financial statements 2013

11. Other financial assets and liabilities at fair value through profit or loss

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The breakdown of the balance under these headings in the accompanying consolidated balance sheets is as follows:

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Other Financial Assets Designated at Fair Value through Profit or Loss.
Breakdown by Type of Instruments
Millions of Euros
2013 2012 2011

Debt securities 663 753 708
Unit-linked products 161 145 113
Other securities 503 608 595
Equity instruments 1,750 1,777 2,065
Unit-linked products 1,689 1,727 1,473
Other securities 60 50 592
Total 2,413 2,530 2,773

Other financial liabilities 2,467 2,216 1,621
Unit-linked products 2,467 2,216 1,621
Total 2,467 2,216 1,621

As of December 31, 2013, 2012 and 2011 the most representative balance within other financial assets and liabilities at fair value through profit and loss related to assets and liabilities linked to insurance products where the policyholder bears the risk ("Unit -Link"). This type of product is sold only in Spain, through BBVA Seguros SA, insurance and reinsurance and Unnim Vida SA, insurance and reinsurance, and in Mexico through Seguros Bancomer SA de CV.

Since the liabilities linked to insurance products in which the policyholder assumes the risk are valued the same way as the assets associated to these insurance products, there is no credit risk component bore by the Group in relation to these liabilities.