RBS 2003 Annual Report Download - page 173

171
Annual Report and Accounts 2003
Notes on the accounts
Non-equity shareholders’ funds:
2003 2002
£m £m
Non-cumulative preference shares of US$0.01 1,140 1,628
Non-cumulative convertible preference shares of US$0.01 1,058 1,169
Non-cumulative convertible preference shares of 0.01 528 486
Non-cumulative convertible preference shares of £0.01 196 196
Cumulative preference shares of £1 11
Total preference shares 2,923 3,480
Additional Value Shares of £0.01 — 27
2,923 3,507
35 Lease commitments
The annual rental commitments of the Group under non-cancellable operating leases were as follows:
2003 2002
Premises Equipment Premises Equipment
£m £m £m £m
Expiring within one year 76 74
Expiring between one and five years 39 9 39 13
Expiring after five years 200 1 184 —
246 16 230 17
36 Analysis of total assets and liabilities
2003 2002
£m £m
Assets: denominated in sterling 233,570 220,259
denominated in currencies other than sterling 221,705 191,741
455,275 412,000
Liabilities: denominated in sterling 234,284 216,013
denominated in currencies other than sterling 220,991 195,987
455,275 412,000
37 Collateral given and received under repurchase transactions
The Group enters into securities repurchase agreements and securities lending transactions under which it receives or transfers cash
or securities as collateral in accordance with normal market practice. Securities transferred under repurchase transactions included
within securities on the balance sheet were as follows:
2003 2002
£m £m
Treasury and other eligible bills 761 1,820
Debt securities 24,231 23,299
24,992 25,119
Of the above securities, £25.0 billion (2002 – £25.1 billion) could be resold or repledged by the holder. Securities received as collateral
under reverse repurchase agreements amounted to £57.7 billion (2002 – £46.1 billion), of which £53.6 billion (2002 – £39.3 billion) had
been resold or repledged as collateral for the Group’s own transactions.