RBS 2008 Annual Report Download - page 259

RBS Group Annual Report and Accounts 2008258
Notes on the accounts continuedNotes on the accounts continued
36 Analysis of changes in financing during the year
Group Company
Share capital, Share capital,
share premium, paid-in share premium, paid-in
equity and merger reserve Subordinated liabilities equity and merger reserve Subordinated liabilities
2008 2007 2008 2007 2008 2007 2008 2007
£m £m £m £m £m £m £m £m
At 1 January 31,806 24,178 38,043 27,654 20,925 13,297 7,743 8,194
Issue of ordinary shares 49 77 49 77
Issue of other equity securities — 4,673 —4,673
Placing and open offer 19,741 —19,741
Rights issue 12,000 —12,000
Net proceeds from issue of
subordinated liabilities 2,413 1,018 —
Repayment of subordinated liabilities (1,727) (1,708) (469)
Net cash inflow/(outflow) from financing 31,790 4,750 686 (690) 31,790 4,750 —(469)
Acquisition of subsidiaries — 2,719 —10,256 —2,719 ——
Transfer to retained earnings (14,273) ———(14,273) ———
Currency translation and other adjustments — 159 10,425 823 —159 2,571 18
At 31 December 49,323 31,806 49,154 38,043 38,442 20,925 10,314 7,743
37 Analysis of cash and cash equivalents
Group Company
2008 2007 2006 2008 2007 2006
£m £m £m £m £m £m
At 1 January
– cash 52,796 28,378 25,476 511 30
– cash equivalents 96,159 43,273 27,073 1,568 646 1,096
148,955 71,651 52,549 1,573 657 1,126
Acquisition of subsidiaries — 60,098 — ———
Disposal of subsidiaries (3,171) —————
Net cash (outflow)/inflow (10,859) 17,206 19,102 3,496 916 (469)
At 31 December 134,925 148,955 71,651 5,069 1,573 657
Comprising:
Cash and balances at central banks 12,007 17,428 5,752 ———
Treasury bills and debt securities 15,623 6,818 1,596 ———
Loans and advances to banks 107,295 124,709 64,303 5,069 1,573 657
Cash and cash equivalents 134,925 148,955 71,651 5,069 1,573 657
Certain subsidiary undertakings are required to maintain balances with the Bank of England which, at 31 December 2008, amounted to £393 million
(2007 – £439 million). Certain subsidiary undertakings are required by law to maintain reserve balances with the Federal Reserve Bank in the US.
Such reserve balances were nil at 31 December 2008 (2007 – US$1 million). ABN AMRO had mandatory reserve deposits of 3 million at
31 December 2008 (2007 – 6 million).