Barclays 2014 Annual Report Download - page 337

barclays.com/annualreport Barclays PLC Annual Report 2014 I 335
39 Securitisations continued
Type of transfer
Continuing involvement
as at 31 December 2013
Gain/(loss) from
continuing involvement
Carrying
amount
£m
Fair
value
£m
Maximum
exposure
to loss
£m
For the year
ended 31
December
2013
£m
Cumulative
to 31
December
2013
£m
CLO and other assets 1,911 1,883 1,911 46 (712)
US sub-prime and Alt-A 398 377 398 3 (1,221)
Commercial mortgage backed securities 241 241 241 3 (33)
Total 2,550 2,501 2,550 52 (1,966)
Assets which represent the Group’s continuing involvement in derecognised assets are recorded in the following line items:
Type of transfer
Loans and
advances
£m
Trading
portfolio
assets
£m
Derivatives
£m
Available
for sale
investments
£m
Total
£m
As at 31 December 2014
CLO and other assets 829 541 – – 1,370
US sub-prime and Alt-A 200 8 – – 208
Commercial mortgage backed securities – 200 – – 200
Total 1,029 749 – – 1,778
As at 31 December 2013
CLO and other assets 1,130 778 2 1 1,911
US sub-prime and Alt-A 321 77 – – 398
Commercial mortgage backed securities – 241 – – 241
Total 1,451 1,096 2 1 2,550
40 Assets pledged
Assets are pledged as collateral to secure liabilities under repurchase agreements, securitisations and stock lending agreements or as security
deposits relating to derivatives. The following table summarises the nature and carrying amount of the assets pledged as security against these
liabilities:
2014
£m
2013a
£m
Trading portfolio assets 50,782 69,886
Loans and advances 62,459 62,607
Other 17,056 9,043
Assets pledged 130,297 141,536
Barclays has an additional £9bn (2013: £11bn) of loans and advances within its asset backed funding programmes that can readily be used to raise
additional secured funding and available to support future issuance.
Other assets in 2014 include £6bn of loans pledged in the Spanish business which has been designated as held for sale. The 2013 balances have
not been revised.
Collateral held as security for assets
Under certain transactions, including reverse repurchase agreements and stock borrowing transactions, the Group is allowed to resell or re-pledge
the collateral held. The fair value at the balance sheet date of collateral accepted and re-pledged to others was as follows:
2014
£m
2013a
£m
Fair value of securities accepted as collateral 396,480 428,276
Of which fair value of securities re-pledged/transferred to others 313,354 355,991
The full disclosure as per IFRS 7 has been included in collateral and other credit enhancements (page 144).
Note
a 2013 has been revised to align with European Capital Requirement Regulations (CRR).
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