Barclays 2009 Annual Report Download - page 298

296 Barclays PLC Annual Report 2009 www.barclays.com/annualreport09
Notes to the accounts
For the year ended 31st December 2009
continued
50 Fair value of financial instruments continued
Level 3 financial assets and liabilities by balance sheet classification and product type
As at 31st December 2009 Non-derivative assets Non-derivative liabilities Derivatives
Financial Financial Net
Trading assets Trading liabilities derivative
portfolio designated Available for portfolio designated financial
assets at fair value sale assets liabilities at fair value instrumentsa
£m £m £m £m £m £m
Commercial real estate loans –7,170––––
Asset backed products 1,840 423 205 (5) (63) 1,106
Other credit products – 92 – – (595) (304)
Derivative exposure to Monoline insurers –––––2,027
Non-asset backed debt instruments 2,461 438 166 (73) (3,081) 14
Equity products 190 – 157 – – (733)
Private equity 104 1,237 637 – – –
Funds and fund-linked products 1,128 8 105 – – –
FX products –––––382
Interest rate products – 64 – – (25) 543
Commodity products – 12 4 – (64) 215
Other 355 1,256 3 – – (163)
Total 6,078 10,700 1,277 (78) (3,828) 3,087
Level 3 Movement Analysis
The following table summarises the movements in the level 3 balance during the year ended 31st December 2009. The table shows gains and losses and
includes amounts for all financial assets and liabilities transferred to level 3 during the year. The table does not reflect gains and losses for level 3 financial
assets and liabilities that were transferred out during the year. Transfers have been reflected as if they had taken place at the beginning of the year.
Analysis of movement in level 3 financial assets and liabilities
For the period ended 31st December 2009 Financial Financial Net
Trading assets Trading liabilities derivative
portfolio designated Available for portfolio designated financial
assets at fair value sale assets liabilities at fair value instrumentsaTotal
£m £m £m £m £m £m £m
As at 1st January 2009 14,625 17,681 3,137 (258) (3,779) 7,493 38,899
Purchases 2,021 700 459 (70) (313) 2,334 5,131
Sales (7,018) (4,875) (9) 172 690 (3,548) (14,588)
Issues – – – – (1,343) (1,718) (3,061)
Settlements (410) (804) (347) – 763 (100) (898)
Total gains and losses in the period
Recognised in the income statement
– trading income (2,290) (3,356) – 27 1,574 (3,516) (7,561)
– other income – (434) (131) – – – (565)
Total gains or losses recognised in
other comprehensive income – – (103) – – – (103)
Transfers in/transfers out (850) 1,788 (1,729) 51 (1,420) 2,142 (18)
As at 31st December 2009 6,078 10,700 1,277 (78) (3,828) 3,087 17,236
The following table discloses the gains and losses recognised in the period arising on level 3 financial assets and liabilities held as at 31st December 2009.
Gains and losses recognised during the period on level 3 financial assets and liabilities held
As at 31st December 2009 Financial Financial Net
Trading assets Trading liabilities derivative
portfolio designated Available for portfolio designated financial
assets at fair value sale assets liabilities at fair value instruments Total
£m £m £m £m £m £m £m
Total gains and losses held as at 31st December 2009
Recognised in the income statement
– trading income (736) (3,034) – 8 (269) (2,817) (6,848)
– other income – (452) (140) – – – (592)
Total gains or losses recognised in
other comprehensive income – – (65) – – – (65)
Total (736) (3,486) (205) 8 (269) (2,817) (7,505)
Note
aThe derivative financial instruments in the tables above are represented on a net basis of
£3,087m. On a gross basis derivative financial assets are £12,201m, derivative financial
liabilities are £9,114m.