Barclays plc - Annual Report 2008 - Financial statements - The Group

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Notes to the accounts For the year ended 31st December 2008 49 Liquidity risk (continued) Contractual maturity of financial liabilities on an undiscounted basis The table below presents the cash flows payable by the Group under financial liabilities by remaining contractual maturities at the balance sheet date. The amounts disclosed in the table are the contractual undiscounted cash flows of all financial liabilities (i.e nominal values), whereas the Group manages the inherent liquidity risk based on discounted expected cash inflows. Derivative financial instruments held for trading and trading portfolio liabilities are included in the on demand column at their fair value. At 31st December 2008 Over one year but On Within less than Over demand one year five years five years Total £m £m £m £m £m Deposits from other banks 10,850 101,537 2,224 671 115,282 Items in the course of collection due to other banks 1,633 2 – – 1,635 Customer accounts 195,728 132,927 5,249 5,807 339,711 Trading portfolio liabilities 59,474 – – – 59,474 Financial liabilities designated at fair value: – held on own account 1,043 33,860 28,300 30,427 93,630 Derivative financial instruments: – held for trading 964,071 – – – 964,071 – designated for risk management – 1,809 1,671 1,206 4,686 Debt securities in issue 2,567 108,955 34,510 11,853 157,885 Repurchase agreements and cash collateral on securities lent 69 181,895 547 24 182,535 Subordinated liabilities – 1,273 10,166 22,593 34,032 Other financial liabilities – 4,573 1,572 – 6,145 Total financial liabilities 1,235,435 566,831 84,239 72,581 1,959,086 Off balance sheet items Loan commitments 222,801 30,502 5,799 917 260,019 Other commitments 493 318 340 – 1,151 Total off balance sheet items 223,294 30,820 6,139 917 261,170 Total financial liabilities and off balance sheet items 1,458,729 597,651 90,378 73,498 2,220,256 At 31st December 2007 Over one year but not On Within more than Over demand one year five years five years Total £m £m £m £m £m Deposits from other banks 16,288 72,533 2,099 275 91,195 Items in the course of collection due to other banks 1,781 11 – – 1,792 Customer accounts 174,269 112,875 3,739 10,280 301,163 Trading portfolio liabilities 65,402 – – – 65,402 Financial liabilities designated at fair value: – held on own account 655 34,008 25,870 31,868 92,401 Derivative financial instruments: – held for trading 247,378 – – – 247,378 – designated for risk management – 226 479 186 891 Debt securities in issue 698 91,201 22,926 15,020 129,845 Repurchase agreements and cash collateral on securities lent – 169,725 146 23 169,894 Subordinated liabilities – 463 4,964 17,875 23,302 Other financial liabilities – 2,968 1,456 – 4,424 Total financial liabilities 506,471 484,010 61,679 75,527 1,127,687 Off balance sheet items Loan commitments 183,784 3,111 4,513 963 192,371 Other commitments 453 200 145 12 810 Total off balance sheet items 184,237 3,311 4,658 975 193,181 Total financial liabilities and off balance sheet items 690,708 487,321 66,337 76,502 1,320,868 Financial liabilities designated at fair value in respect of linked liabilities under investment contracts have been excluded from this analysis as the Group is not exposed to liquidity risk arising from them. Any request for funds from investors would be met simultaneously from the linked assets. The balances in the above table will not agree directly to the balances in the consolidated balance sheet as the table incorporates all cash flows, on an undiscounted basis, related to both principal as well as those associated with all future coupon payments. The principal due under perpetual subordinated liability instruments has been included in the over five years category. Further interest payments have not been included on this amount, which according to their strict contractual terms, could carry on indefinitely. 286 Barclays PLC Annual Report 2008 | Find out more at www.barclays.com/annualreport08
50 Fair value of financial instruments The fair value of a financial instrument is the amount for which an asset could be exchanged, or a liability settled, in an arm’s length transaction between knowledgeable willing parties. Comparison of carrying amounts and fair values The following table summarises the carrying amounts of financial assets and liabilities presented on the Group’s balance sheet, and their fair values differentiating between financial assets and liabilities subsequently measured at fair value and those subsequently measured at amortised cost: 2008 2007 Carrying Fair Carrying Fair amount value amount value Notes £m £m £m £m Financial assets: Cash and balances at central banks a 30,019 30,019 5,801 5,801 Items in the course of collection from other banks a 1,695 1,695 1,836 1,836 Trading portfolio assets – Treasury and other eligible bills b 4,544 4,544 2,094 2,094 – Debt securities b 148,686 148,686 152,778 152,778 – Equity securities b 30,535 30,535 36,307 36,307 – Traded Loans b 1,070 1,070 1,780 1,780 – Commodities b 802 802 732 732 Financial assets designated at fair value: held in respect of linked liabilities under investment contracts b 66,657 66,657 90,851 90,851 held under own account: – Equity securities b 6,496 6,496 5,376 5,376 – Loans and advances b 30,187 30,187 23,491 23,491 – Debt securities b 8,628 8,628 24,217 24,217 – Other financial assets designated at fair value b 9,231 9,231 3,545 3,545 Derivative financial instruments b 984,802 984,802 248,088 248,088 Loans and advances to banks c 47,707 47,594 40,120 40,106 Loans and advances to customers – Residential mortgage loans c 135,077 133,605 106,619 106,615 – Credit card receivables c 22,304 22,312 14,289 14,289 – Other personal lending c 32,038 31,264 29,857 29,857 – Wholesale and corporate loans and advances c 259,699 247,798 183,556 182,036 – Finance lease receivables c 12,697 12,697 11,077 11,066 Available for sale financial instruments – Treasury and other eligible bills b 4,003 4,003 2,723 2,723 – Debt securities b 58,831 58,831 38,673 38,673 – Equity securities b 2,142 2,142 1,676 1,676 Reverse repurchase agreements and cash collateral on securities borrowed c 130,354 129,296 183,075 183,075 Financial liabilities: Deposits from banks d 114,910 114,912 90,546 90,508 Items in the course of collection due to other banks a 1,635 1,635 1,792 1,792 Customer accounts: – Current and demand accounts d 82,515 82,515 80,006 80,006 – Savings accounts d 76,008 76,008 74,599 74,599 – Other time deposits d 176,982 176,966 140,382 141,917 Trading portfolio liabilities: – Treasury and other eligible bills b 79 79 486 486 – Debt securities b 44,309 44,309 50,506 50,506 – Equity securities b 14,919 14,919 13,702 13,702 – Commodities b 167 167 708 708 Financial liabilities designated at fair value: – Held on own account b 76,892 76,892 74,489 74,489 – Liabilities to customers under investment contracts b 69,183 69,183 92,639 92,639 Derivative financial instruments b 968,072 968,072 248,288 248,288 Debt securities in issue d 149,567 148,736 120,228 120,176 Repurchase agreements and cash collateral on securities lent d 182,285 182,285 169,429 169,429 Subordinated liabilities d 29,842 22,944 18,150 17,410 3 Financial statements Barclays PLC Annual Report 2008 287
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Financial statements Presentation o
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Independent Auditors’ report Inde
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Consolidated accounts Barclays PLC
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) financial assets, loans to custom
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11. Collateral and netting The Grou
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17. Issued debt and equity securiti
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24. Taxes, including deferred taxes
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The following IFRIC interpretations
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Consolidated balance sheet As at 31
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Consolidated cash flow statement Fo
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Statement of recognised income and
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4 Principal transactions 2008 2007
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9 Administration and general expens
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12 Trading portfolio 2008 2007 £m
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14 Derivative financial instruments
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16 Available for sale financial inv
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20 Investments in associates and jo
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22 Intangible assets 2008 Internall
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24 Financial liabilities designated
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26 Insurance assets and liabilities
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27 Subordinated liabilities (contin
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27 Subordinated liabilities (contin
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29 Securitisations The Group was pa
Page 47 and 48: 30 Retirement benefit obligations (
Page 53 and 54: 31 Ordinary shares, share premium,
Page 55 and 56: 32 Reserves (continued) Retained ea
Page 57 and 58: 34 Contingent liabilities and commi
Page 59 and 60: 37 Leasing The Group is both lessor
Page 61 and 62: 39 Acquisitions The Group made the
Page 63 and 64: 39 Acquisitions (continued) (c) Exp
Page 65 and 66: 42 Other entities There are a numbe
Page 67 and 68: 43 Related party transactions and D
Page 69 and 70: 43 Related party transactions and D
Page 71 and 72: 45 Share-based payments (continued)
Page 77 and 78: 47 Credit risk (continued) Whilst t
Page 79 and 80: 47 Credit risk (continued) Credit r
Page 81 and 82: 47 Credit risk (continued) Credit r
Page 83 and 84: 47 Credit risk (continued) All loan
Page 85 and 86: 47 Credit risk (continued) Loans an
Page 87 and 88: 47 Credit risk (continued) Renegoti
Page 89 and 90: 47 Credit risk (continued) Reverse
Page 91 and 92: 48 Market risk (continued) To furth
Page 93 and 94: 48 Market risk (continued) Foreign
Page 95 and 96: 49 Liquidity risk (continued) Year-
Page 97: 49 Liquidity risk (continued) At 31
Page 101 and 102: 50 Fair value of financial instrume
Page 103 and 104: 50 Fair value of financial instrume
Page 105 and 106: 52 Capital Management (continued) R
Page 107 and 108: 53 Segmental reporting (continued)
Page 109 and 110: 53 Segmental reporting (continued)
Page 111 and 112: Barclays Bank PLC data Consolidated
Page 117 and 118: c Principal transactions (continued
Page 119 and 120: f Other income 2008 2007 2006 £m
Page 121 and 122: k Called up share capital (continue
Page 123 and 124: l Reserves Other reserves Available
Page 125 and 126: Barclays Bank PLC data Financial Da
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Barclays plc - Annual Report 2008 - Financial statements - The Group

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