EN
PL
In order to provide more accurate determination of the fair value, since 30 June 2016, in the case of a part of the financial assets (mainly debt financial instruments listed on foreign markets), the fair value is determined based on the valuations published by an authorized information service, and not based on the quotations from the interbank market, as it used to be. PZU Group decided that due to the low interbank market activity, the change of the measurement source allows for including in the fair value measurement the broader scope of information about transactions and offers from a large number of markets on which the given financial instrument is quoted. Assets for which measurement source had changed were reclassified from Level I to II of the fair value.
As a result of the reassessment of the models applied to determine the fair value with the use of the discounted cash flows, PZU Group decided to qualify the instruments measured with these models to Level III of the fair value, and not to Level II, as it used to be. The data for the compared periods have been appropriately restated.
In 2015, there were no changes introduced to the method of determining fair value of financial instruments measured at fair value, the value of which would be significant from the condensed interim consolidated financial statements perspective.
