) | 6.6 | %
Arts, entertainment and recreation | 927 | 68 | (79) | 7.3 | %
Other services | 4,224 | 101 | (530) | 2.4 | %
Households | 164,530 | 7,098 | (5,675) | 4.3 | %
LOANS AND ADVANCES | 389,745 | 13,493 | (11,291) | 3.5 | %
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 | %
Changes in impaired financial assets and guarantees given [Table Text Block] | The changes during the years 2022, 2021 and 2020 of impaired financial assets and guarantees given are as follows:
Changes in impaired financial assets and guarantees given (Millions of Euros)
| 2022 | 2021 | 2020
Balance at the beginning | 15,467 | 15,478 | 16,770
Additions | 8,084 | 8,556 | 9,533
Decreases (1) | (5,742) | (4,555) | (5,024)
Net additions | 2,342 | 4,001 | 4,509
Amounts written-off | (2,771) | (3,613) | (3,603)
Exchange differences and other | (517) | (399) | (968)
Discontinued operations | — | — | (1,230)
Balance at the end | 14,521 | 15,467 | 15,478
(1) Reflects the total amount of impaired loans derecognized from the consolidated balance sheet throughout the period as a result of monetary recoveries as well as mortgage foreclosures and real estate assets received in lieu of payment. |  |
Changes in impaired financial assets written off from the balance sheet [Table Text Block] | The changes during the years 2022, 2021 and 2020 in financial assets derecognized from the consolidated balance sheet as their recovery is considered unlikely ("write-offs"), is shown below:
Changes in impaired financial assets written-off from the balance sheet (Millions of Euros)
| Notes | 2022 | 2021 | 2020
Balance at the beginning |  | 21,990 | 22,001 | 26,245
Companies held for sale (1) |  | — | — | (4,646)
Increase |  | 2,871 | 3,709 | 3,440
Decrease: |  | (2,431) | (3,605) | (2,715)
Re-financing or restructuring |  | (2) | (1) | (7)
Cash recovery | 47 | (390) | (423) | (339)
Foreclosed assets |  | (25) | (17) | (479)
Sales (2) |  | (1,498) | (2,437) | (1,223)
Debt forgiveness |  | (368) | (599) | (607)
Time-barred debt and other causes |  | (147) | (129) | (60)
Net exchange differences |  | 165 | (116) | (323)
Balance at the end |  | 22,595 | 21,990 | 22,001
(1) The balance of 2020 relates mainly to the Group companies included in the agreement for the sale of the U.S. business to PNC (see Notes 3 and 21). (2) 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 loss allowances during 2022, 2021 and 2020 are recorded on the consolidated balance sheet as of December 31, 2022, 2021 and 2020 in order to cover the estimated impairment or reversal of impairment on loans and advances measured at amortized cost.
Changes in gross accounting balances of loans and advances at amortized cost. Year 2022 (Millions of Euros)
| Stage 1 | Stage 2 | Stage 3 | Total
Balance at the beginning | 300,167 | 34,213 | 14,657 | 349,037
Transfers of financial assets: | (5,041) | 3,914 | 1,128 | —
Transfers from stage 1 to stage 2 | (12,726) | 12,726 | — | —
Transfers from stage 2 to stage 1 | 8,537 | (8,537) | — | —
Transfers to stage 3 | (1,941) | (1,831) | 3,773 | —
Transfers from stage 3 | 1,089 | 1,556 | (2,645) | —
Net annual origination of financial assets | 44,465 | (4,201) | 258 | 40,522
Becoming write-offs | (63) | (35) | (2,432) | (2,530)
Foreign exchange | 2,447 | 18 | (461) | 2,004
Modifications that do not result in derecognition | (2) | 29 | 113 | 140
Other | 643 | (301) | 231 | 573
Balance at the end | 342,616 | 33,636 | 13,493 | 389,745
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)
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)
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 allowances of loans and advances at amortized cost [Table Text Block] |
Changes in allowances of loans and advances at amortized cost. Year 2022 (Millions of Euros)
| Stage 1 | Stage 2 | Stage 3 | Total
Balance at the beginning | (1,990) | (2,091) | (7,061) | (11,142)
Transfers of financial assets: | 63 | 33 | (1,570) | (1,473)
Transfers from stage 1 to stage 2 | 110 | (397) | — | (287)
Transfers from stage 2 to stage 1 | (91) | 374 | — | 283
Transfers to stage 3 | 51 | 204 | (1,917) | (1,662)
Transfers from stage 3 | (7) | (148) | 347 | 193
Net annual origination of allowances | (406) | (273) | (663) | (1,342)
Becoming write-offs | 186 | 30 | 1,890 | 2,106
Foreign exchange | (87) | 248 | — | 161
Modifications that do not result in derecognition | — | 48 | (160) | (112)
Other | 168 | 64 | 279 | 511
Balance at the end | (2,065) | (1,942) | (7,284) | (11,291)
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
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
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)
Sensitivity to interest rate and credit spread analysis [Table Text Block] | The table below shows the profile of average structural interest rate risk and credit spread risk of the fixed income portfolio in the banking book classified as Hold to Collect & Sale (HtC&S) in terms of sensitivities of the main currencies for the BBVA Group in 2022:
Sensitivity to interest-rate and credit spread analysis. Year 2022 |
| Interest rate risk | Credit spread
| Impact on net interest income (1) | Impact on economic value (2) | Impact on economic value (2)
| 100 basis point increase | 100 basis point decrease (3) | 100 basis point increase | 100 basis point decrease (3) | 100 basis point increase
Euro | [1.5% , 3.5%] | [-1.5% , -0.5%] | [0.5% , 1.5%] | [-1.5% , -0.5%] | [-1.5% , -0.5%]
Mexican peso | [0.5% , 1.5%] | [-1.5% , -0.5%] | [-1.5% , -0.5%] | [0.5% , 1.5%] | [-0.5% , 0.5%]
U.S. dollar | [0.5% , 1.5%] | [-1.5% , -0.5%] | [0.5% , 1.5%] | [-1.5% , -0.5%] | [-0.5% , 0.5%]
Turkish lira | [-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 | [3.5% , 5.5%] | [-5.5% , -3.5%] | [0.5% , 1.5%] | [-1.5% , -0.5%] | [-3.5% , -1.5%]
(1) Percentage of "12 months" net interest income for the BBVA Group. (2) Percentage of CET1 (Fully Loaded) for BBVA Group (3) In Euro and Pound sterling (included in "Other"), negative interest rates scenarios are allowed up to plausible levels. |  |
Sensitivity to one percent of the average rate in the main currencies [Table Text Block] | For the years 2022, 2021 and 2020, 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 | 2022 | 2021 | 2020
Mexican peso | 19.1 | 14.0 | 4.9
Turkish lira | 3.5 | 4.7 | 4.5
Peruvian sol | 0.7 | 0.3 | 0.4
Chilean peso | 0.4 | 0.6 | 0.3
Colombian peso | 0.9 | 1.1 | 1.4
Argentine peso | 1.9 | 0.6 | 0.9
Hedging instruments affected by Ibor [Table Text Block] | Below is the BBVA Group's exposure to financial assets and liabilities maturing after the transition dates of these IBORs to their corresponding RFRs. The table shows, in the case of loans and advances, asset and liability debt instruments, deposits and commitments, their gross amounts and, in the case of derivatives, their notional value, in each case as of December 31, 2022:
Millions of Euros
| Loans & Advances | Debt Securities Assets | Debt Securities Issued (Liabilities) | Deposits | Derivatives (notional)
Synthetic LIBOR GBP and JPY | 76 | — | — | — | —
LIBOR USD with maturity > June 30, 2023 | 16,539 | 171 | 1,977 | 159 | 423,468
Total | 16,615 | 171 | 1,977 | 159 | 423,468
VaR by Risk factor [Table Text Block] | As of December 31, 2022, 2021 and 2020 the VaR was €29 million, €31 million and €28 million, respectively, with the following breakdown:
VaR by Risk Factor (Millions of Euros)
| Interest/Spread risk | Currency risk | Stock-market risk | Vega/Correlation risk | Diversification effect (1) | Total
2022 |  |  |  |  |  |
VaR average in the year | 33 | 8 | 3 | 7 | (23) | 27
VaR max in the year | 35 | 12 | 2 | 11 | (24) | 36
VaR min in the year | 25 | 10 | 2 | 11 | (28) | 19
End of period VaR | 32 | 13 | 7 | 5 | (28) | 29
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
(1) 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, 2022 is as follows:
Impact of the stress test (Millions of Euros)
0 | Europe | Mexico | Peru | Venezuela | Argentina | Colombia | Turkey
Expected shortfall | (86) | (42) | (7) | — | (8) | (4) | (22)
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, 2022, 2021 and 2020:
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 2022 |  |  |  |  |  |  |
Trading and hedging derivatives | 10 / 15 | 52,354 | 10,554 | 41,800 | 29,251 | 11,461 | 1,088
Reverse repurchase, securities borrowing and similar agreements |  | 47,111 | — | 47,111 | 47,217 | 970 | (1,077)
Total assets |  | 99,465 | 10,554 | 88,911 | 76,468 | 12,431 | 11
Trading and hedging derivatives | 10 / 15 | 51,767 | 10,554 | 41,213 | 31,063 | 9,498 | 651
Repurchase, securities lending and similar agreements |  | 54,382 | — | 54,382 | 53,439 | 586 | 357
Total liabilities |  | 106,149 | 10,554 | 95,594 | 84,502 | 10,084 | 1,008
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)
LtSCD by LMU [Table Text Block] | The performance of the indicators show that the funding structure remained steady during 2022, 2021 and 2020, in the sense that all LMU held self-funding levels with stable customer resources above the requirements.
LtSCD by LMU
| 2022 | 2021 | 2020
Group (average) | 96 % | 95 % | 95 %
BBVA, S.A. | 98 % | 98 % | 97 %
BBVA Mexico | 98 % | 93 % | 98 %
Garanti BBVA | 83 % | 81 % | 95 %
Other LMU | 96 % | 93 % | 86 %
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 201%, or 42 basis points above the required level.
LCR main LMU
0 | 2022 | 2021 | 2020
Group | 159 % | 165 % | 149 %
BBVA, S.A. | 186 % | 190 % | 173 %
BBVA Mexico | 199 % | 245 % | 196 %
Garanti BBVA | 185 % | 211 % | 183 %
Liquidity available by instrument [Table Text Block] | The table below shows the liquidity available by instrument as of December 31, 2022, 2021 and 2020 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
| 2022 | 2021 | 2020 | 2022 | 2021 | 2020 | 2022 | 2021 | 2020 | 2022 | 2021 | 2020
Cash and withdrawable central bank reserves | 48,271 | 35,258 | 39,330 | 12,865 | 12,146 | 8,930 | 6,731 | 8,179 | 6,153 | 5,265 | 6,469 | 6,831
Level 1 tradable assets | 33,081 | 37,272 | 48,858 | 13,974 | 13,881 | 9,205 | 9,165 | 5,549 | 7,019 | 7,836 | 6,036 | 6,237
Level 2A tradable assets | 3,450 | 5,234 | 5,119 | 47 | 74 | 106 | — | — | — | — | — | —
Level 2B tradable assets | 3,471 | 9,492 | 6,080 | 35 | 28 | 11 | — | — | — | 1 | 2 | —
Other tradable assets | 22,708 | 27,870 | 20,174 | 467 | 343 | 421 | 285 | 722 | 701 | 1,035 | 934 | 745
Non tradable assets eligible for central banks | — | — | — | — | — | — | — | — | — | — | — | —
Cumulated counterbalancing capacity | 110,981 | 115,127 | 119,560 | 27,388 | 26,472 | 18,672 | 16,181 | 14,449 | 13,873 | 14,136 | 13,440 | 13,814
NSFR main LMU [Table Text Block] | The NSFR of BBVA Group and its main LMU at December 31, 2022, 2021 and 2020, was the following:
NSFR main LMU
| 2022 | 2021 | 2020 ⁽¹⁾
Group | 135 % | 135 % | 127 %
BBVA, S.A. | 125 % | 126 % | 121 %
BBVA Mexico | 143 % | 149 % | 138 %
Garanti BBVA | 166 % | 162 % | 154 %
(1) 2020 Ratio calculated based on the Basel requirements. |  |
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, 2022, 2021 and 2020:
December 2022. 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 | 9,227 | 66,497 | — | — | — | — | — | — | — | — | 75,724
Deposits in credit entities | — | 3,870 | 319 | 433 | 434 | 468 | 242 | 183 | 6 | 83 | 6,040
Deposits in other financial institutions | 3 | 2,199 | 1,012 | 746 | 516 | 344 | 971 | 816 | 551 | 830 | 7,988
Reverse repo, securities borrowing and margin lending | — | 31,049 | 5,743 | 3,368 | 1,432 | 1,127 | 4,582 | 1,354 | 2,400 | 289 | 51,343
Loans and advances | 99 | 24,622 | 32,009 | 25,622 | 14,827 | 16,766 | 41,049 | 32,510 | 43,828 | 96,201 | 327,534
Securities' portfolio settlement | 1 | 4,031 | 4,107 | 8,200 | 4,305 | 4,746 | 18,417 | 8,744 | 23,307 | 31,480 | 107,338
December 2022. 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 | — | 1,841 | 4,434 | 1,050 | 3,148 | 2,017 | 6,318 | 9,423 | 13,282 | 18,145 | 59,658
Deposits from financial institutions | 2,176 | 7,885 | 628 | 806 | 56 | 694 | 648 | 211 | 396 | 399 | 13,899
Deposits from other financial institutions and international agencies | 7,392 | 5,760 | 1,465 | 464 | 379 | 758 | 700 | 293 | 594 | 727 | 18,532
Customer deposits | 302,667 | 38,951 | 18,542 | 6,776 | 2,575 | 2,870 | 1,476 | 1,276 | 798 | 273 | 376,203
Security pledge funding | — | 51,638 | 14,543 | 17,736 | 866 | 1,503 | 8,136 | 1,524 | 3,493 | 575 | 100,013
Derivatives, net | — | (253) | 24 | (1,010) | (23) | 175 | 40 | (153) | (466) | (3,717) | (5,383)
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 from financial institutions | 1,936 | 4,257 | 415 | 825 | 183 | 924 | 496 | 146 | 146 | 579 | 9,907
Deposits from 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) ⁽¹⁾
| 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
(1) I t includes the balance of the companies in the United States (see Notes 3 and 21).
December 2020. Contractual maturities (Millions of Euros) ⁽¹⁾
| 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 from financial institutions | 8,838 | 7,859 | 254 | 741 | 152 | 726 | 825 | 189 | 166 | 371 | 20,120
Deposits from 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)
(1) I t includes the balance of the companies in the United States (see Notes 3 and 21) |  |
Encumbered and unencumbered asstes [Table Text Block] | As of December 31, 2022, 2021 and 2020, 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
| 2022 | 2021 | 2020 | 2022 | 2021 | 2020 |  | 2022 | 2021 | 2020 | 2022 | 2021 | 2020
Assets | 92,916 | 114,336 | 121,999 |  |  |  |  | 620,257 | 548,548 | 614,260 |  |  |
Equity instruments | 819 | 307 | 2,134 | 819 | 307 | 2,134 |  | 11,293 | 22,280 | 14,556 | 11,293 | 22,280 | 14,556
Debt securities | 33,533 | 31,557 | 29,379 | 32,291 | 29,527 | 26,112 |  | 93,238 | 89,307 | 100,108 | 93,238 | 89,307 | 100,108
Loans and advances and other assets | 58,563 | 82,472 | 90,486 |  |  |  |  | 515,726 | 436,962 | 499,595 |  |  |
Collateral pledges received [Table Text Block] | As of December 31, 2022, 2021 and 2020, 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
| 2022 | 2021 | 2020 |  | 2022 | 2021 | 2020 |  | 2022 | 2021 | 2020
Collateral received | 40,701 | 40,905 | 30,723 |  | 9,415 | 17,029 | 8,652 |  | 1,279 | 1,719 | 1,071
Equity instruments | 323 | 289 | 239 |  | 759 | 265 | 204 |  | — | — | —
Debt securities | 40,378 | 40,616 | 30,484 |  | 8,656 | 16,764 | 8,448 |  | 1,279 | 1,719 | 1,071
Loans and advances and other assets | — | — | — |  | — | — | — |  | — | — | —
Own debt securities issued other than own covered bonds or ABSs | — | — | 3 |  | 92 | 50 | 94 |  | — | — | —
Sources of encumbrance [Table Text Block] | As of December 31, 2022, 2021 and 2020, 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
| 2022 | 2021 | 2020 |  | 2022 | 2021 | 2020
Book value of financial liabilities | 122,400 | 137,242 | 131,352 |  | 128,628 | 151,275 | 147,523
Derivatives | 15,950 | 15,368 | 16,611 |  | 16,699 | 15,191 | 16,348
Deposits | 95,728 | 109,311 | 98,668 |  | 99,077 | 120,957 | 111,726
Outstanding subordinated debt | 10,722 | 12,563 | 16,073 |  | 12,852 | 15,127 | 19,449
Other sources | 731 | 620 | 653 |  | 4,989 | 3,966 | 5,202

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- Definition Abridged scale to classify BBVA group outstanding risk + References No definition available. + Details
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