RBS 2013 Annual Report Download - page 272
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Business review Risk and balance sheet management
270
Balance sheet analysis continued
Financial assets continued
Gross IFRS Carrying Balance sheet Exposure
exposure offset (1) value offset (2) post offset
2012 £bn £bn £bn £bn £bn
Cash and balances at central banks 79.3 — 79.3 — 79.3
Reverse repos 143.2 (38.4) 104.8 (17.4) 87.4
Lending 464.7 (1.5) 463.2 (34.9) 428.3
Debt securities 164.6 — 164.6 — 164.6
Equity shares 15.2 — 15.2 — 15.2
Derivatives (3) 815.4 (373.5) 441.9 (408.0) 33.9
Settlement balances 8.1 (2.4) 5.7 (1.8) 3.9
Other financial assets 1.1 — 1.1 — 1.1
Total 1,691.6 (415.8) 1,275.8 (462.1) 813.7
Short positions (27.6) — (27.6) — (27.6)
Net of short positions 1,664.0 (415.8) 1,248.2 (462.1) 786.1
2011
Cash and balances at central banks 79.4 — 79.4 — 79.4
Reverse repos 138.4 (37.6) 100.8 (15.2) 85.6
Lending 517.5 — 517.5 (41.2) 476.3
Debt securities 209.1 — 209.1 — 209.1
Equity shares 15.2 — 15.2 — 15.2
Derivatives (3) 1,074.6 (544.5) 530.1 (478.9) 51.2
Settlement balances 9.2 (1.4) 7.8 (2.2) 5.6
Other financial assets 1.3 — 1.3 — 1.3
Total 2,044.7 (583.5) 1,461.2 (537.5) 923.7
Short positions (41.0) — (41.0) — (41.0)
Net of short positions 2,003.7 (583.5) 1,420.2 (537.5) 882.7
Notes:
(1) Relates to offset arrangements that comply with IFRS criteria and transactions cleared through and novated to central clearing houses, primarily London Clearing House and US Government
Securities Clearing Corporation.
(2) This reflects the amounts by which the Group’s credit risk is reduced through master netting and cash management pooling arrangements. Derivative master netting agreements include cash
pledged with counterparties in respect of net derivative liability positions and are included in lending in the table above.
(3) Includes cash collateral received against derivative assets of £24.3 billion (2012 - £34.1 billion; 2011 - £37.2 billion).