On the basis of the input data used for fair value measurement, individual assets and liabilities for which the fair value is presented, are classified to the following levels:
- Level I – Financial assets and liabilities measured based on listed prices (unadjusted) from active markets for identical assets and liabilities. The level includes:
- listed liquid debt instruments;
- listed shares;
- listed derivatives.
- Level II – assets and liabilities measured based on input data other than listed prices, classified to Level I, which can be directly (as prices) or indirectly (on the basis of prices) observed on the market. The level includes:
- unlisted debt securities and non-liquid debt securities (including other than treasury debt securities issued by other financial entities, local government and entities from outside the financial sector);
- derivatives other than listed ones;
- investment fund units;
- investment property or property held for sale, measured with the use of the comparable method, including available development land and some smaller and less valuable buildings (such as residential premises, garages etc.);
- liabilities to participants in consolidated investment funds;
- unit-linked investment contracts.
- Level III – assets measured based on input data unobserved on the existing markets (unobservable input data). This level includes investment property or property held for sale, measured using the income method or the residual method.
In a situation where input data classified into different levels of fair value hierarchy is used for measurement of asset or liability elements, the measured component is attributed to the lowest level, from which the input data originate, which have a significant impact on the overall measurement.
Assets and liabilities measured at fair value as at 31 December 2014 | Level I | Level II | Level III | Total |
---|---|---|---|---|
Assets | ||||
Financial instruments available for sale | 2,523,930 | 458,234 | - | 2,982,164 |
Equity instruments | 357,732 | 189,567 | - | 547,299 |
Debt securities | 2,166,198 | 268,667 | - | 2,434,865 |
Financial instruments measured at fair value through profit or loss - classified as such upon initial recognition | 12,503,393 | 67,744 | - | 12,571,137 |
Equity instruments | 1,444,157 | 38,44 | - | 1,482,597 |
Debt securities | 11,059,236 | 29,304 | - | 11,088,540 |
Financial instruments measured at fair value through profit or loss – held for trading | 2,990,261 | 3,535,086 | - | 6,525,347 |
Equity instruments | 1,572,464 | 2,890,941 | - | 4,463,405 |
Debt securities | 1,415,953 | 99,586 | - | 1,515,539 |
Derivatives | 1,844 | 544,559 | - | 546,403 |
Investment property | - | 161,092 | 2,074,970 | 2,236,062 |
Assets held for sale 1) | - | 69,259 | 60,001 | 129,26 |
Liabilities | ||||
Derivatives | 19,032 | 606,812 | - | 625,844 |
Liabilities to participants of consolidated investment funds | - | 856,865 | - | 856,865 |
Unit linked investment contracts | - | 587,267 | - | 587,267 |
1) Additional information concerning assets held for sale has been presented in Note 43.
Assets and liabilities measured at fair value as at 31 December 2013 | Level I | Level II | Level III | Total |
---|---|---|---|---|
Assets | ||||
Financial instruments available for sale | 1,637,420 | 279,564 | - | 1,916,984 |
Equity instruments | 370,228 | 35,599 | - | 405,827 |
Debt securities | 1,267,192 | 243,965 | - | 1,511,157 |
Financial instruments measured at fair value through profit or loss - classified as such upon initial recognition | 10,963,791 | 25,088 | - | 10,988,879 |
Equity instruments | 791,919 | 25,088 | - | 817,007 |
Debt securities | 10,171,872 | - | - | 10,171,872 |
Financial instruments measured at fair value through profit or loss – held for trading | 5,976,711 | 2,938,586 | - | 8,915,297 |
Equity instruments | 2,528,806 | 2,553,048 | - | 5,081,854 |
Debt securities | 3,442,825 | 130,575 | - | 3,573,400 |
Derivatives | 5,080 | 254,963 | - | 260,043 |
Investment property | - | 162,441 | 1,312,329 | 1,474,770 |
Assets held for sale 1) | - | 38,568 | 51,435 | 90,003 |
Liabilities | ||||
Derivatives | 1,169 | 236,58 | - | 237,749 |
Liabilities to participants in the consolidated investment funds | - | 688,282 | - | 688,282 |
Unit linked investment contracts | - | 870,545 | - | 870,545 |
1) Additional information concerning assets held for sale has been presented in 43.
Level III investment property | 31 December 2014 | 31 December 2013 |
---|---|---|
Office property | 929,977 | 888,458 |
Commercial property | 230,270 | 214,440 |
Warehouse property | 891,690 | 183,790 |
Other | 23,033 | 25,641 |
Level III investment property, total | 2,074,970 | 1,312,329 |
1) Additional information concerning assets held for sale has been presented in 43.
Assets and liabilities whose fair value is disclosed as at 31 December 2014 | Level I | Level II | Level III | Total |
---|---|---|---|---|
Assets | ||||
Financial instruments held to maturity | 20,443,747 | 3,080,645 | - | 23,524,392 |
Entities measured using the equity method - EMC | 52,737 | - | - | 52,737 |
Liabilities | ||||
Liabilities arising from issue of debt securities | - | 2,180,294 | - | 2,180,294 |
Investment contracts with guaranteed and fixed terms and conditions | - | 520,383 | - | 520,383 |
Assets and liabilities whose fair value is revealed as at 31 December 2013 | Level I | Level II | Level III | Total |
---|---|---|---|---|
Assets | ||||
Financial instruments held to maturity | 19,668,604 | 128,135 | - | 19,796,739 |
Entities measured using the equity method - EMC | 47,954 | - | - | 47,954 |
Liabilities | ||||
Investment contracts with guaranteed and fixed terms and conditions | - | 1,253,256 | - | 1,253,256 |