RBS 2003 Annual Report Download - page 212
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210
Additional information continued
Additional information
Short term borrowings
2003 2002 2001
£m £m £m
Commercial paper
Outstanding at year end 6,968 3,515 273
Maximum outstanding at any month end during the year 7,032 3,515 643
Approximate average amount during the year 5,499 868 572
Approximate weighted average interest rate during the year 1.6% 2.0% 4.3%
Approximate weighted average interest rate at year end 1.5% 1.6% 4.1%
Other short term borrowings
Outstanding at year end 84,795 72,069 47,750
Maximum outstanding at any month end during the year 94,570 72,264 56,890
Approximate average amount during the year 78,004 58,246 50,628
Approximate weighted average interest rate during the year 2.2% 2.9% 4.8%
Approximate weighted average interest rate at year end 2.0% 2.2% 3.8%
Average interest rates during the year are computed by
dividing total interest expense by the average amount
borrowed. Average interest rates at year end are average rates
for a single day and as such may reflect one-day market
distortions which may not be indicative of generally prevailing
rates. Original maturities of commercial paper are not in
excess of one year. ‘Other short-term borrowings’ consist
principally of borrowings in the money markets included within
‘Deposits by banks’ and ‘Customer accounts’ in the accounts,
and generally have original maturities of one year or less.
Certificates of deposit and other time deposits
The following table shows details of the Group’s certificates of deposit and other time deposits over $100,000 or equivalent by
remaining maturity.
Over 3 months Over 6 months
Within but within but within Over 2003
3 months 6 months 12 months 12 months Total
£m £m £m £m £m
UK based companies and branches
Certificates of deposit 18,740 1,841 4,847 4,658 30,086
Other time deposits 80,123 2,460 1,116 3,758 87,457
Overseas based companies and branches
Certificates of deposit 9,049 27 — — 9,076
Other time deposits 44,640 1,677 766 861 47,944
Total 152,552 6,005 6,729 9,277 174,563