Company: BCDRF
Filing Date: 2025-03-03
Form Type: 6-K
Source: 0000891478-25-000057
Chunk: 103

Company: Banco Santander, S.A.
Filing Date: 2025-03-03
Form: 6-K
Chunk 103
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326 |                                                                         |     |    42 |     |    5 |
| 10                                                                                                                   |     | lease and receivables                                                                   |     |                               |     |   2,617 |                                                                         |     | 5.037 |     |    — |
| 11                                                                                                                   |     | other wholesale                                                                         |     |                               |     |   3,958 |                                                                         |     |     1 |     |    — |
| 12                                                                                                                   |     | re-securitisation                                                                       |     |                               |     |       — |                                                                         |     |     — |     |    — |
|                                                                                                                      |     | CRR Fully Phased-in IFRS 9.                                                             |     |                               |     |         |                                                                         |     |       |     |      |

172 2024 Pillar 3 Disclosures Report

| Index |     | Introduction |     | Capital |     | Risks |     | Risk taker's remunerations |     | Appendices |

#### 6.4. Securitisation accounting policies
This section covers letter (g) of the qualitative requirement SECA - Qualitative disclosure requirements related to securitisation exposures.

According to IFRS 9, the initial recording, classification and subsequent measurement of financial assets is influenced by the company's business model and by the nature of the cash flows that financial assets. Specifically, to allow them to be measured at amortized cost or at fair value with changes in OCI, the Standard requires that contractual cash flows meet the criteria of a basic loan agreement (SPPI [Solely Payments of Principal and Interest] flows).

The criterion for derecognising securitised assets is that set by IFRS 9 in section 3.2. The accounting treatment of transfers of financial assets depends on the form and extent to which the cash flows, risks and rewards are transferred to third parties, as well as with the control of the assets transferred:

• Where substantially all the risks and rewards are transferred to third parties, e.g. in asset securitisations in which the transferor neither retains subordinated debt nor grants any credit enhancement to the new holders, the transferred financial assets are derecognised. Any right or obligation retained or created in the transfer is recognised. The difference between the carrying amount recorded prior to the transfer and the fair value of the retained rights or obligations is recognised in profits or losses for the year.

• Where substantially all the risks and