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OFFSETTING OF FINANCIAL ASSETS AND LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2019

OFFSETTING OF FINANCIAL ASSETS AND LIABILITIES (Tables) [Line Items]

Disclosure of Offsetting of Financial Assets and Liabilities [text block]

The following information relates to financial assets and liabilities which have been offset in the balance sheet and those which have not been offset but for which the Group has enforceable master netting agreements or collateral arrangements in place with counterparties.

								Related amounts where set off in the balance sheet not permitted³						Potential net amounts
At 31 December 2019	Gross amounts of assets and liabilities¹ £m		Amounts offset in the balance sheet² £m			Net amounts presented in the balance sheet £m		Cash collateral received/ pledged £m			Non-cash collateral received/ pledged £m			if offset of related amounts permitted £m
Financial assets
Financial assets at fair value through profit or loss:
Excluding reverse repos		148,920		–			148,920		–			(2,825	)		146,095
Reverse repos		24,165		(12,896	)		11,269		(366	)		(10,903	)		–
		173,085		(12,896	)		160,189		(366	)		(13,728	)		146,095
Derivative financial instruments		79,735		(53,366	)		26,369		(7,650	)		(13,892	)		4,827
Loans and advances to banks:
Excluding reverse repos		8,220		–			8,220		(3,377	)		–			4,843
Reverse repos		1,555		–			1,555		–			(1,555	)		–
		9,775		–			9,775		(3,377	)		(1,555	)		4,843
Loans and advances to customers:
Excluding reverse repos		440,388		–			440,388		(2,392	)		(2,123	)		435,873
Reverse repos		58,959		(4,359	)		54,600		–			(54,600	)		–
		499,347		(4,359	)		494,988		(2,392	)		(56,723	)		435,873
Debt securities		5,544		–			5,544		–			(211	)		5,333
Financial assets at fair value through other comprehensive income		25,092		–			25,092		–			(5,859	)		19,233
Financial liabilities
Deposits from banks:
Excluding repos		10,074		–			10,074		(8,016	)		–			2,058
Repos		18,105		–			18,105		–			(18,105	)		–
		28,179		–			28,179		(8,016	)		(18,105	)		2,058
Customer deposits:
Excluding repos		413,659		(1,869	)		411,790		(1,850	)		(2,123	)		407,817
Repos		9,530		–			9,530		–			(9,530	)		–
		423,189		(1,869	)		421,320		(1,850	)		(11,653	)		407,817
Financial liabilities at fair value through profit or loss:
Excluding repos		10,438		–			10,438		–			–			10,438
Repos		28,303		(17,255	)		11,048		–			(11,048	)		–
		38,741		(17,255	)		21,486		–			(11,048	)		10,438
Derivative financial instruments		77,276		(51,497	)		25,779		(5,770	)		(16,364	)		3,645

								Related amounts where set off in the balance sheet not permitted³						Potential net amounts
At 31 December 2018	Gross amounts of assets and liabilities¹ £m		Amounts offset in the balance sheet² £m			Net amounts presented in the balance sheet £m		Cash collateral received/ pledged £m			Non-cash collateral received/ pledged £m			if offset of related amounts permitted £m
Financial assets
Financial assets at fair value through profit or loss:
Excluding reverse repos		130,172		–			130,172		–			(978	)		129,194
Reverse repos		33,472		(5,115	)		28,357		(622	)		(27,735	)		–
		163,644		(5,115	)		158,529		(622	)		(28,713	)		129,194
Derivative financial instruments		78,607		(55,012	)		23,595		(6,039	)		(15,642	)		1,914
Loans and advances to banks:
Excluding reverse repos		5,822		–			5,822		(2,676	)		–			3,146
Reverse repos		461		–			461		–			(461	)		–
		6,283		–			6,283		(2,676	)		(461	)		3,146
Loans and advances to customers:
Excluding reverse repos		447,020		(2,645	)		444,375		(1,319	)		(3,241	)		439,815
Reverse repos		42,494		(2,011	)		40,483		–			(40,483	)		–
		489,514		(4,656	)		484,858		(1,319	)		(43,724	)		439,815
Debt securities		5,238		–			5,238		–			–			5,238
Financial assets at fair value through other comprehensive income		24,815		–			24,815		–			(5,361	)		19,454
Financial liabilities
Deposits from banks:
Excluding repos		9,150		–			9,150		(5,291	)		–			3,859
Repos		21,170		–			21,170		–			(21,170	)		–
		30,320		–			30,320		(5,291	)		(21,170	)		3,859
Customer deposits:
Excluding repos		417,652		(1,404	)		416,248		(1,370	)		(3,241	)		411,637
Repos		1,818		–			1,818		–			(1,818	)		–
		419,470		(1,404	)		418,066		(1,370	)		(5,059	)		411,637
Financial liabilities at fair value through profit or loss:
Excluding repos		8,952		–			8,952		–			–			8,952
Repos		28,721		(7,126	)		21,595		–			(21,595	)		–
		37,673		(7,126	)		30,547		–			(21,595	)		8,952
Derivative financial instruments		77,626		(56,253	)		21,373		(3,995	)		(17,313	)		65

1	After impairment allowance.

2	The amounts set off in the balance sheet as shown above represent derivatives and repurchase agreements with central clearing houses which meet the criteria for offsetting under IAS 32.

3	The Group enters into derivatives and repurchase and reverse repurchase agreements with various counterparties which are governed by industry standard master netting agreements. The Group holds and provides cash and securities collateral in respective of derivative transactions covered by these agreements. The right to set off balances under these master netting agreements or to set off cash and securities collateral only arises in the event of non-payment or default and, as a result, these arrangements do not qualify for offsetting under IAS 32.