Company: BBVXF
Filing Date: 2025-07-31
Form Type: 6-K
Source: 0000842180-25-000033
Chunk: 101

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-07-31
Form: 6-K
Chunk 101
---
 sheet items in which the hedging element ("Derivatives - Hedge accounting") or the hedged element is recorded, as applicable (see Note 32).

– In fair value hedges of interest rate risk on a portfolio of financial instruments (“macro hedges”), the gains or losses arising from the measurement of the hedging instrument are recognized directly in the consolidated income statement with a counter-entry under the headings “Derivatives – Hedge accounting” and the gains or losses arising from the change in the fair value of the hedged item (attributable to the hedged risk) are also recorded in the consolidated income statement (in both cases, under the heading “Gains (losses) from hedge accounting, net”), using as a counter-entry the heading "Fair value changes of the hedged items in portfolio hedges of interest rate risk" in the asset or liability sections of the consolidated balance sheet, depending on the nature of the hedged item.

– In cash flow hedges, the valuation differences arising from the effective portion of the hedged items are temporarily recorded under "Accumulated other comprehensive income - Items that may be reclassified to profit or loss - Hedging derivatives. Cash flow hedges (effective portion)" in the consolidated balance sheet, with a counterpart entry under "Derivatives - Hedge accounting" in the asset or liability sections of the consolidated balance sheet, as applicable. These differences are recognized in the consolidated income statement when the gain or loss on the hedged item is recognized in profit or loss, when the planned transactions are executed, or on the maturity date of the hedged item. Almost all of the Group’s cash flow hedges relate to interest rate and inflation hedges of financial instruments, so the amount recorded in other comprehensive income will be reclassified to "Interest and other income" or "Interest expense" in the consolidated income statement (see Note 32).

– The differences in the value of the hedging instrument corresponding to the ineffective portion of cash flow hedging transactions are recorded directly under the heading “Gains (losses) from hedge accounting, net” in the consolidated income statement (see Note 35).

– In hedges of net investments in foreign operations, valuation differences arising from the effective portion of the hedged items are temporarily recorded under "Accumulated other comprehensive income - Items that may be reclassified to profit or loss - Hedge of net investments in foreign operations (effective portion)" in the consolidated balance sheet, with a countervailing entry under "Derivatives - Hedge accounting"