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Derivatives - Impact of the accumulated amount of fair hedge adjustments (Details) £ in Millions | 12 Months Ended
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Dec. 31, 2023 GBP (£) | Dec. 31, 2023 GBP (£) ₨ / £ | Dec. 31, 2023 GBP (£) $ / £ | Dec. 31, 2023 GBP (£) SFr / £ | Dec. 31, 2023 GBP (£) ¥ / £ | Dec. 31, 2023 GBP (£) ¥ / $ | Dec. 31, 2023 GBP (£) kr / $ | 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, 2021 GBP (£)
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) |  |  |  |  |  |  |  | £ 13,925,000 | £ 13,925,000 | £ 13,925,000 | £ 13,925,000 | £ 13,925,000 | £ 13,925,000 | £ 13,925,000 |
Fair value hedging |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Changes in fair value used for hedge ineffectiveness | £ (364) |  |  |  |  |  |  | (442) |  |  |  |  |  |  | £ (846)
Carrying value adjustment for discontinued fair value hedges | 57 |  |  |  |  |  |  | 61 |  |  |  |  |  |  |
Fair value hedging | Interest rate risk |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Carrying value of hedged assets | 28,559 | £ 28,559 | £ 28,559 | £ 28,559 | £ 28,559 | £ 28,559 | £ 28,559 | 18,661 | 18,661 | 18,661 | 18,661 | 18,661 | 18,661 | 18,661 |
Carrying value of hedged liabilities | 42,396 | 42,396 | 42,396 | 42,396 | 42,396 | 42,396 | 42,396 | 41,925 | 41,925 | 41,925 | 41,925 | 41,925 | 41,925 | 41,925 |
Impact on hedged items included in carrying value, assets | (142) | (142) | (142) | (142) | (142) | (142) | (142) | (1,448) | (1,448) | (1,448) | (1,448) | (1,448) | (1,448) | (1,448) |
Impact on hedged items included in carrying value, liabilities | (1,474) | (1,474) | (1,474) | (1,474) | (1,474) | (1,474) | (1,474) |  |  |  |  |  |  |  |
Fair value hedging | Interest rate risk | Hedging assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | 28,500 | 28,500 | 28,500 | 28,500 | 28,500 | 28,500 | 28,500 | 19,800 | 19,800 | 19,800 | 19,800 | 19,800 | 19,800 | 19,800 |
Changes in fair value used for hedge ineffectiveness | 803 |  |  |  |  |  |  | (3,761) |  |  |  |  |  |  |
Fair value hedging | Interest rate risk | Hedging liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | 39,100 | 39,100 | 39,100 | 39,100 | 39,100 | 39,100 | 39,100 | 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) |
Changes in fair value used for hedge ineffectiveness | (1,167) |  |  |  |  |  |  | 3,319 |  |  |  |  |  |  |
Fair value hedging | Interest rate risk | Bank and customer deposits |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Carrying value of hedged liabilities | 745 | 745 | 745 | 745 | 745 | 745 | 745 | 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) | (3) | (3) | (3) | (3) |
Changes in fair value used for hedge ineffectiveness | (6) |  |  |  |  |  |  | 3 |  |  |  |  |  |  |
Fair value hedging | Interest rate risk | Financial liabilities (other) | Debt securities in issue |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Carrying value of hedged liabilities | 36,305 | 36,305 | 36,305 | 36,305 | 36,305 | 36,305 | 36,305 | 35,856 | 35,856 | 35,856 | 35,856 | 35,856 | 35,856 | 35,856 |
Impact on hedged items included in carrying value, liabilities | (1,151) | (1,151) | (1,151) | (1,151) | (1,151) | (1,151) | (1,151) | (2,222) | (2,222) | (2,222) | (2,222) | (2,222) | (2,222) | (2,222) |
Changes in fair value used for hedge ineffectiveness | (1,023) |  |  |  |  |  |  | 2,790 |  |  |  |  |  |  |
Fair value hedging | Interest rate risk | Financial liabilities, subordinated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Carrying value of hedged liabilities | 5,346 | 5,346 | 5,346 | 5,346 | 5,346 | 5,346 | 5,346 | 5,504 | 5,504 | 5,504 | 5,504 | 5,504 | 5,504 | 5,504 |
Impact on hedged items included in carrying value, liabilities | (320) | (320) | (320) | (320) | (320) | (320) | (320) | (547) | (547) | (547) | (547) | (547) | (547) | (547) |
Changes in fair value used for hedge ineffectiveness | (138) |  |  |  |  |  |  | 526 |  |  |  |  |  |  |
Fair value hedging | Interest rate risk | Loans to banks and customers | Amortised cost |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Carrying value of hedged assets | 5,663 | 5,663 | 5,663 | 5,663 | 5,663 | 5,663 | 5,663 | 5,764 | 5,764 | 5,764 | 5,764 | 5,764 | 5,764 | 5,764 |
Impact on hedged items included in carrying value, assets | (316) | (316) | (316) | (316) | (316) | (316) | (316) | (526) | (526) | (526) | (526) | (526) | (526) | (526) |
Changes in fair value used for hedge ineffectiveness | 167 |  |  |  |  |  |  | (1,236) |  |  |  |  |  |  |
Fair value hedging | Interest rate risk | Other financial assets - Securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Carrying value of hedged assets | 22,896 | 22,896 | 22,896 | 22,896 | 22,896 | 22,896 | 22,896 | 12,897 | 12,897 | 12,897 | 12,897 | 12,897 | 12,897 | 12,897 |
Impact on hedged items included in carrying value, assets | 174 | 174 | 174 | 174 | 174 | 174 | 174 | (922) | (922) | (922) | (922) | (922) | (922) | (922) |
Changes in fair value used for hedge ineffectiveness | 636 |  |  |  |  |  |  | (2,525) |  |  |  |  |  |  |
Fair value hedging | 0-3 months | Interest rate risk | Hedging assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 500 | 500 | 500 | 500 | 500 | 500 | 500 |
Fair value hedging | 0-3 months | Interest rate risk | Hedging liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | 2,700 | 2,700 | 2,700 | 2,700 | 2,700 | 2,700 | 2,700 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 |
Fair value hedging | 3-12 months | Interest rate risk | Hedging assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | 1,700 | 1,700 | 1,700 | 1,700 | 1,700 | 1,700 | 1,700 | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 | 1,900 |
Fair value hedging | 3-12 months | Interest rate risk | Hedging liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | 3,300 | 3,300 | 3,300 | 3,300 | 3,300 | 3,300 | 3,300 | 2,900 | 2,900 | 2,900 | 2,900 | 2,900 | 2,900 | 2,900 |
Fair value hedging | More than 1 year but less than 3 years | Interest rate risk | Hedging assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | 7,100 | 7,100 | 7,100 | 7,100 | 7,100 | 7,100 | 7,100 | 4,700 | 4,700 | 4,700 | 4,700 | 4,700 | 4,700 | 4,700 |
Fair value hedging | More than 1 year but less than 3 years | Interest rate risk | Hedging liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | 13,400 | 13,400 | 13,400 | 13,400 | 13,400 | 13,400 | 13,400 | 14,600 | 14,600 | 14,600 | 14,600 | 14,600 | 14,600 | 14,600 |
Fair value hedging | More than 3 years but less than 5 years | Interest rate risk | Hedging assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | 9,000 | 9,000 | 9,000 | 9,000 | 9,000 | 9,000 | 9,000 | 4,900 | 4,900 | 4,900 | 4,900 | 4,900 | 4,900 | 4,900 |
Fair value hedging | More than 3 years but less than 5 years | Interest rate risk | Hedging liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | 11,300 | 11,300 | 11,300 | 11,300 | 11,300 | 11,300 | 11,300 | 10,300 | 10,300 | 10,300 | 10,300 | 10,300 | 10,300 | 10,300 |
Fair value hedging | 5-10 years | Interest rate risk | Hedging assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | 5,900 | 5,900 | 5,900 | 5,900 | 5,900 | 5,900 | 5,900 | 4,200 | 4,200 | 4,200 | 4,200 | 4,200 | 4,200 | 4,200 |
Fair value hedging | 5-10 years | Interest rate risk | Hedging liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | 7,700 | 7,700 | 7,700 | 7,700 | 7,700 | 7,700 | 7,700 | 9,600 | 9,600 | 9,600 | 9,600 | 9,600 | 9,600 | 9,600 |
Fair value hedging | Over 10 years | Interest rate risk | Hedging assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | 4,700 | 4,700 | 4,700 | 4,700 | 4,700 | 4,700 | 4,700 | 3,600 | 3,600 | 3,600 | 3,600 | 3,600 | 3,600 | 3,600 |
Fair value hedging | Over 10 years | Interest rate risk | Hedging liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | 700 | 700 | 700 | 700 | 700 | 700 | 700 | 500 | 500 | 500 | 500 | 500 | 500 | 500 |
Cash flow hedging | Interest rate risk |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Carrying value of hedged assets | 85,206 | 85,206 | 85,206 | 85,206 | 85,206 | 85,206 | 85,206 | 94,388 | 94,388 | 94,388 | 94,388 | 94,388 | 94,388 | 94,388 |
Carrying value of hedged liabilities | 54,831 | 54,831 | 54,831 | 54,831 | 54,831 | 54,831 | 54,831 | 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) | £ 85,200 | £ 85,200 | £ 85,200 | £ 85,200 | £ 85,200 | £ 85,200 | £ 85,200 | £ 94,500 | £ 94,500 | £ 94,500 | £ 94,500 | £ 94,500 | £ 94,500 | £ 94,500 |
Average fixed interest rate | 2.04% | 2.04% | 2.04% | 2.04% | 2.04% | 2.04% | 2.04% | 1.72% | 1.72% | 1.72% | 1.72% | 1.72% | 1.72% | 1.72% |
Changes in fair value used for hedge ineffectiveness | £ (2,818) |  |  |  |  |  |  | £ 5,336 |  |  |  |  |  |  |
Cash flow hedging | Interest rate risk | Hedging liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | £ 54,800 | £ 54,800 | £ 54,800 | £ 54,800 | £ 54,800 | £ 54,800 | £ 54,800 | £ 73,100 | £ 73,100 | £ 73,100 | £ 73,100 | £ 73,100 | £ 73,100 | £ 73,100 |
Average fixed interest rate | 3.79% | 3.79% | 3.79% | 3.79% | 3.79% | 3.79% | 3.79% | 1.63% | 1.63% | 1.63% | 1.63% | 1.63% | 1.63% | 1.63% |
Changes in fair value used for hedge ineffectiveness | £ 1,617 |  |  |  |  |  |  | £ (2,054) |  |  |  |  |  |  |
Cash flow hedging | Interest rate risk | Bank and customer deposits |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Carrying value of hedged liabilities | 54,675 | £ 54,675 | £ 54,675 | £ 54,675 | £ 54,675 | £ 54,675 | £ 54,675 | 72,610 | £ 72,610 | £ 72,610 | £ 72,610 | £ 72,610 | £ 72,610 | £ 72,610 |
Changes in fair value used for hedge ineffectiveness | 1,610 |  |  |  |  |  |  | (2,008) |  |  |  |  |  |  |
Cash flow hedging | Interest rate risk | Financial liabilities (other) | Debt securities in issue |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Carrying value of hedged liabilities | 156 | 156 | 156 | 156 | 156 | 156 | 156 | 571 | 571 | 571 | 571 | 571 | 571 | 571 |
Changes in fair value used for hedge ineffectiveness | 7 |  |  |  |  |  |  | (46) |  |  |  |  |  |  |
Cash flow hedging | Interest rate risk | Loans to banks and customers | Amortised cost |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Carrying value of hedged assets | 84,583 | 84,583 | 84,583 | 84,583 | 84,583 | 84,583 | 84,583 | 93,212 | 93,212 | 93,212 | 93,212 | 93,212 | 93,212 | 93,212 |
Changes in fair value used for hedge ineffectiveness | (2,796) |  |  |  |  |  |  | 5,263 |  |  |  |  |  |  |
Cash flow hedging | Interest rate risk | Other financial assets - Securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Carrying value of hedged assets | 623 | £ 623 | £ 623 | £ 623 | £ 623 | £ 623 | £ 623 | 1,176 | £ 1,176 | £ 1,176 | £ 1,176 | £ 1,176 | £ 1,176 | £ 1,176 |
Changes in fair value used for hedge ineffectiveness | (22) |  |  |  |  |  |  | 73 |  |  |  |  |  |  |
Cash flow hedging | Exchange rate risk |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Average foreign exchange rate |  | 105.03 | 1.28 | 1.08 | 170.54 | 129.75 | 9.21 |  | 100.54 | 1.29 | 1.15 | 132.89 | 128.29 | 9.21 |
Carrying value of hedged assets | 2,422 | £ 2,422 | £ 2,422 | £ 2,422 | £ 2,422 | £ 2,422 | £ 2,422 |  |  |  |  |  |  |  |
Carrying value of hedged liabilities | 11,661 | 11,661 | 11,661 | 11,661 | 11,661 | 11,661 | 11,661 | 4,345 | £ 4,345 | £ 4,345 | £ 4,345 | £ 4,345 | £ 4,345 | £ 4,345 |
Cash flow hedging | Exchange rate risk | Hedging assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | 2,600 | 2,600 | 2,600 | 2,600 | 2,600 | 2,600 | 2,600 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
Cash flow hedging | Exchange rate risk | Hedging liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | 14,300 | 14,300 | 14,300 | 14,300 | 14,300 | 14,300 | 14,300 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 |
Changes in fair value used for hedge ineffectiveness | 12 |  |  |  |  |  |  | 3 |  |  |  |  |  |  |
Cash flow hedging | Exchange rate risk | Financial liabilities (other) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Carrying value of hedged liabilities | 201 | 201 | 201 | 201 | 201 | 201 | 201 | 204 | 204 | 204 | 204 | 204 | 204 | 204 |
Changes in fair value used for hedge ineffectiveness | 3 |  |  |  |  |  |  | 5 |  |  |  |  |  |  |
Cash flow hedging | Exchange rate risk | Financial liabilities (other) | Debt securities in issue |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Carrying value of hedged liabilities | 11,460 | 11,460 | 11,460 | 11,460 | 11,460 | 11,460 | 11,460 | 4,141 | 4,141 | 4,141 | 4,141 | 4,141 | 4,141 | 4,141 |
Changes in fair value used for hedge ineffectiveness | 9 |  |  |  |  |  |  | (2) |  |  |  |  |  |  |
Cash flow hedging | Exchange rate risk | Loans to banks and customers | Amortised cost |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Carrying value of hedged assets | 583 | 583 | 583 | 583 | 583 | 583 | 583 |  |  |  |  |  |  |  |
Cash flow hedging | Exchange rate risk | Other financial assets - Securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Carrying value of hedged assets | 1,839 | 1,839 | 1,839 | 1,839 | 1,839 | 1,839 | 1,839 |  |  |  |  |  |  |  |
Cash flow hedging | 0-3 months | Interest rate risk | Hedging assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | £ 3,900 | £ 3,900 | £ 3,900 | £ 3,900 | £ 3,900 | £ 3,900 | £ 3,900 | £ 6,600 | £ 6,600 | £ 6,600 | £ 6,600 | £ 6,600 | £ 6,600 | £ 6,600 |
Average fixed interest rate | 1.16% | 1.16% | 1.16% | 1.16% | 1.16% | 1.16% | 1.16% | 1.36% | 1.36% | 1.36% | 1.36% | 1.36% | 1.36% | 1.36% |
Cash flow hedging | 0-3 months | Interest rate risk | Hedging liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | £ 800 | £ 800 | £ 800 | £ 800 | £ 800 | £ 800 | £ 800 | £ 17,300 | £ 17,300 | £ 17,300 | £ 17,300 | £ 17,300 | £ 17,300 | £ 17,300 |
Average fixed interest rate | 0.93% | 0.93% | 0.93% | 0.93% | 0.93% | 0.93% | 0.93% | 1.27% | 1.27% | 1.27% | 1.27% | 1.27% | 1.27% | 1.27% |
Cash flow hedging | 0-3 months | Exchange rate risk | Hedging assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | £ 300 | £ 300 | £ 300 | £ 300 | £ 300 | £ 300 | £ 300 | £ 100 | £ 100 | £ 100 | £ 100 | £ 100 | £ 100 | £ 100 |
Cash flow hedging | 0-3 months | Exchange rate risk | Hedging liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | 8,400 | 8,400 | 8,400 | 8,400 | 8,400 | 8,400 | 8,400 |  |  |  |  |  |  |  |
Cash flow hedging | 3-12 months | Interest rate risk | Hedging assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | £ 14,500 | £ 14,500 | £ 14,500 | £ 14,500 | £ 14,500 | £ 14,500 | £ 14,500 | £ 9,400 | £ 9,400 | £ 9,400 | £ 9,400 | £ 9,400 | £ 9,400 | £ 9,400 |
Average fixed interest rate | 2.46% | 2.46% | 2.46% | 2.46% | 2.46% | 2.46% | 2.46% | 1.98% | 1.98% | 1.98% | 1.98% | 1.98% | 1.98% | 1.98% |
Cash flow hedging | 3-12 months | Interest rate risk | Hedging liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | £ 3,900 | £ 3,900 | £ 3,900 | £ 3,900 | £ 3,900 | £ 3,900 | £ 3,900 | £ 26,800 | £ 26,800 | £ 26,800 | £ 26,800 | £ 26,800 | £ 26,800 | £ 26,800 |
Average fixed interest rate | 2.54% | 2.54% | 2.54% | 2.54% | 2.54% | 2.54% | 2.54% | 0.95% | 0.95% | 0.95% | 0.95% | 0.95% | 0.95% | 0.95% |
Cash flow hedging | 3-12 months | Exchange rate risk | Hedging assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | £ 700 | £ 700 | £ 700 | £ 700 | £ 700 | £ 700 | £ 700 |  |  |  |  |  |  |  |
Cash flow hedging | 3-12 months | Exchange rate risk | Hedging liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | 800 | 800 | 800 | 800 | 800 | 800 | 800 | £ 1,100 | £ 1,100 | £ 1,100 | £ 1,100 | £ 1,100 | £ 1,100 | £ 1,100 |
Cash flow hedging | More than 1 year but less than 3 years | Interest rate risk | Hedging assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | £ 33,900 | £ 33,900 | £ 33,900 | £ 33,900 | £ 33,900 | £ 33,900 | £ 33,900 | £ 46,500 | £ 46,500 | £ 46,500 | £ 46,500 | £ 46,500 | £ 46,500 | £ 46,500 |
Average fixed interest rate | 1.19% | 1.19% | 1.19% | 1.19% | 1.19% | 1.19% | 1.19% | 1.71% | 1.71% | 1.71% | 1.71% | 1.71% | 1.71% | 1.71% |
Cash flow hedging | More than 1 year but less than 3 years | Interest rate risk | Hedging liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | £ 39,100 | £ 39,100 | £ 39,100 | £ 39,100 | £ 39,100 | £ 39,100 | £ 39,100 | £ 15,700 | £ 15,700 | £ 15,700 | £ 15,700 | £ 15,700 | £ 15,700 | £ 15,700 |
Average fixed interest rate | 4.36% | 4.36% | 4.36% | 4.36% | 4.36% | 4.36% | 4.36% | 2.75% | 2.75% | 2.75% | 2.75% | 2.75% | 2.75% | 2.75% |
Cash flow hedging | More than 1 year but less than 3 years | Exchange rate risk | Hedging assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | £ 1,600 | £ 1,600 | £ 1,600 | £ 1,600 | £ 1,600 | £ 1,600 | £ 1,600 |  |  |  |  |  |  |  |
Cash flow hedging | More than 1 year but less than 3 years | Exchange rate risk | Hedging liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | 2,400 | 2,400 | 2,400 | 2,400 | 2,400 | 2,400 | 2,400 | £ 2,800 | £ 2,800 | £ 2,800 | £ 2,800 | £ 2,800 | £ 2,800 | £ 2,800 |
Cash flow hedging | More than 3 years but less than 5 years | Interest rate risk | Hedging assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | £ 22,800 | £ 22,800 | £ 22,800 | £ 22,800 | £ 22,800 | £ 22,800 | £ 22,800 | £ 21,900 | £ 21,900 | £ 21,900 | £ 21,900 | £ 21,900 | £ 21,900 | £ 21,900 |
Average fixed interest rate | 3.30% | 3.30% | 3.30% | 3.30% | 3.30% | 3.30% | 3.30% | 2.04% | 2.04% | 2.04% | 2.04% | 2.04% | 2.04% | 2.04% |
Cash flow hedging | More than 3 years but less than 5 years | Interest rate risk | Hedging liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | £ 10,100 | £ 10,100 | £ 10,100 | £ 10,100 | £ 10,100 | £ 10,100 | £ 10,100 | £ 5,100 | £ 5,100 | £ 5,100 | £ 5,100 | £ 5,100 | £ 5,100 | £ 5,100 |
Average fixed interest rate | 2.28% | 2.28% | 2.28% | 2.28% | 2.28% | 2.28% | 2.28% | 1.03% | 1.03% | 1.03% | 1.03% | 1.03% | 1.03% | 1.03% |
Cash flow hedging | More than 3 years but less than 5 years | Exchange rate risk | Hedging liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | £ 2,500 | £ 2,500 | £ 2,500 | £ 2,500 | £ 2,500 | £ 2,500 | £ 2,500 | £ 2,100 | £ 2,100 | £ 2,100 | £ 2,100 | £ 2,100 | £ 2,100 | £ 2,100 |
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 | £ 10,100 | £ 10,100 | £ 10,100 | £ 10,100 |
Average fixed interest rate | 1.77% | 1.77% | 1.77% | 1.77% | 1.77% | 1.77% | 1.77% | 1.02% | 1.02% | 1.02% | 1.02% | 1.02% | 1.02% | 1.02% |
Cash flow hedging | 5-10 years | Interest rate risk | Hedging liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | £ 300 | £ 300 | £ 300 | £ 300 | £ 300 | £ 300 | £ 300 | £ 7,500 | £ 7,500 | £ 7,500 | £ 7,500 | £ 7,500 | £ 7,500 | £ 7,500 |
Average fixed interest rate | 2.36% | 2.36% | 2.36% | 2.36% | 2.36% | 2.36% | 2.36% | 2.68% | 2.68% | 2.68% | 2.68% | 2.68% | 2.68% | 2.68% |
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 | £ 200 | £ 200 | £ 200 | £ 200 |
Cash flow hedging | Over 10 years | Interest rate risk | Hedging liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives notional (£bn) | £ 600 | £ 600 | £ 600 | £ 600 | £ 600 | £ 600 | £ 600 | £ 700 | £ 700 | £ 700 | £ 700 | £ 700 | £ 700 | £ 700 |
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% | 3.12% | 3.12% | 3.12% | 3.12% |
Cash flow hedging | 10-20 years | Interest rate risk | Hedging liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Average fixed interest rate | 4.50% | 4.50% | 4.50% | 4.50% | 4.50% | 4.50% | 4.50% | 4.55% | 4.55% | 4.55% | 4.55% | 4.55% | 4.55% | 4.55% |

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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 an asset. [Refer: Hedged items [member]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 7 -IssueDate 2023-01-01 -Paragraph 24B -Subparagraph a -Clause ii -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2023-en-r&anchor=para_24B_a_ii&doctype=Standard -URIDate 2023-03-23 + Details
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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 2023-01-01 -Paragraph 24B -Subparagraph a -Clause ii -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2023-en-r&anchor=para_24B_a_ii&doctype=Standard -URIDate 2023-03-23 + 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 2023-01-01 -Paragraph 112 -Subparagraph c -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_112_c&doctype=Standard -URIDate 2023-03-23 + Details
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- Definition The gain (loss) on the change in fair value of the hedged item used as a basis for recognising hedge ineffectiveness. Hedge ineffectiveness is the extent to which the changes in the fair value or the cash flows of the hedging instrument are greater or less than those on the hedged item. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 7 -IssueDate 2023-01-01 -Paragraph 24B -Subparagraph a -Clause iv -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2023-en-r&anchor=para_24B_a_iv&doctype=Standard -URIDate 2023-03-23 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 7 -IssueDate 2023-01-01 -Paragraph 24B -Subparagraph b -Clause i -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2023-en-r&anchor=para_24B_b_i&doctype=Standard -URIDate 2023-03-23 + Details
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