23. Financial instruments designated upon initial recognition at fair value through profit and loss

By carrying amount  31.12.2015 31.12.2014
Debt securities 13 337 373 13 804 860
issued by central banks, NBP money market bills 10 036 898 10 998 812
issued by the State Treasury, of which: 3 052 701 2 478 708
Treasury bonds PLN 1 934 817 2 452 213
Treasury bonds EUR 91 634 -
Treasury bonds CHF 993 615 -
Treasury bonds UAH 32 635 26 495
issued by local government bodies, of which: 247 263 253 817
municipal bonds EUR 131 341 139 882
municipal bonds PLN 115 922 113 935
issued by non-financial institutions, corporate bonds PLN 511 511
issued by banks, structured bonds PLN - 73 012
Participation units in ICF (insurance capital funds) related to insurance products belonging to the group of products where the investment risk is borne by the policyholder 1 816 727 1 918 288
Total 15 154 100 15 723 148

Debt securities by nominal value 31.12.2015 31.12.2014
Treasury notes NBP PLN 10 040 000 11 000 000
Treasury bonds PLN 1 916 493 2 371 934
Treasury bonds EUR 98 015 -
Treasury bonds CHF 984 850 -
Treasury bonds UAH 11 192 15 497
municipal bonds EUR 106 538 106 558
municipal bonds PLN 100 000 100 000
Corporate bonds PLN 500 500
Structured bonds PLN - 74 141

The average yield on debt securities issued by the State Treasury 31.12.2015 31.12.2014
  0.9975% 1.9612%

Change in financial instruments designated
upon initial recognition at fair value
through profit and loss
2015 2014
Balance at the beginning of the period 15 723 148 15 204 756
Take of control over subsidiary - 5 599 561
Currency translation differences (56 020) (5 792)
Increases 586 857 662 637 674 906
Decreases (587 480 734) (642 818 356)
Change in fair value 110 044 68 073
Balance at the end of the period 15 154 100 15 723 148

As at 31 December 2015 and as at 31 December 2014 in the Group’s portfolio there were no financial assets upon initial recognition at fair value through profit and loss as collateral for liabilities from sell-buy-back (Treasury bonds) and related liabilities.

As at 31 December 2015 and as at 31 December 2014 the Group did not have any transferred financial assets, which are derecognised from the statement of financial position in their entirety, but the Bank continues involvement in those assets.

As at 31 December 2015 up to 1 month 1 - 3
months
3 months -
1 year
1 - 5 years over 5 years Total
Debt securities            
issued by central banks 10 036 898 - - - - 10 036 898
issued by the State Treasury 36 072 5 992 371 951 2 262 929 375 757 3 052 701
issued by local government bodies - - - 247 263 - 247 263
issued by non-financial institutions - 511 - - - 511
Total 10 072 970 6 503 371 951 2 510 192 375 757 13 337 373

As at 31 December 2014 up to 1 month 1 - 3
months
3 months -
1 year
1 - 5 years over 5 years Total
Debt securities            
issued by central banks 10 998 812 - - - - 10 998 812
issued by the State Treasury 411 437 - 150 515 1 441 084 475 672 2 478 708
issued by local government bodies - - - 253 817 - 253 817
issued by banks 10 124 14 068 48 820 - - 73 012
issued by non-financial institutions - - - 511 - 511
Total 11 420 373 14 068 199 335 1 695 412 475 672 13 804 860