Net income from financial instruments designated at fair value

Net income from financial instruments designated at fair value

  2011 2010
Derivative instruments1) (88 731) (104 809)
Debt securities 10 631 40 786
Equity instruments (612) 1 427
Structured bank securities designated at fair value through profit and loss1) 3 630 -
Other1) 26 19
Total (75 056) (62 577)

In the net income from financial instruments at fair value, position ‘Derivative instruments’, in financial year ended 31 December 2011, an ineffective portion related to cash flow hedges was recognised and it amounted to PLN (64 342) thousand (in financial year ended 31 December 2010, an ineffective portion related to cash flow hedges was recognised and it amounted to PLN (82 879) thousand).

2011 Gains Losses Net result
Trading assets 10 504 206 (10 592 619) (88 413)
Financial assets designated upon initial recognition at fair value through profit and loss 65 089 (51 732) 13 357
Total 10 569 295 (10 644 351) (75 056)


2010 Gains Losses Net result
Trading assets 8 472 769 (8 567 689) (94 920)
Financial assets designated upon initial recognition at fair value through profit and loss 54 192 (21 849) 32 343
Total 8 526 961 (8 589 538) (62 577)

The total change in fair values of financial instruments at fair value through profit and loss determined with use of valuation models (where no quotations from active market were available) in the year ended 31 December 2011 amounted to PLN (85 075)1 thousand (in the year ended 31 December 2010 PLN (104 790) 1) thousand) (LEVEL 2, Note 49).

1 The total amount of the items marked with 1) in the note 7 ‘Net income from financial instruments designated at fair value’.