Document and Entity Information
Document and Entity Information Document | 12 Months Ended |
Dec. 31, 2019shares | |
Document And Entity Information [Abstract] | |
Entity Registrant Name | HSBC HOLDINGS PLC |
Entity Central Index Key | 0001089113 |
Document Period End Date | Dec. 31, 2019 |
Document Type | 20-F |
Entity Filer Category | Large Accelerated Filer |
Current Fiscal Year End Date | --12-31 |
Document Fiscal Year Focus | 2019 |
Document Fiscal Period Focus | FY |
Entity Current Reporting Status | Yes |
Entity Well Known Seasoned Filer | Yes |
Entity Shell Company | false |
Entity Emerging Growth Company | false |
Entity Voluntary Filers | No |
Amendment Flag | false |
Shares outstanding (in shares) | 20,638,524,545 |
Consolidated income statement
Consolidated income statement - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Disclosure Of Face Statements [Line Items] | ||||
Net interest income/(expense) | $ 30,462 | $ 30,489 | $ 28,176 | |
– interest income | [1],[2] | 54,695 | 49,609 | 40,995 |
– interest expense | [3] | (24,233) | (19,120) | (12,819) |
Net fee income | 12,023 | 12,620 | 12,811 | |
– fee income | 15,439 | 16,044 | 15,853 | |
– fee expense | (3,416) | (3,424) | (3,042) | |
Net income from financial instruments held for trading or managed on a fair value basis | 10,231 | 9,531 | 8,426 | |
Net income/(expense) from assets and liabilities of insurance businesses, including related derivatives, measured at fair value through profit or loss | 3,478 | (1,488) | 2,836 | |
Changes in fair value of designated debt and related derivatives | [4] | 90 | (97) | 155 |
Changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss | 812 | 695 | ||
Gains less losses from financial investments | 335 | 218 | 1,150 | |
Net insurance premium income | 10,636 | 10,659 | 9,779 | |
Other operating income | 2,957 | 960 | 443 | |
Total operating income | 71,024 | 63,587 | 63,776 | |
Net insurance claims and benefits paid and movement in liabilities to policyholders | (14,926) | (9,807) | (12,331) | |
Net operating income before change in expected credit losses and other credit impairment charges/Loan impairment charges and other credit risk provisions | 56,098 | 53,780 | 51,445 | |
Change in expected credit losses and other credit impairment charges | (2,756) | (1,767) | (1,769) | |
Net operating income | 53,342 | 52,013 | 49,676 | |
Employee compensation and benefits | (18,002) | (17,373) | (17,315) | |
General and administrative expenses | (13,828) | (15,353) | (15,707) | |
Depreciation and impairment of property, plant and equipment and right-of-use assets | [5] | (2,100) | (1,119) | (1,166) |
Amortisation and impairment of intangible assets | (1,070) | (814) | (696) | |
Goodwill impairment | (7,349) | 0 | 0 | |
Total operating expenses | (42,349) | (34,659) | (34,884) | |
Operating profit | 10,993 | 17,354 | 14,792 | |
Share of profit in associates and joint ventures | 2,354 | 2,536 | 2,375 | |
Profit before tax | 13,347 | 19,890 | 17,167 | |
Tax (expense) credit | (4,639) | (4,865) | (5,288) | |
Profit for the year | 8,708 | 15,025 | 11,879 | |
Attributable to: | ||||
– ordinary shareholders of the parent company | 5,969 | 12,608 | 9,683 | |
– preference shareholders of the parent company | 90 | 90 | 90 | |
– other equity holders | 1,324 | 1,029 | 1,025 | |
– non-controlling interests | 1,325 | 1,298 | 1,081 | |
Profit for the year | $ 8,708 | $ 15,025 | $ 11,879 | |
Basic earnings per ordinary share (in dollars per share) | $ 0.30 | $ 0.63 | $ 0.48 | |
Diluted earnings per ordinary share (in dollars per share) | $ 0.30 | $ 0.63 | $ 0.48 | |
HSBC Holdings | ||||
Disclosure Of Face Statements [Line Items] | ||||
Net interest income/(expense) | $ (2,554) | $ (1,112) | $ (383) | |
– interest income | 1,249 | 2,193 | 2,185 | |
– interest expense | (3,803) | (3,305) | (2,568) | |
Net fee income | (2) | 0 | 2 | |
Net income from financial instruments held for trading or managed on a fair value basis | 1,477 | 245 | (181) | |
Changes in fair value of designated debt and related derivatives | [6] | (360) | (77) | 103 |
Changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss | 1,659 | 43 | 0 | |
Gains less losses from financial investments | 0 | 4 | 154 | |
Dividend income from subsidiaries | [7] | 15,117 | 55,304 | 10,039 |
Other operating income | 1,293 | 960 | 769 | |
Net operating income before change in expected credit losses and other credit impairment charges/Loan impairment charges and other credit risk provisions | 16,630 | 55,367 | 10,503 | |
Employee compensation and benefits | (37) | (37) | (54) | |
General and administrative expenses | (4,772) | (4,507) | (4,911) | |
Reversal of impairment/(impairment) of subsidiaries | [8] | (2,562) | 2,064 | (63) |
Total operating expenses | (7,371) | (2,480) | (5,028) | |
Profit before tax | 9,259 | 52,887 | 5,475 | |
Tax (expense) credit | (218) | (62) | 64 | |
Profit for the year | 9,041 | 52,825 | 5,539 | |
Attributable to: | ||||
Profit for the year | $ 9,041 | $ 52,825 | $ 5,539 | |
[1] | Interest income includes $45,708m (2018: $42,130m) of interest recognised on financial assets measured at amortised cost and $8,259m (2018: $7,020m) of interest recognised on financial assets measured at fair value through other comprehensive income. | |||
[2] | Interest revenue calculated using the effective interest method comprises interest recognised on financial assets measured at either amortised cost or fair value through other comprehensive income. | |||
[3] | ) of interest on financial instruments, excluding interest on financial liabilities held for trading or designated or otherwise mandatorily measured at fair value. | |||
[4] | The debt instruments, issued for funding purposes, are designated under the fair value option to reduce an accounting mismatch. | |||
[5] | Includes depreciation of the right-of-use assets of $912m (2018: nil). Right-of-use assets have been recognised from 1 January 2019 following the adoption of IFRS 16. Comparatives have not been restated. | |||
[6] | The debt instruments, issued for funding purposes, are designated under the fair value option to reduce an accounting mismatch. | |||
[7] | The 2018 year included $44,893m (2019: nil) return on capital from HSBC Finance (Netherlands) resulting from restructuring the Group’s Asia operation to meet resolution and recovery requirements. | |||
[8] | The 2019 year includes $2,475m impairment of HSBC Overseas Holdings (UK) Limited (2018: reversal of $2,200m). |
Consolidated income statement (
Consolidated income statement (Parenthetical) - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | ||
Disclosure Of Face Statements [Line Items] | |||
Interest revenue for financial assets measured at amortised cost | $ 45,708,000,000 | $ 42,130,000,000 | |
Interest revenue for financial assets measured at fair value through other comprehensive income | 8,259,000,000 | 7,020,000,000 | |
Interest expense for financial liabilities not at fair value through profit or loss | 21,922,000,000 | 16,972,000,000 | |
Depreciation of right-of-use assets | 912,000,000 | 0 | |
HSBC Holdings | |||
Disclosure Of Face Statements [Line Items] | |||
Dividend income from subsidiaries | [1] | 15,117,000,000 | 55,304,000,000 |
Reversal of impairment/(impairment) of subsidiaries | [2] | (2,562,000,000) | 2,064,000,000 |
HSBC Finance (Netherlands) | HSBC Holdings | |||
Disclosure Of Face Statements [Line Items] | |||
Dividend income from subsidiaries | 0 | 44,893,000,000 | |
HSBC Overseas Holdings (UK) Limited | HSBC Holdings | |||
Disclosure Of Face Statements [Line Items] | |||
Reversal of impairment/(impairment) of subsidiaries | $ (2,475,000,000) | $ 2,200,000,000 | |
[1] | The 2018 year included $44,893m (2019: nil) return on capital from HSBC Finance (Netherlands) resulting from restructuring the Group’s Asia operation to meet resolution and recovery requirements. | ||
[2] | The 2019 year includes $2,475m impairment of HSBC Overseas Holdings (UK) Limited (2018: reversal of $2,200m). |
Consolidated statement of compr
Consolidated statement of comprehensive income - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Face Statements [Line Items] | |||
Profit for the year | $ 8,708 | $ 15,025 | $ 11,879 |
Items that will be reclassified subsequently to profit or loss when specific conditions are met: | |||
Available-for-sale investments | 146 | ||
– fair value gains/(losses) | 1,227 | ||
– fair value gains reclassified to the income statement | (1,033) | ||
– amounts reclassified to the income statement in respect of impairment losses | 93 | ||
– income taxes | (141) | ||
Debt instruments at fair value through other comprehensive income | 1,152 | (243) | |
– fair value gains/(losses) | 1,793 | (168) | |
– fair value gains transferred to the income statement on disposal | (365) | (95) | |
– expected credit recoveries/(losses) recognised in the income statement | 109 | (94) | |
– income taxes | (385) | 114 | |
Cash flow hedges | 206 | 19 | (192) |
– fair value gains/(losses) | 551 | (267) | (1,046) |
– fair value (gains)/losses reclassified to the income statement | (286) | 317 | 833 |
– income taxes | (59) | (31) | 21 |
Share of other comprehensive income/(expense) of associates and joint ventures | 21 | (64) | (43) |
– share for the year | 21 | (64) | (43) |
Exchange differences | 1,044 | (7,156) | 9,077 |
– other exchange differences | 1,044 | (7,156) | 8,939 |
– income tax attributable to exchange differences | 0 | 0 | 138 |
Items that will not be reclassified subsequently to profit or loss: | |||
Remeasurement of defined benefit asset/liability | 13 | (329) | 2,419 |
– before income taxes | (17) | (388) | 3,440 |
– income taxes | 30 | 59 | (1,021) |
Changes in fair value of financial liabilities designated at fair value upon initial recognition arising from changes in own credit risk | (2,002) | 2,847 | (2,024) |
– before income taxes | (2,639) | 3,606 | (2,409) |
– income taxes | 637 | (759) | 385 |
Equity instruments designated at fair value through other comprehensive income | 366 | (27) | |
– fair value gains/(losses) | 364 | (71) | |
– income taxes | 2 | 44 | |
Effects of hyperinflation | 217 | 283 | |
Other comprehensive (expense)/income for the year, net of tax | 1,017 | (4,670) | 9,383 |
Total comprehensive income for the year | 9,725 | 10,355 | 21,262 |
Attributable to: | |||
– ordinary shareholders of the parent company | 6,838 | 8,083 | 18,914 |
– preference shareholders of the parent company | 90 | 90 | 90 |
– other equity holders | 1,324 | 1,029 | 1,025 |
– non-controlling interests | 1,473 | 1,153 | 1,233 |
Total comprehensive income for the year | 9,725 | 10,355 | 21,262 |
HSBC Holdings | |||
Disclosure Of Face Statements [Line Items] | |||
Profit for the year | 9,041 | 52,825 | 5,539 |
Items that will be reclassified subsequently to profit or loss when specific conditions are met: | |||
Available-for-sale investments | 0 | 0 | (53) |
– fair value gains/(losses) | 0 | 0 | (70) |
– income taxes | 0 | 0 | 17 |
Items that will not be reclassified subsequently to profit or loss: | |||
Changes in fair value of financial liabilities designated at fair value upon initial recognition arising from changes in own credit risk | (396) | 865 | (828) |
– before income taxes | (573) | 1,090 | (1,007) |
– income taxes | 177 | (225) | 179 |
Other comprehensive (expense)/income for the year, net of tax | (396) | 865 | (881) |
Total comprehensive income for the year | 8,645 | 53,690 | 4,658 |
Attributable to: | |||
Total comprehensive income for the year | $ 8,645 | $ 53,690 | $ 4,658 |
Consolidated balance sheet
Consolidated balance sheet - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | |
Assets | |||
Cash and balances at central banks | $ 154,099 | $ 162,843 | |
Items in the course of collection from other banks | 4,956 | 5,787 | |
Hong Kong Government certificates of indebtedness | 38,380 | 35,859 | |
Trading assets | 254,271 | 238,130 | |
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | 43,627 | 41,111 | |
Derivatives | 242,995 | 207,825 | |
Loans and advances to banks | 69,203 | 72,167 | |
Loans and advances to customers | 1,036,743 | 981,696 | |
Reverse repurchase agreements – non-trading | 240,862 | 242,804 | |
Financial investments | 443,312 | 407,433 | |
Prepayments, accrued income and other assets | 136,680 | 110,571 | |
Current tax assets | 755 | 684 | |
Interests in associates and joint ventures | 24,474 | 22,407 | |
Goodwill and intangible assets | 20,163 | 24,357 | |
Deferred tax assets | 4,632 | 4,450 | |
Total assets | 2,715,152 | 2,558,124 | |
Liabilities | |||
Hong Kong currency notes in circulation | 38,380 | 35,859 | |
Deposits by banks | 59,022 | 56,331 | |
Customer accounts | 1,439,115 | 1,362,643 | |
Repurchase agreements – non-trading | 140,344 | 165,884 | |
Items in the course of transmission to other banks | 4,817 | 5,641 | |
Trading liabilities | 83,170 | 84,431 | |
Financial liabilities designated at fair value | 164,466 | 148,505 | |
Derivatives | 239,497 | 205,835 | |
Debt securities in issue | 104,555 | 85,342 | |
Accruals, deferred income and other liabilities | 118,156 | 97,380 | |
Current tax liabilities | 2,150 | 718 | |
Liabilities under insurance contracts | 97,439 | 87,330 | |
Provisions | 3,398 | 2,920 | |
Deferred tax liabilities | 3,375 | 2,619 | |
Subordinated liabilities | 24,600 | 22,437 | |
Total liabilities | 2,522,484 | 2,363,875 | |
Equity | |||
Called up share capital | 10,319 | 10,180 | |
Share premium account | 13,959 | 13,609 | |
Other equity instruments | 20,871 | 22,367 | |
Other reserves | 2,127 | 1,906 | |
Retained earnings | 136,679 | 138,191 | |
Total shareholders’ equity | 183,955 | 186,253 | |
Non-controlling interests | 8,713 | 7,996 | |
Total equity | 192,668 | 194,249 | |
Total liabilities and equity | 2,715,152 | 2,558,124 | |
HSBC Holdings | |||
Assets | |||
Cash and balances with HSBC undertakings | 2,382 | 3,509 | |
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | 61,964 | 23,513 | |
Derivatives | 2,002 | 707 | |
Loans and advances to banks | 10,218 | 56,144 | |
Financial investments | 16,106 | 0 | |
Prepayments, accrued income and other assets | 559 | 126 | |
Current tax assets | 203 | 594 | |
Investments in subsidiaries | [1] | 161,473 | 160,231 |
Intangible assets | 333 | 357 | |
Deferred tax assets | 0 | 0 | |
Total assets | 255,240 | 245,181 | |
Liabilities | |||
Amounts owed to HSBC undertakings | 464 | 949 | |
Financial liabilities designated at fair value | 30,303 | 25,049 | |
Derivatives | 2,021 | 2,159 | |
Debt securities in issue | 56,844 | 50,800 | |
Accruals, deferred income and other liabilities | 1,915 | 994 | |
Deferred tax liabilities | 288 | 162 | |
Subordinated liabilities | 18,361 | 17,715 | |
Total liabilities | 110,196 | 97,828 | |
Equity | |||
Called up share capital | 10,319 | 10,180 | |
Share premium account | 13,959 | 13,609 | |
Other equity instruments | 20,743 | 22,231 | |
Other reserves | 37,539 | 39,899 | |
Retained earnings | 62,484 | 61,434 | |
Total equity | 145,044 | 147,353 | |
Total liabilities and equity | $ 255,240 | $ 245,181 | |
[1] | The 2018 year included $56,587m (2019: nil) capital injection to HSBC Asia Holdings Limited. |
Consolidated balance sheet (Par
Consolidated balance sheet (Parenthetical) - HSBC Holdings - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Face Statements [Line Items] | |||
Investments in subsidiaries | [1] | $ 161,473,000,000 | $ 160,231,000,000 |
HSBC Asia Holdings Limited | |||
Disclosure Of Face Statements [Line Items] | |||
Investments in subsidiaries | $ 0 | $ 56,587,000,000 | |
[1] | The 2018 year included $56,587m (2019: nil) capital injection to HSBC Asia Holdings Limited. |
Consolidated statement of cash
Consolidated statement of cash flows - USD ($) $ in Millions | 12 Months Ended | |||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||||
Cash flows from (used in) operating activities [abstract] | ||||||
Profit before tax | $ 13,347 | $ 19,890 | $ 17,167 | |||
Adjustments for non-cash items: | ||||||
Depreciation, amortisation and impairment | [1] | 10,519 | 1,933 | 1,862 | ||
Net gain from investing activities | (399) | (126) | (1,152) | |||
Share of profits in associates and joint ventures | (2,354) | (2,536) | (2,375) | |||
Gain on disposal of subsidiaries, businesses, associates and joint ventures | (929) | 0 | (79) | |||
Loan impairment losses gross of recoveries and other credit risk provisions | 3,012 | 2,280 | 2,603 | |||
Provisions including pensions | 2,423 | 1,944 | 917 | |||
Share-based payment expense | 478 | 450 | 500 | |||
Other non-cash items included in profit before tax | (2,297) | (1,303) | (381) | |||
Elimination of exchange differences | [2] | (3,742) | 4,930 | (20,757) | ||
Change in net trading securities and derivatives | (18,910) | 20,855 | (13,615) | |||
Change in loans and advances to banks and customers | (53,760) | (44,071) | (108,984) | |||
Change in reverse repurchase agreements – non-trading | (7,390) | (25,399) | (37,281) | |||
Change in financial assets designated and otherwise mandatorily measured at fair value | (2,308) | (1,515) | (5,303) | |||
Change in other assets | (21,863) | 6,766 | (6,570) | |||
Change in deposits by banks and customer accounts | 79,163 | (5,745) | 102,457 | |||
Change in repurchase agreements – non-trading | (25,540) | 35,882 | 41,044 | |||
Change in debt securities in issue | 19,268 | 18,806 | (1,369) | |||
Change in financial liabilities designated at fair value | 20,068 | 4,500 | 8,508 | |||
Change in other liabilities | 23,124 | (2,187) | 13,514 | |||
Dividends received from associates | 633 | 910 | 740 | |||
Contributions paid to defined benefit plans | (533) | (332) | (685) | |||
Tax paid (received) | (2,267) | (3,417) | (3,175) | |||
Net cash from operating activities | 29,743 | 32,515 | (12,414) | |||
Cash flows from (used in) investing activities [abstract] | ||||||
Purchase of financial investments | (445,907) | (399,458) | (357,264) | |||
Proceeds from the sale and maturity of financial investments | 413,186 | 386,056 | 418,352 | |||
Net cash flows from the purchase and sale of property, plant and equipment | (1,343) | (1,196) | (1,167) | |||
Net cash flows from purchase/(disposal) of customer and loan portfolios | 1,118 | (204) | 6,756 | |||
Net investment in intangible assets | (2,289) | (1,848) | (1,285) | |||
Net cash flow on disposal of subsidiaries, businesses, associates and joint ventures | (83) | 4 | 165 | |||
Net cash from investing activities | (35,318) | (16,646) | 65,557 | |||
Cash flows from (used in) financing activities [abstract] | ||||||
Issue of ordinary share capital and other equity instruments | 0 | 6,001 | 5,196 | |||
Cancellation of shares | (1,000) | (1,998) | (3,000) | |||
Net sales/(purchases) of own shares for market-making and investment purposes | 141 | 133 | (67) | |||
Redemption of preference shares and other equity instruments | 0 | (6,078) | 0 | |||
Subordinated loan capital repaid | [3] | (4,210) | (4,077) | (3,574) | ||
Dividends paid to shareholders of the parent company and non-controlling interests | (9,773) | (10,762) | (9,005) | |||
Net cash from financing activities | (14,842) | (16,781) | (10,450) | |||
Net increase/(decrease) in cash and cash equivalents | (20,417) | (912) | 42,693 | |||
Cash and cash equivalents at 1 Jan | [4] | 312,911 | [5] | 323,718 | [5] | 263,324 |
Exchange differences in respect of cash and cash equivalents | 1,248 | (9,895) | 17,701 | |||
Cash and cash equivalents at 31 Dec | [4],[5] | 293,742 | 312,911 | 323,718 | ||
Cash and cash equivalents comprise: | ||||||
Cash and cash equivalents at 31 Dec | [4],[5] | 293,742 | 312,911 | 323,718 | ||
HSBC Holdings | ||||||
Cash flows from (used in) operating activities [abstract] | ||||||
Profit before tax | 9,259 | 52,887 | 5,475 | |||
Adjustments for non-cash items: | ||||||
Adjustments for non-cash items | 2,657 | (46,878) | (17) | |||
Depreciation, amortisation and impairment | 72 | 70 | 33 | |||
Share-based payment expense | 1 | 0 | (2) | |||
Other non-cash items included in profit before tax | [6] | 2,584 | (46,948) | (48) | ||
Change in loans to HSBC undertakings | 41,471 | 7,293 | (1,122) | |||
Change in financial assets with HSBC undertakings designated and otherwise mandatorily measured at fair value | (38,451) | (7,305) | (11,944) | |||
Change in financial investments in HSBC undertakings | 0 | 0 | (1,775) | |||
Change in net trading securities and derivatives | (1,433) | 758 | (2,183) | |||
Change in other assets | (437) | 231 | 134 | |||
Change in financial investments | (70) | 0 | 0 | |||
Change in debt securities in issue | 1,899 | (1,094) | 1,020 | |||
Change in financial liabilities designated at fair value | 1,227 | (740) | 954 | |||
Change in other liabilities | 437 | (1,883) | 721 | |||
Tax paid (received) | 459 | 301 | 443 | |||
Net cash from operating activities | 17,018 | 3,570 | (8,294) | |||
Cash flows from (used in) investing activities [abstract] | ||||||
Purchase of financial investments | (19,293) | 0 | 0 | |||
Proceeds from the sale and maturity of financial investments | 6,755 | 0 | 1,165 | |||
Net cash outflow from acquisition of or increase in stake of subsidiaries | (3,721) | (8,992) | (89) | |||
Repayment of capital from subsidiaries | 0 | 3,627 | 4,070 | |||
Net investment in intangible assets | (44) | (121) | (150) | |||
Net cash from investing activities | (16,303) | (5,486) | 4,996 | |||
Cash flows from (used in) financing activities [abstract] | ||||||
Issue of ordinary share capital and other equity instruments | 500 | 6,652 | 5,647 | |||
Cancellation of shares | (1,006) | (1,998) | (3,000) | |||
Purchase of treasury shares | 0 | 0 | 0 | |||
Redemption of preference shares and other equity instruments | 0 | (6,093) | 0 | |||
Subordinated loan capital issued | 0 | 0 | 0 | |||
Subordinated loan capital repaid | (4,107) | (1,972) | (1,184) | |||
Debt securities issued | 10,817 | 19,513 | 11,433 | |||
Debt securities repaid | 0 | (1,025) | 0 | |||
Dividends paid on ordinary shares | (7,582) | (8,693) | (6,987) | |||
Dividends paid to holders of other equity instruments | (1,414) | (1,360) | (1,359) | |||
Net cash from financing activities | (2,792) | 5,024 | 4,550 | |||
Net increase/(decrease) in cash and cash equivalents | (2,077) | 3,108 | 1,252 | |||
Cash and cash equivalents at 1 Jan | 8,057 | [7] | 4,949 | [7] | 3,697 | |
Cash and cash equivalents at 31 Dec | [7] | 5,980 | 8,057 | 4,949 | ||
Cash and cash equivalents comprise: | ||||||
Cash and cash equivalents at 31 Dec | [7] | $ 5,980 | $ 8,057 | $ 4,949 | ||
[1] | 1The impact of the right-of-use assets recognised under IFRS 16 at the beginning of 2019 is not recognised in 2018 and 2017. This also includes the impact of a $7.3bn goodwill impairment in 2019. | |||||
[2] | Adjustment to bring changes between opening and closing balance sheet amounts to average rates. This is not done on a line-by-line basis, as details cannot be determined without unreasonable expense. | |||||
[3] | Subordinated liabilities changes during the year are attributable to repayments of $(4.2)bn (2018: $(4.1)bn; 2017: $(3.6)bn) of securities. Non-cash changes during the year included foreign exchange gains/(losses) of $0.6bn (2018: $(0.6)bn; 2017: $(0.6)bn) and fair value gains/(losses) of $1.4bn (2018: $(1.4)bn; 2017: $(1.2)bn). | |||||
[4] | 4In 2019, HSBC included settlement accounts with bank counterparties of one month or less on a net basis. Comparatives have been re-presented and also include the net impact of other cash equivalents not previously included in cash and cash equivalents. The net effect of these changes increased cash and cash equivalents by $11.8bn in 2018 and decreased cash and cash equivalents by $(13.7)bn in 2017. | |||||
[5] | At 31 December 2019, $35,735m (2018: $26,282m; 2017: $39,830m) was not available for use by HSBC, of which $19,353m (2018: $19,755m; 2017: $21,424m) related to mandatory deposits at central banks. | |||||
[6] | The 2018 year included $44,893m (2019: nil) return on capital from HSBC Finance (Netherlands) resulting from restructuring the Group’s Asia operation to meet resolution and recovery requirements. | |||||
[7] | In 2019, HSBC included settlement accounts with bank counterparties of one month or less on a net basis. Comparatives have been re-presented and also include other cash equivalents not included in 2018 cash and cash equivalents. The net effect of these changes increased cash and cash equivalents by $1,548m in 2018 and had no impact in 2017. |
Consolidated statement of cas_2
Consolidated statement of cash flows (Parenthetical) - USD ($) | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Disclosure Of Face Statements [Line Items] | ||||
Interest received | $ 58,627,000,000 | $ 45,291,000,000 | $ 41,676,000,000 | |
Interest paid | 27,384,000,000 | 14,172,000,000 | 10,962,000,000 | |
Dividends received | 2,369,000,000 | 1,702,000,000 | 2,225,000,000 | |
Goodwill impairment | 7,300,000,000 | |||
Other non-cash items included in profit before tax | (2,297,000,000) | (1,303,000,000) | (381,000,000) | |
Repayment of securities | (4,200,000,000) | (4,100,000,000) | (3,600,000,000) | |
Foreign exchange gain (loss) | 600,000,000 | (600,000,000) | (600,000,000) | |
Fair value gain (loss) | 1,400,000,000 | (1,400,000,000) | (1,200,000,000) | |
Increase (decrease) in cash and cash equivalents | [1],[2] | 293,742,000,000 | 312,911,000,000 | 323,718,000,000 |
Restricted cash and cash equivalents | 35,735,000,000 | 26,282,000,000 | 39,830,000,000 | |
Mandatory reserve deposits at central banks | 19,353,000,000 | 19,755,000,000 | 21,424,000,000 | |
HSBC Holdings | ||||
Disclosure Of Face Statements [Line Items] | ||||
Interest received | 2,216,000,000 | 2,116,000,000 | 2,103,000,000 | |
Interest paid | 3,819,000,000 | 3,379,000,000 | 2,443,000,000 | |
Dividends received | 15,117,000,000 | 10,411,000,000 | 10,039,000,000 | |
Other non-cash items included in profit before tax | [3] | 2,584,000,000 | (46,948,000,000) | (48,000,000) |
Increase (decrease) in cash and cash equivalents | [4] | 5,980,000,000 | 8,057,000,000 | 4,949,000,000 |
HSBC Holdings | HSBC Finance (Netherlands) | ||||
Disclosure Of Face Statements [Line Items] | ||||
Other non-cash items included in profit before tax | $ 0 | 44,893,000,000 | ||
Change in accounting practice to include settlement accounts with Bank counterparties of one month or less | Increase (decrease) due to voluntary changes in accounting policy | ||||
Disclosure Of Face Statements [Line Items] | ||||
Increase (decrease) in cash and cash equivalents | 11,800,000,000 | (13,700,000,000) | ||
Change in accounting practice to include settlement accounts with Bank counterparties of one month or less | Increase (decrease) due to voluntary changes in accounting policy | HSBC Holdings | ||||
Disclosure Of Face Statements [Line Items] | ||||
Increase (decrease) in cash and cash equivalents | $ 1,548,000,000 | $ 0 | ||
[1] | 4In 2019, HSBC included settlement accounts with bank counterparties of one month or less on a net basis. Comparatives have been re-presented and also include the net impact of other cash equivalents not previously included in cash and cash equivalents. The net effect of these changes increased cash and cash equivalents by $11.8bn in 2018 and decreased cash and cash equivalents by $(13.7)bn in 2017. | |||
[2] | At 31 December 2019, $35,735m (2018: $26,282m; 2017: $39,830m) was not available for use by HSBC, of which $19,353m (2018: $19,755m; 2017: $21,424m) related to mandatory deposits at central banks. | |||
[3] | The 2018 year included $44,893m (2019: nil) return on capital from HSBC Finance (Netherlands) resulting from restructuring the Group’s Asia operation to meet resolution and recovery requirements. | |||
[4] | In 2019, HSBC included settlement accounts with bank counterparties of one month or less on a net basis. Comparatives have been re-presented and also include other cash equivalents not included in 2018 cash and cash equivalents. The net effect of these changes increased cash and cash equivalents by $1,548m in 2018 and had no impact in 2017. |
Consolidated statement of chang
Consolidated statement of changes in equity - USD ($) $ in Millions | Total | Called up share capital and share premium | Other equity instruments | Retained earnings | [1],[2] | Financial assets at FVOCI reserve | Available-for-sale fair value reserve | [3] | Cash flow hedging reserve | Foreign exchange reserve | Merger and other reserves | [2],[4] | Total shareholders’ equity | Non-controlling interests | HSBC Holdings | HSBC HoldingsCalled up share capital | HSBC HoldingsShare premium | HSBC HoldingsOther equity instruments | HSBC HoldingsRetained earnings | [5],[6] | HSBC HoldingsFinancial assets at FVOCI reserve | HSBC HoldingsAvailable-for-sale fair value reserve | HSBC HoldingsMerger and other reserves | [6] | ||||||||
Equity beginning of period at Dec. 31, 2016 | $ 182,578 | $ 22,715 | $ 17,110 | $ 136,795 | $ (477) | $ (27) | $ (28,038) | $ 27,308 | $ 175,386 | $ 7,192 | $ 104,858 | $ 10,096 | $ 12,619 | $ 17,004 | $ 27,656 | $ 112 | $ 37,371 | |||||||||||||||
Profit for the year | 11,879 | 10,798 | 10,798 | 1,081 | 5,539 | 5,539 | ||||||||||||||||||||||||||
Other comprehensive (expense)/income for the year, net of tax | 9,383 | 328 | 131 | (194) | 8,966 | 9,231 | 152 | (881) | (828) | (53) | ||||||||||||||||||||||
– available-for-sale investments | 146 | 131 | 131 | 15 | (53) | (53) | ||||||||||||||||||||||||||
– cash flow hedges | (192) | (194) | (194) | 2 | ||||||||||||||||||||||||||||
– changes in fair value of financial liabilities designated at fair value upon initial recognition arising from changes in own credit risk | (2,024) | (2,024) | (2,024) | (828) | (828) | |||||||||||||||||||||||||||
– remeasurement of defined benefit asset/liability | 2,419 | 2,395 | 2,395 | 24 | ||||||||||||||||||||||||||||
– share of other comprehensive income of associates and joint ventures | (43) | (43) | (43) | |||||||||||||||||||||||||||||
– exchange differences | 9,077 | 8,966 | 8,966 | 111 | ||||||||||||||||||||||||||||
Total comprehensive income for the year | 21,262 | 11,126 | 131 | (194) | 8,966 | 20,029 | 1,233 | 4,658 | 4,711 | (53) | ||||||||||||||||||||||
Shares issued under employee remuneration and share plans | 56 | 622 | (566) | 56 | 570 | 38 | 584 | (52) | ||||||||||||||||||||||||
Shares issued in lieu of dividends and amounts arising thereon | 3,206 | 3,206 | 3,206 | 3,205 | 190 | (190) | 3,205 | |||||||||||||||||||||||||
Capital securities issued | 5,140 | [7] | 5,140 | [7] | 5,140 | [7] | 5,103 | 5,103 | ||||||||||||||||||||||||
Dividends to shareholders | (12,211) | (11,551) | (11,551) | (660) | (11,551) | (11,551) | ||||||||||||||||||||||||||
Cost of share-based payment arrangements | 500 | 500 | 500 | (2) | (2) | |||||||||||||||||||||||||||
Cancellation of shares | (3,000) | [8] | (3,000) | [8] | (3,000) | [8] | (3,000) | (164) | (2,836) | |||||||||||||||||||||||
Other movements | 340 | 489 | (4) | (1) | 484 | (144) | (54) | (64) | 10 | |||||||||||||||||||||||
Equity end of period at Dec. 31, 2017 | 197,871 | 20,337 | 22,250 | 139,999 | $ (350) | [3] | $ (350) | (222) | (19,072) | 27,308 | 190,250 | 7,621 | 103,787 | 10,160 | 10,177 | 22,107 | 23,903 | $ 59 | $ 59 | 37,381 | ||||||||||||
Profit for the year | 15,025 | 13,727 | 13,727 | 1,298 | 52,825 | 52,825 | ||||||||||||||||||||||||||
Other comprehensive (expense)/income for the year, net of tax | (4,670) | 2,765 | (245) | [3] | 16 | (7,061) | (4,525) | (145) | 865 | 865 | ||||||||||||||||||||||
– debt instruments at fair value through other comprehensive income | (243) | (245) | [3] | (245) | 2 | |||||||||||||||||||||||||||
– equity instruments designated at fair value through other comprehensive income | (27) | (27) | ||||||||||||||||||||||||||||||
– available-for-sale investments | 0 | |||||||||||||||||||||||||||||||
– cash flow hedges | 19 | 16 | 16 | 3 | ||||||||||||||||||||||||||||
– changes in fair value of financial liabilities designated at fair value upon initial recognition arising from changes in own credit risk | 2,847 | 2,847 | 2,847 | 865 | 865 | |||||||||||||||||||||||||||
– remeasurement of defined benefit asset/liability | (329) | (301) | (301) | (28) | ||||||||||||||||||||||||||||
– share of other comprehensive income of associates and joint ventures | (64) | (64) | (64) | |||||||||||||||||||||||||||||
– effects of hyperinflation | 283 | 283 | 283 | |||||||||||||||||||||||||||||
– exchange differences | (7,156) | (7,061) | (7,061) | (95) | ||||||||||||||||||||||||||||
Total comprehensive income for the year | 10,355 | 16,492 | (245) | [3] | 16 | (7,061) | 9,202 | 1,153 | 53,690 | 53,690 | ||||||||||||||||||||||
Shares issued under employee remuneration and share plans | 111 | 721 | (610) | 111 | 721 | 42 | 679 | 0 | ||||||||||||||||||||||||
Shares issued in lieu of dividends and amounts arising thereon | 1,494 | 1,494 | 1,494 | 1,494 | 83 | (83) | 1,494 | |||||||||||||||||||||||||
Capital securities issued | 5,968 | [7] | 5,968 | [7] | 5,968 | [7] | 5,967 | 5,967 | ||||||||||||||||||||||||
Dividends to shareholders | (12,257) | (11,547) | (11,547) | (710) | (11,547) | (11,547) | ||||||||||||||||||||||||||
Redemption of securities | (6,088) | [9] | (5,851) | [9] | (237) | [9] | (6,088) | [9] | (6,079) | (5,843) | (236) | |||||||||||||||||||||
Transfers | (2,200) | [10] | 2,200 | [10] | (2,200) | [11] | 2,200 | [11] | ||||||||||||||||||||||||
Cost of share-based payment arrangements | 450 | 450 | 450 | |||||||||||||||||||||||||||||
Cancellation of shares | (1,998) | [8],[12] | 2,731 | [8],[12] | (4,998) | [8],[12] | 269 | [8],[12] | (1,998) | [8],[12] | (1,998) | [13] | (105) | [13] | 2,836 | [13] | (4,998) | [13] | 269 | [13] | ||||||||||||
Other movements | (10) | (67) | 84 | [3] | 17 | (27) | 428 | 379 | 49 | |||||||||||||||||||||||
Equity end of period at Dec. 31, 2018 | 194,249 | 23,789 | 22,367 | 138,191 | (1,532) | [3] | (206) | (26,133) | 29,777 | 186,253 | 7,996 | 147,353 | 10,180 | 13,609 | 22,231 | 61,434 | $ 0 | 39,899 | ||||||||||||||
Profit for the year | 8,708 | 7,383 | 7,383 | 1,325 | 9,041 | 9,041 | ||||||||||||||||||||||||||
Other comprehensive (expense)/income for the year, net of tax | 1,017 | (1,759) | 1,424 | 204 | 1,000 | 869 | 148 | (396) | (396) | |||||||||||||||||||||||
– debt instruments at fair value through other comprehensive income | 1,152 | 1,146 | 1,146 | 6 | ||||||||||||||||||||||||||||
– equity instruments designated at fair value through other comprehensive income | 366 | 278 | 278 | 88 | ||||||||||||||||||||||||||||
– available-for-sale investments | 0 | |||||||||||||||||||||||||||||||
– cash flow hedges | 206 | 204 | 204 | 2 | ||||||||||||||||||||||||||||
– changes in fair value of financial liabilities designated at fair value upon initial recognition arising from changes in own credit risk | (2,002) | (2,002) | (2,002) | (396) | (396) | |||||||||||||||||||||||||||
– remeasurement of defined benefit asset/liability | 13 | 5 | 5 | 8 | ||||||||||||||||||||||||||||
– share of other comprehensive income of associates and joint ventures | 21 | 21 | 21 | |||||||||||||||||||||||||||||
– effects of hyperinflation | 217 | 217 | 217 | |||||||||||||||||||||||||||||
– exchange differences | 1,044 | 0 | 1,000 | 1,000 | 44 | |||||||||||||||||||||||||||
Total comprehensive income for the year | 9,725 | 5,624 | 1,424 | 204 | 1,000 | 8,252 | 1,473 | 8,645 | 8,645 | |||||||||||||||||||||||
Shares issued under employee remuneration and share plans | 62 | 557 | (495) | 62 | 501 | 36 | 521 | (56) | ||||||||||||||||||||||||
Shares issued in lieu of dividends and amounts arising thereon | 2,687 | 2,687 | 2,687 | 2,687 | 171 | (171) | 2,687 | |||||||||||||||||||||||||
Capital securities issued | 0 | 0 | ||||||||||||||||||||||||||||||
Dividends to shareholders | (12,460) | (11,683) | (11,683) | (777) | (11,683) | (11,683) | ||||||||||||||||||||||||||
Redemption of securities | (1,508) | [9] | (1,496) | [9] | (12) | [9] | (1,508) | [9] | (1,508) | (1,488) | (20) | |||||||||||||||||||||
Transfers | 2,475 | [10] | (2,475) | [10] | 2,475 | [11] | (2,475) | [11] | ||||||||||||||||||||||||
Cost of share-based payment arrangements | 478 | 478 | 478 | |||||||||||||||||||||||||||||
Cancellation of shares | (1,000) | [8] | (68) | [8] | (1,000) | [8] | 68 | [8] | (1,000) | [8] | (1,000) | [14] | (68) | [14] | (1,000) | [14] | 68 | [14] | ||||||||||||||
Other movements | 435 | 414 | 414 | 21 | 49 | 0 | 2 | 47 | ||||||||||||||||||||||||
Equity end of period at Dec. 31, 2019 | $ 192,668 | $ 24,278 | $ 20,871 | $ 136,679 | $ (108) | $ (2) | $ (25,133) | $ 27,370 | $ 183,955 | $ 8,713 | $ 145,044 | $ 10,319 | $ 13,959 | $ 20,743 | $ 62,484 | $ 37,539 | ||||||||||||||||
[1] | At 31 December 2019, retained earnings included 432,108,782 treasury shares (2018: 379,926,645; 2017: 360,590,019). In addition, treasury shares are also held within HSBC’s Insurance business retirement funds for the benefit of policyholders or beneficiaries within employee trusts for the settlement of shares expected to be delivered under employee share schemes or bonus plans, and the market-making activities in Global Markets. | |||||||||||||||||||||||||||||||
[2] | Cumulative goodwill amounting to $5,138m has been charged against reserves in respect of acquisitions of subsidiaries prior to 1 January 1998, including $3,469m charged against the merger reserve arising on the acquisition of HSBC Bank plc. The balance of $1,669m has been charged against retained earnings. | |||||||||||||||||||||||||||||||
[3] | The $350m at 31 December 2017 represents the IAS 39 available-for-sale fair value reserve as at 31 December 2017. | |||||||||||||||||||||||||||||||
[4] | Statutory share premium relief under section 131 of the Companies Act 1985 (the ‘Act’) was taken in respect of the acquisition of HSBC Bank plc in 1992, HSBC France in 2000 and HSBC Finance Corporation in 2003, and the shares issued were recorded at their nominal value only. In HSBC’s consolidated financial statements, the fair value differences of $8,290m in respect of HSBC France and $12,768m in respect of HSBC Finance Corporation were recognised in the merger reserve. The merger reserve created on the acquisition of HSBC Finance Corporation subsequently became attached to HSBC Overseas Holdings (UK) Limited (‘HOHU’), following a number of intra-Group reorganisations. During 2009, pursuant to section 131 of the Companies Act 1985, statutory share premium relief was taken in respect of the rights issue and $15,796m was recognised in the merger reserve. | |||||||||||||||||||||||||||||||
[5] | At 31 December 2019, retained earnings included 326,191,804 ($2,543m) of treasury shares (2018: 326,503,319 ($2,546m); 2017: 326,843,840 ($2,542m)). | |||||||||||||||||||||||||||||||
[6] | HSBC Holdings distributable reserves at 31 December 2019 of $31,656m (2018: $30,705m) represents realised profits for the year included in retained earnings of $11,516m (2018: $14,974m) and in merger reserve of $15,731m (2018: $15,731m). The distributable reserves are lower than retained earnings of $62,484m (2018: $61,434m). In 2018, $44,893m (2019: nil) represented income generated from restructuring the Group’s Asia operation to meet resolution and recovery requirements, which does not form part of distributable reserves. | |||||||||||||||||||||||||||||||
[7] | In 2018, HSBC Holdings issued $4,150m, £1,000m and SGD750m of perpetual subordinated contingent convertible capital securities on which there were $60m of external issuance costs, $49m of intra-Group issuance costs and $11m of tax benefits. In 2017, HSBC Holdings issued $3,000m, SGD1,000m and €1,250m of perpetual subordinated contingent convertible capital securities, on which there were $14m of external issuance costs, $37m of intra-Group issuance costs and $10m of tax benefits. Under IFRSs these issuance costs and tax benefits are classified as equity. | |||||||||||||||||||||||||||||||
[8] | For further details, refer to Note 31 in the Annual Report and Accounts 2019. In August 2019, HSBC announced a share buy-back of up to $1.0bn, which was completed in September 2019. In May 2018, HSBC announced a share buy-back of up to $2.0bn, which was completed in August 2018. In February 2017, HSBC announced a share buy-back of up to $1.0bn, which was completed in April 2017. In July 2017, HSBC announced a share buy-back of up to $2.0bn, which was completed in November 2017. Shares bought back from these buy-back programmes have been cancelled. | |||||||||||||||||||||||||||||||
[9] | During 2019, HSBC Holdings redeemed $1,500m 5.625% perpetual subordinated capital securities on which there were $12m of external issuance costs. In 2018, HSBC Holdings redeemed $2,200m 8.125% perpetual subordinated capital securities and its $3,800m 8.000% perpetual subordinated capital securities, Series 2, on which there were $172m of external issuance costs and $23m of intra-Group issuance costs wound down. Under IFRSs external issuance costs are classified as equity. | |||||||||||||||||||||||||||||||
[10] | Permitted transfers from the merger reserve to retained earnings were made when the investment in HSBC Overseas Holdings (UK) Limited was previously impaired. In 2018, a part reversal of this impairment resulted in a transfer from retained earnings back to the merger reserve of $2,200m. At 31 December 2019, an additional impairment of $2,475m was recognised and a permitted transfer of this amount was made from the merger reserve to retained earnings. | |||||||||||||||||||||||||||||||
[11] | Permitted transfers from the merger reserve to retained earnings were made when the investment in HSBC Overseas Holdings (UK) Limited was previously impaired. In 2018, a part reversal of this impairment resulted in a transfer from retained earnings back to the merger reserve of $2,200m. At 31 December 2019, an additional impairment of $2,475m was recognised and a permitted transfer of this amount was made from the merger reserve to retained earnings. | |||||||||||||||||||||||||||||||
[12] | This includes a re-presentation of the cancellation of shares to retained earnings and capital redemption reserve in respect of the 2017 share buy-back, under which retained earnings have been reduced by $3,000m, called up capital and share premium increased by $2,836m and other reserves increased by $164m. | |||||||||||||||||||||||||||||||
[13] | The 2018 year included a re-presentation of the cancellation of shares to retained earnings and capital redemption reserve in respect of the 2017 share buy-back, under which retained earnings has been reduced by $3,000m, share premium increased by $2,836m and other reserves increased by $164m. | |||||||||||||||||||||||||||||||
[14] | In August 2019, HSBC announced a share buy-back of up to $1.0bn, which was completed in September 2019. |
Consolidated statement of cha_2
Consolidated statement of changes in equity (Parenthetical) | 12 Months Ended | |||||||||||||||||||||
Dec. 31, 2019USD ($)$ / sharesshares | Dec. 31, 2018USD ($)$ / sharesshares | Dec. 31, 2017USD ($)$ / sharesshares | Dec. 31, 2019GBP (£)shares | Dec. 31, 2019EUR (€)shares | Dec. 31, 2019SGD ($)shares | Aug. 31, 2019USD ($) | Dec. 31, 2018GBP (£)shares | Dec. 31, 2018SGD ($)shares | May 31, 2018USD ($) | Jan. 01, 2018USD ($) | Dec. 31, 2017EUR (€)shares | Dec. 31, 2017SGD ($)shares | Jul. 31, 2017USD ($) | Feb. 28, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2009USD ($) | Dec. 31, 2003USD ($) | Dec. 31, 2000USD ($) | ||||
Cumulative goodwill | $ 5,138,000,000 | |||||||||||||||||||||
Total equity | $ 192,668,000,000 | $ 194,249,000,000 | $ 197,871,000,000 | $ 196,224,000,000 | $ 182,578,000,000 | |||||||||||||||||
Dividends paid on ordinary shares per share (in dollars per share) | $ / shares | $ 0.51 | $ 0.51 | $ 0.51 | |||||||||||||||||||
Profit for the year | $ 8,708,000,000 | $ 15,025,000,000 | $ 11,879,000,000 | |||||||||||||||||||
Cancellation of shares | [1] | (1,000,000,000) | (1,998,000,000) | [2] | $ (3,000,000,000) | |||||||||||||||||
Increase in Deferred tax assets | $ 4,632,000,000 | $ 4,450,000,000 | ||||||||||||||||||||
GBP 1,000m 5.875% Perpetual Subordinated Contingent Convertible Securities | ||||||||||||||||||||||
Notional amount | £ | £ 1,000,000,000 | |||||||||||||||||||||
Other equity instruments interest rate | 5.875% | 5.875% | 5.875% | 5.875% | ||||||||||||||||||
SGD 750m 5.000% Perpetual Subordinated Contingent Convertible Securities | ||||||||||||||||||||||
Notional amount | $ 750,000,000 | |||||||||||||||||||||
Other equity instruments interest rate | 5.00% | 5.00% | 5.00% | 5.00% | ||||||||||||||||||
$3,000m 6.000% Perpetual Subordinated Contingent Convertible Securities | ||||||||||||||||||||||
Notional amount | $ 3,000,000,000 | |||||||||||||||||||||
Other equity instruments interest rate | 6.00% | 6.00% | 6.00% | 6.00% | ||||||||||||||||||
SGD 1000m 4.700% Perpetual Subordinated Contingent Convertible Securities | ||||||||||||||||||||||
Notional amount | $ 1,000,000,000 | |||||||||||||||||||||
Other equity instruments interest rate | 4.70% | 4.70% | 4.70% | 4.70% | ||||||||||||||||||
EUR 1,250m 4.750% Perpetual Subordinated Contingent Convertible Securities | ||||||||||||||||||||||
Notional amount | € | € 1,250,000,000 | |||||||||||||||||||||
Other equity instruments interest rate | 4.75% | 4.75% | 4.75% | 4.75% | ||||||||||||||||||
$1,500m 5.625% Perpetual Subordinated Contingent Convertible Securities | ||||||||||||||||||||||
Notional amount | $ 1,500,000,000 | |||||||||||||||||||||
Other equity instruments interest rate | 5.625% | 5.625% | 5.625% | 5.625% | ||||||||||||||||||
8.125% Perpetual Subordinated Capital Securities | ||||||||||||||||||||||
Notional amount | $ 2,200,000,000 | |||||||||||||||||||||
Other equity instruments interest rate | 8.125% | 8.125% | 8.125% | 8.125% | ||||||||||||||||||
8.000% Perpetual Subordinated Capital Securities, Series 2 | ||||||||||||||||||||||
Notional amount | $ 3,800,000,000 | |||||||||||||||||||||
Other equity instruments interest rate | 8.00% | 8.00% | 8.00% | 8.00% | ||||||||||||||||||
Contingent convertible securities | GBP 1,000m 5.875% Perpetual Subordinated Contingent Convertible Securities | ||||||||||||||||||||||
Notional amount | £ | £ 1,000,000,000 | |||||||||||||||||||||
Other equity instruments interest rate | 5.875% | 5.875% | 5.875% | 5.875% | ||||||||||||||||||
Contingent convertible securities | SGD 750m 5.000% Perpetual Subordinated Contingent Convertible Securities | ||||||||||||||||||||||
Notional amount | $ 750,000,000 | |||||||||||||||||||||
Other equity instruments interest rate | 5.00% | 5.00% | 5.00% | 5.00% | ||||||||||||||||||
Contingent convertible securities | $3,000m 6.000% Perpetual Subordinated Contingent Convertible Securities | ||||||||||||||||||||||
Notional amount | $ 3,000,000,000 | |||||||||||||||||||||
Other equity instruments interest rate | 6.00% | 6.00% | 6.00% | 6.00% | ||||||||||||||||||
Contingent convertible securities | SGD 1000m 4.700% Perpetual Subordinated Contingent Convertible Securities | ||||||||||||||||||||||
Notional amount | $ 1,000,000,000 | |||||||||||||||||||||
Other equity instruments interest rate | 4.70% | 4.70% | 4.70% | 4.70% | ||||||||||||||||||
Contingent convertible securities | EUR 1,250m 4.750% Perpetual Subordinated Contingent Convertible Securities | ||||||||||||||||||||||
Notional amount | € | € 1,250,000,000 | |||||||||||||||||||||
Other equity instruments interest rate | 4.75% | 4.75% | 4.75% | 4.75% | ||||||||||||||||||
Contingent convertible securities | $1,500m 5.625% Perpetual Subordinated Contingent Convertible Securities | ||||||||||||||||||||||
Notional amount | $ 1,500,000,000 | |||||||||||||||||||||
Other equity instruments interest rate | 5.625% | 5.625% | 5.625% | 5.625% | ||||||||||||||||||
Treasury shares | ||||||||||||||||||||||
Number of shares outstanding | shares | 432,108,782 | 379,926,645 | 360,590,019 | 432,108,782 | 432,108,782 | 432,108,782 | 379,926,645 | 379,926,645 | 360,590,019 | 360,590,019 | ||||||||||||
Merger and other reserves | ||||||||||||||||||||||
Cumulative goodwill | $ 3,469,000,000 | |||||||||||||||||||||
Total equity | [3],[4] | 27,370,000,000 | $ 29,777,000,000 | $ 27,308,000,000 | 27,308,000,000 | 27,308,000,000 | ||||||||||||||||
Cumulative acquisition value | $ 15,796,000,000 | |||||||||||||||||||||
Transfers | [3],[4],[5] | (2,475,000,000) | 2,200,000,000 | |||||||||||||||||||
Cancellation of shares | [1],[3],[4] | 68,000,000 | 269,000,000 | [2] | ||||||||||||||||||
Merger and other reserves | HSBC France | ||||||||||||||||||||||
Cumulative acquisition value | $ 8,290,000,000 | |||||||||||||||||||||
Merger and other reserves | HSBC Finance Corporation | ||||||||||||||||||||||
Cumulative acquisition value | $ 12,768,000,000 | |||||||||||||||||||||
Available-for-sale fair value reserve | ||||||||||||||||||||||
Total equity | [6] | (350,000,000) | (477,000,000) | |||||||||||||||||||
Retained earnings | ||||||||||||||||||||||
Cumulative goodwill | 1,669,000,000 | |||||||||||||||||||||
Total equity | [3],[7] | 136,679,000,000 | 138,191,000,000 | 139,999,000,000 | 139,414,000,000 | 136,795,000,000 | ||||||||||||||||
Profit for the year | [3],[7] | 7,383,000,000 | 13,727,000,000 | 10,798,000,000 | ||||||||||||||||||
Transfers | [3],[5],[7] | 2,475,000,000 | (2,200,000,000) | |||||||||||||||||||
Cancellation of shares | [1],[3],[7] | (1,000,000,000) | (4,998,000,000) | [2] | ||||||||||||||||||
Called up share capital and share premium | ||||||||||||||||||||||
Total equity | 24,278,000,000 | 23,789,000,000 | 20,337,000,000 | 20,337,000,000 | 22,715,000,000 | |||||||||||||||||
Cancellation of shares | [1] | (68,000,000) | 2,731,000,000 | [2] | (3,000,000,000) | |||||||||||||||||
HSBC Holdings | ||||||||||||||||||||||
Total equity | $ 145,044,000,000 | $ 147,353,000,000 | $ 103,787,000,000 | 104,677,000,000 | 104,858,000,000 | |||||||||||||||||
Dividends paid on ordinary shares per share (in dollars per share) | $ / shares | $ 0.51 | $ 0.51 | $ 0.51 | |||||||||||||||||||
Distributable reserve | $ 31,656,000,000 | $ 30,705,000,000 | ||||||||||||||||||||
Profit for the year | 9,041,000,000 | 52,825,000,000 | $ 5,539,000,000 | |||||||||||||||||||
Cancellation of shares | (1,000,000,000) | [8] | (1,998,000,000) | [9] | (3,000,000,000) | |||||||||||||||||
Increase in Deferred tax assets | 0 | 0 | ||||||||||||||||||||
HSBC Holdings | Contingent convertible securities | ||||||||||||||||||||||
Payments for debt issue costs | 60,000,000 | 14,000,000 | ||||||||||||||||||||
Intercompany debt issue costs | 49,000,000 | 37,000,000 | ||||||||||||||||||||
Tax effect of issuance of contingent convertible securities | 11,000,000 | 10,000,000 | ||||||||||||||||||||
HSBC Holdings | Contingent convertible securities | $4,150m Perpetual Subordinated Contingent Convertible Securities | ||||||||||||||||||||||
Notional amount | 4,150,000,000 | |||||||||||||||||||||
HSBC Holdings | Contingent convertible securities | GBP 1,000m 5.875% Perpetual Subordinated Contingent Convertible Securities | ||||||||||||||||||||||
Notional amount | £ | £ 1,000,000,000 | |||||||||||||||||||||
HSBC Holdings | Contingent convertible securities | SGD 750m 5.000% Perpetual Subordinated Contingent Convertible Securities | ||||||||||||||||||||||
Notional amount | $ 750,000,000 | |||||||||||||||||||||
HSBC Holdings | Contingent convertible securities | $3,000m 6.000% Perpetual Subordinated Contingent Convertible Securities | ||||||||||||||||||||||
Notional amount | $ 3,000,000,000 | |||||||||||||||||||||
HSBC Holdings | Contingent convertible securities | SGD 1000m 4.700% Perpetual Subordinated Contingent Convertible Securities | ||||||||||||||||||||||
Notional amount | $ 1,000,000,000 | |||||||||||||||||||||
HSBC Holdings | Contingent convertible securities | EUR 1,250m 4.750% Perpetual Subordinated Contingent Convertible Securities | ||||||||||||||||||||||
Notional amount | € | € 1,250,000,000 | |||||||||||||||||||||
HSBC Holdings | Capital securities classified as equity | ||||||||||||||||||||||
Payments for debt issue costs | 172,000,000 | |||||||||||||||||||||
Intercompany debt issue costs | 23,000,000 | |||||||||||||||||||||
HSBC Holdings | Capital securities classified as equity | $1,500m 5.625% Perpetual Subordinated Contingent Convertible Securities | ||||||||||||||||||||||
Notional amount | 1,500,000,000 | |||||||||||||||||||||
Payments for debt issue costs | $ 12,000,000 | |||||||||||||||||||||
Other equity instruments interest rate | 5.625% | 5.625% | 5.625% | 5.625% | ||||||||||||||||||
HSBC Holdings | Capital securities classified as equity | 8.125% Perpetual Subordinated Capital Securities | ||||||||||||||||||||||
Notional amount | $ 2,200,000,000 | |||||||||||||||||||||
Other equity instruments interest rate | 8.125% | 8.125% | 8.125% | |||||||||||||||||||
HSBC Holdings | Capital securities classified as equity | 8.000% Perpetual Subordinated Capital Securities, Series 2 | ||||||||||||||||||||||
Notional amount | $ 3,800,000,000 | |||||||||||||||||||||
Other equity instruments interest rate | 8.00% | 8.00% | 8.00% | |||||||||||||||||||
HSBC Holdings | Treasury shares | ||||||||||||||||||||||
Number of shares outstanding | shares | 326,191,804 | 326,503,319 | 326,843,840 | 326,191,804 | 326,191,804 | 326,191,804 | 326,503,319 | 326,503,319 | 326,843,840 | 326,843,840 | ||||||||||||
Total equity | $ 2,543,000,000 | $ 2,546,000,000 | $ 2,542,000,000 | |||||||||||||||||||
HSBC Holdings | Merger and other reserves | ||||||||||||||||||||||
Total equity | [10] | 37,539,000,000 | 39,899,000,000 | 37,381,000,000 | 37,381,000,000 | 37,371,000,000 | ||||||||||||||||
Distributable reserve | 15,731,000,000 | 15,731,000,000 | ||||||||||||||||||||
Transfers | [10],[11] | (2,475,000,000) | 2,200,000,000 | |||||||||||||||||||
Cancellation of shares | [10] | 68,000,000 | [8] | 269,000,000 | [9] | |||||||||||||||||
HSBC Holdings | Available-for-sale fair value reserve | ||||||||||||||||||||||
Total equity | 59,000,000 | 112,000,000 | ||||||||||||||||||||
HSBC Holdings | Retained earnings | ||||||||||||||||||||||
Total equity | [10],[12] | 62,484,000,000 | 61,434,000,000 | 23,903,000,000 | 24,852,000,000 | 27,656,000,000 | ||||||||||||||||
Distributable reserve | 11,516,000,000 | 14,974,000,000 | ||||||||||||||||||||
Profit for the year | [10],[12] | 9,041,000,000 | 52,825,000,000 | 5,539,000,000 | ||||||||||||||||||
Transfers | [10],[11],[12] | 2,475,000,000 | (2,200,000,000) | |||||||||||||||||||
Cancellation of shares | [10],[12] | (1,000,000,000) | [8] | (4,998,000,000) | [9] | |||||||||||||||||
HSBC Holdings | Retained earnings | HSBC Asia Holdings Overseas Limited | ||||||||||||||||||||||
Profit for the year | 0 | 44,893,000,000 | ||||||||||||||||||||
HSBC Holdings | Share premium | ||||||||||||||||||||||
Total equity | $ 13,959,000,000 | 13,609,000,000 | 10,177,000,000 | 10,177,000,000 | $ 12,619,000,000 | |||||||||||||||||
Cancellation of shares | 2,836,000,000 | [9] | $ (2,836,000,000) | |||||||||||||||||||
2017 Share Buy-Back Program | Merger and other reserves | ||||||||||||||||||||||
Cancellation of shares | 164,000,000 | |||||||||||||||||||||
2017 Share Buy-Back Program | Retained earnings | ||||||||||||||||||||||
Cancellation of shares | (3,000,000,000) | |||||||||||||||||||||
2017 Share Buy-Back Program | Called up share capital and share premium | ||||||||||||||||||||||
Cancellation of shares | 2,836,000,000 | |||||||||||||||||||||
2017 Share Buy-Back Program | HSBC Holdings | Merger and other reserves | ||||||||||||||||||||||
Cancellation of shares | 164,000,000 | |||||||||||||||||||||
2017 Share Buy-Back Program | HSBC Holdings | Retained earnings | ||||||||||||||||||||||
Cancellation of shares | (3,000,000,000) | |||||||||||||||||||||
2017 Share Buy-Back Program | HSBC Holdings | Share premium | ||||||||||||||||||||||
Cancellation of shares | $ 2,836,000,000 | |||||||||||||||||||||
August 2019 Share Buy Back Program | ||||||||||||||||||||||
Authorized amount for share buy-back program | $ 1,000,000,000 | |||||||||||||||||||||
August 2019 Share Buy Back Program | HSBC Holdings | ||||||||||||||||||||||
Authorized amount for share buy-back program | $ 1,000,000,000 | |||||||||||||||||||||
May 2018 Share Buy-Back Program | ||||||||||||||||||||||
Authorized amount for share buy-back program | $ 2,000,000,000 | |||||||||||||||||||||
February 2017 Share Buy-Back Program | ||||||||||||||||||||||
Authorized amount for share buy-back program | $ 1,000,000,000 | |||||||||||||||||||||
July 2017 Share Buy-Back Program | ||||||||||||||||||||||
Authorized amount for share buy-back program | $ 2,000,000,000 | |||||||||||||||||||||
IFRS 9 | ||||||||||||||||||||||
Decrease in net assets | 1,600,000,000 | |||||||||||||||||||||
Additional impairment allowance | 2,200,000,000 | |||||||||||||||||||||
Remeasurement of financial assets and liabilities | 1,100,000,000 | |||||||||||||||||||||
Increase in Deferred tax assets | 400,000,000 | |||||||||||||||||||||
Associates | IFRS 9 | ||||||||||||||||||||||
Decrease in net assets | $ 900,000,000 | |||||||||||||||||||||
[1] | For further details, refer to Note 31 in the Annual Report and Accounts 2019. In August 2019, HSBC announced a share buy-back of up to $1.0bn, which was completed in September 2019. In May 2018, HSBC announced a share buy-back of up to $2.0bn, which was completed in August 2018. In February 2017, HSBC announced a share buy-back of up to $1.0bn, which was completed in April 2017. In July 2017, HSBC announced a share buy-back of up to $2.0bn, which was completed in November 2017. Shares bought back from these buy-back programmes have been cancelled. | |||||||||||||||||||||
[2] | This includes a re-presentation of the cancellation of shares to retained earnings and capital redemption reserve in respect of the 2017 share buy-back, under which retained earnings have been reduced by $3,000m, called up capital and share premium increased by $2,836m and other reserves increased by $164m. | |||||||||||||||||||||
[3] | Cumulative goodwill amounting to $5,138m has been charged against reserves in respect of acquisitions of subsidiaries prior to 1 January 1998, including $3,469m charged against the merger reserve arising on the acquisition of HSBC Bank plc. The balance of $1,669m has been charged against retained earnings. | |||||||||||||||||||||
[4] | Statutory share premium relief under section 131 of the Companies Act 1985 (the ‘Act’) was taken in respect of the acquisition of HSBC Bank plc in 1992, HSBC France in 2000 and HSBC Finance Corporation in 2003, and the shares issued were recorded at their nominal value only. In HSBC’s consolidated financial statements, the fair value differences of $8,290m in respect of HSBC France and $12,768m in respect of HSBC Finance Corporation were recognised in the merger reserve. The merger reserve created on the acquisition of HSBC Finance Corporation subsequently became attached to HSBC Overseas Holdings (UK) Limited (‘HOHU’), following a number of intra-Group reorganisations. During 2009, pursuant to section 131 of the Companies Act 1985, statutory share premium relief was taken in respect of the rights issue and $15,796m was recognised in the merger reserve. | |||||||||||||||||||||
[5] | Permitted transfers from the merger reserve to retained earnings were made when the investment in HSBC Overseas Holdings (UK) Limited was previously impaired. In 2018, a part reversal of this impairment resulted in a transfer from retained earnings back to the merger reserve of $2,200m. At 31 December 2019, an additional impairment of $2,475m was recognised and a permitted transfer of this amount was made from the merger reserve to retained earnings. | |||||||||||||||||||||
[6] | The $350m at 31 December 2017 represents the IAS 39 available-for-sale fair value reserve as at 31 December 2017. | |||||||||||||||||||||
[7] | At 31 December 2019, retained earnings included 432,108,782 treasury shares (2018: 379,926,645; 2017: 360,590,019). In addition, treasury shares are also held within HSBC’s Insurance business retirement funds for the benefit of policyholders or beneficiaries within employee trusts for the settlement of shares expected to be delivered under employee share schemes or bonus plans, and the market-making activities in Global Markets. | |||||||||||||||||||||
[8] | In August 2019, HSBC announced a share buy-back of up to $1.0bn, which was completed in September 2019. | |||||||||||||||||||||
[9] | The 2018 year included a re-presentation of the cancellation of shares to retained earnings and capital redemption reserve in respect of the 2017 share buy-back, under which retained earnings has been reduced by $3,000m, share premium increased by $2,836m and other reserves increased by $164m. | |||||||||||||||||||||
[10] | HSBC Holdings distributable reserves at 31 December 2019 of $31,656m (2018: $30,705m) represents realised profits for the year included in retained earnings of $11,516m (2018: $14,974m) and in merger reserve of $15,731m (2018: $15,731m). The distributable reserves are lower than retained earnings of $62,484m (2018: $61,434m). In 2018, $44,893m (2019: nil) represented income generated from restructuring the Group’s Asia operation to meet resolution and recovery requirements, which does not form part of distributable reserves. | |||||||||||||||||||||
[11] | Permitted transfers from the merger reserve to retained earnings were made when the investment in HSBC Overseas Holdings (UK) Limited was previously impaired. In 2018, a part reversal of this impairment resulted in a transfer from retained earnings back to the merger reserve of $2,200m. At 31 December 2019, an additional impairment of $2,475m was recognised and a permitted transfer of this amount was made from the merger reserve to retained earnings. | |||||||||||||||||||||
[12] | At 31 December 2019, retained earnings included 326,191,804 ($2,543m) of treasury shares (2018: 326,503,319 ($2,546m); 2017: 326,843,840 ($2,542m)). |
Basis of preparation and signif
Basis of preparation and significant accounting policies | 12 Months Ended |
Dec. 31, 2019 | |
Corporate Information And Statement Of IFRS Compliance [Abstract] | |
Basis of preparation and significant accounting policies | 1 Basis of preparation and significant accounting policies 1.1 Basis of preparation (a) Compliance with International Financial Reporting Standards The consolidated financial statements of HSBC and the separate financial statements of HSBC Holdings have been prepared in accordance with International Financial Reporting Standards (‘IFRSs’) as issued by the International Accounting Standards Board (‘IASB’), including interpretations issued by the IFRS Interpretations Committee, and as endorsed by the European Union (‘EU’). Interest Rate Benchmark Reform: Amendments to IFRS 9 and IAS 39 ‘Financial Instruments’, was endorsed in January 2020 and has been early adopted as set out below. Therefore, there were no unendorsed standards effective for the year ended 31 December 2019 affecting these consolidated and separate financial statements, and HSBC’s application of IFRSs results in no differences between IFRSs as issued by the IASB and IFRSs as endorsed by the EU . Standards adopted during the year ended 31 December 2019 IFRS 16 ‘Leases’ On 1 January 2019, we adopted the requirements of IFRS 16 retrospectively. The cumulative effect of initially applying the standard was recognised as an adjustment to the opening balance of retained earnings at that date. Comparatives were not restated. The adoption of the standard increased assets by $5bn and increased financial liabilities by the same amount with no effect on net assets or retained earnings. On adoption of IFRS 16, we recognised lease liabilities in relation to leases that had previously been classified as ‘operating leases’ in accordance with IAS 17 ‘Leases’. These liabilities were recognised in ’other liabilities’ and measured at the present value of the remaining lease payments, discounted at the lessee’s incremental borrowing rate at 1 January 2019. The associated right of use (‘ROU’) assets were recognised in ’other assets’ and measured at the amount equal to the lease liability, adjusted by the amount of any prepaid or accrued lease payments or provisions for onerous leases recognised on the balance sheet at 31 December 2018. In addition, the following practical expedients permitted by the standard were applied: • reliance was placed on previous assessments on whether leases were onerous ; • operating leases with a remaining lease term of less than 12 months at 1 January 2019 were treated as short-term leases; and • initial direct costs were not included in the measurement of ROU assets for leases previously accounted for as operating leases. The differences between IAS 17 and IFRS 16 are summarised in the table below : IAS 17 IFRS 16 Leases were classified as either finance or operating leases. Payments made under operating leases were charged to profit or loss on a straight-line basis over the period of the lease. Leases are recognised as an ROU asset and a corresponding liability at the date at which the leased asset is made available for use. Lease payments are allocated between the liability and finance cost. The finance cost is charged to profit or loss over the lease term so as to produce a constant period rate of interest on the remaining balance of the liability. The ROU asset is depreciated over the shorter of the ROU asset’s useful economic life and the lease term on a straight-line basis. In determining the lease term, we consider all facts and circumstances that create an economic incentive to exercise an extension option or not exercise a termination option over the planning horizon of five years. In general, it is not expected that the discount rate implicit in the lease is available so the lessee’s incremental borrowing rate is used. This is the rate that the lessee would have to pay to borrow the funds necessary to obtain an asset of a similar value in a similar economic environment with similar terms and conditions. The rates are determined for each economic environment in which we operate and for each term by adjusting swap rates with funding spreads (own credit spread) and cross-currency basis where appropriate. Interest Rate Benchmark Reform: Amendments to IFRS 9 and IAS 39 ‘Financial Instruments’ Amendments to IFRS 9 and IAS 39 issued in September 2019 modify specific hedge accounting requirements so that entities apply those hedge accounting requirements assuming that the interest rate benchmark on which the hedged cash flows and cash flows of the hedging instrument are based is not altered as a result of interest rate benchmark reform. These amendments replace the need for specific judgements to determine whether certain hedge accounting relationships that hedge the variability of cash flows or interest rate risk exposures for periods after the interest rate benchmarks are expected to be reformed or replaced continue to qualify for hedge accounting as at 31 December 2019. For example, in the context of cash flow hedging, the amendments require the interest rate benchmark on which the hedged cash flows are based, or on which the cash flows of the hedging instrument are based, to be assumed to be unaltered over the period of the documented hedge relationship, while uncertainty over the interest rate benchmark reform exists. The IASB is expected to provide further guidance on the implication for hedge accounting during the reform process and after the reform uncertainty is resolved. These amendments apply from 1 January 2020 with early adoption permitted. HSBC has adopted the amendments that apply to IAS 39 from 1 January 2019 and has made the additional disclosures as required by the amendments. Further information is included in Note 15 . Amendment to IAS 12 ‘Income Taxes’ and other changes An amendment to IAS 12 was issued in December 2017 as part of the annual improvement cycle. The amendment clarifies that an entity should recognise the tax consequences of dividends where the transactions or events that generated the distributable profits are recognised. This amendment was applied on 1 January 2019 and had no material impact. Comparatives have not been restated. In addition, HSBC has adopted a number of interpretations and amendments to standards, which have had an insignificant effect on the consolidated financial statements of HSBC and the separate financial statements of HSBC Holdings. In 2018, HSBC adopted IFRS 9 and made voluntary presentation changes, including to certain financial liabilities, which contain both deposit and derivative components, and to cash collateral, margin and settlement accounts. The impact of this is included in the HSBC Holdings statement of changes in equity for that year end and 2017 comparatives were not restated. (b) Differences between IFRSs and Hong Kong Financial Reporting Standards There are no significant differences between IFRSs and Hong Kong Financial Reporting Standards in terms of their application to HSBC, and consequently there would be no significant differences had the financial statements been prepared in accordance with Hong Kong Financial Reporting Standards. The ‘Notes on the financial statements’, taken together with the ‘Report of the Directors’, include the aggregate of all disclosures necessary to satisfy IFRSs and Hong Kong reporting requirements. (c) Future accounting developments Minor amendments to IFRSs The IASB has published a number of minor amendments to IFRSs that are effective from 1 January 2020, some of which have been endorsed for use in the EU. HSBC expects they will have an insignificant effect, when adopted, on the consolidated financial statements of HSBC and the separate financial statements of HSBC Holdings. Major new IFRSs IFRS 17 ‘Insurance Contracts’ IFRS 17 ‘Insurance Contracts’ was issued in May 2017 and sets out the requirements that an entity should apply in accounting for insurance contracts it issues and reinsurance contracts it holds. IFRS 17 is currently effective from 1 January 2021. However, the IASB is considering delaying the mandatory implementation date by one year and may make additional changes to the standard. The Group is in the process of implementing IFRS 17. Industry practice and interpretation of the standard are still developing and there may be changes to it. Therefore the likely impact of its implementation remains uncertain. (d) Foreign currencies HSBC’s consolidated financial statements are presented in US dollars because the US dollar and currencies linked to it form the major currency bloc in which HSBC transacts and funds its business. The US dollar is also HSBC Holdings’ functional currency because the US dollar and currencies linked to it are the most significant currencies relevant to the underlying transactions, events and conditions of its subsidiaries, as well as representing a significant proportion of its funds generated from financing activities. Transactions in foreign currencies are recorded at the rate of exchange on the date of the transaction. Assets and liabilities denominated in foreign currencies are translated at the rate of exchange at the balance sheet date, except non-monetary assets and liabilities measured at historical cost, which are translated using the rate of exchange at the initial transaction date. Exchange differences are included in other comprehensive income or in the income statement depending on where the gain or loss on the underlying item is recognised. In the consolidated financial statements, the assets, liabilities and results of foreign operations, whose functional currency is not US dollars, are translated into the Group’s presentation currency at the reporting date. Exchange differences arising are recognised in other comprehensive income. On disposal of a foreign operation, exchange differences previously recognised in other comprehensive income are reclassified to the income statement. (e) Presentation of information Certain disclosures required by IFRSs have been included in the sections marked as (‘Audited’) in this Annual Report and Accounts 2019 as follows: • disclosures concerning the nature and extent of risks relating to insurance contracts and financial instruments are included in the ‘Report of the Directors: Risk’ on pages 95 to 187 ; • the ‘Own funds disclosure’ included in the ‘Report of the Directors: Capital’ on pages 188 to 191 ; and • disclosures relating to HSBC’s securitisation activities and structured products are included in the ‘Report of the Directors: Risk’ on pages 95 to 187 . In accordance with the policy to provide disclosures that help investors and other stakeholders understand the Group’s performance, financial position and changes to them, the information provided in the ‘Notes on the financial statements’ and the ‘Report of the Directors’ goes beyond the minimum levels required by accounting standards, statutory and regulatory requirements and listing rules. In addition, HSBC follows the UK Finance Disclosure Code (‘the UKF Disclosure Code’). The UKF Disclosure Code aims to increase the quality and comparability of UK banks’ disclosures and sets out five disclosure principles together with supporting guidance agreed in 2010. In line with the principles of the UKF Disclosure Code, HSBC assesses good practice recommendations issued from time to time by relevant regulators and standard setters, and will assess the applicability and relevance of such guidance, enhancing disclosures where appropriate. (f) Critical accounting estimates and judgements The preparation of financial information requires the use of estimates and judgements about future conditions. In view of the inherent uncertainties and the high level of subjectivity involved in the recognition or measurement of items, highlighted as the ‘critical accounting estimates and judgements’ in section 1.2 below, it is possible that the outcomes in the next financial year could differ from those on which management’s estimates are based. This could result in materially different estimates and judgements from those reached by management for the purposes of these financial statements. Management’s selection of HSBC’s accounting policies that contain critical estimates and judgements reflects the materiality of the items to which the policies are applied and the high degree of judgement and estimation uncertainty involved. (g) Segmental analysis HSBC’s Chief Operating Decision Maker is the Group Chief Executive, who is supported by the rest of the Group Management Board (‘GMB’), which operates as a general management committee under the direct authority of the Board. Operating segments are reported in a manner consistent with the internal reporting provided to the Group Chief Executive and the GMB. Measurement of segmental assets, liabilities, income and expenses is in accordance with the Group’s accounting policies. Segmental income and expenses include transfers between segments, and these transfers are conducted at arm’s length. Shared costs are included in segments on the basis of the actual recharges made. (h) Going concern The financial statements are prepared on a going concern basis, as the Directors are satisfied that the Group and parent company have the resources to continue in business for the foreseeable future. In making this assessment, the Directors have considered a wide range of information relating to present and future conditions, including future projections of profitability, cash flows and capital resources. 1.2 Summary of significant accounting policies (a) Consolidation and related policies Investments in subsidiaries Where an entity is governed by voting rights, HSBC consolidates when it holds – directly or indirectly – the necessary voting rights to pass resolutions by the governing body. In all other cases, the assessment of control is more complex and requires judgement of other factors, including having exposure to variability of returns, power to direct relevant activities, and whether power is held as agent or principal. Business combinations are accounted for using the acquisition method. The amount of non-controlling interest is measured either at fair value or at the non-controlling interest’s proportionate share of the acquiree’s identifiable net assets. This election is made for each business combination. HSBC Holdings’ investments in subsidiaries are stated at cost less impairment losses. Goodwill Goodwill is allocated to cash-generating units (‘CGUs’) for the purpose of impairment testing, which is undertaken at the lowest level at which goodwill is monitored for internal management purposes. HSBC’s CGUs are based on geographical regions subdivided by global business, except for Global Banking and Markets, for which goodwill is monitored on a global basis. Impairment testing is performed at least once a year, or whenever there is an indication of impairment, by comparing the recoverable amount of a CGU with its carrying amount. Goodwill is included in a disposal group if the disposal group is a CGU to which goodwill has been allocated or it is an operation within such a CGU. The amount of goodwill included in a disposal group is measured on the basis of the relative values of the operation disposed of and the portion of the CGU retained. Critical accounting estimates and judgements The review of goodwill for impairment reflects management’s best estimate of the future cash flows of the CGUs and the rates used to discount these cash flows, both of which are subject to uncertain factors as follows: Judgements Estimates • The accuracy of forecast cash flows is subject to a high degree of uncertainty in volatile market conditions. Where such circumstances are determined to exist, management re-tests goodwill for impairment more frequently than once a year when indicators of impairment exist. This ensures that the assumptions on which the cash flow forecasts are based continue to reflect current market conditions and management’s best estimate of future business prospects • The future cash flows of the CGUs are sensitive to the cash flows projected for the periods for which detailed forecasts are available and to assumptions regarding the long-term pattern of sustainable cash flows thereafter. Forecasts are compared with actual performance and verifiable economic data, but they reflect management’s view of future business prospects at the time of the assessment • The rates used to discount future expected cash flows can have a significant effect on their valuation, and are based on the costs of capital assigned to individual CGUs. The cost of capital percentage is generally derived from a capital asset pricing model, which incorporates inputs reflecting a number of financial and economic variables, including the risk-free interest rate in the country concerned and a premium for the risk of the business being evaluated. These variables are subject to fluctuations in external market rates and economic conditions beyond management’s control • Key assumptions used in estimating goodwill impairment are described in Note 21 HSBC sponsored structured entities HSBC is considered to sponsor another entity if, in addition to ongoing involvement with the entity, it had a key role in establishing that entity or in bringing together relevant counterparties so the transaction that is the purpose of the entity could occur. HSBC is generally not considered a sponsor if the only involvement with the entity is merely administrative. Interests in associates and joint arrangements Joint arrangements are investments in which HSBC, together with one or more parties, has joint control. Depending on HSBC’s rights and obligations, the joint arrangement is classified as either a joint operation or a joint venture. HSBC classifies investments in entities over which it has significant influence, and that are neither subsidiaries nor joint arrangements, as associates. HSBC recognises its share of the assets, liabilities and results in a joint operation. Investments in associates and interests in joint ventures are recognised using the equity method. The attributable share of the results and reserves of joint ventures and associates is included in the consolidated financial statements of HSBC based on either financial statements made up to 31 December or pro-rated amounts adjusted for any material transactions or events occurring between the date the financial statements are available and Investments in associates and joint ventures are assessed at each reporting date and tested for impairment when there is an indication that the investment may be impaired. Goodwill on acquisitions of interests in joint ventures and associates is not tested separately for impairment, but is assessed as part of the carrying amount of the investment. Critical accounting estimates and judgements The most significant critical accounting judgements and estimates relate to the assessment of impairment of our investment in Bank of Communications Co. Limited (‘BoCom’), which involves estimations of value in use: Judgements Estimates • Management’s best estimate of BoCom’s earnings are based on management’s explicit forecasts over the short to medium term and the capital maintenance charge, which is management’s forecast of the earnings that need to be withheld in order for BoCom to meet regulatory requirements over the forecast period, both of which are subject to uncertain factors • Key assumptions used in estimating BoCom’s value in use, the sensitivity of the value in use calculations to different assumptions and a sensitivity analysis that shows the changes in key assumptions that would reduce the excess of value in use over the carrying amount (the ‘headroom’) to nil are described in Note 18 (b) Income and expense Operating income Interest income and expense Interest income and expense for all financial instruments, excluding those classified as held for trading or designated at fair value, are recognised in ‘Interest income’ and ‘Interest expense’ in the income statement using the effective interest method. However, as an exception to this, interest on debt instruments issued by HSBC for funding purposes that are designated under the fair value option to reduce an accounting mismatch and on derivatives managed in conjunction with those debt instruments is included in interest expense. Interest on credit-impaired financial assets is recognised using the rate of interest used to discount the future cash flows for the purpose of measuring the impairment loss. Non-interest income and expense HSBC generates fee income from services provided at a fixed price over time, such as account service and card fees, or when HSBC delivers a specific transaction at a point in time, such as broking services and import/export services. With the exception of certain fund management and performance fees, all other fees are generated at a fixed price. Fund management and performance fees can be variable depending on the size of the customer portfolio and HSBC’s performance as fund manager. Variable fees are recognised when all uncertainties are resolved. Fee income is generally earned from short-term contracts with payment terms that do not include a significant financing component. HSBC acts as principal in the majority of contracts with customers, with the exception of broking services. For most brokerage trades, HSBC acts as agent in the transaction and recognises broking income net of fees payable to other parties in the arrangement. HSBC recognises fees earned on transaction-based arrangements at a point in time when it has fully provided the service to the customer. Where the contract requires services to be provided over time, income is recognised on a systematic basis over the life of the agreement. Where HSBC offers a package of services that contains multiple non-distinct performance obligations, such as those included in account service packages, the promised services are treated as a single performance obligation. If a package of services contains distinct performance obligations, such as those including both account and insurance services, the corresponding transaction price is allocated to each performance obligation based on the estimated stand-alone selling prices. Dividend income is recognised when the right to receive payment is established. This is the ex-dividend date for listed equity securities, and usually the date when shareholders approve the dividend for unlisted equity securities. Net income/(expense) from financial instruments measured at fair value through profit or loss includes the following: • ‘Net income from financial instruments held for trading or managed on a fair value basis’: This comprises net trading income, which includes all gains and losses from changes in the fair value of financial assets and financial liabilities held for trading and other financial instruments managed on a fair value basis, together with the related interest income, expense and dividends, excluding the effect of changes in the credit risk of liabilities managed on a fair value basis. It also includes all gains and losses from changes in the fair value of derivatives that are managed in conjunction with financial assets and liabilities measured at fair value through profit or loss. • ‘Net income/(expense) from assets and liabilities of insurance businesses, including related derivatives, measured at fair value through profit or loss’: This includes interest income, interest expense and dividend income in respect of financial assets and liabilities measured at fair value through profit or loss; and those derivatives managed in conjunction with the above that can be separately identifiable from other trading derivatives. • ‘Changes in fair value of designated debt instruments and related derivatives’: Interest paid on debt instruments and interest cash flows on related derivatives is presented in interest expense where doing so reduces an accounting mismatch. • ‘Changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss’: This includes interest on instruments that fail the solely payments of principal and interest test, see (d) below. The accounting policies for insurance premium income are disclosed in Note 1.2(j). (c) Valuation of financial instruments All financial instruments are initially recognised at fair value. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value of a financial instrument on initial recognition is generally its transaction price (that is, the fair value of the consideration given or received). However, if there is a difference between the transaction price and the fair value of financial instruments whose fair value is based on a quoted price in an active market or a valuation technique that uses only data from observable markets, HSBC recognises the difference as a trading gain or loss at inception (a ‘day 1 gain or loss’). In all other cases, the entire day 1 gain or loss is deferred and recognised in the income statement over the life of the transaction until the transaction matures, is closed out, the valuation inputs become observable or HSBC enters into an offsetting transaction. The fair value of financial instruments is generally measured on an individual basis. However, in cases where HSBC manages a group of financial assets and liabilities according to its net market or credit risk exposure, the fair value of the group of financial instruments is measured on a net basis but the underlying financial assets and liabilities are presented separately in the financial statements, unless they satisfy the IFRS offsetting criteria. Critical accounting estimates and judgements The majority of valuation techniques employ only observable market data. However, certain financial instruments are classified on the basis of valuation techniques that feature one or more significant market inputs that are unobservable, and for them, the measurement of fair value is more judgemental: Judgements Estimates • An instrument in its entirety is classified as valued using significant unobservable inputs if, in the opinion of management, a significant proportion of the instrument’s inception profit or greater than 5% of the instrument’s valuation is driven by unobservable inputs • ‘Unobservable’ in this context means that there is little or no current market data available from which to determine the price at which an arm’s length transaction would be likely to occur. It generally does not mean that there is no data available at all upon which to base a determination of fair value (consensus pricing data may, for example, be used) • Details on the Group’s level 3 financial instruments and the sensitivity of their valuation to the effect of applying reasonable possible alternative assumptions in determining their fair value are set out in Note 12 (d) Financial instruments measured at amortised cost Financial assets that are held to collect the contractual cash flows and which contain contractual terms that give rise on specified dates to cash flows that are solely payments of principal and interest are measured at amortised cost. Such financial assets include most loans and advances to banks and customers and some debt securities. In addition, most financial liabilities are measured at amortised cost. HSBC accounts for regular way amortised cost financial instruments using trade date accounting. The carrying value of these financial assets at initial recognition includes any directly attributable transactions costs. If the initial fair value is lower than the cash amount advanced, such as in the case of some leveraged finance and syndicated lending activities, the difference is deferred and recognised over the life of the loan through the recognition of interest income. HSBC may commit to underwriting loans on fixed contractual terms for specified periods of time. When the loan arising from the lending commitment is expected to be held for trading, the commitment to lend is recorded as a derivative. When HSBC intends to hold the loan, the loan commitment is included in the impairment calculations set out below. Non-trading reverse repurchase, repurchase and similar agreements When debt securities are sold subject to a commitment to repurchase them at a predetermined price (‘repos’), they remain on the balance sheet and a liability is recorded in respect of the consideration received. Securities purchased under commitments to resell (‘reverse repos’) are not recognised on the balance sheet and an asset is recorded in respect of the initial consideration paid. Non-trading repos and reverse repos are measured at amortised cost. The difference between the sale and repurchase price or between the purchase and resale price is treated as interest and recognised in net interest income over the life of the agreement. Contracts that are economically equivalent to reverse repo or repo agreements (such as sales or purchases of debt securities entered into together with total return swaps with the same counterparty) are accounted for similarly to, and presented together with, reverse repo or repo agreements. (e) Financial assets measured at fair value through other comprehensive income Financial assets held for a business model that is achieved by both collecting contractual cash flows and selling and which contain contractual terms that give rise on specified dates to cash flows that are solely payments of principal and interest are measured at fair value through other comprehensive income (‘FVOCI’). These comprise primarily debt securities. They are recognised on the trade date when HSBC enters into contractual arrangements to purchase and are normally derecognised when they are either sold or redeemed. They are subsequently remeasured at fair value and changes therein (except for those relating to impairment, interest income and foreign currency exchange gains and losses) are recognised in other comprehensive income until the assets are sold. Upon disposal, the cumulative gains or losses in other comprehensive income are recognised in the income statement as ‘Gains less losses from financial instruments’. Financial assets measured at FVOCI are included in the impairment calculations set out below and impairment is recognised in profit or loss. (f) Equity securities measured at fair value with fair value movements presented in other comprehensive income The equity securities for which fair value movements are shown in other comprehensive income are business facilitation and other similar investments where HSBC holds the investments other than to generate a capital return. Gains or losses on the derecognition of these equity securities are not transferred to profit or loss. Otherwise, equity securities are measured at fair value through profit or loss (except for dividend income, which is recognised in profit or loss). (g) Financial instruments designated at fair value through profit or loss Financial instruments, other than those held for trading, are classified in this category if they meet one or more of the criteria set out below and are so designated irrevocably at inception: • the use of the designation removes or significantly reduces an accounting mismatch; • a group of financial assets and liabilities or a group of financial liabilities is managed and its performance is evaluated on a fair value basis, in accordance with a documented risk management or investment strategy; and • the financial liability contains one or more non-closely related embedded derivatives. Designated financial assets are recognised when HSBC enters into contracts with counterparties, which is generally on trade date, and are normally derecognised when the rights to the cash flows expire or are transferred. Designated financial liabilities are recognised when HSBC enters into contracts with counterparties, which is generally on settlement date, and are normally derecognised when extinguished. Subsequent changes in fair values are recognised in the income statement in ‘Net income from financial instruments held for trading or managed on a fair value basis’ or ‘Net income/(expense) from assets and liabilities of insurance businesses, including related derivatives, measured at fair value through profit or loss’ except for the effect of changes in the liabilities’ credit risk, which is presented in ‘Other comprehensive income’, unless that treatment would create or enlarge an accounting mismatch in profit or loss. Under the above criterion, the main classes of financial instruments designated by HSBC are: • Debt instruments for funding purposes that are designated to reduce an accounting mis |
Net fee income
Net fee income | 12 Months Ended |
Dec. 31, 2019 | |
Analysis of income and expense [abstract] | |
Net fee income | 2 Net fee income Net fee income by global business 2019 Retail Commercial Global Global Private Corporate Centre Total $m $m $m $m $m $m Funds under management 1,295 120 460 302 — 2,177 Account services 890 654 365 101 (7 ) 2,003 Cards 1,602 358 15 — — 1,975 Credit facilities 75 785 743 15 — 1,618 Broking income 366 40 532 119 — 1,057 Unit trusts 921 22 2 90 — 1,035 Underwriting — 6 821 3 (1 ) 829 Remittances 73 362 311 4 (3 ) 747 Global custody 90 18 564 45 — 717 Imports/exports — 497 164 1 — 662 Insurance agency commission 324 20 1 32 — 377 Other 1,097 891 2,362 193 (2,301 ) 2,242 Fee income 6,733 3,773 6,340 905 (2,312 ) 15,439 Less: fee expense (1,861 ) (370 ) (3,287 ) (134 ) 2,236 (3,416 ) Net fee income 4,872 3,403 3,053 771 (76 ) 12,023 2018 2017 Retail Banking and Wealth Commercial Global Global Private Corporate Centre Total Total $m $m $m $m $m $m $m Funds under management 1,383 134 421 284 (1 ) 2,221 2,188 Account services 991 748 332 106 — 2,177 2,244 Cards 1,575 370 16 — (5 ) 1,956 1,994 Credit facilities 71 824 813 16 (1 ) 1,723 1,718 Broking income 494 44 533 139 — 1,210 1,191 Unit trusts 937 25 3 73 — 1,038 1,010 Underwriting 1 10 708 4 — 723 829 Remittances 96 357 320 5 — 778 759 Global custody 100 18 584 35 (1 ) 736 692 Imports/exports 3 532 176 2 (4 ) 709 736 Insurance agency commission 354 23 1 27 (1 ) 404 410 Other 1,110 858 2,362 186 (2,147 ) 2,369 2,082 Fee income 7,115 3,943 6,269 877 (2,160 ) 16,044 15,853 Less: fee expense (1,917 ) (388 ) (3,040 ) (135 ) 2,056 (3,424 ) (3,042 ) Net Fee income 5,198 3,555 3,229 742 (104 ) 12,620 12,811 Net fee income includes $6,647m of fees earned on financial assets that are not at fair value through profit or loss (other than amounts included in determining the effective interest rate) (2018: $7,522m ; 2017: $7,577m ), $1,450m of fees payable on financial liabilities that are not at fair value through profit or loss (other than amounts included in determining the effective interest rate) (2018: $1,682m ; 2017: $1,475m ), $3,110m of fees earned on trust and other fiduciary activities (2018: $3,165m ; 2017: $3,088m ) and $237m of fees payable relating to trust and other fiduciary activities (2018: $175m ; 2017: $134m ). |
Net income from financial instr
Net income from financial instruments measured at fair value through profit and loss | 12 Months Ended |
Dec. 31, 2019 | |
Analysis of income and expense [abstract] | |
Net income from financial instruments measured at fair value through profit and loss | 3 Net income from financial instruments measured at fair value through profit or loss 2019 2018 2017 Footnotes $m $m $m Net income/(expense) arising on: Net trading activities 1 16,121 6,982 8,236 Other instruments managed on a fair value basis 1 (5,890 ) 2,549 190 Net income from financial instruments held for trading or managed on a fair value basis 10,231 9,531 8,426 Financial assets held to meet liabilities under insurance and investment contracts 3,830 (1,585 ) 3,211 Liabilities to customers under investment contracts (352 ) 97 (375 ) Net income/(expense) from assets and liabilities of insurance businesses, including related derivatives, measured at fair value through profit or loss 3,478 (1,488 ) 2,836 Derivatives managed in conjunction with HSBC’s issued debt securities 2,561 (626 ) (343 ) Other changes in fair value (2,471 ) 529 498 Changes in fair value of designated debt and related derivatives 2 90 (97 ) 155 Changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss 812 695 N/A Year ended 31 Dec 14,611 8,641 11,417 1 At 1 January 2018 we changed our accounting policy for financial liabilities that contain both deposit and derivative components. As a result, net income from these instruments is reported in ‘Other instruments managed on a fair value basis’ rather than ‘Trading activities’. Comparative periods have not been re-presented. 2 The debt instruments, issued for funding purposes, are designated under the fair value option to reduce an accounting mismatch. HSBC Holdings 2019 2018 2017 $m $m $m Net income/(expense) arising on: – trading activities (559 ) (176 ) (392 ) – other instruments managed at on a fair value basis 2,036 421 211 Net income from financial instruments held for trading or managed on a fair value basis 1,477 245 (181 ) – Derivatives managed in conjunction with HSBC Holdings-issued debt securities 764 (337 ) 292 – Other changes in fair value (1,124 ) 260 (189 ) Changes in fair value of designated debt and related derivatives (360 ) (77 ) 103 Changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss 1,659 43 — Year ended 31 Dec 2,776 211 (78 ) |
Insurance business
Insurance business | 12 Months Ended |
Dec. 31, 2019 | |
Insurance Contracts [Abstract] | |
Insurance business | 4 Insurance business Net insurance premium income Non-linked insurance Linked life insurance Investment contracts with DPF 1 Total $m $m $m $m Gross insurance premium income 9,353 489 2,266 12,108 Reinsurers’ share of gross insurance premium income (1,465 ) (7 ) — (1,472 ) Year ended 31 Dec 2019 7,888 482 2,266 10,636 Gross insurance premium income 8,616 422 2,300 11,338 Reinsurers’ share of gross insurance premium income (672 ) (7 ) — (679 ) Year ended 31 Dec 2018 7,944 415 2,300 10,659 Gross insurance premium income 8,424 351 2,027 10,802 Reinsurers’ share of gross insurance premium income (1,016 ) (7 ) — (1,023 ) Year ended 31 Dec 2017 7,408 344 2,027 9,779 1 Discretionary participation features. Net insurance claims and benefits paid and movement in liabilities to policyholders Non-linked insurance Linked life insurance Investment contracts with DPF 1 Total $m $m $m $m Gross claims and benefits paid and movement in liabilities 11,305 1,217 3,810 16,332 – claims, benefits and surrenders paid 3,783 900 1,921 6,604 – movement in liabilities 7,522 317 1,889 9,728 Reinsurers’ share of claims and benefits paid and movement in liabilities (1,402 ) (4 ) — (1,406 ) – claims, benefits and surrenders paid (411 ) (17 ) — (428 ) – movement in liabilities (991 ) 13 — (978 ) Year ended 31 Dec 2019 9,903 1,213 3,810 14,926 Gross claims and benefits paid and movement in liabilities 8,943 (446 ) 1,724 10,221 – claims, benefits and surrenders paid 3,852 1,088 1,869 6,809 – movement in liabilities 5,091 (1,534 ) (145 ) 3,412 Reinsurers’ share of claims and benefits paid and movement in liabilities (605 ) 191 — (414 ) – claims, benefits and surrenders paid (311 ) (181 ) — (492 ) – movement in liabilities (294 ) 372 — 78 Year ended 31 Dec 2018 8,338 (255 ) 1,724 9,807 Gross claims and benefits paid and movement in liabilities 8,894 1,413 2,901 13,208 – claims, benefits and surrenders paid 2,883 1,044 2,002 5,929 – movement in liabilities 6,011 369 899 7,279 Reinsurers’ share of claims and benefits paid and movement in liabilities (942 ) 65 — (877 ) – claims, benefits and surrenders paid (297 ) (223 ) — (520 ) – movement in liabilities (645 ) 288 — (357 ) Year ended 31 Dec 2017 7,952 1,478 2,901 12,331 1 Discretionary participation features. Liabilities under insurance contracts Non-linked insurance Linked life insurance Investment contracts with DPF 1 Total Footnotes $m $m $m $m Gross liabilities under insurance contracts at 1 Jan 2019 57,283 5,789 24,258 87,330 Claims and benefits paid (3,804 ) (900 ) (1,900 ) (6,604 ) Increase in liabilities to policyholders 11,326 1,217 3,789 16,332 Exchange differences and other movements 2 519 45 (183 ) 381 Gross liabilities under insurance contracts at 31 Dec 2019 65,324 6,151 25,964 97,439 Reinsurers’ share of liabilities under insurance contracts (3,521 ) (71 ) — (3,592 ) Net liabilities under insurance contracts at 31 Dec 2019 61,803 6,080 25,964 93,847 Gross liabilities under insurance contracts at 1 Jan 2018 52,112 7,548 26,007 85,667 Impact on transition to IFRS 9 (69 ) — — (69 ) Claims and benefits paid (3,852 ) (1,088 ) (1,869 ) (6,809 ) Increase in liabilities to policyholders 8,943 (446 ) 1,724 10,221 Exchange differences and other movements 2 149 (225 ) (1,604 ) (1,680 ) Gross liabilities under insurance contracts at 31 Dec 2018 57,283 5,789 24,258 87,330 Reinsurers’ share of liabilities under insurance contracts (2,438 ) (68 ) — (2,506 ) Net liabilities under insurance contracts at 31 Dec 2018 54,845 5,721 24,258 84,824 1 Discretionary participation features. 2 ‘Exchange differences and other movements’ includes movements in liabilities arising from net unrealised investment gains recognised in other comprehensive income. The key factors contributing to the movement in liabilities to policyholders included movements in the market value of assets supporting policyholder liabilities, death claims, surrenders, lapses, liabilities to policyholders created at the initial inception of the policies, the declaration of bonuses and other amounts attributable to policyholders. |
Employee compensation and benef
Employee compensation and benefits | 12 Months Ended |
Dec. 31, 2019 | |
Employee Compensation And Benefits [Abstract] | |
Employee compensation and benefits | 5 Employee compensation and benefits 2019 2018 2017 $m $m $m Wages and salaries 15,581 14,751 15,227 Social security costs 1,472 1,490 1,419 Post-employment benefits 949 1,132 669 Year ended 31 Dec 18,002 17,373 17,315 Average number of persons employed by HSBC during the year by global business Footnotes 2019 2018 2017 Retail Banking and Wealth Management 141,044 135,239 134,021 Commercial Banking 46,416 48,757 46,716 Global Banking and Markets 51,127 48,990 49,100 Global Private Banking 7,099 8,206 7,817 Corporate Centre 1 1,369 1,658 7,134 Year ended 31 Dec 247,055 242,850 244,788 1 The reduction in the average number of people employed was due to the completion of the cost to achieve transformation programme at the end of 2017. Average number of persons employed by HSBC during the year by geographical region 2019 2018 2017 Europe 66,392 67,007 70,301 Asia 133,624 127,992 125,004 Middle East and North Africa 9,798 9,798 10,408 North America 16,615 17,350 18,610 Latin America 20,626 20,703 20,465 Year ended 31 Dec 247,055 242,850 244,788 Reconciliation of total incentive awards granted to income statement charge 2019 2018 2017 $m $m $m Total incentive awards approved for the current year 3,341 3,473 3,303 Less: deferred bonuses awarded, expected to be recognised in future periods (337 ) (351 ) (337 ) Total incentives awarded and recognised in the current year 3,004 3,122 2,966 Add: current year charges for deferred bonuses from previous years 327 322 336 Other (55 ) (70 ) (78 ) Income statement charge for incentive awards 3,276 3,374 3,224 Share-based payments ‘Wages and salaries’ includes the effect of share-based payments arrangements, of which $478m were equity settled (2018: $450m ; 2017: $500m ), as follows: 2019 2018 2017 $m $m $m Conditional share awards 521 499 520 Savings-related and other share award option plans 30 23 26 Year ended 31 Dec 551 522 546 HSBC share awards Award Policy Deferred share awards (including annual incentive awards, LTI awards delivered in shares) and Group Performance Share Plans (‘GPSP’) • An assessment of performance over the relevant period ending on 31 December is used to determine the amount of the award to be granted. International Employee Share Purchase Plan (‘ShareMatch’) • The plan was first introduced in Hong Kong in 2013 and now includes employees based in 27 jurisdictions. Movement on HSBC share awards 2019 2018 Number Number (000s) (000s) Conditional share awards outstanding at 1 Jan 94,897 104,525 Additions during the year 71,858 61,569 Released in the year (67,737 ) (67,899 ) Forfeited in the year (1,963 ) (3,298 ) Conditional share awards outstanding at 31 Dec 97,055 94,897 Weighted average fair value of awards granted ($) 7.89 7.66 HSBC share option plans Main plans Policy Savings-related share option plans (‘Sharesave’) • From 2014, employees eligible for the UK plan could save up to £500 per month with the option to use the savings to acquire shares. Calculation of fair values The fair values of share options are calculated using a Black-Scholes model. The fair value of a share award is based on the share price at the date of the grant. Movement on HSBC share option plans Savings-related Number WAEP 1 Footnotes (000s) £ Outstanding at 1 Jan 2019 57,065 4.92 Granted during the year 2 32,130 4.69 Exercised during the year 3 (11,806 ) 4.40 Expired during the year (11,321 ) 5.46 Forfeited during the year (1,008 ) 4.99 Outstanding at 31 Dec 2019 65,060 4.81 Of which exercisable 2,149 4.53 Weighted average remaining contractual life (years) 2.77 Outstanding at 1 Jan 2018 64,670 4.49 Granted during the year 2 20,501 5.45 Exercised during the year 3 (23,260 ) 4.14 Expired during the year (3,148 ) 5.20 Forfeited during the year (1,698 ) 4.53 Outstanding at 31 Dec 2018 57,065 4.92 Of which exercisable 3,513 4.09 Weighted average remaining contractual life (years) 2.59 1 Weighted average exercise price. 2 The weighted average fair value of options granted during the year was $1.36 (2018: $1.40 ). 3 The weighted average share price at the date the options were exercised was $7.99 (2018: $8.28 ). Post-employment benefit plans The Group operates pension plans throughout the world for its employees. ‘Pension risk’ on page 170 contains details of the policies and practices associated with these pension plans. Some are defined benefit plans, of which the largest is the HBUK section of the HSBC Bank (UK) Pension Scheme (‘the principal plan’). The principal plan has changed from being the combined HSBC Bank (UK) Pension Scheme to being only the HBUK section of the scheme. This is because the HSBC Bank (UK) Pension Scheme was fully sectionalised in 2018 to meet the requirements of the Banking Reform Act. HSBC holds on its balance sheet the net surplus or deficit, which is the difference between the fair value of plan assets and the discounted value of scheme liabilities at the balance sheet date for each plan. Surpluses are only recognised to the extent that they are recoverable through reduced contributions in the future or through potential future refunds from the schemes. In assessing whether a surplus is recoverable, HSBC has considered its current right to obtain a future refund or a reduction in future contributions. The principal plan The principal plan has a defined benefit section and a defined contribution section. The defined benefit section was closed to future benefit accrual in 2015, with defined benefits earned by employees at that date continuing to be linked to their salary while they remain employed by HSBC. The plan is overseen by an independent corporate trustee, who has a fiduciary responsibility for the operation of the plan. Its assets are held separately from the assets of the Group. The investment strategy of the plan is to hold the majority of assets in bonds, with the remainder in a diverse range of investments. It also includes some interest rate swaps to reduce interest rate risk and inflation swaps to reduce inflation risk. The latest funding valuation of the plan at 31 December 2016 was carried out by Colin G Singer of Willis Towers Watson Limited, who is a Fellow of the UK Institute and Faculty of Actuaries, using the projected unit credit method. At that date, the market value of the plan’s assets was £28.8b n ( $38.1b n) and this exceeded the value placed on its liabilities on an ongoing basis by £1.4b n ( $1.9b n), giving a funding level of 105% . These figures include defined contribution assets amounting to £2.0b n ( $2.6b n). The main differences between the assumptions used for assessing the defined benefit liabilities for this funding valuation and those used for IAS 19 are more prudent assumptions for discount rate, inflation rate and life expectancy. The next funding valuation will have an effective date of 31 December 2019. Although the plan was in surplus at the valuation date, HSBC continues to make further contributions to the plan to support a lower-risk investment strategy over the longer term. The remaining contributions are £160m ( $212m ) in each of 2020 and 2021.The main employer of the principal plan is HSBC UK Bank plc, with additional support from HSBC Holdings plc. The HSBC Bank (UK) Pension Scheme is fully sectionalised and no entities outside the ring fence participate in the HBUK section of the scheme. The sectionalisation, which took place in 2018, did not materially affect the overall funding position of the plan. The actuary also assessed the value of the liabilities if the plan was to be stopped and an insurance company asked to secure all future pension payments. This is generally larger than the amount needed on the ongoing basis described above because an insurance company would use more prudent assumptions and include an explicit allowance for the future administrative expenses of the plan. Under this approach, the amount of assets needed was estimated to be £37b n ( $49b n) at 31 December 2016. Guaranteed minimum pension equalisation Following a judgment issued by the High Court of Justice of England and Wales in 2018, we estimated the financial effect of equalising benefits in respect of guaranteed minimum pension (‘GMP’) equalisation, and any potential conversion of GMPs into non-GMP benefits, to be an approximate 0.9% increase in the principal plan’s liabilities, or £187m ( $239m ). This was recognised in the income statement in 2018. We continue to assess the impact of GMP equalisation, although no further amounts have been recognised in 2019. Income statement charge 2019 2018 2017 $m $m $m Defined benefit pension plans 176 355 100 Defined contribution pension plans 758 756 603 Pension plans 934 1,111 703 Defined benefit and contribution healthcare plans 15 21 (34 ) Year ended 31 Dec 949 1,132 669 Net assets/(liabilities) recognised on the balance sheet in respect of defined benefit plans Fair value of Present value of defined benefit Effect of Total $m $m $m $m Defined benefit pension plans 47,567 (40,582 ) (16 ) 6,969 Defined benefit healthcare plans 121 (580 ) — (459 ) At 31 Dec 2019 47,688 (41,162 ) (16 ) 6,510 Total employee benefit liabilities (within Note 26 ‘Accruals, deferred income and other liabilities’) (1,771 ) Total employee benefit assets (within Note 22 ‘Prepayments, accrued income and other assets’) 8,280 Defined benefit pension plans 42,799 (36,583 ) (35 ) 6,181 Defined benefit healthcare plans 110 (524 ) — (414 ) At 31 Dec 2018 42,909 (37,107 ) (35 ) 5,767 Total employee benefit liabilities (within Note 26 ‘Accruals, deferred income and other liabilities’) (2,167 ) Total employee benefit assets (within Note 22 ‘Prepayments, accrued income and other assets’) 7,934 HSBC Holdings Employee compensation and benefit expense in respect of HSBC Holdings’ employees in 2019 amounted to $37m (2018: $37m ). The average number of persons employed during 2019 was 60 (2018: 43 ). Employees who are members of defined benefit pension plans are principally members of either the HSBC Bank (UK) Pension Scheme or the HSBC International Staff Retirement Benefits Scheme. HSBC Holdings pays contributions to such plans for its own employees in accordance with the schedules of contributions determined by the trustees of the plans and recognises these contributions as an expense as they fall due. Defined benefit pension plans Net asset/(liability) under defined benefit pension plans Fair value of plan assets Present value of defined benefit obligations Effect of the asset ceiling Net defined benefit asset/(liability) Principal 1 plan Other plans Principal 1 plan Other plans Principal 1 plan Other plans Principal 1 plan Other plans $m $m $m $m $m $m $m $m At 1 Jan 2019 34,074 8,725 (26,616 ) (9,967 ) — (35 ) 7,458 (1,277 ) Service cost — — (64 ) (246 ) — — (64 ) (246 ) – current service cost — — (40 ) (183 ) — — (40 ) (183 ) – past service cost and gains/(losses) from settlements — — (24 ) (63 ) — — (24 ) (63 ) Net interest income/(cost) on the net defined benefit asset/(liability) 939 269 (728 ) (293 ) — — 211 (24 ) Remeasurement effects recognised in other comprehensive income 2,205 867 (2,548 ) (521 ) — 20 (343 ) 366 – return on plan assets (excluding interest income) 2,205 870 — — — — 2,205 870 – actuarial gains/(losses) — — (2,548 ) (1,348 ) — — (2,548 ) (1,348 ) – other changes — (3 ) — 827 — 20 — 844 Exchange differences 1,300 181 (1,036 ) (180 ) — (1 ) 264 — Benefits paid (1,014 ) (620 ) 1,014 694 — — — 74 Other movements 2 370 271 (180 ) 89 — — 190 360 At 31 Dec 2019 37,874 9,693 (30,158 ) (10,424 ) — (16 ) 7,716 (747 ) At 1 Jan 2018 37,747 9,518 (29,552 ) (10,537 ) — (37 ) 8,195 (1,056 ) Service cost — — (293 ) (202 ) — — (293 ) (202 ) – current service cost — — (44 ) (179 ) — — (44 ) (179 ) – past service cost and losses from settlements — — (249 ) (23 ) — — (249 ) (23 ) Net interest income/(cost) on the net defined benefit asset/(liability) 955 235 (743 ) (265 ) — (1 ) 212 (31 ) Remeasurement effects recognised in other comprehensive income (1,478 ) (591 ) 1,153 440 — — (325 ) (151 ) – return on plan assets (excluding interest income) (1,478 ) (591 ) — — — — (1,478 ) (591 ) – actuarial gains — — 1,153 403 — — 1,153 403 – other changes — — — 37 — — — 37 Exchange differences (2,002 ) (187 ) 1,565 122 — 3 (437 ) (62 ) Benefits paid (1,132 ) (544 ) 1,132 550 — — — 6 Other movements 2 (16 ) 294 122 (75 ) — — 106 219 At 31 Dec 2018 34,074 8,725 (26,616 ) (9,967 ) — (35 ) 7,458 (1,277 ) 1 Refer to page 286 for details on the principal plan. 2 Other movements include contributions by HSBC, contributions by employees, administrative costs and taxes paid by plan. HSBC expects to make $384 m of contributions to defined benefit pension plans during 2020. Benefits expected to be paid from the plans to retirees over each of the next five years, and in aggregate for the five years thereafter, are as follows: Benefits expected to be paid from plans 2020 2021 2022 2023 2024 2025-2029 $m $m $m $m $m $m The principal plan 1,2 1,081 1,113 1,145 1,178 1,212 6,611 Other plans 1 471 525 521 486 479 2,332 1 The duration of the defined benefit obligation is 18.1 years for the principal plan under the disclosure assumptions adopted (2018: 17.0 years) and 13.2 years for all other plans combined (2018: 12.3 years). 2 Refer to page 286 for details on the principal plan. Fair value of plan assets by asset classes 31 Dec 2019 31 Dec 2018 Value Quoted No quoted Thereof 1 Value Quoted No quoted Thereof 1 $m $m $m $m $m $m $m $m The principal plan 2 Fair value of plan assets 37,874 33,921 3,953 — 34,074 30,670 3,404 — – equities 662 312 350 — 3,152 3,152 — — – bonds 31,699 31,699 — — 26,509 26,509 — — – derivatives 2,052 — 2,052 — 2,030 — 2,030 — – other 3,461 1,910 1,551 — 2,383 1,009 1,374 — Other plans Fair value of plan assets 9,693 8,702 991 1,422 8,725 7,425 1,300 1,216 – equities 2,065 1,455 610 2 2,186 1,265 921 2 – bonds 6,608 6,376 232 8 5,707 5,559 148 7 – derivatives — — — 1,183 37 — 37 1,034 – other 1,020 871 149 229 795 601 194 173 1 The fair value of plan assets includes derivatives entered into with HSBC Bank plc as detailed in Note 35 . 2 Refer to page 286 for details on the principal plan. Post-employment defined benefit plans’ principal actuarial financial assumptions HSBC determines the discount rates to be applied to its obligations in consultation with the plans’ local actuaries, on the basis of current average yields of high-quality (AA-rated or equivalent) debt instruments with maturities consistent with those of the defined benefit obligations. Key actuarial assumptions for the principal plan 1 Discount rate Inflation rate Rate of increase for pensions Rate of pay increase % % % % UK At 31 Dec 2019 2.00 3.10 2.90 3.65 At 31 Dec 2018 2.80 3.40 3.10 3.65 1 Refer to page 286 for details on the principal plan. Mortality tables and average life expectancy at age 60 4 for the principal plan 3 Mortality table Life expectancy at age 60 4 for a male member currently: Life expectancy at age 60 4 for a female member currently: Aged 60 Aged 40 Aged 60 Aged 40 UK At 31 Dec 2019 SAPS S2 1 28.0 29.4 28.2 29.8 At 31 Dec 2018 SAPS S2 2 28.1 29.6 28.4 30.0 1 Self-administered pension scheme (‘SAPS’) S2 table (males: 'Normal health pensioners' version; females: 'All pensioners' version) with a multiplier of 0.94 for male and 1.15 for female pensioners. Improvements are projected in accordance with the continual mortality investigation (‘CMI’) 2018 core projection model with an initial addition to improvements of 0.25% per annum and a long-term rate of improvement of 1.25% per annum. Separate tables have been applied to lower-paid pensioners and dependant members. 2 Self-administered pension scheme (‘SAPS’) S2 table (males: 'Normal health pensioners' version; females: 'All pensioners' version) with a multiplier of 0.94 for male and 1.15 for female pensioners. Improvements are projected in accordance with the continual mortality investigation (‘CMI’) 2017 core projection model with a long-term rate of improvement of 1.25% per annum. Separate tables have been applied to lower-paid pensioners and dependant members. 3 Refer to page 286 for details on the principal plan. 4 The presentation of the mortality table has been updated to show life expectancies at the age of 60 rather than 65 as presented in prior years to better reflect market disclosure practices. The prior year data have been updated accordingly. The effect of changes in key assumptions on the principal plan 1 Impact on HBUK section of the HSBC Bank (UK) Pension Scheme obligation Financial impact of increase Financial impact of decrease 2019 2018 2019 2018 $m $m $m $m Discount rate – increase/decrease of 0.25% (1,305 ) (1,078 ) 1,395 1,149 Inflation rate – increase/decrease of 0.25% 781 726 (738 ) (716 ) Pension payments and deferred pensions – increase/decrease of 0.25% 1,100 1,181 (1,026 ) (1,112 ) Pay – increase/decrease of 0.25% 73 28 (72 ) (29 ) Change in mortality – increase of 1 year 1,267 995 N/A N/A 1 Refer to page 286 for details on the principal plan. Directors’ emoluments Details of Directors’ emoluments, pensions and their interests are disclosed in the Directors’ remuneration report on page 220 . |
Auditor's remuneration
Auditor's remuneration | 12 Months Ended |
Dec. 31, 2019 | |
Additional information [abstract] | |
Auditor's remuneration | 6 Auditor’s remuneration 2019 2018 2017 $m $m $m Audit fees payable to PwC 85.2 86.6 84.8 Other audit fees payable 0.9 0.9 1.2 Year ended 31 Dec 86.1 87.5 86.0 Fees payable by HSBC to PwC 2019 2018 2017 Footnotes $m $m $m Fees for HSBC Holdings’ statutory audit 1 15.7 16.4 15.1 Fees for other services provided to HSBC 95.0 103.1 114.6 – audit of HSBC’s subsidiaries 69.5 70.2 69.7 – audit-related assurance services 2 10.0 11.4 10.8 – other assurance services 3 12.2 13.5 25.2 – taxation compliance services 1.6 1.4 1.2 – taxation advisory services — 0.1 — – other non-audit services 3 1.7 6.5 7.7 Year ended 31 Dec 110.7 119.5 129.7 1 Fees payable to PwC for the statutory audit of the consolidated financial statements of HSBC and the separate financial statements of HSBC Holdings. They include amounts payable for services relating to the consolidation returns of HSBC Holdings’ subsidiaries, which are clearly identifiable as being in support of the Group audit opinion. 2 Including services for assurance and other services that relate to statutory and regulatory filings, including comfort letters and interim reviews. 3 Including permitted services relating to a ttestation reports on internal controls of a service organisation primarily prepared for and used by third party end user. No fees were payable by HSBC to PwC as principal auditor for the following types of services: internal audit services and services related to litigation, recruitment and remuneration. Fees payable by HSBC’s associated pension schemes to PwC 2019 2018 2017 $000 $000 $000 Audit of HSBC’s associated pension schemes 250 172 260 Audit-related assurance services — — 4 Year ended 31 Dec 250 172 264 No fees were payable by HSBC’s associated pension schemes to PwC as principal auditor for the following types of services: internal audit services, other assurance services, services related to corporate finance transactions, valuation and actuarial services, litigation, recruitment and remuneration, and information technology. In addition to the above, the estimated fees paid to PwC by third parties associated with HSBC amount to $17.2m (2018: $14.0m ; 2017: $3.5m ). In these cases, HSBC is connected with the contracting party and may therefore be involved in appointing PwC. These fees arise from services such as auditing mutual funds managed by HSBC and reviewing the financial position of corporate concerns that borrow from HSBC. Fees payable for non-audit services for HSBC Holdings are not disclosed separately because such fees are disclosed on a consolidated basis for the HSBC Group. |
Tax
Tax | 12 Months Ended |
Dec. 31, 2019 | |
Income Taxes [Abstract] | |
Tax | 7 Tax Tax expense 2019 2018 2017 Footnotes $m $m $m Current tax 1 3,768 4,195 4,264 – for this year 3,689 4,158 4,115 – adjustments in respect of prior years 79 37 149 Deferred tax 871 670 1,024 – origination and reversal of temporary differences 684 656 (228 ) – effect of changes in tax rates (11 ) 17 1,337 – adjustments in respect of prior years 198 (3 ) (85 ) Year ended 31 Dec 2 4,639 4,865 5,288 1 Current tax included Hong Kong profits tax of $1,413m (2018: $1,532m ; 2017: $1,350m ). The Hong Kong tax rate applying to the profits of subsidiaries assessable in Hong Kong was 16.5% (2018: 16.5% ; 2017: 16.5% ). 2 In addition to amounts recorded in the income statement, a tax charge of $6m (2018: credit of $234m ) was recorded directly to equity . Tax reconciliation The tax charged to the income statement differs from the tax charge that would apply if all profits had been taxed at the UK corporation tax rate as follows: 2019 2018 2017 $m % $m % $m % Profit before tax 13,347 19,890 17,167 Tax expense Taxation at UK corporation tax rate of 19.00% (2018: 19.00%; 2017: 19.25%) 2,536 19.0 3,779 19.0 3,305 19.25 Impact of differently taxed overseas profits in overseas locations 253 1.9 264 1.3 407 2.3 Items increasing tax charge in 2019: – non-deductible goodwill write-down 1,421 10.7 — — — — – local taxes and overseas withholding taxes 484 3.6 437 2.2 618 3.6 – other permanent disallowables 481 3.6 396 2.0 400 2.3 – non-deductible UK customer compensation 382 2.9 16 0.1 166 1.0 – UK tax losses not recognised 364 2.7 435 2.2 70 0.4 – adjustments in respect of prior period liabilities 277 2.1 34 0.2 64 0.4 – bank levy 184 1.4 191 1.0 180 1.0 – impacts of hyperinflation 29 0.2 78 0.4 — — – UK banking surcharge 29 0.2 229 1.1 136 0.8 – non-UK movements in unrecognised deferred tax 12 0.1 32 0.2 (16 ) (0.1 ) – non-deductible regulatory settlements 5 — 153 0.8 (132 ) (0.8 ) – deferred tax remeasurement due to US federal tax rate reduction — — — — 1,288 7.5 Items reducing tax charge in 2019: – non-taxable income and gains (844 ) (6.3 ) (691 ) (3.5 ) (766 ) (4.4 ) – effect of profits in associates and joint ventures (467 ) (3.5 ) (492 ) (2.5 ) (481 ) (2.8 ) – deductions for AT1 coupon payments (263 ) (2.0 ) — — — — – non-taxable gain on dilution of shareholding in SABB (181 ) (1.3 ) — — — — – impact of changes in tax rates (11 ) (0.1 ) 17 0.1 49 0.3 – other items (52 ) (0.4 ) (13 ) (0.1 ) — — Year ended 31 Dec 4,639 34.8 4,865 24.5 5,288 30.8 The Group’s profits are taxed at different rates depending on the country or territory in which the profits arise. The key applicable tax rates for 2019 include Hong Kong ( 16.5% ), the US ( 21% ) and the UK ( 19% ). If the Group’s profits were taxed at the statutory rates of the countries in which the profits arose, then the tax rate for the year would have been 20.90% (2018: 20.30% ). The effective tax rate for the year was 34.8% (2018: 24.5% ). The effective tax rate for 2019 was significantly higher than for 2018 as 2019 included a non-deductible impairment of goodwill of $7.3bn . Following an amendment to IAS 12 effective 1 January 2019, the income tax consequences of distributions, including AT1 coupon payments, are recorded in the income statement tax expense. Prior periods have not been restated. Accounting for taxes involves some estimation because the tax law is uncertain and its application requires a degree of judgement, which authorities may dispute. Liabilities are recognised based on best estimates of the probable outcome, taking into account external advice where appropriate. We do not expect significant liabilities to arise in excess of the amounts provided. HSBC only recognises current and deferred tax assets where recovery is probable. Movement of deferred tax assets and liabilities Loan Unused tax Derivatives, FVOD 1 and other Insurance Expense Fixed assets Retirement obligations Other Total Footnotes $m $m $m $m $m $m $m $m $m Assets 982 1,156 492 — 629 1,151 — 738 5,148 Liabilities — — (376 ) (1,271 ) — — (1,387 ) (283 ) (3,317 ) At 1 Jan 2019 982 1,156 116 (1,271 ) 629 1,151 (1,387 ) 455 1,831 Income statement 45 266 (386 ) (303 ) (18 ) (185 ) (149 ) (141 ) (871 ) Other comprehensive income — — 544 — — — 30 (391 ) 183 Equity — — — — — — — — — Foreign exchange and other adjustments (44 ) (8 ) 147 (47 ) 39 36 (107 ) 98 114 At 31 Dec 2019 983 1,414 421 (1,621 ) 650 1,002 (1,613 ) 21 1,257 Assets 2 983 1,414 979 — 650 1,002 — 422 5,450 Liabilities 2 — — (558 ) (1,621 ) — — (1,613 ) (401 ) (4,193 ) Assets 713 1,373 1,282 — 643 1,201 352 760 6,324 Liabilities — — (93 ) (1,182 ) — — (1,387 ) (968 ) (3,630 ) At 1 Jan 2018 713 1,373 1,189 (1,182 ) 643 1,201 (1,035 ) (208 ) 2,694 IFRS 9 transitional adjustment 358 — (411 ) — — — — 459 406 Income statement (72 ) (203 ) 51 (104 ) 19 (68 ) 35 (328 ) (670 ) Other comprehensive income — — (722 ) — — — 25 165 (532 ) Equity — — — — — — (15 ) (8 ) (23 ) Foreign exchange and other adjustments (17 ) (14 ) 9 15 (33 ) 18 (397 ) 375 (44 ) At 31 Dec 2018 982 1,156 116 (1,271 ) 629 1,151 (1,387 ) 455 1,831 Assets 2 982 1,156 492 — 629 1,151 — 738 5,148 Liabilities 2 — — (376 ) (1,271 ) — — (1,387 ) (283 ) (3,317 ) 1 Fair value of own debt. 2 After netting off balances within countries, the balances as disclosed in the accounts are as follows: deferred tax assets $4,632m (2018: $4,450m ) and deferred tax liabilities $3,375m (2018: $2,619m ). In applying judgement in recognising deferred tax assets, management has critically assessed all available information, including future business profit projections and the track record of meeting forecasts. The net deferred tax asset of $1.3b n (2018: $1.8b n) includes $2.8b n (2018: $3.0b n) of deferred tax assets relating to the US, of which $1.1b n relates to US tax losses that expire in 14 to 18 years. Management expects the US deferred tax asset to be substantially recovered in six to seven years, with the majority recovered in the first five years. The most recent financial forecasts approved by management cover a five -year period and the forecasts have been extrapolated beyond five years by assuming that performance remains constant after the fifth year. Unrecognised deferred tax The amount of gross temporary differences, unused tax losses and tax credits for which no deferred tax asset is recognised in the balance sheet was $8.3b n (2018: $7.2b n). This amount includes unused UK corporation tax losses of $6.2b n (2018: $4.6b n) which are not recognised due to uncertainty regarding the availability of sufficient future taxable profits against which to recover them . Of the total amounts unrecognised, $6.4b n (2018: $4.7b n) had no expiry date, $1.3b n (2018: $1.3b n) was scheduled to expire within 10 years and the remaining balance is expected to expire after 10 years . Deferred tax is not recognised in respect of the Group’s investments in subsidiaries and branches where HSBC is able to control the timing of remittance or other realisation and where remittance or realisation is not probable in the foreseeable future. The aggregate temporary differences relating to unrecognised deferred tax liabilities arising on investments in subsidiaries and branches is $13.4b n (2018: $13.2b n) and the corresponding unrecognised deferred tax liability is $1.0b n (2018: $0.9b n). |
Dividends
Dividends | 12 Months Ended |
Dec. 31, 2019 | |
Interim Financial Reporting [Abstract] | |
Dividends | 8 Dividends Dividends to shareholders of the parent company 2019 2018 2017 Per Total Settled Per Total Settled Per Total Settled $ $m $m $ $m $m $ $m $m Dividends paid on ordinary shares In respect of previous year: – fourth interim dividend 0.21 4,206 1,160 0.21 4,197 393 0.21 4,169 1,945 In respect of current year: – first interim dividend 0.10 2,013 375 0.10 2,008 213 0.10 2,005 826 – second interim dividend 0.10 2,021 795 0.10 1,990 181 0.10 2,014 193 – third interim dividend 0.10 2,029 357 0.10 1,992 707 0.10 2,005 242 Total 0.51 10,269 2,687 0.51 10,187 1,494 0.51 10,193 3,206 Total dividends on preference shares classified as equity (paid quarterly) 62.00 90 62.00 90 62.00 90 Total coupons on capital securities classified as equity 1,324 1,270 1,268 Dividends to shareholders 11,683 11,547 11,551 Total coupons on capital securities classified as equity 2019 2018 2017 Total Total Total Footnotes First call date Per security $m $m $m Perpetual subordinated capital securities 1, 3 $2,200m issued at 8.125% Apr 2013 $0.000 — 89 179 $3,800m issued at 8.000% Dec 2015 $0.000 — 76 304 Perpetual subordinated contingent convertible securities 2, 3 $1,500m issued at 5.625% 4 Nov 2019 $56.250 84 84 84 $2,000m issued at 6.875% Jun 2021 $68.750 138 138 138 $2,250m issued at 6.375% Sep 2024 $63.750 143 143 143 $2,450m issued at 6.375% Mar 2025 $63.750 156 156 156 $3,000m issued at 6.000% May 2027 $60.000 180 180 90 $2,350m issued at 6.250% Mar 2023 $62.500 147 73 — $1,800m issued at 6.500% Mar 2028 $65.000 117 59 — €1,500m issued at 5.250% Sep 2022 €52.500 88 95 89 €1,000m issued at 6.000% Sep 2023 €60.000 66 72 68 €1,250m issued at 4.750% July 2029 €47.500 68 70 — SGD1,000m issued at 4.700% Jun 2022 SGD47.000 34 35 17 £1,000m issued at 5.875% Sep 2026 £58.750 75 — — SGD750m issued at 5% Sep 2023 SGD50.000 28 — — Total 1,324 1,270 1,268 1 Discretionary coupons are paid quarterly on the perpetual subordinated capital securities, in denominations of $25 per security. 2 Discretionary coupons are paid semi-annually on the perpetual subordinated contingent convertible securities, in denominations of each security’s issuance currency 1,000 per security. 3 Further details of these securities can be found in Note 31 . 4 This security was called by HSBC Holdings on 22 November 2019 and was redeemed and cancelled on 17 January 2020. Between the date of exercise of the call option and the redemption, this security was considered to be a subordinated liability. Refer to Note 31 for further details on additional tier 1 securities. After the end of the year, the Directors declared a fourth interim dividend in respect of the financial year ended 31 December 2019 of $0.21 per ordinary share, a distribution of approximately $4,266 m. The fourth interim dividend will be payable on 14 April 2020 to holders on the Principal Register in the UK, the Hong Kong Overseas Branch Register or the Bermuda Overseas Branch Register on 28 February 2020. No liability was recorded in the financial statements in respect of the fourth interim dividend for 2019. On 6 January 2020, HSBC paid a coupon on its €1,250m subordinated capital securities, representing a total distribution of €30m ( $33m ) . No liability was recorded in the balance sheet at 31 December 2019 in respect of this coupon payment. |
Earnings per share
Earnings per share | 12 Months Ended |
Dec. 31, 2019 | |
Earnings per share [abstract] | |
Earning per share | 9 Earnings per share Basic earnings per ordinary share is calculated by dividing the profit attributable to ordinary shareholders of the parent company by the weighted average number of ordinary shares outstanding, excluding own shares held. Diluted earnings per ordinary share is calculated by dividing the basic earnings, which require no adjustment for the effects of dilutive potential ordinary shares, by the weighted average number of ordinary shares outstanding, excluding own shares held, plus the weighted average number of ordinary shares that would be issued on conversion of dilutive potential ordinary shares. Profit attributable to the ordinary shareholders of the parent company 2019 2018 2017 $m $m $m Profit attributable to shareholders of the parent company 7,383 13,727 10,798 Dividend payable on preference shares classified as equity (90 ) (90 ) (90 ) Coupon payable on capital securities classified as equity (1,324 ) (1,029 ) (1,025 ) Year ended 31 Dec 5,969 12,608 9,683 Basic and diluted earnings per share 2019 2018 2017 Profit Number Per Profit Number Per Profit Number Per Footnotes $m (millions) $ $m (millions) $ $m (millions) $ Basic 1 5,969 20,158 0.30 12,608 19,896 0.63 9,683 19,972 0.48 Effect of dilutive potential ordinary shares 75 87 100 Diluted 1 5,969 20,233 0.30 12,608 19,983 0.63 9,683 20,072 0.48 1 Weighted average number of ordinary shares outstanding (basic) or assuming dilution (diluted). The number of anti-dilutive employee share options excluded from the weighted average number of dilutive potential ordinary shares is 1.1m (2018: nil ; 2017: nil ). |
Segmental analysis
Segmental analysis | 12 Months Ended |
Dec. 31, 2019 | |
Operating Segments [Abstract] | |
Segmental analysis | 10 Segmental analysis The Group Chief Executive, supported by the rest of the GMB, is considered the Chief Operating Decision Maker (‘CODM’) for the purposes of identifying the Group’s reportable segments. Global business results are assessed by the CODM on the basis of adjusted performance that removes the effects of significant items and currency translation from reported results. We therefore present these results on an adjusted basis as required by IFRSs. The 2018 and 2017 adjusted performance information is presented on a constant currency basis. The 2018 and 2017 income statements are converted at the average rates of exchange for 2019, and the balance sheets at 31 December 2018 and 31 December 2017 at the prevailing rates of exchange on 31 December 2019. Our operations are closely integrated and, accordingly, the presentation of data includes internal allocations of certain items of income and expense. These allocations include the costs of certain support services and global functions to the extent that they can be meaningfully attributed to global businesses. While such allocations have been made on a systematic and consistent basis, they necessarily involve a degree of subjectivity. Costs that are not allocated to global businesses are included in Corporate Centre. Where relevant, income and expense amounts presented include the results of inter-segment funding along with inter-company and inter-business line transactions. All such transactions are undertaken on arm’s length terms. The intra-Group elimination items for the global businesses are presented in Corporate Centre. Our global businesses HSBC provides a comprehensive range of banking and related financial services to its customers in its four global businesses. The products and services offered to customers are organised by these global businesses. • RBWM offers a broad range of products and services to meet the personal banking and wealth management needs of individual customers. Typically, customer offerings include personal banking products, such as current and savings accounts, mortgages and personal loans, credit cards, debit cards and local and international payment services, as well as wealth management services, including insurance and investment products, global asset management services and financial planning services. • CMB offers a broad range of products and services to serve the needs of our commercial customers, including small and medium-sized enterprises, mid-market enterprises and corporates. These include credit and lending, international trade and receivables finance, treasury management and liquidity solutions (payments and cash management and commercial cards), commercial insurance and investments. CMB also offers its customers access to products and services offered by other global businesses, such as GB&M, which include foreign exchange products, raising capital on debt and equity markets and advisory services. • GB&M provides tailored financial solutions to major government, corporate and institutional clients and private investors worldwide. The client-focused business lines deliver a full range of banking capabilities including financing, advisory and transaction services, a markets business that provides services in credit, rates, foreign exchange, equities, money markets and securities services, and principal investment activities. • GPB provides a range of services to high net worth individuals and families with complex and international needs within the Group’s major markets. HSBC adjusted profit before tax and balance sheet data 2019 Retail Commercial Global Global Corporate Centre Total Footnotes $m $m $m $m $m $m Net operating income/(expense) before change in expected credit losses and other credit impairment charges 1 23,400 15,292 14,916 1,848 (47 ) 55,409 – external 17,026 14,805 18,517 1,445 3,616 55,409 – inter-segment 6,374 487 (3,601 ) 403 (3,663 ) — of which: net interest income/(expense) 16,525 11,226 5,601 879 (3,612 ) 30,619 Change in expected credit losses and other credit impairment charges (1,390 ) (1,184 ) (153 ) (22 ) (7 ) (2,756 ) Net operating income/(expense) 22,010 14,108 14,763 1,826 (54 ) 52,653 Total operating expenses (14,017 ) (6,801 ) (9,417 ) (1,424 ) (1,136 ) (32,795 ) Operating profit/(loss) 7,993 7,307 5,346 402 (1,190 ) 19,858 Share of profit in associates and joint ventures 55 — — — 2,299 2,354 Adjusted profit before tax 8,048 7,307 5,346 402 1,109 22,212 % % % % % % Share of HSBC’s adjusted profit before tax 36.2 32.9 24.1 1.8 5.0 100.0 Adjusted cost efficiency ratio 59.9 44.5 63.1 77.1 (2,417.0 ) 59.2 Adjusted balance sheet data $m $m $m $m $m $m Loans and advances to customers (net) 395,393 346,060 246,266 47,593 1,431 1,036,743 Interests in associates and joint ventures 449 — — — 24,025 24,474 Total external assets 526,621 367,509 1,066,584 52,224 702,214 2,715,152 Customer accounts 689,283 386,522 292,284 62,943 8,083 1,439,115 HSBC adjusted profit before tax and balance sheet data (continued) 2018 Retail Commercial Global Global Corporate Centre Total Footnotes $m $m $m $m $m $m Net operating income/(expense) before change in expected credit losses and other credit impairment charges 1 21,374 14,465 15,025 1,757 (290 ) 52,331 – external 16,794 14,226 17,554 1,474 2,283 52,331 – inter-segment 4,580 239 (2,529 ) 283 (2,573 ) — of which: net interest income/(expense) 15,432 10,380 5,122 873 (2,189 ) 29,618 Change in expected credit losses and other credit impairment (charges)/recoveries (1,134 ) (712 ) 31 7 119 (1,689 ) Net operating income/(expense) 20,240 13,753 15,056 1,764 (171 ) 50,642 Total operating expenses (13,255 ) (6,275 ) (9,170 ) (1,425 ) (1,781 ) (31,906 ) Operating profit/(loss) 6,985 7,478 5,886 339 (1,952 ) 18,736 Share of profit in associates and joint ventures 33 — — — 2,413 2,446 Adjusted profit before tax 7,018 7,478 5,886 339 461 21,182 % % % % % % Share of HSBC’s adjusted profit before tax 33.1 35.3 27.8 1.6 2.2 100.0 Adjusted cost efficiency ratio 62.0 43.4 61.0 81.1 (614.1 ) 61.0 Adjusted balance sheet data $m $m $m $m $m $m Loans and advances to customers (net) 367,917 337,099 247,125 39,602 2,533 994,276 Interests in associates and joint ventures 398 — — — 21,903 22,301 Total external assets 482,967 364,638 1,025,737 45,520 670,333 2,589,195 Customer accounts 649,172 362,274 294,584 65,053 8,655 1,379,738 2017 Retail Commercial Global Global Corporate Centre Total Footnotes $m $m $m $m $m $m Net operating income before loan impairment charges and other credit risk provisions 1 19,708 12,883 14,823 1,698 1,061 50,173 – external 16,582 13,009 16,086 1,433 3,063 50,173 – inter-segment 3,126 (126 ) (1,263 ) 265 (2,002 ) — of which: net interest income/(expense) 13,573 8,822 4,746 812 (499 ) 27,454 Loan impairment charges and other credit risk provisions/(recoveries) (941 ) (468 ) (439 ) (17 ) 179 (1,686 ) Net operating income 18,767 12,415 14,384 1,681 1,240 48,487 Total operating expenses (12,386 ) (5,770 ) (8,709 ) (1,384 ) (2,010 ) (30,259 ) Operating profit/(loss) 6,381 6,645 5,675 297 (770 ) 18,228 Share of profit in associates and joint ventures 12 — — — 2,316 2,328 Adjusted profit before tax 6,393 6,645 5,675 297 1,546 20,556 % % % % % % Share of HSBC’s adjusted profit before tax 31.1 32.3 27.6 1.4 7.6 100.0 Adjusted cost efficiency ratio 62.8 44.8 58.8 81.5 189.4 60.3 Adjusted balance sheet data $m $m $m $m $m $m Loans and advances to customers (net) 337,768 308,870 246,890 40,013 7,382 940,923 Interests in associates and joint ventures 364 — — — 21,558 21,922 Total external assets 457,126 340,211 960,732 46,706 667,822 2,472,597 Customer accounts 629,442 356,488 276,634 65,491 11,017 1,339,072 1 Net operating income before change in expected credit losses and other credit impairment charges/Loan impairment charges and other credit risk provisions, also referred to as revenue. Reported external net operating income is attributed to countries and territories on the basis of the location of the branch responsible for reporting the results or advancing the funds: 2019 2018 2017 Footnotes $m $m $m Reported external net operating income by country/territory 1 56,098 53,780 51,445 – UK 9,011 10,340 11,057 – Hong Kong 18,449 17,162 14,992 – US 4,471 4,379 4,573 – France 1,942 1,898 2,203 – other countries 22,225 20,001 18,620 1 Net operating income before change in expected credit losses and other credit impairment charges/Loan impairment charges and other credit risk provisions, also referred to as revenue. Adjusted results reconciliation 2019 2018 2017 Adjusted Significant items Reported Adjusted Currency translation Significant items Reported Adjusted Currency translation Significant items Reported Footnotes $m $m $m $m $m $m $m $m $m $m $m Revenue 1 55,409 689 56,098 52,331 1,617 (168 ) 53,780 50,173 1,344 (72 ) 51,445 ECL (2,756 ) — (2,756 ) (1,689 ) (78 ) — (1,767 ) N/A N/A N/A N/A LICs N/A N/A N/A N/A N/A N/A N/A (1,686 ) (83 ) — (1,769 ) Operating expenses (32,795 ) (9,554 ) (42,349 ) (31,906 ) (1,109 ) (1,644 ) (34,659 ) (30,259 ) (915 ) (3,710 ) (34,884 ) Share of profit in associates and joint ventures 2,354 — 2,354 2,446 90 — 2,536 2,328 47 — 2,375 Profit/(loss) before tax 22,212 (8,865 ) 13,347 21,182 520 (1,812 ) 19,890 20,556 393 (3,782 ) 17,167 1 Net operating income before change in expected credit losses and other credit impairment charges/Loan impairment charges and other credit risk provisions, also referred to as revenue. Adjusted balance sheet reconciliation 2019 2018 2017 Reported and adjusted Adjusted Currency translation Reported Adjusted Currency translation Reported $m $m $m $m $m $m $m Loans and advances to customers (net) 1,036,743 994,276 (12,580 ) 981,696 940,923 22,041 962,964 Interests in associates and joint ventures 24,474 22,301 106 22,407 21,922 822 22,744 Total external assets 2,715,152 2,589,195 (31,071 ) 2,558,124 2,472,597 49,174 2,521,771 Customer accounts 1,439,115 1,379,738 (17,095 ) 1,362,643 1,339,072 25,390 1,364,462 Adjusted profit reconciliation 2019 2018 2017 Footnotes $m $m $m Year ended 31 Dec Adjusted profit before tax 22,212 21,182 20,556 Significant items (8,865 ) (1,812 ) (3,782 ) – customer redress programmes (revenue) (163 ) 53 (108 ) – disposals, acquisitions and investment in new businesses (revenue) 768 (113 ) 274 – fair value movements on financial instruments 1 84 (100 ) (245 ) – costs of structural reform 2 (158 ) (361 ) (420 ) – costs to achieve — — (3,002 ) – customer redress programmes (operating expenses) (1,281 ) (146 ) (655 ) – disposals, acquisitions and investment in new businesses (operating expenses) — (52 ) (53 ) – gain on partial settlement of pension obligation — — 188 – goodwill impairment (7,349 ) — — – past service costs of guaranteed minimum pension benefits equalisation — (228 ) — – restructuring and other related costs (827 ) (66 ) — – settlements and provisions in connection with legal and other regulatory matters 61 (816 ) 198 – currency translation on significant items 17 41 Currency translation 520 393 Reported profit before tax 13,347 19,890 17,167 1 Fair value movements on financial instruments include non-qualifying hedges and debt value adjustments on derivatives. 2 Comprises costs associated with preparations for the UK’s exit from the European Union, costs to establish the UK ring-fenced bank (including the UK ServCo group) and costs associated with establishing an intermediate holding company in Hong Kong . |
Trading assets
Trading assets | 12 Months Ended |
Dec. 31, 2019 | |
Financial Instruments [Abstract] | |
Trading assets | 11 Trading assets 2019 2018 Footnotes $m $m Treasury and other eligible bills 21,789 22,674 Debt securities 126,043 130,539 Equity securities 78,827 60,896 Trading securities 226,659 214,109 Loans and advances to banks 1 8,402 10,425 Loans and advances to customers 1 19,210 13,596 Year ended 31 Dec 254,271 238,130 1 Loans and advances to banks and customers include reverse repos, stock borrowing and other accounts. Trading securities 1 2019 2018 Footnotes $m $m US Treasury and US Government agencies 2 25,722 34,664 UK Government 10,040 9,710 Hong Kong Government 9,783 10,772 Other governments 72,456 66,530 Asset-backed securities 3 4,691 3,351 Corporate debt and other securities 25,140 28,186 Equity securities 78,827 60,896 At 31 Dec 226,659 214,109 1 Included within these figures are debt securities issued by banks and other financial institutions of $17,846m (2018: $18,918m ), of which $2,637m (2018: $2,367m ) are guaranteed by various governments. 2 Includes securities that are supported by an explicit guarantee issued by the US Government. 3 Excludes asset-backed securities included under US Treasury and US Government agencies. |
Fair values of financial instru
Fair values of financial instruments carried at fair value | 12 Months Ended |
Dec. 31, 2019 | |
Fair Value Measurement [Abstract] | |
Fair values of financial instruments carried at fair value | 12 Fair values of financial instruments carried at fair value Control framework Fair values are subject to a control framework designed to ensure that they are either determined or validated by a function independent of the risk taker. Where fair values are determined by reference to externally quoted prices or observable pricing inputs to models, independent price determination or validation is used. For inactive markets, HSBC sources alternative market information, with greater weight given to information that is considered to be more relevant and reliable. Examples of the factors considered are price observability, instrument comparability, consistency of data sources, underlying data accuracy and timing of prices. For fair values determined using valuation models, the control framework includes development or validation by independent support functions of the model logic, inputs, model outputs and adjustments. Valuation models are subject to a process of due diligence before becoming operational and are calibrated against external market data on an ongoing basis. Changes in fair value are generally subject to a profit and loss analysis process and are disaggregated into high-level categories including portfolio changes, market movements and other fair value adjustments. The majority of financial instruments measured at fair value are in GB&M. GB&M’s fair value governance structure comprises its Finance function, Valuation Committees and a Valuation Committee Review Group. Finance is responsible for establishing procedures governing valuation and ensuring fair values are in compliance with accounting standards. The fair values are reviewed by the Valuation Committees, which consist of independent support functions. These committees are overseen by the Valuation Committee Review Group, which considers all material subjective valuations. Financial liabilities measured at fair value In certain circumstances, HSBC records its own debt in issue at fair value, based on quoted prices in an active market for the specific instrument. When quoted market prices are unavailable, the own debt in issue is valued using valuation techniques, the inputs for which are either based on quoted prices in an inactive market for the instrument or are estimated by comparison with quoted prices in an active market for similar instruments. In both cases, the fair value includes the effect of applying the credit spread that is appropriate to HSBC’s liabilities. The change in fair value of issued debt securities attributable to the Group’s own credit spread is computed as follows: for each security at each reporting date, an externally verifiable price is obtained or a price is derived using credit spreads for similar securities for the same issuer. Then, using discounted cash flow, each security is valued using a Libor-based discount curve. The difference in the valuations is attributable to the Group’s own credit spread. This methodology is applied consistently across all securities. Structured notes issued and certain other hybrid instruments are included within trading liabilities and are measured at fair value. The credit spread applied to these instruments is derived from the spreads at which HSBC issues structured notes. Gains and losses arising from changes in the credit spread of liabilities issued by HSBC, recorded in other comprehensive income, reverse over the contractual life of the debt, provided that the debt is not repaid at a premium or a discount. Fair value hierarchy Fair values of financial assets and liabilities are determined according to the following hierarchy: • Level 1 – valuation technique using quoted market price. These are financial instruments with quoted prices for identical instruments in active markets that HSBC can access at the measurement date. • Level 2 – valuation technique using observable inputs. These are financial instruments with quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in inactive markets and financial instruments valued using models where all significant inputs are observable. • Level 3 – valuation technique with significant unobservable inputs. These are financial instruments valued using valuation techniques where one or more significant inputs are unobservable. Financial instruments carried at fair value and bases of valuation 2019 2018 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total $m $m $m $m $m $m $m $m Recurring fair value measurements Assets Trading assets 186,653 62,639 4,979 254,271 178,100 53,271 6,759 238,130 Financial assets designated and otherwise mandatorily measured at fair value through profit or loss 26,505 9,373 7,749 43,627 23,125 12,494 5,492 41,111 Derivatives 1,728 239,131 2,136 242,995 1,868 203,534 2,423 207,825 Financial investments 271,467 84,087 2,023 357,577 263,885 78,882 2,000 344,767 Liabilities Trading liabilities 66,925 16,192 53 83,170 66,300 18,073 58 84,431 Financial liabilities designated at fair value 9,549 149,901 5,016 164,466 6,815 136,362 5,328 148,505 Derivatives 1,331 235,864 2,302 239,497 2,845 201,234 1,756 205,835 Transfers between Level 1 and Level 2 fair values Assets Liabilities Financial investments Trading assets Designated Derivatives Trading liabilities Designated at fair value Derivatives $m $m $m $m $m $m $m At 31 Dec 2019 Transfers from Level 1 to Level 2 5,257 3,304 1,332 24 278 — — Transfers from Level 2 to Level 1 3,486 2,726 673 111 220 — 117 At 31 Dec 2018 Transfers from Level 1 to Level 2 367 435 2 1 79 — — Transfers from Level 2 to Level 1 17,861 4,959 85 128 1,821 — 138 Transfers between levels of the fair value hierarchy are deemed to occur at the end of each quarterly reporting period. Transfers into and out of levels of the fair value hierarchy are primarily attributable to observability of valuation inputs and price transparency. Fair value adjustments Fair value adjustments are adopted when HSBC determines there are additional factors considered by market participants that are not incorporated within the valuation model. Movements in the level of fair value adjustments do not necessarily result in the recognition of profits or losses within the income statement, such as when models are enhanced and therefore fair value adjustments may no longer be required. Global Banking and Markets and Corporate Centre fair value adjustments 2019 2018 GB&M Corporate Centre GB&M Corporate Centre $m $m $m $m Type of adjustment Risk-related 1,040 125 1,042 138 – bid-offer 428 79 430 76 – uncertainty 115 1 99 6 – credit valuation adjustment 355 38 442 52 – debt valuation adjustment (126 ) — (198 ) — – funding fair value adjustment 241 7 256 4 – other 27 — 13 — Model-related 71 3 79 3 – model limitation 68 3 79 3 – other 3 — — — Inception profit (Day 1 P&L reserves) 72 — 85 — At 31 Dec 1,183 128 1,206 141 Bid-offer IFRS 13 ‘Fair value measurement’ requires the use of the price within the bid-offer spread that is most representative of fair value. Valuation models will typically generate mid-market values. The bid-offer adjustment reflects the extent to which bid-offer costs would be incurred if substantially all residual net portfolio market risks were closed using available hedging instruments or by disposing of or unwinding the position. Uncertainty Certain model inputs may be less readily determinable from market data and/or the choice of model itself may be more subjective. In these circumstances, an adjustment may be necessary to reflect the likelihood that market participants would adopt more conservative values for uncertain parameters and/or model assumptions than those used in HSBC’s valuation model. Credit and debt valuation adjustments The credit valuation adjustment (‘CVA’) is an adjustment to the valuation of over-the-counter (‘OTC’) derivative contracts to reflect the possibility that the counterparty may default and that HSBC may not receive the full market value of the transactions. The debt valuation adjustment (‘DVA’) is an adjustment to the valuation of OTC derivative contracts to reflect the possibility that HSBC may default, and that it may not pay the full market value of the transactions. HSBC calculates a separate CVA and DVA for each legal entity, and for each counterparty to which the entity has exposure. With the exception of central clearing parties, all third-party counterparties are included in the CVA and DVA calculations, and these adjustments are not netted across Group entities. HSBC calculates the CVA by applying the probability of default (‘PD’) of the counterparty, conditional on the non-default of HSBC, to HSBC’s expected positive exposure to the counterparty and multiplying the result by the loss expected in the event of default. Conversely, HSBC calculates the DVA by applying the PD of HSBC, conditional on the non-default of the counterparty, to the expected positive exposure of the counterparty to HSBC and multiplying the result by the loss expected in the event of default. Both calculations are performed over the life of the potential exposure. For most products HSBC uses a simulation methodology, which incorporates a range of potential exposures over the life of the portfolio, to calculate the expected positive exposure to a counterparty. The simulation methodology includes credit mitigants, such as counterparty netting agreements and collateral agreements with the counterparty. The methodologies do not, in general, account for ‘wrong-way risk’. Wrong-way risk is an adverse correlation between the counterparty’s probability of default and the mark-to-market value of the underlying transaction. The risk can either be general, perhaps related to the currency of the issuer country, or specific to the transaction concerned. When there is significant wrong-way risk, a trade-specific approach is applied to reflect this risk in the valuation. Funding fair value adjustment The funding fair value adjustment (‘FFVA’) is calculated by applying future market funding spreads to the expected future funding exposure of any uncollateralised component of the OTC derivative portfolio. The expected future funding exposure is calculated by a simulation methodology, where available, and is adjusted for events that may terminate the exposure, such as the default of HSBC or the counterparty. The FFVA and DVA are calculated independently. Model limitation Models used for portfolio valuation purposes may be based upon a simplified set of assumptions that do not capture all current and future material market characteristics. In these circumstances, model limitation adjustments are adopted. Inception profit (Day 1 P&L reserves) Inception profit adjustments are adopted when the fair value estimated by a valuation model is based on one or more significant unobservable inputs. The accounting for inception profit adjustments is discussed in Note 1 . Fair value valuation bases Financial instruments measured at fair value using a valuation technique with significant unobservable inputs – Level 3 Assets Liabilities Financial investments Trading assets Designated and otherwise mandatorily measured at fair value through profit or loss Derivatives Total Trading liabilities Designated at fair value Derivatives Total $m $m $m $m $m $m $m $m $m Private equity including strategic investments 716 4 7,289 — 8,009 4 — — 4 Asset-backed securities 874 934 28 — 1,836 — — — — Loans held for securitisation — 1 39 — 40 — — — — Structured notes — 3 — — 3 47 5,016 — 5,063 Derivatives with monolines — — — 66 66 — — — — Other derivatives — — — 2,070 2,070 — — 2,302 2,302 Other portfolios 433 4,037 393 — 4,863 2 — — 2 At 31 Dec 2019 2,023 4,979 7,749 2,136 16,887 53 5,016 2,302 7,371 Private equity including strategic investments 427 20 5,106 — 5,553 12 — — 12 Asset-backed securities 1,030 1,140 32 — 2,202 — — — — Loans held for securitisation — — 49 — 49 — — — — Structured notes — 3 — — 3 46 5,328 — 5,374 Derivatives with monolines — — — 65 65 — — — — Other derivatives — — — 2,358 2,358 — — 1,755 1,755 Other portfolios 543 5,596 305 — 6,444 — — 1 1 At 31 Dec 2018 2,000 6,759 5,492 2,423 16,674 58 5,328 1,756 7,142 Level 3 instruments are present in both ongoing and legacy businesses. Loans held for securitisation, derivatives with monolines, certain ‘other derivatives’ and predominantly all Level 3 ABSs are legacy positions. HSBC has the capability to hold these positions. Private equity including strategic investments The fair value of a private equity investment (including strategic investments) is estimated on the basis of an analysis of the investee’s financial position and results, risk profile, prospects and other factors; by reference to market valuations for similar entities quoted in an active market; or the price at which similar companies have changed ownership. Asset-backed securities While quoted market prices are generally used to determine the fair value of the asset-backed securities (‘ABSs’), valuation models are used to substantiate the reliability of the limited market data available and to identify whether any adjustments to quoted market prices are required. For certain ABSs, such as residential mortgage-backed securities, the valuation uses an industry standard model with assumptions relating to prepayment speeds, default rates and loss severity based on collateral type, and performance, as appropriate. The valuations output is benchmarked for consistency against observable data for securities of a similar nature. Structured notes The fair value of Level 3 structured notes is derived from the fair value of the underlying debt security, and the fair value of the embedded derivative is determined as described in the paragraph below on derivatives. These structured notes comprise principally equity-linked notes issued by HSBC, which provide the counterparty with a return linked to the performance of equity securities and other portfolios. Examples of the unobservable parameters include long-dated equity volatilities and correlations between equity prices, and interest and foreign exchange rates. Derivatives OTC derivative valuation models calculate the present value of expected future cash flows, based upon ‘no arbitrage’ principles. For many vanilla derivative products, the modelling approaches used are standard across the industry. For more complex derivative products, there may be some differences in market practice. Inputs to valuation models are determined from observable market data wherever possible, including prices available from exchanges, dealers, brokers or providers of consensus pricing. Certain inputs may not be observable in the market directly, but can be determined from observable prices via model calibration procedures or estimated from historical data or other sources. Reconciliation of fair value measurements in Level 3 of the fair value hierarchy Movement in Level 3 financial instruments Assets Liabilities Financial invest-ments Trading assets Designated and otherwise mandatorily measured at fair value through profit or loss Derivatives Trading liabilities Designated at fair value Derivatives Footnotes $m $m $m $m $m $m $m At 1 Jan 2019 2,000 6,759 5,492 2,423 58 5,328 1,756 Total gains/(losses) recognised in profit or loss 6 (112 ) 598 278 (4 ) 195 930 – net income from financial instruments held for trading or managed on a fair value basis — (112 ) — 278 (4 ) — 930 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 598 — — 195 — – gains less losses from financial investments at fair value through other comprehensive income 10 — — — — — — – expected credit loss charges and other credit risk charges (4 ) — — — — — — Total gains/(losses) recognised in other comprehensive income (‘OCI’) 1 269 76 (1 ) 49 1 18 52 – financial investments: fair value gains/(losses) 261 — — — — — — – exchange differences 8 76 (1 ) 49 1 18 52 Purchases 271 2,206 2,353 — 8 157 — New issuances — 154 — — 6 1,601 — Sales (10 ) (895 ) (276 ) — (9 ) (193 ) — Settlements (329 ) (2,107 ) (434 ) (100 ) (7 ) (1,048 ) (162 ) Transfers out (471 ) (1,558 ) (23 ) (710 ) (9 ) (1,079 ) (473 ) Transfers in 287 456 40 196 9 37 199 At 31 Dec 2019 2,023 4,979 7,749 2,136 53 5,016 2,302 Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at 31 Dec 2019 (4 ) (22 ) 477 279 — 57 (407 ) – net income from financial instruments held — (22 ) — 279 — — (407 ) – changes in fair value of other financial — — 477 — — 57 — – loan impairment recoveries and other credit (4 ) — — — — — — Movement in Level 3 financial instruments (continued) Assets Liabilities Financial invest-ments Trading assets Designated and otherwise mandatorily measured at fair value through profit or loss Derivatives Trading liabilities Designated at fair value Derivatives Footnotes $m $m $m $m $m $m $m At 1 Jan 2018 1,767 5,080 3,958 2,444 93 4,107 1,949 Total gains/(losses) recognised in profit or loss 251 284 608 597 (4 ) (637 ) 255 – net income from financial instruments held for trading or managed on a fair value basis — 284 — 597 (4 ) — 255 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 608 — — (637 ) — – gains less losses from financial investments at fair value through other comprehensive income 251 — — — — — — Total gains/(losses) recognised in other comprehensive income (‘OCI’) 1 17 (274 ) (107 ) (113 ) (3 ) (144 ) (82 ) – financial investments: fair value gains/(losses) 15 — — — — — — – cash flow hedges: fair value gains/(losses) — — 6 6 — — 2 – exchange differences 2 (274 ) (113 ) (119 ) (3 ) (144 ) (84 ) Purchases 275 4,377 2,172 — 3 76 — New issuances — 975 — — 6 2,442 — Sales (51 ) (1,589 ) (395 ) — (11 ) — — Settlements (141 ) (2,021 ) (541 ) (191 ) (2 ) (32 ) (18 ) Transfers out (685 ) (1,402 ) (285 ) (337 ) (24 ) (1,112 ) (464 ) Transfers in 567 1,329 82 23 — 628 116 At 31 Dec 2018 2,000 6,759 5,492 2,423 58 5,328 1,756 Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at 31 Dec 2018 — (5 ) 199 342 (5 ) 274 (351 ) – net income from financial instruments held for trading or managed on a fair value basis — (5 ) — 342 (5 ) — (351 ) – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 199 — — 274 — – loan impairment recoveries and other credit risk provisions — — — — — — — 1 Included in ‘financial investments: fair value gains/(losses)’ in the current year and ‘exchange differences’ in the consolidated statement of comprehensive income. Transfers between levels of the fair value hierarchy are deemed to occur at the end of each quarterly reporting period. Transfers into and out of levels of the fair value hierarchy are primarily attributable to observability of valuation inputs and price transparency. Effect of changes in significant unobservable assumptions to reasonably possible alternatives Sensitivity of Level 3 fair values to reasonably possible alternative assumptions 2019 2018 Reflected in profit or loss Reflected in OCI Reflected in profit or loss Reflected in OCI Favourable Un- Favourable Un- Favourable Un- Favourable Un- Footnotes $m $m $m $m $m $m $m $m Derivatives, trading assets and trading liabilities 1 255 (230 ) — — 269 (257 ) — — Designated and otherwise mandatorily measured at fair value through profit or loss 532 (417 ) — — 394 (310 ) — — Financial investments 48 (53 ) 22 (22 ) 34 (36 ) 23 (22 ) At 31 Dec 835 (700 ) 22 (22 ) 697 (603 ) 23 (22 ) 1 Derivatives, trading assets and trading liabilities are presented as one category to reflect the manner in which these instruments are risk managed. The sensitivity analysis aims to measure a range of fair values consistent with the application of a 95% confidence interval. Methodologies take account of the nature of the valuation technique employed, as well as the availability and reliability of observable proxy and historical data. When the fair value of a financial instrument is affected by more than one unobservable assumption, the above table reflects the most favourable or the most unfavourable change from varying the assumptions individually. Key unobservable inputs to Level 3 financial instruments The following table lists key unobservable inputs to Level 3 financial instruments and provides the range of those inputs at 31 December 2019 . The core range of inputs is the estimated range within which 90% of the inputs fall. Quantitative information about significant unobservable inputs in Level 3 valuations Fair value 2019 2018 Assets Liabilities Valuation Key unobservable Full range Core range 1 Full range Core range 1 Footnotes $m $m Lower Higher Lower Higher Lower Higher Lower Higher Private equity including 8,009 4 See below See below n/a n/a n/a n/a n/a n/a n/a n/a Asset-backed securities 2 1,836 — – CLO/CDO 373 — Market proxy Prepayment rate 0% 9% 0% 9% 0% 10% 0% 10% Market proxy Bid quotes 0 100 0 100 0 100 50 100 – other ABSs 1,463 — Market proxy Bid quotes 0 101 61 98 0 271 71 99 Loans held for securitisation 40 — Structured notes 3 5,063 – equity-linked notes — 3,768 Model – Equity volatility 5% 90% 6% 56% 8% 79% 13% 53% Model – Option model Equity correlation 9% 93% 9% 93% 17% 93% 40% 77% – FX-linked notes — 1,046 Model – Option model FX volatility 1% 23% 3% 22% 1% 27% 3% 25% – other 3 249 Derivatives with monolines 66 — Model – Discounted Credit spread 0.4% 2% 0.4% 2% 0.2% 1% 0.2% 1% Other derivatives 2,070 2,302 – Interest rate derivatives: securitisation swaps 314 640 Model – Discounted Prepayment 6% 7% 6% 7% 6% 7% 6% 7% long-dated swaptions 838 51 Model – Option model IR volatility 8% 22% 8% 21% 13% 39% 14% 36% other 255 155 – FX derivatives: FX options 93 218 Model – Option model FX volatility 1% 25% 5% 11% 1% 27% 7% 12% other 119 104 – Equity derivatives: long-dated single stock options 230 293 Model – Option model Equity volatility 0% 89% 7% 74% 5% 83% 5% 81% other 78 712 – Credit derivatives: other 143 129 Other portfolios 4,863 2 – structured certificates 1,515 — Model – Discounted cash flow Credit volatility 4% 4% 4% 4% 2% 4% 2% 4% – repurchase agreements 1,604 — – other 3 1,744 2 At 31 Dec 2019 16,887 7,371 1 The core range of inputs is the estimated range within which 90% of the inputs fall. 2 Collateralised loan obligation/collateralised debt obligation. 3 ‘Other’ includes a range of smaller asset holdings. Private equity including strategic investments Given the bespoke nature of the analysis in respect of each private equity holding, it is not practical to quote a range of key unobservable inputs. Prepayment rates Prepayment rates are a measure of the anticipated future speed at which a loan portfolio will be repaid in advance of the due date. They vary according to the nature of the loan portfolio and expectations of future market conditions, and may be estimated using a variety of evidence, such as prepayment rates implied from proxy observable security prices, current or historical prepayment rates and macroeconomic modelling. Market proxy Market proxy pricing may be used for an instrument when specific market pricing is not available but there is evidence from instruments with common characteristics. In some cases it might be possible to identify a specific proxy, but more generally evidence across a wider range of instruments will be used to understand the factors that influence current market pricing and the manner of that influence. Volatility Volatility is a measure of the anticipated future variability of a market price. It varies by underlying reference market price, and by strike and maturity of the option. Certain volatilities, typically those of a longer-dated nature, are unobservable and are estimated from observable data. The range of unobservable volatilities reflects the wide variation in volatility inputs by reference market price. The core range is significantly narrower than the full range because these examples with extreme volatilities occur relatively rarely within the HSBC portfolio. Correlation Correlation is a measure of the inter-relationship between two market prices and is expressed as a number between minus one and one. It is used to value more complex instruments where the payout is dependent upon more than one market price. There is a wide range of instruments for which correlation is an input, and consequently a wide range of both same-asset correlations and cross-asset correlations is used. In general, the range of same-asset correlations will be narrower than the range of cross-asset correlations. Unobservable correlations may be estimated based upon a range of evidence, including consensus pricing services, HSBC trade prices, proxy correlations and examination of historical price relationships. The range of unobservable correlations quoted in the table reflects the wide variation in correlation inputs by market price pair. Credit spread Credit spread is the premium over a benchmark interest rate required by the market to accept lower credit quality. In a discounted cash flow model, the credit spread increases the discount factors applied to future cash flows, thereby reducing the value of an asset. Credit spreads may be implied from market prices and may not be observable in more illiquid markets. Inter-relationships between key unobservable inputs Key unobservable inputs to Level 3 financial instruments may not be independent of each other. As described above, market variables may be correlated. This correlation typically reflects the manner in which different markets tend to react to macroeconomic or other events. Furthermore, the effect of changing market variables on the HSBC portfolio will depend on HSBC’s net risk position in respect of each variable. HSBC Holdings Basis of valuing HSBC Holdings’ financial assets and liabilities measured at fair value 2019 2018 Footnotes $m $m Valuation technique using observable inputs: Level 2 Assets at 31 Dec – derivatives 2,002 707 – financial investments — — – designated and otherwise mandatorily measured at fair value through profit or loss 1 61,964 23,513 Liabilities at 31 Dec – designated at fair value 30,303 25,049 – derivatives 2,021 2,159 1 In 2019, due to the restructuring of the Group’s Asia and UK operations to meet resolution and recovery requirements, changes in the terms of financial assets have resulted in the derecognition of principal amounts of $33.3b n, relating to financial assets measured at amortised cost. Under the revised terms, financial assets with principal amounts of $33.3b n (2018: nil ) measured on fair value basis have been recognised. 13 Fair values of financial instruments not carried at fair value Fair values of financial instruments not carried at fair value and bases of valuation Fair value Carrying Quoted market Observable Significant Total $m $m $m $m $m At 31 Dec 2019 Assets Loans and advances to banks 69,203 — 68,508 739 69,247 Loans and advances to customers 1,036,743 — 10,365 1,027,178 1,037,543 Reverse repurchase agreements – non-trading 240,862 16 240,199 691 240,906 Financial investments – at amortised cost 85,735 26,202 62,572 287 89,061 Liabilities Deposits by banks 59,022 — 58,951 — 58,951 Customer accounts 1,439,115 — 1,439,362 150 1,439,512 Repurchase agreements – non-trading 140,344 — 140,344 — 140,344 Debt securities in issue 104,555 — 104,936 — 104,936 Subordinated liabilities 24,600 — 28,861 385 29,246 At 31 Dec 2018 Assets Loans and advances to banks 72,167 — 68,378 3,791 72,169 Loans and advances to customers 981,696 — 10,518 974,559 985,077 Reverse repurchase agreements – non-trading 242,804 81 241,407 1,369 242,857 Financial investments – at amortised cost 62,666 1,790 60,073 216 62,079 Liabilities Deposits by banks 56,331 — 56,308 — 56,308 Customer accounts 1,362,643 — 1,362,794 151 1,362,945 Repurchase agreements – non-trading 165,884 — 165,884 — 165,884 Debt securities in issue 85,342 — 85,430 — 85,430 Subordinated liabilities 22,437 — 24,968 373 25,341 Other financial instruments not carried at fair value are typically short term in nature and reprice to current market rates frequently. Accordingly, their carrying amount is a reasonable approximation of fair value. They include cash and balances at central banks, items in the course of collection from and transmission to other banks, Hong Kong Government certificates of indebtedness and Hong Kong currency notes in circulation, all of which are measured at amortised cost. Valuation Fair value is an estimate of the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. It does not reflect the economic benefits and costs that HSBC expects to flow from an instrument’s cash flow over its expected future life. Our valuation methodologies and assumptions in determining fair values for which no observable market prices are available may differ from those of other companies. Loans and advances to banks and customers To determine the fair value of loans and advances to banks and customers, loans are segregated, as far as possible, into portfolios of similar characteristics. Fair values are based on observable market transactions, when available. When they are unavailable, fair values are estimated using valuation models incorporating a range of input assumptions. These assumptions may include: value estimates from third-party brokers reflecting over-the-counter trading activity; forward-looking discounted cash flow models, taking account of expected customer prepayment rates, using assumptions that HSBC believes are consistent with those that would be used by market participants in valuing such loans; new business rates estimates for similar loans; and trading inputs from other market participants including observed primary and secondary trades. From time to time, we may engage a third-party valuation specialist to measure the fair value of a pool of loans. The fair value of loans reflects expected credit losses at the balance sheet date and estimates of market participants’ expectations of credit losses over the life of the loans, and the fair value effect of repricing between origination and the balance sheet date. For credit-impaired loans, fair value is estimated by discounting the future cash flows over the time period they are expected to be recovered. Financial investments The fair values of listed financial investments are determined using bid market prices. The fair values of unlisted financial investments are determined using valuation techniques that incorporate the prices and future earnings streams of equivalent quoted securities. Deposits by banks and customer accounts The fair values of on-demand deposits are approximated by their carrying value. For deposits with longer-term maturities, fair values are estimated using discounted cash flows, applying current rates offered for deposits of similar remaining maturities. Debt securities in issue and subordinated liabilities Fair values in debt securities in issue and subordinated liabilities are determined using quoted market prices at the balance sheet date where available, or by reference to quoted market prices for similar instruments. Repurchase and reverse repurchase agreements – non-trading Fair values of repurchase and reverse repurchase agreements that are held on a non-trading basis provide approximate carrying amounts. This is due to the fact that balances are generally short dated. HSBC Holdings The methods used by HSBC Holdings to determine fair values of financial instruments for the purposes of measurement and disclosure are described above. Fair values of HSBC Holdings’ financial instruments not carried at fair value on the balance sheet 2019 2018 Carrying amount Fair value 1 Carrying amount Fair value 1 Footnotes $m $m $m $m Assets at 31 Dec Loans and advances to HSBC undertakings 10,218 10,504 56,144 56,801 Financial investments – at amortised cost 2 16,106 16,121 Liabilities at 31 Dec Amounts owed to HSBC undertakings 464 464 949 949 Debt securities in issue 56,844 59,140 50,800 51,552 Subordinated liabilities 18,361 22,536 17,715 20,224 1 Fair values (other than Level 1 financial investments) were determined using valuation techniques with observable inputs (Level 2). 2 The 2019 period includes $16.1b n (2018: nil ) of investments in highly liquid securities. |
Fair values of financial inst_2
Fair values of financial instruments not carried at fair value | 12 Months Ended |
Dec. 31, 2019 | |
Fair Value Measurement [Abstract] | |
Fair values of financial instruments not carried at fair value | 12 Fair values of financial instruments carried at fair value Control framework Fair values are subject to a control framework designed to ensure that they are either determined or validated by a function independent of the risk taker. Where fair values are determined by reference to externally quoted prices or observable pricing inputs to models, independent price determination or validation is used. For inactive markets, HSBC sources alternative market information, with greater weight given to information that is considered to be more relevant and reliable. Examples of the factors considered are price observability, instrument comparability, consistency of data sources, underlying data accuracy and timing of prices. For fair values determined using valuation models, the control framework includes development or validation by independent support functions of the model logic, inputs, model outputs and adjustments. Valuation models are subject to a process of due diligence before becoming operational and are calibrated against external market data on an ongoing basis. Changes in fair value are generally subject to a profit and loss analysis process and are disaggregated into high-level categories including portfolio changes, market movements and other fair value adjustments. The majority of financial instruments measured at fair value are in GB&M. GB&M’s fair value governance structure comprises its Finance function, Valuation Committees and a Valuation Committee Review Group. Finance is responsible for establishing procedures governing valuation and ensuring fair values are in compliance with accounting standards. The fair values are reviewed by the Valuation Committees, which consist of independent support functions. These committees are overseen by the Valuation Committee Review Group, which considers all material subjective valuations. Financial liabilities measured at fair value In certain circumstances, HSBC records its own debt in issue at fair value, based on quoted prices in an active market for the specific instrument. When quoted market prices are unavailable, the own debt in issue is valued using valuation techniques, the inputs for which are either based on quoted prices in an inactive market for the instrument or are estimated by comparison with quoted prices in an active market for similar instruments. In both cases, the fair value includes the effect of applying the credit spread that is appropriate to HSBC’s liabilities. The change in fair value of issued debt securities attributable to the Group’s own credit spread is computed as follows: for each security at each reporting date, an externally verifiable price is obtained or a price is derived using credit spreads for similar securities for the same issuer. Then, using discounted cash flow, each security is valued using a Libor-based discount curve. The difference in the valuations is attributable to the Group’s own credit spread. This methodology is applied consistently across all securities. Structured notes issued and certain other hybrid instruments are included within trading liabilities and are measured at fair value. The credit spread applied to these instruments is derived from the spreads at which HSBC issues structured notes. Gains and losses arising from changes in the credit spread of liabilities issued by HSBC, recorded in other comprehensive income, reverse over the contractual life of the debt, provided that the debt is not repaid at a premium or a discount. Fair value hierarchy Fair values of financial assets and liabilities are determined according to the following hierarchy: • Level 1 – valuation technique using quoted market price. These are financial instruments with quoted prices for identical instruments in active markets that HSBC can access at the measurement date. • Level 2 – valuation technique using observable inputs. These are financial instruments with quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in inactive markets and financial instruments valued using models where all significant inputs are observable. • Level 3 – valuation technique with significant unobservable inputs. These are financial instruments valued using valuation techniques where one or more significant inputs are unobservable. Financial instruments carried at fair value and bases of valuation 2019 2018 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total $m $m $m $m $m $m $m $m Recurring fair value measurements Assets Trading assets 186,653 62,639 4,979 254,271 178,100 53,271 6,759 238,130 Financial assets designated and otherwise mandatorily measured at fair value through profit or loss 26,505 9,373 7,749 43,627 23,125 12,494 5,492 41,111 Derivatives 1,728 239,131 2,136 242,995 1,868 203,534 2,423 207,825 Financial investments 271,467 84,087 2,023 357,577 263,885 78,882 2,000 344,767 Liabilities Trading liabilities 66,925 16,192 53 83,170 66,300 18,073 58 84,431 Financial liabilities designated at fair value 9,549 149,901 5,016 164,466 6,815 136,362 5,328 148,505 Derivatives 1,331 235,864 2,302 239,497 2,845 201,234 1,756 205,835 Transfers between Level 1 and Level 2 fair values Assets Liabilities Financial investments Trading assets Designated Derivatives Trading liabilities Designated at fair value Derivatives $m $m $m $m $m $m $m At 31 Dec 2019 Transfers from Level 1 to Level 2 5,257 3,304 1,332 24 278 — — Transfers from Level 2 to Level 1 3,486 2,726 673 111 220 — 117 At 31 Dec 2018 Transfers from Level 1 to Level 2 367 435 2 1 79 — — Transfers from Level 2 to Level 1 17,861 4,959 85 128 1,821 — 138 Transfers between levels of the fair value hierarchy are deemed to occur at the end of each quarterly reporting period. Transfers into and out of levels of the fair value hierarchy are primarily attributable to observability of valuation inputs and price transparency. Fair value adjustments Fair value adjustments are adopted when HSBC determines there are additional factors considered by market participants that are not incorporated within the valuation model. Movements in the level of fair value adjustments do not necessarily result in the recognition of profits or losses within the income statement, such as when models are enhanced and therefore fair value adjustments may no longer be required. Global Banking and Markets and Corporate Centre fair value adjustments 2019 2018 GB&M Corporate Centre GB&M Corporate Centre $m $m $m $m Type of adjustment Risk-related 1,040 125 1,042 138 – bid-offer 428 79 430 76 – uncertainty 115 1 99 6 – credit valuation adjustment 355 38 442 52 – debt valuation adjustment (126 ) — (198 ) — – funding fair value adjustment 241 7 256 4 – other 27 — 13 — Model-related 71 3 79 3 – model limitation 68 3 79 3 – other 3 — — — Inception profit (Day 1 P&L reserves) 72 — 85 — At 31 Dec 1,183 128 1,206 141 Bid-offer IFRS 13 ‘Fair value measurement’ requires the use of the price within the bid-offer spread that is most representative of fair value. Valuation models will typically generate mid-market values. The bid-offer adjustment reflects the extent to which bid-offer costs would be incurred if substantially all residual net portfolio market risks were closed using available hedging instruments or by disposing of or unwinding the position. Uncertainty Certain model inputs may be less readily determinable from market data and/or the choice of model itself may be more subjective. In these circumstances, an adjustment may be necessary to reflect the likelihood that market participants would adopt more conservative values for uncertain parameters and/or model assumptions than those used in HSBC’s valuation model. Credit and debt valuation adjustments The credit valuation adjustment (‘CVA’) is an adjustment to the valuation of over-the-counter (‘OTC’) derivative contracts to reflect the possibility that the counterparty may default and that HSBC may not receive the full market value of the transactions. The debt valuation adjustment (‘DVA’) is an adjustment to the valuation of OTC derivative contracts to reflect the possibility that HSBC may default, and that it may not pay the full market value of the transactions. HSBC calculates a separate CVA and DVA for each legal entity, and for each counterparty to which the entity has exposure. With the exception of central clearing parties, all third-party counterparties are included in the CVA and DVA calculations, and these adjustments are not netted across Group entities. HSBC calculates the CVA by applying the probability of default (‘PD’) of the counterparty, conditional on the non-default of HSBC, to HSBC’s expected positive exposure to the counterparty and multiplying the result by the loss expected in the event of default. Conversely, HSBC calculates the DVA by applying the PD of HSBC, conditional on the non-default of the counterparty, to the expected positive exposure of the counterparty to HSBC and multiplying the result by the loss expected in the event of default. Both calculations are performed over the life of the potential exposure. For most products HSBC uses a simulation methodology, which incorporates a range of potential exposures over the life of the portfolio, to calculate the expected positive exposure to a counterparty. The simulation methodology includes credit mitigants, such as counterparty netting agreements and collateral agreements with the counterparty. The methodologies do not, in general, account for ‘wrong-way risk’. Wrong-way risk is an adverse correlation between the counterparty’s probability of default and the mark-to-market value of the underlying transaction. The risk can either be general, perhaps related to the currency of the issuer country, or specific to the transaction concerned. When there is significant wrong-way risk, a trade-specific approach is applied to reflect this risk in the valuation. Funding fair value adjustment The funding fair value adjustment (‘FFVA’) is calculated by applying future market funding spreads to the expected future funding exposure of any uncollateralised component of the OTC derivative portfolio. The expected future funding exposure is calculated by a simulation methodology, where available, and is adjusted for events that may terminate the exposure, such as the default of HSBC or the counterparty. The FFVA and DVA are calculated independently. Model limitation Models used for portfolio valuation purposes may be based upon a simplified set of assumptions that do not capture all current and future material market characteristics. In these circumstances, model limitation adjustments are adopted. Inception profit (Day 1 P&L reserves) Inception profit adjustments are adopted when the fair value estimated by a valuation model is based on one or more significant unobservable inputs. The accounting for inception profit adjustments is discussed in Note 1 . Fair value valuation bases Financial instruments measured at fair value using a valuation technique with significant unobservable inputs – Level 3 Assets Liabilities Financial investments Trading assets Designated and otherwise mandatorily measured at fair value through profit or loss Derivatives Total Trading liabilities Designated at fair value Derivatives Total $m $m $m $m $m $m $m $m $m Private equity including strategic investments 716 4 7,289 — 8,009 4 — — 4 Asset-backed securities 874 934 28 — 1,836 — — — — Loans held for securitisation — 1 39 — 40 — — — — Structured notes — 3 — — 3 47 5,016 — 5,063 Derivatives with monolines — — — 66 66 — — — — Other derivatives — — — 2,070 2,070 — — 2,302 2,302 Other portfolios 433 4,037 393 — 4,863 2 — — 2 At 31 Dec 2019 2,023 4,979 7,749 2,136 16,887 53 5,016 2,302 7,371 Private equity including strategic investments 427 20 5,106 — 5,553 12 — — 12 Asset-backed securities 1,030 1,140 32 — 2,202 — — — — Loans held for securitisation — — 49 — 49 — — — — Structured notes — 3 — — 3 46 5,328 — 5,374 Derivatives with monolines — — — 65 65 — — — — Other derivatives — — — 2,358 2,358 — — 1,755 1,755 Other portfolios 543 5,596 305 — 6,444 — — 1 1 At 31 Dec 2018 2,000 6,759 5,492 2,423 16,674 58 5,328 1,756 7,142 Level 3 instruments are present in both ongoing and legacy businesses. Loans held for securitisation, derivatives with monolines, certain ‘other derivatives’ and predominantly all Level 3 ABSs are legacy positions. HSBC has the capability to hold these positions. Private equity including strategic investments The fair value of a private equity investment (including strategic investments) is estimated on the basis of an analysis of the investee’s financial position and results, risk profile, prospects and other factors; by reference to market valuations for similar entities quoted in an active market; or the price at which similar companies have changed ownership. Asset-backed securities While quoted market prices are generally used to determine the fair value of the asset-backed securities (‘ABSs’), valuation models are used to substantiate the reliability of the limited market data available and to identify whether any adjustments to quoted market prices are required. For certain ABSs, such as residential mortgage-backed securities, the valuation uses an industry standard model with assumptions relating to prepayment speeds, default rates and loss severity based on collateral type, and performance, as appropriate. The valuations output is benchmarked for consistency against observable data for securities of a similar nature. Structured notes The fair value of Level 3 structured notes is derived from the fair value of the underlying debt security, and the fair value of the embedded derivative is determined as described in the paragraph below on derivatives. These structured notes comprise principally equity-linked notes issued by HSBC, which provide the counterparty with a return linked to the performance of equity securities and other portfolios. Examples of the unobservable parameters include long-dated equity volatilities and correlations between equity prices, and interest and foreign exchange rates. Derivatives OTC derivative valuation models calculate the present value of expected future cash flows, based upon ‘no arbitrage’ principles. For many vanilla derivative products, the modelling approaches used are standard across the industry. For more complex derivative products, there may be some differences in market practice. Inputs to valuation models are determined from observable market data wherever possible, including prices available from exchanges, dealers, brokers or providers of consensus pricing. Certain inputs may not be observable in the market directly, but can be determined from observable prices via model calibration procedures or estimated from historical data or other sources. Reconciliation of fair value measurements in Level 3 of the fair value hierarchy Movement in Level 3 financial instruments Assets Liabilities Financial invest-ments Trading assets Designated and otherwise mandatorily measured at fair value through profit or loss Derivatives Trading liabilities Designated at fair value Derivatives Footnotes $m $m $m $m $m $m $m At 1 Jan 2019 2,000 6,759 5,492 2,423 58 5,328 1,756 Total gains/(losses) recognised in profit or loss 6 (112 ) 598 278 (4 ) 195 930 – net income from financial instruments held for trading or managed on a fair value basis — (112 ) — 278 (4 ) — 930 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 598 — — 195 — – gains less losses from financial investments at fair value through other comprehensive income 10 — — — — — — – expected credit loss charges and other credit risk charges (4 ) — — — — — — Total gains/(losses) recognised in other comprehensive income (‘OCI’) 1 269 76 (1 ) 49 1 18 52 – financial investments: fair value gains/(losses) 261 — — — — — — – exchange differences 8 76 (1 ) 49 1 18 52 Purchases 271 2,206 2,353 — 8 157 — New issuances — 154 — — 6 1,601 — Sales (10 ) (895 ) (276 ) — (9 ) (193 ) — Settlements (329 ) (2,107 ) (434 ) (100 ) (7 ) (1,048 ) (162 ) Transfers out (471 ) (1,558 ) (23 ) (710 ) (9 ) (1,079 ) (473 ) Transfers in 287 456 40 196 9 37 199 At 31 Dec 2019 2,023 4,979 7,749 2,136 53 5,016 2,302 Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at 31 Dec 2019 (4 ) (22 ) 477 279 — 57 (407 ) – net income from financial instruments held — (22 ) — 279 — — (407 ) – changes in fair value of other financial — — 477 — — 57 — – loan impairment recoveries and other credit (4 ) — — — — — — Movement in Level 3 financial instruments (continued) Assets Liabilities Financial invest-ments Trading assets Designated and otherwise mandatorily measured at fair value through profit or loss Derivatives Trading liabilities Designated at fair value Derivatives Footnotes $m $m $m $m $m $m $m At 1 Jan 2018 1,767 5,080 3,958 2,444 93 4,107 1,949 Total gains/(losses) recognised in profit or loss 251 284 608 597 (4 ) (637 ) 255 – net income from financial instruments held for trading or managed on a fair value basis — 284 — 597 (4 ) — 255 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 608 — — (637 ) — – gains less losses from financial investments at fair value through other comprehensive income 251 — — — — — — Total gains/(losses) recognised in other comprehensive income (‘OCI’) 1 17 (274 ) (107 ) (113 ) (3 ) (144 ) (82 ) – financial investments: fair value gains/(losses) 15 — — — — — — – cash flow hedges: fair value gains/(losses) — — 6 6 — — 2 – exchange differences 2 (274 ) (113 ) (119 ) (3 ) (144 ) (84 ) Purchases 275 4,377 2,172 — 3 76 — New issuances — 975 — — 6 2,442 — Sales (51 ) (1,589 ) (395 ) — (11 ) — — Settlements (141 ) (2,021 ) (541 ) (191 ) (2 ) (32 ) (18 ) Transfers out (685 ) (1,402 ) (285 ) (337 ) (24 ) (1,112 ) (464 ) Transfers in 567 1,329 82 23 — 628 116 At 31 Dec 2018 2,000 6,759 5,492 2,423 58 5,328 1,756 Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at 31 Dec 2018 — (5 ) 199 342 (5 ) 274 (351 ) – net income from financial instruments held for trading or managed on a fair value basis — (5 ) — 342 (5 ) — (351 ) – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 199 — — 274 — – loan impairment recoveries and other credit risk provisions — — — — — — — 1 Included in ‘financial investments: fair value gains/(losses)’ in the current year and ‘exchange differences’ in the consolidated statement of comprehensive income. Transfers between levels of the fair value hierarchy are deemed to occur at the end of each quarterly reporting period. Transfers into and out of levels of the fair value hierarchy are primarily attributable to observability of valuation inputs and price transparency. Effect of changes in significant unobservable assumptions to reasonably possible alternatives Sensitivity of Level 3 fair values to reasonably possible alternative assumptions 2019 2018 Reflected in profit or loss Reflected in OCI Reflected in profit or loss Reflected in OCI Favourable Un- Favourable Un- Favourable Un- Favourable Un- Footnotes $m $m $m $m $m $m $m $m Derivatives, trading assets and trading liabilities 1 255 (230 ) — — 269 (257 ) — — Designated and otherwise mandatorily measured at fair value through profit or loss 532 (417 ) — — 394 (310 ) — — Financial investments 48 (53 ) 22 (22 ) 34 (36 ) 23 (22 ) At 31 Dec 835 (700 ) 22 (22 ) 697 (603 ) 23 (22 ) 1 Derivatives, trading assets and trading liabilities are presented as one category to reflect the manner in which these instruments are risk managed. The sensitivity analysis aims to measure a range of fair values consistent with the application of a 95% confidence interval. Methodologies take account of the nature of the valuation technique employed, as well as the availability and reliability of observable proxy and historical data. When the fair value of a financial instrument is affected by more than one unobservable assumption, the above table reflects the most favourable or the most unfavourable change from varying the assumptions individually. Key unobservable inputs to Level 3 financial instruments The following table lists key unobservable inputs to Level 3 financial instruments and provides the range of those inputs at 31 December 2019 . The core range of inputs is the estimated range within which 90% of the inputs fall. Quantitative information about significant unobservable inputs in Level 3 valuations Fair value 2019 2018 Assets Liabilities Valuation Key unobservable Full range Core range 1 Full range Core range 1 Footnotes $m $m Lower Higher Lower Higher Lower Higher Lower Higher Private equity including 8,009 4 See below See below n/a n/a n/a n/a n/a n/a n/a n/a Asset-backed securities 2 1,836 — – CLO/CDO 373 — Market proxy Prepayment rate 0% 9% 0% 9% 0% 10% 0% 10% Market proxy Bid quotes 0 100 0 100 0 100 50 100 – other ABSs 1,463 — Market proxy Bid quotes 0 101 61 98 0 271 71 99 Loans held for securitisation 40 — Structured notes 3 5,063 – equity-linked notes — 3,768 Model – Equity volatility 5% 90% 6% 56% 8% 79% 13% 53% Model – Option model Equity correlation 9% 93% 9% 93% 17% 93% 40% 77% – FX-linked notes — 1,046 Model – Option model FX volatility 1% 23% 3% 22% 1% 27% 3% 25% – other 3 249 Derivatives with monolines 66 — Model – Discounted Credit spread 0.4% 2% 0.4% 2% 0.2% 1% 0.2% 1% Other derivatives 2,070 2,302 – Interest rate derivatives: securitisation swaps 314 640 Model – Discounted Prepayment 6% 7% 6% 7% 6% 7% 6% 7% long-dated swaptions 838 51 Model – Option model IR volatility 8% 22% 8% 21% 13% 39% 14% 36% other 255 155 – FX derivatives: FX options 93 218 Model – Option model FX volatility 1% 25% 5% 11% 1% 27% 7% 12% other 119 104 – Equity derivatives: long-dated single stock options 230 293 Model – Option model Equity volatility 0% 89% 7% 74% 5% 83% 5% 81% other 78 712 – Credit derivatives: other 143 129 Other portfolios 4,863 2 – structured certificates 1,515 — Model – Discounted cash flow Credit volatility 4% 4% 4% 4% 2% 4% 2% 4% – repurchase agreements 1,604 — – other 3 1,744 2 At 31 Dec 2019 16,887 7,371 1 The core range of inputs is the estimated range within which 90% of the inputs fall. 2 Collateralised loan obligation/collateralised debt obligation. 3 ‘Other’ includes a range of smaller asset holdings. Private equity including strategic investments Given the bespoke nature of the analysis in respect of each private equity holding, it is not practical to quote a range of key unobservable inputs. Prepayment rates Prepayment rates are a measure of the anticipated future speed at which a loan portfolio will be repaid in advance of the due date. They vary according to the nature of the loan portfolio and expectations of future market conditions, and may be estimated using a variety of evidence, such as prepayment rates implied from proxy observable security prices, current or historical prepayment rates and macroeconomic modelling. Market proxy Market proxy pricing may be used for an instrument when specific market pricing is not available but there is evidence from instruments with common characteristics. In some cases it might be possible to identify a specific proxy, but more generally evidence across a wider range of instruments will be used to understand the factors that influence current market pricing and the manner of that influence. Volatility Volatility is a measure of the anticipated future variability of a market price. It varies by underlying reference market price, and by strike and maturity of the option. Certain volatilities, typically those of a longer-dated nature, are unobservable and are estimated from observable data. The range of unobservable volatilities reflects the wide variation in volatility inputs by reference market price. The core range is significantly narrower than the full range because these examples with extreme volatilities occur relatively rarely within the HSBC portfolio. Correlation Correlation is a measure of the inter-relationship between two market prices and is expressed as a number between minus one and one. It is used to value more complex instruments where the payout is dependent upon more than one market price. There is a wide range of instruments for which correlation is an input, and consequently a wide range of both same-asset correlations and cross-asset correlations is used. In general, the range of same-asset correlations will be narrower than the range of cross-asset correlations. Unobservable correlations may be estimated based upon a range of evidence, including consensus pricing services, HSBC trade prices, proxy correlations and examination of historical price relationships. The range of unobservable correlations quoted in the table reflects the wide variation in correlation inputs by market price pair. Credit spread Credit spread is the premium over a benchmark interest rate required by the market to accept lower credit quality. In a discounted cash flow model, the credit spread increases the discount factors applied to future cash flows, thereby reducing the value of an asset. Credit spreads may be implied from market prices and may not be observable in more illiquid markets. Inter-relationships between key unobservable inputs Key unobservable inputs to Level 3 financial instruments may not be independent of each other. As described above, market variables may be correlated. This correlation typically reflects the manner in which different markets tend to react to macroeconomic or other events. Furthermore, the effect of changing market variables on the HSBC portfolio will depend on HSBC’s net risk position in respect of each variable. HSBC Holdings Basis of valuing HSBC Holdings’ financial assets and liabilities measured at fair value 2019 2018 Footnotes $m $m Valuation technique using observable inputs: Level 2 Assets at 31 Dec – derivatives 2,002 707 – financial investments — — – designated and otherwise mandatorily measured at fair value through profit or loss 1 61,964 23,513 Liabilities at 31 Dec – designated at fair value 30,303 25,049 – derivatives 2,021 2,159 1 In 2019, due to the restructuring of the Group’s Asia and UK operations to meet resolution and recovery requirements, changes in the terms of financial assets have resulted in the derecognition of principal amounts of $33.3b n, relating to financial assets measured at amortised cost. Under the revised terms, financial assets with principal amounts of $33.3b n (2018: nil ) measured on fair value basis have been recognised. 13 Fair values of financial instruments not carried at fair value Fair values of financial instruments not carried at fair value and bases of valuation Fair value Carrying Quoted market Observable Significant Total $m $m $m $m $m At 31 Dec 2019 Assets Loans and advances to banks 69,203 — 68,508 739 69,247 Loans and advances to customers 1,036,743 — 10,365 1,027,178 1,037,543 Reverse repurchase agreements – non-trading 240,862 16 240,199 691 240,906 Financial investments – at amortised cost 85,735 26,202 62,572 287 89,061 Liabilities Deposits by banks 59,022 — 58,951 — 58,951 Customer accounts 1,439,115 — 1,439,362 150 1,439,512 Repurchase agreements – non-trading 140,344 — 140,344 — 140,344 Debt securities in issue 104,555 — 104,936 — 104,936 Subordinated liabilities 24,600 — 28,861 385 29,246 At 31 Dec 2018 Assets Loans and advances to banks 72,167 — 68,378 3,791 72,169 Loans and advances to customers 981,696 — 10,518 974,559 985,077 Reverse repurchase agreements – non-trading 242,804 81 241,407 1,369 242,857 Financial investments – at amortised cost 62,666 1,790 60,073 216 62,079 Liabilities Deposits by banks 56,331 — 56,308 — 56,308 Customer accounts 1,362,643 — 1,362,794 151 1,362,945 Repurchase agreements – non-trading 165,884 — 165,884 — 165,884 Debt securities in issue 85,342 — 85,430 — 85,430 Subordinated liabilities 22,437 — 24,968 373 25,341 Other financial instruments not carried at fair value are typically short term in nature and reprice to current market rates frequently. Accordingly, their carrying amount is a reasonable approximation of fair value. They include cash and balances at central banks, items in the course of collection from and transmission to other banks, Hong Kong Government certificates of indebtedness and Hong Kong currency notes in circulation, all of which are measured at amortised cost. Valuation Fair value is an estimate of the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. It does not reflect the economic benefits and costs that HSBC expects to flow from an instrument’s cash flow over its expected future life. Our valuation methodologies and assumptions in determining fair values for which no observable market prices are available may differ from those of other companies. Loans and advances to banks and customers To determine the fair value of loans and advances to banks and customers, loans are segregated, as far as possible, into portfolios of similar characteristics. Fair values are based on observable market transactions, when available. When they are unavailable, fair values are estimated using valuation models incorporating a range of input assumptions. These assumptions may include: value estimates from third-party brokers reflecting over-the-counter trading activity; forward-looking discounted cash flow models, taking account of expected customer prepayment rates, using assumptions that HSBC believes are consistent with those that would be used by market participants in valuing such loans; new business rates estimates for similar loans; and trading inputs from other market participants including observed primary and secondary trades. From time to time, we may engage a third-party valuation specialist to measure the fair value of a pool of loans. The fair value of loans reflects expected credit losses at the balance sheet date and estimates of market participants’ expectations of credit losses over the life of the loans, and the fair value effect of repricing between origination and the balance sheet date. For credit-impaired loans, fair value is estimated by discounting the future cash flows over the time period they are expected to be recovered. Financial investments The fair values of listed financial investments are determined using bid market prices. The fair values of unlisted financial investments are determined using valuation techniques that incorporate the prices and future earnings streams of equivalent quoted securities. Deposits by banks and customer accounts The fair values of on-demand deposits are approximated by their carrying value. For deposits with longer-term maturities, fair values are estimated using discounted cash flows, applying current rates offered for deposits of similar remaining maturities. Debt securities in issue and subordinated liabilities Fair values in debt securities in issue and subordinated liabilities are determined using quoted market prices at the balance sheet date where available, or by reference to quoted market prices for similar instruments. Repurchase and reverse repurchase agreements – non-trading Fair values of repurchase and reverse repurchase agreements that are held on a non-trading basis provide approximate carrying amounts. This is due to the fact that balances are generally short dated. HSBC Holdings The methods used by HSBC Holdings to determine fair values of financial instruments for the purposes of measurement and disclosure are described above. Fair values of HSBC Holdings’ financial instruments not carried at fair value on the balance sheet 2019 2018 Carrying amount Fair value 1 Carrying amount Fair value 1 Footnotes $m $m $m $m Assets at 31 Dec Loans and advances to HSBC undertakings 10,218 10,504 56,144 56,801 Financial investments – at amortised cost 2 16,106 16,121 Liabilities at 31 Dec Amounts owed to HSBC undertakings 464 464 949 949 Debt securities in issue 56,844 59,140 50,800 51,552 Subordinated liabilities 18,361 22,536 17,715 20,224 1 Fair values (other than Level 1 financial investments) were determined using valuation techniques with observable inputs (Level 2). 2 The 2019 period includes $16.1b n (2018: nil ) of investments in highly liquid securities. |
Financial assets designated and
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | 12 Months Ended |
Dec. 31, 2019 | |
Financial Instruments [Abstract] | |
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | 14 Financial assets designated and otherwise mandatorily measured at fair value through profit or loss 2019 2018 Designated at fair value Mandatorily measured at fair value Total Designated at fair value Mandatorily measured at fair value Total $m $m $m $m $m $m Securities 2,344 35,808 38,152 2,349 30,217 32,566 – treasury and other eligible bills 630 31 661 641 29 670 – debt securities 1,714 4,838 6,552 1,708 4,839 6,547 – equity securities — 30,939 30,939 — 25,349 25,349 Loans and advances to banks and customers 1 4,555 4,556 — 7,717 7,717 Other — 919 919 — 828 828 At 31 Dec 2,345 41,282 43,627 2,349 38,762 41,111 Securities 1 2019 2018 Designated at fair value Mandatorily measured at fair value Total Designated at fair value Mandatorily measured at fair value Total Footnotes $m $m $m $m $m $m Hong Kong Government 4 — 4 4 — 4 Other governments 666 754 1,420 673 713 1,386 Asset-backed securities 2 — 363 363 — 399 399 Corporate debt and other securities 1,674 3,752 5,426 1,672 3,756 5,428 Equities — 30,939 30,939 — 25,349 25,349 At 31 Dec 2,344 35,808 38,152 2,349 30,217 32,566 1 Included within these figures are debt securities issued by banks and other financial institutions of $ 366 m ( 2018 re-presented: $ 676 m), of which nil ( 2018 : nil ) are guaranteed by various governments. 2 Excludes asset-backed securities included under US Treasury and US Government agencies. |
Derivatives
Derivatives | 12 Months Ended |
Dec. 31, 2019 | |
Financial Instruments [Abstract] | |
Derivatives | 15 Derivatives Notional contract amounts and fair values of derivatives by product contract type held by HSBC Notional contract amount Fair value – Assets Fair value – Liabilities Trading Hedging Trading Hedging Total Trading Hedging Total $m $m $m $m $m $m $m $m Foreign exchange 8,207,629 31,899 84,083 455 84,538 84,498 740 85,238 Interest rate 17,895,349 177,006 183,668 1,208 184,876 175,095 2,031 177,126 Equities 1,077,347 — 9,053 — 9,053 11,237 — 11,237 Credit 345,644 — 4,744 — 4,744 5,597 — 5,597 Commodity and other 93,245 — 1,523 — 1,523 2,038 — 2,038 Gross total fair values 27,619,214 208,905 283,071 1,663 284,734 278,465 2,771 281,236 Offset (Note 30) (41,739 ) (41,739 ) At 31 Dec 2019 27,619,214 208,905 283,071 1,663 242,995 278,465 2,771 239,497 Foreign exchange 7,552,462 29,969 85,959 458 86,417 82,494 653 83,147 Interest rate 24,589,916 163,271 155,293 1,080 156,373 154,257 2,261 156,518 Equities 1,256,550 — 10,198 — 10,198 10,750 — 10,750 Credit 346,596 — 3,414 — 3,414 3,776 — 3,776 Commodity and other 74,159 — 1,134 — 1,134 1,355 — 1,355 Gross total fair values 33,819,683 193,240 255,998 1,538 257,536 252,632 2,914 255,546 Offset (Note 30) (49,711 ) (49,711 ) At 31 Dec 2018 33,819,683 193,240 255,998 1,538 207,825 252,632 2,914 205,835 The notional contract amounts of derivatives held for trading purposes and derivatives designated in hedge accounting relationships indicate the nominal value of transactions outstanding at the balance sheet date. They do not represent amounts at risk. Derivative assets and liabilities increased during 2019, driven by yield curve movements and changes in foreign exchange rates. Notional contract amounts and fair values of derivatives by product contract type held by HSBC Holdings with subsidiaries Notional contract amount Assets Liabilities Trading Hedging Trading Hedging Total Trading Hedging Total $m $m $m $m $m $m $m $m Foreign exchange 24,980 — 161 — 161 766 — 766 Interest rate 48,937 36,769 435 1,406 1,841 1,072 183 1,255 At 31 Dec 2019 73,917 36,769 596 1,406 2,002 1,838 183 2,021 Foreign exchange 16,623 1,120 207 — 207 628 155 783 Interest rate 44,059 38,418 283 217 500 538 838 1,376 At 31 Dec 2018 60,682 39,538 490 217 707 1,166 993 2,159 Use of derivatives For details regarding the use of derivatives, see page 175 under ‘Market Risk’. Trading derivatives Most of HSBC’s derivative transactions relate to sales and trading activities. Sales activities include the structuring and marketing of derivative products to customers to enable them to take, transfer, modify or reduce current or expected risks. Trading activities include market-making and risk management. Market-making entails quoting bid and offer prices to other market participants for the purpose of generating revenue based on spread and volume. Risk management activity is undertaken to manage the risk arising from client transactions, with the principal purpose of retaining client margin. Other derivatives classified as held for trading include non-qualifying hedging derivatives. Substantially all of HSBC Holdings’ derivatives entered into with subsidiaries are managed in conjunction with financial liabilities designated at fair value. Derivatives valued using models with unobservable inputs The difference between the fair value at initial recognition (the transaction price) and the value that would have been derived had valuation techniques used for subsequent measurement been applied at initial recognition, less subsequent releases, is as shown in the following table: Unamortised balance of derivatives valued using models with significant unobservable inputs 2019 2018 Footnotes $m $m Unamortised balance at 1 Jan 86 106 Deferral on new transactions 145 161 Recognised in the income statement during the year: (154 ) (158 ) – amortisation (80 ) (96 ) – subsequent to unobservable inputs becoming observable (3 ) (2 ) – maturity, termination or offsetting derivative (71 ) (60 ) Exchange differences 1 (4 ) Other (5 ) (19 ) Unamortised balance at 31 Dec 1 73 86 1 This amount is yet to be recognised in the consolidated income statement. Hedge accounting derivatives HSBC applies hedge accounting to manage the following risks: interest rate, foreign exchange and net investment in foreign operations. Further details on how these risks arise and how they are managed by the Group can be found in the ‘Report of the Directors’. Fair value hedges HSBC enters into fixed-for-floating-interest-rate swaps to manage the exposure to changes in fair value caused by movements in market interest rates on certain fixed-rate financial instruments that are not measured at fair value through profit or loss, including debt securities held and issued. HSBC hedging instrument by hedged risk Hedging instrument Carrying amount Notional amount 1 Assets Liabilities Balance sheet presentation Change in fair value 2 Hedged risk $m $m $m $m Interest rate 3 122,753 1,056 2,208 Derivatives (1,531 ) At 31 Dec 2019 122,753 1,056 2,208 (1,531 ) Interest rate 3 123,551 915 2,123 Derivatives 283 At 31 Dec 2018 123,551 915 2,123 283 1 The notional contract amounts of derivatives designated in qualifying hedge accounting relationships indicate the nominal value of transactions outstanding at the balance sheet date. They do not represent amounts at risk. 2 Used in effectiveness testing; comprising the full fair value change of the hedging instrument not excluding any component. 3 The hedged risk ‘interest rate’ includes inflation risk. HSBC hedged item by hedged risk Hedged item Ineffectiveness Carrying amount Accumulated fair value hedge adjustments included in carrying amount 2 Change in fair value 1 Recognised in profit and loss Assets Liabilities Assets Liabilities Balance sheet presentation Profit and loss presentation Hedged risk $m $m $m $m $m $m Interest rate 3 90,617 1,859 Financial assets designated and otherwise mandatorily measured at fair value through other comprehensive income 2,304 (7 ) Net income from financial instruments held for trading or managed on a fair value basis 153 4 Loans and advances to banks 5 1,897 12 Loans and advances to customers 24 15,206 797 Debt securities in issue (1,011 ) 3,009 39 Deposits by banks 202 At 31 Dec 2019 92,667 18,215 1,875 836 1,524 (7 ) HSBC hedged item by hedged risk (continued) Hedged item Ineffectiveness Carrying amount Accumulated fair value hedge adjustments included in carrying amount 2 Change in fair value 1 Recognised in profit and loss Assets Liabilities Assets Liabilities Balance sheet presentation Profit and loss presentation Hedged risk $m $m $m $m $m $m Interest rate 3 93,469 231 Financial assets designated and otherwise mandatorily measured at fair value through other comprehensive income (425 ) (37 ) Net income from financial instruments held for trading or managed on a fair value basis 1,455 (6 ) Loans and advances to customers (4 ) 14,171 (155 ) Debt securities in issue 124 4,780 45 Deposits by banks (15 ) At 31 Dec 2018 94,924 18,951 225 (110 ) (320 ) (37 ) 1 Used in effectiveness testing; comprising amount attributable to the designated hedged risk that can be a risk component. 2 The accumulated amount of fair value adjustments remaining in the statement of financial position for hedged items that have ceased to be adjusted for hedging gains and losses were assets of $482m for FVOCI and assets of $2m for debt issued. 3 The hedged risk ‘interest rate’ includes inflation risk. HSBC Holdings hedging instrument by hedged risk Hedging instrument Carrying amount Notional amount 1,4 Assets Liabilities Balance sheet presentation Change in fair value 2 Hedged risk $m $m $m $m Interest rate 3 36,769 1,406 183 Derivatives 1,704 At 31 Dec 2019 36,769 1,406 183 1,704 1 The notional contract amounts of derivatives designated in qualifying hedge accounting relationships indicate the nominal value of transactions outstanding at the balance sheet date; they do not represent amounts at risk. 2 Used in effectiveness testing; comprising the full fair value change of the hedging instrument not excluding any component. 3 The hedged risk ‘interest rate’ includes foreign exchange risk. 4 The notional amount of non-dynamic fair value hedges is equal to $36,769m , of which the weighted-average maturity date is March 2027 and the weighted-average swap rate is 1.53% . The majority of these hedges are internal to HSBC Group. HSBC Holdings hedged item by hedged risk Hedged item Ineffectiveness Carrying amount Accumulated fair value hedge adjustments included in carrying amount 2 Change in fair value 1 Recognised in profit and loss Assets Liabilities Assets Liabilities Balance sheet presentation Profit and loss presentation Hedged risk $m $m $m $m $m $m Interest rate 3 38,126 1,088 Debt securities in issue (1,697 ) 7 Net income from financial instruments held for trading or managed on a fair value basis At 31 Dec 2019 — 38,126 — 1,088 (1,697 ) 7 1 Used in effectiveness testing; comprising amount attributable to the designated hedged risk that can be a risk component. 2 The accumulated amount of fair value adjustments remaining in the statement of financial position for hedged items that have ceased to be adjusted for hedging gains and losses were liabilities of $71m for debt issued. 3 The hedged risk ‘interest rate’ includes foreign exchange risk. Sources of hedge ineffectiveness may arise from basis risk, including but not limited to the discount rates used for calculating the fair value of derivatives, hedges using instruments with a non-zero fair value, and notional and timing differences between the hedged items and hedging instruments. For some debt securities held, HSBC manages interest rate risk in a dynamic risk management strategy. The assets in scope of this strategy are high-quality fixed-rate debt securities, which may be sold to meet liquidity and funding requirements. The interest rate risk of the HSBC fixed-rate debt securities issued is managed in a non-dynamic risk management strategy. Cash flow hedges HSBC’s cash flow hedging instruments consist principally of interest rate swaps and cross-currency swaps that are used to manage the variability in future interest cash flows of non-trading financial assets and liabilities, arising due to changes in market interest rates and foreign-currency basis. HSBC applies macro cash flow hedging for interest rate risk exposures on portfolios of replenishing current and forecasted issuances of non-trading assets and liabilities that bear interest at variable rates, including rolling such instruments. The amounts and timing of future cash flows, representing both principal and interest flows, are projected for each portfolio of financial assets and liabilities on the basis of their contractual terms and other relevant factors, including estimates of prepayments and defaults. The aggregate cash flows representing both principal balances and interest cash flows across all portfolios are used to determine the effectiveness and ineffectiveness. Macro cash flow hedges are considered to be dynamic hedges. HSBC also hedges the variability in future cash flows on foreign-denominated financial assets and liabilities arising due to changes in foreign exchange market rates with cross-currency swaps, which are considered dynamic hedges. Hedging instrument by hedged risk Hedging instrument Hedged item Ineffectiveness Carrying amount Change in fair value 2 Change in fair value 3 Recognised in profit and loss Profit and loss presentation Notional amount 1 Assets Liabilities Balance sheet presentation Hedged risk $m $m $m $m $m $m Foreign currency 21,385 455 254 Derivatives 341 341 — Net income from financial instruments held for trading or managed on a fair value basis Interest rate 54,253 152 46 Derivatives 195 193 2 At 31 Dec 2019 75,638 607 300 536 534 2 Foreign currency 24,954 295 653 Derivatives (198 ) (200 ) 2 Net income from financial instruments held for trading or managed on a fair value basis Interest rate 39,720 165 138 Derivatives (77 ) (67 ) (10 ) At 31 Dec 2018 64,674 460 791 (275 ) (267 ) (8 ) 1 The notional contract amounts of derivatives designated in qualifying hedge accounting relationships indicate the nominal value of transactions outstanding at the balance sheet date. They do not represent amounts at risk. 2 Used in effectiveness testing; comprising the full fair value change of the hedging instrument not excluding any component. 3 Used in effectiveness assessment; comprising amount attributable to the designated hedged risk that can be a risk component. Sources of hedge ineffectiveness may arise from basis risk, including but not limited to timing differences between the hedged items and hedging instruments and hedges using instruments with a non-zero fair value. Reconciliation of equity and analysis of other comprehensive income by risk type Interest rate Foreign currency $m $m Cash flow hedging reserve at 1 Jan 2019 (26 ) (182 ) Fair value gains/(losses) 193 341 Fair value (gains)/losses reclassified from the cash flow hedge reserve to the income statement in respect of: Hedged items that have affected profit or loss 99 (371 ) Income taxes (53 ) 4 Others (9 ) 3 Cash flow hedging reserve at 31 Dec 2019 204 (205 ) Cash flow hedging reserve at 1 Jan 2018 (40 ) (187 ) Fair value gains/(losses) (67 ) (200 ) Fair value (gains)/losses reclassified from the cash flow hedge reserve to the income statement in respect of: Hedged items that has affected profit or loss 90 227 Income taxes (11 ) (13 ) Others 2 (9 ) Cash flow hedging reserve at 31 Dec 2018 (26 ) (182 ) Hedges of net investments in foreign operations The Group applies hedge accounting in respect of certain consolidated net investments. Hedging is undertaken using forward foreign exchange contracts or by financing with foreign currency borrowings. At 31 December 2019 , the fair values of outstanding financial instruments designated as hedges of net investments in foreign operations were assets of nil ( 2018 : $163m ), liabilities of $485m ( 2018 : nil ) and notional contract values of $10,500m ( 2018 : $5,000m ). Ineffectiveness recognised in ‘Net income from financial instruments held for trading or managed on a fair value basis’ in the year ended 31 December 2019 was nil ( 2018 : nil ). Interest rate benchmark reform: Amendments to IFRS 9 and IAS 39 ‘Financial Instruments’ Following the request received by the Financial Stability Board from the G20, a fundamental review and reform of the major interest rate benchmarks is underway across the world's largest financial markets. This reform was not contemplated when IAS 39 was published, and consequently the IASB has published a set of temporary exceptions from applying specific hedge accounting requirements to provide clarification on how the standard should be applied in these circumstances. Amendments to IFRS 9 and IAS 39 were endorsed in January 2020 and modify specific hedge accounting requirements. Under these temporary exceptions, interbank offered rates (‘Ibors’) are assumed to continue unaltered for the purposes of hedge accounting until such time as the uncertainty is resolved. The application of this set of temporary exceptions is mandatory for accounting periods starting on or after 1 January 2020, but early adoption is permitted. HSBC elected to apply these exceptions for the year ended 31 December 2019. Significant judgement will be required in determining when uncertainty is expected to be resolved and therefore when the temporary exceptions will cease to apply. However, at 31 December 2019, the uncertainty continued to exist and so the temporary exceptions apply to all of the Group’s hedge accounting relationships that reference benchmarks subject to reform or replacement. The Group has cash flow and fair value hedge accounting relationships that are exposed to different Ibors, predominantly US dollar Libor, sterling Libor, and Euribor as well as overnight rates subject to the market-wide benchmarks reform, such as the European overnight Index Average rate (‘Eonia’). Many of the existing derivatives, loans, bonds and other financial instruments designated in relationships referencing these benchmarks will transition to new risk-free rates (‘RFRs’) in different ways and at different times. External progress on the transition to RFRs is being monitored, with the objective of ensuring a smooth transition for the Group’s hedge accounting relationships. The specific issues arising will vary with the details of each hedging relationship, but may arise due to the transition of existing products included in the designation, a change in expected volumes of products to be issued, a change in contractual terms of new products issued, or a combination of these factors. Some hedges may need to be de-designated and new relationships entered into, while others may survive the market-wide benchmarks reform. The hedge accounting relationships that are affected by the adoption of the temporary exceptions hedge items presented in the balance sheet as ‘Financial assets designated and otherwise mandatorily measured at fair value through other comprehensive income’, ‘Loans and advances to customers’, ‘Debt securities in issue’ and ‘Deposits by banks’. The notional amounts of interest rate derivatives designated in hedge accounting relationships represent the extent of the risk exposure managed by the Group that is directly affected by market-wide benchmarks reform and impacted by the temporary exceptions. The cross-currency swaps designated in hedge accounting relationships and affected by Ibor reform are not significant and have not been presented below : Hedging instrument impacted by Ibor reform Hedging instrument Impacted by Ibor reform Not impacted by Ibor reform Notional amount 1 € £ $ Other Total $m $m $m $m $m $m $m Fair value hedges 20,378 4,533 41,274 13,435 79,620 43,133 122,753 Cash flow hedges 5,724 6,594 15,750 15,979 44,047 10,206 54,253 At 31 Dec 2019 26,102 11,127 57,024 29,414 123,667 53,339 177,006 1 The notional contract amounts of interest rate derivatives designated in qualifying hedge accounting relationships indicate the nominal value of transactions outstanding at the balance sheet date; they do not represent amounts at risk. The calculation of Eonia changed on 2 October 2019 so that going forward it is calculated as the euro short-term rate (‘€STR’) plus a fixed spread of 8.5 basis points. This change has triggered a structural change in the sale and repurchase agreement (‘repo’) market in France, whereby the overnight floating rate repo market referencing Eonia has significantly shifted into an overnight fixed rate repo market referencing repo rates. In this context, regarding the accounting standard setters’ activities, management consider that continuing to apply hedge accounting to the existing hedge relationships using forecast issuances of overnight repos, provides the most relevant accounting. For further information on Ibor transition, see our Areas of Special interest on page 116 . Hedging instrument impacted by Ibor reform held by HSBC Holdings Hedging instrument Impacted by Ibor reform Not impacted by Ibor reform Notional amount € £ $ Other Total $m $m $m $m $m $m $m Fair value hedges 3,928 5,222 24,500 3,119 36,769 — 36,769 Cash flow hedges — — — — — — — At 31 Dec 2019 3,928 5,222 24,500 3,119 36,769 — 36,769 |
Financial Investments
Financial Investments | 12 Months Ended |
Dec. 31, 2019 | |
Financial Instruments [Abstract] | |
Disclosure of financial instruments | 16 Financial investments Carrying amount of financial investments 2019 2018 Footnotes $m $m Financial investments measured at fair value through other comprehensive income 357,577 344,767 – treasury and other eligible bills 95,043 96,642 – debt securities 260,536 246,371 – equity securities 1,913 1,657 – other instruments 1 85 97 Debt instruments measured at amortised cost 2 85,735 62,666 – treasury and other eligible bills 10,476 679 – debt securities 75,259 61,987 At 31 Dec 443,312 407,433 1 ‘Other instruments’ comprises of loans and advances. 2 Fair value $89.1 bn ( 2018 : $62.1 bn). Equity instruments measured at fair value through other comprehensive income Fair value Dividends recognised Type of equity instruments $m $m Investments required by central institutions 738 22 Business facilitation 1,124 19 Others 51 9 At 31 Dec 2019 1,913 50 Investments required by central institutions 848 34 Business facilitation 758 21 Others 51 9 At 31 Dec 2018 1,657 64 Financial investments at amortised cost and fair value 2019 2018 Amortised cost Fair value 1 Amortised cost Fair value 1 Footnotes $m $m $m $m US Treasury 79,633 80,589 54,941 54,763 US Government agencies 2 26,356 26,387 21,058 20,580 US Government-sponsored entities 2 8,070 8,259 12,867 12,701 UK Government 28,621 28,973 20,576 21,083 Hong Kong Government 47,824 47,820 49,956 49,955 Other governments 140,510 142,511 142,495 144,099 Asset-backed securities 3 2,954 2,889 3,579 3,390 Corporate debt and other securities 101,750 107,364 97,286 98,419 Equities 1,241 1,913 1,353 1,657 At 31 Dec 436,959 446,705 404,111 406,647 1 Included within ‘fair value’ figures are debt securities issued by banks and other financial institutions of $ 61 bn ( 2018 : $56 bn), of which $ 11 bn ( 2018 : $8 bn) are guaranteed by various governments. 2 Includes securities that are supported by an explicit guarantee issued by the US Government. 3 Excludes asset-backed securities included under US Government agencies and sponsored entities. Maturities of investments in debt securities at their carrying amount Up to 1 year 1 to 5 years 5 to 10 years Over 10 years Total $m $m $m $m $m Debt securities measured at fair value through other comprehensive income 61,833 123,740 42,831 32,132 260,536 Debt securities measured at amortised cost 5,472 14,395 21,431 33,961 75,259 At 31 Dec 2019 67,305 138,135 64,262 66,093 335,795 Debt securities measured at fair value through other comprehensive income 61,598 124,075 36,194 24,504 246,371 Debt securities measured at amortised cost 2,519 10,086 16,065 33,317 61,987 At 31 Dec 2018 64,117 134,161 52,259 57,821 308,358 Contractual maturities and weighted average yields of investment debt securities Up to 1 year 1 to 5 years 5 to 10 years Over 10 years Amount Yield Amount Yield Amount Yield Amount Yield $m % $m % $m % $m % Debt securities measured at fair value through other comprehensive income US Treasury 6,322 2.1 26,834 2.0 18,208 2.0 3,268 2.9 US Government agencies — — 79 2.2 1 4.7 15,581 2.6 US Government-sponsored agencies 725 2.8 167 3.1 1,940 2.8 2,191 3.0 UK Government 4,681 1.3 4,393 1.1 4,443 0.2 2,811 2.8 Hong Kong Government 559 1.3 145 1.8 152 3.2 — — Other governments 39,144 2.3 54,689 2.8 11,478 1.7 1,862 3.6 Asset-backed securities 18 2.7 1 0.5 325 3.1 2,610 2.2 Corporate debt and other securities 9,735 2.0 34,921 1.8 4,879 2.2 2,795 3.4 Total amortised cost at 31 Dec 2019 61,184 121,229 41,426 31,118 Total carrying value 61,833 123,740 42,831 32,132 Debt securities measured at amortised cost US Treasury 3,010 1.9 4,879 1.8 2,931 1.9 141 4.2 US Government agencies — — 13 3.8 19 3.5 10,286 2.6 US Government-sponsored agencies — — 482 2.7 551 2.3 2,015 3.2 Hong Kong Government 10 1.6 20 1.6 9 1.4 — — Other governments 128 4.4 552 3.4 487 3.1 832 4.2 Asset-backed securities — — — — — — 2 7.5 Corporate debt and other securities 2,324 3.5 8,449 3.4 17,434 3.3 20,685 3.8 Total amortised cost at 31 Dec 2019 5,472 14,395 21,431 33,961 Total carrying value 5,472 14,395 21,431 33,961 The maturity distributions of ABSs are presented in the above table on the basis of contractual maturity dates. The weighted average yield for each range of maturities is calculated by dividing the annualised interest income for the year ended 31 December 2019 by the book amount of debt securities at that date. The yields do not include the effect of related derivatives. HSBC Holdings HSBC Holdings carrying amount of financial investments 2019 2018 Footnotes $m $m Debt instruments measured at amortised cost 1 – treasury and other eligible bills 10,081 — – debt securities 6,025 — At 31 Dec 16,106 — 1 The 2019 period includes $ 16.1b n (2018: nil ) of investments in highly liquid securities. Financial investments at amortised cost and fair value 2019 2018 Amortised cost Fair value Amortised cost Fair value $m $m $m $m US Treasury 16,106 16,121 — — US Government agencies — — — — US Government-sponsored entities — — — — At 31 Dec 16,106 16,121 — — Maturities of investments in debt securities at their carrying amount Up to 1 year 1 to 5 years 5 to 10 years Over 10 years Total $m $m $m $m $m Debt securities measured at amortised cost 3,010 3,015 — — 6,025 At 31 Dec 2019 3,010 3,015 — — 6,025 Debt securities measured at amortised cost — — — — — At 31 Dec 2018 — — — — — Contractual maturities and weighted average yields of investment debt securities Up to 1 year 1 to 5 years 5 to 10 years Over 10 years Amount Yield Amount Yield Amount Yield Amount Yield $m % $m % $m % $m % Debt securities measured at amortised cost US Treasury 3,010 1.9 3,015 1.7 — — — — US Government agencies — — — — — — — — US Government-sponsored agencies — — — — — — — — Total amortised cost at 31 Dec 2019 3,010 3,015 — — Total carrying value 3,010 3,015 — — The weighted average yield for each range of maturities is calculated by dividing the annualised interest income for the year ended 31 December 2019 by the book amount of debt securities at that date. The yields do not include the effect of related derivatives. 24 Financial liabilities designated at fair value HSBC 2019 2018 Footnotes $m $m Deposits by banks and customer accounts 1 17,660 19,003 Liabilities to customers under investment contracts 5,893 5,458 Debt securities in issue (Note 25) 130,364 109,351 Subordinated liabilities (Note 28) 10,130 14,282 Preferred securities (Note 28) 419 411 At 31 Dec 164,466 148,505 1 Structured deposits placed at HSBC Bank USA and HSBC Trust Company (Delaware) National Association are insured by the Federal Deposit Insurance Corporation, a US government agency, up to $250,000 per depositor. The carrying amount of financial liabilities designated at fair value was $6,120 m more than the contractual amount at maturity ( 2018 : $11,496 m less). The cumulative amount of change in fair value attributable to changes in credit risk was a loss of $2,877 m ( 2018 : loss of $209 m). HSBC Holdings 2019 2018 $m $m Debt securities in issue (Note 25) 24,687 17,767 Subordinated liabilities (Note 28) 5,616 7,282 At 31 Dec 30,303 25,049 The carrying amount of financial liabilities designated at fair value was $ 2,227m more than the contractual amount at maturity 920m more). The cumulative amount of change in fair value attributable to changes in credit risk was a loss of $ 1,386m (2018: loss of $812m ). 29 Maturity analysis of assets, liabilities and off-balance sheet commitments The table on page 330 provides an analysis of consolidated total assets, liabilities and off-balance sheet commitments by residual contractual maturity at the balance sheet date. These balances are included in the maturity analysis as follows: • Trading assets and liabilities (including trading derivatives but excluding reverse repos, repos and debt securities in issue) are included in the ‘Due not more than 1 month’ time bucket, because trading balances are typically held for short periods of time. • Financial assets and liabilities with no contractual maturity (such as equity securities) are included in the ‘Due over 5 years’ time bucket. Undated or perpetual instruments are classified based on the contractual notice period, which the counterparty of the instrument is entitled to give. Where there is no contractual notice period, undated or perpetual contracts are included in the ‘Due over 5 years’ time bucket. • Non-financial assets and liabilities with no contractual maturity are included in the ‘Due over 5 years’ time bucket. • Financial instruments included within assets and liabilities of disposal groups held for sale are classified on the basis of the contractual maturity of the underlying instruments and not on the basis of the disposal transaction. • Liabilities under insurance contracts are included in the ‘Due over 5 years’ time bucket. Liabilities under investment contracts are classified in accordance with their contractual maturity. Undated investment contracts are included in the ‘Due over 5 years’ time bucket, although such contracts are subject to surrender and transfer options by the policyholders. • Loan and other credit-related commitments are classified on the basis of the earliest date they can be drawn down. HSBC Maturity analysis of assets, liabilities and off-balance sheet commitments Due not Due over Due over Due over Due over Due over Due over Due over Total $m $m $m $m $m $m $m $m $m Financial assets Cash and balances at central banks 154,099 — — — — — — — 154,099 Items in the course of collection from other banks 4,956 — — — — — — — 4,956 Hong Kong Government certificates of indebtedness 38,380 — — — — — — — 38,380 Trading assets 252,009 644 412 62 452 152 540 — 254,271 Financial assets designated or otherwise mandatorily measured at fair value 4,846 74 381 200 422 780 2,356 34,568 43,627 Derivatives 241,941 150 24 27 22 112 294 425 242,995 Loans and advances to banks 41,554 7,826 4,877 2,592 2,859 6,848 2,005 642 69,203 Loans and advances to customers 190,675 82,379 61,254 36,005 36,755 106,203 227,811 295,661 1,036,743 – personal 51,893 14,547 8,562 7,245 6,931 22,923 66,761 252,275 431,137 – corporate and commercial 118,585 61,629 45,924 25,006 25,069 71,751 147,139 39,958 535,061 – financial 20,197 6,203 6,768 3,754 4,755 11,529 13,911 3,428 70,545 Reverse repurchase agreements 164,741 38,997 17,933 8,226 6,305 2,298 2,362 — 240,862 Financial investments 36,128 64,472 35,795 17,485 18,202 48,427 90,193 132,610 443,312 Accrued income and other financial assets 80,661 5,544 2,532 915 495 432 363 2,037 92,979 Financial assets at 31 Dec 2019 1,209,990 200,086 123,208 65,512 65,512 165,252 325,924 465,943 2,621,427 Non-financial assets — — — — — — — 93,725 93,725 Total assets at 31 Dec 2019 1,209,990 200,086 123,208 65,512 65,512 165,252 325,924 559,668 2,715,152 Off-balance sheet commitments received Loan and other credit-related commitments 63,199 — — — — — — — 63,199 Financial liabilities Hong Kong currency notes in circulation 38,380 — — — — — — — 38,380 Deposits by banks 46,397 4,167 2,773 454 844 2,455 876 1,056 59,022 Customer accounts 1 1,287,358 81,038 38,343 11,530 11,342 5,275 4,075 154 1,439,115 – personal 646,843 49,405 29,320 8,484 6,852 3,631 2,646 71 747,252 – corporate and commercial 479,763 24,214 7,162 2,621 3,009 1,119 1,388 41 519,317 – financial 160,752 7,419 1,861 425 1,481 525 41 42 172,546 Repurchase agreements 132,042 3,402 1,579 1,882 59 354 2 1,024 140,344 Items in the course of transmission to other banks 4,817 — — — — — — — 4,817 Trading liabilities 82,130 209 265 148 102 287 29 — 83,170 Financial liabilities designated at 12,844 4,667 4,236 4,552 5,196 26,081 43,534 63,356 164,466 – debt securities in issue: covered bonds — — — — 1,139 — 2,663 1,159 4,961 – debt securities in issue: unsecured 8,884 2,046 2,946 3,757 3,030 22,950 34,753 47,036 125,402 – subordinated liabilities and preferred securities 23 — — — — — 2,131 8,396 10,550 – other 3,937 2,621 1,290 795 1,027 3,131 3,987 6,765 23,553 Derivatives 237,901 105 73 10 18 68 540 782 239,497 Debt securities in issue 8,183 17,374 12,799 13,152 11,382 14,572 20,048 7,045 104,555 – covered bonds — — — — — 749 998 — 1,747 – otherwise secured 2,015 2 248 161 — 219 958 1,663 5,266 – unsecured 6,168 17,372 12,551 12,991 11,382 13,604 18,092 5,382 97,542 Accruals and other financial liabilities 87,796 9,078 3,914 1,244 2,058 1,592 2,823 2,890 111,395 Subordinated liabilities 1,502 — 22 1,993 100 755 424 19,804 24,600 Total financial liabilities at 31 Dec 2019 1,939,350 120,040 64,004 34,965 31,101 51,439 72,351 96,111 2,409,361 Non-financial liabilities — — — — — — — 113,123 113,123 Total liabilities at 31 Dec 2019 1,939,350 120,040 64,004 34,965 31,101 51,439 72,351 209,234 2,522,484 Off-balance sheet commitments given Loan and other credit-related commitments 794,336 600 590 313 551 442 458 318 797,608 – personal 221,952 40 39 56 167 208 392 299 223,153 – corporate and commercial 460,569 117 96 52 381 218 66 19 461,518 – financial 111,815 443 455 205 3 16 — — 112,937 Maturity analysis of assets, liabilities and off-balance sheet commitments (continued) Due not more than 1 month Due over 1 month but not more than 3 months Due over 3 months but not more than 6 months Due over 6 months but not more than 9 months Due over 9 months but not more than 1 year Due over 1 year but not more than 2 years Due over 2 years but not more than 5 years Due over 5 years Total $m $m $m $m $m $m $m $m $m Financial assets Cash and balances at central banks 162,843 — — — — — — — 162,843 Items in the course of collection from other banks 5,787 — — — — — — — 5,787 Hong Kong Government certificates of indebtedness 35,859 — — — — — — — 35,859 Trading assets 235,443 264 707 744 104 197 671 — 238,130 Financial assets designated at fair value 7,743 49 371 145 334 918 2,415 29,136 41,111 Derivatives 206,925 15 57 79 18 69 328 334 207,825 Loans and advances to banks 40,114 10,421 3,486 2,004 3,282 7,158 4,508 1,194 72,167 Loans and advances to customers 178,613 72,072 58,680 38,394 37,333 101,267 219,841 275,496 981,696 – personal 41,967 8,736 8,237 7,581 7,240 24,942 63,061 229,626 391,390 – corporate and commercial 118,294 58,623 45,918 27,001 25,597 67,093 143,959 42,540 529,025 – financial 18,352 4,713 4,525 3,812 4,496 9,232 12,821 3,330 61,281 Reverse repurchase agreements – non-trading 172,795 41,084 13,308 5,763 3,574 5,253 1,027 — 242,804 Financial investments 40,421 58,731 30,464 15,707 15,357 41,866 92,846 112,041 407,433 Accrued income and other financial assets 62,067 6,893 2,403 561 307 349 731 2,237 75,548 Financial assets at 31 Dec 2018 1,148,610 189,529 109,476 63,397 60,309 157,077 322,367 420,438 2,471,203 Non-financial assets — — — — — — — 86,921 86,921 Total assets at 31 Dec 2018 1,148,610 189,529 109,476 63,397 60,309 157,077 322,367 507,359 2,558,124 Off-balance sheet commitments received Loan and other credit-related commitments 73,464 — — — 1 3 98 656 74,222 Financial liabilities Hong Kong currency notes in circulation 35,859 — — — — — — — 35,859 Deposits by banks 42,406 3,457 1,043 784 542 5,558 1,655 886 56,331 Customer accounts 1 1,225,919 66,990 31,315 17,218 13,760 4,122 3,194 125 1,362,643 – personal 612,325 38,132 21,218 11,483 8,282 2,853 2,623 53 696,969 – corporate and commercial 457,661 22,922 8,029 4,599 4,317 1,092 509 29 499,158 – financial 155,933 5,936 2,068 1,136 1,161 177 62 43 166,516 Repurchase agreements – non-trading 154,383 8,140 1,750 629 73 408 501 — 165,884 Items in the course of transmission to other banks 5,641 — — — — — — — 5,641 Trading liabilities 82,867 251 326 633 81 235 36 2 84,431 Financial liabilities designated at fair value 3,813 4,476 6,878 3,076 3,481 12,545 53,615 60,621 148,505 – debt securities in issue: covered bonds — — 205 — — 1,190 2,721 1,137 5,253 – debt securities in issue: unsecured 981 1,562 2,659 2,290 2,353 9,143 47,443 37,633 104,064 – subordinated liabilities and preferred securities — — 2,125 — — — — 12,568 14,693 – other 2,832 2,914 1,889 786 1,128 2,212 3,451 9,283 24,495 Derivatives 203,962 62 135 191 144 560 159 622 205,835 Debt securities in issue 6,777 11,194 12,556 8,075 3,330 10,670 19,713 13,027 85,342 – covered bonds — — — — — — 748 — 748 – otherwise secured 2,166 1,100 30 — — 394 944 1,412 6,046 – unsecured 4,611 10,094 12,526 8,075 3,330 10,276 18,021 11,615 78,548 Accruals and other financial liabilities 69,958 8,986 3,296 659 1,269 885 1,027 1,300 87,380 Subordinated liabilities 6 89 3 — — 1,996 1,384 18,959 22,437 Total financial liabilities at 31 Dec 2018 1,831,591 103,645 57,302 31,265 22,680 36,979 81,284 95,542 2,260,288 Non-financial liabilities — — — — — — — 103,587 103,587 Total liabilities at 31 Dec 2018 1,831,591 103,645 57,302 31,265 22,680 36,979 81,284 199,129 2,363,875 Off-balance sheet commitments given Loan and other credit-related commitments 769,311 5,281 941 1,972 1,257 361 731 412 780,266 – personal 203,622 974 59 32 201 280 556 331 206,055 – corporate and commercial 441,199 2,694 799 1,895 974 34 150 73 447,818 – financial 124,490 1,613 83 45 82 47 25 8 126,393 1 ‘Customer accounts’ includes $ 408,090m (2018: $364,729m ) insured by guarantee schemes. HSBC Holdings Maturity analysis of assets, liabilities and off-balance sheet commitments (continued) Due not more than 1 month Due over 1 month but not more than 3 months Due over 3 months but not more than 6 months Due over 6 months but not more than 9 months Due over 9 months but not more than 1 year Due over 1 year but not more than 2 years Due over 2 years but not more than 5 years Due over 5 years Total $m $m $m $m $m $m $m $m $m Financial assets Cash at bank and in hand: – balances with HSBC undertakings 2,382 — — — — — — — 2,382 Derivatives 596 — — — — — 230 1,176 2,002 Loans and advances to HSBC undertakings 102 672 120 25 — 600 1,909 6,790 10,218 Financial assets with HSBC undertakings designated and otherwise mandatorily measured at fair value — — — — — 458 24,845 36,661 61,964 Financial investments 2,754 3,493 1,873 2,251 2,721 3,014 — — 16,106 Accrued income and other financial assets 93 277 97 48 16 12 — — 543 Total financial assets at 5,927 4,442 2,090 2,324 2,737 4,084 26,984 44,627 93,215 Non-financial assets — — — — — — — 162,025 162,025 Total assets at 31 Dec 2019 5,927 4,442 2,090 2,324 2,737 4,084 26,984 206,652 255,240 Financial liabilities Amounts owed to HSBC undertakings — 464 — — — — — — 464 Financial liabilities designated at fair value — — — — — 5,651 6,710 17,942 30,303 – debt securities in issue — — — — — 5,651 6,710 12,326 24,687 – subordinated liabilities and preferred securities — — — — — — — 5,616 5,616 Derivatives 1,838 — — — — 20 85 78 2,021 Debt securities in issue — — — — — 10,134 23,786 22,924 56,844 Accruals and other financial liabilities 900 574 303 55 10 — — 35 1,877 Subordinated liabilities 1,503 — — — — — 2,076 14,782 18,361 31 Dec 2019 4,241 1,038 303 55 10 15,805 32,657 55,761 109,870 Non-financial liabilities — — — — — — — 326 326 Total liabilities at 31 Dec 2019 4,241 1,038 303 55 10 15,805 32,657 56,087 110,196 Off-balance sheet commitments given Undrawn formal standby facilities, credit lines and other commitments to lend — — — — — — — — — Maturity analysis of assets, liabilities and off-balance sheet commitments (continued) Due not more than 1 month Due over 1 month but not more than 3 months Due over 3 months but not more than 6 months Due over 6 months but not more than 9 months Due over 9 months but not more than 1 year Due over 1 year but not more than 2 years Due over 2 years but not more than 5 years Due over 5 years Total $m $m $m $m $m $m $m $m $m Financial assets Cash at bank and in hand: – balances with HSBC undertakings 3,509 — — — — — — — 3,509 Derivatives 540 — — — — — — 167 707 Loans and advances to HSBC undertakings 3,052 11,563 158 968 1 — 14,062 26,340 56,144 Loans and advances to HSBC undertakings designated at fair value — — — — — — 8,116 15,397 23,513 Financial investments in HSBC undertakings — — — — — — — — — Accrued income and other financial assets 33 27 — — — — — 60 Total financial assets at 31 Dec 2018 7,134 11,590 158 968 1 — 22,178 41,904 83,933 Non-financial assets — — — — — — — 161,248 161,248 Total assets at 31 Dec 2018 7,134 11,590 158 968 1 — 22,178 203,152 245,181 Financial liabilities Amounts owed to HSBC undertakings — 949 — — — — — — 949 Financial liabilities designated at fair value — — 2,125 — — — 12,306 10,618 25,049 – debt securities in issue — — — — — — 12,306 5,461 17,767 – subordinated liabilities and preferred securities — — 2,125 — — — — 5,157 7,282 Derivatives 1,321 — — — — — 339 499 2,159 Debt securities in issue — — — — — — 23,770 27,030 50,800 Accruals and other financial liabilities 319 353 188 36 5 — — 41 942 Subordinated liabilities — — — — — — — 17,715 17,715 Total financial liabilities at 31 Dec 2018 1,640 1,302 2,313 36 5 — 36,415 55,903 97,614 Non-financial liabilities — — — — — — — 214 214 Total liabilities at 31 Dec 2018 1,640 1,302 2,313 36 5 — 36,415 56,117 97,828 Off-balance sheet commitments given Undrawn formal standby facilities, credit lines and other commitments to lend — — — — — — — — — Contractual maturity of financial liabilities The following table shows, on an undiscounted basis, all cash flows relating to principal and future coupon payments (except for trading liabilities and derivatives not treated as hedging derivatives). For this reason, balances in the following table do not agree directly with those in our consolidated balance sheet. Undiscounted cash flows payable in relation to hedging derivative liabilities are classified according to their contractual maturities. Trading liabilities and derivatives not treated as hedging derivatives are included in the ‘Due not more than 1 month’ time bucket and not by contractual maturity. In addition, loans and other credit-related commitments and financial guarantees are generally not recognised on our balance sheet. The undiscounted cash flows potentially payable under loan and other credit-related commitments and financial guarantees are classified on the basis of the earliest date they can be called. Cash flows payable by HSBC under financial liabilities by remaining contractual maturities Due not more than 1 month Due over 1 month but not more than 3 months Due over 3 months but not more than 1 year Due over 1 year but not more than 5 years Due over Total $m $m $m $m $m $m Deposits by banks 46,471 4,167 4,227 3,371 1,084 59,320 Customer accounts 1,288,577 81,037 62,105 9,900 191 1,441,810 Repurchase agreements – non-trading 132,156 3,403 3,565 368 1,036 140,528 Trading liabilities 83,170 — — — — 83,170 Financial liabilities designated at fair value 13,447 4,666 14,747 76,155 68,045 177,060 Derivatives 237,897 105 522 1,076 1,691 241,291 Debt securities in issue 8,757 17,374 38,423 36,584 8,177 109,315 Subordinated liabilities 1,847 — 2,908 5,197 27,892 37,844 Other financial liabilities 127,898 9,079 6,792 5,637 2,992 152,398 1,940,220 119,831 133,289 138,288 111,108 2,442,736 Loan and other credit-related commitments 795,243 601 561 886 317 797,608 Financial guarantees 1 20,007 37 102 68 — 20,214 At 31 Dec 2019 2,755,470 120,469 133,952 139,242 111,425 3,260,558 Proportion of cash flows payable in period 85% 4% 4% 4% 3% Deposits by banks 42,569 3,457 2,419 7,507 556 56,508 Customer accounts 1,226,828 66,990 62,963 7,617 130 1,364,528 Repurchase agreements – non-trading 154,541 8,140 2,487 950 — 166,118 Trading liabilities 84,431 — — — — 84,431 Financial liabilities designated at fair value 4,478 4,476 15,591 75,578 89,261 189,384 Derivatives 204,360 62 927 2,065 1,323 208,737 Debt securities in issue 7,295 11,194 24,902 36,599 13,656 93,646 Subordinated liabilities 349 89 793 7,600 27,670 36,501 Other financial liabilities 110,337 8,987 4,694 2,367 1,260 127,645 1,835,188 103,395 114,776 140,283 133,856 2,327,498 Loan and other credit-related commitments 772,557 5,279 1,109 944 377 780,266 Financial guarantees 1 22,942 113 289 160 14 23,518 At 31 Dec 2018 2,630,687 108,787 116,174 141,387 134,247 3,131,282 Proportion of cash flows payable in period 84% 3% 4% 5% 4% 1 Excludes performance guarantee contracts to which the impairment requirements in IFRS 9 are not applied. HSBC Holdings HSBC Holdings’ primary sources of liquidity are dividends received from subsidiaries, interest on and repayment of intra-Group loans and securities, and interest earned on its own liquid funds. HSBC Holdings also raises funds in the debt capital markets to meet the Group’s minimum requirement for own funds and eligible liabilities. HSBC Holdings uses this liquidity to meet its obligations, including interest and principal repayments on external debt liabilities, operating expenses and collateral on derivative transactions. HSBC Holdings is also subject to contingent liquidity risk by virtue of credit-related commitments and guarantees and similar contracts issued relating to its subsidiaries. Such commitments and guarantees are only issued after due consideration of HSBC Holdings’ ability to finance the commitments and guarantees and the likelihood of the need arising. HSBC Holdings actively manages the cash flows from its subsidiaries to optimise the amount of cash held at the holding company level. During 2019, consistent with the Group’s capital plan, the Group’s subsidiaries did not experience any significant restrictions on paying dividends or repaying loans and advances. Also, there are no foreseen restrictions envisaged with regard to planned dividends or payments. However, the ability of subsidiaries to pay dividends or advance monies to HSBC Holdings depends on, among other things, their respective local regulatory capital and banking requirements, exchange controls, statutory reserves, and financial and operating performance. HSBC Holdings currently has sufficient liquidity to meet its present requirements. Liquidity risk in HSBC Holdings is overseen by Holdings ALCO. This risk arises because of HSBC Holdings’ obligation to make payments to debt holders as they fall due and to pay its operating expenses. The liquidity risk related to these cash flows is managed by matching external debt obligations with internal loan cash flows and by maintaining an appropriate liquidity buffer that is monitored by Holdings ALCO. The balances in the following table are not directly comparable with those on the balance sheet of HSBC Holdings as the table incorporates, on an undiscounted basis, all cash flows relating to principal and future coupon payments (except for derivatives not treated as hedging derivatives). Undiscounted cash flows payable in relation to hedging derivative liabilities are classified according to their contractual maturities. Derivatives not treated as hedging derivatives are included in the ‘On demand’ time bucket. In addition, loan commitments and financial guarantees and similar contracts are generally not recognised on our balance sheet. The undiscounted cash flows potentially payable under financial guarantees and similar contracts are classified on the basis of the earliest date on which they can be called. Cash flows payable by HSBC Holdings under financial liabilities by remaining contractual maturities Due not more than 1 month Due over 1 month but not more than 3 months Due over 3 months but not more than 1 year Due over 1 year but not more than 5 years Due over Total Footnotes $m $m $m $m $m $m Amounts owed to HSBC undertakings — 464 — — — 464 Financial liabilities designated at fair value 88 168 784 14,776 18,184 34,000 Derivatives 1,838 — — 105 78 2,021 Debt securities in issue 128 244 1,137 38,690 25,310 65,509 Subordinated liabilities 1,588 154 718 5,743 21,533 29,736 Other financial liabilities 956 519 365 — — 1,840 4,598 1,549 3,004 59,314 65,105 133,570 Loan commitments — — — — — — Financial guarantees 1 11,061 — — — — 11,061 At 31 Dec 2019 15,659 1,549 3,004 59,314 65,105 144,631 Amounts owed to HSBC undertakings — 949 — — — 949 Financial liabilities designated at fair value — 237 2,656 14,384 11,653 28,930 Derivatives 1,321 — — 339 499 2,159 Debt securities in issue — 379 1,159 29,178 30,801 61,517 Subordinated liabilities — 248 757 4,019 25,311 30,335 Other financial liabilities — 675 228 — — 903 1,321 2,488 4,800 47,920 68,264 124,793 Loan commitments — — — — — — Financial guarantees 1 8,627 — — — — 8,627 At 31 Dec 2018 9,948 2,488 4,800 47,920 68,264 133,420 1 Excludes performance guarantee contracts to which the impairment requirements in IFRS 9 are not applied. 30 Offsetting of financial assets and financial liabilities In the following table, the ‘Amounts not set off in the balance sheet’ include transactions where: • the counterparty has an offsetting exposure with HSBC and a master netting or similar arrangement is in place with a right to set off only in the event of default, insolvency or bankruptcy, or the offset criteria are otherwise not satisfied; and • in the case of derivatives and reverse repurchase/repurchase, stock borrowing/lending and similar agreements, cash and non-cash collateral has been received/pledged. For risk management purposes, the net amounts of loans and advances to customers are subject to limits, which are monitored and the relevant customer agreements are subject to review and updated, as necessary, to ensure the legal right to set off remains appropriate. Offsetting of financial assets and financial liabilities Amounts subject to enforceable netting arrangements Amounts not subject to enforceable netting arrangements 5 Total Amounts not set off in the balance sheet Gross amounts Amounts offset Net amounts in the balance sheet Financial instruments Non-cash collateral Cash collateral Net amount Footnotes $m $m $m $m $m $m $m $m $m Financial assets Derivatives (Note 15) 1 277,261 (41,739 ) 235,522 (171,371 ) (13,095 ) (47,404 ) 3,652 7,473 242,995 Reverse repos, stock borrowing and similar agreements classified as: 2 – trading assets 21,465 (280 ) 21,185 (1,553 ) (19,630 ) — 2 165 21,350 – non-trading assets 348,561 (134,772 ) 213,789 (28,826 ) (184,495 ) (189 ) 279 27,549 241,338 Loans and advances to customers 3 33,039 (10,128 ) 22,911 (18,893 ) — — 4,018 735 23,646 At 31 Dec 2019 680,326 (186,919 ) 493,407 (220,643 ) (217,220 ) (47,593 ) 7,951 35,922 529,329 Derivatives (Note 15) 1 250,275 (49,711 ) 200,564 (145,785 ) (9,986 ) (38,031 ) 6,762 7,261 207,825 Reverse repos, stock borrowing and similar agreements classified as: 2 – trading assets 18,217 (790 ) 17,427 (1,244 ) (16,179 ) — 4 853 18,280 – non-trading assets 372,358 (167,313 ) 205,045 (21,788 ) (182,995 ) (100 ) 162 37,759 242,804 Loans and advances to customers 3 40,534 (12,468 ) 28,066 (21,245 ) — — 6,821 536 28,602 At 31 Dec 2018 681,384 (230,282 ) 451,102 (190,062 ) (209,160 ) (38,131 ) 13,749 46,409 497,511 Financial liabilities Derivatives (Note 15) 1 275,286 (41,739 ) 233,547 (171,371 ) (20,137 ) (37,844 ) 4,195 5,950 239,497 Repos, stock lending and similar agreements classified as: 2 – trading liabilities 10,494 (280 ) 10,214 (1,553 ) (8,656 ) — 5 46 10,260 – non-trading liabilities 232,675 (134,772 ) 97,903 (28,826 ) (68,638 ) (357 ) 82 42,441 140,344 Customer accounts 4 36,750 (10,128 ) 26,622 (18,893 ) — — 7,729 31 26,653 At 31 Dec 2019 555,205 (186,919 ) 368,286 (220,643 ) (97,431 ) (38,201 ) 12,011 48,468 416,754 Derivatives (Note 15) 1 248,123 (49,711 ) 198,412 (145,785 ) (14,895 ) (29,998 ) 7,734 7,423 205,835 Repos, stock lending and similar agreements classified as: 2 – trading liabilities 13,169 (790 ) 12,379 (1,244 ) (11,133 ) — 2 114 12,493 – non-trading liabilities 274,367 (167,313 ) 107,054 (21,788 ) (85,087 ) (164 ) 15 58,830 165,884 Customer accounts 4 40,286 (12,468 ) 27,818 (21,245 ) — — 6,573 11 27,829 At 31 Dec 2018 575,945 (230,282 ) 345,663 (190,062 ) (111,115 ) (30,162 ) 14,324 66,378 412,041 1 At 31 December 2019, the amount of cash margin received that had been offset against the gross derivatives assets was $2,350m (2018: $3,935m ). The amount of cash margin paid that had been offset against the gross derivatives liabilities was $8,303m (2018: $5,888m ). 2 For the amount of repos, reverse repos, stock lending, stock borrowing and similar agreements recognised on the balance sheet within ‘Trading assets’ $ 21,350m (2018: $ 18,280m ) and ‘Trading liabilities’ $ 10,260m (2018: $ 12,493m ), see the ‘Funding sources and uses’ table on page 169 . 3 At 31 December 2019, the total amount of ‘Loans and advances to customers’ was $ 1,036,743m (2018: $ 981,696m ), of which $ 22,911m (2018: $ 28,066m ) was subject to offsetting. 4 At 31 December 2019, the total amount of ‘Customer accounts’ was $ 1,439,115m (2018: $ 1,362,643m ), of which $ 26,622m (2018: $ 27,818m ) was subject to offsetting. 5 These exposures continue to be se |
Assets pledged, collateral rece
Assets pledged, collateral received and assets transferred | 12 Months Ended |
Dec. 31, 2019 | |
Financial Instruments [Abstract] | |
Assets pledged, collateral received and assets transferred | 17 Assets pledged, collateral received and assets transferred Assets pledged Financial assets pledged as collateral 2019 2018 $m $m Treasury bills and other eligible securities 14,034 11,470 Loans and advances to banks 1,975 151 Loans and advances to customers 26,017 51,659 Debt securities 60,995 95,210 Equity securities 24,626 22,510 Other 50,231 34,028 Assets pledged at 31 Dec 177,878 215,028 Assets pledged as collateral include all assets categorised as encumbered in the disclosure on page 73 of the Pillar 3 Disclosures at 31 December 2019. The amount of assets pledged to secure liabilities may be greater than the book value of assets utilised as collateral. For example, in the case of securitisations and covered bonds, the amount of liabilities issued plus mandatory over-collateralisation is less than the book value of the pool of assets available for use as collateral. This is also the case where assets are placed with a custodian or a settlement agent that has a floating charge over all the assets placed to secure any liabilities under settlement accounts. These transactions are conducted under terms that are usual and customary to collateralised transactions including, where relevant, standard securities lending and borrowing, repurchase agreements and derivative margining. HSBC places both cash and non-cash collateral in relation to derivative transactions. Hong Kong currency notes in circulation are secured by the deposit of funds in respect of which the Hong Kong Government certificates of indebtedness are held. Financial assets pledged as collateral which the counterparty has the right to sell or repledge 2019 2018 $m $m Trading assets 63,163 76,121 Financial investments 10,782 15,741 At 31 Dec 73,945 91,862 Collateral received The fair value of assets accepted as collateral relating primarily to standard securities lending, reverse repurchase agreements, swaps of securities and derivative margining that HSBC is permitted to sell or repledge in the absence of default was $ 468,798 m ( 2018 : $ 482,818 m). The fair value of any such collateral sold or repledged was $ 304,261 m ( 2018 : $ 350,848 m). HSBC is obliged to return equivalent securities. These transactions are conducted under terms that are usual and customary to standard securities lending, reverse repurchase agreements and derivative margining. Assets transferred The assets pledged include transfers to third parties that do not qualify for derecognition, notably secured borrowings such as debt securities held by counterparties as collateral under repurchase agreements and equity securities lent under securities lending agreements, as well as swaps of equity and debt securities. For secured borrowings, the transferred asset collateral continues to be recognised in full while a related liability, reflecting the Group’s obligation to repurchase the assets for a fixed price at a future date, is also recognised on the balance sheet. Where securities are swapped, the transferred asset continues to be recognised in full. There is no associated liability as the non-cash collateral received is not recognised on the balance sheet. The Group is unable to use, sell or pledge the transferred assets for the duration of the transaction, and remains exposed to interest rate risk and credit risk on these pledged assets. With the exception of ‘Other sales’ in the following table, the counterparty’s recourse is not limited to the transferred assets. Transferred financial assets not qualifying for full derecognition and associated financial liabilities Carrying amount of: Fair value of: Transferred assets Associated liabilities Transferred assets Associated liabilities Net position $m $m $m $m $m At 31 Dec 2019 Repurchase agreements 45,831 45,671 Securities lending agreements 35,122 3,225 Other sales (recourse to transferred assets only) 2,971 2,885 2,974 2,897 77 At 31 Dec 2018 Repurchase agreements 62,216 60,361 Securities lending agreements 32,486 2,426 Other sales (recourse to transferred assets only) 2,647 2,647 2,625 2,630 (5 ) |
Interest in associates and join
Interest in associates and joint ventures | 12 Months Ended |
Dec. 31, 2019 | |
Interests In Other Entities [Abstract] | |
Interest in associates and joint ventures | 18 Interests in associates and joint ventures Carrying amount of HSBC’s interests in associates and joint ventures 2019 2018 $m $m Interests in associates 24,384 22,244 Interests in joint ventures 1 90 163 Interests in associates and joint ventures 24,474 22,407 1 During 2019, HSBC increased its shareholding in HSBC Saudi Arabia, which is now recognised as a subsidiary. Principal associates of HSBC 2019 2018 Carrying amount Fair value 1 Carrying amount Fair value 1 $m $m $m $m Bank of Communications Co., Limited 18,982 10,054 17,754 10,991 The Saudi British Bank 4,370 5,550 3,557 5,222 1 Principal associates are listed on recognised stock exchanges. The fair values are based on the quoted market prices of the shares held (Level 1 in the fair value hierarchy). At 31 Dec 2019 Footnotes Country of incorporation and principal place of business Principal activity HSBC’s interest % Bank of Communications Co., Limited People’s Republic of China Banking services 19.03 The Saudi British Bank 1 Saudi Arabia Banking services 29.20 1 In June 2019, the merger between The Saudi British Bank (‘SABB’) and Alawwal bank (‘Alawwal’) became effective. The merger involved SABB issuing a fixed number of new shares to Alawwal’s shareholders in exchange for the transfer of Alawwal’s net assets and cancellation of its shares. HSBC’s 40.0% interest in SABB reduced to 29.2% of the combined entity, resulting in a dilution gain of $828m recognised in HSBC’s consolidated income statement. The dilution gain represents the difference between the carrying amount of HSBC’s interest in SABB that was derecognised proportionate to the percentage reduction, and HSBC’s share of the increase in the combined entity’s net assets. The combined entity continues to be an associate of HSBC. A list of all associates and joint ventures is set out in Note 37 . Bank of Communications Co., Limited The Group’s investment in Bank of Communications Co., Limited (‘BoCom’) is classified as an associate. Significant influence in BoCom was established via representation on BoCom’s Board of Directors and participation in a technical cooperation and exchange programme (‘TCEP’). Under the TCEP, a number of HSBC staff have been seconded to assist in the maintenance of BoCom’s financial and operating policies. Investments in associates are recognised using the equity method of accounting in accordance with IAS 28, whereby the investment is initially recognised at cost and adjusted thereafter for the post-acquisition change in the Group’s share of BoCom’s net assets. An impairment test is required if there is any indication of impairment. Impairment testing At 31 December 2019, the fair value of the Group’s investment in BoCom had been below the carrying amount for approximately eight years. As a result, the Group performed an impairment test on the carrying amount, which confirmed that there was no impairment at 31 December 2019 as the recoverable amount as determined by a value-in-use (‘VIU’) calculation was higher than the carrying value. At 31 Dec 2019 At 31 Dec 2018 VIU Carrying value Fair value VIU Carrying value Fair value $bn $bn $bn $bn $bn $bn BoCom 21.5 19.0 10.1 18.0 17.8 11.0 In future periods, the VIU may increase or decrease depending on the effect of changes to model inputs. The main model inputs are described below and are based on factors observed at period-end. The factors that could result in a change in the VIU and an impairment include a short-term underperformance by BoCom, a change in regulatory capital requirements or an increase in uncertainty regarding the future performance of BoCom resulting in a downgrade of the future asset growth or profitability. An increase in the discount rate as a result of an increase in the risk premium or risk-free rates could also result in a reduction of VIU and an impairment. At the point where the carrying value exceeds the VIU, impairment would be recognised. If the Group did not have significant influence in BoCom, the investment would be carried at fair value rather than the current carrying value. Basis of recoverable amount The impairment test was performed by comparing the recoverable amount of BoCom, determined by a VIU calculation, with its carrying amount. The VIU calculation uses discounted cash flow projections based on management’s best estimates of future earnings available to ordinary shareholders prepared in accordance with IAS 36. Significant management judgement is required in arriving at the best estimate. There are two main components to the VIU calculation. The first component is management’s best estimate of BoCom’s earnings, which is based on explicit forecasts over the short to medium term. This results in forecast earnings growth that is lower than recent historical actual growth and also reflects the uncertainty arising from the current economic outlook. Earnings beyond the short to medium term are then extrapolated in perpetuity using a long-term growth rate to derive a terminal value, which comprises the majority of the VIU. The second component is the capital maintenance charge (‘CMC’), which is management’s forecast of the earnings that need to be withheld in order for BoCom to meet regulatory capital requirements over the forecast period, meaning that CMC is deducted when arriving at management’s estimate of future earnings available to ordinary shareholders. The principal inputs to the CMC calculation include estimates of asset growth, the ratio of risk-weighted assets to total assets and the expected minimum regulatory capital requirements. An increase in the CMC as a result of a change to these principal inputs would reduce VIU. Additionally, management considers other factors, including qualitative factors, to ensure that the inputs to the VIU calculation remain appropriate. Key assumptions in value-in-use calculation We used a number of assumptions in our VIU calculation, in accordance with the requirements of IAS 36: • Long-term profit growth rate: 3% (2018: 3% ) for periods after 2023, which does not exceed forecast GDP growth in mainland China and is consistent with forecasts by external analysts. • Long-term asset growth rate: 3% (2018: 3% ) for periods after 2023, which is the rate that assets are expected to grow to achieve long-term profit growth of 3% . • Discount rate: 11.24% (2018: 11.82% ). This is based on a capital asset pricing model (‘CAPM’) calculation for BoCom, using market data. Management also compares the rate derived from the CAPM with discount rates from external sources. The discount rate used is within the range of 10.0% to 15.0% (2018: 10.4% to 15.0% ) indicated by external sources. • Expected credit losses as a percentage of customer advances: 0.95% (2018: ranges from 0.73% to 0.79% ) in the short to medium term and reflect increases due to the US-China trade tensions and BoCom’s actual results. For periods after 2023, the ratio is 0.76% (2018: 0.70% ). This ratio was increased to provide greater weighting to the most recent data points and analyst forecasts. • Risk-weighted assets as a percentage of total assets: 61% (2018: 62% ) for all forecast periods. This is consistent with BoCom’s actual results and slightly higher than the forecasts disclosed by external analysts. • Cost-income ratio: ranges from 37.1% to 38.8% (2018: 38.7% to 39.0% ) in the short to medium term. This is slightly above BoCom’s actual results in recent years and within the range of forecasts disclosed by external analysts. • Effective tax rate: ranges from 12.0% to 17.0% (2018: 13.8% to 22.3% ) in the short to medium term reflecting BoCom’s actual results and an expected increase towards the long-term assumption. For periods after 2023, the rate is 22.5% (2018: 22.5% ), which is slightly higher than the historical average. • Capital requirements: Capital adequacy ratio of 11.5% (2018: 11.5% ) and tier 1 capital adequacy ratio of 9.5% (2018: 9.5% ), based on the minimum regulatory requirements. The following table shows the change to each key assumption in the VIU calculation that on its own would reduce the headroom to nil: Key assumption Changes to key assumption to reduce headroom to nil • Long-term profit growth rate • Decrease by 99 basis points • Long-term asset growth rate • Increase by 80 basis points • Discount rate • Increase by 122 basis points • Expected credit losses as a percentage of customer advances • Increase by 16 basis points • Risk-weighted assets as a percentage of total assets • Increase by 624 basis points • Cost-income ratio • Increase by 373 basis points • Long-term effective tax rate • Increase by 900 basis points • Capital requirements – capital adequacy ratio • Increase by 118 basis points • Capital requirements – tier 1 capital adequacy ratio • Increase by 190 basis points The following table further illustrates the impact on VIU of reasonably possible changes to key assumptions. This reflects the sensitivity of the VIU to each key assumption on its own and it is possible that more than one favourable and/or unfavourable change may occur at the same time. The selected rates of reasonably possible changes to key assumptions are largely based on external analysts’ forecasts, which can change period to period. Sensitivity of VIU to reasonably possible changes in key assumptions Favourable change Unfavourable change Increase VIU Decrease VIU bps $bn $bn bps $bn $bn At 31 Dec 2019 Long-term profit growth rate — — 21.5 (50 ) (1.3 ) 20.2 Long-term asset growth rate (50 ) 1.4 22.9 — — 21.5 Discount rate (54 ) 1.4 22.9 56 (1.2 ) 20.3 Expected credit losses as a percentage of customer advances 2019 to 2023: 90 1.0 22.5 2019 to 2023: 108 (1.2 ) 20.3 Risk-weighted assets as a percentage of total assets (96 ) 0.4 21.9 12 — 21.5 Cost-income ratio (175 ) 1.0 22.5 95 (1.2 ) 20.3 Long-term effective tax rate (352 ) 1.0 22.5 250 (0.7 ) 20.8 Earnings in short to medium term – compound annual growth rate 1 107 0.5 22.0 (346 ) (2.4 ) 19.1 Capital requirements – capital adequacy ratio — — 21.5 337 (8.2 ) 13.3 Capital requirements – tier 1 capital adequacy ratio — — 21.5 322 (6.0 ) 15.5 At 31 Dec 2018 Long-term profit growth rate 100 2.6 20.6 (10 ) (0.2 ) 17.8 Long-term asset growth rate (10 ) 0.3 18.3 100 (2.8 ) 15.3 Discount rate (142 ) 3.2 21.3 28 (0.5 ) 17.5 Expected credit losses as a percentage of customer advances 2018 to 2022: 70 0.9 18.9 2018 to 2022: 83 (1.0 ) 17.0 Risk-weighted assets as a percentage of total assets (140 ) 0.5 18.6 80 (0.3 ) 17.8 Cost-income ratio (160 ) 1.1 19.2 200 (1.4 ) 16.7 Long-term effective tax rate (280 ) 0.7 18.7 250 (0.6 ) 17.5 Earnings in short to medium term – compound annual growth rate 1,2 204 1.1 19.1 (366 ) (1.8 ) 16.2 Capital requirements – capital adequacy ratio — — 18.0 258 (5.0 ) 13.0 Capital requirements – tier 1 capital adequacy ratio — — 18.0 243 (3.2 ) 14.8 1 Based on management’s explicit forecasts over the short to medium term. 2 Amounts at 31 December 2018 have been updated to align with the 2019 approach to describe the impact of the change in isolation. Considering the interrelationship of the changes set out in the table above, management estimates that the reasonably possible range of VIU is $18.5b n to $22.8 bn (2018: $15.5b n to $19.6b n). T he range is based on the favourable/unfavourable change in the earnings in the short- to medium-term and long-term expected credit losses as a percentage of customer advances as set out in the table above. All other long-term assumptions, the discount rate and the basis of the CMC have been kept unchanged when determining the reasonably possible range of the VIU. Selected financial information of BoCom The statutory accounting reference date of BoCom is 31 December. For the year ended 31 December 2019, HSBC included the associate’s results on the basis of the financial statements for the 12 months ended 30 September 2019, taking into account changes in the subsequent period from 1 October 2019 to 31 December 2019 that would have materially affected the results. Selected balance sheet information of BoCom At 30 Sep 2019 2018 $m $m Cash and balances at central banks 112,239 125,414 Loans and advances to banks and other financial institutions 108,026 102,980 Loans and advances to customers 730,510 686,951 Other financial assets 435,740 408,136 Other assets 40,101 42,106 Total assets 1,426,616 1,365,587 Deposits by banks and other financial institutions 290,492 304,395 Customer accounts 868,627 829,539 Other financial liabilities 131,772 94,900 Other liabilities 23,074 36,332 Total liabilities 1,313,965 1,265,166 Total equity 112,651 100,421 Reconciliation of BoCom’s total shareholders’ equity to the carrying amount in HSBC’s consolidated financial statements At 30 Sep 2019 2018 $m $m HSBC’s share of total shareholders’ equity 18,509 17,275 Goodwill and other intangible assets 473 479 Carrying amount 18,982 17,754 Selected income statement information of BoCom For the 12 months ended 30 Sep 2019 2018 $m $m Net interest income 20,558 19,295 Net fee and commission income 6,411 6,245 Change in expected credit losses and other credit impairment charges (7,479 ) (5,602 ) Depreciation and amortisation (1,934 ) (767 ) Tax expense (1,636 ) (1,554 ) Profit for the year 11,175 11,116 Other comprehensive income 315 190 Total comprehensive income 11,490 11,306 Dividends received from BoCom 613 611 Associates and joint ventures For the year ended 31 December 2019, HSBC’s share of associates’ and joint ventures’ tax on profit was $ 314m (2018: $ 306m ). This is included within ‘Share of profit in associates and joint ventures’ in the consolidated income statement. 20 Structured entities HSBC is mainly involved with both consolidated and unconsolidated structured entities through the securitisation of financial assets, conduits and investment funds, established either by HSBC or a third party. Consolidated structured entities Total assets of HSBC’s consolidated structured entities, split by entity type Conduits Securitisations HSBC Other Total $bn $bn $bn $bn $bn At 31 Dec 2019 8.6 9.6 6.8 6.7 31.7 At 31 Dec 2018 9.2 5.7 6.5 4.4 25.8 Conduits HSBC has established and manages two types of conduits: securities investment conduits (‘SICs’) and multi-seller conduits. Securities investment conduits The SICs purchase highly rated ABSs to facilitate tailored investment opportunities. • At 31 December 2019 , Solitaire, HSBC’s principal SIC, held $2.1b n of ABSs ( 2018 : $2.3b n). It is currently funded entirely by commercial paper (‘CP’) issued to HSBC. Although HSBC continues to provide a liquidity facility, Solitaire has no need to draw on it as long as HSBC purchases its issued CP, which HSBC intends to do for the foreseeable future. At 31 December 2019 , HSBC held $3.2b n of CP ( 2018 : $3.4b n). • As at 31 December 2019, Barion, Malachite and Mazarin are fully redeemed vehicles with no current trading activity. Multi-seller conduit HSBC’s multi-seller conduit was established to provide access to flexible market-based sources of finance for its clients. Currently, HSBC bears risk equal to the transaction-specific facility offered to the multi-seller conduit, amounting to $12.4b n at 31 December 2019 ( 2018 : $16.1b n). First loss protection is provided by the originator of the assets, and not by HSBC, through transaction-specific credit enhancements. A layer of secondary loss protection is provided by HSBC in the form of programme-wide enhancement facilities. Securitisations HSBC uses structured entities to securitise customer loans and advances it originates in order to diversify its sources of funding for asset origination and capital efficiency purposes. The loans and advances are transferred by HSBC to the structured entities for cash or synthetically through credit default swaps, and the structured entities issue debt securities to investors. HSBC managed funds HSBC has established a number of money market and non-money market funds. Where it is deemed to be acting as principal rather than agent in its role as investment manager, HSBC controls these funds. Other HSBC has entered into a number of transactions in the normal course of business, which include asset and structured finance transactions where it has control of the structured entity. In addition, HSBC is deemed to control a number of third-party managed funds through its involvement as a principal in the funds. Unconsolidated structured entities The term ‘unconsolidated structured entities’ refers to all structured entities not controlled by HSBC. The Group enters into transactions with unconsolidated structured entities in the normal course of business to facilitate customer transactions and for specific investment opportunities. Nature and risks associated with HSBC interests in unconsolidated structured entities Securitisations HSBC managed funds Non-HSBC managed funds Other Total Total asset values of the entities ($m) 0–500 91 236 670 70 1,067 500–2,000 12 70 642 7 731 2,000–5,000 — 28 345 — 373 5,000–25,000 — 14 260 — 274 25,000+ — 3 39 2 44 Number of entities at 31 Dec 2019 103 351 1,956 79 2,489 $bn $bn $bn $bn $bn Total assets in relation to HSBC’s interests in the unconsolidated structured entities 5.3 9.1 15.1 4.2 33.7 – trading assets — 0.2 3.5 1.3 5 – financial assets designated and otherwise mandatorily measured at fair value — 8.4 10.7 — 19.1 – loans and advances to customers 5.3 — 0.4 2.3 8 – financial investments — 0.5 0.5 — 1 – other assets — — — 0.6 0.6 Total liabilities in relation to HSBC’s interests in the unconsolidated structured entities — — — 0.3 0.3 – other liabilities — — — 0.3 0.3 Other off-balance sheet commitments 0.3 0.3 3.9 0.7 5.2 HSBC’s maximum exposure at 31 Dec 2019 5.6 9.4 19.0 4.6 38.6 Total asset values of the entities ($m) 0–500 76 243 906 79 1,304 500–2,000 10 56 570 5 641 2,000–5,000 1 17 230 — 248 5,000–25,000 — 5 90 1 96 25,000+ — 2 10 — 12 Number of entities at 31 Dec 2018 87 323 1,806 85 2,301 $bn $bn $bn $bn $bn Total assets in relation to HSBC’s interests in the unconsolidated structured entities 3.8 8.3 8.9 4.7 25.7 – trading assets — 0.1 0.3 1.3 1.7 – financial assets designated and otherwise mandatorily measured at fair value — 7.3 7.9 — 15.2 – loans and advances to customers 3.8 — 0.3 2.7 6.8 – financial investments — 0.9 0.4 0.3 1.6 – other assets — — — 0.4 0.4 Total liabilities in relation to HSBC’s interests in the unconsolidated structured entities — — — 0.2 0.2 – other liabilities — — — 0.2 0.2 Other off-balance sheet commitments 0.8 0.1 3.3 1.0 5.2 HSBC’s maximum exposure at 31 Dec 2018 4.6 8.4 12.2 5.5 30.7 The maximum exposure to loss from HSBC’s interests in unconsolidated structured entities represents the maximum loss it could incur as a result of its involvement with these entities regardless of the probability of the loss being incurred. • For commitments, guarantees and written credit default swaps, the maximum exposure to loss is the notional amount of potential future losses. • For retained and purchased investments in and loans to unconsolidated structured entities, the maximum exposure to loss is the carrying value of these interests at the balance sheet reporting date. The maximum exposure to loss is stated gross of the effects of hedging and collateral arrangements that HSBC has entered into in order to mitigate the Group's exposure to loss. Securitisations HSBC has interests in unconsolidated securitisation vehicles through holding notes issued by these entities. In addition, HSBC has investments in ABSs issued by third-party structured entities. HSBC managed funds HSBC establishes and manages money market funds and non-money market investment funds to provide customers with investment opportunities. Further information on funds under management is provided on page 72 . HSBC, as fund manager, may be entitled to receive management and performance fees based on the assets under management. HSBC may also retain units in these funds. Non-HSBC managed funds HSBC purchases and holds units of third-party managed funds in order to facilitate business and meet customer needs. Other HSBC has established structured entities in the normal course of business, such as structured credit transactions for customers, to provide finance to public and private sector infrastructure projects, and for asset and structured finance transactions. In addition to the interests disclosed above, HSBC enters into derivative contracts, reverse repos and stock borrowing transactions with structured entities. These interests arise in the normal course of business for the facilitation of third-party transactions and risk management solutions. HSBC sponsored structured entities The amount of assets transferred to and income received from such sponsored structured entities during 2019 and 2018 were not significant. 37 HSBC Holdings’ subsidiaries, joint ventures and associates In accordance with section 409 of the Companies Act 2006 a list of HSBC Holdings plc subsidiaries, joint ventures and associates, the registered office addresses and the effective percentages of equity owned at 31 December 2019 are disclosed below. Unless otherwise stated, the share capital comprises ordinary or common shares that are held by Group subsidiaries. The ownership percentage is provided for each undertaking. The undertakings below are consolidated by HSBC unless otherwise indicated. Subsidiaries Subsidiaries % of share class held by immediate parent company (or by the Group where this varies) Footnotes Almacenadora Banpacifico S.A. (In Liquidation) 99.99 15 Assetfinance December (F) Limited 100.00 16 Assetfinance December (H) Limited 100.00 17 Assetfinance December (M) Limited (In Liquidation) 100.00 32 Assetfinance December (P) Limited 100.00 17 Assetfinance December (R) Limited 100.00 17 Assetfinance June (A) Limited 100.00 17 Assetfinance June (D) Limited 100.00 16 Assetfinance Limited 100.00 17 Assetfinance March (B) Limited 100.00 18 Assetfinance March (D) Limited 100.00 16 Assetfinance March (F) Limited 100.00 17 Assetfinance September (F) Limited 100.00 17 Assetfinance September (G) Limited 100.00 16 B&Q Financial Services Limited 100.00 19 Banco Nominees (Guernsey) Limited 100.00 20 Banco Nominees 2 (Guernsey) Limited 100.00 20 Banco Nominees Limited 100.00 21 Beau Soleil Limited Partnership n/a 0, 22 Beijing Miyun HSBC Rural Bank Company Limited 100.00 12, 23 Billingsgate Nominees Limited 100.00 17 Canada Crescent Nominees (UK) Limited 100.00 17 Canada Square Nominees (UK) Limited 100.00 17 Capco/Cove, Inc. 100.00 24 Card-Flo #1, Inc. 100.00 25 Card-Flo #3, Inc. 100.00 26 CC&H Holdings LLC n/a 0, 27 CCF & Partners Asset Management Limited 100.00 (99.99 ) 17 CCF Holding (LIBAN) S.A.L. (In Liquidation) 74.99 28 Charterhouse Administrators ( D.T.) Limited 100.00 (99.99 ) 17 Charterhouse Management Services Limited 100.00 (99.99 ) 17 Charterhouse Pensions Limited 100.00 17 Chongqing Dazu HSBC Rural Bank Company Limited 100.00 12, 29 Chongqing Fengdu HSBC Rural Bank Company Limited 100.00 12, 30 Chongqing Rongchang HSBC Rural Bank Company Limited 100.00 12, 31 CL Residential Limited (In Liquidation) 100.00 32 COIF Nominees Limited n/a 0, 17 Cordico Management AG (In Liquidation) 100.00 33 Dalian Pulandian HSBC Rural Bank Company Limited 100.00 12, 34 Decision One Mortgage Company, LLC n/a 0, 35 Dem 9 100.00 (99.99 ) 4, 36 Dempar 1 100.00 (99.99 ) 37 Desarrollo Turistico, S.A. de C.V. (In Liquidation) 100.00 (99.79 ) 15 Electronic Data Process México, S.A. de C.V. 100.00 15 Elysées Immo Invest 100.00 (99.99 ) 38 Equator Holdings Limited (In Liquidation) 100.00 32 Eton Corporate Services Limited 100.00 20 Far East Leasing SA (In Dissolution) 100.00 39 Finanpar 7 100.00 (99.99 ) 38 Flandres Contentieux S.A. 100.00 (99.99 ) 40 Foncière Elysées 100.00 (99.99 ) 37 Fujian Yongan HSBC Rural Bank Company Limited 100.00 12, 41 Fulcher Enterprises Company Limited 100.00 (62.14 ) 42 Fundacion HSBC, A.C. 100.00 (99.99 ) 11, 15 Giller Ltd. 100.00 24 GPIF Co-Investment, LLC n/a 0, 26 Subsidiaries % of share class held by immediate parent company (or by the Group where this varies) Footnotes Griffin International Limited 100.00 17 Grundstuecksgesellschaft Trinkausstrasse Kommanditgesellschaft n/a 0, 43 Grupo Financiero HSBC, S. A. de C. V. 99.99 15 Guangdong Enping HSBC Rural Bank Company Limited 100.00 12, 44 Hang Seng (Nominee) Limited 100.00 (62.14 ) 42 Hang Seng Bank (China) Limited 100.00 (62.14 ) 45 Hang Seng Bank (Trustee) Limited 100.00 (62.14 ) 42 Hang Seng Bank Limited 62.14 42 Hang Seng Bullion Company Limited 100.00 (62.14 ) 42 Hang Seng Credit Limited 100.00 (62.14 ) 42 Hang Seng Data Services Limited 100.00 (62.14 ) 42 Hang Seng Finance Limited 100.00 (62.14 ) 42 Hang Seng Financial Information Limited 100.00 (62.14 ) 42 Hang Seng Indexes Company Limited 100.00 (62.14 ) 42 Hang Seng Insurance Company Limited 100.00 (62.14 ) 42 Hang Seng Investment Management Limited 100.00 (62.14 ) 42 Hang Seng Investment Services Limited 100.00 (62.14 ) 42 Hang Seng Life Limited 100.00 (62.14 ) 42 Hang Seng Real Estate Management Limited 100.00 (62.14 ) 42 Hang Seng Securities Limited 100.00 (62.14 ) 42 Hang Seng Security Management Limited 100.00 (62.14 ) 42 Haseba Investment Company Limited 100.00 (62.14 ) 42 HFC Bank Limited (In Liquidation) 100.00 32 High Time Investments Limited 100.00 (62.14 ) 42 Honey Green Enterprises Ltd. 100.00 46 Household International Europe Limited (In Liquidation) 100.00 32 Household Pooling Corporation 100.00 47 HRMG Nominees Limited 100.00 20 HSBC (BGF) Investments Limited 100.00 17 HSBC (General Partner) Limited 100.00 2, 48 HSBC (Guernsey) GP PCC Limited 100.00 20 HSBC (Kuala Lumpur) Nominees Sdn Bhd 100.00 49 HSBC (Malaysia) Trustee Berhad 100.00 50 HSBC (Singapore) Nominees Pte Ltd 100.00 51 HSBC Agency (India) Private Limited 100.00 52 HSBC Alternative Investments Limited 100.00 17 HSBC Amanah Malaysia Berhad 100.00 49 HSBC Americas Corporation (Delaware) 100.00 26 HSBC Argentina Holdings S.A. 100.00 53 HSBC Asia Holdings B.V. 100.00 17 HSBC Asia Holdings Limited 100.00 2, 54 HSBC Asia Pacific Holdings (UK) Limited 100.00 17 HSBC Asset Finance (UK) Limited 100.00 17 HSBC Asset Finance Holdings Limited (In Liquidation) 100.00 32 HSBC Asset Finance M.O.G. Holdings (UK) Limited 100.00 17 HSBC Asset Management (India) Private Limited 100.00 55 HSBC Assurances Vie (France) 100.00 (99.99 ) 40 HSBC Australia Holdings Pty Limited 100.00 56 HSBC Bank (Chile) 100.00 57 HSBC Bank (China) Company Limited 100.00 12, 58 HSBC Bank (General Partner) Limited 100.00 48 HSBC Bank (Mauritius) Limited 100.00 59 HSBC Bank (RR) (Limited Liability Company) n/a 0, 13, 60 HSBC Bank (Singapore) Limited 100.00 51 HSBC Bank (Taiwan) Limited 100.00 61 HSBC Bank (Uruguay) S.A. 100.00 62 HSBC Bank (Vietnam) Ltd. 100.00 63 HSBC Bank A.S. 100.00 (99.99 ) 64 Subsidiaries % of share class held by immediate parent company (or by the Group where this varies) Footnotes HSBC Bank Argentina S.A. 99.00 53 HSBC Bank Armenia cjsc 70.00 65 HSBC Bank Australia Limited 100.00 56 HSBC Bank Bermuda Limited 100.00 21 HSBC Bank Canada 100.00 66 HSBC Bank Capital Funding (Sterling 1) LP n/a 0, 48 HSBC Bank Capital Funding (Sterling 2) LP n/a 0, 48 HSBC Bank Egypt S.A.E 94.54 67 HSBC Bank Malaysia Berhad 100.00 49 HSBC Bank Malta p.l.c. 70.03 68 HSBC Bank Middle East Limited 100.00 5, 69 HSBC Bank Middle East Limited Representative Office Morocco SARL (In Liquidation) 100.00 70 HSBC Bank Oman S.A.O.G. 51.00 71 HSBC Bank Pension Trust (UK) Limited 100.00 17 HSBC Bank plc 100.00 17 HSBC Bank USA, National Association 100.00 72 HSBC Branch Nominee (UK) Limited 100.00 16 HSBC Brasil Holding S.A. 100.00 (99.99 ) 73 HSBC Brasil S.A. Banco de Investimento 100.00 (99.99 ) 73 HSBC Broking Forex (Asia) Limited 100.00 54 HSBC Broking Futures (Asia) Limited 100.00 54 HSBC Broking Futures (Hong Kong) Limited 100.00 54 HSBC Broking Securities (Asia) Limited 100.00 54 HSBC Broking Securities (Hong Kong) Limited 100.00 54 HSBC Broking Services (Asia) Limited 100.00 54 HSBC Canadian Covered Bond (Legislative) GP Inc. 100.00 74 HSBC Canadian Covered Bond (Legislative) Guarantor Limited Partnership n/a 0, 74 HSBC Capital (USA), Inc. 100.00 26 HSBC Capital Funding (Dollar 1) L.P. n/a 0, 48 HSBC Capital Limited 100.00 54 HSBC Card Services Inc. 100.00 26 HSBC Casa de Bolsa, S.A. de C.V., Grupo Financiero HSBC 100.00 (99.99 ) 15 HSBC Cayman Limited 100.00 75 HSBC Cayman Services Limited 100.00 76 HSBC City Funding Holdings 100.00 17 HSBC Client Holdings Nominee (UK) Limited 100.00 17 HSBC Client Nominee (Jersey) Limited 100.00 77 HSBC Client Share Offer Nominee (UK) Limited (In Liquidation) 100.00 32 HSBC Columbia Funding, LLC n/a 0, 26 HSBC Corporate Advisory (Malaysia) Sdn Bhd 100.00 49 HSBC Corporate Finance (Hong Kong) Limited 100.00 54 HSBC Corporate Trustee Company (UK) Limited 100.00 17 HSBC Custody Nominees (Australia) Limited 100.00 56 HSBC Custody Services (Guernsey) Limited 100.00 (99.99 ) 20 HSBC Daisy Investments (Mauritius) Limited 100.00 78 HSBC Diversified Loan Fund General Partner Sarl n/a 0, 79 HSBC Electronic Data Processing (Guangdong) Limited 100.00 12, 80 HSBC Electronic Data Processing (Malaysia) Sdn Bhd 100.00 81 HSBC Electronic Data Processing (Philippines), Inc. 99.00 82 HSBC Electronic Data Processing India Private Limited 100.00 (99.99 ) 83 HSBC Electronic Data Processing Lanka (Private) Limited 100.00 (99.99 ) 84 HSBC Electronic Data Service Delivery (Egypt) S.A.E. 100.00 (99.99 ) 85 HSBC Enterprise Investment Company (UK) Limited (In Liquidation) 100.00 32 HSBC Epargne Entreprise (France) 100.00 (99.99 ) 40 Subsidiaries % of share class held by immediate parent company (or by the Group where this varies) Footnotes HSBC Equator (UK) Limited (In Liquidation) 100.00 32 HSBC Equipment Finance (UK) Limited 100.00 16 HSBC Equity (UK) Limited 100.00 17 HSBC Europe B.V. 100.00 (99.99 ) 17 HSBC Executor & Trustee Company (UK) Limited 100.00 16 HSBC Factoring (France) 100.00 (99.99 ) 37 HSBC Finance (Netherlands) 100.00 2, 17 HSBC Finance Corporation 100.00 26 HSBC Finance Limited 100.00 17 HSBC Finance Mortgages Inc. 100.00 86 HSBC Finance Transformation (UK) Limited 100.00 17 HSBC Financial Services (Lebanon) s.a.l. 99.60 87 HSBC Financial Services (Middle East) Limited 100.00 88 HSBC Financial Services (Uruguay) S.A. (In Liquidation) 100.00 89 HSBC France 99.00 37 HSBC Fund Services (Korea) Limited 92.96 90 HSBC Germany Holdings GmbH 100.00 43 HSBC Global Asset Management (Bermuda) Limited 100.00 21 HSBC Global Asset Management (Canada) Limited 100.00 66 HSBC Global Asset Management (Deutschland) GmbH 100.00 (80.67 ) 43 HSBC Global Asset Management (France) 100.00 (99.99 ) 91 HSBC Global Asset Management (Hong Kong) Limited 100.00 22 HSBC Global Asset Management (International) Limited (In Liquidation) 100.00 92 HSBC Global Asset Management (Japan) K. K. 100.00 93 HSBC Global Asset Management (Malta) Limited 100.00 (70.00 ) 94 HSBC Global Asset Management (México), S.A. de C.V., Sociedad Operadora de Fondos de Inversión, Grupo Financiero HSBC 100.00 (99.99 ) 15 HSBC Global Asset Management (Oesterreich) GmbH 100.00 (80.67 ) 6, 95 HSBC Global Asset Management (Singapore) Limited 100.00 51 HSBC Global Asset Management (Switzerland) AG 100.00 (90.33 ) 4, 96 HSBC Global Asset Management (Taiwan) Limited 100.00 97 HSBC Global Asset Management (UK) Limited 100.00 17 HSBC Global Asset Management (USA) Inc. 100.00 98 HSBC Global Asset Management Argentina S.A. Sociedad Gerente de Fondos Comunes de Inversión 100.00 (99.99 ) 99 HSBC Global Asset Management Holdings (Bahamas) Limited 100.00 100 HSBC Global Asset Management Limited 100.00 2, 17 HSBC Global Custody Nominee (UK) Limited 100.00 17 HSBC Global Custody Proprietary Nominee (UK) Limited 100.00 1, 17 HSBC Global Services (Canada) Limited 100.00 101 HSBC Global Services (China) Holdings Limited 100.00 17 HSBC Global Services (Hong Kong) Limited 100.00 54 HSBC Global Services (UK) Limited 100.00 17 HSBC Global Services Limited 100.00 2, 17 HSBC Global Shared Services (India) Private Limited (In Liquidation) 100.00 1, 52 HSBC Group Management Services Limited 100.00 17 HSBC Group Nominees UK Limited 100.00 2, 17 HSBC Holdings B.V. 100.00 17 HSBC IM Pension Trust Limited 100.00 17 HSBC Infrastructure Limited 100.00 17 HSBC INKA Investment-AG TGV 100.00 (80.67 ) 14, 102 HSBC Inmobiliaria (Mexico), S.A. de C.V. 100.00 (99.99 ) 15 HSBC Institutional Trust Services (Asia) Limited 100.00 54 Subsidiaries % of share class held by immediate parent company (or by the Group where this varies) Footnotes HSBC Institutional Trust Services (Bermuda) Limited 100.00 21 HSBC Institutional Trust Services (Mauritius) Limited 100.00 103 |
Investments in subsidiaries
Investments in subsidiaries | 12 Months Ended |
Dec. 31, 2019 | |
Interests In Other Entities [Abstract] | |
Investments in subsidiaries | 19 Investments in subsidiaries Main subsidiaries of HSBC Holdings At 31 Dec 2019 Place of incorporation or registration HSBC’s interest % Share class Europe HSBC Bank plc England and Wales 100 £1 Ordinary, $0.01 Non-cumulative third Dollar Preference HSBC UK Bank plc England and Wales 100 £1 Ordinary HSBC France France 99.99 €5 Actions HSBC Trinkaus & Burkhardt AG Germany 80.67 Stückaktien no par value Asia Hang Seng Bank Limited Hong Kong 62.14 HK$5 Ordinary HSBC Bank (China) Company Limited People’s Republic of China 100 CNY1 Ordinary HSBC Bank Malaysia Berhad Malaysia 100 RM0.50 Ordinary HSBC Life (International) Limited Bermuda 100 HK$1 Ordinary The Hongkong and Shanghai Banking Corporation Limited Hong Kong 100 Ordinary no par value Middle East and North Africa HSBC Bank Middle East Limited United Arab Emirates 100 $1 Ordinary and $1 Cumulative Redeemable Preference shares (CRP) North America HSBC Bank Canada Canada 100 Common no par value and Preference no par value HSBC Bank USA, N.A. US 100 $100 Common and $0.01 Preference Latin America HSBC Mexico, S.A., Institución de Banca Múltiple, Mexico 99.99 MXN2 Ordinary Details of the debt, subordinated debt and preference shares issued by the main subsidiaries to parties external to the Group are included in Note 25 ‘Debt securities in issue’ and Note 28 ‘Subordinated liabilities’, respectively. A list of all related undertakings is set out in Note 37 . The principal countries of operation are the same as the countries and territories of incorporation except for HSBC Life (International) Limited, which operates mainly in Hong Kong. HSBC is structured as a network of regional banks and locally incorporated regulated banking entities. Each bank is separately capitalised in accordance with applicable prudential requirements and maintains a capital buffer consistent with the Group’s risk appetite for the relevant country or region. HSBC’s capital management process is incorporated in the annual operating plan, which is approved by the Board. HSBC Holdings is the primary provider of equity capital to its subsidiaries and also provides them with non-equity capital where necessary. These investments are substantially funded by HSBC Holdings’ issuance of equity and non-equity capital, and by profit retention. The increase in HSBC Holdings’ investments in subsidiaries during the year is primarily driven by new capital injections of $3,721m (2018: net increase of $65,222m ), partially offset by $2,562m impairment charges (2018: net reversal of $2,064m ), which includes $2,475m impairment of HSBC Overseas Holdings (UK) Limited. As part of its capital management process, HSBC Holdings seeks to maintain a balance between the composition of its capital and its investment in subsidiaries. Subject to this, there is no current or foreseen impediment to HSBC Holdings’ ability to provide funding for such investments. During 2019, consistent with the Group’s capital plan, the Group’s subsidiaries did not experience any significant restrictions on paying dividends or repaying loans and advances. Also, there are no foreseen restrictions envisaged with regard to planned dividends or payments. However, the ability of subsidiaries to pay dividends or advance monies to HSBC Holdings depends on, among other things, their respective local regulatory capital and banking requirements, exchange controls, statutory reserves, and financial and operating performance. The amount of guarantees by HSBC Holdings in favour of other Group entities is set out in Note 32 . Information on structured entities consolidated by HSBC where HSBC owns less than 50% of the voting rights is included in Note 20 ‘Structured entities’. In each of these cases, HSBC controls and consolidates an entity when it is exposed, or has rights, to variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. Subsidiaries with significant non-controlling interests 2019 2018 Hang Seng Bank Limited Proportion of ownership interests and voting rights held by non-controlling interests 37.86 % 37.86% Place of business Hong Kong Hong Kong $m $m Profit attributable to non-controlling interests 1,229 1,194 Accumulated non-controlling interests of the subsidiary 7,262 6,637 Dividends paid to non-controlling interests 720 647 Summarised financial information: – total assets 212,485 197,867 – total liabilities 191,819 179,450 – net operating income before changes in expected credit losses and other credit impairment charges 5,558 5,294 – profit for the year 3,251 3,159 – total comprehensive income for the year 3,461 2,950 |
Structured entities
Structured entities | 12 Months Ended |
Dec. 31, 2019 | |
Interests In Other Entities [Abstract] | |
Structured entities | 18 Interests in associates and joint ventures Carrying amount of HSBC’s interests in associates and joint ventures 2019 2018 $m $m Interests in associates 24,384 22,244 Interests in joint ventures 1 90 163 Interests in associates and joint ventures 24,474 22,407 1 During 2019, HSBC increased its shareholding in HSBC Saudi Arabia, which is now recognised as a subsidiary. Principal associates of HSBC 2019 2018 Carrying amount Fair value 1 Carrying amount Fair value 1 $m $m $m $m Bank of Communications Co., Limited 18,982 10,054 17,754 10,991 The Saudi British Bank 4,370 5,550 3,557 5,222 1 Principal associates are listed on recognised stock exchanges. The fair values are based on the quoted market prices of the shares held (Level 1 in the fair value hierarchy). At 31 Dec 2019 Footnotes Country of incorporation and principal place of business Principal activity HSBC’s interest % Bank of Communications Co., Limited People’s Republic of China Banking services 19.03 The Saudi British Bank 1 Saudi Arabia Banking services 29.20 1 In June 2019, the merger between The Saudi British Bank (‘SABB’) and Alawwal bank (‘Alawwal’) became effective. The merger involved SABB issuing a fixed number of new shares to Alawwal’s shareholders in exchange for the transfer of Alawwal’s net assets and cancellation of its shares. HSBC’s 40.0% interest in SABB reduced to 29.2% of the combined entity, resulting in a dilution gain of $828m recognised in HSBC’s consolidated income statement. The dilution gain represents the difference between the carrying amount of HSBC’s interest in SABB that was derecognised proportionate to the percentage reduction, and HSBC’s share of the increase in the combined entity’s net assets. The combined entity continues to be an associate of HSBC. A list of all associates and joint ventures is set out in Note 37 . Bank of Communications Co., Limited The Group’s investment in Bank of Communications Co., Limited (‘BoCom’) is classified as an associate. Significant influence in BoCom was established via representation on BoCom’s Board of Directors and participation in a technical cooperation and exchange programme (‘TCEP’). Under the TCEP, a number of HSBC staff have been seconded to assist in the maintenance of BoCom’s financial and operating policies. Investments in associates are recognised using the equity method of accounting in accordance with IAS 28, whereby the investment is initially recognised at cost and adjusted thereafter for the post-acquisition change in the Group’s share of BoCom’s net assets. An impairment test is required if there is any indication of impairment. Impairment testing At 31 December 2019, the fair value of the Group’s investment in BoCom had been below the carrying amount for approximately eight years. As a result, the Group performed an impairment test on the carrying amount, which confirmed that there was no impairment at 31 December 2019 as the recoverable amount as determined by a value-in-use (‘VIU’) calculation was higher than the carrying value. At 31 Dec 2019 At 31 Dec 2018 VIU Carrying value Fair value VIU Carrying value Fair value $bn $bn $bn $bn $bn $bn BoCom 21.5 19.0 10.1 18.0 17.8 11.0 In future periods, the VIU may increase or decrease depending on the effect of changes to model inputs. The main model inputs are described below and are based on factors observed at period-end. The factors that could result in a change in the VIU and an impairment include a short-term underperformance by BoCom, a change in regulatory capital requirements or an increase in uncertainty regarding the future performance of BoCom resulting in a downgrade of the future asset growth or profitability. An increase in the discount rate as a result of an increase in the risk premium or risk-free rates could also result in a reduction of VIU and an impairment. At the point where the carrying value exceeds the VIU, impairment would be recognised. If the Group did not have significant influence in BoCom, the investment would be carried at fair value rather than the current carrying value. Basis of recoverable amount The impairment test was performed by comparing the recoverable amount of BoCom, determined by a VIU calculation, with its carrying amount. The VIU calculation uses discounted cash flow projections based on management’s best estimates of future earnings available to ordinary shareholders prepared in accordance with IAS 36. Significant management judgement is required in arriving at the best estimate. There are two main components to the VIU calculation. The first component is management’s best estimate of BoCom’s earnings, which is based on explicit forecasts over the short to medium term. This results in forecast earnings growth that is lower than recent historical actual growth and also reflects the uncertainty arising from the current economic outlook. Earnings beyond the short to medium term are then extrapolated in perpetuity using a long-term growth rate to derive a terminal value, which comprises the majority of the VIU. The second component is the capital maintenance charge (‘CMC’), which is management’s forecast of the earnings that need to be withheld in order for BoCom to meet regulatory capital requirements over the forecast period, meaning that CMC is deducted when arriving at management’s estimate of future earnings available to ordinary shareholders. The principal inputs to the CMC calculation include estimates of asset growth, the ratio of risk-weighted assets to total assets and the expected minimum regulatory capital requirements. An increase in the CMC as a result of a change to these principal inputs would reduce VIU. Additionally, management considers other factors, including qualitative factors, to ensure that the inputs to the VIU calculation remain appropriate. Key assumptions in value-in-use calculation We used a number of assumptions in our VIU calculation, in accordance with the requirements of IAS 36: • Long-term profit growth rate: 3% (2018: 3% ) for periods after 2023, which does not exceed forecast GDP growth in mainland China and is consistent with forecasts by external analysts. • Long-term asset growth rate: 3% (2018: 3% ) for periods after 2023, which is the rate that assets are expected to grow to achieve long-term profit growth of 3% . • Discount rate: 11.24% (2018: 11.82% ). This is based on a capital asset pricing model (‘CAPM’) calculation for BoCom, using market data. Management also compares the rate derived from the CAPM with discount rates from external sources. The discount rate used is within the range of 10.0% to 15.0% (2018: 10.4% to 15.0% ) indicated by external sources. • Expected credit losses as a percentage of customer advances: 0.95% (2018: ranges from 0.73% to 0.79% ) in the short to medium term and reflect increases due to the US-China trade tensions and BoCom’s actual results. For periods after 2023, the ratio is 0.76% (2018: 0.70% ). This ratio was increased to provide greater weighting to the most recent data points and analyst forecasts. • Risk-weighted assets as a percentage of total assets: 61% (2018: 62% ) for all forecast periods. This is consistent with BoCom’s actual results and slightly higher than the forecasts disclosed by external analysts. • Cost-income ratio: ranges from 37.1% to 38.8% (2018: 38.7% to 39.0% ) in the short to medium term. This is slightly above BoCom’s actual results in recent years and within the range of forecasts disclosed by external analysts. • Effective tax rate: ranges from 12.0% to 17.0% (2018: 13.8% to 22.3% ) in the short to medium term reflecting BoCom’s actual results and an expected increase towards the long-term assumption. For periods after 2023, the rate is 22.5% (2018: 22.5% ), which is slightly higher than the historical average. • Capital requirements: Capital adequacy ratio of 11.5% (2018: 11.5% ) and tier 1 capital adequacy ratio of 9.5% (2018: 9.5% ), based on the minimum regulatory requirements. The following table shows the change to each key assumption in the VIU calculation that on its own would reduce the headroom to nil: Key assumption Changes to key assumption to reduce headroom to nil • Long-term profit growth rate • Decrease by 99 basis points • Long-term asset growth rate • Increase by 80 basis points • Discount rate • Increase by 122 basis points • Expected credit losses as a percentage of customer advances • Increase by 16 basis points • Risk-weighted assets as a percentage of total assets • Increase by 624 basis points • Cost-income ratio • Increase by 373 basis points • Long-term effective tax rate • Increase by 900 basis points • Capital requirements – capital adequacy ratio • Increase by 118 basis points • Capital requirements – tier 1 capital adequacy ratio • Increase by 190 basis points The following table further illustrates the impact on VIU of reasonably possible changes to key assumptions. This reflects the sensitivity of the VIU to each key assumption on its own and it is possible that more than one favourable and/or unfavourable change may occur at the same time. The selected rates of reasonably possible changes to key assumptions are largely based on external analysts’ forecasts, which can change period to period. Sensitivity of VIU to reasonably possible changes in key assumptions Favourable change Unfavourable change Increase VIU Decrease VIU bps $bn $bn bps $bn $bn At 31 Dec 2019 Long-term profit growth rate — — 21.5 (50 ) (1.3 ) 20.2 Long-term asset growth rate (50 ) 1.4 22.9 — — 21.5 Discount rate (54 ) 1.4 22.9 56 (1.2 ) 20.3 Expected credit losses as a percentage of customer advances 2019 to 2023: 90 1.0 22.5 2019 to 2023: 108 (1.2 ) 20.3 Risk-weighted assets as a percentage of total assets (96 ) 0.4 21.9 12 — 21.5 Cost-income ratio (175 ) 1.0 22.5 95 (1.2 ) 20.3 Long-term effective tax rate (352 ) 1.0 22.5 250 (0.7 ) 20.8 Earnings in short to medium term – compound annual growth rate 1 107 0.5 22.0 (346 ) (2.4 ) 19.1 Capital requirements – capital adequacy ratio — — 21.5 337 (8.2 ) 13.3 Capital requirements – tier 1 capital adequacy ratio — — 21.5 322 (6.0 ) 15.5 At 31 Dec 2018 Long-term profit growth rate 100 2.6 20.6 (10 ) (0.2 ) 17.8 Long-term asset growth rate (10 ) 0.3 18.3 100 (2.8 ) 15.3 Discount rate (142 ) 3.2 21.3 28 (0.5 ) 17.5 Expected credit losses as a percentage of customer advances 2018 to 2022: 70 0.9 18.9 2018 to 2022: 83 (1.0 ) 17.0 Risk-weighted assets as a percentage of total assets (140 ) 0.5 18.6 80 (0.3 ) 17.8 Cost-income ratio (160 ) 1.1 19.2 200 (1.4 ) 16.7 Long-term effective tax rate (280 ) 0.7 18.7 250 (0.6 ) 17.5 Earnings in short to medium term – compound annual growth rate 1,2 204 1.1 19.1 (366 ) (1.8 ) 16.2 Capital requirements – capital adequacy ratio — — 18.0 258 (5.0 ) 13.0 Capital requirements – tier 1 capital adequacy ratio — — 18.0 243 (3.2 ) 14.8 1 Based on management’s explicit forecasts over the short to medium term. 2 Amounts at 31 December 2018 have been updated to align with the 2019 approach to describe the impact of the change in isolation. Considering the interrelationship of the changes set out in the table above, management estimates that the reasonably possible range of VIU is $18.5b n to $22.8 bn (2018: $15.5b n to $19.6b n). T he range is based on the favourable/unfavourable change in the earnings in the short- to medium-term and long-term expected credit losses as a percentage of customer advances as set out in the table above. All other long-term assumptions, the discount rate and the basis of the CMC have been kept unchanged when determining the reasonably possible range of the VIU. Selected financial information of BoCom The statutory accounting reference date of BoCom is 31 December. For the year ended 31 December 2019, HSBC included the associate’s results on the basis of the financial statements for the 12 months ended 30 September 2019, taking into account changes in the subsequent period from 1 October 2019 to 31 December 2019 that would have materially affected the results. Selected balance sheet information of BoCom At 30 Sep 2019 2018 $m $m Cash and balances at central banks 112,239 125,414 Loans and advances to banks and other financial institutions 108,026 102,980 Loans and advances to customers 730,510 686,951 Other financial assets 435,740 408,136 Other assets 40,101 42,106 Total assets 1,426,616 1,365,587 Deposits by banks and other financial institutions 290,492 304,395 Customer accounts 868,627 829,539 Other financial liabilities 131,772 94,900 Other liabilities 23,074 36,332 Total liabilities 1,313,965 1,265,166 Total equity 112,651 100,421 Reconciliation of BoCom’s total shareholders’ equity to the carrying amount in HSBC’s consolidated financial statements At 30 Sep 2019 2018 $m $m HSBC’s share of total shareholders’ equity 18,509 17,275 Goodwill and other intangible assets 473 479 Carrying amount 18,982 17,754 Selected income statement information of BoCom For the 12 months ended 30 Sep 2019 2018 $m $m Net interest income 20,558 19,295 Net fee and commission income 6,411 6,245 Change in expected credit losses and other credit impairment charges (7,479 ) (5,602 ) Depreciation and amortisation (1,934 ) (767 ) Tax expense (1,636 ) (1,554 ) Profit for the year 11,175 11,116 Other comprehensive income 315 190 Total comprehensive income 11,490 11,306 Dividends received from BoCom 613 611 Associates and joint ventures For the year ended 31 December 2019, HSBC’s share of associates’ and joint ventures’ tax on profit was $ 314m (2018: $ 306m ). This is included within ‘Share of profit in associates and joint ventures’ in the consolidated income statement. 20 Structured entities HSBC is mainly involved with both consolidated and unconsolidated structured entities through the securitisation of financial assets, conduits and investment funds, established either by HSBC or a third party. Consolidated structured entities Total assets of HSBC’s consolidated structured entities, split by entity type Conduits Securitisations HSBC Other Total $bn $bn $bn $bn $bn At 31 Dec 2019 8.6 9.6 6.8 6.7 31.7 At 31 Dec 2018 9.2 5.7 6.5 4.4 25.8 Conduits HSBC has established and manages two types of conduits: securities investment conduits (‘SICs’) and multi-seller conduits. Securities investment conduits The SICs purchase highly rated ABSs to facilitate tailored investment opportunities. • At 31 December 2019 , Solitaire, HSBC’s principal SIC, held $2.1b n of ABSs ( 2018 : $2.3b n). It is currently funded entirely by commercial paper (‘CP’) issued to HSBC. Although HSBC continues to provide a liquidity facility, Solitaire has no need to draw on it as long as HSBC purchases its issued CP, which HSBC intends to do for the foreseeable future. At 31 December 2019 , HSBC held $3.2b n of CP ( 2018 : $3.4b n). • As at 31 December 2019, Barion, Malachite and Mazarin are fully redeemed vehicles with no current trading activity. Multi-seller conduit HSBC’s multi-seller conduit was established to provide access to flexible market-based sources of finance for its clients. Currently, HSBC bears risk equal to the transaction-specific facility offered to the multi-seller conduit, amounting to $12.4b n at 31 December 2019 ( 2018 : $16.1b n). First loss protection is provided by the originator of the assets, and not by HSBC, through transaction-specific credit enhancements. A layer of secondary loss protection is provided by HSBC in the form of programme-wide enhancement facilities. Securitisations HSBC uses structured entities to securitise customer loans and advances it originates in order to diversify its sources of funding for asset origination and capital efficiency purposes. The loans and advances are transferred by HSBC to the structured entities for cash or synthetically through credit default swaps, and the structured entities issue debt securities to investors. HSBC managed funds HSBC has established a number of money market and non-money market funds. Where it is deemed to be acting as principal rather than agent in its role as investment manager, HSBC controls these funds. Other HSBC has entered into a number of transactions in the normal course of business, which include asset and structured finance transactions where it has control of the structured entity. In addition, HSBC is deemed to control a number of third-party managed funds through its involvement as a principal in the funds. Unconsolidated structured entities The term ‘unconsolidated structured entities’ refers to all structured entities not controlled by HSBC. The Group enters into transactions with unconsolidated structured entities in the normal course of business to facilitate customer transactions and for specific investment opportunities. Nature and risks associated with HSBC interests in unconsolidated structured entities Securitisations HSBC managed funds Non-HSBC managed funds Other Total Total asset values of the entities ($m) 0–500 91 236 670 70 1,067 500–2,000 12 70 642 7 731 2,000–5,000 — 28 345 — 373 5,000–25,000 — 14 260 — 274 25,000+ — 3 39 2 44 Number of entities at 31 Dec 2019 103 351 1,956 79 2,489 $bn $bn $bn $bn $bn Total assets in relation to HSBC’s interests in the unconsolidated structured entities 5.3 9.1 15.1 4.2 33.7 – trading assets — 0.2 3.5 1.3 5 – financial assets designated and otherwise mandatorily measured at fair value — 8.4 10.7 — 19.1 – loans and advances to customers 5.3 — 0.4 2.3 8 – financial investments — 0.5 0.5 — 1 – other assets — — — 0.6 0.6 Total liabilities in relation to HSBC’s interests in the unconsolidated structured entities — — — 0.3 0.3 – other liabilities — — — 0.3 0.3 Other off-balance sheet commitments 0.3 0.3 3.9 0.7 5.2 HSBC’s maximum exposure at 31 Dec 2019 5.6 9.4 19.0 4.6 38.6 Total asset values of the entities ($m) 0–500 76 243 906 79 1,304 500–2,000 10 56 570 5 641 2,000–5,000 1 17 230 — 248 5,000–25,000 — 5 90 1 96 25,000+ — 2 10 — 12 Number of entities at 31 Dec 2018 87 323 1,806 85 2,301 $bn $bn $bn $bn $bn Total assets in relation to HSBC’s interests in the unconsolidated structured entities 3.8 8.3 8.9 4.7 25.7 – trading assets — 0.1 0.3 1.3 1.7 – financial assets designated and otherwise mandatorily measured at fair value — 7.3 7.9 — 15.2 – loans and advances to customers 3.8 — 0.3 2.7 6.8 – financial investments — 0.9 0.4 0.3 1.6 – other assets — — — 0.4 0.4 Total liabilities in relation to HSBC’s interests in the unconsolidated structured entities — — — 0.2 0.2 – other liabilities — — — 0.2 0.2 Other off-balance sheet commitments 0.8 0.1 3.3 1.0 5.2 HSBC’s maximum exposure at 31 Dec 2018 4.6 8.4 12.2 5.5 30.7 The maximum exposure to loss from HSBC’s interests in unconsolidated structured entities represents the maximum loss it could incur as a result of its involvement with these entities regardless of the probability of the loss being incurred. • For commitments, guarantees and written credit default swaps, the maximum exposure to loss is the notional amount of potential future losses. • For retained and purchased investments in and loans to unconsolidated structured entities, the maximum exposure to loss is the carrying value of these interests at the balance sheet reporting date. The maximum exposure to loss is stated gross of the effects of hedging and collateral arrangements that HSBC has entered into in order to mitigate the Group's exposure to loss. Securitisations HSBC has interests in unconsolidated securitisation vehicles through holding notes issued by these entities. In addition, HSBC has investments in ABSs issued by third-party structured entities. HSBC managed funds HSBC establishes and manages money market funds and non-money market investment funds to provide customers with investment opportunities. Further information on funds under management is provided on page 72 . HSBC, as fund manager, may be entitled to receive management and performance fees based on the assets under management. HSBC may also retain units in these funds. Non-HSBC managed funds HSBC purchases and holds units of third-party managed funds in order to facilitate business and meet customer needs. Other HSBC has established structured entities in the normal course of business, such as structured credit transactions for customers, to provide finance to public and private sector infrastructure projects, and for asset and structured finance transactions. In addition to the interests disclosed above, HSBC enters into derivative contracts, reverse repos and stock borrowing transactions with structured entities. These interests arise in the normal course of business for the facilitation of third-party transactions and risk management solutions. HSBC sponsored structured entities The amount of assets transferred to and income received from such sponsored structured entities during 2019 and 2018 were not significant. 37 HSBC Holdings’ subsidiaries, joint ventures and associates In accordance with section 409 of the Companies Act 2006 a list of HSBC Holdings plc subsidiaries, joint ventures and associates, the registered office addresses and the effective percentages of equity owned at 31 December 2019 are disclosed below. Unless otherwise stated, the share capital comprises ordinary or common shares that are held by Group subsidiaries. The ownership percentage is provided for each undertaking. The undertakings below are consolidated by HSBC unless otherwise indicated. Subsidiaries Subsidiaries % of share class held by immediate parent company (or by the Group where this varies) Footnotes Almacenadora Banpacifico S.A. (In Liquidation) 99.99 15 Assetfinance December (F) Limited 100.00 16 Assetfinance December (H) Limited 100.00 17 Assetfinance December (M) Limited (In Liquidation) 100.00 32 Assetfinance December (P) Limited 100.00 17 Assetfinance December (R) Limited 100.00 17 Assetfinance June (A) Limited 100.00 17 Assetfinance June (D) Limited 100.00 16 Assetfinance Limited 100.00 17 Assetfinance March (B) Limited 100.00 18 Assetfinance March (D) Limited 100.00 16 Assetfinance March (F) Limited 100.00 17 Assetfinance September (F) Limited 100.00 17 Assetfinance September (G) Limited 100.00 16 B&Q Financial Services Limited 100.00 19 Banco Nominees (Guernsey) Limited 100.00 20 Banco Nominees 2 (Guernsey) Limited 100.00 20 Banco Nominees Limited 100.00 21 Beau Soleil Limited Partnership n/a 0, 22 Beijing Miyun HSBC Rural Bank Company Limited 100.00 12, 23 Billingsgate Nominees Limited 100.00 17 Canada Crescent Nominees (UK) Limited 100.00 17 Canada Square Nominees (UK) Limited 100.00 17 Capco/Cove, Inc. 100.00 24 Card-Flo #1, Inc. 100.00 25 Card-Flo #3, Inc. 100.00 26 CC&H Holdings LLC n/a 0, 27 CCF & Partners Asset Management Limited 100.00 (99.99 ) 17 CCF Holding (LIBAN) S.A.L. (In Liquidation) 74.99 28 Charterhouse Administrators ( D.T.) Limited 100.00 (99.99 ) 17 Charterhouse Management Services Limited 100.00 (99.99 ) 17 Charterhouse Pensions Limited 100.00 17 Chongqing Dazu HSBC Rural Bank Company Limited 100.00 12, 29 Chongqing Fengdu HSBC Rural Bank Company Limited 100.00 12, 30 Chongqing Rongchang HSBC Rural Bank Company Limited 100.00 12, 31 CL Residential Limited (In Liquidation) 100.00 32 COIF Nominees Limited n/a 0, 17 Cordico Management AG (In Liquidation) 100.00 33 Dalian Pulandian HSBC Rural Bank Company Limited 100.00 12, 34 Decision One Mortgage Company, LLC n/a 0, 35 Dem 9 100.00 (99.99 ) 4, 36 Dempar 1 100.00 (99.99 ) 37 Desarrollo Turistico, S.A. de C.V. (In Liquidation) 100.00 (99.79 ) 15 Electronic Data Process México, S.A. de C.V. 100.00 15 Elysées Immo Invest 100.00 (99.99 ) 38 Equator Holdings Limited (In Liquidation) 100.00 32 Eton Corporate Services Limited 100.00 20 Far East Leasing SA (In Dissolution) 100.00 39 Finanpar 7 100.00 (99.99 ) 38 Flandres Contentieux S.A. 100.00 (99.99 ) 40 Foncière Elysées 100.00 (99.99 ) 37 Fujian Yongan HSBC Rural Bank Company Limited 100.00 12, 41 Fulcher Enterprises Company Limited 100.00 (62.14 ) 42 Fundacion HSBC, A.C. 100.00 (99.99 ) 11, 15 Giller Ltd. 100.00 24 GPIF Co-Investment, LLC n/a 0, 26 Subsidiaries % of share class held by immediate parent company (or by the Group where this varies) Footnotes Griffin International Limited 100.00 17 Grundstuecksgesellschaft Trinkausstrasse Kommanditgesellschaft n/a 0, 43 Grupo Financiero HSBC, S. A. de C. V. 99.99 15 Guangdong Enping HSBC Rural Bank Company Limited 100.00 12, 44 Hang Seng (Nominee) Limited 100.00 (62.14 ) 42 Hang Seng Bank (China) Limited 100.00 (62.14 ) 45 Hang Seng Bank (Trustee) Limited 100.00 (62.14 ) 42 Hang Seng Bank Limited 62.14 42 Hang Seng Bullion Company Limited 100.00 (62.14 ) 42 Hang Seng Credit Limited 100.00 (62.14 ) 42 Hang Seng Data Services Limited 100.00 (62.14 ) 42 Hang Seng Finance Limited 100.00 (62.14 ) 42 Hang Seng Financial Information Limited 100.00 (62.14 ) 42 Hang Seng Indexes Company Limited 100.00 (62.14 ) 42 Hang Seng Insurance Company Limited 100.00 (62.14 ) 42 Hang Seng Investment Management Limited 100.00 (62.14 ) 42 Hang Seng Investment Services Limited 100.00 (62.14 ) 42 Hang Seng Life Limited 100.00 (62.14 ) 42 Hang Seng Real Estate Management Limited 100.00 (62.14 ) 42 Hang Seng Securities Limited 100.00 (62.14 ) 42 Hang Seng Security Management Limited 100.00 (62.14 ) 42 Haseba Investment Company Limited 100.00 (62.14 ) 42 HFC Bank Limited (In Liquidation) 100.00 32 High Time Investments Limited 100.00 (62.14 ) 42 Honey Green Enterprises Ltd. 100.00 46 Household International Europe Limited (In Liquidation) 100.00 32 Household Pooling Corporation 100.00 47 HRMG Nominees Limited 100.00 20 HSBC (BGF) Investments Limited 100.00 17 HSBC (General Partner) Limited 100.00 2, 48 HSBC (Guernsey) GP PCC Limited 100.00 20 HSBC (Kuala Lumpur) Nominees Sdn Bhd 100.00 49 HSBC (Malaysia) Trustee Berhad 100.00 50 HSBC (Singapore) Nominees Pte Ltd 100.00 51 HSBC Agency (India) Private Limited 100.00 52 HSBC Alternative Investments Limited 100.00 17 HSBC Amanah Malaysia Berhad 100.00 49 HSBC Americas Corporation (Delaware) 100.00 26 HSBC Argentina Holdings S.A. 100.00 53 HSBC Asia Holdings B.V. 100.00 17 HSBC Asia Holdings Limited 100.00 2, 54 HSBC Asia Pacific Holdings (UK) Limited 100.00 17 HSBC Asset Finance (UK) Limited 100.00 17 HSBC Asset Finance Holdings Limited (In Liquidation) 100.00 32 HSBC Asset Finance M.O.G. Holdings (UK) Limited 100.00 17 HSBC Asset Management (India) Private Limited 100.00 55 HSBC Assurances Vie (France) 100.00 (99.99 ) 40 HSBC Australia Holdings Pty Limited 100.00 56 HSBC Bank (Chile) 100.00 57 HSBC Bank (China) Company Limited 100.00 12, 58 HSBC Bank (General Partner) Limited 100.00 48 HSBC Bank (Mauritius) Limited 100.00 59 HSBC Bank (RR) (Limited Liability Company) n/a 0, 13, 60 HSBC Bank (Singapore) Limited 100.00 51 HSBC Bank (Taiwan) Limited 100.00 61 HSBC Bank (Uruguay) S.A. 100.00 62 HSBC Bank (Vietnam) Ltd. 100.00 63 HSBC Bank A.S. 100.00 (99.99 ) 64 Subsidiaries % of share class held by immediate parent company (or by the Group where this varies) Footnotes HSBC Bank Argentina S.A. 99.00 53 HSBC Bank Armenia cjsc 70.00 65 HSBC Bank Australia Limited 100.00 56 HSBC Bank Bermuda Limited 100.00 21 HSBC Bank Canada 100.00 66 HSBC Bank Capital Funding (Sterling 1) LP n/a 0, 48 HSBC Bank Capital Funding (Sterling 2) LP n/a 0, 48 HSBC Bank Egypt S.A.E 94.54 67 HSBC Bank Malaysia Berhad 100.00 49 HSBC Bank Malta p.l.c. 70.03 68 HSBC Bank Middle East Limited 100.00 5, 69 HSBC Bank Middle East Limited Representative Office Morocco SARL (In Liquidation) 100.00 70 HSBC Bank Oman S.A.O.G. 51.00 71 HSBC Bank Pension Trust (UK) Limited 100.00 17 HSBC Bank plc 100.00 17 HSBC Bank USA, National Association 100.00 72 HSBC Branch Nominee (UK) Limited 100.00 16 HSBC Brasil Holding S.A. 100.00 (99.99 ) 73 HSBC Brasil S.A. Banco de Investimento 100.00 (99.99 ) 73 HSBC Broking Forex (Asia) Limited 100.00 54 HSBC Broking Futures (Asia) Limited 100.00 54 HSBC Broking Futures (Hong Kong) Limited 100.00 54 HSBC Broking Securities (Asia) Limited 100.00 54 HSBC Broking Securities (Hong Kong) Limited 100.00 54 HSBC Broking Services (Asia) Limited 100.00 54 HSBC Canadian Covered Bond (Legislative) GP Inc. 100.00 74 HSBC Canadian Covered Bond (Legislative) Guarantor Limited Partnership n/a 0, 74 HSBC Capital (USA), Inc. 100.00 26 HSBC Capital Funding (Dollar 1) L.P. n/a 0, 48 HSBC Capital Limited 100.00 54 HSBC Card Services Inc. 100.00 26 HSBC Casa de Bolsa, S.A. de C.V., Grupo Financiero HSBC 100.00 (99.99 ) 15 HSBC Cayman Limited 100.00 75 HSBC Cayman Services Limited 100.00 76 HSBC City Funding Holdings 100.00 17 HSBC Client Holdings Nominee (UK) Limited 100.00 17 HSBC Client Nominee (Jersey) Limited 100.00 77 HSBC Client Share Offer Nominee (UK) Limited (In Liquidation) 100.00 32 HSBC Columbia Funding, LLC n/a 0, 26 HSBC Corporate Advisory (Malaysia) Sdn Bhd 100.00 49 HSBC Corporate Finance (Hong Kong) Limited 100.00 54 HSBC Corporate Trustee Company (UK) Limited 100.00 17 HSBC Custody Nominees (Australia) Limited 100.00 56 HSBC Custody Services (Guernsey) Limited 100.00 (99.99 ) 20 HSBC Daisy Investments (Mauritius) Limited 100.00 78 HSBC Diversified Loan Fund General Partner Sarl n/a 0, 79 HSBC Electronic Data Processing (Guangdong) Limited 100.00 12, 80 HSBC Electronic Data Processing (Malaysia) Sdn Bhd 100.00 81 HSBC Electronic Data Processing (Philippines), Inc. 99.00 82 HSBC Electronic Data Processing India Private Limited 100.00 (99.99 ) 83 HSBC Electronic Data Processing Lanka (Private) Limited 100.00 (99.99 ) 84 HSBC Electronic Data Service Delivery (Egypt) S.A.E. 100.00 (99.99 ) 85 HSBC Enterprise Investment Company (UK) Limited (In Liquidation) 100.00 32 HSBC Epargne Entreprise (France) 100.00 (99.99 ) 40 Subsidiaries % of share class held by immediate parent company (or by the Group where this varies) Footnotes HSBC Equator (UK) Limited (In Liquidation) 100.00 32 HSBC Equipment Finance (UK) Limited 100.00 16 HSBC Equity (UK) Limited 100.00 17 HSBC Europe B.V. 100.00 (99.99 ) 17 HSBC Executor & Trustee Company (UK) Limited 100.00 16 HSBC Factoring (France) 100.00 (99.99 ) 37 HSBC Finance (Netherlands) 100.00 2, 17 HSBC Finance Corporation 100.00 26 HSBC Finance Limited 100.00 17 HSBC Finance Mortgages Inc. 100.00 86 HSBC Finance Transformation (UK) Limited 100.00 17 HSBC Financial Services (Lebanon) s.a.l. 99.60 87 HSBC Financial Services (Middle East) Limited 100.00 88 HSBC Financial Services (Uruguay) S.A. (In Liquidation) 100.00 89 HSBC France 99.00 37 HSBC Fund Services (Korea) Limited 92.96 90 HSBC Germany Holdings GmbH 100.00 43 HSBC Global Asset Management (Bermuda) Limited 100.00 21 HSBC Global Asset Management (Canada) Limited 100.00 66 HSBC Global Asset Management (Deutschland) GmbH 100.00 (80.67 ) 43 HSBC Global Asset Management (France) 100.00 (99.99 ) 91 HSBC Global Asset Management (Hong Kong) Limited 100.00 22 HSBC Global Asset Management (International) Limited (In Liquidation) 100.00 92 HSBC Global Asset Management (Japan) K. K. 100.00 93 HSBC Global Asset Management (Malta) Limited 100.00 (70.00 ) 94 HSBC Global Asset Management (México), S.A. de C.V., Sociedad Operadora de Fondos de Inversión, Grupo Financiero HSBC 100.00 (99.99 ) 15 HSBC Global Asset Management (Oesterreich) GmbH 100.00 (80.67 ) 6, 95 HSBC Global Asset Management (Singapore) Limited 100.00 51 HSBC Global Asset Management (Switzerland) AG 100.00 (90.33 ) 4, 96 HSBC Global Asset Management (Taiwan) Limited 100.00 97 HSBC Global Asset Management (UK) Limited 100.00 17 HSBC Global Asset Management (USA) Inc. 100.00 98 HSBC Global Asset Management Argentina S.A. Sociedad Gerente de Fondos Comunes de Inversión 100.00 (99.99 ) 99 HSBC Global Asset Management Holdings (Bahamas) Limited 100.00 100 HSBC Global Asset Management Limited 100.00 2, 17 HSBC Global Custody Nominee (UK) Limited 100.00 17 HSBC Global Custody Proprietary Nominee (UK) Limited 100.00 1, 17 HSBC Global Services (Canada) Limited 100.00 101 HSBC Global Services (China) Holdings Limited 100.00 17 HSBC Global Services (Hong Kong) Limited 100.00 54 HSBC Global Services (UK) Limited 100.00 17 HSBC Global Services Limited 100.00 2, 17 HSBC Global Shared Services (India) Private Limited (In Liquidation) 100.00 1, 52 HSBC Group Management Services Limited 100.00 17 HSBC Group Nominees UK Limited 100.00 2, 17 HSBC Holdings B.V. 100.00 17 HSBC IM Pension Trust Limited 100.00 17 HSBC Infrastructure Limited 100.00 17 HSBC INKA Investment-AG TGV 100.00 (80.67 ) 14, 102 HSBC Inmobiliaria (Mexico), S.A. de C.V. 100.00 (99.99 ) 15 HSBC Institutional Trust Services (Asia) Limited 100.00 54 Subsidiaries % of share class held by immediate parent company (or by the Group where this varies) Footnotes HSBC Institutional Trust Services (Bermuda) Limited 100.00 21 HSBC Institutional Trust Services (Mauritius) Limited 100.00 103 |
Goodwill and intangible assets
Goodwill and intangible assets | 12 Months Ended |
Dec. 31, 2019 | |
Intangible Assets [Abstract] | |
Goodwill and intangible assets | 21 Goodwill and intangible assets 2019 2018 Footnotes $m $m Goodwill 5,590 12,986 Present value of in-force long-term insurance business 8,945 7,149 Other intangible assets 1 5,628 4,222 At 31 Dec 20,163 24,357 1 Included within other intangible assets is internally generated software with a net carrying value of $ 4,829m (2018: $ 3,632m ). During the year, capitalisation of internally generated software was $ 2,086m (2018: $ 1,781m ) and amortisation was $ 947m (2018: $ 687m ). Movement analysis of goodwill 2019 2018 $m $m Gross amount At 1 Jan 22,180 22,902 Exchange differences (154 ) (617 ) Other 58 (105 ) At 31 Dec 22,084 22,180 Accumulated impairment losses At 1 Jan (9,194 ) (9,314 ) Impairment losses (7,349 ) — Exchange differences 49 120 At 31 Dec (16,494 ) (9,194 ) Net carrying amount at 31 Dec 5,590 12,986 Impairment testing The Group’s impairment test in respect of goodwill allocated to each cash-generating unit (‘CGU’) is performed at 1 July each year. A review for indicators of impairment is undertaken at each subsequent quarter-end and at 31 December 2019. 31 December 2019 impairment test Having considered the extent of our 2020 business update, current market conditions and their combined potential impact on HSBC’s operations, an interim impairment test was performed at 31 December 2019 for all CGUs. As a result, we recognised $7.3b n of goodwill impairment related to five CGUs: GB&M; Europe – CMB; North America – GPB; Latin America – CMB; and Middle East and North Africa – CMB. Impairment resulted from a combination of factors, including our macroeconomic outlook, a corresponding judgement to reduce the basis of the long-term growth rate assumption used to estimate value in use (‘VIU’), IFRS requirements which limit elements of management-approved forecasts that should be considered when testing goodwill for impairment (see ‘Management’s judgement in estimating cash flows of a CGU’ on page 321 ) and lower forecast profitability in some businesses. Significant inputs to the VIU calculation are discussed in more detail within ‘Basis of the recoverable amount’ on page 321 . Management considered the sensitivity of certain assumptions and the outcome of reasonably possible alternative scenarios. This resulted in full impairment of goodwill for the five CGUs. Impairment results and key assumptions in VIU calculation – impaired CGUs Carrying amount of which goodwill Value in use Impairment Discount rate Growth rate beyond initial cash flow projections $bn $bn $bn $bn % % Cash-generating unit GB&M 60.7 4.0 55.8 4.0 9.5 2.0 Europe – CMB 20.0 2.5 17.5 2.5 9.5 1.8 North America – GPB 0.9 0.4 0.5 0.4 9.5 2.1 Latin America – CMB 1.3 0.3 1.0 0.3 17.0 3.6 Middle East and North Africa – CMB 2.6 0.1 1.5 0.1 13.3 2.4 2019 impairment recognised 7.3 Basis of the recoverable amount The recoverable amount of all CGUs to which goodwill has been allocated was equal to its VIU at each respective testing date. The VIU is calculated by discounting management’s cash flow projections for the CGU. The key assumptions used in the VIU calculation for each individually significant CGU that is not impaired are discussed below. Key assumptions in VIU calculation – significant CGUs at 31 December 2019 Goodwill at 31 Dec 2019 Discount rate Growth rate beyond initial cash flow Goodwill at Discount Nominal growth rate beyond initial cash flow projections Goodwill at Discount rate Nominal growth rate beyond initial cash flow projections $m % % $m % % $m % % Cash-generating unit Europe – RBWM 3,464 8.3 1.7 3,496 8.3 3.2 3,565 8.1 3.8 At 31 December 2019, aggregate goodwill of $2,126m (1 July 2019: $2,938m ; 1 July 2018: $3,061m ) had been allocated to CGUs that were not considered individually significant. The Group’s CGUs do not carry on their balance sheets any significant intangible assets with indefinite useful lives, other than goodwill. Management’s judgement in estimating the cash flows of a CGU The cash flow projections for each CGU are based on plans approved by the Board. The Board challenges and endorses planning assumptions in light of internal capital allocation decisions necessary to support our strategy, current market conditions and macroeconomic outlook. For the 31 December 2019 interim impairment test, cash flow projections until the end of Q1 2024 were considered. As required by IFRSs, estimates of future cash flows exclude estimated cash inflows or outflows that are expected to arise from restructuring initiatives before an entity has a constructive obligation to carry out the plan, and would therefore have recognised a provision for restructuring costs. Our business update includes plans to reduce operating costs by approximately $4.5bn by 2022, incurring costs to achieve these reductions of $6.0bn. Accordingly, we have excluded these components of the plan approved by the Board as they relate to individual CGUs when calculating VIU. Discount rate The rate used to discount the cash flows is based on the cost of capital assigned to each CGU, which is derived using a capital asset pricing model (‘CAPM’). CAPM depends on a number of inputs reflecting financial and economic variables, including the risk-free rate and a premium to reflect the inherent risk of the business being evaluated. These variables are based on the market’s assessment of the economic variables and management’s judgement. The discount rates for each CGU are refined to reflect the rates of inflation for the countries within which the CGU operates. In addition, for the purposes of testing goodwill for impairment, management supplements this process by comparing the discount rates derived using the internally generated CAPM, with the cost of capital rates produced by external sources for businesses operating in similar markets. Long-term growth rate The long-term growth rate is used to extrapolate the cash flows in perpetuity because of the long-term perspective within the Group of business units making up the CGUs. Prior to the 31 December 2019 impairment test, t hese growth rates reflected GDP and inflation (nominal GDP) for the countries within which the CGU operates or from which it derives revenue. At 31 December 2019 we considered the extent to which growth rates based on nominal GDP data remained appropriate given the uncertainty in the macroeconomic environment from the impact of social unrest in Hong Kong, trade disagreements between the US and China and the UK’s withdrawal from the EU. We anticipate that when global growth does stabilise it will be at a slightly lower level than recent years. As a result, we considered it appropriate to base the long-term growth rate assumption on inflation data, moving away from a higher nominal GDP basis. This judgement had a material impact on the goodwill impairment outcome. Sensitivities of key assumptions in calculating VIU At 31 December 2019, Europe – RBWM was sensitive to reasonably possible adverse changes in key assumptions supporting the recoverable amount. In making an estimate of reasonably possible changes to assumptions, management considers the available evidence in respect of each input to the model, such as the external range of discount rates observable, historical performance against forecast and risks attaching to the key assumptions underlying cash flow projections. A reasonable change in a single key assumption may not result in impairment. Though taken together a combination of reasonable changes in key assumptions could result in a recoverable amount that is lower than the CGU’s carrying amount. Input Key assumptions Associated risks Reasonably possible change Cash-generating unit Europe – RBWM Cash flow projections • Level of interest rates and yield curves. • Competitors’ position within the market. • Level and change in unemployment rates. • Uncertain regulatory environment. • Customer remediation and regulatory actions. • Cash flow projections decrease by 30%. This does not result in an impairment. Discount rate • Discount rate used is a reasonable estimate of a suitable market rate for the profile of the business. • External evidence suggests that the rate used is not appropriate to the business. • Discount rate increases by 100 bps. This does not result in an impairment. Sensitivity of VIU to reasonably possible changes in key assumptions and changes to current assumptions to achieve nil headroom Europe – RBWM In $ billions (unless otherwise stated) $bn At 31 December 2019 Carrying amount 10.1 VIU 16.7 Impact on VIU 100 bps increase in the discount rate – single variable (2.3 ) 30% decrease in cash flow projections – single variable (5.6 ) Cumulative impact of all changes (7.1 ) Changes to key assumption to reduce headroom to NIL – single variable Discount rate – bps 397 Cash flows – % (39.4 ) Present value of in-force long-term insurance business When calculating the present value of in-force long-term (‘PVIF’) insurance business, expected cash flows are projected after adjusting for a variety of assumptions made by each insurance operation to reflect local market conditions and management’s judgement of future trends and uncertainty in the underlying assumptions is reflected by applying margins (as opposed to a cost of capital methodology) including valuing the cost of policyholder options and guarantees using stochastic techniques. Actuarial Control Committees of each key insurance entity meet on a quarterly basis to review and approve PVIF assumptions. All changes to non-economic assumptions, economic assumptions that are not observable and model methodologies must be approved by the Actuarial Control Committee. Movements in PVIF 2019 2018 Footnotes $m $m As at 31 Dec 2017 7,149 6,610 Impact on transition to IFRS 9 NA (78 ) At 1 Jan 7,149 6,532 Change in PVIF of long-term insurance business 1,749 673 – value of new business written during the year 1,225 1,117 – expected return 1 (836 ) (719 ) – assumption changes and experience variances (see below) 1,378 292 – other adjustments (18 ) (17 ) Exchange differences and other movements 47 (56 ) At 31 Dec 8,945 7,149 1 ‘Expected return’ represents the unwinding of the discount rate and reversal of expected cash flows for the period. Assumption changes and experience variances Included within this line item are: • $1,126m (2018: $(56)m ), directly offsetting interest rate-driven changes to the valuation of liabilities under insurance contracts. • $36m (2018: $455m ), reflecting the future expected sharing of returns with policyholders on contracts with discretionary participation features (‘DPF’), to the extent this sharing is not already included in liabilities under insurance contracts. • $216m (2018: $(107)m ), driven by other assumptions changes and experience variances. Key assumptions used in the computation of PVIF for main life insurance operations Economic assumptions are set in a way that is consistent with observable market values. The valuation of PVIF is sensitive to observed market movements and the impact of such changes is included in the sensitivities presented below. 2019 2018 Hong Kong France 1 Hong Kong France 1 % % % % Weighted average risk-free rate 1.84 0.44 2.29 1.52 Weighted average risk discount rate 5.44 1.27 5.90 2.35 Expense inflation 3.00 1.70 3.00 1.70 1 For 2019, the calculation of France’s PVIF assumes a risk discount rate of 1.27% (2018: 2.35% ) plus a risk margin of $130m (2018: $109m ). Sensitivity to changes in economic assumptions The Group sets the risk discount rate applied to the PVIF calculation by starting from a risk-free rate curve and adding explicit allowances for risks not reflected in the best-estimate cash flow modelling. Where the insurance operations provide options and guarantees to policyholders the cost of these options and guarantees is an explicit reduction to PVIF, unless it is already allowed for as an explicit addition to the technical provisions required by regulators. For further details of these guarantees and the impact of changes in economic assumptions on our insurance manufacturing subsidiaries, see page 186 . Sensitivity to changes in non-economic assumptions Policyholder liabilities and PVIF are determined by reference to non-economic assumptions, including mortality and/or morbidity, lapse rates and expense rates. For further details on the impact of changes in non-economic assumptions on our insurance manufacturing operations, see page 187 . |
Prepayments, accrued income and
Prepayments, accrued income and other assets | 12 Months Ended |
Dec. 31, 2019 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Prepayments, accrued income and other assets | 22 Prepayments, accrued income and other assets 2019 2018 Footnotes $m $m Prepayments and accrued income 9,057 8,715 Settlement accounts 14,744 13,957 Cash collateral and margin receivables 49,148 33,202 Assets held for sale 123 735 Bullion 14,830 13,753 Endorsements and acceptances 10,198 9,623 Reinsurers’ share of liabilities under insurance contracts (Note 4) 3,592 2,506 Employee benefit assets (Note 5) 8,280 7,934 Right-of-use assets 1 4,222 N/A Owned property, plant and equipment 10,480 10,060 Other accounts 12,006 10,086 At 31 Dec 136,680 110,571 1 Right-of-use assets have been recognised from 1 January 2019 following the adoption of IFRS 16. Comparatives have not been restated. Prepayments, accrued income and other assets include $92,979m (2018: $74,151m ) of financial assets, the majority of which are measured at amortised cost. |
Trading liabilities
Trading liabilities | 12 Months Ended |
Dec. 31, 2019 | |
Financial Instruments [Abstract] | |
Trading liabilities | 23 Trading liabilities 2019 2018 Footnotes $m $m Deposits by banks 1 4,187 4,871 Customer accounts 1 6,999 8,614 Other debt securities in issue (Note 25) 1,404 1,400 Other liabilities – net short positions in securities 70,580 69,546 At 31 Dec 83,170 84,431 1 ‘Deposits by banks’ and ‘Customer accounts’ include repos, stock lending and other amounts. |
Financial liabilties designated
Financial liabilties designated at fair value | 12 Months Ended |
Dec. 31, 2019 | |
Financial Instruments [Abstract] | |
Financial liabilities designated at fair value | 16 Financial investments Carrying amount of financial investments 2019 2018 Footnotes $m $m Financial investments measured at fair value through other comprehensive income 357,577 344,767 – treasury and other eligible bills 95,043 96,642 – debt securities 260,536 246,371 – equity securities 1,913 1,657 – other instruments 1 85 97 Debt instruments measured at amortised cost 2 85,735 62,666 – treasury and other eligible bills 10,476 679 – debt securities 75,259 61,987 At 31 Dec 443,312 407,433 1 ‘Other instruments’ comprises of loans and advances. 2 Fair value $89.1 bn ( 2018 : $62.1 bn). Equity instruments measured at fair value through other comprehensive income Fair value Dividends recognised Type of equity instruments $m $m Investments required by central institutions 738 22 Business facilitation 1,124 19 Others 51 9 At 31 Dec 2019 1,913 50 Investments required by central institutions 848 34 Business facilitation 758 21 Others 51 9 At 31 Dec 2018 1,657 64 Financial investments at amortised cost and fair value 2019 2018 Amortised cost Fair value 1 Amortised cost Fair value 1 Footnotes $m $m $m $m US Treasury 79,633 80,589 54,941 54,763 US Government agencies 2 26,356 26,387 21,058 20,580 US Government-sponsored entities 2 8,070 8,259 12,867 12,701 UK Government 28,621 28,973 20,576 21,083 Hong Kong Government 47,824 47,820 49,956 49,955 Other governments 140,510 142,511 142,495 144,099 Asset-backed securities 3 2,954 2,889 3,579 3,390 Corporate debt and other securities 101,750 107,364 97,286 98,419 Equities 1,241 1,913 1,353 1,657 At 31 Dec 436,959 446,705 404,111 406,647 1 Included within ‘fair value’ figures are debt securities issued by banks and other financial institutions of $ 61 bn ( 2018 : $56 bn), of which $ 11 bn ( 2018 : $8 bn) are guaranteed by various governments. 2 Includes securities that are supported by an explicit guarantee issued by the US Government. 3 Excludes asset-backed securities included under US Government agencies and sponsored entities. Maturities of investments in debt securities at their carrying amount Up to 1 year 1 to 5 years 5 to 10 years Over 10 years Total $m $m $m $m $m Debt securities measured at fair value through other comprehensive income 61,833 123,740 42,831 32,132 260,536 Debt securities measured at amortised cost 5,472 14,395 21,431 33,961 75,259 At 31 Dec 2019 67,305 138,135 64,262 66,093 335,795 Debt securities measured at fair value through other comprehensive income 61,598 124,075 36,194 24,504 246,371 Debt securities measured at amortised cost 2,519 10,086 16,065 33,317 61,987 At 31 Dec 2018 64,117 134,161 52,259 57,821 308,358 Contractual maturities and weighted average yields of investment debt securities Up to 1 year 1 to 5 years 5 to 10 years Over 10 years Amount Yield Amount Yield Amount Yield Amount Yield $m % $m % $m % $m % Debt securities measured at fair value through other comprehensive income US Treasury 6,322 2.1 26,834 2.0 18,208 2.0 3,268 2.9 US Government agencies — — 79 2.2 1 4.7 15,581 2.6 US Government-sponsored agencies 725 2.8 167 3.1 1,940 2.8 2,191 3.0 UK Government 4,681 1.3 4,393 1.1 4,443 0.2 2,811 2.8 Hong Kong Government 559 1.3 145 1.8 152 3.2 — — Other governments 39,144 2.3 54,689 2.8 11,478 1.7 1,862 3.6 Asset-backed securities 18 2.7 1 0.5 325 3.1 2,610 2.2 Corporate debt and other securities 9,735 2.0 34,921 1.8 4,879 2.2 2,795 3.4 Total amortised cost at 31 Dec 2019 61,184 121,229 41,426 31,118 Total carrying value 61,833 123,740 42,831 32,132 Debt securities measured at amortised cost US Treasury 3,010 1.9 4,879 1.8 2,931 1.9 141 4.2 US Government agencies — — 13 3.8 19 3.5 10,286 2.6 US Government-sponsored agencies — — 482 2.7 551 2.3 2,015 3.2 Hong Kong Government 10 1.6 20 1.6 9 1.4 — — Other governments 128 4.4 552 3.4 487 3.1 832 4.2 Asset-backed securities — — — — — — 2 7.5 Corporate debt and other securities 2,324 3.5 8,449 3.4 17,434 3.3 20,685 3.8 Total amortised cost at 31 Dec 2019 5,472 14,395 21,431 33,961 Total carrying value 5,472 14,395 21,431 33,961 The maturity distributions of ABSs are presented in the above table on the basis of contractual maturity dates. The weighted average yield for each range of maturities is calculated by dividing the annualised interest income for the year ended 31 December 2019 by the book amount of debt securities at that date. The yields do not include the effect of related derivatives. HSBC Holdings HSBC Holdings carrying amount of financial investments 2019 2018 Footnotes $m $m Debt instruments measured at amortised cost 1 – treasury and other eligible bills 10,081 — – debt securities 6,025 — At 31 Dec 16,106 — 1 The 2019 period includes $ 16.1b n (2018: nil ) of investments in highly liquid securities. Financial investments at amortised cost and fair value 2019 2018 Amortised cost Fair value Amortised cost Fair value $m $m $m $m US Treasury 16,106 16,121 — — US Government agencies — — — — US Government-sponsored entities — — — — At 31 Dec 16,106 16,121 — — Maturities of investments in debt securities at their carrying amount Up to 1 year 1 to 5 years 5 to 10 years Over 10 years Total $m $m $m $m $m Debt securities measured at amortised cost 3,010 3,015 — — 6,025 At 31 Dec 2019 3,010 3,015 — — 6,025 Debt securities measured at amortised cost — — — — — At 31 Dec 2018 — — — — — Contractual maturities and weighted average yields of investment debt securities Up to 1 year 1 to 5 years 5 to 10 years Over 10 years Amount Yield Amount Yield Amount Yield Amount Yield $m % $m % $m % $m % Debt securities measured at amortised cost US Treasury 3,010 1.9 3,015 1.7 — — — — US Government agencies — — — — — — — — US Government-sponsored agencies — — — — — — — — Total amortised cost at 31 Dec 2019 3,010 3,015 — — Total carrying value 3,010 3,015 — — The weighted average yield for each range of maturities is calculated by dividing the annualised interest income for the year ended 31 December 2019 by the book amount of debt securities at that date. The yields do not include the effect of related derivatives. 24 Financial liabilities designated at fair value HSBC 2019 2018 Footnotes $m $m Deposits by banks and customer accounts 1 17,660 19,003 Liabilities to customers under investment contracts 5,893 5,458 Debt securities in issue (Note 25) 130,364 109,351 Subordinated liabilities (Note 28) 10,130 14,282 Preferred securities (Note 28) 419 411 At 31 Dec 164,466 148,505 1 Structured deposits placed at HSBC Bank USA and HSBC Trust Company (Delaware) National Association are insured by the Federal Deposit Insurance Corporation, a US government agency, up to $250,000 per depositor. The carrying amount of financial liabilities designated at fair value was $6,120 m more than the contractual amount at maturity ( 2018 : $11,496 m less). The cumulative amount of change in fair value attributable to changes in credit risk was a loss of $2,877 m ( 2018 : loss of $209 m). HSBC Holdings 2019 2018 $m $m Debt securities in issue (Note 25) 24,687 17,767 Subordinated liabilities (Note 28) 5,616 7,282 At 31 Dec 30,303 25,049 The carrying amount of financial liabilities designated at fair value was $ 2,227m more than the contractual amount at maturity 920m more). The cumulative amount of change in fair value attributable to changes in credit risk was a loss of $ 1,386m (2018: loss of $812m ). 29 Maturity analysis of assets, liabilities and off-balance sheet commitments The table on page 330 provides an analysis of consolidated total assets, liabilities and off-balance sheet commitments by residual contractual maturity at the balance sheet date. These balances are included in the maturity analysis as follows: • Trading assets and liabilities (including trading derivatives but excluding reverse repos, repos and debt securities in issue) are included in the ‘Due not more than 1 month’ time bucket, because trading balances are typically held for short periods of time. • Financial assets and liabilities with no contractual maturity (such as equity securities) are included in the ‘Due over 5 years’ time bucket. Undated or perpetual instruments are classified based on the contractual notice period, which the counterparty of the instrument is entitled to give. Where there is no contractual notice period, undated or perpetual contracts are included in the ‘Due over 5 years’ time bucket. • Non-financial assets and liabilities with no contractual maturity are included in the ‘Due over 5 years’ time bucket. • Financial instruments included within assets and liabilities of disposal groups held for sale are classified on the basis of the contractual maturity of the underlying instruments and not on the basis of the disposal transaction. • Liabilities under insurance contracts are included in the ‘Due over 5 years’ time bucket. Liabilities under investment contracts are classified in accordance with their contractual maturity. Undated investment contracts are included in the ‘Due over 5 years’ time bucket, although such contracts are subject to surrender and transfer options by the policyholders. • Loan and other credit-related commitments are classified on the basis of the earliest date they can be drawn down. HSBC Maturity analysis of assets, liabilities and off-balance sheet commitments Due not Due over Due over Due over Due over Due over Due over Due over Total $m $m $m $m $m $m $m $m $m Financial assets Cash and balances at central banks 154,099 — — — — — — — 154,099 Items in the course of collection from other banks 4,956 — — — — — — — 4,956 Hong Kong Government certificates of indebtedness 38,380 — — — — — — — 38,380 Trading assets 252,009 644 412 62 452 152 540 — 254,271 Financial assets designated or otherwise mandatorily measured at fair value 4,846 74 381 200 422 780 2,356 34,568 43,627 Derivatives 241,941 150 24 27 22 112 294 425 242,995 Loans and advances to banks 41,554 7,826 4,877 2,592 2,859 6,848 2,005 642 69,203 Loans and advances to customers 190,675 82,379 61,254 36,005 36,755 106,203 227,811 295,661 1,036,743 – personal 51,893 14,547 8,562 7,245 6,931 22,923 66,761 252,275 431,137 – corporate and commercial 118,585 61,629 45,924 25,006 25,069 71,751 147,139 39,958 535,061 – financial 20,197 6,203 6,768 3,754 4,755 11,529 13,911 3,428 70,545 Reverse repurchase agreements 164,741 38,997 17,933 8,226 6,305 2,298 2,362 — 240,862 Financial investments 36,128 64,472 35,795 17,485 18,202 48,427 90,193 132,610 443,312 Accrued income and other financial assets 80,661 5,544 2,532 915 495 432 363 2,037 92,979 Financial assets at 31 Dec 2019 1,209,990 200,086 123,208 65,512 65,512 165,252 325,924 465,943 2,621,427 Non-financial assets — — — — — — — 93,725 93,725 Total assets at 31 Dec 2019 1,209,990 200,086 123,208 65,512 65,512 165,252 325,924 559,668 2,715,152 Off-balance sheet commitments received Loan and other credit-related commitments 63,199 — — — — — — — 63,199 Financial liabilities Hong Kong currency notes in circulation 38,380 — — — — — — — 38,380 Deposits by banks 46,397 4,167 2,773 454 844 2,455 876 1,056 59,022 Customer accounts 1 1,287,358 81,038 38,343 11,530 11,342 5,275 4,075 154 1,439,115 – personal 646,843 49,405 29,320 8,484 6,852 3,631 2,646 71 747,252 – corporate and commercial 479,763 24,214 7,162 2,621 3,009 1,119 1,388 41 519,317 – financial 160,752 7,419 1,861 425 1,481 525 41 42 172,546 Repurchase agreements 132,042 3,402 1,579 1,882 59 354 2 1,024 140,344 Items in the course of transmission to other banks 4,817 — — — — — — — 4,817 Trading liabilities 82,130 209 265 148 102 287 29 — 83,170 Financial liabilities designated at 12,844 4,667 4,236 4,552 5,196 26,081 43,534 63,356 164,466 – debt securities in issue: covered bonds — — — — 1,139 — 2,663 1,159 4,961 – debt securities in issue: unsecured 8,884 2,046 2,946 3,757 3,030 22,950 34,753 47,036 125,402 – subordinated liabilities and preferred securities 23 — — — — — 2,131 8,396 10,550 – other 3,937 2,621 1,290 795 1,027 3,131 3,987 6,765 23,553 Derivatives 237,901 105 73 10 18 68 540 782 239,497 Debt securities in issue 8,183 17,374 12,799 13,152 11,382 14,572 20,048 7,045 104,555 – covered bonds — — — — — 749 998 — 1,747 – otherwise secured 2,015 2 248 161 — 219 958 1,663 5,266 – unsecured 6,168 17,372 12,551 12,991 11,382 13,604 18,092 5,382 97,542 Accruals and other financial liabilities 87,796 9,078 3,914 1,244 2,058 1,592 2,823 2,890 111,395 Subordinated liabilities 1,502 — 22 1,993 100 755 424 19,804 24,600 Total financial liabilities at 31 Dec 2019 1,939,350 120,040 64,004 34,965 31,101 51,439 72,351 96,111 2,409,361 Non-financial liabilities — — — — — — — 113,123 113,123 Total liabilities at 31 Dec 2019 1,939,350 120,040 64,004 34,965 31,101 51,439 72,351 209,234 2,522,484 Off-balance sheet commitments given Loan and other credit-related commitments 794,336 600 590 313 551 442 458 318 797,608 – personal 221,952 40 39 56 167 208 392 299 223,153 – corporate and commercial 460,569 117 96 52 381 218 66 19 461,518 – financial 111,815 443 455 205 3 16 — — 112,937 Maturity analysis of assets, liabilities and off-balance sheet commitments (continued) Due not more than 1 month Due over 1 month but not more than 3 months Due over 3 months but not more than 6 months Due over 6 months but not more than 9 months Due over 9 months but not more than 1 year Due over 1 year but not more than 2 years Due over 2 years but not more than 5 years Due over 5 years Total $m $m $m $m $m $m $m $m $m Financial assets Cash and balances at central banks 162,843 — — — — — — — 162,843 Items in the course of collection from other banks 5,787 — — — — — — — 5,787 Hong Kong Government certificates of indebtedness 35,859 — — — — — — — 35,859 Trading assets 235,443 264 707 744 104 197 671 — 238,130 Financial assets designated at fair value 7,743 49 371 145 334 918 2,415 29,136 41,111 Derivatives 206,925 15 57 79 18 69 328 334 207,825 Loans and advances to banks 40,114 10,421 3,486 2,004 3,282 7,158 4,508 1,194 72,167 Loans and advances to customers 178,613 72,072 58,680 38,394 37,333 101,267 219,841 275,496 981,696 – personal 41,967 8,736 8,237 7,581 7,240 24,942 63,061 229,626 391,390 – corporate and commercial 118,294 58,623 45,918 27,001 25,597 67,093 143,959 42,540 529,025 – financial 18,352 4,713 4,525 3,812 4,496 9,232 12,821 3,330 61,281 Reverse repurchase agreements – non-trading 172,795 41,084 13,308 5,763 3,574 5,253 1,027 — 242,804 Financial investments 40,421 58,731 30,464 15,707 15,357 41,866 92,846 112,041 407,433 Accrued income and other financial assets 62,067 6,893 2,403 561 307 349 731 2,237 75,548 Financial assets at 31 Dec 2018 1,148,610 189,529 109,476 63,397 60,309 157,077 322,367 420,438 2,471,203 Non-financial assets — — — — — — — 86,921 86,921 Total assets at 31 Dec 2018 1,148,610 189,529 109,476 63,397 60,309 157,077 322,367 507,359 2,558,124 Off-balance sheet commitments received Loan and other credit-related commitments 73,464 — — — 1 3 98 656 74,222 Financial liabilities Hong Kong currency notes in circulation 35,859 — — — — — — — 35,859 Deposits by banks 42,406 3,457 1,043 784 542 5,558 1,655 886 56,331 Customer accounts 1 1,225,919 66,990 31,315 17,218 13,760 4,122 3,194 125 1,362,643 – personal 612,325 38,132 21,218 11,483 8,282 2,853 2,623 53 696,969 – corporate and commercial 457,661 22,922 8,029 4,599 4,317 1,092 509 29 499,158 – financial 155,933 5,936 2,068 1,136 1,161 177 62 43 166,516 Repurchase agreements – non-trading 154,383 8,140 1,750 629 73 408 501 — 165,884 Items in the course of transmission to other banks 5,641 — — — — — — — 5,641 Trading liabilities 82,867 251 326 633 81 235 36 2 84,431 Financial liabilities designated at fair value 3,813 4,476 6,878 3,076 3,481 12,545 53,615 60,621 148,505 – debt securities in issue: covered bonds — — 205 — — 1,190 2,721 1,137 5,253 – debt securities in issue: unsecured 981 1,562 2,659 2,290 2,353 9,143 47,443 37,633 104,064 – subordinated liabilities and preferred securities — — 2,125 — — — — 12,568 14,693 – other 2,832 2,914 1,889 786 1,128 2,212 3,451 9,283 24,495 Derivatives 203,962 62 135 191 144 560 159 622 205,835 Debt securities in issue 6,777 11,194 12,556 8,075 3,330 10,670 19,713 13,027 85,342 – covered bonds — — — — — — 748 — 748 – otherwise secured 2,166 1,100 30 — — 394 944 1,412 6,046 – unsecured 4,611 10,094 12,526 8,075 3,330 10,276 18,021 11,615 78,548 Accruals and other financial liabilities 69,958 8,986 3,296 659 1,269 885 1,027 1,300 87,380 Subordinated liabilities 6 89 3 — — 1,996 1,384 18,959 22,437 Total financial liabilities at 31 Dec 2018 1,831,591 103,645 57,302 31,265 22,680 36,979 81,284 95,542 2,260,288 Non-financial liabilities — — — — — — — 103,587 103,587 Total liabilities at 31 Dec 2018 1,831,591 103,645 57,302 31,265 22,680 36,979 81,284 199,129 2,363,875 Off-balance sheet commitments given Loan and other credit-related commitments 769,311 5,281 941 1,972 1,257 361 731 412 780,266 – personal 203,622 974 59 32 201 280 556 331 206,055 – corporate and commercial 441,199 2,694 799 1,895 974 34 150 73 447,818 – financial 124,490 1,613 83 45 82 47 25 8 126,393 1 ‘Customer accounts’ includes $ 408,090m (2018: $364,729m ) insured by guarantee schemes. HSBC Holdings Maturity analysis of assets, liabilities and off-balance sheet commitments (continued) Due not more than 1 month Due over 1 month but not more than 3 months Due over 3 months but not more than 6 months Due over 6 months but not more than 9 months Due over 9 months but not more than 1 year Due over 1 year but not more than 2 years Due over 2 years but not more than 5 years Due over 5 years Total $m $m $m $m $m $m $m $m $m Financial assets Cash at bank and in hand: – balances with HSBC undertakings 2,382 — — — — — — — 2,382 Derivatives 596 — — — — — 230 1,176 2,002 Loans and advances to HSBC undertakings 102 672 120 25 — 600 1,909 6,790 10,218 Financial assets with HSBC undertakings designated and otherwise mandatorily measured at fair value — — — — — 458 24,845 36,661 61,964 Financial investments 2,754 3,493 1,873 2,251 2,721 3,014 — — 16,106 Accrued income and other financial assets 93 277 97 48 16 12 — — 543 Total financial assets at 5,927 4,442 2,090 2,324 2,737 4,084 26,984 44,627 93,215 Non-financial assets — — — — — — — 162,025 162,025 Total assets at 31 Dec 2019 5,927 4,442 2,090 2,324 2,737 4,084 26,984 206,652 255,240 Financial liabilities Amounts owed to HSBC undertakings — 464 — — — — — — 464 Financial liabilities designated at fair value — — — — — 5,651 6,710 17,942 30,303 – debt securities in issue — — — — — 5,651 6,710 12,326 24,687 – subordinated liabilities and preferred securities — — — — — — — 5,616 5,616 Derivatives 1,838 — — — — 20 85 78 2,021 Debt securities in issue — — — — — 10,134 23,786 22,924 56,844 Accruals and other financial liabilities 900 574 303 55 10 — — 35 1,877 Subordinated liabilities 1,503 — — — — — 2,076 14,782 18,361 31 Dec 2019 4,241 1,038 303 55 10 15,805 32,657 55,761 109,870 Non-financial liabilities — — — — — — — 326 326 Total liabilities at 31 Dec 2019 4,241 1,038 303 55 10 15,805 32,657 56,087 110,196 Off-balance sheet commitments given Undrawn formal standby facilities, credit lines and other commitments to lend — — — — — — — — — Maturity analysis of assets, liabilities and off-balance sheet commitments (continued) Due not more than 1 month Due over 1 month but not more than 3 months Due over 3 months but not more than 6 months Due over 6 months but not more than 9 months Due over 9 months but not more than 1 year Due over 1 year but not more than 2 years Due over 2 years but not more than 5 years Due over 5 years Total $m $m $m $m $m $m $m $m $m Financial assets Cash at bank and in hand: – balances with HSBC undertakings 3,509 — — — — — — — 3,509 Derivatives 540 — — — — — — 167 707 Loans and advances to HSBC undertakings 3,052 11,563 158 968 1 — 14,062 26,340 56,144 Loans and advances to HSBC undertakings designated at fair value — — — — — — 8,116 15,397 23,513 Financial investments in HSBC undertakings — — — — — — — — — Accrued income and other financial assets 33 27 — — — — — 60 Total financial assets at 31 Dec 2018 7,134 11,590 158 968 1 — 22,178 41,904 83,933 Non-financial assets — — — — — — — 161,248 161,248 Total assets at 31 Dec 2018 7,134 11,590 158 968 1 — 22,178 203,152 245,181 Financial liabilities Amounts owed to HSBC undertakings — 949 — — — — — — 949 Financial liabilities designated at fair value — — 2,125 — — — 12,306 10,618 25,049 – debt securities in issue — — — — — — 12,306 5,461 17,767 – subordinated liabilities and preferred securities — — 2,125 — — — — 5,157 7,282 Derivatives 1,321 — — — — — 339 499 2,159 Debt securities in issue — — — — — — 23,770 27,030 50,800 Accruals and other financial liabilities 319 353 188 36 5 — — 41 942 Subordinated liabilities — — — — — — — 17,715 17,715 Total financial liabilities at 31 Dec 2018 1,640 1,302 2,313 36 5 — 36,415 55,903 97,614 Non-financial liabilities — — — — — — — 214 214 Total liabilities at 31 Dec 2018 1,640 1,302 2,313 36 5 — 36,415 56,117 97,828 Off-balance sheet commitments given Undrawn formal standby facilities, credit lines and other commitments to lend — — — — — — — — — Contractual maturity of financial liabilities The following table shows, on an undiscounted basis, all cash flows relating to principal and future coupon payments (except for trading liabilities and derivatives not treated as hedging derivatives). For this reason, balances in the following table do not agree directly with those in our consolidated balance sheet. Undiscounted cash flows payable in relation to hedging derivative liabilities are classified according to their contractual maturities. Trading liabilities and derivatives not treated as hedging derivatives are included in the ‘Due not more than 1 month’ time bucket and not by contractual maturity. In addition, loans and other credit-related commitments and financial guarantees are generally not recognised on our balance sheet. The undiscounted cash flows potentially payable under loan and other credit-related commitments and financial guarantees are classified on the basis of the earliest date they can be called. Cash flows payable by HSBC under financial liabilities by remaining contractual maturities Due not more than 1 month Due over 1 month but not more than 3 months Due over 3 months but not more than 1 year Due over 1 year but not more than 5 years Due over Total $m $m $m $m $m $m Deposits by banks 46,471 4,167 4,227 3,371 1,084 59,320 Customer accounts 1,288,577 81,037 62,105 9,900 191 1,441,810 Repurchase agreements – non-trading 132,156 3,403 3,565 368 1,036 140,528 Trading liabilities 83,170 — — — — 83,170 Financial liabilities designated at fair value 13,447 4,666 14,747 76,155 68,045 177,060 Derivatives 237,897 105 522 1,076 1,691 241,291 Debt securities in issue 8,757 17,374 38,423 36,584 8,177 109,315 Subordinated liabilities 1,847 — 2,908 5,197 27,892 37,844 Other financial liabilities 127,898 9,079 6,792 5,637 2,992 152,398 1,940,220 119,831 133,289 138,288 111,108 2,442,736 Loan and other credit-related commitments 795,243 601 561 886 317 797,608 Financial guarantees 1 20,007 37 102 68 — 20,214 At 31 Dec 2019 2,755,470 120,469 133,952 139,242 111,425 3,260,558 Proportion of cash flows payable in period 85% 4% 4% 4% 3% Deposits by banks 42,569 3,457 2,419 7,507 556 56,508 Customer accounts 1,226,828 66,990 62,963 7,617 130 1,364,528 Repurchase agreements – non-trading 154,541 8,140 2,487 950 — 166,118 Trading liabilities 84,431 — — — — 84,431 Financial liabilities designated at fair value 4,478 4,476 15,591 75,578 89,261 189,384 Derivatives 204,360 62 927 2,065 1,323 208,737 Debt securities in issue 7,295 11,194 24,902 36,599 13,656 93,646 Subordinated liabilities 349 89 793 7,600 27,670 36,501 Other financial liabilities 110,337 8,987 4,694 2,367 1,260 127,645 1,835,188 103,395 114,776 140,283 133,856 2,327,498 Loan and other credit-related commitments 772,557 5,279 1,109 944 377 780,266 Financial guarantees 1 22,942 113 289 160 14 23,518 At 31 Dec 2018 2,630,687 108,787 116,174 141,387 134,247 3,131,282 Proportion of cash flows payable in period 84% 3% 4% 5% 4% 1 Excludes performance guarantee contracts to which the impairment requirements in IFRS 9 are not applied. HSBC Holdings HSBC Holdings’ primary sources of liquidity are dividends received from subsidiaries, interest on and repayment of intra-Group loans and securities, and interest earned on its own liquid funds. HSBC Holdings also raises funds in the debt capital markets to meet the Group’s minimum requirement for own funds and eligible liabilities. HSBC Holdings uses this liquidity to meet its obligations, including interest and principal repayments on external debt liabilities, operating expenses and collateral on derivative transactions. HSBC Holdings is also subject to contingent liquidity risk by virtue of credit-related commitments and guarantees and similar contracts issued relating to its subsidiaries. Such commitments and guarantees are only issued after due consideration of HSBC Holdings’ ability to finance the commitments and guarantees and the likelihood of the need arising. HSBC Holdings actively manages the cash flows from its subsidiaries to optimise the amount of cash held at the holding company level. During 2019, consistent with the Group’s capital plan, the Group’s subsidiaries did not experience any significant restrictions on paying dividends or repaying loans and advances. Also, there are no foreseen restrictions envisaged with regard to planned dividends or payments. However, the ability of subsidiaries to pay dividends or advance monies to HSBC Holdings depends on, among other things, their respective local regulatory capital and banking requirements, exchange controls, statutory reserves, and financial and operating performance. HSBC Holdings currently has sufficient liquidity to meet its present requirements. Liquidity risk in HSBC Holdings is overseen by Holdings ALCO. This risk arises because of HSBC Holdings’ obligation to make payments to debt holders as they fall due and to pay its operating expenses. The liquidity risk related to these cash flows is managed by matching external debt obligations with internal loan cash flows and by maintaining an appropriate liquidity buffer that is monitored by Holdings ALCO. The balances in the following table are not directly comparable with those on the balance sheet of HSBC Holdings as the table incorporates, on an undiscounted basis, all cash flows relating to principal and future coupon payments (except for derivatives not treated as hedging derivatives). Undiscounted cash flows payable in relation to hedging derivative liabilities are classified according to their contractual maturities. Derivatives not treated as hedging derivatives are included in the ‘On demand’ time bucket. In addition, loan commitments and financial guarantees and similar contracts are generally not recognised on our balance sheet. The undiscounted cash flows potentially payable under financial guarantees and similar contracts are classified on the basis of the earliest date on which they can be called. Cash flows payable by HSBC Holdings under financial liabilities by remaining contractual maturities Due not more than 1 month Due over 1 month but not more than 3 months Due over 3 months but not more than 1 year Due over 1 year but not more than 5 years Due over Total Footnotes $m $m $m $m $m $m Amounts owed to HSBC undertakings — 464 — — — 464 Financial liabilities designated at fair value 88 168 784 14,776 18,184 34,000 Derivatives 1,838 — — 105 78 2,021 Debt securities in issue 128 244 1,137 38,690 25,310 65,509 Subordinated liabilities 1,588 154 718 5,743 21,533 29,736 Other financial liabilities 956 519 365 — — 1,840 4,598 1,549 3,004 59,314 65,105 133,570 Loan commitments — — — — — — Financial guarantees 1 11,061 — — — — 11,061 At 31 Dec 2019 15,659 1,549 3,004 59,314 65,105 144,631 Amounts owed to HSBC undertakings — 949 — — — 949 Financial liabilities designated at fair value — 237 2,656 14,384 11,653 28,930 Derivatives 1,321 — — 339 499 2,159 Debt securities in issue — 379 1,159 29,178 30,801 61,517 Subordinated liabilities — 248 757 4,019 25,311 30,335 Other financial liabilities — 675 228 — — 903 1,321 2,488 4,800 47,920 68,264 124,793 Loan commitments — — — — — — Financial guarantees 1 8,627 — — — — 8,627 At 31 Dec 2018 9,948 2,488 4,800 47,920 68,264 133,420 1 Excludes performance guarantee contracts to which the impairment requirements in IFRS 9 are not applied. 30 Offsetting of financial assets and financial liabilities In the following table, the ‘Amounts not set off in the balance sheet’ include transactions where: • the counterparty has an offsetting exposure with HSBC and a master netting or similar arrangement is in place with a right to set off only in the event of default, insolvency or bankruptcy, or the offset criteria are otherwise not satisfied; and • in the case of derivatives and reverse repurchase/repurchase, stock borrowing/lending and similar agreements, cash and non-cash collateral has been received/pledged. For risk management purposes, the net amounts of loans and advances to customers are subject to limits, which are monitored and the relevant customer agreements are subject to review and updated, as necessary, to ensure the legal right to set off remains appropriate. Offsetting of financial assets and financial liabilities Amounts subject to enforceable netting arrangements Amounts not subject to enforceable netting arrangements 5 Total Amounts not set off in the balance sheet Gross amounts Amounts offset Net amounts in the balance sheet Financial instruments Non-cash collateral Cash collateral Net amount Footnotes $m $m $m $m $m $m $m $m $m Financial assets Derivatives (Note 15) 1 277,261 (41,739 ) 235,522 (171,371 ) (13,095 ) (47,404 ) 3,652 7,473 242,995 Reverse repos, stock borrowing and similar agreements classified as: 2 – trading assets 21,465 (280 ) 21,185 (1,553 ) (19,630 ) — 2 165 21,350 – non-trading assets 348,561 (134,772 ) 213,789 (28,826 ) (184,495 ) (189 ) 279 27,549 241,338 Loans and advances to customers 3 33,039 (10,128 ) 22,911 (18,893 ) — — 4,018 735 23,646 At 31 Dec 2019 680,326 (186,919 ) 493,407 (220,643 ) (217,220 ) (47,593 ) 7,951 35,922 529,329 Derivatives (Note 15) 1 250,275 (49,711 ) 200,564 (145,785 ) (9,986 ) (38,031 ) 6,762 7,261 207,825 Reverse repos, stock borrowing and similar agreements classified as: 2 – trading assets 18,217 (790 ) 17,427 (1,244 ) (16,179 ) — 4 853 18,280 – non-trading assets 372,358 (167,313 ) 205,045 (21,788 ) (182,995 ) (100 ) 162 37,759 242,804 Loans and advances to customers 3 40,534 (12,468 ) 28,066 (21,245 ) — — 6,821 536 28,602 At 31 Dec 2018 681,384 (230,282 ) 451,102 (190,062 ) (209,160 ) (38,131 ) 13,749 46,409 497,511 Financial liabilities Derivatives (Note 15) 1 275,286 (41,739 ) 233,547 (171,371 ) (20,137 ) (37,844 ) 4,195 5,950 239,497 Repos, stock lending and similar agreements classified as: 2 – trading liabilities 10,494 (280 ) 10,214 (1,553 ) (8,656 ) — 5 46 10,260 – non-trading liabilities 232,675 (134,772 ) 97,903 (28,826 ) (68,638 ) (357 ) 82 42,441 140,344 Customer accounts 4 36,750 (10,128 ) 26,622 (18,893 ) — — 7,729 31 26,653 At 31 Dec 2019 555,205 (186,919 ) 368,286 (220,643 ) (97,431 ) (38,201 ) 12,011 48,468 416,754 Derivatives (Note 15) 1 248,123 (49,711 ) 198,412 (145,785 ) (14,895 ) (29,998 ) 7,734 7,423 205,835 Repos, stock lending and similar agreements classified as: 2 – trading liabilities 13,169 (790 ) 12,379 (1,244 ) (11,133 ) — 2 114 12,493 – non-trading liabilities 274,367 (167,313 ) 107,054 (21,788 ) (85,087 ) (164 ) 15 58,830 165,884 Customer accounts 4 40,286 (12,468 ) 27,818 (21,245 ) — — 6,573 11 27,829 At 31 Dec 2018 575,945 (230,282 ) 345,663 (190,062 ) (111,115 ) (30,162 ) 14,324 66,378 412,041 1 At 31 December 2019, the amount of cash margin received that had been offset against the gross derivatives assets was $2,350m (2018: $3,935m ). The amount of cash margin paid that had been offset against the gross derivatives liabilities was $8,303m (2018: $5,888m ). 2 For the amount of repos, reverse repos, stock lending, stock borrowing and similar agreements recognised on the balance sheet within ‘Trading assets’ $ 21,350m (2018: $ 18,280m ) and ‘Trading liabilities’ $ 10,260m (2018: $ 12,493m ), see the ‘Funding sources and uses’ table on page 169 . 3 At 31 December 2019, the total amount of ‘Loans and advances to customers’ was $ 1,036,743m (2018: $ 981,696m ), of which $ 22,911m (2018: $ 28,066m ) was subject to offsetting. 4 At 31 December 2019, the total amount of ‘Customer accounts’ was $ 1,439,115m (2018: $ 1,362,643m ), of which $ 26,622m (2018: $ 27,818m ) was subject to offsetting. 5 These exposures continue to be se |
Debt securities in issue
Debt securities in issue | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure Of Debt Securities In Issue [Abstract] | |
Debt securities in issue | 25 Debt securities in issue HSBC 2019 2018 $m $m Bonds and medium-term notes 180,969 162,277 Other debt securities in issue 55,354 33,816 Total debt securities in issue 236,323 196,093 Included within: – trading liabilities (Note 23) (1,404 ) (1,400 ) – financial liabilities designated at fair value (Note 24) (130,364 ) (109,351 ) At 31 Dec 104,555 85,342 HSBC Holdings 2019 2018 $m $m Debt securities 81,531 68,567 Included within: – financial liabilities designated at fair value (Note 24) (24,687 ) (17,767 ) At 31 Dec 56,844 50,800 |
Accruals, deferred income and o
Accruals, deferred income and other liabilities | 12 Months Ended |
Dec. 31, 2019 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Accruals, deferred income and other liabilities | 26 Accruals, deferred income and other liabilities 2019 2018 $m $m Accruals and deferred income 11,808 11,296 Settlement accounts 14,356 13,022 Cash collateral and margin payables 56,646 41,044 Endorsements and acceptances 10,127 9,633 Employee benefit liabilities (Note 5) 1,771 2,167 Lease liabilities 1 4,604 N/A Other liabilities 18,844 20,218 At 31 Dec 118,156 97,380 1 Lease liabilities have been recognised from 1 January 2019 following the adoption of IFRS 16. Comparatives have not been restated. Accruals, deferred income and other liabilities include $ 111,395m (2018: $ 87,390m ) of financial liabilities, the majority of which are measured at amortised cost. |
Provisions
Provisions | 12 Months Ended |
Dec. 31, 2019 | |
Other Provisions, Contingent Liabilities And Contingent Assets [Abstract] | |
Provisions | 27 Provisions Restructuring Legal proceedings Customer Other Total $m $m $m $m $m Provisions (excluding contractual commitments) At 1 Jan 2019 130 1,128 788 357 2,403 Additions 402 282 1,674 223 2,581 Amounts utilised (203 ) (660 ) (837 ) (81 ) (1,781 ) Unused amounts reversed (34 ) (158 ) (49 ) (108 ) (349 ) Exchange and other movements 61 13 70 (111 ) 33 At 31 Dec 2019 356 605 1,646 280 2,887 Contractual commitments 1 At 1 Jan 2019 517 Net change in expected credit loss provision and other movements (6 ) At 31 Dec 2019 511 Total provisions At 31 Dec 2018 2,920 At 31 Dec 2019 3,398 Restructuring costs Legal proceedings and regulatory matters Customer remediation Other provisions Total $m $m $m $m $m Provisions (excluding contractual commitments) At 31 Dec 2017 334 1,501 1,454 469 3,758 Additions 73 1,132 288 232 1,725 Amounts utilised (158 ) (1,255 ) (838 ) (143 ) (2,394 ) Unused amounts reversed (107 ) (279 ) (90 ) (131 ) (607 ) Exchange and other movements (12 ) 29 (26 ) (70 ) (79 ) At 31 Dec 2018 130 1,128 788 357 2,403 Contractual commitments 1 At 1 Jan 2018 537 Net change in expected credit loss provision and other movements (20 ) At 31 Dec 2018 517 Total provisions At 31 Dec 2017 4,011 At 31 Dec 2018 2,920 1 Contractual commitments include the provision for contingent liabilities measured under IFRS 9 ‘Financial Instruments’ in respect of financial guarantees and the expected credit loss provision on off-balance sheet guarantees and commitments. Further details of ‘Legal proceedings and regulatory matters’ are set out in Note 34 . Legal proceedings include civil court, arbitration or tribunal proceedings brought against HSBC companies (whether by way of claim or counterclaim) or civil disputes that may, if not settled, result in court, arbitration or tribunal proceedings. Regulatory matters refer to investigations, reviews and other actions carried out by, or in response to the actions of, regulators or law enforcement agencies in connection with alleged wrongdoing by HSBC. Customer remediation refers to HSBC’s activities to compensate customers for losses or damages associated with a failure to comply with regulations or to treat customers fairly. Customer remediation is often initiated by HSBC in response to customer complaints and/or industry developments in sales practices and is not necessarily initiated by regulatory action. Further details of customer remediation are set out in this note. Refer to Note 32 for further information on the impact of IFRS 9 on undrawn loan commitments and financial guarantees, presented in ‘Contractual commitments’. This provision results from the adoption of IFRS 9 and has no comparatives. Further analysis of the movement in the expected credit loss provision is disclosed within the 'Reconciliation of allowances for loans and advances to banks and customers including loan commitments and financial guarantees' table on page 135 . Payment protection insurance At 31 December 2019, $1.1bn (2018: $ 555m ) of the customer remediation provision relates to the estimated liability for redress in respect of the possible mis-selling of payment protection insurance (‘PPI’) policies in previous years. Payments totalling $750m were made during 2019. An increase in provisions of $1.2bn was recognised during the year, primarily reflecting the deadline of 29 August 2019 for bringing complaints announced by the FCA, and leading to: • a higher than expected increase in the number of inbound complaints received prior to 29 August 2019; • the effect on the total number of inbound complaints as a result of treating customer information requests relating to PPI policies received between 29 June 2019 and 29 August 2019 as complaints; • the additional operational expenses related to the increases in populations of potential claims; • an industry-wide exercise by the Official Receiver to pursue redress amounts in respect of bankrupt and insolvent customers; and • an increased volume of actual or forecast legal claims for PPI mis-selling, which is not affected by the deadline of 29 August 2019. The estimated liability for redress for both single and regular premium policies is calculated on the basis of a refund of the total premiums paid by the customer plus simple interest of 8% per annum (or the rate inherent in the related loan product where higher). Future estimated redress levels are based on historical redress paid to customers per policy. At 31 December 2019, contact was made with customers who collectively held 3.0 million policies, representing 56% of total policies sold. A total of 5.4 million PPI policies have been sold since 2000, generating estimated revenue of $3.4bn at 2019. The gross written premiums on these policies were approximately $4.5bn . Although the deadline for bringing complaints has passed, customers can still commence litigation for PPI mis-selling. Provision has been made for the best estimate of any obligation to meet those claims. Given the limited period following the complaints time bar, the volume and quality of future claims through legal channels remains uncertain. During the second half of 2019, we received an increasing number of legal claims and Letters Before Action. Our provision estimates that approximately 45,000 claims will be settled in the future. The following table summarises the cumulative number of information requests received between 29 June and 29 August 2019, and the number of claims expected to be assessed in the future, excluding legal claims: Cumulative PPI complaints received to 31 December 2019 Footnotes Cumulative actual to Information requests received during autoconversion period (000s) 1 1,889 Information requests awaiting evaluation (000s) 234 Remaining autoconverted claims anticipated to be worked (000s) 1 167 Remaining reactive claims anticipated to be worked (000s) 1 44 Total remaining claims anticipated to be worked (000s) 1 211 Average uphold rate per claim 2 86 % Average redress per claim ($) 3 3,226 1 Excludes invalid claims for which no PPI policy exists. 2 Including inbound and autoconverted claims, but excludes FOS complaints. 3 Including inbound and autoconverted claims, but excludes claims from the Official Receiver. The PPI provision is based upon assumptions and estimates taken from historical experience. The profile of cases yet to be assessed could therefore vary leading to different uphold rates or average redress levels being used to arrive at the provision. We continued to monitor available information up until the date of the approval of the financial statements to ensure the provision estimate was appropriate. Sensitivity to key assumptions • A 10% increase/decrease in the uphold rate for complaints yet to be worked would increase/decrease the redress provision by approximately $40m . • A 10% increase/decrease in the average redress for complaints yet to be worked would increase/decrease the redress provision by approximately $56m . • An increase/decrease in settled legal claim volumes of 10,000 would increase/decrease the redress provision by approximately $29m . |
Subordinated liabilities
Subordinated liabilities | 12 Months Ended |
Dec. 31, 2019 | |
Financial Instruments [Abstract] | |
Subordinated liabilities | 28 Subordinated liabilities HSBC’s subordinated liabilities 2019 2018 $m $m At amortised cost 24,600 22,437 – subordinated liabilities 22,775 20,651 – preferred securities 1,825 1,786 Designated at fair value (Note 24) 10,549 14,693 – subordinated liabilities 10,130 14,282 – preferred securities 419 411 At 31 Dec 35,149 37,130 Issued by HSBC subsidiaries 12,363 13,168 Issued by HSBC Holdings 22,786 23,962 Subordinated liabilities rank behind senior obligations and generally count towards the capital base of HSBC. Capital securities may be called and redeemed by HSBC subject to prior notification to the PRA and, where relevant, the consent of the local banking regulator. If not redeemed at the first call date, coupons payable may step up or become floating rate based on interbank rates. On subordinated liabilities other than floating rate notes, interest is payable at fixed rates of up to 10.176% . The balance sheet amounts disclosed in the following table are presented on an IFRS basis and do not reflect the amount that the instruments contribute to regulatory capital, principally due to regulatory amortisation and regulatory eligibility limits. HSBC’s subsidiaries subordinated liabilities in issue 2019 2018 Footnotes First call date Maturity date $m $m Additional tier 1 capital securities guaranteed by HSBC Holdings 1 $900m 10.176% non-cumulative step-up perpetual preferred securities, series 2 Jun 2030 900 892 900 892 Additional tier 1 capital securities guaranteed by HSBC Bank plc 1 £300m 5.862% non-cumulative step-up perpetual preferred securities Apr 2020 420 411 £700m 5.844% non-cumulative step-up perpetual preferred securities Nov 2031 925 894 1,345 1,305 Tier 2 securities issued by HSBC Bank plc $750m Undated floating rate primary capital notes Jun 1990 750 750 $500m Undated floating rate primary capital notes Sep 1990 500 500 $300m Undated floating rate primary capital notes, series 3 Jun 1992 300 300 $300m 7.65% subordinated notes — May 2025 300 300 1,850 1,850 £300m 6.50% subordinated notes — Jul 2023 396 382 £350m 5.375% callable subordinated step-up notes 2 Nov 2025 Nov 2030 549 513 £500m 5.375% subordinated notes — Aug 2033 875 757 £225m 6.25% subordinated notes — Jan 2041 296 286 £600m 4.75% subordinated notes — Mar 2046 785 758 4,751 4,546 Tier 2 securities issued by The Hongkong and Shanghai Banking Corporation Ltd $400m Primary capital undated floating rate notes (third series) Jul 1991 400 400 400 400 Tier 2 securities issued by HSBC Bank Malaysia Berhad MYR500m 5.05% subordinated bonds Nov 2022 Nov 2027 122 121 122 121 Tier 2 securities issued by HSBC USA Inc. $750m 5.00% subordinated notes 6 — Sep 2020 748 747 $250m 7.20% subordinated debentures 6 — Jul 2097 221 221 Other subordinated liabilities each less than $150m 3 202 269 1,171 1,237 Tier 2 securities issued by HSBC Bank USA, N.A. $1,250m 4.875% subordinated notes — Aug 2020 1,246 1,226 $1,000m 5.875% subordinated notes 4 — Nov 2034 463 1,106 $750m 5.625% subordinated notes 4 — Aug 2035 496 829 $700m 7.00% subordinated notes — Jan 2039 700 697 2,905 3,858 Tier 2 securities issued by HSBC Finance Corporation $2,939m 6.676% senior subordinated notes 5, 6 — Jan 2021 507 507 Tier 2 securities issued by HSBC Bank Canada Other subordinated liabilities each less than $150m Oct 1996 Nov 2083 26 29 26 29 Securities issued by other HSBC subsidiaries Other subordinated liabilities each less than $200m 3 236 273 Subordinated liabilities issued by HSBC subsidiaries at 31 Dec 7 12,363 13,168 1 See paragraph below, ‘Guaranteed by HSBC Holdings or HSBC Bank plc’. 2 The interest rate payable after November 2025 is the sum of the three-month sterling Libor plus 1.5 percentage points. 3 Some securities included here are ineligible for inclusion in the capital base of HSBC. 4 HSBC tendered for these securities in November 2019. The principal balance is $358m and $383m respectively. The original notional of these securities are $1,000m and $750m respectively. 5 HSBC tendered for these securities in 2017. In January 2018, a further tender was conducted. The principal balance is $507m . The original notional of these securities is $2,939m . 6 These securities are ineligible for inclusion in the capital base of HSBC. 7 Approximately $60m of these securities were held by HSBC Holdings. HSBC Holdings’ subordinated liabilities 2019 2018 $m $m At amortised cost 18,361 17,715 Designated at fair value (Note 24) 5,616 7,282 At 31 Dec 23,977 24,997 HSBC Holdings’ subordinated liabilities in issue First call Maturity 2019 2018 Footnotes date date $m $m Tier 2 securities issued by HSBC Holdings Amounts owed to third parties $2,000m 4.25% subordinated notes 2,3 — Mar 2024 2,076 2,001 $1,500m 4.25% subordinated notes 2 — Aug 2025 1,611 1,494 $1,500m 4.375% subordinated notes 2 — Nov 2026 1,626 1,470 $488m 7.625% subordinated notes 1 — May 2032 545 549 $222m 7.35% subordinated notes 1 — Nov 2032 245 246 $2,000m 6.5% subordinated notes 1 — May 2036 2,036 2,040 $2,500m 6.5% subordinated notes 1 — Sep 2037 2,738 2,419 $1,500m 6.8% subordinated notes 1 — Jun 2038 1,490 1,489 $1,500m 5.25% subordinated notes 2,3 — Mar 2044 1,886 1,661 £650m 5.75% subordinated notes 2 — Dec 2027 1,059 960 £650m 6.75% subordinated notes 2 — Sep 2028 855 826 £750m 7.0% subordinated notes 2 — Apr 2038 1,064 992 £900m 6.0% subordinated notes 2 — Mar 2040 1,294 1,156 €1,750m 6.0% subordinated notes 2 — Jun 2019 — 2,125 €1,500m 3.375% subordinated notes 2,3 Jan 2019 Jan 2024 — 1,719 €1,500m 3.0% subordinated notes 2 — Jun 2025 1,736 1,725 €1,000m 3.125% subordinated notes 2 — Jun 2028 1,321 1,233 21,582 24,105 Amounts owed to HSBC undertakings $900m 10.176% subordinated step-up cumulative notes Jun 2030 Jun 2040 892 892 892 892 Other securities issued by HSBC Holdings Amounts owed to third parties $1,500m 5.625% contingent convertible securities 4 Nov 2019 Jan 2020 1,503 — 1,503 — At 31 Dec 23,977 24,997 1 Amounts owed to third parties represent securities included in the capital base of HSBC as tier 2 securities in accordance with the grandfathering provisions under CRR II. Prior period figures are included on a CRD IV basis. 2 These securities are included in the capital base of HSBC as fully CRR II-compliant tier 2 securities on an end point basis. 3 These subordinated notes are measured at amortised cost in HSBC Holdings, where the interest rate risk is hedged using a fair value hedge, while they are measured at fair value in the Group. 4 This security was called by HSBC Holdings on 22 November 2019 and was redeemed and cancelled on 17 January 2020. Between the date of exercise of the call option and the redemption, this security was considered to be a subordinated liability. Refer to Note 31 for further details on additional Tier 1 securities. Guaranteed by HSBC Holdings or HSBC Bank plc Capital securities guaranteed by HSBC Holdings or HSBC Bank plc were issued by the Jersey limited partnerships. The proceeds of these were lent to the respective guarantors by the limited partnerships in the form of subordinated notes. They qualify as additional tier 1 capital for HSBC under CRR II by virtue of the application of grandfathering provisions. The two capital securities guaranteed by HSBC Bank plc also qualify as additional tier 1 capital for HSBC Bank plc (on a solo and a consolidated basis) under CRR II by virtue of the same grandfathering process. These preferred securities, together with the guarantee, are intended to provide investors with rights to income and capital distributions and distributions upon liquidation of the relevant issuer that are equivalent to the rights that they would have had if they had purchased non-cumulative perpetual preference shares of the relevant issuer. There are limitations on the payment of distributions if such payments are prohibited under UK banking regulations or other requirements, if a payment would cause a breach of HSBC’s capital adequacy requirements, or if HSBC Holdings or HSBC Bank plc has insufficient distributable reserves (as defined). HSBC Holdings and HSBC Bank plc have individually covenanted that, if prevented under certain circumstances from paying distributions on the preferred securities in full, they will not pay dividends or other distributions in respect of their ordinary shares, or repurchase or redeem their ordinary shares, until the distribution on the preferred securities has been paid in full. If the consolidated total capital ratio of HSBC Holdings falls below the regulatory minimum required or if the Directors expect it to do so in the near term, provided that proceedings have not been commenced for the liquidation, dissolution or winding up of HSBC Holdings, the holders’ interests in the preferred securities guaranteed by HSBC Holdings will be exchanged for interests in preference shares issued by HSBC Holdings that have economic terms which are in all material respects equivalent to the preferred securities and their guarantee. If any of the two issues guaranteed by HSBC Bank plc are outstanding in April 2049 or November 2048 respectively, or if the total capital ratio of HSBC Bank plc (on a solo or consolidated basis) falls below the regulatory minimum required, or if the Directors expect it to do so in the near term, provided that proceedings have not been commenced for the liquidation, dissolution or winding up of HSBC Bank plc , the holders’ interests in the preferred securities guaranteed by HSBC Bank plc will be exchanged for interests in preference shares issued by HSBC Bank plc that have economic terms which are in all material respects equivalent to the preferred securities and their guarantee. Tier 2 securities Tier 2 capital securities are either perpetual or dated subordinated securities on which there is an obligation to pay coupons. These capital securities are included within HSBC's regulatory capital base as tier 2 capital under CRR II, either as fully eligible capital or by virtue of the application of grandfathering provisions. In accordance with CRR II, the capital contribution of all tier 2 securities is amortised for regulatory purposes in their final five years before maturity. |
Maturity analysis of assets, li
Maturity analysis of assets, liabilities and off-balance sheet commitments | 12 Months Ended |
Dec. 31, 2019 | |
Financial Instruments [Abstract] | |
Disclosure of financial instruments | 16 Financial investments Carrying amount of financial investments 2019 2018 Footnotes $m $m Financial investments measured at fair value through other comprehensive income 357,577 344,767 – treasury and other eligible bills 95,043 96,642 – debt securities 260,536 246,371 – equity securities 1,913 1,657 – other instruments 1 85 97 Debt instruments measured at amortised cost 2 85,735 62,666 – treasury and other eligible bills 10,476 679 – debt securities 75,259 61,987 At 31 Dec 443,312 407,433 1 ‘Other instruments’ comprises of loans and advances. 2 Fair value $89.1 bn ( 2018 : $62.1 bn). Equity instruments measured at fair value through other comprehensive income Fair value Dividends recognised Type of equity instruments $m $m Investments required by central institutions 738 22 Business facilitation 1,124 19 Others 51 9 At 31 Dec 2019 1,913 50 Investments required by central institutions 848 34 Business facilitation 758 21 Others 51 9 At 31 Dec 2018 1,657 64 Financial investments at amortised cost and fair value 2019 2018 Amortised cost Fair value 1 Amortised cost Fair value 1 Footnotes $m $m $m $m US Treasury 79,633 80,589 54,941 54,763 US Government agencies 2 26,356 26,387 21,058 20,580 US Government-sponsored entities 2 8,070 8,259 12,867 12,701 UK Government 28,621 28,973 20,576 21,083 Hong Kong Government 47,824 47,820 49,956 49,955 Other governments 140,510 142,511 142,495 144,099 Asset-backed securities 3 2,954 2,889 3,579 3,390 Corporate debt and other securities 101,750 107,364 97,286 98,419 Equities 1,241 1,913 1,353 1,657 At 31 Dec 436,959 446,705 404,111 406,647 1 Included within ‘fair value’ figures are debt securities issued by banks and other financial institutions of $ 61 bn ( 2018 : $56 bn), of which $ 11 bn ( 2018 : $8 bn) are guaranteed by various governments. 2 Includes securities that are supported by an explicit guarantee issued by the US Government. 3 Excludes asset-backed securities included under US Government agencies and sponsored entities. Maturities of investments in debt securities at their carrying amount Up to 1 year 1 to 5 years 5 to 10 years Over 10 years Total $m $m $m $m $m Debt securities measured at fair value through other comprehensive income 61,833 123,740 42,831 32,132 260,536 Debt securities measured at amortised cost 5,472 14,395 21,431 33,961 75,259 At 31 Dec 2019 67,305 138,135 64,262 66,093 335,795 Debt securities measured at fair value through other comprehensive income 61,598 124,075 36,194 24,504 246,371 Debt securities measured at amortised cost 2,519 10,086 16,065 33,317 61,987 At 31 Dec 2018 64,117 134,161 52,259 57,821 308,358 Contractual maturities and weighted average yields of investment debt securities Up to 1 year 1 to 5 years 5 to 10 years Over 10 years Amount Yield Amount Yield Amount Yield Amount Yield $m % $m % $m % $m % Debt securities measured at fair value through other comprehensive income US Treasury 6,322 2.1 26,834 2.0 18,208 2.0 3,268 2.9 US Government agencies — — 79 2.2 1 4.7 15,581 2.6 US Government-sponsored agencies 725 2.8 167 3.1 1,940 2.8 2,191 3.0 UK Government 4,681 1.3 4,393 1.1 4,443 0.2 2,811 2.8 Hong Kong Government 559 1.3 145 1.8 152 3.2 — — Other governments 39,144 2.3 54,689 2.8 11,478 1.7 1,862 3.6 Asset-backed securities 18 2.7 1 0.5 325 3.1 2,610 2.2 Corporate debt and other securities 9,735 2.0 34,921 1.8 4,879 2.2 2,795 3.4 Total amortised cost at 31 Dec 2019 61,184 121,229 41,426 31,118 Total carrying value 61,833 123,740 42,831 32,132 Debt securities measured at amortised cost US Treasury 3,010 1.9 4,879 1.8 2,931 1.9 141 4.2 US Government agencies — — 13 3.8 19 3.5 10,286 2.6 US Government-sponsored agencies — — 482 2.7 551 2.3 2,015 3.2 Hong Kong Government 10 1.6 20 1.6 9 1.4 — — Other governments 128 4.4 552 3.4 487 3.1 832 4.2 Asset-backed securities — — — — — — 2 7.5 Corporate debt and other securities 2,324 3.5 8,449 3.4 17,434 3.3 20,685 3.8 Total amortised cost at 31 Dec 2019 5,472 14,395 21,431 33,961 Total carrying value 5,472 14,395 21,431 33,961 The maturity distributions of ABSs are presented in the above table on the basis of contractual maturity dates. The weighted average yield for each range of maturities is calculated by dividing the annualised interest income for the year ended 31 December 2019 by the book amount of debt securities at that date. The yields do not include the effect of related derivatives. HSBC Holdings HSBC Holdings carrying amount of financial investments 2019 2018 Footnotes $m $m Debt instruments measured at amortised cost 1 – treasury and other eligible bills 10,081 — – debt securities 6,025 — At 31 Dec 16,106 — 1 The 2019 period includes $ 16.1b n (2018: nil ) of investments in highly liquid securities. Financial investments at amortised cost and fair value 2019 2018 Amortised cost Fair value Amortised cost Fair value $m $m $m $m US Treasury 16,106 16,121 — — US Government agencies — — — — US Government-sponsored entities — — — — At 31 Dec 16,106 16,121 — — Maturities of investments in debt securities at their carrying amount Up to 1 year 1 to 5 years 5 to 10 years Over 10 years Total $m $m $m $m $m Debt securities measured at amortised cost 3,010 3,015 — — 6,025 At 31 Dec 2019 3,010 3,015 — — 6,025 Debt securities measured at amortised cost — — — — — At 31 Dec 2018 — — — — — Contractual maturities and weighted average yields of investment debt securities Up to 1 year 1 to 5 years 5 to 10 years Over 10 years Amount Yield Amount Yield Amount Yield Amount Yield $m % $m % $m % $m % Debt securities measured at amortised cost US Treasury 3,010 1.9 3,015 1.7 — — — — US Government agencies — — — — — — — — US Government-sponsored agencies — — — — — — — — Total amortised cost at 31 Dec 2019 3,010 3,015 — — Total carrying value 3,010 3,015 — — The weighted average yield for each range of maturities is calculated by dividing the annualised interest income for the year ended 31 December 2019 by the book amount of debt securities at that date. The yields do not include the effect of related derivatives. 24 Financial liabilities designated at fair value HSBC 2019 2018 Footnotes $m $m Deposits by banks and customer accounts 1 17,660 19,003 Liabilities to customers under investment contracts 5,893 5,458 Debt securities in issue (Note 25) 130,364 109,351 Subordinated liabilities (Note 28) 10,130 14,282 Preferred securities (Note 28) 419 411 At 31 Dec 164,466 148,505 1 Structured deposits placed at HSBC Bank USA and HSBC Trust Company (Delaware) National Association are insured by the Federal Deposit Insurance Corporation, a US government agency, up to $250,000 per depositor. The carrying amount of financial liabilities designated at fair value was $6,120 m more than the contractual amount at maturity ( 2018 : $11,496 m less). The cumulative amount of change in fair value attributable to changes in credit risk was a loss of $2,877 m ( 2018 : loss of $209 m). HSBC Holdings 2019 2018 $m $m Debt securities in issue (Note 25) 24,687 17,767 Subordinated liabilities (Note 28) 5,616 7,282 At 31 Dec 30,303 25,049 The carrying amount of financial liabilities designated at fair value was $ 2,227m more than the contractual amount at maturity 920m more). The cumulative amount of change in fair value attributable to changes in credit risk was a loss of $ 1,386m (2018: loss of $812m ). 29 Maturity analysis of assets, liabilities and off-balance sheet commitments The table on page 330 provides an analysis of consolidated total assets, liabilities and off-balance sheet commitments by residual contractual maturity at the balance sheet date. These balances are included in the maturity analysis as follows: • Trading assets and liabilities (including trading derivatives but excluding reverse repos, repos and debt securities in issue) are included in the ‘Due not more than 1 month’ time bucket, because trading balances are typically held for short periods of time. • Financial assets and liabilities with no contractual maturity (such as equity securities) are included in the ‘Due over 5 years’ time bucket. Undated or perpetual instruments are classified based on the contractual notice period, which the counterparty of the instrument is entitled to give. Where there is no contractual notice period, undated or perpetual contracts are included in the ‘Due over 5 years’ time bucket. • Non-financial assets and liabilities with no contractual maturity are included in the ‘Due over 5 years’ time bucket. • Financial instruments included within assets and liabilities of disposal groups held for sale are classified on the basis of the contractual maturity of the underlying instruments and not on the basis of the disposal transaction. • Liabilities under insurance contracts are included in the ‘Due over 5 years’ time bucket. Liabilities under investment contracts are classified in accordance with their contractual maturity. Undated investment contracts are included in the ‘Due over 5 years’ time bucket, although such contracts are subject to surrender and transfer options by the policyholders. • Loan and other credit-related commitments are classified on the basis of the earliest date they can be drawn down. HSBC Maturity analysis of assets, liabilities and off-balance sheet commitments Due not Due over Due over Due over Due over Due over Due over Due over Total $m $m $m $m $m $m $m $m $m Financial assets Cash and balances at central banks 154,099 — — — — — — — 154,099 Items in the course of collection from other banks 4,956 — — — — — — — 4,956 Hong Kong Government certificates of indebtedness 38,380 — — — — — — — 38,380 Trading assets 252,009 644 412 62 452 152 540 — 254,271 Financial assets designated or otherwise mandatorily measured at fair value 4,846 74 381 200 422 780 2,356 34,568 43,627 Derivatives 241,941 150 24 27 22 112 294 425 242,995 Loans and advances to banks 41,554 7,826 4,877 2,592 2,859 6,848 2,005 642 69,203 Loans and advances to customers 190,675 82,379 61,254 36,005 36,755 106,203 227,811 295,661 1,036,743 – personal 51,893 14,547 8,562 7,245 6,931 22,923 66,761 252,275 431,137 – corporate and commercial 118,585 61,629 45,924 25,006 25,069 71,751 147,139 39,958 535,061 – financial 20,197 6,203 6,768 3,754 4,755 11,529 13,911 3,428 70,545 Reverse repurchase agreements 164,741 38,997 17,933 8,226 6,305 2,298 2,362 — 240,862 Financial investments 36,128 64,472 35,795 17,485 18,202 48,427 90,193 132,610 443,312 Accrued income and other financial assets 80,661 5,544 2,532 915 495 432 363 2,037 92,979 Financial assets at 31 Dec 2019 1,209,990 200,086 123,208 65,512 65,512 165,252 325,924 465,943 2,621,427 Non-financial assets — — — — — — — 93,725 93,725 Total assets at 31 Dec 2019 1,209,990 200,086 123,208 65,512 65,512 165,252 325,924 559,668 2,715,152 Off-balance sheet commitments received Loan and other credit-related commitments 63,199 — — — — — — — 63,199 Financial liabilities Hong Kong currency notes in circulation 38,380 — — — — — — — 38,380 Deposits by banks 46,397 4,167 2,773 454 844 2,455 876 1,056 59,022 Customer accounts 1 1,287,358 81,038 38,343 11,530 11,342 5,275 4,075 154 1,439,115 – personal 646,843 49,405 29,320 8,484 6,852 3,631 2,646 71 747,252 – corporate and commercial 479,763 24,214 7,162 2,621 3,009 1,119 1,388 41 519,317 – financial 160,752 7,419 1,861 425 1,481 525 41 42 172,546 Repurchase agreements 132,042 3,402 1,579 1,882 59 354 2 1,024 140,344 Items in the course of transmission to other banks 4,817 — — — — — — — 4,817 Trading liabilities 82,130 209 265 148 102 287 29 — 83,170 Financial liabilities designated at 12,844 4,667 4,236 4,552 5,196 26,081 43,534 63,356 164,466 – debt securities in issue: covered bonds — — — — 1,139 — 2,663 1,159 4,961 – debt securities in issue: unsecured 8,884 2,046 2,946 3,757 3,030 22,950 34,753 47,036 125,402 – subordinated liabilities and preferred securities 23 — — — — — 2,131 8,396 10,550 – other 3,937 2,621 1,290 795 1,027 3,131 3,987 6,765 23,553 Derivatives 237,901 105 73 10 18 68 540 782 239,497 Debt securities in issue 8,183 17,374 12,799 13,152 11,382 14,572 20,048 7,045 104,555 – covered bonds — — — — — 749 998 — 1,747 – otherwise secured 2,015 2 248 161 — 219 958 1,663 5,266 – unsecured 6,168 17,372 12,551 12,991 11,382 13,604 18,092 5,382 97,542 Accruals and other financial liabilities 87,796 9,078 3,914 1,244 2,058 1,592 2,823 2,890 111,395 Subordinated liabilities 1,502 — 22 1,993 100 755 424 19,804 24,600 Total financial liabilities at 31 Dec 2019 1,939,350 120,040 64,004 34,965 31,101 51,439 72,351 96,111 2,409,361 Non-financial liabilities — — — — — — — 113,123 113,123 Total liabilities at 31 Dec 2019 1,939,350 120,040 64,004 34,965 31,101 51,439 72,351 209,234 2,522,484 Off-balance sheet commitments given Loan and other credit-related commitments 794,336 600 590 313 551 442 458 318 797,608 – personal 221,952 40 39 56 167 208 392 299 223,153 – corporate and commercial 460,569 117 96 52 381 218 66 19 461,518 – financial 111,815 443 455 205 3 16 — — 112,937 Maturity analysis of assets, liabilities and off-balance sheet commitments (continued) Due not more than 1 month Due over 1 month but not more than 3 months Due over 3 months but not more than 6 months Due over 6 months but not more than 9 months Due over 9 months but not more than 1 year Due over 1 year but not more than 2 years Due over 2 years but not more than 5 years Due over 5 years Total $m $m $m $m $m $m $m $m $m Financial assets Cash and balances at central banks 162,843 — — — — — — — 162,843 Items in the course of collection from other banks 5,787 — — — — — — — 5,787 Hong Kong Government certificates of indebtedness 35,859 — — — — — — — 35,859 Trading assets 235,443 264 707 744 104 197 671 — 238,130 Financial assets designated at fair value 7,743 49 371 145 334 918 2,415 29,136 41,111 Derivatives 206,925 15 57 79 18 69 328 334 207,825 Loans and advances to banks 40,114 10,421 3,486 2,004 3,282 7,158 4,508 1,194 72,167 Loans and advances to customers 178,613 72,072 58,680 38,394 37,333 101,267 219,841 275,496 981,696 – personal 41,967 8,736 8,237 7,581 7,240 24,942 63,061 229,626 391,390 – corporate and commercial 118,294 58,623 45,918 27,001 25,597 67,093 143,959 42,540 529,025 – financial 18,352 4,713 4,525 3,812 4,496 9,232 12,821 3,330 61,281 Reverse repurchase agreements – non-trading 172,795 41,084 13,308 5,763 3,574 5,253 1,027 — 242,804 Financial investments 40,421 58,731 30,464 15,707 15,357 41,866 92,846 112,041 407,433 Accrued income and other financial assets 62,067 6,893 2,403 561 307 349 731 2,237 75,548 Financial assets at 31 Dec 2018 1,148,610 189,529 109,476 63,397 60,309 157,077 322,367 420,438 2,471,203 Non-financial assets — — — — — — — 86,921 86,921 Total assets at 31 Dec 2018 1,148,610 189,529 109,476 63,397 60,309 157,077 322,367 507,359 2,558,124 Off-balance sheet commitments received Loan and other credit-related commitments 73,464 — — — 1 3 98 656 74,222 Financial liabilities Hong Kong currency notes in circulation 35,859 — — — — — — — 35,859 Deposits by banks 42,406 3,457 1,043 784 542 5,558 1,655 886 56,331 Customer accounts 1 1,225,919 66,990 31,315 17,218 13,760 4,122 3,194 125 1,362,643 – personal 612,325 38,132 21,218 11,483 8,282 2,853 2,623 53 696,969 – corporate and commercial 457,661 22,922 8,029 4,599 4,317 1,092 509 29 499,158 – financial 155,933 5,936 2,068 1,136 1,161 177 62 43 166,516 Repurchase agreements – non-trading 154,383 8,140 1,750 629 73 408 501 — 165,884 Items in the course of transmission to other banks 5,641 — — — — — — — 5,641 Trading liabilities 82,867 251 326 633 81 235 36 2 84,431 Financial liabilities designated at fair value 3,813 4,476 6,878 3,076 3,481 12,545 53,615 60,621 148,505 – debt securities in issue: covered bonds — — 205 — — 1,190 2,721 1,137 5,253 – debt securities in issue: unsecured 981 1,562 2,659 2,290 2,353 9,143 47,443 37,633 104,064 – subordinated liabilities and preferred securities — — 2,125 — — — — 12,568 14,693 – other 2,832 2,914 1,889 786 1,128 2,212 3,451 9,283 24,495 Derivatives 203,962 62 135 191 144 560 159 622 205,835 Debt securities in issue 6,777 11,194 12,556 8,075 3,330 10,670 19,713 13,027 85,342 – covered bonds — — — — — — 748 — 748 – otherwise secured 2,166 1,100 30 — — 394 944 1,412 6,046 – unsecured 4,611 10,094 12,526 8,075 3,330 10,276 18,021 11,615 78,548 Accruals and other financial liabilities 69,958 8,986 3,296 659 1,269 885 1,027 1,300 87,380 Subordinated liabilities 6 89 3 — — 1,996 1,384 18,959 22,437 Total financial liabilities at 31 Dec 2018 1,831,591 103,645 57,302 31,265 22,680 36,979 81,284 95,542 2,260,288 Non-financial liabilities — — — — — — — 103,587 103,587 Total liabilities at 31 Dec 2018 1,831,591 103,645 57,302 31,265 22,680 36,979 81,284 199,129 2,363,875 Off-balance sheet commitments given Loan and other credit-related commitments 769,311 5,281 941 1,972 1,257 361 731 412 780,266 – personal 203,622 974 59 32 201 280 556 331 206,055 – corporate and commercial 441,199 2,694 799 1,895 974 34 150 73 447,818 – financial 124,490 1,613 83 45 82 47 25 8 126,393 1 ‘Customer accounts’ includes $ 408,090m (2018: $364,729m ) insured by guarantee schemes. HSBC Holdings Maturity analysis of assets, liabilities and off-balance sheet commitments (continued) Due not more than 1 month Due over 1 month but not more than 3 months Due over 3 months but not more than 6 months Due over 6 months but not more than 9 months Due over 9 months but not more than 1 year Due over 1 year but not more than 2 years Due over 2 years but not more than 5 years Due over 5 years Total $m $m $m $m $m $m $m $m $m Financial assets Cash at bank and in hand: – balances with HSBC undertakings 2,382 — — — — — — — 2,382 Derivatives 596 — — — — — 230 1,176 2,002 Loans and advances to HSBC undertakings 102 672 120 25 — 600 1,909 6,790 10,218 Financial assets with HSBC undertakings designated and otherwise mandatorily measured at fair value — — — — — 458 24,845 36,661 61,964 Financial investments 2,754 3,493 1,873 2,251 2,721 3,014 — — 16,106 Accrued income and other financial assets 93 277 97 48 16 12 — — 543 Total financial assets at 5,927 4,442 2,090 2,324 2,737 4,084 26,984 44,627 93,215 Non-financial assets — — — — — — — 162,025 162,025 Total assets at 31 Dec 2019 5,927 4,442 2,090 2,324 2,737 4,084 26,984 206,652 255,240 Financial liabilities Amounts owed to HSBC undertakings — 464 — — — — — — 464 Financial liabilities designated at fair value — — — — — 5,651 6,710 17,942 30,303 – debt securities in issue — — — — — 5,651 6,710 12,326 24,687 – subordinated liabilities and preferred securities — — — — — — — 5,616 5,616 Derivatives 1,838 — — — — 20 85 78 2,021 Debt securities in issue — — — — — 10,134 23,786 22,924 56,844 Accruals and other financial liabilities 900 574 303 55 10 — — 35 1,877 Subordinated liabilities 1,503 — — — — — 2,076 14,782 18,361 31 Dec 2019 4,241 1,038 303 55 10 15,805 32,657 55,761 109,870 Non-financial liabilities — — — — — — — 326 326 Total liabilities at 31 Dec 2019 4,241 1,038 303 55 10 15,805 32,657 56,087 110,196 Off-balance sheet commitments given Undrawn formal standby facilities, credit lines and other commitments to lend — — — — — — — — — Maturity analysis of assets, liabilities and off-balance sheet commitments (continued) Due not more than 1 month Due over 1 month but not more than 3 months Due over 3 months but not more than 6 months Due over 6 months but not more than 9 months Due over 9 months but not more than 1 year Due over 1 year but not more than 2 years Due over 2 years but not more than 5 years Due over 5 years Total $m $m $m $m $m $m $m $m $m Financial assets Cash at bank and in hand: – balances with HSBC undertakings 3,509 — — — — — — — 3,509 Derivatives 540 — — — — — — 167 707 Loans and advances to HSBC undertakings 3,052 11,563 158 968 1 — 14,062 26,340 56,144 Loans and advances to HSBC undertakings designated at fair value — — — — — — 8,116 15,397 23,513 Financial investments in HSBC undertakings — — — — — — — — — Accrued income and other financial assets 33 27 — — — — — 60 Total financial assets at 31 Dec 2018 7,134 11,590 158 968 1 — 22,178 41,904 83,933 Non-financial assets — — — — — — — 161,248 161,248 Total assets at 31 Dec 2018 7,134 11,590 158 968 1 — 22,178 203,152 245,181 Financial liabilities Amounts owed to HSBC undertakings — 949 — — — — — — 949 Financial liabilities designated at fair value — — 2,125 — — — 12,306 10,618 25,049 – debt securities in issue — — — — — — 12,306 5,461 17,767 – subordinated liabilities and preferred securities — — 2,125 — — — — 5,157 7,282 Derivatives 1,321 — — — — — 339 499 2,159 Debt securities in issue — — — — — — 23,770 27,030 50,800 Accruals and other financial liabilities 319 353 188 36 5 — — 41 942 Subordinated liabilities — — — — — — — 17,715 17,715 Total financial liabilities at 31 Dec 2018 1,640 1,302 2,313 36 5 — 36,415 55,903 97,614 Non-financial liabilities — — — — — — — 214 214 Total liabilities at 31 Dec 2018 1,640 1,302 2,313 36 5 — 36,415 56,117 97,828 Off-balance sheet commitments given Undrawn formal standby facilities, credit lines and other commitments to lend — — — — — — — — — Contractual maturity of financial liabilities The following table shows, on an undiscounted basis, all cash flows relating to principal and future coupon payments (except for trading liabilities and derivatives not treated as hedging derivatives). For this reason, balances in the following table do not agree directly with those in our consolidated balance sheet. Undiscounted cash flows payable in relation to hedging derivative liabilities are classified according to their contractual maturities. Trading liabilities and derivatives not treated as hedging derivatives are included in the ‘Due not more than 1 month’ time bucket and not by contractual maturity. In addition, loans and other credit-related commitments and financial guarantees are generally not recognised on our balance sheet. The undiscounted cash flows potentially payable under loan and other credit-related commitments and financial guarantees are classified on the basis of the earliest date they can be called. Cash flows payable by HSBC under financial liabilities by remaining contractual maturities Due not more than 1 month Due over 1 month but not more than 3 months Due over 3 months but not more than 1 year Due over 1 year but not more than 5 years Due over Total $m $m $m $m $m $m Deposits by banks 46,471 4,167 4,227 3,371 1,084 59,320 Customer accounts 1,288,577 81,037 62,105 9,900 191 1,441,810 Repurchase agreements – non-trading 132,156 3,403 3,565 368 1,036 140,528 Trading liabilities 83,170 — — — — 83,170 Financial liabilities designated at fair value 13,447 4,666 14,747 76,155 68,045 177,060 Derivatives 237,897 105 522 1,076 1,691 241,291 Debt securities in issue 8,757 17,374 38,423 36,584 8,177 109,315 Subordinated liabilities 1,847 — 2,908 5,197 27,892 37,844 Other financial liabilities 127,898 9,079 6,792 5,637 2,992 152,398 1,940,220 119,831 133,289 138,288 111,108 2,442,736 Loan and other credit-related commitments 795,243 601 561 886 317 797,608 Financial guarantees 1 20,007 37 102 68 — 20,214 At 31 Dec 2019 2,755,470 120,469 133,952 139,242 111,425 3,260,558 Proportion of cash flows payable in period 85% 4% 4% 4% 3% Deposits by banks 42,569 3,457 2,419 7,507 556 56,508 Customer accounts 1,226,828 66,990 62,963 7,617 130 1,364,528 Repurchase agreements – non-trading 154,541 8,140 2,487 950 — 166,118 Trading liabilities 84,431 — — — — 84,431 Financial liabilities designated at fair value 4,478 4,476 15,591 75,578 89,261 189,384 Derivatives 204,360 62 927 2,065 1,323 208,737 Debt securities in issue 7,295 11,194 24,902 36,599 13,656 93,646 Subordinated liabilities 349 89 793 7,600 27,670 36,501 Other financial liabilities 110,337 8,987 4,694 2,367 1,260 127,645 1,835,188 103,395 114,776 140,283 133,856 2,327,498 Loan and other credit-related commitments 772,557 5,279 1,109 944 377 780,266 Financial guarantees 1 22,942 113 289 160 14 23,518 At 31 Dec 2018 2,630,687 108,787 116,174 141,387 134,247 3,131,282 Proportion of cash flows payable in period 84% 3% 4% 5% 4% 1 Excludes performance guarantee contracts to which the impairment requirements in IFRS 9 are not applied. HSBC Holdings HSBC Holdings’ primary sources of liquidity are dividends received from subsidiaries, interest on and repayment of intra-Group loans and securities, and interest earned on its own liquid funds. HSBC Holdings also raises funds in the debt capital markets to meet the Group’s minimum requirement for own funds and eligible liabilities. HSBC Holdings uses this liquidity to meet its obligations, including interest and principal repayments on external debt liabilities, operating expenses and collateral on derivative transactions. HSBC Holdings is also subject to contingent liquidity risk by virtue of credit-related commitments and guarantees and similar contracts issued relating to its subsidiaries. Such commitments and guarantees are only issued after due consideration of HSBC Holdings’ ability to finance the commitments and guarantees and the likelihood of the need arising. HSBC Holdings actively manages the cash flows from its subsidiaries to optimise the amount of cash held at the holding company level. During 2019, consistent with the Group’s capital plan, the Group’s subsidiaries did not experience any significant restrictions on paying dividends or repaying loans and advances. Also, there are no foreseen restrictions envisaged with regard to planned dividends or payments. However, the ability of subsidiaries to pay dividends or advance monies to HSBC Holdings depends on, among other things, their respective local regulatory capital and banking requirements, exchange controls, statutory reserves, and financial and operating performance. HSBC Holdings currently has sufficient liquidity to meet its present requirements. Liquidity risk in HSBC Holdings is overseen by Holdings ALCO. This risk arises because of HSBC Holdings’ obligation to make payments to debt holders as they fall due and to pay its operating expenses. The liquidity risk related to these cash flows is managed by matching external debt obligations with internal loan cash flows and by maintaining an appropriate liquidity buffer that is monitored by Holdings ALCO. The balances in the following table are not directly comparable with those on the balance sheet of HSBC Holdings as the table incorporates, on an undiscounted basis, all cash flows relating to principal and future coupon payments (except for derivatives not treated as hedging derivatives). Undiscounted cash flows payable in relation to hedging derivative liabilities are classified according to their contractual maturities. Derivatives not treated as hedging derivatives are included in the ‘On demand’ time bucket. In addition, loan commitments and financial guarantees and similar contracts are generally not recognised on our balance sheet. The undiscounted cash flows potentially payable under financial guarantees and similar contracts are classified on the basis of the earliest date on which they can be called. Cash flows payable by HSBC Holdings under financial liabilities by remaining contractual maturities Due not more than 1 month Due over 1 month but not more than 3 months Due over 3 months but not more than 1 year Due over 1 year but not more than 5 years Due over Total Footnotes $m $m $m $m $m $m Amounts owed to HSBC undertakings — 464 — — — 464 Financial liabilities designated at fair value 88 168 784 14,776 18,184 34,000 Derivatives 1,838 — — 105 78 2,021 Debt securities in issue 128 244 1,137 38,690 25,310 65,509 Subordinated liabilities 1,588 154 718 5,743 21,533 29,736 Other financial liabilities 956 519 365 — — 1,840 4,598 1,549 3,004 59,314 65,105 133,570 Loan commitments — — — — — — Financial guarantees 1 11,061 — — — — 11,061 At 31 Dec 2019 15,659 1,549 3,004 59,314 65,105 144,631 Amounts owed to HSBC undertakings — 949 — — — 949 Financial liabilities designated at fair value — 237 2,656 14,384 11,653 28,930 Derivatives 1,321 — — 339 499 2,159 Debt securities in issue — 379 1,159 29,178 30,801 61,517 Subordinated liabilities — 248 757 4,019 25,311 30,335 Other financial liabilities — 675 228 — — 903 1,321 2,488 4,800 47,920 68,264 124,793 Loan commitments — — — — — — Financial guarantees 1 8,627 — — — — 8,627 At 31 Dec 2018 9,948 2,488 4,800 47,920 68,264 133,420 1 Excludes performance guarantee contracts to which the impairment requirements in IFRS 9 are not applied. 30 Offsetting of financial assets and financial liabilities In the following table, the ‘Amounts not set off in the balance sheet’ include transactions where: • the counterparty has an offsetting exposure with HSBC and a master netting or similar arrangement is in place with a right to set off only in the event of default, insolvency or bankruptcy, or the offset criteria are otherwise not satisfied; and • in the case of derivatives and reverse repurchase/repurchase, stock borrowing/lending and similar agreements, cash and non-cash collateral has been received/pledged. For risk management purposes, the net amounts of loans and advances to customers are subject to limits, which are monitored and the relevant customer agreements are subject to review and updated, as necessary, to ensure the legal right to set off remains appropriate. Offsetting of financial assets and financial liabilities Amounts subject to enforceable netting arrangements Amounts not subject to enforceable netting arrangements 5 Total Amounts not set off in the balance sheet Gross amounts Amounts offset Net amounts in the balance sheet Financial instruments Non-cash collateral Cash collateral Net amount Footnotes $m $m $m $m $m $m $m $m $m Financial assets Derivatives (Note 15) 1 277,261 (41,739 ) 235,522 (171,371 ) (13,095 ) (47,404 ) 3,652 7,473 242,995 Reverse repos, stock borrowing and similar agreements classified as: 2 – trading assets 21,465 (280 ) 21,185 (1,553 ) (19,630 ) — 2 165 21,350 – non-trading assets 348,561 (134,772 ) 213,789 (28,826 ) (184,495 ) (189 ) 279 27,549 241,338 Loans and advances to customers 3 33,039 (10,128 ) 22,911 (18,893 ) — — 4,018 735 23,646 At 31 Dec 2019 680,326 (186,919 ) 493,407 (220,643 ) (217,220 ) (47,593 ) 7,951 35,922 529,329 Derivatives (Note 15) 1 250,275 (49,711 ) 200,564 (145,785 ) (9,986 ) (38,031 ) 6,762 7,261 207,825 Reverse repos, stock borrowing and similar agreements classified as: 2 – trading assets 18,217 (790 ) 17,427 (1,244 ) (16,179 ) — 4 853 18,280 – non-trading assets 372,358 (167,313 ) 205,045 (21,788 ) (182,995 ) (100 ) 162 37,759 242,804 Loans and advances to customers 3 40,534 (12,468 ) 28,066 (21,245 ) — — 6,821 536 28,602 At 31 Dec 2018 681,384 (230,282 ) 451,102 (190,062 ) (209,160 ) (38,131 ) 13,749 46,409 497,511 Financial liabilities Derivatives (Note 15) 1 275,286 (41,739 ) 233,547 (171,371 ) (20,137 ) (37,844 ) 4,195 5,950 239,497 Repos, stock lending and similar agreements classified as: 2 – trading liabilities 10,494 (280 ) 10,214 (1,553 ) (8,656 ) — 5 46 10,260 – non-trading liabilities 232,675 (134,772 ) 97,903 (28,826 ) (68,638 ) (357 ) 82 42,441 140,344 Customer accounts 4 36,750 (10,128 ) 26,622 (18,893 ) — — 7,729 31 26,653 At 31 Dec 2019 555,205 (186,919 ) 368,286 (220,643 ) (97,431 ) (38,201 ) 12,011 48,468 416,754 Derivatives (Note 15) 1 248,123 (49,711 ) 198,412 (145,785 ) (14,895 ) (29,998 ) 7,734 7,423 205,835 Repos, stock lending and similar agreements classified as: 2 – trading liabilities 13,169 (790 ) 12,379 (1,244 ) (11,133 ) — 2 114 12,493 – non-trading liabilities 274,367 (167,313 ) 107,054 (21,788 ) (85,087 ) (164 ) 15 58,830 165,884 Customer accounts 4 40,286 (12,468 ) 27,818 (21,245 ) — — 6,573 11 27,829 At 31 Dec 2018 575,945 (230,282 ) 345,663 (190,062 ) (111,115 ) (30,162 ) 14,324 66,378 412,041 1 At 31 December 2019, the amount of cash margin received that had been offset against the gross derivatives assets was $2,350m (2018: $3,935m ). The amount of cash margin paid that had been offset against the gross derivatives liabilities was $8,303m (2018: $5,888m ). 2 For the amount of repos, reverse repos, stock lending, stock borrowing and similar agreements recognised on the balance sheet within ‘Trading assets’ $ 21,350m (2018: $ 18,280m ) and ‘Trading liabilities’ $ 10,260m (2018: $ 12,493m ), see the ‘Funding sources and uses’ table on page 169 . 3 At 31 December 2019, the total amount of ‘Loans and advances to customers’ was $ 1,036,743m (2018: $ 981,696m ), of which $ 22,911m (2018: $ 28,066m ) was subject to offsetting. 4 At 31 December 2019, the total amount of ‘Customer accounts’ was $ 1,439,115m (2018: $ 1,362,643m ), of which $ 26,622m (2018: $ 27,818m ) was subject to offsetting. 5 These exposures continue to be se |
Offsetting of financial assets
Offsetting of financial assets and financial liabilities | 12 Months Ended |
Dec. 31, 2019 | |
Financial Instruments [Abstract] | |
Offsetting of financial assets and financial liabilities | 16 Financial investments Carrying amount of financial investments 2019 2018 Footnotes $m $m Financial investments measured at fair value through other comprehensive income 357,577 344,767 – treasury and other eligible bills 95,043 96,642 – debt securities 260,536 246,371 – equity securities 1,913 1,657 – other instruments 1 85 97 Debt instruments measured at amortised cost 2 85,735 62,666 – treasury and other eligible bills 10,476 679 – debt securities 75,259 61,987 At 31 Dec 443,312 407,433 1 ‘Other instruments’ comprises of loans and advances. 2 Fair value $89.1 bn ( 2018 : $62.1 bn). Equity instruments measured at fair value through other comprehensive income Fair value Dividends recognised Type of equity instruments $m $m Investments required by central institutions 738 22 Business facilitation 1,124 19 Others 51 9 At 31 Dec 2019 1,913 50 Investments required by central institutions 848 34 Business facilitation 758 21 Others 51 9 At 31 Dec 2018 1,657 64 Financial investments at amortised cost and fair value 2019 2018 Amortised cost Fair value 1 Amortised cost Fair value 1 Footnotes $m $m $m $m US Treasury 79,633 80,589 54,941 54,763 US Government agencies 2 26,356 26,387 21,058 20,580 US Government-sponsored entities 2 8,070 8,259 12,867 12,701 UK Government 28,621 28,973 20,576 21,083 Hong Kong Government 47,824 47,820 49,956 49,955 Other governments 140,510 142,511 142,495 144,099 Asset-backed securities 3 2,954 2,889 3,579 3,390 Corporate debt and other securities 101,750 107,364 97,286 98,419 Equities 1,241 1,913 1,353 1,657 At 31 Dec 436,959 446,705 404,111 406,647 1 Included within ‘fair value’ figures are debt securities issued by banks and other financial institutions of $ 61 bn ( 2018 : $56 bn), of which $ 11 bn ( 2018 : $8 bn) are guaranteed by various governments. 2 Includes securities that are supported by an explicit guarantee issued by the US Government. 3 Excludes asset-backed securities included under US Government agencies and sponsored entities. Maturities of investments in debt securities at their carrying amount Up to 1 year 1 to 5 years 5 to 10 years Over 10 years Total $m $m $m $m $m Debt securities measured at fair value through other comprehensive income 61,833 123,740 42,831 32,132 260,536 Debt securities measured at amortised cost 5,472 14,395 21,431 33,961 75,259 At 31 Dec 2019 67,305 138,135 64,262 66,093 335,795 Debt securities measured at fair value through other comprehensive income 61,598 124,075 36,194 24,504 246,371 Debt securities measured at amortised cost 2,519 10,086 16,065 33,317 61,987 At 31 Dec 2018 64,117 134,161 52,259 57,821 308,358 Contractual maturities and weighted average yields of investment debt securities Up to 1 year 1 to 5 years 5 to 10 years Over 10 years Amount Yield Amount Yield Amount Yield Amount Yield $m % $m % $m % $m % Debt securities measured at fair value through other comprehensive income US Treasury 6,322 2.1 26,834 2.0 18,208 2.0 3,268 2.9 US Government agencies — — 79 2.2 1 4.7 15,581 2.6 US Government-sponsored agencies 725 2.8 167 3.1 1,940 2.8 2,191 3.0 UK Government 4,681 1.3 4,393 1.1 4,443 0.2 2,811 2.8 Hong Kong Government 559 1.3 145 1.8 152 3.2 — — Other governments 39,144 2.3 54,689 2.8 11,478 1.7 1,862 3.6 Asset-backed securities 18 2.7 1 0.5 325 3.1 2,610 2.2 Corporate debt and other securities 9,735 2.0 34,921 1.8 4,879 2.2 2,795 3.4 Total amortised cost at 31 Dec 2019 61,184 121,229 41,426 31,118 Total carrying value 61,833 123,740 42,831 32,132 Debt securities measured at amortised cost US Treasury 3,010 1.9 4,879 1.8 2,931 1.9 141 4.2 US Government agencies — — 13 3.8 19 3.5 10,286 2.6 US Government-sponsored agencies — — 482 2.7 551 2.3 2,015 3.2 Hong Kong Government 10 1.6 20 1.6 9 1.4 — — Other governments 128 4.4 552 3.4 487 3.1 832 4.2 Asset-backed securities — — — — — — 2 7.5 Corporate debt and other securities 2,324 3.5 8,449 3.4 17,434 3.3 20,685 3.8 Total amortised cost at 31 Dec 2019 5,472 14,395 21,431 33,961 Total carrying value 5,472 14,395 21,431 33,961 The maturity distributions of ABSs are presented in the above table on the basis of contractual maturity dates. The weighted average yield for each range of maturities is calculated by dividing the annualised interest income for the year ended 31 December 2019 by the book amount of debt securities at that date. The yields do not include the effect of related derivatives. HSBC Holdings HSBC Holdings carrying amount of financial investments 2019 2018 Footnotes $m $m Debt instruments measured at amortised cost 1 – treasury and other eligible bills 10,081 — – debt securities 6,025 — At 31 Dec 16,106 — 1 The 2019 period includes $ 16.1b n (2018: nil ) of investments in highly liquid securities. Financial investments at amortised cost and fair value 2019 2018 Amortised cost Fair value Amortised cost Fair value $m $m $m $m US Treasury 16,106 16,121 — — US Government agencies — — — — US Government-sponsored entities — — — — At 31 Dec 16,106 16,121 — — Maturities of investments in debt securities at their carrying amount Up to 1 year 1 to 5 years 5 to 10 years Over 10 years Total $m $m $m $m $m Debt securities measured at amortised cost 3,010 3,015 — — 6,025 At 31 Dec 2019 3,010 3,015 — — 6,025 Debt securities measured at amortised cost — — — — — At 31 Dec 2018 — — — — — Contractual maturities and weighted average yields of investment debt securities Up to 1 year 1 to 5 years 5 to 10 years Over 10 years Amount Yield Amount Yield Amount Yield Amount Yield $m % $m % $m % $m % Debt securities measured at amortised cost US Treasury 3,010 1.9 3,015 1.7 — — — — US Government agencies — — — — — — — — US Government-sponsored agencies — — — — — — — — Total amortised cost at 31 Dec 2019 3,010 3,015 — — Total carrying value 3,010 3,015 — — The weighted average yield for each range of maturities is calculated by dividing the annualised interest income for the year ended 31 December 2019 by the book amount of debt securities at that date. The yields do not include the effect of related derivatives. 24 Financial liabilities designated at fair value HSBC 2019 2018 Footnotes $m $m Deposits by banks and customer accounts 1 17,660 19,003 Liabilities to customers under investment contracts 5,893 5,458 Debt securities in issue (Note 25) 130,364 109,351 Subordinated liabilities (Note 28) 10,130 14,282 Preferred securities (Note 28) 419 411 At 31 Dec 164,466 148,505 1 Structured deposits placed at HSBC Bank USA and HSBC Trust Company (Delaware) National Association are insured by the Federal Deposit Insurance Corporation, a US government agency, up to $250,000 per depositor. The carrying amount of financial liabilities designated at fair value was $6,120 m more than the contractual amount at maturity ( 2018 : $11,496 m less). The cumulative amount of change in fair value attributable to changes in credit risk was a loss of $2,877 m ( 2018 : loss of $209 m). HSBC Holdings 2019 2018 $m $m Debt securities in issue (Note 25) 24,687 17,767 Subordinated liabilities (Note 28) 5,616 7,282 At 31 Dec 30,303 25,049 The carrying amount of financial liabilities designated at fair value was $ 2,227m more than the contractual amount at maturity 920m more). The cumulative amount of change in fair value attributable to changes in credit risk was a loss of $ 1,386m (2018: loss of $812m ). 29 Maturity analysis of assets, liabilities and off-balance sheet commitments The table on page 330 provides an analysis of consolidated total assets, liabilities and off-balance sheet commitments by residual contractual maturity at the balance sheet date. These balances are included in the maturity analysis as follows: • Trading assets and liabilities (including trading derivatives but excluding reverse repos, repos and debt securities in issue) are included in the ‘Due not more than 1 month’ time bucket, because trading balances are typically held for short periods of time. • Financial assets and liabilities with no contractual maturity (such as equity securities) are included in the ‘Due over 5 years’ time bucket. Undated or perpetual instruments are classified based on the contractual notice period, which the counterparty of the instrument is entitled to give. Where there is no contractual notice period, undated or perpetual contracts are included in the ‘Due over 5 years’ time bucket. • Non-financial assets and liabilities with no contractual maturity are included in the ‘Due over 5 years’ time bucket. • Financial instruments included within assets and liabilities of disposal groups held for sale are classified on the basis of the contractual maturity of the underlying instruments and not on the basis of the disposal transaction. • Liabilities under insurance contracts are included in the ‘Due over 5 years’ time bucket. Liabilities under investment contracts are classified in accordance with their contractual maturity. Undated investment contracts are included in the ‘Due over 5 years’ time bucket, although such contracts are subject to surrender and transfer options by the policyholders. • Loan and other credit-related commitments are classified on the basis of the earliest date they can be drawn down. HSBC Maturity analysis of assets, liabilities and off-balance sheet commitments Due not Due over Due over Due over Due over Due over Due over Due over Total $m $m $m $m $m $m $m $m $m Financial assets Cash and balances at central banks 154,099 — — — — — — — 154,099 Items in the course of collection from other banks 4,956 — — — — — — — 4,956 Hong Kong Government certificates of indebtedness 38,380 — — — — — — — 38,380 Trading assets 252,009 644 412 62 452 152 540 — 254,271 Financial assets designated or otherwise mandatorily measured at fair value 4,846 74 381 200 422 780 2,356 34,568 43,627 Derivatives 241,941 150 24 27 22 112 294 425 242,995 Loans and advances to banks 41,554 7,826 4,877 2,592 2,859 6,848 2,005 642 69,203 Loans and advances to customers 190,675 82,379 61,254 36,005 36,755 106,203 227,811 295,661 1,036,743 – personal 51,893 14,547 8,562 7,245 6,931 22,923 66,761 252,275 431,137 – corporate and commercial 118,585 61,629 45,924 25,006 25,069 71,751 147,139 39,958 535,061 – financial 20,197 6,203 6,768 3,754 4,755 11,529 13,911 3,428 70,545 Reverse repurchase agreements 164,741 38,997 17,933 8,226 6,305 2,298 2,362 — 240,862 Financial investments 36,128 64,472 35,795 17,485 18,202 48,427 90,193 132,610 443,312 Accrued income and other financial assets 80,661 5,544 2,532 915 495 432 363 2,037 92,979 Financial assets at 31 Dec 2019 1,209,990 200,086 123,208 65,512 65,512 165,252 325,924 465,943 2,621,427 Non-financial assets — — — — — — — 93,725 93,725 Total assets at 31 Dec 2019 1,209,990 200,086 123,208 65,512 65,512 165,252 325,924 559,668 2,715,152 Off-balance sheet commitments received Loan and other credit-related commitments 63,199 — — — — — — — 63,199 Financial liabilities Hong Kong currency notes in circulation 38,380 — — — — — — — 38,380 Deposits by banks 46,397 4,167 2,773 454 844 2,455 876 1,056 59,022 Customer accounts 1 1,287,358 81,038 38,343 11,530 11,342 5,275 4,075 154 1,439,115 – personal 646,843 49,405 29,320 8,484 6,852 3,631 2,646 71 747,252 – corporate and commercial 479,763 24,214 7,162 2,621 3,009 1,119 1,388 41 519,317 – financial 160,752 7,419 1,861 425 1,481 525 41 42 172,546 Repurchase agreements 132,042 3,402 1,579 1,882 59 354 2 1,024 140,344 Items in the course of transmission to other banks 4,817 — — — — — — — 4,817 Trading liabilities 82,130 209 265 148 102 287 29 — 83,170 Financial liabilities designated at 12,844 4,667 4,236 4,552 5,196 26,081 43,534 63,356 164,466 – debt securities in issue: covered bonds — — — — 1,139 — 2,663 1,159 4,961 – debt securities in issue: unsecured 8,884 2,046 2,946 3,757 3,030 22,950 34,753 47,036 125,402 – subordinated liabilities and preferred securities 23 — — — — — 2,131 8,396 10,550 – other 3,937 2,621 1,290 795 1,027 3,131 3,987 6,765 23,553 Derivatives 237,901 105 73 10 18 68 540 782 239,497 Debt securities in issue 8,183 17,374 12,799 13,152 11,382 14,572 20,048 7,045 104,555 – covered bonds — — — — — 749 998 — 1,747 – otherwise secured 2,015 2 248 161 — 219 958 1,663 5,266 – unsecured 6,168 17,372 12,551 12,991 11,382 13,604 18,092 5,382 97,542 Accruals and other financial liabilities 87,796 9,078 3,914 1,244 2,058 1,592 2,823 2,890 111,395 Subordinated liabilities 1,502 — 22 1,993 100 755 424 19,804 24,600 Total financial liabilities at 31 Dec 2019 1,939,350 120,040 64,004 34,965 31,101 51,439 72,351 96,111 2,409,361 Non-financial liabilities — — — — — — — 113,123 113,123 Total liabilities at 31 Dec 2019 1,939,350 120,040 64,004 34,965 31,101 51,439 72,351 209,234 2,522,484 Off-balance sheet commitments given Loan and other credit-related commitments 794,336 600 590 313 551 442 458 318 797,608 – personal 221,952 40 39 56 167 208 392 299 223,153 – corporate and commercial 460,569 117 96 52 381 218 66 19 461,518 – financial 111,815 443 455 205 3 16 — — 112,937 Maturity analysis of assets, liabilities and off-balance sheet commitments (continued) Due not more than 1 month Due over 1 month but not more than 3 months Due over 3 months but not more than 6 months Due over 6 months but not more than 9 months Due over 9 months but not more than 1 year Due over 1 year but not more than 2 years Due over 2 years but not more than 5 years Due over 5 years Total $m $m $m $m $m $m $m $m $m Financial assets Cash and balances at central banks 162,843 — — — — — — — 162,843 Items in the course of collection from other banks 5,787 — — — — — — — 5,787 Hong Kong Government certificates of indebtedness 35,859 — — — — — — — 35,859 Trading assets 235,443 264 707 744 104 197 671 — 238,130 Financial assets designated at fair value 7,743 49 371 145 334 918 2,415 29,136 41,111 Derivatives 206,925 15 57 79 18 69 328 334 207,825 Loans and advances to banks 40,114 10,421 3,486 2,004 3,282 7,158 4,508 1,194 72,167 Loans and advances to customers 178,613 72,072 58,680 38,394 37,333 101,267 219,841 275,496 981,696 – personal 41,967 8,736 8,237 7,581 7,240 24,942 63,061 229,626 391,390 – corporate and commercial 118,294 58,623 45,918 27,001 25,597 67,093 143,959 42,540 529,025 – financial 18,352 4,713 4,525 3,812 4,496 9,232 12,821 3,330 61,281 Reverse repurchase agreements – non-trading 172,795 41,084 13,308 5,763 3,574 5,253 1,027 — 242,804 Financial investments 40,421 58,731 30,464 15,707 15,357 41,866 92,846 112,041 407,433 Accrued income and other financial assets 62,067 6,893 2,403 561 307 349 731 2,237 75,548 Financial assets at 31 Dec 2018 1,148,610 189,529 109,476 63,397 60,309 157,077 322,367 420,438 2,471,203 Non-financial assets — — — — — — — 86,921 86,921 Total assets at 31 Dec 2018 1,148,610 189,529 109,476 63,397 60,309 157,077 322,367 507,359 2,558,124 Off-balance sheet commitments received Loan and other credit-related commitments 73,464 — — — 1 3 98 656 74,222 Financial liabilities Hong Kong currency notes in circulation 35,859 — — — — — — — 35,859 Deposits by banks 42,406 3,457 1,043 784 542 5,558 1,655 886 56,331 Customer accounts 1 1,225,919 66,990 31,315 17,218 13,760 4,122 3,194 125 1,362,643 – personal 612,325 38,132 21,218 11,483 8,282 2,853 2,623 53 696,969 – corporate and commercial 457,661 22,922 8,029 4,599 4,317 1,092 509 29 499,158 – financial 155,933 5,936 2,068 1,136 1,161 177 62 43 166,516 Repurchase agreements – non-trading 154,383 8,140 1,750 629 73 408 501 — 165,884 Items in the course of transmission to other banks 5,641 — — — — — — — 5,641 Trading liabilities 82,867 251 326 633 81 235 36 2 84,431 Financial liabilities designated at fair value 3,813 4,476 6,878 3,076 3,481 12,545 53,615 60,621 148,505 – debt securities in issue: covered bonds — — 205 — — 1,190 2,721 1,137 5,253 – debt securities in issue: unsecured 981 1,562 2,659 2,290 2,353 9,143 47,443 37,633 104,064 – subordinated liabilities and preferred securities — — 2,125 — — — — 12,568 14,693 – other 2,832 2,914 1,889 786 1,128 2,212 3,451 9,283 24,495 Derivatives 203,962 62 135 191 144 560 159 622 205,835 Debt securities in issue 6,777 11,194 12,556 8,075 3,330 10,670 19,713 13,027 85,342 – covered bonds — — — — — — 748 — 748 – otherwise secured 2,166 1,100 30 — — 394 944 1,412 6,046 – unsecured 4,611 10,094 12,526 8,075 3,330 10,276 18,021 11,615 78,548 Accruals and other financial liabilities 69,958 8,986 3,296 659 1,269 885 1,027 1,300 87,380 Subordinated liabilities 6 89 3 — — 1,996 1,384 18,959 22,437 Total financial liabilities at 31 Dec 2018 1,831,591 103,645 57,302 31,265 22,680 36,979 81,284 95,542 2,260,288 Non-financial liabilities — — — — — — — 103,587 103,587 Total liabilities at 31 Dec 2018 1,831,591 103,645 57,302 31,265 22,680 36,979 81,284 199,129 2,363,875 Off-balance sheet commitments given Loan and other credit-related commitments 769,311 5,281 941 1,972 1,257 361 731 412 780,266 – personal 203,622 974 59 32 201 280 556 331 206,055 – corporate and commercial 441,199 2,694 799 1,895 974 34 150 73 447,818 – financial 124,490 1,613 83 45 82 47 25 8 126,393 1 ‘Customer accounts’ includes $ 408,090m (2018: $364,729m ) insured by guarantee schemes. HSBC Holdings Maturity analysis of assets, liabilities and off-balance sheet commitments (continued) Due not more than 1 month Due over 1 month but not more than 3 months Due over 3 months but not more than 6 months Due over 6 months but not more than 9 months Due over 9 months but not more than 1 year Due over 1 year but not more than 2 years Due over 2 years but not more than 5 years Due over 5 years Total $m $m $m $m $m $m $m $m $m Financial assets Cash at bank and in hand: – balances with HSBC undertakings 2,382 — — — — — — — 2,382 Derivatives 596 — — — — — 230 1,176 2,002 Loans and advances to HSBC undertakings 102 672 120 25 — 600 1,909 6,790 10,218 Financial assets with HSBC undertakings designated and otherwise mandatorily measured at fair value — — — — — 458 24,845 36,661 61,964 Financial investments 2,754 3,493 1,873 2,251 2,721 3,014 — — 16,106 Accrued income and other financial assets 93 277 97 48 16 12 — — 543 Total financial assets at 5,927 4,442 2,090 2,324 2,737 4,084 26,984 44,627 93,215 Non-financial assets — — — — — — — 162,025 162,025 Total assets at 31 Dec 2019 5,927 4,442 2,090 2,324 2,737 4,084 26,984 206,652 255,240 Financial liabilities Amounts owed to HSBC undertakings — 464 — — — — — — 464 Financial liabilities designated at fair value — — — — — 5,651 6,710 17,942 30,303 – debt securities in issue — — — — — 5,651 6,710 12,326 24,687 – subordinated liabilities and preferred securities — — — — — — — 5,616 5,616 Derivatives 1,838 — — — — 20 85 78 2,021 Debt securities in issue — — — — — 10,134 23,786 22,924 56,844 Accruals and other financial liabilities 900 574 303 55 10 — — 35 1,877 Subordinated liabilities 1,503 — — — — — 2,076 14,782 18,361 31 Dec 2019 4,241 1,038 303 55 10 15,805 32,657 55,761 109,870 Non-financial liabilities — — — — — — — 326 326 Total liabilities at 31 Dec 2019 4,241 1,038 303 55 10 15,805 32,657 56,087 110,196 Off-balance sheet commitments given Undrawn formal standby facilities, credit lines and other commitments to lend — — — — — — — — — Maturity analysis of assets, liabilities and off-balance sheet commitments (continued) Due not more than 1 month Due over 1 month but not more than 3 months Due over 3 months but not more than 6 months Due over 6 months but not more than 9 months Due over 9 months but not more than 1 year Due over 1 year but not more than 2 years Due over 2 years but not more than 5 years Due over 5 years Total $m $m $m $m $m $m $m $m $m Financial assets Cash at bank and in hand: – balances with HSBC undertakings 3,509 — — — — — — — 3,509 Derivatives 540 — — — — — — 167 707 Loans and advances to HSBC undertakings 3,052 11,563 158 968 1 — 14,062 26,340 56,144 Loans and advances to HSBC undertakings designated at fair value — — — — — — 8,116 15,397 23,513 Financial investments in HSBC undertakings — — — — — — — — — Accrued income and other financial assets 33 27 — — — — — 60 Total financial assets at 31 Dec 2018 7,134 11,590 158 968 1 — 22,178 41,904 83,933 Non-financial assets — — — — — — — 161,248 161,248 Total assets at 31 Dec 2018 7,134 11,590 158 968 1 — 22,178 203,152 245,181 Financial liabilities Amounts owed to HSBC undertakings — 949 — — — — — — 949 Financial liabilities designated at fair value — — 2,125 — — — 12,306 10,618 25,049 – debt securities in issue — — — — — — 12,306 5,461 17,767 – subordinated liabilities and preferred securities — — 2,125 — — — — 5,157 7,282 Derivatives 1,321 — — — — — 339 499 2,159 Debt securities in issue — — — — — — 23,770 27,030 50,800 Accruals and other financial liabilities 319 353 188 36 5 — — 41 942 Subordinated liabilities — — — — — — — 17,715 17,715 Total financial liabilities at 31 Dec 2018 1,640 1,302 2,313 36 5 — 36,415 55,903 97,614 Non-financial liabilities — — — — — — — 214 214 Total liabilities at 31 Dec 2018 1,640 1,302 2,313 36 5 — 36,415 56,117 97,828 Off-balance sheet commitments given Undrawn formal standby facilities, credit lines and other commitments to lend — — — — — — — — — Contractual maturity of financial liabilities The following table shows, on an undiscounted basis, all cash flows relating to principal and future coupon payments (except for trading liabilities and derivatives not treated as hedging derivatives). For this reason, balances in the following table do not agree directly with those in our consolidated balance sheet. Undiscounted cash flows payable in relation to hedging derivative liabilities are classified according to their contractual maturities. Trading liabilities and derivatives not treated as hedging derivatives are included in the ‘Due not more than 1 month’ time bucket and not by contractual maturity. In addition, loans and other credit-related commitments and financial guarantees are generally not recognised on our balance sheet. The undiscounted cash flows potentially payable under loan and other credit-related commitments and financial guarantees are classified on the basis of the earliest date they can be called. Cash flows payable by HSBC under financial liabilities by remaining contractual maturities Due not more than 1 month Due over 1 month but not more than 3 months Due over 3 months but not more than 1 year Due over 1 year but not more than 5 years Due over Total $m $m $m $m $m $m Deposits by banks 46,471 4,167 4,227 3,371 1,084 59,320 Customer accounts 1,288,577 81,037 62,105 9,900 191 1,441,810 Repurchase agreements – non-trading 132,156 3,403 3,565 368 1,036 140,528 Trading liabilities 83,170 — — — — 83,170 Financial liabilities designated at fair value 13,447 4,666 14,747 76,155 68,045 177,060 Derivatives 237,897 105 522 1,076 1,691 241,291 Debt securities in issue 8,757 17,374 38,423 36,584 8,177 109,315 Subordinated liabilities 1,847 — 2,908 5,197 27,892 37,844 Other financial liabilities 127,898 9,079 6,792 5,637 2,992 152,398 1,940,220 119,831 133,289 138,288 111,108 2,442,736 Loan and other credit-related commitments 795,243 601 561 886 317 797,608 Financial guarantees 1 20,007 37 102 68 — 20,214 At 31 Dec 2019 2,755,470 120,469 133,952 139,242 111,425 3,260,558 Proportion of cash flows payable in period 85% 4% 4% 4% 3% Deposits by banks 42,569 3,457 2,419 7,507 556 56,508 Customer accounts 1,226,828 66,990 62,963 7,617 130 1,364,528 Repurchase agreements – non-trading 154,541 8,140 2,487 950 — 166,118 Trading liabilities 84,431 — — — — 84,431 Financial liabilities designated at fair value 4,478 4,476 15,591 75,578 89,261 189,384 Derivatives 204,360 62 927 2,065 1,323 208,737 Debt securities in issue 7,295 11,194 24,902 36,599 13,656 93,646 Subordinated liabilities 349 89 793 7,600 27,670 36,501 Other financial liabilities 110,337 8,987 4,694 2,367 1,260 127,645 1,835,188 103,395 114,776 140,283 133,856 2,327,498 Loan and other credit-related commitments 772,557 5,279 1,109 944 377 780,266 Financial guarantees 1 22,942 113 289 160 14 23,518 At 31 Dec 2018 2,630,687 108,787 116,174 141,387 134,247 3,131,282 Proportion of cash flows payable in period 84% 3% 4% 5% 4% 1 Excludes performance guarantee contracts to which the impairment requirements in IFRS 9 are not applied. HSBC Holdings HSBC Holdings’ primary sources of liquidity are dividends received from subsidiaries, interest on and repayment of intra-Group loans and securities, and interest earned on its own liquid funds. HSBC Holdings also raises funds in the debt capital markets to meet the Group’s minimum requirement for own funds and eligible liabilities. HSBC Holdings uses this liquidity to meet its obligations, including interest and principal repayments on external debt liabilities, operating expenses and collateral on derivative transactions. HSBC Holdings is also subject to contingent liquidity risk by virtue of credit-related commitments and guarantees and similar contracts issued relating to its subsidiaries. Such commitments and guarantees are only issued after due consideration of HSBC Holdings’ ability to finance the commitments and guarantees and the likelihood of the need arising. HSBC Holdings actively manages the cash flows from its subsidiaries to optimise the amount of cash held at the holding company level. During 2019, consistent with the Group’s capital plan, the Group’s subsidiaries did not experience any significant restrictions on paying dividends or repaying loans and advances. Also, there are no foreseen restrictions envisaged with regard to planned dividends or payments. However, the ability of subsidiaries to pay dividends or advance monies to HSBC Holdings depends on, among other things, their respective local regulatory capital and banking requirements, exchange controls, statutory reserves, and financial and operating performance. HSBC Holdings currently has sufficient liquidity to meet its present requirements. Liquidity risk in HSBC Holdings is overseen by Holdings ALCO. This risk arises because of HSBC Holdings’ obligation to make payments to debt holders as they fall due and to pay its operating expenses. The liquidity risk related to these cash flows is managed by matching external debt obligations with internal loan cash flows and by maintaining an appropriate liquidity buffer that is monitored by Holdings ALCO. The balances in the following table are not directly comparable with those on the balance sheet of HSBC Holdings as the table incorporates, on an undiscounted basis, all cash flows relating to principal and future coupon payments (except for derivatives not treated as hedging derivatives). Undiscounted cash flows payable in relation to hedging derivative liabilities are classified according to their contractual maturities. Derivatives not treated as hedging derivatives are included in the ‘On demand’ time bucket. In addition, loan commitments and financial guarantees and similar contracts are generally not recognised on our balance sheet. The undiscounted cash flows potentially payable under financial guarantees and similar contracts are classified on the basis of the earliest date on which they can be called. Cash flows payable by HSBC Holdings under financial liabilities by remaining contractual maturities Due not more than 1 month Due over 1 month but not more than 3 months Due over 3 months but not more than 1 year Due over 1 year but not more than 5 years Due over Total Footnotes $m $m $m $m $m $m Amounts owed to HSBC undertakings — 464 — — — 464 Financial liabilities designated at fair value 88 168 784 14,776 18,184 34,000 Derivatives 1,838 — — 105 78 2,021 Debt securities in issue 128 244 1,137 38,690 25,310 65,509 Subordinated liabilities 1,588 154 718 5,743 21,533 29,736 Other financial liabilities 956 519 365 — — 1,840 4,598 1,549 3,004 59,314 65,105 133,570 Loan commitments — — — — — — Financial guarantees 1 11,061 — — — — 11,061 At 31 Dec 2019 15,659 1,549 3,004 59,314 65,105 144,631 Amounts owed to HSBC undertakings — 949 — — — 949 Financial liabilities designated at fair value — 237 2,656 14,384 11,653 28,930 Derivatives 1,321 — — 339 499 2,159 Debt securities in issue — 379 1,159 29,178 30,801 61,517 Subordinated liabilities — 248 757 4,019 25,311 30,335 Other financial liabilities — 675 228 — — 903 1,321 2,488 4,800 47,920 68,264 124,793 Loan commitments — — — — — — Financial guarantees 1 8,627 — — — — 8,627 At 31 Dec 2018 9,948 2,488 4,800 47,920 68,264 133,420 1 Excludes performance guarantee contracts to which the impairment requirements in IFRS 9 are not applied. 30 Offsetting of financial assets and financial liabilities In the following table, the ‘Amounts not set off in the balance sheet’ include transactions where: • the counterparty has an offsetting exposure with HSBC and a master netting or similar arrangement is in place with a right to set off only in the event of default, insolvency or bankruptcy, or the offset criteria are otherwise not satisfied; and • in the case of derivatives and reverse repurchase/repurchase, stock borrowing/lending and similar agreements, cash and non-cash collateral has been received/pledged. For risk management purposes, the net amounts of loans and advances to customers are subject to limits, which are monitored and the relevant customer agreements are subject to review and updated, as necessary, to ensure the legal right to set off remains appropriate. Offsetting of financial assets and financial liabilities Amounts subject to enforceable netting arrangements Amounts not subject to enforceable netting arrangements 5 Total Amounts not set off in the balance sheet Gross amounts Amounts offset Net amounts in the balance sheet Financial instruments Non-cash collateral Cash collateral Net amount Footnotes $m $m $m $m $m $m $m $m $m Financial assets Derivatives (Note 15) 1 277,261 (41,739 ) 235,522 (171,371 ) (13,095 ) (47,404 ) 3,652 7,473 242,995 Reverse repos, stock borrowing and similar agreements classified as: 2 – trading assets 21,465 (280 ) 21,185 (1,553 ) (19,630 ) — 2 165 21,350 – non-trading assets 348,561 (134,772 ) 213,789 (28,826 ) (184,495 ) (189 ) 279 27,549 241,338 Loans and advances to customers 3 33,039 (10,128 ) 22,911 (18,893 ) — — 4,018 735 23,646 At 31 Dec 2019 680,326 (186,919 ) 493,407 (220,643 ) (217,220 ) (47,593 ) 7,951 35,922 529,329 Derivatives (Note 15) 1 250,275 (49,711 ) 200,564 (145,785 ) (9,986 ) (38,031 ) 6,762 7,261 207,825 Reverse repos, stock borrowing and similar agreements classified as: 2 – trading assets 18,217 (790 ) 17,427 (1,244 ) (16,179 ) — 4 853 18,280 – non-trading assets 372,358 (167,313 ) 205,045 (21,788 ) (182,995 ) (100 ) 162 37,759 242,804 Loans and advances to customers 3 40,534 (12,468 ) 28,066 (21,245 ) — — 6,821 536 28,602 At 31 Dec 2018 681,384 (230,282 ) 451,102 (190,062 ) (209,160 ) (38,131 ) 13,749 46,409 497,511 Financial liabilities Derivatives (Note 15) 1 275,286 (41,739 ) 233,547 (171,371 ) (20,137 ) (37,844 ) 4,195 5,950 239,497 Repos, stock lending and similar agreements classified as: 2 – trading liabilities 10,494 (280 ) 10,214 (1,553 ) (8,656 ) — 5 46 10,260 – non-trading liabilities 232,675 (134,772 ) 97,903 (28,826 ) (68,638 ) (357 ) 82 42,441 140,344 Customer accounts 4 36,750 (10,128 ) 26,622 (18,893 ) — — 7,729 31 26,653 At 31 Dec 2019 555,205 (186,919 ) 368,286 (220,643 ) (97,431 ) (38,201 ) 12,011 48,468 416,754 Derivatives (Note 15) 1 248,123 (49,711 ) 198,412 (145,785 ) (14,895 ) (29,998 ) 7,734 7,423 205,835 Repos, stock lending and similar agreements classified as: 2 – trading liabilities 13,169 (790 ) 12,379 (1,244 ) (11,133 ) — 2 114 12,493 – non-trading liabilities 274,367 (167,313 ) 107,054 (21,788 ) (85,087 ) (164 ) 15 58,830 165,884 Customer accounts 4 40,286 (12,468 ) 27,818 (21,245 ) — — 6,573 11 27,829 At 31 Dec 2018 575,945 (230,282 ) 345,663 (190,062 ) (111,115 ) (30,162 ) 14,324 66,378 412,041 1 At 31 December 2019, the amount of cash margin received that had been offset against the gross derivatives assets was $2,350m (2018: $3,935m ). The amount of cash margin paid that had been offset against the gross derivatives liabilities was $8,303m (2018: $5,888m ). 2 For the amount of repos, reverse repos, stock lending, stock borrowing and similar agreements recognised on the balance sheet within ‘Trading assets’ $ 21,350m (2018: $ 18,280m ) and ‘Trading liabilities’ $ 10,260m (2018: $ 12,493m ), see the ‘Funding sources and uses’ table on page 169 . 3 At 31 December 2019, the total amount of ‘Loans and advances to customers’ was $ 1,036,743m (2018: $ 981,696m ), of which $ 22,911m (2018: $ 28,066m ) was subject to offsetting. 4 At 31 December 2019, the total amount of ‘Customer accounts’ was $ 1,439,115m (2018: $ 1,362,643m ), of which $ 26,622m (2018: $ 27,818m ) was subject to offsetting. 5 These exposures continue to be se |
Called up share capital and oth
Called up share capital and other equity instruments | 12 Months Ended |
Dec. 31, 2019 | |
Share Capital, Reserves And Other Equity Interest [Abstract] | |
Called up share capital and other equity instruments | 31 Called up share capital and other equity instruments Called up share capital and share premium HSBC Holdings ordinary shares of $0.50 each, issued and fully paid 2019 2018 Footnotes Number $m Number $m At 1 Jan 20,360,841,496 10,180 20,320,716,258 10,160 Shares issued under HSBC employee share plans 71,588,032 36 83,740,460 42 Shares issued in lieu of dividends 341,872,011 171 166,850,869 83 Less: Shares repurchased and cancelled (135,776,994 ) (68 ) (210,466,091 ) (105 ) At 31 Dec 1 20,638,524,545 10,319 20,360,841,496 10,180 HSBC Holdings 6.20% non-cumulative US dollar preference shares, Series A 2019 2018 Footnotes Number $m Number $m At 1 Jan and 31 Dec 2 1,450,000 — 1,450,000 — HSBC Holdings share premium 2019 2018 $m $m At 31 Dec 13,959 13,609 Total called up share capital and share premium 2019 2018 $m $m At 31 Dec 24,278 23,789 1 All HSBC Holdings ordinary shares in issue, excluding 325,273,407 shares held in treasury, confer identical rights, including in respect of capital, dividends and voting. 2 Included in the capital base of HSBC as additional tier 1 capital in accordance with the CRR II rules, by virtue of the application of grandfathering provisions. HSBC Holdings 6.20% non-cumulative US dollar preference shares, Series A of $0.01 HSBC Holdings pays dividends on 6.20% non-cumulative US dollar preference shares, Series A of $0.01 each (‘dollar preference shares’) quarterly, at the discretion of the Board. The Board will not declare a dividend on them if this would stop the Group from meeting the PRA’s capital adequacy requirements, or if profit available for distribution as dividends is insufficient to also pay dividends on other shares that are equally entitled and scheduled on the same date. HSBC Holdings may not declare or pay dividends on shares ranking lower in the right to dividends than dollar preference shares, or redeem or purchase any of its other shares ranking equal or lower than dollar preference shares, unless it has fully paid, or set aside an amount to fully pay, the dividends on the dollar preference shares for the then current dividend period. The dollar preference shares carry no rights to conversion into ordinary shares. Holders of dollar preference shares are only entitled to attend and vote at shareholder meetings if dividends on these shares have not been paid in full on four consecutive dividend payment dates. In such circumstances, holders of these shares are entitled to vote at shareholder meetings until HSBC Holdings has paid a full dividend on them. These securities can be redeemed by HSBC at any time, subject to prior approval by the PRA. HSBC Holdings non-cumulative preference share of £0.01 The one non-cumulative sterling preference share of £0.01 (‘sterling preference share’) has been in issue since 29 December 2010 and is held by a subsidiary of HSBC Holdings. Dividends are paid quarterly at the sole and absolute discretion of the Board. The sterling preference share carries no rights of conversion into ordinary shares of HSBC Holdings and no right to attend or vote at shareholder meetings of HSBC Holdings. These securities can be redeemed by HSBC at any time, subject to prior approval by the PRA. Other equity instruments HSBC Holdings includes three types of additional tier 1 capital securities in its tier 1 capital. Two are presented in this Note and they are the HSBC Holdings non-cumulative preference shares outlined above and the contingent convertible securities described below. These are accounted for as equity because HSBC does not have an obligation to transfer cash or a variable number of its own ordinary shares to holders under any circumstances outside its control. See Note 28 for additional tier 1 securities accounted for as liabilities. Additional tier 1 capital – contingent convertible securities HSBC Holdings continues to issue contingent convertible securities that are included in its capital base as fully CRR II-compliant additional tier 1 capital securities on an end point basis. These securities are marketed principally and subsequently allotted to corporate investors and fund managers. The net proceeds of the issuances are used for HSBC Holdings’ general corporate purposes and to further strengthen its capital base to meet requirements under CRR II. These securities bear a fixed rate of interest until their initial call dates. After the initial call dates, if they are not redeemed, the securities will bear interest at rates fixed periodically in advance for five -year periods based on credit spreads, fixed at issuance, above prevailing market rates. Interest on the contingent convertible securities will be due and payable only at the sole discretion of HSBC Holdings, and HSBC Holdings has sole and absolute discretion at all times to cancel for any reason (in whole or part) any interest payment that would otherwise be payable on any payment date. Distributions will not be paid if they are prohibited under UK banking regulations or if the Group has insufficient reserves or fails to meet the solvency conditions defined in the securities’ terms. The contingent convertible securities are undated and are repayable at the option of HSBC Holdings in whole at the initial call date or on any fifth anniversary after this date. In addition, the securities are repayable at the option of HSBC in whole for certain regulatory or tax reasons. Any repayments require the prior consent of the PRA. These securities rank pari passu with HSBC Holdings’ dollar and sterling preference shares and therefore rank ahead of ordinary shares. The contingent convertible securities will be converted into fully paid ordinary shares of HSBC Holdings at a predetermined price, should HSBC’s consolidated end point CET1 ratio fall below 7.0% . Therefore, in accordance with the terms of the securities, if the end point CET1 ratio breaches the 7.0% trigger, the securities will convert into ordinary shares at fixed contractual conversion prices in the issuance currencies of the relevant securities, equivalent to £2.70 at the prevailing rate of exchange on the issuance date, subject to anti-dilution adjustments. HSBC’s additional tier 1 capital – contingent convertible securities in issue which are accounted for in equity First call 2019 2018 Footnotes $m $m $1,500m 5.625% perpetual subordinated contingent convertible securities 1 Nov 2019 — 1,494 $2,000m 6.875% perpetual subordinated contingent convertible securities Jun 2021 1,995 1,998 $2,250m 6.375% perpetual subordinated contingent convertible securities Sep 2024 2,240 2,244 $2,450m 6.375% perpetual subordinated contingent convertible securities Mar 2025 2,453 2,460 $3,000m 6.000% perpetual subordinated contingent convertible securities May 2027 2,993 2,997 $2,350m 6.250% perpetual subordinated contingent convertible securities Mar 2023 2,346 2,347 $1,800m 6.500% perpetual subordinated contingent convertible securities Mar 2028 1,797 1,798 €1,500m 5.250% perpetual subordinated contingent convertible securities Sep 2022 1,940 1,943 €1,000m 6.000% perpetual subordinated contingent convertible securities Sep 2023 1,119 1,120 €1,250m 4.750% perpetual subordinated contingent convertible securities Jul 2029 1,418 1,420 £1,000m 5.875% perpetual subordinated contingent convertible securities Sep 2026 1,299 1,299 SGD1,000m 4.700% perpetual subordinated contingent convertible securities Jun 2022 722 723 SGD750m 5.000% perpetual subordinated contingent convertible securities Sep 2023 549 549 At 31 Dec 20,871 22,392 1 This security was called by HSBC Holdings on 22 November 2019 and was redeemed and cancelled on 17 January 2020. Between the date of exercise of the call option and the redemption, this security was considered to be a subordinated liability. Please refer to Note 28 . Shares under option For details of the options outstanding to subscribe for HSBC Holdings ordinary shares under the HSBC Holdings savings-related share option plan, see Note 5 . Aggregate options outstanding under these plans 31 Dec 2019 31 Dec 2018 Number of Period of exercise Exercise price Number of HSBC Holdings ordinary shares Period of exercise Exercise price 65,060,681 2019 to 2025 £4.0472–£5.9640 57,065,513 2018 to 2024 £4.0472–£5.9640 Maximum obligation to deliver HSBC Holdings ordinary shares At 31 December 2019, the maximum obligation to deliver HSBC Holdings ordinary shares under all of the above option arrangements and the HSBC International Employee Share Purchase Plan, together with GPSP awards, long-term incentive awards and deferred share awards granted under the HSBC Share Plan 2011, was 163,567,253 (2018: 152,667,912 ). The total number of shares at 31 December 2019 held by employee benefit trusts that may be used to satisfy such obligations to deliver HSBC Holdings ordinary shares was 5,397,395 (2018: 5,928,890 ). |
Contingent liabilities, contrac
Contingent liabilities, contractual commitments and guarantees | 12 Months Ended |
Dec. 31, 2019 | |
Other Provisions, Contingent Liabilities And Contingent Assets [Abstract] | |
Contingent liabilities, contractual commitments and guarantees | 32 Contingent liabilities, contractual commitments and guarantees HSBC HSBC Holdings 1 2019 2018 2019 2018 Footnotes $m $m $m $m Guarantees and other contingent liabilities: – financial guarantees 20,214 23,518 11,061 8,627 – performance and other guarantees 75,933 71,484 — — – other contingent liabilities 1,576 1,408 289 215 At 31 Dec 97,723 96,410 11,350 8,842 Commitments: 2 – documentary credits and short-term trade-related transactions 6,316 7,083 — — – forward asset purchases and forward deposits placed 56,326 67,265 — — – standby facilities, credit lines and other commitments to lend 734,966 705,918 — — At 31 Dec 797,608 780,266 — — 1 Guarantees by HSBC Holdings are all in favour of other Group entities. 2 Includes $600,029m of commitments at 31 December 2019 (31 December 2018: $ 592,008m ), to which the impairment requirements in IFRS 9 are applied where HSBC has become party to an irrevocable commitment . The preceding table discloses the nominal principal amounts of off-balance sheet liabilities and commitments for the Group, which represent the maximum amounts at risk should the contracts be fully drawn upon and the clients default. As a significant portion of guarantees and commitments are expected to expire without being drawn upon, the total of the nominal principal amounts is not indicative of future liquidity requirements. The expected credit loss provision relating to guarantees and commitments under IFRS 9 is disclosed in Note 27 . The majority of the guarantees have a term of less than one year, while guarantees with terms of more than one year are subject to HSBC’s annual credit review process. Contingent liabilities arising from legal proceedings, regulatory and other matters against Group companies are disclosed in Notes 27 and 34 . Financial Services Compensation Scheme The Financial Services Compensation Scheme (‘FSCS’) has provided compensation to customers of financial services firms that have failed. Following the financial crisis, the compensation paid out to customers was initially funded through loans from HM Treasury, which were fully repaid in 2018 by the FSCS . The Group could be liable to pay a proportion of any future amounts that the FSCS borrows from HM Treasury to the extent the industry levies imposed to date are not sufficient to cover the compensation due to customers in any future possible collapse. The ultimate FSCS levy to the industry as a result of a collapse cannot currently be estimated reliably. It is dependent on various uncertain factors including the potential recoveries of assets by the FSCS, changes in the level of protected products (including deposits and investments) and the population of FSCS members at the time . Associates HSBC’s share of associates’ contingent liabilities, contractual commitments and guarantees amounted to $ 46.7bn at 31 December 2019 (2018: $ 48.5bn ). No matters arose where HSBC was severally liable. |
Finance lease receivables
Finance lease receivables | 12 Months Ended |
Dec. 31, 2019 | |
Leases1 [Abstract] | |
Finance lease receivables | 33 Finance lease receivables HSBC leases a variety of assets to third parties under finance leases, including transport assets (such as aircraft), property and general plant and machinery. At the end of lease terms, assets may be sold to third parties or leased for further terms. Rentals are calculated to recover the cost of assets less their residual value, and earn finance income. 2019 2018 Total future Unearned Present Total future 1 Unearned 1 Present 1 $m $m $m $m $m $m Lease receivables: No later than one year 1,674 (157 ) 1,517 2,229 (196 ) 2,033 One to two years 1,634 (155 ) 1,479 N/A N/A N/A Two to three years 1,889 (151 ) 1,738 N/A N/A N/A Three to four years 1,704 (136 ) 1,568 N/A N/A N/A Four to five years 1,558 (132 ) 1,426 N/A N/A N/A Later than one year and no later than five years 6,785 (574 ) 6,211 7,420 (628 ) 6,792 Later than five years 6,136 (614 ) 5,522 5,032 (619 ) 4,413 At 31 Dec 14,595 (1,345 ) 13,250 14,681 (1,443 ) 13,238 1 The disclosure requirements of IFRS 16 were adopted from 1 January 2019. Comparatives have not been restated. |
Legal proceedings and regulator
Legal proceedings and regulatory matters | 12 Months Ended |
Dec. 31, 2019 | |
Other Provisions, Contingent Liabilities And Contingent Assets [Abstract] | |
Legal proceedings and regulatory matters | 34 Legal proceedings and regulatory matters HSBC is party to legal proceedings and regulatory matters in a number of jurisdictions arising out of its normal business operations. Apart from the matters described below, HSBC considers that none of these matters are material. The recognition of provisions is determined in accordance with the accounting policies set out in Note 1 . While the outcome of legal proceedings and regulatory matters is inherently uncertain, management believes that, based on the information available to it, appropriate provisions have been made in respect of these matters as at 31 December 2019 (see Note 27 ). Where an individual provision is material, the fact that a provision has been made is stated and quantified, except to the extent that doing so would be seriously prejudicial. Any provision recognised does not constitute an admission of wrongdoing or legal liability. It is not practicable to provide an aggregate estimate of potential liability for our legal proceedings and regulatory matters as a class of contingent liabilities. Bernard L. Madoff Investment Securities LLC Bernard L. Madoff (‘Madoff’) was arrested in December 2008 and later pleaded guilty to running a Ponzi scheme. His firm, Bernard L. Madoff Investment Securities LLC (‘Madoff Securities’), is being liquidated in the US by a trustee (the ‘Trustee’). Various non-US HSBC companies provided custodial, administration and similar services to a number of funds incorporated outside the US whose assets were invested with Madoff Securities. Based on information provided by Madoff Securities as at 30 November 2008, the purported aggregate value of these funds was $8.4b n, including fictitious profits reported by Madoff. Based on information available to HSBC, the funds’ actual transfers to Madoff Securities minus their actual withdrawals from Madoff Securities during the time HSBC serviced the funds are estimated to have totalled approximately $4b n. Various HSBC companies have been named as defendants in lawsuits arising out of Madoff Securities’ fraud. US litigation: The Trustee has brought lawsuits against various HSBC companies and others in the US Bankruptcy Court for the Southern District of New York (the ‘US Bankruptcy Court’), seeking recovery of transfers from Madoff Securities to HSBC in an amount not yet pleaded or determined. HSBC and other parties to the actions have moved to dismiss the Trustee’s claims. The US Bankruptcy Court granted HSBC’s motion to dismiss with respect to certain of the Trustee’s claims in November 2016. In February 2019, the US Court of Appeals for the Second Circuit (the ‘Second Circuit Court of Appeals’) reversed that dismissal and remanded the cases to the US Bankruptcy Court. In August 2019, HSBC and other parties filed a petition for writ of certiorari to the US Supreme Court seeking review of the Second Circuit Court of Appeals decision. Further proceedings in the US Bankruptcy Court have been stayed pending the resolution of that petition. Fairfield Sentry Limited, Fairfield Sigma Limited and Fairfield Lambda Limited (together, ‘Fairfield’) (in liquidation since July 2009) have brought a lawsuit in the US against fund shareholders, including HSBC companies that acted as nominees for clients, seeking restitution of redemption payments. In December 2018, the US Bankruptcy Court issued an opinion, which ruled in favour of the defendants’ motion to dismiss in respect of certain claims by the liquidators for Fairfield and granted a motion by the liquidators to file amended complaints. As a result of that opinion, all claims against one of the HSBC companies have been dismissed, and certain claims against the remaining HSBC defendants have also been dismissed. In May 2019, the liquidators appealed certain issues from the US Bankruptcy Court opinion to the US District Court for the Southern District of New York (the ’New York District Court’). UK litigation: The Trustee has filed a claim against various HSBC companies in the High Court of England and Wales, seeking recovery of transfers from Madoff Securities to HSBC in an amount not yet pleaded or determined. The deadline for service of the claim has been extended to September 2020 for UK-based defendants and November 2020 for all other defendants. Bermuda litigation: In January 2009, Kingate Global Fund Limited and Kingate Euro Fund Limited (together, ‘Kingate’) brought an action against HSBC Bank Bermuda Limited (‘HBBM’) for recovery of funds held in Kingate’s accounts, fees and dividends. In June 2019, the Trustee, Kingate and HBBM entered into a global settlement agreement pursuant to which the Trustee and Kingate released HBBM from any and all claims arising out of or relating to Kingate including all pending litigation in the US, UK and Bermuda. Following court approval of the settlement in the US, Bermuda and British Virgin Islands, the Bermuda action was discontinued in October 2019, and the Trustee dismissed certain of its US claims against HBBM in November 2019. Cayman Islands litigation: In February 2013, Primeo Fund (‘Primeo’) (in liquidation since April 2009) brought an action against HSBC Securities Services Luxembourg (‘HSSL’) and Bank of Bermuda (Cayman) Limited (now known as HSBC Cayman Limited), alleging breach of contract and breach of fiduciary duty and claiming damages and equitable compensation. The trial concluded in February 2017 and, in August 2017, the court dismissed all claims against the defendants. In September 2017, Primeo appealed to the Court of Appeal of the Cayman Islands and, in June 2019, the Court of Appeal of the Cayman Islands dismissed Primeo’s claims against HSSL and HSBC Cayman Limited. In August 2019, Primeo filed a notice of appeal to the UK Privy Council and, in September 2019, HSSL and HSBC Cayman Limited indicated that they will seek to dismiss the appeal. Luxembourg litigation: In April 2009, Herald Fund SPC (‘Herald’) (in liquidation since July 2013) brought an action against HSSL before the Luxembourg District Court, seeking restitution of cash and securities that Herald purportedly lost because of Madoff Securities’ fraud, or money damages. The Luxembourg District Court dismissed Herald’s securities restitution claim, but reserved Herald’s cash restitution claim and its claim for money damages. Herald has appealed this judgment to the Luxembourg Court of Appeal, where the matter is pending. In late 2018, Herald brought additional claims against HSSL and HSBC Bank plc (‘HSBC Bank’) before the Luxembourg District Court, seeking further restitution and damages. In October 2009, Alpha Prime Fund Limited (‘Alpha Prime’) brought an action against HSSL before the Luxembourg District Court, seeking the restitution of securities, or the cash equivalent, or money damages. In December 2018, Alpha Prime brought additional claims before the Luxembourg District Court seeking damages against various HSBC companies. A preliminary hearing is scheduled for June 2020. In December 2014, Senator Fund SPC (‘Senator’) brought an action against HSSL before the Luxembourg District Court, seeking restitution of securities, or the cash equivalent, or money damages. In April 2015, Senator commenced a separate action against the Luxembourg branch of HSBC Bank asserting identical claims before the Luxembourg District Court . In December 2018, Senator brought additional claims against HSSL and HSBC Bank Luxembourg branch before the Luxembourg District Court, seeking restitution of Senator’s securities or money damages. These matters are currently pending before the Luxembourg District Court. Ireland litigation: In November 2013, Defender Limited brought an action against HSBC Institutional Trust Services (Ireland) Limited (‘HTIE’) and others, based on allegations of breach of contract and claiming damages and indemnification for fund losses. The trial commenced in October 2018. In December 2018, the Irish High Court issued a judgment in HTIE’s favour on a preliminary issue, holding that Defender Limited had no effective claim against HTIE. This judgment concluded the trial without further issues in dispute being heard. In February 2019, Defender Limited appealed to the Irish Supreme Court, and a hearing is scheduled for March 2020. There are many factors that may affect the range of possible outcomes, and the resulting financial impact, of the various Madoff-related proceedings described above, including but not limited to the multiple jurisdictions in which the proceedings have been brought. Based upon the information currently available, management’s estimate of the possible aggregate damages that might arise as a result of all claims in the various Madoff-related proceedings is up to or exceeding $500m , excluding costs and interest. Due to uncertainties and limitations of this estimate, the ultimate damages could differ significantly from this amount. Anti-money laundering and sanctions-related matters In December 2012, among other agreements, HSBC Holdings plc (‘HSBC Holdings’) agreed to an undertaking with the UK Financial Services Authority, which was replaced by a Direction issued by the UK Financial Conduct Authority (‘FCA’) in 2013, and consented to a cease-and-desist order with the US Federal Reserve Board (‘FRB’), both of which contained certain forward-looking anti-money laundering (‘AML’) and sanctions-related obligations. HSBC also agreed to retain an independent compliance monitor (who is, for FCA purposes, a ‘Skilled Person’ under section 166 of the Financial Services and Markets Act and, for FRB purposes, an ‘Independent Consultant’) to produce periodic assessments of the Group’s AML and sanctions compliance programme (the ‘Skilled Person/Independent Consultant’). In December 2012, HSBC Holdings also entered into an agreement with the Office of Foreign Assets Control (‘OFAC’) regarding historical transactions involving parties subject to OFAC sanctions. Reflective of HSBC’s significant progress in strengthening its financial crime risk management capabilities, HSBC’s engagement with the current Skilled Person will be terminated and a new Skilled Person with a narrower mandate will be appointed to assess the remaining areas that require further work in order for HSBC to transition fully to business-as-usual financial crime risk management. The Independent Consultant will continue to carry out an annual OFAC compliance review at the FRB’s discretion. The role of the Skilled Person/Independent Consultant is discussed on page 181 . Through the Skilled Person/Independent Consultant’s prior reviews, as well as internal reviews conducted by HSBC, certain potential AML and sanctions compliance issues have been identified that HSBC is reviewing further with the FRB, FCA and/or OFAC. The Financial Crimes Enforcement Network of the US Treasury Department, as well as the Civil Division of the US Attorney’s Office for the Southern District of New York, are investigating the collection and transmittal of third-party originator information in certain payments instructed over HSBC’s proprietary payment systems. The FCA is also conducting an investigation into HSBC Bank’s and HSBC UK’s compliance with UK money laundering regulations and financial crime systems and controls requirements. HSBC is cooperating with all of these investigations. In May 2014, a shareholder derivative action was filed by a shareholder of HSBC Holdings purportedly on behalf of HSBC Holdings, HSBC Bank USA N.A. (‘HSBC Bank USA’), HSBC North America Holdings Inc. and HSBC USA Inc. (the ‘Nominal Corporate Defendants’) in New York state court against certain current and former directors and officers of the Nominal Corporate Defendants (the ‘Individual Defendants’). The complaint alleges that the Individual Defendants breached their fiduciary duties to the Nominal Corporate Defendants and caused a waste of corporate assets by allegedly permitting and/or causing the conduct underlying the five-year deferred prosecution agreement with the US Department of Justice (‘DoJ’), entered into in December 2012. In November 2015, the New York state court granted the Nominal Corporate Defendants’ motion to dismiss. In November 2018, the appellate court reversed the New York state court’s decision and reinstated the action; furthermore, in March 2019, the appellate court denied the Nominal Corporate Defendants’ motion for reargument or for leave to appeal to the New York Court of Appeals. In February 2019, the Nominal Corporate Defendants and most of the Individual Defendants filed a further motion to dismiss in New York state court, where the matter is pending. In July 2014, a claim was filed in the Ontario Superior Court of Justice against HSBC Holdings and a former employee purportedly on behalf of a class of persons who purchased HSBC common shares and American Depositary Shares between July 2006 and July 2012. The complaint, which seeks monetary damages of up to CA $20 bn, alleges that the defendants made statutory and common law misrepresentations in documents released by HSBC Holdings and its wholly-owned indirect subsidiary, HSBC Bank Canada, relating to HSBC’s compliance with the Bank Secrecy Act, AML, sanctions and other laws. In September 2017, the Ontario Superior Court of Justice dismissed the statutory claims against HSBC Holdings and the former employee for lack of jurisdiction, and stayed the common law misrepresentation claim against HSBC Holdings on the basis of forum non conveniens . In October 2017, the plaintiff appealed to the Court of Appeal for Ontario and, in July 2018, that appeal was dismissed. In October 2018, the plaintiff applied for leave to appeal to the Supreme Court of Canada and, in March 2019, the plaintiff’s application for leave to appeal was denied. In October 2019, the Ontario Superior Court of Justice dismissed the remaining common law misrepresentation claim against HSBC Holdings. Since November 2014, a number of lawsuits have been filed in federal courts in the US against various HSBC companies and others on behalf of plaintiffs who are, or are related to, victims of terrorist attacks in the Middle East or of cartel violence in Mexico. In each case, it is alleged that the defendants aided and abetted the unlawful conduct of various sanctioned parties in violation of the US Anti-Terrorism Act. In one case, in August 2019, the Second Circuit Court of Appeals affirmed the dismissal of the plaintiffs’ claims, and this matter is now concluded. Currently, 10 actions remain pending in federal courts in New York or the District of Columbia. Motions to dismiss were filed in three of those cases and the courts granted HSBC’s motions in all three cases in March, September and October 2019. The plaintiffs are seeking to amend their complaint in one of the cases and have appealed the decisions in the two other cases. HSBC has filed motions to dismiss in three further cases which remain pending . The four remaining actions are at a very early stage. In July 2018, a claim was issued against HSBC Holdings in the High Court of England and Wales alleging that HSBC Holdings made untrue and/or misleading statements and/or omissions in public statements between 2007 and 2012 regarding compliance by HSBC with AML, anti-terrorist financing and sanctions laws, regulations and requirements, and the regulatory compliance of HSBC more generally. In August 2019, HSBC Holdings concluded a settlement with the claimants to resolve this claim. Based on the facts currently known, it is not practicable at this time for HSBC to predict the resolution of these matters, including the timing or any possible impact on HSBC, which could be significant. Tax-related investigations Various tax administration, regulatory and law enforcement authorities around the world have been conducting investigations and reviews of HSBC Private Bank (Suisse) SA (‘HSBC Swiss Private Bank’) and other HSBC companies in connection with allegations of tax evasion or tax fraud, money laundering and unlawful cross-border banking solicitation. In October 2019, the Belgian court approved a settlement between HSBC Swiss Private Bank and Belgian authorities in which HSBC Swiss Private Bank agreed to pay €295m to resolve the Belgian authorities’ investigation into historical tax-related offences. The Belgian court also dismissed proceedings against HSBC Holdings and HSBC Private Bank Holdings (Suisse) SA. In December 2019, HSBC Swiss Private Bank entered into a three -year deferred prosecution agreement with the DoJ (the ‘Swiss Tax DPA’). This concluded the DoJ’s investigation into HSBC Swiss Private Bank’s legacy business with US clients. Under the terms of the Swiss Tax DPA, HSBC Swiss Private Bank agreed to pay $192m to the DoJ and the US Internal Revenue Service and has a number of ongoing cooperation obligations. HSBC continues to cooperate with tax-related investigations by other tax administration, regulatory or law enforcement authorities. Based on the facts currently known, it is not practicable at this time for HSBC to predict the resolution of these ongoing matters, including the timing or any possible impact on HSBC. London interbank offered rates, European interbank offered rates and other benchmark interest rate investigations and litigation Euro interest rate derivatives: In December 2016, the European Commission (the ‘EC’) issued a decision finding that HSBC, among other banks, engaged in anti-competitive practices in connection with the pricing of euro interest rate derivatives in early 2007. The EC imposed a fine on HSBC based on a one -month infringement. HSBC appealed the decision and, in September 2019, the General Court of the European Union (the ‘General Court’) issued a decision largely upholding the EC’s findings on liability but annulling the fine. HSBC and the EC have both appealed the General Court’s decision to the European Court of Justice . US dollar Libor: Beginning in 2011, HSBC and other panel banks have been named as defendants in a number of private lawsuits filed in the US with respect to the setting of US dollar Libor. The complaints assert claims under various US laws, including US antitrust and racketeering laws, the US Commodity Exchange Act (‘US CEA’) and state law. The lawsuits include individual and putative class actions, most of which have been transferred and/or consolidated for pre-trial purposes before the New York District Court. In 2017 and 2018, HSBC reached agreements with plaintiffs to resolve putative class actions brought on behalf of the following five groups of plaintiffs: persons who purchased US dollar Libor-indexed bonds; persons who purchased US dollar Libor-indexed exchange-traded instruments; US-based lending institutions that made or purchased US dollar Libor-indexed loans (the ‘Lender class’); persons who purchased US dollar Libor-indexed interest rate swaps and other instruments directly from the defendant banks and their affiliates (the ‘OTC class’); and persons who purchased US dollar Libor-indexed interest rate swaps and other instruments from certain financial institutions that are not the defendant banks or their affiliates. During 2018, the New York District Court granted final approval of the settlements with the OTC and Lender classes. The remaining settlements are subject to final court approval. Additionally, a number of other US dollar Libor-related actions remain pending against HSBC in the New York District Court and the Second Circuit Court of Appeals. Intercontinental Exchange (‘ICE’) Libor: Between January and March 2019, HSBC and other panel banks were named as defendants in three putative class actions filed in the New York District Court on behalf of persons and entities who purchased instruments paying interest indexed to US dollar ICE Libor from a panel bank. The complaints allege, among other things, misconduct related to the suppression of this benchmark rate in violation of US antitrust and state law. In July 2019, the three putative class actions were consolidated, and the plaintiffs filed a consolidated amended complaint. In August 2019, the defendants filed a motion to dismiss the complaint , which remains pending. Singapore interbank offered rate (‘Sibor’), Singapore swap offer rate (‘SOR’) and Australia bank bill swap rate (‘BBSW’): In July and August 2016, HSBC and other panel banks were named as defendants in two putative class actions filed in the New York District Court on behalf of persons who transacted in products related to the Sibor, SOR and BBSW benchmark rates. The complaints allege, among other things, misconduct related to these benchmark rates in violation of US antitrust, commodities and racketeering laws, and state law. In the Sibor/SOR litigation, following a decision on the defendants’ motion to dismiss in October 2018, the claims against a number of HSBC entities were dismissed, and the Hongkong and Shanghai Banking Corporation Limited (‘HBAP’) remained as the only HSBC defendant in this action. In October 2018, HBAP filed a motion for reconsideration of the decision based on the issue of personal jurisdiction; this motion was denied in April 2019. Also in October 2018, the plaintiffs filed a third amended complaint naming only the Sibor panel members, including HBAP, as defendants; the court dismissed the third amended complaint in its entirety in July 2019 against all defendants. In August 2019, the plaintiffs filed an appeal to the Second Circuit Court of Appeals, which remains pending . In the BBSW litigation, in November 2018, the court dismissed all foreign defendants, including all the HSBC entities, on personal jurisdiction grounds. In April 2019, the plaintiffs filed an amended complaint, which the defendants moved to dismiss. In February 2020, the court again dismissed the plaintiffs’ amended complaint against all the HSBC entities. There are many factors that may affect the range of outcomes, and the resulting financial impact, of these matters, which could be significant. Foreign exchange-related investigations and litigation Various regulators and competition authorities around the world, including in the EU, Brazil and South Africa, are conducting investigations and reviews into trading by HSBC and others on the foreign exchange markets. HSBC is cooperating with these investigations and reviews. In January 2018, HSBC Holdings entered into a three -year deferred prosecution agreement with the Criminal Division of the DoJ (the ‘FX DPA’), regarding fraudulent conduct in connection with two particular transactions in 2010 and 2011. This concluded the DoJ’s investigation into HSBC’s historical foreign exchange activities. Under the terms of the FX DPA, HSBC has a number of ongoing obligations, including implementing enhancements to its internal controls and procedures in its Global Markets business, which will be the subject of annual reports to the DoJ. In addition, HSBC agreed to pay a financial penalty and restitution. In December 2016, Brazil’s Administrative Council of Economic Defense initiated an investigation into the onshore foreign exchange market and identified a number of banks, including HSBC, as subjects of its investigation. In February 2017, the Competition Commission of South Africa (the ‘Competition Commission’) referred a complaint for proceedings before the South African Competition Tribunal (the ‘Tribunal’) against 18 financial institutions, including HSBC Bank, for alleged anti-competitive behaviour in the South African foreign exchange market. In April 2017, HSBC Bank filed an exception to the complaint based on a lack of jurisdiction and statute of limitations. In January 2018, the Tribunal approved the provisional referral of additional financial institutions, including HSBC Bank USA, to the proceedings. In June 2019, the Tribunal issued a decision requiring the Competition Commission to revise its complaint. Several financial institutions named in the complaint, including HSBC Bank USA, have appealed part of the decision to the Competition Appeal Court of South Africa, and the Competition Commission has cross-appealed. In October 2018, HSBC Holdings and HSBC Bank received an information request from the EC concerning potential coordination in foreign exchange options trading. This matter is at an early stage. In late 2013 and early 2014, various HSBC companies and other banks were named as defendants in various putative class actions consolidated in the New York District Court. The consolidated complaint alleged, among other things, that the defendants conspired to manipulate the WM/Reuters foreign exchange benchmark rates. In September 2015, HSBC reached an agreement with the plaintiffs to resolve the consolidated action, and the court granted final approval of the settlement in August 2018. A putative class action complaint making similar allegations on behalf of retail customers of foreign exchange products was filed in the US District Court for the Northern District of California in 2015, and was subsequently transferred to the New York District Court where it remains pending. In 2017, putative class action complaints making similar allegations on behalf of purported indirect purchasers of foreign exchange products were filed in New York and were subsequently consolidated in the New York District Court, where they remain pending. In September 2018, various HSBC companies and other banks were named as defendants in two motions for certification of class actions filed in Israel alleging foreign exchange-related misconduct. In July 2019, the Tel Aviv Court allowed the plaintiffs to consolidate their claims and , in September 2019, the plaintiffs filed a motion for certification of the consolidated class action. In November and December 2018, complaints alleging foreign exchange-related misconduct were filed in the New York District Court and the High Court of England and Wales against HSBC and other defendants by certain plaintiffs that opted out of the US class action settlement. These matters are at an early stage. It is possible that additional civil actions will be initiated against HSBC in relation to its historical foreign exchange activities. There are many factors that may affect the range of outcomes, and the resulting financial impact, of these matters, which could be significant. Precious metals fix-related litigation Gold: Beginning in March 2014, numerous putative class actions were filed in the New York District Court and the US District Courts for the District of New Jersey and the Northern District of California, naming HSBC and other members of The London Gold Market Fixing Limited as defendants. The complaints allege that, from January 2004 to June 2013, the defendants conspired to manipulate the price of gold and gold derivatives for their collective benefit in violation of US antitrust laws, the US CEA and New York state law. The actions were consolidated in the New York District Court. The defendants’ motion to dismiss the consolidated action was granted in part and denied in part in October 2016. In June 2017, the court granted the plaintiffs leave to file a third amended complaint, naming a new defendant. The court has denied the pre-existing defendants’ request for leave to file a joint motion to dismiss, and discovery is proceeding. Beginning in December 2015, numerous putative class actions under Canadian law were filed in the Ontario and Quebec Superior Courts of Justice against various HSBC companies and other financial institutions. The plaintiffs allege that, among other things, from January 2004 to March 2014, the defendants conspired to manipulate the price of gold and gold derivatives in violation of the Canadian Competition Act and common law. These actions are at an early stage. Silver: Beginning in July 2014, numerous putative class actions were filed in the US District Courts for the Southern and Eastern Districts of New York, naming HSBC and other members of The London Silver Market Fixing Limited as defendants. The complaints allege that, from January 2007 to December 2013, the defendants conspired to manipulate the price of silver and silver derivatives for their collective benefit in violation of US antitrust laws, the US CEA and New York state law. The actions were consolidated in the New York District Court. The defendants’ motion to dismiss the consolidated action was granted in part and denied in part in October 2016. In June 2017, the court granted the plaintiffs leave to file a third amended complaint, which names several new defendants. The court has denied the pre-existing defendants’ request for leave to file a joint motion to dismiss, and discovery is proceeding. In April 2016, two putative class actions under Canadian law were filed in the Ontario and Quebec Superior Courts of Justice against various HSBC companies and other financial institutions. The plaintiffs in both actions allege that, from January 1999 to August 2014, the defendants conspired to manipulate the price of silver and silver derivatives in violation of the Canadian Competition Act and common law. The Ontario action is at an early stage. The Quebec action has been temporarily stayed. Platinum and palladium: Between late 2014 and early 2015, numerous putative class actions were filed in the New York District Court, naming HSBC and other members of The London Platinum and Palladium Fixing Company Limited as defendants. The complaints allege that, from January 2008 to November 2014, the defendants conspired to manipulate the price of platinum group metals (‘PGM’) and PGM-based financial products for their collective benefit in violation of US antitrust laws and the US CEA. In March 2017, the defendants’ motion to dismiss the second amended consolidated complaint was granted in part and denied in part. In June 2017, the plaintiffs filed a third amended complaint. The defendants filed a joint motion to dismiss, which remains pending. Based on the facts currently known, it is not practicable at this time for HSBC to predict the resolution of these matters, including the timing or any possible impact on HSBC, which could be significant. Film finance litigation In July and November 2015, two actions were brought by individuals against HSBC Private Bank (UK) Limited (‘PBGB’) in the High Court of England and Wales seeking damages on various alleged grounds, including breach of duty to the claimants, in connection with their participation in certain Ingenious film finance schemes. These actions are ongoing. In December 2018, a separate action was brought against PBGB in the High Court of England and Wales by multiple claimants seeking damages for alleged unlawful means conspiracy and dishonest assistance in connection with lending provided by PBGB to third parties in respect of certain Ingenious film finance schemes in which the claimants participated. In June 2019, a similar claim was issued against PBGB in the High Court of England and Wales by additional claimants. These actions are ongoing. In February and October 2019, PBGB received letters before claim by two largely separate groups of investors in Eclipse film finance schemes, each of which asserted various claims against PBGB in connection with its role in facilitating the design, promotion and operation of such schemes. These matters are at an early stage. It is possible that additional actions or investigations will be initiated against PBGB as a result of its historical involvement in the provision of certain film finance-related services. Based on the facts currently known, it is not practicable to predict the resolution of these matters, including the timing or possible aggregate impact, which could be significant. Other regulatory investigations, reviews and litigation HSBC Holdings and/or certain of its affiliates are subject to a number of other investigations and reviews by various regulators and competition and law enforcement authorities, as well as litigation, in connection with various matters relating to the firm’s businesses and operations, including: • an investigation by the DoJ regarding US Treasury securities trading practices; • an investigation by the US Commodity Futures Trading Commission regarding interest rate swap transactions related to bond issuances ; • an investigation by the Swiss Competition Commission in connection with the setting of Euribor and Japanese yen Libor; • an investigation by the FCA in connection with collections and recoveries operations in the UK; • an information request from the UK Competition and Markets Authority concerning the financial services sector; • putative class actions brought in the New York District Court relating to the Mexican g |
Related party transactions
Related party transactions | 12 Months Ended |
Dec. 31, 2019 | |
Related Party [Abstract] | |
Related party transactions | 35 Related party transactions Related parties of the Group and HSBC Holdings include subsidiaries, associates, joint ventures, post-employment benefit plans for HSBC employees, Key Management Personnel (‘KMP’) as defined by IAS 24, close family members of KMP and entities that are controlled or jointly controlled by KMP or their close family members. KMP are defined as those persons having authority and responsibility for planning, directing and controlling the activities of HSBC Holdings plc. These individuals also constitute ‘senior management’ for the purposes of the Hong Kong Listing Rules. Following a review of the application of IAS 24, it was determined that the roles of Chief Legal Officer, Group Head of Internal Audit, Group Chief Human Resources Officer, Group Chief Compliance Officer, Group Company Secretary and Chief Governance Officer, Head of Wholesale Market and Credit Risk and Group Chief of Staff did not meet the criteria for KMP as provided for in the standard. Particulars of transactions with related parties are tabulated below. The disclosure of the year-end balance and the highest amounts outstanding during the year is considered to be the most meaningful information to represent the amount of the transactions and outstanding balances during the year. Key Management Personnel Details of Directors’ remuneration and interest in shares are disclosed in the ‘Directors’ remuneration report’ on pages 220 to 247 . IAS 24 ‘Related party disclosures’ requires the following additional information for key management compensation. Compensation of Key Management Personnel 2019 2018 2017 $m $m $m Short-term employee benefits 64 52 43 Other long-term employee benefits 8 6 5 Share-based payments 27 34 35 Year ended 31 Dec 99 92 83 Shareholdings, options and other securities of Key Management Personnel 2019 2018 (000s) (000s) Number of options held over HSBC Holdings ordinary shares under employee share plans 18 24 Number of HSBC Holdings ordinary shares held beneficially and non-beneficially 15,546 17,940 At 31 Dec 15,564 17,964 Transactions and balances during the year with Key Management Personnel 2019 2018 Balance at 31 Dec Highest amounts outstanding Balance Highest amounts outstanding Footnotes $m $m $m $m Key Management Personnel 1 Advances and credits 2 283 328 169 288 Guarantees 34 34 0.6 0.6 Deposits 3 268 659 300 802 1 Includes Key Management Personnel, close family members of Key Management Personnel and entities that are controlled or jointly controlled by Key Management Personnel or their close family members. 2 Advances and credits entered into by subsidiaries of HSBC Holdings plc during 2019 with Directors, disclosed pursuant to section 413 of the Companies Act 2006, totalled $3m ( 2018 : $1m ). 3 Comparatives have been re-presented to correct foreign currency translation errors impacting 2018 reported balances. Some of the transactions were connected transactions as defined by the Rules Governing The Listing of Securities on The Stock Exchange of Hong Kong Limited, but were exempt from any disclosure requirements under the provisions of those rules. The above transactions were made in the ordinary course of business and on substantially the same terms, including interest rates and security, as for comparable transactions with persons of a similar standing or, where applicable, with other employees. The transactions did not involve more than the normal risk of repayment or present other unfavourable features. Associates and joint ventures The Group provides certain banking and financial services to associates and joint ventures including loans, overdrafts, interest and non-interest bearing deposits and current accounts. Details of the interests in associates and joint ventures are given in Note 18 . Transactions and balances during the year with associates and joint ventures 2019 2018 Highest balance Balance at Highest balance Balance at $m $m $m $m Unsubordinated amounts due from joint ventures 132 123 130 115 Unsubordinated amounts due from associates 4,554 2,054 3,887 3,000 Amounts due to associates 2,517 516 2,020 273 Amounts due to joint ventures 28 28 22 22 Guarantees and commitments 647 407 790 523 The above outstanding balances arose in the ordinary course of business and on substantially the same terms, including interest rates and security, as for comparable transactions with third-party counterparties. Post-employment benefit plans At 31 December 2019 , $5.4bn ( 2018 : $ 4.4bn ) of HSBC post-employment benefit plan assets were under management by HSBC companies, earning management fees of $8m in 2019 ( 2018 : $8m ). At 31 December 2019 , HSBC’s post-employment benefit plans had placed deposits of $530m ( 2018 : $297m ) with its banking subsidiaries, earning interest payable to the schemes of $0.3m ( 2018 : nil ). The above outstanding balances arose from the ordinary course of business and on substantially the same terms, including interest rates and security, as for comparable transactions with third-party counterparties. The combined HSBC Bank (UK) Pension Scheme enters into swap transactions with HSBC to manage inflation and interest rate sensitivity of its liabilities and selected assets. At 31 December 2019 , the gross notional value of the swaps was $9.9bn ( 2018 : $10.5bn ); these swaps had a positive fair value to the scheme of $1.2bn ( 2018 : $1.0bn ); and HSBC had delivered collateral of $1.2bn ( 2018 : $1.0bn ) to the scheme in respect of these arrangements. All swaps were executed at prevailing market rates and within standard market bid/offer spreads. HSBC Holdings Details of HSBC Holdings’ subsidiaries are shown in Note 37 . Transactions and balances during the year with subsidiaries 2019 2018 Highest balance Balance at Highest balance Balance at $m $m $m $m Assets Cash and balances with HSBC undertakings 5,029 2,382 16,473 3,509 Financial assets with HSBC undertakings designated and otherwise mandatorily measured at fair value 61,964 61,964 23,513 23,513 Derivatives 3,902 2,002 1,235 707 Loans and advances to HSBC undertakings 43,436 10,218 77,311 56,144 Prepayments, accrued income and other assets 655 480 — — Investments in subsidiaries 163,258 161,473 160,231 160,231 Total related party assets at 31 Dec 278,244 238,519 278,763 244,104 Liabilities Amounts owed to HSBC undertakings 1,553 464 2,040 949 Derivatives 2,183 2,021 3,639 2,159 Subordinated liabilities 892 892 892 892 Total related party liabilities at 31 Dec 4,628 3,377 6,571 4,000 Guarantees and commitments 11,541 11,061 11,629 8,627 The above outstanding balances arose in the ordinary course of business and on substantially the same terms, including interest rates and security, as for comparable transactions with third-party counterparties. Some employees of HSBC Holdings are members of the HSBC Bank (UK) Pension Scheme, which is sponsored by a separate Group company. HSBC Holdings incurs a charge for these employees equal to the contributions paid into the scheme on their behalf. Disclosure in relation to the scheme is made in Note 5 . |
Events after the balance sheet
Events after the balance sheet date | 12 Months Ended |
Dec. 31, 2019 | |
Events After Reporting Period [Abstract] | |
Events after the balance sheet date | 36 Events after the balance sheet date A fourth interim dividend for 2019 of $0.21 per ordinary share (a distribution of approximately $4,266m ) was declared by the Directors after 31 December 2019. These accounts were approved by the Board of Directors on 18 February 2020 and authorised for issue. The Directors approved the 2020 business update after 31 December 2019, setting out a plan that aims to reallocate capital to areas that can deliver stronger returns, to reduce costs across the Group, and to simplify the business. One change as part of this plan is a change to the global businesses that form the Group’s reportable segments as described in Note 10 of the financial statements on page 294 . The existing Retail Banking and Wealth Management and Global Private Banking global businesses will be merged to create one new global business, Wealth and Personal Banking, which will become a reportable segment during 2020. The ECL at 31 December 2019 was estimated based on a range of forecast economic conditions as at that date. Since early January 2020, the coronavirus outbreak has spread across mainland China and beyond, causing disruption to business and economic activity. The impact on GDP and other key indicators will be considered when determining the severity and likelihood of downside economic scenarios that will be used to estimate ECL under IFRS 9 in 2020. |
HSBC Holdings' subsidiaries, jo
HSBC Holdings' subsidiaries, joint ventures and associates | 12 Months Ended |
Dec. 31, 2019 | |
Interests In Other Entities [Abstract] | |
HSBC Holdings' subsidiaries, joint ventures and associates | 18 Interests in associates and joint ventures Carrying amount of HSBC’s interests in associates and joint ventures 2019 2018 $m $m Interests in associates 24,384 22,244 Interests in joint ventures 1 90 163 Interests in associates and joint ventures 24,474 22,407 1 During 2019, HSBC increased its shareholding in HSBC Saudi Arabia, which is now recognised as a subsidiary. Principal associates of HSBC 2019 2018 Carrying amount Fair value 1 Carrying amount Fair value 1 $m $m $m $m Bank of Communications Co., Limited 18,982 10,054 17,754 10,991 The Saudi British Bank 4,370 5,550 3,557 5,222 1 Principal associates are listed on recognised stock exchanges. The fair values are based on the quoted market prices of the shares held (Level 1 in the fair value hierarchy). At 31 Dec 2019 Footnotes Country of incorporation and principal place of business Principal activity HSBC’s interest % Bank of Communications Co., Limited People’s Republic of China Banking services 19.03 The Saudi British Bank 1 Saudi Arabia Banking services 29.20 1 In June 2019, the merger between The Saudi British Bank (‘SABB’) and Alawwal bank (‘Alawwal’) became effective. The merger involved SABB issuing a fixed number of new shares to Alawwal’s shareholders in exchange for the transfer of Alawwal’s net assets and cancellation of its shares. HSBC’s 40.0% interest in SABB reduced to 29.2% of the combined entity, resulting in a dilution gain of $828m recognised in HSBC’s consolidated income statement. The dilution gain represents the difference between the carrying amount of HSBC’s interest in SABB that was derecognised proportionate to the percentage reduction, and HSBC’s share of the increase in the combined entity’s net assets. The combined entity continues to be an associate of HSBC. A list of all associates and joint ventures is set out in Note 37 . Bank of Communications Co., Limited The Group’s investment in Bank of Communications Co., Limited (‘BoCom’) is classified as an associate. Significant influence in BoCom was established via representation on BoCom’s Board of Directors and participation in a technical cooperation and exchange programme (‘TCEP’). Under the TCEP, a number of HSBC staff have been seconded to assist in the maintenance of BoCom’s financial and operating policies. Investments in associates are recognised using the equity method of accounting in accordance with IAS 28, whereby the investment is initially recognised at cost and adjusted thereafter for the post-acquisition change in the Group’s share of BoCom’s net assets. An impairment test is required if there is any indication of impairment. Impairment testing At 31 December 2019, the fair value of the Group’s investment in BoCom had been below the carrying amount for approximately eight years. As a result, the Group performed an impairment test on the carrying amount, which confirmed that there was no impairment at 31 December 2019 as the recoverable amount as determined by a value-in-use (‘VIU’) calculation was higher than the carrying value. At 31 Dec 2019 At 31 Dec 2018 VIU Carrying value Fair value VIU Carrying value Fair value $bn $bn $bn $bn $bn $bn BoCom 21.5 19.0 10.1 18.0 17.8 11.0 In future periods, the VIU may increase or decrease depending on the effect of changes to model inputs. The main model inputs are described below and are based on factors observed at period-end. The factors that could result in a change in the VIU and an impairment include a short-term underperformance by BoCom, a change in regulatory capital requirements or an increase in uncertainty regarding the future performance of BoCom resulting in a downgrade of the future asset growth or profitability. An increase in the discount rate as a result of an increase in the risk premium or risk-free rates could also result in a reduction of VIU and an impairment. At the point where the carrying value exceeds the VIU, impairment would be recognised. If the Group did not have significant influence in BoCom, the investment would be carried at fair value rather than the current carrying value. Basis of recoverable amount The impairment test was performed by comparing the recoverable amount of BoCom, determined by a VIU calculation, with its carrying amount. The VIU calculation uses discounted cash flow projections based on management’s best estimates of future earnings available to ordinary shareholders prepared in accordance with IAS 36. Significant management judgement is required in arriving at the best estimate. There are two main components to the VIU calculation. The first component is management’s best estimate of BoCom’s earnings, which is based on explicit forecasts over the short to medium term. This results in forecast earnings growth that is lower than recent historical actual growth and also reflects the uncertainty arising from the current economic outlook. Earnings beyond the short to medium term are then extrapolated in perpetuity using a long-term growth rate to derive a terminal value, which comprises the majority of the VIU. The second component is the capital maintenance charge (‘CMC’), which is management’s forecast of the earnings that need to be withheld in order for BoCom to meet regulatory capital requirements over the forecast period, meaning that CMC is deducted when arriving at management’s estimate of future earnings available to ordinary shareholders. The principal inputs to the CMC calculation include estimates of asset growth, the ratio of risk-weighted assets to total assets and the expected minimum regulatory capital requirements. An increase in the CMC as a result of a change to these principal inputs would reduce VIU. Additionally, management considers other factors, including qualitative factors, to ensure that the inputs to the VIU calculation remain appropriate. Key assumptions in value-in-use calculation We used a number of assumptions in our VIU calculation, in accordance with the requirements of IAS 36: • Long-term profit growth rate: 3% (2018: 3% ) for periods after 2023, which does not exceed forecast GDP growth in mainland China and is consistent with forecasts by external analysts. • Long-term asset growth rate: 3% (2018: 3% ) for periods after 2023, which is the rate that assets are expected to grow to achieve long-term profit growth of 3% . • Discount rate: 11.24% (2018: 11.82% ). This is based on a capital asset pricing model (‘CAPM’) calculation for BoCom, using market data. Management also compares the rate derived from the CAPM with discount rates from external sources. The discount rate used is within the range of 10.0% to 15.0% (2018: 10.4% to 15.0% ) indicated by external sources. • Expected credit losses as a percentage of customer advances: 0.95% (2018: ranges from 0.73% to 0.79% ) in the short to medium term and reflect increases due to the US-China trade tensions and BoCom’s actual results. For periods after 2023, the ratio is 0.76% (2018: 0.70% ). This ratio was increased to provide greater weighting to the most recent data points and analyst forecasts. • Risk-weighted assets as a percentage of total assets: 61% (2018: 62% ) for all forecast periods. This is consistent with BoCom’s actual results and slightly higher than the forecasts disclosed by external analysts. • Cost-income ratio: ranges from 37.1% to 38.8% (2018: 38.7% to 39.0% ) in the short to medium term. This is slightly above BoCom’s actual results in recent years and within the range of forecasts disclosed by external analysts. • Effective tax rate: ranges from 12.0% to 17.0% (2018: 13.8% to 22.3% ) in the short to medium term reflecting BoCom’s actual results and an expected increase towards the long-term assumption. For periods after 2023, the rate is 22.5% (2018: 22.5% ), which is slightly higher than the historical average. • Capital requirements: Capital adequacy ratio of 11.5% (2018: 11.5% ) and tier 1 capital adequacy ratio of 9.5% (2018: 9.5% ), based on the minimum regulatory requirements. The following table shows the change to each key assumption in the VIU calculation that on its own would reduce the headroom to nil: Key assumption Changes to key assumption to reduce headroom to nil • Long-term profit growth rate • Decrease by 99 basis points • Long-term asset growth rate • Increase by 80 basis points • Discount rate • Increase by 122 basis points • Expected credit losses as a percentage of customer advances • Increase by 16 basis points • Risk-weighted assets as a percentage of total assets • Increase by 624 basis points • Cost-income ratio • Increase by 373 basis points • Long-term effective tax rate • Increase by 900 basis points • Capital requirements – capital adequacy ratio • Increase by 118 basis points • Capital requirements – tier 1 capital adequacy ratio • Increase by 190 basis points The following table further illustrates the impact on VIU of reasonably possible changes to key assumptions. This reflects the sensitivity of the VIU to each key assumption on its own and it is possible that more than one favourable and/or unfavourable change may occur at the same time. The selected rates of reasonably possible changes to key assumptions are largely based on external analysts’ forecasts, which can change period to period. Sensitivity of VIU to reasonably possible changes in key assumptions Favourable change Unfavourable change Increase VIU Decrease VIU bps $bn $bn bps $bn $bn At 31 Dec 2019 Long-term profit growth rate — — 21.5 (50 ) (1.3 ) 20.2 Long-term asset growth rate (50 ) 1.4 22.9 — — 21.5 Discount rate (54 ) 1.4 22.9 56 (1.2 ) 20.3 Expected credit losses as a percentage of customer advances 2019 to 2023: 90 1.0 22.5 2019 to 2023: 108 (1.2 ) 20.3 Risk-weighted assets as a percentage of total assets (96 ) 0.4 21.9 12 — 21.5 Cost-income ratio (175 ) 1.0 22.5 95 (1.2 ) 20.3 Long-term effective tax rate (352 ) 1.0 22.5 250 (0.7 ) 20.8 Earnings in short to medium term – compound annual growth rate 1 107 0.5 22.0 (346 ) (2.4 ) 19.1 Capital requirements – capital adequacy ratio — — 21.5 337 (8.2 ) 13.3 Capital requirements – tier 1 capital adequacy ratio — — 21.5 322 (6.0 ) 15.5 At 31 Dec 2018 Long-term profit growth rate 100 2.6 20.6 (10 ) (0.2 ) 17.8 Long-term asset growth rate (10 ) 0.3 18.3 100 (2.8 ) 15.3 Discount rate (142 ) 3.2 21.3 28 (0.5 ) 17.5 Expected credit losses as a percentage of customer advances 2018 to 2022: 70 0.9 18.9 2018 to 2022: 83 (1.0 ) 17.0 Risk-weighted assets as a percentage of total assets (140 ) 0.5 18.6 80 (0.3 ) 17.8 Cost-income ratio (160 ) 1.1 19.2 200 (1.4 ) 16.7 Long-term effective tax rate (280 ) 0.7 18.7 250 (0.6 ) 17.5 Earnings in short to medium term – compound annual growth rate 1,2 204 1.1 19.1 (366 ) (1.8 ) 16.2 Capital requirements – capital adequacy ratio — — 18.0 258 (5.0 ) 13.0 Capital requirements – tier 1 capital adequacy ratio — — 18.0 243 (3.2 ) 14.8 1 Based on management’s explicit forecasts over the short to medium term. 2 Amounts at 31 December 2018 have been updated to align with the 2019 approach to describe the impact of the change in isolation. Considering the interrelationship of the changes set out in the table above, management estimates that the reasonably possible range of VIU is $18.5b n to $22.8 bn (2018: $15.5b n to $19.6b n). T he range is based on the favourable/unfavourable change in the earnings in the short- to medium-term and long-term expected credit losses as a percentage of customer advances as set out in the table above. All other long-term assumptions, the discount rate and the basis of the CMC have been kept unchanged when determining the reasonably possible range of the VIU. Selected financial information of BoCom The statutory accounting reference date of BoCom is 31 December. For the year ended 31 December 2019, HSBC included the associate’s results on the basis of the financial statements for the 12 months ended 30 September 2019, taking into account changes in the subsequent period from 1 October 2019 to 31 December 2019 that would have materially affected the results. Selected balance sheet information of BoCom At 30 Sep 2019 2018 $m $m Cash and balances at central banks 112,239 125,414 Loans and advances to banks and other financial institutions 108,026 102,980 Loans and advances to customers 730,510 686,951 Other financial assets 435,740 408,136 Other assets 40,101 42,106 Total assets 1,426,616 1,365,587 Deposits by banks and other financial institutions 290,492 304,395 Customer accounts 868,627 829,539 Other financial liabilities 131,772 94,900 Other liabilities 23,074 36,332 Total liabilities 1,313,965 1,265,166 Total equity 112,651 100,421 Reconciliation of BoCom’s total shareholders’ equity to the carrying amount in HSBC’s consolidated financial statements At 30 Sep 2019 2018 $m $m HSBC’s share of total shareholders’ equity 18,509 17,275 Goodwill and other intangible assets 473 479 Carrying amount 18,982 17,754 Selected income statement information of BoCom For the 12 months ended 30 Sep 2019 2018 $m $m Net interest income 20,558 19,295 Net fee and commission income 6,411 6,245 Change in expected credit losses and other credit impairment charges (7,479 ) (5,602 ) Depreciation and amortisation (1,934 ) (767 ) Tax expense (1,636 ) (1,554 ) Profit for the year 11,175 11,116 Other comprehensive income 315 190 Total comprehensive income 11,490 11,306 Dividends received from BoCom 613 611 Associates and joint ventures For the year ended 31 December 2019, HSBC’s share of associates’ and joint ventures’ tax on profit was $ 314m (2018: $ 306m ). This is included within ‘Share of profit in associates and joint ventures’ in the consolidated income statement. 20 Structured entities HSBC is mainly involved with both consolidated and unconsolidated structured entities through the securitisation of financial assets, conduits and investment funds, established either by HSBC or a third party. Consolidated structured entities Total assets of HSBC’s consolidated structured entities, split by entity type Conduits Securitisations HSBC Other Total $bn $bn $bn $bn $bn At 31 Dec 2019 8.6 9.6 6.8 6.7 31.7 At 31 Dec 2018 9.2 5.7 6.5 4.4 25.8 Conduits HSBC has established and manages two types of conduits: securities investment conduits (‘SICs’) and multi-seller conduits. Securities investment conduits The SICs purchase highly rated ABSs to facilitate tailored investment opportunities. • At 31 December 2019 , Solitaire, HSBC’s principal SIC, held $2.1b n of ABSs ( 2018 : $2.3b n). It is currently funded entirely by commercial paper (‘CP’) issued to HSBC. Although HSBC continues to provide a liquidity facility, Solitaire has no need to draw on it as long as HSBC purchases its issued CP, which HSBC intends to do for the foreseeable future. At 31 December 2019 , HSBC held $3.2b n of CP ( 2018 : $3.4b n). • As at 31 December 2019, Barion, Malachite and Mazarin are fully redeemed vehicles with no current trading activity. Multi-seller conduit HSBC’s multi-seller conduit was established to provide access to flexible market-based sources of finance for its clients. Currently, HSBC bears risk equal to the transaction-specific facility offered to the multi-seller conduit, amounting to $12.4b n at 31 December 2019 ( 2018 : $16.1b n). First loss protection is provided by the originator of the assets, and not by HSBC, through transaction-specific credit enhancements. A layer of secondary loss protection is provided by HSBC in the form of programme-wide enhancement facilities. Securitisations HSBC uses structured entities to securitise customer loans and advances it originates in order to diversify its sources of funding for asset origination and capital efficiency purposes. The loans and advances are transferred by HSBC to the structured entities for cash or synthetically through credit default swaps, and the structured entities issue debt securities to investors. HSBC managed funds HSBC has established a number of money market and non-money market funds. Where it is deemed to be acting as principal rather than agent in its role as investment manager, HSBC controls these funds. Other HSBC has entered into a number of transactions in the normal course of business, which include asset and structured finance transactions where it has control of the structured entity. In addition, HSBC is deemed to control a number of third-party managed funds through its involvement as a principal in the funds. Unconsolidated structured entities The term ‘unconsolidated structured entities’ refers to all structured entities not controlled by HSBC. The Group enters into transactions with unconsolidated structured entities in the normal course of business to facilitate customer transactions and for specific investment opportunities. Nature and risks associated with HSBC interests in unconsolidated structured entities Securitisations HSBC managed funds Non-HSBC managed funds Other Total Total asset values of the entities ($m) 0–500 91 236 670 70 1,067 500–2,000 12 70 642 7 731 2,000–5,000 — 28 345 — 373 5,000–25,000 — 14 260 — 274 25,000+ — 3 39 2 44 Number of entities at 31 Dec 2019 103 351 1,956 79 2,489 $bn $bn $bn $bn $bn Total assets in relation to HSBC’s interests in the unconsolidated structured entities 5.3 9.1 15.1 4.2 33.7 – trading assets — 0.2 3.5 1.3 5 – financial assets designated and otherwise mandatorily measured at fair value — 8.4 10.7 — 19.1 – loans and advances to customers 5.3 — 0.4 2.3 8 – financial investments — 0.5 0.5 — 1 – other assets — — — 0.6 0.6 Total liabilities in relation to HSBC’s interests in the unconsolidated structured entities — — — 0.3 0.3 – other liabilities — — — 0.3 0.3 Other off-balance sheet commitments 0.3 0.3 3.9 0.7 5.2 HSBC’s maximum exposure at 31 Dec 2019 5.6 9.4 19.0 4.6 38.6 Total asset values of the entities ($m) 0–500 76 243 906 79 1,304 500–2,000 10 56 570 5 641 2,000–5,000 1 17 230 — 248 5,000–25,000 — 5 90 1 96 25,000+ — 2 10 — 12 Number of entities at 31 Dec 2018 87 323 1,806 85 2,301 $bn $bn $bn $bn $bn Total assets in relation to HSBC’s interests in the unconsolidated structured entities 3.8 8.3 8.9 4.7 25.7 – trading assets — 0.1 0.3 1.3 1.7 – financial assets designated and otherwise mandatorily measured at fair value — 7.3 7.9 — 15.2 – loans and advances to customers 3.8 — 0.3 2.7 6.8 – financial investments — 0.9 0.4 0.3 1.6 – other assets — — — 0.4 0.4 Total liabilities in relation to HSBC’s interests in the unconsolidated structured entities — — — 0.2 0.2 – other liabilities — — — 0.2 0.2 Other off-balance sheet commitments 0.8 0.1 3.3 1.0 5.2 HSBC’s maximum exposure at 31 Dec 2018 4.6 8.4 12.2 5.5 30.7 The maximum exposure to loss from HSBC’s interests in unconsolidated structured entities represents the maximum loss it could incur as a result of its involvement with these entities regardless of the probability of the loss being incurred. • For commitments, guarantees and written credit default swaps, the maximum exposure to loss is the notional amount of potential future losses. • For retained and purchased investments in and loans to unconsolidated structured entities, the maximum exposure to loss is the carrying value of these interests at the balance sheet reporting date. The maximum exposure to loss is stated gross of the effects of hedging and collateral arrangements that HSBC has entered into in order to mitigate the Group's exposure to loss. Securitisations HSBC has interests in unconsolidated securitisation vehicles through holding notes issued by these entities. In addition, HSBC has investments in ABSs issued by third-party structured entities. HSBC managed funds HSBC establishes and manages money market funds and non-money market investment funds to provide customers with investment opportunities. Further information on funds under management is provided on page 72 . HSBC, as fund manager, may be entitled to receive management and performance fees based on the assets under management. HSBC may also retain units in these funds. Non-HSBC managed funds HSBC purchases and holds units of third-party managed funds in order to facilitate business and meet customer needs. Other HSBC has established structured entities in the normal course of business, such as structured credit transactions for customers, to provide finance to public and private sector infrastructure projects, and for asset and structured finance transactions. In addition to the interests disclosed above, HSBC enters into derivative contracts, reverse repos and stock borrowing transactions with structured entities. These interests arise in the normal course of business for the facilitation of third-party transactions and risk management solutions. HSBC sponsored structured entities The amount of assets transferred to and income received from such sponsored structured entities during 2019 and 2018 were not significant. 37 HSBC Holdings’ subsidiaries, joint ventures and associates In accordance with section 409 of the Companies Act 2006 a list of HSBC Holdings plc subsidiaries, joint ventures and associates, the registered office addresses and the effective percentages of equity owned at 31 December 2019 are disclosed below. Unless otherwise stated, the share capital comprises ordinary or common shares that are held by Group subsidiaries. The ownership percentage is provided for each undertaking. The undertakings below are consolidated by HSBC unless otherwise indicated. Subsidiaries Subsidiaries % of share class held by immediate parent company (or by the Group where this varies) Footnotes Almacenadora Banpacifico S.A. (In Liquidation) 99.99 15 Assetfinance December (F) Limited 100.00 16 Assetfinance December (H) Limited 100.00 17 Assetfinance December (M) Limited (In Liquidation) 100.00 32 Assetfinance December (P) Limited 100.00 17 Assetfinance December (R) Limited 100.00 17 Assetfinance June (A) Limited 100.00 17 Assetfinance June (D) Limited 100.00 16 Assetfinance Limited 100.00 17 Assetfinance March (B) Limited 100.00 18 Assetfinance March (D) Limited 100.00 16 Assetfinance March (F) Limited 100.00 17 Assetfinance September (F) Limited 100.00 17 Assetfinance September (G) Limited 100.00 16 B&Q Financial Services Limited 100.00 19 Banco Nominees (Guernsey) Limited 100.00 20 Banco Nominees 2 (Guernsey) Limited 100.00 20 Banco Nominees Limited 100.00 21 Beau Soleil Limited Partnership n/a 0, 22 Beijing Miyun HSBC Rural Bank Company Limited 100.00 12, 23 Billingsgate Nominees Limited 100.00 17 Canada Crescent Nominees (UK) Limited 100.00 17 Canada Square Nominees (UK) Limited 100.00 17 Capco/Cove, Inc. 100.00 24 Card-Flo #1, Inc. 100.00 25 Card-Flo #3, Inc. 100.00 26 CC&H Holdings LLC n/a 0, 27 CCF & Partners Asset Management Limited 100.00 (99.99 ) 17 CCF Holding (LIBAN) S.A.L. (In Liquidation) 74.99 28 Charterhouse Administrators ( D.T.) Limited 100.00 (99.99 ) 17 Charterhouse Management Services Limited 100.00 (99.99 ) 17 Charterhouse Pensions Limited 100.00 17 Chongqing Dazu HSBC Rural Bank Company Limited 100.00 12, 29 Chongqing Fengdu HSBC Rural Bank Company Limited 100.00 12, 30 Chongqing Rongchang HSBC Rural Bank Company Limited 100.00 12, 31 CL Residential Limited (In Liquidation) 100.00 32 COIF Nominees Limited n/a 0, 17 Cordico Management AG (In Liquidation) 100.00 33 Dalian Pulandian HSBC Rural Bank Company Limited 100.00 12, 34 Decision One Mortgage Company, LLC n/a 0, 35 Dem 9 100.00 (99.99 ) 4, 36 Dempar 1 100.00 (99.99 ) 37 Desarrollo Turistico, S.A. de C.V. (In Liquidation) 100.00 (99.79 ) 15 Electronic Data Process México, S.A. de C.V. 100.00 15 Elysées Immo Invest 100.00 (99.99 ) 38 Equator Holdings Limited (In Liquidation) 100.00 32 Eton Corporate Services Limited 100.00 20 Far East Leasing SA (In Dissolution) 100.00 39 Finanpar 7 100.00 (99.99 ) 38 Flandres Contentieux S.A. 100.00 (99.99 ) 40 Foncière Elysées 100.00 (99.99 ) 37 Fujian Yongan HSBC Rural Bank Company Limited 100.00 12, 41 Fulcher Enterprises Company Limited 100.00 (62.14 ) 42 Fundacion HSBC, A.C. 100.00 (99.99 ) 11, 15 Giller Ltd. 100.00 24 GPIF Co-Investment, LLC n/a 0, 26 Subsidiaries % of share class held by immediate parent company (or by the Group where this varies) Footnotes Griffin International Limited 100.00 17 Grundstuecksgesellschaft Trinkausstrasse Kommanditgesellschaft n/a 0, 43 Grupo Financiero HSBC, S. A. de C. V. 99.99 15 Guangdong Enping HSBC Rural Bank Company Limited 100.00 12, 44 Hang Seng (Nominee) Limited 100.00 (62.14 ) 42 Hang Seng Bank (China) Limited 100.00 (62.14 ) 45 Hang Seng Bank (Trustee) Limited 100.00 (62.14 ) 42 Hang Seng Bank Limited 62.14 42 Hang Seng Bullion Company Limited 100.00 (62.14 ) 42 Hang Seng Credit Limited 100.00 (62.14 ) 42 Hang Seng Data Services Limited 100.00 (62.14 ) 42 Hang Seng Finance Limited 100.00 (62.14 ) 42 Hang Seng Financial Information Limited 100.00 (62.14 ) 42 Hang Seng Indexes Company Limited 100.00 (62.14 ) 42 Hang Seng Insurance Company Limited 100.00 (62.14 ) 42 Hang Seng Investment Management Limited 100.00 (62.14 ) 42 Hang Seng Investment Services Limited 100.00 (62.14 ) 42 Hang Seng Life Limited 100.00 (62.14 ) 42 Hang Seng Real Estate Management Limited 100.00 (62.14 ) 42 Hang Seng Securities Limited 100.00 (62.14 ) 42 Hang Seng Security Management Limited 100.00 (62.14 ) 42 Haseba Investment Company Limited 100.00 (62.14 ) 42 HFC Bank Limited (In Liquidation) 100.00 32 High Time Investments Limited 100.00 (62.14 ) 42 Honey Green Enterprises Ltd. 100.00 46 Household International Europe Limited (In Liquidation) 100.00 32 Household Pooling Corporation 100.00 47 HRMG Nominees Limited 100.00 20 HSBC (BGF) Investments Limited 100.00 17 HSBC (General Partner) Limited 100.00 2, 48 HSBC (Guernsey) GP PCC Limited 100.00 20 HSBC (Kuala Lumpur) Nominees Sdn Bhd 100.00 49 HSBC (Malaysia) Trustee Berhad 100.00 50 HSBC (Singapore) Nominees Pte Ltd 100.00 51 HSBC Agency (India) Private Limited 100.00 52 HSBC Alternative Investments Limited 100.00 17 HSBC Amanah Malaysia Berhad 100.00 49 HSBC Americas Corporation (Delaware) 100.00 26 HSBC Argentina Holdings S.A. 100.00 53 HSBC Asia Holdings B.V. 100.00 17 HSBC Asia Holdings Limited 100.00 2, 54 HSBC Asia Pacific Holdings (UK) Limited 100.00 17 HSBC Asset Finance (UK) Limited 100.00 17 HSBC Asset Finance Holdings Limited (In Liquidation) 100.00 32 HSBC Asset Finance M.O.G. Holdings (UK) Limited 100.00 17 HSBC Asset Management (India) Private Limited 100.00 55 HSBC Assurances Vie (France) 100.00 (99.99 ) 40 HSBC Australia Holdings Pty Limited 100.00 56 HSBC Bank (Chile) 100.00 57 HSBC Bank (China) Company Limited 100.00 12, 58 HSBC Bank (General Partner) Limited 100.00 48 HSBC Bank (Mauritius) Limited 100.00 59 HSBC Bank (RR) (Limited Liability Company) n/a 0, 13, 60 HSBC Bank (Singapore) Limited 100.00 51 HSBC Bank (Taiwan) Limited 100.00 61 HSBC Bank (Uruguay) S.A. 100.00 62 HSBC Bank (Vietnam) Ltd. 100.00 63 HSBC Bank A.S. 100.00 (99.99 ) 64 Subsidiaries % of share class held by immediate parent company (or by the Group where this varies) Footnotes HSBC Bank Argentina S.A. 99.00 53 HSBC Bank Armenia cjsc 70.00 65 HSBC Bank Australia Limited 100.00 56 HSBC Bank Bermuda Limited 100.00 21 HSBC Bank Canada 100.00 66 HSBC Bank Capital Funding (Sterling 1) LP n/a 0, 48 HSBC Bank Capital Funding (Sterling 2) LP n/a 0, 48 HSBC Bank Egypt S.A.E 94.54 67 HSBC Bank Malaysia Berhad 100.00 49 HSBC Bank Malta p.l.c. 70.03 68 HSBC Bank Middle East Limited 100.00 5, 69 HSBC Bank Middle East Limited Representative Office Morocco SARL (In Liquidation) 100.00 70 HSBC Bank Oman S.A.O.G. 51.00 71 HSBC Bank Pension Trust (UK) Limited 100.00 17 HSBC Bank plc 100.00 17 HSBC Bank USA, National Association 100.00 72 HSBC Branch Nominee (UK) Limited 100.00 16 HSBC Brasil Holding S.A. 100.00 (99.99 ) 73 HSBC Brasil S.A. Banco de Investimento 100.00 (99.99 ) 73 HSBC Broking Forex (Asia) Limited 100.00 54 HSBC Broking Futures (Asia) Limited 100.00 54 HSBC Broking Futures (Hong Kong) Limited 100.00 54 HSBC Broking Securities (Asia) Limited 100.00 54 HSBC Broking Securities (Hong Kong) Limited 100.00 54 HSBC Broking Services (Asia) Limited 100.00 54 HSBC Canadian Covered Bond (Legislative) GP Inc. 100.00 74 HSBC Canadian Covered Bond (Legislative) Guarantor Limited Partnership n/a 0, 74 HSBC Capital (USA), Inc. 100.00 26 HSBC Capital Funding (Dollar 1) L.P. n/a 0, 48 HSBC Capital Limited 100.00 54 HSBC Card Services Inc. 100.00 26 HSBC Casa de Bolsa, S.A. de C.V., Grupo Financiero HSBC 100.00 (99.99 ) 15 HSBC Cayman Limited 100.00 75 HSBC Cayman Services Limited 100.00 76 HSBC City Funding Holdings 100.00 17 HSBC Client Holdings Nominee (UK) Limited 100.00 17 HSBC Client Nominee (Jersey) Limited 100.00 77 HSBC Client Share Offer Nominee (UK) Limited (In Liquidation) 100.00 32 HSBC Columbia Funding, LLC n/a 0, 26 HSBC Corporate Advisory (Malaysia) Sdn Bhd 100.00 49 HSBC Corporate Finance (Hong Kong) Limited 100.00 54 HSBC Corporate Trustee Company (UK) Limited 100.00 17 HSBC Custody Nominees (Australia) Limited 100.00 56 HSBC Custody Services (Guernsey) Limited 100.00 (99.99 ) 20 HSBC Daisy Investments (Mauritius) Limited 100.00 78 HSBC Diversified Loan Fund General Partner Sarl n/a 0, 79 HSBC Electronic Data Processing (Guangdong) Limited 100.00 12, 80 HSBC Electronic Data Processing (Malaysia) Sdn Bhd 100.00 81 HSBC Electronic Data Processing (Philippines), Inc. 99.00 82 HSBC Electronic Data Processing India Private Limited 100.00 (99.99 ) 83 HSBC Electronic Data Processing Lanka (Private) Limited 100.00 (99.99 ) 84 HSBC Electronic Data Service Delivery (Egypt) S.A.E. 100.00 (99.99 ) 85 HSBC Enterprise Investment Company (UK) Limited (In Liquidation) 100.00 32 HSBC Epargne Entreprise (France) 100.00 (99.99 ) 40 Subsidiaries % of share class held by immediate parent company (or by the Group where this varies) Footnotes HSBC Equator (UK) Limited (In Liquidation) 100.00 32 HSBC Equipment Finance (UK) Limited 100.00 16 HSBC Equity (UK) Limited 100.00 17 HSBC Europe B.V. 100.00 (99.99 ) 17 HSBC Executor & Trustee Company (UK) Limited 100.00 16 HSBC Factoring (France) 100.00 (99.99 ) 37 HSBC Finance (Netherlands) 100.00 2, 17 HSBC Finance Corporation 100.00 26 HSBC Finance Limited 100.00 17 HSBC Finance Mortgages Inc. 100.00 86 HSBC Finance Transformation (UK) Limited 100.00 17 HSBC Financial Services (Lebanon) s.a.l. 99.60 87 HSBC Financial Services (Middle East) Limited 100.00 88 HSBC Financial Services (Uruguay) S.A. (In Liquidation) 100.00 89 HSBC France 99.00 37 HSBC Fund Services (Korea) Limited 92.96 90 HSBC Germany Holdings GmbH 100.00 43 HSBC Global Asset Management (Bermuda) Limited 100.00 21 HSBC Global Asset Management (Canada) Limited 100.00 66 HSBC Global Asset Management (Deutschland) GmbH 100.00 (80.67 ) 43 HSBC Global Asset Management (France) 100.00 (99.99 ) 91 HSBC Global Asset Management (Hong Kong) Limited 100.00 22 HSBC Global Asset Management (International) Limited (In Liquidation) 100.00 92 HSBC Global Asset Management (Japan) K. K. 100.00 93 HSBC Global Asset Management (Malta) Limited 100.00 (70.00 ) 94 HSBC Global Asset Management (México), S.A. de C.V., Sociedad Operadora de Fondos de Inversión, Grupo Financiero HSBC 100.00 (99.99 ) 15 HSBC Global Asset Management (Oesterreich) GmbH 100.00 (80.67 ) 6, 95 HSBC Global Asset Management (Singapore) Limited 100.00 51 HSBC Global Asset Management (Switzerland) AG 100.00 (90.33 ) 4, 96 HSBC Global Asset Management (Taiwan) Limited 100.00 97 HSBC Global Asset Management (UK) Limited 100.00 17 HSBC Global Asset Management (USA) Inc. 100.00 98 HSBC Global Asset Management Argentina S.A. Sociedad Gerente de Fondos Comunes de Inversión 100.00 (99.99 ) 99 HSBC Global Asset Management Holdings (Bahamas) Limited 100.00 100 HSBC Global Asset Management Limited 100.00 2, 17 HSBC Global Custody Nominee (UK) Limited 100.00 17 HSBC Global Custody Proprietary Nominee (UK) Limited 100.00 1, 17 HSBC Global Services (Canada) Limited 100.00 101 HSBC Global Services (China) Holdings Limited 100.00 17 HSBC Global Services (Hong Kong) Limited 100.00 54 HSBC Global Services (UK) Limited 100.00 17 HSBC Global Services Limited 100.00 2, 17 HSBC Global Shared Services (India) Private Limited (In Liquidation) 100.00 1, 52 HSBC Group Management Services Limited 100.00 17 HSBC Group Nominees UK Limited 100.00 2, 17 HSBC Holdings B.V. 100.00 17 HSBC IM Pension Trust Limited 100.00 17 HSBC Infrastructure Limited 100.00 17 HSBC INKA Investment-AG TGV 100.00 (80.67 ) 14, 102 HSBC Inmobiliaria (Mexico), S.A. de C.V. 100.00 (99.99 ) 15 HSBC Institutional Trust Services (Asia) Limited 100.00 54 Subsidiaries % of share class held by immediate parent company (or by the Group where this varies) Footnotes HSBC Institutional Trust Services (Bermuda) Limited 100.00 21 HSBC Institutional Trust Services (Mauritius) Limited 100.00 103 |
Report Of The Directors Financi
Report Of The Directors Financial Review Risk Report | 12 Months Ended |
Dec. 31, 2019 | |
Report Of The Directors Financial Review Risk Report [Abstract] | |
Disclosure of audited information included in report of the directors risk report | Concentration of exposure (Audited) Concentrations of credit risk arise when a number of counterparties or exposures have comparable economic characteristics, or such counterparties are engaged in similar activities or operate in the same geographical areas or industry sectors so that their collective ability to meet contractual obligations is uniformly affected by changes in economic, political or other conditions. We use a number of controls and measures to minimise undue concentration of exposure in our portfolios across industries, countries and global businesses. These include portfolio and counterparty limits, approval and review controls, and stress testing. Credit quality of financial instruments (Audited) Our risk rating system facilitates the internal ratings-based approach under the Basel framework adopted by the Group to support the calculation of our minimum credit regulatory capital requirement. The five credit quality classifications each encompass a range of granular internal credit rating grades assigned to wholesale and retail lending businesses, and the external ratings attributed by external agencies to debt securities. For debt securities and certain other financial instruments, external ratings have been aligned to the five quality classifications based upon the mapping of related customer risk rating (‘CRR’) to external credit rating. Credit risk sub-function (Audited) Credit approval authorities are delegated by the Board to the Group Chief Executive together with the authority to sub-delegate them. The Credit Risk sub-function in Global Risk is responsible for the key policies and processes for managing credit risk, which include formulating Group credit policies and risk rating frameworks, guiding the Group’s appetite for credit risk exposures, undertaking independent reviews and objective assessment of credit risk, and monitoring performance and management of portfolios. The principal objectives of our credit risk management are: • to maintain across HSBC a strong culture of responsible lending, and robust risk policies and control frameworks; • to both partner and challenge our businesses in defining, implementing and continually re-evaluating our risk appetite under actual and scenario conditions; and • to ensure there is independent, expert scrutiny of credit risks, their costs and their mitigation. Renegotiated loans and recognition of expected credit losses (Audited) For retail lending, unsecured renegotiated loans are generally segmented from other parts of the loan portfolio. Renegotiated expected credit loss assessments reflect the higher rates of losses typically encountered with renegotiated loans. For wholesale lending, renegotiated loans are typically assessed individually. Credit risk ratings are intrinsic to the impairment assessments. The individual impairment assessment takes into account the higher risk of the future non-payment inherent in renegotiated loans. Impairment assessment (Audited) For details of our impairment policies on loans and advances and financial investments, see Note 1.2(i) on the financial statements. Write-off of loans and advances (Audited) For details of our policy on the write-off of loans and advances, see Note 1.2(i) on the financial statements. Unsecured personal facilities, including credit cards, are generally written off at between 150 and 210 days past due. The standard period runs until the end of the month in which the account becomes 180 days contractually delinquent. Write-off periods may be extended, generally to no more than 360 days past due. However, in exceptional circumstances, they may be extended further. For secured facilities, write-off should occur upon repossession of collateral, receipt of proceeds via settlement, or determination that recovery of the collateral will not be pursued. Any secured assets maintained on the balance sheet beyond There are exceptions in a few countries and territories where local regulation or legislation constrains earlier write-off, or where the realisation of collateral for secured real estate lending takes more time. In the event of bankruptcy or analogous proceedings, write-off may occur earlier than the maximum periods stated above. Collection procedures may continue after write-off. Renegotiated loans and forbearance (Audited) ‘Forbearance’ describes concessions made on the contractual terms of a loan in response to an obligor’s financial difficulties. A loan is classed as ‘renegotiated’ when we modify the contractual payment terms on concessionary terms because we have significant concerns about the borrowers’ ability to meet contractual payments when due. Non-payment-related concessions (e.g. covenant waivers), while potential indicators of impairment, do not trigger identification as renegotiated loans. Loans that have been identified as renegotiated retain this designation until maturity or derecognition. For details of our policy on derecognised renegotiated loans, see Note 1.2(i) on the financial statements Summary of financial instruments to which the impairment requirements in IFRS 9 are applied (Audited) 31 Dec 2019 At 31 Dec 2018 Gross carrying/nominal amount Allowance for ECL 1 Gross carrying/nominal amount Allowance for ECL 1 Footnotes $m $m $m $m Loans and advances to customers at amortised cost 1,045,475 (8,732 ) 990,321 (8,625 ) – personal 434,271 (3,134 ) 394,337 (2,947 ) – corporate and commercial 540,499 (5,438 ) 534,577 (5,552 ) – non-bank financial institutions 70,705 (160 ) 61,407 (126 ) Loans and advances to banks at amortised cost 69,219 (16 ) 72,180 (13 ) Other financial assets measured at amortised cost 615,179 (118 ) 582,917 (55 ) – cash and balances at central banks 154,101 (2 ) 162,845 (2 ) – items in the course of collection from other banks 4,956 — 5,787 — – Hong Kong Government certificates of indebtedness 38,380 — 35,859 — – reverse repurchase agreements – non-trading 240,862 — 242,804 — – financial investments 85,788 (53 ) 62,684 (18 ) – prepayments, accrued income and other assets 2 91,092 (63 ) 72,938 (35 ) Total gross carrying amount on-balance sheet 1,729,873 (8,866 ) 1,645,418 (8,693 ) Loans and other credit-related commitments 600,029 (329 ) 592,008 (325 ) – personal 223,314 (15 ) 207,351 (13 ) – corporate and commercial 278,524 (307 ) 271,022 (305 ) – non-bank financial institutions 98,191 (7 ) 113,635 (7 ) Financial guarantees 20,214 (48 ) 23,518 (93 ) – personal 804 (1 ) 927 (1 ) – corporate and commercial 14,804 (44 ) 17,355 (85 ) – non-bank financial institutions 4,606 (3 ) 5,236 (7 ) Total nominal amount off-balance sheet 3 620,243 (377 ) 615,526 (418 ) 2,350,116 (9,243 ) 2,260,944 (9,111 ) Fair value Memorandum allowance for ECL 4 Fair value Memorandum allowance for 4 $m $m $m $m Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) 355,664 (166 ) 343,110 (84 ) 1 The total ECL is recognised in the loss allowance for the financial asset unless the total ECL exceeds the gross carrying amount of the financial asset, in which case the ECL is recognised as a provision. 2 Includes only those financial instruments that are subject to the impairment requirements of IFRS 9. ‘Prepayments, accrued income and other assets’, as presented within the consolidated balance sheet on page 262 , includes both financial and non-financial assets. 3 Represents the maximum amount at risk should the contracts be fully drawn upon and clients default. 4 Debt instruments measured at FVOCI continue to be measured at fair value with the allowance for ECL as a memorandum item. Change in ECL is recognised in ‘Change in expected credit losses and other credit impairment charges’ in the income statement Stage 2 days past due analysis at 31 December 2019 (Audited) Gross carrying amount Allowance for ECL ECL coverage % Of which: Of which: Of which: Of which: Of which: Of which: Stage 2 1 to 29 DPD 1 30 and > DPD 1 Stage 2 1 to 29 DPD 1 30 and > DPD 1 Stage 2 1 to 29 DPD 1 30 and > DPD 1 $m $m $m $m $m $m % % % Loans and advances to customers at amortised cost 80,182 2,471 1,676 (2,284 ) (208 ) (247 ) 2.8 8.4 14.7 – personal 15,751 1,804 1,289 (1,336 ) (178 ) (217 ) 8.5 9.9 16.8 – corporate and commercial 59,599 657 385 (920 ) (30 ) (30 ) 1.5 4.6 7.8 – non-bank financial institutions 4,832 10 2 (28 ) — — 0.6 — — Loans and advances to banks at amortised cost 1,450 — — (2 ) — — 0.1 — — Other financial assets measured at amortised cost 1,827 14 30 (38 ) — — 2.1 — — 1 Days past due (‘DPD’). Up to date accounts in stage 2 are not shown in amounts. Summary of credit risk (excluding debt instruments measured at FVOCI) by stage distribution and ECL coverage by industry sector at 31 December 2018 3 (continued) (Audited) Gross carrying/nominal amount 1 Allowance for ECL ECL coverage % Stage 1 Stage 2 Stage 3 POCI 2 Total Stage 1 Stage 2 Stage 3 POCI 2 Total Stage 1 Stage 2 Stage 3 POCI 2 Total $m $m $m $m $m $m $m $m $m $m % % % % % Loans and advances to customers at amortised cost 908,393 68,581 13,023 324 990,321 (1,276 ) (2,108 ) (5,047 ) (194 ) (8,625 ) 0.1 3.1 38.8 59.9 0.9 – personal 374,681 15,075 4,581 — 394,337 (534 ) (1,265 ) (1,148 ) — (2,947 ) 0.1 8.4 25.1 — 0.7 – corporate and commercial 474,700 51,341 8,212 324 534,577 (698 ) (812 ) (3,848 ) (194 ) (5,552 ) 0.1 1.6 46.9 59.9 1.0 – non-bank financial institutions 59,012 2,165 230 — 61,407 (44 ) (31 ) (51 ) — (126 ) 0.1 1.4 22.2 — 0.2 Loans and advances to banks at amortised cost 71,873 307 — — 72,180 (11 ) (2 ) — — (13 ) — 0.7 — — — Other financial assets measured at amortised cost 581,118 1,673 126 — 582,917 (27 ) (6 ) (22 ) — (55 ) — 0.4 17.5 — — Loan and other credit-related commitments 567,232 23,857 912 7 592,008 (143 ) (139 ) (43 ) — (325 ) — 0.6 4.7 — 0.1 – personal 205,183 1,760 408 — 207,351 (12 ) (1 ) — — (13 ) — 0.1 — — — – corporate and commercial 249,587 20,925 503 7 271,022 (126 ) (136 ) (43 ) — (305 ) 0.1 0.6 8.5 — 0.1 – financial 112,462 1,172 1 — 113,635 (5 ) (2 ) — — (7 ) — 0.2 — — — Financial guarantees 20,834 2,384 297 3 23,518 (19 ) (29 ) (45 ) — (93 ) 0.1 1.2 15.2 — 0.4 – personal 920 3 4 — 927 (1 ) — — — (1 ) 0.1 — — — 0.1 – corporate and commercial 14,963 2,101 288 3 17,355 (16 ) (25 ) (44 ) — (85 ) 0.1 1.2 15.3 — 0.5 – financial 4,951 280 5 — 5,236 (2 ) (4 ) (1 ) — (7 ) — 1.4 20.0 — 0.1 At 31 Dec 2018 2,149,450 96,802 14,358 334 2,260,944 (1,476 ) (2,284 ) (5,157 ) (194 ) (9,111 ) 0.1 2.4 35.9 58.1 0.4 1 R epresents the maximum amount at risk should the contracts be fully drawn upon and clients default. 2 Purchased or originated credit-impaired (‘POCI’). 3 During the period, the Group has re-presented the UK wholesale lending stage 1 and stage 2 amount. For further details, see page 122 . Stage 2 days past due analysis at 31 December 2018 2 (Audited) Gross carrying amount Allowance for ECL ECL coverage % Of which: Of which: Of which: Of which: Of which: Of which: Stage 2 1 to 29 1 30 and > DPD 1 Stage 2 1 to 29 1 30 and > DPD 1 Stage 2 1 to 29 1 30 and > DPD 1 $m $m $m $m $m $m % % % Loans and advances to customers at amortised cost 68,581 2,561 1,914 (2,108 ) (204 ) (254 ) 3.1 8.0 13.3 – personal 15,075 1,807 1,383 (1,265 ) (165 ) (220 ) 8.4 9.1 15.9 – corporate and commercial 51,341 744 485 (812 ) (39 ) (34 ) 1.6 5.2 7.0 – non-bank financial institutions 2,165 10 46 (31 ) — — 1.4 — — Loans and advances to banks at amortised cost 307 — — (2 ) — — 0.7 — — Other financial assets measured at amortised cost 1,673 10 26 (6 ) — — 0.4 — — 1 Days past due (‘DPD’). Up to date accounts in stage 2 are not shown in amounts. 2 During the period, the Group has re-presented the UK wholesale lending stage 1 and stage 2 amount. For further details, see page 122 . Summary of credit risk (excluding debt instruments measured at FVOCI) by stage distribution and ECL coverage by industry sector at 31 December 2019 (Audited) Gross carrying/nominal amount 1 Allowance for ECL ECL coverage % Stage 1 Stage 2 Stage 3 POCI 2 Total Stage 1 Stage 2 Stage 3 POCI 2 Total Stage 1 Stage 2 Stage 3 POCI 2 Total $m $m $m $m $m $m $m $m $m $m % % % % % Loans and advances to customers at amortised cost 951,583 80,182 13,378 332 1,045,475 (1,297 ) (2,284 ) (5,052 ) (99 ) (8,732 ) 0.1 2.8 37.8 29.8 0.8 – personal 413,669 15,751 4,851 — 434,271 (583 ) (1,336 ) (1,215 ) — (3,134 ) 0.1 8.5 25.0 — 0.7 – corporate and commercial 472,253 59,599 8,315 332 540,499 (672 ) (920 ) (3,747 ) (99 ) (5,438 ) 0.1 1.5 45.1 29.8 1.0 – non-bank financial institutions 65,661 4,832 212 — 70,705 (42 ) (28 ) (90 ) — (160 ) 0.1 0.6 42.5 — 0.2 Loans and advances to banks at amortised cost 67,769 1,450 — — 69,219 (14 ) (2 ) — — (16 ) — 0.1 — — — Other financial assets measured at amortised cost 613,200 1,827 151 1 615,179 (38 ) (38 ) (42 ) — (118 ) — 2.1 27.8 — — Loan and other credit-related commitments 577,631 21,618 771 9 600,029 (137 ) (133 ) (59 ) — (329 ) — 0.6 7.7 — 0.1 – personal 221,490 1,630 194 — 223,314 (13 ) (2 ) — — (15 ) — 0.1 — — — – corporate and commercial 259,138 18,804 573 9 278,524 (118 ) (130 ) (59 ) — (307 ) — 0.7 10.3 — 0.1 – financial 97,003 1,184 4 — 98,191 (6 ) (1 ) — — (7 ) — 0.1 — — — Financial guarantees 17,684 2,340 186 4 20,214 (16 ) (22 ) (10 ) — (48 ) 0.1 0.9 5.4 — 0.2 – personal 802 1 1 — 804 (1 ) — — — (1 ) 0.1 — — — 0.1 – corporate and commercial 12,540 2,076 184 4 14,804 (14 ) (21 ) (9 ) — (44 ) 0.1 1.0 4.9 — 0.3 – financial 4,342 263 1 — 4,606 (1 ) (1 ) (1 ) — (3 ) — 0.4 100.0 — 0.1 At 31 Dec 2019 2,227,867 107,417 14,486 346 2,350,116 (1,502 ) (2,479 ) (5,163 ) (99 ) (9,243 ) 0.1 2.3 35.6 28.6 0.4 1 R epresents the maximum amount at risk should the contracts be fully drawn upon and clients default. 2 Purchased or originated credit-impaired (‘POCI’). Credit exposure Maximum exposure to credit risk (Audited) This section provides information on balance sheet items and their offsets as well as loan and other credit-related commitments. Commentary on consolidated balance sheet movements in 2019 is provided on page 54 . The offset on derivatives remains in line with the movements in maximum exposure amounts. Maximum exposure to credit risk (Audited) 2019 2018 Maximum exposure Offset Net Maximum exposure Offset Net $m $m $m $m $m $m Loans and advances to customers held at amortised cost 1,036,743 (28,524 ) 1,008,219 981,696 (29,534 ) 952,162 – personal 431,137 (4,640 ) 426,497 391,390 (3,679 ) 387,711 – corporate and commercial 535,061 (21,745 ) 513,316 529,025 (23,421 ) 505,604 – non-bank financial institutions 70,545 (2,139 ) 68,406 61,281 (2,434 ) 58,847 Loans and advances to banks at amortised cost 69,203 — 69,203 72,167 — 72,167 Other financial assets held at amortised cost 616,648 (28,826 ) 587,822 585,600 (21,788 ) 563,812 – cash and balances at central banks 154,099 — 154,099 162,843 — 162,843 – items in the course of collection from other banks 4,956 — 4,956 5,787 — 5,787 – Hong Kong Government certificates of indebtedness 38,380 — 38,380 35,859 — 35,859 – reverse repurchase agreements – non-trading 240,862 (28,826 ) 212,036 242,804 (21,788 ) 221,016 – financial investments 85,735 — 85,735 62,666 — 62,666 – prepayments, accrued income and other assets 92,616 — 92,616 75,641 — 75,641 Derivatives 242,995 (232,908 ) 10,087 207,825 (194,306 ) 13,519 Total on-balance sheet exposure to credit risk 1,965,589 (290,258 ) 1,675,331 1,847,288 (245,628 ) 1,601,660 Total off-balance sheet 893,246 — 893,246 874,751 — 874,751 – financial and other guarantees 95,967 — 95,967 94,810 — 94,810 – loan and other credit-related commitments 797,279 — 797,279 779,941 — 779,941 At 31 Dec 2,858,835 (290,258 ) 2,568,577 2,722,039 (245,628 ) 2,476,411 Credit deterioration of financial instruments (Audited) A summary of our current policies and practices regarding the identification, treatment and measurement of stage 1, stage 2, stage 3 (credit impaired) and POCI financial instruments can be found in Note 1.2 on the financial statements. Reconciliation of changes in gross carrying/nominal amount and allowances for loans and advances to banks and customers including (Audited) Non-credit impaired Credit impaired Stage 1 Stage 2 Stage 3 POCI Total Gross carrying/ nominal amount Allowance for ECL Gross carrying/ nominal amount Allowance for ECL Gross carrying/ nominal amount Allowance for ECL Gross carrying/ nominal amount Allowance for ECL Gross carrying/ nominal amount Allowance for ECL $m $m $m $m $m $m $m $m $m $m At 1 Jan 2019 1,502,976 (1,449 ) 95,104 (2,278 ) 14,232 (5,135 ) 334 (194 ) 1,612,646 (9,056 ) Transfers of financial instruments: (36,244 ) (543 ) 31,063 1,134 5,181 (591 ) — — — — – transfers from stage 1 to stage 2 (108,434 ) 487 108,434 (487 ) — — — — — — – transfers from stage 2 to stage 1 73,086 (1,044 ) (73,086 ) 1,044 — — — — — — – transfers to stage 3 (1,284 ) 59 (5,022 ) 665 6,306 (724 ) — — — — – transfers from stage 3 388 (45 ) 737 (88 ) (1,125 ) 133 — — — — Net remeasurement of ECL arising from transfer of stage — 669 — (676 ) — (114 ) — — — (121 ) New financial assets originated or purchased 504,064 (534 ) — — — — 135 (21 ) 504,199 (555 ) Assets derecognised (including final repayments) (352,961 ) 112 (19,909 ) 553 (2,712 ) 656 (26 ) 8 (375,608 ) 1,329 Changes to risk parameters – further lending/repayment (72,239 ) 291 (2,560 ) 67 402 (6 ) 28 12 (74,369 ) 364 Changes to risk parameters – credit quality — 2 — (1,208 ) — (2,704 ) — (51 ) — (3,961 ) Changes to models used for ECL calculation — (6 ) — 4 — 14 — — — 12 Assets written off — — — — (2,657 ) 2,657 (140 ) 140 (2,797 ) 2,797 Credit-related modifications that resulted in derecognition — — — — (268 ) 125 — — (268 ) 125 Foreign exchange 16,838 (9 ) 1,201 (40 ) 160 (31 ) 1 1 18,200 (79 ) Others (821 ) 3 652 3 (3 ) 8 13 6 (159 ) 20 At 31 Dec 2019 1,561,613 (1,464 ) 105,551 (2,441 ) 14,335 (5,121 ) 345 (99 ) 1,681,844 (9,125 ) ECL income statement change for the period 534 (1,260 ) (2,154 ) (52 ) (2,932 ) Recoveries 361 Others (20 ) Total ECL income statement change for the period (2,591 ) At 31 Dec 2019 12 months ended 31 Dec 2019 Gross carrying/nominal amount Allowance for ECL ECL charge $m $m $m As above 1,681,844 (9,125 ) (2,591 ) Other financial assets measured at amortised cost 615,179 (118 ) (26 ) Non-trading reverse purchase agreement commitments 53,093 — — Performance and other guarantees not considered for IFRS 9 — — (34 ) Summary of financial instruments to which the impairment requirements in IFRS 9 are applied/Summary consolidated income statement 2,350,116 (9,243 ) (2,651 ) Debt instruments measured at FVOCI 355,664 (166 ) (105 ) Total allowance for ECL/total income statement ECL change for the period n/a (9,409 ) (2,756 ) Reconciliation of changes in gross carrying/nominal amount and allowances for loans and advances to banks and customers including loan commitments and financial guarantees 1,2 (Audited) Non-credit impaired Credit impaired Total Stage 1 Stage 2 Stage 3 POCI Gross exposure Allowance/ provision for ECL Gross exposure Allowance/ provision for ECL Gross exposure Allowance/ provision for ECL Gross exposure Allowance/ provision for ECL Gross exposure Allowance/ provision for ECL $m $m $m $m $m $m $m $m $m $m At 1 Jan 2018 1,446,857 (1,469 ) 102,032 (2,406 ) 15,083 (5,722 ) 1,042 (242 ) 1,565,014 (9,839 ) Transfers of financial instruments: (8,747 ) (685 ) 3,582 1,185 5,165 (500 ) — — — — – transfers from stage 1 to stage 2 (84,181 ) 319 84,181 (319 ) — — — — — — – transfers from stage 2 to stage 1 77,325 (999 ) (77,325 ) 999 — — — — — — – transfers to stage 3 (2,250 ) 35 (4,439 ) 607 6,689 (642 ) — — — — – transfers from stage 3 359 (40 ) 1,165 (102 ) (1,524 ) 142 — — — — Net remeasurement of ECL arising from transfer of stage — 620 — (605 ) — (103 ) — — — (88 ) Net new lending and further lending/payments 126,868 (512 ) (16,162 ) 564 (2,902 ) 733 (587 ) 42 107,217 827 Changes to risk parameters – credit quality — 423 — (1,087 ) — (2,238 ) — (51 ) — (2,953 ) Changes to models used for ECL calculation — — — — — — — — — — Assets written off — — — — (2,568 ) 2,552 (1 ) 1 (2,569 ) 2,553 Foreign exchange (52,911 ) 76 (2,935 ) 99 (636 ) 232 (26 ) 6 (56,508 ) 413 Other (9,091 ) 98 8,587 (28 ) 90 (89 ) (94 ) 50 (508 ) 31 At 31 Dec 2018 1,502,976 (1,449 ) 95,104 (2,278 ) 14,232 (5,135 ) 334 (194 ) 1,612,646 (9,056 ) ECL income statement change for the period 531 (1,128 ) (1,608 ) (9 ) (2,214 ) Recoveries 408 Others (62 ) Total ECL income statement change for the period (1,868 ) At 31 Dec 2018 12 months ended 31 Dec 2018 Gross carrying/nominal amount Allowance for ECL ECL charge $m $m $m As above 1,612,646 (9,056 ) (1,868 ) Other financial assets measured at amortised cost 582,917 (55 ) 21 Non-trading reverse purchase agreement commitments 65,381 — — Performance and other guarantees not considered for IFRS 9 — — (25 ) Summary of financial instruments to which the impairment requirements in IFRS 9 are applied/ Summary consolidated income statement 2,260,944 (9,111 ) (1,872 ) Debt instruments measured at FVOCI 343,110 (84 ) 105 Total allowance for ECL/total income statement ECL change for the period n/a (9,195 ) (1,767 ) 1 The 31 December 2018 comparative ‘Reconciliation of changes in gross carrying/nominal amount and allowances for loans and advances to banks and customers‘ disclosure presents ‘New financial assets originated or purchased’, ‘Assets derecognised (including final repayments)’ and ‘Changes to risk parameters – further lending/repayments’ under ‘Net new lending and further lending/repayments’. To provide greater granularity, these amounts have been separately presented in the 31 December 2019 disclosure. 2 During the period, the Group has re-presented the UK wholesale lending stage 1 and stage 2 amount for 31 December 2018 only. For further details, see page 122 . Credit quality Credit quality of financial instruments (Audited) We assess the credit quality of all financial instruments that are subject to credit risk. The credit quality of financial instruments is a point-in-time assessment of PD, whereas stages 1 and 2 are determined based on relative deterioration of credit quality since initial recognition. Accordingly, for non-credit-impaired financial instruments, there is no direct relationship between the credit quality assessment and stages 1 and 2, although typically the lower credit quality bands exhibit a higher proportion in stage 2. The five credit quality classifications each encompass a range of granular internal credit rating grades assigned to wholesale and personal lending businesses and the external ratings attributed by external agencies to debt securities, as shown in the table on page 121 . Distribution of financial instruments by credit quality at 31 December 2019 (Audited) Gross carrying/notional amount Allowance for ECL/other credit provisions Net Strong Good Satisfactory Sub-standard Credit impaired Total $m $m $m $m $m $m $m $m In-scope for IFRS 9 Loans and advances to customers held at amortised cost 524,889 258,402 228,485 20,007 13,692 1,045,475 (8,732 ) 1,036,743 – personal 354,461 45,037 27,636 2,286 4,851 434,271 (3,134 ) 431,137 – corporate and commercial 138,126 190,470 186,383 16,891 8,629 540,499 (5,438 ) 535,061 – non-bank financial institutions 32,302 22,895 14,466 830 212 70,705 (160 ) 70,545 Loans and advances to banks held at amortised cost 60,636 5,329 1,859 1,395 — 69,219 (16 ) 69,203 Cash and balances at central banks 151,788 1,398 915 — — 154,101 (2 ) 154,099 Items in the course of collection from other banks 4,935 18 3 — — 4,956 — 4,956 Hong Kong Government certificates of indebtedness 38,380 — — — — 38,380 — 38,380 Reverse repurchase agreements – non-trading 193,157 37,947 9,621 137 — 240,862 — 240,862 Financial investments 78,318 6,503 906 61 — 85,788 (53 ) 85,735 Prepayments, accrued income and other assets 70,675 8,638 11,321 306 152 91,092 (63 ) 91,029 – endorsements and acceptances 1,133 4,651 4,196 230 4 10,214 (16 ) 10,198 – accrued income and other 69,542 3,987 7,125 76 148 80,878 (47 ) 80,831 Debt instruments measured at fair value through other comprehensive income 1 333,158 10,966 7,222 544 1 351,891 (166 ) 351,725 Out-of-scope for IFRS 9 Trading assets 135,059 15,240 22,964 2,181 — 175,444 — 175,444 Other financial assets designated and otherwise mandatorily measured at fair value through profit or loss 4,655 1,391 5,584 139 — 11,769 — 11,769 Derivatives 187,636 42,642 11,894 821 2 242,995 — 242,995 Total gross carrying amount on balance sheet 1,783,286 388,474 300,774 25,591 13,847 2,511,972 (9,032 ) 2,502,940 Percentage of total credit quality 70.9% 15.5% 12.0% 1.0% 0.6% 100% Loan and other credit-related commitments 369,424 146,988 77,499 5,338 780 600,029 (329 ) 599,700 Financial guarantees 7,441 6,033 5,539 1,011 190 20,214 (48 ) 20,166 In-scope: Irrevocable loan commitments and financial guarantees 376,865 153,021 83,038 6,349 970 620,243 (377 ) 619,866 Loan and other credit-related commitments 2 66,148 69,890 58,754 2,605 182 197,579 — 197,579 Performance and other guarantees 30,099 23,335 20,062 2,057 380 75,933 (132 ) 75,801 Out-of-scope: Revocable loan commitments and non-financial guarantees 96,247 93,225 78,816 4,662 562 273,512 (132 ) 273,380 Distribution of financial instruments by credit quality at 31 December 2018 (continued) (Audited) Gross carrying/notional amount Allowance for ECL/other credit provisions Net Strong Good Satisfactory Sub- standard Credit impaired Total $m $m $m $m $m $m $m $m In-scope for IFRS 9 Loans and advances to customers held at amortised cost 485,451 244,199 230,357 16,993 13,321 990,321 (8,625 ) 981,696 – personal 316,616 43,764 27,194 2,182 4,581 394,337 (2,947 ) 391,390 – corporate and commercial 140,387 181,984 189,357 14,339 8,510 534,577 (5,552 ) 529,025 – non-bank financial institutions 28,448 18,451 13,806 472 230 61,407 (126 ) 61,281 Loans and advances to banks held at amortised cost 60,249 7,371 4,549 11 — 72,180 (13 ) 72,167 Cash and balances at central banks 160,995 1,508 324 18 — 162,845 (2 ) 162,843 Items in the course of collection from other banks 5,765 21 1 — — 5,787 — 5,787 Hong Kong Government certificates of indebtedness 35,859 — — — — 35,859 — 35,859 Reverse repurchase agreements – non-trading 200,774 29,423 12,607 — — 242,804 — 242,804 Financial investments 56,031 5,703 949 1 — 62,684 (18 ) 62,666 Prepayments, accrued income and other assets 55,424 8,069 9,138 181 126 72,938 (35 ) 72,903 – endorsements and acceptances 1,514 4,358 3,604 155 3 9,634 (11 ) 9,623 – accrued income and other 53,910 3,711 5,534 26 123 63,304 (24 ) 63,280 Debt instruments measured at fair value through other comprehensive income 1 319,632 12,454 7,210 2,558 12 341,866 (84 ) 341,782 Out-of-scope for IFRS 9 Trading assets 139,484 18,888 16,991 1,871 — 177,234 — 177,234 Other financial assets designated and otherwise mandatorily measured at fair value through profit or loss 6,079 2,163 6,683 9 — 14,934 — 14,934 Derivatives 169,121 31,225 6,813 625 41 207,825 — 207,825 Total gross carrying amount on balance sheet 1,694,864 361,024 295,622 22,267 13,500 2,387,277 (8,777 ) 2,378,500 Percentage of total credit quality 71% 15.1% 12.4% 0.9% 0.6% 100% Loan and other credit-related commitments 373,302 137,076 75,478 5,233 919 592,008 (325 ) 591,683 Financial guarantees 9,716 7,400 5,505 597 300 23,518 (93 ) 23,425 In-scope: Irrevocable loan commitments and financial guarantees 383,018 144,476 80,983 5,830 1,219 615,526 (418 ) 615,108 Loan and other credit-related commitments 2 188,258 — — — — 188,258 — 188,258 Performance and other guarantees 26,679 25,743 16,790 1,869 403 71,484 (99 ) 71,385 Out-of-scope: Revocable loan commitments and non-financial guarantees 214,937 25,743 16,790 1,869 403 259,742 (99 ) 259,643 1 For the purposes of this disclosure, gross carrying value is defined as the amortised cost of a financial asset before adjusting for any loss allowance. As such, the gross carrying value of debt instruments at FVOCI as presented above will not reconcile to the balance sheet as it excludes fair value gains and losses. 2 In 2018, revocable loan and other commitments, which are out of scope of IFRS 9, are presented within the ‘Strong’ classification. Distribution of financial instruments to which the impairment requirements in IFRS 9 are applied, by credit quality and stage allocation (Audited) Gross carrying/notional amount Allowance for ECL Net Strong Good Satisfactory Sub- Credit impaired Total Footnotes $m $m $m $m $m $m $m $m Loans and advances to customers at amortised cost 524,889 258,402 228,485 20,007 13,692 1,045,475 (8,732 ) 1,036,743 – stage 1 523,092 242,631 181,056 4,804 — 951,583 (1,297 ) 950,286 – stage 2 1,797 15,771 47,429 15,185 — 80,182 (2,284 ) 77,898 – stage 3 — — — — 13,378 13,378 (5,052 ) 8,326 – POCI — — — 18 314 332 (99 ) 233 Loans and advances to banks at amortised cost 60,636 5,329 1,859 1,395 — 69,219 (16 ) 69,203 – stage 1 60,548 5,312 1,797 112 — 67,769 (14 ) 67,755 – stage 2 88 17 62 1,283 — 1,450 (2 ) 1,448 – stage 3 — — — — — — — — – POCI — — — — — — — — Other financial assets measured at amortised cost 537,253 54,505 22,766 503 152 615,179 (118 ) 615,061 – stage 1 536,942 54,058 21,921 279 — 613,200 (38 ) 613,162 – stage 2 311 447 845 224 — 1,827 (38 ) 1,789 – stage 3 — — — — 151 151 (42 ) 109 – POCI — — — — 1 1 — 1 Loan and other credit-related commitments 369,424 146,988 77,499 5,338 780 600,029 (329 ) 599,700 – stage 1 368,711 141,322 66,283 1,315 — 577,631 (137 ) 577,494 – stage 2 713 5,666 11,216 4,023 — 21,618 (133 ) 21,485 – stage 3 — — — — 771 771 (59 ) 712 – POCI — — — — 9 9 — 9 Financial guarantees 7,441 6,033 5,539 1,011 190 20,214 (48 ) 20,166 – stage 1 7,400 5,746 4,200 338 — 17,684 (16 ) 17,668 – stage 2 41 287 1,339 673 — 2,340 (22 ) 2,318 – stage 3 — — — — 186 186 (10 ) 176 – POCI — — — — 4 4 — 4 At 31 Dec 2019 1,499,643 471,257 336,148 28,254 14,814 2,350,116 (9,243 ) 2,340,873 Debt instruments at FVOCI 1 – stage 1 333,072 10,941 6,902 — — 350,915 (39 ) 350,876 – stage 2 86 25 320 544 — 975 (127 ) 848 – stage 3 — — — — — — — — – POCI — — — — 1 1 — 1 At 31 Dec 2019 333,158 10,966 7,222 544 1 351,891 (166 ) 351,725 1 For the purposes of this disclosure, gross carrying value is defined as the amortised cost of a financial asset before adjusting for any loss allowance. As such, the gross carrying value of debt instruments at FVOCI as presented above will not reconcile to the balance sheet as it excludes fair value gains and losses. Distribution of financial instruments to which the impairment requirements in IFRS 9 are applied, by credit quality and stage allocation 2 (continued) (Audited) Gross carrying/notional amount Strong Good Satisfactory Sub-standard Credit impaired Total Allowance for ECL Net Footnotes $m $m $m $m $m $m $m $m Loans and advances to customers at amortised cost 485,451 244,199 230,357 16,993 13,321 990,321 (8,625 ) 981,696 – stage 1 483,170 232,004 187,773 5,446 — 908,393 (1,276 ) 907,117 – stage 2 2,281 12,195 42,584 11,521 — 68,581 (2,108 ) 66,473 – stage 3 — — — — 13,023 13,023 (5,047 ) 7,976 – POCI — — — 26 298 324 (194 ) 130 Loans and advances to banks at amortised cost 60,249 7,371 4,549 11 — 72,180 (13 ) 72,167 – stage 1 60,199 7,250 4,413 11 — 71,873 (11 ) 71,862 – stage 2 50 121 136 — — 307 (2 ) 305 – stage 3 — — — — — — — — – POCI — — — — — — — — Other financial assets measured at amortised cost 514,848 44,724 23,019 200 126 582,917 (55 ) 582,862 – stage 1 514,525 44,339 22,184 70 — 581,118 (27 ) 581,091 – stage 2 323 385 835 130 — 1,673 (6 ) 1,667 – stage 3 — — — — 126 126 (22 ) 104 – POCI — — — — — — — — Loan and other credit-related commitments 373,302 137,076 75,478 5,233 919 592,008 (325 ) 591,683 – stage 1 372,529 131,278 62,452 973 — 567,232 (143 ) 567,089 – stage 2 773 5,798 13,026 4,260 — 23,857 (139 ) 23,718 – stage 3 — — — — 912 912 (43 ) 869 – POCI — — — — 7 7 — 7 Financial guarantees 9,716 7,400 5,505 597 300 23,518 (93 ) 23,425 – stage 1 9,582 6,863 4,231 158 — 20,834 (19 ) 20,815 – stage 2 134 537 1,274 439 — 2,384 (29 ) 2,355 – stage 3 — — — — 297 297 (45 ) 252 – POCI — — — — 3 3 — 3 At 31 Dec 2018 1,443,566 440,770 338,908 23,034 14,666 2,260,944 (9,111 ) 2,251,833 Debt instruments at FVOCI 1 — – stage 1 319,623 12,358 6,856 2,218 — 341,055 (33 ) 341,022 – stage 2 9 96 354 340 — 799 (50 ) 749 – stage 3 — — — — 8 8 (1 ) 7 – POCI — — — — 4 4 — 4 At 31 Dec 2018 319,632 12,454 7,210 2,558 12 341,866 (84 ) 341,782 1 For the purposes of this disclosure, gross carrying value is defined as the amortised cost of a financial asset before adjusting for any loss allowance. As such, the gross carrying value of debt instruments at FVOCI as presented above will not reconcile to the balance sheet as it excludes fair value gains and losses. 2 During the period, the G |
Report Of The Directors Finan_2
Report Of The Directors Financial Review Capital Report | 12 Months Ended |
Dec. 31, 2019 | |
Report Of The Directors Financial Review Capital Report [Abstract] | |
Disclosure of audited information included in report of directors financial review capital report | Own funds Own funds disclosure (Audited) At 31 Dec 31 Dec 2019 2018 Ref * $m $m Common equity tier 1 (‘CET1’) capital: instruments and reserves 1 Capital instruments and the related share premium accounts 22,873 22,384 – ordinary shares 22,873 22,384 2 Retained earnings 127,188 121,180 3 Accumulated other comprehensive income (and other reserves) 1,735 3,368 5 Minority interests (amount allowed in consolidated CET1) 4,865 4,854 5a Independently reviewed interim net profits net of any foreseeable charge or dividend (3,381 ) 3,697 6 Common equity tier 1 capital before regulatory adjustments 153,280 155,483 28 Total regulatory adjustments to common equity tier 1 (29,314 ) (34,461 ) 29 Common equity tier 1 capital 123,966 121,022 36 Additional tier 1 capital before regulatory adjustments 24,453 26,180 43 Total regulatory adjustments to additional tier 1 capital (60 ) (60 ) 44 Additional tier 1 capital 24,393 26,120 45 Tier 1 capital 148,359 147,142 51 Tier 2 capital before regulatory adjustments 25,192 26,729 57 Total regulatory adjustments to tier 2 capital (1,401 ) (633 ) 58 Tier 2 capital 23,791 26,096 59 Total capital 172,150 173,238 * The references identify the lines prescribed in the European Banking Authority (‘EBA’) template, which are applicable and where there is a value. Throughout 2019 , we complied with the PRA’s regulatory capital adequacy requirements, including those relating to stress testing. At 31 December 2019 , our common equity tier 1 (‘CET1’) ratio increased to 14.7 % from 14.0% at 31 December 2018 . CET1 capital increased during the year by $ 2.9 bn, mainly as a result of: • capital generation of $ 6.0 bn through profits; • a fall in the deduction for goodwill and other intangible assets of $ 4.9 bn. This was primarily due to $7.3 bn of goodwill impairment, partly offset by an increase in internally generated software; • a $ 1.5 bn increase in FVOCI reserve; and • favourable foreign currency translation differences of $ 1.0 bn. These increases were partly offset by: • dividends and scrip of $ 9.0 bn; • share buy-backs of $ 1.0 bn; and • an increase in the deduction for excess expected loss $ 0.7 bn. Our Pillar 2A requirement at 31 December 2019 , as per the PRA’s Individual Capital Requirement based on a point-in-time assessment, was 3.0% of RWAs, of which 1.7% was met by CET1. |
Report of Directors Corporate G
Report of Directors Corporate Governance | 12 Months Ended |
Dec. 31, 2019 | |
Report Of Directors Corporate Governance [Abstract] | |
Disclosure of audited information included in report of directors corporate governance | Single figure of remuneration (Audited) The following table shows the single figure of total remuneration of each executive Director for 2019, together with comparative figures Single figure of remuneration Noel Quinn 1 John Flint 2 Ewen Stevenson Marc Moses 3 (£000) 2019 2018 2019 2018 2019 2018 2019 2018 Base salary 503 — 730 1,028 719 — 719 700 Fixed pay allowance 695 — 1,005 1,459 950 — 950 950 Cash in lieu of pension 50 — 134 308 107 — 107 210 Taxable benefits 4 41 — 91 40 16 — 40 13 Non-taxable benefits 4 23 — 31 28 28 — 33 38 Total fixed 1,312 — 1,991 2,863 1,820 — 1,849 1,911 Annual incentive 5 665 — 891 1,665 1,082 — 926 1,324 AML DPA award 6 — — — — — — — 695 LTI 7 — — — — — — 1,709 — Replacement award 8 — — — — 1,974 — — — Notional returns 9 — — 40 54 — — 17 33 Total variable 665 — 931 1,719 3,056 — 2,652 2,052 Total fixed and variable 1,977 — 2,922 4,582 4,876 — 4,501 3,963 1 Noel Quinn succeeded John Flint as interim Group Chief Executive with effect from 5 August 2019 and the remuneration included in the single figure table above is in respect of services provided as an executive Director. 2 John Flint stepped down as an executive Director and Group Chief Executive on 5 August 2019. His remuneration details for 2019 are in respect of services provided as an executive Director. Details of John Flint's departure terms are provided on page 234 . 3 Marc Moses stepped down as an executive Director and Group Chief Risk Officer on 31 December 2019. Details of Marc Moses' departure terms are provided on page 234 . 4 Taxable benefits include the provision of medical insurance, car and tax return assistance (including any associated tax due, where applicable). Non-taxable benefits include the provision of life assurance and other insurance cover. 5 To meet regulatory deferral requirements for 2019, 60% of the annual incentive award for John Flint and Marc Moses will be deferred in awards linked to HSBC's shares and will vest in five equal instalments between the third and seventh anniversary of the grant date. On vesting, the shares will be subject to a one -year retention period. The deferred awards are subject to the executive Director maintaining good leaver status during the deferral period. Noel Quinn will have 60% of his annual incentive award deferred, and in line with regulatory requirements it will be split equally between cash and shares subject to the same vesting and retention conditions. 6 The 2012 annual incentive for Marc Moses had a 60% deferral. The vesting of this deferred award was subject to a service condition and satisfactory completion of the five -year deferred prosecution agreement ('AML DPA') with the US Department of Justice. The AML DPA condition was satisfied in March 2018 and the awards were released. The value of Marc Moses' award in the table above reflects his time as an executive Director between 1 January 2014 and the vesting date. 7 An LTI award was made in February 2017 (in respect of 2016) at a share price of £6.503 for which the performance period ended on 31 December 2019. The value has been computed based on a share price of £5.896 , the average share price during the three-month period to 31 December 2019. This includes dividend equivalents of £ 237,030 , equivalent to 40,202 shares at a share price of £ 5.896 . See the following section for details of the assessment outcomes. 8 As set out in the 2018 Directors' remuneration report, in 2019 Ewen Stevenson was granted replacement awards to replace unvested awards, which were forfeited as a result of him joining HSBC. The awards, in general, match the performance, vesting and retention periods attached to the awards forfeited, and will be subject to any performance adjustments that would otherwise have been applied. The values included in the table relate to Ewen Stevenson's 2015 and 2016 LTI awards granted by The Royal Bank of Scotland Group plc ('RBS') for performance years 2014 and 2015, respectively, and replaced with HSBC shares when Ewen Stevenson joined HSBC. These awards are not subject to further performance conditions and commenced vesting in March 2019. The total value is an aggregate of £1,121,308 for the 2015 LTI and £852,652 for the 2016 LTI. The 2016 LTI award value has been determined by applying the performance assessment outcome of 27.5% as disclosed in RBS's Annual Report and Accounts 2018 (page 70) to the maximum number of shares subject to performance conditions. 9 ‘Notional returns’ refers to the notional return on deferred cash for awards made in prior years. The deferred cash portion of the annual incentive granted in prior years includes a right to receive notional returns for the period between grant date and vesting date, which is determined by reference to the dividend yield on HSBC shares, calculated annually. A payment of notional return is made annually in the same proportion as the vesting of the deferred awards on each vesting date. The amount is disclosed on a paid basis in the year in which the payment is made. No deferred cash awards have been made to executive Directors for their services as an executive Director since the 2016 financial year. Determining executive Directors’ performance (Audited) Awards made to executive Directors reflected the Committee’s assessment of each of their performance against scorecard objectives, and reflect the Group’s strategic priorities and risk appetite. F or the risk and compliance and personal objectives, this involved making a qualitative assessment of the extent of progress achieved, where applicable. This was then applied to the weighting of each objective to determine the outcome percentage. As part of this assessment, the Committee also consulted the Group Risk Committee and Financial System Vulnerabilities Committee, and took into consideration their feedback in determining the scorecard outcomes for the executive Directors against risk and compliance measures . In order for any annual incentive award to be made, each executive Director must achieve a required behaviour rating, The maximum 2019 annual incentive opportunity for Noel Quinn and John Flint was set at 198% of salary and for Ewen Stevenson and Marc Moses at 193% of salary. Noel Quinn’s and John Flint’s 2019 scorecard outcomes were assessed by taking into consideration the Group’s performance against the 2019 scorecard measures for the Group Chief Executive, as set out in the Annual Report and Accounts 2018 . The outcomes for these measures have been pro-rated for the time spent by Noel Quinn and John Flint in the Group Chief Executive role during 2019 to determine their annual incentive awards. Based on input received from the Group Risk Committee, there was a difference in the Group’s performance against the risk and compliance measure during Noel Quinn’s and John Flint’s tenures, and this has been reflected in their overall scorecard outcomes and annual incentive awards as noted in the following tables. Annual assessment Group Chief Executive Group Chief Financial Officer Group Chief Risk Officer Weighting (%) Assessment (%) Outcome (%) Weighting (%) Assessment (%) Outcome (%) Weighting (%) Assessment (%) Outcome (%) Profit before tax 1 10.0 92.5 9.3 10.0 92.5 9.3 10.0 92.5 9.3 Positive jaws 5.0 100.0 5.0 10.0 100.0 10.0 — — — Revenue growth 10.0 79.4 7.9 — — — — — — RoTE 5.0 48.7 2.4 8.3 48.7 4.0 3.3 48.7 1.6 Capital metrics 5.0 62.5 3.1 16.7 62.5 10.4 6.7 62.5 4.2 Strategic priorities 30.0 39.3 11.8 20.0 68.8 13.8 15.0 41.7 6.3 Risk and compliance 25.0 77.5 19.4 25.0 90.0 22.5 45.0 63.9 28.7 Personal objectives 10.0 75.0 7.5 10.0 75.0 7.5 20.0 81.3 16.2 Total 100.0 66.4 100.0 77.5 100.0 66.3 Maximum annual incentive opportunity (£000) £2,451 £1,396 £1,396 Annual incentive (£000) £1,082 £926 – Noel Quinn 2 £665 – John Flint 3 £891 Financial performance Annual assessment Minimum (25% payout) Maximum (100% payout) Performance Assessment (%) Measure Profit before tax ($bn) 1 $21.3 $24.3 $24.0 92.5 Positive jaws (%) Positive 2.5 3.0 100.0 Deliver mid-single digit revenue growth (%) 3.0 7.0 5.9 79.4 Reported RoTE (%) 7.8 9.7 8.4 48.7 Capital metrics 4 Various (see following notes and performance assessment) Strategic priorities 5 1 Profit before tax, as defined for Group annual bonus pool calculation. This definition excludes business disposal gains and losses, debt valuation and goodwill adjustments and variable pay expense. However, it takes into account fines, penalties and costs of customer redress, including provisions, which are excluded from the adjusted profit before tax. Other significant items are included or excluded in line with the principles underpinning the definition. The adjusted profit before tax as per adjusted results is found on page 2 . 2 Noel Quinn performed the Group Chief Executive role from 5 August 2019 to 31 December 2019. The performance assessment for Noel Quinn against the risk and compliance measure was 77.5% , resulting in an outcome of 19.4% against this measure. This results in an overall scorecard outcome of 66.4% for him. His annual incentive award has been determined based on 40.8% of the performance outcome to reflect the time spent by him in the Group Chief Executive role during 2019. 3 John Flint performed the Group Chief Executive role from 1 January 2019 to 4 August 2019. The performance assessment for John Flint against the risk and compliance measure was 57.5% , resulting in an outcome of 14.4% against this measure. This results in an overall scorecard outcome of 61.4% for him. His annual incentive award has been determined based on 59.2% of this performance outcome to reflect the time spent by him in the Group Chief Executive role during 2019. 4 Maintaining and improving Group capital measures, primarily equity measures, in line with our intent to maintain a CET1 ratio of more than 14% . 5 Strategic priorities measures include: accelerate revenue growth from our Asian franchise, grow international revenue, turn around the US business, improve customer service, strengthen external relationships and employee engagement. Non-financial performance Group Chief Executive (Noel Quinn and John Flint) Objectives Performance Strategic priorities • Accelerate revenue growth from our Asia franchise • Deliver revenue growth from our international network • Turn around the US business • Improve customer satisfaction • The full-year revenue growth of 7.1% in Asia, 11.6% in Asia wealth management, 6.6% in Hong Kong and 5.4% in the ASEAN region were all within their respective target ranges but below the maximum targets set for these measures. Growth of 9.8% in the Pearl River Delta was below the target range. This measure carried a 15% weighting, with a performance assessment of 54%, resulting in an overall scorecard outcome of 8.05%. • Revenue growth from international clients of 2.0% was below the full-year target range of 3.5 to 7.5%. This measure carried a 5% weighting and has not resulted in any payout. • The lower interest rate environment and challenging conditions, particularly in capital markets, impacted the US RoTE target, with the full-year RoTE of 1.8%, below the 2% to 4% target range for 2019. This measure carried a 5% weighting and has not resulted in any payout. • Customer service in RBWM in six out of eight scale markets was ranked in the top three, or improved from 2018. In CMB, four out of eight scale markets were within the top-three rankings. The GB&M customer engagement score was ahead of the competition, despite having decreased by 2 points since 2018. In GPB, the overall satisfaction score increased from a mean score of 7.6 out of 10 in 2018 to 8.0 in 2019. Initiatives for continual improvement of customer satisfaction remain a high priority. This measure carried a 5% weighting, with a performance assessment of 75% and a scorecard outcome of 3.75%. Risk and compliance • Achieve and deliver sustainable global conduct outcomes and effective financial crime risk management • Effectively manage material operational risks The assessment has been based on the management of financial crime risk, delivery of conduct outcomes and management of the Group’s operational risk profile. There was a firm commitment to the compliance agenda and a strong tone from the top that contributed towards: • improvement in the management of financial crime risks through increased effectiveness of the financial crime risk management committees, proactive management of data quality, a more robust financial crime risk control environment and conduct outcomes across the Group; • the encouragement of a ‘speak up’ culture; and • the acceleration of the full adoption of the operational risk management framework across the first and second lines of defence to manage non-financial risk more effectively. There was a slower pace of progress on operational risk matters in the first half of 2019 and this was reflected in the lower outcome assessed for John Flint. Personal objectives • Strengthen the Group’s external relationships • Improve employee engagement • Improve diversity in senior management • Interactions with investors and regulators received positive feedback. They were described as professional, competent and embodying trust, respect and transparency. • Employer advocacy, as a measure of employee engagement, remained stable at 66%, although below the target of 69%. Efforts to improve engagement continue. • Female representation in senior leadership roles at 29.4% exceeded the target of 29%, and is on track towards the aspirational target of 30% female leaders in senior positions by 2020. Group Chief Financial Officer (Ewen Stevenson) Objectives Performance Strategic priorities • Turn around the US business • Improve Finance function support to global businesses through investment in digital capabilities • Simplify the organisation and deliver cost savings • The lower interest rate environment and challenging conditions, particularly in capital markets, impacted the US RoTE target, with the full-year RoTE of 1.8%, below the 2% to 4% 2019 target range. This measure carried a 5% weighting and has not resulted in any payout. • The deployment of Cloud technologies for regulatory liquidity reporting was executed to plan, with migration to Cloud infrastructure by the year-end. Full migration to Cloud technology for the Finance function has focused on three key areas: Finance operating model, people skills and regulatory engagement. This measure carried a 5% weighting and 75% performance outcome. • Simplification of the Finance function’s structure led to more effective management of the function. Finance launched a ‘Stop and Simplify’ campaign to implement initiatives, leading to greater efficiencies. Other initiatives continue to target enhanced employee engagement, skills development and advocacy. This measure carried a 10% weighting and was assessed as fully met. Risk and compliance • Achieve and deliver sustainable global conduct outcomes and effective financial crime risk management • Effectively manage material operational risks • Deliver commitments to regulators, including the successful delivery of the Bank of England and other stress tests • The assessment has been based on the management of financial crime risk, delivery of conduct outcomes, management of the Group’s operational risk profile, delivery of stress tests and other commitments to the regulators. • Processes for monitoring and reporting conduct outcomes were enhanced and overseen by senior governance structures. No significant conduct issues, breaches or reportable events were identified. Internal review of conduct and controls, including governance, were rated as effective. • Progress is underway to embed the risk management framework to manage non-financial risks more effectively. There is robust stewardship of financial reporting risk across the Group with a strong tone from the top supported by senior governance forums. • Regulatory stress test updates were delivered on time and to the required standard, with regulator queries addressed in a timely manner. Personal objectives • Strengthen the Group’s external relationships • Improve employee engagement • Improve diversity in senior management • The investor relations strategy was fulfilled, covering all key regions and strengthening the Group’s relationships with key stakeholders. Effective interactions helped to gain considerable traction with key regulators in core markets. • Employer advocacy, as a measure of employee engagement, remained stable at 66%, although below the target of 69%. Efforts to improve engagement continue. • Female representation in senior leadership roles in the Global Finance function at 29.6% exceeded the target of 29.2%, primarily due to the recruitment of women in key senior leadership roles. Sponsorship of the Global Disability Confidence Programme, female development programmes, parental transition coaching, and PRIDE (LBGTQ) sensitisation training all supported diversity and inclusion in the function. Group Chief Risk Officer (Marc Moses) Objectives Performance Strategic priorities • Turn around the US business • Improve customer satisfaction • Simplify the organisation and deliver cost savings • The lower interest rate environment and challenging conditions, particularly in capital markets has impacted the US RoTE target, with the full-year RoTE of 1.8%, below the 2% to 4% 2019 target range. This measure carried a 5% weighting and has not resulted in any payout. • The focus on customer satisfaction continued across markets, with improvements identified for action. • Targeted cost savings in the function were achieved through consolidation of work, simplification of structures and centres of excellence. Risk and compliance • Achieve and deliver sustainable global conduct outcomes and effective financial crime risk management • Effectively manage material operational risks • Deliver commitments to regulators, including the successful delivery of the Bank of England and other stress tests • Successfully enhance model risk management • The assessment has been based on the management of financial crime risk, delivery of conduct outcomes, management of the Group’s operational risk profile, delivery of stress tests and other commitments to the regulators and model risk management. • The 2019 conduct agenda continued to drive forward by maintaining a strong tone from the top, fostering a ‘speak up’ culture and targeting ongoing monitoring. • The Group’s top non-financial risks remained broadly unchanged in 2019, with a focus on model risk and resilience risk stewardship. There was an increased focus to fully adopt the operational risk management framework and to manage non-financial risks more effectively. • Progress is underway to embed the operational risk management framework to manage non-financial risks more effectively, with robust stewardship of financial reporting risk across the Group and a strong tone from the top. • The 2019 annual cyclical scenario was successfully delivered to the PRA and the CCAR submission was delivered to the US Federal Reserve Board. • The enhancement of model risk management is underway through staff appointments, training and the delivery of the model ownership framework. Personal objectives • Support innovation • Strengthen the Group’s external relationships • Improve employee engagement • Improve diversity in senior management • The education of Global Risk employees in innovation continues, with increasing deployment of Cloud technologies and Agile methodologies. • There were successful and regular interactions with stakeholders. Regulators repeatedly highlighted the excellence of financial risk management. The improvement of non-financial risk management remains a continued focus. • Employer advocacy, as a measure of employee engagement, remained stable at 66%, although below the target of 69%. Initiatives to improve engagement continue. • Female representation in senior leadership roles at 25.6% exceeded the target of 24%. 2016 long-term incentive performance The 2016 LTI award was granted to Marc Moses, Stuart Gulliver (former Group Chief Executive) and Iain Mackay (former Group Finance Director). The awards that will vest for Stuart Gulliver and Iain Mackay will be determined after applying the performance outcome below to their 2016 LTI award and pro-rating for time in employment during the performance period of 1 January 2017 to 31 December 2019 (as disclosed in the Annual Report and Accounts 2018 ). Assessment of the LTI award in respect of 2016 (granted in 2017) Measures (with weighting) Minimum (25% payout) Target (50% payout) Maximum (100% payout) Actual Assessment Outcome Average return on equity 1 (20.00%) 7.00% 8.50% 10.00% 8.33% 47.17% 9.43% Cost efficiency Positive 1.50% 3.00% 3.10% 100.00% 20.00% Relative total shareholder return 2 (20.00%) At median of the peer group. Straight-line vesting between minimum and maximum. At upper quartile of the peer group. Rank 5th 68.00% 13.60% Global Standards including risk and compliance • Status of AML DPA (10.00%) Not applicable Not applicable Met all commitments to achieve closure of the AML DPA and protect HSBC from further regulatory censure for financial crime compliance failings. Met 100.00% 10.00% • Achieve and sustain compliance with Global Financial Crime Compliance policies and procedures 3 (15.00%) Performance assessed by the Committee based on a number of qualitative and quantitative inputs such as feedback from the Financial System Vulnerabilities Committee, Group Financial Crime Risk assessment against Financial Crime Compliance objectives, outcome of assurance and audit reviews, and achievement of the long-term Group objectives and priorities during the performance period. 75.00% 75.00% 11.25% Strategy • International client revenues (Share of revenue supported by international network) (3.75%) 50.00% 51.00% 52.00% 53.00% 100.00% 3.75% • Revenue synergies (Share of revenues supported by universal banking model) (3.75%) 22.00% 23.00% 24.00% 31.00% 100.00% 3.75% • Employee 4 (Results of employee survey) (3.75%) 65.00% 67.00% 70.00% 58.00% 0.00% 0.00% • Customer (Based on customer recommendation in home country markets) (3.75%) Rank within top three in at least two of the four RBWM and CMB customer segments in home country markets. Rank within top three in three of the four RBWM and CMB customer segments in home country markets. Rank within top three in all four RBWM and CMB customer segments in home country markets. Ranked within top three in two customer segments 25.00% 0.94% Total 5 72.72% 1 Significant items are excluded from the profit attributable to ordinary shareholders of the company for the purpose of computing adjusted return on equity. 2 The peer group for the 2016 award is: Australia and New Zealand Banking Group, Bank of America, Barclays, BNP Paribas, Citigroup, Credit Suisse Group, DBS Group Holdings, Deutsche Bank, J.P. Morgan Chase & Co., Lloyds Banking Group, Standard Chartered and UBS Group. 3 The performance outcome was reviewed and approved by the Group Risk Committee and the Financial System Vulnerabilities Committee. The performance assessment was based on qualitative and quantitative factors, which evidenced an improvement in financial crime risk-related audit outcomes, an overall reduction of residual risk for anti-money laundering and sanctions as assessed by our enterprise-wide risk assessment, improvement of financial crime risk control effectiveness during the performance period and strong financial crime governance. 4 Assessed based on results of the latest employee Snapshot survey question: ‘I am seeing the positive impact of our strategy’. 5 Assessment determined on a straight-line basis for performance between the minimum, target and maximum levels of performance set in this table. Long-term incentive awards (Audited) For the 2019 performance year, the Committee determined to grant Ewen Stevenson an LTI award of £2,094,400 , after taking into consideration performance achieved for the financial year ended 31 December 2019. The award will be subject to a three -year performance period starting 1 January 2020. As the award is not entitled to dividend equivalents per regulatory requirements, the number of shares to be awarded will be adjusted to reflect the expected dividend yield of the shares over the vesting period. The Committee has not granted an LTI award to Noel Quinn given he has been in an interim capacity in the Chief Executive role. Taking into account feedback we received from proxy voting agencies on the 2018 LTI scorecard, we have introduced a relative performance measure in our LTI scorecard. We believe a relative measure along with an absolute financial metric will provide a more complete view of overall performance. Based on this feedback, the 2019 LTI scorecard gives equal weighting to RoTE, relative TSR and customer measures. The RoTE measure will ensure the payout of LTI awards is aligned with value creation. The relative TSR measure will ensure LTI payout realised by our executive Directors is aligned with shareholder experience. We are putting customer feedback at the centre of decision making and are in the process of implementing a new customer centricity framework, which is designed to inspire us to do what is right for customers. It will help us to share feedback directly with our people and allow them to take immediate action to improve customer experiences. The customer measure in the 2019 LTI scorecard will reward our executive Directors for improvement in customer experience and satisfaction in our key home and scale markets. RoTE targets for the LTI award have been set in line with targets included in our business update. For the relative TSR measure, in line with our shareholders' expectation, the minimum performance has been set at the median of the peer group. For maximum payout, our TSR performance over the three -year performance period will need to be in the upper quartile of our peer group. For the customer measure, performance will be assessed based on improvements made in our customer satisfaction scores in home and scale markets and the progress we make during the three -year performance period in meeting the customer-linked business objectives. The LTI is also subject to a risk and compliance underpin, which gives the Committee the discretion to adjust down the overall scorecard outcome to ensure that the Group operates within risk and /or compliance tolerance when achieving its financial targets. For this purpose, the Committee will receive information including any risk thresholds outside of tolerance for a significant period of time and any risk management failures that have resulted in significant customer detriment, reputational damage and/or regulatory censure . The measures and weighting that will be used to assess performance and payout are described in the following table. To the extent performance conditions are satisfied at the end of the three -year performance period, the awards will vest in five equal annual instalments commencing from around the third anniversary of the grant date. On vesting, shares equivalent to the net number of shares that have vested (after those sold to cover any income tax and security payable) will be held for a retention period of up to one year , or such period as required by regulators. Performance conditions for LTI awards in respect of 2019 Measures Minimum (25% payout) Target (50% payout) Maximum (100% payout) Weighting % RoTE (with CET1 underpin) 1, 2 10.0% 11.0% 12.0% 33.3 Relative TSR 3 At median of the peer group Straight-line vesting between minimum and maximum At upper quartile of peer group 33.3 Customers Performance will be assessed by the Committee taking into consideration: • customer satisfaction scores at the start and end of the three-year performance period for our global businesses in home and scale markets as per data provided by an independent third party on HSBC’s performance across our products and services; and • progress against customer objectives linked to our strategy over the next three years. 33.3 1 To be assessed based on RoTE in the 2022 financial year. The measure will also be subject to a CET1 underpin. If the CET1 ratio at the end of performance period is below the CET1 risk tolerance level set in the risk appetite statement, then the assessment for this measure will be reduced to nil. 2 Awards will vest on a straight-line basis for performance between the minimum, target and maximum levels of performance set in this table. 3 The peer group for the 2019 award is: Bank of America, Barclays, BNP Paribas, Citigroup, Credit Suisse Group, DBS Group Holdings, Deutsche Bank, J.P. Morgan Chase & Co., Lloyds Banking Group, Morgan Stanley, Standard Chartered and UBS Group. Scheme interests awarded during 2019 (Audited) The table below sets out the scheme interests awarded to Directors in 2019, as disclosed in the 2018 Directors’ remuneration report. No non-executive Directors received scheme interests during the financial year. Scheme awards in 2019 (Audited) Type of interest awarded Basis on which Date of award Face value awarded 1 £000 Percentage receivable for minimum performance Number of shares awarded End of performance period Marc Moses LTI deferred shares 2 % of salary 3 25 February 2019 2,859 25 458,567 31 December 2021 John Flint (stepped down on 5 August 2019) LTI deferred shares 2 % of salary 3 25 February 2019 4,919 25 788,933 31 December 2021 Ewen Stevenson (appointed 1 January 2019) Deferred shares Replacement award (2018 performance period) 4 28 May 2019 1,509 — 241,988 31 December 2018 Deferred shares Replacement award 5 28 May 2019 561 — 84,397 31 December 2017 Deferred shares Replacement award 6 28 May 2019 851 — 128,045 31 December 2018 Deferred shares Replacement award 7 28 May 2019 2,083 — 313,608 31 December 2019 Deferred shares Replacement award 8 28 May 2019 1,181 — 177,883 31 December 2020 Noel Quinn (appointed 5 August 2019) Deferred shares 9 Annual incentive 25 February 2019 877 — 140,585 31 December 2018 Deferred cash 9 Annual incentive 25 February 2019 684 — N/A 31 December 2018 1 The face value of the award has been computed using HSBC's closing share price of £6.235 taken on 24 February 2019 for Marc Moses, John Flint, Noel Quinn and Ewen Stevenson's 2018 replacement award. Ewen Stevenson's other replacement awards were calculated using a closing share price of £6.643 taken on 30 November 2018. 2 LTI awards are subject to a three -year forward-looking performance period and vest in five equal annual instalments, subject to performance achieved. On vesting, awards will be subject to a one -year retention period. Awards are subject to malus during the vesting period and clawback for a maximum period of 10 years from the date of the award. 3 In line with regulatory requirements, scheme interests awarded during 2019 were not eligible for dividend equivalents. In accordance with the remuneration policy approved by shareholders at the 2016 AGM, the LTI award was determined at 320% of salary for John Flint and 319% of salary for Marc Moses and the number of shares to be granted was determined by taking into account a share price discounted based on HSBC’s expected dividend yield of 5% per annum for the vesting period (i.e. £4.867 ). 4 Deferred award made in lieu of a variable pay award Ewen Stevenson would have otherwise received from The Royal Bank of Scotland Group plc (‘RBS’) for the 2018 performance year. The award was determined based on the pre-grant assessment disclosed by RBS for the performance year 2018 long-term incentive awards. The deferred shares will vest in five equal annual instalments commencing from March 2022 and will be subject to a one -year retention period post vest. Awards will be subject to our malus and clawback policy and any future vesting adjustment that may be applied and disclosed by RBS in their Directors’ remuneration report (or that we have been made aware of by RBS). 5 Deferred award granted in lieu of awards granted by RBS in March 2015 and which were not subject to any further performance conditions at the time of forfeiture by RBS. The deferred shares will vest in March 2020 and will be subject to a six -month retention period. 6 Deferred awards granted in lieu of awards granted by RBS in March 2016 and adjusted for the performance outcome as disclosed in RBS’s Annual Report and Accounts 2018 . The deferred shares will vest in two equal annual instalments in March 2020 and March 2021, and on vesting, the shares will be subject to a six -month retention period. 7 Deferred award granted in lieu of awards granted by RBS in March 20 |
Basis of preparation and sign_2
Basis of preparation and significant accounting policies (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
Corporate Information And Statement Of IFRS Compliance [Abstract] | |
Compliance with International Financial Reporting Standards | Compliance with International Financial Reporting Standards The consolidated financial statements of HSBC and the separate financial statements of HSBC Holdings have been prepared in accordance with International Financial Reporting Standards (‘IFRSs’) as issued by the International Accounting Standards Board (‘IASB’), including interpretations issued by the IFRS Interpretations Committee, and as endorsed by the European Union (‘EU’). Interest Rate Benchmark Reform: Amendments to IFRS 9 and IAS 39 ‘Financial Instruments’, was endorsed in January 2020 and has been early adopted as set out below. Therefore, there were no unendorsed standards effective for the year ended 31 December 2019 affecting these consolidated and separate financial statements, and HSBC’s application of IFRSs results in no differences between IFRSs as issued by the IASB and IFRSs as endorsed by the EU . Standards adopted during the year ended 31 December 2019 IFRS 16 ‘Leases’ On 1 January 2019, we adopted the requirements of IFRS 16 retrospectively. The cumulative effect of initially applying the standard was recognised as an adjustment to the opening balance of retained earnings at that date. Comparatives were not restated. The adoption of the standard increased assets by $5bn and increased financial liabilities by the same amount with no effect on net assets or retained earnings. On adoption of IFRS 16, we recognised lease liabilities in relation to leases that had previously been classified as ‘operating leases’ in accordance with IAS 17 ‘Leases’. These liabilities were recognised in ’other liabilities’ and measured at the present value of the remaining lease payments, discounted at the lessee’s incremental borrowing rate at 1 January 2019. The associated right of use (‘ROU’) assets were recognised in ’other assets’ and measured at the amount equal to the lease liability, adjusted by the amount of any prepaid or accrued lease payments or provisions for onerous leases recognised on the balance sheet at 31 December 2018. In addition, the following practical expedients permitted by the standard were applied: • reliance was placed on previous assessments on whether leases were onerous ; • operating leases with a remaining lease term of less than 12 months at 1 January 2019 were treated as short-term leases; and • initial direct costs were not included in the measurement of ROU assets for leases previously accounted for as operating leases. The differences between IAS 17 and IFRS 16 are summarised in the table below : IAS 17 IFRS 16 Leases were classified as either finance or operating leases. Payments made under operating leases were charged to profit or loss on a straight-line basis over the period of the lease. Leases are recognised as an ROU asset and a corresponding liability at the date at which the leased asset is made available for use. Lease payments are allocated between the liability and finance cost. The finance cost is charged to profit or loss over the lease term so as to produce a constant period rate of interest on the remaining balance of the liability. The ROU asset is depreciated over the shorter of the ROU asset’s useful economic life and the lease term on a straight-line basis. In determining the lease term, we consider all facts and circumstances that create an economic incentive to exercise an extension option or not exercise a termination option over the planning horizon of five years. In general, it is not expected that the discount rate implicit in the lease is available so the lessee’s incremental borrowing rate is used. This is the rate that the lessee would have to pay to borrow the funds necessary to obtain an asset of a similar value in a similar economic environment with similar terms and conditions. The rates are determined for each economic environment in which we operate and for each term by adjusting swap rates with funding spreads (own credit spread) and cross-currency basis where appropriate. Interest Rate Benchmark Reform: Amendments to IFRS 9 and IAS 39 ‘Financial Instruments’ Amendments to IFRS 9 and IAS 39 issued in September 2019 modify specific hedge accounting requirements so that entities apply those hedge accounting requirements assuming that the interest rate benchmark on which the hedged cash flows and cash flows of the hedging instrument are based is not altered as a result of interest rate benchmark reform. These amendments replace the need for specific judgements to determine whether certain hedge accounting relationships that hedge the variability of cash flows or interest rate risk exposures for periods after the interest rate benchmarks are expected to be reformed or replaced continue to qualify for hedge accounting as at 31 December 2019. For example, in the context of cash flow hedging, the amendments require the interest rate benchmark on which the hedged cash flows are based, or on which the cash flows of the hedging instrument are based, to be assumed to be unaltered over the period of the documented hedge relationship, while uncertainty over the interest rate benchmark reform exists. The IASB is expected to provide further guidance on the implication for hedge accounting during the reform process and after the reform uncertainty is resolved. These amendments apply from 1 January 2020 with early adoption permitted. HSBC has adopted the amendments that apply to IAS 39 from 1 January 2019 and has made the additional disclosures as required by the amendments. Further information is included in Note 15 . Amendment to IAS 12 ‘Income Taxes’ and other changes An amendment to IAS 12 was issued in December 2017 as part of the annual improvement cycle. The amendment clarifies that an entity should recognise the tax consequences of dividends where the transactions or events that generated the distributable profits are recognised. This amendment was applied on 1 January 2019 and had no material impact. Comparatives have not been restated. In addition, HSBC has adopted a number of interpretations and amendments to standards, which have had an insignificant effect on the consolidated financial statements of HSBC and the separate financial statements of HSBC Holdings. In 2018, HSBC adopted IFRS 9 and made voluntary presentation changes, including to certain financial liabilities, which contain both deposit and derivative components, and to cash collateral, margin and settlement accounts. The impact of this is included in the HSBC Holdings statement of changes in equity for that year end and 2017 comparatives were not restated. |
Differences between IFRSs and Hong Kong Financial Reporting Standards | Differences between IFRSs and Hong Kong Financial Reporting Standards There are no significant differences between IFRSs and Hong Kong Financial Reporting Standards in terms of their application to HSBC, and consequently there would be no significant differences had the financial statements been prepared in accordance with Hong Kong Financial Reporting Standards. The ‘Notes on the financial statements’, taken together with the ‘Report of the Directors’, include the aggregate of all disclosures necessary to satisfy IFRSs and Hong Kong reporting requirements. |
Future accounting developments | Future accounting developments Minor amendments to IFRSs The IASB has published a number of minor amendments to IFRSs that are effective from 1 January 2020, some of which have been endorsed for use in the EU. HSBC expects they will have an insignificant effect, when adopted, on the consolidated financial statements of HSBC and the separate financial statements of HSBC Holdings. Major new IFRSs IFRS 17 ‘Insurance Contracts’ IFRS 17 ‘Insurance Contracts’ was issued in May 2017 and sets out the requirements that an entity should apply in accounting for insurance contracts it issues and reinsurance contracts it holds. IFRS 17 is currently effective from 1 January 2021. However, the IASB is considering delaying the mandatory implementation date by one year and may make additional changes to the standard. The Group is in the process of implementing IFRS 17. Industry practice and interpretation of the standard are still developing and there may be changes to it. Therefore the likely impact of its implementation remains uncertain. |
Foreign currencies | Foreign currencies HSBC’s consolidated financial statements are presented in US dollars because the US dollar and currencies linked to it form the major currency bloc in which HSBC transacts and funds its business. The US dollar is also HSBC Holdings’ functional currency because the US dollar and currencies linked to it are the most significant currencies relevant to the underlying transactions, events and conditions of its subsidiaries, as well as representing a significant proportion of its funds generated from financing activities. Transactions in foreign currencies are recorded at the rate of exchange on the date of the transaction. Assets and liabilities denominated in foreign currencies are translated at the rate of exchange at the balance sheet date, except non-monetary assets and liabilities measured at historical cost, which are translated using the rate of exchange at the initial transaction date. Exchange differences are included in other comprehensive income or in the income statement depending on where the gain or loss on the underlying item is recognised. In the consolidated financial statements, the assets, liabilities and results of foreign operations, whose functional currency is not US dollars, are translated into the Group’s presentation currency at the reporting date. Exchange differences arising are recognised in other comprehensive income. On disposal of a foreign operation, exchange differences previously recognised in other comprehensive income are reclassified to the income statement. |
Critical accounting estimates and judgements | Critical accounting estimates and judgements The preparation of financial information requires the use of estimates and judgements about future conditions. In view of the inherent uncertainties and the high level of subjectivity involved in the recognition or measurement of items, highlighted as the ‘critical accounting estimates and judgements’ in section 1.2 below, it is possible that the outcomes in the next financial year could differ from those on which management’s estimates are based. This could result in materially different estimates and judgements from those reached by management for the purposes of these financial statements. Management’s selection of HSBC’s accounting policies that contain critical estimates and judgements reflects the materiality of the items to which the policies are applied and the high degree of judgement and estimation uncertainty involved. |
Segmental analysis | Segmental analysis HSBC’s Chief Operating Decision Maker is the Group Chief Executive, who is supported by the rest of the Group Management Board (‘GMB’), which operates as a general management committee under the direct authority of the Board. Operating segments are reported in a manner consistent with the internal reporting provided to the Group Chief Executive and the GMB. Measurement of segmental assets, liabilities, income and expenses is in accordance with the Group’s accounting policies. Segmental income and expenses include transfers between segments, and these transfers are conducted at arm’s length. Shared costs are included in segments on the basis of the actual recharges made. |
Going concern | Going concern The financial statements are prepared on a going concern basis, as the Directors are satisfied that the Group and parent company have the resources to continue in business for the foreseeable future. In making this assessment, the Directors have considered a wide range of information relating to present and future conditions, including future projections of profitability, cash flows and capital resources. |
Investments in subsidiaries | Investments in subsidiaries Where an entity is governed by voting rights, HSBC consolidates when it holds – directly or indirectly – the necessary voting rights to pass resolutions by the governing body. In all other cases, the assessment of control is more complex and requires judgement of other factors, including having exposure to variability of returns, power to direct relevant activities, and whether power is held as agent or principal. Business combinations are accounted for using the acquisition method. The amount of non-controlling interest is measured either at fair value or at the non-controlling interest’s proportionate share of the acquiree’s identifiable net assets. This election is made for each business combination. HSBC Holdings’ investments in subsidiaries are stated at cost less impairment losses. |
Goodwill | Goodwill Goodwill is allocated to cash-generating units (‘CGUs’) for the purpose of impairment testing, which is undertaken at the lowest level at which goodwill is monitored for internal management purposes. HSBC’s CGUs are based on geographical regions subdivided by global business, except for Global Banking and Markets, for which goodwill is monitored on a global basis. Impairment testing is performed at least once a year, or whenever there is an indication of impairment, by comparing the recoverable amount of a CGU with its carrying amount. Goodwill is included in a disposal group if the disposal group is a CGU to which goodwill has been allocated or it is an operation within such a CGU. The amount of goodwill included in a disposal group is measured on the basis of the relative values of the operation disposed of and the portion of the CGU retained. Critical accounting estimates and judgements The review of goodwill for impairment reflects management’s best estimate of the future cash flows of the CGUs and the rates used to discount these cash flows, both of which are subject to uncertain factors as follows: Judgements Estimates • The accuracy of forecast cash flows is subject to a high degree of uncertainty in volatile market conditions. Where such circumstances are determined to exist, management re-tests goodwill for impairment more frequently than once a year when indicators of impairment exist. This ensures that the assumptions on which the cash flow forecasts are based continue to reflect current market conditions and management’s best estimate of future business prospects • The future cash flows of the CGUs are sensitive to the cash flows projected for the periods for which detailed forecasts are available and to assumptions regarding the long-term pattern of sustainable cash flows thereafter. Forecasts are compared with actual performance and verifiable economic data, but they reflect management’s view of future business prospects at the time of the assessment • The rates used to discount future expected cash flows can have a significant effect on their valuation, and are based on the costs of capital assigned to individual CGUs. The cost of capital percentage is generally derived from a capital asset pricing model, which incorporates inputs reflecting a number of financial and economic variables, including the risk-free interest rate in the country concerned and a premium for the risk of the business being evaluated. These variables are subject to fluctuations in external market rates and economic conditions beyond management’s control • Key assumptions used in estimating goodwill impairment are described in Note 21 |
HSBC sponsored structured entities | HSBC sponsored structured entities HSBC is considered to sponsor another entity if, in addition to ongoing involvement with the entity, it had a key role in establishing that entity or in bringing together relevant counterparties so the transaction that is the purpose of the entity could occur. HSBC is generally not considered a sponsor if the only involvement with the entity is merely administrative. |
Interests in associates and joint arrangements | Interests in associates and joint arrangements Joint arrangements are investments in which HSBC, together with one or more parties, has joint control. Depending on HSBC’s rights and obligations, the joint arrangement is classified as either a joint operation or a joint venture. HSBC classifies investments in entities over which it has significant influence, and that are neither subsidiaries nor joint arrangements, as associates. HSBC recognises its share of the assets, liabilities and results in a joint operation. Investments in associates and interests in joint ventures are recognised using the equity method. The attributable share of the results and reserves of joint ventures and associates is included in the consolidated financial statements of HSBC based on either financial statements made up to 31 December or pro-rated amounts adjusted for any material transactions or events occurring between the date the financial statements are available and Investments in associates and joint ventures are assessed at each reporting date and tested for impairment when there is an indication that the investment may be impaired. Goodwill on acquisitions of interests in joint ventures and associates is not tested separately for impairment, but is assessed as part of the carrying amount of the investment. Critical accounting estimates and judgements The most significant critical accounting judgements and estimates relate to the assessment of impairment of our investment in Bank of Communications Co. Limited (‘BoCom’), which involves estimations of value in use: Judgements Estimates • Management’s best estimate of BoCom’s earnings are based on management’s explicit forecasts over the short to medium term and the capital maintenance charge, which is management’s forecast of the earnings that need to be withheld in order for BoCom to meet regulatory requirements over the forecast period, both of which are subject to uncertain factors • Key assumptions used in estimating BoCom’s value in use, the sensitivity of the value in use calculations to different assumptions and a sensitivity analysis that shows the changes in key assumptions that would reduce the excess of value in use over the carrying amount (the ‘headroom’) to nil are described in Note 18 |
Interest income and expense | Interest income and expense Interest income and expense for all financial instruments, excluding those classified as held for trading or designated at fair value, are recognised in ‘Interest income’ and ‘Interest expense’ in the income statement using the effective interest method. However, as an exception to this, interest on debt instruments issued by HSBC for funding purposes that are designated under the fair value option to reduce an accounting mismatch and on derivatives managed in conjunction with those debt instruments is included in interest expense. Interest on credit-impaired financial assets is recognised using the rate of interest used to discount the future cash flows for the purpose of measuring the impairment loss. |
Non-interest income and expense | Non-interest income and expense HSBC generates fee income from services provided at a fixed price over time, such as account service and card fees, or when HSBC delivers a specific transaction at a point in time, such as broking services and import/export services. With the exception of certain fund management and performance fees, all other fees are generated at a fixed price. Fund management and performance fees can be variable depending on the size of the customer portfolio and HSBC’s performance as fund manager. Variable fees are recognised when all uncertainties are resolved. Fee income is generally earned from short-term contracts with payment terms that do not include a significant financing component. HSBC acts as principal in the majority of contracts with customers, with the exception of broking services. For most brokerage trades, HSBC acts as agent in the transaction and recognises broking income net of fees payable to other parties in the arrangement. HSBC recognises fees earned on transaction-based arrangements at a point in time when it has fully provided the service to the customer. Where the contract requires services to be provided over time, income is recognised on a systematic basis over the life of the agreement. Where HSBC offers a package of services that contains multiple non-distinct performance obligations, such as those included in account service packages, the promised services are treated as a single performance obligation. If a package of services contains distinct performance obligations, such as those including both account and insurance services, the corresponding transaction price is allocated to each performance obligation based on the estimated stand-alone selling prices. Dividend income is recognised when the right to receive payment is established. This is the ex-dividend date for listed equity securities, and usually the date when shareholders approve the dividend for unlisted equity securities. Net income/(expense) from financial instruments measured at fair value through profit or loss includes the following: • ‘Net income from financial instruments held for trading or managed on a fair value basis’: This comprises net trading income, which includes all gains and losses from changes in the fair value of financial assets and financial liabilities held for trading and other financial instruments managed on a fair value basis, together with the related interest income, expense and dividends, excluding the effect of changes in the credit risk of liabilities managed on a fair value basis. It also includes all gains and losses from changes in the fair value of derivatives that are managed in conjunction with financial assets and liabilities measured at fair value through profit or loss. • ‘Net income/(expense) from assets and liabilities of insurance businesses, including related derivatives, measured at fair value through profit or loss’: This includes interest income, interest expense and dividend income in respect of financial assets and liabilities measured at fair value through profit or loss; and those derivatives managed in conjunction with the above that can be separately identifiable from other trading derivatives. • ‘Changes in fair value of designated debt instruments and related derivatives’: Interest paid on debt instruments and interest cash flows on related derivatives is presented in interest expense where doing so reduces an accounting mismatch. • ‘Changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss’: This includes interest on instruments that fail the solely payments of principal and interest test, see (d) below. The accounting policies for insurance premium income are disclosed in Note 1.2(j). |
Valuation of financial instruments | Valuation of financial instruments All financial instruments are initially recognised at fair value. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value of a financial instrument on initial recognition is generally its transaction price (that is, the fair value of the consideration given or received). However, if there is a difference between the transaction price and the fair value of financial instruments whose fair value is based on a quoted price in an active market or a valuation technique that uses only data from observable markets, HSBC recognises the difference as a trading gain or loss at inception (a ‘day 1 gain or loss’). In all other cases, the entire day 1 gain or loss is deferred and recognised in the income statement over the life of the transaction until the transaction matures, is closed out, the valuation inputs become observable or HSBC enters into an offsetting transaction. The fair value of financial instruments is generally measured on an individual basis. However, in cases where HSBC manages a group of financial assets and liabilities according to its net market or credit risk exposure, the fair value of the group of financial instruments is measured on a net basis but the underlying financial assets and liabilities are presented separately in the financial statements, unless they satisfy the IFRS offsetting criteria. Critical accounting estimates and judgements The majority of valuation techniques employ only observable market data. However, certain financial instruments are classified on the basis of valuation techniques that feature one or more significant market inputs that are unobservable, and for them, the measurement of fair value is more judgemental: Judgements Estimates • An instrument in its entirety is classified as valued using significant unobservable inputs if, in the opinion of management, a significant proportion of the instrument’s inception profit or greater than 5% of the instrument’s valuation is driven by unobservable inputs • ‘Unobservable’ in this context means that there is little or no current market data available from which to determine the price at which an arm’s length transaction would be likely to occur. It generally does not mean that there is no data available at all upon which to base a determination of fair value (consensus pricing data may, for example, be used) • Details on the Group’s level 3 financial instruments and the sensitivity of their valuation to the effect of applying reasonable possible alternative assumptions in determining their fair value are set out in Note 12 Valuation Fair value is an estimate of the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. It does not reflect the economic benefits and costs that HSBC expects to flow from an instrument’s cash flow over its expected future life. Our valuation methodologies and assumptions in determining fair values for which no observable market prices are available may differ from those of other companies. Loans and advances to banks and customers To determine the fair value of loans and advances to banks and customers, loans are segregated, as far as possible, into portfolios of similar characteristics. Fair values are based on observable market transactions, when available. When they are unavailable, fair values are estimated using valuation models incorporating a range of input assumptions. These assumptions may include: value estimates from third-party brokers reflecting over-the-counter trading activity; forward-looking discounted cash flow models, taking account of expected customer prepayment rates, using assumptions that HSBC believes are consistent with those that would be used by market participants in valuing such loans; new business rates estimates for similar loans; and trading inputs from other market participants including observed primary and secondary trades. From time to time, we may engage a third-party valuation specialist to measure the fair value of a pool of loans. The fair value of loans reflects expected credit losses at the balance sheet date and estimates of market participants’ expectations of credit losses over the life of the loans, and the fair value effect of repricing between origination and the balance sheet date. For credit-impaired loans, fair value is estimated by discounting the future cash flows over the time period they are expected to be recovered. Financial investments The fair values of listed financial investments are determined using bid market prices. The fair values of unlisted financial investments are determined using valuation techniques that incorporate the prices and future earnings streams of equivalent quoted securities. Deposits by banks and customer accounts The fair values of on-demand deposits are approximated by their carrying value. For deposits with longer-term maturities, fair values are estimated using discounted cash flows, applying current rates offered for deposits of similar remaining maturities. Debt securities in issue and subordinated liabilities Fair values in debt securities in issue and subordinated liabilities are determined using quoted market prices at the balance sheet date where available, or by reference to quoted market prices for similar instruments. Repurchase and reverse repurchase agreements – non-trading Fair values of repurchase and reverse repurchase agreements that are held on a non-trading basis provide approximate carrying amounts. This is due to the fact that balances are generally short dated. |
Financial instruments measured at amortised cost | Financial instruments measured at amortised cost Financial assets that are held to collect the contractual cash flows and which contain contractual terms that give rise on specified dates to cash flows that are solely payments of principal and interest are measured at amortised cost. Such financial assets include most loans and advances to banks and customers and some debt securities. In addition, most financial liabilities are measured at amortised cost. HSBC accounts for regular way amortised cost financial instruments using trade date accounting. The carrying value of these financial assets at initial recognition includes any directly attributable transactions costs. If the initial fair value is lower than the cash amount advanced, such as in the case of some leveraged finance and syndicated lending activities, the difference is deferred and recognised over the life of the loan through the recognition of interest income. HSBC may commit to underwriting loans on fixed contractual terms for specified periods of time. When the loan arising from the lending commitment is expected to be held for trading, the commitment to lend is recorded as a derivative. When HSBC intends to hold the loan, the loan commitment is included in the impairment calculations set out below. Non-trading reverse repurchase, repurchase and similar agreements When debt securities are sold subject to a commitment to repurchase them at a predetermined price (‘repos’), they remain on the balance sheet and a liability is recorded in respect of the consideration received. Securities purchased under commitments to resell (‘reverse repos’) are not recognised on the balance sheet and an asset is recorded in respect of the initial consideration paid. Non-trading repos and reverse repos are measured at amortised cost. The difference between the sale and repurchase price or between the purchase and resale price is treated as interest and recognised in net interest income over the life of the agreement. Contracts that are economically equivalent to reverse repo or repo agreements (such as sales or purchases of debt securities entered into together with total return swaps with the same counterparty) are accounted for similarly to, and presented together with, reverse repo or repo agreements. |
Financial assets measured at fair value through other comprehensive income | Equity securities measured at fair value with fair value movements presented in other comprehensive income The equity securities for which fair value movements are shown in other comprehensive income are business facilitation and other similar investments where HSBC holds the investments other than to generate a capital return. Gains or losses on the derecognition of these equity securities are not transferred to profit or loss. Otherwise, equity securities are measured at fair value through profit or loss (except for dividend income, which is recognised in profit or loss). Financial assets measured at fair value through other comprehensive income Financial assets held for a business model that is achieved by both collecting contractual cash flows and selling and which contain contractual terms that give rise on specified dates to cash flows that are solely payments of principal and interest are measured at fair value through other comprehensive income (‘FVOCI’). These comprise primarily debt securities. They are recognised on the trade date when HSBC enters into contractual arrangements to purchase and are normally derecognised when they are either sold or redeemed. They are subsequently remeasured at fair value and changes therein (except for those relating to impairment, interest income and foreign currency exchange gains and losses) are recognised in other comprehensive income until the assets are sold. Upon disposal, the cumulative gains or losses in other comprehensive income are recognised in the income statement as ‘Gains less losses from financial instruments’. Financial assets measured at FVOCI are included in the impairment calculations set out below and impairment is recognised in profit or loss. |
Financial instruments designated at fair value through profit or loss | Financial instruments designated at fair value through profit or loss Financial instruments, other than those held for trading, are classified in this category if they meet one or more of the criteria set out below and are so designated irrevocably at inception: • the use of the designation removes or significantly reduces an accounting mismatch; • a group of financial assets and liabilities or a group of financial liabilities is managed and its performance is evaluated on a fair value basis, in accordance with a documented risk management or investment strategy; and • the financial liability contains one or more non-closely related embedded derivatives. Designated financial assets are recognised when HSBC enters into contracts with counterparties, which is generally on trade date, and are normally derecognised when the rights to the cash flows expire or are transferred. Designated financial liabilities are recognised when HSBC enters into contracts with counterparties, which is generally on settlement date, and are normally derecognised when extinguished. Subsequent changes in fair values are recognised in the income statement in ‘Net income from financial instruments held for trading or managed on a fair value basis’ or ‘Net income/(expense) from assets and liabilities of insurance businesses, including related derivatives, measured at fair value through profit or loss’ except for the effect of changes in the liabilities’ credit risk, which is presented in ‘Other comprehensive income’, unless that treatment would create or enlarge an accounting mismatch in profit or loss. Under the above criterion, the main classes of financial instruments designated by HSBC are: • Debt instruments for funding purposes that are designated to reduce an accounting mismatch: The interest and/or foreign exchange exposure on certain fixed-rate debt securities issued has been matched with the interest and/or foreign exchange exposure on certain swaps as part of a documented risk management strategy. • Financial assets and financial liabilities under unit-linked and non-linked investment contracts: A contract under which HSBC does not accept significant insurance risk from another party is not classified as an insurance contract, other than investment contracts with discretionary participation features (‘DPF’), but is accounted for as a financial liability. Customer liabilities under linked and certain non-linked investment contracts issued by insurance subsidiaries are determined based on the fair value of the assets held in the linked funds. If no fair value designation was made for the related assets, at least some of the assets would otherwise be measured at either fair value through other comprehensive income or amortised cost. The related financial assets and liabilities are managed and reported to management on a fair value basis. Designation at fair value of the financial assets and related liabilities allows changes in fair values to be recorded in the income statement and presented in the same line. • Financial liabilities that contain both deposit and derivative components: These financial liabilities are managed and their performance evaluated on a fair value basis. |
Derivatives | Derivatives Derivatives are financial instruments that derive their value from the price of underlying items such as equities, interest rates or other indices. Derivatives are recognised initially and are subsequently measured at fair value through profit or loss. Derivatives are classified as assets when their fair value is positive or as liabilities when their fair value is negative. This includes embedded derivatives in financial liabilities, which are bifurcated from the host contract when they meet the definition of a derivative on a stand-alone basis. Where the derivatives are managed with debt securities issued by HSBC that are designated at fair value, the contractual interest is shown in ‘Interest expense’ together with the interest payable on the issued debt. Hedge accounting When derivatives are not part of fair value designated relationships, if held for risk management purposes they are designated in hedge accounting relationships where the required criteria for documentation and hedge effectiveness are met. HSBC uses these derivatives or, where allowed, other non-derivative hedging instruments in fair value hedges, cash flow hedges or hedges of net investments in foreign operations as appropriate to the risk being hedged. Fair value hedge Fair value hedge accounting does not change the recording of gains and losses on derivatives and other hedging instruments, but results in recognising changes in the fair value of the hedged assets or liabilities attributable to the hedged risk that would not otherwise be recognised in the income statement. If a hedge relationship no longer meets the criteria for hedge accounting, hedge accounting is discontinued and the cumulative adjustment to the carrying amount of the hedged item is amortised to the income statement on a recalculated effective interest rate, unless the hedged item has been derecognised, in which case it is recognised in the income statement immediately. Cash flow hedge The effective portion of gains and losses on hedging instruments is recognised in other comprehensive income and the ineffective portion of the change in fair value of derivative hedging instruments that are part of a cash flow hedge relationship is recognised immediately in the income statement within ‘Net income from financial instruments held for trading or managed on a fair value basis ’ . The accumulated gains and losses recognised in other comprehensive income are reclassified to the income statement in the same periods in which the hedged item affects profit or loss. When a hedge relationship is discontinued, or partially discontinued, any cumulative gain or loss recognised in other comprehensive income remains in equity until the forecast transaction is recognised in the income statement. When a forecast transaction is no longer expected to occur, the cumulative gain or loss previously recognised in other comprehensive income is immediately reclassified to the income statement. Net investment hedge Hedges of net investments in foreign operations are accounted for in a similar way to cash flow hedges. The effective portion of gains and losses on the hedging instrument is recognised in other comprehensive income and other gains and losses are recognised immediately in the income statement. Gains and losses previously recognised in other comprehensive income are reclassified to the income statement on the disposal, or part disposal, of the foreign operation. Derivatives that do not qualify for hedge accounting Non-qualifying hedges are derivatives entered into as economic hedges of assets and liabilities for which hedge accounting was not applied. |
Impairment of amortised cost and FVOCI financial assets | Impairment of amortised cost and FVOCI financial assets Expected credit losses (‘ECL’) are recognised for loans and advances to banks and customers, non-trading reverse repurchase agreements, other financial assets held at amortised cost, debt instruments measured at FVOCI, and certain loan commitments and financial guarantee contracts. At initial recognition, allowance (or provision in the case of some loan commitments and financial guarantees) is required for ECL resulting from default events that are possible within the next 12 months, or less, where the remaining life is less than 12 months (’12-month ECL’). In the event of a significant increase in credit risk, allowance (or provision) is required for ECL resulting from all possible default events over the expected life of the financial instrument (‘lifetime ECL’). Financial assets where 12-month ECL is recognised are considered to be ‘stage 1’; financial assets that are considered to have experienced a significant increase in credit risk are in ‘stage 2’; and financial assets for which there is objective evidence of impairment so are considered to be in default or otherwise credit impaired are in ‘stage 3’. Purchased or originated credit-impaired financial assets (‘POCI’) are treated differently, as set out below. Credit impaired (stage 3) HSBC determines that a financial instrument is credit impaired and in stage 3 by considering relevant objective evidence, primarily whether: • contractual payments of either principal or interest are past due for more than 90 days; • there are other indications that the borrower is unlikely to pay, such as when a concession has been granted to the borrower for economic or legal reasons relating to the borrower’s financial condition; and • the loan is otherwise considered to be in default. If such unlikeliness to pay is not identified at an earlier stage, it is deemed to occur when an exposure is 90 days past due, even where regulatory rules permit default to be defined based on 180 days past due. Therefore, the definitions of credit impaired and default are aligned as far as possible so that stage 3 represents all loans that are considered defaulted or otherwise credit impaired. Interest income is recognised by applying the effective interest rate to the amortised cost amount, i.e. gross carrying amount less ECL allowance. Write-off Financial assets (and the related impairment allowances) are normally written off, either partially or in full, when there is no realistic prospect of recovery. Where loans are secured, this is generally after receipt of any proceeds from the realisation of security. In circumstances where the net realisable value of any collateral has been determined and there is no reasonable expectation of further recovery, write-off may be earlier. Renegotiation Loans are identified as renegotiated and classified as credit impaired when we modify the contractual payment terms due to significant credit distress of the borrower. Renegotiated loans remain classified as credit impaired until there is sufficient evidence to demonstrate a significant reduction in the risk of non-payment of future cash flows and retain the designation of renegotiated until maturity or derecognition. A loan that is renegotiated is derecognised if the existing agreement is cancelled and a new agreement is made on substantially different terms, or if the terms of an existing agreement are modified such that the renegotiated loan is a substantially different financial instrument. Any new loans that arise following derecognition events in these circumstances are considered to be POCI and will continue to be disclosed as renegotiated loans. Other than originated credit-impaired loans, all other modified loans could be transferred out of stage 3 if they no longer exhibit any evidence of being credit impaired and, in the case of renegotiated loans, there is sufficient evidence to demonstrate a significant reduction in the risk of non-payment of future cash flows over the minimum observation period, and there are no other indicators of impairment. These loans could be transferred to stage 1 or 2 based on the mechanism as described below by comparing the risk of a default occurring at the reporting date (based on the modified contractual terms) and the risk of a default occurring at initial recognition (based on the original, unmodified contractual terms). Any amount written off as a result of the modification of contractual terms would not be reversed. Loan modifications that are not credit impaired Loan modifications that are not identified as renegotiated are considered to be commercial restructuring. Where a commercial restructuring results in a modification (whether legalised through an amendment to the existing terms or the issuance of a new loan contract) such that HSBC’s rights to the cash flows under the original contract have expired, the old loan is derecognised and the new loan is recognised at fair value. The rights to cash flows are generally considered to have expired if the commercial restructure is at market rates and no payment-related concession has been provided. Significant increase in credit risk (stage 2) An assessment of whether credit risk has increased significantly since initial recognition is performed at each reporting period by considering the change in the risk of default occurring over the remaining life of the financial instrument. The assessment explicitly or implicitly compares the risk of default occurring at the reporting date compared with that at initial recognition, taking into account reasonable and supportable information, including information about past events, current conditions and future economic conditions. The assessment is unbiased, probability-weighted, and to the extent relevant, uses forward-looking information consistent with that used in the measurement of ECL. The analysis of credit risk is multifactor. The determination of whether a specific factor is relevant and its weight compared with other factors depends on the type of product, the characteristics of the financial instrument and the borrower, and the geographical region. Therefore, it is not possible to provide a single set of criteria that will determine what is considered to be a significant increase in credit risk, and these criteria will differ for different types of lending, particularly between retail and wholesale. However, unless identified at an earlier stage, all financial assets are deemed to have suffered a significant increase in credit risk when 30 days past due. In addition, wholesale loans that are individually assessed, which are typically corporate and commercial customers, and included on a watch or worry list, are included in stage 2. For wholesale portfolios, the quantitative comparison assesses default risk using a lifetime probability of default (‘PD’), which encompasses a wide range of information including the obligor’s customer risk rating (‘CRR’), macroeconomic condition forecasts and credit transition probabilities. For origination CRRs up to 3.3, significant increase in credit risk is measured by comparing the average PD for the remaining term estimated at origination with the equivalent estimation at the reporting date. The quantitative measure of significance varies depending on the credit quality at origination as follows: Origination CRR Significance trigger – PD to increase by 0.1–1.2 15bps 2.1–3.3 30bps For CRRs greater than 3.3 that are not impaired, a significant increase in credit risk is considered to have occurred when the origination PD has doubled. The significance of changes in PD was informed by expert credit risk judgement, referenced to historical credit migrations and to relative changes in external market rates. For loans originated prior to the implementation of IFRS 9, the origination PD does not include adjustments to reflect expectations of future macroeconomic conditions since these are not available without the use of hindsight. In the absence of this data, origination PD must be approximated assuming through-the-cycle (‘TTC’) PDs and TTC migration probabilities, consistent with the instrument’s underlying modelling approach and the CRR at origination. For these loans, the quantitative comparison is supplemented with additional CRR deterioration-based thresholds, as set out in the table below: Origination CRR Additional significance criteria – number of CRR grade notches deterioration required to identify as significant credit deterioration (stage 2) (> or equal to) 0.1 5 notches 1.1–4.2 4 notches 4.3–5.1 3 notches 5.2–7.1 2 notches 7.2–8.2 1 notch 8.3 0 notch Further information about the 23-grade scale used for CRR can be found on page 121 . For certain portfolios of debt securities where external market ratings are available and credit ratings are not used in credit risk management, the debt securities will be in stage 2 if their credit risk increases to the extent they are no longer considered investment grade. Investment grade is where the financial instrument has a low risk of incurring losses, the structure has a strong capacity to meet its contractual cash flow obligations in the near term, and adverse changes in economic and business conditions in the longer term may, but will not necessarily, reduce the ability of the borrower to fulfil their contractual cash flow obligations. For retail portfolios, default risk is assessed using a reporting date 12-month PD derived from credit scores, which incorporates all available information about the customer. This PD is adjusted for the effect of macroeconomic forecasts for periods longer than 12 months and is considered to be a reasonable approximation of a lifetime PD measure. Retail exposures are first segmented into homogeneous portfolios, generally by country, product and brand. Within each portfolio, the stage 2 accounts are defined as accounts with an adjusted 12-month PD greater than the average 12-month PD of loans in that portfolio 12 months before they become 30 days past due. The expert credit risk judgement is that no prior increase in credit risk is significant. This portfolio-specific threshold identifies loans with a PD higher than would be expected from loans that are performing as originally expected, and higher than what would have been acceptable at origination. It therefore approximates a comparison of origination to reporting date PDs. Unimpaired and without significant increase in credit risk (stage 1) ECL resulting from default events that are possible within the next 12 months (‘12-month ECL’) are recognised for financial instruments that remain in stage 1. Purchased or originated credit impaired Financial assets that are purchased or originated at a deep discount that reflects the incurred credit losses are considered to be POCI. This population includes the recognition of a new financial instrument following a renegotiation where concessions have been granted for economic or contractual reasons relating to the borrower’s financial difficulty that otherwise would not have been considered. The amount of change-in-lifetime ECL is recognised in profit or loss until the POCI is derecognised, even if the lifetime ECL are less than the amount of ECL included in the estimated cash flows on initial recognition. Movement between stages Financial assets can be transferred between the different categories (other than POCI) depending on their relative increase in credit risk since initial recognition. Financial instruments are transferred out of stage 2 if their credit risk is no longer considered to be significantly increased since initial recognition based on the assessments described above. Except for renegotiated loans, financial instruments are transferred out of stage 3 when they no longer exhibit any evidence of credit impairment as described above. Renegotiated loans that are not POCI will continue to be in stage 3 until there is sufficient evidence to demonstrate a significant reduction in the risk of non-payment of future cash flows, observed over a minimum one-year period and there are no other indicators of impairment. For loans that are assessed for impairment on a portfolio basis, the evidence typically comprises a history of payment performance against the original or revised terms, as appropriate to the circumstances. For loans that are assessed for impairment on an individual basis, all available evidence is assessed on a case-by-case basis. Measurement of ECL The assessment of credit risk and the estimation of ECL are unbiased and probability-weighted, and incorporate all available information that is relevant to the assessment including information about past events, current conditions and reasonable and supportable forecasts of future events and economic conditions at the reporting date. In addition, the estimation of ECL should take into account the time value of money. In general, HSBC calculates ECL using three main components: a probability of default, a loss given default (’LGD’) and the exposure at default (‘EAD’). The 12-month ECL is calculated by multiplying the 12-month PD, LGD and EAD. Lifetime ECL is calculated using the lifetime PD instead. The 12-month and lifetime PDs represent the probability of default occurring over the next 12 months and the remaining maturity of the instrument respectively. The EAD represents the expected balance at default, taking into account the repayment of principal and interest from the balance sheet date to the default event together with any expected drawdowns of committed facilities. The LGD represents expected losses on the EAD given the event of default, taking into account, among other attributes, the mitigating effect of collateral value at the time it is expected to be realised and the time value of money. HSBC leverages the Basel II IRB framework where possible, with recalibration to meet the differing IFRS 9 requirements as set out in the following table: Model Regulatory capital IFRS 9 PD • Through the cycle (represents long-run average PD throughout a full economic cycle) • The definition of default includes a backstop of 90+ days past due, although this has been modified to 180+ days past due for some portfolios, particularly UK and US mortgages • Point in time (based on current conditions, adjusted to take into account estimates of future conditions that will impact PD) • Default backstop of 90+ days past due for all portfolios EAD • Cannot be lower than current balance • Amortisation captured for term products LGD • Downturn LGD (consistent losses expected to be suffered during a severe but plausible economic downturn) • Regulatory floors may apply to mitigate risk of underestimating downturn LGD due to lack of historical data • Discounted using cost of capital • All collection costs included • Expected LGD (based on estimate of loss given default including the expected impact of future economic conditions such as changes in value of collateral) • No floors • Discounted using the original effective interest rate of the loan • Only costs associated with obtaining/selling collateral included Other • Discounted back from point of default to balance sheet date While 12-month PDs are recalibrated from Basel II models where possible, the lifetime PDs are determined by projecting the 12-month PD using a term structure. For the wholesale methodology, the lifetime PD also takes into account credit migration, i.e. a customer migrating through the CRR bands over its life. The ECL for wholesale stage 3 is determined on an individual basis using a discounted cash flow (‘DCF’) methodology. The expected future cash flows are based on the credit risk officer’s estimates as at the reporting date, reflecting reasonable and supportable assumptions and projections of future recoveries and expected future receipts of interest. Collateral is taken into account if it is likely that the recovery of the outstanding amount will include realisation of collateral based on the estimated fair value of collateral at the time of expected realisation, less costs for obtaining and selling the collateral. The cash flows are discounted at a reasonable approximation of the original effective interest rate. For significant cases, cash flows under four different scenarios are probability-weighted by reference to the economic scenarios applied more generally by the Group and the judgement of the credit risk officer in relation to the likelihood of the workout strategy succeeding or receivership being required. For less significant cases, the effect of different economic scenarios and work-out strategies is approximated and applied as an adjustment to the most likely outcome. Period over which ECL is measured Expected credit loss is measured from the initial recognition of the financial asset. The maximum period considered when measuring ECL (be it 12-month or lifetime ECL) is the maximum contractual period over which HSBC is exposed to credit risk. For wholesale overdrafts, credit risk management actions are taken no less frequently than on an annual basis and therefore this period is to the expected date of the next substantive credit review. The date of the substantive credit review also represents the initial recognition of the new facility. However, where the financial instrument includes both a drawn and undrawn commitment and the contractual ability to demand repayment and cancel the undrawn commitment does not serve to limit HSBC’s exposure to credit risk to the contractual notice period, the contractual period does not determine the maximum period considered. Instead, ECL is measured over the period HSBC remains exposed to credit risk that is not mitigated by credit risk management actions. This applies to retail overdrafts and credit cards, where the period is the average time taken for stage 2 exposures to default or close as performing accounts, determined on a portfolio basis and ranging from between two and six years. In addition, for these facilities it is not possible to identify the ECL on the loan commitment component separately from the financial asset component. As a result, the total ECL is recognised in the loss allowance for the financial asset unless the total ECL exceeds the gross carrying amount of the financial asset, in which case the ECL is recognised as a provision. Forward-looking economic inputs HSBC applies multiple forward-looking global economic scenarios determined with reference to external forecast distributions representative of our view of forecast economic conditions. This approach is considered sufficient to calculate unbiased expected loss in most economic environments. In certain economic environments, additional analysis may be necessary and may result in additional scenarios or adjustments, to reflect a range of possible economic outcomes sufficient for an unbiased estimate. The detailed methodology is disclosed in ‘Measurement uncertainty and sensitivity analysis of ECL estimates’ on page 128 . Critical accounting estimates and judgements The calculation of the Group’s ECL under IFRS 9 requires the Group to make a number of judgements, assumptions and estimates. The most significant are set out below: Judgements Estimates • Defining what is considered to be a significant increase in credit risk • Determining the lifetime and point of initial recognition of overdrafts and credit cards • Selecting and calibrating the PD, LGD and EAD models, which support the calculations, including making reasonable and supportable judgements about how models react to current and future economic conditions • Selecting model inputs and economic forecasts, including determining whether sufficient and appropriately weighted economic forecasts are incorporated to calculate unbiased expected loss • The sections marked as audited on pages 92 to 103, ‘Measurement uncertainty and sensitivity analysis of ECL estimates’ set out the assumptions used in determining ECL and provide an indication of the sensitivity of the result to the application of different weightings being applied to different economic assumptions |
Insurance contracts | Insurance contracts A contract is classified as an insurance contract where HSBC accepts significant insurance risk from another party by agreeing to compensate that party on the occurrence of a specified uncertain future event. An insurance contract may also transfer financial risk, but is accounted for as an insurance contract if the insurance risk is significant. In addition, HSBC issues investment contracts with discretionary participation features (‘DPF‘), which are also accounted for as insurance contracts as required by IFRS 4 ‘Insurance Contracts’. Net insurance premium income Premiums for life insurance contracts are accounted for when receivable, except in unit-linked insurance contracts where premiums are accounted for when liabilities are established. Reinsurance premiums are accounted for in the same accounting period as the premiums for the direct insurance contracts to which they relate. Net insurance claims and benefits paid and movements in liabilities to policyholders Gross insurance claims for life insurance contracts reflect the total cost of claims arising during the year, including claim handling costs and any policyholder bonuses allocated in anticipation of a bonus declaration. Maturity claims are recognised when due for payment. Surrenders are recognised when paid or at an earlier date on which, following notification, the policy ceases to be included within the calculation of the related insurance liabilities. Death claims are recognised when notified. Reinsurance recoveries are accounted for in the same period as the related claim. Liabilities under insurance contracts Liabilities under non-linked life insurance contracts are calculated by each life insurance operation based on local actuarial principles. Liabilities under unit-linked life insurance contracts are at least equivalent to the surrender or transfer value, which is calculated by reference to the value of the relevant underlying funds or indices. Future profit participation on insurance contracts with DPF Where contracts provide discretionary profit participation benefits to policyholders, liabilities for these contracts include provisions for the future discretionary benefits to policyholders. These provisions reflect the actual performance of the investment portfolio to date and management’s expectation of the future performance of the assets backing the contracts, as well as other experience factors such as mortality, lapses and operational efficiency, where appropriate. The benefits to policyholders may be determined by the contractual terms, regulation, or past distribution policy. Investment contracts with DPF While investment contracts with DPF are financial instruments, they continue to be treated as insurance contracts as required by IFRS 4. The Group therefore recognises the premiums for these contracts as revenue and recognises as an expense the resulting increase in the carrying amount of the liability. In the case of net unrealised investment gains on these contracts, whose discretionary benefits principally reflect the actual performance of the investment portfolio, the corresponding increase in the liabilities is recognised in either the income statement or other comprehensive income, following the treatment of the unrealised gains on the relevant assets. In the case of net unrealised losses, a deferred participating asset is recognised only to the extent that its recoverability is highly probable. Movements in the liabilities arising from realised gains and losses on relevant assets are recognised in the income statement. Present value of in-force long-term insurance business HSBC recognises the value placed on insurance contracts and investment contracts with DPF, which are classified as long-term and in-force at the balance sheet date, as an asset. The asset represents the present value of the equity holders’ interest in the issuing insurance companies’ profits expected to emerge from these contracts written at the balance sheet date. The present value of in-force business (‘PVIF’) is determined by discounting those expected future profits using appropriate assumptions in assessing factors such as future mortality, lapse rates and levels of expenses, and a risk discount rate that reflects the risk premium attributable to the respective contracts. The PVIF incorporates allowances for both non-market risk and the value of financial options and guarantees. The PVIF asset is presented gross of attributable tax in the balance sheet and movements in the PVIF asset are included in ‘Other operating income’ on a gross of tax basis. |
Employee compensation and benefits | Employee compensation and benefits Share-based payments HSBC enters into both equity-settled and cash-settled share-based payment arrangements with its employees as compensation for the provision of their services. The vesting period for these schemes may commence before the legal grant date if the employees have started to render services in respect of the award before the legal grant date, where there is a shared understanding of the terms and conditions of the arrangement. Expenses are recognised when the employee starts to render service to which the award relates. Cancellations result from the failure to meet a non-vesting condition during the vesting period, and are treated as an acceleration of vesting recognised immediately in the income statement. Failure to meet a vesting condition by the employee is not treated as a cancellation, and the amount of expense recognised for the award is adjusted to reflect the number of awards expected to vest. Post-employment benefit plans HSBC operates a number of pension schemes including defined benefit, defined contribution and post-employment benefit schemes. Payments to defined contribution schemes are charged as an expense as the employees render service. Defined benefit pension obligations are calculated using the projected unit credit method. The net charge to the income statement mainly comprises the service cost and the net interest on the net defined benefit asset or liability, and is presented in operating expenses. Remeasurements of the net defined benefit asset or liability, which comprise actuarial gains and losses, return on plan assets excluding interest and the effect of the asset ceiling (if any, excluding interest), are recognised immediately in other comprehensive income. The net defined benefit asset or liability represents the present value of defined benefit obligations reduced by the fair value of plan assets, after applying the asset ceiling test, where the net defined benefit surplus is limited to the present value of available refunds and reductions in future contributions to the plan. The cost of obligations arising from other post-employment plans are accounted for on the same basis as defined benefit pension plans. Critical accounting estimates and judgements The most significant critical accounting judgements and estimates relate to the determination of key assumptions applied in calculating the defined benefit pension obligation for the principal plan. Judgements Estimates • A range of assumptions could be applied, and different assumptions could significantly alter the defined benefit obligation and the amounts recognised in profit or loss or OCI. • The calculation of the defined benefit pension obligation includes assumptions with regard to the discount rate, inflation rate, pension payments and deferred pensions, pay and mortality. Management determines these assumptions in consultation with the plan’s actuaries. • Key assumptions used in calculating the defined benefit pension obligation for the principal plan and the sensitivity of the calculation to different assumptions are described in Note 5 |
Tax | Tax Income tax comprises current tax and deferred tax. Income tax is recognised in the income statement except to the extent that it relates to items recognised in other comprehensive income or directly in equity, in which case the tax is recognised in the same statement as the related item appears. Current tax is the tax expected to be payable on the taxable profit for the year and on any adjustment to tax payable in respect of previous years. HSBC provides for potential current tax liabilities that may arise on the basis of the amounts expected to be paid to the tax authorities. Deferred tax is recognised on temporary differences between the carrying amounts of assets and liabilities in the balance sheet, and the amounts attributed to such assets and liabilities for tax purposes. Deferred tax is calculated using the tax rates expected to apply in the periods in which the assets will be realised or the liabilities settled. Current and deferred tax are calculated based on tax rates and laws enacted, or substantively enacted, by the balance sheet date. Critical accounting estimates and judgements The recognition of deferred tax assets depends on judgements Judgements Estimates • Assessing the probability and sufficiency of future taxable profits, future reversals of existing taxable temporary differences and ongoing tax planning strategies • In the absence of a history of taxable profits, assessing the expected future profitability and the applicability of tax planning strategies, including corporate reorganisations |
Provisions | Provisions Provisions are recognised when it is probable that an outflow of economic benefits will be required to settle a present legal or constructive obligation that has arisen as a result of past events and for which a reliable estimate can be made. Critical accounting estimates and judgements The recognition and measurement of provisions requires the Group to make a number of judgements, assumptions and estimates. The most significant are set out below: Judgements Estimates • Determining whether a present obligation exists. Professional advice is taken on the assessment of litigation and similar obligations • Provisions for legal proceedings and regulatory matters typically require a higher degree of judgement than other types of provisions. When matters are at an early stage, accounting judgements can be difficult because of the high degree of uncertainty associated with determining whether a present obligation exists, and estimating the probability and amount of any outflows that may arise. As matters progress, management and legal advisers evaluate on an ongoing basis whether provisions should be recognised, revising previous estimates as appropriate. At more advanced stages, it is typically easier to make estimates around a better defined set of possible outcomes • Provisions for legal proceedings and regulatory matters remain very sensitive to the assumptions used in the estimate. There could be a wider range of possible outcomes for any pending legal proceedings, investigations or inquiries. As a result it is often not practicable to quantify a range of possible outcomes for individual matters. It is also not practicable to meaningfully quantify ranges of potential outcomes in aggregate for these types of provisions because of the diverse nature and circumstances of such matters and the wide range of uncertainties involved • Provisions for customer remediation also require significant levels of estimation. The amounts of provisions recognised depend on a number of different assumptions, such as the volume of inbound complaints, the projected period of inbound complaint volumes, the decay rate of complaint volumes, the populations identified as systemically mis-sold and the number of policies per customer complaint. More information about these assumptions is included in Note 27 |
Contingent liabilities | Contingent liabilities Contingent liabilities, which include certain guarantees and letters of credit pledged as collateral security, and contingent liabilities related to legal proceedings or regulatory matters, are not recognised in the financial statements but are disclosed unless the probability of settlement is remote. |
Financial guarantee contracts | Financial guarantee contracts Liabilities under financial guarantee contracts that are not classified as insurance contracts are recorded initially at their fair value, which is generally the fee received or present value of the fee receivable. HSBC Holdings has issued financial guarantees and similar contracts to other Group entities. HSBC elects to account for certain guarantees as insurance contracts in HSBC Holdings’ financial statements, in which case they are measured and recognised as insurance liabilities. This election is made on a contract-by-contract basis, and is irrevocable. |
Credit-impaired loans | Unsecured personal facilities, including credit cards, are generally written off at between 150 and 210 days past due. The standard period runs until the end of the month in which the account becomes 180 days contractually delinquent. Write-off periods may be extended, generally to no more than 360 days past due. However, in exceptional circumstances, they may be extended further. For secured facilities, write-off should occur upon repossession of collateral, receipt of proceeds via settlement, or determination that recovery of the collateral will not be pursued. Any secured assets maintained on the balance sheet beyond There are exceptions in a few countries and territories where local regulation or legislation constrains earlier write-off, or where the realisation of collateral for secured real estate lending takes more time. In the event of bankruptcy or analogous proceedings, write-off may occur earlier than the maximum periods stated above. Collection procedures may continue after write-off. Credit-impaired loans (Audited) We determine that a financial instrument is credit impaired and in stage 3 by considering relevant objective evidence, primarily whether: • contractual payments of either principal or interest are past due for more than 90 days; • there are other indications that the borrower is unlikely to pay, such as when a concession has been granted to the borrower for economic or legal reasons relating to the borrower’s financial condition; and • the loan is otherwise considered to be in default. If such unlikeliness to pay is not identified at an earlier stage, it is deemed to occur when an exposure is 90 days past due, even where regulatory rules permit default to be defined based on 180 days past due. Therefore, the definitions of credit impaired and default are aligned as far as possible so that stage 3 represents all loans that are considered defaulted or otherwise credit impaired. |
Net fee income (Tables)
Net fee income (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Analysis of income and expense [abstract] | |
Summary of net fee income | Net fee income by global business 2019 Retail Commercial Global Global Private Corporate Centre Total $m $m $m $m $m $m Funds under management 1,295 120 460 302 — 2,177 Account services 890 654 365 101 (7 ) 2,003 Cards 1,602 358 15 — — 1,975 Credit facilities 75 785 743 15 — 1,618 Broking income 366 40 532 119 — 1,057 Unit trusts 921 22 2 90 — 1,035 Underwriting — 6 821 3 (1 ) 829 Remittances 73 362 311 4 (3 ) 747 Global custody 90 18 564 45 — 717 Imports/exports — 497 164 1 — 662 Insurance agency commission 324 20 1 32 — 377 Other 1,097 891 2,362 193 (2,301 ) 2,242 Fee income 6,733 3,773 6,340 905 (2,312 ) 15,439 Less: fee expense (1,861 ) (370 ) (3,287 ) (134 ) 2,236 (3,416 ) Net fee income 4,872 3,403 3,053 771 (76 ) 12,023 2018 2017 Retail Banking and Wealth Commercial Global Global Private Corporate Centre Total Total $m $m $m $m $m $m $m Funds under management 1,383 134 421 284 (1 ) 2,221 2,188 Account services 991 748 332 106 — 2,177 2,244 Cards 1,575 370 16 — (5 ) 1,956 1,994 Credit facilities 71 824 813 16 (1 ) 1,723 1,718 Broking income 494 44 533 139 — 1,210 1,191 Unit trusts 937 25 3 73 — 1,038 1,010 Underwriting 1 10 708 4 — 723 829 Remittances 96 357 320 5 — 778 759 Global custody 100 18 584 35 (1 ) 736 692 Imports/exports 3 532 176 2 (4 ) 709 736 Insurance agency commission 354 23 1 27 (1 ) 404 410 Other 1,110 858 2,362 186 (2,147 ) 2,369 2,082 Fee income 7,115 3,943 6,269 877 (2,160 ) 16,044 15,853 Less: fee expense (1,917 ) (388 ) (3,040 ) (135 ) 2,056 (3,424 ) (3,042 ) Net Fee income 5,198 3,555 3,229 742 (104 ) 12,620 12,811 |
Net income from financial ins_2
Net income from financial instruments measured at fair value through profit and loss (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Analysis of income and expense [abstract] | |
Disclosure of net income from financial instruments measured at fair value through profit and loss | 2019 2018 2017 Footnotes $m $m $m Net income/(expense) arising on: Net trading activities 1 16,121 6,982 8,236 Other instruments managed on a fair value basis 1 (5,890 ) 2,549 190 Net income from financial instruments held for trading or managed on a fair value basis 10,231 9,531 8,426 Financial assets held to meet liabilities under insurance and investment contracts 3,830 (1,585 ) 3,211 Liabilities to customers under investment contracts (352 ) 97 (375 ) Net income/(expense) from assets and liabilities of insurance businesses, including related derivatives, measured at fair value through profit or loss 3,478 (1,488 ) 2,836 Derivatives managed in conjunction with HSBC’s issued debt securities 2,561 (626 ) (343 ) Other changes in fair value (2,471 ) 529 498 Changes in fair value of designated debt and related derivatives 2 90 (97 ) 155 Changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss 812 695 N/A Year ended 31 Dec 14,611 8,641 11,417 1 At 1 January 2018 we changed our accounting policy for financial liabilities that contain both deposit and derivative components. As a result, net income from these instruments is reported in ‘Other instruments managed on a fair value basis’ rather than ‘Trading activities’. Comparative periods have not been re-presented. 2 The debt instruments, issued for funding purposes, are designated under the fair value option to reduce an accounting mismatch. 2019 2018 2017 $m $m $m Net income/(expense) arising on: – trading activities (559 ) (176 ) (392 ) – other instruments managed at on a fair value basis 2,036 421 211 Net income from financial instruments held for trading or managed on a fair value basis 1,477 245 (181 ) – Derivatives managed in conjunction with HSBC Holdings-issued debt securities 764 (337 ) 292 – Other changes in fair value (1,124 ) 260 (189 ) Changes in fair value of designated debt and related derivatives (360 ) (77 ) 103 Changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss 1,659 43 — Year ended 31 Dec 2,776 211 (78 ) |
Insurance business (Tables)
Insurance business (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Insurance Contracts [Abstract] | |
Schedule of net insurance premium income and liabilities under insurance contracts | Net insurance premium income Non-linked insurance Linked life insurance Investment contracts with DPF 1 Total $m $m $m $m Gross insurance premium income 9,353 489 2,266 12,108 Reinsurers’ share of gross insurance premium income (1,465 ) (7 ) — (1,472 ) Year ended 31 Dec 2019 7,888 482 2,266 10,636 Gross insurance premium income 8,616 422 2,300 11,338 Reinsurers’ share of gross insurance premium income (672 ) (7 ) — (679 ) Year ended 31 Dec 2018 7,944 415 2,300 10,659 Gross insurance premium income 8,424 351 2,027 10,802 Reinsurers’ share of gross insurance premium income (1,016 ) (7 ) — (1,023 ) Year ended 31 Dec 2017 7,408 344 2,027 9,779 1 Discretionary participation features. Net insurance claims and benefits paid and movement in liabilities to policyholders Non-linked insurance Linked life insurance Investment contracts with DPF 1 Total $m $m $m $m Gross claims and benefits paid and movement in liabilities 11,305 1,217 3,810 16,332 – claims, benefits and surrenders paid 3,783 900 1,921 6,604 – movement in liabilities 7,522 317 1,889 9,728 Reinsurers’ share of claims and benefits paid and movement in liabilities (1,402 ) (4 ) — (1,406 ) – claims, benefits and surrenders paid (411 ) (17 ) — (428 ) – movement in liabilities (991 ) 13 — (978 ) Year ended 31 Dec 2019 9,903 1,213 3,810 14,926 Gross claims and benefits paid and movement in liabilities 8,943 (446 ) 1,724 10,221 – claims, benefits and surrenders paid 3,852 1,088 1,869 6,809 – movement in liabilities 5,091 (1,534 ) (145 ) 3,412 Reinsurers’ share of claims and benefits paid and movement in liabilities (605 ) 191 — (414 ) – claims, benefits and surrenders paid (311 ) (181 ) — (492 ) – movement in liabilities (294 ) 372 — 78 Year ended 31 Dec 2018 8,338 (255 ) 1,724 9,807 Gross claims and benefits paid and movement in liabilities 8,894 1,413 2,901 13,208 – claims, benefits and surrenders paid 2,883 1,044 2,002 5,929 – movement in liabilities 6,011 369 899 7,279 Reinsurers’ share of claims and benefits paid and movement in liabilities (942 ) 65 — (877 ) – claims, benefits and surrenders paid (297 ) (223 ) — (520 ) – movement in liabilities (645 ) 288 — (357 ) Year ended 31 Dec 2017 7,952 1,478 2,901 12,331 1 Discretionary participation features. Liabilities under insurance contracts Non-linked insurance Linked life insurance Investment contracts with DPF 1 Total Footnotes $m $m $m $m Gross liabilities under insurance contracts at 1 Jan 2019 57,283 5,789 24,258 87,330 Claims and benefits paid (3,804 ) (900 ) (1,900 ) (6,604 ) Increase in liabilities to policyholders 11,326 1,217 3,789 16,332 Exchange differences and other movements 2 519 45 (183 ) 381 Gross liabilities under insurance contracts at 31 Dec 2019 65,324 6,151 25,964 97,439 Reinsurers’ share of liabilities under insurance contracts (3,521 ) (71 ) — (3,592 ) Net liabilities under insurance contracts at 31 Dec 2019 61,803 6,080 25,964 93,847 Gross liabilities under insurance contracts at 1 Jan 2018 52,112 7,548 26,007 85,667 Impact on transition to IFRS 9 (69 ) — — (69 ) Claims and benefits paid (3,852 ) (1,088 ) (1,869 ) (6,809 ) Increase in liabilities to policyholders 8,943 (446 ) 1,724 10,221 Exchange differences and other movements 2 149 (225 ) (1,604 ) (1,680 ) Gross liabilities under insurance contracts at 31 Dec 2018 57,283 5,789 24,258 87,330 Reinsurers’ share of liabilities under insurance contracts (2,438 ) (68 ) — (2,506 ) Net liabilities under insurance contracts at 31 Dec 2018 54,845 5,721 24,258 84,824 1 Discretionary participation features. 2 ‘Exchange differences and other movements’ includes movements in liabilities arising from net unrealised investment gains recognised in other comprehensive income. |
Employee compensation and ben_2
Employee compensation and benefits (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Employee Compensation And Benefits [Abstract] | |
Disclosure of employee compensation and benefits | 2019 2018 2017 $m $m $m Wages and salaries 15,581 14,751 15,227 Social security costs 1,472 1,490 1,419 Post-employment benefits 949 1,132 669 Year ended 31 Dec 18,002 17,373 17,315 |
Disclosure of average number of employees | Average number of persons employed by HSBC during the year by global business Footnotes 2019 2018 2017 Retail Banking and Wealth Management 141,044 135,239 134,021 Commercial Banking 46,416 48,757 46,716 Global Banking and Markets 51,127 48,990 49,100 Global Private Banking 7,099 8,206 7,817 Corporate Centre 1 1,369 1,658 7,134 Year ended 31 Dec 247,055 242,850 244,788 1 The reduction in the average number of people employed was due to the completion of the cost to achieve transformation programme at the end of 2017. Average number of persons employed by HSBC during the year by geographical region 2019 2018 2017 Europe 66,392 67,007 70,301 Asia 133,624 127,992 125,004 Middle East and North Africa 9,798 9,798 10,408 North America 16,615 17,350 18,610 Latin America 20,626 20,703 20,465 Year ended 31 Dec 247,055 242,850 244,788 |
Disclosure of total incentive awards granted to income statement charge | Reconciliation of total incentive awards granted to income statement charge 2019 2018 2017 $m $m $m Total incentive awards approved for the current year 3,341 3,473 3,303 Less: deferred bonuses awarded, expected to be recognised in future periods (337 ) (351 ) (337 ) Total incentives awarded and recognised in the current year 3,004 3,122 2,966 Add: current year charges for deferred bonuses from previous years 327 322 336 Other (55 ) (70 ) (78 ) Income statement charge for incentive awards 3,276 3,374 3,224 |
Explanation of effect of share-based payments on entity's profit or loss | ‘Wages and salaries’ includes the effect of share-based payments arrangements, of which $478m were equity settled (2018: $450m ; 2017: $500m ), as follows: 2019 2018 2017 $m $m $m Conditional share awards 521 499 520 Savings-related and other share award option plans 30 23 26 Year ended 31 Dec 551 522 546 |
Disclosure of terms and conditions of share-based payment arrangement | HSBC share awards Award Policy Deferred share awards (including annual incentive awards, LTI awards delivered in shares) and Group Performance Share Plans (‘GPSP’) • An assessment of performance over the relevant period ending on 31 December is used to determine the amount of the award to be granted. International Employee Share Purchase Plan (‘ShareMatch’) • The plan was first introduced in Hong Kong in 2013 and now includes employees based in 27 jurisdictions. HSBC share option plans Main plans Policy Savings-related share option plans (‘Sharesave’) • From 2014, employees eligible for the UK plan could save up to £500 per month with the option to use the savings to acquire shares. |
Disclosure of number of other equity instruments | Movement on HSBC share awards 2019 2018 Number Number (000s) (000s) Conditional share awards outstanding at 1 Jan 94,897 104,525 Additions during the year 71,858 61,569 Released in the year (67,737 ) (67,899 ) Forfeited in the year (1,963 ) (3,298 ) Conditional share awards outstanding at 31 Dec 97,055 94,897 Weighted average fair value of awards granted ($) 7.89 7.66 |
Disclosure of number and weighted average exercise prices of share options | Movement on HSBC share option plans Savings-related Number WAEP 1 Footnotes (000s) £ Outstanding at 1 Jan 2019 57,065 4.92 Granted during the year 2 32,130 4.69 Exercised during the year 3 (11,806 ) 4.40 Expired during the year (11,321 ) 5.46 Forfeited during the year (1,008 ) 4.99 Outstanding at 31 Dec 2019 65,060 4.81 Of which exercisable 2,149 4.53 Weighted average remaining contractual life (years) 2.77 Outstanding at 1 Jan 2018 64,670 4.49 Granted during the year 2 20,501 5.45 Exercised during the year 3 (23,260 ) 4.14 Expired during the year (3,148 ) 5.20 Forfeited during the year (1,698 ) 4.53 Outstanding at 31 Dec 2018 57,065 4.92 Of which exercisable 3,513 4.09 Weighted average remaining contractual life (years) 2.59 1 Weighted average exercise price. 2 The weighted average fair value of options granted during the year was $1.36 (2018: $1.40 ). 3 The weighted average share price at the date the options were exercised was $7.99 (2018: $8.28 ). |
Disclosure of defined benefit plan expense recognized In profit or loss | Income statement charge 2019 2018 2017 $m $m $m Defined benefit pension plans 176 355 100 Defined contribution pension plans 758 756 603 Pension plans 934 1,111 703 Defined benefit and contribution healthcare plans 15 21 (34 ) Year ended 31 Dec 949 1,132 669 |
Disclosure of net defined benefit liability (asset) | Net assets/(liabilities) recognised on the balance sheet in respect of defined benefit plans Fair value of Present value of defined benefit Effect of Total $m $m $m $m Defined benefit pension plans 47,567 (40,582 ) (16 ) 6,969 Defined benefit healthcare plans 121 (580 ) — (459 ) At 31 Dec 2019 47,688 (41,162 ) (16 ) 6,510 Total employee benefit liabilities (within Note 26 ‘Accruals, deferred income and other liabilities’) (1,771 ) Total employee benefit assets (within Note 22 ‘Prepayments, accrued income and other assets’) 8,280 Defined benefit pension plans 42,799 (36,583 ) (35 ) 6,181 Defined benefit healthcare plans 110 (524 ) — (414 ) At 31 Dec 2018 42,909 (37,107 ) (35 ) 5,767 Total employee benefit liabilities (within Note 26 ‘Accruals, deferred income and other liabilities’) (2,167 ) Total employee benefit assets (within Note 22 ‘Prepayments, accrued income and other assets’) 7,934 Net asset/(liability) under defined benefit pension plans Fair value of plan assets Present value of defined benefit obligations Effect of the asset ceiling Net defined benefit asset/(liability) Principal 1 plan Other plans Principal 1 plan Other plans Principal 1 plan Other plans Principal 1 plan Other plans $m $m $m $m $m $m $m $m At 1 Jan 2019 34,074 8,725 (26,616 ) (9,967 ) — (35 ) 7,458 (1,277 ) Service cost — — (64 ) (246 ) — — (64 ) (246 ) – current service cost — — (40 ) (183 ) — — (40 ) (183 ) – past service cost and gains/(losses) from settlements — — (24 ) (63 ) — — (24 ) (63 ) Net interest income/(cost) on the net defined benefit asset/(liability) 939 269 (728 ) (293 ) — — 211 (24 ) Remeasurement effects recognised in other comprehensive income 2,205 867 (2,548 ) (521 ) — 20 (343 ) 366 – return on plan assets (excluding interest income) 2,205 870 — — — — 2,205 870 – actuarial gains/(losses) — — (2,548 ) (1,348 ) — — (2,548 ) (1,348 ) – other changes — (3 ) — 827 — 20 — 844 Exchange differences 1,300 181 (1,036 ) (180 ) — (1 ) 264 — Benefits paid (1,014 ) (620 ) 1,014 694 — — — 74 Other movements 2 370 271 (180 ) 89 — — 190 360 At 31 Dec 2019 37,874 9,693 (30,158 ) (10,424 ) — (16 ) 7,716 (747 ) At 1 Jan 2018 37,747 9,518 (29,552 ) (10,537 ) — (37 ) 8,195 (1,056 ) Service cost — — (293 ) (202 ) — — (293 ) (202 ) – current service cost — — (44 ) (179 ) — — (44 ) (179 ) – past service cost and losses from settlements — — (249 ) (23 ) — — (249 ) (23 ) Net interest income/(cost) on the net defined benefit asset/(liability) 955 235 (743 ) (265 ) — (1 ) 212 (31 ) Remeasurement effects recognised in other comprehensive income (1,478 ) (591 ) 1,153 440 — — (325 ) (151 ) – return on plan assets (excluding interest income) (1,478 ) (591 ) — — — — (1,478 ) (591 ) – actuarial gains — — 1,153 403 — — 1,153 403 – other changes — — — 37 — — — 37 Exchange differences (2,002 ) (187 ) 1,565 122 — 3 (437 ) (62 ) Benefits paid (1,132 ) (544 ) 1,132 550 — — — 6 Other movements 2 (16 ) 294 122 (75 ) — — 106 219 At 31 Dec 2018 34,074 8,725 (26,616 ) (9,967 ) — (35 ) 7,458 (1,277 ) 1 Refer to page 286 for details on the principal plan. 2 Other movements include contributions by HSBC, contributions by employees, administrative costs and taxes paid by plan. |
Disclosure of information about maturity profile of defined benefit obligation | Benefits expected to be paid from the plans to retirees over each of the next five years, and in aggregate for the five years thereafter, are as follows: Benefits expected to be paid from plans 2020 2021 2022 2023 2024 2025-2029 $m $m $m $m $m $m The principal plan 1,2 1,081 1,113 1,145 1,178 1,212 6,611 Other plans 1 471 525 521 486 479 2,332 1 The duration of the defined benefit obligation is 18.1 years for the principal plan under the disclosure assumptions adopted (2018: 17.0 years) and 13.2 years for all other plans combined (2018: 12.3 years). 2 Refer to page 286 for details on the principal plan. |
Disclosure of fair value of plan assets | Fair value of plan assets by asset classes 31 Dec 2019 31 Dec 2018 Value Quoted No quoted Thereof 1 Value Quoted No quoted Thereof 1 $m $m $m $m $m $m $m $m The principal plan 2 Fair value of plan assets 37,874 33,921 3,953 — 34,074 30,670 3,404 — – equities 662 312 350 — 3,152 3,152 — — – bonds 31,699 31,699 — — 26,509 26,509 — — – derivatives 2,052 — 2,052 — 2,030 — 2,030 — – other 3,461 1,910 1,551 — 2,383 1,009 1,374 — Other plans Fair value of plan assets 9,693 8,702 991 1,422 8,725 7,425 1,300 1,216 – equities 2,065 1,455 610 2 2,186 1,265 921 2 – bonds 6,608 6,376 232 8 5,707 5,559 148 7 – derivatives — — — 1,183 37 — 37 1,034 – other 1,020 871 149 229 795 601 194 173 1 The fair value of plan assets includes derivatives entered into with HSBC Bank plc as detailed in Note 35 . 2 Refer to page 286 for details on the principal plan. |
Disclosure of defined benefit plans | Key actuarial assumptions for the principal plan 1 Discount rate Inflation rate Rate of increase for pensions Rate of pay increase % % % % UK At 31 Dec 2019 2.00 3.10 2.90 3.65 At 31 Dec 2018 2.80 3.40 3.10 3.65 1 Refer to page 286 for details on the principal plan. Mortality tables and average life expectancy at age 60 4 for the principal plan 3 Mortality table Life expectancy at age 60 4 for a male member currently: Life expectancy at age 60 4 for a female member currently: Aged 60 Aged 40 Aged 60 Aged 40 UK At 31 Dec 2019 SAPS S2 1 28.0 29.4 28.2 29.8 At 31 Dec 2018 SAPS S2 2 28.1 29.6 28.4 30.0 1 Self-administered pension scheme (‘SAPS’) S2 table (males: 'Normal health pensioners' version; females: 'All pensioners' version) with a multiplier of 0.94 for male and 1.15 for female pensioners. Improvements are projected in accordance with the continual mortality investigation (‘CMI’) 2018 core projection model with an initial addition to improvements of 0.25% per annum and a long-term rate of improvement of 1.25% per annum. Separate tables have been applied to lower-paid pensioners and dependant members. 2 Self-administered pension scheme (‘SAPS’) S2 table (males: 'Normal health pensioners' version; females: 'All pensioners' version) with a multiplier of 0.94 for male and 1.15 for female pensioners. Improvements are projected in accordance with the continual mortality investigation (‘CMI’) 2017 core projection model with a long-term rate of improvement of 1.25% per annum. Separate tables have been applied to lower-paid pensioners and dependant members. 3 Refer to page 286 for details on the principal plan. 4 The presentation of the mortality table has been updated to show life expectancies at the age of 60 rather than 65 as presented in prior years to better reflect market disclosure practices. The prior year data have been updated accordingly. |
Disclosure of sensitivity analysis for actuarial assumptions | The effect of changes in key assumptions on the principal plan 1 Impact on HBUK section of the HSBC Bank (UK) Pension Scheme obligation Financial impact of increase Financial impact of decrease 2019 2018 2019 2018 $m $m $m $m Discount rate – increase/decrease of 0.25% (1,305 ) (1,078 ) 1,395 1,149 Inflation rate – increase/decrease of 0.25% 781 726 (738 ) (716 ) Pension payments and deferred pensions – increase/decrease of 0.25% 1,100 1,181 (1,026 ) (1,112 ) Pay – increase/decrease of 0.25% 73 28 (72 ) (29 ) Change in mortality – increase of 1 year 1,267 995 N/A N/A 1 Refer to page 286 for details on the principal plan. |
Auditor's remuneration (Tables)
Auditor's remuneration (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Additional information [abstract] | |
Schedule of auditor's remuneration | 2019 2018 2017 $m $m $m Audit fees payable to PwC 85.2 86.6 84.8 Other audit fees payable 0.9 0.9 1.2 Year ended 31 Dec 86.1 87.5 86.0 Fees payable by HSBC to PwC 2019 2018 2017 Footnotes $m $m $m Fees for HSBC Holdings’ statutory audit 1 15.7 16.4 15.1 Fees for other services provided to HSBC 95.0 103.1 114.6 – audit of HSBC’s subsidiaries 69.5 70.2 69.7 – audit-related assurance services 2 10.0 11.4 10.8 – other assurance services 3 12.2 13.5 25.2 – taxation compliance services 1.6 1.4 1.2 – taxation advisory services — 0.1 — – other non-audit services 3 1.7 6.5 7.7 Year ended 31 Dec 110.7 119.5 129.7 1 Fees payable to PwC for the statutory audit of the consolidated financial statements of HSBC and the separate financial statements of HSBC Holdings. They include amounts payable for services relating to the consolidation returns of HSBC Holdings’ subsidiaries, which are clearly identifiable as being in support of the Group audit opinion. 2 Including services for assurance and other services that relate to statutory and regulatory filings, including comfort letters and interim reviews. 3 Including permitted services relating to a ttestation reports on internal controls of a service organisation primarily prepared for and used by third party end user. |
Schedule of fees payable by HSBC's associated pension schemes to PwC | Fees payable by HSBC’s associated pension schemes to PwC 2019 2018 2017 $000 $000 $000 Audit of HSBC’s associated pension schemes 250 172 260 Audit-related assurance services — — 4 Year ended 31 Dec 250 172 264 |
Tax (Tables)
Tax (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Income Taxes [Abstract] | |
Schedule of tax expense | Tax expense 2019 2018 2017 Footnotes $m $m $m Current tax 1 3,768 4,195 4,264 – for this year 3,689 4,158 4,115 – adjustments in respect of prior years 79 37 149 Deferred tax 871 670 1,024 – origination and reversal of temporary differences 684 656 (228 ) – effect of changes in tax rates (11 ) 17 1,337 – adjustments in respect of prior years 198 (3 ) (85 ) Year ended 31 Dec 2 4,639 4,865 5,288 1 Current tax included Hong Kong profits tax of $1,413m (2018: $1,532m ; 2017: $1,350m ). The Hong Kong tax rate applying to the profits of subsidiaries assessable in Hong Kong was 16.5% (2018: 16.5% ; 2017: 16.5% ). 2 In addition to amounts recorded in the income statement, a tax charge of $6m (2018: credit of $234m ) was recorded directly to equity |
Schedule of tax reconciliation | The tax charged to the income statement differs from the tax charge that would apply if all profits had been taxed at the UK corporation tax rate as follows: 2019 2018 2017 $m % $m % $m % Profit before tax 13,347 19,890 17,167 Tax expense Taxation at UK corporation tax rate of 19.00% (2018: 19.00%; 2017: 19.25%) 2,536 19.0 3,779 19.0 3,305 19.25 Impact of differently taxed overseas profits in overseas locations 253 1.9 264 1.3 407 2.3 Items increasing tax charge in 2019: – non-deductible goodwill write-down 1,421 10.7 — — — — – local taxes and overseas withholding taxes 484 3.6 437 2.2 618 3.6 – other permanent disallowables 481 3.6 396 2.0 400 2.3 – non-deductible UK customer compensation 382 2.9 16 0.1 166 1.0 – UK tax losses not recognised 364 2.7 435 2.2 70 0.4 – adjustments in respect of prior period liabilities 277 2.1 34 0.2 64 0.4 – bank levy 184 1.4 191 1.0 180 1.0 – impacts of hyperinflation 29 0.2 78 0.4 — — – UK banking surcharge 29 0.2 229 1.1 136 0.8 – non-UK movements in unrecognised deferred tax 12 0.1 32 0.2 (16 ) (0.1 ) – non-deductible regulatory settlements 5 — 153 0.8 (132 ) (0.8 ) – deferred tax remeasurement due to US federal tax rate reduction — — — — 1,288 7.5 Items reducing tax charge in 2019: – non-taxable income and gains (844 ) (6.3 ) (691 ) (3.5 ) (766 ) (4.4 ) – effect of profits in associates and joint ventures (467 ) (3.5 ) (492 ) (2.5 ) (481 ) (2.8 ) – deductions for AT1 coupon payments (263 ) (2.0 ) — — — — – non-taxable gain on dilution of shareholding in SABB (181 ) (1.3 ) — — — — – impact of changes in tax rates (11 ) (0.1 ) 17 0.1 49 0.3 – other items (52 ) (0.4 ) (13 ) (0.1 ) — — Year ended 31 Dec 4,639 34.8 4,865 24.5 5,288 30.8 |
Schedule of movement of deferred tax assets and liabilities | Movement of deferred tax assets and liabilities Loan Unused tax Derivatives, FVOD 1 and other Insurance Expense Fixed assets Retirement obligations Other Total Footnotes $m $m $m $m $m $m $m $m $m Assets 982 1,156 492 — 629 1,151 — 738 5,148 Liabilities — — (376 ) (1,271 ) — — (1,387 ) (283 ) (3,317 ) At 1 Jan 2019 982 1,156 116 (1,271 ) 629 1,151 (1,387 ) 455 1,831 Income statement 45 266 (386 ) (303 ) (18 ) (185 ) (149 ) (141 ) (871 ) Other comprehensive income — — 544 — — — 30 (391 ) 183 Equity — — — — — — — — — Foreign exchange and other adjustments (44 ) (8 ) 147 (47 ) 39 36 (107 ) 98 114 At 31 Dec 2019 983 1,414 421 (1,621 ) 650 1,002 (1,613 ) 21 1,257 Assets 2 983 1,414 979 — 650 1,002 — 422 5,450 Liabilities 2 — — (558 ) (1,621 ) — — (1,613 ) (401 ) (4,193 ) Assets 713 1,373 1,282 — 643 1,201 352 760 6,324 Liabilities — — (93 ) (1,182 ) — — (1,387 ) (968 ) (3,630 ) At 1 Jan 2018 713 1,373 1,189 (1,182 ) 643 1,201 (1,035 ) (208 ) 2,694 IFRS 9 transitional adjustment 358 — (411 ) — — — — 459 406 Income statement (72 ) (203 ) 51 (104 ) 19 (68 ) 35 (328 ) (670 ) Other comprehensive income — — (722 ) — — — 25 165 (532 ) Equity — — — — — — (15 ) (8 ) (23 ) Foreign exchange and other adjustments (17 ) (14 ) 9 15 (33 ) 18 (397 ) 375 (44 ) At 31 Dec 2018 982 1,156 116 (1,271 ) 629 1,151 (1,387 ) 455 1,831 Assets 2 982 1,156 492 — 629 1,151 — 738 5,148 Liabilities 2 — — (376 ) (1,271 ) — — (1,387 ) (283 ) (3,317 ) 1 Fair value of own debt. 2 After netting off balances within countries, the balances as disclosed in the accounts are as follows: deferred tax assets $4,632m (2018: $4,450m ) and deferred tax liabilities $3,375m (2018: $2,619m ). |
Dividends (Tables)
Dividends (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Interim Financial Reporting [Abstract] | |
Disclosure of dividends to shareholders | Dividends to shareholders of the parent company 2019 2018 2017 Per Total Settled Per Total Settled Per Total Settled $ $m $m $ $m $m $ $m $m Dividends paid on ordinary shares In respect of previous year: – fourth interim dividend 0.21 4,206 1,160 0.21 4,197 393 0.21 4,169 1,945 In respect of current year: – first interim dividend 0.10 2,013 375 0.10 2,008 213 0.10 2,005 826 – second interim dividend 0.10 2,021 795 0.10 1,990 181 0.10 2,014 193 – third interim dividend 0.10 2,029 357 0.10 1,992 707 0.10 2,005 242 Total 0.51 10,269 2,687 0.51 10,187 1,494 0.51 10,193 3,206 Total dividends on preference shares classified as equity (paid quarterly) 62.00 90 62.00 90 62.00 90 Total coupons on capital securities classified as equity 1,324 1,270 1,268 Dividends to shareholders 11,683 11,547 11,551 |
Disclosure of coupons on capital securities classified as equity | Total coupons on capital securities classified as equity 2019 2018 2017 Total Total Total Footnotes First call date Per security $m $m $m Perpetual subordinated capital securities 1, 3 $2,200m issued at 8.125% Apr 2013 $0.000 — 89 179 $3,800m issued at 8.000% Dec 2015 $0.000 — 76 304 Perpetual subordinated contingent convertible securities 2, 3 $1,500m issued at 5.625% 4 Nov 2019 $56.250 84 84 84 $2,000m issued at 6.875% Jun 2021 $68.750 138 138 138 $2,250m issued at 6.375% Sep 2024 $63.750 143 143 143 $2,450m issued at 6.375% Mar 2025 $63.750 156 156 156 $3,000m issued at 6.000% May 2027 $60.000 180 180 90 $2,350m issued at 6.250% Mar 2023 $62.500 147 73 — $1,800m issued at 6.500% Mar 2028 $65.000 117 59 — €1,500m issued at 5.250% Sep 2022 €52.500 88 95 89 €1,000m issued at 6.000% Sep 2023 €60.000 66 72 68 €1,250m issued at 4.750% July 2029 €47.500 68 70 — SGD1,000m issued at 4.700% Jun 2022 SGD47.000 34 35 17 £1,000m issued at 5.875% Sep 2026 £58.750 75 — — SGD750m issued at 5% Sep 2023 SGD50.000 28 — — Total 1,324 1,270 1,268 1 Discretionary coupons are paid quarterly on the perpetual subordinated capital securities, in denominations of $25 per security. 2 Discretionary coupons are paid semi-annually on the perpetual subordinated contingent convertible securities, in denominations of each security’s issuance currency 1,000 per security. 3 Further details of these securities can be found in Note 31 . 4 This security was called by HSBC Holdings on 22 November 2019 and was redeemed and cancelled on 17 January 2020. Between the date of exercise of the call option and the redemption, this security was considered to be a subordinated liability. Refer to Note 31 for further details on additional tier 1 securities. |
Earnings per share (Tables)
Earnings per share (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Earnings per share [abstract] | |
Disclosure of detailed information on earnings per share | Profit attributable to the ordinary shareholders of the parent company 2019 2018 2017 $m $m $m Profit attributable to shareholders of the parent company 7,383 13,727 10,798 Dividend payable on preference shares classified as equity (90 ) (90 ) (90 ) Coupon payable on capital securities classified as equity (1,324 ) (1,029 ) (1,025 ) Year ended 31 Dec 5,969 12,608 9,683 Basic and diluted earnings per share 2019 2018 2017 Profit Number Per Profit Number Per Profit Number Per Footnotes $m (millions) $ $m (millions) $ $m (millions) $ Basic 1 5,969 20,158 0.30 12,608 19,896 0.63 9,683 19,972 0.48 Effect of dilutive potential ordinary shares 75 87 100 Diluted 1 5,969 20,233 0.30 12,608 19,983 0.63 9,683 20,072 0.48 1 Weighted average number of ordinary shares outstanding (basic) or assuming dilution (diluted). |
Segmental analysis (Tables)
Segmental analysis (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Analysis of income and expense [abstract] | |
Adjusted profit before tax and balance sheet data | HSBC adjusted profit before tax and balance sheet data 2019 Retail Commercial Global Global Corporate Centre Total Footnotes $m $m $m $m $m $m Net operating income/(expense) before change in expected credit losses and other credit impairment charges 1 23,400 15,292 14,916 1,848 (47 ) 55,409 – external 17,026 14,805 18,517 1,445 3,616 55,409 – inter-segment 6,374 487 (3,601 ) 403 (3,663 ) — of which: net interest income/(expense) 16,525 11,226 5,601 879 (3,612 ) 30,619 Change in expected credit losses and other credit impairment charges (1,390 ) (1,184 ) (153 ) (22 ) (7 ) (2,756 ) Net operating income/(expense) 22,010 14,108 14,763 1,826 (54 ) 52,653 Total operating expenses (14,017 ) (6,801 ) (9,417 ) (1,424 ) (1,136 ) (32,795 ) Operating profit/(loss) 7,993 7,307 5,346 402 (1,190 ) 19,858 Share of profit in associates and joint ventures 55 — — — 2,299 2,354 Adjusted profit before tax 8,048 7,307 5,346 402 1,109 22,212 % % % % % % Share of HSBC’s adjusted profit before tax 36.2 32.9 24.1 1.8 5.0 100.0 Adjusted cost efficiency ratio 59.9 44.5 63.1 77.1 (2,417.0 ) 59.2 Adjusted balance sheet data $m $m $m $m $m $m Loans and advances to customers (net) 395,393 346,060 246,266 47,593 1,431 1,036,743 Interests in associates and joint ventures 449 — — — 24,025 24,474 Total external assets 526,621 367,509 1,066,584 52,224 702,214 2,715,152 Customer accounts 689,283 386,522 292,284 62,943 8,083 1,439,115 HSBC adjusted profit before tax and balance sheet data (continued) 2018 Retail Commercial Global Global Corporate Centre Total Footnotes $m $m $m $m $m $m Net operating income/(expense) before change in expected credit losses and other credit impairment charges 1 21,374 14,465 15,025 1,757 (290 ) 52,331 – external 16,794 14,226 17,554 1,474 2,283 52,331 – inter-segment 4,580 239 (2,529 ) 283 (2,573 ) — of which: net interest income/(expense) 15,432 10,380 5,122 873 (2,189 ) 29,618 Change in expected credit losses and other credit impairment (charges)/recoveries (1,134 ) (712 ) 31 7 119 (1,689 ) Net operating income/(expense) 20,240 13,753 15,056 1,764 (171 ) 50,642 Total operating expenses (13,255 ) (6,275 ) (9,170 ) (1,425 ) (1,781 ) (31,906 ) Operating profit/(loss) 6,985 7,478 5,886 339 (1,952 ) 18,736 Share of profit in associates and joint ventures 33 — — — 2,413 2,446 Adjusted profit before tax 7,018 7,478 5,886 339 461 21,182 % % % % % % Share of HSBC’s adjusted profit before tax 33.1 35.3 27.8 1.6 2.2 100.0 Adjusted cost efficiency ratio 62.0 43.4 61.0 81.1 (614.1 ) 61.0 Adjusted balance sheet data $m $m $m $m $m $m Loans and advances to customers (net) 367,917 337,099 247,125 39,602 2,533 994,276 Interests in associates and joint ventures 398 — — — 21,903 22,301 Total external assets 482,967 364,638 1,025,737 45,520 670,333 2,589,195 Customer accounts 649,172 362,274 294,584 65,053 8,655 1,379,738 2017 Retail Commercial Global Global Corporate Centre Total Footnotes $m $m $m $m $m $m Net operating income before loan impairment charges and other credit risk provisions 1 19,708 12,883 14,823 1,698 1,061 50,173 – external 16,582 13,009 16,086 1,433 3,063 50,173 – inter-segment 3,126 (126 ) (1,263 ) 265 (2,002 ) — of which: net interest income/(expense) 13,573 8,822 4,746 812 (499 ) 27,454 Loan impairment charges and other credit risk provisions/(recoveries) (941 ) (468 ) (439 ) (17 ) 179 (1,686 ) Net operating income 18,767 12,415 14,384 1,681 1,240 48,487 Total operating expenses (12,386 ) (5,770 ) (8,709 ) (1,384 ) (2,010 ) (30,259 ) Operating profit/(loss) 6,381 6,645 5,675 297 (770 ) 18,228 Share of profit in associates and joint ventures 12 — — — 2,316 2,328 Adjusted profit before tax 6,393 6,645 5,675 297 1,546 20,556 % % % % % % Share of HSBC’s adjusted profit before tax 31.1 32.3 27.6 1.4 7.6 100.0 Adjusted cost efficiency ratio 62.8 44.8 58.8 81.5 189.4 60.3 Adjusted balance sheet data $m $m $m $m $m $m Loans and advances to customers (net) 337,768 308,870 246,890 40,013 7,382 940,923 Interests in associates and joint ventures 364 — — — 21,558 21,922 Total external assets 457,126 340,211 960,732 46,706 667,822 2,472,597 Customer accounts 629,442 356,488 276,634 65,491 11,017 1,339,072 1 Net operating income before change in expected credit losses and other credit impairment charges/Loan impairment charges and other credit risk provisions, also referred to as revenue. |
External net operating income by country | Reported external net operating income is attributed to countries and territories on the basis of the location of the branch responsible for reporting the results or advancing the funds: 2019 2018 2017 Footnotes $m $m $m Reported external net operating income by country/territory 1 56,098 53,780 51,445 – UK 9,011 10,340 11,057 – Hong Kong 18,449 17,162 14,992 – US 4,471 4,379 4,573 – France 1,942 1,898 2,203 – other countries 22,225 20,001 18,620 1 Net operating income before change in expected credit losses and other credit impairment charges/Loan impairment charges and other credit risk provisions, also referred to as revenue. Adjusted results reconciliation 2019 2018 2017 Adjusted Significant items Reported Adjusted Currency translation Significant items Reported Adjusted Currency translation Significant items Reported Footnotes $m $m $m $m $m $m $m $m $m $m $m Revenue 1 55,409 689 56,098 52,331 1,617 (168 ) 53,780 50,173 1,344 (72 ) 51,445 ECL (2,756 ) — (2,756 ) (1,689 ) (78 ) — (1,767 ) N/A N/A N/A N/A LICs N/A N/A N/A N/A N/A N/A N/A (1,686 ) (83 ) — (1,769 ) Operating expenses (32,795 ) (9,554 ) (42,349 ) (31,906 ) (1,109 ) (1,644 ) (34,659 ) (30,259 ) (915 ) (3,710 ) (34,884 ) Share of profit in associates and joint ventures 2,354 — 2,354 2,446 90 — 2,536 2,328 47 — 2,375 Profit/(loss) before tax 22,212 (8,865 ) 13,347 21,182 520 (1,812 ) 19,890 20,556 393 (3,782 ) 17,167 |
Reconciliation of reported and adjusted items | Adjusted results reconciliation 2019 2018 2017 Adjusted Significant items Reported Adjusted Currency translation Significant items Reported Adjusted Currency translation Significant items Reported Footnotes $m $m $m $m $m $m $m $m $m $m $m Revenue 1 55,409 689 56,098 52,331 1,617 (168 ) 53,780 50,173 1,344 (72 ) 51,445 ECL (2,756 ) — (2,756 ) (1,689 ) (78 ) — (1,767 ) N/A N/A N/A N/A LICs N/A N/A N/A N/A N/A N/A N/A (1,686 ) (83 ) — (1,769 ) Operating expenses (32,795 ) (9,554 ) (42,349 ) (31,906 ) (1,109 ) (1,644 ) (34,659 ) (30,259 ) (915 ) (3,710 ) (34,884 ) Share of profit in associates and joint ventures 2,354 — 2,354 2,446 90 — 2,536 2,328 47 — 2,375 Profit/(loss) before tax 22,212 (8,865 ) 13,347 21,182 520 (1,812 ) 19,890 20,556 393 (3,782 ) 17,167 1 Net operating income before change in expected credit losses and other credit impairment charges/Loan impairment charges and other credit risk provisions, also referred to as revenue. Adjusted balance sheet reconciliation 2019 2018 2017 Reported and adjusted Adjusted Currency translation Reported Adjusted Currency translation Reported $m $m $m $m $m $m $m Loans and advances to customers (net) 1,036,743 994,276 (12,580 ) 981,696 940,923 22,041 962,964 Interests in associates and joint ventures 24,474 22,301 106 22,407 21,922 822 22,744 Total external assets 2,715,152 2,589,195 (31,071 ) 2,558,124 2,472,597 49,174 2,521,771 Customer accounts 1,439,115 1,379,738 (17,095 ) 1,362,643 1,339,072 25,390 1,364,462 Adjusted profit reconciliation 2019 2018 2017 Footnotes $m $m $m Year ended 31 Dec Adjusted profit before tax 22,212 21,182 20,556 Significant items (8,865 ) (1,812 ) (3,782 ) – customer redress programmes (revenue) (163 ) 53 (108 ) – disposals, acquisitions and investment in new businesses (revenue) 768 (113 ) 274 – fair value movements on financial instruments 1 84 (100 ) (245 ) – costs of structural reform 2 (158 ) (361 ) (420 ) – costs to achieve — — (3,002 ) – customer redress programmes (operating expenses) (1,281 ) (146 ) (655 ) – disposals, acquisitions and investment in new businesses (operating expenses) — (52 ) (53 ) – gain on partial settlement of pension obligation — — 188 – goodwill impairment (7,349 ) — — – past service costs of guaranteed minimum pension benefits equalisation — (228 ) — – restructuring and other related costs (827 ) (66 ) — – settlements and provisions in connection with legal and other regulatory matters 61 (816 ) 198 – currency translation on significant items 17 41 Currency translation 520 393 Reported profit before tax 13,347 19,890 17,167 1 Fair value movements on financial instruments include non-qualifying hedges and debt value adjustments on derivatives. 2 Comprises costs associated with preparations for the UK’s exit from the European Union, costs to establish the UK ring-fenced bank (including the UK ServCo group) and costs associated with establishing an intermediate holding company in Hong Kong . |
Trading assets (Tables)
Trading assets (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Financial Instruments [Abstract] | |
Disclosure of trading securities | 2019 2018 Footnotes $m $m Treasury and other eligible bills 21,789 22,674 Debt securities 126,043 130,539 Equity securities 78,827 60,896 Trading securities 226,659 214,109 Loans and advances to banks 1 8,402 10,425 Loans and advances to customers 1 19,210 13,596 Year ended 31 Dec 254,271 238,130 1 Loans and advances to banks and customers include reverse repos, stock borrowing and other accounts. Trading securities 1 2019 2018 Footnotes $m $m US Treasury and US Government agencies 2 25,722 34,664 UK Government 10,040 9,710 Hong Kong Government 9,783 10,772 Other governments 72,456 66,530 Asset-backed securities 3 4,691 3,351 Corporate debt and other securities 25,140 28,186 Equity securities 78,827 60,896 At 31 Dec 226,659 214,109 1 Included within these figures are debt securities issued by banks and other financial institutions of $17,846m (2018: $18,918m ), of which $2,637m (2018: $2,367m ) are guaranteed by various governments. 2 Includes securities that are supported by an explicit guarantee issued by the US Government. 3 Excludes asset-backed securities included under US Treasury and US Government agencies. 2019 2018 Designated at fair value Mandatorily measured at fair value Total Designated at fair value Mandatorily measured at fair value Total $m $m $m $m $m $m Securities 2,344 35,808 38,152 2,349 30,217 32,566 – treasury and other eligible bills 630 31 661 641 29 670 – debt securities 1,714 4,838 6,552 1,708 4,839 6,547 – equity securities — 30,939 30,939 — 25,349 25,349 Loans and advances to banks and customers 1 4,555 4,556 — 7,717 7,717 Other — 919 919 — 828 828 At 31 Dec 2,345 41,282 43,627 2,349 38,762 41,111 Securities 1 2019 2018 Designated at fair value Mandatorily measured at fair value Total Designated at fair value Mandatorily measured at fair value Total Footnotes $m $m $m $m $m $m Hong Kong Government 4 — 4 4 — 4 Other governments 666 754 1,420 673 713 1,386 Asset-backed securities 2 — 363 363 — 399 399 Corporate debt and other securities 1,674 3,752 5,426 1,672 3,756 5,428 Equities — 30,939 30,939 — 25,349 25,349 At 31 Dec 2,344 35,808 38,152 2,349 30,217 32,566 1 Included within these figures are debt securities issued by banks and other financial institutions of $ 366 m ( 2018 re-presented: $ 676 m), of which nil ( 2018 : nil ) are guaranteed by various governments. 2 Excludes asset-backed securities included under US Treasury and US Government agencies. Financial investments at amortised cost and fair value 2019 2018 Amortised cost Fair value 1 Amortised cost Fair value 1 Footnotes $m $m $m $m US Treasury 79,633 80,589 54,941 54,763 US Government agencies 2 26,356 26,387 21,058 20,580 US Government-sponsored entities 2 8,070 8,259 12,867 12,701 UK Government 28,621 28,973 20,576 21,083 Hong Kong Government 47,824 47,820 49,956 49,955 Other governments 140,510 142,511 142,495 144,099 Asset-backed securities 3 2,954 2,889 3,579 3,390 Corporate debt and other securities 101,750 107,364 97,286 98,419 Equities 1,241 1,913 1,353 1,657 At 31 Dec 436,959 446,705 404,111 406,647 1 Included within ‘fair value’ figures are debt securities issued by banks and other financial institutions of $ 61 bn ( 2018 : $56 bn), of which $ 11 bn ( 2018 : $8 bn) are guaranteed by various governments. 2 Includes securities that are supported by an explicit guarantee issued by the US Government. 3 Excludes asset-backed securities included under US Government agencies and sponsored entities. Maturities of investments in debt securities at their carrying amount Up to 1 year 1 to 5 years 5 to 10 years Over 10 years Total $m $m $m $m $m Debt securities measured at fair value through other comprehensive income 61,833 123,740 42,831 32,132 260,536 Debt securities measured at amortised cost 5,472 14,395 21,431 33,961 75,259 At 31 Dec 2019 67,305 138,135 64,262 66,093 335,795 Debt securities measured at fair value through other comprehensive income 61,598 124,075 36,194 24,504 246,371 Debt securities measured at amortised cost 2,519 10,086 16,065 33,317 61,987 At 31 Dec 2018 64,117 134,161 52,259 57,821 308,358 Contractual maturities and weighted average yields of investment debt securities Up to 1 year 1 to 5 years 5 to 10 years Over 10 years Amount Yield Amount Yield Amount Yield Amount Yield $m % $m % $m % $m % Debt securities measured at fair value through other comprehensive income US Treasury 6,322 2.1 26,834 2.0 18,208 2.0 3,268 2.9 US Government agencies — — 79 2.2 1 4.7 15,581 2.6 US Government-sponsored agencies 725 2.8 167 3.1 1,940 2.8 2,191 3.0 UK Government 4,681 1.3 4,393 1.1 4,443 0.2 2,811 2.8 Hong Kong Government 559 1.3 145 1.8 152 3.2 — — Other governments 39,144 2.3 54,689 2.8 11,478 1.7 1,862 3.6 Asset-backed securities 18 2.7 1 0.5 325 3.1 2,610 2.2 Corporate debt and other securities 9,735 2.0 34,921 1.8 4,879 2.2 2,795 3.4 Total amortised cost at 31 Dec 2019 61,184 121,229 41,426 31,118 Total carrying value 61,833 123,740 42,831 32,132 Debt securities measured at amortised cost US Treasury 3,010 1.9 4,879 1.8 2,931 1.9 141 4.2 US Government agencies — — 13 3.8 19 3.5 10,286 2.6 US Government-sponsored agencies — — 482 2.7 551 2.3 2,015 3.2 Hong Kong Government 10 1.6 20 1.6 9 1.4 — — Other governments 128 4.4 552 3.4 487 3.1 832 4.2 Asset-backed securities — — — — — — 2 7.5 Corporate debt and other securities 2,324 3.5 8,449 3.4 17,434 3.3 20,685 3.8 Total amortised cost at 31 Dec 2019 5,472 14,395 21,431 33,961 Total carrying value 5,472 14,395 21,431 33,961 Carrying amount of financial investments 2019 2018 Footnotes $m $m Financial investments measured at fair value through other comprehensive income 357,577 344,767 – treasury and other eligible bills 95,043 96,642 – debt securities 260,536 246,371 – equity securities 1,913 1,657 – other instruments 1 85 97 Debt instruments measured at amortised cost 2 85,735 62,666 – treasury and other eligible bills 10,476 679 – debt securities 75,259 61,987 At 31 Dec 443,312 407,433 1 ‘Other instruments’ comprises of loans and advances. 2 Fair value $89.1 bn ( 2018 : $62.1 bn). Equity instruments measured at fair value through other comprehensive income Fair value Dividends recognised Type of equity instruments $m $m Investments required by central institutions 738 22 Business facilitation 1,124 19 Others 51 9 At 31 Dec 2019 1,913 50 Investments required by central institutions 848 34 Business facilitation 758 21 Others 51 9 At 31 Dec 2018 1,657 64 HSBC Holdings carrying amount of financial investments 2019 2018 Footnotes $m $m Debt instruments measured at amortised cost 1 – treasury and other eligible bills 10,081 — – debt securities 6,025 — At 31 Dec 16,106 — 1 The 2019 period includes $ 16.1b n (2018: nil ) of investments in highly liquid securities. Financial investments at amortised cost and fair value 2019 2018 Amortised cost Fair value Amortised cost Fair value $m $m $m $m US Treasury 16,106 16,121 — — US Government agencies — — — — US Government-sponsored entities — — — — At 31 Dec 16,106 16,121 — — Maturities of investments in debt securities at their carrying amount Up to 1 year 1 to 5 years 5 to 10 years Over 10 years Total $m $m $m $m $m Debt securities measured at amortised cost 3,010 3,015 — — 6,025 At 31 Dec 2019 3,010 3,015 — — 6,025 Debt securities measured at amortised cost — — — — — At 31 Dec 2018 — — — — — Contractual maturities and weighted average yields of investment debt securities Up to 1 year 1 to 5 years 5 to 10 years Over 10 years Amount Yield Amount Yield Amount Yield Amount Yield $m % $m % $m % $m % Debt securities measured at amortised cost US Treasury 3,010 1.9 3,015 1.7 — — — — US Government agencies — — — — — — — — US Government-sponsored agencies — — — — — — — — Total amortised cost at 31 Dec 2019 3,010 3,015 — — Total carrying value 3,010 3,015 — — |
Fair values of financial inst_3
Fair values of financial instruments carried at fair value (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Fair Value Measurement [Abstract] | |
Disclosure of fair value measurement of assets | Financial instruments carried at fair value and bases of valuation 2019 2018 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total $m $m $m $m $m $m $m $m Recurring fair value measurements Assets Trading assets 186,653 62,639 4,979 254,271 178,100 53,271 6,759 238,130 Financial assets designated and otherwise mandatorily measured at fair value through profit or loss 26,505 9,373 7,749 43,627 23,125 12,494 5,492 41,111 Derivatives 1,728 239,131 2,136 242,995 1,868 203,534 2,423 207,825 Financial investments 271,467 84,087 2,023 357,577 263,885 78,882 2,000 344,767 Liabilities Trading liabilities 66,925 16,192 53 83,170 66,300 18,073 58 84,431 Financial liabilities designated at fair value 9,549 149,901 5,016 164,466 6,815 136,362 5,328 148,505 Derivatives 1,331 235,864 2,302 239,497 2,845 201,234 1,756 205,835 Transfers between Level 1 and Level 2 fair values Assets Liabilities Financial investments Trading assets Designated Derivatives Trading liabilities Designated at fair value Derivatives $m $m $m $m $m $m $m At 31 Dec 2019 Transfers from Level 1 to Level 2 5,257 3,304 1,332 24 278 — — Transfers from Level 2 to Level 1 3,486 2,726 673 111 220 — 117 At 31 Dec 2018 Transfers from Level 1 to Level 2 367 435 2 1 79 — — Transfers from Level 2 to Level 1 17,861 4,959 85 128 1,821 — 138 Financial instruments measured at fair value using a valuation technique with significant unobservable inputs – Level 3 Assets Liabilities Financial investments Trading assets Designated and otherwise mandatorily measured at fair value through profit or loss Derivatives Total Trading liabilities Designated at fair value Derivatives Total $m $m $m $m $m $m $m $m $m Private equity including strategic investments 716 4 7,289 — 8,009 4 — — 4 Asset-backed securities 874 934 28 — 1,836 — — — — Loans held for securitisation — 1 39 — 40 — — — — Structured notes — 3 — — 3 47 5,016 — 5,063 Derivatives with monolines — — — 66 66 — — — — Other derivatives — — — 2,070 2,070 — — 2,302 2,302 Other portfolios 433 4,037 393 — 4,863 2 — — 2 At 31 Dec 2019 2,023 4,979 7,749 2,136 16,887 53 5,016 2,302 7,371 Private equity including strategic investments 427 20 5,106 — 5,553 12 — — 12 Asset-backed securities 1,030 1,140 32 — 2,202 — — — — Loans held for securitisation — — 49 — 49 — — — — Structured notes — 3 — — 3 46 5,328 — 5,374 Derivatives with monolines — — — 65 65 — — — — Other derivatives — — — 2,358 2,358 — — 1,755 1,755 Other portfolios 543 5,596 305 — 6,444 — — 1 1 At 31 Dec 2018 2,000 6,759 5,492 2,423 16,674 58 5,328 1,756 7,142 Movement in Level 3 financial instruments Assets Liabilities Financial invest-ments Trading assets Designated and otherwise mandatorily measured at fair value through profit or loss Derivatives Trading liabilities Designated at fair value Derivatives Footnotes $m $m $m $m $m $m $m At 1 Jan 2019 2,000 6,759 5,492 2,423 58 5,328 1,756 Total gains/(losses) recognised in profit or loss 6 (112 ) 598 278 (4 ) 195 930 – net income from financial instruments held for trading or managed on a fair value basis — (112 ) — 278 (4 ) — 930 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 598 — — 195 — – gains less losses from financial investments at fair value through other comprehensive income 10 — — — — — — – expected credit loss charges and other credit risk charges (4 ) — — — — — — Total gains/(losses) recognised in other comprehensive income (‘OCI’) 1 269 76 (1 ) 49 1 18 52 – financial investments: fair value gains/(losses) 261 — — — — — — – exchange differences 8 76 (1 ) 49 1 18 52 Purchases 271 2,206 2,353 — 8 157 — New issuances — 154 — — 6 1,601 — Sales (10 ) (895 ) (276 ) — (9 ) (193 ) — Settlements (329 ) (2,107 ) (434 ) (100 ) (7 ) (1,048 ) (162 ) Transfers out (471 ) (1,558 ) (23 ) (710 ) (9 ) (1,079 ) (473 ) Transfers in 287 456 40 196 9 37 199 At 31 Dec 2019 2,023 4,979 7,749 2,136 53 5,016 2,302 Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at 31 Dec 2019 (4 ) (22 ) 477 279 — 57 (407 ) – net income from financial instruments held — (22 ) — 279 — — (407 ) – changes in fair value of other financial — — 477 — — 57 — – loan impairment recoveries and other credit (4 ) — — — — — — Movement in Level 3 financial instruments (continued) Assets Liabilities Financial invest-ments Trading assets Designated and otherwise mandatorily measured at fair value through profit or loss Derivatives Trading liabilities Designated at fair value Derivatives Footnotes $m $m $m $m $m $m $m At 1 Jan 2018 1,767 5,080 3,958 2,444 93 4,107 1,949 Total gains/(losses) recognised in profit or loss 251 284 608 597 (4 ) (637 ) 255 – net income from financial instruments held for trading or managed on a fair value basis — 284 — 597 (4 ) — 255 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 608 — — (637 ) — – gains less losses from financial investments at fair value through other comprehensive income 251 — — — — — — Total gains/(losses) recognised in other comprehensive income (‘OCI’) 1 17 (274 ) (107 ) (113 ) (3 ) (144 ) (82 ) – financial investments: fair value gains/(losses) 15 — — — — — — – cash flow hedges: fair value gains/(losses) — — 6 6 — — 2 – exchange differences 2 (274 ) (113 ) (119 ) (3 ) (144 ) (84 ) Purchases 275 4,377 2,172 — 3 76 — New issuances — 975 — — 6 2,442 — Sales (51 ) (1,589 ) (395 ) — (11 ) — — Settlements (141 ) (2,021 ) (541 ) (191 ) (2 ) (32 ) (18 ) Transfers out (685 ) (1,402 ) (285 ) (337 ) (24 ) (1,112 ) (464 ) Transfers in 567 1,329 82 23 — 628 116 At 31 Dec 2018 2,000 6,759 5,492 2,423 58 5,328 1,756 Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at 31 Dec 2018 — (5 ) 199 342 (5 ) 274 (351 ) – net income from financial instruments held for trading or managed on a fair value basis — (5 ) — 342 (5 ) — (351 ) – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 199 — — 274 — – loan impairment recoveries and other credit risk provisions — — — — — — — 1 Included in ‘financial investments: fair value gains/(losses)’ in the current year and ‘exchange differences’ in the consolidated statement of comprehensive income. Basis of valuing HSBC Holdings’ financial assets and liabilities measured at fair value 2019 2018 Footnotes $m $m Valuation technique using observable inputs: Level 2 Assets at 31 Dec – derivatives 2,002 707 – financial investments — — – designated and otherwise mandatorily measured at fair value through profit or loss 1 61,964 23,513 Liabilities at 31 Dec – designated at fair value 30,303 25,049 – derivatives 2,021 2,159 1 In 2019, due to the restructuring of the Group’s Asia and UK operations to meet resolution and recovery requirements, changes in the terms of financial assets have resulted in the derecognition of principal amounts of $33.3b n, relating to financial assets measured at amortised cost. Under the revised terms, financial assets with principal amounts of $33.3b n (2018: nil ) measured on fair value basis have been recognised. Fair values of financial instruments not carried at fair value and bases of valuation Fair value Carrying Quoted market Observable Significant Total $m $m $m $m $m At 31 Dec 2019 Assets Loans and advances to banks 69,203 — 68,508 739 69,247 Loans and advances to customers 1,036,743 — 10,365 1,027,178 1,037,543 Reverse repurchase agreements – non-trading 240,862 16 240,199 691 240,906 Financial investments – at amortised cost 85,735 26,202 62,572 287 89,061 Liabilities Deposits by banks 59,022 — 58,951 — 58,951 Customer accounts 1,439,115 — 1,439,362 150 1,439,512 Repurchase agreements – non-trading 140,344 — 140,344 — 140,344 Debt securities in issue 104,555 — 104,936 — 104,936 Subordinated liabilities 24,600 — 28,861 385 29,246 At 31 Dec 2018 Assets Loans and advances to banks 72,167 — 68,378 3,791 72,169 Loans and advances to customers 981,696 — 10,518 974,559 985,077 Reverse repurchase agreements – non-trading 242,804 81 241,407 1,369 242,857 Financial investments – at amortised cost 62,666 1,790 60,073 216 62,079 Liabilities Deposits by banks 56,331 — 56,308 — 56,308 Customer accounts 1,362,643 — 1,362,794 151 1,362,945 Repurchase agreements – non-trading 165,884 — 165,884 — 165,884 Debt securities in issue 85,342 — 85,430 — 85,430 Subordinated liabilities 22,437 — 24,968 373 25,341 Fair values of HSBC Holdings’ financial instruments not carried at fair value on the balance sheet 2019 2018 Carrying amount Fair value 1 Carrying amount Fair value 1 Footnotes $m $m $m $m Assets at 31 Dec Loans and advances to HSBC undertakings 10,218 10,504 56,144 56,801 Financial investments – at amortised cost 2 16,106 16,121 Liabilities at 31 Dec Amounts owed to HSBC undertakings 464 464 949 949 Debt securities in issue 56,844 59,140 50,800 51,552 Subordinated liabilities 18,361 22,536 17,715 20,224 1 Fair values (other than Level 1 financial investments) were determined using valuation techniques with observable inputs (Level 2). 2 The 2019 period includes $16.1b n (2018: nil ) of investments in highly liquid securities. |
Disclosure of fair value measurement of liabilities | Financial instruments carried at fair value and bases of valuation 2019 2018 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total $m $m $m $m $m $m $m $m Recurring fair value measurements Assets Trading assets 186,653 62,639 4,979 254,271 178,100 53,271 6,759 238,130 Financial assets designated and otherwise mandatorily measured at fair value through profit or loss 26,505 9,373 7,749 43,627 23,125 12,494 5,492 41,111 Derivatives 1,728 239,131 2,136 242,995 1,868 203,534 2,423 207,825 Financial investments 271,467 84,087 2,023 357,577 263,885 78,882 2,000 344,767 Liabilities Trading liabilities 66,925 16,192 53 83,170 66,300 18,073 58 84,431 Financial liabilities designated at fair value 9,549 149,901 5,016 164,466 6,815 136,362 5,328 148,505 Derivatives 1,331 235,864 2,302 239,497 2,845 201,234 1,756 205,835 Transfers between Level 1 and Level 2 fair values Assets Liabilities Financial investments Trading assets Designated Derivatives Trading liabilities Designated at fair value Derivatives $m $m $m $m $m $m $m At 31 Dec 2019 Transfers from Level 1 to Level 2 5,257 3,304 1,332 24 278 — — Transfers from Level 2 to Level 1 3,486 2,726 673 111 220 — 117 At 31 Dec 2018 Transfers from Level 1 to Level 2 367 435 2 1 79 — — Transfers from Level 2 to Level 1 17,861 4,959 85 128 1,821 — 138 Financial instruments measured at fair value using a valuation technique with significant unobservable inputs – Level 3 Assets Liabilities Financial investments Trading assets Designated and otherwise mandatorily measured at fair value through profit or loss Derivatives Total Trading liabilities Designated at fair value Derivatives Total $m $m $m $m $m $m $m $m $m Private equity including strategic investments 716 4 7,289 — 8,009 4 — — 4 Asset-backed securities 874 934 28 — 1,836 — — — — Loans held for securitisation — 1 39 — 40 — — — — Structured notes — 3 — — 3 47 5,016 — 5,063 Derivatives with monolines — — — 66 66 — — — — Other derivatives — — — 2,070 2,070 — — 2,302 2,302 Other portfolios 433 4,037 393 — 4,863 2 — — 2 At 31 Dec 2019 2,023 4,979 7,749 2,136 16,887 53 5,016 2,302 7,371 Private equity including strategic investments 427 20 5,106 — 5,553 12 — — 12 Asset-backed securities 1,030 1,140 32 — 2,202 — — — — Loans held for securitisation — — 49 — 49 — — — — Structured notes — 3 — — 3 46 5,328 — 5,374 Derivatives with monolines — — — 65 65 — — — — Other derivatives — — — 2,358 2,358 — — 1,755 1,755 Other portfolios 543 5,596 305 — 6,444 — — 1 1 At 31 Dec 2018 2,000 6,759 5,492 2,423 16,674 58 5,328 1,756 7,142 Movement in Level 3 financial instruments Assets Liabilities Financial invest-ments Trading assets Designated and otherwise mandatorily measured at fair value through profit or loss Derivatives Trading liabilities Designated at fair value Derivatives Footnotes $m $m $m $m $m $m $m At 1 Jan 2019 2,000 6,759 5,492 2,423 58 5,328 1,756 Total gains/(losses) recognised in profit or loss 6 (112 ) 598 278 (4 ) 195 930 – net income from financial instruments held for trading or managed on a fair value basis — (112 ) — 278 (4 ) — 930 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 598 — — 195 — – gains less losses from financial investments at fair value through other comprehensive income 10 — — — — — — – expected credit loss charges and other credit risk charges (4 ) — — — — — — Total gains/(losses) recognised in other comprehensive income (‘OCI’) 1 269 76 (1 ) 49 1 18 52 – financial investments: fair value gains/(losses) 261 — — — — — — – exchange differences 8 76 (1 ) 49 1 18 52 Purchases 271 2,206 2,353 — 8 157 — New issuances — 154 — — 6 1,601 — Sales (10 ) (895 ) (276 ) — (9 ) (193 ) — Settlements (329 ) (2,107 ) (434 ) (100 ) (7 ) (1,048 ) (162 ) Transfers out (471 ) (1,558 ) (23 ) (710 ) (9 ) (1,079 ) (473 ) Transfers in 287 456 40 196 9 37 199 At 31 Dec 2019 2,023 4,979 7,749 2,136 53 5,016 2,302 Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at 31 Dec 2019 (4 ) (22 ) 477 279 — 57 (407 ) – net income from financial instruments held — (22 ) — 279 — — (407 ) – changes in fair value of other financial — — 477 — — 57 — – loan impairment recoveries and other credit (4 ) — — — — — — Movement in Level 3 financial instruments (continued) Assets Liabilities Financial invest-ments Trading assets Designated and otherwise mandatorily measured at fair value through profit or loss Derivatives Trading liabilities Designated at fair value Derivatives Footnotes $m $m $m $m $m $m $m At 1 Jan 2018 1,767 5,080 3,958 2,444 93 4,107 1,949 Total gains/(losses) recognised in profit or loss 251 284 608 597 (4 ) (637 ) 255 – net income from financial instruments held for trading or managed on a fair value basis — 284 — 597 (4 ) — 255 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 608 — — (637 ) — – gains less losses from financial investments at fair value through other comprehensive income 251 — — — — — — Total gains/(losses) recognised in other comprehensive income (‘OCI’) 1 17 (274 ) (107 ) (113 ) (3 ) (144 ) (82 ) – financial investments: fair value gains/(losses) 15 — — — — — — – cash flow hedges: fair value gains/(losses) — — 6 6 — — 2 – exchange differences 2 (274 ) (113 ) (119 ) (3 ) (144 ) (84 ) Purchases 275 4,377 2,172 — 3 76 — New issuances — 975 — — 6 2,442 — Sales (51 ) (1,589 ) (395 ) — (11 ) — — Settlements (141 ) (2,021 ) (541 ) (191 ) (2 ) (32 ) (18 ) Transfers out (685 ) (1,402 ) (285 ) (337 ) (24 ) (1,112 ) (464 ) Transfers in 567 1,329 82 23 — 628 116 At 31 Dec 2018 2,000 6,759 5,492 2,423 58 5,328 1,756 Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at 31 Dec 2018 — (5 ) 199 342 (5 ) 274 (351 ) – net income from financial instruments held for trading or managed on a fair value basis — (5 ) — 342 (5 ) — (351 ) – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 199 — — 274 — – loan impairment recoveries and other credit risk provisions — — — — — — — 1 Included in ‘financial investments: fair value gains/(losses)’ in the current year and ‘exchange differences’ in the consolidated statement of comprehensive income. Basis of valuing HSBC Holdings’ financial assets and liabilities measured at fair value 2019 2018 Footnotes $m $m Valuation technique using observable inputs: Level 2 Assets at 31 Dec – derivatives 2,002 707 – financial investments — — – designated and otherwise mandatorily measured at fair value through profit or loss 1 61,964 23,513 Liabilities at 31 Dec – designated at fair value 30,303 25,049 – derivatives 2,021 2,159 1 In 2019, due to the restructuring of the Group’s Asia and UK operations to meet resolution and recovery requirements, changes in the terms of financial assets have resulted in the derecognition of principal amounts of $33.3b n, relating to financial assets measured at amortised cost. Under the revised terms, financial assets with principal amounts of $33.3b n (2018: nil ) measured on fair value basis have been recognised. Fair values of financial instruments not carried at fair value and bases of valuation Fair value Carrying Quoted market Observable Significant Total $m $m $m $m $m At 31 Dec 2019 Assets Loans and advances to banks 69,203 — 68,508 739 69,247 Loans and advances to customers 1,036,743 — 10,365 1,027,178 1,037,543 Reverse repurchase agreements – non-trading 240,862 16 240,199 691 240,906 Financial investments – at amortised cost 85,735 26,202 62,572 287 89,061 Liabilities Deposits by banks 59,022 — 58,951 — 58,951 Customer accounts 1,439,115 — 1,439,362 150 1,439,512 Repurchase agreements – non-trading 140,344 — 140,344 — 140,344 Debt securities in issue 104,555 — 104,936 — 104,936 Subordinated liabilities 24,600 — 28,861 385 29,246 At 31 Dec 2018 Assets Loans and advances to banks 72,167 — 68,378 3,791 72,169 Loans and advances to customers 981,696 — 10,518 974,559 985,077 Reverse repurchase agreements – non-trading 242,804 81 241,407 1,369 242,857 Financial investments – at amortised cost 62,666 1,790 60,073 216 62,079 Liabilities Deposits by banks 56,331 — 56,308 — 56,308 Customer accounts 1,362,643 — 1,362,794 151 1,362,945 Repurchase agreements – non-trading 165,884 — 165,884 — 165,884 Debt securities in issue 85,342 — 85,430 — 85,430 Subordinated liabilities 22,437 — 24,968 373 25,341 Fair values of HSBC Holdings’ financial instruments not carried at fair value on the balance sheet 2019 2018 Carrying amount Fair value 1 Carrying amount Fair value 1 Footnotes $m $m $m $m Assets at 31 Dec Loans and advances to HSBC undertakings 10,218 10,504 56,144 56,801 Financial investments – at amortised cost 2 16,106 16,121 Liabilities at 31 Dec Amounts owed to HSBC undertakings 464 464 949 949 Debt securities in issue 56,844 59,140 50,800 51,552 Subordinated liabilities 18,361 22,536 17,715 20,224 1 Fair values (other than Level 1 financial investments) were determined using valuation techniques with observable inputs (Level 2). 2 The 2019 period includes $16.1b n (2018: nil ) of investments in highly liquid securities. |
Disclosure of fair value adjustments on financial instruments | Global Banking and Markets and Corporate Centre fair value adjustments 2019 2018 GB&M Corporate Centre GB&M Corporate Centre $m $m $m $m Type of adjustment Risk-related 1,040 125 1,042 138 – bid-offer 428 79 430 76 – uncertainty 115 1 99 6 – credit valuation adjustment 355 38 442 52 – debt valuation adjustment (126 ) — (198 ) — – funding fair value adjustment 241 7 256 4 – other 27 — 13 — Model-related 71 3 79 3 – model limitation 68 3 79 3 – other 3 — — — Inception profit (Day 1 P&L reserves) 72 — 85 — At 31 Dec 1,183 128 1,206 141 |
Disclosure of the effect of changes in significant unobservable assumptions to reasonably possible alternatives | Sensitivity of Level 3 fair values to reasonably possible alternative assumptions 2019 2018 Reflected in profit or loss Reflected in OCI Reflected in profit or loss Reflected in OCI Favourable Un- Favourable Un- Favourable Un- Favourable Un- Footnotes $m $m $m $m $m $m $m $m Derivatives, trading assets and trading liabilities 1 255 (230 ) — — 269 (257 ) — — Designated and otherwise mandatorily measured at fair value through profit or loss 532 (417 ) — — 394 (310 ) — — Financial investments 48 (53 ) 22 (22 ) 34 (36 ) 23 (22 ) At 31 Dec 835 (700 ) 22 (22 ) 697 (603 ) 23 (22 ) 1 Derivatives, trading assets and trading liabilities are presented as one category to reflect the manner in which these instruments are risk managed. |
Disclosure of significant unobservable inputs used in fair value measurement of assets | The following table lists key unobservable inputs to Level 3 financial instruments and provides the range of those inputs at 31 December 2019 . The core range of inputs is the estimated range within which 90% of the inputs fall. Quantitative information about significant unobservable inputs in Level 3 valuations Fair value 2019 2018 Assets Liabilities Valuation Key unobservable Full range Core range 1 Full range Core range 1 Footnotes $m $m Lower Higher Lower Higher Lower Higher Lower Higher Private equity including 8,009 4 See below See below n/a n/a n/a n/a n/a n/a n/a n/a Asset-backed securities 2 1,836 — – CLO/CDO 373 — Market proxy Prepayment rate 0% 9% 0% 9% 0% 10% 0% 10% Market proxy Bid quotes 0 100 0 100 0 100 50 100 – other ABSs 1,463 — Market proxy Bid quotes 0 101 61 98 0 271 71 99 Loans held for securitisation 40 — Structured notes 3 5,063 – equity-linked notes — 3,768 Model – Equity volatility 5% 90% 6% 56% 8% 79% 13% 53% Model – Option model Equity correlation 9% 93% 9% 93% 17% 93% 40% 77% – FX-linked notes — 1,046 Model – Option model FX volatility 1% 23% 3% 22% 1% 27% 3% 25% – other 3 249 Derivatives with monolines 66 — Model – Discounted Credit spread 0.4% 2% 0.4% 2% 0.2% 1% 0.2% 1% Other derivatives 2,070 2,302 – Interest rate derivatives: securitisation swaps 314 640 Model – Discounted Prepayment 6% 7% 6% 7% 6% 7% 6% 7% long-dated swaptions 838 51 Model – Option model IR volatility 8% 22% 8% 21% 13% 39% 14% 36% other 255 155 – FX derivatives: FX options 93 218 Model – Option model FX volatility 1% 25% 5% 11% 1% 27% 7% 12% other 119 104 – Equity derivatives: long-dated single stock options 230 293 Model – Option model Equity volatility 0% 89% 7% 74% 5% 83% 5% 81% other 78 712 – Credit derivatives: other 143 129 Other portfolios 4,863 2 – structured certificates 1,515 — Model – Discounted cash flow Credit volatility 4% 4% 4% 4% 2% 4% 2% 4% – repurchase agreements 1,604 — – other 3 1,744 2 At 31 Dec 2019 16,887 7,371 1 The core range of inputs is the estimated range within which 90% of the inputs fall. 2 Collateralised loan obligation/collateralised debt obligation. 3 ‘Other’ includes a range of smaller asset holdings. |
Disclosure of significant unobservable inputs used in fair value measurement of liabilities | The following table lists key unobservable inputs to Level 3 financial instruments and provides the range of those inputs at 31 December 2019 . The core range of inputs is the estimated range within which 90% of the inputs fall. Quantitative information about significant unobservable inputs in Level 3 valuations Fair value 2019 2018 Assets Liabilities Valuation Key unobservable Full range Core range 1 Full range Core range 1 Footnotes $m $m Lower Higher Lower Higher Lower Higher Lower Higher Private equity including 8,009 4 See below See below n/a n/a n/a n/a n/a n/a n/a n/a Asset-backed securities 2 1,836 — – CLO/CDO 373 — Market proxy Prepayment rate 0% 9% 0% 9% 0% 10% 0% 10% Market proxy Bid quotes 0 100 0 100 0 100 50 100 – other ABSs 1,463 — Market proxy Bid quotes 0 101 61 98 0 271 71 99 Loans held for securitisation 40 — Structured notes 3 5,063 – equity-linked notes — 3,768 Model – Equity volatility 5% 90% 6% 56% 8% 79% 13% 53% Model – Option model Equity correlation 9% 93% 9% 93% 17% 93% 40% 77% – FX-linked notes — 1,046 Model – Option model FX volatility 1% 23% 3% 22% 1% 27% 3% 25% – other 3 249 Derivatives with monolines 66 — Model – Discounted Credit spread 0.4% 2% 0.4% 2% 0.2% 1% 0.2% 1% Other derivatives 2,070 2,302 – Interest rate derivatives: securitisation swaps 314 640 Model – Discounted Prepayment 6% 7% 6% 7% 6% 7% 6% 7% long-dated swaptions 838 51 Model – Option model IR volatility 8% 22% 8% 21% 13% 39% 14% 36% other 255 155 – FX derivatives: FX options 93 218 Model – Option model FX volatility 1% 25% 5% 11% 1% 27% 7% 12% other 119 104 – Equity derivatives: long-dated single stock options 230 293 Model – Option model Equity volatility 0% 89% 7% 74% 5% 83% 5% 81% other 78 712 – Credit derivatives: other 143 129 Other portfolios 4,863 2 – structured certificates 1,515 — Model – Discounted cash flow Credit volatility 4% 4% 4% 4% 2% 4% 2% 4% – repurchase agreements 1,604 — – other 3 1,744 2 At 31 Dec 2019 16,887 7,371 1 The core range of inputs is the estimated range within which 90% of the inputs fall. 2 Collateralised loan obligation/collateralised debt obligation. 3 ‘Other’ includes a range of smaller asset holdings. |
Fair values of financial inst_4
Fair values of financial instruments not carried at fair value (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Fair Value Measurement [Abstract] | |
Fair values of financial instruments not carried at fair value and bases of valuation - assets | Financial instruments carried at fair value and bases of valuation 2019 2018 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total $m $m $m $m $m $m $m $m Recurring fair value measurements Assets Trading assets 186,653 62,639 4,979 254,271 178,100 53,271 6,759 238,130 Financial assets designated and otherwise mandatorily measured at fair value through profit or loss 26,505 9,373 7,749 43,627 23,125 12,494 5,492 41,111 Derivatives 1,728 239,131 2,136 242,995 1,868 203,534 2,423 207,825 Financial investments 271,467 84,087 2,023 357,577 263,885 78,882 2,000 344,767 Liabilities Trading liabilities 66,925 16,192 53 83,170 66,300 18,073 58 84,431 Financial liabilities designated at fair value 9,549 149,901 5,016 164,466 6,815 136,362 5,328 148,505 Derivatives 1,331 235,864 2,302 239,497 2,845 201,234 1,756 205,835 Transfers between Level 1 and Level 2 fair values Assets Liabilities Financial investments Trading assets Designated Derivatives Trading liabilities Designated at fair value Derivatives $m $m $m $m $m $m $m At 31 Dec 2019 Transfers from Level 1 to Level 2 5,257 3,304 1,332 24 278 — — Transfers from Level 2 to Level 1 3,486 2,726 673 111 220 — 117 At 31 Dec 2018 Transfers from Level 1 to Level 2 367 435 2 1 79 — — Transfers from Level 2 to Level 1 17,861 4,959 85 128 1,821 — 138 Financial instruments measured at fair value using a valuation technique with significant unobservable inputs – Level 3 Assets Liabilities Financial investments Trading assets Designated and otherwise mandatorily measured at fair value through profit or loss Derivatives Total Trading liabilities Designated at fair value Derivatives Total $m $m $m $m $m $m $m $m $m Private equity including strategic investments 716 4 7,289 — 8,009 4 — — 4 Asset-backed securities 874 934 28 — 1,836 — — — — Loans held for securitisation — 1 39 — 40 — — — — Structured notes — 3 — — 3 47 5,016 — 5,063 Derivatives with monolines — — — 66 66 — — — — Other derivatives — — — 2,070 2,070 — — 2,302 2,302 Other portfolios 433 4,037 393 — 4,863 2 — — 2 At 31 Dec 2019 2,023 4,979 7,749 2,136 16,887 53 5,016 2,302 7,371 Private equity including strategic investments 427 20 5,106 — 5,553 12 — — 12 Asset-backed securities 1,030 1,140 32 — 2,202 — — — — Loans held for securitisation — — 49 — 49 — — — — Structured notes — 3 — — 3 46 5,328 — 5,374 Derivatives with monolines — — — 65 65 — — — — Other derivatives — — — 2,358 2,358 — — 1,755 1,755 Other portfolios 543 5,596 305 — 6,444 — — 1 1 At 31 Dec 2018 2,000 6,759 5,492 2,423 16,674 58 5,328 1,756 7,142 Movement in Level 3 financial instruments Assets Liabilities Financial invest-ments Trading assets Designated and otherwise mandatorily measured at fair value through profit or loss Derivatives Trading liabilities Designated at fair value Derivatives Footnotes $m $m $m $m $m $m $m At 1 Jan 2019 2,000 6,759 5,492 2,423 58 5,328 1,756 Total gains/(losses) recognised in profit or loss 6 (112 ) 598 278 (4 ) 195 930 – net income from financial instruments held for trading or managed on a fair value basis — (112 ) — 278 (4 ) — 930 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 598 — — 195 — – gains less losses from financial investments at fair value through other comprehensive income 10 — — — — — — – expected credit loss charges and other credit risk charges (4 ) — — — — — — Total gains/(losses) recognised in other comprehensive income (‘OCI’) 1 269 76 (1 ) 49 1 18 52 – financial investments: fair value gains/(losses) 261 — — — — — — – exchange differences 8 76 (1 ) 49 1 18 52 Purchases 271 2,206 2,353 — 8 157 — New issuances — 154 — — 6 1,601 — Sales (10 ) (895 ) (276 ) — (9 ) (193 ) — Settlements (329 ) (2,107 ) (434 ) (100 ) (7 ) (1,048 ) (162 ) Transfers out (471 ) (1,558 ) (23 ) (710 ) (9 ) (1,079 ) (473 ) Transfers in 287 456 40 196 9 37 199 At 31 Dec 2019 2,023 4,979 7,749 2,136 53 5,016 2,302 Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at 31 Dec 2019 (4 ) (22 ) 477 279 — 57 (407 ) – net income from financial instruments held — (22 ) — 279 — — (407 ) – changes in fair value of other financial — — 477 — — 57 — – loan impairment recoveries and other credit (4 ) — — — — — — Movement in Level 3 financial instruments (continued) Assets Liabilities Financial invest-ments Trading assets Designated and otherwise mandatorily measured at fair value through profit or loss Derivatives Trading liabilities Designated at fair value Derivatives Footnotes $m $m $m $m $m $m $m At 1 Jan 2018 1,767 5,080 3,958 2,444 93 4,107 1,949 Total gains/(losses) recognised in profit or loss 251 284 608 597 (4 ) (637 ) 255 – net income from financial instruments held for trading or managed on a fair value basis — 284 — 597 (4 ) — 255 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 608 — — (637 ) — – gains less losses from financial investments at fair value through other comprehensive income 251 — — — — — — Total gains/(losses) recognised in other comprehensive income (‘OCI’) 1 17 (274 ) (107 ) (113 ) (3 ) (144 ) (82 ) – financial investments: fair value gains/(losses) 15 — — — — — — – cash flow hedges: fair value gains/(losses) — — 6 6 — — 2 – exchange differences 2 (274 ) (113 ) (119 ) (3 ) (144 ) (84 ) Purchases 275 4,377 2,172 — 3 76 — New issuances — 975 — — 6 2,442 — Sales (51 ) (1,589 ) (395 ) — (11 ) — — Settlements (141 ) (2,021 ) (541 ) (191 ) (2 ) (32 ) (18 ) Transfers out (685 ) (1,402 ) (285 ) (337 ) (24 ) (1,112 ) (464 ) Transfers in 567 1,329 82 23 — 628 116 At 31 Dec 2018 2,000 6,759 5,492 2,423 58 5,328 1,756 Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at 31 Dec 2018 — (5 ) 199 342 (5 ) 274 (351 ) – net income from financial instruments held for trading or managed on a fair value basis — (5 ) — 342 (5 ) — (351 ) – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 199 — — 274 — – loan impairment recoveries and other credit risk provisions — — — — — — — 1 Included in ‘financial investments: fair value gains/(losses)’ in the current year and ‘exchange differences’ in the consolidated statement of comprehensive income. Basis of valuing HSBC Holdings’ financial assets and liabilities measured at fair value 2019 2018 Footnotes $m $m Valuation technique using observable inputs: Level 2 Assets at 31 Dec – derivatives 2,002 707 – financial investments — — – designated and otherwise mandatorily measured at fair value through profit or loss 1 61,964 23,513 Liabilities at 31 Dec – designated at fair value 30,303 25,049 – derivatives 2,021 2,159 1 In 2019, due to the restructuring of the Group’s Asia and UK operations to meet resolution and recovery requirements, changes in the terms of financial assets have resulted in the derecognition of principal amounts of $33.3b n, relating to financial assets measured at amortised cost. Under the revised terms, financial assets with principal amounts of $33.3b n (2018: nil ) measured on fair value basis have been recognised. Fair values of financial instruments not carried at fair value and bases of valuation Fair value Carrying Quoted market Observable Significant Total $m $m $m $m $m At 31 Dec 2019 Assets Loans and advances to banks 69,203 — 68,508 739 69,247 Loans and advances to customers 1,036,743 — 10,365 1,027,178 1,037,543 Reverse repurchase agreements – non-trading 240,862 16 240,199 691 240,906 Financial investments – at amortised cost 85,735 26,202 62,572 287 89,061 Liabilities Deposits by banks 59,022 — 58,951 — 58,951 Customer accounts 1,439,115 — 1,439,362 150 1,439,512 Repurchase agreements – non-trading 140,344 — 140,344 — 140,344 Debt securities in issue 104,555 — 104,936 — 104,936 Subordinated liabilities 24,600 — 28,861 385 29,246 At 31 Dec 2018 Assets Loans and advances to banks 72,167 — 68,378 3,791 72,169 Loans and advances to customers 981,696 — 10,518 974,559 985,077 Reverse repurchase agreements – non-trading 242,804 81 241,407 1,369 242,857 Financial investments – at amortised cost 62,666 1,790 60,073 216 62,079 Liabilities Deposits by banks 56,331 — 56,308 — 56,308 Customer accounts 1,362,643 — 1,362,794 151 1,362,945 Repurchase agreements – non-trading 165,884 — 165,884 — 165,884 Debt securities in issue 85,342 — 85,430 — 85,430 Subordinated liabilities 22,437 — 24,968 373 25,341 Fair values of HSBC Holdings’ financial instruments not carried at fair value on the balance sheet 2019 2018 Carrying amount Fair value 1 Carrying amount Fair value 1 Footnotes $m $m $m $m Assets at 31 Dec Loans and advances to HSBC undertakings 10,218 10,504 56,144 56,801 Financial investments – at amortised cost 2 16,106 16,121 Liabilities at 31 Dec Amounts owed to HSBC undertakings 464 464 949 949 Debt securities in issue 56,844 59,140 50,800 51,552 Subordinated liabilities 18,361 22,536 17,715 20,224 1 Fair values (other than Level 1 financial investments) were determined using valuation techniques with observable inputs (Level 2). 2 The 2019 period includes $16.1b n (2018: nil ) of investments in highly liquid securities. |
Fair values of financial instruments not carried at fair value and bases of valuation - liabilities | Financial instruments carried at fair value and bases of valuation 2019 2018 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total $m $m $m $m $m $m $m $m Recurring fair value measurements Assets Trading assets 186,653 62,639 4,979 254,271 178,100 53,271 6,759 238,130 Financial assets designated and otherwise mandatorily measured at fair value through profit or loss 26,505 9,373 7,749 43,627 23,125 12,494 5,492 41,111 Derivatives 1,728 239,131 2,136 242,995 1,868 203,534 2,423 207,825 Financial investments 271,467 84,087 2,023 357,577 263,885 78,882 2,000 344,767 Liabilities Trading liabilities 66,925 16,192 53 83,170 66,300 18,073 58 84,431 Financial liabilities designated at fair value 9,549 149,901 5,016 164,466 6,815 136,362 5,328 148,505 Derivatives 1,331 235,864 2,302 239,497 2,845 201,234 1,756 205,835 Transfers between Level 1 and Level 2 fair values Assets Liabilities Financial investments Trading assets Designated Derivatives Trading liabilities Designated at fair value Derivatives $m $m $m $m $m $m $m At 31 Dec 2019 Transfers from Level 1 to Level 2 5,257 3,304 1,332 24 278 — — Transfers from Level 2 to Level 1 3,486 2,726 673 111 220 — 117 At 31 Dec 2018 Transfers from Level 1 to Level 2 367 435 2 1 79 — — Transfers from Level 2 to Level 1 17,861 4,959 85 128 1,821 — 138 Financial instruments measured at fair value using a valuation technique with significant unobservable inputs – Level 3 Assets Liabilities Financial investments Trading assets Designated and otherwise mandatorily measured at fair value through profit or loss Derivatives Total Trading liabilities Designated at fair value Derivatives Total $m $m $m $m $m $m $m $m $m Private equity including strategic investments 716 4 7,289 — 8,009 4 — — 4 Asset-backed securities 874 934 28 — 1,836 — — — — Loans held for securitisation — 1 39 — 40 — — — — Structured notes — 3 — — 3 47 5,016 — 5,063 Derivatives with monolines — — — 66 66 — — — — Other derivatives — — — 2,070 2,070 — — 2,302 2,302 Other portfolios 433 4,037 393 — 4,863 2 — — 2 At 31 Dec 2019 2,023 4,979 7,749 2,136 16,887 53 5,016 2,302 7,371 Private equity including strategic investments 427 20 5,106 — 5,553 12 — — 12 Asset-backed securities 1,030 1,140 32 — 2,202 — — — — Loans held for securitisation — — 49 — 49 — — — — Structured notes — 3 — — 3 46 5,328 — 5,374 Derivatives with monolines — — — 65 65 — — — — Other derivatives — — — 2,358 2,358 — — 1,755 1,755 Other portfolios 543 5,596 305 — 6,444 — — 1 1 At 31 Dec 2018 2,000 6,759 5,492 2,423 16,674 58 5,328 1,756 7,142 Movement in Level 3 financial instruments Assets Liabilities Financial invest-ments Trading assets Designated and otherwise mandatorily measured at fair value through profit or loss Derivatives Trading liabilities Designated at fair value Derivatives Footnotes $m $m $m $m $m $m $m At 1 Jan 2019 2,000 6,759 5,492 2,423 58 5,328 1,756 Total gains/(losses) recognised in profit or loss 6 (112 ) 598 278 (4 ) 195 930 – net income from financial instruments held for trading or managed on a fair value basis — (112 ) — 278 (4 ) — 930 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 598 — — 195 — – gains less losses from financial investments at fair value through other comprehensive income 10 — — — — — — – expected credit loss charges and other credit risk charges (4 ) — — — — — — Total gains/(losses) recognised in other comprehensive income (‘OCI’) 1 269 76 (1 ) 49 1 18 52 – financial investments: fair value gains/(losses) 261 — — — — — — – exchange differences 8 76 (1 ) 49 1 18 52 Purchases 271 2,206 2,353 — 8 157 — New issuances — 154 — — 6 1,601 — Sales (10 ) (895 ) (276 ) — (9 ) (193 ) — Settlements (329 ) (2,107 ) (434 ) (100 ) (7 ) (1,048 ) (162 ) Transfers out (471 ) (1,558 ) (23 ) (710 ) (9 ) (1,079 ) (473 ) Transfers in 287 456 40 196 9 37 199 At 31 Dec 2019 2,023 4,979 7,749 2,136 53 5,016 2,302 Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at 31 Dec 2019 (4 ) (22 ) 477 279 — 57 (407 ) – net income from financial instruments held — (22 ) — 279 — — (407 ) – changes in fair value of other financial — — 477 — — 57 — – loan impairment recoveries and other credit (4 ) — — — — — — Movement in Level 3 financial instruments (continued) Assets Liabilities Financial invest-ments Trading assets Designated and otherwise mandatorily measured at fair value through profit or loss Derivatives Trading liabilities Designated at fair value Derivatives Footnotes $m $m $m $m $m $m $m At 1 Jan 2018 1,767 5,080 3,958 2,444 93 4,107 1,949 Total gains/(losses) recognised in profit or loss 251 284 608 597 (4 ) (637 ) 255 – net income from financial instruments held for trading or managed on a fair value basis — 284 — 597 (4 ) — 255 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 608 — — (637 ) — – gains less losses from financial investments at fair value through other comprehensive income 251 — — — — — — Total gains/(losses) recognised in other comprehensive income (‘OCI’) 1 17 (274 ) (107 ) (113 ) (3 ) (144 ) (82 ) – financial investments: fair value gains/(losses) 15 — — — — — — – cash flow hedges: fair value gains/(losses) — — 6 6 — — 2 – exchange differences 2 (274 ) (113 ) (119 ) (3 ) (144 ) (84 ) Purchases 275 4,377 2,172 — 3 76 — New issuances — 975 — — 6 2,442 — Sales (51 ) (1,589 ) (395 ) — (11 ) — — Settlements (141 ) (2,021 ) (541 ) (191 ) (2 ) (32 ) (18 ) Transfers out (685 ) (1,402 ) (285 ) (337 ) (24 ) (1,112 ) (464 ) Transfers in 567 1,329 82 23 — 628 116 At 31 Dec 2018 2,000 6,759 5,492 2,423 58 5,328 1,756 Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at 31 Dec 2018 — (5 ) 199 342 (5 ) 274 (351 ) – net income from financial instruments held for trading or managed on a fair value basis — (5 ) — 342 (5 ) — (351 ) – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 199 — — 274 — – loan impairment recoveries and other credit risk provisions — — — — — — — 1 Included in ‘financial investments: fair value gains/(losses)’ in the current year and ‘exchange differences’ in the consolidated statement of comprehensive income. Basis of valuing HSBC Holdings’ financial assets and liabilities measured at fair value 2019 2018 Footnotes $m $m Valuation technique using observable inputs: Level 2 Assets at 31 Dec – derivatives 2,002 707 – financial investments — — – designated and otherwise mandatorily measured at fair value through profit or loss 1 61,964 23,513 Liabilities at 31 Dec – designated at fair value 30,303 25,049 – derivatives 2,021 2,159 1 In 2019, due to the restructuring of the Group’s Asia and UK operations to meet resolution and recovery requirements, changes in the terms of financial assets have resulted in the derecognition of principal amounts of $33.3b n, relating to financial assets measured at amortised cost. Under the revised terms, financial assets with principal amounts of $33.3b n (2018: nil ) measured on fair value basis have been recognised. Fair values of financial instruments not carried at fair value and bases of valuation Fair value Carrying Quoted market Observable Significant Total $m $m $m $m $m At 31 Dec 2019 Assets Loans and advances to banks 69,203 — 68,508 739 69,247 Loans and advances to customers 1,036,743 — 10,365 1,027,178 1,037,543 Reverse repurchase agreements – non-trading 240,862 16 240,199 691 240,906 Financial investments – at amortised cost 85,735 26,202 62,572 287 89,061 Liabilities Deposits by banks 59,022 — 58,951 — 58,951 Customer accounts 1,439,115 — 1,439,362 150 1,439,512 Repurchase agreements – non-trading 140,344 — 140,344 — 140,344 Debt securities in issue 104,555 — 104,936 — 104,936 Subordinated liabilities 24,600 — 28,861 385 29,246 At 31 Dec 2018 Assets Loans and advances to banks 72,167 — 68,378 3,791 72,169 Loans and advances to customers 981,696 — 10,518 974,559 985,077 Reverse repurchase agreements – non-trading 242,804 81 241,407 1,369 242,857 Financial investments – at amortised cost 62,666 1,790 60,073 216 62,079 Liabilities Deposits by banks 56,331 — 56,308 — 56,308 Customer accounts 1,362,643 — 1,362,794 151 1,362,945 Repurchase agreements – non-trading 165,884 — 165,884 — 165,884 Debt securities in issue 85,342 — 85,430 — 85,430 Subordinated liabilities 22,437 — 24,968 373 25,341 Fair values of HSBC Holdings’ financial instruments not carried at fair value on the balance sheet 2019 2018 Carrying amount Fair value 1 Carrying amount Fair value 1 Footnotes $m $m $m $m Assets at 31 Dec Loans and advances to HSBC undertakings 10,218 10,504 56,144 56,801 Financial investments – at amortised cost 2 16,106 16,121 Liabilities at 31 Dec Amounts owed to HSBC undertakings 464 464 949 949 Debt securities in issue 56,844 59,140 50,800 51,552 Subordinated liabilities 18,361 22,536 17,715 20,224 1 Fair values (other than Level 1 financial investments) were determined using valuation techniques with observable inputs (Level 2). 2 The 2019 period includes $16.1b n (2018: nil ) of investments in highly liquid securities. |
Financial assets designated a_2
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Financial Instruments [Abstract] | |
Schedules of financial investments | 2019 2018 Footnotes $m $m Treasury and other eligible bills 21,789 22,674 Debt securities 126,043 130,539 Equity securities 78,827 60,896 Trading securities 226,659 214,109 Loans and advances to banks 1 8,402 10,425 Loans and advances to customers 1 19,210 13,596 Year ended 31 Dec 254,271 238,130 1 Loans and advances to banks and customers include reverse repos, stock borrowing and other accounts. Trading securities 1 2019 2018 Footnotes $m $m US Treasury and US Government agencies 2 25,722 34,664 UK Government 10,040 9,710 Hong Kong Government 9,783 10,772 Other governments 72,456 66,530 Asset-backed securities 3 4,691 3,351 Corporate debt and other securities 25,140 28,186 Equity securities 78,827 60,896 At 31 Dec 226,659 214,109 1 Included within these figures are debt securities issued by banks and other financial institutions of $17,846m (2018: $18,918m ), of which $2,637m (2018: $2,367m ) are guaranteed by various governments. 2 Includes securities that are supported by an explicit guarantee issued by the US Government. 3 Excludes asset-backed securities included under US Treasury and US Government agencies. 2019 2018 Designated at fair value Mandatorily measured at fair value Total Designated at fair value Mandatorily measured at fair value Total $m $m $m $m $m $m Securities 2,344 35,808 38,152 2,349 30,217 32,566 – treasury and other eligible bills 630 31 661 641 29 670 – debt securities 1,714 4,838 6,552 1,708 4,839 6,547 – equity securities — 30,939 30,939 — 25,349 25,349 Loans and advances to banks and customers 1 4,555 4,556 — 7,717 7,717 Other — 919 919 — 828 828 At 31 Dec 2,345 41,282 43,627 2,349 38,762 41,111 Securities 1 2019 2018 Designated at fair value Mandatorily measured at fair value Total Designated at fair value Mandatorily measured at fair value Total Footnotes $m $m $m $m $m $m Hong Kong Government 4 — 4 4 — 4 Other governments 666 754 1,420 673 713 1,386 Asset-backed securities 2 — 363 363 — 399 399 Corporate debt and other securities 1,674 3,752 5,426 1,672 3,756 5,428 Equities — 30,939 30,939 — 25,349 25,349 At 31 Dec 2,344 35,808 38,152 2,349 30,217 32,566 1 Included within these figures are debt securities issued by banks and other financial institutions of $ 366 m ( 2018 re-presented: $ 676 m), of which nil ( 2018 : nil ) are guaranteed by various governments. 2 Excludes asset-backed securities included under US Treasury and US Government agencies. Financial investments at amortised cost and fair value 2019 2018 Amortised cost Fair value 1 Amortised cost Fair value 1 Footnotes $m $m $m $m US Treasury 79,633 80,589 54,941 54,763 US Government agencies 2 26,356 26,387 21,058 20,580 US Government-sponsored entities 2 8,070 8,259 12,867 12,701 UK Government 28,621 28,973 20,576 21,083 Hong Kong Government 47,824 47,820 49,956 49,955 Other governments 140,510 142,511 142,495 144,099 Asset-backed securities 3 2,954 2,889 3,579 3,390 Corporate debt and other securities 101,750 107,364 97,286 98,419 Equities 1,241 1,913 1,353 1,657 At 31 Dec 436,959 446,705 404,111 406,647 1 Included within ‘fair value’ figures are debt securities issued by banks and other financial institutions of $ 61 bn ( 2018 : $56 bn), of which $ 11 bn ( 2018 : $8 bn) are guaranteed by various governments. 2 Includes securities that are supported by an explicit guarantee issued by the US Government. 3 Excludes asset-backed securities included under US Government agencies and sponsored entities. Maturities of investments in debt securities at their carrying amount Up to 1 year 1 to 5 years 5 to 10 years Over 10 years Total $m $m $m $m $m Debt securities measured at fair value through other comprehensive income 61,833 123,740 42,831 32,132 260,536 Debt securities measured at amortised cost 5,472 14,395 21,431 33,961 75,259 At 31 Dec 2019 67,305 138,135 64,262 66,093 335,795 Debt securities measured at fair value through other comprehensive income 61,598 124,075 36,194 24,504 246,371 Debt securities measured at amortised cost 2,519 10,086 16,065 33,317 61,987 At 31 Dec 2018 64,117 134,161 52,259 57,821 308,358 Contractual maturities and weighted average yields of investment debt securities Up to 1 year 1 to 5 years 5 to 10 years Over 10 years Amount Yield Amount Yield Amount Yield Amount Yield $m % $m % $m % $m % Debt securities measured at fair value through other comprehensive income US Treasury 6,322 2.1 26,834 2.0 18,208 2.0 3,268 2.9 US Government agencies — — 79 2.2 1 4.7 15,581 2.6 US Government-sponsored agencies 725 2.8 167 3.1 1,940 2.8 2,191 3.0 UK Government 4,681 1.3 4,393 1.1 4,443 0.2 2,811 2.8 Hong Kong Government 559 1.3 145 1.8 152 3.2 — — Other governments 39,144 2.3 54,689 2.8 11,478 1.7 1,862 3.6 Asset-backed securities 18 2.7 1 0.5 325 3.1 2,610 2.2 Corporate debt and other securities 9,735 2.0 34,921 1.8 4,879 2.2 2,795 3.4 Total amortised cost at 31 Dec 2019 61,184 121,229 41,426 31,118 Total carrying value 61,833 123,740 42,831 32,132 Debt securities measured at amortised cost US Treasury 3,010 1.9 4,879 1.8 2,931 1.9 141 4.2 US Government agencies — — 13 3.8 19 3.5 10,286 2.6 US Government-sponsored agencies — — 482 2.7 551 2.3 2,015 3.2 Hong Kong Government 10 1.6 20 1.6 9 1.4 — — Other governments 128 4.4 552 3.4 487 3.1 832 4.2 Asset-backed securities — — — — — — 2 7.5 Corporate debt and other securities 2,324 3.5 8,449 3.4 17,434 3.3 20,685 3.8 Total amortised cost at 31 Dec 2019 5,472 14,395 21,431 33,961 Total carrying value 5,472 14,395 21,431 33,961 Carrying amount of financial investments 2019 2018 Footnotes $m $m Financial investments measured at fair value through other comprehensive income 357,577 344,767 – treasury and other eligible bills 95,043 96,642 – debt securities 260,536 246,371 – equity securities 1,913 1,657 – other instruments 1 85 97 Debt instruments measured at amortised cost 2 85,735 62,666 – treasury and other eligible bills 10,476 679 – debt securities 75,259 61,987 At 31 Dec 443,312 407,433 1 ‘Other instruments’ comprises of loans and advances. 2 Fair value $89.1 bn ( 2018 : $62.1 bn). Equity instruments measured at fair value through other comprehensive income Fair value Dividends recognised Type of equity instruments $m $m Investments required by central institutions 738 22 Business facilitation 1,124 19 Others 51 9 At 31 Dec 2019 1,913 50 Investments required by central institutions 848 34 Business facilitation 758 21 Others 51 9 At 31 Dec 2018 1,657 64 HSBC Holdings carrying amount of financial investments 2019 2018 Footnotes $m $m Debt instruments measured at amortised cost 1 – treasury and other eligible bills 10,081 — – debt securities 6,025 — At 31 Dec 16,106 — 1 The 2019 period includes $ 16.1b n (2018: nil ) of investments in highly liquid securities. Financial investments at amortised cost and fair value 2019 2018 Amortised cost Fair value Amortised cost Fair value $m $m $m $m US Treasury 16,106 16,121 — — US Government agencies — — — — US Government-sponsored entities — — — — At 31 Dec 16,106 16,121 — — Maturities of investments in debt securities at their carrying amount Up to 1 year 1 to 5 years 5 to 10 years Over 10 years Total $m $m $m $m $m Debt securities measured at amortised cost 3,010 3,015 — — 6,025 At 31 Dec 2019 3,010 3,015 — — 6,025 Debt securities measured at amortised cost — — — — — At 31 Dec 2018 — — — — — Contractual maturities and weighted average yields of investment debt securities Up to 1 year 1 to 5 years 5 to 10 years Over 10 years Amount Yield Amount Yield Amount Yield Amount Yield $m % $m % $m % $m % Debt securities measured at amortised cost US Treasury 3,010 1.9 3,015 1.7 — — — — US Government agencies — — — — — — — — US Government-sponsored agencies — — — — — — — — Total amortised cost at 31 Dec 2019 3,010 3,015 — — Total carrying value 3,010 3,015 — — |
Derivatives (Tables)
Derivatives (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Financial Instruments [Abstract] | |
Disclosure of detailed information about hedging instruments | Notional contract amounts and fair values of derivatives by product contract type held by HSBC Notional contract amount Fair value – Assets Fair value – Liabilities Trading Hedging Trading Hedging Total Trading Hedging Total $m $m $m $m $m $m $m $m Foreign exchange 8,207,629 31,899 84,083 455 84,538 84,498 740 85,238 Interest rate 17,895,349 177,006 183,668 1,208 184,876 175,095 2,031 177,126 Equities 1,077,347 — 9,053 — 9,053 11,237 — 11,237 Credit 345,644 — 4,744 — 4,744 5,597 — 5,597 Commodity and other 93,245 — 1,523 — 1,523 2,038 — 2,038 Gross total fair values 27,619,214 208,905 283,071 1,663 284,734 278,465 2,771 281,236 Offset (Note 30) (41,739 ) (41,739 ) At 31 Dec 2019 27,619,214 208,905 283,071 1,663 242,995 278,465 2,771 239,497 Foreign exchange 7,552,462 29,969 85,959 458 86,417 82,494 653 83,147 Interest rate 24,589,916 163,271 155,293 1,080 156,373 154,257 2,261 156,518 Equities 1,256,550 — 10,198 — 10,198 10,750 — 10,750 Credit 346,596 — 3,414 — 3,414 3,776 — 3,776 Commodity and other 74,159 — 1,134 — 1,134 1,355 — 1,355 Gross total fair values 33,819,683 193,240 255,998 1,538 257,536 252,632 2,914 255,546 Offset (Note 30) (49,711 ) (49,711 ) At 31 Dec 2018 33,819,683 193,240 255,998 1,538 207,825 252,632 2,914 205,835 Notional contract amounts and fair values of derivatives by product contract type held by HSBC Holdings with subsidiaries Notional contract amount Assets Liabilities Trading Hedging Trading Hedging Total Trading Hedging Total $m $m $m $m $m $m $m $m Foreign exchange 24,980 — 161 — 161 766 — 766 Interest rate 48,937 36,769 435 1,406 1,841 1,072 183 1,255 At 31 Dec 2019 73,917 36,769 596 1,406 2,002 1,838 183 2,021 Foreign exchange 16,623 1,120 207 — 207 628 155 783 Interest rate 44,059 38,418 283 217 500 538 838 1,376 At 31 Dec 2018 60,682 39,538 490 217 707 1,166 993 2,159 HSBC Holdings hedging instrument by hedged risk Hedging instrument Carrying amount Notional amount 1,4 Assets Liabilities Balance sheet presentation Change in fair value 2 Hedged risk $m $m $m $m Interest rate 3 36,769 1,406 183 Derivatives 1,704 At 31 Dec 2019 36,769 1,406 183 1,704 1 The notional contract amounts of derivatives designated in qualifying hedge accounting relationships indicate the nominal value of transactions outstanding at the balance sheet date; they do not represent amounts at risk. 2 Used in effectiveness testing; comprising the full fair value change of the hedging instrument not excluding any component. 3 The hedged risk ‘interest rate’ includes foreign exchange risk. 4 The notional amount of non-dynamic fair value hedges is equal to $36,769m , of which the weighted-average maturity date is March 2027 and the weighted-average swap rate is 1.53% . The majority of these hedges are internal to HSBC Group. HSBC hedging instrument by hedged risk Hedging instrument Carrying amount Notional amount 1 Assets Liabilities Balance sheet presentation Change in fair value 2 Hedged risk $m $m $m $m Interest rate 3 122,753 1,056 2,208 Derivatives (1,531 ) At 31 Dec 2019 122,753 1,056 2,208 (1,531 ) Interest rate 3 123,551 915 2,123 Derivatives 283 At 31 Dec 2018 123,551 915 2,123 283 1 The notional contract amounts of derivatives designated in qualifying hedge accounting relationships indicate the nominal value of transactions outstanding at the balance sheet date. They do not represent amounts at risk. 2 Used in effectiveness testing; comprising the full fair value change of the hedging instrument not excluding any component. 3 The hedged risk ‘interest rate’ includes inflation risk. HSBC hedged item by hedged risk Hedged item Ineffectiveness Carrying amount Accumulated fair value hedge adjustments included in carrying amount 2 Change in fair value 1 Recognised in profit and loss Assets Liabilities Assets Liabilities Balance sheet presentation Profit and loss presentation Hedged risk $m $m $m $m $m $m Interest rate 3 90,617 1,859 Financial assets designated and otherwise mandatorily measured at fair value through other comprehensive income 2,304 (7 ) Net income from financial instruments held for trading or managed on a fair value basis 153 4 Loans and advances to banks 5 1,897 12 Loans and advances to customers 24 15,206 797 Debt securities in issue (1,011 ) 3,009 39 Deposits by banks 202 At 31 Dec 2019 92,667 18,215 1,875 836 1,524 (7 ) Hedging instrument by hedged risk Hedging instrument Hedged item Ineffectiveness Carrying amount Change in fair value 2 Change in fair value 3 Recognised in profit and loss Profit and loss presentation Notional amount 1 Assets Liabilities Balance sheet presentation Hedged risk $m $m $m $m $m $m Foreign currency 21,385 455 254 Derivatives 341 341 — Net income from financial instruments held for trading or managed on a fair value basis Interest rate 54,253 152 46 Derivatives 195 193 2 At 31 Dec 2019 75,638 607 300 536 534 2 Foreign currency 24,954 295 653 Derivatives (198 ) (200 ) 2 Net income from financial instruments held for trading or managed on a fair value basis Interest rate 39,720 165 138 Derivatives (77 ) (67 ) (10 ) At 31 Dec 2018 64,674 460 791 (275 ) (267 ) (8 ) 1 The notional contract amounts of derivatives designated in qualifying hedge accounting relationships indicate the nominal value of transactions outstanding at the balance sheet date. They do not represent amounts at risk. 2 Used in effectiveness testing; comprising the full fair value change of the hedging instrument not excluding any component. 3 Used in effectiveness assessment; comprising amount attributable to the designated hedged risk that can be a risk component. |
Disclosure of detailed information about financial instruments | Summary of financial instruments to which the impairment requirements in IFRS 9 are applied (Audited) 31 Dec 2019 At 31 Dec 2018 Gross carrying/nominal amount Allowance for ECL 1 Gross carrying/nominal amount Allowance for ECL 1 Footnotes $m $m $m $m Loans and advances to customers at amortised cost 1,045,475 (8,732 ) 990,321 (8,625 ) – personal 434,271 (3,134 ) 394,337 (2,947 ) – corporate and commercial 540,499 (5,438 ) 534,577 (5,552 ) – non-bank financial institutions 70,705 (160 ) 61,407 (126 ) Loans and advances to banks at amortised cost 69,219 (16 ) 72,180 (13 ) Other financial assets measured at amortised cost 615,179 (118 ) 582,917 (55 ) – cash and balances at central banks 154,101 (2 ) 162,845 (2 ) – items in the course of collection from other banks 4,956 — 5,787 — – Hong Kong Government certificates of indebtedness 38,380 — 35,859 — – reverse repurchase agreements – non-trading 240,862 — 242,804 — – financial investments 85,788 (53 ) 62,684 (18 ) – prepayments, accrued income and other assets 2 91,092 (63 ) 72,938 (35 ) Total gross carrying amount on-balance sheet 1,729,873 (8,866 ) 1,645,418 (8,693 ) Loans and other credit-related commitments 600,029 (329 ) 592,008 (325 ) – personal 223,314 (15 ) 207,351 (13 ) – corporate and commercial 278,524 (307 ) 271,022 (305 ) – non-bank financial institutions 98,191 (7 ) 113,635 (7 ) Financial guarantees 20,214 (48 ) 23,518 (93 ) – personal 804 (1 ) 927 (1 ) – corporate and commercial 14,804 (44 ) 17,355 (85 ) – non-bank financial institutions 4,606 (3 ) 5,236 (7 ) Total nominal amount off-balance sheet 3 620,243 (377 ) 615,526 (418 ) 2,350,116 (9,243 ) 2,260,944 (9,111 ) Fair value Memorandum allowance for ECL 4 Fair value Memorandum allowance for 4 $m $m $m $m Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) 355,664 (166 ) 343,110 (84 ) 1 The total ECL is recognised in the loss allowance for the financial asset unless the total ECL exceeds the gross carrying amount of the financial asset, in which case the ECL is recognised as a provision. 2 Includes only those financial instruments that are subject to the impairment requirements of IFRS 9. ‘Prepayments, accrued income and other assets’, as presented within the consolidated balance sheet on page 262 , includes both financial and non-financial assets. 3 Represents the maximum amount at risk should the contracts be fully drawn upon and clients default. 4 Debt instruments measured at FVOCI continue to be measured at fair value with the allowance for ECL as a memorandum item. Change in ECL is recognised in ‘Change in expected credit losses and other credit impairment charges’ in the income statement Maximum exposure to credit risk (Audited) 2019 2018 Maximum exposure Offset Net Maximum exposure Offset Net $m $m $m $m $m $m Loans and advances to customers held at amortised cost 1,036,743 (28,524 ) 1,008,219 981,696 (29,534 ) 952,162 – personal 431,137 (4,640 ) 426,497 391,390 (3,679 ) 387,711 – corporate and commercial 535,061 (21,745 ) 513,316 529,025 (23,421 ) 505,604 – non-bank financial institutions 70,545 (2,139 ) 68,406 61,281 (2,434 ) 58,847 Loans and advances to banks at amortised cost 69,203 — 69,203 72,167 — 72,167 Other financial assets held at amortised cost 616,648 (28,826 ) 587,822 585,600 (21,788 ) 563,812 – cash and balances at central banks 154,099 — 154,099 162,843 — 162,843 – items in the course of collection from other banks 4,956 — 4,956 5,787 — 5,787 – Hong Kong Government certificates of indebtedness 38,380 — 38,380 35,859 — 35,859 – reverse repurchase agreements – non-trading 240,862 (28,826 ) 212,036 242,804 (21,788 ) 221,016 – financial investments 85,735 — 85,735 62,666 — 62,666 – prepayments, accrued income and other assets 92,616 — 92,616 75,641 — 75,641 Derivatives 242,995 (232,908 ) 10,087 207,825 (194,306 ) 13,519 Total on-balance sheet exposure to credit risk 1,965,589 (290,258 ) 1,675,331 1,847,288 (245,628 ) 1,601,660 Total off-balance sheet 893,246 — 893,246 874,751 — 874,751 – financial and other guarantees 95,967 — 95,967 94,810 — 94,810 – loan and other credit-related commitments 797,279 — 797,279 779,941 — 779,941 At 31 Dec 2,858,835 (290,258 ) 2,568,577 2,722,039 (245,628 ) 2,476,411 Unamortised balance of derivatives valued using models with significant unobservable inputs 2019 2018 Footnotes $m $m Unamortised balance at 1 Jan 86 106 Deferral on new transactions 145 161 Recognised in the income statement during the year: (154 ) (158 ) – amortisation (80 ) (96 ) – subsequent to unobservable inputs becoming observable (3 ) (2 ) – maturity, termination or offsetting derivative (71 ) (60 ) Exchange differences 1 (4 ) Other (5 ) (19 ) Unamortised balance at 31 Dec 1 73 86 1 This amount is yet to be recognised in the consolidated income statement. |
Disclosure of detailed information about hedged items | HSBC hedged item by hedged risk Hedged item Ineffectiveness Carrying amount Accumulated fair value hedge adjustments included in carrying amount 2 Change in fair value 1 Recognised in profit and loss Assets Liabilities Assets Liabilities Balance sheet presentation Profit and loss presentation Hedged risk $m $m $m $m $m $m Interest rate 3 90,617 1,859 Financial assets designated and otherwise mandatorily measured at fair value through other comprehensive income 2,304 (7 ) Net income from financial instruments held for trading or managed on a fair value basis 153 4 Loans and advances to banks 5 1,897 12 Loans and advances to customers 24 15,206 797 Debt securities in issue (1,011 ) 3,009 39 Deposits by banks 202 At 31 Dec 2019 92,667 18,215 1,875 836 1,524 (7 ) HSBC hedged item by hedged risk (continued) Hedged item Ineffectiveness Carrying amount Accumulated fair value hedge adjustments included in carrying amount 2 Change in fair value 1 Recognised in profit and loss Assets Liabilities Assets Liabilities Balance sheet presentation Profit and loss presentation Hedged risk $m $m $m $m $m $m Interest rate 3 93,469 231 Financial assets designated and otherwise mandatorily measured at fair value through other comprehensive income (425 ) (37 ) Net income from financial instruments held for trading or managed on a fair value basis 1,455 (6 ) Loans and advances to customers (4 ) 14,171 (155 ) Debt securities in issue 124 4,780 45 Deposits by banks (15 ) At 31 Dec 2018 94,924 18,951 225 (110 ) (320 ) (37 ) 1 Used in effectiveness testing; comprising amount attributable to the designated hedged risk that can be a risk component. 2 The accumulated amount of fair value adjustments remaining in the statement of financial position for hedged items that have ceased to be adjusted for hedging gains and losses were assets of $482m for FVOCI and assets of $2m for debt issued. 3 The hedged risk ‘interest rate’ includes inflation risk. HSBC Holdings hedging instrument by hedged risk Hedging instrument Carrying amount Notional amount 1,4 Assets Liabilities Balance sheet presentation Change in fair value 2 Hedged risk $m $m $m $m Interest rate 3 36,769 1,406 183 Derivatives 1,704 At 31 Dec 2019 36,769 1,406 183 1,704 HSBC Holdings hedged item by hedged risk Hedged item Ineffectiveness Carrying amount Accumulated fair value hedge adjustments included in carrying amount 2 Change in fair value 1 Recognised in profit and loss Assets Liabilities Assets Liabilities Balance sheet presentation Profit and loss presentation Hedged risk $m $m $m $m $m $m Interest rate 3 38,126 1,088 Debt securities in issue (1,697 ) 7 Net income from financial instruments held for trading or managed on a fair value basis At 31 Dec 2019 — 38,126 — 1,088 (1,697 ) 7 1 Used in effectiveness testing; comprising amount attributable to the designated hedged risk that can be a risk component. 2 The accumulated amount of fair value adjustments remaining in the statement of financial position for hedged items that have ceased to be adjusted for hedging gains and losses were liabilities of $71m for debt issued. 3 The hedged risk ‘interest rate’ includes foreign exchange risk. |
Disclosure of information about amounts that affected statement of comprehensive income as result of hedge accounting | Reconciliation of equity and analysis of other comprehensive income by risk type Interest rate Foreign currency $m $m Cash flow hedging reserve at 1 Jan 2019 (26 ) (182 ) Fair value gains/(losses) 193 341 Fair value (gains)/losses reclassified from the cash flow hedge reserve to the income statement in respect of: Hedged items that have affected profit or loss 99 (371 ) Income taxes (53 ) 4 Others (9 ) 3 Cash flow hedging reserve at 31 Dec 2019 204 (205 ) Cash flow hedging reserve at 1 Jan 2018 (40 ) (187 ) Fair value gains/(losses) (67 ) (200 ) Fair value (gains)/losses reclassified from the cash flow hedge reserve to the income statement in respect of: Hedged items that has affected profit or loss 90 227 Income taxes (11 ) (13 ) Others 2 (9 ) Cash flow hedging reserve at 31 Dec 2018 (26 ) (182 ) |
Disclosure of hedging instruments impacted by IBOR reform | Ibor reform are not significant and have not been presented below : Hedging instrument impacted by Ibor reform Hedging instrument Impacted by Ibor reform Not impacted by Ibor reform Notional amount 1 € £ $ Other Total $m $m $m $m $m $m $m Fair value hedges 20,378 4,533 41,274 13,435 79,620 43,133 122,753 Cash flow hedges 5,724 6,594 15,750 15,979 44,047 10,206 54,253 At 31 Dec 2019 26,102 11,127 57,024 29,414 123,667 53,339 177,006 1 The notional contract amounts of interest rate derivatives designated in qualifying hedge accounting relationships indicate the nominal value of transactions outstanding at the balance sheet date; they do not represent amounts at risk. Hedging instrument impacted by Ibor reform held by HSBC Holdings Hedging instrument Impacted by Ibor reform Not impacted by Ibor reform Notional amount € £ $ Other Total $m $m $m $m $m $m $m Fair value hedges 3,928 5,222 24,500 3,119 36,769 — 36,769 Cash flow hedges — — — — — — — At 31 Dec 2019 3,928 5,222 24,500 3,119 36,769 — 36,769 |
Financial Investments (Tables)
Financial Investments (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Financial Instruments [Abstract] | |
Schedules of financial investments | 2019 2018 Footnotes $m $m Treasury and other eligible bills 21,789 22,674 Debt securities 126,043 130,539 Equity securities 78,827 60,896 Trading securities 226,659 214,109 Loans and advances to banks 1 8,402 10,425 Loans and advances to customers 1 19,210 13,596 Year ended 31 Dec 254,271 238,130 1 Loans and advances to banks and customers include reverse repos, stock borrowing and other accounts. Trading securities 1 2019 2018 Footnotes $m $m US Treasury and US Government agencies 2 25,722 34,664 UK Government 10,040 9,710 Hong Kong Government 9,783 10,772 Other governments 72,456 66,530 Asset-backed securities 3 4,691 3,351 Corporate debt and other securities 25,140 28,186 Equity securities 78,827 60,896 At 31 Dec 226,659 214,109 1 Included within these figures are debt securities issued by banks and other financial institutions of $17,846m (2018: $18,918m ), of which $2,637m (2018: $2,367m ) are guaranteed by various governments. 2 Includes securities that are supported by an explicit guarantee issued by the US Government. 3 Excludes asset-backed securities included under US Treasury and US Government agencies. 2019 2018 Designated at fair value Mandatorily measured at fair value Total Designated at fair value Mandatorily measured at fair value Total $m $m $m $m $m $m Securities 2,344 35,808 38,152 2,349 30,217 32,566 – treasury and other eligible bills 630 31 661 641 29 670 – debt securities 1,714 4,838 6,552 1,708 4,839 6,547 – equity securities — 30,939 30,939 — 25,349 25,349 Loans and advances to banks and customers 1 4,555 4,556 — 7,717 7,717 Other — 919 919 — 828 828 At 31 Dec 2,345 41,282 43,627 2,349 38,762 41,111 Securities 1 2019 2018 Designated at fair value Mandatorily measured at fair value Total Designated at fair value Mandatorily measured at fair value Total Footnotes $m $m $m $m $m $m Hong Kong Government 4 — 4 4 — 4 Other governments 666 754 1,420 673 713 1,386 Asset-backed securities 2 — 363 363 — 399 399 Corporate debt and other securities 1,674 3,752 5,426 1,672 3,756 5,428 Equities — 30,939 30,939 — 25,349 25,349 At 31 Dec 2,344 35,808 38,152 2,349 30,217 32,566 1 Included within these figures are debt securities issued by banks and other financial institutions of $ 366 m ( 2018 re-presented: $ 676 m), of which nil ( 2018 : nil ) are guaranteed by various governments. 2 Excludes asset-backed securities included under US Treasury and US Government agencies. Financial investments at amortised cost and fair value 2019 2018 Amortised cost Fair value 1 Amortised cost Fair value 1 Footnotes $m $m $m $m US Treasury 79,633 80,589 54,941 54,763 US Government agencies 2 26,356 26,387 21,058 20,580 US Government-sponsored entities 2 8,070 8,259 12,867 12,701 UK Government 28,621 28,973 20,576 21,083 Hong Kong Government 47,824 47,820 49,956 49,955 Other governments 140,510 142,511 142,495 144,099 Asset-backed securities 3 2,954 2,889 3,579 3,390 Corporate debt and other securities 101,750 107,364 97,286 98,419 Equities 1,241 1,913 1,353 1,657 At 31 Dec 436,959 446,705 404,111 406,647 1 Included within ‘fair value’ figures are debt securities issued by banks and other financial institutions of $ 61 bn ( 2018 : $56 bn), of which $ 11 bn ( 2018 : $8 bn) are guaranteed by various governments. 2 Includes securities that are supported by an explicit guarantee issued by the US Government. 3 Excludes asset-backed securities included under US Government agencies and sponsored entities. Maturities of investments in debt securities at their carrying amount Up to 1 year 1 to 5 years 5 to 10 years Over 10 years Total $m $m $m $m $m Debt securities measured at fair value through other comprehensive income 61,833 123,740 42,831 32,132 260,536 Debt securities measured at amortised cost 5,472 14,395 21,431 33,961 75,259 At 31 Dec 2019 67,305 138,135 64,262 66,093 335,795 Debt securities measured at fair value through other comprehensive income 61,598 124,075 36,194 24,504 246,371 Debt securities measured at amortised cost 2,519 10,086 16,065 33,317 61,987 At 31 Dec 2018 64,117 134,161 52,259 57,821 308,358 Contractual maturities and weighted average yields of investment debt securities Up to 1 year 1 to 5 years 5 to 10 years Over 10 years Amount Yield Amount Yield Amount Yield Amount Yield $m % $m % $m % $m % Debt securities measured at fair value through other comprehensive income US Treasury 6,322 2.1 26,834 2.0 18,208 2.0 3,268 2.9 US Government agencies — — 79 2.2 1 4.7 15,581 2.6 US Government-sponsored agencies 725 2.8 167 3.1 1,940 2.8 2,191 3.0 UK Government 4,681 1.3 4,393 1.1 4,443 0.2 2,811 2.8 Hong Kong Government 559 1.3 145 1.8 152 3.2 — — Other governments 39,144 2.3 54,689 2.8 11,478 1.7 1,862 3.6 Asset-backed securities 18 2.7 1 0.5 325 3.1 2,610 2.2 Corporate debt and other securities 9,735 2.0 34,921 1.8 4,879 2.2 2,795 3.4 Total amortised cost at 31 Dec 2019 61,184 121,229 41,426 31,118 Total carrying value 61,833 123,740 42,831 32,132 Debt securities measured at amortised cost US Treasury 3,010 1.9 4,879 1.8 2,931 1.9 141 4.2 US Government agencies — — 13 3.8 19 3.5 10,286 2.6 US Government-sponsored agencies — — 482 2.7 551 2.3 2,015 3.2 Hong Kong Government 10 1.6 20 1.6 9 1.4 — — Other governments 128 4.4 552 3.4 487 3.1 832 4.2 Asset-backed securities — — — — — — 2 7.5 Corporate debt and other securities 2,324 3.5 8,449 3.4 17,434 3.3 20,685 3.8 Total amortised cost at 31 Dec 2019 5,472 14,395 21,431 33,961 Total carrying value 5,472 14,395 21,431 33,961 Carrying amount of financial investments 2019 2018 Footnotes $m $m Financial investments measured at fair value through other comprehensive income 357,577 344,767 – treasury and other eligible bills 95,043 96,642 – debt securities 260,536 246,371 – equity securities 1,913 1,657 – other instruments 1 85 97 Debt instruments measured at amortised cost 2 85,735 62,666 – treasury and other eligible bills 10,476 679 – debt securities 75,259 61,987 At 31 Dec 443,312 407,433 1 ‘Other instruments’ comprises of loans and advances. 2 Fair value $89.1 bn ( 2018 : $62.1 bn). Equity instruments measured at fair value through other comprehensive income Fair value Dividends recognised Type of equity instruments $m $m Investments required by central institutions 738 22 Business facilitation 1,124 19 Others 51 9 At 31 Dec 2019 1,913 50 Investments required by central institutions 848 34 Business facilitation 758 21 Others 51 9 At 31 Dec 2018 1,657 64 HSBC Holdings carrying amount of financial investments 2019 2018 Footnotes $m $m Debt instruments measured at amortised cost 1 – treasury and other eligible bills 10,081 — – debt securities 6,025 — At 31 Dec 16,106 — 1 The 2019 period includes $ 16.1b n (2018: nil ) of investments in highly liquid securities. Financial investments at amortised cost and fair value 2019 2018 Amortised cost Fair value Amortised cost Fair value $m $m $m $m US Treasury 16,106 16,121 — — US Government agencies — — — — US Government-sponsored entities — — — — At 31 Dec 16,106 16,121 — — Maturities of investments in debt securities at their carrying amount Up to 1 year 1 to 5 years 5 to 10 years Over 10 years Total $m $m $m $m $m Debt securities measured at amortised cost 3,010 3,015 — — 6,025 At 31 Dec 2019 3,010 3,015 — — 6,025 Debt securities measured at amortised cost — — — — — At 31 Dec 2018 — — — — — Contractual maturities and weighted average yields of investment debt securities Up to 1 year 1 to 5 years 5 to 10 years Over 10 years Amount Yield Amount Yield Amount Yield Amount Yield $m % $m % $m % $m % Debt securities measured at amortised cost US Treasury 3,010 1.9 3,015 1.7 — — — — US Government agencies — — — — — — — — US Government-sponsored agencies — — — — — — — — Total amortised cost at 31 Dec 2019 3,010 3,015 — — Total carrying value 3,010 3,015 — — |
Equity instruments measured at fair value through other comprehensive income | Equity instruments measured at fair value through other comprehensive income Fair value Dividends recognised Type of equity instruments $m $m Investments required by central institutions 738 22 Business facilitation 1,124 19 Others 51 9 At 31 Dec 2019 1,913 50 Investments required by central institutions 848 34 Business facilitation 758 21 Others 51 9 At 31 Dec 2018 1,657 64 |
Assets pledged, collateral re_2
Assets pledged, collateral received and assets transferred (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Financial Instruments [Abstract] | |
Disclosure of assets pledged | Financial assets pledged as collateral 2019 2018 $m $m Treasury bills and other eligible securities 14,034 11,470 Loans and advances to banks 1,975 151 Loans and advances to customers 26,017 51,659 Debt securities 60,995 95,210 Equity securities 24,626 22,510 Other 50,231 34,028 Assets pledged at 31 Dec 177,878 215,028 |
Disclosure of financial assets pledged as collateral which the counterparty has the right to sell or repledge | Financial assets pledged as collateral which the counterparty has the right to sell or repledge 2019 2018 $m $m Trading assets 63,163 76,121 Financial investments 10,782 15,741 At 31 Dec 73,945 91,862 |
Disclosure of transferred financial assets not qualifying for full derecognition and associated financial liabilities | Transferred financial assets not qualifying for full derecognition and associated financial liabilities Carrying amount of: Fair value of: Transferred assets Associated liabilities Transferred assets Associated liabilities Net position $m $m $m $m $m At 31 Dec 2019 Repurchase agreements 45,831 45,671 Securities lending agreements 35,122 3,225 Other sales (recourse to transferred assets only) 2,971 2,885 2,974 2,897 77 At 31 Dec 2018 Repurchase agreements 62,216 60,361 Securities lending agreements 32,486 2,426 Other sales (recourse to transferred assets only) 2,647 2,647 2,625 2,630 (5 ) |
Interest in associates and jo_2
Interest in associates and joint ventures (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Interests In Other Entities [Abstract] | |
Disclosure of carrying amount of interests in associates and joint ventures | Carrying amount of HSBC’s interests in associates and joint ventures 2019 2018 $m $m Interests in associates 24,384 22,244 Interests in joint ventures 1 90 163 Interests in associates and joint ventures 24,474 22,407 1 During 2019, HSBC increased its shareholding in HSBC Saudi Arabia, which is now recognised as a subsidiary. |
Disclosure of interests in associates | Principal associates of HSBC 2019 2018 Carrying amount Fair value 1 Carrying amount Fair value 1 $m $m $m $m Bank of Communications Co., Limited 18,982 10,054 17,754 10,991 The Saudi British Bank 4,370 5,550 3,557 5,222 1 Principal associates are listed on recognised stock exchanges. The fair values are based on the quoted market prices of the shares held (Level 1 in the fair value hierarchy). At 31 Dec 2019 Footnotes Country of incorporation and principal place of business Principal activity HSBC’s interest % Bank of Communications Co., Limited People’s Republic of China Banking services 19.03 The Saudi British Bank 1 Saudi Arabia Banking services 29.20 1 In June 2019, the merger between The Saudi British Bank (‘SABB’) and Alawwal bank (‘Alawwal’) became effective. The merger involved SABB issuing a fixed number of new shares to Alawwal’s shareholders in exchange for the transfer of Alawwal’s net assets and cancellation of its shares. HSBC’s 40.0% interest in SABB reduced to 29.2% of the combined entity, resulting in a dilution gain of $828m recognised in HSBC’s consolidated income statement. The dilution gain represents the difference between the carrying amount of HSBC’s interest in SABB that was derecognised proportionate to the percentage reduction, and HSBC’s share of the increase in the combined entity’s net assets. The combined entity continues to be an associate of HSBC. At 31 Dec 2019 At 31 Dec 2018 VIU Carrying value Fair value VIU Carrying value Fair value $bn $bn $bn $bn $bn $bn BoCom 21.5 19.0 10.1 18.0 17.8 11.0 Selected balance sheet information of BoCom At 30 Sep 2019 2018 $m $m Cash and balances at central banks 112,239 125,414 Loans and advances to banks and other financial institutions 108,026 102,980 Loans and advances to customers 730,510 686,951 Other financial assets 435,740 408,136 Other assets 40,101 42,106 Total assets 1,426,616 1,365,587 Deposits by banks and other financial institutions 290,492 304,395 Customer accounts 868,627 829,539 Other financial liabilities 131,772 94,900 Other liabilities 23,074 36,332 Total liabilities 1,313,965 1,265,166 Total equity 112,651 100,421 Selected income statement information of BoCom For the 12 months ended 30 Sep 2019 2018 $m $m Net interest income 20,558 19,295 Net fee and commission income 6,411 6,245 Change in expected credit losses and other credit impairment charges (7,479 ) (5,602 ) Depreciation and amortisation (1,934 ) (767 ) Tax expense (1,636 ) (1,554 ) Profit for the year 11,175 11,116 Other comprehensive income 315 190 Total comprehensive income 11,490 11,306 Dividends received from BoCom 613 611 Associates The undertakings below are associates and equity accounted. Associates % of share class held by immediate parent company (or by the Group where this varies) Footnotes Bank of Communications Co., Ltd. 19.03 168 Barrowgate Limited 15.31 169 BGF Group PLC 24.54 170 Bud Financial Limited 8.20 1, 171 Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited 26.00 172 CFAC Payment Scheme Limited 33.33 173 Chemi & Cotex (Rwanda) Limited 33.99 1, 174 Chemi & Cotex Kenya Limited 33.99 1, 175 Chemi and Cotex Industries Limited 33.99 176 EPS Company (Hong Kong) Limited 38.66 54 Euro Secured Notes Issuer 16.66 177 GIE GNIFI n/a 0, 178 GZHS Research Co Ltd 33.00 (20.50 ) 179 Hang Seng Qianhai Fund Management Company Limited 70.00 (43.49 ) 1, 12, 180 Icon Brickell LLC(In Liquidation) n/a 0, 182 Jeppe Star Limited 100.00 (33.99 ) 183 MENA Infrastructure Fund (GP) Ltd 33.33 184 Northstar Trade Finance Inc. 20.08 185 Novo Star Limited 33.99 186 Quantexa Ltd 10.51 187 Services Epargne Entreprise 14.34 188 sino AG 24.94 (20.11 ) 189 The London Gold Market Fixing Limited n/a 0, 166 The Saudi British Bank 29.20 190 Trinkaus Europa Immobilien-Fonds Nr. 7 Frankfurt Mertonviertel KG n/a 0, 43 Vizolution Limited 17.95 1, 191 We Trade Innovation Designated Activity Company 8.52 1, 192 Footnotes for Note 37 Description of Shares 0 Where an entity is governed by voting rights, HSBC consolidates when it holds – directly or indirectly – the necessary voting rights to pass resolutions by the governing body. In all other cases, the assessment of control is more complex and requires judgement of other factors, including having exposure to variability of returns, power to direct relevant activities, and whether power is held as an agent or principal. HSBC’s consolidation policy is described in Note 1.2(a). 1 Management has determined that these undertakings are excluded from consolidation in the Group accounts as these entities do not meet the definition of subsidiaries in accordance with IFRS. HSBC’s consolidation policy is described in Note 1.2(a). 2 Directly held by HSBC Holdings plc 3 Preference Shares 4 Actions 5 Redeemable Preference Shares 6 GmbH Anteil 7 Limited and Unlimited Liability Shares 8 Liquidating Share Class 9 Nominal Shares 10 Non-Participating Voting Shares 11 Parts 12 Registered Capital Shares 13 Russian Limited Liability Company Shares 14 Stückaktien |
Sensitivity of VIU to reasonably possible changes in key assumptions | The following table shows the change to each key assumption in the VIU calculation that on its own would reduce the headroom to nil: Key assumption Changes to key assumption to reduce headroom to nil • Long-term profit growth rate • Decrease by 99 basis points • Long-term asset growth rate • Increase by 80 basis points • Discount rate • Increase by 122 basis points • Expected credit losses as a percentage of customer advances • Increase by 16 basis points • Risk-weighted assets as a percentage of total assets • Increase by 624 basis points • Cost-income ratio • Increase by 373 basis points • Long-term effective tax rate • Increase by 900 basis points • Capital requirements – capital adequacy ratio • Increase by 118 basis points • Capital requirements – tier 1 capital adequacy ratio • Increase by 190 basis points Sensitivity of VIU to reasonably possible changes in key assumptions Favourable change Unfavourable change Increase VIU Decrease VIU bps $bn $bn bps $bn $bn At 31 Dec 2019 Long-term profit growth rate — — 21.5 (50 ) (1.3 ) 20.2 Long-term asset growth rate (50 ) 1.4 22.9 — — 21.5 Discount rate (54 ) 1.4 22.9 56 (1.2 ) 20.3 Expected credit losses as a percentage of customer advances 2019 to 2023: 90 1.0 22.5 2019 to 2023: 108 (1.2 ) 20.3 Risk-weighted assets as a percentage of total assets (96 ) 0.4 21.9 12 — 21.5 Cost-income ratio (175 ) 1.0 22.5 95 (1.2 ) 20.3 Long-term effective tax rate (352 ) 1.0 22.5 250 (0.7 ) 20.8 Earnings in short to medium term – compound annual growth rate 1 107 0.5 22.0 (346 ) (2.4 ) 19.1 Capital requirements – capital adequacy ratio — — 21.5 337 (8.2 ) 13.3 Capital requirements – tier 1 capital adequacy ratio — — 21.5 322 (6.0 ) 15.5 At 31 Dec 2018 Long-term profit growth rate 100 2.6 20.6 (10 ) (0.2 ) 17.8 Long-term asset growth rate (10 ) 0.3 18.3 100 (2.8 ) 15.3 Discount rate (142 ) 3.2 21.3 28 (0.5 ) 17.5 Expected credit losses as a percentage of customer advances 2018 to 2022: 70 0.9 18.9 2018 to 2022: 83 (1.0 ) 17.0 Risk-weighted assets as a percentage of total assets (140 ) 0.5 18.6 80 (0.3 ) 17.8 Cost-income ratio (160 ) 1.1 19.2 200 (1.4 ) 16.7 Long-term effective tax rate (280 ) 0.7 18.7 250 (0.6 ) 17.5 Earnings in short to medium term – compound annual growth rate 1,2 204 1.1 19.1 (366 ) (1.8 ) 16.2 Capital requirements – capital adequacy ratio — — 18.0 258 (5.0 ) 13.0 Capital requirements – tier 1 capital adequacy ratio — — 18.0 243 (3.2 ) 14.8 1 Based on management’s explicit forecasts over the short to medium term. 2 Amounts at 31 December 2018 have been updated to align with the 2019 approach to describe the impact of the change in isolation. |
Summarised aggregate financial information of associates | Reconciliation of BoCom’s total shareholders’ equity to the carrying amount in HSBC’s consolidated financial statements At 30 Sep 2019 2018 $m $m HSBC’s share of total shareholders’ equity 18,509 17,275 Goodwill and other intangible assets 473 479 Carrying amount 18,982 17,754 |
Investments in subsidiaries (Ta
Investments in subsidiaries (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Interests In Other Entities [Abstract] | |
Investments in subsidiaries | Main subsidiaries of HSBC Holdings At 31 Dec 2019 Place of incorporation or registration HSBC’s interest % Share class Europe HSBC Bank plc England and Wales 100 £1 Ordinary, $0.01 Non-cumulative third Dollar Preference HSBC UK Bank plc England and Wales 100 £1 Ordinary HSBC France France 99.99 €5 Actions HSBC Trinkaus & Burkhardt AG Germany 80.67 Stückaktien no par value Asia Hang Seng Bank Limited Hong Kong 62.14 HK$5 Ordinary HSBC Bank (China) Company Limited People’s Republic of China 100 CNY1 Ordinary HSBC Bank Malaysia Berhad Malaysia 100 RM0.50 Ordinary HSBC Life (International) Limited Bermuda 100 HK$1 Ordinary The Hongkong and Shanghai Banking Corporation Limited Hong Kong 100 Ordinary no par value Middle East and North Africa HSBC Bank Middle East Limited United Arab Emirates 100 $1 Ordinary and $1 Cumulative Redeemable Preference shares (CRP) North America HSBC Bank Canada Canada 100 Common no par value and Preference no par value HSBC Bank USA, N.A. US 100 $100 Common and $0.01 Preference Latin America HSBC Mexico, S.A., Institución de Banca Múltiple, Mexico 99.99 MXN2 Ordinary Subsidiaries with significant non-controlling interests 2019 2018 Hang Seng Bank Limited Proportion of ownership interests and voting rights held by non-controlling interests 37.86 % 37.86% Place of business Hong Kong Hong Kong $m $m Profit attributable to non-controlling interests 1,229 1,194 Accumulated non-controlling interests of the subsidiary 7,262 6,637 Dividends paid to non-controlling interests 720 647 Summarised financial information: – total assets 212,485 197,867 – total liabilities 191,819 179,450 – net operating income before changes in expected credit losses and other credit impairment charges 5,558 5,294 – profit for the year 3,251 3,159 – total comprehensive income for the year 3,461 2,950 Subsidiaries % of share class held by immediate parent company (or by the Group where this varies) Footnotes Almacenadora Banpacifico S.A. (In Liquidation) 99.99 15 Assetfinance December (F) Limited 100.00 16 Assetfinance December (H) Limited 100.00 17 Assetfinance December (M) Limited (In Liquidation) 100.00 32 Assetfinance December (P) Limited 100.00 17 Assetfinance December (R) Limited 100.00 17 Assetfinance June (A) Limited 100.00 17 Assetfinance June (D) Limited 100.00 16 Assetfinance Limited 100.00 17 Assetfinance March (B) Limited 100.00 18 Assetfinance March (D) Limited 100.00 16 Assetfinance March (F) Limited 100.00 17 Assetfinance September (F) Limited 100.00 17 Assetfinance September (G) Limited 100.00 16 B&Q Financial Services Limited 100.00 19 Banco Nominees (Guernsey) Limited 100.00 20 Banco Nominees 2 (Guernsey) Limited 100.00 20 Banco Nominees Limited 100.00 21 Beau Soleil Limited Partnership n/a 0, 22 Beijing Miyun HSBC Rural Bank Company Limited 100.00 12, 23 Billingsgate Nominees Limited 100.00 17 Canada Crescent Nominees (UK) Limited 100.00 17 Canada Square Nominees (UK) Limited 100.00 17 Capco/Cove, Inc. 100.00 24 Card-Flo #1, Inc. 100.00 25 Card-Flo #3, Inc. 100.00 26 CC&H Holdings LLC n/a 0, 27 CCF & Partners Asset Management Limited 100.00 (99.99 ) 17 CCF Holding (LIBAN) S.A.L. (In Liquidation) 74.99 28 Charterhouse Administrators ( D.T.) Limited 100.00 (99.99 ) 17 Charterhouse Management Services Limited 100.00 (99.99 ) 17 Charterhouse Pensions Limited 100.00 17 Chongqing Dazu HSBC Rural Bank Company Limited 100.00 12, 29 Chongqing Fengdu HSBC Rural Bank Company Limited 100.00 12, 30 Chongqing Rongchang HSBC Rural Bank Company Limited 100.00 12, 31 CL Residential Limited (In Liquidation) 100.00 32 COIF Nominees Limited n/a 0, 17 Cordico Management AG (In Liquidation) 100.00 33 Dalian Pulandian HSBC Rural Bank Company Limited 100.00 12, 34 Decision One Mortgage Company, LLC n/a 0, 35 Dem 9 100.00 (99.99 ) 4, 36 Dempar 1 100.00 (99.99 ) 37 Desarrollo Turistico, S.A. de C.V. (In Liquidation) 100.00 (99.79 ) 15 Electronic Data Process México, S.A. de C.V. 100.00 15 Elysées Immo Invest 100.00 (99.99 ) 38 Equator Holdings Limited (In Liquidation) 100.00 32 Eton Corporate Services Limited 100.00 20 Far East Leasing SA (In Dissolution) 100.00 39 Finanpar 7 100.00 (99.99 ) 38 Flandres Contentieux S.A. 100.00 (99.99 ) 40 Foncière Elysées 100.00 (99.99 ) 37 Fujian Yongan HSBC Rural Bank Company Limited 100.00 12, 41 Fulcher Enterprises Company Limited 100.00 (62.14 ) 42 Fundacion HSBC, A.C. 100.00 (99.99 ) 11, 15 Giller Ltd. 100.00 24 GPIF Co-Investment, LLC n/a 0, 26 Subsidiaries % of share class held by immediate parent company (or by the Group where this varies) Footnotes Griffin International Limited 100.00 17 Grundstuecksgesellschaft Trinkausstrasse Kommanditgesellschaft n/a 0, 43 Grupo Financiero HSBC, S. A. de C. V. 99.99 15 Guangdong Enping HSBC Rural Bank Company Limited 100.00 12, 44 Hang Seng (Nominee) Limited 100.00 (62.14 ) 42 Hang Seng Bank (China) Limited 100.00 (62.14 ) 45 Hang Seng Bank (Trustee) Limited 100.00 (62.14 ) 42 Hang Seng Bank Limited 62.14 42 Hang Seng Bullion Company Limited 100.00 (62.14 ) 42 Hang Seng Credit Limited 100.00 (62.14 ) 42 Hang Seng Data Services Limited 100.00 (62.14 ) 42 Hang Seng Finance Limited 100.00 (62.14 ) 42 Hang Seng Financial Information Limited 100.00 (62.14 ) 42 Hang Seng Indexes Company Limited 100.00 (62.14 ) 42 Hang Seng Insurance Company Limited 100.00 (62.14 ) 42 Hang Seng Investment Management Limited 100.00 (62.14 ) 42 Hang Seng Investment Services Limited 100.00 (62.14 ) 42 Hang Seng Life Limited 100.00 (62.14 ) 42 Hang Seng Real Estate Management Limited 100.00 (62.14 ) 42 Hang Seng Securities Limited 100.00 (62.14 ) 42 Hang Seng Security Management Limited 100.00 (62.14 ) 42 Haseba Investment Company Limited 100.00 (62.14 ) 42 HFC Bank Limited (In Liquidation) 100.00 32 High Time Investments Limited 100.00 (62.14 ) 42 Honey Green Enterprises Ltd. 100.00 46 Household International Europe Limited (In Liquidation) 100.00 32 Household Pooling Corporation 100.00 47 HRMG Nominees Limited 100.00 20 HSBC (BGF) Investments Limited 100.00 17 HSBC (General Partner) Limited 100.00 2, 48 HSBC (Guernsey) GP PCC Limited 100.00 20 HSBC (Kuala Lumpur) Nominees Sdn Bhd 100.00 49 HSBC (Malaysia) Trustee Berhad 100.00 50 HSBC (Singapore) Nominees Pte Ltd 100.00 51 HSBC Agency (India) Private Limited 100.00 52 HSBC Alternative Investments Limited 100.00 17 HSBC Amanah Malaysia Berhad 100.00 49 HSBC Americas Corporation (Delaware) 100.00 26 HSBC Argentina Holdings S.A. 100.00 53 HSBC Asia Holdings B.V. 100.00 17 HSBC Asia Holdings Limited 100.00 2, 54 HSBC Asia Pacific Holdings (UK) Limited 100.00 17 HSBC Asset Finance (UK) Limited 100.00 17 HSBC Asset Finance Holdings Limited (In Liquidation) 100.00 32 HSBC Asset Finance M.O.G. Holdings (UK) Limited 100.00 17 HSBC Asset Management (India) Private Limited 100.00 55 HSBC Assurances Vie (France) 100.00 (99.99 ) 40 HSBC Australia Holdings Pty Limited 100.00 56 HSBC Bank (Chile) 100.00 57 HSBC Bank (China) Company Limited 100.00 12, 58 HSBC Bank (General Partner) Limited 100.00 48 HSBC Bank (Mauritius) Limited 100.00 59 HSBC Bank (RR) (Limited Liability Company) n/a 0, 13, 60 HSBC Bank (Singapore) Limited 100.00 51 HSBC Bank (Taiwan) Limited 100.00 61 HSBC Bank (Uruguay) S.A. 100.00 62 HSBC Bank (Vietnam) Ltd. 100.00 63 HSBC Bank A.S. 100.00 (99.99 ) 64 Subsidiaries % of share class held by immediate parent company (or by the Group where this varies) Footnotes HSBC Bank Argentina S.A. 99.00 53 HSBC Bank Armenia cjsc 70.00 65 HSBC Bank Australia Limited 100.00 56 HSBC Bank Bermuda Limited 100.00 21 HSBC Bank Canada 100.00 66 HSBC Bank Capital Funding (Sterling 1) LP n/a 0, 48 HSBC Bank Capital Funding (Sterling 2) LP n/a 0, 48 HSBC Bank Egypt S.A.E 94.54 67 HSBC Bank Malaysia Berhad 100.00 49 HSBC Bank Malta p.l.c. 70.03 68 HSBC Bank Middle East Limited 100.00 5, 69 HSBC Bank Middle East Limited Representative Office Morocco SARL (In Liquidation) 100.00 70 HSBC Bank Oman S.A.O.G. 51.00 71 HSBC Bank Pension Trust (UK) Limited 100.00 17 HSBC Bank plc 100.00 17 HSBC Bank USA, National Association 100.00 72 HSBC Branch Nominee (UK) Limited 100.00 16 HSBC Brasil Holding S.A. 100.00 (99.99 ) 73 HSBC Brasil S.A. Banco de Investimento 100.00 (99.99 ) 73 HSBC Broking Forex (Asia) Limited 100.00 54 HSBC Broking Futures (Asia) Limited 100.00 54 HSBC Broking Futures (Hong Kong) Limited 100.00 54 HSBC Broking Securities (Asia) Limited 100.00 54 HSBC Broking Securities (Hong Kong) Limited 100.00 54 HSBC Broking Services (Asia) Limited 100.00 54 HSBC Canadian Covered Bond (Legislative) GP Inc. 100.00 74 HSBC Canadian Covered Bond (Legislative) Guarantor Limited Partnership n/a 0, 74 HSBC Capital (USA), Inc. 100.00 26 HSBC Capital Funding (Dollar 1) L.P. n/a 0, 48 HSBC Capital Limited 100.00 54 HSBC Card Services Inc. 100.00 26 HSBC Casa de Bolsa, S.A. de C.V., Grupo Financiero HSBC 100.00 (99.99 ) 15 HSBC Cayman Limited 100.00 75 HSBC Cayman Services Limited 100.00 76 HSBC City Funding Holdings 100.00 17 HSBC Client Holdings Nominee (UK) Limited 100.00 17 HSBC Client Nominee (Jersey) Limited 100.00 77 HSBC Client Share Offer Nominee (UK) Limited (In Liquidation) 100.00 32 HSBC Columbia Funding, LLC n/a 0, 26 HSBC Corporate Advisory (Malaysia) Sdn Bhd 100.00 49 HSBC Corporate Finance (Hong Kong) Limited 100.00 54 HSBC Corporate Trustee Company (UK) Limited 100.00 17 HSBC Custody Nominees (Australia) Limited 100.00 56 HSBC Custody Services (Guernsey) Limited 100.00 (99.99 ) 20 HSBC Daisy Investments (Mauritius) Limited 100.00 78 HSBC Diversified Loan Fund General Partner Sarl n/a 0, 79 HSBC Electronic Data Processing (Guangdong) Limited 100.00 12, 80 HSBC Electronic Data Processing (Malaysia) Sdn Bhd 100.00 81 HSBC Electronic Data Processing (Philippines), Inc. 99.00 82 HSBC Electronic Data Processing India Private Limited 100.00 (99.99 ) 83 HSBC Electronic Data Processing Lanka (Private) Limited 100.00 (99.99 ) 84 HSBC Electronic Data Service Delivery (Egypt) S.A.E. 100.00 (99.99 ) 85 HSBC Enterprise Investment Company (UK) Limited (In Liquidation) 100.00 32 HSBC Epargne Entreprise (France) 100.00 (99.99 ) 40 Subsidiaries % of share class held by immediate parent company (or by the Group where this varies) Footnotes HSBC Equator (UK) Limited (In Liquidation) 100.00 32 HSBC Equipment Finance (UK) Limited 100.00 16 HSBC Equity (UK) Limited 100.00 17 HSBC Europe B.V. 100.00 (99.99 ) 17 HSBC Executor & Trustee Company (UK) Limited 100.00 16 HSBC Factoring (France) 100.00 (99.99 ) 37 HSBC Finance (Netherlands) 100.00 2, 17 HSBC Finance Corporation 100.00 26 HSBC Finance Limited 100.00 17 HSBC Finance Mortgages Inc. 100.00 86 HSBC Finance Transformation (UK) Limited 100.00 17 HSBC Financial Services (Lebanon) s.a.l. 99.60 87 HSBC Financial Services (Middle East) Limited 100.00 88 HSBC Financial Services (Uruguay) S.A. (In Liquidation) 100.00 89 HSBC France 99.00 37 HSBC Fund Services (Korea) Limited 92.96 90 HSBC Germany Holdings GmbH 100.00 43 HSBC Global Asset Management (Bermuda) Limited 100.00 21 HSBC Global Asset Management (Canada) Limited 100.00 66 HSBC Global Asset Management (Deutschland) GmbH 100.00 (80.67 ) 43 HSBC Global Asset Management (France) 100.00 (99.99 ) 91 HSBC Global Asset Management (Hong Kong) Limited 100.00 22 HSBC Global Asset Management (International) Limited (In Liquidation) 100.00 92 HSBC Global Asset Management (Japan) K. K. 100.00 93 HSBC Global Asset Management (Malta) Limited 100.00 (70.00 ) 94 HSBC Global Asset Management (México), S.A. de C.V., Sociedad Operadora de Fondos de Inversión, Grupo Financiero HSBC 100.00 (99.99 ) 15 HSBC Global Asset Management (Oesterreich) GmbH 100.00 (80.67 ) 6, 95 HSBC Global Asset Management (Singapore) Limited 100.00 51 HSBC Global Asset Management (Switzerland) AG 100.00 (90.33 ) 4, 96 HSBC Global Asset Management (Taiwan) Limited 100.00 97 HSBC Global Asset Management (UK) Limited 100.00 17 HSBC Global Asset Management (USA) Inc. 100.00 98 HSBC Global Asset Management Argentina S.A. Sociedad Gerente de Fondos Comunes de Inversión 100.00 (99.99 ) 99 HSBC Global Asset Management Holdings (Bahamas) Limited 100.00 100 HSBC Global Asset Management Limited 100.00 2, 17 HSBC Global Custody Nominee (UK) Limited 100.00 17 HSBC Global Custody Proprietary Nominee (UK) Limited 100.00 1, 17 HSBC Global Services (Canada) Limited 100.00 101 HSBC Global Services (China) Holdings Limited 100.00 17 HSBC Global Services (Hong Kong) Limited 100.00 54 HSBC Global Services (UK) Limited 100.00 17 HSBC Global Services Limited 100.00 2, 17 HSBC Global Shared Services (India) Private Limited (In Liquidation) 100.00 1, 52 HSBC Group Management Services Limited 100.00 17 HSBC Group Nominees UK Limited 100.00 2, 17 HSBC Holdings B.V. 100.00 17 HSBC IM Pension Trust Limited 100.00 17 HSBC Infrastructure Limited 100.00 17 HSBC INKA Investment-AG TGV 100.00 (80.67 ) 14, 102 HSBC Inmobiliaria (Mexico), S.A. de C.V. 100.00 (99.99 ) 15 HSBC Institutional Trust Services (Asia) Limited 100.00 54 Subsidiaries % of share class held by immediate parent company (or by the Group where this varies) Footnotes HSBC Institutional Trust Services (Bermuda) Limited 100.00 21 HSBC Institutional Trust Services (Mauritius) Limited 100.00 103 HSBC Institutional Trust Services (Singapore) Limited 100.00 51 HSBC Insurance (Asia) Limited 100.00 104 HSBC Insurance (Asia-Pacific) Holdings Limited 100.00 105 HSBC Insurance (Bermuda) Limited 100.00 21 HSBC Insurance (Singapore) Pte. Limited 100.00 51 HSBC Insurance Agency (USA) Inc. 100.00 98 HSBC Insurance Brokers (Philippines) Inc. 100.00 106 HSBC Insurance Holdings Limited 100.00 2, 17 HSBC Insurance SAC 1 (Bermuda) Limited 100.00 21 HSBC Insurance SAC 2 (Bermuda) Limited 100.00 21 HSBC Insurance Services (Lebanon) S.A.L. (In Liquidation) 100.00 107 HSBC Insurance Services Holdings Limited 100.00 17 HSBC International Finance Corporation (Delaware) 100.00 108 HSBC International Holdings (Jersey) Limited (In Liquidation) 100.00 (99.99 ) 77 HSBC International Trustee (BVI) Limited 100.00 109 HSBC International Trustee (Holdings) Pte. Limited 100.00 51 HSBC International Trustee Limited 100.00 110 HSBC Inversiones S.A. 99.99 57 HSBC InvestDirect (India) Limited 99.54 111 HSBC InvestDirect Financial Services (India) Limited 99.99 (99.54 ) 111 HSBC InvestDirect Sales & Marketing (India) Limited 98.99 (98.54 ) 52 HSBC InvestDirect Securities (India) Private Limited 99.99 (99.78 ) 111 HSBC Investment Bank Holdings B.V. 100.00 17 HSBC Investment Bank Holdings Limited 100.00 17 HSBC Investment Company (Egypt) S.A.E (In Liquidation) 94.54 112 HSBC Investment Company Limited 100.00 2, 17 HSBC Investment Funds (Canada) Inc. 100.00 113 HSBC Investment Funds (Hong Kong) Limited 100.00 22 HSBC Investment Funds (Luxembourg) SA 100.00 (99.99 ) 114 HSBC Invoice Finance (UK) Limited 100.00 115 HSBC Issuer Services Common Depositary Nominee (UK) Limited 100.00 17 HSBC Issuer Services Depositary Nominee (UK) Limited 100.00 17 HSBC Latin America B.V. 100.00 17 HSBC Latin America Holdings (UK) Limited 100.00 2, 17 HSBC Leasing (Asia) Limited 100.00 54 HSBC Leasing (France) 100.00 (99.99 ) 36 HSBC Life (International) Limited 100.00 21 HSBC Life (Property) Limited 100.00 104 HSBC Life (UK) Limited 100.00 17 HSBC Life Assurance (Malta) Limited 100.00 (70.03 ) 94 HSBC Life Insurance Company Limited 50.00 116 HSBC LU Nominees Limited 100.00 17 HSBC Management (Guernsey) Limited 100.00 20 HSBC Markets (USA) Inc. 100.00 26 HSBC Marking Name Nominee (UK) Limited 100.00 17 HSBC Master Trust Trustee Limited 100.00 17 HSBC Mexico, S.A., Institucion de Banca Multiple, Grupo Financiero HSBC 99.99 15 HSBC Middle East Finance Company Limited 80.00 117 HSBC Middle East Holdings B.V. 100.00 2, 69 HSBC Middle East Leasing Partnership n/a 0, 118 HSBC Middle East Securities L.L.C n/a 0, 119 HSBC Mortgage Corporation (Canada) 100.00 120 Subsidiaries % of share class held by immediate parent company (or by the Group where this varies) Footnotes HSBC Mortgage Corporation (USA) 100.00 26 HSBC Nominees (Asing) Sdn Bhd 100.00 49 HSBC Nominees (Hong Kong) Limited 100.00 54 HSBC Nominees (New Zealand) Limited 100.00 121 HSBC Nominees (Tempatan) Sdn Bhd 100.00 49 HSBC North America Holdings Inc. 100.00 3, 26 HSBC Operational Services GmbH 90.10 (72.68 ) 122 HSBC Overseas Holdings (UK) Limited 100.00 2, 17 HSBC Overseas Investments Corporation (New York) 100.00 123 HSBC Overseas Nominee (UK) Limited 100.00 17 HSBC Participaciones (Argentina) S.A. 100.00 (99.99 ) 124 HSBC PB Corporate Services 1 Limited 100.00 125 HSBC PB Services (Suisse) SA 100.00 126 HSBC Pension Trust (Ireland) DAC 100.00 127 HSBC Pensiones, S.A. 100.00 15 HSBC PI Holdings (Mauritius) Limited 100.00 103 HSBC Portfoy Yonetimi A.S. 100.00 (99.99 ) 128 HSBC Preferential LP (UK) 100.00 17 HSBC Private Bank (C.I.) Limited 100.00 20 HSBC Private Bank (Luxembourg) S.A. 100.00 114 HSBC Private Bank (Suisse) SA 100.00 126 HSBC Private Bank (UK) Limited 100.00 17 HSBC Private Bank International 100.00 129 HSBC Private Banking Holdings (Suisse) SA 100.00 126 HSBC Private Banking Nominee 3 (Jersey) Limited 100.00 125 HSBC Private Equity Advisors LLC n/a 0, 26 HSBC Private Equity Investments (UK) Limited 100.00 17 HSBC Private Trustee (Hong Kong) Limited 100.00 54 HSBC Private Wealth Services (Canada) Inc. 100.00 130 HSBC Professional Services (India) Private Limited 100.00 52 HSBC Property (UK) Limited 100.00 17 HSBC Property Funds (Holding) Limited 100.00 17 HSBC Provident Fund Trustee (Hong Kong) Limited 100.00 54 HSBC Qianhai Securities Limited 100.00 (51.00 ) 12, 131 HSBC Real Estate Leasing (France) 100.00 (99.99 ) 40 HSBC Realty Credit Corporation (USA) 100.00 26 HSBC REGIO Fund General Partner S.à r.l. 100.00 (99.99 ) 114 HSBC REIM (France) 100.00 (99.99 ) 40 HSBC Representative Office (Nigeria) Limited (In Liquidation) 100.00 132 HSBC Retirement Benefits Trustee (UK) Limited 100.00 1, 2, 17 HSBC Retirement Services Limited 100.00 1, 17 HSBC Saudi Arabia 51.00 (61.60 ) 133 HSBC Savings Bank (Philippines) Inc. 99.99 134 HSBC Securities (Asia) Limited 100.00 54 HSBC Securities (Canada) Inc. 100.00 101 HSBC Securities (Egypt) S.A.E. 100.00 (94.54 ) 67 HSBC Securities (Japan) Limited 100.00 17 HSBC Securities (Philippines) Inc. 99.99 9, 135 HSBC Securities (Singapore) Pte Limited 100.00 51 HSBC Securities (South Africa) (Pty) Limited 100.00 136 HSBC Securities (Taiwan) Corporation Limited 100.00 137 HSBC Securities (USA) Inc. 100.00 26 HSBC Securities and Capital Markets (India) Private Limited 99.99 52 HSBC Securities Asia International Nominees Limited (In Liquidation) 100.00 138 HSBC Securities Asia Nominees Limited 100.00 54 HSBC Securities Brokers (Asia) Limited 100.00 54 HSBC Securities Investments (Asia) Limited 100.00 54 HSBC Securities Services (Bermuda) Limited 100.00 21 HSBC Securities Services (Guernsey) Limited 100.00 20 HSBC Securities Services (Ireland) DAC 100.00 127 HSBC Securities Services (Luxembourg) S.A. 100.00 114 Subsidiaries % of share class held by immediate parent company (or by the Group where this varies) Footnotes HSBC Securities Services Holdings (Ireland) DAC 100.00 127 HSBC Securities Services Nominees Limited 100.00 54 HSBC Seguros de Retiro (Argentina) S.A. 100.00 (99.99 ) 53 HSBC Seguros de Vida (Argentina) S.A. 100.00 (99.99 ) 53 HSBC Seguros, S.A de C.V., Grupo Financiero HSBC 99.99 15 HSBC Service Delivery (Polska) Sp. z o.o. 100.00 139 HSBC Services (France) 100.00 (99.99 ) 37 HSBC Services Japan Limited 100.00 140 HSBC Services USA Inc. 100.00 141 HSBC Servicios Financieros, S.A. de C.V 100.00 (99.99 ) 15 HSBC Servicios, S.A. DE C.V., Grupo Financiero HSBC 100.00 (99.99 ) 15 HSBC SFH (France) 100.00 (99.99 ) 4, 40 HSBC Software Development (Guangdong) Limited 100.00 142 HSBC Software Development (India) Private Limited 100.00 143 HSBC Software Development (Malaysia) Sdn Bhd 100.00 81 HSBC Specialist Investments Limited 100.00 17 HSBC Stockbrokers Nominee (UK) Limited (In Liquidation) 100.00 32 HSBC Technology & Services (China) Limited 100.00 144 HSBC Technology & Services (USA) Inc. 100.00 26 HSBC Transaction Services GmbH 100.00 (80.67 ) 6, 145 HSBC Trinkaus & Burkhardt (International) S.A. 100.00 (80.67 ) 114 HSBC Trinkaus & Burkhardt AG 80.67 43 HSBC Trinkaus & Burkhardt Gesellschaft fur Bankbeteiligungen mbH 100.00 (80.67 ) 43 HSBC Trinkaus Europa Immobilien-Fonds Nr. 5 GmbH 100.00 (80.67 ) 43 HSBC Trinkaus Family Office GmbH 100.00 (80.67 ) 6, 43 HSBC Trinkaus Immobilien Beteiligungs KG 100.00 (80.67 ) 43 HSBC Trinkaus Real Estate GmbH 100.00 (80.67 ) 6, 43 HSBC Trust Company (Canada) 100.00 120 HSBC Trust Company (Delaware), National Association 100.00 108 HSBC Trust Company (UK) Limited 100.00 17 HSBC Trust Company AG (In Liquidation) 100.00 33 HSBC Trustee (C.I.) Limited 100.00 125 HSBC Trustee (Cayman) Limited 100.00 146 HSBC Trustee (Guernsey) Limited 100.00 20 HSBC Trustee (Hong Kong) Limited 100.00 54 HSBC Trustee (Singapore) Limited 100.00 51 HSBC UK Bank plc 100.00 16 HSBC UK Client Nominee Limited 100.00 16 HSBC UK Holdings Limited 100.00 2, 17 HSBC USA Inc. 100.00 123 HSBC Ventures USA Inc. 100.00 26 HSBC Violet Investments (Mauritius) Limited 100.00 78 HSBC Wealth Client Nominee Limited 100.00 1, 16 HSBC Yatirim Menkul Degerler A.S. 100.00 128 HSI Asset Securitization Corporation 100.00 26 HSI International Limited 100.00 (62.14 ) 42 HSIL Investments Limited 100.00 17 Hubei Macheng HSBC Rural Bank Company Limited 100.00 147 Hubei Suizhou Cengdu HSBC Rural Bank Company Limited 100.00 12, 148 Hubei Tianmen HSBC Rural Bank Company Limited 100.00 149 Hunan Pingjiang HSBC Rural Bank Company Limited 100.00 12, 150 Imenson Limited 100.00 (62.14 ) 42 INKA Internationale Kapitalanlagegesellschaft mbH 100.00 (80.67 ) 145 Inmobiliaria Banci, S.A. de C.V. 100.00 (99.68 ) 15 Subsidiaries % of share class held by immediate parent company (or by the Group where this varies) Footnotes Inmobiliaria Bisa, S.A. de C.V. 99.98 15 Inmobiliaria Grufin, S.A. de C.V. 100.00 (99.99 ) 15 Inmobiliaria Guatusi, S.A. de C.V. 100.00 (99.99 ) 15 IRERE Property Investments (French Offices) Sarl (In Liquidation) 100.00 151 James Capel & Co. Limited 100.00 17 James Capel (Nominees) Limited 100.00 17 James Capel (Taiwan) Nominees Limited 100.00 17 John Lewis Financial Services Limited 100.00 17 Keyser Ullmann Limited 100.00 (99.99 ) 17 Lion Corporate Services Limited 100.00 54 Lion International Corporate Services Limited 100.00 1, 110 Lion International Management Limited 100.00 110 Lion Management (Hong Kong) Limited 100.00 1, 54 Lyndholme Limited 100.00 54 Marks and Spencer Financial Services plc 100.00 152 Marks and Spencer Unit Trust Management Limited 100.00 152 Maxima S.A. AFJP (In Liquidation) 99.98 124 Mexicana de Fomento, S.A. de C.V. 100.00 (99.90 ) 15 Midcorp Limited 100.00 17 Midland Bank (Branch Nominees) Limited 100.00 16 Midland Nominees Limited 100.00 16 MIL (Cayman) Limited 100.00 153 MW Gestion SA 100.00 53 Promocion en Bienes Raices, S.A. de C.V. 100.00 (99.99 ) 15 Prudential Client HSBC GIS Nominee (UK) Limited 100.00 17 PT Bank HSBC Indonesia 98.93 154 PT HSBC Sekuritas Indonesia 100.00 (85.00 ) 155 R/CLIP Corp. 100.00 26 Real Estate Collateral Management Company 100.00 26 Republic Nominees Limited 100.00 20 Republic Overseas Capital Corporation 100.00 98 RLUKREF Nominees (UK) One Limited 100.00 1, 17 RLUKREF Nominees (UK) Two Limited 100.00 1, 17 S.A.P.C. - Ufipro Recouvrement 99.99 36 Saf Baiyun 100.00 (99.99 ) 4, 38 Saf Guangzhou 100.00 (99.99 ) 4, 38 Saf Zhu Jiang Shi Ba 100.00 (99.99 ) 4, 38 Saf Zhu Jiang Shi Er 100.00 (99.99 ) 4, 38 Saf Zhu Jiang Shi Jiu 100.00 (99.99 ) 4, 38 Saf Zhu Jiang Shi Liu 100.00 (99.99 ) 4, 38 Saf Zhu Jiang Shi Qi 100.00 (99.99 ) 4, 38 Saf Zhu Jiang Shi Wu 100.00 (99.99 ) 4, 38 SAS Cyatheas Pasteur 94.93 4, 36 SCI HSBC Assurances Immo 100.00 (99.99 ) 40 Serai Limited 100.00 1, 54 SFM 100.00 (99.99 ) 37 SFSS Nominees (Pty) Limited 100.00 156 Shandong Rongcheng HSBC Rural Bank Company Limited 100.00 12, 157 Sico Limited 100.00 158 SNC Dorique 99.99 1, 11, 159 SNC Kerouan 99.99 11, 38 SNC Les Mercuriales 100.00 (99.99 ) 1, 11, 38 SNC Les Oliviers D'Antibes 60.00 40 SNC Makala 100.00 (99.99 ) 1, 11, 38 SNCB/M6 - 2008 A 100.00 (99.99 ) 38 SNCB/M6-2007 A 100.00 (99.99 ) 4, 38 SNCB/M6-2007 B 100.00 (99.99 ) 4, 38 Société Française et Suisse 100.00 (99.99 ) 38 Societe Immobiliere Atlas S.A. (In Liquidation) 100.00 126 Somers Dublin DAC 100.00 (99.99 ) 127 Somers Nominees (Far East) Limited 100.00 21 Sopingest 100.00 (99.99 ) 38 South Yorkshire Light Rail Limited 100.00 17 Subsidiaries % of share class held by immediate parent company (or by the Group where this varies) Footnotes St Cross Trustees Limited 100.00 16 Sun Hung Kai Development (Lujiazui III) Limited 100.00 12, 160 Swan National Leasing (Commercials) Limited (In Liquidation) 100.00 32 Swan National Limited 100.00 17 HSBC Odeme Sistemleri Bilgisayar Teknolojileri Basin Yayin Ve Musteri Hizmetleri (In Liquidation) 100.00 (99.99 ) 161 Thasosfin 100.00 (99.99 ) 40 The Hongkong and Shanghai Banking Corporation Limited 100.00 5, 54 The Venture Catalysts Limited 100.00 17 Tooley Street View Limited 100.00 2, 17 Tower Investment Management 100.00 162 Trinkaus Australien Immobilien Fonds Nr. 1 Brisbane GmbH & Co. KG 100.00 (80.67 ) 43 Trinkaus Australien Immobilien-Fonds Nr. 1 Treuhand-GmbH 100.00 (80.67 ) 6, 43 Trinkaus Europa Immobilien-Fonds Nr.3 Objekt Utrecht Verwaltungs-GmbH 100.00 (80.67 ) 43 Trinkaus Immobilien-Fonds Geschaeftsfuehrungs-GmbH 100.00 (80.67 ) 6, 43 Trinkaus Immobilien-Fonds Verwaltungs-GmbH 100.00 (80.67 ) 6, 43 Trinkaus Private Equity Management GmbH 100.00 (80.67 ) 43 Trinkaus Private Equity Verwaltungs GmbH 100.00 (80.67 ) 6, 43 Tropical Nominees Limited 100.00 153 Turnsonic (Nominees) Limited 100.00 16 Valeurs Mobilières Elysées 100.00 (99.99 ) 163 Wardley Limited 100.00 54 Wayfoong Nominees Limited 100.00 54 Wayhong (Bahamas) Limited 100.00 100 Westminster House, LLC n/a 0, 26 Woodex Limited 100.00 21 Yan Nin Development Company Limited 100.00 (62.14 ) 42 |
Structured entities (Tables)
Structured entities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Interests In Other Entities [Abstract] | |
Disclosure of total assets of consolidated structured entities | Total assets of HSBC’s consolidated structured entities, split by entity type Conduits Securitisations HSBC Other Total $bn $bn $bn $bn $bn At 31 Dec 2019 8.6 9.6 6.8 6.7 31.7 At 31 Dec 2018 9.2 5.7 6.5 4.4 25.8 |
Disclosure of information about unconsolidated structured entities | Nature and risks associated with HSBC interests in unconsolidated structured entities Securitisations HSBC managed funds Non-HSBC managed funds Other Total Total asset values of the entities ($m) 0–500 91 236 670 70 1,067 500–2,000 12 70 642 7 731 2,000–5,000 — 28 345 — 373 5,000–25,000 — 14 260 — 274 25,000+ — 3 39 2 44 Number of entities at 31 Dec 2019 103 351 1,956 79 2,489 $bn $bn $bn $bn $bn Total assets in relation to HSBC’s interests in the unconsolidated structured entities 5.3 9.1 15.1 4.2 33.7 – trading assets — 0.2 3.5 1.3 5 – financial assets designated and otherwise mandatorily measured at fair value — 8.4 10.7 — 19.1 – loans and advances to customers 5.3 — 0.4 2.3 8 – financial investments — 0.5 0.5 — 1 – other assets — — — 0.6 0.6 Total liabilities in relation to HSBC’s interests in the unconsolidated structured entities — — — 0.3 0.3 – other liabilities — — — 0.3 0.3 Other off-balance sheet commitments 0.3 0.3 3.9 0.7 5.2 HSBC’s maximum exposure at 31 Dec 2019 5.6 9.4 19.0 4.6 38.6 Total asset values of the entities ($m) 0–500 76 243 906 79 1,304 500–2,000 10 56 570 5 641 2,000–5,000 1 17 230 — 248 5,000–25,000 — 5 90 1 96 25,000+ — 2 10 — 12 Number of entities at 31 Dec 2018 87 323 1,806 85 2,301 $bn $bn $bn $bn $bn Total assets in relation to HSBC’s interests in the unconsolidated structured entities 3.8 8.3 8.9 4.7 25.7 – trading assets — 0.1 0.3 1.3 1.7 – financial assets designated and otherwise mandatorily measured at fair value — 7.3 7.9 — 15.2 – loans and advances to customers 3.8 — 0.3 2.7 6.8 – financial investments — 0.9 0.4 0.3 1.6 – other assets — — — 0.4 0.4 Total liabilities in relation to HSBC’s interests in the unconsolidated structured entities — — — 0.2 0.2 – other liabilities — — — 0.2 0.2 Other off-balance sheet commitments 0.8 0.1 3.3 1.0 5.2 HSBC’s maximum exposure at 31 Dec 2018 4.6 8.4 12.2 5.5 30.7 |
Goodwill and intangible assets
Goodwill and intangible assets (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Intangible Assets [Abstract] | |
Disclosure of components of goodwill and intangible assets | 2019 2018 Footnotes $m $m Goodwill 5,590 12,986 Present value of in-force long-term insurance business 8,945 7,149 Other intangible assets 1 5,628 4,222 At 31 Dec 20,163 24,357 1 Included within other intangible assets is internally generated software with a net carrying value of $ 4,829m (2018: $ 3,632m ). During the year, capitalisation of internally generated software was $ 2,086m (2018: $ 1,781m ) and amortisation was $ 947m (2018: $ 687m ). |
Disclosure of reconciliation of changes in intangible assets and goodwill | Movement analysis of goodwill 2019 2018 $m $m Gross amount At 1 Jan 22,180 22,902 Exchange differences (154 ) (617 ) Other 58 (105 ) At 31 Dec 22,084 22,180 Accumulated impairment losses At 1 Jan (9,194 ) (9,314 ) Impairment losses (7,349 ) — Exchange differences 49 120 At 31 Dec (16,494 ) (9,194 ) Net carrying amount at 31 Dec 5,590 12,986 Movements in PVIF 2019 2018 Footnotes $m $m As at 31 Dec 2017 7,149 6,610 Impact on transition to IFRS 9 NA (78 ) At 1 Jan 7,149 6,532 Change in PVIF of long-term insurance business 1,749 673 – value of new business written during the year 1,225 1,117 – expected return 1 (836 ) (719 ) – assumption changes and experience variances (see below) 1,378 292 – other adjustments (18 ) (17 ) Exchange differences and other movements 47 (56 ) At 31 Dec 8,945 7,149 1 ‘Expected return’ represents the unwinding of the discount rate and reversal of expected cash flows for the period. |
Disclosure impairment results and key assumptions in VIU calculation | Impairment results and key assumptions in VIU calculation – impaired CGUs Carrying amount of which goodwill Value in use Impairment Discount rate Growth rate beyond initial cash flow projections $bn $bn $bn $bn % % Cash-generating unit GB&M 60.7 4.0 55.8 4.0 9.5 2.0 Europe – CMB 20.0 2.5 17.5 2.5 9.5 1.8 North America – GPB 0.9 0.4 0.5 0.4 9.5 2.1 Latin America – CMB 1.3 0.3 1.0 0.3 17.0 3.6 Middle East and North Africa – CMB 2.6 0.1 1.5 0.1 13.3 2.4 2019 impairment recognised 7.3 |
Disclosure of key assumption in value in use calculation | Key assumptions in VIU calculation – significant CGUs at 31 December 2019 Goodwill at 31 Dec 2019 Discount rate Growth rate beyond initial cash flow Goodwill at Discount Nominal growth rate beyond initial cash flow projections Goodwill at Discount rate Nominal growth rate beyond initial cash flow projections $m % % $m % % $m % % Cash-generating unit Europe – RBWM 3,464 8.3 1.7 3,496 8.3 3.2 3,565 8.1 3.8 Sensitivity of VIU to reasonably possible changes in key assumptions and changes to current assumptions to achieve nil headroom Europe – RBWM In $ billions (unless otherwise stated) $bn At 31 December 2019 Carrying amount 10.1 VIU 16.7 Impact on VIU 100 bps increase in the discount rate – single variable (2.3 ) 30% decrease in cash flow projections – single variable (5.6 ) Cumulative impact of all changes (7.1 ) Changes to key assumption to reduce headroom to NIL – single variable Discount rate – bps 397 Cash flows – % (39.4 ) Input Key assumptions Associated risks Reasonably possible change Cash-generating unit Europe – RBWM Cash flow projections • Level of interest rates and yield curves. • Competitors’ position within the market. • Level and change in unemployment rates. • Uncertain regulatory environment. • Customer remediation and regulatory actions. • Cash flow projections decrease by 30%. This does not result in an impairment. Discount rate • Discount rate used is a reasonable estimate of a suitable market rate for the profile of the business. • External evidence suggests that the rate used is not appropriate to the business. • Discount rate increases by 100 bps. This does not result in an impairment. |
Disclosure of assumptions for long-duration contracts | 2019 2018 Hong Kong France 1 Hong Kong France 1 % % % % Weighted average risk-free rate 1.84 0.44 2.29 1.52 Weighted average risk discount rate 5.44 1.27 5.90 2.35 Expense inflation 3.00 1.70 3.00 1.70 1 For 2019, the calculation of France’s PVIF assumes a risk discount rate of 1.27% (2018: 2.35% ) plus a risk margin of $130m (2018: $109m ). |
Prepayments, accrued income a_2
Prepayments, accrued income and other assets (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Disclosure of detailed information about prepayments, accrued income and other assets | 2019 2018 Footnotes $m $m Prepayments and accrued income 9,057 8,715 Settlement accounts 14,744 13,957 Cash collateral and margin receivables 49,148 33,202 Assets held for sale 123 735 Bullion 14,830 13,753 Endorsements and acceptances 10,198 9,623 Reinsurers’ share of liabilities under insurance contracts (Note 4) 3,592 2,506 Employee benefit assets (Note 5) 8,280 7,934 Right-of-use assets 1 4,222 N/A Owned property, plant and equipment 10,480 10,060 Other accounts 12,006 10,086 At 31 Dec 136,680 110,571 1 Right-of-use assets have been recognised from 1 January 2019 following the adoption of IFRS 16. Comparatives have not been restated. |
Trading liabilities (Tables)
Trading liabilities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Financial Instruments [Abstract] | |
Disclosure of trading liabilities | 2019 2018 Footnotes $m $m Deposits by banks 1 4,187 4,871 Customer accounts 1 6,999 8,614 Other debt securities in issue (Note 25) 1,404 1,400 Other liabilities – net short positions in securities 70,580 69,546 At 31 Dec 83,170 84,431 1 ‘Deposits by banks’ and ‘Customer accounts’ include repos, stock lending and other amounts. HSBC 2019 2018 Footnotes $m $m Deposits by banks and customer accounts 1 17,660 19,003 Liabilities to customers under investment contracts 5,893 5,458 Debt securities in issue (Note 25) 130,364 109,351 Subordinated liabilities (Note 28) 10,130 14,282 Preferred securities (Note 28) 419 411 At 31 Dec 164,466 148,505 1 Structured deposits placed at HSBC Bank USA and HSBC Trust Company (Delaware) National Association are insured by the Federal Deposit Insurance Corporation, a US government agency, up to $250,000 per depositor. HSBC Holdings 2019 2018 $m $m Debt securities in issue (Note 25) 24,687 17,767 Subordinated liabilities (Note 28) 5,616 7,282 At 31 Dec 30,303 25,049 HSBC’s subordinated liabilities 2019 2018 $m $m At amortised cost 24,600 22,437 – subordinated liabilities 22,775 20,651 – preferred securities 1,825 1,786 Designated at fair value (Note 24) 10,549 14,693 – subordinated liabilities 10,130 14,282 – preferred securities 419 411 At 31 Dec 35,149 37,130 Issued by HSBC subsidiaries 12,363 13,168 Issued by HSBC Holdings 22,786 23,962 HSBC’s subsidiaries subordinated liabilities in issue 2019 2018 Footnotes First call date Maturity date $m $m Additional tier 1 capital securities guaranteed by HSBC Holdings 1 $900m 10.176% non-cumulative step-up perpetual preferred securities, series 2 Jun 2030 900 892 900 892 Additional tier 1 capital securities guaranteed by HSBC Bank plc 1 £300m 5.862% non-cumulative step-up perpetual preferred securities Apr 2020 420 411 £700m 5.844% non-cumulative step-up perpetual preferred securities Nov 2031 925 894 1,345 1,305 Tier 2 securities issued by HSBC Bank plc $750m Undated floating rate primary capital notes Jun 1990 750 750 $500m Undated floating rate primary capital notes Sep 1990 500 500 $300m Undated floating rate primary capital notes, series 3 Jun 1992 300 300 $300m 7.65% subordinated notes — May 2025 300 300 1,850 1,850 £300m 6.50% subordinated notes — Jul 2023 396 382 £350m 5.375% callable subordinated step-up notes 2 Nov 2025 Nov 2030 549 513 £500m 5.375% subordinated notes — Aug 2033 875 757 £225m 6.25% subordinated notes — Jan 2041 296 286 £600m 4.75% subordinated notes — Mar 2046 785 758 4,751 4,546 Tier 2 securities issued by The Hongkong and Shanghai Banking Corporation Ltd $400m Primary capital undated floating rate notes (third series) Jul 1991 400 400 400 400 Tier 2 securities issued by HSBC Bank Malaysia Berhad MYR500m 5.05% subordinated bonds Nov 2022 Nov 2027 122 121 122 121 Tier 2 securities issued by HSBC USA Inc. $750m 5.00% subordinated notes 6 — Sep 2020 748 747 $250m 7.20% subordinated debentures 6 — Jul 2097 221 221 Other subordinated liabilities each less than $150m 3 202 269 1,171 1,237 Tier 2 securities issued by HSBC Bank USA, N.A. $1,250m 4.875% subordinated notes — Aug 2020 1,246 1,226 $1,000m 5.875% subordinated notes 4 — Nov 2034 463 1,106 $750m 5.625% subordinated notes 4 — Aug 2035 496 829 $700m 7.00% subordinated notes — Jan 2039 700 697 2,905 3,858 Tier 2 securities issued by HSBC Finance Corporation $2,939m 6.676% senior subordinated notes 5, 6 — Jan 2021 507 507 Tier 2 securities issued by HSBC Bank Canada Other subordinated liabilities each less than $150m Oct 1996 Nov 2083 26 29 26 29 Securities issued by other HSBC subsidiaries Other subordinated liabilities each less than $200m 3 236 273 Subordinated liabilities issued by HSBC subsidiaries at 31 Dec 7 12,363 13,168 1 See paragraph below, ‘Guaranteed by HSBC Holdings or HSBC Bank plc’. 2 The interest rate payable after November 2025 is the sum of the three-month sterling Libor plus 1.5 percentage points. 3 Some securities included here are ineligible for inclusion in the capital base of HSBC. 4 HSBC tendered for these securities in November 2019. The principal balance is $358m and $383m respectively. The original notional of these securities are $1,000m and $750m respectively. 5 HSBC tendered for these securities in 2017. In January 2018, a further tender was conducted. The principal balance is $507m . The original notional of these securities is $2,939m . 6 These securities are ineligible for inclusion in the capital base of HSBC. 7 Approximately $60m of these securities were held by HSBC Holdings. HSBC Holdings’ subordinated liabilities 2019 2018 $m $m At amortised cost 18,361 17,715 Designated at fair value (Note 24) 5,616 7,282 At 31 Dec 23,977 24,997 HSBC Holdings’ subordinated liabilities in issue First call Maturity 2019 2018 Footnotes date date $m $m Tier 2 securities issued by HSBC Holdings Amounts owed to third parties $2,000m 4.25% subordinated notes 2,3 — Mar 2024 2,076 2,001 $1,500m 4.25% subordinated notes 2 — Aug 2025 1,611 1,494 $1,500m 4.375% subordinated notes 2 — Nov 2026 1,626 1,470 $488m 7.625% subordinated notes 1 — May 2032 545 549 $222m 7.35% subordinated notes 1 — Nov 2032 245 246 $2,000m 6.5% subordinated notes 1 — May 2036 2,036 2,040 $2,500m 6.5% subordinated notes 1 — Sep 2037 2,738 2,419 $1,500m 6.8% subordinated notes 1 — Jun 2038 1,490 1,489 $1,500m 5.25% subordinated notes 2,3 — Mar 2044 1,886 1,661 £650m 5.75% subordinated notes 2 — Dec 2027 1,059 960 £650m 6.75% subordinated notes 2 — Sep 2028 855 826 £750m 7.0% subordinated notes 2 — Apr 2038 1,064 992 £900m 6.0% subordinated notes 2 — Mar 2040 1,294 1,156 €1,750m 6.0% subordinated notes 2 — Jun 2019 — 2,125 €1,500m 3.375% subordinated notes 2,3 Jan 2019 Jan 2024 — 1,719 €1,500m 3.0% subordinated notes 2 — Jun 2025 1,736 1,725 €1,000m 3.125% subordinated notes 2 — Jun 2028 1,321 1,233 21,582 24,105 Amounts owed to HSBC undertakings $900m 10.176% subordinated step-up cumulative notes Jun 2030 Jun 2040 892 892 892 892 Other securities issued by HSBC Holdings Amounts owed to third parties $1,500m 5.625% contingent convertible securities 4 Nov 2019 Jan 2020 1,503 — 1,503 — At 31 Dec 23,977 24,997 1 Amounts owed to third parties represent securities included in the capital base of HSBC as tier 2 securities in accordance with the grandfathering provisions under CRR II. Prior period figures are included on a CRD IV basis. 2 These securities are included in the capital base of HSBC as fully CRR II-compliant tier 2 securities on an end point basis. 3 These subordinated notes are measured at amortised cost in HSBC Holdings, where the interest rate risk is hedged using a fair value hedge, while they are measured at fair value in the Group. 4 This security was called by HSBC Holdings on 22 November 2019 and was redeemed and cancelled on 17 January 2020. Between the date of exercise of the call option and the redemption, this security was considered to be a subordinated liability. Refer to Note 31 for further details on additional Tier 1 securities. |
Financial liabilties designat_2
Financial liabilties designated at fair value (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Financial Instruments [Abstract] | |
Disclosure of financial liabilities measured at fair value | 2019 2018 Footnotes $m $m Deposits by banks 1 4,187 4,871 Customer accounts 1 6,999 8,614 Other debt securities in issue (Note 25) 1,404 1,400 Other liabilities – net short positions in securities 70,580 69,546 At 31 Dec 83,170 84,431 1 ‘Deposits by banks’ and ‘Customer accounts’ include repos, stock lending and other amounts. HSBC 2019 2018 Footnotes $m $m Deposits by banks and customer accounts 1 17,660 19,003 Liabilities to customers under investment contracts 5,893 5,458 Debt securities in issue (Note 25) 130,364 109,351 Subordinated liabilities (Note 28) 10,130 14,282 Preferred securities (Note 28) 419 411 At 31 Dec 164,466 148,505 1 Structured deposits placed at HSBC Bank USA and HSBC Trust Company (Delaware) National Association are insured by the Federal Deposit Insurance Corporation, a US government agency, up to $250,000 per depositor. HSBC Holdings 2019 2018 $m $m Debt securities in issue (Note 25) 24,687 17,767 Subordinated liabilities (Note 28) 5,616 7,282 At 31 Dec 30,303 25,049 HSBC’s subordinated liabilities 2019 2018 $m $m At amortised cost 24,600 22,437 – subordinated liabilities 22,775 20,651 – preferred securities 1,825 1,786 Designated at fair value (Note 24) 10,549 14,693 – subordinated liabilities 10,130 14,282 – preferred securities 419 411 At 31 Dec 35,149 37,130 Issued by HSBC subsidiaries 12,363 13,168 Issued by HSBC Holdings 22,786 23,962 HSBC’s subsidiaries subordinated liabilities in issue 2019 2018 Footnotes First call date Maturity date $m $m Additional tier 1 capital securities guaranteed by HSBC Holdings 1 $900m 10.176% non-cumulative step-up perpetual preferred securities, series 2 Jun 2030 900 892 900 892 Additional tier 1 capital securities guaranteed by HSBC Bank plc 1 £300m 5.862% non-cumulative step-up perpetual preferred securities Apr 2020 420 411 £700m 5.844% non-cumulative step-up perpetual preferred securities Nov 2031 925 894 1,345 1,305 Tier 2 securities issued by HSBC Bank plc $750m Undated floating rate primary capital notes Jun 1990 750 750 $500m Undated floating rate primary capital notes Sep 1990 500 500 $300m Undated floating rate primary capital notes, series 3 Jun 1992 300 300 $300m 7.65% subordinated notes — May 2025 300 300 1,850 1,850 £300m 6.50% subordinated notes — Jul 2023 396 382 £350m 5.375% callable subordinated step-up notes 2 Nov 2025 Nov 2030 549 513 £500m 5.375% subordinated notes — Aug 2033 875 757 £225m 6.25% subordinated notes — Jan 2041 296 286 £600m 4.75% subordinated notes — Mar 2046 785 758 4,751 4,546 Tier 2 securities issued by The Hongkong and Shanghai Banking Corporation Ltd $400m Primary capital undated floating rate notes (third series) Jul 1991 400 400 400 400 Tier 2 securities issued by HSBC Bank Malaysia Berhad MYR500m 5.05% subordinated bonds Nov 2022 Nov 2027 122 121 122 121 Tier 2 securities issued by HSBC USA Inc. $750m 5.00% subordinated notes 6 — Sep 2020 748 747 $250m 7.20% subordinated debentures 6 — Jul 2097 221 221 Other subordinated liabilities each less than $150m 3 202 269 1,171 1,237 Tier 2 securities issued by HSBC Bank USA, N.A. $1,250m 4.875% subordinated notes — Aug 2020 1,246 1,226 $1,000m 5.875% subordinated notes 4 — Nov 2034 463 1,106 $750m 5.625% subordinated notes 4 — Aug 2035 496 829 $700m 7.00% subordinated notes — Jan 2039 700 697 2,905 3,858 Tier 2 securities issued by HSBC Finance Corporation $2,939m 6.676% senior subordinated notes 5, 6 — Jan 2021 507 507 Tier 2 securities issued by HSBC Bank Canada Other subordinated liabilities each less than $150m Oct 1996 Nov 2083 26 29 26 29 Securities issued by other HSBC subsidiaries Other subordinated liabilities each less than $200m 3 236 273 Subordinated liabilities issued by HSBC subsidiaries at 31 Dec 7 12,363 13,168 1 See paragraph below, ‘Guaranteed by HSBC Holdings or HSBC Bank plc’. 2 The interest rate payable after November 2025 is the sum of the three-month sterling Libor plus 1.5 percentage points. 3 Some securities included here are ineligible for inclusion in the capital base of HSBC. 4 HSBC tendered for these securities in November 2019. The principal balance is $358m and $383m respectively. The original notional of these securities are $1,000m and $750m respectively. 5 HSBC tendered for these securities in 2017. In January 2018, a further tender was conducted. The principal balance is $507m . The original notional of these securities is $2,939m . 6 These securities are ineligible for inclusion in the capital base of HSBC. 7 Approximately $60m of these securities were held by HSBC Holdings. HSBC Holdings’ subordinated liabilities 2019 2018 $m $m At amortised cost 18,361 17,715 Designated at fair value (Note 24) 5,616 7,282 At 31 Dec 23,977 24,997 HSBC Holdings’ subordinated liabilities in issue First call Maturity 2019 2018 Footnotes date date $m $m Tier 2 securities issued by HSBC Holdings Amounts owed to third parties $2,000m 4.25% subordinated notes 2,3 — Mar 2024 2,076 2,001 $1,500m 4.25% subordinated notes 2 — Aug 2025 1,611 1,494 $1,500m 4.375% subordinated notes 2 — Nov 2026 1,626 1,470 $488m 7.625% subordinated notes 1 — May 2032 545 549 $222m 7.35% subordinated notes 1 — Nov 2032 245 246 $2,000m 6.5% subordinated notes 1 — May 2036 2,036 2,040 $2,500m 6.5% subordinated notes 1 — Sep 2037 2,738 2,419 $1,500m 6.8% subordinated notes 1 — Jun 2038 1,490 1,489 $1,500m 5.25% subordinated notes 2,3 — Mar 2044 1,886 1,661 £650m 5.75% subordinated notes 2 — Dec 2027 1,059 960 £650m 6.75% subordinated notes 2 — Sep 2028 855 826 £750m 7.0% subordinated notes 2 — Apr 2038 1,064 992 £900m 6.0% subordinated notes 2 — Mar 2040 1,294 1,156 €1,750m 6.0% subordinated notes 2 — Jun 2019 — 2,125 €1,500m 3.375% subordinated notes 2,3 Jan 2019 Jan 2024 — 1,719 €1,500m 3.0% subordinated notes 2 — Jun 2025 1,736 1,725 €1,000m 3.125% subordinated notes 2 — Jun 2028 1,321 1,233 21,582 24,105 Amounts owed to HSBC undertakings $900m 10.176% subordinated step-up cumulative notes Jun 2030 Jun 2040 892 892 892 892 Other securities issued by HSBC Holdings Amounts owed to third parties $1,500m 5.625% contingent convertible securities 4 Nov 2019 Jan 2020 1,503 — 1,503 — At 31 Dec 23,977 24,997 1 Amounts owed to third parties represent securities included in the capital base of HSBC as tier 2 securities in accordance with the grandfathering provisions under CRR II. Prior period figures are included on a CRD IV basis. 2 These securities are included in the capital base of HSBC as fully CRR II-compliant tier 2 securities on an end point basis. 3 These subordinated notes are measured at amortised cost in HSBC Holdings, where the interest rate risk is hedged using a fair value hedge, while they are measured at fair value in the Group. 4 This security was called by HSBC Holdings on 22 November 2019 and was redeemed and cancelled on 17 January 2020. Between the date of exercise of the call option and the redemption, this security was considered to be a subordinated liability. Refer to Note 31 for further details on additional Tier 1 securities. |
Debt securities in issue (Table
Debt securities in issue (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure Of Debt Securities In Issue [Abstract] | |
Debt securities in issue | HSBC 2019 2018 $m $m Bonds and medium-term notes 180,969 162,277 Other debt securities in issue 55,354 33,816 Total debt securities in issue 236,323 196,093 Included within: – trading liabilities (Note 23) (1,404 ) (1,400 ) – financial liabilities designated at fair value (Note 24) (130,364 ) (109,351 ) At 31 Dec 104,555 85,342 HSBC Holdings 2019 2018 $m $m Debt securities 81,531 68,567 Included within: – financial liabilities designated at fair value (Note 24) (24,687 ) (17,767 ) At 31 Dec 56,844 50,800 |
Accruals, deferred income and_2
Accruals, deferred income and other liabilities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Disclosure of detailed information about accruals, deferred income and other liabilities | 2019 2018 $m $m Accruals and deferred income 11,808 11,296 Settlement accounts 14,356 13,022 Cash collateral and margin payables 56,646 41,044 Endorsements and acceptances 10,127 9,633 Employee benefit liabilities (Note 5) 1,771 2,167 Lease liabilities 1 4,604 N/A Other liabilities 18,844 20,218 At 31 Dec 118,156 97,380 1 Lease liabilities have been recognised from 1 January 2019 following the adoption of IFRS 16. Comparatives have not been restated. |
Provisions (Tables)
Provisions (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Other Provisions, Contingent Liabilities And Contingent Assets [Abstract] | |
Disclosure of other provisions rollforward | Restructuring Legal proceedings Customer Other Total $m $m $m $m $m Provisions (excluding contractual commitments) At 1 Jan 2019 130 1,128 788 357 2,403 Additions 402 282 1,674 223 2,581 Amounts utilised (203 ) (660 ) (837 ) (81 ) (1,781 ) Unused amounts reversed (34 ) (158 ) (49 ) (108 ) (349 ) Exchange and other movements 61 13 70 (111 ) 33 At 31 Dec 2019 356 605 1,646 280 2,887 Contractual commitments 1 At 1 Jan 2019 517 Net change in expected credit loss provision and other movements (6 ) At 31 Dec 2019 511 Total provisions At 31 Dec 2018 2,920 At 31 Dec 2019 3,398 Restructuring costs Legal proceedings and regulatory matters Customer remediation Other provisions Total $m $m $m $m $m Provisions (excluding contractual commitments) At 31 Dec 2017 334 1,501 1,454 469 3,758 Additions 73 1,132 288 232 1,725 Amounts utilised (158 ) (1,255 ) (838 ) (143 ) (2,394 ) Unused amounts reversed (107 ) (279 ) (90 ) (131 ) (607 ) Exchange and other movements (12 ) 29 (26 ) (70 ) (79 ) At 31 Dec 2018 130 1,128 788 357 2,403 Contractual commitments 1 At 1 Jan 2018 537 Net change in expected credit loss provision and other movements (20 ) At 31 Dec 2018 517 Total provisions At 31 Dec 2017 4,011 At 31 Dec 2018 2,920 1 Contractual commitments include the provision for contingent liabilities measured under IFRS 9 ‘Financial Instruments’ in respect of financial guarantees and the expected credit loss provision on off-balance sheet guarantees and commitments. |
Disclosure of insurance complaints received | Cumulative PPI complaints received to 31 December 2019 Footnotes Cumulative actual to Information requests received during autoconversion period (000s) 1 1,889 Information requests awaiting evaluation (000s) 234 Remaining autoconverted claims anticipated to be worked (000s) 1 167 Remaining reactive claims anticipated to be worked (000s) 1 44 Total remaining claims anticipated to be worked (000s) 1 211 Average uphold rate per claim 2 86 % Average redress per claim ($) 3 3,226 1 Excludes invalid claims for which no PPI policy exists. 2 Including inbound and autoconverted claims, but excludes FOS complaints. 3 Including inbound and autoconverted claims, but excludes claims from the Official Receiver. |
Subordinated liabilities (Table
Subordinated liabilities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Financial Instruments [Abstract] | |
Disclosure of financial liabilities | 2019 2018 Footnotes $m $m Deposits by banks 1 4,187 4,871 Customer accounts 1 6,999 8,614 Other debt securities in issue (Note 25) 1,404 1,400 Other liabilities – net short positions in securities 70,580 69,546 At 31 Dec 83,170 84,431 1 ‘Deposits by banks’ and ‘Customer accounts’ include repos, stock lending and other amounts. HSBC 2019 2018 Footnotes $m $m Deposits by banks and customer accounts 1 17,660 19,003 Liabilities to customers under investment contracts 5,893 5,458 Debt securities in issue (Note 25) 130,364 109,351 Subordinated liabilities (Note 28) 10,130 14,282 Preferred securities (Note 28) 419 411 At 31 Dec 164,466 148,505 1 Structured deposits placed at HSBC Bank USA and HSBC Trust Company (Delaware) National Association are insured by the Federal Deposit Insurance Corporation, a US government agency, up to $250,000 per depositor. HSBC Holdings 2019 2018 $m $m Debt securities in issue (Note 25) 24,687 17,767 Subordinated liabilities (Note 28) 5,616 7,282 At 31 Dec 30,303 25,049 HSBC’s subordinated liabilities 2019 2018 $m $m At amortised cost 24,600 22,437 – subordinated liabilities 22,775 20,651 – preferred securities 1,825 1,786 Designated at fair value (Note 24) 10,549 14,693 – subordinated liabilities 10,130 14,282 – preferred securities 419 411 At 31 Dec 35,149 37,130 Issued by HSBC subsidiaries 12,363 13,168 Issued by HSBC Holdings 22,786 23,962 HSBC’s subsidiaries subordinated liabilities in issue 2019 2018 Footnotes First call date Maturity date $m $m Additional tier 1 capital securities guaranteed by HSBC Holdings 1 $900m 10.176% non-cumulative step-up perpetual preferred securities, series 2 Jun 2030 900 892 900 892 Additional tier 1 capital securities guaranteed by HSBC Bank plc 1 £300m 5.862% non-cumulative step-up perpetual preferred securities Apr 2020 420 411 £700m 5.844% non-cumulative step-up perpetual preferred securities Nov 2031 925 894 1,345 1,305 Tier 2 securities issued by HSBC Bank plc $750m Undated floating rate primary capital notes Jun 1990 750 750 $500m Undated floating rate primary capital notes Sep 1990 500 500 $300m Undated floating rate primary capital notes, series 3 Jun 1992 300 300 $300m 7.65% subordinated notes — May 2025 300 300 1,850 1,850 £300m 6.50% subordinated notes — Jul 2023 396 382 £350m 5.375% callable subordinated step-up notes 2 Nov 2025 Nov 2030 549 513 £500m 5.375% subordinated notes — Aug 2033 875 757 £225m 6.25% subordinated notes — Jan 2041 296 286 £600m 4.75% subordinated notes — Mar 2046 785 758 4,751 4,546 Tier 2 securities issued by The Hongkong and Shanghai Banking Corporation Ltd $400m Primary capital undated floating rate notes (third series) Jul 1991 400 400 400 400 Tier 2 securities issued by HSBC Bank Malaysia Berhad MYR500m 5.05% subordinated bonds Nov 2022 Nov 2027 122 121 122 121 Tier 2 securities issued by HSBC USA Inc. $750m 5.00% subordinated notes 6 — Sep 2020 748 747 $250m 7.20% subordinated debentures 6 — Jul 2097 221 221 Other subordinated liabilities each less than $150m 3 202 269 1,171 1,237 Tier 2 securities issued by HSBC Bank USA, N.A. $1,250m 4.875% subordinated notes — Aug 2020 1,246 1,226 $1,000m 5.875% subordinated notes 4 — Nov 2034 463 1,106 $750m 5.625% subordinated notes 4 — Aug 2035 496 829 $700m 7.00% subordinated notes — Jan 2039 700 697 2,905 3,858 Tier 2 securities issued by HSBC Finance Corporation $2,939m 6.676% senior subordinated notes 5, 6 — Jan 2021 507 507 Tier 2 securities issued by HSBC Bank Canada Other subordinated liabilities each less than $150m Oct 1996 Nov 2083 26 29 26 29 Securities issued by other HSBC subsidiaries Other subordinated liabilities each less than $200m 3 236 273 Subordinated liabilities issued by HSBC subsidiaries at 31 Dec 7 12,363 13,168 1 See paragraph below, ‘Guaranteed by HSBC Holdings or HSBC Bank plc’. 2 The interest rate payable after November 2025 is the sum of the three-month sterling Libor plus 1.5 percentage points. 3 Some securities included here are ineligible for inclusion in the capital base of HSBC. 4 HSBC tendered for these securities in November 2019. The principal balance is $358m and $383m respectively. The original notional of these securities are $1,000m and $750m respectively. 5 HSBC tendered for these securities in 2017. In January 2018, a further tender was conducted. The principal balance is $507m . The original notional of these securities is $2,939m . 6 These securities are ineligible for inclusion in the capital base of HSBC. 7 Approximately $60m of these securities were held by HSBC Holdings. HSBC Holdings’ subordinated liabilities 2019 2018 $m $m At amortised cost 18,361 17,715 Designated at fair value (Note 24) 5,616 7,282 At 31 Dec 23,977 24,997 HSBC Holdings’ subordinated liabilities in issue First call Maturity 2019 2018 Footnotes date date $m $m Tier 2 securities issued by HSBC Holdings Amounts owed to third parties $2,000m 4.25% subordinated notes 2,3 — Mar 2024 2,076 2,001 $1,500m 4.25% subordinated notes 2 — Aug 2025 1,611 1,494 $1,500m 4.375% subordinated notes 2 — Nov 2026 1,626 1,470 $488m 7.625% subordinated notes 1 — May 2032 545 549 $222m 7.35% subordinated notes 1 — Nov 2032 245 246 $2,000m 6.5% subordinated notes 1 — May 2036 2,036 2,040 $2,500m 6.5% subordinated notes 1 — Sep 2037 2,738 2,419 $1,500m 6.8% subordinated notes 1 — Jun 2038 1,490 1,489 $1,500m 5.25% subordinated notes 2,3 — Mar 2044 1,886 1,661 £650m 5.75% subordinated notes 2 — Dec 2027 1,059 960 £650m 6.75% subordinated notes 2 — Sep 2028 855 826 £750m 7.0% subordinated notes 2 — Apr 2038 1,064 992 £900m 6.0% subordinated notes 2 — Mar 2040 1,294 1,156 €1,750m 6.0% subordinated notes 2 — Jun 2019 — 2,125 €1,500m 3.375% subordinated notes 2,3 Jan 2019 Jan 2024 — 1,719 €1,500m 3.0% subordinated notes 2 — Jun 2025 1,736 1,725 €1,000m 3.125% subordinated notes 2 — Jun 2028 1,321 1,233 21,582 24,105 Amounts owed to HSBC undertakings $900m 10.176% subordinated step-up cumulative notes Jun 2030 Jun 2040 892 892 892 892 Other securities issued by HSBC Holdings Amounts owed to third parties $1,500m 5.625% contingent convertible securities 4 Nov 2019 Jan 2020 1,503 — 1,503 — At 31 Dec 23,977 24,997 1 Amounts owed to third parties represent securities included in the capital base of HSBC as tier 2 securities in accordance with the grandfathering provisions under CRR II. Prior period figures are included on a CRD IV basis. 2 These securities are included in the capital base of HSBC as fully CRR II-compliant tier 2 securities on an end point basis. 3 These subordinated notes are measured at amortised cost in HSBC Holdings, where the interest rate risk is hedged using a fair value hedge, while they are measured at fair value in the Group. 4 This security was called by HSBC Holdings on 22 November 2019 and was redeemed and cancelled on 17 January 2020. Between the date of exercise of the call option and the redemption, this security was considered to be a subordinated liability. Refer to Note 31 for further details on additional Tier 1 securities. |
Maturity analysis of assets, _2
Maturity analysis of assets, liabilities and off-balance sheet commitments (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Financial Instruments [Abstract] | |
Disclosure of maturity analysis of assets, liabilities and off-balance sheet commitments | HSBC Maturity analysis of assets, liabilities and off-balance sheet commitments Due not Due over Due over Due over Due over Due over Due over Due over Total $m $m $m $m $m $m $m $m $m Financial assets Cash and balances at central banks 154,099 — — — — — — — 154,099 Items in the course of collection from other banks 4,956 — — — — — — — 4,956 Hong Kong Government certificates of indebtedness 38,380 — — — — — — — 38,380 Trading assets 252,009 644 412 62 452 152 540 — 254,271 Financial assets designated or otherwise mandatorily measured at fair value 4,846 74 381 200 422 780 2,356 34,568 43,627 Derivatives 241,941 150 24 27 22 112 294 425 242,995 Loans and advances to banks 41,554 7,826 4,877 2,592 2,859 6,848 2,005 642 69,203 Loans and advances to customers 190,675 82,379 61,254 36,005 36,755 106,203 227,811 295,661 1,036,743 – personal 51,893 14,547 8,562 7,245 6,931 22,923 66,761 252,275 431,137 – corporate and commercial 118,585 61,629 45,924 25,006 25,069 71,751 147,139 39,958 535,061 – financial 20,197 6,203 6,768 3,754 4,755 11,529 13,911 3,428 70,545 Reverse repurchase agreements 164,741 38,997 17,933 8,226 6,305 2,298 2,362 — 240,862 Financial investments 36,128 64,472 35,795 17,485 18,202 48,427 90,193 132,610 443,312 Accrued income and other financial assets 80,661 5,544 2,532 915 495 432 363 2,037 92,979 Financial assets at 31 Dec 2019 1,209,990 200,086 123,208 65,512 65,512 165,252 325,924 465,943 2,621,427 Non-financial assets — — — — — — — 93,725 93,725 Total assets at 31 Dec 2019 1,209,990 200,086 123,208 65,512 65,512 165,252 325,924 559,668 2,715,152 Off-balance sheet commitments received Loan and other credit-related commitments 63,199 — — — — — — — 63,199 Financial liabilities Hong Kong currency notes in circulation 38,380 — — — — — — — 38,380 Deposits by banks 46,397 4,167 2,773 454 844 2,455 876 1,056 59,022 Customer accounts 1 1,287,358 81,038 38,343 11,530 11,342 5,275 4,075 154 1,439,115 – personal 646,843 49,405 29,320 8,484 6,852 3,631 2,646 71 747,252 – corporate and commercial 479,763 24,214 7,162 2,621 3,009 1,119 1,388 41 519,317 – financial 160,752 7,419 1,861 425 1,481 525 41 42 172,546 Repurchase agreements 132,042 3,402 1,579 1,882 59 354 2 1,024 140,344 Items in the course of transmission to other banks 4,817 — — — — — — — 4,817 Trading liabilities 82,130 209 265 148 102 287 29 — 83,170 Financial liabilities designated at 12,844 4,667 4,236 4,552 5,196 26,081 43,534 63,356 164,466 – debt securities in issue: covered bonds — — — — 1,139 — 2,663 1,159 4,961 – debt securities in issue: unsecured 8,884 2,046 2,946 3,757 3,030 22,950 34,753 47,036 125,402 – subordinated liabilities and preferred securities 23 — — — — — 2,131 8,396 10,550 – other 3,937 2,621 1,290 795 1,027 3,131 3,987 6,765 23,553 Derivatives 237,901 105 73 10 18 68 540 782 239,497 Debt securities in issue 8,183 17,374 12,799 13,152 11,382 14,572 20,048 7,045 104,555 – covered bonds — — — — — 749 998 — 1,747 – otherwise secured 2,015 2 248 161 — 219 958 1,663 5,266 – unsecured 6,168 17,372 12,551 12,991 11,382 13,604 18,092 5,382 97,542 Accruals and other financial liabilities 87,796 9,078 3,914 1,244 2,058 1,592 2,823 2,890 111,395 Subordinated liabilities 1,502 — 22 1,993 100 755 424 19,804 24,600 Total financial liabilities at 31 Dec 2019 1,939,350 120,040 64,004 34,965 31,101 51,439 72,351 96,111 2,409,361 Non-financial liabilities — — — — — — — 113,123 113,123 Total liabilities at 31 Dec 2019 1,939,350 120,040 64,004 34,965 31,101 51,439 72,351 209,234 2,522,484 Off-balance sheet commitments given Loan and other credit-related commitments 794,336 600 590 313 551 442 458 318 797,608 – personal 221,952 40 39 56 167 208 392 299 223,153 – corporate and commercial 460,569 117 96 52 381 218 66 19 461,518 – financial 111,815 443 455 205 3 16 — — 112,937 Maturity analysis of assets, liabilities and off-balance sheet commitments (continued) Due not more than 1 month Due over 1 month but not more than 3 months Due over 3 months but not more than 6 months Due over 6 months but not more than 9 months Due over 9 months but not more than 1 year Due over 1 year but not more than 2 years Due over 2 years but not more than 5 years Due over 5 years Total $m $m $m $m $m $m $m $m $m Financial assets Cash and balances at central banks 162,843 — — — — — — — 162,843 Items in the course of collection from other banks 5,787 — — — — — — — 5,787 Hong Kong Government certificates of indebtedness 35,859 — — — — — — — 35,859 Trading assets 235,443 264 707 744 104 197 671 — 238,130 Financial assets designated at fair value 7,743 49 371 145 334 918 2,415 29,136 41,111 Derivatives 206,925 15 57 79 18 69 328 334 207,825 Loans and advances to banks 40,114 10,421 3,486 2,004 3,282 7,158 4,508 1,194 72,167 Loans and advances to customers 178,613 72,072 58,680 38,394 37,333 101,267 219,841 275,496 981,696 – personal 41,967 8,736 8,237 7,581 7,240 24,942 63,061 229,626 391,390 – corporate and commercial 118,294 58,623 45,918 27,001 25,597 67,093 143,959 42,540 529,025 – financial 18,352 4,713 4,525 3,812 4,496 9,232 12,821 3,330 61,281 Reverse repurchase agreements – non-trading 172,795 41,084 13,308 5,763 3,574 5,253 1,027 — 242,804 Financial investments 40,421 58,731 30,464 15,707 15,357 41,866 92,846 112,041 407,433 Accrued income and other financial assets 62,067 6,893 2,403 561 307 349 731 2,237 75,548 Financial assets at 31 Dec 2018 1,148,610 189,529 109,476 63,397 60,309 157,077 322,367 420,438 2,471,203 Non-financial assets — — — — — — — 86,921 86,921 Total assets at 31 Dec 2018 1,148,610 189,529 109,476 63,397 60,309 157,077 322,367 507,359 2,558,124 Off-balance sheet commitments received Loan and other credit-related commitments 73,464 — — — 1 3 98 656 74,222 Financial liabilities Hong Kong currency notes in circulation 35,859 — — — — — — — 35,859 Deposits by banks 42,406 3,457 1,043 784 542 5,558 1,655 886 56,331 Customer accounts 1 1,225,919 66,990 31,315 17,218 13,760 4,122 3,194 125 1,362,643 – personal 612,325 38,132 21,218 11,483 8,282 2,853 2,623 53 696,969 – corporate and commercial 457,661 22,922 8,029 4,599 4,317 1,092 509 29 499,158 – financial 155,933 5,936 2,068 1,136 1,161 177 62 43 166,516 Repurchase agreements – non-trading 154,383 8,140 1,750 629 73 408 501 — 165,884 Items in the course of transmission to other banks 5,641 — — — — — — — 5,641 Trading liabilities 82,867 251 326 633 81 235 36 2 84,431 Financial liabilities designated at fair value 3,813 4,476 6,878 3,076 3,481 12,545 53,615 60,621 148,505 – debt securities in issue: covered bonds — — 205 — — 1,190 2,721 1,137 5,253 – debt securities in issue: unsecured 981 1,562 2,659 2,290 2,353 9,143 47,443 37,633 104,064 – subordinated liabilities and preferred securities — — 2,125 — — — — 12,568 14,693 – other 2,832 2,914 1,889 786 1,128 2,212 3,451 9,283 24,495 Derivatives 203,962 62 135 191 144 560 159 622 205,835 Debt securities in issue 6,777 11,194 12,556 8,075 3,330 10,670 19,713 13,027 85,342 – covered bonds — — — — — — 748 — 748 – otherwise secured 2,166 1,100 30 — — 394 944 1,412 6,046 – unsecured 4,611 10,094 12,526 8,075 3,330 10,276 18,021 11,615 78,548 Accruals and other financial liabilities 69,958 8,986 3,296 659 1,269 885 1,027 1,300 87,380 Subordinated liabilities 6 89 3 — — 1,996 1,384 18,959 22,437 Total financial liabilities at 31 Dec 2018 1,831,591 103,645 57,302 31,265 22,680 36,979 81,284 95,542 2,260,288 Non-financial liabilities — — — — — — — 103,587 103,587 Total liabilities at 31 Dec 2018 1,831,591 103,645 57,302 31,265 22,680 36,979 81,284 199,129 2,363,875 Off-balance sheet commitments given Loan and other credit-related commitments 769,311 5,281 941 1,972 1,257 361 731 412 780,266 – personal 203,622 974 59 32 201 280 556 331 206,055 – corporate and commercial 441,199 2,694 799 1,895 974 34 150 73 447,818 – financial 124,490 1,613 83 45 82 47 25 8 126,393 1 ‘Customer accounts’ includes $ 408,090m (2018: $364,729m ) insured by guarantee schemes. HSBC Holdings Maturity analysis of assets, liabilities and off-balance sheet commitments (continued) Due not more than 1 month Due over 1 month but not more than 3 months Due over 3 months but not more than 6 months Due over 6 months but not more than 9 months Due over 9 months but not more than 1 year Due over 1 year but not more than 2 years Due over 2 years but not more than 5 years Due over 5 years Total $m $m $m $m $m $m $m $m $m Financial assets Cash at bank and in hand: – balances with HSBC undertakings 2,382 — — — — — — — 2,382 Derivatives 596 — — — — — 230 1,176 2,002 Loans and advances to HSBC undertakings 102 672 120 25 — 600 1,909 6,790 10,218 Financial assets with HSBC undertakings designated and otherwise mandatorily measured at fair value — — — — — 458 24,845 36,661 61,964 Financial investments 2,754 3,493 1,873 2,251 2,721 3,014 — — 16,106 Accrued income and other financial assets 93 277 97 48 16 12 — — 543 Total financial assets at 5,927 4,442 2,090 2,324 2,737 4,084 26,984 44,627 93,215 Non-financial assets — — — — — — — 162,025 162,025 Total assets at 31 Dec 2019 5,927 4,442 2,090 2,324 2,737 4,084 26,984 206,652 255,240 Financial liabilities Amounts owed to HSBC undertakings — 464 — — — — — — 464 Financial liabilities designated at fair value — — — — — 5,651 6,710 17,942 30,303 – debt securities in issue — — — — — 5,651 6,710 12,326 24,687 – subordinated liabilities and preferred securities — — — — — — — 5,616 5,616 Derivatives 1,838 — — — — 20 85 78 2,021 Debt securities in issue — — — — — 10,134 23,786 22,924 56,844 Accruals and other financial liabilities 900 574 303 55 10 — — 35 1,877 Subordinated liabilities 1,503 — — — — — 2,076 14,782 18,361 31 Dec 2019 4,241 1,038 303 55 10 15,805 32,657 55,761 109,870 Non-financial liabilities — — — — — — — 326 326 Total liabilities at 31 Dec 2019 4,241 1,038 303 55 10 15,805 32,657 56,087 110,196 Off-balance sheet commitments given Undrawn formal standby facilities, credit lines and other commitments to lend — — — — — — — — — Maturity analysis of assets, liabilities and off-balance sheet commitments (continued) Due not more than 1 month Due over 1 month but not more than 3 months Due over 3 months but not more than 6 months Due over 6 months but not more than 9 months Due over 9 months but not more than 1 year Due over 1 year but not more than 2 years Due over 2 years but not more than 5 years Due over 5 years Total $m $m $m $m $m $m $m $m $m Financial assets Cash at bank and in hand: – balances with HSBC undertakings 3,509 — — — — — — — 3,509 Derivatives 540 — — — — — — 167 707 Loans and advances to HSBC undertakings 3,052 11,563 158 968 1 — 14,062 26,340 56,144 Loans and advances to HSBC undertakings designated at fair value — — — — — — 8,116 15,397 23,513 Financial investments in HSBC undertakings — — — — — — — — — Accrued income and other financial assets 33 27 — — — — — 60 Total financial assets at 31 Dec 2018 7,134 11,590 158 968 1 — 22,178 41,904 83,933 Non-financial assets — — — — — — — 161,248 161,248 Total assets at 31 Dec 2018 7,134 11,590 158 968 1 — 22,178 203,152 245,181 Financial liabilities Amounts owed to HSBC undertakings — 949 — — — — — — 949 Financial liabilities designated at fair value — — 2,125 — — — 12,306 10,618 25,049 – debt securities in issue — — — — — — 12,306 5,461 17,767 – subordinated liabilities and preferred securities — — 2,125 — — — — 5,157 7,282 Derivatives 1,321 — — — — — 339 499 2,159 Debt securities in issue — — — — — — 23,770 27,030 50,800 Accruals and other financial liabilities 319 353 188 36 5 — — 41 942 Subordinated liabilities — — — — — — — 17,715 17,715 Total financial liabilities at 31 Dec 2018 1,640 1,302 2,313 36 5 — 36,415 55,903 97,614 Non-financial liabilities — — — — — — — 214 214 Total liabilities at 31 Dec 2018 1,640 1,302 2,313 36 5 — 36,415 56,117 97,828 Off-balance sheet commitments given Undrawn formal standby facilities, credit lines and other commitments to lend — — — — — — — — — |
Disclosure of cash flows payable under financial liabilities by remaining contractual maturities | Cash flows payable by HSBC under financial liabilities by remaining contractual maturities Due not more than 1 month Due over 1 month but not more than 3 months Due over 3 months but not more than 1 year Due over 1 year but not more than 5 years Due over Total $m $m $m $m $m $m Deposits by banks 46,471 4,167 4,227 3,371 1,084 59,320 Customer accounts 1,288,577 81,037 62,105 9,900 191 1,441,810 Repurchase agreements – non-trading 132,156 3,403 3,565 368 1,036 140,528 Trading liabilities 83,170 — — — — 83,170 Financial liabilities designated at fair value 13,447 4,666 14,747 76,155 68,045 177,060 Derivatives 237,897 105 522 1,076 1,691 241,291 Debt securities in issue 8,757 17,374 38,423 36,584 8,177 109,315 Subordinated liabilities 1,847 — 2,908 5,197 27,892 37,844 Other financial liabilities 127,898 9,079 6,792 5,637 2,992 152,398 1,940,220 119,831 133,289 138,288 111,108 2,442,736 Loan and other credit-related commitments 795,243 601 561 886 317 797,608 Financial guarantees 1 20,007 37 102 68 — 20,214 At 31 Dec 2019 2,755,470 120,469 133,952 139,242 111,425 3,260,558 Proportion of cash flows payable in period 85% 4% 4% 4% 3% Deposits by banks 42,569 3,457 2,419 7,507 556 56,508 Customer accounts 1,226,828 66,990 62,963 7,617 130 1,364,528 Repurchase agreements – non-trading 154,541 8,140 2,487 950 — 166,118 Trading liabilities 84,431 — — — — 84,431 Financial liabilities designated at fair value 4,478 4,476 15,591 75,578 89,261 189,384 Derivatives 204,360 62 927 2,065 1,323 208,737 Debt securities in issue 7,295 11,194 24,902 36,599 13,656 93,646 Subordinated liabilities 349 89 793 7,600 27,670 36,501 Other financial liabilities 110,337 8,987 4,694 2,367 1,260 127,645 1,835,188 103,395 114,776 140,283 133,856 2,327,498 Loan and other credit-related commitments 772,557 5,279 1,109 944 377 780,266 Financial guarantees 1 22,942 113 289 160 14 23,518 At 31 Dec 2018 2,630,687 108,787 116,174 141,387 134,247 3,131,282 Proportion of cash flows payable in period 84% 3% 4% 5% 4% 1 Excludes performance guarantee contracts to which the impairment requirements in IFRS 9 are not applied. Cash flows payable by HSBC Holdings under financial liabilities by remaining contractual maturities Due not more than 1 month Due over 1 month but not more than 3 months Due over 3 months but not more than 1 year Due over 1 year but not more than 5 years Due over Total Footnotes $m $m $m $m $m $m Amounts owed to HSBC undertakings — 464 — — — 464 Financial liabilities designated at fair value 88 168 784 14,776 18,184 34,000 Derivatives 1,838 — — 105 78 2,021 Debt securities in issue 128 244 1,137 38,690 25,310 65,509 Subordinated liabilities 1,588 154 718 5,743 21,533 29,736 Other financial liabilities 956 519 365 — — 1,840 4,598 1,549 3,004 59,314 65,105 133,570 Loan commitments — — — — — — Financial guarantees 1 11,061 — — — — 11,061 At 31 Dec 2019 15,659 1,549 3,004 59,314 65,105 144,631 Amounts owed to HSBC undertakings — 949 — — — 949 Financial liabilities designated at fair value — 237 2,656 14,384 11,653 28,930 Derivatives 1,321 — — 339 499 2,159 Debt securities in issue — 379 1,159 29,178 30,801 61,517 Subordinated liabilities — 248 757 4,019 25,311 30,335 Other financial liabilities — 675 228 — — 903 1,321 2,488 4,800 47,920 68,264 124,793 Loan commitments — — — — — — Financial guarantees 1 8,627 — — — — 8,627 At 31 Dec 2018 9,948 2,488 4,800 47,920 68,264 133,420 1 Excludes performance guarantee contracts to which the impairment requirements in IFRS 9 are not applied. |
Disclosure of cash flows payable under derivative financial liabilities by remaining contractual maturities | Cash flows payable by HSBC under financial liabilities by remaining contractual maturities Due not more than 1 month Due over 1 month but not more than 3 months Due over 3 months but not more than 1 year Due over 1 year but not more than 5 years Due over Total $m $m $m $m $m $m Deposits by banks 46,471 4,167 4,227 3,371 1,084 59,320 Customer accounts 1,288,577 81,037 62,105 9,900 191 1,441,810 Repurchase agreements – non-trading 132,156 3,403 3,565 368 1,036 140,528 Trading liabilities 83,170 — — — — 83,170 Financial liabilities designated at fair value 13,447 4,666 14,747 76,155 68,045 177,060 Derivatives 237,897 105 522 1,076 1,691 241,291 Debt securities in issue 8,757 17,374 38,423 36,584 8,177 109,315 Subordinated liabilities 1,847 — 2,908 5,197 27,892 37,844 Other financial liabilities 127,898 9,079 6,792 5,637 2,992 152,398 1,940,220 119,831 133,289 138,288 111,108 2,442,736 Loan and other credit-related commitments 795,243 601 561 886 317 797,608 Financial guarantees 1 20,007 37 102 68 — 20,214 At 31 Dec 2019 2,755,470 120,469 133,952 139,242 111,425 3,260,558 Proportion of cash flows payable in period 85% 4% 4% 4% 3% Deposits by banks 42,569 3,457 2,419 7,507 556 56,508 Customer accounts 1,226,828 66,990 62,963 7,617 130 1,364,528 Repurchase agreements – non-trading 154,541 8,140 2,487 950 — 166,118 Trading liabilities 84,431 — — — — 84,431 Financial liabilities designated at fair value 4,478 4,476 15,591 75,578 89,261 189,384 Derivatives 204,360 62 927 2,065 1,323 208,737 Debt securities in issue 7,295 11,194 24,902 36,599 13,656 93,646 Subordinated liabilities 349 89 793 7,600 27,670 36,501 Other financial liabilities 110,337 8,987 4,694 2,367 1,260 127,645 1,835,188 103,395 114,776 140,283 133,856 2,327,498 Loan and other credit-related commitments 772,557 5,279 1,109 944 377 780,266 Financial guarantees 1 22,942 113 289 160 14 23,518 At 31 Dec 2018 2,630,687 108,787 116,174 141,387 134,247 3,131,282 Proportion of cash flows payable in period 84% 3% 4% 5% 4% 1 Excludes performance guarantee contracts to which the impairment requirements in IFRS 9 are not applied. Cash flows payable by HSBC Holdings under financial liabilities by remaining contractual maturities Due not more than 1 month Due over 1 month but not more than 3 months Due over 3 months but not more than 1 year Due over 1 year but not more than 5 years Due over Total Footnotes $m $m $m $m $m $m Amounts owed to HSBC undertakings — 464 — — — 464 Financial liabilities designated at fair value 88 168 784 14,776 18,184 34,000 Derivatives 1,838 — — 105 78 2,021 Debt securities in issue 128 244 1,137 38,690 25,310 65,509 Subordinated liabilities 1,588 154 718 5,743 21,533 29,736 Other financial liabilities 956 519 365 — — 1,840 4,598 1,549 3,004 59,314 65,105 133,570 Loan commitments — — — — — — Financial guarantees 1 11,061 — — — — 11,061 At 31 Dec 2019 15,659 1,549 3,004 59,314 65,105 144,631 Amounts owed to HSBC undertakings — 949 — — — 949 Financial liabilities designated at fair value — 237 2,656 14,384 11,653 28,930 Derivatives 1,321 — — 339 499 2,159 Debt securities in issue — 379 1,159 29,178 30,801 61,517 Subordinated liabilities — 248 757 4,019 25,311 30,335 Other financial liabilities — 675 228 — — 903 1,321 2,488 4,800 47,920 68,264 124,793 Loan commitments — — — — — — Financial guarantees 1 8,627 — — — — 8,627 At 31 Dec 2018 9,948 2,488 4,800 47,920 68,264 133,420 1 Excludes performance guarantee contracts to which the impairment requirements in IFRS 9 are not applied. |
Offsetting of financial asset_2
Offsetting of financial assets and financial liabilities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Financial Instruments [Abstract] | |
Disclosure of offsetting of financial assets and financial liabilities | Offsetting of financial assets and financial liabilities Amounts subject to enforceable netting arrangements Amounts not subject to enforceable netting arrangements 5 Total Amounts not set off in the balance sheet Gross amounts Amounts offset Net amounts in the balance sheet Financial instruments Non-cash collateral Cash collateral Net amount Footnotes $m $m $m $m $m $m $m $m $m Financial assets Derivatives (Note 15) 1 277,261 (41,739 ) 235,522 (171,371 ) (13,095 ) (47,404 ) 3,652 7,473 242,995 Reverse repos, stock borrowing and similar agreements classified as: 2 – trading assets 21,465 (280 ) 21,185 (1,553 ) (19,630 ) — 2 165 21,350 – non-trading assets 348,561 (134,772 ) 213,789 (28,826 ) (184,495 ) (189 ) 279 27,549 241,338 Loans and advances to customers 3 33,039 (10,128 ) 22,911 (18,893 ) — — 4,018 735 23,646 At 31 Dec 2019 680,326 (186,919 ) 493,407 (220,643 ) (217,220 ) (47,593 ) 7,951 35,922 529,329 Derivatives (Note 15) 1 250,275 (49,711 ) 200,564 (145,785 ) (9,986 ) (38,031 ) 6,762 7,261 207,825 Reverse repos, stock borrowing and similar agreements classified as: 2 – trading assets 18,217 (790 ) 17,427 (1,244 ) (16,179 ) — 4 853 18,280 – non-trading assets 372,358 (167,313 ) 205,045 (21,788 ) (182,995 ) (100 ) 162 37,759 242,804 Loans and advances to customers 3 40,534 (12,468 ) 28,066 (21,245 ) — — 6,821 536 28,602 At 31 Dec 2018 681,384 (230,282 ) 451,102 (190,062 ) (209,160 ) (38,131 ) 13,749 46,409 497,511 Financial liabilities Derivatives (Note 15) 1 275,286 (41,739 ) 233,547 (171,371 ) (20,137 ) (37,844 ) 4,195 5,950 239,497 Repos, stock lending and similar agreements classified as: 2 – trading liabilities 10,494 (280 ) 10,214 (1,553 ) (8,656 ) — 5 46 10,260 – non-trading liabilities 232,675 (134,772 ) 97,903 (28,826 ) (68,638 ) (357 ) 82 42,441 140,344 Customer accounts 4 36,750 (10,128 ) 26,622 (18,893 ) — — 7,729 31 26,653 At 31 Dec 2019 555,205 (186,919 ) 368,286 (220,643 ) (97,431 ) (38,201 ) 12,011 48,468 416,754 Derivatives (Note 15) 1 248,123 (49,711 ) 198,412 (145,785 ) (14,895 ) (29,998 ) 7,734 7,423 205,835 Repos, stock lending and similar agreements classified as: 2 – trading liabilities 13,169 (790 ) 12,379 (1,244 ) (11,133 ) — 2 114 12,493 – non-trading liabilities 274,367 (167,313 ) 107,054 (21,788 ) (85,087 ) (164 ) 15 58,830 165,884 Customer accounts 4 40,286 (12,468 ) 27,818 (21,245 ) — — 6,573 11 27,829 At 31 Dec 2018 575,945 (230,282 ) 345,663 (190,062 ) (111,115 ) (30,162 ) 14,324 66,378 412,041 1 At 31 December 2019, the amount of cash margin received that had been offset against the gross derivatives assets was $2,350m (2018: $3,935m ). The amount of cash margin paid that had been offset against the gross derivatives liabilities was $8,303m (2018: $5,888m ). 2 For the amount of repos, reverse repos, stock lending, stock borrowing and similar agreements recognised on the balance sheet within ‘Trading assets’ $ 21,350m (2018: $ 18,280m ) and ‘Trading liabilities’ $ 10,260m (2018: $ 12,493m ), see the ‘Funding sources and uses’ table on page 169 . 3 At 31 December 2019, the total amount of ‘Loans and advances to customers’ was $ 1,036,743m (2018: $ 981,696m ), of which $ 22,911m (2018: $ 28,066m ) was subject to offsetting. 4 At 31 December 2019, the total amount of ‘Customer accounts’ was $ 1,439,115m (2018: $ 1,362,643m ), of which $ 26,622m (2018: $ 27,818m ) was subject to offsetting. 5 These exposures continue to be secured by financial collateral, but we may not have sought or been able to obtain a legal opinion evidencing enforceability of the right of offset. |
Called up share capital and o_2
Called up share capital and other equity instruments (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Share Capital, Reserves And Other Equity Interest [Abstract] | |
Disclosure of issued capital and share premium | HSBC Holdings ordinary shares of $0.50 each, issued and fully paid 2019 2018 Footnotes Number $m Number $m At 1 Jan 20,360,841,496 10,180 20,320,716,258 10,160 Shares issued under HSBC employee share plans 71,588,032 36 83,740,460 42 Shares issued in lieu of dividends 341,872,011 171 166,850,869 83 Less: Shares repurchased and cancelled (135,776,994 ) (68 ) (210,466,091 ) (105 ) At 31 Dec 1 20,638,524,545 10,319 20,360,841,496 10,180 HSBC Holdings 6.20% non-cumulative US dollar preference shares, Series A 2019 2018 Footnotes Number $m Number $m At 1 Jan and 31 Dec 2 1,450,000 — 1,450,000 — HSBC Holdings share premium 2019 2018 $m $m At 31 Dec 13,959 13,609 Total called up share capital and share premium 2019 2018 $m $m At 31 Dec 24,278 23,789 1 All HSBC Holdings ordinary shares in issue, excluding 325,273,407 shares held in treasury, confer identical rights, including in respect of capital, dividends and voting. 2 Included in the capital base of HSBC as additional tier 1 capital in accordance with the CRR II rules, by virtue of the application of grandfathering provisions. |
Disclosure of other equity instruments | HSBC’s additional tier 1 capital – contingent convertible securities in issue which are accounted for in equity First call 2019 2018 Footnotes $m $m $1,500m 5.625% perpetual subordinated contingent convertible securities 1 Nov 2019 — 1,494 $2,000m 6.875% perpetual subordinated contingent convertible securities Jun 2021 1,995 1,998 $2,250m 6.375% perpetual subordinated contingent convertible securities Sep 2024 2,240 2,244 $2,450m 6.375% perpetual subordinated contingent convertible securities Mar 2025 2,453 2,460 $3,000m 6.000% perpetual subordinated contingent convertible securities May 2027 2,993 2,997 $2,350m 6.250% perpetual subordinated contingent convertible securities Mar 2023 2,346 2,347 $1,800m 6.500% perpetual subordinated contingent convertible securities Mar 2028 1,797 1,798 €1,500m 5.250% perpetual subordinated contingent convertible securities Sep 2022 1,940 1,943 €1,000m 6.000% perpetual subordinated contingent convertible securities Sep 2023 1,119 1,120 €1,250m 4.750% perpetual subordinated contingent convertible securities Jul 2029 1,418 1,420 £1,000m 5.875% perpetual subordinated contingent convertible securities Sep 2026 1,299 1,299 SGD1,000m 4.700% perpetual subordinated contingent convertible securities Jun 2022 722 723 SGD750m 5.000% perpetual subordinated contingent convertible securities Sep 2023 549 549 At 31 Dec 20,871 22,392 1 This security was called by HSBC Holdings on 22 November 2019 and was redeemed and cancelled on 17 January 2020. Between the date of exercise of the call option and the redemption, this security was considered to be a subordinated liability. Please refer to Note 28 . |
Disclosure of range of exercise prices of outstanding share options | Aggregate options outstanding under these plans 31 Dec 2019 31 Dec 2018 Number of Period of exercise Exercise price Number of HSBC Holdings ordinary shares Period of exercise Exercise price 65,060,681 2019 to 2025 £4.0472–£5.9640 57,065,513 2018 to 2024 £4.0472–£5.9640 |
Contingent liabilities, contr_2
Contingent liabilities, contractual commitments and guarantees (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Other Provisions, Contingent Liabilities And Contingent Assets [Abstract] | |
Disclosure of Contingent Liabilities, Contractual Commitments and Guarantees | HSBC HSBC Holdings 1 2019 2018 2019 2018 Footnotes $m $m $m $m Guarantees and other contingent liabilities: – financial guarantees 20,214 23,518 11,061 8,627 – performance and other guarantees 75,933 71,484 — — – other contingent liabilities 1,576 1,408 289 215 At 31 Dec 97,723 96,410 11,350 8,842 Commitments: 2 – documentary credits and short-term trade-related transactions 6,316 7,083 — — – forward asset purchases and forward deposits placed 56,326 67,265 — — – standby facilities, credit lines and other commitments to lend 734,966 705,918 — — At 31 Dec 797,608 780,266 — — 1 Guarantees by HSBC Holdings are all in favour of other Group entities. 2 Includes $600,029m of commitments at 31 December 2019 (31 December 2018: $ 592,008m ), to which the impairment requirements in IFRS 9 are applied where HSBC has become party to an irrevocable commitment |
Finance lease receivables (Tabl
Finance lease receivables (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Leases1 [Abstract] | |
Disclosure of Lease Receivables | 2019 2018 Total future Unearned Present Total future 1 Unearned 1 Present 1 $m $m $m $m $m $m Lease receivables: No later than one year 1,674 (157 ) 1,517 2,229 (196 ) 2,033 One to two years 1,634 (155 ) 1,479 N/A N/A N/A Two to three years 1,889 (151 ) 1,738 N/A N/A N/A Three to four years 1,704 (136 ) 1,568 N/A N/A N/A Four to five years 1,558 (132 ) 1,426 N/A N/A N/A Later than one year and no later than five years 6,785 (574 ) 6,211 7,420 (628 ) 6,792 Later than five years 6,136 (614 ) 5,522 5,032 (619 ) 4,413 At 31 Dec 14,595 (1,345 ) 13,250 14,681 (1,443 ) 13,238 1 The disclosure requirements of IFRS 16 were adopted from 1 January 2019. Comparatives have not been restated. |
Related party transactions (Tab
Related party transactions (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Related Party [Abstract] | |
Disclosure of compensation of key management personnel | The following table shows the total fees and benefits of non-executive Directors for 2019, together with comparative figures for 2018. Fees and benefits (Audited) Fees 1 Benefits 2 Total (£000) Footnotes 2019 2018 2019 2018 2019 2018 Kathleen Casey 3 223 171 9 23 232 194 Henri de Castries 194 161 4 4 198 165 Laura Cha 4 298 255 — 13 298 268 Lord Evans of Weardale (retired on 12 April 2019) 55 200 24 2 79 202 Irene Lee 5 454 361 3 5 457 366 José Antonio Meade Kuribreña 6 157 — 2 — 159 — Heidi Miller 7 625 573 2 9 627 582 David Nish 230 187 16 11 246 198 Sir Jonathan Symonds 638 653 21 1 659 654 Jackson Tai 8 398 228 57 47 455 275 Mark Tucker 9 1,500 1,500 231 97 1,731 1,597 Pauline van der Meer Mohr 265 239 8 17 273 256 Total 5,037 4,528 377 229 5,414 4,757 Total ($000) 6,425 6,039 481 305 6,906 6,344 1 The Director’s remuneration policy was approved at the 2019 AGM and the new fees became effective from 13 April 2019. Fees include a travel allowance of £4,000 for non-UK based non-executive Directors and for all non-executive Directors effective from 1 June 2019. 2 Benefits include taxable expenses such as accommodation, travel and subsistence relating to attendance at Board and other meetings at HSBC Holdings' registered office. Amounts disclosed have been grossed up using a tax rate of 45% , where relevant. 3 Reappointed as a member of the Financial System Vulnerabilities Committee on 12 April 2019. 4 Includes fees of £104,000 in 2019 (2018: £80,000 ) as a Director, Deputy Chairman and member of the Nomination Committee of The Hongkong and Shanghai Banking Corporation Limited. 5 Includes fees of £260,000 in 2019 (2018: £210,000 ) as a Director, Chair of the Remuneration Committee, and member of the Audit Committee and the Risk Committee of The Hongkong and Shanghai Banking Corporation Limited and as a Director, Chair of the Risk Committee and member of the Audit Committee of Hang Seng Bank Limited. 6 Appointed as a member of the Board and the Nomination & Corporate Governance Committee on 1 March 2019, and as a member of the Group Risk Committee on 1 June 2019. 7 Includes fees of £431,000 in 2019 (2018: £412,000 ) as Chair of HSBC North American Holdings Inc. 8 Appointed as a Chair of the Financial System Vulnerabilities Committee on 12 April 2019. 9 The Group Chairman’s benefits in 2019 included £13,020 in respect of life assurance and £19,126 in respect of healthcare insurance, as approved by the Group Remuneration Committee. The shareholdings of persons who were non-executive Directors in 2019, including the shareholdings of their connected persons, at five years of the date of their appointment. All non-executive Directors who had been appointed for five years or more at 31 December 2019 met the guidelines. Shares Shareholding guidelines (number of shares) Share interests (number of shares) Kathleen Casey 15,000 15,125 Laura Cha 15,000 16,200 Henri de Castries 15,000 19,251 Lord Evans of Weardale (retired on 12 April 2019) 15,000 12,892 Irene Lee 15,000 11,904 José Antonio Meade Kuribreña (appointed on 1 March 2019) 15,000 — Heidi Miller 15,000 15,700 David Nish 15,000 50,000 Sir Jonathan Symonds 15,000 43,821 Jackson Tai 15,000 66,515 Mark Tucker 15,000 307,352 Pauline van der Meer Mohr 15,000 15,000 Compensation of Key Management Personnel 2019 2018 2017 $m $m $m Short-term employee benefits 64 52 43 Other long-term employee benefits 8 6 5 Share-based payments 27 34 35 Year ended 31 Dec 99 92 83 |
Disclosure of shareholdings, options and other securities of key management personnel | Shareholdings, options and other securities of Key Management Personnel 2019 2018 (000s) (000s) Number of options held over HSBC Holdings ordinary shares under employee share plans 18 24 Number of HSBC Holdings ordinary shares held beneficially and non-beneficially 15,546 17,940 At 31 Dec 15,564 17,964 |
Disclosure of transactions and balances during the year with associates and joint ventures | Transactions and balances during the year with Key Management Personnel 2019 2018 Balance at 31 Dec Highest amounts outstanding Balance Highest amounts outstanding Footnotes $m $m $m $m Key Management Personnel 1 Advances and credits 2 283 328 169 288 Guarantees 34 34 0.6 0.6 Deposits 3 268 659 300 802 1 Includes Key Management Personnel, close family members of Key Management Personnel and entities that are controlled or jointly controlled by Key Management Personnel or their close family members. 2 Advances and credits entered into by subsidiaries of HSBC Holdings plc during 2019 with Directors, disclosed pursuant to section 413 of the Companies Act 2006, totalled $3m ( 2018 : $1m ). 3 Comparatives have been re-presented to correct foreign currency translation errors impacting 2018 reported balances. Transactions and balances during the year with associates and joint ventures 2019 2018 Highest balance Balance at Highest balance Balance at $m $m $m $m Unsubordinated amounts due from joint ventures 132 123 130 115 Unsubordinated amounts due from associates 4,554 2,054 3,887 3,000 Amounts due to associates 2,517 516 2,020 273 Amounts due to joint ventures 28 28 22 22 Guarantees and commitments 647 407 790 523 Transactions and balances during the year with subsidiaries 2019 2018 Highest balance Balance at Highest balance Balance at $m $m $m $m Assets Cash and balances with HSBC undertakings 5,029 2,382 16,473 3,509 Financial assets with HSBC undertakings designated and otherwise mandatorily measured at fair value 61,964 61,964 23,513 23,513 Derivatives 3,902 2,002 1,235 707 Loans and advances to HSBC undertakings 43,436 10,218 77,311 56,144 Prepayments, accrued income and other assets 655 480 — — Investments in subsidiaries 163,258 161,473 160,231 160,231 Total related party assets at 31 Dec 278,244 238,519 278,763 244,104 Liabilities Amounts owed to HSBC undertakings 1,553 464 2,040 949 Derivatives 2,183 2,021 3,639 2,159 Subordinated liabilities 892 892 892 892 Total related party liabilities at 31 Dec 4,628 3,377 6,571 4,000 Guarantees and commitments 11,541 11,061 11,629 8,627 |
HSBC Holdings' subsidiaries, _2
HSBC Holdings' subsidiaries, joint ventures and associates (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Interests In Other Entities [Abstract] | |
Disclosure of interests in subsidiaries | Main subsidiaries of HSBC Holdings At 31 Dec 2019 Place of incorporation or registration HSBC’s interest % Share class Europe HSBC Bank plc England and Wales 100 £1 Ordinary, $0.01 Non-cumulative third Dollar Preference HSBC UK Bank plc England and Wales 100 £1 Ordinary HSBC France France 99.99 €5 Actions HSBC Trinkaus & Burkhardt AG Germany 80.67 Stückaktien no par value Asia Hang Seng Bank Limited Hong Kong 62.14 HK$5 Ordinary HSBC Bank (China) Company Limited People’s Republic of China 100 CNY1 Ordinary HSBC Bank Malaysia Berhad Malaysia 100 RM0.50 Ordinary HSBC Life (International) Limited Bermuda 100 HK$1 Ordinary The Hongkong and Shanghai Banking Corporation Limited Hong Kong 100 Ordinary no par value Middle East and North Africa HSBC Bank Middle East Limited United Arab Emirates 100 $1 Ordinary and $1 Cumulative Redeemable Preference shares (CRP) North America HSBC Bank Canada Canada 100 Common no par value and Preference no par value HSBC Bank USA, N.A. US 100 $100 Common and $0.01 Preference Latin America HSBC Mexico, S.A., Institución de Banca Múltiple, Mexico 99.99 MXN2 Ordinary Subsidiaries with significant non-controlling interests 2019 2018 Hang Seng Bank Limited Proportion of ownership interests and voting rights held by non-controlling interests 37.86 % 37.86% Place of business Hong Kong Hong Kong $m $m Profit attributable to non-controlling interests 1,229 1,194 Accumulated non-controlling interests of the subsidiary 7,262 6,637 Dividends paid to non-controlling interests 720 647 Summarised financial information: – total assets 212,485 197,867 – total liabilities 191,819 179,450 – net operating income before changes in expected credit losses and other credit impairment charges 5,558 5,294 – profit for the year 3,251 3,159 – total comprehensive income for the year 3,461 2,950 Subsidiaries % of share class held by immediate parent company (or by the Group where this varies) Footnotes Almacenadora Banpacifico S.A. (In Liquidation) 99.99 15 Assetfinance December (F) Limited 100.00 16 Assetfinance December (H) Limited 100.00 17 Assetfinance December (M) Limited (In Liquidation) 100.00 32 Assetfinance December (P) Limited 100.00 17 Assetfinance December (R) Limited 100.00 17 Assetfinance June (A) Limited 100.00 17 Assetfinance June (D) Limited 100.00 16 Assetfinance Limited 100.00 17 Assetfinance March (B) Limited 100.00 18 Assetfinance March (D) Limited 100.00 16 Assetfinance March (F) Limited 100.00 17 Assetfinance September (F) Limited 100.00 17 Assetfinance September (G) Limited 100.00 16 B&Q Financial Services Limited 100.00 19 Banco Nominees (Guernsey) Limited 100.00 20 Banco Nominees 2 (Guernsey) Limited 100.00 20 Banco Nominees Limited 100.00 21 Beau Soleil Limited Partnership n/a 0, 22 Beijing Miyun HSBC Rural Bank Company Limited 100.00 12, 23 Billingsgate Nominees Limited 100.00 17 Canada Crescent Nominees (UK) Limited 100.00 17 Canada Square Nominees (UK) Limited 100.00 17 Capco/Cove, Inc. 100.00 24 Card-Flo #1, Inc. 100.00 25 Card-Flo #3, Inc. 100.00 26 CC&H Holdings LLC n/a 0, 27 CCF & Partners Asset Management Limited 100.00 (99.99 ) 17 CCF Holding (LIBAN) S.A.L. (In Liquidation) 74.99 28 Charterhouse Administrators ( D.T.) Limited 100.00 (99.99 ) 17 Charterhouse Management Services Limited 100.00 (99.99 ) 17 Charterhouse Pensions Limited 100.00 17 Chongqing Dazu HSBC Rural Bank Company Limited 100.00 12, 29 Chongqing Fengdu HSBC Rural Bank Company Limited 100.00 12, 30 Chongqing Rongchang HSBC Rural Bank Company Limited 100.00 12, 31 CL Residential Limited (In Liquidation) 100.00 32 COIF Nominees Limited n/a 0, 17 Cordico Management AG (In Liquidation) 100.00 33 Dalian Pulandian HSBC Rural Bank Company Limited 100.00 12, 34 Decision One Mortgage Company, LLC n/a 0, 35 Dem 9 100.00 (99.99 ) 4, 36 Dempar 1 100.00 (99.99 ) 37 Desarrollo Turistico, S.A. de C.V. (In Liquidation) 100.00 (99.79 ) 15 Electronic Data Process México, S.A. de C.V. 100.00 15 Elysées Immo Invest 100.00 (99.99 ) 38 Equator Holdings Limited (In Liquidation) 100.00 32 Eton Corporate Services Limited 100.00 20 Far East Leasing SA (In Dissolution) 100.00 39 Finanpar 7 100.00 (99.99 ) 38 Flandres Contentieux S.A. 100.00 (99.99 ) 40 Foncière Elysées 100.00 (99.99 ) 37 Fujian Yongan HSBC Rural Bank Company Limited 100.00 12, 41 Fulcher Enterprises Company Limited 100.00 (62.14 ) 42 Fundacion HSBC, A.C. 100.00 (99.99 ) 11, 15 Giller Ltd. 100.00 24 GPIF Co-Investment, LLC n/a 0, 26 Subsidiaries % of share class held by immediate parent company (or by the Group where this varies) Footnotes Griffin International Limited 100.00 17 Grundstuecksgesellschaft Trinkausstrasse Kommanditgesellschaft n/a 0, 43 Grupo Financiero HSBC, S. A. de C. V. 99.99 15 Guangdong Enping HSBC Rural Bank Company Limited 100.00 12, 44 Hang Seng (Nominee) Limited 100.00 (62.14 ) 42 Hang Seng Bank (China) Limited 100.00 (62.14 ) 45 Hang Seng Bank (Trustee) Limited 100.00 (62.14 ) 42 Hang Seng Bank Limited 62.14 42 Hang Seng Bullion Company Limited 100.00 (62.14 ) 42 Hang Seng Credit Limited 100.00 (62.14 ) 42 Hang Seng Data Services Limited 100.00 (62.14 ) 42 Hang Seng Finance Limited 100.00 (62.14 ) 42 Hang Seng Financial Information Limited 100.00 (62.14 ) 42 Hang Seng Indexes Company Limited 100.00 (62.14 ) 42 Hang Seng Insurance Company Limited 100.00 (62.14 ) 42 Hang Seng Investment Management Limited 100.00 (62.14 ) 42 Hang Seng Investment Services Limited 100.00 (62.14 ) 42 Hang Seng Life Limited 100.00 (62.14 ) 42 Hang Seng Real Estate Management Limited 100.00 (62.14 ) 42 Hang Seng Securities Limited 100.00 (62.14 ) 42 Hang Seng Security Management Limited 100.00 (62.14 ) 42 Haseba Investment Company Limited 100.00 (62.14 ) 42 HFC Bank Limited (In Liquidation) 100.00 32 High Time Investments Limited 100.00 (62.14 ) 42 Honey Green Enterprises Ltd. 100.00 46 Household International Europe Limited (In Liquidation) 100.00 32 Household Pooling Corporation 100.00 47 HRMG Nominees Limited 100.00 20 HSBC (BGF) Investments Limited 100.00 17 HSBC (General Partner) Limited 100.00 2, 48 HSBC (Guernsey) GP PCC Limited 100.00 20 HSBC (Kuala Lumpur) Nominees Sdn Bhd 100.00 49 HSBC (Malaysia) Trustee Berhad 100.00 50 HSBC (Singapore) Nominees Pte Ltd 100.00 51 HSBC Agency (India) Private Limited 100.00 52 HSBC Alternative Investments Limited 100.00 17 HSBC Amanah Malaysia Berhad 100.00 49 HSBC Americas Corporation (Delaware) 100.00 26 HSBC Argentina Holdings S.A. 100.00 53 HSBC Asia Holdings B.V. 100.00 17 HSBC Asia Holdings Limited 100.00 2, 54 HSBC Asia Pacific Holdings (UK) Limited 100.00 17 HSBC Asset Finance (UK) Limited 100.00 17 HSBC Asset Finance Holdings Limited (In Liquidation) 100.00 32 HSBC Asset Finance M.O.G. Holdings (UK) Limited 100.00 17 HSBC Asset Management (India) Private Limited 100.00 55 HSBC Assurances Vie (France) 100.00 (99.99 ) 40 HSBC Australia Holdings Pty Limited 100.00 56 HSBC Bank (Chile) 100.00 57 HSBC Bank (China) Company Limited 100.00 12, 58 HSBC Bank (General Partner) Limited 100.00 48 HSBC Bank (Mauritius) Limited 100.00 59 HSBC Bank (RR) (Limited Liability Company) n/a 0, 13, 60 HSBC Bank (Singapore) Limited 100.00 51 HSBC Bank (Taiwan) Limited 100.00 61 HSBC Bank (Uruguay) S.A. 100.00 62 HSBC Bank (Vietnam) Ltd. 100.00 63 HSBC Bank A.S. 100.00 (99.99 ) 64 Subsidiaries % of share class held by immediate parent company (or by the Group where this varies) Footnotes HSBC Bank Argentina S.A. 99.00 53 HSBC Bank Armenia cjsc 70.00 65 HSBC Bank Australia Limited 100.00 56 HSBC Bank Bermuda Limited 100.00 21 HSBC Bank Canada 100.00 66 HSBC Bank Capital Funding (Sterling 1) LP n/a 0, 48 HSBC Bank Capital Funding (Sterling 2) LP n/a 0, 48 HSBC Bank Egypt S.A.E 94.54 67 HSBC Bank Malaysia Berhad 100.00 49 HSBC Bank Malta p.l.c. 70.03 68 HSBC Bank Middle East Limited 100.00 5, 69 HSBC Bank Middle East Limited Representative Office Morocco SARL (In Liquidation) 100.00 70 HSBC Bank Oman S.A.O.G. 51.00 71 HSBC Bank Pension Trust (UK) Limited 100.00 17 HSBC Bank plc 100.00 17 HSBC Bank USA, National Association 100.00 72 HSBC Branch Nominee (UK) Limited 100.00 16 HSBC Brasil Holding S.A. 100.00 (99.99 ) 73 HSBC Brasil S.A. Banco de Investimento 100.00 (99.99 ) 73 HSBC Broking Forex (Asia) Limited 100.00 54 HSBC Broking Futures (Asia) Limited 100.00 54 HSBC Broking Futures (Hong Kong) Limited 100.00 54 HSBC Broking Securities (Asia) Limited 100.00 54 HSBC Broking Securities (Hong Kong) Limited 100.00 54 HSBC Broking Services (Asia) Limited 100.00 54 HSBC Canadian Covered Bond (Legislative) GP Inc. 100.00 74 HSBC Canadian Covered Bond (Legislative) Guarantor Limited Partnership n/a 0, 74 HSBC Capital (USA), Inc. 100.00 26 HSBC Capital Funding (Dollar 1) L.P. n/a 0, 48 HSBC Capital Limited 100.00 54 HSBC Card Services Inc. 100.00 26 HSBC Casa de Bolsa, S.A. de C.V., Grupo Financiero HSBC 100.00 (99.99 ) 15 HSBC Cayman Limited 100.00 75 HSBC Cayman Services Limited 100.00 76 HSBC City Funding Holdings 100.00 17 HSBC Client Holdings Nominee (UK) Limited 100.00 17 HSBC Client Nominee (Jersey) Limited 100.00 77 HSBC Client Share Offer Nominee (UK) Limited (In Liquidation) 100.00 32 HSBC Columbia Funding, LLC n/a 0, 26 HSBC Corporate Advisory (Malaysia) Sdn Bhd 100.00 49 HSBC Corporate Finance (Hong Kong) Limited 100.00 54 HSBC Corporate Trustee Company (UK) Limited 100.00 17 HSBC Custody Nominees (Australia) Limited 100.00 56 HSBC Custody Services (Guernsey) Limited 100.00 (99.99 ) 20 HSBC Daisy Investments (Mauritius) Limited 100.00 78 HSBC Diversified Loan Fund General Partner Sarl n/a 0, 79 HSBC Electronic Data Processing (Guangdong) Limited 100.00 12, 80 HSBC Electronic Data Processing (Malaysia) Sdn Bhd 100.00 81 HSBC Electronic Data Processing (Philippines), Inc. 99.00 82 HSBC Electronic Data Processing India Private Limited 100.00 (99.99 ) 83 HSBC Electronic Data Processing Lanka (Private) Limited 100.00 (99.99 ) 84 HSBC Electronic Data Service Delivery (Egypt) S.A.E. 100.00 (99.99 ) 85 HSBC Enterprise Investment Company (UK) Limited (In Liquidation) 100.00 32 HSBC Epargne Entreprise (France) 100.00 (99.99 ) 40 Subsidiaries % of share class held by immediate parent company (or by the Group where this varies) Footnotes HSBC Equator (UK) Limited (In Liquidation) 100.00 32 HSBC Equipment Finance (UK) Limited 100.00 16 HSBC Equity (UK) Limited 100.00 17 HSBC Europe B.V. 100.00 (99.99 ) 17 HSBC Executor & Trustee Company (UK) Limited 100.00 16 HSBC Factoring (France) 100.00 (99.99 ) 37 HSBC Finance (Netherlands) 100.00 2, 17 HSBC Finance Corporation 100.00 26 HSBC Finance Limited 100.00 17 HSBC Finance Mortgages Inc. 100.00 86 HSBC Finance Transformation (UK) Limited 100.00 17 HSBC Financial Services (Lebanon) s.a.l. 99.60 87 HSBC Financial Services (Middle East) Limited 100.00 88 HSBC Financial Services (Uruguay) S.A. (In Liquidation) 100.00 89 HSBC France 99.00 37 HSBC Fund Services (Korea) Limited 92.96 90 HSBC Germany Holdings GmbH 100.00 43 HSBC Global Asset Management (Bermuda) Limited 100.00 21 HSBC Global Asset Management (Canada) Limited 100.00 66 HSBC Global Asset Management (Deutschland) GmbH 100.00 (80.67 ) 43 HSBC Global Asset Management (France) 100.00 (99.99 ) 91 HSBC Global Asset Management (Hong Kong) Limited 100.00 22 HSBC Global Asset Management (International) Limited (In Liquidation) 100.00 92 HSBC Global Asset Management (Japan) K. K. 100.00 93 HSBC Global Asset Management (Malta) Limited 100.00 (70.00 ) 94 HSBC Global Asset Management (México), S.A. de C.V., Sociedad Operadora de Fondos de Inversión, Grupo Financiero HSBC 100.00 (99.99 ) 15 HSBC Global Asset Management (Oesterreich) GmbH 100.00 (80.67 ) 6, 95 HSBC Global Asset Management (Singapore) Limited 100.00 51 HSBC Global Asset Management (Switzerland) AG 100.00 (90.33 ) 4, 96 HSBC Global Asset Management (Taiwan) Limited 100.00 97 HSBC Global Asset Management (UK) Limited 100.00 17 HSBC Global Asset Management (USA) Inc. 100.00 98 HSBC Global Asset Management Argentina S.A. Sociedad Gerente de Fondos Comunes de Inversión 100.00 (99.99 ) 99 HSBC Global Asset Management Holdings (Bahamas) Limited 100.00 100 HSBC Global Asset Management Limited 100.00 2, 17 HSBC Global Custody Nominee (UK) Limited 100.00 17 HSBC Global Custody Proprietary Nominee (UK) Limited 100.00 1, 17 HSBC Global Services (Canada) Limited 100.00 101 HSBC Global Services (China) Holdings Limited 100.00 17 HSBC Global Services (Hong Kong) Limited 100.00 54 HSBC Global Services (UK) Limited 100.00 17 HSBC Global Services Limited 100.00 2, 17 HSBC Global Shared Services (India) Private Limited (In Liquidation) 100.00 1, 52 HSBC Group Management Services Limited 100.00 17 HSBC Group Nominees UK Limited 100.00 2, 17 HSBC Holdings B.V. 100.00 17 HSBC IM Pension Trust Limited 100.00 17 HSBC Infrastructure Limited 100.00 17 HSBC INKA Investment-AG TGV 100.00 (80.67 ) 14, 102 HSBC Inmobiliaria (Mexico), S.A. de C.V. 100.00 (99.99 ) 15 HSBC Institutional Trust Services (Asia) Limited 100.00 54 Subsidiaries % of share class held by immediate parent company (or by the Group where this varies) Footnotes HSBC Institutional Trust Services (Bermuda) Limited 100.00 21 HSBC Institutional Trust Services (Mauritius) Limited 100.00 103 HSBC Institutional Trust Services (Singapore) Limited 100.00 51 HSBC Insurance (Asia) Limited 100.00 104 HSBC Insurance (Asia-Pacific) Holdings Limited 100.00 105 HSBC Insurance (Bermuda) Limited 100.00 21 HSBC Insurance (Singapore) Pte. Limited 100.00 51 HSBC Insurance Agency (USA) Inc. 100.00 98 HSBC Insurance Brokers (Philippines) Inc. 100.00 106 HSBC Insurance Holdings Limited 100.00 2, 17 HSBC Insurance SAC 1 (Bermuda) Limited 100.00 21 HSBC Insurance SAC 2 (Bermuda) Limited 100.00 21 HSBC Insurance Services (Lebanon) S.A.L. (In Liquidation) 100.00 107 HSBC Insurance Services Holdings Limited 100.00 17 HSBC International Finance Corporation (Delaware) 100.00 108 HSBC International Holdings (Jersey) Limited (In Liquidation) 100.00 (99.99 ) 77 HSBC International Trustee (BVI) Limited 100.00 109 HSBC International Trustee (Holdings) Pte. Limited 100.00 51 HSBC International Trustee Limited 100.00 110 HSBC Inversiones S.A. 99.99 57 HSBC InvestDirect (India) Limited 99.54 111 HSBC InvestDirect Financial Services (India) Limited 99.99 (99.54 ) 111 HSBC InvestDirect Sales & Marketing (India) Limited 98.99 (98.54 ) 52 HSBC InvestDirect Securities (India) Private Limited 99.99 (99.78 ) 111 HSBC Investment Bank Holdings B.V. 100.00 17 HSBC Investment Bank Holdings Limited 100.00 17 HSBC Investment Company (Egypt) S.A.E (In Liquidation) 94.54 112 HSBC Investment Company Limited 100.00 2, 17 HSBC Investment Funds (Canada) Inc. 100.00 113 HSBC Investment Funds (Hong Kong) Limited 100.00 22 HSBC Investment Funds (Luxembourg) SA 100.00 (99.99 ) 114 HSBC Invoice Finance (UK) Limited 100.00 115 HSBC Issuer Services Common Depositary Nominee (UK) Limited 100.00 17 HSBC Issuer Services Depositary Nominee (UK) Limited 100.00 17 HSBC Latin America B.V. 100.00 17 HSBC Latin America Holdings (UK) Limited 100.00 2, 17 HSBC Leasing (Asia) Limited 100.00 54 HSBC Leasing (France) 100.00 (99.99 ) 36 HSBC Life (International) Limited 100.00 21 HSBC Life (Property) Limited 100.00 104 HSBC Life (UK) Limited 100.00 17 HSBC Life Assurance (Malta) Limited 100.00 (70.03 ) 94 HSBC Life Insurance Company Limited 50.00 116 HSBC LU Nominees Limited 100.00 17 HSBC Management (Guernsey) Limited 100.00 20 HSBC Markets (USA) Inc. 100.00 26 HSBC Marking Name Nominee (UK) Limited 100.00 17 HSBC Master Trust Trustee Limited 100.00 17 HSBC Mexico, S.A., Institucion de Banca Multiple, Grupo Financiero HSBC 99.99 15 HSBC Middle East Finance Company Limited 80.00 117 HSBC Middle East Holdings B.V. 100.00 2, 69 HSBC Middle East Leasing Partnership n/a 0, 118 HSBC Middle East Securities L.L.C n/a 0, 119 HSBC Mortgage Corporation (Canada) 100.00 120 Subsidiaries % of share class held by immediate parent company (or by the Group where this varies) Footnotes HSBC Mortgage Corporation (USA) 100.00 26 HSBC Nominees (Asing) Sdn Bhd 100.00 49 HSBC Nominees (Hong Kong) Limited 100.00 54 HSBC Nominees (New Zealand) Limited 100.00 121 HSBC Nominees (Tempatan) Sdn Bhd 100.00 49 HSBC North America Holdings Inc. 100.00 3, 26 HSBC Operational Services GmbH 90.10 (72.68 ) 122 HSBC Overseas Holdings (UK) Limited 100.00 2, 17 HSBC Overseas Investments Corporation (New York) 100.00 123 HSBC Overseas Nominee (UK) Limited 100.00 17 HSBC Participaciones (Argentina) S.A. 100.00 (99.99 ) 124 HSBC PB Corporate Services 1 Limited 100.00 125 HSBC PB Services (Suisse) SA 100.00 126 HSBC Pension Trust (Ireland) DAC 100.00 127 HSBC Pensiones, S.A. 100.00 15 HSBC PI Holdings (Mauritius) Limited 100.00 103 HSBC Portfoy Yonetimi A.S. 100.00 (99.99 ) 128 HSBC Preferential LP (UK) 100.00 17 HSBC Private Bank (C.I.) Limited 100.00 20 HSBC Private Bank (Luxembourg) S.A. 100.00 114 HSBC Private Bank (Suisse) SA 100.00 126 HSBC Private Bank (UK) Limited 100.00 17 HSBC Private Bank International 100.00 129 HSBC Private Banking Holdings (Suisse) SA 100.00 126 HSBC Private Banking Nominee 3 (Jersey) Limited 100.00 125 HSBC Private Equity Advisors LLC n/a 0, 26 HSBC Private Equity Investments (UK) Limited 100.00 17 HSBC Private Trustee (Hong Kong) Limited 100.00 54 HSBC Private Wealth Services (Canada) Inc. 100.00 130 HSBC Professional Services (India) Private Limited 100.00 52 HSBC Property (UK) Limited 100.00 17 HSBC Property Funds (Holding) Limited 100.00 17 HSBC Provident Fund Trustee (Hong Kong) Limited 100.00 54 HSBC Qianhai Securities Limited 100.00 (51.00 ) 12, 131 HSBC Real Estate Leasing (France) 100.00 (99.99 ) 40 HSBC Realty Credit Corporation (USA) 100.00 26 HSBC REGIO Fund General Partner S.à r.l. 100.00 (99.99 ) 114 HSBC REIM (France) 100.00 (99.99 ) 40 HSBC Representative Office (Nigeria) Limited (In Liquidation) 100.00 132 HSBC Retirement Benefits Trustee (UK) Limited 100.00 1, 2, 17 HSBC Retirement Services Limited 100.00 1, 17 HSBC Saudi Arabia 51.00 (61.60 ) 133 HSBC Savings Bank (Philippines) Inc. 99.99 134 HSBC Securities (Asia) Limited 100.00 54 HSBC Securities (Canada) Inc. 100.00 101 HSBC Securities (Egypt) S.A.E. 100.00 (94.54 ) 67 HSBC Securities (Japan) Limited 100.00 17 HSBC Securities (Philippines) Inc. 99.99 9, 135 HSBC Securities (Singapore) Pte Limited 100.00 51 HSBC Securities (South Africa) (Pty) Limited 100.00 136 HSBC Securities (Taiwan) Corporation Limited 100.00 137 HSBC Securities (USA) Inc. 100.00 26 HSBC Securities and Capital Markets (India) Private Limited 99.99 52 HSBC Securities Asia International Nominees Limited (In Liquidation) 100.00 138 HSBC Securities Asia Nominees Limited 100.00 54 HSBC Securities Brokers (Asia) Limited 100.00 54 HSBC Securities Investments (Asia) Limited 100.00 54 HSBC Securities Services (Bermuda) Limited 100.00 21 HSBC Securities Services (Guernsey) Limited 100.00 20 HSBC Securities Services (Ireland) DAC 100.00 127 HSBC Securities Services (Luxembourg) S.A. 100.00 114 Subsidiaries % of share class held by immediate parent company (or by the Group where this varies) Footnotes HSBC Securities Services Holdings (Ireland) DAC 100.00 127 HSBC Securities Services Nominees Limited 100.00 54 HSBC Seguros de Retiro (Argentina) S.A. 100.00 (99.99 ) 53 HSBC Seguros de Vida (Argentina) S.A. 100.00 (99.99 ) 53 HSBC Seguros, S.A de C.V., Grupo Financiero HSBC 99.99 15 HSBC Service Delivery (Polska) Sp. z o.o. 100.00 139 HSBC Services (France) 100.00 (99.99 ) 37 HSBC Services Japan Limited 100.00 140 HSBC Services USA Inc. 100.00 141 HSBC Servicios Financieros, S.A. de C.V 100.00 (99.99 ) 15 HSBC Servicios, S.A. DE C.V., Grupo Financiero HSBC 100.00 (99.99 ) 15 HSBC SFH (France) 100.00 (99.99 ) 4, 40 HSBC Software Development (Guangdong) Limited 100.00 142 HSBC Software Development (India) Private Limited 100.00 143 HSBC Software Development (Malaysia) Sdn Bhd 100.00 81 HSBC Specialist Investments Limited 100.00 17 HSBC Stockbrokers Nominee (UK) Limited (In Liquidation) 100.00 32 HSBC Technology & Services (China) Limited 100.00 144 HSBC Technology & Services (USA) Inc. 100.00 26 HSBC Transaction Services GmbH 100.00 (80.67 ) 6, 145 HSBC Trinkaus & Burkhardt (International) S.A. 100.00 (80.67 ) 114 HSBC Trinkaus & Burkhardt AG 80.67 43 HSBC Trinkaus & Burkhardt Gesellschaft fur Bankbeteiligungen mbH 100.00 (80.67 ) 43 HSBC Trinkaus Europa Immobilien-Fonds Nr. 5 GmbH 100.00 (80.67 ) 43 HSBC Trinkaus Family Office GmbH 100.00 (80.67 ) 6, 43 HSBC Trinkaus Immobilien Beteiligungs KG 100.00 (80.67 ) 43 HSBC Trinkaus Real Estate GmbH 100.00 (80.67 ) 6, 43 HSBC Trust Company (Canada) 100.00 120 HSBC Trust Company (Delaware), National Association 100.00 108 HSBC Trust Company (UK) Limited 100.00 17 HSBC Trust Company AG (In Liquidation) 100.00 33 HSBC Trustee (C.I.) Limited 100.00 125 HSBC Trustee (Cayman) Limited 100.00 146 HSBC Trustee (Guernsey) Limited 100.00 20 HSBC Trustee (Hong Kong) Limited 100.00 54 HSBC Trustee (Singapore) Limited 100.00 51 HSBC UK Bank plc 100.00 16 HSBC UK Client Nominee Limited 100.00 16 HSBC UK Holdings Limited 100.00 2, 17 HSBC USA Inc. 100.00 123 HSBC Ventures USA Inc. 100.00 26 HSBC Violet Investments (Mauritius) Limited 100.00 78 HSBC Wealth Client Nominee Limited 100.00 1, 16 HSBC Yatirim Menkul Degerler A.S. 100.00 128 HSI Asset Securitization Corporation 100.00 26 HSI International Limited 100.00 (62.14 ) 42 HSIL Investments Limited 100.00 17 Hubei Macheng HSBC Rural Bank Company Limited 100.00 147 Hubei Suizhou Cengdu HSBC Rural Bank Company Limited 100.00 12, 148 Hubei Tianmen HSBC Rural Bank Company Limited 100.00 149 Hunan Pingjiang HSBC Rural Bank Company Limited 100.00 12, 150 Imenson Limited 100.00 (62.14 ) 42 INKA Internationale Kapitalanlagegesellschaft mbH 100.00 (80.67 ) 145 Inmobiliaria Banci, S.A. de C.V. 100.00 (99.68 ) 15 Subsidiaries % of share class held by immediate parent company (or by the Group where this varies) Footnotes Inmobiliaria Bisa, S.A. de C.V. 99.98 15 Inmobiliaria Grufin, S.A. de C.V. 100.00 (99.99 ) 15 Inmobiliaria Guatusi, S.A. de C.V. 100.00 (99.99 ) 15 IRERE Property Investments (French Offices) Sarl (In Liquidation) 100.00 151 James Capel & Co. Limited 100.00 17 James Capel (Nominees) Limited 100.00 17 James Capel (Taiwan) Nominees Limited 100.00 17 John Lewis Financial Services Limited 100.00 17 Keyser Ullmann Limited 100.00 (99.99 ) 17 Lion Corporate Services Limited 100.00 54 Lion International Corporate Services Limited 100.00 1, 110 Lion International Management Limited 100.00 110 Lion Management (Hong Kong) Limited 100.00 1, 54 Lyndholme Limited 100.00 54 Marks and Spencer Financial Services plc 100.00 152 Marks and Spencer Unit Trust Management Limited 100.00 152 Maxima S.A. AFJP (In Liquidation) 99.98 124 Mexicana de Fomento, S.A. de C.V. 100.00 (99.90 ) 15 Midcorp Limited 100.00 17 Midland Bank (Branch Nominees) Limited 100.00 16 Midland Nominees Limited 100.00 16 MIL (Cayman) Limited 100.00 153 MW Gestion SA 100.00 53 Promocion en Bienes Raices, S.A. de C.V. 100.00 (99.99 ) 15 Prudential Client HSBC GIS Nominee (UK) Limited 100.00 17 PT Bank HSBC Indonesia 98.93 154 PT HSBC Sekuritas Indonesia 100.00 (85.00 ) 155 R/CLIP Corp. 100.00 26 Real Estate Collateral Management Company 100.00 26 Republic Nominees Limited 100.00 20 Republic Overseas Capital Corporation 100.00 98 RLUKREF Nominees (UK) One Limited 100.00 1, 17 RLUKREF Nominees (UK) Two Limited 100.00 1, 17 S.A.P.C. - Ufipro Recouvrement 99.99 36 Saf Baiyun 100.00 (99.99 ) 4, 38 Saf Guangzhou 100.00 (99.99 ) 4, 38 Saf Zhu Jiang Shi Ba 100.00 (99.99 ) 4, 38 Saf Zhu Jiang Shi Er 100.00 (99.99 ) 4, 38 Saf Zhu Jiang Shi Jiu 100.00 (99.99 ) 4, 38 Saf Zhu Jiang Shi Liu 100.00 (99.99 ) 4, 38 Saf Zhu Jiang Shi Qi 100.00 (99.99 ) 4, 38 Saf Zhu Jiang Shi Wu 100.00 (99.99 ) 4, 38 SAS Cyatheas Pasteur 94.93 4, 36 SCI HSBC Assurances Immo 100.00 (99.99 ) 40 Serai Limited 100.00 1, 54 SFM 100.00 (99.99 ) 37 SFSS Nominees (Pty) Limited 100.00 156 Shandong Rongcheng HSBC Rural Bank Company Limited 100.00 12, 157 Sico Limited 100.00 158 SNC Dorique 99.99 1, 11, 159 SNC Kerouan 99.99 11, 38 SNC Les Mercuriales 100.00 (99.99 ) 1, 11, 38 SNC Les Oliviers D'Antibes 60.00 40 SNC Makala 100.00 (99.99 ) 1, 11, 38 SNCB/M6 - 2008 A 100.00 (99.99 ) 38 SNCB/M6-2007 A 100.00 (99.99 ) 4, 38 SNCB/M6-2007 B 100.00 (99.99 ) 4, 38 Société Française et Suisse 100.00 (99.99 ) 38 Societe Immobiliere Atlas S.A. (In Liquidation) 100.00 126 Somers Dublin DAC 100.00 (99.99 ) 127 Somers Nominees (Far East) Limited 100.00 21 Sopingest 100.00 (99.99 ) 38 South Yorkshire Light Rail Limited 100.00 17 Subsidiaries % of share class held by immediate parent company (or by the Group where this varies) Footnotes St Cross Trustees Limited 100.00 16 Sun Hung Kai Development (Lujiazui III) Limited 100.00 12, 160 Swan National Leasing (Commercials) Limited (In Liquidation) 100.00 32 Swan National Limited 100.00 17 HSBC Odeme Sistemleri Bilgisayar Teknolojileri Basin Yayin Ve Musteri Hizmetleri (In Liquidation) 100.00 (99.99 ) 161 Thasosfin 100.00 (99.99 ) 40 The Hongkong and Shanghai Banking Corporation Limited 100.00 5, 54 The Venture Catalysts Limited 100.00 17 Tooley Street View Limited 100.00 2, 17 Tower Investment Management 100.00 162 Trinkaus Australien Immobilien Fonds Nr. 1 Brisbane GmbH & Co. KG 100.00 (80.67 ) 43 Trinkaus Australien Immobilien-Fonds Nr. 1 Treuhand-GmbH 100.00 (80.67 ) 6, 43 Trinkaus Europa Immobilien-Fonds Nr.3 Objekt Utrecht Verwaltungs-GmbH 100.00 (80.67 ) 43 Trinkaus Immobilien-Fonds Geschaeftsfuehrungs-GmbH 100.00 (80.67 ) 6, 43 Trinkaus Immobilien-Fonds Verwaltungs-GmbH 100.00 (80.67 ) 6, 43 Trinkaus Private Equity Management GmbH 100.00 (80.67 ) 43 Trinkaus Private Equity Verwaltungs GmbH 100.00 (80.67 ) 6, 43 Tropical Nominees Limited 100.00 153 Turnsonic (Nominees) Limited 100.00 16 Valeurs Mobilières Elysées 100.00 (99.99 ) 163 Wardley Limited 100.00 54 Wayfoong Nominees Limited 100.00 54 Wayhong (Bahamas) Limited 100.00 100 Westminster House, LLC n/a 0, 26 Woodex Limited 100.00 21 Yan Nin Development Company Limited 100.00 (62.14 ) 42 |
Disclosure of interests in joint ventures | Joint ventures The undertakings below are joint ventures and equity accounted. Joint ventures % of share class held by immediate parent company (or by the Group where this varies) Footnotes Global Payments Technology Mexico S.A. De C.V. 50.00 15 HCM Holdings Limited (In Liquidation) 50.99 32 House Network Sdn Bhd 25.00 164 HSBC Jintrust Fund Management Company Limited 49.00 181 ProServe Bermuda Limited 50.00 165 The London Silver Market Fixing Limited n/a 0, 1, 166 Vaultex UK Limited 50.00 167 |
Disclosure of interests in associates | Principal associates of HSBC 2019 2018 Carrying amount Fair value 1 Carrying amount Fair value 1 $m $m $m $m Bank of Communications Co., Limited 18,982 10,054 17,754 10,991 The Saudi British Bank 4,370 5,550 3,557 5,222 1 Principal associates are listed on recognised stock exchanges. The fair values are based on the quoted market prices of the shares held (Level 1 in the fair value hierarchy). At 31 Dec 2019 Footnotes Country of incorporation and principal place of business Principal activity HSBC’s interest % Bank of Communications Co., Limited People’s Republic of China Banking services 19.03 The Saudi British Bank 1 Saudi Arabia Banking services 29.20 1 In June 2019, the merger between The Saudi British Bank (‘SABB’) and Alawwal bank (‘Alawwal’) became effective. The merger involved SABB issuing a fixed number of new shares to Alawwal’s shareholders in exchange for the transfer of Alawwal’s net assets and cancellation of its shares. HSBC’s 40.0% interest in SABB reduced to 29.2% of the combined entity, resulting in a dilution gain of $828m recognised in HSBC’s consolidated income statement. The dilution gain represents the difference between the carrying amount of HSBC’s interest in SABB that was derecognised proportionate to the percentage reduction, and HSBC’s share of the increase in the combined entity’s net assets. The combined entity continues to be an associate of HSBC. At 31 Dec 2019 At 31 Dec 2018 VIU Carrying value Fair value VIU Carrying value Fair value $bn $bn $bn $bn $bn $bn BoCom 21.5 19.0 10.1 18.0 17.8 11.0 Selected balance sheet information of BoCom At 30 Sep 2019 2018 $m $m Cash and balances at central banks 112,239 125,414 Loans and advances to banks and other financial institutions 108,026 102,980 Loans and advances to customers 730,510 686,951 Other financial assets 435,740 408,136 Other assets 40,101 42,106 Total assets 1,426,616 1,365,587 Deposits by banks and other financial institutions 290,492 304,395 Customer accounts 868,627 829,539 Other financial liabilities 131,772 94,900 Other liabilities 23,074 36,332 Total liabilities 1,313,965 1,265,166 Total equity 112,651 100,421 Selected income statement information of BoCom For the 12 months ended 30 Sep 2019 2018 $m $m Net interest income 20,558 19,295 Net fee and commission income 6,411 6,245 Change in expected credit losses and other credit impairment charges (7,479 ) (5,602 ) Depreciation and amortisation (1,934 ) (767 ) Tax expense (1,636 ) (1,554 ) Profit for the year 11,175 11,116 Other comprehensive income 315 190 Total comprehensive income 11,490 11,306 Dividends received from BoCom 613 611 Associates The undertakings below are associates and equity accounted. Associates % of share class held by immediate parent company (or by the Group where this varies) Footnotes Bank of Communications Co., Ltd. 19.03 168 Barrowgate Limited 15.31 169 BGF Group PLC 24.54 170 Bud Financial Limited 8.20 1, 171 Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited 26.00 172 CFAC Payment Scheme Limited 33.33 173 Chemi & Cotex (Rwanda) Limited 33.99 1, 174 Chemi & Cotex Kenya Limited 33.99 1, 175 Chemi and Cotex Industries Limited 33.99 176 EPS Company (Hong Kong) Limited 38.66 54 Euro Secured Notes Issuer 16.66 177 GIE GNIFI n/a 0, 178 GZHS Research Co Ltd 33.00 (20.50 ) 179 Hang Seng Qianhai Fund Management Company Limited 70.00 (43.49 ) 1, 12, 180 Icon Brickell LLC(In Liquidation) n/a 0, 182 Jeppe Star Limited 100.00 (33.99 ) 183 MENA Infrastructure Fund (GP) Ltd 33.33 184 Northstar Trade Finance Inc. 20.08 185 Novo Star Limited 33.99 186 Quantexa Ltd 10.51 187 Services Epargne Entreprise 14.34 188 sino AG 24.94 (20.11 ) 189 The London Gold Market Fixing Limited n/a 0, 166 The Saudi British Bank 29.20 190 Trinkaus Europa Immobilien-Fonds Nr. 7 Frankfurt Mertonviertel KG n/a 0, 43 Vizolution Limited 17.95 1, 191 We Trade Innovation Designated Activity Company 8.52 1, 192 Footnotes for Note 37 Description of Shares 0 Where an entity is governed by voting rights, HSBC consolidates when it holds – directly or indirectly – the necessary voting rights to pass resolutions by the governing body. In all other cases, the assessment of control is more complex and requires judgement of other factors, including having exposure to variability of returns, power to direct relevant activities, and whether power is held as an agent or principal. HSBC’s consolidation policy is described in Note 1.2(a). 1 Management has determined that these undertakings are excluded from consolidation in the Group accounts as these entities do not meet the definition of subsidiaries in accordance with IFRS. HSBC’s consolidation policy is described in Note 1.2(a). 2 Directly held by HSBC Holdings plc 3 Preference Shares 4 Actions 5 Redeemable Preference Shares 6 GmbH Anteil 7 Limited and Unlimited Liability Shares 8 Liquidating Share Class 9 Nominal Shares 10 Non-Participating Voting Shares 11 Parts 12 Registered Capital Shares 13 Russian Limited Liability Company Shares 14 Stückaktien |
Disclosure of description of shares from interests in subsidiaries, joint ventures, and associates | Footnotes for Note 37 Description of Shares 0 Where an entity is governed by voting rights, HSBC consolidates when it holds – directly or indirectly – the necessary voting rights to pass resolutions by the governing body. In all other cases, the assessment of control is more complex and requires judgement of other factors, including having exposure to variability of returns, power to direct relevant activities, and whether power is held as an agent or principal. HSBC’s consolidation policy is described in Note 1.2(a). 1 Management has determined that these undertakings are excluded from consolidation in the Group accounts as these entities do not meet the definition of subsidiaries in accordance with IFRS. HSBC’s consolidation policy is described in Note 1.2(a). 2 Directly held by HSBC Holdings plc 3 Preference Shares 4 Actions 5 Redeemable Preference Shares 6 GmbH Anteil 7 Limited and Unlimited Liability Shares 8 Liquidating Share Class 9 Nominal Shares 10 Non-Participating Voting Shares 11 Parts 12 Registered Capital Shares 13 Russian Limited Liability Company Shares 14 Stückaktien |
Disclosure of registered offices from interests in subsidiaries, joint ventures, and associates | Registered offices 15 Paseo de la Reforma 347, Col. Cuauhtemoc , Mexico, 06500 16 1 Centenary Square, Birmingham, United Kingdom, B1 1HQ 17 8 Canada Square , London, United Kingdom, E14 5HQ 18 5 Donegal Square South , Belfast, Northern Ireland, BT1 5JP 19 Camden House West The Parade, Birmingham, United Kingdom, B1 3PY 20 Arnold House St Julians Avenue, St Peter Port, Guernsey, GY1 3NF 21 37 Front Street, Hamilton, Bermuda, HM 11 22 HSBC Main Building 1 Queen's Road Central, Hong Kong 23 First Floor, Xinhua Bookstore Xindong Road (SE of roundabout), Miyun District, Beijing, China 24 95 Washington Street , Buffalo, New York, United States Of America, 14203 25 1209 Orange Street , Wilmington, Delaware, United States Of America, 19801 26 c/o The Corporation Trust Company 1209 Orange Street, Wilmington, Delaware, United States Of America, 19801 27 Corporation Service Company 251 Little Falls Drive, Wilmington, Delaware, United States Of America, 19808 28 Solidere - Rue Saad Zaghloul Immeuble - 170 Marfaa, PO Box 17 5476 Mar Michael 11042040, Beyrouth, Lebanon 29 No 1, Bei Huan East Road Dazu County, Chongqing, China 30 No 107, Ping Du Avenue (E), Sanhe Town, Fengdu County , Chongqing, China 31 No. 3, 5, 7, Haitang Erzhi Road Changyuan, Rongchang, Chongqing, China, 402460 32 Hill House 1 Little New Street, London, United Kingdom, EC4A 3TR 33 Bederstrasse 49 , Zurich, Switzerland, CH-8002 34 First & Second Floor, No.3 Nanshan Road, Pulandian , Dalian, Liaoning, China 35 CT Corporation System 225 Hillsborough Street, Raleigh, North Carolina, United States Of America, 27603 36 39, rue de Bassano, Paris, France, 75008 37 103, avenue des Champs-Elysées, Paris, France, 75008 38 64, rue Galilée, Paris, France, 75008 Registered offices 39 MMG Tower, 23 floor Ave. Paseo del Mar Urbanizacion Costa del Este, Panama 40 15, rue Vernet , Paris, France, 75008 41 No. 1 1211 Yanjiang Zhong Road, Yongan, Fujian, China 42 83 Des Voeux Road Central , Hong Kong 43 Königsallee 21/23 , Düsseldorf, Germany, 40212 44 No. 44, Xin Ping Road Central, Encheng, Enping , Guangdong, China, 529400 45 34/F and 36/F, Hang Seng Bank Tower, 1000 Lujiazui Ring Road,, China (Shanghai) Pilot Free Trade Zone,, Shanghai , China, 200120 46 Commerce House, Wickhams Cay 1, P.O. Box 3140, Road Town, Tortola, VG1110, British Virgin Islands 47 The Corporation Trust Company of Nevada 311 S. Division Street, Carson City, Nevada, United States Of America, 89703 48 HSBC House Esplanade, St. Helier, Jersey, JE4 8UB 49 10th Floor, North Tower 2 Leboh Ampang, Kuala Lumpur, Malaysia, 50100 50 13th Floor, South Tower 2 Leboh Ampang, Kuala Lumpur, Malaysia, 50100 51 21 Collyer Quay #10-02 HSBC Building , Singapore, 049320 52 52/60 M G Road, Fort, Mumbai, India, 400 001 53 557 Bouchard, Level 20 , Ciudad de Buenos Aires, Capital federal, Argentina, C1106ABG 54 1 Queen's Road Central , Hong Kong 55 3rd Floor, Merchantile Bank Chamber 16, Veer Nariman Road, Fort, Mumbai, India, 400001 56 Level 36 Tower 1 International Towers Sydney, 100 Barangaroo Avenue, Sydney, New South Wales, Australia, 2000 57 Isidora Goyenechea 2800, 23rd floor, Las Condes , Santiago, Chile, 7550647 58 HSBC Building Shanghai ifc, 8 Century Avenue, Pudong, Shanghai, China, 200120 59 6th floor, HSBC Centre, 18, Cybercity, Ebene , Mauritius 60 2 Paveletskaya square, building 2 , Moscow, Russian Federation, 115054 61 13F-14F, 333 Keelung Road, Sec.1 , Taipei, 110 62 25 de Mayo 471 , Montevideo, Uruguay, 11000 63 The Metropolitan 235 Dong Khoi Street , District 1, Ho Chi Minh City , Vietnam 64 Esentepe mah. Büyükdere Caddesi No.128 Istanbul 34394 , Turkey 65 66 Teryan street , Yerevan, Armenia, 0009 66 885 West Georgia Street, 3rd Floor, Vancouver, British Columbia, Canada, V6C 3E9 67 306 Corniche El Nil , Maadi, Egypt, 11728 68 116 Archbishop Street, Valletta, Malta 69 Level 1, Building No. 8, Gate Village Dubai International Financial Centre, PO Box 30444, United Arab Emirates 70 Majer Consulting, Office 54/44, Building A1, Residence Ryad Anfa,, Boulevard Omar El Khayam, Casa Finance City (CFC), Casablanca, Morocco 71 Al Khuwair Office PO Box 1727 PC111 CPO Seeb, Muscat, Oman 72 1800 Tysons Boulevard Suite 50, Tysons, Virginia, United States Of America, 22102 73 Rua Funchal, nº 160, SP Corporate Towers, Torre Norte, 19° andar, cj 191A - Parte, São Paulo, Brazil, 04551-060 74 66 Wellington Street West, Suite 5300, Toronto, Ontario, Canada, M5K 1E6 75 P.O. Box 1109, Strathvale House, Ground floor, 90 North Church Street , George Town, Grand Cayman, Cayman Islands, KY1-1102 76 90 North Church Street, Strathvale House - Ground Floor, PO Box 1109, George Town, Grand Cayman, Grand Cayman, Cayman Islands, KY1-1102 77 HSBC House Esplanade, St. Helier, Jersey, JE1 1HS 78 c/o Rogers Capital St. Louis Business Centre, Cnr Desroches & St Louis Streets, Port Louis, Mauritius 79 49 avenue J.F. Kennedy , Luxembourg, Luxembourg, 1855 Registered offices 80 4-17/F, Office Tower 2 TaiKoo Hui, No. 381 Tian He Road, Tian He District, Guangzhou, Guangdong, China 81 Suite 1005, 10th Floor, Wisma Hamzah Kwong Hing No. 1, Leboh Ampang, Kuala Lumpur, Malaysia, 50100 82 HSBC, Filinvest One Bldg Northgate Cyberzone, Filinvest Corporate City, Alabang, Muntinlupa City, Philippines, 1781 83 HSBC House Plot No.8, Survey No.64 (Part), Hightec City Layout Madhapur, Hyderabad, India, 500081 84 439, Sri Jayawardenapura Mawatha Welikada, Rajagiriya, Colombo, Sri Lanka 85 Smart Village 28th Km Cairo- Alexandria Desert Road Building , Cairo, Egypt 86 Suite 300, 3381 Steeles Avenue East , Toronto, Ontario, Canada, M2H 3S7 87 Centre Ville 1341 Building - 4th Floor Patriarche Howayek Street (facing Beirut Souks), PO Box Riad El Solh, Lebanon, 9597 88 First Floor Building No. 5, Emaar Square,, Dubai, Dubai, United Arab Emirates 89 World Trade Center Montevideo Avenida Luis Alberto de Herrera 1248, Torre 1, Piso 15, Oficina 1502, Montevideo, Uruguay, CP 11300 90 Level 12, HSBC Building 37, Chilpae-ro, Jung-gu, Seoul, Korea, Republic Of (South) 91 Immeuble Coeur Défense 110, Esplanade du Général de Gaulle- La défense 4, Courbevoie, France, 92400 92 HSBC House Esplanade, St. Helier, Jersey, JE4 8WP 93 HSBC Building 11-1, Nihonbashi 3-chome, Chuo-ku, Tokyo, Japan, 103-0027 94 80 Mill Street, Qormi, Malta, QRM 3101 95 Herrengasse 1-3 , Wien, Austria, 1010 96 Gartenstrasse 26 , Zurich, Switzerland 97 24th Fl., 97-99, Sec.2, Tunhwa S. Rd., Taipei, Taiwan, R.O.C. , Taiwan 98 452 Fifth Avenue, New York NY10018, United States Of America 99 Bouchard 557, Piso 18° , Cdad. Autónoma de Buenos Aires, Argentina, 1106 100 Mareva House 4 George Street, Nassau, Bahamas 101 70 York Street, Toronto, Ontario, Canada, M5J 1S9 102 Breite Str. 29/31 , Düsseldorf, Germany, 40213 103 18 HSBC Centre, 6th Floor, Cybercity, Ebene, Mauritius, 72201 104 18th Floor, Tower 1, HSBC Centre, 1 Sham Mong Road, Kowloon, Hong Kong 105 Level 32, HSBC Main Building 1 Queen's Road Central, Hong Kong SAR, Hong Kong 106 7/F HSBC Centre 3058 Fifth Ave West, Bonifacio Global City, Taguig City, Philippines 107 HSBC Building Minet El Hosn, Riad el Solh, Beirut 1107-2080, PO Box 11-1380, Lebanon 108 300 Delaware Avenue Suite 1401, Wilmington, Delaware, United States Of America, 19801 109 Woodbourne Hall, Road Town PO Box 916, Tortola, British Virgin Islands 110 Craigmuir Chambers, PO Box 71, Road Town, Tortola, British Virgin Islands 111 9-11 Floors, NESCO IT Park Building No. 3 Western Express Highway, Goregaon (East), Mumbai, India, 400063 112 3, Aboul Feda Street, Zamalek, Cairo , Egypt 113 300 - 885 West Georgia Street, Vancouver, British Columbia, Canada, V6C 3E9 114 16 Boulevard d'Avranches, Luxembourg, Luxembourg, 1160 115 21 Farncombe Road , Worthing, United Kingdom, BN11 2BW 116 18/F, Unit 2101, 2113, 2113A, 2115 and 2116 of 21/F, HSBC Building, 8 Century Avenue, China (Shanghai) Pilot Free Trade Zone, Shanghai, China, 200120 117 Plot No.312-878 Mezzanine Floor,, Bldg. of Sheikh Hamdan Bin Rashid, Dubai Creek, Dubai, United Arab Emirates 118 Unit 101 Level 1, Gate Village Building No. 8 Dubai International Financial Centre, Dubai, United Arab Emirates, PO BOX 506553 119 Level 16 HSBC Tower, Downtown Dubai, Dubai, United Arab Emirates Registered offices 120 885 West Georgia Street Suite 300, Vancouver, British Columbia, Canada, V6C 3E9 121 HSBC House Level 9, One Queen Street, Auckland, New Zealand, 1010 122 21-23 Yorckstraße, Düsseldorf, Nordrhein-Westfalen, Germany, 40476 123 The Corporation Trust Incorporated, 2405 York Road, Suite 201, Lutherville Timonium, Maryland, United States Of America, 21093 124 557 Bouchard, Level 22 , Ciudad de Buenos Aires, Capital federal, Argentina, C1106ABG 125 HSBC House Esplanade, St. Helier, Jersey, JE1 1GT 126 Quai des Bergues 9-17 , Geneva, Switzerland, 1201 127 1 Grand Canal Square Grand Canal Harbour, Dublin 2, D02 P820, Ireland 128 Büyükdere Cad. No.128 D Blok Esentepe Sisli Istanbul, Turkey 129 1441 Brickell Avenue , Miami, Florida, United States Of America, 33131 130 300-885 West Georgia Street, Vancouver, British Columbia, Canada, V6C 3E9 131 Block 27 A&B, Qianhai Enterprise Dream Park No. 63 Qianwan Yi Road, Shenzhen-Hong Kong Cooperation Zone, Shenzhen, China, 518052 132 St Nicholas House, 10th Floor Catholic Mission St Lagos, Nigeria 133 HSBC Building 7267 Olaya - Al Murrooj, Riyadh, Saudi Arabia, 12283 - 2255 134 Unit 1 GF The Commerical Complex Madrigal Avenue, Ayala Alabang Village, Muntinlupa City, Philippines, 1780 135 6/F HSBC Centre, 3058 Fifth Avenue West, Bonifaco Global City, Taguig City, Philippines 136 1 Mutual Place 107 Rivonia Road , Sandton , Sandton, Gauteng, South Africa, 2196 137 13F 333 Keelung Road, Sec.1, Taipei, Taiwan, 110 138 Palm Grove House PO Box 438, Road Town, Tortola, British Virgin Islands 139 Kapelanka 42A , Krakow, Poland, 30-347 140 MB&H Corporate Services Ltd Mareva House, 4 George Street, Nassau, Bahamas 141 The Corporation Trust Company 820 Bear Tavern Road, West Trenton, New Jersey, United States Of America, 08628 142 L22, Office Tower 2, Taikoo Hui, 381 Tianhe Road, Tianhe District, Guangzhou, Guangdong, Guangdong, China 143 HSBC Centre River Side, West Avenue, 25B Raheja woods, Kalyaninagar, Pune, India, 411006 144 Level 19, HSBC Building, Shanghai ifc 8 Century Avenue Pudong, Shanghai, China 145 Yorckstraße 21 - 23 40476, Duesseldorf, Germany 146 P.O. Box 309 Ugland House , Grand Cayman, Cayman Islands, KY1-1104 147 No. 56, Yu Rong Street , Macheng, China, 438300 148 No. 205, Lie Shan Road Suizhou, Hubei, China 149 Building 3, Yin Zuo Di Jing Wan Tianmen New City,Tianmen, Hubei Province, China 150 RM101, 102 & 106 Sunshine Fairview, Sunshine Garden, Pedestrian Walkway, Pingjiang, China 151 6, rue Adolphe , Luxembourg, L-1116 152 Kings Meadow Chester Business Park, Chester, United Kingdom, CH99 9FB 153 PO Box 1109 Strathvale House, 90 North Church Street, George Town, Grand Cayman, Cayman Islands 154 World Trade Center 1, Floor 8-9 Jalan Jenderal Sudirman Kavling 29 - 31, Jakarta, Indonesia, 12920 155 5th Floor, World Trade Center 1, Jl. Jend. Sudirman Kav. 29-31, Jakarta, Indonesia, 12920 156 No 1 Mutual Place 107 Rivonia Road , Sandton , Sandton , Gauteng, South Africa, 2196 157 No.198-2, Chengshan Avenue (E) , Rongcheng, China, 264300 158 Woodbourne Hall, Road Town PO Box 3162, Tortola, British Virgin Islands 159 43 rue de Paris , Saint Denis, France, 97400 Registered offices 160 RM 2112, HSBC Building, Shanghai ifc No. 8 Century Road, Pudong, Shanghai, China, 200120 161 Büyükdere Cad. No.122 D Blok Esentepe Sisli Istanbul , Turkey 162 11 Dr. Roy’s Drive PO Box 694GT, Grand Cayman, Cayman Islands, KY1-1107 163 109 avenue des Champs-Elysees, Paris, France, 75008 164 Lot 6.05, Level 6, KPMG Tower 8 First Avenue, Bandar Utama, Petaling Jaya, Selangor Darul Ehsan, Malaysia, 47800 165 c/o MUFG Fund Services (Bermuda) Limited The Belvedere Building, 69 Pitts Bay Road, Pembroke, Bermuda, HM08 166 c/o Hackwood Secretaries Limited One Silk Street, London, United Kingdom, EC2Y 8HQ 167 All Saints Triangle, Caledonian Road, London, United Kingdom, N19UT 168 No.188, Yin Cheng Zhong Road China (Shanghai) Pilot Free Trade Zone, Shanghai, China 169 49/F, The Lee Gardens, 33 Hysan Avenue , Hong Kong 170 13 - 15 York Buildings , London, United Kingdom, WC2N 6JU 171 First Floor The Bower, 207 Old Street, England, United Kingdom, EC1V 9NR 172 Unit No. 208, 2nd Floor, Kanchenjunga Building 18 Barakhamba Road, New Delhi - 110001, India 173 65 Gresham Street, 6th Floor, London , United Kingdom, EC2V 7NQ 174 Kacyiru BP 3094, Kigali, Rwanda 175 LR No. 1758/13 Grevella Grove Road, Kalamu House PO Box 47323-00100, Nairobi, Kenya 176 Plot No. 89-90 Mbezi Industrial Area Box 347, Dar es Salaam City 177 3 avenue de l'Opera , PARIS, France, 75001 178 37 avenue Henri Lafleur , Nouméa, New Caledonia, BP K3 98849 179 Room 1303, 106 Feng Ze Dong Road, Nansha District, Guangzhou, Guangdong, China 180 Flat 209 Hedge Fund Centre of Qianhai Shenzhen-Hong Kong Fund Town, No. 128 Guiwan Five Road, Qianhai Shenzhen-Hong Kong Cooperation Zone, Shenzhen, China 181 17F, HSBC Building, Shanghai ifc 8 Century Avenue, Pudong, Shanghai, China 182 C T Corporation System 1200 South Pine Island Road, Plantation, Florida, United States Of America, 33324 183 c/o Trident Trust Company Trident Chambers, PO Box 146, Tortola, British Virgin Islands 184 Precinct Building 4, Level 3 Dubai International Financial Centre, Dubai, United Arab Emirates, PO BOX 506553 185 833 Three Bentall Centre 595 Burrard Street, Vancouver, British Columbia, Canada, V7X 1C4 186 Jayla Place Wickhams Cay I, PO Box 3190, Road Town, British Virgin Islands 187 75 Park Lane, Croydon, Surrey, United Kingdom, CR9 1XS 188 32, rue du Champ de Tir , NANTES, France, 44300 189 Ernst-Schneider-Platz 1 , Duesseldorf, Germany, 40212 190 Al Amir Abdulaziz Ibn Mossaad Ibn Jalawi Street, Riyadh, Saudi Arabia 191 Office Block A, Bay Studios Business Park, Fabian Way, Swansea, SA1 8QB, Wales, United Kingdom 192 10 Earlsfort Terrace, Dublin, Ireland, D02 T380 |
Report Of The Directors Finan_3
Report Of The Directors Financial Review Risk Report (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Report Of The Directors Financial Review Risk Report [Abstract] | |
Disclosure of detailed information about financial instruments | Summary of financial instruments to which the impairment requirements in IFRS 9 are applied (Audited) 31 Dec 2019 At 31 Dec 2018 Gross carrying/nominal amount Allowance for ECL 1 Gross carrying/nominal amount Allowance for ECL 1 Footnotes $m $m $m $m Loans and advances to customers at amortised cost 1,045,475 (8,732 ) 990,321 (8,625 ) – personal 434,271 (3,134 ) 394,337 (2,947 ) – corporate and commercial 540,499 (5,438 ) 534,577 (5,552 ) – non-bank financial institutions 70,705 (160 ) 61,407 (126 ) Loans and advances to banks at amortised cost 69,219 (16 ) 72,180 (13 ) Other financial assets measured at amortised cost 615,179 (118 ) 582,917 (55 ) – cash and balances at central banks 154,101 (2 ) 162,845 (2 ) – items in the course of collection from other banks 4,956 — 5,787 — – Hong Kong Government certificates of indebtedness 38,380 — 35,859 — – reverse repurchase agreements – non-trading 240,862 — 242,804 — – financial investments 85,788 (53 ) 62,684 (18 ) – prepayments, accrued income and other assets 2 91,092 (63 ) 72,938 (35 ) Total gross carrying amount on-balance sheet 1,729,873 (8,866 ) 1,645,418 (8,693 ) Loans and other credit-related commitments 600,029 (329 ) 592,008 (325 ) – personal 223,314 (15 ) 207,351 (13 ) – corporate and commercial 278,524 (307 ) 271,022 (305 ) – non-bank financial institutions 98,191 (7 ) 113,635 (7 ) Financial guarantees 20,214 (48 ) 23,518 (93 ) – personal 804 (1 ) 927 (1 ) – corporate and commercial 14,804 (44 ) 17,355 (85 ) – non-bank financial institutions 4,606 (3 ) 5,236 (7 ) Total nominal amount off-balance sheet 3 620,243 (377 ) 615,526 (418 ) 2,350,116 (9,243 ) 2,260,944 (9,111 ) Fair value Memorandum allowance for ECL 4 Fair value Memorandum allowance for 4 $m $m $m $m Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) 355,664 (166 ) 343,110 (84 ) 1 The total ECL is recognised in the loss allowance for the financial asset unless the total ECL exceeds the gross carrying amount of the financial asset, in which case the ECL is recognised as a provision. 2 Includes only those financial instruments that are subject to the impairment requirements of IFRS 9. ‘Prepayments, accrued income and other assets’, as presented within the consolidated balance sheet on page 262 , includes both financial and non-financial assets. 3 Represents the maximum amount at risk should the contracts be fully drawn upon and clients default. 4 Debt instruments measured at FVOCI continue to be measured at fair value with the allowance for ECL as a memorandum item. Change in ECL is recognised in ‘Change in expected credit losses and other credit impairment charges’ in the income statement Maximum exposure to credit risk (Audited) 2019 2018 Maximum exposure Offset Net Maximum exposure Offset Net $m $m $m $m $m $m Loans and advances to customers held at amortised cost 1,036,743 (28,524 ) 1,008,219 981,696 (29,534 ) 952,162 – personal 431,137 (4,640 ) 426,497 391,390 (3,679 ) 387,711 – corporate and commercial 535,061 (21,745 ) 513,316 529,025 (23,421 ) 505,604 – non-bank financial institutions 70,545 (2,139 ) 68,406 61,281 (2,434 ) 58,847 Loans and advances to banks at amortised cost 69,203 — 69,203 72,167 — 72,167 Other financial assets held at amortised cost 616,648 (28,826 ) 587,822 585,600 (21,788 ) 563,812 – cash and balances at central banks 154,099 — 154,099 162,843 — 162,843 – items in the course of collection from other banks 4,956 — 4,956 5,787 — 5,787 – Hong Kong Government certificates of indebtedness 38,380 — 38,380 35,859 — 35,859 – reverse repurchase agreements – non-trading 240,862 (28,826 ) 212,036 242,804 (21,788 ) 221,016 – financial investments 85,735 — 85,735 62,666 — 62,666 – prepayments, accrued income and other assets 92,616 — 92,616 75,641 — 75,641 Derivatives 242,995 (232,908 ) 10,087 207,825 (194,306 ) 13,519 Total on-balance sheet exposure to credit risk 1,965,589 (290,258 ) 1,675,331 1,847,288 (245,628 ) 1,601,660 Total off-balance sheet 893,246 — 893,246 874,751 — 874,751 – financial and other guarantees 95,967 — 95,967 94,810 — 94,810 – loan and other credit-related commitments 797,279 — 797,279 779,941 — 779,941 At 31 Dec 2,858,835 (290,258 ) 2,568,577 2,722,039 (245,628 ) 2,476,411 Unamortised balance of derivatives valued using models with significant unobservable inputs 2019 2018 Footnotes $m $m Unamortised balance at 1 Jan 86 106 Deferral on new transactions 145 161 Recognised in the income statement during the year: (154 ) (158 ) – amortisation (80 ) (96 ) – subsequent to unobservable inputs becoming observable (3 ) (2 ) – maturity, termination or offsetting derivative (71 ) (60 ) Exchange differences 1 (4 ) Other (5 ) (19 ) Unamortised balance at 31 Dec 1 73 86 1 This amount is yet to be recognised in the consolidated income statement. |
Disclosure of credit risk | Summary of credit risk (excluding debt instruments measured at FVOCI) by stage distribution and ECL coverage by industry sector at 31 December 2019 (Audited) Gross carrying/nominal amount 1 Allowance for ECL ECL coverage % Stage 1 Stage 2 Stage 3 POCI 2 Total Stage 1 Stage 2 Stage 3 POCI 2 Total Stage 1 Stage 2 Stage 3 POCI 2 Total $m $m $m $m $m $m $m $m $m $m % % % % % Loans and advances to customers at amortised cost 951,583 80,182 13,378 332 1,045,475 (1,297 ) (2,284 ) (5,052 ) (99 ) (8,732 ) 0.1 2.8 37.8 29.8 0.8 – personal 413,669 15,751 4,851 — 434,271 (583 ) (1,336 ) (1,215 ) — (3,134 ) 0.1 8.5 25.0 — 0.7 – corporate and commercial 472,253 59,599 8,315 332 540,499 (672 ) (920 ) (3,747 ) (99 ) (5,438 ) 0.1 1.5 45.1 29.8 1.0 – non-bank financial institutions 65,661 4,832 212 — 70,705 (42 ) (28 ) (90 ) — (160 ) 0.1 0.6 42.5 — 0.2 Loans and advances to banks at amortised cost 67,769 1,450 — — 69,219 (14 ) (2 ) — — (16 ) — 0.1 — — — Other financial assets measured at amortised cost 613,200 1,827 151 1 615,179 (38 ) (38 ) (42 ) — (118 ) — 2.1 27.8 — — Loan and other credit-related commitments 577,631 21,618 771 9 600,029 (137 ) (133 ) (59 ) — (329 ) — 0.6 7.7 — 0.1 – personal 221,490 1,630 194 — 223,314 (13 ) (2 ) — — (15 ) — 0.1 — — — – corporate and commercial 259,138 18,804 573 9 278,524 (118 ) (130 ) (59 ) — (307 ) — 0.7 10.3 — 0.1 – financial 97,003 1,184 4 — 98,191 (6 ) (1 ) — — (7 ) — 0.1 — — — Financial guarantees 17,684 2,340 186 4 20,214 (16 ) (22 ) (10 ) — (48 ) 0.1 0.9 5.4 — 0.2 – personal 802 1 1 — 804 (1 ) — — — (1 ) 0.1 — — — 0.1 – corporate and commercial 12,540 2,076 184 4 14,804 (14 ) (21 ) (9 ) — (44 ) 0.1 1.0 4.9 — 0.3 – financial 4,342 263 1 — 4,606 (1 ) (1 ) (1 ) — (3 ) — 0.4 100.0 — 0.1 At 31 Dec 2019 2,227,867 107,417 14,486 346 2,350,116 (1,502 ) (2,479 ) (5,163 ) (99 ) (9,243 ) 0.1 2.3 35.6 28.6 0.4 1 R epresents the maximum amount at risk should the contracts be fully drawn upon and clients default. 2 Purchased or originated credit-impaired (‘POCI’). Summary of credit risk (excluding debt instruments measured at FVOCI) by stage distribution and ECL coverage by industry sector at 31 December 2018 3 (continued) (Audited) Gross carrying/nominal amount 1 Allowance for ECL ECL coverage % Stage 1 Stage 2 Stage 3 POCI 2 Total Stage 1 Stage 2 Stage 3 POCI 2 Total Stage 1 Stage 2 Stage 3 POCI 2 Total $m $m $m $m $m $m $m $m $m $m % % % % % Loans and advances to customers at amortised cost 908,393 68,581 13,023 324 990,321 (1,276 ) (2,108 ) (5,047 ) (194 ) (8,625 ) 0.1 3.1 38.8 59.9 0.9 – personal 374,681 15,075 4,581 — 394,337 (534 ) (1,265 ) (1,148 ) — (2,947 ) 0.1 8.4 25.1 — 0.7 – corporate and commercial 474,700 51,341 8,212 324 534,577 (698 ) (812 ) (3,848 ) (194 ) (5,552 ) 0.1 1.6 46.9 59.9 1.0 – non-bank financial institutions 59,012 2,165 230 — 61,407 (44 ) (31 ) (51 ) — (126 ) 0.1 1.4 22.2 — 0.2 Loans and advances to banks at amortised cost 71,873 307 — — 72,180 (11 ) (2 ) — — (13 ) — 0.7 — — — Other financial assets measured at amortised cost 581,118 1,673 126 — 582,917 (27 ) (6 ) (22 ) — (55 ) — 0.4 17.5 — — Loan and other credit-related commitments 567,232 23,857 912 7 592,008 (143 ) (139 ) (43 ) — (325 ) — 0.6 4.7 — 0.1 – personal 205,183 1,760 408 — 207,351 (12 ) (1 ) — — (13 ) — 0.1 — — — – corporate and commercial 249,587 20,925 503 7 271,022 (126 ) (136 ) (43 ) — (305 ) 0.1 0.6 8.5 — 0.1 – financial 112,462 1,172 1 — 113,635 (5 ) (2 ) — — (7 ) — 0.2 — — — Financial guarantees 20,834 2,384 297 3 23,518 (19 ) (29 ) (45 ) — (93 ) 0.1 1.2 15.2 — 0.4 – personal 920 3 4 — 927 (1 ) — — — (1 ) 0.1 — — — 0.1 – corporate and commercial 14,963 2,101 288 3 17,355 (16 ) (25 ) (44 ) — (85 ) 0.1 1.2 15.3 — 0.5 – financial 4,951 280 5 — 5,236 (2 ) (4 ) (1 ) — (7 ) — 1.4 20.0 — 0.1 At 31 Dec 2018 2,149,450 96,802 14,358 334 2,260,944 (1,476 ) (2,284 ) (5,157 ) (194 ) (9,111 ) 0.1 2.4 35.9 58.1 0.4 1 R epresents the maximum amount at risk should the contracts be fully drawn upon and clients default. 2 Purchased or originated credit-impaired (‘POCI’). 3 During the period, the Group has re-presented the UK wholesale lending stage 1 and stage 2 amount. For further details, see page 122 . |
Disclosure of financial assets that are either past due or impaired | Stage 2 days past due analysis at 31 December 2018 2 (Audited) Gross carrying amount Allowance for ECL ECL coverage % Of which: Of which: Of which: Of which: Of which: Of which: Stage 2 1 to 29 1 30 and > DPD 1 Stage 2 1 to 29 1 30 and > DPD 1 Stage 2 1 to 29 1 30 and > DPD 1 $m $m $m $m $m $m % % % Loans and advances to customers at amortised cost 68,581 2,561 1,914 (2,108 ) (204 ) (254 ) 3.1 8.0 13.3 – personal 15,075 1,807 1,383 (1,265 ) (165 ) (220 ) 8.4 9.1 15.9 – corporate and commercial 51,341 744 485 (812 ) (39 ) (34 ) 1.6 5.2 7.0 – non-bank financial institutions 2,165 10 46 (31 ) — — 1.4 — — Loans and advances to banks at amortised cost 307 — — (2 ) — — 0.7 — — Other financial assets measured at amortised cost 1,673 10 26 (6 ) — — 0.4 — — 1 Days past due (‘DPD’). Up to date accounts in stage 2 are not shown in amounts. 2 During the period, the Group has re-presented the UK wholesale lending stage 1 and stage 2 amount. For further details, see page 122 . Stage 2 days past due analysis at 31 December 2019 (Audited) Gross carrying amount Allowance for ECL ECL coverage % Of which: Of which: Of which: Of which: Of which: Of which: Stage 2 1 to 29 DPD 1 30 and > DPD 1 Stage 2 1 to 29 DPD 1 30 and > DPD 1 Stage 2 1 to 29 DPD 1 30 and > DPD 1 $m $m $m $m $m $m % % % Loans and advances to customers at amortised cost 80,182 2,471 1,676 (2,284 ) (208 ) (247 ) 2.8 8.4 14.7 – personal 15,751 1,804 1,289 (1,336 ) (178 ) (217 ) 8.5 9.9 16.8 – corporate and commercial 59,599 657 385 (920 ) (30 ) (30 ) 1.5 4.6 7.8 – non-bank financial institutions 4,832 10 2 (28 ) — — 0.6 — — Loans and advances to banks at amortised cost 1,450 — — (2 ) — — 0.1 — — Other financial assets measured at amortised cost 1,827 14 30 (38 ) — — 2.1 — — 1 Days past due (‘DPD’). Up to date accounts in stage 2 are not shown in amounts. Summary of credit risk (excluding debt instruments measured at FVOCI) by stage distribution and ECL coverage by industry sector at 31 December 2018 3 (continued) (Audited) Gross carrying/nominal amount 1 Allowance for ECL ECL coverage % Stage 1 Stage 2 Stage 3 POCI 2 Total Stage 1 Stage 2 Stage 3 POCI 2 Total Stage 1 Stage 2 Stage 3 POCI 2 Total $m $m $m $m $m $m $m $m $m $m % % % % % Loans and advances to customers at amortised cost 908,393 68,581 13,023 324 990,321 (1,276 ) (2,108 ) (5,047 ) (194 ) (8,625 ) 0.1 3.1 38.8 59.9 0.9 – personal 374,681 15,075 4,581 — 394,337 (534 ) (1,265 ) (1,148 ) — (2,947 ) 0.1 8.4 25.1 — 0.7 – corporate and commercial 474,700 51,341 8,212 324 534,577 (698 ) (812 ) (3,848 ) (194 ) (5,552 ) 0.1 1.6 46.9 59.9 1.0 – non-bank financial institutions 59,012 2,165 230 — 61,407 (44 ) (31 ) (51 ) — (126 ) 0.1 1.4 22.2 — 0.2 Loans and advances to banks at amortised cost 71,873 307 — — 72,180 (11 ) (2 ) — — (13 ) — 0.7 — — — Other financial assets measured at amortised cost 581,118 1,673 126 — 582,917 (27 ) (6 ) (22 ) — (55 ) — 0.4 17.5 — — Loan and other credit-related commitments 567,232 23,857 912 7 592,008 (143 ) (139 ) (43 ) — (325 ) — 0.6 4.7 — 0.1 – personal 205,183 1,760 408 — 207,351 (12 ) (1 ) — — (13 ) — 0.1 — — — – corporate and commercial 249,587 20,925 503 7 271,022 (126 ) (136 ) (43 ) — (305 ) 0.1 0.6 8.5 — 0.1 – financial 112,462 1,172 1 — 113,635 (5 ) (2 ) — — (7 ) — 0.2 — — — Financial guarantees 20,834 2,384 297 3 23,518 (19 ) (29 ) (45 ) — (93 ) 0.1 1.2 15.2 — 0.4 – personal 920 3 4 — 927 (1 ) — — — (1 ) 0.1 — — — 0.1 – corporate and commercial 14,963 2,101 288 3 17,355 (16 ) (25 ) (44 ) — (85 ) 0.1 1.2 15.3 — 0.5 – financial 4,951 280 5 — 5,236 (2 ) (4 ) (1 ) — (7 ) — 1.4 20.0 — 0.1 At 31 Dec 2018 2,149,450 96,802 14,358 334 2,260,944 (1,476 ) (2,284 ) (5,157 ) (194 ) (9,111 ) 0.1 2.4 35.9 58.1 0.4 Distribution of financial instruments by credit quality at 31 December 2019 (Audited) Gross carrying/notional amount Allowance for ECL/other credit provisions Net Strong Good Satisfactory Sub-standard Credit impaired Total $m $m $m $m $m $m $m $m In-scope for IFRS 9 Loans and advances to customers held at amortised cost 524,889 258,402 228,485 20,007 13,692 1,045,475 (8,732 ) 1,036,743 – personal 354,461 45,037 27,636 2,286 4,851 434,271 (3,134 ) 431,137 – corporate and commercial 138,126 190,470 186,383 16,891 8,629 540,499 (5,438 ) 535,061 – non-bank financial institutions 32,302 22,895 14,466 830 212 70,705 (160 ) 70,545 Loans and advances to banks held at amortised cost 60,636 5,329 1,859 1,395 — 69,219 (16 ) 69,203 Cash and balances at central banks 151,788 1,398 915 — — 154,101 (2 ) 154,099 Items in the course of collection from other banks 4,935 18 3 — — 4,956 — 4,956 Hong Kong Government certificates of indebtedness 38,380 — — — — 38,380 — 38,380 Reverse repurchase agreements – non-trading 193,157 37,947 9,621 137 — 240,862 — 240,862 Financial investments 78,318 6,503 906 61 — 85,788 (53 ) 85,735 Prepayments, accrued income and other assets 70,675 8,638 11,321 306 152 91,092 (63 ) 91,029 – endorsements and acceptances 1,133 4,651 4,196 230 4 10,214 (16 ) 10,198 – accrued income and other 69,542 3,987 7,125 76 148 80,878 (47 ) 80,831 Debt instruments measured at fair value through other comprehensive income 1 333,158 10,966 7,222 544 1 351,891 (166 ) 351,725 Out-of-scope for IFRS 9 Trading assets 135,059 15,240 22,964 2,181 — 175,444 — 175,444 Other financial assets designated and otherwise mandatorily measured at fair value through profit or loss 4,655 1,391 5,584 139 — 11,769 — 11,769 Derivatives 187,636 42,642 11,894 821 2 242,995 — 242,995 Total gross carrying amount on balance sheet 1,783,286 388,474 300,774 25,591 13,847 2,511,972 (9,032 ) 2,502,940 Percentage of total credit quality 70.9% 15.5% 12.0% 1.0% 0.6% 100% Loan and other credit-related commitments 369,424 146,988 77,499 5,338 780 600,029 (329 ) 599,700 Financial guarantees 7,441 6,033 5,539 1,011 190 20,214 (48 ) 20,166 In-scope: Irrevocable loan commitments and financial guarantees 376,865 153,021 83,038 6,349 970 620,243 (377 ) 619,866 Loan and other credit-related commitments 2 66,148 69,890 58,754 2,605 182 197,579 — 197,579 Performance and other guarantees 30,099 23,335 20,062 2,057 380 75,933 (132 ) 75,801 Out-of-scope: Revocable loan commitments and non-financial guarantees 96,247 93,225 78,816 4,662 562 273,512 (132 ) 273,380 Distribution of financial instruments by credit quality at 31 December 2018 (continued) (Audited) Gross carrying/notional amount Allowance for ECL/other credit provisions Net Strong Good Satisfactory Sub- standard Credit impaired Total $m $m $m $m $m $m $m $m In-scope for IFRS 9 Loans and advances to customers held at amortised cost 485,451 244,199 230,357 16,993 13,321 990,321 (8,625 ) 981,696 – personal 316,616 43,764 27,194 2,182 4,581 394,337 (2,947 ) 391,390 – corporate and commercial 140,387 181,984 189,357 14,339 8,510 534,577 (5,552 ) 529,025 – non-bank financial institutions 28,448 18,451 13,806 472 230 61,407 (126 ) 61,281 Loans and advances to banks held at amortised cost 60,249 7,371 4,549 11 — 72,180 (13 ) 72,167 Cash and balances at central banks 160,995 1,508 324 18 — 162,845 (2 ) 162,843 Items in the course of collection from other banks 5,765 21 1 — — 5,787 — 5,787 Hong Kong Government certificates of indebtedness 35,859 — — — — 35,859 — 35,859 Reverse repurchase agreements – non-trading 200,774 29,423 12,607 — — 242,804 — 242,804 Financial investments 56,031 5,703 949 1 — 62,684 (18 ) 62,666 Prepayments, accrued income and other assets 55,424 8,069 9,138 181 126 72,938 (35 ) 72,903 – endorsements and acceptances 1,514 4,358 3,604 155 3 9,634 (11 ) 9,623 – accrued income and other 53,910 3,711 5,534 26 123 63,304 (24 ) 63,280 Debt instruments measured at fair value through other comprehensive income 1 319,632 12,454 7,210 2,558 12 341,866 (84 ) 341,782 Out-of-scope for IFRS 9 Trading assets 139,484 18,888 16,991 1,871 — 177,234 — 177,234 Other financial assets designated and otherwise mandatorily measured at fair value through profit or loss 6,079 2,163 6,683 9 — 14,934 — 14,934 Derivatives 169,121 31,225 6,813 625 41 207,825 — 207,825 Total gross carrying amount on balance sheet 1,694,864 361,024 295,622 22,267 13,500 2,387,277 (8,777 ) 2,378,500 Percentage of total credit quality 71% 15.1% 12.4% 0.9% 0.6% 100% Loan and other credit-related commitments 373,302 137,076 75,478 5,233 919 592,008 (325 ) 591,683 Financial guarantees 9,716 7,400 5,505 597 300 23,518 (93 ) 23,425 In-scope: Irrevocable loan commitments and financial guarantees 383,018 144,476 80,983 5,830 1,219 615,526 (418 ) 615,108 Loan and other credit-related commitments 2 188,258 — — — — 188,258 — 188,258 Performance and other guarantees 26,679 25,743 16,790 1,869 403 71,484 (99 ) 71,385 Out-of-scope: Revocable loan commitments and non-financial guarantees 214,937 25,743 16,790 1,869 403 259,742 (99 ) 259,643 1 For the purposes of this disclosure, gross carrying value is defined as the amortised cost of a financial asset before adjusting for any loss allowance. As such, the gross carrying value of debt instruments at FVOCI as presented above will not reconcile to the balance sheet as it excludes fair value gains and losses. 2 In 2018, revocable loan and other commitments, which are out of scope of IFRS 9, are presented within the ‘Strong’ classification. Distribution of financial instruments to which the impairment requirements in IFRS 9 are applied, by credit quality and stage allocation (Audited) Gross carrying/notional amount Allowance for ECL Net Strong Good Satisfactory Sub- Credit impaired Total Footnotes $m $m $m $m $m $m $m $m Loans and advances to customers at amortised cost 524,889 258,402 228,485 20,007 13,692 1,045,475 (8,732 ) 1,036,743 – stage 1 523,092 242,631 181,056 4,804 — 951,583 (1,297 ) 950,286 – stage 2 1,797 15,771 47,429 15,185 — 80,182 (2,284 ) 77,898 – stage 3 — — — — 13,378 13,378 (5,052 ) 8,326 – POCI — — — 18 314 332 (99 ) 233 Loans and advances to banks at amortised cost 60,636 5,329 1,859 1,395 — 69,219 (16 ) 69,203 – stage 1 60,548 5,312 1,797 112 — 67,769 (14 ) 67,755 – stage 2 88 17 62 1,283 — 1,450 (2 ) 1,448 – stage 3 — — — — — — — — – POCI — — — — — — — — Other financial assets measured at amortised cost 537,253 54,505 22,766 503 152 615,179 (118 ) 615,061 – stage 1 536,942 54,058 21,921 279 — 613,200 (38 ) 613,162 – stage 2 311 447 845 224 — 1,827 (38 ) 1,789 – stage 3 — — — — 151 151 (42 ) 109 – POCI — — — — 1 1 — 1 Loan and other credit-related commitments 369,424 146,988 77,499 5,338 780 600,029 (329 ) 599,700 – stage 1 368,711 141,322 66,283 1,315 — 577,631 (137 ) 577,494 – stage 2 713 5,666 11,216 4,023 — 21,618 (133 ) 21,485 – stage 3 — — — — 771 771 (59 ) 712 – POCI — — — — 9 9 — 9 Financial guarantees 7,441 6,033 5,539 1,011 190 20,214 (48 ) 20,166 – stage 1 7,400 5,746 4,200 338 — 17,684 (16 ) 17,668 – stage 2 41 287 1,339 673 — 2,340 (22 ) 2,318 – stage 3 — — — — 186 186 (10 ) 176 – POCI — — — — 4 4 — 4 At 31 Dec 2019 1,499,643 471,257 336,148 28,254 14,814 2,350,116 (9,243 ) 2,340,873 Debt instruments at FVOCI 1 – stage 1 333,072 10,941 6,902 — — 350,915 (39 ) 350,876 – stage 2 86 25 320 544 — 975 (127 ) 848 – stage 3 — — — — — — — — – POCI — — — — 1 1 — 1 At 31 Dec 2019 333,158 10,966 7,222 544 1 351,891 (166 ) 351,725 1 For the purposes of this disclosure, gross carrying value is defined as the amortised cost of a financial asset before adjusting for any loss allowance. As such, the gross carrying value of debt instruments at FVOCI as presented above will not reconcile to the balance sheet as it excludes fair value gains and losses. Distribution of financial instruments to which the impairment requirements in IFRS 9 are applied, by credit quality and stage allocation 2 (continued) (Audited) Gross carrying/notional amount Strong Good Satisfactory Sub-standard Credit impaired Total Allowance for ECL Net Footnotes $m $m $m $m $m $m $m $m Loans and advances to customers at amortised cost 485,451 244,199 230,357 16,993 13,321 990,321 (8,625 ) 981,696 – stage 1 483,170 232,004 187,773 5,446 — 908,393 (1,276 ) 907,117 – stage 2 2,281 12,195 42,584 11,521 — 68,581 (2,108 ) 66,473 – stage 3 — — — — 13,023 13,023 (5,047 ) 7,976 – POCI — — — 26 298 324 (194 ) 130 Loans and advances to banks at amortised cost 60,249 7,371 4,549 11 — 72,180 (13 ) 72,167 – stage 1 60,199 7,250 4,413 11 — 71,873 (11 ) 71,862 – stage 2 50 121 136 — — 307 (2 ) 305 – stage 3 — — — — — — — — – POCI — — — — — — — — Other financial assets measured at amortised cost 514,848 44,724 23,019 200 126 582,917 (55 ) 582,862 – stage 1 514,525 44,339 22,184 70 — 581,118 (27 ) 581,091 – stage 2 323 385 835 130 — 1,673 (6 ) 1,667 – stage 3 — — — — 126 126 (22 ) 104 – POCI — — — — — — — — Loan and other credit-related commitments 373,302 137,076 75,478 5,233 919 592,008 (325 ) 591,683 – stage 1 372,529 131,278 62,452 973 — 567,232 (143 ) 567,089 – stage 2 773 5,798 13,026 4,260 — 23,857 (139 ) 23,718 – stage 3 — — — — 912 912 (43 ) 869 – POCI — — — — 7 7 — 7 Financial guarantees 9,716 7,400 5,505 597 300 23,518 (93 ) 23,425 – stage 1 9,582 6,863 4,231 158 — 20,834 (19 ) 20,815 – stage 2 134 537 1,274 439 — 2,384 (29 ) 2,355 – stage 3 — — — — 297 297 (45 ) 252 – POCI — — — — 3 3 — 3 At 31 Dec 2018 1,443,566 440,770 338,908 23,034 14,666 2,260,944 (9,111 ) 2,251,833 Debt instruments at FVOCI 1 — – stage 1 319,623 12,358 6,856 2,218 — 341,055 (33 ) 341,022 – stage 2 9 96 354 340 — 799 (50 ) 749 – stage 3 — — — — 8 8 (1 ) 7 – POCI — — — — 4 4 — 4 At 31 Dec 2018 319,632 12,454 7,210 2,558 12 341,866 (84 ) 341,782 1 For the purposes of this disclosure, gross carrying value is defined as the amortised cost of a financial asset before adjusting for any loss allowance. As such, the gross carrying value of debt instruments at FVOCI as presented above will not reconcile to the balance sheet as it excludes fair value gains and losses. 2 During the period, the Group has re-presented the UK wholesale lending stage 1 and stage 2 amount. For further details, see page 122 . |
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments | Reconciliation of changes in gross carrying/nominal amount and allowances for loans and advances to banks and customers including (Audited) Non-credit impaired Credit impaired Stage 1 Stage 2 Stage 3 POCI Total Gross carrying/ nominal amount Allowance for ECL Gross carrying/ nominal amount Allowance for ECL Gross carrying/ nominal amount Allowance for ECL Gross carrying/ nominal amount Allowance for ECL Gross carrying/ nominal amount Allowance for ECL $m $m $m $m $m $m $m $m $m $m At 1 Jan 2019 1,502,976 (1,449 ) 95,104 (2,278 ) 14,232 (5,135 ) 334 (194 ) 1,612,646 (9,056 ) Transfers of financial instruments: (36,244 ) (543 ) 31,063 1,134 5,181 (591 ) — — — — – transfers from stage 1 to stage 2 (108,434 ) 487 108,434 (487 ) — — — — — — – transfers from stage 2 to stage 1 73,086 (1,044 ) (73,086 ) 1,044 — — — — — — – transfers to stage 3 (1,284 ) 59 (5,022 ) 665 6,306 (724 ) — — — — – transfers from stage 3 388 (45 ) 737 (88 ) (1,125 ) 133 — — — — Net remeasurement of ECL arising from transfer of stage — 669 — (676 ) — (114 ) — — — (121 ) New financial assets originated or purchased 504,064 (534 ) — — — — 135 (21 ) 504,199 (555 ) Assets derecognised (including final repayments) (352,961 ) 112 (19,909 ) 553 (2,712 ) 656 (26 ) 8 (375,608 ) 1,329 Changes to risk parameters – further lending/repayment (72,239 ) 291 (2,560 ) 67 402 (6 ) 28 12 (74,369 ) 364 Changes to risk parameters – credit quality — 2 — (1,208 ) — (2,704 ) — (51 ) — (3,961 ) Changes to models used for ECL calculation — (6 ) — 4 — 14 — — — 12 Assets written off — — — — (2,657 ) 2,657 (140 ) 140 (2,797 ) 2,797 Credit-related modifications that resulted in derecognition — — — — (268 ) 125 — — (268 ) 125 Foreign exchange 16,838 (9 ) 1,201 (40 ) 160 (31 ) 1 1 18,200 (79 ) Others (821 ) 3 652 3 (3 ) 8 13 6 (159 ) 20 At 31 Dec 2019 1,561,613 (1,464 ) 105,551 (2,441 ) 14,335 (5,121 ) 345 (99 ) 1,681,844 (9,125 ) ECL income statement change for the period 534 (1,260 ) (2,154 ) (52 ) (2,932 ) Recoveries 361 Others (20 ) Total ECL income statement change for the period (2,591 ) At 31 Dec 2019 12 months ended 31 Dec 2019 Gross carrying/nominal amount Allowance for ECL ECL charge $m $m $m As above 1,681,844 (9,125 ) (2,591 ) Other financial assets measured at amortised cost 615,179 (118 ) (26 ) Non-trading reverse purchase agreement commitments 53,093 — — Performance and other guarantees not considered for IFRS 9 — — (34 ) Summary of financial instruments to which the impairment requirements in IFRS 9 are applied/Summary consolidated income statement 2,350,116 (9,243 ) (2,651 ) Debt instruments measured at FVOCI 355,664 (166 ) (105 ) Total allowance for ECL/total income statement ECL change for the period n/a (9,409 ) (2,756 ) Reconciliation of changes in gross carrying/nominal amount and allowances for loans and advances to banks and customers including loan commitments and financial guarantees 1,2 (Audited) Non-credit impaired Credit impaired Total Stage 1 Stage 2 Stage 3 POCI Gross exposure Allowance/ provision for ECL Gross exposure Allowance/ provision for ECL Gross exposure Allowance/ provision for ECL Gross exposure Allowance/ provision for ECL Gross exposure Allowance/ provision for ECL $m $m $m $m $m $m $m $m $m $m At 1 Jan 2018 1,446,857 (1,469 ) 102,032 (2,406 ) 15,083 (5,722 ) 1,042 (242 ) 1,565,014 (9,839 ) Transfers of financial instruments: (8,747 ) (685 ) 3,582 1,185 5,165 (500 ) — — — — – transfers from stage 1 to stage 2 (84,181 ) 319 84,181 (319 ) — — — — — — – transfers from stage 2 to stage 1 77,325 (999 ) (77,325 ) 999 — — — — — — – transfers to stage 3 (2,250 ) 35 (4,439 ) 607 6,689 (642 ) — — — — – transfers from stage 3 359 (40 ) 1,165 (102 ) (1,524 ) 142 — — — — Net remeasurement of ECL arising from transfer of stage — 620 — (605 ) — (103 ) — — — (88 ) Net new lending and further lending/payments 126,868 (512 ) (16,162 ) 564 (2,902 ) 733 (587 ) 42 107,217 827 Changes to risk parameters – credit quality — 423 — (1,087 ) — (2,238 ) — (51 ) — (2,953 ) Changes to models used for ECL calculation — — — — — — — — — — Assets written off — — — — (2,568 ) 2,552 (1 ) 1 (2,569 ) 2,553 Foreign exchange (52,911 ) 76 (2,935 ) 99 (636 ) 232 (26 ) 6 (56,508 ) 413 Other (9,091 ) 98 8,587 (28 ) 90 (89 ) (94 ) 50 (508 ) 31 At 31 Dec 2018 1,502,976 (1,449 ) 95,104 (2,278 ) 14,232 (5,135 ) 334 (194 ) 1,612,646 (9,056 ) ECL income statement change for the period 531 (1,128 ) (1,608 ) (9 ) (2,214 ) Recoveries 408 Others (62 ) Total ECL income statement change for the period (1,868 ) At 31 Dec 2018 12 months ended 31 Dec 2018 Gross carrying/nominal amount Allowance for ECL ECL charge $m $m $m As above 1,612,646 (9,056 ) (1,868 ) Other financial assets measured at amortised cost 582,917 (55 ) 21 Non-trading reverse purchase agreement commitments 65,381 — — Performance and other guarantees not considered for IFRS 9 — — (25 ) Summary of financial instruments to which the impairment requirements in IFRS 9 are applied/ Summary consolidated income statement 2,260,944 (9,111 ) (1,872 ) Debt instruments measured at FVOCI 343,110 (84 ) 105 Total allowance for ECL/total income statement ECL change for the period n/a (9,195 ) (1,767 ) 1 The 31 December 2018 comparative ‘Reconciliation of changes in gross carrying/nominal amount and allowances for loans and advances to banks and customers‘ disclosure presents ‘New financial assets originated or purchased’, ‘Assets derecognised (including final repayments)’ and ‘Changes to risk parameters – further lending/repayments’ under ‘Net new lending and further lending/repayments’. To provide greater granularity, these amounts have been separately presented in the 31 December 2019 disclosure. 2 During the period, the Group has re-presented the UK wholesale lending stage 1 and stage 2 amount for 31 December 2018 only. For further details, see page 122 . Wholesale lending – reconciliation of changes in gross carrying/nominal amount and allowances for loans and advances to banks and customers including loan commitments and financial guarantees 1 (Audited) Non-credit impaired Credit impaired Stage 1 Stage 2 Stage 3 POCI Total Gross carrying/ nominal amount Allowance for ECL Gross carrying/ nominal amount Allowance for ECL Gross carrying/ nominal amount Allowance for ECL Gross carrying/ nominal amount Allowance for ECL Gross carrying/ nominal amount Allowance for ECL $m $m $m $m $m $m $m $m $m $m At 1 Jan 2018 897,529 (873 ) 84,354 (1,249 ) 10,209 (4,410 ) 1,042 (242 ) 993,134 (6,774 ) Transfers of financial instruments (4,477 ) (274 ) 1,535 386 2,942 (112 ) — — — — Net remeasurement of ECL arising from transfer of stage — 262 — (231 ) — (92 ) — — — (61 ) Net new and further lending/repayments 74,107 (271 ) (13,709 ) 342 (2,414 ) 406 (587 ) 42 57,397 519 Changes to risk parameters – credit quality — 157 — (301 ) — (1,041 ) — (51 ) — (1,236 ) Assets written off — — — — (1,182 ) 1,172 (1 ) 1 (1,183 ) 1,173 Foreign exchange and other (44,967 ) 97 6,086 41 (316 ) 90 (120 ) 56 (39,317 ) 284 At 31 Dec 2018 922,192 (902 ) 78,266 (1,012 ) 9,239 (3,987 ) 334 (194 ) 1,010,031 (6,095 ) ECL income statement change for the period 148 (190 ) (727 ) (9 ) (778 ) Recoveries 118 Others (69 ) Total ECL income statement change for the period (729 ) 1 During the period, the Group has re-presented the UK wholesale lending stage 1 and stage 2 amount for 31 December 2018 only. For further details, see page 122 . Wholesale lending – reconciliation of changes in gross carrying/nominal amount and allowances for loans and advances to banks and customers including loan commitments and financial guarantees (Audited) Non-credit impaired Credit impaired Stage 1 Stage 2 Stage 3 POCI Total Gross carrying/ nominal amount Allowance for ECL Gross carrying/ nominal amount Allowance for ECL Gross carrying/ nominal amount Allowance for ECL Gross carrying/ nominal amount Allowance for ECL Gross carrying/ nominal amount Allowance for ECL $m $m $m $m $m $m $m $m $m $m At 1 Jan 2019 922,192 (902 ) 78,266 (1,012 ) 9,239 (3,987 ) 334 (194 ) 1,010,031 (6,095 ) Transfers of financial instruments (31,493 ) (169 ) 28,418 276 3,075 (107 ) — — — — Net remeasurement of ECL arising from transfer of stage — 223 — (268 ) — (38 ) — — — (83 ) Net new and further lending/ repayments 27,918 (134 ) (20,121 ) 167 (1,552 ) 369 137 (1 ) 6,382 401 Change in risk parameters – credit quality — 102 — (193 ) — (1,514 ) — (51 ) — (1,656 ) Changes to models used for ECL calculation — — — (56 ) — — — — — (56 ) Assets written off — — — — (1,312 ) 1,312 (140 ) 140 (1,452 ) 1,452 Credit-related modifications that resulted in derecognition — — — — (268 ) 125 — — (268 ) 125 Foreign exchange and other 7,035 13 1,606 (17 ) 107 (66 ) 14 7 8,762 (63 ) At 31 Dec 2019 925,652 (867 ) 88,169 (1,103 ) 9,289 (3,906 ) 345 (99 ) 1,023,455 (5,975 ) ECL income statement change for the period 191 (350 ) (1,183 ) (52 ) (1,394 ) Recoveries 47 Others (24 ) Total ECL income statement change for the period (1,371 ) Personal lending – reconciliation of changes in gross carrying/nominal amount and allowances for loans and advances to customers including loan commitments and financial guarantees (Audited) Non-credit impaired Credit impaired Stage 1 Stage 2 Stage 3 Total Gross carrying/ nominal amount Allowance for ECL Gross carrying/ nominal amount Allowance for ECL Gross carrying/ nominal amount Allowance for ECL Gross carrying/ nominal amount Allowance for ECL $m $m $m $m $m $m $m $m At 1 Jan 2019 580,784 (547 ) 16,838 (1,266 ) 4,993 (1,148 ) 602,615 (2,961 ) Transfers of financial instruments (4,751 ) (374 ) 2,645 858 2,106 (484 ) — — Net remeasurement of ECL arising from transfer of stage — 446 — (408 ) — (76 ) — (38 ) Net new and further lending/repayments 50,946 3 (2,348 ) 453 (758 ) 281 47,840 737 Change in risk parameters – credit quality — (100 ) — (1,015 ) — (1,190 ) — (2,305 ) Changes to models used for ECL calculation — (6 ) — 60 — 14 — 68 Assets written off — — — — (1,345 ) 1,345 (1,345 ) 1,345 Foreign exchange and other 8,982 (19 ) 247 (20 ) 50 43 9,279 4 At 31 Dec 2019 635,961 (597 ) 17,382 (1,338 ) 5,046 (1,215 ) 658,389 (3,150 ) ECL income statement change for the period 343 (910 ) (971 ) (1,538 ) Recoveries 314 Other 4 Total ECL income statement change for the period (1,220 ) Personal lending – reconciliation of changes in gross carrying/nominal amount and allowances for loans and advances to customers including loan commitments and financial guarantees (Audited) Non-credit impaired Credit impaired Stage 1 Stage 2 Stage 3 Total Gross carrying/ nominal amount Allowance for ECL Gross carrying/ nominal amount Allowance for ECL Gross carrying/ nominal amount Allowance for ECL Gross carrying/ nominal amount Allowance for ECL $m $m $m $m $m $m $m $m At 1 Jan 2018 549,328 (596 ) 17,678 (1,157 ) 4,874 (1,312 ) 571,880 (3,065 ) Transfers of financial instruments (4,270 ) (411 ) 2,047 799 2,223 (388 ) — — Net remeasurement of ECL arising from transfer of stage — 358 — (374 ) — (11 ) — (27 ) Net new and further lending/repayments 52,761 (241 ) (2,453 ) 222 (488 ) 327 49,820 308 Changes to risk parameters – credit quality — 266 — (786 ) — (1,197 ) — (1,717 ) Assets written off — — — — (1,386 ) 1,380 (1,386 ) 1,380 Foreign exchange and other (17,035 ) 77 (434 ) 30 (230 ) 53 (17,699 ) 160 At 31 Dec 2018 580,784 (547 ) 16,838 (1,266 ) 4,993 (1,148 ) 602,615 (2,961 ) ECL income statement change for the period 383 (938 ) (881 ) (1,436 ) Recoveries 290 Others (18 ) Total ECL income statement change for the period (1,164 ) |
Disclosure of financial assets and off-balance sheet commitments | Wholesale lending – commercial real estate loans and advances including loan commitments by level of collateral for key countries/territories (by stage) (Audited) Of which: Total UK Hong Kong US Gross carrying/nominal amount ECL coverage Gross carrying/nominal amount ECL coverage Gross carrying/nominal amount ECL coverage Gross carrying/nominal amount ECL coverage $m % $m % $m % $m % Stage 1 Not collateralised 61,820 0.1 7,266 0.1 32,478 — 541 — Fully collateralised 89,319 0.1 18,535 — 41,798 — 4,722 — LTV ratio: – less than 50% 46,318 0.1 7,018 0.1 28,776 — 1,703 0.1 – 51% to 75% 32,583 0.1 9,349 — 10,815 0.1 2,854 — – 76% to 90% 5,018 0.1 1,649 0.1 1,436 0.1 96 — – 91% to 100% 5,400 0.2 519 — 771 — 69 — Partially collateralised (A): 6,563 0.2 682 — 1,627 0.1 — — – collateral value on A 3,602 535 1,142 — Total 157,702 0.1 26,483 0.1 75,903 — 5,263 — Stage 2 Not collateralised 3,040 1.2 1,857 1.2 440 0.2 — — Fully collateralised 5,184 1.1 1,419 1.2 1,501 0.6 354 1.4 LTV ratio: – less than 50% 2,167 1.1 615 1.8 955 0.3 62 — – 51% to 75% 1,986 0.9 712 0.6 497 1.0 292 1.4 – 76% to 90% 333 2.1 16 6.3 29 — — — – 91% to 100% 698 1.1 76 1.3 20 — — — Partially collateralised (B): 500 0.6 296 0.3 42 — — — – collateral value on B 203 56 25 — Total 8,724 1.1 3,572 1.1 1,983 0.5 354 — Stage 3 Not collateralised 315 57.8 66 92.4 — — — — Fully collateralised 557 14.9 404 12.9 17 11.8 — — LTV ratio: – less than 50% 87 16.1 42 7.1 6 16.7 — — – 51% to 75% 90 7.8 69 4.3 10 — — — – 76% to 90% 89 15.7 72 4.2 — — — — – 91% to 100% 291 16.5 221 19.5 1 — — — Partially collateralised (C): 773 41.5 507 27.8 — — — — – collateral value on C 380 166 — — Total 1,645 35.6 977 26.0 17 11.8 — — POCI Not collateralised — — — — — — — — Fully collateralised 1 — — — — — — — LTV ratio: – less than 50% 1 — — — — — — — – 51% to 75% — — — — — — — — – 76% to 90% — — — — — — — — – 91% to 100% — — — — — — — — Partially collateralised (D): — — — — — — — — – collateral value on D — — — — Total 1 — — — — — — — At 31 Dec 2019 168,072 0.5 31,032 1.0 77,903 0.1 5,617 0.1 Wholesale lending – commercial real estate loans and advances including loan commitments by level of collateral for key countries/territories (by stage) 1 (continued) Of which: Total UK Hong Kong US Gross carrying/nominal amount ECL coverage Gross carrying/nominal amount ECL coverage Gross carrying/nominal amount ECL coverage Gross carrying/nominal amount ECL coverage $m % $m % $m % $m % Stage 1 Not collateralised 61,486 0.1 9,920 0.2 31,224 — — — Fully collateralised 86,960 0.1 17,196 0.1 39,174 — 4,862 — LTV ratio: – less than 50% 46,650 0.1 7,673 0.1 25,870 — 3,463 — – 51% to 75% 29,384 0.1 7,937 0.1 10,452 0.1 787 — – 76% to 90% 5,167 0.1 1,038 — 1,168 0.1 519 — – 91% to 100% 5,759 0.2 548 0.2 1,684 0.1 93 — Partially collateralised (A): 6,101 0.1 487 0.2 2,130 — — — – collateral value on A 3,735 285 1,401 — Total 154,547 0.1 27,603 0.1 72,528 — 4,862 — Stage 2 Not collateralised 2,886 0.9 1,083 1.0 1,140 0.2 — — Fully collateralised 5,309 1.1 1,352 2.6 1,576 0.4 439 0.5 LTV ratio: – less than 50% 2,372 0.9 727 1.9 795 0.4 303 0.7 – 51% to 75% 1,667 0.7 567 0.7 505 0.4 7 — – 76% to 90% 363 5.0 34 44.1 29 — 129 — – 91% to 100% 907 1.0 24 8.3 247 — — — Partially collateralised (B): 289 1.4 52 5.8 15 — — — – collateral value on B 156 20 5 — Total 8,484 1.1 2,487 2.0 2,731 0.3 439 0.5 Stage 3 Not collateralised 338 57.1 61 85.2 — — — — Fully collateralised 606 12.7 433 9.2 12 — — — LTV ratio: – less than 50% 412 10.0 304 9.2 2 — — — – 51% to 75% 88 27.3 58 6.9 10 — — — – 76% to 90% 38 2.6 35 5.7 — — — — – 91% to 100% 68 16.2 36 16.7 — — — — Partially collateralised (C): 474 56.5 261 42.9 — — — — – collateral value on C 321 137 — — Total 1,418 37.9 755 27.0 12 — — — POCI Not collateralised — — — — — — — — Fully collateralised 15 53.3 — — — — — — LTV ratio: – less than 50% 13 61.5 — — — — — — – 51% to 75% 2 — — — — — — — – 76% to 90% — — — — — — — — – 91% to 100% — — — — — — — — Partially collateralised (D): — — — — — — — — – collateral value on D — — — — Total 15 53.3 — — — — — — At 31 Dec 2018 164,464 0.5 30,845 0.9 75,271 — 5,301 0.1 1 During the period, the Group has re-presented the UK wholesale lending stage 1 and stage 2 amount. For further details, see page 122 . Wholesale lending – commercial real estate loans and advances including loan commitments by level of collateral for key countries/territories (Audited) Of which: Total UK Hong Kong US Gross carrying/nominal amount ECL coverage Gross carrying/nominal amount ECL coverage Gross carrying/nominal amount ECL coverage Gross carrying/nominal amount ECL coverage $m % $m % $m % $m % Rated CRR/PD1 to 7 Not collateralised 64,850 0.1 9,119 0.3 32,918 — 541 — Fully collateralised 94,299 0.1 19,833 0.1 43,299 0.1 5,021 0.1 Partially collateralised (A): 7,052 0.2 971 0.1 1,669 0.1 — — – collateral value on A 3,796 586 1,167 — Total 166,201 0.1 29,923 0.1 77,886 — 5,562 0.1 Rated CRR/PD8 Not collateralised 10 50.0 4 100.0 — — — — Fully collateralised 204 4.9 121 5.0 — — 55 3.6 LTV ratio: – less than 50% 47 8.5 27 14.8 — — 13 — – 51% to 75% 120 3.3 68 1.5 — — 42 4.8 – 76% to 90% 25 4.0 15 6.7 — — — — – 91% to 100% 12 8.3 11 — — — — — Partially collateralised (B): 11 — 7 — — — — — – collateral value on B 9 5 — — Total 225 6.7 132 7.6 — — 55 3.6 Rated CRR/PD9 to 10 Not collateralised 315 57.8 66 92.4 — — — — Fully collateralised 557 14.9 404 12.9 17 11.8 — — LTV ratio: – less than 50% 87 16.1 42 7.1 6 16.7 — — – 51% to 75% 90 7.8 69 4.3 10 — — — – 76% to 90% 89 15.7 72 4.2 — — — — – 91% to 100% 291 16.5 221 19.5 1 100.0 — — Partially collateralised (C): 774 41.6 507 27.8 — — — — – collateral value on C 380 166 — — Total 1,646 35.7 977 26.0 17 11.8 — — At 31 Dec 2019 168,072 0.5 31,032 1.0 77,903 0.1 5,617 0.1 Rated CRR/PD1 to 7 Not collateralised 64,324 0.1 11,001 0.2 32,364 — — — Fully collateralised 91,791 0.1 18,112 0.2 40,747 0.1 5,282 0.1 Partially collateralised (A): 6,377 0.2 532 0.6 2,145 — — — – collateral value on A 3,879 299 1,406 — Total 162,492 0.1 29,645 0.3 75,256 — 5,282 0.1 Rated CRR/PD8 Not collateralised 49 2.0 2 — — — — — Fully collateralised 477 1.5 435 1.1 3 33.3 19 — LTV ratio: – less than 50% 178 1.7 149 1.3 3 33.3 19 — – 51% to 75% 269 0.4 265 0.4 — — — — – 76% to 90% 13 7.7 7 14.3 — — — — – 91% to 100% 17 11.8 14 14.3 — — — — Partially collateralised (B): 13 7.7 8 12.5 — — — — – collateral value on B 12 6 — — Total 539 1.7 445 1.3 3 33.3 19 — Rated CRR/PD9 to 10 Not collateralised 338 57.1 61 85.2 — — — — Fully collateralised 621 13.5 433 9.2 12 — — — LTV ratio: – less than 50% 425 11.5 304 9.2 2 — — — – 51% to 75% 90 26.7 58 6.9 10 — — — – 76% to 90% 38 2.6 35 5.7 — — — — – 91% to 100% 68 16.2 36 16.7 — — — — Partially collateralised (C): 474 56.5 261 42.9 — — — — – collateral value on C 321 137 — — Total 1,433 38.0 755 27.0 12 — — — At 31 Dec 2018 164,464 0.5 30,845 0.9 75,271 — 5,301 0.1 Wholesale lending – other corporate, commercial and financial (non-bank) loans and advances including loan commitments by level of collateral for key countries/territories (by stage) (Audited) Of which: Total UK Hong Kong US Gross carrying/nominal amount ECL coverage Gross carrying/nominal amount ECL coverage Gross carrying/nominal amount ECL coverage Gross carrying/nominal amount ECL coverage $m % $m % $m % $m % Stage 1 Not collateralised 680,079 0.1 132,197 0.2 116,536 — 112,911 — Fully collateralised 128,290 0.1 40,172 0.1 32,818 0.1 14,830 — LTV ratio: – less than 50% 48,012 0.1 13,831 0.1 11,009 0.1 5,326 — – 51% to 75% 37,891 0.1 11,903 0.2 12,783 0.1 3,717 0.1 – 76% to 90% 13,072 0.1 3,399 0.2 4,697 0.1 130 — – 91% to 100% 29,315 — 11,039 — 4,329 0.1 5,657 — Partially collateralised (A): 52,890 0.1 8,122 0.1 20,162 0.1 1,629 — – collateral value on A 25,824 3,809 9,616 1,337 Total 861,259 0.1 180,491 0.2 169,516 — 129,370 — Stage 2 Not collateralised 61,540 1.2 13,318 2.2 13,308 0.7 10,129 0.9 Fully collateralised 21,126 0.8 3,139 1.8 12,934 0.6 868 0.8 LTV ratio: – less than 50% 7,081 0.9 1,208 2.0 3,845 0.6 303 0.3 – 51% to 75% 8,482 0.9 1,111 1.8 5,580 0.7 465 1.1 – 76% to 90% 2,684 0.9 282 2.1 1,646 0.5 47 2.1 – 91% to 100% 2,879 0.6 538 1.3 1,863 0.2 53 — Partially collateralised (B): 8,463 0.8 1,516 1.4 3,768 0.4 124 1.6 – collateral value on B 3,669 370 1,801 53 Total 91,129 1.1 17,973 2.1 30,010 0.6 11,121 0.9 Stage 3 Not collateralised 4,768 49.2 1,899 33.0 504 83.5 2 50.0 Fully collateralised 1,479 22.4 494 12.6 86 12.8 214 — LTV ratio: – less than 50% 335 35.2 103 17.5 9 33.3 2 — – 51% to 75% 352 24.4 198 8.6 21 4.8 — — – 76% to 90% 373 23.6 101 20.8 40 7.5 — — – 91% to 100% 419 9.1 92 7.6 16 25.0 212 — Partially collateralised (C): 1,367 44.8 369 20.1 87 48.3 92 44.6 – collateral value on C 693 192 34 65 Total 7,614 43.2 2,762 27.6 677 70.0 308 13.6 POCI Not collateralised 223 32.7 32 96.9 7 — — — Fully collateralised 28 3.6 — — 10 — — — LTV ratio: – less than 50% 2 50.0 — — — — — — – 51% to 75% 26 — — — 10 — — — – 76% to 90% — — — — — — — — – 91% to 100% — — — — — — — — Partially collateralised (D): 97 33.0 57 1.8 31 90.3 — — – collateral value on D 57 19 30 — Total 348 30.5 89 36.0 48 58.3 — — At 31 Dec 2019 960,350 0.5 201,315 0.7 200,251 0.4 140,799 0.1 Wholesale lending – other corporate, commercial and financial (non-bank) loans and advances including loan commitments by level of collateral for key countries/territories (by stage) 1,2 (continued) (Audited) Of which: Total UK Hong Kong US Gross carrying/nominal amount ECL coverage Gross carrying/nominal amount ECL coverage Gross carrying/nominal amount ECL coverage Gross carrying/nominal amount ECL coverage $m % $m % $m % $m % Stage 1 Not collateralised 673,589 0.1 137,269 0.2 122,259 — 116,001 — Fully collateralised 127,443 0.1 30,492 0.1 36,730 0.1 11,229 0.1 LTV ratio: – less than 50% 39,509 0.1 8,519 0.2 12,032 0.1 4,686 — – 51% to 75% 49,518 0.1 9,275 0.2 14,264 0.1 2,424 — – 76% to 90% 12,627 0.1 3,201 0.2 4,567 0.1 318 — – 91% to 100% 25,789 0.1 9,497 — 5,867 0.1 3,801 — Partially collateralised (A): 54,412 0.1 6,668 0.2 21,942 — 1,875 — – collateral value on A 23,857 3,250 10,263 912 Total 855,444 0.1 174,429 0.2 180,931 — 129,105 — Stage 2 Not collateralised 61,464 1.1 21,035 1.7 6,212 0.4 10,085 1.2 Fully collateralised 13,633 1.2 5,645 1.5 3,378 0.5 1,131 9.3 LTV ratio: – less than 50% 5,109 1.1 2,047 1.7 1,421 0.4 342 0.6 – 51% to 75% 4,950 1.3 2,154 1.8 1,290 0.6 467 0.6 – 76% to 90% 1,399 1.8 496 1.2 391 0.5 85 1.2 – 91% to 100% 2,175 0.8 948 0.4 276 0.4 237 1.7 Partially collateralised (B): 6,623 0.7 1,793 1.2 2,287 0.3 63 1.6 – collateral value on B 2,324 339 971 16 Total 81,720 1.1 28,473 1.6 11,877 0.4 11,279 1.1 Stage 3 Not collateralised 5,240 50.2 1,882 38.8 478 81.2 1 100.0 Fully collateralised 1,460 22.9 517 6.2 146 — 130 13.8 LTV ratio: – less than 50% 361 36.0 133 10.5 11 — 4 — – 51% to 75% 328 9.8 179 1.7 62 — — — – 76% to 90% 427 24.6 131 13.7 32 — — — – 91% to 100% 344 19.8 74 8.1 41 — 126 — Partially collateralised (C): 1,147 43.1 228 21.1 158 15.2 71 31.0 – collateral value on C 580 132 38 55 Total 7,847 44.1 2,627 31.2 782 52.7 202 10.9 POCI Not collateralised 232 66.8 — — 25 20.0 — — Fully collateralised 37 2.7 — — 9 — — — LTV ratio: – less than 50% 1 — — — — — — — – 51% to 75% — — — — — — — — – 76% to 90% 22 — — — — — — — – 91% to 100% 14 — — — 9 — — — Partially collateralised (D): 49 63.3 8 — 35 85.7 — — – collateral value on D 38 3 34 — Total 318 59.2 8 — 69 50.7 — — At 31 Dec 2018 945,329 0.6 205,537 0.8 193,659 0.3 140,586 0.1 1 During the period, the Group has re-presented the UK wholesale lending stage 1 and stage 2 amount. For further details, see page 122 . 2 The 2018 comparative amounts have been re-presented to reclassify amounts from fully collateralised to not collateralised and to include not collateralised amounts previously excluded. The impact of these re-presentations is to increase stage 1 not collateralised amounts by $130b n and decrease fully collateralised amounts by $105b n; increase stage 2 not collateralised amounts by $14b n and decrease fully collateralised amounts by $12b n; and to increase stage 3 not collateralised amounts by $0.3b n and decrease fully collateralised amounts by $0.1b n. Wholesale lending – other corporate, commercial and financial (non-bank) loans and advances including loan commitments by level of collateral for key countries/territories (Audited) Of which: Total UK Hong Kong US Gross carrying/nominal amount ECL coverage Gross carrying/nominal amount ECL coverage Gross carrying/nominal amount ECL coverage Gross carrying/nominal amount ECL coverage $m % $m % $m % $m % Rated CRR/PD8 Not collateralised 2,499 5.8 285 13.0 10 70.0 1,645 3.3 Fully collateralised 694 3.3 382 2.6 — — 166 1.2 LTV ratio: – less than 50% 246 2.8 120 1.7 — — 85 1.2 – 51% to 75% 189 4.2 93 3.2 — — 18 — – 76% to 90% 97 2.1 42 2.4 — — 45 2.2 – 91% to 100% 162 3.7 127 3.9 — — 18 — Partially collateralised (A): 279 4.7 53 5.7 73 2.7 66 3.0 – collateral value on A 152 34 6 39 Total 3,472 5.2 720 6.9 83 12.0 1,877 3.0 Rated CRR/PD9 to 10 Not collateralised 4,991 48.5 1,930 34.1 510 82.5 2 50.0 Fully collateralised 1,507 22.0 494 12.6 96 11.5 214 — LTV ratio: – less than 50% 338 35.2 103 17.5 10 — 2 — – 51% to 75% 377 22.8 198 8.6 30 3.3 — — – 76% to 90% 373 23.6 101 20.8 40 7.5 — — – 91% to 100% 419 9.1 92 7.6 16 — 212 — Partially collateralised (B): 1,464 44.0 427 17.6 119 58.8 92 44.6 – collateral value on B 750 211 64 65 Total 7,962 42.7 2,851 27.9 725 69.2 308 13.6 At 31 Dec 2019 11,434 31.3 3,571 23.7 808 63.4 2,185 4.5 Rated CRR/PD8 Not collateralised 1,243 5.4 565 6.2 94 7.4 191 5.2 Fully collateralised 1,895 3.6 74 4.1 11 9.1 1,621 3.1 LTV ratio: – less than 50% 693 4.2 21 4.8 — — 594 4.2 – 51% to 75% 292 2.7 49 2.0 11 9.1 169 2.4 – 76% to 90% 45 15.6 2 — — — 20 — – 91% to 100% 865 2.8 2 — — — 838 — Partially collateralised (A): 212 2.8 23 4.3 153 1.3 — — – collateral value on A 84 14 49 — Total 3,350 4.2 662 6 258 3.9 1,812 3.4 Rated CRR/PD9 to 10 Not collateralised 5,199 53.2 1,775 42.1 503 78.1 6 16.7 Fully collateralised 1,719 24.8 513 6.2 155 — 188 9.6 LTV ratio: – less than 50% 608 36.0 181 7.7 11 — 77 22.1 – 51% to 75% 503 8.7 172 1.7 62 — 103 1.0 – 76% to 90% 405 24.2 86 10.5 32 — — — – 91% to 100% 203 31.5 74 8.1 50 — 8 — Partially collateralised (B): 974 46.1 187 21.9 193 28.0 5 60.0 – collateral value on B 466 116 73 2 Total 7,892 46.1 2,475 33.2 851 52.6 199 11.1 At 31 Dec 2018 11,242 33.7 3,137 27.4 1,109 41.3 2,011 4.2 Personal lending – residential mortgage loans including loan commitments by level of collateral for key countries/territories by stage (Audited) Of which: Total UK Hong Kong US Gross carrying/nominal amount ECL coverage Gross carrying/nominal amount ECL coverage Gross carrying/nominal amount ECL coverage Gross carrying/nominal amount ECL coverage $m % $m % $m % $m % Stage 1 Fully collateralised 326,510 — 143,772 — 86,049 — 16,079 — LTV ratio: – less than 50% 168,923 — 70,315 — 57,043 — 8,170 — – 51% to 60% 55,287 — 21,898 — 13,169 — 3,330 — – 61% to 70% 44,208 — 19,903 — 6,478 — 2,702 — – 71% to 80% 33,049 — 17,649 — 3,195 — 1,610 — – 81% to 90% 18,157 — 11,127 — 3,685 — 198 — – 91% to 100% 6,886 — 2,880 — 2,479 — 69 — Partially collateralised (A): 1,384 0.1 326 — 284 — 5 — LTV ratio: – 101% to 110% 843 0.1 89 — 281 — 3 — – 111% to 120% 195 0.2 48 — 1 — 1 — – greater than 120% 346 0.1 189 — 2 — 1 — – collateral value on A 1,232 232 279 5 Total 327,894 — 144,098 — 86,333 — 16,084 — Stage 2 Fully collateralised 7,087 0.9 1,941 1.0 1,116 — 1,074 0.3 LTV ratio: – less than 50% 3,781 0.5 1,146 0.7 892 — 680 0.2 – 51% to 60% 923 1.1 233 1.5 95 — 184 0.3 – 61% to 70% 909 1.2 262 1.2 59 — 130 0.6 – 71% to 80% 894 1.1 231 1.0 32 — 53 1.3 – 81% to 90% 425 1.6 36 2.9 25 — 17 2.7 – 91% to 100% 155 4.4 33 1.8 13 — 10 1.1 Partially collateralised (B): 76 7.2 23 1.8 1 — 4 — LTV ratio: – 101% to 110% 45 5.4 20 1.5 1 — 2 — – 111% to 120% 10 11.1 1 4.8 — — 1 — – greater than 120% 21 9.0 2 3.0 — — 1 — – collateral value on B 69 20 1 3 Total 7,163 1.0 1,964 1.0 1,117 — 1,078 0.3 Stage 3 Fully collateralised 2,725 9.0 1,177 9.9 44 0.5 695 0.7 LTV ratio: – less than 50% 1,337 7.1 711 7.8 39 0.5 279 0.7 – 51% to 60% 410 7.0 159 10.0 3 0.2 126 0.8 – 61% to 70% 358 7.9 136 10.6 — — 125 0.8 – 71% to 80% 309 13.4 100 18.9 1 — 93 1.1 – 81% to 90% 178 13.8 47 12.3 1 — 51 — – 91% to 100% 133 21.8 24 26.3 — — 21 — Partially collateralised (C): 371 47.6 25 27.3 — — 13 0.2 LTV ratio: – 101% to 110% 97 36.4 11 19.1 — — 7 0.3 – 111% to 120% 62 37.8 6 22.7 — — 2 0.3 – greater than 120% 212 55.6 8 42.0 — — 4 — – collateral value on C 305 24 — 13 Total 3,096 13.7 1,202 10.3 44 0.5 708 0.7 At 31 Dec 2019 338,153 0.2 147,264 0.1 87,494 — 17,870 0.1 Personal lending – residential mortgage loans including loan commitments by level of collateral for key countries/territories by stage (continued) (Audited) Of which: Total UK Hong Kong US Gross carrying/nominal amount ECL coverage Gross carrying/nominal amount ECL coverage Gross carrying/nominal amount ECL coverage Gross carrying/nominal amount ECL coverage $m % $m % $m % $m % Stage 1 Fully collateralised 299,072 — 130,646 — 79,180 — 15,321 — LTV ratio: – less than 50% 160,563 — 66,834 — 54,262 — 8,060 — – 51% to 60% 51,415 — 20,937 — 11,591 — 3,382 — – 61% to 70% 40,273 — 17,480 — 5,979 — 2,473 — – 71% to 80% 28,383 — 15,086 — 2,986 — 1,113 — – 81% to 90% 14,191 — 8,824 — 2,637 — 158 — – 91% to 100% 4,247 0.1 1,485 — 1,725 — 135 — Partially collateralised (A): 1,420 0.1 581 — 300 — 10 — LTV ratio: – 101% to 110% 808 0.1 334 — 256 — 5 — – 111% to 120% 184 0.2 46 — 41 — 2 — – greater than 120% 428 0.2 201 — 3 — 3 — – collateral value on A 1,266 493 284 8 Total 300,492 — 131,227 — 79,480 — 15,331 — Stage 2 Fully collateralised 6,170 1.0 1,234 1.3 867 — 1,435 0.3 LTV ratio: – less than 50% 3,334 0.7 917 0.9 699 — 814 0.1 – 51% to 60% 932 1.1 113 3.0 74 — 268 0.4 – 61% to 70% 853 1.0 105 2.2 43 — 231 0.3 – 71% to 80% 586 1.3 39 3.4 28 — 79 0.9 – 81% to 90% 331 1.7 27 3.1 20 — 32 1.6 – 91% to 100% 134 2.4 33 1.5 3 — 11 0.8 Partially collateralised (B): 123 2.9 46 0.2 1 — 5 0.3 LTV ratio: – 101% to 110% 76 1.5 44 0.1 1 — 3 0.5 – 111% to 120% 17 4.5 1 4.3 — — 1 — – greater than 120% 30 5.3 1 0.6 — — 1 — – collateral value on B 118 44 1 4 Total 6,293 1.0 1,280 1.3 868 — 1,440 0.3 Stage 3 Fully collateralised 2,557 12.3 1,023 10.9 25 0.9 671 1.0 LTV ratio: – less than 50% 1,255 13.6 638 7.8 24 0.9 219 0.9 – 51% to 60% 359 8.3 151 11.3 1 — 107 0.9 – 61% to 70% 336 12.0 119 18.4 — — 105 1.0 – 71% to 80% 280 9.9 70 14.8 — — 114 0.9 – 81% to 90% 190 9.4 33 19.4 — — 81 1.2 – 91% to 100% 137 19.8 12 45.9 — — 45 2.2 Partially collateralised (C): 391 33.6 23 15.8 — — 24 0.4 LTV ratio: – 101% to 110% 73 17.4 10 14.3 — — 14 0.6 – 111% to 120% 68 24.2 5 26.4 — — 6 0.3 – greater than 120% 250 40.8 8 11.1 — — 4 0.2 – collateral value on C 372 20 — 22 Total 2,948 15.1 1,046 11.0 25 0.9 695 1.0 At 31 Dec 2018 309,733 0.2 133,553 0.1 80,373 — 17,466 0.1 |
Disclosure of balance sheet amounts related to insurance manufacturing subsidiaries | Balance sheet of insurance manufacturing subsidiaries by type of contract (Audited) With DPF Unit-linked Other contracts 1 Shareholder Total Footnotes $m $m $m $m $m Financial assets 73,929 7,333 17,514 8,269 107,045 – trading assets — — — — — – financial assets designated and otherwise mandatorily measured at fair value through profit or loss 21,652 7,119 3,081 2,426 34,278 – derivatives 202 (6 ) 9 3 208 – financial investments at amortised cost 35,299 18 13,436 4,076 52,829 – financial investments at fair value through other comprehensive income 12,447 — 445 1,136 14,028 – other financial assets 2 4,329 202 543 628 5,702 Reinsurance assets 2,208 72 1,563 1 3,844 PVIF 3 — — — 8,945 8,945 Other assets and investment properties 2,495 2 211 602 3,310 Total assets 78,632 7,407 19,288 17,817 123,144 Liabilities under investment contracts designated at fair value — 2,011 3,881 — 5,892 Liabilities under insurance contracts 77,147 6,151 14,141 — 97,439 Deferred tax 4 197 23 6 1,297 1,523 Other liabilities — — — 4,410 4,410 Total liabilities 77,344 8,185 18,028 5,707 109,264 Total equity — — — 13,879 13,879 Total liabilities and equity at 31 Dec 2019 77,344 8,185 18,028 19,586 123,143 Balance sheet of insurance manufacturing subsidiaries by type of contract (continued) (Audited) With DPF Unit-linked Other contracts 1 Shareholder Total Footnotes $m $m $m $m $m Financial assets 66,735 7,337 15,552 7,120 96,744 – trading assets — — — — — – financial assets designated and otherwise mandatorily measured at fair value through profit or loss 17,855 7,099 3,024 1,264 29,242 – derivatives 200 — 33 4 237 – financial investments at amortised cost 33,575 70 11,597 4,171 49,413 – financial investments at fair value through other comprehensive income 11,499 — 450 1,385 13,334 – other financial assets 2 3,606 168 448 296 4,518 Reinsurance assets 1,255 69 1,368 — 2,692 PVIF 3 — — — 7,149 7,149 Other assets and investment properties 2,670 2 235 453 3,360 Total assets 70,660 7,408 17,155 14,722 109,945 Liabilities under investment contracts designated at fair value — 1,574 3,884 — 5,458 Liabilities under insurance contracts 69,269 5,789 12,272 — 87,330 Deferred tax 4 179 21 15 1,051 1,266 Other liabilities — — — 3,659 3,659 Total liabilities 69,448 7,384 16,171 4,710 97,713 Total equity — — — 12,232 12,232 Total liabilities and equity at 31 Dec 2018 69,448 7,384 16,171 16,942 109,945 1 ‘Other Contracts’ includes term insurance, credit life insurance, universal life insurance and investment contracts not included in the ‘Unit-linked’ or ‘With DPF’ columns. 2 Comprise mainly loans and advances to banks, cash and inter-company balances with other non-insurance legal entities. 3 Present value of in-force long-term insurance business. 4 ‘Deferred tax’ includes the deferred tax liabilities arising on recognition of PVIF. Balance sheet of insurance manufacturing subsidiaries by geographical region 1 (Audited) Europe Asia Latin Total Footnotes $m $m $m $m Financial assets 31,613 74,237 1,195 107,045 – trading assets — — — — – financial assets designated and otherwise mandatorily measured at fair value through profit or loss 15,490 18,562 226 34,278 – derivatives 84 124 — 208 – financial investments – at amortised cost 100 52,186 543 52,829 – financial investments – at fair value through other comprehensive income 13,071 582 375 14,028 – other financial assets 2 2,868 2,783 51 5,702 Reinsurance assets 237 3,604 3 3,844 PVIF 3 945 7,841 159 8,945 Other assets and investment properties 1,085 2,176 49 3,310 Total assets 33,880 87,858 1,406 123,144 Liabilities under investment contracts designated at fair value 1,139 4,753 — 5,892 Liabilities under insurance contracts 28,437 67,884 1,118 97,439 Deferred tax 4 229 1,275 19 1,523 Other liabilities 2,212 2,172 26 4,410 Total liabilities 32,017 76,084 1,163 109,264 Total equity 1,862 11,774 243 13,879 Total liabilities and equity at 31 Dec 2019 33,879 87,858 1,406 123,143 Balance sheet of insurance manufacturing subsidiaries by geographical region 1 (continued) Europe Asia Latin Total Footnotes $m $m $m $m Financial assets 28,631 66,793 1,320 96,744 – trading assets — — — — – financial assets designated and otherwise mandatorily measured at fair value through profit or loss 13,142 15,744 326 29,242 – derivatives 121 116 — 237 – financial investments – at amortised cost 296 48,595 522 49,413 – financial investments – at fair value through other comprehensive income 12,453 440 441 13,334 – other financial assets 2 2,619 1,868 31 4,518 Reinsurance assets 249 2,438 5 2,692 PVIF 3 832 6,195 122 7,149 Other assets and investment properties 1,053 2,280 27 3,360 Total assets 30,765 77,706 1,474 109,945 Liabilities under investment contracts designated at fair value 780 4,678 — 5,458 Liabilities under insurance contracts 26,375 59,829 1,126 87,330 Deferred tax 4 209 1,050 7 1,266 Other liabilities 1,690 1,911 58 3,659 Total liabilities 29,054 67,468 1,191 97,713 Total equity 1,711 10,238 283 12,232 Total liabilities and equity at 31 Dec 2018 30,765 77,706 1,474 109,945 1 HSBC has no insurance manufacturing subsidiaries in Middle East and North Africa or North America. 2 Comprise mainly loans and advances to banks, cash and inter-company balances with other non-insurance legal entities. 3 Present value of in-force long-term insurance business. 4 ‘Deferred tax’ includes the deferred tax liabilities arising on recognition of PVIF. |
Disclosure of financial return guarantees | Financial return guarantees (Audited) 2019 2018 Investment returns implied by guarantee Long-term investment returns on relevant portfolios Cost of guarantees Investment returns implied by guarantee Long-term investment returns on relevant portfolios Cost of guarantees Footnotes % % $m % % $m Capital 0.0 1.3 - 3.9 110 0.0 2.2-3.0 100 Nominal annual return 0.1 - 2.0 3.0-4.5 118 0.1-2.0 3.6-3.7 78 Nominal annual return 1 2.0 - 4.0 2.4 - 4.5 355 2.1-4.0 2.7-4.6 420 Nominal annual return 4.1 - 5.0 2.3 - 4.1 110 4.1-5.0 2.7-4.1 71 At 31 Dec 693 669 1 A block of contracts in France with guaranteed nominal annual returns in the range 1.25% – 3.72% is reported entirely in the 2.0% – 4.0% category in line with the average guaranteed return of 2.6% offered to policyholders by these contracts. |
Disclosure of sensitivity analysis to insurance risk factors | Sensitivity of HSBC’s insurance manufacturing subsidiaries to market risk factors (Audited) 2019 2018 Effect on profit after tax Effect on total equity Effect on profit after tax Effect on total equity $m $m $m $m +100 basis point parallel shift in yield curves 43 (37 ) 9 (61 ) -100 basis point parallel shift in yield curves (221 ) (138 ) (28 ) 46 10% increase in equity prices 270 270 213 213 10% decrease in equity prices (276 ) (276 ) (202 ) (202 ) 10% increase in US dollar exchange rate compared with all currencies 41 41 36 36 10% decrease in US dollar exchange rate compared with all currencies (41 ) (41 ) (36 ) (36 ) Sensitivity analysis (Audited) 2019 2018 $m $m Effect on profit after tax and total equity at 31 Dec 10% increase in mortality and/or morbidity rates (88 ) (77 ) 10% decrease in mortality and/or morbidity rates 88 82 10% increase in lapse rates (99 ) (95 ) 10% decrease in lapse rates 114 107 10% increase in expense rates (106 ) (92 ) 10% decrease in expense rates 105 93 |
Disclosure of expected maturity of insurance contract liabilities | Expected maturity of insurance contract liabilities (Audited) Expected cash flows (undiscounted) Within 1 year 1-5 years 5-15 years Over 15 years Total $m $m $m $m $m Unit-linked 1,296 3,153 2,654 1,955 9,058 With DPF and Other contracts 7,907 26,906 50,576 71,731 157,120 At 31 Dec 2019 9,203 30,059 53,230 73,686 166,178 Unit-linked 1,119 2,932 2,684 1,962 8,697 With DPF and Other contracts 7,459 27,497 46,217 55,989 137,162 At 31 Dec 2018 8,578 30,429 48,901 57,951 145,859 |
Disclosure of funding sources and uses | Funding sources (Audited) 2019 2018 $m $m Customer accounts 1,439,115 1,362,643 Deposits by banks 59,022 56,331 Repurchase agreements – non-trading 140,344 165,884 Debt securities in issue 104,555 85,342 Cash collateral, margin and settlement accounts 71,002 54,066 Liabilities of disposal groups held for sale — 313 Subordinated liabilities 24,600 22,437 Financial liabilities designated at fair value 164,466 148,505 Liabilities under insurance contracts 97,439 87,330 Trading liabilities 83,170 84,431 – repos 558 1,495 – stock lending 9,702 10,998 – other trading liabilities 72,910 71,938 Total equity 192,668 194,249 Other balance sheet liabilities 338,771 296,593 At 31 Dec 2,715,152 2,558,124 Funding uses (Audited) 2019 2018 Footnotes $m $m Loans and advances to customers 1,036,743 981,696 Loans and advances to banks 69,203 72,167 Reverse repurchase agreements – non-trading 240,862 242,804 Prepayments, accrued income and other assets 1 63,891 47,159 – cash collateral, margin and settlement accounts 63,891 47,159 Assets held for sale 123 735 Trading assets 254,271 238,130 – reverse repos 13,659 9,893 – stock borrowing 7,691 8,387 – other trading assets 232,921 219,850 Financial investments 443,312 407,433 Cash and balances with central banks 154,099 162,843 Other balance sheet assets 452,648 405,157 At 31 Dec 2,715,152 2,558,124 1 Includes only those financial instruments that are subject to the impairment requirements of IFRS 9. ‘Prepayments, accrued income and other assets’ as presented within the consolidated balance sheet on page 262 includes both financial and non-financial assets. |
Disclosure of value at risk (VaR) | The Group trading VaR for the year is shown in the table below. Trading VaR, 99% 1 day 1 (Audited) Foreign exchange and commodity Interest rate Equity Credit spread Portfolio diversification 2 Total 3 $m $m $m $m $m $m Balance at 31 Dec 2019 7.7 28.2 15.7 15.2 (26.4 ) 40.3 Average 6.9 29.9 16.2 23.7 (29.0 ) 47.8 Maximum 13.5 36.5 24.9 33.2 59.3 Minimum 4.1 22.9 12.4 11.7 33.3 Balance at 31 Dec 2018 12.6 33.9 22.6 25.9 (37.9 ) 57.1 Average 9.5 36.4 22.5 20.7 (34.3 ) 54.8 Maximum 21.8 49.9 33.8 35.2 71.2 Minimum 5.5 27.0 13.5 12.2 43.9 1 Trading portfolios comprise positions arising from the market-making and warehousing of customer-derived positions. 2 Portfolio diversification is the market risk dispersion effect of holding a portfolio containing different risk types. It represents the reduction in unsystematic market risk that occurs when combining a number of different risk types – such as interest rate, equity and foreign exchange – together in one portfolio. It is measured as the difference between the sum of the VaR by individual risk type and the combined total VaR. A negative number represents the benefit of portfolio diversification. As the maximum and minimum occurs on different days for different risk types, it is not meaningful to calculate a portfolio diversification benefit for these measures. 3 The total VaR is non-additive across risk types due to diversification effects. The Group non-trading VaR for the year is shown in the table below. Non-trading VaR, 99% 1 day (Audited) Interest rate Credit spread Portfolio 1 Total 2 $m $m $m $m Balance at 31 Dec 2019 96.2 62.5 (28.2 ) 130.5 Average 65.9 44.2 (25.6 ) 84.5 Maximum 100.1 81.2 132.8 Minimum 49.2 26.6 60.9 Balance at 31 Dec 2018 61.4 37.2 (30.6 ) 68 Average 96.8 48.3 (29.1 ) 116 Maximum 129.3 96 154.1 Minimum 59.9 27.6 68 1 Portfolio diversification is the market risk dispersion effect of holding a portfolio containing different risk types. It represents the reduction in unsystematic market risk that occurs when combining a number of different risk types – such as interest rate, equity and foreign exchange – together in one portfolio. It is measured as the difference between the sum of the VaR by individual risk type and the combined total VaR. A negative number represents the benefit of portfolio diversification. As the maximum and minimum occurs on different days for different risk types, it is not meaningful to calculate a portfolio diversification benefit for these measures. 2 The total VaR is non-additive across risk types due to diversification effects. |
Report Of The Directors Finan_4
Report Of The Directors Financial Review Capital Report (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Report Of The Directors Financial Review Capital Report [Abstract] | |
Disclosure of capital requirements under banking regulations | Own funds disclosure (Audited) At 31 Dec 31 Dec 2019 2018 Ref * $m $m Common equity tier 1 (‘CET1’) capital: instruments and reserves 1 Capital instruments and the related share premium accounts 22,873 22,384 – ordinary shares 22,873 22,384 2 Retained earnings 127,188 121,180 3 Accumulated other comprehensive income (and other reserves) 1,735 3,368 5 Minority interests (amount allowed in consolidated CET1) 4,865 4,854 5a Independently reviewed interim net profits net of any foreseeable charge or dividend (3,381 ) 3,697 6 Common equity tier 1 capital before regulatory adjustments 153,280 155,483 28 Total regulatory adjustments to common equity tier 1 (29,314 ) (34,461 ) 29 Common equity tier 1 capital 123,966 121,022 36 Additional tier 1 capital before regulatory adjustments 24,453 26,180 43 Total regulatory adjustments to additional tier 1 capital (60 ) (60 ) 44 Additional tier 1 capital 24,393 26,120 45 Tier 1 capital 148,359 147,142 51 Tier 2 capital before regulatory adjustments 25,192 26,729 57 Total regulatory adjustments to tier 2 capital (1,401 ) (633 ) 58 Tier 2 capital 23,791 26,096 59 Total capital 172,150 173,238 * The references identify the lines prescribed in the European Banking Authority (‘EBA’) template, which are applicable and where there is a value. |
Report of Directors Corporate_2
Report of Directors Corporate Governance (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Report Of Directors Corporate Governance [Abstract] | |
Disclosure of remuneration of executive Directors | The following table shows the single figure of total remuneration of each executive Director for 2019, together with comparative figures Single figure of remuneration Noel Quinn 1 John Flint 2 Ewen Stevenson Marc Moses 3 (£000) 2019 2018 2019 2018 2019 2018 2019 2018 Base salary 503 — 730 1,028 719 — 719 700 Fixed pay allowance 695 — 1,005 1,459 950 — 950 950 Cash in lieu of pension 50 — 134 308 107 — 107 210 Taxable benefits 4 41 — 91 40 16 — 40 13 Non-taxable benefits 4 23 — 31 28 28 — 33 38 Total fixed 1,312 — 1,991 2,863 1,820 — 1,849 1,911 Annual incentive 5 665 — 891 1,665 1,082 — 926 1,324 AML DPA award 6 — — — — — — — 695 LTI 7 — — — — — — 1,709 — Replacement award 8 — — — — 1,974 — — — Notional returns 9 — — 40 54 — — 17 33 Total variable 665 — 931 1,719 3,056 — 2,652 2,052 Total fixed and variable 1,977 — 2,922 4,582 4,876 — 4,501 3,963 1 Noel Quinn succeeded John Flint as interim Group Chief Executive with effect from 5 August 2019 and the remuneration included in the single figure table above is in respect of services provided as an executive Director. 2 John Flint stepped down as an executive Director and Group Chief Executive on 5 August 2019. His remuneration details for 2019 are in respect of services provided as an executive Director. Details of John Flint's departure terms are provided on page 234 . 3 Marc Moses stepped down as an executive Director and Group Chief Risk Officer on 31 December 2019. Details of Marc Moses' departure terms are provided on page 234 . 4 Taxable benefits include the provision of medical insurance, car and tax return assistance (including any associated tax due, where applicable). Non-taxable benefits include the provision of life assurance and other insurance cover. 5 To meet regulatory deferral requirements for 2019, 60% of the annual incentive award for John Flint and Marc Moses will be deferred in awards linked to HSBC's shares and will vest in five equal instalments between the third and seventh anniversary of the grant date. On vesting, the shares will be subject to a one -year retention period. The deferred awards are subject to the executive Director maintaining good leaver status during the deferral period. Noel Quinn will have 60% of his annual incentive award deferred, and in line with regulatory requirements it will be split equally between cash and shares subject to the same vesting and retention conditions. 6 The 2012 annual incentive for Marc Moses had a 60% deferral. The vesting of this deferred award was subject to a service condition and satisfactory completion of the five -year deferred prosecution agreement ('AML DPA') with the US Department of Justice. The AML DPA condition was satisfied in March 2018 and the awards were released. The value of Marc Moses' award in the table above reflects his time as an executive Director between 1 January 2014 and the vesting date. 7 An LTI award was made in February 2017 (in respect of 2016) at a share price of £6.503 for which the performance period ended on 31 December 2019. The value has been computed based on a share price of £5.896 , the average share price during the three-month period to 31 December 2019. This includes dividend equivalents of £ 237,030 , equivalent to 40,202 shares at a share price of £ 5.896 . See the following section for details of the assessment outcomes. 8 As set out in the 2018 Directors' remuneration report, in 2019 Ewen Stevenson was granted replacement awards to replace unvested awards, which were forfeited as a result of him joining HSBC. The awards, in general, match the performance, vesting and retention periods attached to the awards forfeited, and will be subject to any performance adjustments that would otherwise have been applied. The values included in the table relate to Ewen Stevenson's 2015 and 2016 LTI awards granted by The Royal Bank of Scotland Group plc ('RBS') for performance years 2014 and 2015, respectively, and replaced with HSBC shares when Ewen Stevenson joined HSBC. These awards are not subject to further performance conditions and commenced vesting in March 2019. The total value is an aggregate of £1,121,308 for the 2015 LTI and £852,652 for the 2016 LTI. The 2016 LTI award value has been determined by applying the performance assessment outcome of 27.5% as disclosed in RBS's Annual Report and Accounts 2018 (page 70) to the maximum number of shares subject to performance conditions. 9 ‘Notional returns’ refers to the notional return on deferred cash for awards made in prior years. The deferred cash portion of the annual incentive granted in prior years includes a right to receive notional returns for the period between grant date and vesting date, which is determined by reference to the dividend yield on HSBC shares, calculated annually. A payment of notional return is made annually in the same proportion as the vesting of the deferred awards on each vesting date. The amount is disclosed on a paid basis in the year in which the payment is made. No deferred cash awards have been made to executive Directors for their services as an executive Director since the 2016 financial year. |
Disclosure of performance achieved by executive Directors | Annual assessment Group Chief Executive Group Chief Financial Officer Group Chief Risk Officer Weighting (%) Assessment (%) Outcome (%) Weighting (%) Assessment (%) Outcome (%) Weighting (%) Assessment (%) Outcome (%) Profit before tax 1 10.0 92.5 9.3 10.0 92.5 9.3 10.0 92.5 9.3 Positive jaws 5.0 100.0 5.0 10.0 100.0 10.0 — — — Revenue growth 10.0 79.4 7.9 — — — — — — RoTE 5.0 48.7 2.4 8.3 48.7 4.0 3.3 48.7 1.6 Capital metrics 5.0 62.5 3.1 16.7 62.5 10.4 6.7 62.5 4.2 Strategic priorities 30.0 39.3 11.8 20.0 68.8 13.8 15.0 41.7 6.3 Risk and compliance 25.0 77.5 19.4 25.0 90.0 22.5 45.0 63.9 28.7 Personal objectives 10.0 75.0 7.5 10.0 75.0 7.5 20.0 81.3 16.2 Total 100.0 66.4 100.0 77.5 100.0 66.3 Maximum annual incentive opportunity (£000) £2,451 £1,396 £1,396 Annual incentive (£000) £1,082 £926 – Noel Quinn 2 £665 – John Flint 3 £891 Financial performance Annual assessment Minimum (25% payout) Maximum (100% payout) Performance Assessment (%) Measure Profit before tax ($bn) 1 $21.3 $24.3 $24.0 92.5 Positive jaws (%) Positive 2.5 3.0 100.0 Deliver mid-single digit revenue growth (%) 3.0 7.0 5.9 79.4 Reported RoTE (%) 7.8 9.7 8.4 48.7 Capital metrics 4 Various (see following notes and performance assessment) Strategic priorities 5 1 Profit before tax, as defined for Group annual bonus pool calculation. This definition excludes business disposal gains and losses, debt valuation and goodwill adjustments and variable pay expense. However, it takes into account fines, penalties and costs of customer redress, including provisions, which are excluded from the adjusted profit before tax. Other significant items are included or excluded in line with the principles underpinning the definition. The adjusted profit before tax as per adjusted results is found on page 2 . 2 Noel Quinn performed the Group Chief Executive role from 5 August 2019 to 31 December 2019. The performance assessment for Noel Quinn against the risk and compliance measure was 77.5% , resulting in an outcome of 19.4% against this measure. This results in an overall scorecard outcome of 66.4% for him. His annual incentive award has been determined based on 40.8% of the performance outcome to reflect the time spent by him in the Group Chief Executive role during 2019. 3 John Flint performed the Group Chief Executive role from 1 January 2019 to 4 August 2019. The performance assessment for John Flint against the risk and compliance measure was 57.5% , resulting in an outcome of 14.4% against this measure. This results in an overall scorecard outcome of 61.4% for him. His annual incentive award has been determined based on 59.2% of this performance outcome to reflect the time spent by him in the Group Chief Executive role during 2019. 4 Maintaining and improving Group capital measures, primarily equity measures, in line with our intent to maintain a CET1 ratio of more than 14% . 5 Strategic priorities measures include: accelerate revenue growth from our Asian franchise, grow international revenue, turn around the US business, improve customer service, strengthen external relationships and employee engagement. Non-financial performance Group Chief Executive (Noel Quinn and John Flint) Objectives Performance Strategic priorities • Accelerate revenue growth from our Asia franchise • Deliver revenue growth from our international network • Turn around the US business • Improve customer satisfaction • The full-year revenue growth of 7.1% in Asia, 11.6% in Asia wealth management, 6.6% in Hong Kong and 5.4% in the ASEAN region were all within their respective target ranges but below the maximum targets set for these measures. Growth of 9.8% in the Pearl River Delta was below the target range. This measure carried a 15% weighting, with a performance assessment of 54%, resulting in an overall scorecard outcome of 8.05%. • Revenue growth from international clients of 2.0% was below the full-year target range of 3.5 to 7.5%. This measure carried a 5% weighting and has not resulted in any payout. • The lower interest rate environment and challenging conditions, particularly in capital markets, impacted the US RoTE target, with the full-year RoTE of 1.8%, below the 2% to 4% target range for 2019. This measure carried a 5% weighting and has not resulted in any payout. • Customer service in RBWM in six out of eight scale markets was ranked in the top three, or improved from 2018. In CMB, four out of eight scale markets were within the top-three rankings. The GB&M customer engagement score was ahead of the competition, despite having decreased by 2 points since 2018. In GPB, the overall satisfaction score increased from a mean score of 7.6 out of 10 in 2018 to 8.0 in 2019. Initiatives for continual improvement of customer satisfaction remain a high priority. This measure carried a 5% weighting, with a performance assessment of 75% and a scorecard outcome of 3.75%. Risk and compliance • Achieve and deliver sustainable global conduct outcomes and effective financial crime risk management • Effectively manage material operational risks The assessment has been based on the management of financial crime risk, delivery of conduct outcomes and management of the Group’s operational risk profile. There was a firm commitment to the compliance agenda and a strong tone from the top that contributed towards: • improvement in the management of financial crime risks through increased effectiveness of the financial crime risk management committees, proactive management of data quality, a more robust financial crime risk control environment and conduct outcomes across the Group; • the encouragement of a ‘speak up’ culture; and • the acceleration of the full adoption of the operational risk management framework across the first and second lines of defence to manage non-financial risk more effectively. There was a slower pace of progress on operational risk matters in the first half of 2019 and this was reflected in the lower outcome assessed for John Flint. Personal objectives • Strengthen the Group’s external relationships • Improve employee engagement • Improve diversity in senior management • Interactions with investors and regulators received positive feedback. They were described as professional, competent and embodying trust, respect and transparency. • Employer advocacy, as a measure of employee engagement, remained stable at 66%, although below the target of 69%. Efforts to improve engagement continue. • Female representation in senior leadership roles at 29.4% exceeded the target of 29%, and is on track towards the aspirational target of 30% female leaders in senior positions by 2020. Group Chief Financial Officer (Ewen Stevenson) Objectives Performance Strategic priorities • Turn around the US business • Improve Finance function support to global businesses through investment in digital capabilities • Simplify the organisation and deliver cost savings • The lower interest rate environment and challenging conditions, particularly in capital markets, impacted the US RoTE target, with the full-year RoTE of 1.8%, below the 2% to 4% 2019 target range. This measure carried a 5% weighting and has not resulted in any payout. • The deployment of Cloud technologies for regulatory liquidity reporting was executed to plan, with migration to Cloud infrastructure by the year-end. Full migration to Cloud technology for the Finance function has focused on three key areas: Finance operating model, people skills and regulatory engagement. This measure carried a 5% weighting and 75% performance outcome. • Simplification of the Finance function’s structure led to more effective management of the function. Finance launched a ‘Stop and Simplify’ campaign to implement initiatives, leading to greater efficiencies. Other initiatives continue to target enhanced employee engagement, skills development and advocacy. This measure carried a 10% weighting and was assessed as fully met. Risk and compliance • Achieve and deliver sustainable global conduct outcomes and effective financial crime risk management • Effectively manage material operational risks • Deliver commitments to regulators, including the successful delivery of the Bank of England and other stress tests • The assessment has been based on the management of financial crime risk, delivery of conduct outcomes, management of the Group’s operational risk profile, delivery of stress tests and other commitments to the regulators. • Processes for monitoring and reporting conduct outcomes were enhanced and overseen by senior governance structures. No significant conduct issues, breaches or reportable events were identified. Internal review of conduct and controls, including governance, were rated as effective. • Progress is underway to embed the risk management framework to manage non-financial risks more effectively. There is robust stewardship of financial reporting risk across the Group with a strong tone from the top supported by senior governance forums. • Regulatory stress test updates were delivered on time and to the required standard, with regulator queries addressed in a timely manner. Personal objectives • Strengthen the Group’s external relationships • Improve employee engagement • Improve diversity in senior management • The investor relations strategy was fulfilled, covering all key regions and strengthening the Group’s relationships with key stakeholders. Effective interactions helped to gain considerable traction with key regulators in core markets. • Employer advocacy, as a measure of employee engagement, remained stable at 66%, although below the target of 69%. Efforts to improve engagement continue. • Female representation in senior leadership roles in the Global Finance function at 29.6% exceeded the target of 29.2%, primarily due to the recruitment of women in key senior leadership roles. Sponsorship of the Global Disability Confidence Programme, female development programmes, parental transition coaching, and PRIDE (LBGTQ) sensitisation training all supported diversity and inclusion in the function. Group Chief Risk Officer (Marc Moses) Objectives Performance Strategic priorities • Turn around the US business • Improve customer satisfaction • Simplify the organisation and deliver cost savings • The lower interest rate environment and challenging conditions, particularly in capital markets has impacted the US RoTE target, with the full-year RoTE of 1.8%, below the 2% to 4% 2019 target range. This measure carried a 5% weighting and has not resulted in any payout. • The focus on customer satisfaction continued across markets, with improvements identified for action. • Targeted cost savings in the function were achieved through consolidation of work, simplification of structures and centres of excellence. Risk and compliance • Achieve and deliver sustainable global conduct outcomes and effective financial crime risk management • Effectively manage material operational risks • Deliver commitments to regulators, including the successful delivery of the Bank of England and other stress tests • Successfully enhance model risk management • The assessment has been based on the management of financial crime risk, delivery of conduct outcomes, management of the Group’s operational risk profile, delivery of stress tests and other commitments to the regulators and model risk management. • The 2019 conduct agenda continued to drive forward by maintaining a strong tone from the top, fostering a ‘speak up’ culture and targeting ongoing monitoring. • The Group’s top non-financial risks remained broadly unchanged in 2019, with a focus on model risk and resilience risk stewardship. There was an increased focus to fully adopt the operational risk management framework and to manage non-financial risks more effectively. • Progress is underway to embed the operational risk management framework to manage non-financial risks more effectively, with robust stewardship of financial reporting risk across the Group and a strong tone from the top. • The 2019 annual cyclical scenario was successfully delivered to the PRA and the CCAR submission was delivered to the US Federal Reserve Board. • The enhancement of model risk management is underway through staff appointments, training and the delivery of the model ownership framework. Personal objectives • Support innovation • Strengthen the Group’s external relationships • Improve employee engagement • Improve diversity in senior management • The education of Global Risk employees in innovation continues, with increasing deployment of Cloud technologies and Agile methodologies. • There were successful and regular interactions with stakeholders. Regulators repeatedly highlighted the excellence of financial risk management. The improvement of non-financial risk management remains a continued focus. • Employer advocacy, as a measure of employee engagement, remained stable at 66%, although below the target of 69%. Initiatives to improve engagement continue. • Female representation in senior leadership roles at 25.6% exceeded the target of 24%. |
Disclosure of assessment of the LTI award | Assessment of the LTI award in respect of 2016 (granted in 2017) Measures (with weighting) Minimum (25% payout) Target (50% payout) Maximum (100% payout) Actual Assessment Outcome Average return on equity 1 (20.00%) 7.00% 8.50% 10.00% 8.33% 47.17% 9.43% Cost efficiency Positive 1.50% 3.00% 3.10% 100.00% 20.00% Relative total shareholder return 2 (20.00%) At median of the peer group. Straight-line vesting between minimum and maximum. At upper quartile of the peer group. Rank 5th 68.00% 13.60% Global Standards including risk and compliance • Status of AML DPA (10.00%) Not applicable Not applicable Met all commitments to achieve closure of the AML DPA and protect HSBC from further regulatory censure for financial crime compliance failings. Met 100.00% 10.00% • Achieve and sustain compliance with Global Financial Crime Compliance policies and procedures 3 (15.00%) Performance assessed by the Committee based on a number of qualitative and quantitative inputs such as feedback from the Financial System Vulnerabilities Committee, Group Financial Crime Risk assessment against Financial Crime Compliance objectives, outcome of assurance and audit reviews, and achievement of the long-term Group objectives and priorities during the performance period. 75.00% 75.00% 11.25% Strategy • International client revenues (Share of revenue supported by international network) (3.75%) 50.00% 51.00% 52.00% 53.00% 100.00% 3.75% • Revenue synergies (Share of revenues supported by universal banking model) (3.75%) 22.00% 23.00% 24.00% 31.00% 100.00% 3.75% • Employee 4 (Results of employee survey) (3.75%) 65.00% 67.00% 70.00% 58.00% 0.00% 0.00% • Customer (Based on customer recommendation in home country markets) (3.75%) Rank within top three in at least two of the four RBWM and CMB customer segments in home country markets. Rank within top three in three of the four RBWM and CMB customer segments in home country markets. Rank within top three in all four RBWM and CMB customer segments in home country markets. Ranked within top three in two customer segments 25.00% 0.94% Total 5 72.72% 1 Significant items are excluded from the profit attributable to ordinary shareholders of the company for the purpose of computing adjusted return on equity. 2 The peer group for the 2016 award is: Australia and New Zealand Banking Group, Bank of America, Barclays, BNP Paribas, Citigroup, Credit Suisse Group, DBS Group Holdings, Deutsche Bank, J.P. Morgan Chase & Co., Lloyds Banking Group, Standard Chartered and UBS Group. 3 The performance outcome was reviewed and approved by the Group Risk Committee and the Financial System Vulnerabilities Committee. The performance assessment was based on qualitative and quantitative factors, which evidenced an improvement in financial crime risk-related audit outcomes, an overall reduction of residual risk for anti-money laundering and sanctions as assessed by our enterprise-wide risk assessment, improvement of financial crime risk control effectiveness during the performance period and strong financial crime governance. 4 Assessed based on results of the latest employee Snapshot survey question: ‘I am seeing the positive impact of our strategy’. 5 Assessment determined on a straight-line basis for performance between the minimum, target and maximum levels of performance set in this table. |
Disclosure of performance conditions for long-term incentives | Performance conditions for LTI awards in respect of 2019 Measures Minimum (25% payout) Target (50% payout) Maximum (100% payout) Weighting % RoTE (with CET1 underpin) 1, 2 10.0% 11.0% 12.0% 33.3 Relative TSR 3 At median of the peer group Straight-line vesting between minimum and maximum At upper quartile of peer group 33.3 Customers Performance will be assessed by the Committee taking into consideration: • customer satisfaction scores at the start and end of the three-year performance period for our global businesses in home and scale markets as per data provided by an independent third party on HSBC’s performance across our products and services; and • progress against customer objectives linked to our strategy over the next three years. 33.3 1 To be assessed based on RoTE in the 2022 financial year. The measure will also be subject to a CET1 underpin. If the CET1 ratio at the end of performance period is below the CET1 risk tolerance level set in the risk appetite statement, then the assessment for this measure will be reduced to nil. 2 Awards will vest on a straight-line basis for performance between the minimum, target and maximum levels of performance set in this table. 3 The peer group for the 2019 award is: Bank of America, Barclays, BNP Paribas, Citigroup, Credit Suisse Group, DBS Group Holdings, Deutsche Bank, J.P. Morgan Chase & Co., Lloyds Banking Group, Morgan Stanley, Standard Chartered and UBS Group. Details of the performance measures and targets for the LTI award in respect of 2018 are set out on the following page. Performance conditions for LTI awards in respect of 2018 (granted in 2019) Measures Minimum (25% payout) Target (50% payout) Maximum (100% payout) Weighting % Average RoTE (with CET1 underpin) 1 10.0% 11.0% 12.0% 75.0 Employer advocacy 2 65.0% 70.0% 75.0% 12.5 Environmental, social and governance rank 3 Score to achieve an ‘average performer’ rating Mid-point score between average and outperformer threshold scores Score required to achieve an ‘outperformer’ rating 12.5 Total 4 100.0 1 If the CET1 ratio at the end of performance period is below the CET1 risk tolerance level set in the risk appetite statement, then the assessment for this measure will be reduced to nil. 2 To be assessed based on results of the latest employee Snapshot survey question: ‘I would recommend this company as a great place to work’. 3 To be assessed based on results of the latest rating issued by Sustaina lytics. In the event that Sustainalytics changes its approach to provide the ratings during the performance period, this may impact the assessment of the performance condition. To ensure that the performance targets/assessment approach achieves its original purpose (i.e. are no less or more difficult than when the original targets were set) the Committee retains the discretion to review and where appropriate modify the targets once further details on any updated Sustainalytics ratings approach is published . 4 Awards will vest on a straight-line basis for performance between the minimum, target and maximum levels of performance set in this table. |
Disclosure of scheme interests awarded | The table below sets out the scheme interests awarded to Directors in 2019, as disclosed in the 2018 Directors’ remuneration report. No non-executive Directors received scheme interests during the financial year. Scheme awards in 2019 (Audited) Type of interest awarded Basis on which Date of award Face value awarded 1 £000 Percentage receivable for minimum performance Number of shares awarded End of performance period Marc Moses LTI deferred shares 2 % of salary 3 25 February 2019 2,859 25 458,567 31 December 2021 John Flint (stepped down on 5 August 2019) LTI deferred shares 2 % of salary 3 25 February 2019 4,919 25 788,933 31 December 2021 Ewen Stevenson (appointed 1 January 2019) Deferred shares Replacement award (2018 performance period) 4 28 May 2019 1,509 — 241,988 31 December 2018 Deferred shares Replacement award 5 28 May 2019 561 — 84,397 31 December 2017 Deferred shares Replacement award 6 28 May 2019 851 — 128,045 31 December 2018 Deferred shares Replacement award 7 28 May 2019 2,083 — 313,608 31 December 2019 Deferred shares Replacement award 8 28 May 2019 1,181 — 177,883 31 December 2020 Noel Quinn (appointed 5 August 2019) Deferred shares 9 Annual incentive 25 February 2019 877 — 140,585 31 December 2018 Deferred cash 9 Annual incentive 25 February 2019 684 — N/A 31 December 2018 1 The face value of the award has been computed using HSBC's closing share price of £6.235 taken on 24 February 2019 for Marc Moses, John Flint, Noel Quinn and Ewen Stevenson's 2018 replacement award. Ewen Stevenson's other replacement awards were calculated using a closing share price of £6.643 taken on 30 November 2018. 2 LTI awards are subject to a three -year forward-looking performance period and vest in five equal annual instalments, subject to performance achieved. On vesting, awards will be subject to a one -year retention period. Awards are subject to malus during the vesting period and clawback for a maximum period of 10 years from the date of the award. 3 In line with regulatory requirements, scheme interests awarded during 2019 were not eligible for dividend equivalents. In accordance with the remuneration policy approved by shareholders at the 2016 AGM, the LTI award was determined at 320% of salary for John Flint and 319% of salary for Marc Moses and the number of shares to be granted was determined by taking into account a share price discounted based on HSBC’s expected dividend yield of 5% per annum for the vesting period (i.e. £4.867 ). 4 Deferred award made in lieu of a variable pay award Ewen Stevenson would have otherwise received from The Royal Bank of Scotland Group plc (‘RBS’) for the 2018 performance year. The award was determined based on the pre-grant assessment disclosed by RBS for the performance year 2018 long-term incentive awards. The deferred shares will vest in five equal annual instalments commencing from March 2022 and will be subject to a one -year retention period post vest. Awards will be subject to our malus and clawback policy and any future vesting adjustment that may be applied and disclosed by RBS in their Directors’ remuneration report (or that we have been made aware of by RBS). 5 Deferred award granted in lieu of awards granted by RBS in March 2015 and which were not subject to any further performance conditions at the time of forfeiture by RBS. The deferred shares will vest in March 2020 and will be subject to a six -month retention period. 6 Deferred awards granted in lieu of awards granted by RBS in March 2016 and adjusted for the performance outcome as disclosed in RBS’s Annual Report and Accounts 2018 . The deferred shares will vest in two equal annual instalments in March 2020 and March 2021, and on vesting, the shares will be subject to a six -month retention period. 7 Deferred award granted in lieu of awards granted by RBS in March 2017. These awards will be subject to performance adjustment as applied and disclosed in RBS’s Annual Report and Accounts 2019 . The deferred shares will vest in annual instalments between March 2021 and March 2024. On vesting, the shares will be subject to a six -month retention perio d. 8 Deferred award granted in lieu of awards granted by RBS in March 2018. Th ese awards will be subject to any 'pre-vest performance test' assessed and disclosed by RBS in its Annual Report and Accounts 2020 . The deferred shares will vest in equal annual instalments between March 2021 and March 2025. On vesting the shares will be subject to a one -year retention period. 9 Noel Quinn was not an executive Director at the date of these awards. These awards were part of his discretionary annual incentive award for performance achieved during the period to 31 December 2018. The awards will vest in five equal annual instalments between the third and seventh anniversary of the award date. On vesting, the deferred shares will be subject to a one -year retention period. As the deferred share awards are not eligible for dividend equivalents, the number of shares to be granted was determined by taking into account a share price discounted based on HSBC’s expected dividend yield of 5% per annum for the vesting period (i.e. £4.867 ). |
Disclosure of directors' interest in share options | Shares (Audited) Shareholding guidelines (% of salary) Shareholding at 31 Dec 2019, or date stepped down from the Board, if earlier 2 (% of salary) At 31 Dec 2019, or date stepped down from the Board, if earlier Scheme interests Share interests (number of shares) Share options 3 Shares awarded subject to deferral 1 without performance conditions 4 with performance conditions 5 Executive Directors Noel Quinn (appointed 5 August 2019) 400% 210 % 441,925 — 390,806 — John Flint (stepped down on 5 August 2019) 400% 504 % 1,060,599 5,505 372,335 788,933 Ewen Stevenson (appointed 1 January 2019) 300% 191 % 233,972 — 945,921 — Marc Moses 300% 1,450 % 1,777,688 — 569,173 1,252,464 Group Managing Directors 6 250% n/a n/a n/a n/a n/a 1 The gross number of shares is disclosed. A portion of these shares will be sold at vesting to cover any income tax and social security that falls due at the time of vesting. 2 The value of the shareholding is calculated using an average of the daily closing share prices in the three months to 31 December 2019 ( £5.896 ). 3 All share options are unexercised. 4 Includes Group Performance Share Plan ('GPSP') awards, which were made following an assessment of performance over the relevant period ending on 31 December before the grant date, but are subject to a five -year vesting period. 5 LTI awards granted in February 2017 are subject to the performance conditions as set out in the 'Determining executive Directors' performance' section on page 228 . LTI awards granted in February 2018 are subject to the performance conditions as disclosed in the Annual Report and Accounts 2017 . LTI awards granted in February 2019 are subject to the performance conditions as set out on page 233 . 6 All Group Managing Directors are expected to meet their shareholding guidelines within five years of the date of their appointment. The shareholding guidelines for Group Managing Directors have been updated from 250,000 shares to 250% of reference salary from 1 January 2019 to align with the approach used for executive Directors. Share options (Audited) Date of award Exercise price Exercisable At 1 Jan 2019 Granted in year Exercised in year 1 At 5 August 2019 (date stepped down) £ from until John Flint 21 Sep 18 5.4490 1 Nov 23 30 Apr 24 5,505 — — 5,505 22 Sep 15 4.0472 1 Nov 18 30 Apr 19 4,447 — 4,447 0 1 John Flint exercised 4,447 Sharesave options on 13 March 2019. The HSBC closing price on this date was |
Disclosure of non-executive director compensation | The following table shows the total fees and benefits of non-executive Directors for 2019, together with comparative figures for 2018. Fees and benefits (Audited) Fees 1 Benefits 2 Total (£000) Footnotes 2019 2018 2019 2018 2019 2018 Kathleen Casey 3 223 171 9 23 232 194 Henri de Castries 194 161 4 4 198 165 Laura Cha 4 298 255 — 13 298 268 Lord Evans of Weardale (retired on 12 April 2019) 55 200 24 2 79 202 Irene Lee 5 454 361 3 5 457 366 José Antonio Meade Kuribreña 6 157 — 2 — 159 — Heidi Miller 7 625 573 2 9 627 582 David Nish 230 187 16 11 246 198 Sir Jonathan Symonds 638 653 21 1 659 654 Jackson Tai 8 398 228 57 47 455 275 Mark Tucker 9 1,500 1,500 231 97 1,731 1,597 Pauline van der Meer Mohr 265 239 8 17 273 256 Total 5,037 4,528 377 229 5,414 4,757 Total ($000) 6,425 6,039 481 305 6,906 6,344 1 The Director’s remuneration policy was approved at the 2019 AGM and the new fees became effective from 13 April 2019. Fees include a travel allowance of £4,000 for non-UK based non-executive Directors and for all non-executive Directors effective from 1 June 2019. 2 Benefits include taxable expenses such as accommodation, travel and subsistence relating to attendance at Board and other meetings at HSBC Holdings' registered office. Amounts disclosed have been grossed up using a tax rate of 45% , where relevant. 3 Reappointed as a member of the Financial System Vulnerabilities Committee on 12 April 2019. 4 Includes fees of £104,000 in 2019 (2018: £80,000 ) as a Director, Deputy Chairman and member of the Nomination Committee of The Hongkong and Shanghai Banking Corporation Limited. 5 Includes fees of £260,000 in 2019 (2018: £210,000 ) as a Director, Chair of the Remuneration Committee, and member of the Audit Committee and the Risk Committee of The Hongkong and Shanghai Banking Corporation Limited and as a Director, Chair of the Risk Committee and member of the Audit Committee of Hang Seng Bank Limited. 6 Appointed as a member of the Board and the Nomination & Corporate Governance Committee on 1 March 2019, and as a member of the Group Risk Committee on 1 June 2019. 7 Includes fees of £431,000 in 2019 (2018: £412,000 ) as Chair of HSBC North American Holdings Inc. 8 Appointed as a Chair of the Financial System Vulnerabilities Committee on 12 April 2019. 9 The Group Chairman’s benefits in 2019 included £13,020 in respect of life assurance and £19,126 in respect of healthcare insurance, as approved by the Group Remuneration Committee. The shareholdings of persons who were non-executive Directors in 2019, including the shareholdings of their connected persons, at five years of the date of their appointment. All non-executive Directors who had been appointed for five years or more at 31 December 2019 met the guidelines. Shares Shareholding guidelines (number of shares) Share interests (number of shares) Kathleen Casey 15,000 15,125 Laura Cha 15,000 16,200 Henri de Castries 15,000 19,251 Lord Evans of Weardale (retired on 12 April 2019) 15,000 12,892 Irene Lee 15,000 11,904 José Antonio Meade Kuribreña (appointed on 1 March 2019) 15,000 — Heidi Miller 15,000 15,700 David Nish 15,000 50,000 Sir Jonathan Symonds 15,000 43,821 Jackson Tai 15,000 66,515 Mark Tucker 15,000 307,352 Pauline van der Meer Mohr 15,000 15,000 Compensation of Key Management Personnel 2019 2018 2017 $m $m $m Short-term employee benefits 64 52 43 Other long-term employee benefits 8 6 5 Share-based payments 27 34 35 Year ended 31 Dec 99 92 83 |
Basis of preparation and sign_3
Basis of preparation and significant accounting policies (Details) - USD ($) | 12 Months Ended | ||||||
Dec. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Disclosure of expected impact of initial application of new standards or interpretations [line items] | |||||||
Total assets | $ 2,715,152,000,000 | $ 2,558,124,000,000 | $ 2,521,771,000,000 | ||||
Financial liabilities | 2,409,361,000,000 | 2,260,288,000,000 | |||||
Total equity | $ 192,668,000,000 | 194,249,000,000 | $ 196,224,000,000 | 197,871,000,000 | $ 182,578,000,000 | ||
Lease term, planning horizon | 5 years | ||||||
IFRS 16 | |||||||
Disclosure of expected impact of initial application of new standards or interpretations [line items] | |||||||
Total assets | $ 5,000,000,000 | ||||||
Financial liabilities | 5,000,000,000 | ||||||
Assets (liabilities) | 0 | ||||||
Retained earnings | |||||||
Disclosure of expected impact of initial application of new standards or interpretations [line items] | |||||||
Total equity | [1],[2] | $ 136,679,000,000 | $ 138,191,000,000 | $ 139,414,000,000 | $ 139,999,000,000 | $ 136,795,000,000 | |
Retained earnings | IFRS 16 | |||||||
Disclosure of expected impact of initial application of new standards or interpretations [line items] | |||||||
Total equity | $ 0 | ||||||
Retail Overdrafts And Credit Cards [Member] | Bottom of range | |||||||
Disclosure of expected impact of initial application of new standards or interpretations [line items] | |||||||
Expected Credit Loss Measurement Period | 2 years | ||||||
Retail Overdrafts And Credit Cards [Member] | Top of range | |||||||
Disclosure of expected impact of initial application of new standards or interpretations [line items] | |||||||
Expected Credit Loss Measurement Period | 6 years | ||||||
[1] | At 31 December 2019, retained earnings included 432,108,782 treasury shares (2018: 379,926,645; 2017: 360,590,019). In addition, treasury shares are also held within HSBC’s Insurance business retirement funds for the benefit of policyholders or beneficiaries within employee trusts for the settlement of shares expected to be delivered under employee share schemes or bonus plans, and the market-making activities in Global Markets. | ||||||
[2] | Cumulative goodwill amounting to $5,138m has been charged against reserves in respect of acquisitions of subsidiaries prior to 1 January 1998, including $3,469m charged against the merger reserve arising on the acquisition of HSBC Bank plc. The balance of $1,669m has been charged against retained earnings. |
Net fee income - Summary of net
Net fee income - Summary of net fee income (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Analysis Of Income And Expense [Line Items] | |||
Funds under management | $ 2,177 | $ 2,221 | $ 2,188 |
Account services | 2,003 | 2,177 | 2,244 |
Cards | 1,975 | 1,956 | 1,994 |
Credit facilities | 1,618 | 1,723 | 1,718 |
Broking income | 1,057 | 1,210 | 1,191 |
Unit trusts | 1,035 | 1,038 | 1,010 |
Underwriting | 829 | 723 | 829 |
Remittances | 747 | 778 | 759 |
Global custody | 717 | 736 | 692 |
Imports/exports | 662 | 709 | 736 |
Insurance agency commission | 377 | 404 | 410 |
Other | 2,242 | 2,369 | 2,082 |
Fee income | 15,439 | 16,044 | 15,853 |
Less: fee expense | (3,416) | (3,424) | (3,042) |
Net fee income | 12,023 | 12,620 | $ 12,811 |
Retail Banking and Wealth Management | |||
Disclosure Of Analysis Of Income And Expense [Line Items] | |||
Funds under management | 1,295 | 1,383 | |
Account services | 890 | 991 | |
Cards | 1,602 | 1,575 | |
Credit facilities | 75 | 71 | |
Broking income | 366 | 494 | |
Unit trusts | 921 | 937 | |
Underwriting | 0 | 1 | |
Remittances | 73 | 96 | |
Global custody | 90 | 100 | |
Imports/exports | 0 | 3 | |
Insurance agency commission | 324 | 354 | |
Other | 1,097 | 1,110 | |
Fee income | 6,733 | 7,115 | |
Less: fee expense | (1,861) | (1,917) | |
Net fee income | 4,872 | 5,198 | |
Commercial Banking | |||
Disclosure Of Analysis Of Income And Expense [Line Items] | |||
Funds under management | 120 | 134 | |
Account services | 654 | 748 | |
Cards | 358 | 370 | |
Credit facilities | 785 | 824 | |
Broking income | 40 | 44 | |
Unit trusts | 22 | 25 | |
Underwriting | 6 | 10 | |
Remittances | 362 | 357 | |
Global custody | 18 | 18 | |
Imports/exports | 497 | 532 | |
Insurance agency commission | 20 | 23 | |
Other | 891 | 858 | |
Fee income | 3,773 | 3,943 | |
Less: fee expense | (370) | (388) | |
Net fee income | 3,403 | 3,555 | |
Global Banking and Markets | |||
Disclosure Of Analysis Of Income And Expense [Line Items] | |||
Funds under management | 460 | 421 | |
Account services | 365 | 332 | |
Cards | 15 | 16 | |
Credit facilities | 743 | 813 | |
Broking income | 532 | 533 | |
Unit trusts | 2 | 3 | |
Underwriting | 821 | 708 | |
Remittances | 311 | 320 | |
Global custody | 564 | 584 | |
Imports/exports | 164 | 176 | |
Insurance agency commission | 1 | 1 | |
Other | 2,362 | 2,362 | |
Fee income | 6,340 | 6,269 | |
Less: fee expense | (3,287) | (3,040) | |
Net fee income | 3,053 | 3,229 | |
Global Private Banking | |||
Disclosure Of Analysis Of Income And Expense [Line Items] | |||
Funds under management | 302 | 284 | |
Account services | 101 | 106 | |
Cards | 0 | 0 | |
Credit facilities | 15 | 16 | |
Broking income | 119 | 139 | |
Unit trusts | 90 | 73 | |
Underwriting | 3 | 4 | |
Remittances | 4 | 5 | |
Global custody | 45 | 35 | |
Imports/exports | 1 | 2 | |
Insurance agency commission | 32 | 27 | |
Other | 193 | 186 | |
Fee income | 905 | 877 | |
Less: fee expense | (134) | (135) | |
Net fee income | 771 | 742 | |
Corporate Centre | |||
Disclosure Of Analysis Of Income And Expense [Line Items] | |||
Funds under management | 0 | (1) | |
Account services | (7) | 0 | |
Cards | 0 | (5) | |
Credit facilities | 0 | (1) | |
Broking income | 0 | 0 | |
Unit trusts | 0 | 0 | |
Underwriting | (1) | 0 | |
Remittances | (3) | 0 | |
Global custody | 0 | (1) | |
Imports/exports | 0 | (4) | |
Insurance agency commission | 0 | (1) | |
Other | (2,301) | (2,147) | |
Fee income | (2,312) | (2,160) | |
Less: fee expense | 2,236 | 2,056 | |
Net fee income | $ (76) | $ (104) |
Net fee income - Narrative (Det
Net fee income - Narrative (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Analysis of income and expense [abstract] | |||
Fee income arising from financial assets not at fair value through profit or loss | $ 6,647 | $ 7,522 | $ 7,577 |
Fee expense arising from financial liabilities not at fair value through profit or loss | 1,450 | 1,682 | 1,475 |
Fee income arising from trust and fiduciary activities | 3,110 | 3,165 | 3,088 |
Fee expense arising from trust and fiduciary activities | $ 237 | $ 175 | $ 134 |
Net income from financial ins_3
Net income from financial instruments measured at fair value through profit and loss - Net income/(expense) arising from financial instruments measured at fair value through profit or loss (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Disclosure of financial assets and liabilities [Line Items] | ||||
Net income from financial instruments held for trading or managed on a fair value basis | $ 10,231 | $ 9,531 | $ 8,426 | |
Net income/(expense) from assets and liabilities of insurance businesses, including related derivatives, measured at fair value through profit or loss | 3,478 | (1,488) | 2,836 | |
Changes in fair value of designated debt and related derivatives | [1] | 90 | (97) | 155 |
Changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss | 812 | 695 | ||
Net income/expense from financial instruments measured at fair value through profit and loss | 14,611 | 8,641 | 11,417 | |
Liabilities to customers under investment contracts | ||||
Disclosure of financial assets and liabilities [Line Items] | ||||
Net income/(expense) from assets and liabilities of insurance businesses, including related derivatives, measured at fair value through profit or loss | (352) | 97 | (375) | |
Derivatives managed in conjunction with HSBC’s issued debt securities | ||||
Disclosure of financial assets and liabilities [Line Items] | ||||
Changes in fair value of designated debt and related derivatives | 2,561 | (626) | (343) | |
Other changes in fair value | ||||
Disclosure of financial assets and liabilities [Line Items] | ||||
Changes in fair value of designated debt and related derivatives | (2,471) | 529 | 498 | |
Trading securities | ||||
Disclosure of financial assets and liabilities [Line Items] | ||||
Net income from financial instruments held for trading or managed on a fair value basis | 16,121 | 6,982 | 8,236 | |
Other instruments managed on a fair value basis | ||||
Disclosure of financial assets and liabilities [Line Items] | ||||
Net income from financial instruments held for trading or managed on a fair value basis | (5,890) | 2,549 | 190 | |
Financial assets held to meet liabilities under insurance and investment contracts | ||||
Disclosure of financial assets and liabilities [Line Items] | ||||
Net income/(expense) from assets and liabilities of insurance businesses, including related derivatives, measured at fair value through profit or loss | $ 3,830 | $ (1,585) | $ 3,211 | |
[1] | The debt instruments, issued for funding purposes, are designated under the fair value option to reduce an accounting mismatch. |
Net income from financial ins_4
Net income from financial instruments measured at fair value through profit and loss - HSBC Holdings – Net income/(expense) arising from financial instruments measured at fair value through profit or loss (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Disclosure of financial liabilities [line items] | ||||
Net income from financial instruments held for trading or managed on a fair value basis | $ 10,231 | $ 9,531 | $ 8,426 | |
Changes in fair value of designated debt and related derivatives | [1] | 90 | (97) | 155 |
Changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss | 812 | 695 | ||
Net income/expense from financial instruments measured at fair value through profit and loss | 14,611 | 8,641 | 11,417 | |
HSBC Holdings | ||||
Disclosure of financial liabilities [line items] | ||||
Net income from financial instruments held for trading or managed on a fair value basis | 1,477 | 245 | (181) | |
Changes in fair value of designated debt and related derivatives | [2] | (360) | (77) | 103 |
Changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss | 1,659 | 43 | 0 | |
Net income/expense from financial instruments measured at fair value through profit and loss | 2,776 | 211 | (78) | |
Derivatives managed in conjunction with HSBC’s issued debt securities | ||||
Disclosure of financial liabilities [line items] | ||||
Changes in fair value of designated debt and related derivatives | 2,561 | (626) | (343) | |
Derivatives managed in conjunction with HSBC’s issued debt securities | HSBC Holdings | ||||
Disclosure of financial liabilities [line items] | ||||
Changes in fair value of designated debt and related derivatives | 764 | (337) | 292 | |
Other changes in fair value | ||||
Disclosure of financial liabilities [line items] | ||||
Changes in fair value of designated debt and related derivatives | (2,471) | 529 | 498 | |
Other changes in fair value | HSBC Holdings | ||||
Disclosure of financial liabilities [line items] | ||||
Changes in fair value of designated debt and related derivatives | (1,124) | 260 | (189) | |
Trading securities | ||||
Disclosure of financial liabilities [line items] | ||||
Net income from financial instruments held for trading or managed on a fair value basis | 16,121 | 6,982 | 8,236 | |
Trading securities | HSBC Holdings | ||||
Disclosure of financial liabilities [line items] | ||||
Net income from financial instruments held for trading or managed on a fair value basis | (559) | (176) | (392) | |
Other instruments managed on a fair value basis | ||||
Disclosure of financial liabilities [line items] | ||||
Net income from financial instruments held for trading or managed on a fair value basis | (5,890) | 2,549 | 190 | |
Other instruments managed on a fair value basis | HSBC Holdings | ||||
Disclosure of financial liabilities [line items] | ||||
Net income from financial instruments held for trading or managed on a fair value basis | $ 2,036 | $ 421 | $ 211 | |
[1] | The debt instruments, issued for funding purposes, are designated under the fair value option to reduce an accounting mismatch. | |||
[2] | The debt instruments, issued for funding purposes, are designated under the fair value option to reduce an accounting mismatch. |
Insurance business - Net Insur
Insurance business - Net Insurance Premium Income (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of net, gross and reinsurer's share for amounts arising from insurance contracts [line items] | |||
Net insurance premium income | $ 10,636 | $ 10,659 | $ 9,779 |
Gross insurance premium income | |||
Disclosure of net, gross and reinsurer's share for amounts arising from insurance contracts [line items] | |||
Net insurance premium income | 12,108 | 11,338 | 10,802 |
Reinsurers’ share of gross insurance premium income | |||
Disclosure of net, gross and reinsurer's share for amounts arising from insurance contracts [line items] | |||
Net insurance premium income | (1,472) | (679) | (1,023) |
Non-linked insurance | |||
Disclosure of net, gross and reinsurer's share for amounts arising from insurance contracts [line items] | |||
Net insurance premium income | 7,888 | 7,944 | 7,408 |
Non-linked insurance | Gross insurance premium income | |||
Disclosure of net, gross and reinsurer's share for amounts arising from insurance contracts [line items] | |||
Net insurance premium income | 9,353 | 8,616 | 8,424 |
Non-linked insurance | Reinsurers’ share of gross insurance premium income | |||
Disclosure of net, gross and reinsurer's share for amounts arising from insurance contracts [line items] | |||
Net insurance premium income | (1,465) | (672) | (1,016) |
Linked life insurance | |||
Disclosure of net, gross and reinsurer's share for amounts arising from insurance contracts [line items] | |||
Net insurance premium income | 482 | 415 | 344 |
Linked life insurance | Gross insurance premium income | |||
Disclosure of net, gross and reinsurer's share for amounts arising from insurance contracts [line items] | |||
Net insurance premium income | 489 | 422 | 351 |
Linked life insurance | Reinsurers’ share of gross insurance premium income | |||
Disclosure of net, gross and reinsurer's share for amounts arising from insurance contracts [line items] | |||
Net insurance premium income | (7) | (7) | (7) |
Investment contracts with DPF | |||
Disclosure of net, gross and reinsurer's share for amounts arising from insurance contracts [line items] | |||
Net insurance premium income | 2,266 | 2,300 | 2,027 |
Investment contracts with DPF | Gross insurance premium income | |||
Disclosure of net, gross and reinsurer's share for amounts arising from insurance contracts [line items] | |||
Net insurance premium income | 2,266 | 2,300 | 2,027 |
Investment contracts with DPF | Reinsurers’ share of gross insurance premium income | |||
Disclosure of net, gross and reinsurer's share for amounts arising from insurance contracts [line items] | |||
Net insurance premium income | $ 0 | $ 0 | $ 0 |
Insurance business - Net Ins_2
Insurance business - Net Insurance Claims And Benefits Paid And Movement In Liabilities To Policyholders (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of net, gross and reinsurer's share for amounts arising from insurance contracts [line items] | |||
Net insurance claims and benefits paid and movement in liabilities to policyholders | $ 14,926 | $ 9,807 | $ 12,331 |
Non-linked insurance | |||
Disclosure of net, gross and reinsurer's share for amounts arising from insurance contracts [line items] | |||
Net insurance claims and benefits paid and movement in liabilities to policyholders | 9,903 | 8,338 | 7,952 |
Linked life insurance | |||
Disclosure of net, gross and reinsurer's share for amounts arising from insurance contracts [line items] | |||
Net insurance claims and benefits paid and movement in liabilities to policyholders | 1,213 | (255) | 1,478 |
Investment contracts with DPF | |||
Disclosure of net, gross and reinsurer's share for amounts arising from insurance contracts [line items] | |||
Net insurance claims and benefits paid and movement in liabilities to policyholders | 3,810 | 1,724 | 2,901 |
Gross insurance premium income | |||
Disclosure of net, gross and reinsurer's share for amounts arising from insurance contracts [line items] | |||
Net insurance claims and benefits paid and movement in liabilities to policyholders | 16,332 | 10,221 | 13,208 |
– claims, benefits and surrenders paid | 6,604 | 6,809 | 5,929 |
– movement in liabilities | 9,728 | 3,412 | 7,279 |
Gross insurance premium income | Non-linked insurance | |||
Disclosure of net, gross and reinsurer's share for amounts arising from insurance contracts [line items] | |||
Net insurance claims and benefits paid and movement in liabilities to policyholders | 11,305 | 8,943 | 8,894 |
– claims, benefits and surrenders paid | 3,783 | 3,852 | 2,883 |
– movement in liabilities | 7,522 | 5,091 | 6,011 |
Gross insurance premium income | Linked life insurance | |||
Disclosure of net, gross and reinsurer's share for amounts arising from insurance contracts [line items] | |||
Net insurance claims and benefits paid and movement in liabilities to policyholders | 1,217 | (446) | 1,413 |
– claims, benefits and surrenders paid | 900 | 1,088 | 1,044 |
– movement in liabilities | 317 | (1,534) | 369 |
Gross insurance premium income | Investment contracts with DPF | |||
Disclosure of net, gross and reinsurer's share for amounts arising from insurance contracts [line items] | |||
Net insurance claims and benefits paid and movement in liabilities to policyholders | 3,810 | 1,724 | 2,901 |
– claims, benefits and surrenders paid | 1,921 | 1,869 | 2,002 |
– movement in liabilities | 1,889 | (145) | 899 |
Reinsurers’ share of gross insurance premium income | |||
Disclosure of net, gross and reinsurer's share for amounts arising from insurance contracts [line items] | |||
Net insurance claims and benefits paid and movement in liabilities to policyholders | (1,406) | (414) | (877) |
– claims, benefits and surrenders paid | (428) | (492) | (520) |
– movement in liabilities | (978) | 78 | (357) |
Reinsurers’ share of gross insurance premium income | Non-linked insurance | |||
Disclosure of net, gross and reinsurer's share for amounts arising from insurance contracts [line items] | |||
Net insurance claims and benefits paid and movement in liabilities to policyholders | (1,402) | (605) | (942) |
– claims, benefits and surrenders paid | (411) | (311) | (297) |
– movement in liabilities | (991) | (294) | (645) |
Reinsurers’ share of gross insurance premium income | Linked life insurance | |||
Disclosure of net, gross and reinsurer's share for amounts arising from insurance contracts [line items] | |||
Net insurance claims and benefits paid and movement in liabilities to policyholders | (4) | 191 | 65 |
– claims, benefits and surrenders paid | (17) | (181) | (223) |
– movement in liabilities | 13 | 372 | 288 |
Reinsurers’ share of gross insurance premium income | Investment contracts with DPF | |||
Disclosure of net, gross and reinsurer's share for amounts arising from insurance contracts [line items] | |||
Net insurance claims and benefits paid and movement in liabilities to policyholders | 0 | 0 | 0 |
– claims, benefits and surrenders paid | 0 | 0 | 0 |
– movement in liabilities | $ 0 | $ 0 | $ 0 |
Insurance business - Liabiliti
Insurance business - Liabilities under insurance contracts (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Jan. 01, 2018 | |
Reconciliation of changes in liabilities under insurance contracts and reinsurance contracts issued [abstract] | |||
Gross liabilities under insurance contracts beginning of period | $ 84,824 | ||
Impact on transition to IFRS 9 | $ (69) | ||
Claims and benefits paid | (6,604) | $ (6,809) | |
Increase in liabilities to policyholders | 16,332 | 10,221 | |
Exchange differences and other movements | 381 | (1,680) | |
Gross liabilities under insurance contracts end of period | 93,847 | 84,824 | |
Non-linked insurance | |||
Reconciliation of changes in liabilities under insurance contracts and reinsurance contracts issued [abstract] | |||
Gross liabilities under insurance contracts beginning of period | 54,845 | ||
Impact on transition to IFRS 9 | (69) | ||
Claims and benefits paid | (3,804) | (3,852) | |
Increase in liabilities to policyholders | 11,326 | 8,943 | |
Exchange differences and other movements | 519 | 149 | |
Gross liabilities under insurance contracts end of period | 61,803 | 54,845 | |
Linked life insurance | |||
Reconciliation of changes in liabilities under insurance contracts and reinsurance contracts issued [abstract] | |||
Gross liabilities under insurance contracts beginning of period | 5,721 | ||
Impact on transition to IFRS 9 | 0 | ||
Claims and benefits paid | (900) | (1,088) | |
Increase in liabilities to policyholders | 1,217 | (446) | |
Exchange differences and other movements | 45 | (225) | |
Gross liabilities under insurance contracts end of period | 6,080 | 5,721 | |
Investment contracts with DPF | |||
Reconciliation of changes in liabilities under insurance contracts and reinsurance contracts issued [abstract] | |||
Gross liabilities under insurance contracts beginning of period | 24,258 | ||
Impact on transition to IFRS 9 | $ 0 | ||
Claims and benefits paid | (1,900) | (1,869) | |
Increase in liabilities to policyholders | 3,789 | 1,724 | |
Exchange differences and other movements | (183) | (1,604) | |
Gross liabilities under insurance contracts end of period | 25,964 | 24,258 | |
Gross insurance premium income | |||
Reconciliation of changes in liabilities under insurance contracts and reinsurance contracts issued [abstract] | |||
Gross liabilities under insurance contracts beginning of period | 87,330 | 85,667 | |
Gross liabilities under insurance contracts end of period | 97,439 | 87,330 | |
Gross insurance premium income | Non-linked insurance | |||
Reconciliation of changes in liabilities under insurance contracts and reinsurance contracts issued [abstract] | |||
Gross liabilities under insurance contracts beginning of period | 57,283 | 52,112 | |
Gross liabilities under insurance contracts end of period | 65,324 | 57,283 | |
Gross insurance premium income | Linked life insurance | |||
Reconciliation of changes in liabilities under insurance contracts and reinsurance contracts issued [abstract] | |||
Gross liabilities under insurance contracts beginning of period | 5,789 | 7,548 | |
Gross liabilities under insurance contracts end of period | 6,151 | 5,789 | |
Gross insurance premium income | Investment contracts with DPF | |||
Reconciliation of changes in liabilities under insurance contracts and reinsurance contracts issued [abstract] | |||
Gross liabilities under insurance contracts beginning of period | 24,258 | 26,007 | |
Gross liabilities under insurance contracts end of period | 25,964 | 24,258 | |
Reinsurers’ share of gross insurance premium income | |||
Reconciliation of changes in liabilities under insurance contracts and reinsurance contracts issued [abstract] | |||
Gross liabilities under insurance contracts beginning of period | (2,506) | ||
Gross liabilities under insurance contracts end of period | (3,592) | (2,506) | |
Reinsurers’ share of gross insurance premium income | Non-linked insurance | |||
Reconciliation of changes in liabilities under insurance contracts and reinsurance contracts issued [abstract] | |||
Gross liabilities under insurance contracts beginning of period | (2,438) | ||
Gross liabilities under insurance contracts end of period | (3,521) | (2,438) | |
Reinsurers’ share of gross insurance premium income | Linked life insurance | |||
Reconciliation of changes in liabilities under insurance contracts and reinsurance contracts issued [abstract] | |||
Gross liabilities under insurance contracts beginning of period | (68) | ||
Gross liabilities under insurance contracts end of period | (71) | (68) | |
Reinsurers’ share of gross insurance premium income | Investment contracts with DPF | |||
Reconciliation of changes in liabilities under insurance contracts and reinsurance contracts issued [abstract] | |||
Gross liabilities under insurance contracts beginning of period | 0 | ||
Gross liabilities under insurance contracts end of period | $ 0 | $ 0 |
Employee compensation and ben_3
Employee compensation and benefits - Employee compensation and benefits (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Employee Compensation And Benefits [Abstract] | |||
Wages and salaries | $ 15,581 | $ 14,751 | $ 15,227 |
Social security costs | 1,472 | 1,490 | 1,419 |
Post-employment benefits | 949 | 1,132 | 669 |
Employee compensation and benefits | $ 18,002 | $ 17,373 | $ 17,315 |
Employee compensation and ben_4
Employee compensation and benefits - Average number of persons employed by HSBC during the year by global business (Details) - employee | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of operating segments [line items] | |||
Average number of employees | 247,055 | 242,850 | 244,788 |
Retail Banking and Wealth Management | |||
Disclosure of operating segments [line items] | |||
Average number of employees | 141,044 | 135,239 | 134,021 |
Commercial Banking | |||
Disclosure of operating segments [line items] | |||
Average number of employees | 46,416 | 48,757 | 46,716 |
Global Banking and Markets | |||
Disclosure of operating segments [line items] | |||
Average number of employees | 51,127 | 48,990 | 49,100 |
Global Private Banking | |||
Disclosure of operating segments [line items] | |||
Average number of employees | 7,099 | 8,206 | 7,817 |
Corporate Centre | |||
Disclosure of operating segments [line items] | |||
Average number of employees | 1,369 | 1,658 | 7,134 |
Employee compensation and ben_5
Employee compensation and benefits - Average number of persons employed by HSBC during the year by geographical region (Details) - employee | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of geographical areas [line items] | |||
Average number of employees | 247,055 | 242,850 | 244,788 |
Europe | |||
Disclosure of geographical areas [line items] | |||
Average number of employees | 66,392 | 67,007 | 70,301 |
Asia | |||
Disclosure of geographical areas [line items] | |||
Average number of employees | 133,624 | 127,992 | 125,004 |
Middle East and North Africa | |||
Disclosure of geographical areas [line items] | |||
Average number of employees | 9,798 | 9,798 | 10,408 |
North America | |||
Disclosure of geographical areas [line items] | |||
Average number of employees | 16,615 | 17,350 | 18,610 |
Latin America | |||
Disclosure of geographical areas [line items] | |||
Average number of employees | 20,626 | 20,703 | 20,465 |
Employee compensation and ben_6
Employee compensation and benefits - Reconciliation of total incentive awards granted to income statement charge (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Employee Compensation And Benefits [Abstract] | |||
Total incentive awards approved for the current year | $ 3,341 | $ 3,473 | $ 3,303 |
Less: deferred bonuses awarded, expected to be recognised in future periods | (337) | (351) | (337) |
Total incentives awarded and recognised in the current year | 3,004 | 3,122 | 2,966 |
Add: current year charges for deferred bonuses from previous years | 327 | 322 | 336 |
Other | (55) | (70) | (78) |
Income statement charge for incentive awards | $ 3,276 | $ 3,374 | $ 3,224 |
Employee compensation and ben_7
Employee compensation and benefits - Share-based payments (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Employee Compensation And Benefits [Abstract] | |||
Expense from equity-settled share-based payment transactions in which goods or services received did not qualify for recognition as assets | $ 478 | $ 450 | $ 500 |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Expense from share-based payments | 551 | 522 | 546 |
Conditional share awards | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Expense from share-based payments | 521 | 499 | 520 |
Savings-related and other share award option plans | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Expense from share-based payments | $ 30 | $ 23 | $ 26 |
Employee compensation and ben_8
Employee compensation and benefits - HSBC share awards (Details) | 12 Months Ended |
Dec. 31, 2019GBP (£)jursidiction | |
Deferred Restricted Share Awards | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Award vesting period | 5 years |
International Employee Share Purchase Plan | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Number of jurisdictions with plan participants | jursidiction | 27 |
Maximum value of shares per employee per quarter | £ | £ 750 |
Award matching ratio | 0.3333 |
Award vesting period, maximum period from purchase of shares | 2 years 9 months |
Bottom of range | Deferred Restricted Share Awards | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Award vesting period | 3 years |
Top of range | Deferred Restricted Share Awards | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Award vesting period | 7 years |
Employee compensation and ben_9
Employee compensation and benefits - Movement on HSBC share awards (Details) - Conditional share awards shares in Thousands | 12 Months Ended | |
Dec. 31, 2019USD ($)shares | Dec. 31, 2018USD ($)shares | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Share awards outstanding at 1 Jan (in shares) | 94,897 | 104,525 |
Additions during the year (in shares) | 71,858 | 61,569 |
Released in the year (in shares) | (67,737) | (67,899) |
Forfeited in the year (in shares) | (1,963) | (3,298) |
Share awards outstanding at 31 Dec (in shares) | 97,055 | 94,897 |
Weighted average fair value of awards granted (in dollars per share) | $ | $ 7.89 | $ 7.66 |
Employee compensation and be_10
Employee compensation and benefits - HSBC share option plans (Details) - Savings-related Share Option Plans - GBP (£) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Employee monthly savings | £ 500 | |
Term of options granted for share-based payment arrangements | 6 months | |
Exercise price discount | 20.00% | 20.00% |
Bottom of range | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Award vesting period | 3 years | |
Top of range | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Award vesting period | 5 years |
Employee compensation and be_11
Employee compensation and benefits - Movement on HSBC share option plans (Details) shares in Thousands | 12 Months Ended | |||||
Dec. 31, 2019USD ($)sharesyear | Dec. 31, 2019GBP (£)shares | Dec. 31, 2018USD ($)sharesyear | Dec. 31, 2018GBP (£)shares | Dec. 31, 2019GBP (£)sharesyear | Dec. 31, 2018GBP (£)sharesyear | |
Employee Compensation And Benefits [Abstract] | ||||||
Share options outstanding at beginning of period (in shares) | shares | 57,065 | 57,065 | 64,670 | 64,670 | ||
Granted during the year (in shares) | shares | 32,130 | 32,130 | 20,501 | 20,501 | ||
Exercised during the year (in shares) | shares | (11,806) | (11,806) | (23,260) | (23,260) | ||
Expired during the year (in shares) | shares | (11,321) | (11,321) | (3,148) | (3,148) | ||
Forfeited during the year (in shares) | shares | (1,008) | (1,008) | (1,698) | (1,698) | ||
Share options outstanding at end of period (in shares) | shares | 65,060 | 65,060 | 57,065 | 57,065 | ||
Of which exercisable (in shares) | shares | 2,149 | 3,513 | 2,149 | 3,513 | ||
WAEP at beginning of period | £ | £ 4.92 | £ 4.49 | ||||
Granted during the year | £ | 4.69 | 5.45 | ||||
Exercised during the year | £ | 4.40 | 4.14 | ||||
Expired during the year | £ | 5.46 | 5.20 | ||||
Forfeited during the year | £ | 4.99 | 4.53 | ||||
WAEP at end of period | £ | £ 4.81 | £ 4.92 | ||||
Of which exercisable | £ | £ 4.53 | £ 4.09 | ||||
Weighted average remaining contractual life (years) | year | 2.77 | 2.59 | 2.77 | 2.59 | ||
Weighted average fair value of options granted | $ | $ 1.36 | $ 1.40 | ||||
Weighted average share price at the date the options were exercise | $ | $ 7.99 | $ 8.28 |
Employee compensation and be_12
Employee compensation and benefits - Post-employment benefit plans (Details) £ in Millions, $ in Millions | 12 Months Ended | |||||
Dec. 31, 2019USD ($) | Dec. 31, 2019GBP (£) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2016GBP (£) | |
Disclosure of defined benefit plans [line items] | ||||||
Defined contribution assets | $ 6,510 | $ 5,767 | ||||
Estimate of contributions expected to be paid to plan | 384 | |||||
Pension Plan | ||||||
Disclosure of defined benefit plans [line items] | ||||||
Defined contribution assets | 6,969 | 6,181 | ||||
Pension Plan | Principal plan | ||||||
Disclosure of defined benefit plans [line items] | ||||||
Fair value of plan assets | 37,874 | 34,074 | $ 38,100 | £ 28,800 | ||
Surplus (deficit) in plan | $ 1,900 | £ 1,400 | ||||
Percentage of plan funded | 105.00% | 105.00% | ||||
Defined contribution assets | 7,716 | $ 7,458 | $ 8,195 | |||
Pension Plan | Principal plan | 2020 | ||||||
Disclosure of defined benefit plans [line items] | ||||||
Estimate of contributions expected to be paid to plan | 212 | £ 160 | ||||
Pension Plan | Principal plan | 2021 | ||||||
Disclosure of defined benefit plans [line items] | ||||||
Estimate of contributions expected to be paid to plan | $ 212 | £ 160 | ||||
Defined Contribution Pension Plan | Principal plan | ||||||
Disclosure of defined benefit plans [line items] | ||||||
Defined contribution assets | $ 2,600 | £ 2,000 |
Employee compensation and be_13
Employee compensation and benefits - Future benefit payments (Details) - Dec. 31, 2016 £ in Billions, $ in Billions | USD ($) | GBP (£) |
Employee Compensation And Benefits [Abstract] | ||
Estimated assets needed to secure all future pension payments | $ 49 | £ 37 |
Employee compensation and be_14
Employee compensation and benefits - Income statement charge (Details) £ in Millions, $ in Millions | 12 Months Ended | |||
Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2018GBP (£) | Dec. 31, 2017USD ($) | |
Employee Compensation And Benefits [Abstract] | ||||
Percentage increase in plan liabilities due to past service cost | 0.90% | 0.90% | ||
Past service cost, net defined benefit liability (asset) | $ 239 | £ 187 | ||
Defined benefit pension plans | $ 176 | 355 | $ 100 | |
Defined contribution pension plans | 758 | 756 | 603 | |
Pension plans | 934 | 1,111 | 703 | |
Defined benefit and contribution healthcare plans | 15 | 21 | (34) | |
Post-employment benefits | $ 949 | $ 1,132 | $ 669 |
Employee compensation and be_15
Employee compensation and benefits - Net assets/(liabilities) recognised on the balance sheet in respect of defined benefit plans (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit assets (liabilities) | $ 6,510 | $ 5,767 |
Fair value of plan assets | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit assets (liabilities) | 47,688 | 42,909 |
Present value of defined benefit obligations | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit assets (liabilities) | (41,162) | (37,107) |
Effect of limit on plan surpluses | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit assets (liabilities) | (16) | (35) |
Pension Plan | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit assets (liabilities) | 6,969 | 6,181 |
Pension Plan | Fair value of plan assets | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit assets (liabilities) | 47,567 | 42,799 |
Pension Plan | Present value of defined benefit obligations | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit assets (liabilities) | (40,582) | (36,583) |
Pension Plan | Effect of limit on plan surpluses | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit assets (liabilities) | (16) | (35) |
Healthcare Plan | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit assets (liabilities) | (459) | (414) |
Healthcare Plan | Fair value of plan assets | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit assets (liabilities) | 121 | 110 |
Healthcare Plan | Present value of defined benefit obligations | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit assets (liabilities) | (580) | (524) |
Healthcare Plan | Effect of limit on plan surpluses | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit assets (liabilities) | 0 | 0 |
Accruals, deferred income and other liabilities | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit assets (liabilities) | (1,771) | (2,167) |
Prepayments, accrued income and other assets | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit assets (liabilities) | $ 8,280 | $ 7,934 |
Employee compensation and be_16
Employee compensation and benefits - HSBC Holdings (Details) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019USD ($)employee | Dec. 31, 2018USD ($)employee | Dec. 31, 2017USD ($)employee | |
Disclosure of defined benefit plans [line items] | |||
Employee compensation and benefits | $ | $ 18,002 | $ 17,373 | $ 17,315 |
Average number of employees | employee | 247,055 | 242,850 | 244,788 |
HSBC Holdings | |||
Disclosure of defined benefit plans [line items] | |||
Employee compensation and benefits | $ | $ 37 | $ 37 | $ 54 |
Average number of employees | employee | 60 | 43 |
Employee compensation and be_17
Employee compensation and benefits - Net asset/(liability) under defined benefit pension plans (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit asset/(liability) | $ 5,767 | |
Net defined benefit liability (asset) | 6,510 | $ 5,767 |
Fair value of plan assets | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit asset/(liability) | 42,909 | |
Net defined benefit liability (asset) | 47,688 | 42,909 |
Present value of defined benefit obligations | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit asset/(liability) | (37,107) | |
Net defined benefit liability (asset) | (41,162) | (37,107) |
Effect of limit on plan surpluses | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit asset/(liability) | (35) | |
Net defined benefit liability (asset) | (16) | (35) |
Pension Plan | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit asset/(liability) | 6,181 | |
Net defined benefit liability (asset) | 6,969 | 6,181 |
Pension Plan | Fair value of plan assets | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit asset/(liability) | 42,799 | |
Net defined benefit liability (asset) | 47,567 | 42,799 |
Pension Plan | Present value of defined benefit obligations | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit asset/(liability) | (36,583) | |
Net defined benefit liability (asset) | (40,582) | (36,583) |
Pension Plan | Effect of limit on plan surpluses | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit asset/(liability) | (35) | |
Net defined benefit liability (asset) | (16) | (35) |
Pension Plan | Principal plan | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit asset/(liability) | 7,458 | 8,195 |
Service cost | (64) | (293) |
– current service cost | (40) | (44) |
– past service cost and gains/(losses) from settlements | (24) | (249) |
Net interest income/(cost) on the net defined benefit asset/(liability) | 211 | 212 |
Remeasurement effects recognised in other comprehensive income | (343) | (325) |
– return on plan assets (excluding interest income) | 2,205 | (1,478) |
– actuarial gains/(losses) | (2,548) | 1,153 |
– other changes | 0 | 0 |
Exchange differences | 264 | (437) |
Benefits paid | 0 | 0 |
Other movements | 190 | 106 |
Net defined benefit liability (asset) | 7,716 | 7,458 |
Pension Plan | Principal plan | Fair value of plan assets | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit asset/(liability) | 34,074 | 37,747 |
Service cost | 0 | 0 |
– current service cost | 0 | 0 |
– past service cost and gains/(losses) from settlements | 0 | 0 |
Net interest income/(cost) on the net defined benefit asset/(liability) | 939 | 955 |
Remeasurement effects recognised in other comprehensive income | 2,205 | (1,478) |
– return on plan assets (excluding interest income) | 2,205 | (1,478) |
– actuarial gains/(losses) | 0 | 0 |
– other changes | 0 | 0 |
Exchange differences | 1,300 | (2,002) |
Benefits paid | (1,014) | (1,132) |
Other movements | 370 | (16) |
Net defined benefit liability (asset) | 37,874 | 34,074 |
Pension Plan | Principal plan | Present value of defined benefit obligations | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit asset/(liability) | (26,616) | (29,552) |
Service cost | (64) | (293) |
– current service cost | (40) | (44) |
– past service cost and gains/(losses) from settlements | (24) | (249) |
Net interest income/(cost) on the net defined benefit asset/(liability) | (728) | (743) |
Remeasurement effects recognised in other comprehensive income | (2,548) | 1,153 |
– return on plan assets (excluding interest income) | 0 | 0 |
– actuarial gains/(losses) | (2,548) | 1,153 |
– other changes | 0 | 0 |
Exchange differences | (1,036) | 1,565 |
Benefits paid | 1,014 | 1,132 |
Other movements | (180) | 122 |
Net defined benefit liability (asset) | (30,158) | (26,616) |
Pension Plan | Principal plan | Effect of limit on plan surpluses | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit asset/(liability) | 0 | 0 |
Service cost | 0 | 0 |
– current service cost | 0 | 0 |
– past service cost and gains/(losses) from settlements | 0 | 0 |
Net interest income/(cost) on the net defined benefit asset/(liability) | 0 | 0 |
Remeasurement effects recognised in other comprehensive income | 0 | 0 |
– return on plan assets (excluding interest income) | 0 | 0 |
– actuarial gains/(losses) | 0 | 0 |
– other changes | 0 | 0 |
Exchange differences | 0 | 0 |
Benefits paid | 0 | 0 |
Other movements | 0 | 0 |
Net defined benefit liability (asset) | 0 | 0 |
Pension Plan | Other plans | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit asset/(liability) | (1,277) | (1,056) |
Service cost | (246) | (202) |
– current service cost | (183) | (179) |
– past service cost and gains/(losses) from settlements | (63) | (23) |
Net interest income/(cost) on the net defined benefit asset/(liability) | (24) | (31) |
Remeasurement effects recognised in other comprehensive income | 366 | (151) |
– return on plan assets (excluding interest income) | 870 | (591) |
– actuarial gains/(losses) | (1,348) | 403 |
– other changes | 844 | 37 |
Exchange differences | 0 | (62) |
Benefits paid | 74 | 6 |
Other movements | 360 | 219 |
Net defined benefit liability (asset) | (747) | (1,277) |
Pension Plan | Other plans | Fair value of plan assets | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit asset/(liability) | 8,725 | 9,518 |
Service cost | 0 | 0 |
– current service cost | 0 | 0 |
– past service cost and gains/(losses) from settlements | 0 | 0 |
Net interest income/(cost) on the net defined benefit asset/(liability) | 269 | 235 |
Remeasurement effects recognised in other comprehensive income | 867 | (591) |
– return on plan assets (excluding interest income) | 870 | (591) |
– actuarial gains/(losses) | 0 | 0 |
– other changes | (3) | 0 |
Exchange differences | 181 | (187) |
Benefits paid | (620) | (544) |
Other movements | 271 | 294 |
Net defined benefit liability (asset) | 9,693 | 8,725 |
Pension Plan | Other plans | Present value of defined benefit obligations | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit asset/(liability) | (9,967) | (10,537) |
Service cost | (246) | (202) |
– current service cost | (183) | (179) |
– past service cost and gains/(losses) from settlements | (63) | (23) |
Net interest income/(cost) on the net defined benefit asset/(liability) | (293) | (265) |
Remeasurement effects recognised in other comprehensive income | (521) | 440 |
– return on plan assets (excluding interest income) | 0 | 0 |
– actuarial gains/(losses) | (1,348) | 403 |
– other changes | 827 | 37 |
Exchange differences | (180) | 122 |
Benefits paid | 694 | 550 |
Other movements | 89 | (75) |
Net defined benefit liability (asset) | (10,424) | (9,967) |
Pension Plan | Other plans | Effect of limit on plan surpluses | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit asset/(liability) | (35) | (37) |
Service cost | 0 | 0 |
– current service cost | 0 | 0 |
– past service cost and gains/(losses) from settlements | 0 | 0 |
Net interest income/(cost) on the net defined benefit asset/(liability) | 0 | (1) |
Remeasurement effects recognised in other comprehensive income | 20 | 0 |
– return on plan assets (excluding interest income) | 0 | 0 |
– actuarial gains/(losses) | 0 | 0 |
– other changes | 20 | 0 |
Exchange differences | (1) | 3 |
Benefits paid | 0 | 0 |
Other movements | 0 | 0 |
Net defined benefit liability (asset) | $ (16) | $ (35) |
Employee compensation and be_18
Employee compensation and benefits - Benefits expected to be paid from plans (Details) $ in Millions | 12 Months Ended | |
Dec. 31, 2019USD ($)year | Dec. 31, 2018year | |
Employee Compensation And Benefits [Abstract] | ||
Estimate of contributions expected to be paid to plan for next annual reporting period | $ 384 | |
Pension Plan | Principal plan | ||
Disclosure of defined benefit plans [line items] | ||
Weighted average duration of defined benefit obligation | year | 18.1 | 17 |
Pension Plan | Principal plan | 2020 | ||
Disclosure of defined benefit plans [line items] | ||
Benefits expected to be paid from plans | $ 1,081 | |
Pension Plan | Principal plan | 2021 | ||
Disclosure of defined benefit plans [line items] | ||
Benefits expected to be paid from plans | 1,113 | |
Pension Plan | Principal plan | 2022 | ||
Disclosure of defined benefit plans [line items] | ||
Benefits expected to be paid from plans | 1,145 | |
Pension Plan | Principal plan | 2023 | ||
Disclosure of defined benefit plans [line items] | ||
Benefits expected to be paid from plans | 1,178 | |
Pension Plan | Principal plan | 2024 | ||
Disclosure of defined benefit plans [line items] | ||
Benefits expected to be paid from plans | 1,212 | |
Pension Plan | Principal plan | 2025-2029 | ||
Disclosure of defined benefit plans [line items] | ||
Benefits expected to be paid from plans | $ 6,611 | |
Pension Plan | Other plans | ||
Disclosure of defined benefit plans [line items] | ||
Weighted average duration of defined benefit obligation | year | 13.2 | 12.3 |
Pension Plan | Other plans | 2020 | ||
Disclosure of defined benefit plans [line items] | ||
Benefits expected to be paid from plans | $ 471 | |
Pension Plan | Other plans | 2021 | ||
Disclosure of defined benefit plans [line items] | ||
Benefits expected to be paid from plans | 525 | |
Pension Plan | Other plans | 2022 | ||
Disclosure of defined benefit plans [line items] | ||
Benefits expected to be paid from plans | 521 | |
Pension Plan | Other plans | 2023 | ||
Disclosure of defined benefit plans [line items] | ||
Benefits expected to be paid from plans | 486 | |
Pension Plan | Other plans | 2024 | ||
Disclosure of defined benefit plans [line items] | ||
Benefits expected to be paid from plans | 479 | |
Pension Plan | Other plans | 2025-2029 | ||
Disclosure of defined benefit plans [line items] | ||
Benefits expected to be paid from plans | $ 2,332 |
Employee compensation and be_19
Employee compensation and benefits - Fair value of plan assets by asset classes (Details) - Pension Plan $ in Millions, £ in Billions | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2016GBP (£) |
Principal plan | ||||
Disclosure of fair value of plan assets [line items] | ||||
Fair value of plan assets | $ 37,874 | $ 34,074 | $ 38,100 | £ 28.8 |
– equities | 662 | 3,152 | ||
– bonds | 31,699 | 26,509 | ||
– derivatives | 2,052 | 2,030 | ||
– other | 3,461 | 2,383 | ||
Principal plan | HSBC Bank plc | ||||
Disclosure of fair value of plan assets [line items] | ||||
Fair value of plan assets | 0 | 0 | ||
– equities | 0 | 0 | ||
– bonds | 0 | 0 | ||
– derivatives | 0 | 0 | ||
– other | 0 | 0 | ||
Other plans | ||||
Disclosure of fair value of plan assets [line items] | ||||
Fair value of plan assets | 9,693 | 8,725 | ||
– equities | 2,065 | 2,186 | ||
– bonds | 6,608 | 5,707 | ||
– derivatives | 0 | 37 | ||
– other | 1,020 | 795 | ||
Other plans | HSBC Bank plc | ||||
Disclosure of fair value of plan assets [line items] | ||||
Fair value of plan assets | 1,422 | 1,216 | ||
– equities | 2 | 2 | ||
– bonds | 8 | 7 | ||
– derivatives | 1,183 | 1,034 | ||
– other | 229 | 173 | ||
Quoted market price in active market | Principal plan | ||||
Disclosure of fair value of plan assets [line items] | ||||
Fair value of plan assets | 33,921 | 30,670 | ||
– equities | 312 | 3,152 | ||
– bonds | 31,699 | 26,509 | ||
– derivatives | 0 | 0 | ||
– other | 1,910 | 1,009 | ||
Quoted market price in active market | Other plans | ||||
Disclosure of fair value of plan assets [line items] | ||||
Fair value of plan assets | 8,702 | 7,425 | ||
– equities | 1,455 | 1,265 | ||
– bonds | 6,376 | 5,559 | ||
– derivatives | 0 | 0 | ||
– other | 871 | 601 | ||
No quoted market price in active market | Principal plan | ||||
Disclosure of fair value of plan assets [line items] | ||||
Fair value of plan assets | 3,953 | 3,404 | ||
– equities | 350 | 0 | ||
– bonds | 0 | 0 | ||
– derivatives | 2,052 | 2,030 | ||
– other | 1,551 | 1,374 | ||
No quoted market price in active market | Other plans | ||||
Disclosure of fair value of plan assets [line items] | ||||
Fair value of plan assets | 991 | 1,300 | ||
– equities | 610 | 921 | ||
– bonds | 232 | 148 | ||
– derivatives | 0 | 37 | ||
– other | $ 149 | $ 194 |
Employee compensation and be_20
Employee compensation and benefits - Key actuarial assumptions for the principal plan (Details) - Pension Plan - Principal plan | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of defined benefit plans [line items] | ||
Discount rate | 2.00% | 2.80% |
Inflation rate | 3.10% | 3.40% |
Rate of increase for pensions | 2.90% | 3.10% |
Rate of pay increase | 3.65% | 3.65% |
Employee compensation and be_21
Employee compensation and benefits - Mortality tables and average life expectancy at age 65 for the principal plan (Details) - Pension Plan - Principal plan - year | Dec. 31, 2019 | Dec. 31, 2018 |
Aged 60, Male | ||
Disclosure of defined benefit plans [line items] | ||
Life expectancy at age 60 | 28 | 28.1 |
Aged 40, Male | ||
Disclosure of defined benefit plans [line items] | ||
Life expectancy at age 60 | 29.4 | 29.6 |
Aged 60, Female | ||
Disclosure of defined benefit plans [line items] | ||
Life expectancy at age 60 | 28.2 | 28.4 |
Aged 40, Female | ||
Disclosure of defined benefit plans [line items] | ||
Life expectancy at age 60 | 29.8 | 30 |
Employee compensation and be_22
Employee compensation and benefits - The effect of changes in key assumptions on the principal plan (Details) - Pension Plan - Principal plan - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Discount rate | ||
Disclosure of sensitivity analysis for actuarial assumptions [line items] | ||
Financial impact of increase | $ (1,305) | $ (1,078) |
Financial impact of decrease | $ 1,395 | $ 1,149 |
Percentage of reasonably possible increase in actuarial assumption | 0.25% | 0.25% |
Percentage of reasonably possible decrease in actuarial assumption | 0.25% | 0.25% |
Inflation rate | ||
Disclosure of sensitivity analysis for actuarial assumptions [line items] | ||
Financial impact of increase | $ 781 | $ 726 |
Financial impact of decrease | $ (738) | $ (716) |
Percentage of reasonably possible increase in actuarial assumption | 0.25% | 0.25% |
Percentage of reasonably possible decrease in actuarial assumption | 0.25% | 0.25% |
Pension payments and deferred pensions | ||
Disclosure of sensitivity analysis for actuarial assumptions [line items] | ||
Financial impact of increase | $ 1,100 | $ 1,181 |
Financial impact of decrease | $ (1,026) | $ (1,112) |
Percentage of reasonably possible increase in actuarial assumption | 0.25% | 0.25% |
Percentage of reasonably possible decrease in actuarial assumption | 0.25% | 0.25% |
Pay | ||
Disclosure of sensitivity analysis for actuarial assumptions [line items] | ||
Financial impact of increase | $ 73 | $ 28 |
Financial impact of decrease | $ (72) | $ (29) |
Percentage of reasonably possible increase in actuarial assumption | 0.25% | 0.25% |
Percentage of reasonably possible decrease in actuarial assumption | 0.25% | 0.25% |
Change in mortality | ||
Disclosure of sensitivity analysis for actuarial assumptions [line items] | ||
Financial impact of increase | $ 1,267 | $ 995 |
Duration of reasonably possible increase in actuarial assumption | 1 year | 1 year |
Auditor's remuneration - Summar
Auditor's remuneration - Summary of auditor's remuneration (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Additional information [abstract] | |||
Audit fees payable to PwC | $ 85.2 | $ 86.6 | $ 84.8 |
Other audit fees payable | 0.9 | 0.9 | 1.2 |
Year ended 31 Dec | $ 86.1 | $ 87.5 | $ 86 |
Auditor's remuneration - Fees p
Auditor's remuneration - Fees payable by HSBC to PwC (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Additional information [abstract] | |||
Fees for HSBC Holdings’ statutory audit | $ 15.7 | $ 16.4 | $ 15.1 |
Fees for other services provided to HSBC | 95 | 103.1 | 114.6 |
– audit of HSBC’s subsidiaries | 69.5 | 70.2 | 69.7 |
– audit-related assurance services | 10 | 11.4 | 10.8 |
– other assurance services | 12.2 | 13.5 | 25.2 |
– taxation compliance services | 1.6 | 1.4 | 1.2 |
– taxation advisory services | 0 | 0.1 | 0 |
– other non-audit services | 1.7 | 6.5 | 7.7 |
Year ended 31 Dec | $ 110.7 | $ 119.5 | $ 129.7 |
Auditor's remuneration - Fees_2
Auditor's remuneration - Fees payable by HSBC's associated pension schemes to PwC (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of defined benefit plans [line items] | |||
Audit of HSBC’s associated pension schemes | $ 86,100 | $ 87,500 | $ 86,000 |
Audit-related assurance services | 10,000 | 11,400 | 10,800 |
Year ended 31 Dec | 110,700 | 119,500 | 129,700 |
Pension Plan | |||
Disclosure of defined benefit plans [line items] | |||
Audit of HSBC’s associated pension schemes | 250 | 172 | 260 |
Audit-related assurance services | 0 | 0 | 4 |
Year ended 31 Dec | 250 | 172 | 264 |
Estimated fees paid by associated third parties | $ 17,200 | $ 14,000 | $ 3,500 |
Tax - Tax expense (Details)
Tax - Tax expense (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income Taxes [Abstract] | |||
Current tax | $ 3,768 | $ 4,195 | $ 4,264 |
– for this year | 3,689 | 4,158 | 4,115 |
– adjustments in respect of prior years | 79 | 37 | 149 |
Deferred tax | 871 | 670 | 1,024 |
– origination and reversal of temporary differences | 684 | 656 | (228) |
– effect of changes in tax rates | (11) | 17 | 1,337 |
– adjustments in respect of prior years | 198 | (3) | (85) |
Total tax expense | 4,639 | 4,865 | 5,288 |
Summary Of Income Taxes [Line Items] | |||
Tax expense | $ 2,536 | $ 3,779 | $ 3,305 |
Applicable tax rate | 19.00% | 19.00% | 19.25% |
Tax credit (charge) recorded directly to equity | $ 6 | $ (234) | |
Hong Kong | |||
Summary Of Income Taxes [Line Items] | |||
Tax expense | $ 1,413 | $ 1,532 | $ 1,350 |
Applicable tax rate | 16.50% | 16.50% | 16.50% |
Tax - Tax reconciliation (Detai
Tax - Tax reconciliation (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Reconciliation of accounting profit multiplied by applicable tax rates [abstract] | |||
Profit before tax | $ 13,347,000,000 | $ 19,890,000,000 | $ 17,167,000,000 |
Taxation at UK corporation tax rate of 19.00% (2018: 19.00%; 2017: 19.25%) | 2,536,000,000 | 3,779,000,000 | 3,305,000,000 |
Impact of differently taxed overseas profits in overseas locations | 253,000,000 | 264,000,000 | 407,000,000 |
– non-deductible goodwill write-down | 1,421,000,000 | 0 | 0 |
– local taxes and overseas withholding taxes | 484,000,000 | 437,000,000 | 618,000,000 |
– other permanent disallowables | 481,000,000 | 396,000,000 | 400,000,000 |
– non-deductible UK customer compensation | 382,000,000 | 16,000,000 | 166,000,000 |
– UK tax losses not recognised | 364,000,000 | 435,000,000 | 70,000,000 |
– adjustments in respect of prior period liabilities | 277,000,000 | 34,000,000 | 64,000,000 |
– bank levy | 184,000,000 | 191,000,000 | 180,000,000 |
– impacts of hyperinflation | 29,000,000 | 78,000,000 | 0 |
– UK banking surcharge | 29,000,000 | 229,000,000 | 136,000,000 |
– non-UK movements in unrecognised deferred tax | 12,000,000 | 32,000,000 | (16,000,000) |
– non-deductible regulatory settlements | 5,000,000 | 153,000,000 | (132,000,000) |
– deferred tax remeasurement due to US federal tax rate reduction | 0 | 0 | 1,288,000,000 |
– non-taxable income and gains | (844,000,000) | (691,000,000) | (766,000,000) |
– effect of profits in associates and joint ventures | (467,000,000) | (492,000,000) | (481,000,000) |
– deductions for AT1 coupon payments | (263,000,000) | 0 | 0 |
– non-taxable gain on dilution of shareholding in SABB | (181,000,000) | 0 | 0 |
– impact of changes in tax rates | (11,000,000) | 17,000,000 | 49,000,000 |
– other items | (52,000,000) | (13,000,000) | 0 |
Total tax expense | $ 4,639,000,000 | $ 4,865,000,000 | $ 5,288,000,000 |
Reconciliation of average effective tax rate and applicable tax rate [abstract] | |||
Taxation at UK corporation tax rate of 19.00% (2018: 19.00%; 2017: 19.25%) | 19.00% | 19.00% | 19.25% |
Impact of differently taxed overseas profits in overseas locations | 1.90% | 1.30% | 2.30% |
– non-deductible goodwill write-down | 10.70% | 0.00% | 0.00% |
– local taxes and overseas withholding taxes | 3.60% | 2.20% | 3.60% |
– other permanent disallowables | 3.60% | 2.00% | 2.30% |
– non-deductible UK customer compensation | 2.90% | 0.10% | 1.00% |
– UK tax losses not recognised | 2.70% | 2.20% | 0.40% |
– adjustments in respect of prior period liabilities | 2.10% | 0.20% | 0.40% |
– bank levy | 1.40% | 1.00% | 1.00% |
– impacts of hyperinflation | 0.20% | 0.40% | 0.00% |
– UK banking surcharge | 0.20% | 1.10% | 0.80% |
– non-UK movements in unrecognised deferred tax | 0.10% | 0.20% | (0.10%) |
– non-deductible regulatory settlements | 0.00% | 0.80% | (0.80%) |
– deferred tax remeasurement due to US federal tax rate reduction | 0.00% | 0.00% | 7.50% |
– non-taxable income and gains | (6.30%) | (3.50%) | (4.40%) |
– effect of profits in associates and joint ventures | (3.50%) | (2.50%) | (2.80%) |
– deductions for AT1 coupon payments | (2.00%) | (0.00%) | (0.00%) |
– non-taxable gain on dilution of shareholding in SABB | (1.30%) | (0.00%) | (0.00%) |
– impact of changes in tax rates | (0.10%) | 0.10% | 0.30% |
– other items | (0.40%) | (0.10%) | 0.00% |
Average effective tax rate | 34.80% | 24.50% | 30.80% |
Tax - Tax reconciliation commen
Tax - Tax reconciliation commentary (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Summary Of Income Taxes [Line Items] | |||
Applicable tax rate | 19.00% | 19.00% | 19.25% |
Average effective tax rate | 34.80% | 24.50% | 30.80% |
Goodwill impairment | $ 7,349 | $ 0 | $ 0 |
Pro Forma | |||
Summary Of Income Taxes [Line Items] | |||
Average effective tax rate | 20.90% | 20.30% | |
Hong Kong | |||
Summary Of Income Taxes [Line Items] | |||
Applicable tax rate | 16.50% | 16.50% | 16.50% |
United States | |||
Summary Of Income Taxes [Line Items] | |||
Applicable tax rate | 21.00% | ||
UK | |||
Summary Of Income Taxes [Line Items] | |||
Applicable tax rate | 19.00% |
Tax - Movement of deferred tax
Tax - Movement of deferred tax assets and liabilities (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Assets | $ 5,148 | $ 6,324 | |
Liabilities | (3,317) | (3,630) | |
Deferred tax asset (liability) | 1,831 | 2,694 | |
IFRS 9 transitional adjustment | $ 406 | ||
Income statement | (871) | (670) | |
Other comprehensive income | 183 | (532) | |
Equity | (23) | ||
Foreign exchange and other adjustments | 114 | (44) | |
Deferred tax asset (liability) | 1,257 | 1,831 | |
Assets | 5,450 | 5,148 | |
Liabilities | (4,193) | (3,317) | |
Deferred tax assets | 4,632 | 4,450 | |
Deferred tax liabilities | 3,375 | 2,619 | |
Loan impairment provisions | |||
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Assets | 982 | 713 | |
Deferred tax asset (liability) | 982 | 713 | |
IFRS 9 transitional adjustment | 358 | ||
Income statement | 45 | (72) | |
Foreign exchange and other adjustments | (44) | (17) | |
Deferred tax asset (liability) | 983 | 982 | |
Assets | 983 | 982 | |
Unused tax losses and tax credits | |||
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Assets | 1,156 | 1,373 | |
Deferred tax asset (liability) | 1,156 | 1,373 | |
Income statement | 266 | (203) | |
Foreign exchange and other adjustments | (8) | (14) | |
Deferred tax asset (liability) | 1,414 | 1,156 | |
Assets | 1,414 | 1,156 | |
Derivatives, FVOD and other investments | |||
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Assets | 492 | 1,282 | |
Liabilities | (376) | (93) | |
Deferred tax asset (liability) | 116 | 1,189 | |
IFRS 9 transitional adjustment | (411) | ||
Income statement | (386) | 51 | |
Other comprehensive income | 544 | (722) | |
Foreign exchange and other adjustments | 147 | 9 | |
Deferred tax asset (liability) | 421 | 116 | |
Assets | 979 | 492 | |
Liabilities | (558) | (376) | |
Insurance business | |||
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Liabilities | (1,271) | (1,182) | |
Deferred tax asset (liability) | (1,271) | (1,182) | |
Income statement | (303) | (104) | |
Foreign exchange and other adjustments | (47) | 15 | |
Deferred tax asset (liability) | (1,621) | (1,271) | |
Liabilities | (1,621) | (1,271) | |
Expense provisions | |||
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Assets | 629 | 643 | |
Deferred tax asset (liability) | 629 | 643 | |
Income statement | (18) | 19 | |
Foreign exchange and other adjustments | 39 | (33) | |
Deferred tax asset (liability) | 650 | 629 | |
Assets | 650 | 629 | |
Fixed assets | |||
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Assets | 1,151 | 1,201 | |
Deferred tax asset (liability) | 1,151 | 1,201 | |
Income statement | (185) | (68) | |
Foreign exchange and other adjustments | 36 | 18 | |
Deferred tax asset (liability) | 1,002 | 1,151 | |
Assets | 1,002 | 1,151 | |
Retirement obligations | |||
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Assets | 352 | ||
Liabilities | (1,387) | (1,387) | |
Deferred tax asset (liability) | (1,387) | (1,035) | |
Income statement | (149) | 35 | |
Other comprehensive income | 30 | 25 | |
Equity | (15) | ||
Foreign exchange and other adjustments | (107) | (397) | |
Deferred tax asset (liability) | (1,613) | (1,387) | |
Liabilities | (1,613) | (1,387) | |
Other | |||
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Assets | 738 | 760 | |
Liabilities | (283) | (968) | |
Deferred tax asset (liability) | 455 | (208) | |
IFRS 9 transitional adjustment | $ 459 | ||
Income statement | (141) | (328) | |
Other comprehensive income | (391) | 165 | |
Equity | (8) | ||
Foreign exchange and other adjustments | 98 | 375 | |
Deferred tax asset (liability) | 21 | 455 | |
Assets | 422 | 738 | |
Liabilities | $ (401) | $ (283) |
Tax - Movement of deferred ta_2
Tax - Movement of deferred tax assets and liabilities commentary (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax asset (liability) | $ 1,257 | $ 1,831 | $ 2,694 |
Period for majority recovery of deferred tax assets (liabilities) | 5 years | ||
Management's approved financial forecast period | 5 years | ||
Gross temporary differences, unused tax losses and unused tax credits for which no deferred tax asset is recognised | $ 8,300 | 7,200 | |
Unused tax losses for which no deferred tax asset recognised | 6,200 | 4,600 | |
Temporary differences related to unrecognised deferred tax liabilities arising on investments in subsidiaries and branches | 13,400 | 13,200 | |
Temporary differences from investments in subsidiaries and branches | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax asset (liability) | (1,000) | (900) | |
United States | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax asset (liability) | 2,800 | 3,000 | |
United States | Unused tax losses | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax asset (liability) | $ 1,100 | ||
Bottom of range | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Period for substantial recovery of deferred tax assets (liabilities) | 6 years | ||
Bottom of range | United States | Unused tax losses | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax asset and liability expiration period | 14 years | ||
Top of range | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Period for substantial recovery of deferred tax assets (liabilities) | 7 years | ||
Top of range | United States | Unused tax losses | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax asset and liability expiration period | 18 years | ||
Not subject to expiration | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Gross temporary differences, unused tax losses and unused tax credits for which no deferred tax asset is recognised | $ 6,400 | 4,700 | |
Expiration within 10 years | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Gross temporary differences, unused tax losses and unused tax credits for which no deferred tax asset is recognised | $ 1,300 | $ 1,300 |
Dividends - Dividends to shareh
Dividends - Dividends to shareholders of the parent company (Details) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Dividends Payable [Line Items] | |||
Dividends paid on ordinary shares per share (in dollars per share) | $ 0.51 | $ 0.51 | $ 0.51 |
Dividends paid on ordinary shares | $ 10,269 | $ 10,187 | $ 10,193 |
Dividends on preference shares classified as equity | 11,683 | 11,547 | 11,551 |
Settled in scrip | $ 2,687 | $ 1,494 | $ 3,206 |
Preference shares | |||
Dividends Payable [Line Items] | |||
Dividends on preference shares classified as equity (in dollars per share) | $ 62 | $ 62 | $ 62 |
Dividends on preference shares classified as equity | $ 90 | $ 90 | $ 90 |
Other equity instruments | |||
Dividends Payable [Line Items] | |||
Dividends on preference shares classified as equity | $ 1,324 | $ 1,270 | $ 1,268 |
– fourth interim dividend | |||
Dividends Payable [Line Items] | |||
Dividends paid on ordinary shares per share (in dollars per share) | $ 0.21 | $ 0.21 | $ 0.21 |
Dividends paid on ordinary shares | $ 4,206 | $ 4,197 | $ 4,169 |
Settled in scrip | $ 1,160 | $ 393 | $ 1,945 |
– first interim dividend | |||
Dividends Payable [Line Items] | |||
Dividends paid on ordinary shares per share (in dollars per share) | $ 0.10 | $ 0.10 | $ 0.10 |
Dividends paid on ordinary shares | $ 2,013 | $ 2,008 | $ 2,005 |
Settled in scrip | $ 375 | $ 213 | $ 826 |
– second interim dividend | |||
Dividends Payable [Line Items] | |||
Dividends paid on ordinary shares per share (in dollars per share) | $ 0.10 | $ 0.10 | $ 0.10 |
Dividends paid on ordinary shares | $ 2,021 | $ 1,990 | $ 2,014 |
Settled in scrip | $ 795 | $ 181 | $ 193 |
– third interim dividend | |||
Dividends Payable [Line Items] | |||
Dividends paid on ordinary shares per share (in dollars per share) | $ 0.10 | $ 0.10 | $ 0.10 |
Dividends paid on ordinary shares | $ 2,029 | $ 1,992 | $ 2,005 |
Settled in scrip | $ 357 | $ 707 | $ 242 |
Dividends - Total coupons on ca
Dividends - Total coupons on capital securities classified as equity (Details) | 12 Months Ended | ||||||||
Dec. 31, 2019USD ($)$ / shares | Dec. 31, 2019USD ($)£ / shares | Dec. 31, 2019USD ($)$ / shares | Dec. 31, 2019USD ($)€ / shares | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2019GBP (£) | Dec. 31, 2019EUR (€) | Dec. 31, 2019SGD ($) | |
Disclosure Of Other Equity [Line Items] | |||||||||
Dividends on other equity instruments | $ 11,683,000,000 | $ 11,547,000,000 | $ 11,551,000,000 | ||||||
8.125% Perpetual Subordinated Capital Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | $ 2,200,000,000 | $ 2,200,000,000 | $ 2,200,000,000 | $ 2,200,000,000 | |||||
Other equity instruments interest rate | 8.125% | 8.125% | 8.125% | 8.125% | 8.125% | 8.125% | 8.125% | ||
8.000% Perpetual Subordinated Capital Securities, Series 2 | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | $ 3,800,000,000 | $ 3,800,000,000 | $ 3,800,000,000 | $ 3,800,000,000 | |||||
Other equity instruments interest rate | 8.00% | 8.00% | 8.00% | 8.00% | 8.00% | 8.00% | 8.00% | ||
$1,500m 5.625% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | $ 1,500,000,000 | $ 1,500,000,000 | $ 1,500,000,000 | $ 1,500,000,000 | |||||
Other equity instruments interest rate | 5.625% | 5.625% | 5.625% | 5.625% | 5.625% | 5.625% | 5.625% | ||
$2,000m 6.875% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | $ 2,000,000,000 | $ 2,000,000,000 | $ 2,000,000,000 | $ 2,000,000,000 | |||||
Other equity instruments interest rate | 6.875% | 6.875% | 6.875% | 6.875% | 6.875% | 6.875% | 6.875% | ||
$2,250m 6.375% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | $ 2,250,000,000 | $ 2,250,000,000 | $ 2,250,000,000 | $ 2,250,000,000 | |||||
Other equity instruments interest rate | 6.375% | 6.375% | 6.375% | 6.375% | 6.375% | 6.375% | 6.375% | ||
$2,450m 6.375% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | $ 2,450,000,000 | $ 2,450,000,000 | $ 2,450,000,000 | $ 2,450,000,000 | |||||
Other equity instruments interest rate | 6.375% | 6.375% | 6.375% | 6.375% | 6.375% | 6.375% | 6.375% | ||
$3,000m 6.000% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | $ 3,000,000,000 | $ 3,000,000,000 | $ 3,000,000,000 | $ 3,000,000,000 | |||||
Other equity instruments interest rate | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | ||
$2,350m 6.250% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | $ 2,350,000,000 | $ 2,350,000,000 | $ 2,350,000,000 | $ 2,350,000,000 | |||||
Other equity instruments interest rate | 6.25% | 6.25% | 6.25% | 6.25% | 6.25% | 6.25% | 6.25% | ||
$1,800m 6.500% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | $ 1,800,000,000 | $ 1,800,000,000 | $ 1,800,000,000 | $ 1,800,000,000 | |||||
Other equity instruments interest rate | 6.50% | 6.50% | 6.50% | 6.50% | 6.50% | 6.50% | 6.50% | ||
EUR 1,500m 5.250% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | € | € 1,500,000,000 | ||||||||
Other equity instruments interest rate | 5.25% | 5.25% | 5.25% | 5.25% | 5.25% | 5.25% | 5.25% | ||
EUR 1,000m 6.000% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | € | € 1,000,000,000 | ||||||||
Other equity instruments interest rate | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | ||
EUR 1,250m 4.750% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | € | € 1,250,000,000 | ||||||||
Other equity instruments interest rate | 4.75% | 4.75% | 4.75% | 4.75% | 4.75% | 4.75% | 4.75% | ||
SGD 1000m 4.700% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | $ 1,000,000,000 | ||||||||
Other equity instruments interest rate | 4.70% | 4.70% | 4.70% | 4.70% | 4.70% | 4.70% | 4.70% | ||
GBP 1,000m 5.875% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | £ | £ 1,000,000,000 | ||||||||
Other equity instruments interest rate | 5.875% | 5.875% | 5.875% | 5.875% | 5.875% | 5.875% | 5.875% | ||
SGD 750m 5.000% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | $ 750,000,000 | ||||||||
Other equity instruments interest rate | 5.00% | 5.00% | 5.00% | 5.00% | 5.00% | 5.00% | 5.00% | ||
Other equity interest | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Dividends on other equity instruments | $ 1,324,000,000 | 1,270,000,000 | 1,268,000,000 | ||||||
Other equity interest | 8.125% Perpetual Subordinated Capital Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Dividends on other equity instruments (in dollars per share) | $ / shares | $ 0 | ||||||||
Dividends on other equity instruments | $ 0 | 89,000,000 | 179,000,000 | ||||||
Other equity interest | 8.000% Perpetual Subordinated Capital Securities, Series 2 | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Dividends on other equity instruments (in dollars per share) | $ / shares | $ 0 | ||||||||
Dividends on other equity instruments | $ 0 | 76,000,000 | 304,000,000 | ||||||
Other equity interest | $1,500m 5.625% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Dividends on other equity instruments (in dollars per share) | $ / shares | $ 56.250 | ||||||||
Dividends on other equity instruments | $ 84,000,000 | 84,000,000 | 84,000,000 | ||||||
Other equity interest | $2,000m 6.875% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Dividends on other equity instruments (in dollars per share) | $ / shares | $ 68.750 | ||||||||
Dividends on other equity instruments | $ 138,000,000 | 138,000,000 | 138,000,000 | ||||||
Other equity interest | $2,250m 6.375% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Dividends on other equity instruments (in dollars per share) | $ / shares | $ 63.750 | ||||||||
Dividends on other equity instruments | $ 143,000,000 | 143,000,000 | 143,000,000 | ||||||
Other equity interest | $2,450m 6.375% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Dividends on other equity instruments (in dollars per share) | $ / shares | $ 63.750 | ||||||||
Dividends on other equity instruments | $ 156,000,000 | 156,000,000 | 156,000,000 | ||||||
Other equity interest | $3,000m 6.000% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Dividends on other equity instruments (in dollars per share) | $ / shares | $ 60 | ||||||||
Dividends on other equity instruments | $ 180,000,000 | 180,000,000 | 90,000,000 | ||||||
Other equity interest | $2,350m 6.250% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Dividends on other equity instruments (in dollars per share) | $ / shares | $ 62.500 | ||||||||
Dividends on other equity instruments | $ 147,000,000 | 73,000,000 | 0 | ||||||
Other equity interest | $1,800m 6.500% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Dividends on other equity instruments (in dollars per share) | $ / shares | $ 65 | ||||||||
Dividends on other equity instruments | $ 117,000,000 | 59,000,000 | 0 | ||||||
Other equity interest | EUR 1,500m 5.250% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Dividends on other equity instruments (in dollars per share) | € / shares | $ 52.500 | ||||||||
Dividends on other equity instruments | 88,000,000 | 95,000,000 | 89,000,000 | ||||||
Other equity interest | EUR 1,000m 6.000% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Dividends on other equity instruments (in dollars per share) | € / shares | 60 | ||||||||
Dividends on other equity instruments | 66,000,000 | 72,000,000 | 68,000,000 | ||||||
Other equity interest | EUR 1,250m 4.750% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Dividends on other equity instruments (in dollars per share) | € / shares | $ 47.500 | ||||||||
Dividends on other equity instruments | 68,000,000 | 70,000,000 | 0 | ||||||
Other equity interest | SGD 1000m 4.700% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Dividends on other equity instruments (in dollars per share) | $ / shares | $ 47 | ||||||||
Dividends on other equity instruments | 34,000,000 | 35,000,000 | 17,000,000 | ||||||
Other equity interest | GBP 1,000m 5.875% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Dividends on other equity instruments (in dollars per share) | £ / shares | $ 58.750 | ||||||||
Dividends on other equity instruments | 75,000,000 | 0 | 0 | ||||||
Other equity interest | SGD 750m 5.000% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Dividends on other equity instruments (in dollars per share) | $ / shares | $ 50 | ||||||||
Dividends on other equity instruments | 28,000,000 | $ 0 | $ 0 | ||||||
Capital securities classified as equity | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Discretionary coupons denominations per security | 25 | $ 25 | $ 25 | $ 25 | |||||
Contingent convertible securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Discretionary coupons denominations per security | 1,000 | 1,000 | 1,000 | 1,000 | |||||
Contingent convertible securities | $1,500m 5.625% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | $ 1,500,000,000 | $ 1,500,000,000 | $ 1,500,000,000 | $ 1,500,000,000 | |||||
Other equity instruments interest rate | 5.625% | 5.625% | 5.625% | 5.625% | 5.625% | 5.625% | 5.625% | ||
Contingent convertible securities | $2,000m 6.875% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | $ 2,000,000,000 | $ 2,000,000,000 | $ 2,000,000,000 | $ 2,000,000,000 | |||||
Other equity instruments interest rate | 6.875% | 6.875% | 6.875% | 6.875% | 6.875% | 6.875% | 6.875% | ||
Contingent convertible securities | $2,250m 6.375% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | $ 2,250,000,000 | $ 2,250,000,000 | $ 2,250,000,000 | $ 2,250,000,000 | |||||
Other equity instruments interest rate | 6.375% | 6.375% | 6.375% | 6.375% | 6.375% | 6.375% | 6.375% | ||
Contingent convertible securities | $2,450m 6.375% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | $ 2,450,000,000 | $ 2,450,000,000 | $ 2,450,000,000 | $ 2,450,000,000 | |||||
Other equity instruments interest rate | 6.375% | 6.375% | 6.375% | 6.375% | 6.375% | 6.375% | 6.375% | ||
Contingent convertible securities | $3,000m 6.000% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | $ 3,000,000,000 | $ 3,000,000,000 | $ 3,000,000,000 | $ 3,000,000,000 | |||||
Other equity instruments interest rate | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | ||
Contingent convertible securities | $2,350m 6.250% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | $ 2,350,000,000 | $ 2,350,000,000 | $ 2,350,000,000 | $ 2,350,000,000 | |||||
Other equity instruments interest rate | 6.25% | 6.25% | 6.25% | 6.25% | 6.25% | 6.25% | 6.25% | ||
Contingent convertible securities | $1,800m 6.500% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | $ 1,800,000,000 | $ 1,800,000,000 | $ 1,800,000,000 | $ 1,800,000,000 | |||||
Other equity instruments interest rate | 6.50% | 6.50% | 6.50% | 6.50% | 6.50% | 6.50% | 6.50% | ||
Contingent convertible securities | EUR 1,500m 5.250% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | € | € 1,500,000,000 | ||||||||
Other equity instruments interest rate | 5.25% | 5.25% | 5.25% | 5.25% | 5.25% | 5.25% | 5.25% | ||
Contingent convertible securities | EUR 1,000m 6.000% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | € | € 1,000,000,000 | ||||||||
Other equity instruments interest rate | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | ||
Contingent convertible securities | EUR 1,250m 4.750% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | € | € 1,250,000,000 | ||||||||
Other equity instruments interest rate | 4.75% | 4.75% | 4.75% | 4.75% | 4.75% | 4.75% | 4.75% | ||
Contingent convertible securities | SGD 1000m 4.700% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | $ 1,000,000,000 | ||||||||
Other equity instruments interest rate | 4.70% | 4.70% | 4.70% | 4.70% | 4.70% | 4.70% | 4.70% | ||
Contingent convertible securities | GBP 1,000m 5.875% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | £ | £ 1,000,000,000 | ||||||||
Other equity instruments interest rate | 5.875% | 5.875% | 5.875% | 5.875% | 5.875% | 5.875% | 5.875% | ||
Contingent convertible securities | SGD 750m 5.000% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | $ 750,000,000 | ||||||||
Other equity instruments interest rate | 5.00% | 5.00% | 5.00% | 5.00% | 5.00% | 5.00% | 5.00% |
Dividends - Total coupons on _2
Dividends - Total coupons on capital securities classified as equity (commentary) (Details) | Jan. 06, 2020USD ($) | Jan. 06, 2020EUR (€) | Dec. 31, 2019USD ($)$ / shares | Dec. 31, 2019EUR (€) |
Disclosure of classes of share capital [line items] | ||||
Dividends declared before financial statements authorised for issue, per share (in dollars per share) | $ / shares | $ 0.21 | |||
Dividends declared before financial statements authorized for issue | $ 4,266,000,000 | |||
EUR 1,250m Subordinated Capital Securities | ||||
Disclosure of classes of share capital [line items] | ||||
Notional amount | € | € 1,250,000,000 | |||
Dividend payables | $ 0 | |||
Ordinary shares | ||||
Disclosure of classes of share capital [line items] | ||||
Dividends declared before financial statements authorised for issue, per share (in dollars per share) | $ / shares | $ 0.21 | |||
Dividends declared before financial statements authorized for issue | $ 4,266,000,000 | |||
Subsequent Event | EUR 1,250m Subordinated Capital Securities | Major ordinary share transactions | ||||
Disclosure of classes of share capital [line items] | ||||
Dividends declared before financial statements authorized for issue | $ 33,000,000 | € 30,000,000 |
Earnings per share - Profit Att
Earnings per share - Profit Attributable to Ordinary Shareholders (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Earnings per share [abstract] | |||
Profit attributable to shareholders of the parent company | $ 7,383 | $ 13,727 | $ 10,798 |
Dividend payable on preference shares classified as equity | (90) | (90) | (90) |
Coupon payable on capital securities classified as equity | (1,324) | (1,029) | (1,025) |
Profit (loss), attributable to ordinary equity holders of parent entity | $ 5,969 | $ 12,608 | $ 9,683 |
Earnings per share - Basic and
Earnings per share - Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Earnings per share [abstract] | |||
Profit attributable to ordinary shareholders of the parent company | $ 5,969 | $ 12,608 | $ 9,683 |
Weighted average number of ordinary shares outstanding (in shares) | 20,158,000,000 | 19,896,000,000 | 19,972,000,000 |
Effect of dilutive potential ordinary shares (in shares) | 75,000,000 | 87,000,000 | 100,000,000 |
Adjusted weighted average number of ordinary shares outstanding (in shares) | 20,233,000,000 | 19,983,000,000 | 20,072,000,000 |
Basic earnings per share (in dollars per share) | $ 0.30 | $ 0.63 | $ 0.48 |
Diluted earnings per share (in dollars per share) | $ 0.30 | $ 0.63 | $ 0.48 |
Antidilutive securities (in shares) | 1,100,000 | 0 | 0 |
Segmental analysis - Adjusted p
Segmental analysis - Adjusted profit before tax and balance sheet data (Details) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | |
Disclosure of operating segments [line items] | |||
Net operating income/(expense) before change in expected credit losses and other credit impairment charges | $ 56,098 | $ 53,780 | $ 51,445 |
of which: net interest income/(expense) | 30,462 | 30,489 | 28,176 |
Change in expected credit losses and other credit impairment charges | (2,756) | (1,767) | (1,769) |
Net operating income | 53,342 | 52,013 | 49,676 |
Total operating expenses | (42,349) | (34,659) | (34,884) |
Operating profit | 10,993 | 17,354 | 14,792 |
Share of profit in associates and joint ventures | 2,354 | 2,536 | 2,375 |
Profit before tax | 13,347 | 19,890 | 17,167 |
Loans and advances to customers (net) | 1,036,743 | 981,696 | 962,964 |
Interests in associates and joint ventures | 24,474 | 22,407 | 22,744 |
Total external assets | 2,715,152 | 2,558,124 | 2,521,771 |
Customer accounts | 1,439,115 | 1,362,643 | 1,364,462 |
Operating segments, including adjustments and inter-segment eliminations | |||
Disclosure of operating segments [line items] | |||
Net operating income/(expense) before change in expected credit losses and other credit impairment charges | 55,409 | 52,331 | 50,173 |
Operating segments, including adjustments and inter-segment eliminations | Retail Banking and Wealth Management | |||
Disclosure of operating segments [line items] | |||
Net operating income/(expense) before change in expected credit losses and other credit impairment charges | 23,400 | 21,374 | 19,708 |
Operating segments, including adjustments and inter-segment eliminations | Commercial Banking | |||
Disclosure of operating segments [line items] | |||
Net operating income/(expense) before change in expected credit losses and other credit impairment charges | 15,292 | 14,465 | 12,883 |
Operating segments, including adjustments and inter-segment eliminations | Global Banking and Markets | |||
Disclosure of operating segments [line items] | |||
Net operating income/(expense) before change in expected credit losses and other credit impairment charges | 14,916 | 15,025 | 14,823 |
Operating segments, including adjustments and inter-segment eliminations | Global Private Banking | |||
Disclosure of operating segments [line items] | |||
Net operating income/(expense) before change in expected credit losses and other credit impairment charges | 1,848 | 1,757 | 1,698 |
Operating segments, including adjustments and inter-segment eliminations | Corporate Centre | |||
Disclosure of operating segments [line items] | |||
Net operating income/(expense) before change in expected credit losses and other credit impairment charges | (47) | (290) | 1,061 |
Operating segments, including adjustments | |||
Disclosure of operating segments [line items] | |||
Net operating income/(expense) before change in expected credit losses and other credit impairment charges | 55,409 | 52,331 | 50,173 |
of which: net interest income/(expense) | 30,619 | 29,618 | 27,454 |
Change in expected credit losses and other credit impairment charges | (2,756) | (1,689) | (1,686) |
Net operating income | 52,653 | 50,642 | 48,487 |
Total operating expenses | (32,795) | (31,906) | (30,259) |
Operating profit | 19,858 | 18,736 | 18,228 |
Share of profit in associates and joint ventures | 2,354 | 2,446 | 2,328 |
Profit before tax | $ 22,212 | $ 21,182 | $ 20,556 |
Share of HSBC’s adjusted profit before tax | 100.00% | 100.00% | 100.00% |
Adjusted cost efficiency ratio | 0.592 | 0.610 | 0.603 |
Loans and advances to customers (net) | $ 1,036,743 | $ 994,276 | $ 940,923 |
Interests in associates and joint ventures | 24,474 | 22,301 | 21,922 |
Total external assets | 2,715,152 | 2,589,195 | 2,472,597 |
Customer accounts | 1,439,115 | 1,379,738 | 1,339,072 |
Operating segments, including adjustments | Retail Banking and Wealth Management | |||
Disclosure of operating segments [line items] | |||
Net operating income/(expense) before change in expected credit losses and other credit impairment charges | 17,026 | 16,794 | 16,582 |
of which: net interest income/(expense) | 16,525 | 15,432 | 13,573 |
Change in expected credit losses and other credit impairment charges | (1,390) | (1,134) | (941) |
Net operating income | 22,010 | 20,240 | 18,767 |
Total operating expenses | (14,017) | (13,255) | (12,386) |
Operating profit | 7,993 | 6,985 | 6,381 |
Share of profit in associates and joint ventures | 55 | 33 | 12 |
Profit before tax | $ 8,048 | $ 7,018 | $ 6,393 |
Share of HSBC’s adjusted profit before tax | 36.20% | 33.10% | 31.10% |
Adjusted cost efficiency ratio | 0.599 | 0.620 | 0.628 |
Loans and advances to customers (net) | $ 395,393 | $ 367,917 | $ 337,768 |
Interests in associates and joint ventures | 449 | 398 | 364 |
Total external assets | 526,621 | 482,967 | 457,126 |
Customer accounts | 689,283 | 649,172 | 629,442 |
Operating segments, including adjustments | Commercial Banking | |||
Disclosure of operating segments [line items] | |||
Net operating income/(expense) before change in expected credit losses and other credit impairment charges | 14,805 | 14,226 | 13,009 |
of which: net interest income/(expense) | 11,226 | 10,380 | 8,822 |
Change in expected credit losses and other credit impairment charges | (1,184) | (712) | (468) |
Net operating income | 14,108 | 13,753 | 12,415 |
Total operating expenses | (6,801) | (6,275) | (5,770) |
Operating profit | 7,307 | 7,478 | 6,645 |
Share of profit in associates and joint ventures | 0 | 0 | 0 |
Profit before tax | $ 7,307 | $ 7,478 | $ 6,645 |
Share of HSBC’s adjusted profit before tax | 32.90% | 35.30% | 32.30% |
Adjusted cost efficiency ratio | 0.445 | 0.434 | 0.448 |
Loans and advances to customers (net) | $ 346,060 | $ 337,099 | $ 308,870 |
Interests in associates and joint ventures | 0 | 0 | 0 |
Total external assets | 367,509 | 364,638 | 340,211 |
Customer accounts | 386,522 | 362,274 | 356,488 |
Operating segments, including adjustments | Global Banking and Markets | |||
Disclosure of operating segments [line items] | |||
Net operating income/(expense) before change in expected credit losses and other credit impairment charges | 18,517 | 17,554 | 16,086 |
of which: net interest income/(expense) | 5,601 | 5,122 | 4,746 |
Change in expected credit losses and other credit impairment charges | (153) | 31 | (439) |
Net operating income | 14,763 | 15,056 | 14,384 |
Total operating expenses | (9,417) | (9,170) | (8,709) |
Operating profit | 5,346 | 5,886 | 5,675 |
Share of profit in associates and joint ventures | 0 | 0 | 0 |
Profit before tax | $ 5,346 | $ 5,886 | $ 5,675 |
Share of HSBC’s adjusted profit before tax | 24.10% | 27.80% | 27.60% |
Adjusted cost efficiency ratio | 0.631 | 0.610 | 0.588 |
Loans and advances to customers (net) | $ 246,266 | $ 247,125 | $ 246,890 |
Interests in associates and joint ventures | 0 | 0 | 0 |
Total external assets | 1,066,584 | 1,025,737 | 960,732 |
Customer accounts | 292,284 | 294,584 | 276,634 |
Operating segments, including adjustments | Global Private Banking | |||
Disclosure of operating segments [line items] | |||
Net operating income/(expense) before change in expected credit losses and other credit impairment charges | 1,445 | 1,474 | 1,433 |
of which: net interest income/(expense) | 879 | 873 | 812 |
Change in expected credit losses and other credit impairment charges | (22) | 7 | (17) |
Net operating income | 1,826 | 1,764 | 1,681 |
Total operating expenses | (1,424) | (1,425) | (1,384) |
Operating profit | 402 | 339 | 297 |
Share of profit in associates and joint ventures | 0 | 0 | 0 |
Profit before tax | $ 402 | $ 339 | $ 297 |
Share of HSBC’s adjusted profit before tax | 1.80% | 1.60% | 1.40% |
Adjusted cost efficiency ratio | 0.771 | 0.811 | 0.815 |
Loans and advances to customers (net) | $ 47,593 | $ 39,602 | $ 40,013 |
Interests in associates and joint ventures | 0 | 0 | 0 |
Total external assets | 52,224 | 45,520 | 46,706 |
Customer accounts | 62,943 | 65,053 | 65,491 |
Operating segments, including adjustments | Corporate Centre | |||
Disclosure of operating segments [line items] | |||
Net operating income/(expense) before change in expected credit losses and other credit impairment charges | 3,616 | 2,283 | 3,063 |
of which: net interest income/(expense) | (3,612) | (2,189) | (499) |
Change in expected credit losses and other credit impairment charges | (7) | 119 | 179 |
Net operating income | (54) | (171) | 1,240 |
Total operating expenses | (1,136) | (1,781) | (2,010) |
Operating profit | (1,190) | (1,952) | (770) |
Share of profit in associates and joint ventures | 2,299 | 2,413 | 2,316 |
Profit before tax | $ 1,109 | $ 461 | $ 1,546 |
Share of HSBC’s adjusted profit before tax | 5.00% | 2.20% | 7.60% |
Adjusted cost efficiency ratio | (24.170) | (6.141) | 1.894 |
Loans and advances to customers (net) | $ 1,431 | $ 2,533 | $ 7,382 |
Interests in associates and joint ventures | 24,025 | 21,903 | 21,558 |
Total external assets | 702,214 | 670,333 | 667,822 |
Customer accounts | 8,083 | 8,655 | 11,017 |
Inter-segment | Retail Banking and Wealth Management | |||
Disclosure of operating segments [line items] | |||
Net operating income/(expense) before change in expected credit losses and other credit impairment charges | 6,374 | 4,580 | 3,126 |
Inter-segment | Commercial Banking | |||
Disclosure of operating segments [line items] | |||
Net operating income/(expense) before change in expected credit losses and other credit impairment charges | 487 | 239 | (126) |
Inter-segment | Global Banking and Markets | |||
Disclosure of operating segments [line items] | |||
Net operating income/(expense) before change in expected credit losses and other credit impairment charges | (3,601) | (2,529) | (1,263) |
Inter-segment | Global Private Banking | |||
Disclosure of operating segments [line items] | |||
Net operating income/(expense) before change in expected credit losses and other credit impairment charges | 403 | 283 | 265 |
Inter-segment | Corporate Centre | |||
Disclosure of operating segments [line items] | |||
Net operating income/(expense) before change in expected credit losses and other credit impairment charges | $ (3,663) | $ (2,573) | $ (2,002) |
Segmental analysis - Reported e
Segmental analysis - Reported external net operating income by country/territory (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of geographical areas [line items] | |||
Reported external net operating income by country/territory | $ 56,098 | $ 53,780 | $ 51,445 |
UK | |||
Disclosure of geographical areas [line items] | |||
Reported external net operating income by country/territory | 9,011 | 10,340 | 11,057 |
Hong Kong | |||
Disclosure of geographical areas [line items] | |||
Reported external net operating income by country/territory | 18,449 | 17,162 | 14,992 |
US | |||
Disclosure of geographical areas [line items] | |||
Reported external net operating income by country/territory | 4,471 | 4,379 | 4,573 |
France | |||
Disclosure of geographical areas [line items] | |||
Reported external net operating income by country/territory | 1,942 | 1,898 | 2,203 |
Other Countries | |||
Disclosure of geographical areas [line items] | |||
Reported external net operating income by country/territory | $ 22,225 | $ 20,001 | $ 18,620 |
Segmental analysis - Adjusted r
Segmental analysis - Adjusted results reconciliation (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of operating segments [line items] | |||
Revenue | $ 56,098 | $ 53,780 | $ 51,445 |
Loan impairment charges and other credit risk provisions | (2,756) | (1,767) | (1,769) |
Operating expenses | (42,349) | (34,659) | (34,884) |
Share of profit in associates and joint ventures | 2,354 | 2,536 | 2,375 |
Profit (loss) before tax | 13,347 | 19,890 | 17,167 |
Adjusted | |||
Disclosure of operating segments [line items] | |||
Revenue | 55,409 | 52,331 | 50,173 |
Adjusted | |||
Disclosure of operating segments [line items] | |||
Revenue | 55,409 | 52,331 | 50,173 |
Loan impairment charges and other credit risk provisions | (2,756) | (1,689) | (1,686) |
Operating expenses | (32,795) | (31,906) | (30,259) |
Share of profit in associates and joint ventures | 2,354 | 2,446 | 2,328 |
Profit (loss) before tax | 22,212 | 21,182 | 20,556 |
Currency translation | |||
Disclosure of operating segments [line items] | |||
Revenue | 1,617 | 1,344 | |
Loan impairment charges and other credit risk provisions | (78) | (83) | |
Operating expenses | (1,109) | (915) | |
Share of profit in associates and joint ventures | 90 | 47 | |
Profit (loss) before tax | 520 | 393 | |
Significant items | |||
Disclosure of operating segments [line items] | |||
Revenue | 689 | (168) | (72) |
Loan impairment charges and other credit risk provisions | 0 | 0 | 0 |
Operating expenses | (9,554) | (1,644) | (3,710) |
Share of profit in associates and joint ventures | 0 | 0 | 0 |
Profit (loss) before tax | $ (8,865) | $ (1,812) | $ (3,782) |
Segmental analysis - Adjusted b
Segmental analysis - Adjusted balance sheet reconciliation (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of operating segments [line items] | |||
Loans and advances to customers (net) | $ 1,036,743 | $ 981,696 | $ 962,964 |
Interests in associates and joint ventures | 24,474 | 22,407 | 22,744 |
Total external assets | 2,715,152 | 2,558,124 | 2,521,771 |
Customer accounts | 1,439,115 | 1,362,643 | 1,364,462 |
Operating segments, including adjustments | |||
Disclosure of operating segments [line items] | |||
Loans and advances to customers (net) | 1,036,743 | 994,276 | 940,923 |
Interests in associates and joint ventures | 24,474 | 22,301 | 21,922 |
Total external assets | 2,715,152 | 2,589,195 | 2,472,597 |
Customer accounts | $ 1,439,115 | 1,379,738 | 1,339,072 |
Currency translation | |||
Disclosure of operating segments [line items] | |||
Loans and advances to customers (net) | (12,580) | 22,041 | |
Interests in associates and joint ventures | 106 | 822 | |
Total external assets | (31,071) | 49,174 | |
Customer accounts | $ (17,095) | $ 25,390 |
Segmental analysis - Adjusted_2
Segmental analysis - Adjusted profit reconciliation (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of operating segments [line items] | |||
Profit before tax | $ 13,347 | $ 19,890 | $ 17,167 |
– goodwill impairment | (7,349) | 0 | 0 |
Operating segments, including adjustments | |||
Disclosure of operating segments [line items] | |||
Profit before tax | 22,212 | 21,182 | 20,556 |
Significant items | |||
Disclosure of operating segments [line items] | |||
Profit before tax | (8,865) | (1,812) | (3,782) |
– customer redress programmes (revenue) | (163) | 53 | (108) |
– disposals, acquisitions and investment in new businesses (revenue) | 768 | (113) | 274 |
– fair value movements on financial instruments | 84 | (100) | (245) |
– costs of structural reform | (158) | (361) | (420) |
– costs to achieve | 0 | 0 | (3,002) |
– customer redress programmes (operating expenses) | (1,281) | (146) | (655) |
– disposals, acquisitions and investment in new businesses (operating expenses) | 0 | (52) | (53) |
– gain on partial settlement of pension obligation | 0 | 0 | 188 |
– goodwill impairment | (7,349) | 0 | 0 |
– past service costs of guaranteed minimum pension benefits equalisation | 0 | (228) | 0 |
– restructuring and other related costs | (827) | (66) | 0 |
– settlements and provisions in connection with legal and other regulatory matters | 61 | (816) | 198 |
– currency translation on significant items | 17 | 41 | |
Currency translation | |||
Disclosure of operating segments [line items] | |||
Profit before tax | $ 520 | $ 393 |
Trading assets - Summary of tra
Trading assets - Summary of trading assets (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of financial assets [line items] | ||
Financial assets | $ 2,621,427 | $ 2,471,203 |
Trading assets | ||
Disclosure of financial assets [line items] | ||
Financial assets | 254,271 | 238,130 |
Trading securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 175,444 | 177,234 |
Trading securities | Trading assets | ||
Disclosure of financial assets [line items] | ||
Financial assets | 226,659 | 214,109 |
Treasury and other eligible bills | Trading assets | ||
Disclosure of financial assets [line items] | ||
Financial assets | 21,789 | 22,674 |
Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 85,735 | 62,666 |
Debt securities | Trading assets | ||
Disclosure of financial assets [line items] | ||
Financial assets | 126,043 | 130,539 |
Equity securities | Trading assets | ||
Disclosure of financial assets [line items] | ||
Financial assets | 78,827 | 60,896 |
Loans and advances to banks | ||
Disclosure of financial assets [line items] | ||
Financial assets | 69,203 | 72,167 |
Loans and advances to banks | Trading assets | ||
Disclosure of financial assets [line items] | ||
Financial assets | 8,402 | 10,425 |
Loans and advances to customers | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,036,743 | 981,696 |
Loans and advances to customers | Trading assets | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 19,210 | $ 13,596 |
Trading assets - Trading securi
Trading assets - Trading securities (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of financial assets [line items] | ||
Financial assets | $ 2,621,427 | $ 2,471,203 |
Trading assets | ||
Disclosure of financial assets [line items] | ||
Financial assets | 254,271 | 238,130 |
Trading securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 175,444 | 177,234 |
Trading securities | Trading assets | ||
Disclosure of financial assets [line items] | ||
Financial assets | 226,659 | 214,109 |
US Treasury and US Government agencies | Trading assets | ||
Disclosure of financial assets [line items] | ||
Financial assets | 25,722 | 34,664 |
UK Government | Trading assets | ||
Disclosure of financial assets [line items] | ||
Financial assets | 10,040 | 9,710 |
Hong Kong Government | Trading assets | ||
Disclosure of financial assets [line items] | ||
Financial assets | 9,783 | 10,772 |
Other governments | Trading assets | ||
Disclosure of financial assets [line items] | ||
Financial assets | 72,456 | 66,530 |
Asset-backed securities | Trading assets | ||
Disclosure of financial assets [line items] | ||
Financial assets | 4,691 | 3,351 |
Corporate debt and other securities | Trading assets | ||
Disclosure of financial assets [line items] | ||
Financial assets | 25,140 | 28,186 |
Equity securities | Trading assets | ||
Disclosure of financial assets [line items] | ||
Financial assets | 78,827 | 60,896 |
Debt securities issued by banks and other financial institutions | Trading assets | ||
Disclosure of financial assets [line items] | ||
Financial assets | 17,846 | 18,918 |
Debt securities issued by banks and other financial institutions, guaranteed by governments | Trading assets | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 2,637 | $ 2,367 |
Fair values of financial inst_5
Fair values of financial instruments carried at fair value - Financial instruments carried at fair value and bases of valuation (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | $ 2,621,427 | $ 2,471,203 | |
Financial liabilities | 2,409,361 | 2,260,288 | |
Trading liabilities | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 83,170 | 84,431 | |
Financial liabilities designated at fair value | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 164,466 | 148,505 | |
Trading assets | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 254,271 | 238,130 | |
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 2,345 | 2,349 | |
Financial investments | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 357,577 | 344,767 | |
Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 16,887 | 16,674 | |
Financial liabilities | 7,371 | 7,142 | |
Recurring fair value measurement | Trading liabilities | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 83,170 | 84,431 | |
Recurring fair value measurement | Trading liabilities | Level 1 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 66,925 | 66,300 | |
Recurring fair value measurement | Trading liabilities | Level 2 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 16,192 | 18,073 | |
Recurring fair value measurement | Trading liabilities | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 53 | 58 | $ 93 |
Recurring fair value measurement | Financial liabilities designated at fair value | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 164,466 | 148,505 | |
Recurring fair value measurement | Financial liabilities designated at fair value | Level 1 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 9,549 | 6,815 | |
Recurring fair value measurement | Financial liabilities designated at fair value | Level 2 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 149,901 | 136,362 | |
Recurring fair value measurement | Financial liabilities designated at fair value | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 5,016 | 5,328 | 4,107 |
Recurring fair value measurement | Derivatives | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 239,497 | 205,835 | |
Recurring fair value measurement | Derivatives | Level 1 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 1,331 | 2,845 | |
Recurring fair value measurement | Derivatives | Level 2 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 235,864 | 201,234 | |
Recurring fair value measurement | Derivatives | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 2,302 | 1,756 | 1,949 |
Recurring fair value measurement | Trading assets | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 254,271 | 238,130 | |
Recurring fair value measurement | Trading assets | Level 1 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 186,653 | 178,100 | |
Recurring fair value measurement | Trading assets | Level 2 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 62,639 | 53,271 | |
Recurring fair value measurement | Trading assets | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 4,979 | 6,759 | 5,080 |
Recurring fair value measurement | Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 43,627 | 41,111 | |
Recurring fair value measurement | Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Level 1 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 26,505 | 23,125 | |
Recurring fair value measurement | Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Level 2 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 9,373 | 12,494 | |
Recurring fair value measurement | Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 7,749 | 5,492 | 3,958 |
Recurring fair value measurement | Derivatives | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 242,995 | 207,825 | |
Recurring fair value measurement | Derivatives | Level 1 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 1,728 | 1,868 | |
Recurring fair value measurement | Derivatives | Level 2 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 239,131 | 203,534 | |
Recurring fair value measurement | Derivatives | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 2,136 | 2,423 | 2,444 |
Recurring fair value measurement | Financial investments | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 357,577 | 344,767 | |
Recurring fair value measurement | Financial investments | Level 1 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 271,467 | 263,885 | |
Recurring fair value measurement | Financial investments | Level 2 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 84,087 | 78,882 | |
Recurring fair value measurement | Financial investments | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | $ 2,023 | $ 2,000 | $ 1,767 |
Fair values of financial inst_6
Fair values of financial instruments carried at fair value - Transfers between Level 1 and Level 2 fair values (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Trading liabilities | ||
Liabilities | ||
Transfers from Level 1 to Level 2 | $ 278 | $ 79 |
Transfers from Level 2 to Level 1 | 220 | 1,821 |
Designated at fair value | ||
Liabilities | ||
Transfers from Level 1 to Level 2 | 0 | 0 |
Transfers from Level 2 to Level 1 | 0 | 0 |
Derivatives | ||
Liabilities | ||
Transfers from Level 1 to Level 2 | 0 | 0 |
Transfers from Level 2 to Level 1 | 117 | 138 |
Financial investments | ||
Assets | ||
Transfers from Level 1 to Level 2 | 5,257 | 367 |
Transfers from Level 2 to Level 1 | 3,486 | 17,861 |
Trading assets | ||
Assets | ||
Transfers from Level 1 to Level 2 | 3,304 | 435 |
Transfers from Level 2 to Level 1 | 2,726 | 4,959 |
Designated and otherwise mandatorily measured at fair value | ||
Assets | ||
Transfers from Level 1 to Level 2 | 1,332 | 2 |
Transfers from Level 2 to Level 1 | 673 | 85 |
Derivatives | ||
Assets | ||
Transfers from Level 1 to Level 2 | 24 | 1 |
Transfers from Level 2 to Level 1 | $ 111 | $ 128 |
Fair values of financial inst_7
Fair values of financial instruments carried at fair value - Global Banking and Markets fair value adjustments (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Global Banking and Markets | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | $ 1,183 | $ 1,206 |
Corporate Centre | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 128 | 141 |
Risk-related | Global Banking and Markets | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 1,040 | 1,042 |
Risk-related | Corporate Centre | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 125 | 138 |
– bid-offer | Global Banking and Markets | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 428 | 430 |
– bid-offer | Corporate Centre | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 79 | 76 |
– uncertainty | Global Banking and Markets | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 115 | 99 |
– uncertainty | Corporate Centre | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 1 | 6 |
– credit valuation adjustment | Global Banking and Markets | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 355 | 442 |
– credit valuation adjustment | Corporate Centre | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 38 | 52 |
– debt valuation adjustment | Global Banking and Markets | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | (126) | (198) |
– debt valuation adjustment | Corporate Centre | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 0 | 0 |
– funding fair value adjustment | Global Banking and Markets | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 241 | 256 |
– funding fair value adjustment | Corporate Centre | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 7 | 4 |
– other | Global Banking and Markets | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 27 | 13 |
– other | Corporate Centre | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 0 | 0 |
Model-related | Global Banking and Markets | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 71 | 79 |
Model-related | Corporate Centre | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 3 | 3 |
– model limitation | Global Banking and Markets | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 68 | 79 |
– model limitation | Corporate Centre | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 3 | 3 |
– other | Global Banking and Markets | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 3 | 0 |
– other | Corporate Centre | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 0 | 0 |
Inception profit (Day 1 P&L reserves) | Global Banking and Markets | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 72 | 85 |
Inception profit (Day 1 P&L reserves) | Corporate Centre | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | $ 0 | $ 0 |
Fair values of financial inst_8
Fair values of financial instruments carried at fair value - Financial instruments measured at fair value using a valuation technique with significant unobservable inputs - Level 3 (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | $ 2,621,427 | $ 2,471,203 | |
Financial liabilities | 2,409,361 | 2,260,288 | |
Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 16,887 | 16,674 | |
Financial liabilities | 7,371 | 7,142 | |
Private equity including strategic investments | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 4 | 12 | |
Asset-backed securities | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 0 | 0 | |
Loans held for securitisation | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 0 | 0 | |
Structured notes | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 5,063 | 5,374 | |
Derivatives with monolines | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 0 | 0 | |
Other derivatives | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 2,302 | 1,755 | |
Other portfolios | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 2 | 1 | |
Trading liabilities | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 83,170 | 84,431 | |
Trading liabilities | Recurring fair value measurement | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 83,170 | 84,431 | |
Trading liabilities | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 53 | 58 | $ 93 |
Trading liabilities | Private equity including strategic investments | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 4 | 12 | |
Trading liabilities | Asset-backed securities | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 0 | 0 | |
Trading liabilities | Loans held for securitisation | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 0 | 0 | |
Trading liabilities | Structured notes | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 47 | 46 | |
Trading liabilities | Derivatives with monolines | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 0 | 0 | |
Trading liabilities | Other derivatives | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 0 | 0 | |
Trading liabilities | Other portfolios | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 2 | 0 | |
Financial liabilities designated at fair value | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 164,466 | 148,505 | |
Financial liabilities designated at fair value | Recurring fair value measurement | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 164,466 | 148,505 | |
Financial liabilities designated at fair value | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 5,016 | 5,328 | 4,107 |
Financial liabilities designated at fair value | Private equity including strategic investments | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 0 | 0 | |
Financial liabilities designated at fair value | Asset-backed securities | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 0 | 0 | |
Financial liabilities designated at fair value | Loans held for securitisation | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 0 | 0 | |
Financial liabilities designated at fair value | Structured notes | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 5,016 | 5,328 | |
Financial liabilities designated at fair value | Derivatives with monolines | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 0 | 0 | |
Financial liabilities designated at fair value | Other derivatives | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 0 | 0 | |
Financial liabilities designated at fair value | Other portfolios | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 0 | 0 | |
Derivatives | Recurring fair value measurement | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 239,497 | 205,835 | |
Derivatives | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 2,302 | 1,756 | 1,949 |
Derivatives | Private equity including strategic investments | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 0 | 0 | |
Derivatives | Asset-backed securities | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 0 | 0 | |
Derivatives | Loans held for securitisation | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 0 | 0 | |
Derivatives | Structured notes | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 0 | 0 | |
Derivatives | Derivatives with monolines | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 0 | 0 | |
Derivatives | Other derivatives | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 2,302 | 1,755 | |
Derivatives | Other portfolios | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 0 | 1 | |
Private equity including strategic investments | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 8,009 | 5,553 | |
Asset-backed securities | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 1,836 | 2,202 | |
Loans held for securitisation | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 40 | 49 | |
Structured notes | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 3 | 3 | |
Derivatives with monolines | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 66 | 65 | |
Other derivatives | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 2,070 | 2,358 | |
Other portfolios | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 4,863 | 6,444 | |
Financial investments | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 357,577 | 344,767 | |
Financial investments | Recurring fair value measurement | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 357,577 | 344,767 | |
Financial investments | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 2,023 | 2,000 | 1,767 |
Financial investments | Private equity including strategic investments | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 716 | 427 | |
Financial investments | Asset-backed securities | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 874 | 1,030 | |
Financial investments | Loans held for securitisation | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 0 | 0 | |
Financial investments | Structured notes | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 0 | 0 | |
Financial investments | Derivatives with monolines | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 0 | 0 | |
Financial investments | Other derivatives | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 0 | 0 | |
Financial investments | Other portfolios | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 433 | 543 | |
Trading assets | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 254,271 | 238,130 | |
Trading assets | Recurring fair value measurement | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 254,271 | 238,130 | |
Trading assets | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 4,979 | 6,759 | 5,080 |
Trading assets | Private equity including strategic investments | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 4 | 20 | |
Trading assets | Asset-backed securities | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 4,691 | 3,351 | |
Trading assets | Asset-backed securities | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 934 | 1,140 | |
Trading assets | Loans held for securitisation | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 1 | 0 | |
Trading assets | Structured notes | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 3 | 3 | |
Trading assets | Derivatives with monolines | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 0 | 0 | |
Trading assets | Other derivatives | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 0 | 0 | |
Trading assets | Other portfolios | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 4,037 | 5,596 | |
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 2,345 | 2,349 | |
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Recurring fair value measurement | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 43,627 | 41,111 | |
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 7,749 | 5,492 | 3,958 |
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Private equity including strategic investments | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 7,289 | 5,106 | |
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Asset-backed securities | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 0 | 0 | |
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Asset-backed securities | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 28 | 32 | |
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Loans held for securitisation | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 39 | 49 | |
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Structured notes | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 0 | 0 | |
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Derivatives with monolines | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 0 | 0 | |
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Other derivatives | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 0 | 0 | |
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Other portfolios | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 393 | 305 | |
Derivatives | Recurring fair value measurement | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 242,995 | 207,825 | |
Derivatives | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 2,136 | 2,423 | $ 2,444 |
Derivatives | Private equity including strategic investments | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 0 | 0 | |
Derivatives | Asset-backed securities | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 0 | 0 | |
Derivatives | Loans held for securitisation | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 0 | 0 | |
Derivatives | Structured notes | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 0 | 0 | |
Derivatives | Derivatives with monolines | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 66 | 65 | |
Derivatives | Other derivatives | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 2,070 | 2,358 | |
Derivatives | Other portfolios | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | $ 0 | $ 0 |
Fair values of financial inst_9
Fair values of financial instruments carried at fair value - Movement in Level 3 financial instruments (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Reconciliation of changes in fair value measurement, assets [abstract] | |||
Financial assets, beginning balance | $ 2,471,203 | ||
– financial investments: fair value gains/(losses) | 1,793 | $ (168) | |
– cash flow hedges: fair value gains/(losses) | 551 | (267) | $ (1,046) |
– exchange differences | 1,044 | (7,156) | 8,939 |
Financial assets, ending balance | 2,621,427 | 2,471,203 | |
Reconciliation of changes in fair value measurement, liabilities [abstract] | |||
Financial liabilities, beginning balance | 2,260,288 | ||
– cash flow hedges: fair value gains/(losses) | 551 | (267) | (1,046) |
– exchange differences | 1,044 | (7,156) | 8,939 |
Financial liabilities, ending balance | 2,409,361 | 2,260,288 | |
Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
Financial assets, beginning balance | 16,674 | ||
Financial assets, ending balance | 16,887 | 16,674 | |
Reconciliation of changes in fair value measurement, liabilities [abstract] | |||
Financial liabilities, beginning balance | 7,142 | ||
Financial liabilities, ending balance | 7,371 | 7,142 | |
Trading liabilities | |||
Reconciliation of changes in fair value measurement, liabilities [abstract] | |||
Financial liabilities, beginning balance | 84,431 | ||
Financial liabilities, ending balance | 83,170 | 84,431 | |
Trading liabilities | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, liabilities [abstract] | |||
Financial liabilities, beginning balance | 84,431 | ||
Financial liabilities, ending balance | 83,170 | 84,431 | |
Trading liabilities | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
– cash flow hedges: fair value gains/(losses) | 0 | ||
– exchange differences | 1 | (3) | |
Reconciliation of changes in fair value measurement, liabilities [abstract] | |||
Financial liabilities, beginning balance | 58 | 93 | |
Total gains/(losses) recognised in profit or loss | (4) | (4) | |
Total gains/(losses) recognised in other comprehensive income (‘OCI’) | 1 | (3) | |
– cash flow hedges: fair value gains/(losses) | 0 | ||
– exchange differences | 1 | (3) | |
Purchases | 8 | 3 | |
New issuances | 6 | 6 | |
Sales, fair value measurement, liabilities | (9) | (11) | |
Settlements, fair value measurement, liabilities | (7) | (2) | |
Transfers out of Level 3 of fair value hierarchy, liabilities | (9) | (24) | |
Transfers into Level 3 of fair value hierarchy, liabilities | 9 | 0 | |
Financial liabilities, ending balance | 53 | 58 | 93 |
Unrealised gains/(losses) recognised in profit or loss relating to liabilities held | 0 | (5) | |
Financial liabilities designated at fair value | |||
Reconciliation of changes in fair value measurement, liabilities [abstract] | |||
Financial liabilities, beginning balance | 148,505 | ||
Financial liabilities, ending balance | 164,466 | 148,505 | |
Financial liabilities designated at fair value | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, liabilities [abstract] | |||
Financial liabilities, beginning balance | 148,505 | ||
Financial liabilities, ending balance | 164,466 | 148,505 | |
Financial liabilities designated at fair value | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
– cash flow hedges: fair value gains/(losses) | 0 | ||
– exchange differences | 18 | (144) | |
Reconciliation of changes in fair value measurement, liabilities [abstract] | |||
Financial liabilities, beginning balance | 5,328 | 4,107 | |
Total gains/(losses) recognised in profit or loss | 195 | (637) | |
Total gains/(losses) recognised in other comprehensive income (‘OCI’) | 18 | (144) | |
– cash flow hedges: fair value gains/(losses) | 0 | ||
– exchange differences | 18 | (144) | |
Purchases | 157 | 76 | |
New issuances | 1,601 | 2,442 | |
Sales, fair value measurement, liabilities | (193) | 0 | |
Settlements, fair value measurement, liabilities | (1,048) | (32) | |
Transfers out of Level 3 of fair value hierarchy, liabilities | (1,079) | (1,112) | |
Transfers into Level 3 of fair value hierarchy, liabilities | 37 | 628 | |
Financial liabilities, ending balance | 5,016 | 5,328 | 4,107 |
Unrealised gains/(losses) recognised in profit or loss relating to liabilities held | 57 | 274 | |
Derivatives | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, liabilities [abstract] | |||
Financial liabilities, beginning balance | 205,835 | ||
Financial liabilities, ending balance | 239,497 | 205,835 | |
Derivatives | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
– cash flow hedges: fair value gains/(losses) | 2 | ||
– exchange differences | 52 | (84) | |
Reconciliation of changes in fair value measurement, liabilities [abstract] | |||
Financial liabilities, beginning balance | 1,756 | 1,949 | |
Total gains/(losses) recognised in profit or loss | 930 | 255 | |
Total gains/(losses) recognised in other comprehensive income (‘OCI’) | 52 | (82) | |
– cash flow hedges: fair value gains/(losses) | 2 | ||
– exchange differences | 52 | (84) | |
Purchases | 0 | 0 | |
New issuances | 0 | 0 | |
Sales, fair value measurement, liabilities | 0 | 0 | |
Settlements, fair value measurement, liabilities | (162) | (18) | |
Transfers out of Level 3 of fair value hierarchy, liabilities | (473) | (464) | |
Transfers into Level 3 of fair value hierarchy, liabilities | 199 | 116 | |
Financial liabilities, ending balance | 2,302 | 1,756 | 1,949 |
Unrealised gains/(losses) recognised in profit or loss relating to liabilities held | (407) | (351) | |
Financial investments | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
Financial assets, beginning balance | 344,767 | ||
Financial assets, ending balance | 357,577 | 344,767 | |
Financial investments | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
Financial assets, beginning balance | 344,767 | ||
Financial assets, ending balance | 357,577 | 344,767 | |
Financial investments | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
Financial assets, beginning balance | 2,000 | 1,767 | |
Total gains/(losses) recognised in profit or loss | 6 | 251 | |
Total gains/(losses) recognised in other comprehensive income (‘OCI’) | 269 | 17 | |
– financial investments: fair value gains/(losses) | 261 | 15 | |
– cash flow hedges: fair value gains/(losses) | 0 | ||
– exchange differences | 8 | 2 | |
Purchases | 271 | 275 | |
New issuances | 0 | 0 | |
Sales, fair value measurement, assets | (10) | (51) | |
Settlements, fair value measurement, assets | (329) | (141) | |
Transfers out of Level 3 of fair value hierarchy, assets | (471) | (685) | |
Transfers into Level 3 of fair value hierarchy, assets | 287 | 567 | |
Financial assets, ending balance | 2,023 | 2,000 | 1,767 |
Unrealised gains/(losses) recognised in profit or loss relating to assets held | (4) | 0 | |
Reconciliation of changes in fair value measurement, liabilities [abstract] | |||
– cash flow hedges: fair value gains/(losses) | 0 | ||
– exchange differences | 8 | 2 | |
Trading assets | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
Financial assets, beginning balance | 238,130 | ||
Financial assets, ending balance | 254,271 | 238,130 | |
Trading assets | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
Financial assets, beginning balance | 238,130 | ||
Financial assets, ending balance | 254,271 | 238,130 | |
Trading assets | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
Financial assets, beginning balance | 6,759 | 5,080 | |
Total gains/(losses) recognised in profit or loss | (112) | 284 | |
Total gains/(losses) recognised in other comprehensive income (‘OCI’) | 76 | (274) | |
– financial investments: fair value gains/(losses) | 0 | 0 | |
– cash flow hedges: fair value gains/(losses) | 0 | ||
– exchange differences | 76 | (274) | |
Purchases | 2,206 | 4,377 | |
New issuances | 154 | 975 | |
Sales, fair value measurement, assets | (895) | (1,589) | |
Settlements, fair value measurement, assets | (2,107) | (2,021) | |
Transfers out of Level 3 of fair value hierarchy, assets | (1,558) | (1,402) | |
Transfers into Level 3 of fair value hierarchy, assets | 456 | 1,329 | |
Financial assets, ending balance | 4,979 | 6,759 | 5,080 |
Unrealised gains/(losses) recognised in profit or loss relating to assets held | (22) | (5) | |
Reconciliation of changes in fair value measurement, liabilities [abstract] | |||
– cash flow hedges: fair value gains/(losses) | 0 | ||
– exchange differences | 76 | (274) | |
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
Financial assets, beginning balance | 2,349 | ||
Financial assets, ending balance | 2,345 | 2,349 | |
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
Financial assets, beginning balance | 41,111 | ||
Financial assets, ending balance | 43,627 | 41,111 | |
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
Financial assets, beginning balance | 5,492 | 3,958 | |
Total gains/(losses) recognised in profit or loss | 598 | 608 | |
Total gains/(losses) recognised in other comprehensive income (‘OCI’) | (1) | (107) | |
– financial investments: fair value gains/(losses) | 0 | 0 | |
– cash flow hedges: fair value gains/(losses) | 6 | ||
– exchange differences | (1) | (113) | |
Purchases | 2,353 | 2,172 | |
New issuances | 0 | 0 | |
Sales, fair value measurement, assets | (276) | (395) | |
Settlements, fair value measurement, assets | (434) | (541) | |
Transfers out of Level 3 of fair value hierarchy, assets | (23) | (285) | |
Transfers into Level 3 of fair value hierarchy, assets | 40 | 82 | |
Financial assets, ending balance | 7,749 | 5,492 | 3,958 |
Unrealised gains/(losses) recognised in profit or loss relating to assets held | 477 | 199 | |
Reconciliation of changes in fair value measurement, liabilities [abstract] | |||
– cash flow hedges: fair value gains/(losses) | 6 | ||
– exchange differences | (1) | (113) | |
Derivatives | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
Financial assets, beginning balance | 207,825 | ||
Financial assets, ending balance | 242,995 | 207,825 | |
Derivatives | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
Financial assets, beginning balance | 2,423 | 2,444 | |
Total gains/(losses) recognised in profit or loss | 278 | 597 | |
Total gains/(losses) recognised in other comprehensive income (‘OCI’) | 49 | (113) | |
– financial investments: fair value gains/(losses) | 0 | 0 | |
– cash flow hedges: fair value gains/(losses) | 6 | ||
– exchange differences | 49 | (119) | |
Purchases | 0 | 0 | |
New issuances | 0 | 0 | |
Sales, fair value measurement, assets | 0 | 0 | |
Settlements, fair value measurement, assets | (100) | (191) | |
Transfers out of Level 3 of fair value hierarchy, assets | (710) | (337) | |
Transfers into Level 3 of fair value hierarchy, assets | 196 | 23 | |
Financial assets, ending balance | 2,136 | 2,423 | $ 2,444 |
Unrealised gains/(losses) recognised in profit or loss relating to assets held | 279 | 342 | |
Reconciliation of changes in fair value measurement, liabilities [abstract] | |||
– cash flow hedges: fair value gains/(losses) | 6 | ||
– exchange differences | 49 | (119) | |
Net income from financial instruments held for trading or managed on a fair value basis | Trading liabilities | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, liabilities [abstract] | |||
Total gains/(losses) recognised in profit or loss | (4) | (4) | |
Unrealised gains/(losses) recognised in profit or loss relating to liabilities held | 0 | (5) | |
Net income from financial instruments held for trading or managed on a fair value basis | Financial liabilities designated at fair value | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, liabilities [abstract] | |||
Total gains/(losses) recognised in profit or loss | 0 | 0 | |
Unrealised gains/(losses) recognised in profit or loss relating to liabilities held | 0 | 0 | |
Net income from financial instruments held for trading or managed on a fair value basis | Derivatives | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, liabilities [abstract] | |||
Total gains/(losses) recognised in profit or loss | 930 | 255 | |
Unrealised gains/(losses) recognised in profit or loss relating to liabilities held | (407) | (351) | |
Net income from financial instruments held for trading or managed on a fair value basis | Financial investments | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
Total gains/(losses) recognised in profit or loss | 0 | 0 | |
Unrealised gains/(losses) recognised in profit or loss relating to assets held | 0 | 0 | |
Net income from financial instruments held for trading or managed on a fair value basis | Trading assets | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
Total gains/(losses) recognised in profit or loss | (112) | 284 | |
Unrealised gains/(losses) recognised in profit or loss relating to assets held | (22) | (5) | |
Net income from financial instruments held for trading or managed on a fair value basis | Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
Total gains/(losses) recognised in profit or loss | 0 | 0 | |
Unrealised gains/(losses) recognised in profit or loss relating to assets held | 0 | 0 | |
Net income from financial instruments held for trading or managed on a fair value basis | Derivatives | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
Total gains/(losses) recognised in profit or loss | 278 | 597 | |
Unrealised gains/(losses) recognised in profit or loss relating to assets held | 279 | 342 | |
Changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss | Trading liabilities | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, liabilities [abstract] | |||
Total gains/(losses) recognised in profit or loss | 0 | 0 | |
Unrealised gains/(losses) recognised in profit or loss relating to liabilities held | 0 | 0 | |
Changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss | Financial liabilities designated at fair value | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, liabilities [abstract] | |||
Total gains/(losses) recognised in profit or loss | 195 | (637) | |
Unrealised gains/(losses) recognised in profit or loss relating to liabilities held | 57 | 274 | |
Changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss | Derivatives | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, liabilities [abstract] | |||
Total gains/(losses) recognised in profit or loss | 0 | 0 | |
Unrealised gains/(losses) recognised in profit or loss relating to liabilities held | 0 | 0 | |
Changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss | Financial investments | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
Total gains/(losses) recognised in profit or loss | 0 | 0 | |
Unrealised gains/(losses) recognised in profit or loss relating to assets held | 0 | 0 | |
Changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss | Trading assets | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
Total gains/(losses) recognised in profit or loss | 0 | 0 | |
Unrealised gains/(losses) recognised in profit or loss relating to assets held | 0 | 0 | |
Changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss | Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
Total gains/(losses) recognised in profit or loss | 598 | 608 | |
Unrealised gains/(losses) recognised in profit or loss relating to assets held | 477 | 199 | |
Changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss | Derivatives | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
Total gains/(losses) recognised in profit or loss | 0 | 0 | |
Unrealised gains/(losses) recognised in profit or loss relating to assets held | 0 | 0 | |
Gains less losses from financial investments at fair value through other comprehensive income | Trading liabilities | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, liabilities [abstract] | |||
Total gains/(losses) recognised in profit or loss | 0 | 0 | |
Gains less losses from financial investments at fair value through other comprehensive income | Financial liabilities designated at fair value | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, liabilities [abstract] | |||
Total gains/(losses) recognised in profit or loss | 0 | 0 | |
Gains less losses from financial investments at fair value through other comprehensive income | Derivatives | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, liabilities [abstract] | |||
Total gains/(losses) recognised in profit or loss | 0 | 0 | |
Gains less losses from financial investments at fair value through other comprehensive income | Financial investments | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
Total gains/(losses) recognised in profit or loss | 10 | 251 | |
Gains less losses from financial investments at fair value through other comprehensive income | Trading assets | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
Total gains/(losses) recognised in profit or loss | 0 | 0 | |
Gains less losses from financial investments at fair value through other comprehensive income | Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
Total gains/(losses) recognised in profit or loss | 0 | 0 | |
Gains less losses from financial investments at fair value through other comprehensive income | Derivatives | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
Total gains/(losses) recognised in profit or loss | 0 | 0 | |
Expected credit loss charges and other credit risk charges | Trading liabilities | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, liabilities [abstract] | |||
Total gains/(losses) recognised in profit or loss | 0 | ||
Expected credit loss charges and other credit risk charges | Financial liabilities designated at fair value | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, liabilities [abstract] | |||
Total gains/(losses) recognised in profit or loss | 0 | ||
Expected credit loss charges and other credit risk charges | Derivatives | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, liabilities [abstract] | |||
Total gains/(losses) recognised in profit or loss | 0 | ||
Expected credit loss charges and other credit risk charges | Financial investments | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
Total gains/(losses) recognised in profit or loss | (4) | ||
Expected credit loss charges and other credit risk charges | Trading assets | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
Total gains/(losses) recognised in profit or loss | 0 | ||
Expected credit loss charges and other credit risk charges | Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
Total gains/(losses) recognised in profit or loss | 0 | ||
Expected credit loss charges and other credit risk charges | Derivatives | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
Total gains/(losses) recognised in profit or loss | 0 | ||
Loan impairment recoveries and other credit risk provisions (‘LICs’) | Trading liabilities | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, liabilities [abstract] | |||
Unrealised gains/(losses) recognised in profit or loss relating to liabilities held | 0 | 0 | |
Loan impairment recoveries and other credit risk provisions (‘LICs’) | Financial liabilities designated at fair value | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, liabilities [abstract] | |||
Unrealised gains/(losses) recognised in profit or loss relating to liabilities held | 0 | 0 | |
Loan impairment recoveries and other credit risk provisions (‘LICs’) | Derivatives | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, liabilities [abstract] | |||
Unrealised gains/(losses) recognised in profit or loss relating to liabilities held | 0 | 0 | |
Loan impairment recoveries and other credit risk provisions (‘LICs’) | Financial investments | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
Unrealised gains/(losses) recognised in profit or loss relating to assets held | (4) | 0 | |
Loan impairment recoveries and other credit risk provisions (‘LICs’) | Trading assets | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
Unrealised gains/(losses) recognised in profit or loss relating to assets held | 0 | 0 | |
Loan impairment recoveries and other credit risk provisions (‘LICs’) | Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
Unrealised gains/(losses) recognised in profit or loss relating to assets held | 0 | 0 | |
Loan impairment recoveries and other credit risk provisions (‘LICs’) | Derivatives | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
Unrealised gains/(losses) recognised in profit or loss relating to assets held | $ 0 | $ 0 |
Fair values of financial ins_10
Fair values of financial instruments carried at fair value - Sensitivity of Level 3 fair values to reasonably possible alternative assumptions (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Favourable changes reflected in profit or loss | $ 835 | $ 697 |
Unfavourable changes reflected in profit or loss | (700) | (603) |
Favourable changes reflected in OCI | 22 | 23 |
Un-favourable changes reflected in OCI | (22) | (22) |
Derivatives, trading assets | Derivatives, trading liabilities | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Favourable changes reflected in profit or loss | 255 | 269 |
Unfavourable changes reflected in profit or loss | (230) | (257) |
Favourable changes reflected in OCI | 0 | 0 |
Un-favourable changes reflected in OCI | 0 | 0 |
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Financial liabilities designated at fair value | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Favourable changes reflected in profit or loss | 532 | 394 |
Unfavourable changes reflected in profit or loss | (417) | (310) |
Favourable changes reflected in OCI | 0 | 0 |
Un-favourable changes reflected in OCI | 0 | 0 |
Financial investments | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Favourable changes reflected in profit or loss | 48 | 34 |
Unfavourable changes reflected in profit or loss | (53) | (36) |
Favourable changes reflected in OCI | 22 | 23 |
Un-favourable changes reflected in OCI | $ (22) | $ (22) |
Fair values of financial ins_11
Fair values of financial instruments carried at fair value - Quantitative information about significant unobservable inputs in Level 3 valuations (Details) $ in Millions | 12 Months Ended | |
Dec. 31, 2019USD ($)bid_quote | Dec. 31, 2018USD ($)bid_quote | |
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | $ 2,621,427 | $ 2,471,203 |
Financial liabilities | $ 2,409,361 | 2,260,288 |
Percentage of inputs that fall within the core range | 90.00% | |
Level 3 | Recurring fair value measurement | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | $ 16,887 | 16,674 |
Financial liabilities | 7,371 | 7,142 |
Level 3 | Recurring fair value measurement | Private equity including strategic investments | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 4 | |
Level 3 | Recurring fair value measurement | Structured notes | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 5,063 | 5,374 |
Level 3 | Recurring fair value measurement | – equity-linked notes | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 3,768 | |
Level 3 | Recurring fair value measurement | – FX-linked notes | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 1,046 | |
Level 3 | Recurring fair value measurement | – other | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 249 | |
Level 3 | Recurring fair value measurement | Other derivatives | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 2,302 | 1,755 |
Level 3 | Recurring fair value measurement | Other portfolios | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 2 | 1 |
Level 3 | Recurring fair value measurement | – other | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 2 | |
Level 3 | Recurring fair value measurement | Private equity including strategic investments | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 8,009 | 5,553 |
Level 3 | Recurring fair value measurement | Asset-backed securities | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 1,836 | 2,202 |
Level 3 | Recurring fair value measurement | – CLO/CDO | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 373 | |
Level 3 | Recurring fair value measurement | – other ABSs | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 1,463 | |
Level 3 | Recurring fair value measurement | Loans held for securitisation | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 40 | 49 |
Level 3 | Recurring fair value measurement | Structured notes | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 3 | |
Level 3 | Recurring fair value measurement | – other | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 3 | |
Level 3 | Recurring fair value measurement | Derivatives with monolines | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 66 | $ 65 |
Level 3 | Recurring fair value measurement | Other derivatives | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 2,070 | |
Level 3 | Recurring fair value measurement | Other portfolios | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 4,863 | |
Level 3 | Recurring fair value measurement | – structured certificates | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 1,515 | |
Level 3 | Recurring fair value measurement | – repurchase agreements | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 1,604 | |
Level 3 | Recurring fair value measurement | – other | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 1,744 | |
Level 3 | Recurring fair value measurement | Interest rate | securitisation swaps | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 640 | |
Level 3 | Recurring fair value measurement | Interest rate | long-dated swaptions | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 51 | |
Level 3 | Recurring fair value measurement | Interest rate | other | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 155 | |
Level 3 | Recurring fair value measurement | Interest rate | securitisation swaps | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 314 | |
Level 3 | Recurring fair value measurement | Interest rate | long-dated swaptions | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 838 | |
Level 3 | Recurring fair value measurement | Interest rate | other | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 255 | |
Level 3 | Recurring fair value measurement | Foreign exchange | other | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 104 | |
Level 3 | Recurring fair value measurement | Foreign exchange | FX options | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 218 | |
Level 3 | Recurring fair value measurement | Foreign exchange | FX options | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 93 | |
Level 3 | Recurring fair value measurement | Foreign exchange | other | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 119 | |
Level 3 | Recurring fair value measurement | Equities | other | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 712 | |
Level 3 | Recurring fair value measurement | Equities | long-dated single stock options | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 293 | |
Level 3 | Recurring fair value measurement | Equities | other | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 78 | |
Level 3 | Recurring fair value measurement | Equities | long-dated single stock options | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 230 | |
Level 3 | Recurring fair value measurement | Credit | other | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 129 | |
Level 3 | Recurring fair value measurement | Credit | other | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | $ 143 | |
Bottom of range | Recurring fair value measurement | Interest rate | securitisation swaps | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Prepayment rate liabilities | 6.00% | 6.00% |
Bottom of range | Recurring fair value measurement | Interest rate | long-dated swaptions | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
IR volatility liabilities | 8.00% | 13.00% |
Bottom of range | Recurring fair value measurement | Foreign exchange | FX options | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
FX volatility liabilities | 1.00% | 1.00% |
Bottom of range | Recurring fair value measurement | Equities | long-dated single stock options | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Equity volatility liabilities | 0.00% | 5.00% |
Top of range | Recurring fair value measurement | Interest rate | securitisation swaps | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Prepayment rate liabilities | 7.00% | 7.00% |
Top of range | Recurring fair value measurement | Interest rate | long-dated swaptions | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
IR volatility liabilities | 22.00% | 39.00% |
Top of range | Recurring fair value measurement | Foreign exchange | FX options | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
FX volatility liabilities | 25.00% | 27.00% |
Top of range | Recurring fair value measurement | Equities | long-dated single stock options | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Equity volatility liabilities | 89.00% | 83.00% |
Bottom of range | Recurring fair value measurement | Interest rate | securitisation swaps | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Prepayment rate liabilities | 6.00% | 6.00% |
Bottom of range | Recurring fair value measurement | Interest rate | long-dated swaptions | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
IR volatility liabilities | 8.00% | 14.00% |
Bottom of range | Recurring fair value measurement | Foreign exchange | FX options | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
FX volatility liabilities | 5.00% | 7.00% |
Bottom of range | Recurring fair value measurement | Equities | long-dated single stock options | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Equity volatility liabilities | 7.00% | 5.00% |
Top of range | Recurring fair value measurement | Interest rate | securitisation swaps | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Prepayment rate liabilities | 7.00% | 7.00% |
Top of range | Recurring fair value measurement | Interest rate | long-dated swaptions | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
IR volatility liabilities | 21.00% | 36.00% |
Top of range | Recurring fair value measurement | Foreign exchange | FX options | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
FX volatility liabilities | 11.00% | 12.00% |
Top of range | Recurring fair value measurement | Equities | long-dated single stock options | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Equity volatility liabilities | 74.00% | 81.00% |
Market proxy | Bottom of range | Recurring fair value measurement | – CLO/CDO | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Prepayment rate assets | 0.00% | 0.00% |
Bid quotes | bid_quote | 0 | 0 |
Market proxy | Bottom of range | Recurring fair value measurement | – other ABSs | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Bid quotes | bid_quote | 0 | 0 |
Market proxy | Top of range | Recurring fair value measurement | – CLO/CDO | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Prepayment rate assets | 9.00% | 10.00% |
Bid quotes | bid_quote | 100 | 100 |
Market proxy | Top of range | Recurring fair value measurement | – other ABSs | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Bid quotes | bid_quote | 101 | 271 |
Market proxy | Bottom of range | Recurring fair value measurement | – CLO/CDO | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Prepayment rate assets | 0.00% | 0.00% |
Bid quotes | bid_quote | 0 | 50 |
Market proxy | Bottom of range | Recurring fair value measurement | – other ABSs | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Bid quotes | bid_quote | 61 | 71 |
Market proxy | Top of range | Recurring fair value measurement | – CLO/CDO | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Prepayment rate assets | 9.00% | 10.00% |
Bid quotes | bid_quote | 100 | 100 |
Market proxy | Top of range | Recurring fair value measurement | – other ABSs | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Bid quotes | bid_quote | 98 | 99 |
Model – Option model | Bottom of range | Recurring fair value measurement | – equity-linked notes | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Equity volatility liabilities | 5.00% | 8.00% |
Equity correlation | 9.00% | 17.00% |
Model – Option model | Bottom of range | Recurring fair value measurement | – FX-linked notes | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
FX volatility liabilities | 1.00% | 1.00% |
Model – Option model | Bottom of range | Recurring fair value measurement | Interest rate | long-dated swaptions | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
IR volatility assets | 8.00% | 13.00% |
Model – Option model | Bottom of range | Recurring fair value measurement | Foreign exchange | FX options | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
FX volatility assets | 1.00% | 1.00% |
Model – Option model | Bottom of range | Recurring fair value measurement | Equities | long-dated single stock options | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Equity volatility assets | 0.00% | 5.00% |
Model – Option model | Top of range | Recurring fair value measurement | – equity-linked notes | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Equity volatility liabilities | 90.00% | 79.00% |
Equity correlation | 93.00% | 93.00% |
Model – Option model | Top of range | Recurring fair value measurement | – FX-linked notes | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
FX volatility liabilities | 23.00% | 27.00% |
Model – Option model | Top of range | Recurring fair value measurement | Interest rate | long-dated swaptions | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
IR volatility assets | 22.00% | 39.00% |
Model – Option model | Top of range | Recurring fair value measurement | Foreign exchange | FX options | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
FX volatility assets | 25.00% | 27.00% |
Model – Option model | Top of range | Recurring fair value measurement | Equities | long-dated single stock options | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Equity volatility assets | 89.00% | 83.00% |
Model – Option model | Bottom of range | Recurring fair value measurement | – equity-linked notes | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Equity volatility liabilities | 6.00% | 13.00% |
Equity correlation | 9.00% | 40.00% |
Model – Option model | Bottom of range | Recurring fair value measurement | – FX-linked notes | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
FX volatility liabilities | 3.00% | 3.00% |
Model – Option model | Bottom of range | Recurring fair value measurement | Interest rate | long-dated swaptions | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
IR volatility assets | 8.00% | 14.00% |
Model – Option model | Bottom of range | Recurring fair value measurement | Foreign exchange | FX options | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
FX volatility assets | 5.00% | 7.00% |
Model – Option model | Bottom of range | Recurring fair value measurement | Equities | long-dated single stock options | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Equity volatility assets | 7.00% | 5.00% |
Model – Option model | Top of range | Recurring fair value measurement | – equity-linked notes | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Equity volatility liabilities | 56.00% | 53.00% |
Equity correlation | 93.00% | 77.00% |
Model – Option model | Top of range | Recurring fair value measurement | – FX-linked notes | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
FX volatility liabilities | 22.00% | 25.00% |
Model – Option model | Top of range | Recurring fair value measurement | Interest rate | long-dated swaptions | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
IR volatility assets | 21.00% | 36.00% |
Model – Option model | Top of range | Recurring fair value measurement | Foreign exchange | FX options | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
FX volatility assets | 11.00% | 12.00% |
Model – Option model | Top of range | Recurring fair value measurement | Equities | long-dated single stock options | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Equity volatility assets | 74.00% | 81.00% |
Model – Discounted cash flow | Bottom of range | Recurring fair value measurement | Derivatives with monolines | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Credit spread | 0.40% | 0.20% |
Model – Discounted cash flow | Bottom of range | Recurring fair value measurement | – structured certificates | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Credit volatility | 4.00% | 2.00% |
Model – Discounted cash flow | Bottom of range | Recurring fair value measurement | Interest rate | securitisation swaps | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Prepayment rate assets | 6.00% | 6.00% |
Model – Discounted cash flow | Top of range | Recurring fair value measurement | Derivatives with monolines | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Credit spread | 2.00% | 1.00% |
Model – Discounted cash flow | Top of range | Recurring fair value measurement | – structured certificates | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Credit volatility | 4.00% | 4.00% |
Model – Discounted cash flow | Top of range | Recurring fair value measurement | Interest rate | securitisation swaps | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Prepayment rate assets | 7.00% | 7.00% |
Model – Discounted cash flow | Bottom of range | Recurring fair value measurement | Derivatives with monolines | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Credit spread | 0.40% | 0.20% |
Model – Discounted cash flow | Bottom of range | Recurring fair value measurement | – structured certificates | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Credit volatility | 4.00% | 2.00% |
Model – Discounted cash flow | Bottom of range | Recurring fair value measurement | Interest rate | securitisation swaps | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Prepayment rate assets | 6.00% | 6.00% |
Model – Discounted cash flow | Top of range | Recurring fair value measurement | Derivatives with monolines | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Credit spread | 2.00% | 1.00% |
Model – Discounted cash flow | Top of range | Recurring fair value measurement | – structured certificates | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Credit volatility | 4.00% | 4.00% |
Model – Discounted cash flow | Top of range | Recurring fair value measurement | Interest rate | securitisation swaps | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Prepayment rate assets | 7.00% | 7.00% |
Fair values of financial ins_12
Fair values of financial instruments carried at fair value - Basis of valuing HSBC Holding's financial assets and liabilities measured at fair value (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | $ 2,621,427,000,000 | $ 2,471,203,000,000 |
Financial liabilities | 2,409,361,000,000 | 2,260,288,000,000 |
Financial liabilities designated at fair value | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 164,466,000,000 | 148,505,000,000 |
Financial investments | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 357,577,000,000 | 344,767,000,000 |
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 2,345,000,000 | 2,349,000,000 |
HSBC Holdings | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 93,215,000,000 | 83,933,000,000 |
Financial liabilities | 109,870,000,000 | 97,614,000,000 |
HSBC Holdings | Level 2 | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Reclassification of financial assets out of measured at amortised cost into measured at fair value through profit or loss | 33,300,000,000 | |
Reclassification into financial assets at fair value through profit or loss | 33,300,000,000 | 0 |
HSBC Holdings | Financial liabilities designated at fair value | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 30,303,000,000 | 25,049,000,000 |
HSBC Holdings | Financial liabilities designated at fair value | Level 2 | Designated at fair value | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 30,303,000,000 | 25,049,000,000 |
HSBC Holdings | Derivatives | Level 2 | Designated at fair value | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 2,021,000,000 | 2,159,000,000 |
HSBC Holdings | Derivatives | Level 2 | Designated at fair value | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 2,002,000,000 | 707,000,000 |
HSBC Holdings | Financial investments | Level 2 | Designated at fair value | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 0 | 0 |
HSBC Holdings | Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Level 2 | Designated at fair value | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | $ 61,964,000,000 | $ 23,513,000,000 |
Fair values of financial ins_13
Fair values of financial instruments not carried at fair value - Fair value of financial instruments not carried at fair value and bases of valuation (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | $ 2,621,427 | $ 2,471,203 |
Financial liabilities | 2,409,361 | 2,260,288 |
Deposits by banks | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 59,022 | 56,331 |
Customer accounts | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 1,439,115 | 1,362,643 |
Repurchase agreements – non-trading | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 140,344 | 165,884 |
Financial investments – at amortised cost | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 236,323 | 196,093 |
Subordinated liabilities | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 35,149 | 37,130 |
Loans and advances to banks | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 69,203 | 72,167 |
Loans and advances to customers | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 1,036,743 | 981,696 |
Repurchase agreements – non-trading | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 240,862 | 242,804 |
Financial investments – at amortised cost | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 85,735 | 62,666 |
Fair value | Deposits by banks | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 58,951 | 56,308 |
Fair value | Customer accounts | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 1,439,512 | 1,362,945 |
Fair value | Repurchase agreements – non-trading | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 140,344 | 165,884 |
Fair value | Loans and advances to banks | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 69,247 | 72,169 |
Fair value | Loans and advances to customers | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 1,037,543 | 985,077 |
Fair value | Repurchase agreements – non-trading | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 240,906 | 242,857 |
Fair value | Financial investments – at amortised cost | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 89,061 | 62,079 |
Fair value | Level 1 | Deposits by banks | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 0 | 0 |
Fair value | Level 1 | Customer accounts | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 0 | 0 |
Fair value | Level 1 | Repurchase agreements – non-trading | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 0 | 0 |
Fair value | Level 1 | Loans and advances to banks | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 0 | 0 |
Fair value | Level 1 | Loans and advances to customers | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 0 | 0 |
Fair value | Level 1 | Repurchase agreements – non-trading | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 16 | 81 |
Fair value | Level 1 | Financial investments – at amortised cost | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 26,202 | 1,790 |
Fair value | Level 2 | Deposits by banks | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 58,951 | 56,308 |
Fair value | Level 2 | Customer accounts | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 1,439,362 | 1,362,794 |
Fair value | Level 2 | Repurchase agreements – non-trading | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 140,344 | 165,884 |
Fair value | Level 2 | Loans and advances to banks | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 68,508 | 68,378 |
Fair value | Level 2 | Loans and advances to customers | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 10,365 | 10,518 |
Fair value | Level 2 | Repurchase agreements – non-trading | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 240,199 | 241,407 |
Fair value | Level 2 | Financial investments – at amortised cost | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 62,572 | 60,073 |
Fair value | Level 3 | Deposits by banks | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 0 | 0 |
Fair value | Level 3 | Customer accounts | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 150 | 151 |
Fair value | Level 3 | Repurchase agreements – non-trading | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 0 | 0 |
Fair value | Level 3 | Loans and advances to banks | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 739 | 3,791 |
Fair value | Level 3 | Loans and advances to customers | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 1,027,178 | 974,559 |
Fair value | Level 3 | Repurchase agreements – non-trading | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 691 | 1,369 |
Fair value | Level 3 | Financial investments – at amortised cost | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 287 | 216 |
At cost | Financial investments – at amortised cost | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 104,555 | 85,342 |
At cost | Subordinated liabilities | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 24,600 | 22,437 |
At cost | Fair value | Financial investments – at amortised cost | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 104,936 | 85,430 |
At cost | Fair value | Subordinated liabilities | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 29,246 | 25,341 |
At cost | Fair value | Level 1 | Financial investments – at amortised cost | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 0 | 0 |
At cost | Fair value | Level 1 | Subordinated liabilities | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 0 | 0 |
At cost | Fair value | Level 2 | Financial investments – at amortised cost | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 104,936 | 85,430 |
At cost | Fair value | Level 2 | Subordinated liabilities | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 28,861 | 24,968 |
At cost | Fair value | Level 3 | Financial investments – at amortised cost | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 0 | 0 |
At cost | Fair value | Level 3 | Subordinated liabilities | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | $ 385 | $ 373 |
Fair values of financial ins_14
Fair values of financial instruments not carried at fair value - Fair values of HSBC Holdings' financial instruments not carried at fair value on the balance sheet (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | $ 2,621,427,000,000 | $ 2,471,203,000,000 |
Financial liabilities | 2,409,361,000,000 | 2,260,288,000,000 |
Amounts owed to HSBC undertakings | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 59,022,000,000 | 56,331,000,000 |
Financial investments – at amortised cost | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 236,323,000,000 | 196,093,000,000 |
Loans and advances to banks | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 69,203,000,000 | 72,167,000,000 |
Financial investments – at amortised cost | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 85,735,000,000 | 62,666,000,000 |
Fair value | Amounts owed to HSBC undertakings | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 58,951,000,000 | 56,308,000,000 |
Fair value | Loans and advances to banks | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 69,247,000,000 | 72,169,000,000 |
Fair value | Financial investments – at amortised cost | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 89,061,000,000 | 62,079,000,000 |
HSBC Holdings | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 93,215,000,000 | 83,933,000,000 |
Financial liabilities | 109,870,000,000 | 97,614,000,000 |
HSBC Holdings | Amounts owed to HSBC undertakings | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 464,000,000 | 949,000,000 |
HSBC Holdings | Financial investments – at amortised cost | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 81,531,000,000 | 68,567,000,000 |
HSBC Holdings | Subordinated liabilities | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 23,977,000,000 | 24,997,000,000 |
HSBC Holdings | Loans and advances to banks | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 10,218,000,000 | 56,144,000,000 |
HSBC Holdings | Financial investments – at amortised cost | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 16,106,000,000 | |
HSBC Holdings | Highly liquid securities | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 16,100,000,000 | 0 |
HSBC Holdings | Fair value | Amounts owed to HSBC undertakings | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 464,000,000 | 949,000,000 |
HSBC Holdings | Fair value | Loans and advances to banks | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 10,504,000,000 | 56,801,000,000 |
HSBC Holdings | Fair value | Financial investments – at amortised cost | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 16,121,000,000 | |
At cost | Financial investments – at amortised cost | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 104,555,000,000 | 85,342,000,000 |
At cost | Subordinated liabilities | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 22,775,000,000 | 20,651,000,000 |
At cost | Fair value | Financial investments – at amortised cost | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 104,936,000,000 | 85,430,000,000 |
At cost | HSBC Holdings | Financial investments – at amortised cost | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 56,844,000,000 | 50,800,000,000 |
At cost | HSBC Holdings | Subordinated liabilities | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 18,361,000,000 | 17,715,000,000 |
At cost | HSBC Holdings | Fair value | Financial investments – at amortised cost | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 59,140,000,000 | 51,552,000,000 |
At cost | HSBC Holdings | Fair value | Subordinated liabilities | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | $ 22,536,000,000 | $ 20,224,000,000 |
Financial assets designated a_3
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss - Summary (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of financial assets [line items] | ||
Financial assets | $ 2,621,427 | $ 2,471,203 |
Financial assets at fair value through profit or loss | ||
Disclosure of financial assets [line items] | ||
Financial assets | 43,627 | 41,111 |
Designated at fair value | ||
Disclosure of financial assets [line items] | ||
Financial assets | 2,345 | 2,349 |
Mandatorily measured at fair value | ||
Disclosure of financial assets [line items] | ||
Financial assets | 41,282 | 38,762 |
Securities | Financial assets at fair value through profit or loss | ||
Disclosure of financial assets [line items] | ||
Financial assets | 38,152 | 32,566 |
Securities | Designated at fair value | ||
Disclosure of financial assets [line items] | ||
Financial assets | 2,344 | 2,349 |
Securities | Mandatorily measured at fair value | ||
Disclosure of financial assets [line items] | ||
Financial assets | 35,808 | 30,217 |
Treasury and other eligible bills | Financial assets at fair value through profit or loss | ||
Disclosure of financial assets [line items] | ||
Financial assets | 661 | 670 |
Treasury and other eligible bills | Designated at fair value | ||
Disclosure of financial assets [line items] | ||
Financial assets | 630 | 641 |
Treasury and other eligible bills | Mandatorily measured at fair value | ||
Disclosure of financial assets [line items] | ||
Financial assets | 31 | 29 |
Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 85,735 | 62,666 |
Debt securities | Financial assets at fair value through profit or loss | ||
Disclosure of financial assets [line items] | ||
Financial assets | 6,552 | 6,547 |
Debt securities | Designated at fair value | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,714 | 1,708 |
Debt securities | Mandatorily measured at fair value | ||
Disclosure of financial assets [line items] | ||
Financial assets | 4,838 | 4,839 |
Equity securities | Financial assets at fair value through profit or loss | ||
Disclosure of financial assets [line items] | ||
Financial assets | 30,939 | 25,349 |
Equity securities | Designated at fair value | ||
Disclosure of financial assets [line items] | ||
Financial assets | 0 | 0 |
Equity securities | Mandatorily measured at fair value | ||
Disclosure of financial assets [line items] | ||
Financial assets | 30,939 | 25,349 |
Loans and advances to banks and customers | Financial assets at fair value through profit or loss | ||
Disclosure of financial assets [line items] | ||
Financial assets | 4,556 | 7,717 |
Loans and advances to banks and customers | Designated at fair value | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1 | 0 |
Loans and advances to banks and customers | Mandatorily measured at fair value | ||
Disclosure of financial assets [line items] | ||
Financial assets | 4,555 | 7,717 |
Other | Financial assets at fair value through profit or loss | ||
Disclosure of financial assets [line items] | ||
Financial assets | 919 | 828 |
Other | Designated at fair value | ||
Disclosure of financial assets [line items] | ||
Financial assets | 0 | 0 |
Other | Mandatorily measured at fair value | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 919 | $ 828 |
Financial assets designated a_4
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss - Securities (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of financial assets [line items] | ||
Financial assets | $ 2,621,427,000,000 | $ 2,471,203,000,000 |
Financial assets at fair value through profit or loss | ||
Disclosure of financial assets [line items] | ||
Financial assets | 43,627,000,000 | 41,111,000,000 |
Designated at fair value | ||
Disclosure of financial assets [line items] | ||
Financial assets | 2,345,000,000 | 2,349,000,000 |
Mandatorily measured at fair value | ||
Disclosure of financial assets [line items] | ||
Financial assets | 41,282,000,000 | 38,762,000,000 |
Securities | Financial assets at fair value through profit or loss | ||
Disclosure of financial assets [line items] | ||
Financial assets | 38,152,000,000 | 32,566,000,000 |
Securities | Designated at fair value | ||
Disclosure of financial assets [line items] | ||
Financial assets | 2,344,000,000 | 2,349,000,000 |
Securities | Mandatorily measured at fair value | ||
Disclosure of financial assets [line items] | ||
Financial assets | 35,808,000,000 | 30,217,000,000 |
Hong Kong Government | Financial assets at fair value through profit or loss | ||
Disclosure of financial assets [line items] | ||
Financial assets | 4,000,000 | 4,000,000 |
Hong Kong Government | Designated at fair value | ||
Disclosure of financial assets [line items] | ||
Financial assets | 4,000,000 | 4,000,000 |
Hong Kong Government | Mandatorily measured at fair value | ||
Disclosure of financial assets [line items] | ||
Financial assets | 0 | 0 |
Other governments | Financial assets at fair value through profit or loss | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,420,000,000 | 1,386,000,000 |
Other governments | Designated at fair value | ||
Disclosure of financial assets [line items] | ||
Financial assets | 666,000,000 | 673,000,000 |
Other governments | Mandatorily measured at fair value | ||
Disclosure of financial assets [line items] | ||
Financial assets | 754,000,000 | 713,000,000 |
Asset-backed securities | Financial assets at fair value through profit or loss | ||
Disclosure of financial assets [line items] | ||
Financial assets | 363,000,000 | 399,000,000 |
Asset-backed securities | Designated at fair value | ||
Disclosure of financial assets [line items] | ||
Financial assets | 0 | 0 |
Asset-backed securities | Mandatorily measured at fair value | ||
Disclosure of financial assets [line items] | ||
Financial assets | 363,000,000 | 399,000,000 |
Corporate debt and other securities | Financial assets at fair value through profit or loss | ||
Disclosure of financial assets [line items] | ||
Financial assets | 5,426,000,000 | 5,428,000,000 |
Corporate debt and other securities | Designated at fair value | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,674,000,000 | 1,672,000,000 |
Corporate debt and other securities | Mandatorily measured at fair value | ||
Disclosure of financial assets [line items] | ||
Financial assets | 3,752,000,000 | 3,756,000,000 |
Equities | Financial assets at fair value through profit or loss | ||
Disclosure of financial assets [line items] | ||
Financial assets | 30,939,000,000 | 25,349,000,000 |
Equities | Designated at fair value | ||
Disclosure of financial assets [line items] | ||
Financial assets | 0 | 0 |
Equities | Mandatorily measured at fair value | ||
Disclosure of financial assets [line items] | ||
Financial assets | 30,939,000,000 | 25,349,000,000 |
Debt securities issued by banks and other financial institutions | Financial assets at fair value through profit or loss | ||
Disclosure of financial assets [line items] | ||
Financial assets | 366,000,000 | 676,000,000 |
Debt securities issued by banks and other financial institutions, guaranteed by governments | Financial assets at fair value through profit or loss | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 0 | $ 0 |
Derivatives - Notional contract
Derivatives - Notional contract amounts and fair value of derivatives by product contract type held by HSBC (Details) number in Millions, $ in Millions | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) |
Disclosure of detailed information about hedging instruments [line items] | ||
Notional contract amount of trading instruments | $ 27,619,214 | $ 33,819,683 |
Nominal contract amount of hedging instruments | 208,905 | 193,240 |
Fair value of trading assets | $ 283,071 | $ 255,998 |
Fair value of hedging assets | 1,663 | 1,538 |
Gross total fair values of derivative assets | 284,734 | 257,536 |
Fair value of derivative assets | 242,995 | 207,825 |
Fair value of trading liabilities | 278,465 | 252,632 |
Fair value of hedging liabilities | 2,771 | 2,914 |
Gross total fair values of derivative liabilities | 281,236 | 255,546 |
Fair value of derivative liabilities | 239,497 | 205,835 |
Derivatives | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Amounts offset on derivative liabilities | (41,739) | (49,711) |
Derivatives | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Amounts offset on derivative assets | (41,739) | (49,711) |
Foreign exchange | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional contract amount of trading instruments | $ 8,207,629 | $ 7,552,462 |
Nominal contract amount of hedging instruments | 31,899 | 29,969 |
Fair value of trading assets | $ 84,083 | $ 85,959 |
Fair value of hedging assets | 455 | 458 |
Gross total fair values of derivative assets | 84,538 | 86,417 |
Fair value of trading liabilities | 84,498 | 82,494 |
Fair value of hedging liabilities | 740 | 653 |
Gross total fair values of derivative liabilities | 85,238 | 83,147 |
Interest rate | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional contract amount of trading instruments | $ 17,895,349 | $ 24,589,916 |
Nominal contract amount of hedging instruments | 177,006 | 163,271 |
Fair value of trading assets | $ 183,668 | $ 155,293 |
Fair value of hedging assets | 1,208 | 1,080 |
Gross total fair values of derivative assets | 184,876 | 156,373 |
Fair value of trading liabilities | 175,095 | 154,257 |
Fair value of hedging liabilities | 2,031 | 2,261 |
Gross total fair values of derivative liabilities | 177,126 | 156,518 |
Equities | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional contract amount of trading instruments | $ 1,077,347 | $ 1,256,550 |
Nominal contract amount of hedging instruments | 0 | 0 |
Fair value of trading assets | $ 9,053 | $ 10,198 |
Fair value of hedging assets | 0 | 0 |
Gross total fair values of derivative assets | 9,053 | 10,198 |
Fair value of trading liabilities | 11,237 | 10,750 |
Fair value of hedging liabilities | 0 | 0 |
Gross total fair values of derivative liabilities | 11,237 | 10,750 |
Credit | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional contract amount of trading instruments | $ 345,644 | $ 346,596 |
Nominal contract amount of hedging instruments | 0 | 0 |
Fair value of trading assets | $ 4,744 | $ 3,414 |
Fair value of hedging assets | 0 | 0 |
Gross total fair values of derivative assets | 4,744 | 3,414 |
Fair value of trading liabilities | 5,597 | 3,776 |
Fair value of hedging liabilities | 0 | 0 |
Gross total fair values of derivative liabilities | 5,597 | 3,776 |
Commodity and other | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional contract amount of trading instruments | $ 93,245 | $ 74,159 |
Nominal contract amount of hedging instruments | 0 | 0 |
Fair value of trading assets | $ 1,523 | $ 1,134 |
Fair value of hedging assets | 0 | 0 |
Gross total fair values of derivative assets | 1,523 | 1,134 |
Fair value of trading liabilities | 2,038 | 1,355 |
Fair value of hedging liabilities | 0 | 0 |
Gross total fair values of derivative liabilities | $ 2,038 | $ 1,355 |
Derivatives - Notional contra_2
Derivatives - Notional contract amounts and fair values of derivatives by product contract type held by HSBC Holdings with subsidiaries (Details) number in Millions, $ in Millions | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) |
Disclosure of detailed information about hedging instruments [line items] | ||
Notional contract amount of trading instruments | $ 27,619,214 | $ 33,819,683 |
Nominal contract amount of hedging instruments | 208,905 | 193,240 |
Fair value of trading assets | $ 283,071 | $ 255,998 |
Fair value of hedging assets | 1,663 | 1,538 |
Fair value of derivative assets | 242,995 | 207,825 |
Fair value of trading liabilities | 278,465 | 252,632 |
Fair value of hedging liabilities | 2,771 | 2,914 |
Fair value of derivative liabilities | 239,497 | 205,835 |
Foreign exchange | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional contract amount of trading instruments | $ 8,207,629 | $ 7,552,462 |
Nominal contract amount of hedging instruments | 31,899 | 29,969 |
Fair value of trading assets | $ 84,083 | $ 85,959 |
Fair value of hedging assets | 455 | 458 |
Fair value of trading liabilities | 84,498 | 82,494 |
Fair value of hedging liabilities | 740 | 653 |
Interest rate | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional contract amount of trading instruments | $ 17,895,349 | $ 24,589,916 |
Nominal contract amount of hedging instruments | 177,006 | 163,271 |
Fair value of trading assets | $ 183,668 | $ 155,293 |
Fair value of hedging assets | 1,208 | 1,080 |
Fair value of trading liabilities | 175,095 | 154,257 |
Fair value of hedging liabilities | $ 2,031 | 2,261 |
HSBC Holdings | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Nominal contract amount of hedging instruments | 36,769 | |
Fair value of derivative assets | $ 2,002 | 707 |
Fair value of derivative liabilities | $ 2,021 | $ 2,159 |
Fair value hedges | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Nominal contract amount of hedging instruments | 122,753 | 123,551 |
Fair value of hedging assets | $ 1,056 | $ 915 |
Fair value of hedging liabilities | $ 2,208 | 2,123 |
Fair value hedges | Interest rate | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Nominal contract amount of hedging instruments | 122,753 | |
Fair value hedges | HSBC Holdings | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional contract amount of trading instruments | $ 73,917 | $ 60,682 |
Nominal contract amount of hedging instruments | 36,769 | 39,538 |
Fair value of trading assets | $ 596 | $ 490 |
Fair value of hedging assets | 1,406 | 217 |
Fair value of derivative assets | 2,002 | 707 |
Fair value of trading liabilities | 1,838 | 1,166 |
Fair value of hedging liabilities | 183 | 993 |
Fair value of derivative liabilities | 2,021 | 2,159 |
Fair value hedges | HSBC Holdings | Foreign exchange | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional contract amount of trading instruments | $ 24,980 | $ 16,623 |
Nominal contract amount of hedging instruments | 0 | 1,120 |
Fair value of trading assets | $ 161 | $ 207 |
Fair value of hedging assets | 0 | 0 |
Fair value of derivative assets | 161 | 207 |
Fair value of trading liabilities | 766 | 628 |
Fair value of hedging liabilities | 0 | 155 |
Fair value of derivative liabilities | 766 | 783 |
Fair value hedges | HSBC Holdings | Interest rate | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional contract amount of trading instruments | $ 48,937 | $ 44,059 |
Nominal contract amount of hedging instruments | 36,769 | 38,418 |
Fair value of trading assets | $ 435 | $ 283 |
Fair value of hedging assets | 1,406 | 217 |
Fair value of derivative assets | 1,841 | 500 |
Fair value of trading liabilities | 1,072 | 538 |
Fair value of hedging liabilities | 183 | 838 |
Fair value of derivative liabilities | $ 1,255 | $ 1,376 |
Derivatives - Unamortised balan
Derivatives - Unamortised balance of derivatives valued using models with significant unobservable inputs (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Reconciliation of aggregate difference between fair value at initial recognition and transaction price yet to be recognised in profit or loss [abstract] | ||
Unamortised balance at beginning of period | $ 86 | $ 106 |
Deferral on new transactions | 145 | 161 |
Recognised in the income statement during the year: | (154) | (158) |
– amortisation | (80) | (96) |
– subsequent to unobservable inputs becoming observable | (3) | (2) |
– maturity, termination or offsetting derivative | (71) | (60) |
Exchange differences | 1 | (4) |
Other increases | (5) | |
Other decreases | (19) | |
Unamortised balance at end of period | $ 73 | $ 86 |
Derivatives - Fair value hedges
Derivatives - Fair value hedges - Hedging instrument by hedged risk (Details) $ in Millions | 12 Months Ended | |
Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | |
Disclosure of detailed information about hedging instruments [line items] | ||
Notional amount | 208,905,000,000 | 193,240,000,000 |
Carrying amount, assets | $ 1,663 | $ 1,538 |
Carrying amount, liabilities | $ 2,771 | $ 2,914 |
Fair value hedges | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional amount | 122,753,000,000 | 123,551,000,000 |
Carrying amount, assets | $ 1,056 | $ 915 |
Carrying amount, liabilities | 2,208 | 2,123 |
Change in fair value | $ (1,531) | $ 283 |
Interest rate | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional amount | 177,006,000,000 | 163,271,000,000 |
Carrying amount, assets | $ 1,208 | $ 1,080 |
Carrying amount, liabilities | $ 2,031 | $ 2,261 |
Interest rate | Fair value hedges | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional amount | 122,753,000,000 | |
HSBC Holdings | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional amount | 36,769,000,000 | |
HSBC Holdings | Fair value hedges | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional amount | 36,769,000,000 | 39,538,000,000 |
Carrying amount, assets | $ 1,406 | $ 217 |
Carrying amount, liabilities | 183 | $ 993 |
Change in fair value | $ 1,704 | |
Weighted average rate of hedging instrument | 1.53% | |
HSBC Holdings | Interest rate | Fair value hedges | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional amount | 36,769,000,000 | 38,418,000,000 |
Carrying amount, assets | $ 1,406 | $ 217 |
Carrying amount, liabilities | $ 183 | $ 838 |
Derivatives | Interest rate | Fair value hedges | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional amount | 122,753,000,000 | 123,551,000,000 |
Carrying amount, assets | $ 1,056 | $ 915 |
Carrying amount, liabilities | 2,208 | 2,123 |
Change in fair value | $ (1,531) | $ 283 |
Derivatives | HSBC Holdings | Interest rate | Fair value hedges | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional amount | 36,769,000,000 | |
Carrying amount, assets | $ 1,406 | |
Carrying amount, liabilities | 183 | |
Change in fair value | $ 1,704 |
Derivatives - Fair value hedg_2
Derivatives - Fair value hedges - Hedged item by hedged risk (Details) - Interest rate - Fair value hedges - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of detailed information about hedged items [line items] | ||
Carrying amount, assets | $ 92,667 | $ 94,924 |
Carrying amount, liabilities | 18,215 | 18,951 |
Accumulated fair value hedge adjustments included in carrying amount, assets | 1,875 | 225 |
Accumulated fair value hedge adjustments included in carrying amount, liabilities | 836 | (110) |
Change in fair value | 1,524 | (320) |
Gain (loss) on hedge ineffectiveness recognised in profit or loss | (7) | (37) |
Financial assets designated and otherwise mandatorily measured at fair value through other comprehensive income | ||
Disclosure of detailed information about hedged items [line items] | ||
Carrying amount, assets | 90,617 | 93,469 |
Accumulated fair value hedge adjustments included in carrying amount, assets | 1,859 | 231 |
Change in fair value | 2,304 | (425) |
Accumulated fair value hedge adjustment remaining in statement of financial position for hedged item that ceased to be adjusted for hedging gains and losses, assets | 482 | |
Loans and advances to banks | ||
Disclosure of detailed information about hedged items [line items] | ||
Carrying amount, assets | 153 | |
Accumulated fair value hedge adjustments included in carrying amount, assets | 4 | |
Change in fair value | 5 | |
Loans and advances to customers | ||
Disclosure of detailed information about hedged items [line items] | ||
Carrying amount, assets | 1,897 | 1,455 |
Accumulated fair value hedge adjustments included in carrying amount, assets | 12 | (6) |
Change in fair value | 24 | (4) |
Debt securities in issue | ||
Disclosure of detailed information about hedged items [line items] | ||
Carrying amount, liabilities | 15,206 | 14,171 |
Accumulated fair value hedge adjustments included in carrying amount, liabilities | 797 | (155) |
Change in fair value | (1,011) | 124 |
Accumulated fair value hedge adjustment remaining in statement of financial position for hedged item that ceased to be adjusted for hedging gains and losses, liabilities | 2 | |
Deposits by banks | ||
Disclosure of detailed information about hedged items [line items] | ||
Carrying amount, liabilities | 3,009 | 4,780 |
Accumulated fair value hedge adjustments included in carrying amount, liabilities | 39 | 45 |
Change in fair value | 202 | $ (15) |
HSBC Holdings | ||
Disclosure of detailed information about hedged items [line items] | ||
Carrying amount, assets | 0 | |
Carrying amount, liabilities | 38,126 | |
Accumulated fair value hedge adjustments included in carrying amount, assets | 0 | |
Accumulated fair value hedge adjustments included in carrying amount, liabilities | 1,088 | |
Change in fair value | (1,697) | |
Gain (loss) on hedge ineffectiveness recognised in profit or loss | 7 | |
HSBC Holdings | Debt securities in issue | ||
Disclosure of detailed information about hedged items [line items] | ||
Carrying amount, liabilities | 38,126 | |
Accumulated fair value hedge adjustments included in carrying amount, liabilities | 1,088 | |
Change in fair value | (1,697) | |
Accumulated fair value hedge adjustment remaining in statement of financial position for hedged item that ceased to be adjusted for hedging gains and losses, liabilities | $ 71 |
Derivatives - Cash flow hedges
Derivatives - Cash flow hedges - Hedging instrument by hedged risk (Details) number in Millions, $ in Millions | 12 Months Ended | |
Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | |
Disclosure of detailed information about hedging instruments [line items] | ||
Notional amount | 208,905 | 193,240 |
Carrying amount, assets | $ 1,663 | $ 1,538 |
Carrying amount, liabilities | $ 2,771 | $ 2,914 |
Cash flow hedges | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional amount | 75,638 | 64,674 |
Carrying amount, assets | $ 607 | $ 460 |
Carrying amount, liabilities | 300 | 791 |
Change in fair value of hedging instrument | 536 | (275) |
Change in fair value of hedged item | 534 | (267) |
Gain (loss) on hedge ineffectiveness recognised in profit or loss | $ 2 | $ (8) |
Foreign currency | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional amount | 31,899 | 29,969 |
Carrying amount, assets | $ 455 | $ 458 |
Carrying amount, liabilities | $ 740 | $ 653 |
Interest rate | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional amount | 177,006 | 163,271 |
Carrying amount, assets | $ 1,208 | $ 1,080 |
Carrying amount, liabilities | $ 2,031 | $ 2,261 |
Interest rate | Cash flow hedges | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional amount | 54,253 | |
Derivatives | Foreign currency | Cash flow hedges | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional amount | 21,385 | 24,954 |
Carrying amount, assets | $ 455 | $ 295 |
Carrying amount, liabilities | 254 | 653 |
Change in fair value of hedging instrument | 341 | (198) |
Change in fair value of hedged item | 341 | (200) |
Gain (loss) on hedge ineffectiveness recognised in profit or loss | $ 0 | $ 2 |
Derivatives | Interest rate | Cash flow hedges | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional amount | 54,253 | 39,720 |
Carrying amount, assets | $ 152 | $ 165 |
Carrying amount, liabilities | 46 | 138 |
Change in fair value of hedging instrument | 195 | (77) |
Change in fair value of hedged item | 193 | (67) |
Gain (loss) on hedge ineffectiveness recognised in profit or loss | $ 2 | $ (10) |
Derivatives - Cash flow hedge_2
Derivatives - Cash flow hedges - Reconciliation of equity and analysis of other comprehensive income by risk type (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Changes in reserve of cash flow hedges, continuing hedges [Roll Forward] | |||
– fair value gains/(losses) | $ 551 | $ (267) | $ (1,046) |
Fair value (gains)/losses reclassified from the cash flow hedge reserve to the income statement in respect of: | |||
Income taxes | (59) | (31) | 21 |
Interest rate | Cash flow hedges | |||
Changes in reserve of cash flow hedges, continuing hedges [Roll Forward] | |||
Cash flow hedging reserve, beginning balance | (26) | (40) | |
– fair value gains/(losses) | 193 | (67) | |
Fair value (gains)/losses reclassified from the cash flow hedge reserve to the income statement in respect of: | |||
Hedged items that have affected profit or loss | 99 | 90 | |
Income taxes | (53) | (11) | |
Others | (9) | 2 | |
Cash flow hedging reserve, ending balance | 204 | (26) | (40) |
Foreign currency | Cash flow hedges | |||
Changes in reserve of cash flow hedges, continuing hedges [Roll Forward] | |||
Cash flow hedging reserve, beginning balance | (182) | (187) | |
– fair value gains/(losses) | 341 | (200) | |
Fair value (gains)/losses reclassified from the cash flow hedge reserve to the income statement in respect of: | |||
Hedged items that have affected profit or loss | (371) | 227 | |
Income taxes | 4 | (13) | |
Others | 3 | (9) | |
Cash flow hedging reserve, ending balance | $ (205) | $ (182) | $ (187) |
Derivatives - Cash flow hedge_3
Derivatives - Cash flow hedges - Hedging instruments impacted by Ibor reform (Details) $ in Millions | Oct. 02, 2019 | Dec. 31, 2018USD ($) | Dec. 31, 2019USD ($) |
Disclosure of initial application of standards or interpretations [line items] | |||
Hedging instrument, assets | $ 1,538 | $ 1,663 | |
Hedging instrument, liabilities | $ 2,914 | $ 2,771 | |
Notional amount | 193,240,000,000 | 208,905,000,000 | |
Gains (losses) on ineffectiveness of hedges of net investments in foreign operations recognised in profit or loss | $ 0 | ||
Eonia, adjustment to interest rate basis | 0.085% | ||
Fair value hedges | |||
Disclosure of initial application of standards or interpretations [line items] | |||
Hedging instrument, assets | 915 | $ 1,056 | |
Hedging instrument, liabilities | $ 2,123 | $ 2,208 | |
Notional amount | 123,551,000,000 | 122,753,000,000 | |
Cash flow hedges | |||
Disclosure of initial application of standards or interpretations [line items] | |||
Hedging instrument, assets | $ 460 | $ 607 | |
Hedging instrument, liabilities | $ 791 | $ 300 | |
Notional amount | 64,674,000,000 | 75,638,000,000 | |
HSBC Holdings | |||
Disclosure of initial application of standards or interpretations [line items] | |||
Notional amount | 36,769,000,000 | ||
HSBC Holdings | Impacted by Ibor reform | |||
Disclosure of initial application of standards or interpretations [line items] | |||
Notional amount | 36,769,000,000 | ||
HSBC Holdings | Impacted by Ibor reform | € | |||
Disclosure of initial application of standards or interpretations [line items] | |||
Notional amount | 3,928,000,000 | ||
HSBC Holdings | Impacted by Ibor reform | £ | |||
Disclosure of initial application of standards or interpretations [line items] | |||
Notional amount | 5,222,000,000 | ||
HSBC Holdings | Impacted by Ibor reform | $ | |||
Disclosure of initial application of standards or interpretations [line items] | |||
Notional amount | 24,500,000,000 | ||
HSBC Holdings | Impacted by Ibor reform | Other | |||
Disclosure of initial application of standards or interpretations [line items] | |||
Notional amount | 3,119,000,000 | ||
HSBC Holdings | Not impacted by Ibor reform | |||
Disclosure of initial application of standards or interpretations [line items] | |||
Notional amount | 0 | ||
HSBC Holdings | Fair value hedges | |||
Disclosure of initial application of standards or interpretations [line items] | |||
Hedging instrument, assets | $ 217 | $ 1,406 | |
Hedging instrument, liabilities | $ 993 | $ 183 | |
Notional amount | 39,538,000,000 | 36,769,000,000 | |
HSBC Holdings | Fair value hedges | Impacted by Ibor reform | |||
Disclosure of initial application of standards or interpretations [line items] | |||
Notional amount | 36,769,000,000 | ||
HSBC Holdings | Fair value hedges | Impacted by Ibor reform | € | |||
Disclosure of initial application of standards or interpretations [line items] | |||
Notional amount | 3,928,000,000 | ||
HSBC Holdings | Fair value hedges | Impacted by Ibor reform | £ | |||
Disclosure of initial application of standards or interpretations [line items] | |||
Notional amount | 5,222,000,000 | ||
HSBC Holdings | Fair value hedges | Impacted by Ibor reform | $ | |||
Disclosure of initial application of standards or interpretations [line items] | |||
Notional amount | 24,500,000,000 | ||
HSBC Holdings | Fair value hedges | Impacted by Ibor reform | Other | |||
Disclosure of initial application of standards or interpretations [line items] | |||
Notional amount | 3,119,000,000 | ||
HSBC Holdings | Fair value hedges | Not impacted by Ibor reform | |||
Disclosure of initial application of standards or interpretations [line items] | |||
Notional amount | 0 | ||
HSBC Holdings | Cash flow hedges | |||
Disclosure of initial application of standards or interpretations [line items] | |||
Notional amount | 0 | ||
HSBC Holdings | Cash flow hedges | Impacted by Ibor reform | |||
Disclosure of initial application of standards or interpretations [line items] | |||
Notional amount | 0 | ||
HSBC Holdings | Cash flow hedges | Impacted by Ibor reform | € | |||
Disclosure of initial application of standards or interpretations [line items] | |||
Notional amount | 0 | ||
HSBC Holdings | Cash flow hedges | Impacted by Ibor reform | £ | |||
Disclosure of initial application of standards or interpretations [line items] | |||
Notional amount | 0 | ||
HSBC Holdings | Cash flow hedges | Impacted by Ibor reform | $ | |||
Disclosure of initial application of standards or interpretations [line items] | |||
Notional amount | 0 | ||
HSBC Holdings | Cash flow hedges | Impacted by Ibor reform | Other | |||
Disclosure of initial application of standards or interpretations [line items] | |||
Notional amount | 0 | ||
HSBC Holdings | Cash flow hedges | Not impacted by Ibor reform | |||
Disclosure of initial application of standards or interpretations [line items] | |||
Notional amount | 0 | ||
Interest rate | |||
Disclosure of initial application of standards or interpretations [line items] | |||
Hedging instrument, assets | $ 1,080 | $ 1,208 | |
Hedging instrument, liabilities | $ 2,261 | $ 2,031 | |
Notional amount | 163,271,000,000 | 177,006,000,000 | |
Interest rate | Impacted by Ibor reform | |||
Disclosure of initial application of standards or interpretations [line items] | |||
Notional amount | 123,667,000,000 | ||
Interest rate | Impacted by Ibor reform | € | |||
Disclosure of initial application of standards or interpretations [line items] | |||
Notional amount | 26,102,000,000 | ||
Interest rate | Impacted by Ibor reform | £ | |||
Disclosure of initial application of standards or interpretations [line items] | |||
Notional amount | 11,127,000,000 | ||
Interest rate | Impacted by Ibor reform | $ | |||
Disclosure of initial application of standards or interpretations [line items] | |||
Notional amount | 57,024,000,000 | ||
Interest rate | Impacted by Ibor reform | Other | |||
Disclosure of initial application of standards or interpretations [line items] | |||
Notional amount | 29,414,000,000 | ||
Interest rate | Not impacted by Ibor reform | |||
Disclosure of initial application of standards or interpretations [line items] | |||
Notional amount | 53,339,000,000 | ||
Interest rate | Fair value hedges | |||
Disclosure of initial application of standards or interpretations [line items] | |||
Notional amount | 122,753,000,000 | ||
Interest rate | Fair value hedges | Impacted by Ibor reform | |||
Disclosure of initial application of standards or interpretations [line items] | |||
Notional amount | 79,620,000,000 | ||
Interest rate | Fair value hedges | Impacted by Ibor reform | € | |||
Disclosure of initial application of standards or interpretations [line items] | |||
Notional amount | 20,378,000,000 | ||
Interest rate | Fair value hedges | Impacted by Ibor reform | £ | |||
Disclosure of initial application of standards or interpretations [line items] | |||
Notional amount | 4,533,000,000 | ||
Interest rate | Fair value hedges | Impacted by Ibor reform | $ | |||
Disclosure of initial application of standards or interpretations [line items] | |||
Notional amount | 41,274,000,000 | ||
Interest rate | Fair value hedges | Impacted by Ibor reform | Other | |||
Disclosure of initial application of standards or interpretations [line items] | |||
Notional amount | 13,435,000,000 | ||
Interest rate | Fair value hedges | Not impacted by Ibor reform | |||
Disclosure of initial application of standards or interpretations [line items] | |||
Notional amount | 43,133,000,000 | ||
Interest rate | Cash flow hedges | |||
Disclosure of initial application of standards or interpretations [line items] | |||
Notional amount | 54,253,000,000 | ||
Interest rate | Cash flow hedges | Impacted by Ibor reform | |||
Disclosure of initial application of standards or interpretations [line items] | |||
Notional amount | 44,047,000,000 | ||
Interest rate | Cash flow hedges | Impacted by Ibor reform | € | |||
Disclosure of initial application of standards or interpretations [line items] | |||
Notional amount | 5,724,000,000 | ||
Interest rate | Cash flow hedges | Impacted by Ibor reform | £ | |||
Disclosure of initial application of standards or interpretations [line items] | |||
Notional amount | 6,594,000,000 | ||
Interest rate | Cash flow hedges | Impacted by Ibor reform | $ | |||
Disclosure of initial application of standards or interpretations [line items] | |||
Notional amount | 15,750,000,000 | ||
Interest rate | Cash flow hedges | Impacted by Ibor reform | Other | |||
Disclosure of initial application of standards or interpretations [line items] | |||
Notional amount | 15,979,000,000 | ||
Interest rate | Cash flow hedges | Not impacted by Ibor reform | |||
Disclosure of initial application of standards or interpretations [line items] | |||
Notional amount | 10,206,000,000 | ||
Interest rate | HSBC Holdings | Fair value hedges | |||
Disclosure of initial application of standards or interpretations [line items] | |||
Hedging instrument, assets | $ 217 | $ 1,406 | |
Hedging instrument, liabilities | $ 838 | $ 183 | |
Notional amount | 38,418,000,000 | 36,769,000,000 |
Derivatives - Hedges of net inv
Derivatives - Hedges of net investments in foreign operations (Details) number in Millions | 12 Months Ended | |
Dec. 31, 2018USD ($) | Dec. 31, 2019USD ($) | |
Disclosure of detailed information about hedging instruments [line items] | ||
Fair value of hedging assets | $ 1,538,000,000 | $ 1,663,000,000 |
Fair value of hedging liabilities | $ 2,914,000,000 | $ 2,771,000,000 |
Notional amount | 193,240 | 208,905 |
Gains (losses) on ineffectiveness of hedges of net investments in foreign operations recognised in profit or loss | $ 0 | |
Hedges of net investment in foreign operations | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Fair value of hedging assets | 163,000,000 | $ 0 |
Fair value of hedging liabilities | $ 0 | $ 485,000,000 |
Notional amount | 5,000 | 10,500 |
Financial Investments - Carryi
Financial Investments - Carrying amount of financial investments (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of financial assets [line items] | ||
Financial assets | $ 2,621,427 | $ 2,471,203 |
Financial assets, at fair value | 446,705 | 406,647 |
Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 85,735 | 62,666 |
Equity securities | ||
Disclosure of financial assets [line items] | ||
Financial assets, at fair value | 1,913 | 1,657 |
Financial investments | ||
Disclosure of financial assets [line items] | ||
Financial assets | 443,312 | 407,433 |
Financial investments | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 335,795 | 308,358 |
Financial investments | ||
Disclosure of financial assets [line items] | ||
Financial assets | 357,577 | 344,767 |
Financial investments | Treasury and other eligible bills | ||
Disclosure of financial assets [line items] | ||
Financial assets | 95,043 | 96,642 |
Financial investments | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 260,536 | 246,371 |
Financial investments | Equity securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,913 | 1,657 |
Financial investments | Other instruments | ||
Disclosure of financial assets [line items] | ||
Financial assets | 85 | 97 |
Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | 85,735 | 62,666 |
Financial assets, at fair value | 89,100 | 62,100 |
Debt instruments measured at amortised cost | Treasury and other eligible bills | ||
Disclosure of financial assets [line items] | ||
Financial assets | 10,476 | 679 |
Debt instruments measured at amortised cost | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 75,259 | $ 61,987 |
Financial Investments - Equity
Financial Investments - Equity instruments measured at fair value through other comprehensive income (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Fair value of equity instruments held at year end | $ 1,913 | $ 1,657 |
Dividends recognised for equity instruments held at year end | 50 | 64 |
Investments required by central institutions | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Fair value of equity instruments held at year end | 738 | 848 |
Dividends recognised for equity instruments held at year end | 22 | 34 |
Business facilitation | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Fair value of equity instruments held at year end | 1,124 | 758 |
Dividends recognised for equity instruments held at year end | 19 | 21 |
Others | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Fair value of equity instruments held at year end | 51 | 51 |
Dividends recognised for equity instruments held at year end | $ 9 | $ 9 |
Financial Investments - Financ
Financial Investments - Financial investments at amortised cost and fair value (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of financial assets [line items] | ||
Amortised cost | $ 436,959 | $ 404,111 |
Fair value | 446,705 | 406,647 |
US Treasury | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 79,633 | 54,941 |
Fair value | 80,589 | 54,763 |
US Government agencies | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 26,356 | 21,058 |
Fair value | 26,387 | 20,580 |
US Government-sponsored entities | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 8,070 | 12,867 |
Fair value | 8,259 | 12,701 |
UK Government | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 28,621 | 20,576 |
Fair value | 28,973 | 21,083 |
Hong Kong Government | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 47,824 | 49,956 |
Fair value | 47,820 | 49,955 |
Other governments | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 140,510 | 142,495 |
Fair value | 142,511 | 144,099 |
Asset-backed securities | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 2,954 | 3,579 |
Fair value | 2,889 | 3,390 |
Corporate debt and other securities | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 101,750 | 97,286 |
Fair value | 107,364 | 98,419 |
Equities | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 1,241 | 1,353 |
Fair value | 1,913 | 1,657 |
Debt securities issued by banks and other financial institutions | ||
Disclosure of financial assets [line items] | ||
Fair value | 61,000 | 56,000 |
Debt securities issued by banks and other financial institutions, guaranteed by governments | ||
Disclosure of financial assets [line items] | ||
Fair value | $ 11,000 | $ 8,000 |
Financial Investments - Maturi
Financial Investments - Maturities of investments in debt securities at their carrying amount (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of financial assets [line items] | ||
Financial assets | $ 2,621,427 | $ 2,471,203 |
Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 85,735 | 62,666 |
Financial investments | ||
Disclosure of financial assets [line items] | ||
Financial assets | 443,312 | 407,433 |
Financial investments | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 335,795 | 308,358 |
Financial investments | Up to 1 year | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 67,305 | 64,117 |
Financial investments | 1 to 5 years | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 138,135 | 134,161 |
Financial investments | 5 to 10 years | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 64,262 | 52,259 |
Financial investments | Over 10 years | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 66,093 | 57,821 |
Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Financial assets | 357,577 | 344,767 |
Debt securities measured at fair value through other comprehensive income | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 260,536 | 246,371 |
Debt securities measured at fair value through other comprehensive income | Up to 1 year | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 61,833 | 61,598 |
Debt securities measured at fair value through other comprehensive income | 1 to 5 years | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 123,740 | 124,075 |
Debt securities measured at fair value through other comprehensive income | 5 to 10 years | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 42,831 | 36,194 |
Debt securities measured at fair value through other comprehensive income | Over 10 years | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 32,132 | 24,504 |
Debt securities measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | 85,735 | 62,666 |
Debt securities measured at amortised cost | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 75,259 | 61,987 |
Debt securities measured at amortised cost | Up to 1 year | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 5,472 | 2,519 |
Debt securities measured at amortised cost | 1 to 5 years | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 14,395 | 10,086 |
Debt securities measured at amortised cost | 5 to 10 years | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 21,431 | 16,065 |
Debt securities measured at amortised cost | Over 10 years | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 33,961 | $ 33,317 |
Financial Investments - Contra
Financial Investments - Contractual maturities and weighted average yields of investment debt securities (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of financial assets [line items] | ||
Amortised cost | $ 436,959 | $ 404,111 |
Financial assets | 2,621,427 | 2,471,203 |
Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Financial assets | 357,577 | 344,767 |
Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | 85,735 | 62,666 |
Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 85,735 | 62,666 |
Debt securities | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Financial assets | 260,536 | 246,371 |
Debt securities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | 75,259 | 61,987 |
US Treasury | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 79,633 | 54,941 |
US Government agencies | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 26,356 | 21,058 |
US Government-sponsored entities | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 8,070 | 12,867 |
UK Government | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 28,621 | 20,576 |
Hong Kong Government | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 47,824 | 49,956 |
Other governments | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 140,510 | 142,495 |
Asset-backed securities | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 2,954 | 3,579 |
Corporate debt and other securities | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 101,750 | 97,286 |
Up to 1 year | Debt securities | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 61,184 | |
Financial assets | 61,833 | 61,598 |
Up to 1 year | Debt securities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 5,472 | |
Financial assets | 5,472 | 2,519 |
Up to 1 year | US Treasury | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 6,322 | |
Yield | 2.10% | |
Up to 1 year | US Treasury | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 3,010 | |
Yield | 1.90% | |
Up to 1 year | US Government agencies | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 0 | |
Yield | 0.00% | |
Up to 1 year | US Government agencies | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 0 | |
Yield | 0.00% | |
Up to 1 year | US Government-sponsored entities | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 725 | |
Yield | 2.80% | |
Up to 1 year | US Government-sponsored entities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 0 | |
Yield | 0.00% | |
Up to 1 year | UK Government | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 4,681 | |
Yield | 1.30% | |
Up to 1 year | Hong Kong Government | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 559 | |
Yield | 1.30% | |
Up to 1 year | Hong Kong Government | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 10 | |
Yield | 1.60% | |
Up to 1 year | Other governments | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 39,144 | |
Yield | 2.30% | |
Up to 1 year | Other governments | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 128 | |
Yield | 4.40% | |
Up to 1 year | Asset-backed securities | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 18 | |
Yield | 2.70% | |
Up to 1 year | Asset-backed securities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 0 | |
Yield | 0.00% | |
Up to 1 year | Corporate debt and other securities | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 9,735 | |
Yield | 2.00% | |
Up to 1 year | Corporate debt and other securities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 2,324 | |
Yield | 3.50% | |
1 to 5 years | Debt securities | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 121,229 | |
Financial assets | 123,740 | 124,075 |
1 to 5 years | Debt securities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 14,395 | |
Financial assets | 14,395 | 10,086 |
1 to 5 years | US Treasury | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 26,834 | |
Yield | 2.00% | |
1 to 5 years | US Treasury | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 4,879 | |
Yield | 1.80% | |
1 to 5 years | US Government agencies | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 79 | |
Yield | 2.20% | |
1 to 5 years | US Government agencies | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 13 | |
Yield | 3.80% | |
1 to 5 years | US Government-sponsored entities | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 167 | |
Yield | 3.10% | |
1 to 5 years | US Government-sponsored entities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 482 | |
Yield | 2.70% | |
1 to 5 years | UK Government | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 4,393 | |
Yield | 1.10% | |
1 to 5 years | Hong Kong Government | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 145 | |
Yield | 1.80% | |
1 to 5 years | Hong Kong Government | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 20 | |
Yield | 1.60% | |
1 to 5 years | Other governments | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 54,689 | |
Yield | 2.80% | |
1 to 5 years | Other governments | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 552 | |
Yield | 3.40% | |
1 to 5 years | Asset-backed securities | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 1 | |
Yield | 0.50% | |
1 to 5 years | Asset-backed securities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 0 | |
Yield | 0.00% | |
1 to 5 years | Corporate debt and other securities | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 34,921 | |
Yield | 1.80% | |
1 to 5 years | Corporate debt and other securities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 8,449 | |
Yield | 3.40% | |
5 to 10 years | Debt securities | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 41,426 | |
Financial assets | 42,831 | 36,194 |
5 to 10 years | Debt securities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 21,431 | |
Financial assets | 21,431 | 16,065 |
5 to 10 years | US Treasury | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 18,208 | |
Yield | 2.00% | |
5 to 10 years | US Treasury | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 2,931 | |
Yield | 1.90% | |
5 to 10 years | US Government agencies | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 1 | |
Yield | 4.70% | |
5 to 10 years | US Government agencies | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 19 | |
Yield | 3.50% | |
5 to 10 years | US Government-sponsored entities | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 1,940 | |
Yield | 2.80% | |
5 to 10 years | US Government-sponsored entities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 551 | |
Yield | 2.30% | |
5 to 10 years | UK Government | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 4,443 | |
Yield | 0.20% | |
5 to 10 years | Hong Kong Government | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 152 | |
Yield | 3.20% | |
5 to 10 years | Hong Kong Government | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 9 | |
Yield | 1.40% | |
5 to 10 years | Other governments | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 11,478 | |
Yield | 1.70% | |
5 to 10 years | Other governments | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 487 | |
Yield | 3.10% | |
5 to 10 years | Asset-backed securities | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 325 | |
Yield | 3.10% | |
5 to 10 years | Asset-backed securities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 0 | |
Yield | 0.00% | |
5 to 10 years | Corporate debt and other securities | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 4,879 | |
Yield | 2.20% | |
5 to 10 years | Corporate debt and other securities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 17,434 | |
Yield | 3.30% | |
Over 10 years | Debt securities | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 31,118 | |
Financial assets | 32,132 | 24,504 |
Over 10 years | Debt securities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 33,961 | |
Financial assets | 33,961 | $ 33,317 |
Over 10 years | US Treasury | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 3,268 | |
Yield | 2.90% | |
Over 10 years | US Treasury | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 141 | |
Yield | 4.20% | |
Over 10 years | US Government agencies | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 15,581 | |
Yield | 2.60% | |
Over 10 years | US Government agencies | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 10,286 | |
Yield | 2.60% | |
Over 10 years | US Government-sponsored entities | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 2,191 | |
Yield | 3.00% | |
Over 10 years | US Government-sponsored entities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 2,015 | |
Yield | 3.20% | |
Over 10 years | UK Government | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 2,811 | |
Yield | 2.80% | |
Over 10 years | Hong Kong Government | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 0 | |
Yield | 0.00% | |
Over 10 years | Hong Kong Government | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 0 | |
Yield | 0.00% | |
Over 10 years | Other governments | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 1,862 | |
Yield | 3.60% | |
Over 10 years | Other governments | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 832 | |
Yield | 4.20% | |
Over 10 years | Asset-backed securities | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 2,610 | |
Yield | 2.20% | |
Over 10 years | Asset-backed securities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 2 | |
Yield | 7.50% | |
Over 10 years | Corporate debt and other securities | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 2,795 | |
Yield | 3.40% | |
Over 10 years | Corporate debt and other securities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 20,685 | |
Yield | 3.80% |
Financial Investments - HSBC H
Financial Investments - HSBC Holdings, Carrying amount of financial investments (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of financial assets [line items] | ||
Financial assets | $ 2,621,427,000,000 | $ 2,471,203,000,000 |
Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 85,735,000,000 | 62,666,000,000 |
Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | 85,735,000,000 | 62,666,000,000 |
Debt instruments measured at amortised cost | Treasury and other eligible bills | ||
Disclosure of financial assets [line items] | ||
Financial assets | 10,476,000,000 | 679,000,000 |
Debt instruments measured at amortised cost | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 75,259,000,000 | 61,987,000,000 |
HSBC Holdings | ||
Disclosure of financial assets [line items] | ||
Financial assets | 93,215,000,000 | 83,933,000,000 |
HSBC Holdings | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 16,106,000,000 | |
HSBC Holdings | Highly liquid securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 16,100,000,000 | 0 |
HSBC Holdings | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | 16,106,000,000 | 0 |
HSBC Holdings | Debt instruments measured at amortised cost | Treasury and other eligible bills | ||
Disclosure of financial assets [line items] | ||
Financial assets | 10,081,000,000 | 0 |
HSBC Holdings | Debt instruments measured at amortised cost | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 6,025,000,000 | 0 |
HSBC Holdings | Debt instruments measured at amortised cost | Highly liquid securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 16,100,000,000 | $ 0 |
Financial Investments - HSBC_2
Financial Investments - HSBC Holdings, Financial investments at amortised cost and fair value (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of financial assets [line items] | ||
Amortised cost | $ 436,959 | $ 404,111 |
Fair value | 446,705 | 406,647 |
US Treasury | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 79,633 | 54,941 |
Fair value | 80,589 | 54,763 |
US Government agencies | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 26,356 | 21,058 |
Fair value | 26,387 | 20,580 |
US Government-sponsored entities | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 8,070 | 12,867 |
Fair value | 8,259 | 12,701 |
HSBC Holdings | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 16,106 | 0 |
Fair value | 16,121 | 0 |
HSBC Holdings | US Treasury | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 16,106 | 0 |
Fair value | 16,121 | 0 |
HSBC Holdings | US Government agencies | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 0 | 0 |
Fair value | 0 | 0 |
HSBC Holdings | US Government-sponsored entities | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 0 | 0 |
Fair value | $ 0 | $ 0 |
Financial Investments - HSBC_3
Financial Investments - HSBC Holdings, Maturities of investments in debt securities at their carrying amount (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of financial assets [line items] | ||
Financial assets | $ 2,621,427 | $ 2,471,203 |
Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 85,735 | 62,666 |
Financial investments | ||
Disclosure of financial assets [line items] | ||
Financial assets | 443,312 | 407,433 |
Financial investments | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 335,795 | 308,358 |
Financial investments | Up to 1 year | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 67,305 | 64,117 |
Financial investments | 1 to 5 years | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 138,135 | 134,161 |
Financial investments | 5 to 10 years | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 64,262 | 52,259 |
Financial investments | Over 10 years | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 66,093 | 57,821 |
Debt securities measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | 85,735 | 62,666 |
Debt securities measured at amortised cost | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 75,259 | 61,987 |
Debt securities measured at amortised cost | Up to 1 year | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 5,472 | 2,519 |
Debt securities measured at amortised cost | 1 to 5 years | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 14,395 | 10,086 |
Debt securities measured at amortised cost | 5 to 10 years | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 21,431 | 16,065 |
Debt securities measured at amortised cost | Over 10 years | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 33,961 | 33,317 |
HSBC Holdings | ||
Disclosure of financial assets [line items] | ||
Financial assets | 93,215 | 83,933 |
HSBC Holdings | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 16,106 | |
HSBC Holdings | Financial investments | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 6,025 | 0 |
HSBC Holdings | Financial investments | Up to 1 year | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 3,010 | 0 |
HSBC Holdings | Financial investments | 1 to 5 years | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 3,015 | 0 |
HSBC Holdings | Financial investments | 5 to 10 years | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 0 | 0 |
HSBC Holdings | Financial investments | Over 10 years | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 0 | 0 |
HSBC Holdings | Debt securities measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | 16,106 | 0 |
HSBC Holdings | Debt securities measured at amortised cost | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 6,025 | 0 |
HSBC Holdings | Debt securities measured at amortised cost | Up to 1 year | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 3,010 | 0 |
HSBC Holdings | Debt securities measured at amortised cost | 1 to 5 years | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 3,015 | 0 |
HSBC Holdings | Debt securities measured at amortised cost | 5 to 10 years | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 0 | 0 |
HSBC Holdings | Debt securities measured at amortised cost | Over 10 years | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 0 | $ 0 |
Financial Investments - HSBC_4
Financial Investments - HSBC Holdings, Contractual maturities and weighted average yields of investment debt securities (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of financial assets [line items] | ||
Amortised cost | $ 436,959 | $ 404,111 |
Financial assets | 2,621,427 | 2,471,203 |
Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | 85,735 | 62,666 |
Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 85,735 | 62,666 |
Debt securities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | 75,259 | 61,987 |
US Treasury | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 79,633 | 54,941 |
US Government agencies | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 26,356 | 21,058 |
US Government-sponsored entities | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 8,070 | 12,867 |
Up to 1 year | Debt securities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 5,472 | |
Financial assets | 5,472 | 2,519 |
Up to 1 year | US Treasury | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 3,010 | |
Yield | 1.90% | |
Up to 1 year | US Government agencies | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 0 | |
Yield | 0.00% | |
Up to 1 year | US Government-sponsored entities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 0 | |
Yield | 0.00% | |
1 to 5 years | Debt securities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 14,395 | |
Financial assets | 14,395 | 10,086 |
1 to 5 years | US Treasury | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 4,879 | |
Yield | 1.80% | |
1 to 5 years | US Government agencies | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 13 | |
Yield | 3.80% | |
1 to 5 years | US Government-sponsored entities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 482 | |
Yield | 2.70% | |
5 to 10 years | Debt securities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 21,431 | |
Financial assets | 21,431 | 16,065 |
5 to 10 years | US Treasury | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 2,931 | |
Yield | 1.90% | |
5 to 10 years | US Government agencies | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 19 | |
Yield | 3.50% | |
5 to 10 years | US Government-sponsored entities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 551 | |
Yield | 2.30% | |
Over 10 years | Debt securities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 33,961 | |
Financial assets | 33,961 | 33,317 |
Over 10 years | US Treasury | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 141 | |
Yield | 4.20% | |
Over 10 years | US Government agencies | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 10,286 | |
Yield | 2.60% | |
Over 10 years | US Government-sponsored entities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 2,015 | |
Yield | 3.20% | |
HSBC Holdings | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 16,106 | 0 |
Financial assets | 93,215 | 83,933 |
HSBC Holdings | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | 16,106 | 0 |
HSBC Holdings | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 16,106 | |
HSBC Holdings | Debt securities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | 6,025 | 0 |
HSBC Holdings | US Treasury | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 16,106 | 0 |
HSBC Holdings | US Government agencies | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 0 | 0 |
HSBC Holdings | US Government-sponsored entities | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 0 | 0 |
HSBC Holdings | Up to 1 year | Debt securities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 3,010 | |
Financial assets | 3,010 | 0 |
HSBC Holdings | Up to 1 year | US Treasury | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 3,010 | |
Yield | 1.90% | |
HSBC Holdings | Up to 1 year | US Government agencies | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 0 | |
Yield | 0.00% | |
HSBC Holdings | Up to 1 year | US Government-sponsored entities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 0 | |
Yield | 0.00% | |
HSBC Holdings | 1 to 5 years | Debt securities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 3,015 | |
Financial assets | 3,015 | 0 |
HSBC Holdings | 1 to 5 years | US Treasury | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 3,015 | |
Yield | 1.70% | |
HSBC Holdings | 1 to 5 years | US Government agencies | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 0 | |
Yield | 0.00% | |
HSBC Holdings | 1 to 5 years | US Government-sponsored entities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 0 | |
Yield | 0.00% | |
HSBC Holdings | 5 to 10 years | Debt securities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 0 | |
Financial assets | 0 | 0 |
HSBC Holdings | 5 to 10 years | US Treasury | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 0 | |
Yield | 0.00% | |
HSBC Holdings | 5 to 10 years | US Government agencies | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 0 | |
Yield | 0.00% | |
HSBC Holdings | 5 to 10 years | US Government-sponsored entities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 0 | |
Yield | 0.00% | |
HSBC Holdings | Over 10 years | Debt securities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 0 | |
Financial assets | 0 | $ 0 |
HSBC Holdings | Over 10 years | US Treasury | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 0 | |
Yield | 0.00% | |
HSBC Holdings | Over 10 years | US Government agencies | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 0 | |
Yield | 0.00% | |
HSBC Holdings | Over 10 years | US Government-sponsored entities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 0 | |
Yield | 0.00% |
Assets pledged, collateral re_3
Assets pledged, collateral received and assets transferred - Assets pledged and collateral received (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | $ 177,878 | $ 215,028 |
Financial assets pledged as collateral which the counterparty has the right to sell or repledge | 73,945 | 91,862 |
Assets accepted as collateral that can be sold or repledged in the absence of default | 468,798 | 482,818 |
Assets accepted as collateral and sold or repledged | 304,261 | 350,848 |
Trading assets | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral which the counterparty has the right to sell or repledge | 63,163 | 76,121 |
Financial investments | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral which the counterparty has the right to sell or repledge | 10,782 | 15,741 |
Treasury and other eligible bills | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 14,034 | 11,470 |
Loans and advances to banks | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 1,975 | 151 |
Loans and advances to customers | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 26,017 | 51,659 |
Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 60,995 | 95,210 |
Equity securities | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 24,626 | 22,510 |
Other | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | $ 50,231 | $ 34,028 |
Assets pledged, collateral re_4
Assets pledged, collateral received and assets transferred - Transferred financial assets not qualifying for full derecognition and associated financial liabilities (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Repurchase agreements | ||
Disclosure of transferred financial assets that are not derecognised in their entirety [line items] | ||
Carrying amount of transferred assets | $ 45,831 | $ 62,216 |
Carrying amount of associated liabilities | 45,671 | 60,361 |
Fair value of transferred assets | ||
Fair value of associated liabilities | ||
Net position | ||
Securities lending agreements | ||
Disclosure of transferred financial assets that are not derecognised in their entirety [line items] | ||
Carrying amount of transferred assets | 35,122 | 32,486 |
Carrying amount of associated liabilities | 3,225 | 2,426 |
Fair value of transferred assets | ||
Fair value of associated liabilities | ||
Net position | ||
Other sales (recourse to transferred assets only) | ||
Disclosure of transferred financial assets that are not derecognised in their entirety [line items] | ||
Carrying amount of transferred assets | 2,971 | 2,647 |
Carrying amount of associated liabilities | 2,885 | 2,647 |
Fair value of transferred assets | 2,974 | 2,625 |
Fair value of associated liabilities | 2,897 | 2,630 |
Net position | $ 77 | $ (5) |
Interest in associates and jo_3
Interest in associates and joint ventures - Carrying amount of interests in associates and joint ventures (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Interests In Other Entities [Abstract] | |||
Interests in associates | $ 24,384 | $ 22,244 | |
Interests in joint ventures | 90 | 163 | |
Interests in associates and joint ventures | $ 24,474 | $ 22,407 | $ 22,744 |
Interest in associates and jo_4
Interest in associates and joint ventures - Principal associates of HSBC (Details) - USD ($) $ in Millions | Dec. 31, 2019 | May 31, 2019 | Jun. 30, 2019 | Dec. 31, 2019 | Sep. 30, 2019 | Dec. 31, 2018 | Sep. 30, 2018 |
Disclosure of associates [line items] | |||||||
Carrying amount | $ 24,384 | $ 24,384 | $ 22,244 | ||||
Bank of Communications Co., Limited | |||||||
Disclosure of associates [line items] | |||||||
Carrying amount | 18,982 | 18,982 | $ 18,982 | 17,754 | $ 17,754 | ||
Fair value | $ 10,054 | $ 10,054 | 10,991 | ||||
HSBC’s interest percent | 19.03% | 19.03% | |||||
The Saudi British Bank | |||||||
Disclosure of associates [line items] | |||||||
Carrying amount | $ 4,370 | $ 4,370 | 3,557 | ||||
Fair value | $ 5,550 | $ 5,550 | $ 5,222 | ||||
HSBC’s interest percent | 29.20% | 40.00% | 29.20% | 29.20% | |||
Dilution gain | $ 828 |
Interest in associates and jo_5
Interest in associates and joint ventures - Impairment testing (Details) - USD ($) | 12 Months Ended | |||
Dec. 31, 2019 | Sep. 30, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | |
Disclosure of associates [line items] | ||||
Carrying amount | $ 24,384,000,000 | $ 22,244,000,000 | ||
BoCom | ||||
Disclosure of associates [line items] | ||||
Period for which the fair value was below carrying amount (in months) | 8 years | |||
Impairment loss | $ 0 | |||
VIU | 21,500,000,000 | 18,000,000,000 | ||
Carrying amount | 18,982,000,000 | $ 18,982,000,000 | 17,754,000,000 | $ 17,754,000,000 |
Fair value | $ 10,054,000,000 | $ 10,991,000,000 |
Interest in associates and jo_6
Interest in associates and joint ventures - Key assumptions in value in use calculation (Details) - Bank of Communications Co., Limited | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of associates [line items] | ||
Long-term profit growth rate | 3.00% | 3.00% |
Long-term asset growth rate | 3.00% | 3.00% |
Discount rate | 11.24% | 11.82% |
Expected credit losses as a percentage of customer advances in the short to medium term | 0.95% | |
Expected credit losses as a percentage of customer advances in the long term | 0.76% | 0.70% |
Risk-weighted assets as a percentage of total assets | 61.00% | 62.00% |
Effective tax rate in the long-term | 22.50% | 22.50% |
Capital adequacy ratio | 11.50% | 11.50% |
Tier 1 capital adequacy ratio | 9.50% | 9.50% |
Long-term profit growth rate | ||
Disclosure of associates [line items] | ||
Changes to key assumptions to reduce headroom to nil | (0.99%) | |
Long-term asset growth rate | ||
Disclosure of associates [line items] | ||
Changes to key assumptions to reduce headroom to nil | 0.80% | |
Discount rate | ||
Disclosure of associates [line items] | ||
Changes to key assumptions to reduce headroom to nil | 1.22% | |
Expected credit losses as a percentage of customer advances | ||
Disclosure of associates [line items] | ||
Changes to key assumptions to reduce headroom to nil | 0.16% | |
Risk-weighted assets as a percentage of total assets | ||
Disclosure of associates [line items] | ||
Changes to key assumptions to reduce headroom to nil | 6.24% | |
Cost-income ratio | ||
Disclosure of associates [line items] | ||
Changes to key assumptions to reduce headroom to nil | 3.73% | |
Long-term effective tax rate | ||
Disclosure of associates [line items] | ||
Changes to key assumptions to reduce headroom to nil | 9.00% | |
Capital requirements – capital adequacy ratio | ||
Disclosure of associates [line items] | ||
Changes to key assumptions to reduce headroom to nil | 1.18% | |
Capital requirements – tier 1 capital adequacy ratio | ||
Disclosure of associates [line items] | ||
Changes to key assumptions to reduce headroom to nil | 1.90% | |
Bottom of range | ||
Disclosure of associates [line items] | ||
Discount rate | 10.00% | 10.40% |
Expected credit losses as a percentage of customer advances in the short to medium term | 0.73% | |
Cost-income ratio | 37.10% | 38.70% |
Effective tax rate in the short to medium-term | 12.00% | 13.80% |
Top of range | ||
Disclosure of associates [line items] | ||
Discount rate | 15.00% | 15.00% |
Expected credit losses as a percentage of customer advances in the short to medium term | 0.79% | |
Cost-income ratio | 38.80% | 39.00% |
Effective tax rate in the short to medium-term | 17.00% | 22.30% |
Interest in associates and jo_7
Interest in associates and joint ventures - Sensitivity of VIU (Details) - Bank of Communications Co., Limited - USD ($) $ in Billions | Dec. 31, 2019 | Dec. 31, 2018 |
Bottom of range | ||
Disclosure of associates [line items] | ||
Value in use of investments in associates after reasonably possible changes in key assumptions | $ 18.5 | $ 15.5 |
Top of range | ||
Disclosure of associates [line items] | ||
Value in use of investments in associates after reasonably possible changes in key assumptions | $ 22.8 | $ 19.6 |
Long-term profit growth rate | ||
Disclosure of associates [line items] | ||
Change in bps due to reasonably possible favourable changes in key assumptions | 0.00% | 1.00% |
Change in VIU due to reasonably possible favourable changes in key assumptions | $ 0 | $ 2.6 |
VIU after reasonably possible favourable changes in key assumptions | $ 21.5 | $ 20.6 |
Change in bps due to reasonably possible unfavourable changes in key assumptions | (0.50%) | (0.10%) |
Change in VIU due to reasonably possible unfavourable changes in key assumptions | $ (1.3) | $ (0.2) |
VIU after reasonably possible unfavourable changes in key assumptions | $ 20.2 | $ 17.8 |
Long-term asset growth rate | ||
Disclosure of associates [line items] | ||
Change in bps due to reasonably possible favourable changes in key assumptions | (0.50%) | (0.10%) |
Change in VIU due to reasonably possible favourable changes in key assumptions | $ 1.4 | $ 0.3 |
VIU after reasonably possible favourable changes in key assumptions | $ 22.9 | $ 18.3 |
Change in bps due to reasonably possible unfavourable changes in key assumptions | 0.00% | 1.00% |
Change in VIU due to reasonably possible unfavourable changes in key assumptions | $ 0 | $ (2.8) |
VIU after reasonably possible unfavourable changes in key assumptions | $ 21.5 | $ 15.3 |
Discount rate | ||
Disclosure of associates [line items] | ||
Change in bps due to reasonably possible favourable changes in key assumptions | (0.54%) | (1.42%) |
Change in VIU due to reasonably possible favourable changes in key assumptions | $ 1.4 | $ 3.2 |
VIU after reasonably possible favourable changes in key assumptions | $ 22.9 | $ 21.3 |
Change in bps due to reasonably possible unfavourable changes in key assumptions | 0.56% | 0.28% |
Change in VIU due to reasonably possible unfavourable changes in key assumptions | $ (1.2) | $ (0.5) |
VIU after reasonably possible unfavourable changes in key assumptions | 20.3 | 17.5 |
Expected credit losses as a percentage of customer advances | ||
Disclosure of associates [line items] | ||
Change in VIU due to reasonably possible favourable changes in key assumptions | 1 | 0.9 |
VIU after reasonably possible favourable changes in key assumptions | 22.5 | 18.9 |
Change in VIU due to reasonably possible unfavourable changes in key assumptions | (1.2) | (1) |
VIU after reasonably possible unfavourable changes in key assumptions | $ 20.3 | $ 17 |
Expected credit losses as a percentage of customer advances | Not later than four years | ||
Disclosure of associates [line items] | ||
Change in bps due to reasonably possible favourable changes in key assumptions | 0.90% | 0.70% |
Change in bps due to reasonably possible unfavourable changes in key assumptions | 1.08% | 0.83% |
Expected credit losses as a percentage of customer advances | After four years | ||
Disclosure of associates [line items] | ||
Change in bps due to reasonably possible favourable changes in key assumptions | 0.70% | 0.65% |
Change in bps due to reasonably possible unfavourable changes in key assumptions | 0.81% | 0.77% |
Risk-weighted assets as a percentage of total assets | ||
Disclosure of associates [line items] | ||
Change in bps due to reasonably possible favourable changes in key assumptions | (0.96%) | (1.40%) |
Change in VIU due to reasonably possible favourable changes in key assumptions | $ 0.4 | $ 0.5 |
VIU after reasonably possible favourable changes in key assumptions | $ 21.9 | $ 18.6 |
Change in bps due to reasonably possible unfavourable changes in key assumptions | 0.12% | 0.80% |
Change in VIU due to reasonably possible unfavourable changes in key assumptions | $ 0 | $ (0.3) |
VIU after reasonably possible unfavourable changes in key assumptions | $ 21.5 | $ 17.8 |
Cost-income ratio | ||
Disclosure of associates [line items] | ||
Change in bps due to reasonably possible favourable changes in key assumptions | (1.75%) | (1.60%) |
Change in VIU due to reasonably possible favourable changes in key assumptions | $ 1 | $ 1.1 |
VIU after reasonably possible favourable changes in key assumptions | $ 22.5 | $ 19.2 |
Change in bps due to reasonably possible unfavourable changes in key assumptions | 0.95% | 2.00% |
Change in VIU due to reasonably possible unfavourable changes in key assumptions | $ (1.2) | $ (1.4) |
VIU after reasonably possible unfavourable changes in key assumptions | $ 20.3 | $ 16.7 |
Long-term effective tax rate | ||
Disclosure of associates [line items] | ||
Change in bps due to reasonably possible favourable changes in key assumptions | (3.52%) | (2.80%) |
Change in VIU due to reasonably possible favourable changes in key assumptions | $ 1 | $ 0.7 |
VIU after reasonably possible favourable changes in key assumptions | $ 22.5 | $ 18.7 |
Change in bps due to reasonably possible unfavourable changes in key assumptions | 2.50% | 2.50% |
Change in VIU due to reasonably possible unfavourable changes in key assumptions | $ (0.7) | $ (0.6) |
VIU after reasonably possible unfavourable changes in key assumptions | $ 20.8 | $ 17.5 |
Earnings in short to medium term - compound annual growth rate | ||
Disclosure of associates [line items] | ||
Change in bps due to reasonably possible favourable changes in key assumptions | 1.07% | 2.04% |
Change in VIU due to reasonably possible favourable changes in key assumptions | $ 0.5 | $ 1.1 |
VIU after reasonably possible favourable changes in key assumptions | $ 22 | $ 19.1 |
Change in bps due to reasonably possible unfavourable changes in key assumptions | (3.46%) | (3.66%) |
Change in VIU due to reasonably possible unfavourable changes in key assumptions | $ (2.4) | $ (1.8) |
VIU after reasonably possible unfavourable changes in key assumptions | $ 19.1 | $ 16.2 |
Capital requirements – capital adequacy ratio | ||
Disclosure of associates [line items] | ||
Change in bps due to reasonably possible favourable changes in key assumptions | 0.00% | 0.00% |
Change in VIU due to reasonably possible favourable changes in key assumptions | $ 0 | $ 0 |
VIU after reasonably possible favourable changes in key assumptions | $ 21.5 | $ 18 |
Change in bps due to reasonably possible unfavourable changes in key assumptions | 3.37% | 2.58% |
Change in VIU due to reasonably possible unfavourable changes in key assumptions | $ (8.2) | $ (5) |
VIU after reasonably possible unfavourable changes in key assumptions | $ 13.3 | $ 13 |
Capital requirements – tier 1 capital adequacy ratio | ||
Disclosure of associates [line items] | ||
Change in bps due to reasonably possible favourable changes in key assumptions | 0.00% | 0.00% |
Change in VIU due to reasonably possible favourable changes in key assumptions | $ 0 | $ 0 |
VIU after reasonably possible favourable changes in key assumptions | $ 21.5 | $ 18 |
Change in bps due to reasonably possible unfavourable changes in key assumptions | 3.22% | 2.43% |
Change in VIU due to reasonably possible unfavourable changes in key assumptions | $ (6) | $ (3.2) |
VIU after reasonably possible unfavourable changes in key assumptions | $ 15.5 | $ 14.8 |
Interest in associates and jo_8
Interest in associates and joint ventures - Selected balance sheet information of BoCom (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Sep. 30, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of associates [line items] | |||||||
Cash and balances at central banks | $ 154,099 | $ 162,843 | $ 180,624 | ||||
Loans and advances to banks | 69,203 | 72,167 | |||||
Loans and advances to customers | 1,036,743 | 981,696 | 962,964 | ||||
Other financial assets | 12,006 | 10,086 | |||||
Total assets | 2,715,152 | 2,558,124 | 2,521,771 | ||||
Deposits by banks and other financial institutions | 59,022 | 56,331 | |||||
Customer accounts | 1,439,115 | 1,362,643 | 1,364,462 | ||||
Other liabilities | 18,844 | 20,218 | |||||
Total liabilities | 2,522,484 | 2,363,875 | |||||
Total equity | $ 192,668 | $ 194,249 | $ 196,224 | $ 197,871 | $ 182,578 | ||
Bank of Communications Co., Limited | |||||||
Disclosure of associates [line items] | |||||||
Cash and balances at central banks | $ 112,239 | $ 125,414 | |||||
Loans and advances to banks | 108,026 | 102,980 | |||||
Loans and advances to customers | 730,510 | 686,951 | |||||
Other financial assets | 435,740 | 408,136 | |||||
Other assets | 40,101 | 42,106 | |||||
Total assets | 1,426,616 | 1,365,587 | |||||
Deposits by banks and other financial institutions | 290,492 | 304,395 | |||||
Customer accounts | 868,627 | 829,539 | |||||
Other financial liabilities | 131,772 | 94,900 | |||||
Other liabilities | 23,074 | 36,332 | |||||
Total liabilities | 1,313,965 | 1,265,166 | |||||
Total equity | $ 112,651 | $ 100,421 |
Interest in associates and jo_9
Interest in associates and joint ventures - Reconciliation of BoCom's total shareholders' equity to carrying amount (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Sep. 30, 2019 | Dec. 31, 2018 | Sep. 30, 2018 |
Disclosure of associates [line items] | ||||
Goodwill and other intangible assets | $ 20,163 | $ 24,357 | ||
Carrying amount | 24,384 | 22,244 | ||
Bank of Communications Co., Limited | ||||
Disclosure of associates [line items] | ||||
HSBC’s share of total shareholders’ equity | $ 18,509 | $ 17,275 | ||
Goodwill and other intangible assets | 473 | 479 | ||
Carrying amount | $ 18,982 | $ 18,982 | $ 17,754 | $ 17,754 |
Interest in associates and j_10
Interest in associates and joint ventures - Selected income statement information of BoCom (Details) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2019 | Sep. 30, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Dec. 31, 2017 | |
Disclosure of associates [line items] | |||||
Net interest income | $ 30,462 | $ 30,489 | $ 28,176 | ||
Net fee and commission income | 12,023 | 12,620 | 12,811 | ||
Change in expected credit losses and other credit impairment charges | (2,756) | (1,767) | (1,769) | ||
Tax expense | (4,639) | (4,865) | (5,288) | ||
Profit for the year | 8,708 | 15,025 | 11,879 | ||
Other comprehensive income | 1,017 | (4,670) | 9,383 | ||
Total comprehensive income for the year | 9,725 | 10,355 | 21,262 | ||
Dividends received from BoCom | $ 2,369 | $ 1,702 | $ 2,225 | ||
Bank of Communications Co., Limited | |||||
Disclosure of associates [line items] | |||||
Net interest income | $ 20,558 | $ 19,295 | |||
Net fee and commission income | 6,411 | 6,245 | |||
Change in expected credit losses and other credit impairment charges | (7,479) | (5,602) | |||
Depreciation and amortisation | (1,934) | (767) | |||
Tax expense | (1,636) | (1,554) | |||
Profit for the year | 11,175 | 11,116 | |||
Other comprehensive income | 315 | 190 | |||
Total comprehensive income for the year | 11,490 | 11,306 | |||
Dividends received from BoCom | $ 613 | $ 611 |
Interest in associates and j_11
Interest in associates and joint ventures - Associates and joint ventures commentary (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Interests In Other Entities [Abstract] | ||
Tax on profit | $ 314 | $ 306 |
Investments in subsidiaries - P
Investments in subsidiaries - Principal subsidiaries of HSBC Holdings (Details) - 12 months ended Dec. 31, 2019 | £ / shares | $ / shares | € / shares | $ / shares | $ / shares | ¥ / shares | RM / shares |
HSBC Bank plc | |||||||
Disclosure of subsidiaries [line items] | |||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||
HSBC UK Bank plc | |||||||
Disclosure of subsidiaries [line items] | |||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||
HSBC France | |||||||
Disclosure of subsidiaries [line items] | |||||||
Proportion of ownership interest in subsidiary | 99.00% | ||||||
HSBC Trinkaus & Burkhardt AG | |||||||
Disclosure of subsidiaries [line items] | |||||||
Proportion of ownership interest in subsidiary | 80.67% | ||||||
Hang Seng Bank Limited | |||||||
Disclosure of subsidiaries [line items] | |||||||
Proportion of ownership interest in subsidiary | 62.14% | ||||||
HSBC Bank (China) Company Limited | |||||||
Disclosure of subsidiaries [line items] | |||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||
HSBC Bank Malaysia Berhad | |||||||
Disclosure of subsidiaries [line items] | |||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||
HSBC Life (International) Limited | |||||||
Disclosure of subsidiaries [line items] | |||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||
The Hongkong and Shanghai Banking Corporation Limited | |||||||
Disclosure of subsidiaries [line items] | |||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||
HSBC Bank Middle East Limited | |||||||
Disclosure of subsidiaries [line items] | |||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||
HSBC Bank Canada | |||||||
Disclosure of subsidiaries [line items] | |||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||
HSBC Holdings | HSBC Bank plc | |||||||
Disclosure of subsidiaries [line items] | |||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||
HSBC Holdings | HSBC UK Bank plc | |||||||
Disclosure of subsidiaries [line items] | |||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||
HSBC Holdings | HSBC France | |||||||
Disclosure of subsidiaries [line items] | |||||||
Proportion of ownership interest in subsidiary | 99.99% | ||||||
Par value per share (in dollars per share) | € / shares | € 5 | ||||||
HSBC Holdings | HSBC Trinkaus & Burkhardt AG | |||||||
Disclosure of subsidiaries [line items] | |||||||
Proportion of ownership interest in subsidiary | 80.67% | ||||||
HSBC Holdings | Hang Seng Bank Limited | |||||||
Disclosure of subsidiaries [line items] | |||||||
Proportion of ownership interest in subsidiary | 62.14% | ||||||
HSBC Holdings | HSBC Bank (China) Company Limited | |||||||
Disclosure of subsidiaries [line items] | |||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||
HSBC Holdings | HSBC Bank Malaysia Berhad | |||||||
Disclosure of subsidiaries [line items] | |||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||
HSBC Holdings | HSBC Life (International) Limited | |||||||
Disclosure of subsidiaries [line items] | |||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||
HSBC Holdings | The Hongkong and Shanghai Banking Corporation Limited | |||||||
Disclosure of subsidiaries [line items] | |||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||
HSBC Holdings | HSBC Bank Middle East Limited | |||||||
Disclosure of subsidiaries [line items] | |||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||
HSBC Holdings | HSBC Bank Canada | |||||||
Disclosure of subsidiaries [line items] | |||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||
HSBC Holdings | HSBC Bank USA, N.A. | |||||||
Disclosure of subsidiaries [line items] | |||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||
HSBC Holdings | HSBC Mexico, S.A., Institución de Banca Múltiple, Grupo Financiero HSBC | |||||||
Disclosure of subsidiaries [line items] | |||||||
Proportion of ownership interest in subsidiary | 99.99% | ||||||
Ordinary shares | |||||||
Disclosure of subsidiaries [line items] | |||||||
Par value per share (in dollars per share) | $ 0.50 | ||||||
Ordinary shares | HSBC Holdings | HSBC Bank plc | |||||||
Disclosure of subsidiaries [line items] | |||||||
Par value per share (in dollars per share) | £ / shares | £ 1 | ||||||
Ordinary shares | HSBC Holdings | HSBC UK Bank plc | |||||||
Disclosure of subsidiaries [line items] | |||||||
Par value per share (in dollars per share) | £ / shares | £ 1 | ||||||
Ordinary shares | HSBC Holdings | Hang Seng Bank Limited | |||||||
Disclosure of subsidiaries [line items] | |||||||
Par value per share (in dollars per share) | $ 5 | ||||||
Ordinary shares | HSBC Holdings | HSBC Bank (China) Company Limited | |||||||
Disclosure of subsidiaries [line items] | |||||||
Par value per share (in dollars per share) | ¥ / shares | ¥ 1 | ||||||
Ordinary shares | HSBC Holdings | HSBC Bank Malaysia Berhad | |||||||
Disclosure of subsidiaries [line items] | |||||||
Par value per share (in dollars per share) | RM / shares | RM 0.50 | ||||||
Ordinary shares | HSBC Holdings | HSBC Life (International) Limited | |||||||
Disclosure of subsidiaries [line items] | |||||||
Par value per share (in dollars per share) | $ 1 | ||||||
Ordinary shares | HSBC Holdings | HSBC Bank Middle East Limited | |||||||
Disclosure of subsidiaries [line items] | |||||||
Par value per share (in dollars per share) | 1 | ||||||
Ordinary shares | HSBC Holdings | HSBC Bank USA, N.A. | |||||||
Disclosure of subsidiaries [line items] | |||||||
Par value per share (in dollars per share) | 100 | ||||||
Ordinary shares | HSBC Holdings | HSBC Mexico, S.A., Institución de Banca Múltiple, Grupo Financiero HSBC | |||||||
Disclosure of subsidiaries [line items] | |||||||
Par value per share (in dollars per share) | $ 2 | ||||||
Non-cumulative third dollar preference shares | HSBC Holdings | HSBC Bank plc | |||||||
Disclosure of subsidiaries [line items] | |||||||
Par value per share (in dollars per share) | 0.01 | ||||||
Cumulative redeemable preference shares | HSBC Holdings | HSBC Bank Middle East Limited | |||||||
Disclosure of subsidiaries [line items] | |||||||
Par value per share (in dollars per share) | 1 | ||||||
Preference shares | |||||||
Disclosure of subsidiaries [line items] | |||||||
Par value per share (in dollars per share) | 0.01 | ||||||
Preference shares | HSBC Holdings | HSBC Bank USA, N.A. | |||||||
Disclosure of subsidiaries [line items] | |||||||
Par value per share (in dollars per share) | $ 0.01 |
Investments in subsidiaries - I
Investments in subsidiaries - Investments in subsidiaries (commentary) (Details) - HSBC Holdings - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Disclosure of subsidiaries [line items] | ||||
Increase through new capital injections | $ 3,721 | $ 65,222 | ||
Impairment (reversal of impairment) of subsidiaries | [1] | 2,562 | (2,064) | $ 63 |
HSBC Overseas Holdings (UK) Limited | ||||
Disclosure of subsidiaries [line items] | ||||
Impairment (reversal of impairment) of subsidiaries | $ 2,475 | $ (2,200) | ||
[1] | The 2019 year includes $2,475m impairment of HSBC Overseas Holdings (UK) Limited (2018: reversal of $2,200m). |
Investments in subsidiaries - S
Investments in subsidiaries - Subsidiaries with significant non-controlling interests (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of subsidiaries [line items] | |||
Profit attributable to non-controlling interests | $ 1,325 | $ 1,298 | $ 1,081 |
Accumulated non-controlling interests of the subsidiary | 8,713 | 7,996 | |
Summarised financial information: | |||
– total assets | 2,715,152 | 2,558,124 | 2,521,771 |
– total liabilities | 2,522,484 | 2,363,875 | |
– profit for the year | 8,708 | 15,025 | 11,879 |
– total comprehensive income for the year | $ 9,725 | $ 10,355 | $ 21,262 |
Hang Seng Bank Limited | |||
Disclosure of subsidiaries [line items] | |||
Proportion of ownership interests held by non-controlling interests | 37.86% | 37.86% | |
Proportion of voting rights held by non-controlling interests | 37.86% | 37.86% | |
Profit attributable to non-controlling interests | $ 1,229 | $ 1,194 | |
Accumulated non-controlling interests of the subsidiary | 7,262 | 6,637 | |
Dividends paid to non-controlling interests | 720 | 647 | |
Summarised financial information: | |||
– total assets | 212,485 | 197,867 | |
– total liabilities | 191,819 | 179,450 | |
– net operating income before changes in expected credit losses and other credit impairment charges | 5,558 | 5,294 | |
– profit for the year | 3,251 | 3,159 | |
– total comprehensive income for the year | $ 3,461 | $ 2,950 |
Structured entities - Total ass
Structured entities - Total assets of consolidated structured entities by entity type (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of information about consolidated structured entities [line items] | |||
Total assets | $ 2,715,152 | $ 2,558,124 | $ 2,521,771 |
Total | |||
Disclosure of information about consolidated structured entities [line items] | |||
Total assets | 31,700 | 25,800 | |
Conduits | |||
Disclosure of information about consolidated structured entities [line items] | |||
Total assets | 8,600 | 9,200 | |
Securitisations | |||
Disclosure of information about consolidated structured entities [line items] | |||
Total assets | 9,600 | 5,700 | |
HSBC managed funds | |||
Disclosure of information about consolidated structured entities [line items] | |||
Total assets | 6,800 | 6,500 | |
Other | |||
Disclosure of information about consolidated structured entities [line items] | |||
Total assets | $ 6,700 | $ 4,400 |
Structured entities - Conduits
Structured entities - Conduits (Details) - USD ($) $ in Billions | Dec. 31, 2019 | Dec. 31, 2018 |
Securities investment conduits | Solitaire | ||
Disclosure of information about consolidated structured entities [line items] | ||
Asset backed securities | $ 2.1 | $ 2.3 |
Commercial paper held by HSBC | 3.2 | 3.4 |
Multi-seller conduit | ||
Disclosure of information about consolidated structured entities [line items] | ||
Maximum exposure | $ 12.4 | $ 16.1 |
Structured entities - Nature an
Structured entities - Nature and risks associated with interests in unconsolidated structured entities (Details) $ in Millions | Dec. 31, 2019USD ($)entity | Dec. 31, 2018USD ($)entity | Dec. 31, 2017USD ($) |
Disclosure of unconsolidated structured entities [line items] | |||
– trading assets | $ 254,271 | $ 238,130 | |
– financial assets designated and otherwise mandatorily measured at fair value | 43,627 | 41,111 | |
– loans and advances to customers | 1,036,743 | 981,696 | $ 962,964 |
– financial investments | 14,830 | 13,753 | |
– other liabilities | $ 18,844 | $ 20,218 | |
Total | |||
Disclosure of unconsolidated structured entities [line items] | |||
Number of entities | entity | 2,489 | 2,301 | |
Total assets in relation to HSBC’s interests in the unconsolidated structured entities | $ 33,700 | $ 25,700 | |
– trading assets | 5,000 | 1,700 | |
– financial assets designated and otherwise mandatorily measured at fair value | 19,100 | 15,200 | |
– loans and advances to customers | 8,000 | 6,800 | |
– financial investments | 1,000 | 1,600 | |
– other assets | 600 | 400 | |
Total liabilities in relation to HSBC’s interests in the unconsolidated structured entities | 300 | 200 | |
– other liabilities | 300 | 200 | |
Other off-balance sheet commitments | 5,200 | 5,200 | |
HSBC's maximum exposure | $ 38,600 | $ 30,700 | |
Total | 0–500 | |||
Disclosure of unconsolidated structured entities [line items] | |||
Number of entities | entity | 1,067 | 1,304 | |
Total | 500–2,000 | |||
Disclosure of unconsolidated structured entities [line items] | |||
Number of entities | entity | 731 | 641 | |
Total | 2,000–5,000 | |||
Disclosure of unconsolidated structured entities [line items] | |||
Number of entities | entity | 373 | 248 | |
Total | 5,000–25,000 | |||
Disclosure of unconsolidated structured entities [line items] | |||
Number of entities | entity | 274 | 96 | |
Total | Over 25,000 | |||
Disclosure of unconsolidated structured entities [line items] | |||
Number of entities | entity | 44 | 12 | |
Securitisations | |||
Disclosure of unconsolidated structured entities [line items] | |||
Number of entities | entity | 103 | 87 | |
Total assets in relation to HSBC’s interests in the unconsolidated structured entities | $ 5,300 | $ 3,800 | |
– trading assets | 0 | 0 | |
– financial assets designated and otherwise mandatorily measured at fair value | 0 | 0 | |
– loans and advances to customers | 5,300 | 3,800 | |
– financial investments | 0 | 0 | |
– other assets | 0 | 0 | |
Total liabilities in relation to HSBC’s interests in the unconsolidated structured entities | 0 | 0 | |
– other liabilities | 0 | 0 | |
Other off-balance sheet commitments | 300 | 800 | |
HSBC's maximum exposure | $ 5,600 | $ 4,600 | |
Securitisations | 0–500 | |||
Disclosure of unconsolidated structured entities [line items] | |||
Number of entities | entity | 91 | 76 | |
Securitisations | 500–2,000 | |||
Disclosure of unconsolidated structured entities [line items] | |||
Number of entities | entity | 12 | 10 | |
Securitisations | 2,000–5,000 | |||
Disclosure of unconsolidated structured entities [line items] | |||
Number of entities | entity | 0 | 1 | |
Securitisations | 5,000–25,000 | |||
Disclosure of unconsolidated structured entities [line items] | |||
Number of entities | entity | 0 | 0 | |
Securitisations | Over 25,000 | |||
Disclosure of unconsolidated structured entities [line items] | |||
Number of entities | entity | 0 | 0 | |
HSBC managed funds | |||
Disclosure of unconsolidated structured entities [line items] | |||
Number of entities | entity | 351 | 323 | |
Total assets in relation to HSBC’s interests in the unconsolidated structured entities | $ 9,100 | $ 8,300 | |
– trading assets | 200 | 100 | |
– financial assets designated and otherwise mandatorily measured at fair value | 8,400 | 7,300 | |
– loans and advances to customers | 0 | 0 | |
– financial investments | 500 | 900 | |
– other assets | 0 | 0 | |
Total liabilities in relation to HSBC’s interests in the unconsolidated structured entities | 0 | 0 | |
– other liabilities | 0 | 0 | |
Other off-balance sheet commitments | 300 | 100 | |
HSBC's maximum exposure | $ 9,400 | $ 8,400 | |
HSBC managed funds | 0–500 | |||
Disclosure of unconsolidated structured entities [line items] | |||
Number of entities | entity | 236 | 243 | |
HSBC managed funds | 500–2,000 | |||
Disclosure of unconsolidated structured entities [line items] | |||
Number of entities | entity | 70 | 56 | |
HSBC managed funds | 2,000–5,000 | |||
Disclosure of unconsolidated structured entities [line items] | |||
Number of entities | entity | 28 | 17 | |
HSBC managed funds | 5,000–25,000 | |||
Disclosure of unconsolidated structured entities [line items] | |||
Number of entities | entity | 14 | 5 | |
HSBC managed funds | Over 25,000 | |||
Disclosure of unconsolidated structured entities [line items] | |||
Number of entities | entity | 3 | 2 | |
Non-HSBC managed funds | |||
Disclosure of unconsolidated structured entities [line items] | |||
Number of entities | entity | 1,956 | 1,806 | |
Total assets in relation to HSBC’s interests in the unconsolidated structured entities | $ 15,100 | $ 8,900 | |
– trading assets | 3,500 | 300 | |
– financial assets designated and otherwise mandatorily measured at fair value | 10,700 | 7,900 | |
– loans and advances to customers | 400 | 300 | |
– financial investments | 500 | 400 | |
– other assets | 0 | 0 | |
Total liabilities in relation to HSBC’s interests in the unconsolidated structured entities | 0 | 0 | |
– other liabilities | 0 | 0 | |
Other off-balance sheet commitments | 3,900 | 3,300 | |
HSBC's maximum exposure | $ 19,000 | $ 12,200 | |
Non-HSBC managed funds | 0–500 | |||
Disclosure of unconsolidated structured entities [line items] | |||
Number of entities | entity | 670 | 906 | |
Non-HSBC managed funds | 500–2,000 | |||
Disclosure of unconsolidated structured entities [line items] | |||
Number of entities | entity | 642 | 570 | |
Non-HSBC managed funds | 2,000–5,000 | |||
Disclosure of unconsolidated structured entities [line items] | |||
Number of entities | entity | 345 | 230 | |
Non-HSBC managed funds | 5,000–25,000 | |||
Disclosure of unconsolidated structured entities [line items] | |||
Number of entities | entity | 260 | 90 | |
Non-HSBC managed funds | Over 25,000 | |||
Disclosure of unconsolidated structured entities [line items] | |||
Number of entities | entity | 39 | 10 | |
Other | |||
Disclosure of unconsolidated structured entities [line items] | |||
Number of entities | entity | 79 | 85 | |
Total assets in relation to HSBC’s interests in the unconsolidated structured entities | $ 4,200 | $ 4,700 | |
– trading assets | 1,300 | 1,300 | |
– financial assets designated and otherwise mandatorily measured at fair value | 0 | 0 | |
– loans and advances to customers | 2,300 | 2,700 | |
– financial investments | 0 | 300 | |
– other assets | 600 | 400 | |
Total liabilities in relation to HSBC’s interests in the unconsolidated structured entities | 300 | 200 | |
– other liabilities | 300 | 200 | |
Other off-balance sheet commitments | 700 | 1,000 | |
HSBC's maximum exposure | $ 4,600 | $ 5,500 | |
Other | 0–500 | |||
Disclosure of unconsolidated structured entities [line items] | |||
Number of entities | entity | 70 | 79 | |
Other | 500–2,000 | |||
Disclosure of unconsolidated structured entities [line items] | |||
Number of entities | entity | 7 | 5 | |
Other | 2,000–5,000 | |||
Disclosure of unconsolidated structured entities [line items] | |||
Number of entities | entity | 0 | 0 | |
Other | 5,000–25,000 | |||
Disclosure of unconsolidated structured entities [line items] | |||
Number of entities | entity | 0 | 1 | |
Other | Over 25,000 | |||
Disclosure of unconsolidated structured entities [line items] | |||
Number of entities | entity | 2 | 0 |
Goodwill and intangible asset_2
Goodwill and intangible assets - Goodwill and intangible assets (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Jan. 01, 2018 | |
Disclosure of detailed information about intangible assets [line items] | ||||
Goodwill and intangible assets | $ 20,163 | $ 24,357 | ||
Amortisation, intangible assets other than goodwill | 1,070 | 814 | $ 696 | |
Goodwill | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Goodwill and intangible assets | 5,590 | 12,986 | ||
Present value of in-force long-term insurance business | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Goodwill and intangible assets | 8,945 | 7,149 | $ 6,610 | $ 6,532 |
Capitalisation, intangible assets other than goodwill | 1,225 | 1,117 | ||
Other intangible assets | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Goodwill and intangible assets | 5,628 | 4,222 | ||
Internally generated software | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Intangible assets | 4,829 | 3,632 | ||
Capitalisation, intangible assets other than goodwill | 2,086 | 1,781 | ||
Amortisation, intangible assets other than goodwill | $ 947 | $ 687 |
Goodwill and intangible asset_3
Goodwill and intangible assets - Movement analysis of goodwill (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Reconciliation of changes in intangible assets and goodwill [abstract] | ||
Goodwill and intangible assets beginning balance | $ 24,357 | |
Goodwill and intangible assets ending balance | 20,163 | $ 24,357 |
Goodwill | ||
Reconciliation of changes in intangible assets and goodwill [abstract] | ||
Goodwill and intangible assets beginning balance | 12,986 | |
Goodwill and intangible assets ending balance | 5,590 | 12,986 |
Goodwill | Gross amount | ||
Reconciliation of changes in intangible assets and goodwill [abstract] | ||
Goodwill and intangible assets beginning balance | 22,180 | 22,902 |
Exchange differences | (154) | (617) |
Other | 58 | (105) |
Goodwill and intangible assets ending balance | 22,084 | 22,180 |
Goodwill | Accumulated impairment losses | ||
Reconciliation of changes in intangible assets and goodwill [abstract] | ||
Goodwill and intangible assets beginning balance | (9,194) | (9,314) |
Exchange differences | 49 | 120 |
Impairment losses | (7,349) | 0 |
Goodwill and intangible assets ending balance | $ (16,494) | $ (9,194) |
Goodwill and intangible asset_4
Goodwill and intangible assets - Impairment testing (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of impairment loss recognised or reversed for cash-generating unit [line items] | |||
of which goodwill | $ 20,163 | $ 24,357 | |
Impairment | 7,349 | 0 | $ 0 |
Goodwill | |||
Disclosure of impairment loss recognised or reversed for cash-generating unit [line items] | |||
of which goodwill | 5,590 | $ 12,986 | |
Impairment | 7,300 | ||
GB&M | Goodwill | |||
Disclosure of impairment loss recognised or reversed for cash-generating unit [line items] | |||
Carrying amount | 60,700 | ||
of which goodwill | 4,000 | ||
Value in use | 55,800 | ||
Impairment | $ 4,000 | ||
Discount rate | 9.50% | ||
Growth rate beyond initial cash flow projections | 2.00% | ||
Europe | CMB | Goodwill | |||
Disclosure of impairment loss recognised or reversed for cash-generating unit [line items] | |||
Carrying amount | $ 20,000 | ||
of which goodwill | 2,500 | ||
Value in use | 17,500 | ||
Impairment | $ 2,500 | ||
Discount rate | 9.50% | ||
Growth rate beyond initial cash flow projections | 1.80% | ||
North America | GPB | Goodwill | |||
Disclosure of impairment loss recognised or reversed for cash-generating unit [line items] | |||
Carrying amount | $ 900 | ||
of which goodwill | 400 | ||
Value in use | 500 | ||
Impairment | $ 400 | ||
Discount rate | 9.50% | ||
Growth rate beyond initial cash flow projections | 2.10% | ||
Latin America | CMB | Goodwill | |||
Disclosure of impairment loss recognised or reversed for cash-generating unit [line items] | |||
Carrying amount | $ 1,300 | ||
of which goodwill | 300 | ||
Value in use | 1,000 | ||
Impairment | $ 300 | ||
Discount rate | 17.00% | ||
Growth rate beyond initial cash flow projections | 3.60% | ||
Middle East and North Africa | CMB | Goodwill | |||
Disclosure of impairment loss recognised or reversed for cash-generating unit [line items] | |||
Carrying amount | $ 2,600 | ||
of which goodwill | 100 | ||
Value in use | 1,500 | ||
Impairment | $ 100 | ||
Discount rate | 13.30% | ||
Growth rate beyond initial cash flow projections | 2.40% |
Goodwill and intangible asset_5
Goodwill and intangible assets - Key assumptions in VIU calculation (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Jul. 01, 2019 | Dec. 31, 2018 | Jul. 01, 2018 |
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||||
Goodwill and intangible assets | $ 20,163 | $ 24,357 | ||
Goodwill | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||||
Goodwill and intangible assets | 5,590 | $ 12,986 | ||
Europe | RBWM | Goodwill | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||||
Goodwill and intangible assets | $ 3,464 | $ 3,496 | $ 3,565 | |
Discount rate | 8.30% | 8.30% | 8.10% | |
Nominal growth rate beyond initial cash flow projections | 1.70% | 3.20% | 3.80% |
Goodwill and intangible asset_6
Goodwill and intangible assets - Impairment testing (commentary) (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Jul. 01, 2019 | Dec. 31, 2018 | Jul. 01, 2018 |
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||||
Goodwill and intangible assets | $ 20,163 | $ 24,357 | ||
Goodwill | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||||
Goodwill and intangible assets | 5,590 | $ 12,986 | ||
Aggregate cash-generating units for which amount of goodwill or intangible assets with indefinite useful lives is not significant | Goodwill | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||||
Goodwill and intangible assets | $ 2,126 | $ 2,938 | $ 3,061 |
Goodwill and intangible asset_7
Goodwill and intangible assets - Sensitivity of VIU to reasonably possible changes in key assumptions and changes to current assumptions to achieve nil headroom (Details) $ in Billions | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Disclosure of information for cash-generating units [line items] | |
Discount rate increases by 100 bps | 1.00% |
Cash flow projections decrease by 30% | 30.00% |
Goodwill | Europe | RBWM | |
Disclosure of information for cash-generating units [line items] | |
Carrying amount | $ 10.1 |
VIU | 16.7 |
100 bps increase in the discount rate – single variable | (2.3) |
30% decrease in cash flow projections – single variable | (5.6) |
Cumulative impact of all changes | $ (7.1) |
Discount rate – bps | 397.00% |
Cash flows – % | (39.40%) |
Goodwill and intangible asset_8
Goodwill and intangible assets - Movements in present value in-force long-term insurance contracts (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Jan. 01, 2018 | |
Reconciliation of changes in intangible assets and goodwill [abstract] | |||
Goodwill and intangible assets beginning balance | $ 24,357 | ||
Goodwill and intangible assets ending balance | 20,163 | $ 24,357 | |
Present value of in-force long-term insurance business | |||
Reconciliation of changes in intangible assets and goodwill [abstract] | |||
Goodwill and intangible assets beginning balance | 7,149 | 6,610 | |
Impact on transition to IFRS 9 | $ (78) | ||
Change in PVIF of long-term insurance business | 1,749 | 673 | |
– value of new business written during the year | 1,225 | 1,117 | |
– expected return | (836) | (719) | |
– assumption changes and experience variances | 1,378 | 292 | |
– other adjustments | (18) | (17) | |
Exchange differences and other movements | 47 | (56) | |
Goodwill and intangible assets ending balance | $ 8,945 | $ 7,149 |
Goodwill and intangible asset_9
Goodwill and intangible assets - Assumption changes and experience adjustments (Details) - Present value of in-force long-term insurance business - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of detailed information about intangible assets [line items] | ||
Regulatory-driven changes | $ 1,126 | $ (56) |
Future sharing of returns with policyholders on contracts with discretionary features | 36 | 455 |
Other changes | $ 216 | $ (107) |
Goodwill and intangible asse_10
Goodwill and intangible assets - Key assumptions used in the computation of present value in-force long term insurance contracts (Details) - Present value of in-force long-term insurance business - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Hong Kong | ||
Disclosure of detailed information about intangible assets [line items] | ||
Weighted average risk-free rate | 1.84% | 2.29% |
Weighted average risk discount rate | 5.44% | 5.90% |
Expense inflation | 3.00% | 3.00% |
France | ||
Disclosure of detailed information about intangible assets [line items] | ||
Weighted average risk-free rate | 0.44% | 1.52% |
Weighted average risk discount rate | 1.27% | 2.35% |
Expense inflation | 1.70% | 1.70% |
Risk discount rate | 1.27% | 2.35% |
Risk margin | $ 130 | $ 109 |
Prepayments, accrued income a_3
Prepayments, accrued income and other assets (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Subclassifications of assets, liabilities and equities [abstract] | ||
Prepayments and accrued income | $ 9,057 | $ 8,715 |
Settlement accounts | 14,744 | 13,957 |
Cash collateral and margin receivables | 49,148 | 33,202 |
Assets held for sale | 123 | 735 |
Bullion | 14,830 | 13,753 |
Endorsements and acceptances | 10,198 | 9,623 |
Reinsurers’ share of liabilities under insurance contracts (Note 4) | 3,592 | 2,506 |
Employee benefit assets (Note 5) | 8,280 | 7,934 |
Right-of-use assets | 4,222 | |
Owned property, plant and equipment | 10,480 | 10,060 |
Other accounts | 12,006 | 10,086 |
Prepayments, accrued income and other assets | 136,680 | 110,571 |
Disclosure of financial assets [line items] | ||
Financial assets at amortised cost | 436,959 | 404,111 |
Prepayments, accrued income and other assets | ||
Disclosure of financial assets [line items] | ||
Financial assets at amortised cost | $ 92,979 | $ 74,151 |
Trading liabilities - Summary
Trading liabilities - Summary of trading liabilities (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of financial liabilities [line items] | ||
Financial liabilities | $ 2,409,361 | $ 2,260,288 |
Trading liabilities | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 83,170 | 84,431 |
Deposits by banks | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 59,022 | 56,331 |
Deposits by banks | Trading liabilities | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 4,187 | 4,871 |
Customer accounts | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 1,439,115 | 1,362,643 |
Customer accounts | Trading liabilities | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 6,999 | 8,614 |
Debt securities in issue | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 236,323 | 196,093 |
Debt securities in issue | Trading liabilities | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 1,404 | 1,400 |
Other liabilities – net short positions in securities | Trading liabilities | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | $ 70,580 | $ 69,546 |
Financial liabilties designat_3
Financial liabilties designated at fair value - Summary of Financial Liabilities at Fair Value (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of financial liabilities [line items] | ||
Financial liabilities | $ 2,409,361 | $ 2,260,288 |
Financial liabilities designated at fair value | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 164,466 | 148,505 |
Deposits by banks and customer accounts | Financial liabilities designated at fair value | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 17,660 | 19,003 |
Liabilities to customers under investment contracts | Financial liabilities designated at fair value | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 5,893 | 5,458 |
Debt securities in issue | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 236,323 | 196,093 |
Debt securities in issue | Financial liabilities designated at fair value | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 130,364 | 109,351 |
Subordinated liabilities | Financial liabilities designated at fair value | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 10,130 | 14,282 |
Preferred securities | Financial liabilities designated at fair value | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 419 | 411 |
HSBC Holdings | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 109,870 | 97,614 |
HSBC Holdings | Financial liabilities designated at fair value | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 30,303 | 25,049 |
HSBC Holdings | Debt securities in issue | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 81,531 | 68,567 |
HSBC Holdings | Debt securities in issue | Financial liabilities designated at fair value | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 24,687 | 17,767 |
HSBC Holdings | Subordinated liabilities | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 23,977 | 24,997 |
HSBC Holdings | Subordinated liabilities | Financial liabilities designated at fair value | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | $ 5,616 | $ 7,282 |
Financial liabilties designat_4
Financial liabilties designated at fair value - Narrative (Details) - Financial liabilities designated at fair value - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of financial liabilities [line items] | ||
Difference between carrying amount of financial liability and amount contractually required to pay at maturity to holder of obligation | $ 6,120 | $ (11,496) |
Accumulated increase (decrease) in fair value of financial liability, attributable to changes in credit risk of liability | 2,877 | 209 |
HSBC Holdings | ||
Disclosure of financial liabilities [line items] | ||
Difference between carrying amount of financial liability and amount contractually required to pay at maturity to holder of obligation | 2,227 | 920 |
Accumulated increase (decrease) in fair value of financial liability, attributable to changes in credit risk of liability | $ 1,386 | $ 812 |
Debt securities in issue - Sum
Debt securities in issue - Summary of debt securities in issue (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities | $ 2,409,361 | $ 2,260,288 |
Trading liabilities | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities | 83,170 | 84,431 |
Financial liabilities designated at fair value | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities | 164,466 | 148,505 |
Debt securities | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities | 236,323 | 196,093 |
Debt securities | Trading liabilities | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities | 1,404 | 1,400 |
Debt securities | Financial liabilities designated at fair value | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities | 130,364 | 109,351 |
Debt securities | At cost | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities | 104,555 | 85,342 |
Bonds and medium-term notes | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities | 180,969 | 162,277 |
Other debt securities in issue | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities | 55,354 | 33,816 |
HSBC Holdings | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities | 109,870 | 97,614 |
HSBC Holdings | Financial liabilities designated at fair value | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities | 30,303 | 25,049 |
HSBC Holdings | Debt securities | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities | 81,531 | 68,567 |
HSBC Holdings | Debt securities | Financial liabilities designated at fair value | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities | 24,687 | 17,767 |
HSBC Holdings | Debt securities | At cost | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities | $ 56,844 | $ 50,800 |
Accruals, deferred income and_3
Accruals, deferred income and other liabilities (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Subclassifications of assets, liabilities and equities [abstract] | ||
Accruals and deferred income | $ 11,808 | $ 11,296 |
Settlement accounts | 14,356 | 13,022 |
Cash collateral and margin payables | 56,646 | 41,044 |
Endorsements and acceptances | 10,127 | 9,633 |
Employee benefit liabilities (Note 5) | 1,771 | 2,167 |
Lease liabilities | 4,604 | |
Other liabilities | 18,844 | 20,218 |
Total accruals, deferred income and other liabilities | 118,156 | 97,380 |
Financial liabilities at amortised cost | $ 111,395 | $ 87,390 |
Provisions - Rollforward of pro
Provisions - Rollforward of provisions (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Reconciliation of changes in other provisions [abstract] | ||
Other provisions, beginning balance | $ 2,920 | $ 4,011 |
Other provisions, ending balance | 3,398 | 2,920 |
Provisions (excluding contractual commitments) | ||
Reconciliation of changes in other provisions [abstract] | ||
Other provisions, beginning balance | 2,403 | 3,758 |
Additions | 2,581 | 1,725 |
Amounts utilised | (1,781) | (2,394) |
Unused amounts reversed | (349) | (607) |
Exchange and other movements | 33 | (79) |
Other provisions, ending balance | 2,887 | 2,403 |
Restructuring costs | ||
Reconciliation of changes in other provisions [abstract] | ||
Other provisions, beginning balance | 130 | 334 |
Additions | 402 | 73 |
Amounts utilised | (203) | (158) |
Unused amounts reversed | (34) | (107) |
Exchange and other movements | 61 | (12) |
Other provisions, ending balance | 356 | 130 |
Legal proceedings and regulatory matters | ||
Reconciliation of changes in other provisions [abstract] | ||
Other provisions, beginning balance | 1,128 | 1,501 |
Additions | 282 | 1,132 |
Amounts utilised | (660) | (1,255) |
Unused amounts reversed | (158) | (279) |
Exchange and other movements | 13 | 29 |
Other provisions, ending balance | 605 | 1,128 |
Customer remediation | ||
Reconciliation of changes in other provisions [abstract] | ||
Other provisions, beginning balance | 788 | 1,454 |
Additions | 1,674 | 288 |
Amounts utilised | (837) | (838) |
Unused amounts reversed | (49) | (90) |
Exchange and other movements | 70 | (26) |
Other provisions, ending balance | 1,646 | 788 |
Other provisions | ||
Reconciliation of changes in other provisions [abstract] | ||
Other provisions, beginning balance | 357 | 469 |
Additions | 223 | 232 |
Amounts utilised | (81) | (143) |
Unused amounts reversed | (108) | (131) |
Exchange and other movements | (111) | (70) |
Other provisions, ending balance | 280 | 357 |
Contractual commitments | ||
Reconciliation of changes in other provisions [abstract] | ||
Other provisions, beginning balance | 517 | 537 |
Net change in expected credit loss provision and other movements | (6) | (20) |
Other provisions, ending balance | $ 511 | $ 517 |
Provisions - Payment protection
Provisions - Payment protection insurance (Details) claim in Thousands, policy in Millions, $ in Millions | 12 Months Ended | 240 Months Ended | ||
Dec. 31, 2019USD ($)policyclaim | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2019USD ($)policyclaim | |
Disclosure of other provisions [line items] | ||||
Other provisions | $ 3,398 | $ 2,920 | $ 4,011 | $ 3,398 |
Net insurance premium income | $ 10,636 | 10,659 | $ 9,779 | |
Payment Protection Insurance | ||||
Disclosure of other provisions [line items] | ||||
Number of policies, customer contacted | policy | 3 | 3 | ||
Policies with customer contacted, as a percent of policies sold | 56.00% | 56.00% | ||
Number of policies sold | policy | 5.4 | |||
Net insurance premium income | $ 3,400 | |||
Gross written premiums | $ 4,500 | |||
Number of expected claims to be settled in the future | claim | 45 | 45 | ||
Insurance Provision | ||||
Disclosure of other provisions [line items] | ||||
Other provisions | $ 1,100 | $ 555 | $ 1,100 | |
Payments for other provisions | 750 | |||
Net change in expected credit loss provision and other movements | $ 1,200 | |||
Liability calculation, annual basis spread on simple interest rate | 8.00% |
Provisions - Cumulative payment
Provisions - Cumulative payment protection insurance complains received (Details) - Payment Protection Insurance request in Thousands, claim in Thousands | Dec. 31, 2019USD ($)claimrequest |
Disclosure of other provisions [line items] | |
Information requests received during autoconversion period (000s) | request | 1,889 |
Information requests awaiting evaluation (000s) | request | 234 |
Remaining autoconverted claims anticipated to be worked (000s) | 167 |
Remaining reactive claims anticipated to be worked (000s) | 44 |
Total remaining claims anticipated to be worked (000s) | 211 |
Average uphold rate per claim | 86.00% |
Average redress per claim ($) | $ | $ 3,226 |
Provisions - Sensitivity to key
Provisions - Sensitivity to key assumptions (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2019USD ($)claim | |
Other Provisions, Contingent Liabilities And Contingent Assets [Abstract] | |
Reasonably possible increase in uphold rate for complaints yet to be worked | 10.00% |
Reasonably possible decrease in uphold rate for complaints yet to be worked | 10.00% |
Increase (decrease) in redress provision due to reasonably possible increase in uphold rate for complaints yet to be worked | $ 40 |
Reasonably possible increase in average redress for complaints yet to be worked | 10.00% |
Reasonably possible decrease in average redress for complaints yet to be worked | 10.00% |
Increase (decrease) in redress provision due to reasonably possible increase in average redress for complaints yet to be worked | $ 56 |
Reasonably possible increase in number of settled claims | claim | 10,000 |
Reasonably possible decrease in number of settled claims | claim | 10,000 |
Increase (decrease) in redress provision due to reasonably possible increase in settled claim volumes | $ 29 |
Subordinated liabilities - HSBC
Subordinated liabilities - HSBC's subordinated liabilities (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of financial liabilities [line items] | ||
Financial liabilities | $ 2,409,361 | $ 2,260,288 |
HSBC Holdings | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 109,870 | 97,614 |
Subordinated liabilities | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 35,149 | 37,130 |
Subordinated liabilities | HSBC Subsidiaries | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 12,363 | 13,168 |
Subordinated liabilities | HSBC Holdings | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 22,786 | 23,962 |
Subordinated liabilities | HSBC Holdings | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 23,977 | 24,997 |
At amortised cost | Subordinated liabilities | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 24,600 | 22,437 |
At amortised cost | Subordinated liabilities | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 22,775 | 20,651 |
At amortised cost | Subordinated liabilities | HSBC Holdings | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 18,361 | 17,715 |
At amortised cost | Preferred securities | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 1,825 | 1,786 |
Financial liabilities designated at fair value | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 164,466 | 148,505 |
Financial liabilities designated at fair value | HSBC Holdings | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 30,303 | 25,049 |
Financial liabilities designated at fair value | Subordinated liabilities | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 10,549 | 14,693 |
Financial liabilities designated at fair value | Subordinated liabilities | HSBC Holdings | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 5,616 | 7,282 |
Financial liabilities designated at fair value | Subordinated liabilities | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 10,130 | 14,282 |
Financial liabilities designated at fair value | Subordinated liabilities | HSBC Holdings | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 5,616 | 7,282 |
Financial liabilities designated at fair value | Preferred securities | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | $ 419 | $ 411 |
Subordinated liabilities - HS_2
Subordinated liabilities - HSBC's subordinated liabilities (commentary) (Details) | Dec. 31, 2019 |
Preferred securities | |
Disclosure of financial liabilities [line items] | |
Preferred securities maximum rate | 10.176% |
Subordinated liabilities - HS_3
Subordinated liabilities - HSBC's subsidiaries subordinated liabilities in issue (Details) | Dec. 31, 2019USD ($) | Dec. 31, 2019GBP (£) | Dec. 31, 2019MYR (RM) | Oct. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) |
Disclosure of financial liabilities [line items] | ||||||
Financial liabilities | $ 2,409,361,000,000 | $ 2,260,288,000,000 | ||||
Subordinated liabilities | ||||||
Disclosure of financial liabilities [line items] | ||||||
Financial liabilities | 35,149,000,000 | 37,130,000,000 | ||||
HSBC Subsidiaries | Subordinated liabilities | ||||||
Disclosure of financial liabilities [line items] | ||||||
Financial liabilities | 12,363,000,000 | 13,168,000,000 | ||||
HSBC Holdings | ||||||
Disclosure of financial liabilities [line items] | ||||||
Financial liabilities | 109,870,000,000 | 97,614,000,000 | ||||
HSBC Holdings | Subordinated liabilities | ||||||
Disclosure of financial liabilities [line items] | ||||||
Financial liabilities | 22,786,000,000 | 23,962,000,000 | ||||
HSBC Holdings | Subordinated liabilities | ||||||
Disclosure of financial liabilities [line items] | ||||||
Financial liabilities | 23,977,000,000 | 24,997,000,000 | ||||
Non-convertible Subordinated Obligations | HSBC Holdings | Subordinated liabilities | ||||||
Disclosure of financial liabilities [line items] | ||||||
Financial liabilities | 60,000,000 | |||||
Guaranteed By HSBC Holdings | HSBC Subsidiaries | Preferred securities | ||||||
Disclosure of financial liabilities [line items] | ||||||
Financial liabilities | 900,000,000 | 892,000,000 | ||||
Guaranteed By HSBC Holdings | 10.176% non-cumulative step-up perpetual preferred securities, series 2 | HSBC Subsidiaries | Preferred securities | ||||||
Disclosure of financial liabilities [line items] | ||||||
Notional amount | $ 900,000,000 | |||||
Preferred securities rate | 10.176% | 10.176% | 10.176% | |||
Financial liabilities | $ 900,000,000 | 892,000,000 | ||||
Guaranteed By HSBC Bank plc | HSBC Subsidiaries | Preferred securities | ||||||
Disclosure of financial liabilities [line items] | ||||||
Financial liabilities | $ 1,345,000,000 | 1,305,000,000 | ||||
Guaranteed By HSBC Bank plc | 5.862% non-cumulative step-up perpetual preferred securities | HSBC Subsidiaries | Preferred securities | ||||||
Disclosure of financial liabilities [line items] | ||||||
Notional amount | £ | £ 300,000,000 | |||||
Preferred securities rate | 5.862% | 5.862% | 5.862% | |||
Financial liabilities | $ 420,000,000 | 411,000,000 | ||||
Guaranteed By HSBC Bank plc | 5.844% non-cumulative step-up perpetual preferred securities | HSBC Subsidiaries | Preferred securities | ||||||
Disclosure of financial liabilities [line items] | ||||||
Notional amount | £ | £ 700,000,000 | |||||
Preferred securities rate | 5.844% | 5.844% | 5.844% | |||
Financial liabilities | $ 925,000,000 | 894,000,000 | ||||
HSBC Bank plc | HSBC Subsidiaries | Subordinated liabilities | ||||||
Disclosure of financial liabilities [line items] | ||||||
Financial liabilities | 4,751,000,000 | 4,546,000,000 | ||||
HSBC Bank plc | Undated Floating Rate Primary Capital Notes and 7.65% Subordinated Notes | HSBC Subsidiaries | Subordinated liabilities | ||||||
Disclosure of financial liabilities [line items] | ||||||
Financial liabilities | 1,850,000,000 | 1,850,000,000 | ||||
HSBC Bank plc | $750m Undated Floating Rate Primary Capital Notes | HSBC Subsidiaries | Subordinated liabilities | ||||||
Disclosure of financial liabilities [line items] | ||||||
Notional amount | 750,000,000 | |||||
Financial liabilities | 750,000,000 | 750,000,000 | ||||
HSBC Bank plc | $500m Undated Floating Rate Primary Capital Notes | HSBC Subsidiaries | Subordinated liabilities | ||||||
Disclosure of financial liabilities [line items] | ||||||
Notional amount | 500,000,000 | |||||
Financial liabilities | 500,000,000 | 500,000,000 | ||||
HSBC Bank plc | $300m Undated Floating Rate Primary Capital Notes, Series 3 | HSBC Subsidiaries | Subordinated liabilities | ||||||
Disclosure of financial liabilities [line items] | ||||||
Notional amount | 300,000,000 | |||||
Financial liabilities | 300,000,000 | 300,000,000 | ||||
HSBC Bank plc | 7.65% subordinated notes | HSBC Subsidiaries | Subordinated liabilities | ||||||
Disclosure of financial liabilities [line items] | ||||||
Notional amount | $ 300,000,000 | |||||
Borrowings interest rate | 7.65% | 7.65% | 7.65% | |||
Financial liabilities | $ 300,000,000 | 300,000,000 | ||||
HSBC Bank plc | 6.50% subordinated notes | HSBC Subsidiaries | Subordinated liabilities | ||||||
Disclosure of financial liabilities [line items] | ||||||
Notional amount | £ | £ 300,000,000 | |||||
Borrowings interest rate | 6.50% | 6.50% | 6.50% | |||
Financial liabilities | $ 396,000,000 | 382,000,000 | ||||
HSBC Bank plc | 5.375% callable subordinated step-up notes | HSBC Subsidiaries | Subordinated liabilities | ||||||
Disclosure of financial liabilities [line items] | ||||||
Notional amount | £ | £ 350,000,000 | |||||
Borrowings interest rate | 5.375% | 5.375% | 5.375% | |||
Financial liabilities | $ 549,000,000 | 513,000,000 | ||||
HSBC Bank plc | 5.375% subordinated notes | HSBC Subsidiaries | Subordinated liabilities | ||||||
Disclosure of financial liabilities [line items] | ||||||
Notional amount | £ | £ 500,000,000 | |||||
Borrowings interest rate | 5.375% | 5.375% | 5.375% | |||
Financial liabilities | $ 875,000,000 | 757,000,000 | ||||
HSBC Bank plc | 6.25% subordinated notes | HSBC Subsidiaries | Subordinated liabilities | ||||||
Disclosure of financial liabilities [line items] | ||||||
Notional amount | £ | £ 225,000,000 | |||||
Borrowings interest rate | 6.25% | 6.25% | 6.25% | |||
Financial liabilities | $ 296,000,000 | 286,000,000 | ||||
HSBC Bank plc | 4.75% subordinated notes | HSBC Subsidiaries | Subordinated liabilities | ||||||
Disclosure of financial liabilities [line items] | ||||||
Notional amount | £ | £ 600,000,000 | |||||
Borrowings interest rate | 4.75% | 4.75% | 4.75% | |||
Financial liabilities | $ 785,000,000 | 758,000,000 | ||||
The Hongkong and Shanghai Banking Corporation Limited | HSBC Subsidiaries | Subordinated liabilities | ||||||
Disclosure of financial liabilities [line items] | ||||||
Financial liabilities | 400,000,000 | 400,000,000 | ||||
The Hongkong and Shanghai Banking Corporation Limited | Primary capital undated floating rate notes (third series) | HSBC Subsidiaries | Subordinated liabilities | ||||||
Disclosure of financial liabilities [line items] | ||||||
Notional amount | 400,000,000 | |||||
Financial liabilities | 400,000,000 | 400,000,000 | ||||
HSBC Bank Malaysia Berhad | HSBC Subsidiaries | Subordinated liabilities | ||||||
Disclosure of financial liabilities [line items] | ||||||
Financial liabilities | $ 122,000,000 | 121,000,000 | ||||
HSBC Bank Malaysia Berhad | 5.05% subordinated bonds | HSBC Subsidiaries | Subordinated liabilities | ||||||
Disclosure of financial liabilities [line items] | ||||||
Notional amount | RM | RM 500,000,000 | |||||
Borrowings interest rate | 5.05% | 5.05% | 5.05% | |||
Financial liabilities | $ 122,000,000 | 121,000,000 | ||||
HSBC Securities (USA) Inc. | HSBC Subsidiaries | Subordinated liabilities | ||||||
Disclosure of financial liabilities [line items] | ||||||
Financial liabilities | 1,171,000,000 | 1,237,000,000 | ||||
HSBC Securities (USA) Inc. | 5.00% subordinated notes | HSBC Subsidiaries | Subordinated liabilities | ||||||
Disclosure of financial liabilities [line items] | ||||||
Notional amount | $ 750,000,000 | |||||
Borrowings interest rate | 5.00% | 5.00% | 5.00% | |||
Financial liabilities | $ 748,000,000 | 747,000,000 | ||||
HSBC Securities (USA) Inc. | 7.20% subordinated debentures | HSBC Subsidiaries | Subordinated liabilities | ||||||
Disclosure of financial liabilities [line items] | ||||||
Notional amount | $ 250,000,000 | |||||
Borrowings interest rate | 7.20% | 7.20% | 7.20% | |||
Financial liabilities | $ 221,000,000 | 221,000,000 | ||||
HSBC Securities (USA) Inc. | Other subordinated liabilities each less than $150m | HSBC Subsidiaries | Subordinated liabilities | ||||||
Disclosure of financial liabilities [line items] | ||||||
Financial liabilities | 202,000,000 | 269,000,000 | ||||
HSBC Bank USA, N.A. | HSBC Subsidiaries | Subordinated liabilities | ||||||
Disclosure of financial liabilities [line items] | ||||||
Financial liabilities | 2,905,000,000 | 3,858,000,000 | ||||
HSBC Bank USA, N.A. | 4.875% subordinated notes | HSBC Subsidiaries | Subordinated liabilities | ||||||
Disclosure of financial liabilities [line items] | ||||||
Notional amount | $ 1,250,000,000 | |||||
Borrowings interest rate | 4.875% | 4.875% | 4.875% | |||
Financial liabilities | $ 1,246,000,000 | 1,226,000,000 | ||||
HSBC Bank USA, N.A. | 5.875% subordinated notes | HSBC Subsidiaries | Subordinated liabilities | ||||||
Disclosure of financial liabilities [line items] | ||||||
Notional amount | $ 358,000,000 | $ 1,000,000,000 | ||||
Borrowings interest rate | 5.875% | 5.875% | 5.875% | |||
Financial liabilities | $ 463,000,000 | 1,106,000,000 | ||||
HSBC Bank USA, N.A. | 5.625% subordinated notes | HSBC Subsidiaries | Subordinated liabilities | ||||||
Disclosure of financial liabilities [line items] | ||||||
Notional amount | $ 383,000,000 | $ 750,000,000 | ||||
Borrowings interest rate | 5.625% | 5.625% | 5.625% | |||
Financial liabilities | $ 496,000,000 | 829,000,000 | ||||
HSBC Bank USA, N.A. | 7.00% subordinated notes | HSBC Subsidiaries | Subordinated liabilities | ||||||
Disclosure of financial liabilities [line items] | ||||||
Notional amount | $ 700,000,000 | |||||
Borrowings interest rate | 7.00% | 7.00% | 7.00% | |||
Financial liabilities | $ 700,000,000 | 697,000,000 | ||||
HSBC Finance Corporation | 6.676% senior subordinated notes | HSBC Subsidiaries | Subordinated liabilities | ||||||
Disclosure of financial liabilities [line items] | ||||||
Notional amount | $ 507,000,000 | $ 2,939,000,000 | ||||
Borrowings interest rate | 6.676% | 6.676% | 6.676% | |||
Financial liabilities | $ 507,000,000 | 507,000,000 | ||||
HSBC Bank Canada | HSBC Subsidiaries | Subordinated liabilities | ||||||
Disclosure of financial liabilities [line items] | ||||||
Financial liabilities | 26,000,000 | 29,000,000 | ||||
HSBC Bank Canada | Other subordinated liabilities each less than $150m | HSBC Subsidiaries | Subordinated liabilities | ||||||
Disclosure of financial liabilities [line items] | ||||||
Financial liabilities | 26,000,000 | 29,000,000 | ||||
Other HSBC Subsidiaries | Other subordinated liabilities each less than $200m | HSBC Subsidiaries | Subordinated liabilities | ||||||
Disclosure of financial liabilities [line items] | ||||||
Financial liabilities | $ 236,000,000 | $ 273,000,000 | ||||
Three Month London Interbank Offered Rate LIBOR | HSBC Bank plc | 5.375% callable subordinated step-up notes | HSBC Subsidiaries | Subordinated liabilities | ||||||
Disclosure of financial liabilities [line items] | ||||||
Borrowings, adjustment to interest rate basis | 1.50% | 1.50% | 1.50% |
Subordinated liabilities - HS_4
Subordinated liabilities - HSBC Holdings subordinated liabilities (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of financial liabilities [line items] | ||
Financial liabilities | $ 2,409,361 | $ 2,260,288 |
HSBC Holdings | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 109,870 | 97,614 |
HSBC Holdings | Subordinated liabilities | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 23,977 | 24,997 |
At amortised cost | Subordinated liabilities | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 22,775 | 20,651 |
At amortised cost | HSBC Holdings | Subordinated liabilities | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 18,361 | 17,715 |
Financial liabilities designated at fair value | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 164,466 | 148,505 |
Financial liabilities designated at fair value | Subordinated liabilities | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 10,130 | 14,282 |
Financial liabilities designated at fair value | HSBC Holdings | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 30,303 | 25,049 |
Financial liabilities designated at fair value | HSBC Holdings | Subordinated liabilities | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | $ 5,616 | $ 7,282 |
Subordinated liabilities - HS_5
Subordinated liabilities - HSBC Holdings' subordinated liabilities in issue (Details) | Dec. 31, 2019USD ($) | Dec. 31, 2019GBP (£) | Dec. 31, 2019EUR (€) | Dec. 31, 2018USD ($) | Dec. 31, 2018EUR (€) |
Disclosure of financial liabilities [line items] | |||||
Financial liabilities | $ 2,409,361,000,000 | $ 2,260,288,000,000 | |||
HSBC Holdings | |||||
Disclosure of financial liabilities [line items] | |||||
Financial liabilities | 109,870,000,000 | 97,614,000,000 | |||
HSBC Holdings | Subordinated liabilities | |||||
Disclosure of financial liabilities [line items] | |||||
Financial liabilities | 23,977,000,000 | 24,997,000,000 | |||
Borrowings Issued To Third Parties, Tier 2 Securities | HSBC Holdings | Subordinated liabilities | |||||
Disclosure of financial liabilities [line items] | |||||
Financial liabilities | 21,582,000,000 | 24,105,000,000 | |||
4.25% Subordinated Notes Due March 2024 | HSBC Holdings | Subordinated liabilities | |||||
Disclosure of financial liabilities [line items] | |||||
Notional amount | $ 2,000,000,000 | ||||
Borrowings interest rate | 4.25% | 4.25% | 4.25% | ||
Financial liabilities | $ 2,076,000,000 | 2,001,000,000 | |||
4.25% Subordinated Notes Due August 2025 | HSBC Holdings | Subordinated liabilities | |||||
Disclosure of financial liabilities [line items] | |||||
Notional amount | $ 1,500,000,000 | ||||
Borrowings interest rate | 4.25% | 4.25% | 4.25% | ||
Financial liabilities | $ 1,611,000,000 | 1,494,000,000 | |||
4.375% Subordinated Notes Due Nov 2026 | HSBC Holdings | Subordinated liabilities | |||||
Disclosure of financial liabilities [line items] | |||||
Notional amount | $ 1,500,000,000 | ||||
Borrowings interest rate | 4.375% | 4.375% | 4.375% | ||
Financial liabilities | $ 1,626,000,000 | 1,470,000,000 | |||
7.625% Subordinated Notes Due May 2032 | HSBC Holdings | Subordinated liabilities | |||||
Disclosure of financial liabilities [line items] | |||||
Notional amount | $ 488,000,000 | ||||
Borrowings interest rate | 7.625% | 7.625% | 7.625% | ||
Financial liabilities | $ 545,000,000 | 549,000,000 | |||
7.35% Subordinated Notes Due November 2032 | HSBC Holdings | Subordinated liabilities | |||||
Disclosure of financial liabilities [line items] | |||||
Notional amount | $ 222,000,000 | ||||
Borrowings interest rate | 7.35% | 7.35% | 7.35% | ||
Financial liabilities | $ 245,000,000 | 246,000,000 | |||
6.5% Subordinated Notes Due May 2036 | HSBC Holdings | Subordinated liabilities | |||||
Disclosure of financial liabilities [line items] | |||||
Notional amount | $ 2,000,000,000 | ||||
Borrowings interest rate | 6.50% | 6.50% | 6.50% | ||
Financial liabilities | $ 2,036,000,000 | 2,040,000,000 | |||
6.5% Subordinated Notes Due September 2037 | HSBC Holdings | Subordinated liabilities | |||||
Disclosure of financial liabilities [line items] | |||||
Notional amount | $ 2,500,000,000 | ||||
Borrowings interest rate | 6.50% | 6.50% | 6.50% | ||
Financial liabilities | $ 2,738,000,000 | 2,419,000,000 | |||
6.8% Subordinated Notes Due June 2038 | HSBC Holdings | Subordinated liabilities | |||||
Disclosure of financial liabilities [line items] | |||||
Notional amount | $ 1,500,000,000 | ||||
Borrowings interest rate | 6.80% | 6.80% | 6.80% | ||
Financial liabilities | $ 1,490,000,000 | 1,489,000,000 | |||
5.25% Subordinated Notes Due March 2044 | HSBC Holdings | Subordinated liabilities | |||||
Disclosure of financial liabilities [line items] | |||||
Notional amount | $ 1,500,000,000 | ||||
Borrowings interest rate | 5.25% | 5.25% | 5.25% | ||
Financial liabilities | $ 1,886,000,000 | 1,661,000,000 | |||
5.75% Subordinated Notes Due December 2027 | HSBC Holdings | Subordinated liabilities | |||||
Disclosure of financial liabilities [line items] | |||||
Notional amount | £ | £ 650,000,000 | ||||
Borrowings interest rate | 5.75% | 5.75% | 5.75% | ||
Financial liabilities | $ 1,059,000,000 | 960,000,000 | |||
6.75% Subordinated Notes Due September 2028 | HSBC Holdings | Subordinated liabilities | |||||
Disclosure of financial liabilities [line items] | |||||
Notional amount | £ | £ 650,000,000 | ||||
Borrowings interest rate | 6.75% | 6.75% | 6.75% | ||
Financial liabilities | $ 855,000,000 | 826,000,000 | |||
7.0% Subordinated Notes Due April 2038 | HSBC Holdings | Subordinated liabilities | |||||
Disclosure of financial liabilities [line items] | |||||
Notional amount | £ | £ 750,000,000 | ||||
Borrowings interest rate | 7.00% | 7.00% | 7.00% | ||
Financial liabilities | $ 1,064,000,000 | 992,000,000 | |||
6.0% Subordinated Notes Due March 2040 | HSBC Holdings | Subordinated liabilities | |||||
Disclosure of financial liabilities [line items] | |||||
Notional amount | £ | £ 900,000,000 | ||||
Borrowings interest rate | 6.00% | 6.00% | 6.00% | ||
Financial liabilities | $ 1,294,000,000 | $ 1,156,000,000 | |||
6.0% Subordinated Notes Due June 2019 | HSBC Holdings | Subordinated liabilities | |||||
Disclosure of financial liabilities [line items] | |||||
Notional amount | € | € 1,750,000,000 | ||||
Borrowings interest rate | 6.00% | 6.00% | |||
Financial liabilities | $ 0 | $ 2,125,000,000 | |||
3.375% Subordinated Notes Due January 2024 | HSBC Holdings | Subordinated liabilities | |||||
Disclosure of financial liabilities [line items] | |||||
Notional amount | € | € 1,500,000,000 | ||||
Borrowings interest rate | 3.375% | 3.375% | 3.375% | ||
Financial liabilities | $ 0 | 1,719,000,000 | |||
3.0% Subordinated Notes Due June 2025 | HSBC Holdings | Subordinated liabilities | |||||
Disclosure of financial liabilities [line items] | |||||
Notional amount | € | € 1,500,000,000 | ||||
Borrowings interest rate | 3.00% | 3.00% | 3.00% | ||
Financial liabilities | $ 1,736,000,000 | 1,725,000,000 | |||
3.125% Subordinated Notes Due June 2028 | HSBC Holdings | Subordinated liabilities | |||||
Disclosure of financial liabilities [line items] | |||||
Notional amount | € | € 1,000,000,000 | ||||
Borrowings interest rate | 3.125% | 3.125% | 3.125% | ||
Financial liabilities | $ 1,321,000,000 | 1,233,000,000 | |||
Borrowings Issued To Related Parties | HSBC Holdings | Subordinated liabilities | |||||
Disclosure of financial liabilities [line items] | |||||
Financial liabilities | 892,000,000 | 892,000,000 | |||
10.176% Subordinated Step-up Cumulative Notes Due June 2040 | HSBC Holdings | Subordinated liabilities | |||||
Disclosure of financial liabilities [line items] | |||||
Notional amount | $ 900,000,000 | ||||
Borrowings interest rate | 10.176% | 10.176% | 10.176% | ||
Financial liabilities | $ 892,000,000 | 892,000,000 | |||
Borrowings Issued To Third Parties, Other Securities | HSBC Holdings | Subordinated liabilities | |||||
Disclosure of financial liabilities [line items] | |||||
Financial liabilities | 1,503,000,000 | 0 | |||
5.625% contingent convertible securities | HSBC Holdings | Subordinated liabilities | |||||
Disclosure of financial liabilities [line items] | |||||
Notional amount | $ 1,500,000,000 | ||||
Borrowings interest rate | 5.625% | 5.625% | 5.625% | ||
Financial liabilities | $ 1,503,000,000 | $ 0 |
Maturity analysis of assets, _3
Maturity analysis of assets, liabilities and off-balance sheet commitments - Maturity analysis of assets, liabilities and off-balance sheet commitments (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Financial assets | |||
Cash and balances at central banks | $ 154,099 | $ 162,843 | $ 180,624 |
Items in the course of collection from other banks | 4,956 | 5,787 | 6,628 |
Hong Kong Government certificates of indebtedness | 38,380 | 35,859 | |
Trading assets | 254,271 | 238,130 | |
Financial assets designated or otherwise mandatorily measured at fair value | 43,627 | 41,111 | |
Derivatives | 242,995 | 207,825 | |
Loans and advances to banks | 69,203 | 72,167 | |
Loans and advances to customers | 1,036,743 | 981,696 | 962,964 |
– personal | 431,137 | 391,390 | |
– corporate and commercial | 535,061 | 529,025 | |
– financial | 70,545 | 61,281 | |
Reverse repurchase agreements – non-trading | 240,862 | 242,804 | |
Financial investments | 443,312 | 407,433 | |
Accrued income and other financial assets | 92,979 | 75,548 | |
Financial assets | 2,621,427 | 2,471,203 | |
Non-financial assets | 93,725 | 86,921 | |
Total assets | 2,715,152 | 2,558,124 | 2,521,771 |
Off-balance sheet commitments received | |||
Loan and other credit-related commitments | 63,199 | 74,222 | |
Financial liabilities | |||
Hong Kong currency notes in circulation | 38,380 | 35,859 | |
Deposits from banks | 59,022 | 56,331 | |
Customer accounts | 1,439,115 | 1,362,643 | 1,364,462 |
– personal | 747,252 | 696,969 | |
– corporate and commercial | 519,317 | 499,158 | |
– financial | 172,546 | 166,516 | |
Repurchase agreements – non-trading | 140,344 | 165,884 | |
Items in the course of transmission to other banks | 4,817 | 5,641 | 6,850 |
Trading liabilities | 83,170 | 84,431 | |
Financial liabilities designated at fair value | 164,466 | 148,505 | |
Derivatives | 239,497 | 205,835 | |
Debt securities in issue | 104,555 | 85,342 | |
Accruals and other financial liabilities | 111,395 | 87,380 | |
Subordinated liabilities | 24,600 | 22,437 | |
Financial liabilities | 2,409,361 | 2,260,288 | |
Non-financial liabilities | 113,123 | 103,587 | |
Total liabilities | 2,522,484 | 2,363,875 | |
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 797,608 | 780,266 | |
Customer accounts, insured by guarantee schemes | 408,090 | 364,729 | |
HSBC Holdings | |||
Financial assets | |||
– balances with HSBC undertakings | 2,382 | 3,509 | $ 1,985 |
Financial assets designated or otherwise mandatorily measured at fair value | 61,964 | 23,513 | |
Derivatives | 2,002 | 707 | |
Loans and advances to banks | 10,218 | 56,144 | |
Financial assets with HSBC undertakings designated and otherwise mandatorily measured at fair value | 61,964 | 23,513 | |
Financial investments | 16,106 | 0 | |
Accrued income and other financial assets | 543 | 60 | |
Financial assets | 93,215 | 83,933 | |
Non-financial assets | 162,025 | 161,248 | |
Total assets | 255,240 | 245,181 | |
Financial liabilities | |||
Amounts owed to HSBC undertakings | 464 | 949 | |
Financial liabilities designated at fair value | 30,303 | 25,049 | |
Derivatives | 2,021 | 2,159 | |
Debt securities in issue | 56,844 | 50,800 | |
Accruals and other financial liabilities | 1,877 | 942 | |
Subordinated liabilities | 18,361 | 17,715 | |
Financial liabilities | 109,870 | 97,614 | |
Non-financial liabilities | 326 | 214 | |
Total liabilities | 110,196 | 97,828 | |
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 0 | 0 | |
Personal | |||
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 223,153 | 206,055 | |
Corporate and commercial | |||
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 461,518 | 447,818 | |
Financial | |||
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 112,937 | 126,393 | |
Debt securities in issue | |||
Financial liabilities | |||
Financial liabilities | 236,323 | 196,093 | |
Debt securities in issue | HSBC Holdings | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 24,687 | 17,767 | |
Financial liabilities | 81,531 | 68,567 | |
– debt securities in issue: covered bonds | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 4,961 | 5,253 | |
Debt securities in issue | 1,747 | 748 | |
– debt securities in issue: unsecured | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 125,402 | 104,064 | |
Debt securities in issue | 97,542 | 78,548 | |
– subordinated liabilities and preferred securities | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 10,550 | 14,693 | |
– subordinated liabilities and preferred securities | HSBC Holdings | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 5,616 | 7,282 | |
– other | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 23,553 | 24,495 | |
– debt securities in issue: otherwise secured | |||
Financial liabilities | |||
Debt securities in issue | 5,266 | 6,046 | |
Due not more than 1 month | |||
Financial assets | |||
Cash and balances at central banks | 154,099 | 162,843 | |
Items in the course of collection from other banks | 4,956 | 5,787 | |
Hong Kong Government certificates of indebtedness | 38,380 | 35,859 | |
Trading assets | 252,009 | 235,443 | |
Financial assets designated or otherwise mandatorily measured at fair value | 4,846 | 7,743 | |
Derivatives | 241,941 | 206,925 | |
Loans and advances to banks | 41,554 | 40,114 | |
Loans and advances to customers | 190,675 | 178,613 | |
– personal | 51,893 | 41,967 | |
– corporate and commercial | 118,585 | 118,294 | |
– financial | 20,197 | 18,352 | |
Reverse repurchase agreements – non-trading | 164,741 | 172,795 | |
Financial investments | 36,128 | 40,421 | |
Accrued income and other financial assets | 80,661 | 62,067 | |
Financial assets | 1,209,990 | 1,148,610 | |
Non-financial assets | 0 | 0 | |
Total assets | 1,209,990 | 1,148,610 | |
Off-balance sheet commitments received | |||
Loan and other credit-related commitments | 63,199 | 73,464 | |
Financial liabilities | |||
Hong Kong currency notes in circulation | 38,380 | 35,859 | |
Deposits from banks | 46,397 | 42,406 | |
Customer accounts | 1,287,358 | 1,225,919 | |
– personal | 646,843 | 612,325 | |
– corporate and commercial | 479,763 | 457,661 | |
– financial | 160,752 | 155,933 | |
Repurchase agreements – non-trading | 132,042 | 154,383 | |
Items in the course of transmission to other banks | 4,817 | 5,641 | |
Trading liabilities | 82,130 | 82,867 | |
Financial liabilities designated at fair value | 12,844 | 3,813 | |
Derivatives | 237,901 | 203,962 | |
Debt securities in issue | 8,183 | 6,777 | |
Accruals and other financial liabilities | 87,796 | 69,958 | |
Subordinated liabilities | 1,502 | 6 | |
Financial liabilities | 1,939,350 | 1,831,591 | |
Non-financial liabilities | 0 | 0 | |
Total liabilities | 1,939,350 | 1,831,591 | |
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 794,336 | 769,311 | |
Due not more than 1 month | HSBC Holdings | |||
Financial assets | |||
– balances with HSBC undertakings | 2,382 | 3,509 | |
Derivatives | 596 | 540 | |
Loans and advances to banks | 102 | 3,052 | |
Financial assets with HSBC undertakings designated and otherwise mandatorily measured at fair value | 0 | 0 | |
Financial investments | 2,754 | 0 | |
Accrued income and other financial assets | 93 | 33 | |
Financial assets | 5,927 | 7,134 | |
Non-financial assets | 0 | 0 | |
Total assets | 5,927 | 7,134 | |
Financial liabilities | |||
Amounts owed to HSBC undertakings | 0 | 0 | |
Financial liabilities designated at fair value | 0 | 0 | |
Derivatives | 1,838 | 1,321 | |
Debt securities in issue | 0 | 0 | |
Accruals and other financial liabilities | 900 | 319 | |
Subordinated liabilities | 1,503 | 0 | |
Financial liabilities | 4,241 | 1,640 | |
Non-financial liabilities | 0 | 0 | |
Total liabilities | 4,241 | 1,640 | |
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 0 | 0 | |
Due not more than 1 month | Personal | |||
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 221,952 | 203,622 | |
Due not more than 1 month | Corporate and commercial | |||
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 460,569 | 441,199 | |
Due not more than 1 month | Financial | |||
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 111,815 | 124,490 | |
Due not more than 1 month | Debt securities in issue | HSBC Holdings | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 0 | 0 | |
Due not more than 1 month | – debt securities in issue: covered bonds | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 0 | 0 | |
Debt securities in issue | 0 | 0 | |
Due not more than 1 month | – debt securities in issue: unsecured | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 8,884 | 981 | |
Debt securities in issue | 6,168 | 4,611 | |
Due not more than 1 month | – subordinated liabilities and preferred securities | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 23 | 0 | |
Due not more than 1 month | – subordinated liabilities and preferred securities | HSBC Holdings | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 0 | 0 | |
Due not more than 1 month | – other | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 3,937 | 2,832 | |
Due not more than 1 month | – debt securities in issue: otherwise secured | |||
Financial liabilities | |||
Debt securities in issue | 2,015 | 2,166 | |
Due over 1 month but not more than 3 months | |||
Financial assets | |||
Cash and balances at central banks | 0 | 0 | |
Items in the course of collection from other banks | 0 | 0 | |
Hong Kong Government certificates of indebtedness | 0 | 0 | |
Trading assets | 644 | 264 | |
Financial assets designated or otherwise mandatorily measured at fair value | 74 | 49 | |
Derivatives | 150 | 15 | |
Loans and advances to banks | 7,826 | 10,421 | |
Loans and advances to customers | 82,379 | 72,072 | |
– personal | 14,547 | 8,736 | |
– corporate and commercial | 61,629 | 58,623 | |
– financial | 6,203 | 4,713 | |
Reverse repurchase agreements – non-trading | 38,997 | 41,084 | |
Financial investments | 64,472 | 58,731 | |
Accrued income and other financial assets | 5,544 | 6,893 | |
Financial assets | 200,086 | 189,529 | |
Non-financial assets | 0 | 0 | |
Total assets | 200,086 | 189,529 | |
Off-balance sheet commitments received | |||
Loan and other credit-related commitments | 0 | 0 | |
Financial liabilities | |||
Hong Kong currency notes in circulation | 0 | 0 | |
Deposits from banks | 4,167 | 3,457 | |
Customer accounts | 81,038 | 66,990 | |
– personal | 49,405 | 38,132 | |
– corporate and commercial | 24,214 | 22,922 | |
– financial | 7,419 | 5,936 | |
Repurchase agreements – non-trading | 3,402 | 8,140 | |
Items in the course of transmission to other banks | 0 | 0 | |
Trading liabilities | 209 | 251 | |
Financial liabilities designated at fair value | 4,667 | 4,476 | |
Derivatives | 105 | 62 | |
Debt securities in issue | 17,374 | 11,194 | |
Accruals and other financial liabilities | 9,078 | 8,986 | |
Subordinated liabilities | 0 | 89 | |
Financial liabilities | 120,040 | 103,645 | |
Non-financial liabilities | 0 | 0 | |
Total liabilities | 120,040 | 103,645 | |
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 600 | 5,281 | |
Due over 1 month but not more than 3 months | HSBC Holdings | |||
Financial assets | |||
– balances with HSBC undertakings | 0 | 0 | |
Derivatives | 0 | 0 | |
Loans and advances to banks | 672 | 11,563 | |
Financial assets with HSBC undertakings designated and otherwise mandatorily measured at fair value | 0 | 0 | |
Financial investments | 3,493 | 0 | |
Accrued income and other financial assets | 277 | 27 | |
Financial assets | 4,442 | 11,590 | |
Non-financial assets | 0 | 0 | |
Total assets | 4,442 | 11,590 | |
Financial liabilities | |||
Amounts owed to HSBC undertakings | 464 | 949 | |
Financial liabilities designated at fair value | 0 | 0 | |
Derivatives | 0 | 0 | |
Debt securities in issue | 0 | 0 | |
Accruals and other financial liabilities | 574 | 353 | |
Subordinated liabilities | 0 | 0 | |
Financial liabilities | 1,038 | 1,302 | |
Non-financial liabilities | 0 | 0 | |
Total liabilities | 1,038 | 1,302 | |
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 0 | 0 | |
Due over 1 month but not more than 3 months | Personal | |||
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 40 | 974 | |
Due over 1 month but not more than 3 months | Corporate and commercial | |||
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 117 | 2,694 | |
Due over 1 month but not more than 3 months | Financial | |||
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 443 | 1,613 | |
Due over 1 month but not more than 3 months | Debt securities in issue | HSBC Holdings | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 0 | 0 | |
Due over 1 month but not more than 3 months | – debt securities in issue: covered bonds | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 0 | 0 | |
Debt securities in issue | 0 | 0 | |
Due over 1 month but not more than 3 months | – debt securities in issue: unsecured | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 2,046 | 1,562 | |
Debt securities in issue | 17,372 | 10,094 | |
Due over 1 month but not more than 3 months | – subordinated liabilities and preferred securities | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 0 | 0 | |
Due over 1 month but not more than 3 months | – subordinated liabilities and preferred securities | HSBC Holdings | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 0 | 0 | |
Due over 1 month but not more than 3 months | – other | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 2,621 | 2,914 | |
Due over 1 month but not more than 3 months | – debt securities in issue: otherwise secured | |||
Financial liabilities | |||
Debt securities in issue | 2 | 1,100 | |
Due over 3 months but not more than 6 months | |||
Financial assets | |||
Cash and balances at central banks | 0 | 0 | |
Items in the course of collection from other banks | 0 | 0 | |
Hong Kong Government certificates of indebtedness | 0 | 0 | |
Trading assets | 412 | 707 | |
Financial assets designated or otherwise mandatorily measured at fair value | 381 | 371 | |
Derivatives | 24 | 57 | |
Loans and advances to banks | 4,877 | 3,486 | |
Loans and advances to customers | 61,254 | 58,680 | |
– personal | 8,562 | 8,237 | |
– corporate and commercial | 45,924 | 45,918 | |
– financial | 6,768 | 4,525 | |
Reverse repurchase agreements – non-trading | 17,933 | 13,308 | |
Financial investments | 35,795 | 30,464 | |
Accrued income and other financial assets | 2,532 | 2,403 | |
Financial assets | 123,208 | 109,476 | |
Non-financial assets | 0 | 0 | |
Total assets | 123,208 | 109,476 | |
Off-balance sheet commitments received | |||
Loan and other credit-related commitments | 0 | 0 | |
Financial liabilities | |||
Hong Kong currency notes in circulation | 0 | 0 | |
Deposits from banks | 2,773 | 1,043 | |
Customer accounts | 38,343 | 31,315 | |
– personal | 29,320 | 21,218 | |
– corporate and commercial | 7,162 | 8,029 | |
– financial | 1,861 | 2,068 | |
Repurchase agreements – non-trading | 1,579 | 1,750 | |
Items in the course of transmission to other banks | 0 | 0 | |
Trading liabilities | 265 | 326 | |
Financial liabilities designated at fair value | 4,236 | 6,878 | |
Derivatives | 73 | 135 | |
Debt securities in issue | 12,799 | 12,556 | |
Accruals and other financial liabilities | 3,914 | 3,296 | |
Subordinated liabilities | 22 | 3 | |
Financial liabilities | 64,004 | 57,302 | |
Non-financial liabilities | 0 | 0 | |
Total liabilities | 64,004 | 57,302 | |
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 590 | 941 | |
Due over 3 months but not more than 6 months | HSBC Holdings | |||
Financial assets | |||
– balances with HSBC undertakings | 0 | 0 | |
Derivatives | 0 | 0 | |
Loans and advances to banks | 120 | 158 | |
Financial assets with HSBC undertakings designated and otherwise mandatorily measured at fair value | 0 | 0 | |
Financial investments | 1,873 | 0 | |
Accrued income and other financial assets | 97 | 0 | |
Financial assets | 2,090 | 158 | |
Non-financial assets | 0 | 0 | |
Total assets | 2,090 | 158 | |
Financial liabilities | |||
Amounts owed to HSBC undertakings | 0 | 0 | |
Financial liabilities designated at fair value | 0 | 2,125 | |
Derivatives | 0 | 0 | |
Debt securities in issue | 0 | 0 | |
Accruals and other financial liabilities | 303 | 188 | |
Subordinated liabilities | 0 | 0 | |
Financial liabilities | 303 | 2,313 | |
Non-financial liabilities | 0 | 0 | |
Total liabilities | 303 | 2,313 | |
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 0 | 0 | |
Due over 3 months but not more than 6 months | Personal | |||
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 39 | 59 | |
Due over 3 months but not more than 6 months | Corporate and commercial | |||
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 96 | 799 | |
Due over 3 months but not more than 6 months | Financial | |||
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 455 | 83 | |
Due over 3 months but not more than 6 months | Debt securities in issue | HSBC Holdings | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 0 | 0 | |
Due over 3 months but not more than 6 months | – debt securities in issue: covered bonds | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 0 | 205 | |
Debt securities in issue | 0 | 0 | |
Due over 3 months but not more than 6 months | – debt securities in issue: unsecured | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 2,946 | 2,659 | |
Debt securities in issue | 12,551 | 12,526 | |
Due over 3 months but not more than 6 months | – subordinated liabilities and preferred securities | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 0 | 2,125 | |
Due over 3 months but not more than 6 months | – subordinated liabilities and preferred securities | HSBC Holdings | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 0 | 2,125 | |
Due over 3 months but not more than 6 months | – other | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 1,290 | 1,889 | |
Due over 3 months but not more than 6 months | – debt securities in issue: otherwise secured | |||
Financial liabilities | |||
Debt securities in issue | 248 | 30 | |
Due over 6 months but not more than 9 months | |||
Financial assets | |||
Cash and balances at central banks | 0 | 0 | |
Items in the course of collection from other banks | 0 | 0 | |
Hong Kong Government certificates of indebtedness | 0 | 0 | |
Trading assets | 62 | 744 | |
Financial assets designated or otherwise mandatorily measured at fair value | 200 | 145 | |
Derivatives | 27 | 79 | |
Loans and advances to banks | 2,592 | 2,004 | |
Loans and advances to customers | 36,005 | 38,394 | |
– personal | 7,245 | 7,581 | |
– corporate and commercial | 25,006 | 27,001 | |
– financial | 3,754 | 3,812 | |
Reverse repurchase agreements – non-trading | 8,226 | 5,763 | |
Financial investments | 17,485 | 15,707 | |
Accrued income and other financial assets | 915 | 561 | |
Financial assets | 65,512 | 63,397 | |
Non-financial assets | 0 | 0 | |
Total assets | 65,512 | 63,397 | |
Off-balance sheet commitments received | |||
Loan and other credit-related commitments | 0 | 0 | |
Financial liabilities | |||
Hong Kong currency notes in circulation | 0 | 0 | |
Deposits from banks | 454 | 784 | |
Customer accounts | 11,530 | 17,218 | |
– personal | 8,484 | 11,483 | |
– corporate and commercial | 2,621 | 4,599 | |
– financial | 425 | 1,136 | |
Repurchase agreements – non-trading | 1,882 | 629 | |
Items in the course of transmission to other banks | 0 | 0 | |
Trading liabilities | 148 | 633 | |
Financial liabilities designated at fair value | 4,552 | 3,076 | |
Derivatives | 10 | 191 | |
Debt securities in issue | 13,152 | 8,075 | |
Accruals and other financial liabilities | 1,244 | 659 | |
Subordinated liabilities | 1,993 | 0 | |
Financial liabilities | 34,965 | 31,265 | |
Non-financial liabilities | 0 | 0 | |
Total liabilities | 34,965 | 31,265 | |
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 313 | 1,972 | |
Due over 6 months but not more than 9 months | HSBC Holdings | |||
Financial assets | |||
– balances with HSBC undertakings | 0 | 0 | |
Derivatives | 0 | 0 | |
Loans and advances to banks | 25 | 968 | |
Financial assets with HSBC undertakings designated and otherwise mandatorily measured at fair value | 0 | 0 | |
Financial investments | 2,251 | 0 | |
Accrued income and other financial assets | 48 | 0 | |
Financial assets | 2,324 | 968 | |
Non-financial assets | 0 | 0 | |
Total assets | 2,324 | 968 | |
Financial liabilities | |||
Amounts owed to HSBC undertakings | 0 | 0 | |
Financial liabilities designated at fair value | 0 | 0 | |
Derivatives | 0 | 0 | |
Debt securities in issue | 0 | 0 | |
Accruals and other financial liabilities | 55 | 36 | |
Subordinated liabilities | 0 | 0 | |
Financial liabilities | 55 | 36 | |
Non-financial liabilities | 0 | 0 | |
Total liabilities | 55 | 36 | |
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 0 | 0 | |
Due over 6 months but not more than 9 months | Personal | |||
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 56 | 32 | |
Due over 6 months but not more than 9 months | Corporate and commercial | |||
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 52 | 1,895 | |
Due over 6 months but not more than 9 months | Financial | |||
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 205 | 45 | |
Due over 6 months but not more than 9 months | Debt securities in issue | HSBC Holdings | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 0 | 0 | |
Due over 6 months but not more than 9 months | – debt securities in issue: covered bonds | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 0 | 0 | |
Debt securities in issue | 0 | 0 | |
Due over 6 months but not more than 9 months | – debt securities in issue: unsecured | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 3,757 | 2,290 | |
Debt securities in issue | 12,991 | 8,075 | |
Due over 6 months but not more than 9 months | – subordinated liabilities and preferred securities | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 0 | 0 | |
Due over 6 months but not more than 9 months | – subordinated liabilities and preferred securities | HSBC Holdings | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 0 | 0 | |
Due over 6 months but not more than 9 months | – other | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 795 | 786 | |
Due over 6 months but not more than 9 months | – debt securities in issue: otherwise secured | |||
Financial liabilities | |||
Debt securities in issue | 161 | 0 | |
Due over 9 months but not more than 1 year | |||
Financial assets | |||
Cash and balances at central banks | 0 | 0 | |
Items in the course of collection from other banks | 0 | 0 | |
Hong Kong Government certificates of indebtedness | 0 | 0 | |
Trading assets | 452 | 104 | |
Financial assets designated or otherwise mandatorily measured at fair value | 422 | 334 | |
Derivatives | 22 | 18 | |
Loans and advances to banks | 2,859 | 3,282 | |
Loans and advances to customers | 36,755 | 37,333 | |
– personal | 6,931 | 7,240 | |
– corporate and commercial | 25,069 | 25,597 | |
– financial | 4,755 | 4,496 | |
Reverse repurchase agreements – non-trading | 6,305 | 3,574 | |
Financial investments | 18,202 | 15,357 | |
Accrued income and other financial assets | 495 | 307 | |
Financial assets | 65,512 | 60,309 | |
Non-financial assets | 0 | 0 | |
Total assets | 65,512 | 60,309 | |
Off-balance sheet commitments received | |||
Loan and other credit-related commitments | 0 | 1 | |
Financial liabilities | |||
Hong Kong currency notes in circulation | 0 | 0 | |
Deposits from banks | 844 | 542 | |
Customer accounts | 11,342 | 13,760 | |
– personal | 6,852 | 8,282 | |
– corporate and commercial | 3,009 | 4,317 | |
– financial | 1,481 | 1,161 | |
Repurchase agreements – non-trading | 59 | 73 | |
Items in the course of transmission to other banks | 0 | 0 | |
Trading liabilities | 102 | 81 | |
Financial liabilities designated at fair value | 5,196 | 3,481 | |
Derivatives | 18 | 144 | |
Debt securities in issue | 11,382 | 3,330 | |
Accruals and other financial liabilities | 2,058 | 1,269 | |
Subordinated liabilities | 100 | 0 | |
Financial liabilities | 31,101 | 22,680 | |
Non-financial liabilities | 0 | 0 | |
Total liabilities | 31,101 | 22,680 | |
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 551 | 1,257 | |
Due over 9 months but not more than 1 year | HSBC Holdings | |||
Financial assets | |||
– balances with HSBC undertakings | 0 | 0 | |
Derivatives | 0 | 0 | |
Loans and advances to banks | 0 | 1 | |
Financial assets with HSBC undertakings designated and otherwise mandatorily measured at fair value | 0 | 0 | |
Financial investments | 2,721 | 0 | |
Accrued income and other financial assets | 16 | 0 | |
Financial assets | 2,737 | 1 | |
Non-financial assets | 0 | 0 | |
Total assets | 2,737 | 1 | |
Financial liabilities | |||
Amounts owed to HSBC undertakings | 0 | 0 | |
Financial liabilities designated at fair value | 0 | 0 | |
Derivatives | 0 | 0 | |
Debt securities in issue | 0 | 0 | |
Accruals and other financial liabilities | 10 | 5 | |
Subordinated liabilities | 0 | 0 | |
Financial liabilities | 10 | 5 | |
Non-financial liabilities | 0 | 0 | |
Total liabilities | 10 | 5 | |
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 0 | 0 | |
Due over 9 months but not more than 1 year | Personal | |||
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 167 | 201 | |
Due over 9 months but not more than 1 year | Corporate and commercial | |||
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 381 | 974 | |
Due over 9 months but not more than 1 year | Financial | |||
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 3 | 82 | |
Due over 9 months but not more than 1 year | Debt securities in issue | HSBC Holdings | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 0 | 0 | |
Due over 9 months but not more than 1 year | – debt securities in issue: covered bonds | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 1,139 | 0 | |
Debt securities in issue | 0 | 0 | |
Due over 9 months but not more than 1 year | – debt securities in issue: unsecured | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 3,030 | 2,353 | |
Debt securities in issue | 11,382 | 3,330 | |
Due over 9 months but not more than 1 year | – subordinated liabilities and preferred securities | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 0 | 0 | |
Due over 9 months but not more than 1 year | – subordinated liabilities and preferred securities | HSBC Holdings | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 0 | 0 | |
Due over 9 months but not more than 1 year | – other | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 1,027 | 1,128 | |
Due over 9 months but not more than 1 year | – debt securities in issue: otherwise secured | |||
Financial liabilities | |||
Debt securities in issue | 0 | 0 | |
Due over 1 year but not more than 2 years | |||
Financial assets | |||
Cash and balances at central banks | 0 | 0 | |
Items in the course of collection from other banks | 0 | 0 | |
Hong Kong Government certificates of indebtedness | 0 | 0 | |
Trading assets | 152 | 197 | |
Financial assets designated or otherwise mandatorily measured at fair value | 780 | 918 | |
Derivatives | 112 | 69 | |
Loans and advances to banks | 6,848 | 7,158 | |
Loans and advances to customers | 106,203 | 101,267 | |
– personal | 22,923 | 24,942 | |
– corporate and commercial | 71,751 | 67,093 | |
– financial | 11,529 | 9,232 | |
Reverse repurchase agreements – non-trading | 2,298 | 5,253 | |
Financial investments | 48,427 | 41,866 | |
Accrued income and other financial assets | 432 | 349 | |
Financial assets | 165,252 | 157,077 | |
Non-financial assets | 0 | 0 | |
Total assets | 165,252 | 157,077 | |
Off-balance sheet commitments received | |||
Loan and other credit-related commitments | 0 | 3 | |
Financial liabilities | |||
Hong Kong currency notes in circulation | 0 | 0 | |
Deposits from banks | 2,455 | 5,558 | |
Customer accounts | 5,275 | 4,122 | |
– personal | 3,631 | 2,853 | |
– corporate and commercial | 1,119 | 1,092 | |
– financial | 525 | 177 | |
Repurchase agreements – non-trading | 354 | 408 | |
Items in the course of transmission to other banks | 0 | 0 | |
Trading liabilities | 287 | 235 | |
Financial liabilities designated at fair value | 26,081 | 12,545 | |
Derivatives | 68 | 560 | |
Debt securities in issue | 14,572 | 10,670 | |
Accruals and other financial liabilities | 1,592 | 885 | |
Subordinated liabilities | 755 | 1,996 | |
Financial liabilities | 51,439 | 36,979 | |
Non-financial liabilities | 0 | 0 | |
Total liabilities | 51,439 | 36,979 | |
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 442 | 361 | |
Due over 1 year but not more than 2 years | HSBC Holdings | |||
Financial assets | |||
– balances with HSBC undertakings | 0 | 0 | |
Derivatives | 0 | 0 | |
Loans and advances to banks | 600 | 0 | |
Financial assets with HSBC undertakings designated and otherwise mandatorily measured at fair value | 458 | 0 | |
Financial investments | 3,014 | 0 | |
Accrued income and other financial assets | 12 | 0 | |
Financial assets | 4,084 | 0 | |
Non-financial assets | 0 | 0 | |
Total assets | 4,084 | 0 | |
Financial liabilities | |||
Amounts owed to HSBC undertakings | 0 | 0 | |
Financial liabilities designated at fair value | 5,651 | 0 | |
Derivatives | 20 | 0 | |
Debt securities in issue | 10,134 | 0 | |
Accruals and other financial liabilities | 0 | 0 | |
Subordinated liabilities | 0 | 0 | |
Financial liabilities | 15,805 | 0 | |
Non-financial liabilities | 0 | 0 | |
Total liabilities | 15,805 | 0 | |
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 0 | 0 | |
Due over 1 year but not more than 2 years | Personal | |||
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 208 | 280 | |
Due over 1 year but not more than 2 years | Corporate and commercial | |||
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 218 | 34 | |
Due over 1 year but not more than 2 years | Financial | |||
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 16 | 47 | |
Due over 1 year but not more than 2 years | Debt securities in issue | HSBC Holdings | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 5,651 | 0 | |
Due over 1 year but not more than 2 years | – debt securities in issue: covered bonds | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 0 | 1,190 | |
Debt securities in issue | 749 | 0 | |
Due over 1 year but not more than 2 years | – debt securities in issue: unsecured | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 22,950 | 9,143 | |
Debt securities in issue | 13,604 | 10,276 | |
Due over 1 year but not more than 2 years | – subordinated liabilities and preferred securities | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 0 | 0 | |
Due over 1 year but not more than 2 years | – subordinated liabilities and preferred securities | HSBC Holdings | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 0 | 0 | |
Due over 1 year but not more than 2 years | – other | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 3,131 | 2,212 | |
Due over 1 year but not more than 2 years | – debt securities in issue: otherwise secured | |||
Financial liabilities | |||
Debt securities in issue | 219 | 394 | |
Due over 2 years but not more than 5 years | |||
Financial assets | |||
Cash and balances at central banks | 0 | 0 | |
Items in the course of collection from other banks | 0 | 0 | |
Hong Kong Government certificates of indebtedness | 0 | 0 | |
Trading assets | 540 | 671 | |
Financial assets designated or otherwise mandatorily measured at fair value | 2,356 | 2,415 | |
Derivatives | 294 | 328 | |
Loans and advances to banks | 2,005 | 4,508 | |
Loans and advances to customers | 227,811 | 219,841 | |
– personal | 66,761 | 63,061 | |
– corporate and commercial | 147,139 | 143,959 | |
– financial | 13,911 | 12,821 | |
Reverse repurchase agreements – non-trading | 2,362 | 1,027 | |
Financial investments | 90,193 | 92,846 | |
Accrued income and other financial assets | 363 | 731 | |
Financial assets | 325,924 | 322,367 | |
Non-financial assets | 0 | 0 | |
Total assets | 325,924 | 322,367 | |
Off-balance sheet commitments received | |||
Loan and other credit-related commitments | 0 | 98 | |
Financial liabilities | |||
Hong Kong currency notes in circulation | 0 | 0 | |
Deposits from banks | 876 | 1,655 | |
Customer accounts | 4,075 | 3,194 | |
– personal | 2,646 | 2,623 | |
– corporate and commercial | 1,388 | 509 | |
– financial | 41 | 62 | |
Repurchase agreements – non-trading | 2 | 501 | |
Items in the course of transmission to other banks | 0 | 0 | |
Trading liabilities | 29 | 36 | |
Financial liabilities designated at fair value | 43,534 | 53,615 | |
Derivatives | 540 | 159 | |
Debt securities in issue | 20,048 | 19,713 | |
Accruals and other financial liabilities | 2,823 | 1,027 | |
Subordinated liabilities | 424 | 1,384 | |
Financial liabilities | 72,351 | 81,284 | |
Non-financial liabilities | 0 | 0 | |
Total liabilities | 72,351 | 81,284 | |
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 458 | 731 | |
Due over 2 years but not more than 5 years | HSBC Holdings | |||
Financial assets | |||
– balances with HSBC undertakings | 0 | 0 | |
Derivatives | 230 | 0 | |
Loans and advances to banks | 1,909 | 14,062 | |
Financial assets with HSBC undertakings designated and otherwise mandatorily measured at fair value | 24,845 | 8,116 | |
Financial investments | 0 | 0 | |
Accrued income and other financial assets | 0 | ||
Financial assets | 26,984 | 22,178 | |
Non-financial assets | 0 | 0 | |
Total assets | 26,984 | 22,178 | |
Financial liabilities | |||
Amounts owed to HSBC undertakings | 0 | 0 | |
Financial liabilities designated at fair value | 6,710 | 12,306 | |
Derivatives | 85 | 339 | |
Debt securities in issue | 23,786 | 23,770 | |
Accruals and other financial liabilities | 0 | 0 | |
Subordinated liabilities | 2,076 | 0 | |
Financial liabilities | 32,657 | 36,415 | |
Non-financial liabilities | 0 | 0 | |
Total liabilities | 32,657 | 36,415 | |
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 0 | 0 | |
Due over 2 years but not more than 5 years | Personal | |||
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 392 | 556 | |
Due over 2 years but not more than 5 years | Corporate and commercial | |||
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 66 | 150 | |
Due over 2 years but not more than 5 years | Financial | |||
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 0 | 25 | |
Due over 2 years but not more than 5 years | Debt securities in issue | HSBC Holdings | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 6,710 | 12,306 | |
Due over 2 years but not more than 5 years | – debt securities in issue: covered bonds | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 2,663 | 2,721 | |
Debt securities in issue | 998 | 748 | |
Due over 2 years but not more than 5 years | – debt securities in issue: unsecured | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 34,753 | 47,443 | |
Debt securities in issue | 18,092 | 18,021 | |
Due over 2 years but not more than 5 years | – subordinated liabilities and preferred securities | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 2,131 | 0 | |
Due over 2 years but not more than 5 years | – subordinated liabilities and preferred securities | HSBC Holdings | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 0 | 0 | |
Due over 2 years but not more than 5 years | – other | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 3,987 | 3,451 | |
Due over 2 years but not more than 5 years | – debt securities in issue: otherwise secured | |||
Financial liabilities | |||
Debt securities in issue | 958 | 944 | |
More than 5 years | |||
Financial assets | |||
Cash and balances at central banks | 0 | 0 | |
Items in the course of collection from other banks | 0 | 0 | |
Hong Kong Government certificates of indebtedness | 0 | 0 | |
Trading assets | 0 | 0 | |
Financial assets designated or otherwise mandatorily measured at fair value | 34,568 | 29,136 | |
Derivatives | 425 | 334 | |
Loans and advances to banks | 642 | 1,194 | |
Loans and advances to customers | 295,661 | 275,496 | |
– personal | 252,275 | 229,626 | |
– corporate and commercial | 39,958 | 42,540 | |
– financial | 3,428 | 3,330 | |
Reverse repurchase agreements – non-trading | 0 | 0 | |
Financial investments | 132,610 | 112,041 | |
Accrued income and other financial assets | 2,037 | 2,237 | |
Financial assets | 465,943 | 420,438 | |
Non-financial assets | 93,725 | 86,921 | |
Total assets | 559,668 | 507,359 | |
Off-balance sheet commitments received | |||
Loan and other credit-related commitments | 0 | 656 | |
Financial liabilities | |||
Hong Kong currency notes in circulation | 0 | 0 | |
Deposits from banks | 1,056 | 886 | |
Customer accounts | 154 | 125 | |
– personal | 71 | 53 | |
– corporate and commercial | 41 | 29 | |
– financial | 42 | 43 | |
Repurchase agreements – non-trading | 1,024 | 0 | |
Items in the course of transmission to other banks | 0 | 0 | |
Trading liabilities | 0 | 2 | |
Financial liabilities designated at fair value | 63,356 | 60,621 | |
Derivatives | 782 | 622 | |
Debt securities in issue | 7,045 | 13,027 | |
Accruals and other financial liabilities | 2,890 | 1,300 | |
Subordinated liabilities | 19,804 | 18,959 | |
Financial liabilities | 96,111 | 95,542 | |
Non-financial liabilities | 113,123 | 103,587 | |
Total liabilities | 209,234 | 199,129 | |
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 318 | 412 | |
More than 5 years | HSBC Holdings | |||
Financial assets | |||
– balances with HSBC undertakings | 0 | 0 | |
Derivatives | 1,176 | 167 | |
Loans and advances to banks | 6,790 | 26,340 | |
Financial assets with HSBC undertakings designated and otherwise mandatorily measured at fair value | 36,661 | 15,397 | |
Financial investments | 0 | 0 | |
Accrued income and other financial assets | 0 | 0 | |
Financial assets | 44,627 | 41,904 | |
Non-financial assets | 162,025 | 161,248 | |
Total assets | 206,652 | 203,152 | |
Financial liabilities | |||
Amounts owed to HSBC undertakings | 0 | 0 | |
Financial liabilities designated at fair value | 17,942 | 10,618 | |
Derivatives | 78 | 499 | |
Debt securities in issue | 22,924 | 27,030 | |
Accruals and other financial liabilities | 35 | 41 | |
Subordinated liabilities | 14,782 | 17,715 | |
Financial liabilities | 55,761 | 55,903 | |
Non-financial liabilities | 326 | 214 | |
Total liabilities | 56,087 | 56,117 | |
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 0 | 0 | |
More than 5 years | Personal | |||
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 299 | 331 | |
More than 5 years | Corporate and commercial | |||
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 19 | 73 | |
More than 5 years | Financial | |||
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 0 | 8 | |
More than 5 years | Debt securities in issue | HSBC Holdings | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 12,326 | 5,461 | |
More than 5 years | – debt securities in issue: covered bonds | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 1,159 | 1,137 | |
Debt securities in issue | 0 | 0 | |
More than 5 years | – debt securities in issue: unsecured | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 47,036 | 37,633 | |
Debt securities in issue | 5,382 | 11,615 | |
More than 5 years | – subordinated liabilities and preferred securities | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 8,396 | 12,568 | |
More than 5 years | – subordinated liabilities and preferred securities | HSBC Holdings | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 5,616 | 5,157 | |
More than 5 years | – other | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 6,765 | 9,283 | |
More than 5 years | – debt securities in issue: otherwise secured | |||
Financial liabilities | |||
Debt securities in issue | $ 1,663 | $ 1,412 |
Maturity analysis of assets, _4
Maturity analysis of assets, liabilities and off-balance sheet commitments - Cash flows payable by HSBC under financial liabilities by remaining contractual maturities (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Deposits by banks | $ 59,320 | $ 56,508 |
Customer accounts | 1,441,810 | 1,364,528 |
Repurchase agreements – non-trading | 140,528 | 166,118 |
Trading liabilities | 83,170 | 84,431 |
Financial liabilities designated at fair value | 177,060 | 189,384 |
Derivatives | 241,291 | 208,737 |
Debt securities in issue | 109,315 | 93,646 |
Subordinated liabilities | 37,844 | 36,501 |
Other financial liabilities | 152,398 | 127,645 |
Cash flows payable under financial liabilities | 2,442,736 | 2,327,498 |
Loan and other credit-related commitments | 797,608 | 780,266 |
Financial guarantees | 20,214 | 23,518 |
Cash flows payable under financial liabilities and other contractual commitments | 3,260,558 | 3,131,282 |
Due not more than 1 month | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Deposits by banks | 46,471 | 42,569 |
Customer accounts | 1,288,577 | 1,226,828 |
Repurchase agreements – non-trading | 132,156 | 154,541 |
Trading liabilities | 83,170 | 84,431 |
Financial liabilities designated at fair value | 13,447 | 4,478 |
Derivatives | 237,897 | 204,360 |
Debt securities in issue | 8,757 | 7,295 |
Subordinated liabilities | 1,847 | 349 |
Other financial liabilities | 127,898 | 110,337 |
Cash flows payable under financial liabilities | 1,940,220 | 1,835,188 |
Loan and other credit-related commitments | 795,243 | 772,557 |
Financial guarantees | 20,007 | 22,942 |
Cash flows payable under financial liabilities and other contractual commitments | $ 2,755,470 | $ 2,630,687 |
Proportion of cash flows payable in period | 85.00% | 84.00% |
Due over 1 month but not more than 3 months | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Deposits by banks | $ 4,167 | $ 3,457 |
Customer accounts | 81,037 | 66,990 |
Repurchase agreements – non-trading | 3,403 | 8,140 |
Trading liabilities | 0 | 0 |
Financial liabilities designated at fair value | 4,666 | 4,476 |
Derivatives | 105 | 62 |
Debt securities in issue | 17,374 | 11,194 |
Subordinated liabilities | 0 | 89 |
Other financial liabilities | 9,079 | 8,987 |
Cash flows payable under financial liabilities | 119,831 | 103,395 |
Loan and other credit-related commitments | 601 | 5,279 |
Financial guarantees | 37 | 113 |
Cash flows payable under financial liabilities and other contractual commitments | $ 120,469 | $ 108,787 |
Proportion of cash flows payable in period | 4.00% | 3.00% |
Due over 3 months but not more than 1 year | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Deposits by banks | $ 4,227 | $ 2,419 |
Customer accounts | 62,105 | 62,963 |
Repurchase agreements – non-trading | 3,565 | 2,487 |
Trading liabilities | 0 | 0 |
Financial liabilities designated at fair value | 14,747 | 15,591 |
Derivatives | 522 | 927 |
Debt securities in issue | 38,423 | 24,902 |
Subordinated liabilities | 2,908 | 793 |
Other financial liabilities | 6,792 | 4,694 |
Cash flows payable under financial liabilities | 133,289 | 114,776 |
Loan and other credit-related commitments | 561 | 1,109 |
Financial guarantees | 102 | 289 |
Cash flows payable under financial liabilities and other contractual commitments | $ 133,952 | $ 116,174 |
Proportion of cash flows payable in period | 4.00% | 4.00% |
Due over 1 year but not more than 5 years | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Deposits by banks | $ 3,371 | $ 7,507 |
Customer accounts | 9,900 | 7,617 |
Repurchase agreements – non-trading | 368 | 950 |
Trading liabilities | 0 | 0 |
Financial liabilities designated at fair value | 76,155 | 75,578 |
Derivatives | 1,076 | 2,065 |
Debt securities in issue | 36,584 | 36,599 |
Subordinated liabilities | 5,197 | 7,600 |
Other financial liabilities | 5,637 | 2,367 |
Cash flows payable under financial liabilities | 138,288 | 140,283 |
Loan and other credit-related commitments | 886 | 944 |
Financial guarantees | 68 | 160 |
Cash flows payable under financial liabilities and other contractual commitments | $ 139,242 | $ 141,387 |
Proportion of cash flows payable in period | 4.00% | 5.00% |
More than 5 years | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Deposits by banks | $ 1,084 | $ 556 |
Customer accounts | 191 | 130 |
Repurchase agreements – non-trading | 1,036 | 0 |
Trading liabilities | 0 | 0 |
Financial liabilities designated at fair value | 68,045 | 89,261 |
Derivatives | 1,691 | 1,323 |
Debt securities in issue | 8,177 | 13,656 |
Subordinated liabilities | 27,892 | 27,670 |
Other financial liabilities | 2,992 | 1,260 |
Cash flows payable under financial liabilities | 111,108 | 133,856 |
Loan and other credit-related commitments | 317 | 377 |
Financial guarantees | 0 | 14 |
Cash flows payable under financial liabilities and other contractual commitments | $ 111,425 | $ 134,247 |
Proportion of cash flows payable in period | 3.00% | 4.00% |
HSBC Holdings | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Amounts owed to HSBC undertakings | $ 464 | $ 949 |
Financial liabilities designated at fair value | 34,000 | 28,930 |
Derivatives | 2,021 | 2,159 |
Debt securities in issue | 65,509 | 61,517 |
Subordinated liabilities | 29,736 | 30,335 |
Other financial liabilities | 1,840 | 903 |
Cash flows payable under financial liabilities | 133,570 | 124,793 |
Loan and other credit-related commitments | 0 | 0 |
Financial guarantees | 11,061 | 8,627 |
Cash flows payable under financial liabilities and other contractual commitments | 144,631 | 133,420 |
HSBC Holdings | Due not more than 1 month | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Amounts owed to HSBC undertakings | 0 | 0 |
Financial liabilities designated at fair value | 88 | 0 |
Derivatives | 1,838 | 1,321 |
Debt securities in issue | 128 | 0 |
Subordinated liabilities | 1,588 | 0 |
Other financial liabilities | 956 | 0 |
Cash flows payable under financial liabilities | 4,598 | 1,321 |
Loan and other credit-related commitments | 0 | 0 |
Financial guarantees | 11,061 | 8,627 |
Cash flows payable under financial liabilities and other contractual commitments | 15,659 | 9,948 |
HSBC Holdings | Due over 1 month but not more than 3 months | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Amounts owed to HSBC undertakings | 464 | 949 |
Financial liabilities designated at fair value | 168 | 237 |
Derivatives | 0 | 0 |
Debt securities in issue | 244 | 379 |
Subordinated liabilities | 154 | 248 |
Other financial liabilities | 519 | 675 |
Cash flows payable under financial liabilities | 1,549 | 2,488 |
Loan and other credit-related commitments | 0 | 0 |
Financial guarantees | 0 | 0 |
Cash flows payable under financial liabilities and other contractual commitments | 1,549 | 2,488 |
HSBC Holdings | Due over 3 months but not more than 1 year | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Amounts owed to HSBC undertakings | 0 | 0 |
Financial liabilities designated at fair value | 784 | 2,656 |
Derivatives | 0 | 0 |
Debt securities in issue | 1,137 | 1,159 |
Subordinated liabilities | 718 | 757 |
Other financial liabilities | 365 | 228 |
Cash flows payable under financial liabilities | 3,004 | 4,800 |
Loan and other credit-related commitments | 0 | 0 |
Financial guarantees | 0 | 0 |
Cash flows payable under financial liabilities and other contractual commitments | 3,004 | 4,800 |
HSBC Holdings | Due over 1 year but not more than 5 years | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Amounts owed to HSBC undertakings | 0 | 0 |
Financial liabilities designated at fair value | 14,776 | 14,384 |
Derivatives | 105 | 339 |
Debt securities in issue | 38,690 | 29,178 |
Subordinated liabilities | 5,743 | 4,019 |
Other financial liabilities | 0 | 0 |
Cash flows payable under financial liabilities | 59,314 | 47,920 |
Loan and other credit-related commitments | 0 | 0 |
Financial guarantees | 0 | 0 |
Cash flows payable under financial liabilities and other contractual commitments | 59,314 | 47,920 |
HSBC Holdings | More than 5 years | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Amounts owed to HSBC undertakings | 0 | 0 |
Financial liabilities designated at fair value | 18,184 | 11,653 |
Derivatives | 78 | 499 |
Debt securities in issue | 25,310 | 30,801 |
Subordinated liabilities | 21,533 | 25,311 |
Other financial liabilities | 0 | 0 |
Cash flows payable under financial liabilities | 65,105 | 68,264 |
Loan and other credit-related commitments | 0 | 0 |
Financial guarantees | 0 | 0 |
Cash flows payable under financial liabilities and other contractual commitments | $ 65,105 | $ 68,264 |
Offsetting of financial asset_3
Offsetting of financial assets and financial liabilities (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Financial assets | |||
Financial assets | $ 2,621,427 | $ 2,471,203 | |
Financial liabilities | |||
Financial liabilities | 2,409,361 | 2,260,288 | |
Loans and advances to customers | 1,036,743 | 981,696 | $ 962,964 |
Customer accounts | 1,439,115 | 1,362,643 | $ 1,364,462 |
Financial Liabilities Subject To Offsetting | |||
Financial liabilities | |||
Gross amounts | 555,205 | 575,945 | |
Amounts offset | (186,919) | (230,282) | |
Net amounts in the balance sheet | 368,286 | 345,663 | |
Financial instruments | (220,643) | (190,062) | |
Non-cash collateral | (97,431) | (111,115) | |
Cash collateral | (38,201) | (30,162) | |
Net amount | 12,011 | 14,324 | |
Amounts not subject to enforceable netting arrangements | 48,468 | 66,378 | |
Financial liabilities | 416,754 | 412,041 | |
Derivatives | |||
Financial liabilities | |||
Gross amounts | 275,286 | 248,123 | |
Amounts offset | (41,739) | (49,711) | |
Net amounts in the balance sheet | 233,547 | 198,412 | |
Financial instruments | (171,371) | (145,785) | |
Non-cash collateral | (20,137) | (14,895) | |
Cash collateral | (37,844) | (29,998) | |
Net amount | 4,195 | 7,734 | |
Amounts not subject to enforceable netting arrangements | 5,950 | 7,423 | |
Financial liabilities | 239,497 | 205,835 | |
Cash margins pledged | 8,303 | 5,888 | |
Trading liabilities | |||
Financial liabilities | |||
Gross amounts | 10,494 | 13,169 | |
Amounts offset | (280) | (790) | |
Net amounts in the balance sheet | 10,214 | 12,379 | |
Financial instruments | (1,553) | (1,244) | |
Non-cash collateral | (8,656) | (11,133) | |
Cash collateral | 0 | 0 | |
Net amount | 5 | 2 | |
Amounts not subject to enforceable netting arrangements | 46 | 114 | |
Financial liabilities | 10,260 | 12,493 | |
Non-trading liabilities | |||
Financial liabilities | |||
Gross amounts | 232,675 | 274,367 | |
Amounts offset | (134,772) | (167,313) | |
Net amounts in the balance sheet | 97,903 | 107,054 | |
Financial instruments | (28,826) | (21,788) | |
Non-cash collateral | (68,638) | (85,087) | |
Cash collateral | (357) | (164) | |
Net amount | 82 | 15 | |
Amounts not subject to enforceable netting arrangements | 42,441 | 58,830 | |
Financial liabilities | 140,344 | 165,884 | |
Customer accounts | |||
Financial liabilities | |||
Gross amounts | 36,750 | 40,286 | |
Amounts offset | (10,128) | (12,468) | |
Net amounts in the balance sheet | 26,622 | 27,818 | |
Financial instruments | (18,893) | (21,245) | |
Non-cash collateral | 0 | 0 | |
Cash collateral | 0 | 0 | |
Net amount | 7,729 | 6,573 | |
Amounts not subject to enforceable netting arrangements | 31 | 11 | |
Financial liabilities | 26,653 | 27,829 | |
Financial Assets Subject To Offsetting | |||
Financial assets | |||
Gross amounts | 680,326 | 681,384 | |
Amounts offset | (186,919) | (230,282) | |
Net amounts in the balance sheet | 493,407 | 451,102 | |
Financial instruments | (220,643) | (190,062) | |
Non-cash collateral | (217,220) | (209,160) | |
Cash collateral | (47,593) | (38,131) | |
Net amount | 7,951 | 13,749 | |
Amounts not subject to enforceable netting arrangements | 35,922 | 46,409 | |
Financial assets | 529,329 | 497,511 | |
Derivatives | |||
Financial assets | |||
Gross amounts | 277,261 | 250,275 | |
Amounts offset | (41,739) | (49,711) | |
Net amounts in the balance sheet | 235,522 | 200,564 | |
Financial instruments | (171,371) | (145,785) | |
Non-cash collateral | (13,095) | (9,986) | |
Cash collateral | (47,404) | (38,031) | |
Net amount | 3,652 | 6,762 | |
Amounts not subject to enforceable netting arrangements | 7,473 | 7,261 | |
Financial assets | 242,995 | 207,825 | |
Financial liabilities | |||
Cash margins received | 2,350 | 3,935 | |
Trading assets | |||
Financial assets | |||
Gross amounts | 21,465 | 18,217 | |
Amounts offset | (280) | (790) | |
Net amounts in the balance sheet | 21,185 | 17,427 | |
Financial instruments | (1,553) | (1,244) | |
Non-cash collateral | (19,630) | (16,179) | |
Cash collateral | 0 | 0 | |
Net amount | 2 | 4 | |
Amounts not subject to enforceable netting arrangements | 165 | 853 | |
Financial assets | 21,350 | 18,280 | |
Non-trading assets | |||
Financial assets | |||
Gross amounts | 348,561 | 372,358 | |
Amounts offset | (134,772) | (167,313) | |
Net amounts in the balance sheet | 213,789 | 205,045 | |
Financial instruments | (28,826) | (21,788) | |
Non-cash collateral | (184,495) | (182,995) | |
Cash collateral | (189) | (100) | |
Net amount | 279 | 162 | |
Amounts not subject to enforceable netting arrangements | 27,549 | 37,759 | |
Financial assets | 241,338 | 242,804 | |
Loans and advances to customers | |||
Financial assets | |||
Gross amounts | 33,039 | 40,534 | |
Amounts offset | (10,128) | (12,468) | |
Net amounts in the balance sheet | 22,911 | 28,066 | |
Financial instruments | (18,893) | (21,245) | |
Non-cash collateral | 0 | 0 | |
Cash collateral | 0 | 0 | |
Net amount | 4,018 | 6,821 | |
Amounts not subject to enforceable netting arrangements | 735 | 536 | |
Financial assets | $ 23,646 | $ 28,602 |
Called up share capital and o_3
Called up share capital and other equity instruments - Called up share capital and share premium (Details) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | ||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Jan. 01, 2018 | Dec. 31, 2016 | |
Reconciliation of Issued Capital [Roll Forward] | |||||
Issued capital at beginning of period | $ 10,180 | ||||
Shares issued under HSBC employee share plans | 478 | $ 450 | $ 500 | ||
Shares issued in lieu of dividends | 2,687 | 1,494 | 3,206 | ||
Issued capital at end of period | 10,319 | 10,180 | |||
Share premium account | 13,959 | 13,609 | |||
Total equity | $ 192,668 | $ 194,249 | $ 197,871 | $ 196,224 | $ 182,578 |
Ordinary shares | |||||
Disclosure of classes of share capital [line items] | |||||
Par value per share (in dollars per share) | $ 0.50 | ||||
Reconciliation of number of shares outstanding [abstract] | |||||
Number of shares outstanding ending balance (in shares) | 20,360,841,496 | 20,320,716,258 | |||
Shares issued under HSBC employee share plans (in shares) | 71,588,032 | 83,740,460 | |||
Shares issued in lieu of dividends (in shares) | 341,872,011 | 166,850,869 | |||
Less: Shares repurchased and cancelled (in shares) | (135,776,994) | (210,466,091) | |||
Number of shares outstanding ending balance (in shares) | 20,638,524,545 | 20,360,841,496 | 20,320,716,258 | ||
Reconciliation of Issued Capital [Roll Forward] | |||||
Issued capital at beginning of period | $ 10,180 | $ 10,160 | |||
Shares issued under HSBC employee share plans | 36 | 42 | |||
Shares issued in lieu of dividends | 171 | 83 | |||
Less: Shares repurchased and cancelled | (68) | (105) | |||
Issued capital at end of period | $ 10,319 | $ 10,180 | $ 10,160 | ||
Preference shares | |||||
Disclosure of classes of share capital [line items] | |||||
Par value per share (in dollars per share) | $ 0.01 | ||||
Other equity instruments interest rate | 6.20% | ||||
Reconciliation of number of shares outstanding [abstract] | |||||
Number of shares outstanding ending balance (in shares) | 1,450,000 | 1,450,000 | |||
Number of shares outstanding ending balance (in shares) | 1,450,000 | 1,450,000 | 1,450,000 | ||
Reconciliation of Issued Capital [Roll Forward] | |||||
Issued capital at beginning of period | $ 0 | $ 0 | |||
Issued capital at end of period | 0 | 0 | $ 0 | ||
Called up share capital and share premium | |||||
Reconciliation of Issued Capital [Roll Forward] | |||||
Total equity | $ 24,278 | $ 23,789 | $ 20,337 | 20,337 | 22,715 |
Treasury shares | |||||
Reconciliation of number of shares outstanding [abstract] | |||||
Number of shares outstanding ending balance (in shares) | 379,926,645 | 360,590,019 | |||
Number of shares outstanding ending balance (in shares) | 432,108,782 | 379,926,645 | 360,590,019 | ||
HSBC Holdings | |||||
Reconciliation of Issued Capital [Roll Forward] | |||||
Issued capital at beginning of period | $ 10,180 | ||||
Shares issued under HSBC employee share plans | $ (2) | ||||
Shares issued in lieu of dividends | 2,687 | $ 1,494 | 3,205 | ||
Issued capital at end of period | 10,319 | 10,180 | |||
Share premium account | 13,959 | 13,609 | |||
Total equity | $ 145,044 | $ 147,353 | $ 103,787 | $ 104,677 | $ 104,858 |
HSBC Holdings | Treasury shares | |||||
Reconciliation of number of shares outstanding [abstract] | |||||
Number of shares outstanding ending balance (in shares) | 326,503,319 | 326,843,840 | |||
Number of shares outstanding ending balance (in shares) | 326,191,804 | 326,503,319 | 326,843,840 | ||
Reconciliation of Issued Capital [Roll Forward] | |||||
Total equity | $ 2,543 | $ 2,546 | $ 2,542 | ||
Number of shares outstanding, buyback program (in shares) | 325,273,407 |
Called up share capital and o_4
Called up share capital and other equity instruments - Called up share capital and other equity instruments (commentary) (Details) | Dec. 31, 2019£ / shares | Dec. 31, 2019$ / shares |
Preference shares | ||
Disclosure of classes of share capital [line items] | ||
Other equity instruments interest rate | 6.20% | 6.20% |
Par value per share (in dollars per share) | $ / shares | $ 0.01 | |
Sterling preference shares | ||
Disclosure of classes of share capital [line items] | ||
Par value per share (in dollars per share) | £ / shares | £ 0.01 |
Called up share capital and o_5
Called up share capital and other equity instruments - Additional tier 1 capital - contingent convertible securities (Details) - Contingent convertible securities | 12 Months Ended |
Dec. 31, 2019£ / shares | |
Disclosure Of Other Equity [Line Items] | |
Fixed interest rate, period increments | 5 years |
Conversion threshold, common equity tier 1 percentage | 7.00% |
Par value per share upon conversion (in dollars per share) | £ 2.70 |
Called up share capital and o_6
Called up share capital and other equity instruments - HSBC's additional tier 1 capital - contingent convertible securities in issue which are accounted for in equity (Details) | Dec. 31, 2019USD ($) | Dec. 31, 2019GBP (£) | Dec. 31, 2019EUR (€) | Dec. 31, 2019SGD ($) | Dec. 31, 2018USD ($) |
Disclosure Of Other Equity [Line Items] | |||||
Other equity instruments | $ 20,871,000,000 | $ 22,367,000,000 | |||
$1,500m 5.625% Perpetual Subordinated Contingent Convertible Securities | |||||
Disclosure Of Other Equity [Line Items] | |||||
Notional amount | $ 1,500,000,000 | ||||
Other equity instruments interest rate | 5.625% | 5.625% | 5.625% | 5.625% | |
$2,000m 6.875% Perpetual Subordinated Contingent Convertible Securities | |||||
Disclosure Of Other Equity [Line Items] | |||||
Notional amount | $ 2,000,000,000 | ||||
Other equity instruments interest rate | 6.875% | 6.875% | 6.875% | 6.875% | |
$2,250m 6.375% Perpetual Subordinated Contingent Convertible Securities | |||||
Disclosure Of Other Equity [Line Items] | |||||
Notional amount | $ 2,250,000,000 | ||||
Other equity instruments interest rate | 6.375% | 6.375% | 6.375% | 6.375% | |
$2,450m 6.375% Perpetual Subordinated Contingent Convertible Securities | |||||
Disclosure Of Other Equity [Line Items] | |||||
Notional amount | $ 2,450,000,000 | ||||
Other equity instruments interest rate | 6.375% | 6.375% | 6.375% | 6.375% | |
$3,000m 6.000% Perpetual Subordinated Contingent Convertible Securities | |||||
Disclosure Of Other Equity [Line Items] | |||||
Notional amount | $ 3,000,000,000 | ||||
Other equity instruments interest rate | 6.00% | 6.00% | 6.00% | 6.00% | |
$2,350m 6.250% Perpetual Subordinated Contingent Convertible Securities | |||||
Disclosure Of Other Equity [Line Items] | |||||
Notional amount | $ 2,350,000,000 | ||||
Other equity instruments interest rate | 6.25% | 6.25% | 6.25% | 6.25% | |
$1,800m 6.500% Perpetual Subordinated Contingent Convertible Securities | |||||
Disclosure Of Other Equity [Line Items] | |||||
Notional amount | $ 1,800,000,000 | ||||
Other equity instruments interest rate | 6.50% | 6.50% | 6.50% | 6.50% | |
EUR 1,500m 5.250% Perpetual Subordinated Contingent Convertible Securities | |||||
Disclosure Of Other Equity [Line Items] | |||||
Notional amount | € | € 1,500,000,000 | ||||
Other equity instruments interest rate | 5.25% | 5.25% | 5.25% | 5.25% | |
EUR 1,000m 6.000% Perpetual Subordinated Contingent Convertible Securities | |||||
Disclosure Of Other Equity [Line Items] | |||||
Notional amount | € | € 1,000,000,000 | ||||
Other equity instruments interest rate | 6.00% | 6.00% | 6.00% | 6.00% | |
EUR 1,250m 4.750% Perpetual Subordinated Contingent Convertible Securities | |||||
Disclosure Of Other Equity [Line Items] | |||||
Notional amount | € | € 1,250,000,000 | ||||
Other equity instruments interest rate | 4.75% | 4.75% | 4.75% | 4.75% | |
GBP 1,000m 5.875% Perpetual Subordinated Contingent Convertible Securities | |||||
Disclosure Of Other Equity [Line Items] | |||||
Notional amount | £ | £ 1,000,000,000 | ||||
Other equity instruments interest rate | 5.875% | 5.875% | 5.875% | 5.875% | |
SGD 1000m 4.700% Perpetual Subordinated Contingent Convertible Securities | |||||
Disclosure Of Other Equity [Line Items] | |||||
Notional amount | $ 1,000,000,000 | ||||
Other equity instruments interest rate | 4.70% | 4.70% | 4.70% | 4.70% | |
SGD 750m 5.000% Perpetual Subordinated Contingent Convertible Securities | |||||
Disclosure Of Other Equity [Line Items] | |||||
Notional amount | $ 750,000,000 | ||||
Other equity instruments interest rate | 5.00% | 5.00% | 5.00% | 5.00% | |
Contingent convertible securities | |||||
Disclosure Of Other Equity [Line Items] | |||||
Other equity instruments | $ 20,871,000,000 | 22,392,000,000 | |||
Contingent convertible securities | $1,500m 5.625% Perpetual Subordinated Contingent Convertible Securities | |||||
Disclosure Of Other Equity [Line Items] | |||||
Notional amount | $ 1,500,000,000 | ||||
Other equity instruments interest rate | 5.625% | 5.625% | 5.625% | 5.625% | |
Other equity instruments | $ 0 | 1,494,000,000 | |||
Contingent convertible securities | $2,000m 6.875% Perpetual Subordinated Contingent Convertible Securities | |||||
Disclosure Of Other Equity [Line Items] | |||||
Notional amount | $ 2,000,000,000 | ||||
Other equity instruments interest rate | 6.875% | 6.875% | 6.875% | 6.875% | |
Other equity instruments | $ 1,995,000,000 | 1,998,000,000 | |||
Contingent convertible securities | $2,250m 6.375% Perpetual Subordinated Contingent Convertible Securities | |||||
Disclosure Of Other Equity [Line Items] | |||||
Notional amount | $ 2,250,000,000 | ||||
Other equity instruments interest rate | 6.375% | 6.375% | 6.375% | 6.375% | |
Other equity instruments | $ 2,240,000,000 | 2,244,000,000 | |||
Contingent convertible securities | $2,450m 6.375% Perpetual Subordinated Contingent Convertible Securities | |||||
Disclosure Of Other Equity [Line Items] | |||||
Notional amount | $ 2,450,000,000 | ||||
Other equity instruments interest rate | 6.375% | 6.375% | 6.375% | 6.375% | |
Other equity instruments | $ 2,453,000,000 | 2,460,000,000 | |||
Contingent convertible securities | $3,000m 6.000% Perpetual Subordinated Contingent Convertible Securities | |||||
Disclosure Of Other Equity [Line Items] | |||||
Notional amount | $ 3,000,000,000 | ||||
Other equity instruments interest rate | 6.00% | 6.00% | 6.00% | 6.00% | |
Other equity instruments | $ 2,993,000,000 | 2,997,000,000 | |||
Contingent convertible securities | $2,350m 6.250% Perpetual Subordinated Contingent Convertible Securities | |||||
Disclosure Of Other Equity [Line Items] | |||||
Notional amount | $ 2,350,000,000 | ||||
Other equity instruments interest rate | 6.25% | 6.25% | 6.25% | 6.25% | |
Other equity instruments | $ 2,346,000,000 | 2,347,000,000 | |||
Contingent convertible securities | $1,800m 6.500% Perpetual Subordinated Contingent Convertible Securities | |||||
Disclosure Of Other Equity [Line Items] | |||||
Notional amount | $ 1,800,000,000 | ||||
Other equity instruments interest rate | 6.50% | 6.50% | 6.50% | 6.50% | |
Other equity instruments | $ 1,797,000,000 | 1,798,000,000 | |||
Contingent convertible securities | EUR 1,500m 5.250% Perpetual Subordinated Contingent Convertible Securities | |||||
Disclosure Of Other Equity [Line Items] | |||||
Notional amount | € | € 1,500,000,000 | ||||
Other equity instruments interest rate | 5.25% | 5.25% | 5.25% | 5.25% | |
Other equity instruments | $ 1,940,000,000 | 1,943,000,000 | |||
Contingent convertible securities | EUR 1,000m 6.000% Perpetual Subordinated Contingent Convertible Securities | |||||
Disclosure Of Other Equity [Line Items] | |||||
Notional amount | € | € 1,000,000,000 | ||||
Other equity instruments interest rate | 6.00% | 6.00% | 6.00% | 6.00% | |
Other equity instruments | $ 1,119,000,000 | 1,120,000,000 | |||
Contingent convertible securities | EUR 1,250m 4.750% Perpetual Subordinated Contingent Convertible Securities | |||||
Disclosure Of Other Equity [Line Items] | |||||
Notional amount | € | € 1,250,000,000 | ||||
Other equity instruments interest rate | 4.75% | 4.75% | 4.75% | 4.75% | |
Other equity instruments | $ 1,418,000,000 | 1,420,000,000 | |||
Contingent convertible securities | GBP 1,000m 5.875% Perpetual Subordinated Contingent Convertible Securities | |||||
Disclosure Of Other Equity [Line Items] | |||||
Notional amount | £ | £ 1,000,000,000 | ||||
Other equity instruments interest rate | 5.875% | 5.875% | 5.875% | 5.875% | |
Other equity instruments | $ 1,299,000,000 | 1,299,000,000 | |||
Contingent convertible securities | SGD 1000m 4.700% Perpetual Subordinated Contingent Convertible Securities | |||||
Disclosure Of Other Equity [Line Items] | |||||
Notional amount | $ 1,000,000,000 | ||||
Other equity instruments interest rate | 4.70% | 4.70% | 4.70% | 4.70% | |
Other equity instruments | $ 722,000,000 | 723,000,000 | |||
Contingent convertible securities | SGD 750m 5.000% Perpetual Subordinated Contingent Convertible Securities | |||||
Disclosure Of Other Equity [Line Items] | |||||
Notional amount | $ 750,000,000 | ||||
Other equity instruments interest rate | 5.00% | 5.00% | 5.00% | 5.00% | |
Other equity instruments | $ 549,000,000 | $ 549,000,000 |
Called up share capital and o_7
Called up share capital and other equity instruments - Aggregate options outstanding under these plans (Details) | Dec. 31, 2019GBP (£)shares | Dec. 31, 2018GBP (£)shares | Dec. 31, 2017shares |
Disclosure of range of exercise prices of outstanding share options [line items] | |||
Number of HSBC Holdings ordinary shares (in shares) | shares | 65,060,000 | 57,065,000 | 64,670,000 |
£4.0472–£5.9640 | |||
Disclosure of range of exercise prices of outstanding share options [line items] | |||
Number of HSBC Holdings ordinary shares (in shares) | shares | 65,060,681 | 57,065,513 | |
£4.0472–£5.9640 | Bottom of range | |||
Disclosure of range of exercise prices of outstanding share options [line items] | |||
Exercise price of outstanding share options (in GBP per share) | £ | £ 4.0472 | £ 4.0472 | |
£4.0472–£5.9640 | Top of range | |||
Disclosure of range of exercise prices of outstanding share options [line items] | |||
Exercise price of outstanding share options (in GBP per share) | £ | £ 5.9640 | £ 5.9640 |
Called up share capital and o_8
Called up share capital and other equity instruments - Maximum obligation to deliver HSBC Holdings ordinary shares (Details) - shares | Dec. 31, 2019 | Dec. 31, 2018 |
Share Capital, Reserves And Other Equity Interest [Abstract] | ||
Maximum shares required to deliver all outstanding options (in shares) | 163,567,253 | 152,667,912 |
Number of shares held in employee benefit trust (in shares) | 5,397,395 | 5,928,890 |
Contingent liabilities, contr_3
Contingent liabilities, contractual commitments and guarantees - Summary of Contingent Liabilities, Guarantees, and Commitments (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of contingent liabilities [line items] | ||
Guarantees and other contingent liabilities | $ 97,723 | $ 96,410 |
Commitments | 797,608 | 780,266 |
Off-balance sheet commitments | 273,380 | 259,643 |
– documentary credits and short-term trade-related transactions | ||
Disclosure of contingent liabilities [line items] | ||
Commitments | 6,316 | 7,083 |
– forward asset purchases and forward deposits placed | ||
Disclosure of contingent liabilities [line items] | ||
Commitments | 56,326 | 67,265 |
– standby facilities, credit lines and other commitments to lend | ||
Disclosure of contingent liabilities [line items] | ||
Commitments | 734,966 | 705,918 |
Loan and other credit-related commitments | ||
Disclosure of contingent liabilities [line items] | ||
Off-balance sheet commitments | 197,579 | 188,258 |
HSBC Holdings | ||
Disclosure of contingent liabilities [line items] | ||
Guarantees and other contingent liabilities | 11,350 | 8,842 |
Commitments | 0 | 0 |
HSBC Holdings | – documentary credits and short-term trade-related transactions | ||
Disclosure of contingent liabilities [line items] | ||
Commitments | 0 | 0 |
HSBC Holdings | – forward asset purchases and forward deposits placed | ||
Disclosure of contingent liabilities [line items] | ||
Commitments | 0 | 0 |
HSBC Holdings | – standby facilities, credit lines and other commitments to lend | ||
Disclosure of contingent liabilities [line items] | ||
Commitments | 0 | 0 |
– financial guarantees | ||
Disclosure of contingent liabilities [line items] | ||
Guarantees and other contingent liabilities | 20,214 | 23,518 |
– financial guarantees | HSBC Holdings | ||
Disclosure of contingent liabilities [line items] | ||
Guarantees and other contingent liabilities | 11,061 | 8,627 |
– performance and other guarantees | ||
Disclosure of contingent liabilities [line items] | ||
Guarantees and other contingent liabilities | 75,933 | 71,484 |
– performance and other guarantees | HSBC Holdings | ||
Disclosure of contingent liabilities [line items] | ||
Guarantees and other contingent liabilities | 0 | 0 |
– other contingent liabilities | ||
Disclosure of contingent liabilities [line items] | ||
Guarantees and other contingent liabilities | 1,576 | 1,408 |
– other contingent liabilities | HSBC Holdings | ||
Disclosure of contingent liabilities [line items] | ||
Guarantees and other contingent liabilities | 289 | 215 |
IFRS 9 | ||
Disclosure of contingent liabilities [line items] | ||
Off-balance sheet commitments | 619,866 | 615,108 |
IFRS 9 | Loan and other credit-related commitments | ||
Disclosure of contingent liabilities [line items] | ||
Off-balance sheet commitments | 599,700 | 591,683 |
Gross amount | ||
Disclosure of contingent liabilities [line items] | ||
Off-balance sheet commitments | 273,512 | 259,742 |
Gross amount | Loan and other credit-related commitments | ||
Disclosure of contingent liabilities [line items] | ||
Off-balance sheet commitments | 197,579 | 188,258 |
Gross amount | IFRS 9 | ||
Disclosure of contingent liabilities [line items] | ||
Off-balance sheet commitments | 620,243 | 615,526 |
Gross amount | IFRS 9 | Loan and other credit-related commitments | ||
Disclosure of contingent liabilities [line items] | ||
Off-balance sheet commitments | $ 600,029 | $ 592,008 |
Contingent liabilities, contr_4
Contingent liabilities, contractual commitments and guarantees - Narrative (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of contingent liabilities [line items] | ||
Estimated financial effect of contingent liabilities | $ 97,723 | $ 96,410 |
Associates | ||
Disclosure of contingent liabilities [line items] | ||
Estimated financial effect of contingent liabilities | $ 46,700 | $ 48,500 |
Finance lease receivables - Sum
Finance lease receivables - Summary of lease receivables (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Total future minimum payments | $ 14,595 | $ 14,681 |
Unearned finance income | (1,345) | (1,443) |
Present value | 13,250 | 13,238 |
No later than one year | ||
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Total future minimum payments | 1,674 | 2,229 |
Unearned finance income | (157) | (196) |
Present value | 1,517 | 2,033 |
Later than one year and no later than five years | ||
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Total future minimum payments | 6,785 | 7,420 |
Unearned finance income | (574) | (628) |
Present value | 6,211 | 6,792 |
One to two years | ||
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Total future minimum payments | 1,634 | |
Unearned finance income | (155) | |
Present value | 1,479 | |
Two to three years | ||
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Total future minimum payments | 1,889 | |
Unearned finance income | (151) | |
Present value | 1,738 | |
Three to four years | ||
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Total future minimum payments | 1,704 | |
Unearned finance income | (136) | |
Present value | 1,568 | |
Four to five years | ||
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Total future minimum payments | 1,558 | |
Unearned finance income | (132) | |
Present value | 1,426 | |
Later than five years | ||
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Total future minimum payments | 6,136 | 5,032 |
Unearned finance income | (614) | (619) |
Present value | $ 5,522 | $ 4,413 |
Legal proceedings and regulat_2
Legal proceedings and regulatory matters (Details) € in Millions, $ in Millions, $ in Billions | 1 Months Ended | 2 Months Ended | 3 Months Ended | 5 Months Ended | 12 Months Ended | 24 Months Ended | ||||||||||
Dec. 31, 2019USD ($) | Oct. 31, 2019EUR (€)complaint | Sep. 30, 2019complaint | Mar. 31, 2019complaint | Sep. 30, 2018lawsuit | Jan. 31, 2018 | Feb. 28, 2017financial_institution | Dec. 31, 2016 | Apr. 30, 2016complaint | Jul. 31, 2014CAD ($) | Aug. 31, 2016lawsuit | Mar. 31, 2019lawsuit | Nov. 30, 2015complaint | Dec. 31, 2019USD ($)complaintaction | Dec. 31, 2018USD ($)plaintiff | Nov. 30, 2008USD ($) | |
Disclosure of contingent liabilities [line items] | ||||||||||||||||
Estimated financial effect of contingent liabilities | $ | $ 97,723 | $ 97,723 | $ 96,410 | |||||||||||||
Benchmark rate litigation | ||||||||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||||||||
Infringement period | 1 month | |||||||||||||||
Number of groups of plaintiffs | plaintiff | 5 | |||||||||||||||
Benchmark Rate Litigation, Intercontinental Exchange Libor | ||||||||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||||||||
New claims filed | lawsuit | 3 | |||||||||||||||
Benchmark Rate Litigation, Sibor, SOR, and BBSW | ||||||||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||||||||
New claims filed | lawsuit | 2 | |||||||||||||||
Foreign exchange rate investigations and litigation | ||||||||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||||||||
Deferred prosecution agreement period | 3 years | |||||||||||||||
New claims filed | lawsuit | 2 | |||||||||||||||
Number of financial institutions included in complaint for proceedings | financial_institution | 18 | |||||||||||||||
Precious metals fix-related litigation | ||||||||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||||||||
New claims filed | 2 | |||||||||||||||
Other regulatory investigations, reviews and litigation | ||||||||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||||||||
Number of pending claims | action | 2 | |||||||||||||||
Legal proceedings contingent liability | Madoff litigation | ||||||||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||||||||
Estimated financial effect of contingent liabilities | $ | 500 | $ 500 | ||||||||||||||
Madoff Securities | ||||||||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||||||||
Aggregate value of funds with assets invested in securities under litigation | $ | $ 8,400 | |||||||||||||||
Estimated fund transfers, less withdrawals from securities under litigation | $ | $ 4,000 | |||||||||||||||
HSBC Holdings | ||||||||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||||||||
Estimated financial effect of contingent liabilities | $ | $ 11,350 | $ 11,350 | $ 8,842 | |||||||||||||
HSBC Holdings | Anti-money laundering and sanctions-related matters | ||||||||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||||||||
Damages sought | $ | $ 20 | |||||||||||||||
HSBC Holdings | Anti-money laundering and sanctions-related matters | New York | ||||||||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||||||||
Number of pending claims | 10 | |||||||||||||||
Number of pending claims with motions to dismiss | 3 | |||||||||||||||
Number of claims dismissed | 1 | 1 | 1 | |||||||||||||
Number of claims seeking amendment | 1 | |||||||||||||||
Number of claims on appeal | 2 | |||||||||||||||
Number of new pending claims with motions to dismiss | 3 | |||||||||||||||
Number of pending claims at an early stage | 4 | |||||||||||||||
HSBC Private Bank (Suisse) SA | Tax-related investigation | ||||||||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||||||||
Settlement amount | € | € 295 | |||||||||||||||
Deferred prosecution agreement period | 3 years | |||||||||||||||
Damages awarded | $ | $ 192 | |||||||||||||||
HSBC Private Bank (UK) Limited | Film finance litigation | ||||||||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||||||||
Number of new claims filed | 2 |
Related party transactions - Su
Related party transactions - Summary of compensation of key management personnel (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Related Party [Abstract] | |||
Short-term employee benefits | $ 64 | $ 52 | $ 43 |
Other long-term employee benefits | 8 | 6 | 5 |
Share-based payments | 27 | 34 | 35 |
Total | $ 99 | $ 92 | $ 83 |
Related party transactions - _2
Related party transactions - Summary of shareholdings, options and other securities of key management personnel (Details) shares in Thousands | Dec. 31, 2019shares | Dec. 31, 2018shares | Dec. 31, 2017shares |
Disclosure of transactions between related parties [line items] | |||
Number of options held over HSBC Holdings ordinary shares under employee share plans (in shares) | 65,060 | 57,065 | 64,670 |
Key management personnel of entity or parent | |||
Disclosure of transactions between related parties [line items] | |||
Number of options held over HSBC Holdings ordinary shares under employee share plans (in shares) | 18 | 24 | |
Number of HSBC Holdings ordinary shares held beneficially and non-beneficially (in shares) | 15,546 | 17,940 | |
Shareholdings, options and other securities of Key Management Personnel (in shares) | 15,564 | 17,964 |
Related party transactions - _3
Related party transactions - Summary of transactions and balances during the year with key management personnel (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Key management personnel of entity or parent | ||
Disclosure of transactions between related parties [line items] | ||
Advances and credits | $ 283 | $ 169 |
Guarantees | 34 | 0.6 |
Deposits | 268 | 300 |
Advances and credits, highest amount during the year | 328 | 288 |
Guarantees, highest amount during the year | 34 | 0.6 |
Deposits, highest amount during the year | 659 | 802 |
Director | ||
Disclosure of transactions between related parties [line items] | ||
Advances and credits | $ 3 | $ 1 |
Related party transactions - _4
Related party transactions - Summary of transactions and balances during the year with associates and joint ventures (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Joint Venture And Associates | ||
Disclosure of transactions between related parties [line items] | ||
Guarantees and commitments, highest amount during the year | $ 647 | $ 790 |
Guarantees and commitments | 407 | 523 |
Joint ventures where entity is venturer | ||
Disclosure of transactions between related parties [line items] | ||
Amounts due to joint ventures and associates, highest amount during the year | 28 | 22 |
Amounts due to joint ventures and associates | 28 | 22 |
Associates | ||
Disclosure of transactions between related parties [line items] | ||
Amounts due to joint ventures and associates, highest amount during the year | 2,517 | 2,020 |
Amounts due to joint ventures and associates | 516 | 273 |
Unsubordinated Accounts Receivable | Joint ventures where entity is venturer | ||
Disclosure of transactions between related parties [line items] | ||
Amounts due from joint ventures and associates, highest amount during the year | 132 | 130 |
Amounts due from joint ventures and associates | 123 | 115 |
Unsubordinated Accounts Receivable | Associates | ||
Disclosure of transactions between related parties [line items] | ||
Amounts due from joint ventures and associates, highest amount during the year | 4,554 | 3,887 |
Amounts due from joint ventures and associates | $ 2,054 | $ 3,000 |
Related party transactions - _5
Related party transactions - Summary of post-employment benefits (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Subsidiaries | ||
Disclosure of transactions between related parties [line items] | ||
Post-employment benefit plan assets under management of subsidiary | $ 5,400,000,000 | $ 4,400,000,000 |
Related party management fees | 8,000,000 | 8,000,000 |
Retirement benefit plan deposit assets placed at related party | 530,000,000 | 297,000,000 |
Retirement benefit plan interest income earned from related party | 300,000 | 206,000 |
HSBC Bank (UK) Pension Scheme | Other related parties | ||
Disclosure of transactions between related parties [line items] | ||
Notional amount with related party | 9,900,000,000 | 10,500,000,000 |
Derivative assets with related party | 1,200,000,000 | 1,000,000,000 |
Cash collateral received with related party | $ 1,200,000,000 | $ 1,000,000,000 |
Related party transactions - _6
Related party transactions - Summary of transactions and balances during the year with subsidiaries (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Assets | |||
Derivatives | $ 242,995 | $ 207,825 | |
Loans and advances to HSBC undertakings | 69,203 | 72,167 | |
Prepayments, accrued income and other assets | 136,680 | 110,571 | |
Total assets | 2,715,152 | 2,558,124 | $ 2,521,771 |
Liabilities | |||
Derivatives | 239,497 | 205,835 | |
Subordinated liabilities | 24,600 | 22,437 | |
Total liabilities | 2,522,484 | 2,363,875 | |
Subsidiaries | |||
Assets, highest amount during the year | |||
Cash and balances with HSBC undertakings | 5,029 | 16,473 | |
Financial assets with HSBC undertakings designated and otherwise mandatorily measured at fair value | 61,964 | 23,513 | |
Derivatives | 3,902 | 1,235 | |
Loans and advances to HSBC undertakings | 43,436 | 77,311 | |
Prepayments, accrued income and other assets | 655 | 0 | |
Investments in subsidiaries | 163,258 | 160,231 | |
Total related party assets at 31 Dec | 278,244 | 278,763 | |
Assets | |||
Cash and balances with HSBC undertakings | 2,382 | 3,509 | |
Financial assets with HSBC undertakings designated and otherwise mandatorily measured at fair value | 61,964 | 23,513 | |
Derivatives | 2,002 | 707 | |
Loans and advances to HSBC undertakings | 10,218 | 56,144 | |
Prepayments, accrued income and other assets | 480 | 0 | |
Investments in subsidiaries | 161,473 | 160,231 | |
Total assets | 238,519 | 244,104 | |
Liabilities, highest amount during the year | |||
Amounts owed to HSBC undertakings | 1,553 | 2,040 | |
Derivatives | 2,183 | 3,639 | |
Subordinated liabilities | 892 | 892 | |
Total related party liabilities at 31 Dec | 4,628 | 6,571 | |
Liabilities | |||
Amounts owed to HSBC undertakings | 464 | 949 | |
Derivatives | 2,021 | 2,159 | |
Subordinated liabilities | 892 | 892 | |
Total liabilities | 3,377 | 4,000 | |
Guarantees and commitments, highest amount during the year | 11,541 | 11,629 | |
Guarantees and commitments | $ 11,061 | $ 8,627 |
Events after the balance shee_2
Events after the balance sheet date (Details) $ / shares in Units, $ in Millions | 12 Months Ended |
Dec. 31, 2019USD ($)$ / shares | |
Events After Reporting Period [Abstract] | |
Dividends declared before financial statements authorised for issue, per share (in dollars per share) | $ / shares | $ 0.21 |
Dividends declared before financial statements authorized for issue | $ | $ 4,266 |
HSBC Holdings' subsidiaries, _3
HSBC Holdings' subsidiaries, joint ventures and associates - Subsidiaries (Details) | 12 Months Ended |
Dec. 31, 2019 | |
Almacenadora Banpacifico S.A. (In Liquidation) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Assetfinance December (F) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Assetfinance December (H) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Assetfinance December (M) Limited (In Liquidation) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Assetfinance December (P) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Assetfinance December (R) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Assetfinance June (A) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Assetfinance June (D) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Assetfinance Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Assetfinance March (B) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Assetfinance March (D) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Assetfinance March (F) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Assetfinance September (F) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Assetfinance September (G) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
B&Q Financial Services Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Banco Nominees (Guernsey) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Banco Nominees 2 (Guernsey) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Banco Nominees Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Beijing Miyun HSBC Rural Bank Company Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Billingsgate Nominees Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Canada Crescent Nominees (UK) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Canada Square Nominees (UK) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Capco/Cove, Inc. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Card-Flo 1, Inc. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Card-Flo 3, Inc. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
CCF & Partners Asset Management Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
CCF & Partners Asset Management Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
CCF Holding (LIBAN) S.A.L. (In Liquidation) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 74.99% |
Charterhouse Administrators ( D.T.) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Charterhouse Administrators ( D.T.) Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Charterhouse Management Services Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Charterhouse Management Services Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Charterhouse Pensions Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Chongqing Dazu HSBC Rural Bank Company Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Chongqing Fengdu HSBC Rural Bank Company Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Chongqing Rongchang HSBC Rural Bank Company Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
CL Residential Limited (In Liquidation) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Cordico Management AG (In Liquidation) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Dalian Pulandian HSBC Rural Bank Company Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Dem 9 | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Dem 9 | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Dempar 1 | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Dempar 1 | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Desarrollo Turistico, S.A. de C.V. (In Liquidation) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Desarrollo Turistico, S.A. de C.V. (In Liquidation) | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.79% |
Electronic Data Process México, S.A. de C.V. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Elysées Immo Invest | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Elysées Immo Invest | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Equator Holdings Limited (In Liquidation) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Eton Corporate Services Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Far East Leasing SA (In Dissolution) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Finanpar 7 | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Finanpar 7 | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Flandres Contentieux S.A. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Flandres Contentieux S.A. | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Foncière Elysées | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Foncière Elysées | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Fujian Yongan HSBC Rural Bank Company Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Fulcher Enterprises Company Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Fulcher Enterprises Company Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 62.14% |
Fundacion HSBC, A.C. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Fundacion HSBC, A.C. | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Giller Ltd. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Griffin International Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Grupo Financiero HSBC, S. A. de C. V. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Guangdong Enping HSBC Rural Bank Company Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Hang Seng (Nominee) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Hang Seng (Nominee) Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 62.14% |
Hang Seng Bank (China) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Hang Seng Bank (China) Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 62.14% |
Hang Seng Bank (Trustee) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Hang Seng Bank (Trustee) Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 62.14% |
Hang Seng Bank Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 62.14% |
Hang Seng Bank Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 62.14% |
Hang Seng Bullion Company Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Hang Seng Bullion Company Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 62.14% |
Hang Seng Credit Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Hang Seng Credit Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 62.14% |
Hang Seng Data Services Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Hang Seng Data Services Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 62.14% |
Hang Seng Finance Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Hang Seng Finance Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 62.14% |
Hang Seng Financial Information Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Hang Seng Financial Information Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 62.14% |
Hang Seng Indexes Company Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Hang Seng Indexes Company Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 62.14% |
Hang Seng Insurance Company Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Hang Seng Insurance Company Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 62.14% |
Hang Seng Investment Management Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Hang Seng Investment Management Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 62.14% |
Hang Seng Investment Services Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Hang Seng Investment Services Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 62.14% |
Hang Seng Life Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Hang Seng Life Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 62.14% |
Hang Seng Real Estate Management Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Hang Seng Real Estate Management Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 62.14% |
Hang Seng Securities Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Hang Seng Securities Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 62.14% |
Hang Seng Security Management Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Hang Seng Security Management Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 62.14% |
Haseba Investment Company Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Haseba Investment Company Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 62.14% |
HFC Bank Limited (In Liquidation) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
High Time Investments Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
High Time Investments Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 62.14% |
Honey Green Enterprises Ltd. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Household International Europe Limited (In Liquidation) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Household Pooling Corporation | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HRMG Nominees Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC (BGF) Investments Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC (General Partner) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC (Guernsey) GP PCC Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC (Kuala Lumpur) Nominees Sdn Bhd | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC (Malaysia) Trustee Berhad | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC (Singapore) Nominees Pte Ltd | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Agency (India) Private Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Alternative Investments Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Amanah Malaysia Berhad | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Americas Corporation (Delaware) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Argentina Holdings S.A. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Asia Holdings B.V. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Asia Holdings Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Asia Pacific Holdings (UK) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Asset Finance (UK) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Asset Finance Holdings Limited (In Liquidation) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Asset Finance M.O.G. Holdings (UK) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Asset Management (India) Private Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Assurances Vie (France) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Assurances Vie (France) | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
HSBC Australia Holdings Pty Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Bank (Chile) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Bank (China) Company Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Bank (China) Company Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Bank (General Partner) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Bank (Mauritius) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Bank (Singapore) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Bank (Taiwan) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Bank (Uruguay) S.A. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Bank (Vietnam) Ltd. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Bank A.S. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Bank A.S. | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
HSBC Bank Argentina S.A. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.00% |
HSBC Bank Armenia cjsc | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 70.00% |
HSBC Bank Australia Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Bank Bermuda Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Bank Canada | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Bank Canada | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Bank Egypt S.A.E | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 94.54% |
HSBC Bank Malaysia Berhad | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Bank Malaysia Berhad | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Bank Malta p.l.c. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 70.03% |
HSBC Bank Middle East Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Bank Middle East Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Bank Middle East Limited Representative Office Morocco SARL (In Liquidation) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Bank Oman S.A.O.G. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 51.00% |
HSBC Bank Pension Trust (UK) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Bank plc | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Bank plc | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Bank USA, National Association | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Branch Nominee (UK) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Brasil Holding S.A. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Brasil Holding S.A. | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
HSBC Brasil S.A. Banco de Investimento | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Brasil S.A. Banco de Investimento | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
HSBC Broking Forex (Asia) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Broking Futures (Asia) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Broking Futures (Hong Kong) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Broking Securities (Asia) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Broking Securities (Hong Kong) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Broking Services (Asia) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Canadian Covered Bond (Legislative) GP Inc. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Capital (USA), Inc. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Capital Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Card Services Inc. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Casa de Bolsa, S.A. de C.V., Grupo Financiero HSBC | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Casa de Bolsa, S.A. de C.V., Grupo Financiero HSBC | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
HSBC Cayman Limited [Member] | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Cayman Services Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC City Funding Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Client Holdings Nominee (UK) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Client Nominee (Jersey) Limited [Member] | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Client Share Offer Nominee (UK) Limited (In Liquidation) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Corporate Advisory (Malaysia) Sdn Bhd | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Corporate Finance (Hong Kong) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Corporate Trustee Company (UK) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Custody Nominees (Australia) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Custody Services (Guernsey) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Custody Services (Guernsey) Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
HSBC Daisy Investments (Mauritius) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Electronic Data Processing (Guangdong) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Electronic Data Processing (Malaysia) Sdn Bhd | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Electronic Data Processing (Philippines), Inc. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.00% |
HSBC Electronic Data Processing India Private Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Electronic Data Processing India Private Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
HSBC Electronic Data Processing Lanka (Private) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Electronic Data Processing Lanka (Private) Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
HSBC Electronic Data Service Delivery (Egypt) S.A.E. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Electronic Data Service Delivery (Egypt) S.A.E. | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
HSBC Enterprise Investment Company (UK) Limited (In Liquidation) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Epargne Entreprise (France) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Epargne Entreprise (France) | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
HSBC Equator (UK) Limited (In Liquidation) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Equipment Finance (UK) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Equity (UK) Limited [Member] | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Europe B.V. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Europe B.V. | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
HSBC Executor & Trustee Company (UK) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Factoring (France) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Factoring (France) | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
HSBC Finance (Netherlands) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Finance Corporation | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Finance Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Group Management Services Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Finance Transformation (UK) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Financial Services (Lebanon) s.a.l. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.60% |
HSBC Financial Services (Middle East) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Financial Services (Uruguay) S.A. (In Liquidation) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC France | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.00% |
HSBC France | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
HSBC Fund Services (Korea) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 92.96% |
HSBC Germany Holdings GmbH | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Global Asset Management (Bermuda) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Global Asset Management (Canada) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Global Asset Management (Deutschland) GmbH | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Global Asset Management (Deutschland) GmbH | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 80.67% |
HSBC Global Asset Management (France) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Global Asset Management (France) | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
HSBC Global Asset Management (Hong Kong) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Global Asset Management (International) Limited (In Liquidation) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Global Asset Management (Japan) K. K. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Global Asset Management (Malta) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Global Asset Management (Malta) Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 70.00% |
HSBC Global Asset Management (México), S.A. de C.V., Sociedad Operadora de Fondos de Inversión, Grupo Financiero HSBC | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Global Asset Management (México), S.A. de C.V., Sociedad Operadora de Fondos de Inversión, Grupo Financiero HSBC | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
HSBC Global Asset Management (Oesterreich) GmbH | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Global Asset Management (Oesterreich) GmbH | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 80.67% |
HSBC Global Asset Management (Singapore) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Global Asset Management (Switzerland) AG | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Global Asset Management (Switzerland) AG | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 90.33% |
HSBC Global Asset Management (Taiwan) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Global Asset Management (UK) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Global Asset Management (USA) Inc. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Global Asset Management Argentina S.A. Sociedad Gerente de Fondos Comunes de Inversión [Member] | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Global Asset Management Argentina S.A. Sociedad Gerente de Fondos Comunes de Inversión [Member] | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
HSBC Global Asset Management Holdings (Bahamas) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Global Asset Management Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Global Custody Nominee (UK) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Global Custody Proprietary Nominee (UK) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Global Services (Canada) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Global Services (China) Holdings Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Global Services (Hong Kong) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Global Services (UK) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Global Services Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Global Shared Services (India) Private Limited (In Liquidation) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Group Management Services Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Group Nominees UK Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Holdings B.V. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC IM Pension Trust Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Infrastructure Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC INKA Investment-AG TGV | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC INKA Investment-AG TGV | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 80.67% |
HSBC Inmobiliaria (Mexico), S.A. de C.V. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Inmobiliaria (Mexico), S.A. de C.V. | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
HSBC Institutional Trust Services (Asia) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Institutional Trust Services (Bermuda) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Institutional Trust Services (Mauritius) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Institutional Trust Services (Singapore) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Insurance (Asia) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Insurance (Asia-Pacific) Holdings Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Insurance (Bermuda) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Insurance (Singapore) Pte. Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Insurance Agency (USA) Inc. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Insurance Brokers (Philippines) Inc. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Insurance Holdings Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Insurance SAC 1 (Bermuda) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Insurance SAC 2 (Bermuda) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Insurance Services (Lebanon) S.A.L. (In Liquidation) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Insurance Services Holdings Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC International Finance Corporation (Delaware) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC International Holdings (Jersey) Limited (In Liquidation) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC International Holdings (Jersey) Limited (In Liquidation) | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
HSBC International Trustee (BVI) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC International Trustee (Holdings) Pte. Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC International Trustee Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Inversiones S.A. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
HSBC InvestDirect (India) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.54% |
HSBC InvestDirect Financial Services (India) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
HSBC InvestDirect Financial Services (India) Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.54% |
HSBC InvestDirect Sales & Marketing (India) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 98.99% |
HSBC InvestDirect Sales & Marketing (India) Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 98.54% |
HSBC InvestDirect Securities (India) Private Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
HSBC InvestDirect Securities (India) Private Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.78% |
HSBC Investment Bank Holdings B.V. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Investment Bank Holdings Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Investment Company (Egypt) S.A.E (In Liquidation) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 94.54% |
HSBC Investment Company Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Investment Funds (Canada) Inc. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Investment Funds (Hong Kong) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Investment Funds (Luxembourg) SA | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Investment Funds (Luxembourg) SA | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
HSBC Invoice Finance (UK) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Issuer Services Common Depositary Nominee (UK) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Issuer Services Depositary Nominee (UK) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Latin America B.V. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Latin America Holdings (UK) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Leasing (Asia) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Leasing (France) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Leasing (France) | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
HSBC Life (International) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Life (International) Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Life (Property) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Life (UK) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Life Assurance (Malta) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Life Assurance (Malta) Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 70.03% |
HSBC Life Insurance Company Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 50.00% |
HSBC LU Nominees Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Management (Guernsey) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Markets (USA) Inc. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Marking Name Nominee (UK) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Master Trust Trustee Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Mexico, S.A., Institucion de Banca Multiple, Grupo Financiero HSBC | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
HSBC Middle East Finance Company Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 80.00% |
HSBC Middle East Holdings B.V. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Mortgage Corporation (Canada) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Mortgage Corporation (USA) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Nominees (Asing) Sdn Bhd | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Nominees (Hong Kong) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Nominees (New Zealand) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Nominees (Tempatan) Sdn Bhd | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC North America Holdings Inc. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Operational Services GmbH | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 90.10% |
HSBC Operational Services GmbH | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 72.68% |
HSBC Overseas Holdings (UK) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Overseas Investments Corporation (New York) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Overseas Nominee (UK) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Participaciones (Argentina) S.A. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Participaciones (Argentina) S.A. | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
HSBC PB Corporate Services 1 Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC PB Services (Suisse) SA | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Pension Trust (Ireland) DAC | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Pensiones, S.A. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC PI Holdings (Mauritius) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Portfoy Yonetimi A.S. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Portfoy Yonetimi A.S. | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
HSBC Preferential LP (UK) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Private Bank (C.I.) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Private Bank (Luxembourg) S.A. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Private Bank (Suisse) SA | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Private Bank (UK) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Private Bank International | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Private Banking Holdings (Suisse) SA | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Private Banking Nominee 3 (Jersey) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Private Equity Investments (UK) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Private Trustee (Hong Kong) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Private Wealth Services (Canada) Inc. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Professional Services (India) Private Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Property (UK) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Property Funds (Holding) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Provident Fund Trustee (Hong Kong) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Qianhai Securities Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Qianhai Securities Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 51.00% |
HSBC Real Estate Leasing (France) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Real Estate Leasing (France) | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
HSBC Realty Credit Corporation (USA) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC REGIO Fund General Partner S.à r.l. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC REGIO Fund General Partner S.à r.l. | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
HSBC REIM (France) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC REIM (France) | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
HSBC Representative Office (Nigeria) Limited (In Liquidation) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Retirement Benefits Trustee (UK) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Retirement Services Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Saudi Arabia | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 51.00% |
HSBC Saudi Arabia | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 61.60% |
HSBC Savings Bank (Philippines) Inc. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
HSBC Securities (Asia) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Securities (Canada) Inc. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Securities (Egypt) S.A.E. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Securities (Egypt) S.A.E. | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 94.54% |
HSBC Securities (Japan) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Securities (Philippines) Inc. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
HSBC Securities (Singapore) Pte Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Securities (South Africa) (Pty) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Securities (Taiwan) Corporation Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Securities (USA) Inc. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Securities and Capital Markets (India) Private Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
HSBC Securities Asia International Nominees Limited (In Liquidation) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Securities Asia Nominees Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Securities Brokers (Asia) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Securities Investments (Asia) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Securities Services (Bermuda) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Securities Services (Guernsey) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Securities Services (Ireland) DAC | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Securities Services (Luxembourg) S.A. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Securities Services Holdings (Ireland) DAC | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Securities Services Nominees Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Seguros de Retiro (Argentina) S.A. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Seguros de Retiro (Argentina) S.A. | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
HSBC Seguros de Vida (Argentina) S.A. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Seguros de Vida (Argentina) S.A. | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
HSBC Seguros, S.A de C.V., Grupo Financiero HSBC | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
HSBC Service Delivery (Polska) Sp. z o.o. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Services (France) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Services (France) | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
HSBC Services Japan Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Services USA Inc. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Servicios Financieros, S.A. de C.V | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Servicios Financieros, S.A. de C.V | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
HSBC Servicios, S.A. DE C.V., Grupo Financiero HSBC | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Servicios, S.A. DE C.V., Grupo Financiero HSBC | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
HSBC SFH (France) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC SFH (France) | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
HSBC Software Development (Guangdong) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Software Development (India) Private Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Software Development (Malaysia) Sdn Bhd | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Specialist Investments Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Stockbrokers Nominee (UK) Limited (In Liquidation) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Technology & Services (China) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Technology & Services (USA) Inc. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Transaction Services GmbH | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Transaction Services GmbH | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 80.67% |
HSBC Trinkaus & Burkhardt (International) S.A. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Trinkaus & Burkhardt (International) S.A. | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 80.67% |
HSBC Trinkaus & Burkhardt AG | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 80.67% |
HSBC Trinkaus & Burkhardt AG | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 80.67% |
HSBC Trinkaus & Burkhardt Gesellschaft fur Bankbeteiligungen mbH | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Trinkaus & Burkhardt Gesellschaft fur Bankbeteiligungen mbH | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 80.67% |
HSBC Trinkaus Europa Immobilien-Fonds Nr. 5 GmbH | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Trinkaus Europa Immobilien-Fonds Nr. 5 GmbH | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 80.67% |
HSBC Trinkaus Family Office GmbH | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Trinkaus Family Office GmbH | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 80.67% |
HSBC Trinkaus Immobilien Beteiligungs KG | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Trinkaus Immobilien Beteiligungs KG | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 80.67% |
HSBC Trinkaus Real Estate GmbH | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Trinkaus Real Estate GmbH | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 80.67% |
HSBC Trust Company (Canada) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Trust Company (Delaware), National Association | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Trust Company (UK) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Trust Company AG (In Liquidation) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Trustee (C.I.) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Trustee (Cayman) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Trustee (Guernsey) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Trustee (Hong Kong) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Trustee (Singapore) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC UK Bank plc | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC UK Bank plc | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC UK Client Nominee Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC UK Holdings Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC USA Inc. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Ventures USA Inc. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Violet Investments (Mauritius) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Wealth Client Nominee Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Yatirim Menkul Degerler A.S. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSI Asset Securitization Corporation | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSI International Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSI International Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 62.14% |
HSIL Investments Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Hubei Macheng HSBC Rural Bank Company Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Hubei Suizhou Cengdu HSBC Rural Bank Company Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Hubei Tianmen HSBC Rural Bank Company Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Hunan Pingjiang HSBC Rural Bank Company Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Imenson Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Imenson Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 62.14% |
INKA Internationale Kapitalanlagegesellschaft mbH | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
INKA Internationale Kapitalanlagegesellschaft mbH | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 80.67% |
Inmobiliaria Banci, S.A. de C.V. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Inmobiliaria Banci, S.A. de C.V. | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.68% |
Inmobiliaria Bisa, S.A. de C.V. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.98% |
Inmobiliaria Grufin, S.A. de C.V. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Inmobiliaria Grufin, S.A. de C.V. | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Inmobiliaria Guatusi, S.A. de C.V. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Inmobiliaria Guatusi, S.A. de C.V. | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
IRERE Property Investments (French Offices) Sarl (In Liquidation) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
James Capel & Co. Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
James Capel (Nominees) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
James Capel (Taiwan) Nominees Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
John Lewis Financial Services Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Keyser Ullmann Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Keyser Ullmann Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Lion Corporate Services Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Lion International Corporate Services Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Lion International Management Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Lion Management (Hong Kong) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Lyndholme Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Marks and Spencer Financial Services plc | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Marks and Spencer Unit Trust Management Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Maxima S.A. AFJP (In Liquidation) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.98% |
Mexicana de Fomento, S.A. de C.V. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Mexicana de Fomento, S.A. de C.V. | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.90% |
Midcorp Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Midland Bank (Branch Nominees) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Midland Nominees Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
MIL (Cayman) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
MW Gestion SA | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Promocion en Bienes Raices, S.A. de C.V. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Promocion en Bienes Raices, S.A. de C.V. | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Prudential Client HSBC GIS Nominee (UK) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
PT Bank HSBC Indonesia | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 98.93% |
PT HSBC Sekuritas Indonesia | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
PT HSBC Sekuritas Indonesia | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 85.00% |
R/CLIP Corp. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Real Estate Collateral Management Company | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Republic Nominees Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Republic Overseas Capital Corporation | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
RLUKREF Nominees (UK) One Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Woodex Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
RLUKREF Nominees (UK) Two Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
S.A.P.C. - Ufipro Recouvrement | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Saf Baiyun | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Saf Baiyun | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Saf Guangzhou | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Saf Guangzhou | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Saf Zhu Jiang Shi Ba | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Saf Zhu Jiang Shi Ba | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Saf Zhu Jiang Shi Er | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Saf Zhu Jiang Shi Er | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Saf Zhu Jiang Shi Jiu | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Saf Zhu Jiang Shi Jiu | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Saf Zhu Jiang Shi Liu | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Saf Zhu Jiang Shi Liu | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Saf Zhu Jiang Shi Qi | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Saf Zhu Jiang Shi Qi | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Saf Zhu Jiang Shi Wu | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Saf Zhu Jiang Shi Wu | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
SAS Cyatheas Pasteur | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 94.93% |
SCI HSBC Assurances Immo | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
SCI HSBC Assurances Immo | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Serai Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
SFM | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
SFM | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
SFSS Nominees (Pty) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Shandong Rongcheng HSBC Rural Bank Company Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Sico Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
SNC Dorique | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
SNC Kerouan | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
SNC Les Mercuriales | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
SNC Les Mercuriales | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
SNC Les Oliviers D'Antibes | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 60.00% |
SNC Makala | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
SNC Makala | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
SNCB/M6 - 2008 A | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
SNCB/M6 - 2008 A | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
SNCB/M6-2007 A | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
SNCB/M6-2007 A | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
SNCB/M6-2007 B | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
SNCB/M6-2007 B | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Société Française et Suisse | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Société Française et Suisse | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Societe Immobiliere Atlas S.A. (In Liquidation) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Somers Dublin DAC | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Somers Dublin DAC | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Somers Nominees (Far East) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Sopingest | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Sopingest | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
South Yorkshire Light Rail Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
St Cross Trustees Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Sun Hung Kai Development (Lujiazui III) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Swan National Leasing (Commercials) Limited (In Liquidation) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Swan National Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Odeme Sistemleri Bilgisayar Teknolojileri Basin Yayin Ve Musteri Hizmetleri (In Liquidation) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
HSBC Odeme Sistemleri Bilgisayar Teknolojileri Basin Yayin Ve Musteri Hizmetleri (In Liquidation) | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Thasosfin | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Thasosfin | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
The Hongkong and Shanghai Banking Corporation Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
The Hongkong and Shanghai Banking Corporation Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
The Venture Catalysts Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Tooley Street View Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Tower Investment Management | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Trinkaus Australien Immobilien Fonds Nr. 1 Brisbane GmbH & Co. KG | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Trinkaus Australien Immobilien Fonds Nr. 1 Brisbane GmbH & Co. KG | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 80.67% |
Trinkaus Australien Immobilien-Fonds Nr. 1 Treuhand-GmbH | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Trinkaus Australien Immobilien-Fonds Nr. 1 Treuhand-GmbH | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 80.67% |
Trinkaus Europa Immobilien-Fonds Nr.3 Objekt Utrecht Verwaltungs-GmbH | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Trinkaus Europa Immobilien-Fonds Nr.3 Objekt Utrecht Verwaltungs-GmbH | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 80.67% |
Trinkaus Immobilien-Fonds Geschaeftsfuehrungs-GmbH | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Trinkaus Immobilien-Fonds Geschaeftsfuehrungs-GmbH | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 80.67% |
Trinkaus Immobilien-Fonds Verwaltungs-GmbH | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Trinkaus Immobilien-Fonds Verwaltungs-GmbH | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 80.67% |
Trinkaus Private Equity Management GmbH | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Trinkaus Private Equity Management GmbH | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 80.67% |
Trinkaus Private Equity Verwaltungs GmbH | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Trinkaus Private Equity Verwaltungs GmbH | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 80.67% |
Tropical Nominees Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Turnsonic (Nominees) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Valeurs Mobilières Elysées | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Valeurs Mobilières Elysées | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Wardley Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Wayfoong Nominees Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Wayhong (Bahamas) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Yan Nin Development Company Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Yan Nin Development Company Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 62.14% |
HSBC Holdings' subsidiaries, _4
HSBC Holdings' subsidiaries, joint ventures and associates - Associates (Details) | Dec. 31, 2019 | May 31, 2019 | Jun. 30, 2019 | Dec. 31, 2019 |
Bank of Communications Co., Limited | ||||
Disclosure of associates [line items] | ||||
HSBC’s interest percent | 19.03% | 19.03% | ||
Barrowgate Limited | ||||
Disclosure of associates [line items] | ||||
HSBC’s interest percent | 15.31% | |||
BGF Group PLC | ||||
Disclosure of associates [line items] | ||||
HSBC’s interest percent | 24.54% | |||
Bud Financial Limited | ||||
Disclosure of associates [line items] | ||||
HSBC’s interest percent | 8.20% | |||
Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited | ||||
Disclosure of associates [line items] | ||||
HSBC’s interest percent | 26.00% | |||
CFAC Payment Scheme Limited | ||||
Disclosure of associates [line items] | ||||
HSBC’s interest percent | 33.33% | |||
Chemi & Cotex (Rwanda) Limited | ||||
Disclosure of associates [line items] | ||||
HSBC’s interest percent | 33.99% | |||
Chemi & Cotex Kenya Limited | ||||
Disclosure of associates [line items] | ||||
HSBC’s interest percent | 33.99% | |||
Chemi and Cotex Industries Limited | ||||
Disclosure of associates [line items] | ||||
HSBC’s interest percent | 33.99% | |||
EPS Company (Hong Kong) Limited | ||||
Disclosure of associates [line items] | ||||
HSBC’s interest percent | 38.66% | |||
Euro Secured Note Issuer [Member] | ||||
Disclosure of associates [line items] | ||||
HSBC’s interest percent | 16.66% | |||
GZHS Research Co Ltd | ||||
Disclosure of associates [line items] | ||||
HSBC’s interest percent | 33.00% | |||
Hang Seng Qianhai Fund Management Company Limited | ||||
Disclosure of associates [line items] | ||||
HSBC’s interest percent | 70.00% | |||
Jeppe Star Limited | ||||
Disclosure of associates [line items] | ||||
HSBC’s interest percent | 100.00% | |||
MENA Infrastructure Fund (GP) Ltd | ||||
Disclosure of associates [line items] | ||||
HSBC’s interest percent | 33.33% | |||
Northstar Trade Finance Inc. | ||||
Disclosure of associates [line items] | ||||
HSBC’s interest percent | 20.08% | |||
Novo Star Limited | ||||
Disclosure of associates [line items] | ||||
HSBC’s interest percent | 33.99% | |||
Quantexa Ltd | ||||
Disclosure of associates [line items] | ||||
HSBC’s interest percent | 10.51% | |||
Services Epargne Entreprise | ||||
Disclosure of associates [line items] | ||||
HSBC’s interest percent | 14.34% | |||
sino AG | ||||
Disclosure of associates [line items] | ||||
HSBC’s interest percent | 24.94% | |||
The Saudi British Bank | ||||
Disclosure of associates [line items] | ||||
HSBC’s interest percent | 29.20% | 40.00% | 29.20% | 29.20% |
Vizolution Limited | ||||
Disclosure of associates [line items] | ||||
HSBC’s interest percent | 17.95% | |||
We Trade Innovation Designated Activity Company | ||||
Disclosure of associates [line items] | ||||
HSBC’s interest percent | 8.52% | |||
HSBC Holdings | GZHS Research Co Ltd | ||||
Disclosure of associates [line items] | ||||
HSBC’s interest percent | 20.50% | |||
HSBC Holdings | Hang Seng Qianhai Fund Management Company Limited | ||||
Disclosure of associates [line items] | ||||
HSBC’s interest percent | 43.49% | |||
HSBC Holdings | Jeppe Star Limited | ||||
Disclosure of associates [line items] | ||||
HSBC’s interest percent | 33.99% | |||
HSBC Holdings | sino AG | ||||
Disclosure of associates [line items] | ||||
HSBC’s interest percent | 20.11% |
HSBC Holdings' subsidiaries, _5
HSBC Holdings' subsidiaries, joint ventures and associates - Joint Ventures (Details) | 12 Months Ended |
Dec. 31, 2019 | |
Global Payments Technology Mexico S.A. De C.V. | |
Disclosure of joint ventures [line items] | |
Group interest percent | 50.00% |
HCM Holdings Limited (In Liquidation) | |
Disclosure of joint ventures [line items] | |
Group interest percent | 50.99% |
House Network Sdn Bhd | |
Disclosure of joint ventures [line items] | |
Group interest percent | 25.00% |
HSBC Jintrust Fund Management Company Limited | |
Disclosure of joint ventures [line items] | |
Group interest percent | 49.00% |
ProServe Bermuda Limited | |
Disclosure of joint ventures [line items] | |
Group interest percent | 50.00% |
Vaultex UK Limited | |
Disclosure of joint ventures [line items] | |
Group interest percent | 50.00% |
Report Of The Directors Finan_5
Report Of The Directors Financial Review Risk Report - Summary of financial instruments to which the impairment requirements in IFRS 9 are applied (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of financial assets [line items] | ||
Financial assets | $ 2,621,427 | $ 2,471,203 |
Off-balance sheet commitments | 273,380 | 259,643 |
Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 85,735 | 62,666 |
Loans and other credit-related commitments | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | 197,579 | 188,258 |
Loans and advances to customers | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,036,743 | 981,696 |
Loans and advances to banks | ||
Disclosure of financial assets [line items] | ||
Financial assets | 69,203 | 72,167 |
Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 85,735 | 62,666 |
Debt securities | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 75,259 | 61,987 |
Gross carrying amount | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | 273,512 | 259,742 |
Gross carrying amount | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 2,350,116 | 2,260,944 |
Gross carrying amount | Loans and other credit-related commitments | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | 197,579 | 188,258 |
Gross carrying amount | Loans and advances to customers | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,045,475 | 990,321 |
Gross carrying amount | Loans and advances to customers | – personal | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 434,271 | 394,337 |
Gross carrying amount | Loans and advances to customers | – corporate and commercial | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 540,499 | 534,577 |
Gross carrying amount | Loans and advances to customers | – non-bank financial institutions | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 70,705 | 61,407 |
Gross carrying amount | Loans and advances to banks | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 69,219 | 72,180 |
Gross carrying amount | Other financial assets | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 615,179 | 582,917 |
Gross carrying amount | Debt securities | Financial assets measured at fair value through other comprehensive income, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 355,664 | 343,110 |
Allowance for ECL | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | (132) | (99) |
Allowance for ECL | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | (9,243) | (9,111) |
Allowance for ECL | Loans and other credit-related commitments | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | 0 | 0 |
Allowance for ECL | Loans and advances to customers | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | (8,732) | (8,625) |
Allowance for ECL | Loans and advances to customers | – personal | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | (3,134) | (2,947) |
Allowance for ECL | Loans and advances to customers | – corporate and commercial | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | (5,438) | (5,552) |
Allowance for ECL | Loans and advances to customers | – non-bank financial institutions | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | (160) | (126) |
Allowance for ECL | Loans and advances to banks | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | (16) | (13) |
Allowance for ECL | Other financial assets | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | (118) | (55) |
Allowance for ECL | Debt securities | Financial assets measured at fair value through other comprehensive income, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | (166) | (84) |
IFRS 9 | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | 619,866 | 615,108 |
Financial assets and off-balance sheet loan commitments | 2,340,873 | 2,251,833 |
IFRS 9 | Financial assets measured at fair value through other comprehensive income, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 351,725 | 341,782 |
IFRS 9 | Loans and other credit-related commitments | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | 599,700 | 591,683 |
IFRS 9 | Financial guarantees | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | 20,166 | 23,425 |
IFRS 9 | Loans and advances to customers | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,036,743 | 981,696 |
IFRS 9 | Loans and advances to customers | – personal | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 431,137 | 391,390 |
IFRS 9 | Loans and advances to customers | – corporate and commercial | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 535,061 | 529,025 |
IFRS 9 | Loans and advances to customers | – non-bank financial institutions | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 70,545 | 61,281 |
IFRS 9 | Loans and advances to banks | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 69,203 | 72,167 |
IFRS 9 | Other financial assets | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 615,061 | 582,862 |
IFRS 9 | Cash and balances at central banks | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 154,099 | 162,843 |
IFRS 9 | Items in the course of collection from other banks | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 4,956 | 5,787 |
IFRS 9 | Hong Kong Government certificates of indebtedness | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 38,380 | 35,859 |
IFRS 9 | Reverse repurchase agreements – non-trading | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 240,862 | 242,804 |
IFRS 9 | Financial investments | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 85,735 | 62,666 |
IFRS 9 | Debt securities | Financial assets measured at fair value through other comprehensive income, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 351,725 | 341,782 |
IFRS 9 | Gross carrying amount | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,729,873 | 1,645,418 |
Off-balance sheet commitments | 620,243 | 615,526 |
Financial assets and off-balance sheet loan commitments | 2,350,116 | 2,260,944 |
IFRS 9 | Gross carrying amount | Financial assets measured at fair value through other comprehensive income, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 351,891 | 341,866 |
IFRS 9 | Gross carrying amount | Loans and other credit-related commitments | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | 600,029 | 592,008 |
IFRS 9 | Gross carrying amount | Loans and other credit-related commitments | – personal | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | 223,314 | 207,351 |
IFRS 9 | Gross carrying amount | Loans and other credit-related commitments | – corporate and commercial | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | 278,524 | 271,022 |
IFRS 9 | Gross carrying amount | Loans and other credit-related commitments | – non-bank financial institutions | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | 98,191 | 113,635 |
IFRS 9 | Gross carrying amount | Financial guarantees | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | 20,214 | 23,518 |
IFRS 9 | Gross carrying amount | Financial guarantees | – personal | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | 804 | 927 |
IFRS 9 | Gross carrying amount | Financial guarantees | – corporate and commercial | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | 14,804 | 17,355 |
IFRS 9 | Gross carrying amount | Financial guarantees | – non-bank financial institutions | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | 4,606 | 5,236 |
IFRS 9 | Gross carrying amount | Loans and advances to customers | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,045,475 | 990,321 |
IFRS 9 | Gross carrying amount | Loans and advances to customers | – personal | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 434,271 | 394,337 |
IFRS 9 | Gross carrying amount | Loans and advances to customers | – corporate and commercial | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 540,499 | 534,577 |
IFRS 9 | Gross carrying amount | Loans and advances to customers | – non-bank financial institutions | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 70,705 | 61,407 |
IFRS 9 | Gross carrying amount | Loans and advances to banks | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 69,219 | 72,180 |
IFRS 9 | Gross carrying amount | Other financial assets | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 615,179 | 582,917 |
IFRS 9 | Gross carrying amount | Cash and balances at central banks | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 154,101 | 162,845 |
IFRS 9 | Gross carrying amount | Items in the course of collection from other banks | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 4,956 | 5,787 |
IFRS 9 | Gross carrying amount | Hong Kong Government certificates of indebtedness | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 38,380 | 35,859 |
IFRS 9 | Gross carrying amount | Reverse repurchase agreements – non-trading | ||
Disclosure of financial assets [line items] | ||
Financial assets | 53,093 | 65,381 |
IFRS 9 | Gross carrying amount | Reverse repurchase agreements – non-trading | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 240,862 | 242,804 |
IFRS 9 | Gross carrying amount | Financial investments | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 85,788 | 62,684 |
IFRS 9 | Gross carrying amount | Prepayments, accrued income and other assets | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 91,092 | 72,938 |
IFRS 9 | Gross carrying amount | Debt securities | Financial assets measured at fair value through other comprehensive income, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 351,891 | 341,866 |
IFRS 9 | Allowance for ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (8,866) | (8,693) |
Off-balance sheet commitments | (377) | (418) |
Financial assets and off-balance sheet loan commitments | (9,243) | (9,111) |
IFRS 9 | Allowance for ECL | Financial assets measured at fair value through other comprehensive income, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | (166) | (84) |
IFRS 9 | Allowance for ECL | Loans and other credit-related commitments | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | (329) | (325) |
IFRS 9 | Allowance for ECL | Loans and other credit-related commitments | – personal | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | (15) | (13) |
IFRS 9 | Allowance for ECL | Loans and other credit-related commitments | – corporate and commercial | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | (307) | (305) |
IFRS 9 | Allowance for ECL | Loans and other credit-related commitments | – non-bank financial institutions | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | (7) | (7) |
IFRS 9 | Allowance for ECL | Financial guarantees | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | (48) | (93) |
IFRS 9 | Allowance for ECL | Financial guarantees | – personal | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | (1) | (1) |
IFRS 9 | Allowance for ECL | Financial guarantees | – corporate and commercial | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | (44) | (85) |
IFRS 9 | Allowance for ECL | Financial guarantees | – non-bank financial institutions | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | (3) | (7) |
IFRS 9 | Allowance for ECL | Loans and advances to customers | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | (8,732) | (8,625) |
IFRS 9 | Allowance for ECL | Loans and advances to customers | – personal | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | (3,134) | (2,947) |
IFRS 9 | Allowance for ECL | Loans and advances to customers | – corporate and commercial | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | (5,438) | (5,552) |
IFRS 9 | Allowance for ECL | Loans and advances to customers | – non-bank financial institutions | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | (160) | (126) |
IFRS 9 | Allowance for ECL | Loans and advances to banks | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | (16) | (13) |
IFRS 9 | Allowance for ECL | Other financial assets | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | (118) | (55) |
IFRS 9 | Allowance for ECL | Cash and balances at central banks | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | (2) | (2) |
IFRS 9 | Allowance for ECL | Items in the course of collection from other banks | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Allowance for ECL | Hong Kong Government certificates of indebtedness | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Allowance for ECL | Reverse repurchase agreements – non-trading | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Allowance for ECL | Financial investments | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | (53) | (18) |
IFRS 9 | Allowance for ECL | Prepayments, accrued income and other assets | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | (63) | (35) |
IFRS 9 | Allowance for ECL | Debt securities | Financial assets measured at fair value through other comprehensive income, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ (166) | $ (84) |
Report Of The Directors Finan_6
Report Of The Directors Financial Review Risk Report - Summary of credit risk (excluding debt instruments measured at FVOCI) by stage distribution and ECL coverage by industry sector (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 2,621,427 | $ 2,471,203 |
Loans and advances to customers | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 1,036,743 | 981,696 |
Loans and advances to banks | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 69,203 | 72,167 |
Financial assets at amortised cost, category | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 85,735 | $ 62,666 |
ECL coverage | 0.40% | 0.40% |
Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 2,350,116 | $ 2,260,944 |
Financial assets at amortised cost, category | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (9,243) | $ (9,111) |
Financial assets at amortised cost, category | 12-month expected credit losses | Financial instruments not credit-impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.10% | 0.10% |
Financial assets at amortised cost, category | 12-month expected credit losses | Financial instruments not credit-impaired | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 2,227,867 | $ 2,149,450 |
Financial assets at amortised cost, category | 12-month expected credit losses | Financial instruments not credit-impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (1,502) | $ (1,476) |
Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments not credit-impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 2.30% | 2.40% |
Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments not credit-impaired | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 107,417 | $ 96,802 |
Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments not credit-impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (2,479) | $ (2,284) |
Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 35.60% | 35.90% |
Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 14,486 | $ 14,358 |
Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (5,163) | $ (5,157) |
Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 28.60% | 58.10% |
Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 346 | $ 334 |
Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (99) | $ (194) |
Financial assets at amortised cost, category | Loans and advances to customers | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.80% | 0.90% |
Financial assets at amortised cost, category | Loans and advances to customers | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 1,045,475 | $ 990,321 |
Financial assets at amortised cost, category | Loans and advances to customers | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (8,732) | $ (8,625) |
Financial assets at amortised cost, category | Loans and advances to customers | 12-month expected credit losses | Financial instruments not credit-impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.10% | 0.10% |
Financial assets at amortised cost, category | Loans and advances to customers | 12-month expected credit losses | Financial instruments not credit-impaired | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 951,583 | $ 908,393 |
Financial assets at amortised cost, category | Loans and advances to customers | 12-month expected credit losses | Financial instruments not credit-impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (1,297) | $ (1,276) |
Financial assets at amortised cost, category | Loans and advances to customers | Lifetime expected credit losses | Financial instruments not credit-impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 2.80% | 3.10% |
Financial assets at amortised cost, category | Loans and advances to customers | Lifetime expected credit losses | Financial instruments not credit-impaired | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 80,182 | $ 68,581 |
Financial assets at amortised cost, category | Loans and advances to customers | Lifetime expected credit losses | Financial instruments not credit-impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (2,284) | $ (2,108) |
Financial assets at amortised cost, category | Loans and advances to customers | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 37.80% | 38.80% |
Financial assets at amortised cost, category | Loans and advances to customers | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 13,378 | $ 13,023 |
Financial assets at amortised cost, category | Loans and advances to customers | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (5,052) | $ (5,047) |
Financial assets at amortised cost, category | Loans and advances to customers | Lifetime expected credit losses | POCI | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 29.80% | 59.90% |
Financial assets at amortised cost, category | Loans and advances to customers | Lifetime expected credit losses | POCI | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 332 | $ 324 |
Financial assets at amortised cost, category | Loans and advances to customers | Lifetime expected credit losses | POCI | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (99) | $ (194) |
Financial assets at amortised cost, category | Loans and advances to customers | – personal | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.70% | 0.70% |
Financial assets at amortised cost, category | Loans and advances to customers | – personal | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 434,271 | $ 394,337 |
Financial assets at amortised cost, category | Loans and advances to customers | – personal | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (3,134) | $ (2,947) |
Financial assets at amortised cost, category | Loans and advances to customers | – personal | 12-month expected credit losses | Financial instruments not credit-impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.10% | 0.10% |
Financial assets at amortised cost, category | Loans and advances to customers | – personal | 12-month expected credit losses | Financial instruments not credit-impaired | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 413,669 | $ 374,681 |
Financial assets at amortised cost, category | Loans and advances to customers | – personal | 12-month expected credit losses | Financial instruments not credit-impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (583) | $ (534) |
Financial assets at amortised cost, category | Loans and advances to customers | – personal | Lifetime expected credit losses | Financial instruments not credit-impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 8.50% | 8.40% |
Financial assets at amortised cost, category | Loans and advances to customers | – personal | Lifetime expected credit losses | Financial instruments not credit-impaired | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 15,751 | $ 15,075 |
Financial assets at amortised cost, category | Loans and advances to customers | – personal | Lifetime expected credit losses | Financial instruments not credit-impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (1,336) | $ (1,265) |
Financial assets at amortised cost, category | Loans and advances to customers | – personal | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 25.00% | 25.10% |
Financial assets at amortised cost, category | Loans and advances to customers | – personal | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 4,851 | $ 4,581 |
Financial assets at amortised cost, category | Loans and advances to customers | – personal | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (1,215) | $ (1,148) |
Financial assets at amortised cost, category | Loans and advances to customers | – personal | Lifetime expected credit losses | POCI | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | Loans and advances to customers | – personal | Lifetime expected credit losses | POCI | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 0 | $ 0 |
Financial assets at amortised cost, category | Loans and advances to customers | – personal | Lifetime expected credit losses | POCI | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 0 | $ 0 |
Financial assets at amortised cost, category | Loans and advances to customers | – corporate and commercial | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 1.00% | 1.00% |
Financial assets at amortised cost, category | Loans and advances to customers | – corporate and commercial | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 540,499 | $ 534,577 |
Financial assets at amortised cost, category | Loans and advances to customers | – corporate and commercial | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (5,438) | $ (5,552) |
Financial assets at amortised cost, category | Loans and advances to customers | – corporate and commercial | 12-month expected credit losses | Financial instruments not credit-impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.10% | 0.10% |
Financial assets at amortised cost, category | Loans and advances to customers | – corporate and commercial | 12-month expected credit losses | Financial instruments not credit-impaired | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 472,253 | $ 474,700 |
Financial assets at amortised cost, category | Loans and advances to customers | – corporate and commercial | 12-month expected credit losses | Financial instruments not credit-impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (672) | $ (698) |
Financial assets at amortised cost, category | Loans and advances to customers | – corporate and commercial | Lifetime expected credit losses | Financial instruments not credit-impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 1.50% | 1.60% |
Financial assets at amortised cost, category | Loans and advances to customers | – corporate and commercial | Lifetime expected credit losses | Financial instruments not credit-impaired | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 59,599 | $ 51,341 |
Financial assets at amortised cost, category | Loans and advances to customers | – corporate and commercial | Lifetime expected credit losses | Financial instruments not credit-impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (920) | $ (812) |
Financial assets at amortised cost, category | Loans and advances to customers | – corporate and commercial | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 45.10% | 46.90% |
Financial assets at amortised cost, category | Loans and advances to customers | – corporate and commercial | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 8,315 | $ 8,212 |
Financial assets at amortised cost, category | Loans and advances to customers | – corporate and commercial | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (3,747) | $ (3,848) |
Financial assets at amortised cost, category | Loans and advances to customers | – corporate and commercial | Lifetime expected credit losses | POCI | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 29.80% | 59.90% |
Financial assets at amortised cost, category | Loans and advances to customers | – corporate and commercial | Lifetime expected credit losses | POCI | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 332 | $ 324 |
Financial assets at amortised cost, category | Loans and advances to customers | – corporate and commercial | Lifetime expected credit losses | POCI | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (99) | $ (194) |
Financial assets at amortised cost, category | Loans and advances to customers | – non-bank financial institutions | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.20% | 0.20% |
Financial assets at amortised cost, category | Loans and advances to customers | – non-bank financial institutions | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 70,705 | $ 61,407 |
Financial assets at amortised cost, category | Loans and advances to customers | – non-bank financial institutions | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (160) | $ (126) |
Financial assets at amortised cost, category | Loans and advances to customers | – non-bank financial institutions | 12-month expected credit losses | Financial instruments not credit-impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.10% | 0.10% |
Financial assets at amortised cost, category | Loans and advances to customers | – non-bank financial institutions | 12-month expected credit losses | Financial instruments not credit-impaired | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 65,661 | $ 59,012 |
Financial assets at amortised cost, category | Loans and advances to customers | – non-bank financial institutions | 12-month expected credit losses | Financial instruments not credit-impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (42) | $ (44) |
Financial assets at amortised cost, category | Loans and advances to customers | – non-bank financial institutions | Lifetime expected credit losses | Financial instruments not credit-impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.60% | 1.40% |
Financial assets at amortised cost, category | Loans and advances to customers | – non-bank financial institutions | Lifetime expected credit losses | Financial instruments not credit-impaired | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 4,832 | $ 2,165 |
Financial assets at amortised cost, category | Loans and advances to customers | – non-bank financial institutions | Lifetime expected credit losses | Financial instruments not credit-impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (28) | $ (31) |
Financial assets at amortised cost, category | Loans and advances to customers | – non-bank financial institutions | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 42.50% | 22.20% |
Financial assets at amortised cost, category | Loans and advances to customers | – non-bank financial institutions | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 212 | $ 230 |
Financial assets at amortised cost, category | Loans and advances to customers | – non-bank financial institutions | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (90) | $ (51) |
Financial assets at amortised cost, category | Loans and advances to customers | – non-bank financial institutions | Lifetime expected credit losses | POCI | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | Loans and advances to customers | – non-bank financial institutions | Lifetime expected credit losses | POCI | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 0 | $ 0 |
Financial assets at amortised cost, category | Loans and advances to customers | – non-bank financial institutions | Lifetime expected credit losses | POCI | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 0 | $ 0 |
Financial assets at amortised cost, category | Loans and advances to banks | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | Loans and advances to banks | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 69,219 | $ 72,180 |
Financial assets at amortised cost, category | Loans and advances to banks | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (16) | $ (13) |
Financial assets at amortised cost, category | Loans and advances to banks | 12-month expected credit losses | Financial instruments not credit-impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | Loans and advances to banks | 12-month expected credit losses | Financial instruments not credit-impaired | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 67,769 | $ 71,873 |
Financial assets at amortised cost, category | Loans and advances to banks | 12-month expected credit losses | Financial instruments not credit-impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (14) | $ (11) |
Financial assets at amortised cost, category | Loans and advances to banks | Lifetime expected credit losses | Financial instruments not credit-impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.10% | 0.70% |
Financial assets at amortised cost, category | Loans and advances to banks | Lifetime expected credit losses | Financial instruments not credit-impaired | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 1,450 | $ 307 |
Financial assets at amortised cost, category | Loans and advances to banks | Lifetime expected credit losses | Financial instruments not credit-impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (2) | $ (2) |
Financial assets at amortised cost, category | Loans and advances to banks | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | Loans and advances to banks | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 0 | $ 0 |
Financial assets at amortised cost, category | Loans and advances to banks | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 0 | $ 0 |
Financial assets at amortised cost, category | Loans and advances to banks | Lifetime expected credit losses | POCI | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | Loans and advances to banks | Lifetime expected credit losses | POCI | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 0 | $ 0 |
Financial assets at amortised cost, category | Loans and advances to banks | Lifetime expected credit losses | POCI | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 0 | $ 0 |
Financial assets at amortised cost, category | Other financial assets | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | Other financial assets | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 615,179 | $ 582,917 |
Financial assets at amortised cost, category | Other financial assets | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (118) | $ (55) |
Financial assets at amortised cost, category | Other financial assets | 12-month expected credit losses | Financial instruments not credit-impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | Other financial assets | 12-month expected credit losses | Financial instruments not credit-impaired | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 613,200 | $ 581,118 |
Financial assets at amortised cost, category | Other financial assets | 12-month expected credit losses | Financial instruments not credit-impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (38) | $ (27) |
Financial assets at amortised cost, category | Other financial assets | Lifetime expected credit losses | Financial instruments not credit-impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 2.10% | 0.40% |
Financial assets at amortised cost, category | Other financial assets | Lifetime expected credit losses | Financial instruments not credit-impaired | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 1,827 | $ 1,673 |
Financial assets at amortised cost, category | Other financial assets | Lifetime expected credit losses | Financial instruments not credit-impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (38) | $ (6) |
Financial assets at amortised cost, category | Other financial assets | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 27.80% | 17.50% |
Financial assets at amortised cost, category | Other financial assets | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 151 | $ 126 |
Financial assets at amortised cost, category | Other financial assets | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (42) | $ (22) |
Financial assets at amortised cost, category | Other financial assets | Lifetime expected credit losses | POCI | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | Other financial assets | Lifetime expected credit losses | POCI | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 1 | $ 0 |
Financial assets at amortised cost, category | Other financial assets | Lifetime expected credit losses | POCI | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 0 | $ 0 |
Financial assets at amortised cost, category | Loans and other credit-related commitments | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.10% | 0.10% |
Financial assets at amortised cost, category | Loans and other credit-related commitments | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 600,029 | $ 592,008 |
Financial assets at amortised cost, category | Loans and other credit-related commitments | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (329) | $ (325) |
Financial assets at amortised cost, category | Loans and other credit-related commitments | 12-month expected credit losses | Financial instruments not credit-impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | Loans and other credit-related commitments | 12-month expected credit losses | Financial instruments not credit-impaired | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 577,631 | $ 567,232 |
Financial assets at amortised cost, category | Loans and other credit-related commitments | 12-month expected credit losses | Financial instruments not credit-impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (137) | $ (143) |
Financial assets at amortised cost, category | Loans and other credit-related commitments | Lifetime expected credit losses | Financial instruments not credit-impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.60% | 0.60% |
Financial assets at amortised cost, category | Loans and other credit-related commitments | Lifetime expected credit losses | Financial instruments not credit-impaired | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 21,618 | $ 23,857 |
Financial assets at amortised cost, category | Loans and other credit-related commitments | Lifetime expected credit losses | Financial instruments not credit-impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (133) | $ (139) |
Financial assets at amortised cost, category | Loans and other credit-related commitments | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 7.70% | 4.70% |
Financial assets at amortised cost, category | Loans and other credit-related commitments | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 771 | $ 912 |
Financial assets at amortised cost, category | Loans and other credit-related commitments | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (59) | $ (43) |
Financial assets at amortised cost, category | Loans and other credit-related commitments | Lifetime expected credit losses | POCI | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | Loans and other credit-related commitments | Lifetime expected credit losses | POCI | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 9 | $ 7 |
Financial assets at amortised cost, category | Loans and other credit-related commitments | Lifetime expected credit losses | POCI | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 0 | $ 0 |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – personal | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – personal | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 223,314 | $ 207,351 |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – personal | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (15) | $ (13) |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – personal | 12-month expected credit losses | Financial instruments not credit-impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – personal | 12-month expected credit losses | Financial instruments not credit-impaired | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 221,490 | $ 205,183 |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – personal | 12-month expected credit losses | Financial instruments not credit-impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (13) | $ (12) |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – personal | Lifetime expected credit losses | Financial instruments not credit-impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.10% | 0.10% |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – personal | Lifetime expected credit losses | Financial instruments not credit-impaired | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 1,630 | $ 1,760 |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – personal | Lifetime expected credit losses | Financial instruments not credit-impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (2) | $ (1) |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – personal | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – personal | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 194 | $ 408 |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – personal | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 0 | $ 0 |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – personal | Lifetime expected credit losses | POCI | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – personal | Lifetime expected credit losses | POCI | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 0 | $ 0 |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – personal | Lifetime expected credit losses | POCI | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 0 | $ 0 |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – corporate and commercial | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.10% | 0.10% |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – corporate and commercial | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 278,524 | $ 271,022 |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – corporate and commercial | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (307) | $ (305) |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – corporate and commercial | 12-month expected credit losses | Financial instruments not credit-impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.00% | 0.10% |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – corporate and commercial | 12-month expected credit losses | Financial instruments not credit-impaired | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 259,138 | $ 249,587 |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – corporate and commercial | 12-month expected credit losses | Financial instruments not credit-impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (118) | $ (126) |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – corporate and commercial | Lifetime expected credit losses | Financial instruments not credit-impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.70% | 0.60% |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – corporate and commercial | Lifetime expected credit losses | Financial instruments not credit-impaired | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 18,804 | $ 20,925 |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – corporate and commercial | Lifetime expected credit losses | Financial instruments not credit-impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (130) | $ (136) |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – corporate and commercial | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 10.30% | 8.50% |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – corporate and commercial | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 573 | $ 503 |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – corporate and commercial | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (59) | $ (43) |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – corporate and commercial | Lifetime expected credit losses | POCI | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – corporate and commercial | Lifetime expected credit losses | POCI | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 9 | $ 7 |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – corporate and commercial | Lifetime expected credit losses | POCI | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 0 | $ 0 |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – financial | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – financial | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 98,191 | $ 113,635 |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – financial | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (7) | $ (7) |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – financial | 12-month expected credit losses | Financial instruments not credit-impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – financial | 12-month expected credit losses | Financial instruments not credit-impaired | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 97,003 | $ 112,462 |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – financial | 12-month expected credit losses | Financial instruments not credit-impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (6) | $ (5) |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – financial | Lifetime expected credit losses | Financial instruments not credit-impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.10% | 0.20% |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – financial | Lifetime expected credit losses | Financial instruments not credit-impaired | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 1,184 | $ 1,172 |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – financial | Lifetime expected credit losses | Financial instruments not credit-impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (1) | $ (2) |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – financial | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – financial | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 4 | $ 1 |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – financial | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 0 | $ 0 |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – financial | Lifetime expected credit losses | POCI | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – financial | Lifetime expected credit losses | POCI | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 0 | $ 0 |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – financial | Lifetime expected credit losses | POCI | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 0 | $ 0 |
Financial assets at amortised cost, category | Financial guarantees | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.20% | 0.40% |
Financial assets at amortised cost, category | Financial guarantees | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 20,214 | $ 23,518 |
Financial assets at amortised cost, category | Financial guarantees | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (48) | $ (93) |
Financial assets at amortised cost, category | Financial guarantees | 12-month expected credit losses | Financial instruments not credit-impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.10% | 0.10% |
Financial assets at amortised cost, category | Financial guarantees | 12-month expected credit losses | Financial instruments not credit-impaired | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 17,684 | $ 20,834 |
Financial assets at amortised cost, category | Financial guarantees | 12-month expected credit losses | Financial instruments not credit-impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (16) | $ (19) |
Financial assets at amortised cost, category | Financial guarantees | Lifetime expected credit losses | Financial instruments not credit-impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.90% | 1.20% |
Financial assets at amortised cost, category | Financial guarantees | Lifetime expected credit losses | Financial instruments not credit-impaired | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 2,340 | $ 2,384 |
Financial assets at amortised cost, category | Financial guarantees | Lifetime expected credit losses | Financial instruments not credit-impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (22) | $ (29) |
Financial assets at amortised cost, category | Financial guarantees | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 5.40% | 15.20% |
Financial assets at amortised cost, category | Financial guarantees | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 186 | $ 297 |
Financial assets at amortised cost, category | Financial guarantees | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (10) | $ (45) |
Financial assets at amortised cost, category | Financial guarantees | Lifetime expected credit losses | POCI | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | Financial guarantees | Lifetime expected credit losses | POCI | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 4 | $ 3 |
Financial assets at amortised cost, category | Financial guarantees | Lifetime expected credit losses | POCI | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 0 | $ 0 |
Financial assets at amortised cost, category | Financial guarantees | – personal | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.10% | 0.10% |
Financial assets at amortised cost, category | Financial guarantees | – personal | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 804 | $ 927 |
Financial assets at amortised cost, category | Financial guarantees | – personal | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (1) | $ (1) |
Financial assets at amortised cost, category | Financial guarantees | – personal | 12-month expected credit losses | Financial instruments not credit-impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.10% | 0.10% |
Financial assets at amortised cost, category | Financial guarantees | – personal | 12-month expected credit losses | Financial instruments not credit-impaired | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 802 | $ 920 |
Financial assets at amortised cost, category | Financial guarantees | – personal | 12-month expected credit losses | Financial instruments not credit-impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (1) | $ (1) |
Financial assets at amortised cost, category | Financial guarantees | – personal | Lifetime expected credit losses | Financial instruments not credit-impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | Financial guarantees | – personal | Lifetime expected credit losses | Financial instruments not credit-impaired | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 1 | $ 3 |
Financial assets at amortised cost, category | Financial guarantees | – personal | Lifetime expected credit losses | Financial instruments not credit-impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 0 | $ 0 |
Financial assets at amortised cost, category | Financial guarantees | – personal | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | Financial guarantees | – personal | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 1 | $ 4 |
Financial assets at amortised cost, category | Financial guarantees | – personal | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 0 | $ 0 |
Financial assets at amortised cost, category | Financial guarantees | – personal | Lifetime expected credit losses | POCI | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | Financial guarantees | – personal | Lifetime expected credit losses | POCI | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 0 | $ 0 |
Financial assets at amortised cost, category | Financial guarantees | – personal | Lifetime expected credit losses | POCI | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 0 | $ 0 |
Financial assets at amortised cost, category | Financial guarantees | – corporate and commercial | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.30% | 0.50% |
Financial assets at amortised cost, category | Financial guarantees | – corporate and commercial | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 14,804 | $ 17,355 |
Financial assets at amortised cost, category | Financial guarantees | – corporate and commercial | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (44) | $ (85) |
Financial assets at amortised cost, category | Financial guarantees | – corporate and commercial | 12-month expected credit losses | Financial instruments not credit-impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.10% | 0.10% |
Financial assets at amortised cost, category | Financial guarantees | – corporate and commercial | 12-month expected credit losses | Financial instruments not credit-impaired | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 12,540 | $ 14,963 |
Financial assets at amortised cost, category | Financial guarantees | – corporate and commercial | 12-month expected credit losses | Financial instruments not credit-impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (14) | $ (16) |
Financial assets at amortised cost, category | Financial guarantees | – corporate and commercial | Lifetime expected credit losses | Financial instruments not credit-impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 1.00% | 1.20% |
Financial assets at amortised cost, category | Financial guarantees | – corporate and commercial | Lifetime expected credit losses | Financial instruments not credit-impaired | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 2,076 | $ 2,101 |
Financial assets at amortised cost, category | Financial guarantees | – corporate and commercial | Lifetime expected credit losses | Financial instruments not credit-impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (21) | $ (25) |
Financial assets at amortised cost, category | Financial guarantees | – corporate and commercial | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 4.90% | 15.30% |
Financial assets at amortised cost, category | Financial guarantees | – corporate and commercial | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 184 | $ 288 |
Financial assets at amortised cost, category | Financial guarantees | – corporate and commercial | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (9) | $ (44) |
Financial assets at amortised cost, category | Financial guarantees | – corporate and commercial | Lifetime expected credit losses | POCI | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | Financial guarantees | – corporate and commercial | Lifetime expected credit losses | POCI | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 4 | $ 3 |
Financial assets at amortised cost, category | Financial guarantees | – corporate and commercial | Lifetime expected credit losses | POCI | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 0 | $ 0 |
Financial assets at amortised cost, category | Financial guarantees | – financial | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.10% | 0.10% |
Financial assets at amortised cost, category | Financial guarantees | – financial | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 4,606 | $ 5,236 |
Financial assets at amortised cost, category | Financial guarantees | – financial | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (3) | $ (7) |
Financial assets at amortised cost, category | Financial guarantees | – financial | 12-month expected credit losses | Financial instruments not credit-impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | Financial guarantees | – financial | 12-month expected credit losses | Financial instruments not credit-impaired | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 4,342 | $ 4,951 |
Financial assets at amortised cost, category | Financial guarantees | – financial | 12-month expected credit losses | Financial instruments not credit-impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (1) | $ (2) |
Financial assets at amortised cost, category | Financial guarantees | – financial | Lifetime expected credit losses | Financial instruments not credit-impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.40% | 1.40% |
Financial assets at amortised cost, category | Financial guarantees | – financial | Lifetime expected credit losses | Financial instruments not credit-impaired | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 263 | $ 280 |
Financial assets at amortised cost, category | Financial guarantees | – financial | Lifetime expected credit losses | Financial instruments not credit-impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (1) | $ (4) |
Financial assets at amortised cost, category | Financial guarantees | – financial | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 100.00% | 20.00% |
Financial assets at amortised cost, category | Financial guarantees | – financial | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 1 | $ 5 |
Financial assets at amortised cost, category | Financial guarantees | – financial | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (1) | $ (1) |
Financial assets at amortised cost, category | Financial guarantees | – financial | Lifetime expected credit losses | POCI | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | Financial guarantees | – financial | Lifetime expected credit losses | POCI | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 0 | $ 0 |
Financial assets at amortised cost, category | Financial guarantees | – financial | Lifetime expected credit losses | POCI | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 0 | $ 0 |
Report Of The Directors Finan_7
Report Of The Directors Financial Review Risk Report - Stage 2 days past due analysis (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ 2,621,427 | $ 2,471,203 |
Loans and advances to customers | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,036,743 | 981,696 |
Loans and advances to banks | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 69,203 | 72,167 |
Financial assets at amortised cost, category | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ 85,735 | $ 62,666 |
ECL coverage | 0.40% | 0.40% |
Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ 2,350,116 | $ 2,260,944 |
Financial assets at amortised cost, category | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ (9,243) | $ (9,111) |
Financial assets at amortised cost, category | Loans and advances to customers | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
ECL coverage | 0.80% | 0.90% |
Financial assets at amortised cost, category | Loans and advances to customers | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ 1,045,475 | $ 990,321 |
Financial assets at amortised cost, category | Loans and advances to customers | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ (8,732) | $ (8,625) |
Financial assets at amortised cost, category | Loans and advances to banks | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | Loans and advances to banks | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ 69,219 | $ 72,180 |
Financial assets at amortised cost, category | Loans and advances to banks | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ (16) | $ (13) |
Financial assets at amortised cost, category | Other financial assets | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | Other financial assets | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ 615,179 | $ 582,917 |
Financial assets at amortised cost, category | Other financial assets | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ (118) | $ (55) |
Financial assets at amortised cost, category | Financial instruments not credit-impaired | Lifetime expected credit losses | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
ECL coverage | 2.30% | 2.40% |
Financial assets at amortised cost, category | Financial instruments not credit-impaired | Lifetime expected credit losses | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ 107,417 | $ 96,802 |
Financial assets at amortised cost, category | Financial instruments not credit-impaired | Lifetime expected credit losses | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ (2,479) | $ (2,284) |
Financial assets at amortised cost, category | Financial instruments not credit-impaired | Lifetime expected credit losses | Loans and advances to customers | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
ECL coverage | 2.80% | 3.10% |
Financial assets at amortised cost, category | Financial instruments not credit-impaired | Lifetime expected credit losses | Loans and advances to customers | 1 to 29 DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
ECL coverage | 8.40% | 8.00% |
Financial assets at amortised cost, category | Financial instruments not credit-impaired | Lifetime expected credit losses | Loans and advances to customers | 30 and greater DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
ECL coverage | 14.70% | 13.30% |
Financial assets at amortised cost, category | Financial instruments not credit-impaired | Lifetime expected credit losses | Loans and advances to customers | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ 80,182 | $ 68,581 |
Financial assets at amortised cost, category | Financial instruments not credit-impaired | Lifetime expected credit losses | Loans and advances to customers | Gross carrying amount | 1 to 29 DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 2,471 | 2,561 |
Financial assets at amortised cost, category | Financial instruments not credit-impaired | Lifetime expected credit losses | Loans and advances to customers | Gross carrying amount | 30 and greater DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,676 | 1,914 |
Financial assets at amortised cost, category | Financial instruments not credit-impaired | Lifetime expected credit losses | Loans and advances to customers | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (2,284) | (2,108) |
Financial assets at amortised cost, category | Financial instruments not credit-impaired | Lifetime expected credit losses | Loans and advances to customers | Allowance for ECL | 1 to 29 DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (208) | (204) |
Financial assets at amortised cost, category | Financial instruments not credit-impaired | Lifetime expected credit losses | Loans and advances to customers | Allowance for ECL | 30 and greater DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ (247) | $ (254) |
Financial assets at amortised cost, category | Financial instruments not credit-impaired | Lifetime expected credit losses | Loans and advances to banks | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
ECL coverage | 0.10% | 0.70% |
Financial assets at amortised cost, category | Financial instruments not credit-impaired | Lifetime expected credit losses | Loans and advances to banks | 1 to 29 DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | Financial instruments not credit-impaired | Lifetime expected credit losses | Loans and advances to banks | 30 and greater DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | Financial instruments not credit-impaired | Lifetime expected credit losses | Loans and advances to banks | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ 1,450 | $ 307 |
Financial assets at amortised cost, category | Financial instruments not credit-impaired | Lifetime expected credit losses | Loans and advances to banks | Gross carrying amount | 1 to 29 DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Financial assets at amortised cost, category | Financial instruments not credit-impaired | Lifetime expected credit losses | Loans and advances to banks | Gross carrying amount | 30 and greater DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Financial assets at amortised cost, category | Financial instruments not credit-impaired | Lifetime expected credit losses | Loans and advances to banks | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (2) | (2) |
Financial assets at amortised cost, category | Financial instruments not credit-impaired | Lifetime expected credit losses | Loans and advances to banks | Allowance for ECL | 1 to 29 DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Financial assets at amortised cost, category | Financial instruments not credit-impaired | Lifetime expected credit losses | Loans and advances to banks | Allowance for ECL | 30 and greater DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ 0 | $ 0 |
Financial assets at amortised cost, category | Financial instruments not credit-impaired | Lifetime expected credit losses | Other financial assets | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
ECL coverage | 2.10% | 0.40% |
Financial assets at amortised cost, category | Financial instruments not credit-impaired | Lifetime expected credit losses | Other financial assets | 1 to 29 DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | Financial instruments not credit-impaired | Lifetime expected credit losses | Other financial assets | 30 and greater DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | Financial instruments not credit-impaired | Lifetime expected credit losses | Other financial assets | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ 1,827 | $ 1,673 |
Financial assets at amortised cost, category | Financial instruments not credit-impaired | Lifetime expected credit losses | Other financial assets | Gross carrying amount | 1 to 29 DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 14 | 10 |
Financial assets at amortised cost, category | Financial instruments not credit-impaired | Lifetime expected credit losses | Other financial assets | Gross carrying amount | 30 and greater DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 30 | 26 |
Financial assets at amortised cost, category | Financial instruments not credit-impaired | Lifetime expected credit losses | Other financial assets | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (38) | (6) |
Financial assets at amortised cost, category | Financial instruments not credit-impaired | Lifetime expected credit losses | Other financial assets | Allowance for ECL | 1 to 29 DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Financial assets at amortised cost, category | Financial instruments not credit-impaired | Lifetime expected credit losses | Other financial assets | Allowance for ECL | 30 and greater DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ 0 | $ 0 |
Financial assets at amortised cost, category | – personal | Loans and advances to customers | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
ECL coverage | 0.70% | 0.70% |
Financial assets at amortised cost, category | – personal | Loans and advances to customers | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ 434,271 | $ 394,337 |
Financial assets at amortised cost, category | – personal | Loans and advances to customers | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ (3,134) | $ (2,947) |
Financial assets at amortised cost, category | – personal | Financial instruments not credit-impaired | Lifetime expected credit losses | Loans and advances to customers | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
ECL coverage | 8.50% | 8.40% |
Financial assets at amortised cost, category | – personal | Financial instruments not credit-impaired | Lifetime expected credit losses | Loans and advances to customers | 1 to 29 DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
ECL coverage | 9.90% | 9.10% |
Financial assets at amortised cost, category | – personal | Financial instruments not credit-impaired | Lifetime expected credit losses | Loans and advances to customers | 30 and greater DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
ECL coverage | 16.80% | 15.90% |
Financial assets at amortised cost, category | – personal | Financial instruments not credit-impaired | Lifetime expected credit losses | Loans and advances to customers | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ 15,751 | $ 15,075 |
Financial assets at amortised cost, category | – personal | Financial instruments not credit-impaired | Lifetime expected credit losses | Loans and advances to customers | Gross carrying amount | 1 to 29 DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,804 | 1,807 |
Financial assets at amortised cost, category | – personal | Financial instruments not credit-impaired | Lifetime expected credit losses | Loans and advances to customers | Gross carrying amount | 30 and greater DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,289 | 1,383 |
Financial assets at amortised cost, category | – personal | Financial instruments not credit-impaired | Lifetime expected credit losses | Loans and advances to customers | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (1,336) | (1,265) |
Financial assets at amortised cost, category | – personal | Financial instruments not credit-impaired | Lifetime expected credit losses | Loans and advances to customers | Allowance for ECL | 1 to 29 DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (178) | (165) |
Financial assets at amortised cost, category | – personal | Financial instruments not credit-impaired | Lifetime expected credit losses | Loans and advances to customers | Allowance for ECL | 30 and greater DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ (217) | $ (220) |
Financial assets at amortised cost, category | – corporate and commercial | Loans and advances to customers | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
ECL coverage | 1.00% | 1.00% |
Financial assets at amortised cost, category | – corporate and commercial | Loans and advances to customers | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ 540,499 | $ 534,577 |
Financial assets at amortised cost, category | – corporate and commercial | Loans and advances to customers | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ (5,438) | $ (5,552) |
Financial assets at amortised cost, category | – corporate and commercial | Financial instruments not credit-impaired | Lifetime expected credit losses | Loans and advances to customers | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
ECL coverage | 1.50% | 1.60% |
Financial assets at amortised cost, category | – corporate and commercial | Financial instruments not credit-impaired | Lifetime expected credit losses | Loans and advances to customers | 1 to 29 DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
ECL coverage | 4.60% | 5.20% |
Financial assets at amortised cost, category | – corporate and commercial | Financial instruments not credit-impaired | Lifetime expected credit losses | Loans and advances to customers | 30 and greater DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
ECL coverage | 7.80% | 7.00% |
Financial assets at amortised cost, category | – corporate and commercial | Financial instruments not credit-impaired | Lifetime expected credit losses | Loans and advances to customers | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ 59,599 | $ 51,341 |
Financial assets at amortised cost, category | – corporate and commercial | Financial instruments not credit-impaired | Lifetime expected credit losses | Loans and advances to customers | Gross carrying amount | 1 to 29 DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 657 | 744 |
Financial assets at amortised cost, category | – corporate and commercial | Financial instruments not credit-impaired | Lifetime expected credit losses | Loans and advances to customers | Gross carrying amount | 30 and greater DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 385 | 485 |
Financial assets at amortised cost, category | – corporate and commercial | Financial instruments not credit-impaired | Lifetime expected credit losses | Loans and advances to customers | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (920) | (812) |
Financial assets at amortised cost, category | – corporate and commercial | Financial instruments not credit-impaired | Lifetime expected credit losses | Loans and advances to customers | Allowance for ECL | 1 to 29 DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (30) | (39) |
Financial assets at amortised cost, category | – corporate and commercial | Financial instruments not credit-impaired | Lifetime expected credit losses | Loans and advances to customers | Allowance for ECL | 30 and greater DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ (30) | $ (34) |
Financial assets at amortised cost, category | – non-bank financial institutions | Loans and advances to customers | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
ECL coverage | 0.20% | 0.20% |
Financial assets at amortised cost, category | – non-bank financial institutions | Loans and advances to customers | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ 70,705 | $ 61,407 |
Financial assets at amortised cost, category | – non-bank financial institutions | Loans and advances to customers | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ (160) | $ (126) |
Financial assets at amortised cost, category | – non-bank financial institutions | Financial instruments not credit-impaired | Lifetime expected credit losses | Loans and advances to customers | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
ECL coverage | 0.60% | 1.40% |
Financial assets at amortised cost, category | – non-bank financial institutions | Financial instruments not credit-impaired | Lifetime expected credit losses | Loans and advances to customers | 1 to 29 DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | – non-bank financial institutions | Financial instruments not credit-impaired | Lifetime expected credit losses | Loans and advances to customers | 30 and greater DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | – non-bank financial institutions | Financial instruments not credit-impaired | Lifetime expected credit losses | Loans and advances to customers | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ 4,832 | $ 2,165 |
Financial assets at amortised cost, category | – non-bank financial institutions | Financial instruments not credit-impaired | Lifetime expected credit losses | Loans and advances to customers | Gross carrying amount | 1 to 29 DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 10 | 10 |
Financial assets at amortised cost, category | – non-bank financial institutions | Financial instruments not credit-impaired | Lifetime expected credit losses | Loans and advances to customers | Gross carrying amount | 30 and greater DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 2 | 46 |
Financial assets at amortised cost, category | – non-bank financial institutions | Financial instruments not credit-impaired | Lifetime expected credit losses | Loans and advances to customers | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (28) | (31) |
Financial assets at amortised cost, category | – non-bank financial institutions | Financial instruments not credit-impaired | Lifetime expected credit losses | Loans and advances to customers | Allowance for ECL | 1 to 29 DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Financial assets at amortised cost, category | – non-bank financial institutions | Financial instruments not credit-impaired | Lifetime expected credit losses | Loans and advances to customers | Allowance for ECL | 30 and greater DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ 0 | $ 0 |
Report Of The Directors Finan_8
Report Of The Directors Financial Review Risk Report - Maximum exposure to credit risk (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of detailed information about financial instruments [line items] | ||
Maximum exposure | $ 2,858,835 | $ 2,722,039 |
Offset | (290,258) | (245,628) |
Net | 2,568,577 | 2,476,411 |
On-balance sheet risk | ||
Disclosure of detailed information about financial instruments [line items] | ||
Maximum exposure | 1,965,589 | 1,847,288 |
Offset | (290,258) | (245,628) |
Net | 1,675,331 | 1,601,660 |
On-balance sheet risk | Loans and advances to customers | ||
Disclosure of detailed information about financial instruments [line items] | ||
Maximum exposure | 1,036,743 | 981,696 |
Offset | (28,524) | (29,534) |
Net | 1,008,219 | 952,162 |
On-balance sheet risk | Loans and advances to customers | – personal | ||
Disclosure of detailed information about financial instruments [line items] | ||
Maximum exposure | 431,137 | 391,390 |
Offset | (4,640) | (3,679) |
Net | 426,497 | 387,711 |
On-balance sheet risk | Loans and advances to customers | – corporate and commercial | ||
Disclosure of detailed information about financial instruments [line items] | ||
Maximum exposure | 535,061 | 529,025 |
Offset | (21,745) | (23,421) |
Net | 513,316 | 505,604 |
On-balance sheet risk | Loans and advances to customers | – non-bank financial institutions | ||
Disclosure of detailed information about financial instruments [line items] | ||
Maximum exposure | 70,545 | 61,281 |
Offset | (2,139) | (2,434) |
Net | 68,406 | 58,847 |
On-balance sheet risk | Loans and advances to banks | ||
Disclosure of detailed information about financial instruments [line items] | ||
Maximum exposure | 69,203 | 72,167 |
Offset | 0 | 0 |
Net | 69,203 | 72,167 |
On-balance sheet risk | Other financial assets | ||
Disclosure of detailed information about financial instruments [line items] | ||
Maximum exposure | 616,648 | 585,600 |
Offset | (28,826) | (21,788) |
Net | 587,822 | 563,812 |
On-balance sheet risk | Cash and balances at central banks | ||
Disclosure of detailed information about financial instruments [line items] | ||
Maximum exposure | 154,099 | 162,843 |
Offset | 0 | 0 |
Net | 154,099 | 162,843 |
On-balance sheet risk | Items in the course of collection from other banks | ||
Disclosure of detailed information about financial instruments [line items] | ||
Maximum exposure | 4,956 | 5,787 |
Offset | 0 | 0 |
Net | 4,956 | 5,787 |
On-balance sheet risk | Hong Kong Government certificates of indebtedness | ||
Disclosure of detailed information about financial instruments [line items] | ||
Maximum exposure | 38,380 | 35,859 |
Offset | 0 | 0 |
Net | 38,380 | 35,859 |
On-balance sheet risk | Reverse repurchase agreements – non-trading | ||
Disclosure of detailed information about financial instruments [line items] | ||
Maximum exposure | 240,862 | 242,804 |
Offset | (28,826) | (21,788) |
Net | 212,036 | 221,016 |
On-balance sheet risk | Financial investments | ||
Disclosure of detailed information about financial instruments [line items] | ||
Maximum exposure | 85,735 | 62,666 |
Offset | 0 | 0 |
Net | 85,735 | 62,666 |
On-balance sheet risk | Prepayments, accrued income and other assets | ||
Disclosure of detailed information about financial instruments [line items] | ||
Maximum exposure | 92,616 | 75,641 |
Offset | 0 | 0 |
Net | 92,616 | 75,641 |
On-balance sheet risk | Derivatives | ||
Disclosure of detailed information about financial instruments [line items] | ||
Maximum exposure | 242,995 | 207,825 |
Offset | (232,908) | (194,306) |
Net | 10,087 | 13,519 |
Off-balance sheet risk | ||
Disclosure of detailed information about financial instruments [line items] | ||
Maximum exposure | 893,246 | 874,751 |
Offset | 0 | 0 |
Net | 893,246 | 874,751 |
Off-balance sheet risk | Financial and other guarantees | ||
Disclosure of detailed information about financial instruments [line items] | ||
Maximum exposure | 95,967 | 94,810 |
Offset | 0 | 0 |
Net | 95,967 | 94,810 |
Off-balance sheet risk | Loans and other credit-related commitments | ||
Disclosure of detailed information about financial instruments [line items] | ||
Maximum exposure | 797,279 | 779,941 |
Offset | 0 | 0 |
Net | $ 797,279 | $ 779,941 |
Report Of The Directors Finan_9
Report Of The Directors Financial Review Risk Report - Reconciliation of changes in gross carrying/nominal amount and allowances for loans and advances to banks and customers including loan commitments and financial guarantees (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | $ 2,471,203 | |
Financial assets, ending balance | 2,621,427 | $ 2,471,203 |
Financial assets | 2,621,427 | 2,471,203 |
Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 62,666 | |
Financial assets, ending balance | 85,735 | 62,666 |
Financial assets | 85,735 | 62,666 |
Debt securities | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 62,666 | |
Financial assets, ending balance | 85,735 | 62,666 |
Financial assets | 85,735 | 62,666 |
Debt securities | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 61,987 | |
Financial assets, ending balance | 75,259 | 61,987 |
Financial assets | 75,259 | 61,987 |
IFRS 9 | Financial assets measured at fair value through other comprehensive income, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 341,782 | |
Financial assets, ending balance | 351,725 | 341,782 |
Financial assets | 351,725 | 341,782 |
IFRS 9 | Other financial assets | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 582,862 | |
Financial assets, ending balance | 615,061 | 582,862 |
Financial assets | 615,061 | 582,862 |
IFRS 9 | Reverse repurchase agreements – non-trading | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 242,804 | |
Financial assets, ending balance | 240,862 | 242,804 |
Financial assets | 240,862 | 242,804 |
IFRS 9 | Debt securities | Financial assets measured at fair value through other comprehensive income, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 341,782 | |
Financial assets, ending balance | 351,725 | 341,782 |
Financial assets | 351,725 | 341,782 |
12-month expected credit losses | Financial instruments not credit-impaired | IFRS 9 | Other financial assets | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 581,091 | |
Financial assets, ending balance | 613,162 | 581,091 |
Financial assets | 613,162 | 581,091 |
12-month expected credit losses | Financial instruments not credit-impaired | IFRS 9 | Debt securities | Financial assets measured at fair value through other comprehensive income, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 341,022 | |
Financial assets, ending balance | 350,876 | 341,022 |
Financial assets | 350,876 | 341,022 |
Lifetime expected credit losses | Financial instruments not credit-impaired | IFRS 9 | Other financial assets | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 1,667 | |
Financial assets, ending balance | 1,789 | 1,667 |
Financial assets | 1,789 | 1,667 |
Lifetime expected credit losses | Financial instruments not credit-impaired | IFRS 9 | Debt securities | Financial assets measured at fair value through other comprehensive income, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 749 | |
Financial assets, ending balance | 848 | 749 |
Financial assets | 848 | 749 |
Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | IFRS 9 | Other financial assets | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 104 | |
Financial assets, ending balance | 109 | 104 |
Financial assets | 109 | 104 |
Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | IFRS 9 | Debt securities | Financial assets measured at fair value through other comprehensive income, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 7 | |
Financial assets, ending balance | 0 | 7 |
Financial assets | 0 | 7 |
Lifetime expected credit losses | POCI | IFRS 9 | Other financial assets | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 0 | |
Financial assets, ending balance | 1 | 0 |
Financial assets | 1 | 0 |
Lifetime expected credit losses | POCI | IFRS 9 | Debt securities | Financial assets measured at fair value through other comprehensive income, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 4 | |
Financial assets, ending balance | 1 | 4 |
Financial assets | 1 | 4 |
Gross carrying amount | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 2,260,944 | |
Financial assets, ending balance | 2,350,116 | 2,260,944 |
Financial assets | 2,350,116 | 2,260,944 |
Gross carrying amount | Loans and advances to banks and customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 1,612,646 | 1,565,014 |
New financial assets originated or purchased | 504,199 | |
Net new lending and further lending/payments | 107,217 | |
Assets derecognised (including final repayments) | (375,608) | |
Changes to risk parameters – further lending/repayment | (74,369) | |
Assets written off | (2,797) | (2,569) |
Credit-related modifications that resulted in derecognition | (268) | |
Foreign exchange | 18,200 | (56,508) |
Others | (159) | (508) |
Financial assets, ending balance | 1,681,844 | 1,612,646 |
Financial assets | 1,681,844 | 1,612,646 |
Gross carrying amount | Other financial assets | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 582,917 | |
Financial assets, ending balance | 615,179 | 582,917 |
Financial assets | 615,179 | 582,917 |
Gross carrying amount | Debt securities | Financial assets measured at fair value through other comprehensive income, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 343,110 | |
Financial assets, ending balance | 355,664 | 343,110 |
Financial assets | 355,664 | 343,110 |
Gross carrying amount | IFRS 9 | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 1,645,418 | |
Financial assets, ending balance | 1,729,873 | 1,645,418 |
Financial assets | 1,729,873 | 1,645,418 |
Gross carrying amount | IFRS 9 | Financial assets measured at fair value through other comprehensive income, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 341,866 | |
Financial assets, ending balance | 351,891 | 341,866 |
Financial assets | 351,891 | 341,866 |
Gross carrying amount | IFRS 9 | Financial instruments including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 2,260,944 | |
Financial assets, ending balance | 2,350,116 | 2,260,944 |
Financial assets | 2,350,116 | 2,260,944 |
Gross carrying amount | IFRS 9 | Other financial assets | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 582,917 | |
Financial assets, ending balance | 615,179 | 582,917 |
Financial assets | 615,179 | 582,917 |
Gross carrying amount | IFRS 9 | Reverse repurchase agreements – non-trading | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 65,381 | |
Financial assets, ending balance | 53,093 | 65,381 |
Financial assets | 53,093 | 65,381 |
Gross carrying amount | IFRS 9 | Reverse repurchase agreements – non-trading | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 242,804 | |
Financial assets, ending balance | 240,862 | 242,804 |
Financial assets | 240,862 | 242,804 |
Gross carrying amount | IFRS 9 | Debt securities | Financial assets measured at fair value through other comprehensive income, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 341,866 | |
Financial assets, ending balance | 351,891 | 341,866 |
Financial assets | 351,891 | 341,866 |
Gross carrying amount | 12-month expected credit losses | Financial instruments not credit-impaired | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 2,149,450 | |
Financial assets, ending balance | 2,227,867 | 2,149,450 |
Financial assets | 2,227,867 | 2,149,450 |
Gross carrying amount | 12-month expected credit losses | Financial instruments not credit-impaired | Loans and advances to banks and customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 1,502,976 | 1,446,857 |
Transfers of financial instruments: | (36,244) | (8,747) |
– transfers from stage 1 to stage 2 | (108,434) | (84,181) |
– transfers from stage 2 to stage 1 | 73,086 | 77,325 |
– transfers to stage 3 | (1,284) | (2,250) |
– transfers from stage 3 | 388 | 359 |
New financial assets originated or purchased | 504,064 | |
Net new lending and further lending/payments | 126,868 | |
Assets derecognised (including final repayments) | (352,961) | |
Changes to risk parameters – further lending/repayment | (72,239) | |
Foreign exchange | 16,838 | (52,911) |
Others | (821) | (9,091) |
Financial assets, ending balance | 1,561,613 | 1,502,976 |
Financial assets | 1,561,613 | 1,502,976 |
Gross carrying amount | 12-month expected credit losses | Financial instruments not credit-impaired | Other financial assets | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 581,118 | |
Financial assets, ending balance | 613,200 | 581,118 |
Financial assets | 613,200 | 581,118 |
Gross carrying amount | 12-month expected credit losses | Financial instruments not credit-impaired | IFRS 9 | Other financial assets | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 581,118 | |
Financial assets, ending balance | 613,200 | 581,118 |
Financial assets | 613,200 | 581,118 |
Gross carrying amount | 12-month expected credit losses | Financial instruments not credit-impaired | IFRS 9 | Debt securities | Financial assets measured at fair value through other comprehensive income, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 341,055 | |
Financial assets, ending balance | 350,915 | 341,055 |
Financial assets | 350,915 | 341,055 |
Gross carrying amount | Lifetime expected credit losses | Financial instruments not credit-impaired | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 96,802 | |
Financial assets, ending balance | 107,417 | 96,802 |
Financial assets | 107,417 | 96,802 |
Gross carrying amount | Lifetime expected credit losses | Financial instruments not credit-impaired | Loans and advances to banks and customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 95,104 | 102,032 |
Transfers of financial instruments: | 31,063 | 3,582 |
– transfers from stage 1 to stage 2 | 108,434 | 84,181 |
– transfers from stage 2 to stage 1 | (73,086) | (77,325) |
– transfers to stage 3 | (5,022) | (4,439) |
– transfers from stage 3 | 737 | 1,165 |
Net new lending and further lending/payments | (16,162) | |
Assets derecognised (including final repayments) | (19,909) | |
Changes to risk parameters – further lending/repayment | (2,560) | |
Foreign exchange | 1,201 | (2,935) |
Others | 652 | 8,587 |
Financial assets, ending balance | 105,551 | 95,104 |
Financial assets | 105,551 | 95,104 |
Gross carrying amount | Lifetime expected credit losses | Financial instruments not credit-impaired | Other financial assets | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 1,673 | |
Financial assets, ending balance | 1,827 | 1,673 |
Financial assets | 1,827 | 1,673 |
Gross carrying amount | Lifetime expected credit losses | Financial instruments not credit-impaired | IFRS 9 | Other financial assets | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 1,673 | |
Financial assets, ending balance | 1,827 | 1,673 |
Financial assets | 1,827 | 1,673 |
Gross carrying amount | Lifetime expected credit losses | Financial instruments not credit-impaired | IFRS 9 | Debt securities | Financial assets measured at fair value through other comprehensive income, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 799 | |
Financial assets, ending balance | 975 | 799 |
Financial assets | 975 | 799 |
Gross carrying amount | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 14,358 | |
Financial assets, ending balance | 14,486 | 14,358 |
Financial assets | 14,486 | 14,358 |
Gross carrying amount | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Loans and advances to banks and customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 14,232 | 15,083 |
Transfers of financial instruments: | 5,181 | 5,165 |
– transfers to stage 3 | 6,306 | 6,689 |
– transfers from stage 3 | (1,125) | (1,524) |
Net new lending and further lending/payments | (2,902) | |
Assets derecognised (including final repayments) | (2,712) | |
Changes to risk parameters – further lending/repayment | 402 | |
Assets written off | (2,657) | (2,568) |
Credit-related modifications that resulted in derecognition | (268) | |
Foreign exchange | 160 | (636) |
Others | (3) | 90 |
Financial assets, ending balance | 14,335 | 14,232 |
Financial assets | 14,335 | 14,232 |
Gross carrying amount | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Other financial assets | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 126 | |
Financial assets, ending balance | 151 | 126 |
Financial assets | 151 | 126 |
Gross carrying amount | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | IFRS 9 | Other financial assets | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 126 | |
Financial assets, ending balance | 151 | 126 |
Financial assets | 151 | 126 |
Gross carrying amount | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | IFRS 9 | Debt securities | Financial assets measured at fair value through other comprehensive income, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 8 | |
Financial assets, ending balance | 0 | 8 |
Financial assets | 0 | 8 |
Gross carrying amount | Lifetime expected credit losses | POCI | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 334 | |
Financial assets, ending balance | 346 | 334 |
Financial assets | 346 | 334 |
Gross carrying amount | Lifetime expected credit losses | POCI | Loans and advances to banks and customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 334 | 1,042 |
New financial assets originated or purchased | 135 | |
Net new lending and further lending/payments | (587) | |
Assets derecognised (including final repayments) | (26) | |
Changes to risk parameters – further lending/repayment | 28 | |
Assets written off | (140) | (1) |
Foreign exchange | 1 | (26) |
Others | 13 | (94) |
Financial assets, ending balance | 345 | 334 |
Financial assets | 345 | 334 |
Gross carrying amount | Lifetime expected credit losses | POCI | Other financial assets | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 0 | |
Financial assets, ending balance | 1 | 0 |
Financial assets | 1 | 0 |
Gross carrying amount | Lifetime expected credit losses | POCI | IFRS 9 | Other financial assets | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 0 | |
Financial assets, ending balance | 1 | 0 |
Financial assets | 1 | 0 |
Gross carrying amount | Lifetime expected credit losses | POCI | IFRS 9 | Debt securities | Financial assets measured at fair value through other comprehensive income, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 4 | |
Financial assets, ending balance | 1 | 4 |
Financial assets | 1 | 4 |
Allowance for ECL | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (9,111) | |
Financial assets, ending balance | (9,243) | (9,111) |
Financial assets | (9,243) | (9,111) |
Allowance for ECL | Financial instruments including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (9,195) | |
Financial assets, ending balance | (9,409) | (9,195) |
Total ECL income statement change for the period | (2,756) | (1,767) |
Financial assets | (9,409) | (9,195) |
Allowance for ECL | Loans and advances to banks and customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (9,056) | (9,839) |
Net remeasurement of ECL arising from transfer of stage | (121) | (88) |
New financial assets originated or purchased | (555) | |
Net new lending and further lending/payments | 827 | |
Assets derecognised (including final repayments) | 1,329 | |
Changes to risk parameters – further lending/repayment | 364 | |
Changes to risk parameters – credit quality | (3,961) | (2,953) |
Changes to models used for ECL calculation | 12 | 0 |
Assets written off | 2,797 | 2,553 |
Credit-related modifications that resulted in derecognition | 125 | |
Foreign exchange | (79) | 413 |
Others | 20 | 31 |
Financial assets, ending balance | (9,125) | (9,056) |
ECL income statement change for the period | (2,932) | (2,214) |
Recoveries | 361 | 408 |
Others | (20) | (62) |
Total ECL income statement change for the period | (2,591) | (1,868) |
Financial assets | (9,125) | (9,056) |
Allowance for ECL | Other financial assets | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (55) | |
Financial assets, ending balance | (118) | (55) |
Financial assets | (118) | (55) |
Allowance for ECL | Debt securities | Financial assets measured at fair value through other comprehensive income, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (84) | |
Financial assets, ending balance | (166) | (84) |
Total ECL income statement change for the period | (105) | 105 |
Financial assets | (166) | (84) |
Allowance for ECL | IFRS 9 | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (8,693) | |
Financial assets, ending balance | (8,866) | (8,693) |
Financial assets | (8,866) | (8,693) |
Allowance for ECL | IFRS 9 | Financial assets measured at fair value through other comprehensive income, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (84) | |
Financial assets, ending balance | (166) | (84) |
Financial assets | (166) | (84) |
Allowance for ECL | IFRS 9 | Financial instruments including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (9,111) | |
Financial assets, ending balance | (9,243) | (9,111) |
Total ECL income statement change for the period | (2,651) | (1,872) |
Financial assets | (9,243) | (9,111) |
Allowance for ECL | IFRS 9 | Other financial assets | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (55) | |
Financial assets, ending balance | (118) | (55) |
Total ECL income statement change for the period | (26) | 21 |
Financial assets | (118) | (55) |
Allowance for ECL | IFRS 9 | Reverse repurchase agreements – non-trading | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 0 | |
Financial assets, ending balance | 0 | 0 |
Financial assets | 0 | 0 |
Allowance for ECL | IFRS 9 | Performance and other guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Total ECL income statement change for the period | (34) | (25) |
Allowance for ECL | IFRS 9 | Debt securities | Financial assets measured at fair value through other comprehensive income, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (84) | |
Financial assets, ending balance | (166) | (84) |
Financial assets | (166) | (84) |
Allowance for ECL | 12-month expected credit losses | Financial instruments not credit-impaired | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (1,476) | |
Financial assets, ending balance | (1,502) | (1,476) |
Financial assets | (1,502) | (1,476) |
Allowance for ECL | 12-month expected credit losses | Financial instruments not credit-impaired | Loans and advances to banks and customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (1,449) | (1,469) |
Transfers of financial instruments: | (543) | (685) |
– transfers from stage 1 to stage 2 | 487 | 319 |
– transfers from stage 2 to stage 1 | (1,044) | (999) |
– transfers to stage 3 | 59 | 35 |
– transfers from stage 3 | (45) | (40) |
Net remeasurement of ECL arising from transfer of stage | 669 | 620 |
New financial assets originated or purchased | (534) | |
Net new lending and further lending/payments | (512) | |
Assets derecognised (including final repayments) | 112 | |
Changes to risk parameters – further lending/repayment | 291 | |
Changes to risk parameters – credit quality | 2 | 423 |
Changes to models used for ECL calculation | (6) | 0 |
Foreign exchange | (9) | 76 |
Others | 3 | 98 |
Financial assets, ending balance | (1,464) | (1,449) |
ECL income statement change for the period | 534 | 531 |
Financial assets | (1,464) | (1,449) |
Allowance for ECL | 12-month expected credit losses | Financial instruments not credit-impaired | Other financial assets | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (27) | |
Financial assets, ending balance | (38) | (27) |
Financial assets | (38) | (27) |
Allowance for ECL | 12-month expected credit losses | Financial instruments not credit-impaired | IFRS 9 | Other financial assets | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (27) | |
Financial assets, ending balance | (38) | (27) |
Financial assets | (38) | (27) |
Allowance for ECL | 12-month expected credit losses | Financial instruments not credit-impaired | IFRS 9 | Debt securities | Financial assets measured at fair value through other comprehensive income, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (33) | |
Financial assets, ending balance | (39) | (33) |
Financial assets | (39) | (33) |
Allowance for ECL | Lifetime expected credit losses | Financial instruments not credit-impaired | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (2,284) | |
Financial assets, ending balance | (2,479) | (2,284) |
Financial assets | (2,479) | (2,284) |
Allowance for ECL | Lifetime expected credit losses | Financial instruments not credit-impaired | Loans and advances to banks and customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (2,278) | (2,406) |
Transfers of financial instruments: | 1,134 | 1,185 |
– transfers from stage 1 to stage 2 | (487) | (319) |
– transfers from stage 2 to stage 1 | 1,044 | 999 |
– transfers to stage 3 | 665 | 607 |
– transfers from stage 3 | (88) | (102) |
Net remeasurement of ECL arising from transfer of stage | (676) | (605) |
Net new lending and further lending/payments | 564 | |
Assets derecognised (including final repayments) | 553 | |
Changes to risk parameters – further lending/repayment | 67 | |
Changes to risk parameters – credit quality | (1,208) | (1,087) |
Changes to models used for ECL calculation | 4 | 0 |
Foreign exchange | (40) | 99 |
Others | 3 | (28) |
Financial assets, ending balance | (2,441) | (2,278) |
ECL income statement change for the period | (1,260) | (1,128) |
Financial assets | (2,441) | (2,278) |
Allowance for ECL | Lifetime expected credit losses | Financial instruments not credit-impaired | Other financial assets | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (6) | |
Financial assets, ending balance | (38) | (6) |
Financial assets | (38) | (6) |
Allowance for ECL | Lifetime expected credit losses | Financial instruments not credit-impaired | IFRS 9 | Other financial assets | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (6) | |
Financial assets, ending balance | (38) | (6) |
Financial assets | (38) | (6) |
Allowance for ECL | Lifetime expected credit losses | Financial instruments not credit-impaired | IFRS 9 | Debt securities | Financial assets measured at fair value through other comprehensive income, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (50) | |
Financial assets, ending balance | (127) | (50) |
Financial assets | (127) | (50) |
Allowance for ECL | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (5,157) | |
Financial assets, ending balance | (5,163) | (5,157) |
Financial assets | (5,163) | (5,157) |
Allowance for ECL | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Loans and advances to banks and customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (5,135) | (5,722) |
Transfers of financial instruments: | (591) | (500) |
– transfers to stage 3 | (724) | (642) |
– transfers from stage 3 | 133 | 142 |
Net remeasurement of ECL arising from transfer of stage | (114) | (103) |
Net new lending and further lending/payments | 733 | |
Assets derecognised (including final repayments) | 656 | |
Changes to risk parameters – further lending/repayment | (6) | |
Changes to risk parameters – credit quality | (2,704) | (2,238) |
Changes to models used for ECL calculation | 14 | 0 |
Assets written off | 2,657 | 2,552 |
Credit-related modifications that resulted in derecognition | 125 | |
Foreign exchange | (31) | 232 |
Others | 8 | (89) |
Financial assets, ending balance | (5,121) | (5,135) |
ECL income statement change for the period | (2,154) | (1,608) |
Financial assets | (5,121) | (5,135) |
Allowance for ECL | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Other financial assets | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (22) | |
Financial assets, ending balance | (42) | (22) |
Financial assets | (42) | (22) |
Allowance for ECL | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | IFRS 9 | Other financial assets | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (22) | |
Financial assets, ending balance | (42) | (22) |
Financial assets | (42) | (22) |
Allowance for ECL | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | IFRS 9 | Debt securities | Financial assets measured at fair value through other comprehensive income, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (1) | |
Financial assets, ending balance | 0 | (1) |
Financial assets | 0 | (1) |
Allowance for ECL | Lifetime expected credit losses | POCI | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (194) | |
Financial assets, ending balance | (99) | (194) |
Financial assets | (99) | (194) |
Allowance for ECL | Lifetime expected credit losses | POCI | Loans and advances to banks and customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (194) | (242) |
New financial assets originated or purchased | (21) | |
Net new lending and further lending/payments | 42 | |
Assets derecognised (including final repayments) | 8 | |
Changes to risk parameters – further lending/repayment | 12 | |
Changes to risk parameters – credit quality | (51) | (51) |
Assets written off | 140 | 1 |
Foreign exchange | 1 | 6 |
Others | 6 | 50 |
Financial assets, ending balance | (99) | (194) |
ECL income statement change for the period | (52) | (9) |
Financial assets | (99) | (194) |
Allowance for ECL | Lifetime expected credit losses | POCI | Other financial assets | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 0 | |
Financial assets, ending balance | 0 | 0 |
Financial assets | 0 | 0 |
Allowance for ECL | Lifetime expected credit losses | POCI | IFRS 9 | Other financial assets | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 0 | |
Financial assets, ending balance | 0 | 0 |
Financial assets | 0 | 0 |
Allowance for ECL | Lifetime expected credit losses | POCI | IFRS 9 | Debt securities | Financial assets measured at fair value through other comprehensive income, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 0 | |
Financial assets, ending balance | 0 | 0 |
Financial assets | $ 0 | $ 0 |
Report Of The Directors Fina_10
Report Of The Directors Financial Review Risk Report - Distribution of financial instruments by credit quality (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ 2,621,427 | $ 2,471,203 |
Off-balance sheet commitments | 273,380 | 259,643 |
Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 273,512 | 259,742 |
Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | (132) | (99) |
Financial assets at amortised cost, category | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 85,735 | 62,666 |
Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 2,350,116 | 2,260,944 |
Financial assets at amortised cost, category | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (9,243) | (9,111) |
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 2,345 | 2,349 |
Loans and other credit-related commitments | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 197,579 | 188,258 |
Loans and other credit-related commitments | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 197,579 | 188,258 |
Loans and other credit-related commitments | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
Performance and other guarantees | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 75,801 | 71,385 |
Performance and other guarantees | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 75,933 | 71,484 |
Performance and other guarantees | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | (132) | (99) |
Loans and advances to customers | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,036,743 | 981,696 |
Loans and advances to customers | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,045,475 | 990,321 |
Loans and advances to customers | Financial assets at amortised cost, category | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (8,732) | (8,625) |
Loans and advances to banks | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 69,203 | 72,167 |
Loans and advances to banks | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 69,219 | 72,180 |
Loans and advances to banks | Financial assets at amortised cost, category | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (16) | (13) |
Debt securities | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 85,735 | 62,666 |
Debt securities | Financial assets at amortised cost, category | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 75,259 | 61,987 |
Debt securities | Financial assets measured at fair value through other comprehensive income, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 355,664 | 343,110 |
Debt securities | Financial assets measured at fair value through other comprehensive income, category | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (166) | (84) |
Debt securities | Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,714 | 1,708 |
Trading assets | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 175,444 | 177,234 |
Trading assets | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 175,444 | 177,234 |
Trading assets | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Other financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 615,179 | 582,917 |
Other financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Financial assets at amortised cost, category | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (118) | (55) |
Other financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 11,769 | 14,934 |
Other financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 11,769 | 14,934 |
Other financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Derivatives | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 242,995 | 207,825 |
Derivatives | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 242,995 | 207,825 |
Derivatives | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
– personal | Loans and advances to customers | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 434,271 | 394,337 |
– personal | Loans and advances to customers | Financial assets at amortised cost, category | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (3,134) | (2,947) |
– corporate and commercial | Loans and advances to customers | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 540,499 | 534,577 |
– corporate and commercial | Loans and advances to customers | Financial assets at amortised cost, category | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (5,438) | (5,552) |
– non-bank financial institutions | Loans and advances to customers | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 70,705 | 61,407 |
– non-bank financial institutions | Loans and advances to customers | Financial assets at amortised cost, category | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (160) | (126) |
Strong | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 96,247 | 214,937 |
Strong | Loans and other credit-related commitments | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 66,148 | 188,258 |
Strong | Performance and other guarantees | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 30,099 | 26,679 |
Strong | Trading assets | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 135,059 | 139,484 |
Strong | Other financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 4,655 | 6,079 |
Strong | Derivatives | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 187,636 | 169,121 |
Good | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 93,225 | 25,743 |
Good | Loans and other credit-related commitments | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 69,890 | 0 |
Good | Performance and other guarantees | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 23,335 | 25,743 |
Good | Trading assets | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 15,240 | 18,888 |
Good | Other financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,391 | 2,163 |
Good | Derivatives | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 42,642 | 31,225 |
Satisfactory | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 78,816 | 16,790 |
Satisfactory | Loans and other credit-related commitments | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 58,754 | 0 |
Satisfactory | Performance and other guarantees | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 20,062 | 16,790 |
Satisfactory | Trading assets | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 22,964 | 16,991 |
Satisfactory | Other financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 5,584 | 6,683 |
Satisfactory | Derivatives | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 11,894 | 6,813 |
Sub-standard | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 4,662 | 1,869 |
Sub-standard | Loans and other credit-related commitments | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 2,605 | 0 |
Sub-standard | Performance and other guarantees | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 2,057 | 1,869 |
Sub-standard | Trading assets | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 2,181 | 1,871 |
Sub-standard | Other financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 139 | 9 |
Sub-standard | Derivatives | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 821 | 625 |
Financial assets excluding equity securities | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 2,502,940 | 2,378,500 |
Financial assets excluding equity securities | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 2,511,972 | 2,387,277 |
Financial assets excluding equity securities | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (9,032) | (8,777) |
Financial assets excluding equity securities | Strong | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,783,286 | 1,694,864 |
Financial assets excluding equity securities | Good | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 388,474 | 361,024 |
Financial assets excluding equity securities | Satisfactory | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 300,774 | 295,622 |
Financial assets excluding equity securities | Sub-standard | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ 25,591 | $ 22,267 |
Portfolio Concentration Risk | Financial assets excluding equity securities | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Concentration risk percentage | 100.00% | 100.00% |
Portfolio Concentration Risk | Financial assets excluding equity securities | Strong | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Concentration risk percentage | 70.90% | 71.00% |
Portfolio Concentration Risk | Financial assets excluding equity securities | Good | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Concentration risk percentage | 15.50% | 15.10% |
Portfolio Concentration Risk | Financial assets excluding equity securities | Satisfactory | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Concentration risk percentage | 12.00% | 12.40% |
Portfolio Concentration Risk | Financial assets excluding equity securities | Sub-standard | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Concentration risk percentage | 1.00% | 0.90% |
Credit impaired | Credit impaired | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | $ 562 | $ 403 |
Credit impaired | Credit impaired | Loans and other credit-related commitments | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 182 | 0 |
Credit impaired | Credit impaired | Performance and other guarantees | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 380 | 403 |
Credit impaired | Credit impaired | Trading assets | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Credit impaired | Credit impaired | Other financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Credit impaired | Credit impaired | Derivatives | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 2 | 41 |
Credit impaired | Financial assets excluding equity securities | Credit impaired | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ 13,847 | $ 13,500 |
Credit impaired | Portfolio Concentration Risk | Financial assets excluding equity securities | Credit impaired | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Concentration risk percentage | 0.60% | 0.60% |
IFRS 9 | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | $ 619,866 | $ 615,108 |
IFRS 9 | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,729,873 | 1,645,418 |
Off-balance sheet commitments | 620,243 | 615,526 |
IFRS 9 | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (8,866) | (8,693) |
Off-balance sheet commitments | (377) | (418) |
IFRS 9 | Financial assets measured at fair value through other comprehensive income, category | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 351,725 | 341,782 |
IFRS 9 | Financial assets measured at fair value through other comprehensive income, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 351,891 | 341,866 |
IFRS 9 | Financial assets measured at fair value through other comprehensive income, category | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (166) | (84) |
IFRS 9 | Loans and other credit-related commitments | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 599,700 | 591,683 |
IFRS 9 | Loans and other credit-related commitments | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 600,029 | 592,008 |
IFRS 9 | Loans and other credit-related commitments | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | (329) | (325) |
IFRS 9 | Financial guarantee and similar contracts | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 20,166 | 23,425 |
IFRS 9 | Financial guarantee and similar contracts | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 20,214 | 23,518 |
IFRS 9 | Financial guarantee and similar contracts | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | (48) | (93) |
IFRS 9 | Loans and advances to customers | Financial assets at amortised cost, category | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,036,743 | 981,696 |
IFRS 9 | Loans and advances to customers | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,045,475 | 990,321 |
IFRS 9 | Loans and advances to customers | Financial assets at amortised cost, category | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (8,732) | (8,625) |
IFRS 9 | Loans and advances to banks | Financial assets at amortised cost, category | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 69,203 | 72,167 |
IFRS 9 | Loans and advances to banks | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 69,219 | 72,180 |
IFRS 9 | Loans and advances to banks | Financial assets at amortised cost, category | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (16) | (13) |
IFRS 9 | Cash and balances at central banks | Financial assets at amortised cost, category | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 154,099 | 162,843 |
IFRS 9 | Cash and balances at central banks | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 154,101 | 162,845 |
IFRS 9 | Cash and balances at central banks | Financial assets at amortised cost, category | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (2) | (2) |
IFRS 9 | Items in the course of collection from other banks | Financial assets at amortised cost, category | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 4,956 | 5,787 |
IFRS 9 | Items in the course of collection from other banks | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 4,956 | 5,787 |
IFRS 9 | Items in the course of collection from other banks | Financial assets at amortised cost, category | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Hong Kong Government certificates of indebtedness | Financial assets at amortised cost, category | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 38,380 | 35,859 |
IFRS 9 | Hong Kong Government certificates of indebtedness | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 38,380 | 35,859 |
IFRS 9 | Hong Kong Government certificates of indebtedness | Financial assets at amortised cost, category | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Reverse repurchase agreements – non-trading | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 53,093 | 65,381 |
IFRS 9 | Reverse repurchase agreements – non-trading | Financial assets at amortised cost, category | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 240,862 | 242,804 |
IFRS 9 | Reverse repurchase agreements – non-trading | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 240,862 | 242,804 |
IFRS 9 | Reverse repurchase agreements – non-trading | Financial assets at amortised cost, category | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Financial investments | Financial assets at amortised cost, category | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 85,735 | 62,666 |
IFRS 9 | Financial investments | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 85,788 | 62,684 |
IFRS 9 | Financial investments | Financial assets at amortised cost, category | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (53) | (18) |
IFRS 9 | Other assets | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 91,029 | 72,903 |
IFRS 9 | Other assets | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 91,092 | 72,938 |
IFRS 9 | Other assets | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (63) | (35) |
IFRS 9 | – endorsements and acceptances | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 10,198 | 9,623 |
IFRS 9 | – endorsements and acceptances | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 10,214 | 9,634 |
IFRS 9 | – endorsements and acceptances | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (16) | (11) |
IFRS 9 | – accrued income and other | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 80,831 | 63,280 |
IFRS 9 | – accrued income and other | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 80,878 | 63,304 |
IFRS 9 | – accrued income and other | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (47) | (24) |
IFRS 9 | Debt securities | Financial assets measured at fair value through other comprehensive income, category | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 351,725 | 341,782 |
IFRS 9 | Debt securities | Financial assets measured at fair value through other comprehensive income, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 351,891 | 341,866 |
IFRS 9 | Debt securities | Financial assets measured at fair value through other comprehensive income, category | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (166) | (84) |
IFRS 9 | Other financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Financial assets at amortised cost, category | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 615,061 | 582,862 |
IFRS 9 | Other financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 615,179 | 582,917 |
IFRS 9 | Other financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Financial assets at amortised cost, category | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (118) | (55) |
IFRS 9 | – personal | Loans and other credit-related commitments | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 223,314 | 207,351 |
IFRS 9 | – personal | Loans and other credit-related commitments | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | (15) | (13) |
IFRS 9 | – personal | Loans and advances to customers | Financial assets at amortised cost, category | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 431,137 | 391,390 |
IFRS 9 | – personal | Loans and advances to customers | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 434,271 | 394,337 |
IFRS 9 | – personal | Loans and advances to customers | Financial assets at amortised cost, category | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (3,134) | (2,947) |
IFRS 9 | – corporate and commercial | Loans and other credit-related commitments | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 278,524 | 271,022 |
IFRS 9 | – corporate and commercial | Loans and other credit-related commitments | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | (307) | (305) |
IFRS 9 | – corporate and commercial | Loans and advances to customers | Financial assets at amortised cost, category | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 535,061 | 529,025 |
IFRS 9 | – corporate and commercial | Loans and advances to customers | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 540,499 | 534,577 |
IFRS 9 | – corporate and commercial | Loans and advances to customers | Financial assets at amortised cost, category | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (5,438) | (5,552) |
IFRS 9 | – non-bank financial institutions | Loans and other credit-related commitments | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 98,191 | 113,635 |
IFRS 9 | – non-bank financial institutions | Loans and other credit-related commitments | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | (7) | (7) |
IFRS 9 | – non-bank financial institutions | Loans and advances to customers | Financial assets at amortised cost, category | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 70,545 | 61,281 |
IFRS 9 | – non-bank financial institutions | Loans and advances to customers | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 70,705 | 61,407 |
IFRS 9 | – non-bank financial institutions | Loans and advances to customers | Financial assets at amortised cost, category | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (160) | (126) |
IFRS 9 | Strong | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 376,865 | 383,018 |
IFRS 9 | Strong | Financial assets measured at fair value through other comprehensive income, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 333,158 | 319,632 |
IFRS 9 | Strong | Loans and other credit-related commitments | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 369,424 | 373,302 |
IFRS 9 | Strong | Financial guarantee and similar contracts | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 7,441 | 9,716 |
IFRS 9 | Strong | Loans and advances to customers | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 524,889 | 485,451 |
IFRS 9 | Strong | Loans and advances to banks | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 60,636 | 60,249 |
IFRS 9 | Strong | Cash and balances at central banks | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 151,788 | 160,995 |
IFRS 9 | Strong | Items in the course of collection from other banks | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 4,935 | 5,765 |
IFRS 9 | Strong | Hong Kong Government certificates of indebtedness | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 38,380 | 35,859 |
IFRS 9 | Strong | Reverse repurchase agreements – non-trading | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 193,157 | 200,774 |
IFRS 9 | Strong | Financial investments | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 78,318 | 56,031 |
IFRS 9 | Strong | Other assets | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 70,675 | 55,424 |
IFRS 9 | Strong | – endorsements and acceptances | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,133 | 1,514 |
IFRS 9 | Strong | – accrued income and other | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 69,542 | 53,910 |
IFRS 9 | Strong | Debt securities | Financial assets measured at fair value through other comprehensive income, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 333,158 | 319,632 |
IFRS 9 | Strong | Other financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 537,253 | 514,848 |
IFRS 9 | Strong | – personal | Loans and advances to customers | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 354,461 | 316,616 |
IFRS 9 | Strong | – corporate and commercial | Loans and advances to customers | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 138,126 | 140,387 |
IFRS 9 | Strong | – non-bank financial institutions | Loans and advances to customers | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 32,302 | 28,448 |
IFRS 9 | Good | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 153,021 | 144,476 |
IFRS 9 | Good | Financial assets measured at fair value through other comprehensive income, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 10,966 | 12,454 |
IFRS 9 | Good | Loans and other credit-related commitments | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 146,988 | 137,076 |
IFRS 9 | Good | Financial guarantee and similar contracts | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 6,033 | 7,400 |
IFRS 9 | Good | Loans and advances to customers | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 258,402 | 244,199 |
IFRS 9 | Good | Loans and advances to banks | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 5,329 | 7,371 |
IFRS 9 | Good | Cash and balances at central banks | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,398 | 1,508 |
IFRS 9 | Good | Items in the course of collection from other banks | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 18 | 21 |
IFRS 9 | Good | Hong Kong Government certificates of indebtedness | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Good | Reverse repurchase agreements – non-trading | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 37,947 | 29,423 |
IFRS 9 | Good | Financial investments | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 6,503 | 5,703 |
IFRS 9 | Good | Other assets | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 8,638 | 8,069 |
IFRS 9 | Good | – endorsements and acceptances | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 4,651 | 4,358 |
IFRS 9 | Good | – accrued income and other | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 3,987 | 3,711 |
IFRS 9 | Good | Debt securities | Financial assets measured at fair value through other comprehensive income, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 10,966 | 12,454 |
IFRS 9 | Good | Other financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 54,505 | 44,724 |
IFRS 9 | Good | – personal | Loans and advances to customers | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 45,037 | 43,764 |
IFRS 9 | Good | – corporate and commercial | Loans and advances to customers | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 190,470 | 181,984 |
IFRS 9 | Good | – non-bank financial institutions | Loans and advances to customers | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 22,895 | 18,451 |
IFRS 9 | Satisfactory | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 83,038 | 80,983 |
IFRS 9 | Satisfactory | Financial assets measured at fair value through other comprehensive income, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 7,222 | 7,210 |
IFRS 9 | Satisfactory | Loans and other credit-related commitments | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 77,499 | 75,478 |
IFRS 9 | Satisfactory | Financial guarantee and similar contracts | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 5,539 | 5,505 |
IFRS 9 | Satisfactory | Loans and advances to customers | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 228,485 | 230,357 |
IFRS 9 | Satisfactory | Loans and advances to banks | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,859 | 4,549 |
IFRS 9 | Satisfactory | Cash and balances at central banks | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 915 | 324 |
IFRS 9 | Satisfactory | Items in the course of collection from other banks | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 3 | 1 |
IFRS 9 | Satisfactory | Hong Kong Government certificates of indebtedness | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Satisfactory | Reverse repurchase agreements – non-trading | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 9,621 | 12,607 |
IFRS 9 | Satisfactory | Financial investments | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 906 | 949 |
IFRS 9 | Satisfactory | Other assets | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 11,321 | 9,138 |
IFRS 9 | Satisfactory | – endorsements and acceptances | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 4,196 | 3,604 |
IFRS 9 | Satisfactory | – accrued income and other | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 7,125 | 5,534 |
IFRS 9 | Satisfactory | Debt securities | Financial assets measured at fair value through other comprehensive income, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 7,222 | 7,210 |
IFRS 9 | Satisfactory | Other financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 22,766 | 23,019 |
IFRS 9 | Satisfactory | – personal | Loans and advances to customers | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 27,636 | 27,194 |
IFRS 9 | Satisfactory | – corporate and commercial | Loans and advances to customers | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 186,383 | 189,357 |
IFRS 9 | Satisfactory | – non-bank financial institutions | Loans and advances to customers | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 14,466 | 13,806 |
IFRS 9 | Sub-standard | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 6,349 | 5,830 |
IFRS 9 | Sub-standard | Financial assets measured at fair value through other comprehensive income, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 544 | 2,558 |
IFRS 9 | Sub-standard | Loans and other credit-related commitments | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 5,338 | 5,233 |
IFRS 9 | Sub-standard | Financial guarantee and similar contracts | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 1,011 | 597 |
IFRS 9 | Sub-standard | Loans and advances to customers | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 20,007 | 16,993 |
IFRS 9 | Sub-standard | Loans and advances to banks | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,395 | 11 |
IFRS 9 | Sub-standard | Cash and balances at central banks | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 18 |
IFRS 9 | Sub-standard | Items in the course of collection from other banks | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Sub-standard | Hong Kong Government certificates of indebtedness | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Sub-standard | Reverse repurchase agreements – non-trading | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 137 | 0 |
IFRS 9 | Sub-standard | Financial investments | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 61 | 1 |
IFRS 9 | Sub-standard | Other assets | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 306 | 181 |
IFRS 9 | Sub-standard | – endorsements and acceptances | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 230 | 155 |
IFRS 9 | Sub-standard | – accrued income and other | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 76 | 26 |
IFRS 9 | Sub-standard | Debt securities | Financial assets measured at fair value through other comprehensive income, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 544 | 2,558 |
IFRS 9 | Sub-standard | Other financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 503 | 200 |
IFRS 9 | Sub-standard | – personal | Loans and advances to customers | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 2,286 | 2,182 |
IFRS 9 | Sub-standard | – corporate and commercial | Loans and advances to customers | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 16,891 | 14,339 |
IFRS 9 | Sub-standard | – non-bank financial institutions | Loans and advances to customers | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 830 | 472 |
IFRS 9 | Credit impaired | Financial assets measured at fair value through other comprehensive income, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1 | 12 |
IFRS 9 | Credit impaired | Loans and other credit-related commitments | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 780 | 919 |
IFRS 9 | Credit impaired | Loans and advances to customers | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 13,692 | 13,321 |
IFRS 9 | Credit impaired | Loans and advances to banks | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Credit impaired | Other financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 152 | 126 |
IFRS 9 | Credit impaired | Credit impaired | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 970 | 1,219 |
IFRS 9 | Credit impaired | Credit impaired | Loans and other credit-related commitments | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 780 | 919 |
IFRS 9 | Credit impaired | Credit impaired | Financial guarantee and similar contracts | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 190 | 300 |
IFRS 9 | Credit impaired | Credit impaired | Loans and advances to customers | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 13,692 | 13,321 |
IFRS 9 | Credit impaired | Credit impaired | Loans and advances to banks | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Credit impaired | Credit impaired | Cash and balances at central banks | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Credit impaired | Credit impaired | Items in the course of collection from other banks | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Credit impaired | Credit impaired | Hong Kong Government certificates of indebtedness | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Credit impaired | Credit impaired | Reverse repurchase agreements – non-trading | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Credit impaired | Credit impaired | Financial investments | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Credit impaired | Credit impaired | Other assets | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 152 | 126 |
IFRS 9 | Credit impaired | Credit impaired | – endorsements and acceptances | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 4 | 3 |
IFRS 9 | Credit impaired | Credit impaired | – accrued income and other | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 148 | 123 |
IFRS 9 | Credit impaired | Credit impaired | Debt securities | Financial assets measured at fair value through other comprehensive income, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1 | 12 |
IFRS 9 | Credit impaired | Credit impaired | – personal | Loans and advances to customers | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 4,851 | 4,581 |
IFRS 9 | Credit impaired | Credit impaired | – corporate and commercial | Loans and advances to customers | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 8,629 | 8,510 |
IFRS 9 | Credit impaired | Credit impaired | – non-bank financial institutions | Loans and advances to customers | Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ 212 | $ 230 |
Report Of The Directors Fina_11
Report Of The Directors Financial Review Risk Report - Distribution of financial instruments to which the impairment requirements in IFRS 9 are applied, by credit quality and stage allocation (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ 2,621,427 | $ 2,471,203 |
Off-balance sheet commitments | 273,380 | 259,643 |
Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 273,512 | 259,742 |
Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | (132) | (99) |
Loans and other credit-related commitments | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 197,579 | 188,258 |
Loans and other credit-related commitments | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 197,579 | 188,258 |
Loans and other credit-related commitments | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
Loans and advances to customers | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,036,743 | 981,696 |
Loans and advances to banks | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 69,203 | 72,167 |
Debt securities | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 85,735 | 62,666 |
Financial assets at amortised cost, category | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 85,735 | 62,666 |
Financial assets at amortised cost, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 2,350,116 | 2,260,944 |
Financial assets at amortised cost, category | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (9,243) | (9,111) |
Financial assets at amortised cost, category | Loans and advances to customers | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,045,475 | 990,321 |
Financial assets at amortised cost, category | Loans and advances to customers | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (8,732) | (8,625) |
Financial assets at amortised cost, category | Loans and advances to banks | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 69,219 | 72,180 |
Financial assets at amortised cost, category | Loans and advances to banks | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (16) | (13) |
Financial assets at amortised cost, category | Other financial assets | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 615,179 | 582,917 |
Financial assets at amortised cost, category | Other financial assets | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (118) | (55) |
Financial assets at amortised cost, category | Debt securities | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 75,259 | 61,987 |
Financial assets at amortised cost, category | 12-month expected credit losses | Financial instruments not credit-impaired | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 2,227,867 | 2,149,450 |
Financial assets at amortised cost, category | 12-month expected credit losses | Financial instruments not credit-impaired | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (1,502) | (1,476) |
Financial assets at amortised cost, category | 12-month expected credit losses | Financial instruments not credit-impaired | Loans and advances to customers | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 951,583 | 908,393 |
Financial assets at amortised cost, category | 12-month expected credit losses | Financial instruments not credit-impaired | Loans and advances to customers | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (1,297) | (1,276) |
Financial assets at amortised cost, category | 12-month expected credit losses | Financial instruments not credit-impaired | Loans and advances to banks | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 67,769 | 71,873 |
Financial assets at amortised cost, category | 12-month expected credit losses | Financial instruments not credit-impaired | Loans and advances to banks | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (14) | (11) |
Financial assets at amortised cost, category | 12-month expected credit losses | Financial instruments not credit-impaired | Other financial assets | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 613,200 | 581,118 |
Financial assets at amortised cost, category | 12-month expected credit losses | Financial instruments not credit-impaired | Other financial assets | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (38) | (27) |
Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments not credit-impaired | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 107,417 | 96,802 |
Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments not credit-impaired | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (2,479) | (2,284) |
Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments not credit-impaired | Loans and advances to customers | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 80,182 | 68,581 |
Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments not credit-impaired | Loans and advances to customers | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (2,284) | (2,108) |
Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments not credit-impaired | Loans and advances to banks | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,450 | 307 |
Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments not credit-impaired | Loans and advances to banks | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (2) | (2) |
Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments not credit-impaired | Other financial assets | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,827 | 1,673 |
Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments not credit-impaired | Other financial assets | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (38) | (6) |
Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 14,486 | 14,358 |
Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (5,163) | (5,157) |
Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Loans and advances to customers | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 13,378 | 13,023 |
Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Loans and advances to customers | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (5,052) | (5,047) |
Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Loans and advances to banks | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Loans and advances to banks | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Other financial assets | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 151 | 126 |
Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Other financial assets | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (42) | (22) |
Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 346 | 334 |
Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (99) | (194) |
Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Loans and advances to customers | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 332 | 324 |
Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Loans and advances to customers | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (99) | (194) |
Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Loans and advances to banks | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Loans and advances to banks | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Other financial assets | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1 | 0 |
Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Other financial assets | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Financial assets measured at fair value through other comprehensive income, category | Debt securities | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 355,664 | 343,110 |
Financial assets measured at fair value through other comprehensive income, category | Debt securities | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (166) | (84) |
Strong | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 96,247 | 214,937 |
Strong | Loans and other credit-related commitments | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 66,148 | 188,258 |
Good | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 93,225 | 25,743 |
Good | Loans and other credit-related commitments | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 69,890 | 0 |
Satisfactory | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 78,816 | 16,790 |
Satisfactory | Loans and other credit-related commitments | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 58,754 | 0 |
Sub-standard | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 4,662 | 1,869 |
Sub-standard | Loans and other credit-related commitments | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 2,605 | 0 |
IFRS 9 | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 619,866 | 615,108 |
Financial assets and off-balance sheet loan commitments | 2,340,873 | 2,251,833 |
IFRS 9 | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,729,873 | 1,645,418 |
Off-balance sheet commitments | 620,243 | 615,526 |
Financial assets and off-balance sheet loan commitments | 2,350,116 | 2,260,944 |
IFRS 9 | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (8,866) | (8,693) |
Off-balance sheet commitments | (377) | (418) |
Financial assets and off-balance sheet loan commitments | (9,243) | (9,111) |
IFRS 9 | Loans and other credit-related commitments | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 599,700 | 591,683 |
IFRS 9 | Loans and other credit-related commitments | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 600,029 | 592,008 |
IFRS 9 | Loans and other credit-related commitments | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | (329) | (325) |
IFRS 9 | Financial guarantees | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 20,166 | 23,425 |
IFRS 9 | Financial guarantees | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 20,214 | 23,518 |
IFRS 9 | Financial guarantees | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | (48) | (93) |
IFRS 9 | 12-month expected credit losses | Financial instruments not credit-impaired | Loans and other credit-related commitments | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 577,494 | 567,089 |
IFRS 9 | 12-month expected credit losses | Financial instruments not credit-impaired | Loans and other credit-related commitments | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 577,631 | 567,232 |
IFRS 9 | 12-month expected credit losses | Financial instruments not credit-impaired | Loans and other credit-related commitments | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | (137) | (143) |
IFRS 9 | 12-month expected credit losses | Financial instruments not credit-impaired | Financial guarantees | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 17,668 | 20,815 |
IFRS 9 | 12-month expected credit losses | Financial instruments not credit-impaired | Financial guarantees | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 17,684 | 20,834 |
IFRS 9 | 12-month expected credit losses | Financial instruments not credit-impaired | Financial guarantees | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | (16) | (19) |
IFRS 9 | Lifetime expected credit losses | Financial instruments not credit-impaired | Loans and other credit-related commitments | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 21,485 | 23,718 |
IFRS 9 | Lifetime expected credit losses | Financial instruments not credit-impaired | Loans and other credit-related commitments | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 21,618 | 23,857 |
IFRS 9 | Lifetime expected credit losses | Financial instruments not credit-impaired | Loans and other credit-related commitments | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | (133) | (139) |
IFRS 9 | Lifetime expected credit losses | Financial instruments not credit-impaired | Financial guarantees | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 2,318 | 2,355 |
IFRS 9 | Lifetime expected credit losses | Financial instruments not credit-impaired | Financial guarantees | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 2,340 | 2,384 |
IFRS 9 | Lifetime expected credit losses | Financial instruments not credit-impaired | Financial guarantees | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | (22) | (29) |
IFRS 9 | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Loans and other credit-related commitments | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 712 | 869 |
IFRS 9 | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Loans and other credit-related commitments | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 771 | 912 |
IFRS 9 | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Loans and other credit-related commitments | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | (59) | (43) |
IFRS 9 | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Financial guarantees | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 176 | 252 |
IFRS 9 | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Financial guarantees | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 186 | 297 |
IFRS 9 | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Financial guarantees | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | (10) | (45) |
IFRS 9 | Lifetime expected credit losses | POCI | Loans and other credit-related commitments | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 9 | 7 |
IFRS 9 | Lifetime expected credit losses | POCI | Loans and other credit-related commitments | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 9 | 7 |
IFRS 9 | Lifetime expected credit losses | POCI | Loans and other credit-related commitments | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
IFRS 9 | Lifetime expected credit losses | POCI | Financial guarantees | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 4 | 3 |
IFRS 9 | Lifetime expected credit losses | POCI | Financial guarantees | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 4 | 3 |
IFRS 9 | Lifetime expected credit losses | POCI | Financial guarantees | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
IFRS 9 | Financial assets at amortised cost, category | Loans and advances to customers | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,036,743 | 981,696 |
IFRS 9 | Financial assets at amortised cost, category | Loans and advances to customers | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,045,475 | 990,321 |
IFRS 9 | Financial assets at amortised cost, category | Loans and advances to customers | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (8,732) | (8,625) |
IFRS 9 | Financial assets at amortised cost, category | Loans and advances to banks | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 69,203 | 72,167 |
IFRS 9 | Financial assets at amortised cost, category | Loans and advances to banks | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 69,219 | 72,180 |
IFRS 9 | Financial assets at amortised cost, category | Loans and advances to banks | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (16) | (13) |
IFRS 9 | Financial assets at amortised cost, category | Other financial assets | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 615,061 | 582,862 |
IFRS 9 | Financial assets at amortised cost, category | Other financial assets | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 615,179 | 582,917 |
IFRS 9 | Financial assets at amortised cost, category | Other financial assets | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (118) | (55) |
IFRS 9 | Financial assets at amortised cost, category | 12-month expected credit losses | Financial instruments not credit-impaired | Loans and advances to customers | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 950,286 | 907,117 |
IFRS 9 | Financial assets at amortised cost, category | 12-month expected credit losses | Financial instruments not credit-impaired | Loans and advances to customers | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 951,583 | 908,393 |
IFRS 9 | Financial assets at amortised cost, category | 12-month expected credit losses | Financial instruments not credit-impaired | Loans and advances to customers | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (1,297) | (1,276) |
IFRS 9 | Financial assets at amortised cost, category | 12-month expected credit losses | Financial instruments not credit-impaired | Loans and advances to banks | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 67,755 | 71,862 |
IFRS 9 | Financial assets at amortised cost, category | 12-month expected credit losses | Financial instruments not credit-impaired | Loans and advances to banks | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 67,769 | 71,873 |
IFRS 9 | Financial assets at amortised cost, category | 12-month expected credit losses | Financial instruments not credit-impaired | Loans and advances to banks | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (14) | (11) |
IFRS 9 | Financial assets at amortised cost, category | 12-month expected credit losses | Financial instruments not credit-impaired | Other financial assets | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 613,162 | 581,091 |
IFRS 9 | Financial assets at amortised cost, category | 12-month expected credit losses | Financial instruments not credit-impaired | Other financial assets | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 613,200 | 581,118 |
IFRS 9 | Financial assets at amortised cost, category | 12-month expected credit losses | Financial instruments not credit-impaired | Other financial assets | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (38) | (27) |
IFRS 9 | Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments not credit-impaired | Loans and advances to customers | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 77,898 | 66,473 |
IFRS 9 | Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments not credit-impaired | Loans and advances to customers | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 80,182 | 68,581 |
IFRS 9 | Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments not credit-impaired | Loans and advances to customers | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (2,284) | (2,108) |
IFRS 9 | Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments not credit-impaired | Loans and advances to banks | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,448 | 305 |
IFRS 9 | Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments not credit-impaired | Loans and advances to banks | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,450 | 307 |
IFRS 9 | Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments not credit-impaired | Loans and advances to banks | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (2) | (2) |
IFRS 9 | Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments not credit-impaired | Other financial assets | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,789 | 1,667 |
IFRS 9 | Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments not credit-impaired | Other financial assets | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,827 | 1,673 |
IFRS 9 | Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments not credit-impaired | Other financial assets | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (38) | (6) |
IFRS 9 | Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Loans and advances to customers | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 8,326 | 7,976 |
IFRS 9 | Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Loans and advances to customers | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 13,378 | 13,023 |
IFRS 9 | Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Loans and advances to customers | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (5,052) | (5,047) |
IFRS 9 | Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Loans and advances to banks | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Loans and advances to banks | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Loans and advances to banks | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Other financial assets | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 109 | 104 |
IFRS 9 | Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Other financial assets | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 151 | 126 |
IFRS 9 | Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Other financial assets | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (42) | (22) |
IFRS 9 | Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Loans and advances to customers | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 233 | 130 |
IFRS 9 | Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Loans and advances to customers | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 332 | 324 |
IFRS 9 | Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Loans and advances to customers | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (99) | (194) |
IFRS 9 | Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Loans and advances to banks | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Loans and advances to banks | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Loans and advances to banks | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Other financial assets | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1 | 0 |
IFRS 9 | Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Other financial assets | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1 | 0 |
IFRS 9 | Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Other financial assets | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Financial assets measured at fair value through other comprehensive income, category | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 351,725 | 341,782 |
IFRS 9 | Financial assets measured at fair value through other comprehensive income, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 351,891 | 341,866 |
IFRS 9 | Financial assets measured at fair value through other comprehensive income, category | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (166) | (84) |
IFRS 9 | Financial assets measured at fair value through other comprehensive income, category | Debt securities | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 351,725 | 341,782 |
IFRS 9 | Financial assets measured at fair value through other comprehensive income, category | Debt securities | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 351,891 | 341,866 |
IFRS 9 | Financial assets measured at fair value through other comprehensive income, category | Debt securities | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (166) | (84) |
IFRS 9 | Financial assets measured at fair value through other comprehensive income, category | 12-month expected credit losses | Financial instruments not credit-impaired | Debt securities | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 350,876 | 341,022 |
IFRS 9 | Financial assets measured at fair value through other comprehensive income, category | 12-month expected credit losses | Financial instruments not credit-impaired | Debt securities | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 350,915 | 341,055 |
IFRS 9 | Financial assets measured at fair value through other comprehensive income, category | 12-month expected credit losses | Financial instruments not credit-impaired | Debt securities | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (39) | (33) |
IFRS 9 | Financial assets measured at fair value through other comprehensive income, category | Lifetime expected credit losses | Financial instruments not credit-impaired | Debt securities | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 848 | 749 |
IFRS 9 | Financial assets measured at fair value through other comprehensive income, category | Lifetime expected credit losses | Financial instruments not credit-impaired | Debt securities | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 975 | 799 |
IFRS 9 | Financial assets measured at fair value through other comprehensive income, category | Lifetime expected credit losses | Financial instruments not credit-impaired | Debt securities | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (127) | (50) |
IFRS 9 | Financial assets measured at fair value through other comprehensive income, category | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Debt securities | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 7 |
IFRS 9 | Financial assets measured at fair value through other comprehensive income, category | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Debt securities | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 8 |
IFRS 9 | Financial assets measured at fair value through other comprehensive income, category | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Debt securities | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | (1) |
IFRS 9 | Financial assets measured at fair value through other comprehensive income, category | Lifetime expected credit losses | POCI | Debt securities | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1 | 4 |
IFRS 9 | Financial assets measured at fair value through other comprehensive income, category | Lifetime expected credit losses | POCI | Debt securities | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1 | 4 |
IFRS 9 | Financial assets measured at fair value through other comprehensive income, category | Lifetime expected credit losses | POCI | Debt securities | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Strong | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 376,865 | 383,018 |
Financial assets and off-balance sheet loan commitments | 1,499,643 | 1,443,566 |
IFRS 9 | Strong | Loans and other credit-related commitments | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 369,424 | 373,302 |
IFRS 9 | Strong | Financial guarantees | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 7,441 | 9,716 |
IFRS 9 | Strong | 12-month expected credit losses | Financial instruments not credit-impaired | Loans and other credit-related commitments | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 368,711 | 372,529 |
IFRS 9 | Strong | 12-month expected credit losses | Financial instruments not credit-impaired | Financial guarantees | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 7,400 | 9,582 |
IFRS 9 | Strong | Lifetime expected credit losses | Financial instruments not credit-impaired | Loans and other credit-related commitments | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 713 | 773 |
IFRS 9 | Strong | Lifetime expected credit losses | Financial instruments not credit-impaired | Financial guarantees | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 41 | 134 |
IFRS 9 | Strong | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Loans and other credit-related commitments | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
IFRS 9 | Strong | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Financial guarantees | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
IFRS 9 | Strong | Lifetime expected credit losses | POCI | Loans and other credit-related commitments | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
IFRS 9 | Strong | Lifetime expected credit losses | POCI | Financial guarantees | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
IFRS 9 | Strong | Financial assets at amortised cost, category | Loans and advances to customers | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 524,889 | 485,451 |
IFRS 9 | Strong | Financial assets at amortised cost, category | Loans and advances to banks | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 60,636 | 60,249 |
IFRS 9 | Strong | Financial assets at amortised cost, category | Other financial assets | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 537,253 | 514,848 |
IFRS 9 | Strong | Financial assets at amortised cost, category | 12-month expected credit losses | Financial instruments not credit-impaired | Loans and advances to customers | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 523,092 | 483,170 |
IFRS 9 | Strong | Financial assets at amortised cost, category | 12-month expected credit losses | Financial instruments not credit-impaired | Loans and advances to banks | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 60,548 | 60,199 |
IFRS 9 | Strong | Financial assets at amortised cost, category | 12-month expected credit losses | Financial instruments not credit-impaired | Other financial assets | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 536,942 | 514,525 |
IFRS 9 | Strong | Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments not credit-impaired | Loans and advances to customers | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,797 | 2,281 |
IFRS 9 | Strong | Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments not credit-impaired | Loans and advances to banks | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 88 | 50 |
IFRS 9 | Strong | Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments not credit-impaired | Other financial assets | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 311 | 323 |
IFRS 9 | Strong | Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Loans and advances to customers | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Strong | Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Loans and advances to banks | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Strong | Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Other financial assets | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Strong | Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Loans and advances to customers | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Strong | Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Loans and advances to banks | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Strong | Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Other financial assets | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Strong | Financial assets measured at fair value through other comprehensive income, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 333,158 | 319,632 |
IFRS 9 | Strong | Financial assets measured at fair value through other comprehensive income, category | Debt securities | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 333,158 | 319,632 |
IFRS 9 | Strong | Financial assets measured at fair value through other comprehensive income, category | 12-month expected credit losses | Financial instruments not credit-impaired | Debt securities | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 333,072 | 319,623 |
IFRS 9 | Strong | Financial assets measured at fair value through other comprehensive income, category | Lifetime expected credit losses | Financial instruments not credit-impaired | Debt securities | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 86 | 9 |
IFRS 9 | Strong | Financial assets measured at fair value through other comprehensive income, category | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Debt securities | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Strong | Financial assets measured at fair value through other comprehensive income, category | Lifetime expected credit losses | POCI | Debt securities | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Good | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 153,021 | 144,476 |
Financial assets and off-balance sheet loan commitments | 471,257 | 440,770 |
IFRS 9 | Good | Loans and other credit-related commitments | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 146,988 | 137,076 |
IFRS 9 | Good | Financial guarantees | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 6,033 | 7,400 |
IFRS 9 | Good | 12-month expected credit losses | Financial instruments not credit-impaired | Loans and other credit-related commitments | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 141,322 | 131,278 |
IFRS 9 | Good | 12-month expected credit losses | Financial instruments not credit-impaired | Financial guarantees | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 5,746 | 6,863 |
IFRS 9 | Good | Lifetime expected credit losses | Financial instruments not credit-impaired | Loans and other credit-related commitments | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 5,666 | 5,798 |
IFRS 9 | Good | Lifetime expected credit losses | Financial instruments not credit-impaired | Financial guarantees | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 287 | 537 |
IFRS 9 | Good | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Loans and other credit-related commitments | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
IFRS 9 | Good | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Financial guarantees | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
IFRS 9 | Good | Lifetime expected credit losses | POCI | Loans and other credit-related commitments | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
IFRS 9 | Good | Lifetime expected credit losses | POCI | Financial guarantees | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
IFRS 9 | Good | Financial assets at amortised cost, category | Loans and advances to customers | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 258,402 | 244,199 |
IFRS 9 | Good | Financial assets at amortised cost, category | Loans and advances to banks | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 5,329 | 7,371 |
IFRS 9 | Good | Financial assets at amortised cost, category | Other financial assets | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 54,505 | 44,724 |
IFRS 9 | Good | Financial assets at amortised cost, category | 12-month expected credit losses | Financial instruments not credit-impaired | Loans and advances to customers | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 242,631 | 232,004 |
IFRS 9 | Good | Financial assets at amortised cost, category | 12-month expected credit losses | Financial instruments not credit-impaired | Loans and advances to banks | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 5,312 | 7,250 |
IFRS 9 | Good | Financial assets at amortised cost, category | 12-month expected credit losses | Financial instruments not credit-impaired | Other financial assets | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 54,058 | 44,339 |
IFRS 9 | Good | Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments not credit-impaired | Loans and advances to customers | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 15,771 | 12,195 |
IFRS 9 | Good | Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments not credit-impaired | Loans and advances to banks | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 17 | 121 |
IFRS 9 | Good | Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments not credit-impaired | Other financial assets | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 447 | 385 |
IFRS 9 | Good | Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Loans and advances to customers | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Good | Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Loans and advances to banks | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Good | Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Other financial assets | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Good | Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Loans and advances to customers | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Good | Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Loans and advances to banks | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Good | Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Other financial assets | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Good | Financial assets measured at fair value through other comprehensive income, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 10,966 | 12,454 |
IFRS 9 | Good | Financial assets measured at fair value through other comprehensive income, category | Debt securities | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 10,966 | 12,454 |
IFRS 9 | Good | Financial assets measured at fair value through other comprehensive income, category | 12-month expected credit losses | Financial instruments not credit-impaired | Debt securities | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 10,941 | 12,358 |
IFRS 9 | Good | Financial assets measured at fair value through other comprehensive income, category | Lifetime expected credit losses | Financial instruments not credit-impaired | Debt securities | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 25 | 96 |
IFRS 9 | Good | Financial assets measured at fair value through other comprehensive income, category | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Debt securities | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Good | Financial assets measured at fair value through other comprehensive income, category | Lifetime expected credit losses | POCI | Debt securities | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Satisfactory | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 83,038 | 80,983 |
Financial assets and off-balance sheet loan commitments | 336,148 | 338,908 |
IFRS 9 | Satisfactory | Loans and other credit-related commitments | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 77,499 | 75,478 |
IFRS 9 | Satisfactory | Financial guarantees | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 5,539 | 5,505 |
IFRS 9 | Satisfactory | 12-month expected credit losses | Financial instruments not credit-impaired | Loans and other credit-related commitments | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 66,283 | 62,452 |
IFRS 9 | Satisfactory | 12-month expected credit losses | Financial instruments not credit-impaired | Financial guarantees | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 4,200 | 4,231 |
IFRS 9 | Satisfactory | Lifetime expected credit losses | Financial instruments not credit-impaired | Loans and other credit-related commitments | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 11,216 | 13,026 |
IFRS 9 | Satisfactory | Lifetime expected credit losses | Financial instruments not credit-impaired | Financial guarantees | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 1,339 | 1,274 |
IFRS 9 | Satisfactory | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Loans and other credit-related commitments | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
IFRS 9 | Satisfactory | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Financial guarantees | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
IFRS 9 | Satisfactory | Lifetime expected credit losses | POCI | Loans and other credit-related commitments | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
IFRS 9 | Satisfactory | Lifetime expected credit losses | POCI | Financial guarantees | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
IFRS 9 | Satisfactory | Financial assets at amortised cost, category | Loans and advances to customers | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 228,485 | 230,357 |
IFRS 9 | Satisfactory | Financial assets at amortised cost, category | Loans and advances to banks | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,859 | 4,549 |
IFRS 9 | Satisfactory | Financial assets at amortised cost, category | Other financial assets | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 22,766 | 23,019 |
IFRS 9 | Satisfactory | Financial assets at amortised cost, category | 12-month expected credit losses | Financial instruments not credit-impaired | Loans and advances to customers | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 181,056 | 187,773 |
IFRS 9 | Satisfactory | Financial assets at amortised cost, category | 12-month expected credit losses | Financial instruments not credit-impaired | Loans and advances to banks | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,797 | 4,413 |
IFRS 9 | Satisfactory | Financial assets at amortised cost, category | 12-month expected credit losses | Financial instruments not credit-impaired | Other financial assets | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 21,921 | 22,184 |
IFRS 9 | Satisfactory | Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments not credit-impaired | Loans and advances to customers | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 47,429 | 42,584 |
IFRS 9 | Satisfactory | Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments not credit-impaired | Loans and advances to banks | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 62 | 136 |
IFRS 9 | Satisfactory | Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments not credit-impaired | Other financial assets | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 845 | 835 |
IFRS 9 | Satisfactory | Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Loans and advances to customers | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Satisfactory | Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Loans and advances to banks | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Satisfactory | Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Other financial assets | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Satisfactory | Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Loans and advances to customers | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Satisfactory | Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Loans and advances to banks | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Satisfactory | Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Other financial assets | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Satisfactory | Financial assets measured at fair value through other comprehensive income, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 7,222 | 7,210 |
IFRS 9 | Satisfactory | Financial assets measured at fair value through other comprehensive income, category | Debt securities | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 7,222 | 7,210 |
IFRS 9 | Satisfactory | Financial assets measured at fair value through other comprehensive income, category | 12-month expected credit losses | Financial instruments not credit-impaired | Debt securities | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 6,902 | 6,856 |
IFRS 9 | Satisfactory | Financial assets measured at fair value through other comprehensive income, category | Lifetime expected credit losses | Financial instruments not credit-impaired | Debt securities | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 320 | 354 |
IFRS 9 | Satisfactory | Financial assets measured at fair value through other comprehensive income, category | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Debt securities | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Satisfactory | Financial assets measured at fair value through other comprehensive income, category | Lifetime expected credit losses | POCI | Debt securities | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Sub-standard | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 6,349 | 5,830 |
Financial assets and off-balance sheet loan commitments | 28,254 | 23,034 |
IFRS 9 | Sub-standard | Loans and other credit-related commitments | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 5,338 | 5,233 |
IFRS 9 | Sub-standard | Financial guarantees | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 1,011 | 597 |
IFRS 9 | Sub-standard | 12-month expected credit losses | Financial instruments not credit-impaired | Loans and other credit-related commitments | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 1,315 | 973 |
IFRS 9 | Sub-standard | 12-month expected credit losses | Financial instruments not credit-impaired | Financial guarantees | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 338 | 158 |
IFRS 9 | Sub-standard | Lifetime expected credit losses | Financial instruments not credit-impaired | Loans and other credit-related commitments | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 4,023 | 4,260 |
IFRS 9 | Sub-standard | Lifetime expected credit losses | Financial instruments not credit-impaired | Financial guarantees | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 673 | 439 |
IFRS 9 | Sub-standard | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Loans and other credit-related commitments | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
IFRS 9 | Sub-standard | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Financial guarantees | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
IFRS 9 | Sub-standard | Lifetime expected credit losses | POCI | Loans and other credit-related commitments | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
IFRS 9 | Sub-standard | Lifetime expected credit losses | POCI | Financial guarantees | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
IFRS 9 | Sub-standard | Financial assets at amortised cost, category | Loans and advances to customers | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 20,007 | 16,993 |
IFRS 9 | Sub-standard | Financial assets at amortised cost, category | Loans and advances to banks | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,395 | 11 |
IFRS 9 | Sub-standard | Financial assets at amortised cost, category | Other financial assets | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 503 | 200 |
IFRS 9 | Sub-standard | Financial assets at amortised cost, category | 12-month expected credit losses | Financial instruments not credit-impaired | Loans and advances to customers | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 4,804 | 5,446 |
IFRS 9 | Sub-standard | Financial assets at amortised cost, category | 12-month expected credit losses | Financial instruments not credit-impaired | Loans and advances to banks | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 112 | 11 |
IFRS 9 | Sub-standard | Financial assets at amortised cost, category | 12-month expected credit losses | Financial instruments not credit-impaired | Other financial assets | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 279 | 70 |
IFRS 9 | Sub-standard | Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments not credit-impaired | Loans and advances to customers | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 15,185 | 11,521 |
IFRS 9 | Sub-standard | Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments not credit-impaired | Loans and advances to banks | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,283 | 0 |
IFRS 9 | Sub-standard | Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments not credit-impaired | Other financial assets | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 224 | 130 |
IFRS 9 | Sub-standard | Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Loans and advances to customers | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Sub-standard | Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Loans and advances to banks | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Sub-standard | Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Other financial assets | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Sub-standard | Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Loans and advances to customers | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 18 | 26 |
IFRS 9 | Sub-standard | Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Loans and advances to banks | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Sub-standard | Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Other financial assets | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Sub-standard | Financial assets measured at fair value through other comprehensive income, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 544 | 2,558 |
IFRS 9 | Sub-standard | Financial assets measured at fair value through other comprehensive income, category | Debt securities | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 544 | 2,558 |
IFRS 9 | Sub-standard | Financial assets measured at fair value through other comprehensive income, category | 12-month expected credit losses | Financial instruments not credit-impaired | Debt securities | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 2,218 |
IFRS 9 | Sub-standard | Financial assets measured at fair value through other comprehensive income, category | Lifetime expected credit losses | Financial instruments not credit-impaired | Debt securities | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 544 | 340 |
IFRS 9 | Sub-standard | Financial assets measured at fair value through other comprehensive income, category | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Debt securities | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Sub-standard | Financial assets measured at fair value through other comprehensive income, category | Lifetime expected credit losses | POCI | Debt securities | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Credit impaired | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets and off-balance sheet loan commitments | 14,814 | 14,666 |
IFRS 9 | Credit impaired | Loans and other credit-related commitments | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 780 | 919 |
IFRS 9 | Credit impaired | Financial guarantees | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 190 | 300 |
IFRS 9 | Credit impaired | 12-month expected credit losses | Financial instruments not credit-impaired | Loans and other credit-related commitments | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
IFRS 9 | Credit impaired | 12-month expected credit losses | Financial instruments not credit-impaired | Financial guarantees | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
IFRS 9 | Credit impaired | Lifetime expected credit losses | Financial instruments not credit-impaired | Loans and other credit-related commitments | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
IFRS 9 | Credit impaired | Lifetime expected credit losses | Financial instruments not credit-impaired | Financial guarantees | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
IFRS 9 | Credit impaired | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Loans and other credit-related commitments | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 771 | 912 |
IFRS 9 | Credit impaired | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Financial guarantees | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 186 | 297 |
IFRS 9 | Credit impaired | Lifetime expected credit losses | POCI | Loans and other credit-related commitments | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 9 | 7 |
IFRS 9 | Credit impaired | Lifetime expected credit losses | POCI | Financial guarantees | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 4 | 3 |
IFRS 9 | Credit impaired | Financial assets at amortised cost, category | Loans and advances to customers | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 13,692 | 13,321 |
IFRS 9 | Credit impaired | Financial assets at amortised cost, category | Loans and advances to banks | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Credit impaired | Financial assets at amortised cost, category | Other financial assets | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 152 | 126 |
IFRS 9 | Credit impaired | Financial assets at amortised cost, category | 12-month expected credit losses | Financial instruments not credit-impaired | Loans and advances to customers | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Credit impaired | Financial assets at amortised cost, category | 12-month expected credit losses | Financial instruments not credit-impaired | Loans and advances to banks | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Credit impaired | Financial assets at amortised cost, category | 12-month expected credit losses | Financial instruments not credit-impaired | Other financial assets | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Credit impaired | Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments not credit-impaired | Loans and advances to customers | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Credit impaired | Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments not credit-impaired | Loans and advances to banks | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Credit impaired | Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments not credit-impaired | Other financial assets | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Credit impaired | Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Loans and advances to customers | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 13,378 | 13,023 |
IFRS 9 | Credit impaired | Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Loans and advances to banks | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Credit impaired | Financial assets at amortised cost, category | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Other financial assets | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 151 | 126 |
IFRS 9 | Credit impaired | Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Loans and advances to customers | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 314 | 298 |
IFRS 9 | Credit impaired | Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Loans and advances to banks | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Credit impaired | Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Other financial assets | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1 | 0 |
IFRS 9 | Credit impaired | Financial assets measured at fair value through other comprehensive income, category | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1 | 12 |
IFRS 9 | Credit impaired | Financial assets measured at fair value through other comprehensive income, category | 12-month expected credit losses | Financial instruments not credit-impaired | Debt securities | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Credit impaired | Financial assets measured at fair value through other comprehensive income, category | Lifetime expected credit losses | Financial instruments not credit-impaired | Debt securities | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Credit impaired | Financial assets measured at fair value through other comprehensive income, category | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Debt securities | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 8 |
IFRS 9 | Credit impaired | Financial assets measured at fair value through other comprehensive income, category | Lifetime expected credit losses | POCI | Debt securities | Gross carrying amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ 1 | $ 4 |
Report Of The Directors Fina_12
Report Of The Directors Financial Review Risk Report - Wholesale lending: reconciliation of changes in gross carrying/nominal amount and allowances for loans and advances to banks and customers including loan commitments and financial guarantees (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | $ 2,471,203 | |
Financial assets, ending balance | 2,621,427 | $ 2,471,203 |
Gross carrying amount | Loans and advances to banks and customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 1,612,646 | 1,565,014 |
Net new lending and further lending/payments | 107,217 | |
Assets written off | (2,797) | (2,569) |
Credit-related modifications that resulted in derecognition | (268) | |
Foreign exchange and other | 18,200 | (56,508) |
Financial assets, ending balance | 1,681,844 | 1,612,646 |
Accumulated impairment | Loans and advances to banks and customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (9,056) | (9,839) |
Net remeasurement of ECL arising from transfer of stage | (121) | (88) |
Net new lending and further lending/payments | 827 | |
Changes to risk parameters – credit quality | (3,961) | (2,953) |
Changes to models used for ECL calculation | 12 | 0 |
Assets written off | 2,797 | 2,553 |
Credit-related modifications that resulted in derecognition | 125 | |
Foreign exchange and other | (79) | 413 |
Financial assets, ending balance | (9,125) | (9,056) |
ECL income statement change for the period | (2,932) | (2,214) |
Recoveries | 361 | 408 |
Others | (20) | (62) |
Total ECL income statement change for the period | (2,591) | (1,868) |
12-month expected credit losses | Financial instruments not credit-impaired | Gross carrying amount | Loans and advances to banks and customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 1,502,976 | 1,446,857 |
Transfers of financial instruments | (36,244) | (8,747) |
Net new lending and further lending/payments | 126,868 | |
Foreign exchange and other | 16,838 | (52,911) |
Financial assets, ending balance | 1,561,613 | 1,502,976 |
12-month expected credit losses | Financial instruments not credit-impaired | Accumulated impairment | Loans and advances to banks and customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (1,449) | (1,469) |
Transfers of financial instruments | (543) | (685) |
Net remeasurement of ECL arising from transfer of stage | 669 | 620 |
Net new lending and further lending/payments | (512) | |
Changes to risk parameters – credit quality | 2 | 423 |
Changes to models used for ECL calculation | (6) | 0 |
Foreign exchange and other | (9) | 76 |
Financial assets, ending balance | (1,464) | (1,449) |
ECL income statement change for the period | 534 | 531 |
Lifetime expected credit losses | Financial instruments not credit-impaired | Gross carrying amount | Loans and advances to banks and customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 95,104 | 102,032 |
Transfers of financial instruments | 31,063 | 3,582 |
Net new lending and further lending/payments | (16,162) | |
Foreign exchange and other | 1,201 | (2,935) |
Financial assets, ending balance | 105,551 | 95,104 |
Lifetime expected credit losses | Financial instruments not credit-impaired | Accumulated impairment | Loans and advances to banks and customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (2,278) | (2,406) |
Transfers of financial instruments | 1,134 | 1,185 |
Net remeasurement of ECL arising from transfer of stage | (676) | (605) |
Net new lending and further lending/payments | 564 | |
Changes to risk parameters – credit quality | (1,208) | (1,087) |
Changes to models used for ECL calculation | 4 | 0 |
Foreign exchange and other | (40) | 99 |
Financial assets, ending balance | (2,441) | (2,278) |
ECL income statement change for the period | (1,260) | (1,128) |
Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Gross carrying amount | Loans and advances to banks and customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 14,232 | 15,083 |
Transfers of financial instruments | 5,181 | 5,165 |
Net new lending and further lending/payments | (2,902) | |
Assets written off | (2,657) | (2,568) |
Credit-related modifications that resulted in derecognition | (268) | |
Foreign exchange and other | 160 | (636) |
Financial assets, ending balance | 14,335 | 14,232 |
Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Accumulated impairment | Loans and advances to banks and customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (5,135) | (5,722) |
Transfers of financial instruments | (591) | (500) |
Net remeasurement of ECL arising from transfer of stage | (114) | (103) |
Net new lending and further lending/payments | 733 | |
Changes to risk parameters – credit quality | (2,704) | (2,238) |
Changes to models used for ECL calculation | 14 | 0 |
Assets written off | 2,657 | 2,552 |
Credit-related modifications that resulted in derecognition | 125 | |
Foreign exchange and other | (31) | 232 |
Financial assets, ending balance | (5,121) | (5,135) |
ECL income statement change for the period | (2,154) | (1,608) |
Lifetime expected credit losses | POCI | Gross carrying amount | Loans and advances to banks and customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 334 | 1,042 |
Net new lending and further lending/payments | (587) | |
Assets written off | (140) | (1) |
Foreign exchange and other | 1 | (26) |
Financial assets, ending balance | 345 | 334 |
Lifetime expected credit losses | POCI | Accumulated impairment | Loans and advances to banks and customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (194) | (242) |
Net new lending and further lending/payments | 42 | |
Changes to risk parameters – credit quality | (51) | (51) |
Assets written off | 140 | 1 |
Foreign exchange and other | 1 | 6 |
Financial assets, ending balance | (99) | (194) |
ECL income statement change for the period | (52) | (9) |
Wholesale Lending Sector | Gross carrying amount | Loans and advances to banks and customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 1,010,031 | 993,134 |
Net new lending and further lending/payments | 6,382 | 57,397 |
Assets written off | (1,452) | (1,183) |
Credit-related modifications that resulted in derecognition | (268) | |
Foreign exchange and other | 8,762 | (39,317) |
Financial assets, ending balance | 1,023,455 | 1,010,031 |
Wholesale Lending Sector | Accumulated impairment | Loans and advances to banks and customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (6,095) | (6,774) |
Net remeasurement of ECL arising from transfer of stage | (83) | (61) |
Net new lending and further lending/payments | 401 | 519 |
Changes to risk parameters – credit quality | (1,656) | (1,236) |
Changes to models used for ECL calculation | (56) | |
Assets written off | 1,452 | 1,173 |
Credit-related modifications that resulted in derecognition | 125 | |
Foreign exchange and other | (63) | 284 |
Financial assets, ending balance | (5,975) | (6,095) |
ECL income statement change for the period | (1,394) | (778) |
Recoveries | 47 | 118 |
Others | (24) | (69) |
Total ECL income statement change for the period | (1,371) | (729) |
Wholesale Lending Sector | 12-month expected credit losses | Financial instruments not credit-impaired | Gross carrying amount | Loans and advances to banks and customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 922,192 | 897,529 |
Transfers of financial instruments | (31,493) | (4,477) |
Net new lending and further lending/payments | 27,918 | 74,107 |
Foreign exchange and other | 7,035 | (44,967) |
Financial assets, ending balance | 925,652 | 922,192 |
Wholesale Lending Sector | 12-month expected credit losses | Financial instruments not credit-impaired | Accumulated impairment | Loans and advances to banks and customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (902) | (873) |
Transfers of financial instruments | (169) | (274) |
Net remeasurement of ECL arising from transfer of stage | 223 | 262 |
Net new lending and further lending/payments | (134) | (271) |
Changes to risk parameters – credit quality | 102 | 157 |
Foreign exchange and other | 13 | 97 |
Financial assets, ending balance | (867) | (902) |
ECL income statement change for the period | 191 | 148 |
Wholesale Lending Sector | Lifetime expected credit losses | Financial instruments not credit-impaired | Gross carrying amount | Loans and advances to banks and customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 78,266 | 84,354 |
Transfers of financial instruments | 28,418 | 1,535 |
Net new lending and further lending/payments | (20,121) | (13,709) |
Foreign exchange and other | 1,606 | 6,086 |
Financial assets, ending balance | 88,169 | 78,266 |
Wholesale Lending Sector | Lifetime expected credit losses | Financial instruments not credit-impaired | Accumulated impairment | Loans and advances to banks and customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (1,012) | (1,249) |
Transfers of financial instruments | 276 | 386 |
Net remeasurement of ECL arising from transfer of stage | (268) | (231) |
Net new lending and further lending/payments | 167 | 342 |
Changes to risk parameters – credit quality | (193) | (301) |
Changes to models used for ECL calculation | (56) | |
Foreign exchange and other | (17) | 41 |
Financial assets, ending balance | (1,103) | (1,012) |
ECL income statement change for the period | (350) | (190) |
Wholesale Lending Sector | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Gross carrying amount | Loans and advances to banks and customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 9,239 | 10,209 |
Transfers of financial instruments | 3,075 | 2,942 |
Net new lending and further lending/payments | (1,552) | (2,414) |
Assets written off | (1,312) | (1,182) |
Credit-related modifications that resulted in derecognition | (268) | |
Foreign exchange and other | 107 | (316) |
Financial assets, ending balance | 9,289 | 9,239 |
Wholesale Lending Sector | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Accumulated impairment | Loans and advances to banks and customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (3,987) | (4,410) |
Transfers of financial instruments | (107) | (112) |
Net remeasurement of ECL arising from transfer of stage | (38) | (92) |
Net new lending and further lending/payments | 369 | 406 |
Changes to risk parameters – credit quality | (1,514) | (1,041) |
Assets written off | 1,312 | 1,172 |
Credit-related modifications that resulted in derecognition | 125 | |
Foreign exchange and other | (66) | 90 |
Financial assets, ending balance | (3,906) | (3,987) |
ECL income statement change for the period | (1,183) | (727) |
Wholesale Lending Sector | Lifetime expected credit losses | POCI | Gross carrying amount | Loans and advances to banks and customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 334 | 1,042 |
Net new lending and further lending/payments | 137 | (587) |
Assets written off | (140) | (1) |
Foreign exchange and other | 14 | (120) |
Financial assets, ending balance | 345 | 334 |
Wholesale Lending Sector | Lifetime expected credit losses | POCI | Accumulated impairment | Loans and advances to banks and customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (194) | (242) |
Net new lending and further lending/payments | (1) | 42 |
Changes to risk parameters – credit quality | (51) | (51) |
Assets written off | 140 | 1 |
Foreign exchange and other | 7 | 56 |
Financial assets, ending balance | (99) | (194) |
ECL income statement change for the period | $ (52) | $ (9) |
Report Of The Directors Fina_13
Report Of The Directors Financial Review Risk Report - Wholesale lending: commercial real estate loans and advances including loan commitments by level of collateral for key countries/territories (by stage) (Details) - Wholesale Lending Sector - Commercial real estate loans and advances including loan commitments - Loans and advances to customers and banks - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 168,072 | $ 164,464 |
ECL coverage | 0.50% | 0.50% |
UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 31,032 | $ 30,845 |
ECL coverage | 1.00% | 0.90% |
Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 77,903 | $ 75,271 |
ECL coverage | 0.10% | 0.00% |
US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 5,617 | $ 5,301 |
ECL coverage | 0.10% | 0.10% |
12-month expected credit losses | Financial instruments not credit-impaired | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 157,702 | $ 154,547 |
Collateral value | $ 3,602 | $ 3,735 |
ECL coverage | 0.10% | 0.10% |
12-month expected credit losses | Financial instruments not credit-impaired | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 26,483 | $ 27,603 |
Collateral value | $ 535 | $ 285 |
ECL coverage | 0.10% | 0.10% |
12-month expected credit losses | Financial instruments not credit-impaired | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 75,903 | $ 72,528 |
Collateral value | $ 1,142 | $ 1,401 |
ECL coverage | 0.00% | 0.00% |
12-month expected credit losses | Financial instruments not credit-impaired | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 5,263 | $ 4,862 |
Collateral value | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
12-month expected credit losses | Financial instruments not credit-impaired | Not collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 61,820 | $ 61,486 |
ECL coverage | 0.10% | 0.10% |
12-month expected credit losses | Financial instruments not credit-impaired | Not collateralised | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 7,266 | $ 9,920 |
ECL coverage | 0.10% | 0.20% |
12-month expected credit losses | Financial instruments not credit-impaired | Not collateralised | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 32,478 | $ 31,224 |
ECL coverage | 0.00% | 0.00% |
12-month expected credit losses | Financial instruments not credit-impaired | Not collateralised | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 541 | $ 0 |
ECL coverage | 0.00% | 0.00% |
12-month expected credit losses | Financial instruments not credit-impaired | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 89,319 | $ 86,960 |
ECL coverage | 0.10% | 0.10% |
12-month expected credit losses | Financial instruments not credit-impaired | Fully collateralised | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 18,535 | $ 17,196 |
ECL coverage | 0.00% | 0.10% |
12-month expected credit losses | Financial instruments not credit-impaired | Fully collateralised | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 41,798 | $ 39,174 |
ECL coverage | 0.00% | 0.00% |
12-month expected credit losses | Financial instruments not credit-impaired | Fully collateralised | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 4,722 | $ 4,862 |
ECL coverage | 0.00% | 0.00% |
12-month expected credit losses | Financial instruments not credit-impaired | Partially collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 6,563 | $ 6,101 |
ECL coverage | 0.20% | 0.10% |
12-month expected credit losses | Financial instruments not credit-impaired | Partially collateralised | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 682 | $ 487 |
ECL coverage | 0.00% | 0.20% |
12-month expected credit losses | Financial instruments not credit-impaired | Partially collateralised | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,627 | $ 2,130 |
ECL coverage | 0.10% | 0.00% |
12-month expected credit losses | Financial instruments not credit-impaired | Partially collateralised | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
12-month expected credit losses | Financial instruments not credit-impaired | – less than 50% | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 46,318 | $ 46,650 |
ECL coverage | 0.10% | 0.10% |
12-month expected credit losses | Financial instruments not credit-impaired | – less than 50% | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 7,018 | $ 7,673 |
ECL coverage | 0.10% | 0.10% |
12-month expected credit losses | Financial instruments not credit-impaired | – less than 50% | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 28,776 | $ 25,870 |
ECL coverage | 0.00% | 0.00% |
12-month expected credit losses | Financial instruments not credit-impaired | – less than 50% | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,703 | $ 3,463 |
ECL coverage | 0.10% | 0.00% |
12-month expected credit losses | Financial instruments not credit-impaired | – 51% to 75% | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 32,583 | $ 29,384 |
ECL coverage | 0.10% | 0.10% |
12-month expected credit losses | Financial instruments not credit-impaired | – 51% to 75% | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 9,349 | $ 7,937 |
ECL coverage | 0.00% | 0.10% |
12-month expected credit losses | Financial instruments not credit-impaired | – 51% to 75% | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 10,815 | $ 10,452 |
ECL coverage | 0.10% | 0.10% |
12-month expected credit losses | Financial instruments not credit-impaired | – 51% to 75% | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 2,854 | $ 787 |
ECL coverage | 0.00% | 0.00% |
12-month expected credit losses | Financial instruments not credit-impaired | – 76% to 90% | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 5,018 | $ 5,167 |
ECL coverage | 0.10% | 0.10% |
12-month expected credit losses | Financial instruments not credit-impaired | – 76% to 90% | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,649 | $ 1,038 |
ECL coverage | 0.10% | 0.00% |
12-month expected credit losses | Financial instruments not credit-impaired | – 76% to 90% | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,436 | $ 1,168 |
ECL coverage | 0.10% | 0.10% |
12-month expected credit losses | Financial instruments not credit-impaired | – 76% to 90% | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 96 | $ 519 |
ECL coverage | 0.00% | 0.00% |
12-month expected credit losses | Financial instruments not credit-impaired | – 91% to 100% | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 5,400 | $ 5,759 |
ECL coverage | 0.20% | 0.20% |
12-month expected credit losses | Financial instruments not credit-impaired | – 91% to 100% | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 519 | $ 548 |
ECL coverage | 0.00% | 0.20% |
12-month expected credit losses | Financial instruments not credit-impaired | – 91% to 100% | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 771 | $ 1,684 |
ECL coverage | 0.00% | 0.10% |
12-month expected credit losses | Financial instruments not credit-impaired | – 91% to 100% | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 69 | $ 93 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | Financial instruments not credit-impaired | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 8,724 | $ 8,484 |
Collateral value | $ 203 | $ 156 |
ECL coverage | 1.10% | 1.10% |
Lifetime expected credit losses | Financial instruments not credit-impaired | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 3,572 | $ 2,487 |
Collateral value | $ 56 | $ 20 |
ECL coverage | 1.10% | 2.00% |
Lifetime expected credit losses | Financial instruments not credit-impaired | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,983 | $ 2,731 |
Collateral value | $ 25 | $ 5 |
ECL coverage | 0.50% | 0.30% |
Lifetime expected credit losses | Financial instruments not credit-impaired | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 354 | $ 439 |
Collateral value | 0 | $ 0 |
ECL coverage | 0.50% | |
Lifetime expected credit losses | Financial instruments not credit-impaired | Not collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 3,040 | $ 2,886 |
ECL coverage | 1.20% | 0.90% |
Lifetime expected credit losses | Financial instruments not credit-impaired | Not collateralised | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,857 | $ 1,083 |
ECL coverage | 1.20% | 1.00% |
Lifetime expected credit losses | Financial instruments not credit-impaired | Not collateralised | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 440 | $ 1,140 |
ECL coverage | 0.20% | 0.20% |
Lifetime expected credit losses | Financial instruments not credit-impaired | Not collateralised | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | Financial instruments not credit-impaired | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 5,184 | $ 5,309 |
ECL coverage | 1.10% | 1.10% |
Lifetime expected credit losses | Financial instruments not credit-impaired | Fully collateralised | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,419 | $ 1,352 |
ECL coverage | 1.20% | 2.60% |
Lifetime expected credit losses | Financial instruments not credit-impaired | Fully collateralised | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,501 | $ 1,576 |
ECL coverage | 0.60% | 0.40% |
Lifetime expected credit losses | Financial instruments not credit-impaired | Fully collateralised | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 354 | $ 439 |
ECL coverage | 1.40% | 0.50% |
Lifetime expected credit losses | Financial instruments not credit-impaired | Partially collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 500 | $ 289 |
ECL coverage | 0.60% | 1.40% |
Lifetime expected credit losses | Financial instruments not credit-impaired | Partially collateralised | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 296 | $ 52 |
ECL coverage | 0.30% | 5.80% |
Lifetime expected credit losses | Financial instruments not credit-impaired | Partially collateralised | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 42 | $ 15 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | Financial instruments not credit-impaired | Partially collateralised | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | Financial instruments not credit-impaired | – less than 50% | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 2,167 | $ 2,372 |
ECL coverage | 1.10% | 0.90% |
Lifetime expected credit losses | Financial instruments not credit-impaired | – less than 50% | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 615 | $ 727 |
ECL coverage | 1.80% | 1.90% |
Lifetime expected credit losses | Financial instruments not credit-impaired | – less than 50% | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 955 | $ 795 |
ECL coverage | 0.30% | 0.40% |
Lifetime expected credit losses | Financial instruments not credit-impaired | – less than 50% | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 62 | $ 303 |
ECL coverage | 0.00% | 0.70% |
Lifetime expected credit losses | Financial instruments not credit-impaired | – 51% to 75% | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,986 | $ 1,667 |
ECL coverage | 0.90% | 0.70% |
Lifetime expected credit losses | Financial instruments not credit-impaired | – 51% to 75% | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 712 | $ 567 |
ECL coverage | 0.60% | 0.70% |
Lifetime expected credit losses | Financial instruments not credit-impaired | – 51% to 75% | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 497 | $ 505 |
ECL coverage | 1.00% | 0.40% |
Lifetime expected credit losses | Financial instruments not credit-impaired | – 51% to 75% | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 292 | $ 7 |
ECL coverage | 1.40% | 0.00% |
Lifetime expected credit losses | Financial instruments not credit-impaired | – 76% to 90% | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 333 | $ 363 |
ECL coverage | 2.10% | 5.00% |
Lifetime expected credit losses | Financial instruments not credit-impaired | – 76% to 90% | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 16 | $ 34 |
ECL coverage | 6.30% | 44.10% |
Lifetime expected credit losses | Financial instruments not credit-impaired | – 76% to 90% | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 29 | $ 29 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | Financial instruments not credit-impaired | – 76% to 90% | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 129 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | Financial instruments not credit-impaired | – 91% to 100% | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 698 | $ 907 |
ECL coverage | 1.10% | 1.00% |
Lifetime expected credit losses | Financial instruments not credit-impaired | – 91% to 100% | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 76 | $ 24 |
ECL coverage | 1.30% | 8.30% |
Lifetime expected credit losses | Financial instruments not credit-impaired | – 91% to 100% | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 20 | $ 247 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | Financial instruments not credit-impaired | – 91% to 100% | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,645 | $ 1,418 |
Collateral value | $ 380 | $ 321 |
ECL coverage | 35.60% | 37.90% |
Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 977 | $ 755 |
Collateral value | $ 166 | $ 137 |
ECL coverage | 26.00% | 27.00% |
Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 17 | $ 12 |
Collateral value | $ 0 | $ 0 |
ECL coverage | 11.80% | 0.00% |
Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
Collateral value | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Not collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 315 | $ 338 |
ECL coverage | 57.80% | 57.10% |
Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Not collateralised | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 66 | $ 61 |
ECL coverage | 92.40% | 85.20% |
Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Not collateralised | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Not collateralised | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 557 | $ 606 |
ECL coverage | 14.90% | 12.70% |
Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Fully collateralised | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 404 | $ 433 |
ECL coverage | 12.90% | 9.20% |
Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Fully collateralised | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 17 | $ 12 |
ECL coverage | 11.80% | 0.00% |
Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Fully collateralised | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Partially collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 773 | $ 474 |
ECL coverage | 41.50% | 56.50% |
Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Partially collateralised | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 507 | $ 261 |
ECL coverage | 27.80% | 42.90% |
Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Partially collateralised | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Partially collateralised | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | – less than 50% | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 87 | $ 412 |
ECL coverage | 16.10% | 10.00% |
Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | – less than 50% | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 42 | $ 304 |
ECL coverage | 7.10% | 9.20% |
Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | – less than 50% | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 6 | $ 2 |
ECL coverage | 16.70% | 0.00% |
Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | – less than 50% | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | – 51% to 75% | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 90 | $ 88 |
ECL coverage | 7.80% | 27.30% |
Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | – 51% to 75% | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 69 | $ 58 |
ECL coverage | 4.30% | 6.90% |
Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | – 51% to 75% | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 10 | $ 10 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | – 51% to 75% | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | – 76% to 90% | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 89 | $ 38 |
ECL coverage | 15.70% | 2.60% |
Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | – 76% to 90% | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 72 | $ 35 |
ECL coverage | 4.20% | 5.70% |
Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | – 76% to 90% | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | – 76% to 90% | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | – 91% to 100% | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 291 | $ 68 |
ECL coverage | 16.50% | 16.20% |
Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | – 91% to 100% | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 221 | $ 36 |
ECL coverage | 19.50% | 16.70% |
Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | – 91% to 100% | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | – 91% to 100% | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | POCI | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1 | $ 15 |
Collateral value | $ 0 | $ 0 |
ECL coverage | 0.00% | 53.30% |
Lifetime expected credit losses | POCI | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
Collateral value | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | POCI | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
Collateral value | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | POCI | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
Collateral value | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | POCI | Not collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | POCI | Not collateralised | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | POCI | Not collateralised | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | POCI | Not collateralised | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | POCI | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1 | $ 15 |
ECL coverage | 0.00% | 53.30% |
Lifetime expected credit losses | POCI | Fully collateralised | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | POCI | Fully collateralised | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | POCI | Fully collateralised | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | POCI | Partially collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | POCI | Partially collateralised | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | POCI | Partially collateralised | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | POCI | Partially collateralised | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | POCI | – less than 50% | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1 | $ 13 |
ECL coverage | 0.00% | 61.50% |
Lifetime expected credit losses | POCI | – less than 50% | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | POCI | – less than 50% | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | POCI | – less than 50% | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | POCI | – 51% to 75% | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 2 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | POCI | – 51% to 75% | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | POCI | – 51% to 75% | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | POCI | – 51% to 75% | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | POCI | – 76% to 90% | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | POCI | – 76% to 90% | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | POCI | – 76% to 90% | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | POCI | – 76% to 90% | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | POCI | – 91% to 100% | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | POCI | – 91% to 100% | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | POCI | – 91% to 100% | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | POCI | – 91% to 100% | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Report Of The Directors Fina_14
Report Of The Directors Financial Review Risk Report - Wholesale lending: commercial real estate loans and advances including loan commitments by level of collateral for key countries/territories (Details) - Wholesale Lending Sector - Commercial real estate loans and advances including loan commitments - Loans and advances to customers and banks - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 168,072 | $ 164,464 |
ECL coverage | 0.50% | 0.50% |
Rated CRR/PD1 to 7 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 166,201 | $ 162,492 |
Collateral value | $ 3,796 | $ 3,879 |
ECL coverage | 0.10% | 0.10% |
Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 225 | $ 539 |
Collateral value | $ 9 | $ 12 |
ECL coverage | 6.70% | 1.70% |
Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,646 | $ 1,433 |
Collateral value | $ 380 | $ 321 |
ECL coverage | 35.70% | 38.00% |
UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 31,032 | $ 30,845 |
ECL coverage | 1.00% | 0.90% |
UK | Rated CRR/PD1 to 7 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 29,923 | $ 29,645 |
Collateral value | $ 586 | $ 299 |
ECL coverage | 0.10% | 0.30% |
UK | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 132 | $ 445 |
Collateral value | $ 5 | $ 6 |
ECL coverage | 7.60% | 1.30% |
UK | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 977 | $ 755 |
Collateral value | $ 166 | $ 137 |
ECL coverage | 26.00% | 27.00% |
Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 77,903 | $ 75,271 |
ECL coverage | 0.10% | 0.00% |
Hong Kong | Rated CRR/PD1 to 7 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 77,886 | $ 75,256 |
Collateral value | $ 1,167 | $ 1,406 |
ECL coverage | 0.00% | 0.00% |
Hong Kong | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 3 |
Collateral value | $ 0 | $ 0 |
ECL coverage | 0.00% | 33.30% |
Hong Kong | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 17 | $ 12 |
Collateral value | $ 0 | $ 0 |
ECL coverage | 11.80% | 0.00% |
US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 5,617 | $ 5,301 |
ECL coverage | 0.10% | 0.10% |
US | Rated CRR/PD1 to 7 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 5,562 | $ 5,282 |
Collateral value | $ 0 | $ 0 |
ECL coverage | 0.10% | 0.10% |
US | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 55 | $ 19 |
Collateral value | $ 0 | $ 0 |
ECL coverage | 3.60% | 0.00% |
US | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
Collateral value | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Not collateralised | Rated CRR/PD1 to 7 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 64,850 | $ 64,324 |
ECL coverage | 0.10% | 0.10% |
Not collateralised | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 10 | $ 49 |
ECL coverage | 50.00% | 2.00% |
Not collateralised | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 315 | $ 338 |
ECL coverage | 57.80% | 57.10% |
Not collateralised | UK | Rated CRR/PD1 to 7 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 9,119 | $ 11,001 |
ECL coverage | 0.30% | 0.20% |
Not collateralised | UK | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 4 | $ 2 |
ECL coverage | 100.00% | 0.00% |
Not collateralised | UK | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 66 | $ 61 |
ECL coverage | 92.40% | 85.20% |
Not collateralised | Hong Kong | Rated CRR/PD1 to 7 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 32,918 | $ 32,364 |
ECL coverage | 0.00% | 0.00% |
Not collateralised | Hong Kong | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Not collateralised | Hong Kong | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Not collateralised | US | Rated CRR/PD1 to 7 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 541 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Not collateralised | US | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Not collateralised | US | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Fully collateralised | Rated CRR/PD1 to 7 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 94,299 | $ 91,791 |
ECL coverage | 0.10% | 0.10% |
Fully collateralised | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 204 | $ 477 |
ECL coverage | 4.90% | 1.50% |
Fully collateralised | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 557 | $ 621 |
ECL coverage | 14.90% | 13.50% |
Fully collateralised | UK | Rated CRR/PD1 to 7 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 19,833 | $ 18,112 |
ECL coverage | 0.10% | 0.20% |
Fully collateralised | UK | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 121 | $ 435 |
ECL coverage | 5.00% | 1.10% |
Fully collateralised | UK | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 404 | $ 433 |
ECL coverage | 12.90% | 9.20% |
Fully collateralised | Hong Kong | Rated CRR/PD1 to 7 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 43,299 | $ 40,747 |
ECL coverage | 0.10% | 0.10% |
Fully collateralised | Hong Kong | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 3 |
ECL coverage | 0.00% | 33.30% |
Fully collateralised | Hong Kong | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 17 | $ 12 |
ECL coverage | 11.80% | 0.00% |
Fully collateralised | US | Rated CRR/PD1 to 7 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 5,021 | $ 5,282 |
ECL coverage | 0.10% | 0.10% |
Fully collateralised | US | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 55 | $ 19 |
ECL coverage | 3.60% | 0.00% |
Fully collateralised | US | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Partially collateralised | Rated CRR/PD1 to 7 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 7,052 | $ 6,377 |
ECL coverage | 0.20% | 0.20% |
Partially collateralised | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 11 | $ 13 |
ECL coverage | 0.00% | 7.70% |
Partially collateralised | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 774 | $ 474 |
ECL coverage | 41.60% | 56.50% |
Partially collateralised | UK | Rated CRR/PD1 to 7 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 971 | $ 532 |
ECL coverage | 0.10% | 0.60% |
Partially collateralised | UK | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 7 | $ 8 |
ECL coverage | 0.00% | 12.50% |
Partially collateralised | UK | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 507 | $ 261 |
ECL coverage | 27.80% | 42.90% |
Partially collateralised | Hong Kong | Rated CRR/PD1 to 7 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,669 | $ 2,145 |
ECL coverage | 0.10% | 0.00% |
Partially collateralised | Hong Kong | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Partially collateralised | Hong Kong | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Partially collateralised | US | Rated CRR/PD1 to 7 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Partially collateralised | US | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Partially collateralised | US | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
– less than 50% | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 47 | $ 178 |
ECL coverage | 8.50% | 1.70% |
– less than 50% | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 87 | $ 425 |
ECL coverage | 16.10% | 11.50% |
– less than 50% | UK | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 27 | $ 149 |
ECL coverage | 14.80% | 1.30% |
– less than 50% | UK | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 42 | $ 304 |
ECL coverage | 7.10% | 9.20% |
– less than 50% | Hong Kong | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 3 |
ECL coverage | 0.00% | 33.30% |
– less than 50% | Hong Kong | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 6 | $ 2 |
ECL coverage | 16.70% | 0.00% |
– less than 50% | US | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 13 | $ 19 |
ECL coverage | 0.00% | 0.00% |
– less than 50% | US | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
– 51% to 75% | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 120 | $ 269 |
ECL coverage | 3.30% | 0.40% |
– 51% to 75% | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 90 | $ 90 |
ECL coverage | 7.80% | 26.70% |
– 51% to 75% | UK | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 68 | $ 265 |
ECL coverage | 1.50% | 0.40% |
– 51% to 75% | UK | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 69 | $ 58 |
ECL coverage | 4.30% | 6.90% |
– 51% to 75% | Hong Kong | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
– 51% to 75% | Hong Kong | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 10 | $ 10 |
ECL coverage | 0.00% | 0.00% |
– 51% to 75% | US | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 42 | $ 0 |
ECL coverage | 4.80% | 0.00% |
– 51% to 75% | US | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
– 76% to 90% | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 25 | $ 13 |
ECL coverage | 4.00% | 7.70% |
– 76% to 90% | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 89 | $ 38 |
ECL coverage | 15.70% | 2.60% |
– 76% to 90% | UK | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 15 | $ 7 |
ECL coverage | 6.70% | 14.30% |
– 76% to 90% | UK | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 72 | $ 35 |
ECL coverage | 4.20% | 5.70% |
– 76% to 90% | Hong Kong | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
– 76% to 90% | Hong Kong | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
– 76% to 90% | US | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
– 76% to 90% | US | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
– 91% to 100% | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 12 | $ 17 |
ECL coverage | 8.30% | 11.80% |
– 91% to 100% | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 291 | $ 68 |
ECL coverage | 16.50% | 16.20% |
– 91% to 100% | UK | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 11 | $ 14 |
ECL coverage | 0.00% | 14.30% |
– 91% to 100% | UK | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 221 | $ 36 |
ECL coverage | 19.50% | 16.70% |
– 91% to 100% | Hong Kong | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
– 91% to 100% | Hong Kong | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1 | $ 0 |
ECL coverage | 100.00% | 0.00% |
– 91% to 100% | US | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
– 91% to 100% | US | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Report Of The Directors Fina_15
Report Of The Directors Financial Review Risk Report - Wholesale lending: other corporate, commercial and financial (non-bank) loans and advances including loan commitments by level of collateral for key countries/territories (by stage) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Wholesale Lending Sector | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 11,434 | $ 11,242 |
ECL coverage | 31.30% | 33.70% |
Wholesale Lending Sector | Loans and advances to customers and banks | UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 3,571 | $ 3,137 |
ECL coverage | 23.70% | 27.40% |
Wholesale Lending Sector | Loans and advances to customers and banks | Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 808 | $ 1,109 |
ECL coverage | 63.40% | 41.30% |
Wholesale Lending Sector | Loans and advances to customers and banks | US | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 2,185 | $ 2,011 |
ECL coverage | 4.50% | 4.20% |
IFRS 9 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 2,340,873 | $ 2,251,833 |
IFRS 9 | Wholesale Lending Sector | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 960,350 | $ 945,329 |
ECL coverage | 0.50% | 0.60% |
IFRS 9 | Wholesale Lending Sector | Loans and advances to customers and banks | UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 201,315 | $ 205,537 |
ECL coverage | 0.70% | 0.80% |
IFRS 9 | Wholesale Lending Sector | Loans and advances to customers and banks | Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 200,251 | $ 193,659 |
ECL coverage | 0.40% | 0.30% |
IFRS 9 | Wholesale Lending Sector | Loans and advances to customers and banks | US | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 140,799 | $ 140,586 |
ECL coverage | 0.10% | 0.10% |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | 12-month expected credit losses | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 861,259 | $ 855,444 |
Collateral value | $ 25,824 | $ 23,857 |
ECL coverage | 0.10% | 0.10% |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | 12-month expected credit losses | Loans and advances to customers and banks | UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 180,491 | $ 174,429 |
Collateral value | $ 3,809 | $ 3,250 |
ECL coverage | 0.20% | 0.20% |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | 12-month expected credit losses | Loans and advances to customers and banks | Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 169,516 | $ 180,931 |
Collateral value | $ 9,616 | $ 10,263 |
ECL coverage | 0.00% | 0.00% |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | 12-month expected credit losses | Loans and advances to customers and banks | US | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 129,370 | $ 129,105 |
Collateral value | $ 1,337 | $ 912 |
ECL coverage | 0.00% | 0.00% |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | 12-month expected credit losses | Not collateralised | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 680,079 | $ 673,589 |
ECL coverage | 0.10% | 0.10% |
Change in collateralised status, financial assets and off-balance sheet loan commitments | $ 130,000 | |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | 12-month expected credit losses | Not collateralised | Loans and advances to customers and banks | UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 132,197 | $ 137,269 |
ECL coverage | 0.20% | 0.20% |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | 12-month expected credit losses | Not collateralised | Loans and advances to customers and banks | Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 116,536 | $ 122,259 |
ECL coverage | 0.00% | 0.00% |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | 12-month expected credit losses | Not collateralised | Loans and advances to customers and banks | US | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 112,911 | $ 116,001 |
ECL coverage | 0.00% | 0.00% |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | 12-month expected credit losses | Fully collateralised | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 128,290 | $ 127,443 |
ECL coverage | 0.10% | 0.10% |
Change in collateralised status, financial assets and off-balance sheet loan commitments | $ (105,000) | |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | 12-month expected credit losses | Fully collateralised | Loans and advances to customers and banks | UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 40,172 | $ 30,492 |
ECL coverage | 0.10% | 0.10% |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | 12-month expected credit losses | Fully collateralised | Loans and advances to customers and banks | Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 32,818 | $ 36,730 |
ECL coverage | 0.10% | 0.10% |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | 12-month expected credit losses | Fully collateralised | Loans and advances to customers and banks | US | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 14,830 | $ 11,229 |
ECL coverage | 0.00% | 0.10% |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | 12-month expected credit losses | Partially collateralised | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 52,890 | $ 54,412 |
ECL coverage | 0.10% | 0.10% |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | 12-month expected credit losses | Partially collateralised | Loans and advances to customers and banks | UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 8,122 | $ 6,668 |
ECL coverage | 0.10% | 0.20% |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | 12-month expected credit losses | Partially collateralised | Loans and advances to customers and banks | Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 20,162 | $ 21,942 |
ECL coverage | 0.10% | 0.00% |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | 12-month expected credit losses | Partially collateralised | Loans and advances to customers and banks | US | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,629 | $ 1,875 |
ECL coverage | 0.00% | 0.00% |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | 12-month expected credit losses | – less than 50% | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 48,012 | $ 39,509 |
ECL coverage | 0.10% | 0.10% |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | 12-month expected credit losses | – less than 50% | Loans and advances to customers and banks | UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 13,831 | $ 8,519 |
ECL coverage | 0.10% | 0.20% |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | 12-month expected credit losses | – less than 50% | Loans and advances to customers and banks | Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 11,009 | $ 12,032 |
ECL coverage | 0.10% | 0.10% |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | 12-month expected credit losses | – less than 50% | Loans and advances to customers and banks | US | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 5,326 | $ 4,686 |
ECL coverage | 0.00% | 0.00% |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | 12-month expected credit losses | – 51% to 75% | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 37,891 | $ 49,518 |
ECL coverage | 0.10% | 0.10% |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | 12-month expected credit losses | – 51% to 75% | Loans and advances to customers and banks | UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 11,903 | $ 9,275 |
ECL coverage | 0.20% | 0.20% |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | 12-month expected credit losses | – 51% to 75% | Loans and advances to customers and banks | Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 12,783 | $ 14,264 |
ECL coverage | 0.10% | 0.10% |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | 12-month expected credit losses | – 51% to 75% | Loans and advances to customers and banks | US | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 3,717 | $ 2,424 |
ECL coverage | 0.10% | 0.00% |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | 12-month expected credit losses | – 76% to 90% | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 13,072 | $ 12,627 |
ECL coverage | 0.10% | 0.10% |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | 12-month expected credit losses | – 76% to 90% | Loans and advances to customers and banks | UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 3,399 | $ 3,201 |
ECL coverage | 0.20% | 0.20% |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | 12-month expected credit losses | – 76% to 90% | Loans and advances to customers and banks | Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 4,697 | $ 4,567 |
ECL coverage | 0.10% | 0.10% |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | 12-month expected credit losses | – 76% to 90% | Loans and advances to customers and banks | US | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 130 | $ 318 |
ECL coverage | 0.00% | 0.00% |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | 12-month expected credit losses | – 91% to 100% | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 29,315 | $ 25,789 |
ECL coverage | 0.00% | 0.10% |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | 12-month expected credit losses | – 91% to 100% | Loans and advances to customers and banks | UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 11,039 | $ 9,497 |
ECL coverage | 0.00% | 0.00% |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | 12-month expected credit losses | – 91% to 100% | Loans and advances to customers and banks | Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 4,329 | $ 5,867 |
ECL coverage | 0.10% | 0.10% |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | 12-month expected credit losses | – 91% to 100% | Loans and advances to customers and banks | US | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 5,657 | $ 3,801 |
ECL coverage | 0.00% | 0.00% |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | Lifetime expected credit losses | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 91,129 | $ 81,720 |
Collateral value | $ 3,669 | $ 2,324 |
ECL coverage | 1.10% | 1.10% |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | Lifetime expected credit losses | Loans and advances to customers and banks | UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 17,973 | $ 28,473 |
Collateral value | $ 370 | $ 339 |
ECL coverage | 2.10% | 1.60% |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | Lifetime expected credit losses | Loans and advances to customers and banks | Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 30,010 | $ 11,877 |
Collateral value | $ 1,801 | $ 971 |
ECL coverage | 0.60% | 0.40% |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | Lifetime expected credit losses | Loans and advances to customers and banks | US | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 11,121 | $ 11,279 |
Collateral value | $ 53 | $ 16 |
ECL coverage | 0.90% | 1.10% |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | Lifetime expected credit losses | Not collateralised | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 61,540 | $ 61,464 |
ECL coverage | 1.20% | 1.10% |
Change in collateralised status, financial assets and off-balance sheet loan commitments | $ 14,000 | |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | Lifetime expected credit losses | Not collateralised | Loans and advances to customers and banks | UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 13,318 | $ 21,035 |
ECL coverage | 2.20% | 1.70% |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | Lifetime expected credit losses | Not collateralised | Loans and advances to customers and banks | Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 13,308 | $ 6,212 |
ECL coverage | 0.70% | 0.40% |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | Lifetime expected credit losses | Not collateralised | Loans and advances to customers and banks | US | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 10,129 | $ 10,085 |
ECL coverage | 0.90% | 1.20% |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | Lifetime expected credit losses | Fully collateralised | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 21,126 | $ 13,633 |
ECL coverage | 0.80% | 1.20% |
Change in collateralised status, financial assets and off-balance sheet loan commitments | $ (12,000) | |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | Lifetime expected credit losses | Fully collateralised | Loans and advances to customers and banks | UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 3,139 | $ 5,645 |
ECL coverage | 1.80% | 1.50% |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | Lifetime expected credit losses | Fully collateralised | Loans and advances to customers and banks | Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 12,934 | $ 3,378 |
ECL coverage | 0.60% | 0.50% |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | Lifetime expected credit losses | Fully collateralised | Loans and advances to customers and banks | US | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 868 | $ 1,131 |
ECL coverage | 0.80% | 9.30% |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | Lifetime expected credit losses | Partially collateralised | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 8,463 | $ 6,623 |
ECL coverage | 0.80% | 0.70% |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | Lifetime expected credit losses | Partially collateralised | Loans and advances to customers and banks | UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,516 | $ 1,793 |
ECL coverage | 1.40% | 1.20% |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | Lifetime expected credit losses | Partially collateralised | Loans and advances to customers and banks | Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 3,768 | $ 2,287 |
ECL coverage | 0.40% | 0.30% |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | Lifetime expected credit losses | Partially collateralised | Loans and advances to customers and banks | US | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 124 | $ 63 |
ECL coverage | 1.60% | 1.60% |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | Lifetime expected credit losses | – less than 50% | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 7,081 | $ 5,109 |
ECL coverage | 0.90% | 1.10% |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | Lifetime expected credit losses | – less than 50% | Loans and advances to customers and banks | UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,208 | $ 2,047 |
ECL coverage | 2.00% | 1.70% |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | Lifetime expected credit losses | – less than 50% | Loans and advances to customers and banks | Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 3,845 | $ 1,421 |
ECL coverage | 0.60% | 0.40% |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | Lifetime expected credit losses | – less than 50% | Loans and advances to customers and banks | US | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 303 | $ 342 |
ECL coverage | 0.30% | 0.60% |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | Lifetime expected credit losses | – 51% to 75% | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 8,482 | $ 4,950 |
ECL coverage | 0.90% | 1.30% |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | Lifetime expected credit losses | – 51% to 75% | Loans and advances to customers and banks | UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,111 | $ 2,154 |
ECL coverage | 1.80% | 1.80% |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | Lifetime expected credit losses | – 51% to 75% | Loans and advances to customers and banks | Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 5,580 | $ 1,290 |
ECL coverage | 0.70% | 0.60% |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | Lifetime expected credit losses | – 51% to 75% | Loans and advances to customers and banks | US | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 465 | $ 467 |
ECL coverage | 1.10% | 0.60% |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | Lifetime expected credit losses | – 76% to 90% | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 2,684 | $ 1,399 |
ECL coverage | 0.90% | 1.80% |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | Lifetime expected credit losses | – 76% to 90% | Loans and advances to customers and banks | UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 282 | $ 496 |
ECL coverage | 2.10% | 1.20% |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | Lifetime expected credit losses | – 76% to 90% | Loans and advances to customers and banks | Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,646 | $ 391 |
ECL coverage | 0.50% | 0.50% |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | Lifetime expected credit losses | – 76% to 90% | Loans and advances to customers and banks | US | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 47 | $ 85 |
ECL coverage | 2.10% | 1.20% |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | Lifetime expected credit losses | – 91% to 100% | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 2,879 | $ 2,175 |
ECL coverage | 0.60% | 0.80% |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | Lifetime expected credit losses | – 91% to 100% | Loans and advances to customers and banks | UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 538 | $ 948 |
ECL coverage | 1.30% | 0.40% |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | Lifetime expected credit losses | – 91% to 100% | Loans and advances to customers and banks | Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,863 | $ 276 |
ECL coverage | 0.20% | 0.40% |
IFRS 9 | Wholesale Lending Sector | Financial instruments not credit-impaired | Lifetime expected credit losses | – 91% to 100% | Loans and advances to customers and banks | US | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 53 | $ 237 |
ECL coverage | 0.00% | 1.70% |
IFRS 9 | Wholesale Lending Sector | Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 7,614 | $ 7,847 |
Collateral value | $ 693 | $ 580 |
ECL coverage | 43.20% | 44.10% |
IFRS 9 | Wholesale Lending Sector | Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | Loans and advances to customers and banks | UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 2,762 | $ 2,627 |
Collateral value | $ 192 | $ 132 |
ECL coverage | 27.60% | 31.20% |
IFRS 9 | Wholesale Lending Sector | Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | Loans and advances to customers and banks | Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 677 | $ 782 |
Collateral value | $ 34 | $ 38 |
ECL coverage | 70.00% | 52.70% |
IFRS 9 | Wholesale Lending Sector | Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | Loans and advances to customers and banks | US | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 308 | $ 202 |
Collateral value | $ 65 | $ 55 |
ECL coverage | 13.60% | 10.90% |
IFRS 9 | Wholesale Lending Sector | Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | Not collateralised | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 4,768 | $ 5,240 |
ECL coverage | 49.20% | 50.20% |
Change in collateralised status, financial assets and off-balance sheet loan commitments | $ 300 | |
IFRS 9 | Wholesale Lending Sector | Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | Not collateralised | Loans and advances to customers and banks | UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,899 | $ 1,882 |
ECL coverage | 33.00% | 38.80% |
IFRS 9 | Wholesale Lending Sector | Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | Not collateralised | Loans and advances to customers and banks | Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 504 | $ 478 |
ECL coverage | 83.50% | 81.20% |
IFRS 9 | Wholesale Lending Sector | Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | Not collateralised | Loans and advances to customers and banks | US | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 2 | $ 1 |
ECL coverage | 50.00% | 100.00% |
IFRS 9 | Wholesale Lending Sector | Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | Fully collateralised | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,479 | $ 1,460 |
ECL coverage | 22.40% | 22.90% |
Change in collateralised status, financial assets and off-balance sheet loan commitments | $ (100) | |
IFRS 9 | Wholesale Lending Sector | Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | Fully collateralised | Loans and advances to customers and banks | UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 494 | $ 517 |
ECL coverage | 12.60% | 6.20% |
IFRS 9 | Wholesale Lending Sector | Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | Fully collateralised | Loans and advances to customers and banks | Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 86 | $ 146 |
ECL coverage | 12.80% | 0.00% |
IFRS 9 | Wholesale Lending Sector | Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | Fully collateralised | Loans and advances to customers and banks | US | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 214 | $ 130 |
ECL coverage | 0.00% | 13.80% |
IFRS 9 | Wholesale Lending Sector | Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | Partially collateralised | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,367 | $ 1,147 |
ECL coverage | 44.80% | 43.10% |
IFRS 9 | Wholesale Lending Sector | Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | Partially collateralised | Loans and advances to customers and banks | UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 369 | $ 228 |
ECL coverage | 20.10% | 21.10% |
IFRS 9 | Wholesale Lending Sector | Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | Partially collateralised | Loans and advances to customers and banks | Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 87 | $ 158 |
ECL coverage | 48.30% | 15.20% |
IFRS 9 | Wholesale Lending Sector | Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | Partially collateralised | Loans and advances to customers and banks | US | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 92 | $ 71 |
ECL coverage | 44.60% | 31.00% |
IFRS 9 | Wholesale Lending Sector | Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | – less than 50% | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 335 | $ 361 |
ECL coverage | 35.20% | 36.00% |
IFRS 9 | Wholesale Lending Sector | Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | – less than 50% | Loans and advances to customers and banks | UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 103 | $ 133 |
ECL coverage | 17.50% | 10.50% |
IFRS 9 | Wholesale Lending Sector | Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | – less than 50% | Loans and advances to customers and banks | Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 9 | $ 11 |
ECL coverage | 33.30% | 0.00% |
IFRS 9 | Wholesale Lending Sector | Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | – less than 50% | Loans and advances to customers and banks | US | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 2 | $ 4 |
ECL coverage | 0.00% | 0.00% |
IFRS 9 | Wholesale Lending Sector | Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | – 51% to 75% | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 352 | $ 328 |
ECL coverage | 24.40% | 9.80% |
IFRS 9 | Wholesale Lending Sector | Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | – 51% to 75% | Loans and advances to customers and banks | UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 198 | $ 179 |
ECL coverage | 8.60% | 1.70% |
IFRS 9 | Wholesale Lending Sector | Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | – 51% to 75% | Loans and advances to customers and banks | Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 21 | $ 62 |
ECL coverage | 4.80% | 0.00% |
IFRS 9 | Wholesale Lending Sector | Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | – 51% to 75% | Loans and advances to customers and banks | US | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
IFRS 9 | Wholesale Lending Sector | Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | – 76% to 90% | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 373 | $ 427 |
ECL coverage | 23.60% | 24.60% |
IFRS 9 | Wholesale Lending Sector | Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | – 76% to 90% | Loans and advances to customers and banks | UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 101 | $ 131 |
ECL coverage | 20.80% | 13.70% |
IFRS 9 | Wholesale Lending Sector | Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | – 76% to 90% | Loans and advances to customers and banks | Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 40 | $ 32 |
ECL coverage | 7.50% | 0.00% |
IFRS 9 | Wholesale Lending Sector | Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | – 76% to 90% | Loans and advances to customers and banks | US | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
IFRS 9 | Wholesale Lending Sector | Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | – 91% to 100% | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 419 | $ 344 |
ECL coverage | 9.10% | 19.80% |
IFRS 9 | Wholesale Lending Sector | Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | – 91% to 100% | Loans and advances to customers and banks | UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 92 | $ 74 |
ECL coverage | 7.60% | 8.10% |
IFRS 9 | Wholesale Lending Sector | Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | – 91% to 100% | Loans and advances to customers and banks | Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 16 | $ 41 |
ECL coverage | 25.00% | 0.00% |
IFRS 9 | Wholesale Lending Sector | Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | – 91% to 100% | Loans and advances to customers and banks | US | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 212 | $ 126 |
ECL coverage | 0.00% | 0.00% |
IFRS 9 | Wholesale Lending Sector | POCI | Lifetime expected credit losses | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 348 | $ 318 |
Collateral value | $ 57 | $ 38 |
ECL coverage | 30.50% | 59.20% |
IFRS 9 | Wholesale Lending Sector | POCI | Lifetime expected credit losses | Loans and advances to customers and banks | UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 89 | $ 8 |
Collateral value | $ 19 | $ 3 |
ECL coverage | 36.00% | 0.00% |
IFRS 9 | Wholesale Lending Sector | POCI | Lifetime expected credit losses | Loans and advances to customers and banks | Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 48 | $ 69 |
Collateral value | $ 30 | $ 34 |
ECL coverage | 58.30% | 50.70% |
IFRS 9 | Wholesale Lending Sector | POCI | Lifetime expected credit losses | Loans and advances to customers and banks | US | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
Collateral value | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
IFRS 9 | Wholesale Lending Sector | POCI | Lifetime expected credit losses | Not collateralised | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 223 | $ 232 |
ECL coverage | 32.70% | 66.80% |
IFRS 9 | Wholesale Lending Sector | POCI | Lifetime expected credit losses | Not collateralised | Loans and advances to customers and banks | UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 32 | $ 0 |
ECL coverage | 96.90% | 0.00% |
IFRS 9 | Wholesale Lending Sector | POCI | Lifetime expected credit losses | Not collateralised | Loans and advances to customers and banks | Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 7 | $ 25 |
ECL coverage | 0.00% | 20.00% |
IFRS 9 | Wholesale Lending Sector | POCI | Lifetime expected credit losses | Not collateralised | Loans and advances to customers and banks | US | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
IFRS 9 | Wholesale Lending Sector | POCI | Lifetime expected credit losses | Fully collateralised | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 28 | $ 37 |
ECL coverage | 3.60% | 2.70% |
IFRS 9 | Wholesale Lending Sector | POCI | Lifetime expected credit losses | Fully collateralised | Loans and advances to customers and banks | UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
IFRS 9 | Wholesale Lending Sector | POCI | Lifetime expected credit losses | Fully collateralised | Loans and advances to customers and banks | Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 10 | $ 9 |
ECL coverage | 0.00% | 0.00% |
IFRS 9 | Wholesale Lending Sector | POCI | Lifetime expected credit losses | Fully collateralised | Loans and advances to customers and banks | US | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
IFRS 9 | Wholesale Lending Sector | POCI | Lifetime expected credit losses | Partially collateralised | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 97 | $ 49 |
ECL coverage | 33.00% | 63.30% |
IFRS 9 | Wholesale Lending Sector | POCI | Lifetime expected credit losses | Partially collateralised | Loans and advances to customers and banks | UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 57 | $ 8 |
ECL coverage | 1.80% | 0.00% |
IFRS 9 | Wholesale Lending Sector | POCI | Lifetime expected credit losses | Partially collateralised | Loans and advances to customers and banks | Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 31 | $ 35 |
ECL coverage | 90.30% | 85.70% |
IFRS 9 | Wholesale Lending Sector | POCI | Lifetime expected credit losses | Partially collateralised | Loans and advances to customers and banks | US | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
IFRS 9 | Wholesale Lending Sector | POCI | Lifetime expected credit losses | – less than 50% | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 2 | $ 1 |
ECL coverage | 50.00% | 0.00% |
IFRS 9 | Wholesale Lending Sector | POCI | Lifetime expected credit losses | – less than 50% | Loans and advances to customers and banks | UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
IFRS 9 | Wholesale Lending Sector | POCI | Lifetime expected credit losses | – less than 50% | Loans and advances to customers and banks | Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
IFRS 9 | Wholesale Lending Sector | POCI | Lifetime expected credit losses | – less than 50% | Loans and advances to customers and banks | US | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
IFRS 9 | Wholesale Lending Sector | POCI | Lifetime expected credit losses | – 51% to 75% | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 26 | $ 0 |
ECL coverage | 0.00% | 0.00% |
IFRS 9 | Wholesale Lending Sector | POCI | Lifetime expected credit losses | – 51% to 75% | Loans and advances to customers and banks | UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
IFRS 9 | Wholesale Lending Sector | POCI | Lifetime expected credit losses | – 51% to 75% | Loans and advances to customers and banks | Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 10 | $ 0 |
ECL coverage | 0.00% | 0.00% |
IFRS 9 | Wholesale Lending Sector | POCI | Lifetime expected credit losses | – 51% to 75% | Loans and advances to customers and banks | US | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
IFRS 9 | Wholesale Lending Sector | POCI | Lifetime expected credit losses | – 76% to 90% | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 22 |
ECL coverage | 0.00% | 0.00% |
IFRS 9 | Wholesale Lending Sector | POCI | Lifetime expected credit losses | – 76% to 90% | Loans and advances to customers and banks | UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
IFRS 9 | Wholesale Lending Sector | POCI | Lifetime expected credit losses | – 76% to 90% | Loans and advances to customers and banks | Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
IFRS 9 | Wholesale Lending Sector | POCI | Lifetime expected credit losses | – 76% to 90% | Loans and advances to customers and banks | US | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
IFRS 9 | Wholesale Lending Sector | POCI | Lifetime expected credit losses | – 91% to 100% | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 14 |
ECL coverage | 0.00% | 0.00% |
IFRS 9 | Wholesale Lending Sector | POCI | Lifetime expected credit losses | – 91% to 100% | Loans and advances to customers and banks | UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
IFRS 9 | Wholesale Lending Sector | POCI | Lifetime expected credit losses | – 91% to 100% | Loans and advances to customers and banks | Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 9 |
ECL coverage | 0.00% | 0.00% |
IFRS 9 | Wholesale Lending Sector | POCI | Lifetime expected credit losses | – 91% to 100% | Loans and advances to customers and banks | US | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Report Of The Directors Fina_16
Report Of The Directors Financial Review Risk Report - Wholesale lending: other corporate, commercial and financial (non-bank) loans and advances including loan commitments by level of collateral for key countries/territories (Details) - Wholesale Lending Sector - Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments - Loans and advances to customers and banks - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 11,434 | $ 11,242 |
ECL coverage | 31.30% | 33.70% |
Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 3,472 | $ 3,350 |
Collateral value | $ 152 | $ 84 |
ECL coverage | 5.20% | 4.20% |
Rated CRR/PD8 | Not collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 2,499 | $ 1,243 |
ECL coverage | 5.80% | 5.40% |
Rated CRR/PD8 | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 694 | $ 1,895 |
ECL coverage | 3.30% | 3.60% |
Rated CRR/PD8 | Partially collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 279 | $ 212 |
ECL coverage | 4.70% | 2.80% |
Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 7,962 | $ 7,892 |
Collateral value | $ 750 | $ 466 |
ECL coverage | 42.70% | 46.10% |
Rated CRR/PD9 to 10 | Not collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 4,991 | $ 5,199 |
ECL coverage | 48.50% | 53.20% |
Rated CRR/PD9 to 10 | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,507 | $ 1,719 |
ECL coverage | 22.00% | 24.80% |
Rated CRR/PD9 to 10 | Partially collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,464 | $ 974 |
ECL coverage | 44.00% | 46.10% |
UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 3,571 | $ 3,137 |
ECL coverage | 23.70% | 27.40% |
UK | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 720 | $ 662 |
Collateral value | $ 34 | $ 14 |
ECL coverage | 6.90% | 6.00% |
UK | Rated CRR/PD8 | Not collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 285 | $ 565 |
ECL coverage | 13.00% | 6.20% |
UK | Rated CRR/PD8 | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 382 | $ 74 |
ECL coverage | 2.60% | 4.10% |
UK | Rated CRR/PD8 | Partially collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 53 | $ 23 |
ECL coverage | 5.70% | 4.30% |
UK | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 2,851 | $ 2,475 |
Collateral value | $ 211 | $ 116 |
ECL coverage | 27.90% | 33.20% |
UK | Rated CRR/PD9 to 10 | Not collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,930 | $ 1,775 |
ECL coverage | 34.10% | 42.10% |
UK | Rated CRR/PD9 to 10 | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 494 | $ 513 |
ECL coverage | 12.60% | 6.20% |
UK | Rated CRR/PD9 to 10 | Partially collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 427 | $ 187 |
ECL coverage | 17.60% | 21.90% |
Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 808 | $ 1,109 |
ECL coverage | 63.40% | 41.30% |
Hong Kong | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 83 | $ 258 |
Collateral value | $ 6 | $ 49 |
ECL coverage | 12.00% | 3.90% |
Hong Kong | Rated CRR/PD8 | Not collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 10 | $ 94 |
ECL coverage | 70.00% | 7.40% |
Hong Kong | Rated CRR/PD8 | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 11 |
ECL coverage | 0.00% | 9.10% |
Hong Kong | Rated CRR/PD8 | Partially collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 73 | $ 153 |
ECL coverage | 2.70% | 1.30% |
Hong Kong | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 725 | $ 851 |
Collateral value | $ 64 | $ 73 |
ECL coverage | 69.20% | 52.60% |
Hong Kong | Rated CRR/PD9 to 10 | Not collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 510 | $ 503 |
ECL coverage | 82.50% | 78.10% |
Hong Kong | Rated CRR/PD9 to 10 | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 96 | $ 155 |
ECL coverage | 11.50% | 0.00% |
Hong Kong | Rated CRR/PD9 to 10 | Partially collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 119 | $ 193 |
ECL coverage | 58.80% | 28.00% |
US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 2,185 | $ 2,011 |
ECL coverage | 4.50% | 4.20% |
US | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,877 | $ 1,812 |
Collateral value | $ 39 | $ 0 |
ECL coverage | 3.00% | 3.40% |
US | Rated CRR/PD8 | Not collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,645 | $ 191 |
ECL coverage | 3.30% | 5.20% |
US | Rated CRR/PD8 | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 166 | $ 1,621 |
ECL coverage | 1.20% | 3.10% |
US | Rated CRR/PD8 | Partially collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 66 | $ 0 |
ECL coverage | 3.00% | 0.00% |
US | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 308 | $ 199 |
Collateral value | $ 65 | $ 2 |
ECL coverage | 13.60% | 11.10% |
US | Rated CRR/PD9 to 10 | Not collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 2 | $ 6 |
ECL coverage | 50.00% | 16.70% |
US | Rated CRR/PD9 to 10 | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 214 | $ 188 |
ECL coverage | 0.00% | 9.60% |
US | Rated CRR/PD9 to 10 | Partially collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 92 | $ 5 |
ECL coverage | 44.60% | 60.00% |
– LTV ratio: less than 50% | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 246 | $ 693 |
ECL coverage | 2.80% | 4.20% |
– LTV ratio: less than 50% | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 338 | $ 608 |
ECL coverage | 35.20% | 36.00% |
– LTV ratio: less than 50% | UK | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 120 | $ 21 |
ECL coverage | 1.70% | 4.80% |
– LTV ratio: less than 50% | UK | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 103 | $ 181 |
ECL coverage | 17.50% | 7.70% |
– LTV ratio: less than 50% | Hong Kong | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
– LTV ratio: less than 50% | Hong Kong | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 10 | $ 11 |
ECL coverage | 0.00% | 0.00% |
– LTV ratio: less than 50% | US | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 85 | $ 594 |
ECL coverage | 1.20% | 4.20% |
– LTV ratio: less than 50% | US | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 2 | $ 77 |
ECL coverage | 0.00% | 22.10% |
– 51% to 75% | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 189 | $ 292 |
ECL coverage | 4.20% | 2.70% |
– 51% to 75% | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 377 | $ 503 |
ECL coverage | 22.80% | 8.70% |
– 51% to 75% | UK | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 93 | $ 49 |
ECL coverage | 3.20% | 2.00% |
– 51% to 75% | UK | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 198 | $ 172 |
ECL coverage | 8.60% | 1.70% |
– 51% to 75% | Hong Kong | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 11 |
ECL coverage | 0.00% | 9.10% |
– 51% to 75% | Hong Kong | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 30 | $ 62 |
ECL coverage | 3.30% | 0.00% |
– 51% to 75% | US | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 18 | $ 169 |
ECL coverage | 0.00% | 2.40% |
– 51% to 75% | US | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 103 |
ECL coverage | 0.00% | 1.00% |
– 76% to 90% | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 97 | $ 45 |
ECL coverage | 2.10% | 15.60% |
– 76% to 90% | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 373 | $ 405 |
ECL coverage | 23.60% | 24.20% |
– 76% to 90% | UK | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 42 | $ 2 |
ECL coverage | 2.40% | 0.00% |
– 76% to 90% | UK | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 101 | $ 86 |
ECL coverage | 20.80% | 10.50% |
– 76% to 90% | Hong Kong | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
– 76% to 90% | Hong Kong | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 40 | $ 32 |
ECL coverage | 7.50% | 0.00% |
– 76% to 90% | US | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 45 | $ 20 |
ECL coverage | 2.20% | 0.00% |
– 76% to 90% | US | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
– 91% to 100% | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 162 | $ 865 |
ECL coverage | 3.70% | 2.80% |
– 91% to 100% | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 419 | $ 203 |
ECL coverage | 9.10% | 31.50% |
– 91% to 100% | UK | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 127 | $ 2 |
ECL coverage | 3.90% | 0.00% |
– 91% to 100% | UK | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 92 | $ 74 |
ECL coverage | 7.60% | 8.10% |
– 91% to 100% | Hong Kong | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
– 91% to 100% | Hong Kong | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 16 | $ 50 |
ECL coverage | 0.00% | 0.00% |
– 91% to 100% | US | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 18 | $ 838 |
ECL coverage | 0.00% | 0.00% |
– 91% to 100% | US | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 212 | $ 8 |
ECL coverage | 0.00% | 0.00% |
Report Of The Directors Fina_17
Report Of The Directors Financial Review Risk Report - Personal lending: reconciliation of changes in gross carrying/nominal amount and allowances for loans and advances to banks and customers including loan commitments and financial guarantees (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | $ 2,471,203 | |
Financial assets, ending balance | 2,621,427 | $ 2,471,203 |
Gross carrying amount | IFRS 9 | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 1,645,418 | |
Financial assets, ending balance | 1,729,873 | 1,645,418 |
Allowance for ECL | IFRS 9 | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (8,693) | |
Financial assets, ending balance | (8,866) | (8,693) |
Personal Lending Sector | Gross carrying amount | Loans and advances to customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 602,615 | 571,880 |
Net new lending and further lending/payments | 47,840 | 49,820 |
Assets written off | (1,345) | (1,386) |
Foreign exchange and other | 9,279 | (17,699) |
Financial assets, ending balance | 658,389 | 602,615 |
Personal Lending Sector | Gross carrying amount | 12-month expected credit losses | Financial instruments not credit-impaired | Loans and advances to customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 580,784 | 549,328 |
Transfers of financial instruments | (4,751) | (4,270) |
Net new lending and further lending/payments | 50,946 | 52,761 |
Foreign exchange and other | 8,982 | (17,035) |
Financial assets, ending balance | 635,961 | 580,784 |
Personal Lending Sector | Gross carrying amount | Lifetime expected credit losses | Financial instruments not credit-impaired | Loans and advances to customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 16,838 | 17,678 |
Transfers of financial instruments | 2,645 | 2,047 |
Net new lending and further lending/payments | (2,348) | (2,453) |
Foreign exchange and other | 247 | (434) |
Financial assets, ending balance | 17,382 | 16,838 |
Personal Lending Sector | Gross carrying amount | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Loans and advances to customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 4,993 | 4,874 |
Transfers of financial instruments | 2,106 | 2,223 |
Net new lending and further lending/payments | (758) | (488) |
Assets written off | (1,345) | (1,386) |
Foreign exchange and other | 50 | (230) |
Financial assets, ending balance | 5,046 | 4,993 |
Personal Lending Sector | Allowance for ECL | Loans and advances to customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (2,961) | (3,065) |
Net remeasurement of ECL arising from transfer of stage | (38) | (27) |
Net new lending and further lending/payments | 737 | 308 |
Changes to risk parameters – credit quality | (2,305) | (1,717) |
Changes to models used for ECL calculation | 68 | |
Assets written off | 1,345 | 1,380 |
Foreign exchange and other | 4 | 160 |
Financial assets, ending balance | (3,150) | (2,961) |
ECL income statement change for the period | (1,538) | (1,436) |
Recoveries | 314 | 290 |
Others | 4 | (18) |
Total ECL income statement change for the period | (1,220) | (1,164) |
Personal Lending Sector | Allowance for ECL | 12-month expected credit losses | Financial instruments not credit-impaired | Loans and advances to customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (547) | (596) |
Transfers of financial instruments | (374) | (411) |
Net remeasurement of ECL arising from transfer of stage | 446 | 358 |
Net new lending and further lending/payments | 3 | (241) |
Changes to risk parameters – credit quality | (100) | 266 |
Changes to models used for ECL calculation | (6) | |
Foreign exchange and other | (19) | 77 |
Financial assets, ending balance | (597) | (547) |
ECL income statement change for the period | 343 | 383 |
Personal Lending Sector | Allowance for ECL | Lifetime expected credit losses | Financial instruments not credit-impaired | Loans and advances to customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (1,266) | (1,157) |
Transfers of financial instruments | 858 | 799 |
Net remeasurement of ECL arising from transfer of stage | (408) | (374) |
Net new lending and further lending/payments | 453 | 222 |
Changes to risk parameters – credit quality | (1,015) | (786) |
Changes to models used for ECL calculation | 60 | |
Foreign exchange and other | (20) | 30 |
Financial assets, ending balance | (1,338) | (1,266) |
ECL income statement change for the period | (910) | (938) |
Personal Lending Sector | Allowance for ECL | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Loans and advances to customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (1,148) | (1,312) |
Transfers of financial instruments | (484) | (388) |
Net remeasurement of ECL arising from transfer of stage | (76) | (11) |
Net new lending and further lending/payments | 281 | 327 |
Changes to risk parameters – credit quality | (1,190) | (1,197) |
Changes to models used for ECL calculation | 14 | |
Assets written off | 1,345 | 1,380 |
Foreign exchange and other | 43 | 53 |
Financial assets, ending balance | (1,215) | (1,148) |
ECL income statement change for the period | $ (971) | $ (881) |
Report Of The Directors Fina_18
Report Of The Directors Financial Review Risk Report - Personal lending: residential mortgage loans including loan commitments by level of collateral for key countries/territories (by stage) (Details) - Personal Lending Sector - Loans and advances to customers - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 338,153 | $ 309,733 |
ECL coverage | 0.20% | 0.20% |
UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 147,264 | $ 133,553 |
ECL coverage | 0.10% | 0.10% |
Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 87,494 | $ 80,373 |
ECL coverage | 0.00% | 0.00% |
US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 17,870 | $ 17,466 |
ECL coverage | 0.10% | 0.10% |
Financial instruments not credit-impaired | 12-month expected credit losses | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 327,894 | $ 300,492 |
Collateral value | $ 1,232 | $ 1,266 |
ECL coverage | 0.00% | 0.00% |
Financial instruments not credit-impaired | 12-month expected credit losses | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 144,098 | $ 131,227 |
Collateral value | $ 232 | $ 493 |
ECL coverage | 0.00% | 0.00% |
Financial instruments not credit-impaired | 12-month expected credit losses | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 86,333 | $ 79,480 |
Collateral value | $ 279 | $ 284 |
ECL coverage | 0.00% | 0.00% |
Financial instruments not credit-impaired | 12-month expected credit losses | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 16,084 | $ 15,331 |
Collateral value | $ 5 | $ 8 |
ECL coverage | 0.00% | 0.00% |
Financial instruments not credit-impaired | 12-month expected credit losses | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 326,510 | $ 299,072 |
ECL coverage | 0.00% | 0.00% |
Financial instruments not credit-impaired | 12-month expected credit losses | Fully collateralised | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 143,772 | $ 130,646 |
ECL coverage | 0.00% | 0.00% |
Financial instruments not credit-impaired | 12-month expected credit losses | Fully collateralised | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 86,049 | $ 79,180 |
ECL coverage | 0.00% | 0.00% |
Financial instruments not credit-impaired | 12-month expected credit losses | Fully collateralised | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 16,079 | $ 15,321 |
ECL coverage | 0.00% | 0.00% |
Financial instruments not credit-impaired | 12-month expected credit losses | Partially collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,384 | $ 1,420 |
ECL coverage | 0.10% | 0.10% |
Financial instruments not credit-impaired | 12-month expected credit losses | Partially collateralised | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 326 | $ 581 |
ECL coverage | 0.00% | 0.00% |
Financial instruments not credit-impaired | 12-month expected credit losses | Partially collateralised | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 284 | $ 300 |
ECL coverage | 0.00% | 0.00% |
Financial instruments not credit-impaired | 12-month expected credit losses | Partially collateralised | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 5 | $ 10 |
ECL coverage | 0.00% | 0.00% |
Financial instruments not credit-impaired | 12-month expected credit losses | – LTV ratio: less than 50% | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 168,923 | $ 160,563 |
ECL coverage | 0.00% | 0.00% |
Financial instruments not credit-impaired | 12-month expected credit losses | – LTV ratio: less than 50% | Fully collateralised | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 70,315 | $ 66,834 |
ECL coverage | 0.00% | 0.00% |
Financial instruments not credit-impaired | 12-month expected credit losses | – LTV ratio: less than 50% | Fully collateralised | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 57,043 | $ 54,262 |
ECL coverage | 0.00% | 0.00% |
Financial instruments not credit-impaired | 12-month expected credit losses | – LTV ratio: less than 50% | Fully collateralised | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 8,170 | $ 8,060 |
ECL coverage | 0.00% | 0.00% |
Financial instruments not credit-impaired | 12-month expected credit losses | – 51% to 60% | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 55,287 | $ 51,415 |
ECL coverage | 0.00% | 0.00% |
Financial instruments not credit-impaired | 12-month expected credit losses | – 51% to 60% | Fully collateralised | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 21,898 | $ 20,937 |
ECL coverage | 0.00% | 0.00% |
Financial instruments not credit-impaired | 12-month expected credit losses | – 51% to 60% | Fully collateralised | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 13,169 | $ 11,591 |
ECL coverage | 0.00% | 0.00% |
Financial instruments not credit-impaired | 12-month expected credit losses | – 51% to 60% | Fully collateralised | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 3,330 | $ 3,382 |
ECL coverage | 0.00% | 0.00% |
Financial instruments not credit-impaired | 12-month expected credit losses | – 61% to 70% | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 44,208 | $ 40,273 |
ECL coverage | 0.00% | 0.00% |
Financial instruments not credit-impaired | 12-month expected credit losses | – 61% to 70% | Fully collateralised | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 19,903 | $ 17,480 |
ECL coverage | 0.00% | 0.00% |
Financial instruments not credit-impaired | 12-month expected credit losses | – 61% to 70% | Fully collateralised | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 6,478 | $ 5,979 |
ECL coverage | 0.00% | 0.00% |
Financial instruments not credit-impaired | 12-month expected credit losses | – 61% to 70% | Fully collateralised | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 2,702 | $ 2,473 |
ECL coverage | 0.00% | 0.00% |
Financial instruments not credit-impaired | 12-month expected credit losses | – 71% to 80% | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 33,049 | $ 28,383 |
ECL coverage | 0.00% | 0.00% |
Financial instruments not credit-impaired | 12-month expected credit losses | – 71% to 80% | Fully collateralised | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 17,649 | $ 15,086 |
ECL coverage | 0.00% | 0.00% |
Financial instruments not credit-impaired | 12-month expected credit losses | – 71% to 80% | Fully collateralised | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 3,195 | $ 2,986 |
ECL coverage | 0.00% | 0.00% |
Financial instruments not credit-impaired | 12-month expected credit losses | – 71% to 80% | Fully collateralised | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,610 | $ 1,113 |
ECL coverage | 0.00% | 0.00% |
Financial instruments not credit-impaired | 12-month expected credit losses | – 81% to 90% | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 18,157 | $ 14,191 |
ECL coverage | 0.00% | 0.00% |
Financial instruments not credit-impaired | 12-month expected credit losses | – 81% to 90% | Fully collateralised | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 11,127 | $ 8,824 |
ECL coverage | 0.00% | 0.00% |
Financial instruments not credit-impaired | 12-month expected credit losses | – 81% to 90% | Fully collateralised | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 3,685 | $ 2,637 |
ECL coverage | 0.00% | 0.00% |
Financial instruments not credit-impaired | 12-month expected credit losses | – 81% to 90% | Fully collateralised | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 198 | $ 158 |
ECL coverage | 0.00% | 0.00% |
Financial instruments not credit-impaired | 12-month expected credit losses | – 91% to 100% | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 6,886 | $ 4,247 |
ECL coverage | 0.00% | 0.10% |
Financial instruments not credit-impaired | 12-month expected credit losses | – 91% to 100% | Fully collateralised | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 2,880 | $ 1,485 |
ECL coverage | 0.00% | 0.00% |
Financial instruments not credit-impaired | 12-month expected credit losses | – 91% to 100% | Fully collateralised | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 2,479 | $ 1,725 |
ECL coverage | 0.00% | 0.00% |
Financial instruments not credit-impaired | 12-month expected credit losses | – 91% to 100% | Fully collateralised | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 69 | $ 135 |
ECL coverage | 0.00% | 0.00% |
Financial instruments not credit-impaired | 12-month expected credit losses | – 101% to 110% | Partially collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 843 | $ 808 |
ECL coverage | 0.10% | 0.10% |
Financial instruments not credit-impaired | 12-month expected credit losses | – 101% to 110% | Partially collateralised | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 89 | $ 334 |
ECL coverage | 0.00% | 0.00% |
Financial instruments not credit-impaired | 12-month expected credit losses | – 101% to 110% | Partially collateralised | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 281 | $ 256 |
ECL coverage | 0.00% | 0.00% |
Financial instruments not credit-impaired | 12-month expected credit losses | – 101% to 110% | Partially collateralised | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 3 | $ 5 |
ECL coverage | 0.00% | 0.00% |
Financial instruments not credit-impaired | 12-month expected credit losses | – 111% to 120% | Partially collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 195 | $ 184 |
ECL coverage | 0.20% | 0.20% |
Financial instruments not credit-impaired | 12-month expected credit losses | – 111% to 120% | Partially collateralised | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 48 | $ 46 |
ECL coverage | 0.00% | 0.00% |
Financial instruments not credit-impaired | 12-month expected credit losses | – 111% to 120% | Partially collateralised | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1 | $ 41 |
ECL coverage | 0.00% | 0.00% |
Financial instruments not credit-impaired | 12-month expected credit losses | – 111% to 120% | Partially collateralised | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1 | $ 2 |
ECL coverage | 0.00% | 0.00% |
Financial instruments not credit-impaired | 12-month expected credit losses | – greater than 120% | Partially collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 346 | $ 428 |
ECL coverage | 0.10% | 0.20% |
Financial instruments not credit-impaired | 12-month expected credit losses | – greater than 120% | Partially collateralised | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 189 | $ 201 |
ECL coverage | 0.00% | 0.00% |
Financial instruments not credit-impaired | 12-month expected credit losses | – greater than 120% | Partially collateralised | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 2 | $ 3 |
ECL coverage | 0.00% | 0.00% |
Financial instruments not credit-impaired | 12-month expected credit losses | – greater than 120% | Partially collateralised | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1 | $ 3 |
ECL coverage | 0.00% | 0.00% |
Financial instruments not credit-impaired | Lifetime expected credit losses | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 7,163 | $ 6,293 |
Collateral value | $ 69 | $ 118 |
ECL coverage | 1.00% | 1.00% |
Financial instruments not credit-impaired | Lifetime expected credit losses | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,964 | $ 1,280 |
Collateral value | $ 20 | $ 44 |
ECL coverage | 1.00% | 1.30% |
Financial instruments not credit-impaired | Lifetime expected credit losses | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,117 | $ 868 |
Collateral value | $ 1 | $ 1 |
ECL coverage | 0.00% | 0.00% |
Financial instruments not credit-impaired | Lifetime expected credit losses | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,078 | $ 1,440 |
Collateral value | $ 3 | $ 4 |
ECL coverage | 0.30% | 0.30% |
Financial instruments not credit-impaired | Lifetime expected credit losses | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 7,087 | $ 6,170 |
ECL coverage | 0.90% | 1.00% |
Financial instruments not credit-impaired | Lifetime expected credit losses | Fully collateralised | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,941 | $ 1,234 |
ECL coverage | 1.00% | 1.30% |
Financial instruments not credit-impaired | Lifetime expected credit losses | Fully collateralised | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,116 | $ 867 |
ECL coverage | 0.00% | 0.00% |
Financial instruments not credit-impaired | Lifetime expected credit losses | Fully collateralised | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,074 | $ 1,435 |
ECL coverage | 0.30% | 0.30% |
Financial instruments not credit-impaired | Lifetime expected credit losses | Partially collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 76 | $ 123 |
ECL coverage | 7.20% | 2.90% |
Financial instruments not credit-impaired | Lifetime expected credit losses | Partially collateralised | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 23 | $ 46 |
ECL coverage | 1.80% | 0.20% |
Financial instruments not credit-impaired | Lifetime expected credit losses | Partially collateralised | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1 | $ 1 |
ECL coverage | 0.00% | 0.00% |
Financial instruments not credit-impaired | Lifetime expected credit losses | Partially collateralised | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 4 | $ 5 |
ECL coverage | 0.00% | 0.30% |
Financial instruments not credit-impaired | Lifetime expected credit losses | – LTV ratio: less than 50% | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 3,781 | $ 3,334 |
ECL coverage | 0.50% | 0.70% |
Financial instruments not credit-impaired | Lifetime expected credit losses | – LTV ratio: less than 50% | Fully collateralised | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,146 | $ 917 |
ECL coverage | 0.70% | 0.90% |
Financial instruments not credit-impaired | Lifetime expected credit losses | – LTV ratio: less than 50% | Fully collateralised | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 892 | $ 699 |
ECL coverage | 0.00% | 0.00% |
Financial instruments not credit-impaired | Lifetime expected credit losses | – LTV ratio: less than 50% | Fully collateralised | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 680 | $ 814 |
ECL coverage | 0.20% | 0.10% |
Financial instruments not credit-impaired | Lifetime expected credit losses | – 51% to 60% | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 923 | $ 932 |
ECL coverage | 1.10% | 1.10% |
Financial instruments not credit-impaired | Lifetime expected credit losses | – 51% to 60% | Fully collateralised | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 233 | $ 113 |
ECL coverage | 1.50% | 3.00% |
Financial instruments not credit-impaired | Lifetime expected credit losses | – 51% to 60% | Fully collateralised | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 95 | $ 74 |
ECL coverage | 0.00% | 0.00% |
Financial instruments not credit-impaired | Lifetime expected credit losses | – 51% to 60% | Fully collateralised | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 184 | $ 268 |
ECL coverage | 0.30% | 0.40% |
Financial instruments not credit-impaired | Lifetime expected credit losses | – 61% to 70% | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 909 | $ 853 |
ECL coverage | 1.20% | 1.00% |
Financial instruments not credit-impaired | Lifetime expected credit losses | – 61% to 70% | Fully collateralised | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 262 | $ 105 |
ECL coverage | 1.20% | 2.20% |
Financial instruments not credit-impaired | Lifetime expected credit losses | – 61% to 70% | Fully collateralised | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 59 | $ 43 |
ECL coverage | 0.00% | 0.00% |
Financial instruments not credit-impaired | Lifetime expected credit losses | – 61% to 70% | Fully collateralised | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 130 | $ 231 |
ECL coverage | 0.60% | 0.30% |
Financial instruments not credit-impaired | Lifetime expected credit losses | – 71% to 80% | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 894 | $ 586 |
ECL coverage | 1.10% | 1.30% |
Financial instruments not credit-impaired | Lifetime expected credit losses | – 71% to 80% | Fully collateralised | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 231 | $ 39 |
ECL coverage | 1.00% | 3.40% |
Financial instruments not credit-impaired | Lifetime expected credit losses | – 71% to 80% | Fully collateralised | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 32 | $ 28 |
ECL coverage | 0.00% | 0.00% |
Financial instruments not credit-impaired | Lifetime expected credit losses | – 71% to 80% | Fully collateralised | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 53 | $ 79 |
ECL coverage | 1.30% | 0.90% |
Financial instruments not credit-impaired | Lifetime expected credit losses | – 81% to 90% | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 425 | $ 331 |
ECL coverage | 1.60% | 1.70% |
Financial instruments not credit-impaired | Lifetime expected credit losses | – 81% to 90% | Fully collateralised | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 36 | $ 27 |
ECL coverage | 2.90% | 3.10% |
Financial instruments not credit-impaired | Lifetime expected credit losses | – 81% to 90% | Fully collateralised | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 25 | $ 20 |
ECL coverage | 0.00% | 0.00% |
Financial instruments not credit-impaired | Lifetime expected credit losses | – 81% to 90% | Fully collateralised | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 17 | $ 32 |
ECL coverage | 2.70% | 1.60% |
Financial instruments not credit-impaired | Lifetime expected credit losses | – 91% to 100% | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 155 | $ 134 |
ECL coverage | 4.40% | 2.40% |
Financial instruments not credit-impaired | Lifetime expected credit losses | – 91% to 100% | Fully collateralised | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 33 | $ 33 |
ECL coverage | 1.80% | 1.50% |
Financial instruments not credit-impaired | Lifetime expected credit losses | – 91% to 100% | Fully collateralised | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 13 | $ 3 |
ECL coverage | 0.00% | 0.00% |
Financial instruments not credit-impaired | Lifetime expected credit losses | – 91% to 100% | Fully collateralised | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 10 | $ 11 |
ECL coverage | 1.10% | 0.80% |
Financial instruments not credit-impaired | Lifetime expected credit losses | – 101% to 110% | Partially collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 45 | $ 76 |
ECL coverage | 5.40% | 1.50% |
Financial instruments not credit-impaired | Lifetime expected credit losses | – 101% to 110% | Partially collateralised | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 20 | $ 44 |
ECL coverage | 1.50% | 0.10% |
Financial instruments not credit-impaired | Lifetime expected credit losses | – 101% to 110% | Partially collateralised | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1 | $ 1 |
ECL coverage | 0.00% | 0.00% |
Financial instruments not credit-impaired | Lifetime expected credit losses | – 101% to 110% | Partially collateralised | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 2 | $ 3 |
ECL coverage | 0.00% | 0.50% |
Financial instruments not credit-impaired | Lifetime expected credit losses | – 111% to 120% | Partially collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 10 | $ 17 |
ECL coverage | 11.10% | 4.50% |
Financial instruments not credit-impaired | Lifetime expected credit losses | – 111% to 120% | Partially collateralised | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1 | $ 1 |
ECL coverage | 4.80% | 4.30% |
Financial instruments not credit-impaired | Lifetime expected credit losses | – 111% to 120% | Partially collateralised | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Financial instruments not credit-impaired | Lifetime expected credit losses | – 111% to 120% | Partially collateralised | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1 | $ 1 |
ECL coverage | 0.00% | 0.00% |
Financial instruments not credit-impaired | Lifetime expected credit losses | – greater than 120% | Partially collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 21 | $ 30 |
ECL coverage | 9.00% | 5.30% |
Financial instruments not credit-impaired | Lifetime expected credit losses | – greater than 120% | Partially collateralised | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 2 | $ 1 |
ECL coverage | 3.00% | 0.60% |
Financial instruments not credit-impaired | Lifetime expected credit losses | – greater than 120% | Partially collateralised | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Financial instruments not credit-impaired | Lifetime expected credit losses | – greater than 120% | Partially collateralised | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1 | $ 1 |
ECL coverage | 0.00% | 0.00% |
Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 3,096 | $ 2,948 |
Collateral value | $ 305 | $ 372 |
ECL coverage | 13.70% | 15.10% |
Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,202 | $ 1,046 |
Collateral value | $ 24 | $ 20 |
ECL coverage | 10.30% | 11.00% |
Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 44 | $ 25 |
Collateral value | $ 0 | $ 0 |
ECL coverage | 0.50% | 0.90% |
Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 708 | $ 695 |
Collateral value | $ 13 | $ 22 |
ECL coverage | 0.70% | 1.00% |
Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 2,725 | $ 2,557 |
ECL coverage | 9.00% | 12.30% |
Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | Fully collateralised | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,177 | $ 1,023 |
ECL coverage | 9.90% | 10.90% |
Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | Fully collateralised | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 44 | $ 25 |
ECL coverage | 0.50% | 0.90% |
Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | Fully collateralised | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 695 | $ 671 |
ECL coverage | 0.70% | 1.00% |
Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | Partially collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 371 | $ 391 |
ECL coverage | 47.60% | 33.60% |
Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | Partially collateralised | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 25 | $ 23 |
ECL coverage | 27.30% | 15.80% |
Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | Partially collateralised | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | Partially collateralised | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 13 | $ 24 |
ECL coverage | 0.20% | 0.40% |
Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | – LTV ratio: less than 50% | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,337 | $ 1,255 |
ECL coverage | 7.10% | 13.60% |
Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | – LTV ratio: less than 50% | Fully collateralised | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 711 | $ 638 |
ECL coverage | 7.80% | 7.80% |
Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | – LTV ratio: less than 50% | Fully collateralised | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 39 | $ 24 |
ECL coverage | 0.50% | 0.90% |
Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | – LTV ratio: less than 50% | Fully collateralised | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 279 | $ 219 |
ECL coverage | 0.70% | 0.90% |
Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | – 51% to 60% | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 410 | $ 359 |
ECL coverage | 7.00% | 8.30% |
Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | – 51% to 60% | Fully collateralised | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 159 | $ 151 |
ECL coverage | 10.00% | 11.30% |
Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | – 51% to 60% | Fully collateralised | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 3 | $ 1 |
ECL coverage | 0.20% | 0.00% |
Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | – 51% to 60% | Fully collateralised | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 126 | $ 107 |
ECL coverage | 0.80% | 0.90% |
Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | – 61% to 70% | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 358 | $ 336 |
ECL coverage | 7.90% | 12.00% |
Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | – 61% to 70% | Fully collateralised | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 136 | $ 119 |
ECL coverage | 10.60% | 18.40% |
Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | – 61% to 70% | Fully collateralised | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | – 61% to 70% | Fully collateralised | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 125 | $ 105 |
ECL coverage | 0.80% | 1.00% |
Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | – 71% to 80% | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 309 | $ 280 |
ECL coverage | 13.40% | 9.90% |
Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | – 71% to 80% | Fully collateralised | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 100 | $ 70 |
ECL coverage | 18.90% | 14.80% |
Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | – 71% to 80% | Fully collateralised | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | – 71% to 80% | Fully collateralised | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 93 | $ 114 |
ECL coverage | 1.10% | 0.90% |
Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | – 81% to 90% | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 178 | $ 190 |
ECL coverage | 13.80% | 9.40% |
Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | – 81% to 90% | Fully collateralised | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 47 | $ 33 |
ECL coverage | 12.30% | 19.40% |
Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | – 81% to 90% | Fully collateralised | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | – 81% to 90% | Fully collateralised | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 51 | $ 81 |
ECL coverage | 0.00% | 1.20% |
Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | – 91% to 100% | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 133 | $ 137 |
ECL coverage | 21.80% | 19.80% |
Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | – 91% to 100% | Fully collateralised | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 24 | $ 12 |
ECL coverage | 26.30% | 45.90% |
Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | – 91% to 100% | Fully collateralised | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | – 91% to 100% | Fully collateralised | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 21 | $ 45 |
ECL coverage | 0.00% | 2.20% |
Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | – 101% to 110% | Partially collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 97 | $ 73 |
ECL coverage | 36.40% | 17.40% |
Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | – 101% to 110% | Partially collateralised | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 11 | $ 10 |
ECL coverage | 19.10% | 14.30% |
Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | – 101% to 110% | Partially collateralised | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | – 101% to 110% | Partially collateralised | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 7 | $ 14 |
ECL coverage | 0.30% | 0.60% |
Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | – 111% to 120% | Partially collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 62 | $ 68 |
ECL coverage | 37.80% | 24.20% |
Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | – 111% to 120% | Partially collateralised | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 6 | $ 5 |
ECL coverage | 22.70% | 26.40% |
Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | – 111% to 120% | Partially collateralised | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | – 111% to 120% | Partially collateralised | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 2 | $ 6 |
ECL coverage | 0.30% | 0.30% |
Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | – greater than 120% | Partially collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 212 | $ 250 |
ECL coverage | 55.60% | 40.80% |
Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | – greater than 120% | Partially collateralised | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 8 | $ 8 |
ECL coverage | 42.00% | 11.10% |
Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | – greater than 120% | Partially collateralised | Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Financial instruments credit-impaired after purchase or origination | Lifetime expected credit losses | – greater than 120% | Partially collateralised | US | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 4 | $ 4 |
ECL coverage | 0.00% | 0.20% |
Report Of The Directors Fina_19
Report Of The Directors Financial Review Risk Report - HSBC Holdings (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Derivatives | ||
Disclosure of offsetting of financial assets [line items] | ||
Amounts offset | $ 41,739 | $ 49,711 |
HSBC Holdings | ||
Disclosure of offsetting of financial assets [line items] | ||
Percentage of credit risk exposure being neither past due nor impaired | 100.00% | 100.00% |
HSBC Holdings | Derivatives | ||
Disclosure of offsetting of financial assets [line items] | ||
Amounts offset | $ 100 | $ 1,500 |
Report Of The Directors Fina_20
Report Of The Directors Financial Review Risk Report - Capital Risk Management (Details) - USD ($) $ in Billions | 12 Months Ended | |||
Dec. 31, 2022 | Jan. 01, 2022 | Dec. 31, 2019 | Dec. 31, 2018 | |
Report Of The Directors Financial Review Risk Report [Abstract] | ||||
CET1 ratio | 14.70% | 14.00% | ||
Leverage ratio | 5.30% | |||
Forecast | Subsequent Event | Basel Package | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Term of transitional provision | 5 years | |||
Output floor percentage | 72.50% | |||
HSBC Holdings | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Substantial portfolio of high-quality liquid assets (in excess of) | $ 14 | |||
Bottom of range | Forecast | Subsequent Event | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Estimated rise in pre-mitigation RWAs as a result of regulatory changes | 5.00% | |||
Top of range | Forecast | Subsequent Event | ||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||||
Estimated rise in pre-mitigation RWAs as a result of regulatory changes | 10.00% |
Report Of The Directors Fina_21
Report Of The Directors Financial Review Risk Report - Sources of funding and uses (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Schedule of Funding Sources And Funding Uses [Line Items] | |||
Equity and liabilities | $ 2,715,152 | $ 2,558,124 | |
Total assets | 2,715,152 | 2,558,124 | $ 2,521,771 |
Loans and advances to customers | |||
Schedule of Funding Sources And Funding Uses [Line Items] | |||
Funding uses | 1,036,743 | 981,696 | |
Loans and advances to banks | |||
Schedule of Funding Sources And Funding Uses [Line Items] | |||
Funding uses | 69,203 | 72,167 | |
Reverse repurchase agreements – non-trading | |||
Schedule of Funding Sources And Funding Uses [Line Items] | |||
Funding uses | 240,862 | 242,804 | |
Prepayments, accrued income and other assets | |||
Schedule of Funding Sources And Funding Uses [Line Items] | |||
Funding uses | 63,891 | 47,159 | |
Prepayments, accrued income and other assets | Cash collateral, margin and settlement accounts | |||
Schedule of Funding Sources And Funding Uses [Line Items] | |||
Funding uses | 63,891 | 47,159 | |
Assets held for sale | |||
Schedule of Funding Sources And Funding Uses [Line Items] | |||
Funding uses | 123 | 735 | |
Trading | |||
Schedule of Funding Sources And Funding Uses [Line Items] | |||
Funding uses | 254,271 | 238,130 | |
Trading | Reverse repos | |||
Schedule of Funding Sources And Funding Uses [Line Items] | |||
Funding uses | 13,659 | 9,893 | |
Trading | Stock borrowing | |||
Schedule of Funding Sources And Funding Uses [Line Items] | |||
Funding uses | 7,691 | 8,387 | |
Trading | Other trading assets | |||
Schedule of Funding Sources And Funding Uses [Line Items] | |||
Funding uses | 232,921 | 219,850 | |
Financial investments | |||
Schedule of Funding Sources And Funding Uses [Line Items] | |||
Funding uses | 443,312 | 407,433 | |
Cash and balances at central banks | |||
Schedule of Funding Sources And Funding Uses [Line Items] | |||
Funding uses | 154,099 | 162,843 | |
Other balance sheet assets | |||
Schedule of Funding Sources And Funding Uses [Line Items] | |||
Funding uses | 452,648 | 405,157 | |
Customer accounts | |||
Schedule of Funding Sources And Funding Uses [Line Items] | |||
Funded amount | 1,439,115 | 1,362,643 | |
Deposits by banks | |||
Schedule of Funding Sources And Funding Uses [Line Items] | |||
Funded amount | 59,022 | 56,331 | |
Repurchase agreements, non-trading | |||
Schedule of Funding Sources And Funding Uses [Line Items] | |||
Funded amount | 140,344 | 165,884 | |
Debt securities | |||
Schedule of Funding Sources And Funding Uses [Line Items] | |||
Funded amount | 104,555 | 85,342 | |
Accruals, deferred income and other liabilities | Cash collateral, margin and settlement accounts | |||
Schedule of Funding Sources And Funding Uses [Line Items] | |||
Funded amount | 71,002 | 54,066 | |
Liabilities of disposal groups held for sale | |||
Schedule of Funding Sources And Funding Uses [Line Items] | |||
Funded amount | 0 | 313 | |
Subordinated liabilities | |||
Schedule of Funding Sources And Funding Uses [Line Items] | |||
Funded amount | 24,600 | 22,437 | |
Financial liabilities designated at fair value | |||
Schedule of Funding Sources And Funding Uses [Line Items] | |||
Funded amount | 164,466 | 148,505 | |
Liabilities under insurance contracts | |||
Schedule of Funding Sources And Funding Uses [Line Items] | |||
Funded amount | 97,439 | 87,330 | |
Trading liabilities | |||
Schedule of Funding Sources And Funding Uses [Line Items] | |||
Funded amount | 83,170 | 84,431 | |
Trading liabilities | Reverse repurchase agreements – non-trading | |||
Schedule of Funding Sources And Funding Uses [Line Items] | |||
Funded amount | 558 | 1,495 | |
Trading liabilities | Stock lending | |||
Schedule of Funding Sources And Funding Uses [Line Items] | |||
Funded amount | 9,702 | 10,998 | |
Trading liabilities | Other trading liabilities | |||
Schedule of Funding Sources And Funding Uses [Line Items] | |||
Funded amount | 72,910 | 71,938 | |
Equity | |||
Schedule of Funding Sources And Funding Uses [Line Items] | |||
Funded amount | 192,668 | 194,249 | |
Other balance sheet liabilities | |||
Schedule of Funding Sources And Funding Uses [Line Items] | |||
Funded amount | $ 338,771 | $ 296,593 |
Report Of The Directors Fina_22
Report Of The Directors Financial Review Risk Report - Trading VaR, 99% 1 Day (Details) - Trading portfolios - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | $ 40.3 | $ 57.1 |
Average | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | 47.8 | 54.8 |
Top of range | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | 59.3 | 71.2 |
Bottom of range | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | 33.3 | 43.9 |
Foreign exchange (FX) and commodity | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | 7.7 | 12.6 |
Foreign exchange (FX) and commodity | Average | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | 6.9 | 9.5 |
Foreign exchange (FX) and commodity | Top of range | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | 13.5 | 21.8 |
Foreign exchange (FX) and commodity | Bottom of range | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | 4.1 | 5.5 |
Interest rate | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | 28.2 | 33.9 |
Interest rate | Average | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | 29.9 | 36.4 |
Interest rate | Top of range | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | 36.5 | 49.9 |
Interest rate | Bottom of range | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | 22.9 | 27 |
Equity (EQ) | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | 15.7 | 22.6 |
Equity (EQ) | Average | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | 16.2 | 22.5 |
Equity (EQ) | Top of range | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | 24.9 | 33.8 |
Equity (EQ) | Bottom of range | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | 12.4 | 13.5 |
Credit spread | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | 15.2 | 25.9 |
Credit spread | Average | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | 23.7 | 20.7 |
Credit spread | Top of range | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | 33.2 | 35.2 |
Credit spread | Bottom of range | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | 11.7 | 12.2 |
Portfolio diversification | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | (26.4) | (37.9) |
Portfolio diversification | Average | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | $ (29) | $ (34.3) |
Report Of The Directors Fina_23
Report Of The Directors Financial Review Risk Report - Non-trading VaR 99% 1 Day (Details) - Non-trading portfolios - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | $ 130.5 | $ 68 |
Average | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | 84.5 | 116 |
Top of range | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | 132.8 | 154.1 |
Bottom of range | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | 60.9 | 68 |
Interest rate | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | 96.2 | 61.4 |
Interest rate | Average | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | 65.9 | 96.8 |
Interest rate | Top of range | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | 100.1 | 129.3 |
Interest rate | Bottom of range | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | 49.2 | 59.9 |
Credit spread | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | 62.5 | 37.2 |
Credit spread | Average | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | 44.2 | 48.3 |
Credit spread | Top of range | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | 81.2 | 96 |
Credit spread | Bottom of range | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | 26.6 | 27.6 |
Portfolio diversification | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | (28.2) | (30.6) |
Portfolio diversification | Average | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | $ (25.6) | $ (29.1) |
Report Of The Directors Fina_24
Report Of The Directors Financial Review Risk Report - Measurement (Details) | 12 Months Ended |
Dec. 31, 2019 | |
Report Of The Directors Financial Review Risk Report [Abstract] | |
Risk appetite | 135.00% |
Report Of The Directors Fina_25
Report Of The Directors Financial Review Risk Report - Balance sheet of insurance manufacturing subsidiaries by type of contract (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of types of insurance contracts [line items] | |||||
Financial assets | $ 2,621,427 | $ 2,471,203 | |||
Trading assets | 254,271 | 238,130 | |||
Derivatives | 242,995 | 207,825 | |||
Financial investments at amortised cost | 436,959 | 404,111 | |||
Other financial assets | 12,006 | 10,086 | |||
Total assets | 2,715,152 | 2,558,124 | $ 2,521,771 | ||
Liabilities under insurance contracts | 93,847 | 84,824 | |||
Deferred tax | 3,375 | 2,619 | |||
Other liabilities | 18,844 | 20,218 | |||
Total liabilities | 2,522,484 | 2,363,875 | |||
Total equity | 192,668 | 194,249 | $ 196,224 | $ 197,871 | $ 182,578 |
Total liabilities and equity | 2,715,152 | 2,558,124 | |||
With DPF | |||||
Disclosure of types of insurance contracts [line items] | |||||
Liabilities under insurance contracts | 25,964 | 24,258 | |||
Unit-linked | |||||
Disclosure of types of insurance contracts [line items] | |||||
Liabilities under insurance contracts | 6,080 | 5,721 | |||
Other contracts | |||||
Disclosure of types of insurance contracts [line items] | |||||
Liabilities under insurance contracts | 61,803 | 54,845 | |||
Insurance Manufacturing Subsidiaries | |||||
Disclosure of types of insurance contracts [line items] | |||||
Financial assets | 107,045 | 96,744 | |||
Trading assets | 0 | 0 | |||
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | 34,278 | 29,242 | |||
Derivatives | 208 | 237 | |||
Financial investments at amortised cost | 52,829 | 49,413 | |||
Financial investments at fair value through other comprehensive income | 14,028 | 13,334 | |||
Other financial assets | 5,702 | 4,518 | |||
Reinsurance assets | 3,844 | 2,692 | |||
PVIF | 8,945 | 7,149 | |||
Other assets and investment properties | 3,310 | 3,360 | |||
Total assets | 123,144 | 109,945 | |||
Liabilities under investment contracts designated at fair value | 5,892 | 5,458 | |||
Liabilities under insurance contracts | 97,439 | 87,330 | |||
Deferred tax | 1,523 | 1,266 | |||
Other liabilities | 4,410 | 3,659 | |||
Total liabilities | 109,264 | 97,713 | |||
Total equity | 13,879 | 12,232 | |||
Total liabilities and equity | 123,143 | 109,945 | |||
Insurance Manufacturing Subsidiaries | Assets and liabilities related to insurance contracts | With DPF | |||||
Disclosure of types of insurance contracts [line items] | |||||
Financial assets | 73,929 | 66,735 | |||
Trading assets | 0 | 0 | |||
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | 21,652 | 17,855 | |||
Derivatives | 202 | 200 | |||
Financial investments at amortised cost | 35,299 | 33,575 | |||
Financial investments at fair value through other comprehensive income | 12,447 | 11,499 | |||
Other financial assets | 4,329 | 3,606 | |||
Reinsurance assets | 2,208 | 1,255 | |||
PVIF | 0 | 0 | |||
Other assets and investment properties | 2,495 | 2,670 | |||
Total assets | 78,632 | 70,660 | |||
Liabilities under investment contracts designated at fair value | 0 | 0 | |||
Liabilities under insurance contracts | 77,147 | 69,269 | |||
Deferred tax | 197 | 179 | |||
Other liabilities | 0 | 0 | |||
Total liabilities | 77,344 | 69,448 | |||
Total equity | 0 | 0 | |||
Total liabilities and equity | 77,344 | 69,448 | |||
Insurance Manufacturing Subsidiaries | Assets and liabilities related to insurance contracts | Unit-linked | |||||
Disclosure of types of insurance contracts [line items] | |||||
Financial assets | 7,333 | 7,337 | |||
Trading assets | 0 | 0 | |||
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | 7,119 | 7,099 | |||
Derivatives | (6) | 0 | |||
Financial investments at amortised cost | 18 | 70 | |||
Financial investments at fair value through other comprehensive income | 0 | 0 | |||
Other financial assets | 202 | 168 | |||
Reinsurance assets | 72 | 69 | |||
PVIF | 0 | 0 | |||
Other assets and investment properties | 2 | 2 | |||
Total assets | 7,407 | 7,408 | |||
Liabilities under investment contracts designated at fair value | 2,011 | 1,574 | |||
Liabilities under insurance contracts | 6,151 | 5,789 | |||
Deferred tax | 23 | 21 | |||
Other liabilities | 0 | 0 | |||
Total liabilities | 8,185 | 7,384 | |||
Total equity | 0 | 0 | |||
Total liabilities and equity | 8,185 | 7,384 | |||
Insurance Manufacturing Subsidiaries | Assets and liabilities related to insurance contracts | Other contracts | |||||
Disclosure of types of insurance contracts [line items] | |||||
Financial assets | 17,514 | 15,552 | |||
Trading assets | 0 | 0 | |||
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | 3,081 | 3,024 | |||
Derivatives | 9 | 33 | |||
Financial investments at amortised cost | 13,436 | 11,597 | |||
Financial investments at fair value through other comprehensive income | 445 | 450 | |||
Other financial assets | 543 | 448 | |||
Reinsurance assets | 1,563 | 1,368 | |||
PVIF | 0 | 0 | |||
Other assets and investment properties | 211 | 235 | |||
Total assets | 19,288 | 17,155 | |||
Liabilities under investment contracts designated at fair value | 3,881 | 3,884 | |||
Liabilities under insurance contracts | 14,141 | 12,272 | |||
Deferred tax | 6 | 15 | |||
Other liabilities | 0 | 0 | |||
Total liabilities | 18,028 | 16,171 | |||
Total equity | 0 | 0 | |||
Total liabilities and equity | 18,028 | 16,171 | |||
Insurance Manufacturing Subsidiaries | Shareholder assets and liabilities | |||||
Disclosure of types of insurance contracts [line items] | |||||
Financial assets | 8,269 | 7,120 | |||
Trading assets | 0 | 0 | |||
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | 2,426 | 1,264 | |||
Derivatives | 3 | 4 | |||
Financial investments at amortised cost | 4,076 | 4,171 | |||
Financial investments at fair value through other comprehensive income | 1,136 | 1,385 | |||
Other financial assets | 628 | 296 | |||
Reinsurance assets | 1 | 0 | |||
PVIF | 8,945 | 7,149 | |||
Other assets and investment properties | 602 | 453 | |||
Total assets | 17,817 | 14,722 | |||
Liabilities under investment contracts designated at fair value | 0 | 0 | |||
Liabilities under insurance contracts | 0 | 0 | |||
Deferred tax | 1,297 | 1,051 | |||
Other liabilities | 4,410 | 3,659 | |||
Total liabilities | 5,707 | 4,710 | |||
Total equity | 13,879 | 12,232 | |||
Total liabilities and equity | $ 19,586 | $ 16,942 |
Report Of The Directors Fina_26
Report Of The Directors Financial Review Risk Report - Balance sheet of insurance manufacturing subsidiaries by geographical region (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of types of insurance contracts [line items] | |||||
Financial assets | $ 2,621,427 | $ 2,471,203 | |||
Trading assets | 254,271 | 238,130 | |||
Derivatives | 242,995 | 207,825 | |||
Financial investments at amortised cost | 436,959 | 404,111 | |||
Other financial assets | 12,006 | 10,086 | |||
Total assets | 2,715,152 | 2,558,124 | $ 2,521,771 | ||
Liabilities under insurance contracts | 93,847 | 84,824 | |||
Deferred tax | 3,375 | 2,619 | |||
Other liabilities | 18,844 | 20,218 | |||
Total liabilities | 2,522,484 | 2,363,875 | |||
Total equity | 192,668 | 194,249 | $ 196,224 | $ 197,871 | $ 182,578 |
Total liabilities and equity | 2,715,152 | 2,558,124 | |||
Insurance Manufacturing Subsidiaries | |||||
Disclosure of types of insurance contracts [line items] | |||||
Financial assets | 107,045 | 96,744 | |||
Trading assets | 0 | 0 | |||
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | 34,278 | 29,242 | |||
Derivatives | 208 | 237 | |||
Financial investments at amortised cost | 52,829 | 49,413 | |||
Financial investments at fair value through other comprehensive income | 14,028 | 13,334 | |||
Other financial assets | 5,702 | 4,518 | |||
Reinsurance assets | 3,844 | 2,692 | |||
PVIF | 8,945 | 7,149 | |||
Other assets and investment properties | 3,310 | 3,360 | |||
Total assets | 123,144 | 109,945 | |||
Liabilities under investment contracts designated at fair value | 5,892 | 5,458 | |||
Liabilities under insurance contracts | 97,439 | 87,330 | |||
Deferred tax | 1,523 | 1,266 | |||
Other liabilities | 4,410 | 3,659 | |||
Total liabilities | 109,264 | 97,713 | |||
Total equity | 13,879 | 12,232 | |||
Total liabilities and equity | 123,143 | 109,945 | |||
Insurance Manufacturing Subsidiaries | Europe | |||||
Disclosure of types of insurance contracts [line items] | |||||
Financial assets | 31,613 | 28,631 | |||
Trading assets | 0 | 0 | |||
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | 15,490 | 13,142 | |||
Derivatives | 84 | 121 | |||
Financial investments at amortised cost | 100 | 296 | |||
Financial investments at fair value through other comprehensive income | 13,071 | 12,453 | |||
Other financial assets | 2,868 | 2,619 | |||
Reinsurance assets | 237 | 249 | |||
PVIF | 945 | 832 | |||
Other assets and investment properties | 1,085 | 1,053 | |||
Total assets | 33,880 | 30,765 | |||
Liabilities under investment contracts designated at fair value | 1,139 | 780 | |||
Liabilities under insurance contracts | 28,437 | 26,375 | |||
Deferred tax | 229 | 209 | |||
Other liabilities | 2,212 | 1,690 | |||
Total liabilities | 32,017 | 29,054 | |||
Total equity | 1,862 | 1,711 | |||
Total liabilities and equity | 33,879 | 30,765 | |||
Insurance Manufacturing Subsidiaries | Asia | |||||
Disclosure of types of insurance contracts [line items] | |||||
Financial assets | 74,237 | 66,793 | |||
Trading assets | 0 | 0 | |||
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | 18,562 | 15,744 | |||
Derivatives | 124 | 116 | |||
Financial investments at amortised cost | 52,186 | 48,595 | |||
Financial investments at fair value through other comprehensive income | 582 | 440 | |||
Other financial assets | 2,783 | 1,868 | |||
Reinsurance assets | 3,604 | 2,438 | |||
PVIF | 7,841 | 6,195 | |||
Other assets and investment properties | 2,176 | 2,280 | |||
Total assets | 87,858 | 77,706 | |||
Liabilities under investment contracts designated at fair value | 4,753 | 4,678 | |||
Liabilities under insurance contracts | 67,884 | 59,829 | |||
Deferred tax | 1,275 | 1,050 | |||
Other liabilities | 2,172 | 1,911 | |||
Total liabilities | 76,084 | 67,468 | |||
Total equity | 11,774 | 10,238 | |||
Total liabilities and equity | 87,858 | 77,706 | |||
Insurance Manufacturing Subsidiaries | Latin America | |||||
Disclosure of types of insurance contracts [line items] | |||||
Financial assets | 1,195 | 1,320 | |||
Trading assets | 0 | 0 | |||
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | 226 | 326 | |||
Derivatives | 0 | 0 | |||
Financial investments at amortised cost | 543 | 522 | |||
Financial investments at fair value through other comprehensive income | 375 | 441 | |||
Other financial assets | 51 | 31 | |||
Reinsurance assets | 3 | 5 | |||
PVIF | 159 | 122 | |||
Other assets and investment properties | 49 | 27 | |||
Total assets | 1,406 | 1,474 | |||
Liabilities under investment contracts designated at fair value | 0 | 0 | |||
Liabilities under insurance contracts | 1,118 | 1,126 | |||
Deferred tax | 19 | 7 | |||
Other liabilities | 26 | 58 | |||
Total liabilities | 1,163 | 1,191 | |||
Total equity | 243 | 283 | |||
Total liabilities and equity | $ 1,406 | $ 1,474 |
Report Of The Directors Fina_27
Report Of The Directors Financial Review Risk Report - Market risk (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Market risk | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Cost of guarantees | $ 693 | $ 669 |
Report Of The Directors Fina_28
Report Of The Directors Financial Review Risk Report - Financial return guarantees (Details) - Market risk - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of Financial Return Guarantees [Line Items] | ||
Cost of guarantees | $ 693 | $ 669 |
Investment Returns Range One | ||
Disclosure of Financial Return Guarantees [Line Items] | ||
Investment returns implied by guarantee | 0.00% | 0.00% |
Cost of guarantees | $ 110 | $ 100 |
Investment Returns Range Two | ||
Disclosure of Financial Return Guarantees [Line Items] | ||
Cost of guarantees | 118 | 78 |
Investment Returns Range Three | ||
Disclosure of Financial Return Guarantees [Line Items] | ||
Cost of guarantees | 355 | 420 |
Investment Returns Range Four | ||
Disclosure of Financial Return Guarantees [Line Items] | ||
Cost of guarantees | $ 110 | $ 71 |
Bottom of range | ||
Disclosure of Financial Return Guarantees [Line Items] | ||
Long-term investment returns on relevant portfolios | 1.30% | 2.20% |
Bottom of range | Investment Returns Range Two | ||
Disclosure of Financial Return Guarantees [Line Items] | ||
Investment returns implied by guarantee | 0.10% | 0.10% |
Long-term investment returns on relevant portfolios | 3.00% | 3.60% |
Bottom of range | Investment Returns Range Three | ||
Disclosure of Financial Return Guarantees [Line Items] | ||
Investment returns implied by guarantee | 2.00% | 2.10% |
Long-term investment returns on relevant portfolios | 2.40% | 2.70% |
Bottom of range | Investment Returns Range Four | ||
Disclosure of Financial Return Guarantees [Line Items] | ||
Investment returns implied by guarantee | 4.10% | 4.10% |
Long-term investment returns on relevant portfolios | 2.30% | 2.70% |
Top of range | ||
Disclosure of Financial Return Guarantees [Line Items] | ||
Long-term investment returns on relevant portfolios | 3.90% | 3.00% |
Top of range | Investment Returns Range Two | ||
Disclosure of Financial Return Guarantees [Line Items] | ||
Investment returns implied by guarantee | 2.00% | 2.00% |
Long-term investment returns on relevant portfolios | 4.50% | 3.70% |
Top of range | Investment Returns Range Three | ||
Disclosure of Financial Return Guarantees [Line Items] | ||
Investment returns implied by guarantee | 4.00% | 4.00% |
Long-term investment returns on relevant portfolios | 4.50% | 4.60% |
Top of range | Investment Returns Range Four | ||
Disclosure of Financial Return Guarantees [Line Items] | ||
Investment returns implied by guarantee | 5.00% | 5.00% |
Long-term investment returns on relevant portfolios | 4.10% | 4.10% |
France | Investment Returns Range Three | ||
Disclosure of Financial Return Guarantees [Line Items] | ||
Investment returns implied by guarantee | 2.60% | |
France | Bottom of range | Investment Returns Range Three | ||
Disclosure of Financial Return Guarantees [Line Items] | ||
Investment returns implied by guarantee | 1.25% | |
France | Top of range | Investment Returns Range Three | ||
Disclosure of Financial Return Guarantees [Line Items] | ||
Investment returns implied by guarantee | 3.72% |
Report Of The Directors Fina_29
Report Of The Directors Financial Review Risk Report - Sensitivity of HSBC’s insurance manufacturing subsidiaries to market risk factors (Details) - Market risk - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Effect on profit after tax | ||
Positive 100 basis point parallel shift in yield curves | $ 43 | $ 9 |
Negative 100 basis point parallel shift in yield curves | (221) | (28) |
10% increase in equity prices | 270 | 213 |
10% decrease in equity prices | (276) | (202) |
10% increase in US dollar exchange rate compared with all currencies | 41 | 36 |
10% decrease in US dollar exchange rate compared with all currencies | (41) | (36) |
Effect on total equity | ||
Positive 100 basis point parallel shift in yield curves | (37) | (61) |
Negative 100 basis point parallel shift in yield curves | (138) | 46 |
10% increase in equity prices | 270 | 213 |
10% decrease in equity prices | (276) | (202) |
10% increase in US dollar exchange rate compared with all currencies | 41 | 36 |
10% decrease in US dollar exchange rate compared with all currencies | $ (41) | $ (36) |
Report Of The Directors Fina_30
Report Of The Directors Financial Review Risk Report - Credit risk, Description and exposure (Details) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Credit risk | ||
Disclosure of credit risk exposure [line items] | ||
Percentage of insurance contracts assessed as satisfactory or higher that is neither past due nor impaired | 100.00% | 100.00% |
Report Of The Directors Fina_31
Report Of The Directors Financial Review Risk Report - Expected maturity of insurance contract liabilities (Details) - Liquidity risk - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure Of Expected Maturity Of Insurance Contract Liabilities [Line Items] | ||
Expected undiscounted cash flows | $ 166,178 | $ 145,859 |
Up to 1 year | ||
Disclosure Of Expected Maturity Of Insurance Contract Liabilities [Line Items] | ||
Expected undiscounted cash flows | 9,203 | 8,578 |
1 to 5 years | ||
Disclosure Of Expected Maturity Of Insurance Contract Liabilities [Line Items] | ||
Expected undiscounted cash flows | 30,059 | 30,429 |
5-15 years | ||
Disclosure Of Expected Maturity Of Insurance Contract Liabilities [Line Items] | ||
Expected undiscounted cash flows | 53,230 | 48,901 |
Over 15 years | ||
Disclosure Of Expected Maturity Of Insurance Contract Liabilities [Line Items] | ||
Expected undiscounted cash flows | 73,686 | 57,951 |
Unit-linked | ||
Disclosure Of Expected Maturity Of Insurance Contract Liabilities [Line Items] | ||
Expected undiscounted cash flows | 9,058 | 8,697 |
Unit-linked | Up to 1 year | ||
Disclosure Of Expected Maturity Of Insurance Contract Liabilities [Line Items] | ||
Expected undiscounted cash flows | 1,296 | 1,119 |
Unit-linked | 1 to 5 years | ||
Disclosure Of Expected Maturity Of Insurance Contract Liabilities [Line Items] | ||
Expected undiscounted cash flows | 3,153 | 2,932 |
Unit-linked | 5-15 years | ||
Disclosure Of Expected Maturity Of Insurance Contract Liabilities [Line Items] | ||
Expected undiscounted cash flows | 2,654 | 2,684 |
Unit-linked | Over 15 years | ||
Disclosure Of Expected Maturity Of Insurance Contract Liabilities [Line Items] | ||
Expected undiscounted cash flows | 1,955 | 1,962 |
With DPF and Other contracts | ||
Disclosure Of Expected Maturity Of Insurance Contract Liabilities [Line Items] | ||
Expected undiscounted cash flows | 157,120 | 137,162 |
With DPF and Other contracts | Up to 1 year | ||
Disclosure Of Expected Maturity Of Insurance Contract Liabilities [Line Items] | ||
Expected undiscounted cash flows | 7,907 | 7,459 |
With DPF and Other contracts | 1 to 5 years | ||
Disclosure Of Expected Maturity Of Insurance Contract Liabilities [Line Items] | ||
Expected undiscounted cash flows | 26,906 | 27,497 |
With DPF and Other contracts | 5-15 years | ||
Disclosure Of Expected Maturity Of Insurance Contract Liabilities [Line Items] | ||
Expected undiscounted cash flows | 50,576 | 46,217 |
With DPF and Other contracts | Over 15 years | ||
Disclosure Of Expected Maturity Of Insurance Contract Liabilities [Line Items] | ||
Expected undiscounted cash flows | $ 71,731 | $ 55,989 |
Report Of The Directors Fina_32
Report Of The Directors Financial Review Risk Report - Sensitivity analysis (Details) - Insurance Risk - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of types of insurance contracts [line items] | ||
10% increase in mortality and/or morbidity rates | $ (88) | $ (77) |
10% decrease in mortality and/or morbidity rates | 88 | 82 |
10% increase in lapse rates | (99) | (95) |
10% decrease in lapse rates | 114 | 107 |
10% increase in expense rates | (106) | (92) |
10% decrease in expense rates | $ 105 | $ 93 |
Report Of The Directors Fina_33
Report Of The Directors Financial Review Capital Report - Own funds disclosure (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Common equity tier 1 (‘CET1’) capital: instruments and reserves | ||
Capital instruments and the related share premium accounts | $ 22,873 | $ 22,384 |
Retained earnings | 127,188 | 121,180 |
Accumulated other comprehensive income (and other reserves) | 1,735 | 3,368 |
Minority interests (amount allowed in consolidated CET1) | 4,865 | 4,854 |
Independently reviewed interim net profits net of any foreseeable charge or dividend | (3,381) | 3,697 |
Common equity tier 1 capital before regulatory adjustments | 153,280 | 155,483 |
Common equity tier 1 capital: regulatory adjustments | ||
Total regulatory adjustments to common equity tier 1 | (29,314) | (34,461) |
Common equity tier 1 capital | 123,966 | 121,022 |
Additional tier 1 capital before regulatory adjustments | 24,453 | 26,180 |
Total regulatory adjustments to additional tier 1 capital | (60) | (60) |
Additional tier 1 capital | 24,393 | 26,120 |
Tier 1 capital | 148,359 | 147,142 |
Tier 2 capital before regulatory adjustments | 25,192 | 26,729 |
Total regulatory adjustments to tier 2 capital | (1,401) | (633) |
Tier 2 capital | 23,791 | 26,096 |
Total capital | $ 172,150 | $ 173,238 |
Report Of The Directors Fina_34
Report Of The Directors Financial Review Capital Report - Capital narrative (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Report Of The Directors Financial Review Capital Report [Abstract] | |||
CET1 ratio | 14.70% | 14.00% | |
Increase (decrease) in common equity tier one capital | $ 2,900 | ||
Increase in common equity tier one capital from profits | 6,000 | ||
Increase in common equity tier one capital from intangible asset deduction | 4,900 | ||
Goodwill impairment | 7,349 | $ 0 | $ 0 |
Increase in common equity tier one capital from FVOCI reserve | 1,500 | ||
Increase in common equity tier one capital from foreign currency translation differences | 1,000 | ||
Decrease in common equity tier one capital from dividends and scrip | 9,000 | ||
Decrease in common equity tier one capital from share buy-backs | 1,000 | ||
Decrease in common equity tier one capital from excess expected loss deduction | $ 700 | ||
Pillar 2A requirement, percentage of risk weighted assets | 3.00% | ||
Pillar 2A requirement, risk weighted assets, percentage met by CET1 | 1.70% |
Report of Directors Corporate_3
Report of Directors Corporate Governance - Single figure of remuneration (Details) - GBP (£) | 3 Months Ended | 12 Months Ended | ||||
Dec. 31, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Feb. 24, 2019 | Nov. 30, 2018 | Feb. 28, 2017 | |
Disclosure of transactions between related parties [line items] | ||||||
Deferred prosecution agreement term | 5 years | |||||
Share price (in gbp per share) | £ 5.919 | £ 5.919 | £ 6.235 | £ 6.643 | £ 6.503 | |
Average daily closing share price (gbp per share) | £ 5.896 | |||||
Performance assessment outcome, percentage | 27.50% | |||||
Noel Quinn | ||||||
Disclosure of transactions between related parties [line items] | ||||||
Base salary | £ 503,000 | £ 0 | ||||
Fixed pay allowance | 695,000 | 0 | ||||
Cash in lieu of pension | 50,000 | 0 | ||||
Taxable benefits | 41,000 | 0 | ||||
Non-taxable benefits | 23,000 | 0 | ||||
Total fixed | 1,312,000 | 0 | ||||
Annual incentive | 665,000 | 0 | ||||
AML DPA award | 0 | 0 | ||||
LTI | 0 | 0 | ||||
Replacement award | 0 | 0 | ||||
Notional returns | 0 | 0 | ||||
Total variable | 665,000 | 0 | ||||
Total fixed and variable | £ 1,977,000 | 0 | ||||
Percentage of annual incentive award deferred in shares | 60.00% | |||||
John Flint | ||||||
Disclosure of transactions between related parties [line items] | ||||||
Base salary | £ 730,000 | 1,028,000 | ||||
Fixed pay allowance | 1,005,000 | 1,459,000 | ||||
Cash in lieu of pension | 134,000 | 308,000 | ||||
Taxable benefits | 91,000 | 40,000 | ||||
Non-taxable benefits | 31,000 | 28,000 | ||||
Total fixed | 1,991,000 | 2,863,000 | ||||
Annual incentive | 891,000 | 1,665,000 | ||||
AML DPA award | 0 | 0 | ||||
LTI | 0 | 0 | ||||
Replacement award | 0 | 0 | ||||
Notional returns | 40,000 | 54,000 | ||||
Total variable | 931,000 | 1,719,000 | ||||
Total fixed and variable | £ 2,922,000 | 4,582,000 | ||||
Percentage of annual incentive award deferred in shares | 60.00% | |||||
Shares vesting retention period | 1 year | |||||
Ewen Stevenson | ||||||
Disclosure of transactions between related parties [line items] | ||||||
Base salary | £ 719,000 | 0 | ||||
Fixed pay allowance | 950,000 | 0 | ||||
Cash in lieu of pension | 107,000 | 0 | ||||
Taxable benefits | 16,000 | 0 | ||||
Non-taxable benefits | 28,000 | 0 | ||||
Total fixed | 1,820,000 | 0 | ||||
Annual incentive | 1,082,000 | 0 | ||||
AML DPA award | 0 | 0 | ||||
LTI | 0 | 0 | ||||
Replacement award | 1,974,000 | 0 | ||||
Notional returns | 0 | 0 | ||||
Total variable | 3,056,000 | 0 | ||||
Total fixed and variable | 4,876,000 | 0 | ||||
Marc Moses | ||||||
Disclosure of transactions between related parties [line items] | ||||||
Base salary | 719,000 | 700,000 | ||||
Fixed pay allowance | 950,000 | 950,000 | ||||
Cash in lieu of pension | 107,000 | 210,000 | ||||
Taxable benefits | 40,000 | 13,000 | ||||
Non-taxable benefits | 33,000 | 38,000 | ||||
Total fixed | 1,849,000 | 1,911,000 | ||||
Annual incentive | 926,000 | 1,324,000 | ||||
AML DPA award | 0 | 695,000 | ||||
LTI | 1,709,000 | 0 | ||||
Replacement award | 0 | 0 | ||||
Notional returns | 17,000 | 33,000 | ||||
Total variable | 2,652,000 | 2,052,000 | ||||
Total fixed and variable | £ 4,501,000 | £ 3,963,000 | ||||
Percentage of annual incentive award deferred in shares | 60.00% | |||||
Shares vesting retention period | 1 year | |||||
Dividend equivalents | £ 237,030 | |||||
Dividend equivalents (in shares) | 40,202 | |||||
2015 LTI Award | Ewen Stevenson | ||||||
Disclosure of transactions between related parties [line items] | ||||||
LTI | £ 1,121,308 | |||||
2016 LTI Award | Ewen Stevenson | ||||||
Disclosure of transactions between related parties [line items] | ||||||
LTI | £ 852,652 | |||||
Tranche 1 | John Flint | ||||||
Disclosure of transactions between related parties [line items] | ||||||
Vesting percentage | 20.00% | |||||
Tranche 1 | Marc Moses | ||||||
Disclosure of transactions between related parties [line items] | ||||||
Vesting percentage | 20.00% | |||||
Tranche 2 | John Flint | ||||||
Disclosure of transactions between related parties [line items] | ||||||
Vesting percentage | 20.00% | |||||
Tranche 2 | Marc Moses | ||||||
Disclosure of transactions between related parties [line items] | ||||||
Vesting percentage | 20.00% | |||||
Tranche 3 | John Flint | ||||||
Disclosure of transactions between related parties [line items] | ||||||
Vesting percentage | 20.00% | |||||
Tranche 3 | Marc Moses | ||||||
Disclosure of transactions between related parties [line items] | ||||||
Vesting percentage | 20.00% | |||||
Tranche 4 | John Flint | ||||||
Disclosure of transactions between related parties [line items] | ||||||
Vesting percentage | 20.00% | |||||
Tranche 4 | Marc Moses | ||||||
Disclosure of transactions between related parties [line items] | ||||||
Vesting percentage | 20.00% | |||||
Tranche 5 | John Flint | ||||||
Disclosure of transactions between related parties [line items] | ||||||
Vesting percentage | 20.00% | |||||
Tranche 5 | Marc Moses | ||||||
Disclosure of transactions between related parties [line items] | ||||||
Vesting percentage | 20.00% |
Report of Directors Corporate_4
Report of Directors Corporate Governance - Determining executive Directors’ annual performance (Details) £ in Thousands, $ in Billions | 5 Months Ended | 7 Months Ended | 12 Months Ended | ||
Dec. 31, 2019 | Aug. 04, 2019 | Dec. 31, 2019USD ($)point | Dec. 31, 2019GBP (£)point | Dec. 31, 2018GBP (£)point | |
Noel Quinn and John Flint | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Maximum Annual Incentive Opportunity For Executive Director, Percentage Of Salary | 198.00% | 198.00% | |||
Ewen Stevenson and Marc Moses | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Maximum Annual Incentive Opportunity For Executive Director, Percentage Of Salary | 193.00% | 193.00% | |||
Noel Quinn | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Annual incentive | £ 665 | £ 0 | |||
Annual incentive award, percentage of performance outcome to reflect time spent in role | 40.80% | ||||
John Flint | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Annual incentive | £ 891 | £ 1,665 | |||
Annual incentive award, percentage of performance outcome to reflect time spent in role | 59.20% | ||||
Profit before tax | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Assessment (%) | 92.50% | 92.50% | |||
Financial measure, performance | $ | $ 24 | ||||
Profit before tax | Bottom of range | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Financial measure, payout | $ | 21.3 | ||||
Profit before tax | Top of range | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Financial measure, payout | $ | $ 24.3 | ||||
Positive jaws | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Assessment (%) | 100.00% | 100.00% | |||
Financial measure, performance percentage | 3.00% | 3.00% | |||
Positive jaws | Top of range | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Financial measure, payout percentage | 2.50% | 2.50% | |||
Revenue growth | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Assessment (%) | 79.40% | 79.40% | |||
Financial measure, performance percentage | 5.90% | 5.90% | |||
Revenue growth | Bottom of range | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Financial measure, payout percentage | 3.00% | 3.00% | |||
Revenue growth | Top of range | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Financial measure, payout percentage | 7.00% | 7.00% | |||
RoTE | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Assessment (%) | 48.70% | 48.70% | |||
Financial measure, performance percentage | 8.40% | 8.40% | |||
RoTE | Bottom of range | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Financial measure, payout percentage | 7.80% | 7.80% | |||
RoTE | Top of range | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Financial measure, payout percentage | 9.70% | 9.70% | |||
Capital metrics | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Intent to maintain CET1 ration, minimum percentage | 14.00% | 14.00% | |||
Group Chief Executive | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Weighting (%) | 100.00% | 100.00% | |||
Maximum annual incentive opportunity | £ 2,451 | ||||
Revenue growth (contraction) from international clients | 2.00% | 2.00% | |||
Revenue growth from international clients, weighting | 5.00% | 5.00% | |||
Revenue growth from international clients, payout | 0.00% | 0.00% | |||
Customer satisfaction, weighting | 5.00% | 5.00% | |||
Customer satisfaction, performance assessment | 75.00% | 75.00% | |||
Customer satisfaction, scorecard outcome | 3.75% | 3.75% | |||
Employer advocacy, as a measure of employee engagement, actual | 66.00% | 66.00% | |||
Employer advocacy, as a measure of employee engagement, 2019 target | 69.00% | 69.00% | |||
Percentage of female representation at Senior Management level, actual | 29.40% | 29.40% | |||
Percentage of female representation at Senior Management level, 2019 target | 29.00% | 29.00% | |||
Percentage of female representation at Senior Management level, 2020 target | 30.00% | 30.00% | |||
Group Chief Executive | US | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Return on tangible equity, actual | 1.80% | 1.80% | |||
Return on tangible equity, weighting | 5.00% | 5.00% | |||
Return on tangible equity, payout | 0.00% | 0.00% | |||
Group Chief Executive | Asia | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Revenue growth | 7.10% | 7.10% | |||
Revenue growth, weighting | 15.00% | 15.00% | |||
Revenue growth, performance assessment | 54.00% | 54.00% | |||
Revenue growth, overall scorecard outcome | 8.05% | 8.05% | |||
Group Chief Executive | Hong Kong | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Revenue growth | 6.60% | 6.60% | |||
Group Chief Executive | ASEAN Region | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Revenue growth | 5.40% | 5.40% | |||
Group Chief Executive | Pearl River Delta | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Revenue growth | 9.80% | 9.80% | |||
Group Chief Executive | Wealth Management | Asia | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Revenue growth | 11.60% | 11.60% | |||
Group Chief Executive | Global Banking and Markets | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Decrease in customer engagement score | point | 2 | 2 | |||
Group Chief Executive | Retail Banking and Wealth Management | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Return on tangible equity, percent ranked in top three | 75.00% | 75.00% | |||
Group Chief Executive | Commercial Banking | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Return on tangible equity, percent ranked in top three | 50.00% | 50.00% | |||
Group Chief Executive | Global Private Banking | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Customer satisfaction points | point | 8 | 8 | 7.6 | ||
Group Chief Executive | Bottom of range | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Revenue growth from international clients, target | 3.50% | 3.50% | |||
Group Chief Executive | Bottom of range | US | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Return on tangible equity, target | 2.00% | 2.00% | |||
Group Chief Executive | Top of range | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Revenue growth from international clients, target | 7.50% | 7.50% | |||
Group Chief Executive | Top of range | US | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Return on tangible equity, target | 4.00% | 4.00% | |||
Group Chief Executive | Noel Quinn | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Outcome (%) | 66.40% | ||||
Annual incentive | £ 665 | ||||
Group Chief Executive | John Flint | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Outcome (%) | 61.40% | ||||
Annual incentive | £ 891 | ||||
Group Chief Executive | Profit before tax | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Weighting (%) | 10.00% | 10.00% | |||
Assessment (%) | 92.50% | 92.50% | |||
Outcome (%) | 9.30% | 9.30% | |||
Group Chief Executive | Positive jaws | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Weighting (%) | 5.00% | 5.00% | |||
Assessment (%) | 100.00% | 100.00% | |||
Outcome (%) | 5.00% | 5.00% | |||
Group Chief Executive | Revenue growth | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Weighting (%) | 10.00% | 10.00% | |||
Assessment (%) | 79.40% | 79.40% | |||
Outcome (%) | 7.90% | 7.90% | |||
Group Chief Executive | RoTE | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Weighting (%) | 5.00% | 5.00% | |||
Assessment (%) | 48.70% | 48.70% | |||
Outcome (%) | 2.40% | 2.40% | |||
Group Chief Executive | Capital metrics | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Weighting (%) | 5.00% | 5.00% | |||
Assessment (%) | 62.50% | 62.50% | |||
Outcome (%) | 3.10% | 3.10% | |||
Group Chief Executive | Strategic priorities | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Weighting (%) | 30.00% | 30.00% | |||
Assessment (%) | 39.30% | 39.30% | |||
Outcome (%) | 11.80% | 11.80% | |||
Group Chief Executive | Risk and compliance | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Weighting (%) | 25.00% | 25.00% | |||
Assessment (%) | 77.50% | 77.50% | |||
Outcome (%) | 19.40% | 19.40% | |||
Group Chief Executive | Risk and compliance | Noel Quinn | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Assessment (%) | 77.50% | ||||
Outcome (%) | 19.40% | ||||
Group Chief Executive | Risk and compliance | John Flint | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Assessment (%) | 57.50% | ||||
Outcome (%) | 14.40% | ||||
Group Chief Executive | Personal objectives | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Weighting (%) | 10.00% | 10.00% | |||
Assessment (%) | 75.00% | 75.00% | |||
Outcome (%) | 7.50% | 7.50% | |||
Group Chief Financial Officer | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Weighting (%) | 100.00% | 100.00% | |||
Outcome (%) | 77.50% | 77.50% | |||
Maximum annual incentive opportunity | £ 1,396 | ||||
Annual incentive | £ 1,082 | ||||
Employer advocacy, as a measure of employee engagement, actual | 66.00% | 66.00% | |||
Employer advocacy, as a measure of employee engagement, 2019 target | 69.00% | 69.00% | |||
Percentage of female representation at Senior Management level, actual | 29.60% | 29.60% | |||
Percentage of female representation at Senior Management level, 2019 target | 29.20% | 29.20% | |||
Cloud technologies, weighting | 5.00% | 5.00% | |||
Cloud technologies, outcome | 75.00% | 75.00% | |||
Finance function, weighting | 10.00% | 10.00% | |||
Finance function, outcome | 100.00% | 100.00% | |||
Group Chief Financial Officer | US | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Return on tangible equity, actual | 1.80% | 1.80% | |||
Return on tangible equity, weighting | 5.00% | 5.00% | |||
Return on tangible equity, payout | 0.00% | 0.00% | |||
Group Chief Financial Officer | Bottom of range | US | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Return on tangible equity, target | 2.00% | 2.00% | |||
Group Chief Financial Officer | Top of range | US | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Return on tangible equity, target | 4.00% | 4.00% | |||
Group Chief Financial Officer | Profit before tax | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Weighting (%) | 10.00% | 10.00% | |||
Assessment (%) | 92.50% | 92.50% | |||
Outcome (%) | 9.30% | 9.30% | |||
Group Chief Financial Officer | Positive jaws | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Weighting (%) | 10.00% | 10.00% | |||
Assessment (%) | 100.00% | 100.00% | |||
Outcome (%) | 10.00% | 10.00% | |||
Group Chief Financial Officer | Revenue growth | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Weighting (%) | 0.00% | 0.00% | |||
Assessment (%) | 0.00% | 0.00% | |||
Outcome (%) | 0.00% | 0.00% | |||
Group Chief Financial Officer | RoTE | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Weighting (%) | 8.30% | 8.30% | |||
Assessment (%) | 48.70% | 48.70% | |||
Outcome (%) | 4.00% | 4.00% | |||
Group Chief Financial Officer | Capital metrics | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Weighting (%) | 16.70% | 16.70% | |||
Assessment (%) | 62.50% | 62.50% | |||
Outcome (%) | 10.40% | 10.40% | |||
Group Chief Financial Officer | Strategic priorities | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Weighting (%) | 20.00% | 20.00% | |||
Assessment (%) | 68.80% | 68.80% | |||
Outcome (%) | 13.80% | 13.80% | |||
Group Chief Financial Officer | Risk and compliance | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Weighting (%) | 25.00% | 25.00% | |||
Assessment (%) | 90.00% | 90.00% | |||
Outcome (%) | 22.50% | 22.50% | |||
Group Chief Financial Officer | Personal objectives | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Weighting (%) | 10.00% | 10.00% | |||
Assessment (%) | 75.00% | 75.00% | |||
Outcome (%) | 7.50% | 7.50% | |||
Group Chief Risk Officer | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Weighting (%) | 100.00% | 100.00% | |||
Outcome (%) | 66.30% | 66.30% | |||
Maximum annual incentive opportunity | £ 1,396 | ||||
Annual incentive | £ 926 | ||||
Percentage of female representation at Senior Management level, actual | 25.60% | ||||
Percentage of female representation at Senior Management level, 2019 target | 24.00% | 24.00% | |||
Group Chief Risk Officer | US | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Return on tangible equity, actual | 1.80% | 1.80% | |||
Return on tangible equity, weighting | 5.00% | 5.00% | |||
Return on tangible equity, payout | 0.00% | 0.00% | |||
Group Chief Risk Officer | Bottom of range | US | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Return on tangible equity, target | 2.00% | 2.00% | |||
Group Chief Risk Officer | Top of range | US | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Return on tangible equity, target | 4.00% | 4.00% | |||
Group Chief Risk Officer | Profit before tax | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Weighting (%) | 10.00% | 10.00% | |||
Assessment (%) | 92.50% | 92.50% | |||
Outcome (%) | 9.30% | 9.30% | |||
Group Chief Risk Officer | Positive jaws | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Weighting (%) | 0.00% | 0.00% | |||
Assessment (%) | 0.00% | 0.00% | |||
Outcome (%) | 0.00% | 0.00% | |||
Group Chief Risk Officer | Revenue growth | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Weighting (%) | 0.00% | 0.00% | |||
Assessment (%) | 0.00% | 0.00% | |||
Outcome (%) | 0.00% | 0.00% | |||
Group Chief Risk Officer | RoTE | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Weighting (%) | 3.30% | 3.30% | |||
Assessment (%) | 48.70% | 48.70% | |||
Outcome (%) | 1.60% | 1.60% | |||
Group Chief Risk Officer | Capital metrics | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Weighting (%) | 6.70% | 6.70% | |||
Assessment (%) | 62.50% | 62.50% | |||
Outcome (%) | 4.20% | 4.20% | |||
Group Chief Risk Officer | Strategic priorities | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Weighting (%) | 15.00% | 15.00% | |||
Assessment (%) | 41.70% | 41.70% | |||
Outcome (%) | 6.30% | 6.30% | |||
Group Chief Risk Officer | Risk and compliance | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Weighting (%) | 45.00% | 45.00% | |||
Assessment (%) | 63.90% | 63.90% | |||
Outcome (%) | 28.70% | 28.70% | |||
Group Chief Risk Officer | Personal objectives | |||||
Disclosure Of Critical Performance Measures And Indicators Management Uses [Line Items] | |||||
Weighting (%) | 20.00% | 20.00% | |||
Assessment (%) | 81.30% | 81.30% | |||
Outcome (%) | 16.20% | 16.20% |
Report of Directors Corporate_5
Report of Directors Corporate Governance - Assessment of the LTI Award (Details) - 2016 LTI Award - Long-Term Incentive Awards | 36 Months Ended |
Dec. 31, 2019 | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Outcome | 72.72% |
Average return on equity | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Weighting | 20.00% |
Payout percentage | 8.50% |
Actual | 8.33% |
Assessment | 47.17% |
Outcome | 9.43% |
Average return on equity | Bottom of range | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Payout percentage | 7.00% |
Average return on equity | Top of range | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Payout percentage | 10.00% |
Cost efficiency (adjusted jaws) | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Weighting | 20.00% |
Payout percentage | 1.50% |
Actual | 3.10% |
Assessment | 100.00% |
Outcome | 20.00% |
Cost efficiency (adjusted jaws) | Top of range | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Payout percentage | 3.00% |
Relative total shareholder return | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Weighting | 20.00% |
Assessment | 68.00% |
Outcome | 13.60% |
Global Standards including risk and compliance, Status of AML DPA | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Weighting | 10.00% |
Assessment | 100.00% |
Outcome | 10.00% |
Global Standards including risk and compliance, Achieve and sustain compliance with Global Financial Crime Compliance policies and procedures | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Weighting | 15.00% |
Actual | 75.00% |
Assessment | 75.00% |
Outcome | 11.25% |
Strategy, International client revenues | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Weighting | 3.75% |
Payout percentage | 51.00% |
Actual | 53.00% |
Assessment | 100.00% |
Outcome | 3.75% |
Strategy, International client revenues | Bottom of range | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Payout percentage | 50.00% |
Strategy, International client revenues | Top of range | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Payout percentage | 52.00% |
Strategy, Revenue synergies | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Weighting | 3.75% |
Payout percentage | 23.00% |
Actual | 31.00% |
Assessment | 100.00% |
Outcome | 3.75% |
Strategy, Revenue synergies | Bottom of range | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Payout percentage | 22.00% |
Strategy, Revenue synergies | Top of range | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Payout percentage | 24.00% |
Strategy, Employee | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Weighting | 3.75% |
Payout percentage | 67.00% |
Actual | 58.00% |
Assessment | 0.00% |
Outcome | 0.00% |
Strategy, Employee | Bottom of range | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Payout percentage | 65.00% |
Strategy, Employee | Top of range | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Payout percentage | 70.00% |
Strategy, Customer | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Weighting | 3.75% |
Payout percentage | 75.00% |
Assessment | 25.00% |
Outcome | 0.94% |
Strategy, Customer | Bottom of range | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Payout percentage | 50.00% |
Strategy, Customer | Top of range | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Payout percentage | 100.00% |
Report of Directors Corporate_6
Report of Directors Corporate Governance - Long-term incentive awards (Details) - Long-Term Incentive Awards - GBP (£) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Performance period | 3 years | |
Retention period | 1 year | |
Return on tangible equity (with CET1 underpin) | 11.00% | 11.00% |
Metric weighting percent | 100.00% | |
Return on tangible equity | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Metric weighting percent | 33.30% | 75.00% |
Relative TSR | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Metric weighting percent | 33.30% | |
Customers | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Metric weighting percent | 33.30% | |
Ewen Stevenson | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Expense from share-based payment transactions with employees | £ 2,094,400 | |
Bottom of range | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Return on tangible equity (with CET1 underpin) | 10.00% | 10.00% |
Top of range | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Return on tangible equity (with CET1 underpin) | 12.00% | 12.00% |
Tranche 1 | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Vesting percentage | 20.00% | |
Tranche 2 | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Vesting percentage | 20.00% | |
Tranche 3 | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Vesting percentage | 20.00% | |
Tranche 4 | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Vesting percentage | 20.00% | |
Tranche 5 | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Vesting percentage | 20.00% |
Report of Directors Corporate_7
Report of Directors Corporate Governance - Scheme interests awarded (Details) £ / shares in Units, £ in Thousands | May 28, 2019GBP (£)shares | Feb. 25, 2019GBP (£)shares | Dec. 31, 2019£ / shares | Dec. 31, 2018 | Feb. 24, 2019£ / shares | Nov. 30, 2018£ / shares | Feb. 28, 2017£ / shares |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||
Closing share price (in gbp per share) | £ / shares | £ 5.919 | £ 6.235 | £ 6.643 | £ 6.503 | |||
LTI deferred shares | |||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||
Performance period | 3 years | ||||||
Retention period | 1 year | ||||||
Expected dividend yield | 5.00% | ||||||
Expected dividend yield (in gbp per share) | £ / shares | £ 4.867 | ||||||
LTI deferred shares | Tranche 1 | |||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||
Vesting percentage | 20.00% | ||||||
LTI deferred shares | Tranche 2 | |||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||
Vesting percentage | 20.00% | ||||||
LTI deferred shares | Tranche 3 | |||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||
Vesting percentage | 20.00% | ||||||
LTI deferred shares | Tranche 4 | |||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||
Vesting percentage | 20.00% | ||||||
LTI deferred shares | Tranche 5 | |||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||
Vesting percentage | 20.00% | ||||||
Top of range | LTI deferred shares | |||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||
Claw-back period | 10 years | ||||||
Marc Moses | Tranche 1 | |||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||
Vesting percentage | 20.00% | ||||||
Marc Moses | Tranche 2 | |||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||
Vesting percentage | 20.00% | ||||||
Marc Moses | Tranche 3 | |||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||
Vesting percentage | 20.00% | ||||||
Marc Moses | Tranche 4 | |||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||
Vesting percentage | 20.00% | ||||||
Marc Moses | Tranche 5 | |||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||
Vesting percentage | 20.00% | ||||||
Marc Moses | LTI deferred shares | |||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||
Face value awarded | £ 2,859 | ||||||
Percentage receivable for minimum performance | 25.00% | ||||||
Number of shares awarded (in shares) | shares | 458,567 | ||||||
Award as a percentage of base salary | 319.00% | ||||||
John Flint | Tranche 1 | |||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||
Vesting percentage | 20.00% | ||||||
John Flint | Tranche 2 | |||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||
Vesting percentage | 20.00% | ||||||
John Flint | Tranche 3 | |||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||
Vesting percentage | 20.00% | ||||||
John Flint | Tranche 4 | |||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||
Vesting percentage | 20.00% | ||||||
John Flint | Tranche 5 | |||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||
Vesting percentage | 20.00% | ||||||
John Flint | LTI deferred shares | |||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||
Face value awarded | £ 4,919 | ||||||
Percentage receivable for minimum performance | 25.00% | ||||||
Number of shares awarded (in shares) | shares | 788,933 | ||||||
Award as a percentage of base salary | 320.00% | ||||||
Ewen Stevenson | Deferred shares | Replacement Award (2018 Performance Period), Performance Period Ending 2018 | |||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||
Face value awarded | £ 1,509 | ||||||
Percentage receivable for minimum performance | 0.00% | ||||||
Number of shares awarded (in shares) | shares | 241,988 | ||||||
Retention period | 1 year | ||||||
Ewen Stevenson | Deferred shares | Replacement Award (2018 Performance Period), Performance Period Ending 2018 | Tranche 1 | |||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||
Vesting percentage | 20.00% | ||||||
Ewen Stevenson | Deferred shares | Replacement Award (2018 Performance Period), Performance Period Ending 2018 | Tranche 2 | |||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||
Vesting percentage | 20.00% | ||||||
Ewen Stevenson | Deferred shares | Replacement Award (2018 Performance Period), Performance Period Ending 2018 | Tranche 3 | |||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||
Vesting percentage | 20.00% | ||||||
Ewen Stevenson | Deferred shares | Replacement Award (2018 Performance Period), Performance Period Ending 2018 | Tranche 4 | |||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||
Vesting percentage | 20.00% | ||||||
Ewen Stevenson | Deferred shares | Replacement Award (2018 Performance Period), Performance Period Ending 2018 | Tranche 5 | |||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||
Vesting percentage | 20.00% | ||||||
Ewen Stevenson | Deferred shares | Replacement Awards, Performance Period Ending 2017 | |||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||
Face value awarded | £ 561 | ||||||
Percentage receivable for minimum performance | 0.00% | ||||||
Number of shares awarded (in shares) | shares | 84,397 | ||||||
Retention period | 6 months | ||||||
Ewen Stevenson | Deferred shares | Replacement Award, Performance Period Ending 2018 | |||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||
Face value awarded | £ 851 | ||||||
Percentage receivable for minimum performance | 0.00% | ||||||
Number of shares awarded (in shares) | shares | 128,045 | ||||||
Retention period | 6 months | ||||||
Ewen Stevenson | Deferred shares | Replacement Award, Performance Period Ending 2018 | Tranche 1 | |||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||
Vesting percentage | 50.00% | ||||||
Ewen Stevenson | Deferred shares | Replacement Award, Performance Period Ending 2018 | Tranche 2 | |||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||
Vesting percentage | 50.00% | ||||||
Ewen Stevenson | Deferred shares | Replacement Award, Performance Period Ending 2019 | |||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||
Face value awarded | £ 2,083 | ||||||
Percentage receivable for minimum performance | 0.00% | ||||||
Number of shares awarded (in shares) | shares | 313,608 | ||||||
Retention period | 6 months | ||||||
Ewen Stevenson | Deferred shares | Replacement Award, Performance Period Ending 2020 | |||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||
Face value awarded | £ 1,181 | ||||||
Percentage receivable for minimum performance | 0.00% | ||||||
Number of shares awarded (in shares) | shares | 177,883 | ||||||
Retention period | 1 year | ||||||
Noel Quinn | Deferred shares | |||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||
Face value awarded | £ 877 | ||||||
Percentage receivable for minimum performance | 0.00% | ||||||
Number of shares awarded (in shares) | shares | 140,585 | ||||||
Retention period | 1 year | ||||||
Expected dividend yield | 5.00% | ||||||
Expected dividend yield (in gbp per share) | £ / shares | £ 4.867 | ||||||
Noel Quinn | Deferred shares | Tranche 1 | |||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||
Vesting percentage | 20.00% | ||||||
Noel Quinn | Deferred shares | Tranche 2 | |||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||
Vesting percentage | 20.00% | ||||||
Noel Quinn | Deferred shares | Tranche 3 | |||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||
Vesting percentage | 20.00% | ||||||
Noel Quinn | Deferred shares | Tranche 4 | |||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||
Vesting percentage | 20.00% | ||||||
Noel Quinn | Deferred shares | Tranche 5 | |||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||
Vesting percentage | 20.00% | ||||||
Noel Quinn | Deferred cash | |||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||
Face value awarded | £ 684 | ||||||
Percentage receivable for minimum performance | 0.00% | ||||||
LTI deferred shares | |||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||
Performance period | 3 years | ||||||
Retention period | 1 year | ||||||
Return on tangible equity (with CET1 underpin) | 11.00% | 11.00% | |||||
Employer advocacy percent | 70.00% | ||||||
Metric weighting percent | 100.00% | ||||||
LTI deferred shares | Tranche 1 | |||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||
Vesting percentage | 20.00% | ||||||
LTI deferred shares | Tranche 2 | |||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||
Vesting percentage | 20.00% | ||||||
LTI deferred shares | Tranche 3 | |||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||
Vesting percentage | 20.00% | ||||||
LTI deferred shares | Tranche 4 | |||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||
Vesting percentage | 20.00% | ||||||
LTI deferred shares | Tranche 5 | |||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||
Vesting percentage | 20.00% | ||||||
LTI deferred shares | Bottom of range | |||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||
Return on tangible equity (with CET1 underpin) | 10.00% | 10.00% | |||||
Employer advocacy percent | 65.00% | ||||||
LTI deferred shares | Top of range | |||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||
Return on tangible equity (with CET1 underpin) | 12.00% | 12.00% | |||||
Employer advocacy percent | 75.00% | ||||||
Return on tangible equity | LTI deferred shares | |||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||
Metric weighting percent | 33.30% | 75.00% | |||||
Employer advocacy | LTI deferred shares | |||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||
Metric weighting percent | 12.50% | ||||||
Environmental, social and governance rank | LTI deferred shares | |||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||
Metric weighting percent | 12.50% |
Report of Directors Corporate_8
Report of Directors Corporate Governance - Total pension entitlements (Details) | 12 Months Ended |
Dec. 31, 2019individual | |
Report Of Directors Corporate Governance [Abstract] | |
Number of executive directors entitled to additional early retirement benefits | 0 |
Normal employee retirement age | 65 years |
Report of Directors Corporate_9
Report of Directors Corporate Governance - Payments to past Directors (Details) - Former Directors | 12 Months Ended |
Dec. 31, 2019GBP (£) | |
Disclosure of transactions between related parties [line items] | |
Payments to key management personnel in excess of minimum threshold | £ 0 |
Key management personnel, threshold minimum | £ 50,000 |
Report of Directors Corporat_10
Report of Directors Corporate Governance - Payments for loss of office (Details) $ in Millions | Aug. 04, 2020GBP (£) | Dec. 31, 2019 | Aug. 05, 2019 | Dec. 31, 2019GBP (£) | Dec. 31, 2019USD ($)shares | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) |
Disclosure of transactions between related parties [line items] | |||||||
Contractual benefits | $ | $ 8 | $ 6 | $ 5 | ||||
John Flint | |||||||
Disclosure of transactions between related parties [line items] | |||||||
Notice period | 12 months | ||||||
Salary | £ 503,333 | ||||||
Fixed pay allowance | 694,840 | ||||||
Cash in lieu of pension allowance | 50,333 | ||||||
Contractual benefits | 42,190 | ||||||
Contractual benefits, insurance related benefits | 25,940 | ||||||
Contractual benefits, tax return and legal assistance | £ 16,250 | ||||||
Years of service | 30 years | ||||||
Non-compete provisions, period after employment ceases | 2 years | ||||||
Period to receive certain post-departure benefits after employment ceases (up to) | 7 years | ||||||
John Flint | Forecast | |||||||
Disclosure of transactions between related parties [line items] | |||||||
Unused holiday benefits | £ 306,400 | ||||||
Marc Moses | |||||||
Disclosure of transactions between related parties [line items] | |||||||
Notice period | 12 months | ||||||
Years of service | 14 years | ||||||
Non-compete provisions, period after employment ceases | 2 years | ||||||
Period to receive certain post-departure benefits after employment ceases (up to) | 7 years | ||||||
2017 LTI Award | Marc Moses | |||||||
Disclosure of transactions between related parties [line items] | |||||||
Number of shares awarded (in shares) | shares | 384,405 | ||||||
2018 LTI Award | John Flint | |||||||
Disclosure of transactions between related parties [line items] | |||||||
Number of shares awarded (in shares) | shares | 416,381 | ||||||
2018 LTI Award | Marc Moses | |||||||
Disclosure of transactions between related parties [line items] | |||||||
Number of shares awarded (in shares) | shares | 292,973 |
Report of Directors Corporat_11
Report of Directors Corporate Governance - Executive Directors' interests in shares (Details) | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2019shares£ / shares | Dec. 31, 2019shares | Dec. 31, 2018shares | Dec. 31, 2017shares | |
Disclosure of transactions between related parties [line items] | ||||
Share options (in shares) | 65,060,000 | 65,060,000 | 57,065,000 | 64,670,000 |
Average daily closing share price (gbp per share) | £ / shares | £ 5.896 | |||
Period after appointment to meet minimum shareholding guideline | 5 years | |||
Noel Quinn | ||||
Disclosure of transactions between related parties [line items] | ||||
Shareholding guidelines, percentage of salary | 400.00% | |||
Shareholding, percentage of salary | 210.00% | 210.00% | ||
Share interests (in shares) | 441,925 | 441,925 | ||
Share options (in shares) | 0 | 0 | ||
John Flint | ||||
Disclosure of transactions between related parties [line items] | ||||
Shareholding guidelines, percentage of salary | 400.00% | |||
Shareholding, percentage of salary | 504.00% | 504.00% | ||
Share interests (in shares) | 1,060,599 | 1,060,599 | ||
Share options (in shares) | 5,505 | 5,505 | ||
Ewen Stevenson | ||||
Disclosure of transactions between related parties [line items] | ||||
Shareholding guidelines, percentage of salary | 300.00% | |||
Shareholding, percentage of salary | 191.00% | 191.00% | ||
Share interests (in shares) | 233,972 | 233,972 | ||
Share options (in shares) | 0 | 0 | ||
Marc Moses | ||||
Disclosure of transactions between related parties [line items] | ||||
Shareholding guidelines, percentage of salary | 300.00% | |||
Shareholding, percentage of salary | 1450.00% | 1450.00% | ||
Share interests (in shares) | 1,777,688 | 1,777,688 | ||
Share options (in shares) | 0 | 0 | ||
Group Managing Directors | ||||
Disclosure of transactions between related parties [line items] | ||||
Shareholding guidelines, percentage of salary | 250.00% | |||
Shareholding guidelines, number of shares (in shares) | 250,000 | |||
Long-Term Incentive Awards, With Performance Conditions | ||||
Disclosure of transactions between related parties [line items] | ||||
Period of continuing release of granted awards after Director ceases employment as a good leaver (up to) | 8 years | |||
Long-Term Incentive Awards, Without Performance Conditions | ||||
Disclosure of transactions between related parties [line items] | ||||
Period of tenure required for no performance conditions for Directors who cease employment as good leaver | 5 years | |||
Target payout | 50.00% | |||
Shareholding guidelines, percentage of salary | 400.00% | |||
Deferred Shares, Without Performance Conditions | ||||
Disclosure of transactions between related parties [line items] | ||||
Award vesting period | 5 years | |||
Deferred Shares, Without Performance Conditions | Noel Quinn | ||||
Disclosure of transactions between related parties [line items] | ||||
Share options (in shares) | 390,806 | 390,806 | ||
Deferred Shares, Without Performance Conditions | John Flint | ||||
Disclosure of transactions between related parties [line items] | ||||
Share options (in shares) | 372,335 | 372,335 | ||
Deferred Shares, Without Performance Conditions | Ewen Stevenson | ||||
Disclosure of transactions between related parties [line items] | ||||
Share options (in shares) | 945,921 | 945,921 | ||
Deferred Shares, Without Performance Conditions | Marc Moses | ||||
Disclosure of transactions between related parties [line items] | ||||
Share options (in shares) | 569,173 | 569,173 | ||
Deferred Shares, With Performance Conditions | Noel Quinn | ||||
Disclosure of transactions between related parties [line items] | ||||
Share options (in shares) | 0 | 0 | ||
Deferred Shares, With Performance Conditions | John Flint | ||||
Disclosure of transactions between related parties [line items] | ||||
Share options (in shares) | 788,933 | 788,933 | ||
Deferred Shares, With Performance Conditions | Ewen Stevenson | ||||
Disclosure of transactions between related parties [line items] | ||||
Share options (in shares) | 0 | 0 | ||
Deferred Shares, With Performance Conditions | Marc Moses | ||||
Disclosure of transactions between related parties [line items] | ||||
Share options (in shares) | 1,252,464 | 1,252,464 | ||
Shares delivered to executive Directors as part of the FPA | ||||
Disclosure of transactions between related parties [line items] | ||||
Retention period | 5 years | |||
Shares delivered as part of annual incentive award | ||||
Disclosure of transactions between related parties [line items] | ||||
Retention period | 1 year |
Report of Directors Corporat_12
Report of Directors Corporate Governance - Executive Directors' interests in share options (Details) | Mar. 13, 2019GBP (£)shares | Aug. 05, 2019shares | Dec. 31, 2019GBP (£)shares£ / shares | Dec. 31, 2018shares | Feb. 24, 2019£ / shares | Nov. 30, 2018£ / shares | Feb. 28, 2017£ / shares |
Disclosure of transactions between related parties [line items] | |||||||
Share options outstanding at beginning of period (in shares) | 57,065,000 | 57,065,000 | 64,670,000 | ||||
Share options granted (in shares) | 32,130,000 | 20,501,000 | |||||
Share options exercised (in shares) | 11,806,000 | 23,260,000 | |||||
Share options outstanding at end of period (in shares) | 65,060,000 | 57,065,000 | |||||
Share price on date of grant (in gbp per share) | £ / shares | £ 5.919 | £ 6.235 | £ 6.643 | £ 6.503 | |||
Savings-related Share Option Plans | |||||||
Disclosure of transactions between related parties [line items] | |||||||
Exercise price discount | 20.00% | 20.00% | |||||
Employee monthly contribution amount | £ | £ 500 | ||||||
Bottom of range | Savings-related Share Option Plans | |||||||
Disclosure of transactions between related parties [line items] | |||||||
Award vesting period | 3 years | ||||||
Top of range | Savings-related Share Option Plans | |||||||
Disclosure of transactions between related parties [line items] | |||||||
Award vesting period | 5 years | ||||||
John Flint | |||||||
Disclosure of transactions between related parties [line items] | |||||||
Share options outstanding at end of period (in shares) | 5,505 | ||||||
John Flint | 21 Sep 18 | |||||||
Disclosure of transactions between related parties [line items] | |||||||
Exercise price (in gbp per share) | £ | £ 5.4490 | ||||||
Share options outstanding at beginning of period (in shares) | 5,505 | 5,505 | |||||
Share options granted (in shares) | 0 | ||||||
Share options exercised (in shares) | 0 | ||||||
Share options outstanding at end of period (in shares) | 5,505 | 5,505 | |||||
John Flint | 22 Sep 15 | |||||||
Disclosure of transactions between related parties [line items] | |||||||
Exercise price (in gbp per share) | £ | £ 6.201 | £ 4.0472 | |||||
Share options outstanding at beginning of period (in shares) | 4,447 | 4,447 | |||||
Share options exercised (in shares) | 4,447 | 4,447 | |||||
Share options outstanding at end of period (in shares) | 0 | 4,447 |
Report of Directors Corporat_13
Report of Directors Corporate Governance - Non Executive Directors' Fees and Benefits (Details) - GBP (£) | 7 Months Ended | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of transactions between related parties [line items] | |||
Fees | £ 6,425,000 | £ 6,039,000 | |
Benefits | 481,000 | 305,000 | |
Total | £ 6,906,000 | 6,344,000 | |
Travel allowance | £ 4,000 | ||
Tax rate | 45.00% | ||
Total non-executive directors | |||
Disclosure of transactions between related parties [line items] | |||
Fees | £ 5,037,000 | 4,528,000 | |
Benefits | 377,000 | 229,000 | |
Total | 5,414,000 | 4,757,000 | |
Kathleen Casey | |||
Disclosure of transactions between related parties [line items] | |||
Fees | 223,000 | 171,000 | |
Benefits | 9,000 | 23,000 | |
Total | 232,000 | 194,000 | |
Henri de Castries | |||
Disclosure of transactions between related parties [line items] | |||
Fees | 194,000 | 161,000 | |
Benefits | 4,000 | 4,000 | |
Total | 198,000 | 165,000 | |
Laura Cha | |||
Disclosure of transactions between related parties [line items] | |||
Fees | 298,000 | 255,000 | |
Benefits | 0 | 13,000 | |
Total | 298,000 | 268,000 | |
Fees paid for additional positions held | 104,000 | 80,000 | |
Lord Evans of Weardale (retired on 12 April 2019) | |||
Disclosure of transactions between related parties [line items] | |||
Fees | 55,000 | 200,000 | |
Benefits | 24,000 | 2,000 | |
Total | 79,000 | 202,000 | |
Irene Lee | |||
Disclosure of transactions between related parties [line items] | |||
Fees | 454,000 | 361,000 | |
Benefits | 3,000 | 5,000 | |
Total | 457,000 | 366,000 | |
Fees paid for additional positions held | 260,000 | 210,000 | |
José Antonio Meade Kuribreña | |||
Disclosure of transactions between related parties [line items] | |||
Fees | 157,000 | 0 | |
Benefits | 2,000 | 0 | |
Total | 159,000 | 0 | |
Heidi Miller | |||
Disclosure of transactions between related parties [line items] | |||
Fees | 625,000 | 573,000 | |
Benefits | 2,000 | 9,000 | |
Total | 627,000 | 582,000 | |
Fees paid for additional positions held | 431,000 | 412,000 | |
David Nish | |||
Disclosure of transactions between related parties [line items] | |||
Fees | 230,000 | 187,000 | |
Benefits | 16,000 | 11,000 | |
Total | 246,000 | 198,000 | |
Sir Jonathan Symonds | |||
Disclosure of transactions between related parties [line items] | |||
Fees | 638,000 | 653,000 | |
Benefits | 21,000 | 1,000 | |
Total | 659,000 | 654,000 | |
Jackson Tai | |||
Disclosure of transactions between related parties [line items] | |||
Fees | 398,000 | 228,000 | |
Benefits | 57,000 | 47,000 | |
Total | 455,000 | 275,000 | |
Mark Tucker | |||
Disclosure of transactions between related parties [line items] | |||
Fees | 1,500,000 | 1,500,000 | |
Benefits | 231,000 | 97,000 | |
Total | 1,731,000 | 1,597,000 | |
Life insurance benefits | 13,020 | ||
Healthcare insurance benefits | 19,126 | ||
Pauline van der Meer Mohr | |||
Disclosure of transactions between related parties [line items] | |||
Fees | 265,000 | 239,000 | |
Benefits | 8,000 | 17,000 | |
Total | £ 273,000 | £ 256,000 |
Report of Directors Corporat_14
Report of Directors Corporate Governance - Non-Executive Directors Interests in Shares (Details) | 12 Months Ended |
Dec. 31, 2019shares | |
Disclosure of transactions between related parties [line items] | |
Period after appointment to meet minimum shareholding guideline | 5 years |
Total non-executive directors | |
Disclosure of transactions between related parties [line items] | |
Period after appointment to meet minimum shareholding guideline | 5 years |
Kathleen Casey | |
Disclosure of transactions between related parties [line items] | |
Shareholding guidelines (number of shares) | 15,000 |
Share interests (number of shares) | 15,125 |
Laura Cha | |
Disclosure of transactions between related parties [line items] | |
Shareholding guidelines (number of shares) | 15,000 |
Share interests (number of shares) | 16,200 |
Henri de Castries | |
Disclosure of transactions between related parties [line items] | |
Shareholding guidelines (number of shares) | 15,000 |
Share interests (number of shares) | 19,251 |
Lord Evans of Weardale (retired on 12 April 2019) | |
Disclosure of transactions between related parties [line items] | |
Shareholding guidelines (number of shares) | 15,000 |
Share interests (number of shares) | 12,892 |
Irene Lee | |
Disclosure of transactions between related parties [line items] | |
Shareholding guidelines (number of shares) | 15,000 |
Share interests (number of shares) | 11,904 |
José Antonio Meade Kuribreña | |
Disclosure of transactions between related parties [line items] | |
Shareholding guidelines (number of shares) | 15,000 |
Share interests (number of shares) | 0 |
Heidi Miller | |
Disclosure of transactions between related parties [line items] | |
Shareholding guidelines (number of shares) | 15,000 |
Share interests (number of shares) | 15,700 |
David Nish | |
Disclosure of transactions between related parties [line items] | |
Shareholding guidelines (number of shares) | 15,000 |
Share interests (number of shares) | 50,000 |
Sir Jonathan Symonds | |
Disclosure of transactions between related parties [line items] | |
Shareholding guidelines (number of shares) | 15,000 |
Share interests (number of shares) | 43,821 |
Jackson Tai | |
Disclosure of transactions between related parties [line items] | |
Shareholding guidelines (number of shares) | 15,000 |
Share interests (number of shares) | 66,515 |
Mark Tucker | |
Disclosure of transactions between related parties [line items] | |
Shareholding guidelines (number of shares) | 15,000 |
Share interests (number of shares) | 307,352 |
Pauline van der Meer Mohr | |
Disclosure of transactions between related parties [line items] | |
Shareholding guidelines (number of shares) | 15,000 |
Share interests (number of shares) | 15,000 |
Uncategorized Items - hsbc-2019
Label | Element | Value | |
Other banking arrangements, classified as cash equivalents | ifrs-full_BankingArrangementsClassifiedAsCashEquivalents | $ 58,850,000,000 | |
Other banking arrangements, classified as cash equivalents | ifrs-full_BankingArrangementsClassifiedAsCashEquivalents | 74,702,000,000 | |
Other banking arrangements, classified as cash equivalents | ifrs-full_BankingArrangementsClassifiedAsCashEquivalents | 65,370,000,000 | |
Loans And Advances To Banks Of One Month Or Less | hsbc_LoansAndAdvancesToBanksOfOneMonthOrLess | 61,973,000,000 | |
Loans And Advances To Banks Of One Month Or Less | hsbc_LoansAndAdvancesToBanksOfOneMonthOrLess | 39,460,000,000 | |
Loans And Advances To Banks Of One Month Or Less | hsbc_LoansAndAdvancesToBanksOfOneMonthOrLess | 41,626,000,000 | |
Cash Collateral And Net Settlement Accounts | hsbc_CashCollateralAndNetSettlementAccounts | 10,900,000,000 | |
Cash Collateral And Net Settlement Accounts | hsbc_CashCollateralAndNetSettlementAccounts | 14,075,000,000 | |
Cash Collateral And Net Settlement Accounts | hsbc_CashCollateralAndNetSettlementAccounts | 12,376,000,000 | |
Short-term Investments And Deposits, Classified As Cash Equivalents | hsbc_ShorttermInvestmentsAndDepositsClassifiedAsCashEquivalents | 11,593,000,000 | |
Short-term Investments And Deposits, Classified As Cash Equivalents | hsbc_ShorttermInvestmentsAndDepositsClassifiedAsCashEquivalents | 21,685,000,000 | |
Short-term Investments And Deposits, Classified As Cash Equivalents | hsbc_ShorttermInvestmentsAndDepositsClassifiedAsCashEquivalents | 20,132,000,000 | |
Cumulative Effect Of New Accounting Principle In Period Of Adoption1 | hsbc_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption1 | (1,647,000,000) | [1] |
HSBC Holdings [Member] | |||
Loans And Advances To Banks Of One Month Or Less | hsbc_LoansAndAdvancesToBanksOfOneMonthOrLess | 2,964,000,000 | |
Loans And Advances To Banks Of One Month Or Less | hsbc_LoansAndAdvancesToBanksOfOneMonthOrLess | 4,548,000,000 | |
Loans And Advances To Banks Of One Month Or Less | hsbc_LoansAndAdvancesToBanksOfOneMonthOrLess | 102,000,000 | |
Cumulative Effect Of New Accounting Principle In Period Of Adoption1 | hsbc_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption1 | 890,000,000 | |
Short-term investments, classified as cash equivalents | ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents | 0 | |
Short-term investments, classified as cash equivalents | ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents | 0 | |
Short-term investments, classified as cash equivalents | ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents | 3,496,000,000 | |
Other equity interest [member] | |||
Equity | ifrs-full_Equity | 22,250,000,000 | |
Other equity interest [member] | HSBC Holdings [Member] | |||
Equity | ifrs-full_Equity | 22,107,000,000 | |
Reserve of cash flow hedges [member] | |||
Equity | ifrs-full_Equity | (222,000,000) | |
Non-controlling interests [member] | |||
Cumulative Effect Of New Accounting Principle In Period Of Adoption1 | hsbc_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption1 | (41,000,000) | [1] |
Equity | ifrs-full_Equity | 7,580,000,000 | |
Reserve of gains and losses on financial assets measured at fair value through other comprehensive income [member] | |||
Cumulative Effect Of New Accounting Principle In Period Of Adoption1 | hsbc_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption1 | (1,021,000,000) | [1],[2] |
Equity | ifrs-full_Equity | (1,371,000,000) | [2] |
Reserve of gains and losses on financial assets measured at fair value through other comprehensive income [member] | HSBC Holdings [Member] | |||
Cumulative Effect Of New Accounting Principle In Period Of Adoption1 | hsbc_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption1 | (59,000,000) | |
Retained earnings [member] | |||
Cumulative Effect Of New Accounting Principle In Period Of Adoption1 | hsbc_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption1 | (585,000,000) | [1],[3],[4] |
Retained earnings [member] | HSBC Holdings [Member] | |||
Cumulative Effect Of New Accounting Principle In Period Of Adoption1 | hsbc_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption1 | 949,000,000 | [5],[6] |
Issued capital [member] | HSBC Holdings [Member] | |||
Equity | ifrs-full_Equity | 10,160,000,000 | |
Reserve of exchange differences on translation [member] | |||
Equity | ifrs-full_Equity | (19,072,000,000) | |
Equity attributable to owners of parent [member] | |||
Cumulative Effect Of New Accounting Principle In Period Of Adoption1 | hsbc_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption1 | (1,606,000,000) | [1] |
Equity | ifrs-full_Equity | $ 188,644,000,000 | |
[1] | The impact of transitioning to IFRS 9 at 1 January 2018 on the consolidated financial statements of HSBC was a decrease in net assets of $1.6bn, arising from a decrease of $2.2bn from additional impairment allowances, a decrease of $0.9bn from our associates reducing their net assets, an increase of $1.1bn from the remeasurement of financial assets and liabilities as a consequence of classification changes and an increase in net deferred tax assets of $0.4bn. | ||
[2] | The $350m at 31 December 2017 represents the IAS 39 available-for-sale fair value reserve as at 31 December 2017. | ||
[3] | At 31 December 2019, retained earnings included 432,108,782 treasury shares (2018: 379,926,645; 2017: 360,590,019). In addition, treasury shares are also held within HSBC’s Insurance business retirement funds for the benefit of policyholders or beneficiaries within employee trusts for the settlement of shares expected to be delivered under employee share schemes or bonus plans, and the market-making activities in Global Markets. | ||
[4] | Cumulative goodwill amounting to $5,138m has been charged against reserves in respect of acquisitions of subsidiaries prior to 1 January 1998, including $3,469m charged against the merger reserve arising on the acquisition of HSBC Bank plc. The balance of $1,669m has been charged against retained earnings. | ||
[5] | At 31 December 2019, retained earnings included 326,191,804 ($2,543m) of treasury shares (2018: 326,503,319 ($2,546m); 2017: 326,843,840 ($2,542m)). | ||
[6] | HSBC Holdings distributable reserves at 31 December 2019 of $31,656m (2018: $30,705m) represents realised profits for the year included in retained earnings of $11,516m (2018: $14,974m) and in merger reserve of $15,731m (2018: $15,731m). The distributable reserves are lower than retained earnings of $62,484m (2018: $61,434m). In 2018, $44,893m (2019: nil) represented income generated from restructuring the Group’s Asia operation to meet resolution and recovery requirements, which does not form part of distributable reserves. |