EX-99.1 2 q121ex991.htm EX-99.1 q121ex991
 
q121ex991p1i0.jpg
 
Barclays
 
PLC
1
Exhibit
 
99.1
Barclays
 
PLC
This
 
exhibit
 
includes
 
portions
 
from
 
the
 
previously
 
published
 
Results
 
Announcement
 
of
 
Barclays
 
PLC
 
relating
 
to
 
the
 
three
 
months
ended
 
31
 
March
 
2021,
 
as
 
amended
 
in
 
part
 
to
 
comply
 
with
 
the
 
requirements
 
of
 
Regulation
 
G
 
and
 
Item
 
10(e)
 
of
 
Regulation
 
S-K
promulgated
 
by
 
the
 
US
 
Securities
 
and
 
Exchange
 
Commission
 
(SEC),
 
including
 
the
 
reconciliation
 
of
 
certain
 
financial
 
information
 
to
comparable
 
measures
 
prepared
 
in
 
accordance
 
with
 
International
 
Financial
 
Reporting
 
Standards
 
(IFRS).
 
The
 
purpose
 
of
 
this
document
 
is
 
to
 
provide
 
such
 
additional
 
disclosure
 
as
 
required
 
by
 
Regulation
 
G
 
and
 
Regulation
 
S-K
 
item
 
10(e),
 
to
 
delete
 
certain
information
 
not
 
in
 
compliance
 
with
 
SEC
 
regulations
 
and
 
to
 
include
 
reconciliations
 
of
 
certain
 
non-IFRS
 
figures
 
to
 
the
 
most
 
directly
equivalent
 
IFRS
 
figures
 
for
 
the
 
periods
 
presented.
 
This
 
document
 
does
 
not
 
update
 
or
 
otherwise
 
supplement
 
the
 
information
contained
 
in
 
the
 
previously
 
published
 
Results
 
Announcement.
 
Any
 
reference
 
to
 
a
 
website
 
in
 
this
 
document
 
is
 
made
 
for
informational
 
purposes
 
only,
 
and
 
information
 
found
 
at
 
such
 
websites
 
is
 
not
 
incorporated
 
by
 
reference
 
into
 
this
 
document.
An
 
audit
 
opinion
 
has
 
not
 
been
 
rendered
 
in
 
respect
 
of
 
this
 
document.
 
 
q121ex991p1i0.jpg
Notes
Barclays
 
PLC
2
The
 
terms
 
Barclays
 
or
 
Group
 
refer
 
to
 
Barclays
 
PLC
 
together
 
with
 
its
 
subsidiaries.
 
Unless
 
otherwise
 
stated,
 
the
 
income
 
stat
 
ement
 
analysis
 
compares
 
the
 
three
months
 
ended
 
31
 
March
 
2021
 
to
 
the
 
corresponding
 
three
 
months
 
of
 
2020
 
and
 
balance
 
sheet
 
analysis
 
as
 
at
 
31
 
March
 
2021
 
with
 
comparatives
 
relating
 
to
 
31
December
 
2020
 
and
 
31
 
March
 
2020.
 
The
 
abbreviations
 
‘£m’
 
and
 
‘£bn’
 
represent
 
millions
 
and
 
thousands
 
of
 
millions
 
of
 
Pounds
 
Sterling
 
respectively;
 
the
abbreviations
 
‘$m’,
 
‘$bn’
 
and
 
‘$trn’
 
represent
 
millions,
 
thousands
 
of
 
millions
 
and
 
thousands
 
of
 
billions
 
of
 
US
 
Dollars
 
respectively;
 
and
 
the
 
abbreviations
 
‘€m’
and
 
‘€bn’
 
represent
 
millions
 
and
 
thousands
 
of
 
millions
 
of
 
Euros
 
respectively.
There
 
are
 
a
 
number
 
of
 
key
 
judgement
 
areas,
 
for
 
example
 
impairment
 
calculations,
 
which
 
are
 
based
 
on
 
models
 
and
 
which
 
are
 
subject
 
to
 
ongoing
 
adjustment
and
 
modifications.
 
Reported
 
numbers
 
reflect
 
best
 
estimates
 
and
 
judgements
 
at
 
the
 
given
 
point
 
in
 
time.
Relevant
 
terms
 
that
 
are
 
used
 
in
 
this
 
document
 
but
 
are
 
not
 
defined
 
under
 
applicable
 
regulatory
 
guidance
 
or
 
International
 
Financial
 
Reporting
 
Standards
 
(IFRS)
are
 
explained
 
in
 
the
 
results
 
glossary
 
attached
 
hitherto.
 
The
 
information
 
in
 
this
 
announcement,
 
which
 
was
 
approved
 
by
 
the
 
Board
 
of
 
Directors
 
on
 
29
 
April
 
2021,
 
does
 
not
 
comprise
 
statutory
 
accounts
 
within
 
the
meaning
 
of
 
Section
 
434
 
of
 
the
 
Companies
 
Act
 
2006.
 
Statutory
 
accounts
 
for
 
the
 
year
 
ended
 
31
 
December
 
2020,
 
which
 
contain
 
an
 
unmodified
 
audit
 
report
under
 
Section
 
495
 
of
 
the
 
Companies
 
Act
 
2006
 
(which
 
did
 
not
 
make
 
any
 
statements
 
under
 
Section
 
498
 
of
 
the
 
Companies
 
Act
 
2006)
 
will
 
be
 
delivered
 
to
 
the
Registrar
 
of
 
Companies
 
in
 
accordance
 
with
 
Section
 
441
 
of
 
the
 
Companies
 
Act
 
2006.
Barclays
 
is
 
a
 
frequent
 
issuer
 
in
 
the
 
debt
 
capital
 
markets
 
and
 
regularly
 
meets
 
with
 
investors
 
via
 
formal
 
road-shows
 
and
 
other
 
ad
 
hoc
 
meetings.
 
Consistent
 
with
its
 
usual
 
practice,
 
Barclays
 
expects
 
that
 
from
 
time
 
to
 
time
 
over
 
the
 
coming
 
quarter
 
it
 
will
 
meet
 
with
 
investors
 
globally
 
to
 
discuss
 
these
 
results
 
and
 
other
matters
 
relating
 
to
 
the
 
Group.
Non-IFRS
 
performance
 
measures
Barclays
 
management
 
believes
 
that
 
the
 
non-IFRS
 
performance
 
measures
 
included
 
in
 
this
 
document
 
provide
 
valuable
 
information
 
to
 
the
 
readers
 
of
 
the
financial
 
statements
 
as
 
they
 
enable
 
the
 
reader
 
to
 
identify
 
a
 
more
 
consistent
 
basis
 
for
 
comparing
 
the
 
businesses’
 
performance
 
between
 
financial
 
periods
 
and
provide
 
more
 
detail
 
concerning
 
the
 
elements
 
of
 
performance
 
which
 
the
 
managers
 
of
 
these
 
businesses
 
are
 
most
 
directly
 
able
 
to
 
influence
 
or
 
are
 
relevant
 
for
an
 
assessment
 
of
 
the
 
Group.
 
They
 
also
 
reflect
 
an
 
important
 
aspect
 
of
 
the
 
way
 
in
 
which
 
operating
 
targets
 
are
 
defined
 
and
 
performance
 
is
 
monitored
 
by
Barclays
 
management.
 
However,
 
any
 
non-IFRS
 
performance
 
measures
 
in
 
this
 
document
 
are
 
not
 
a
 
substitute
 
for
 
IFRS
 
measures
 
and
 
readers
 
should
 
consider
the
 
IFRS
 
measures
 
as
 
well.
 
Refer
 
to
 
the
 
appendix
 
on
 
pages
 
33
 
to
 
37
 
for
 
further
 
information
 
and
 
calculations
 
of
 
non-IFRS
 
performance
 
measures
 
included
throughout
 
this
 
document,
 
and
 
the
 
most
 
directly
 
comparable
 
IFRS
 
measures.
Key
 
non-IFRS
 
measures
 
included
 
in
 
this
 
document,
 
and
 
the
 
most
 
directly
 
comparable
 
IFRS
 
measures,
 
are:
–
 
Average
 
allocated
 
equity
 
represents
 
the
 
average
 
shareholders’
 
equity
 
that
 
is
 
allocated
 
to
 
the
 
businesses.
 
The
 
comparable
 
IFRS
 
measure
 
is
 
average
 
equity.
 
A
reconciliation
 
is
 
provided
 
on
 
pages
 
35
 
to
 
36;
–
 
Average
 
allocated
 
tangible
 
equity
 
is
 
calculated
 
as
 
the
 
average
 
of
 
the
 
previous
 
month’s
 
period
 
end
 
allocated
 
tangible
 
equity
 
and
 
the
 
current
 
month’s
 
period
end
 
allocated
 
tangible
 
equity.
 
The
 
average
 
allocated
 
tangible
 
equity
 
for
 
the
 
period
 
is
 
the
 
average
 
of
 
the
 
monthly
 
averages
 
within
 
that
 
period.
 
Period
 
end
allocated
 
tangible
 
equity
 
is
 
calculated
 
as
 
13.5%
 
(2020:
 
13.0%)
 
of
 
RWAs
 
for
 
each
 
business,
 
adjusted
 
for
 
capital
 
deductions,
 
excluding
 
goodwill
 
and
 
intangible
assets,
 
reflecting
 
the
 
assumptions
 
the
 
Group
 
uses
 
for
 
capital
 
planning
 
purposes.
 
Head
 
Office
 
allocated
 
tangible
 
equity
 
represents
 
the
 
difference
 
between
 
the
Group’s
 
tangible
 
shareholders’
 
equity
 
and
 
the
 
amounts
 
allocated
 
to
 
businesses.
 
The
 
comparable
 
IFRS
 
measure
 
is
 
average
 
equity.
 
A
 
reconciliation
 
is
 
provided
on
 
pages
 
35
 
to
 
36;
–
 
Average
 
tangible
 
shareholders’
 
equity
 
is
 
calculated
 
as
 
the
 
average
 
of
 
the
 
previous
 
month’s
 
period
 
end
 
tangible
 
equity
 
and
 
the
 
current
 
month’s
 
period
 
end
tangible
 
equity.
 
The
 
average
 
tangible
 
shareholders’
 
equity
 
for
 
the
 
period
 
is
 
the
 
average
 
of
 
the
 
monthly
 
averages
 
within
 
that
 
period.
 
The
 
comparable
 
IFRS
measure
 
is
 
average
 
equity.
 
A
 
reconciliation
 
is
 
provided
 
on
 
pages
 
35
 
to
 
36;
–
 
Pre
 
-provision
 
profits
 
is
 
calculated
 
by
 
excluding
 
credit
 
impairment
 
charges
 
from
 
profit
 
before
 
tax.
 
The
 
comparable
 
IFRS
 
measure
 
is
 
profit
 
before
 
tax.
 
A
reconciliation
 
is
 
provided
 
on
 
page
 
35;
–
 
Return
 
on
 
average
 
allocated
 
equity
 
represents
 
the
 
return
 
on
 
shareholders’
 
equity
 
that
 
is
 
allocated
 
to
 
the
 
businesses.
 
The
 
comparable
 
IFRS
 
measure
 
is
 
return
on
 
equity.
 
A
 
reconciliation
 
is
 
provided
 
on
 
page
 
37;
–
 
Return
 
on
 
average
 
allocated
 
tangible
 
equity
 
is
 
calculated
 
as
 
the
 
annualised
 
profit
 
after
 
tax
 
attributable
 
to
 
ordinary
 
equity
 
holders
 
of
 
the
 
parent,
 
as
 
a
proportion
 
of
 
average
 
allocated
 
tangible
 
equity.
 
The
 
comparable
 
IFRS
 
measure
 
is
 
return
 
on
 
equity.
 
A
 
reconciliation
 
is
 
provided
 
on
 
page
 
37;
–
 
Return
 
on
 
average
 
tangible
 
shareholders’
 
equity
 
is
 
calculated
 
as
 
the
 
annualised
 
profit
 
after
 
tax
 
attributable
 
to
 
ordinary
 
equity
 
holders
 
of
 
the
 
parent,
 
as
 
a
proportion
 
of
 
average
 
shareholders’
 
equity
 
excluding
 
non-controlling
 
interests
 
and
 
other
 
equity
 
instruments
 
adjusted
 
for
 
the
 
deduction
 
of
 
intangible
 
assets
and
 
goodwill.
 
The
 
comparable
 
IFRS
 
measure
 
is
 
return
 
on
 
equity.
 
A
 
reconciliation
 
is
 
provided
 
on
 
page
 
37;
 
and
–
 
Tangible
 
net
 
asset
 
value
 
per
 
share
 
is
 
calculated
 
by
 
dividing
 
shareholders’
 
equity,
 
exc
 
luding
 
non-controlling
 
interests
 
and
 
other
 
equity
 
instruments,
 
less
goodwill
 
and
 
intangible
 
assets,
 
by
 
the
 
number
 
of
 
issued
 
ordinary
 
shares.
 
The
 
comparable
 
IFRS
 
measure
 
is
 
net
 
asset
 
value
 
per
 
share.
 
A
 
rec
 
onciliation
 
is
provided
 
on
 
page
 
36.
Forward
 
-looking
 
statements
This
 
document
 
contains
 
certain
 
forward-looking
 
statements
 
within
 
the
 
meaning
 
of
 
Section
 
21E
 
of
 
the
 
US
 
Securities
 
Exchange
 
Act
 
of
 
1934,
 
as
 
amended,
 
and
Section
 
27A
 
of
 
the
 
US
 
Securities
 
Act
 
of
 
1933,
 
as
 
amended,
 
with
 
respect
 
to
 
the
 
Group.
 
Barclays
 
cautions
 
readers
 
that
 
no
 
forward
 
-looking
 
statement
 
is
 
a
guarantee
 
of
 
future
 
performance
 
and
 
that
 
actual
 
results
 
or
 
other
 
financial
 
condition
 
or
 
performance
 
measures
 
could
 
differ
 
materially
 
from
 
those
 
contained
 
in
the
 
forward
 
-looking
 
statements.
 
These
 
forward
 
-looking
 
statements
 
can
 
be
 
identified
 
by
 
the
 
fact
 
that
 
they
 
do
 
not
 
relate
 
only
 
to
 
historical
 
or
 
current
 
facts.
Forward
 
-looking
 
statements
 
sometimes
 
use
 
words
 
such
 
as
 
‘may’,
 
‘will’,
 
‘seek’,
 
‘continue’,
 
‘aim’,
 
‘anticipate’,
 
‘target’,
 
‘projected’,
 
‘expect’,
 
‘estimate’
 
,
 
‘intend’,
‘plan’,
 
‘goal’,
 
‘believe’,
 
‘achieve’
 
or
 
other
 
words
 
of
 
similar
 
meaning.
 
Forward
 
-looking
 
statements
 
can
 
be
 
made
 
in
 
writing
 
but
 
also
 
may
 
be
 
made
 
verbally
 
by
members
 
of
 
the
 
management
 
of
 
the
 
Group
 
(including,
 
without
 
limitation,
 
during
 
management
 
presentations
 
to
 
financial
 
analysts)
 
in
 
connection
 
with
 
this
document.
 
Examples
 
of
 
forward
 
-looking
 
statements
 
include,
 
among
 
others,
 
statements
 
or
 
guidance
 
regarding
 
or
 
relating
 
to
 
the
 
Group’s
 
future
 
financial
position,
 
income
 
growth,
 
assets,
 
impairment
 
charges,
 
provisions,
 
business
 
strategy,
 
capital,
 
leverage
 
and
 
other
 
regulatory
 
ratios,
 
capital
 
distributions
(including
 
dividend
 
pay
 
-out
 
ratios
 
and
 
expected
 
payment
 
strategies),
 
projected
 
levels
 
of
 
growth
 
in
 
the
 
banking
 
and
 
financial
 
markets,
 
projected
 
costs
 
or
savings,
 
any
 
commitments
 
and
 
targets,
 
estimates
 
of
 
capital
 
expenditures,
 
plans
 
and
 
objectives
 
for
 
future
 
operations,
 
projected
 
employee
 
numbers,
 
IFRS
impacts
 
and
 
other
 
statements
 
that
 
are
 
not
 
historical
 
fact.
 
By
 
their
 
nature,
 
forward
 
-looking
 
statements
 
involve
 
risk
 
and
 
uncertainty
 
because
 
they
 
relate
 
to
future
 
events
 
and
 
circumstances.
 
The
 
forward
 
-looking
 
statements
 
speak
 
only
 
as
 
at
 
the
 
date
 
on
 
which
 
they
 
are
 
made.
 
Forward
 
-looking
 
statements
 
may
 
be
affected
 
by:
 
changes
 
in
 
legislation;
 
the
 
development
 
of
 
standards
 
and
 
interpretations
 
under
 
IFRS,
 
including
 
evolving
 
practices
 
with
 
regard
 
to
 
the
 
 
q121ex991p1i0.jpg
Notes
Barclays
 
PLC
3
interpretation
 
and
 
application
 
of
 
accounting
 
and
 
regulatory
 
standards;
 
the
 
outcome
 
of
 
current
 
and
 
future
 
legal
 
proceedings
 
and
 
regulatory
 
investigations;
future
 
levels
 
of
 
conduct
 
provisions;
 
the
 
policies
 
and
 
actions
 
of
 
governmental
 
and
 
regulatory
 
authorities;
 
the
 
Group’s
 
ability
 
along
 
with
 
government
 
and
 
other
stakeholders
 
to
 
manage
 
and
 
mitigate
 
the
 
impacts
 
of
 
climate
 
change
 
effectively;
 
geopolitical
 
risks;
 
and
 
the
 
impact
 
of
 
competition.
 
In
 
addition,
 
factors
 
including
(but
 
not
 
limited
 
to)
 
the
 
following
 
may
 
have
 
an
 
effect:
 
capital,
 
leverage
 
and
 
other
 
regulatory
 
rules
 
applicable
 
to
 
past,
 
current
 
and
 
future
 
periods;
 
UK,
 
US,
Eurozone
 
and
 
global
 
macroeconomic
 
and
 
business
 
conditions;
 
the
 
effects
 
of
 
any
 
volatility
 
in
 
credit
 
markets;
 
market
 
related
 
risks
 
such
 
as
 
changes
 
in
 
interest
rates
 
and
 
foreign
 
exchange
 
rates;
 
effects
 
of
 
changes
 
in
 
valuation
 
of
 
credit
 
market
 
exposures;
 
changes
 
in
 
valuation
 
of
 
issued
 
securities;
 
volatility
 
in
 
capital
markets;
 
changes
 
in
 
credit
 
ratings
 
of
 
any
 
entity
 
within
 
the
 
Group
 
or
 
any
 
securities
 
issued
 
by
 
such
 
entities;
 
direct
 
and
 
indirect
 
impacts
 
of
 
the
 
coronavirus
(COVID-19)
 
pandemic;
 
instability
 
as
 
a
 
result
 
of
 
the
 
UK’s
 
exit
 
from
 
the
 
European
 
Union
 
(EU),
 
the
 
effects
 
of
 
the
 
EU-UK
 
Trade
 
and
 
Cooperation
 
Agreement
 
and
the
 
disruption
 
that
 
may
 
subsequently
 
result
 
in
 
the
 
UK
 
and
 
globally;
 
the
 
risk
 
of
 
cyber-attacks,
 
information
 
or
 
security
 
breaches
 
or
 
technology
 
failures
 
on
 
the
Group’s
 
business
 
or
 
operations;
 
and
 
the
 
success
 
of
 
future
 
acquisitions,
 
disposals
 
and
 
other
 
strategic
 
transactions.
 
A
 
number
 
of
 
these
 
influences
 
and
 
factors
are
 
beyond
 
the
 
Group’s
 
control.
 
As
 
a
 
result,
 
the
 
Group’s
 
actual
 
financial
 
position,
 
future
 
results,
 
capital
 
distributions,
 
capital,
 
leverage
 
or
 
other
 
regulatory
ratios
 
or
 
other
 
financial
 
and
 
non-financial
 
metrics
 
or
 
performance
 
measures
 
may
 
differ
 
materially
 
from
 
the
 
statements
 
or
 
guidance
 
set
 
forth
 
in
 
the
 
Group’s
forward
 
-looking
 
statements.
 
Additional
 
risks
 
and
 
factors
 
which
 
may
 
impact
 
the
 
Group’s
 
future
 
financial
 
condition
 
and
 
performance
 
are
 
identified
 
in
 
our
 
filings
with
 
the
 
SEC
 
(including,
 
without
 
limitation,
 
our
 
Annual
 
Report
 
on
 
Form
 
20-F
 
for
 
the
 
fiscal
 
year
 
ended
 
31
 
December
 
2020),
 
which
 
are
 
available
 
on
 
the
 
SEC’s
website
 
at
 
www.
 
sec.gov.
Subject
 
to
 
our
 
obligations
 
under
 
the
 
applicable
 
laws
 
and
 
regulations
 
of
 
any
 
relevant
 
jurisdiction,
 
(including,
 
without
 
limitation,
 
the
 
UK
 
and
 
the
 
US),
 
in
 
relation
to
 
disclosure
 
and
 
ongoing
 
information,
 
we
 
undertake
 
no
 
obligation
 
to
 
update
 
publicly
 
or
 
revise
 
any
 
forward
 
-looking
 
statements,
 
whether
 
as
 
a
 
result
 
of
 
new
information,
 
future
 
events
 
or
 
otherwise.
 
 
 
q121ex991p1i0.jpg
 
 
 
 
 
 
 
 
Performance
 
Highlights
Barclays
 
PLC
4
Barclays
 
continues
 
to
 
benefit
 
from
 
its
 
diversified
 
business
 
model,
 
whilst
 
supporting
 
the
 
economy
through
 
the
 
COVID
 
-19
 
pandemic
Barclays
 
delivered
 
a
 
record
 
quarterly
 
Group
 
profit
 
before
 
tax
 
in
 
Q121
 
of
 
£2.4bn
1
 
(Q120:
 
£0.9
 
bn),
 
attributable
 
profit
 
of
 
£1.7bn
(Q120:
 
£0.6bn),
 
a
 
return
 
on
 
equity
 
(RoE)
 
of
 
12.5%
 
(Q120:
 
4.4%),
 
a
 
return
 
on
 
tangible
 
equity
 
(RoTE)
 
of
 
14.7%
 
(Q120:
 
5.1%)
 
and
earnings
 
per
 
share
 
(EPS)
 
of
 
9.9p
 
(Q120:
 
3.5p)
Income
Diversified
 
income
 
streams
with
 
strong
 
CIB
 
income
partially
 
offsetting
 
challenges
in
 
Barclays
 
UK
 
and
 
CC&P
Group
 
income
 
of
 
£5.9bn
 
down
 
6
 
%
 
versus
 
prior
 
year
—
Barclays
 
Intern
 
ational
 
income
 
of
 
£4.4bn,
 
down
 
5%
 
versus
 
prior
 
year
-
Corporate
 
and
 
Investment
 
Bank
 
(CIB)
 
income
 
of
 
£3.6bn,
 
down
 
1%
 
with
 
Equities
 
and
Banking
 
up
 
65%
 
and
 
35%
 
respectively
 
,
 
whilst
 
FICC
 
was
 
down
 
35%
 
versus
 
a
 
very
 
strong
Q120
 
comparative
-
Consumer,
 
Cards
 
and
 
Payments
 
(CC&P)
 
income
 
of
 
£0.8bn,
 
down
 
22%
 
due
 
to
 
lower
card
 
s
 
balances
 
and
 
reduced
 
payments
 
activity
—
Barclays
 
UK
 
income
 
of
 
£1.6bn,
 
down
 
8%
 
versus
 
prior
 
year
 
reflecting
 
deposit
 
margin
compression
 
fro
 
m
 
lower
 
interest
 
rates
 
and
 
lower
 
interest
 
earning
 
lending
 
(IEL)
 
balances,
partially
 
offset
 
by
 
strong
 
mortgages
 
performance
 
with
 
record
 
quarterly
 
organic
 
net
 
asset
growth
 
of
 
£3.6bn
 
to
 
£151.9bn
Credit
 
impairment
 
charges
Reduced
 
impairment
 
as
underlying
 
asset
 
quality
metrics
 
remained
 
benign
Group
 
credit
 
impairment
 
charges
 
decreas
 
ed
 
significantly
 
to
 
£0.1bn
 
(Q120:
 
£2.1bn)
—
The
 
low
 
credit
 
impairment
 
charge
 
was
 
driven
 
by
 
red
 
uced
 
unsecured
 
lending
 
balances,
 
no
material
 
single
 
name
 
wholesale
 
loan
 
charges
 
and
 
limited
 
portfolio
 
deterioration
—
Total
 
balance
 
sheet
 
impairment
 
allowance
 
of
 
£8.8bn
 
(FY20:
 
£9.4bn),
 
resulting
 
in
 
broadly
stable
 
coverage
 
ratios
 
for
 
unsecured
 
consumer
 
lending
 
and
 
whole
 
sale
 
portfol
 
ios
 
of
 
12.2%
(FY20:
 
12.3%)
 
and
 
1.4%
 
(FY20:
 
1.5%)
 
respectively
Costs
Cost:
 
income
 
ratio
 
of
 
61%
Group
 
total
 
operating
 
expenses
 
of
 
£3.6bn
 
up
 
10%
 
versus
 
prior
 
year
—
Total
 
operating
 
expenses
 
include
 
higher
 
variable
 
compensation
 
accruals
 
reflective
 
of
improved
 
returns
 
and
 
continued
 
investment
 
in
 
businesses,
 
partially
 
offset
 
by
 
foreign
 
exchange
movements
 
and
 
efficiency
 
savings,
 
resulting
 
in
 
a
 
cost:
 
income
 
ratio
 
of
 
61%
 
(Q120:
 
52%).
COVID
 
-19
 
related
 
expenses
 
continued
 
in
 
Q121
Capital
 
/
 
capital
 
distributions
Strong
 
capital
 
position
 
and
completed
 
share
 
buyback
Common
 
equity
 
tier
 
1
 
(CET1)
 
ratio
 
of
 
14.6%
 
down
 
50bps
 
versus
 
FY20
—
The
 
decrease
 
reflects
 
profit
 
before
 
tax
 
more
 
than
 
offset
 
by
 
reversal
 
of
 
certain
 
regulatory
forbearance
 
measures
 
applied
 
through
 
2020,
 
the
 
impact
 
of
 
the
 
share
 
buyback
 
announced
with
 
FY20
 
results,
 
a
 
dividend
 
accrual,
 
and
 
an
 
increase
 
in
 
Risk
 
Weighted
 
Assets
 
(RWAs),
principally
 
in
 
the
 
CIB
—
In
 
April,
 
completed
 
£0.7bn
 
share
 
buyback
 
announced
 
with
 
FY20
 
results
1
Since
 
Q308
 
which
 
included
 
material
 
adjusting
 
items.
 
 
q121ex991p1i0.jpg
 
 
 
 
 
 
Performance
 
Highlights
Barclays
 
PLC
5
Group
 
outlook
 
and
 
targets
Outlook
Remains
 
uncertain
 
and
subject
 
to
 
change
depending
 
on
 
the
evolution
 
and
 
persistence
of
 
the
 
COVID
 
-19
pandemic
Returns
—
Barclays
 
expects
 
to
 
deliver
 
meaningful
 
year
 
-on-year
 
RoTE
 
improvement
 
in
 
2021
Income
—
Headwinds
 
to
 
income
 
in
 
Barclays
 
UK
 
are
 
expected
 
to
 
persist
 
in
 
2021,
 
driven
 
by
 
the
 
subdued
demand
 
for
 
unsecured
 
lending
 
and
 
the
 
low
 
interest
 
rate
 
environment,
 
partially
 
offset
 
by
 
the
recent
 
steepening
 
of
 
the
 
yield
 
curve
—
Within
 
Barclays
 
International,
 
the
 
CIB
 
franchise
 
remains
 
well
 
positioned
 
for
 
the
 
future;
 
CC&P
income
 
outlook
 
remains
 
uncertain,
 
despite
 
early
 
signs
 
of
 
an
 
anticipated
 
spending
 
recovery
 
in
 
the
US
 
and
 
UK,
 
with
 
US
 
cards
 
balances
 
expected
 
to
 
start
 
to
 
recover
 
later
 
in
 
the
 
year
Impairment
—
Barclays
 
expects
 
that
 
the
 
full
 
year
 
2021
 
impairment
 
charge
 
will
 
be
 
materially
 
below
 
that
 
of
 
2020
reflecting
 
delinquency
 
experience
 
and
 
an
 
improved
 
economic
 
outlook
 
during
 
the
 
latter
 
part
 
of
Q121.
 
If
 
these
 
conditions
 
persist,
 
Barclays
 
would
 
expect
 
to
 
reduce
 
the
 
impairment
 
provision
 
level
Costs
—
Barclays
 
expects
 
full
 
year
 
2021
 
costs
 
to
 
be
 
above
 
2020,
 
reflecting
 
investment
 
in
 
the
 
Group’s
franchises
 
for
 
future
 
returns
 
including
 
higher
 
variable
 
compensation
 
and
 
further
 
structural
 
cost
actions,
 
with
 
a
 
real
 
estate
 
review
 
expected
 
to
 
be
 
concluded
 
in
 
the
 
coming
 
months.
 
COVID
 
-19
related
 
expenses
 
are
 
also
 
expected
 
to
 
remain
 
in
 
2021
Capital
—
Barclays
 
remains
 
in
 
a
 
strong
 
capital
 
position,
 
although
 
certain
 
headwinds
 
are
 
likely
 
in
 
2021,
including
 
the
 
expected
 
reversal
 
of
 
software
 
amortisation
 
benefit
 
applied
 
in
 
2020
 
and
 
scheduled
pension
 
deficit
 
reduction
 
contributions
Targets
Barclays
 
continues
 
to
 
target
 
the
 
following
 
over
 
the
 
medium
 
term:
—
Returns:
 
RoTE
 
of
 
greater
 
than
 
10%
 
over
 
time
—
Cost
 
efficiency:
 
Cost:
 
income
 
ratio
 
below
 
60%
 
over
 
time
—
Capital
 
adequacy:
 
CET1
 
ratio
 
in
 
the
 
range
 
of
 
13-14%
 
 
q121ex991p1i0.jpg
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Performance
 
Highlights
Barclays
 
PLC
6
Barclays
 
Group
 
results
for
 
the
 
three
 
months
 
ended
31.03.21
31.03.20
£m
£m
%
 
Change
Net
 
interest
 
income
1,851
2,331
(21)
Net
 
fee,
 
commission
 
and
 
other
 
income
4,049
3,952
2
Total
 
income
5,900
6,283
(6)
Credit
 
impairment
 
charges
(55)
(2,115)
97
Net
 
operating
 
income
5,845
4,168
40
Operating
 
expenses
(3,545)
(3,253)
(9)
Litigation
 
and
 
conduct
(33)
(10)
 
Total
 
operating
 
expenses
(3,578)
(3,263)
(10)
Other
 
net
 
income
132
8
 
Profit
 
before
 
tax
 
2,399
913
 
Tax
 
charge
(496)
(71)
 
Profit
 
after
 
tax
 
1,903
842
 
Non-controlling
 
interests
(4)
(16)
75
Other
 
equity
 
instrument
 
holders
(195)
(221)
12
Attributable
 
profit
1,704
605
 
Performance
 
measures
Return
 
on
 
average
 
shareholders'
 
equity
12.5%
4.4%
Return
 
on
 
average
 
tangible
 
shareholders'
 
equity
14.7%
5.1%
Average
 
shareholders'
 
equity
 
(£bn)
 
54.4
 
55.2
Average
 
tangible
 
shareholders'
 
equity
 
(£bn)
 
46.5
 
47.0
Cost:
 
income
 
ratio
61%
52%
Loan
 
loss
 
rate
 
(bps)
6
223
Basic
 
earnings
 
per
 
share
9.9p
3.5p
As
 
at
 
31.03.21
As
 
at
 
31.12.20
As
 
at
 
31.03.20
Balance
 
sheet
 
and
 
capital
 
management
1
£bn
£bn
£bn
Loans
 
and
 
advances
 
at
 
amortised
 
cost
345.8
342.6
374.1
Loans
 
and
 
advances
 
at
 
amortised
 
cost
 
impairment
 
coverage
 
ratio
2.2%
2.4%
2.1%
Deposits
 
at
 
amortised
 
cost
498.8
481.0
470.7
Net
 
asset
 
value
 
per
 
share
312p
315p
332p
Tangible
 
net
 
asset
 
value
 
per
 
share
267p
269p
284p
Common
 
equity
 
tier
 
1
 
ratio
14.6%
15.1%
13.1%
Common
 
equity
 
tier
 
1
 
capital
45.9
46.3
42.5
Risk
 
weighted
 
assets
313.4
306.2
325.6
Average
 
UK
 
leverage
 
ratio
4.9%
5.0%
4.5%
UK
 
leverage
 
ratio
5.0%
5.3%
4.5%
Funding
 
and
 
liquidity
Group
 
liquidity
 
pool
 
(£bn)
290
266
237
Liquidity
 
coverage
 
ratio
161%
162%
155%
Loan:
 
deposit
 
ratio
69%
71%
79%
1
Refer
 
to
 
pages
 
23
 
to
 
28
 
for
 
further
 
information
 
on
 
how
 
capital,
 
RWAs
 
and
 
leverage
 
are
 
calculated.
 
 
q121ex991p1i0.jpg
Group
 
Performance
 
Review
Barclays
 
PLC
7
Q121
 
performance
 
continued
 
to
 
be
 
impacted
 
by
 
the
 
COVID
 
-19
 
pandemic.
 
For
 
comparability
 
purposes
 
below,
 
Q120
 
income
 
in
 
the
consumer
 
businesses
 
was
 
largely
 
unaffected
 
by
 
the
 
onset
 
of
 
the
 
pandemic,
 
while
 
our
 
Markets
 
business
 
in
 
the
 
CIB
 
benefitted
 
from
increased
 
client
 
activity
 
and
 
volatility
 
towards
 
the
 
end
 
of
 
Q120,
 
resulting
 
in
 
a
 
very
 
strong
 
comparative.
 
Impairment
 
charges
 
were
elevated
 
in
 
Q120,
 
reflecting
 
the
 
outlook
 
for
 
the
 
macroecon
 
omic
 
environment
 
at
 
the
 
time.
Group
 
performance
●
RoE
 
was
 
12.5%
 
(Q120:
 
4.4%),
 
RoTE
 
was
 
14.7%
 
(Q120:
 
5.1%)
 
and
 
EPS
 
was
 
9.9p
 
(Q120:
 
3.5p)
 
●
Profit
 
before
 
tax
 
was
 
£2,399m
 
(Q120:
 
£913m)
 
and
 
attributable
 
profit
 
was
 
£1,704m
 
(Q120:
 
£605m).
 
The
 
8%
 
depreciation
 
of
average
 
USD
 
against
 
GBP
 
adversely
 
impacted
 
income
 
and
 
profits
 
and
 
positively
 
impacted
 
credit
 
impairment
 
charges
 
and
 
total
operating
 
expenses
●
Pre-provision
 
profits
 
of
 
£2,454m
 
(Q120:
 
£3,028m)
 
was
 
driven
 
by
 
headwinds
 
in
 
Barclays
 
UK
 
and
 
CC&P,
 
but
 
the
 
Group
 
continues
to
 
benefit
 
from
 
its
 
diversified
 
business
 
model,
 
which
 
included
 
a
 
strong
 
performance
 
in
 
CIB
●
Total
 
income
 
decreased
 
to
 
£5,900m
 
(Q120:
 
£6,283m).
 
Barclays
 
UK
 
income
 
decreased
 
8%.
 
Barclays
 
International
 
income
decreased
 
5%,
 
with
 
CIB
 
income
 
down
 
1%
 
and
 
CC&P
 
income
 
down
 
22%
 
●
Credit
 
impairment
 
charges
 
were
 
£55m
 
(Q120:
 
£2,115m).
 
The
 
low
 
credit
 
impairment
 
charge
 
was
 
driven
 
by
 
reduced
 
unsecured
lending
 
balances,
 
no
 
material
 
single
 
name
 
wholesale
 
loan
 
charges
 
and
 
limited
 
portfolio
 
deterioration.
 
The
 
reduction
 
in
unsecured
 
lending
 
balances
 
and
 
growth
 
in
 
secured
 
balances
 
resulted
 
in
 
a
 
slight
 
decrease
 
in
 
the
 
Group’s
 
loans
 
and
 
advances
 
at
amortised
 
cost
 
impairment
 
coverage
 
ratio
 
to
 
2.2%
 
(December
 
2020:
 
2.4%)
 
with
 
underlying
 
portfolio
 
ratios
 
broadly
 
stable.
Management
 
adjustments
 
to
 
models
 
for
 
impairment
 
have
 
been
 
maintained
 
at
 
£1.2bn
 
(December
 
2020:
 
£1.4bn),
 
including
 
the
economic
 
uncertainty
 
provisions
 
relating
 
to
 
the
 
COVID
 
-19
 
pandemic
 
that
 
were
 
recognised
 
over
 
the
 
course
 
of
 
2020
●
Total
 
operating
 
expen
 
ses
 
increased
 
10%
 
to
 
£3,578m,
 
due
 
to
 
higher
 
variable
 
compensation
 
accruals
 
that
 
reflect
 
improvement
 
in
returns
 
and
 
continued
 
investment
 
in
 
businesses,
 
partially
 
offset
 
by
 
efficiency
 
savings,
 
resulting
 
in
 
a
 
cost:
 
income
 
ratio
 
of
 
61%
(Q120:
 
52%).
 
COVID
 
-19
 
related
 
expenses
 
continued
 
in
 
Q121
●
The
 
effective
 
tax
 
rate
 
was
 
20.7%
 
(Q120:
 
7.8%).
 
The
 
effective
 
tax
 
rate
 
for
 
Q121
 
was
 
higher
 
than
 
Q120
 
which
 
reflected
 
the
 
tax
benefit
 
recognised
 
for
 
the
 
re-
 
measurement
 
of
 
UK
 
deferred
 
tax
 
assets
 
as
 
a
 
result
 
of
 
the
 
UK
 
corporati
 
on
 
tax
 
rate
 
being
maintained
 
at
 
19%
●
Total
 
assets
 
increased
 
to
 
£1,380bn
 
(December
 
2020:
 
£1,350bn)
 
primarily
 
due
 
to
 
a
 
£26bn
 
increase
 
in
 
financial
 
assets
 
at
 
fair
 
value
due
 
to
 
an
 
increase
 
in
 
secured
 
lending,
 
a
 
£30bn
 
increase
 
in
 
cash
 
deposits
 
and
 
settlement
 
balances,
 
partially
 
offset
 
by
 
a
 
£32bn
decrease
 
in
 
derivative
 
assets
 
driven
 
by
 
an
 
increase
 
in
 
major
 
interest
 
rate
 
curves
●
Net
 
asset
 
value
 
(NAV)
 
per
 
share
 
was
 
312p
 
(December
 
2020:
 
315p).
 
Tangible
 
net
 
asset
 
value
 
(TNAV)
 
per
 
share
 
decreased
 
to
267p
 
(December
 
2020:
 
269p)
 
primarily
 
reflecting
 
negative
 
reserve
 
movements,
 
partially
 
offset
 
by
 
9.9p
 
of
 
EPS
Barclays
 
UK
●
Profit
 
before
 
tax
 
increased
 
136%
 
to
 
£460m.
 
RoE
 
was
 
8.9%
 
(Q120:
 
5.1%),
 
RoTE
 
was
 
12.0%
 
(Q120:
 
6.9%)
 
reflecting
 
materially
lower
 
credit
 
impairment
 
charges,
 
partially
 
offset
 
by
 
lower
 
income
 
●
Total
 
income
 
decreased
 
8%
 
to
 
£1,576m.
 
Net
 
interest
 
income
 
reduced
 
9%
 
to
 
£1,281m
 
with
 
a
 
net
 
interest
 
margin
 
(NIM)
 
of
 
2.54%
(Q120:
 
2.91%).
 
Net
 
fee,
 
commission
 
and
 
other
 
income
 
increased
 
1%
 
to
 
£295m
–
Personal
 
Banking
 
income
 
decreased
 
5%
 
to
 
£923m,
 
reflecting
 
deposit
 
margin
 
compression
 
from
 
lower
 
interest
 
rates
 
and
lower
 
unsecured
 
lending
 
balances,
 
partially
 
offset
 
by
 
balance
 
growth
 
in
 
deposits
 
and
 
mortgages
–
Barclaycard
 
Consumer
 
UK
 
income
 
decreased
 
28%
 
to
 
£315m
 
as
 
reduced
 
borrowing
 
and
 
spend
 
levels
 
by
 
customers
 
resulted
in
 
a
 
lower
 
level
 
of
 
IEL
 
balances
–
Business
 
Banking
 
income
 
increased
 
13%
 
to
 
£338m
 
due
 
to
 
lending
 
and
 
deposit
 
balance
 
growth
 
from
 
continued
 
support
 
for
small
 
and
 
medium-sized
 
enterprises
 
(SMEs)
 
through
 
£11.8bn
 
of
 
government
 
scheme
 
lending
 
to
 
date,
 
partially
 
offset
 
by
deposit
 
margin
 
compression
 
from
 
lower
 
intere
 
st
 
rates
 
and
 
lower
 
transactional
 
fee
 
volumes
●
Credit
 
impairment
 
charges
 
decreased
 
to
 
£77m
 
(Q120:
 
£481m)
 
from
 
reduced
 
unsecured
 
portfolio
 
exposures
 
in
 
part
 
driven
 
by
lockdown
 
measures.
 
As
 
at
 
31
 
March
 
2021,
 
30
 
and
 
90
 
day
 
arrears
 
rates
 
in
 
UK
 
cards
 
were
 
1.6%
 
(Q120:
 
1.8%)
 
and
 
0.8%
 
(Q120:
0.8%)
 
respectively
●
Total
 
operating
 
expenses
 
increased
 
1%
 
to
 
£1,039m
 
reflecting
 
higher
 
servicing
 
and
 
financial
 
assistance
 
costs,
 
offset
 
by
 
efficiency
savings
●
Loans
 
and
 
advances
 
to
 
customers
 
at
 
amortised
 
cost
 
remained
 
stable
 
at
 
£205.7bn
 
(December
 
2020:
 
£205.4bn)
 
predominantly
from
 
£3.6bn
 
of
 
mortgage
 
growth
 
following
 
continued
 
strong
 
demand,
 
offset
 
by
 
a
 
£2.1bn
 
decrease
 
in
 
the
 
Education,
 
Social
Housing
 
and
 
Local
 
Authority
 
(ESHLA)
 
portfolio
 
and
 
£1.6bn
 
lower
 
unsecured
 
lending
 
balances
●
Customer
 
deposits
 
at
 
amortised
 
cost
 
increased
 
3%
 
to
 
£247.5bn
 
reflecting
 
an
 
increase
 
of
 
£6.3bn
 
in
 
Personal
 
Banking,
 
further
strengthening
 
the
 
liquidity
 
position
 
and
 
contributing
 
to
 
a
 
loan:
 
deposit
 
ratio
 
of
 
88%
 
(December
 
2020:
 
89%)
 
 
q121ex991p1i0.jpg
Group
 
Performance
 
Review
Barclays
 
PLC
8
Barclays
 
UK
 
(continued)
●
RWAs
 
decreased
 
to
 
£72.7bn
 
(December
 
2020:
 
£73.7bn)
 
driven
 
by
 
a
 
reduction
 
in
 
unsecured
 
lending
 
and
 
ESHLA,
 
partially
 
offset
by
 
growth
 
in
 
mortgages
Barclays
 
International
●
Profit
 
before
 
tax
 
increased
 
140%
 
to
 
£1,971m,
 
with
 
a
 
RoE
 
of
 
17.4%
 
(Q120:
 
6.6%),
 
reflecting
 
a
 
RoE
 
of
 
17.9%
 
(Q120:
 
12.5%)
 
in
 
CIB
and
 
14.5%
 
(Q120:
 
(20.7)%)
 
in
 
CC&P
 
and
 
a
 
RoTE
 
of
 
17.7%
 
(Q120:
 
6.8%),
 
reflecting
 
a
 
RoTE
 
of
 
17.9%
 
(Q120:
 
12.5%)
 
in
 
CIB
 
and
16.5%
 
(Q120:
 
(23.5)%)
 
in
 
CC&P
●
The
 
8%
 
depreciation
 
of
 
average
 
USD
 
against
 
GBP
 
adversely
 
impacted
 
income
 
and
 
profits
 
and
 
positively
 
impacted
 
credit
impairment
 
charges
 
and
 
total
 
operating
 
expenses
●
Total
 
income
 
decreased
 
to
 
£4,399m
 
(Q120:
 
£4,644m)
–
CIB
 
income
 
decreased
 
1%
 
to
 
£3,594m
–
Markets
 
income
 
decreased
 
12%
 
to
 
£2,136m
 
as
 
Equities
 
reported
 
the
 
best
 
ever
 
quarter
 
on
 
a
 
comparable
 
basis
1
,
 
offset
 
by
FICC.
 
Equities
 
income
 
increased
 
65%
 
to
 
£932m
 
driven
 
by
 
derivatives,
 
reflecting
 
strong
 
client
 
activity,
 
and
 
financing
through
 
increased
 
client
 
balances.
 
Within
 
FICC,
 
income
 
decreased
 
35%
 
to
 
£1,204m
 
as
 
a
 
strong
 
performance
 
in
 
credit
was
 
more
 
than
 
offset
 
by
 
a
 
decline
 
in
 
macro
 
due
 
to
 
tighter
 
spreads
 
and
 
the
 
non-recurrence
 
of
 
Q120
 
client
 
activity
 
levels
–
Banking
 
had
 
the
 
best
 
ever
 
quarter
 
on
 
a
 
comparable
 
basis
1
,
 
with
 
income
 
up
 
35%
 
to
 
£859m
 
driven
 
by
 
a
 
strong
performance
 
in
 
equity
 
capital
 
markets
reflecting
 
an
 
increase
 
in
 
the
 
fee
 
pool
2
–
Within
 
Corporate,
 
Transaction
 
banking
 
income
 
decreased
 
12%
 
to
 
£393m
 
as
 
deposit
 
balance
 
growth
 
was
 
more
 
than
offset
 
by
 
margin
 
compression.
 
Corporate
 
lending
 
income
 
increased
 
by
 
86%
 
to
 
£206m
 
driven
 
by
 
the
 
non-
 
recurrence
 
of
losses
 
on
 
the
 
mark-to
 
-market
 
of
 
lending
 
and
 
related
 
hedge
 
positions
–
CC&P
 
income
 
decreased
 
22%
 
to
 
£805m
 
reflecting
 
lower
 
cards
 
balances
 
and
 
reduced
 
payments
 
activity
●
Credit
 
impairment
 
charges
 
decreased
 
to
 
a
 
£22m
 
release
 
(Q120:
 
£1,609m
 
charge)
–
CIB
 
credit
 
impairment
 
charge
 
was
 
a
 
£43m
 
release
 
(Q120:
 
£724m
 
charge)
 
due
 
to
 
no
 
material
 
single
 
name
 
wholesale
 
loan
charges
 
and
 
lower
 
exposures
 
–
CC&P
 
credit
 
impairment
 
charges
 
were
 
£21m
 
(Q120:
 
£885m)
 
reflecting
 
lower
 
unsecured
 
lending
 
balances,
 
particularly
 
in
 
US
cards.
 
As
 
at
 
31
 
March
 
2021,
 
30
 
and
 
90
 
day
 
arrears
 
in
 
US
 
cards
 
were
 
2.1%
 
(Q120:
 
2.7%)
 
and
 
1.2%
 
(Q120:
 
1.5%)
 
respectively
●
Total
 
operating
 
expenses
 
increased
 
11%
 
to
 
£2,459m
 
–
CIB
 
total
 
operating
 
expenses
 
increased
 
12%
 
to
 
£1,887m
 
due
 
to
 
higher
 
variable
 
compensation
 
accruals
 
that
 
reflect
improvement
 
in
 
returns,
 
partly
 
offset
 
by
 
cost
 
efficiencies
 
and
 
discipline
 
in
 
the
 
current
 
environment
–
CC&P
 
total
 
operating
 
expenses
 
increased
 
8%
 
to
 
£572m
 
driven
 
by
 
the
 
impact
 
of
 
higher
 
investment
 
spend
 
and
 
customer
remediation
 
costs
●
RWAs
 
increased
 
to
 
£230.0bn
 
(December
 
2020:
 
£222.3bn)
 
primarily
 
due
 
to
 
increased
 
client
 
and
 
trading
 
activity
 
within
 
CIB,
partially
 
offset
 
by
 
lower
 
CC&P
 
balances
Head
 
Office
●
Loss
 
before
 
tax
 
was
 
£32m
 
(Q120:
 
£104m)
●
Total
 
income
 
was
 
an
 
expense
 
of
 
£75m
 
(Q120:
 
£65m),
 
which
 
primarily
 
reflected
 
hedge
 
accounting,
 
treasury
 
items
 
and
 
funding
costs
 
on
 
legacy
 
capital
 
instruments
●
Total
 
operating
 
expenses
 
increased
 
to
 
£80m
 
(Q120:
 
£16m)
 
primarily
 
due
 
to
 
the
 
non-
 
recurrence
 
of
 
a
 
provision
 
release
 
in
 
Q120,
related
 
to
 
the
 
previous
 
sale
 
of
 
a
 
Non-Core
 
portfolio
●
Other
 
net
 
income
 
was
 
£123m
 
(Q120:
 
£2m)
 
driven
 
by
 
a
 
fair
 
value
 
gain
 
in
 
Barclays’
 
associate
 
investment
 
holding
 
in
 
the
 
Business
Growth
 
Fund
 
(BGF)
1
Period
 
covering
 
Q114
 
–
 
Q121.
 
Pre
 
2014
 
financials
 
were
 
not
 
restated
 
following
 
re-segmentation
 
in
 
Q116.
2
Data
 
source:
 
Dealogic
 
for
 
the
 
period
 
covering
 
1
 
January
 
to
 
31
 
March
 
2021.
 
 
q121ex991p1i0.jpg
Group
 
Performance
 
Review
Barclays
 
PLC
9
Group
 
capital
 
and
 
leverage
●
The
 
CET1
 
ratio
 
decreased
 
to
 
14.6%
 
(December
 
2020:
 
15.1%)
–
 
CET1
 
capital
 
decreased
 
by
 
£0.4bn
 
to
 
£45.9bn
 
as
 
profit
 
before
 
tax
 
of
 
£2.4bn
 
was
 
more
 
than
 
offset
 
by
 
the
 
removal
 
of
temporary
 
regulatory
 
supporting
 
measures
 
introduced
 
in
 
2020,
 
the
 
£0.7bn
 
share
 
buyback
 
announced
 
with
 
FY20
 
results
and
 
decreases
 
in
 
other
 
qualifying
 
reserves.
 
The
 
additional
 
value
 
adjustments
 
(PVA)
 
deduction
 
increased
 
by
 
£0.4bn
reflecting
 
the
 
removal
 
of
 
increased
 
diversification
 
factors
 
and
 
IFRS
 
9
 
transitional
 
relief
 
decreased
 
by
 
£0.3bn
 
primarily
 
due
to
 
the
 
relief
 
on
 
the
 
pre
 
-2020
 
impairment
 
charge
 
reducing
 
from
 
70%
 
to
 
50%
 
in
 
2021.
 
The
 
deduction
 
for
 
dividends
 
paid
 
and
foreseen
 
increased
 
by
 
£1.0bn
 
including
 
the
 
£0.7bn
 
share
 
buyback
 
and
 
a
 
£0.1bn
 
accrual
 
towards
 
FY21
 
dividends
 
–
 
RWAs
 
increased
 
by
 
£7.2bn
 
to
 
£313.4bn
 
primarily
 
due
 
to
 
increased
 
client
 
and
 
trading
 
activity
 
within
 
CIB,
 
partially
 
offset
 
by
lower
 
consumer
 
lending
●
The
 
average
 
UK
 
leverage
 
ratio
 
decreased
 
to
 
4.9%
 
(December
 
2020:
 
5.0%).
 
The
 
average
 
leverage
 
exposure
 
increased
 
by
 
£28bn
to
 
£1,175bn
 
(December
 
2020:
 
£1,147bn)
 
largely
 
driven
 
by
 
an
 
increase
 
in
 
securities
 
financing
 
transactions
 
(SFTs)
Group
 
funding
 
and
 
liquidity
●
The
 
liquidity
 
pool
 
was
 
£290bn
 
(December
 
2020:
 
£266bn)
 
and
 
the
 
liquidity
 
coverage
 
ratio
 
remained
 
significantly
 
above
 
the
 
100%
regulatory
 
requirement
 
at
 
161%
 
(December
 
2020:
 
162%),
 
equivalent
 
to
 
a
 
surplus
 
of
 
£107bn
 
(December
 
2020:
 
£99bn).
 
The
increase
 
in
 
the
 
pool
 
is
 
driven
 
by
 
continued
 
deposit
 
growth,
 
Term
 
Funding
 
Scheme
 
with
 
additional
 
incentives
 
for
 
SMEs
 
drawings
and
 
a
 
seasonal
 
increase
 
in
 
short-
 
term
 
wholesale
 
funding,
 
which
 
were
 
partly
 
offset
 
by
 
a
 
seasonal
 
increase
 
in
 
business
 
funding
consumption
●
Wholesale
 
funding
 
outstanding,
 
excluding
 
repurchase
 
agreements,
 
was
 
£157.8.bn
 
(December
 
2020:
 
£145.0bn).
 
The
 
Group
issued
 
£2.7bn
 
equivalent
 
of
 
minimum
 
requirement
 
for
 
own
 
funds
 
and
 
eligible
 
liabilities
 
(MREL)
 
instruments
 
from
 
Barclays
 
PLC
(the
 
Parent
 
company)
 
during
 
the
 
year.
 
The
 
Group
 
is
 
well
 
advanced
 
in
 
its
 
MREL
 
issuance
 
plans
 
relative
 
to
 
the
 
estimated
 
1
January
 
2022
 
requirement
Other
 
matters
●
In
 
its
 
Budget
 
held
 
in
 
March
 
2021,
 
the
 
UK
 
Government
 
announced
 
that
 
the
 
UK
 
rate
 
of
 
corporation
 
tax
 
will
 
increase
 
from
 
19%
 
to
25%
 
from
 
1
 
April
 
2023
 
and
 
that
 
it
 
will
 
undertake
 
a
 
review
 
of
 
the
 
additional
 
8%
 
banking
 
surcharge
 
during
 
2021.
 
The
 
Budget
Report
 
issued
 
on
 
3
 
March
 
2021
 
outlines
 
that
 
“the
 
government
 
will
 
set
 
out
 
how
 
it
 
intends
 
to
 
ensure
 
that
 
the
 
combined
 
rate
 
of
tax
 
on
 
banks’
 
profits
 
does
 
not
 
increase
 
substantially
 
from
 
its
 
current
 
level”.
 
The
 
Group’s
 
effect
 
ive
 
tax
 
rate
 
for
 
FY21
 
may
 
include
a
 
tax
 
benefit
 
for
 
the
 
re-measurement
 
of
 
UK
 
deferred
 
tax
 
assets
 
upon
 
substantive
 
enactment
 
of
 
the
 
increase
 
in
 
the
 
rate
 
of
 
UK
corporation
 
tax
 
which
 
is
 
expected
 
later
 
in
 
2021.
 
Any
 
subsequent
 
reduction
 
in
 
the
 
banking
 
surcharge
 
arising
 
from
 
the
Government’s
 
review
 
may
 
result
 
in
 
a
 
tax
 
charge
 
upon
 
enactment
 
as
 
UK
 
deferred
 
tax
 
assets
 
are
 
again
 
re-measured,
 
the
 
timing
 
of
which
 
is
 
uncertain
 
but
 
is
 
expected
 
to
 
occur
 
in
 
2022
Capital
 
distributions
●
Barclays
 
understands
 
the
 
importance
 
of
 
delivering
 
attractive
 
total
 
cash
 
returns
 
to
 
shareholders.
 
Barclays
 
is
 
therefore
committed
 
to
 
maintaining
 
an
 
appropriate
 
balance
 
between
 
total
 
cash
 
returns
 
to
 
shareholders,
 
investment
 
in
 
the
 
business
 
and
maintaining
 
a
 
strong
 
capital
 
position.
 
Going
 
forward,
 
Barclays
 
intends
 
to
 
pay
 
a
 
progressive
 
ordinary
 
dividend,
 
taking
 
into
account
 
these
 
objectives
 
and
 
the
 
earnings
 
outlook
 
of
 
the
 
Group.
 
It
 
is
 
also
 
the
 
Board’s
 
intention
 
to
 
continue
 
to
 
supplement
 
the
ordinary
 
dividends
 
with
 
additional
 
cash
 
retur
 
ns,
 
including
 
share
 
buybacks,
 
to
 
shareholders
 
as
 
and
 
when
 
appropriate
●
For
 
regulatory
 
capital
 
purposes,
 
Barclays
 
has
 
accrued
 
an
 
ordinary
 
dividend
 
in
 
Q121
 
of
 
0.75p
 
based
 
on
 
a
 
3p
 
dividend
 
for
 
the
 
full
year.
 
This
 
regulatory
 
accrual
 
should
 
not
 
be
 
used
 
as
 
a
 
fore
 
cast
 
of
 
future
 
capital
 
distributions.
 
The
 
Board
 
will
 
assess
 
the
appropriate
 
level
 
and
 
form
 
of
 
capital
 
distributions
 
as
 
the
 
year
 
progresses
Tushar
 
Morzaria,
 
Group
 
Finance
 
Director
 
 
q121ex991p1i0.jpg
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Quarterly
 
Results
 
Summary
Barclays
 
PLC
10
Barclays
 
Group
 
Q121
Q420
Q320
Q220
Q120
Q419
Q319
Q219
Income
 
statement
 
information
£m
£m
£m
£m
£m
£m
£m
£m
Net
 
interest
 
income
1,851
1,845
2,055
1,892
2,331
2,344
2,445
2,360
Net
 
fee,
 
commission
 
and
 
other
 
income
4,049
3,096
3,149
3,446
3,952
2,957
3,096
3,178
Total
 
income
 
5,900
4,941
5,204
5,338
6,283
5,301
5,541
5,538
Credit
 
impairment
 
charges
(55)
(492)
(608)
(1,623)
(2,115)
(523)
(461)
(480)
Net
 
operating
 
income
5,845
4,449
4,596
3,715
4,168
4,778
5,080
5,058
Operating
 
costs
(3,545)
(3,480)
(3,391)
(3,310)
(3,253)
(3,308)
(3,293)
(3,501)
UK
 
bank
 
levy
-
(299)
-
-
-
(226)
-
-
Litigation
 
and
 
conduct
(33)
(47)
(76)
(20)
(10)
(167)
(1,568)
(53)
Total
 
operating
 
expenses
(3,578)
(3,826)
(3,467)
(3,330)
(3,263)
(3,701)
(4,861)
(3,554)
Other
 
net
 
income/(expenses)
132
23
18
(26)
8
20
27
27
Profit
 
before
 
tax
 
2,399
646
1,147
359
913
1,097
246
1,531
Tax
 
charge
(496)
(163)
(328)
(42)
(71)
(189)
(269)
(297)
Profit/(loss)
 
after
 
tax
 
1,903
483
819
317
842
908
(23)
1,234
Non-controlling
 
interests
(4)
(37)
(4)
(21)
(16)
(42)
(4)
(17)
Other
 
equity
 
instrument
 
holders
(195)
(226)
(204)
(206)
(221)
(185)
(265)
(183)
Attributable
 
profit/(loss)
1,704
220
611
90
605
681
(292)
1,034
Performance
 
measures
Return
 
on
 
average
 
shareholders'
 
equity
 
12.5%
1.6%
4.3%
0.6%
4.4%
5.0%
(2.1%)
7.6%
Return
 
on
 
average
 
tangible
 
shareholders'
 
equity
 
14.7%
1.8%
5.1%
0.7%
5.1%
5.9%
(2.4%)
9.0%
Average
 
shareholders'
 
equity
 
(£bn)
54.4
55.7
56.4
58.4
55.2
54.5
56.4
54.0
Average
 
tangible
 
shareholders'
 
equity
 
(£bn)
46.5
47.6
48.3
50.2
47.0
46.4
48.4
46.2
Cost:
 
income
 
ratio
61%
77%
67%
62%
52%
70%
88%
64%
Loan
 
loss
 
rate
 
(bps)
6
56
69
179
223
60
52
56
Basic
 
earnings/(loss)
 
per
 
share
 
9.9p
1.3p
3.5p
0.5p
3.5p
3.9p
(1.7p)
6.0p
Balance
 
sheet
 
and
 
capital
 
management
1
£bn
£bn
£bn
£bn
£bn
£bn
£bn
£bn
Loans
 
and
 
advances
 
at
 
amortised
 
cost
345.8
342.6
344.4
354.9
374.1
339.1
345.1
339.3
Loans
 
and
 
advances
 
at
 
amortised
 
cost
 
impairment
coverage
 
ratio
2.2%
2.4%
2.5%
2.5%
2.1%
1.8%
1.9%
1.9%
Total
 
assets
1,379.7
1,349.5
1,421.7
1,385.1
1,444.3
1,140.2
1,290.4
1,232.8
Deposits
 
at
 
amortised
 
cost
498.8
481.0
494.6
466.9
470.7
415.8
420.6
413.6
Net
 
asset
 
value
 
per
 
share
312p
315p
322p
331p
332p
309p
320p
322p
Tangible
 
net
 
asset
 
value
 
per
 
share
267p
269p
275p
284p
284p
262p
274p
275p
Common
 
equity
 
tier
 
1
 
ratio
14.6%
15.1%
14.6%
14.2%
13.1%
13.8%
13.4%
13.4%
Common
 
equity
 
tier
 
1
 
capital
45.9
46.3
45.5
45.4
42.5
40.8
41.9
42.9
Risk
 
weighted
 
assets
 
313.4
306.2
310.7
319.0
325.6
295.1
313.3
319.1
Average
 
UK
 
leverage
 
ratio
4.9%
5.0%
5.1%
4.7%
4.5%
4.5%
4.6%
4.7%
Average
 
UK
 
leverage
 
exposure
1,174.9
1,146.9
1,111.1
1,148.7
1,176.2
1,142.8
1,171.2
1,134.6
UK
 
leverage
 
ratio
5.0%
5.3%
5.2%
5.2%
4.5%
5.1%
4.8%
5.1%
UK
 
leverage
 
exposure
1,145.4
1,090.9
1,095.1
1,071.1
1,178.7
1,007.7
1,099.8
1,079.4
Funding
 
and
 
liquidity
Group
 
liquidity
 
pool
 
(£bn)
290
266
327
298
237
211
226
238
Liquidity
 
coverage
 
ratio
161%
162%
181%
186%
155%
160%
151%
156%
Loan:
 
deposit
 
ratio
69%
71%
70%
76%
79%
82%
82%
82%
1
Refer
 
to
 
pages
 
23
 
to
 
28
 
for
 
further
 
information
 
on
 
how
 
capital,
 
RWAs
 
and
 
leverage
 
are
 
calculated.
 
 
q121ex991p1i0.jpg
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Quarterly
 
Results
 
by
 
Business
Barclays
 
PLC
11
Barclays
 
UK
Q121
Q420
Q320
Q220
Q120
Q419
Q319
Q219
Income
 
statement
 
information
£m
£m
£m
£m
£m
£m
£m
£m
Net
 
interest
 
income
1,281
1,317
1,280
1,225
1,412
1,478
1,503
1,438
Net
 
fee,
 
commission
 
and
 
other
 
income
295
309
270
242
292
481
343
333
Total
 
income
1,576
1,626
1,550
1,467
1,704
1,959
1,846
1,771
Credit
 
impairment
 
charges
(77)
(170)
(233)
(583)
(481)
(190)
(101)
(230)
Net
 
operating
 
income
1,499
1,456
1,317
884
1,223
1,769
1,745
1,541
Operating
 
costs
(1,036)
(1,134)
(1,095)
(1,018)
(1,023)
(1,023)
(952)
(1,022)
UK
 
bank
 
levy
-
(50)
-
-
-
(41)
-
-
Litigation
 
and
 
conduct
(3)
4
(25)
(6)
(5)
(58)
(1,480)
(41)
Total
 
operating
 
expenses
(1,039)
(1,180)
(1,120)
(1,024)
(1,028)
(1,122)
(2,432)
(1,063)
Other
 
net
 
income/(expenses)
-
6
(1)
13
-
-
-
(1)
Profit/(loss)
 
before
 
tax
 
460
282
196
(127)
195
647
(687)
477
Attributable
 
profit/(loss)
298
160
113
(123)
175
438
(907)
328
Balance
 
sheet
 
information
£bn
£bn
£bn
£bn
£bn
£bn
£bn
£bn
Loans
 
and
 
advances
 
to
 
customers
 
at
 
amortised
 
cost
205.7
205.4
203.9
202.0
195.7
193.7
193.2
189.1
Total
 
assets
309.1
289.1
294.5
287.6
267.5
257.8
257.9
259.0
Customer
 
deposits
 
at
 
amortised
 
cost
247.5
240.5
232.0
225.7
207.5
205.5
203.3
200.9
Loan:
 
deposit
 
ratio
88%
89%
91%
92%
96%
96%
97%
97%
Risk
 
weighted
 
assets
72.7
73.7
76.2
77.9
77.7
74.9
76.8
76.2
Performance
 
measures
Return
 
on
 
average
 
allocated
 
equity
8.9%
4.8%
3.3%
(3.6%)
5.1%
12.7%
(26.1%)
9.5%
Return
 
on
 
average
 
allocated
 
tangible
 
equity
12.0%
6.5%
4.5%
(4.8%)
6.9%
17.0%
(34.9%)
12.7%
Average
 
allocated
 
equity
 
(£bn)
13.5
13.4
13.7
13.9
13.7
13.8
13.9
13.8
Average
 
allocated
 
tangible
 
equity
 
(£bn)
9.9
9.8
10.1
10.3
10.1
10.3
10.4
10.3
Cost:
 
income
 
ratio
66%
73%
72%
70%
60%
57%
132%
60%
Loan
 
loss
 
rate
 
(bps)
14
31
43
111
96
38
20
47
Net
 
interest
 
margin
2.54%
2.56%
2.51%
2.48%
2.91%
3.03%
3.10%
3.05%
 
 
q121ex991p1i0.jpg
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Quarterly
 
Results
 
by
 
Business
Barclays
 
PLC
12
Analysis
 
of
 
Barclays
 
UK
Q121
Q420
Q320
Q220
Q120
Q419
Q319
Q219
Analysis
 
of
 
total
 
income
£m
£m
£m
£m
£m
£m
£m
£m
Personal
 
Banking
923
895
833
826
968
1,064
1,035
946
Barclaycard
 
Consumer
 
UK
315
354
362
367
436
533
472
497
Business
 
Banking
338
377
355
274
300
362
339
328
Total
 
income
1,576
1,626
1,550
1,467
1,704
1,959
1,846
1,771
Analysis
 
of
 
credit
 
impairment
 
charges
Personal
 
Banking
(22)
(68)
(48)
(130)
(134)
(71)
(36)
(36)
Barclaycard
 
Consumer
 
UK
(36)
(78)
(106)
(396)
(301)
(108)
(49)
(175)
Business
 
Banking
(19)
(24)
(79)
(57)
(46)
(11)
(16)
(19)
Total
 
credit
 
impairment
 
charges
(77)
(170)
(233)
(583)
(481)
(190)
(101)
(230)
Analysis
 
of
 
loans
 
and
 
advances
 
to
 
customers
 
at
amortised
 
cost
£bn
£bn
£bn
£bn
£bn
£bn
£bn
£bn
Personal
 
Banking
160.4
157.3
155.7
154.9
153.4
151.9
150.1
147.3
Barclaycard
 
Consumer
 
UK
8.7
9.9
10.7
11.5
13.6
14.7
14.9
15.1
Business
 
Banking
36.6
38.2
37.5
35.6
28.7
27.1
28.2
26.7
Total
 
loans
 
and
 
advances
 
to
 
customers
 
at
amortised
 
cost
205.7
205.4
203.9
202.0
195.7
193.7
193.2
189.1
Analysis
 
of
 
customer
 
deposits
 
at
 
amortised
 
cost
Personal
 
Banking
186.0
179.7
173.2
169.6
161.4
159.2
157.9
156.3
Barclaycard
 
Consumer
 
UK
0.1
0.1
0.1
0.1
-
-
-
-
Business
 
Banking
61.4
60.7
58.7
56.0
46.1
46.3
45.4
44.6
Total
 
customer
 
deposits
 
at
 
amortised
 
cost
247.5
240.5
232.0
225.7
207.5
205.5
203.3
200.9
 
 
q121ex991p1i0.jpg
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Quarterly
 
Results
 
by
 
Business
Barclays
 
PLC
13
Barclays
 
International
Q121
Q420
Q320
Q220
Q120
Q419
Q319
Q219
Income
 
statement
 
information
£m
£m
£m
£m
£m
£m
£m
£m
Net
 
interest
 
income
748
614
823
847
998
965
1,059
1,017
Net
 
trading
 
income
1,934
1,372
1,528
1,660
2,360
929
1,110
1,016
Net
 
fee,
 
commission
 
and
 
other
 
income
1,717
1,500
1,430
1,503
1,286
1,558
1,581
1,870
Total
 
income
4,399
3,486
3,781
4,010
4,644
3,452
3,750
3,903
Credit
 
impairment
 
releases/(charges)
22
(291)
(370)
(1,010)
(1,609)
(329)
(352)
(247)
Net
 
operating
 
income
4,421
3,195
3,411
3,000
3,035
3,123
3,398
3,656
Operating
 
costs
(2,438)
(2,133)
(2,227)
(2,186)
(2,219)
(2,240)
(2,282)
(2,435)
UK
 
bank
 
levy
-
(240)
-
-
-
(174)
-
-
Litigation
 
and
 
conduct
(21)
(9)
(28)
(11)
-
(86)
-
(11)
Total
 
operating
 
expenses
(2,459)
(2,382)
(2,255)
(2,197)
(2,219)
(2,500)
(2,282)
(2,446)
Other
 
net
 
income
9
9
9
4
6
17
21
13
Profit
 
before
 
tax
 
1,971
822
1,165
807
822
640
1,137
1,223
Attributable
 
profit
1,431
441
782
468
529
397
799
832
Balance
 
sheet
 
information
£bn
£bn
£bn
£bn
£bn
£bn
£bn
£bn
Loans
 
and
 
advances
 
at
 
amortised
 
cost
123.5
122.7
128.0
138.1
167.0
132.8
138.1
134.8
Trading
 
portfolio
 
assets
131.1
127.7
122.3
109.5
101.6
113.3
119.4
120.0
Derivative
 
financial
 
instrument
 
assets
269.4
301.8
295.9
306.8
341.5
228.9
286.0
243.8
Financial
 
assets
 
at
 
fair
 
value
 
through
 
the
 
income
 
statement
197.5
170.7
178.2
154.3
188.4
128.4
158.0
154.7
Cash
 
collateral
 
and
 
settlement
 
balances
109.7
97.5
121.8
130.8
153.2
79.4
112.5
101.3
Other
 
assets
221.7
221.4
261.7
236.3
201.5
178.6
195.6
196.8
Total
 
assets
1,052.9
1,041.8
1,107.9
1,075.8
1,153.2
861.4
1,009.6
951.4
Deposits
 
at
 
amortised
 
cost
251.2
240.5
262.4
241.2
263.3
210.0
217.6
212.0
Derivative
 
financial
 
instrument
 
liabilities
260.2
300.4
293.3
307.6
338.8
228.9
283.3
243.0
Loan:
 
deposit
 
ratio
49%
51%
49%
57%
63%
63%
63%
64%
Risk
 
weighted
 
assets
230.0
222.3
224.7
231.2
237.9
209.2
223.1
214.8
Performance
 
measures
Return
 
on
 
average
 
allocated
 
equity
17.4%
5.7%
10.0%
5.5%
6.6%
5.0%
9.6%
10.3%
Return
 
on
 
average
 
allocated
 
tangible
 
equity
17.7%
5.8%
10.2%
5.6%
6.8%
5.1%
9.9%
10.7%
Average
 
allocated
 
equity
 
(£bn)
32.8
31.1
31.2
34.2
31.9
31.9
33.3
32.1
Average
 
allocated
 
tangible
 
equity
 
(£bn)
32.3
30.5
30.6
33.5
31.2
30.9
32.2
31.1
Cost:
 
income
 
ratio
56%
68%
60%
55%
48%
72%
61%
63%
Loan
 
loss
 
rate
 
(bps)
(7)
90
112
284
377
96
99
72
Net
 
interest
 
margin
3.92%
3.41%
3.79%
3.43%
3.93%
4.29%
4.10%
3.91%
 
 
q121ex991p1i0.jpg
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Quarterly
 
Results
 
by
 
Business
Barclays
 
PLC
14
Analysis
 
of
 
Barclays
 
International
Corporate
 
and
 
Investment
 
Bank
Q121
Q420
Q320
Q220
Q120
Q419
Q319
Q219
Income
 
statement
 
information
£m
£m
£m
£m
£m
£m
£m
£m
FICC
1,204
812
1,000
1,468
1,858
726
816
920
Equities
932
542
691
674
564
409
494
517
Markets
2,136
1,354
1,691
2,142
2,422
1,135
1,310
1,437
Advisory
163
232
90
84
155
202
221
221
Equity
 
capital
 
markets
243
104
122
185
62
56
86
104
Debt
 
capital
 
markets
453
418
398
463
418
322
381
373
Banking
 
fees
859
754
610
732
635
580
688
698
Corporate
 
lending
206
186
232
61
111
202
195
216
Transaction
 
banking
393
344
372
381
449
397
424
444
Corporate
599
530
604
442
560
599
619
660
Total
 
income
1
3,594
2,638
2,905
3,316
3,617
2,314
2,617
2,795
Credit
 
impairment
 
releases/(charges)
43
(52)
(187)
(596)
(724)
(30)
(31)
(44)
Net
 
operating
 
income
3,637
2,586
2,718
2,720
2,893
2,284
2,586
2,751
Operating
 
costs
(1,886)
(1,603)
(1,716)
(1,680)
(1,690)
(1,691)
(1,712)
(1,860)
UK
 
bank
 
levy
-
(226)
-
-
-
(156)
-
-
Litigation
 
and
 
conduct
(1)
2
(3)
(3)
-
(79)
(4)
(7)
Total
 
operating
 
expenses
(1,887)
(1,827)
(1,719)
(1,683)
(1,690)
(1,926)
(1,716)
(1,867)
Other
 
net
 
income
1
2
1
3
-
1
12
3
Profit
 
before
 
tax
 
1,751
761
1,000
1,040
1,203
359
882
887
Attributable
 
profit
1,263
413
627
694
820
193
609
596
Balance
 
sheet
 
information
£bn
£bn
£bn
£bn
£bn
£bn
£bn
£bn
Loans
 
and
 
advances
 
at
 
amortised
 
cost
94.3
92.4
96.8
104.9
128.2
92.0
95.8
92.1
Trading
 
portfolio
 
assets
130.9
127.5
122.2
109.3
101.5
113.3
119.3
119.9
Derivative
 
financial
 
instruments
 
assets
269.4
301.7
295.9
306.7
341.4
228.8
286.0
243.7
Financial
 
assets
 
at
 
fair
 
value
 
through
 
the
 
income
statement
197.3
170.4
177.9
153.7
187.8
127.7
157.3
154.1
Cash
 
collateral
 
and
 
settlement
 
balances
108.8
96.7
121.0
129.7
152.2
78.5
111.6
100.4
Other
 
assets
190.8
194.9
228.9
205.5
171.4
155.3
171.5
168.1
Total
 
assets
991.5
983.6
1,042.7
1,009.8
1,082.5
795.6
941.5
878.3
Deposits
 
at
 
amortised
 
cost
185.2
175.2
195.6
173.9
198.4
146.2
152.1
145.4
Derivative
 
financial
 
instrument
 
liabilities
260.2
300.3
293.2
307.6
338.7
228.9
283.2
242.9
Risk
 
weighted
 
assets
 
201.3
192.2
193.3
198.3
201.7
171.5
184.9
175.9
Performance
 
measures
Return
 
on
 
average
 
allocated
 
equity
17.9%
6.3%
9.5%
9.5%
12.5%
3.0%
9.1%
9.2%
Return
 
on
 
average
 
allocated
 
tangible
 
equity
17.9%
6.3%
9.5%
9.6%
12.5%
3.0%
9.1%
9.2%
Average
 
allocated
 
equity
 
(£bn)
28.2
26.3
26.4
29.1
26.2
25.9
26.9
25.8
Average
 
allocated
 
tangible
 
equity
 
(£bn)
28.2
26.3
26.4
29.0
26.2
25.8
26.9
25.8
Cost:
 
income
 
ratio
53%
69%
59%
51%
47%
83%
66%
67%
1
From
 
Q121,
 
a
 
change
 
in
 
the
 
allocation
 
of
 
the
 
net
 
impact
 
of
 
treasury
 
operations
 
to
 
businesses
 
has
 
been
 
made
 
to
 
reflect
 
changes
 
in
 
the
 
business
 
balance
 
sheets.
 
 
q121ex991p1i0.jpg
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Quarterly
 
Results
 
by
 
Business
Barclays
 
PLC
15
Analysis
 
of
 
Barclays
 
International
Consumer,
 
Cards
 
and
 
Payments
Q121
Q420
Q320
Q220
Q120
Q419
Q319
Q219
Income
 
statement
 
information
£m
£m
£m
£m
£m
£m
£m
£m
Net
 
interest
 
income
478
504
518
513
663
717
720
720
Net
 
fee,
 
commission,
 
trading
 
and
 
other
 
income
327
344
358
181
364
421
413
388
Total
 
income
805
848
876
694
1,027
1,138
1,133
1,108
Credit
 
impairment
 
charges
(21)
(239)
(183)
(414)
(885)
(299)
(321)
(203)
Net
 
operating
 
income
784
609
693
280
142
839
812
905
Operating
 
costs
(552)
(530)
(511)
(506)
(529)
(549)
(570)
(575)
UK
 
bank
 
levy
-
(14)
-
-
-
(18)
-
-
Litigation
 
and
 
conduct
(20)
(11)
(25)
(8)
-
(7)
4
(4)
Total
 
operating
 
expenses
(572)
(555)
(536)
(514)
(529)
(574)
(566)
(579)
Other
 
net
 
income
8
7
8
1
6
16
9
10
Profit/(loss)
 
before
 
tax
220
61
165
(233)
(381)
281
255
336
Attributable
 
profit/(loss)
168
28
155
(226)
(291)
204
190
236
Balance
 
sheet
 
information
£bn
£bn
£bn
£bn
£bn
£bn
£bn
£bn
Loans
 
and
 
advances
 
at
 
amortised
 
cost
29.2
30.3
31.2
33.2
38.8
40.8
42.3
42.7
Total
 
assets
61.4
58.2
65.2
66.0
70.7
65.8
68.1
73.1
Deposits
 
at
 
amortised
 
cost
66.0
65.3
66.8
67.3
64.9
63.8
65.5
66.6
Risk
 
weighted
 
assets
 
28.8
30.1
31.4
32.9
36.2
37.7
38.2
38.9
Performance
 
measures
Return
 
on
 
average
 
allocated
 
equity
14.5%
2.4%
12.9%
(17.7%)
(20.7%)
13.6%
11.8%
14.9%
Return
 
on
 
average
 
allocated
 
tangible
 
equity
16.5%
2.7%
14.7%
(20.2%)
(23.5%)
15.9%
14.2%
17.8%
Average
 
allocated
 
equity
 
(£bn)
4.6
4.8
4.8
5.1
5.7
6.0
6.4
6.3
Average
 
allocated
 
tangible
 
equity
 
(£bn)
4.1
4.2
4.2
4.5
5.0
5.1
5.3
5.3
Cost:
 
income
 
ratio
71%
65%
61%
74%
52%
50%
50%
52%
Loan
 
loss
 
rate
 
(bps)
27
286
211
455
846
273
283
180
 
 
q121ex991p1i0.jpg
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Quarterly
 
Results
 
by
 
Business
Barclays
 
PLC
16
Head
 
Office
Q121
Q420
Q320
Q220
Q120
Q419
Q319
Q219
Income
 
statement
 
information
£m
£m
£m
£m
£m
£m
£m
£m
Net
 
interest
 
income
(178)
(86)
(48)
(180)
(79)
(99)
(117)
(95)
Net
 
fee,
 
commission
 
and
 
other
 
income
103
(85)
(79)
41
14
(11)
62
(41)
Total
 
income
(75)
(171)
(127)
(139)
(65)
(110)
(55)
(136)
Credit
 
impairment
 
charges
-
(31)
(5)
(30)
(25)
(4)
(8)
(3)
Net
 
operating
 
expenses
(75)
(202)
(132)
(169)
(90)
(114)
(63)
(139)
Operating
 
costs
(71)
(213)
(69)
(106)
(11)
(45)
(59)
(44)
UK
 
bank
 
levy
-
(9)
-
-
-
(11)
-
-
Litigation
 
and
 
conduct
(9)
(42)
(23)
(3)
(5)
(23)
(88)
(1)
Total
 
operating
 
expenses
(80)
(264)
(92)
(109)
(16)
(79)
(147)
(45)
Other
 
net
 
income/(expenses)
123
8
10
(43)
2
3
6
15
Loss
 
before
 
tax
 
(32)
(458)
(214)
(321)
(104)
(190)
(204)
(169)
Attributable
 
loss
(25)
(381)
(284)
(255)
(99)
(154)
(184)
(126)
Balance
 
sheet
 
information
£bn
£bn
£bn
£bn
£bn
£bn
£bn
£bn
Total
 
assets
17.7
18.6
19.3
21.7
23.6
21.0
22.9
22.4
Risk
 
weighted
 
assets
10.7
10.2
9.8
9.9
10.0
11.0
13.4
28.1
Performance
 
measures
Average
 
allocated
 
equity
 
(£bn)
8.1
11.2
11.5
10.3
9.6
8.8
9.2
8.1
Average
 
allocated
 
tangible
 
equity
 
(£bn)
4.3
7.3
7.6
6.4
5.6
5.2
5.8
4.8
 
 
q121ex991p1i0.jpg
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Performance
 
Management
Barclays
 
PLC
17
Margins
 
and
 
balances
Three
 
months
 
ended
 
31.03.21
Three
 
months
 
ended
 
31.03.20
Net
 
interest
income
Average
customer
assets
 
Net
 
interest
margin
Net
 
interest
income
Average
customer
assets
 
Net
 
interest
margin
£m
£m
%
£m
£m
%
Barclays
 
UK
1,281
204,663
 
2.54
1,412
195,204
 
2.91
Barclays
 
International
1,2
755
78,230
 
3.92
980
100,171
 
3.93
Total
 
Barclays
 
UK
 
and
 
Barclays
 
International
2,036
282,893
 
2.92
2,392
295,375
 
3.26
Other
3
(185)
(61)
Total
 
Barclays
 
Group
1,851
2,331
1
Barclays
 
International
 
margins
 
include
 
IEL
 
balances
 
within
 
the
 
investment
 
banking
 
business.
2
Barclays
 
amended
 
the
 
presentation
 
of
 
the
 
premium
 
paid
 
for
 
purchased
 
financial
 
guarantees
 
which
 
are
 
embedded
 
in
 
notes
 
it
 
issues
 
directly
 
to
 
the
 
market
 
in
 
Q420
from
 
net
 
investment
 
income
 
to
 
interest
 
expense
 
within
 
net
 
interest
 
income.
 
Had
 
the
 
equivalent
 
Q120
 
interest
 
expense
 
been
 
recognised
 
in
 
net
 
interest
 
income,
 
the
Barclays
 
International
 
and
 
Total
 
Barclays
 
UK
 
and
 
Barclays
 
International
 
NIMs
 
would
 
have
 
been
 
3.84%
 
and
 
3.22%
 
respectively.
3
Other
 
includes
 
Head
 
Office
 
and
 
non-lending
 
related
 
investment
 
banking
 
businesses
 
not
 
included
 
in
 
Barclays
 
International
 
margins.
The
 
Group’s
 
combined
 
product
 
and
 
equity
 
structural
 
hedge
 
notional
 
as
 
at
 
31
 
March
 
2021
 
was
 
£192bn,
 
with
 
an
 
average
 
duration
 
of
2.5
 
to
 
3
 
years.
 
Group
 
net
 
interest
 
income
 
includes
 
gross
 
structural
 
hedge
 
contributions
 
of
 
£0.3bn
 
(Q120:
 
£0.4bn)
 
and
 
net
 
struct
 
ural
hedge
 
contributions
 
of
 
£0.3bn
 
(Q120:
 
£0.2bn).
 
Gross
 
structural
 
hedge
 
contributions
 
represent
 
the
 
absolute
 
level
 
of
 
interest
 
earned
from
 
the
 
fixed
 
receipts
 
on
 
the
 
basket
 
of
 
swaps
 
in
 
the
 
structural
 
hedge,
 
while
 
the
 
net
 
structural
 
hedge
 
contributions
 
represent
 
the
net
 
interest
 
earned
 
on
 
the
 
difference
 
between
 
the
 
structural
 
hedge
 
rate
 
and
 
prevailing
 
floating
 
rates
.
Quarterly
 
analysis
 
for
 
Barclays
 
UK
 
and
 
Barclays
 
International
Net
 
interest
income
Average
customer
assets
Net
 
interest
margin
Three
 
months
 
ended
 
31.12.20
£m
£m
%
Barclays
 
UK
 
1,317
 
204,315
 
2.56
Barclays
 
International
1,2
 
696
 
81,312
 
3.41
Total
 
Barclays
 
UK
 
and
 
Barclays
 
International
 
2,013
 
285,627
 
2.80
Three
 
months
 
ended
 
30.09.20
Barclays
 
UK
 
1,280
 
203,089
 
2.51
Barclays
 
International
1,2
 
838
 
88,032
 
3.79
Total
 
Barclays
 
UK
 
and
 
Barclays
 
International
 
2,118
 
291,121
 
2.89
Three
 
months
 
ended
 
30.06.20
Barclays
 
UK
1,225
199,039
2.48
Barclays
 
International
1,2
868
101,706
3.43
Total
 
Barclays
 
UK
 
and
 
Barclays
 
International
2,093
300,745
2.80
1
Barclays
 
International
 
margins
 
include
 
IEL
 
balances
 
within
 
the
 
investment
 
banking
 
business.
2
The
 
reclassification
 
of
 
expense
 
of
 
the
 
premium
 
paid
 
for
 
purchased
 
financial
 
guarantees
 
from
 
net
 
investment
 
income
 
to
 
net
 
interest
 
income
 
was
 
recognised
 
in
 
full
 
in
Q420
 
and
 
resulted
 
in
 
a
 
0.48%
 
reduction
 
on
 
the
 
Q420
 
Barclays
 
Inte
 
rnational
 
NIM
 
and
 
0.14%
 
reduction
 
on
 
the
 
Q420
 
Total
 
Barclays
 
UK
 
and
 
Barclays
 
International
 
NIM.
Had
 
the
 
equivalent
 
impact
 
been
 
reflected
 
in
 
the
 
respective
 
quarters,
 
the
 
Barclays
 
International
 
NIM
 
would
 
have
 
been
 
3.33%
 
in
 
Q220,
 
3.68%
 
in
 
Q320
 
and
 
3.77%
 
in
Q420.
 
Total
 
Barclays
 
UK
 
and
 
Barclays
 
International
 
NIMs
 
would
 
have
 
been
 
2.77%
 
in
 
Q220,
 
2.86%
 
in
 
Q320
 
and
 
2.91%
 
in
 
Q420
 
respectively.
 
 
q121ex991p1i0.jpg
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Credit
 
Risk
Barclays
 
PLC
18
Loans
 
and
 
advances
 
at
 
amortised
 
cost
 
by
 
stage
The
 
table
 
below
 
presents
 
an
 
analysis
 
of
 
loans
 
and
 
advances
 
at
 
amortised
 
cost
 
by
 
gross
 
exposure,
 
impairment
 
allowance,
impairment
 
charge
 
and
 
coverage
 
ratio
 
by
 
stage
 
allocation
 
and
 
business
 
segment
 
as
 
at
 
31
 
March
 
2021.
 
Also
 
included
 
are
 
off
 
-balance
sheet
 
loan
 
commitments
 
and
 
financial
 
guarantee
 
contracts
 
by
 
gross
 
exposure,
 
impairment
 
allowance
 
and
 
coverage
 
ratio
 
by
 
stage
allocation
 
as
 
at
 
31
 
March
 
2021.
Impairment
 
allowance
 
under
 
IFRS
 
9
 
considers
 
both
 
the
 
drawn
 
and
 
the
 
undrawn
 
counterparty
 
exposure.
 
For
 
retail
 
portfolios,
 
the
total
 
impairment
 
allowance
 
is
 
allocated
 
to
 
the
 
drawn
 
exposure
 
to
 
the
 
extent
 
that
 
the
 
allowance
 
does
 
not
 
exceed
 
the
 
exposure,
 
as
expected
 
credit
 
loss
 
(ECL)
 
is
 
not
 
reported
 
separately.
 
Any
 
excess
 
is
 
reported
 
on
 
the
 
liability
 
side
 
of
 
the
 
balance
 
sheet
 
as
 
a
 
provision.
For
 
wholesale
 
portfolios,
 
the
 
impairment
 
allowance
 
on
 
the
 
undrawn
 
exposure
 
is
 
reported
 
on
 
the
 
liability
 
side
 
of
 
the
 
balance
 
sheet
as
 
a
 
provision.
Gross
 
exposure
Impairment
 
allowance
Net
exposure
Stage
 
1
Stage
 
2
 
Stage
 
3
Total
Stage
 
1
Stage
 
2
 
Stage
 
3
Total
As
 
at
 
31.03.21
£m
£m
£m
£m
£m
£m
£m
£m
£m
Barclays
 
UK
155,477
24,114
2,833
182,424
308
1,422
1,089
2,819
179,605
Barclays
 
International
19,955
5,219
1,858
27,032
364
1,198
1,101
2,663
24,369
Head
 
Office
4,011
565
778
5,354
4
45
358
407
4,947
Total
 
Barclays
 
Group
 
retail
179,443
29,898
5,469
214,810
676
2,665
2,548
5,889
208,921
Barclays
 
UK
32,208
4,092
1,088
37,388
11
135
102
248
37,140
Barclays
 
International
84,199
14,855
1,779
100,833
316
508
835
1,659
99,174
Head
 
Office
542
 
-
 
32
574
 
-
 
 
-
 
31
31
543
Total
 
Barclays
 
Group
wholesale
1
116,949
18,947
2,899
138,795
327
643
968
1,938
136,857
Total
 
loans
 
and
 
advances
 
at
amortised
 
cost
296,392
48,845
8,368
353,605
1,003
3,308
3,516
7,827
345,778
Off-balance
 
sheet
 
loan
commitments
 
and
 
financial
guarantee
 
contracts
2
298,695
50,618
787
350,100
228
731
43
1,002
349,098
Total
3
595,087
99,463
9,155
703,705
1,231
4,039
3,559
8,829
694,876
As
 
at
 
31.03.21
Three
 
months
 
ended
 
31.03.21
Coverage
 
ratio
 
Loan
 
impairment
 
charge
 
and
 
loan
 
loss
 
rate
4
Stage
 
1
Stage
 
2
 
Stage
 
3
Total
Loan
 
impairment
charge
Loan
 
loss
 
rate
%
%
%
%
£m
bps
Barclays
 
UK
0.2
5.9
38.4
1.5
28
6
Barclays
 
International
1.8
23.0
59.3
9.9
20
30
Head
 
Office
0.1
8.0
46.0
7.6
(1)
-
Total
 
Barclays
 
Group
 
retail
0.4
8.9
46.6
2.7
47
9
Barclays
 
UK
-
3.3
9.4
0.7
14
15
Barclays
 
International
0.4
3.4
46.9
1.6
55
22
Head
 
Office
-
-
96.9
5.4
1
71
Total
 
Barclays
 
Group
wholesale
1
0.3
3.4
33.4
1.4
70
20
Total
 
loans
 
and
 
advances
 
at
amortised
 
cost
0.3
6.8
42.0
2.2
117
13
Off-balance
 
sheet
 
loan
commitments
 
and
 
financial
guarantee
 
contracts
2
0.1
1.4
5.5
0.3
(57)
Other
 
financial
 
assets
 
subject
to
 
impairment
3
(5)
Total
4
0.2
4.1
38.9
1.3
55
1
Includes
 
Wealth
 
and
 
Private
 
Banking
 
exposures
 
measured
 
on
 
an
 
individual
 
customer
 
exposure
 
basis,
 
and
 
excludes
 
Business
 
Banking
 
exposures
 
that
 
are
 
managed
 
on
a
 
collective
 
basis.
 
The
 
net
 
impact
 
is
 
a
 
difference
 
in
 
total
 
exposure
 
of
 
£8,133m
 
of
 
balances
 
reported
 
as
 
wholesale
 
loans
 
on
 
page
 
20
 
in
 
the
 
Loans
 
and
 
advances
 
at
amortised
 
cost
 
by
 
product
 
disclosure.
2
Excludes
 
loan
 
commitments
 
and
 
financial
 
guarantees
 
of
 
£18.9bn
 
carried
 
at
 
fair
 
value.
3
Other
 
financial
 
assets
 
subject
 
to
 
impairment
 
not
 
included
 
in
 
the
 
table
 
above
 
include
 
cash
 
collateral
 
and
 
settlement
 
balances,
 
financial
 
assets
 
at
 
fair
 
value
 
through
other
 
comprehensive
 
income
 
and
 
other
 
assets.
 
These
 
have
 
a
 
total
 
gross
 
exposure
 
of
 
£188.1bn
 
and
 
impairment
 
allowance
 
of
 
£130m.
 
This
 
comprises
 
£19m
 
ECL
 
on
£186.3bn
 
stage
 
1
 
assets,
 
£3m
 
on
 
£1.7bn
 
stage
 
2
 
fair
 
value
 
through
 
other
 
comprehensive
 
income
 
assets,
 
other
 
assets,
 
cash
 
collatera
 
l
 
and
 
settlement
 
balances
 
and
£108m
 
on
 
£113m
 
stage
 
3
 
other
 
assets.
4
Q121
 
loan
 
impairment
 
charge
 
represents
 
three
 
months
 
of
 
impairment
 
charge,
 
annualised
 
to
 
calculate
 
the
 
loan
 
loss
 
rate.
 
The
 
loan
 
loss
 
rate
 
is
 
6bps
 
after
 
applying
 
the
total
 
impairment
 
charge
 
of
 
£55m.
 
 
 
q121ex991p1i0.jpg
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Credit
 
Risk
Barclays
 
PLC
19
Gross
 
exposure
Impairment
 
allowance
Net
exposure
Stage
 
1
Stage
 
2
 
Stage
 
3
Total
Stage
 
1
Stage
 
2
 
Stage
 
3
Total
As
 
at
 
31.12.20
£m
£m
£m
£m
£m
£m
£m
£m
£m
Barclays
 
UK
153,250
23,896
2,732
179,878
332
1,509
1,147
2,988
176,890
Barclays
 
International
1
21,048
5,500
1,992
28,540
396
1,329
1,205
2,930
25,610
Head
 
Office
4,267
720
844
5,831
4
51
380
435
5,396
Total
 
Barclays
 
Group
 
retail
178,565
30,116
5,568
214,249
732
2,889
2,732
6,353
207,896
Barclays
 
UK
31,918
4,325
1,126
37,369
13
129
116
258
37,111
Barclays
 
International
1
79,911
16,565
2,270
98,746
288
546
859
1,693
97,053
Head
 
Office
570
 
-
 
33
603
 
-
 
 
-
 
31
31
572
Total
 
Barclays
 
Group
wholesale
2
112,399
20,890
3,429
136,718
301
675
1,006
1,982
134,736
Total
 
loans
 
and
 
advances
 
at
amortised
 
cost
290,964
51,006
8,997
350,967
1,033
3,564
3,738
8,335
342,632
Off-balance
 
sheet
 
loan
commitments
 
and
 
financial
guarantee
 
contracts
3
289,939
52,891
2,330
345,160
256
758
50
1,064
344,096
Total
4
580,903
103,897
11,327
696,127
1,289
4,322
3,788
9,399
686,728
As
 
at
 
31.12.20
Year
 
ended
 
31.12.20
Coverage
 
ratio
 
Loan
 
impairment
 
charge
 
and
 
loan
 
loss
 
rate
4
Stage
 
1
Stage
 
2
 
Stage
 
3
Total
Loan
 
impairment
charge
Loan
 
loss
 
rate
%
%
%
%
£m
bps
Barclays
 
UK
0.2
6.3
42.0
1.7
1,070
59
Barclays
 
International
1
1.9
24.2
60.5
10.3
1,680
589
Head
 
Office
0.1
7.1
45.0
7.5
91
156
Total
 
Barclays
 
Group
 
retail
0.4
9.6
49.1
3.0
2,841
133
Barclays
 
UK
-
3.0
10.3
0.7
154
41
Barclays
 
International
1
0.4
3.3
37.8
1.7
914
93
Head
 
Office
-
-
93.9
5.1
 
-
 
 
-
 
Total
 
Barclays
 
Group
wholesale
2
0.3
3.2
29.3
1.4
1,068
78
Total
 
loans
 
and
 
advances
 
at
amortised
 
cost
0.4
7.0
41.5
2.4
3,909
111
Off-balance
 
sheet
 
loan
commitments
 
and
 
financial
guarantee
 
contracts
3
0.1
1.4
2.1
0.3
776
Other
 
financial
 
assets
 
subject
to
 
impairment
4
153
Total
5
0.2
4.2
33.4
1.4
4,838
1
Private
 
Banking
 
have
 
refined
 
the
 
methodology
 
to
 
classify
£5bn
 
of
their
 
exposure
 
between
 
Wholesale
 
and
 
Retail
 
during
 
the
 
year.
2
Includes
 
Wealth
 
and
 
Private
 
Banking
 
exposures
 
measured
 
on
 
an
 
individual
 
customer
 
exposure
 
basis,
 
and
 
excludes
 
Business
 
Banking
 
exposures
 
that
 
are
 
managed
 
on
a
 
collective
 
basis.
 
The
 
net
 
impact
 
is
 
a
 
difference
 
in
 
total
 
exposure
 
of
 
£7,551m
 
of
 
balances
 
reporte
 
d
 
as
 
wholesale
 
loans
 
on
 
page
 
20
 
in
 
the
 
Loans
 
and
 
advances
 
at
amortised
 
cost
 
by
 
product
 
disclosure.
3
Excludes
 
loan
 
commitments
 
and
 
financial
 
guarantees
 
of
 
£9.5bn
 
carried
 
at
 
fair
 
value.
4
Other
 
financial
 
assets
 
subject
 
to
 
impairment
 
not
 
included
 
in
 
the
 
table
 
above
 
include
 
cash
 
collateral
 
and
 
settlement
 
balances,
 
financial
 
assets
 
at
 
fair
 
value
 
through
other
 
comprehensive
 
income
 
and
 
other
 
assets.
 
These
 
have
 
a
 
total
 
gross
 
exposure
 
of
 
£180.3bn
 
and
 
impairment
 
allowance
 
of
 
£165m.
 
This
 
comprises
 
£11m
 
ECL
 
on
£175.7bn
 
stage
 
1
 
assets,
 
£9m
 
on
 
£4.4bn
 
stage
 
2
 
fair
 
value
 
through
 
other
 
comprehensive
 
income
 
assets,
 
other
 
assets,
 
cash
 
collateral
 
and
 
settlement
 
balances
 
and
£145m
 
on
 
£154m
 
stage
 
3
 
other
 
assets.
5
The
 
loan
 
loss
 
rate
 
is
 
138bps
 
after
 
applying
 
the
 
total
 
impairment
 
charge
 
of
 
£4,838m.
 
 
q121ex991p1i0.jpg
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Credit
 
Risk
Barclays
 
PLC
20
Loans
 
and
 
advances
 
at
 
amortised
 
cost
 
by
 
product
The
 
table
 
below
 
presents
 
a
 
breakdown
 
of
 
loans
 
and
 
advances
 
at
 
amortised
 
cost
 
and
 
the
 
impairment
 
allowance
 
with
 
stage
allocation
 
by
 
asset
 
classification.
Stage
 
2
As
 
at
 
31.03.21
Stage
 
1
Not
 
past
due
<=30
 
days
past
 
due
>30
 
days
past
 
due
Total
Stage
 
3
Total
Gross
 
exposure
£m
£m
£m
£m
£m
£m
£m
Home
 
loans
141,273
16,919
1,960
1,059
19,938
2,229
163,440
Credit
 
cards,
 
unsecured
 
loans
 
and
 
other
 
retail
 
lending
30,797
8,785
344
289
9,418
3,022
43,237
Wholesale
 
loans
 
124,322
18,959
329
201
19,489
3,117
146,928
Total
296,392
44,663
2,633
1,549
48,845
8,368
353,605
Impairment
 
allowance
Home
 
loans
34
55
13
11
79
397
510
Credit
 
cards,
 
unsecured
 
loans
 
and
 
other
 
retail
 
lending
624
2,228
144
177
2,549
2,091
5,264
Wholesale
 
loans
 
345
672
5
3
680
1,028
2,053
Total
1,003
2,955
162
191
3,308
3,516
7,827
Net
 
exposure
Home
 
loans
141,239
16,864
1,947
1,048
19,859
1,832
162,930
Credit
 
cards,
 
unsecured
 
loans
 
and
 
other
 
retail
 
lending
30,173
6,557
200
112
6,869
931
37,973
Wholesale
 
loans
 
123,977
18,287
324
198
18,809
2,089
144,875
Total
295,389
41,708
2,471
1,358
45,537
4,852
345,778
Coverage
 
ratio
%
%
%
%
%
%
%
Home
 
loans
-
0.3
0.7
1.0
0.4
17.8
0.3
Credit
 
cards,
 
unsecured
 
loans
 
and
 
other
 
retail
 
lending
2.0
25.4
41.9
61.2
27.1
69.2
12.2
Wholesale
 
loans
 
0.3
3.5
1.5
1.5
3.5
33.0
1.4
Total
0.3
6.6
6.2
12.3
6.8
42.0
2.2
As
 
at
 
31.12.20
Gross
 
exposure
£m
£m
£m
£m
£m
£m
£m
Home
 
loans
138,639
16,651
1,785
876
19,312
2,234
160,185
Credit
 
cards,
 
unsecured
 
loans
 
and
 
other
 
retail
 
lending
33,021
9,470
544
306
10,320
3,172
46,513
Wholesale
 
loans
 
119,304
19,501
1,097
776
21,374
3,591
144,269
Total
290,964
45,622
3,426
1,958
51,006
8,997
350,967
Impairment
 
allowance
Home
 
loans
33
57
13
14
84
421
538
Credit
 
cards,
 
unsecured
 
loans
 
and
 
other
 
retail
 
lending
680
2,382
180
207
2,769
2,251
5,700
Wholesale
 
loans
 
320
650
50
11
711
1,066
2,097
Total
1,033
3,089
243
232
3,564
3,738
8,335
Net
 
exposure
Home
 
loans
138,606
16,594
1,772
862
19,228
1,813
159,647
Credit
 
cards,
 
unsecured
 
loans
 
and
 
other
 
retail
 
lending
32,341
7,088
364
99
7,551
921
40,813
Wholesale
 
loans
 
118,984
18,851
1,047
765
20,663
2,525
142,172
Total
289,931
42,533
3,183
1,726
47,442
5,259
342,632
Coverage
 
ratio
%
%
%
%
%
%
%
Home
 
loans
-
0.3
0.7
1.6
0.4
18.8
0.3
Credit
 
cards,
 
unsecured
 
loans
 
and
 
other
 
retail
 
lending
2.1
25.2
33.1
67.6
26.8
71.0
12.3
Wholesale
 
loans
 
0.3
3.3
4.6
1.4
3.3
29.7
1.5
Total
0.4
6.8
7.1
11.8
7.0
41.5
2.4
 
 
q121ex991p1i0.jpg
Credit
 
Risk
Barclays
 
PLC
21
Measurement
 
uncertainty
During
 
the
 
latter
 
part
 
of
 
Q121,
 
macroeconomic
 
indicators
 
became
 
more
 
positive
 
than
 
at
 
Q420,
 
particularly
 
in
 
the
 
UK
 
with
 
improved
economic
 
growth
 
and
 
lower
 
unemployment
 
consensus
 
forecasts
 
in
 
response
 
to
 
the
 
UK
 
Budget
 
announcement
 
on
 
3
 
March
 
2021
and
 
the
 
progress
 
of
 
the
 
COVID
 
-19
 
vaccine
 
roll
 
out
 
programme.
 
In
 
the
 
US,
 
new
 
government
 
stimulus
 
was
 
announced
 
in
 
March
 
2021,
including
 
a
 
$1.9trn
 
Rescue
 
Plan,
 
and
 
a
 
COVID
 
-19
 
vaccine
 
programme
 
well
 
underway.
 
However,
 
global
 
economic
 
uncertainty
remains
 
high
 
as
 
the
 
COVID
 
-19
 
pandemic
 
continues
 
to
 
evolve
 
and
 
practical
 
challenges
 
remain
 
in
 
inoculation
 
programmes.
 
In
 
response
 
to
 
the
 
changing
 
economic
 
environment,
 
key
 
baseline
 
macroeconomic
 
indicators
 
were
 
refreshed
 
at
 
Q121.
 
However,
because
 
the
 
macroeconomic
 
outlook
 
remains
 
uncertain
 
and
 
has
 
only
 
recently
 
shown
 
improvement,
 
the
 
impact
 
from
 
these
consensus
 
updates
 
has
 
not
 
been
 
reflected
 
in
 
the
 
Q121
 
ECL
 
provision
 
level.
 
This
 
has
 
been
 
based
 
on
 
the
 
more
 
conservative
macroeconomic
 
indicators
 
of
 
the
 
Q420
 
ECL
 
scenarios,
 
rolled
 
forward
 
by
 
on
 
e
 
quarter,
 
and
 
updated
 
to
 
reflect
 
changes
 
in
 
balances
and
 
individually
 
assessed
 
impaired
 
names
 
during
 
the
 
quarter.
 
If
 
these
 
favourable
 
macroeconomic
 
indicators
 
persist,
 
an
 
adjustment
will
 
be
 
made
 
to
 
the
 
provision
 
level.
 
Sensitivity
 
analysis
 
has
 
been
 
com
 
pleted
 
to
 
estimate
 
the
 
impact
 
of
 
applying
 
the
 
refreshed
 
Q121
 
baseline
 
to
 
material
 
portfolios.
 
This
high-level
 
analysis
 
indicated
 
that,
 
all
 
other
 
things
 
being
 
equal,
 
this
 
change
 
in
 
key
 
macroeconomic
 
variables
 
would
 
result
 
in
 
a
reduction
 
to
 
the
 
modelled
 
ECL
 
stock
 
of
 
c£0.5bn
 
from
 
the
 
material
 
portfolios,
 
should
 
positive
 
macroeconomic
 
indicators
 
persist.
 
The
macroeconomic
 
variables
 
used
 
in
 
the
 
sensitivity
 
analysis
 
are
 
disclosed
 
on
 
the
 
following
 
page.
Management
 
adjustments
 
to
 
models
 
for
 
impairment
The
 
real
 
economic
 
impact
 
of
 
the
 
COVID
 
-19
 
pandemic
 
may
 
only
 
become
 
clear
 
once
 
support
 
measures
 
put
 
in
 
place
 
by
 
governments
begin
 
to
 
fall
 
away.
 
Government
 
support
 
schemes
 
are
 
currently
 
scheduled
 
to
 
run
 
until
 
cQ321
 
in
 
the
 
major
 
jurisdictions
 
in
 
which
Barclays
 
operates
 
.
 
In
 
addition
 
to
 
the
 
above
 
ECL
 
model
 
sensitivity
 
for
 
which
 
no
 
adjustment
 
has
 
been
 
made,
 
management
adjustments
 
to
 
models
 
for
 
impairment
 
were
 
retained
 
and
 
amounted
 
to
 
£1,223m
 
(Q420:
 
£1,388m).
 
These
 
included
 
economic
uncertainty
 
adjustments
 
recognised
 
at
 
year
 
end
 
2020
 
which
 
addressed
 
the
 
temporary
 
nature
 
of
 
ongoing
 
government
 
support,
 
the
uncertainty
 
in
 
relation
 
to
 
the
 
timing
 
of
 
stress
 
and
 
the
 
range
 
of
 
economic
 
uncertainty.
 
The
 
tables
 
below
 
show
 
the
 
primary
 
consensus
 
macroeconomic
 
variables
 
in
 
the
 
Q121
 
Baseline
 
scenario
 
and
 
the
 
probability
 
weights
applied
 
to
 
each
 
rolled
 
forward
 
scenario.
 
 
q121ex991p1i0.jpg
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Credit
 
Risk
Barclays
 
PLC
22
Baseline
 
average
 
macroeconomic
 
variables
 
used
 
in
 
the
 
calculation
 
of
 
ECL
The
 
calculation
 
of
 
ECL
 
was
 
based
 
on
 
the
 
Q420
 
macroeconomic
 
variables
 
rolled
 
forward
 
by
 
one
 
quarter.
2021
2022
2023
As
 
at
 
31.03.21
 
 
%
 
%
%
UK
 
GDP
1
3.3
3.4
2.9
UK
 
unemployment
2
6.0
6.6
6.0
UK
 
HPI
3
2.4
2.3
4.2
UK
 
bank
 
rate
0.1
(0.1)
-
US
 
GDP
1
1.9
3.2
2.9
US
 
unemployment
4
7.3
5.8
5.6
US
 
HPI
5
2.4
4.2
4.7
US
 
federal
 
funds
 
rate
0.3
0.3
0.3
2021
2022
2023
As
 
at
 
31.12.20
 
%
 
%
%
UK
 
GDP
1
6.3
3.3
2.6
UK
 
unemployment
2
6.7
6.4
5.8
UK
 
HPI
3
2.4
2.3
5.0
UK
 
bank
 
rate
-
(0.1)
-
US
 
GDP
1
3.9
3.1
2.9
US
 
unemployment
4
6.9
5.7
5.6
US
 
HPI
5
2.8
4.7
4.7
US
 
federal
 
funds
 
rate
0.3
0.3
0.3
Baseline
 
average
 
macroeconomic
 
variables
 
refreshed
 
for
 
sensitivity
 
analysis
Sensitivity
 
analysis
 
was
 
performed
 
by
 
considering
 
a
 
refreshed
 
Q121
 
baseline
 
scenario
 
relative
 
to
 
the
 
rolled
 
forward
 
baseline
scenario
 
against
 
material
 
portfolios,
 
using
 
the
 
macro
 
economic
 
variables
 
in
 
the
 
table
 
below.
2021
2022
2023
As
 
at
 
31.03.21
 
 
%
 
%
%
UK
 
GDP
1
5.0
5.7
2.3
UK
 
unemployment
2
5.8
5.6
5.1
UK
 
HPI
3
(0.5)
0.3
3.6
UK
 
bank
 
rate
0.1
0.3
0.4
US
 
GDP
1
5.5
3.8
1.6
US
 
unemployment
4
5.7
4.5
4.5
US
 
HPI
5
3.9
3.5
3.5
US
 
federal
 
funds
 
rate
0.3
0.3
0.7
1
 
Average
 
Real
 
GDP
 
seasonally
 
adjusted
 
change
 
in
 
year.
2
 
Average
 
UK
 
unemployment
 
rate
 
16-year+.
3
 
Change
 
in
 
year-end
 
UK
 
HPI
 
=
 
Halifax
 
All
 
Houses,
 
All
 
Buyers
 
index,
 
relative
 
to
 
prior
 
year
 
end.
4
 
Average
 
US
 
civilian
 
unemployment
 
rate
 
16-year+.
5
 
Change
 
in
 
year-end
 
US
 
HPI
 
=
 
FHFA
 
house
 
price
 
index,
 
relative
 
to
 
prior
 
year
 
end.
Scenario
 
probability
 
weighting
Upside
 
2
Upside
 
1
Baseline
Downside
 
1
Downside
 
2
 
%
 
%
 
%
 
%
 
%
As
 
at
 
31.03.21
Scenario
 
probability
 
weighting
20.2
24.2
24.7
15.5
15.4
As
 
at
 
31.12.20
Scenario
 
probability
 
weighting
20.2
24.2
24.7
15.5
15.4
 
 
q121ex991p1i0.jpg
Treasury
 
and
 
Capital
 
Risk
Barclays
 
PLC
23
Capital
The
 
Group’s
 
Overall
 
Capital
 
Requirement
 
for
 
CET1
 
is
 
11.1%
 
comprising
 
a
 
4.5%
 
Pillar
 
1
 
minimum,
 
a
 
2.5%
 
Capital
 
Conservation
 
Buffer
(CCB),
 
a
 
1.5%
 
Global
 
Systemically
 
Important
 
Institution
 
(G-SII)
 
buffer,
 
a
 
2.6%
 
Pillar
 
2A
 
requirement
 
and
 
a
 
0.0%
 
Countercyclical
Capital
 
Buffer
 
(CCyB).
The
 
Group’s
 
CCyB
 
is
 
based
 
on
 
the
 
buffer
 
rate
 
applicable
 
for
 
each
 
jurisdiction
 
in
 
which
 
the
 
Group
 
has
 
exposures.
 
On
 
11
 
March
 
2020,
the
 
Financial
 
Policy
 
Committee
 
(FPC)
 
set
 
the
 
CCyB
 
rate
 
for
 
UK
 
exposures
 
at
 
0%
 
with
 
immediate
 
effect.
 
The
 
buffer
 
rates
 
set
 
by
 
other
national
 
authorities
 
for
 
non-UK
 
exposures
 
are
 
not
 
currently
 
material.
 
Overall,
 
this
 
results
 
in
 
a
 
0.0%
 
CCyB
 
for
 
the
 
Group.
 
The
 
Group’s
 
Pillar
 
2A
 
requirement
 
as
 
per
 
the
 
Prudential
 
Regulation
 
Authority’s
 
(PRA)
 
Individual
 
Capital
 
Requirement
 
is
 
4.7%
 
of
which
 
at
 
least
 
56.25%
 
needs
 
to
 
be
 
met
 
with
 
CET1
 
capita
 
l,
 
equating
 
to
 
approximately
 
2.6%
 
of
 
RWAs.
 
The
 
Pillar
 
2A
 
require
 
ment
 
is
subject
 
to
 
at
 
least
 
annual
 
review
 
and
 
has
 
been
 
set
 
as
 
a
 
nominal
 
capital
 
amount.
 
This
 
is
 
based
 
on
 
a
 
point
 
in
 
time
 
assessment
 
and
 
the
requirement
 
(when
 
expressed
 
as
 
a
 
proportion
 
of
 
RWAs)
 
will
 
change
 
depending
 
on
 
the
 
total
 
RWAs
 
at
 
each
 
reporting
 
period.
 
Following
 
the
 
withdrawal
 
of
 
the
 
UK
 
from
 
the
 
EU,
 
any
 
references
 
to
 
CRR
 
as
 
amended
 
by
 
CRR
 
II
 
mean,
 
unless
 
otherwise
 
specified,
CRR
 
as
 
amended
 
by
 
CRR
 
II,
 
as
 
it
 
forms
 
part
 
of
 
UK
 
law
 
pursuant
 
to
 
the
 
European
 
Union
 
(Withdrawal)
 
Act
 
2018
 
and
 
subject
 
to
 
the
temporary
 
transitional
 
powers
 
(TTP)
 
available
 
to
 
UK
 
regulators
 
to
 
delay
 
or
 
phase-in
 
on-shoring
 
changes
 
to
 
UK
 
regulatory
requirements
 
arising
 
at
 
the
 
end
 
of
 
the
 
transition
 
period
 
until
 
31
 
March
 
2022,
 
as
 
at
 
the
 
applicable
 
reporting
 
date.
 
Throughout
 
the
TTP
 
period,
 
the
 
Bank
 
of
 
England
 
(BoE)
 
and
 
PRA
 
are
 
expected
 
to
 
review
 
the
 
UK
 
legislation
 
framework
 
and
 
any
 
disclosures
 
made
 
by
the
 
Group
 
will
 
be
 
subject
 
to
 
any
 
resulting
 
guidance.
 
On
 
12
 
February
 
2021,
 
the
 
PRA
 
launched
 
a
 
consultation
 
on
 
certain
 
items
 
within
 
the
 
Basel
 
standards
 
that
 
remain
 
to
 
be
 
implemented
in
 
the
 
UK
 
as
 
well
 
as
 
setting
 
out
 
proposed
 
new
 
PRA
 
CRR
 
rules.
 
The
 
proposals
 
include
 
reverting
 
to
 
the
 
previous
 
treatment
 
of
 
100%
CET1
 
capital
 
deduction
 
for
 
qualifying
 
software
 
assets
 
by
 
the
 
end
 
of
 
2021,
 
meaning
 
the
 
c.40
 
bps
 
benefit
 
in
 
the
 
CET1
 
ratio
 
is
 
likely
 
to
be
 
reversed
 
in
 
future
 
periods.
 
 
 
q121ex991p1i0.jpg
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Treasury
 
and
 
Capital
 
Risk
Barclays
 
PLC
24
Capital
 
ratios
1,2,3
As
 
at
 
As
 
at
 
31.03.21
31.12.20
CET1
14.6%
15.1%
Tier
 
1
 
(T1)
18.4%
19.0%
Total
 
regulatory
 
capital
21.8%
22.1%
 
 
Capital
 
resources
£m
£m
Total
 
equity
 
excluding
 
non-controlling
 
interests
 
per
 
the
 
balance
 
sheet
65,105
65,797
Less:
 
other
 
equity
 
instruments
 
(recognised
 
as
 
AT1
 
capital)
(11,179)
(11,172)
Adjustment
 
to
 
retained
 
earnings
 
for
 
foreseeable
 
ordinary
 
share
 
dividends
 
(303)
(174)
Adjustment
 
to
 
retained
 
earnings
 
for
 
foreseeable
 
repurchase
 
of
 
shares
(439)
-
Adjustment
 
to
 
retained
 
earnings
 
for
 
foreseeable
 
other
 
equity
 
coupons
(42)
(30)
Other
 
regulatory
 
adjustments
 
and
 
deductions
Additional
 
value
 
adjustments
 
(PVA)
(1,496)
(1,146)
Goodwill
 
and
 
intangible
 
assets
(6,504)
(6,914)
Deferred
 
tax
 
assets
 
that
 
rely
 
on
 
future
 
profitability
 
excluding
 
temporary
 
differences
(629)
(595)
Fair
 
value
 
reserves
 
related
 
to
 
gains
 
or
 
losses
 
on
 
cash
 
flow
 
hedges
(850)
(1,575)
Gains
 
or
 
losses
 
on
 
liabilities
 
at
 
fair
 
value
 
resulting
 
from
 
own
 
credit
1,202
870
Defined
 
benefit
 
pension
 
fund
 
assets
(1,192)
(1,326)
Direct
 
and
 
indirect
 
holdings
 
by
 
an
 
institution
 
of
 
own
 
CET1
 
instruments
(50)
(50)
Adjustment
 
under
 
IFRS
 
9
 
transitional
 
arrangements
2,285
2,556
Other
 
regulatory
 
adjustments
(4)
55
CET1
 
capital
45,904
46,296
AT1
 
capital
 
Capital
 
instruments
 
and
 
related
 
share
 
premium
 
accounts
11,179
11,172
Qualifying
 
AT1
 
capital
 
(including
 
minority
 
interests)
 
issued
 
by
 
subsidiaries
 
655
646
Other
 
regulatory
 
adjustments
 
and
 
deductions
(80)
(80)
AT1
 
capital
11,754
11,738
T1
 
capital
57,658
58,034
 
T2
 
capital
Capital
 
instruments
 
and
 
related
 
share
 
premium
 
accounts
8,951
7,836
Qualifying
 
T2
 
capital
 
(including
 
minority
 
interests)
 
issued
 
by
 
subsidiaries
1,641
1,893
Credit
 
risk
 
adjustments
 
(excess
 
of
 
impairment
 
over
 
expected
 
losses)
95
57
Other
 
regulatory
 
adjustments
 
and
 
deductions
(160)
(160)
Total
 
regulatory
 
capital
68,185
67,660
Total
 
RWAs
313,356
306,203
1
 
CET1,
 
T1
 
and
 
T2
 
capital,
 
and
 
RWAs
 
are
 
calculated
 
applying
 
the
 
transitional
 
arrangements
 
of
 
the
 
CRR
 
as
 
amended
 
by
 
CRR
 
II.
 
This
 
includes
 
IFRS
 
9
 
transitional
arrangements
 
and
 
the
 
grandfathering
 
of
 
CRR
 
and
 
CRR
 
II
 
non-compliant
 
capital
 
instruments.
 
2
 
The
 
fully
 
loaded
 
CET1
 
ratio,
 
as
 
is
 
relevant
 
for
 
assessing
 
against
 
the
 
conversion
 
trigger
 
in
 
Barclays
 
PLC
 
AT1
 
securities,
 
was
 
14.0%,
 
with
 
£43.6bn
 
of
 
CET1
 
capital
 
and
£312.6bn
 
of
 
RWAs
 
calculated
 
without
 
applying
 
the
 
transitional
 
arrangements
 
of
 
the
 
CRR
 
as
 
amende
 
d
 
by
 
CRR
 
II.
3
 
The
 
Group’s
 
CET1
 
ratio,
 
as
 
is
 
relevant
 
for
 
assessing
 
against
 
the
 
conversion
 
trigger
 
in
 
Barclays
 
Bank
 
PLC
 
7.625%
 
Contingent
 
Capital
 
Notes,
 
was
 
14.6%.
 
For
 
this
calculation
 
CET1
 
capital
 
and
 
RWAs
 
are
 
calculated
 
applying
 
the
 
transitional
 
arrangem
 
ents
 
under
 
the
 
CRR
 
as
 
amended
 
by
 
CRR
 
II,
 
including
 
the
 
IFRS
 
9
 
transitional
arrangements.
 
The
 
benefit
 
of
 
the
 
Financial
 
Services
 
Authority
 
(FSA)
 
October
 
2012
 
interpretation
 
of
 
the
 
transitional
 
provisions,
 
relating
 
to
 
the
 
implementation
 
of
 
CRD
IV,
 
expired
 
in
 
December
 
2017.
 
 
q121ex991p1i0.jpg
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Treasury
 
and
 
Capital
 
Risk
Barclays
 
PLC
25
Movement
 
in
 
CET1
 
capital
Three
 
months
ended
31.03.21
£m
Opening
 
CET1
 
capital
46,296
Profit
 
for
 
the
 
period
 
attributable
 
to
 
equity
 
holders
1,899
Own
 
credit
 
relating
 
to
 
derivative
 
liabilities
14
Ordinary
 
share
 
dividends
 
paid
 
and
 
foreseen
(129)
Purchased
 
and
 
foreseeable
 
share
 
repurchase
(700)
Other
 
equity
 
coupons
 
paid
 
and
 
foreseen
(207)
Increase
 
in
 
retained
 
regulatory
 
capital
 
generated
 
from
 
earnings
877
Net
 
impact
 
of
 
share
 
schemes
(167)
Fair
 
value
 
through
 
other
 
comprehensive
 
income
 
reserve
(320)
Currency
 
translation
 
reserve
(478)
Other
 
reserves
(6)
Decrease
 
in
 
other
 
qualifying
 
reserves
(971)
Pension
 
remeasurements
 
within
 
reserves
(186)
Defined
 
benefit
 
pension
 
fund
 
asset
 
deduction
134
Net
 
impact
 
of
 
pensions
(52)
Additional
 
value
 
adjustments
 
(PVA)
(350)
Goodwill
 
and
 
intangible
 
assets
410
Deferred
 
tax
 
assets
 
that
 
rely
 
on
 
future
 
profitability
 
excluding
 
those
 
arising
 
from
 
temporary
 
differences
(34)
Adjustment
 
under
 
IFRS
 
9
 
transitional
 
arrangements
(271)
Other
 
regulatory
 
adjustments
(1)
Decrease
 
in
 
regulatory
 
capital
 
due
 
to
 
adjustments
 
and
 
deductions
(246)
Closing
 
CET1
 
capital
45,904
CET1
 
capital
 
decreased
 
£0.4bn
 
to
 
£45.9bn
 
(December
 
2020:
 
£46.3bn).
£1.9bn
 
of
 
capital
 
generated
 
from
 
profits
 
were
 
partially
 
offset
 
by
 
£1.0bn
 
dividends
 
paid
 
and
 
foreseen
 
including
 
£0.7bn
 
for
 
the
 
share
buyback
 
announced
 
with
 
FY20
 
results,
 
£0.2bn
 
of
 
equity
 
coupons
 
paid
 
and
 
a
 
£0.1bn
 
accrual
 
towards
 
a
 
FY21
 
dividend.
 
Other
significant
 
movements
 
in
 
the
 
period
 
were:
●
A
 
£0.3bn
 
reduction
 
in
 
the
 
fair
 
value
 
through
 
other
 
comprehensive
 
income
 
reserve
 
driven
 
by
 
movements
 
in
 
the
 
valuation
of
 
the
 
liquidity
 
pool
●
A
 
£0.5bn
 
decrease
 
in
 
the
 
currency
 
translation
 
reserves
 
due
 
to
 
the
 
depreciation
 
of
 
period
 
end
 
EUR
 
and
 
USD
 
against
 
GBP
●
A
 
£0.4bn
 
increase
 
in
 
the
 
PVA
 
deduction
 
due
 
to
 
the
 
removal
 
of
 
temporary
 
regulatory
 
supporting
 
measures
 
applied
 
to
certain
 
additional
 
valuation
 
adjustments
●
A
 
£0.4bn
 
decrease
 
in
 
the
 
goodwill
 
and
 
intangible
 
deduction
 
reflecting
 
new
 
qualifying
 
software
 
intangibles
 
that
 
are
 
subject
to
 
risk
 
weighting
 
rather
 
than
 
deduction
●
A
 
£0.3bn
 
decrease
 
in
 
IFRS
 
9
 
transitional
 
relief,
 
after
 
tax,
 
primarily
 
due
 
to
 
the
 
amount
 
of
 
relief
 
applied
 
to
 
the
 
pre-2020
impairment
 
charge
 
reducing
 
to
 
50%
 
in
 
2021
 
from
 
70%
 
in
 
2020
 
 
q121ex991p1i0.jpg
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Treasury
 
and
 
Capital
 
Risk
Barclays
 
PLC
26
RWAs
 
by
 
risk
 
type
 
and
 
business
Credit
 
risk
Counterparty
 
credit
 
risk
Market
 
risk
Operational
risk
Total
RWAs
Std
IRB
Std
IRB
Settlement
risk
CVA
Std
IMA
As
 
at
 
31.03.21
£m
£m
£m
£m
£m
£m
£m
£m
£m
£m
Barclays
 
UK
7,066
53,512
431
 
-
 
 
-
 
217
64
 
-
 
11,381
72,671
Corporate
 
and
 
Investment
 
Bank
25,832
75,854
13,781
19,218
102
2,452
16,479
24,083
23,452
201,253
Consumer,
 
Cards
 
and
 
Payments
18,621
2,875
178
41
 
-
 
28
 
-
 
59
6,949
28,751
Barclays
 
International
44,453
78,729
13,959
19,259
102
2,480
16,479
24,142
30,401
230,004
Head
 
Office
4,424
7,065
 
-
 
 
-
 
 
-
 
 
-
 
 
-
 
 
-
 
(808)
10,681
Barclays
 
Group
55,943
139,306
14,390
19,259
102
2,697
16,543
24,142
40,974
313,356
As
 
at
 
31.12.20
Barclays
 
UK
7,360
54,340
394
 
-
 
 
-
 
136
72
 
-
 
11,359
73,661
Corporate
 
and
 
Investment
 
Bank
24,660
73,792
12,047
20,280
246
2,351
13,123
22,363
23,343
192,205
Consumer,
 
Cards
 
and
 
Payments
19,754
3,041
177
45
 
-
 
31
 
-
 
71
6,996
30,115
Barclays
 
International
44,414
76,833
12,224
20,325
246
2,382
13,123
22,434
30,339
222,320
Head
 
Office
4,153
6,869
 
-
 
 
-
 
 
-
 
 
-
 
 
-
 
 
-
 
(800)
10,222
Barclays
 
Group
55,927
138,042
12,618
20,325
246
2,518
13,195
22,434
40,898
306,203
Movement
 
analysis
 
of
 
RWAs
Credit
 
risk
 
Counterparty
credit
 
risk
Market
 
risk
Operational
risk
Total
 
RWAs
£m
£m
£m
£m
£m
Opening
 
RWAs
 
(as
 
at
 
31.12.20)
193,969
35,707
35,629
40,898
306,203
Book
 
size
2,971
691
5,056
76
8,794
Acquisitions
 
and
 
disposals
(59)
-
-
-
(59)
Book
 
quality
628
213
-
-
841
Model
 
updates
(438)
(163)
-
-
(601)
Methodology
 
and
 
policy
(115)
-
-
-
(115)
Foreign
 
exchange
 
movements
1
(1,707)
-
-
-
(1,707)
Total
 
RWA
 
movements
1,280
741
5,056
76
7,153
Closing
 
RWAs
 
(as
 
at
 
31.03.21)
195,249
36,448
40,685
40,974
313,356
1
Foreign
 
exchange
 
movements
 
do
 
not
 
include
 
foreign
 
exchange
 
for
 
counterparty
 
credit
 
risk
 
or
 
market
 
risk.
Overall
 
RWAs
 
increased
 
£7.2bn
 
to
 
£313.4bn
 
(December
 
2020:
 
£306.2bn).
 
Significant
 
movements
 
in
 
the
 
period
 
were:
 
Credit
 
risk
 
RWAs
 
increased
 
£1.3bn:
●
A
 
£3.0bn
 
increase
 
in
 
book
 
size
 
primarily
 
due
 
to
 
increased
 
CIB
 
lending,
 
growth
 
in
 
mortgages
 
within
 
Barclays
 
UK
 
partially
offset
 
by
 
lower
 
consumer
 
lending
 
and
 
ESHLA
●
A
 
£1.7bn
 
decrease
 
due
 
to
 
the
 
depreciation
 
of
 
period
 
end
 
EUR
 
and
 
USD
 
against
 
GBP
Market
 
risk
 
RWAs
 
increased
 
£5.1bn:
●
A
 
£5.1bn
 
increase
 
in
 
book
 
size
 
primarily
 
due
 
to
 
increased
 
client
 
and
 
trading
 
activity
 
 
q121ex991p1i0.jpg
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Treasury
 
and
 
Capital
 
Risk
Barclays
 
PLC
27
Leverage
 
ratio
 
and
 
exposures
The
 
Group
 
is
 
subject
 
to
 
a
 
leverage
 
ratio
 
requirement
 
of
 
3.8%
 
as
 
at
 
31
 
March
 
2021.
 
This
 
comprises
 
the
 
3.25%
 
minimum
requirement,
 
a
 
G-SII
 
additional
 
leverage
 
ratio
 
buffer
 
(G-SII
 
ALRB)
 
of
 
0.53%
 
and
 
a
 
countercyclical
 
leverage
 
ratio
 
buffer
 
of
 
0.0%.
Although
 
the
 
leverage
 
ratio
 
is
 
expressed
 
in
 
terms
 
of
 
T1
 
capital,
 
75%
 
of
 
the
 
minimum
 
requirement,
 
equating
 
to
 
2.4375%,
 
needs
 
to
be
 
met
 
with
 
CET1
 
capital.
 
In
 
addition,
 
the
 
G-SII
 
ALRB
 
must
 
be
 
covered
 
solely
 
with
 
CET1
 
capital.
 
The
 
CET1
 
capital
 
held
 
against
 
the
0.53%
 
G-SII
 
ALRB
 
was
 
£6.2bn.
The
 
Group
 
is
 
required
 
to
 
disclose
 
an
 
average
 
UK
 
leverage
 
ratio
 
which
 
is
 
based
 
on
 
capital
 
on
 
the
 
last
 
day
 
of
 
each
 
mont
 
h
 
in
 
the
quarter
 
and
 
an
 
exposure
 
measure
 
for
 
each
 
day
 
in
 
the
 
quarter.
 
The
 
Group
 
is
 
also
 
required
 
to
 
disclose
 
a
 
UK
 
leverage
 
ratio
 
based
 
on
capital
 
and
 
exposure
 
on
 
the
 
last
 
day
 
of
 
the
 
quarter.
 
Both
 
approaches
 
exclude
 
qualifying
 
claims
 
on
 
central
 
banks
 
from
 
t
 
he
 
leverage
exposures
 
and
 
include
 
the
 
PRA’s
 
early
 
adoption
 
of
 
CRR
 
II
 
settlement
 
netting.
 
The
 
FPC
 
intends
 
to
 
review
 
the
 
UK
 
leverage
 
framework
in
 
2021.
Leverage
 
ratios
1,2
As
 
at
31.03.21
As
 
at
31.12.20
£m
£m
Average
 
UK
 
leverage
 
ratio
4.9%
5.0%
Average
 
T1
 
capital
3
57,040
57,069
Average
 
UK
 
leverage
 
exposure
1,174,887
1,146,919
UK
 
leverage
 
ratio
5.0%
5.3%
CET1
 
capital
45,904
46,296
AT1
 
capital
11,099
11,092
T1
 
capital
3
57,003
57,388
UK
 
leverage
 
exposure
1,145,413
1,090,907
UK
 
leverage
 
exposure
Accounting
 
assets
Derivative
 
financial
 
instruments
270,717
302,446
Derivative
 
cash
 
collateral
51,797
64,798
Securities
 
financing
 
transactions
 
(SFTs)
189,496
164,034
Loans
 
and
 
advances
 
and
 
other
 
assets
867,646
818,236
Total
 
IFRS
 
assets
1,379,656
1,349,514
Regulatory
 
consolidation
 
adjustments
(1,926)
(1,144)
Derivatives
 
adjustments
Derivatives
 
netting
 
(242,857)
(272,275)
Adjustments
 
to
 
cash
 
collateral
(45,464)
(57,414)
Net
 
written
 
credit
 
protection
16,814
14,986
Potential
 
future
 
exposure
 
(PFE)
 
on
 
derivatives
128,454
117,010
Total
 
derivatives
 
adjustments
(143,053)
(197,693)
SFTs
 
adjustments
22,294
21,114
Regulatory
 
deductions
 
and
 
other
 
adjustments
(18,111)
(17,469)
Weighted
 
off-balance
 
sheet
 
commitments
118,134
113,704
Qualifying
 
central
 
bank
 
claims
(167,054)
(155,890)
Settlement
 
netting
(44,527)
(21,229)
UK
 
leverage
 
exposure
1,145,413
1,090,907
1
Fully
 
loaded
 
average
 
UK
 
leverage
 
ratio
 
was
 
4.7%,
 
with
 
£54.8bn
 
of
 
T1
 
capital
 
and
 
£1,173bn
 
of
 
leverage
 
exposure.
 
Fully
 
loaded
 
UK
 
leverage
 
ratio
 
was
 
4.8%,
 
with
£54.7bn
 
of
 
T1
 
capital
 
and
 
£1,143bn
 
of
 
leverage
 
exposure.
Fully
 
loaded
 
UK
 
leverage
 
ratios
 
are
 
calculated
 
without
 
applying
 
the
 
transitional
 
arrangements
 
of
 
the
 
CRR
as
 
amended
 
by
 
CRR
 
II.
 
2
Capital
 
and
 
leverage
 
measures
 
are
 
calculated
 
applying
 
the
 
transitional
 
arrangements
 
of
 
the
 
CRR
 
as
 
amended
 
by
 
CRR
 
II.
3
T1
 
capital
 
is
 
calculated
 
in
 
line
 
with
 
the
 
PRA
 
Handbook.
 
 
q121ex991p1i0.jpg
Treasury
 
and
 
Capital
 
Risk
Barclays
 
PLC
28
The
 
average
 
UK
 
leverage
 
ratio
 
decreased
 
to
 
4.9%
 
(December
 
2020:
 
5.0%).
 
The
 
average
 
leverage
 
exposure
 
increased
 
by
 
£28bn
 
to
£1,175bn
 
(December
 
2020:
 
£1,147bn)
 
largely
 
driven
 
by
 
an
 
increase
 
in
 
securities
 
financing
 
transactions
 
(SFTs).
The
 
UK
 
leverage
 
ratio
 
decreased
 
to
 
5.0%
 
(December
 
2020:
 
5.3%)
 
.
 
The
 
UK
 
leverage
 
exposure
 
increase
 
d
 
by
 
£54.5bn
 
to
 
£1,145bn
(December
 
2020:
 
£1,091bn)
 
primarily
 
driven
 
by:
 
●
A
 
£25.5bn
 
increase
 
in
 
SFTs;
 
and
 
●
A
 
£11.4bn
 
increase
 
in
 
PFE
 
on
 
derivatives
 
driven
 
by
 
increased
 
trading
 
activity
The
 
Group
 
also
 
discloses
 
a
 
CRR
 
leverage
 
ratio
1
 
within
 
its
 
additional
 
regulatory
 
disclosures
 
prepared
 
in
 
accordance
 
with
 
EBA
guidelines
 
on
 
disclosure
 
under
 
Part
 
Eight
 
of
 
the
 
CRR
 
(see
 
Barclays
 
PLC
 
Pillar
 
3
 
Report
 
Q1
 
2021,
 
due
 
to
 
be
 
published
 
on
 
30
 
April
 
2021
and
 
which
 
will
 
be
 
available
 
at
 
home.barclays/
 
investor
 
-relations/reports
 
-and-events/latest
 
-financial
 
-results).
1
CRR
 
leverage
 
ratio
 
as
 
amended
 
by
 
CRR
 
II.
 
 
q121ex991p1i0.jpg
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Treasury
 
and
 
Capital
 
Risk
Barclays
 
PLC
29
MREL
The
 
Group
 
is
 
required
 
to
 
meet
 
the
 
higher
 
of:
 
(i)
 
the
 
requirements
 
set
 
by
 
the
 
BoE
 
based
 
on
 
RWAs
 
and
 
the
 
higher
 
of
 
average
 
and
 
UK
leverage
 
exposures;
 
and
 
(ii)
 
the
 
requirements
 
in
 
CRR
 
as
 
amended
 
by
 
CRR
 
II
 
based
 
on
 
RWAs
 
and
 
CRR
 
leverage
 
exposures.
 
The
 
MREL
requirements
 
are
 
subject
 
to
 
phased
 
implementation
 
and
 
will
 
be
 
fully
 
implemented
 
by
 
1
 
January
 
2022.
 
As
 
at
 
31
 
March
 
2021,
 
the
 
Group
 
’s
 
MREL
 
requirement
 
was
 
to
 
meet
 
7.0%
 
of
 
CRR
 
leverage
 
exposures.
 
On
 
19
 
January
 
2021
 
the
 
BoE
published
 
indicative
 
MREL
 
requirements
 
that
 
show
 
the
 
Group’s
 
highest
 
requirement
 
in
 
2022
 
will
 
be
 
7.7%
 
of
 
CRR
 
leverage
 
exposure,
based
 
on
 
30
 
September
 
2020
 
exposures.
 
The
 
BoE
 
is
 
currently
 
reviewing
 
the
 
MREL
 
calibration
 
and
 
intends
 
to
 
make
 
any
 
policy
changes
 
by
 
the
 
end
 
of
 
2021.
 
Separately,
 
the
 
FPC
 
intends
 
to
 
review
 
the
 
UK
 
leverage
 
framework
 
in
 
2021
 
and
 
this,
 
along
 
with
 
any
MREL
 
policy
 
changes,
 
may
 
result
 
in
 
a
 
different
 
MREL
 
requirement
 
from
 
1
 
January
 
2022
 
than
 
that
 
which
 
is
 
currently
 
proposed
 
.
 
CET1
capital
 
cannot
 
be
 
counted
 
towards
 
both
 
MREL
 
and
 
the
 
capital
 
buffers,
 
meaning
 
that
 
the
 
buffers
 
will
 
effectively
 
be
 
applied
 
above
MREL
 
requirements.
 
Own
 
funds
 
and
 
eligible
 
liabilities
 
ratios
1,2
As
 
a
 
percentage
 
of
 
RWAs
As
 
a
 
percentage
 
of
 
CRR
 
leverage
exposure
As
 
at
31.03.21
As
 
at
31.12.20
As
 
at
31.03.21
As
 
at
31.12.20
Total
 
Barclays
 
PLC
 
(the
 
Parent
 
company)
 
own
 
funds
 
and
 
eligible
liabilities
32.1%
32.7%
7.6%
8.0%
Total
 
own
 
funds
 
and
 
eligible
 
liabilities,
 
including
 
eligible
 
Barclays
Bank
 
PLC
 
instruments
3
32.8%
33.6%
7.8%
8.2%
Own
 
funds
 
and
 
eligible
 
liabilities
1,2
As
 
at
31.03.21
As
 
at
31.12.20
£m
£m
CET1
 
capital
45,904
46,296
AT1
 
capital
 
instruments
 
and
 
related
 
share
 
premium
 
accounts
4
11,099
11,092
T2
 
capital
 
instruments
 
and
 
related
 
share
 
premium
 
accounts
4
8,886
7,733
Eligible
 
liabilities
34,571
35,086
Total
 
Barclays
 
PLC
 
(the
 
Parent
 
company)
 
own
 
funds
 
and
 
eligible
 
liabilities
100,460
100,207
Qualifying
 
AT1
 
capital
 
(including
 
minority
 
interests)
 
issued
 
by
 
subsidiaries
655
646
Qualifying
 
T2
 
capital
 
(including
 
minority
 
interests)
 
issued
 
by
 
subsidiaries
1,641
1,893
Total
 
own
 
funds
 
and
 
eligible
 
liabilities,
 
including
 
eligible
 
Barclays
 
Bank
 
PLC
 
instruments
3
102,756
102,746
Total
 
RWAs
313,356
306,203
Total
 
CRR
 
leverage
 
exposure
5
1,320,628
1,254,157
1
 
CET1,
 
T1
 
and
 
T2
 
capital,
 
and
 
RWAs
 
are
 
calculated
 
applying
 
the
 
transitional
 
arrangements
 
of
 
the
 
CRR
 
as
 
amended
 
by
 
CRR
 
II.
 
This
 
includes
 
IFRS
 
9
 
transitional
arrangements
 
and
 
the
 
grandfathering
 
of
 
CRR
 
and
 
CRR
 
II
 
non-compliant
 
capital
 
instruments.
2
 
The
 
BoE
 
has
 
set
 
external
 
MREL
 
based
 
on
 
the
 
higher
 
of
 
RWAs
 
and
 
CRR
 
or
 
UK
 
leverage
 
exposures
 
which
 
could
 
result
 
in
 
the
 
binding
 
measure
 
changing
 
in
 
future
 
periods.
The
 
31
 
March
 
2021
 
Barclays
 
PLC
 
(the
 
Parent
 
company)
 
own
 
funds
 
and
 
eligible
 
liabilities
 
ratio
 
as
 
a
 
percentage
 
of
 
the
 
UK
 
leverage
 
exposure
 
was
 
8.8%
 
and
 
as
 
a
percentage
 
of
 
the
 
average
 
UK
 
leverage
 
exposure
 
was
 
8.6%.
3
 
Own
 
funds
 
instrum
 
ents
 
issued
 
by
 
subsidiaries
 
will
 
not
 
be
 
counted
 
towards
 
MREL
 
from
 
1
 
January
 
2022.
4
 
Includes
 
other
 
AT1
 
capital
 
regulatory
 
adju
 
stments
 
and
 
deductions
 
of
 
£80m
 
(December
 
2020:
 
£80m),
 
and
 
other
 
T2
 
credit
 
risk
 
ad
 
justments
 
and
 
deductions
 
of
 
£65m
(December
 
2020:
 
£103m).
5
 
Fully
 
loaded
 
CRR
 
leverage
 
exposure
 
is
 
calculated
 
without
 
applying
 
the
 
transitional
 
arrangements
 
of
 
the
 
CRR
 
as
 
amended
 
by
 
CRR
 
II.
 
 
q121ex991p1i0.jpg
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Condensed
 
Consolidated
 
Financial
 
Statements
Barclays
 
PLC
30
Condensed
 
consolidated
 
income
 
statement
Three
 
months
ended
Three
 
months
ended
31.03.21
31.03.20
£m
£m
Total
 
income
5,900
6,283
Credit
 
impairment
 
charges
(55)
(2,115)
Net
 
operating
 
income
5,845
4,168
Operating
 
expenses
 
excluding
 
litigation
 
and
 
conduct
(3,545)
(3,253)
Litigation
 
and
 
conduct
(33)
(10)
Operating
 
expenses
(3,578)
(3,263)
Other
 
net
 
income
132
8
Profit
 
before
 
tax
2,399
913
Tax
 
charge
(496)
(71)
Profit
 
after
 
tax
1,903
842
Attributable
 
to:
Equity
 
holders
 
of
 
the
 
parent
1,704
605
Other
 
equity
 
instrument
 
holders
195
221
Total
 
equity
 
holders
 
of
 
the
 
parent
1,899
826
Non-controlling
 
interests
4
16
Profit
 
after
 
tax
1,903
842
Earnings
 
per
 
share
p
p
Basic
 
earnings
 
per
 
ordinary
 
share
9.9
3.5
 
 
q121ex991p1i0.jpg
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Condensed
 
Consolidated
 
Financial
 
Statements
Barclays
 
PLC
31
Condensed
 
consolidated
 
balance
 
sheet
As
 
at
As
 
at
31.03.21
31.12.20
Assets
£m
£m
Cash
 
and
 
balances
 
at
 
central
 
banks
209,521
191,127
Cash
 
collateral
 
and
 
settlement
 
balances
112,662
101,367
Loans
 
and
 
advances
 
at
 
amortised
 
cost
345,778
342,632
Reverse
 
repurchase
 
agreements
 
and
 
other
 
similar
 
secured
 
lending
10,276
9,031
Trading
 
portfolio
 
assets
131,226
127,950
Financial
 
assets
 
at
 
fair
 
value
 
through
 
the
 
income
 
statement
201,610
175,151
Derivative
 
financial
 
instruments
270,717
302,446
Financial
 
assets
 
at
 
fair
 
value
 
through
 
other
 
comprehensive
 
income
74,680
78,688
Investments
 
in
 
associates
 
and
 
joint
 
ventures
917
781
Goodwill
 
and
 
intangible
 
assets
7,867
7,948
Current
 
tax
 
assets
170
477
Deferred
 
tax
 
assets
4,053
3,444
Other
 
assets
10,179
8,472
Total
 
assets
1,379,656
1,349,514
Liabilities
Deposits
 
at
 
amortised
 
cost
498,752
481,036
Cash
 
collateral
 
and
 
settlement
 
balances
107,130
85,423
Repurchase
 
agreements
 
and
 
other
 
similar
 
secured
 
borrowing
20,949
14,174
Debt
 
securities
 
in
 
issue
87,291
75,796
Subordinated
 
liabilities
15,944
16,341
Trading
 
portfolio
 
liabilities
60,735
47,405
Financial
 
liabilities
 
designated
 
at
 
fair
 
value
249,852
249,765
Derivative
 
financial
 
instruments
260,407
300,775
Current
 
tax
 
liabilities
 
768
645
Deferred
 
tax
 
liabilities
15
15
Other
 
liabilities
11,644
11,257
Total
 
liabilities
1,313,487
1,282,632
Equity
Called
 
up
 
share
 
capital
 
and
 
share
 
premium
4,619
4,637
Other
 
reserves
2,648
4,461
Retained
 
earnings
 
46,659
45,527
Shareholders'
 
equity
 
attributable
 
to
 
ordinary
 
shareholders
 
of
 
the
 
parent
53,926
54,625
Other
 
equity
 
instruments
11,179
11,172
Total
 
equity
 
excluding
 
non-controlling
 
interests
65,105
65,797
Non-controlling
 
interests
1,064
1,085
Total
 
equity
66,169
66,882
Total
 
liabilities
 
and
 
equity
1,379,656
1,349,514
 
 
q121ex991p1i0.jpg
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Condensed
 
Consolidated
 
Financial
 
Statements
Barclays
 
PLC
32
Condensed
 
consolidated
 
statement
 
of
 
changes
 
in
 
equity
Called
 
up
share
 
capital
and
 
share
premium
Other
 
equity
instruments
Other
reserves
Retained
earnings
Total
Non-
controlling
interests
Total
equity
Three
 
months
 
ended
 
31.03.21
£m
£m
£m
£m
£m
£m
£m
Balance
 
as
 
at
 
1
 
January
 
2021
4,637
11,172
4,461
45,527
65,797
1,085
66,882
Profit
 
after
 
tax
-
195
-
1,704
1,899
4
1,903
Retirement
 
benefit
 
remeasurements
-
-
-
(186)
(186)
-
(186)
Other
-
-
(1,842)
-
(1,842)
-
(1,842)
Total
 
comprehensive
 
income
 
for
 
the
 
period
-
195
(1,842)
1,518
(129)
4
(125)
Equity
 
settled
 
share
 
schemes
 
and
 
hedges
thereof
9
-
-
266
275
-
275
Other
 
equity
 
instruments
 
coupons
 
paid
-
(195)
-
-
(195)
-
(195)
Vesting
 
of
 
shares
 
under
 
employee
 
share
schemes
-
-
2
(386)
(384)
-
(384)
Repurchase
 
of
 
shares
(27)
-
27
(261)
(261)
-
(261)
Dividends
 
paid
-
-
-
-
-
(1)
(1)
Other
 
movements
-
7
-
(5)
2
(24)
(22)
Balance
 
as
 
at
 
31
 
March
 
2021
4,619
11,179
2,648
46,659
65,105
1,064
66,169
As
 
at
As
 
at
31.03.21
31.12.20
Other
 
reserves
£m
£m
Currency
 
translation
 
reserve
2,393
2,871
Fair
 
value
 
through
 
other
 
comprehensive
 
income
 
reserve
(315)
5
Cash
 
flow
 
hedging
 
reserve
849
1,575
Own
 
credit
 
reserve
(1,272)
(954)
Other
 
reserves
 
and
 
treasury
 
shares
993
964
Total
2,648
4,461
Basis
 
of
 
preparation
The
 
condensed
 
consolidated
 
financial
 
statements
 
are
 
prepared
 
in
 
accordance
 
with
 
the
 
recognition
 
and
 
measurement
 
requirements
of
 
UK-adopted
 
international
 
accounting
 
standards
 
(UK-adopted
 
International
 
Financial
 
Reporting
 
Standards
 
).
 
Following
 
the
 
UK’s
departure
 
from
 
the
 
European
 
Union
 
(EU)
 
at
 
the
 
end
 
of
 
the
 
Brexit
 
transition
 
period
 
on
 
31
 
December
 
2020,
 
all
 
EU
 
endorsed
 
IFRS
became
 
UK-adopted
 
IFRS.
 
On
 
6
 
January
 
2021,
 
the
 
UK
 
endorsed
 
the
 
phase
 
2
 
amendments
 
to
 
IFRS
 
9
 
and
 
IAS
 
39
 
in
 
respect
 
of
 
interest
rate
 
benchmark
 
reform,
 
which
 
was
 
also
 
endorsed
 
by
 
the
 
EU
 
on
 
13
 
January
 
2021
 
and
 
were
 
early
 
adopted
 
in
 
the
 
Barclays
 
PLC
 
2020
Annual
 
Report.
 
UK
 
adopted
 
IFRS
 
and
 
EU
 
endorsed
 
IFRS
 
are
 
currently
 
the
 
same.
 
 
q121ex991p1i0.jpg
 
Appendix:
 
Non-IFRS
 
Performance
 
Measures
Barclays
 
PLC
33
The
 
Group’s
 
management
 
believes
 
that
 
the
 
non-IFRS
 
performance
 
measures
 
included
 
in
 
this
 
document
 
provide
 
valuable
information
 
to
 
the
 
readers
 
of
 
the
 
financial
 
statements
 
as
 
they
 
enable
 
the
 
reader
 
to
 
identify
 
a
 
more
 
consistent
 
basis
 
for
 
comparing
the
 
businesses’
 
performance
 
between
 
financial
 
periods,
 
and
 
provide
 
more
 
detail
 
concerning
 
the
 
elements
 
of
 
performance
 
which
the
 
managers
 
of
 
these
 
businesses
 
are
 
most
 
directly
 
able
 
to
 
influence
 
or
 
are
 
relevant
 
for
 
an
 
assessment
 
of
 
the
 
Group.
 
They
 
also
reflect
 
an
 
important
 
aspect
 
of
 
the
 
way
 
in
 
which
 
operating
 
targets
 
are
 
defined
 
and
 
performance
 
is
 
monitored
 
by
 
management.
 
However,
 
any
 
non-IFRS
 
performance
 
measures
 
in
 
this
 
document
 
are
 
not
 
a
 
substitute
 
for
 
IFRS
 
measures
 
and
 
readers
 
should
consider
 
the
 
IFRS
 
measures
 
as
 
well.
Non-IFRS
 
performance
 
measures
 
glossary
Measure
Definition
Loan:
 
deposit
 
ratio
Loans
 
and
 
advances
 
at
 
amortised
 
cost
 
divided
 
by
 
deposits
 
at
 
amortised
 
cost.
Period
 
end
 
allocated
tangible
 
equity
Allocated
 
tangible
 
equity
 
is
 
calculated
 
as
 
13.5%
 
(2020:
 
13.0%)
 
of
 
RWAs
 
for
 
each
 
business,
 
adjusted
for
 
capital
 
deductions,
 
excluding
 
goodwill
 
and
 
intangible
 
assets,
 
reflecting
 
the
 
assumptions
 
the
 
Group
uses
 
for
 
capital
 
planning
 
purposes.
 
Head
 
Office
 
alloca
 
ted
 
tangible
 
equity
 
represents
 
the
 
difference
between
 
the
 
Group’s
 
tangible
 
shareholders’
 
equity
 
and
 
the
 
amounts
 
allocated
 
to
 
businesses.
Average
 
tangible
shareholders’
 
equity
Calculated
 
as
 
the
 
average
 
of
 
the
 
previous
 
month’s
 
period
 
end
 
tangible
 
equity
 
and
 
the
 
current
month’s
 
period
 
end
 
tangible
 
equity.
 
The
 
average
 
tangible
 
shareholders’
 
equity
 
for
 
the
 
period
 
is
 
the
average
 
of
 
the
 
monthly
 
averages
 
within
 
that
 
period.
Average
 
allocated
tangible
 
equity
Calculated
 
as
 
the
 
average
 
of
 
the
 
previous
 
month’s
 
period
 
end
 
allocated
 
tangible
 
equity
 
and
 
the
current
 
month’s
 
period
 
end
 
allocated
 
tangible
 
equity.
 
The
 
average
 
allocated
 
tangible
 
equity
 
for
 
the
period
 
is
 
the
 
average
 
of
 
the
 
monthly
 
averages
 
within
 
that
 
period.
Return
 
on
 
average
tangible
 
shareholders’
equity
Annualised
 
profit
 
after
 
tax
 
attributable
 
to
 
ordinary
 
equity
 
holders
 
of
 
the
 
parent,
 
as
 
a
 
proportion
 
of
average
 
shareholders’
 
equity
 
excluding
 
non-controlling
 
interests
 
and
 
other
 
equity
 
instruments
adjusted
 
for
 
the
 
deduction
 
of
 
intangible
 
assets
 
and
 
goodwill.
 
The
 
components
 
of
 
the
 
calculation
 
have
been
 
included
 
on
 
pages
 
34
 
to
 
35.
Return
 
on
 
average
allocated
 
tangible
 
equity
Annualised
 
profit
 
after
 
tax
 
attributable
 
to
 
ordinary
 
equity
 
holders
 
of
 
the
 
parent,
 
as
 
a
 
proportion
 
of
average
 
allocated
 
tangible
 
equity.
 
The
 
components
 
of
 
the
 
calculation
 
have
 
been
 
included
 
on
 
pages
 
34
to
 
36.
Cost:
 
income
 
ratio
Total
 
operating
 
expenses
 
divided
 
by
 
total
 
income.
Loan
 
loss
 
rate
Quoted
 
in
 
basis
 
points
 
and
 
represents
 
total
 
annualised
 
impairment
 
charges
 
divided
 
by
 
gross
 
loans
and
 
advances
 
held
 
at
 
amortised
 
cost
 
at
 
the
 
balance
 
sheet
 
date.
 
The
 
components
 
of
 
the
 
calculation
have
 
been
 
included
 
on
 
page
 
18.
Net
 
interest
 
margin
Annualised
 
net
 
interest
 
income
 
divided
 
by
 
the
 
sum
 
of
 
average
 
customer
 
assets.
 
The
 
components
 
of
the
 
calculation
 
have
 
been
 
included
 
on
 
page
 
17.
Tangible
 
net
 
asset
 
value
per
 
share
Calculated
 
by
 
dividing
 
shareholders’
 
equity,
 
excluding
 
non-controlling
 
interests
 
and
 
other
 
equity
instruments,
 
less
 
goodwill
 
and
 
intangible
 
assets,
 
by
 
the
 
number
 
of
 
issued
 
ordinary
 
shares.
 
The
components
 
of
 
the
 
calculation
 
have
 
been
 
included
 
on
 
page
 
36.
Pre
 
-provision
 
profits
Calculated
 
by
 
excluding
 
credit
 
impairment
 
charges
 
from
 
profit
 
before
 
tax.
 
The
 
components
 
of
 
the
calculation
 
have
 
been
 
included
 
on
 
page
 
35.
 
 
q121ex991p1i0.jpg
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Appendix:
 
Non-IFRS
 
Performance
 
Measures
Barclays
 
PLC
34
Returns
Return
 
on
 
average
 
tangible
 
equity
 
is
 
calculated
 
as
 
profit
 
after
 
tax
 
attributable
 
to
 
ordinary
 
equity
 
holders
 
of
 
the
 
parent
 
as
 
a
proportion
 
of
 
average
 
tangible
 
equity,
 
excluding
 
non-controlling
 
and
 
other
 
equity
 
interests
 
for
 
businesses.
 
Allocated
 
tangible
 
equity
has
 
been
 
calculated
 
as
 
13.5%
 
(2020:
 
13.0%)
 
of
 
RWAs
 
for
 
each
 
business,
 
adjusted
 
for
 
capital
 
deductions,
 
excluding
 
goodwill
 
and
intangible
 
assets,
 
reflecting
 
the
 
assumptions
 
the
 
Group
 
uses
 
for
 
capital
 
planning
 
purposes.
 
Head
 
Office
 
average
 
allocated
 
tangible
equity
 
represents
 
the
 
differ
 
ence
 
between
 
the
 
Group’s
 
average
 
tangible
 
shareholders’
 
equity
 
and
 
the
 
amounts
 
allocated
 
to
businesses.
 
Profit/(loss)
attributable
 
to
ordinary
 
equity
holders
 
of
 
the
parent
Average
tangible
 
equity
Return
 
on
average
tangible
 
equity
Three
 
months
 
ended
 
31.03.21
£m
£bn
%
Barclays
 
UK
298
9.9
12.0
 
Corporate
 
and
 
Investment
 
Bank
1,263
28.2
17.9
 
Consumer,
 
Cards
 
and
 
Payments
168
4.1
16.5
Barclays
 
International
1,431
32.3
17.7
Head
 
Office
(25)
4.3
n/m
Barclays
 
Group
1,704
46.5
14.7
Three
 
months
 
ended
 
31.03.20
Barclays
 
UK
175
10.1
6.9
 
Corporate
 
and
 
Investment
 
Bank
820
26.2
12.5
 
Consumer,
 
Cards
 
and
 
Payments
(291)
5.0
(23.5)
Barclays
 
International
529
31.2
6.8
Head
 
Office
(99)
5.6
n/m
Barclays
 
Group
605
47.0
5.1
 
 
q121ex991p1i0.jpg
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Appendix:
 
Non-IFRS
 
Performance
 
Measures
Barclays
 
PLC
35
Barclays
 
Group
Q121
Q420
Q320
Q220
Q120
Q419
Q319
Q219
Return
 
on
 
average
 
tangible
 
shareholders'
equity
£m
£m
£m
£m
£m
£m
£m
£m
Attributable
 
profit/(loss)
1,704
220
611
90
605
681
(292)
1,034
£bn
£bn
£bn
£bn
£bn
£bn
£bn
£bn
Average
 
shareholders'
 
equity
54.4
55.7
56.4
58.4
55.2
54.5
56.4
54.0
Average
 
goodwill
 
and
 
intangibles
(7.9)
(8.1)
(8.1)
(8.2)
(8.2)
(8.1)
(8.0)
(7.8)
Average
 
tangible
 
shareholders'
 
equity
 
46.5
47.6
48.3
50.2
47.0
46.4
48.4
46.2
Return
 
on
 
average
 
tangible
 
shareholders'
equity
14.7%
1.8%
5.1%
0.7%
5.1%
5.9%
(2.4%)
9.0%
Pre
 
-provision
 
profits
 
Profit
 
before
 
tax
 
excluding
 
credit
 
impairment
charges
Q121
Q420
Q320
Q220
Q120
Q419
Q319
Q219
£m
£m
£m
£m
£m
£m
£m
£m
Profit
 
before
 
tax
2,399
646
1,147
359
913
1,097
246
1,531
Impact
 
of
 
credit
 
impairment
 
charges
55
492
608
1,623
2,115
523
461
480
Profit
 
before
 
tax
 
excluding
 
credit
 
impairment
charges
2,454
1,138
1,755
1,982
3,028
1,620
707
2,011
Barclays
 
UK
Q121
Q420
Q320
Q220
Q120
Q419
Q319
Q219
Return
 
on
 
average
 
allocated
 
tangible
 
equity
£m
£m
£m
£m
£m
£m
£m
£m
Attributable
 
profit/(loss)
298
160
113
(123)
175
438
(907)
328
£bn
£bn
£bn
£bn
£bn
£bn
£bn
£bn
Average
 
allocated
 
equity
 
13.5
13.4
13.7
13.9
13.7
13.8
13.9
13.8
Average
 
goodwill
 
and
 
intangibles
(3.6)
(3.6)
(3.6)
(3.6)
(3.6)
(3.5)
(3.5)
(3.5)
Average
 
allocated
 
tangible
 
equity
 
9.9
9.8
10.1
10.3
10.1
10.3
10.4
10.3
Return
 
on
 
average
 
allocated
 
tangible
 
equity
12.0%
6.5%
4.5%
(4.8%)
6.9%
17.0%
(34.9%)
12.7%
 
 
q121ex991p1i0.jpg
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Appendix:
 
Non-IFRS
 
Performance
 
Measures
Barclays
 
PLC
36
Barclays
 
International
Q121
Q420
Q320
Q220
Q120
Q419
Q319
Q219
Return
 
on
 
average
 
allocated
 
tangible
 
equity
£m
£m
£m
£m
£m
£m
£m
£m
Attributable
 
profit
1,431
441
782
468
529
397
799
832
£bn
£bn
£bn
£bn
£bn
£bn
£bn
£bn
Average
 
allocated
 
equity
 
32.8
31.1
31.2
34.2
31.9
31.9
33.3
32.1
Average
 
goodwill
 
and
 
intangibles
(0.5)
(0.6)
(0.6)
(0.7)
(0.7)
(1.0)
(1.1)
(1.0)
Average
 
allocated
 
tangible
 
equity
 
32.3
30.5
30.6
33.5
31.2
30.9
32.2
31.1
Return
 
on
 
average
 
allocated
 
tangible
 
equity
 
17.7%
5.8%
10.2%
5.6%
6.8%
5.1%
9.9%
10.7%
Corporate
 
and
 
Investment
 
Bank
Q121
Q420
Q320
Q220
Q120
Q419
Q319
Q219
Return
 
on
 
average
 
allocated
 
tangible
 
equity
£m
£m
£m
£m
£m
£m
£m
£m
Attributable
 
profit
1,263
413
627
694
820
193
609
596
£bn
£bn
£bn
£bn
£bn
£bn
£bn
£bn
Average
 
allocated
 
equity
28.2
26.3
26.4
29.1
26.2
25.9
26.9
25.8
Average
 
goodwill
 
and
 
intangibles
-
-
-
(0.1)
-
(0.1)
-
-
Average
 
allocated
 
tangible
 
equity
28.2
26.3
26.4
29.0
26.2
25.8
26.9
25.8
Return
 
on
 
average
 
allocated
 
tangible
 
equity
17.9%
6.3%
9.5%
9.6%
12.5%
3.0%
9.1%
9.2%
Consumer,
 
Cards
 
and
 
Payments
Q121
Q420
Q320
Q220
Q120
Q419
Q319
Q219
Return
 
on
 
average
 
allocated
 
tangible
 
equity
£m
£m
£m
£m
£m
£m
£m
£m
Attributable
 
profit/(loss)
168
28
155
(226)
(291)
204
190
236
£bn
£bn
£bn
£bn
£bn
£bn
£bn
£bn
Average
 
allocated
 
equity
4.6
4.8
4.8
5.1
5.7
6.0
6.4
6.3
Average
 
goodwill
 
and
 
intangibles
(0.5)
(0.6)
(0.6)
(0.6)
(0.7)
(0.9)
(1.1)
(1.0)
Average
 
allocated
 
tangible
 
equity
4.1
4.2
4.2
4.5
5.0
5.1
5.3
5.3
Return
 
on
 
average
 
allocated
 
tangible
 
equity
16.5%
2.7%
14.7%
(20.2%)
(23.5%)
15.9%
14.2%
17.8%
Tangible
 
net
 
asset
 
value
 
per
 
share
As
 
at
As
 
at
As
 
at
31.03.21
31.12.20
31.03.20
£m
£m
£m
Total
 
equity
 
excluding
 
non-controlling
 
interests
65,105
65,797
68,369
Other
 
equity
 
instruments
(11,179)
(11,172)
(10,871)
Shareholders'
 
equity
 
attributable
 
to
 
ordinary
 
shareholders
 
of
 
the
 
parent
53,926
54,625
57,498
Goodwill
 
and
 
intangibles
(7,867)
(7,948)
(8,209)
Tangible
 
shareholders'
 
equity
 
attributable
 
to
 
ordinary
 
shareholders
 
of
 
the
 
parent
46,059
46,677
49,289
m
m
m
Shares
 
in
 
issue
17,257
17,359
17,322
p
p
p
Net
 
asset
 
value
 
per
 
share
 
312
 
315
 
332
Tangible
 
net
 
asset
 
value
 
per
 
share
 
267
 
269
 
284
 
 
q121ex991p1i0.jpg
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Appendix:
 
Non-IFRS
 
Performance
 
Measures
Barclays
 
PLC
37
Profit/(loss)
 
attributable
 
to
 
ordinary
 
equity
 
holders
 
of
 
the
parent
Q121
Q420
Q320
Q220
Q120
Q419
Q319
Q219
£m
£m
£m
£m
£m
£m
£m
£m
Barclays
 
UK
298
160
113
(123)
175
438
(907)
328
Corporate
 
and
 
Investment
 
Bank
1,263
413
627
694
820
193
609
596
Consumer,
 
Cards
 
and
 
Payments
168
28
155
(226)
(291)
204
190
236
Barclays
 
International
1,431
441
782
468
529
397
799
832
Head
 
Office
(25)
(381)
(284)
(255)
(99)
(154)
(184)
(126)
Barclays
 
Group
1,704
220
611
90
605
681
(292)
1,034
Average
 
equity
Q121
Q420
Q320
Q220
Q120
Q419
Q319
Q219
£bn
£bn
£bn
£bn
£bn
£bn
£bn
£bn
Barclays
 
UK
13.5
13.4
13.7
13.9
13.7
13.8
13.9
13.8
Corporate
 
and
 
Investment
 
Bank
28.2
26.3
26.4
29.1
26.2
25.9
26.9
25.8
Consumer,
 
Cards
 
and
 
Payments
4.6
4.8
4.8
5.1
5.7
6.0
6.4
6.3
Barclays
 
International
32.8
31.1
31.2
34.2
31.9
31.9
33.3
32.1
Head
 
Office
8.1
11.2
11.5
10.3
9.6
8.8
9.2
8.1
Barclays
 
Group
54.4
55.7
56.4
58.4
55.2
54.5
56.4
54.0
Return
 
on
 
average
 
equity
Q121
Q420
Q320
Q220
Q120
Q419
Q319
Q219
%
%
%
%
%
%
%
%
Barclays
 
UK
8.9%
4.8%
3.3%
(3.6%)
5.1%
12.7%
(26.1%)
9.5%
Corporate
 
and
 
Investment
 
Bank
17.9%
6.3%
9.5%
9.5%
12.5%
3.0%
9.1%
9.2%
Consumer,
 
Cards
 
and
 
Payments
14.5%
2.4%
12.9%
(17.7%)
(20.7%)
13.6%
11.8%
14.9%
Barclays
 
International
17.4%
5.7%
10.0%
5.5%
6.6%
5.0%
9.6%
10.3%
Head
 
Office
n/m
n/m
n/m
n/m
n/m
n/m
n/m
n/m
Barclays
 
Group
12.5%
1.6%
4.3%
0.6%
4.4%
5.0%
(2.1%)
7.6%
 
 
q121ex991p1i0.jpg
 
 
 
 
 
 
 
 
 
 
 
 
 
Shareholder
 
Information
 
Barclays
 
PLC
38
Results
 
timetable
1
Date
2021
 
Interim
 
Results
 
Announcement
28
 
July
 
2021
%
 
Change
3
Exchange
 
rates
2
31.03.21
31.12.20
31.03.20
31.12.20
31.03.20
Period
 
end
 
-
 
USD/GBP
1.38
1.37
1.24
1%
11%
3
 
month
 
average
 
-
 
USD/GBP
1.38
1.32
1.28
5%
8%
Period
 
end
 
-
 
EUR/GBP
1.18
1.12
1.13
5%
4%
3
 
month
 
average
 
-
 
EUR/GBP
1.14
1.11
1.16
3%
(2%)
Share
 
price
 
data
Barclays
 
PLC
 
(p)
185.92
146.68
94.11
Barclays
 
PLC
 
number
 
of
 
shares
 
(m)
17,223
17,359
17,332
For
 
further
 
information
 
please
 
contact
Investor
 
relations
Media
 
relations
Chris
 
Manners
 
+44
 
(0)
 
20
 
7773
 
2136
Tom
 
Hoskin
 
+44
 
(0)
 
20
 
7116
 
4755
More
 
information
 
on
 
Barclays
 
can
 
be
 
found
 
on
 
our
 
website:
 
home.barclays.
Registered
 
office
1
 
Churchill
 
Place,
 
London,
 
E14
 
5HP,
 
United
 
Kingdom.
 
Tel:
 
+44
 
(0)
 
20
 
7116
 
1000.
 
Company
 
number:
 
48839.
Registrar
Equiniti,
 
Aspect
 
House,
 
Spencer
 
Road,
 
Lancing,
 
West
 
Sussex,
 
BN99
 
6DA,
 
United
 
Kingdom.
 
Tel:
 
0371
 
384
 
2055
4
 
from
 
the
 
UK
 
or
 
+44
 
121
 
415
 
7004
 
from
 
overseas.
American
 
Depositary
 
Receipts
 
(ADRs)
Shareowner
 
Services
StockTransfer@equiniti.com
Tel:
 
+1
 
800
 
990
 
1135
 
(toll
 
free
 
in
 
US
 
and
 
Canada),
 
+1
 
651
 
453
 
2128
 
(outside
 
the
 
US
 
and
 
Canada)
 
Shareowner
 
Services,
 
PO
 
Box
 
64504,
 
St
 
Paul,
 
MN
 
55164-0504,
 
USA.
Delivery
 
of
 
ADR
 
certificates
 
and
 
overnight
 
mail
Shareowner
 
Services,
 
1110
 
Centre
 
Pointe
 
Curve,
 
Suite
 
101,
 
Mendota
 
Heights,
 
MN
 
55120,
 
USA.
1
Note
 
that
 
these
 
dates
 
are
 
provisional
 
and
 
subject
 
to
 
change.
2
The
 
average
 
rates
 
shown
 
above
 
are
 
derived
 
from
 
daily
 
spot
 
rates
 
during
 
the
 
year.
3
The
 
change
 
is
 
the
 
impact
 
to
 
GBP
 
reported
 
information.
4
Lines
 
open
 
8.30am
 
to
 
5.30pm
 
(UK
 
time),
 
Monday
 
to
 
Friday,
 
excluding
 
UK
 
public
 
holidays
 
in
 
England
 
and
 
Wales.
 
 
q121ex991p1i0.jpg
Glossary
 
of
 
Terms
Barclays
 
PLC
39
‘Advanced
 
-Internal
 
Ratings
 
Based
 
(A-IRB)’
 
See
 
‘Internal
 
Ratings
 
Based
 
(IRB)’.
 
‘Acceptances
 
and
 
endorsements’
 
An
 
acceptance
 
is
 
an
 
undertaking
 
by
 
a
 
bank
 
to
 
pay
 
a
 
bill
 
of
 
exchange
 
drawn
 
on
 
a
 
customer.
Reimbursement
 
of
 
an
 
acceptance
 
by
 
the
 
customer
 
is
 
normally
 
immediate.
 
Endorsements
 
are
 
residual
 
liabilities
 
of
 
the
 
Barclays
Group
 
in
 
respect
 
of
 
bills
 
of
 
exchange
 
which
 
have
 
been
 
paid
 
and
 
subsequently
 
rediscounted.
 
‘Additional
 
Tier
 
1
 
(AT1)
 
capital’
 
AT1
 
capital
 
largely
 
comprises
 
eligible
 
non-common
 
equity
 
capital
 
securities
 
and
 
any
 
related
 
share
premium.
‘Additional
 
Tier
 
1
 
(AT1)
 
securities’
 
Non-common
 
equity
 
securities
 
that
 
are
 
eligible
 
as
 
AT1
 
capital.
‘Advanced
 
Measurement
 
Approach
 
(AMA)’
 
Under
 
the
 
AMA,
 
banks
 
are
 
allowed
 
to
 
develop
 
their
 
own
 
empirical
 
model
 
to
 
quantify
required
 
capital
 
for
 
operational
 
risk.
 
Banks
 
can
 
only
 
use
 
this
 
approach
 
subject
 
to
 
approval
 
from
 
their
 
local
 
regulators.
 
‘Agencies’
 
Bonds
 
issued
 
by
 
state
 
and
 
/
 
or
 
governmen
 
t
 
agencies
 
or
 
government
 
-
 
sponsored
 
entities.
‘Agency
 
Mortgage
 
-Backed
 
Securities’
 
Mortgage
 
-Backed
 
Securities
 
issued
 
by
 
government
 
-sponsored
 
entities.
 
‘All
 
price
 
risk
 
(APR)’
An
 
estimate
 
of
 
all
 
the
 
material
 
market
 
risks,
 
including
 
rating
 
migration
 
and
 
defaul
 
t
 
for
 
the
 
correlation
 
trading
portfolio.
‘American
 
Depository
 
Receipts
 
(ADR)’
A
 
negotiable
 
certificate
 
that
 
represents
 
the
 
ownership
 
of
 
shares
 
in
 
a
 
non-US
 
company
 
(e.g.
Barclays)
 
trading
 
in
 
US
 
financial
 
markets.
‘Americas’
 
Geographic
 
segment
 
comprising
 
the
 
US,
 
Canada
 
and
 
countries
 
where
 
Barclays
 
operates
 
within
 
Latin
 
America.
‘Annual
 
Earnings
 
at
 
Risk
 
(AEaR)’
A
 
measure
 
of
 
the
 
potential
 
change
 
in
 
Net
 
Interest
 
Income
 
(NII)
 
due
 
to
 
an
 
interest
 
rate
 
movement
over
 
a
 
one-year
 
period.
‘Annualised
 
cumulative
 
weighted
 
average
 
lifetime
 
PD’
The
 
probability
 
of
 
default
 
over
 
the
 
remaining
 
life
 
of
 
the
 
asset,
 
expressed
 
as
an
 
annual
 
rate,
 
reflecting
 
a
 
range
 
of
 
possible
 
economic
 
scenarios.
‘Application
 
scorecards’
Algorithm
 
based
 
decision
 
tools
 
used
 
to
 
aid
 
business
 
decisions
 
and
 
manage
 
credit
 
risk
 
based
 
on
 
available
customer
 
data
 
at
 
the
 
point
 
of
 
application
 
for
 
a
 
product.
‘Arrears’
 
Customers
 
are
 
said
 
to
 
be
 
in
 
arrears
 
when
 
they
 
are
 
behind
 
in
 
fulfilling
 
their
 
obligations
 
with
 
the
 
result
 
that
 
an
 
outstanding
loan
 
is
 
unpaid
 
or
 
overdue.
 
Such
 
customers
 
are
 
also
 
said
 
to
 
be
 
in
 
a
 
state
 
of
 
delinquency.
 
When
 
a
 
customer
 
is
 
in
 
arrears,
 
their
 
entire
outstanding
 
balance
 
is
 
said
 
to
 
be
 
delinquent,
 
meaning
 
that
 
delinquent
 
balances
 
are
 
the
 
total
 
outstanding
 
loans
 
on
 
which
 
payments
are
 
overdue.
 
‘Asia’
 
Geographic
 
segment
 
comprising
 
countries
 
where
 
Barclays
 
operates
 
within
 
Asia
 
and
 
the
 
Middle
 
East.
 
‘Asse
 
t
 
Backed
 
Commercial
 
Paper
 
(ABCP)’
 
Typically
 
short-term
 
notes
 
secured
 
on
 
specified
 
assets
 
issued
 
by
 
consolidated
 
special
purpose
 
entities
 
for
 
funding
 
purposes.
 
‘Asset
 
Backed
 
Securities
 
(ABS)’
 
Securities
 
that
 
represent
 
an
 
interest
 
in
 
an
 
underlying
 
pool
 
of
 
referenced
 
assets.
 
The
 
referenced
 
pool
can
 
comprise
 
any
 
assets
 
which
 
attract
 
a
 
set
 
of
 
associated
 
cash
 
flows
 
but
 
are
 
commonly
 
pools
 
of
 
residential
 
or
 
commercial
mortgages
 
and,
 
in
 
the
 
case
 
of
 
a
 
Collateralised
 
Debt
 
Obligation
 
(CDO),
 
the
 
referenced
 
pool
 
may
 
be
 
ABS
 
or
 
other
 
classes
 
of
 
assets.
‘Attributable
 
profit’
 
Profit
 
after
 
tax
 
that
 
is
 
attributable
 
to
 
ordinary
 
equity
 
holders
 
of
 
Barclays
 
adjusted
 
for
 
the
 
after
 
tax
 
amounts
 
of
capital
 
securities
 
classified
 
as
 
equity.
‘Average
 
allocated
 
tangible
 
equity’
Calculate
 
d
 
as
 
the
 
average
 
of
 
the
 
previous
 
month’s
 
period
 
end
 
allocated
 
tangible
 
equity
 
and
 
the
current
 
month’s
 
period
 
end
 
allocated
 
tangible
 
equity.
 
The
 
average
 
allocated
 
tangible
 
equity
 
for
 
the
 
period
 
is
 
the
 
average
 
of
 
the
monthly
 
averages
 
within
 
that
 
period.
 
 
 
q121ex991p1i0.jpg
Glossary
 
of
 
Terms
Barclays
 
PLC
40
‘Average
 
tangible
 
shareholders’
 
equity’
Calculated
 
as
 
the
 
average
 
of
 
the
 
previous
 
month’s
 
period
 
end
 
tangible
 
equity
 
and
 
the
current
 
month’s
 
period
 
end
 
tangible
 
equity.
 
The
 
average
 
tangible
 
shareholders’
 
equity
 
for
 
the
 
period
 
is
 
the
 
average
 
of
 
the
 
monthly
averages
 
within
 
that
 
period.
 
‘Average
 
UK
 
leverage
 
ratio’
As
 
per
 
the
 
PRA
 
rulebook,
 
calculated
 
as
 
the
 
average
 
capital
 
measure
 
based
 
on
 
the
 
last
 
day
 
of
 
each
month
 
in
 
the
 
quarter
 
divided
 
by
 
the
 
average
 
exposure
 
measure
 
for
 
the
 
quarter,
 
where
 
the
 
average
 
exposure
 
is
 
based
 
on
 
each
 
day
in
 
the
 
quarter.
‘Back
 
testing’
Includes
 
a
 
number
 
of
 
techniques
 
that
 
assess
 
the
 
continued
 
statistical
 
validity
 
of
 
a
 
model
 
by
 
simulating
 
how
 
the
 
model
would
 
have
 
predicted
 
recent
 
experience.
‘Bank
 
of
 
England
 
(BoE)’
The
 
central
 
bank
 
of
 
the
 
United
 
Kingdom
 
with
 
devolved
 
responsibility
 
for
 
managing
 
monetary
 
policy
 
and
 
to
oversee
 
regulation
 
of
 
the
 
UK’s
 
financial
 
sector.
 
Through
 
the
 
Prudential
 
Regulation
 
Committee,
 
the
 
BoE
 
exercises
 
control
 
over
 
the
PRA.
‘Barclays
 
Africa’
 
or
 
‘Absa’
 
or
 
‘Absa
 
Group
 
Limited’
Barclays
 
Africa
 
Group
 
Limited
 
(now
 
Absa
 
Group
 
Limited),
 
which
 
was
 
previously
 
a
subsidiary
 
of
 
the
 
Barclays
 
Group.
 
Following
 
a
 
sell
 
down
 
of
 
shares
 
resulting
 
in
 
a
 
loss
 
of
 
control,
 
the
 
Barclays
 
Group’s
 
shareholding
 
in
Absa
 
Group
 
Limited
 
is
 
now
 
classified
 
as
 
a
 
financial
 
asset
 
at
 
fair
 
value
 
through
 
other
 
comprehensive
 
income.
‘Balance
 
weighted
 
Loan
 
to
 
Value
 
(LTV)
 
ratio’
 
In
 
the
 
context
 
of
 
the
 
credit
 
risk
 
disclosures
 
on
 
secured
 
home
 
loans,
 
a
 
means
 
of
calculating
 
marked
 
to
 
market
 
LTVs
 
derived
 
by
 
calculating
 
individual
 
LTVs
 
at
 
account
 
level
 
and
 
weighting
 
it
 
by
 
the
 
balances
 
to
 
arrive
at
 
the
 
average
 
position.
 
Balance
 
weighted
 
Loan
 
to
 
Value
 
ratio
 
is
 
calculated
 
using
 
the
 
following
 
formula:
 
LTV
 
=
 
((loan
 
1
 
balance
 
x
Marked
 
to
 
market
 
(MTM)
 
LTV%
 
for
 
loan
 
1)
 
+
 
(loan
 
2
 
balance
 
x
 
Marked
 
to
 
market
 
(MTM)
 
LTV%
 
for
 
loan
 
2)
 
+
 
...)
 
/
 
total
 
outstandings
in
 
portfolio.
‘Barclaycard
 
Consumer
 
UK’
 
The
 
UK
 
Barclaycard
 
business.
‘Barclays’
 
or
 
’Barclays
 
Group’
 
Barclays
 
PLC,
 
together
 
with
 
its
 
subsidiaries.
 
‘Barclays
 
Bank
 
Group’
 
Barclays
 
Bank
 
PLC,
 
together
 
with
 
its
 
subsidiaries.
 
‘Barclays
 
Bank
 
UK
 
Group’
 
Barclays
 
Bank
 
UK
 
PLC,
 
together
 
with
 
its
 
subsidiaries.
 
‘Barclays
 
Operating
 
businesses’
The
 
core
 
Barclays
 
businesses
 
operated
 
by
 
Barclays
 
UK
 
(which
 
include
 
the
 
UK
 
Personal
 
Banking;
 
UK
Business
 
Banking
 
and
 
the
 
Barclaycard
 
Consumer
 
UK
 
businesses)
 
and
 
Barclays
 
International
 
(the
 
large
 
UK
 
Corporate
 
business;
 
the
International
 
Corporate
 
and
 
Private
 
Bank
 
businesses;
 
the
 
Investment
 
Bank;
 
the
 
Barclaycard
 
International
 
business;
 
and
 
Paymen
 
ts).
‘Barclays
 
Execution
 
Services’
 
or
 
‘BX’
 
or
 
‘Group
 
Service
 
Company’
Barclays
 
Execution
 
Services
 
Limited,
 
the
 
Group
 
services
 
company
set
 
up
 
to
 
provide
 
services
 
to
 
Barclays
 
UK
 
and
 
Barclays
 
International
 
to
 
deliver
 
operational
 
continuity.
 
‘Barclays
 
International’
The
 
segment
 
of
 
Barclays
 
held
 
by
 
Barclays
 
Bank
 
PLC.
 
The
 
division
 
includes
 
the
 
large
 
UK
 
Corporate
 
business;
the
 
International
 
Corporate
 
and
 
Private
 
Bank
 
businesses;
 
the
 
Investment
 
Bank;
 
the
 
Barclaycard
 
International
 
business;
 
and
Payments.
‘Barclays
 
UK’
The
 
segment
 
of
 
Barclays
 
held
 
by
 
Barclays
 
Bank
 
UK
 
PLC.
 
The
 
division
 
includes
 
the
 
UK
 
Personal
 
Banking;
 
UK
 
Business
Banking
 
and
 
the
 
Barclaycard
 
Consumer
 
UK
 
businesses.
 
Following
 
a
 
transfer
 
from
 
Barclays
 
International
 
in
 
Q2
 
2020,
 
this
 
also
includes
 
Barclays
 
Partner
 
Finance
 
(BPF).
‘Basel
 
3’
 
The
 
third
 
of
 
the
 
Basel
 
Accords,
 
setting
 
minimum
 
requirements
 
and
 
standards
 
that
 
apply
 
to
 
internationally
 
active
 
banks.
 
Basel
 
3
 
is
 
a
 
set
 
of
 
measures
 
developed
 
by
 
the
 
Basel
 
Committee
 
on
 
Banking
 
Supervision
 
aiming
 
to
 
strengthen
 
the
 
regulation,
supervision
 
and
 
risk
 
management
 
of
 
banks.
‘Basel
 
Committee
 
on
 
Banking
 
Supervision
 
(BCBS)’
 
or
 
‘The
 
Basel
 
Committee’
 
A
 
forum
 
for
 
regular
 
cooperation
 
on
 
banking
 
supervisory
matters
 
which
 
develops
 
global
 
supervisory
 
standar
 
ds
 
for
 
the
 
banking
 
industry.
 
Its
 
45
 
members
 
are
 
officials
 
from
 
central
 
banks
 
or
prudential
 
supervisors
 
from
 
28
 
jurisdictions.
 
‘Basic
 
Indicator
 
Approach
 
(BIA)’
Under
 
the
 
BIA,
 
banks
 
are
 
required
 
to
 
hold
 
regulatory
 
capital
 
for
 
operational
 
risk
 
equal
 
to
 
15%
 
of
 
the
annual
 
average,
 
calculated
 
over
 
a
 
rolling
 
three-year
 
period,
 
of
 
the
 
relevant
 
income
 
indicator
 
for
 
the
 
bank
 
as
 
whole.
 
 
q121ex991p1i0.jpg
Glossary
 
of
 
Terms
Barclays
 
PLC
41
‘Basis
 
point(s)’
 
or
 
‘bp(s)’
 
One
 
hundredth
 
of
 
a
 
per
 
cent
 
(0.01%);
 
100
 
basis
 
points
 
is
 
1%.
 
The
 
measure
 
is
 
used
 
in
 
quoting
 
movements
 
in
interest
 
rates,
 
yields
 
on
 
securities
 
and
 
for
 
other
 
purposes.
 
‘Basis
 
risk’
 
Index/tenor
 
risk,
 
that
 
arises
 
when
 
floating
 
rate
 
products
 
are
 
linked
 
to
 
different
 
interest
 
rate
 
indices,
 
which
 
are
imperfectly
 
correlated,
 
especially
 
under
 
stressed
 
market
 
conditio
 
ns.
‘Behavioural
 
scorecards’
Algorithm
 
based
 
decision
 
tools
 
used
 
to
 
aid
 
business
 
decisions
 
and
 
manage
 
credit
 
risk
 
based
 
on
 
existing
customer
 
data
 
derived
 
from
 
account
 
usage.
‘Book
 
quality’
In
 
the
 
context
 
of
 
the
 
Capital
 
Risk
 
section
 
of
 
the
 
Barclays
 
PLC
 
Annual
 
Report,
 
changes
 
in
 
RWAs
 
caused
 
by
 
factors
 
such
as
 
underlying
 
customer
 
behaviour
 
or
 
demographics
 
leading
 
to
 
changes
 
in
 
risk
 
profile.
‘Book
 
size’
In
 
the
 
context
 
of
 
the
 
Capital
 
Risk
 
section
 
of
 
the
 
Barclays
 
PLC
 
Annual
 
Report
,
 
changes
 
in
 
RWAs
 
driven
 
by
 
business
 
activity,
including
 
net
 
originations
 
or
 
repayments
 
.
 
‘Bounce
 
Back
 
Loan
 
Scheme
 
(BBLS)’
A
 
UK
 
Government
 
(British
 
Business
 
Bank)
 
backed
 
loan
 
scheme
 
which
 
allows
 
small
 
and
 
medium-
sized
 
businesses
 
to
 
borrow
 
between
 
£2,000
 
and
 
£50,000.
 
The
 
UK
 
Government
 
guarantees
 
100%
 
of
 
the
 
loan
 
and
 
pays
 
the
 
first
 
12
months
 
of
 
interest
 
on
 
behalf
 
of
 
the
 
borrowers,
 
subject
 
to
 
terms
 
and
 
conditions.
‘Business
 
Banking’
Business
 
Banking
 
in
 
Barclays
 
UK
offers
 
specialist
 
advice,
 
products
 
and
 
services
 
to
 
small
 
and
 
medium
 
enterprises
in
 
the
 
UK.
 
‘Business
 
scenario
 
stresses’
 
Multi
 
asset
 
scenario
 
analysis
 
of
 
extreme,
 
but
 
plausible
 
events
 
that
 
may
 
impact
 
the
 
market
 
risk
exposures
 
of
 
the
 
Investment
 
Bank.
‘Buy
 
to
 
let
 
mortgage’
A
 
mortgage
 
where
 
the
 
intention
 
of
 
the
 
customer
 
is
 
to
 
let
 
the
 
property
 
at
 
origination.
‘Capital
 
Conservation
 
Buffer
 
(CCB)’
A
 
capital
 
buffer
 
of
 
2.5%
 
of
 
a
 
bank’s
 
total
 
exposures
 
that
 
needs
 
to
 
be
 
met
 
with
 
an
 
additional
amount
 
of
 
Common
 
Equity
 
Tier
 
1
 
capital
 
above
 
the
 
4.5%
 
minimum
 
requirement
 
for
 
Common
 
Equity
 
Tier
 
1
 
set
 
out
 
in
 
CRR.
 
Its
objective
 
is
 
to
 
conserve
 
a
 
bank’s
 
capital
 
by
 
ensuring
 
that
 
banks
 
build
 
up
 
surplus
 
capital
 
outside
 
periods
 
of
 
stress
 
which
 
can
 
be
drawn
 
down
 
if
 
losses
 
are
 
incurred.
 
‘Capital
 
ratios’
 
Key
 
financial
 
ratios
 
measuring
 
the
 
bank's
 
capital
 
adequacy
 
or
 
financial
 
strength
 
expressed
 
as
 
a
 
percentage
 
of
 
RWAs.
‘Capital
 
Requirements
 
Directive
 
(CRD)’
Directive
 
2013/36/EU,
 
a
 
component
 
of
 
the
 
CRD
 
IV
 
package
 
which
 
accompanies
 
the
 
Capital
Requirements
 
Regulation
 
and
 
sets
 
out
 
macroprudential
 
standards
 
including
 
the
 
countercyclical
 
capital
 
buffer
 
and
 
capital
 
buffers
 
for
systemically
 
important
 
institutions.
 
Directive
 
(EU)
 
2019/878,
 
published
 
as
 
part
 
of
 
the
 
EU
 
Risk
 
Reduction
 
Measure
 
package
 
amends
CRD.
 
These
 
amendments
 
entered
 
into
 
force
 
from
 
27
 
June
 
2019,
 
with
 
EU
 
member
 
states
 
required
 
to
 
adopt
 
the
 
measures
 
within
 
the
Directive
 
by
 
28
 
December
 
2020.
 
CRD
 
forms
 
part
 
of
 
UK
 
law
 
pursuant
 
to
 
the
 
European
 
Union
 
(Withdrawal)
 
Act
 
2018,
 
as
 
amended
and
 
is
 
subject
 
to
 
the
 
temporary
 
transitional
 
powers
 
available
 
to
 
UK
 
regulators
 
to
 
delay
 
or
 
phase-in
 
on-
 
shoring
 
changes
 
to
 
UK
regulatory
 
requirements
 
arising
 
at
 
the
 
end
 
of
 
the
 
transition
 
period
 
until
 
31
 
March
 
2022.
‘Capital
 
Requirements
 
Regulation
 
(CRR)’
Regulation
 
(EU)
 
No
 
575/2013,
 
a
 
component
 
of
 
the
 
CRD
 
IV
 
package
 
which
 
accompanies
 
the
Capital
 
Requirements
 
Directive
 
and
 
sets
 
out
 
detailed
 
rules
 
for
 
capital
 
eligibility,
 
the
 
calculation
 
of
 
RWAs,
 
the
 
measurement
 
of
leverage,
 
the
 
management
 
of
 
large
 
exposures
 
and
 
minimum
 
standards
 
for
 
liquidity.
 
Between
 
27
 
June
 
2019
 
and
 
28
 
June
 
2023,
 
this
regulation
 
will
 
be
 
amended
 
in
 
line
 
with
 
the
 
requirements
 
of
 
amending
 
Regulation
 
(EU)
 
2019/876
 
(CRR
 
II).
 
CRR,
 
as
 
amended
 
by
 
CRR
II,
 
forms
 
part
 
of
 
UK
 
law
 
pursuant
 
to
 
the
 
European
 
Union
 
(Withdrawal)
 
Act
 
2018,
 
as
 
amended
 
and
 
is
 
subject
 
to
 
the
 
temporary
transitional
 
powers
 
available
 
to
 
UK
 
regulators
 
to
 
delay
 
or
 
phase-in
 
on-shoring
 
changes
 
to
 
UK
 
regulatory
 
requirements
 
arising
 
at
 
the
end
 
of
 
the
 
transition
 
period
 
until
 
31
 
March
 
2022.
‘Capital
 
Requirement
 
s
 
Regulation
 
II
 
(CRR
 
II)’
Regulation
 
(EU)
 
2019/876,
 
amending
 
Regulation
 
(EU)
 
No
 
575/2013
 
(CRR).
 
This
 
is
 
a
component
 
of
 
the
 
EU
 
Risk
 
Reduction
 
Measure
 
package.
 
The
 
requirements
 
set
 
out
 
in
 
CRR
 
II
 
will
 
be
 
introduced
 
between
 
27
 
June
2019
 
and
 
28
 
June
 
2023.
 
CRR,
 
as
 
amended
 
by
 
CRR
 
II,
 
forms
 
part
 
of
 
UK
 
law
 
pursuant
 
to
 
the
 
European
 
Union
 
(Withdrawal)
 
Act
 
2018,
as
 
amended
 
and
 
is
 
subject
 
to
 
the
 
temporary
 
transitional
 
powers
 
available
 
to
 
UK
 
regulators
 
to
 
delay
 
or
 
phase-in
 
on-shoring
 
changes
to
 
UK
 
regulatory
 
requirement
 
s
 
arising
 
at
 
the
 
end
 
of
 
the
 
transition
 
period
 
until
 
31
 
March
 
2022.
‘Capital
 
requirements
 
on
 
the
 
underlying
 
exposures
 
(KIRB)’
An
 
approach
 
available
 
to
 
banks
 
when
 
calculating
 
RWAs
 
for
 
securitisation
exposures.
 
This
 
is
 
based
 
upon
 
the
 
RWA
 
amounts
 
that
 
would
 
be
 
calculated
 
under
 
the
 
IRB
 
approach
 
for
 
the
 
underlying
 
pool
 
of
securitised
 
exposures
 
in
 
the
 
program,
 
had
 
such
 
exposures
 
not
 
been
 
securitised.
 
 
q121ex991p1i0.jpg
Glossary
 
of
 
Terms
Barclays
 
PLC
42
‘Capital
 
resources’
 
Common
 
Equity
 
Tier
 
1,
 
Additional
 
Tier
 
1
 
capital
 
and
 
Tier
 
2
 
capital
 
that
 
are
 
eligible
 
to
 
satisfy
 
capital
 
requirements
under
 
CRD.
 
Referred
 
to
 
as
 
‘own
 
funds’
 
within
 
EU
 
regulatory
 
texts.
 
‘Capital
 
risk’
 
The
 
risk
 
that
 
the
 
Barclays
 
Group
 
has
 
an
 
insufficient
 
level
 
or
 
composition
 
of
 
capital
 
to
 
support
 
its
 
normal
 
business
activities
 
and
 
to
 
meet
 
its
 
regulatory
 
capital
 
requirements
 
under
 
normal
 
operating
 
environments
 
or
 
stressed
 
conditions
 
(both
 
actual
and
 
as
 
defined
 
for
 
internal
 
planning
 
or
 
regulatory
 
testing
 
purposes).
 
This
 
includes
 
the
 
risk
 
from
 
the
 
Barclays
 
Group’s
 
pension
 
plans.
‘Central
 
Counterpar
 
ty’
 
or
 
‘Central
 
Clearing
 
Counterparties
 
(CCPs)’
 
A
 
clearing
 
house
 
mediating
 
between
 
the
 
buyer
 
and
 
the
 
seller
 
in
 
a
financial
 
transaction,
 
such
 
as
 
a
 
derivative
 
contract
 
or
 
repurchase
 
agreement
 
(repo).
 
Where
 
a
 
central
 
counterparty
 
is
 
used,
 
a
 
single
bi-lateral
 
contract
 
between
 
the
 
buyer
 
and
 
seller
 
is
 
replaced
 
with
 
two
 
contracts,
 
one
 
between
 
the
 
buyer
 
and
 
the
 
CCP
 
and
 
one
between
 
the
 
CCP
 
and
 
the
 
seller.
 
The
 
use
 
of
 
CCPs
 
allows
 
for
 
greater
 
oversight
 
and
 
improved
 
credit
 
risk
 
mitigation
 
in
 
over
 
-the-
counter
 
(OTC)
 
marke
 
ts.
 
‘Charge
 
-off’
 
In
 
the
 
retail
 
segment
 
this
 
refers
 
to
 
the
 
point
 
in
 
time
 
when
 
collections
 
activity
 
changes
 
from
 
the
 
collection
 
of
 
arrears
 
to
the
 
recovery
 
of
 
the
 
full
 
balance.
 
This
 
is
 
normally
 
when
 
six
 
payments
 
are
 
in
 
arrears.
 
‘Client
 
Assets’
Assets
 
manage
 
d
 
or
 
administered
 
by
 
the
 
Barclays
 
Group
 
on
 
behalf
 
of
 
clients
 
including
 
assets
 
under
 
management
(AUM),
 
custody
 
assets,
 
assets
 
under
 
administration
 
and
 
client
 
deposits.
‘CLOs
 
and
 
Other
 
insured
 
assets’
 
Highly
 
rated
 
CLO
 
positions
 
wrapped
 
by
 
monolines,
 
non-CLOs
 
wrapped
 
by
 
monolines
 
and
 
other
assets
 
wrapped
 
with
 
Credit
 
Support
 
Annex
 
(CSA)
 
protection.
‘Collateralised
 
Debt
 
Obligation
 
(CDO)’
 
A
 
security
 
issued
 
by
 
a
 
third
 
party
 
which
 
references
 
Asset
 
Backed
 
Securities
 
and/or
 
certain
other
 
related
 
assets
 
purchased
 
by
 
the
 
issuer.
 
CDOs
 
may
 
feature
 
exposure
 
to
 
sub-prime
 
mortgage
 
assets
 
through
 
the
 
underlying
assets.
 
‘Collateralised
 
Loan
 
Obligation
 
(CLO)’
 
A
 
security
 
backed
 
by
 
repayments
 
from
 
a
 
pool
 
of
 
commercial
 
loans.
 
The
 
payments
 
may
 
be
made
 
to
 
differe
 
nt
 
classes
 
of
 
owners
 
(in
 
tranches).
 
‘Collateralised
 
Mortgage
 
Obligation
 
(CMO)’
 
A
 
security
 
backed
 
by
 
mortgages.
 
A
 
special
 
purpose
 
entity
 
receives
 
income
 
from
 
the
mortgages
 
and
 
passes
 
them
 
on
 
to
 
investors
 
in
 
the
 
security.
‘Combined
 
Buffer
 
Requirement
 
(CBR)’
In
 
the
 
context
 
of
 
the
 
CRD
 
capital
 
obligations,
 
the
 
total
 
Common
 
Equity
 
Tier
 
1
 
capital
 
required
to
 
meet
 
the
 
combined
 
requirements
 
of
 
the
 
Capital
 
Conservation
 
Buffer,
 
the
 
GSII
 
Buffer
 
or
 
the
 
OSII
 
buffer
 
as
 
applicable,
 
the
Systemic
 
Risk
 
buffer
 
and
 
an
 
institution
 
specific
 
counter
 
-cyclical
 
buffer.
‘Commercial
 
paper
 
(CP)’
 
Short-term
 
notes
 
issued
 
by
 
entities,
 
including
 
banks,
 
for
 
funding
 
purposes.
 
‘Commercial
 
real
 
estate
 
(CRE)’
Commercial
 
real
 
estate
 
includes
 
office
 
buildings,
 
industrial
 
property,
 
medical
 
centres,
 
hotels,
 
retail
stores,
 
shopping
 
centres,
 
farm
 
land,
 
multifamily
 
housing
 
buildings,
 
warehouses,
 
garages,
 
industrial
 
properties
 
and
 
other
 
similar
properties.
 
Commercial
 
real
 
estate
 
loans
 
are
 
loans
 
backed
 
by
 
a
 
package
 
of
 
commercial
 
real
 
estate.
 
Note:
 
for
 
the
 
purposes
 
of
 
the
Credit
 
Risk
 
section,
 
the
 
UK
 
CRE
 
portfolio
 
includes
 
property
 
investment,
 
development,
 
trading
 
and
 
housebuilders
 
but
 
excludes
 
social
housing
 
contractors.
‘Commissions
 
and
 
other
 
incentives’
 
Includes
 
commission-based
 
arrangements,
 
guaranteed
 
incentives
 
and
 
Long
 
Term
 
Incentive
 
Plan
awards.
 
‘Committee
 
of
 
Sponsoring
 
Orga
 
nisations
 
of
 
the
 
Treadway
 
Commission
 
Framework
 
(COSO)’
A
 
joint
 
initiative
 
of
 
five
 
private
 
sector
organisations
 
dedicated
 
to
 
the
 
development
 
of
 
frameworks
 
and
 
providing
 
guidance
 
on
 
enterprise
 
risk
 
management,
 
internal
control
 
and
 
fraud
 
deterrence.
‘Commodity
 
derivatives’
 
Exchange
 
traded
 
and
 
over
 
-the-counter
 
(OTC)
 
derivatives
 
based
 
on
 
an
 
underlying
 
commodity
 
(e.g.
 
metals,
precious
 
metals,
 
oil
 
and
 
oil
 
related
 
products,
 
power
 
and
 
natural
 
gas).
 
‘Commodity
 
risk’
 
Measures
 
the
 
impact
 
of
 
changes
 
in
 
commodity
 
prices
 
and
 
volatilities,
 
including
 
the
 
basis
 
between
 
related
commodities
 
(e.g.
 
Brent
 
vs.
 
WTI
 
crude
 
prices).
 
‘Common
 
Equity
 
Tier
 
1
 
(CET1)
 
capital’
 
The
 
highest
 
quality
 
form
 
of
 
regulatory
 
capital
 
under
 
CRR
 
that
 
comprises
 
common
 
shares
issued
 
and
 
related
 
share
 
premium,
 
retained
 
earnings
 
and
 
other
 
reserves,
 
less
 
specified
 
regulatory
 
adjustments.
 
 
q121ex991p1i0.jpg
Glossary
 
of
 
Terms
Barclays
 
PLC
43
‘Common
 
Equity
 
Tier
 
1
 
(CET1)
 
ratio’
 
A
 
measure
 
of
 
Common
 
Equity
 
Tier
 
1
 
capital
 
expressed
 
as
 
a
 
percentage
 
of
 
RWAs.
‘Compensation:
 
income
 
ratio’
The
 
ratio
 
of
 
compensation
 
expense
 
over
 
total
 
income.
 
Compensation
 
represents
 
total
 
staff
 
costs
 
less
non-compensation
 
items
 
consisting
 
of
 
outsourcing,
 
staff
 
training,
 
redundancy
 
costs
 
and
 
retirement
 
costs.
‘
Comprehensive
 
Capital
 
Analysis
 
and
 
Review
 
(CCAR)’
An
 
annual
 
exercise,
 
required
 
by
 
and
 
evaluated
 
by
 
the
 
Federal
 
Reserve,
through
 
which
 
the
 
largest
 
bank
 
holding
 
companies
 
operating
 
in
 
the
 
US
 
assess
 
whether
 
they
 
have
 
sufficient
 
capital
 
to
 
continue
operations
 
through
 
periods
 
of
 
economic
 
and
 
financial
 
stress
 
and
 
have
 
robust
 
capital
 
-planning
 
processes
 
that
 
account
 
for
 
their
unique
 
risks.
‘Comprehensive
 
Risk
 
Capital
 
Charge
 
(CRCC)’
An
 
estimate
 
of
 
all
 
the
 
mate
 
rial
 
market
 
risks,
 
including
 
rating
 
migration
 
and
 
default
 
for
the
 
correlation
 
trading
 
portfolio.
‘Comprehensive
 
Risk
 
Measure
 
(CRM)’
An
 
estimate
 
of
 
all
 
the
 
material
 
market
 
risks,
 
including
 
rating
 
migration
 
and
 
default
 
for
 
the
correlation
 
trading
 
portfolio.
 
Also
 
referred
 
to
 
as
 
All
 
Price
 
Risk
 
(APR)
 
and
 
Comprehensive
 
Risk
 
Capital
 
Charge
 
(CRCC).
‘Conduct
 
risk’
 
The
 
risk
 
of
 
detriment
 
to
 
customers,
 
clients,
 
market
 
integrity,
 
competition
 
or
 
Barclays
 
from
 
the
 
inappropriate
 
supply
of
 
financial
 
services,
 
including
 
instances
 
of
 
wilful
 
or
 
negligent
 
misconduct.
‘Constant
 
Currency
 
Basis’
Excluding
 
the
 
impact
 
of
 
foreign
 
currency
 
conversion
 
to
 
GBP
 
when
 
comparing
 
financial
 
results
 
in
 
two
different
 
financial
 
periods.
‘Consumer,
 
Cards
 
and
 
Payments’
Barclays
 
US
 
Consumer
 
Bank,
 
Pay
 
ments
 
(including
 
merchant
 
acquiring
 
and
 
commercial
 
payments),
Barclaycard
 
Germany
 
and
 
the
 
Private
 
Bank.
 
‘Contingent
 
Capital
 
Notes
 
(CCNs)’
 
Interest
 
bearing
 
debt
 
securities
 
issued
 
by
 
the
 
Barclays
 
Group
 
or
 
its
 
subsidiaries
 
that
 
are
 
either
permanently
 
written
 
off
 
or
 
converted
 
into
 
an
 
equity
 
instrument
 
from
 
the
 
issuer's
 
perspective
 
in
 
the
 
event
 
of
 
the
 
Common
 
Equity
Tier
 
1
 
(CET1)
 
ratio
 
of
 
the
 
relevant
 
Barclays
 
Group
 
entity
 
falling
 
below
 
a
 
specific
 
level,
 
or
 
at
 
the
 
direction
 
of
 
regulators.
 
‘Conversion
 
Trigger’
Used
 
in
 
the
 
context
 
of
 
Contingent
 
Capital
 
Notes
 
and
 
AT1
 
securities.
 
A
 
capital
 
adequacy
 
trigger
 
event
 
occurs
when
 
the
 
CET1
 
ratio
 
of
 
the
 
bank
 
falls
 
below
 
a
 
certain
 
level
 
(the
 
trigger)
 
as
 
defined
 
in
 
the
 
Terms
 
&
 
Conditions
 
of
 
the
 
instruments
issued.
 
See
 
‘Contingent
 
Capital
 
Notes
 
(CCNs)’.
‘Coronavirus
 
Business
 
Interruption
 
Loan
 
Scheme
 
(CBILS)’
A
 
loan
 
scheme
 
by
 
the
 
British
 
Business
 
Bank
 
(BBB)
 
to
 
support
 
UK
 
based
small
 
and
 
medium-sized
 
businesses
 
(turnover
 
of
 
up
 
to
 
£45
 
million)
 
adversely
 
impacted
 
by
 
COVID
 
-19.
 
The
 
CBILS
 
scheme
 
provides
loans
 
up
 
to
 
£5
 
million
 
which
 
are
 
backed
 
by
 
an
 
80%
 
UK
 
Government
 
(BBB)
 
guarantee.
 
The
 
UK
 
Government
 
will
 
pay
 
inte
 
rest
 
and
 
fees
for
 
the
 
first
 
12
 
months
 
on
 
behalf
 
of
 
the
 
borrowers,
 
subject
 
to
 
terms
 
and
 
conditions.
 
Coronavirus
 
Large
 
Business
 
Interruption
 
Loan
 
Scheme
 
(CLBILS)’
A
 
loan
 
scheme
 
by
 
the
 
British
 
Business
 
Bank
 
(BBB)
 
to
 
support
 
UK
based
 
medium-sized
 
businesses
 
(turnover
 
above
 
£45
 
million,
 
but
 
with
 
no
 
access
 
to
 
CCFF)
 
adversely
 
impacted
 
by
 
COVID
 
-19,
 
The
CBILS
 
scheme
 
provides
 
loans
 
of
 
up
 
to
 
£200
 
million
 
which
 
are
 
backed
 
by
 
an
 
80%
 
UK
 
Government
 
(BBB)
 
guarantee.
 
‘Corporate
 
and
 
Investment
 
Bank
 
(CIB)’
Barclays
 
Corpora
 
te
 
and
 
Investment
 
Bank
 
businesses
 
which
 
form
 
part
 
of
 
Barclays
International.
 
‘Correlation
 
risk’
 
Refers
 
to
 
the
 
change
 
in
 
marked
 
to
 
market
 
value
 
of
 
a
 
security
 
when
 
the
 
correlation
 
between
 
the
 
underlying
 
assets
changes
 
over
 
time.
‘Cost
 
of
 
Equity’
 
The
 
rate
 
of
 
return
 
targeted
 
by
 
the
 
equity
 
holders
 
of
 
a
 
company.
 
‘Cost:
 
income
 
jaws’
 
Relationship
 
of
 
the
 
percentage
 
change
 
movement
 
in
 
operating
 
expenses
 
relative
 
to
 
total
 
income.
‘Cost:
 
income
 
ratio’
 
Total
 
operating
 
expenses
 
divided
 
by
 
total
 
income.
 
‘Co
 
untercyclical
 
Capital
 
Buffer
 
(CCyB)’
An
 
additional
 
buffer
 
introduced
 
as
 
part
 
of
 
the
 
CRD
 
IV
 
package
 
that
 
requires
 
banks
 
to
 
have
 
an
additional
 
cushion
 
of
 
CET
 
1
 
capital
 
with
 
which
 
to
 
absorb
 
potential
 
losses,
 
enhancing
 
their
 
resilience
 
and
 
contributing
 
to
 
a
 
stable
financial
 
system.
 
 
q121ex991p1i0.jpg
Glossary
 
of
 
Terms
Barclays
 
PLC
44
‘Countercyclical
 
leverage
 
ratio
 
buffer
 
(CCLB)’
A
 
macroprudential
 
buffer
 
that
 
has
 
applied
 
to
 
specific
 
PRA
 
regulated
 
institutions
 
since
2018
 
and
 
is
 
calculated
 
at
 
35%
 
of
 
any
 
risk
 
weighted
 
countercyclical
 
capital
 
buffer
 
set
 
by
 
the
 
Financial
 
Policy
 
Committee
 
(FPC).
 
The
CCLB
 
applies
 
in
 
addition
 
to
 
the
 
minimum
 
of
 
3.25%
 
and
 
any
 
G-SII
 
additional
 
leverage
 
ratio
 
buffer
 
that
 
applies.
‘Counterparty
 
credit
 
risk
 
(CCR)’
 
The
 
risk
 
that
 
a
 
counterparty
 
to
 
a
 
transaction
 
could
 
default
 
before
 
the
 
final
 
settlement
 
of
 
a
transaction’s
 
cash
 
flows.
 
In
 
the
 
context
 
of
 
RWAs,
 
a
 
component
 
of
 
RWAs
 
that
 
represents
 
the
 
risk
 
of
 
loss
 
from
 
derivatives,
 
repurchase
agreements
 
and
 
similar
 
transactions
 
as
 
a
 
result
 
of
 
the
 
default
 
of
 
the
 
counterparty.
‘Coverage
 
ratio’
 
This
 
represents
 
the
 
percentage
 
of
 
impairment
 
allowance
 
reserve
 
against
 
the
 
gross
 
exposure.
‘Covered
 
bonds’
 
Debt
 
securities
 
backed
 
by
 
a
 
portfolio
 
of
 
mortgages
 
that
 
are
 
segregated
 
from
 
the
 
issuer’s
 
other
 
assets
 
solely
 
for
 
the
benefit
 
of
 
the
 
holders
 
of
 
the
 
covered
 
bonds.
 
‘Covid
 
Corporate
 
Finance
 
Facility
 
(CCFF)’:
 
Bank
 
of
 
England
 
(BOE)
 
scheme
 
to
 
support
 
liquidity
 
among
 
larger
 
investment
 
grade
 
firms
which
 
make
 
a
 
material
 
UK
 
contribution,
 
helping
 
to
 
bridge
 
coronavirus
 
disruption
 
to
 
their
 
cash
 
flows.
 
The
 
Bank
 
of
 
England
 
provides
liquidity
 
by
 
purchasing
 
short-term
 
debt
 
in
 
the
 
form
 
of
 
commercial
 
paper
 
from
 
corporates.
 
Barclays
 
acts
 
as
 
dealer.
‘CRD
 
IV’
The
 
Fourth
 
Capital
 
Requirements
 
Directive,
 
comprising
 
an
 
EU
 
Directive
 
and
 
an
 
accompanying
 
Regulation
 
(CRR)
 
that
together
 
prescribe
 
EU
 
capital
 
adequacy
 
and
 
liquidity
 
requirements,
 
and
 
which
 
implements
 
Basel
 
3
 
in
 
the
 
European
 
Union.
‘CRD
 
V’
The
 
Fifth
 
Capital
 
Requirements
 
Directive,
 
comprising
 
an
 
EU
 
amending
 
Directive
 
and
 
an
 
accompanying
 
amending
 
Regulation
(CRR
 
II)
 
that
 
together
 
prescribe
 
EU
 
capital
 
adequacy
 
and
 
liquidity
 
requirements,
 
and
 
which
 
implements
 
enhanced
 
Basel
 
3
 
proposals
in
 
the
 
European
 
Union.
‘Credit
 
conversion
 
factor
 
(CCF)’
 
A
 
f
actor
 
used
 
to
 
estimate
 
the
 
risk
 
from
 
off
 
-balance
 
sheet
 
commitments
 
for
 
the
 
purpose
 
of
calculating
 
the
 
total
 
Exposure
 
at
 
Default
 
(EAD)
 
used
 
to
 
calculate
 
RWAs.
‘Credit
 
default
 
swaps
 
(CDS)’
 
A
 
contract
 
under
 
which
 
the
 
protection
 
seller
 
receives
 
premiums
 
or
 
interest
 
-related
 
payments
 
in
 
return
for
 
contracting
 
to
 
make
 
payments
 
to
 
the
 
protection
 
buyer
 
in
 
the
 
event
 
of
 
a
 
defined
 
credit
 
event.
 
Credit
 
events
 
normally
 
include
bankruptcy,
 
payment
 
default
 
on
 
a
 
reference
 
asset
 
or
 
assets,
 
or
 
downgrades
 
by
 
a
 
rating
 
agency.
 
‘Credit
 
derivatives
 
(CDs)’
 
An
 
arrangement
 
whereby
 
the
 
credit
 
risk
 
of
 
an
 
asset
 
(the
 
reference
 
asset)
 
is
 
transferred
 
from
 
the
 
buyer
 
to
the
 
seller
 
of
 
the
 
protection.
 
‘Credit
 
impairment
 
charges’
 
Also
 
known
 
as
 
‘credit
 
impairment’.
 
Impairment
 
charges
 
on
 
loans
 
and
 
advances
 
to
 
customers
 
and
 
banks
and
 
impairment
 
charges
 
on
 
fair
 
value
 
through
 
other
 
comprehensive
 
income
 
assets
 
and
 
reverse
 
repurchase
 
agreements.
 
‘Credit
 
market
 
exposures’
 
Assets
 
and
 
other
 
instruments
 
relating
 
to
 
commercial
 
real
 
estate
 
and
 
leveraged
 
finance
 
businesses
 
that
have
 
been
 
significantly
 
impacted
 
by
 
the
 
deterioration
 
in
 
the
 
global
 
credit
 
markets.
 
The
 
exposures
 
include
 
positions
 
subject
 
to
 
fair
value
 
movements
 
in
 
the
 
Income
 
Statement,
 
positions
 
that
 
are
 
classified
 
as
 
loans
 
and
 
advances,
 
and
 
available
 
fo
 
r
 
sale
 
and
 
other
assets.
‘Credit
 
quality
 
step’
 
In
 
the
 
context
 
of
 
the
 
Standardised
 
Approach
 
to
 
calculating
 
credit
 
risk
 
RWAs,
 
a
 
“credit
 
quality
 
assessment
 
scale”
maps
 
the
 
credit
 
assessments
 
of
 
a
 
recognised
 
credit
 
rating
 
agency
 
or
 
export
 
credit
 
agency
 
to
 
credit
 
quality
 
steps
 
that
 
determine
 
the
risk
 
weight
 
to
 
be
 
applied
 
to
 
an
 
exposure.
‘Credit
 
rating’
An
 
evaluation
 
of
 
the
 
creditworthiness
 
of
 
an
 
entity
 
seeking
 
to
 
enter
 
into
 
a
 
credit
 
agreement.
‘Credit
 
risk’
 
The
 
risk
 
of
 
loss
 
to
 
Barclays
 
from
 
the
 
failure
 
of
 
clients,
 
customers
 
or
 
counterparties,
 
including
 
sovereigns,
 
to
 
fully
 
honour
their
 
obligations
 
to
 
Barclays,
 
including
 
the
 
whole
 
and
 
timely
 
payment
 
of
 
principal,
 
interest,
 
collateral
 
and
 
other
 
receivables.
 
In
 
the
context
 
of
 
RWAs,
 
it
 
is
 
the
 
component
 
of
 
RWAs
 
that
 
represents
 
the
 
risk
 
of
 
loss
 
in
 
loans
 
and
 
advances
 
and
 
similar
 
transactions
resulting
 
from
 
the
 
default
 
of
 
the
 
counterparty.
‘Credit
 
risk
 
mitigation’
 
A
 
range
 
of
 
techniques
 
and
 
strategies
 
to
 
actively
 
mitigate
 
credit
 
risks
 
to
 
which
 
the
 
bank
 
is
 
exposed.
 
These
 
ca
 
n
be
 
broadly
 
divided
 
into
 
three
 
types:
 
collateral,
 
netting
 
and
 
set-off,
 
and
 
risk
 
transfer.
 
‘Credit
 
spread’
 
The
 
premium
 
over
 
the
 
benchmark
 
or
 
risk-free
 
rate
 
required
 
by
 
the
 
market
 
to
 
accept
 
a
 
lower
 
credit
 
quality.
 
 
 
q121ex991p1i0.jpg
Glossary
 
of
 
Terms
Barclays
 
PLC
45
‘Credit
 
Valuation
 
Adjustment
 
(CVA)’
 
The
 
difference
 
between
 
the
 
risk-free
 
value
 
of
 
a
 
portfolio
 
of
 
trades
 
and
 
the
 
market
 
value
 
which
takes
 
into
 
account
 
the
 
counterparty’s
 
risk
 
of
 
default.
 
The
 
CVA
 
therefore
 
represents
 
an
 
estimate
 
of
 
the
 
adjustment
 
to
 
fair
 
value
 
that
a
 
market
 
participant
 
would
 
make
 
to
 
incorporate
 
the
 
credit
 
risk
 
of
 
the
 
counterparty
 
due
 
to
 
any
 
failure
 
to
 
perform
 
on
 
contractual
agreements.
 
‘CRR
 
leverage
 
exposure’
 
Calculated
 
in
 
accordance
 
with
 
Article
 
429
 
of
 
the
 
CRR.
‘CRR
 
leverage
 
ratio’
Calculated
 
using
 
the
 
CRR
 
definition
 
of
 
“Tier
 
1
 
capital”
 
for
 
the
 
numerator
 
and
 
the
 
CRR
 
definition
 
of
 
“leverage
exposure”
 
as
 
the
 
denominator.
‘Customer
 
assets’
 
Represents
 
loans
 
and
 
advances
 
to
 
customers.
 
Average
 
balances
 
are
 
calculated
 
as
 
the
 
sum
 
of
 
all
 
daily
 
balances
 
for
the
 
year
 
to
 
date
 
divided
 
by
 
numb
 
er
 
of
 
days
 
in
 
the
 
year
 
to
 
date.
 
‘Customer
 
deposits’
 
In
 
the
 
context
 
of
 
the
 
Liquidity
 
Risk
 
section,
 
money
 
deposited
 
by
 
all
 
individuals
 
and
 
companies
 
that
 
are
 
not
credit
 
institutions.
 
Such
 
funds
 
are
 
recorded
 
as
 
liabilities
 
in
 
the
 
Barclays
 
Group’s
 
balance
 
sheet
 
under
 
“deposits
 
at
 
amortised
 
cost”.
 
‘Customer
 
liabilities’
 
See
 
‘Customer
 
deposits’.
 
‘Daily
 
Value
 
at
 
Risk
 
(DVaR)’
 
An
 
estimate
 
of
 
the
 
potential
 
loss
 
which
 
might
 
arise
 
from
 
market
 
movements
 
under
 
normal
 
market
conditions,
 
if
 
the
 
current
 
positions
 
were
 
to
 
be
 
held
 
unchanged
 
for
 
one
 
business
 
day,
 
measured
 
to
 
a
 
specified
 
confidence
 
level.
 
‘DBRS’
 
A
 
credit
 
rating
 
agency.
 
‘Debit
 
Valuation
 
Adjustment
 
(DVA)’
 
The
 
opposite
 
of
 
Credit
 
Valuation
 
Adjustment
 
(CVA).
 
It
 
is
 
the
 
difference
 
between
 
the
 
risk-free
value
 
of
 
a
 
portfolio
 
of
 
trades
 
and
 
the
 
market
 
value
 
which
 
takes
 
into
 
account
 
the
 
Barclays
 
Group’s
 
risk
 
of
 
default.
 
The
 
DVA,
therefore,
 
represents
 
an
 
estimate
 
of
 
the
 
adjustment
 
to
 
fair
 
value
 
that
 
a
 
market
 
participant
 
would
 
make
 
to
 
incorporate
 
the
 
credit
risk
 
of
 
the
 
Barclays
 
Group
 
due
 
to
 
any
 
failure
 
to
 
perform
 
on
 
contra
 
ctual
 
obligations.
 
The
 
DVA
 
decreases
 
the
 
value
 
of
 
a
 
liability
 
to
take
 
into
 
account
 
a
 
reduction
 
in
 
the
 
remaining
 
balance
 
that
 
would
 
be
 
settled
 
should
 
the
 
Barclays
 
Group
 
default
 
or
 
not
 
perform
 
any
contractual
 
obligations.
 
‘Debt
 
buybacks’
 
Purchases
 
of
 
the
 
Barclays
 
Group’s
 
issued
 
debt
 
securities,
 
including
 
equity
 
accounted
 
instruments,
 
leading
 
to
 
their
de-recognition
 
from
 
the
 
balance
 
sheet.
 
‘Debt
 
securities
 
in
 
issue’
 
Transferable
 
securities
 
evidencing
 
indebtedness
 
of
 
the
 
Barclays
 
Group.
 
These
 
are
 
liabilities
 
of
 
the
 
Barclays
Group
 
and
 
include
 
certificates
 
of
 
deposit
 
and
 
commercial
 
paper.
 
‘Default
 
grades’
 
The
 
Barclays
 
Group
 
classifies
 
ranges
 
of
 
default
 
probabilities
 
into
 
a
 
set
 
of
 
21
 
intervals
 
called
 
default
 
grades,
 
in
 
order
to
 
distinguish
 
differences
 
in
 
the
 
probability
 
of
 
default
 
risk.
‘Default
 
fund
 
contributions’
 
The
 
amount
 
of
 
contribution
 
made
 
by
 
members
 
of
 
a
 
central
 
counterparty
 
(CCP).
 
All
 
members
 
are
required
 
to
 
contribute
 
to
 
this
 
fund
 
in
 
advance
 
of
 
using
 
a
 
CCP.
 
The
 
default
 
fund
 
can
 
be
 
used
 
by
 
the
 
CCP
 
to
 
cover
 
losses
 
incurred
 
by
the
 
CCP
 
where
 
losses
 
are
 
greate
 
r
 
than
 
the
 
margins
 
provided
 
by
 
a
 
defaulting
 
member.
 
‘Derivatives
 
netting’
 
Adjustments
 
applied
 
across
 
asset
 
and
 
liability
 
mark-to
 
-market
 
derivative
 
positions
 
pursuant
 
to
 
legally
enforceable
 
bilateral
 
netting
 
agreements
 
and
 
eligible
 
cash
 
collateral
 
received
 
in
 
derivative
 
transactions
 
that
 
meet
 
the
 
requirements
of
 
BCBS
 
270
 
(Basel
 
III
 
leverage
 
ratio
 
framework
 
and
 
disclosure
 
requirements).
‘Diversification
 
effect’
 
Reflects
 
the
 
fact
 
the
 
risk
 
of
 
a
 
diversified
 
portfolio
 
is
 
smaller
 
than
 
the
 
sum
 
of
 
the
 
risks
 
of
 
its
 
constituent
 
parts.
It
 
is
 
measured
 
as
 
the
 
sum
 
of
 
the
 
individual
 
asset
 
class
 
DVaR
 
estimates
 
less
 
the
 
total
 
DVaR.
 
‘Dodd-Frank
 
Act
 
(DFA)’
 
The
 
US
 
Dodd-Frank
 
Wall
 
Street
 
Reform
 
and
 
Consumer
 
Protection
 
Act
 
of
 
2010.
 
‘Economic
 
Value
 
of
 
Equity
 
(EVE)’
 
A
 
measure
 
of
 
the
 
potential
 
change
 
in
 
value
 
of
 
expected
 
future
 
cash
 
flows
 
due
 
to
 
an
 
adverse
interest
 
rate
 
movement,
 
based
 
on
 
existing
 
balance
 
sheet
 
run-off
 
profile.
'Effective
 
Expected
 
Positive
 
Exposure
 
(EEPE)'
The
 
weighted
 
average
 
over
 
time
 
of
 
effective
 
expected
 
exposure.
 
The
 
weights
 
are
 
the
proportion
 
that
 
an
 
individual
 
exposure
 
represents
 
of
 
the
 
entire
 
exposure
 
horizon
 
time
 
interval.
 
 
q121ex991p1i0.jpg
Glossary
 
of
 
Terms
Barclays
 
PLC
46
‘Effective
 
interest
 
rate
 
(EIR)’
As
 
defined
 
in
 
IFRS
 
9
Financial
 
Instruments
,
 
effective
 
interest
 
rate
 
is
 
the
 
rate
 
that
 
exact
 
ly
 
discounts
estimated
 
future
 
cash
 
payments
 
or
 
receipts
 
through
 
the
 
expected
 
life
 
of
 
the
 
financial
 
asset
 
or
 
financial
 
liability
 
to
 
the
 
gross
 
carrying
amount
 
of
 
a
 
financial
 
asset
 
or
 
to
 
the
 
amortised
 
cost
 
of
 
a
 
financial
 
liability.
 
‘Eligible
 
liabilities’
Liabilities
 
and
 
capital
 
instruments
 
that
 
are
 
eligible
 
to
 
meet
 
MREL
 
that
 
do
 
not
 
already
 
qualify
 
as
 
own
 
funds.
 
‘Encumbrance’
The
 
use
 
of
 
assets
 
to
 
secure
 
liabilities,
 
such
 
as
 
by
 
way
 
of
 
a
 
lien
 
or
 
charge.
‘Enterprise
 
Risk
 
Management
 
Fra
 
mework
 
(ERMF)’
 
The
 
Barclays
 
Group’s
 
risk
 
management
 
responsibilities
 
are
 
laid
 
out
 
in
 
the
Enterprise
 
Risk
 
Management
 
Framework,
 
which
 
describes
 
how
 
Barclays
 
identifies
 
and
 
manages
 
risk.
 
The
 
framework
 
identifies
 
the
principal
 
risks
 
faced
 
by
 
the
 
Barclays
 
Group;
 
sets
 
out
 
risk
 
appetite
 
requirements;
 
sets
 
out
 
roles
 
and
 
responsibilities
 
for
 
risk
management;
 
and
 
sets
 
out
 
risk
 
committee
 
structure.
‘Equities’
 
Trading
 
businesses
 
encompassing
 
Cash
 
Equities,
 
Equity
 
Derivatives
 
&
 
Equity
 
Financing
‘Equity
 
and
 
stock
 
index
 
derivatives’
 
Derivatives
 
whose
 
value
 
is
 
derived
 
from
 
equity
 
securities.
 
This
 
category
 
includes
 
equity
 
and
stock
 
index
 
swaps
 
and
 
options
 
(including
 
warrants,
 
which
 
are
 
equity
 
options
 
listed
 
on
 
an
 
exchange).
 
The
 
Barclays
 
Group
 
also
 
enters
into
 
fund-linked
 
derivatives,
 
being
 
swaps
 
and
 
options
 
whose
 
underlyings
 
include
 
mutual
 
funds,
 
hedge
 
funds,
 
indices
 
and
 
multi-
asset
 
portfolios.
 
An
 
equity
 
swap
 
is
 
an
 
agreement
 
between
 
two
 
parties
 
to
 
exchange
 
periodic
 
payments,
 
based
 
upon
 
a
 
notional
principal
 
amount,
 
with
 
one
 
side
 
paying
 
fixed
 
or
 
floating
 
interest
 
and
 
the
 
other
 
side
 
paying
 
based
 
on
 
the
 
actual
 
return
 
of
 
the
 
stock
 
or
stock
 
index.
 
An
 
equity
 
option
 
provides
 
the
 
buyer
 
with
 
the
 
right,
 
but
 
not
 
the
 
obligation,
 
either
 
to
 
purchase
 
or
 
sell
 
a
 
specified
 
stock,
basket
 
of
 
stocks
 
or
 
stock
 
index
 
at
 
a
 
specified
 
price
 
or
 
level
 
on
 
or
 
before
 
a
 
specified
 
date.
 
‘Equity
 
risk’
 
In
 
the
 
context
 
of
 
trading
 
book
 
capital
 
requirements,
 
the
 
risk
 
of
 
change
 
in
 
market
 
value
 
of
 
an
 
equity
 
investment.
 
‘Equity
 
structural
 
hedge’
 
An
 
interest
 
rate
 
hedge
 
in
 
place
 
to
 
reduce
 
earnings
 
volatility
 
of
 
the
 
overnight
 
/
 
short
 
term
 
equity
investment
 
and
 
to
 
smoothen
 
the
 
income
 
over
 
a
 
medium/long
 
term.
 
‘EU
 
Risk
 
Reduction
 
Measure
 
package’
A
 
collection
 
of
 
amending
 
Regulations
 
and
 
Directives
 
that
 
update
 
core
 
EU
 
regulatory
 
texts
 
and
which
 
came
 
into
 
force
 
on
 
27
 
June
 
2019.
‘Euro
 
Interbank
 
Offered
 
Rate
 
(EURIBOR)’
 
A
 
benchmark
 
interest
 
rate
 
at
 
which
 
banks
 
can
 
borrow
 
funds
 
from
 
other
 
banks
 
in
 
the
European
 
interbank
 
market.
 
‘Europe’
 
Geographic
 
segment
 
comprising
 
countries
 
in
 
which
 
Barclays
 
operates
 
within
 
the
 
EU
 
(excluding
 
the
 
UK),
 
Northern
Continental
 
and
 
Eastern
 
Europe.
 
‘European
 
Banking
 
Authority
 
(EBA)’
The
 
European
 
Banking
 
Authority
 
(EBA)
 
is
 
an
 
independent
 
EU
 
Authority
 
which
 
wor
 
ks
 
to
 
ensure
effective
 
and
 
consistent
 
prudential
 
regulation
 
and
 
supervision
 
across
 
the
 
European
 
banking
 
sector.
 
Its
 
overall
 
objectives
 
are
 
to
maintain
 
financial
 
stability
 
in
 
the
 
EU
 
and
 
to
 
safeguard
 
the
 
integrity,
 
efficiency
 
and
 
orderly
 
functioning
 
of
 
the
 
banking
 
sector.
‘European
 
Securities
 
and
 
Markets
 
Authority
 
(ESMA)’
An
 
independent
 
European
 
Supervisory
 
Authority
 
with
 
the
 
remit
 
of
 
enhancing
the
 
protection
 
of
 
investors
 
and
 
reinforcing
 
stable
 
and
 
well-functioning
 
financial
 
markets
 
in
 
the
 
European
 
Union.
 
‘Eurozone’
Represents
 
the
 
19
 
European
 
Union
 
countries
 
that
 
have
 
adopted
 
the
 
Euro
 
as
 
their
 
common
 
currency.
 
The
 
19
 
countries
are
 
Austria,
 
Belgium,
 
Cyprus,
 
Estonia,
 
Finland,
 
France,
 
Germany,
 
Greece,
 
Ireland,
 
Italy,
 
Latvia,
 
Lithuania,
 
Luxembourg,
 
Malta,
Netherlands,
 
Portugal,
 
Slovakia,
 
Slovenia
 
and
 
Spain.
‘Expected
 
Credit
 
Losses
 
(ECL)’
 
A
 
present
 
value
 
measure
 
of
 
the
 
credit
 
losses
 
expected
 
to
 
result
 
from
 
default
 
events
 
that
 
may
 
occur
during
 
a
 
specified
 
period
 
of
 
time.
 
ECLs
 
must
 
reflect
 
the
 
present
 
value
 
of
 
cash
 
shortfalls,
 
and
 
the
 
unbiased
 
and
 
probability
 
weighted
assessment
 
of
 
a
 
range
 
of
 
outcomes.
‘Expected
 
Losses’
 
A
 
regulatory
 
measure
 
of
 
anticipated
 
losses
 
for
 
exposures
 
captured
 
under
 
an
 
internal
 
ratings
 
based
 
credit
 
risk
approach
 
for
 
capital
 
adequacy
 
ca
 
lculations.
 
It
 
is
 
measured
 
as
 
the
 
Barclays
 
Group's
 
modelled
 
view
 
of
 
anticipated
 
losses
 
based
 
on
Probability
 
of
 
Default
 
(PD),
 
Loss
 
Given
 
Default
 
(LGD)
 
and
 
Exposure
 
at
 
Default
 
(EAD),
 
with
 
a
 
one-year
 
time
 
horizon.
’Expert
 
lender
 
models’
 
Models
 
of
 
risk
 
measures
 
that
 
are
 
used
 
for
 
parts
 
of
 
the
 
portfolio
 
where
 
the
 
risk
 
drivers
 
are
 
specific
 
to
 
a
particular
 
counterparty,
 
but
 
where
 
there
 
is
 
insufficient
 
data
 
to
 
support
 
the
 
construction
 
of
 
a
 
statistical
 
model.
 
These
 
models
 
utilise
the
 
knowledge
 
of
 
credit
 
experts
 
that
 
have
 
in
 
depth
 
experience
 
of
 
the
 
specific
 
customer
 
type
 
being
 
modelled.
 
 
q121ex991p1i0.jpg
Glossary
 
of
 
Terms
Barclays
 
PLC
47
‘Exposure’
Generally
 
refers
 
to
 
positions
 
or
 
actions
 
taken
 
by
 
a
 
bank,
 
or
 
consequences
 
thereof,
 
that
 
may
 
put
 
a
 
certain
 
amount
 
of
 
a
bank’s
 
resources
 
at
 
risk.
‘Exposure
 
at
 
Default
 
(EAD)’
 
The
 
estimation
 
of
 
the
 
extent
 
to
 
which
 
the
 
Barclays
 
Group
 
may
 
be
 
exposed
 
to
 
a
 
customer
 
or
counterparty
 
in
 
the
 
event
 
of,
 
and
 
at
 
the
 
time
 
of,
 
that
 
counterparty’s
 
default.
 
At
 
default,
 
the
 
customer
 
may
 
not
 
have
 
drawn
 
the
 
loan
fully
 
or
 
may
 
already
 
have
 
repaid
 
some
 
of
 
the
 
principal,
 
so
 
that
 
exposure
 
may
 
be
 
less
 
than
 
the
 
approved
 
loan
 
limit.
‘External
 
Credit
 
Assessment
 
Institutions
 
(ECAI)’
Institutions
 
whose
 
credit
 
assessments
 
may
 
be
 
used
 
by
 
credit
 
institutions
 
for
 
the
determination
 
of
 
risk
 
weight
 
exposures
 
accordin
 
g
 
to
 
CRR.
‘External
 
ratings
 
based
 
approach
 
/
 
internal
 
assessment
 
approach
 
(Sec
 
ERBA
 
/
 
IAA)’
 
Under
 
the
 
SEC-ERBA
 
approach,
 
regulatory
capital
 
is
 
assigned
 
to
 
securitisation
 
tranches
 
on
 
the
 
basis
 
of
 
their
 
external
 
credit
 
rating.
 
SEC-ERBA
 
approach
 
can
 
also
 
be
 
used
 
for
unrated
 
ABCP
 
exposures
 
where
 
the
 
institution
 
has
 
the
 
regulatory
 
permission
 
to
 
use
 
t
 
he
 
Internal
 
Assessment
 
approach
 
(IAA)
 
to
assign
 
a
 
credit
 
rating
 
to
 
the
 
unrated
 
ABCP
 
exposure.
‘Federal
 
Reserve
 
Board
 
(FRB)’
The
 
Board
 
of
 
Governors
 
of
 
the
 
Federal
 
Reserve
 
System,
 
commonly
 
known
 
as
 
the
 
Federal
 
Reserve
Board,
 
is
 
responsible
 
for
 
-
 
amongst
 
other
 
things
 
–
 
setting
 
monetary
 
policy
 
in
 
the
 
US.
'FICC'
Represents
 
Macro
 
(including
 
rates
 
and
 
currency),
 
Credit
 
and
 
Securitised
 
products.
'Financial
 
Policy
 
Committee
 
(FPC)'
 
The
 
Bank
 
of
 
England’s
 
Financial
 
Policy
 
Committee
 
identifies,
 
monitors
 
and
 
takes
 
action
 
to
 
remove
or
 
reduce
 
systemic
 
risks
 
with
 
a
 
view
 
to
 
protecting
 
and
 
enhancing
 
the
 
resilience
 
of
 
the
 
UK
 
financial
 
system.
 
The
 
FPC
 
also
 
has
 
a
secondary
 
objective
 
to
 
support
 
the
 
economic
 
policy
 
of
 
the
 
UK
 
Government.
'Foundation
 
Internal
 
Ratings
 
Based
 
(F-IRB)’
 
See
 
‘Internal
 
Ratings
 
Based
 
(IRB)’.
 
‘Financial
 
Conduct
 
Authority
 
(FCA)’
 
The
 
statutory
 
body
 
responsible
 
for
 
conduct
 
of
 
business
 
regulation
 
and
 
supervision
 
of
 
UK
authorised
 
firms.
 
The
 
FCA
 
also
 
has
 
responsibility
 
for
 
the
 
prudential
 
regulation
 
of
 
firms
 
that
 
do
 
not
 
fall
 
within
 
the
 
PRA’s
 
scope.
 
‘Financial
 
Services
 
Compensation
 
Scheme
 
(FSCS)’
 
The
 
UK’s
 
fund
 
for
 
compensation
 
of
 
authorised
 
financial
 
services
 
firms
 
that
 
are
unable
 
to
 
pay
 
claims.
 
‘Financial
 
collateral
 
comprehensive
 
method
 
(FCCM)’
A
 
counterparty
 
credit
 
risk
 
exposure
 
calculation
 
approach
 
which
 
applies
volatility
 
adjustments
 
to
 
the
 
market
 
value
 
of
 
exposure
 
and
 
collateral
 
when
 
calculating
 
RWA
 
values.
‘Financial
 
Stability
 
Board
 
(FSB)’
An
 
international
 
body
 
that
 
monitors
 
and
 
makes
 
recommendations
 
about
 
the
 
global
 
financial
system.
 
It
 
promotes
 
international
 
financial
 
stability
 
by
 
coordinating
 
national
 
financial
 
authorities
 
and
 
international
 
standard
 
-
 
setting
bodies
 
as
 
they
 
work
 
toward
 
developing
 
strong
 
regulatory,
 
supervisory
 
and
 
other
 
financial
 
sector
 
policies.
 
It
 
fosters
 
a
 
level
 
playing
field
 
by
 
encouraging
 
coherent
 
implementa
 
tion
 
of
 
these
 
policies
 
across
 
sectors
 
and
 
jurisdictions.
‘Fitch’
 
A
 
credit
 
rating
 
agency.
 
‘Forbearance
 
Programmes’
 
Forbearance
 
programmes
 
to
 
assist
 
customers
 
in
 
financial
 
difficulty
 
through
 
agreements
 
to
 
accept
 
less
than
 
contractual
 
amounts
 
due
 
where
 
financial
 
distress
 
would
 
otherwise
 
prevent
 
satisfactory
 
repayment
 
within
 
the
 
original
 
terms
and
 
conditions
 
of
 
the
 
contr
 
act.
 
These
 
agreements
 
may
 
be
 
initiated
 
by
 
the
 
customer,
 
Barclays
 
or
 
a
 
third
 
party
 
and
 
include
 
approved
debt
 
counselling
 
plans,
 
minimum
 
due
 
reductions,
 
interest
 
rate
 
concessions
 
and
 
switches
 
from
 
capital
 
and
 
interest
 
repayments
 
to
interest
 
-only
 
payments.
 
‘Foreclosures
 
in
 
Progress’
The
 
process
 
by
 
which
 
the
 
bank
 
initiates
 
legal
 
action
 
against
 
a
 
customer
 
with
 
the
 
intention
 
of
 
terminating
a
 
loan
 
agreement
 
whereby
 
the
 
bank
 
may
 
repossess
 
the
 
property
 
subject
 
to
 
local
 
law
 
and
 
recover
 
amounts
 
it
 
is
 
owed.
‘Foreign
 
exchange
 
derivatives’
 
The
 
Barclays
 
Group’s
 
principal
 
exchange
 
rate
 
-related
 
contracts
 
are
 
forward
 
foreign
 
exchange
contracts,
 
currency
 
swaps
 
and
 
currency
 
options.
 
Forward
 
foreign
 
exchange
 
contracts
 
are
 
agreements
 
to
 
buy
 
or
 
sell
 
a
 
specified
quantity
 
of
 
foreign
 
currency,
 
usually
 
on
 
a
 
specified
 
future
 
date
 
at
 
an
 
agreed
 
rate.
 
Currency
 
swaps
 
generally
 
involve
 
the
 
exchange,
 
or
notional
 
exchange,
 
of
 
equivalent
 
amounts
 
of
 
two
 
currencies
 
and
 
a
 
commitment
 
to
 
exchange
 
interest
 
periodically
 
until
 
the
 
principal
amounts
 
are
 
re-exchanged
 
on
 
a
 
future
 
date.
 
Currency
 
options
 
provide
 
the
 
buyer
 
with
 
the
 
right,
 
but
 
not
 
the
 
obligation,
 
either
 
to
purchase
 
or
 
sell
 
a
 
fixed
 
amount
 
of
 
a
 
currency
 
at
 
a
 
specified
 
exchange
 
rate
 
on
 
or
 
before
 
a
 
future
 
date.
 
As
 
compensation
 
for
assuming
 
the
 
option
 
risk,
 
the
 
option
 
writer
 
generally
 
receives
 
a
 
premium
 
at
 
the
 
start
 
of
 
the
 
option
 
period.
‘Foreign
 
exchange
 
risk’
 
In
 
the
 
context
 
of
 
DVaR,
 
the
 
impact
 
of
 
changes
 
in
 
foreign
 
exchange
 
rates
 
and
 
volatilities.
 
 
 
q121ex991p1i0.jpg
Glossary
 
of
 
Terms
Barclays
 
PLC
48
‘Full
 
time
 
equivalent’
Full
 
time
 
equivalent
 
units
 
are
 
the
 
on-job
 
hours
 
paid
 
for
 
employee
 
services
 
divided
 
by
 
the
 
number
 
of
 
ordinary-
time
 
hours
 
normally
 
paid
 
for
 
a
 
full-time
 
staff
 
member
 
when
 
on
 
the
 
job
 
(or
 
contract
 
employees
 
where
 
applicable).
‘Fully
 
loaded’
When
 
a
 
measure
 
is
 
presented
 
or
 
described
 
as
 
being
 
on
 
a
 
fully
 
loaded
 
basis,
 
it
 
is
 
calculated
 
without
 
applying
 
the
transitional
 
provisions
 
set
 
out
 
in
 
Part
 
Ten
 
of
 
CRR.
 
‘Funded
 
credit
 
protection’
 
A
 
technique
 
of
 
credit
 
risk
 
mitigation
 
where
 
the
 
reduction
 
of
 
the
 
credit
 
risk
 
on
 
the
 
exposure
 
of
 
an
institution
 
derives
 
from
 
the
 
right
 
of
 
that
 
institution,
 
in
 
the
 
event
 
of
 
the
 
default
 
of
 
the
 
counterparty
 
or
 
on
 
the
 
occurrence
 
of
 
other
specified
 
credit
 
event
 
s
 
relating
 
to
 
the
 
counterparty,
 
to
 
liquidate,
 
or
 
to
 
obtain
 
transfer
 
or
 
appropriation
 
of,
 
or
 
to
 
retain
 
certain
 
assets
or
 
amounts,
 
or
 
to
 
reduce
 
the
 
amount
 
of
 
the
 
exposure
 
to,
 
or
 
to
 
replace
 
it
 
with,
 
the
 
amount
 
of
 
the
 
difference
 
between
 
the
 
amount
 
of
the
 
expos
 
ure
 
and
 
the
 
amount
 
of
 
a
 
claim
 
on
 
the
 
institution.
‘Gains
 
on
 
acquisitions’
 
The
 
amount
 
by
 
which
 
the
 
acquirer’s
 
interest
 
in
 
the
 
net
 
fair
 
value
 
of
 
the
 
identifiable
 
assets,
 
liabilities
 
and
contingent
 
liabilities,
 
recognised
 
in
 
a
 
business
 
combination,
 
exceeds
 
the
 
cost
 
of
 
the
 
combination.
 
‘General
 
Data
 
Protection
 
Regulation
 
(GDPR)’
GDPR
 
(Regulation
 
(EU)
 
2016/679)
 
is
 
a
 
regulation
 
by
 
which
 
the
 
European
 
Parliament,
the
 
Council
 
of
 
the
 
European
 
Union
 
and
 
the
 
European
 
Commission
 
intend
 
to
 
strengthen
 
and
 
unify
 
data
 
protection
 
for
 
all
 
individuals
within
 
the
 
European
 
Union.
 
GDPR
 
forms
 
part
 
of
 
UK
 
law
 
pursuant
 
to
 
the
 
European
 
Union
 
(Withdrawal)
 
Act
 
2018,
 
as
 
amended.
‘General
 
market
 
risk’
 
The
 
risk
 
of
 
a
 
price
 
change
 
in
 
a
 
financial
 
instrument
 
due
 
to
 
a
 
change
 
in
 
the
 
level
 
of
 
interest
 
rates
 
or
 
owing
 
to
 
a
broad
 
equity
 
market
 
movement
 
unrelated
 
to
 
any
 
specific
 
attributes
 
of
 
individual
 
securities.
‘Global
 
-Systemically
 
Important
 
Banks
 
(G-SIBs
 
or
 
G-SIIs)’
 
Global
 
financial
 
institutions
 
whose
 
size,
 
complexity
 
and
 
systemic
interconnectedness,
 
mean
 
that
 
their
 
distress
 
or
 
failure
 
would
 
cause
 
significant
 
disruption
 
to
 
the
 
wider
 
financial
 
system
 
and
economic
 
activity.
 
The
 
Financial
 
Stability
 
Board
 
and
 
the
 
Basel
 
Committee
 
on
 
Banking
 
Supervision
 
publish
 
a
 
list
 
of
 
global
 
systemically
important
 
banks.
 
‘G
 
-SII
 
additional
 
leverage
 
ratio
 
buffer
 
(G-SII
 
ALRB)’
A
 
macroprudential
 
buffer
 
that
 
applies
 
to
 
G-SIBs
 
and
 
other
 
major
 
domestic
 
UK
banks
 
and
 
building
 
societies,
 
including
 
banks
 
that
 
are
 
subject
 
to
 
ring-fencing
 
requirements.
 
The
 
G-
 
SII
 
ALRB
 
will
 
be
 
calibrated
 
as
 
35%
(on
 
a
 
phased
 
basis)
 
of
 
the
 
combined
 
Systemic
 
Risk
 
Buffers
 
that
 
apply
 
to
 
the
 
bank.
‘GSII
 
Buffer’
Common
 
Equity
 
Tier
 
1
 
capital
 
required
 
to
 
be
 
held
 
under
 
CRD
 
to
 
ensure
 
that
 
G-
 
SIBs
 
build
 
up
 
surplus
 
capital
 
to
compensate
 
for
 
the
 
systemic
 
risk
 
that
 
such
 
institutions
 
represent
 
to
 
the
 
financial
 
system.
’Grandfathering’
 
In
 
the
 
context
 
of
 
capital
 
resources,
 
the
 
phasing
 
in
 
of
 
the
 
application
 
of
 
instrument
 
eligibility
 
rules
 
which
 
allows
 
CRR
and
 
CRR
 
II
 
non-compliant
 
capital
 
instruments
 
to
 
be
 
included
 
in
 
regulatory
 
capital
 
subject
 
to
 
certain
 
thresholds
 
which
 
decrease
 
over
the
 
transitional
 
period.
‘Gross
 
charge-off
 
rates’
 
Represents
 
the
 
balances
 
charged
 
-off
 
to
 
recoveries
 
in
 
the
 
reporting
 
period,
 
expressed
 
as
 
a
 
percentage
 
of
average
 
outstanding
 
balances
 
excluding
 
balances
 
in
 
recoveries.
 
Charge-off
 
to
 
recoveries
 
generally
 
occurs
 
when
 
the
 
collections
 
focus
switches
 
from
 
the
 
collection
 
of
 
arrears
 
to
 
the
 
recovery
 
of
 
the
 
entire
 
outstan
 
ding
 
balance,
 
and
 
represents
 
a
 
fundamental
 
change
 
in
the
 
relationship
 
between
 
the
 
bank
 
and
 
the
 
customer.
 
This
 
is
 
a
 
measure
 
of
 
the
 
proportion
 
of
 
customers
 
that
 
have
 
gone
 
into
 
default
during
 
the
 
period.
 
‘Gross
 
write-off
 
rates’
 
Expressed
 
as
 
a
 
percentage
 
and
 
represent
 
balances
 
written
 
off
 
in
 
the
 
reporting
 
period
 
divided
 
by
 
gross
 
loans
and
 
advances
 
held
 
at
 
amortised
 
cost
 
at
 
the
 
balance
 
sheet
 
date.
‘Gross
 
new
 
lending’
 
New
 
lending
 
advanced
 
to
 
customers
 
during
 
the
 
period.
 
‘Guarantee’
 
Unless
 
otherwise
 
described,
 
an
 
undertaking
 
by
 
a
 
third
 
party
 
to
 
pay
 
a
 
creditor
 
should
 
a
 
debtor
 
fail
 
to
 
do
 
so.
 
It
 
is
 
a
 
form
of
 
credit
 
substitution.
 
‘Head
 
Office’
 
Comprises
 
head
 
office,
 
Barclays
 
Services
 
FTE
 
and
 
legacy
 
businesses.
 
‘High-Net-Worth’
 
Businesses
 
within
 
Barclays
 
UK
 
and
 
Barclays
 
International
 
that
 
provide
 
banking
 
and
 
other
 
services
 
to
 
high
 
net
worth
 
customers.
 
 
 
q121ex991p1i0.jpg
Glossary
 
of
 
Terms
Barclays
 
PLC
49
‘High
 
quality
 
liquidity
 
assets
 
(HQLA)’
 
It
 
comprises
 
eligible
 
and
 
unencumbered
 
cash
 
or
 
assets
 
that
 
can
 
be
 
converted
 
into
 
cash
 
at
 
little
or
 
no
 
loss
 
of
 
value
 
in
 
private
 
markets,
 
to
 
meet
 
liquidity
 
needs
 
arising
 
from
 
a
 
liquidity
 
stress
 
scenario
 
or
 
event.
 
Please
 
refer
 
to
 
‘Level
1
 
assets’
 
and
 
‘Level
 
2
 
assets’.
 
‘High
 
Risk’
In
 
retail
 
banking,
 
‘High
 
Risk’
 
is
 
defined
 
as
 
the
 
subset
 
of
 
up-to
 
-date
 
customers
 
who,
 
either
 
through
 
an
 
event
 
or
 
observed
behaviour
 
exhibit
 
potential
 
financial
 
difficulty.
 
Where
 
appropriate,
 
these
 
customers
 
are
 
proactively
 
contacted
 
to
 
assess
 
whether
assistance
 
is
 
required.
‘Home
 
loan’
 
A
 
loan
 
to
 
purchase
 
a
 
residential
 
property.
 
The
 
property
 
is
 
then
 
used
 
as
 
collateral
 
to
 
guarantee
 
repayment
 
of
 
the
 
loan.
The
 
borrower
 
gives
 
the
 
lender
 
a
 
lien
 
against
 
the
 
property
 
and
 
the
 
lender
 
can
 
foreclose
 
on
 
the
 
property
 
if
 
the
 
borrower
 
does
 
not
repay
 
the
 
loan
 
per
 
the
 
agreed
 
terms.
 
Also
 
known
 
as
 
a
 
residential
 
mortgage.
 
‘IHC’
 
or
 
‘US
 
IHC’
Barclays
 
US
 
LLC,
 
the
 
intermediate
 
holding
 
company
 
established
 
by
 
Barclays
 
in
 
July
 
2016,
 
which
 
holds
 
most
 
of
Barclays’
 
subsidiaries
 
and
 
assets
 
in
 
the
 
US.
'Internal
 
Model
 
Approach
 
(IMA)’
In
 
the
 
context
 
of
 
RWAs,
 
RWAs
 
for
 
which
 
the
 
exposure
 
amount
 
has
 
been
 
derived
 
via
 
the
 
use
 
of
 
a
PRA
 
approved
 
internal
 
market
 
risk
 
model.
'Internal
 
Model
 
Method
 
(IMM)’
In
 
the
 
context
 
of
 
RWAs,
 
RWAs
 
for
 
which
 
the
 
exposure
 
amount
 
has
 
been
 
derived
 
via
 
the
 
use
 
of
 
a
PRA
 
approved
 
internal
 
counterparty
 
credit
 
risk
 
model.
‘Identified
 
Impairment
 
(II)’
 
Specific
 
impairment
 
allowances
 
for
 
financial
 
assets,
 
individually
 
estimated.
‘IFRS
 
9
 
transitional
 
arrangements’
Following
 
the
 
application
 
of
 
IFRS
 
9
 
as
 
of
 
1
 
January
 
2018,
 
Article
 
473a
 
of
 
CRR
 
permits
 
institutions
to
 
phase-in
 
the
 
impact
 
on
 
capital
 
and
 
leverage
 
ratios
 
of
 
the
 
impairment
 
requirements
 
under
 
the
 
new
 
accounting
 
standard.
‘Impairment
 
Allowances’
 
A
 
provision
 
held
 
on
 
the
 
balance
 
sheet
 
as
 
a
 
result
 
of
 
the
 
raising
 
of
 
a
 
charge
 
against
 
profit
 
for
 
expected
losses
 
in
 
the
 
lending
 
book.
 
An
 
impairment
 
allowance
 
may
 
either
 
be
 
identified
 
or
 
unidentified
 
and
 
individual
 
or
 
collective.
 
‘Income’
 
Total
 
income,
 
unless
 
otherwise
 
specified.
 
‘Incremental
 
Risk
 
Charge
 
(IRC)’
An
 
estimate
 
of
 
the
 
incremental
 
risk
 
arising
 
from
 
rating
 
migrations
 
and
 
defaults
 
for
 
traded
 
debt
instruments
 
beyond
 
what
 
is
 
already
 
captured
 
in
 
specific
 
market
 
risk
 
VaR
 
for
 
the
 
non-correlation
 
trading
 
portfolio.
‘Independent
 
Validation
 
Unit
 
(IVU)’
The
 
function
 
within
 
the
 
bank
 
responsible
 
for
 
independent
 
review,
 
challenge
 
and
 
approval
 
of
 
all
models.
‘Individual
 
liquidity
 
guidance
 
(ILG)’
 
Guidance
 
given
 
to
 
a
 
bank
 
about
 
the
 
amount,
 
quality
 
and
 
funding
 
profile
 
of
 
liquidity
 
resources
that
 
the
 
PRA
 
has
 
asked
 
the
 
bank
 
to
 
maintain.
 
‘Inflation
 
risk’
 
In
 
the
 
context
 
of
 
DVaR,
 
the
 
impact
 
of
 
changes
 
in
 
inflation
 
rates
 
and
 
volatilities
 
on
 
cash
 
instrume
 
nts
 
and
 
derivatives.
 
‘Insurance
 
Risk’
The
 
risk
 
of
 
the
 
Barclays
 
Group’s
 
aggregate
 
insurance
 
premiums
 
received
 
from
 
policyholders
 
under
 
a
 
portfolio
 
of
insurance
 
contracts
 
being
 
inadequate
 
to
 
cover
 
the
 
claims
 
arising
 
from
 
those
 
policies.
‘Interchange’
 
Income
 
paid
 
to
 
a
 
credit
 
card
 
issuer
 
for
 
the
 
clearing
 
and
 
settlement
 
of
 
a
 
sale
 
or
 
cash
 
advance
 
transaction.
‘Interest
 
-only
 
home
 
loans’
Under
 
the
 
terms
 
of
 
these
 
loans,
 
the
 
customer
 
makes
 
payments
 
of
 
interest
 
only
 
for
 
the
 
entire
 
term
 
of
 
the
mortgage,
 
although
 
customers
 
may
 
make
 
early
 
repayments
 
of
 
the
 
principal
 
within
 
the
 
terms
 
of
 
their
 
agreement.
 
The
 
customer
 
is
responsible
 
for
 
repaying
 
the
 
entire
 
outstanding
 
principal
 
on
 
maturity,
 
which
 
may
 
require
 
the
 
sale
 
of
 
the
 
mortgaged
 
property.
‘Inter
 
est
 
rate
 
derivatives’
 
Derivatives
 
linked
 
to
 
interest
 
rates.
 
This
 
category
 
includes
 
interest
 
rate
 
swaps,
 
collars,
 
floors
 
options
 
and
swaptions.
 
An
 
interest
 
rate
 
swap
 
is
 
an
 
agreement
 
between
 
two
 
parties
 
to
 
exchange
 
fixed
 
rate
 
and
 
floating
 
rate
 
interest
 
by
 
means
 
of
periodic
 
payments
 
based
 
upon
 
a
 
notional
 
principal
 
amount
 
and
 
the
 
interest
 
rates
 
defined
 
in
 
the
 
contract.
 
Certain
 
agreements
combine
 
interest
 
rate
 
and
 
foreign
 
currency
 
swap
 
transactions,
 
which
 
may
 
or
 
may
 
not
 
include
 
the
 
exchange
 
of
 
principal
 
amounts.
 
A
basis
 
swap
 
is
 
a
 
form
 
of
 
interest
 
rate
 
swap,
 
in
 
which
 
both
 
parties
 
exchange
 
interest
 
payments
 
based
 
on
 
floating
 
rates,
 
where
 
the
floating
 
rates
 
are
 
based
 
upon
 
different
 
underlying
 
reference
 
indices.
 
In
 
a
 
forward
 
rate
 
agreement,
 
two
 
parties
 
agree
 
a
 
future
settlement
 
of
 
the
 
difference
 
between
 
an
 
agreed
 
rate
 
and
 
a
 
future
 
interest
 
rate,
 
applied
 
to
 
a
 
notional
 
principal
 
amount.
 
The
settlement,
 
which
 
generally
 
occurs
 
at
 
the
 
start
 
of
 
the
 
contract
 
period,
 
is
 
the
 
discounted
 
present
 
value
 
of
 
the
 
payment
 
that
 
would
otherwise
 
be
 
made
 
at
 
the
 
end
 
of
 
that
 
period.
 
 
q121ex991p1i0.jpg
Glossary
 
of
 
Terms
Barclays
 
PLC
50
‘Interest
 
rate
 
risk’
 
The
 
risk
 
of
 
interest
 
rate
 
volatility
 
adversely
 
impacting
 
the
 
Barclays
 
Group’s
 
Net
 
Interest
 
Margin.
 
In
 
the
 
context
 
of
the
 
calculation
 
of
 
market
 
risk
 
DVaR,
 
measures
 
the
 
impact
 
of
 
changes
 
in
 
interest
 
(swap)
 
rates
 
and
 
volatilities
 
on
 
cash
 
instruments
and
 
derivatives.
‘Interest
 
rate
 
risk
 
in
 
the
 
banking
 
book
 
(IRRBB)’
The
 
risk
 
that
 
the
 
Barclays
 
Group
 
is
 
exposed
 
to
 
capital
 
or
 
income
 
volatility
 
because
 
of
a
 
mismatch
 
between
 
the
 
interest
 
rate
 
exposures
 
of
 
its
 
(non-traded)
 
assets
 
and
 
liabilities.
‘Internal
 
Assessment
 
Approach
 
(IAA)’
One
 
of
 
three
 
types
 
of
 
calculation
 
that
 
a
 
bank
 
with
 
permission
 
to
 
use
 
the
 
Internal
 
Ratings
Based
 
(IRB)
 
approach
 
may
 
apply
 
to
 
securitisation
 
exposures.
 
It
 
consists
 
of
 
mapping
 
a
 
bank's
 
internal
 
rating
 
methodology
 
for
 
credi
 
t
exposures
 
to
 
those
 
of
 
an
 
External
 
Credit
 
Assessment
 
Institution
 
(ECAI)
 
to
 
determine
 
the
 
appropriate
 
risk
 
weight
 
based
 
on
 
the
ratings
 
based
 
approach.
 
Its
 
applicability
 
is
 
limited
 
to
 
ABCP
 
programmes
 
related
 
to
 
liquidity
 
facilities
 
and
 
credit
 
enhancement.
‘Internal
 
Capital
 
Adequacy
 
Assessment
 
Process
 
(ICAAP)’
It
 
describes
 
how
 
the
 
Group
 
identifies,
 
manages
 
and
 
qualifies
 
the
 
risks
 
it
 
is
exposed
 
to,
 
in
 
pursuit
 
of
 
its
 
business
 
strategy.
 
It
 
assesses
 
whether
 
the
 
quality
 
and
 
quantity
 
of
 
capital
 
is
 
available
 
to
 
abso
 
rb
 
capital
losses
 
for
 
the
 
risks
 
the
 
firm
 
undertakes.
 
The
 
capital
 
adequacy
 
is
 
assessed
 
on
 
a
 
point
 
of
 
time
 
basis
 
and
 
on
 
a
 
forward
 
looking
 
basis
taking
 
into
 
account
 
baseline
 
and
 
stressed
 
economic
 
capital
 
conditions.
 
‘Internal
 
Ratings
 
Based
 
(IRB)’
 
An
 
approach
 
under
 
the
 
CRR
 
framework
 
that
 
relies
 
on
 
the
 
bank’s
 
internal
 
models
 
to
 
derive
 
the
 
risk
weights.
 
The
 
IRB
 
approach
 
is
 
divided
 
into
 
two
 
alternative
 
applications,
 
Advanced
 
and
 
Foundation:
 
–
Advanced
 
IRB
 
(A-IRB):
 
the
 
bank
 
uses
 
its
 
own
 
estimates
 
of
 
Pro
 
bability
 
of
 
Default
 
(PD),
 
Loss
 
Given
 
Default
 
(LGD)
 
and
 
credit
conversion
 
factor
 
to
 
model
 
a
 
given
 
risk
 
exposure.
 
–
Foundation
 
IRB
 
(F-IRB):
 
the
 
bank
 
applies
 
its
 
own
 
PD
 
as
 
for
 
Advanced,
 
but
 
it
 
uses
 
standard
 
parameters
 
for
 
the
 
LGD
 
and
 
the
credit
 
conversion
 
fact
 
or.
 
The
 
Foundation
 
IRB
 
approach
 
is
 
specifically
 
designed
 
for
 
wholesale
 
credit
 
exposures.
 
Hence
retail,
 
equity,
 
securitisation
 
positions
 
and
 
non-credit
 
obligations
 
asset
 
exposures
 
are
 
treated
 
under
 
standardised
 
or
 
A-IRB.
 
‘Internal
 
Ratings
 
Based
 
approach
 
(SEC
 
-IRBA)’
This
 
is
 
a
method
 
to
 
calculate
 
risk-weighted
 
exposure
 
amounts
 
for
 
securitisation
positions.
 
Under
 
this
 
method,
 
an
 
institution
 
must
 
be
 
able
 
to
 
model
 
regulatory
 
capital
 
requirements
 
for
 
underlying
 
exposures
 
in
 
the
securitisation
 
as
 
if
 
these
 
had
 
not
 
been
 
securitised
 
(‘K
IRB
’),
 
subject
 
to
 
certain
 
other
 
inputs
 
and
 
criteria.
‘Investment
 
Bank’
The
 
Barclays
 
Group’s
 
investment
 
bank
 
which
consists
 
of
 
origination
 
led
 
and
 
returns
 
focused
 
markets
 
and
 
banking
business,
 
and
 
which
 
forms
 
part
 
of
 
the
 
Corporate
 
and
 
Investment
 
Bank
 
segment
 
of
 
Barclays
 
International
 
.
 
‘Investment
 
Banking
 
Fees’
 
In
 
the
 
context
 
of
 
Investment
 
Bank
 
analysis
 
of
 
Total
 
Income,
 
fees
 
generated
 
from
 
origination
 
activity
businesses
 
–
 
including
 
financial
 
advisory,
 
debt
 
and
 
equity
 
underwriting.
 
‘Investment
 
grade’
 
A
 
debt
 
security,
 
treasury
 
bill
 
or
 
similar
 
instrument
 
with
 
a
 
credit
 
rating
 
of
 
AAA
 
to
 
BBB
 
as
 
measured
 
by
 
external
credit
 
rating
 
agencies.
 
‘ISDA
 
Master
 
Agreement’
 
The
 
most
 
commonly
 
used
 
master
 
contract
 
for
 
OTC
 
derivative
 
transactions
 
internationally.
 
It
 
is
 
part
 
of
 
a
framework
 
of
 
documents,
 
designed
 
to
 
enable
 
OTC
 
derivatives
 
to
 
be
 
documented
 
fully
 
and
 
flexibly.
 
The
 
framework
 
consists
 
of
 
a
master
 
agreement,
 
a
 
schedule,
 
confirmations,
 
definitions
 
booklets,
 
and
 
a
 
credit
 
support
 
annex.
 
The
 
ISDA
 
Master
 
Agreement
 
is
published
 
by
 
the
 
International
 
Swaps
 
and
 
Derivatives
 
Association,
 
commonly
 
known
 
as
 
“ISDA”.
 
‘Key
 
Risk
 
Scenarios
 
(KRS)’
Key
 
Risk
 
Scenarios
 
are
 
a
 
summary
 
of
 
the
 
extreme
 
potential
 
risk
 
exposure
 
for
 
each
 
Key
 
Risk
 
in
 
each
business
 
and
 
function,
 
including
 
an
 
assessment
 
of
 
the
 
potential
 
frequency
 
of
 
risk
 
events,
 
the
 
aver
 
age
 
size
 
of
 
losses
 
and
 
three
extreme
 
scenarios.
 
The
 
Key
 
Risk
 
Scenario
 
assessments
 
are
 
a
 
key
 
input
 
to
 
the
 
Advanced
 
Measurement
 
Approach
 
calculation
 
of
regulatory
 
and
 
economic
 
capital
 
requirements.
‘Large
 
exposure’
A
 
large
 
exposure
 
is
 
defined
 
as
 
the
 
total
 
ex
 
posure
 
of
 
a
 
bank
 
to
 
a
 
counterparty
 
or
 
group
 
of
 
connected
 
clients,
whether
 
in
 
the
 
banking
 
book
 
or
 
trading
 
book
 
or
 
both,
 
which
 
in
 
aggregate
 
equals
 
or
 
exceeds
 
10%
 
of
 
the
 
bank's
 
eligible
 
capital.
‘Legal
 
risk’
 
The
 
risk
 
of
 
loss
 
or
 
imposition
 
of
 
penalties,
 
damages
 
or
 
fines
 
from
 
the
 
failure
 
of
 
the
 
Barclays
 
Group
 
to
 
meet
 
its
 
legal
obligations
 
including
 
regulatory
 
or
 
contractual
 
requirements.
‘Lending’
In
 
the
 
context
 
of
 
Investment
 
Bank
 
analysis
 
of
 
Total
 
Income,
 
lending
 
income
 
includes
 
Net
 
Interest
 
Income
 
(NII),
 
gains
 
or
losses
 
on
 
loan
 
sale
 
activity,
 
and
 
risk
 
management
 
activity
 
relating
 
to
 
the
 
loan
 
portfolio.
 
 
q121ex991p1i0.jpg
Glossary
 
of
 
Terms
Barclays
 
PLC
51
‘Letters
 
of
 
credit’
 
A
 
letter
 
typically
 
used
 
for
 
the
 
purposes
 
of
 
international
 
trade
 
guaranteeing
 
that
 
a
 
debtor’s
 
payment
 
to
 
a
 
creditor
will
 
be
 
made
 
on
 
time
 
and
 
in
 
full.
 
In
 
the
 
event
 
that
 
the
 
debtor
 
is
 
unable
 
to
 
make
 
payment,
 
the
 
bank
 
will
 
be
 
required
 
to
 
cover
 
the
 
full
or
 
remaining
 
amount
 
of
 
the
 
purchase.
‘Level
 
1
 
assets’
High
 
quality
 
liquid
 
assets
 
under
 
the
 
Basel
 
Committee’s
 
Liquidity
 
Coverage
 
Ratio
 
(LCR),
 
including
 
cash,
 
central
 
bank
reserves
 
and
 
higher
 
quality
 
government
 
securities.
‘Level
 
2
 
assets’
 
High
 
quality
 
liquid
 
assets
 
under
 
the
 
Basel
 
Committee’s
 
Liquidity
 
Coverage
 
Ratio
 
(LCR),
 
Level
 
2A
 
assets,
 
including,
 
e.g.
lower
 
quality
 
government
 
securities,
 
co
 
vered
 
bonds
 
and
 
corporate
 
debt
 
securities,
 
and
 
Level
 
2B
 
assets,
 
including,
 
e.g.
 
lower
 
rated
corporate
 
bonds,
 
residential
 
mortgage
 
backed
 
securities
 
and
 
equities
 
that
 
meet
 
certain
 
conditions.
‘Lifetime
 
expected
 
credit
 
losses’
 
An
 
assessment
 
of
 
expected
 
losse
 
s
 
associated
 
with
 
default
 
events
 
that
 
may
 
occur
 
during
 
the
 
life
 
of
an
 
exposure,
 
reflecting
 
the
 
present
 
value
 
of
 
cash
 
shortfalls
 
over
 
the
 
remaining
 
expected
 
life
 
of
 
the
 
asset.
‘Lifetime
 
Probability’
 
The
 
likelihood
 
of
 
accounts
 
entering
 
default
 
during
 
the
 
exp
 
ected
 
remaining
 
life
 
of
 
the
 
asset.
‘Liquidity
 
Coverage
 
Ratio
 
(LCR)’
 
The
 
ratio
 
of
 
the
 
stock
 
of
 
high
 
quality
 
liquid
 
assets
 
to
 
expected
 
net
 
cash
 
outflows
 
over
 
the
 
next
 
30
days.
 
High-
 
quality
 
liquid
 
assets
 
should
 
be
 
unencumbered,
 
liquid
 
in
 
markets
 
during
 
a
 
time
 
of
 
stress
 
and,
 
ideally,
 
be
 
central
 
bank
eligible.
 
These
 
include,
 
e.g.
 
cash
 
and
 
claims
 
on
 
central
 
governments
 
and
 
central
 
banks.
 
‘Liquidity
 
Pool’
 
The
 
Barclays
 
Group
 
liquidity
 
pool
 
comprises
 
cash
 
at
 
central
 
banks
 
and
 
highly
 
liquid
 
collateral
 
specifically
 
held
 
by
 
the
Barclays
 
Group
 
as
 
a
 
contingency
 
to
 
enable
 
the
 
bank
 
to
 
meet
 
cash
 
outflows
 
in
 
the
 
event
 
of
 
stressed
 
market
 
conditions.
 
‘Liquidity
 
Risk’
The
 
risk
 
that
 
the
 
Barclays
 
Group
 
is
 
unable
 
to
 
meet
 
its
 
contractual
 
or
 
contingent
 
obligations
 
or
 
that
 
it
 
does
 
not
 
have
the
 
appropriate
 
amount,
 
tenor
 
and
 
composition
 
of
 
funding
 
and
 
liquidity
 
to
 
support
 
its
 
assets.
‘Liquidity
 
risk
 
appetite
 
(LRA)’
 
The
 
level
 
of
 
liquidity
 
risk
 
that
 
the
 
Barclays
 
Group
 
chooses
 
to
 
take
 
in
 
pursuit
 
of
 
its
 
business
 
objectives
and
 
in
 
meeting
 
its
 
regulatory
 
obligations.
‘Liquidity
 
Risk
 
Management
 
Framework
 
(the
 
Liquidity
 
Framework)’
The
 
Liquidity
 
Risk
 
Management
 
Framework,
 
which
 
is
 
sanctioned
by
 
the
 
Board
 
Risk
 
Committee,
 
incorporates
 
liquidity
 
policies,
 
systems
 
and
 
controls
 
that
 
the
 
Barclays
 
Group
 
has
 
implemented
 
to
manage
 
liquidity
 
risk
 
within
 
tolerances
 
approved
 
by
 
the
 
Board
 
and
 
regulatory
 
agencies.
‘Litigation
 
and
 
conduct
 
charges’
 
or
 
‘Litigation
 
and
 
conduct’
Litigation
 
and
 
conduct
 
charges
 
include
 
regulatory
 
fines,
 
litigation
settlements
 
and
 
conduct
 
-related
 
customer
 
redress.
‘Loan
 
loss
 
rate’
 
Quoted
 
in
 
basis
 
points
 
and
 
represents
 
total
 
impairment
 
charges
 
divided
 
by
 
gross
 
loans
 
and
 
advances
 
held
 
at
amortised
 
cost
 
at
 
the
 
balance
 
sheet
 
date.
‘Loan
 
to
 
deposit
 
ratio’
 
or
 
‘Loan:
 
deposit
 
ratio’
 
Loans
 
and
 
advances
 
at
 
amortised
 
costs
 
divided
 
by
 
deposits
 
at
 
amortised
 
cost.
‘Loan
 
to
 
value
 
(LTV)
 
ratio’
 
Expresses
 
the
 
amount
 
borrowed
 
against
 
an
 
asset
 
(i.e.
 
a
 
mortgage)
 
as
 
a
 
percentage
 
of
 
the
 
appraised
 
value
of
 
the
 
asset.
 
The
 
ratios
 
are
 
used
 
in
 
determining
 
the
 
appropriate
 
level
 
of
 
risk
 
for
 
the
 
loan
 
and
 
are
 
generally
 
reported
 
as
 
an
 
average
for
 
new
 
mortgages
 
or
 
an
 
entire
 
portfolio.
 
Also
 
see
 
‘Marked
 
to
 
market
 
(MTM)
 
LTV
 
ratio’.
 
‘London
 
Interbank
 
Offered
 
Rate
 
(LIBOR)’
 
A
 
benchmark
 
interest
 
rate
 
at
 
which
 
banks
 
can
 
borrow
 
funds
 
from
 
other
 
banks
 
in
 
the
London
 
interbank
 
market.
 
‘Loss
 
Given
 
Default
 
(LGD)’
 
The
 
percent
 
age
 
of
 
Exposure
 
at
 
Default
 
(EAD)
 
that
 
will
 
not
 
be
 
recovered
 
following
 
default.
 
LGD
 
comprises
the
 
actual
 
loss
 
(the
 
part
 
that
 
is
 
not
 
expected
 
to
 
be
 
recovered),
 
together
 
with
 
the
 
economic
 
costs
 
associated
 
with
 
the
 
recovery
process.
 
‘Management
 
VaR’
 
A
 
measure
 
of
 
the
 
potential
 
loss
 
of
 
value
 
arising
 
from
 
unfavourable
 
market
 
movements
 
at
 
a
 
specific
 
confidence
level,
 
if
 
current
 
positions
 
were
 
to
 
be
 
held
 
unchanged
 
for
 
predefined
 
period.
 
Corporate
 
and
 
Investment
 
Bank
 
uses
 
Management
 
VaR
with
 
a
 
two
 
-year
 
equally
 
weighted
 
historical
 
period,
 
at
 
a
 
95%
 
confidence
 
level,
 
with
 
a
 
one
 
day
 
holding
 
period.
 
‘Mandatory
 
break
 
clause’
In
 
the
 
context
 
of
 
counterparty
 
credit
 
risk,
 
a
 
contract
 
clause
 
that
 
means
 
a
 
trade
 
will
 
be
 
ended
 
on
 
a
particular
 
date.
 
 
q121ex991p1i0.jpg
Glossary
 
of
 
Terms
Barclays
 
PLC
52
‘Marked
 
to
 
market
 
approach’
 
A
 
co
 
unterparty
 
credit
 
risk
 
exposure
 
calculation
 
approach
 
which
 
uses
 
the
 
current
 
marked
 
to
 
market
value
 
of
 
derivative
 
positions
 
as
 
well
 
as
 
a
 
potential
 
future
 
exposure
 
add-on
 
to
 
calculate
 
an
 
exposure
 
to
 
which
 
a
 
risk
 
weight
 
can
 
be
applied.
 
This
 
is
 
also
 
known
 
as
 
t
 
he
 
Current
 
Exposure
 
Method.
‘Marked
 
to
 
market
 
(MTM)
 
LTV
 
ratio’
 
The
 
loan
 
amount
 
as
 
a
 
percentage
 
of
 
the
 
current
 
value
 
of
 
the
 
asset
 
used
 
to
 
secure
 
the
 
loan.
Also
 
see
 
‘Balance
 
weighted
 
Loan
 
to
 
Value
 
(LTV)
 
ratio’
 
and
 
‘Valuation
 
weighted
 
Loan
 
to
 
Value
 
(LTV)
 
rati
 
o.’
‘Market
 
risk’
 
The
 
risk
 
of
 
loss
 
arising
 
from
 
potential
 
adverse
 
changes
 
in
 
the
 
value
 
of
 
the
 
Barclays
 
Group’s
 
assets
 
and
 
liabilities
 
from
fluctuation
 
in
 
market
 
variables
 
including,
 
but
 
not
 
limited
 
to,
 
interest
 
rates,
 
foreign
 
exchange,
 
equity
 
prices,
 
commo
 
dity
 
prices,
credit
 
spreads,
 
implied
 
volatilities
 
and
 
asset
 
correlations.
 
‘Master
 
netting
 
agreement’
 
An
 
agreement
 
that
 
provides
 
for
 
a
 
single
 
net
 
settlement
 
of
 
all
 
financial
 
instruments
 
and
 
collateral
covered
 
by
 
the
 
agreement
 
in
 
the
 
event
 
of
 
the
 
counterpar
 
ty’s
 
default
 
or
 
bankruptcy
 
or
 
insolvency,
 
resulting
 
in
 
a
 
reduced
 
exposure.
‘Master
 
trust
 
securitisation
 
programme’
 
A
 
securitisation
 
structure
 
where
 
a
 
trust
 
is
 
set
 
up
 
for
 
the
 
purpose
 
of
 
acquiring
 
a
 
pool
 
of
receivables.
 
The
 
trust
 
issues
 
multiple
 
series
 
of
 
securities
 
backed
 
by
 
these
 
receivables.
‘Material
 
Risk
 
Takers
 
(MRTs)’
Categories
 
of
 
staff
 
whose
 
professional
 
activities
 
have
 
or
 
are
 
deemed
 
to
 
have
 
a
 
material
 
impact
 
on
Barclays’
 
risk
 
profile,
 
as
 
determined
 
in
 
accordance
 
with
 
the
 
European
 
Banking
 
Authority
 
regulatory
 
technical
 
standard
 
on
 
the
identification
 
of
 
such
 
staff.
‘Maximum
 
Distributable
 
Amount
 
(MDA)’
The
 
MDA
 
is
 
a
 
factor
 
representing
 
the
 
available
 
distributable
 
profit
 
whilst
 
remaining
 
in
excess
 
of
 
its
 
combined
 
buffer
 
requirement.
 
CRD
 
IV
 
places
 
restrictions
 
on
 
a
 
bank’s
 
dividend
 
decisions
 
depending
 
on
 
its
 
proximity
 
to
meeting
 
the
 
buffer.
‘Medium-Term
 
Notes’
 
Corporate
 
notes
 
(or
 
debt
 
securities)
 
continuously
 
offered
 
by
 
a
 
company
 
to
 
investors
 
through
 
a
 
dealer.
Investors
 
can
 
choose
 
from
 
differing
 
maturities,
 
ranging
 
from
 
nine
 
months
 
to
 
30
 
years.
 
They
 
can
 
be
 
issued
 
on
 
a
 
fixed
 
or
 
floating
coupon
 
basis
 
or
 
with
 
an
 
exotic
 
coupon;
 
with
 
a
 
fixed
 
maturity
 
date
 
(non-callable)
 
or
 
with
 
embedded
 
call
 
or
 
put
 
options
 
or
 
early
repayment
 
triggers.
 
MTNs
 
are
 
most
 
general
 
ly
 
issued
 
as
 
senior,
 
unsecured
 
debt.
‘Methodology
 
and
 
policy’
In
 
the
 
context
 
of
 
the
 
Capital
 
Risk
 
section
 
of
 
the
 
Barclays
 
PLC
 
Annual
 
Report,
 
the
 
effect
 
on
 
RWAs
 
of
methodology
 
changes
 
driven
 
by
 
regulatory
 
policy
 
changes.
 
‘MiFID
 
II’
The
 
Markets
 
in
 
Financial
 
Instruments
 
Directive
 
2004/39/EC
 
(known
 
as
 
"MiFID
 
I”)
 
as
 
subsequently
 
amended
 
to
 
MiFID
 
II
 
is
 
a
European
 
Union
 
law
 
that
 
provides
 
harmonised
 
regulation
 
for
 
investment
 
services
 
across
 
the
 
member
 
states
 
of
 
the
 
European
Economic
 
Area.
‘Minimum
 
require
 
ment
 
for
 
own
 
funds
 
and
 
eligible
 
liabilities
 
(MREL)’
A
 
European
 
Union
 
wide
 
requirement
 
under
 
the
 
Bank
 
Recovery
and
 
Resolution
 
Directive
 
for
 
all
 
European
 
banks
 
and
 
investment
 
banks
 
to
 
hold
 
a
 
minimum
 
level
 
of
 
equity
 
and/or
 
loss
 
absorbing
eligible
 
liabilities
 
to
 
ensure
 
the
 
operation
 
of
 
the
 
bail-in
 
tool
 
to
 
absorb
 
losses
 
and
 
recapitalise
 
an
 
institution
 
in
 
resolution.
 
An
institution’s
 
MREL
 
requirement
 
is
 
set
 
by
 
its
 
resolution
 
authority.
 
Amendments
 
in
 
the
 
EU
 
Risk
 
Reduction
 
Measure
 
package
 
are
designed
 
to
 
align
 
MREL
 
and
 
TLAC
 
for
 
EU
 
G-SIBs.
‘Model
 
risk’
The
 
risk
 
of
 
the
 
potential
 
adverse
 
consequences
 
from
 
financial
 
assessments
 
or
 
decisions
 
based
 
on
 
incorrect
 
or
 
misused
model
 
outputs
 
and
 
reports.
 
‘Model
 
updates’
In
 
the
 
context
 
of
 
the
 
Capital
 
Risk
 
section
 
of
 
the
 
Barclays
 
PLC
 
Annual
 
Report,
 
changes
 
in
 
RWAs
 
caused
 
by
 
model
implementation,
 
changes
 
in
 
model
 
scope
 
or
 
any
 
changes
 
required
 
to
 
address
 
model
 
malfunctions.
 
‘Model
 
validation’
Process
 
through
 
which
 
models
 
are
 
independently
 
challenged,
 
tested
 
and
 
verified
 
to
 
prove
 
that
 
they
 
have
 
been
built,
 
implemented
 
and
 
used
 
correctly,
 
and
 
that
 
they
 
continue
 
to
 
be
 
fit-for
 
-purpose.
‘ModelledVaR’
 
In
 
the
 
context
 
of
 
RWAs,
 
market
 
risk
 
calculated
 
using
 
Value
 
at
 
Risk
 
models
 
laid
 
down
 
by
 
the
 
CRR
 
and
 
supervised
 
by
the
 
PRA.
 
‘Money
 
market
 
funds’
 
Investment
 
funds
 
typically
 
invested
 
in
 
short-term
 
debt
 
securities.
 
‘Monoline
 
derivatives’
 
Derivatives
 
with
 
a
 
monoline
 
insurer
 
such
 
as
 
credit
 
default
 
swaps
 
referencing
 
the
 
underlying
 
exposures
 
held.
 
 
q121ex991p1i0.jpg
Glossary
 
of
 
Terms
Barclays
 
PLC
53
‘Moody’s’
 
A
 
credit
 
rating
 
agency.
 
‘Mortgage
 
Servicing
 
Rights
 
(MSR)’
A
 
contractual
 
agreement
 
in
 
which
 
the
 
right
 
to
 
service
 
an
 
existing
 
mortgage
 
is
 
sold
 
by
 
the
 
original
lender
 
to
 
another
 
party
 
that
 
specialises
 
in
 
the
 
various
 
functions
 
involved
 
with
 
servicing
 
mortgages.
‘Multilateral
 
development
 
banks’
 
Financial
 
institutions
 
created
 
for
 
the
 
purposes
 
of
 
development,
 
where
 
membership
 
transcends
national
 
boundaries.
‘National
 
discretion’
 
Discretions
 
in
 
CRD
 
given
 
to
 
member
 
states
 
to
 
allow
 
the
 
local
 
regulator
 
additional
 
powers
 
in
 
the
 
application
 
of
certain
 
CRD
 
rules
 
in
 
its
 
jurisdiction.
 
‘Net
 
asset
 
value
 
per
 
share’
 
Calculated
 
by
 
dividing
 
shareholders’
 
equity,
 
excluding
 
non-contr
 
olling
 
interests
 
and
 
other
 
equity
instruments,
 
by
 
the
 
number
 
of
 
issued
 
ordinary
 
shares.
 
‘Net
 
Interest
 
Income
 
(NII)’
 
The
 
difference
 
between
 
interest
 
income
 
on
 
assets
 
and
 
interest
 
expense
 
on
 
liabilities.
 
‘Net
 
Interest
 
Margin
 
(NIM)’
 
Net
 
interest
 
Income
 
(NII)
 
divided
 
by
 
the
 
sum
 
of
 
average
 
customer
 
assets.
‘Net
 
investment
 
income’
 
Changes
 
in
 
the
 
fair
 
value
 
of
 
financial
 
instruments
 
designated
 
at
 
fair
 
value,
 
dividend
 
income
 
and
 
the
 
net
result
 
on
 
disposal
 
of
 
available
 
for
 
sale
 
assets.
 
‘Net
 
Stable
 
Funding
 
Ratio
 
(NSFR)’
 
The
 
ratio
 
of
 
available
 
stable
 
funding
 
to
 
required
 
stable
 
funding
 
over
 
a
 
one-year
 
time
 
horizon,
assuming
 
a
 
stressed
 
scenario.
 
The
 
ratio
 
is
 
required
 
to
 
be
 
over
 
100%.
 
Available
 
stable
 
funding
 
would
 
include
 
such
 
items
 
as
 
equity
capital,
 
preferred
 
stock
 
with
 
a
 
maturity
 
of
 
over
 
one
 
year,
 
or
 
liabilities
 
with
 
a
 
maturity
 
of
 
over
 
one
 
year.
 
The
 
required
 
amount
 
of
stable
 
funding
 
is
 
calculated
 
as
 
the
 
sum
 
of
 
the
 
value
 
of
 
the
 
assets
 
held
 
and
 
funded
 
by
 
the
 
institution,
 
multiplied
 
by
 
a
 
specific
required
 
stable
 
funding
 
fact
 
or
 
assigned
 
to
 
each
 
particular
 
asset
 
type,
 
added
 
to
 
the
 
amount
 
of
 
potential
 
liquidity
 
exposure
multiplied
 
by
 
its
 
associated
 
required
 
stable
 
funding
 
factor.
 
‘Net
 
trading
 
income’
 
Gains
 
and
 
losses
 
arising
 
from
 
trading
 
positions
 
which
 
are
 
held
 
at
 
fair
 
value,
 
in
 
respect
 
of
 
both
 
market
 
-making
and
 
customer
 
business,
 
together
 
with
 
interest,
 
dividends
 
and
 
funding
 
costs
 
relating
 
to
 
trading
 
activities.
‘Net
 
write-off
 
rate’
 
Expressed
 
as
 
a
 
percentage
 
and
 
represents
 
balances
 
written
 
off
 
in
 
the
 
reporting
 
period
 
less
 
any
 
post
 
write-off
recoveries
 
divided
 
by
 
gross
 
loans
 
and
 
advances
 
held
 
at
 
amortised
 
cost
 
at
 
the
 
balance
 
sheet
 
date.
‘Net
 
written
 
credit
 
protection’
 
In
 
the
 
context
 
of
 
leverage
 
exposure,
 
the
 
net
 
notional
 
value
 
of
 
credit
 
derivatives
 
protection
 
sold
 
and
credit
 
derivatives
 
protection
 
bought.
 
‘New
 
bookings’
The
 
total
 
of
 
the
 
original
 
balance
 
on
 
accounts
 
opened
 
in
 
the
 
reporting
 
period,
 
including
 
any
 
applicable
 
fees
 
and
charges
 
included
 
in
 
the
 
loan
 
amount.
‘Non-asset
 
backed
 
debt
 
instruments’
 
Debt
 
instruments
 
not
 
backed
 
by
 
collateral,
 
including
 
government
 
bonds;
 
US
 
agency
 
bonds;
corporate
 
bonds;
 
commercial
 
paper;
 
certificates
 
of
 
deposit;
 
convertible
 
bonds;
 
corporate
 
bonds
 
and
 
issued
 
notes.
 
‘Non-Model
 
Method
 
(NMM)’
 
In
 
the
 
context
 
of
 
RWAs,
 
counterparty
 
credit
 
risk,
 
RWAs
 
where
 
the
 
exposure
 
amount
 
has
 
been
 
derived
through
 
the
 
use
 
of
 
CRR
 
norms,
 
as
 
opposed
 
to
 
an
 
internal
 
model.
 
‘Non-Traded
 
Market
 
Risk’
The
 
risk
 
that
 
the
 
current
 
or
 
future
 
exposure
 
in
 
the
 
banking
 
book
 
(i.e.
 
non-traded
 
book)
 
will
 
impact
 
the
bank's
 
capital
 
and/or
 
earnings
 
due
 
to
 
adverse
 
movements
 
in
 
Interest
 
or
 
foreign
 
exchange
 
rates.
‘Non-Traded
 
VaR’
Reflects
 
the
 
volatility
 
in
 
the
 
value
 
of
 
the
 
fair
 
value
 
through
 
other
 
comprehensive
 
income
 
(FVOCI)
 
investments
 
in
the
 
liquidity
 
pool
 
which
 
flow
 
directly
 
through
 
capital
 
via
 
the
 
FVOCI
 
reserve.
 
The
 
underlying
 
methodology
 
to
 
calculate
 
non-traded
VaR
 
is
 
similar
 
to
 
Traded
 
Management
 
VaR,
 
but
 
the
 
two
 
measures
 
are
 
not
 
directly
 
comparable.
 
The
 
Non-Traded
 
VaR
 
represents
 
the
volatility
 
to
 
capital
 
driven
 
by
 
the
 
FVOCI
 
exposures.
 
These
 
exposures
 
are
 
in
 
the
 
banking
 
book
 
and
 
do
 
not
 
meet
 
the
 
criteria
 
for
 
trading
book
 
treatment.
‘Notch’
 
A
 
single
 
unit
 
of
 
measurement
 
in
 
a
 
credit
 
rating
 
scale.
 
 
 
q121ex991p1i0.jpg
Glossary
 
of
 
Terms
Barclays
 
PLC
54
‘Notional
 
amount’
The
 
nominal
 
or
 
face
 
amount
 
of
 
a
 
financial
 
instrument,
 
such
 
as
 
a
 
loan
 
or
 
a
 
derivative,
 
that
 
is
 
used
 
to
 
calculate
payments
 
made
 
on
 
that
 
instrument.
‘Open
 
Banking’
The
 
Payment
 
Services
 
Directive
 
(PSD2)
 
and
 
the
 
Open
 
API
 
standards
 
and
 
data
 
sharing
 
remedy
 
imposed
 
by
 
the
 
UK
Competition
 
and
 
Markets
 
Authority
 
following
 
its
 
Retail
 
Banking
 
Market
 
Investigation
 
Order.
‘Operating
 
leverage’
 
Operating
 
expenses
 
compared
 
to
 
total
 
income
 
less
 
credit
 
impairment
 
charges
 
and
 
other
 
provisions.
 
‘Operational
 
risk’
 
The
 
risk
 
of
 
loss
 
to
 
the
 
bank
 
from
 
inadequate
 
or
 
failed
 
processes
 
or
 
systems,
 
human
 
factors
 
or
 
due
 
to
 
external
events
 
(e.g.
 
fraud)
 
where
 
the
 
root
 
cause
 
is
 
not
 
due
 
to
 
credit
 
or
 
market
 
risks.
‘Operational
 
Riskdata
 
eXchange
 
Association
 
(ORX)’
 
The
 
Operational
 
Riskdata
 
eXchange
 
Association
 
(ORX)
 
is
 
a
 
not-for
 
-profit
 
industry
association
 
dedicated
 
to
 
advancing
 
the
 
measurement
 
and
 
management
 
of
 
operational
 
risk
 
in
 
the
 
global
 
financial
 
services
 
industry.
 
Barclays
 
is
 
a
 
member
 
of
 
ORX.
‘Origination
 
led’
 
Focus
 
on
 
high
 
margin,
 
low
 
capital
 
fee
 
based
 
activities
 
and
 
related
 
hedging
 
opportunities.
 
‘Other
 
systemically
 
important
 
institutions
 
(OSII)’
Other
 
systemically
 
important
 
institutions
 
are
 
institutions
 
that
 
are
 
deemed
 
to
create
 
risk
 
to
 
financial
 
stability
 
due
 
to
 
their
 
systemic
 
importance.
‘Over
 
-the-counter
 
(OTC)
 
derivatives’
 
Derivative
 
contracts
 
that
 
are
 
traded
 
(and
 
privately
 
negotiated)
 
directly
 
between
 
two
 
parties.
They
 
offer
 
flexibility
 
because,
 
unlike
 
standardised
 
exchange
 
-traded
 
products,
 
they
 
can
 
be
 
tailored
 
to
 
fit
 
specific
 
needs.
‘Overall
 
capital
 
requirement’
The
 
overall
 
capital
 
requirement
 
is
 
the
 
sum
 
of
 
capital
 
required
 
to
 
meet
 
the
 
total
 
of
 
a
 
Pillar
 
1
requirement,
 
a
 
Pillar
 
2A
 
requirement,
 
a
 
Global
 
Systemically
 
Important
 
Institution
 
(G-
 
SII)
 
buffer,
 
a
 
Capital
 
Conservation
 
Buffer
 
(CCB)
and
 
a
 
Countercyclical
 
Capital
 
Buffer
 
(CCyB).
‘Own
 
credit’
 
The
 
effect
 
of
 
changes
 
in
 
the
 
Barclays
 
Group’s
 
own
 
credit
 
standing
 
on
 
the
 
fair
 
value
 
of
 
financial
 
liabilities.
 
‘Owner
 
occupied
 
mortgag
 
e’
A
 
mortgage
 
where
 
the
 
intention
 
of
 
the
 
customer
 
was
 
to
 
occupy
 
the
 
property
 
at
 
origination.
‘Own
 
funds’
The
 
sum
 
of
 
Tier
 
1
 
and
 
Tier
 
2
 
capital.
‘Own
 
funds
 
and
 
eligible
 
liabilities
 
ratio’
 
A
 
risk-based
 
ratio
 
representing
 
the
 
own
 
funds
 
and
 
eligible
 
liabilities
 
of
 
the
 
institution
expressed
 
as
 
a
 
percentage
 
of
 
total
 
RWAs.
‘Past
 
due
 
items’
Refers
 
to
 
loans
 
where
 
the
 
borrower
 
has
 
failed
 
to
 
make
 
a
 
payment
 
when
 
due
 
under
 
the
 
terms
 
of
 
the
 
loan
 
contract.
‘Payment
 
Protection
 
Insurance
 
(PPI)
 
redress’
 
Provision
 
for
 
the
 
settlement
 
of
 
PPI
 
mis-selling
 
claims
 
and
 
related
 
claims
 
management
costs.
‘Pension
 
Risk’
The
 
risk
 
of
 
the
 
Barclays
 
Group’s
 
earnings
 
and
 
capital
 
being
 
adversely
 
impacted
 
by
 
the
 
Barclays
 
Group’s
 
defined
benefit
 
obligations
 
increasing
 
or
 
the
 
value
 
of
 
the
 
assets
 
backing
 
these
 
defined
 
benefit
 
obligations
 
decreasing
 
due
 
to
 
changes
 
in
 
both
the
 
level
 
and
 
volatility
 
of
 
prices.
‘Performance
 
costs’
 
The
 
accounting
 
charge
 
recognised
 
in
 
the
 
period
 
for
 
performance
 
awards.
 
For
 
deferred
 
incentives
 
and
 
long-
term
 
incentives,
 
the
 
accounting
 
charge
 
is
 
spread
 
over
 
the
 
relevant
 
periods
 
in
 
which
 
the
 
employee
 
delivers
 
service.
 
‘Personal
 
Banking’
offers
 
retail
 
solutions
 
to
 
help
 
customers
 
with
 
their
 
day
 
-to-day
 
banking
 
needs.
 
‘Period
 
end
 
allocated
 
tangible
 
equity’
 
Allocated
 
tangible
 
equity
 
is
 
calculated
 
as
 
13.0%
 
(2019:
 
13.0%)
 
of
 
RWAs
 
for
 
each
 
business,
adjusted
 
for
 
capital
 
deductions,
 
excluding
 
goodwill
 
and
 
intangible
 
assets,
 
reflecting
 
assumptions
 
the
 
Barclays
 
Group
 
uses
 
for
 
capital
planning
 
purposes.
 
Head
 
Office
 
allocated
 
tangible
 
equity
 
represents
 
the
 
difference
 
between
 
the
 
Barclays
 
Group’s
 
tangible
shareholders’
 
equity
 
and
 
the
 
amounts
 
allocated
 
to
 
businesses.
 
‘Pillar
 
1
 
requirements’
The
 
minimum
 
regulatory
 
capital
 
requirements
 
to
 
meet
 
the
 
sum
 
of
 
credit
 
(including
 
counterparty
 
credit),
market
 
risk
 
and
 
operational
 
risk.
 
 
q121ex991p1i0.jpg
Glossary
 
of
 
Terms
Barclays
 
PLC
55
‘Pillar
 
2A
 
requirements’
The
 
additional
 
regulatory
 
capital
 
requirement
 
to
 
meet
 
risks
 
not
 
captured
 
under
 
Pillar
 
1
 
requirements.
These
 
requirements
 
are
 
the
 
outcome
 
of
 
the
 
bank’s
 
Internal
 
Capital
 
Adequacy
 
Assessment
 
Process
 
(ICAAP)
 
and
 
the
 
complementary
supervisory
 
review
 
and
 
evaluation
 
carried
 
out
 
by
 
the
 
PRA.
‘Post
 
-Model
 
Adjustment
 
(PMA)’
 
In
 
the
 
context
 
of
 
Basel
 
models,
 
a
 
PMA
 
is
 
a
 
short
 
term
 
increase
 
in
 
regulatory
 
capital
 
applied
 
at
portfolio
 
level
 
to
 
account
 
for
 
model
 
input
 
data
 
deficiencies,
 
inadequate
 
model
 
performance
 
or
 
changes
 
to
 
regulatory
 
definitions
(e.g.
 
definition
 
of
 
default)
 
to
 
ensure
 
the
 
model
 
output
 
is
 
accurate,
 
complete
 
and
 
appropriate.
‘Potential
 
Future
 
Exposure
 
(PFE)
 
on
 
derivatives’
 
A
 
regulatory
 
calculation
 
in
 
respect
 
of
 
the
 
Barclays
 
Group’s
 
potential
 
future
 
credit
exposure
 
on
 
both
 
exchange
 
traded
 
and
 
OTC
 
derivative
 
contrac
 
ts,
 
calculated
 
by
 
assigning
 
a
 
standardised
 
percentage
 
(based
 
on
 
the
underlying
 
risk
 
category
 
and
 
residual
 
trade
 
maturity)
 
to
 
the
 
gross
 
notional
 
value
 
of
 
each
 
contract.
‘PRA
 
waivers’
 
PRA
 
approvals
 
that
 
specifically
 
give
 
permission
 
to
 
the
 
bank
 
to
 
either
 
modi
 
fy
 
or
 
waive
 
existing
 
rules.
 
Waivers
 
are
specific
 
to
 
an
 
organisation
 
and
 
require
 
applications
 
being
 
submitted
 
to
 
and
 
approved
 
by
 
the
 
PRA.
‘Primary
 
securitisations’
The
 
issuance
 
of
 
securities
 
(bonds
 
and
 
commercial
 
papers)
 
for
 
fund-raising.
‘Primary
 
Stress
 
Tests’
 
In
 
the
 
context
 
of
 
Traded
 
Market
 
Risk,
 
Stress
 
Testing
 
provides
 
an
 
estimate
 
of
 
potentially
 
significant
 
future
losses
 
that
 
might
 
arise
 
from
 
extreme
 
market
 
moves
 
or
 
scenarios.
 
Primary
 
Stress
 
Tests
 
apply
 
stress
 
moves
 
to
 
key
 
liquid
 
risk
 
factors
for
 
each
 
of
 
the
 
major
 
trading
 
asset
 
classes.
‘Prime
 
Services’
 
Involves
 
financing
 
of
 
fixed
 
income
 
and
 
equity
 
positions
 
using
 
Repo
 
and
 
stock
 
lending
 
facilities.
 
The
 
Prime
 
Services
business
 
also
 
provides
 
brokerage
 
facilitation
 
services
 
for
 
hedge
 
fund
 
clients
 
off
 
ering
 
execution
 
and
 
clearance
 
facilities
 
for
 
a
 
variety
of
 
asset
 
classes.
 
‘Principal’
 
In
 
the
 
context
 
of
 
a
 
loan,
 
the
 
amount
 
borrowed,
 
or
 
the
 
part
 
of
 
the
 
amount
 
borrowed
 
which
 
remains
 
unpaid
 
(excluding
interest).
 
 
‘Private
 
equity
 
investments’
 
Investments
 
in
 
equity
 
securities
 
in
 
operating
 
companies
 
not
 
quoted
 
on
 
a
 
public
 
exchange.
 
Investment
in
 
private
 
equity
 
often
 
involves
 
the
 
investment
 
of
 
capital
 
in
 
private
 
companies
 
or
 
the
 
acquisition
 
of
 
a
 
public
 
company
 
that
 
re
 
sults
 
in
the
 
delisting
 
of
 
public
 
equity.
 
Capital
 
for
 
private
 
equity
 
investment
 
is
 
raised
 
by
 
retail
 
or
 
institutional
 
investors
 
and
 
used
 
to
 
fund
investment
 
strategies
 
such
 
as
 
leveraged
 
buyouts,
 
venture
 
capital,
 
growth
 
capital,
 
distressed
 
investments
 
and
 
mezz
 
anine
 
capital.
 
‘Principal
 
Risks’
 
The
 
principal
 
risks
 
affecting
 
the
 
Barclays
 
Group,
 
as
 
described
 
in
 
the
 
Risk
 
Review
 
section
 
of
 
the
 
Barclays
 
PLC
 
Annual
Report.
‘Pro
 
-cyclicality’
 
Movements
 
in
 
financial
 
variables
 
(including
 
capital
 
requirements)
 
following
 
nat
 
ural
 
fluctuations
 
in
 
the
 
economic
cycle,
 
where
 
the
 
subsequent
 
impact
 
on
 
lending
 
or
 
other
 
market
 
behaviours
 
acts
 
as
 
an
 
amplification
 
of
 
the
 
economic
 
cycle
 
by
 
the
financial
 
sector.
‘Probability
 
of
 
Default
 
(PD)’
The
 
likelihood
 
that
 
a
 
loan
 
will
 
not
 
be
 
repaid
 
and
 
will
 
fall
 
into
 
default.
 
PD
 
may
 
be
 
calculated
 
for
 
each
client
 
who
 
has
 
a
 
loan
 
(normally
 
applicable
 
to
 
wholesale
 
customers/clients)
 
or
 
for
 
a
 
portfolio
 
of
 
clients
 
with
 
similar
 
attributes
(normally
 
applicable
 
to
 
retail
 
customers).
 
To
 
calculate
 
PD,
 
Barclays
 
assesses
 
the
 
credit
 
quality
 
of
 
borrowers
 
and
 
other
counterparties
 
and
 
assigns
 
them
 
an
 
internal
 
risk
 
rating.
 
Multiple
 
rating
 
methodologies
 
may
 
be
 
used
 
to
 
inform
 
the
 
rating
 
decision
 
on
individual
 
large
 
credits,
 
such
 
as
 
internal
 
and
 
external
 
models,
 
ra
 
ting
 
agency
 
ratings,
 
and
 
for
 
wholesale
 
assets
 
market
 
information
such
 
as
 
credit
 
spreads.
 
For
 
smaller
 
credits,
 
a
 
single
 
source
 
may
 
suffice
 
such
 
as
 
the
 
result
 
from
 
an
 
internal
 
rating
 
model.
‘Product
 
structural
 
hedge’
 
An
 
interest
 
rate
 
hedge
 
put
 
in
 
place
 
to
 
reduce
 
earnings
 
volatility
 
on
 
product
 
balances
 
with
 
instant
 
access
(such
 
as
 
non-interest
 
bearing
 
current
 
accounts
 
and
 
managed
 
rate
 
deposits)
 
and
 
to
 
smoothen
 
the
 
income
 
over
 
a
 
medium/long
 
term.
 
‘Properties
 
in
 
Possession
 
held
 
as
 
‘Loans
 
and
 
Advances
 
to
 
Custome
 
rs’’
Properties
 
in
 
the
 
UK
 
and
 
Italy
 
where
 
the
 
customer
 
continues
to
 
retain
 
legal
 
title
 
but
 
where
 
the
 
bank
 
has
 
enforced
 
the
 
possession
 
order
 
as
 
part
 
of
 
the
 
foreclosure
 
process
 
to
 
allow
 
for
 
the
disposal
 
of
 
the
 
asset
 
or
 
the
 
court
 
has
 
ordered
 
the
 
auction
 
of
 
the
 
property.
‘Properties
 
in
 
Possession
 
held
 
as
 
‘Other
 
Real
 
Estate
 
Owned’’
Properties
 
in
 
South
 
Africa
 
where
 
the
 
bank
 
has
 
taken
 
legal
 
ownership
 
of
the
 
title
 
as
 
a
 
result
 
of
 
purchase
 
at
 
an
 
auction
 
or
 
similar
 
and
 
treated
 
as
 
‘Other
 
Real
 
Estate
 
Owned’
 
within
 
other
 
assets
 
on
 
the
 
bank’s
balance
 
sheet.
 
 
q121ex991p1i0.jpg
Glossary
 
of
 
Terms
Barclays
 
PLC
56
‘Proprietary
 
trading’
 
When
 
a
 
bank,
 
brokerage
 
or
 
other
 
financial
 
institution
 
trades
 
on
 
its
 
own
 
account,
 
at
 
its
 
own
 
risk,
 
rather
 
than
 
on
behalf
 
of
 
customers,
 
so
 
as
 
to
 
make
 
a
 
profit
 
for
 
itself.
 
‘Prudential
 
Regulation
 
Authority
 
(PRA)’
 
The
 
statutory
 
body
 
responsible
 
for
 
the
 
prudential
 
supervision
 
of
 
banks,
 
building
 
societies,
insurers
 
and
 
a
 
small
 
number
 
of
 
significant
 
investment
 
banks
 
in
 
the
 
UK.
 
The
 
PRA
 
is
 
a
 
subsidiary
 
of
 
the
 
Bank
 
of
 
England.
 
‘Prudential
 
Valuation
 
Adjustment
 
(PVA)’
 
A
 
calculation
 
which
 
adjusts
 
the
 
accounting
 
values
 
of
 
positions
 
held
 
on
 
balance
 
sheet
 
at
 
fair
value
 
to
 
comply
 
with
 
regulatory
 
valuation
 
standards,
 
which
 
place
 
greater
 
emphasis
 
on
 
the
 
inherent
 
uncertainty
 
around
 
the
 
value
 
at
which
 
a
 
trading
 
book
 
position
 
could
 
be
 
exited.
‘Public
 
benchmark’
 
Unsecured
 
medium
 
term
 
notes
 
issued
 
in
 
public
 
syndicated
 
transactions.
 
‘Qualifying
 
central
 
bank
 
claims’
An
 
amount
 
calculated
 
in
 
line
 
with
 
the
 
PRA
 
policy
 
statement
 
allowing
 
banks
 
to
 
exclude
 
claims
 
on
 
the
central
 
bank
 
from
 
the
 
calculation
 
of
 
the
 
leverage
 
exposure
 
measure,
 
as
 
long
 
as
 
these
 
are
 
matched
 
by
 
deposits
 
denominated
 
in
 
the
same
 
currency
 
and
 
of
 
identical
 
or
 
longer
 
maturity.
 
‘Qualifying
 
Revolving
 
Retail
 
Exposure
 
(QRRE)’
In
 
the
 
context
 
of
 
the
 
IRB
 
approach
 
to
 
credit
 
risk
 
RWA
 
calculations,
 
an
 
exposure
meeting
 
the
 
criteria
 
set
 
out
 
in
 
Capital
 
Requirements
 
Regulation
 
(CRR
 
Article
 
154.4).
 
It
 
includes
 
most
 
types
 
of
 
credit
 
card
 
exposure.
‘Rates’
 
In
 
the
 
context
 
of
 
Investment
 
Bank
 
income
 
analysis,
 
trading
 
revenu
 
e
 
relating
 
to
 
government
 
bonds
 
and
 
interest
 
rate
derivatives.
‘Re
 
-aging’
The
 
returning
 
of
 
a
 
delinquent
 
account
 
to
 
up-to
 
-date
 
status
 
without
 
collecting
 
the
 
full
 
arrears
 
(principal,
 
interest
 
and
fees).
‘Real
 
Estate
 
Mortgage
 
Investment
 
Conduits
 
(REMICs)’
An
 
entity
 
that
 
holds
 
a
 
fixed
 
pool
 
of
 
mortgages
 
and
 
that
 
is
separated
 
into
multiple
 
classes
 
of
 
interests
 
for
 
issuance
 
to
 
investors.
‘Recovery
 
book’
 
Represents
 
the
 
total
 
amount
 
of
 
exposure
 
which
 
has
 
been
 
transferred
 
to
 
recovery
 
units
 
who
 
set
 
and
 
implement
strategies
 
to
 
recover
 
the
 
Group’s
 
exposure.
 
‘Recovery
 
book
 
Impairment
 
Coverage
 
Ratio’
 
Impairment
 
allowance
 
held
 
against
 
recoveries
 
balances
 
expressed
 
as
 
a
 
percentage
 
of
balance
 
in
 
recoveries.
 
‘Recovery
 
book
 
proportion
 
of
 
outstanding
 
balances’
 
Represents
 
the
 
amount
 
of
 
recoveries
 
(gross
 
month-end
 
customer
 
balances
 
of
all
 
accounts
 
that
 
have
 
charged
 
-off)
 
as
 
at
 
the
 
period
 
end
 
compared
 
to
 
total
 
outstanding
 
balances.
 
The
 
size
 
of
 
the
 
recoveries
 
book
would
 
ultimately
 
have
 
an
 
impact
 
on
 
the
 
overall
 
impairment
 
requirement
 
on
 
the
 
portfolio.
 
Balances
 
in
 
recovery
 
will
 
decrease
 
if:
assets
 
are
 
written
 
-off;
 
amounts
 
are
 
collected;
 
or
 
assets
 
are
 
sold
 
to
 
a
 
third
 
party
 
(i.e.
 
debt
 
sale).
 
‘Regulatory
 
capital’
 
The
 
amount
 
of
 
capita
 
l
 
that
 
a
 
bank
 
holds
 
to
 
satisfy
 
regulatory
 
requirements.
 
‘Renegotiated
 
loans’
 
Loans
 
are
 
generally
 
renegotiated
 
either
 
as
 
part
 
of
 
an
 
ongoing
 
customer
 
relationship
 
or
 
in
 
response
 
to
 
an
adverse
 
change
 
in
 
the
 
circumstances
 
of
 
the
 
borrower.
 
In
 
the
 
latter
 
case,
 
renegotiation
 
can
 
result
 
in
 
an
 
extension
 
of
 
the
 
due
 
date
 
of
payment
 
or
 
repayment
 
plans
 
under
 
which
 
the
 
Barclays
 
Group
 
offers
 
a
 
concessionary
 
rate
 
of
 
interest
 
to
 
genuinely
 
distressed
borrowers.
 
This
 
will
 
result
 
in
 
the
 
asset
 
continuing
 
to
 
be
 
overdue,
 
and
 
individually
 
impaired
 
if
 
the
 
renegotiated
 
payments
 
of
 
interest
and
 
principal
 
will
 
not
 
recover
 
the
 
original
 
carrying
 
amount
 
of
 
the
 
asset.
 
In
 
other
 
cases,
 
renegotiation
 
will
 
lead
 
to
 
a
 
new
 
agreement,
which
 
is
 
treated
 
as
 
a
 
new
 
loan.
‘Repurchase
 
agreement
 
(Repo)’
 
or
 
‘Reverse
 
repurchase
 
agreement
 
(Reverse
 
repo)’
 
Arrangements
 
that
 
allow
 
counterparties
 
to
 
use
financial
 
securities
 
as
 
collateral
 
for
 
an
 
interest
 
bearing
 
cash
 
loan.
 
The
 
borrower
 
agrees
 
to
 
sell
 
a
 
security
 
to
 
the
 
lender
 
subject
 
to
 
a
commitment
 
to
 
repurchase
 
the
 
asset
 
at
 
a
 
specified
 
price
 
on
 
a
 
given
 
date.
 
For
 
the
 
party
 
selling
 
the
 
security
 
(and
 
agreeing
 
to
repurchase
 
it
 
in
 
the
 
future),
 
it
 
is
 
a
 
Repurchase
 
agreement
 
or
 
Repo;
 
for
 
the
 
counterparty
 
to
 
the
 
transaction
 
(buying
 
the
 
security
 
and
agreeing
 
to
 
sell
 
in
 
the
 
future),
 
it
 
is
 
a
 
Reverse
 
repurchase
 
agreement
 
or
 
Reverse
 
repo.
 
‘Reputation
 
risk’
 
The
 
risk
 
that
 
an
 
action,
 
transaction,
 
investment
 
or
 
event
 
will
 
reduce
 
trust
 
in
 
the
 
Barclays
 
Group’s
 
integrity
 
and
competence
 
by
 
clients,
 
counterparties,
 
investors,
 
regulator
 
s,
 
employees
 
or
 
the
 
public.
‘Re
 
-securitisations’
 
The
 
repackaging
 
of
 
securitised
 
products
 
into
 
securities.
 
The
 
resulting
 
securities
 
are
 
therefore
 
securitisation
positions
 
where
 
the
 
underlying
 
assets
 
are
 
also
 
predominantly
 
securitisation
 
positions.
 
 
 
q121ex991p1i0.jpg
Glossary
 
of
 
Terms
Barclays
 
PLC
57
‘Reserve
 
Capital
 
Instruments
 
(RCIs)’
 
Hybrid
 
issued
 
capit
 
al
 
securities
 
which
 
may
 
be
 
debt
 
or
 
equity
 
accounted,
 
depending
 
on
 
the
terms.
 
‘Residential
 
Mortgage
 
-Backed
 
Securities
 
(RMBS)’
 
Securities
 
that
 
represent
 
interests
 
in
 
a
 
group
 
of
 
residential
 
mortgages.
 
Investors
 
in
these
 
securities
 
have
 
the
 
right
 
to
 
cash
 
received
 
from
 
future
 
mortgage
 
payments
 
(interest
 
and/or
 
principal).
 
‘Residual
 
maturity’
The
 
remaining
 
contractual
 
term
 
of
 
a
 
credit
 
obligation
 
associated
 
with
 
a
 
credit
 
exposure.
‘Restructured
 
loans’
 
Comprises
 
loans
 
where,
 
for
 
economic
 
or
 
legal
 
reasons
 
related
 
to
 
the
 
debtor’s
 
financial
 
difficulties,
 
a
 
concession
has
 
been
 
granted
 
to
 
the
 
debtor
 
that
 
would
 
not
 
otherwise
 
be
 
considered.
 
Where
 
the
 
concession
 
results
 
in
 
the
 
expected
 
cash
 
flows
discounted
 
at
 
the
 
original
 
effective
 
interest
 
rate
 
being
 
less
 
than
 
the
 
loan’s
 
carrying
 
value,
 
an
 
impairment
 
allowance
 
will
 
be
 
raised.
 
‘Retail
 
Loans’
 
Loans
 
to
 
individuals
 
or
 
small
 
and
 
medium
 
sized
 
enterprises
 
rather
 
than
 
to
 
financial
 
institutions
 
and
 
larger
 
businesses.
It
 
includes
 
both
 
secured
 
and
 
unsecured
 
loans
 
such
 
as
 
mortgages
 
and
 
credit
 
card
 
balances,
 
as
 
well
 
as
 
loans
 
to
 
certain
 
smaller
business
 
customers,
 
typically
 
with
 
exposures
 
up
 
to
 
£3m
 
or
 
with
 
a
 
turnover
 
of
 
up
 
to
 
£5m.
 
‘Return
 
on
 
average
 
Risk
 
Weighted
 
Assets’
 
Statutory
 
profit
 
after
 
tax
 
as
 
a
 
proportion
 
of
 
average
 
RWAs.
 
‘Return
 
on
 
average
 
tangible
 
shareholders’
 
equity
 
(RoTE)’
 
P
rofit
 
after
 
tax
 
attributable
 
to
 
ordinary
 
equity
 
holders
 
of
 
the
 
parent,
 
as
 
a
proportion
 
of
 
average
 
shareholders’
 
equity
 
excluding
 
non-controlling
 
interests
 
and
 
other
 
equity
 
instruments
 
adjusted
 
for
 
the
deduction
 
of
 
intangible
 
assets
 
and
 
goodwill.
‘Return
 
on
 
average
 
allocated
 
tangible
 
equity’
Profit
 
after
 
tax
 
attributable
 
to
 
ordinary
 
equity
 
holders
 
of
 
the
 
parent,
 
as
 
a
 
proportion
of
 
average
 
allocated
 
tangible
 
equity.
‘Risk
 
appetite’
 
The
 
level
 
of
 
risk
 
that
 
Barclays
 
is
 
prepared
 
to
 
accept
 
whilst
 
pursuing
 
its
 
business
 
strategy,
 
recognising
 
a
 
range
 
of
possible
 
outcomes
 
as
 
business
 
plans
 
are
 
implemented.
‘Risk
 
weighted
 
assets
 
(RWAs)’
 
A
 
measure
 
of
 
a
 
bank’s
 
assets
 
adjusted
 
for
 
their
 
associat
 
ed
 
risks.
 
Risk
 
weightings
 
are
 
established
 
in
accordance
 
with
 
the
 
Basel
 
rules
 
as
 
implemented
 
by
 
CRR
 
and
 
local
 
regulators.
‘Risks
 
not
 
in
 
VaR
 
(RNIVS)’
 
Refers
 
to
 
all
 
the
 
key
 
market
 
risks
 
which
 
are
 
not
 
captured
 
or
 
not
 
well
 
captured
 
within
 
the
 
VaR
 
model
framework.
‘Sarbanes-Oxley
 
requirements’
 
The
 
Sarbanes-Oxley
 
Act
 
2002
 
(SOX),
 
which
 
was
 
introduced
 
by
 
the
 
US
 
Government
 
to
 
safeguard
against
 
corporate
 
govern
 
ance
 
scandals
 
such
 
as
 
Enron,
 
WorldCom
 
and
 
Tyco.
 
All
 
US-listed
 
companies
 
must
 
comply
 
with
 
SOX.
‘Second
 
Lien’
 
Debt
 
that
 
is
 
issued
 
against
 
the
 
same
 
collateral
 
as
 
higher
 
lien
 
debt
 
but
 
that
 
is
 
subordinate
 
to
 
it.
 
In
 
the
 
case
 
of
 
default,
compensation
 
for
 
this
 
debt
 
will
 
only
 
be
 
received
 
after
 
the
 
first
 
lien
 
has
 
been
 
repaid
 
and
 
thus
 
represents
 
a
 
riskier
 
investment
 
than
the
 
first
 
lien.
 
‘Secondary
 
Stress
 
Tests’
 
Secondary
 
stress
 
tests
 
are
 
used
 
in
 
measuring
 
potential
 
losses
 
arising
 
from
 
illiquid
 
market
 
risks
 
that
 
cannot
be
 
hedged
 
or
 
reduced
 
within
 
the
 
time
 
period
 
covered
 
in
 
Primary
 
Stress
 
Tests.
‘Secured
 
Overnight
 
Financing
 
Rate
 
(SOFR)’
A
 
broad
 
measure
 
of
 
the
 
cost
 
of
 
borrowing
 
cash
 
overnight
 
collateralized
 
by
 
U.S.
 
Treasury
securities
 
in
 
the
 
repurchase
 
agreement
 
(repo)
 
market.
‘Securities
 
Financing
 
Transactions
 
(SFT)’
 
In
 
the
 
context
 
of
 
RWAs,
 
any
 
of
 
the
 
following
 
transaction
 
s:
 
a
 
repurchase
 
transaction,
 
a
securities
 
or
 
commodities
 
lending
 
or
 
borrowing
 
transaction,
 
or
 
a
 
margin
 
lending
 
transaction
 
whereby
 
cash
 
collateral
 
is
 
received
 
or
paid
 
in
 
respect
 
of
 
the
 
transfer
 
of
 
a
 
related
 
asset.
 
‘Securities
 
Financing
 
Transactions
 
adjustments’
 
In
 
the
 
context
 
of
 
leverage
 
ratio,
 
a
 
regulatory
 
add-on
 
calculated
 
as
 
exposure
 
less
collateral,
 
taking
 
into
 
account
 
master
 
netting
 
agreements.
‘Securities
 
lending
 
arrangements’
 
Arrangements
 
whereby
 
securities
 
are
 
legally
 
transferred
 
to
 
a
 
third
 
party
 
subject
 
to
 
an
 
agreement
to
 
return
 
them
 
at
 
a
 
future
 
date.
 
The
 
counterparty
 
generally
 
provides
 
collateral
 
against
 
non-performance
 
in
 
the
 
form
 
of
 
cash
 
or
other
 
assets.
 
‘Securitisation’
 
Typically,
 
a
 
process
 
by
 
which
 
debt
 
instruments
 
such
 
as
 
mortgage
 
loans
 
or
 
credit
 
card
 
balances
 
are
 
aggregated
 
into
 
a
pool,
 
which
 
is
 
used
 
to
 
back
 
new
 
securities.
 
A
 
company
 
sells
 
assets
 
to
 
a
 
special
 
purpose
 
vehicle
 
(SPV)
 
which
 
then
 
issues
 
securities
 
 
q121ex991p1i0.jpg
Glossary
 
of
 
Terms
Barclays
 
PLC
58
backed
 
by
 
the
 
assets.
 
This
 
allows
 
the
 
credit
 
quality
 
of
 
the
 
assets
 
to
 
be
 
separated
 
from
 
the
 
credit
 
rating
 
of
 
the
 
original
 
borrower
 
and
transfers
 
risk
 
to
 
external
 
investors.
 
‘Set-off
 
clauses’
In
 
the
 
context
 
of
 
counterparty
 
credit
 
risk,
 
contract
 
clauses
 
that
 
allow
 
Barclays
 
to
 
set
 
off
 
amounts
 
owed
 
to
 
us
 
by
 
a
counterparty
 
against
 
amounts
 
owed
 
by
 
us
 
to
 
the
 
counterparty.
‘Settlement
 
balances’
 
Receivables
 
or
 
payables
 
recorded
 
between
 
the
 
date
 
(the
 
trade
 
date)
 
a
 
financial
 
instrument
 
(such
 
as
 
a
 
bond)
 
is
sold,
 
purchased
 
or
 
otherwise
 
closed
 
out,
 
and
 
the
 
date
 
the
 
asset
 
is
 
delivered
 
by
 
or
 
to
 
the
 
entity
 
(the
 
settlement
 
date)
 
and
 
cash
 
is
received
 
or
 
paid.
‘Settlement
 
Netting’
 
Netting
 
approach
 
used
 
in
 
the
 
calculation
 
of
 
the
 
leverage
 
exposure
 
measure
 
whereby
 
firms
 
may
 
calculate
 
their
exposure
 
value
 
of
 
regular
 
way
 
purchases
 
and
 
sales
 
awaiting
 
settlement
 
in
 
accordance
 
with
 
Article
 
429g
 
of
 
CRR,
 
as
 
amended
 
by
Regulation
 
(EU)
 
2019/876
 
(CRR
 
2).
 
‘Settlement
 
risk’
 
The
 
risk
 
that
 
settlement
 
in
 
a
 
transfer
 
system
 
will
 
not
 
take
 
place
 
as
 
expec
 
ted,
 
usually
 
owing
 
to
 
a
 
party
 
defaulting
 
on
one
 
or
 
more
 
settlement
 
obligations.
‘Significant
 
Increase
 
in
 
Credit
 
Risk
 
(SICR)’
 
Barclays
 
assesses
 
when
 
a
 
significant
 
increase
 
in
 
credit
 
risk
 
has
 
occurred
 
based
 
on
quantitative
 
and
 
qualitative
 
assessments.
‘Small
 
and
 
Medium-Sized
 
Enterprises
 
(SME)’
 
An
 
enterprise
 
which
 
employs
 
fewer
 
than
 
250
 
persons
 
and
 
which
 
has
 
an
 
annual
turnover
 
which
 
does
 
not
 
exceed
 
EUR
 
50
 
million,
 
and
 
/
 
or
 
an
 
annual
 
balance
 
sheet
 
total
 
not
 
exceeding
 
EUR
 
43
 
million.
 
Within
 
the
SME
 
category,
 
a
 
small
 
enterprise
 
is
 
defined
 
as
 
an
 
enterprise
 
which
 
employs
 
fewer
 
than
 
50
 
persons
 
and
 
whose
 
annual
 
turnover
and/or
 
annual
 
balance
 
sheet
 
total
 
does
 
not
 
exceed
 
EUR
 
10
 
million.
 
This
 
is
 
defined
 
in
 
accordance
 
with
 
Commission
Recommendation
 
2003/361/EC
 
of
 
6
 
May
 
2003
 
concerning
 
the
 
definition
 
of
 
micro,
 
small
 
and
 
medium
 
sized
 
enterprises.
‘Slotting’
 
Slotting
 
is
 
an
 
internal
 
Barclays
 
terminology
 
for
 
what
 
is
 
known
 
as
 
“Specialised
 
Lending”
 
in
 
the
 
IRB
 
approach
 
as
 
described
 
in
Capital
 
Requirements
 
Regulation
 
(CRR
 
Article
 
147.8).
 
A
 
standard
 
set
 
of
 
rules
 
are
 
required
 
to
 
be
 
used
 
in
 
credit
 
risk
 
RWA
 
calculations,
based
 
upon
 
an
 
assessment
 
of
 
factors
 
such
 
as
 
the
 
financial
 
strength
 
of
 
the
 
counterparty.
 
The
 
requirements
 
for
 
the
 
application
 
of
 
the
Specialised
 
Lending
 
approach
 
are
 
detailed
 
in
 
CRR
 
Article
 
153.5.
‘Sovereign
 
exposure(s)’
 
Exposures
 
to
 
central
 
governments,
 
including
 
holdings
 
in
 
government
 
bonds
 
and
 
local
 
government
 
bonds.
 
‘Specific
 
market
 
risk’
 
A
 
risk
 
that
 
is
 
due
 
to
 
the
 
individual
 
nature
 
of
 
an
 
asset
 
and
 
can
 
potentially
 
be
 
diversified
 
or
 
the
 
risk
 
of
 
a
 
price
change
 
in
 
an
 
investment
 
due
 
to
 
factors
 
related
 
to
 
the
 
issuer
 
or,
 
in
 
the
 
case
 
of
 
a
 
derivative,
 
the
 
issuer
 
of
 
the
 
underlying
 
investment.
‘Spread
 
risk’
 
Measures
 
the
 
impact
 
of
 
changes
 
to
 
the
 
swap
 
spread,
 
i.e.
 
the
 
difference
 
between
 
swap
 
rates
 
and
 
government
 
bond
yields.
 
‘SRB
 
ALRB’
The
 
Systemic
 
Risk
 
Buffer
 
(SRB)
 
Additional
 
Leverage
 
Ratio
 
Buffer
 
is
 
firm
 
specific
 
requirement
 
set
 
by
 
the
 
PRA
 
using
 
its
powers
 
under
 
section
 
55M
 
of
 
the
 
Financial
 
Services
 
and
 
Markets
 
Act
 
2000.
 
Barclays
 
is
 
required
 
to
 
hold
 
an
 
amount
 
of
 
CET1
 
capital
that
 
is
 
equal
 
to
 
or
 
greater
 
than
 
its
 
Additional
 
Leverage
 
Ratio
 
Buffer.
‘Stage
 
1’
 
This
 
represents
 
financial
 
instruments
 
where
 
the
 
credit
 
risk
 
of
 
the
 
financial
 
instrument
 
has
 
not
 
increased
 
significantly
 
since
initial
 
recognition.
 
Stage
 
1
 
financial
 
instruments
 
are
 
required
 
to
 
recognise
 
a
 
12
 
month
 
expected
 
credit
 
loss
 
allowance.
‘Stage
 
2’
 
This
 
represents
 
financial
 
instruments
 
where
 
the
 
credit
 
risk
 
of
 
the
 
financial
 
instrument
 
has
 
increased
 
significantly
 
since
initial
 
recognition.
 
Stage
 
2
 
financial
 
instruments
 
are
 
required
 
to
 
recognise
 
a
 
lifetime
 
expected
 
credit
 
loss
 
allowance.
‘Stage
 
3’
 
This
 
represents
 
financial
 
instruments
 
where
 
the
 
financial
 
instrument
 
is
 
considered
 
impaired.
 
Stage
 
3
 
financial
 
instruments
are
 
required
 
to
 
recognise
 
a
 
lifetime
 
expected
 
credit
 
loss
 
allowance.
‘Standard
 
&
 
Poor’s’
 
A
 
credit
 
rating
 
agency.
 
‘Standardised
 
approach
 
(SEC
 
-SA)’
 
This
 
is
 
a
 
method
 
to
 
calculate
 
risk
 
-weighted
 
exposure
 
amounts
 
for
 
securitisation
 
positions.
 
Under
this
 
method,
 
an
 
institution
 
must
 
be
 
able
 
calculate
 
regulatory
 
capital
 
requirements
 
per
 
standardized
 
approach
 
for
 
underlying
exposures
 
in
 
the
 
securitisation
 
as
 
if
 
these
 
had
 
not
 
been
 
securitised
 
(‘K
SA
’),
 
subject
 
to
 
certain
 
other
 
inputs
 
and
 
criteria.
 
 
q121ex991p1i0.jpg
Glossary
 
of
 
Terms
Barclays
 
PLC
59
‘Standby
 
facilities,
 
credit
 
lines
 
and
 
other
 
commitments’
 
Agreements
 
to
 
lend
 
to
 
a
 
customer
 
in
 
the
 
future,
 
subject
 
to
 
certain
conditions.
 
Such
 
commitments
 
are
 
either
 
made
 
for
 
a
 
fixed
 
period,
 
or
 
have
 
no
 
specific
 
maturity
 
but
 
are
 
cancellable
 
by
 
the
 
lender
subject
 
to
 
notice
 
requirements.
 
‘Statutory’
 
Line
 
items
 
of
 
income,
 
expense,
 
profit
 
or
 
loss,
 
assets,
 
liabilities
 
or
 
equity
 
stated
 
in
 
accordance
 
with
 
the
 
requirements
 
of
the
 
UK
 
Companies
 
Act
 
2006
 
and
 
the
 
requirements
 
of
 
International
 
Financial
 
Reporting
 
Standards
 
(IFRS).
‘Statutory
 
return
 
on
 
average
 
shareholders’
 
equity’
 
Statutory
 
profit
 
after
 
tax
 
attributable
 
to
 
ordinary
 
shareholders
 
as
 
a
 
proportion
 
of
average
 
shareholders’
 
equity.
 
‘STD’
 
/
 
‘Standardised
 
Approach’
 
A
 
method
 
of
 
calculating
 
RWAs
 
that
 
relies
 
on
 
a
 
mandatory
 
framework
 
set
 
by
 
the
 
regulator
 
to
 
derive
risk
 
weights
 
based
 
on
 
counterparty
 
type
 
and
 
a
 
credit
 
rating
 
provided
 
by
 
an
 
External
 
Credit
 
Assessment
 
Institute.
 
‘Sterling
 
Over
 
Night
 
Index
 
Average
 
(SONIA)’
 
Reflects
 
bank
 
and
 
building
 
societies’
 
wholesale
 
overnight
 
funding
 
rates
 
in
 
the
 
sterling
unsecured
 
market
 
administrated
 
and
 
calculated
 
by
 
the
 
Bank
 
of
 
England.
‘Stress
 
Testing’
 
A
 
process
 
which
 
involves
 
identifying
 
possible
 
future
 
adverse
 
events
 
or
 
changes
 
in
 
economic
 
conditions
 
that
 
could
have
 
unfavourable
 
effects
 
on
 
the
 
Barclays
 
Group
 
(either
 
financial
 
or
 
non-financial),
 
assessing
 
the
 
Barclays
 
Group’s
 
ability
 
to
withstand
 
such
 
changes,
 
and
 
identifying
 
management
 
actions
 
to
 
mitigate
 
the
 
impact.
 
‘Stressed
 
Value
 
at
 
Risk
 
(SVaR)’
An
 
estimate
 
of
 
the
 
potential
 
loss
 
arising
 
from
 
a
 
12-month
 
period
 
of
 
significant
 
financial
 
stress
calibrated
 
to
 
99%
 
confidence
 
level
 
over
 
a
 
10-day
 
holding
 
period.
‘Structured
 
entity’
 
An
 
entity
 
in
 
which
 
voting
 
or
 
similar
 
rights
 
are
 
not
 
the
 
dominant
 
factor
 
in
 
deciding
 
control.
 
Structured
 
entities
 
are
generally
 
created
 
to
 
achieve
 
a
 
narrow
 
and
 
well
 
defined
 
objective
 
with
 
restrictions
 
around
 
their
 
ongoing
 
activities.
‘Structural
 
hedge’
 
or
 
‘hedging’
 
An
 
interest
 
rate
 
hedge
 
in
 
place
 
to
 
reduce
 
earnings
 
volatility
 
and
 
to
 
smoothen
 
the
 
income
 
over
 
a
medium/long
 
term
 
on
 
positions
 
that
 
exist
 
within
 
the
 
balance
 
sheet
 
and
 
do
 
not
 
re-
 
price
 
in
 
line
 
with
 
market
 
rates.
 
See
 
also
 
‘Equity
structural
 
hedge’
 
and
 
‘Product
 
structural
 
hedge’.
 
‘Structural
 
model
 
of
 
default’
A
 
model
 
based
 
on
 
the
 
assumption
 
that
 
an
 
obligor
 
will
 
default
 
when
 
its
 
assets
 
are
 
insufficient
 
to
 
co
 
ver
its
 
liabilities.
‘Structured
 
credit’
 
Includes
 
the
 
legacy
 
structured
 
credit
 
portfolio
 
primarily
 
comprising
 
derivative
 
exposures
 
and
 
financing
 
exposures
to
 
structured
 
credit
 
vehicles.
‘Structured
 
finance
 
or
 
structured
 
notes’
 
A
 
structured
 
note
 
is
 
an
 
investment
 
tool
 
that
 
pays
 
a
 
return
 
linked
 
to
 
the
 
value
 
or
 
level
 
of
 
a
specified
 
asset
 
or
 
index
 
and
 
sometimes
 
offers
 
capital
 
protection
 
if
 
the
 
value
 
declines.
 
Structured
 
notes
 
can
 
be
 
linked
 
to
 
equities,
interest
 
rates,
 
funds,
 
commodities
 
and
 
foreign
 
currency
 
.
‘Sub-prime’
 
Sub-
 
prime
 
is
 
defined
 
as
 
loans
 
to
 
borrowers
 
typically
 
having
 
weakened
 
credit
 
histories
 
that
 
include
 
payment
delinquencies
 
and
 
potentially
 
more
 
severe
 
problems
 
such
 
as
 
court
 
judgments
 
and
 
bankruptcies.
 
They
 
may
 
also
 
display
 
reduced
repayment
 
capacity
 
as
 
measured
 
by
 
credit
 
scores,
 
high
 
debt-to
 
-income
 
ratios,
 
or
 
other
 
criteria
 
indicating
 
heightened
 
risk
 
of
 
default.
‘Subordinated
 
liabilities’
 
Liabilities
 
which,
 
in
 
the
 
event
 
of
 
insolvency
 
or
 
liquidation
 
of
 
the
 
issuer,
 
are
 
subordinated
 
to
 
the
 
claims
 
of
depositors
 
and
 
other
 
creditors
 
of
 
the
 
issuer.
 
‘Supranational
 
bonds’
Bonds
 
issued
 
by
 
an
 
international
 
organisation,
 
where
 
membership
 
transcends
 
national
 
boundaries
 
(e.g.
 
the
European
 
Union
 
or
 
World
 
Trade
 
Organisation).
‘Synthetic
 
Securitisation
 
Transactions’
Securitisation
 
transactions
 
effected
 
through
 
the
 
use
 
of
 
derivatives.
‘Systemic
 
Risk
 
Buffer’
CET1
 
capital
 
that
 
may
 
be
 
required
 
to
 
be
 
held
 
as
 
part
 
of
 
the
 
Combined
 
Buffer
 
Requirement
 
increasing
 
the
capacity
 
of
 
UK
 
banks
 
to
 
absorb
 
stress
 
and
 
limiting
 
the
 
damage
 
to
 
the
 
economy
 
as
 
a
 
result
 
of
 
restricted
 
lending.
‘Tangible
 
Net
 
Asset
 
Value
 
(TNAV)’
 
Shareholders’
 
equity
 
excluding
 
non-controlling
 
interests
 
adjusted
 
for
 
the
 
deduction
 
of
 
intangible
assets
 
and
 
goodwill.
 
 
 
q121ex991p1i0.jpg
Glossary
 
of
 
Terms
Barclays
 
PLC
60
‘Tangible
 
Net
 
Asset
 
Value
 
per
 
share’
 
Calculated
 
by
 
dividing
 
shareholders’
 
equity,
 
excluding
 
non-controlling
 
interests
 
and
 
other
equity
 
instruments,
 
less
 
goodwill
 
and
 
intangible
 
assets,
 
by
 
the
 
number
 
of
 
issued
 
ordinary
 
shares.
 
‘Tangible
 
shareholders’
 
equity’
 
Shareholders’
 
equity
 
excluding
 
non-controlling
 
interests
 
and
 
other
 
equity
 
instruments
 
adjusted
 
for
the
 
deduction
 
of
 
intangible
 
assets
 
and
 
goodwill.
 
‘Term
 
premium’
 
Additional
 
interest
 
required
 
by
 
investors
 
to
 
hold
 
assets
 
with
 
a
 
longer
 
period
 
to
 
maturity.
 
‘The
 
Fundamental
 
Review
 
of
 
the
 
Trading
 
Book
 
(FRTB)’
 
A
 
comprehensive
 
suite
 
of
 
capital
 
rules
 
developed
 
by
 
the
 
Basel
 
Committee
 
on
Banking
 
Supervision
 
as
 
part
 
of
 
Basel
 
III
 
and
 
applicable
 
to
 
banks’
 
wholesale
 
trading
 
activities.
‘The
 
Standardised
 
Approach
 
(TSA)’
Under
 
TSA,
 
banks
 
are
 
required
 
to
 
hold
 
regulatory
 
capital
 
for
 
operational
 
risk
 
equal
 
to
 
the
 
annual
average,
 
calculated
 
over
 
a
 
rolling
 
three-year
 
period,
 
of
 
the
 
relevant
 
income
 
indicator
 
(across
 
all
 
business
 
lines),
 
multiplied
 
by
 
a
supervisory
 
defined
 
percentage
 
factor
 
by
 
business
 
lines.
‘The
 
three
 
lines
 
of
 
defence’
The
 
three
 
lines
 
of
 
defence
 
operating
 
model
 
enables
 
Barclays
 
to
 
separate
 
risk
 
management
 
activities
between
 
those
 
client
 
facing
 
areas
 
of
 
the
 
Barclays
 
Group
 
and
 
associated
 
support
 
functions
 
responsible
 
for
 
identifying
 
risk,
 
operating
within
 
applicable
 
limits
 
and
 
escalating
 
risk
 
events
 
(first
 
line);
 
colleagues
 
in
 
Risk
 
and
 
Compliance
 
who
 
establish
 
the
 
limits,
 
rules
 
and
constraints
 
under
 
which
 
the
 
first
 
line
 
operates
 
and
 
monitor
 
their
 
performance
 
against
 
those
 
limits
 
and
 
constraints
 
(second
 
line);
and,
 
colleagues
 
in
 
Internal
 
Audit
 
who
 
provide
 
assurance
 
to
 
the
 
Board
 
and
 
Executive
 
Management
 
over
 
the
 
effectiveness
 
of
governance,
 
risk
 
management
 
and
 
control
 
over
 
risks
 
(third
 
line).
 
The
 
Legal
 
function
 
does
 
not
 
sit
 
in
 
any
 
of
 
the
 
three
 
lines,
 
but
supports
 
them
 
all.
 
The
 
Legal
 
function
 
is,
 
however,
 
subject
 
to
 
oversight
 
from
 
Risk
 
and
 
Compliance
 
with
 
respect
 
to
 
operational
 
and
conduct
 
risks.
‘Tier
 
1
 
capital’
 
The
 
sum
 
of
 
the
 
Common
 
Equity
 
Tier
 
1
 
capital
 
and
 
Additional
 
Tier
 
1
 
capital.
‘Tier
 
1
 
capital
 
ratio’
 
The
 
ratio
 
which
 
exp
 
resses
 
Tier
 
1
 
capital
 
as
 
a
 
percentage
 
of
 
RWAs
 
under
 
CRR.
 
‘Tier
 
2
 
(T2)
 
capita
l’
 
A
 
type
 
of
 
capital
 
as
 
defined
 
in
 
the
 
CRR
 
principally
 
composed
 
of
 
capital
 
instruments,
 
subordinated
 
loans
 
and
share
 
premium
 
accounts
 
where
 
qualifying
 
conditions
 
have
 
been
 
met.
‘Tier
 
2
 
(T2)
 
securities’
 
Securities
 
that
 
are
 
treated
 
as
 
Tier
 
2
 
(T2)
 
capital
 
in
 
the
 
context
 
of
 
CRR.
‘Total
 
balances
 
on
 
forbearance
 
programmes
 
coverage
 
ratio’
 
Impairment
 
allowance
 
held
 
against
 
Forbearance
 
balances
 
expressed
 
as
a
 
percentage
 
of
 
balance
 
in
 
forbearance.
‘Total
 
capital
 
ratio’
Total
 
regulatory
 
capital
 
as
 
a
 
percentage
 
of
 
RWAs.
‘Total
 
Loss
 
Absorbing
 
Capacity
 
(TLAC)’
A
 
standard
 
published
 
by
 
the
 
FSB
 
which
 
is
 
applicable
 
to
 
G-SIBs
 
and
 
requires
 
a
 
G-SIB
 
to
 
hold
 
a
prescriptive
 
minimum
 
level
 
of
 
instruments
 
and
 
liabilities
 
that
 
should
 
be
 
readily
 
available
 
for
 
bail-in
 
within
 
resolution
 
to
 
absorb
losses
 
and
 
recapitalise
 
the
 
institution.
‘Total
 
outstanding
 
balance’
In
 
retail
 
banking,
 
total
 
outstanding
 
balance
 
is
 
defined
 
as
 
the
 
gross
 
month-end
 
customer
 
balances
 
on
 
all
accounts
 
including
 
accounts
 
charged
 
off
 
to
 
recoveries.
 
‘Total
 
return
 
swap’
 
An
 
instrument
 
whereby
 
the
 
seller
 
of
 
protection
 
receives
 
the
 
full
 
return
 
of
 
the
 
asset,
 
including
 
both
 
the
 
income
and
 
change
 
in
 
the
 
capital
 
value
 
of
 
the
 
asset.
 
The
 
buyer
 
of
 
the
 
protection
 
in
 
return
 
receives
 
a
 
predetermined
 
amount.
 
‘Traded
 
Market
 
Risk’
The
 
risk
 
of
 
a
 
reduction
 
to
 
earnings
 
or
 
capital
 
due
 
to
 
volatility
 
of
 
trading
 
book
 
positions.
‘Trading
 
book’
All
 
positions
 
in
 
financial
 
instruments
 
and
 
commodities
 
held
 
by
 
an
 
institution
 
either
 
with
 
trading
 
intent,
 
or
 
in
 
order
 
to
hedge
 
positions
 
held
 
with
 
trading
 
intent.
‘Traditional
 
Securitisation
 
Transactions’
Securitisation
 
transactions
 
in
 
which
 
an
 
underlying
 
pool
 
of
 
assets
 
generates
 
cash
 
flows
 
to
service
 
payments
 
to
 
investors.
‘Transitional’
 
When
 
a
 
measure
 
is
 
presented
 
or
 
described
 
as
 
being
 
on
 
a
 
transitional
 
basis,
 
it
 
is
 
calculated
 
in
 
accordance
 
with
 
the
transitional
 
provisions
 
set
 
out
 
in
 
Part
 
Ten
 
of
 
CRR.
 
 
q121ex991p1i0.jpg
Glossary
 
of
 
Terms
Barclays
 
PLC
61
‘Treasury
 
and
 
Capital
 
Risk’
 
This
 
comprises
 
of
 
Liquidity
 
Risk,
 
Capital
 
Risk
 
and
 
Interest
 
Rate
 
Risk
 
in
 
the
 
banking
 
book.
‘Twelve
 
month
 
expected
 
credit
 
losses’
 
The
 
portion
 
of
 
the
 
lifetime
 
ECL
 
arising
 
if
 
default
 
occurs
 
within
 
12
 
months
 
of
 
the
 
reporting
date
 
(or
 
shorter
 
period
 
if
 
the
 
expected
 
life
 
is
 
less
 
than
 
12
 
months),
 
weighted
 
by
 
the
 
probability
 
of
 
said
 
default
 
occurring.
‘Twelve
 
month
 
PD’
 
The
 
likelihood
 
of
 
accounts
 
entering
 
default
 
within
 
12
 
months
 
of
 
the
 
reporting
 
date.
‘Unencumbered’
 
Assets
 
not
 
used
 
to
 
secure
 
liabilities
 
or
 
otherwise
 
pledged.
 
‘United
 
Kingdom
 
(UK)’
 
Geographic
 
segment
 
where
 
Barclays
 
operates
 
comprising
 
the
 
UK.
 
Also
 
see
 
‘Europe’.
 
‘UK
 
Bank
 
Levy’
 
A
 
levy
 
that
 
applies
 
to
 
UK
 
banks,
 
building
 
societies
 
and
 
the
 
UK
 
operations
 
of
 
foreign
 
banks.
 
The
 
levy
 
is
 
payable
 
based
on
 
a
 
percentage
 
of
 
the
 
chargeable
 
equity
 
and
 
liabilities
 
of
 
the
 
bank
 
on
 
its
 
balance
 
sheet
 
date.
 
‘UK
 
leverage
 
ex
 
posure’
Calculated
 
as
 
per
 
the
 
PRA
 
rulebook,
 
where
 
the
 
exposure
 
calculation
 
also
 
includes
 
the
 
FPC’s
recommendation
 
to
 
allow
 
banks
 
to
 
exclude
 
claims
 
on
 
the
 
central
 
bank
 
from
 
the
 
calculation
 
of
 
the
 
leverage
 
exposure
 
measure,
 
as
long
 
as
 
these
 
are
 
matched
 
by
 
deposits
 
denominated
 
in
 
the
 
same
 
currency
 
and
 
of
 
identical
 
or
 
longer
 
maturity.
‘UK
 
leverage
 
ratio’
As
 
per
 
the
 
PRA
 
rulebook,
 
means
 
a
 
bank’s
 
Tier
 
1
 
capital
 
divided
 
by
 
its
 
total
 
exposure
 
measure,
 
with
 
this
 
ratio
expressed
 
as
 
a
 
percentage.
‘Unfunded
 
credit
 
protection’
 
A
 
technique
 
of
 
credit
 
risk
 
mitigation
 
where
 
the
 
reduction
 
of
 
the
 
credit
 
risk
 
on
 
the
 
exposure
 
of
 
an
institution
 
derives
 
from
 
the
 
obligation
 
of
 
a
 
third
 
party
 
to
 
pay
 
an
 
amount
 
in
 
the
 
event
 
of
 
the
 
default
 
of
 
the
 
borrower
 
or
 
the
occurrence
 
of
 
other
 
specified
 
credit
 
events.
‘US
 
Partner
 
Portfolio’
 
Co-branded
 
credit
 
card
 
programs
 
with
 
companies
 
across
 
various
 
sectors
 
including
 
travel,
 
entertainment
 
and
retail.
‘US
 
Residential
 
Mortgages’
 
Securities
 
that
 
represent
 
interests
 
in
 
a
 
group
 
of
 
US
 
residential
 
mortgages.
 
‘Valuation
 
weighted
 
Loan
 
to
 
Value
 
(LTV)
 
ratio’
 
In
 
the
 
context
 
of
 
credit
 
risk
 
disclosures
 
on
 
secured
 
home
 
loans,
 
a
 
means
 
of
calculating
 
marked
 
to
 
market
 
LTVs
 
derived
 
by
 
comparing
 
total
 
outstanding
 
balance
 
and
 
the
 
value
 
of
 
total
 
collateral
 
we
 
hold
 
against
these
 
balances.
 
Valuation
 
weighted
 
Loan
 
to
 
Value
 
ratio
 
is
 
calculated
 
using
 
the
 
following
 
formula:
 
LTV
 
=
 
total
 
outstandings
 
in
portfolio/total
 
property
 
values
 
of
 
total
 
outstandings
 
in
 
portfolio.
‘Value
 
at
 
Risk
 
(VaR)’
 
A
 
measure
 
of
 
the
 
potential
 
loss
 
of
 
value
 
arising
 
from
 
unfavourable
 
market
 
movements
 
at
 
a
 
specific
 
confidence
level
 
and
 
within
 
a
 
specific
 
timeframe.
‘Weighted
 
off
 
balance
 
sheet
 
commitments’
 
Regulatory
 
add-ons
 
to
 
the
 
leverage
 
exposure
 
measure
 
based
 
on
 
credit
 
conversion
factors
 
used
 
in
 
the
 
Standardised
 
Approach
 
to
 
credit
 
risk.
‘Wholesale
 
loans’
 
or
 
‘wholesale
 
lending’
 
Lending
 
to
 
larger
 
businesses,
 
financial
 
institutions
 
and
 
sovereign
 
entities.
 
‘Write
 
-off
 
(gross)’
 
The
 
point
 
where
 
it
 
is
 
determined
 
that
 
an
 
asset
 
is
 
irrecoverable,
 
or
 
it
 
is
 
no
 
longer
 
considered
 
economically
 
viable
to
 
try
 
to
 
recover
 
the
 
asset
 
or
 
it
 
is
 
deemed
 
immaterial
 
or
 
full
 
and
 
final
 
settlement
 
is
 
reached
 
and
 
the
 
shortfall
 
written
 
off.
 
In
 
the
event
 
of
 
write-off,
 
the
 
customer
 
balance
 
is
 
removed
 
from
 
the
 
balance
 
sheet
 
and
 
the
 
impairment
 
allowance
 
held
 
against
 
the
 
asset
 
is
released.
 
Net
 
write-offs
 
represent
 
gross
 
write-offs
 
less
 
post
 
write
 
-
 
off
 
recoveries.
 
‘Wrong
 
-way
 
risk’
Arises
 
in
 
a
 
trading
 
exposure
 
when
 
there
 
is
 
significant
 
correlation
 
between
 
the
 
underlying
 
asset
 
and
 
the
counterparty,
 
which
 
in
 
the
 
event
 
of
 
default
 
would
 
lead
 
to
 
a
 
significant
 
mark
 
to
 
market
 
loss.
 
When
 
assessing
 
the
 
credit
 
exposure
 
of
 
a
wrong
 
-way
 
trade,
 
analysts
 
take
 
into
 
account
 
the
 
correlation
 
between
 
the
 
counterparty
 
and
 
the
 
underlying
 
asset
 
as
 
part
 
of
 
the
sanctioning
 
process.