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Financial review
Cross-border outstandings

The world-wide operations of the Group involve significant exposures in non-local currencies. These cross-border outstandings are controlled through a well-developed system of country limits, which are frequently reviewed to avoid concentrations of transfer, economic or political risks.

Cross-border outstandings, which exclude finance provided within the Group, are based on the country of domicile of the borrower or guarantor of ultimate risk and comprise loans and advances to customers and banks (including placings), finance lease receivables, interest bearing investments, acceptances, other monetary assets and on-balance sheet amounts arising from off-balance sheet financial instruments, denominated in currencies other than the borrower’s local currency.

At 31st December 2000, the countries where Barclays cross-border outstandings exceeded 1% of assets were Germany, the United States, and Japan and consisted substantially of placings with banks due within one year. In this context, assets comprise total assets, as presented in the consolidated balance sheet, and include acceptances. On this basis, assets amounted to £317,325m at 31st December 2000 (1999 £256,308m, 1998 £220,564m).
Cross-border outstandings exceeding 1% of assets
As % of
assets %		 Total
£m		 Banks
and other
financial
institutions
£m		 Governments
and official
institutions
£m		 Commercial
industrial
and other
private sector
£m
At 31st December 2000
Germany 2.4 7,505 6,829 554 122
United States 1.9 6,104 3,125 5 2,974
Japan 1.1 3,493 2,721 96 676
At 31st December 1999
Germany 2.5 6,438 5,526 239 673
United States 2.1 5,281 2,036 11 3,234
Switzerland 1.1 2,756 2,129 – 627
Netherlands 1.1 2,740 1,761 6 973
At 31st December 1998
United States 3.3 7,211 2,864 54 4,293
Germany 1.4 3,142 2,932 6 204
France 1.4 3,094 2,784 8 302
Netherlands 1.3 2,772 1,395 5 1,372
Japan 1.1 2,420 1,720 1 699

Cross-border outstandings between 0.75% and 1% of assets
At 31st December 2000, The Netherlands and France had cross-border outstandings of between 0.75% and 1% of total Group
assets amounting to £5,745m. At 31st December 1999, Canada and Japan had cross-border outstandings of between 0.75% and
1% of total Group assets amounting to £4,320m. At 31st December 1998, Barclays had no countries with cross-border outstandings of between 0.75% and 1% of total Group assets.