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OFFSETTING OF FINANCIAL ASSETS AND LIABILITIES (Tables)
 12 Months Ended
Dec. 31, 2020
Offset  
OFFSETTING OF FINANCIAL ASSETS AND LIABILITIES (Tables) [Line Items]  
Schedule of Offsetting of Financial Assets and Liabilities
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
if offset
of related
amounts
permitted
Gross amounts
of assets and
liabilities1
Amount offset
in the balance
sheet2
Net amounts
presented in
the balance
sheet		Cash
collateral
received/
pledged		Non-cash
collateral
received/
pledged
At 31 December 2020£m£m£m£m£m£m
Financial assets
Financial assets at fair value through profit or loss:
Excluding reverse repos158,633 — 158,633 — (2,567)156,066 
Reverse repos27,904 (14,911)12,993 (24)(12,969)— 
186,537 (14,911)171,626 (24)(15,536)156,066 
Derivative financial instruments88,700 (59,087)29,613 (8,715)(16,747)4,151 
Loans and advances to banks:
Excluding reverse repos8,060 — 8,060 (3,105)— 4,955 
Reverse repos2,694 (8)2,686 — (2,686)— 
10,754 (8)10,746 (3,105)(2,686)4,955 
Loans and advances to customers:
Excluding reverse repos440,200 — 440,200 (2,094)(2,762)435,344 
Reverse repos64,052 (5,409)58,643 — (58,643)— 
504,252 (5,409)498,843 (2,094)(61,405)435,344 
Debt securities5,405 — 5,405 — — 5,405 
Financial assets at fair value through other comprehensive income27,603 — 27,603 — (5,132)22,471 
Financial liabilities
Deposits from banks:
Excluding repos12,698 — 12,698 (8,739)— 3,959 
Repos18,775 (8)18,767 — (18,767)— 
31,473 (8)31,465 (8,739)(18,767)3,959 
Customer deposits:
Excluding repos450,651 — 450,651 (1,862)(2,762)446,027 
Repos14,826 (5,409)9,417 — (9,417)— 
465,477 (5,409)460,068 (1,862)(12,179)446,027 
Financial liabilities at fair value through profit or loss:
Excluding repos7,650 — 7,650 — — 7,650 
Repos29,907 (14,911)14,996 — (14,996)— 
37,557 (14,911)22,646 — (14,996)7,650 
Derivative financial instruments85,088 (57,775)27,313 (5,199)(20,156)1,958 
Related amounts where set off in
the balance sheet not permitted3
Potential
net amounts
if offset
of related
amounts
permitted
Gross amounts
of assets and
liabilities1
Amount offset
in the balance
sheet2
Net amounts
presented in
the balance
sheet		Cash
collateral
received/
pledged		Non-cash
collateral
received/
pledged
At 31 December 2019£m£m£m£m£m£m
Financial assets
Financial assets at fair value through profit or loss:
Excluding reverse repos148,920 — 148,920 — (2,825)146,095 
Reverse repos24,165 (12,896)11,269 (366)(10,903)— 
173,085 (12,896)160,189 (366)(13,728)146,095 
Derivative financial instruments79,735 (53,366)26,369 (7,650)(13,892)4,827 
Loans and advances to banks:
Excluding reverse repos8,220 — 8,220 (3,377)— 4,843 
Reverse repos1,555 — 1,555 — (1,555)— 
9,775 — 9,775 (3,377)(1,555)4,843 
Loans and advances to customers:
Excluding reverse repos440,388 — 440,388 (2,392)(2,123)435,873 
Reverse repos58,959 (4,359)54,600 — (54,600)— 
499,347 (4,359)494,988 (2,392)(56,723)435,873 
Debt securities5,544 — 5,544 — (211)5,333 
Financial assets at fair value through other comprehensive income25,092 — 25,092 — (5,859)19,233 
Financial liabilities
Deposits from banks:
Excluding repos10,074 — 10,074 (8,016)— 2,058 
Repos18,105 — 18,105 — (18,105)— 
28,179 — 28,179 (8,016)(18,105)2,058 
Customer deposits:
Excluding repos413,659 (1,869)411,790 (1,850)(2,123)407,817 
Repos9,530 — 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 repos10,438 — 10,438 — — 10,438 
Repos28,303 (17,255)11,048 — (11,048)— 
38,741 (17,255)21,486 — (11,048)10,438 
Derivative financial instruments77,276 (51,497)25,779 (5,770)(16,364)3,645 
1After impairment allowance.
2The amounts offset 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.
3The 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.