Barclays 2006 Annual Report Download - page 224

Notes to the accounts
For the year ended 31st December 2006
Barclays PLC
Annual Report 2006
220
46 Related party transactions and Directors’ remuneration (continued)
Key Management Personnel
The Group’s Key Management Personnel, and persons connected with them, are also considered to be related parties for disclosure purposes.
Key Management Personnel are defined as those persons having authority and responsibility for planning, directing and controlling the activities of
Barclays PLC (directly or indirectly) and comprise the Directors of Barclays PLC and the Officers of the Group, certain direct reports of the Group Chief
Executive and the heads of major business units.
In the ordinary course of business, the Bank makes loans to companies where a Director or other member of Key Management Personnel (or any
connected person) is also a Director or other member of Key Management Personnel (or any connected person) of Barclays. These loans are made
on substantially the same criteria and terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with
other persons and did not involve more than the normal risk of collectability or present other unfavourable features.
There were no material related party transactions with companies where a Director or other member of Key Management Personnel (or any
connected person) is also a Director or other member of Key Management Personnel (or any connected person) of Barclays.
The Group provides banking services to Directors and other Key Management Personnel and persons connected to them. Transactions during the
year and the balances outstanding at 31st December 2006 were as follows:
Directors, other Key Management
Personnel and connected persons
2006 2005 2004
£m £m £m
Loans outstanding at 1st January 7.4 7.8 6.7
Loans issued during the year 2.7 3.4 2.7
Loan repayments during the year (2.3) (3.2) (1.5)
Loans outstanding at 31st December 7.8 8.0 7.9
Interest income earned 0.3 0.4 0.3
No allowances for impairment were recognised in respect of loans to Directors or other members of Key Management Personnel (or any connected
person) in 2006 or 2005.
2006 2005 2004
£m £m £m
Deposits outstanding at 1st January 4.7 2.5 5.9
Deposits received during the year 105.2 20.4 18.2
Deposits repaid during the year (94.8) (18.2) (21.1)
Deposits outstanding at 31st December 15.1 4.7 3.0
Interest expense on deposits 0.2 0.1 0.1
Fees payable and other expenses –––
Fees receivable and other income –––
Guarantees issued by the Group –––
Of the loans outstanding above, £nil (2005: £0.7m, 2004: £0.1m) relates to Directors and other Key Management Personnel (and persons connected
to them) that left the Group during the year. Of the deposits outstanding above, £0.1m (2005: £nil, 2004: £nil) relates to Directors and other Key
Management Personnel (and persons connected to them) that left the Group during the year.
All loans are provided on normal commercial terms to Directors and other Key Management Personnel (and persons connected to them), with the
exception of £3,645 of loans which are provided to non-Director members of Key Management Personnel on staff preferential interest rates (5%)
and £4,278 of loans which are provided on an interest free basis.