44. Net gains (losses) on financial assets and liabilities (net)

The breakdown of the balance under this heading, by source of the related items, in the accompanying consolidated income statements is as follows:

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Gains (Losses) on Financial Assets and Liabilities Breakdown by Heading of the Balance Sheet	Millions of Euros
	2013	2012	2011
Financial assets held for trading	540	653	1,004
Other financial assets designated at fair value through profit or loss	49	69	17
Other financial instruments not designated at fair value through profit or loss	1,019	914	50
Available-for-sale financial assets	1,046	801	80
Loans and receivables	126	51	27
Others	(153)	62	(57)
Total	1,608	1,636	1,070

The breakdown of the balance under this heading in the accompanying income statements by the nature of financial instruments is as follows:

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Gains (Losses) on Financial Assets and Liabilities Breakdown by Nature of the Financial Instrument	Millions of Euros
	2013	2012	2011
Debt instruments	1,167	1,101	452
Equity instruments	883	(51)	(326)
Loans and advances to customers	46	38	31
Derivatives	(444)	591	839
Customer deposits	13	30	4
Others	(56)	(73)	70
Total	1,608	1,636	1,070

The breakdown of the balance of the impact of the derivatives (trading and hedging) under this heading in the accompanying consolidated income statements is as follows:

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Derivatives Trading and Hedging	Millions of Euros
	2013	2012	2011
Trading derivatives
Interest rate agreements	139	473	(195)
Security agreements	(596)	(63)	827
Commodity agreements	(1)	(12)	42
Credit derivative agreements	(59)	(47)	(15)
Foreign-exchange agreements	122	66	256
Other agreements	31	7	4
Subtotal	(364)	424	919
Hedging Derivatives Ineffectiveness
Fair value hedging	(98)	167	(31)
Hedging derivative	(877)	(464)	(111)
Hedged item	779	631	80
Cash flow hedging	18	-	(49)
Subtotal	(80)	167	(80)
Total	(444)	591	839

In addition, in 2013, 2012 and 2011, under the heading “Exchange differences (net)” of the income statement, net amounts of positive €137 million, positive €373 million and positive €5 million, respectively, were recognized for transactions with foreign exchange trading derivatives.