Financial instruments measured at fair value through profit or loss include:
The rules of measurement to fair value are described in section 9.1. The effect of the change in measurement of financial instruments at fair value, including related interest income and changes in liabilities under investment contracts for the client’s account and risk are recognized under “Net movement in fair value of assets and liabilities measured at fair value” in the period to which they relate.
Derivatives are recognized at fair value on the transaction date and subsequently measured at fair value in accordance with the rules described in section 9.1.3.
Derivatives are recognized as financial assets if their fair value is positive or as financial liabilities if it is negative.
Changes of fair value of derivatives that are not hedges are recognized under “Net movement in fair value of assets and liabilities at fair value”.
As at 31 December 2017 and 31 December 2016, PZU Group companies were not parties to agreements including embedded derivatives whose character and related risks were not closely linked to the base agreement.
|Financial assets at fair value through profit or loss||31 December 2017||31 December 2016|
|Assets classified into this category upon first recognition||6,650||14,479|
|Quoted on a regulated market||1,781||2,830|
|Not quoted on a regulated market||166||121|
|Quoted on a regulated market||39||91|
|Assets held for trading||15,597||7,403|
|Quoted on a regulated market||562||744|
|Not quoted on a regulated market||4,055||3,322|
|Quoted on a regulated market||175||-|
|Not quoted on a regulated market||102||73|
|Total financial assets measured at fair value through profit or loss||22,247||21,882|
Additional information on exposure to derivatives and associated risks is presented in section 7.5.3