Our Accounts 87
Notes to the Financial Statements continued
31 December 2012
18. Fair value estimation (continued)
Total gains/
(losses)
At 1 recognised At 31
January through December
2011 income Purchases Sales 2011
Society £m £m £m £m £m
Financial assets
Derivative financial instruments
Interest rate swaps 10.7 53.5 – – 64.2
Swaptions 33.0 8.9 – (12.3) 29.6
Equity/index derivatives – 9.7 30.0 – 39.7
43.7 72.1 30.0 (12.3) 133.5
Financial assets held at fair value through income
Shares, other variable yield securities and units in unit trusts
– UK unlisted 140.3 (25.8) 4.1 (4.7) 113.9
– Overseas unlisted 88.1 14.3 1.8 (12.7) 91.5
Debt and other fixed income securities
– UK listed 2.2 0.4 – (1.9) 0.7
– Overseas listed – (3.1) 4.2 – 1.1
Loan to group undertaking 131.7 29.1 6.4 (5.0) 162.2
Loans secured on residential property – 25.6 87.3 (1.8) 111.1
362.3 40.5 103.8 (26.1) 480.5
406.0 112.6 133.8 (38.4) 614.0
Statements and Reviews
Financial liabilities
Investment contract liabilities 137.4 – – (24.0) 113.4
Derivative financial instruments
Swaptions 27.6 – – (27.6) –
Property index swap – – 0.2 – 0.2
27.6 – 0.2 (27.6) 0.2
165.0 – 0.2 (51.6) 113.6
Our Businesses
Risk Management
Corporate Governance
Our Accounts