Barclays 2012 Annual Report Download - page 288

Capital instruments, equity and reserves
The notes included in this section focus on the Group’s loan capital and shareholders equity including issued share
capital, retained earnings, other equity balances and interests of minority shareholders in our subsidiary entities
(non-controlling interests). For more information on capital management and how the Group maintains sufficient
capital to meet our regulatory requirements see pages 162-171.
31 Subordinated liabilities
Accounting for subordinated debt
Subordinated debt is measured at amortised cost using the effective interest method under IAS 39.
Subordinated liabilities include accrued interest and comprise undated and dated loan capital as follows:
2012
£m
2011
£m
Undated subordinated liabilities 6,740 6,741
Dated subordinated liabilities 17,278 18,129
Total subordinated liabilities 24,018 24,870
None of the Group’s loan capital is secured. Regulatory capital differs from the amounts recorded in the balance sheet due to FSA requirements
relating to: capital eligibility criteria; amortisation of principal in the final five years to maturity; and the exclusion of the impact of fair value hedging.
Undated subordinated liabilities
Subordinated liability
per balance sheet Regulatory capital
Initial call date
2012
£m
2011
£m
2012
£m
2011
£m
Barclays Bank PLC issued
Tier One Notes (TONs)
6% Callable Perpetual Core Tier One Notes 2032 116 103 89 90
6.86% Callable Perpetual Core Tier One Notes ($681m) 2032 720 753 420 440
Reserve Capital Instruments (RCIs)
5.926% Step-up Callable Perpetual Reserve Capital Instruments
($533m) 2016 393 414 327 343
7.434% Step-up Callable Perpetual Reserve Capital Instruments
($347m) 2017 261 273 213 217
6.3688% Step-up Callable Perpetual Reserve Capital Instruments 2019 117 122 95 95
14% Step-up Callable Perpetual Reserve Capital Instruments 2019 3,298 3,210 2,150 2,155
5.3304% Step-up Callable Perpetual Reserve Capital Instruments 2036 113 120 81 85
Total Tier 1 capital instruments included in subordinated liabilities 5,018 4,995 3,375 3,425
Undated Notes
6.875% Undated Subordinated Notes 2015 152 158 135 135
6.375% Undated Subordinated Notes 2017 153 157 133 133
7.7% Undated Subordinated Notes ($99m) 2018 72 75 62 64
8.25% Undated Subordinated Notes 2018 165 166 140 140
7.125% Undated Subordinated Notes 2020 215 214 158 158
6.125% Undated Subordinated Notes 2027 233 233 196 196
Junior Undated Floating Rate Notes ($121m) Any interest payment date 75 78 133 139
Undated Floating Rate Primary Capital Notes Series 3 Any interest payment date 146 146 145 145
Bonds
9.25% Perpetual Subordinated Bonds (ex-Woolwich PLC) 2021 99 99 75 75
9% Permanent Interest Bearing Capital Bonds At any time 47 46 40 40
Loans
5.03% Reverse Dual Currency Undated Subordinated Loan
(Yen 8,000m) 2028 47 53 57 66
5% Reverse Dual Currency Undated Subordinated Loan
(Yen 12,000m) 2028 72 82 86 100
Barclays SLCSM Funding B.V. guaranteed by the Bank
6.140% Fixed Rate Guaranteed Perpetual Subordinated Notes 2015 246 239 265 264
Total undated subordinated liabilities 6,740 6,741 5,000 5,080
barclays.com/annualreport286 I Barclays PLC Annual Report 2012
Notes to the financial statements
For the year ended 31 December 2012 continued