RBS 2003 Annual Report Download - page 157
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155
Annual Report and Accounts 2003
Notes on the accounts
14 Debt securities
Gross Gross Gross Gross
2003 unrecognised unrecognised 2003 2002 unrecognised unrecognised 2002
Book value gains losses Valuation Book value gains losses Valuation
£m £m £m £m £m £m £m £m
Investment securities:
British government 1,516 1 (5) 1,512 197 3 — 200
Other government 12,442 101 (105) 12,438 11,994 297 (2) 12,289
Other public sector bodies 422 4 — 426 708 6 — 714
Bank and building society 11,690 4 (7) 11,687 8,996 7 (2) 9,001
Other issuers 15,464 130 (302) 15,292 16,296 126 (67) 16,355
41,534 240 (419) 41,355 38,191 439 (71) 38,559
Other debt securities:
British government 1,246 1,246 1,209 1,209
Other government 10,819 10,819 5,049 5,049
Other public sector bodies 36 36 41 41
Bank and building society 407 407 2,703 2,703
Other issuers 25,907 25,907 19,849 19,849
38,415 38,415 28,851 28,851
79,949 79,770 67,042 67,410
Due within one year 16,943 14,512
Due one year and over 63,006 52,530
79,949 67,042
Investment securities:
Listed 33,067 33,001 27,416 27,790
Unlisted 8,467 8,354 10,775 10,769
41,534 41,355 38,191 38,559
Other debt securities:
Listed 16,307 16,307 10,507 10,507
Unlisted 22,108 22,108 18,344 18,344
79,949 79,770 67,042 67,410
Banking business 42,374 38,920
Trading business 37,575 28,122
Amounts above include:
Subordinated debt securities 890 468
Due from associated undertakings
– unsubordinated 1 7
Unamortised discounts less premiums
on investment securities 3 (2)
The cost of securities carried at market value is not disclosed because it cannot be determined without unreasonable expense.
Movements in debt securities which are held as investment securities were as follows:
Discounts and
Cost premiums Provisions Book value
£m £m £m £m
At 1 January 2003 38,162 97 (68) 38,191
Currency translation and other adjustments (1,642) (24) 3 (1,663)
Additions 44,561 — — 44,561
Acquisition of subsidiaries 1,918 — — 1,918
Maturities and disposals (41,504) 170 (1) (41,335)
Provisions made net of write backs — — (19) (19)
Transfers (55) — (37) (92)
Amortisation of discounts and premiums — (27) — (27)
At 31 December 2003 41,440 216 (122) 41,534