Disclosure of offsetting of financial assets and financial liabilities [text block] |
NOTE 50: OFFSETTING OF FINANCIAL ASSETS AND LIABILITIES
The following information relates to financial assets and liabilities
which have been offset in the balance sheet and those which have not been offset but for which the Group has enforceable master
netting agreements or collateral arrangements in place with counterparties.
| |
| | |
| | |
| | |
Related amounts where set off in the balance sheet not permitted3 | |
Potential | |
At 31 December 2017 | |
Gross amounts
of assets and
liabilities1
£m | | |
Amounts offset
in the balance
sheet2
£m | | |
Net amounts
presented in
the balance
sheet
£m | | |
Cash collateral
received/
pledged
£m | | |
Non-cash
collateral
received/
pledged
£m | | |
net amounts
if offset
of related
amounts
permitted
£m | |
Financial assets | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Trading and other financial assets at fair value through profit or loss: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Excluding reverse repos | |
| 131,288 | | |
| – | | |
| 131,288 | | |
| – | | |
| (3,322 | ) | |
| 127,966 | |
Reverse repos | |
| 38,882 | | |
| (7,292 | ) | |
| 31,590 | | |
| – | | |
| (31,590 | ) | |
| – | |
| |
| 170,170 | | |
| (7,292 | ) | |
| 162,878 | | |
| – | | |
| (34,912 | ) | |
| 127,966 | |
Derivative financial instruments | |
| 72,869 | | |
| (47,035 | ) | |
| 25,834 | | |
| (5,419 | ) | |
| (13,807 | ) | |
| 6,608 | |
Loans and advances to banks: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Excluding reverse repos | |
| 5,840 | | |
| – | | |
| 5,840 | | |
| (2,293 | ) | |
| – | | |
| 3,547 | |
Reverse repos | |
| 771 | | |
| – | | |
| 771 | | |
| (646 | ) | |
| (125 | ) | |
| – | |
| |
| 6,611 | | |
| – | | |
| 6,611 | | |
| (2,939 | ) | |
| (125 | ) | |
| 3,547 | |
Loans and advances to customers: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Excluding reverse repos | |
| 457,382 | | |
| (1,716 | ) | |
| 455,666 | | |
| (1,656 | ) | |
| (7,030 | ) | |
| 446,980 | |
Reverse repos | |
| 16,832 | | |
| – | | |
| 16,832 | | |
| – | | |
| (16,832 | ) | |
| – | |
| |
| 474,214 | | |
| (1,716 | ) | |
| 472,498 | | |
| (1,656 | ) | |
| (23,862 | ) | |
| 446,980 | |
Debt securities | |
| 3,643 | | |
| – | | |
| 3,643 | | |
| – | | |
| – | | |
| 3,643 | |
Available-for-sale financial assets | |
| 42,098 | | |
| – | | |
| 42,098 | | |
| – | | |
| (16,751 | ) | |
| 25,347 | |
Financial liabilities | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Deposits from banks: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Excluding repos | |
| 6,629 | | |
| – | | |
| 6,629 | | |
| (4,860 | ) | |
| – | | |
| 1,769 | |
Repos | |
| 23,175 | | |
| – | | |
| 23,175 | | |
| – | | |
| (23,175 | ) | |
| – | |
| |
| 29,804 | | |
| – | | |
| 29,804 | | |
| (4,860 | ) | |
| (23,175 | ) | |
| 1,769 | |
Customer deposits: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Excluding repos | |
| 417,009 | | |
| (1,523 | ) | |
| 415,486 | | |
| (1,205 | ) | |
| (7,030 | ) | |
| 407,251 | |
Repos | |
| 2,638 | | |
| – | | |
| 2,638 | | |
| – | | |
| (2,638 | ) | |
| – | |
| |
| 419,647 | | |
| (1,523 | ) | |
| 418,124 | | |
| (1,205 | ) | |
| (9,668 | ) | |
| 407,251 | |
Trading and other financial liabilities at fair value through profit or loss: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Excluding repos | |
| 9,499 | | |
| – | | |
| 9,499 | | |
| – | | |
| – | | |
| 9,499 | |
Repos | |
| 48,670 | | |
| (7,292 | ) | |
| 41,378 | | |
| – | | |
| (41,378 | ) | |
| – | |
| |
| 58,169 | | |
| (7,292 | ) | |
| 50,877 | | |
| – | | |
| (41,378 | ) | |
| 9,499 | |
Derivative financial instruments | |
| 73,352 | | |
| (47,228 | ) | |
| 26,124 | | |
| (3,949 | ) | |
| (17,459 | ) | |
| 4,716 | |
| |
| | |
| | |
| | |
Related
amounts where set off in the balance sheet not permitted3 | |
Potential | |
At 31 December 2016 | |
Gross amounts
of assets and
liabilities1
£m | | |
Amounts offset
in the balance
sheet2
£m | | |
Net amounts
presented in
the balance
sheet
£m | | |
Cash collateral
received/
pledged
£m | | |
Non-cash
collateral
received/
pledged
£m | | |
net amounts
if offset
of related
amounts
permitted
£m | |
Financial assets | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Trading and other financial assets at fair value through profit or loss: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Excluding reverse repos | |
| 118,095 | | |
| – | | |
| 118,095 | | |
| – | | |
| (3,265 | ) | |
| 114,830 | |
Reverse repos | |
| 35,298 | | |
| (2,219 | ) | |
| 33,079 | | |
| – | | |
| (33,079 | ) | |
| – | |
| |
| 153,393 | | |
| (2,219 | ) | |
| 151,174 | | |
| – | | |
| (36,344 | ) | |
| 114,830 | |
Derivative financial instruments | |
| 92,390 | | |
| (56,252 | ) | |
| 36,138 | | |
| (6,472 | ) | |
| (19,906 | ) | |
| 9,760 | |
Loans and advances to banks: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Excluding reverse repos | |
| 26,000 | | |
| – | | |
| 26,000 | | |
| (2,826 | ) | |
| – | | |
| 23,174 | |
Reverse repos | |
| 902 | | |
| – | | |
| 902 | | |
| – | | |
| (902 | ) | |
| – | |
| |
| 26,902 | | |
| – | | |
| 26,902 | | |
| (2,826 | ) | |
| (902 | ) | |
| 23,174 | |
Loans and advances to customers: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Excluding reverse repos | |
| 451,290 | | |
| (1,636 | ) | |
| 449,654 | | |
| (1,793 | ) | |
| (6,331 | ) | |
| 441,530 | |
Reverse repos | |
| 8,304 | | |
| – | | |
| 8,304 | | |
| – | | |
| (8,304 | ) | |
| – | |
| |
| 459,594 | | |
| (1,636 | ) | |
| 457,958 | | |
| (1,793 | ) | |
| (14,635 | ) | |
| 441,530 | |
Debt securities | |
| 3,397 | | |
| – | | |
| 3,397 | | |
| – | | |
| – | | |
| 3,397 | |
Available-for-sale financial assets | |
| 56,524 | | |
| – | | |
| 56,524 | | |
| – | | |
| (21,475 | ) | |
| 35,049 | |
Financial liabilities | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Deposits from banks: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Excluding repos | |
| 9,105 | | |
| – | | |
| 9,105 | | |
| (5,080 | ) | |
| (695 | ) | |
| 3,330 | |
Repos | |
| 7,279 | | |
| – | | |
| 7,279 | | |
| – | | |
| (7,279 | ) | |
| – | |
| |
| 16,384 | | |
| – | | |
| 16,384 | | |
| (5,080 | ) | |
| (7,974 | ) | |
| 3,330 | |
Customer deposits: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Excluding repos | |
| 415,153 | | |
| (2,155 | ) | |
| 412,998 | | |
| (1,391 | ) | |
| (6,331 | ) | |
| 405,276 | |
Repos | |
| 2,462 | | |
| – | | |
| 2,462 | | |
| – | | |
| (2,462 | ) | |
| – | |
| |
| 417,615 | | |
| (2,155 | ) | |
| 415,460 | | |
| (1,391 | ) | |
| (8,793 | ) | |
| 405,276 | |
Trading and other financial liabilities at fair value through profit or loss: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Excluding repos | |
| 12,437 | | |
| – | | |
| 12,437 | | |
| – | | |
| – | | |
| 12,437 | |
Repos | |
| 44,286 | | |
| (2,219 | ) | |
| 42,067 | | |
| – | | |
| (42,067 | ) | |
| – | |
| |
| 56,723 | | |
| (2,219 | ) | |
| 54,504 | | |
| – | | |
| (42,067 | ) | |
| 12,437 | |
Derivative financial instruments | |
| 90,657 | | |
| (55,733 | ) | |
| 34,924 | | |
| (4,620 | ) | |
| (24,820 | ) | |
| 5,484 | |
|
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1 |
After impairment allowance. |
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|
2 |
The amounts set off in the balance sheet as shown above represent derivatives and repurchase agreements with central clearing
houses which meet the criteria for offsetting under IAS 32. |
|
|
3 |
The Group enters into derivatives and repurchase and reverse repurchase agreements with various counterparties which are
governed by industry standard master netting agreements. The Group holds and provides cash and securities collateral in respective
of derivative transactions covered by these agreements. The right to set off balances under these master netting agreements
or to set off cash and securities collateral only arises in the event of non-payment or default and, as a result, these arrangements
do not qualify for offsetting under IAS 32. |
The effects of over collateralisation have not been taken into
account in the above table.
|