Barclays Plc · LSE:BARC
Barclays — Debt Investor Presentation (February 2017)
64 slides from Barclays's debt investor presentation, Feb 23, 2017
Slide 1: Barclays PLC Fixed Income Investor Presentation
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & PERFORMANCE & LEVERAGE & MREL REFORM Barclays PLC Fixed Income Investor Presentation FY 2016 Results Announcement 23 February 2017 | Barclays FY 2016 Fixed Income Investor Presentation
Slide 2: Strategy & Performance
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & & PERFORMANCE PERFORMANCE & LEVERAGE & MREL REFORM Strategy & Performance | Barclays FY 2016 Fixed Income Investor Presentation
Slide 3: Strong evidence of strategic progress in 2016
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & & PERFORMANCE PERFORMANCE & LEVERAGE & MREL REFORM Strong evidence of strategic progress in 2016 • Barclays UK 19.3% Strong Core business 9.4% Core RoTE1 • Barclays International 8.0% Non-Core rundown Accelerated
Slide 4: Strong Core business performance in 2016
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & & PERFORMANCE PERFORMANCE & LEVERAGE & MREL REFORM Strong Core business performance in 20162 Core Average allocated Income Cost: income ratio Profit before tax RoTE tangible equity £22.0bn 61% £6.4bn 9.4% £41.3bn
Slide 5: Africa sell-down on track with consistent capital guidance
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & & PERFORMANCE PERFORMANCE & LEVERAGE & MREL REFORM Africa sell-down on track with consistent capital guidance Separation £765m phased 1 terms agreed contributions to BAGL agreed3 Major milestone Regulatory Approva
Slide 6: Announcing Non-Core closure six months early at June 2017
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & & PERFORMANCE PERFORMANCE & LEVERAGE & MREL REFORM Announcing Non-Core closure six months early at June 2017 RWAs (£bn)5 Businesses RWAs (£bn)6 Significant deals announced Dec-14 Dec-16 As at or completed 30 June
Slide 7: Operational and technological strength will be a key advantage
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & & PERFORMANCE PERFORMANCE & LEVERAGE & MREL REFORM Operational and technological strength will be a key advantage Barclays UK Barclays International Wealth, Barclaycard Corporate & Consumer, Personal Entrepreneurs
Slide 8: FY16 Statutory Group results
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & & PERFORMANCE PERFORMANCE & LEVERAGE & MREL REFORM FY16 Statutory Group results Year ended – December (£m) 2016 2015 % change FY16 performance metrics Income 21,451 22,040 (3%) • Profit before tax increased 182% t
Slide 9: FY16 and Q4 Core financials excluding notable items
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & & PERFORMANCE PERFORMANCE & LEVERAGE & MREL REFORM FY16 and Q4 Core financials excluding notable items Year ended – December (£m) Three months ended (£m) 2016 2015 % change Dec-16 Dec-15 % change Income 22,035 20,
Slide 10: Non-Core: Accelerated rundown throughout 2016
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & & PERFORMANCE PERFORMANCE & LEVERAGE & MREL REFORM Non-Core: Accelerated rundown throughout 2016 Business performance excluding notable items Q416 vs. Q316 performance metrics Three months ended Year ended • Loss
Slide 11: Capital & Leverage
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & PERFORMANCE & LEVERAGE & MREL REFORM Capital & Leverage | Barclays FY 2016 Fixed Income Investor Presentation
Slide 12: Strong CET1 and leverage ratio progression
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & PERFORMANCE & LEVERAGE & MREL REFORM Strong CET1 and leverage ratio progression Fully Loaded CET1 ratio10 • The CET1 ratio increased to 12.4% (Dec-15: 11.4%) reflecting an increase in CET1 capital of £4.5bn to £45
Slide 13: Managing evolving future minimum CET1 levels
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & PERFORMANCE & LEVERAGE & MREL REFORM Managing evolving future minimum CET1 levels Illustrative evolution of minimum CET1 requirements and buffers12 Minimum CRD IV CET1 requirement Mandatory distribution restrictio
Slide 14: Evolving CRD IV capital structure transitioning to HoldCo over time
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & PERFORMANCE & LEVERAGE & MREL REFORM Evolving CRD IV capital structure transitioning to HoldCo over time Illustrative evolution of CRD IV capital structure18 Well managed and balanced total capital structure 19.6%
Slide 15: Managing capital position above mandatory distribution restrictions and stress test hurdles
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & PERFORMANCE & LEVERAGE & MREL REFORM Managing capital position above mandatory distribution restrictions and stress test hurdles20 Barclays’ expected MDA thresholds and systemic reference points for 2017 BoE stres
Slide 16: Current position supports strong distribution capacity
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & PERFORMANCE & LEVERAGE & MREL REFORM Current position supports strong distribution capacity Distribution capacity Distributable items ADI BPLC Dividend payments BPLC AT1 coupons • Barclays PLC has significant avai
Slide 17: Continued strong leverage position
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & PERFORMANCE & LEVERAGE & MREL REFORM Continued strong leverage position Leverage ratio11 Highlights Leverage exposure (£bn) Q416 1,365 1,233 1,185 1,125 • The 40bps increase was mainly due to a £60bn decrease in t
Slide 18: Liquidity, Funding and MREL
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & PERFORMANCE & LEVERAGE & MREL REFORM Liquidity, Funding and MREL | Barclays FY 2016 Fixed Income Investor Presentation
Slide 19: High level of liquidity and conservative funding profile
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & PERFORMANCE & LEVERAGE & MREL REFORM High level of liquidity and conservative funding profile LCR27 continues to remain in prudential surplus Conservative and stable funding profile (£bn – excludes BAGL) Customer
Slide 20: Manageable MREL requirements through proactive issuance
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & PERFORMANCE & LEVERAGE & MREL REFORM Manageable MREL requirements through proactive issuance30 HoldCo MREL position and requirements based on Nov-16 BoE policy statement30 HoldCo issuance plan of c.£10bn for 20173
Slide 21: Proactive transition to HoldCo capital and funding model
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & PERFORMANCE & LEVERAGE & MREL REFORM Proactive transition to HoldCo capital and funding model HoldCo issuance by year30,34 Senior Unsecured Tier 2 HoldCo Snr: 2.5% (£9.3bn) • The Group made strong progress on its
Slide 22: Continued progress on transition to HoldCo capital and funding model
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & PERFORMANCE & LEVERAGE & MREL REFORM Continued progress on transition to HoldCo capital and funding model PRA transitional regulatory capital Outstanding term vanilla senior unsecured debt (£bn) Dec-15 Dec-16 (£bn
Slide 23: Structural Reform
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & PERFORMANCE & LEVERAGE & MREL REFORM Structural Reform | Barclays FY 2016 Fixed Income Investor Presentation
Slide 24: Structural reform plan is on track achieving critical milestones as planned
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & PERFORMANCE & LEVERAGE & MREL REFORM Structural reform plan is on track achieving critical milestones as planned H2 2017 Group Service Company setup H1 2018 Legal entity separation Milestones completed Milestones
Slide 25: Simplifying our business divisions for structural reform
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & PERFORMANCE & LEVERAGE & MREL REFORM Simplifying our business divisions for structural reform Barclays Barclays PLC PLC1 Barclays UK Barclays International Non-Core Africa Banking Aim to achieve UK consumer and bu
Slide 26: Progress on Group legal structure
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & PERFORMANCE & LEVERAGE & MREL REFORM Progress on Group legal structure Barclays PLC39 Barclays UK Barclays International constructs Divisional UK consumer and business bank Diversified transatlantic wholesale diff
Slide 27: Anticipated funding sources of future UK ring-fenced bank and Barclays Bank PLC
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & PERFORMANCE & LEVERAGE & MREL REFORM Anticipated funding sources of future UK ring-fenced bank and Barclays Bank PLC (and subsidiaries) Barclays PLC39 Barclays UK Barclays International constructs Divisional UK co
Slide 28: Asset Quality
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & PERFORMANCE & LEVERAGE & MREL REFORM Asset Quality | Barclays FY 2016 Fixed Income Investor Presentation
Slide 29: Underlying stable trends reflect prudent approach to credit risk management
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & PERFORMANCE & LEVERAGE & MREL REFORM Underlying stable trends reflect prudent approach to credit risk management Prudent risk management Retail CRL % of gross loans and advances (L&A) 104% 119% • Remain well-posit
Slide 30: Level 3 assets
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & PERFORMANCE & LEVERAGE & MREL REFORM Level 3 assets 31 December 2015 (£bn) 31 December 2016 (£bn) 0.5 Other Non current assets 6.0 classified as held for disposal ESHLA Derivative ESHLA FV assets 8.5 financial ass
Slide 31: Credit Ratings
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & PERFORMANCE & LEVERAGE & MREL REFORM Credit Ratings | Barclays FY 2016 Fixed Income Investor Presentation
Slide 32: Ratings are a key strategic priority
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & PERFORMANCE & LEVERAGE & MREL REFORM Ratings are a key strategic priority Senior Long Term/ Rating priorities Fitch Standard & Poor’s Moody's Short Term ratings • Barclays is committed to maintaining solid investm
Slide 33: Barclays rating composition for senior debt
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & PERFORMANCE & LEVERAGE & MREL REFORM Barclays rating composition for senior debt Standard & Poor’s Moody’s Fitch Stand-Alone Credit Profile bbb+ Baseline Credit Assessment baa2 Viability Ratings a Anchor bbb+ Macr
Slide 34: Barclays rating composition for subordinated debt
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & PERFORMANCE & LEVERAGE & MREL REFORM Barclays rating composition for subordinated debt Standard & Poor’s Moody’s Fitch Baseline Stand-alone Stand-Alone Viability bbb+ Credit baa2 a rating Credit Profile Assessment
Slide 35: Appendix
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & PERFORMANCE & LEVERAGE & MREL REFORM Appendix | Barclays FY 2016 Fixed Income Investor Presentation
Slide 36: Our strategy is on track with encouraging progress
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & PERFORMANCE & LEVERAGE & MREL REFORM Our strategy is on track with encouraging progress Secret Benefits of diversification by customer, product and geography showing through Core business delivering attractive ret
Slide 37: FY16 and Q4 Group financials excluding notable items
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & PERFORMANCE & LEVERAGE & MREL REFORM FY16 and Q4 Group financials excluding notable items Year ended – December (£m) Three months ended (£m) 2016 2015 % change Dec-16 Dec-15 % change Income 20,871 21,114 (1%) 4,94
Slide 38: Breakdown of RoTE by business – FY16
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & PERFORMANCE & LEVERAGE & MREL REFORM Breakdown of RoTE by business – FY16 Return on average tangible equity38 FY15 FY16 21.1% 19.3% 18.9% 19.1% 11.2% 9.4% 9.5% 8.0% 8.2% 5.8% 6.1% 4.4% Group Core 44 Barclays UK Ba
Slide 39: Core income and margins – Q416
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & PERFORMANCE & LEVERAGE & MREL REFORM Core income and margins – Q416 Income (£m)38 – Three months ended Dec-16 Dec-15 % change • Core income increased 14% driven by a 31% increase in non-interest income – Barclays
Slide 40: Barclays UK: Robust RoTE of 17.1% as PBT increased 7%
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & PERFORMANCE & LEVERAGE & MREL REFORM Barclays UK: Robust RoTE of 17.1% as PBT increased 7% Business performance excluding notable items Q416 performance metrics Three months ended (£m) Dec-16 Dec-15 % change • Inc
Slide 41: Barclays UK: Resilient NIM and prudent growth in balances
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & PERFORMANCE & LEVERAGE & MREL REFORM Barclays UK: Resilient NIM and prudent growth in balances Income (£m) – Three months ended Dec-16 Dec-15 % change Stable income Net interest income (NII) 1,502 1,509 - • Broadl
Slide 42: Barclays is a major contributor to the UK economy
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & PERFORMANCE & LEVERAGE & MREL REFORM Barclays is a major contributor to the UK economy47 Provided c.£70bn of Provided c.£19bn of lending to UK mortgage lending to businesses c.90,000 households Involved in c.160 U
Slide 43: Barclays UK: Growth through leadership in digital banking
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & PERFORMANCE & LEVERAGE & MREL REFORM Barclays UK: Growth through leadership in digital banking Significant growth in digital banking year-on-year Annual unsecured lending originated and fulfilled digitally £bn Bar
Slide 44: Barclays International: Encouraging performance in CIB and strong growth in Consumer, Cards & Payments
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & PERFORMANCE & LEVERAGE & MREL REFORM Barclays International: Encouraging performance in CIB and strong growth in Consumer, Cards & Payments Business performance excluding notable items Q416 performance metrics Thr
Slide 45: Barclays International: Corporate & Investment Bank
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & PERFORMANCE & LEVERAGE & MREL REFORM Barclays International: Corporate & Investment Bank Income increase demonstrating franchise strength Business performance excluding notable items Q416 performance metrics Three
Slide 46: Barclays International: Consumer, Cards & Payments
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & PERFORMANCE & LEVERAGE & MREL REFORM Barclays International: Consumer, Cards & Payments Strong income and balance growth Business performance excluding notable items Q416 performance metrics Three months ended (£m
Slide 47: Barclays UK and Barclays International analysis
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & PERFORMANCE & LEVERAGE & MREL REFORM Barclays UK and Barclays International analysis Barclays UK – Q416 Barclays International – Q416 Split of income (£m) Split of impairment (£m) Split of income (£m) 12 387 50 1,
Slide 48: Intend to close Non-Core six months early at June 2017 with c.£25bn of RWAs
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & PERFORMANCE & LEVERAGE & MREL REFORM Intend to close Non-Core six months early at June 2017 with c.£25bn of RWAs RWAs – Rundown and guidance (£bn)55 Income – Quarterly progression (£m) 110 44 10 32 c.25 17 7 12 Q4
Slide 49: Non-Core 2017 loss before tax expected to be approximately £1bn
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & PERFORMANCE & LEVERAGE & MREL REFORM Non-Core 2017 loss before tax expected to be approximately £1bn, weighted towards the first half of the year Income (£m) Costs (£m) FY17 FY18 FY14 FY15 FY16 Guidance Guidance 3
Slide 50: Driving cost efficiency towards our target
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & PERFORMANCE & LEVERAGE & MREL REFORM Driving cost efficiency towards our target Group costs (£bn)53 • 1% reduction in Group incentive awards granted in 2016 19.5 • £0.4bn charge due to 17.6 changes to 2016 compens
Slide 51: Aligning income statement recognition more closely with performance awards
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & PERFORMANCE & LEVERAGE & MREL REFORM Aligning income statement recognition more closely with performance awards Reduction of 1% in incentive awards granted, but changes to 2016 compensation awards increased the in
Slide 52: FY16 and Q416 Head Office financials ex. notable items
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & PERFORMANCE & LEVERAGE & MREL REFORM FY16 and Q416 Head Office financials ex. notable items Year ended – December (£m) Three months ended (£m) 2016 2015 Dec-16 Dec-15 Income 138 (92) (55) (110) Impairment - - - -
Slide 53: FY16 and Q416 Africa Banking financials
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & PERFORMANCE & LEVERAGE & MREL REFORM FY16 and Q416 Africa Banking financials Year ended – December (£m) Three months ended (£m) 2016 2015 % change Dec-16 Dec-15 % change Income 3,746 3,414 10% 1,067 814 31% Impair
Slide 54: UK approach to resolution
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & PERFORMANCE & LEVERAGE & MREL REFORM UK approach to resolution Illustrative UK resolution loss allocation waterfall assuming multiple OpCos62 OpCo waterfall Intercompany investments HoldCo waterfall • BRRD PONV wr
Slide 55: Wholesale funding composition
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & PERFORMANCE & LEVERAGE & MREL REFORM Wholesale funding composition65 >1 month >3 months >6 months >1 year >2 year >3 year >4 year Total As at 31 December 2016 (£bn) ≤1 month but ≤3 but ≤6 but ≤12 ≤1 year but ≤2 bu
Slide 56: Footnotes
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & PERFORMANCE & LEVERAGE & MREL REFORM Footnotes 1 FY16 RoTEs excluding notable items | 2 All financial metrics are FY16 excluding notable items. Deltas represent the year-on-year change | 3 Subject to regulatory ap
Slide 57: Footnotes (continued)
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & PERFORMANCE & LEVERAGE & MREL REFORM Footnotes (continued) 33 Aggregated Tier 1 and Tier 2 capital instruments, and public and private senior unsecured debt, excluding structured notes | 34 Annual issuance balance
Slide 58: Index
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & PERFORMANCE & LEVERAGE & MREL REFORM Index Version 4 Strategy & Performance 2 Structural Reform 23 • Strong evidence of strategic progress in 2016 3 • Structural reform plan is on track achieving critical mileston
Slide 59: Index (continued)
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & PERFORMANCE & LEVERAGE & MREL REFORM Index (continued) Appendix 35 • Footnotes 56 • Our strategy is on track with encouraging progress 36 • Footnotes (continued) 57 • FY16 and Q4 Group financials excluding notable
Slide 60: Contact – Debt Investor Relations Team
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & PERFORMANCE & LEVERAGE & MREL REFORM Contact – Debt Investor Relations Team Lisa Bartrip Dan Colvin +44 (0)20 7773 0708 +44 (0)20 7116 6533 lisa.bartrip@barclays.com daniel.colvin@barclays.com Website: barclays.co
Slide 61: Disclaimer
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & PERFORMANCE & LEVERAGE & MREL REFORM Disclaimer Important Notice The information, statements and opinions contained in this presentation do not constitute a public offer under any applicable legislation, an offer
Slide 62: Disclaimer (continued)
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & PERFORMANCE & LEVERAGE & MREL REFORM Disclaimer (continued) Certain non-IFRS Measures Barclays management believes that the non-International Financial Reporting Standards (non-IFRS) measures included in this docu
Slide 63: Disclaimer (continued)
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & PERFORMANCE & LEVERAGE & MREL REFORM Disclaimer (continued) • Cost: income ratio excluding notable items represents the ratio between total operating expenses excluding notable items and total income excluding not
Slide 64: Disclaimer (continued)
STRATEGY CAPITAL LIQUIDITY, FUNDING STRUCTURAL ASSET QUALITY CREDIT RATINGS APPENDIX & PERFORMANCE & LEVERAGE & MREL REFORM Disclaimer (continued) • Total operating expenses excluding conduct and litigation charges represents total operating expenses excluding the impact of provisions for UK custome
Barclays — Debt Investor Presentation (February 2017) on 6ix