International Financial Reporting Standards (IFRS) basis unaudited financial information

Notes on the IFRS basis results

J. Other borrowings

	30 Jun 2007 £m	30 Jun 2006 £m	31 Dec 2006 £m
Operational borrowings attributable to shareholder-financed operations
Borrowings in respect of short-term fixed income securities programmes	2,045	1,500	2,032
Non-recourse borrowings of investment subsidiaries managed by PPM America	544	943	743
Borrowings in respect of banking operations	–	3,535	2,819
Other borrowings	16	16	15
Total	2,605	5,994	5,609
Borrowings attributable to with-profits funds
Non-recourse borrowings of venture fund investment subsidiaries	1,063	1,183	926
Non-recourse borrowings of consolidated investment vehicles	854	690	681
Subordinated debt of the Scottish Amicable Insurance Fund	100	100	100
Other borrowings (predominantly obligations under finance leases)	105	69	69
Total	2,122	2,042	1,776