REG - Royal Bk Scot.Grp. - Half Yearly Report - Part 3 <Origin Href="QuoteRef">RBS.L</Origin> - Part 4
29/10/2014 09:17
- Part 4: For the preceding part double click ID:nRSA9700Nc
Long positions 14,439 19,418 39,064 7,502 29,766 2,605 112,794 34,197
Of which US agencies - 5,620 - - 12,758 - 18,378 17,243
Short positions (HFT) (4,546) (10,257) (20,949) (821) (1,245) (1,042) (38,860) (34)
Available-for-sale
Gross unrealised gains 154 358 570 92 502 12 1,688 599
Gross unrealised losses (15) (90) (3) (103) (265) (3) (479) (449)
31 December 2013
Held-for-trading 6,764 10,951 22,818 1,720 12,406 1,947 56,606 10,674
Designated as at fair value - - 104 - 17 1 122 15
Available-for-sale 6,436 12,880 10,303 5,974 17,330 184 53,107 24,174
Loans and receivables 10 1 - 175 3,466 136 3,788 3,423
Long positions 13,210 23,832 33,225 7,869 33,219 2,268 113,623 38,286
Of which US agencies - 5,599 - - 13,132 - 18,731 18,048
Short positions (HFT) (1,784) (6,790) (16,087) (889) (1,387) (826) (27,763) (36)
Available-for-sale
Gross unrealised gains 201 428 445 70 386 11 1,541 458
Gross unrealised losses (69) (86) (32) (205) (493) (2) (887) (753)
Key points
· HFT: Holdings of UK and US government bonds, and ABS decreased, reflecting sales and continued focus on balance sheet reduction and capital management in CIB. The increase in other government bonds primarily reflected higher seasonal market activity in bond auctions compared with the year end, partially offset by disposals. The increase in short positions in UK and US government bonds was driven by market conditions and customer demand, while that in other government reflected hedging of higher long
positions and customer demand.
· AFS: Government securities decreased by £4.0 billion. The decreases in UK, US and other government bonds reflected net disposals as gains were realised, as well as transfers of UK government bonds to HTM in Treasury. Holdings in bank issuances fell by £0.5 billion due to maturities and disposals.
· AFS gross unrealised gains and losses: The UK and US government decreases in unrealised gains reflect exposure reductions. The increases in other government reflect market movements, and increases in banks and other financial institutions reflect maturities, disposals and market movements.
Appendix 1 Capital and risk management
Debt securities (continued)
Ratings
The table below analyses debt securities by issuer and external ratings. Ratings are based on the lowest of Standard and
Poor's, Moody's and Fitch.
Central and local government Banks Other Corporate Total
financial Of which
UK US Other institutions Total ABS
30 June 2014 £m £m £m £m £m £m £m % £m
AAA - 6 15,694 1,677 7,572 18 24,967 22 6,379
AA to AA+ 14,439 19,412 8,666 262 15,237 187 58,203 52 19,200
A to AA- - - 7,185 2,886 980 430 11,481 10 1,855
BBB- to A- - - 7,146 2,134 1,939 1,142 12,361 11 2,902
Non-investment grade - - 373 358 2,588 562 3,881 3 2,591
Unrated - - - 185 1,450 266 1,901 2 1,270
14,439 19,418 39,064 7,502 29,766 2,605 112,794 100 34,197
31 December 2013
AAA - 18 13,106 1,434 8,155 162 22,875 20 6,796
AA to AA+ 13,210 23,812 7,847 446 16,825 138 62,278 55 21,054
A to AA- - - 4,200 1,657 1,521 290 7,668 7 1,470
BBB- to A- - - 7,572 3,761 2,627 854 14,814 13 4,941
Non-investment grade - - 494 341 2,444 427 3,706 3 2,571
Unrated - 2 6 230 1,647 397 2,282 2 1,454
13,210 23,832 33,225 7,869 33,219 2,268 113,623 100 38,286
Appendix 1 Capital and risk management
Derivatives
The table below analyses the bank's derivatives by type of contract. The master netting arrangements and collateral shown
below do not result in a net presentation on the balance sheet under IFRS.
30 June 2014 31 December 2013
Notional (1) Assets Liabilities Notional (1) Assets Liabilities
£bn £m £m £bn £m £m
Interest rate (2) 29,061 223,476 212,861 35,589 218,041 208,698
Exchange rate 4,609 44,151 47,761 4,555 61,923 65,749
Credit 278 4,362 4,589 253 5,306 5,388
Equity and commodity 80 2,917 4,876 81 2,770 5,692
274,906 270,087 288,040 285,527
Counterparty mtm netting (227,622) (227,622) (241,265) (241,265) *
Cash collateral (26,405) (23,067) (24,423) (25,302) *
Securities collateral (4,894) (10,242) (5,990) (8,257) *
Net exposure 15,985 9,156 16,362 10,703 *
*Revised
Notes:
(1) Includes exchange traded contracts of £2,749 billion, (31 December 2013 - £2,298 billion) principally interest rate. Trades are margined daily hence carrying values were insignificant: assets - £72 million (31 December 2013 - £69 million) and liabilities - £265 million (31 December 2013 - £299 million).
(2) Interest rate notional includes £17,606 billion (31 December 2013 - £22,563 billion) in respect of contracts with central clearing counterparties to the extent related assets and liabilities are offset.
Key points
· Interest rate contracts: notionals balances were £6.5 trillion lower due to increased participation in trade compression cycles during the first half of 2014, following subdued activity by Tri Optima in 2013. This also resulted in reduced amounts of trades
cleared through central clearing counterparties (£5 trillion reduction). The fair value increased due to downward shifts in major yield curves due to volatility in emerging markets at the beginning of the year followed by the European Central Bank's
decision to introduce measures to aid economic recovery in June 2014. This was partially offset by decrease due to the strengthening of GBP against the US Dollar and Euro and participation in tear ups.
· Foreign exchange contracts: decrease in fair value reflects the strengthening of GBP against the US dollar and euro, and the strengthening of Japanese yen against the US dollar, as the portfolio is materially positioned long US dollar and short Japanese
yen at 30 June 2014.
· Credit derivatives fair values decreased reflecting tightening credit spreads and compression cycles.
· Uncollateralised derivatives predominantly represent those with large corporates with whom RBS may have netting arrangements in place, but whose business models do not support collateral posting capacity and sovereigns and supranational entities with one
way collateral agreements in their favour. In addition there are some uncollateralised derivative positions with banks in certain jurisdictions for example Russia, China, Malaysia which are either uncollateralised or the collateral agreements are not
deemed legally enforceable and have therefore been reported as uncollateralised.
Appendix 1 Capital and risk management (continued)
Problem debt management
For a description of early problem identification and problem debt management processes, refer to pages 242 to 251 of the
2013 Annual Report and Accounts.
Wholesale forbearance
The table below shows the loans (excluding loans where the bank has initiated recovery procedures) for which forbearance
was completed during H1 2014, by sector and between performing and non-performing.
Half year ended Year ended
30 June 2014 31 December 2013
Non- Provision Non- Provision
Performing performing coverage (2) Performing performing coverage (2)
Sector £m £m % £m £m %
Property 704 3,298 59 1,759 4,802 60
Transport 192 218 36 1,016 229 34
Retail and leisure 296 195 50 455 390 37
Services 342 115 42 405 234 77
Other 461 162 61 670 510 27
1,995 3,988 57 4,305 6,165 55
The table below analyses the incidence of the main types of wholesale forbearance arrangements by loan value.
Half year ended Year ended
30 June 31 December
2014 2013
Arrangement type (3) % %
Payment concessions and loan rescheduling 84 78
Other (4) 5 31
Covenant-only concessions 28 16
Forgiveness of all or part of the outstanding debt 4 9
Variation in margin 4 2
Notes:
(1) The data reflected changes in methodology highlighted in the 2013 Report and Accounts, and also the removal in April of the reporting threshold for forbearance data capture.
(2) Provision coverage reflects impairment provision as a percentage of non performing loan.
(3) The total exceeds 100% as an individual case can involve more than one type of arrangement.
(4) Principally formal standstill agreements and release of security.
Key points
· Forbearance completed on loans decreased during the first half of 2014 compared with the second half of 2013. This was in line both with improving market conditions and the RCR disposal strategy.
· Forbearance continued to be granted in sectors that have experienced financial stress in recent years. The property sector remained the greatest contributor to the forborne portfolio, while there was a marked fall in the transport sector during the period. Some 70% of completed forbearance in the half year related to RCR loans, of which 60% were originated by Ulster Bank. Of the forbearance granted on non-performing loans, 65% related to loans originated by Ulster Bank.
Appendix 1 Capital and risk management (continued)
Problem debt management (continued)
Key points (continued)
· Provisions for the non-performing loans disclosed above are individually assessed and therefore not directly comparable across periods. Provision coverage remained stable in H1.
· At 30 June 2014 loans totalling £5.9 billion (31 December 2013 - £9.4 billion) had been granted credit approval for forbearance but had not yet been formally documented and were not being managed in accordance with the approved forbearance strategy. These
loans are referred to as "in process" and are not included in the tables above, but 86% were non-performing (31 December 2013 - 84%) with an associated provision coverage of 54% (31 December 2013 - 44%). The principal types of forbearance offered were
consistent with the completed forbearance population. The amount of in-process forbearance fell materially in line with the completion of forbearance during H1 and with disposals in RCR, which were not offset by new in-process cases.
Retail forbearance
The table below shows the loans for which forbearance was agreed during H1 2014 split between performing and non-performing
by segment.
Ulster Private
UK PBB Bank Banking CFG Total
Half year ended 30 June 2014 £m £m £m £m £m
Performing forbearance in the half year 675 1,487 106 - 2,268
Non-performing forbearance in the half year 53 824 44 42 963
Total forbearance in the half year 728 2,311 150 42 3,231
Year ended 31 December 2013
Performing forbearance in the year 1,332 2,223 41 - 3,596
Non-performing forbearance in the year 186 1,213 22 101 1,522
Total forbearance in the year 1,518 3,436 63 101 5,118
Appendix 1 Capital and risk management (continued)
Problem debt management: Retail forbearance (continued)
The mortgage arrears information for retail accounts in forbearance and related provision at the end of the period are
shown in the tables below.
No missed 1-3 months >3 months
payments in arrears in arrears Total
Balance Provision Balance Provision Balance Provision Balance Provision Forborne balances (1)
£m £m £m £m £m £m £m £m %
30 June 2014
UK PBB (2,3) 4,556 19 401 20 385 42 5,342 81 5.2
Ulster Bank (2,3) 1,930 190 697 159 879 265 3,506 614 19.3
Private Banking 105 2 3 - 6 - 114 2 1.3
CFG 302 29 21 1 51 - 374 30 2.0
6,893 240 1,122 180 1,321 307 9,336 727 6.3
31 December 2013
UK PBB (2,3) 4,596 17 426 23 424 51 5,446 91 5.5
Ulster Bank (2,3) 1,362 166 631 76 789 323 2,782 565 14.6
Private Banking 112 3 6 - 9 - 127 3 1.5
CFG 287 26 33 3 53 - 373 29 1.9
6,357 212 1,096 102 1,275 374 8,728 688 6.0
Notes:
(1) As a percentage of mortgage loans.
(2) Forbearance in UK PBB and Ulster Bank includes all changes to the contractual payment terms, including those where the customer is up-to-date on payments and there is no evidence of financial difficulty.
(3) Includes the current stock position of forbearance deals agreed since early 2008 for UK PBB and early 2009 for Ulster Bank.
The incidence of the main types of retail forbearance on the balance sheet are analysed below.
Ulster Private
UK PBB Bank Banking CFG Total (1)
30 June 2014 £m £m £m £m £m
Interest only conversions - temporary and permanent 1,705 448 1 - 2,154
Term extensions - capital repayment and interest only 2,529 447 33 51 3,060
Payment concessions 255 1,934 11 237 2,437
Capitalisation of arrears 907 1,089 - - 1,996
Other 307 - 69 86 462
5,703 3,918 114 374 10,109
31 December 2013
Interest only conversions - temporary and permanent 1,784 512 - - 2,296
Term extensions - capital repayment and interest only 2,478 325 29 35 2,867
Payment concessions 241 1,567 12 246 2,066
Capitalisation of arrears 907 494 - - 1,401
Other 366 - 86 92 544
5,776 2,898 127 373 9,174
Note:
(1) As an individual case can include more than one type of arrangement. The analysis in the forbearance arrangements table exceeds the total value of cases subject to forbearance.
Appendix 1 Capital and risk management
Problem debt management: Retail forbearance (continued)
Key points
UK PBB
· The flow of new forbearance, £341 million in the second quarter of 2014, continued on a downward trend compared with the average of £409 million per quarter in the preceding four quarters. The flow for H1 2014 was £728 million.
· The 24 month rolling stock of forbearance (where it was provided in the previous 24 months) fell by 13% to £1.7 billion at 30 June 2014 from £2.0 billion at 31 December 2013.
· 5.2% of total mortgage assets (£5.3 billion) were subject to a forbearance arrangement from January 2008. This represented a decrease of 1.9% from 31 December 2013 (£5.4 billion).
· Approximately 85% of forbearance loans (31 December 2013 - 84%) were up-to-date with payments compared with approximately 98% of assets not subject to forbearance activity.
· The majority (96%) of UK PBB forbearance was permanent in nature (term extensions, capitalisation of arrears, historical conversions to interest only). Temporary forbearance comprises payment concessions, such as reduced or deferred payments, with arrangements typically agreed for a period between three and six months.
· The most frequently occurring forbearance types were term extensions (44% of forbearance loans at 30 June 2014), interest only conversions (30%) and capitalisations of arrears (16%). Conversions to interest only have only been permitted on a very exceptional basis since the fourth quarter of 2012 and have not been permitted for customers in financial difficulty since 2009.
· The impairment provision cover on forbearance mortgages remained significantly higher than that on assets not subject to forbearance.
Ulster Bank
· At 30 June 2014, 19.3% (£3.5 billion) of Ulster Bank's mortgage loans were subject to forbearance arrangements, an increase from 14.6% (£2.8 billion) at 31 December 2013. This reflected Ulster Bank's strategy of seeking to help customers facing financial
difficulties.
· The increase in forbearance stock from 31 December 2013 to 30 June 2014 is attributable to customers entering forbearance for the first time (48%), customers re-entering forbearance (33%) and methodology refinements primarily relating to exit criteria
(19%). The number of customers approaching Ulster Bank for assistance for the first time fell in Q2 2014 compared with Q4 2013.
· There was continued increase in the proportion of longer-term forbearance solutions granted by Ulster Bank. As a percentage of the total, 55% of forbearance loans were subject to a longer term arrangement at 30 June 2014 (31 December 2013 - 41%).
Capitalisations represented 28% (December 2013 - 17%), term extensions 11% (31 December 2013 - 11%) and interest rate discounts 16% (31 December 2013 - 13%) of the total forbearance portfolio at 30 June 2014. Interest rate discounts are offered for periods
of up to eight years and incorporate a payment concession based on the customer's ability to pay.
· The remaining forbearance loans were temporary concessions accounting for 45% of the total forborne population, (31 December 2013 - 59%). Interest only arrangements decreased during 2014 to 11% of forbearance loans at 30 June 2014 (31 December 2013 - 18%).
Payment concessions (excluding interest rate discounts) represented the remaining 34% (31 December 2013 - 41%).
· The proportion of forbearance arrangements that were less than 90 days in arrears increased from 72% (31 December 2013) to 75% (30 June 2014).
Appendix 1 Capital and risk management
Key loan portfolios
Commercial real estate*
The commercial real estate sector comprises exposures to entities involved in the development of, or investment in,
commercial and residential properties (including house builders). The analysis of lending utilisations below is gross of
impairment provisions and excludes rate risk management and contingent obligations.
30 June 2014 31 December 2013
Investment Development Total Investment Development Total
By franchise (1) £m £m £m £m £m £m
PBB 4,904 886 5,790 7,350 1,228 8,578
CPB 16,639 2,844 19,483 16,616 2,957 19,573
CIB 1,158 227 1,385 898 183 1,081
22,701 3,957 26,658 24,864 4,368 29,232
CFG 4,270 - 4,270 4,018 - 4,018
RCR/Non-Core 10,700 7,564 18,264 11,624 7,704 19,328
Total 37,671 11,521 49,192 40,506 12,072 52,578
Investment Development
Commercial Residential Total Commercial Residential Total Total
By geography (1) £m £m £m £m £m £m £m
30 June 2014
UK (excluding NI (2)) 20,384 5,199 25,583 614 3,700 4,314 29,897
Ireland (ROI and NI (2)) 3,431 936 4,367 1,814 4,925 6,739 11,106
Western Europe (other) 2,296 120 2,416 220 28 248 2,664
US 3,796 1,140 4,936 - 13 13 4,949
RoW (2) 365 4 369 - 207 207 576
30,272 7,399 37,671 2,648 8,873 11,521 49,192
31 December 2013
UK (excluding NI (2)) 20,861 5,008 25,869 678 3,733 4,411 30,280
Ireland (ROI and NI (2)) 4,405 1,028 5,433 1,919 5,532 7,451 12,884
Western Europe (other) 4,068 183 4,251 22 17 39 4,290
US 3,563 1,076 4,639 - 8 8 4,647
RoW (2) 314 - 314 30 133 163 477
33,211 7,295 40,506 2,649 9,423 12,072 52,578
For the notes to these tables refer to the following page.
*Not within the scope of Deloitte LLP's review report
Appendix 1 Capital and risk management
Key loan portfolios: Commercial real estate* (continued)
By sub-sector (1) Ireland Western
UK (ROI and Europe
(excl NI (2)) NI (2)) (other) US RoW (2) Total
£m £m £m £m £m £m
30 June 2014
Residential 8,899 5,860 149 1,153 211 16,272
Office 3,972 727 1,009 57 89 5,854
Retail 6,699 918 367 215 78 8,277
Industrial 2,892 423 22 1 14 3,352
Mixed/other 7,435 3,178 1,117 3,523 184 15,437
29,897 11,106 2,664 4,949 576 49,192
31 December 2013
Residential 8,740 6,560 200 1,085 133 16,718
Office 4,557 813 1,439 32 121 6,962
Retail 6,979 1,501 967 84 73 9,604
Industrial 3,078 454 43 30 13 3,618
Mixed/other 6,926 3,556 1,641 3,416 137 15,676
30,280 12,884 4,290 4,647 477 52,578
Notes:
(1) Data at 30 June 2014 includes commercial real estate lending from Private Banking in CPB of £1.3 billion that was excluded from the tables showing 31 December 2013 data.
(2) ROI: Republic of Ireland; NI: Northern Ireland; RoW: Rest of World.
Key points
· In line with the bank's strategy, overall gross lending exposure to commercial real estate fell by £3.4 billion, or 6% during the first half of 2014. Most of the decrease occurred in RCR exposure originated by Ulster Bank and CIB and was due to repayments,
asset sales and write-offs.
· The RCR portfolio totalled £18.3 billion, representing 37% of the bank's portfolio at 30 June 2014. Geographically, 54% of the portfolio was held in Ireland, 31% in the UK, and 14% in Western Europe.
· Following disposals in the RCR portfolio which were concentrated in Ireland and western Europe (mainly in Germany), the commercial real estate portfolio was more focused on the UK market which represented 61% of the CRE portfolio (31 December 2013 - 58%).
Approximately 45% of the UK portfolio was held in London and the south east of England at 30 June 2014 (31 December 2013 - 47%). The overall mix of sub-sector and investments and development remained broadly unchanged.A significant increase in new business
in UK residential development during the first half of 2014 to support new housing construction was offset by repayments of maturing loans, in addition to timing issues with recently agreed loans expected to be drawn as construction progressed.
*Not within the scope of Deloitte LLP's review report
Appendix 1 Capital and risk management
Key loan portfolios: Commercial real estate* (continued)
RCR Rest of the Bank Bank
Loan-to-value ratio Non- Non- Non-
Performing performing Total Performing performing Total Performing performing Total
£m £m £m £m £m £m £m £m £m
30 June 2014
<= 50% 435 67 502 8,675 179 8,854 9,110 246 9,356
> 50% and <= 70% 861 302 1,163 9,657 335 9,992 10,518 637 11,155
> 70% and <= 90% 836 673 1,509 2,297 420 2,717 3,133 1,093 4,226
> 90% and <= 100% 137 214 351 490 165 655 627 379 1,006
> 100% and <= 110% 88 761 849 248 127 375 336 888 1,224
> 110% and <= 130% 142 842 984 327 215 542 469 1,057 1,526
> 130% and <= 150% 20 875 895 166 215 381 186 1,090 1,276
> 150% 88 6,685 6,773 244 565 809 332 7,250 7,582
Total with LTVs 2,607 10,419 13,026 22,104 2,221 24,325 24,711 12,640 37,351
Minimal security (1) 7 3,394 3,401 9 31 40 16 3,425 3,441
Other (2) 233 1,604 1,837 5,928 635 6,563 6,161 2,239 8,400
Total 2,847 15,417 18,264 28,041 2,887 30,928 30,888 18,304 49,192
Total portfolio
average LTV (3) 77% 300% 255% 58% 141% 65% 60% 273% 132%
Non-Core Rest of the Bank Bank
Non- Non- Non-
Performing performing Total Performing performing Total Performing performing Total
31 December 2013 £m £m £m £m £m £m £m £m £m
<= 50% 419 142 561 7,589 143 7,732 8,008 285 8,293
> 50% and <= 70% 867 299 1,166 9,366 338 9,704 10,233 637 10,870
> 70% and <= 90% 1,349 956 2,305 2,632 405 3,037 3,981 1,361 5,342
> 90% and <= 100% 155 227 382 796 295 1,091 951 522 1,473
> 100% and <= 110% 168 512 680 643 327 970 811 839 1,650
> 110% and <= 130% 127 1,195 1,322 444 505 949 571 1,700 2,271
> 130% and <= 150% 13 703 716 356 896 1,252 369 1,599 1,968
> 150% 69 7,503 7,572 400 1,864 2,264 469 9,367 9,836
Total with LTVs 3,167 11,537 14,704 22,226 4,773 26,999 25,393 16,310 41,703
Minimal security (1) 51 3,069 3,120 9 88 97 60 3,157 3,217
Other (2) 108 1,396 1,504 5,266 888 6,154 5,374 2,284 7,658
Total 3,326 16,002 19,328 27,501 5,749 33,250 30,827 21,751 52,578
Total portfolio
average LTV (3) 75% 292% 245% 64% 187% 85% 65% 261% 142%
Notes:
(1) Total portfolio average LTV is quoted net of loans with minimal security given that the anticipated recovery rate is less than 10%. Provisions are marked against these loans where required to reflect the relevant asset quality and recovery profile.
(2) Other non-performing loans of £2.2 billion (31 December 2013 - £2.3 billion) were subject to standard provisioning policies. Other performing loans of £6.2 billion (31 December 2013 - £5.4 billion) included general corporate loans, typically unsecured, to commercial real estate companies, and major UK house builders in addition to facilities supported by guarantees. The credit quality of these exposures was consistent with that of the performing portfolio overall.
(3) Weighted average by exposure.
*Not within the scope of Deloitte LLP's review report
Appendix 1 Capital and risk management
Key loan portfolios: Commercial real estate* (continued)
Key points
· The average LTV for the performing book improved from 65% to 60% during the last six months. The performing book in the UK had a slightly better LTV at 56%. The reductions in the higher LTV buckets occurred mainly in the RCR book originated by Ulster Bank
and CIB, reflecting reductions through repayments, asset sales and write-offs. The reductions were also reflected in the greater than 150% LTV bucket, occurring mainly in Ireland and Western Europe. RCR-Ulster Bank accounted for the growth in minimal
security which was at the final stage of a reduction strategy - these are fully provided for.
· Interest payable on outstanding performing investment property secured loans was covered 1.4x and 2.9x within RCR and RBS excluding RCR, respectively.
· The proportion of the portfolio managed within the bank's standard credit processes increased from 47% at 31 December 2013 to 54% at 30 June 2014, while the proportion of the portfolio in AQ10 decreased from 22% to 18% during the period.
*Not within the scope of Deloitte LLP's review report
Appendix 1 Capital and risk management
Key loan portfolios
Residential mortgages
Total gross mortgage lending of £148.2 billion (31 December 2013 - £148.5 billion) comprised 36% of gross lending of £408.9
billion (31 December 2013 - £417.8 billion). The table below shows LTVs for the bank's major residential mortgage portfolio
totalling £147.7 billion (31 December 2013 - £146.7 billion) split between performing (AQ1-AQ9) and non-performing (AQ10),
with the average LTV calculated on a weighted value basis. Loan balances are shown at the end of the period whereas
property values are calculated using property index movements since the last formal valuation.
UK PBB Ulster Bank Private Banking CFG
Loan-to-value ratio by value Non- Non- Non- Non-
Performing performing Total Performing performing Total Performing performing Total Performing performing Total
£m £m £m £m £m £m £m £m £m £m £m £m
30 June 2014
<= 50% 28,641 321 28,962 2,078 163 2,241 3,486 8 3,494 4,532 91 4,623
> 50% and <= 70% 36,288 661 36,949 1,885 175 2,060 3,546 15 3,561 5,489 81 5,570
> 70% and <= 90% 27,961 814 28,775 2,416 257 2,673 1,344 39 1,383 5,559 103 5,662
> 90% and <= 100% 4,352 269 4,621 1,248 142 1,390 86 9 95 1,212 36 1,248
> 100% and <= 110% 1,344 149 1,493 1,313 174 1,487 70 10 80 680 23 703
> 110% and <= 130% 399 72 471 2,397 428 2,825 24 6 30 530 14 544
> 130% and <= 150% 29 5 34 2,139 525 2,664 12 4 16 127 3 130
> 150% - - - 1,777 1,020 2,797 39 7 46 60 3 63
Total with LTVs 99,014 2,291 101,305 15,253 2,884 18,137 8,607 98 8,705 18,189 354 18,543
Other (2) 506 27 533 - - - 46 1 47 382 3 385
Total
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