RBS 2011 Annual Report Download - page 121

RBS Group 2011 119
The table below shows the Group’s debt securities in issue and subordinated liabilities by remaining maturity.
Debt securities in issue
Conduit
ABCP
Other
CP and
CDs MTNs
Covered
bonds Securitisations Total
Subordinated
liabilities
Total
notes
issued
Total
notes
issued
2011 £m £m £m £m £m £m £m £m %
Less than 1 year 11,164 21,396 36,302 — 27 68,889 624 69,513 36.8
1-3 years — 278 26,595 2,760 479 30,112 3,338 33,450 17.7
3-5 years — 2 16,627 3,673 — 20,302 7,232 27,534 14.6
More than 5 years — 1 26,185 2,674 14,458 43,318 15,125 58,443 30.9
11,164 21,677 105,709 9,107 14,964 162,621 26,319 188,940 100.0
2010
Less than 1 year 17,320 46,051 30,589 — 88 94,048 964 95,012 38.7
1-3 years —702 47,357 1,078 12 49,149 754 49,903 20.3
3-5 years —12 21,466 1,294 34 22,806 8,476 31,282 12.8
More than 5 years — 5 31,614 1,728 19,022 52,369 16,859 69,228 28.2
17,320 46,770 131,026 4,100 19,156 218,372 27,053 245,425 100.0
2009
Less than 1 year 25,583 76,008 33,696 — 1,614 136,901 2,144 139,045 50.0
1-5 years —895 69,400 — 142 70,437 4,235 74,672 26.9
More than 5 years —16 22,704 — 16,271 38,991 25,159 64,150 23.1
25,583 76,919 125,800 — 18,027 246,329 31,538 277,867 100.0
Key point
xDebt securities in issue with a maturity of less than one year declined £25.1 billion from £94.0 billion at 31 December 2010 to £68.9 billion at 31
December 2011, largely due to the maturity of £20.1 billion of notes issued under the UK Government’s Credit Guarantee Scheme (CGS). The
remaining notes issued under the CGS are due to mature in 2012, £15.6 billion in the first quarter of the year and £5.7 billion in the second quarter.
Short-term borrowings*
Short-term borrowings comprise repurchase agreements, borrowings from financial institutions, commercial paper and certificates of deposit. Derivative
collateral received from financial institutions is excluded from the table below, as are certain long-term borrowings.
The table below shows details of the Group’s short-term borrowings.
Repurchase
agreements
Financial
institutions
(1,2) CP CDs
2011
Total
Repurchase
agreements
Financial
institutions
(1,2) CP CDs
2010
Total
2009
Total
At year end
- balance (£bn) 129 93 16 16 254 115 92 26 38 271 242
- weighted average interest
rate 0.6% 0.9% 0.9% 1.4% 0.8%
0.5% 0.6% 0.7% 0.6% 0.6% 0.8%
During the year
- maximum balance (£bn) 175 111 32 39 357
157 127 37 57 378 357
- average balance (£bn) 142 93 22 31 288 137 109 34 50 330 292
- weighted average interest
rate 0.9% 1.1% 0.7% 1.2% 1.0%
0.6% 0.8% 0.9% 1.0% 0.7% 1.9%
Notes:
(1) Excludes derivative cash collateral of £41 billion at 31 December 2011 (2010 - £38 billion; 2009 - £33 billion), 2011 average of £35 billion (2010 - £34 billion; 2009 - £40 billion).
(2) Excludes Federal Home Loan Bank’s long-term borrowings of £1 billion at 31 December 2011 (2010 - £1 billion), 2011 average of £1 billion (2010 - £1 billion).
Balances are generally based on monthly data. Average interest rates during the year are computed by dividing total interest expense by the average
amount borrowed. Average interest rates at year end are average rates for a single day and as such may reflect one-day market distortions, which may
not be indicative of generally prevailing rates.