Company: BBVXF
Filing Date: 2025-03-21
Form Type: 6-K
Source: 0000842180-25-000016
Chunk: 116

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-03-21
Form: 6-K
Chunk 116
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 granted to those securitisation funds, which means that the credit loss risk of the securitised assets will be assumed. Consequently, the Group is not derecognizing those transferred loan portfolios.

In addition, the Group recognizes the gains on sales of securitised assets when they are derecognised from the balance sheet, which implies to comply with the substantial transfer of risks and benefits requirements described above.

The result will be recognised in the income statement and calculated as the difference between the carrying amount and the sum of the amount received, including any new asset received minus liabilities assumed.

When the amount of the transferred financial asset matches the total amount of the original financial asset, the new financial assets, financial liabilities and service-delivery liabilities, which, if any, arise as a result of the transfer, shall be recorded at fair value..

4.2.7.2. Securitisation exposure in the banking and trading book

Article 449 b), j) CRR

EU SECA b)

The Group has carried out seven securitisations in 2024, four of them in cash or traditional format and the other in synthetic securitisation format. The most of them with risk transfer, excluding two cash operations.

The first couple of them in March, from a portfolio of Consumer loans portfolio (BBVA Consumo 13 FT) amounting to €2 billion, the other one, for an amount of 1,400 million euros (BBVA Vela Hipotecario 2024-1 FT), a synthetic securitisation on a portfolio of mortgage loans. In May, the third securitisation (BBVA Consumer 2024-1) for an amount of 800 million euros, on a portfolio of Consumer loans. In June, the fourth one (BBVA RMBS 23 FT), securitization of a portfolio of mortgage loans for an amount of 5,400 million euros. And, in September (BBVA Consumer Auto 2024-1), securitization of Consumer loans for an amount of 1,000 million of euros. During the Q4 the last two securitisations where carried out. A synthetic securitization on a portfolio of loans from Corporates for an amount of 2,000 million euros (BBVA Verano IV Corporate Loans 2024) and, the second (BBVA Vela Corporate 2024-1), in the same format, on a portfolio of loans to Companies and