Barclays plc - Annual Report 2008 - Financial statements - The Group
Barclays plc - Annual Report 2008 - Financial statements - The Group
Barclays plc - Annual Report 2008 - Financial statements - The Group
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24 <strong>Financial</strong> liabilities designated at fair value<br />
<strong>2008</strong> 2007<br />
Contractual<br />
Contractual<br />
amount<br />
amount<br />
due on<br />
due on<br />
Fair value maturity Fair value maturity<br />
£m £m £m £m<br />
Debt securities 61,297 69,197 52,320 62,167<br />
Deposits 10,518 10,109 17,319 18,140<br />
Other 5,077 6,761 4,850 6,239<br />
<strong>Financial</strong> liabilities designated at fair value 76,892 86,067 74,489 86,546<br />
At 31st December <strong>2008</strong>, the own credit adjustment arose from the fair valuation of £54.5bn of <strong>Barclays</strong> Capital structured notes (2007: £40.7bn).<br />
<strong>The</strong> widening of <strong>Barclays</strong> credit spreads in the year affected the fair value of these notes and as a result revaluation gains of £1,663m were recognised<br />
in trading income (2007: £658m).<br />
25 Other liabilities<br />
<strong>2008</strong> 2007<br />
£m £m<br />
Accruals and deferred income 6,495 6,075<br />
Sundry creditors 6,049 4,341<br />
Obligations under finance leases (Note 37) 96 83<br />
Other liabilities 12,640 10,499<br />
Included in the above are balances of £11,068m (2007: £9,043m) expected to be settled within no more than 12 months after the balance sheet date;<br />
and balances of £1,572m (2007: £1,456m) expected to be settled more than 12 months after the balance sheet date.<br />
Accruals and deferred income included £nil (2007: £102m) in relation to deferred income from investment contracts and £nil (2007: £677m)<br />
in relation to deferred income from insurance contracts.<br />
3<br />
<strong>Financial</strong> <strong>statements</strong><br />
<strong>Barclays</strong> PLC <strong>Annual</strong> <strong>Report</strong> <strong>2008</strong> 225