SUBORDINATED LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2017

Disclosure of subordinated liabilities [text block] [Abstract]

Disclosure of subordinated liabilities

The movement in subordinated liabilities during the year was as follows:

	Preference shares £m			Preferred securities £m			Undated subordinated liabilities £m			Dated subordinated liabilities £m			Total £m
At 1 January 2017		864			4,134			599			14,234			19,831
Issued during the year		–			–			–			–			–
Repurchases and redemptions during the year1		–			(237	)		–			(771	)		(1,008	)
Foreign exchange movements		(43	)		(221	)		(34	)		(487	)		(785	)
Other movements (all non-cash)		(8	)		14			–			(122	)		(116	)
At 31 December 2017		813			3,690			565			12,854			17,922

	Preference shares £m			Preferred securities £m			Undated subordinated liabilities £m			Enhanced capital notes £m			Dated subordinated liabilities £m			Total £m
At 1 January 2016		980			3,748			965			3,610			14,009			23,312
Issued during the year1		–			–			–			–			1,061			1,061
Tender offers and redemptions2		–			–			–			(3,568	)		–			(3,568	)
Other repurchases and redemptions during the year2		(319	)		(182	)		(475	)		–			(3,070	)		(4,046	)
Foreign exchange movements		127			511			166			93			1,854			2,751
Other movements (all non-cash)		76			57			(57	)		(135	)		380			321
At 31 December 2016		864			4,134			599			–			14,234			19,831

1 The repurchases and redemptions resulted in cash outflows of £1,008 million.

1	4.65% Subordinated Fixed Rate Notes 2026 (US$1,500 million).
2	In total, the tender offers, repurchases and redemptions resulted from cash outflows of £7,885 million.
3	Comprising Series 1 (£101 million), Series 2 (£142 million), Series 3 (£110 million).
4	Comprising notes with the following coupon rates: 13% (£244 million), 10.125% (£233 million), 11.875% (£960 million), 10.75% (£466 million), 9.875% (£456 million).

Disclosure of repurchases and redemptions during the year [text block]

Repurchases and redemptions during the year
Preferred securities	£m
7.627% Fixed to Floating Rate Guaranteed Non-voting Non-cumulative	163
Preferred Securities
4.385% Step-up Perpetual Capital Securities callable 2017 (€750 million)	74
	237

Dated subordinated liabilities	£m
Subordinated Callable Notes 2017	771
	771

Other repurchases and redemptions
Preference shares	£m
6.267% Non-Cumulative Callable Fixed to Floating Rate Preference shares callable 2016	319

Preferred securities	£m
4.939% Non-voting Non-cumulative Perpetual Preferred Securities	32
7.286% Perpetual Regulatory Tier One Securities (Series A)	150
	182

Undated subordinated liabilities	£m
7.5% Undated Subordinated Step-up Notes	5
4.25% Subordinated Undated Instruments	7
Floating Rate Primary Capital Notes	108
Primary Capital Undated Floating Rate Notes3	353
5.125% Undated subordinated Step-up Notes callable 2016	2
	475

Dated subordinated liabilities	£m
Subordinated Fixed to Fixed Rate Notes 2021 callable 20164	2,359
Callable Floating Rate Subordinated Notes 2016	329
Subordinated Callable Notes 2016	382
	3,070

1	4.65% Subordinated Fixed Rate Notes 2026 (US$1,500 million).
2	In total, the tender offers, repurchases and redemptions resulted from cash outflows of £7,885 million.
3	Comprising Series 1 (£101 million), Series 2 (£142 million), Series 3 (£110 million).
4	Comprising notes with the following coupon rates: 13% (£244 million), 10.125% (£233 million), 11.875% (£960 million), 10.75% (£466 million), 9.875% (£456 million).