Management of financial risks and financial instruments (Tables)

12 Months Ended

Dec. 31, 2019

The carrying amount of the financial assets representing the maximum exposure to credit risk is shown in the table below:


	2019		2018
Financial assets
Securities purchased under agreements to resell		9,490,090		6,570,609
Securities		27,326,481		7,142,041
Public securities		20,381,125		4,704,604
Private securities		6,945,356		2,437,437
Derivative financial instruments		4,085,004		1,692,031
Securities trading and intermediation		504,983		898,312
Accounts receivable		462,029		219,200
Other financial assets		20,191		60,423

Total		41,888,778		16,582,616

The tables below summarizes the Group’s financial liabilities into groupings based on their contractual maturities:


	2019
Liabilities	Up to 1 month		From 2 to 3 months		From 3 to 12 months		From 1 to 5 years		Above 5 years		Contractual cash flow
Securities loaned		2,021,707		—		—		—		—		2,021,707
Derivative financial instruments		1,557,088		211,882		685,566		732,286		42,414		3,229,236
Securities sold under repurchase agreements		15,638,407		—		—		—		—		15,638,407
Securities trading and intermediation		9,114,546		—		—		—		—		9,114,546
Borrowings and lease liabilities		8,239		26,258		81,953		521,034		—		637,484
Debentures		—		—		435,230		400,000		—		835,230
Accounts payables		266,813		—		—		—		—		266,813
Other financial liabilities		79,157		—		—		—		19,474		98,631

Total		28,685,957		238,140		1,167,519		1,688,550		61,888		31,842,054


	2018
Liabilities	Up to 1 month		From 2 to 3 months		From 3 to 12 months		From 1 to 5 years		Above 5 years		Contractual cash flow
Securities loaned		770,270		478,741		10,568		—		—		1,259,579
Derivative financial instruments		152,971		182		242,506		560,798		34,942		991,399
Securities sold under repurchase agreements		68,738		5,439,405		1,132,551		—		—		6,640,694
Securities trading and intermediation		5,306,628		—		—		—		—		5,306,628
Borrowings and lease liabilities		19,032		22,752		72,705		355,120		—		469,609
Debentures		—		—		—		406,538		—		406,538
Accounts payables		134,579		—		—		—		—		134,579
Other financial liabilities		7,011		—		—		—		—		7,011

Total		6,459,229		5,941,080		1,458,330		1,322,456		34,942		15,216,037


		2019
Trading portfolio	Exposures	Scenarios
Risk factors	Risk of variation in:	I			II			III
Pre-fixed	Pre-fixed interest rate in Reais		(907	)		(163,057	)		(445,866	)
Exchange coupons	Foreign currencies coupon rate		(67	)		570			(854	)
Foreign currencies	Exchange rates		(2,102	)		(1,493	)		43,908
Price indexes	Inflation coupon rates		(63	)		(782	)		(301	)
Shares	Shares prices		(442	)		(8,780	)		(57,390	)

			(3,581	)		(173,542	)		(460,503	)


		2018
Trading portfolio	Exposures	Scenarios
Risk factors	Risk of variation in:	I			II			III
Pre-fixed	Pre-fixed interest rate in Reais		(559	)		(11,441	)		(22,881	)
Exchange coupons	Foreign currencies coupon rate		(9	)		(5,764	)		(11,529	)
Foreign currencies	Exchange rates		(386	)		(978	)		(5,027	)
Price indexes	Inflation coupon rates		(16	)		(798	)		(1,597	)
Shares	Shares prices		877			(6,584	)		4,873

			(93	)		(25,565	)		(36,161	)