89 FINANCIAL ASSETS AT AMORTISED COST: LOANS AND RECEIVABLES DUE FROM CUSTOMERS Performing assets Assets subject to 12-month ECL (Stage1) Assets subject to lifetime ECL (Stage 2) Impaired assets (Stage 3) Total (in thousands of euros) Gross book value Impairment for credit losses Gross book value Impairment for credit losses Gross book value Impairment for credit losses Gross carrying amount (a) Impairment for credit losses (b) Net book value (a) + (b) As at 1 January 3,300,795 -958 35,101 -602 10,712 -8,674 3,346,608 -10,234 3,336,374 Transfers of assets during their lifetime from one stage to another 22,559 1 -23,529 89 970 -178 - -88 Transfers from Stage 1 to Stage 2 -7,699 20 7,699 -20 - - Transfers from Stage 2 to Stage 1 30,368 -20 -30,368 20 - - Transfers to Stage 3(1) -110 1 -860 89 970 -178 - -88 Transfers from Stage 3 to Bucket 2/Bucket 1 - - Total after transfers 3,323,354 -957 11,572 -513 11,682 -8,852 3,346,608 -10,322 3,336,286 Changes in gross book values and value adjustments for losses 389,402 298 -6,319 440 -3,587 2,383 379,496 3,121 New production: purchase, grant, origination, etc. (2) 2,123,104 -581 3,368 -399 2,126,472 -980 Derecognition: sale, redemption, expiration, etc. -1,760,383 882 -9,687 840 -1,720 672 -1,771,790 2,394 Write-offs -1,867 1,867 -1,867 1,867 Changes in cash flows on loans restructured due to financial difficulties - - Changes in credit risk inputs of models over the period -152 - -152 Changes in the model / methodology - - Scope changes - - Other 26,681 -3 -1 - -4 26,681 -8 Total 3,712,756 -659 5,253 -73 8,095 -6,469 3,726,104 -7,201 3,718,903 Changes in book value attributable to specific accounting valuation terms (with no significant impact on the value adjustment) (3) -9,348 2 105 -9,241 - As at 31 December 2021 3,703,408 -659 5,255 -73 8,200 -6,469 3,716,863 -7,201 3,709,662 Outstanding amounts of financial assets under contracts that were written off during the period and are still subject to enforcement measures (1) Transfers to Stage 3 correspond to assets initially classified in Stage 1, which were downgraded directly to Stage 3 or those downgraded to Stage 2 and then Stage 3 during the year. (2) Originated loans in Stage 2 may include assets initially classified in Stage 1 which were reclassified to Stage 2 during the period. (3) Includes variations in fair value adjustments of micro-hedged instruments, variations relating to use of the EIR method (notably the amortisation of premiums/discounts), and variations relating to the accretion of discounts on restructured loans (restated as NBI over the remaining term of the asset), and variations in the related receivables.
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