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Note 7 | 6 Months Ended
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Jun. 30, 2023
Fair value of financial instruments [Abstract] |
Disclosure of fair value of financial instruments [text block] | Fair value of financial instruments The criteria and valuation methods used to calculate the fair value of financial assets as of June 30, 2023 do not differ significantly from those included in Note 8 from the consolidated financial statements for the year ended December 31, 2022. The techniques and unobservable inputs used for the valuation of the financial instruments classified in the fair value hierarchy as Level 3, do not significantly differ from those detailed in Note 8 of the consolidated financial statements for the year 2022. The effect on the consolidated income statements and on the consolidated equity, resulting from changing the main assumptions used in the valuation of Level 3 financial instruments for other reasonably possible assumptions, does not differ significantly from that detailed in Note 8 of the consolidated financial statements for the year 2022. 7.1.Fair value of financial instruments recognized at fair value according to valuation method The fair value of the Group's financial instruments from the attached condensed consolidated balance sheets is presented below, broken down according to the valuation method used to determine their fair value, and their respective book value as of June 30, 2023 and December 31, 2022:
Fair value of financial instruments by levels. June 2023 (Millions of Euros)
| Notes | Book value | Fair value
| Level 1 | Level 2 | Level 3
ASSETS |  |  |  |  |
Financial assets held for trading | 9 | 141,721 | 31,765 | 108,120 | 1,836
Derivatives |  | 39,346 | 1,014 | 38,057 | 274
Equity instruments |  | 4,247 | 4,194 | — | 53
Debt securities |  | 33,999 | 25,242 | 8,590 | 167
Loans and advances |  | 64,129 | 1,315 | 61,473 | 1,341
Non-trading financial assets mandatorily at fair value through profit or loss | 10 | 8,019 | 6,723 | 360 | 936
Equity instruments |  | 7,432 | 6,450 | 62 | 920
Debt securities |  | 313 | — | 298 | 15
Loans and advances to customers |  | 274 | 273 | — | 1
Financial assets designated at fair value through profit or loss | 11 | 1,004 | 984 | 20 | —
Debt securities |  | 1,004 | 984 | 20 | —
Financial assets at fair value through other comprehensive income | 12 | 63,979 | 51,191 | 12,276 | 513
Equity instruments |  | 1,254 | 1,078 | 67 | 108
Debt securities |  | 62,700 | 50,087 | 12,209 | 405
Loans and advances to credit institutions |  | 26 | 26 | — | —
Derivatives – Hedge accounting | 14 | 1,888 | — | 1,888 | —
LIABILITIES |  |  |  |  |
Financial liabilities held for trading | 9 | 127,332 | 25,302 | 100,825 | 1,205
Trading derivatives |  | 38,003 | 678 | 36,565 | 760
Short positions |  | 17,107 | 17,077 | 30 | —
Deposits |  | 72,222 | 7,548 | 64,229 | 444
Financial liabilities designated at fair value through profit or loss | 11 | 12,577 | — | 10,660 | 1,917
Deposits from credit institutions |  | 111 | — | 111 | —
Customer deposits |  | 698 | — | 698 | —
Debt certificates issued |  | 3,642 | — | 1,725 | 1,917
Other financial liabilities |  | 8,126 | — | 8,126 | —
Derivatives – Hedge accounting | 14 | 3,486 | — | 3,486 | —
Fair value of financial Instruments by levels. December 2022 (Millions of Euros)
| Notes | Book value | Fair value
| Level 1 | Level 2 | Level 3
ASSETS |  |  |  |  |
Financial assets held for trading | 9 | 110,671 | 22,710 | 85,636 | 2,325
Derivatives |  | 39,908 | 795 | 38,140 | 974
Equity instruments |  | 4,404 | 4,369 | — | 34
Debt securities |  | 24,367 | 16,284 | 7,934 | 148
Loans and advances |  | 41,993 | 1,262 | 39,562 | 1,169
Non-trading financial assets mandatorily at fair value through profit or loss | 10 | 6,888 | 5,720 | 151 | 1,017
Equity instruments |  | 6,511 | 5,457 | 40 | 1,014
Debt securities |  | 129 | 19 | 111 | —
Loans and advances to customers |  | 247 | 245 | — | 3
Financial assets designated at fair value through profit or loss | 11 | 913 | 913 | — | —
Debt securities |  | 913 | 913 | — | —
Financial assets at fair value through other comprehensive income | 12 | 65,374 | 53,248 | 11,537 | 589
Equity instruments |  | 1,198 | 1,040 | 58 | 100
Debt securities |  | 64,150 | 52,182 | 11,479 | 489
Loans and advances to credit institutions |  | 26 | 26 | — | —
Derivatives – Hedge accounting | 14 | 1,891 | 4 | 1,887 | —
LIABILITIES |  |  |  |  |
Financial liabilities held for trading | 9 | 95,611 | 20,611 | 73,871 | 1,129
Trading derivatives |  | 37,909 | 746 | 36,161 | 1,002
Short positions |  | 13,487 | 13,354 | 133 | —
Deposits |  | 44,215 | 6,511 | 37,577 | 127
Financial liabilities designated at fair value through profit or loss | 11 | 10,580 | — | 8,990 | 1,590
Deposits from credit institutions |  | — | — | — | —
Customer deposits |  | 700 | — | 700 | —
Debt certificates issued |  | 3,288 | — | 1,698 | 1,590
Other financial liabilities |  | 6,592 | — | 6,592 | —
Derivatives – Hedge accounting | 14 | 3,303 | 100 | 3,179 | 25
7.2.Fair value of financial instruments recognized at amortized cost according to valuation method Below is shown the fair value of the Group's financial instruments from the attached condensed consolidated balance sheets recognized at amortized cost, broken down according to the valuation method used to determine their fair value, and their respective book value as of June 30, 2023 and December 31, 2022:
Fair value of financial instruments recognized at amortized cost by levels. June 2023 (Millions of Euros)
| Notes | Book value | Fair value
| Total | Level 1 | Level 2 | Level 3
ASSETS |  |  |  |  |  |
Cash, cash balances at central banks and other demand deposits | 8 | 71,858 | 71,858 | 71,559 | — | 299
Financial assets at amortized cost | 13 | 438,841 | 433,369 | 41,747 | 10,914 | 380,708
Debt securities |  | 44,769 | 44,022 | 35,039 | 8,169 | 814
Loans and advances to central banks |  | 6,734 | 6,672 | 6,672 | — | —
Loans and advances to credit institutions |  | 17,577 | 17,558 | 36 | 1,708 | 15,814
Loans and advances to customers |  | 369,761 | 365,117 | — | 1,037 | 364,079
LIABILITIES |  |  |  |  |  |
Financial liabilities at amortized cost | 21 | 541,671 | 539,486 | 63,403 | 283,474 | 192,610
Deposits from central banks |  | 21,070 | 21,030 | 20,857 | — | 172
Deposits from credit institutions |  | 38,891 | 38,846 | — | 32,848 | 5,999
Customer deposits |  | 402,344 | 399,980 | 1,048 | 227,470 | 171,462
Debt certificates issued |  | 63,158 | 63,312 | 41,498 | 13,976 | 7,838
Other financial liabilities |  | 16,207 | 16,318 | — | 9,180 | 7,138
Fair value of financial Instruments recognized at amortized cost by levels. December 2022 (Millions of Euros)
| Notes | Book value | Fair value
| Total | Level 1 | Level 2 | Level 3
ASSETS |  |  |  |  |  |
Cash, cash balances at central banks and other demand deposits | 8 | 79,756 | 79,756 | 79,463 | — | 293
Financial assets at amortized cost | 13 | 414,421 | 412,965 | 30,587 | 12,173 | 370,206
Debt securities |  | 36,639 | 36,311 | 26,239 | 9,313 | 759
Loans and advances to central banks |  | 4,401 | 4,401 | 4,259 | — | 142
Loans and advances to credit institutions |  | 16,031 | 16,089 | 89 | 1,289 | 14,711
Loans and advances to customers |  | 357,351 | 356,164 | — | 1,571 | 354,594
LIABILITIES |  |  |  |  |  |
Financial liabilities at amortized cost | 21 | 529,172 | 525,595 | 77,112 | 266,194 | 182,289
Deposits from central banks |  | 38,323 | 38,312 | 38,012 | — | 300
Deposits from credit institutions |  | 26,935 | 26,777 | — | 20,546 | 6,231
Customer deposits |  | 394,404 | 392,805 | 1,158 | 230,821 | 160,826
Debt certificates issued |  | 55,429 | 53,550 | 37,942 | 7,240 | 8,368
Other financial liabilities |  | 14,081 | 14,151 | — | 7,587 | 6,564

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- Definition The disclosure of the fair value of financial instruments. [Refer: Financial instruments, class [member]; At fair value [member]] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 10 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_10_e&doctype=Standard -URIDate 2023-03-23 + Details
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