|
18.
DERIVATIVE FINANCIAL INSTRUMENTS
|
|
|
|
|
|
2007 |
|
|
|
|
|
2006 |
|
|
|
|
|
|
|
|
|
| |
|
|
Assets
£m |
|
|
Liabilities
£m |
|
|
Assets
£m |
|
|
Liabilities
£m |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest
rate swaps – cash flow hedge
|
|
|
15 |
|
|
234 |
|
|
– |
|
|
405 |
|
|
Other
interest rate swaps
|
|
|
11 |
|
|
240 |
|
|
49 |
|
|
304 |
|
|
Cross
currency swaps – cash flow hedge
|
|
|
10 |
|
|
755 |
|
|
20 |
|
|
417 |
|
|
Cross
currency swaps – fair value hedge
|
|
|
– |
|
|
78 |
|
|
12 |
|
|
16 |
|
|
Forward
foreign exchange contracts – cash flow hedge
|
|
|
16 |
|
|
3 |
|
|
7 |
|
|
5 |
|
|
Other
forward foreign exchange contracts
|
|
|
– |
|
|
– |
|
|
– |
|
|
3 |
|
|
Embedded
derivatives – options
|
|
|
– |
|
|
– |
|
|
– |
|
|
2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
52 |
|
|
1,310 |
|
|
88 |
|
|
1,152 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Analysed
as:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current
|
|
|
27 |
|
|
318 |
|
|
69 |
|
|
332 |
|
|
Non
current
|
|
|
25 |
|
|
992 |
|
|
19 |
|
|
820 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
52 |
|
|
1,310 |
|
|
88 |
|
|
1,152 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Details of
hedges in which the derivative financial instruments
are utilised are disclosed in note 33.
|
