RBS 2006 Annual Report Download - page 173
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RBS Group • Annual Report and Accounts 2006
172
Notes on the accounts continued
Financial statements
29 Minority interests Group
2006 2005
£m £m
At 1 January 2,109 3,492
Implementation of IAS 32 and IAS 39 on 1 January 2005 — (2,541)
Currency translation adjustments and other movements (297) 53
Profit attributable to minority interests 104 57
Dividends paid (66) (95)
Unrealised gains on available-for-sale securities 2,140 —
Equity raised 1,354 1,264
Equity withdrawn (81) (121)
At 31 December 5,263 2,109
Included in minority interests are the following trust preferred securities: (1)
2006 2005
£m £m
US$950 million 5.512% (redeemable September 2014) 529 529
US$1,000 million 3 month US$ LIBOR plus 0.80% (redeemable September 2014) 555 555
500 million 4.243% (redeemable January 2016) 337 337
£400 million 5.6457% (issued December 2006; redeemable June 2017) 400 —
1,821 1,421
Note:
(1) The trust preferred securities have no maturity date and are not redeemable at the option of the holders at any time. These securities may, with the consent of the UK Financial
Services Authority, be redeemed, in whole or in part, by the issuer on the dates specified above or on any interest payment date thereafter. They may also be redeemed in whole,
but not in part, upon the occurrence of certain tax and regulatory events. These securities are included in the company balance sheet as dated loan capital.