Société Générale / Risk report 2021 - Pillar 3 2020

8 SECURITISATION SOCIETE GENERALE’S SECURITISATION ACTIVITIES | SOCIETE GENERALE GROUP | PILLAR 3 - 2021 161 SOCIETE GENERALE AS SPONSOR The Societe Generale group carries out transactions on behalf of its customers or investors. At 31 December 2020, there were two consolidated multi-seller vehicles in operation (Barton and Antalis), structured by the Group on behalf of clients. This ABCP (Asset-Backed Commercial Paper) activity funds the working capital requirements of some of the Group’s customers by backing short-term financing with traditional assets such as trade receivables or consumer loans. Total assets held by these vehicles and financed through the issuance of commercial paper amounted to EUR 14.4 billion at 31 December 2020 (EUR 14.2 billion at 31 December 2019). As part of the implementation of the new IFRS 10 standard on 1 January 2014, Societe Generale has consolidated these two vehicles, Barton and Antalis, from this date onwards. ABCP activity remained solid in 2020, with newly securitised outstanding amounts predominantly comprising trade receivables, leasing or consumer loans. SOCIETE GENERALE AS INVESTOR Societe Generale also acts as a market-maker for securitised assets, resulting in securitisation positions in the Group’s trading book. Since 31 December 2011, CRD3 has required the same prudential treatment regardless of prudential classification. The following tables show the securitisation exposures retained or purchased by the Group by type of underlying assets, by region, by type of tranche, separately for the banking book and for the trading book. These tables only feature the exposures with an impact on the Group’s regulatory capital. TABLE 77: AMOUNTS OF SECURITISED EXPOSURES BY TYPE OF UNDERLYING ASSETS (In EURm) 31.12.2020 Banking Book Trading Book Traditional transactions Synthethic transactions Traditional transactions Synthethic transactions Underlying assets Originator Sponsor Originator Sponsor Originator Sponsor Originator Sponsor Residential mortgages - 181 - - - - - - Commercial mortgages - 84 - - - - - - Credit card receivables - 2,302 - - - - - - Leasing - 1,396 - - - - - - Loans to corporates and SMEs 1,969 2,299 15,703 - - - - - Consumer loans - 7,622 - - - - - - Trade receivables - 6,845 - - - - - - Other assets - 998 - - - - - - Covered bonds - - - - - - - - Other liabilites - - - - - - - - TOTAL 1,969 21,727 15,703 - - - - -