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Note 14 | 12 Months Ended
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Dec. 31, 2022
Financial Assets At Amortised Cost [Abstract] |
Disclosure of financial assets at amortised cost [Text Block] | Financial assets at amortized costBreakdown of the balance The breakdown of the balance under this heading in the consolidated balance sheets, according to the nature of the financial instrument, is as follows:
Financial assets at amortized cost (Millions of Euros)
| Notes | 2022 | 2021 | 2020
Debt securities |  | 43,606 | 34,781 | 35,737
Central banks |  | 21 | 15 | —
Government |  | 40,389 | 32,130 | 28,727
Credit institutions |  | 1,177 | 817 | 783
Other financial corporations |  | 857 | 525 | 5,027
Non-financial corporations |  | 1,162 | 1,295 | 1,200
Loans and advances to central banks |  | 4,401 | 5,681 | 6,209
Loans and advances to credit institutions |  | 16,031 | 13,276 | 14,575
Reverse repurchase agreements |  | 5,251 | 2,788 | 1,914
Other loans and advances |  | 10,780 | 10,488 | 12,661
Loans and advances to customers | 7.2.2 | 358,023 | 318,939 | 311,147
Government |  | 20,892 | 19,682 | 19,391
Other financial corporations |  | 12,765 | 9,804 | 9,817
Non-financial corporations |  | 165,510 | 140,993 | 136,424
Other |  | 158,855 | 148,461 | 145,515
Total | 8.1 | 422,061 | 372,676 | 367,668
Of which: impaired assets of loans and advances to customers | 7.2.2 | 13,493 | 14,657 | 14,672
Of which: loss allowances of loans and advances | 7.2.5 | (11,291) | (11,142) | (12,141)
Of which: loss allowances of debt securities |  | (93) | (52) | (48)
During financial years 2022, 2021 and 2020, there have been no significant reclassifications from the heading “Financial assets at amortized cost” to other headings or from other headings to “Financial assets at amortized cost”. Debt securities The breakdown of the balance under the heading “Debt securities” in the consolidated balance sheets, according to the issuer of the debt securities, is as follows:
Financial assets at amortized cost. Debt securities. (Millions of Euros)
| 2022 | 2021 | 2020
| Amortized cost | Unrealized gains | Unrealized losses | Fair value | Amortized cost | Unrealized gains | Unrealized losses | Fair value | Amortized cost | Unrealized gains | Unrealized losses | Fair value
Domestic debt securities |  |  |  |  |  |  |  |  |  |  |  |
Government and other government agencies | 18,397 | 10 | (1,330) | 17,077 | 17,693 | 1,326 | (7) | 19,013 | 13,656 | 1,212 | — | 14,868
Central banks | — | — | — | — | — | — | — | — | — | — | — | —
Credit institutions | — | — | — | — | — | — | — | — | — | — | — | —
Other issuers | 144 | 1 | (18) | 127 | 337 | 10 | (6) | 341 | 4,835 | 59 | (7) | 4,887
Subtotal | 18,541 | 11 | (1,348) | 17,204 | 18,031 | 1,336 | (13) | 19,353 | 18,492 | 1,271 | (7) | 19,756
Foreign debt securities |  |  |  |  |  |  |  |  |  |  |  |
Mexico | 10,743 | — | — | 10,743 | 8,464 | 182 | (138) | 8,508 | 7,771 | 534 | (16) | 8,289
Government and other government agencies | 9,806 | — | — | 9,806 | 7,669 | 170 | (131) | 7,708 | 6,963 | 479 | — | 7,442
Central banks | — | — | — | — | — | — | — | — | — | — | — | —
Credit institutions | 745 | — | — | 745 | 614 | 11 | — | 625 | 632 | 55 | — | 687
Other issuers | 192 | — | — | 192 | 181 | 1 | (7) | 175 | 176 | — | (16) | 160
The United States | 2,412 | — | (10) | 2,402 | 93 | — | — | 93 | 52 | — | (26) | 26
Government and other government agencies | 2,159 | — | (5) | 2,154 | 10 | — | — | 10 | 14 | — | — | 14
Central banks | — | — | — | — | — | — | — | — | — | — | — | —
Credit institutions | 28 | — | (2) | 27 | 26 | — | — | 26 | 23 | — | (16) | 7
Other issuers | 224 | — | (3) | 221 | 57 | — | — | 57 | 15 | — | (10) | 5
Turkey | 5,332 | — | — | 5,332 | 2,634 | 143 | (95) | 2,682 | 3,628 | 95 | (25) | 3,698
Government and other government agencies | 5,325 | — | — | 5,325 | 2,628 | 143 | (95) | 2,676 | 3,621 | 95 | (25) | 3,691
Central banks | — | — | — | — | — | — | — | — | — | — | — | —
Credit institutions | 6 | — | — | 6 | 5 | — | — | 5 | 6 | — | — | 6
Other issuers | — | — | — | — | — | — | — | — | 1 | — | — | 1
Other countries | 6,578 | 44 | (343) | 6,280 | 5,559 | 289 | (37) | 5,812 | 5,795 | 505 | (1) | 6,299
Other foreign governments and other government agency | 4,701 | 32 | (311) | 4,423 | 4,144 | 257 | (28) | 4,374 | 4,473 | 467 | (1) | 4,939
Central banks | 21 | — | (1) | 21 | — | — | — | — | — | — | — | —
Credit institutions | 397 | 2 | (11) | 389 | 171 | — | — | 171 | 122 | — | — | 122
Other issuers | 1,458 | 10 | (21) | 1,448 | 1,243 | 32 | (9) | 1,267 | 1,200 | 38 | — | 1,238
Subtotal | 25,065 | 45 | (353) | 24,757 | 16,750 | 614 | (270) | 17,094 | 17,245 | 1,134 | (68) | 18,311
Total | 43,606 | 56 | (1,701) | 41,961 | 34,781 | 1,950 | (284) | 36,447 | 35,737 | 2,405 | (75) | 38,067
As of December 31, 2022, 2021 and 2020, the distribution according to the credit quality (ratings) of the issuers of debt securities classified as financial assets at amortized cost, was as follows:
Debt securities by rating
| 2022 | 2021 | 2020
| Carrying amount (Millions of Euros) | % | Carrying amount (Millions of Euros) | % | Carrying amount (Millions of Euros) | %
AAA | 3,068 | 7.0 | % | 143 | 0.4 | % | 151 | 0.4 | %
AA+ | 217 | 0.5 | % | 77 | 0.2 | % | 74 | 0.2 | %
AA | 86 | 0.2 | % | 76 | 0.2 | % | 64 | 0.2 | %
AA- | 108 | 0.2 | % | 69 | 0.2 | % | 48 | 0.1 | %
A+ | 13 | — | % | 62 | 0.2 | % | 42 | — | %
A | 592 | 1.4 | % | 619 | 1.8 | % | 590 | 1.7 | %
A- | 17,050 | 39.1 | % | 16,312 | 46.9 | % | 16,736 | 46.8 | %
BBB+ | 11,037 | 25.3 | % | 9,336 | 26.8 | % | 7,919 | 22.2 | %
BBB | 4,265 | 9.8 | % | 3,853 | 11.1 | % | 942 | 2.6 | %
BBB- | 535 | 1.2 | % | 527 | 1.5 | % | 4,499 | 12.6 | %
BB+ or below | 5,967 | 13.7 | % | 3,120 | 9.0 | % | 3,928 | 11.0 | %
Unclassified | 667 | 1.5 | % | 587 | 1.7 | % | 743 | 2.1 | %
Total | 43,606 | 100.0 | % | 34,781 | 100.0 | % | 35,737 | 100.0 | %
Loans and advances to customers The breakdown of the balance under this heading in the consolidated balance sheets, according to their nature, is as follows:
Loans and advances to customers (Millions of Euros)
| 2022 | 2021 | 2020
On demand and short notice | 4,101 | 3,161 | 2,835
Credit card debt | 18,898 | 14,030 | 13,093
Trade receivables | 25,987 | 19,524 | 15,544
Finance leases | 8,571 | 7,911 | 7,650
Reverse repurchase agreements | 102 | 23 | 71
Other term loans | 294,059 | 268,047 | 267,031
Advances that are not loans | 6,305 | 6,243 | 4,924
Total | 358,023 | 318,939 | 311,147
The heading “Financial assets at amortized cost – Loans and advances to customers” in the consolidated balance sheets also includes certain secured loans that, pursuant to the Mortgage Market Act, are linked to long-term mortgage covered bonds. The following table sets forth a breakdown of the gross carrying amount "Loans and advances to customers" with maturity greater than one year by fixed and variable rate as of December 31, 2022, 2021 and 2020:
Loans and advances maturing in more than one year by fixed and variable rate (Millions of Euros)
| 2022 | 2021 | 2020
| Domestic | Foreign | Total | Domestic | Foreign | Total | Domestic | Foreign | Total
Fixed rate | 59,394 | 67,874 | 127,269 | 56,756 | 62,228 | 118,984 | 46,104 | 66,444 | 112,548
Variable rate | 69,647 | 53,440 | 123,087 | 75,544 | 44,237 | 119,781 | 86,710 | 41,452 | 128,162
Total | 129,042 | 121,314 | 250,356 | 132,300 | 106,465 | 238,765 | 132,814 | 107,895 | 240,710
As of December 31, 2022, 2021 and 2020, 51%, 50% and 47%, respectively, of "Loans and advances to customers" with maturity greater than one year have fixed-interest rates and 49%, 50% and 53%, respectively, have variable interest rates. This heading also includes some loans that have been securitized. The balances recognized in the consolidated balance sheets corresponding to these securitized loans are as follows:
Securitized loans (Millions of Euros)
| 2022 | 2021 | 2020
Securitized mortgage assets | 23,290 | 23,695 | 23,953
Other securitized assets | 5,495 | 6,547 | 6,144
Total | 28,784 | 30,242 | 30,098

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