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Financial instruments - classification (Tables) | 12 Months Ended
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Dec. 31, 2022
Financial instruments - classification |
Schedule of classification for financial assets and liabilities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | Amortised | ​ | Other |  | ​
​ | ​ | MFVTPL | ​ | FVOCI | ​ | cost | ​ | assets |  | Total
Assets |  | £m |  | £m |  | £m |  | £m |  | £m
Cash and balances at central banks |  | — |  | — |  | 144,832 |  | — | ​ | 144,832
Trading assets | ​ | 45,577 | ​ | — | ​ | — | ​ | — | ​ | 45,577
Derivatives (1) | ​ | 99,545 | ​ | — | ​ | — | ​ | — | ​ | 99,545
Settlement balances |  | — | ​ | — | ​ | 2,572 | ​ | — | ​ | 2,572
Loans to bank - amortised cost (2) |  | — |  | — |  | 7,139 |  | — | ​ | 7,139
Loans to customers - amortised cost (3) |  | — |  | — |  | 366,340 |  | — | ​ | 366,340
Other financial assets (4) |  | 787 | ​ | 16,973 |  | 13,135 |  | — | ​ | 30,895
Intangible assets | ​ | — | ​ | — | ​ | — | ​ | 7,116 | ​ | 7,116
Other assets |  | — | ​ | — | ​ | — |  | 9,176 | ​ | 9,176
Assets of disposal groups (5) | ​ | — | ​ | — | ​ | — | ​ | 6,861 | ​ | 6,861
31 December 2022 |  | 145,909 |  | 16,973 |  | 534,018 |  | 23,153 |  | 720,053
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash and balances at central banks |  | ​ | ​ | ​ | ​ | 177,757 |  | ​ | ​ | 177,757
Trading assets | ​ | 59,158 |  | ​ | ​ | ​ |  | ​ | ​ | 59,158
Derivatives (1) | ​ | 106,139 |  | ​ | ​ | ​ |  | ​ | ​ | 106,139
Settlement balances | ​ | ​ |  | ​ | ​ | 2,141 |  | ​ | ​ | 2,141
Loans to bank - amortised cost (2) | ​ | ​ |  | ​ | ​ | 7,682 |  | ​ | ​ | 7,682
Loans to customers - amortised cost (3) |  | ​ |  | ​ | ​ | 358,990 |  | ​ | ​ | 358,990
Other financial assets |  | 317 |  | 37,266 | ​ | 8,562 |  | ​ | ​ | 46,145
Intangible assets | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 6,723 | ​ | 6,723
Other assets | ​ | ​ | ​ | ​ | ​ | ​ |  | 8,242 | ​ | 8,242
Assets of disposal groups | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 9,015 | ​ | 9,015
31 December 2021 |  | 165,614 |  | 37,266 | ​ | 555,132 |  | 23,980 | ​ | 781,992
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Held-for- | ​ | ​ | ​ | Amortised | ​ | Other | ​ | ​
​ |  | trading |  | DFV |  | cost |  | liabilities |  | Total
Liabilities |  | £m | ​ | £m | ​ | £m | ​ | £m | ​ | £m
Bank deposits (6) |  | — |  | — | ​ | 20,441 |  | — |  | 20,441
Customer deposits |  | — |  | — | ​ | 450,318 |  | — |  | 450,318
Settlement balances |  | — |  | — | ​ | 2,012 |  | — |  | 2,012
Trading liabilities | ​ | 52,808 | ​ | — | ​ | — | ​ | — | ​ | 52,808
Derivatives (1) |  | 94,047 |  | — | ​ | — |  | — |  | 94,047
Other financial liabilities (7) |  | — |  | 2,377 | ​ | 46,730 |  | — |  | 49,107
Subordinated liabilities |  | — |  | 345 | ​ | 5,915 |  | — |  | 6,260
Notes in circulation | ​ | — | ​ | — | ​ | 3,218 | ​ | — | ​ | 3,218
Other liabilities (8) |  | — |  | — | ​ | 1,205 |  | 4,141 |  | 5,346
31 December 2022 |  | 146,855 |  | 2,722 | ​ | 529,839 |  | 4,141 |  | 683,557
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Bank deposits (6) |  | ​ |  | ​ | ​ | 26,279 |  | ​ |  | 26,279
Customer deposits |  | ​ |  | ​ | ​ | 479,810 |  | ​ |  | 479,810
Settlement balances |  | ​ |  | ​ | ​ | 2,068 |  | ​ |  | 2,068
Trading liabilities |  | 64,598 |  | ​ | ​ | — |  | ​ |  | 64,598
Derivatives (1) |  | 100,835 |  | ​ | ​ | — |  | ​ |  | 100,835
Other financial liabilities (7) |  | ​ |  | 1,671 | ​ | 47,655 |  | ​ |  | 49,326
Subordinated liabilities |  | ​ |  | 703 | ​ | 7,726 |  | ​ |  | 8,429
Notes in circulation | ​ | ​ | ​ | ​ | ​ | 3,047 | ​ | ​ | ​ | 3,047
Other liabilities (8) |  | ​ |  | ​ | ​ | 1,356 |  | 4,441 |  | 5,797
31 December 2021 |  | 165,433 |  | 2,374 | ​ | 567,941 |  | 4,441 |  | 740,189
​
(1) | Includes net hedging derivatives assets of £143 million (2021 - £44 million) and net hedging derivatives liabilities of £132 million (2021 - £120 million).
(2) | Includes items in the course of collection from other banks of £229 million (2021 - £67 million).
(3) | Includes finance lease receivables of £8,402 million (2021 - £8,531 million).
(4) | Includes amounts reclassified from amortised cost to FVTPL in relation to a mortgage portfolio. Refer to Note 8 for further information.
(5) | Includes £5,397 million of assets of disposal groups reclassified from amortised cost to FVTPL during the year. The portfolio is classified as level 3 in the fair value hierarchy.
(6) | Includes items in the course of transmission to other banks of £242 million (2021 - £56 million).
(7) | The carrying amount of other customer accounts designated at fair value through profit or loss is the same as the principal amount for both periods. No amounts have been recognised in the profit or loss for changes in credit risk associated with these liabilities as the changes are immaterial both during the period and cumulatively.
(8) | Includes lease liabilities of £1,118 million (2021 - £1,263 million) held at amortised cost.
​ ​
Schedule of effect of reclassification of mortgages from amortised cost to fair value through profit or loss | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Amortised cost |  | MFVTPL |  | Change in value
​ | ​ | £m | ​ | £m | ​ | £m
Amounts reclassified on balance sheet |  |  |  |  |  |
Loans to customers (1) |  | 587 |  | 606 |  | 19
Assets of disposal groups (2) |  | 10,676 |  | 10,383 |  | (293)
​ |  | 11,263 |  | 10,989 |  | (274)
​ (1)Change in value recognised in continuing operations. (2)Change in value recognised in discontinued operations.
Schedule of amount receivable under finance leases | ​
​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021
​ | ​ | £m | ​ | £m
Amount receivable under finance leases | ​ |  | ​ |
Within 1 year | ​ | 3,235 | ​ | 3,272
1 to 2 years | ​ | 2,254 | ​ | 2,044
2 to 3 years | ​ | 1,388 | ​ | 1,443
3 to 4 years | ​ | 833 | ​ | 757
4 to 5 years | ​ | 411 | ​ | 429
After 5 years | ​ | 1,130 | ​ | 1,423
Lease payments total | ​ | 9,251 | ​ | 9,368
Unguaranteed residual values | ​ | 171 | ​ | 225
Future drawdowns | ​ | (13) | ​ | (21)
Unearned income | ​ | (889) | ​ | (891)
Present value of lease payments | ​ | 8,520 | ​ | 8,681
Impairments | ​ | (118) | ​ | (150)
Net investment in finance leases | ​ | 8,402 | ​ | 8,531
​
Schedule of financial assets and liabilities | ​
​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021
​ | ​ | £m | ​ | £m
Reverse repos |  |  |  |
Trading assets | ​ | 21,537 | ​ | 20,742
Loans to banks - amortised cost |  | 277 |  | 189
Loans to customers - amortised cost |  | 19,750 |  | 25,962
​ |  |  |  |
Repos |  |  |  |
Bank deposits |  | 1,446 |  | 7,912
Customer deposits |  | 9,829 |  | 14,541
Trading liabilities |  | 23,740 | ​ | 19,389
​
Schedule of IBOR related exposure by currency and nature of financial instruments | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Rates subject to IBOR reform
​ | ​ | GBP LIBOR | ​ | USD IBOR | ​ | Other IBOR | ​ | Total
2021 |  | £m |  | £m |  | £m |  | £m
Trading assets |  | 62 |  | 90 |  | — |  | 152
Loans to banks - amortised cost |  | — |  | 11 |  | — |  | 11
Loans to customers - amortised cost |  | 4,788 |  | 4,565 |  | 267 |  | 9,620
Other financial assets |  | 864 |  | 768 |  | — |  | 1,632
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Bank deposits |  | — |  | 37 |  | — |  | 37
Trading liabilities |  | 31 |  | 166 |  | — |  | 197
Other financial liabilities |  | 2,390 |  | 7,023 |  | 131 |  | 9,544
Subordinated liabilities |  | — |  | 90 |  | — |  | 90
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Loan commitments (1) |  | 1,016 |  | 6,366 | ​ | 55 |  | 7,437
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Derivatives notional (£bn) |  | 4 |  | 1,152 |  | — |  | 1,156
​
(1) | Certain loan commitments are multi-currency facilities. Where these are fully undrawn, they are allocated to the principal currency of the facility. Where the facilities are partly drawn, the remaining loan commitment is allocated to the currency with the largest drawn amount.
Schedule of issuance of certain capital instruments | ​
​ | ​ | ​
​ | ​ | 31 December
​ | ​ | 2021
​ |  | £m
US$1.15 billion 8% notes | ​ | 734
​
Schedule of financial assets and liabilities that are offset on the balance sheet |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Instruments which can be offset | ​ | Potential for offset not recognised by IFRS | ​ |  | ​ |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Effect of | ​ | ​ | ​ | ​ | ​ | Net amount | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | master | ​ | ​ | ​ | ​ | ​ | after the effect | ​ | Instruments | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | netting | ​ | ​ | ​ | ​ | ​ | of netting | ​ | outside | ​ | ​
​ | ​ | ​ | ​ | IFRS | ​ | Balance | ​ | and similar | ​ | Cash | ​ | Securities | ​ | agreements and | ​ | netting | ​ | Balance
​ | ​ | Gross | ​ | offset | ​ | sheet | ​ | agreements | ​ | collateral | ​ | collateral | ​ | related collateral | ​ | agreements | ​ | sheet total
2022 |  | £m |  | £m |  | £m |  | £m |  | £m |  | £m |  | £m |  | £m |  | £m
Derivative assets |  | 117,606 | ​ | (18,730) | ​ | 98,876 | ​ | (77,365) | ​ | (14,079) | ​ | (4,571) | ​ | 2,861 | ​ | 669 | ​ | 99,545
Derivative liabilities |  | 115,177 | ​ | (22,111) | ​ | 93,066 | ​ | (77,365) | ​ | (9,761) | ​ | (1,185) | ​ | 4,755 | ​ | 981 | ​ | 94,047
Net position (1) |  | 2,429 | ​ | 3,381 | ​ | 5,810 | ​ | — | ​ | (4,318) | ​ | (3,386) | ​ | (1,894) | ​ | (312) | ​ | 5,498
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Trading reverse repos |  | 35,612 | ​ | (14,510) | ​ | 21,102 | ​ | (2,445) | ​ | — | ​ | (18,458) | ​ | 199 | ​ | 435 | ​ | 21,537
Trading repos |  | 33,767 | ​ | (14,510) | ​ | 19,257 | ​ | (2,445) | ​ | — | ​ | (16,812) | ​ | — | ​ | 4,483 | ​ | 23,740
Net position |  | 1,845 | ​ | — | ​ | 1,845 | ​ | — | ​ | — | ​ | (1,646) | ​ | 199 | ​ | (4,048) | ​ | (2,203)
​ |  | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Non trading reverse repos |  | 25,630 | ​ | (5,702) | ​ | 19,928 | ​ | — | ​ | — | ​ | (19,928) | ​ | — | ​ | 98 | ​ | 20,026
Non trading repos |  | 16,977 | ​ | (5,702) | ​ | 11,275 | ​ | — | ​ | — | ​ | (11,275) | ​ | — | ​ | — | ​ | 11,275
Net position |  | 8,653 | ​ | — | ​ | 8,653 | ​ | — | ​ | — | ​ | (8,653) | ​ | — | ​ | 98 | ​ | 8,751
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
2021 |  | ​ |  | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | ​ |  | ​ |  | ​
Derivative assets |  | 113,220 | ​ | (7,961) | ​ | 105,259 | ​ | (85,006) | ​ | (15,035) | ​ | (2,428) | ​ | 2,790 | ​ | 880 | ​ | 106,139
Derivative liabilities |  | 108,594 | ​ | (8,568) | ​ | 100,026 | ​ | (85,006) | ​ | (9,909) | ​ | (2,913) | ​ | 2,198 | ​ | 809 | ​ | 100,835
Net position (1) |  | 4,626 | ​ | 607 | ​ | 5,233 | ​ | — | ​ | (5,126) | ​ | 485 | ​ | 592 | ​ | 71 | ​ | 5,304
​ |  | ​ |  | ​ |  | ​ |  | ​ |  | ​ |  | ​ |  | ​ |  | ​ |  | ​
Trading reverse repos |  | 44,529 | ​ | (24,422) | ​ | 20,107 | ​ | (900) | ​ | — | ​ | (19,136) | ​ | 71 | ​ | 635 | ​ | 20,742
Trading repos |  | 42,664 | ​ | (24,422) | ​ | 18,242 | ​ | (900) | ​ | — | ​ | (17,341) | ​ | 1 | ​ | 1,147 | ​ | 19,389
Net position |  | 1,865 | ​ | — | ​ | 1,865 | ​ | — | ​ | — | ​ | (1,795) | ​ | 70 | ​ | (512) | ​ | 1,353
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Non trading reverse repos |  | 33,729 | ​ | (7,594) | ​ | 26,135 | ​ | — | ​ | — | ​ | (26,135) | ​ | — | ​ | 16 | ​ | 26,151
Non trading repos |  | 30,047 | ​ | (7,594) | ​ | 22,453 | ​ | — | ​ | — | ​ | (22,453) | ​ | — | ​ | — | ​ | 22,453
Net position |  | 3,682 | ​ | — | ​ | 3,682 | ​ | — | ​ | — | ​ | (3,682) | ​ | — | ​ | 16 | ​ | 3,698
​
(1) | The net IFRS offset balance of £3,381 million (2021 - £607 million)relates to variation margin netting reflected on other balance sheet lines.

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