Barclays 2013 Annual Report Download - page 343

Capital instruments, equity and reserves
The notes included in this section focus on the Group’s loan capital and shareholders equity including issued
share capital, retained earnings, other equity balances and interests of minority shareholders in our subsidiary
entities (non-controlling interests). For more information on capital management and how the Group maintains
sufficient capital to meet our regulatory requirements see pages 199 to 207.
Note 31: Subordinated liabilities
Accounting for subordinated debt
Subordinated debt is measured at amortised cost using the effective interest method under IAS 39.
Subordinated liabilities include accrued interest and comprise undated and dated loan capital as follows:
2013
£m
2012
£m
Undated subordinated liabilities 6,127 6,740
Dated subordinated liabilities 15,568 17,278
Total subordinated liabilities 21,695 24,018
None of the Group’s loan capital is secured. Regulatory capital differs from the amounts recorded in the balance sheet due to PRA requirements
relating to: capital eligibility criteria; amortisation of principal in the final five years to maturity; and the exclusion of the impact of fair value
hedging.
Undated subordinated liabilities
Subordinated liability
per balance sheet Regulatory capital
Initial call date
2013
£m
2012
£m
2013
£m
2012
£m
Barclays Bank PLC issued
Tier One Notes (TONs)
6% Callable Perpetual Core Tier One Notes 2032 105 116 89 89
6.86% Callable Perpetual Core Tier One Notes (US$681m) 2032 613 720 411 420
Reserve Capital Instruments (RCIs)
5.926% Step-up Callable Perpetual Reserve Capital Instruments (US$533m) 2016 368 393 319 327
7.434% Step-up Callable Perpetual Reserve Capital Instruments (US$347m) 2017 244 261 209 213
6.3688% Step-up Callable Perpetual Reserve Capital Instruments 2019 114 117 95 95
14% Step-up Callable Perpetual Reserve Capital Instruments 2019 2,951 3,298 2,154 2,150
5.3304% Step-up Callable Perpetual Reserve Capital Instruments 2036 107 113 81 81
Total Tier 1 capital instruments included in subordinated liabilities 4,502 5,018 3,358 3,375
Undated Notes
6.875% Undated Subordinated Notes 2015 145 152 135 135
6.375% Undated Subordinated Notes 2017 146 153 133 133
7.7% Undated Subordinated Notes (US$99m) 2018 67 72 61 62
8.25% Undated Subordinated Notes 2018 151 165 139 140
7.125% Undated Subordinated Notes 2020 198 215 158 158
6.125% Undated Subordinated Notes 2027 223 233 196 196
Junior Undated Floating Rate Notes (US$121m) Any interest payment date 66 75 66 133
Undated Floating Rate Primary Capital Notes Series 3 Any interest payment date 145 146 145 145
Bonds
9.25% Perpetual Subordinated Bonds (ex-Woolwich PLC) 2021 91 99 75 75
9% Permanent Interest Bearing Capital Bonds At any time 42 47 40 40
Loans
5.03% Reverse Dual Currency Undated Subordinated Loan (Yen 8,000m) 2028 39 47 46 57
5% Reverse Dual Currency Undated Subordinated Loan (Yen 12,000m) 2028 58 72 69 86
Barclays SLCSM Funding B.V. guaranteed by the Bank
6.140% Fixed Rate Guaranteed Perpetual Subordinated Notes 2015 254 246 259 265
Total undated subordinated liabilities 6,127 6,740 4,880 5,000
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