17. Gains/(losses) on financial transactions
PKO Annual
Report Online
2020
Report Online
2020
Accounting policies
The net gain/(loss) on financial transactions includes gains and losses arising from disposal of financial instruments designated as financial assets / liabilities measured at fair value through profit or loss and the effect of their measurement at fair value. This item also includes the ineffective portion of cash flow hedges in the case of hedging strategies in which IRS contracts are the hedging instrument, as well as gains and losses on the hedging instrument and hedged item relating to the hedged risk (fair value hedges).
Financial information
| GAINS/(LOSSES) ON FINANCIAL TRANSACTIONS | 2020 | 2019 |
|---|---|---|
| Financial instruments held for trading, of which: | 43 | 93 |
| Derivative instruments | 29 | 96 |
| Financial instruments not held for trading, measured at fair value through profit or loss, of which: | (148) | 80 |
| Loans and advances to customers | (157) | (58) |
| Hedge accounting | 3 | 2 |
| Total | (102) | 175 |
| including the impact of macroeconomic variables on the loan portfolio | 48 | – |