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v3.22.4

Derivatives - Impact of the accumulated amount of fair hedge adjustments (Details) £ in Millions | 12 Months Ended
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Dec. 31, 2022 GBP (£) | Dec. 31, 2022 GBP (£) ₨ / £ | Dec. 31, 2022 GBP (£) $ / £ | Dec. 31, 2022 GBP (£) SFr / £ | Dec. 31, 2022 GBP (£) ¥ / £ | Dec. 31, 2022 GBP (£) ¥ / $ | Dec. 31, 2022 GBP (£) kr / $ | Dec. 31, 2022 GBP (£) kr / £ | Dec. 31, 2022 GBP (£) kr / £ | Dec. 31, 2022 GBP (£) د.إ / $ | Dec. 31, 2021 GBP (£) | Dec. 31, 2021 GBP (£) ₨ / £ | Dec. 31, 2021 GBP (£) $ / £ | Dec. 31, 2021 GBP (£) SFr / £ | Dec. 31, 2021 GBP (£) ¥ / £ | Dec. 31, 2021 GBP (£) ¥ / £ | Dec. 31, 2021 GBP (£) kr / £ | Dec. 31, 2021 GBP (£) kr / £ | Dec. 31, 2021 GBP (£) kr / £ | Dec. 31, 2021 GBP (£) د.إ / $
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Carrying value of hedged liabilities |  |  |  |  |  |  |  |  |  |  | £ 69,389 | £ 69,389 | £ 69,389 | £ 69,389 | £ 69,389 | £ 69,389 | £ 69,389 | £ 69,389 | £ 69,389 | £ 69,389
Hedging liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Changes in fair value used for hedge ineffectiveness |  |  |  |  |  |  |  |  |  |  | (1,105) |  |  |  |  |  |  |  |  |
Bank and customer deposits |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Carrying value of hedged liabilities |  |  |  |  |  |  |  |  |  |  | 68,383 | 68,383 | 68,383 | 68,383 | 68,383 | 68,383 | 68,383 | 68,383 | 68,383 | 68,383
Changes in fair value used for hedge ineffectiveness |  |  |  |  |  |  |  |  |  |  | (1,084) |  |  |  |  |  |  |  |  |
Financial liabilities (other) | Debt securities in issue |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Carrying value of hedged liabilities |  |  |  |  |  |  |  |  |  |  | 1,006 | 1,006 | 1,006 | 1,006 | 1,006 | 1,006 | 1,006 | 1,006 | 1,006 | 1,006
Changes in fair value used for hedge ineffectiveness |  |  |  |  |  |  |  |  |  |  | (21) |  |  |  |  |  |  |  |  |
Fair value hedging | Interest rate risk |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Carrying value of hedged assets | £ 18,661 | £ 18,661 | £ 18,661 | £ 18,661 | £ 18,661 | £ 18,661 | £ 18,661 | £ 18,661 | £ 18,661 | £ 18,661 | 37,485 | 37,485 | 37,485 | 37,485 | 37,485 | 37,485 | 37,485 | 37,485 | 37,485 | 37,485
Carrying value of hedged liabilities | 41,925 | 41,925 | 41,925 | 41,925 | 41,925 | 41,925 | 41,925 | 41,925 | 41,925 | 41,925 | 40,606 | 40,606 | 40,606 | 40,606 | 40,606 | 40,606 | 40,606 | 40,606 | 40,606 | 40,606
Impact on hedged items included in carrying value, assets | (1,448) | (1,448) | (1,448) | (1,448) | (1,448) | (1,448) | (1,448) | (1,448) | (1,448) | (1,448) | 1,219 | 1,219 | 1,219 | 1,219 | 1,219 | 1,219 | 1,219 | 1,219 | 1,219 | 1,219
Impact on hedged items included in carrying value, liabilities |  |  |  |  |  |  |  |  |  |  | 445 | 445 | 445 | 445 | 445 | 445 | 445 | 445 | 445 | 445
Impact on hedged items ceased to be adjusted for hedging gains or losses, assets | 61 | 61 | 61 | 61 | 61 | 61 | 61 | 61 | 61 | 61 | 69 | 69 | 69 | 69 | 69 | 69 | 69 | 69 | 69 | 69
Fair value hedging | Interest rate risk | Hedging assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | 19,800 | 19,800 | 19,800 | 19,800 | 19,800 | 19,800 | 19,800 | 19,800 | 19,800 | 19,800 | 30,200 | 30,200 | 30,200 | 30,200 | 30,200 | 30,200 | 30,200 | 30,200 | 30,200 | 30,200
Changes in fair value used for hedge ineffectiveness | (3,761) |  |  |  |  |  |  |  |  |  | (2,054) |  |  |  |  |  |  |  |  |
Fair value hedging | Interest rate risk | Hedging liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | 38,900 | 38,900 | 38,900 | 38,900 | 38,900 | 38,900 | 38,900 | 38,900 | 38,900 | 38,900 |  |  |  |  |  |  |  |  |  |
Impact on hedged items included in carrying value, liabilities | (2,772) | (2,772) | (2,772) | (2,772) | (2,772) | (2,772) | (2,772) | (2,772) | (2,772) | (2,772) |  |  |  |  |  |  |  |  |  |
Changes in fair value used for hedge ineffectiveness | 3,319 |  |  |  |  |  |  |  |  |  | 1,208 |  |  |  |  |  |  |  |  |
Fair value hedging | Interest rate risk | Bank and customer deposits |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Carrying value of hedged assets | 565 | 565 | 565 | 565 | 565 | 565 | 565 | 565 | 565 | 565 |  |  |  |  |  |  |  |  |  |
Impact on hedged items included in carrying value, liabilities | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) |  |  |  |  |  |  |  |  |  |
Changes in fair value used for hedge ineffectiveness | 3 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fair value hedging | Interest rate risk | Financial liabilities (other) | Debt securities in issue |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Carrying value of hedged liabilities | 35,856 | 35,856 | 35,856 | 35,856 | 35,856 | 35,856 | 35,856 | 35,856 | 35,856 | 35,856 | 34,371 | 34,371 | 34,371 | 34,371 | 34,371 | 34,371 | 34,371 | 34,371 | 34,371 | 34,371
Impact on hedged items included in carrying value, liabilities | (2,222) | (2,222) | (2,222) | (2,222) | (2,222) | (2,222) | (2,222) | (2,222) | (2,222) | (2,222) | 454 | 454 | 454 | 454 | 454 | 454 | 454 | 454 | 454 | 454
Changes in fair value used for hedge ineffectiveness | 2,790 |  |  |  |  |  |  |  |  |  | 953 |  |  |  |  |  |  |  |  |
Fair value hedging | Interest rate risk | Financial liabilities, subordinated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Carrying value of hedged liabilities | 5,504 | 5,504 | 5,504 | 5,504 | 5,504 | 5,504 | 5,504 | 5,504 | 5,504 | 5,504 | 6,235 | 6,235 | 6,235 | 6,235 | 6,235 | 6,235 | 6,235 | 6,235 | 6,235 | 6,235
Impact on hedged items included in carrying value, liabilities | (547) | (547) | (547) | (547) | (547) | (547) | (547) | (547) | (547) | (547) | (9) | (9) | (9) | (9) | (9) | (9) | (9) | (9) | (9) | (9)
Changes in fair value used for hedge ineffectiveness | 526 |  |  |  |  |  |  |  |  |  | 255 |  |  |  |  |  |  |  |  |
Fair value hedging | Interest rate risk | Loans to banks and customers | Amortised cost |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Carrying value of hedged assets | 5,764 | 5,764 | 5,764 | 5,764 | 5,764 | 5,764 | 5,764 | 5,764 | 5,764 | 5,764 | 6,603 | 6,603 | 6,603 | 6,603 | 6,603 | 6,603 | 6,603 | 6,603 | 6,603 | 6,603
Impact on hedged items included in carrying value, assets | (526) | (526) | (526) | (526) | (526) | (526) | (526) | (526) | (526) | (526) | 701 | 701 | 701 | 701 | 701 | 701 | 701 | 701 | 701 | 701
Changes in fair value used for hedge ineffectiveness | (1,236) |  |  |  |  |  |  |  |  |  | (478) |  |  |  |  |  |  |  |  |
Impact on hedged items ceased to be adjusted for hedging gains or losses, assets | 63 | 63 | 63 | 63 | 63 | 63 | 63 | 63 | 63 | 63 | 69 | 69 | 69 | 69 | 69 | 69 | 69 | 69 | 69 | 69
Fair value hedging | Interest rate risk | Other financial assets - Securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Carrying value of hedged assets | 12,897 | 12,897 | 12,897 | 12,897 | 12,897 | 12,897 | 12,897 | 12,897 | 12,897 | 12,897 | 30,882 | 30,882 | 30,882 | 30,882 | 30,882 | 30,882 | 30,882 | 30,882 | 30,882 | 30,882
Impact on hedged items included in carrying value, assets | (922) | (922) | (922) | (922) | (922) | (922) | (922) | (922) | (922) | (922) | 518 | 518 | 518 | 518 | 518 | 518 | 518 | 518 | 518 | 518
Changes in fair value used for hedge ineffectiveness | (2,525) |  |  |  |  |  |  |  |  |  | (1,576) |  |  |  |  |  |  |  |  |
Impact on hedged items ceased to be adjusted for hedging gains or losses, assets | (2) | (2) | (2) | (2) | (2) | (2) | (2) | (2) | (2) | (2) |  |  |  |  |  |  |  |  |  |
Fair value hedging | Average fixed interest rate | Hedging liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) |  |  |  |  |  |  |  |  |  |  | 35,400 | 35,400 | 35,400 | 35,400 | 35,400 | 35,400 | 35,400 | 35,400 | 35,400 | 35,400
Fair value hedging | 0-3 months | Interest rate risk | Hedging assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | 500 | 500 | 500 | 500 | 500 | 500 | 500 | 500 | 500 | 500 | 900 | 900 | 900 | 900 | 900 | 900 | 900 | 900 | 900 | 900
Fair value hedging | 0-3 months | Interest rate risk | Hedging liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 |  |  |  |  |  |  |  |  |  |
Fair value hedging | 0-3 months | Average fixed interest rate | Hedging liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) |  |  |  |  |  |  |  |  |  |  | 1,100 | 1,100 | 1,100 | 1,100 | 1,100 | 1,100 | 1,100 | 1,100 | 1,100 | 1,100
Fair value hedging | 3-12 months | Interest rate risk | Hedging assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 2,500 | 2,500 | 2,500 | 2,500 | 2,500 | 2,500 | 2,500 | 2,500 | 2,500 | 2,500
Fair value hedging | 3-12 months | Interest rate risk | Hedging liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | 2,900 | 2,900 | 2,900 | 2,900 | 2,900 | 2,900 | 2,900 | 2,900 | 2,900 | 2,900 |  |  |  |  |  |  |  |  |  |
Fair value hedging | 3-12 months | Average fixed interest rate | Hedging liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) |  |  |  |  |  |  |  |  |  |  | 4,200 | 4,200 | 4,200 | 4,200 | 4,200 | 4,200 | 4,200 | 4,200 | 4,200 | 4,200
Fair value hedging | More than 1 year but less than 3 years | Interest rate risk | Hedging assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | 4,700 | 4,700 | 4,700 | 4,700 | 4,700 | 4,700 | 4,700 | 4,700 | 4,700 | 4,700 | 5,500 | 5,500 | 5,500 | 5,500 | 5,500 | 5,500 | 5,500 | 5,500 | 5,500 | 5,500
Fair value hedging | More than 1 year but less than 3 years | Interest rate risk | Hedging liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | 14,600 | 14,600 | 14,600 | 14,600 | 14,600 | 14,600 | 14,600 | 14,600 | 14,600 | 14,600 |  |  |  |  |  |  |  |  |  |
Fair value hedging | More than 1 year but less than 3 years | Average fixed interest rate | Hedging liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) |  |  |  |  |  |  |  |  |  |  | 11,800 | 11,800 | 11,800 | 11,800 | 11,800 | 11,800 | 11,800 | 11,800 | 11,800 | 11,800
Fair value hedging | More than 3 years but less than 5 years | Interest rate risk | Hedging assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | 4,900 | 4,900 | 4,900 | 4,900 | 4,900 | 4,900 | 4,900 | 4,900 | 4,900 | 4,900 | 5,700 | 5,700 | 5,700 | 5,700 | 5,700 | 5,700 | 5,700 | 5,700 | 5,700 | 5,700
Fair value hedging | More than 3 years but less than 5 years | Interest rate risk | Hedging liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | 10,300 | 10,300 | 10,300 | 10,300 | 10,300 | 10,300 | 10,300 | 10,300 | 10,300 | 10,300 |  |  |  |  |  |  |  |  |  |
Fair value hedging | More than 3 years but less than 5 years | Average fixed interest rate | Hedging liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) |  |  |  |  |  |  |  |  |  |  | 9,300 | 9,300 | 9,300 | 9,300 | 9,300 | 9,300 | 9,300 | 9,300 | 9,300 | 9,300
Fair value hedging | 5-10 years | Interest rate risk | Hedging assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | 4,200 | 4,200 | 4,200 | 4,200 | 4,200 | 4,200 | 4,200 | 4,200 | 4,200 | 4,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200
Fair value hedging | 5-10 years | Interest rate risk | Hedging liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | 9,600 | 9,600 | 9,600 | 9,600 | 9,600 | 9,600 | 9,600 | 9,600 | 9,600 | 9,600 |  |  |  |  |  |  |  |  |  |
Fair value hedging | 5-10 years | Average fixed interest rate | Hedging liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) |  |  |  |  |  |  |  |  |  |  | 8,400 | 8,400 | 8,400 | 8,400 | 8,400 | 8,400 | 8,400 | 8,400 | 8,400 | 8,400
Fair value hedging | 10-20 years | Interest rate risk | Hedging assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | 2,500 | 2,500 | 2,500 | 2,500 | 2,500 | 2,500 | 2,500 | 2,500 | 2,500 | 2,500 | 4,900 | 4,900 | 4,900 | 4,900 | 4,900 | 4,900 | 4,900 | 4,900 | 4,900 | 4,900
Fair value hedging | 10-20 years | Interest rate risk | Hedging liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | 500 | 500 | 500 | 500 | 500 | 500 | 500 | 500 | 500 | 500 |  |  |  |  |  |  |  |  |  |
Fair value hedging | 10-20 years | Average fixed interest rate | Hedging liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) |  |  |  |  |  |  |  |  |  |  | 600 | 600 | 600 | 600 | 600 | 600 | 600 | 600 | 600 | 600
Fair value hedging | 20+ years | Interest rate risk | Hedging assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | 1,100 | 1,100 | 1,100 | 1,100 | 1,100 | 1,100 | 1,100 | 1,100 | 1,100 | 1,100 | 4,500 | 4,500 | 4,500 | 4,500 | 4,500 | 4,500 | 4,500 | 4,500 | 4,500 | 4,500
Fair value hedging | 20+ years | Average fixed interest rate | Hedging liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) |  |  |  |  |  |  |  |  |  |  | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0
Cash flow hedging | Interest rate risk |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Carrying value of hedged assets | 94,388 | 94,388 | 94,388 | 94,388 | 94,388 | 94,388 | 94,388 | 94,388 | 94,388 | 94,388 | 63,739 | 63,739 | 63,739 | 63,739 | 63,739 | 63,739 | 63,739 | 63,739 | 63,739 | 63,739
Carrying value of hedged liabilities | 73,181 | 73,181 | 73,181 | 73,181 | 73,181 | 73,181 | 73,181 | 73,181 | 73,181 | 73,181 |  |  |  |  |  |  |  |  |  |
Cash flow hedging | Interest rate risk | Hedging assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | £ 94,500 | £ 94,500 | £ 94,500 | £ 94,500 | £ 94,500 | £ 94,500 | £ 94,500 | £ 94,500 | £ 94,500 | £ 94,500 | £ 63,700 | £ 63,700 | £ 63,700 | £ 63,700 | £ 63,700 | £ 63,700 | £ 63,700 | £ 63,700 | £ 63,700 | £ 63,700
Average fixed interest rate | 1.72% | 1.72% | 1.72% | 1.72% | 1.72% | 1.72% | 1.72% | 1.72% | 1.72% | 1.72% | 0.97% | 0.97% | 0.97% | 0.97% | 0.97% | 0.97% | 0.97% | 0.97% | 0.97% | 0.97%
Changes in fair value used for hedge ineffectiveness | £ 5,336 |  |  |  |  |  |  |  |  |  | £ 2,010 |  |  |  |  |  |  |  |  |
Cash flow hedging | Interest rate risk | Hedging liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | £ 73,100 | £ 73,100 | £ 73,100 | £ 73,100 | £ 73,100 | £ 73,100 | £ 73,100 | £ 73,100 | £ 73,100 | £ 73,100 | £ 69,400 | £ 69,400 | £ 69,400 | £ 69,400 | £ 69,400 | £ 69,400 | £ 69,400 | £ 69,400 | £ 69,400 | £ 69,400
Average fixed interest rate | 1.63% | 1.63% | 1.63% | 1.63% | 1.63% | 1.63% | 1.63% | 1.63% | 1.63% | 1.63% | 0.44% | 0.44% | 0.44% | 0.44% | 0.44% | 0.44% | 0.44% | 0.44% | 0.44% | 0.44%
Changes in fair value used for hedge ineffectiveness | £ (2,054) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash flow hedging | Interest rate risk | Bank and customer deposits |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Carrying value of hedged liabilities | 72,610 | £ 72,610 | £ 72,610 | £ 72,610 | £ 72,610 | £ 72,610 | £ 72,610 | £ 72,610 | £ 72,610 | £ 72,610 |  |  |  |  |  |  |  |  |  |
Changes in fair value used for hedge ineffectiveness | (2,008) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash flow hedging | Interest rate risk | Financial liabilities (other) | Debt securities in issue |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Carrying value of hedged liabilities | 571 | 571 | 571 | 571 | 571 | 571 | 571 | 571 | 571 | 571 |  |  |  |  |  |  |  |  |  |
Changes in fair value used for hedge ineffectiveness | (46) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash flow hedging | Interest rate risk | Loans to banks and customers | Amortised cost |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Carrying value of hedged assets | 93,212 | 93,212 | 93,212 | 93,212 | 93,212 | 93,212 | 93,212 | 93,212 | 93,212 | 93,212 | £ 63,025 | £ 63,025 | £ 63,025 | £ 63,025 | £ 63,025 | £ 63,025 | £ 63,025 | £ 63,025 | £ 63,025 | £ 63,025
Changes in fair value used for hedge ineffectiveness | 5,263 |  |  |  |  |  |  |  |  |  | 1,984 |  |  |  |  |  |  |  |  |
Cash flow hedging | Interest rate risk | Other financial assets - Securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Carrying value of hedged assets | 1,176 | £ 1,176 | £ 1,176 | £ 1,176 | £ 1,176 | £ 1,176 | £ 1,176 | 1,176 | 1,176 | 1,176 | 714 | £ 714 | £ 714 | £ 714 | £ 714 | £ 714 | 714 | 714 | 714 | 714
Changes in fair value used for hedge ineffectiveness | 73 |  |  |  |  |  |  |  |  |  | 26 |  |  |  |  |  |  |  |  |
Cash flow hedging | Exchange rate risk |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Average foreign exchange rate |  | 100.54 | 1.29 | 1.15 | 132.89 | 128.29 | 9.21 |  |  |  |  | 106.58 | 1.38 | 1.25 | 132.93 | 8.74 |  |  |  |
Carrying value of hedged assets |  |  |  |  |  |  |  |  |  |  | 23 | £ 23 | £ 23 | £ 23 | £ 23 | £ 23 | 23 | 23 | 23 | 23
Carrying value of hedged liabilities | 4,345 | £ 4,345 | £ 4,345 | £ 4,345 | £ 4,345 | £ 4,345 | £ 4,345 | 4,345 | 4,345 | 4,345 | 7,279 | 7,279 | 7,279 | 7,279 | 7,279 | 7,279 | 7,279 | 7,279 | 7,279 | 7,279
Cash flow hedging | Exchange rate risk | Hedging assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |  |  |  |  |  |  |  |  |  |
Cash flow hedging | Exchange rate risk | Hedging liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 7,300 | 7,300 | 7,300 | 7,300 | 7,300 | 7,300 | 7,300 | 7,300 | 7,300 | 7,300
Changes in fair value used for hedge ineffectiveness | 3 |  |  |  |  |  |  |  |  |  | (27) |  |  |  |  |  |  |  |  |
Cash flow hedging | Exchange rate risk | Financial liabilities (other) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Carrying value of hedged liabilities | 204 | 204 | 204 | 204 | 204 | 204 | 204 | 204 | 204 | 204 | 200 | 200 | 200 | 200 | 200 | 200 | 200 | 200 | 200 | 200
Changes in fair value used for hedge ineffectiveness | 5 |  |  |  |  |  |  |  |  |  | (10) |  |  |  |  |  |  |  |  |
Cash flow hedging | Exchange rate risk | Financial liabilities (other) | Debt securities in issue |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Carrying value of hedged liabilities | 4,141 | 4,141 | 4,141 | 4,141 | 4,141 | 4,141 | 4,141 | 4,141 | 4,141 | 4,141 | 6,337 | 6,337 | 6,337 | 6,337 | 6,337 | 6,337 | 6,337 | 6,337 | 6,337 | 6,337
Changes in fair value used for hedge ineffectiveness | (2) |  |  |  |  |  |  |  |  |  | (5) |  |  |  |  |  |  |  |  |
Cash flow hedging | Exchange rate risk | Financial liabilities, subordinated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Carrying value of hedged liabilities |  |  |  |  |  |  |  |  |  |  | 742 | 742 | 742 | 742 | 742 | 742 | 742 | 742 | 742 | 742
Changes in fair value used for hedge ineffectiveness |  |  |  |  |  |  |  |  |  |  | (12) |  |  |  |  |  |  |  |  |
Cash flow hedging | Exchange rate risk | Loans to banks and customers | Amortised cost |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Carrying value of hedged assets |  |  |  |  |  |  |  |  |  |  | 21 | 21 | 21 | 21 | 21 | 21 | 21 | 21 | 21 | 21
Cash flow hedging | Exchange rate risk | Other financial assets - Securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Carrying value of hedged assets |  |  |  |  |  |  |  |  |  |  | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2
Cash flow hedging | 0-3 months | Interest rate risk | Hedging assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | £ 6,600 | £ 6,600 | £ 6,600 | £ 6,600 | £ 6,600 | £ 6,600 | £ 6,600 | £ 6,600 | £ 6,600 | £ 6,600 | £ 5,400 | £ 5,400 | £ 5,400 | £ 5,400 | £ 5,400 | £ 5,400 | £ 5,400 | £ 5,400 | £ 5,400 | £ 5,400
Average fixed interest rate | 1.36% | 1.36% | 1.36% | 1.36% | 1.36% | 1.36% | 1.36% | 1.36% | 1.36% | 1.36% | 1.40% | 1.40% | 1.40% | 1.40% | 1.40% | 1.40% | 1.40% | 1.40% | 1.40% | 1.40%
Cash flow hedging | 0-3 months | Interest rate risk | Hedging liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | £ 17,300 | £ 17,300 | £ 17,300 | £ 17,300 | £ 17,300 | £ 17,300 | £ 17,300 | £ 17,300 | £ 17,300 | £ 17,300 | £ 8,800 | £ 8,800 | £ 8,800 | £ 8,800 | £ 8,800 | £ 8,800 | £ 8,800 | £ 8,800 | £ 8,800 | £ 8,800
Average fixed interest rate | 1.27% | 1.27% | 1.27% | 1.27% | 1.27% | 1.27% | 1.27% | 1.27% | 1.27% | 1.27% | 0.50% | 0.50% | 0.50% | 0.50% | 0.50% | 0.50% | 0.50% | 0.50% | 0.50% | 0.50%
Cash flow hedging | 0-3 months | Exchange rate risk | Hedging assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | £ 100 | £ 100 | £ 100 | £ 100 | £ 100 | £ 100 | £ 100 | £ 100 | £ 100 | £ 100 |  |  |  |  |  |  |  |  |  |
Cash flow hedging | 0-3 months | Exchange rate risk | Hedging liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) |  |  |  |  |  |  |  |  |  |  | £ 100 | £ 100 | £ 100 | £ 100 | £ 100 | £ 100 | £ 100 | £ 100 | £ 100 | £ 100
Cash flow hedging | 3-12 months | Interest rate risk | Hedging assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | £ 9,400 | £ 9,400 | £ 9,400 | £ 9,400 | £ 9,400 | £ 9,400 | £ 9,400 | £ 9,400 | £ 9,400 | £ 9,400 | £ 8,100 | £ 8,100 | £ 8,100 | £ 8,100 | £ 8,100 | £ 8,100 | £ 8,100 | £ 8,100 | £ 8,100 | £ 8,100
Average fixed interest rate | 1.98% | 1.98% | 1.98% | 1.98% | 1.98% | 1.98% | 1.98% | 1.98% | 1.98% | 1.98% | 1.19% | 1.19% | 1.19% | 1.19% | 1.19% | 1.19% | 1.19% | 1.19% | 1.19% | 1.19%
Cash flow hedging | 3-12 months | Interest rate risk | Hedging liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | £ 26,800 | £ 26,800 | £ 26,800 | £ 26,800 | £ 26,800 | £ 26,800 | £ 26,800 | £ 26,800 | £ 26,800 | £ 26,800 | £ 21,100 | £ 21,100 | £ 21,100 | £ 21,100 | £ 21,100 | £ 21,100 | £ 21,100 | £ 21,100 | £ 21,100 | £ 21,100
Average fixed interest rate | 0.95% | 0.95% | 0.95% | 0.95% | 0.95% | 0.95% | 0.95% | 0.95% | 0.95% | 0.95% | 0.24% | 0.24% | 0.24% | 0.24% | 0.24% | 0.24% | 0.24% | 0.24% | 0.24% | 0.24%
Cash flow hedging | 3-12 months | Exchange rate risk | Hedging liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | £ 1,100 | £ 1,100 | £ 1,100 | £ 1,100 | £ 1,100 | £ 1,100 | £ 1,100 | £ 1,100 | £ 1,100 | £ 1,100 | £ 2,400 | £ 2,400 | £ 2,400 | £ 2,400 | £ 2,400 | £ 2,400 | £ 2,400 | £ 2,400 | £ 2,400 | £ 2,400
Cash flow hedging | More than 1 year but less than 3 years | Interest rate risk | Hedging assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | £ 46,500 | £ 46,500 | £ 46,500 | £ 46,500 | £ 46,500 | £ 46,500 | £ 46,500 | £ 46,500 | £ 46,500 | £ 46,500 | £ 14,300 | £ 14,300 | £ 14,300 | £ 14,300 | £ 14,300 | £ 14,300 | £ 14,300 | £ 14,300 | £ 14,300 | £ 14,300
Average fixed interest rate | 1.71% | 1.71% | 1.71% | 1.71% | 1.71% | 1.71% | 1.71% | 1.71% | 1.71% | 1.71% | 1.35% | 1.35% | 1.35% | 1.35% | 1.35% | 1.35% | 1.35% | 1.35% | 1.35% | 1.35%
Cash flow hedging | More than 1 year but less than 3 years | Interest rate risk | Hedging liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | £ 15,700 | £ 15,700 | £ 15,700 | £ 15,700 | £ 15,700 | £ 15,700 | £ 15,700 | £ 15,700 | £ 15,700 | £ 15,700 | £ 33,000 | £ 33,000 | £ 33,000 | £ 33,000 | £ 33,000 | £ 33,000 | £ 33,000 | £ 33,000 | £ 33,000 | £ 33,000
Average fixed interest rate | 2.75% | 2.75% | 2.75% | 2.75% | 2.75% | 2.75% | 2.75% | 2.75% | 2.75% | 2.75% | 0.41% | 0.41% | 0.41% | 0.41% | 0.41% | 0.41% | 0.41% | 0.41% | 0.41% | 0.41%
Cash flow hedging | More than 1 year but less than 3 years | Exchange rate risk | Hedging liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | £ 2,800 | £ 2,800 | £ 2,800 | £ 2,800 | £ 2,800 | £ 2,800 | £ 2,800 | £ 2,800 | £ 2,800 | £ 2,800 | £ 3,500 | £ 3,500 | £ 3,500 | £ 3,500 | £ 3,500 | £ 3,500 | £ 3,500 | £ 3,500 | £ 3,500 | £ 3,500
Cash flow hedging | More than 3 years but less than 5 years | Interest rate risk | Hedging assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | £ 21,900 | £ 21,900 | £ 21,900 | £ 21,900 | £ 21,900 | £ 21,900 | £ 21,900 | £ 21,900 | £ 21,900 | £ 21,900 | £ 24,500 | £ 24,500 | £ 24,500 | £ 24,500 | £ 24,500 | £ 24,500 | £ 24,500 | £ 24,500 | £ 24,500 | £ 24,500
Average fixed interest rate | 2.04% | 2.04% | 2.04% | 2.04% | 2.04% | 2.04% | 2.04% | 2.04% | 2.04% | 2.04% | 0.65% | 0.65% | 0.65% | 0.65% | 0.65% | 0.65% | 0.65% | 0.65% | 0.65% | 0.65%
Cash flow hedging | More than 3 years but less than 5 years | Interest rate risk | Hedging liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | £ 5,100 | £ 5,100 | £ 5,100 | £ 5,100 | £ 5,100 | £ 5,100 | £ 5,100 | £ 5,100 | £ 5,100 | £ 5,100 | £ 3,300 | £ 3,300 | £ 3,300 | £ 3,300 | £ 3,300 | £ 3,300 | £ 3,300 | £ 3,300 | £ 3,300 | £ 3,300
Average fixed interest rate | 1.03% | 1.03% | 1.03% | 1.03% | 1.03% | 1.03% | 1.03% | 1.03% | 1.03% | 1.03% | 0.47% | 0.47% | 0.47% | 0.47% | 0.47% | 0.47% | 0.47% | 0.47% | 0.47% | 0.47%
Cash flow hedging | More than 3 years but less than 5 years | Exchange rate risk | Hedging liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | £ 2,100 | £ 2,100 | £ 2,100 | £ 2,100 | £ 2,100 | £ 2,100 | £ 2,100 | £ 2,100 | £ 2,100 | £ 2,100 | £ 1,300 | £ 1,300 | £ 1,300 | £ 1,300 | £ 1,300 | £ 1,300 | £ 1,300 | £ 1,300 | £ 1,300 | £ 1,300
Cash flow hedging | 5-10 years | Interest rate risk | Hedging assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | £ 10,100 | £ 10,100 | £ 10,100 | £ 10,100 | £ 10,100 | £ 10,100 | £ 10,100 | £ 10,100 | £ 10,100 | £ 10,100 | £ 11,400 | £ 11,400 | £ 11,400 | £ 11,400 | £ 11,400 | £ 11,400 | £ 11,400 | £ 11,400 | £ 11,400 | £ 11,400
Average fixed interest rate | 1.02% | 1.02% | 1.02% | 1.02% | 1.02% | 1.02% | 1.02% | 1.02% | 1.02% | 1.02% | 0.82% | 0.82% | 0.82% | 0.82% | 0.82% | 0.82% | 0.82% | 0.82% | 0.82% | 0.82%
Cash flow hedging | 5-10 years | Interest rate risk | Hedging liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | £ 7,500 | £ 7,500 | £ 7,500 | £ 7,500 | £ 7,500 | £ 7,500 | £ 7,500 | £ 7,500 | £ 7,500 | £ 7,500 | £ 2,500 | £ 2,500 | £ 2,500 | £ 2,500 | £ 2,500 | £ 2,500 | £ 2,500 | £ 2,500 | £ 2,500 | £ 2,500
Average fixed interest rate | 2.68% | 2.68% | 2.68% | 2.68% | 2.68% | 2.68% | 2.68% | 2.68% | 2.68% | 2.68% | 1.01% | 1.01% | 1.01% | 1.01% | 1.01% | 1.01% | 1.01% | 1.01% | 1.01% | 1.01%
Cash flow hedging | 5-10 years | Exchange rate risk | Hedging liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | £ 200 | £ 200 | £ 200 | £ 200 | £ 200 | £ 200 | £ 200 | £ 200 | £ 200 | £ 200 |  |  |  |  |  |  |  |  |  |
Cash flow hedging | 10-20 years | Interest rate risk | Hedging assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Average fixed interest rate | 3.12% | 3.12% | 3.12% | 3.12% | 3.12% | 3.12% | 3.12% | 3.12% | 3.12% | 3.12% |  |  |  |  |  |  |  |  |  |
Cash flow hedging | 10-20 years | Interest rate risk | Hedging liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | £ 700 | £ 700 | £ 700 | £ 700 | £ 700 | £ 700 | £ 700 | £ 700 | £ 700 | £ 700 | £ 700 | £ 700 | £ 700 | £ 700 | £ 700 | £ 700 | £ 700 | £ 700 | £ 700 | £ 700
Average fixed interest rate | 4.55% | 4.55% | 4.55% | 4.55% | 4.55% | 4.55% | 4.55% | 4.55% | 4.55% | 4.55% | 4.55% | 4.55% | 4.55% | 4.55% | 4.55% | 4.55% | 4.55% | 4.55% | 4.55% | 4.55%
Net investment hedging | Exchange rate risk |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | £ 500 | £ 500 | £ 500 | £ 500 | £ 500 | £ 500 | £ 500 | £ 500 | £ 500 | £ 500 | £ 500 | £ 500 | £ 500 | £ 500 | £ 500 | £ 500 | £ 500 | £ 500 | £ 500 | £ 500
Average foreign exchange rate |  |  | 1.20 |  |  |  |  | 13.23 | 12.34 | 4.42 |  |  | 1.32 |  |  |  | 11.74 | 8.85 | 12.12 | 3.67
Net investment hedging | 0-3 months | Exchange rate risk |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | £ 500 | £ 500 | £ 500 | £ 500 | £ 500 | £ 500 | £ 500 | £ 500 | £ 500 | £ 500 | £ 500 | £ 500 | £ 500 | £ 500 | £ 500 | £ 500 | £ 500 | £ 500 | £ 500 | £ 500

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- Definition The accumulated amount of fair value hedge adjustment on a hedged item that is included in the carrying amount of the hedged item, recognised in the statement of financial position as a liability. [Refer: Hedged items [member]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 7 -IssueDate 2022-03-24 -Paragraph 24B -Subparagraph a -Clause ii -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2022-en-r&anchor=para_24B_a_ii&doctype=Standard -URIDate 2022-03-24 + Details
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- Definition The average exchange rate used by the entity. Exchange rate is the ratio of exchange for two currencies. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2022-03-24 -Paragraph 112 -Subparagraph c -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2022-en-r&anchor=para_112_c&doctype=Standard -URIDate 2022-03-24 + Details
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