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- Financial notes
- 50. Financial assets and financial liabilities not presented at fair value in the consolidated statement of financial position
50. Financial assets and financial liabilities not presented at fair value in the consolidated statement of financial position
The Group holds financial instruments which are not presented at fair value in the statement of financial position.
For many financial instruments, the market values are unattainable hence the presented fair values are estimated with the use of an array of measurement techniques.
All model calculations include certain simplifying assumptions and therefore are sensitive to those assumptions. For certain categories of financial instruments, it has been assumed that their carrying amount equals approximately their fair values, which is due to the lack of expected material differences between their carrying amount and fair value resulting from the features of these categories (such as short-term nature, high correlation with market parameters, the unique nature of the instrument).
| ITEM | MAJOR METHODS AND ASSUMPTIONS USED WHEN ESTIMATING FAIR VALUES OF FINANCIAL INSTRUMENTS NOT MEASURED AT FAIR VALUE |
|---|---|
| AMOUNTS DUE FROM AND TO BANKS |
|
| SECURITIES |
|
| LOANS AND ADVANCES TO CUSTOMERS |
|
| AMOUNTS DUE TO CUSTOMERS |
|
| SECURITIES IN ISSUE | PKO Bank Hipoteczny S.A.
|
| PKO Bank Polski S.A. The model of expected cash flows discounted using the current interbank market rates and market quotations PKO Leasing S.A. The model of expected cash flows discounted using the current market quotationsstopami kwotowania rynkowego |
|
| SUBORDINATED LIABILITIES | The model of expected cash flows discounted based on yield curves |
| KCASH AND BALANCES WITH THE CENTRAL BANK AND AMOUNTS DUE TO THE CENTRAL BANK | Fair values are equal to carrying amounts. |
| OTHER FINANCIAL ASSETS AND FINANCIAL LIABILITIES | Fair values are equal to carrying amounts. |
| 31.12.2023 | carrying amount | fair value | ||
|---|---|---|---|---|
| Level 1 | Level 2 | Level 3 | ||
| Cash and balances with Central Bank | 17,813 | 4,382 | 13,431 | – |
| Amounts due from banks | 14438 | – | 14,436 | – |
| Securities (excluding adjustments relating to fair value hedge accounting) | 87,227 | 70,018 | 10,936 | 2,285 |
| Treasury bonds (in PLN) | 58,836 | 55,709 | – | – |
| Treasury bonds (in foreign currencies) | 1,439 | 1,441 | – | – |
| corporate bonds (in PLN) secured with the State Treasury guarantees | 13,619 | 12,868 | – | – |
| municipal bonds (in PLN) | 8,658 | – | 8,803 | – |
| corporate bonds (in PLN) | 2,413 | – | – | 2,285 |
| corporate bonds (in foreign currencies) | 2,262 | – | 2,133 | – |
| Reverse repo transactions | 372 | – | 372 | – |
| Loans and advances to customers (excluding adjustment relating to fair value hedge accounting) | 242,907 | – | – | 245,291 |
| housing loans* | 112,513 | – | – | 111,723 |
| business loans | 76,434 | – | – | 78,801 |
| consumer loans | 29,474 | – | – | 30,285 |
| factoring receivables | 5,386 | – | – | 5,386 |
| finance lease receivables | 19,100 | – | – | 19,096 |
| Other financial assets | 1,474 | – | – | 1,474 |
| Amounts due to Central bank | 10 | – | 10 | – |
| Amounts due to banks | 3,423 | – | 3,423 | – |
| Amounts due to customers (excluding adjustment relating to fair value hedge accounting) | 398,339 | – | – | 398,708 |
| amounts due to households | 306,450 | – | – | 306,817 |
| amounts due to business entities | 76,372 | – | – | 76,375 |
| amounts due to public sector | 15,517 | – | – | 15,516 |
| Loans and advances received | 1,489 | – | – | 1,489 |
| Securities in issue | 17,201 | 10,330 | 5,237 | 1,607 |
| Subordinated liabilities | 2,774 | – | 2,804 | – |
| Other financial liabilities | 6,084 | – | – | 6,084 |
1 the fair value measurement takes into account the effect of the credit holidays described in note “Loans and advances to customers”
| 31.12.2022 | carrying amount | fair value | ||
|---|---|---|---|---|
| Level 1 | Level 2 | Level 3 | ||
| Cash and balances with Central Bank | 15,917 | 4,215 | 11,702 | – |
| Amounts due from banks | 16,101 | – | 16,098 | – |
| Securities (excluding adjustments relating to fair value hedge accounting) | 68,556 | 49,891 | 7,779 | 1,733 |
| Treasury bonds (in PLN) | 45,893 | 38,773 | – | 23 |
| Treasury bonds (in foreign currencies) | 713 | 708 | – | – |
| corporate bonds (in PLN) secured with the State Treasury guarantees | 12,100 | 10,410 | – | – |
| municipal bonds (in PLN) | 6,182 | – | 6,332 | – |
| corporate bonds (in PLN) | 1,989 | – | – | 1,710 |
| corporate bonds (in foreign currencies) | 1,679 | – | 1,447 | – |
| Reverse repo transactions | 7 | – | 7 | – |
| Loans and advances to customers (excluding adjustment relating to fair value hedge accounting) | 229,377 | – | – | 230,438 |
| housing loans | 109,137 | – | – | 108,642 |
| business loans | 71,103 | – | – | 72,955 |
| consumer loans | 27,382 | – | – | 27,152 |
| factoring receivables | 3,591 | – | – | 3,592 |
| finance lease receivables | 18,164 | – | – | 18,097 |
| Other financial assets | 1,850 | – | – | 1,850 |
| Amounts due to Central bank | 9 | – | 9 | – |
| Amounts due to banks | 3,011 | – | 3,009 | – |
| Amounts due to customers (excluding adjustment relating to fair value hedge accounting) | 338,770 | – | – | 337,983 |
| amounts due to households | 262,948 | – | – | 262,128 |
| amounts due to business entities | 58,634 | – | – | 58,667 |
| amounts due to public sector | 17,188 | – | – | 17,188 |
| Loans and advances received | 2,294 | – | – | 2,283 |
| Securities in issue | 15,510 | 11,798 | 1,265 | 2,187 |
| Subordinated liabilities | 2,781 | – | 2,603 | – |
| Other financial liabilities | 4,385 | – | – | 4,385 |