RBS 2004 Annual Report Download - page 173

section
03
171
Annual Report and Accounts 2004
Notes on the accounts
Financial
statements
2004 2003
Non-equity shareholders’ funds £m £m
Non-cumulative preference shares of US$0.01 1,951 1,140
Non-cumulative convertible preference shares of US$0.01 978 1,058
Non-cumulative preference shares of 0.01 864 –
Non-cumulative convertible preference shares of 0.01 529 528
Non-cumulative convertible preference shares of £0.01 197 196
Cumulative preference shares of £1 11
4,520 2,923
35 Lease commitments
The annual rental commitments of the Group under non-cancellable operating leases were as follows:
2004 2003
Premises Equipment Premises Equipment
£m £m £m £m
Expiring within one year 10 3 76
Expiring between one and five years 57 12 39 9
Expiring after five years 201 45 200 1
268 60 246 16
36 Analysis of total assets and liabilities
2004 2003
£m £m
Assets: denominated in sterling 276,291 232,779
denominated in currencies other than sterling 307,176 221,649
583,467 454,428
Liabilities: denominated in sterling 271,410 233,493
denominated in currencies other than sterling 312,057 220,935
583,467 454,428
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:
2004 2003
£m £m
Treasury and other eligible bills 1,593 761
Debt securities 32,129 24,231
33,722 24,992
All of the above securities could be resold or repledged by the holder. Securities received as collateral under reverse repurchase
agreements amounted to £91.4 billion (2003 – £57.7 billion), of which £85.1 billion (2003 – £53.6 billion) had been resold or repledged
as collateral for the Group’s own transactions.