Company: BBVXF
Filing Date: 2025-08-12
Form Type: DRS
Source: 0000950123-25-007520
Chunk: 648

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-08-12
Form: DRS
Chunk 648
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 issuance of mortgage covered bonds, public sector covered bonds, TSB covered bonds and long-term asset-backed securities (see Note 20 and Schedule II). The remaining pledged assets are debt securities which are submitted in transactions involving assets sold under repurchase agreements, pledged collateral (loans or debt instruments) to access certain funding operations with central banks and all types of collateral provided to secure derivative transactions. The issuing entity Banco Sabadell did not issue any public sector covered bonds in either 2023 or 2022. The Group has used part of its portfolio of loans and similar credit in fixed-income securities by transferring assets to various securitisation funds created for this purpose. Under current regulations, securitisations in which there is no significant risk transfer cannot be derecognised from the balance sheet. The balance of the financial assets securitised under these programmes by the Group, as well as other financial assets transferred, depending on whether they have been derecognised or retained in full on the consolidated balance sheet, as at 31 December 2023 and 2022, is as follows:

| Thousand euro                              |     |      |           |     |      |           |
|                                            |     | 2023 |           |     | 2022 |           |
| Fully derecognised from the balance sheet: |     |      |   568,975 |     |      |   693,853 |
| Securitised mortgage assets                |     |      |   111,624 |     |      |   116,868 |
| Other securitised assets                   |     |      |   228,671 |     |      |   319,468 |
| Other financial assets transferred         |     |      |   228,680 |     |      |   257,517 |
| Fully retained on the balance sheet:       |     |      | 7,446,823 |     |      | 7,753,225 |
| Securitised mortgage assets                |     |      | 6,394,928 |     |      | 7,087,569 |
| Other securitised assets                   |     |      | 1,051,894 |     |      |   665,656 |
| Total                                      |     |      | 8,015,798 |     |      | 8,447,078 |

The assets and liabilities associated with securitisation funds of assets originated after