Company: BBVXF
Filing Date: 2025-03-21
Form Type: 6-K
Source: 0000842180-25-000016
Chunk: 180

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-03-21
Form: 6-K
Chunk 180
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 total assets for the main LMUs as of December 31, 2024 and December 31, 2023 is:

| Table 79.Encumbered assets over total assets ratio |

|             |     | 2024 |    |   | 2023 |    |   |
| BBVA Group  |     |      | 14 | % |      | 18 | % |
| LMU Euro    |     |      | 15 | % |      | 22 | % |
| LMU Mexico  |     |      | 16 | % |      | 13 | % |
| LMU Garanti |     |      |  5 | % |      |  6 | % |

The Group mainly has the following sources of encumbrance: • Assets sold under repurchase agreement Collateralized financing transactions through repurchase agreements are among the short-term sources of funding. These transactions play an important role in the Group's encumbered assets, with debt securities being the main asset used. • Assets pledged with Central Banks The role of central banks as ultimate liquidity providers is one of the key contingent funding resources in the event

of stress in the financial markets. In this regard, and in accordance with the principles established for collateral management, the Group's strategy is to maintain extensive credit facilities with the respective central banks by pledging assets as collateral in those geographical areas where these instruments exist as part of monetary policy. Additionally, a relevant element has been, in the case of the ECB, the non-standard monetary policy measures related to the “Targeted Longer-Term Refinancing Operations” (TLTRO) to provide long-term financing with the aim of easing credit conditions for the private sector and stimulating financing for the real economy. As of December 31, 2024, BBVA S.A. has no balance drawn down in any TLTRO operation. • Management of collateral agreements The use of collateral is one of the most effective techniques to mitigate credit risk exposure arising from derivatives, repo transactions or securities lending. The assets currently used as collateral are: cash and debt securities. • Securitisation The issuance of securitisation represents one of the main potential sources of risk of assets pledged on the balance sheet. Depending on the type of assets backing the securitisation, the following classes are issued: residential mortgage-backed securities (RMBS), consumer loans and loans to SMEs. The impact of this pledging source is very low for the Group. • Covered bonds