Notes to the financial statements | Note 23

At 31 March £’000 2009 2008 23. Securitised assets           Securitised assets are made up of the following categories of assets:     Loans and advances to banks 48 354 477 785 Cash and cash equivalents 567 449 - Loans and advances to customers 4 892 437 5 488 217 Other financial instruments at fair value 189 447 150 785   5 697 687 6 116 787 Total impairment of securitised assets (69 340) (33 812) Total securitised assets 5 628 347 6 082 975       The associated liabilities are recorded on balance sheet in "liabilities arising on securitisation".     Carrying value at 31 March 5 203 473 5 760 208       Analysis of securitised assets by risk exposure     Own originated securitised assets forming part of gross core loans and advances to customers 1 128 333 913 814 Securitisation exposures arising from securitisation/principal finance activities 293 634 250 801 Total credit and counterparty exposure 1 421 967 1 164 615       Securitised assets with no legal credit exposure 4 206 380 4 918 360 Gross securitised assets deemed to have no legal credit exposure 4 275 720 4 952 172 Impairment of securitised assets deemed to have no legal credit exposure (69 340) (33 812) Total securitised assets 5 628 347 6 082 975       Specific and portfolio impairments     Reconciliation of movements in specific and portfolio impairments of loans and advances that have been securitised:           Specific impairment     Balance at beginning of year 33 812 65 Charge to the income statement 26 152 33 660 Utilised (18 673) (36) Exchange adjustment 106 123 Balance at end of year 41 397 33 812       Portfolio impairment     Balance at beginning of year - 133 Charge to the income statement 27 923 - Utilised - (117) Exchange adjustment 20 (16) Balance at end of year 27 943 -       Total impairments 69 340 33 812