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
	2012	2011	2010
Financial assets held for trading	649	1,052	640
Other financial assets designated at fair value through profit or loss	73	8	18
Other financial instruments not designated at fair value through profit or loss	923	57	714
Available-for-sale financial assets	806	82	652
Loans and receivables	55	33	25
Rest	62	(58)	37
Total	1,645	1,117	1,372

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
	2012	2011	2010
Debt instruments	1,150	455	772
Equity instruments	(50)	(324)	(374)
Loans and advances to customers	46	37	33
Derivatives	545	876	845
Customer deposits	30	4	-
Rest	(76)	69	96
Total	1,645	1,117	1,372

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
	2012	2011	2010
Trading derivatives
Interest rate agreements	468	(208)	133
Security agreements	(65)	831	712
Commodity agreements	(3)	46	(5)
Credit derivative agreements	(49)	(11)	(63)
Foreign-exchange agreements	18	297	77
Other agreements	9	2	(1)
Subtotal	378	957	853
Hedging Derivatives Ineffectiveness
Fair value hedging	167	(31)	(8)
Hedging derivative	(464)	(112)	(127)
Hedged item	631	81	119
Cash flow hedging	-	(50)	-
Subtotal	167	(81)	(8)
Total	545	876	845

In addition, in 2012, 2011 and 2010, under the heading “Exchange differences (net)” of the income statement, net amounts of positive €373 million, positive €5 million and negative €287 million, respectively, were registered for transactions with foreign exchange trading derivatives.