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Financial instruments - maturity analysis | 12 Months Ended
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Dec. 31, 2021
Financial instruments - classification |
Financial instruments - maturity analysis | 12 Financial instruments - maturity analysis Remaining maturity This note shows the maturity profile of NatWest Group’s financial assets and liabilities by contractual date of maturity and contractual cash flows. ​ The following table shows the residual maturity of financial instruments, based on contractual date of maturity. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2021 | ​ | 2020
​ | ​ | Less than | ​ | More than | ​ | ​ | ​ | Less than | ​ | More than | ​ | ​
​ | ​ | 12 months | ​ | 12 months | ​ | Total | ​ | 12 months | ​ | 12 months | ​ | Total
​ |  | £m |  | £m |  | £m |  | £m |  | £m |  | £m
Assets | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash and balances at central banks |  | 177,757 |  | — |  | 177,757 |  | 124,489 |  | — |  | 124,489
Trading assets |  | 40,263 |  | 18,895 |  | 59,158 |  | 42,037 |  | 26,953 |  | 68,990
Derivatives |  | 34,538 |  | 71,601 |  | 106,139 |  | 46,244 |  | 120,279 |  | 166,523
Settlement balances |  | 2,141 |  | — |  | 2,141 |  | 2,297 |  | — |  | 2,297
Loans to banks - amortised cost | ​ | 7,425 | ​ | 257 | ​ | 7,682 | ​ | 6,835 | ​ | 120 | ​ | 6,955
Loans to customers - amortised cost | ​ | 103,689 | ​ | 255,301 | ​ | 358,990 | ​ | 87,531 | ​ | 273,013 | ​ | 360,544
Other financial assets |  | 11,151 |  | 34,994 |  | 46,145 |  | 8,901 |  | 46,247 |  | 55,148
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Bank deposits |  | 13,715 | ​ | 12,564 | ​ | 26,279 | ​ | 12,315 | ​ | 8,291 | ​ | 20,606
Customer deposits |  | 478,801 |  | 1,009 |  | 479,810 |  | 430,283 |  | 1,456 |  | 431,739
Settlement balances |  | 2,068 |  | — |  | 2,068 |  | 5,545 |  | — |  | 5,545
Trading liabilities |  | 41,664 |  | 22,934 |  | 64,598 |  | 45,037 |  | 27,219 |  | 72,256
Derivatives | ​ | 34,593 | ​ | 66,242 | ​ | 100,835 | ​ | 47,361 | ​ | 113,344 | ​ | 160,705
Other financial liabilities |  | 16,060 |  | 33,266 |  | 49,326 |  | 12,403 |  | 33,408 |  | 45,811
Subordinated liabilities |  | 1,375 |  | 7,054 |  | 8,429 |  | 365 |  | 9,597 |  | 9,962
Notes in circulation | ​ | 3,047 | ​ | — | ​ | 3,047 | ​ | 2,655 | ​ | — | ​ | 2,655
Lease liabilities |  | 238 |  | 1,025 |  | 1,263 |  | 185 |  | 1,513 |  | 1,698
​ Assets and liabilities by contractual cash flows up to 20 years The tables on the following page, show the contractual undiscounted cash flows receivable and payable, up to a period of 20 years, including future receipts and payments of interest of financial assets and liabilities by contractual maturity. The balances in the following tables do not agree directly with the consolidated balance sheet, as the tables include all cash flows relating to principal and future coupon payments, presented on an undiscounted basis. The tables have been prepared on the following basis: Financial assets have been reflected in the time band of the latest date on which they could be repaid, unless earlier repayment can be demanded by NatWest Group. Financial liabilities are included at the earliest date on which the counterparty can require repayment, regardless of whether or not such early repayment results in a penalty. If the repayment of a financial instrument is triggered by, or is subject to, specific criteria such as market price hurdles being reached, the asset is included in the time band that contains the latest date on which it can be repaid, regardless of early repayment. The liability is included in the time band that contains the earliest possible date on which the conditions could be fulfilled, without considering the probability of the conditions being met. For example, if a structured note is automatically prepaid when an equity index exceeds a certain level, the cash outflow will be included in the less than three months period, whatever the level of the index at the year end. The settlement date of debt securities in issue, issued by certain securitisation vehicles consolidated by NatWest Group, depends on when cash flows are received from the securitised assets. Where these assets are prepayable, the timing of the cash outflow relating to securities assumes that each asset will be prepaid at the earliest possible date. As the repayments of assets and liabilities are linked, the repayment of assets in securitisations is shown on the earliest date that the asset can be prepaid, as this is the basis used for liabilities. The principal amounts of financial assets and liabilities that are repayable after 20 years or where the counterparty has no right to repayment of the principal are excluded from the table, as are interest payments after 20 years. The maturity of guarantees and commitments is based on the earliest possible date they would be drawn in order to evaluate NatWest Group's liquidity position. MFVTPL assets of £165.6 billion (2020 - £236.0 billion) and HFT liabilities of £165.3 billion (2020 - £232.8 billion) have been excluded from the following tables. ​ 12 Financial instruments - maturity analysis continued ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 0-3 months |  | 3-12 months |  | 1-3 years |  | 3-5 years |  | 5-10 years |  | 10-20 years
2021 | ​ | £m | ​ | £m | ​ | £m | ​ | £m | ​ | £m | ​ | £m
Assets by contractual maturity up to 20 years |  | ​ |  | ​ |  | ​ |  | ​ |  | ​ |  | ​
Cash and balances at central banks |  | 177,757 |  | — |  | — |  | — |  | — |  | —
Derivatives held for hedging | ​ | (23) | ​ | (32) | ​ | 72 | ​ | 15 | ​ | 10 | ​ | 17
Settlement balances |  | 2,141 | ​ | — | ​ | — | ​ | — | ​ | — | ​ | —
Loans to banks - amortised cost |  | 5,735 |  | 1,689 |  | 21 |  | — |  | — |  | —
Loans to customers - amortised cost |  | 65,760 |  | 43,144 |  | 63,979 |  | 45,057 |  | 73,044 |  | 90,115
Other financial assets (1) | ​ | 3,924 | ​ | 7,576 | ​ | 10,467 | ​ | 8,048 | ​ | 7,444 | ​ | 5,523
Finance lease |  | 290 |  | 340 |  | 746 |  | 504 |  | 704 |  | 377
​ |  | 255,584 | ​ | 52,717 |  | 75,285 |  | 53,624 |  | 81,202 |  | 96,032
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities by contractual maturity up to 20 years |  | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Bank deposits |  | 13,292 |  | 421 |  | 566 |  | 12,003 |  | — |  | —
Customer deposits |  | 473,123 |  | 5,440 |  | 1,155 |  | 73 |  | 4 |  | 19
Settlement balances |  | 2,068 |  | — |  | — |  | — |  | — |  | —
Derivatives held for hedging |  | (57) |  | (31) |  | 561 |  | 155 |  | (152) |  | (198)
Other financial liabilities |  | 6,967 |  | 9,293 |  | 16,953 |  | 10,062 |  | 7,905 |  | 292
Subordinated liabilities | ​ | 66 | ​ | 1,604 | ​ | 3,481 | ​ | 2,170 | ​ | 1,496 | ​ | 563
Other liabilities - Notes in circulation | ​ | 3,047 | ​ | — | ​ | — | ​ | — | ​ | — | ​ | —
Lease liabilities |  | 74 | ​ | 161 |  | 220 |  | 167 |  | 281 |  | 251
​ |  | 498,580 |  | 16,888 |  | 22,936 |  | 24,630 |  | 9,534 |  | 927
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Guarantees and commitments - notional amount |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Guarantees (2) |  | 2,055 |  | — | ​ | — | ​ | — | ​ | — | ​ | —
Commitments (3) |  | 118,536 |  | — |  | — |  | — |  | — |  | —
​ |  | 120,591 |  | — |  | — |  | — |  | — |  | —
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
2020 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Assets by contractual maturity up to 20 years |  | ​ |  | ​ |  | ​ |  | ​ |  | ​ |  | ​
Cash and balances at central banks |  | 124,489 |  | — |  | — |  | — |  | — |  | —
Derivatives held for hedging |  | 14 |  | 18 |  | 96 |  | — |  | 12 |  | 6
Settlement balances | ​ | 2,297 | ​ | — | ​ | — | ​ | — | ​ | — | ​ | —
Loans to banks - amortised cost |  | 5,600 | ​ | 1,245 | ​ | — | ​ | — | ​ | 1 | ​ | 110
Loans to customers - amortised cost |  | 47,507 |  | 46,718 |  | 65,138 |  | 58,680 |  | 81,544 |  | 88,155
Other financial assets (1) |  | 4,019 |  | 5,919 |  | 12,592 |  | 10,791 |  | 11,855 |  | 5,774
Finance lease | ​ | 48 | ​ | 366 | ​ | 840 | ​ | 671 | ​ | 895 | ​ | 545
​ | ​ | 183,974 | ​ | 54,266 |  | 78,666 |  | 70,142 |  | 94,307 |  | 94,590
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities by contractual maturity up to 20 years |  | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Bank deposits |  | 11,217 |  | 1,078 |  | 3,241 | ​ | 5,038 |  | — |  | —
Customer deposits |  | 421,763 |  | 8,528 |  | 1,407 |  | 23 |  | 26 |  | 20
Settlement balances |  | 5,545 |  | — |  | — |  | — |  | — |  | —
Derivatives held for hedging |  | 36 | ​ | (17) |  | 94 |  | 3 |  | 64 |  | (2)
Other financial liabilities |  | 4,716 |  | 8,144 |  | 15,558 |  | 11,470 |  | 7,358 |  | 254
Subordinated liabilities |  | 73 |  | 685 |  | 4,387 |  | 3,444 |  | 923 |  | 562
Other liabilities - Notes in circulation | ​ | 2,655 | ​ | — | ​ | — | ​ | — | ​ | — | ​ | —
Lease liabilities | ​ | 51 | ​ | 135 | ​ | 294 | ​ | 245 | ​ | 429 | ​ | 497
​ |  | 446,056 |  | 18,553 |  | 24,981 |  | 20,223 |  | 8,800 |  | 1,331
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Guarantees and commitments - notional amount |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Guarantees (2) |  | 2,244 |  | — | ​ | — | ​ | — | ​ | — | ​ | —
Commitments (3) |  | 121,922 |  | — |  | — |  | — |  | — |  | —
​ |  | 124,166 |  | — |  | — |  | — |  | — |  | —
​
(1) | Other financial assets excludes equity shares.
(2) | NatWest Group is only called upon to satisfy a guarantee when the guaranteed party fails to meet its obligations. NatWest Group expects most guarantees it provides to expire unused.
(3) | NatWest Group has given commitments to provide funds to customers under undrawn formal facilities, credit lines and other commitments to lend subject to certain conditions being met by the counterparty. NatWest Group does not expect all facilities to be drawn, and some may lapse before drawdown.

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