UNITED
 
STATES
 
SECURITIES
 
AND
 
EXCHANGE
 
COMMISSION
 
Washington,
 
DC
 
20549
 
 
FORM
 
6-K
Report
 
of
 
Foreign
 
Private
 
Issuer
Pursuant
 
to
 
Rule
 
13a-16
 
or
 
15d-16
of
 
the
 
Securities
 
Exchange
 
Act
 
of
 
1934
 
October
 
23,
 
2020
 
Commission
 
File
 
Number:
 
001-09246
 
Barclays
 
PLC
(Name
 
of
 
Registrant)
 
1
 
Churchill
 
Place
London
 
E14
 
5HP
England
(Address
 
of
 
Principal
 
Executive
 
Office)
 
Q3
 
2020
 
Results
 
Announcement
 
Indicate
 
by
 
check
 
mark
 
whether
 
the
 
registrant
 
files
 
or
 
will
 
file
 
annual
 
reports
 
under
 
cover
 
of
Form
 
20-F
 
or
 
Form
 
40-F.
Form
 
20-F
X
Form
 
40-F
 
Indicate
 
by
 
check
 
mark
 
whether
 
the
 
registrant
 
is
 
submitting
 
the
 
Form
 
6-K
 
in
 
paper
 
as
 
permitted
 
by
 
Regulation
 
S-T
 
Rule
 
101(b)(1):
____
Indicate
 
by
 
check
 
mark
 
whether
 
the
 
registrant
 
is
 
submitting
 
the
 
Form
 
6-K
 
in
 
paper
 
as
 
permitted
 
by
 
Regulation
 
S-T
 
Rule
 
101(b)(7):
____
This
 
report
 
on
 
Form
 
6-K
 
shall
 
be
 
deemed
 
to
 
be
 
incorporated
 
by
 
reference
 
in
 
the
 
registration
 
statements
 
on
 
Form
 
S-8
 
(No.
 
333-153723,
333-167232,
 
333-173899,
 
333-183110,
 
333-195098,
 
333-216361,
 
333-225082,
 
333-236905
 
and
 
333-236904)
 
and
 
Form
 
F-3
 
(333-
223156)
 
of
 
Barclays
 
PLC
 
and
 
to
 
be
 
a
 
part
 
thereof
 
from
 
the
 
date
 
on
 
which
 
this
 
report
 
is
 
furnished,
 
to
 
the
 
extent
 
not
 
superseded
 
by
documents
 
or
 
reports
 
subsequently
 
filed
 
or
 
furnished.
 
 
BPLCQ320P2I0.JPG
 
 
 
 
 
1
 
 
The
 
Report
 
comprises
 
the
 
following:
 
 
Results
 
of
 
Barclays
 
PLC
 
Group
 
as
 
of,
 
and
 
for
 
the
 
nine
 
months
 
ended,
 
30
 
September
 
2020.
 
A
 
table
 
setting
 
forth
 
the
 
issued
 
share
 
capital
 
of
 
Barclays
 
PLC
 
and
 
the
 
Barclays
 
PLC
 
Group’s
 
total
 
shareholders’
equity,
 
indebtedness
 
and
 
cont
 
ingent
 
liabilities
 
as
 
at
 
30
 
Septembe
 
r
 
2020,
 
the
 
most
 
recent
 
reported
 
statement
 
of
position,
 
and
 
updated
 
for
 
any
 
significant
 
or
 
material
 
items
 
since
 
that
 
reporting
 
date.
 
 
BPLCQ320P2I0.JPG
 
 
 
 
 
 
2
 
 
 
SIGNATURES
Pursuant
 
to
 
the
 
requirements
 
of
 
the
 
Securities
 
Exchange
 
Act
 
of
 
1934,
 
the
 
registrant
 
has
 
duly
 
caused
 
this
 
report
 
to
 
be
 
signed
 
on
 
its
behalf
 
by
 
the
 
undersigned,
 
thereunto
 
duly
 
authorised.
 
BARCLAYS
 
PLC
(Registrant)
Date:
 
October
 
23,
 
2020
By:
/s/
 
Garth
 
Wright
Name:
 
Garth
 
Wright
Title:
 
Assistant
 
Secretary
 
 
Q320EX991P1I0.JPG
 
 
 
 
 
 
1
 
 
Exhibit
 
99.1
Barclays
 
PLC
 
This
 
exhibit
 
includes
 
portions
 
from
 
the
 
previously
 
published
 
Results
 
Announcement
 
of
 
Barclays
 
PLC
 
relating
 
to
 
the
 
nine
 
months
ended
 
30
 
September
 
2020,
 
as
 
amended
 
in
 
part
 
to
 
comply
 
with
 
the
 
requirements
 
of
 
Regulation
 
G
 
and
 
Item
 
10(e)
 
of
 
Regulation
 
S-K
promulgated
 
by
 
the
 
US
 
Securities
 
and
 
Exchange
 
Commission
 
(SEC),
 
including
 
the
 
reconciliation
 
of
 
certain
 
financial
 
information
 
to
comparable
 
measures
 
prepared
 
in
 
accordance
 
with
 
International
 
Financial
 
Reporting
 
Standards
 
(IFRS).
 
The
 
purpose
 
of
 
this
document
 
is
 
to
 
provide
 
such
 
additional
 
disclosure
 
as
 
required
 
by
 
Regulation
 
G
 
and
 
Regulation
 
S-K
 
item
 
10(e),
 
to
 
delete
 
certain
information
 
not
 
in
 
compliance
 
with
 
SEC
 
regulations
 
and
 
to
 
include
 
reconciliations
 
of
 
certain
 
non-IFRS
 
figures
 
to
 
the
 
most
 
directly
equivalent
 
IFRS
 
figures
 
for
 
the
 
periods
 
presented.
 
This
 
document
 
does
 
not
 
update
 
or
 
otherwise
 
supplement
 
the
 
information
contained
 
in
 
the
 
previously
 
published
 
Results
 
Announcement.
 
Any
 
reference
 
to
 
a
 
website
 
in
 
this
 
document
 
is
 
made
 
for
informational
 
purposes
 
only,
 
and
 
information
 
found
 
at
 
such
 
websites
 
is
 
not
 
incorporated
 
by
 
reference
 
into
 
this
 
document.
 
An
 
audit
 
opinion
 
has
 
not
 
been
 
rendered
 
in
 
respect
 
of
 
this
 
document.
 
 
 
Q320EX991P1I0.JPG
Notes
 
 
 
 
 
2
 
 
The
 
terms
 
Barclays
 
or
 
Group
 
refer
 
to
 
Barclays
 
PLC
 
together
 
with
 
its
 
subsidiaries.
 
Unless
 
otherwise
 
stated,
 
the
 
income
 
stat
 
ement
 
analysis
 
compares
 
the
 
nine
months
 
ended
 
30
 
September
 
2020
 
to
 
the
 
corresponding
 
nine
 
months
 
of
 
2019
 
and
 
balance
 
sheet
 
analysis
 
as
 
at
 
30
 
September
 
2020
 
with
 
comparatives
 
relating
to
 
31
 
December
 
2019
 
and
 
30
 
September
 
2019.
 
The
 
abbreviations
 
‘£m’
 
and
 
‘£bn’
 
represent
 
millions
 
and
 
thousands
 
of
 
millions
 
of
 
Pounds
 
Sterling
 
respectively;
the
 
abbreviations
 
‘$m’
 
and
 
‘$bn’
 
represent
 
millions
 
and
 
thousands
 
of
 
millions
 
of
 
US
 
Dollars
 
respectively;
 
and
 
the
 
abbreviations
 
‘€m’
 
and
 
‘€bn’
 
represent
millions
 
and
 
thousands
 
of
 
millions
 
of
 
Euros
 
respectively.
 
There
 
are
 
a
 
number
 
of
 
key
 
judgement
 
areas,
 
for
 
example
 
impairment
 
calculations,
 
which
 
are
 
based
 
on
 
models
 
and
 
which
 
are
 
subject
 
to
 
ongoing
 
adjustment
and
 
modifications.
 
Reported
 
numbers
 
reflect
 
best
 
estimates
 
and
 
judgements
 
at
 
the
 
given
 
point
 
in
 
time.
Relevant
 
terms
 
that
 
are
 
used
 
in
 
this
 
document
 
but
 
are
 
not
 
defined
 
under
 
applicable
 
regulatory
 
guidance
 
or
 
International
 
Financial
 
Reporting
 
Standards
 
(IFRS)
are
 
explained
 
in
 
the
 
results
 
glossary
 
that
 
can
 
be
 
accessed
 
at
 
home.barclays/investor
 
-relations/reports-and-events/latest-financial-results.
 
The
 
information
 
in
 
this
 
announcement,
 
which
 
was
 
approved
 
by
 
the
 
Board
 
of
 
Directors
 
on
 
22
 
October
 
2020,
 
does
 
not
 
comprise
 
statutory
 
accounts
 
within
 
the
meaning
 
of
 
Section
 
434
 
of
 
the
 
Companies
 
Act
 
2006.
 
Statutory
 
accounts
 
for
 
the
 
year
 
ended
 
31
 
December
 
2019,
 
which
 
contained
 
an
 
unmodified
 
audit
 
report
under
 
Section
 
495
 
of
 
the
 
Companies
 
Act
 
2006
 
(which
 
did
 
not
 
make
 
any
 
statements
 
under
 
Section
 
498
 
of
 
the
 
Companies
 
Act
 
2006)
 
have
 
been
 
delivered
 
to
 
the
Registrar
 
of
 
Companies
 
in
 
accordance
 
with
 
Section
 
441
 
of
 
the
 
Companies
 
Act
 
2006.
Barclays
 
is
 
a
 
frequent
 
issuer
 
in
 
the
 
debt
 
capital
 
markets
 
and
 
regularly
 
meets
 
with
 
investors
 
via
 
formal
 
road-shows
 
and
 
other
 
ad
 
hoc
 
meetings.
 
Consistent
 
with
its
 
usual
 
practice,
 
Barclays
 
expects
 
that
 
from
 
time
 
to
 
time
 
over
 
the
 
coming
 
quarter
 
it
 
will
 
meet
 
with
 
investors
 
globally
 
to
 
discuss
 
these
 
results
 
and
 
other
matters
 
relating
 
to
 
the
 
Group.
 
 
Non-IFRS
 
performance
 
measures
Barclays
 
management
 
believes
 
that
 
the
 
non-IFRS
 
performance
 
measures
 
included
 
in
 
this
 
document
 
provide
 
valuable
 
information
 
to
 
the
 
readers
 
of
 
the
financial
 
statements
 
as
 
they
 
enable
 
the
 
reader
 
to
 
identify
 
a
 
more
 
consistent
 
basis
 
for
 
comparing
 
the
 
businesses’
 
performance
 
between
 
financial
 
periods
 
and
provide
 
more
 
detail
 
concerning
 
the
 
elements
 
of
 
performance
 
which
 
the
 
managers
 
of
 
these
 
businesses
 
are
 
most
 
directly
 
able
 
to
 
influence
 
or
 
are
 
relevant
 
for
an
 
assessment
 
of
 
the
 
Group.
 
They
 
also
 
reflect
 
an
 
important
 
aspect
 
of
 
the
 
way
 
in
 
which
 
operating
 
targets
 
are
 
defined
 
and
 
performance
 
is
 
monitored
 
by
Barclays
 
management.
 
However,
 
any
 
non-IFRS
 
performance
 
measures
 
in
 
this
 
document
 
are
 
not
 
a
 
substitute
 
for
 
IFRS
 
measures
 
and
 
readers
 
should
 
consider
the
 
IFRS
 
measures
 
as
 
well.
 
Refer
 
to
 
the
 
appendix
 
on
 
pages
 
42
 
to
 
52
 
for
 
further
 
information
 
and
 
calculations
 
of
 
non-IFRS
 
performance
 
measures
 
included
throughout
 
this
 
document,
 
and
 
the
 
most
 
directly
 
comparable
 
IFRS
 
measures.
 
Key
 
non-IFRS
 
measures
 
included
 
in
 
this
 
document,
 
and
 
the
 
most
 
directly
 
comparable
 
IFRS
 
measures,
 
are:
 
–
 
Attributable
 
profit/(loss)
 
excluding
 
litigation
 
and
 
conduct
 
represents
 
attributable
 
profit/(loss)
 
excluding
 
litigation
 
and
 
conduct
 
charges.
 
The
 
comparable
 
IFRS
measure
 
is
 
attributable
 
profit/(loss).
 
A
 
reconciliation
 
is
 
provided
 
on
 
pages
 
44
 
to
 
51;
 
–
 
Average
 
allocated
 
equity
 
represents
 
the
 
average
 
shareholders’
 
equity
 
that
 
is
 
allocated
 
to
 
the
 
businesses.
 
The
 
comparable
 
IFRS
 
measure
 
is
 
average
 
equity.
 
A
reconciliation
 
is
 
provided
 
on
 
pages
 
44
 
to
 
50;
 
–
 
Average
 
allocated
 
tangible
 
equity
 
is
 
calculated
 
as
 
the
 
average
 
of
 
the
 
previous
 
month’s
 
period
 
end
 
allocated
 
tangible
 
equity
 
and
 
the
 
current
 
month’s
 
period
end
 
allocated
 
tangible
 
equity.
 
The
 
average
 
allocated
 
tangible
 
equity
 
for
 
the
 
period
 
is
 
the
 
average
 
of
 
the
 
monthly
 
averages
 
within
 
that
 
period.
 
Period
 
end
allocated
 
tangible
 
equity
 
is
 
calculated
 
as
 
13.0%
 
(2019:
 
13.0%)
 
of
 
RWAs
 
for
 
each
 
business,
 
adjusted
 
for
 
capital
 
deductions,
 
excluding
 
goodwill
 
and
 
intangible
assets,
 
reflecting
 
the
 
assumptions
 
the
 
Group
 
uses
 
for
 
capital
 
planning
 
purposes.
 
Head
 
Office
 
allocated
 
tangible
 
equity
 
represents
 
the
 
difference
 
between
 
the
Group’s
 
tangible
 
shareholders’
 
equity
 
and
 
the
 
amounts
 
allocated
 
to
 
businesses.
 
The
 
comparable
 
IFRS
 
measure
 
is
 
average
 
equity.
 
A
 
reconciliation
 
is
 
provided
on
 
pages
 
44
 
to
 
50;
 
–
 
Average
 
tangible
 
shareholders’
 
equity
 
is
 
calculated
 
as
 
the
 
average
 
of
 
the
 
previous
 
month’s
 
period
 
end
 
tangible
 
equity
 
and
 
the
 
current
 
month’s
 
period
 
end
tangible
 
equity.
 
The
 
average
 
tangible
 
shareholders’
 
equity
 
for
 
the
 
period
 
is
 
the
 
average
 
of
 
the
 
monthly
 
averages
 
within
 
that
 
period.
 
The
 
comparable
 
IFRS
measure
 
is
 
average
 
equity.
 
A
 
reconciliation
 
is
 
provided
 
on
 
pages
 
44
 
to
 
50;
 
–
 
Basic
 
earnings
 
per
 
share
 
excluding
 
litigation
 
and
 
conduct
 
is
 
calculated
 
by
 
dividing
 
statutory
 
profit
 
after
 
tax
 
attributable
 
to
 
ordinary
 
shareholders
 
excluding
litigation
 
and
 
conduct
 
charges,
 
by
 
the
 
basic
 
weighted
 
average
 
number
 
of
 
shares.
 
The
 
comparable
 
IFRS
 
measure
 
is
 
basic
 
earnings
 
per
 
share.
 
A
 
reconciliation
 
is
provided
 
on
 
pages
 
44
 
to
 
46;
 
–
 
Cost:
 
income
 
ratio
 
excluding
 
litigation
 
and
 
conduct
 
represents
 
operating
 
expenses
 
excluding
 
litigation
 
and
 
conduct
 
charges,
 
divided
 
by
 
total
 
income.
 
The
comparable
 
IFRS
 
measure
 
is
 
cost:
 
income
 
ratio.
 
A
 
reconciliation
 
is
 
provided
 
on
 
pages
 
44
 
to
 
50;
 
–
 
Operating
 
expenses
 
excluding
 
litigation
 
and
 
conduct
 
represents
 
operating
 
expenses
 
excluding
 
litigation
 
and
 
conduct
 
charges.
 
The
 
comparable
 
IFRS
 
measure
is
 
operating
 
expenses.
 
A
 
reconciliation
 
is
 
provided
 
on
 
pages
 
44
 
to
 
50;
 
–
 
Pre
 
-provision
 
profits
 
is
 
calculated
 
by
 
excluding
 
credit
 
impairment
 
charges
 
from
 
profit
 
before
 
tax.
 
The
 
comparable
 
IFRS
 
measure
 
is
 
profit
 
before
 
tax.
 
A
reconciliation
 
is
 
provided
 
on
 
pages
 
44
 
to
 
46;
 
–
 
Pre
 
-provision
 
profits
 
excluding
 
litigation
 
and
 
conduct
 
is
 
calculated
 
by
 
excluding
 
litigation
 
and
 
conduct,
 
and
 
credit
 
impairment
 
charges
 
from
 
profit
 
before
 
tax.
The
 
comparable
 
IFRS
 
measure
 
is
 
profit
 
before
 
tax.
 
A
 
reconciliation
 
is
 
provided
 
on
 
pages
 
44
 
to
 
46;
 
–
 
Profit/(loss)
 
before
 
tax
 
excluding
 
litigation
 
and
 
conduct
 
represents
 
profit/(loss)
 
before
 
tax
 
excluding
 
litigation
 
and
 
conduct
 
charges.
 
The
 
comparable
 
IFRS
measure
 
is
 
profit/(loss)
 
before
 
tax.
 
A
 
reconciliation
 
is
 
provided
 
on
 
pages
 
44
 
to
 
51;
 
–
 
Return
 
on
 
average
 
allocated
 
equity
 
represents
 
the
 
return
 
on
 
shareholders’
 
equity
 
that
 
is
 
allocated
 
to
 
the
 
businesses.
 
The
 
comparable
 
IFRS
 
measure
 
is
 
return
on
 
equity.
 
A
 
reconciliation
 
is
 
provided
 
on
 
page
 
52;
 
–
 
Return
 
on
 
average
 
allocated
 
tangible
 
equity
 
is
 
calculated
 
as
 
the
 
annualised
 
profit
 
after
 
tax
 
attributable
 
to
 
ordinary
 
equity
 
holders
 
of
 
the
 
parent,
 
as
 
a
proportion
 
of
 
average
 
allocated
 
tangible
 
equity.
 
The
 
comparable
 
IFRS
 
measure
 
is
 
return
 
on
 
equity.
 
A
 
reconciliation
 
is
 
provided
 
on
 
page
 
52;
 
–
 
Return
 
on
 
average
 
allocated
 
tangible
 
equity
 
excluding
 
litigation
 
and
 
conduct
 
is
 
calculated
 
as
 
the
 
annualised
 
profit
 
after
 
tax
 
attributable
 
to
 
ordinary
 
equity
holders
 
of
 
the
 
parent
 
excluding
 
litigation
 
and
 
conduct
 
charges,
 
as
 
a
 
proportion
 
of
 
average
 
allocated
 
tangible
 
equity.
 
The
 
comparable
 
IFRS
 
measure
 
is
 
return
on
 
equity.
 
A
 
reconciliation
 
is
 
provided
 
on
 
page
 
52;
 
 
 
Q320EX991P1I0.JPG
Notes
 
 
 
 
 
3
 
 
–
 
Return
 
on
 
average
 
tangible
 
shareholders’
 
equity
 
is
 
calculated
 
as
 
the
 
annualised
 
profit
 
after
 
tax
 
attributable
 
to
 
ordinary
 
equity
 
holders
 
of
 
the
 
parent,
 
as
 
a
proportion
 
of
 
averag
 
e
 
shareholders’
 
equity
 
excluding
 
non-controlling
 
interests
 
and
 
other
 
equity
 
instruments
 
adjusted
 
for
 
the
 
deduction
 
of
 
intangible
 
assets
and
 
goodwill.
 
The
 
comparable
 
IFRS
 
measure
 
is
 
return
 
on
 
equity.
 
A
 
reconciliation
 
is
 
provided
 
on
 
page
 
52;
 
and
 
–
 
Tangible
 
net
 
asset
 
value
 
per
 
share
 
is
 
calculated
 
by
 
dividing
 
shareholders’
 
equity,
 
excluding
 
non-controlling
 
interests
 
and
 
other
 
equity
 
instruments,
 
less
goodwill
 
and
 
intangible
 
assets,
 
by
 
the
 
number
 
of
 
issued
 
ordinary
 
shares.
 
The
 
comparable
 
IFRS
 
measure
 
is
 
net
 
asset
 
value
 
per
 
share.
 
A
 
reconciliation
 
is
provided
 
on
 
page
 
51.
 
 
Forward
 
-looking
 
statements
This
 
document
 
contains
 
certain
 
forward-looking
 
statements
 
within
 
the
 
meaning
 
of
 
Section
 
21E
 
of
 
the
 
US
 
Securities
 
Exchange
 
Act
 
of
 
1934,
 
as
 
amended,
 
and
Section
 
27A
 
of
 
the
 
US
 
Securities
 
Act
 
of
 
1933,
 
as
 
amended,
 
with
 
respect
 
to
 
the
 
Group.
 
Barclays
 
cautions
 
readers
 
that
 
no
 
forward
 
-looking
 
statement
 
is
 
a
guarantee
 
of
 
future
 
performance
 
and
 
that
 
actual
 
results
 
or
 
other
 
financial
 
condition
 
or
 
performance
 
measures
 
could
 
differ
 
materially
 
from
 
those
 
contained
 
in
the
 
forward
 
-looking
 
statements.
 
These
 
forward
 
-looking
 
statements
 
can
 
be
 
identified
 
by
 
the
 
fact
 
that
 
they
 
do
 
not
 
relate
 
only
 
to
 
historical
 
or
 
current
 
facts.
Forward
 
-looking
 
statements
 
sometimes
 
use
 
words
 
such
 
as
 
‘may’,
 
‘will’,
 
‘seek’,
 
‘continue’,
 
‘aim’,
 
‘anticipate’,
 
‘target’,
 
‘projected’,
 
‘expect’,
 
‘estimate’,
 
‘intend’,
‘plan’,
 
‘goal’,
 
‘believe’,
 
‘achieve’
 
or
 
other
 
words
 
of
 
similar
 
meaning.
 
Forward
 
-looking
 
statements
 
can
 
be
 
made
 
in
 
writing
 
but
 
also
 
may
 
be
 
made
 
verbally
 
by
members
 
of
 
the
 
management
 
of
 
the
 
Group
 
(including,
 
without
 
limitation,
 
during
 
management
 
presentations
 
to
 
financial
 
analysts)
 
in
 
connection
 
with
 
this
document.
 
Examples
 
of
 
forward
 
-looking
 
statements
 
include,
 
among
 
others,
 
statements
 
or
 
guidance
 
regardi
 
ng
 
or
 
relating
 
to
 
the
 
Group’s
 
future
 
financial
position,
 
income
 
growth,
 
assets,
 
impairment
 
charges,
 
provisions,
 
business
 
strategy,
 
capital,
 
leverage
 
and
 
other
 
regulatory
 
ratios,
 
payment
 
of
 
dividends
(including
 
dividend
 
payout
 
ratios
 
and
 
expected
 
payment
 
st
 
rategies),
 
projected
 
levels
 
of
 
growth
 
in
 
the
 
banking
 
and
 
financial
 
markets,
 
projected
 
costs
 
or
savings,
 
any
 
commitments
 
and
 
targets,
 
estimates
 
of
 
capital
 
expenditures,
 
plans
 
and
 
objectives
 
for
 
future
 
operations,
 
projected
 
employee
 
numbers,
 
IFRS
impacts
 
and
 
other
 
statements
 
that
 
are
 
not
 
historical
 
fact.
 
By
 
their
 
nature,
 
forward
 
-looking
 
statements
 
involve
 
risk
 
and
 
uncertainty
 
because
 
they
 
relate
 
to
future
 
events
 
and
 
circumstances.
 
The
 
forward
 
-looking
 
statements
 
speak
 
only
 
as
 
at
 
the
 
date
 
on
 
which
 
they
 
are
 
made
 
and
 
such
 
statements
 
may
 
be
 
affected
 
by
changes
 
in
 
legislation,
 
the
 
development
 
of
 
standards
 
and
 
interpretations
 
under
 
IFRS,
 
including
 
evolving
 
practices
 
with
 
regard
 
to
 
the
 
interpretation
 
and
application
 
of
 
accounting
 
and
 
regulatory
 
standards,
 
the
 
outcome
 
of
 
current
 
and
 
future
 
legal
 
proceedings
 
and
 
regulatory
 
investigations,
 
future
 
levels
 
of
conduct
 
provisions,
 
the
 
policies
 
and
 
actions
 
of
 
governmental
 
and
 
regulatory
 
authorities,
 
geopolitical
 
risks
 
and
 
the
 
impact
 
of
 
competition.
 
In
 
addition,
 
factors
including
 
(but
 
not
 
limited
 
to)
 
the
 
following
 
may
 
have
 
an
 
effect:
 
capital,
 
leverage
 
and
 
other
 
regulatory
 
rules
 
applicable
 
to
 
past,
 
current
 
and
 
future
 
periods;
 
UK,
US,
 
Eurozone
 
and
 
global
 
macroeconomic
 
and
 
business
 
conditions;
 
the
 
effects
 
of
 
any
 
volatility
 
in
 
credit
 
markets;
 
market
 
related
 
risks
 
such
 
as
 
changes
 
in
interest
 
rates
 
and
 
foreign
 
exchange
 
rates;
 
effects
 
of
 
changes
 
in
 
valuation
 
of
 
credit
 
market
 
exposures;
 
changes
 
in
 
valuation
 
of
 
issued
 
securities;
 
volatility
 
in
capital
 
markets;
 
changes
 
in
 
credit
 
ratings
 
of
 
any
 
entity
 
within
 
the
 
Group
 
or
 
any
 
securities
 
issued
 
by
 
such
 
entities;
 
direct
 
and
 
indirect
 
impacts
 
of
 
the
coronavirus
 
(COVID-19)
 
pandemic;
 
instability
 
as
 
a
 
result
 
of
 
the
 
exit
 
by
 
the
 
UK
 
from
 
the
 
European
 
Union
 
(EU)
 
(including
 
the
 
outcome
 
of
 
negotiations
concerning
 
the
 
UK’s
 
future
 
trading
 
and
 
security
 
relationship
 
with
 
the
 
EU)
 
and
 
the
 
disruption
 
that
 
may
 
subsequently
 
result
 
in
 
the
 
UK
 
and
 
globally;
 
and
 
the
success
 
of
 
future
 
acquisitions,
 
disposals
 
and
 
other
 
strategic
 
transactions.
 
A
 
number
 
of
 
these
 
influences
 
and
 
factors
 
are
 
beyond
 
the
 
Group’s
 
control.
 
As
 
a
result,
 
the
 
Group’s
 
actual
 
financial
 
position,
 
future
 
results,
 
dividend
 
payments,
 
capital,
 
leverage
 
or
 
other
 
regulatory
 
ratios
 
or
 
other
 
financial
 
and
 
non-financial
metrics
 
or
 
performance
 
measures
 
may
 
differ
 
materially
 
from
 
the
 
statements
 
or
 
guidance
 
set
 
forth
 
in
 
the
 
Group’s
 
forward-looking
 
statements.
 
Additional
 
risks
and
 
factors
 
which
 
may
 
impact
 
the
 
Group’s
 
future
 
financial
 
condition
 
and
 
performance
 
are
 
identified
 
in
 
our
 
filings
 
with
 
the
 
SEC
 
(including,
 
without
 
limitation,
our
 
Annual
 
Report
 
on
 
Form
 
20-F
 
for
 
the
 
fiscal
 
year
 
ended
 
31
 
December
 
2019
 
and
 
our
 
2020
 
Interim
 
Results
 
Announcement
 
for
 
the
 
six
 
months
 
ended
 
30
 
June
2020
 
filed
 
on
 
Form
 
6-K),
 
which
 
are
 
available
 
on
 
the
 
SEC’s
 
website
 
at
 
www.sec.gov.
Subject
 
to
 
our
 
obligations
 
under
 
the
 
applicable
 
laws
 
and
 
regulations
 
of
 
any
 
relevant
 
jurisdiction,
 
(including,
 
without
 
limitation,
 
the
 
UK
 
and
 
the
 
US),
 
in
 
relation
to
 
disclosure
 
and
 
ongoing
 
information,
 
we
 
undertake
 
no
 
obligation
 
to
 
update
 
publicly
 
or
 
revise
 
any
 
forward
 
-looking
 
statements,
 
whether
 
as
 
a
 
result
 
of
 
new
information,
 
future
 
events
 
or
 
otherwise.
 
 
 
Q320EX991P1I0.JPG
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Performance
 
Highlights
 
 
 
 
 
4
 
 
Open
 
for
 
business
 
during
 
the
 
COVID
 
-19
 
pandemic,
 
helping
 
support
 
the
 
economy
COVID
 
-19
 
support
Supporting
 
our
 
customers,
clients,
 
communities,
 
and
colleagues
●
 
Provided
 
over
 
640k
 
payment
 
holidays
 
to
 
customers,
 
c.£25bn
 
of
 
COVID
 
-19
 
support
 
to
 
UK
 
businesses
1
and
helped
 
businesses
 
and
 
institutions
 
access
 
global
 
capital
 
markets
 
including
 
underwriting
 
over
 
£1tn
 
of
 
new
issuance
2
 
in
 
Q220
 
and
 
Q320.
 
Also
 
waived
 
c.£100m
 
of
 
interest
 
and
 
fees
 
to
 
customers,
 
and
 
committed
 
to
 
a
£100m
 
COVID-19
 
Community
 
Aid
 
Package
 
 
Diversified
 
business
 
model
 
delivered
 
a
 
resilient
 
operating
 
performance
 
Q320
 
YTD
Despite
 
the
 
pandemic,
 
Barclays
 
delivered
 
a
 
Q320
 
YTD
 
Group
 
profit
 
before
 
tax
 
of
 
£2.4bn
 
(Q319
 
YTD:
 
£3.3bn,
 
included
 
a
 
Payment
 
Protection
Insurance
 
(PPI)
 
provision
 
of
 
£1.4bn),
 
a
 
return
 
on
 
equity
 
(RoE)
 
of
 
3.1%
 
(Q319
 
YTD:
 
4.3%),
 
a
 
return
 
on
 
tangible
 
equity
 
(RoTE)
 
of
 
3.6%
 
(Q319
 
YTD:
5.1%),
 
earnings
 
per
 
share
 
(EPS)
 
of
 
7.6p
 
(Q319
 
YTD:
 
10.4p)
 
and
 
a
 
common
 
equity
 
tier
 
1
 
(CET1)
 
ratio
 
of
 
14.6%
 
(December
 
2019:
 
13.8%)
Income
Diversified
 
income
 
streams
 
with
strong
 
Q320
 
YTD
 
CIB
 
income
offsetting
 
challenges
 
in
 
Barclays
UK
 
and
 
CC&P
Group
 
income
 
of
 
£16.8bn
 
up
 
3%
 
versus
 
prior
 
year
●
 
Barclays
 
International
 
income
 
of
 
£12.4bn,
 
up
 
11%
 
versus
 
prior
 
year
-
 
Corporate
 
and
 
Investment
 
Bank
 
(CIB)
 
income
 
of
 
£9.8bn,
 
up
 
24%
driven
 
by
 
strong
 
Markets
 
income
reflecting
 
wider
 
spreads
 
and
 
market
 
share
 
gains
3
 
-
 
Consumer,
 
Cards
 
and
 
Payments
 
(CC&P)
 
income
 
of
 
£2.6bn,
 
down
 
21%
 
driven
 
by
 
lower
 
balances,
margin
 
compression
 
and
 
reduced
 
payments
 
activity
 
●
 
Barclays
 
UK
 
income
 
of
 
£4.7bn
 
down
 
12%
 
versus
 
prior
 
year
reflecting
 
lower
 
interest
 
rates
 
and
 
unsecured
lending
 
balances,
 
COVID
 
-19
 
customer
 
support
 
actions
 
and
 
the
 
removal
 
of
 
certain
 
fees
Credit
 
impairment
 
charges
Increased
 
impairment
provisioning
 
driving
 
higher
coverage
 
ratios
 
across
 
portfolios
Group
 
credit
 
impairment
 
charges
 
increased
 
to
 
£4.3bn
 
(Q319
 
YTD:
 
£1.4bn)
 
reflecting
 
the
 
impact
 
from
 
revised
IFRS
 
9
 
scenarios
 
and
 
£0.7bn
 
in
 
respect
 
of
 
single
 
name
 
wholesale
 
loan
 
charges
●
 
Impairment
 
coverage
 
ratio
 
for
 
the
 
unsecured
 
consumer
 
lending
 
and
 
wholesale
 
portfolios
 
increased
 
to
12.2%
 
(FY19:
 
8.1%)
 
and
 
1.5%
 
(FY19:
 
0.8%)
 
respectively
Costs
4
Improved
 
cost:
 
income
 
ratio
Group
 
operating
 
expenses
 
of
 
£10.0bn
 
down
 
1%
 
versus
 
prior
 
year
●
 
Cost
 
efficiencies
 
and
 
cost
 
discipline
 
contributed
 
to
 
positive
 
cost:
 
income
 
jaws
 
of
 
4%
 
resulting
 
in
 
an
improved
 
cost:
 
income
 
ratio
 
of
 
59%
 
(Q319
 
YTD:
 
62%)
●
 
Group
 
total
 
operating
 
expenses,
 
including
 
litigation
 
and
 
conduct,
 
of
 
£10.1bn
 
resulting
 
in
 
a
 
cost:
 
income
ratio,
 
including
 
litigation
 
and
 
conduct,
 
of
 
60%
 
(Q319
 
YTD:
 
72%)
Capital,
 
liquidity,
 
NAV
 
and
 
TNAV
Strong
 
capital
 
and
 
liquidity
position
CET1
 
ratio
 
of
 
14.6%,
 
a
 
YTD
 
increase
 
of
 
80bps
●
 
The
 
increase
 
over
 
the
 
first
 
nine
 
months
 
of
 
the
 
year
 
reflects
 
profits,
 
regulatory
 
measures
 
and
 
cancellation
of
 
the
 
full
 
year
 
2019
 
dividend
 
payment,
 
partially
 
offset
 
by
 
a
 
YTD
 
increase
 
in
 
Risk
 
Weighted
 
Assets
 
(RWAs)
●
 
Headroom
 
of
 
3.3%
 
above
 
Maximum
 
Distributable
 
Amount
 
(MDA)
 
hurdle
 
of
 
11.3%
5
 
●
 
The
 
Group
 
liquidity
 
pool
 
was
 
£327bn
 
(December
 
2019:
 
£211bn)
 
and
 
the
 
liquidity
 
coverage
 
ratio
 
(LCR)
 
was
181%
 
(December
 
2019:
 
160%)
●
 
Net
 
asset
 
value
 
(NAV)
 
per
 
share
 
was
 
322p
 
(December
 
2019:
 
309p).
 
Tangible
 
net
 
asset
 
value
 
(TNAV)
 
per
share
 
increased
 
to
 
275p
 
(December
 
2019:
 
262p)
Q320
 
performance
Q320
 
Barclays
 
UK
 
and
 
CC&P
income
 
improved
 
from
 
Q220,
whilst
 
CIB
 
remains
 
strong
 
year
 
on
year
Q320
 
Group
 
profit
 
before
 
tax
 
of
 
£1.1bn
 
(Q319:
 
£0.2bn),
 
resulting
 
in
 
a
 
RoE
 
of
 
4.3%
 
(Q319:
 
(2.1%)),
 
a
 
RoTE
 
of
5.1%
 
(Q319:
 
(2.4%))
 
and
 
EPS
 
of
 
3.5p
 
(Q319:
 
(1.7p))
●
 
Q320
 
Group
 
income
 
of
 
£5.2bn,
 
down
 
6%
 
versus
 
prior
 
year
●
 
Q320
 
Barclays
 
International
 
income
 
of
 
£3.8bn,
 
up
 
1%
 
versus
 
prior
 
year
-
 
Q320
 
CIB
 
income
 
of
 
£2.9bn,
 
up
 
11%
 
versus
 
prior
 
year
 
driven
 
by
 
a
 
29%
 
increase
 
in
 
Markets
 
income,
but
 
down
 
12%
 
versus
 
prior
 
quarter
-
 
Q320
 
CC&P
 
income
 
of
 
£0.9bn,
 
down
 
23%
 
versus
 
prior
 
year
 
but
 
up
 
26%
 
versus
 
prior
 
quarter
 
improved
 
from
 
the
 
Q220
 
low
 
point
 
reflecting
 
recovery
 
in
 
US
 
cards
 
spend,
 
deposit
 
repricing,
 
UK
merchant
 
acquiring
 
volumes,
 
and
 
the
 
non-recurrence
 
of
 
a
 
£100m
 
valuation
 
loss
 
in
 
Barclays’
preference
 
shares
 
in
 
Visa
 
Inc.
●
 
Q320
 
Barclays
 
UK
 
income
 
of
 
£1.6bn,
 
down
 
16%
 
versus
 
prior
 
year
 
but
 
up
 
6%
 
versus
 
prior
 
quarter
 
improved
 
from
 
the
 
Q220
 
low
 
point
 
with
 
Q320
 
net
 
interest
 
margin
 
(NIM)
 
stable
 
at
 
2.51%
 
(Q220:
 
2.48%)
 
●
 
Q320
 
Group
 
credit
 
impairment
 
charge
 
of
 
£0.6bn,
 
up
 
32%
 
versus
 
prior
 
year
 
but
 
down
 
63%
 
versus
 
prior
quarter
●
 
Q320
 
Group
 
operating
 
expenses
 
of
 
£3.4bn
4
,
 
up
 
3%
 
versus
 
prior
 
year
 
and
 
2%
 
versus
 
prior
 
quarter.
 
Q320
Group
 
total
 
operating
 
expenses,
 
including
 
litigation
 
and
 
conduct,
 
of
 
£3.5bn
●
 
CET1
 
ratio
 
of
 
14.6%,
 
an
 
increase
 
of
 
40bps
 
in
 
Q320
 
mainly
 
due
 
to
 
lower
 
RWAs
 
 
 
1
 
Total
 
payment
 
holiday
 
s
 
granted
 
as
 
at
 
30
 
September
 
2020,
 
business
 
lending
 
and
 
commer
 
cial
 
paper
 
issuance
 
data
 
as
 
at
 
19
 
October
 
2020.
2
 
Across
 
Equity
 
and
 
Debt
 
Capital
 
Markets.
3
 
Data
 
source:
 
Coalition,
 
H120
 
Competitor
 
Analysis.
 
Market
 
share
 
represents
 
Barclays
 
share
 
of
 
the
 
total
 
industry
 
Revenue
 
Pool.
 
Analysis
 
is
 
based
 
on
 
Barclays
 
internal
business
 
structure
 
and
 
internal
 
revenues.
4
 
Excluding
 
litigation
 
and
 
conduct.
5
 
Barclays’
 
MDA
 
hurdle
 
will
 
fluctuate
 
depending
 
on
 
the
 
total
 
RWAs
 
at
 
each
 
reporting
 
period
 
and
 
any
 
future
 
regulatory
 
changes.
 
 
Q320EX991P1I0.JPG
 
 
 
 
 
 
 
Performance
 
Highlights
 
 
 
 
 
5
 
 
Group
 
outlook
Outlook
 
remains
 
uncertain
 
and
subject
 
to
 
change
 
depending
 
on
the
 
evolution
 
and
 
persistence
 
of
the
 
COVID
 
-19
 
pandemic
 
and
 
the
outcome
 
of
 
Brexit
 
negotiations
Income
●
 
Certain
 
headwinds
 
to
 
income
 
in
 
Barclays
 
UK
 
are
 
expected
 
to
 
persist
 
in
 
2021
 
including
 
the
 
low
 
interest
rate
 
environment
●
 
The
 
drivers
 
of
 
CC&P
 
income
 
are
 
showing
 
signs
 
of
 
recovery
 
but
 
the
 
outlook
 
remains
 
uncertain
●
 
After
 
a
 
strong
 
Q320
 
YTD
 
CIB
 
performance
 
driven
 
by
 
Markets,
 
the
 
franchise
 
is
 
well
 
positioned
 
for
 
the
future
Impairment
●
 
Provided
 
macroeconomic
 
assumptions
 
remain
 
consistent
 
with
 
expectations,
 
we
 
expect
 
the
 
H220
impairment
 
charge
 
to
 
be
 
materially
 
below
 
that
 
of
 
H120
 
and
 
it
 
is
 
likely
 
that
 
the
 
full
 
year
 
2021
 
impairment
charge
 
will
 
be
 
below
 
that
 
of
 
2020
Costs
●
 
The
 
Group
 
expects
 
FY20
 
costs,
 
excluding
 
litigation
 
and
 
conduct,
 
to
 
be
 
broadly
 
flat
 
versus
 
FY19.
 
However,
the
 
Group
 
will
 
be
 
evaluating
 
actions
 
to
 
reduce
 
structural
 
costs,
 
which
 
could
 
result
 
in
 
additional
 
charges,
the
 
timing
 
and
 
size
 
of
 
which
 
remain
 
to
 
be
 
determined
Capital
●
 
The
 
Group
 
remains
 
in
 
a
 
strong
 
capital
 
position
 
and
 
is
 
confident
 
of
 
its
 
capital
 
generation
 
capacity
 
over
time,
 
acknowledging
 
likely
 
headwinds
 
to
 
the
 
CET1
 
ratio
 
from
 
procyclica
 
l
 
effects
 
on
 
RWAs
 
and
 
reduced
benefit
 
from
 
transitional
 
relief
 
on
 
IFRS
 
9
 
impairment
●
 
The
 
Board
 
recognises
 
the
 
importance
 
of
 
capital
 
returns
 
to
 
shareholders
 
and
 
will
 
provide
 
an
 
update
 
on
 
its
policy
 
and
 
dividends
 
at
 
FY20
 
results
 
 
 
 
Q320EX991P1I0.JPG
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Performance
 
Highlights
 
 
 
 
 
6
 
 
Barclays
 
Group
 
results
for
 
the
 
nine
 
months
 
ended
30.09.20
30.09.19
£m
£m
%
 
Change
Total
 
income
16,825
16,331
3
Credit
 
impairment
 
charges
(4,346)
(1,389)
 
Net
 
operating
 
income
12,479
14,942
(16)
Operating
 
expenses
(9,954)
(10,051)
1
Litigation
 
and
 
conduct
(106)
(1,682)
94
Total
 
operating
 
expenses
(10,060)
(11,733)
14
Other
 
net
 
income
-
51
 
Profit
 
before
 
tax
 
2,419
3,260
(26)
Tax
 
charge
(441)
(814)
46
Profit
 
after
 
tax
 
1,978
2,446
(19)
Non-controlling
 
interests
(41)
(38)
(8)
Other
 
equity
 
instrument
 
holders
(631)
(628)
-
Attributable
 
profit
1,306
1,780
(27)
Performance
 
measures
Return
 
on
 
average
 
shareholders'
 
equity
3.1%
4.3%
Return
 
on
 
average
 
tangible
 
shareholders'
 
equity
3.6%
5.1%
Average
 
shareholders'
 
equity
 
(£bn)
 
56.6
 
54.6
Average
 
tangible
 
shareholders'
 
equity
 
(£bn)
 
48.5
 
46.6
Cost:
 
income
 
ratio
60%
72%
Loan
 
loss
 
rate
 
(bps)
164
53
Basic
 
earnings
 
per
 
share
7.6p
10.4p
Dividend
 
per
 
share
-
3.0p
Performance
 
measures
 
excluding
 
litigation
 
and
 
conduct
1
Profit
 
before
 
tax
2,525
4,942
(49)
Attributable
 
profit
1,378
3,391
(59)
Return
 
on
 
average
 
tangible
 
shareholders'
 
equity
3.8%
9.7%
Cost:
 
income
 
ratio
59%
62%
Basic
 
earnings
 
per
 
share
8.0p
19.7p
As
 
at
 
30.09.20
As
 
at
 
31.12.19
As
 
at
 
30.09.19
Balance
 
sheet
 
and
 
capital
 
management
2
£bn
£bn
£bn
Loans
 
and
 
advances
 
at
 
amortised
 
cost
344.4
339.1
345.1
Deposits
 
at
 
amortised
 
cost
494.6
415.8
420.6
Net
 
asset
 
value
 
per
 
share
322p
309p
320p
Tangible
 
net
 
asset
 
value
 
per
 
share
275p
262p
274p
Common
 
equity
 
tier
 
1
 
ratio
14.6%
13.8%
13.4%
Common
 
equity
 
tier
 
1
 
capital
45.5
40.8
41.9
Risk
 
weighted
 
assets
310.7
295.1
313.3
Average
 
UK
 
leverage
 
ratio
5.1%
4.5%
4.6%
UK
 
leverage
 
ratio
5.2%
5.1%
4.8%
Funding
 
and
 
liquidity
Group
 
liquidity
 
pool
 
(£bn)
327
211
226
Liquidity
 
coverage
 
ratio
181%
160%
151%
Loan:
 
deposit
 
ratio
70%
82%
82%
 
1
 
Refer
 
to
 
pages
 
42
 
to
 
51
 
for
 
further
 
information
 
and
 
calculations
 
of
 
performance
 
measures
 
excluding
 
litigation
 
and
 
conduct.
2
 
Refer
 
to
 
pages
 
31
 
to
 
37
 
for
 
further
 
information
 
on
 
how
 
capital,
 
RWAs
 
and
 
leverage
 
are
 
calculated.
 
 
Q320EX991P1I0.JPG
Group
 
Finance
 
Director’s
 
Review
 
 
 
 
 
7
 
 
Group
 
performance
●
 
RoE
 
was
 
3.1%
 
(Q319
 
YTD:
 
4.3%).
 
Statutory
 
RoTE
 
was
 
3.6%
 
(Q319
 
YTD:
 
5.1%)
 
and
 
statutory
 
EPS
 
was
 
7.6p
 
(Q319
 
YTD:
 
10.4p)
●
 
Profit
 
before
 
tax
 
was
 
£2,419m
 
(Q319
 
YTD:
 
£3,260m).
 
Excluding
 
litigation
 
and
 
conduct,
 
profit
 
before
 
tax
 
was
 
£2,525m
 
(Q319
YTD:
 
£4,942m),
 
as
 
positive
 
operating
 
leverage
 
from
 
a
 
3%
 
increase
 
in
 
income
 
and
 
1%
 
reduction
 
in
 
operating
 
expenses
 
was
 
offset
by
 
materially
 
higher
 
credit
 
impairment
 
charges
●
 
Pre-provision
 
profits
1
 
increased
 
9%
 
to
 
£6,871m,
 
benefitting
 
from
 
the
 
Group’s
 
diversified
 
business
 
model,
 
as
 
strong
 
performance
in
 
CIB
 
more
 
than
 
offset
 
income
 
headwinds
 
in
 
Barclays
 
UK
 
and
 
CC&P
●
 
Total
 
income
 
increased
 
3%
 
to
 
£16,825m.
 
Barclays
 
UK
 
income
 
decreased
 
12%.
 
Barcl
 
ays
 
International
 
income
 
increased
 
11%,
with
 
CIB
 
income
 
up
 
24%
 
and
 
CC&P
 
income
 
down
 
21%
 
●
 
Credit
 
impairment
 
charges
 
increased
 
to
 
£4,346m
 
(Q319
 
YTD:
 
£1,389m).
 
This
 
increase
 
was
 
primarily
 
driven
 
by
 
the
 
impact
 
from
revised
 
IFRS
 
9
 
scenarios
 
(the
 
“COVID
 
-19
 
scenarios”)
 
reflecting
 
forecast
 
deterioration
 
in
 
macroeconomic
 
variables
 
(including
 
a
prolonged
 
period
 
of
 
heightened
 
UK
 
and
 
US
 
unemployment),
 
partially
 
offset
 
by
 
the
 
estimated
 
impact
 
of
 
central
 
bank,
government
 
and
 
other
 
support
 
measures,
 
and
 
£746m
 
in
 
respect
 
of
 
single
 
name
 
wholesale
 
loan
 
charges
 
in
 
CIB
●
 
The
 
Group
 
cost:
 
income
 
ratio
 
was
 
60%
 
(Q319
 
YTD:
 
72%).
 
Operating
 
expenses
 
decreased
 
1%
 
to
 
£9,954m
 
reflecting
 
cost
efficiencies
 
and
 
continued
 
cost
 
discipline
 
in
 
the
 
current
 
environment.
 
The
 
Group
 
delivered
 
positive
 
cost:
 
income
 
jaws
 
of
 
4%
which
 
resulted
 
in
 
the
 
Group
 
cost:
 
income
 
ratio,
 
excluding
 
litigation
 
and
 
conduct,
 
reducing
 
to
 
59%
 
(Q319
 
YTD:
 
62%)
 
●
 
The
 
effective
 
tax
 
rate
 
was
 
18.2%
 
(Q319
 
YTD:
 
25.0%).
 
This
 
reflects
 
the
 
tax
 
benefit
 
recognised
 
for
 
a
 
re-measurement
 
of
 
UK
deferred
 
tax
 
assets
 
as
 
a
 
result
 
of
 
the
 
UK
 
corporation
 
tax
 
rate
 
being
 
maintained
 
at
 
19%.
 
The
 
Group’s
 
effective
 
tax
 
rate
 
for
 
the
 
full
year
 
is
 
expected
 
to
 
be
 
around
 
20%,
 
excluding
 
litigation
 
and
 
conduct
●
 
Attributable
 
profit
 
was
 
£1,306m
 
(Q319
 
YTD:
 
£1,780m).
 
Excluding
 
litigation
 
and
 
conduct,
 
attributable
 
profit
 
was
 
£1,378m
 
(Q319
YTD:
 
£3,391m),
 
generating
 
a
 
RoTE
 
of
 
3.8%
 
(Q319
 
YTD:
 
9.7%)
 
and
 
EPS
 
of
 
8.0p
 
(Q319
 
YTD:
 
19.7p)
●
 
Total
 
assets
 
increased
 
to
 
£1,422bn
 
(December
 
2019:
 
£1,140bn),
 
primarily
 
due
 
to
 
a
 
£91bn
 
increase
 
in
 
cash
 
and
 
balances
 
at
central
 
banks,
 
£67bn
 
increase
 
in
 
derivative
 
assets
 
and
 
£50bn
 
increase
 
in
 
financial
 
assets
 
at
 
fair
 
value
 
through
 
the
 
income
statement.
 
This
 
is
 
due
 
to
 
the
 
low
 
interest
 
rate
 
environment,
 
increased
 
client
 
activity
 
and
 
the
 
appreciat
 
ion
 
of
 
period
 
end
 
USD
against
 
GBP
 
●
 
Loans
 
and
 
advances
 
at
 
amortised
 
cost
 
increased
 
by
 
£5bn
 
to
 
£344bn,
 
which
 
reflects
 
the
 
£9.7bn
 
of
 
lending
 
under
 
the
 
government
backed
 
Bounce
 
Back
 
Loan
 
Scheme
 
(BBLS)
 
and
 
the
 
CBILS
 
which
 
Barclays
 
UK
 
has
 
provided
 
to
 
support
 
businesses
 
through
 
the
COVID
 
-19
 
pandemic
 
and
 
£3.2bn
 
of
 
mortgage
 
growth.
 
This
 
was
 
partially
 
offset
 
by
 
lower
 
card
 
balances
●
 
Deposits
 
at
 
amortised
 
cost
 
increased
 
by
 
£79bn
 
to
 
£495bn,
 
primarily
 
due
 
to
 
CIB
 
clients
 
increasing
 
liquidity,
 
lower
 
consumer
spending
 
levels
 
and
 
precautionary
 
balance
 
build
●
 
NAV
 
per
 
share
 
was
 
322p
 
(December
 
2019:
 
309p).
 
TNAV
 
per
 
share
 
increased
 
to
 
275p
 
(December
 
2019:
 
262p)
 
reflecting
 
7.6p
 
of
statutory
 
EPS
 
and
 
positive
 
reserve
 
movements,
 
including
 
retirement
 
benefit
 
re-measurements
 
and
 
currency
 
translation
reserves
 
 
Barclays
 
UK
●
 
Profit
 
before
 
tax
 
was
 
£264m
 
(Q319
 
YTD:
 
£375m).
 
Profit
 
before
 
tax,
 
excluding
 
litigation
 
and
 
conduct,
 
was
 
£300m
 
(Q319
 
YTD:
£1,899m).
 
RoE
 
was
 
1.6%
 
(Q319
 
YTD:
 
(1.5%)).
 
RoTE
 
was
 
2.5%
 
(Q319
 
YTD:
 
17.2%)
 
reflecting
 
a
 
challenging
 
operating
 
environment
and
 
materially
 
higher
 
credit
 
impairment
 
charges
●
 
Total
 
income
 
decreased
 
12%
 
to
 
£4,721m.
 
Net
 
interest
 
income
 
reduced
 
11%
 
to
 
£3,917m
 
with
 
a
 
NIM
 
of
 
2.63%
 
(Q319
 
YTD:
3.10%).
 
Net
 
fee,
 
commission
 
and
 
other
 
income
 
decreased
 
18%
 
to
 
£804m
–
 
Personal
 
Banking
 
income
 
decreased
 
11%
 
to
 
£2,627m,
 
reflecting
 
deposit
 
margin
 
compression,
 
COVID
 
-19
 
customer
 
support
actions,
 
and
 
lower
 
unsecured
 
lending
 
balances,
 
partially
 
offset
 
by
 
deposit
 
balance
 
growth
 
and
 
transfer
 
of
 
Barclays
 
Partner
Finance
 
(BPF)
 
from
 
Barclays
 
International
 
in
 
Q220
–
 
Barclaycard
 
Consumer
 
UK
 
income
 
decreased
 
20%
 
to
 
£1,165m
 
as
 
reduced
 
borrowing
 
and
 
spend
 
levels
 
by
 
customers
 
resulted
in
 
a
 
lower
 
level
 
of
 
interest
 
earning
 
lending
 
(IEL)
 
balances,
 
as
 
well
 
as
 
planned
 
lower
 
debt
 
sales
–
 
Business
 
Banking
 
income
 
decreased
 
6%
 
to
 
£929m
 
due
 
to
 
deposit
 
margin
 
compression,
 
lower
 
transactional
 
fee
 
volumes
 
as
 
a
result
 
of
 
COVID
 
-19
 
and
 
related
 
customer
 
support
 
actions,
 
partially
 
offset
 
by
 
balance
 
growth
 
●
 
Credit
 
impairment
 
charges
 
increased
 
to
 
£1,297m
 
(Q319
 
YTD:
 
£522m)
 
reflecting
 
forecast
 
deterioration
 
in
 
macroeconomic
variables
 
in
 
the
 
COVID
 
-19
 
scenarios,
 
partially
 
offset
 
by
 
the
 
estimated
 
impact
 
of
 
central
 
bank,
 
government
 
and
 
other
 
support
measures.
 
As
 
at
 
30
 
September
 
2020,
 
30
 
and
 
90
 
day
 
arrears
 
rates
 
in
 
UK
 
cards
 
were
 
1.7%
 
(Q319:
 
1.7%)
 
and
 
0.8%
 
(Q319:
 
0.8%)
respectively
 
 
1
 
Excluding
 
litigation
 
and
 
conduct.
 
 
Q320EX991P1I0.JPG
Group
 
Finance
 
Director’s
 
Review
 
 
 
 
 
8
 
 
Barclays
 
UK
 
(continued)
 
●
 
Operating
 
expenses
 
increased
 
5%
 
to
 
£3,136m
 
as
 
efficiency
 
savings
 
were
 
more
 
than
 
offset
 
by
 
higher
 
servicing
 
and
 
financial
assistance
 
costs,
 
as
 
well
 
as
 
the
 
transfer
 
of
 
BPF
 
and
 
further
 
investment
●
 
Loans
 
and
 
advances
 
to
 
customers
 
at
 
amortised
 
cost
 
increased
 
5%
 
to
 
£203.9bn
 
predominantly
 
through
 
£9.7bn
 
of
 
BBLS
 
and
 
CBILS
lending,
 
£3.2bn
 
of
 
mortgage
 
growth
 
and
 
the
 
£2.2bn
 
transfer
 
of
 
BPF,
 
partially
 
offset
 
by
 
£4.0bn
 
lower
 
UK
 
cards
 
balances
●
 
Customer
 
deposits
 
at
 
amortised
 
cost
 
increased
 
13%
 
to
 
£232.0bn
 
due
 
to
 
lower
 
customer
 
spending
 
and
 
precautionary
 
balance
build
●
 
RWAs
 
increased
 
to
 
£76.2bn
 
(December
 
2019:
 
£74.9bn)
 
driven
 
by
 
the
 
transfer
 
of
 
BPF
 
and
 
growth
 
in
 
mortgages,
 
partially
 
offset
by
 
a
 
reduction
 
in
 
consumer
 
loans
 
 
 
Barclays
 
International
●
 
Profit
 
before
 
tax
 
was
 
£2,794m,
 
RoE
 
was
 
7.3%
 
(Q319
 
YTD:
 
10.0%),
 
CIB
 
RoE
 
was
 
10.5%
 
(Q319
 
YTD:
 
9.2%)
 
and
 
CC&P
 
RoE
 
was
(9.3)%
 
(Q319
 
YTD:
 
13.2%).
 
Profit
 
before
 
tax,
 
excluding
 
litigation
 
and
 
conduct,
 
decreased
 
19%
 
to
 
£2,833m
 
with
 
a
 
RoTE
 
of
 
7.6%
(Q319
 
YTD:
 
10.4%),
 
reflecting
 
a
 
RoTE
 
of
 
10.5%
 
(Q319
 
YTD:
 
9.3%)
 
in
 
CIB
 
and
 
(9.9)%
 
(Q319
 
YTD:
 
15.8%)
 
in
 
CC&P
●
 
Total
 
income
 
increased
 
to
 
£12,435m
 
(Q319
 
YTD:
 
£11,223m)
–
 
CIB
 
income
 
increased
 
24%
 
to
 
£9,838m
 
–
 
Markets
 
income
 
of
 
£6,255m
 
(Q319
 
YTD:
 
£4,116m)
 
was
 
the
 
best
 
ever
 
Q3
 
YTD
 
on
 
a
 
comparable
 
basis
1
reflecting
 
an
increase
 
in
 
market
 
share
 
in
 
the
 
first
 
half
 
of
 
the
 
year
2
.
 
FICC
 
income
 
increased
 
64%
 
to
 
£4,326m
 
driven
 
by
 
strong
performances
 
in
 
macro
 
and
 
credit,
 
mainly
 
reflecting
 
wider
 
spreads.
 
Equities
 
income
 
increased
 
31%
 
to
 
£1,929m
 
driven
by
 
derivatives
 
and
 
cash
 
due
 
to
 
higher
 
levels
 
of
 
client
 
activity
 
and
 
volatility
–
 
Banking
 
fees
 
income
 
increased
 
1%
 
to
 
£1,977m
 
as
 
a
 
strong
 
performance
 
in
 
equity
 
and
 
debt
 
capital
 
markets,
 
representing
the
 
best
 
ever
 
Q3
 
YTD
 
on
 
a
 
comparable
 
basis
 
for
 
these
 
businesses
1
,
 
was
 
offset
 
by
 
lower
 
fee
 
income
 
in
 
advisory
 
which
was
 
impacted
 
by
 
a
 
reduced
 
fee
 
pool
3
 
–
 
Within
 
Corporate,
 
Transaction
 
banking
 
income
 
decreased
 
6%
 
to
 
£1,202m
 
as
 
deposit
 
balance
 
growth
 
was
 
more
 
than
offset
 
by
 
margin
 
compression.
 
Corporate
 
lending
 
income
 
decreased
 
by
 
28%
 
to
 
£404m
 
reflecting
 
c.£210m
 
of
 
losses
 
on
fair
 
value
 
lending
 
positions
 
and
 
on
 
mark-to
 
-market
 
and
 
carry
 
costs
 
on
 
related
 
hedges
 
in
 
Q320
 
YTD
–
 
CC&P
 
income
 
decreased
 
21%
 
to
 
£2,597m
 
as
 
the
 
impacts
 
of
 
the
 
COVID
 
-19
 
pandemic
 
resulted
 
in
 
lower
 
balances
 
on
 
co-
branded
 
cards,
 
margin
 
compression
 
and
 
reduced
 
payments
 
activity.
 
Q220
 
included
 
a
 
c.£100m
 
valuation
 
loss
 
on
 
Barclays’
preference
 
shares
 
in
 
Visa
 
Inc.
 
resulting
 
from
 
the
 
Q220
 
Supreme
 
Court
 
ruling
 
concerning
 
charges
 
paid
 
by
 
merchants
●
 
Credit
 
impairment
 
charges
 
increased
 
to
 
£2,989m
 
(Q319
 
YTD:
 
£844m)
–
 
CIB
 
credit
 
impairment
 
charges
 
increased
 
to
 
£1,507m
 
(Q319
 
YTD:
 
£127m),
 
reflecting
 
£746m
 
in
 
respect
 
of
 
single
 
name
wholesale
 
loan
 
charges
 
and
 
the
 
impact
 
from
 
updates
 
to
 
forecast
 
macroeconomic
 
variables,
 
partially
 
offset
 
by
 
the
 
estimated
impact
 
of
 
central
 
bank,
 
government
 
and
 
other
 
support
 
measures
 
–
 
CC&P
 
credit
 
impairment
 
charges
 
increased
 
to
 
£1,482m
 
(Q319
 
YTD:
 
£717m)
 
reflecting
 
the
 
impact
 
from
 
updates
 
to
 
forecast
macroeconomic
 
variables,
 
partially
 
offset
 
by
 
the
 
estimated
 
impact
 
of
 
central
 
bank,
 
government
 
and
 
other
 
support
measures.
 
As
 
at
 
30
 
September
 
2020,
 
30
 
and
 
90
 
day
 
arrears
 
in
 
US
 
cards
 
were
 
2.3%
 
(Q319:
 
2.6%)
 
and
 
1.1%
 
(Q319:
 
1.3%)
respectively
●
 
Operating
 
expenses
 
decreased
 
4%
 
to
 
£6,632m
 
–
 
CIB
 
operating
 
expenses
 
decreased
 
2%
 
to
 
£5,086m
 
due
 
to
 
cost
 
efficiencie
 
s
 
and
 
discipline
 
in
 
the
 
current
 
environment
–
 
CC&P
 
operating
 
expenses
 
decreased
 
11%
 
to
 
£1,546m
 
reflecting
 
cost
 
efficiencies,
 
lower
 
marketing
 
spend
 
due
 
to
 
the
 
impacts
of
 
the
 
COVID
 
-19
 
pandemic
 
and
 
transfer
 
of
 
BPF
 
to
 
Barclays
 
UK
 
in
 
Q220
●
 
RWAs
 
increased
 
to
 
£224.7bn
 
(December
 
2019:
 
£209.2bn)
 
primarily
 
due
 
to
 
increased
 
market
 
volatility,
 
client
 
activity
 
and
 
a
reduction
 
in
 
credit
 
quality
 
within
 
CIB,
 
partially
 
offset
 
by
 
lower
 
CC&P
 
balances
 
 
1
 
Period
 
covering
 
Q114
 
–
 
Q320.
 
Pre
 
2014
 
financials
 
were
 
not
 
restated
 
following
 
re-segmentation
 
in
 
Q116.
2
 
Data
 
source:
 
Coalition,
 
H120
 
Competitor
 
Analysis.
 
Market
 
share
 
represents
 
Barclays
 
share
 
of
 
the
 
total
 
industry
 
Revenue
 
Pool.
 
Analysis
 
is
 
based
 
on
 
Barclays
 
internal
business
 
structure
 
and
 
internal
 
revenues.
3
 
Data
 
source:
 
Dealogic
 
for
 
the
 
period
 
covering
 
1
 
January
 
to
 
30
 
September
 
2020.
 
 
Q320EX991P1I0.JPG
Group
 
Finance
 
Director’s
 
Review
 
 
 
 
 
9
 
 
Head
 
Office
 
●
 
Loss
 
before
 
tax
 
was
 
£639m
 
(Q319
 
YTD:
 
£593m).
 
Loss
 
before
 
tax,
 
excluding
 
litigation
 
and
 
conduct,
 
was
 
£608m
 
(Q319
 
YTD:
£465m)
●
 
Total
 
income
 
was
 
an
 
expense
 
of
 
£331m
 
(Q319
 
YTD:
 
£286m),
 
which
 
included
 
treasury
 
items
 
and
 
hedge
 
accounting,
 
mark-to-
market
 
losses
 
on
 
legacy
 
investments
 
and
 
funding
 
costs
 
of
 
legacy
 
capital
 
instruments,
 
partially
 
offset
 
by
 
the
 
recognition
 
of
dividends
 
on
 
Barclays’
 
stake
 
in
 
Absa
 
Group
 
Limited
●
 
Credit
 
impairment
 
charges
 
increased
 
to
 
£60m
 
(Q319
 
YTD:
 
£23m)
 
due
 
to
 
impacts
 
from
 
the
 
COVID
 
-19
 
scenarios
 
on
 
the
 
Italian
home
 
loan
 
portfolio,
 
partially
 
offset
 
by
 
the
 
estimated
 
impact
 
of
 
central
 
bank,
 
government
 
and
 
other
 
support
 
measures
●
 
Operating
 
expenses
 
were
 
£186m
 
(Q319
 
YTD:
 
£155m),
 
which
 
included
 
£73m
 
of
 
charitable
 
donations
 
from
 
Barclays’
 
COVID
 
-19
Community
 
Aid
 
Package
●
 
Other
 
net
 
expenses
 
were
 
£31m
 
(Q319
 
YTD:
 
£1m),
 
which
 
included
 
a
 
fair
 
value
 
loss
 
on
 
an
 
investment
 
in
 
an
 
associate
 
●
 
RWAs
 
decreased
 
to
 
£9.8bn
 
(December
 
2019:
 
£11.0bn)
 
driven
 
by
 
the
 
reduction
 
in
 
value
 
of
 
Barclays’
 
stake
 
in
 
Absa
 
Group
 
Limited
 
 
Group
 
capital
 
and
 
leverage
●
 
The
 
CET1
 
ratio
 
increased
 
to
 
14.6%
 
(December
 
2019:
 
13.8%)
 
–
 
CET1
 
capital
 
increased
 
by
 
£4.7bn
 
to
 
£45.5bn
 
reflecting
 
resilient
 
capital
 
generation
 
through
 
£6.3bn
 
of
 
profits
 
after
 
tax,
excluding
 
credit
 
impairment
 
charges
 
and
 
a
 
£1.0bn
 
increase
 
due
 
to
 
the
 
cancellation
 
of
 
the
 
full
 
year
 
2019
 
dividend.
 
The
 
CET1
capital
 
increase
 
also
 
reflects
 
new
 
regulatory
 
measures
 
implemented
 
in
 
June
 
2020
 
for
 
IFRS
 
9
 
transitional
 
relief
 
and
 
prudent
valuation
–
 
RWAs
 
increased
 
by
 
£15.6bn
 
to
 
£310.7bn
 
primarily
 
due
 
to
 
higher
 
market
 
volatility
 
and
 
client
 
activity
 
within
 
CIB
 
as
 
well
 
as
 
a
reduction
 
in
 
credit
 
quality,
 
partially
 
offset
 
by
 
lower
 
consumer
 
lending
●
 
The
 
average
 
UK
 
leverage
 
ratio
 
increased
 
to
 
5.1%
 
(December
 
2019:
 
4.5%)
 
primarily
 
driven
 
by
 
the
 
increase
 
in
 
CET1
 
capital.
 
The
average
 
leverage
 
exposure
 
decreased
 
by
 
£32bn
 
to
 
£1,111bn
 
(December
 
2019:
 
£1,143bn)
 
largely
 
driven
 
by
 
the
 
Prudential
Regulation
 
Authority’s
 
(PRA)
 
early
 
adoption
 
of
 
CRR
 
II
 
settlement
 
netting
 
 
Group
 
funding
 
and
 
liquidity
●
 
The
 
liquidity
 
pool
 
was
 
£327bn
 
(December
 
2019:
 
£211bn)
 
and
 
the
 
LCR
 
remained
 
significantly
 
above
 
the
 
100%
 
regulatory
requirement
 
at
 
181%
 
(December
 
2019:
 
160%),
 
equivalent
 
to
 
a
 
surplus
 
of
 
£143bn
 
(December
 
2019:
 
£78bn).
 
The
 
increase
 
in
 
the
liquidity
 
pool,
 
LCR
 
and
 
surplus
 
is
 
driven
 
by
 
a
 
19%
 
growth
 
in
 
customer
 
deposits
 
and
 
actions
 
to
 
maintain
 
a
 
prudent
 
funding
 
and
liquidity
 
position
 
in
 
the
 
current
 
environment
●
 
Wholesale
 
funding
 
outstanding,
 
excluding
 
repurchase
 
agreements,
 
was
 
£175.3bn
 
(December
 
2019:
 
£147.1bn).
 
The
 
Group
issued
 
£6.6bn
 
equivalent
 
of
 
minimum
 
requirement
 
for
 
own
 
funds
 
and
 
eligible
 
liabilities
 
(MREL)
 
instruments
 
from
 
Barclays
 
PLC
(the
 
Parent
 
company)
 
during
 
the
 
year
 
to
 
date.
 
The
 
Group
 
is
 
well
 
advanced
 
in
 
its
 
MREL
 
issuance
 
plans,
 
with
 
a
 
Barclays
 
PLC
 
MREL
ratio
 
of
 
32.8%
 
as
 
at
 
30
 
September
 
2020
 
(December
 
2019:
 
31.2%)
 
relative
 
to
 
an
 
estimated
 
requirement
 
(including
 
requisite
buffers)
 
of
 
c.29.9%
 
by
 
1
 
January
 
2022
 
 
Other
 
matters
●
 
As
 
at
 
30
 
September
 
2020,
 
the
 
Group
 
held
 
a
 
provision
 
of
 
£300m
 
relating
 
to
 
PPI.
 
Since
 
the
 
provision
 
increase
 
to
 
£1.4bn
 
in
 
Q319,
96%
 
of
 
the
 
items
 
outstanding
 
as
 
at
 
30
 
September
 
2019
 
have
 
been
 
resolved
 
(including
 
invalid
 
items
 
and
 
claims
 
from
 
the
 
Official
Receiver
 
with
 
whom
 
we
 
reached
 
an
 
agreement
 
in
 
Q320).
 
Observations
 
from
 
these
 
resolved
 
complaints
 
continue
 
to
 
support
 
the
provision
 
level
 
 
 
 
 
 
 
 
 
 
Q320EX991P1I0.JPG
Group
 
Finance
 
Director’s
 
Review
 
 
 
 
 
10
 
 
Group
 
outlook
 
and
 
targets
Outlook
 
remains
 
uncertain
 
and
 
subject
 
to
 
change
 
depending
 
on
 
the
 
evolution
 
and
 
persistence
 
of
 
the
 
COVID
 
-19
 
pandemic
 
and
 
the
outcome
 
of
 
Brexit
 
negotiations
 
Income
●
 
Certain
 
headwinds
 
to
 
income
 
in
 
Barclays
 
UK
 
are
 
expected
 
to
 
persist
 
in
 
2021
 
including
 
the
 
low
 
interest
 
rate
 
environment
●
 
The
 
drivers
 
of
 
CC&P
 
income
 
are
 
showing
 
signs
 
of
 
recovery
 
but
 
the
 
outlook
 
remains
 
uncertain
●
 
After
 
a
 
strong
 
Q320
 
YTD
 
CIB
 
performance
 
driven
 
by
 
Markets,
 
the
 
franchise
 
is
 
well
 
positioned
 
for
 
the
 
future
Impairment
●
 
Provided
 
macroeconomic
 
assumptions
 
remain
 
consistent
 
with
 
expectations,
 
we
 
expect
 
the
 
H220
 
impairment
 
charge
 
to
 
be
materially
 
below
 
that
 
of
 
H120
 
and
 
it
 
is
 
likely
 
that
 
the
 
full
 
year
 
2021
 
impairment
 
charge
 
will
 
be
 
below
 
that
 
of
 
2020
Costs
●
 
The
 
Group
 
expects
 
FY20
 
costs,
 
excluding
 
litigation
 
and
 
conduct,
 
to
 
be
 
broadly
 
flat
 
versus
 
FY19.
 
However,
 
the
 
Group
 
will
 
be
evaluating
 
actions
 
to
 
reduce
 
structural
 
costs,
 
which
 
could
 
result
 
in
 
additional
 
charges,
 
the
 
timing
 
and
 
size
 
of
 
which
 
remain
 
to
 
be
determined
Capital
●
 
The
 
Group
 
remains
 
in
 
a
 
strong
 
capital
 
position
 
and
 
is
 
confident
 
of
 
its
 
capital
 
generation
 
capacity
 
over
 
time,
 
acknowledging
 
likely
headwinds
 
to
 
the
 
CET1
 
ratio
 
from
 
procyclical
 
effects
 
on
 
RWAs
 
and
 
reduced
 
benefit
 
from
 
transitional
 
relief
 
on
 
IFRS
 
9
 
impairment
●
 
The
 
Board
 
recognises
 
the
 
importance
 
of
 
capital
 
returns
 
to
 
shareholders
 
and
 
will
 
provide
 
an
 
update
 
on
 
its
 
policy
 
and
 
dividends
at
 
FY20
 
results
Targets
●
 
The
 
Group
 
continues
 
to
 
target
 
a
 
RoTE
 
of
 
>10%
1
 
and
 
cost:
 
income
 
ratio
 
of
 
<60%
 
over
 
time,
 
but
 
targets
 
remain
 
subject
 
to
 
change
depending
 
on
 
the
 
evolution
 
and
 
persistence
 
of
 
the
 
COVID
 
-19
 
pandemic
 
and
 
the
 
outcome
 
of
 
Brexit
 
negotiations
 
 
 
Tushar
 
Morzaria
 
,
 
Group
 
Finance
 
Director
 
 
 
1
 
Excluding
 
litigation
 
and
 
conduct.
 
 
Q320EX991P1I0.JPG
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Results
 
by
 
Business
 
 
 
 
 
11
 
 
Barclays
 
UK
 
Nine
 
months
 
ended
Nine
 
months
 
ended
30.09.20
30.09.19
Income
 
statement
 
information
£m
£m
%
 
Change
Net
 
interest
 
income
3,917
4,410
(11)
Net
 
fee,
 
commission
 
and
 
other
 
income
 
804
984
(18)
Total
 
income
4,721
5,394
(12)
Credit
 
impairment
 
charges
(1,297)
(522)
 
Net
 
operating
 
income
3,424
4,872
(30)
Operating
 
expenses
(3,136)
(2,973)
(5)
Litigation
 
and
 
conduct
(36)
(1,524)
98
Total
 
operating
 
expenses
(3,172)
(4,497)
29
Other
 
net
 
income
12
-
Profit
 
before
 
tax
264
375
(30)
Attributable
 
profit/(loss)
165
(157)
 
As
 
at
 
30.09.20
As
 
at
 
31.12.19
As
 
at
 
30.09.19
Balance
 
sheet
 
information
£bn
£bn
£bn
Loans
 
and
 
advances
 
to
 
customers
 
at
 
amortised
 
cost
 
203.9
193.7
193.2
Total
 
assets
 
294.5
257.8
257.9
Customer
 
deposits
 
at
 
amortised
 
cost
232.0
205.5
203.3
Loan:
 
deposit
 
ratio
91%
96%
97%
Risk
 
weighted
 
assets
76.2
74.9
76.8
Nine
 
months
 
ended
Nine
 
months
 
ended
Performance
 
measures
30.09.20
30.09.19
Return
 
on
 
average
 
allocated
 
equity
1.6%
(1.5%)
Return
 
on
 
average
 
allocated
 
tangible
 
equity
2.2%
(2.0%)
Average
 
allocated
 
equity
 
(£bn)
13.7
13.9
Average
 
allocated
 
tangible
 
equity
 
(£bn)
10.2
10.4
Cost:
 
income
 
ratio
67%
83%
Loan
 
loss
 
rate
 
(bps)
81
35
Net
 
interest
 
margin
 
2.63%
3.10%
Performance
 
measures
 
excluding
 
litigation
 
and
 
conduct
1
£m
£m
%
 
Change
Profit
 
before
 
tax
300
1,899
(84)
Attributable
 
profit
190
1,332
(86)
Return
 
on
 
average
 
allocated
 
tangible
 
equity
2.5%
17.2%
Cost:
 
income
 
ratio
66%
55%
 
1
 
Refer
 
to
 
pages
 
42
 
to
 
51
 
for
 
further
 
information
 
and
 
calculations
 
of
 
performance
 
measures
 
excluding
 
litigation
 
and
 
conduct.
 
 
Q320EX991P1I0.JPG
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Results
 
by
 
Business
 
 
 
 
 
12
 
 
Analysis
 
of
 
Barclays
 
UK
 
Nine
 
months
 
ended
Nine
 
months
 
ended
30.09.20
30.09.19
Analysis
 
of
 
total
 
income
 
£m
£m
%
 
Change
Personal
 
Banking
2,627
2,945
(11)
Barclaycard
 
Consumer
 
UK
 
1,165
1,459
(20)
Business
 
Banking
929
990
(6)
Total
 
income
4,721
5,394
(12)
Analysis
 
of
 
credit
 
impairment
 
charges
Personal
 
Banking
(312)
(124)
 
Barclaycard
 
Consumer
 
UK
 
(803)
(364)
 
Business
 
Banking
(182)
(34)
 
Total
 
credit
 
impairment
 
charges
(1,297)
(522)
 
As
 
at
 
30.09.20
As
 
at
 
31.12.19
As
 
at
 
30.09.19
Analysis
 
of
 
loans
 
and
 
advances
 
to
 
customers
 
at
 
amortised
 
cost
£bn
£bn
 
£bn
Personal
 
Banking
155.7
151.9
150.1
Barclaycard
 
Consumer
 
UK
 
10.7
14.7
14.9
Business
 
Banking
37.5
27.1
28.2
Total
 
loans
 
and
 
advances
 
to
 
customers
 
at
 
amortised
 
cost
203.9
193.7
193.2
Analysis
 
of
 
customer
 
deposits
 
at
 
amortised
 
cost
Personal
 
Banking
173.2
159.2
157.9
Barclaycard
 
Consumer
 
UK
 
0.1
-
-
Business
 
Banking
58.7
46.3
45.4
Total
 
customer
 
deposits
 
at
 
amortised
 
cost
232.0
205.5
203.3
 
 
Q320EX991P1I0.JPG
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Results
 
by
 
Business
 
 
 
 
 
13
 
 
Barclays
 
International
 
Nine
 
months
 
ended
Nine
 
months
 
ended
30.09.20
30.09.19
Income
 
statement
 
information
£m
£m
%
 
Change
Net
 
interest
 
income
2,668
2,976
(10)
Net
 
trading
 
income
 
5,548
3,270
70
Net
 
fee,
 
commission
 
and
 
other
 
income
 
4,219
4,977
(15)
Total
 
income
12,435
11,223
11
Credit
 
impairment
 
charges
(2,989)
(844)
 
Net
 
operating
 
income
9,446
10,379
(9)
Operating
 
expenses
(6,632)
(6,923)
4
Litigation
 
and
 
conduct
(39)
(30)
(30)
Total
 
operating
 
expenses
(6,671)
(6,953)
4
Other
 
net
 
income
19
52
(63)
Profit
 
before
 
tax
2,794
3,478
(20)
Attributable
 
profit
1,779
2,419
(26)
As
 
at
 
30.09.20
As
 
at
 
31.12.19
As
 
at
 
30.09.19
Balance
 
sheet
 
information
£bn
£bn
£bn
Loans
 
and
 
advances
 
at
 
amortised
 
cost
128.0
132.8
138.1
Trading
 
portfolio
 
assets
 
122.3
113.3
119.4
Derivative
 
financial
 
instrument
 
assets
 
295.9
228.9
286.0
Financial
 
assets
 
at
 
fair
 
value
 
through
 
the
 
income
 
statement
178.2
128.4
158.0
Cash
 
collateral
 
and
 
settlement
 
balances
121.8
79.4
112.5
Other
 
assets
261.7
178.6
195.6
Total
 
assets
 
1,107.9
861.4
1,009.6
Deposits
 
at
 
amortised
 
cost
262.4
210.0
217.6
Derivative
 
financial
 
instrument
 
liabilities
293.3
228.9
283.3
Loan:
 
deposit
 
ratio
49%
63%
63%
Risk
 
weighted
 
assets
224.7
209.2
223.1
Nine
 
months
 
ended
Nine
 
months
 
ended
Performance
 
measures
30.09.20
30.09.19
Return
 
on
 
average
 
allocated
 
equity
7.3%
10.0%
Return
 
on
 
average
 
allocated
 
tangible
 
equity
7.5%
10.3%
Average
 
allocated
 
equity
 
(£bn)
32.4
32.3
Average
 
allocated
 
tangible
 
equity
 
(£bn)
31.8
31.2
Cost:
 
income
 
ratio
54%
62%
Loan
 
loss
 
rate
 
(bps)
300
80
Net
 
interest
 
margin
3.71%
4.00%
Performance
 
measures
 
excluding
 
litigation
 
and
 
conduct
1
£m
£m
%
 
Change
Profit
 
before
 
tax
2,833
3,508
(19)
Attributable
 
profit
1,808
2,445
(26)
Return
 
on
 
average
 
allocated
 
tangible
 
equity
7.6%
10.4%
Cost:
 
income
 
ratio
53%
62%
 
1
 
Refer
 
to
 
pages
 
42
 
to
 
51
 
for
 
further
 
information
 
and
 
calculations
 
of
 
performance
 
measures
 
excluding
 
litigation
 
and
 
conduct.
 
 
 
Q320EX991P1I0.JPG
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Results
 
by
 
Business
 
 
 
 
 
14
 
 
Analysis
 
of
 
Barclays
 
International
Corporate
 
and
 
Investment
 
Bank
Nine
 
months
 
ended
Nine
 
months
 
ended
30.09.20
30.09.19
Income
 
statement
 
information
£m
£m
%
 
Change
 
FICC
4,326
2,638
64
Equities
1,929
1,478
31
Markets
6,255
4,116
52
Advisory
329
574
(43)
Equity
 
capital
 
markets
369
273
35
Debt
 
capital
 
markets
1,279
1,108
15
Banking
 
fees
1,977
1,955
1
Corporate
 
lending
404
563
(28)
Transaction
 
banking
1,202
1,283
(6)
Corporate
1,606
1,846
(13)
Total
 
income
9,838
7,917
24
Credit
 
impairment
 
charges
(1,507)
(127)
 
Net
 
operating
 
income
8,331
7,790
7
Operating
 
expenses
(5,086)
(5,191)
2
Litigation
 
and
 
conduct
(6)
(30)
80
Total
 
operating
 
expenses
(5,092)
(5,221)
2
Other
 
net
 
income
4
27
(85)
Profit
 
before
 
tax
 
3,243
2,596
25
Attributable
 
profit
2,141
1,787
20
As
 
at
 
30.09.20
As
 
at
 
31.12.19
As
 
at
 
30.09.19
Balance
 
sheet
 
information
£bn
£bn
£bn
Loans
 
and
 
advances
 
at
 
amortised
 
cost
96.8
92.0
95.8
Trading
 
portfolio
 
assets
122.2
113.3
119.3
Derivative
 
financial
 
instrument
 
assets
295.9
228.8
286.0
Financial
 
assets
 
at
 
fair
 
value
 
through
 
the
 
income
 
statement
177.9
127.7
157.3
Cash
 
collateral
 
and
 
settlement
 
balances
121.0
78.5
111.6
Other
 
assets
228.9
155.3
171.5
Total
 
assets
1,042.7
795.6
941.5
Deposits
 
at
 
amortised
 
cost
195.6
146.2
152.1
Derivative
 
financial
 
instrument
 
liabilities
293.2
228.9
283.2
Risk
 
weighted
 
assets
 
193.3
171.5
184.9
Nine
 
months
 
ended
Nine
 
months
 
ended
Performance
 
measures
30.09.20
30.09.19
Return
 
on
 
average
 
tangible
 
equity
10.5%
9.2%
Return
 
on
 
average
 
allocated
 
tangible
 
equity
10.5%
9.2%
Average
 
allocated
 
equity
 
(£bn)
27.2
25.9
Average
 
allocated
 
tangible
 
equity
 
(£bn)
27.2
25.9
Cost:
 
income
 
ratio
52%
66%
Performance
 
measures
 
excluding
 
litigation
 
and
 
conduct
1
£m
£m
%
 
Change
Profit
 
before
 
tax
3,249
2,626
24
Attributable
 
profit
2,145
1,813
18
Return
 
on
 
average
 
allocated
 
tangible
 
equity
10.5%
9.3%
Cost:
 
income
 
ratio
52%
66%
 
1
 
Refer
 
to
 
pages
 
42
 
to
 
51
 
for
 
further
 
information
 
and
 
calculations
 
of
 
performance
 
measures
 
excluding
 
litigation
 
and
 
conduct.
 
 
Q320EX991P1I0.JPG
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Results
 
by
 
Business
 
 
 
 
 
15
 
 
Analysis
 
of
 
Barclays
 
International
Consumer,
 
Cards
 
and
 
Payments
Nine
 
months
 
ended
Nine
 
months
 
ended
30.09.20
30.09.19
Income
 
statement
 
information
£m
£m
%
 
Change
 
Net
 
interest
 
income
1,694
2,105
(20)
Net
 
fee,
 
commission,
 
trading
 
and
 
other
 
income
903
1,201
(25)
Total
 
income
2,597
3,306
(21)
Credit
 
impairment
 
charges
(1,482)
(717)
 
Net
 
operating
 
income
1,115
2,589
(57)
Operating
 
expenses
(1,546)
(1,732)
11
Litigation
 
and
 
conduct
(33)
-
Total
 
operating
 
expenses
(1,579)
(1,732)
9
Other
 
net
 
income
15
25
(40)
(Loss)/profit
 
before
 
tax
(449)
882
 
Attributable
 
(loss)/profit
(362)
632
 
As
 
at
 
30.09.20
As
 
at
 
31.12.19
As
 
at
 
30.09.19
Balance
 
sheet
 
information
£bn
£bn
£bn
Loans
 
and
 
advances
 
at
 
amortised
 
cost
31.2
40.8
42.3
Total
 
assets
65.2
65.8
68.1
Deposits
 
at
 
amortised
 
cost
66.8
63.8
65.5
Risk
 
weighted
 
assets
 
31.4
37.7
38.2
Nine
 
months
 
ended
Nine
 
months
 
ended
Performance
 
measures
30.09.20
30.09.19
Return
 
on
 
average
 
allocated
 
equity
(9.3%)
13.2%
Return
 
on
 
average
 
allocated
 
tangible
 
equity
(10.6%)
15.8%
Average
 
allocated
 
equity
 
(£bn)
5.2
6.4
Average
 
allocated
 
tangible
 
equity
 
(£bn)
4.6
5.3
Cost:
 
income
 
ratio
61%
52%
Loan
 
loss
 
rate
 
(bps)
577
213
Performance
 
measures
 
excluding
 
litigation
 
and
 
conduct
1
£m
£m
%
 
Change
(Loss)/profit
 
before
 
tax
(416)
882
 
Attributable
 
(loss)/profit
(337)
632
 
Return
 
on
 
average
 
allocated
 
tangible
 
equity
(9.9%)
15.8%
Cost:
 
income
 
ratio
60%
52%
 
1
 
Refer
 
to
 
pages
 
42
 
to
 
51
 
for
 
further
 
information
 
and
 
calculations
 
of
 
performance
 
measures
 
excluding
 
litigation
 
and
 
conduct.
 
 
Q320EX991P1I0.JPG
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Results
 
by
 
Business
 
 
 
 
 
16
 
 
Head
 
Office
 
Nine
 
months
 
ended
Nine
 
months
 
ended
30.09.20
30.09.19
Income
 
statement
 
information
£m
£m
%
 
Change
Net
 
interest
 
income
 
(307)
(323)
5
Net
 
fee,
 
commission
 
and
 
other
 
income
(24)
37
 
Total
 
income
(331)
(286)
(16)
Credit
 
impairment
 
charges
(60)
(23)
 
Net
 
operating
 
income
(391)
(309)
(27)
Operating
 
expenses
(186)
(155)
(20)
Litigation
 
and
 
conduct
(31)
(128)
76
Total
 
operating
 
expenses
(217)
(283)
23
Other
 
net
 
expenses
(31)
(1)
 
Loss
 
before
 
tax
(639)
(593)
(8)
Attributable
 
loss
(638)
(482)
(32)
As
 
at
 
30.09.20
As
 
at
 
31.12.19
As
 
at
 
30.09.19
Balance
 
sheet
 
information
£bn
£bn
£bn
Total
 
assets
19.3
21.0
22.9
Risk
 
weighted
 
assets
9.8
11.0
13.4
Nine
 
months
 
ended
Nine
 
months
 
ended
Performance
 
measures
30.09.20
30.09.19
Average
 
allocated
 
equity
 
(£bn)
10.5
8.4
Average
 
allocated
 
tangible
 
equity
 
(£bn)
6.5
5.0
Performance
 
measures
 
excluding
 
litigation
 
and
 
conduct
1
£m
£m
%
 
Change
Loss
 
before
 
tax
(608)
(465)
(31)
Attributable
 
loss
(620)
(386)
(61)
 
1
 
Refer
 
to
 
pages
 
42
 
to
 
51
 
for
 
further
 
information
 
and
 
calculations
 
of
 
performance
 
measures
 
excluding
 
litigation
 
and
 
conduct.
 
 
Q320EX991P1I0.JPG
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Quarterly
 
Results
 
Summary
 
 
 
 
 
17
 
 
Barclays
 
Group
 
Q320
Q220
Q120
Q419
Q319
Q219
Q119
Q418
Income
 
statement
 
information
£m
£m
£m
£m
£m
£m
£m
£m
Net
 
interest
 
income
2,055
1,892
2,331
2,344
2,445
2,360
2,258
2,296
Net
 
fee,
 
commission
 
and
 
other
 
income
3,149
3,446
3,952
2,957
3,096
3,178
2,994
2,777
Total
 
income
 
5,204
5,338
6,283
5,301
5,541
5,538
5,252
5,073
Credit
 
impairment
 
charges
(608)
(1,623)
(2,115)
(523)
(461)
(480)
(448)
(643)
Net
 
operating
 
income
4,596
3,715
4,168
4,778
5,080
5,058
4,804
4,430
Operating
 
costs
(3,391)
(3,310)
(3,253)
(3,308)
(3,293)
(3,501)
(3,257)
(3,624)
UK
 
bank
 
levy
-
-
-
(226)
-
-
-
(269)
Operating
 
expenses
(3,391)
(3,310)
(3,253)
(3,534)
(3,293)
(3,501)
(3,257)
(3,893)
Guaranteed
 
Minimum
 
Pensions
 
(GMP)
 
charge
-
-
-
-
-
-
-
(140)
Litigation
 
and
 
conduct
(76)
(20)
(10)
(167)
(1,568)
(53)
(61)
(60)
Total
 
operating
 
expenses
(3,467)
(3,330)
(3,263)
(3,701)
(4,861)
(3,554)
(3,318)
(4,093)
Other
 
net
 
income/(expenses)
18
(26)
8
20
27
27
(3)
37
Profit
 
before
 
tax
 
1,147
359
913
1,097
246
1,531
1,483
374
Tax
 
charge
(328)
(42)
(71)
(189)
(269)
(297)
(248)
(75)
Profit/(loss)
 
after
 
tax
 
819
317
842
908
(23)
1,234
1,235
299
Non-controlling
 
interests
(4)
(21)
(16)
(42)
(4)
(17)
(17)
(83)
Other
 
equity
 
instrument
 
holders
(204)
(206)
(221)
(185)
(265)
(183)
(180)
(230)
Attributable
 
profit/(loss)
611
90
605
681
(292)
1,034
1,038
(14)
Performance
 
measures
Return
 
on
 
average
 
shareholders'
 
equity
 
4.3%
0.6%
4.4%
5.0%
(2.1%)
7.6%
7.8%
(0.1%)
Return
 
on
 
average
 
tangible
 
shareholders'
 
equity
 
5.1%
0.7%
5.1%
5.9%
(2.4%)
9.0%
9.2%
(0.1%)
Average
 
shareholders'
 
equity
 
(£bn)
56.4
58.4
55.2
54.5
56.4
54.0
53.2
52.2
Average
 
tangible
 
shareholders'
 
equity
 
(£bn)
48.3
50.2
47.0
46.4
48.4
46.2
45.2
44.3
Cost:
 
income
 
ratio
67%
62%
52%
70%
88%
64%
63%
81%
Loan
 
loss
 
rate
 
(bps)
69
179
223
60
52
56
54
77
Basic
 
earnings/(loss)
 
per
 
share
 
3.5p
0.5p
3.5p
3.9p
(1.7p)
6.0p
6.1p
(0.1p)
Performance
 
measures
 
excluding
litigation
 
and
 
conduct
1
£m
£m
£m
£m
£m
£m
£m
£m
Profit
 
before
 
tax
1,223
379
923
1,264
1,814
1,584
1,544
434
Attributable
 
profit
668
106
604
803
1,233
1,074
1,084
48
Return
 
on
 
average
 
tangible
 
shareholders'
 
equity
5.5%
0.8%
5.1%
6.9%
10.2%
9.3%
9.6%
0.4%
Cost:
 
income
 
ratio
65%
62%
52%
67%
59%
63%
62%
79%
Basic
 
earnings
 
per
 
share
3.9p
0.6p
3.5p
4.7p
7.2p
6.3p
6.3p
0.3p
Balance
 
sheet
 
and
 
capital
 
management
2
£bn
£bn
£bn
£bn
£bn
£bn
£bn
£bn
Loans
 
and
 
advances
 
at
 
amortised
 
cost
344.4
354.9
374.1
339.1
345.1
339.3
330.7
326.4
Total
 
assets
1,421.7
1,385.1
1,444.3
1,140.2
1,290.4
1,232.8
1,193.5
1,133.3
Deposits
 
at
 
amortised
 
cost
494.6
466.9
470.7
415.8
420.6
413.6
412.7
394.8
Net
 
asset
 
value
 
per
 
share
322p
331p
332p
309p
320p
322p
312p
309p
Tangible
 
net
 
asset
 
value
 
per
 
share
275p
284p
284p
262p
274p
275p
266p
262p
Common
 
equity
 
tier
 
1
 
ratio
14.6%
14.2%
13.1%
13.8%
13.4%
13.4%
13.0%
13.2%
Common
 
equity
 
tier
 
1
 
capital
45.5
45.4
42.5
40.8
41.9
42.9
41.4
41.1
Risk
 
weighted
 
assets
 
310.7
319.0
325.6
295.1
313.3
319.1
319.7
311.9
Average
 
UK
 
leverage
 
ratio
5.1%
4.7%
4.5%
4.5%
4.6%
4.7%
4.6%
4.5%
Average
 
UK
 
leverage
 
exposure
1,111.1
1,148.7
1,176.2
1,142.8
1,171.2
1,134.6
1,105.5
1,110.0
UK
 
leverage
 
ratio
5.2%
5.2%
4.5%
5.1%
4.8%
5.1%
4.9%
5.1%
UK
 
leverage
 
exposure
1,095.1
1,071.1
1,178.7
1,007.7
1,099.8
1,079.4
1,065.0
998.6
Funding
 
and
 
liquidity
Group
 
liquidity
 
(£bn)
327
298
237
211
226
238
232
227
Liquidity
 
coverage
 
ratio
181%
186%
155%
160%
151%
156%
160%
169%
Loan:
 
deposit
 
ratio
70%
76%
79%
82%
82%
82%
80%
83%
 
1
 
Re
 
fer
 
to
 
pages
 
42
 
to
 
51
 
for
 
further
 
information
 
and
 
calculations
 
of
 
performance
 
measures
 
excluding
 
litigation
 
and
 
conduct.
2
 
Refer
 
to
 
pages
 
31
 
to
 
37
 
for
 
further
 
information
 
on
 
how
 
capital,
 
RWAs
 
and
 
leverage
 
are
 
calculated.
 
 
Q320EX991P1I0.JPG
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Quarterly
 
Results
 
by
 
Business
 
 
 
 
 
18
 
 
Barclays
 
UK
Q320
Q220
Q120
Q419
Q319
Q219
Q119
Q418
Income
 
statement
 
information
£m
£m
£m
£m
£m
£m
£m
£m
Net
 
interest
 
income
1,280
1,225
1,412
1,478
1,503
1,438
1,469
1,513
Net
 
fee,
 
commission
 
and
 
other
 
income
270
242
292
481
343
333
308
350
Total
 
income
1,550
1,467
1,704
1,959
1,846
1,771
1,777
1,863
Credit
 
impairment
 
charges
(233)
(583)
(481)
(190)
(101)
(230)
(191)
(296)
Net
 
operating
 
income
1,317
884
1,223
1,769
1,745
1,541
1,586
1,567
Operating
 
costs
(1,095)
(1,018)
(1,023)
(1,023)
(952)
(1,022)
(999)
(1,114)
UK
 
bank
 
levy
-
-
-
(41)
-
-
-
(46)
Operating
 
expenses
(1,095)
(1,018)
(1,023)
(1,064)
(952)
(1,022)
(999)
(1,160)
Litigation
 
and
 
conduct
(25)
(6)
(5)
(58)
(1,480)
(41)
(3)
(15)
Total
 
operating
 
expenses
(1,120)
(1,024)
(1,028)
(1,122)
(2,432)
(1,063)
(1,002)
(1,175)
Other
 
net
 
(expenses)/income
(1)
13
-
-
-
(1)
1
(2)
Profit/(loss)
 
before
 
tax
 
196
(127)
195
647
(687)
477
585
390
Attributable
 
profit/loss
113
(123)
175
438
(907)
328
422
241
Balance
 
sheet
 
information
£bn
£bn
£bn
£bn
£bn
£bn
£bn
£bn
Loans
 
and
 
advances
 
to
 
customers
 
at
 
amortised
cost
203.9
202.0
195.7
193.7
193.2
189.1
187.5
187.6
Total
 
assets
294.5
287.6
267.5
257.8
257.9
259.0
253.1
249.7
Customer
 
deposits
 
at
 
amortised
 
cost
232.0
225.7
207.5
205.5
203.3
200.9
197.3
197.3
Loan:
 
deposit
 
ratio
91%
92%
96%
96%
97%
97%
96%
96%
Risk
 
weighted
 
assets
76.2
77.9
77.7
74.9
76.8
76.2
76.6
75.2
Performance
 
measures
Return
 
on
 
average
 
allocated
 
equity
3.3%
(3.6%)
5.1%
12.7%
(26.1%)
9.5%
12.2%
7.1%
Return
 
on
 
average
 
allocated
 
tangible
 
equity
4.5%
(4.8%)
6.9%
17.0%
(34.9%)
12.7%
16.3%
9.6%
Average
 
allocated
 
equity
 
(£bn)
13.7
13.9
13.7
13.8
13.9
13.8
13.9
13.6
Average
 
allocated
 
tangible
 
equity
 
(£bn)
10.1
10.3
10.1
10.3
10.4
10.3
10.4
10.1
Cost:
 
income
 
ratio
72%
70%
60%
57%
132%
60%
56%
63%
Loan
 
loss
 
rate
 
(bps)
43
111
96
38
20
47
40
61
Net
 
interest
 
margin
2.51%
2.48%
2.91%
3.03%
3.10%
3.05%
3.18%
3.20%
Performance
 
measures
 
excluding
litigation
 
and
 
conduct
1
£m
£m
£m
£m
£m
£m
£m
£m
Profit/(loss)
 
before
 
tax
221
(121)
200
705
793
518
588
405
Attributable
 
profit/(loss)
130
(118)
178
481
550
358
424
253
Return
 
on
 
average
 
allocated
 
tangible
 
equity
5.2%
(4.6%)
7.0%
18.7%
21.2%
13.9%
16.4%
10.1%
Cost:
 
income
 
ratio
71%
69%
60%
54%
52%
58%
56%
62%
 
1
 
Refer
 
to
 
pages
 
42
 
to
 
51
 
for
 
further
 
information
 
and
 
calculations
 
of
 
performance
 
measures
 
excluding
 
litigation
 
and
 
conduct.
 
 
Q320EX991P1I0.JPG
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Quarterly
 
Results
 
by
 
Business
 
 
 
 
 
19
 
 
Analysis
 
of
 
Barclays
 
UK
Q320
Q220
Q120
Q419
Q319
Q219
Q119
Q418
Analysis
 
of
 
total
 
income
£m
£m
£m
£m
£m
£m
£m
£m
Personal
 
Banking
833
826
968
1,064
1,035
946
964
998
Barclaycard
 
Consumer
 
UK
362
367
436
533
472
497
490
522
Business
 
Banking
355
274
300
362
339
328
323
343
Total
 
income
1,550
1,467
1,704
1,959
1,846
1,771
1,777
1,863
Analysis
 
of
 
credit
 
impairment
 
(charges)/releases
Personal
 
Banking
(48)
(130)
(134)
(71)
(36)
(36)
(52)
(44)
Barclaycard
 
Consumer
 
UK
(106)
(396)
(301)
(108)
(49)
(175)
(140)
(250)
Business
 
Banking
(79)
(57)
(46)
(11)
(16)
(19)
1
(2)
Total
 
credit
 
impairment
 
charges
(233)
(583)
(481)
(190)
(101)
(230)
(191)
(296)
Analysis
 
of
 
loans
 
and
 
advances
 
to
 
customers
 
at
amortised
 
cost
£bn
£bn
£bn
£bn
£bn
£bn
£bn
£bn
Personal
 
Banking
155.7
154.9
153.4
151.9
150.1
147.3
145.9
146.0
Barclaycard
 
Consumer
 
UK
10.7
11.5
13.6
14.7
14.9
15.1
15.0
15.3
Business
 
Banking
37.5
35.6
28.7
27.1
28.2
26.7
26.6
26.3
Total
 
loans
 
and
 
advances
 
to
 
customers
 
at
amortised
 
cost
203.9
202.0
195.7
193.7
193.2
189.1
187.5
187.6
Analysis
 
of
 
customer
 
deposits
 
at
 
amortised
 
cost
Personal
 
Banking
173.2
169.6
161.4
159.2
157.9
156.3
154.1
154.0
Barclaycard
 
Consumer
 
UK
0.1
0.1
-
-
-
-
-
-
Business
 
Banking
58.7
56.0
46.1
46.3
45.4
44.6
43.2
43.3
Total
 
customer
 
deposits
 
at
 
amortised
 
cost
232.0
225.7
207.5
205.5
203.3
200.9
197.3
197.3
 
 
Q320EX991P1I0.JPG
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Quarterly
 
Results
 
by
 
Business
 
 
 
 
 
20
 
 
Barclays
 
International
Q320
Q220
Q120
Q419
Q319
Q219
Q119
Q418
Income
 
statement
 
information
£m
£m
£m
£m
£m
£m
£m
£m
Net
 
interest
 
income
823
847
998
965
1,059
1,017
900
984
Net
 
trading
 
income
1,528
1,660
2,360
929
1,110
1,016
1,144
837
Net
 
fee,
 
commission
 
and
 
other
 
income
1,430
1,503
1,286
1,558
1,581
1,870
1,526
1,400
Total
 
income
3,781
4,010
4,644
3,452
3,750
3,903
3,570
3,221
Credit
 
impairment
 
charges
(370)
(1,010)
(1,609)
(329)
(352)
(247)
(245)
(354)
Net
 
operating
 
income
3,411
3,000
3,035
3,123
3,398
3,656
3,325
2,867
Operating
 
costs
(2,227)
(2,186)
(2,219)
(2,240)
(2,282)
(2,435)
(2,206)
(2,441)
UK
 
bank
 
levy
-
-
-
(174)
-
-
-
(210)
Operating
 
expenses
(2,227)
(2,186)
(2,219)
(2,414)
(2,282)
(2,435)
(2,206)
(2,651)
Litigation
 
and
 
conduct
(28)
(11)
-
(86)
-
(11)
(19)
(33)
Total
 
operating
 
expenses
(2,255)
(2,197)
(2,219)
(2,500)
(2,282)
(2,446)
(2,225)
(2,684)
Other
 
net
 
income
9
4
6
17
21
13
18
32
Profit
 
before
 
tax
 
1,165
807
822
640
1,137
1,223
1,118
215
Attributable
 
profit/(loss)
782
468
529
397
799
832
788
(21)
Balance
 
sheet
 
information
£bn
£bn
£bn
£bn
£bn
£bn
£bn
£bn
Loans
 
and
 
advances
 
at
 
amortised
 
cost
128.0
138.1
167.0
132.8
138.1
134.8
130.9
127.2
Trading
 
portfolio
 
assets
122.3
109.5
101.6
113.3
119.4
120.0
117.2
104.0
Derivative
 
financial
 
instrument
 
assets
295.9
306.8
341.5
228.9
286.0
243.8
217.3
222.1
Financial
 
assets
 
at
 
fair
 
value
 
through
 
the
 
income
statement
178.2
154.3
188.4
128.4
158.0
154.7
153.5
144.7
Cash
 
collateral
 
and
 
settlement
 
balances
121.8
130.8
153.2
79.4
112.5
101.3
97.8
74.3
Other
 
assets
261.7
236.3
201.5
178.6
195.6
196.8
202.3
189.8
Total
 
assets
1,107.9
1,075.8
1,153.2
861.4
1,009.6
951.4
919.0
862.1
Deposits
 
at
 
amortised
 
cost
262.4
241.2
263.3
210.0
217.6
212.0
215.5
197.2
Derivative
 
financial
 
instrument
 
liabilities
293.3
307.6
338.8
228.9
283.3
243.0
213.5
219.6
Loan:
 
deposit
 
ratio
49%
57%
63%
63%
63%
64%
61%
65%
Risk
 
weighted
 
assets
224.7
231.2
237.9
209.2
223.1
214.8
216.1
210.7
Performance
 
measures
Return
 
on
 
average
 
allocated
 
equity
10.0%
5.5%
6.6%
5.0%
9.6%
10.3%
10.0%
(0.3%)
Return
 
on
 
average
 
allocated
 
tangible
 
equity
10.2%
5.6%
6.8%
5.1%
9.9%
10.7%
10.4%
(0.3%)
Average
 
allocated
 
equity
 
(£bn)
31.2
34.2
31.9
31.9
33.3
32.1
31.6
32.4
Average
 
allocated
 
tangible
 
equity
 
(£bn)
30.6
33.5
31.2
30.9
32.2
31.1
30.5
31.3
Cost:
 
income
 
ratio
60%
55%
48%
72%
61%
63%
62%
83%
Loan
 
loss
 
rate
 
(bps)
112
284
377
96
99
72
73
107
Net
 
interest
 
margin
3.79%
3.43%
3.93%
4.29%
4.10%
3.91%
3.99%
3.98%
Performance
 
measures
 
excluding
litigation
 
and
 
conduct
1
£m
£m
£m
£m
£m
£m
£m
£m
Profit
 
before
 
tax
1,193
818
822
726
1,137
1,234
1,137
248
Attributable
 
profit
803
476
529
461
801
840
804
13
Return
 
on
 
average
 
allocated
 
tangible
 
equity
10.5%
5.7%
6.8%
6.0%
10.0%
10.8%
10.6%
0.2%
Cost:
 
income
 
ratio
59%
55%
48%
70%
61%
62%
62%
82%
 
1
 
Refer
 
to
 
pages
 
42
 
to
 
51
 
for
 
further
 
information
 
and
 
calculations
 
of
 
performance
 
measures
 
excluding
 
litigation
 
and
 
conduct.
 
 
 
Q320EX991P1I0.JPG
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Quarterly
 
Results
 
by
 
Business
 
 
 
 
 
21
 
 
Analysis
 
of
 
Barclays
 
International
Corporate
 
and
 
Investment
 
Bank
Q320
Q220
Q120
Q419
Q319
Q219
Q119
Q418
Income
 
statement
 
information
£m
£m
£m
£m
£m
£m
£m
£m
FICC
1,000
1,468
1,858
726
816
920
902
570
Equities
691
674
564
409
494
517
467
375
Markets
1,691
2,142
2,422
1,135
1,310
1,437
1,369
945
Advisory
90
84
155
202
221
221
132
242
Equity
 
capital
 
markets
122
185
62
56
86
104
83
53
Debt
 
capital
 
markets
398
463
418
322
381
373
354
330
Banking
 
fees
610
732
635
580
688
698
569
625
Corporate
 
lending
232
61
111
202
195
216
152
243
Transaction
 
banking
372
381
449
397
424
444
415
412
Corporate
604
442
560
599
619
660
567
655
Other
-
-
-
-
-
-
-
(74)
Total
 
income
2,905
3,316
3,617
2,314
2,617
2,795
2,505
2,151
Credit
 
impairment
 
charges
(187)
(596)
(724)
(30)
(31)
(44)
(52)
(35)
Net
 
operating
 
income
2,718
2,720
2,893
2,284
2,586
2,751
2,453
2,116
Operating
 
costs
(1,716)
(1,680)
(1,690)
(1,691)
(1,712)
(1,860)
(1,619)
(1,835)
UK
 
bank
 
levy
-
-
-
(156)
-
-
-
(188)
Operating
 
expenses
(1,716)
(1,680)
(1,690)
(1,847)
(1,712)
(1,860)
(1,619)
(2,023)
Litigation
 
and
 
conduct
(3)
(3)
-
(79)
(4)
(7)
(19)
(23)
Total
 
operating
 
expenses
(1,719)
(1,683)
(1,690)
(1,926)
(1,716)
(1,867)
(1,638)
(2,046)
Other
 
net
 
income
1
3
-
1
12
3
12
15
Profit
 
before
 
tax
 
1,000
1,040
1,203
359
882
887
827
85
Attributable
 
profit/(loss)
627
694
820
193
609
596
582
(84)
Balance
 
sheet
 
information
£bn
£bn
£bn
£bn
£bn
£bn
£bn
£bn
Loans
 
and
 
advances
 
at
 
amortised
 
cost
96.8
104.9
128.2
92.0
95.8
92.1
90.6
86.4
Trading
 
portfolio
 
assets
122.2
109.3
101.5
113.3
119.3
119.9
117.2
104.0
Derivative
 
financial
 
instruments
 
assets
295.9
306.7
341.4
228.8
286.0
243.7
217.3
222.1
Financial
 
assets
 
at
 
fair
 
value
 
through
 
the
 
income
statement
177.9
153.7
187.8
127.7
157.3
154.1
152.9
144.2
Cash
 
collateral
 
and
 
settlement
 
balances
121.0
129.7
152.2
78.5
111.6
100.4
96.9
73.4
Other
 
assets
228.9
205.5
171.4
155.3
171.5
168.1
163.2
160.4
Total
 
assets
1,042.7
1,009.8
1,082.5
795.6
941.5
878.3
838.1
790.5
Deposits
 
at
 
amortised
 
cost
195.6
173.9
198.4
146.2
152.1
145.4
151.4
136.3
Derivative
 
financial
 
instrument
 
liabilities
293.2
307.6
338.7
228.9
283.2
242.9
213.5
219.6
Risk
 
weighted
 
assets
 
193.3
198.3
201.7
171.5
184.9
175.9
176.6
170.9
Performance
 
measures
Return
 
on
 
average
 
allocated
 
equity
9.5%
9.5%
12.5%
3.0%
9.1%
9.2%
9.3%
(1.3%)
Return
 
on
 
average
 
allocated
 
tangible
 
equity
9.5%
9.6%
12.5%
3.0%
9.1%
9.2%
9.3%
(1.3%)
Average
 
allocated
 
equity
 
(£bn)
26.4
29.1
26.2
25.9
26.9
25.8
25.2
26.0
Average
 
allocated
 
tangible
 
equity
 
(£bn)
26.4
29.0
26.2
25.8
26.9
25.8
25.1
26.0
Cost:
 
income
 
ratio
59%
51%
47%
83%
66%
67%
65%
95%
Performance
 
measures
 
excluding
litigation
 
and
 
conduct
1
£m
£m
£m
£m
£m
£m
£m
£m
Profit
 
before
 
tax
1,003
1,043
1,203
438
886
894
846
108
Attributable
 
profit/(loss)
629
696
820
251
614
601
598
(57)
Return
 
on
 
average
 
allocated
 
tangible
 
equity
9.5%
9.6%
12.5%
3.9%
9.2%
9.3%
9.5%
(0.9%)
Cost:
 
income
 
ratio
59%
51%
47%
80%
65%
67%
65%
94%
 
1
 
Refer
 
to
 
pages
 
42
 
to
 
51
 
for
 
further
 
information
 
and
 
calculations
 
of
 
performance
 
measures
 
excluding
 
litigation
 
and
 
conduct.
 
 
Q320EX991P1I0.JPG
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Quarterly
 
Results
 
by
 
Business
 
 
 
 
 
22
 
 
Analysis
 
of
 
Barclays
 
International
Consumer,
 
Cards
 
and
 
Payments
Q320
Q220
Q120
Q419
Q319
Q219
Q119
Q418
Income
 
statement
 
information
£m
£m
£m
£m
£m
£m
£m
£m
Net
 
interest
 
income
518
513
663
717
720
720
665
664
Net
 
fee,
 
commission,
 
trading
 
and
 
other
 
income
358
181
364
421
413
388
400
406
Total
 
income
876
694
1,027
1,138
1,133
1,108
1,065
1,070
Credit
 
impairment
 
charges
(183)
(414)
(885)
(299)
(321)
(203)
(193)
(319)
Net
 
operating
 
income
693
280
142
839
812
905
872
751
Operating
 
costs
(511)
(506)
(529)
(549)
(570)
(575)
(587)
(606)
UK
 
bank
 
levy
-
-
-
(18)
-
-
-
(22)
Operating
 
expenses
(511)
(506)
(529)
(567)
(570)
(575)
(587)
(628)
Litigation
 
and
 
conduct
(25)
(8)
-
(7)
4
(4)
-
(10)
Total
 
operating
 
expenses
(536)
(514)
(529)
(574)
(566)
(579)
(587)
(638)
Other
 
net
 
income
8
1
6
16
9
10
6
17
Profit/(loss)
 
before
 
tax
165
(233)
(381)
281
255
336
291
130
Attributable
 
profit/(loss)
155
(226)
(291)
204
190
236
206
63
Balance
 
sheet
 
information
£bn
£bn
£bn
£bn
£bn
£bn
£bn
£bn
Loans
 
and
 
advances
 
at
 
amortised
 
cost
31.2
33.2
38.8
40.8
42.3
42.7
40.3
40.8
Total
 
assets
65.2
66.0
70.7
65.8
68.1
73.1
80.9
71.6
Deposits
 
at
 
amortised
 
cost
66.8
67.3
64.9
63.8
65.5
66.6
64.1
60.9
Risk
 
weighted
 
assets
 
31.4
32.9
36.2
37.7
38.2
38.9
39.5
39.8
Performance
 
measures
Return
 
on
 
average
 
allocated
 
equity
12.9%
(17.7%)
(20.7%)
13.6%
11.8%
14.9%
12.8%
3.9%
Return
 
on
 
average
 
allocated
 
tangible
 
equity
14.7%
(20.2%)
(23.5%)
15.9%
14.2%
17.8%
15.4%
4.8%
Average
 
allocated
 
equity
 
(£bn)
4.8
5.1
5.7
6.0
6.4
6.3
6.4
6.4
Average
 
allocated
 
tangible
 
equity
 
(£bn)
4.2
4.5
5.0
5.1
5.3
5.3
5.4
5.3
Cost:
 
income
 
ratio
61%
74%
52%
50%
50%
52%
55%
60%
Loan
 
loss
 
rate
 
(bps)
211
455
846
273
283
180
182
290
Performance
 
measures
 
excluding
litigation
 
and
 
conduct
1
£m
£m
£m
£m
£m
£m
£m
£m
Profit/(loss)
 
before
 
tax
190
(225)
(381)
288
251
340
291
140
Attributable
 
profit/(loss)
174
(220)
(291)
210
187
239
206
70
Return
 
on
 
average
 
allocated
 
tangible
 
equity
16.5%
(19.6%)
(23.5%)
16.3%
14.0%
18.0%
15.4%
5.4%
Cost:
 
income
 
ratio
58%
73%
52%
50%
50%
52%
55%
59%
 
1
 
Refer
 
to
 
pages
 
42
 
to
 
51
 
for
 
further
 
information
 
and
 
calculations
 
of
 
performance
 
measures
 
excluding
 
litigation
 
and
 
conduct.
 
 
Q320EX991P1I0.JPG
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Quarterly
 
Results
 
by
 
Business
 
 
 
 
 
23
 
 
Head
 
Office
Q320
Q220
Q120
Q419
Q319
Q219
Q119
Q418
Income
 
statement
 
information
£m
£m
£m
£m
£m
£m
£m
£m
Net
 
interest
 
income
(48)
(180)
(79)
(99)
(117)
(95)
(111)
(201)
Net
 
fee,
 
commission
 
and
 
other
 
income
(79)
41
14
(11)
62
(41)
16
190
Total
 
income
(127)
(139)
(65)
(110)
(55)
(136)
(95)
(11)
Credit
 
impairment
 
(charges)/releases
(5)
(30)
(25)
(4)
(8)
(3)
(12)
7
Net
 
operating
 
expenses
(132)
(169)
(90)
(114)
(63)
(139)
(107)
(4)
Operating
 
costs
(69)
(106)
(11)
(45)
(59)
(44)
(52)
(69)
UK
 
bank
 
levy
-
-
-
(11)
-
-
-
(13)
Operating
 
expenses
(69)
(106)
(11)
(56)
(59)
(44)
(52)
(82)
GMP
 
charge
-
-
-
-
-
-
-
(140)
Litigation
 
and
 
conduct
(23)
(3)
(5)
(23)
(88)
(1)
(39)
(12)
Total
 
operating
 
expenses
(92)
(109)
(16)
(79)
(147)
(45)
(91)
(234)
Other
 
net
 
income/(expenses)
10
(43)
2
3
6
15
(22)
7
Loss
 
before
 
tax
 
(214)
(321)
(104)
(190)
(204)
(169)
(220)
(231)
Attributable
 
loss
(284)
(255)
(99)
(154)
(184)
(126)
(172)
(234)
Balance
 
sheet
 
information
£bn
£bn
£bn
£bn
£bn
£bn
£bn
£bn
Total
 
assets
19.3
21.7
23.6
21.0
22.9
22.4
21.4
21.5
Risk
 
weighted
 
assets
9.8
9.9
10.0
11.0
13.4
28.1
27.0
26.0
Performance
 
measures
Average
 
allocated
 
equity
 
(£bn)
11.5
10.3
9.6
8.8
9.2
8.1
7.7
6.2
Average
 
allocated
 
tangible
 
equity
 
(£bn)
7.6
6.4
5.6
5.2
5.8
4.8
4.3
2.9
Performance
 
measures
 
excluding
litigation
 
and
 
conduct
1
£m
£m
£m
£m
£m
£m
£m
£m
Loss
 
before
 
tax
(191)
(318)
(99)
(167)
(116)
(168)
(181)
(219)
Attributable
 
loss
(265)
(252)
(103)
(139)
(118)
(124)
(144)
(218)
 
1
 
Refer
 
to
 
pages
 
42
 
to
 
51
 
for
 
further
 
information
 
and
 
calculations
 
of
 
performance
 
measures
 
excluding
 
litigation
 
and
 
conduct.
 
 
Q320EX991P1I0.JPG
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Performance
 
Management
 
 
 
 
 
24
 
 
Margins
 
and
 
balances
Nine
 
months
 
ended
 
30.09.20
Nine
 
months
 
ended
 
30.09.19
Net
 
interest
income
Average
customer
assets
 
Net
 
interest
margin
Net
 
interest
income
Average
customer
assets
 
Net
 
interest
margin
£m
£m
%
£m
£m
%
Barclays
 
UK
3,917
199,048
 
2.63
4,410
189,994
 
3.10
Barclays
 
International
1
2,686
96,799
 
3.71
2,985
99,862
 
4.00
Total
 
Barclays
 
UK
 
and
 
Barclays
 
International
6,603
295,847
 
2.98
7,395
289,856
 
3.41
Other
2
(325)
(332)
Total
 
Barclays
 
Group
6,278
7,063
 
1
 
Barclays
 
International
 
margins
 
include
 
interest
 
earning
 
lending
 
balances
 
within
 
the
 
investment
 
banking
 
business.
2
 
Other
 
includes
 
Head
 
Office
 
and
 
non-lending
 
related
 
investment
 
banking
 
businesses
 
not
 
included
 
in
 
Barclays
 
International
 
margins.
 
The
 
Group’s
 
combined
 
product
 
and
 
equity
 
structural
 
hedge
 
notional
 
as
 
at
 
30
 
September
 
2020
 
was
 
£181bn,
 
with
 
an
 
average
duration
 
of
 
2.5
 
to
 
3
 
years.
 
Group
 
net
 
interest
 
income
 
includes
 
gross
 
structural
 
hedge
 
contributions
 
of
 
£1.3bn
 
(Q319
 
YTD:
 
£1.4bn)
and
 
net
 
structural
 
hedge
 
contributions
 
of
 
£0.9
 
bn
 
(Q319
 
YTD:
 
£0.4bn).
 
Gross
 
structural
 
hedge
 
contributions
 
represent
 
the
 
absolute
level
 
of
 
interest
 
earned
 
from
 
the
 
fixed
 
receipts
 
on
 
the
 
basket
 
of
 
swaps
 
in
 
the
 
structural
 
hedge,
 
while
 
the
 
net
 
structural
 
hedge
contributions
 
represent
 
the
 
net
 
interest
 
earned
 
on
 
the
 
difference
 
between
 
the
 
structural
 
hedge
 
rate
 
and
 
prevailing
 
floating
 
rates.
 
Quarterly
 
analysis
 
for
 
Barclays
 
UK
 
and
 
Barclays
 
International
Net
 
interest
income
Average
customer
assets
Net
 
interest
margin
Three
 
months
 
ended
 
30.09.20
£m
£m
%
Barclays
 
UK
 
1,280
 
203,089
 
2.51
Barclays
 
International
1
 
838
 
88,032
 
3.79
Total
 
Barclays
 
UK
 
and
 
Barclays
 
International
 
2,118
 
291,121
 
2.89
Three
 
months
 
ended
 
30.06.20
Barclays
 
UK
1,225
199,039
2.48
Barclays
 
International
1
868
101,706
3.43
Total
 
Barclays
 
UK
 
and
 
Barclays
 
International
2,093
300,745
2.80
Three
 
months
 
ended
 
31.03.20
Barclays
 
UK
1,412
195,204
2.91
Barclays
 
International
1
980
100,171
3.93
Total
 
Barclays
 
UK
 
and
 
Barclays
 
International
2,392
295,375
3.26
Three
 
months
 
ended
 
31.12.19
Barclays
 
UK
1,478
193,610
3.03
Barclays
 
International
1
1,036
95,819
4.29
Total
 
Barclays
 
UK
 
and
 
Barclays
 
International
2,514
289,429
3.45
Three
 
months
 
ended
 
30.09.19
Barclays
 
UK
1,503
192,262
3.10
Barclays
 
International
1
1,038
100,589
4.10
Total
 
Barclays
 
UK
 
and
 
Barclays
 
International
2,541
292,851
3.44
 
1
 
Barclays
 
International
 
margins
 
include
 
interest
 
earning
 
lending
 
balances
 
within
 
the
 
investment
 
banking
 
business.
 
 
Q320EX991P1I0.JPG
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Credit
 
Risk
 
 
 
 
 
25
 
 
Loans
 
and
 
advances
 
at
 
amortised
 
cost
 
by
 
stage
 
 
The
 
table
 
below
 
presents
 
an
 
analysis
 
of
 
loans
 
and
 
advances
 
at
 
amortised
 
cost
 
by
 
gross
 
exposure,
 
impairment
 
allowance,
impairment
 
charge
 
and
 
coverage
 
ratio
 
by
 
stage
 
allocation
 
and
 
business
 
segment
 
as
 
at
 
30
 
September
 
2020.
 
Also
 
included
 
are
 
off-
balance
 
sheet
 
loan
 
commitments
 
and
 
financial
 
guarantee
 
contracts
 
by
 
gross
 
exposure,
 
impairment
 
allowance
 
and
 
coverage
 
ratio
 
by
stage
 
allocation
 
as
 
at
 
30
 
September
 
2020.
 
Impairment
 
allowance
 
under
 
IFRS
 
9
 
considers
 
both
 
the
 
drawn
 
and
 
the
 
undrawn
 
counterparty
 
exposure.
 
For
 
retail
 
portfolios,
 
the
total
 
impairment
 
allowance
 
is
 
allocated
 
to
 
the
 
drawn
 
exposure
 
to
 
the
 
extent
 
that
 
the
 
allowance
 
does
 
not
 
exceed
 
the
 
exposure,
 
as
ECL
 
is
 
not
 
reported
 
separately.
 
Any
 
excess
 
is
 
reported
 
on
 
the
 
liability
 
side
 
of
 
the
 
balance
 
sheet
 
as
 
a
 
provision.
 
For
 
wholesale
portfolios,
 
the
 
impairment
 
allowance
 
on
 
the
 
undrawn
 
exposure
 
is
 
reported
 
on
 
the
 
liability
 
side
 
of
 
the
 
balance
 
sheet
 
as
 
a
 
provision.
 
Gross
 
exposure
Impairment
 
allowance
Net
exposure
Stage
 
1
Stage
 
2
 
Stage
 
3
Total
Stage
 
1
Stage
 
2
 
Stage
 
3
Total
As
 
at
 
30.09.20
£m
£m
£m
£m
£m
£m
£m
£m
£m
Barclays
 
UK
149,393
25,846
2,704
177,943
329
1,563
1,150
3,042
174,901
Barclays
 
International
16,866
5,366
1,691
23,923
412
1,296
1,275
2,983
20,940
Head
 
Office
4,519
668
871
6,058
8
53
352
413
5,645
Total
 
Barclays
 
Group
 
retail
170,778
31,880
5,266
207,924
749
2,912
2,777
6,438
201,486
Barclays
 
UK
30,540
3,887
1,138
35,565
58
98
143
299
35,266
Barclays
 
International
74,789
31,775
2,422
108,986
129
793
1,002
1,924
107,062
Head
 
Office
595
 
-
 
34
629
 
-
 
 
-
 
33
33
596
Total
 
Barclays
 
Group
wholesale
1
105,924
35,662
3,594
145,180
187
891
1,178
2,256
142,924
Total
 
loans
 
and
 
advances
 
at
amortised
 
cost
276,702
67,542
8,860
353,104
936
3,803
3,955
8,694
344,410
Off-balance
 
sheet
 
loan
commitments
 
and
 
financial
guarantee
 
contracts
2
282,551
65,407
1,500
349,458
138
751
46
935
348,523
Total
3
559,253
132,949
10,360
702,562
1,074
4,554
4,001
9,629
692,933
As
 
at
 
30.09.20
Period
 
ended
 
30.09.20
Coverage
 
ratio
 
Loan
 
impairment
 
charge
 
and
 
loan
 
loss
 
rate
4
Stage
 
1
Stage
 
2
 
Stage
 
3
Total
Loan
 
impairment
charge
Loan
 
loss
 
rate
%
%
%
%
£m
bps
Barclays
 
UK
0.2
6.0
42.5
1.7
966
73
Barclays
 
International
2.4
24.2
75.4
12.5
1,423
795
Head
 
Office
0.2
7.9
40.4
6.8
60
132
Total
 
Barclays
 
Group
 
retail
0.4
9.1
52.7
3.1
2,449
157
Barclays
 
UK
0.2
2.5
12.6
0.8
174
65
Barclays
 
International
0.2
2.5
41.4
1.8
954
117
Head
 
Office
-
-
97.1
5.2
 
-
 
 
-
 
Total
 
Barclays
 
Group
wholesale
1
0.2
2.5
32.8
1.6
1,128
104
Total
 
loans
 
and
 
advances
 
at
amortised
 
cost
0.3
5.6
44.6
2.5
3,577
135
Off-balance
 
sheet
 
loan
commitments
 
and
 
financial
guarantee
 
contracts
2
-
1.1
3.1
0.3
627
Other
 
financial
 
assets
 
subject
to
 
impairment
3
142
Total
4
0.2
3.4
38.6
1.4
4,346
 
1
 
Includes
 
Wealth
 
and
 
Private
 
Banking
 
exposures
 
measured
 
on
 
an
 
individual
 
basis,
 
and
 
excludes
 
Business
 
Banking
 
exposures
 
that
 
are
 
managed
 
on
 
a
 
collective
 
basis.
The
 
net
 
impact
 
is
 
a
 
difference
 
in
 
total
 
exposure
 
of
 
£701m
 
of
 
balances
 
reported
 
as
 
wholesale
 
loans
 
on
 
page
 
27
 
in
 
the
 
Loans
 
and
 
advances
 
at
 
amortised
 
cost
 
by
product
 
disclosure.
 
2
 
Excludes
 
loan
 
commitments
 
and
 
financial
 
guarantees
 
of
 
£8.6bn
 
carried
 
at
 
fair
 
value.
 
3
 
Other
 
financial
 
assets
 
subject
 
to
 
impairment
 
not
 
included
 
in
 
the
 
table
 
above
 
include
 
cash
 
collateral
 
and
 
settlement
 
balances,
 
financial
 
assets
 
at
 
fair
 
value
 
through
other
 
comprehensive
 
income
 
and
 
other
 
assets.
 
These
 
have
 
a
 
total
 
gross
 
exposure
 
of
 
£197.8bn
 
and
 
impairment
 
allowance
 
of
 
£161m.
 
This
 
comprises
 
£13m
 
ECL
 
on
£192.
 
1bn
 
stage
 
1
 
assets,
 
£38m
 
on
 
£5.6bn
 
stage
 
2
 
fair
 
value
 
through
 
other
 
comprehensive
 
income
 
assets,
 
other
 
assets,
 
cash
 
collateral
 
and
 
settlement
 
balances
 
and
£110m
 
on
 
£112m
 
stage
 
3
 
other
 
assets.
 
4
 
Q320
 
YTD
 
loan
 
impairment
 
charge
 
represents
 
nine
 
months
 
of
 
impairment
 
charge,
 
annualised
 
to
 
calculate
 
the
 
loan
 
loss
 
rate.
 
The
 
loan
 
loss
 
rate
 
for
 
Q320
 
YTD
 
is
164bps
 
after
 
applying
 
the
 
total
 
impairment
 
charge
 
of
 
£4,346m.
 
 
 
Q320EX991P1I0.JPG
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Credit
 
Risk
 
 
 
 
 
26
 
 
Gross
 
exposure
Impairment
 
allowance
Net
exposure
Stage
 
1
Stage
 
2
 
Stage
 
3
Total
Stage
 
1
Stage
 
2
 
Stage
 
3
Total
As
 
at
 
31.12.19
£m
£m
£m
£m
£m
£m
£m
£m
£m
Barclays
 
UK
143,097
23,198
2,446
168,741
198
1,277
974
2,449
166,292
Barclays
 
International
27,886
4,026
1,875
33,787
352
774
1,359
2,485
31,302
Head
 
Office
4,803
500
826
6,129
5
36
305
346
5,783
Total
 
Barclays
 
Group
 
retail
175,786
27,724
5,147
208,657
555
2,087
2,638
5,280
203,377
Barclays
 
UK
27,891
2,397
1,124
31,412
16
38
108
162
31,250
Barclays
 
International
92,615
8,113
1,615
102,343
136
248
447
831
101,512
Head
 
Office
2,974
-
37
3,011
-
-
35
35
2,976
Total
 
Barclays
 
Group
wholesale
1
123,480
10,510
2,776
136,766
152
286
590
1,028
135,738
Total
 
loans
 
and
 
advances
 
at
amortised
 
cost
299,266
38,234
7,923
345,423
707
2,373
3,228
6,308
339,115
Off-balance
 
sheet
 
loan
commitments
 
and
 
financial
guarantee
 
contracts
2
321,140
19,185
935
341,260
97
170
55
322
340,938
Total
3
620,406
57,419
8,858
686,683
804
2,543
3,283
6,630
680,053
As
 
at
 
31.12.19
Year
 
ended
 
31.12.19
Coverage
 
ratio
 
Loan
 
impairment
 
charge
 
and
 
loan
 
loss
 
rate
4
Stage
 
1
Stage
 
2
 
Stage
 
3
Total
Loan
 
impairment
charge
Loan
 
loss
 
rate
%
%
%
%
£m
bps
Barclays
 
UK
0.1
5.5
39.8
1.5
661
39
Barclays
 
International
1.3
19.2
72.5
7.4
999
296
Head
 
Office
0.1
7.2
36.9
5.6
27
44
Total
 
Barclays
 
Group
 
retail
0.3
7.5
51.3
2.5
1,687
81
Barclays
 
UK
0.1
1.6
9.6
0.5
33
11
Barclays
 
International
0.1
3.1
27.7
0.8
113
11
Head
 
Office
-
-
94.6
1.2
-
-
Total
 
Barclays
 
Group
wholesale
1
0.1
2.7
21.3
0.8
146
11
Total
 
loans
 
and
 
advances
 
at
amortised
 
cost
0.2
6.2
40.7
1.8
1,833
53
Off-balance
 
sheet
 
loan
commitments
 
and
 
financial
guarantee
 
contracts
2
-
0.9
5.9
0.1
71
Other
 
financial
 
assets
 
subject
to
 
impairment
3
8
Total
4
0.1
4.4
37.1
1.0
1,912
 
1
 
Includes
 
Wealth
 
and
 
Private
 
Banking
 
exposures
 
measured
 
on
 
an
 
individual
 
basis,
 
and
 
excludes
 
Business
 
Banking
 
exposures
 
that
 
are
 
managed
 
on
 
a
 
collective
 
basis.
The
 
net
 
impact
 
is
 
a
 
difference
 
in
 
total
 
exposure
 
of
 
£6,434m
 
of
 
balances
 
reported
 
as
 
wholesale
 
loans
 
on
 
page
 
27
 
in
 
the
 
Loans
 
and
 
advances
 
at
 
amortised
 
cost
 
by
product
 
disclosure.
 
2
 
Excludes
 
loan
 
commitments
 
and
 
financial
 
guarantees
 
of
 
£17.7bn
 
carried
 
at
 
fair
 
value.
 
3
 
Other
 
financial
 
assets
 
subject
 
to
 
impairment
 
not
 
included
 
in
 
the
 
table
 
above
 
include
 
cash
 
collateral
 
and
 
settlement
 
balances,
 
financial
 
assets
 
at
 
fair
 
value
 
through
other
 
comprehensive
 
income
 
and
 
other
 
assets.
 
These
 
have
 
a
 
total
 
gross
 
exposure
 
of
 
£149.3bn
 
and
 
impairment
 
allowance
 
of
 
£24m.
 
This
 
comprises
 
£12m
 
ECL
 
on
£148.5bn
 
stage
 
1
 
assets,
 
£2m
 
on
 
£0.8bn
 
stage
 
2
 
fair
 
value
 
through
 
other
 
comprehensive
 
income
 
assets,
 
cash
 
collateral
 
and
 
settlement
 
balances
 
and
 
£10m
 
on
 
£10m
stage
 
3
 
other
 
assets.
 
4
 
The
 
loan
 
loss
 
rate
 
is
 
55bps
 
after
 
applying
 
the
 
total
 
impairment
 
charge
 
of
 
£1,912m.
 
 
 
 
Q320EX991P1I0.JPG
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Credit
 
Risk
 
 
 
 
 
27
 
 
Loans
 
and
 
advances
 
at
 
amortised
 
cost
 
by
 
product
 
 
The
 
table
 
below
 
presents
 
a
 
breakdown
 
of
 
loans
 
and
 
advances
 
at
 
amortised
 
cost
 
and
 
the
 
impairment
 
allowance
 
with
 
stage
allocation
 
by
 
asset
 
classification.
 
Stage
 
2
As
 
at
 
30.09.20
Stage
 
1
Not
 
past
due
<=30
 
days
past
 
due
>30
 
days
past
 
due
Total
Stage
 
3
Total
Gross
 
exposure
£m
£m
£m
£m
£m
£m
£m
Home
 
loans
135,995
17,262
1,843
969
20,074
2,234
158,303
Credit
 
cards,
 
unsecured
 
loans
 
and
 
other
 
retail
 
lending
33,815
11,005
483
273
11,761
3,344
48,920
Wholesale
 
loans
 
106,892
31,887
3,275
545
35,707
3,282
145,881
Total
276,702
60,154
5,601
1,787
67,542
8,860
353,104
Impairment
 
allowance
Home
 
loans
20
62
11
12
85
392
497
Credit
 
cards,
 
unsecured
 
loans
 
and
 
other
 
retail
 
lending
754
2,461
164
173
2,798
2,423
5,975
Wholesale
 
loans
 
162
821
92
7
920
1,140
2,222
Total
936
3,344
267
192
3,803
3,955
8,694
Net
 
exposure
Home
 
loans
135,975
17,200
1,832
957
19,989
1,842
157,806
Credit
 
cards,
 
unsecured
 
loans
 
and
 
other
 
retail
 
lending
33,061
8,544
319
100
8,963
921
42,945
Wholesale
 
loans
 
106,730
31,066
3,183
538
34,787
2,142
143,659
Total
275,766
56,810
5,334
1,595
63,739
4,905
344,410
Coverage
 
ratio
%
%
%
%
%
%
%
Home
 
loans
-
0.4
0.6
1.2
0.4
17.5
0.3
Credit
 
cards,
 
unsecured
 
loans
 
and
 
other
 
retail
 
lending
2.2
22.4
34.0
63.4
23.8
72.5
12.2
Wholesale
 
loans
 
0.2
2.6
2.8
1.3
2.6
34.7
1.5
Total
0.3
5.6
4.8
10.7
5.6
44.6
2.5
As
 
at
 
31.12.19
Gross
 
exposure
£m
£m
£m
£m
£m
£m
£m
Home
 
loans
135,713
14,733
1,585
725
17,043
2,155
154,911
Credit
 
cards,
 
unsecured
 
loans
 
and
 
other
 
retail
 
lending
46,012
9,759
496
504
10,759
3,409
60,180
Wholesale
 
loans
 
117,541
9,374
374
684
10,432
2,359
130,332
Total
299,266
33,866
2,455
1,913
38,234
7,923
345,423
Impairment
 
allowance
Home
 
loans
22
37
14
13
64
346
432
Credit
 
cards,
 
unsecured
 
loans
 
and
 
other
 
retail
 
lending
542
1,597
159
251
2,007
2,335
4,884
Wholesale
 
loans
 
143
284
9
9
302
547
992
Total
707
1,918
182
273
2,373
3,228
6,308
Net
 
exposure
Home
 
loans
135,691
14,696
1,571
712
16,979
1,809
154,479
Credit
 
cards,
 
unsecured
 
loans
 
and
 
other
 
retail
 
lending
45,470
8,162
337
253
8,752
1,074
55,296
Wholesale
 
loans
 
117,398
9,090
365
675
10,130
1,812
129,340
Total
298,559
31,948
2,273
1,640
35,861
4,695
339,115
Coverage
 
ratio
%
%
%
%
%
%
%
Home
 
loans
-
0.3
0.9
1.8
0.4
16.1
0.3
Credit
 
cards,
 
unsecured
 
loans
 
and
 
other
 
retail
 
lending
1.2
16.4
32.1
49.8
18.7
68.5
8.1
Wholesale
 
loans
 
0.1
3.0
2.4
1.3
2.9
23.2
0.8
Total
0.2
5.7
7.4
14.3
6.2
40.7
1.8
 
The
 
number
 
of
 
customers
 
who
 
remain
 
on
 
payment
 
holidays
 
granted
 
in
 
response
 
to
 
the
 
pandemic
 
continues
 
to
 
fall.
 
Across
 
the
 
Group’s
material
 
portfolios
 
as
 
at
 
30
 
September
 
2020,
 
c.£4.4bn
 
of
 
UK
 
mortgage,
 
c.£0.1bn
 
of
 
UK
 
credit
 
card
 
and
 
c.£0.1bn
 
of
 
US
 
credit
 
card
lending
 
remained
 
on
 
payment
 
holidays.
 
 
 
 
Q320EX991P1I0.JPG
Credit
 
Risk
 
 
 
 
 
28
 
 
Measurement
 
uncertainty
 
Scenarios
 
used
 
to
 
calculate
 
the
 
Group’s
 
ECL
 
charge
 
were
 
reviewed
 
and
 
updated
 
in
 
September
 
2020
 
with
 
the
 
Baseline
 
scenario
reflecting
 
the
 
latest
 
consensus
 
economic
 
forecasts.
 
Changes
 
in
 
the
 
consensus
 
Baseline
 
forecasts
 
since
 
June
 
2020
 
include
 
a
 
more
prolonged
 
period
 
of
 
high
 
unemployment
 
in
 
the
 
UK
 
but
 
faster
 
reduction
 
in
 
US
 
unemployment
 
levels
 
in
 
the
 
short
 
term.
 
Economic
growth
 
in
 
the
 
UK
 
and
 
the
 
US
 
begins
 
to
 
recover
 
in
 
2021
 
in
 
the
 
downside
 
scenarios.
 
In
 
the
 
upside
 
scenarios,
 
the
 
strong
 
rebound
 
in
 
UK
and
 
US
 
GDP
 
continues
 
into
 
the
 
end
 
of
 
2020,
 
following
 
the
 
bounce-back
 
in
 
growth
 
in
 
Q320
 
and,
 
subsequently,
 
the
 
projections
 
stay
above
 
the
 
year
 
on
 
year
 
growth
 
rates
 
seen
 
in
 
the
 
Baseline
 
for
 
a
 
prol
 
onged
 
period
 
of
 
time
 
before
 
finally
 
reverting
 
to
 
the
 
long
 
term
run
 
rate.
 
This
 
reflects
 
the
 
assumption
 
of
 
a
 
potential
 
vaccine
 
being
 
available
 
in
 
the
 
first
 
half
 
of
 
2021
 
and
 
pent
 
up
 
savings
 
being
deployed
 
into
 
a
 
more
 
certain
 
consumer
 
environment
 
to
 
drive
 
significant
 
growth.
 
Scenario
 
weights
 
have
 
been
 
updated
 
to
 
reflect
 
the
latest
 
economics.
 
As
 
a
 
result
 
of
 
government
 
and
 
Barclays
 
support
 
measures
 
put
 
in
 
place
 
to
 
support
 
customers
 
and
 
clients,
 
significant
 
credit
deterioration
 
has
 
not
 
yet
 
occurred.
 
This
 
support
 
is
 
causing
 
a
 
timing
 
difference
 
between
 
economic
 
drivers
 
such
 
as
 
GDP
 
and
unemployment
 
rates,
 
and
 
the
 
resultant
 
impairment
 
defaults.
 
This
 
is
 
expected
 
to
 
delay
 
the
 
effects
 
of
 
distress
 
and
 
therefore
increases
 
uncertainty
 
on
 
the
 
timing
 
of
 
the
 
stress
 
and
 
the
 
rea
 
lisation
 
of
 
defaults.
 
The
 
Q320
 
review
 
did
 
not
 
identify
 
any
 
new
information
 
to
 
substantiate
 
a
 
change
 
in
 
the
 
level
 
of
 
expected
 
credit
 
losses
 
on
 
non-defaulted
 
positions
 
from
 
that
 
recognised
 
at
H120.
 
This
 
has
 
led
 
to
 
the
 
maintenance
 
of
 
coverage
 
levels
 
and
 
stagi
 
ng
 
mix
 
whilst
 
recognising
 
the
 
associated
 
ECL
 
charge
 
on
 
defaults
that
 
have
 
arisen
 
in
 
the
 
quarter.
 
The
 
economic
 
environment
 
remains
 
uncertain
 
and
 
future
 
impairment
 
charges
 
may
 
be
 
subject
 
to
 
further
 
volatility
 
(including
 
from
changes
 
to
 
macroeconomic
 
variable
 
forecasts)
 
depending
 
on
 
the
 
longevity
 
of
 
the
 
COVID
 
-19
 
pandemic
 
and
 
related
 
containment
measures,
 
as
 
well
 
as
 
the
 
longer
 
term
 
effectiveness
 
of
 
central
 
bank,
 
government
 
and
 
other
 
support
 
measures.
 
The
 
tables
 
below
 
show
 
the
 
key
 
consensus
 
macroeconomic
 
varia
 
bles
 
used
 
in
 
the
 
Q320
 
Baseline
 
scenario
 
and
 
the
 
probability
 
weights
applied
 
to
 
each
 
scenario.
 
 
Q320EX991P1I0.JPG
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Credit
 
Risk
 
 
 
 
 
29
 
 
Baseline
 
average
 
macroeconomic
 
variables
 
used
 
in
 
the
 
calculation
 
of
 
ECL
2020
2021
2022
Expected
 
Worst
Point
 
As
 
at
 
30.09.20
 
%
 
%
%
 
%
UK
 
GDP
1
(10.3)
6.2
3.3
(59.8)
UK
 
unemployment
2
5.5
6.9
6.2
8.1
UK
 
HPI
3
0.4
1.5
1.4
(0.9)
UK
 
bank
 
rate
0.2
(0.1)
(0.1)
(0.1)
US
 
GDP
1
(4.4)
3.8
3.0
(32.9)
US
 
unemployment
4
8.4
6.9
5.6
13.0
US
 
HPI
5
1.8
1.8
2.9
0.7
US
 
federal
 
funds
 
rate
0.5
0.3
0.3
0.1
As
 
at
 
30.06.20
UK
 
GDP
1
(8.7)
6.1
2.9
(51.4)
UK
 
unemployment
2
6.6
6.5
4.4
8.0
UK
 
HPI
3
0.6
2.0
-
(1.5)
UK
 
bank
 
rate
0.2
0.1
0.1
0.1
US
 
GDP
1
(4.2)
4.4
(0.3)
(30.4)
US
 
unemployment
4
9.3
7.6
5.5
13.4
US
 
HPI
5
1.1
1.8
(0.8)
(1.9)
US
 
federal
 
funds
 
rate
0.5
0.3
0.3
0.3
 
1
 
Average
 
Real
 
GDP
 
seasonally
 
adjusted
 
change
 
in
 
year;
 
expected
 
worst
 
point
 
is
 
the
 
minimum
 
seasonally
 
adjusted
 
quarterly
 
annualised
 
rate.
2
 
Average
 
UK
 
unemployment
 
rate
 
16-year+.
3
 
Change
 
in
 
average
 
yearly
 
UK
 
HPI
 
=
 
Halifax
 
All
 
Houses,
 
All
 
Buyers
 
index,
 
relative
 
to
 
prior
 
year
 
end;
 
worst
 
point
 
is
 
based
 
on
 
cumulative
 
drawdown
 
in
 
year
 
relative
 
to
prior
 
year
 
end.
4
 
Average
 
US
 
civilian
 
unemployment
 
rate
 
16-year+.
5
 
Change
 
in
 
average
 
yearly
 
US
 
HPI
 
=
 
FHFA
 
house
 
price
 
index,
 
relative
 
to
 
prior
 
year
 
end;
 
worst
 
point
 
is
 
based
 
on
 
cumulative
 
drawdown
 
in
 
year
 
relative
 
to
 
prior
 
year
 
end.
 
 
 
Scenario
 
probability
 
weighting
Upside
 
2
Upside
 
1
Baseline
Downside
 
1
Downside
 
2
 
%
 
%
 
%
 
%
 
%
As
 
at
 
30.09.20
Scenario
 
probability
 
weighting
20.1
21.6
23.5
19.2
15.6
As
 
at
 
30.06.20
Scenario
 
probability
 
weighting
20.3
22.4
25.4
17.5
14.4
As
 
at
 
31.12.19
Scenario
 
probability
 
weighting
10.1
23.1
40.8
22.7
3.3
 
 
Q320EX991P1I0.JPG
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Treasury
 
and
 
Capital
 
Risk
 
 
 
 
 
30
 
 
Composition
 
of
 
the
 
Group
 
liquidity
 
pool
As
 
at
 
30.09.20
As
 
at
 
31.12.19
Liquidity
 
pool
Liquidity
 
pool
 
of
 
which
 
CRR
 
LCR
 
eligible
3
Liquidity
 
pool
Cash
Level
 
1
Level
 
2A
£bn
£bn
£bn
£bn
£bn
Cash
 
and
 
deposits
 
with
 
central
 
banks
1
248
243
-
-
153
Government
 
bonds
2
AAA
 
to
 
AA-
32
-
31
1
31
A+
 
to
 
A-
18
-
11
7
2
BBB+
 
to
 
BBB-
2
-
2
-
3
Total
 
government
 
bonds
52
-
44
8
36
Other
Government
 
guaranteed
 
issuers,
 
PSEs
 
and
 
GSEs
 
10
-
8
1
9
International
 
organisations
 
and
 
MDBs
8
-
8
-
7
Covered
 
bonds
 
8
-
6
2
6
Other
1
-
-
-
-
Total
 
other
27
-
22
3
22
Total
 
as
 
at
 
30
 
September
 
2020
327
243
66
11
211
Total
 
as
 
at
 
31
 
December
 
2019
211
150
50
3
 
1
 
Includes
 
cash
 
held
 
at
 
central
 
banks
 
and
 
surplus
 
cash
 
at
 
central
 
banks
 
related
 
to
 
payment
 
schemes.
 
Over
 
99%
 
(December
 
2019:
 
over
 
98%)
 
was
 
placed
 
with
 
the
 
Bank
of
 
England,
 
US
 
Federal
 
Reserve,
 
European
 
Central
 
Bank,
 
Bank
 
of
 
Japan
 
and
 
Swiss
 
National
 
Bank.
2
 
Of
 
which
 
over
 
77%
 
(December
 
2019:
 
over
 
67%)
 
comprised
 
UK,
 
US,
 
French,
 
German,
 
Japanese,
 
Swiss
 
and
 
Dutch
 
securities.
3
 
The
 
LCR
 
eligible
 
liquidity
 
pool
 
is
 
adjusted
 
for
 
trapped
 
liquidity
 
and
 
other
 
regulatory
 
deductions.
 
It
 
also
 
in
 
corporates
 
other
 
CRR
 
(as
 
amended
 
by
 
CRR
 
II)
 
qualifying
assets
 
that
 
are
 
not
 
eligible
 
under
 
Barclays’
 
internal
 
risk
 
appetite.
 
The
 
Group
 
liquidity
 
pool
 
increased
 
to
 
£327bn
 
as
 
at
 
30
 
September
 
2020
 
(December
 
2019:
 
£211bn)
 
driven
 
by
 
a
 
19%
 
growth
 
in
customer
 
deposit
 
and
 
actions
 
to
 
maintain
 
a
 
prudent
 
funding
 
and
 
liquidity
 
position
 
in
 
the
 
current
 
environment
 
.
 
The
 
liquidity
 
pool
 
is
held
 
unencumbered
 
and
 
is
 
not
 
used
 
to
 
support
 
payment
 
or
 
clearing
 
requirements.
 
Such
 
requirements
 
are
 
treated
 
as
 
part
 
of
 
our
regular
 
business
 
funding.
 
The
 
liquidity
 
pool
 
is
 
intended
 
to
 
offset
 
stress
 
outflows,
 
and
 
comprises
 
the
 
above
 
cash
 
and
 
unencumbered
assets.
 
The
 
composition
 
of
 
the
 
pool
 
is
 
subject
 
to
 
limits
 
set
 
by
 
the
 
Board
 
and
 
the
 
independent
 
liquidity
 
risk,
 
credit
 
risk
 
and
 
market
 
risk
functions.
 
In
 
addition,
 
the
 
investment
 
of
 
the
 
liquidity
 
pool
 
is
 
monitored
 
for
 
concentration
 
by
 
issuer,
 
currency
 
and
 
asset
 
type.
 
Given
returns
 
generated
 
by
 
these
 
highly
 
liquid
 
assets,
 
the
 
risk
 
and
 
reward
 
profile
 
is
 
continuously
 
managed.
 
 
 
Q320EX991P31I0.JPG
Treasury
 
and
 
Capital
 
Risk
 
 
 
 
 
31
 
 
Capital
The
 
Group’s
 
Overall
 
Capital
 
Requirement
 
for
 
CET1
 
is
 
11.3%
 
comprising
 
a
 
4.5%
 
Pillar
 
1
 
minimum,
 
a
 
2.5%
 
Capital
 
Conservation
 
Buffer
(CCB),
 
a
 
1.5%
 
Global
 
Systemically
 
Important
 
Institution
 
(G-SII)
 
buffer,
 
a
 
2.8%
 
Pillar
 
2A
 
requirement
 
and
 
a
 
0.0%
 
Countercyclical
Capital
 
Buffer
 
(CCyB).
 
The
 
Group’s
 
CCyB
 
is
 
based
 
on
 
the
 
buffer
 
rate
 
applicable
 
for
 
each
 
jurisdiction
 
in
 
which
 
the
 
Group
 
has
 
exposures.
 
On
 
11
 
March
 
2020,
the
 
Financial
 
Poli
 
cy
 
Committee
 
set
 
the
 
CCyB
 
rate
 
for
 
UK
 
exposures
 
at
 
0%
 
with
 
immediate
 
effect.
 
The
 
buffer
 
rates
 
set
 
by
 
other
national
 
authorities
 
for
 
non-UK
 
exposures
 
are
 
not
 
currently
 
material.
 
Overall,
 
this
 
results
 
in
 
a
 
0.0%
 
CCyB
 
for
 
the
 
Group.
 
 
The
 
Group’s
 
Pillar
 
2A
 
requirement
 
as
 
per
 
the
 
PRA’s
 
Individual
 
Capital
 
Requirement
 
is
 
5.0%
 
of
 
which
 
at
 
least
 
56.25%
 
needs
 
to
 
be
 
met
with
 
CET1
 
capital,
 
equating
 
to
 
approximately
 
2.8%
 
of
 
RWAs.
 
The
 
Pillar
 
2A
 
requirement
 
is
 
subject
 
to
 
at
 
least
 
annual
 
review
 
and
 
has
been
 
set
 
as
 
a
 
nominal
 
capital
 
amount.
 
This
 
is
 
based
 
on
 
a
 
point
 
in
 
time
 
assessment
 
and
 
the
 
requirement
 
(when
 
expressed
 
as
 
a
proportion
 
of
 
RWAs)
 
will
 
change
 
depending
 
on
 
the
 
total
 
RWAs
 
at
 
each
 
reporting
 
period.
 
 
On
 
27
 
June
 
2019,
 
CRR
 
II
 
came
 
into
 
force
 
amending
 
CRR.
 
As
 
an
 
amending
 
regulation,
 
the
 
existing
 
provisions
 
of
 
CRR
 
apply
 
unless
 
they
are
 
amended
 
by
 
CRR
 
II.
 
Certain
 
aspects
 
of
 
CRR
 
II
 
are
 
dependent
 
on
 
final
 
technical
 
standards
 
to
 
be
 
issued
 
by
 
the
 
European
 
Banking
Authority
 
(EBA)
 
and
 
adopted
 
by
 
the
 
European
 
Commission
 
as
 
well
 
as
 
UK
 
implementation
 
of
 
the
 
rules.
 
 
On
 
27
 
June
 
2020,
 
CRR
 
was
 
further
 
amended
 
to
 
accelerate
 
specific
 
CRR
 
II
 
measures
 
and
 
implement
 
a
 
new
 
IFRS
 
9
 
transitional
 
relief
calculation.
 
Previously
 
due
 
to
 
be
 
implemented
 
in
 
June
 
2021,
 
the
 
accelerated
 
measures
 
primarily
 
relate
 
to
 
the
 
CRR
 
leverage
calculation
 
to
 
include
 
additional
 
settlement
 
netting
 
and
 
limited
 
changes
 
to
 
the
 
calculation
 
of
 
RWAs.
 
For
 
UK
 
leverage
 
calculations,
the
 
PRA
 
early
 
adopted
 
the
 
CRR
 
II
 
settlement
 
netting
 
measure
 
in
 
April
 
2020.
 
 
The
 
IFRS
 
9
 
transitional
 
arrangements
 
have
 
been
 
extended
 
by
 
two
 
years
 
and
 
a
 
new
 
modified
 
calculation
 
has
 
been
 
introduced.
 
100%
relief
 
will
 
be
 
applied
 
to
 
increases
 
in
 
stage
 
1
 
and
 
stage
 
2
 
provisions
 
from
 
1
 
January
 
2020
 
throughout
 
2020
 
and
 
2021;
 
75%
 
in
 
2022;
50%
 
in
 
2023;
 
25%
 
in
 
2024
 
with
 
no
 
relief
 
applied
 
from
 
2025.
 
The
 
phasing
 
out
 
of
 
transitional
 
relief
 
on
 
the
 
“day
 
1”
 
impact
 
of
 
IFRS
 
9
 
as
well
 
as
 
increases
 
in
 
stage
 
1
 
and
 
stage
 
2
 
provisions
 
between
 
1
 
January
 
2018
 
and
 
31
 
December
 
2019
 
under
 
the
 
modified
 
calculation
remain
 
unchanged
 
and
 
continue
 
to
 
be
 
subject
 
to
 
70%
 
transitional
 
relief
 
throughout
 
2020;
 
50%
 
for
 
2021;
 
25%
 
for
 
2022
 
and
 
with
 
no
relief
 
applied
 
from
 
2023.
 
On
 
22
 
April
 
2020,
 
the
 
regulatory
 
technical
 
standards
 
on
 
prudent
 
valuation
 
were
 
amended
 
to
 
include
 
an
 
increase
 
to
 
diversification
factors
 
applied
 
to
 
certain
 
additional
 
valuation
 
adjustments.
 
The
 
amendments
 
will
 
also
 
impact
 
own
 
funds
 
and
 
will
 
apply
 
until
 
31
December
 
2020
 
inclusive.
 
 
The
 
disclosures
 
in
 
the
 
following
 
section
 
reflect
 
Barclays’
 
interpretation
 
of
 
the
 
current
 
rules
 
and
 
guidance.
 
 
Q320EX991P31I0.JPG
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Treasury
 
and
 
Capital
 
Risk
 
 
 
 
 
32
 
 
Capital
 
ratios
1,2,3
As
 
at
 
As
 
at
 
As
 
at
 
30.09.20
30.06.20
31.12.19
CET1
14.6%
14.2%
13.8%
Tier
 
1
 
(T1)
18.7%
17.8%
17.7%
Total
 
regulatory
 
capital
22.5%
21.7%
21.6%
 
 
Capital
 
resources
£m
£m
£m
Total
 
equity
 
excluding
 
non-controlling
 
interests
 
per
 
the
 
balance
 
sheet
67,816
68,304
64,429
Less:
 
other
 
equity
 
instruments
 
(recognised
 
as
 
AT1
 
capital)
(12,012)
(10,871)
(10,871)
Adjustment
 
to
 
retained
 
earnings
 
for
 
foreseeable
 
dividends
(65)
(44)
(1,096)
Other
 
regulatory
 
adjustments
 
and
 
deductions
Additional
 
value
 
adjustments
 
(PVA)
(1,241)
(1,517)
(1,746)
Goodwill
 
and
 
intangible
 
assets
(8,154)
(8,154)
(8,109)
Deferred
 
tax
 
assets
 
that
 
rely
 
on
 
future
 
profitability
 
excluding
 
temporary
 
differences
(422)
(444)
(479)
Fair
 
value
 
reserves
 
related
 
to
 
gains
 
or
 
losses
 
on
 
cash
 
flow
 
hedges
(1,745)
(1,914)
(1,002)
Gains
 
or
 
losses
 
on
 
liabilities
 
at
 
fair
 
value
 
resulting
 
from
 
own
 
credit
717
(233)
260
Defined
 
benefit
 
pension
 
fund
 
assets
(1,785)
(2,094)
(1,594)
Direct
 
and
 
indirect
 
holdings
 
by
 
an
 
institution
 
of
 
own
 
CET1
 
instruments
(50)
(50)
(50)
Adjustment
 
under
 
IFRS
 
9
 
transitional
 
arrangements
2,512
2,459
1,126
Other
 
regulatory
 
adjustments
(62)
(62)
(55)
CET1
 
capital
45,509
45,380
40,813
AT1
 
capital
 
Capital
 
instruments
 
and
 
related
 
share
 
premium
 
accounts
12,012
10,871
10,871
Qualifying
 
AT1
 
capital
 
(including
 
minority
 
interests)
 
issued
 
by
 
subsidiaries
 
622
691
687
Other
 
regulatory
 
adjustments
 
and
 
deductions
(80)
(80)
(130)
AT1
 
capital
12,554
11,482
11,428
T1
 
capital
58,063
56,862
52,241
T2
 
capital
Capital
 
instruments
 
and
 
related
 
share
 
premium
 
accounts
9,451
9,028
7,650
Qualifying
 
T2
 
capital
 
(including
 
minority
 
interests)
 
issued
 
by
 
subsidiaries
2,516
3,396
3,984
Credit
 
risk
 
adjustments
 
(excess
 
of
 
impairment
 
over
 
expected
 
losses)
36
36
16
Other
 
regulatory
 
adjustments
 
and
 
deductions
(160)
(160)
(250)
Total
 
regulatory
 
capital
69,906
69,162
63,641
Total
 
RWAs
310,727
318,987
295,131
 
1
 
CET1,
 
T1
 
and
 
T2
 
capital,
 
and
 
RWAs
 
are
 
calculated
 
applying
 
the
 
transitional
 
arrangements
 
of
 
the
 
CRR
 
as
 
amended
 
by
 
CRR
 
II
 
applicable
 
as
 
at
 
the
 
reporting
 
date
 
.
 
This
includes
 
IFRS
 
9
 
transitional
 
arrangements
 
and
 
the
 
grandfathering
 
of
 
CRR
 
and
 
CRR
 
II
 
non-compliant
 
capital
 
instruments.
 
2
 
The
 
fully
 
loaded
 
CET1
 
ratio,
 
as
 
is
 
relevant
 
for
 
assessing
 
against
 
the
 
conversion
 
trigger
 
in
 
Barclays
 
PLC
 
AT1
 
securities,
 
was
 
13.9%,
 
with
 
£43.0bn
 
of
 
CET1
 
capital
 
and
£309.8bn
 
of
 
RWAs
 
calculated
 
without
 
applying
 
the
 
transitional
 
arrangements
 
of
 
the
 
CRR
 
as
 
amended
 
by
 
CRR
 
II
 
applicable
 
as
 
at
 
the
 
reporting
 
date.
 
3
 
The
 
Barclays
 
PLC
 
CET1
 
ratio,
 
as
 
is
 
relevant
 
for
 
assessing
 
against
 
the
 
conversion
 
trigger
 
in
 
Barclays
 
Bank
 
PLC
 
T2
 
Contingent
 
Capital
 
Notes,
 
was
 
14.6%.
 
For
 
this
calculation
 
CET1
 
capital
 
and
 
RWAs
 
are
 
calculated
 
applying
 
the
 
transitional
 
arrangements
 
under
 
the
 
CRR,
 
including
 
the
 
IFRS
 
9
 
transitional
 
arrangements.
 
The
 
benefit
of
 
the
 
Financial
 
Services
 
Authority
 
(FSA)
 
October
 
2012
 
interpretation
 
of
 
the
 
transitional
 
provisions,
 
relating
 
to
 
the
 
implementatio
 
n
 
of
 
CRD
 
IV,
 
expired
 
in
 
December
2017.
 
 
 
 
Q320EX991P31I0.JPG
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Treasury
 
and
 
Capital
 
Risk
 
 
 
 
 
33
 
 
Movement
 
in
 
CET1
 
capital
Three
 
months
Nine
 
months
ended
ended
30.09.20
30.09.20
£m
£m
Opening
 
CET1
 
capital
45,380
40,813
Profit
 
for
 
the
 
period
 
attributable
 
to
 
equity
 
holders
815
1,937
Own
 
credit
 
relating
 
to
 
derivative
 
liabilities
16
19
Dividends
 
paid
 
and
 
foreseen
(225)
400
Increase
 
in
 
retained
 
regulatory
 
capital
 
generated
 
from
 
earnings
606
2,356
Net
 
impact
 
of
 
share
 
schemes
(268)
20
Fair
 
value
 
through
 
other
 
comprehensive
 
income
 
reserve
173
(205)
Currency
 
translation
 
reserve
(716)
504
Other
 
reserves
(3)
(6)
(Decrease)
 
/
 
increase
 
in
 
other
 
qualifying
 
reserves
(814)
313
Pension
 
remeasurements
 
within
 
reserves
(323)
322
Defined
 
benefit
 
pension
 
fund
 
asset
 
deduction
309
(191)
Net
 
impact
 
of
 
pensions
(14)
131
Additional
 
value
 
adjustments
 
(PVA)
276
505
Goodwill
 
and
 
intangible
 
assets
-
(45)
Deferred
 
tax
 
assets
 
that
 
rely
 
on
 
future
 
profitability
 
excluding
 
those
 
arising
 
from
 
temporary
 
differences
22
57
Adjustment
 
under
 
IFRS
 
9
 
transitional
 
arrangements
53
1,386
Other
 
regulatory
 
adjustments
-
(7)
Increase
 
in
 
regulatory
 
capital
 
due
 
to
 
adjustments
 
and
 
deductions
351
1,896
Closing
 
CET1
 
capital
45,509
45,509
 
CET1
 
capital
 
increased
 
£4.7bn
 
to
 
£45.5bn
 
(December
 
2019:
 
£40.8bn).
 
£1.9bn
 
of
 
capital
 
generated
 
from
 
profits,
 
and
 
a
 
£1.0bn
 
increase
 
due
 
to
 
the
 
cancellation
 
of
 
the
 
full
 
year
 
2019
 
dividend
 
were
 
partially
offset
 
by
 
£0.6bn
 
of
 
AT1
 
coupons
 
paid.
 
Other
 
significant
 
movements
 
in
 
the
 
period
 
were:
 
●
 
A
 
£0.5bn
 
increase
 
in
 
the
 
currency
 
translation
 
reserve
 
mainly
 
driven
 
by
 
the
 
appreciation
 
of
 
period
 
end
 
USD
 
and
 
EUR
against
 
GBP
 
●
 
A
 
£0.5bn
 
increase
 
due
 
to
 
a
 
reduction
 
in
 
PVA
 
which
 
includes
 
the
 
temporary
 
increase
 
to
 
diversification
 
factors
 
applied
 
to
certain
 
additional
 
valuation
 
adjustments
●
 
A
 
£1.4bn
 
increase
 
in
 
the
 
IFRS
 
9
 
transitional
 
relief
 
after
 
tax
 
,
 
following
 
new
 
impairment
 
charges
 
and
 
the
 
implementation
 
of
new
 
regulatory
 
measures
 
which
 
allow
 
for
 
100%
 
relief
 
on
 
increases
 
in
 
stage
 
1
 
and
 
stage
 
2
 
impairment
 
throughout
 
2020
and
 
2021
 
 
 
Q320EX991P31I0.JPG
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Treasury
 
and
 
Capital
 
Risk
 
 
 
 
 
34
 
 
RWAs
 
by
 
risk
 
type
 
and
 
business
Credit
 
risk
Counterparty
 
credit
 
risk
Market
 
risk
Operational
risk
Total
RWAs
Std
IRB
Std
IRB
Settlement
risk
CVA
Std
IMA
As
 
at
 
30.09.20
£m
£m
£m
£m
£m
£m
£m
£m
£m
£m
Barclays
 
UK
7,350
56,373
369
-
-
100
125
-
11,851
76,168
Corporate
 
and
 
Investment
 
Bank
24,800
76,464
11,628
20,645
106
2,545
13,043
22,709
21,388
193,328
Consumer,
 
Cards
 
and
 
Payments
20,597
2,921
168
47
-
35
-
75
7,538
31,381
Barclays
 
International
45,397
79,385
11,796
20,692
106
2,580
13,043
22,784
28,926
224,709
Head
 
Office
3,701
6,022
-
-
-
-
-
-
127
9,850
Barclays
 
Group
56,448
141,780
12,165
20,692
106
2,680
13,168
22,784
40,904
310,727
As
 
at
 
30.06.20
Barclays
 
UK
7,428
58,048
359
 
-
 
 
-
 
48
122
 
-
 
11,851
77,856
Corporate
 
and
 
Investment
 
Bank
27,032
77,983
11,879
20,472
218
3,871
12,830
22,638
21,387
198,310
Consumer,
 
Cards
 
and
 
Payments
21,901
3,168
157
46
 
-
 
27
 
-
 
95
7,539
32,933
Barclays
 
International
48,933
81,151
12,036
20,518
218
3,898
12,830
22,733
28,926
231,243
Head
 
Office
3,578
6,183
 
-
 
 
-
 
 
-
 
 
-
 
 
-
 
-
127
9,888
Barclays
 
Group
59,939
145,382
12,395
20,518
218
3,946
12,952
22,733
40,904
318,987
As
 
at
 
31.12.19
Barclays
 
UK
5,189
57,455
235
-
-
23
178
-
11,821
74,901
Corporate
 
and
 
Investment
 
Bank
25,749
62,177
12,051
16,875
276
2,470
12,854
17,626
21,475
171,553
Consumer,
 
Cards
 
and
 
Payments
27,209
2,706
92
37
-
11
-
103
7,532
37,690
Barclays
 
International
52,958
64,883
12,143
16,912
276
2,481
12,854
17,729
29,007
209,243
Head
 
Office
5,104
5,754
-
-
-
-
-
-
129
10,987
Barclays
 
Group
63,251
128,092
12,378
16,912
276
2,504
13,032
17,729
40,957
295,131
 
Movement
 
analysis
 
of
 
RWAs
Credit
 
risk
 
Counterparty
credit
 
risk
Market
 
risk
Operational
 
risk
Total
 
RWAs
£m
£m
£m
£m
£m
Opening
 
RWAs
 
(as
 
at
 
31.12.19)
191,343
32,070
30,761
40,957
295,131
Book
 
size
(4,793)
1,963
10,031
(53)
7,148
Acquisitions
 
and
 
disposals
(119)
-
-
-
(119)
Book
 
quality
9,792
1,112
-
-
10,904
Model
 
updates
1,933
(50)
-
-
1,883
Methodology
 
and
 
policy
(1,879)
548
(4,840)
-
(6,171)
Foreign
 
exchange
 
movements
1
1,951
-
-
-
1,951
Total
 
RWA
 
movements
6,885
3,573
5,191
(53)
15,596
Closing
 
RWAs
 
(as
 
at
 
30.09.20)
198,228
35,643
35,952
40,904
310,727
 
1
 
Foreign
 
exchange
 
movements
 
do
 
not
 
include
 
foreign
 
exchange
 
for
 
counterparty
 
credit
 
risk
 
or
 
market
 
risk.
 
Overall
 
RWAs
 
increased
 
£15.6bn
 
mainly
 
driven
 
by:
 
Credit
 
risk
 
RWAs
 
increased
 
£6.9bn
 
mainly
 
due
 
to:
●
 
Book
 
size
 
decreased
 
RWAs
 
£4.8bn
 
primarily
 
due
 
to
 
a
 
reduction
 
in
 
lending
 
activities,
 
repayments
 
and
 
lower
 
IEL
 
balances
●
 
Book
 
quality
 
increased
 
RWAs
 
£9.8bn
 
mainly
 
due
 
to
 
a
 
reduction
 
in
 
credit
 
quality
 
primarily
 
within
 
CIB
●
 
Model
 
updates
 
increased
 
RWAs
 
£1.9bn
 
primarily
 
due
 
to
 
modelled
 
risk
 
weight
 
recalibrations
●
 
Methodology
 
and
 
policy
 
decreased
 
RWAs
 
£1.9bn
 
primarily
 
due
 
the
 
application
 
of
 
revised
 
SME
 
discount
 
factors
 
following
the
 
early
 
adoption
 
of
 
specific
 
CRR
 
II
 
measures
●
 
FX
 
increased
 
RWAs
 
£2.0bn
 
due
 
to
 
the
 
appreciation
 
of
 
period
 
end
 
USD
 
against
 
GBP
 
 
 
 
Q320EX991P31I0.JPG
Treasury
 
and
 
Capital
 
Risk
 
 
 
 
 
35
 
 
Counterparty
 
credit
 
risk
 
RWAs
 
increased
 
£3.6bn
 
mainly
 
due
 
to:
●
 
Book
 
size
 
increased
 
RWAs
 
£2.0bn
 
primarily
 
due
 
to
 
an
 
increase
 
in
 
trading
 
activities
 
across
 
SFTs
 
and
 
derivatives
●
 
Book
 
quality
 
increased
 
RWAs
 
£1.1bn
 
primarily
 
due
 
to
 
a
 
reduction
 
in
 
credit
 
quality
 
within
 
CIB
 
Market
 
risk
 
RWAs
 
increased
 
£5.2bn
 
mainly
 
due
 
to:
●
 
Book
 
size
 
increased
 
RWAs
 
£10.0bn
 
primarily
 
due
 
to
 
an
 
increase
 
in
 
trading
 
activities
 
and
 
higher
 
market
 
volatility
●
 
Methodology
 
and
 
policy
 
decreased
 
RWAs
 
£4.8bn
 
primarily
 
due
 
to
 
the
 
removal
 
of
 
a
 
Risk
 
Not
 
In
 
VaR
 
(RNIV)
 
and
 
a
 
reduct
 
ion
in
 
pre
 
COVID
 
-19
 
VaR
 
back
 
testing
 
exceptions
 
 
 
Q320EX991P31I0.JPG
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Treasury
 
and
 
Capital
 
Risk
 
 
 
 
 
36
 
 
Leverage
 
ratio
 
and
 
exposures
The
 
Group
 
is
 
subject
 
to
 
a
 
leverage
 
ratio
 
requirement
 
of
 
3.8%
 
as
 
at
 
30
 
September
 
2020.
 
This
 
comprises
 
the
 
3.25%
 
minimum
requirement,
 
a
 
G-SII
 
additional
 
leverage
 
ratio
 
buffer
 
(G-SII
 
ALRB)
 
of
 
0.53%
 
and
 
a
 
countercyclical
 
leverage
 
ratio
 
buffer
 
(CCLB)
 
of
0.0%.
 
Although
 
the
 
leverage
 
ratio
 
is
 
expressed
 
in
 
terms
 
of
 
T1
 
capital,
 
75%
 
of
 
the
 
minimum
 
requirement,
 
equating
 
to
 
2.4375%,
needs
 
to
 
be
 
met
 
with
 
CET1
 
capital.
 
In
 
addition,
 
the
 
G-SII
 
ALRB
 
must
 
be
 
covered
 
solely
 
with
 
CET1
 
capital.
 
The
 
CET1
 
capital
 
held
against
 
the
 
0.53%
 
G-SII
 
ALRB
 
was
 
£5.8bn.
 
The
 
Group
 
is
 
required
 
to
 
disclose
 
an
 
average
 
UK
 
leverage
 
ratio
 
which
 
is
 
based
 
on
 
capital
 
on
 
the
 
last
 
day
 
of
 
each
 
month
 
in
 
the
quarter
 
and
 
an
 
exposure
 
measure
 
for
 
each
 
day
 
in
 
the
 
quarter.
 
The
 
Group
 
is
 
also
 
required
 
to
 
disclose
 
a
 
UK
 
leverage
 
ratio
 
based
 
on
capital
 
and
 
exposure
 
on
 
the
 
last
 
day
 
of
 
the
 
quarter.
 
Both
 
approaches
 
exclude
 
qualifying
 
claims
 
on
 
central
 
banks
 
from
 
the
 
leverage
exposures
 
and
 
include
 
the
 
PRA’s
 
early
 
adoption
 
of
 
CRR
 
II
 
settlement
 
netting.
 
Leverage
 
ratios
1,2
As
 
at
30.09.20
As
 
at
30.06.20
As
 
at
31.12.19
£m
£m
£m
Average
 
UK
 
leverage
 
ratio
5.1%
4.7%
4.5%
Average
 
T1
 
capital
3
56,690
54,548
51,823
Average
 
UK
 
leverage
 
exposure
1,111,052
1,148,720
1,142,819
UK
 
leverage
 
ratio
5.2%
5.2%
5.1%
CET1
 
capital
45,509
45,380
40,813
AT1
 
capital
11,932
10,791
10,741
T1
 
capital
3
57,441
56,171
51,554
UK
 
leverage
 
exposure
1,095,097
1,071,138
1,007,721
UK
 
leverage
 
exposure
Accounting
 
assets
Derivative
 
financial
 
instruments
296,551
307,258
229,236
Derivative
 
cash
 
collateral
67,034
77,063
56,589
Securities
 
financing
 
transactions
 
(SFTs)
178,736
160,015
111,307
Loans
 
and
 
advances
 
and
 
other
 
assets
879,348
840,781
743,097
Total
 
IFRS
 
assets
1,421,669
1,385,117
1,140,229
Regulatory
 
consolidation
 
adjustments
(1,943)
(1,982)
(1,170)
Derivatives
 
adjustments
Derivatives
 
netting
 
(269,441)
(279,151)
(207,756)
Adjustments
 
to
 
cash
 
collateral
(58,298)
(67,718)
(48,464)
Net
 
written
 
credit
 
protection
15,890
14,442
13,784
Potential
 
future
 
exposure
 
(PFE)
 
on
 
derivatives
122,426
123,468
119,118
Total
 
derivatives
 
adjustments
(189,423)
(208,959)
(123,318)
SFTs
 
adjustments
20,274
21,226
18,339
Regulatory
 
deductions
 
and
 
other
 
adjustments
(18,011)
(18,297)
(11,984)
Weighted
 
off-balance
 
sheet
 
commitments
110,749
108,436
105,289
Qualifying
 
central
 
bank
 
claims
(205,451)
(173,033)
(119,664)
Settlement
 
netting
(42,767)
(41,370)
-
UK
 
leverage
 
exposure
2
1,095,097
1,071,138
1,007,721
 
1
 
Fully
 
loaded
 
average
 
UK
 
leverage
 
ratio
 
was
 
4.9%,
 
with
 
£54.2bn
 
of
 
T1
 
capital
 
and
 
£1,109bn
 
of
 
leverage
 
exposure.
 
Fully
 
loaded
 
UK
 
leverage
 
ratio
 
was
 
5.0%,
 
with
£54.9bn
 
of
 
T1
 
capital
 
and
 
£1,093bn
 
of
 
leverage
 
exposure.
 
Fully
 
loaded
 
UK
 
leverage
 
ratios
 
are
 
calculated
 
without
 
applying
 
the
 
transitional
 
arrangements
 
of
 
the
 
CRR
as
 
amended
 
by
 
CRR
 
II
 
applicable
 
as
 
at
 
the
 
reporting
 
date.
 
2
 
Capital
 
and
 
leverage
 
measures
 
are
 
calculated
 
applying
 
the
 
transitional
 
arrangements
 
of
 
the
 
CRR
 
as
 
amended
 
by
 
CRR
 
II
 
applicable
 
as
 
at
 
the
 
reporting
 
date
 
.
3
 
T1
 
capital
 
is
 
calculated
 
in
 
line
 
with
 
the
 
PRA
 
Handbook.
 
 
Q320EX991P31I0.JPG
Treasury
 
and
 
Capital
 
Risk
 
 
 
 
 
37
 
 
The
 
average
 
UK
 
leverage
 
ratio
 
increased
 
to
 
5.1%
 
(December
 
2019:
 
4.5%),
 
driven
 
by
 
an
 
increase
 
in
 
T1
 
capital.
 
The
 
leverage
 
expos
 
ure
decreased
 
by
 
£32bn
 
to
 
£1,111bn,
 
primarily
 
driven
 
by
 
the
 
PRA’s
 
early
 
adoption
 
of
 
CRR
 
II
 
settlement
 
netting.
 
The
 
UK
 
leverage
 
ratio
 
increased
 
to
 
5.2%
 
(December
 
2019:
 
5.1%),
 
driven
 
by
 
an
 
increase
 
in
 
T1
 
capital.
 
The
 
UK
 
leverage
 
exposure
increased
 
by
 
£87bn
 
to
 
£1,095bn,
 
primarily
 
driven
 
by
 
an
 
increase
 
in
 
SFTs
 
of
 
£67bn.
 
Loans,
 
advances
 
and
 
other
 
assets
 
increase
 
of
£136bn
 
was
 
broadly
 
offset
 
by
 
qualifying
 
central
 
bank
 
claims
 
and
 
the
 
PRA’s
 
early
 
adoption
 
of
 
CRR
 
II
 
settlement
 
netting.
 
The
 
Group
 
also
 
discloses
 
a
 
CRR
 
leverage
 
ratio
1
 
within
 
its
 
additional
 
regulatory
 
disclosures
 
prepared
 
in
 
accordance
 
with
 
EBA
guidelines
 
on
 
disclosure
 
under
 
Part
 
Eight
 
of
 
the
 
CRR
 
(see
 
Barc
 
lays
 
PLC
 
Pillar
 
3
 
Report
 
Q3
 
2020,
 
expected
 
to
 
be
 
published
 
on
 
23
October
 
2020
 
and
 
which
 
will
 
be
 
available
 
at
 
home.barclays/investor
 
-relations/reports
 
-and-events/latest
 
-financial-results).
 
 
1
 
CRR
 
leverage
 
ratio
 
as
 
amended
 
by
 
CRR
 
II
 
applicable
 
as
 
at
 
the
 
reporting
 
date.
 
 
Q320EX991P31I0.JPG
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Treasury
 
and
 
Capital
 
Risk
 
 
 
 
 
38
 
 
MREL
CRR
 
II
 
requirements
 
relating
 
to
 
own
 
funds
 
and
 
eligible
 
liabilities
 
came
 
into
 
effect
 
from
 
27
 
June
 
2019.
 
Eligible
 
liabilities
 
have
 
been
calculated
 
reflecting
 
the
 
Group’s
 
interpretation
 
of
 
the
 
current
 
rules
 
and
 
guidance.
 
Certain
 
aspects
 
of
 
CRR
 
II
 
are
 
dependent
 
on
 
final
technical
 
standards
 
to
 
be
 
issued
 
by
 
the
 
EBA
 
and
 
adopted
 
by
 
the
 
European
 
Commission
 
as
 
well
 
as
 
UK
 
implementation
 
of
 
the
 
rules.
 
The
 
Group
 
is
 
required
 
to
 
meet
 
the
 
higher
 
of:
 
(i)
 
the
 
MREL
 
set
 
by
 
the
 
Bank
 
of
 
England;
 
and
 
(ii)
 
the
 
requirements
 
in
 
CRR
 
II,
 
both
 
of
which
 
have
 
RWA
 
and
 
leverage
 
based
 
requirements.
 
MREL
 
is
 
subject
 
to
 
phased
 
implementation
 
and
 
will
 
be
 
fully
 
implemented
 
by
 
1
January
 
2022,
 
at
 
which
 
time
 
the
 
Group’s
 
indicative
 
MREL
 
is
 
expected
 
to
 
be
 
two
 
times
 
the
 
sum
 
of
 
its
 
Pillar
 
1
 
and
 
Pillar
 
2A
requirements,
 
as
 
set
 
by
 
the
 
Bank
 
of
 
England.
 
In
 
addition,
 
CET1
 
capital
 
cannot
 
be
 
counted
 
towards
 
both
 
MREL
 
and
 
the
 
capital
buffers,
 
meaning
 
that
 
the
 
buffers
 
will
 
effectively
 
be
 
applied
 
above
 
both
 
the
 
Pillar
 
1
 
and
 
Pillar
 
2A
 
requirements
 
relating
 
to
 
own
 
funds
and
 
eligible
 
liabilities.
 
The
 
Bank
 
of
 
England
 
will
 
review
 
the
 
MREL
 
calibration
 
by
 
the
 
end
 
of
 
2020,
 
including
 
assessing
 
the
 
proposal
 
for
Pillar
 
2A
 
recapitalisation,
 
which
 
may
 
drive
 
a
 
different
 
1
 
January
 
2022
 
MREL
 
than
 
currently
 
proposed.
 
Own
 
funds
 
and
 
eligible
 
liabilities
 
ratios
1
As
 
at
30.09.20
As
 
at
30.06.20
As
 
at
31.12.19
CET1
 
capital
14.6%
14.2%
13.8%
AT1
 
capital
 
instruments
 
and
 
related
 
share
 
premium
 
accounts
2
3.8%
3.4%
3.6%
T2
 
capital
 
instruments
 
and
 
related
 
share
 
premium
 
accounts
2
3.0%
2.8%
2.5%
Eligible
 
liabilities
11.3%
12.0%
11.2%
Total
 
Barclays
 
PLC
 
(the
 
Parent
 
company)
 
own
 
funds
 
and
 
eligible
 
liabilities
32.8%
32.4%
31.2%
Qualifying
 
AT1
 
capital
 
(including
 
minority
 
interests)
 
issued
 
by
 
subsidiaries
0.2%
0.2%
0.2%
Qualifying
 
T2
 
capital
 
(including
 
minority
 
interests)
 
issued
 
by
 
subsidiaries
0.8%
1.1%
1.3%
Total
 
own
 
funds
 
and
 
eligible
 
liabilities,
 
including
 
eligible
 
Barclays
 
Bank
 
PLC
 
instruments
33.8%
33.7%
32.8%
Own
 
funds
 
and
 
eligible
 
liabilities
1
£m
£m
£m
CET1
 
capital
45,509
45,380
40,813
AT1
 
capital
 
instruments
 
and
 
related
 
share
 
premium
 
accounts
2
11,932
10,791
10,741
T2
 
capital
 
instruments
 
and
 
related
 
share
 
premium
 
accounts
2
9,327
8,904
7,416
Eligible
 
liabilities
35,209
38,308
33,025
Total
 
Barclays
 
PLC
 
(the
 
Parent
 
company)
 
own
 
funds
 
and
 
eligible
 
liabilities
101,977
103,383
91,995
Qualifying
 
AT1
 
capital
 
(including
 
minority
 
interests)
 
issued
 
by
 
subsidiaries
622
691
687
Qualifying
 
T2
 
capital
 
(including
 
minority
 
interests)
 
issued
 
by
 
subsidiaries
2,516
3,396
3,984
Total
 
own
 
funds
 
and
 
eligible
 
liabilities,
 
including
 
eligible
 
Barclays
 
Bank
 
PLC
 
instruments
105,115
107,470
96,666
Total
 
RWAs
1
310,727
318,987
295,131
 
1
 
CET1,
 
T1
 
and
 
T2
 
capital,
 
and
 
RWAs
 
are
 
calculated
 
applying
 
the
 
transitional
 
arrangements
 
of
 
the
 
CRR
 
as
 
amended
 
by
 
CRR
 
II
 
applicable
 
as
 
at
 
the
 
reporting
 
date.
 
This
includes
 
IFRS
 
9
 
transitional
 
arrangements
 
and
 
the
 
grandfathering
 
of
 
CRR
 
and
 
CRR
 
II
 
non-compliant
 
capital
 
instruments.
2
 
Includes
 
other
 
AT1
 
capital
 
regulatory
 
adjustments
 
and
 
deductions
 
of
 
£80m
 
(December
 
2019:
 
£130m),
 
and
 
other
 
T2
 
credit
 
risk
 
adjustments
 
and
 
deductions
 
of
 
£124m
(December
 
2019:
 
£234m).
 
 
Q320EX991P31I0.JPG
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Condensed
 
Consolidated
 
Financial
 
Statements
 
 
 
 
 
39
 
 
Condensed
 
consolidated
 
income
 
statement
Nine
 
months
ended
Nine
 
months
ended
30.09.20
30.09.19
£m
£m
Total
 
income
16,825
16,331
Credit
 
impairment
 
charges
(4,346)
(1,389)
Net
 
operating
 
income
12,479
14,942
Operating
 
expenses
 
excluding
 
litigation
 
and
 
conduct
(9,954)
(10,051)
Litigation
 
and
 
conduct
(106)
(1,682)
Operating
 
expenses
(10,060)
(11,733)
Other
 
net
 
income
-
51
Profit
 
before
 
tax
2,419
3,260
Tax
 
charge
(441)
(814)
Profit
 
after
 
tax
1,978
2,446
Attributable
 
to:
Equity
 
holders
 
of
 
the
 
parent
1,306
1,780
Other
 
equity
 
instrument
 
holders
631
628
Total
 
equity
 
holders
 
of
 
the
 
parent
1,937
2,408
Non-controlling
 
interests
41
38
Profit
 
after
 
tax
1,978
2,446
Earnings
 
per
 
share
p
p
Basic
 
earnings
 
per
 
ordinary
 
share
7.6
10.4
 
 
Q320EX991P31I0.JPG
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Condensed
 
Consolidated
 
Financial
 
Statements
 
 
 
 
 
40
 
 
Condensed
 
consolidated
 
balance
 
sheet
As
 
at
As
 
at
30.09.20
31.12.19
Assets
£m
£m
Cash
 
and
 
balances
 
at
 
central
 
banks
240,973
150,258
Cash
 
collateral
 
and
 
settlement
 
balances
125,413
83,256
Loans
 
and
 
advances
 
at
 
amortised
 
cost
344,410
339,115
Reverse
 
repurchase
 
agreements
 
and
 
other
 
similar
 
secured
 
lending
15,436
3,379
Trading
 
portfolio
 
assets
122,741
114,195
Financial
 
assets
 
at
 
fair
 
value
 
through
 
the
 
income
 
statement
182,760
133,086
Derivative
 
financial
 
instruments
296,551
229,236
Financial
 
assets
 
at
 
fair
 
value
 
through
 
other
 
comprehensive
 
income
71,289
65,750
Investments
 
in
 
associates
 
and
 
joint
 
ventures
741
721
Goodwill
 
and
 
intangible
 
assets
8,163
8,119
Current
 
tax
 
assets
630
412
Deferred
 
tax
 
assets
2,929
3,290
Other
 
assets
9,633
9,412
Total
 
assets
1,421,669
1,140,229
Liabilities
Deposits
 
at
 
amortised
 
cost
494,593
415,787
Cash
 
collateral
 
and
 
settlement
 
balances
112,532
67,341
Repurchase
 
agreements
 
and
 
other
 
similar
 
secured
 
borrowing
20,972
14,517
Debt
 
securities
 
in
 
issue
98,688
76,369
Subordinated
 
liabilities
20,259
18,156
Trading
 
portfolio
 
liabilities
51,075
36,916
Financial
 
liabilities
 
designated
 
at
 
fair
 
value
249,322
204,326
Derivative
 
financial
 
instruments
293,446
229,204
Current
 
tax
 
liabilities
 
454
313
Deferred
 
tax
 
liabilities
-
23
Other
 
liabilities
11,271
11,617
Total
 
liabilities
1,352,612
1,074,569
Equity
Called
 
up
 
share
 
capital
 
and
 
share
 
premium
4,630
4,594
Other
 
reserves
5,349
4,760
Retained
 
earnings
 
45,825
44,204
Shareholders'
 
equity
 
attributable
 
to
 
ordinary
 
shareholders
 
of
 
the
 
parent
55,804
53,558
Other
 
equity
 
instruments
12,012
10,871
Total
 
equity
 
excluding
 
non-controlling
 
interests
67,816
64,429
Non-controlling
 
interests
1,241
1,231
Total
 
equity
69,057
65,660
Total
 
liabilities
 
and
 
equity
1,421,669
1,140,229
 
 
Q320EX991P31I0.JPG
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Condensed
 
Consolidated
 
Financial
 
Statements
 
 
 
 
 
41
 
 
Condensed
 
consolidated
 
statement
 
of
 
changes
 
in
 
equity
Called
 
up
share
 
capital
and
 
share
premium
Other
 
equity
instruments
Other
reserves
Retained
earnings
Total
Non-
controlling
interests
Total
equity
Nine
 
months
 
ended
 
30.09.20
£m
£m
£m
£m
£m
£m
£m
Balance
 
as
 
at
 
1
 
January
 
2020
4,594
10,871
4,760
44,204
64,429
1,231
65,660
Profit
 
after
 
tax
-
631
-
1,306
1,937
41
1,978
Retirement
 
benefit
 
remeasurements
-
-
-
322
322
-
322
Other
-
-
604
(7)
597
-
597
Total
 
comprehensive
 
income
 
for
 
the
 
period
-
631
604
1,621
2,856
41
2,897
Equity
 
settled
 
share
 
schemes
36
-
-
338
374
-
374
Issue
 
and
 
exchange
 
of
 
other
 
equity
instruments
-
1,142
-
-
1,142
-
1,142
Other
 
equity
 
instruments
 
coupons
 
paid
-
(631)
-
-
(631)
-
(631)
Vesting
 
of
 
shares
 
under
 
employee
 
share
schemes
-
-
(15)
(339)
(354)
-
(354)
Dividends
 
paid
-
-
-
-
-
(40)
(40)
Other
 
movements
-
(1)
-
1
-
9
9
Balance
 
as
 
at
 
30
 
September
 
2020
4,630
12,012
5,349
45,825
67,816
1,241
69,057
Three
 
months
 
ended
 
30.09.20
Balance
 
as
 
at
 
1
 
July
 
2020
4,620
10,871
6,996
45,817
68,304
1,237
69,541
Profit
 
after
 
tax
-
204
-
611
815
4
819
Retirement
 
benefit
 
remeasurements
-
-
-
(323)
(323)
-
(323)
Other
-
-
(1,646)
(1)
(1,647)
-
(1,647)
Total
 
comprehensive
 
income
 
for
 
the
 
period
-
204
(1,646)
287
(1,155)
4
(1,151)
Equity
 
settled
 
share
 
schemes
10
-
-
(265)
(255)
-
(255)
Issue
 
and
 
exchange
 
of
 
other
 
equity
instruments
-
1,142
-
-
1,142
-
1,142
Other
 
equity
 
instruments
 
coupons
 
paid
-
(204)
-
-
(204)
-
(204)
Vesting
 
of
 
shares
 
under
 
employee
 
share
schemes
-
-
(1)
(12)
(13)
-
(13)
Dividends
 
paid
-
-
-
-
-
(3)
(3)
Other
 
movements
-
(1)
-
(2)
(3)
3
-
Balance
 
as
 
at
 
30
 
September
 
2020
4,630
12,012
5,349
45,825
67,816
1,241
69,057
 
As
 
at
As
 
at
30.09.20
31.12.19
Other
 
reserves
£m
£m
Currency
 
translation
 
reserve
3,848
3,344
Fair
 
value
 
through
 
other
 
comprehensive
 
income
 
reserve
(392)
(187)
Cash
 
flow
 
hedging
 
reserve
1,745
1,002
Own
 
credit
 
reserve
(811)
(373)
Other
 
reserves
 
and
 
treasury
 
shares
959
974
Total
5,349
4,760
 
 
Q320EX991P31I0.JPG
 
Appendix:
 
Non-IFRS
 
Performance
 
Measures
 
 
 
 
 
42
 
 
The
 
Group’s
 
management
 
believes
 
that
 
the
 
non-IFRS
 
performance
 
measures
 
included
 
in
 
this
 
document
 
provide
 
valuable
information
 
to
 
the
 
readers
 
of
 
the
 
financial
 
statements
 
as
 
they
 
enable
 
the
 
reader
 
to
 
identify
 
a
 
more
 
consistent
 
basis
 
for
 
comparing
the
 
businesses’
 
performance
 
between
 
financial
 
periods,
 
and
 
provide
 
more
 
detail
 
concerning
 
the
 
elements
 
of
 
performance
 
which
the
 
managers
 
of
 
these
 
businesses
 
are
 
most
 
directly
 
able
 
to
 
influence
 
or
 
are
 
relevant
 
for
 
an
 
assessment
 
of
 
the
 
Group.
 
They
 
also
reflect
 
an
 
important
 
aspect
 
of
 
the
 
way
 
in
 
which
 
operating
 
targets
 
are
 
defined
 
and
 
performance
 
is
 
monitored
 
by
 
management.
 
However,
 
any
 
non-IFRS
 
performance
 
measures
 
in
 
this
 
document
 
are
 
not
 
a
 
substitute
 
for
 
IFRS
 
measures
 
and
 
readers
 
should
consider
 
the
 
IFRS
 
measures
 
as
 
well.
 
Non-IFRS
 
performance
 
measures
 
glossary
 
 
Measure
Definition
Loan:
 
deposit
 
ratio
Loans
 
and
 
advances
 
at
 
amortised
 
cost
 
divided
 
by
 
deposits
 
at
 
amortised
 
cost.
Period
 
end
 
allocated
tangible
 
equity
Allocated
 
tangible
 
equity
 
is
 
calculated
 
as
 
13.0%
 
(2019:
 
13.0%)
 
of
 
RWAs
 
for
 
each
 
business,
 
adjusted
for
 
capital
 
deductions,
 
excluding
 
goodwill
 
and
 
intangible
 
assets,
 
reflecting
 
the
 
assumptions
 
the
 
Group
uses
 
for
 
capital
 
planning
 
purposes.
 
Head
 
Office
 
allocated
 
tangible
 
equity
 
represent
 
s
 
the
 
difference
between
 
the
 
Group’s
 
tangible
 
shareholders’
 
equity
 
and
 
the
 
amounts
 
allocated
 
to
 
businesses.
Average
 
tangible
shareholders’
 
equity
Calculated
 
as
 
the
 
average
 
of
 
the
 
previous
 
month’s
 
period
 
end
 
tangible
 
equity
 
and
 
the
 
current
month’s
 
period
 
end
 
tangible
 
equity.
 
The
 
average
 
tangible
 
shareholders’
 
equity
 
for
 
the
 
period
 
is
 
the
average
 
of
 
the
 
monthly
 
averages
 
within
 
that
 
period.
Average
 
allocated
tangible
 
equity
Calculated
 
as
 
the
 
average
 
of
 
the
 
previous
 
month’s
 
period
 
end
 
allocated
 
tangible
 
equity
 
and
 
the
current
 
month’s
 
period
 
end
 
allocated
 
tangible
 
equity.
 
The
 
average
 
allocated
 
tangible
 
equity
 
for
 
the
period
 
is
 
the
 
average
 
of
 
the
 
monthly
 
averages
 
within
 
that
 
period.
Return
 
on
 
average
tangible
 
shareholders’
equity
Annualised
 
profit
 
after
 
tax
 
attributable
 
to
 
ordinary
 
equity
 
holders
 
of
 
the
 
parent,
 
as
 
a
 
proportion
 
of
average
 
shareholders’
 
equity
 
excluding
 
non-controlling
 
interests
 
and
 
other
 
equity
 
instruments
adjusted
 
for
 
the
 
deduction
 
of
 
intangible
 
assets
 
and
 
goodwill.
 
The
 
components
 
of
 
the
 
calculation
 
have
been
 
included
 
on
 
page
 
43.
Return
 
on
 
average
allocated
 
tangible
 
equity
Annualised
 
profit
 
after
 
tax
 
attributable
 
to
 
ordinary
 
equity
 
holders
 
of
 
the
 
parent,
 
as
 
a
 
proportion
 
of
average
 
allocated
 
tangible
 
equity.
 
The
 
components
 
of
 
the
 
calculation
 
have
 
been
 
included
 
on
 
page
 
43
 
.
Cost:
 
income
 
ratio
Total
 
operating
 
expenses
 
divided
 
by
 
total
 
income.
Loan
 
loss
 
rate
Quoted
 
in
 
basis
 
points
 
and
 
represents
 
total
 
annualised
 
impairment
 
charges
 
divided
 
by
 
gross
 
loans
and
 
advances
 
held
 
at
 
amortised
 
cost
 
at
 
the
 
balance
 
sheet
 
date.
 
The
 
components
 
of
 
the
 
calculation
have
 
been
 
included
 
on
 
page
 
25.
Net
 
interest
 
margin
Annualised
 
net
 
interest
 
income
 
divided
 
by
 
the
 
sum
 
of
 
average
 
customer
 
assets.
 
The
 
components
 
of
the
 
calculation
 
have
 
been
 
included
 
on
 
page
 
24.
Tangible
 
net
 
asset
 
value
per
 
share
Calculated
 
by
 
dividing
 
shareholders’
 
equity,
 
excluding
 
non-controlling
 
interests
 
and
 
other
 
equity
instruments,
 
less
 
goodwill
 
and
 
intangible
 
assets,
 
by
 
the
 
number
 
of
 
issued
 
ordinary
 
shares.
 
The
components
 
of
 
the
 
calculation
 
have
 
been
 
included
 
on
 
page
 
51.
Performance
 
measures
excluding
 
litigation
 
and
conduct
Calculated
 
by
 
excluding
 
litigation
 
and
 
conduct
 
charges
 
from
 
performance
 
measures.
 
The
 
components
of
 
the
 
calculations
 
have
 
been
 
included
 
on
 
pages
 
44
 
to
 
51.
Pre
 
-provision
 
profits
Calculated
 
by
 
excluding
 
credit
 
impairment
 
charges
 
from
 
profit
 
before
 
tax.
 
The
 
components
 
of
 
the
calculation
 
have
 
been
 
included
 
on
 
pages
 
44
 
to
 
46.
Pre
 
-provision
 
profits
excluding
 
litigation
 
and
conduct
Calculated
 
by
 
excluding
 
credit
 
impairment
 
charges,
 
and
 
litigation
 
and
 
conduct
 
charges
 
from
 
profit
before
 
tax.
 
The
 
components
 
of
 
the
 
calculation
 
have
 
been
 
included
 
on
 
pages
 
44
 
to
 
46.
 
 
Q320EX991P31I0.JPG
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Appendix:
 
Non-IFRS
 
Performance
 
Measures
 
 
 
 
 
43
 
 
Returns
 
Return
 
on
 
average
 
tangible
 
equity
 
is
 
calculated
 
as
 
profit
 
after
 
tax
 
attributable
 
to
 
ordinary
 
equity
 
holders
 
of
 
the
 
parent
 
as
 
a
proportion
 
of
 
average
 
tangible
 
equity,
 
excluding
 
non-controlling
 
and
 
other
 
equity
 
interests
 
for
 
businesses.
 
Allocated
 
tangible
 
equity
has
 
been
 
calculated
 
as
 
13.0%
 
(2019:
 
13.0%)
 
of
 
RWAs
 
for
 
each
 
business,
 
adjusted
 
for
 
capital
 
deductions,
 
excluding
 
goodwill
 
and
intangible
 
assets,
 
reflecting
 
the
 
assumptions
 
the
 
Group
 
uses
 
for
 
capital
 
planning
 
purposes.
 
Head
 
Office
 
average
 
allocated
 
tan
 
gible
equity
 
represents
 
the
 
difference
 
between
 
the
 
Group’s
 
average
 
tangible
 
shareholders’
 
equity
 
and
 
the
 
amounts
 
allocated
 
to
businesses.
 
 
Profit/(loss)
attributable
 
to
ordinary
 
equity
holders
 
of
 
the
parent
Average
tangible
 
equity
Return
 
on
average
tangible
 
equity
Nine
 
months
 
ended
 
30.09.20
£m
£bn
%
Barclays
 
UK
165
10.2
2.2
 
Corporate
 
and
 
Investment
 
Bank
2,141
27.2
10.5
 
Consumer,
 
Cards
 
and
 
Payments
(362)
4.6
(10.6)
Barclays
 
International
1,779
31.8
7.5
Head
 
Office
(638)
6.5
n/m
Barclays
 
Group
1,306
48.5
3.6
Nine
 
months
 
ended
 
30.09.19
Barclays
 
UK
(157)
10.4
(2.0)
 
Corporate
 
and
 
Investment
 
Bank
1,787
25.9
9.2
 
Consumer,
 
Cards
 
and
 
Payments
632
5.3
15.8
Barclays
 
International
2,419
31.2
10.3
Head
 
Office
(482)
5.0
n/m
Barclays
 
Group
1,780
46.6
5.1
 
 
Q320EX991P31I0.JPG
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Appendix:
 
Non-IFRS
 
Performance
 
Measures
 
 
 
 
 
44
 
 
Performance
 
measures
 
excluding
 
litigation
 
and
 
conduct
Nine
 
months
 
ended
 
30.09.20
Barclays
 
UK
Corporate
 
and
Investment
Bank
Consumer,
Cards
 
and
Payments
Barclays
International
Head
 
Office
Barclays
Group
Cost:
 
income
 
ratio
£m
£m
£m
£m
£m
£m
Total
 
operating
 
expenses
(3,172)
(5,092)
(1,579)
(6,671)
(217)
(10,060)
Impact
 
of
 
litigation
 
and
 
conduct
36
6
33
39
31
106
Operating
 
expenses
(3,136)
(5,086)
(1,546)
(6,632)
(186)
(9,954)
Total
 
income
4,721
9,838
2,597
12,435
(331)
16,825
Cost:
 
income
 
ratio
 
excluding
 
litigation
 
and
conduct
66%
52%
60%
53%
n/m
59%
Profit
 
before
 
tax
Profit/(loss)
 
before
 
tax
264
3,243
(449)
2,794
(639)
2,419
Impact
 
of
 
litigation
 
and
 
conduct
36
6
33
39
31
106
Profit/(loss)
 
before
 
tax
 
excluding
 
litigation
 
and
conduct
300
3,249
(416)
2,833
(608)
2,525
Profit
 
attributable
 
to
 
ordinary
 
equity
 
holders
 
of
the
 
parent
Attributable
 
profit/(loss)
165
2,141
(362)
1,779
(638)
1,306
Post
 
-tax
 
impact
 
of
 
litigation
 
and
 
conduct
25
4
25
29
18
72
Profit/(loss)
 
attributable
 
to
 
ordinary
 
equity
holders
 
of
 
the
 
parent
 
excluding
 
litigation
 
and
conduct
190
2,145
(337)
1,808
(620)
1,378
Return
 
on
 
average
 
tangible
 
shareholders'
equity
£bn
£bn
£bn
£bn
£bn
£bn
Average
 
shareholders'
 
equity
 
13.7
27.2
5.2
32.4
10.5
56.6
Average
 
goodwill
 
and
 
intangibles
(3.5)
-
(0.6)
(0.6)
(4.0)
(8.1)
Average
 
tangible
 
shareholders'
 
equity
 
10.2
27.2
4.6
31.8
6.5
48.5
Return
 
on
 
average
 
tangible
 
shareholders'
equity
 
excluding
 
litigation
 
and
 
conduct
2.5%
10.5%
(9.9%)
7.6%
n/m
3.8%
Basic
 
earnings
 
per
 
ordinary
 
share
Basic
 
weighted
 
average
 
number
 
of
 
shares
 
(m)
17,298
Basic
 
earnings
 
per
 
ordinary
 
share
 
excluding
litigation
 
and
 
conduct
8.0p
Pre
 
-provision
 
profits
Profit
 
before
 
tax
 
excluding
 
credit
 
impairment
charges
 
and
 
litigation
 
and
 
conduct
£m
Profit
 
before
 
tax
2,419
Impact
 
of
 
credit
 
impairment
 
charges
4,346
Profit
 
before
 
tax
 
excluding
 
credit
 
impairment
charges
6,765
Impact
 
of
 
litigation
 
and
 
conduct
106
Profit
 
before
 
tax
 
excluding
 
credit
 
impairment
charges
 
and
 
litigation
 
and
 
conduct
6,871
 
 
Q320EX991P31I0.JPG
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Appendix:
 
Non-IFRS
 
Performance
 
Measures
 
 
 
 
 
45
 
 
Nine
 
months
 
ended
 
30.09.19
Barclays
 
UK
Corporate
 
and
Investment
Bank
Consumer,
Cards
 
and
Payments
Barclays
International
Head
 
Office
Barclays
Group
Cost:
 
income
 
ratio
£m
£m
£m
£m
£m
£m
Total
 
operating
 
expenses
(4,497)
(5,221)
(1,732)
(6,953)
(283)
(11,733)
Impact
 
of
 
litigation
 
and
 
conduct
1,524
30
-
30
128
1,682
Operating
 
expenses
 
(2,973)
(5,191)
(1,732)
(6,923)
(155)
(10,051)
Total
 
income
5,394
7,917
3,306
11,223
(286)
16,331
Cost:
 
income
 
ratio
 
excluding
 
litigation
 
and
conduct
55%
66%
52%
62%
n/m
62%
Profit
 
before
 
tax
Profit/(loss)
 
before
 
tax
375
2,596
882
3,478
(593)
3,260
Impact
 
of
 
litigation
 
and
 
conduct
1,524
30
-
30
128
1,682
Profit/(loss)
 
before
 
tax
 
excluding
 
litigation
 
and
conduct
1,899
2,626
882
3,508
(465)
4,942
Profit
 
attributable
 
to
 
ordinary
 
equity
 
holders
 
of
the
 
parent
Attributable
 
(loss)/profit
(157)
1,787
632
2,419
(482)
1,780
Post
 
-tax
 
impact
 
of
 
litigation
 
and
 
conduct
1,489
26
-
26
96
1,611
Profit/(loss)
 
attributable
 
to
 
ordinary
 
equity
holders
 
of
 
the
 
parent
 
excluding
 
litigation
 
and
conduct
1,332
1,813
632
2,445
(386)
3,391
Return
 
on
 
average
 
tangible
 
shareholders'
equity
£bn
£bn
£bn
£bn
£bn
£bn
Average
 
shareholders'
 
equity
 
13.9
25.9
6.4
32.3
8.4
54.6
Average
 
goodwill
 
and
 
intangibles
(3.5)
-
(1.1)
(1.1)
(3.4)
(8.0)
Average
 
tangible
 
shareholders'
 
equity
 
10.4
25.9
5.3
31.2
5.0
46.6
Return
 
on
 
average
 
tangible
 
shareholders'
equity
 
excluding
 
litigation
 
and
 
conduct
17.2%
9.3%
15.8%
10.4%
n/m
9.7%
Basic
 
earnings
 
per
 
ordinary
 
share
Basic
 
weighted
 
average
 
number
 
of
 
shares
 
(m)
17,192
Basic
 
earnings
 
per
 
ordinary
 
share
 
excluding
litigation
 
and
 
conduct
19.7p
Pre
 
-provision
 
profits
Profit
 
before
 
tax
 
excluding
 
credit
 
impairment
charges
 
and
 
litigation
 
and
 
conduct
£m
Profit
 
before
 
tax
3,260
Impact
 
of
 
credit
 
impairment
 
charges
1,389
Profit
 
before
 
tax
 
excluding
 
credit
 
impairment
charges
4,649
Impact
 
of
 
litigation
 
and
 
conduct
1,682
Profit
 
before
 
tax
 
excluding
 
credit
 
impairment
charges
 
and
 
litigation
 
and
 
conduct
6,331
 
 
Q320EX991P31I0.JPG
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Appendix:
 
Non-IFRS
 
Performance
 
Measures
 
 
 
 
 
46
 
 
Barclays
 
Group
Q320
Q220
Q120
Q419
Q319
Q219
Q119
Q418
Cost:
 
income
 
ratio
£m
£m
£m
£m
£m
£m
£m
£m
Total
 
operating
 
expenses
(3,467)
(3,330)
(3,263)
(3,701)
(4,861)
(3,554)
(3,318)
(4,093)
Impact
 
of
 
litigation
 
and
 
conduct
76
20
10
167
1,568
53
61
60
Operating
 
expenses
(3,391)
(3,310)
(3,253)
(3,534)
(3,293)
(3,501)
(3,257)
(4,033)
Total
 
income
5,204
5,338
6,283
5,301
5,541
5,538
5,252
5,073
Cost:
 
income
 
ratio
 
excluding
 
litigation
 
and
conduct
65%
62%
52%
67%
59%
63%
62%
79%
Profit
 
before
 
tax
Profit
 
before
 
tax
1,147
359
913
1,097
246
1,531
1,483
374
Impact
 
of
 
litigation
 
and
 
conduct
76
20
10
167
1,568
53
61
60
Profit
 
before
 
tax
 
excluding
 
litigation
 
and
conduct
1,223
379
923
1,264
1,814
1,584
1,544
434
Profit
 
attributable
 
to
 
ordinary
 
equity
 
holders
of
 
the
 
parent
Attributable
 
profit/(loss)
611
90
605
681
(292)
1,034
1,038
(14)
Post
 
-tax
 
impact
 
of
 
litigation
 
and
 
conduct
57
16
(1)
122
1,525
40
46
62
Profit
 
attributable
 
to
 
ordinary
 
equity
 
holders
of
 
the
 
parent
 
excluding
 
litigation
 
and
 
conduct
668
106
604
803
1,233
1,074
1,084
48
Return
 
on
 
average
 
tangible
 
shareholders'
equity
£bn
£bn
£bn
£bn
£bn
£bn
£bn
£bn
Average
 
shareholders'
 
equity
56.4
58.4
55.2
54.5
56.4
54.0
53.2
52.2
Average
 
goodwill
 
and
 
intangibles
(8.1)
(8.2)
(8.2)
(8.1)
(8.0)
(7.8)
(8.0)
(7.9)
Average
 
tangible
 
shareholders'
 
equity
 
48.3
50.2
47.0
46.4
48.4
46.2
45.2
44.3
Return
 
on
 
average
 
tangible
 
shareholders'
equity
 
excluding
 
litigation
 
and
 
conduct
5.5%
0.8%
5.1%
6.9%
10.2%
9.3%
9.6%
0.4%
Basic
 
earnings
 
per
 
ordinary
 
share
Basic
 
weighted
 
average
 
number
 
of
 
shares
 
(m)
17,298
17,294
17,278
17,200
17,192
17,178
17,111
17,075
Basic
 
earnings
 
per
 
ordinary
 
share
 
excluding
litigation
 
and
 
conduct
3.9p
0.6p
3.5p
4.7p
7.2p
6.3p
6.3p
0.3p
Pre
 
-provision
 
profits
 
Profit
 
before
 
tax
 
excluding
 
credit
 
impairment
charges
 
and
 
litigation
 
and
 
conduct
Q320
Q220
Q120
Q419
Q319
Q219
Q119
Q418
£m
£m
£m
£m
£m
£m
£m
£m
Profit
 
before
 
tax
1,147
359
913
1,097
246
1,531
1,483
374
Impact
 
of
 
credit
 
impairment
 
charges
608
1,623
2,115
523
461
480
448
643
Profit
 
before
 
tax
 
excluding
 
credit
 
impairment
charges
1,755
1,982
3,028
1,620
707
2,011
1,931
1,017
Impact
 
of
 
litigation
 
and
 
conduct
76
20
10
167
1,568
53
61
60
Profit
 
before
 
tax
 
excluding
 
credit
 
impairment
charges
 
and
 
litigation
 
and
 
conduct
1,831
2,002
3,038
1,787
2,275
2,064
1,992
1,077
 
 
Q320EX991P31I0.JPG
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Appendix:
 
Non-IFRS
 
Performance
 
Measures
 
 
 
 
 
47
 
 
Barclays
 
UK
Q320
Q220
Q120
Q419
Q319
Q219
Q119
Q418
Cost:
 
income
 
ratio
£m
£m
£m
£m
£m
£m
£m
£m
Total
 
operating
 
expenses
(1,120)
(1,024)
(1,028)
(1,122)
(2,432)
(1,063)
(1,002)
(1,175)
Impact
 
of
 
litigation
 
and
 
conduct
25
6
5
58
1,480
41
3
15
Operating
 
expenses
(1,095)
(1,018)
(1,023)
(1,064)
(952)
(1,022)
(999)
(1,160)
Total
 
income
1,550
1,467
1,704
1,959
1,846
1,771
1,777
1,863
Cost:
 
income
 
ratio
 
excluding
 
litigation
 
and
conduct
71%
69%
60%
54%
52%
58%
56%
62%
Profit
 
before
 
tax
Profit/(loss)
 
before
 
tax
196
(127)
195
647
(687)
477
585
390
Impact
 
of
 
litigation
 
and
 
conduct
25
6
5
58
1,480
41
3
15
Profit/(loss)
 
before
 
tax
 
excluding
 
litigation
 
and
conduct
221
(121)
200
705
793
518
588
405
Profit
 
attributable
 
to
 
ordinary
 
equity
 
holders
of
 
the
 
parent
Attributable
 
profit/(loss)
113
(123)
175
438
(907)
328
422
241
Post
 
-tax
 
impact
 
of
 
litigation
 
and
 
conduct
17
5
3
43
1,457
30
2
12
Profit/(loss)
 
attributable
 
to
 
ordinary
 
equity
holders
 
of
 
the
 
parent
 
excluding
 
litigation
 
and
conduct
130
(118)
178
481
550
358
424
253
Return
 
on
 
average
 
allocated
 
tangible
 
equity
£bn
£bn
£bn
£bn
£bn
£bn
£bn
£bn
Average
 
allocated
 
equity
 
13.7
13.9
13.7
13.8
13.9
13.8
13.9
13.6
Average
 
goodwill
 
and
 
intangibles
(3.6)
(3.6)
(3.6)
(3.5)
(3.5)
(3.5)
(3.5)
(3.5)
Average
 
allocated
 
tangible
 
equity
 
10.1
10.3
10.1
10.3
10.4
10.3
10.4
10.1
Return
 
on
 
average
 
allocated
 
tangible
 
equity
excluding
 
litigation
 
and
 
conduct
5.2%
(4.6%)
7.0%
18.7%
21.2%
13.9%
16.4%
10.1%
 
 
Q320EX991P31I0.JPG
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Appendix:
 
Non-IFRS
 
Performance
 
Measures
 
 
 
 
 
48
 
 
Barclays
 
International
Q320
Q220
Q120
Q419
Q319
Q219
Q119
Q418
Cost:
 
income
 
ratio
£m
£m
£m
£m
£m
£m
£m
£m
Total
 
operating
 
expenses
(2,255)
(2,197)
(2,219)
(2,500)
(2,282)
(2,446)
(2,225)
(2,684)
Impact
 
of
 
litigation
 
and
 
conduct
28
11
-
86
-
11
19
33
Operating
 
expenses
(2,227)
(2,186)
(2,219)
(2,414)
(2,282)
(2,435)
(2,206)
(2,651)
Total
 
income
3,781
4,010
4,644
3,452
3,750
3,903
3,570
3,221
Cost:
 
income
 
ratio
 
excluding
 
litigation
 
and
conduct
59%
55%
48%
70%
61%
62%
62%
82%
Profit
 
before
 
tax
Profit
 
before
 
tax
1,165
807
822
640
1,137
1,223
1,118
215
Impact
 
of
 
litigation
 
and
 
conduct
28
11
-
86
-
11
19
33
Profit
 
before
 
tax
 
excluding
 
litigation
 
and
 
conduct
1,193
818
822
726
1,137
1,234
1,137
248
Profit
 
attributable
 
to
 
ordinary
 
equity
 
holders
 
of
the
 
parent
Attributable
 
profit/(loss)
782
468
529
397
799
832
788
(21)
Post
 
-tax
 
impact
 
of
 
litigation
 
and
 
conduct
21
8
-
64
2
8
16
34
Profit
 
attributable
 
to
 
ordinary
 
equity
 
holders
 
of
the
 
parent
 
excluding
 
litigation
 
and
 
conduct
803
476
529
461
801
840
804
13
Return
 
on
 
average
 
allocated
 
tangible
 
equity
£bn
£bn
£bn
£bn
£bn
£bn
£bn
£bn
Average
 
allocated
 
equity
 
31.2
34.2
31.9
31.9
33.3
32.1
31.6
32.4
Average
 
goodwill
 
and
 
intangibles
(0.6)
(0.7)
(0.7)
(1.0)
(1.1)
(1.0)
(1.1)
(1.1)
Average
 
allocated
 
tangible
 
equity
 
30.6
33.5
31.2
30.9
32.2
31.1
30.5
31.3
Return
 
on
 
average
 
allocated
 
tangible
 
equity
excluding
 
litigation
 
and
 
conduct
10.5%
5.7%
6.8%
6.0%
10.0%
10.8%
10.6%
0.2%
 
 
Q320EX991P31I0.JPG
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Appendix:
 
Non-IFRS
 
Performance
 
Measures
 
 
 
 
 
49
 
 
Corporate
 
and
 
Investment
 
Bank
Q320
Q220
Q120
Q419
Q319
Q219
Q119
Q418
Cost:
 
income
 
ratio
£m
£m
£m
£m
£m
£m
£m
£m
Total
 
operating
 
expenses
(1,719)
(1,683)
(1,690)
(1,926)
(1,716)
(1,867)
(1,638)
(2,046)
Impact
 
of
 
litigation
 
and
 
conduct
3
3
-
79
4
7
19
23
Operating
 
expenses
(1,716)
(1,680)
(1,690)
(1,847)
(1,712)
(1,860)
(1,619)
(2,023)
Total
 
income
2,905
3,316
3,617
2,314
2,617
2,795
2,505
2,151
Cost:
 
income
 
ratio
 
excluding
 
litigation
 
and
conduct
59%
51%
47%
80%
65%
67%
65%
94%
Profit
 
before
 
tax
Profit
 
before
 
tax
1,000
1,040
1,203
359
882
887
827
85
Impact
 
of
 
litigation
 
and
 
conduct
3
3
-
79
4
7
19
23
Profit
 
before
 
tax
 
excluding
 
litigation
 
and
 
conduct
1,003
1,043
1,203
438
886
894
846
108
Profit
 
attributable
 
to
 
ordinary
 
equity
 
holders
 
of
the
 
parent
Attributable
 
profit/(loss)
627
694
820
193
609
596
582
(84)
Post
 
-tax
 
impact
 
of
 
litigation
 
and
 
conduct
2
2
-
58
5
5
16
27
Profit/(loss)
 
attributable
 
to
 
ordinary
 
equity
holders
 
of
 
the
 
parent
 
excluding
 
litigation
 
and
conduct
629
696
820
251
614
601
598
(57)
Return
 
on
 
average
 
allocated
 
tangible
 
equity
£bn
£bn
£bn
£bn
£bn
£bn
£bn
£bn
Average
 
allocated
 
equity
26.4
29.1
26.2
25.9
26.9
25.8
25.2
26.0
Average
 
goodwill
 
and
 
intangibles
-
(0.1)
-
(0.1)
-
-
(0.1)
-
Average
 
allocated
 
tangible
 
equity
26.4
29.0
26.2
25.8
26.9
25.8
25.1
26.0
Return
 
on
 
average
 
allocated
 
tangible
 
equity
excluding
 
litigation
 
and
 
conduct
9.5%
9.6%
12.5%
3.9%
9.2%
9.3%
9.5%
(0.9%)
 
 
Q320EX991P31I0.JPG
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Appendix:
 
Non-IFRS
 
Performance
 
Measures
 
 
 
 
 
50
 
 
Consumer,
 
Cards
 
and
 
Payments
Q320
Q220
Q120
Q419
Q319
Q219
Q119
Q418
Cost:
 
income
 
ratio
£m
£m
£m
£m
£m
£m
£m
£m
Total
 
operating
 
expenses
(536)
(514)
(529)
(574)
(566)
(579)
(587)
(638)
Impact
 
of
 
litigation
 
and
 
conduct
25
8
-
7
(4)
4
-
10
Operating
 
expenses
(511)
(506)
(529)
(567)
(570)
(575)
(587)
(628)
Total
 
income
876
694
1,027
1,138
1,133
1,108
1,065
1,070
Cost:
 
income
 
ratio
 
excluding
 
litigation
 
and
conduct
58%
73%
52%
50%
50%
52%
55%
59%
Profit
 
before
 
tax
Profit/(loss)
 
before
 
tax
165
(233)
(381)
281
255
336
291
130
Impact
 
of
 
litigation
 
and
 
conduct
25
8
-
7
(4)
4
-
10
Profit/(loss)
 
before
 
tax
 
excluding
 
litigation
 
and
conduct
190
(225)
(381)
288
251
340
291
140
Profit
 
attributable
 
to
 
ordinary
 
equity
 
holders
 
of
the
 
parent
Attributable
 
profit/(loss)
155
(226)
(291)
204
190
236
206
63
Post
 
-tax
 
impact
 
of
 
litigation
 
and
 
conduct
19
6
-
6
(3)
3
-
7
Profit/(loss)
 
attributable
 
to
 
ordinary
 
equity
holders
 
of
 
the
 
parent
 
excluding
 
litigation
 
and
conduct
174
(220)
(291)
210
187
239
206
70
Return
 
on
 
average
 
allocated
 
tangible
 
equity
£bn
£bn
£bn
£bn
£bn
£bn
£bn
£bn
Average
 
allocated
 
equity
4.8
5.1
5.7
6.0
6.4
6.3
6.4
6.4
Average
 
goodwill
 
and
 
intangibles
(0.6)
(0.6)
(0.7)
(0.9)
(1.1)
(1.0)
(1.0)
(1.1)
Average
 
allocated
 
tangible
 
equity
4.2
4.5
5.0
5.1
5.3
5.3
5.4
5.3
Return
 
on
 
average
 
allocated
 
tangible
 
equity
excluding
 
litigation
 
and
 
conduct
16.5%
(19.6%)
(23.5%)
16.3%
14.0%
18.0%
15.4%
5.4%
 
 
Q320EX991P31I0.JPG
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Appendix:
 
Non-IFRS
 
Performance
 
Measures
 
 
 
 
 
51
 
 
Head
 
Office
Q320
Q220
Q120
Q419
Q319
Q219
Q119
Q418
Profit
 
before
 
tax
£m
£m
£m
£m
£m
£m
£m
£m
Loss
 
before
 
tax
(214)
(321)
(104)
(190)
(204)
(169)
(220)
(231)
Impact
 
of
 
litigation
 
and
 
conduct
23
3
5
23
88
1
39
12
Loss
 
before
 
tax
 
excluding
 
litigation
 
and
 
conduct
(191)
(318)
(99)
(167)
(116)
(168)
(181)
(219)
Profit
 
attributable
 
to
 
ordinary
 
equity
 
holders
 
of
the
 
parent
Attributable
 
loss
(284)
(255)
(99)
(154)
(184)
(126)
(172)
(234)
Post
 
-tax
 
impact
 
of
 
litigation
 
and
 
conduct
19
3
(4)
15
66
2
28
16
Attributable
 
loss
 
excluding
 
litigation
 
and
 
conduct
(265)
(252)
(103)
(139)
(118)
(124)
(144)
(218)
 
 
Tangible
 
net
 
asset
 
value
 
per
 
share
As
 
at
As
 
at
As
 
at
30.09.20
31.12.19
30.09.19
£m
£m
£m
Total
 
equity
 
excluding
 
non-controlling
 
interests
67,816
64,429
66,197
Other
 
equity
 
instruments
(12,012)
(10,871)
(10,860)
Shareholders'
 
equity
 
attributable
 
to
 
ordinary
 
shareholders
 
of
 
the
 
parent
55,804
53,558
55,337
Goodwill
 
and
 
intangibles
(8,163)
(8,119)
(8,068)
Tangible
 
shareholders'
 
equity
 
attributable
 
to
 
ordinary
 
shareholders
 
of
 
the
 
parent
47,641
45,439
47,269
m
m
m
Shares
 
in
 
issue
17,353
17,322
17,269
p
p
p
Net
 
asset
 
value
 
per
 
share
 
322
 
309
 
322
Tangible
 
net
 
asset
 
value
 
per
 
share
 
275
 
262
 
274
 
 
Q320EX991P31I0.JPG
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Appendix:
 
Non-IFRS
 
Performance
 
Measures
 
 
 
 
 
52
 
 
Profit/(loss)
 
attributable
 
to
 
ordinary
equity
 
holders
 
of
 
the
 
parent
Q320
YTD
Q319
YTD
Q320
Q220
Q120
Q419
Q319
Q219
Q119
Q418
£m
£m
£m
£m
£m
£m
£m
£m
£m
£m
Barclays
 
UK
165
(157)
113
(123)
175
438
(907)
328
422
241
Corporate
 
and
 
Investment
 
Bank
2,141
1,787
627
694
820
193
609
596
582
(84)
Consumer,
 
Cards
 
and
 
Payments
(362)
632
155
(226)
(291)
204
190
236
206
63
Barclays
 
International
1,779
2,419
782
468
529
397
799
832
788
(21)
Head
 
Office
(638)
(482)
(284)
(255)
(99)
(154)
(184)
(126)
(172)
(234)
Barclays
 
Group
1,306
1,780
611
90
605
681
(292)
1,034
1,038
(14)
Average
 
equity
Q320
YTD
Q319
YTD
Q320
Q220
Q120
Q419
Q319
Q219
Q119
Q418
£bn
£bn
£bn
£bn
£bn
£bn
£bn
£bn
£bn
£bn
Barclays
 
UK
13.7
13.9
13.7
13.9
13.7
13.8
13.9
13.8
13.9
13.6
Corporate
 
and
 
Investment
 
Bank
27.2
25.9
26.4
29.1
26.2
25.9
26.9
25.8
25.2
26.0
Consumer,
 
Cards
 
and
 
Payments
5.2
6.4
4.8
5.1
5.7
6.0
6.4
6.3
6.4
6.4
Barclays
 
International
32.4
32.3
31.2
34.2
31.9
31.9
33.3
32.1
31.6
32.4
Head
 
Office
10.5
8.4
11.5
10.3
9.6
8.8
9.2
8.1
7.7
6.2
Barclays
 
Group
56.6
54.6
56.4
58.4
55.2
54.5
56.4
54.0
53.2
52.2
Return
 
on
 
average
 
equity
Q320
YTD
Q319
YTD
Q320
Q220
Q120
Q419
Q319
Q219
Q119
Q418
%
%
%
%
%
%
%
%
%
%
Barclays
 
UK
1.6%
(1.5%)
3.3%
(3.6%)
5.1%
12.7%
(26.1%)
9.5%
12.2%
7.1%
Corporate
 
and
 
Investment
 
Bank
10.5%
9.2%
9.5%
9.5%
12.5%
3.0%
9.1%
9.2%
9.3%
(1.3%)
Consumer,
 
Cards
 
and
 
Payments
(9.3%)
13.2%
12.9%
(17.7%)
(20.7%)
13.6%
11.8%
14.9%
12.8%
3.9%
Barclays
 
International
7.3%
10.0%
10.0%
5.5%
6.6%
5.0%
9.6%
10.3%
10.0%
(0.3%)
Head
 
Office
n/m
n/m
n/m
n/m
n/m
n/m
n/m
n/m
n/m
n/m
Barclays
 
Group
3.1%
4.3%
4.3%
0.6%
4.4%
5.0%
(2.1%)
7.6%
7.8%
(0.1%)
 
 
Q320EX991P31I0.JPG
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Shareholder
 
Information
 
 
 
 
 
 
53
 
 
Results
 
timetable
1
Date
2020
 
Full
 
Year
 
Results
 
and
 
Annual
 
Report
25
 
February
 
2021
 
%
 
Change
3
Exchange
 
rates
2
30.09.20
30.06.20
30.09.19
30.06.20
30.09.19
Period
 
end
 
-
 
USD/GBP
1.29
1.24
1.23
4%
5%
YTD
 
average
 
-
 
USD/GBP
1.27
1.26
1.27
1%
-
3
 
month
 
average
 
-
 
USD/GBP
1.29
1.24
1.23
4%
5%
Period
 
end
 
-
 
EUR/GBP
1.10
1.10
1.13
-
(3%)
YTD
 
average
 
-
 
EUR/GBP
1.13
1.14
1.13
(1%)
-
3
 
month
 
average
 
-
 
EUR/GBP
1.11
1.13
1.11
(2%)
-
Share
 
price
 
data
Barclays
 
PLC
 
(p)
97.61
114.42
150.40
Barclays
 
PLC
 
number
 
of
 
shares
 
(m)
17,353
17,345
17,269
For
 
further
 
information
 
please
 
contact
Investor
 
relations
Media
 
relations
Chris
 
Manners
 
+44
 
(0)
 
20
 
7773
 
2136
Tom
 
Hoskin
 
+44
 
(0)
 
20
 
7116
 
4755
More
 
information
 
on
 
Barclays
 
can
 
be
 
found
 
on
 
our
 
website:
 
home.barclays.
Registered
 
office
1
 
Churchill
 
Place,
 
London,
 
E14
 
5HP,
 
United
 
Kingdom.
 
Tel:
 
+44
 
(0)
 
20
 
7116
 
1000.
 
Company
 
number:
 
48839.
Registrar
Equiniti,
 
Aspect
 
House,
 
Spencer
 
Road,
 
Lancing,
 
West
 
Sussex,
 
BN99
 
6DA,
 
United
 
Kingdom.
 
Tel:
 
0371
 
384
 
2055
4
 
from
 
the
 
UK
 
or
 
+44
 
121
 
415
 
7004
 
from
 
overseas.
American
 
Depositary
 
Receipts
 
(ADRs)
J.P.Morgan
 
Chase
 
Bank,
 
N.A
StockTransfer@equiniti.com
Tel:
 
+1
 
800
 
990
 
1135
 
(toll
 
free
 
in
 
US
 
and
 
Canada),
 
+1
 
651
 
453
 
2128
 
(outside
 
the
 
US
 
and
 
Canada)
 
or
 
+1
 
866
 
700
 
1652
 
(for
 
the
 
hearing
impaired).
J.P.Morgan
 
Chase
 
Bank
 
N.A.,
 
Shareowner
 
Services,
 
PO
 
Box
 
64504,
 
St
 
Paul,
 
MN
 
55164-0504,
 
USA.
Delivery
 
of
 
ADR
 
certificates
 
and
 
overnight
 
mail
J.P.Morgan
 
Chase
 
Bank
 
N.A.,
 
Shareowner
 
Services,
 
1110
 
Centre
 
Pointe
 
Curve,
 
Suite
 
101,
 
Mendota
 
Heights,
 
MN
 
55120,
 
USA.
 
1
 
Note
 
that
 
these
 
dates
 
are
 
provisional
 
and
 
subject
 
to
 
change.
2
 
The
 
average
 
rates
 
shown
 
above
 
are
 
derived
 
from
 
daily
 
spot
 
rates
 
during
 
the
 
year.
3
 
The
 
change
 
is
 
the
 
impact
 
to
 
GBP
 
reported
 
information.
4
 
Lines
 
open
 
8.30am
 
to
 
5.30pm
 
(UK
 
time),
 
Monday
 
to
 
Friday,
 
excluding
 
UK
 
public
 
holidays
 
in
 
England
 
and
 
Wales.
 
 
Q320EX991P31I0.JPG
Glossary
 
of
 
Terms
 
 
 
 
 
54
 
 
‘A
 
-IRB’
 
/
 
‘Advanced
 
-Internal
 
Ratings
 
Based’
 
See
 
‘Internal
 
Ratings
 
Based
 
(IRB)’.
 
‘Acceptances
 
and
 
endorsements’
 
An
 
acceptance
 
is
 
an
 
undertaking
 
by
 
a
 
bank
 
to
 
pay
 
a
 
bill
 
of
 
exchange
 
drawn
 
on
 
a
 
customer.
 
The
Barclays
 
Group
 
expects
 
most
 
acceptances
 
to
 
be
 
presented,
 
but
 
reimbursement
 
by
 
the
 
customer
 
is
 
normally
 
immediate.
Endorsements
 
are
 
residual
 
liabilities
 
of
 
the
 
Barclays
 
Group
 
in
 
respect
 
of
 
bills
 
of
 
exchange
 
which
 
have
 
been
 
paid
 
and
 
subsequently
rediscounted.
 
‘Additional
 
Tier
 
1
 
(AT1)
 
capital’
 
AT1
 
capital
 
largely
 
comprises
 
eligible
 
non-common
 
equity
 
capital
 
securities
 
and
 
any
 
related
 
share
 
premium.
 
‘Additional
 
Tier
 
1
 
(AT1)
 
securities’
 
Non-common
 
equity
 
securities
 
that
 
are
 
eligible
 
as
 
AT1
 
capital.
 
 
‘Advanced
 
Measurement
 
Approach
 
(AMA)’
 
Under
 
the
 
AMA,
 
banks
 
are
 
allowed
 
to
 
develop
 
their
 
own
 
empirical
 
model
 
to
 
quantify
required
 
capital
 
for
 
operational
 
risk.
 
Banks
 
can
 
only
 
use
 
this
 
approach
 
subject
 
to
 
approval
 
from
 
their
 
local
 
regulators.
 
‘Agencies’
 
Bonds
 
issued
 
by
 
state
 
and
 
/
 
or
 
governmen
 
t
 
agencies
 
or
 
government
 
-
 
sponsored
 
entities.
 
‘Agency
 
Mortgage
 
-Backed
 
Securities’
 
Mortgage
 
-Backed
 
Securities
 
issued
 
by
 
government
 
-sponsored
 
entities.
 
‘All
 
price
 
risk
 
(APR)’
An
 
estimate
 
of
 
all
 
the
 
material
 
market
 
risks,
 
including
 
rating
 
migration
 
and
 
defaul
 
t
 
for
 
the
 
correlation
 
trading
portfolio.
‘American
 
Depository
 
Receipts
 
(ADR)’
A
 
negotiable
 
certificate
 
that
 
represents
 
the
 
ownership
 
of
 
shares
 
in
 
a
 
non-US
 
company
 
(for
example
 
Barclays)
 
trading
 
in
 
US
 
financial
 
markets.
 
‘Americas’
 
Geographic
 
segment
 
comprising
 
the
 
US,
 
Canada
 
and
 
countries
 
where
 
Barclays
 
operates
 
within
 
Latin
 
America.
‘Annual
 
Earnings
 
at
 
Risk
 
(AEaR)’
 
A
 
measure
 
of
 
the
 
potential
 
change
 
in
 
Net
 
Interest
 
Income
 
(NII)
 
due
 
to
 
an
 
interest
 
rate
 
movement
over
 
a
 
one-year
 
period.
‘Annualised
 
cumulative
 
weighted
 
average
 
lifetime
 
PD’
 
The
 
probability
 
of
 
default
 
over
 
the
 
remaining
 
life
 
of
 
the
 
asset,
 
expressed
 
as
an
 
annual
 
rate,
 
reflecting
 
a
 
range
 
of
 
possible
 
economic
 
scenarios.
‘Application
 
scorecards’
Algorithm
 
based
 
decision
 
tools
 
used
 
to
 
aid
 
business
 
decisions
 
and
 
manage
 
credit
 
risk
 
based
 
on
 
available
customer
 
data
 
at
 
the
 
point
 
of
 
application
 
for
 
a
 
product.
 
‘Arrears’
 
Customers
 
are
 
said
 
to
 
be
 
in
 
arrears
 
when
 
they
 
are
 
behind
 
in
 
fulfilling
 
their
 
obligations
 
with
 
the
 
result
 
that
 
an
 
outstanding
loan
 
is
 
unpaid
 
or
 
overdue.
 
Such
 
customers
 
are
 
also
 
said
 
to
 
be
 
in
 
a
 
state
 
of
 
delinquency.
 
When
 
a
 
customer
 
is
 
in
 
arrears,
 
their
 
entire
outstanding
 
balance
 
is
 
said
 
to
 
be
 
delinquent,
 
meaning
 
that
 
delinquent
 
balances
 
are
 
the
 
total
 
outstanding
 
loans
 
on
 
which
 
payments
are
 
overdue.
 
‘Asia’
 
Geographic
 
segment
 
comprising
 
countries
 
where
 
Barclays
 
operates
 
within
 
Asia
 
and
 
the
 
Middle
 
East.
 
‘Asset
 
Backed
 
Commercial
 
Paper’
 
Typically
 
short-term
 
notes
 
secured
 
on
 
specified
 
assets
 
issued
 
by
 
consolidated
 
special
 
purpose
entities
 
for
 
funding
 
purposes.
 
‘Asset
 
Backed
 
Securities
 
(ABS)’
 
Securities
 
that
 
represent
 
an
 
interest
 
in
 
an
 
underlying
 
pool
 
of
 
referenced
 
assets.
 
The
 
referenced
 
pool
can
 
comprise
 
any
 
assets
 
which
 
attract
 
a
 
set
 
of
 
associated
 
cash
 
flows
 
but
 
are
 
commonly
 
pools
 
of
 
residential
 
or
 
commercial
mortgages
 
and,
 
in
 
the
 
case
 
of
 
Collateralised
 
Debt
 
Obligations
 
(CDOs),
 
the
 
referenced
 
pool
 
may
 
be
 
ABS
 
or
 
other
 
classes
 
of
 
assets.
 
‘Attributable
 
profit’
 
Profit
 
after
 
tax
 
that
 
is
 
attributable
 
to
 
ordinary
 
equity
 
holders
 
of
 
Barclays
 
adjusted
 
for
 
the
 
after
 
tax
 
amounts
 
of
capital
 
securities
 
classified
 
as
 
equity.
 
‘Average
 
allocated
 
tangible
 
equity’
Calculated
 
as
 
the
 
average
 
of
 
the
 
previous
 
month’s
 
period
 
end
 
allocated
 
tangible
 
equity
 
and
 
the
current
 
month’s
 
period
 
end
 
allocated
 
tangible
 
equity.
 
The
 
average
 
allocated
 
tangible
 
equity
 
for
 
the
 
period
 
is
 
the
 
average
 
of
 
the
monthly
 
averages
 
within
 
that
 
period.
 
‘Average
 
tangible
 
shareholders’
 
equity’
Calculated
 
as
 
the
 
average
 
of
 
the
 
previous
 
month’s
 
period
 
end
 
tangible
 
equity
 
and
 
the
current
 
month’s
 
period
 
end
 
tangible
 
equity.
 
The
 
average
 
tangible
 
shareholders’
 
equity
 
for
 
the
 
period
 
is
 
the
 
average
 
of
 
the
 
monthly
averages
 
within
 
that
 
period.
 
‘Average
 
UK
 
leverage
 
ratio’
 
As
 
per
 
the
 
PRA
 
rulebook,
 
is
 
calculated
 
as
 
the
 
average
 
capital
 
measure
 
based
 
on
 
the
 
last
 
day
 
of
 
each
month
 
in
 
the
 
quarter
 
divided
 
by
 
the
 
average
 
exposure
 
measure
 
for
 
the
 
quarter,
 
where
 
the
 
average
 
exposure
 
is
 
based
 
on
 
each
 
day
in
 
the
 
quarter.
 
‘Back
 
testing’
Includes
 
a
 
number
 
of
 
techniques
 
that
 
assess
 
the
 
continued
 
statistical
 
validity
 
of
 
a
 
model
 
by
 
simulating
 
how
 
the
 
model
would
 
have
 
predicted
 
recent
 
experience.
‘Barclays
 
Africa’
 
or
 
‘Absa’
 
or
 
‘Absa
 
Group
 
Limited’
Barclays
 
Africa
 
Group
 
Limited
 
(now
 
Absa
 
Group
 
Limited),
 
which
 
was
 
previously
 
a
subsidiary
 
of
 
the
 
Barclays
 
Group.
 
Following
 
a
 
sell
 
down
 
of
 
shares
 
resulting
 
in
 
a
 
loss
 
of
 
control,
 
the
 
Barclays
 
Group’s
 
shareholding
 
in
Absa
 
Group
 
Limited
 
is
 
now
 
classified
 
as
 
a
 
financial
 
asset
 
at
 
fair
 
value
 
through
 
other
 
comprehensive
 
income.
‘Balance
 
weighted
 
Loan
 
to
 
Value
 
(LTV)
 
ratio’
 
In
 
the
 
context
 
of
 
the
 
credit
 
risk
 
disclosures
 
on
 
secured
 
home
 
loans,
 
a
 
means
 
of
calculating
 
marked
 
to
 
market
 
LTVs
 
derived
 
by
 
calculating
 
individual
 
LTVs
 
at
 
account
 
level
 
and
 
weighting
 
it
 
by
 
the
 
balances
 
to
 
arrive
 
 
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55
 
 
at
 
the
 
average
 
position.
 
Balance
 
weighted
 
loan
 
to
 
value
 
is
 
calculated
 
using
 
the
 
following
 
formula:
 
LTV
 
=
 
((loan
 
balance
 
1
 
x
 
MTM
LTV%
 
for
 
loan
 
1)
 
+
 
(loan
 
balance
 
2
 
x
 
MTM
 
LTV%
 
for
 
loan
 
2)
 
+
 
...)
 
/
 
total
 
outstandings
 
in
 
portfolio.
‘Barclaycard’
 
An
 
international
 
consumer
 
payments
 
business
 
serving
 
the
 
needs
 
of
 
businesses
 
and
 
consumers
 
through
 
credit
 
cards,
consumer
 
lending,
 
merchant
 
acquiring,
 
commercial
 
cards
 
and
 
point
 
of
 
sale
 
finance.
 
Barclaycard
 
has
 
scaled
 
operations
 
in
 
the
 
UK,
 
US,
Germany
 
and
 
Scandinavia.
 
‘Barclaycard
 
Consumer
 
UK’
 
The
 
UK
 
Barclaycard
 
business.
‘Barclays’
 
or
 
’Barclays
 
Group’
 
Barclays
 
PLC,
 
together
 
with
 
its
 
subsidiaries.
 
‘Barclays
 
Bank
 
Group’
 
Barclays
 
Bank
 
PLC,
 
together
 
with
 
its
 
subsidiaries.
 
‘Barclays
 
Bank
 
UK
 
Group’
 
Barclays
 
Bank
 
UK
 
PLC,
 
together
 
with
 
its
 
subsidiaries.
 
‘Barclays
 
Operating
 
businesses’
The
 
core
 
Barclays
 
businesses
 
operated
 
by
 
Barclays
 
UK
 
(which
 
include
 
the
 
UK
 
Personal
 
banking;
 
UK
business
 
banking
 
and
 
the
 
Barclaycard
 
consumer
 
UK
 
businesses)
 
and
 
Barclays
 
Internati
 
onal
 
(the
 
large
 
UK
 
Corporate
 
business;
 
the
international
 
Corporate
 
and
 
Private
 
Bank
 
businesses;
 
the
 
Investment
 
Bank;
 
the
 
international
 
Barclaycard
 
business;
 
and
 
payments).
‘Barclays
 
Execution
 
Services’
 
or
 
‘BX’
 
or
 
‘BSerL’
 
or
 
‘Group
 
Service
 
Company’
Barclays
 
Execution
 
Services
 
Limited,
 
the
 
Group
 
services
company
 
set
 
up
 
to
 
provide
 
services
 
to
 
Barclays
 
UK
 
and
 
Barclays
 
International
 
to
 
deliver
 
operational
 
continuity.
 
‘Barclays
 
International’
The
 
segment
 
of
 
Barclays
 
held
 
by
 
Barclays
 
Bank
 
PLC.
 
The
 
division
 
includes
 
the
 
large
 
UK
 
Corporate
 
business;
the
 
international
 
Corporate
 
and
 
Private
 
Bank
 
businesses;
 
the
 
Investment
 
Bank;
 
the
 
international
 
Barclaycard
 
business;
 
and
payments.
‘Barclays
 
UK’
The
 
segment
 
of
 
Barclays
 
held
 
by
 
Barclays
 
Bank
 
UK
 
PLC.
 
The
 
division
 
includes
 
the
 
UK
 
Personal
 
banking;
 
UK
 
business
banking
 
and
 
the
 
Barclaycard
 
consumer
 
UK
 
businesses.
 
Following
 
a
 
transfer
 
from
 
Barclays
 
International
 
in
 
Q2
 
2020,
 
this
 
also
includes
 
Barclays
 
Partner
 
Finance
 
(BPF).
‘Basel
 
3’
 
The
 
third
 
of
 
the
 
Basel
 
Acco
 
rds,
 
setting
 
minimum
 
requirements
 
and
 
standards
 
that
 
apply
 
to
 
internationally
 
active
 
banks.
 
Basel
 
3
 
is
 
a
 
set
 
of
 
measures
 
developed
 
by
 
the
 
Basel
 
Committee
 
on
 
Banking
 
Supervision
 
aiming
 
to
 
strengthen
 
the
 
regulation,
supervision
 
and
 
risk
 
management
 
of
 
banks.
‘Basel
 
Committee
 
of
 
Banking
 
Supervision
 
(BCBS)’
 
or
 
‘The
 
Basel
 
Committee’
 
A
 
forum
 
for
 
regular
 
cooperation
 
on
 
banking
 
supervisory
matters
 
which
 
develops
 
global
 
supervisory
 
standards
 
for
 
the
 
banking
 
industry.
 
Its
 
45
 
members
 
are
 
officials
 
from
 
central
 
banks
 
or
prudential
 
supervisors
 
from
 
28
 
jurisdictions.
 
‘Basic
 
Indicator
 
Approach
 
(BIA)’
Under
 
the
 
BIA,
 
banks
 
are
 
required
 
to
 
hold
 
regulatory
 
capital
 
for
 
operational
 
risk
 
equal
 
to
 
15%
 
of
 
the
annual
 
average,
 
calculated
 
over
 
a
 
rolling
 
three-year
 
period,
 
of
 
the
 
relevant
 
income
 
indicator
 
for
 
the
 
bank
 
as
 
whole.
‘Basis
 
point(s)’
 
/
 
‘bp(s)’
 
One
 
hundredth
 
of
 
a
 
per
 
cent
 
(0.01%);
 
100
 
basis
 
points
 
is
 
1%.
 
The
 
measure
 
is
 
used
 
in
 
quoting
 
movements
 
in
interest
 
rates,
 
yields
 
on
 
securities
 
and
 
for
 
other
 
purposes.
 
‘Basis
 
risk’
 
Index/Tenor
 
risk,
 
that
 
arises
 
when
 
floating
 
rate
 
products
 
are
 
linked
 
to
 
different
 
interest
 
rate
 
indices,
 
which
 
are
imperfectly
 
correlated,
 
especially
 
under
 
stressed
 
market
 
conditions.
‘Behavioural
 
scorecards’
Algorithm
 
based
 
decision
 
tools
 
used
 
to
 
aid
 
business
 
decisions
 
and
 
manage
 
credit
 
risk
 
based
 
on
 
existing
customer
 
data
 
derived
 
from
 
account
 
usage.
‘Book
 
quality’
In
 
the
 
context
 
of
 
the
 
Capital
 
Risk
 
section,
 
changes
 
in
 
RWAs
 
caused
 
by
 
factors
 
such
 
as
 
underlying
 
customer
 
behaviour
or
 
demographics
 
leading
 
to
 
changes
 
in
 
risk
 
profile.
‘Book
 
size’
In
 
the
 
context
 
of
 
the
 
Capital
 
Risk
 
section
,
 
changes
 
in
 
RWAs
 
driven
 
by
 
business
 
activity,
 
including
 
net
 
originations
 
or
repayments
 
.
 
‘Bounce
 
Back
 
Loan
 
Scheme
 
(BBLS)’
A
 
government
 
(British
 
Business
 
Bank)
 
backed
 
loan
 
scheme
 
which
 
allows
 
small
 
and
 
medium-
 
sized
businesses
 
to
 
borrow
 
between
 
£2,000
 
and
 
£50,000.
 
The
 
UK
 
government
 
guarantees
 
100%
 
of
 
the
 
loan
 
and
 
pays
 
the
 
first
 
12
 
months
of
 
interest
 
on
 
behalf
 
of
 
the
 
borrowers,
 
subject
 
to
 
terms
 
and
 
conditions.
‘Business
 
Banking’
 
Offers
 
specialist
 
advice,
 
products
 
and
 
services
 
to
 
small
 
and
 
medium
 
enterprises
 
in
 
the
 
UK.
‘Business
 
Lending’
Business
 
Lending
 
in
 
Barclays
 
UK
 
that
 
primarily
 
relates
 
to
 
small
 
and
 
medium
 
enterprises
 
typically
 
with
 
a
 
turnover
up
 
to
 
£16m.
 
‘Business
 
scenario
 
stresses’
 
Multi
 
asset
 
scenario
 
analysis
 
of
 
extreme,
 
but
 
plausible
 
events
 
that
 
may
 
impact
 
the
 
market
 
risk
exposures
 
of
 
the
 
Investment
 
Bank.
 
‘Buy
 
to
 
let
 
mortgage’
A
 
mortgage
 
where
 
the
 
intention
 
of
 
the
 
customer
 
(investor)
 
was
 
to
 
let
 
the
 
property
 
at
 
origination.
‘Capital
 
Conservation
 
Buffer
 
(CCB)’
A
 
capital
 
buffer
 
of
 
2.5%
 
of
 
a
 
bank’s
 
total
 
exposures
 
that
 
needs
 
to
 
be
 
met
 
with
 
an
 
additional
amount
 
of
 
Common
 
Equity
 
Tier
 
1
 
capital
 
above
 
the
 
4.5%
 
minimum
 
requirement
 
for
 
Common
 
Equity
 
Tier
 
1
 
set
 
out
 
in
 
CRR.
 
Its
objective
 
is
 
to
 
conserve
 
a
 
bank’s
 
capital
 
by
 
ensuring
 
that
 
banks
 
build
 
up
 
surplus
 
capital
 
outside
 
periods
 
of
 
stress
 
which
 
can
 
be
drawn
 
down
 
if
 
losses
 
are
 
incurred.
 
 
 
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‘Capital
 
ratios’
 
Key
 
financial
 
ratios
 
measuring
 
the
 
Bank's
 
capital
 
adequacy
 
or
 
financial
 
strength
 
expressed
 
as
 
a
 
percentage
 
of
 
RWAs.
 
‘Capital
 
Requirements
 
Directive
 
(CRD)’
Directive
 
2013/36/EU,
 
a
 
component
 
of
 
the
 
CRD
 
IV
 
package
 
which
 
accompanies
 
the
 
Capital
Requirements
 
Regulation
 
and
 
sets
 
out
 
macroprudential
 
standards
 
including
 
the
 
countercyclical
 
capital
 
buffer
 
and
 
capital
 
buffers
 
for
systemically
 
important
 
institutions.
 
Directive
 
(EU)
 
2019/878,
 
published
 
as
 
part
 
of
 
the
 
EU
 
Risk
 
Reduction
 
Measure
 
package
 
amends
CRD.
 
These
 
amendments
 
entered
 
into
 
force
 
from
 
27
 
June
 
2019,
 
with
 
EU
 
member
 
states
 
required
 
to
 
adopt
 
the
 
measures
 
within
 
the
Directive
 
by
 
28
 
December
 
2020.
 
‘Capital
 
Requirements
 
Regulation
 
(CRR)’
Regulation
 
(EU)
 
No
 
575/2013,
 
a
 
component
 
of
 
the
 
CRD
 
IV
 
package
 
which
 
accompanies
 
the
Capital
 
Requirements
 
Directive
 
and
 
sets
 
out
 
detailed
 
rules
 
for
 
capital
 
eligibility,
 
the
 
calculation
 
of
 
RWAs,
 
the
 
measurement
 
of
leverage,
 
the
 
management
 
of
 
large
 
exposures
 
and
 
minimum
 
sta
 
ndards
 
for
 
liquidity.
 
Between
 
27
 
June
 
2019
 
and
 
28
 
June
 
2023,
 
this
regulation
 
will
 
be
 
amended
 
in
 
line
 
with
 
the
 
requirements
 
of
 
amending
 
Regulation
 
(EU)
 
2019/876
 
(CRR
 
II).
 
‘Capital
 
Requirements
 
Regulation
 
II
 
(CRR
 
II)’
Regulation
 
(EU)
 
2019/876,
 
amending
 
Regulation
 
(EU)
 
No
 
575/2013
 
(CRR).
 
This
 
is
 
a
component
 
of
 
the
 
EU
 
Risk
 
Reduction
 
Measure
 
package.
 
The
 
requirements
 
set
 
out
 
in
 
CRR
 
II
 
will
 
be
 
introduced
 
between
 
27
 
June
2019
 
and
 
28
 
June
 
2023.
‘Capital
 
requirements
 
on
 
the
 
underlying
 
exposures
 
(KIRB)’
An
 
approach
 
available
 
to
 
banks
 
when
 
calculating
 
RWAs
 
for
 
securitisation
exposures.
 
This
 
is
 
based
 
upon
 
the
 
RWA
 
amounts
 
that
 
would
 
be
 
calculated
 
under
 
the
 
IRB
 
approach
 
for
 
the
 
underlying
 
pool
 
of
securitised
 
exposures
 
in
 
the
 
program,
 
had
 
such
 
exposures
 
not
 
been
 
securitised.
‘Capital
 
resources’
 
Common
 
Equity
 
Tier
 
1,
 
Additional
 
Tier
 
1
 
and
 
Tier
 
2
 
capital
 
that
 
are
 
eligible
 
to
 
satisfy
 
capital
 
requirements
 
under
CRD.
 
Referred
 
to
 
as
 
‘own
 
funds’
 
within
 
EU
 
regulatory
 
texts.
 
‘Capital
 
risk’
 
The
 
risk
 
that
 
the
 
Barclays
 
Group
 
has
 
an
 
insufficient
 
level
 
or
 
composition
 
of
 
capital
 
to
 
support
 
its
 
normal
 
business
activities
 
and
 
to
 
meet
 
its
 
regulatory
 
capital
 
requirements
 
under
 
normal
 
operating
 
environments
 
or
 
stressed
 
conditions
 
(both
 
actual
and
 
as
 
defined
 
for
 
internal
 
planning
 
or
 
regulatory
 
testing
 
purposes).
 
This
 
includes
 
the
 
risk
 
from
 
the
 
Barclays
 
Group’s
 
pension
 
plans.
‘Central
 
Counterparty’
 
or
 
‘Central
 
Clearing
 
Counterparties
 
(CCPs)’
 
A
 
clearing
 
house
 
mediating
 
between
 
the
 
buyer
 
and
 
the
 
seller
 
in
 
a
financial
 
transaction,
 
such
 
as
 
a
 
derivative
 
contract
 
or
 
repurchase
 
agreement
 
(repo).
 
Where
 
a
 
central
 
counterparty
 
is
 
used,
 
a
 
single
bi-lateral
 
contract
 
between
 
the
 
buyer
 
and
 
seller
 
is
 
replaced
 
with
 
two
 
contracts
 
,
 
one
 
between
 
the
 
buyer
 
and
 
the
 
CCP
 
and
 
one
between
 
the
 
CCP
 
and
 
the
 
seller.
 
The
 
use
 
of
 
CCPs
 
allows
 
for
 
greater
 
oversight
 
and
 
improved
 
credit
 
risk
 
mitigation
 
in
 
over
 
-the-
counter
 
(OTC)
 
markets.
 
‘Charge
 
-off’
 
In
 
the
 
retail
 
segment
 
this
 
refers
 
to
 
the
 
point
 
in
 
time
 
when
 
collections
 
activity
 
changes
 
from
 
the
 
collection
 
of
 
arrears
 
to
the
 
recovery
 
of
 
the
 
full
 
balance.
 
This
 
is
 
normally
 
when
 
six
 
payments
 
are
 
in
 
arrears.
 
‘Client
 
Assets’
Assets
 
managed
 
or
 
administered
 
by
 
Barclays
 
Group
 
on
 
behalf
 
of
 
clients
 
including
 
assets
 
under
 
management
 
(AUM),
custody
 
assets,
 
assets
 
under
 
administration
 
and
 
client
 
deposits.
‘CLOs
 
and
 
Other
 
insured
 
assets’
 
Highly
 
rated
 
CLO
 
positions
 
wrapped
 
by
 
monolines,
 
non-CLOs
 
wrapped
 
by
 
monolines
 
and
 
other
assets
 
wrapped
 
with
 
Credit
 
Support
 
Annex
 
(CSA)
 
protection.
‘Collateralised
 
Debt
 
Obligation
 
(CDO)’
 
Securities
 
issued
 
by
 
a
 
third
 
party
 
which
 
reference
 
Asset
 
Backed
 
Securities
 
(ABSs)
 
(defined
above)
 
and/or
 
certain
 
other
 
related
 
assets
 
purchased
 
by
 
the
 
issuer.
 
CDOs
 
may
 
feature
 
exposure
 
to
 
sub-prime
 
mortgage
 
assets
through
 
the
 
underlying
 
assets.
 
‘Collateralised
 
Loan
 
Obligation
 
(CLO)’
 
A
 
security
 
backed
 
by
 
the
 
repayments
 
from
 
a
 
pool
 
of
 
commercial
 
loans.
 
The
 
payments
 
may
 
be
made
 
to
 
different
 
classes
 
of
 
owners
 
(in
 
tranches).
 
‘Collateralised
 
Mortgage
 
Obligation
 
(CMO)’
 
A
 
type
 
of
 
security
 
backed
 
by
 
mortgages.
 
A
 
special
 
purpose
 
entity
 
receives
 
income
 
from
the
 
mortgages
 
and
 
passes
 
them
 
on
 
to
 
investors
 
of
 
the
 
security.
‘Combined
 
Buffer
 
Requirement’
In
 
the
 
context
 
of
 
the
 
CRD
 
capital
 
obligations,
 
the
 
combined
 
requirements
 
of
 
the
 
Capital
Conservation
 
Buffer,
 
the
 
GSII
 
Buffer,
 
the
 
OSII
 
buffer,
 
the
 
Systemic
 
Risk
 
buffer
 
and
 
an
 
institution
 
specific
 
counter
 
-cyclical
 
buffer.
‘Commercial
 
paper
 
(CP)’
 
Short-term
 
notes
 
issued
 
by
 
entities,
 
including
 
banks,
 
for
 
funding
 
purposes.
 
‘Commercia
 
l
 
real
 
estate
 
(CRE)’
Commercial
 
real
 
estate
 
includes
 
office
 
buildings,
 
industrial
 
property,
 
medical
 
centres,
 
hotels,
 
retail
stores,
 
shopping
 
centres,
 
farm
 
land,
 
multifamily
 
housing
 
buildings,
 
warehouses,
 
garages,
 
and
 
industrial
 
properties
 
and
 
other
 
similar
properties.
 
Commercial
 
real
 
estate
 
loans
 
are
 
loans
 
backed
 
by
 
a
 
package
 
of
 
commercial
 
real
 
estate.
 
Note:
 
for
 
the
 
purposes
 
of
 
the
Credit
 
Risk
 
section,
 
the
 
UK
 
CRE
 
portfolio
 
includes
 
property
 
investment,
 
development,
 
trading
 
and
 
housebuilders
 
but
 
excludes
 
social
housing
 
contractors.
‘Commissions
 
and
 
other
 
incentives’
 
Includes
 
commission-based
 
arrangements,
 
guaranteed
 
incentives
 
and
 
Long
 
Term
 
Incentive
 
Plan
awards.
 
‘Committee
 
of
 
Sponsoring
 
Organisations
 
of
 
the
 
Treadway
 
Commission
 
Framework
 
(COSO)’
A
 
joint
 
initiative
 
of
 
five
 
private
 
sector
organisations
 
dedicated
 
to
 
the
 
development
 
of
 
frameworks
 
and
 
providing
 
guidance
 
on
 
enterprise
 
risk
 
management,
 
internal
control
 
and
 
fraud
 
deterrence.
 
 
Q320EX991P31I0.JPG
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‘Commodity
 
derivatives’
 
Exchange
 
traded
 
and
 
over
 
-the-counter
 
(OTC)
 
derivatives
 
based
 
on
 
an
 
underlying
 
commodity
 
(e.g.
 
metals,
precious
 
metals,
 
oil
 
and
 
oil
 
related,
 
power
 
and
 
natural
 
gas).
 
‘Commodity
 
risk’
 
Measures
 
the
 
impact
 
of
 
changes
 
in
 
commodity
 
prices
 
and
 
volatilities,
 
including
 
the
 
basis
 
between
 
related
commodities
 
(e.g.
 
Brent
 
vs.
 
WTI
 
crude
 
prices).
 
‘Common
 
Equity
 
Tier
 
1
 
(CET1)
 
capital’
 
The
 
highest
 
quality
 
form
 
of
 
regulatory
 
capital
 
under
 
CRR
 
that
 
comprises
 
common
 
shares
issued
 
and
 
related
 
share
 
premium,
 
retained
 
earnings
 
and
 
other
 
reserves,
 
less
 
specified
 
regulatory
 
adjustments.
‘Common
 
Equity
 
Tier
 
1
 
(CET1)
 
ratio’
 
A
 
measure
 
of
 
Common
 
Equity
 
Tier
 
1
 
capital
 
expressed
 
as
 
a
 
percentage
 
of
 
RWAs.
‘Compensation:
 
income
 
ratio’
The
 
ratio
 
of
 
compensation
 
expense
 
over
 
total
 
income.
 
Compensation
 
represents
 
total
 
staff
 
costs
 
less
non-compensation
 
items
 
consisting
 
of
 
outsourcing,
 
staff
 
training,
 
redundancy
 
costs
 
and
 
retirement
 
costs.
‘
Comprehensive
 
Capital
 
Analysis
 
and
 
Review
 
(CCAR)’
An
 
annual
 
exercise,
 
required
 
by
 
and
 
evaluated
 
by
 
the
 
Federal
 
Reserve,
through
 
which
 
the
 
largest
 
bank
 
holding
 
companies
 
operating
 
in
 
the
 
US
 
assess
 
whether
 
they
 
have
 
sufficient
 
capital
 
to
 
continue
operations
 
through
 
periods
 
of
 
economic
 
and
 
financial
 
stress
 
and
 
have
 
robust
 
capital
 
-planning
 
processes
 
that
 
account
 
for
 
their
unique
 
risks.
‘Comprehensive
 
Risk
 
Measure
 
(CRM)’
An
 
estimate
 
of
 
all
 
the
 
material
 
market
 
risks,
 
including
 
rating
 
migration
 
and
 
default
 
for
 
the
correlation
 
trading
 
portfolio.
 
Also
 
referred
 
to
 
as
 
All
 
Price
 
Risk
 
(APR)
 
and
 
Comprehensive
 
Risk
 
Capital
 
Charge
 
(CRCC).
‘Conduct
 
risk’
 
The
 
risk
 
of
 
detriment
 
to
 
customers,
 
clients,
 
market
 
integrity,
 
competition
 
or
 
Barclays
 
from
 
the
 
inappropriate
 
supply
of
 
financial
 
services,
 
including
 
instances
 
of
 
wilful
 
or
 
negligent
 
misconduct.
‘Constant
 
Currency
 
Basis’
Excluding
 
the
 
impact
 
of
 
foreign
 
currency
 
conversion
 
to
 
GBP
 
when
 
comparing
 
financial
 
results
 
in
 
two
different
 
financial
 
periods.
‘Consumer,
 
Cards
 
and
 
Payments’
Barclays
 
US
 
Consumer
 
Bank,
 
Payments
 
(including
 
merchant
 
acquiring
 
and
 
commercial
 
payments),
Barclaycard
 
Germany
 
and
 
the
 
Private
 
Bank.
 
‘Contingent
 
capital
 
notes
 
(CCNs)’
 
Interest
 
bearing
 
debt
 
securities
 
issued
 
by
 
Barclays
 
Group
 
or
 
its
 
subsidiaries
 
that
 
are
 
either
permanently
 
written
 
off
 
or
 
converted
 
into
 
an
 
equity
 
instrument
 
from
 
the
 
issuer's
 
perspective
 
in
 
the
 
event
 
of
 
the
 
Common
 
Equity
Tier
 
1
 
(CET1)
 
ratio
 
of
 
the
 
relevant
 
Barclays
 
Group
 
entity
 
falling
 
below
 
a
 
specific
 
level,
 
or
 
at
 
the
 
direction
 
of
 
regulators.
 
‘Conversion
 
Trigger’
Used
 
in
 
the
 
context
 
of
 
Contingent
 
Capital
 
Notes
 
and
 
AT1
 
securities.
 
A
 
capital
 
adequacy
 
trigger
 
event
 
occurs
when
 
the
 
CET1
 
ratio
 
of
 
the
 
bank
 
falls
 
below
 
a
 
certain
 
level
 
(the
 
trigger)
 
as
 
defined
 
in
 
the
 
Terms
 
&
 
Conditions
 
of
 
the
 
instruments
issued.
 
See
 
‘Contingent
 
capital
 
notes’.
‘Coronavirus
 
Business
 
Interruption
 
Loan
 
Scheme
 
(CBILS)’
A
 
loan
 
scheme
 
by
 
the
 
British
 
Business
 
Bank
 
(BBB)
 
to
 
support
 
UK
 
based
small
 
and
 
medium-sized
 
businesses
 
(turnover
 
of
 
up
 
to
 
£45
 
million)
 
adversely
 
impacted
 
by
 
COVID
 
-19.
 
The
 
CBILS
 
scheme
 
provides
loans
 
up
 
to
 
£5
 
million
 
which
 
are
 
backed
 
by
 
an
 
80%
 
government
 
(BBB)
 
guarantee.
 
The
 
UK
 
government
 
will
 
pay
 
interest
 
and
 
fees
 
for
the
 
first
 
12
 
months
 
on
 
behalf
 
of
 
the
 
borrowers,
 
subject
 
to
 
terms
 
and
 
conditions.
 
Coronavirus
 
Large
 
Business
 
Interruption
 
Loan
 
Scheme
 
(CLBILS)’
A
 
loan
 
scheme
 
by
 
the
 
British
 
Business
 
Bank
 
(BBB)
 
to
 
support
 
UK
based
 
medium-sized
 
businesses
 
(turnover
 
above
 
£45
 
million,
 
but
 
with
 
no
 
access
 
to
 
CCFF)
 
adversely
 
impacted
 
by
 
COVID
 
-19,
 
The
CBILS
 
scheme
 
provides
 
loans
 
up
 
to
 
£50
 
million
 
which
 
are
 
backed
 
by
 
an
 
80%
 
government
 
(BBB)
 
guarantee.
 
‘Corporate
 
and
 
Investment
 
Bank
 
(CIB)’
Barclays
 
Corporate
 
and
 
Investment
 
Bank
 
businesses
 
which
 
form
 
part
 
of
 
Barclays
International.
 
‘Correlation
 
risk’
 
Refers
 
to
 
the
 
change
 
in
 
marked
 
to
 
market
 
value
 
of
 
a
 
security
 
when
 
the
 
correlation
 
between
 
the
 
underlying
 
assets
changes
 
over
 
time.
‘Cost
 
of
 
Equity’
 
The
 
rate
 
of
 
return
 
targeted
 
by
 
the
 
equity
 
holders
 
of
 
a
 
company.
 
‘Cost:
 
income
 
jaws’
 
Relationship
 
of
 
the
 
percentage
 
change
 
movement
 
in
 
operating
 
expenses
 
relative
 
to
 
total
 
income.
‘Cost:
 
income
 
ratio’
 
Total
 
operating
 
expenses
 
divided
 
by
 
total
 
income.
 
‘Countercyclical
 
Capital
 
Buffer
 
(CCyB)’
An
 
additional
 
buffer
 
introduced
 
as
 
part
 
of
 
the
 
CRD
 
IV
 
package
 
that
 
requires
 
banks
 
to
 
have
 
an
additional
 
cushion
 
of
 
CET
 
1
 
capital
 
with
 
which
 
to
 
absorb
 
potential
 
losses,
 
enhancing
 
their
 
resilience
 
and
 
contributing
 
to
 
a
 
stable
financial
 
system.
 
‘Countercyclical
 
leverage
 
ratio
 
buffer
 
(CCLB)’
A
 
macroprudential
 
buffer
 
that
 
has
 
applied
 
to
 
specific
 
PRA
 
regulated
 
institutions
 
since
2018
 
and
 
is
 
calculated
 
at
 
35%
 
of
 
any
 
risk
 
weighted
 
countercyclical
 
capital
 
buffer
 
set
 
by
 
the
 
Financial
 
Policy
 
Committee
 
(FPC).
 
The
CCLB
 
applies
 
in
 
addition
 
to
 
the
 
minimum
 
of
 
3.25%
 
and
 
any
 
G-SII
 
additional
 
Leverage
 
Ratio
 
Buffer
 
that
 
applies.
‘Counterparty
 
credit
 
risk’
 
The
 
risk
 
related
 
to
 
a
 
counterparty
 
defaulting
 
before
 
the
 
final
 
settlement
 
of
 
a
 
transaction’s
 
cash
 
flows.
 
In
the
 
context
 
of
 
RWAs,
 
a
 
component
 
of
 
RWAs
 
that
 
represents
 
the
 
risk
 
of
 
loss
 
in
 
derivatives,
 
repurchase
 
agreements
 
and
 
similar
transactions
 
resulting
 
from
 
the
 
default
 
of
 
the
 
counterparty.
‘Coverage
 
ratio’
 
This
 
represents
 
the
 
percentage
 
of
 
impairment
 
allowance
 
reserve
 
against
 
the
 
gross
 
exposure.
 
 
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‘Covered
 
bonds’
 
Debt
 
securities
 
backed
 
by
 
a
 
portfolio
 
of
 
mortgages
 
that
 
are
 
segregated
 
from
 
the
 
issuer’s
 
other
 
assets
 
solely
 
for
 
the
benefit
 
of
 
the
 
holders
 
of
 
the
 
covered
 
bonds.
 
‘Covid
 
Corporate
 
Finance
 
Facility
 
(CCFF)’:
 
Bank
 
of
 
England
 
(BOE)
 
scheme
 
to
 
support
 
liquidity
 
among
 
larger
 
investment
 
grade
 
firms
which
 
make
 
a
 
material
 
UK
 
contribution,
 
helping
 
to
 
bridge
 
coronavirus
 
disruption
 
to
 
their
 
cash
 
flows.
 
The
 
Bank
 
of
 
England
 
provides
liquidity
 
by
 
purchasing
 
short-term
 
debt
 
in
 
the
 
form
 
of
 
commercial
 
paper
 
from
 
corporates.
 
Barclays
 
acts
 
as
 
dealer.
‘CRD
 
IV’
The
 
Fourth
 
Capital
 
Requirements
 
Directive,
 
an
 
EU
 
Directive
 
and
 
an
 
accompanying
 
Regulation
 
(CRR)
 
that
 
together
 
prescribe
EU
 
capital
 
adequacy
 
and
 
liquidity
 
requirements
 
and
 
implements
 
Basel
 
3
 
in
 
the
 
European
 
Union.
‘CRD
 
V’
The
 
Fifth
 
Capital
 
Requirements
 
Directive,
 
comprising
 
an
 
EU
 
amending
 
Directive
 
and
 
an
 
accompanying
 
amending
 
Regulation
(CRR
 
II)
 
that
 
together
 
prescribe
 
EU
 
capital
 
adequacy
 
and
 
liquidity
 
requirements
 
and
 
implements
 
enhanced
 
Basel
 
3
 
proposals
 
in
 
the
European
 
Union.
 
‘Credit
 
conversion
 
factor
 
(CCF)’
Factor
 
used
 
to
 
estimate
 
the
 
risk
 
from
 
off
 
-balance
 
sheet
 
commitments
 
for
 
the
 
purpose
 
of
 
calculating
the
 
total
 
Exposure
 
at
 
Default
 
(EAD)
 
used
 
to
 
calculate
 
RWAs.
‘Credit
 
default
 
swaps
 
(CDS)’
 
A
 
contract
 
under
 
which
 
the
 
protection
 
seller
 
receives
 
premiums
 
or
 
interest
 
-related
 
payments
 
in
 
return
for
 
contracting
 
to
 
make
 
payments
 
to
 
the
 
protection
 
buyer
 
in
 
the
 
event
 
of
 
a
 
defined
 
credit
 
event.
 
Credit
 
events
 
normally
 
include
bankruptcy,
 
payment
 
default
 
on
 
a
 
reference
 
asset
 
or
 
assets,
 
or
 
downgrades
 
by
 
a
 
rating
 
agency.
 
‘Credit
 
derivatives
 
(CDs)’
 
An
 
arrangement
 
whereby
 
the
 
credit
 
risk
 
of
 
an
 
asset
 
(the
 
reference
 
asset)
 
is
 
transferred
 
from
 
the
 
buyer
 
to
the
 
seller
 
of
 
the
 
protection.
 
‘Credit
 
impairment
 
charges’
 
Also
 
known
 
as
 
‘credit
 
impairment’.
 
Impairment
 
charges
 
on
 
loans
 
and
 
advances
 
to
 
customers
 
and
 
banks
and
 
impairment
 
charges
 
on
 
fair
 
value
 
through
 
other
 
comprehensive
 
income
 
assets
 
and
 
reverse
 
repurchase
 
agreements.
 
‘Credit
 
market
 
exposures’
 
Assets
 
and
 
other
 
instruments
 
relating
 
to
 
commercial
 
real
 
estate
 
and
 
leveraged
 
finance
 
businesses
 
that
have
 
been
 
significantly
 
impacted
 
by
 
the
 
deterioration
 
in
 
the
 
global
 
credit
 
markets.
 
The
 
exposures
 
include
 
positions
 
subject
 
to
 
fair
value
 
movements
 
in
 
the
 
Income
 
Statement,
 
positions
 
that
 
are
 
classified
 
as
 
loans
 
and
 
advances
 
and
 
available
 
for
 
sale
 
and
 
other
assets.
‘Credit
 
quality
 
step’
 
In
 
the
 
context
 
of
 
the
 
Standardised
 
Approach
 
to
 
calculating
 
credit
 
risk
 
RWAs,
 
a
 
“credit
 
quality
 
assessment
 
scale”
maps
 
the
 
credit
 
assessments
 
of
 
a
 
recognised
 
credit
 
rating
 
agency
 
or
 
export
 
credit
 
agency
 
to
 
credit
 
quality
 
steps
 
that
 
determine
 
the
risk
 
weight
 
to
 
be
 
applied
 
to
 
an
 
exposure.
 
‘Credit
 
rating’
An
 
evaluation
 
of
 
the
 
creditworthiness
 
of
 
an
 
entity
 
seeking
 
to
 
enter
 
into
 
a
 
credit
 
agreement.
 
‘Credit
 
risk’
 
The
 
risk
 
of
 
loss
 
to
 
Barclays
 
from
 
the
 
failure
 
of
 
clients,
 
customers
 
or
 
counterparties,
 
including
 
sovereigns,
 
to
 
fully
 
honour
their
 
obligations
 
to
 
Barclays,
 
including
 
the
 
whole
 
and
 
timely
 
payment
 
of
 
principal,
 
interest,
 
coll
 
ateral
 
and
 
other
 
receivables.
 
In
 
the
context
 
of
 
RWAs,
 
it
 
is
 
the
 
component
 
of
 
RWAs
 
that
 
represents
 
the
 
risk
 
of
 
loss
 
in
 
loans
 
and
 
advances
 
and
 
similar
 
transactions
resulting
 
from
 
the
 
default
 
of
 
the
 
counterparty.
‘Credit
 
risk
 
mitigation’
 
A
 
range
 
of
 
techniques
 
and
 
strategies
 
to
 
actively
 
mitigate
 
credit
 
risks
 
to
 
which
 
the
 
bank
 
is
 
exposed.
 
These
 
can
be
 
broadly
 
divided
 
into
 
three
 
types;
 
collateral,
 
netting
 
and
 
set-off,
 
and
 
risk
 
transfer.
 
‘Credit
 
spread’
 
The
 
premium
 
over
 
the
 
benchmark
 
or
 
risk-free
 
rate
 
required
 
by
 
the
 
market
 
to
 
accept
 
a
 
lower
 
credit
 
quality.
 
‘Credit
 
Valuation
 
Adjustment
 
(CVA)’
 
The
 
difference
 
between
 
the
 
risk-free
 
value
 
of
 
a
 
portfolio
 
of
 
trades
 
and
 
the
 
market
 
value
 
which
takes
 
into
 
account
 
the
 
counterparty’s
 
risk
 
of
 
default.
 
The
 
CVA
 
therefore
 
represents
 
an
 
estimate
 
of
 
the
 
adjustment
 
to
 
fair
 
value
 
that
a
 
market
 
participant
 
would
 
make
 
to
 
incorporate
 
the
 
credit
 
risk
 
of
 
the
 
counterparty
 
due
 
to
 
any
 
failure
 
to
 
perform
 
on
 
contractual
agreements.
 
‘CRR
 
leverage
 
exposure’
 
Is
 
calculated
 
in
 
accordance
 
with
 
article
 
429
 
as
 
per
 
the
 
CRR.
‘CRR
 
leverage
 
ratio’
Is
 
calculated
 
using
 
the
 
CRR
 
definition
 
of
 
Tier
 
1
 
capital
 
for
 
the
 
numerator
 
and
 
the
 
CRR
 
definition
 
of
 
leverage
exposure
 
as
 
the
 
denominator.
 
‘Customer
 
assets’
 
Represents
 
loans
 
and
 
advances
 
to
 
customers.
 
Average
 
balances
 
are
 
calculated
 
as
 
the
 
sum
 
of
 
all
 
daily
 
balances
 
for
the
 
year
 
to
 
date
 
divided
 
by
 
number
 
of
 
days
 
in
 
the
 
year
 
to
 
date.
 
‘Customer
 
deposits’
 
In
 
the
 
context
 
of
 
the
 
Liquidity
 
Risk
 
section,
 
money
 
deposited
 
by
 
all
 
individuals
 
and
 
comp
 
anies
 
that
 
are
 
not
credit
 
institutions.
 
Such
 
funds
 
are
 
recorded
 
as
 
liabilities
 
in
 
the
 
Barclays
 
Group’s
 
balance
 
sheet
 
under
 
deposits
 
at
 
amortised
 
cost.
 
‘Customer
 
liabilities’
 
See
 
‘Customer
 
deposits’.
 
 
‘Daily
 
Value
 
at
 
Risk
 
(DVaR)’
 
An
 
estimate
 
of
 
the
 
potent
 
ial
 
loss
 
which
 
might
 
arise
 
from
 
market
 
movements
 
under
 
normal
 
market
conditions,
 
if
 
the
 
current
 
positions
 
were
 
to
 
be
 
held
 
unchanged
 
for
 
one
 
business
 
day,
 
measured
 
to
 
a
 
specified
 
confidence
 
level.
 
‘DBRS’
 
A
 
credit
 
rating
 
agency.
 
‘Debit
 
Valuation
 
Adjustment
 
(DVA)’
 
The
 
opposite
 
of
 
Credit
 
Valuation
 
Adjustment
 
(CVA).
 
It
 
is
 
the
 
difference
 
between
 
the
 
risk-free
value
 
of
 
a
 
portfolio
 
of
 
trades
 
and
 
the
 
market
 
value
 
which
 
takes
 
into
 
account
 
the
 
Barclays
 
Group’s
 
risk
 
of
 
default.
 
The
 
DVA,
 
 
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therefore,
 
represent
 
s
 
an
 
estimate
 
of
 
the
 
adjustment
 
to
 
fair
 
value
 
that
 
a
 
market
 
participant
 
would
 
make
 
to
 
incorporate
 
the
 
credit
risk
 
of
 
the
 
Barclays
 
Group
 
due
 
to
 
any
 
failure
 
to
 
perform
 
on
 
contractual
 
obligations.
 
The
 
DVA
 
decreases
 
the
 
value
 
of
 
a
 
liability
 
to
take
 
into
 
accoun
 
t
 
a
 
reduction
 
in
 
the
 
remaining
 
balance
 
that
 
would
 
be
 
settled
 
should
 
the
 
Barclays
 
Group
 
default
 
or
 
not
 
perform
 
any
contractual
 
obligations.
 
‘Debt
 
buybacks’
 
Purchases
 
of
 
the
 
Barclays
 
Group’s
 
issued
 
debt
 
securities,
 
including
 
equity
 
accounted
 
instruments,
 
leading
 
to
 
their
de-recognition
 
from
 
the
 
balance
 
sheet.
 
‘Debt
 
securities
 
in
 
issue’
 
Transferable
 
securities
 
evidencing
 
indebtedness
 
of
 
the
 
Barclays
 
Group.
 
These
 
are
 
liabilities
 
of
 
the
 
Barclays
Group
 
and
 
include
 
certificates
 
of
 
deposit
 
and
 
commercial
 
paper.
 
‘Default
 
grades’
 
Barclays
 
Group
 
classify
 
ranges
 
of
 
default
 
probabilities
 
into
 
a
 
set
 
of
 
21
 
intervals
 
called
 
default
 
grades,
 
in
 
order
 
to
distinguish
 
differences
 
in
 
the
 
probability
 
of
 
default
 
risk.
‘Default
 
fund
 
contributions’
 
The
 
amount
 
of
 
contribution
 
made
 
by
 
members
 
of
 
a
 
central
 
counterparty
 
(CCP).
 
All
 
members
 
are
required
 
to
 
contribute
 
to
 
this
 
fund
 
in
 
advance
 
of
 
using
 
a
 
CCP.
 
The
 
default
 
fund
 
can
 
be
 
used
 
by
 
the
 
CCP
 
to
 
cover
 
losses
 
incurred
 
by
the
 
CCP
 
where
 
losses
 
are
 
greater
 
than
 
the
 
margins
 
provided
 
by
 
that
 
member.
 
‘Derivatives
 
netting’
 
Adjustments
 
applied
 
across
 
asset
 
and
 
liability
 
mark-to
 
-market
 
derivative
 
positions
 
pursuant
 
to
 
legally
enforceable
 
bilateral
 
netting
 
agreements
 
and
 
eligible
 
cash
 
collateral
 
received
 
in
 
derivative
 
transactions
 
that
 
meet
 
the
 
requirements
of
 
BCBS
 
270.
‘Diversification
 
effect’
 
Reflects
 
the
 
fact
 
the
 
risk
 
of
 
a
 
diversified
 
portfolio
 
is
 
smaller
 
than
 
the
 
sum
 
of
 
the
 
risks
 
of
 
its
 
constituent
 
parts.
It
 
is
 
measured
 
as
 
the
 
sum
 
of
 
the
 
individual
 
asset
 
class
 
DVaR
 
estimates
 
less
 
the
 
total
 
DVaR.
 
‘Dodd-Frank
 
Act
 
(DFA)’
 
The
 
US
 
Dodd-Frank
 
Wall
 
Street
 
Reform
 
and
 
Consumer
 
Protection
 
Act
 
of
 
2010.
 
‘Economic
 
Value
 
of
 
Equity
 
(EVE)’
 
A
 
measure
 
of
 
the
 
potential
 
change
 
in
 
value
 
of
 
expected
 
future
 
cash
 
flows
 
due
 
to
 
an
 
adverse
interest
 
rate
 
movement,
 
based
 
on
 
existing
 
balance
 
sheet
 
run-off
 
profile.
'Effective
 
Expected
 
Positive
 
Exposure
 
(EEPE)'
 
The
 
weighted
 
average
 
over
 
time
 
of
 
effective
 
expected
 
exposure.
 
The
 
weights
 
are
 
the
proportion
 
that
 
an
 
individual
 
exposure
 
represents
 
of
 
the
 
entire
 
exposure
 
horizon
 
time
 
interval.
‘Eligible
 
liabilities’
Liabilities
 
and
 
capital
 
instruments
 
that
 
are
 
eligible
 
to
 
meet
 
MREL
 
that
 
do
 
not
 
already
 
qualify
 
as
 
own
 
funds.
 
‘Encumbrance’
The
 
use
 
of
 
assets
 
to
 
secure
 
liabilities,
 
such
 
as
 
by
 
way
 
of
 
a
 
lien
 
or
 
charge.
 
‘Enterprise
 
Risk
 
Management
 
Fra
 
mework
 
(ERMF)’
 
Barclays
 
Group
 
risk
 
management
 
responsibilities
 
are
 
laid
 
out
 
in
 
the
 
Enterprise
Risk
 
Management
 
Framework,
 
which
 
describes
 
how
 
Barclays
 
identifies
 
and
 
manages
 
risk.
 
The
 
framework
 
identifies
 
the
 
principal
risks
 
faced
 
by
 
the
 
Barclays
 
Group;
 
set
 
s
 
out
 
risk
 
appetite
 
requirements;
 
sets
 
out
 
roles
 
and
 
responsibilities
 
for
 
risk
 
management;
 
and
sets
 
out
 
risk
 
committee
 
structure.
‘Equities’
 
Trading
 
businesses
 
encompassing
 
Cash
 
Equities,
 
Equity
 
Derivatives
 
&
 
Equity
 
Financing
‘Equity
 
and
 
stock
 
index
 
derivatives’
 
Derivatives
 
whose
 
value
 
is
 
derived
 
from
 
equity
 
securities.
 
This
 
category
 
includes
 
equity
 
and
stock
 
index
 
swaps
 
and
 
options
 
(including
 
warrants,
 
which
 
are
 
equity
 
options
 
listed
 
on
 
an
 
exchange).
 
The
 
Barclays
 
Group
 
also
 
enters
into
 
fund-linked
 
derivatives,
 
being
 
swaps
 
and
 
options
 
whose
 
underlyings
 
include
 
mutual
 
funds,
 
hedge
 
funds,
 
indices
 
and
 
multi-
asset
 
portfolios.
 
An
 
equity
 
swap
 
is
 
an
 
agreement
 
between
 
two
 
parties
 
to
 
exchange
 
periodic
 
payments,
 
based
 
upon
 
a
 
notional
principal
 
amount,
 
with
 
one
 
side
 
paying
 
fixed
 
or
 
floating
 
interest
 
and
 
the
 
other
 
side
 
paying
 
based
 
on
 
the
 
actual
 
return
 
of
 
the
 
stock
 
or
stock
 
index.
 
An
 
equity
 
option
 
provides
 
the
 
buyer
 
with
 
the
 
right,
 
but
 
not
 
the
 
obligation,
 
either
 
to
 
purchase
 
or
 
sell
 
a
 
specified
 
stock,
basket
 
of
 
stocks
 
or
 
stock
 
index
 
at
 
a
 
specified
 
price
 
or
 
level
 
on
 
or
 
before
 
a
 
specified
 
date.
 
‘Equity
 
risk’
 
In
 
the
 
context
 
of
 
trading
 
book
 
capital
 
requirements,
 
the
 
risk
 
of
 
change
 
in
 
market
 
value
 
of
 
an
 
equity
 
investment.
 
‘Equity
 
structural
 
hedge’
 
An
 
interest
 
rate
 
hedge
 
in
 
place
 
to
 
reduce
 
earnings
 
volatility
 
of
 
the
 
overnight
 
/
 
short
 
term
 
equity
investment
 
and
 
to
 
smoothen
 
the
 
income
 
over
 
a
 
medium/long
 
term.
 
‘EU
 
Risk
 
Reduction
 
Measure
 
package’
A
 
collection
 
of
 
amending
 
Regulations
 
and
 
Directives
 
that
 
update
 
core
 
EU
 
regulatory
 
texts
 
and
which
 
came
 
into
 
force
 
on
 
27
 
June
 
2019.
‘Euro
 
Interbank
 
Offered
 
Rate
 
(EURIBOR)’
 
A
 
benchmark
 
interest
 
rate
 
at
 
which
 
banks
 
can
 
borrow
 
funds
 
from
 
other
 
banks
 
in
 
the
European
 
interbank
 
market.
 
‘Europe’
 
Geographic
 
segment
 
co
 
mprising
 
countries
 
in
 
which
 
Barclays
 
operates
 
within
 
the
 
EU
 
(excluding
 
UK),
 
Northern
 
Continental
and
 
Eastern
 
Europe.
 
‘European
 
Banking
 
Authority
 
(EBA)’
 
The
 
European
 
Banking
 
Authority
 
(EBA)
 
is
 
an
 
independent
 
EU
 
Authority
 
which
 
works
 
to
 
ensure
effective
 
and
 
consistent
 
prudential
 
regulation
 
and
 
supervision
 
across
 
the
 
European
 
banking
 
sector.
 
Its
 
overall
 
objectives
 
are
 
to
maintain
 
financial
 
stability
 
in
 
the
 
EU
 
and
 
to
 
safeguard
 
the
 
integrity,
 
efficiency
 
and
 
orderly
 
functioning
 
of
 
the
 
banking
 
sector.
‘European
 
Securities
 
and
 
Markets
 
Authority
 
(ESMA)’
An
 
independent
 
European
 
Supervisory
 
Authority
 
with
 
the
 
remit
 
of
 
enhancing
the
 
protection
 
of
 
investors
 
and
 
reinforcing
 
stable
 
and
 
well-functioning
 
financial
 
markets
 
in
 
the
 
European
 
Union.
 
 
 
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‘Eurozone’
Represents
 
the
 
19
 
European
 
Union
 
countries
 
that
 
have
 
adopted
 
the
 
euro
 
as
 
their
 
common
 
currency.
 
The
 
19
 
countries
are
 
Austria,
 
Belgium,
 
Cyprus,
 
Estonia,
 
Finland,
 
France,
 
Germany,
 
Greece,
 
Ireland,
 
Italy,
 
Latvia,
 
Lithuania,
 
Luxembourg,
 
Malta,
Netherlands,
 
Portugal,
 
Slovakia,
 
Slovenia
 
and
 
Spain.
‘Expected
 
Credit
 
Losses
 
(ECL)’
 
A
 
present
 
value
 
measure
 
of
 
the
 
credit
 
losses
 
expected
 
to
 
result
 
from
 
default
 
events
 
that
 
may
 
occur
during
 
a
 
specified
 
period
 
of
 
time.
 
ECLs
 
must
 
reflect
 
the
 
present
 
value
 
of
 
cash
 
shortfalls,
 
and
 
must
 
reflect
 
the
 
unbiased
 
and
probability
 
weighted
 
assessment
 
of
 
a
 
range
 
of
 
outcomes.
 
‘Expected
 
Losses’
 
A
 
regulatory
 
measure
 
of
 
anticipated
 
losses
 
for
 
exposures
 
captured
 
under
 
an
 
internals
 
ratings
 
based
 
credit
 
risk
approach
 
for
 
capital
 
adequacy
 
calculations.
 
It
 
is
 
measured
 
as
 
the
 
Barclays
 
Group's
 
modelled
 
view
 
of
 
anticipated
 
losses
 
based
 
on
Probability
 
of
 
Default
 
(PD),
 
Loss
 
Given
 
Default
 
(LGD)
 
and
 
Exposure
 
at
 
Default
 
(EAD),
 
with
 
a
 
one-year
 
time
 
horizon.
’Expert
 
lender
 
models’
 
Models
 
of
 
risk
 
measures
 
that
 
are
 
used
 
for
 
parts
 
of
 
the
 
portfolio
 
where
 
the
 
risk
 
drivers
 
are
 
specific
 
to
 
a
particular
 
counterparty,
 
but
 
where
 
there
 
is
 
insufficient
 
data
 
to
 
support
 
the
 
construction
 
of
 
a
 
statistical
 
model.
 
These
 
models
 
utilise
the
 
knowledge
 
of
 
credit
 
experts
 
that
 
have
 
in
 
depth
 
experience
 
of
 
the
 
specific
 
customer
 
type
 
being
 
modelled.
‘Exposure’
 
Generally
 
refers
 
to
 
positions
 
or
 
actions
 
taken
 
by
 
the
 
bank,
 
or
 
consequences
 
thereof,
 
that
 
may
 
put
 
a
 
certain
 
amount
 
of
 
a
bank’s
 
resources
 
at
 
risk.
‘Exposure
 
at
 
Default
 
(EAD)’
 
The
 
estimation
 
of
 
the
 
extent
 
to
 
which
 
Barclays
 
Group
 
may
 
be
 
exposed
 
to
 
a
 
customer
 
or
 
counterparty
 
in
the
 
event
 
of,
 
and
 
at
 
the
 
time
 
of,
 
that
 
counterparty’s
 
default.
 
At
 
default,
 
the
 
customer
 
may
 
not
 
have
 
drawn
 
the
 
loan
 
fully
 
or
 
may
already
 
have
 
repaid
 
some
 
of
 
the
 
principal,
 
so
 
that
 
exposure
 
may
 
be
 
less
 
than
 
the
 
approved
 
loan
 
limit.
‘External
 
Credit
 
Assessment
 
Institutions
 
(ECAI)’
Institutions
 
whose
 
credit
 
assessments
 
may
 
be
 
used
 
by
 
credit
 
institutions
 
for
 
the
determination
 
of
 
risk
 
weight
 
exposures
 
according
 
to
 
CRR.
‘Federal
 
Reserve
 
Board
 
(FRB)’
Is
 
the
 
governing
 
board
 
of
 
the
 
Federal
 
Reserve
 
System
 
of
 
the
 
US,
 
in
 
charge
 
of
 
making
 
the
country's
 
monetary
 
policy.
 
'FICC'
Represents
 
Macro
 
(including
 
rates
 
and
 
currency),
 
Credit
 
and
 
Securitised
 
products.
 
'Financial
 
Policy
 
Committee
 
(FPC)'
 
The
 
Bank
 
of
 
England’s
 
Financial
 
Policy
 
Committee
 
(FPC)
 
identifies,
 
monitors
 
and
 
takes
 
action
 
to
remove
 
or
 
reduce
 
systemic
 
risks
 
with
 
a
 
view
 
to
 
protecting
 
and
 
enhancing
 
the
 
resilience
 
of
 
the
 
UK
 
financial
 
system.
 
The
 
FPC
 
also
 
has
a
 
secondary
 
objective
 
to
 
support
 
the
 
economic
 
policy
 
of
 
the
 
UK
 
Government.
‘F-IRB’/
 
'Foundation-Internal
 
Ratings
 
Based’
 
See
 
‘Internal
 
Ratings
 
Based
 
(IRB)’.
 
‘Financial
 
Conduct
 
Authority
 
(FCA)’
 
The
 
statutory
 
body
 
responsible
 
for
 
conduct
 
of
 
business
 
regulation
 
and
 
supervision
 
of
 
UK
authorised
 
firms.
 
The
 
FCA
 
also
 
has
 
responsibility
 
for
 
the
 
prudential
 
regulation
 
of
 
firms
 
that
 
do
 
not
 
fall
 
within
 
the
 
PRA’s
 
scope.
 
‘Financial
 
Services
 
Compensation
 
Scheme
 
(FSCS)’
 
The
 
UK’s
 
fund
 
for
 
compensation
 
of
 
authorised
 
financial
 
services
 
firms
 
that
 
are
unable
 
to
 
pay
 
claims.
 
‘Financial
 
collateral
 
comprehensive
 
method
 
(FCCM)’
 
A
 
counterparty
 
credit
 
risk
 
exposure
 
calculation
 
approach
 
which
 
applies
volatility
 
adjustments
 
to
 
the
 
market
 
value
 
of
 
exposure
 
and
 
collateral
 
when
 
calculating
 
RWA
 
values.
‘Financial
 
Stability
 
Board
 
(FSB)’
An
 
international
 
body
 
that
 
monitors
 
and
 
makes
 
recommendations
 
about
 
the
 
global
 
financial
system.
 
It
 
promotes
 
international
 
financial
 
stability
 
by
 
coordinating
 
national
 
financial
 
authorities
 
and
 
international
 
standard
 
-
 
setting
bodies
 
as
 
they
 
work
 
toward
 
developing
 
strong
 
regulatory,
 
supervisory
 
and
 
other
 
financial
 
sector
 
policies.
 
It
 
fosters
 
a
 
level
 
playing
field
 
by
 
encouraging
 
coherent
 
implementation
 
of
 
these
 
policies
 
across
 
sectors
 
and
 
jurisdictions.
 
‘Fitch’
 
A
 
credit
 
rating
 
agency.
 
‘Forbearance
 
Programmes’
 
Forbearance
 
programmes
 
to
 
assist
 
customers
 
in
 
financial
 
difficulty
 
through
 
agreements
 
to
 
accept
 
less
than
 
contractual
 
amounts
 
due
 
where
 
financial
 
distress
 
would
 
otherwise
 
prevent
 
satisfactory
 
repayment
 
within
 
the
 
original
 
terms
and
 
conditions
 
of
 
the
 
contr
 
act.
 
These
 
agreements
 
may
 
be
 
initiated
 
by
 
the
 
customer,
 
Barclays
 
or
 
a
 
third
 
party
 
and
 
include
 
approved
debt
 
counselling
 
plans,
 
minimum
 
due
 
reductions,
 
interest
 
rate
 
concessions
 
and
 
switches
 
from
 
capital
 
and
 
interest
 
repayments
 
to
interest
 
-only
 
payments.
 
‘Foreclosures
 
in
 
Progress’
The
 
process
 
by
 
which
 
the
 
bank
 
initiates
 
legal
 
action
 
against
 
a
 
customer
 
with
 
the
 
intention
 
of
 
terminating
a
 
loan
 
agreement
 
whereby
 
the
 
bank
 
may
 
repossess
 
the
 
property
 
subject
 
to
 
local
 
law
 
and
 
recover
 
amounts
 
it
 
is
 
owed.
 
‘Foreign
 
exchange
 
derivatives’
 
The
 
Barclays
 
Group’s
 
principal
 
exchange
 
rate
 
-related
 
contracts
 
are
 
forward
 
foreign
 
exchange
contracts,
 
currency
 
swaps
 
and
 
currency
 
options.
 
Forward
 
foreign
 
exchange
 
contracts
 
are
 
agreements
 
to
 
buy
 
or
 
sell
 
a
 
specified
quantity
 
of
 
foreig
 
n
 
currency,
 
usually
 
on
 
a
 
specified
 
future
 
date
 
at
 
an
 
agreed
 
rate.
 
Currency
 
swaps
 
generally
 
involves
 
the
 
exchange,
or
 
notional
 
exchange,
 
of
 
equivalent
 
amounts
 
of
 
two
 
currencies
 
and
 
a
 
commitment
 
to
 
exchange
 
interest
 
periodically
 
until
 
the
principal
 
amounts
 
are
 
re
 
-exchanged
 
on
 
a
 
future
 
date.
 
Currency
 
options
 
provide
 
the
 
buyer
 
with
 
the
 
right,
 
but
 
not
 
the
 
obligation,
either
 
to
 
purchase
 
or
 
sell
 
a
 
fixed
 
amount
 
of
 
a
 
currency
 
at
 
a
 
specified
 
exchange
 
rate
 
on
 
or
 
before
 
a
 
future
 
date.
 
As
 
compensation
 
for
assuming
 
the
 
option
 
risk,
 
the
 
option
 
writer
 
generally
 
receives
 
a
 
premium
 
at
 
the
 
start
 
of
 
the
 
option
 
period.
‘Foreign
 
exchange
 
risk’
 
In
 
the
 
context
 
of
 
DVaR,
 
the
 
impact
 
of
 
changes
 
in
 
foreign
 
exchange
 
rates
 
and
 
volatilities.
 
 
 
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‘Full
 
time
 
equivalent’
 
Full
 
time
 
equivalent
 
units
 
are
 
the
 
on-job
 
hours
 
paid
 
for
 
employee
 
services
 
divided
 
by
 
the
 
number
 
of
 
ordinary-
time
 
hours
 
normally
 
paid
 
for
 
a
 
full-time
 
staff
 
member
 
when
 
on
 
the
 
job
 
(or
 
contract
 
employees
 
where
 
applicable).
 
‘Fully
 
loaded’
 
When
 
a
 
measure
 
is
 
presented
 
or
 
described
 
as
 
being
 
on
 
a
 
fully
 
loaded
 
basis,
 
it
 
is
 
calculated
 
without
 
applying
 
the
transitional
 
provisions
 
set
 
out
 
in
 
Part
 
Ten
 
of
 
CRR.
 
‘Funded
 
credit
 
protection’
 
Is
 
a
 
technique
 
of
 
credit
 
risk
 
mitigation
 
where
 
the
 
reduction
 
of
 
the
 
credit
 
risk
 
on
 
the
 
exposure
 
of
 
an
institution
 
derives
 
from
 
the
 
right
 
of
 
that
 
institution,
 
in
 
the
 
event
 
of
 
the
 
default
 
of
 
the
 
counterparty
 
or
 
on
 
the
 
occurrence
 
of
 
other
specified
 
credit
 
events
 
relating
 
to
 
the
 
counterparty,
 
to
 
liquidate,
 
or
 
to
 
obtain
 
transfer
 
or
 
appropriation
 
of,
 
or
 
to
 
retain
 
certain
 
assets
or
 
amounts,
 
or
 
to
 
reduce
 
the
 
amount
 
of
 
the
 
exposure
 
to,
 
or
 
to
 
replace
 
it
 
with,
 
the
 
amount
 
of
 
the
 
difference
 
between
 
the
 
amount
 
of
the
 
exposure
 
and
 
the
 
amount
 
of
 
a
 
claim
 
on
 
the
 
institution.
‘Gains
 
on
 
acquisitions’
 
The
 
amount
 
by
 
which
 
the
 
acquirer’s
 
interest
 
in
 
the
 
net
 
fair
 
value
 
of
 
the
 
identifiable
 
assets,
 
liabilities
 
and
contingent
 
liabilities,
 
recognised
 
in
 
a
 
business
 
combination,
 
exceeds
 
the
 
cost
 
of
 
the
 
combination.
 
‘General
 
Data
 
Protection
 
Regulation
 
(GDPR)’
GDPR
 
(Regulation
 
(EU)
 
2016/679)
 
is
 
a
 
regulation
 
by
 
which
 
the
 
European
 
Parliament,
the
 
Council
 
of
 
the
 
European
 
Union
 
and
 
the
 
European
 
Commission
 
intend
 
to
 
strengthen
 
and
 
unify
 
data
 
protection
 
for
 
all
 
individuals
within
 
the
 
European
 
Union.
 
‘General
 
market
 
risk’
 
The
 
risk
 
of
 
a
 
price
 
change
 
in
 
a
 
financial
 
instrument
 
due
 
to
 
a
 
change
 
in
 
level
 
of
 
interest
 
rates
 
or
 
owing
 
to
 
a
broad
 
equity
 
market
 
movement
 
unrelated
 
to
 
any
 
specific
 
attributes
 
of
 
individual
 
securities.
‘Globa
 
l-Systemically
 
Important
 
Banks
 
(G-SIBs
 
or
 
G-SIIs)’
 
Global
 
financial
 
institutions
 
whose
 
size,
 
complexity
 
and
 
systemic
interconnectedness,
 
mean
 
that
 
their
 
distress
 
or
 
failure
 
would
 
cause
 
significant
 
disruption
 
to
 
the
 
wider
 
financial
 
system
 
and
economic
 
activity.
 
The
 
Financial
 
Stability
 
Board
 
and
 
the
 
Basel
 
Committee
 
on
 
Banking
 
Supervision
 
publish
 
a
 
list
 
of
 
globally
systemically
 
important
 
banks.
 
‘G
 
-SII
 
additional
 
leverage
 
ratio
 
buffer
 
(G-SII
 
ALRB)’
A
 
macroprudential
 
buffer
 
that
 
applies
 
to
 
globally
 
systemically
 
important
 
banks
(G-SIBs)
 
and
 
other
 
major
 
domestic
 
UK
 
banks
 
and
 
building
 
societies,
 
including
 
banks
 
that
 
are
 
subject
 
to
 
ring-fencing
 
requirements.
The
 
G-SII
 
ALRB
 
will
 
be
 
calibrated
 
as
 
35%
 
(on
 
a
 
phased
 
basis)
 
of
 
the
 
combined
 
systemic
 
risk
 
buffer
 
s
 
that
 
applies
 
to
 
the
 
bank.
‘GSII
 
Buffer’
Common
 
Equity
 
Tier
 
1
 
capital
 
required
 
to
 
be
 
held
 
under
 
CRD
 
to
 
ensure
 
that
 
G-
 
SIBs
 
build
 
up
 
surplus
 
capital
 
to
compensate
 
for
 
the
 
systemic
 
risk
 
that
 
such
 
institutions
 
represent
 
to
 
the
 
financial
 
system.
’Grandfathering’
 
In
 
the
 
context
 
of
 
capital
 
resources,
 
the
 
phasing
 
in
 
of
 
the
 
application
 
of
 
instrument
 
eligibility
 
rules
 
which
 
allows
 
CRR
and
 
CRR
 
II
 
non-compliant
 
capital
 
instruments
 
to
 
be
 
included
 
in
 
regulatory
 
capital
 
subject
 
to
 
certain
 
thresholds
 
which
 
decrease
 
over
the
 
transitional
 
period.
‘Gross
 
charge-off
 
rates’
 
Represents
 
the
 
balances
 
charged
 
-off
 
to
 
recoveries
 
in
 
the
 
reporting
 
period,
 
expressed
 
as
 
a
 
percentage
 
of
average
 
outstanding
 
balances
 
excluding
 
balances
 
in
 
recoveries.
 
Charge-off
 
to
 
recoveries
 
generally
 
occurs
 
when
 
the
 
collections
 
focus
switches
 
from
 
the
 
collection
 
of
 
arrears
 
to
 
the
 
recovery
 
of
 
the
 
entire
 
outstanding
 
balance,
 
and
 
represents
 
a
 
fundamental
 
change
 
in
the
 
relationship
 
between
 
the
 
bank
 
and
 
the
 
customer.
 
This
 
is
 
a
 
measure
 
of
 
the
 
proportion
 
of
 
customer
 
s
 
that
 
have
 
gone
 
into
 
default
during
 
the
 
period.
 
‘Gross
 
write-off
 
rates’
 
Expressed
 
as
 
a
 
percentage
 
and
 
represents
 
balances
 
written
 
off
 
in
 
the
 
reporting
 
period
 
divided
 
by
 
gross
 
loans
and
 
advances
 
held
 
at
 
amortised
 
cost
 
at
 
the
 
balance
 
sheet
 
date.
‘Gross
 
new
 
lending’
 
New
 
lending
 
advanced
 
to
 
customers
 
during
 
the
 
period.
 
‘Guarantee’
 
Unless
 
otherwise
 
described,
 
an
 
undertaking
 
by
 
a
 
third
 
party
 
to
 
pay
 
a
 
creditor
 
should
 
a
 
debtor
 
fail
 
to
 
do
 
so.
 
It
 
is
 
a
 
form
of
 
credit
 
substitution.
 
‘Head
 
Office’
 
It
 
comprises
 
head
 
office,
 
Barclays
 
Services
 
FTE
 
and
 
legacy
 
businesses.
 
‘High-Net-Worth’
 
Businesses
 
within
 
Barclays
 
UK
 
and
 
Barclays
 
International
 
that
 
provide
 
banking
 
and
 
other
 
services
 
to
 
high
 
net
worth
 
customers.
 
‘High
 
Risk’
In
 
retail
 
banking,
 
‘High
 
Risk’
 
is
 
defined
 
as
 
the
 
subset
 
of
 
up-to
 
-date
 
customers
 
who,
 
either
 
through
 
an
 
event
 
or
 
observed
behaviour
 
exhibit
 
potential
 
financial
 
difficulty.
 
Where
 
appropriate,
 
these
 
customers
 
are
 
proactively
 
contacted
 
to
 
assess
 
whether
assistance
 
is
 
required.
‘Home
 
loan’
 
A
 
loan
 
to
 
purchase
 
a
 
residential
 
property.
 
The
 
property
 
is
 
then
 
used
 
as
 
collateral
 
to
 
guarantee
 
repayment
 
of
 
the
 
loan.
The
 
borrower
 
gives
 
the
 
lender
 
a
 
lien
 
against
 
the
 
property
 
and
 
the
 
lender
 
can
 
foreclose
 
on
 
the
 
property
 
if
 
the
 
borrower
 
does
 
not
repay
 
the
 
loan
 
per
 
the
 
agreed
 
terms.
 
Also
 
known
 
as
 
a
 
residential
 
mortgage.
 
‘IHC’
 
or
 
‘US
 
IHC’
 
Barclays
 
US
 
LLC,
 
the
 
intermediate
 
holding
 
company
 
established
 
by
 
Barclays
 
in
 
July
 
2016,
 
which
 
holds
 
most
 
of
Barclays’
 
subsidiaries
 
and
 
assets
 
in
 
the
 
US.
‘IMA’
 
/
 
'Internal
 
Model
 
Approach’
In
 
the
 
context
 
of
 
RWAs,
 
RWAs
 
for
 
which
 
the
 
exposure
 
amount
 
has
 
been
 
derived
 
via
 
the
 
use
 
of
 
a
PRA
 
approved
 
internal
 
market
 
risk
 
model.
 
 
 
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‘IMM’
 
/
 
'Internal
 
Model
 
Method’
In
 
the
 
context
 
of
 
RWAs,
 
RWAs
 
for
 
which
 
the
 
exposure
 
amount
 
has
 
been
 
derived
 
via
 
the
 
use
 
of
 
a
PRA
 
approved
 
internal
 
counterparty
 
credit
 
risk
 
model.
‘Identified
 
Impairment
 
(II)’
 
Specific
 
impairment
 
allowances
 
for
 
financial
 
assets,
 
individually
 
estimated.
‘IFRS
 
9
 
transitional
 
arrangements’
Following
 
the
 
application
 
of
 
IFRS
 
9
 
as
 
of
 
1
 
January
 
2018,
 
Article
 
473a
 
of
 
CRR
 
permits
 
institutions
to
 
phase-in
 
the
 
impact
 
on
 
capital
 
and
 
leverage
 
ratios
 
of
 
the
 
impairment
 
requirements
 
under
 
the
 
new
 
accounting
 
standard.
 
‘Impairment
 
Allowances’
 
A
 
provision
 
held
 
on
 
the
 
balance
 
sheet
 
as
 
a
 
result
 
of
 
the
 
raising
 
of
 
a
 
charge
 
against
 
profit
 
for
 
expected
losses
 
in
 
the
 
lending
 
book.
 
An
 
impairment
 
allowance
 
may
 
either
 
be
 
identified
 
or
 
unidentified
 
and
 
individual
 
or
 
collective.
 
‘Income’
 
Total
 
income,
 
unless
 
otherwise
 
specified.
 
‘Incremental
 
Risk
 
Charge
 
(IRC)’
An
 
estimate
 
of
 
the
 
incremental
 
risk
 
arising
 
from
 
rating
 
migrations
 
and
 
defaults
 
for
 
traded
 
debt
instruments
 
beyond
 
what
 
is
 
already
 
captured
 
in
 
specific
 
market
 
risk
 
VaR
 
for
 
the
 
non-correlation
 
trading
 
portfolio.
‘Independent
 
Validation
 
Unit
 
(IVU)’
The
 
function
 
within
 
the
 
bank
 
responsible
 
for
 
independent
 
review,
 
challenge
 
and
 
approval
 
of
 
all
models.
‘Individual
 
liquidity
 
guidance
 
(ILG)’
 
Guidance
 
given
 
to
 
a
 
bank
 
about
 
the
 
amount,
 
quality
 
and
 
funding
 
profile
 
of
 
liquidity
 
resources
that
 
the
 
PRA
 
has
 
asked
 
the
 
bank
 
to
 
maintain.
 
‘Inflation
 
risk’
 
In
 
the
 
context
 
of
 
DVaR,
 
the
 
impact
 
of
 
changes
 
in
 
inflation
 
rates
 
and
 
volatilities
 
on
 
cash
 
instruments
 
and
 
derivatives.
 
‘Insurance
 
Risk’
 
The
 
risk
 
of
 
the
 
Barclays
 
Group’s
 
aggregate
 
insurance
 
premiums
 
received
 
from
 
policyholders
 
under
 
a
 
portfolio
 
of
insurance
 
contracts
 
being
 
inadequate
 
to
 
cover
 
the
 
claims
 
arising
 
from
 
those
 
policies.
 
‘Interchange’
 
Income
 
paid
 
to
 
a
 
credit
 
card
 
issuer
 
for
 
the
 
clearing
 
and
 
settlement
 
of
 
a
 
sale
 
or
 
cash
 
advance
 
transaction.
‘Interest
 
-only
 
home
 
loans’
Under
 
the
 
terms
 
of
 
these
 
loans,
 
the
 
customer
 
makes
 
payments
 
of
 
interest
 
only
 
for
 
the
 
entire
 
term
 
of
 
the
mortgage,
 
although
 
customers
 
may
 
make
 
early
 
repayments
 
of
 
the
 
principal
 
within
 
the
 
terms
 
of
 
their
 
agreement.
 
The
 
customer
 
is
responsible
 
for
 
repaying
 
the
 
entire
 
outstanding
 
principal
 
on
 
maturity,
 
which
 
may
 
require
 
the
 
sale
 
of
 
the
 
mortgaged
 
property.
‘Interest
 
rate
 
derivatives’
 
Derivatives
 
linked
 
to
 
interest
 
rates.
 
This
 
category
 
includes
 
interest
 
rate
 
swaps,
 
collars,
 
floors
 
options
 
and
swaptions.
 
An
 
interest
 
rate
 
swap
 
is
 
an
 
agreement
 
between
 
two
 
parties
 
to
 
exchange
 
fixed
 
rate
 
and
 
floating
 
rate
 
interest
 
by
 
means
 
of
periodic
 
payments
 
based
 
upon
 
a
 
notional
 
principal
 
amount
 
and
 
the
 
interest
 
rates
 
defined
 
in
 
the
 
contract.
 
Certain
 
agreements
combine
 
interest
 
rate
 
and
 
foreign
 
currency
 
swap
 
transactions,
 
which
 
may
 
or
 
may
 
not
 
include
 
the
 
exchange
 
of
 
principal
 
amounts.
 
A
basis
 
swap
 
is
 
a
 
form
 
of
 
interest
 
rate
 
swap,
 
in
 
which
 
both
 
parties
 
exchange
 
interest
 
payme
 
nts
 
based
 
on
 
floating
 
rates,
 
where
 
the
floating
 
rates
 
are
 
based
 
upon
 
different
 
underlying
 
reference
 
indices.
 
In
 
a
 
forward
 
rate
 
agreement,
 
two
 
parties
 
agree
 
a
 
future
settlement
 
of
 
the
 
difference
 
between
 
an
 
agreed
 
rate
 
and
 
a
 
future
 
interest
 
rate,
 
applied
 
to
 
a
 
notional
 
principal
 
amount.
 
The
settlement,
 
which
 
generally
 
occurs
 
at
 
the
 
start
 
of
 
the
 
contract
 
period,
 
is
 
the
 
discounted
 
present
 
value
 
of
 
the
 
payment
 
that
 
would
otherwise
 
be
 
made
 
at
 
the
 
end
 
of
 
that
 
period.
‘Interest
 
rate
 
risk’
 
The
 
risk
 
of
 
interest
 
rate
 
volatility
 
adversely
 
impacting
 
the
 
Barclays
 
Group’s
 
net
 
interest
 
margin.
 
In
 
the
 
context
 
of
the
 
calculation
 
of
 
market
 
risk
 
DVaR,
 
measures
 
the
 
impact
 
of
 
changes
 
in
 
interest
 
(swap)
 
rates
 
and
 
volatilities
 
on
 
cash
 
instruments
and
 
derivatives.
‘Interest
 
rate
 
risk
 
in
 
the
 
banking
 
book
 
(IRRBB)’
The
 
risk
 
that
 
the
 
Barclays
 
Group
 
is
 
exposed
 
to
 
capital
 
or
 
income
 
volatility
 
because
 
of
a
 
mismatch
 
between
 
the
 
interest
 
rate
 
exposures
 
of
 
its
 
(non-traded)
 
assets
 
and
 
liabilities.
‘Internal
 
Assessment
 
Approach
 
(IAA)’
One
 
of
 
three
 
types
 
of
 
calculation
 
that
 
a
 
bank
 
with
 
permission
 
to
 
use
 
the
 
Internal
 
Ratings
Based
 
(IRB)
 
approach
 
may
 
apply
 
to
 
securitisation
 
exposures.
 
It
 
consists
 
of
 
mapping
 
a
 
bank's
 
internal
 
rating
 
methodology
 
for
 
credi
 
t
exposures
 
to
 
those
 
of
 
an
 
External
 
Credit
 
Assessment
 
Institution
 
(ECAI)
 
to
 
determine
 
the
 
appropriate
 
risk
 
weight
 
based
 
on
 
the
ratings
 
based
 
approach.
 
Its
 
applicability
 
is
 
limited
 
to
 
ABCP
 
programmes
 
related
 
to
 
liquidity
 
facilities
 
and
 
credit
 
enhancement.
‘Internal
 
Capital
 
Adequacy
 
Assessment
 
Process
 
(ICAAP)’
Companies
 
are
 
required
 
to
 
perform
 
a
 
formal
 
Internal
 
Capital
 
Adequacy
Assessment
 
Process
 
(ICAAP)
 
as
 
part
 
of
 
the
 
Pillar
 
2
 
requirements
 
(BIPRU)
 
and
 
to
 
provide
 
this
 
document
 
to
 
the
 
PRA
 
on
 
a
 
yearly
 
basis.
The
 
ICAAP
 
document
 
summarises
 
the
 
Barclays
 
Group’s
 
risk
 
management
 
framework,
 
including
 
approach
 
to
 
managing
 
all
 
risks
 
(i.e.
Pillar
 
1
 
and
 
non-Pillar
 
1
 
risks);
 
and,
 
the
 
Barclays
 
Group’s
 
risk
 
appetite,
 
economic
 
capital
 
and
 
stress
 
testing
 
frameworks.
 
‘Internal
 
Ratings
 
Based
 
(IRB)’
 
An
 
approach
 
under
 
the
 
CRR
 
framework
 
that
 
relies
 
on
 
the
 
bank’s
 
internal
 
models
 
to
 
derive
 
the
 
risk
weights.
 
The
 
IRB
 
approach
 
is
 
divided
 
into
 
two
 
alternative
 
applications,
 
Advanced
 
and
 
Foundation:
 
–
Advanced
 
IRB
 
(A-IRB):
 
the
 
bank
 
uses
 
its
 
own
 
estimates
 
of
 
probability
 
of
 
default
 
(PD),
 
loss
 
given
 
default
 
(LGD)
 
and
 
credit
conversion
 
factor
 
to
 
model
 
a
 
given
 
risk
 
exposure.
 
–
Foundation
 
IRB:
 
the
 
bank
 
applies
 
its
 
own
 
PD
 
as
 
for
 
Advanced,
 
but
 
it
 
uses
 
standard
 
parameters
 
for
 
the
 
LGD
 
and
 
the
 
credit
conversion
 
factor.
 
The
 
Foundation
 
IRB
 
approach
 
is
 
specifically
 
designed
 
for
 
wholesale
 
credit
 
exposures.
 
Hence
 
retail,
equity,
 
securitisation
 
positions
 
and
 
non-credit
 
obligations
 
asset
 
exposures
 
are
 
treated
 
under
 
standardised
 
or
 
A-IRB.
 
‘Investment
 
Bank’
The
 
Barclays
 
Group’s
 
investment
 
bank
 
which
 
consists
 
of
 
origination
 
led
 
and
 
returns
 
focused
 
markets
 
and
 
banking
business
 
which
 
forms
 
part
 
of
 
the
 
Corporate
 
and
 
Investment
 
Bank
 
segment
 
of
 
Barclays
 
International
 
.
 
 
 
Q320EX991P31I0.JPG
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of
 
Terms
 
 
 
 
 
63
 
 
‘Investment
 
Banking
 
Fees’
 
In
 
the
 
context
 
of
 
Investment
 
Bank
 
Analysis
 
of
 
Total
 
Income,
 
fees
 
generated
 
from
 
origination
 
activity
businesses
 
–
 
including
 
financial
 
advisory,
 
debt
 
and
 
equity
 
underwriting.
 
‘Investment
 
grade’
 
A
 
debt
 
security,
 
treasury
 
bill
 
or
 
similar
 
instrument
 
with
 
a
 
credit
 
rating
 
of
 
AAA
 
to
 
BBB
 
as
 
measured
 
by
 
external
credit
 
rating
 
agencies.
 
‘ISDA
 
Master
 
Agreement’
 
The
 
most
 
commonly
 
used
 
master
 
contract
 
for
 
OTC
 
derivative
 
transactions
 
internationally.
 
It
 
is
 
part
 
of
 
a
framework
 
of
 
documents,
 
designed
 
to
 
enable
 
OTC
 
derivatives
 
to
 
be
 
documented
 
fully
 
and
 
flexibly.
 
The
 
framework
 
consists
 
of
 
a
master
 
agreement,
 
a
 
schedule,
 
confirmations,
 
definition
 
booklets,
 
and
 
a
 
credit
 
support
 
annex.
 
The
 
ISDA
 
master
 
agreement
 
is
published
 
by
 
the
 
International
 
Swaps
 
and
 
Derivatives
 
Association
 
(ISDA).
 
‘Key
 
Risk
 
Scenarios
 
(KRS)’
Key
 
Risk
 
Scenarios
 
are
 
a
 
summary
 
of
 
the
 
extreme
 
potential
 
risk
 
exposure
 
for
 
each
 
Key
 
Risk
 
in
 
each
business
 
and
 
function,
 
including
 
an
 
assessment
 
of
 
the
 
potential
 
frequency
 
of
 
risk
 
events,
 
the
 
average
 
size
 
of
 
losses
 
and
 
three
extreme
 
scenarios.
 
The
 
Key
 
Risk
 
Scenario
 
assessments
 
are
 
a
 
key
 
input
 
to
 
the
 
Advanced
 
Measurement
 
Approach
 
calculation
 
of
regulatory
 
and
 
economic
 
capital
 
requirements.
‘Large
 
exposure’
A
 
large
 
exposure
 
is
 
defined
 
as
 
the
 
total
 
exposure
 
of
 
a
 
bank
 
to
 
a
 
counterparty
 
or
 
group
 
of
 
connected
 
clients,
whether
 
in
 
the
 
banking
 
book
 
or
 
trading
 
book
 
or
 
both,
 
which
 
in
 
aggregate
 
equals
 
or
 
exceeds
 
10%
 
of
 
the
 
bank's
 
eligible
 
capital.
‘Legal
 
risk’
 
The
 
risk
 
of
 
loss
 
or
 
imposition
 
of
 
penalties,
 
damages
 
or
 
fines
 
from
 
the
 
failure
 
of
 
the
 
Barclays
 
Group
 
to
 
meet
 
its
 
legal
obligations
 
including
 
regulatory
 
or
 
contractual
 
requirements.
‘Lending’
In
 
the
 
context
 
of
 
Investment
 
Bank
 
Analysis
 
of
 
Total
 
Income,
 
lending
 
income
 
includes
 
net
 
interest
 
income,
 
gains
 
or
 
losses
on
 
loan
 
sale
 
activity,
 
and
 
risk
 
management
 
activity
 
relating
 
to
 
the
 
loan
 
portfolio.
‘Letters
 
of
 
credit’
 
A
 
letter
 
typically
 
used
 
for
 
the
 
purposes
 
of
 
international
 
trade
 
guaranteeing
 
that
 
a
 
debtor’s
 
payment
 
to
 
a
 
creditor
will
 
be
 
made
 
on
 
time
 
and
 
in
 
full.
 
In
 
the
 
eve
 
nt
 
that
 
the
 
debtor
 
is
 
unable
 
to
 
make
 
payment,
 
the
 
bank
 
will
 
be
 
required
 
to
 
cover
 
the
 
full
or
 
remaining
 
amount
 
of
 
the
 
purchase.
‘Level
 
1
 
assets’
High
 
quality
 
liquid
 
assets
 
under
 
the
 
Basel
 
Committee’s
 
Liquidity
 
Coverage
 
Ratio
 
(LCR),
 
including
 
cash,
 
central
 
bank
reserves
 
and
 
higher
 
quality
 
government
 
securities.
 
‘Level
 
2
 
assets’
 
Under
 
the
 
Basel
 
Committee’s
 
Liquidity
 
Coverage
 
Ratio
 
high
 
quality
 
liquid
 
assets
 
(HQLA)
 
are
 
comprised
 
of
 
Level
 
1
 
and
Level
 
2
 
assets,
 
with
 
the
 
latter
 
comprised
 
of
 
Level
 
2A
 
and
 
Level
 
2B
 
assets.
 
Level
 
2A
 
assets
 
include,
 
for
 
example,
 
lower
 
quality
government
 
securities,
 
covered
 
bonds
 
and
 
corporate
 
debt
 
securities.
 
Level
 
2B
 
assets
 
include,
 
for
 
example,
 
lower
 
rated
 
corporate
bonds,
 
residential
 
mortgage
 
backed
 
securities
 
and
 
equities
 
that
 
meet
 
certain
 
conditions.
‘Lifetime
 
expected
 
credit
 
losses’
 
An
 
assessment
 
of
 
expected
 
losses
 
associated
 
with
 
default
 
events
 
that
 
may
 
occur
 
during
 
the
 
life
 
of
an
 
exposure,
 
reflecting
 
the
 
present
 
value
 
of
 
cash
 
shortfalls
 
over
 
the
 
remaining
 
expected
 
life
 
of
 
the
 
asset.
‘Lifetime
 
Probability’
 
The
 
likelihood
 
of
 
accounts
 
entering
 
default
 
during
 
the
 
expected
 
remaining
 
life
 
of
 
the
 
asset.
‘Liquidity
 
Coverage
 
Ratio
 
(LCR)’
 
The
 
ratio
 
of
 
the
 
stock
 
of
 
high
 
quality
 
liquid
 
assets
 
to
 
expected
 
net
 
cash
 
outflows
 
over
 
the
 
next
 
30
days.
 
High-
 
quality
 
liquid
 
assets
 
should
 
be
 
unencumbered,
 
liquid
 
in
 
markets
 
during
 
a
 
time
 
of
 
stress
 
and,
 
ideally,
 
be
 
central
 
bank
eligible.
 
These
 
include,
 
for
 
example,
 
cash
 
and
 
claims
 
on
 
central
 
governments
 
and
 
central
 
banks.
 
‘Liquidity
 
Pool’
 
The
 
Barclays
 
Group
 
liquidity
 
pool
 
comprises
 
cash
 
at
 
central
 
banks
 
and
 
highly
 
liquid
 
collateral
 
specifically
 
held
 
by
 
the
Barclays
 
Group
 
as
 
a
 
contingency
 
to
 
enable
 
the
 
bank
 
to
 
meet
 
cash
 
outflows
 
in
 
the
 
event
 
of
 
stressed
 
market
 
conditions.
 
‘Liquidity
 
Risk’
The
 
risk
 
that
 
the
 
Barclays
 
Group
 
is
 
unable
 
to
 
meet
 
its
 
contractual
 
or
 
contingent
 
obligations
 
or
 
that
 
is
 
does
 
not
 
have
the
 
appropriate
 
amount,
 
tenor
 
and
 
composition
 
of
 
funding
 
and
 
liquidity
 
to
 
support
 
its
 
assets.
 
‘Liquidity
 
risk
 
appetite
 
(LRA)’
 
The
 
level
 
of
 
liquidity
 
risk
 
that
 
the
 
Barclays
 
Group
 
chooses
 
to
 
take
 
in
 
pursuit
 
of
 
its
 
business
 
objectives
and
 
in
 
meeting
 
its
 
regulatory
 
obligations.
‘Liquidity
 
Risk
 
Management
 
Framework
 
(the
 
Liquidity
 
Framework)’
The
 
Liquidity
 
Risk
 
Management
 
Framework
 
(the
 
Liquidity
Framework),
 
which
 
is
 
sanctioned
 
by
 
the
 
Board
 
Risk
 
Committee
 
(BRC)
 
and
 
which
 
incorporates
 
liquidity
 
policies,
 
systems
 
and
 
controls
that
 
the
 
Barclays
 
Group
 
has
 
implemented
 
to
 
manage
 
liquidity
 
risk
 
within
 
tolerances
 
approved
 
by
 
the
 
Board
 
and
 
regulatory
agencies.
 
‘Litigation
 
and
 
conduct
 
charges’
 
or
 
‘Litigation
 
and
 
conduct’
Litigation
 
and
 
conduct
 
charges
 
include
 
regulatory
 
fines,
 
litigation
settlements
 
and
 
conduct
 
related
 
customer
 
redress.
‘Loan
 
loss
 
rate’
 
Quoted
 
in
 
basis
 
points
 
and
 
represents
 
total
 
annualised
 
impairment
 
charges
 
divided
 
by
 
gross
 
loans
 
and
 
advances
held
 
at
 
amortised
 
cost
 
at
 
the
 
balance
 
sheet
 
date.
‘Loan
 
to
 
deposit
 
ratio’
 
or
 
‘Loan:
 
deposit
 
ratio’
 
Loans
 
and
 
advances
 
at
 
amortised
 
costs
 
divided
 
by
 
deposits
 
at
 
amortised
 
cost.
‘Loan
 
to
 
value
 
(LTV)
 
ratio’
 
Expresses
 
the
 
amount
 
borrowed
 
against
 
an
 
asset
 
(i.e.
 
a
 
mortgage)
 
as
 
a
 
percentage
 
of
 
the
 
appraised
 
value
of
 
the
 
asset.
 
The
 
ratios
 
are
 
used
 
in
 
determining
 
the
 
appropriate
 
level
 
of
 
risk
 
for
 
the
 
loan
 
and
 
are
 
generally
 
reported
 
as
 
an
 
average
for
 
new
 
mortgages
 
or
 
an
 
entire
 
portfolio.
 
Also
 
see
 
‘Marked
 
to
 
market
 
(MTM)
 
LTV
 
ratio.’
 
 
 
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64
 
 
‘London
 
Interbank
 
Offered
 
Rate
 
(LIBOR)’
 
A
 
benchmark
 
interest
 
rate
 
at
 
which
 
banks
 
can
 
borrow
 
funds
 
from
 
other
 
banks
 
in
 
the
London
 
interbank
 
market.
 
‘Loss
 
Given
 
Default
 
(LGD)’
 
The
 
percentage
 
of
 
Exposure
 
at
 
Default
 
(EAD)
 
(defined
 
above)
 
that
 
will
 
not
 
be
 
recovered
 
following
default.
 
LGD
 
comprises
 
the
 
actual
 
loss
 
(the
 
part
 
that
 
is
 
not
 
expected
 
to
 
be
 
recovered),
 
together
 
with
 
the
 
economic
 
costs
 
associated
with
 
the
 
recovery
 
process.
 
‘Management
 
VaR’
 
A
 
measure
 
of
 
the
 
potential
 
loss
 
of
 
value
 
arising
 
from
 
unfavourable
 
market
 
movements
 
at
 
a
 
specific
 
confidence
level,
 
if
 
current
 
positions
 
were
 
to
 
be
 
held
 
unchanged
 
for
 
predefined
 
period.
 
Corporate
 
and
 
Investment
 
Bank
 
uses
 
Management
 
VaR
with
 
a
 
two
 
-year
 
equally
 
weighted
 
historical
 
period,
 
at
 
a
 
95%
 
confidence
 
level,
 
with
 
a
 
one
 
day
 
holding
 
period.
 
‘Mandatory
 
break
 
clause’
 
In
 
the
 
context
 
of
 
counterparty
 
credit
 
risk,
 
a
 
contract
 
clause
 
that
 
means
 
a
 
trade
 
will
 
be
 
ended
 
on
 
a
particular
 
date.
‘Marked
 
to
 
market
 
approach’
 
A
 
counterparty
 
credit
 
risk
 
exposure
 
calculation
 
approach
 
which
 
uses
 
the
 
current
 
mark
 
to
 
market
value
 
of
 
derivative
 
positions
 
as
 
well
 
as
 
a
 
potential
 
future
 
exposure
 
add-on
 
to
 
calculate
 
an
 
exposure
 
to
 
which
 
a
 
risk
 
weight
 
can
 
be
applied.
 
This
 
is
 
also
 
known
 
as
 
the
 
Current
 
Exposure
 
Method.
‘Marked
 
to
 
market
 
(MTM)
 
LTV
 
ratio’
 
The
 
loan
 
amount
 
as
 
a
 
percentage
 
of
 
the
 
current
 
value
 
of
 
the
 
asset
 
used
 
to
 
secure
 
the
 
loan.
Also
 
see
 
‘Balance
 
weighted
 
Loan
 
to
 
Value
 
(LTV)
 
ratio’
 
and
 
‘Valuation
 
weighted
 
Loan
 
to
 
Value
 
(LTV)
 
ratio.’
‘Market
 
risk’
 
The
 
risk
 
of
 
loss
 
arising
 
from
 
potential
 
adverse
 
changes
 
in
 
the
 
value
 
of
 
the
 
Barclays
 
Group’s
 
assets
 
and
 
liabilities
 
from
fluctuation
 
in
 
market
 
variables
 
including,
 
but
 
not
 
limited
 
to,
 
interest
 
rates,
 
foreign
 
exchange,
 
equity
 
prices,
 
commodity
 
prices,
credit
 
spreads,
 
implied
 
volatilities
 
and
 
asset
 
correlations.
 
‘Master
 
netting
 
agreements’
 
An
 
agreement
 
that
 
provides
 
for
 
a
 
single
 
net
 
settlement
 
of
 
all
 
financial
 
instruments
 
and
 
collateral
covered
 
by
 
the
 
agreement
 
in
 
the
 
event
 
of
 
the
 
counterparty’s
 
default
 
or
 
bankruptcy
 
or
 
insolvency,
 
resulting
 
in
 
a
 
reduced
 
exposure.
‘Master
 
trust
 
securitisation
 
programmes’
 
A
 
securitisation
 
structure
 
where
 
a
 
trust
 
is
 
set
 
up
 
for
 
the
 
purpose
 
of
 
acquiring
 
a
 
pool
 
of
receivables.
 
The
 
trust
 
issues
 
multiple
 
series
 
of
 
securities
 
backed
 
by
 
these
 
receivables.
‘Material
 
Risk
 
Takers
 
(MRTs)’
Categories
 
of
 
staff
 
whose
 
professional
 
activities
 
have
 
or
 
are
 
deemed
 
to
 
have
 
a
 
material
 
impact
 
on
Barclays’
 
risk
 
profile,
 
as
 
determined
 
in
 
accordance
 
with
 
the
 
European
 
Banking
 
Authority
 
regulatory
 
technical
 
standard
 
on
 
the
identification
 
of
 
such
 
staff.
‘Maximum
 
Distributable
 
Amount
 
(MDA)’
The
 
MDA
 
is
 
a
 
factor
 
representing
 
the
 
available
 
distributable
 
profit
 
whilst
 
remaining
 
in
excess
 
of
 
its
 
combined
 
buffer
 
requirement.
 
CRD
 
IV
 
places
 
restrictions
 
on
 
a
 
bank’s
 
dividend
 
decisions
 
depending
 
on
 
its
 
proximity
 
to
meeting
 
the
 
buffer.
‘Medium-Term
 
Notes’
 
Corporate
 
notes
 
(or
 
debt
 
securities)
 
continuously
 
offered
 
by
 
a
 
company
 
to
 
investors
 
through
 
a
 
dealer.
Investors
 
can
 
choose
 
from
 
differing
 
maturities,
 
ranging
 
from
 
nine
 
months
 
to
 
30
 
years.
 
They
 
can
 
be
 
issued
 
on
 
a
 
fixed
 
or
 
floating
coupon
 
basis
 
or
 
with
 
an
 
exotic
 
coupon;
 
with
 
a
 
fixed
 
maturity
 
date
 
(non-callable)
 
or
 
with
 
embedded
 
call
 
or
 
put
 
options
 
or
 
early
repayment
 
triggers.
 
MTNs
 
are
 
most
 
generally
 
issued
 
as
 
senior,
 
unsecured
 
debt.
‘Methodology
 
and
 
policy’
In
 
the
 
context
 
of
 
the
 
Capital
 
Risk
 
section,
 
the
 
effect
 
on
 
RWAs
 
of
 
methodology
 
changes
 
driven
 
by
regulatory
 
policy
 
changes.
 
‘MiFID
 
II’
The
 
Markets
 
in
 
Financial
 
Instruments
 
Directive
 
2004/39/EC
 
(known
 
as
 
"MiFID"
 
I)
 
as
 
subsequently
 
amended
 
to
 
MiFID
 
II
 
is
 
a
European
 
Union
 
law
 
that
 
provides
 
harmonised
 
regulation
 
for
 
investment
 
services
 
across
 
the
 
31
 
member
 
states
 
of
 
the
 
European
Economic
 
Area.
 
‘Minimum
 
requirement
 
for
 
own
 
funds
 
and
 
eligible
 
liabilities
 
(MREL)’
 
A
 
European
 
Union
 
wide
 
requirement
 
under
 
the
 
Bank
 
Recovery
and
 
Resolution
 
Directive
 
for
 
all
 
European
 
banks
 
and
 
investment
 
banks
 
to
 
hold
 
a
 
minimum
 
level
 
of
 
equity
 
and/or
 
loss
 
absorbing
eligible
 
liabilities
 
to
 
ensure
 
the
 
operation
 
of
 
the
 
bail-in
 
tool
 
to
 
absorb
 
losses
 
and
 
recapitalise
 
an
 
institution
 
in
 
resolution.
 
An
institution’s
 
MREL
 
requirement
 
is
 
set
 
by
 
its
 
resolution
 
authority.
 
Amendments
 
in
 
the
 
EU
 
Risk
 
Reduction
 
Measure
 
package
 
are
designed
 
to
 
align
 
MREL
 
and
 
TLAC
 
for
 
EU
 
G-SIBs.
‘Model
 
risk’
The
 
risk
 
of
 
the
 
potential
 
adverse
 
consequences
 
from
 
financial
 
assessments
 
or
 
decisions
 
based
 
on
 
incorrect
 
or
 
misused
model
 
outputs
 
and
 
reports.
 
‘Model
 
updates’
In
 
the
 
context
 
of
 
the
 
Capital
 
Risk
 
section,
 
changes
 
in
 
RWAs
 
caused
 
by
 
model
 
implementation,
 
changes
 
in
 
model
scope
 
or
 
any
 
changes
 
required
 
to
 
address
 
model
 
malfunctions.
 
‘Model
 
validation’
 
Process
 
through
 
which
 
models
 
are
 
independently
 
challenged,
 
tested
 
and
 
verified
 
to
 
prove
 
that
 
they
 
have
 
been
built,
 
implemented
 
and
 
used
 
correctly,
 
and
 
that
 
they
 
continue
 
to
 
be
 
fit-for
 
-purpose.
 
‘Modelled—VaR’
 
In
 
the
 
context
 
of
 
RWAs,
 
Market
 
risk
 
calculated
 
using
 
value
 
at
 
risk
 
models
 
laid
 
down
 
by
 
the
 
CRR
 
and
 
supervised
 
by
the
 
PRA.
 
‘Money
 
market
 
funds’
 
Investment
 
funds
 
typically
 
invested
 
in
 
short-term
 
debt
 
securities.
 
‘Monoline
 
derivatives’
 
Derivatives
 
with
 
a
 
monoline
 
insurer
 
such
 
as
 
credit
 
default
 
swaps
 
referencing
 
the
 
underlying
 
exposures
 
held.
 
 
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of
 
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65
 
 
‘Moody’s’
 
A
 
credit
 
rating
 
agency.
 
‘Mortgage
 
Servicing
 
Rights
 
(MSR)’
A
 
contractual
 
agreement
 
in
 
which
 
the
 
right
 
to
 
service
 
an
 
existing
 
mortgage
 
is
 
sold
 
by
 
the
 
original
lender
 
to
 
another
 
party
 
that
 
specialises
 
in
 
the
 
various
 
functions
 
involved
 
with
 
servicing
 
mortgages.
‘Multilateral
 
development
 
banks’
 
Financial
 
institutions
 
created
 
for
 
the
 
purposes
 
of
 
development,
 
where
 
membership
 
transcends
national
 
boundaries.
 
‘National
 
discretion’
 
Discretions
 
in
 
CRD
 
given
 
to
 
member
 
states
 
to
 
allow
 
the
 
local
 
regulator
 
additional
 
powers
 
in
 
the
 
application
 
of
certain
 
CRD
 
rules
 
in
 
its
 
jurisdiction.
 
‘Net
 
asset
 
value
 
per
 
share’
 
Calculated
 
by
 
dividing
 
shareholders’
 
equity,
 
excluding
 
non-controlling
 
interests
 
and
 
other
 
equity
instruments,
 
by
 
the
 
number
 
of
 
issued
 
ordinary
 
shares.
 
‘Net
 
interest
 
income
 
(NII)’
 
The
 
difference
 
between
 
interest
 
income
 
on
 
assets
 
and
 
interest
 
expense
 
on
 
liabilities.
 
‘Net
 
interest
 
margin
 
(NIM)’
 
Annualised
 
net
 
interest
 
income
 
divided
 
by
 
the
 
sum
 
of
 
average
 
customer
 
assets.
‘Net
 
investment
 
income’
 
Changes
 
in
 
the
 
fair
 
value
 
of
 
financial
 
instruments
 
designated
 
at
 
fair
 
value,
 
dividend
 
income
 
and
 
the
 
net
result
 
on
 
disposal
 
of
 
available
 
for
 
sale
 
assets.
 
‘Net
 
Stable
 
Funding
 
Ratio
 
(NSFR)’
 
The
 
ratio
 
of
 
available
 
stable
 
funding
 
to
 
required
 
stable
 
funding
 
over
 
a
 
one
 
year
 
time
 
horizon,
assuming
 
a
 
stressed
 
scenario.
 
The
 
ratio
 
is
 
required
 
to
 
be
 
over
 
100%.
 
Available
 
stable
 
funding
 
would
 
include
 
such
 
items
 
as
 
equity
capital,
 
preferred
 
stock
 
with
 
a
 
maturity
 
of
 
over
 
1
 
year,
 
or
 
liabilities
 
with
 
a
 
maturity
 
of
 
over
 
1
 
year.
 
The
 
required
 
amount
 
of
 
stable
funding
 
is
 
calculate
 
d
 
as
 
the
 
sum
 
of
 
the
 
value
 
of
 
the
 
assets
 
held
 
and
 
funded
 
by
 
the
 
institution,
 
multiplied
 
by
 
a
 
specific
 
required
stable
 
funding
 
(RSF)
 
factor
 
assigned
 
to
 
each
 
particular
 
asset
 
type,
 
added
 
to
 
the
 
amount
 
of
 
potential
 
liquidity
 
exposure
 
multiplied
 
by
its
 
associated
 
RSF
 
factor.
 
‘Net
 
trading
 
income’
 
Gains
 
and
 
losses
 
arising
 
from
 
trading
 
positions
 
which
 
are
 
held
 
at
 
fair
 
value,
 
in
 
respect
 
of
 
both
 
market
 
-making
and
 
customer
 
business,
 
together
 
with
 
interest,
 
dividends
 
and
 
funding
 
costs
 
relating
 
to
 
trading
 
activities.
‘Net
 
write-off
 
rate’
 
Expressed
 
as
 
a
 
percentage
 
and
 
represents
 
balances
 
written
 
off
 
in
 
the
 
reporting
 
period
 
less
 
any
 
post
 
write-off
recoveries
 
divided
 
by
 
gross
 
loans
 
and
 
advances
 
held
 
at
 
amortised
 
cost
 
at
 
the
 
balance
 
sheet
 
date.
‘Net
 
written
 
credit
 
protection’
 
In
 
the
 
context
 
of
 
leverage
 
exposure,
 
the
 
net
 
notional
 
value
 
of
 
credit
 
derivatives
 
protection
 
sold
 
and
credit
 
derivatives
 
protection
 
bought.
 
‘New
 
bookings’
The
 
total
 
of
 
the
 
original
 
balance
 
on
 
accounts
 
opened
 
in
 
the
 
reporting
 
period,
 
including
 
any
 
applicable
 
fees
 
and
charges
 
included
 
in
 
the
 
loan
 
amount.
‘Non-asset
 
backed
 
debt
 
instruments’
 
Debt
 
instruments
 
not
 
backed
 
by
 
collateral,
 
including
 
government
 
bonds;
 
US
 
agency
 
bonds;
corporate
 
bonds;
 
commercial
 
paper;
 
certificates
 
of
 
deposit;
 
convertible
 
bonds;
 
corporate
 
bonds
 
and
 
issued
 
notes.
 
‘Non-model
 
method
 
(NMM)’
 
In
 
the
 
context
 
of
 
RWAs,
 
Counterparty
 
credit
 
risk,
 
RWAs
 
where
 
the
 
exposure
 
amount
 
has
 
been
 
derived
through
 
the
 
use
 
of
 
CRR
 
norms,
 
as
 
opposed
 
to
 
an
 
internal
 
model.
 
‘Non-Traded
 
Market
 
Risk’
The
 
risk
 
that
 
the
 
current
 
or
 
future
 
exposure
 
in
 
the
 
banking
 
book
 
(i.e.
 
non-traded
 
book)
 
will
 
impact
 
bank's
capital
 
and/or
 
earnings
 
due
 
to
 
adverse
 
movements
 
in
 
Interest
 
or
 
foreign
 
exchange
 
rates.
‘Non-Traded
 
VaR’
Reflects
 
the
 
volatility
 
in
 
the
 
value
 
of
 
the
 
fair
 
value
 
through
 
other
 
comprehensive
 
income
 
(FVOCI)
 
investments
 
in
the
 
liquidity
 
pool
 
which
 
flow
 
directly
 
through
 
capital
 
via
 
the
 
FVOCI
 
reserve.
 
The
 
underlying
 
methodology
 
to
 
calculate
 
non-traded
VaR
 
is
 
similar
 
to
 
Traded
 
Management
 
VaR,
 
but
 
the
 
two
 
measures
 
are
 
not
 
directly
 
comparable.
 
The
 
Non-Traded
 
VaR
 
represents
 
the
volatility
 
to
 
capital
 
driven
 
by
 
the
 
FVOCI
 
exposures.
 
These
 
exposures
 
are
 
in
 
the
 
banking
 
book
 
and
 
do
 
not
 
meet
 
the
 
criteria
 
for
 
trading
book
 
treatment.
 
‘Notch’
 
A
 
single
 
unit
 
of
 
measurement
 
in
 
a
 
credit
 
rating
 
scale.
 
‘Notional
 
amount’
The
 
nominal
 
or
 
face
 
amount
 
of
 
a
 
financial
 
instrument,
 
such
 
as
 
a
 
loan
 
or
 
a
 
derivative,
 
that
 
is
 
used
 
to
 
calculate
payments
 
made
 
on
 
that
 
instrument.
 
‘Open
 
Banking’
The
 
Payment
 
Services
 
Directive
 
(PSD2)
 
and
 
the
 
Open
 
API
 
standards
 
and
 
data
 
sharing
 
remedy
 
imposed
 
by
 
the
 
UK
Competition
 
and
 
Markets
 
Authority
 
following
 
its
 
Retail
 
Banking
 
Market
 
Investigation
 
Order.
‘Operating
 
leverage’
 
Operating
 
expenses
 
compared
 
to
 
total
 
income
 
less
 
credit
 
impairment
 
charges
 
and
 
other
 
provisions.
 
‘Operational
 
risk’
 
The
 
risk
 
of
 
loss
 
to
 
the
 
bank
 
from
 
inadequate
 
or
 
failed
 
processes
 
or
 
systems,
 
human
 
factors
 
or
 
due
 
to
 
external
events
 
(for
 
example,
 
fraud)
 
where
 
the
 
root
 
cause
 
is
 
not
 
due
 
to
 
credit
 
or
 
market
 
risks.
‘Operational
 
Riskdata
 
eXchange
 
(ORX)’
 
The
 
Operational
 
Riskdata
 
eXchange
 
Association
 
(ORX)
 
is
 
a
 
not
 
-for
 
-profit
 
industry
 
association
dedicated
 
to
 
advancing
 
the
 
measurement
 
and
 
management
 
of
 
operational
 
risk
 
in
 
the
 
global
 
financial
 
services
 
industry.
 
Barclays
 
is
 
a
member
 
of
 
ORX.
‘Origination
 
led’
 
Focus
 
on
 
high
 
marg
 
in,
 
low
 
capital
 
fee
 
based
 
activities
 
and
 
related
 
hedging
 
opportunities.
 
 
 
Q320EX991P31I0.JPG
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66
 
 
‘OSII’
Other
 
systemically
 
important
 
institutions
 
are
 
institutions
 
that
 
are
 
deemed
 
to
 
create
 
risk
 
to
 
financial
 
stability
 
due
 
to
 
their
systemic
 
importance.
 
‘Over
 
-the-counter
 
(OTC)
 
derivatives’
 
Derivative
 
contracts
 
that
 
are
 
traded
 
(and
 
privately
 
negotiated)
 
directly
 
between
 
two
 
parties.
They
 
offer
 
flexibility
 
because,
 
unlike
 
standardised
 
exchange
 
-traded
 
products,
 
they
 
can
 
be
 
tailored
 
to
 
fit
 
specific
 
needs.
‘Ov
 
erall
 
capital
 
requirement’
 
The
 
overall
 
capital
 
requirement
 
is
 
the
 
sum
 
of
 
capital
 
required
 
to
 
meet
 
the
 
total
 
of
 
a
 
Pillar
 
1
requirement,
 
a
 
Pillar
 
2A
 
requirement,
 
a
 
Global
 
Systemically
 
Important
 
Institution
 
(G-
 
SII)
 
buffer,
 
a
 
Capital
 
Conservation
 
Buffer
 
(CCB)
and
 
a
 
Countercyclical
 
Capital
 
Buffer
 
(CCyB).
 
‘Own
 
credit’
 
The
 
effect
 
of
 
changes
 
in
 
the
 
Barclays
 
Group’s
 
own
 
credit
 
standing
 
on
 
the
 
fair
 
value
 
of
 
financial
 
liabilities.
 
‘Owner
 
occupied
 
mortgage’
A
 
mortgage
 
where
 
the
 
intention
 
of
 
the
 
customer
 
was
 
to
 
occupy
 
the
 
property
 
at
 
origination.
 
‘Own
 
funds’
The
 
sum
 
of
 
Tier
 
1
 
and
 
Tier
 
2
 
capital.
‘Past
 
due
 
items’
Refers
 
to
 
loans
 
where
 
the
 
borrower
 
has
 
failed
 
to
 
make
 
a
 
payment
 
when
 
due
 
under
 
the
 
terms
 
of
 
the
 
loan
 
contract.
 
‘Payment
 
Protection
 
Insurance
 
(PPI)
 
redress’
 
Provision
 
for
 
the
 
settlement
 
of
 
PPI
 
miss-selling
 
claims
 
and
 
related
 
claims
 
management
costs.
‘Pension
 
Risk’
The
 
risk
 
of
 
the
 
Barclays
 
Group’s
 
earnings
 
and
 
capital
 
being
 
adversely
 
impacted
 
by
 
the
 
Barclays
 
Group’s
 
defined
benefit
 
obligations
 
increasing
 
or
 
the
 
value
 
of
 
the
 
assets
 
backing
 
these
 
defined
 
benefit
 
obligations
 
decreasing
 
due
 
to
 
changes
 
in
 
both
the
 
level
 
and
 
volatility
 
of
 
prices.
 
‘Performance
 
costs’
 
The
 
accounting
 
charge
 
recognised
 
in
 
the
 
period
 
for
 
performance
 
awards.
 
For
 
deferred
 
incentives
 
and
 
long-
term
 
incentives,
 
the
 
accounting
 
charge
 
is
 
spread
 
over
 
the
 
relevant
 
periods
 
in
 
which
 
the
 
employee
 
delivers
 
service.
 
‘Personal
 
Banking’
Offers
 
retail
 
advice,
 
products
 
and
 
services
 
to
 
community
 
and
 
premier
 
customers
 
in
 
the
 
UK.
 
‘Period
 
end
 
allocated
 
tangible
 
equity’
 
Allocated
 
tangible
 
equity
 
is
 
calculated
 
as
 
13.0%
 
(2018:
 
13.0%)
 
of
 
RWAs
 
for
 
each
 
business,
adjusted
 
for
 
capital
 
deductions,
 
excluding
 
goodwill
 
and
 
intangible
 
assets,
 
reflecting
 
assumptions
 
the
 
Barclays
 
Group
 
uses
 
for
 
capital
planning
 
purposes.
 
Head
 
Office
 
allocated
 
tangible
 
equity
 
represents
 
the
 
difference
 
between
 
the
 
Barclays
 
Group’s
 
tangible
shareholders’
 
equity
 
and
 
the
 
amounts
 
allocated
 
to
 
businesses.
 
‘Pillar
 
1
 
requirements’
The
 
minimum
 
regulatory
 
capital
 
requirements
 
to
 
meet
 
the
 
sum
 
of
 
credit
 
(including
 
counterparty
 
credit),
market
 
and
 
operational
 
risk.
‘Pillar
 
2A
 
requirements’
The
 
additional
 
regulatory
 
capital
 
requirement
 
to
 
meet
 
risks
 
not
 
captured
 
under
 
Pillar
 
1
 
requirements.
 
This
requirement
 
is
 
the
 
outcome
 
of
 
the
 
bank’s
 
Internal
 
Capital
 
Adequacy
 
Assessment
 
Process
 
(ICAAP)
 
and
 
the
 
complementary
supervisory
 
review
 
and
 
evaluation
 
carried
 
out
 
by
 
the
 
PRA.
 
‘Post
 
-model
 
adjustment
 
(PMA)’
 
In
 
the
 
context
 
of
 
Basel
 
models,
 
a
 
PMA
 
is
 
a
 
short
 
term
 
increase
 
in
 
regulatory
 
capital
 
applied
 
at
portfolio
 
level
 
to
 
account
 
for
 
model
 
input
 
data
 
deficiencies,
 
inadequate
 
model
 
performance
 
or
 
changes
 
to
 
regulatory
 
definitions
(e.g.
 
definition
 
of
 
default)
 
to
 
ensure
 
the
 
model
 
output
 
is
 
accurate,
 
complete
 
and
 
appropriate.
‘Potential
 
Future
 
Exposure
 
(PFE)
 
on
 
derivatives’
 
A
 
regulatory
 
calculation
 
in
 
respect
 
of
 
the
 
Barclays
 
Group’s
 
potential
 
future
 
credit
exposure
 
on
 
both
 
exchange
 
traded
 
and
 
OTC
 
derivative
 
contrac
 
ts,
 
calculated
 
by
 
assigning
 
a
 
standardised
 
percentage
 
(based
 
on
 
the
underlying
 
risk
 
category
 
and
 
residual
 
trade
 
maturity)
 
to
 
the
 
gross
 
notional
 
value
 
of
 
each
 
contract.
‘PRA
 
waivers’
 
PRA
 
approvals
 
that
 
specifically
 
give
 
permission
 
to
 
the
 
bank
 
to
 
either
 
modi
 
fy
 
or
 
waive
 
existing
 
rules.
 
Waivers
 
are
specific
 
to
 
an
 
organisation
 
and
 
require
 
applications
 
being
 
submitted
 
to
 
and
 
approved
 
by
 
the
 
PRA.
‘Primary
 
securitisations’
 
The
 
issuance
 
of
 
securities
 
(bonds
 
and
 
commercial
 
papers)
 
for
 
fund-raising.
‘Primary
 
Stress
 
Tests’
 
In
 
the
 
context
 
of
 
Traded
 
Market
 
Risk,
 
Stress
 
Testing
 
provides
 
an
 
estimate
 
of
 
potentially
 
significant
 
future
losses
 
that
 
might
 
arise
 
from
 
extreme
 
market
 
moves
 
or
 
scenarios.
 
Primary
 
Stress
 
Tests
 
apply
 
stress
 
moves
 
to
 
key
 
liquid
 
risk
 
factors
for
 
each
 
of
 
the
 
major
 
trading
 
asset
 
classes.
‘Prime
 
Services’
 
Involves
 
financing
 
of
 
fixed
 
income
 
and
 
equity
 
positions
 
using
 
Repo
 
and
 
stock
 
lending
 
facilities.
 
The
 
Prime
 
Services
business
 
also
 
provides
 
brokerage
 
facilitation
 
services
 
for
 
hedge
 
fund
 
clients
 
offering
 
execution
 
and
 
clearance
 
facilities
 
for
 
a
 
variety
of
 
asset
 
classes.
 
‘Principal’
 
In
 
the
 
context
 
of
 
a
 
loan,
 
the
 
amount
 
borrowed,
 
or
 
the
 
part
 
of
 
the
 
amount
 
borrowed
 
which
 
remains
 
unpaid
 
(excluding
interest).
 
‘Principal
 
Investments’
 
/
 
‘Private
 
equity
 
investments’
 
Investments
 
in
 
equity
 
securities
 
in
 
operating
 
companies
 
not
 
quoted
 
on
 
a
public
 
exchange.
 
Investment
 
in
 
private
 
equity
 
often
 
involves
 
the
 
investment
 
of
 
capital
 
in
 
private
 
companies
 
or
 
the
 
acquisition
 
of
 
a
public
 
company
 
that
 
results
 
in
 
the
 
delisting
 
of
 
public
 
equity.
 
Capital
 
for
 
private
 
equity
 
investmen
 
t
 
is
 
raised
 
by
 
retail
 
or
 
institutional
investors
 
and
 
used
 
to
 
fund
 
investment
 
strategies
 
such
 
as
 
leveraged
 
buyouts,
 
venture
 
capital,
 
growth
 
capital,
 
distressed
 
investments
and
 
mezzanine
 
capital.
 
 
 
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‘Principal
 
Risks’
 
The
 
principal
 
risks
 
affecting
 
the
 
Barclays
 
Group
 
described
 
in
 
the
 
risk
 
review
 
section
 
of
 
the
 
Barclays
 
PLC
 
Annual
Report.
‘Pro
 
-cyclicality’
 
Movements
 
in
 
financial
 
variables
 
(including
 
capital
 
requirements)
 
following
 
natural
 
fluctuations
 
in
 
the
 
economic
cycle,
 
where
 
the
 
subsequent
 
impact
 
on
 
lending
 
or
 
other
 
market
 
behaviours
 
acts
 
as
 
an
 
amplification
 
of
 
the
 
economic
 
cycle
 
by
 
the
financial
 
sector.
‘Probability
 
of
 
Default
 
(PD)’
 
The
 
likelihood
 
that
 
a
 
loan
 
will
 
not
 
be
 
repaid
 
and
 
will
 
fall
 
into
 
default.
 
PD
 
may
 
be
 
calculated
 
for
 
each
client
 
who
 
has
 
a
 
loan
 
(normally
 
applicable
 
to
 
wholesale
 
customers/clients)
 
or
 
for
 
a
 
portfolio
 
of
 
clients
 
with
 
similar
 
attributes
(normally
 
applicable
 
to
 
retail
 
customers).
 
To
 
calculate
 
PD,
 
Barclays
 
assesses
 
the
 
credit
 
quality
 
of
 
borrowers
 
and
 
other
counterparties
 
and
 
assigns
 
them
 
an
 
internal
 
risk
 
rating.
 
Multiple
 
rating
 
methodologies
 
may
 
be
 
used
 
to
 
inform
 
the
 
rating
 
decision
 
on
individual
 
large
 
credits,
 
such
 
as
 
internal
 
and
 
external
 
models,
 
rating
 
agency
 
ratings,
 
and
 
for
 
wholesale
 
assets
 
market
 
information
such
 
as
 
credit
 
spreads.
 
For
 
smaller
 
credits,
 
a
 
single
 
source
 
may
 
suffice
 
such
 
as
 
the
 
result
 
from
 
an
 
internal
 
rating
 
model.
‘Product
 
structural
 
hedge’
 
An
 
interest
 
rate
 
hedge
 
in
 
place
 
to
 
reduce
 
earnings
 
volatility
 
on
 
product
 
balances
 
with
 
an
 
instant
 
access
(such
 
as
 
non-interest
 
bearing
 
current
 
accounts
 
and
 
managed
 
rate
 
deposits)
 
and
 
to
 
smoothen
 
the
 
income
 
over
 
a
 
medium/long
 
term.
 
‘Properties
 
in
 
Possession
 
held
 
as
 
’Loans
 
and
 
Advances
 
to
 
Customers’’
Properties
 
in
 
the
 
UK
 
and
 
Italy
 
where
 
the
 
customer
 
continues
to
 
retain
 
legal
 
title
 
but
 
where
 
the
 
bank
 
has
 
enforced
 
the
 
possession
 
order
 
as
 
part
 
of
 
the
 
foreclosure
 
process
 
to
 
allow
 
for
 
the
disposal
 
of
 
the
 
asset
 
or
 
the
 
court
 
has
 
ordered
 
the
 
auction
 
of
 
the
 
property.
‘Properties
 
in
 
Possession
 
held
 
as
 
‘Other
 
Real
 
Estate
 
Owned’’
Properties
 
in
 
South
 
Africa,
 
where
 
the
 
bank
 
has
 
taken
 
legal
 
ownership
of
 
the
 
title
 
as
 
a
 
result
 
of
 
purchase
 
at
 
an
 
auction
 
or
 
similar
 
and
 
treated
 
as
 
‘Other
 
Real
 
Estate
 
Owned’
 
within
 
other
 
assets
 
on
 
the
bank’s
 
balance
 
sheet.
‘Proprietary
 
trading’
 
When
 
a
 
bank,
 
brokerage
 
or
 
other
 
financial
 
institution
 
trades
 
on
 
its
 
own
 
account,
 
at
 
its
 
own
 
risk,
 
rather
 
than
 
on
behalf
 
of
 
customers
 
,
 
so
 
as
 
to
 
make
 
a
 
profit
 
for
 
itself.
 
‘Prudential
 
Regulation
 
Authority
 
(PRA)’
 
The
 
statutory
 
body
 
responsible
 
for
 
the
 
prudential
 
supervision
 
of
 
banks,
 
building
 
societies,
insurers
 
and
 
a
 
small
 
number
 
of
 
significant
 
investment
 
banks
 
in
 
the
 
UK.
 
The
 
PRA
 
is
 
a
 
subsidiary
 
of
 
the
 
Bank
 
of
 
England.
 
‘Prudential
 
valuation
 
adjustment
 
(PVA)’
 
A
 
calculation
 
which
 
adjusts
 
the
 
accounting
 
values
 
of
 
positions
 
held
 
on
 
balance
 
sheet
 
at
 
fair
value
 
to
 
comply
 
with
 
regulatory
 
valuation
 
standards,
 
which
 
place
 
greater
 
emphasis
 
on
 
the
 
inherent
 
uncertainty
 
around
 
the
 
value
 
at
which
 
a
 
trading
 
book
 
position
 
could
 
be
 
exited.
‘Public
 
benchmark’
 
Unsecured
 
medium
 
term
 
notes
 
issued
 
in
 
public
 
syndicated
 
transactions.
 
‘Qualifying
 
central
 
bank
 
claims’
An
 
amount
 
calculated
 
in
 
line
 
with
 
the
 
PRA
 
policy
 
statement
 
allowing
 
banks
 
to
 
exclude
 
claims
 
on
 
the
central
 
bank
 
from
 
the
 
calculation
 
of
 
the
 
leverage
 
exposure
 
measure,
 
as
 
long
 
as
 
these
 
are
 
matched
 
by
 
deposits
 
denominated
 
in
 
the
same
 
currency
 
and
 
of
 
identical
 
or
 
longer
 
maturity.
 
‘Qualifying
 
Revolvi
 
ng
 
Retail
 
Exposure
 
(QRRE)’
 
In
 
the
 
context
 
of
 
the
 
IRB
 
approach
 
to
 
credit
 
risk
 
RWA
 
calculations,
 
an
 
exposure
meeting
 
the
 
criteria
 
set
 
out
 
in
 
BIPRU
 
4.6.42
 
R
 
(2).
 
It
 
includes
 
most
 
types
 
of
 
credit
 
card
 
exposure.
‘Rates’
 
In
 
the
 
context
 
of
 
Investment
 
Bank
 
income
 
analysis,
 
trading
 
revenue
 
relating
 
to
 
government
 
bonds
 
and
 
linear
 
interest
 
rate
derivatives.
‘Re
 
-aging’
The
 
returning
 
of
 
a
 
delinquent
 
account
 
to
 
up-to
 
-date
 
status
 
without
 
collecting
 
the
 
full
 
arrears
 
(principal,
 
interest
 
and
fees).
‘Real
 
Estate
 
Mortgage
 
Investment
 
Conduits
 
(REMICs)’
An
 
entity
 
that
 
holds
 
a
 
fixed
 
pool
 
of
 
mortgages
 
and
 
that
 
is
 
separated
 
into
multiple
 
classes
 
of
 
interests
 
for
 
issuance
 
to
 
investors.
‘Recovery
 
book’
 
Represents
 
the
 
total
 
amount
 
of
 
exposure
 
which
 
has
 
been
 
transferred
 
to
 
recovery
 
units
 
who
 
set
 
and
 
implement
strategies
 
to
 
recover
 
the
 
Group’s
 
exposure.
 
‘Recovery
 
book
 
Impairment
 
Coverage
 
Ratio’
 
Impairment
 
allowance
 
held
 
against
 
recoveries
 
balances
 
expressed
 
as
 
a
 
percentage
 
of
balance
 
in
 
recoveries.
 
‘Recovery
 
book
 
proportion
 
of
 
outstanding
 
balances’
 
Represents
 
the
 
amount
 
of
 
recoveries
 
(gross
 
month-end
 
customer
 
balances
 
of
all
 
accounts
 
that
 
have
 
charged
 
-off)
 
as
 
at
 
the
 
period
 
end
 
compared
 
to
 
total
 
outstanding
 
balances.
 
The
 
size
 
of
 
the
 
recoveries
 
book
would
 
ultimately
 
have
 
an
 
impact
 
on
 
the
 
overall
 
impairment
 
requirement
 
on
 
the
 
portfolio.
 
Balances
 
in
 
recoveries
 
will
 
decrease
 
if:
assets
 
are
 
written
 
-off;
 
amounts
 
are
 
collected;
 
or
 
assets
 
are
 
sold
 
to
 
a
 
third
 
party
 
(i.e.
 
debt
 
sale).
 
‘Regulatory
 
capital’
 
The
 
amount
 
of
 
capital
 
that
 
a
 
bank
 
holds
 
to
 
satisfy
 
regulatory
 
requirements.
 
‘Renegotiated
 
loans’
 
Loans
 
are
 
generally
 
renegotiated
 
either
 
as
 
part
 
of
 
an
 
ongoing
 
customer
 
relationship
 
or
 
in
 
response
 
to
 
an
adverse
 
change
 
in
 
the
 
circumstances
 
of
 
the
 
borrower.
 
In
 
the
 
latter
 
case
 
renegotiation
 
can
 
result
 
in
 
an
 
extension
 
of
 
the
 
due
 
date
 
of
payment
 
or
 
repayment
 
plans
 
under
 
which
 
the
 
Barclays
 
Group
 
offers
 
a
 
concessionary
 
rate
 
of
 
interest
 
to
 
genuinely
 
distressed
borrowers.
 
This
 
will
 
result
 
in
 
the
 
asset
 
continuing
 
to
 
be
 
overdue
 
and
 
will
 
be
 
individually
 
impaired
 
where
 
the
 
renegotiated
 
payments
of
 
interest
 
and
 
principal
 
will
 
not
 
recover
 
the
 
original
 
carrying
 
amount
 
of
 
the
 
asset.
 
In
 
other
 
cases,
 
renegotiation
 
will
 
lead
 
to
 
a
 
new
agreement,
 
which
 
is
 
treated
 
as
 
a
 
new
 
loan.
 
 
Q320EX991P31I0.JPG
Glossary
 
of
 
Terms
 
 
 
 
 
68
 
 
‘Repurchase
 
agreement
 
(Repo)’
 
/
 
‘Reverse
 
repurchase
 
agreement
 
(Reverse
 
repo)’
 
Arrangements
 
that
 
allow
 
counterparties
 
to
 
use
financial
 
securities
 
as
 
collateral
 
for
 
an
 
interest
 
bearing
 
cash
 
loan.
 
The
 
borrower
 
agrees
 
to
 
sell
 
a
 
security
 
to
 
the
 
lender
 
subject
 
to
 
a
commitme
 
nt
 
to
 
repurchase
 
the
 
asset
 
at
 
a
 
specified
 
price
 
on
 
a
 
given
 
date.
 
For
 
the
 
party
 
selling
 
the
 
security
 
(and
 
agreeing
 
to
repurchase
 
it
 
in
 
the
 
future)
 
it
 
is
 
a
 
Repurchase
 
agreement
 
or
 
Repo;
 
for
 
the
 
counterparty
 
to
 
the
 
transaction
 
(buying
 
the
 
security
 
and
agreeing
 
to
 
sell
 
in
 
the
 
future)
 
it
 
is
 
a
 
Reverse
 
repurchase
 
agreement
 
or
 
Reverse
 
repo.
 
‘Reputation
 
risk’
 
The
 
risk
 
that
 
an
 
action,
 
transaction,
 
investment
 
or
 
event
 
will
 
reduce
 
trust
 
in
 
the
 
Barclays
 
Group’s
 
integrity
 
and
competence
 
by
 
clients,
 
counterparties,
 
inves
 
tors,
 
regulators,
 
employees
 
or
 
the
 
public.
‘Re
 
-securitisations’
 
The
 
repackaging
 
of
 
Securitised
 
Products
 
into
 
securities.
 
The
 
resulting
 
securities
 
are
 
therefore
 
securitisation
positions
 
where
 
the
 
underlying
 
assets
 
are
 
also
 
predominantly
 
securitisation
 
positions.
 
‘Reserve
 
Capital
 
Instruments
 
(RCIs)’
 
Hybrid
 
issued
 
capit
 
al
 
securities
 
which
 
may
 
be
 
debt
 
or
 
equity
 
accounted,
 
depending
 
on
 
the
terms.
 
‘Residential
 
Mortgage
 
-Backed
 
Securities
 
(RMBS)’
 
Securities
 
that
 
represent
 
interests
 
in
 
a
 
group
 
of
 
residential
 
mortgages.
 
Investors
 
in
these
 
securities
 
have
 
the
 
right
 
to
 
cash
 
received
 
from
 
future
 
mortgage
 
payments
 
(interest
 
and/or
 
principal).
 
‘Residual
 
maturity’
The
 
remaining
 
contractual
 
term
 
of
 
a
 
credit
 
obligation
 
associated
 
with
 
a
 
credit
 
exposure.
‘Restructured
 
loans’
 
Comprises
 
loans
 
where,
 
for
 
economic
 
or
 
legal
 
reasons
 
related
 
to
 
the
 
debtor’s
 
financial
 
difficulties,
 
a
 
concession
has
 
been
 
granted
 
to
 
the
 
debtor
 
that
 
would
 
not
 
otherwise
 
be
 
considered.
 
Where
 
the
 
concession
 
results
 
in
 
the
 
expected
 
cash
 
flows
discounted
 
at
 
the
 
original
 
effective
 
interest
 
rate
 
being
 
less
 
than
 
the
 
loan’s
 
carrying
 
value,
 
an
 
impairment
 
allowance
 
will
 
be
 
raised.
 
‘Retail
 
Loans’
 
Loans
 
to
 
individuals
 
or
 
small
 
and
 
medium
 
sized
 
enterprises
 
rather
 
than
 
to
 
financial
 
institutions
 
and
 
larger
 
businesses.
It
 
includes
 
both
 
secured
 
and
 
unsecured
 
loans
 
such
 
as
 
mortgages
 
and
 
credit
 
card
 
balances,
 
as
 
well
 
as
 
loans
 
to
 
certain
 
smaller
business
 
customers,
 
typically
 
with
 
exposures
 
up
 
to
 
£3m
 
or
 
with
 
a
 
turnover
 
up
 
to
 
£5m.
 
‘Return
 
on
 
average
 
Risk
 
Weighted
 
Assets’
 
Statutory
 
profit
 
after
 
tax
 
as
 
a
 
proportion
 
of
 
average
 
RWAs.
 
‘Return
 
on
 
average
 
tangible
 
shareholders’
 
equity
 
(RoTE)’
Annualised
 
profit
 
after
 
tax
 
attributable
 
to
 
ordinary
 
equity
 
holders
 
of
 
the
parent,
 
as
 
a
 
proportion
 
of
 
average
 
shareholders’
 
equity
 
excluding
 
non-controlling
 
interests
 
and
 
other
 
equity
 
instruments
 
adjusted
for
 
the
 
deduction
 
of
 
intangible
 
assets
 
and
 
goodwill.
 
‘Return
 
on
 
average
 
allocated
 
tangible
 
equity’
Annualised
 
profit
 
after
 
tax
 
attributable
 
to
 
ordinary
 
equity
 
holders
 
of
 
the
 
parent,
 
as
 
a
proportion
 
of
 
average
 
allocated
 
tangible
 
equity.
‘Risk
 
appetite’
 
The
 
level
 
of
 
risk
 
that
 
Barclays
 
is
 
prepared
 
to
 
accept
 
whilst
 
pursuing
 
its
 
business
 
strategy,
 
recognising
 
a
 
range
 
of
possible
 
outcomes
 
as
 
business
 
plans
 
are
 
implemented.
‘Risk
 
weighted
 
assets
 
(RWAs)’
 
A
 
measure
 
of
 
a
 
bank’s
 
assets
 
adjusted
 
for
 
their
 
associated
 
risks.
 
Risk
 
weightings
 
are
 
established
 
in
accordance
 
with
 
the
 
Basel
 
rules
 
as
 
implemented
 
by
 
CRR
 
and
 
local
 
regulators.
‘Risks
 
not
 
in
 
VaR
 
(RNIVS)’
 
Refers
 
to
 
all
 
the
 
key
 
market
 
risks
 
which
 
are
 
not
 
captured
 
or
 
not
 
well
 
captured
 
within
 
the
 
VaR
 
model
framework.
‘Sarbanes-Oxley
 
requirements’
 
The
 
Sarbanes-Oxley
 
Act
 
2002
 
(SOX),
 
which
 
was
 
introduced
 
by
 
the
 
US
 
Government
 
to
 
safeguard
against
 
corporate
 
govern
 
ance
 
scandals
 
such
 
as
 
Enron,
 
WorldCom
 
and
 
Tyco.
 
All
 
US-listed
 
companies
 
must
 
comply
 
with
 
SOX.
‘Second
 
Lien’
 
Debt
 
that
 
is
 
issued
 
against
 
the
 
same
 
collateral
 
as
 
higher
 
lien
 
debt
 
but
 
that
 
is
 
subordinate
 
to
 
it.
 
In
 
the
 
case
 
of
 
default,
compensation
 
for
 
this
 
debt
 
will
 
only
 
be
 
received
 
after
 
the
 
first
 
lien
 
has
 
been
 
repaid
 
and
 
thus
 
represents
 
a
 
riskier
 
investment
 
than
the
 
first
 
lien.
 
‘Secondary
 
Stress
 
Tests’
 
Secondary
 
stress
 
tests
 
are
 
used
 
in
 
measuring
 
potential
 
losses
 
arising
 
from
 
illiquid
 
market
 
risks
 
that
 
cannot
be
 
hedged
 
or
 
reduced
 
within
 
the
 
time
 
period
 
covered
 
in
 
Primary
 
Stress
 
Tests.
‘Secured
 
Overnight
 
Financing
 
Rate
 
(SOFR)’
A
 
broad
 
measure
 
of
 
the
 
cost
 
of
 
borrowing
 
cash
 
overnight
 
collateralized
 
by
 
U.S.
 
Treasury
securities
 
in
 
the
 
repurchase
 
agreement
 
(repo)
 
market.
 
 
‘Securities
 
Financing
 
Transactions
 
(SFT)’
 
In
 
the
 
context
 
of
 
RWAs,
 
any
 
of
 
the
 
following
 
transactions:
 
a
 
repurchase
 
transaction,
 
a
securities
 
or
 
commodities
 
lending
 
or
 
borrowing
 
transaction,
 
or
 
a
 
margin
 
lending
 
transaction
 
whereby
 
cash
 
collateral
 
is
 
received
 
or
paid
 
in
 
respect
 
of
 
the
 
transfer
 
of
 
a
 
related
 
asset.
 
‘Securities
 
financing
 
transactions
 
adjustments’
 
In
 
the
 
context
 
of
 
leverage
 
ratio,
 
a
 
regulatory
 
add-
 
on
 
calculated
 
as
 
exposure
 
less
collateral,
 
taking
 
into
 
account
 
master
 
netting
 
agreements.
‘Securities
 
lending
 
arrangements’
 
Arrangements
 
whereby
 
securities
 
are
 
legally
 
transferred
 
to
 
a
 
third
 
party
 
subject
 
to
 
an
 
agreement
to
 
return
 
them
 
at
 
a
 
future
 
date.
 
The
 
counterparty
 
generally
 
provides
 
collateral
 
against
 
non
 
performance
 
in
 
the
 
form
 
of
 
cash
 
or
other
 
assets.
 
‘Securitisation’
 
Typically,
 
a
 
process
 
by
 
which
 
debt
 
instruments
 
such
 
as
 
mortgage
 
loans
 
or
 
credit
 
card
 
balances
 
are
 
aggregated
 
into
 
a
pool,
 
which
 
is
 
used
 
to
 
back
 
new
 
securities.
 
A
 
company
 
sells
 
assets
 
to
 
a
 
special
 
purpose
 
vehicle
 
(SPV)
 
which
 
then
 
issues
 
securities
 
 
Q320EX991P31I0.JPG
Glossary
 
of
 
Terms
 
 
 
 
 
69
 
 
backed
 
by
 
the
 
assets.
 
This
 
allows
 
the
 
credit
 
quality
 
of
 
the
 
assets
 
to
 
be
 
separated
 
from
 
the
 
credit
 
rating
 
of
 
the
 
original
 
borrower
 
and
transfers
 
risk
 
to
 
external
 
investors.
 
‘Set-off
 
clauses’
 
In
 
the
 
context
 
of
 
Counterparty
 
credit
 
risk,
 
contract
 
clauses
 
that
 
allow
 
Barclays
 
to
 
set
 
off
 
amounts
 
owed
 
to
 
us
 
by
 
a
counterparty
 
against
 
amounts
 
owed
 
by
 
us
 
to
 
the
 
counterparty.
‘Settlement
 
balances’
 
Are
 
receivables
 
or
 
payables
 
recorded
 
between
 
the
 
date
 
(the
 
trade
 
date)
 
a
 
financial
 
instrument
 
(such
 
as
 
a
bond)
 
is
 
sold,
 
purchased
 
or
 
otherwise
 
closed
 
out,
 
and
 
the
 
date
 
the
 
asset
 
is
 
delivered
 
by
 
or
 
to
 
the
 
entity
 
(the
 
settlement
 
date)
 
and
cash
 
is
 
received
 
or
 
paid.
‘Settlement
 
risk’
 
The
 
risk
 
that
 
settlement
 
in
 
a
 
transfer
 
system
 
will
 
not
 
take
 
place
 
as
 
expected,
 
usually
 
owing
 
to
 
a
 
party
 
defaulting
 
on
one
 
or
 
more
 
settlement
 
obligations.
‘Significant
 
Increase
 
in
 
Credit
 
Risk
 
(SICR)’
 
Barclays
 
assesses
 
when
 
a
 
significant
 
increase
 
in
 
credit
 
risk
 
has
 
occurred
 
based
 
on
quantitative
 
and
 
qualitative
 
assessments.
‘Slotting’
 
Slotting
 
is
 
a
 
Basel
 
2
 
approach
 
that
 
requires
 
a
 
standard
 
set
 
of
 
rules
 
to
 
be
 
used
 
in
 
the
 
calculation
 
of
 
RWAs,
 
based
 
upon
 
an
assessment
 
of
 
factors
 
such
 
as
 
the
 
financial
 
strength
 
of
 
the
 
counterparty.
 
The
 
requirements
 
for
 
the
 
application
 
of
 
the
 
Slotting
approach
 
are
 
detailed
 
in
 
BIPRU
 
4.5.
‘Sovereign
 
exposure(s)’
 
Exposures
 
to
 
central
 
governments,
 
including
 
holdings
 
in
 
government
 
bonds
 
and
 
local
 
government
 
bonds.
 
‘Specific
 
market
 
risk’
 
A
 
risk
 
that
 
is
 
due
 
to
 
the
 
individual
 
nature
 
of
 
an
 
asset
 
and
 
can
 
potentially
 
be
 
diversified
 
or
 
the
 
risk
 
of
 
a
 
price
change
 
in
 
an
 
investment
 
due
 
to
 
factors
 
related
 
to
 
the
 
issuer
 
or,
 
in
 
the
 
case
 
of
 
a
 
derivative,
 
the
 
issuer
 
of
 
the
 
underlying
 
investment.
‘Spread
 
risk’
 
Measures
 
the
 
impact
 
of
 
changes
 
to
 
the
 
swap
 
spread,
 
i.e.
 
the
 
difference
 
between
 
swap
 
rates
 
and
 
government
 
bond
yields.
 
‘SRB
 
ALRB’
 
The
 
systemic
 
risk
 
buffer
 
(SRB)
 
additional
 
leverage
 
ratio
 
buffer
 
(ALRB)
 
is
 
firm
 
specific
 
requirement
 
set
 
by
 
the
 
PRA
 
using
 
its
powers
 
under
 
section
 
55M
 
of
 
the
 
Financial
 
Services
 
and
 
Markets
 
Act
 
(2000).
 
Barclays
 
is
 
required
 
to
 
hold
 
an
 
amount
 
of
 
CET1
 
capital
that
 
is
 
equal
 
to
 
or
 
greater
 
than
 
its
 
ALRB.
‘Stage
 
1’
 
This
 
represents
 
financial
 
instruments
 
where
 
the
 
credit
 
risk
 
of
 
the
 
financial
 
instrument
 
has
 
not
 
increased
 
significantly
 
since
initial
 
recognition.
 
Stage
 
1
 
financial
 
instruments
 
are
 
required
 
to
 
recognise
 
a
 
12
 
month
 
expected
 
credit
 
loss
 
allowance.
‘Stage
 
2’
 
This
 
represents
 
financial
 
instruments
 
where
 
the
 
credit
 
risk
 
of
 
the
 
financial
 
instrument
 
has
 
increased
 
significantly
 
since
initial
 
recognition.
 
Stage
 
2
 
financial
 
instruments
 
are
 
required
 
to
 
recognise
 
a
 
lifetime
 
expected
 
credit
 
loss
 
allowance.
‘Stage
 
3’
 
This
 
represents
 
financial
 
instr
 
uments
 
where
 
the
 
financial
 
instrument
 
is
 
considered
 
impaired.
 
Stage
 
3
 
financial
 
instruments
are
 
required
 
to
 
recognise
 
a
 
lifetime
 
expected
 
credit
 
loss
 
allowance.
‘Standard
 
&
 
Poor’s’
 
A
 
credit
 
rating
 
agency.
 
‘Standby
 
facilities,
 
credit
 
lines
 
and
 
other
 
commitments’
 
Agreements
 
to
 
lend
 
to
 
a
 
customer
 
in
 
the
 
future,
 
subject
 
to
 
certain
conditions.
 
Such
 
commitments
 
are
 
either
 
made
 
for
 
a
 
fixed
 
period,
 
or
 
have
 
no
 
specific
 
maturity
 
but
 
are
 
cancellable
 
by
 
the
 
lender
subject
 
to
 
notice
 
requirements.
 
‘Statutory’
 
Line
 
items
 
of
 
income,
 
expense,
 
profit
 
or
 
loss,
 
assets,
 
liabilities
 
or
 
equity
 
stated
 
in
 
accordance
 
with
 
the
 
requirements
 
of
the
 
UK
 
Companies
 
Act
 
2006
 
and
 
the
 
requirements
 
of
 
International
 
Financial
 
Reporting
 
Standards
 
(IFRS).
‘Statutory
 
return
 
on
 
average
 
shareholder
 
s’
 
equity’
 
Statutory
 
profit
 
after
 
tax
 
attributable
 
to
 
ordinary
 
shareholders
 
as
 
a
 
proportion
 
of
average
 
shareholders’
 
equity.
 
‘STD’
 
/
 
‘Standardised
 
Approach’
 
A
 
method
 
of
 
calculating
 
RWAs
 
that
 
relies
 
on
 
a
 
mandatory
 
framework
 
set
 
by
 
the
 
regulator
 
to
 
derive
risk
 
weights
 
based
 
on
 
counterparty
 
type
 
and
 
a
 
credit
 
rating
 
provided
 
by
 
an
 
External
 
Credit
 
Assessment
 
Institute.
 
‘Sterling
 
Over
 
Night
 
Index
 
Average
 
(SONIA)’
 
Reflects
 
bank
 
and
 
building
 
societies’
 
wholesale
 
overnight
 
funding
 
rates
 
in
 
the
 
sterling
unsecured
 
market
 
administrated
 
and
 
calculated
 
by
 
the
 
Bank
 
of
 
England.
‘Stress
 
Testing’
 
A
 
process
 
which
 
involves
 
identifying
 
possible
 
future
 
adverse
 
events
 
or
 
changes
 
in
 
economic
 
conditions
 
that
 
could
have
 
unfavourable
 
effects
 
on
 
the
 
Barclays
 
Group
 
(either
 
financial
 
or
 
non-financial),
 
assessing
 
the
 
Barclays
 
Group’s
 
ability
 
to
withstand
 
such
 
changes,
 
and
 
identifying
 
management
 
actions
 
to
 
mitigate
 
the
 
impact.
 
‘Stressed
 
Value
 
at
 
Risk
 
(SVaR)’
An
 
estimate
 
of
 
the
 
potential
 
loss
 
arising
 
from
 
a
 
12-month
 
period
 
of
 
significant
 
financial
 
stress
calibrated
 
to
 
99%
 
confidence
 
level
 
over
 
a
 
10-day
 
holding
 
period.
‘Structured
 
entity’
 
An
 
entity
 
in
 
which
 
voting
 
or
 
similar
 
rights
 
are
 
not
 
the
 
dominant
 
factor
 
in
 
deciding
 
control.
 
Structured
 
entities
 
are
generally
 
created
 
to
 
achieve
 
a
 
narrow
 
and
 
well
 
defined
 
objective
 
with
 
restrictions
 
around
 
their
 
ongoing
 
activities.
‘Structural
 
hedge’
 
or
 
‘hedging’
 
An
 
interest
 
rate
 
hedge
 
in
 
place
 
to
 
reduce
 
earnings
 
volatility
 
and
 
to
 
smoothen
 
the
 
income
 
over
 
a
medium/long
 
term
 
on
 
positions
 
that
 
exist
 
within
 
the
 
balance
 
sheet
 
and
 
do
 
not
 
re-
 
price
 
in
 
line
 
with
 
market
 
rates.
 
See
 
also
 
‘Equity
structural
 
hedge’
 
and
 
‘Product
 
structural
 
hedge’.
 
 
 
Q320EX991P31I0.JPG
Glossary
 
of
 
Terms
 
 
 
 
 
70
 
 
‘Structural
 
model
 
of
 
default’
A
 
model
 
based
 
on
 
the
 
assumption
 
that
 
an
 
obligor
 
will
 
default
 
when
 
its
 
assets
 
are
 
insufficient
 
to
 
cover
its
 
liabilities.
‘Structured
 
credit’
 
Includes
 
legacy
 
structured
 
credit
 
portfolio
 
primarily
 
comprising
 
derivative
 
exposure
 
and
 
financing
 
exposure
 
to
structured
 
credit
 
vehicles.
‘Structured
 
finance/notes’
 
A
 
structured
 
note
 
is
 
an
 
investment
 
tool
 
that
 
pays
 
a
 
return
 
linked
 
to
 
the
 
value
 
or
 
level
 
of
 
a
 
specified
 
asset
or
 
index
 
and
 
sometimes
 
offers
 
capital
 
protection
 
if
 
the
 
value
 
declines.
 
Structured
 
notes
 
can
 
be
 
linked
 
to
 
equities,
 
interest
 
rates,
funds,
 
commodities
 
and
 
foreign
 
currency.
‘Sub-prime’
 
Sub-
 
prime
 
is
 
defined
 
as
 
loans
 
to
 
borrowers
 
typically
 
having
 
weakened
 
credit
 
histories
 
that
 
include
 
payment
delinquencies
 
and
 
potentially
 
more
 
severe
 
problems
 
such
 
as
 
court
 
judgments
 
and
 
bankruptcies.
 
They
 
may
 
also
 
display
 
reduced
repayment
 
capacity
 
as
 
measured
 
by
 
credit
 
scores,
 
high
 
debt-to
 
-income
 
ratios,
 
or
 
other
 
criteria
 
indicating
 
heightened
 
risk
 
of
 
default.
‘Subordinated
 
liabilities’
 
Liabilities
 
which,
 
in
 
the
 
event
 
of
 
insolvency
 
or
 
liquidation
 
of
 
the
 
issuer,
 
are
 
subordinated
 
to
 
the
 
claims
 
of
depositors
 
and
 
other
 
creditors
 
of
 
the
 
issuer.
 
‘Suprana
 
tional
 
bonds’
 
Bonds
 
issued
 
by
 
an
 
international
 
organisation,
 
where
 
membership
 
transcends
 
national
 
boundaries
 
(e.g.
 
the
European
 
Union
 
or
 
World
 
Trade
 
Organisation).
‘Synthetic
 
Securitisation
 
Transactions’
 
Securitisation
 
transactions
 
effected
 
through
 
the
 
use
 
of
 
derivatives.
‘Systemic
 
Risk
 
Buffer’
 
CET1
 
capital
 
that
 
may
 
be
 
required
 
to
 
be
 
held
 
as
 
part
 
of
 
the
 
Combined
 
Buffer
 
Requirement
 
increasing
 
the
capacity
 
of
 
UK
 
banks
 
to
 
absorb
 
stress
 
and
 
limiting
 
the
 
damage
 
to
 
the
 
economy
 
as
 
a
 
result
 
of
 
restricted
 
lending.
‘Tangible
 
net
 
asset
 
value
 
(TNAV)’
 
Shareholders’
 
equity
 
excluding
 
non-controlling
 
interests
 
adjusted
 
for
 
the
 
deduction
 
of
 
intangible
assets
 
and
 
goodwill.
 
‘Tangible
 
net
 
asset
 
value
 
per
 
share’
 
Calculated
 
by
 
dividing
 
shareholders’
 
equity,
 
excluding
 
non-cont
 
rolling
 
interests
 
and
 
other
equity
 
instruments,
 
less
 
goodwill
 
and
 
intangible
 
assets,
 
by
 
the
 
number
 
of
 
issued
 
ordinary
 
shares.
 
‘Tangible
 
shareholders’
 
equity’
 
Shareholders’
 
equity
 
excluding
 
non-controlling
 
interests
 
and
 
other
 
equity
 
instruments
 
adjusted
 
for
the
 
deduction
 
of
 
intangible
 
assets
 
and
 
goodwill.
 
‘Term
 
premium’
 
Additional
 
interest
 
required
 
by
 
investors
 
to
 
hold
 
assets
 
with
 
a
 
longer
 
period
 
to
 
maturity.
 
‘The
 
Fundamental
 
Review
 
of
 
the
 
Trading
 
Book
 
(FRTB)’
 
Is
 
a
 
comprehensive
 
suite
 
of
 
capital
 
rules
 
developed
 
by
 
the
 
Basel
 
Committee
on
 
Banking
 
Supervision
 
as
 
part
 
of
 
Basel
 
III
 
applicable
 
to
 
banks’
 
wholesale
 
trading
 
activities.
‘The
 
Standardised
 
Approach
 
(TSA)’
Under
 
the
 
TSA,
 
banks
 
are
 
required
 
to
 
hold
 
regulatory
 
capital
 
for
 
operational
 
risk
 
equal
 
to
 
the
annual
 
average,
 
calculated
 
over
 
a
 
rolling
 
three-year
 
period,
 
of
 
the
 
relevant
 
income
 
indicator
 
(across
 
all
 
business
 
lines),
 
multiplied
 
by
a
 
supervisory
 
defined
 
percentage
 
factor
 
by
 
business
 
lines.
 
‘The
 
three
 
lines
 
of
 
defence’
The
 
three
 
lines
 
of
 
defence
 
operating
 
model
 
enables
 
Barclays
 
to
 
separate
 
risk
 
management
 
activities
between
 
those
 
client
 
facing
 
areas
 
of
 
the
 
Barclays
 
Group
 
and
 
associated
 
support
 
functions
 
responsible
 
for
 
identifying
 
risk,
 
operating
within
 
applicable
 
limits
 
and
 
escalating
 
risk
 
events
 
(first
 
line);
 
colleagues
 
in
 
Risk
 
and
 
Compliance
 
who
 
establish
 
the
 
limits,
 
rules
 
and
constraints
 
under
 
which
 
the
 
first
 
line
 
operates
 
and
 
monitors
 
their
 
performance
 
against
 
those
 
limits
 
and
 
constraints
 
(second
 
line);
and,
 
colleagu
 
es
 
in
 
Internal
 
Audit
 
who
 
provide
 
assurance
 
to
 
the
 
Board
 
and
 
Executive
 
Management
 
over
 
the
 
effectiveness
 
of
governance,
 
risk
 
management
 
and
 
control
 
over
 
risks
 
(third
 
line).
 
The
 
Legal
 
function
 
does
 
not
 
sit
 
in
 
any
 
of
 
the
 
three
 
lines,
 
but
supports
 
them
 
all.
 
The
 
Legal
 
function
 
is,
 
however,
 
subject
 
to
 
oversight
 
from
 
Risk
 
and
 
Compliance
 
with
 
respect
 
to
 
operational
 
and
conduct
 
risks.
‘Tier
 
1
 
capital’
 
The
 
sum
 
of
 
the
 
Common
 
Equity
 
Tier
 
1
 
capital
 
and
 
Additional
 
Tier
 
1
 
capital.
 
‘Tier
 
1
 
capital
 
ratio’
 
The
 
ratio
 
which
 
expresses
 
Tier
 
1
 
capital
 
as
 
a
 
percentage
 
of
 
RWAs
 
under
 
CRR.
 
‘Tier
 
2
 
(T2)
 
capita
l’
 
A
 
type
 
of
 
capital
 
as
 
defined
 
in
 
the
 
CRR
 
principally
 
composed
 
of
 
capital
 
instruments,
 
subordinated
 
loans
 
and
share
 
premium
 
accounts
 
where
 
qualifying
 
conditions
 
have
 
been
 
met.
‘Tier
 
2
 
(T2)
 
securities’
 
Securities
 
that
 
are
 
treated
 
as
 
Tier
 
2
 
(T2)
 
capital
 
in
 
the
 
context
 
of
 
CRR.
 
‘Total
 
capital
 
ratio’
Total
 
Regulatory
 
capital
 
as
 
a
 
percentage
 
of
 
RWAs.
‘Total
 
Loss
 
Absorbing
 
Capacity
 
(TLAC)’
 
A
 
standard
 
published
 
by
 
the
 
FSB
 
which
 
is
 
applicable
 
to
 
G-SIBs
 
and
 
requires
 
a
 
G-SIB
 
to
 
hold
 
a
prescriptive
 
minimum
 
level
 
of
 
instruments
 
and
 
liabilities
 
that
 
should
 
be
 
readily
 
available
 
for
 
bail-in
 
within
 
resolution
 
to
 
absorb
losses
 
and
 
recapitalise
 
the
 
institution.
‘Total
 
outstanding
 
balance’
In
 
retail
 
banking,
 
total
 
outstanding
 
balance
 
is
 
defined
 
as
 
the
 
gross
 
month-end
 
customer
 
balances
 
on
 
all
accounts
 
including
 
accounts
 
charged
 
off
 
to
 
recoveries.
 
‘Total
 
return
 
swap’
 
An
 
instrument
 
whereby
 
the
 
seller
 
of
 
protection
 
rec
 
eives
 
the
 
full
 
return
 
of
 
the
 
asset,
 
including
 
both
 
the
 
income
and
 
change
 
in
 
the
 
capital
 
value
 
of
 
the
 
asset.
 
The
 
buyer
 
of
 
the
 
protection
 
in
 
return
 
receives
 
a
 
predetermined
 
amount.
 
 
Q320EX991P31I0.JPG
Glossary
 
of
 
Terms
 
 
 
 
 
71
 
 
‘Total
 
balances
 
on
 
forbearance
 
programmes
 
coverage
 
ratio’
 
Impairment
 
allowanc
 
e
 
held
 
against
 
Forbearance
 
balances
 
expressed
 
as
a
 
percentage
 
of
 
balance
 
in
 
forbearance.
‘Traded
 
Market
 
Risk’
The
 
risk
 
of
 
a
 
reduction
 
to
 
earnings
 
or
 
capital
 
due
 
to
 
volatility
 
of
 
trading
 
book
 
positions.
 
‘Trading
 
book’
All
 
positions
 
in
 
financial
 
instruments
 
and
 
commodities
 
held
 
by
 
an
 
institution
 
either
 
with
 
trading
 
intent,
 
or
 
in
 
order
 
to
hedge
 
positions
 
held
 
with
 
trading
 
intent.
‘Traditional
 
Securitisation
 
Transactions’
 
Securitisation
 
transactions
 
in
 
which
 
an
 
underlying
 
pool
 
of
 
assets
 
generates
 
ca
 
sh
 
flows
 
to
service
 
payments
 
to
 
investors.
‘Transitional’
 
When
 
a
 
measure
 
is
 
presented
 
or
 
described
 
as
 
being
 
on
 
a
 
transitional
 
basis,
 
it
 
is
 
calculated
 
in
 
accordance
 
with
 
the
transitional
 
provisions
 
set
 
out
 
in
 
Part
 
Ten
 
of
 
CRR.
‘Treasury
 
and
 
Capital
 
Risk’
 
This
 
comprises
 
of
 
Liquidity
 
Risk,
 
Capital
 
Risk
 
and
 
Interest
 
Rate
 
Risk
 
in
 
the
 
Banking
 
Book.
‘Twelve
 
month
 
expected
 
credit
 
losses’
 
The
 
portion
 
of
 
the
 
lifetime
 
ECL
 
arising
 
if
 
default
 
occurs
 
within
 
12
 
months
 
of
 
the
 
reporting
date
 
(or
 
shorter
 
period
 
if
 
the
 
expected
 
life
 
is
 
less
 
than
 
12
 
months),
 
weighted
 
by
 
the
 
probability
 
of
 
said
 
default
 
occurring.
‘Twelve
 
month
 
PD’
 
The
 
likelihood
 
of
 
accounts
 
entering
 
default
 
within
 
12
 
months
 
of
 
the
 
reporting
 
date.
‘Unencumbered’
 
Assets
 
not
 
used
 
to
 
secure
 
liabilities
 
or
 
otherwise
 
pledged.
 
‘United
 
Kingdom
 
(UK)’
 
Geographic
 
segment
 
where
 
Barclays
 
operates
 
comprising
 
the
 
UK.
 
Also
 
see
 
‘Europe’.
 
‘UK
 
Bank
 
levy’
 
A
 
levy
 
that
 
applies
 
to
 
UK
 
banks,
 
building
 
societies
 
and
 
the
 
UK
 
operations
 
of
 
foreign
 
banks.
 
The
 
levy
 
is
 
payable
 
based
on
 
a
 
percentage
 
of
 
the
 
chargeable
 
equity
 
and
 
liabilities
 
of
 
the
 
bank
 
on
 
its
 
balance
 
sheet
 
date.
 
‘UK
 
leverage
 
exposure’
Is
 
calculated
 
as
 
per
 
the
 
PRA
 
rulebook,
 
where
 
the
 
exposure
 
calculation
 
also
 
includes
 
the
 
FPC’s
recommendation
 
to
 
allow
 
banks
 
to
 
exclude
 
claims
 
on
 
the
 
central
 
bank
 
from
 
the
 
calculation
 
of
 
the
 
leverage
 
exposure
 
measure,
 
as
long
 
as
 
these
 
are
 
matched
 
by
 
deposits
 
denominated
 
in
 
the
 
same
 
currency
 
and
 
of
 
identical
 
or
 
longer
 
maturity.
‘UK
 
leverage
 
ratio’
As
 
per
 
the
 
PRA
 
rulebook,
 
means
 
a
 
bank’s
 
tier
 
1
 
capital
 
divided
 
by
 
its
 
total
 
exposure
 
measure,
 
with
 
this
 
ratio
expressed
 
as
 
a
 
percentage.
‘Unfunded
 
credit
 
protection’
 
Is
 
a
 
technique
 
of
 
credit
 
risk
 
mitigation
 
where
 
the
 
reduction
 
of
 
the
 
credit
 
risk
 
on
 
the
 
exposure
 
of
 
an
institution
 
derives
 
from
 
the
 
obligation
 
of
 
a
 
third
 
party
 
to
 
pay
 
an
 
amount
 
in
 
the
 
event
 
of
 
the
 
default
 
of
 
the
 
borrower
 
or
 
the
occurrence
 
of
 
other
 
specified
 
credit
 
events.
‘US
 
Partner
 
Portfolio’
 
Co-branded
 
credit
 
card
 
programs
 
with
 
companies
 
across
 
various
 
sectors
 
including
 
travel,
 
entertainment,
retail
 
and
 
financial
 
sectors.
 
‘US
 
Residential
 
Mortgages’
 
Securities
 
that
 
represent
 
intere
 
sts
 
in
 
a
 
group
 
of
 
US
 
residential
 
mortgages.
 
‘Valuation
 
weighted
 
Loan
 
to
 
Value
 
(LTV)
 
Ratio’
 
In
 
the
 
context
 
of
 
credit
 
risk
 
disclosures
 
on
 
secured
 
home
 
loans,
 
a
 
means
 
of
calculating
 
marked
 
to
 
market
 
LTVs
 
derived
 
by
 
comparing
 
total
 
outstanding
 
balance
 
and
 
the
 
value
 
of
 
total
 
collateral
 
we
 
hold
 
against
these
 
balances.
 
Valuation
 
weighted
 
loan
 
to
 
value
 
is
 
calculated
 
using
 
the
 
following
 
formula:
 
LTV
 
=
 
total
 
outstandings
 
in
portfolio/total
 
property
 
values
 
of
 
total
 
outstandings
 
in
 
portfolio.
‘Value
 
at
 
Risk
 
(VaR)’
 
A
 
measure
 
of
 
the
 
potential
 
loss
 
of
 
value
 
arising
 
from
 
unfavourable
 
market
 
movements
 
at
 
a
 
specific
 
confidence
level
 
and
 
within
 
a
 
specific
 
timeframe.
‘Weighted
 
off
 
balance
 
sheet
 
commitments’
 
Regulatory
 
add-ons
 
to
 
the
 
leverage
 
exposure
 
measure
 
based
 
on
 
credit
 
conversion
factors
 
used
 
in
 
the
 
Standardised
 
Approach
 
to
 
credit
 
risk.
‘Wholesale
 
loans’
 
/
 
‘lending’
 
Lending
 
to
 
larger
 
businesses,
 
financial
 
institutions
 
and
 
sovereign
 
entities.
 
‘Write
 
-off
 
(gross)’
 
The
 
point
 
where
 
it
 
is
 
determined
 
that
 
an
 
asset
 
is
 
irrecoverable,
 
or
 
it
 
is
 
no
 
longer
 
considered
 
economically
 
viable
to
 
try
 
to
 
recover
 
the
 
asset
 
or
 
it
 
is
 
deemed
 
immaterial
 
or
 
full
 
and
 
final
 
settlement
 
is
 
reached
 
and
 
the
 
shortfall
 
written
 
off.
 
In
 
the
event
 
of
 
write-off,
 
the
 
customer
 
balance
 
is
 
removed
 
from
 
the
 
balance
 
sheet
 
and
 
the
 
impairment
 
allowance
 
held
 
against
 
the
 
asset
 
is
released.
 
Net
 
write-offs
 
represent
 
gross
 
write-offs
 
less
 
post
 
write
 
-
 
off
 
recoveries.
 
‘Wrong
 
-way
 
risk’
Arises,
 
in
 
a
 
trading
 
exposure,
 
when
 
there
 
is
 
significant
 
correlation
 
between
 
the
 
underlying
 
asset
 
and
 
the
counterparty,
 
which
 
in
 
the
 
event
 
of
 
default
 
would
 
lead
 
to
 
a
 
significant
 
mark
 
to
 
market
 
loss.
 
When
 
assessing
 
the
 
credit
 
exposure
 
of
 
a
wrong
 
-way
 
trade,
 
analysts
 
take
 
into
 
account
 
the
 
correlation
 
between
 
the
 
counterparty
 
and
 
the
 
underlying
 
asset
 
as
 
part
 
of
 
the
sanctioning
 
process.
 
 
Q320EX992P1I0.JPG
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Exhibit
 
99.2
 
–
 
Capitalisation
 
and
 
Indebtedness
 
 
 
 
 
72
 
 
The
 
following
 
table
 
sets
 
out
 
the
 
Group’s
 
capitalisation,
 
indebtedness
 
and
 
contingent
 
liabilities
 
on
 
a
 
consolidated
 
basis,
 
in
accordance
 
with
 
IFRS,
 
as
 
at
 
30
 
September
 
2020.
 
As
 
at
30.09.20
m
Share
 
Capital
 
of
 
Barclays
 
PLC
Ordinary
 
shares
 
-
 
issued
 
and
 
fully
 
paid
 
shares
 
of
 
£0.25
 
each
17,353
£m
Group
 
equity
Called
 
up
 
share
 
capital
 
and
 
share
 
premium
4,630
Other
 
equity
 
instruments
12,012
Other
 
reserves
5,349
Retained
 
earnings
45,825
Total
 
equity
 
excluding
 
non-controlling
 
interests
67,816
Non-controlling
 
interests
1,241
Total
 
equity
69,057
Group
 
indebtedness
Subordinated
 
liabilities
20,259
Debt
 
securities
 
in
 
issue
98,688
Total
 
indebtedness
118,947
Total
 
capitalisation
 
and
 
indebtedness
188,004
Group
 
contingent
 
liabilities
 
and
 
commitments
Guarantees
 
and
 
letters
 
of
 
credit
 
pledged
 
as
 
collateral
 
security
16,389
Performance
 
guarantees,
 
acceptances
 
and
 
endorsements
6,388
Total
 
contingent
 
liabilities
22,777
Documentary
 
credits
 
and
 
other
 
short-term
 
trade
 
related
 
transactions
1,124
Standby
 
facilities,
 
credit
 
lines
 
and
 
other
 
commitments
334,156
Total
 
commitments
335,280