Barclays 2005 Annual Report Download - page 234

60 2004 Financial instruments (FRS 13) (continued)
Derivative financial instruments held for the purposes of managing non-trading exposures
The following table, which includes only the derivative components of the Group’s hedging programme, summarises the nominal values, fair values
and book values of derivatives held for the purpose of managing non-trading exposures. Included in the amounts below were £10,295m contract
amount of foreign exchange derivatives and £151,957m of interest rate derivatives which were made for asset and liability management purposes
with independently managed dealing units of the Group.
2004
Contract or Year-end Year-end Year-end Year-end
underlying positive negative positive negative
principal fair fair book book
amount value value value value
£m £m £m £m £m
Foreign exchange derivatives
Forward foreign exchange 1,480 25 14 17 2
Currency swaps 10,841 211 842 181 355
OTC derivatives 12,321 236 856 198 357
Total 12,321 236 856 198 357
Interest rate derivatives
Swaps 174,382 2,806 2,039 1,015 663
Forward rate agreements 22,039 5 5 – 5
OTC options bought and sold 4,080 41 78 3 2
OTC derivatives 200,501 2,852 2,122 1,018 670
Total 200,501 2,852 2,122 1,018 670
Credit derivatives 5,133 8 31 4 2
Equity, stock index, commodity and precious metals derivatives 1,536 70 23 3 4
The nominal amounts of OTC foreign exchange derivatives held to manage the non-trading exposure of the Group analysed by currency and final
maturity are as follows:
2004
Over one
year but not
One year more than Over five
or less five years years Total
£m £m £m £m
£/euro 352 698 – 1,050
£/yen 905 3,657 – 4,562
£/United States Dollar 194 5,205 520 5,919
United States Dollar/euro 105 130 – 235
United States Dollar/Yen 22 – 148 170
United States Dollar/South African Rand 176 – – 176
Yen/euro 28 28 – 56
Other 104 49 – 153
Total 1,886 9,767 668 12,321
Notes to the accounts
For the year ended 31st December 2005
Barclays PLC
Annual Report 2005
232