These include all credit balances on customers' accounts. This covers deposits by other UK MFIs (except deposits in connection with syndicated lending), deposits by non-resident (except those from non-resident offices of the reporting institution invested in fixed assets which are included in capital and other funds), overdrawn accounts with UK and non-resident correspondents, and deposits from other UK residents. They also include acceptances granted, liabilities under sale and repurchase agreements, certificates of deposit and other short-term paper issued (all shown separately except bills accepted by another UK bank), and all liabilities in gold bullion or gold coin (which are included in ‘Other/Foreign currency liabilities’) except that deposited for safe custody.
Sight deposits comprise balances as defined above, whether interest-bearing or not, are accessible without penalty, either on demand or by close of business on the day following that on which the deposit was made.
Time deposits comprise all other deposits except acceptances granted, certificates of deposits and other short-term paper. Time deposits include the cash elements of all ISA deposits including those which can be withdrawn on demand, and bills accepted by other UK MFIs.
Acceptances granted represent the MFIs' liabilities to the owners of the bills.
Liabilities under sale and repurchase agreements comprise cash receipts arising from the sale of securities or other assets for a finite period with a commitment to repurchase. Liabilities which arise when securities or other assets are sold in exchange for other securities or other non-cash assets are excluded. The amount of the liability (or its currency denomination) is determined by the cash consideration not the market value (or currency denomination) of the securities.
CDs etc. and other short-term paper issued include promissory notes issued by the reporting institutions. Also included are unsubordinated capital market instruments (except debentures and secured loan stocks) of any maturity, and subordinated loans with an original maturity of five years or less. Other subordinated loans and debentures are included in ‘Capital and other funds’. Issues of bills accepted by other UK MFIs are included in time deposits placed by UK MFIs.
Items in suspense and transmission comprise credit balances not in customers' names but relating to customers' funds rather than to the reporting institution's internal funds or to shareholders' funds; balances awaiting settlement of securities transactions, and standing orders and credit transfers debited to customers' accounts, and other items for which the corresponding payment has not yet been made by the reporting institution. Also included are credits in course of transmission to UK branches of the reporting institution, to other UK MFIs, and to non-resident banks.
Net derivatives comprise the overall net derivatives position of contracts which are included within the trading and banking books of the reporting institutions.
Accrued amounts payable are gross amounts payable which have not yet been paid or credited to accounts.
Capital and other funds include shareholders’ funds, working capital provided by non-resident offices, and all internal accounts (both liability and asset). Included here is loan capital such as debentures and subordinated loans with an original maturity of more than five years.