On the basis of the input data used for fair value measurement, individual assets and liabilities for which the fair value is presented, have been 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 securities;
  • 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);
  • other than listed derivatives;
  • 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 – financial instruments measured based on input data unobserved on the existing markets (unobservable input data). The level includes: