The Group’s approach to the management of financial risks is set out in note 19. The Group’s outstanding derivative financial instruments are as follows:
| 2017 | 2016 | |||||||||||||||||||||||
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All figures in £ millions |
Gross notional amounts |
Assets | Liabilities | Gross notional amounts |
Assets | Liabilities | ||||||||||||||||||
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Interest rate derivatives – in a fair value hedge relationship |
799 | 23 | — | 2,157 | 68 | (4 | ) | |||||||||||||||||
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Interest rate derivatives – not in a hedge relationship |
429 | 3 | — | 1,187 | 3 | (7 | ) | |||||||||||||||||
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Cross-currency rate derivatives – in a hedge relationship |
1,522 | 114 | (140 | ) | 1,622 | 100 | (253 | ) | ||||||||||||||||
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Total |
2,750 | 140 | (140 | ) | 4,966 | 171 | (264 | ) | ||||||||||||||||
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Analysed as expiring: |
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In less than one year |
— | — | — | 162 | — | — | ||||||||||||||||||
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Later than one year and not later than five years |
1,638 | 65 | (95 | ) | 2,776 | 86 | (157 | ) | ||||||||||||||||
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Later than five years |
1,112 | 75 | (45 | ) | 2,028 | 85 | (107 | ) | ||||||||||||||||
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Total |
2,750 | 140 | (140 | ) | 4,966 | 171 | (264 | ) | ||||||||||||||||
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