RBS 2013 Annual Report Download - page 221
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Business review Risk and balance sheet management
219
Deposits and repos
The table below shows the composition of the Group’s deposits and repos.
2013 2012 2011
Deposits Repos Deposits Repos Deposits Repos
£m £m £m £m £m £m
Financial institutions
- central and other banks 35,329 28,650 57,074 44,332 69,114 39,691
- other financial institutions 53,607 52,945 64,237 86,968 66,009 86,032
Personal and corporate deposits 364,062 3,539 369,755 1,072 370,744 2,780
452,998 85,134 491,066 132,372 505,867 128,503
£161 billion (or 39%) of the customer deposits included above are
insured through the UK Financial Services Compensation Scheme, US
Federal Deposit Insurance Corporation scheme and other similar
schemes. Of the personal and corporate deposits above, 53% relate to
personal customers.
Firm financing*
The Group has access to the short-term money markets to supplement
deposit and wholesale funding. The Group’s reverse repos, mainly within
Markets, are generally used to fund repos or to cover short positions. In
addition, repos are used to fund a small proportion of Markets’ trading
assets and by Group Treasury as part of the liquidity portfolio
management.
The liquidity risk the Group is exposed to through security financing
transactions is significantly lower than in relation to unsecured funding.
The Group limits any exposure by setting limits and monitoring any
mismatch of quality, maturity or currency. The exposure is also monitored
in the context of the available liquid assets.
The following table shows the Groups gross repos by quality and
maturity.
Less than More than
1 month 1 month Total
2013 £bn £bn £bn
A
A- and above 69.5 21.6 91.1
Other 27.6 7.1 34.7
Total 97.1 28.7 125.8
Key points
• 72% of the Group’s repo balance related to AA- or above collateral
reducing the exposure to re-financing risk.
*unaudited
• Of the £125.8 billion gross repos, £49.6 billion related to firm
financing.