Barclays 2003 Annual Report Download - page 157

45 Derivatives and other financial instruments (continued)
Interest rate repricing – as at 31st December 2002
Over three Over Over Over Over
months but six months one year three years five years
Not more not more but not but not but not but not Over Non-
than three than six more than more than more than more than ten interest Trading
months months one year three years five years ten years years bearing balances Total
restated restated restated
£m £m £m £m £m £m £m £m £m £m
Assets:
Treasury bills and other
eligible bills 261 87 42 21 ––––7,234 7,645
Loans and advances
to banks 2,844 35 56 44 1 84 – 281 54,829 58,174
Loans and advances
to customers 94,934 4,302 6,239 9,106 5,692 3,886 1,251 861 76,127 202,398
Debt securities
and equity shares 3,794 174 87 1,173 434 313 254 956 90,173 97,358
Other assets 758––––––11,322 18,123 30,203
Total assets 102,591 4,598 6,424 10,344 6,127 4,283 1,505 13,420 246,486 395,778
Liabilities:
Deposits by banks 3,348 298 40 352 291 263 – 53 82,789 87,434
Customer accounts 109,670 1,978 1,957 2,142 97 13 355 13,454 41,832 171,498
Debt securities in issue 3,180 248 15 803 1,089 31 80 – 40,439 45,885
Other liabilities –––––––8,493 55,574 64,067
Loan capital and other
subordinated liabilities 2,565 621 100 – 37 3,511 4,703 – – 11,537
Minority and other interests
and shareholders’ funds –––––––15,357 – 15,357
Internal funding of
trading business (14,966) (3,570) 124 (977) 21 (48) 391 (6,827) 25,852 –
Total liabilities 103,797 (425) 2,236 2,320 1,535 3,770 5,529 30,530 246,486 395,778
Off-balance sheet items (13,222) (1,205) (3,316) 4,544 5,956 3,601 3,642 – – –
Interest rate repricing gap (14,428) 3,818 872 12,568 10,548 4,114 (382) (17,110) – –
Cumulative gap (14,428) (10,610) (9,738) 2,830 13,378 17,492 17,110 – – –
Non-trading currency risk
Non-trading currency risk exposure arises principally from the Group’s investments in overseas branches and subsidiary and associated undertakings,
principally in the United States, Japan and Europe.
The Group’s structural currency exposures at 31st December 2003 were as follows:
Net investments in Borrowings which hedge Remaining structural
overseas operations the net investments currency exposures
2003 2002 2003 2002 2003 2002
Functional currency of the operation involved £m £m £m £m £m £m
United States Dollar 1,448 1,078 1,166 959 282 119
Yen 3,063 2,125 2,984 2,094 79 31
Euro 4,333 2,930 3,520 2,633 813 297
Other non-Sterling 700 512 255 164 445 348
Total 9,544 6,645 7,925 5,850 1,619 795
In accordance with Group policy, as at 31st December 2003 and 31st December 2002, there were no material net currency exposures in the non-
trading book relating to transactional (or non-structural) positions that would give rise to net currency gains and losses recognised in the profit and
loss account. Instruments used in hedging non-trading exposures are described on pages 66 to 69.
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