Barclays 2007 Annual Report Download - page 192

Notes to the accounts
For the year ended 31st December 2007
190 Barclays PLC Annual Report 2007
14 Derivative financial instruments (continued)
The Group has hedged the following forecast cash flows, which primarily vary with interest rates. These cash flows are expected to impact the income
statement in the following periods, excluding any hedge adjustments that may be applied:
2007
Between Between Between Between
Up to one to two to three to four to More than
Total one year two years three years four years five years five years
£m £m £m £m £m £m £m
Forecast receivable cash flows 4,329 1,593 987 903 535 254 57
Forecast payable cash flows 2,121 394 369 335 283 244 496
2006
Between Between Between Between
Up to one to two to three to four to More than
Total one year two years three years four years five years five years
£m £m £m £m £m £m £m
Forecast receivable cash flows 5,111 1,500 1,452 954 689 410 106
Forecast payable cash flows 1,280 704 349 121 73 30 3
The maximum length of time over which the Group hedges exposure to the variability in future cash flows for forecast transactions, excluding those
forecast transactions related to the payment of variable interest on existing financial instruments, is 10 years (2006: 8 years).
All gains or losses on hedging derivatives relating to forecast transactions, which are no longer expected to occur, have been recycled to the
income statement.
A loss of £66m on hedging instruments was recognised in relation to fair value hedges in net interest income (2006: £460m). A gain of £70m on the
hedged items was recognised in relation to fair value hedges in net interest income (2006: £465m).
Ineffectiveness recognised in relation to cash flow hedges in net interest income was a gain of £21m (2006: loss of £23m). Ineffectiveness recognised
in relation to hedges of net investment was a gain of £4m (2006: £13m).
15 Loans and advances to banks and customers
2007 2006
£m £m
Loans and advances to banks 40,123 30,930
Less: Allowance for impairment (3) (4)
Loans and advances to banks 40,120 30,926
Loans and advances to customers 349,167 285,631
Less: Allowance for impairment (3,769) (3,331)
Loans and advances to customers 345,398 282,300