# Barclays PLC Q1 2025 Pillar 3 Report
31 March 2025

## Table of Contents

| Barclays PLC Pillar 3 | Page |
| :--- | :--- |
| Notes | |
| Forward-looking statements | 3 |
| Introduction | |
| Disclosure Background | 4 |
| Summary | |
| KM1 - Key Metrics | 5 |
| Risk weighted assets (RWAs) | |
| RWAs by risk type and business | 7 |
| OV1 - Overview of risk weighted exposure amounts | 8 |
| CR8 - RWEA flow statements of credit risk exposures under the IRB approach | 9 |
| CCR7 - RWEA flow statements of counterparty credit risk exposures under the IMM | 9 |
| MR2-B - RWA flow statements of market risk exposures under the IMA | 10 |
| Minimum Requirements for own funds and Eligible Liabilities (MREL) | |
| KM2 - Key Metrics – TLAC Requirements | 11 |
| Liquidity | |
| LIQ1 - Liquidity Coverage ratio | 12 |

---

## Notes on basis of preparation

The terms "Barclays" or "Group" refer to Barclays PLC together with its subsidiaries. The abbreviations '£m' and '£bn' represent millions and thousands of millions of Pounds Sterling respectively.

There are a number of key judgement areas, for example impairment calculations, which are based on models and which are subject to ongoing adjustment and modifications. Reported numbers reflect best estimates and judgements at the given point in time.

Relevant terms that are used in this document but are not defined under applicable regulatory guidance or the International Financial Reporting Standards (IFRS) are explained in the results glossary that can be accessed at home.barclays/investor-relations/reports-and-events/financial-results.

### Forward-looking statements

This document contains certain forward-looking statements within the meaning of Section 21E of the US Securities Exchange Act of 1934, as amended, and Section 27A of the US Securities Act of 1933, as amended, with respect to the Group. Barclays cautions readers that no forward-looking statement is a guarantee of future performance and that actual results or other financial condition or performance measures could differ materially from those contained in the forward-looking statements. Forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements sometimes use words such as 'may', 'will', 'seek', 'continue', 'aim', 'anticipate', 'target', 'projected', 'expect', ‘estimate', 'intend', 'plan', 'goal', 'believe', 'achieve' or other words of similar meaning. Forward-looking statements can be made in writing but also may be made verbally by directors, officers and employees of the Group (including during management presentations) in connection with this document. Examples of forward-looking statements include, among others, statements or guidance regarding or relating to the Group's future financial position, business strategy, income levels, costs, assets and liabilities, impairment charges, provisions, capital leverage and other regulatory ratios, capital distributions (including policy on dividends and share buybacks), return on tangible equity, projected levels of growth in banking and financial markets, industry trends, any commitments and targets (including environmental, social and governance (“ESG”) commitments and targets), plans and objectives for future operations, International Financial Reporting Standards (“IFRS”) and other statements that are not historical or current facts. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances. Forward-looking statements speak only as at the date on which they are made. Forward-looking statements may be affected by a number of factors, including, without limitation: changes in legislation, regulations, governmental and regulatory policies, expectations and actions, voluntary codes of practices and the interpretation thereof, changes in IFRS and other accounting standards, including practices with regard to the interpretation and application thereof and emerging and developing sustainability reporting standards (including emissions accounting methodologies); the outcome of current and future legal proceedings and regulatory investigations; the Group's ability along with governments and other stakeholders to measure, manage and mitigate the impacts of climate change effectively or navigate inconsistencies and conflicts in the manner in which climate policy is implemented in the regions where the Group operates, including as a result of the adoption of anti-ESG rules and regulations, or other forms of governmental and regulatory action against ESG policies; environmental, social and geopolitical risks and incidents and similar events beyond the Group's control; financial crime; the impact of competition in the banking and financial services industry; capital, liquidity, leverage and other regulatory rules and requirements applicable to past, current and future periods; UK, US, Eurozone and global macroeconomic and business conditions, including inflation; volatility in credit and capital markets; market related risks such as changes in interest rates and foreign exchange rates; reforms to benchmark interest rates and indices; higher or lower asset valuations; changes in credit ratings of any entity within the Group or any securities issued by it; changes in counterparty risk; changes in consumer behaviour; changes in trade policy, including the imposition of tariffs or other protectionist measures; the direct and indirect consequences of the conflicts in Ukraine and the Middle East on European and global macroeconomic conditions, political stability and financial markets; political elections, including the impact of the US elections in 2024 and subsequent changes in legislation and policy; developments in the UK's relationship with the European Union; the risk of cyberattacks, information or security breaches, technology failures or operational disruptions and any subsequent impact on the Group's reputation, business or operations; the Group's ability to access funding; and the success of acquisitions (including the acquisition of Tesco Bank completed in November 2024), disposals, joint ventures and other strategic transactions. A number of these factors are beyond the Group's control. As a result, the Group's actual financial position, results, financial and non-financial metrics or performance measures or its ability to meet commitments and targets may differ materially from the statements or guidance set forth in the Group's forward-looking statements. In setting its targets and outlook for the period 2024-2026, Barclays has made certain assumptions about the macroeconomic environment, including, without limitation, inflation, interest and unemployment rates, the different markets and competitive conditions in which Barclays operates, and its ability to grow certain businesses and achieve costs savings and other structural actions. Additional risks and factors which may impact the Group's future financial condition and performance are identified in Barclays PLC's filings with the US Securities and Exchange Commission ("SEC") (including, without limitation, Barclays PLC's Annual Report on Form 20-F for the financial year ended 31 December 2024), which are available on the SEC's website at www.sec.gov.

Subject to Barclays PLC's obligations under the applicable laws and regulations of any relevant jurisdiction (including, without limitation, the UK and the US) in relation to disclosure and ongoing information, we undertake no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

---

## Introduction

### Disclosure Background

Barclays PLC Pillar 3 disclosures complement the Barclays PLC Q1 2025 Results Announcement and provide additional information about Barclays' risk profile, including its regulatory capital, minimum requirements for own funds and eligible liabilities (MREL), RWAs, liquidity and leverage exposures.

The Pillar 3 report is prepared in accordance with the UK Capital Requirements Regulation (UK CRR) and the Prudential Regulation Authority (PRA) Rulebook. In particular, the Disclosure (CRR) Part of the PRA Rulebook specifies the requirements of the Pillar 3 framework.

The terms risk weighted asset (RWA) and risk weighted exposure amount (RWEA) are used interchangeably throughout the document.

The disclosures included in this report reflect the Bank's interpretation of the current rules and guidance.

### Large subsidiaries

The Group's disclosable large subsidiaries as at 31 March 2025 are Barclays Bank PLC, Barclays Bank UK PLC, Barclays Bank Ireland PLC (BBI) and Barclays Capital Securities Limited (BCSL). The disclosures for these entities are published in standalone documents 'Barclays Bank PLC Pillar 3 Report', 'Barclays Bank UK PLC Pillar 3 Report', 'Barclays Bank Ireland PLC Pillar 3 report' and 'Barclays Capital Securities Limited Pillar 3 Report' respectively.

---

## Summary

### Table 1: KM1 - Key metrics (KM1 / UK LR 2) - Part 1
This table shows key regulatory metrics and ratios as well as related components such as own funds, RWAs, capital ratios, capital buffer requirements, leverage ratio, Liquidity Coverage Ratio (LCR), Net Stable Funding Ratio (NSFR) and additional requirements based on Supervisory Review and Evaluation Process (SREP). Part 2 of this table further includes all UK LR2 components which are required to be reported with a quarterly frequency as per Article 433a(4) of the Disclosure (CRR) Part of the PRA Rulebook.

| KM1 ref | | As at 31.03.25 £m | As at 31.12.24 £m | As at 30.09.24 £m | As at 30.06.24 £m | As at 31.03.24 £m |
| :--- | :--- | :--- | :--- | :--- | :--- | :--- |
| **Available own funds (amounts)** | | | | | | |
| 1 | Common Equity Tier 1 (CET1) capital¹ | 48,794 | 48,558 | 47,030 | 47,695 | 47,144 |
| 2 | Tier 1 capital¹ | 62,057 | 60,634 | 58,769 | 60,654 | 60,385 |
| 3 | Total capital ¹,² | 72,339 | 70,118 | 67,716 | 69,871 | 68,455 |
| **Risk-weighted exposure amounts** | | | | | | |
| 4 | Total risk-weighted exposure amount¹ | 351,314 | 358,127 | 340,401 | 351,433 | 349,635 |
| **Capital ratios (as a percentage of risk-weighted exposure amount)** | | | | | | |
| 5 | Common Equity Tier 1 ratio (%)\¹ | 13.9% | 13.6% | 13.8% | 13.6% | 13.5% |
| 6 | Tier 1 ratio (%)\¹ | 17.7% | 16.9% | 17.3% | 17.3% | 17.3% |
| 7 | Total capital ratio (%)\¹,² | 20.6% | 19.6% | 19.9% | 19.9% | 19.6% |
| **Additional own funds requirements based on SREP (as a percentage of risk-weighted exposure amount)** | | | | | | |
| UK 7a | Additional CET1 SREP requirements (%) | 2.7% | 2.6% | 2.6% | 2.6% | 2.6% |
| UK 7b | Additional AT1 SREP requirements (%) | 0.9% | 0.9% | 0.9% | 0.9% | 0.9% |
| UK 7c | Additional T2 SREP requirements (%) | 1.2% | 1.1% | 1.1% | 1.1% | 1.1% |
| UK 7d | Total SREP own funds requirements (%) | 12.8% | 12.6% | 12.6% | 12.6% | 12.6% |
| **Combined buffer requirement (as a percentage of risk-weighted exposure amount)** | | | | | | |
| 8 | Capital conservation buffer (%) | 2.5% | 2.5% | 2.5% | 2.5% | 2.5% |
| 9 | Institution specific countercyclical capital buffer (%) | 1.0% | 1.0% | 1.0% | 0.9% | 0.9% |
| 10 | Global Systemically Important Institution buffer (%) | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% |
| 11 | Combined buffer requirement (%) | 5.0% | 5.0% | 5.0% | 4.9% | 4.9% |
| UK 11a | Overall capital requirements (%) | 17.8% | 17.6% | 17.5% | 17.5% | 17.5% |
| 12 | CET1 available after meeting the total SREP own funds requirements (%) | 6.7% | 6.5% | 6.7% | 6.5% | 6.4% |

**Notes**
1. 2024 comparatives for Capital and RWAs have been calculated applying the IFRS 9 transitional arrangements in accordance with UK CRR. Effective from 1 January 2025, these IFRS9 transitional arrangements no longer applied.
2. Total capital is calculated applying the grandfathering of UK CRR non-compliant capital instruments included within Tier 2 capital until 28 June 2025. Fully loaded total capital was £72,086m.

The CET1 ratio increased by c.30bps to 13.9% (December 2024: 13.6%) as CET1 capital increased by £0.2bn to £48.8bn and RWAs decreased by £6.8bn to £351.3bn:
* c.50bps increase from attributable profit
* c.40bps decrease driven by shareholder distributions including the £1.0bn share buyback announced with FY24 Results and an accrual towards the FY25 dividend
* c.10bps increase from other CET1 capital movements
* c.10bps increase as a result of a £3.7bn decrease in RWAs, excluding the impact of foreign exchange movements, primarily driven by the disposal of the German consumer finance business
* A £0.5bn decrease in CET1 capital due to a decrease in the currency translation reserve was broadly offset by a £3.1bn decrease in RWAs as a result of foreign exchange movements

### Table 1: KM1 - Key metrics (KM1 / UK LR 2) - Part 2

| KM1 ref | LR 2 Ref | Leverage ratio | As at 31.03.25 £m | As at 31.12.24 £m | As at 30.09.24 £m | As at 30.06.24 £m | As at 31.03.24 £m |
| :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- |
| **Leverage ratio** | | | | | | | |
| 13 | 25 | Total exposure measure excluding claims on central banks¹ | 1,252,827 | 1,206,502 | 1,197,445 | 1,222,722 | 1,226,450 |
| 14 | | Leverage ratio excluding claims on central banks (%) 1,4 | 5.0% | 5.0% | 4.9% | 5.0% | 4.9% |
| | **Additional leverage ratio disclosure requirements** | | | | | | |
| UK 14a | UK 25a | Fully loaded ECL accounting model leverage ratio excluding claims on central banks (%)² | 5.0% | 5.0% | 4.9% | 5.0% | 4.9% |
| UK 14b | UK 25c | Leverage ratio including claims on central banks (%)¹ | 4.1% | 4.2% | 4.1% | 4.1% | 4.0% |
| UK 32 | Average total exposure measure excluding claims on central banks,3 | 1,340,481 | 1,308,335 | 1,277,714 | 1,300,424 | 1,295,509 |
| UK 14c | UK 34 | Average leverage ratio excluding claims on central banks (%) 1,3 | 4.6% | 4.6% | 4.6% | 4.7% | 4.7% |
| UK 14d | UK 33 | Average leverage ratio including claims on central banks (%) 1,3 | 3.9% | 3.9% | 3.9% | 3.9% | 3.9% |
| UK 27 | Leverage ratio buffer (%)⁴ | 0.8% | 0.8% | 0.8% | 0.8% | 0.8% |
| UK 27a | Of which: G-SII or O-SII additional leverage ratio buffer (%) | 0.5% | 0.5% | 0.5% | 0.5% | 0.5% |
| UK 14e | UK 27b | Of which: Countercyclical leverage ratio buffer (%) | 0.3% | 0.3% | 0.3% | 0.3% | 0.3% |
| | **Liquidity Coverage Ratio** | | | | | | |
| 15 | | Total high-quality liquid assets (HQLA) (Weighted value) | 308,062 | 304,420 | 306,368 | 306,983 | 305,413 |
| UK 16a | | Cash outflows - Total weighted value | 322,090 | 312,952 | 304,205 | 296,444 | 286,082 |
| UK 16b | | Cash inflows - Total weighted value | 145,989 | 136,092 | 123,825 | 112,266 | 98,464 |
| 16 | | Total net cash outflows (adjusted value) | 176,101 | 176,860 | 180,381 | 184,177 | 187,618 |
| 17 | | Liquidity coverage ratio (%)\⁵ | 175.3% | 172.4% | 170.1% | 167.0% | 163.0% |
| | **Net Stable Funding Ratio** | | | | | | |
| 18 | | Total available stable funding | 637,520 | 629,580 | 625,075 | 622,089 | 610,739 |
| 19 | | Total required stable funding | 468,058 | 466,652 | 461,078 | 456,232 | 450,337 |
| 20 | | NSFR ratio (%) | 136.2% | 134.9% | 135.6% | 136.4% | 135.7% |

**Notes**
1. 2024 comparatives for UK leverage ratios have been calculated applying the IFRS 9 transitional arrangements in accordance with UK CRR. Effective from 1 January 2025, these IFRS9 transitional arrangements no longer applied.
2. 2024 comparatives for fully loaded UK leverage ratio have been calculated without applying the IFRS 9 transitional arrangements in accordance with UK CRR. Effective from 1 January 2025, the IFRS9 transitional arrangements no longer applied.
3. Average UK leverage ratios use capital based on the last day of each month in the quarter and an exposure measure for each day in the quarter.
4. Although the UK leverage ratio is expressed in terms of Tier 1 capital, the leverage ratio buffers and 75% of the minimum requirement must be covered solely with CET1 capital. The CET1 capital held against the 0.53% G-SII ALRB was £6.6bn and against the 3.0% CCLB was £3.8bn.
5. LCR is computed as a trailing average of the last 12 month-end ratios.
6. NSFR is computed as a trailing average of the last four spot quarter end positions.

The UK leverage ratio remained stable at 5.0% (December 2024: 5.0%), as the leverage exposure increased by £46.3bn to £1,252.8bn (December 2024: £1,206.5bn) partially offset by an increase in T1 capital of £1.4bn. The increase in exposure was largely driven by an increase in trading activity within the Investment Bank (IB).

The average LCR for the 12 months to 31 March 2025 increased to 175.3% (December 2024: 172.4%), with average HQLA increasing by £3.6bn and average net cash outflows decreasing by £0.8bn.

As at 31 March 2025, the trailing average NSFR for the last four spot quarter end positions was 136.2% (December 2024: 134.9%), equivalent to a surplus of £169.5bn (December 2024: £162.9bn) above the 100% regulatory requirement.

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## Risk weighted assets

### Table 2: RWAs by risk type and business
This table shows RWAs by business and risk type.

**As at 31 March 2025**

| | Credit risk | Counterparty credit risk | Market risk | Operational risk | Total RWAS |
| :--- | :--- | :--- | :--- | :--- | :--- |
| | Std £m | A-IRB £m | Std £m | A-IRB £m | Settlement risk £m | CVA £m | Std £m | IMA £m | Other £m | Total £m |
| Barclays UK | 15,346 | 56,050 | 140 | 5 | | | | 184 | | 13,196 | 84,968 |
| Barclays UK Corporate Bank | 3,780 | 16,213 | 105 | 348 | 11 | 2 | | 471 | | 3,282 | 24,212 |
| Barclays Private Bank & Wealth Management | 5,025 | 495 | 127 | 51 | 18 | | | 330 | | 1,870 | 7,964 |
| Barclays Investment Bank | 40,169 | 45,915 | 22,924 | 22,540 | 139 | 3,190 | 13,458 | 23,306 | | 24,293 | 195,934 |
| Barclays US Consumer Bank | 19,723 | 993 | | | | | | | | 4,856 | 25,572 |
| Head Office | 5,516 | 5,808 | 1 | 13 | | | | 19 | 82 | 1,223 | 12,664 |
| **Barclays Group** | **89,559** | **125,474** | **23,297** | **22,957** | **139** | **3,268** | **13,711** | **24,189** | **82** | **48,720** | **351,314** |

**As at 31 December 2024**

| | Credit risk | Counterparty credit risk | Market risk | Operational risk | Total RWAS |
| :--- | :--- | :--- | :--- | :--- | :--- |
| | Std £m | A-IRB £m | Std £m | A-IRB £m | Settlement risk £m | CVA £m | Std £m | IMA £m | Other £m | Total £m |
| Barclays UK | 15,516 | 55,301 | 146 | 11 | | | 74 | 228 | | 13,181 | 84,457 |
| Barclays UK Corporate Bank | 3,932 | 15,680 | 106 | 336 | | 12 | 16 | 548 | | 3,282 | 23,912 |
| Barclays Private Bank & Wealth Management | 5,058 | 434 | 118 | 31 | | 16 | | 330 | | 1,859 | 7,890 |
| Barclays Investment Bank | 40,957 | 49,231 | 21,889 | 24,094 | 70 | 2,913 | 12,442 | 23,023 | | 24,164 | 198,783 |
| Barclays US Consumer Bank | 21,019 | 966 | | | | | | | | 4,864 | 26,849 |
| Head Office | 6,580 | 8,162 | 1 | 20 | | 4 | | 212 | | 1,257 | 16,236 |
| **Barclays Group** | **93,062** | **129,774** | **22,260** | **24,492** | **70** | **3,019** | **12,730** | **24,113** | **70** | **48,607** | **358,127** |

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### Table 3: OV1 - Overview of risk weighted exposure amounts
The table shows RWAs and minimum capital requirement by risk type and approach

| | Risk weighted exposure amounts (RWEAs) | Total own funds requirements |
| :--- | :--- | :--- |
| | As at 31.03.25 £m | As at 31.12.24 £m | As at 31.03.25 £m | As at 31.12.24 £m |
| 1 | Credit risk (excluding CCR) | 192,486 | 199,791 | 15,399 | 15,983 |
| 2 | Of which the standardised approach | 79,032 | 82,157 | 6,323 | 6,573 |
| 4 | Of which: slotting approach | 4,813 | 4,156 | 385 | 332 |
| 5 | Of which the advanced IRB (AIRB) approach | 108,641 | 113,478 | 8,691 | 9,078 |
| 6 | Counterparty credit risk - CCR | 49,466 | 49,739 | 3,957 | 3,979 |
| 7 | Of which the standardised approach | 5,054 | 4,856 | 404 | 388 |
| 8 | Of which internal model method | 30,155 | 31,186 | 2,412 | 2,495 |
| UK 8a | Of which exposures to a CCP | 2,406 | 2,261 | 193 | 181 |
| UK 8b | Of which credit valuation adjustment - CVA | 3,268 | 3,019 | 261 | 242 |
| 9 | Of which other CCR | 8,583 | 8,417 | 687 | 673 |
| 15 | Settlement risk | 139 | 70 | 11 | 6 |
| 16 | Securitisation exposures in the non-trading book (after the cap) | 22,603 | 23,077 | 1,808 | 1,846 |
| 17 | Of which SEC-IRBA approach | 12,020 | 12,141 | 961 | 971 |
| 18 | Of which SEC-ERBA (including IAA) | 2,326 | 2,426 | 186 | 194 |
| 19 | Of which SEC-SA approach | 8,223 | 8,487 | 658 | 679 |
| UK 19a | Of which 1250%/ deduction | 34 | 23 | 3 | 2 |
| 20 | Position, foreign exchange and commodities risks (Market risk) | 37,900 | 36,843 | 3,032 | 2,947 |
| 21 | Of which the standardised approach | 13,711 | 12,730 | 1,097 | 1,018 |
| 22 | Of which IMA | 24,189 | 24,113 | 1,935 | 1,929 |
| UK 22a | Large exposures | | | | |
| 23 | Operational risk | 48,720 | 48,607 | 3,898 | 3,889 |
| UK 23b | Of which standardised approach | 48,720 | 48,607 | 3,898 | 3,889 |
| 24 | Amounts below the thresholds for deduction (subject to 250% risk weight) (For information) | 10,552 | 10,814 | 844 | 865 |
| 29 | Total | 351,314 | 358,127 | 28,105 | 28,650 |

Total RWAs decreased by £6.8bn to £351.3bn in the quarter (December 2024: £358.1bn) primarily due to:
* Credit risk RWAs decreased by £7.3bn primarily due to business activity within IB, the disposal of the German consumer finance business and foreign exchange movements, partially offset by mortgage lending growth in Barclays UK
* Market risk RWAs increased by £1.1bn due to trading activity within Global Markets

---

### Table 4: CR8 - RWEA flow statements of credit risk exposures under the advanced IRB approach
The total in this table shows the contribution of credit risk RWAs under the AIRB approach excluding Securitisation and non-credit obligation assets and hence will not directly reconcile to the credit risk AIRB RWAs in table 2.

| | Three months ended 31 March 2025 £m |
| :--- | :--- |
| 1 | Risk weighted exposure amount as at the end of the previous reporting period | 109,363 |
| 2 | Asset size | (1,186) |
| 3 | Asset quality | (227) |
| 4 | Model updates | 29 |
| 5 | Methodology and policy | (2,106) |
| 6 | Acquisitions and disposals | (521) |
| 7 | Foreign exchange movements | |
| 8 | Other | |
| 9 | Risk weighted exposure amount as at the end of the reporting period | 105,352 |

Advanced credit risk RWAs decreased by £4.0bn to £105.4bn in the quarter (December 2024: £109.4bn) driven by:
* A £1.2bn decrease in asset size primarily due to business activity within IB, partially offset by mortgage lending growth in Barclays UK
* A £2.1bn decrease in acquisitions and disposals reflecting the sale of the German consumer finance business

### Table 5: CCR7 - RWEA flow statements of CCR exposures under the IMM
The total in this table shows the contribution of Internal Model Method (IMM) exposures to CCR RWAs (under both standardised and AIRB) and will not directly reconcile to the CCR AIRB RWAs in table 2. RWEA changes due to IRB models are included in 'Credit quality of counterparties'.

| | Three months ended 31 March 2025 £m |
| :--- | :--- |
| 1 | Risk weighted exposure amount as at the end of the previous reporting period | 31,186 |
| 2 | Asset size | (397) |
| 3 | Credit quality of counterparties | (111) |
| 4 | Model updates (IMM only) | — |
| 5 | Methodology and policy (IMM only) | — |
| 6 | Acquisitions and disposals | — |
| 7 | Foreign exchange movements | (523) |
| 8 | Other | |
| 9 | Risk weighted exposure amount as at the end of the reporting period | 30,155 |

### Table 6: MR2-B – RWA flow statements of market risk exposures under the IMA
This table shows the contribution of market risk RWA covered by internal models (i.e. VaR, stressed value at risk (SVaR) and incremental risk charge (IRC)).

| | VaR £m | SVaR £m | IRC £m | Other £m | Total RWEAs £m | Total own funds requirements £m |
| :--- | :--- | :--- | :--- | :--- | :--- | :--- |
| 1 | RWAs at previous period end | 4,171 | 10,019 | 5,397 | 4,526 | 24,113 | 1,929 |
| 1a | Regulatory adjustment¹ | (2,011) | (3,550) | (347) | | (5,908) | (473) |
| 1b | RWAs at the previous quarter-end (end of the day) | 2,160 | 6,469 | 5,050 | 4,526 | 18,205 | 1,456 |
| 2 | Movement in risk levels | (365) | (1,504) | (1,069) | (342) | (3,280) | (262) |
| 3 | Model updates/changes | — | — | — | — | — | — |
| 4 | Methodology and policy | — | — | — | — | — | — |
| 5 | Acquisitions and disposals | — | — | — | — | — | — |
| 8a | RWAs at the end of the disclosure period (end of the day) | 1,795 | 4,965 | 3,981 | 4,184 | 14,925 | 1,194 |
| 8b | Regulatory adjustment² | 2,011 | 5,426 | 1,827 | | 9,264 | 741 |
| 8 | RWAs at the end of the disclosure period | 3,806 | 10,391 | 5,808 | 4,184 | 24,189 | 1,935 |

**Notes**
1. Row 1a reflects the difference between reported RWA (row 1) and the relevant spot measure (row 1b) for the previous period.
2. Row 8b reflects the difference between the relevant spot measure (row 8a) and reported RWA (row 8) for the current period.

Modelled market risk RWAs remained stable at £24.2bn in the quarter (December 2024: £24.1bn).

---

## Minimum requirement for own funds and eligible liabilities (MREL)

### Table 7: KM2 - Key metrics - TLAC requirements (at resolution group level)
This table shows the key metrics for the Group's own funds and eligible liabilities.

| | | As at 31.03.25 £m | As at 31.12.24 £m | As at 30.09.24 £m | As at 30.06.24 £m | As at 31.03.24 £m |
| :--- | :--- | :--- | :--- | :--- | :--- | :--- |
| 1 | Total Loss Absorbing Capacity (TLAC) available¹ | 127,161 | 123,298 | 118,667 | 117,785 | 116,824 |
| 2 | Total RWA at the level of the resolution group | 351,314 | 358,127 | 340,401 | 351,433 | 349,635 |
| 3 | TLAC as a percentage of RWA (row 1 / row 2) (%) | 36.2% | 34.4% | 34.9% | 33.5% | 33.4% |
| 4 | Leverage ratio exposure measure at the level of the resolution group | 1,252,827 | 1,206,502 | 1,197,465 | 1,222,722 | 1,226,450 |
| 5 | TLAC as a percentage of leverage ratio exposure measure (row 1/row 4) (%) | 10.1% | 10.2% | 9.9% | 9.6% | 9.5% |
| 6a | Does the subordination exemption in the antepenultimate paragraph of Section 11 of the FSB TLAC Term Sheet apply? | No | No | No | No | No |
| 6b | Does the subordination exemption in the penultimate paragraph of Section 11 of the FSB TLAC Term Sheet apply? | No | No | No | No | No |
| 6c | If the capped subordination exemption applies, the amount of funding issued that ranks pari passu with Excluded Liabilities and that is recognised as external TLAC, divided by funding issued that ranks pari passu with Excluded Liabilities and that would be recognised as external TLAC if no cap was applied (%) | N/A | N/A | N/A | N/A | N/A |

**Notes**
1. 2024 comparatives for TLAC have been calculated applying the IFRS 9 transitional arrangements in accordance with UK CRR. Effective from 1 January 2025, these IFRS9 transitional arrangements no longer applied.

As at 31 March 2025, Barclays PLC held £127.2bn (December 2024: £123.3bn) of own funds and eligible liabilities equating to 36.2% of RWAs. This was in excess of the Group's MREL requirement, excluding a confidential institution-specific PRA buffer, to hold £107.7bn of own funds and eligible liabilities equating to 30.7% of RWAs. The Group remains above its MREL regulatory requirement, including the above mentioned confidential institution-specific PRA buffer.

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## Liquidity

### Table 8: LIQ1 - Liquidity Coverage Ratio
This table shows the level and components of the Liquidity Coverage Ratio.

#### LIQ1 - Liquidity coverage ratio (average)

| UK1a | | Total unweighted value (average) | | | | | Total weighted value (average) | | | | |
| :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- |
| | | 31.03.25 £m | 31.12.24 £m | 30.09.24 £m | 30.06.24 £m | 31.03.25 £m | 31.12.24 £m | 30.09.24 £m | 30.06.24 £m |
| UK1b | Number of data points used in calculation of averages¹ | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 |
| | **High-quality liquid assets** | | | | | | | | |
| 1 | Total high-quality liquid assets (HQLA) | 308,062 | 304,420 | 306,368 | 306,983 | | | | |
| | **Cash outflows** | | | | | | | | |
| 2 | Retail deposits and deposits from small business customers, of which: | 244,615 | 243,986 | 243,679 | 246,254 | 21,497 | 21,392 | 21,267 | 21,437 |
| 3 | Stable deposits | 119,992 | 120,303 | 121,151 | 123,148 | 6,000 | 6,015 | 6,058 | 6,157 |
| 4 | Less stable deposits | 113,925 | 112,929 | 111,687 | 112,362 | 15,140 | 15,017 | 14,850 | 14,945 |
| 5 | Unsecured wholesale funding, of which: | 231,650 | 230,293 | 231,745 | 233,478 | 102,562 | 103,798 | 107,392 | 111,818 |
| 6 | Operational deposits (all counterparties) and deposits in networks of cooperative banks | 97,255 | 95,004 | 91,513 | 84,489 | 23,987 | 23,438 | 22,577 | 20,824 |
| 7 | Non-operational deposits (all counterparties)² | 126,962 | 127,053 | 130,349 | 137,908 | 71,142 | 72,124 | 74,932 | 79,913 |
| 8 | Unsecured debt | 7,433 | 8,236 | 9,883 | 11,081 | 7,433 | 8,236 | 9,883 | 11,081 |
| 9 | Secured wholesale funding | | | | | 86,779 | 84,916 | 81,949 | 80,275 |
| 10 | Additional requirements, of which: | 195,853 | 194,503 | 191,055 | 188,291 | 65,120 | 64,807 | 62,459 | 59,907 |
| 11 | Outflows related to derivative exposures and other collateral requirements | 31,194 | 31,197 | 30,097 | 28,055 | 24,853 | 24,930 | 23,950 | 22,127 |
| 12 | Outflows related to loss of funding on debt products | 4,964 | 4,938 | 4,308 | 4,166 | 4,964 | 4,938 | 4,308 | 4,166 |
| 13 | Credit and liquidity facilities | 159,695 | 158,368 | 156,650 | 156,070 | 35,303 | 34,939 | 34,201 | 33,614 |
| 14 | Other contractual funding obligations | 38,909 | 31,146 | 24,701 | 16,943 | 38,023 | 30,268 | 23,839 | 16,091 |
| 15 | Other contingent funding obligations | 223,116 | 219,233 | 215,964 | 213,121 | 8,109 | 7,771 | 7,299 | 6,916 |
| 16 | Total cash outflows | 787,010 | 757,711 | 736,070 | 710,035 | 322,090 | 312,952 | 304,205 | 296,444 |
| | **Cash inflows** | | | | | | | | |
| 17 | Secured lending (e.g. reverse repos) | 787,010 | 757,711 | 736,070 | 710,035 | 90,619 | 88,202 | 84,769 | 81,866 |
| 18 | Inflows from fully performing exposures | 14,862 | 15,031 | 14,357 | 14,079 | 10,752 | 10,917 | 10,340 | 10,249 |
| 19 | Other cash inflows³ | 49,041 | 41,322 | 33,204 | 24,653 | 44,618 | 36,973 | 28,716 | 20,151 |
| 20 | Total cash inflows | 850,913 | 814,064 | 783,631 | 748,767 | 145,989 | 136,092 | 123,825 | 112,266 |
| UK-20c | Inflows subject to 75% cap | 688,223 | 688,223 | 661,988 | 630,561 | 145,989 | 136,092 | 123,825 | 112,266 |
| UK-21 | Liquidity buffer | | | | | 308,062 | 304,420 | 306,368 | 306,983 |
| 22 | Total net cash outflows | | | | | 176,101 | 176,860 | 180,381 | 184,177 |
| 23 | Liquidity coverage ratio (% ) (average) | | | | | 175.3% | 172.4% | 170.1% | 167.0% |

**Notes**
1. LCR is computed as a trailing average of the last 12 month-end ratios.
2. Non-operational deposits in row 7 also includes excess operational deposits as defined in Article 27(4) of the Liquidity Coverage Ratio (CRR) Part of the PRA Rulebook.
3. Difference between total weighted inflows and total weighted outflows arising from transactions in third countries where there is transfer restrictions or which are denominated in non-convertible currencies.

The trailing 12 month-end average LCR to 31 March 2025 increased to 175.3% (December 2024: 172.4%) above the 100% regulatory requirement. The increase in LCR was driven by an increase in HQLA.

The composition of the liquidity pool is subject to limits set by the Board and the independent liquidity risk, credit risk and market risk functions. In addition, the investment of the liquidity pool is monitored for concentration risk by issuer, currency and asset type. Given the returns generated by these highly liquid assets, the risk and reward profile is continuously managed. As at 31 March 2025, 65% (December 2024: 60%) of the liquidity pool was located in Barclays Bank PLC, 20% (December 2024: 23%) in Barclays Bank UK Group and 8% (December 2024: 9%) in Barclays Bank Ireland PLC. The residual portion of the liquidity pool is held outside of these entities, predominantly in the US subsidiaries, to meet entity-specific stress outflows and local regulatory requirements. To the extent the use of this portion of the liquidity pool is restricted due to local regulatory requirements, it is assumed to be unavailable to the rest of the Group in calculating the LCR.

The strong deposit franchises in Barclays Bank PLC and Barclays Bank UK Group are primary funding sources for Barclays Group. The Group expects to continue issuing public wholesale debt from Barclays PLC (the Parent company), in order to maintain compliance with indicative MREL requirements and maintain a stable and diverse funding base by type, currency and market. Barclays Bank PLC continued to issue in the shorter-term markets and maintain active medium-term note programmes. Barclays Bank UK Group continued to issue in the shorter-term markets and maintain active secured funding programmes. This funding capacity enables the respective entities to maintain its stable and diversified funding base.

Barclays Bank PLC and Barclays Bank UK Group also support various central bank monetary initiatives, such as the Bank of England's Term Funding Scheme with additional incentives for SMEs (TFSME), and the European Central Bank's Targeted Long-Term Refinancing Operations (TLTRO). These are reported under 'repurchase agreements and other similar secured borrowing' on the balance sheet.