Barclays 2008 Annual Report Download - page 221

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Financial statements
16 Available for sale financial investments
2008 2007
£m £m
Debt securities 58,831 38,673
Treasury bills and other eligible bills 4,003 2,723
Equity securities 2,142 1,676
Available for sale financial investments 64,976 43,072
2008 2007
Movement in available for sale financial investments £m £m
At beginning of year 43,072 51,703
Exchange and other adjustments 14,275 1,499
Acquisitions and transfers 59,703 26,920
Disposals (through sale and redemption) (50,501) (37,498)
(Losses)/gains from changes in fair value recognised in equity (1,174) 486
Impairment (382) (13)
Amortisation of discounts/premium (17) (25)
At end of year 64,976 43,072
17 Securities borrowing, securities lending, repurchase and reverse repurchase agreements
Amounts included in the balance sheet and reported on a net basis where the Group has the intention and the legal ability to settle net or realise
simultaneously were as follows:
(a) Reverse repurchase agreements and cash collateral on securities borrowed
Amounts advanced to counterparties under reverse repurchase agreements and cash collateral provided under stock borrowing agreements are treated
as collateralised loans receivable. The related securities purchased or borrowed subject to an agreement with the counterparty to repurchase them are
not recognised on balance sheet where the risks and rewards of ownership remain with the counterparty.
2008 2007
£m £m
Banks 55,471 86,710
Customers 74,883 96,365
Reverse repurchase agreements and cash collateral held on securities borrowed 130,354 183,075
(b) Repurchase agreements and cash collateral on securities lent
Securities that are not recorded on the balance sheet (for example, securities that have been obtained as a result of reverse repurchase and stock borrow
transactions) may also be lent or sold subject to a commitment to repurchase – such securities remain off-balance sheet. In both instances, amounts
received from counterparty are treated as liabilities, which at 31st December were as follows:
2008 2007
£m £m
Banks 87,403 97,297
Customers 94,882 72,132
Repurchase agreements and cash collateral on securities lent 182,285 169,429
18 Other assets
2008 2007
£m £m
Sundry debtors 4,814 4,042
Prepayments 882 551
Accrued income 483 400
Reinsurance assets 123 157
Other assets 6,302 5,150
Included in the above are balances of £4,704m (2007: £3,859m) expected to be recovered within no more than 12 months after the balance sheet date;
and balances of £1,598m (2007: £1,291m) expected to be recovered more than 12 months after the balance sheet date.
Other assets include £3,096m (2007: £3,966m) of receivables which meet the definition of financial assets.
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