v3.25.2
Fair values of financial instruments carried at fair value - Movement in Level 3 financial instruments (Details) - GBP (£)
£ in Millions
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2023
Reconciliation of changes in fair value measurement, assets [abstract]      
– financial investments: fair value gains [1] £ (872) £ 43  
Level 3 | Recurring fair value measurements      
Reconciliation of changes in fair value measurement, assets [abstract]      
Financial assets, beginning balance 7,613    
Financial assets, ending balance 6,091    
Reconciliation of changes in fair value measurement, liabilities [abstract]      
Financial liabilities, beginning balance 5,941    
Financial liabilities, ending balance 5,847    
Trading liabilities | Recurring fair value measurements      
Reconciliation of changes in fair value measurement, liabilities [abstract]      
Financial liabilities, beginning balance 42,633    
Financial liabilities, ending balance 39,542    
Trading liabilities | Level 3 | Recurring fair value measurements      
Reconciliation of changes in fair value measurement, assets [abstract]      
– financial investments: fair value gains 0 0 £ 0
– exchange differences 0 0 0
Reconciliation of changes in fair value measurement, liabilities [abstract]      
Financial liabilities, beginning balance 624 252  
Total gains/(losses) on assets and total (gains)/losses on liabilities recognised in profit or loss (15) 210 16
Total losses recognised in other comprehensive income 0 0 0
– exchange differences 0 0 0
Purchases 46 107 616
New issuances 0 0 0
Sales (9) (232) (2)
Settlements (251)   (108)
Net settlements   (298)  
Transfers out (372) (28) (1)
Transfers in 11 91 1
Financial liabilities, ending balance 34 102 252
Unrealised gains/(losses) recognised in profit or loss relating to liabilities held 22 4 (9)
Designated at fair value | Recurring fair value measurements      
Reconciliation of changes in fair value measurement, liabilities [abstract]      
Financial liabilities, beginning balance 37,443    
Financial liabilities, ending balance 39,964    
Designated at fair value | Level 3 | Recurring fair value measurements      
Reconciliation of changes in fair value measurement, assets [abstract]      
– financial investments: fair value gains 0 0 0
– exchange differences 41 (35) (29)
Reconciliation of changes in fair value measurement, liabilities [abstract]      
Financial liabilities, beginning balance 2,962 3,958  
Total gains/(losses) on assets and total (gains)/losses on liabilities recognised in profit or loss (61) (1,819) 1
Total losses recognised in other comprehensive income 41 (35) (29)
– exchange differences 41 (35) (29)
Purchases 0 0 0
New issuances 1,617 1,686 991
Sales 0 0 0
Settlements (849)   (954)
Net settlements   352  
Transfers out (845) (585) (1,587)
Transfers in 173 289 694
Financial liabilities, ending balance 3,038 3,846 3,958
Unrealised gains/(losses) recognised in profit or loss relating to liabilities held (98) (140) 52
Derivatives | Recurring fair value measurements      
Reconciliation of changes in fair value measurement, liabilities [abstract]      
Financial liabilities, beginning balance 197,082    
Financial liabilities, ending balance 176,367    
Derivatives | Level 3 | Recurring fair value measurements      
Reconciliation of changes in fair value measurement, assets [abstract]      
– financial investments: fair value gains 0 0 0
– exchange differences 5 (3) 2
Reconciliation of changes in fair value measurement, liabilities [abstract]      
Financial liabilities, beginning balance 2,355 2,335  
Total gains/(losses) on assets and total (gains)/losses on liabilities recognised in profit or loss 702 570 84
Total losses recognised in other comprehensive income 5 (3) 2
– exchange differences 5 (3) 2
Purchases 0 0 0
New issuances 0 0 0
Sales 0 0 0
Settlements (288)   (242)
Net settlements   (88)  
Transfers out (362) (265) (810)
Transfers in 363 407 365
Financial liabilities, ending balance 2,775 2,956 2,335
Unrealised gains/(losses) recognised in profit or loss relating to liabilities held (1,011) (204) (418)
Financial investments | Recurring fair value measurements      
Reconciliation of changes in fair value measurement, assets [abstract]      
Financial assets, beginning balance 39,990    
Financial assets, ending balance 41,097    
Financial investments | Level 3 | Recurring fair value measurements      
Reconciliation of changes in fair value measurement, assets [abstract]      
Financial assets, beginning balance 1,079 907  
Total gains/(losses) on assets and total (gains)/losses on liabilities recognised in profit or loss (2) 1 (1)
Total losses recognised in other comprehensive income 49 (17) (8)
– financial investments: fair value gains 14 0 7
– exchange differences 35 (17) (15)
Purchases 83 114 913
New issuances 0 0 0
Sales (37) (20) (52)
Settlements (21) (185) (403)
Transfers out 969 46 158
Transfers in 0 34 0
Financial assets, ending balance 182 788 907
Unrealised gains/(losses) recognised in profit or loss relating to assets held 0 0 0
Reconciliation of changes in fair value measurement, liabilities [abstract]      
– exchange differences 35 (17) (15)
Financial investments | Level 3 | Recurring fair value measurements | Commercial paper      
Reconciliation of changes in fair value measurement, assets [abstract]      
Transfers out 900    
Trading assets | Recurring fair value measurements      
Reconciliation of changes in fair value measurement, assets [abstract]      
Financial assets, beginning balance 116,042    
Financial assets, ending balance 114,445    
Trading assets | Level 3 | Recurring fair value measurements      
Reconciliation of changes in fair value measurement, assets [abstract]      
Financial assets, beginning balance 3,570 2,050  
Total gains/(losses) on assets and total (gains)/losses on liabilities recognised in profit or loss (33) 213 (31)
Total losses recognised in other comprehensive income (49) (5) 8
– financial investments: fair value gains 0 0 0
– exchange differences (49) (5) 8
Purchases 1,322 554 1,934
New issuances 0 0 0
Sales (964) (470) (579)
Settlements (861) (286) (49)
Transfers out 760 196 81
Transfers in 310 242 266
Financial assets, ending balance 2,535 2,102 2,050
Unrealised gains/(losses) recognised in profit or loss relating to assets held 10 (6) (33)
Reconciliation of changes in fair value measurement, liabilities [abstract]      
– exchange differences (49) (5) 8
Designated and otherwise mandatorily measured at fair value through profit or loss | Recurring fair value measurements      
Reconciliation of changes in fair value measurement, assets [abstract]      
Financial assets, beginning balance 9,417    
Financial assets, ending balance 9,097    
Designated and otherwise mandatorily measured at fair value through profit or loss | Level 3 | Recurring fair value measurements      
Reconciliation of changes in fair value measurement, assets [abstract]      
Financial assets, beginning balance 1,082 2,882  
Total gains/(losses) on assets and total (gains)/losses on liabilities recognised in profit or loss 29 (20) 33
Total losses recognised in other comprehensive income (43) (46) (38)
– financial investments: fair value gains 0 0 0
– exchange differences (43) (46) (38)
Purchases 67 229 218
New issuances 0 0 0
Sales (2) (108) (301)
Settlements (28) 279 (2,064)
Transfers out 7 6 11
Transfers in 7 4 31
Financial assets, ending balance 1,105 3,214 2,882
Unrealised gains/(losses) recognised in profit or loss relating to assets held 8 (27) 50
Reconciliation of changes in fair value measurement, liabilities [abstract]      
– exchange differences (43) (46) (38)
Derivatives | Recurring fair value measurements      
Reconciliation of changes in fair value measurement, assets [abstract]      
Financial assets, beginning balance 198,172    
Financial assets, ending balance 176,838    
Derivatives | Level 3 | Recurring fair value measurements      
Reconciliation of changes in fair value measurement, assets [abstract]      
Financial assets, beginning balance 1,882 1,823  
Total gains/(losses) on assets and total (gains)/losses on liabilities recognised in profit or loss 737 357 410
Total losses recognised in other comprehensive income 6 (2) (2)
– financial investments: fair value gains 0 0 0
– exchange differences 6 (2) (2)
Purchases 0 0 0
New issuances 0 0 0
Sales 0 0 0
Settlements (450) 85 (695)
Transfers out 234 162 521
Transfers in 328 395 194
Financial assets, ending balance 2,269 2,496 1,823
Unrealised gains/(losses) recognised in profit or loss relating to assets held 700 (2,088) 540
Reconciliation of changes in fair value measurement, liabilities [abstract]      
– exchange differences 6 (2) (2)
– net income from financial instruments held for trading or managed on a fair value basis | Trading liabilities | Level 3 | Recurring fair value measurements      
Reconciliation of changes in fair value measurement, liabilities [abstract]      
Total gains/(losses) on assets and total (gains)/losses on liabilities recognised in profit or loss (15) 210 16
Unrealised gains/(losses) recognised in profit or loss relating to liabilities held 0 0 0
– net income from financial instruments held for trading or managed on a fair value basis | Designated at fair value | Level 3 | Recurring fair value measurements      
Reconciliation of changes in fair value measurement, liabilities [abstract]      
Total gains/(losses) on assets and total (gains)/losses on liabilities recognised in profit or loss (61) 0 (1,818)
Unrealised gains/(losses) recognised in profit or loss relating to liabilities held 0 0 (88)
– net income from financial instruments held for trading or managed on a fair value basis | Derivatives | Level 3 | Recurring fair value measurements      
Reconciliation of changes in fair value measurement, liabilities [abstract]      
Total gains/(losses) on assets and total (gains)/losses on liabilities recognised in profit or loss 702 570 84
Unrealised gains/(losses) recognised in profit or loss relating to liabilities held 0 0 0
– net income from financial instruments held for trading or managed on a fair value basis | Financial investments | Level 3 | Recurring fair value measurements      
Reconciliation of changes in fair value measurement, assets [abstract]      
Total gains/(losses) on assets and total (gains)/losses on liabilities recognised in profit or loss 0 0 0
Unrealised gains/(losses) recognised in profit or loss relating to assets held 0 0 0
– net income from financial instruments held for trading or managed on a fair value basis | Trading assets | Level 3 | Recurring fair value measurements      
Reconciliation of changes in fair value measurement, assets [abstract]      
Total gains/(losses) on assets and total (gains)/losses on liabilities recognised in profit or loss (33) 213 (31)
Unrealised gains/(losses) recognised in profit or loss relating to assets held 0 0 0
– net income from financial instruments held for trading or managed on a fair value basis | Designated and otherwise mandatorily measured at fair value through profit or loss | Level 3 | Recurring fair value measurements      
Reconciliation of changes in fair value measurement, assets [abstract]      
Total gains/(losses) on assets and total (gains)/losses on liabilities recognised in profit or loss 0 0 0
Unrealised gains/(losses) recognised in profit or loss relating to assets held 0 0 23
– net income from financial instruments held for trading or managed on a fair value basis | Derivatives | Level 3 | Recurring fair value measurements      
Reconciliation of changes in fair value measurement, assets [abstract]      
Total gains/(losses) on assets and total (gains)/losses on liabilities recognised in profit or loss 737 357 410
Unrealised gains/(losses) recognised in profit or loss relating to assets held 0 0 0
– net income from assets and liabilities of insurance businesses, including related derivatives, measured at fair value through profit or loss | Trading liabilities | Level 3 | Recurring fair value measurements      
Reconciliation of changes in fair value measurement, liabilities [abstract]      
Total gains/(losses) on assets and total (gains)/losses on liabilities recognised in profit or loss 0 0 0
– net income from assets and liabilities of insurance businesses, including related derivatives, measured at fair value through profit or loss | Designated at fair value | Level 3 | Recurring fair value measurements      
Reconciliation of changes in fair value measurement, liabilities [abstract]      
Total gains/(losses) on assets and total (gains)/losses on liabilities recognised in profit or loss 0 0 0
– net income from assets and liabilities of insurance businesses, including related derivatives, measured at fair value through profit or loss | Derivatives | Level 3 | Recurring fair value measurements      
Reconciliation of changes in fair value measurement, liabilities [abstract]      
Total gains/(losses) on assets and total (gains)/losses on liabilities recognised in profit or loss 0 0 0
– net income from assets and liabilities of insurance businesses, including related derivatives, measured at fair value through profit or loss | Financial investments | Level 3 | Recurring fair value measurements      
Reconciliation of changes in fair value measurement, assets [abstract]      
Total gains/(losses) on assets and total (gains)/losses on liabilities recognised in profit or loss 0 0 0
– net income from assets and liabilities of insurance businesses, including related derivatives, measured at fair value through profit or loss | Trading assets | Level 3 | Recurring fair value measurements      
Reconciliation of changes in fair value measurement, assets [abstract]      
Total gains/(losses) on assets and total (gains)/losses on liabilities recognised in profit or loss 0 0 0
– net income from assets and liabilities of insurance businesses, including related derivatives, measured at fair value through profit or loss | Designated and otherwise mandatorily measured at fair value through profit or loss | Level 3 | Recurring fair value measurements      
Reconciliation of changes in fair value measurement, assets [abstract]      
Total gains/(losses) on assets and total (gains)/losses on liabilities recognised in profit or loss 0 (44) 9
– net income from assets and liabilities of insurance businesses, including related derivatives, measured at fair value through profit or loss | Derivatives | Level 3 | Recurring fair value measurements      
Reconciliation of changes in fair value measurement, assets [abstract]      
Total gains/(losses) on assets and total (gains)/losses on liabilities recognised in profit or loss 0 0 0
– changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss | Trading liabilities | Level 3 | Recurring fair value measurements      
Reconciliation of changes in fair value measurement, liabilities [abstract]      
Total gains/(losses) on assets and total (gains)/losses on liabilities recognised in profit or loss 0 0 0
Unrealised gains/(losses) recognised in profit or loss relating to liabilities held 0 0 0
– changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss | Designated at fair value | Level 3 | Recurring fair value measurements      
Reconciliation of changes in fair value measurement, liabilities [abstract]      
Total gains/(losses) on assets and total (gains)/losses on liabilities recognised in profit or loss 0 (1,819) 1,819
Unrealised gains/(losses) recognised in profit or loss relating to liabilities held (98) (140) 140
– changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss | Derivatives | Level 3 | Recurring fair value measurements      
Reconciliation of changes in fair value measurement, liabilities [abstract]      
Total gains/(losses) on assets and total (gains)/losses on liabilities recognised in profit or loss 0 0 0
Unrealised gains/(losses) recognised in profit or loss relating to liabilities held 0 0 0
– changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss | Financial investments | Level 3 | Recurring fair value measurements      
Reconciliation of changes in fair value measurement, assets [abstract]      
Total gains/(losses) on assets and total (gains)/losses on liabilities recognised in profit or loss 0 0 0
Unrealised gains/(losses) recognised in profit or loss relating to assets held 0 0 0
– changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss | Trading assets | Level 3 | Recurring fair value measurements      
Reconciliation of changes in fair value measurement, assets [abstract]      
Total gains/(losses) on assets and total (gains)/losses on liabilities recognised in profit or loss 0 0 0
Unrealised gains/(losses) recognised in profit or loss relating to assets held 0 0 0
– changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss | Designated and otherwise mandatorily measured at fair value through profit or loss | Level 3 | Recurring fair value measurements      
Reconciliation of changes in fair value measurement, assets [abstract]      
Total gains/(losses) on assets and total (gains)/losses on liabilities recognised in profit or loss 29 24 24
Unrealised gains/(losses) recognised in profit or loss relating to assets held 8 (27) 27
– changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss | Derivatives | Level 3 | Recurring fair value measurements      
Reconciliation of changes in fair value measurement, assets [abstract]      
Total gains/(losses) on assets and total (gains)/losses on liabilities recognised in profit or loss 0 0 0
Unrealised gains/(losses) recognised in profit or loss relating to assets held 0 0 0
– gains from financial investments at fair value through other comprehensive income | Trading liabilities | Level 3 | Recurring fair value measurements      
Reconciliation of changes in fair value measurement, liabilities [abstract]      
Total gains/(losses) on assets and total (gains)/losses on liabilities recognised in profit or loss 0 0 0
– gains from financial investments at fair value through other comprehensive income | Designated at fair value | Level 3 | Recurring fair value measurements      
Reconciliation of changes in fair value measurement, liabilities [abstract]      
Total gains/(losses) on assets and total (gains)/losses on liabilities recognised in profit or loss 0 0 0
– gains from financial investments at fair value through other comprehensive income | Derivatives | Level 3 | Recurring fair value measurements      
Reconciliation of changes in fair value measurement, liabilities [abstract]      
Total gains/(losses) on assets and total (gains)/losses on liabilities recognised in profit or loss 0 0 0
– gains from financial investments at fair value through other comprehensive income | Financial investments | Level 3 | Recurring fair value measurements      
Reconciliation of changes in fair value measurement, assets [abstract]      
Total gains/(losses) on assets and total (gains)/losses on liabilities recognised in profit or loss (2) 1 (1)
– gains from financial investments at fair value through other comprehensive income | Trading assets | Level 3 | Recurring fair value measurements      
Reconciliation of changes in fair value measurement, assets [abstract]      
Total gains/(losses) on assets and total (gains)/losses on liabilities recognised in profit or loss 0 0 0
– gains from financial investments at fair value through other comprehensive income | Designated and otherwise mandatorily measured at fair value through profit or loss | Level 3 | Recurring fair value measurements      
Reconciliation of changes in fair value measurement, assets [abstract]      
Total gains/(losses) on assets and total (gains)/losses on liabilities recognised in profit or loss 0 0 0
– gains from financial investments at fair value through other comprehensive income | Derivatives | Level 3 | Recurring fair value measurements      
Reconciliation of changes in fair value measurement, assets [abstract]      
Total gains/(losses) on assets and total (gains)/losses on liabilities recognised in profit or loss 0 0 0
– trading (expense)/income excluding net interest income | Trading liabilities | Level 3 | Recurring fair value measurements      
Reconciliation of changes in fair value measurement, liabilities [abstract]      
Unrealised gains/(losses) recognised in profit or loss relating to liabilities held 22 4 (9)
– trading (expense)/income excluding net interest income | Designated at fair value | Level 3 | Recurring fair value measurements      
Reconciliation of changes in fair value measurement, liabilities [abstract]      
Unrealised gains/(losses) recognised in profit or loss relating to liabilities held 0 0 0
– trading (expense)/income excluding net interest income | Derivatives | Level 3 | Recurring fair value measurements      
Reconciliation of changes in fair value measurement, liabilities [abstract]      
Unrealised gains/(losses) recognised in profit or loss relating to liabilities held (1,011) (204) (418)
– trading (expense)/income excluding net interest income | Financial investments | Level 3 | Recurring fair value measurements      
Reconciliation of changes in fair value measurement, assets [abstract]      
Unrealised gains/(losses) recognised in profit or loss relating to assets held 0 0 0
– trading (expense)/income excluding net interest income | Trading assets | Level 3 | Recurring fair value measurements      
Reconciliation of changes in fair value measurement, assets [abstract]      
Unrealised gains/(losses) recognised in profit or loss relating to assets held 10 (6) (33)
– trading (expense)/income excluding net interest income | Designated and otherwise mandatorily measured at fair value through profit or loss | Level 3 | Recurring fair value measurements      
Reconciliation of changes in fair value measurement, assets [abstract]      
Unrealised gains/(losses) recognised in profit or loss relating to assets held 0 0 0
– trading (expense)/income excluding net interest income | Derivatives | Level 3 | Recurring fair value measurements      
Reconciliation of changes in fair value measurement, assets [abstract]      
Unrealised gains/(losses) recognised in profit or loss relating to assets held £ 700 £ (2,088) £ 540
[1] Amounts in 1H25 includes a £1bn fair value post-tax loss in other comprehensive income on a retained portfolio of home and other loans associated with the sale
of our retail banking operations in France, and reclassified from hold-to-collect to hold-to-collect-and-sell business model, and measured in loans and advances at
fair value through other comprehensive income.