Barclays 2009 Annual Report Download - page 260

258 Barclays PLC Annual Report 2009 www.barclays.com/annualreport09
Notes to the accounts
For the year ended 31st December 2009
continued
42 Related party transactions and Directors’ remuneration continued
No guarantees, pledges or commitments have been given or received in respect of these transactions in 2009, 2008 or 2007.
Derivatives transacted on behalf of the Pensions Funds Unit Trusts and Investment Funds amounted to £192m (2008: £318m, 2007: £22m).
In 2008 Barclays paid £12m (2007: £18m) of its charitable donations through the Charities Aid Foundation, a registered charitable organisation, in which
a Director of the Company was a Trustee. In 2009, following personnel changes, Charities Aid Foundation is not a related party.
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.
There were no material related party transactions with Entities under common directorship 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 2009 were as follows:
Directors, other Key Management
Personnel and connected persons
2009 2008 2007
£m £m £m
Loans outstanding at 1st January 7.3 7.4 7.8
Loans issued during the year 1.9 6.9 2.7
Loan repayments during the year (1.6) (5.5) (3.2)
Loans outstanding at 31st December 7.6 8.8 7.3
Interest income earned 0.1 0.4 0.4
No allowances for impairment were recognised in respect of loans to Directors or other members of Key Management Personnel (or any connected person)
in 2009, 2008 or 2007.
2009 2008 2007
£m £m £m
Deposits outstanding at 1st January 28.7 8.9 15.0
Deposits received during the year 160.0 235.7 114.4
Deposits repaid during the year (158.0) (221.9) (115.0)
Deposits outstanding at 31st December 30.7 22.7 14.4
Interest expense on deposits 0.1 0.5 0.6
During 2009 the membership of the Group Executive Committee increased. These additional persons became Officers of the Group and as such are
included in Key Management Personnel for 2009, but not 2008.
Of the loans outstanding above, £0.1m (2008: £1.6m, 2007: £nil) 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, £3.7m (2008: £6.1m, 2007: £2.8m) related to Directors and other
Key Management Personnel (and persons connected to them) that left the Group during the year. The amounts disclosed as at 1st January includes
deposits outstanding for those who became Directors or Key Management Personnel during the year.
All loans to Directors and other Key Management Personnel (and persons connected to them), (a) were made in the ordinary course of business, (b) were
made on substantially the same terms, including interest rates and collateral, as those prevailing at the same time for comparable transactions with other
persons and (c) did not involve more than a normal risk of collectability or present other unfavourable features; with the exception of £692 provided on an
interest free basis.
A loan of £692 provided on an interest free basis was granted to one non-Director member of Barclays Key Management to purchase a commuter rail ticket.
The maximum loan outstanding during the year was £692. Commuter rail ticket loans are provided to all Barclays staff members upon request on the
same terms.