If the method of measurement of assets or liabilities changes because of e.g. losing (or obtaining) access to quotations observed on an active market, such assets or liabilities are reclassified between Levels I and II.
Assets or liabilities are reclassified between Levels II and III (or accordingly between Levels III and II) when:
Reclassifications between different levels of the fair value hierarchy are effected on the date ending each quarter according to the value as at that date.
In 2017, PLN-denominated treasury bonds, for which active market quotations were available, were reclassified from Level II to Level I. As at 31 December 2017, the carrying amount of the reclassified bonds was PLN 612 million.
In 2016, the following reclassifications of assets between fair value levels were made: