EN
PL
In the event of a change in the method of measuring assets or liabilities arising e.g. from losing (or gaining) the availability of quotations observed in an active market, such assets or liabilities are moved between Levels I and II.
Elements of assets or liabilities are moved between Levels II and III (respectively between Levels III and II) when:
- there is a change in the measurement model which results from the application of new unobservable (or, respectively, observable) factors, or
- the factors which had been used so far, the impact on the measurement of which is significant, cease to be (or, respectively, become) observable on the active market.
Transfers between levels of the fair value hierarchy are made at the end of each quarter, according to the value at that date.
In 2016, the following reclassifications between levels of fair value of assets were made:
- on 30 June 2016, a part of financial assets, whose fair value as at the date of reclassification amounted to PLN 2,600 million, was moved from Level I to Level II. Information concerning the reasons for reclassification has been presented in point 10.5.
- On 30 September 2016, one bond classified to the portfolio of assets available for sale in having the carrying amount of PLN 46 million was reclassified from Level III to Level I in relation to emergence of quotations on the active market.
In 2015, no significant movements between Levels I and II (and, respectively, between Levels II and I) occurred.
