§47 Annex V, Part 2 · ifrs18-2026-07amended

‘Gains or (-) losses from hedge accounting, net’ shall include gains and losses on hedging instruments and on hedged items affected by risks arising from the main business activities of a ‘retail and investment bank’ (IFRS 18, paragraphs B70-B71), including thosegains or losses on hedged items measured at fair value through other comprehensive income other than equity instruments, in a fair value hedge in accordance with IFRS 9.6.5.8. It shall also include the ineffective part of the variation of the fair value of the hedging instruments in a cash flow hedge. The reclassifications of the cash flow hedges reserve or of the reserve for hedges of net investment in a foreign operation shall be recognised in the same rows of the ‘Statement of profit or loss’ as those impacted by the cash flows from the hedged items. ‘Gains or (-) losses from hedge accounting, net’ shall include also the gains and losses from hedges of net investment in foreign operations. This item shall also include gains on hedges of net positions. Under IFRS, where gains or losses from hedge accounting refer to risks arising from the institution’s investing activities different from its main business activities, they shall be reported in the item ‘Gains or (-) losses from hedge accounting related to investing assets, net’.