RBS 2005 Annual Report Download - page 176

174
Notes on the accounts
28 Subordinated liabilities Group Company
2005 2004 2005 2004
£m £m £m £m
Designated as at fair value through profit or loss 150 —
Amortised cost 28,124 9,242
28,274 9,242
Dated loan capital 12,977 11,013 2,039 4,850
Undated loan capital 10,236 9,353 1,244 1,085
Preference securities – preference shares 2,840 2,344
– trust preferred securities 2,221 3,615
28,274 20,366 9,242 5,935
On implementation of IAS 32, certain preference shares were re-classified as liabilities; these securities remain subject to the
capital maintenance rules of the Companies Act 1985.
The following tables analyse the remaining maturity of subordinated liabilities by (1) the final redemption date; and (2) the next
callable date.
Group
2006 2007 2008-2010 2011-2015 thereafter perpetual Total
2005 – final redemption £m £m £m £m £m £m £m
Sterling 51 150 — 1,123 415 1,739
US$ 412 — 811 3,537 555 5,315
Euro 129 — 836 3,003 1,164 5,132
Other 10 — 356 425 — 791
Dated loan capital 602 150 2,003 8,088 2,134 12,977
Sterling 5,709 5,709
US$ 2,723 2,723
Euro 1,681 1,681
Other 123 123
Undated loan capital 10,236 10,236
Sterling 374 374
US$ 3,829 3,829
Euro 858 858
Preference securities 5,061 5,061
602 150 2,003 8,088 2,134 15,297 28,274
Group
Currently 2006 2007 2008 – 2010 2011– 2015 thereafter perpetual Total
2005 – call date £m £m £m £m £m £m £m £m
Sterling — 51 150 — 1,188 350 1,739
US$ — 412 — 1,559 3,079 265 5,315
Euro — 129 — 1,522 2,659 822 5,132
Other — 10 — 781 — — 791
Dated loan capital — 602 150 3,862 6,926 1,437 12,977
Sterling 127 280 174 564 — 4,539 25 5,709
US$ 1,645 40 333 13 — — 692 2,723
Euro — 19 — 475 — 1,031 156 1,681
Other —————123—123
Undated loan capital 1,772 339 507 1,052 — 5,693 873 10,236
Sterling 152 — — 197 — 24 1 374
US$ 741 426 289 1,065 — 1,308 — 3,829
Euro —————858—858
Preference securities 893 426 289 1,262 — 2,190 1 5,061
2,665 1,367 946 6,176 6,926 9,320 874 28,274
Notes on the accounts continued