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Asset transfers | 12 Months Ended
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Dec. 31, 2021
Asset transfers |
Asset transfers | 25 Asset transfers This note provides an overview of asset transfers which do not qualify for derecognition and therefore continue to be recognised in NatWest Group’s balance sheet. For accounting policy information see Accounting policies note 4. ​ Transfers that do not qualify for derecognition NatWest Group enters into securities repurchase, lending and total return transactions in accordance with normal market practice which includes the provision of additional collateral if necessary. Under standard terms in the UK and US markets, the recipient has an unrestricted right to sell or repledge collateral, subject to returning equivalent securities on settlement of the transaction. Securities sold under repurchase transactions and transactions with the substance of securities repurchase agreements are not derecognised if NatWest Group retains substantially all the risks and rewards of ownership. The fair value (and carrying value) of securities transferred under such transactions included on the balance sheet, are set out below. All of these securities could be sold or repledged by the holder. ​
​ | ​ | ​ | ​ | ​
​ |  | 2021 |  | 2020
The following assets have failed derecognition (1) | ​ | £m | ​ | £m
Trading assets | ​ | 13,084 | ​ | 20,526
Loans to bank - amortised cost | ​ | 38 | ​ | 5
Loans to customers - amortised cost | ​ | 1,837 | ​ | 39
Other financial assets | ​ | 11,746 | ​ | 11,542
Total |  | 26,705 |  | 32,112
​
(1) | Associated liabilities were £24,747 million (2020 - £31,932 million).
Assets pledged as collateral NatWest Group pledges collateral with its counterparties in respect of derivative liabilities and bank and stock borrowings. ​
​ | ​ | ​ | ​ | ​
​ | ​ | 2021 | ​ | 2020
Assets pledged against liabilities |  | £m |  | £m
Trading assets | ​ | 23,601 | ​ | 28,728
Loans to banks - amortised cost |  | 62 |  | 49
Loans to customers - amortised cost |  | 20,108 |  | 15,939
Other financial assets (1) |  | 3,624 |  | 4,966
Total |  | 47,395 |  | 49,682
​
(1) | Includes assets pledged for pension derivatives and stock borrowings.
As part of the covered debt programme £8,965 million of loans to customers and other debt instruments (2020 – £11,076 million) have been transferred to bankruptcy remote limited liability partnerships within the NatWest Group to provide collateral for issues of debt securities and other borrowing by the NatWest Group of £3,512 million (2020 – £4,105 million). See Structured Entities Note. Own asset securitisations In own-asset securitisations, the pool of assets held by the SE is either originated by NatWest Group or, in the case of whole loan programmes, purchased from third parties. The table below analyses the asset categories for those own-asset securitisations where the transferred assets continue to be recorded on NatWest Group's balance sheet. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2021 |  | 2020
​ | ​ | ​ | ​ | Debt Securities in issue | ​ | ​ | ​ | Debt Securities in issue
​ | ​ | ​ | ​ | Held by | ​ | Held by | ​ | ​ | ​ |  | ​ | Held by | ​ | Held by | ​ |
​ | ​ | ​ | ​ | third | ​ | NatWest | ​ | ​ | ​ | ​ | ​ | third | ​ | NatWest | ​ | ​
​ | ​ | Assets | ​ | parties | ​ | Group (1) | ​ | Total | ​ | Assets | ​ | parties | ​ | Group (1) | ​ | Total
Asset Type |  | £m |  | £m |  | £m |  | £m |  | £m |  | £m |  | £m |  | £m
Mortgages - Rol | ​ | 1,244 | ​ | — | ​ | 1,314 | ​ | 1,314 | ​ | 1,921 | ​ | 243 | ​ | 1,848 | ​ | 2,091
Cash deposits | ​ | 42 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 146 | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 1,286 |  | ​ | ​ | ​ | ​ | ​ | ​ | 2,067 | ​ | ​ | ​ | ​ | ​ | ​
​
(1) | Debt securities retained by NatWest Group may be pledged with central banks.

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