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Note 7 | 6 Months Ended
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Jun. 30, 2024
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, 2024 do not differ significantly from those included in Note 8 from the consolidated financial statements for the year ended December 31, 2023. 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 ended December 31, 2023. 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 ended December 31, 2023. 7.1.Fair value of financial instruments recognized at fair value according to valuation method The fair value of the Group's financial instruments recognized at fair value 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, 2024 and December 31, 2023:
Fair value of financial instruments recognized at fair value by level. June 2024 (Millions of Euros)
| Notes | Book value | Fair value
| Level 1 | Level 2 | Level 3
ASSETS |  |  |  |  |
Financial assets held for trading | 9 | 123,821 | 25,730 | 95,191 | 2,900
Derivatives |  | 33,183 | 520 | 32,168 | 496
Equity instruments |  | 7,699 | 7,447 | 89 | 163
Debt securities |  | 31,947 | 17,763 | 13,894 | 291
Loans and advances |  | 50,992 | — | 49,041 | 1,951
Non-trading financial assets mandatorily at fair value through profit or loss | 10 | 10,584 | 8,890 | 376 | 1,318
Equity instruments |  | 9,646 | 8,340 | 50 | 1,256
Debt securities |  | 653 | 550 | 54 | 50
Loans and advances to customers |  | 285 | — | 273 | 12
Financial assets designated at fair value through profit or loss | 11 | 856 | 849 | 7 | —
Debt securities |  | 856 | 849 | 7 | —
Financial assets at fair value through other comprehensive income | 12 | 60,691 | 49,831 | 9,852 | 1,008
Equity instruments |  | 1,382 | 1,140 | 53 | 188
Debt securities |  | 59,284 | 48,691 | 9,773 | 820
Loans and advances to credit institutions |  | 25 | — | 25 | —
Derivatives – Hedge accounting | 14 | 1,212 | — | 1,212 | —
LIABILITIES |  |  |  |  |
Financial liabilities held for trading | 9 | 93,546 | 15,223 | 77,034 | 1,289
Trading derivatives |  | 31,321 | 734 | 29,815 | 772
Short positions |  | 15,249 | 14,488 | 648 | 113
Deposits |  | 46,976 | — | 46,571 | 405
Financial liabilities designated at fair value through profit or loss | 11 | 14,935 | — | 12,841 | 2,094
Deposits from credit institutions |  | 46 | — | 46 | —
Customer deposits |  | 953 | — | 953 | —
Debt certificates issued |  | 4,455 | — | 2,361 | 2,094
Other financial liabilities |  | 9,481 | — | 9,481 | —
Derivatives – Hedge accounting | 14 | 2,525 | — | 2,490 | 35
Fair value of financial Instruments recognized at fair value by level. December 2023 (Millions of Euros)
| Notes | Book value | Fair value
| Level 1 | Level 2 | Level 3
ASSETS |  |  |  |  |
Financial assets held for trading | 9 | 141,042 | 21,972 | 116,905 | 2,165
Derivatives |  | 34,293 | 144 | 33,880 | 269
Equity instruments |  | 4,589 | 4,494 | 24 | 71
Debt securities |  | 28,569 | 17,333 | 11,081 | 155
Loans and advances |  | 73,590 | — | 71,921 | 1,669
Non-trading financial assets mandatorily at fair value through profit or loss | 10 | 8,737 | 7,028 | 493 | 1,216
Equity instruments |  | 7,963 | 6,742 | 72 | 1,148
Debt securities |  | 484 | 286 | 132 | 66
Loans and advances to customers |  | 290 | — | 288 | 2
Financial assets designated at fair value through profit or loss | 11 | 955 | 908 | 47 | —
Debt securities |  | 955 | 908 | 47 | —
Financial assets at fair value through other comprehensive income | 12 | 62,205 | 52,987 | 8,335 | 883
Equity instruments |  | 1,217 | 1,026 | 52 | 139
Debt securities |  | 60,963 | 51,961 | 8,258 | 745
Loans and advances to credit institutions |  | 26 | — | 26 | —
Derivatives – Hedge accounting | 14 | 1,482 | — | 1,482 | —
LIABILITIES |  |  |  |  |
Financial liabilities held for trading | 9 | 121,715 | 14,133 | 106,382 | 1,201
Trading derivatives |  | 33,045 | 191 | 32,111 | 743
Short positions |  | 15,735 | 13,942 | 1,750 | 44
Deposits |  | 72,935 | — | 72,520 | 415
Financial liabilities designated at fair value through profit or loss | 11 | 13,299 | — | 11,073 | 2,227
Deposits from credit institutions |  | — | — | — | —
Customer deposits |  | 717 | — | 717 | —
Debt certificates issued |  | 3,977 | — | 1,751 | 2,227
Other financial liabilities |  | 8,605 | — | 8,605 | —
Derivatives – Hedge accounting | 14 | 2,625 | — | 2,586 | 39
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, 2024 and December 31, 2023:
Fair value of financial instruments recognized at amortized cost by level. June 2024 (Millions of Euros) |
| Notes | Book value | Fair value |
| Carrying amount presented as fair value ⁽¹⁾ | Level 1 | Level 2 | Level 3 | Total
ASSETS |  |  |  |  |  |  |
Cash, cash balances at central banks and other demand deposits | 8 | 45,055 | 45,055 | — | — | — | 45,055
Financial assets at amortized cost | 13 | 481,213 | 32,486 | 46,146 | 24,410 | 375,789 | 478,831
Debt securities |  | 58,450 | — | 46,146 | 10,437 | 545 | 57,128
Loans and advances |  | 422,762 | 32,486 | — | 13,974 | 375,244 | 421,703
LIABILITIES |  |  |  |  |  |  |
Financial liabilities at amortized cost | 21 | 565,752 | 363,010 | 45,016 | 54,478 | 103,299 | 565,803
Deposits |  | 480,420 | 346,742 | — | 34,028 | 99,058 | 479,828
Debt certificates issued |  | 69,061 | — | 45,016 | 20,450 | 4,240 | 69,707
Other financial liabilities |  | 16,271 | 16,268 | — | — | — | 16,268
(1) Financial instruments whose book value is presented as an approximation to their fair value, mainly short-term financial instruments.
Fair value of financial Instruments recognized at amortized cost by levels. December 2023 (Millions of Euros) |
| Notes | Book value | Fair value |
| Carrying amount presented as fair value ⁽¹⁾ | Level 1 | Level 2 | Level 3 | Total
ASSETS |  |  |  |  |  |  |
Cash, cash balances at central banks and other demand deposits | 8 | 75,416 | 75,416 | — | — | — | 75,416
Financial assets at amortized cost | 13 | 451,732 | 34,826 | 41,950 | 10,533 | 359,062 | 446,371
Debt securities |  | 49,462 | — | 41,950 | 6,244 | 759 | 48,952
Loans and advances |  | 402,270 | 34,826 | — | 4,290 | 358,303 | 397,418
LIABILITIES |  |  |  |  |  |  |
Financial liabilities at amortized cost | 21 | 557,589 | 358,657 | 42,742 | 86,390 | 68,127 | 555,915
Deposits |  | 473,835 | 343,611 | 1,269 | 62,049 | 64,601 | 471,530
Debt certificates issued |  | 68,707 | — | 41,472 | 24,341 | 3,526 | 69,339
Other financial liabilities |  | 15,046 | 15,046 | — | — | — | 15,046
(1) Financial instruments whose book value is presented as an approximation to their fair value, mainly short-term financial instruments.

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