Barclays 2015 Annual Report Download - page 331

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37 Structured entities continued
Commercial paper (CP) and medium-term note conduits
The Group provided £8.5bn (2014: £9.1bn) in undrawn contractual backstop liquidity facilities to CP conduits.
Fund management entities
Barclays has contractually guaranteed the performance of certain cash investments in a number of managed investment funds which have resulted
in their consolidation. As at 31 December 2015, the notional value of the guarantee was £257m (2014: £585m). The decrease is primarily due to the
closure of a number of European wealth funds during the year.
Employee benefit and other trusts
The Group provides capital contributions to employee share trusts to enable them to meet their obligations to employees under share-based
payment plans. During 2015, the Group provided undrawn liquidity facilities of £784m (2014: £332m) to certain trusts.
Unconsolidated Structured Entities in which the Group has an interest
An interest in a structured entity is any form of contractual or non-contractual involvement which creates variability in returns arising from the
performance of the entity for the Group. Such interests include holdings of debt or equity securities, derivatives that transfer financial risks from the
entity to the Group, lending, loan commitments, financial guarantees and investment management agreements.
Interest rate swaps, foreign exchange derivatives that are not complex and which expose the Group to insignificant credit risk by being senior in the
payment waterfall of a securitisation and derivatives that are determined to introduce risk or variability to a structured entity are not considered to be
an interest in an entity and have been excluded from the disclosures below.
The nature and extent of the Group’s interests in structured entities is summarised below:
Summary of interests in unconsolidated structured entities
Secured
financing
£m
Short-term
traded
interests
£m
Traded
derivatives
£m
Other
interests
£m
Total
£m
As at December 2015
Assets
Trading portfolio assets – 8,949 – 1,648 10,597
Financial assets designated at fair value 12,382 – – 353 12,735
Derivative financial instruments – – 4,427 1,926 6,353
Available for sale investments – – – 1,060 1,060
Loans and advances to banks – – – 4,067 4,067
Loans and advances to customers – – – 27,700 27,700
Reverse repurchase agreements and other similar secured lending 7,117 – – – 7,117
Other assets – – – 31 31
Total assets 19,499 8,949 4,427 36,785 69,660
Liabilities
Derivative financial instruments – – 2,761 1,926 4,687
As at December 2014
Assets
Trading portfolio assets – 14,538 – 3,668 18,206
Financial assets designated at fair value – – – 963 963
Derivative financial instruments – – 5,207 1,594 6,801
Available for sale investments – – – 1,216 1,216
Loans and advances to banks – – – 4,277 4,277
Loans and advances to customers – – – 30,067 30,067
Reverse repurchase agreements and other similar secured lending 37,139 – – – 37,139
Other assets – – – 38 38
Total assets 37,139 14,538 5,207 41,823 98,707
Liabilities
Derivative financial instruments – – 5,222 1,514 6,736
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