Barclays 2013 Annual Report Download - page 180

Risk review
Credit risk continued
LTV analysis of Corporate Spain assets and collateral
As at 31 December 2013 Balances
£m
Balances as
proportion
of total
%
Collateral
held
£m
<=75% 707 24 1,770
>75% and <=85% 138 5 173
>85% and <=90% 48 2 54
>90% and <=95% 23 1 25
>95% and <=100% 68 2 70
>100% and <=125% 209 7 189
>125% 287 10 122
Unsecured balances 1,432 49 n/a
Total 2,912 100 2,403
Timely management actions were taken in Spain to address emerging issues as the downturn developed. This resulted in problems being
identified at an early stage.
Impairment allowances represented 34% of total balances to Corporate Spain (2012: 26%).
Total balances reduced 28% to £2,912m (2012: £4,064m), primarily due to debt sales and repayments. The maturity profile is well spread across
different tenor buckets with a relatively low proportion above two years.
Collateral held in the above table includes cash, investment funds, equities, mortgages, bank guarantees and state guarantees.
Analysis of debt securities
Debt securities include government securities held as part of the Group’s treasury management portfolio for asset and liability, liquidity and
regulatory purposes and are for use on a continuing basis in the activities of the Group.
The following tables provide an analysis of debt securities held by the Group for trading and investment purposes by issuer type and where the
Group held government securities exceeding 10% of shareholders’ equity.
Further information on the credit quality of debt securities is presented on page 150. Further disclosure on sovereign exposures in the Eurozone is
presented on pages 182 to 189.
Debt securities
2013 2012
As at 31 December £m £m £m £m
Of which issued by:
Governments and other public bodies 112,613 63.7 125,178 63.2
Corporate and other issuers 39,679 22.5 36,003 18.2
US agency 11,145 6.3 19,886 10.1
Mortgage and asset-backed securities 12,880 7.3 16,103 8.1
Bank and building society certificates of deposit 383 0.2 783 0.4
Total 176,700 100.0 197,953 100.0
Government securities
As at 31 December
2013
Fair value
£m
2012
Fair value
£m
United Kingdom 30,951 29,252
United States 28,979 36,740
France 9,868 6,462
South Africa 5,136 6,582
Germany 4,856 4,506
Japan 3,952 6,439
Italy 2,564 3,717
Spain 1,147 2,828
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178 Barclays PLC Annual Report 2013