On the basis of the input data used for fair value measurement, individual assets and liabilities for which the fair value is presented, are classified to the following levels:
- Level I – financial assets and liabilities measured based on listed prices (unadjusted) from active markets for identical assets and liabilities.
- listed liquid debt instruments;
- listed shares;
- listed derivatives.
- Level II – assets and liabilities measured based on input data other than listed prices, classified to Level I, which can be directly (as prices) or indirectly (on the basis of prices) observed on the market.
- unlisted debt securities and non-liquid debt securities (including other than treasury debt securities issued by other financial entities, local government and entities from outside the financial sector);
- derivatives other than listed ones;
- investment property or property held for sale, measured with the use of the comparable method, including available development land and some smaller and less valuable buildings (such as residential premises, garages etc.);
- liabilities to participants in consolidated investment funds;
- Level III – assets measured based on input data unobserved on the existing markets (unobservable input data). This level includes:
- investment property or property held for sale, measured using the income method or the residual method;
- loan receivables from clients and liabilities to clients from deposits.
In a situation where input data classified into different levels of fair value hierarchy is used for measurement of asset or liability elements, the measured component is attributed to the lowest level, from which the input data originate, which have a significant impact on the overall measurement.
|Assets and liabilities measured at fair value as at 31 December 2015||Level I||Level II||Level III||Total|
|Financial assets available for sale||6,687,993||1,039,980||-||7,727,973|
|Financial instruments measured at fair value through profit or loss – classified as such upon initial recognition||13,107,367||138,093||-||13,245,460|
|Financial instruments measured at fair value through profit or loss – held for trading||3,341,659||4,061,284||-||7,402,943|
|Assets held for sale||-||89,808||1,413,4861)||1,503,294|
|Liabilities to participants of consolidated investment funds||-||656,449||-||656,449|
|Unit-linked investment contracts||-||392,914||-||392,914|
1) Decreased value of investment property results from classifying a part of properties as assets held for sale. Additional information about this matter is presented in Note 41
|Assets and liabilities measured at fair value as at 31 December 2014||Level I||Level II||Level III||Total|
|Financialassets available for sale||2,523,930||458,234||-||2,982,164|
|Financial instruments measured at fair value through profit or loss – classified as such upon initial recognition||12,503,393||67,744||-||12,571,137|
|Financial instruments measured at fair value through profit or loss – held for trading||2,990,261||3,535,086||-||6,525,347|
|Assets held for sale 1)||69,259||60,001||129,260|
|Liabilities to participants of consolidated investment funds||-||856,865||-||856,865|
|Unit-linked investment contracts||-||587,267||-||587,267|
1) Additional information concerning assets held for sale has been presented in Note 41
|Level III investment property||31 December 2015||31 December 2014|
|Level III investment property, total||1,054,416 1)||2,074,970|
1) Decreased value of investment property results from classifying a part of properties as assets available for sale. Additional information about this issue is presented in Note 41.
|Assets and liabilities whose fair value is disclosed as at 31 December 2015||Level I||Level II||Level III||Total|
|Entities measured using the equity method – EMC||55,283||-||-||55,283|
|Financial assets held to maturity||19,665,121||155,209||-||19,820,330|
|Loan receivables from clients||-||-||30,331,615||30,331,615|
|Liabilities to banks||-||475,809||124,831||600,640|
|Liabilities to clients||-||-||33,665,013||33,665,013|
|Liabilities arising from the issue of banking securities (Alior Bank)||2,301,507||2,301,507|
|Liabilities arising from the issue of own debt instruments||-||3,573,225||-||3,573,225|
|Subordinated liabilities (Alior Bank)||-||758,560||-||758,560|
|Investment contracts with guaranteed and fixed terms and conditions||-||152,502||-||152,502|
|Assets and liabilities whose fair value is disclosed as at 31 December 2014||Level I||Level II||Level III||Total|
|Entities measured using the equity method – EMC||52,737||52,737|
|Financial assets held to maturity||20,443,747||3,080,645||-||23,524,392|
|Debt instruments – loans portfolio||-||3,091,685||-||3,091,685|
|Liabilities arising from the issue of own debt instruments||-||2,180,294||-||2,180,294|
|Investment contracts with guaranteed and fixed terms and conditions||-||520,383||-||520,383|