Universal Registration Document 2019

68 LISI 2019 UNIVERSAL REGISTRATION DOCUMENT Consolidated financial statements 2 The portfolio of foreign exchange derivatives is broken down as follows: 12/31/2019 12/31/2018 Fair value (1) Notional amount (2) < 1 year from 1 to 5 years more than 5 years Fair value (1) Notional amount (2) < 1 year from 1 to 5 years more than 5 years Long position of GBP against USD 0.3 20.4 20.4 0.0 0.0 (2.1) 32.4 20.4 12.0 0.0 Long position of CAD against USD 0.2 24.0 24.0 0.0 0.0 (0.5) 36.0 24.0 12.0 0.0 Long position of TRY against EUR 0.0 0.0 0.0 0.0 0.0 (0.5) 21.4 21.4 0.0 0.0 Long position of PLN against USD 0.1 18.0 18.0 0.0 0.0 0.0 16.8 16.8 0.0 0.0 Long position of CZK against EUR 0.3 600.0 300.0 300.0 0.0 0.1 240.0 240.0 0.0 0.0 Long position EUR against USD (0.8) 147.0 117.0 30.0 0.0 2.8 178.9 111.9 67.0 0.0 TOTAL 0.0 (0.2) (1) Fair value amounts are expressed in millions of euros. (2) Maximum notional amounts are expressed in millions of currencies. 3.6.6  /  Commitments The Group draws up annually a detailed list of all contractual commitments, financial and commercial commitments, and contingent liabilities to which LISI S.A. and/or its subsidiaries are party or exposed. This list is regularly updated by the departments concerned and reviewed by GroupManagement. In order to ensure that the information on this list is complete, accurate and consistent, special control procedures have been implemented. including in particular: ■ the regular examination of the minutes of Shareholders’ General Meetings, Board Meetings, associated Committees that deal with contractual commitments, disputes and authorizations for the purchase or disposal of assets; ■ reviewof sureties andguarantees aswell as loanagreements and any other banking commitments, in conjunctionwith the banks and financial institutions; ■ review, together with both internal and external legal counsels, of dispute and legal proceedings before the courts, environmental questions, and the measurement of liabilities that might arise; ■ examination of tax inspectors’ reports and reassessment notices from previous financial years; ■ examination, together with those in charge of risk management, insurance brokers and agents of the insurance companies withwhich the Group has taken out its insurance policies to cover risks in respect of contingent liabilities; ■ examination of transactions with related parties in respect of guarantees or other commitments given or received; ■ in general, review of all contracts and contractual commitments. 3.6.6.1 - Commitments given in the context of ordinary operations The commitments given in the context of ordinary operations are as follows: In thousands of euros 2019 2018 Balance of investment orders 102,313 80,386 Guarantees and deposits 0 0 COMMITMENTS MADE 102,313 80,386 Swap rate 48,366 61,802 Foreign exchange hedging 199,115 235,507 RECIPROCAL COMMITMENTS 247,481 297,309 Reciprocal commitments Reciprocal commitments are interest rate swaps to hedge variable-rate loans taken out to fund external growth.