Barclays 2004 Annual Report Download - page 174

Notes to the accounts
For the year ended 31st December 2004
37 Derivatives and other financial instruments (continued)
Interest rate repricing – as at 31st December 2003
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
£m £m £m £m £m £m £m £m £m £m
Assets:
Treasury bills and other
eligible bills 592 28 33 35––––6,489 7,177
Loans and advances
to banks 2,632 2 53 48 9 – – 212 58,968 61,924
Loans and advances
to customers 104,397 4,679 7,155 11,739 6,007 2,388 1,102 882 88,470 226,819
Debt securities
and equity shares 721 66 420 898 580 259 250 272 101,786 105,252
Other assets 338––––––12,850 20,825 34,013
Total assets 108,680 4,775 7,661 12,720 6,596 2,647 1,352 14,216 276,538 435,185
Liabilities:
Deposits by banks 4,247 275 105 202 29 235 – 357 88,642 94,092
Customer accounts 118,981 1,369 1,749 1,407 103 13 240 14,056 46,950 184,868
Debt securities in issue 7,101 55 – 1,345 206 – 122 – 40,740 49,569
Other liabilities –––––––9,576 68,084 77,660
Loan capital and other
subordinated liabilities 3,060 499 22 22 536 3,649 4,551 – – 12,339
Minority and other interests
and shareholders’ funds –––––––16,657 – 16,657
Internal funding of
trading business (22,649) (2,590) (530) 1,080 666 – 269 (8,368) 32,122 –
Total liabilities 110,740 (392) 1,346 4,056 1,540 3,897 5,182 32,278 276,538 435,185
Off-balance sheet items (16,637) (10,301) (464) 11,341 8,448 4,114 3,499–––
Interest rate repricing gap (18,697) (5,134) 5,851 20,005 13,504 2,864 (331) (18,062) – –
Cumulative gap (18,697) (23,831) (17,980) 2,025 15,529 18,393 18,062–––
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 2004 were as follows:
Net investments in Borrowings which hedge Remaining structural
overseas operations the net investments currency exposures
2004 2003 2004 2003 2004 2003
Functional currency of the operation involved £m £m £m £m £m £m
United States Dollar 2,050 1,448 2,038 1,166 12 282
Yen 2,594 3,063 2,589 2,984 579
Euro 3,148 4,333 3,102 3,520 46 813
Other non-Sterling 753 700 332 255 421 445
Total 8,545 9,544 8,061 7,925 484 1,619
In accordance with Group policy, as at 31st December 2004 and 31st December 2003, 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 page 71.
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