REG - Standard Chrtrd PLC - Interim Results 2014 Part 2 <Origin Href="QuoteRef">STAN.L</Origin> - Part 5
29/10/2014 10:39
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Assets Trading Derivatives held for hedging Designated at fair value through profit or loss Available- for-sale Loans and receivables Held-to- maturity Non-financial assets Total
$million $million $million $million $million $million $million $million
Cash and balances at central banks - - - - 54,534 - - 54,534
Financial assets held at fair value through profit or loss
Loans and advances to banks1 2,221 - 246 - - - - 2,467
Loans and advances to customers1 4,411 - 896 - - - - 5,307
Treasury bills and other eligible bills 5,161 - - - - - - 5,161
Debt securities 12,407 - 292 - - - - 12,699
Equity shares 2,932 - 769 - - - - 3,701
27,132 - 2,203 - - - - 29,335
Derivative financial instruments 59,765 2,037 - - - - - 61,802
Loans and advances to banks1 - - - - 83,702 - - 83,702
Loans and advances to customers1 - - - - 290,708 - - 290,708
Investment securities
Treasury bills and other eligible bills - - - 26,243 - - - 26,243
Debt securities - - - 70,546 2,828 - - 73,374
Equity shares - - - 3,099 - - - 3,099
- - - 99,888 2,828 - - 102,716
Other assets - - - - 27,435 - 6,135 33,570
Total at 31 December 2013 86,897 2,037 2,203 99,888 459,207 - 6,135 656,367
1 Further analysed in Risk review on pages 28 to 83
Liabilities at fair value
Liabilities Trading Derivatives held for hedging Designated at fair value through profit or loss Amortised cost Non-financial liabilities Total
$million $million $million $million $million $million
Financial liabilities held at fair value through profit or loss
Deposits by banks - - 1,186 - - 1,186
Customer accounts - - 9,914 - - 9,914
Debt securities in issue - - 9,052 - - 9,052
Short positions 6,764 - - - - 6,764
6,764 - 20,152 - - 26,916
Derivative financial instruments 47,117 668 - - - 47,785
Deposits by banks - - - 49,189 - 49,189
Customer accounts - - - 380,609 - 380,609
Debt securities in issue - - - 71,272 - 71,272
Other liabilities - - - 32,387 1,619 34,006
Subordinated liabilities and other borrowed funds - - - 24,691 - 24,691
Total at 30 June 2014 53,881 668 20,152 558,148 1,619 634,468
12. Financial instruments continued
Classification continued
Liabilities at fair value
Liabilities Trading Derivatives held for hedging Designated at fair value through profit or loss Amortised cost Non-financial liabilities Total
$million $million $million $million $million $million
Financial liabilities held at fair value through profit or loss
Deposits by banks - - 378 - - 378
Customer accounts - - 9,471 - - 9,471
Debt securities in issue - - 6,834 - - 6,834
Short positions 5,773 - - - - 5,773
5,773 - 16,683 - - 22,456
Derivative financial instruments 52,757 1,024 - - - 53,781
Deposits by banks - - - 45,012 - 45,012
Customer accounts - - - 371,314 - 371,314
Debt securities in issue - - - 58,690 - 58,690
Other liabilities - - - 27,405 1,314 28,719
Subordinated liabilities and other borrowed funds - - - 18,393 - 18,393
Total at 30 June 2013 58,530 1,024 16,683 520,814 1,314 598,365
Financial liabilities held at fair value through profit or loss
Deposits by banks - - 1,009 - - 1,009
Customer accounts - - 9,905 - - 9,905
Debt securities in issue - - 6,823 - - 6,823
Short positions 5,293 - - - - 5,293
5,293 - 17,737 - - 23,030
Derivative financial instruments 60,322 914 - - - 61,236
Deposits by banks - - - 43,517 - 43,517
Customer accounts - - - 381,066 - 381,066
Debt securities in issue - - - 64,589 - 64,589
Other liabilities - - - 26,008 1,330 27,338
Subordinated liabilities and other borrowed funds - - - 20,397 - 20,397
Total at 31 December 2013 65,615 914 17,737 535,577 1,330 621,173
Details on valuation and levelling, together with descriptions of the main types of financial instruments in each level are
set out in the Group's 2013 Annual report. There have been no significant changes from that detailed in the Annual report.
For instruments classified as level 2 or level 3 fair value adjustments are also made to system valuations to arrive at
fair value in accordance with the accounting requirements. In total, the Group has made $420 million (30 June 2013: $372
million, 31 December 2013: $421 million) of valuation adjustments in determining fair value for financial assets and
financial liabilities.
Valuation adjustments 30.06.14 30.06.13 31.12.13
Bid-offer 73 81 69
Credit1 165 135 187
Model 14 16 15
Funding 80 63 84
Others (including Day 1) 88 77 66
Total 420 372 421
1 Includes own debit valuation adjustments on derivatives
12. Financial instruments continued
Valuation hierarchy continued
The following tables show the classification of financial instruments held at fair value into the valuation hierarchy set out above as at 30 June 2014, 30 June 2013 and 31 December 2013.
Level 1 Level 2 Level 3 Total
Assets $million $million $million $million
Financial instruments held at fair value through profit or loss
Loans and advances to banks 253 3,843 - 4,096
Loans and advances to customers - 5,002 850 5,852
Treasury bills and other eligible bills 3,116 191 - 3,307
Debt securities 9,886 9,210 186 19,282
Of which:
Government bonds 9,570 1,659 - 11,229
Issued by corporates other than financial institutions 54 3,449 168 3,671
Issued by financial institutions 262 4,102 18 4,382
Equity shares 3,258 - 702 3,960
Derivative financial instruments 557 47,014 534 48,105
Of which:
Foreign exchange 63 29,557 352 29,972
Interest rate - 14,540 62 14,602
Commodity 493 2,171 - 2,664
Credit - 557 11 568
Equity and stock index 1 189 109 299
Investment securities
Treasury bills and other eligible bills 19,223 3,697 8 22,928
Debt securities 27,738 44,393 661 72,792
Of which:
Government bonds 16,176 6,200 81 22,457
Issued by corporates other than financial institutions 8,751 8,740 482 17,973
Issued by financial institutions 2,811 29,453 98 32,362
Equity shares 1,576 15 944 2,535
Total at 30 June 2014 65,607 113,365 3,885 182,857
Liabilities
Financial instruments held at fair value through profit or loss
Deposits by banks - 1,186 - 1,186
Customer accounts - 9,911 3 9,914
Debt securities in issue - 8,976 76 9,052
Short positions 6,192 572 - 6,764
Derivative financial instruments 641 46,784 360 47,785
Of which:
Foreign exchange 70 29,816 301 30,187
Interest rate - 14,159 18 14,177
Commodity 568 1,012 - 1,580
Credit - 1,414 1 1,415
Equity and stock index 3 383 40 426
Total at 30 June 2014 6,833 67,429 439 74,701
There are no significant transfers of financial assets and liabilities measured at fair value between Level 1 and Level 2 during the period.
12. Financial instruments continued
Valuation hierarchy continued
Level 1 Level 2 Level 3 Total
Assets $million $million $million $million
Financial instruments held at fair value through profit or loss
Loans and advances to banks 297 1,278 - 1,575
Loans and advances to customers 136 5,804 500 6,440
Treasury bills and other eligible bills 3,225 155 - 3,380
Debt securities 6,928 6,799 157 13,884
Of which:
Government bonds 6,720 1,434 3 8,157
Issued by corporates other than financial institutions 136 3,307 154 3,597
Issued by financial institutions 72 2,058 - 2,130
Equity shares 2,133 - 723 2,856
Derivative financial instruments 463 53,451 634 54,548
Of which:
Foreign exchange 130 33,787 387 34,304
Interest rate - 16,093 38 16,131
Commodity 331 2,502 - 2,833
Credit - 872 13 885
Equity and stock index 2 197 196 395
Investment securities
Treasury bills and other eligible bills 16,553 5,789 28 22,370
Debt securities 21,684 43,525 584 65,793
Of which:
Government bonds 13,282 5,551 66 18,899
Issued by corporates other than financial institutions 5,075 8,157 476 13,708
Issued by financial institutions 3,327 29,817 42 33,186
Equity shares 1,239 9 1,455 2,703
Total at 30 June 2013 52,658 116,810 4,081 173,549
Liabilities
Financial instruments held at fair value through profit or loss
Deposits by banks - 378 - 378
Customer accounts - 9,471 - 9,471
Debt securities in issue - 6,579 255 6,834
Short positions 5,197 576 - 5,773
Derivative financial instruments 652 52,711 418 53,781
Of which:
Foreign exchange 244 33,865 326 34,435
Interest rate - 15,516 25 15,541
Commodity 405 1,690 - 2,095
Credit - 1,178 14 1,192
Equity and stock index 3 462 53 518
Total at 30 June 2013 5,849 69,715 673 76,237
There are no significant transfers of financial assets and liabilities measured at fair value between Level 1 and Level 2 during the period.
12. Financial instruments continued
Valuation hierarchy continued
Level 1 Level 2 Level 3 Total
Assets $million $million $million $million
Financial instruments held at fair value through profit or loss
Loans and advances to banks 244 2,223 - 2,467
Loans and advances to customers - 4,587 720 5,307
Treasury bills and other eligible bills 4,904 257 - 5,161
Debt securities 6,596 5,944 159 12,699
Of which:
Government bonds 6,396 1,220 - 7,616
Issued by corporates other than financial institutions 79 3,211 159 3,449
Issued by financial institutions 121 1,513 - 1,634
Equity shares 2,797 - 904 3,701
Derivative financial instruments 323 60,881 598 61,802
Of which:
Foreign exchange 56 41,942 366 42,364
Interest rate - 16,013 53 16,066
Commodity 267 2,104 - 2,371
Credit - 573 13 586
Equity and stock index - 249 166 415
Investment securities
Treasury bills and other eligible bills 22,701 3,523 19 26,243
Debt securities 24,445 45,493 608 70,546
Of which:
Government bonds 14,513 5,451 64 20,028
Issued by corporates other than financial institutions 6,480 7,314 493 14,287
Issued by financial institutions 3,452 32,728 51 36,231
Equity shares 1,635 8 1,456 3,099
Total at 31 December 2013 63,645 122,916 4,464 191,025
Liabilities
Financial instruments held at fair value through profit or loss
Deposits by banks - 1,009 - 1,009
Customer accounts - 9,897 8 9,905
Debt securities in issue 7 6,777 39 6,823
Short positions 4,917 376 - 5,293
Derivative financial instruments 420 60,375 441 61,236
Of which:
Foreign exchange 84 41,738 315 42,137
Interest rate - 15,863 24 15,887
Commodity 336 1,500 - 1,836
Credit - 874 - 874
Equity and stock index - 400 102 502
Total at 31 December 2013 5,344 78,434 488 84,266
There are no significant transfers of financial assets and liabilities measured at fair value between Level 1 and Level 2 during the period.
12. Financial instruments continued
Level 3 movement tables - Financial assets
Held at fair value through profit or loss Derivative financial instruments Investment securities
Assets Loans and advances to customers Debt securities Equity shares Treasury Bills Debt securities Equity shares Total
$million $million $million $million $million $million $million $million
At 1 January 2014 720 159 904 598 19 608 1,456 4,464
Total (losses)/gains recognised in income statement (44) 3 (22) 19 - (37) 126 45
Total gains/(losses) recognised in other comprehensive income - - - - - 2 (89) (87)
Purchases 11 27 34 6 - 38 5 121
Sales - (4)
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