Company: BBVXF
Filing Date: 2025-08-12
Form Type: DRS
Source: 0000950123-25-007520
Chunk: 448

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-08-12
Form: DRS
Chunk 448
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 at 31 December 2024 and 2023, there was no significant financial support from the Group for unconsolidated securitisations. Schedule II to these consolidated annual financial statements includes certain information regarding the securitisation funds originated by the Group. 4.4.3. Financial risks Financial risk is defined as the possibility of obtaining inadequate returns or having insufficient levels of liquidity that prevent an institution from meeting future requirements and expectations. 4.4.3.1 Liquidity and funding risk Liquidity risk refers to the possibility of losses being incurred as a result of the Institution being unable, albeit temporarily, to honour payment commitments due to a lack of liquid assets or due to its inability to access the markets to refinance debts at a reasonable cost. This risk may be associated with factors of a systemic nature or specific to the Institution itself. In this regard, the Group aims to maintain a stock of liquid assets and a funding structure that, in line with its strategic objectives and based on its Risk Appetite Statement, allow it to honour its payment commitments as usual and at a reasonable cost, both under business-as-usualconditions and in a stress situation caused by systemic and/or idiosyncratic factors. The fundamental pillars of Banco Sabadell’s governance structure for liquidity management and control are the direct involvement of the governing body, Board committees and management bodies, following the model of three lines of defence, and a clear segregation of duties, as well as a clear-cutstructure of responsibilities. Liquidity management Banco Sabadell’s liquidity management seeks to ensure funding for its business activity at an appropriate cost and term while minimising liquidity risk. The Institution’s funding policy focuses on maintaining a balanced funding structure, based mainly on customer deposits and supplemented with access to wholesale markets that allows the Group to maintain a comfortable liquidity position at all times. The Group follows a structure based on Liquidity Management Units (LMUs) to manage its liquidity. Each LMU is responsible for managing its own liquidity and for setting its own metrics to control liquidity risk, working together with the Group’s corporate functions. As at the end of December 2024, the LMUs are A-182

As confidentially submitted to the Securities and Exchange Commission on August 11, 2025. This Amendment No. 4 has not been publicly filed with the Securities and Exchange Commission and all information herein remains strictly confidential. Banco Sabadell (includes Banco de Sabadell, S.A., which in turn includes activity in foreign branches, as well