Aviva 2013 Annual Report Download - page 236

Aviva plc
Annual report and accounts 2013
234
Notes to the consolidated financial statements continued
60 – Financial assets and liabilities subject to offsetting, enforceable master netting
arrangements and similar agreements continued
Related amounts not set
off in the statement of
financial position
2012
Gross
amounts of
recognised
financial
assets
£m
Gross
amounts of
recognised
financial
liabilities set
off in the
statement
of financial
position
£m
Net
amounts of
financial
assets
presented
in the
statement
of financial
position
£m
Financial
instruments
£m
Collateral
received
£m
Net amount
£m
Financial assets
Derivatives 2,470 (880) 1,590 (13) (67) 1,510
Cash held as collateral on reverse repurchase and similar arrangements 4,250 — 4,250 — (4,250) —
Securities Lending 661 (116) 545 — (543) 2
Other investments 8 — 8 — — 8
Total 7,389 (996) 6,393 (13) (4,859) 1,520
Restated1
Related amounts not set
off in the statement of
financial position
2012
Gross
amounts of
recognised
financial
liabilities
£m
Gross
amounts of
recognised
financial
assets set
off in the
statement
of financial
position
£m
Net
amounts of
financial
liabilities
presented
in the
statement
of financial
position
£m
Financial
instruments
£m
Collateral
pledged
£m
Net amount
£m
Financial liabilities
Derivatives 5,328 (3,577) 1,751 (13) (193) 1,545
Total 5,328 (3,577) 1,751 (13) (193) 1,545
1 Restated for the adoption of IFRS10. See note 1 for further details.
Derivative assets are recognised as ‘Derivative financial instruments’ in note 27(a), while fair value liabilities are recognised as
‘Derivative liabilities’ in note 51.
Collateral held by UK Life in relation to securities lending totals £4,844 million (2012: £4,250 million) and is recognised within
‘Loans to Banks’ in note 24(a). The 2013 total is split in this table between cash collateral of £4,543 million and £301 million of
other collateral included in the other investments line. The entire 2012 balance of £4,250 was in cash collateral.
The asset amounts within securities lending relate to securities lending arrangements in Canada, and are included within their
recognised financial investments.
The remaining £231 million in the other investment line above relate to hedge funds held by unit trusts.