Barclays 2004 Annual Report Download - page 117

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Barclays PLC Annual Report 2004
115
2004 2003 2002
Barclays Barclays Barclays Barclays Barclays Barclays
PLC Bank PLC PLC Bank PLC PLC Bank PLC
Group Group Group Group Group Group
Capital resources (as defined for regulatory purposes) £m £m £m £m £m £m
Tier 1
Called up share capital 1,614 2,316 1,642 2,302 1,645 2,293
Eligible reserves 15,670 15,656 14,657 13,997 13,405 12,757
Minority interests
– non-equity 688 – ––––
– equity 575 575 637 637 522 522
Reserve Capital Instruments(a) 1,627 1,627 1,705 1,705 1,771 1,771
Tier One Notes(a) 920 920 960 960 1,019 1,019
Less: goodwill (4,432) (4,432) (4,607) (4,607) (4,158) (4,158)
Total qualifying tier 1 capital 16,662 16,662 14,994 14,994 14,204 14,204
2004 2003 2002
£m £m £m
Tier 2
Revaluation reserves 25 25 25
General provisions 564 795 737
Qualifying subordinated liabilities(b)
Undated loan capital 3,573 3,636 3,854
Dated loan capital 5,647 5,652 4,573
Other(c) 222
Total qualifying Tier 2 capital 9,811 10,110 9,191
Tier 3: short-term subordinated liabilities(b) 286 280 203
Less: supervisory deductions
Investments not consolidated for supervisory purposes(d) (1,047) (979) (1,288)
Other deductions (496) (182) (119)
Total deductions (1,543) (1,161) (1,407)
Total net capital resources 25,216 24,223 22,191
Notes
(a) Reserve Capital Instruments (RCIs) and Tier One Notes (TONs) are included in undated loan capital in the consolidated balance sheet.
(b) Subordinated liabilities are included in Tiers 2 or 3, subject to limits laid down in the supervisory requirements. Barclays retains significant capacity to raise
additional capital within these limits.
(c) Comprises revaluation reserves attributable to minorities £2m (2003: £2m, 2002: £2m).
(d) Includes £610m (2003: £478m, 2002: £867m) of shareholders’ interest in the retail life-fund.
Net capital resources grew by 4.1% (£1bn). Tier 1 capital rose by £1.7bn with retained profits of £1.7bn and the issue of £0.7bn of preference
shares being offset by share repurchases of £0.7bn. Tier 2 capital fell by 3% (£0.3bn) and tier 3 capital remained broadly as reported at
31st December 2003. Supervisory deductions increased by £0.4bn.
The overall growth in weighted risk assets of £29.6bn comprised trading book weighted assets growth of 37% (£10.9bn) and banking book
weighted assets of 11.7% (£18.7bn).
The risk asset ratio was 11.5% (2003: 12.8%). The tier 1 ratio was 7.6% (2003: 7.9%).