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Fair value of financial assets and liabilities (Tables)
 12 Months Ended
Dec. 31, 2017
Fair value of financial assets and liabilities (Tables) [Abstract]  
Summary of the fair values of financial assets and liabilities

The following table shows a summary of the fair values of financial assets and liabilities for the period ended December 31, 2017, 2016 and 2015, classified based on several measurement methods adopted by the Bank to determine their fair value:

 

Thousand of reais

 

 

2017

Level 1 (1)

Level 2 (1)

Level 3

Total

Financial assets held for trading

 

  34,380,542

 

  18,059,034

 

  -

 

52,439,576

Debt instruments

 

  33,891,360

 

988,321

 

  -

 

34,879,681

Equity instruments

 

489,182

 

  588

 

  -

 

  489,770

Derivatives

 

-

 

  17,070,125

 

  -

 

17,070,125

Financial assets designated at fair value through profit or loss

 

  1,593,951

 

64,738

 

  33,368

 

1,692,057

Debt instruments

 

  1,593,951

 

64,738

 

  -

 

1,658,689

Equity instruments

 

-

 

-

 

  33,368

 

  33,368

Financial assets - available-for-sale

 

  79,301,016

 

  6,382,225

 

  140,143

 

85,823,384

Debt instruments

 

  78,335,629

 

  6,381,118

 

  -

 

84,716,747

Equity instruments

 

965,387

 

1,107

 

  140,143

 

1,106,637

Hedging derivatives (assets)

 

-

 

192,763

 

  -

 

  192,763

Financial liabilities held for trading

 

  32,808,392

 

  16,514,154

 

  -

 

49,322,546

Derivatives

 

-

 

  16,514,154

 

  -

 

16,514,154

Short positions

 

  32,808,392

 

-

 

  -

 

32,808,392

Hedging derivatives (liabilities)

 

-

 

163,332

 

  -

 

  163,332

Thousand of reais

 

 

2016

Level 2

Level 3

Total

Level 1

Financial assets held for trading

 

  59,410,908

 

  25,462,755

 

  -

 

84,873,663

Debt instruments

 

  59,034,363

 

960,583

 

  -

 

59,994,946

Equity instruments

 

376,545

 

21,916

 

  -

 

  398,461

Trading derivatives

 

-

 

  24,480,256

 

  -

 

24,480,256

Financial assets designated at fair value through profit or loss

 

  1,597,660

 

76,035

 

  37,509

 

1,711,204

Debt instruments

 

  1,592,714

 

76,035

 

  -

 

1,668,749

Equity instruments

 

4,946

 

-

 

  37,509

 

  42,455

Financial assets - available-for-sale

 

  51,160,044

 

  5,703,389

 

  951,612

 

57,815,045

Debt instruments

 

  50,172,609

 

  5,656,963

 

  -

 

55,829,572

Equity instruments

 

987,435

 

46,426

 

  951,612

 

1,985,473

Hedging derivatives (assets)

 

-

 

222,717

 

  -

 

  222,717

Financial liabilities held for trading

 

  31,694,269

 

  19,925,600

 

  -

 

51,619,869

Derivatives

 

-

 

  19,925,600

 

  -

 

19,925,600

Short positions

 

  31,694,269

 

-

 

  -

 

31,694,269

Hedging derivatives (liabilities)

 

-

 

311,015

 

  -

 

  311,015

Thousand of reais

 

 

2015

Level 2

Level 3

Total

Level 1

Financial assets held for trading

 

  24,952,744

 

  25,583,987

 

  -

 

50,536,731

Debt instruments

 

  24,579,100

 

614,498

 

  -

 

25,193,598

Equity instruments

 

373,644

 

31,329

 

  -

 

  404,973

Derivatives

 

-

 

  24,938,160

 

  -

 

24,938,160

Financial assets designated at fair value through profit or loss

 

  1,420,332

 

86,238

 

  573,664

 

2,080,234

Debt instruments

 

  1,420,332

 

86,238

 

  -

 

1,506,570

Equity instruments

 

-

 

-

 

  573,664

 

  573,664

Financial assets - available-for-sale

 

  56,497,320

 

  10,910,469

 

  857,817

 

68,265,606

Debt instruments

 

  56,250,013

 

  10,853,261

 

  -

 

67,103,274

Equity instruments

 

247,307

 

57,208

 

  857,817

 

1,162,332

Hedging derivatives (assets)

 

-

 

  1,312,202

 

  -

 

1,312,202

Financial liabilities held for trading

 

  20,047,631

 

  22,340,137

 

  -

 

42,387,768

Derivatives

 

-

 

  22,340,137

 

  -

 

22,340,137

Short positions

 

  20,047,631

 

-

 

  -

 

20,047,631

Hedging derivatives (liabilities)

 

-

 

  2,376,822

 

  -

 

2,376,822
Fair value hierarchy

The following tables demonstrate the movements during 2017, 2016 and 2015 for the financial assets and liabilities classified as Level 3 in the fair value hierarchy:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Thousand of reais

 

 

 

 

 

Fair Value
2016

 

Gains/ losses (Realized-Not Realized)

 

Transfers in and/ or out of Level 3

 

Additions

 

Settled

 

Fair value
2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial assets designated at fair value through profit or loss

37,509

 

(2,555)

 

-

 

-

 

(1,586)

 

  33,368

Financial assets - available-for-sale

951,612

 

18,474

 

-

 

-

 

(829,943)

 

  140,143

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Thousand of reais

 

 

 

 

 

Fair Value
2015

 

Gains/ losses (Realized-Not Realized)

 

Transfers in and/ or out of Level 3

 

Additions

 

Settled

 

Fair value
2016

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial assets designated at fair value through profit or loss

 

573,664

 

2,806

 

  (14,345)

 

  111

 

(524,727)

 

  37,509

Financial assets - available-for-sale

 

857,817

 

(60,934)

 

  (3,085)

 

461,185

 

(303,371)

 

  951,612

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Thousand of reais

 

 

 

 

 

Fair Value
2014

 

Gains/ losses (Realized-Not Realized)

 

Transfers in and/ or out of Level 3

 

Additions

 

Settled

 

Fair value
2015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial assets held for trading

 

3,329

 

  -

 

-

 

-

 

(3,329)

 

  -

Financial assets designated at fair value through profit or loss

 

902,794

 

(329,130)

 

-

 

-

 

  -

 

  573,664

Financial assets - available-for-sale

 

897,956

 

(58,008)

 

-

 

54,785

 

(36,916)

 

  857,817

Comparison of the carrying amounts of the Bank's financial assets measured at other than fair value and their respective fair values

Below is a comparison of the carrying amounts of financial assets of the Bank measured by a value other than the fair value and their respective fair values on December 31, 2017, 2016 and 2015:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Thousand of reais

 

 

 

 

 

 

 

 

 

2017

 

 

 

 

 

 

 

 

Carrying Amount

 

Fair Value

 

Level 1

 

Level 2

 

Level 3

Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market investments - Brazilian Central Bank (note 5)

 

 

 

  33,831,521

 

  33,914,021

 

-

 

33,914,021

 

  -

Investments Held-to-Maturity  (note 7)

 

 

 

 

 

  10,214,454

 

  10,587,117

 

  7,251,246

 

3,335,871

 

  -

Loans and receivables:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loans and amounts due from credit institutions (note 6)

 

 

 

  32,300,095

 

  32,300,095

 

-

 

32,300,095

 

  -

Loans and advances to customers (note 10)

 

 

 

  272,420,157

 

  275,647,324

 

-

 

  -

 

275,647,324

Loans and receivables - Debt instruments (note 7)

 

 

 

  17,616,515

 

  17,127,511

 

-

 

17,127,511

 

  -

Total

 

 

 

 

 

 

 

  366,382,742

 

  369,576,068

 

  7,251,246

 

86,677,498

 

275,647,324

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Thousand of reais

 

 

 

 

 

 

 

 

 

2016

 

 

 

 

 

 

 

 

Carrying Amount

 

Fair Value

 

Level 1

 

Level 2

 

Level 3

Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market investments - Brazilian Central Bank (note 5)

 

 

 

  46,371,814

 

  46,341,971

 

-

 

46,341,971

 

  -

Investments Held-to-Maturity  (note 7)

 

 

 

 

 

  10,048,761

 

  10,555,437

 

  6,942,173

 

3,613,264

 

  -

Loans and receivables:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loans and amounts due from credit institutions (note 6)

 

 

 

  27,762,473

 

  27,757,607

 

-

 

27,757,607

 

  -

Loans and advances to customers (note 10)

 

 

 

  252,002,774

 

  253,860,027

 

-

 

  -

 

253,860,027

Loans and receivables - Debt instruments (note 7)

 

 

 

  16,283,259

 

  16,003,885

 

-

 

16,003,885

 

  -

Total

 

 

 

 

 

 

 

  352,469,081

 

  354,518,927

 

  6,942,173

 

93,716,727

 

253,860,027

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Thousand of reais

 

 

 

 

 

 

 

 

 

2015

 

 

 

 

 

 

 

 

Carrying Amount

 

Fair Value

 

Level 1

 

Level 2

 

Level 3

Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market investments - Brazilian Central Bank (note 5)

 

 

 

  31,316,917

 

  31,310,136

 

-

 

31,310,136

 

  -

Investments Held-to-Maturity  (note 7)

 

 

 

 

 

 

 

  10,097,836

 

  9,257,519

 

  5,698,211

 

3,559,308

 

  -

Loans and receivables:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loans and amounts due from credit institutions (note 6)

 

 

 

  42,422,638

 

  42,381,130

 

-

 

42,381,130

 

  -

Loans and advances to customers (note 10)

 

 

 

  252,033,449

 

  251,319,173

 

-

 

  -

 

251,319,173

 Loans and receivables - Debt instruments (note 7)

 

 

 

 

  11,812,701

 

  11,457,378

 

-

 

11,457,378

 

  -

Total

 

 

 

 

 

 

 

  347,683,541

 

  345,725,336

 

  5,698,211

 

88,707,952

 

251,319,173

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
Comparison of the carrying amounts of the Bank's financial liabilities measured at other than fair value and their respective fair values

Following is a comparison of the carrying amounts of Bank´s financial liabilities measured by a value other than fair value and their respective fair values on  December 31 , 2017, 2016 and 2015:

 

Thousand of reais

 

 

 

 

2017

Carrying Amount

Fair Value

Level 1

Level 2

Level 3

Liabilities

Financial liabilities at amortized cost:

Deposits from Bacen and credit institutions (note 17)

 

  79,068,604

 

  79,068,564

 

-

 

  -

 

79,068,564

Customer deposits (note 18)

 

  258,482,156

 

  258,576,177

 

-

 

  -

 

258,576,177

Marketable debt securities (note 19)

 

  70,247,012

 

  70,245,820

 

-

 

2,000,552

 

68,245,268

Subordinated liabilities (note 20)

 

519,230

 

528,799

 

-

 

  -

 

  528,799

Debt Instruments Eligible to Compose Capital (note 21)

 

  8,436,901

 

  8,436,901

 

-

 

8,436,901

 

  -

Other financial liabilities (note 22)

 

  44,260,735

 

  43,003,735

 

-

 

  -

 

43,003,735

Total

 

  461,014,638

 

  459,859,996

 

-

 

10,437,453

 

449,422,543

Thousand of reais

 

 

 

 

2016

Carrying Amount

Fair Value

Level 1

Level 2

Level 3

Liabilities

Financial liabilities at amortized cost:

Centrals banks (note 17)

 

  78,319,960

 

  78,323,271

 

-

 

  -

 

78,323,271

Customers (note 18)

 

  231,079,303

 

  231,125,526

 

-

 

  -

 

231,125,526

Marketable debt securities (note 19)

 

  99,842,955

 

  99,671,288

 

-

 

7,321,870

 

92,349,418

Subordinated liabilities (note 20)

 

466,246

 

452,439

 

-

 

  -

 

  452,439

Debt Instruments Eligible to Compose Capital (note 21)

 

  8,311,918

 

  8,311,918

 

-

 

8,311,918

 

  -

Other financial liabilities (note 22)

 

  36,879,099

 

  35,622,099

 

-

 

  -

 

35,622,099

Total

 

  454,899,481

 

  453,506,541

 

-

 

15,633,788

 

437,872,753

 

Thousand of reais

 

 

 

 

2015

Carrying Amount

Fair Value

Level 1

Level 2

Level 3

Liabilities

Financial liabilities at amortized cost:

Centrals banks (note 17)

 

  69,306,902

 

  69,307,617

 

-

 

  -

 

69,307,617

Customers (note 18)

 

  227,462,949

 

  227,422,985

 

-

 

  -

 

227,422,985

Marketable debt securities (note 19)

 

  94,658,300

 

  95,486,114

 

-

 

13,712,057

 

81,774,057

Subordinated liabilities (note 20)

 

  8,097,304

 

  8,142,296

 

-

 

  -

 

8,142,296

Debt Instruments Eligible to Compose Capital (note 21)

 

  9,959,037

 

  9,959,037

 

-

 

9,959,037

 

  -

Other financial liabilities (note 22)

 

  32,072,645

 

  30,815,646

 

-

 

  -

 

30,815,646

Total

 

  441,557,137

 

  441,133,695

 

-

 

23,671,094

 

417,462,601