13. Loans and receivables
The breakdown of the balance under this heading in the accompanying consolidated balance sheets, according to the nature of the financial instrument, is as follows:
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| Loans and Receivables | Notes | Millions of Euros | ||
|---|---|---|---|---|
| 2013 | 2012 | 2011 | ||
| Loans and advances to credit institutions | 13.1 | 22,862 | 25,448 | 24,503 |
| Loans and advances to customers | 13.2 | 323,607 | 342,163 | 342,543 |
| Debt securities | 13.3 | 4,476 | 3,736 | 2,870 |
| Total |
|
350,945 | 371,347 | 369,916 |
13.1 Loans and advances to credit institutions
The breakdown of the balance under this heading in the accompanying consolidated balance sheets, according to the nature of the financial instrument, is as follows:
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| Loans and Advances to Credit Institutions | Notes | Millions of Euros | ||
|---|---|---|---|---|
| 2013 | 2012 | 2011 | ||
| Reciprocal accounts |
|
132 | 265 | 78 |
| Deposits with agreed maturity |
|
5,901 | 5,987 | 7,102 |
| Demand deposits |
|
1,421 | 1,794 | 2,489 |
| Other accounts |
|
8,510 | 10,543 | 8,943 |
| Reverse repurchase agreements | 37 | 6,828 | 6,783 | 5,788 |
| Total gross | 7.1.1 | 22,792 | 25,372 | 24,400 |
| Valuation adjustments |
|
70 | 76 | 102 |
| Impairment losses | 7.1.7 | (40) | (29) | (38) |
| Accrued interests and fees |
|
110 | 106 | 140 |
| Hedging derivatives and others |
|
- | (1) | (1) |
| Total net |
|
22,862 | 25,448 | 24,503 |
13.2 Loans and advances to customers
The breakdown of the balance under this heading in the accompanying consolidated balance sheets, according to the nature of the financial instrument, is as follows:
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| Loans and Advances to Customers | Notes | Millions of Euros | ||
|---|---|---|---|---|
| 2013 | 2012 | 2011 | ||
| Mortgage secured loans | 7.1.2 | 125,564 | 137,870 | 129,536 |
| Other secured loans | 7.1.2 | 23,660 | 23,125 | 23,915 |
| Other loans |
|
109,600 | 115,667 | 117,353 |
| Credit lines |
|
11,166 | 13,854 | 14,924 |
| Commercial credit |
|
9,711 | 11,165 | 13,037 |
| Receivable on demand and other |
|
8,210 | 10,731 | 13,029 |
| Credit cards |
|
11,070 | 10,934 | 9,167 |
| Finance leases |
|
6,954 | 7,546 | 7,885 |
| Reverse repurchase agreements | 37 | 4,449 | 3,118 | 4,827 |
| Financial paper |
|
930 | 1,003 | 1,150 |
| Impaired assets | 7.1.7 | 25,445 | 19,960 | 15,416 |
| Total gross | 7.1 | 336,759 | 354,973 | 350,239 |
| Valuation adjustments |
|
(13,151) | (12,810) | (7,696) |
| Impairment losses | 7.1.7 | (14,950) | (14,115) | (9,091) |
| Accrued interests and fees |
|
953 | 227 | 392 |
| Hedging derivatives and others |
|
846 | 1,077 | 1,003 |
| Total net |
|
323,607 | 342,163 | 342,543 |
As of December 31, 2013, 28% of "Loans and advances to customers" with maturity greater than one year have with fixed-interest rates and 72% with variable interest rates.
The heading “Loans and advances to customers” includes those financial lease arrangements that any Group company has registered to assist customers in funding the acquisition of movable property or real estate. The breakdown of financial lease arrangements as of December 31, 2013, 2012 and 2011 is as follows:
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| Financial Lease Arrangements | Millions of Euros | ||
|---|---|---|---|
| 2013 | 2012 | 2011 | |
| Movable property | 4,095 | 4,273 | 4,634 |
| Real Estate | 2,859 | 3,273 | 3,251 |
| Fixed rate | 69% | 64% | 58% |
| Floating rate | 31% | 36% | 42% |
The heading “Loans and receivables – Loans and advances to customers” in the accompanying consolidated balance sheets also includes certain mortgage loans that, as mentioned in Note 35 and pursuant to the Mortgage Market Act, are linked to long-term mortgage-covered bonds. This heading also includes some loans that have been securitized. The balances recognized in the accompanying consolidated balance sheets corresponding to these securitized loans are as follows:
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| Securitized Loans | Millions of Euros | ||
|---|---|---|---|
| 2013 | 2012 | 2011 | |
| Securitized mortgage assets | 22,407 | 20,077 | 33,247 |
| Other securitized assets | 4,224 | 5,647 | 6,921 |
| Commercial and industrial loans | 2,330 | 3,241 | 3,303 |
| Finance leases | 301 | 433 | 594 |
| Loans to individuals | 1,518 | 1,877 | 2,942 |
| Rest | 75 | 96 | 82 |
| Total | 26,631 | 25,724 | 40,168 |
| Of which: |
|
|
|
| Liabilities associated to assets retained on the balance sheet (*) | 6,348 | 6,180 | 7,088 |
13.3 Debt securities
The breakdown of the balance under this heading in the accompanying consolidated balance sheets, according to the issuer of the debt security, is as follows:
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| Debt securities | Notes | Millions of Euros | ||
|---|---|---|---|---|
| 2013 | 2012 | 2011 | ||
| Government |
|
3,175 | 2,375 | 2,128 |
| Credit institutions |
|
297 | 453 | 461 |
| Other sectors |
|
1,009 | 923 | 291 |
| Total gross | 7.1 | 4,481 | 3,751 | 2,880 |
| Valuation adjustments | 7.1.7 | (5) | (15) | (11) |
| Total net |
|
4,476 | 3,736 | 2,870 |