Trading Derivatives (assets and liabilities) and short positions

12 Months Ended

Dec. 31, 2022

Trading Derivatives And Short Positions [Abstract]

Trading Derivatives (assets and liabilities) and short positions

Trading Derivatives (assets and liabilities) and short positions

a) Trading Derivatives

The detail, by type of inherent risk, of the fair value of the trading derivatives arranged by the Group is as follows (see note 11):

EUR million
	2022		2021		2020
	Debit balance	Credit balance	Debit balance	Credit balance	Debit balance	Credit balance
Interest rate risk	38,789	37,641	31,884	30,192	43,832	41,085
Currency risk	26,391	26,063	19,823	21,894	21,162	22,028
Price risk	1,347	817	1,498	891	1,931	944
Other risks	475	370	1,087	589	212	412
	67,002	64,891	54,292	53,566	67,137	64,469

b) Short positions

Following is a breakdown of the short positions (liabilities):

EUR million
	2022	2021	2020
Borrowed securities
Debt instruments	1,979	825	625
Of which:
Banco Santander México, S.A., Institución de Banca Múltiple, Grupo Financiero Santander México	1,362	825	625
Banco Santander, S.A.	617	—	—
Equity instruments	993	389	289
Of which:
Banco Santander, S.A.	934	318	289
Short sales
Debt instruments	19,543	11,022	15,784
Of which:
Banco Santander, S.A.	12,902	8,926	8,645
Banco Santander (Brasil) S.A.	3,857	1,952	7,085
Pierpont Capital Holdings LLC	2,690	—	—
Equity instruments	—	—	—
	22,515	12,236	16,698