RBS 2008 Annual Report Download - page 250
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249RBS Group Annual Report and Accounts 2008
Other collateral given
2008 2007
Group assets charged as security for liabilities £m £m
Loans and advances to banks 13 753
Loans and advances to customers 118,933 80,719
Debt securities 15,490 29,709
Property, plant and equipment — 935
Other 8 1,765
134,444 113,881
2008 2007
Liabilities secured by charges on Group assets £m £m
Deposits by banks 15,429 21,693
Customer accounts 11,050 6,670
Debt securities in issue 58,689 65,080
85,168 93,443
Note:
(1) The table above includes assets used as collateral for central bank liquidity schemes.
Of the assets above, £91.3 billion (2007 – £62.0 billion) relate to securitisations. In securitisations, debt securities are issued that are secured on
assets of the Group: the rights to the cash flows from those assets are transferred to special purpose vehicles which issue debt securities. The
holders of the notes are generally not able to sell or repledge the underlying assets. The remaining balances mainly relate to assets charged as
security against deposits from central and federal banks and other public sector bodies.
Securitisations and other asset transfers
Continued recognition
The table below sets out the asset categories together with the carrying amounts of the assets and associated liabilities for those securitisations and
other asset transfers where substantially all the risks and rewards of the asset have been retained by the Group.
2008 2007
Assets Liabilities Assets Liabilities
Asset type £m £m £m £m
Residential mortgages 49,184 20,075 23,652 23,436
Credit card receivables 3,004 3,197 2,948 2,664
Other loans 1,679 1,071 1,703 1,149
Commercial paper conduits 36,395 35,835 32,613 31,193
Finance lease receivables 1,077 857 1,038 823
91,339 61,035 61,954 59,265
Continuing involvement
At 31 December 2008, securitised assets were £1.1 billion (2007 – £18.1 billion); retained interest £50 million (2007 – £1,037 million); subordinated
assets £9 million (2007 – £314 million); and related liabilities £9 million (2007 – £314 million).