Barclays 2015 Annual Report Download - page 278

276 I Barclays PLC Annual Report 2015 home.barclays/annualreport
Notes to the financial statements
16 Available for sale financial assets
Accounting for available for sale financial assets
Available for sale financial assets are held at fair value with gains and losses being included in other comprehensive income. The Group uses this
classification for assets that are not derivatives and are not held for trading purposes or otherwise designated at fair value through profit or loss,
or at amortised cost. Dividends and interest (calculated using the effective interest method) are recognised in the income statement in Note 3 Net
interest income or Note 6 Net investment income. On disposal, the cumulative gain or loss recognised in other comprehensive income is also
included in net investment income.
2015
£m
2014
£m
Debt securities and other eligible bills 89,278 85,539
Equity securities 989 527
Available for sale investments 90,267 86,066
17 Financial liabilities designated at fair value
Accounting for liabilities designated at fair value through profit and loss
In accordance with IAS 39, financial liabilities may be designated at fair value, with gains and losses taken to the income statement within Net
trading income (Note 5) and Net investment income (Note 6). The Group has the ability to make the fair value designation when holding the
instruments at fair value reduces an accounting mismatch (caused by an offsetting liability or asset being held at fair value), or is managed by the
Group on the basis of its fair value, or includes terms that have substantive derivative characteristics (see Note 15 Derivative financial
instruments).
The details on how the fair value amounts are arrived for financial liabilities designated at fair value are described in Fair value of assets and
liabilities (Note 18).
2015 2014
Fair value
£m
Contractual
amount due
on maturity
£m
Fair value
£m
Contractual
amount due
on maturity
£m
Debt securities 33,177 36,097 42,395 44,910
Deposits 6,029 6,324 7,206 7,301
Liabilities to customers under investment contracts 1,633 – 1,823 –
Repurchase agreementsa 50,838 50,873 5,423 5,433
Other financial liabilities 68 68 125 125
Financial liabilities designated at fair value 91,745 93,362 56,972 57,769
The cumulative own credit loss recognised is £226m (2014: £716m).
Note
a During 2015, new repurchase agreements and other similar secured borrowing in certain businesses have been designated at fair value to better align to the way the business
manages the portfolio’s risk and performance.