20.3 Hedging reserve

Year ended
December 31, 2020
Year ended
December 31, 2019
AS AT JANUARY 1 (323) (52)
Change in hedging reserve, including: 383 (336)
Measurement of hedging instruments, including: 387 (336)
Recognition of the effective portion of change in fair value of hedging financial instruments in the part considered as effective hedge 420 (438)
Accrued interest on derivatives transferred from hedging
reserve and recognised in interest expense
17 3
Currency revaluation of CCIRS transaction transferred from hedging reserve and recognised in foreign exchange gains/losses (51) 91
Ineffective portion of change in fair value of hedging derivatives recognised in profit or loss 1 8
Measurement of other financial instruments (4)
Deferred tax (73) 65
HEDGING RESERVE AFTER DEFERRED TAX (13) (323)

The hedging reserve includes mainly valuation of hedging instruments to which cash flow hedge accounting is applied.

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