v3.26.1
Derivative financial instruments
 6 Months Ended
Jun. 30, 2026
Disclosure of nature and extent of risks arising from financial instruments [abstract]  
Derivative financial instruments Derivative financial instruments
Contract
notional
amount
Fair value
Assets
Liabilities
As at 30.06.26
£m
£m
£m
Foreign exchange derivatives
10,343,102
88,073
(82,139)
Interest rate derivatives
103,471,652
96,185
(82,336)
Credit derivatives
1,974,655
8,832
(9,520)
Equity and stock index and commodity derivatives
4,586,752
108,290
(117,071)
Derivative assets/(liabilities) held for trading
120,376,161
301,380
(291,066)
Derivatives in hedge accounting relationships
Derivatives designated as cash flow hedges
161,205
2,132
(100)
Derivatives designated as fair value hedges
176,326
50
(576)
Derivatives designated as hedges of net investments
4,442
40
(43)
Derivative assets/(liabilities) designated in hedge accounting relationships
341,973
2,222
(719)
Total recognised derivative assets/(liabilities)
120,718,134
303,602
(291,785)
As at 31.12.25
Foreign exchange derivatives
8,534,098
74,246
(71,778)
Interest rate derivatives
86,471,333
93,166
(79,718)
Credit derivatives
1,736,768
7,851
(8,379)
Equity and stock index and commodity derivatives
3,729,728
74,480
(80,252)
Derivative assets/(liabilities) held for trading
100,471,927
249,743
(240,127)
Derivatives in hedge accounting relationships
Derivatives designated as cash flow hedges
151,412
2,485
(86)
Derivatives designated as fair value hedges
164,515
75
(552)
Derivatives designated as hedges of net investments
4,389
156
(43)
Derivative assets/(liabilities) designated in hedge accounting relationships
320,316
2,716
(681)
Total recognised derivative assets/(liabilities)
100,792,243
252,459
(240,808)
The IFRS netting posted against derivative assets was £37bn including £5bn of cash collateral netted (December 2025:
£43bn including £6bn cash collateral netted) and £38bn for liabilities including £5bn of cash collateral netted (December
2025: £43bn including £5bn of cash collateral netted). Derivative asset exposures would be £273bn (December 2025:
£226bn) lower than reported under IFRS if netting were permitted for assets and liabilities with the same counterparty or for
which the Group holds cash collateral of £36bn (December 2025: £31bn). Similarly, derivative liabilities would be £265bn
(December 2025: £218bn) lower reflecting counterparty netting and cash collateral placed of £28bn (December 2025:
£23bn). In addition, non-cash collateral of £14bn (December 2025: £13bn) was held in respect of derivative assets £5bn
(December 2025: £5bn) was placed in respect of derivative liabilities. Collateral amounts are limited to net on balance sheet
exposure so as to not include over-collateralisation