RBS 2007 Annual Report Download - page 207
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RBS Group • Annual Report and Accounts 2007 205
Financial statements
37 Analysis of changes in financing during the year
Group Company
Share capital, Share capital,
share premium share premium
and paid-in equity Subordinated liabilities and paid-in equity Subordinated liabilities
2007 2006 2007 2006 2007 2006 2007 2006
£m £m £m £m £m £m £m £m
At 1 January 13,297 12,603 27,654 28,274 13,297 12,603 8,194 9,242
Issue of ordinary shares 77 104 77 104
Issue of other equity securities 4,673 671 4,673 671
Repurchase of ordinary shares — (394) —(394)
Net proceeds from issue of
subordinated liabilities 1,018 3,027 —399
Repayment of subordinated liabilities (1,708) (1,318) (469) (547)
Net cash inflow/(outflow) from financing 4,750 381 (690) 1,709 4,750 381 (469) (148)
Acquisition of subsidiaries 2,719 —10,195 —2,719 ———
Currency translation and other adjustments 159 313 820 (2,329) 159 313 18 (900)
At 31 December 20,925 13,297 37,979 27,654 20,925 13,297 7,743 8,194
38 Analysis of cash and cash equivalents
Group Company
2007 2006 2005 2007 2006 2005
£m £m £m £m £m £m
At 1 January
– cash 28,378 25,476 23,723 11 30 60
– cash equivalents 43,273 27,073 26,298 646 1,096 249
Acquisition of subsidiaries 60,098 —————
Net cash inflow/(outflow) 17,206 19,102 2,528 916 (469) 817
At 31 December 148,955 71,651 52,549 1,573 657 1,126
Comprising:
Cash and balances at central banks 17,428 5,752 4,456 ———
Treasury bills and debt securities 6,818 1,596 998 ———
Loans and advances to banks 124,709 64,303 47,095 1,573 657 1,126
Cash and cash equivalents 148,955 71,651 52,549 1,573 657 1,126
Certain subsidiary undertakings are required to maintain balances with the Bank of England which, at 31 December 2007, amounted
to £439 million (2006 – £369 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$1 million at 31 December 2007 (2006 – US$13 million). ABN AMRO
had mandatory reserve deposits of 6 million at 31 December 2007.