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Note 15 (Tables) | 12 Months Ended
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Dec. 31, 2022
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 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)
| 2022 | 2021 | 2020
ASSETS |  |  |
Derivatives - Hedge accounting | 1,891 | 1,805 | 1,991
Fair value changes of the hedged items in portfolio hedges of interest rate risk | (148) | 5 | 51
LIABILITIES |  |  |
Derivatives - Hedge accounting | 3,303 | 2,626 | 2,318
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 consolidated balance sheets are as follows:
Derivatives - Hedge accounting. Breakdown by type of risk and type of hedge (Millions of Euros)
| 2022 | 2021 | 2020
| Assets | Liabilities | Assets | Liabilities | Assets | Liabilities
Interest rate | 656 | 376 | 697 | 322 | 989 | 525
OTC | 656 | 376 | 697 | 322 | 989 | 525
Organized market | — | — | — | — | — | —
Equity | — | — | — | — | — | —
OTC | — | — | — | — | — | —
Organized market | — | — | — | — | — | —
Foreign exchange and gold | 259 | 83 | 463 | 135 | 435 | 350
OTC | 259 | 83 | 463 | 135 | 435 | 350
Organized market | — | — | — | — | — | —
Credit | — | — | — | — | — | —
Commodities | — | — | — | — | — | —
Other |  |  | — | — | — | —
FAIR VALUE HEDGES | 915 | 459 | 1,160 | 457 | 1,424 | 874
Interest rate | 470 | 2,763 | 228 | 1,786 | 154 | 1,055
OTC | 454 | 2,763 | 226 | 1,786 | 154 | 1,041
Organized market | 16 |  | 2 | — | — | 15
Equity | — | — | — | — | — | —
Foreign exchange and gold | 239 | 46 | 180 | 79 | 225 | 55
OTC | 239 | 45 | 180 | 79 | 225 | 50
Organized market | — | 1 | — | — | — | 5
Credit | — | — | — | — | — | —
Commodities | — | — | — | — | — | —
Other | — | — | — | — | — | —
CASH FLOW HEDGES | 708 | 2,809 | 408 | 1,865 | 379 | 1,111
HEDGE OF NET INVESTMENTS IN A FOREIGN OPERATION | 213 | 26 | 198 | 196 | 166 | 139
PORTFOLIO FAIR VALUE HEDGES OF INTEREST RATE RISK | 7 | 8 | 18 | 95 | 18 | 170
PORTFOLIO CASH FLOW HEDGES OF INTEREST RATE RISK | 48 | 1 | 21 | 13 | 3 | 23
DERIVATIVES-HEDGE ACCOUNTING | 1,891 | 3,303 | 1,805 | 2,626 | 1,991 | 2,318
of which: OTC - credit institutions | 1,577 | 2,911 | 1,454 | 2,248 | 1,718 | 1,965
of which: OTC - other financial corporations | 297 | 391 | 349 | 378 | 273 | 333
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 (1) | Remaining adjustments for discontinued micro hedges including hedges of net positions (1) | Hedged items in portfolio hedge of interest rate risk
| 2022 | 2021 | 2022 | 2021 | 2022 | 2021 | 2022 | 2021
ASSETS |  |  |  |  |  |  |  |
Financial assets measured at fair value through other comprehensive income | 13,994 | 20,333 | (1,024) | (52) | 2 | 11 | — | —
Interest rate | 13,602 | 20,285 |  |  |  |  |  |
Foreign exchange and gold | 327 | — |  |  |  |  |  |
Other | 66 | 49 |  |  |  |  |  |
Financial assets measured at amortized cost | 4,838 | 8,273 | (485) | 168 | 13 | 5 | 1,179 | 1,997
Interest rate | 4,835 | 8,270 |  |  |  |  |  |
Foreign exchange and gold | 3 | 2 |  |  |  |  |  |
LIABILITIES |  |  |  |  |  |  |  |
Financial liabilities measured at amortized costs | 34,898 | 24,567 | 1,299 | (690) | — | — | — | —
Interest rate | 34,894 | 24,563 |  |  |  |  |  |
Foreign exchange and gold | 5 | 5 |  |  |  |  |  |
(1) The balance of discontinued hedges is not significant.
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, 2022:
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 | 2,697 | 5,629 | 31,055 | 12,944 | 52,325
Of which: Interest rate | 2,697 | 5,524 | 29,031 | 12,944 | 50,196
CASH FLOW HEDGES | 4,495 | 17,900 | 27,732 | 3,051 | 53,178
Of which: Interest rate | 4,430 | 17,900 | 25,777 | 2,932 | 51,040
HEDGE OF NET INVESTMENTS IN A FOREIGN OPERATION | 5,292 | 4,738 | — | — | 10,031
PORTFOLIO FAIR VALUE HEDGES OF INTEREST RATE RISK | 87 | 27 | 1,609 | 1,067 | 2,790
PORTFOLIO CASH FLOW HEDGES OF INTEREST RATE RISK | 340 | 140 | 573 | 65 | 1,118
DERIVATIVES-HEDGE ACCOUNTING | 12,912 | 28,434 | 60,969 | 17,128 | 119,442
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, 2022 is the following:
Hedges affected by the IBOR reform (Millions of Euros)
| LIBOR USD | LIBOR GBP | Other | Total
Cash flow hedges | 1,061 | — | 316 | 1,377
Fair value hedges | 7,276 | 369 | 657 | 8,302

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