Barclays 2012 Annual Report Download - page 150

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Italy (audited)
Fair value through profit or loss
Trading portfolio Derivatives
Designated
at FV Total
As at 31 December Assets
£m
Liabilities
£m
Net
£m
Assets
£m
Liabilities
£m
Cash
collateral
£m
Net
£m
Assets
£m
2012
£m
2011
£m
Sovereign 2,178 (2,178) – 1,702 (581) – 1,121 2 1,123 1,144
Financial institutions 271 (85) 186 7,074 (5,341) (1,733) – 166 352 456
Corporate 282 (116) 166 477 (214) (56) 207 326 699 171
Fair value through OCI
Available for sale assetsa
As at 31 December Cost
£m
AFS
reserve
£m
2012
Total
£m
2011
Total
£m
Sovereign 1,509 28 1,537 2,334
Financial institutions 134 4 138 138
Corporate 27 2 29 27
Held at amortised cost
Loans and advances
As at 31 December Gross
£m
Impairment
allowances
£m
2012
Total
£m
2011
Total
£m
Sovereign 9 – 9 15
Financial institutions 38 – 38 75
Residential mortgages 15,698 (107) 15,591 15,934
Corporate 1,354 (120) 1,234 2,720
Other retail lending 2,042 (106) 1,936 2,335
Off-balance sheet
Contingent liabilities
and commitments
As at 31 December 2012
£m
2011
£m
Financial institutions 90 17
Residential mortgages 45 101
Corporate 2,158 2,034
Other retail lending 789 988
Sovereign
Predominantly £1,537m (2011: £2,334m) AFS government bonds with no impairment and £28m cumulative fair value gain (2011: £123m
cumulative fair value loss) held in the AFS reserve.
Residential mortgages
£15,591m (2011: £15,934m) secured on residential property with average valuation weighted marked to market LTV of 46.7% (2011: 46.9%).
CRL coverage of 23% (2011: 25%) remains stable; and
90 day arrears at 1.0% (2011: 1.0%) were stable; however gross charge-off rates increased to 0.8% (2011: 0.5%).
Corporate
£1,234m (2011: £2,720m) focused on large corporate clients with very limited exposure to the property sector; and
Balances in early warning lists were broadly stable since December 2011.
Other retail lending
£1,337m (2011: £1,615m) Italian salary advance loans (repayment deducted at source by qualifying employers and Barclays is insured in the
event of termination of employment or death). Arrears rates on salary loans improved during 2012 while charge-off rates deteriorated; and
£434m (2011: £483m) credit cards and other unsecured loans. Arrears rates (both 30 and 90 days) and gross charge-off rates in cards and
unsecured loans have improved in 2012.
Note
a ‘Cost’ refers to the fair value of the asset at recognition, less any impairment booked. ‘AFS reserve’ is the cumulative fair value gain or loss on the assets that is held
in equity. ‘Total’ is the fair value of the assets at the balance sheet date.
barclays.com/annualreport148 I Barclays PLC Annual Report 2012
Risk review
Credit risk continued