Barclays 2014 Annual Report Download - page 317

barclays.com/annualreport Barclays PLC Annual Report 2014 I 315
Notes to the financial statements
30 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:
2014
£m
2013
£m
Undated subordinated liabilities 5,640 6,127
Dated subordinated liabilities 15,513 15,568
Total subordinated liabilities 21,153 21,695
None of the Group’s loan capital is secured.
Undated subordinated liabilities
Subordinated liabilities
per balance sheet
Initial call date
2014
£m
2013
£m
Barclays Bank PLC issued
Tier One Notes (TONs)
6% Callable Perpetual Core Tier One Notes 2032 16 105
6.86% Callable Perpetual Core Tier One Notes (US$569m) 2032 604 613
Reserve Capital Instruments (RCIs)
5.926% Step-up Callable Perpetual Reserve Capital Instruments (US$159m) 2016 112 368
7.434% Step-up Callable Perpetual Reserve Capital Instruments (US$117m) 2017 85 244
6.3688% Step-up Callable Perpetual Reserve Capital Instruments 2019 39 114
14% Step-up Callable Perpetual Reserve Capital Instruments 2019 3,065 2,951
5.3304% Step-up Callable Perpetual Reserve Capital Instruments 2036 52 107
Undated Notes
6.875% Undated Subordinated Notes 2015 140 145
6.375% Undated Subordinated Notes 2017 146 146
7.7% Undated Subordinated Notes (US$99m) 2018 69 67
8.25% Undated Subordinated Notes 2018 152 151
7.125% Undated Subordinated Notes 2020 202 198
6.125% Undated Subordinated Notes 2027 249 223
Junior Undated Floating Rate Notes (US$109m) Any interest payment date 70 66
Undated Floating Rate Primary Capital Notes Series 3 Any interest payment date 145 145
Bonds
9.25% Perpetual Subordinated Bonds (ex-Woolwich plc) 2021 94 91
9% Permanent Interest Bearing Capital Bonds At any time 46 42
Loans
5.03% Reverse Dual Currency Undated Subordinated Loan (Yen 8,000m) 2028 39 39
5% Reverse Dual Currency Undated Subordinated Loan (Yen 12,000m) 2028 54 58
Barclays SLCSM Funding B.V. guaranteed by the Bank
6.140% Fixed Rate Guaranteed Perpetual Subordinated Notes 2015 261 254
Total undated subordinated liabilities 5,640 6,127
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 184 to 190.
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