7.2 Fair value hierarchy

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:

 

investment property or property held for sale, measured using the income method.Assets and liabilities measured at fiar value as at 31 December 2013Level ILevel IILevel IIITotal
Assets        
Financial instruments held to maturity 19 668 604 120 882 - 19 789 486
Financial instruments available for sale 1 637 420 281 625 - 1 919 045
Equity instruments 370 228 37 660 - 407 888
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 10 610 724 264 117 - 10 874 841
Equity instruments 487 287 264 117 - 751 404
Debt securities 10 123 437 - - 10 123 437
Financial instruments measured at fair value held for trading 5 976 711 2 938 550 - 8 915 261
Equity instruments 2 528 806 2 553 048 - 5 081 854
Debt securities 3 442 825 130 575 - 3 573 400
Derivatives 5 080 254 927 - 260 007
Investment property - 162 441 1 312 329 1 474 770
Assets held for sale 1 - 38 568 51 435 90 003
Liabilities        
Derivatives 1 169 236 580 - 237 749
Liabilities to participants in consolidated investment funds - 267 335 - 267 335
Unit-linked investment contracts - 870 545 - 870 545

1) Additional information concerning assets held for sale has been presented in Section 24.

 

Assets and liabilities measured at fiar value as at 31 December 2012Level ILevel IILevel IIITotal
Aktywa        
Financial instruments held to maturity 22 668 336 120 018 - 22 788 354
Financial instruments available for sale 1 737 277 2 060 876 - 3 798 153
Equity instruments 429 482 1 370 655 - 1 800 137
Debt securities 1 307 795 690 221 - 1 998 016
Financial instruments measured at fair value through profit or loss - classified as such upon initial recognition 7 907 300 479 649 - 8 386 949
Equity instruments 5 319 166 933 - 172 252
Debt securities 7 901 981 312 716 - 8 214 697
Financial instruments measured at fair value held for trading 4 711 205 2 530 247 - 7 241 452
Equity instruments 1 968 840 2 258 049 - 4 226 889
Debt securities 2 742 365 108 128 - 2 850 493
Derivatives - 164 070 - 164 070
Investment property - 112 797 451 607 564 404
Assets held for sale 1 - - 4 461 4 461
Liabilities        
Derivatives - 129 921 - 129 921
Liabilities to participants in consolidated investment funds - - -  
Unit-linked investment contracts - 1 001 923 - 1 001 923

1) Additional information concerning assets held for sale has been presented in Section 24.

   

Level III investment property31 December 201331 December 2012
Office property 888 458 395 635
Commercial property 214 440 -
Warehouse property 183 790 -
Other 25 641 55 972
Level III investment property, total 1 312 329 451 607