Barclays 2013 Annual Report Download - page 307

Note 18: Fair value of assets and liabilities continued
The following table shows the Group’s assets and liabilities that are held at fair value disaggregated by valuation technique (fair value hierarchy)
and balance sheet classification:
Valuation technique using
Quoted
market
prices
(Level 1)
£m
Observable
inputs
(Level 2)
£m
Significant
unobservable
inputs
(Level 3)
£m
Total
£m
As at 31 December 2013
Trading portfolio assets 54,363 72,285 6,421 133,069
Financial assets designated at fair value 11,188 9,010 18,770 38,968
Derivative financial assets 3,353 315,969 5,013 324,335
Available for sale investments 36,050 53,561 2,145 91,756
Investment property – – 451 451
Non current assets held for sale – – 114 114
Total assets 104,954 450,825 32,914 588,693
Trading portfolio liabilities (29,450) (24,014) – (53,464)
Financial liabilities designated at fair value (98) (63,058) (1,640) (64,796)
Derivative financial liabilities (3,952) (312,363) (4,319) (320,634)
Total Liabilities (33,500) (399,435) (5,959) (438,894)
As at 31 December 2012
Trading portfolio assets 51,639 86,199 8,514 146,352
Financial assets designated at fair value 14,518 26,025 6,086 46,629
Derivative financial assets 2,863 460,076 6,217 469,156
Available for sale investments 28,949 43,280 2,880 75,109
Investment property – – 1,686 1,686
Non current assets held for sale ––––
Total assets 97,969 615,580 25,383 738,932
Trading portfolio liabilities (20,294) (24,498) (2) (44,794)
Financial liabilities designated at fair value (182) (76,024) (2,355) (78,561)
Derivative financial liabilities (2,666) (455,068) (4,987) (462,721)
Total Liabilities (23,142) (555,590) (7,344) (586,076)
There are no assets or liabilities measured at fair value on a non-recurring basis.
Included in financial assets designated at fair value is the Education, Social Housing and Local Authority (ESHLA) loan portfolio of £15.6bn (2012:
£17.6bn). This was transferred from Level 2 to Level 3 following reassessment of the significance of unobservable loan spreads on valuation. The
valuation of the ESHLA portfolio continues to be based on internally modelled spreads. Valuation uncertainty arises mainly from the long dated
nature of the portfolio, the lack of active secondary market in the loans and the lack of observable loan spreads.
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