RBS 2005 Annual Report Download - page 206
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204
Notes on the accounts
38 Interest received and paid Group Company
2005 2004 2005 2004
£m £m £m £m
Interest received 21,608 17,025 488 337
Interest paid (11,878) (8,164) (704) (402)
9,730 8,861 (216) (65)
39 Analysis of changes in financing during the year
Group Company
Share capital Subordinated liabilities Share capital Subordinated liabilities
2005 2004 2005 2004 2005 2004 2005 2004
£m £m £m £m £m £m £m £m
At 1 January 13,786 8,944 20,366 16,998 13,786 8,944 5,935 5,393
Implementation of IAS 32 (3,161) 7,160 (3,161) 3,308
At 1 January 2005 restated 10,625 8,944 27,526 16,998 10,625 8,944 9,243 5,393
Issue of ordinary shares 163 2,845 163 2,845
Issue of equity preference shares 1,649 1,358 1,649 1,358
Net proceeds from issue of
subordinated liabilities 1,234 4,624 337 1,424
Repayment of subordinated liabilities (1,553) (718) (1,183) (40)
Net cash inflow/(outflow) from financing 1,812 4,203 (319) 3,906 1,812 4,203 (846) 1,384
Acquisitions of subsidiaries ———397 ————
Currency translation 166 179 1,067 (475) 166 179 845 (382)
Other non-cash movements — 460 —(460) —460 —(460)
At 31 December 12,603 13,786 28,274 20,366 12,603 13,786 9,242 5,935
40 Analysis of cash and cash equivalents Group Company
2005 2004 2005 2004
£m £m £m £m
At 1 January
– cash 23,723 20,937 60 19
– cash equivalents 26,298 27,184 249 64
Net cash inflow 2,528 1,900 817 226
At 31 December 52,549 50,021 1,126 309
Comprising:
Cash and balances at central banks 4,456 4,035 ——
Treasury bills and debt securities 998 3,016 ——
Loans and advances to banks repayable on demand 47,095 42,970 1,126 309
Cash and cash equivalents 52,549 50,021 1,126 309
Certain subsidiary undertakings are required to maintain balances with the Bank of England which, at 31 December 2005, amounted
to £303 million (2004 – £260 million). Certain subsidiary undertakings are required by law to maintain reserve balances with the Federal
Reserve Bank in the US. Such reserve balances amounted to US$156 million at 31 December 2005 (2004 – US$132 million).
Notes on the accounts continued