Barclays 2010 Annual Report Download - page 214
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Notes to the financial statements
For the year ended 31st December 2010 continued
12 Trading portfolio
2010
£m
2009
£m
Debt securities 139,240 126,520
Equity securities 25,613 19,602
Traded loans 2,170 2,962
Commodities 1,844 2,260
Trading portfolio assets 168,867 151,344
Debt securities (64,607) (44,708)
Equity Securities (7,568) (6,468)
Commodities (518) (76)
Trading portfolio liabilities (72,693) (51,252)
13 Financial assets designated at fair value
2010
£m
2009
£m
Loans and advances 22,352 22,390
Debt securities 1,918 4,007
Equity securities 5,685 6,256
Customers’ assets held under investment contracts 1,429 1,257
Other financial assets 10,101 8,658
Financial assets designated at fair value 41,485 42,568
The total portfolio of assets held in respect of linked liabilities to customers under investment contracts also includes £518m (2009: £422m) of cash and
bank balances included within cash and balances at central banks. The carrying value of the total assets is always the same as the carrying value of the
liabilities to customers under investment contracts as shown in Note 21. Any change in the value of the assets results in an equal but opposite change
in the value of the amounts due to the policyholders. Therefore, the Group is not exposed to the financial risks inherent in the investments.
Credit risk of loans and advances held at fair value and related credit derivatives
The following table shows the maximum exposure to credit risk, the changes in fair value due to changes in credit risk and the cumulative changes in
fair value since initial recognition on loans and advances designated at fair value together with the amount by which related credit derivatives mitigate
this risk:
Maximum Exposure as
at 31st December
Changes in fair value during
the year ended
Cumulative changes in fair
value from inception
2010 2009 2010 2009 2010 2009
Loans and advances designated at fair value, attributable to credit risk 22,352 22,390326 (2,370)(4,995) (5,321)
Fair value of related credit derivatives 2,206 1,416 (481) 229263 744
212 Barclays PLC Annual Report 2010 www.barclays.com/annualreport10