4. LA CRIMINALIDAD DE LA EMPRESA
5.3. Régimen legal de 2015
5.3.2. Interpretación de los artículos 31 ter y quater
DATE ISSUE INITIAL AMOUNTBOUGHT
OUTSTANDING AMOUNT AT
31/12/2011 31/12/2010
February 2001 FonCaixa Hipotecario 2 - FTH 600,000 72,381 90,934
Preference bonds - Aaa 580,500 52,881 71,434 Subordinated bonds -Aa2 19,500 19,500 19,500
July 2001 FonCaixa Hipotecario 3 - FTH 1,500,000 373,084 426,283
Preference bonds - Aaa 1,432,500 305,584 358,783 Subordinated bonds - A2 67,500 67,500 67,500
December 2001 FonCaixa Hipotecario 4 - FTH 600,000 143,063 164,598
Preference bonds - Aaa 583,200 126,263 147,798 Subordinated bonds - A1 16,800 16,800 16,800
October 2002 FonCaixa Hipotecario 5 - FTH 600,000 196,980 221,625
Preference bonds - Aaa 585,000 181,980 206,625 Subordinated bonds - A1 15,000 15,000 15,000
December 2002 FonCaixa Hipotecario 6 - FTH 600,000 216,081 239,266
Preference bonds - AAA (*) 582,000 198,081 221,266 Subordinated bonds -AA- (*) 18,000 18,000 18,000
March 2003 GC FTGENCAT II, FTA 32,000 0 9,404
Preference bonds - Aaa 23,300 0 704
Subordinated bonds - Aaa 4,600 0 4,600
Subordinated bonds - A1 4,100 0 4,100
September 2003 FonCaixa Hipotecario 7 - FTH 1,250,000 526,470 581,451
Preference bonds - Aaa 1,220,000 496,470 551,451 Subordinated bonds - A2 30,000 30,000 30,000
November 2003 FonCaixa FTPYME 1, FTA 376,500 0 49,980
Preference bonds - Aaa 330,900 0 4,380
Subordinated bonds - Aa3 37,800 0 37,800
Subordinated bonds - Baa2 7,800 0 7,800
Bonds shown in the consolidated balance sheet 5,558,500 1,528,059 1,783,541
March 2005 FonCaixa Hipotecario 8 - FTH 1,000,000 486,439 537,441
Preference bonds - Aaa 971,000 457,439 508,441 Subordinated bonds - A1 22,500 22,500 22,500 Subordinated bonds - Baa2 6,500 6,500 6,500
November 2005 FonCaixa FTGENCAT 3, FTA 25,000 25,000 25,000
Subordinated bonds - Aa3 10,700 10,700 10,700 Subordinated bonds - Baa2 7,800 7,800 7,800
Subordinated bonds - Ba2 6,500 6,500 6,500
March 2006 FonCaixa Hipotecario 9 - FTH 1,500,000 722,742 818,765
Preference bonds - Aaa 1,463,200 685,942 781,965 Subordinated bonds - A1 29,200 29,200 29,200 Subordinated bonds - Baa2 7,600 7,600 7,600
July 2006 FonCaixa FTGENCAT 4, FTA 22,800 18,433 22,800
Subordinated bonds - A2 9,600 7,565 9,600
Subordinated bonds - Ba1 7,200 5,674 7,200
Subordinated bonds - B3 6,000 5,194 6,000
May 2007 FonCaixa Hipotecario 10 - FTH 1,500,000 904,495 1,015,668
Preference bonds - Aaa 1,458,000 862,495 973,668 Subordinated bonds - Aa3 30,000 30,000 30,000 Subordinated bonds - Baa2 12,000 12,000 12,000
Securitization bonds bought
(Thousands of Euros)DATE ISSUE INITIAL AMOUNTBOUGHT
OUTSTANDING AMOUNT AT
31/12/2011 31/12/2010
November 2007 FonCaixa FTGENCAT 5, FTA 550,600 154,611 259,528
Preference bonds - Aaa 513,100 117,111 222,028 Subordinated bonds - A3 21,000 21,000 21,000 Subordinated bonds - Ba1 16,500 16,500 16,500
July 2008 FonCaixa FTGENCAT 6, FTA 458,800 142,404 217,220
Preference bonds - AAA (*) 436,300 119,904 194,720 Subordinated bonds - A (*) 15,000 15,000 15,000 Subordinated bonds - BBB (*) 7,500 7,500 7,500
November 2008 FonCaixa FTPYME 2, FTA 1,100,000 577,255 1,100,000
Preference bonds - Aaa 990,000 467,255 990,000 Subordinated bonds - A3 27,500 27,500 27,500 Subordinated bonds - Baa3 82,500 82,500 82,500
February 2009 FonCaixa ICO FTVO 1, FTA 514,400 428,305 462,338
Preference bonds - Aaa 478,000 391,905 425,938 Subordinated bonds - Aa1 20,800 20,800 20,800 Subordinated bonds - A3 15,600 15,600 15,600
March 2009 FonCaixa EMPRESAS 1, FTA 6,000,000 3,585,330 5,534,477
Preference bonds - Aaa 5,235,000 2,820,330 4,769,477 Subordinated bonds - Baa3 285,000 285,000 285,000 Subordinated bonds - Ba3 480,000 480,000 480,000
October 2009 FonCaixa FTGENCAT 7, FTA 1,000,000 681,653 1,000,000
Preference bonds - Aaa 870,000 551,653 870,000 Subordinated bonds - A3 25,000 25,000 25,000 Subordinated bonds - Baa3 105,000 105,000 105,000
October 2009 A y T VPO II, FTA 21,000 17,528 19,291
Preference bonds - AAA (**) 18,893 15,421 17,184 Subordinated bonds - A (**) 1,112 1,112 1,112
Subordinated bonds - BBB (**) 995 995 995
March 2010 FonCaixa Andalucía FTEMPRESA1, FTA 500,000 379,374 500,000
Preference bonds - Aaa 410,000 289,374 410,000 Subordinated bonds - Aa3 25,000 25,000 25,000 Subordinated bonds - A3 65,000 65,000 65,000
July 2010 FonCaixa Hipotecario 11, FTA 6,500,000 5,929,355 6,365,198
Preference bonds - Aaa 6,110,000 5,539,355 5,975,198 Subordinated bonds - A1 97,500 97,500 97,500 Subordinated bonds - B1 292,500 292,500 292,500
November 2010 Foncaixa Empresas 2, FTA 1,850,000 1,850,000 1,850,000
Preference bonds - Aaa 416,300 416,300 416,300 Subordinated bonds - Aaa 1,248,700 1,248,700 1,248,700 Subordinated bonds - A3 185,000 185,000 185,000
March 2011 Foncaixa Empresas 3, FTA 1,400,000 1,400,000 0
Preference bonds - Aaa 300,000 300,000 Subordinated bonds - Aaa 820,000 820,000 Subordinated bonds - B2 280,000 280,000
June 2011 Foncaixa Leasings 1, FTA 1,420,000 1,420,000 0
Preference bonds - Aaa 470,000 470,000 Subordinated bonds - Aaa 737,500 737,500 Subordinated bonds - B1 106,200 106,200 Subordinated bonds - B3 106,300 106,300
July 2011 Foncaixa Autónomos 1, FTA 1,130,000 1,100,452 0
Preference bonds - Aaa 960,500 930,952 Subordinated bonds - Baa3 169,500 169,500
Securitization bonds bought
(Thousands of Euros)DATE ISSUE INITIAL AMOUNTBOUGHT
OUTSTANDING AMOUNT AT
31/12/2011 31/12/2010
December 2011 Foncaixa Consumo 1, FTA 3,080,000 3,080,000 0
Preference bonds - Aaa 2,618,000 2,618,000 Subordinated bonds - Ba3 462,000 462,000
Bonds eliminated on consolidation 29,572,600 22,903,376 19,727,726
Total 35,131,100 24,431,435 21,511,267
Note: The bond credit risk ratings are by Moody's. (*) Credit risk rating by Standard & Poor’s.
(**) Funds from the merger with Caixa d’Estalvis de Girona.
At December 31, 2011, the securitization bonds pledged with the Bank of Spain amounted to €10,397 million. At December 31, 2010, this figure was €10,204 million.
28.3. Securities deposits and investment services
The detail, by type, of the securities deposited by customers with ”la Caixa” and other Group companies is as follows:
(Thousands of Euros) 31/12/2011 31/12/2010
Book entries 125,368,074 100,831,879
Securities recorded in the market’s central book-entry office 94,082,141 70,081,669
Equity instruments - listed 44,678,618 31,116,689
Equity instruments - unlisted 759,387 2,559,872
Debt instruments - listed 48,644,136 36,405,108
Securities registered at the entity 2,607,366 2,788,217
Debt instruments - listed 2,607,366 2,788,217
Securities entrusted to other depositaries 28,678,567 27,961,993
Equity instruments - listed 12,171,992 4,698,493
Equity instruments - unlisted 4,459 4,188
Debt instruments - listed 16,291,006 22,942,382
Debt instruments - unlisted 211,110 316,930
Securities 3,482,449 62,816
Held by the institution 3,482,032 62,304
Equity instruments 3,481,888 48,498
Debt instruments 144 13,806
Entrusted to other entities 417 512
Equity instruments 417 512
Other financial instruments 2,122,122 1,867,936
Total 130,972,645 102,762,631
At December 31, 2011 and 2010 no companies in the consolidable group other than CaixaBank were carrying out securities deposits and investment services.
Quoted securities are recognized at market value in memorandum accounts, and unquoted securities are recognized at nominal amount.
28.4. Financial assets derecognized due to impairment
The changes in 2011 and 2010 to items derecognized from the accompanying consolidated balance sheet because recovery was deemed to be remote are summarized below. These financial assets are recognized under “Suspended assets” in the memorandum accounts supplementing the accompanying consolidated balance sheet.
(Thousands of Euros) 2011 2010
Balance at the beginning of the year 2,326,968 1,388,134
Additions: 1,059,160 1,511,144
With a charge to impairment losses 762,950 944,690
With a direct charge to the income statement 806 261,256
Other(*) 251,511 201,535
Business combinations(**) 43,893 103,663
Reductions: (578,175) (572,310)
Cash recovery of principal(Note 37) (90,490) (53,687)
Cash recovery of past-due receivables (11,686) (8,235)
Forgiveness or expiry (32,956) (510,352)
Disposal of NPLs (443,043)
Other (36)
Balance at the end of the year 2,807,953 2,326,968
(*) Primarily includes interest on financial assets at the time of derecognition from the consolidated balance sheet. (**) “Suspended assets” from the merger with Bankpime and Caixa d’Estalvis de Girona.
On December 20, 2011, the ”la Caixa” Group sold part of the financial assets de-recognized from the balance sheet to Frontera Capital, SARL, an entity specializing in managing problem assets. A gross gain of €15,690 thousand (€8,851 thousand attributable to the Group) was generated through this transaction, which is recognized under “Impairment losses on financial assets (net) – Loans and receivables” on the accompanying consolidated income statement (see Note 37).
28.5. Geographic distribution of business volume
Since all CaixaBank branches until the reorganization of the ”la Caixa” Group described in Note 1 and CaixaBank branches thereafter offer their customers the full range of products and services, the breakdown of business volume below is by branches by Spanish Autonomous Community, country and foreign representative offices at December 31, 2011 and January 1, 2011:
AUTONOMOUS REGIONS AND CITIES
31/12/2011 01/01/2011
NO. OF BRANCHES % NO. OF BRANCHES %
Andalusia 637 12.26 656 12.13 Aragón 93 1.79 92 1.70 Asturias 75 1.44 78 1.44 Balearic Islands 243 4.68 246 4.55 Canary Islands 155 2.98 155 2.87 Cantabria 49 0.94 49 0.91 Castile-La Mancha 130 2.50 131 2.42 Castile-Leon 241 4.64 264 4.88 Catalonia 1,702 32.76 1,851 34.22 Ceuta 4 0.08 4 0.07 Valencia 456 8.78 464 8.58 Extremadura 84 1.62 86 1.59 Galicia 197 3.79 197 3.64 La Rioja 28 0.54 28 0.52 Madrid 719 13.84 724 13.39 Melilla 2 0.04 2 0.04 Murcia 130 2.50 131 2.42 Navarre 55 1.06 55 1.02 Basque Country 182 3.50 183 3.38
Total branches in Spain 5,182 99.73 5,396 99.76 Foreign branches
Poland (Warsaw) 1 0.02 1 0.02
Romania (Bucharest) 1 0.02 1 0.02
Morocco (Casablanca) 1 0.02 1 0.02
Total foreign branches 3 0.06 3 0.06
Representative offices: Germany (Stuttgart) 1 0.02 1 0.02 Germany (Frankfurt)(*) 1 0.02 1 0.02 China (Peking) 1 0.02 1 0.02 China (Shanghai) 1 0.02 1 0.02 UAE (Dubai) 1 0.02 1 0.02 France (Paris) 1 0.02 1 0.02
India (New Delhi) 1 0.02 1 0.02
Italy (Milan) 1 0.02 1 0.02
UK (London) 1 0.02 1 0.02
Singapore (Singapore) 1 0.02 0 0.00
Turkey (Istanbul) 1 0.02 1 0.02
Total representative offices 11 0.21 10 0.18
Total branches 5,196 100.00 5,409 100,00
29. Interest and similar income
This item in the consolidated income statement includes the interest earned during the year on financial assets with implicit or explicit returns obtained by applying the effective interest method, along with the adjustments to income arising from hedging transactions.
The breakdown in the accompanying consolidated income statement for the years ended December 31, 2011 and 2010, by type of financial transaction, is as follows:
(Thousands of Euros) 2011 2010
Central banks 32,152 28,521
Credit institutions 57,594 44,960
Loans and advances to customers and other finance income 5,853,209 5,294,108
Debt instruments 1,666,851 1,583,459
Adjustments to income due to hedging transactions (28,750) (35,184)
Total 7,581,056 6,915,864
The returns earned on debt instruments are added to the value of assets under “Held-for-trading portfolio”, “Available-for-sale financial assets” and “Loans and receivables” in the accompanying consolidated balance sheet.
30. Interest expense and similar charges
This item in the accompanying consolidated income statement includes interest accruing in the year on financial liabilities with implicit or explicit returns, including the interest arising from payments in kind, calculated by applying the effective interest method, along with the cost adjustments arising from hedging transactions and the cost due to interest attributable to existing pension funds.
The breakdowns of this item in the accompanying income statement for 2011 and 2010, by types of financial transaction, are as follows:
(Thousands of Euros) 2011 2010
Central banks (30,492) (30,914)
Credit institutions (247,755) (196,777)
Money market transactions through counterparties (136,522) (14,327)
Customer deposits and other finance costs (2,244,660) (1,814,115)
Marketable debt securities (1,635,745) (1,469,910)
Subordinated liabilities (496,739) (434,300)
Adjustments to expenses as a consequence of hedging
transactions 976,004 1,114,049
Interest cost attributable to pension fund(Note 23) (8,860) (13,525)
Finance cost of insurance products (1,009,795) (903,693)
31. Return on equity instruments
The breakdowns of this item in the accompanying consolidated income statement for the years ended December 31, 2011 and 2010 are as follows:
(Thousands of Euros) 2011 2010
Bolsas y Mercados Españoles SHMSF, SA 8,261 8,261
Repsol-YPF, SA(1) 137,073
Telefónica, SA 356,162 297,721
Other 12,762 16,963
Total 377,185 460,018
(1) Following the reorganization of the ”la Caixa” Group (see Note 1c), Repsol YPF, SA is now considered an associate.
32. Fees and commissions
The main fee and commission income and expenses recognized in the accompanying consolidated income statement for 2011 and 2010, by type of non-financial services, are as follows: