RBS 2004 Annual Report Download - page 158
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156
Notes on the accounts
Notes on the accounts continued
15 Debt securities
Gross Gross Gross Gross
2004 unrecognised unrecognised 2004 2003 unrecognised unrecognised 2003
Book value gains losses Valuation Book value gains losses Valuation
£m £m £m £m £m £m £m £m
Investment securities:
UK government 760 2 (22) 740 1,516 1 (5) 1,512
Other government 14,138 85 (44) 14,179 12,442 101 (105) 12,438
Other public sector bodies 309 1 –– 310 422 4 — 426
Bank and building society 9,319 3 (4) 9,318 11,690 4 (7) 11,687
Other issuers 10,537 78 (285) 10,330 15,464 130 (302) 15,292
35,063 169 (355) 34,877 41,534 240 (419) 41,355
Other debt securities:
UK government 1,502 1,502 1,246 1,246
Other government 12,457 12,457 10,819 10,819
Other public sector bodies 37 37 36 36
Bank and building society 604 604 407 407
Other issuers 41,548 41,548 25,907 25,907
56,148 56,148 38,415 38,415
91,211 91,025 79,949 79,770
Due within one year 18,060 16,943
Due one year and over 73,151 63,006
91,211 79,949
Investment securities:
Listed 25,201 25,198 33,067 33,001
Unlisted 9,862 9,679 8,467 8,354
35,063 34,877 41,534 41,355
Other debt securities:
Listed 28,714 28,714 16,307 16,307
Unlisted 27,434 27,434 22,108 22,108
91,211 91,025 79,949 79,770
Banking business 36,485 42,374
Trading business 54,726 37,575
Amounts above include:
Subordinated debt securities 664 890
Unamortised discounts less premiums
on investment securities 1 3
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 2004 41,440 216 (122) 41,534
Currency translation and other adjustments (1,610) (18) 2 (1,626)
Additions 41,217 –– –– 41,217
Acquisition of subsidiaries 4,013 (6) –– 4,007
Maturities and disposals (42,529) (48) 10 (42,567)
Provisions made net of write backs –– –– (71) (71)
Transfers to other debt securities (7,429) 6 1 (7,422)
Amortisation of discounts and premiums –– (9) –– (9)
Amounts written off (16) –– 16 ––
At 31 December 2004 35,086 141 (164) 35,063