Cover
Cover | 6 Months Ended |
Jun. 30, 2022 | |
Cover [Abstract] | |
Document Type | 6-K |
Entity Registrant Name | HSBC Holdings plc |
Entity Central Index Key | 0001089113 |
Document Period End Date | Jun. 30, 2022 |
Current Fiscal Year End Date | --12-31 |
Document Fiscal Year Focus | 2022 |
Document Fiscal Period Focus | Q2 |
Amendment Flag | false |
Consolidated income statement
Consolidated income statement - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2022 | Dec. 31, 2021 | Jun. 30, 2021 | |
Profit or loss [abstract] | |||
Net interest income | $ 14,451 | $ 13,391 | $ 13,098 |
– interest income | 20,855 | 18,228 | 17,960 |
– interest expense | (6,404) | (4,837) | (4,862) |
Net fee income | 6,064 | 6,423 | 6,674 |
– fee income | 7,949 | 8,330 | 8,458 |
– fee expense | (1,885) | (1,907) | (1,784) |
Net income from financial instruments held for trading or managed on a fair value basis | 4,921 | 3,560 | 4,184 |
Net income/(expense) from assets and liabilities of insurance businesses, including related derivatives, measured at fair value through profit or loss | (3,051) | 1,258 | 2,795 |
Change in fair value of designated debt and related derivatives | (158) | (115) | (67) |
Changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss | 68 | 250 | 548 |
Gains less losses from financial investments | 21 | 136 | 433 |
Net insurance premium income | 7,646 | 5,207 | 5,663 |
Other operating income | 723 | 347 | 155 |
Total operating income | 30,685 | 30,457 | 33,483 |
Net insurance claims and benefits paid and movement in liabilities to policyholders | (5,449) | (6,456) | (7,932) |
Net operating income before change in expected credit losses and other credit impairment charges | 25,236 | 24,001 | 25,551 |
Change in expected credit losses and other credit impairment charges | (1,090) | 209 | 719 |
Net operating income | 24,146 | 24,210 | 26,270 |
Employee compensation and benefits | (9,071) | (9,132) | (9,610) |
General and administrative expenses | (5,445) | (5,917) | (5,675) |
Depreciation and impairment of property, plant and equipment and right-of-use assets | (1,075) | (1,101) | (1,160) |
Amortisation and impairment of intangible assets | (828) | (796) | (642) |
Goodwill impairment | 0 | (587) | 0 |
Total operating expenses | (16,419) | (17,533) | (17,087) |
Operating profit | 7,727 | 6,677 | 9,183 |
Share of profit in associates and joint ventures | 1,449 | 1,390 | 1,656 |
Profit before tax | 9,176 | 8,067 | 10,839 |
Tax credit/(charge) | 39 | (1,796) | (2,417) |
Profit for the period | 9,215 | 6,271 | 8,422 |
Attributable to: | |||
– ordinary shareholders of the parent company | 8,289 | 5,331 | 7,276 |
– preference shareholders of the parent company | 0 | 0 | 7 |
– other equity holders | 626 | 637 | 666 |
– non-controlling interests | 300 | 303 | 473 |
Profit for the period | $ 9,215 | $ 6,271 | $ 8,422 |
Basic earnings per ordinary share (in dollars per share) | $ 0.42 | $ 0.26 | $ 0.36 |
Diluted earnings per ordinary share (in dollars per share) | $ 0.41 | $ 0.26 | $ 0.36 |
Consolidated statement of compr
Consolidated statement of comprehensive income - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2022 | Dec. 31, 2021 | Jun. 30, 2021 | |
Statement of comprehensive income [abstract] | |||
Profit for the period | $ 9,215 | $ 6,271 | $ 8,422 |
Items that will be reclassified subsequently to profit or loss when specific conditions are met: | |||
Debt instruments at fair value through other comprehensive income | (4,907) | (771) | (1,368) |
– fair value losses | (6,328) | (878) | (1,392) |
– fair value gains transferred to the income statement on disposal | (53) | (89) | (375) |
– expected credit recoveries/(losses) recognised in the income statement | 20 | (23) | (26) |
– income taxes | 1,454 | 219 | 425 |
Cash flow hedges | (2,063) | (426) | (238) |
– fair value gains/(losses) | (1,646) | (282) | 877 |
– fair value gains reclassified to the income statement | (1,127) | (319) | (1,195) |
– income taxes and other movements | 710 | 175 | 80 |
Share of other comprehensive income/(expense) of associates and joint ventures | (141) | (1) | 104 |
– share for the period | (141) | (1) | 104 |
Exchange differences | (8,521) | (1,944) | (449) |
Items that will not be reclassified subsequently to profit or loss: | |||
Remeasurement of defined benefit asset/(liability) | 95 | 473 | (747) |
– before income taxes | (132) | 668 | (775) |
– income taxes | 227 | (195) | 28 |
Changes in fair value of financial liabilities designated at fair value upon initial recognition arising from changes in own credit risk | 2,263 | 376 | 155 |
– before income taxes | 3,030 | 514 | (2) |
– income taxes | (767) | (138) | 157 |
Equity instruments designated at fair value through other comprehensive income | 158 | (98) | (348) |
– fair value gains/(losses) | 158 | (98) | (345) |
– income taxes | 0 | 0 | (3) |
Effects of hyperinflation | 417 | 149 | 166 |
Other comprehensive expense for the period, net of tax | (12,699) | (2,242) | (2,725) |
Total comprehensive (expense)/income for the period | (3,484) | 4,029 | 5,697 |
Attributable to: | |||
– ordinary shareholders of the parent company | (4,246) | 3,153 | 4,612 |
– preference shareholders of the parent company | 0 | 0 | 7 |
– other equity holders | 626 | 637 | 666 |
– non-controlling interests | 136 | 239 | 412 |
Total comprehensive (expense)/income for the period | $ (3,484) | $ 4,029 | $ 5,697 |
Consolidated balance sheet
Consolidated balance sheet - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Assets | ||
Cash and balances at central banks | $ 363,608 | $ 403,018 |
Items in the course of collection from other banks | 8,073 | 4,136 |
Hong Kong Government certificates of indebtedness | 43,866 | 42,578 |
Trading assets | 217,350 | 248,842 |
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | 45,873 | 49,804 |
Derivatives | 262,923 | 196,882 |
Loans and advances to banks | 96,429 | 83,136 |
Loans and advances to customers | 1,028,356 | 1,045,814 |
Reverse repurchase agreements – non-trading | 244,451 | 241,648 |
Financial investments | 430,796 | 446,274 |
Prepayments, accrued income and other assets | 185,823 | 139,982 |
Current tax assets | 1,151 | 970 |
Interests in associates and joint ventures | 29,446 | 29,609 |
Goodwill and intangible assets | 21,625 | 20,622 |
Deferred tax assets | 5,650 | 4,624 |
Total assets | 2,985,420 | 2,957,939 |
Liabilities | ||
Hong Kong currency notes in circulation | 43,866 | 42,578 |
Deposits by banks | 105,275 | 101,152 |
Customer accounts | 1,651,301 | 1,710,574 |
Repurchase agreements – non-trading | 129,707 | 126,670 |
Items in the course of transmission to other banks | 9,673 | 5,214 |
Trading liabilities | 80,569 | 84,904 |
Financial liabilities designated at fair value | 126,006 | 145,502 |
Derivatives | 251,469 | 191,064 |
Debt securities in issue | 87,944 | 78,557 |
Accruals, deferred income and other liabilities | 163,600 | 123,778 |
Current tax liabilities | 685 | 698 |
Liabilities under insurance contracts | 113,130 | 112,745 |
Provisions | 1,900 | 2,566 |
Deferred tax liabilities | 2,894 | 4,673 |
Subordinated liabilities | 20,711 | 20,487 |
Total liabilities | 2,788,730 | 2,751,162 |
Equity | ||
Called up share capital | 10,188 | 10,316 |
Share premium account | 14,662 | 14,602 |
Other equity instruments | 21,691 | 22,414 |
Other reserves | (8,576) | 6,460 |
Retained earnings | 150,417 | 144,458 |
Total shareholders’ equity | 188,382 | 198,250 |
Non-controlling interests | 8,308 | 8,527 |
Total equity | 196,690 | 206,777 |
Total liabilities and equity | $ 2,985,420 | $ 2,957,939 |
Consolidated statement of cash
Consolidated statement of cash flows - USD ($) $ in Millions | 6 Months Ended | |||
Jun. 30, 2022 | Dec. 31, 2021 | Jun. 30, 2021 | ||
Cash flows from operating activities | ||||
Profit before tax | $ 9,176 | $ 8,067 | $ 10,839 | |
Adjustments for non-cash items: | ||||
Depreciation, amortisation and impairment | 1,903 | 2,484 | 1,802 | |
Net (gain)/loss from investing activities | 174 | (162) | (485) | |
Share of profits in associates and joint ventures | (1,449) | (1,390) | (1,656) | |
Gain on acquisition of subsidiary | (71) | 0 | 0 | |
Change in expected credit losses gross of recoveries and other credit impairment charges | 1,246 | (35) | (484) | |
Provisions including pensions | 208 | 762 | 301 | |
Share-based payment expense | 177 | 213 | 254 | |
Other non-cash items included in profit before tax | (866) | 305 | 205 | |
Change in operating assets | 15,987 | (232) | (3,811) | |
Change in operating liabilities | (27,501) | 22,161 | 49,015 | |
Elimination of exchange differences | [1] | 49,417 | 13,725 | 5,212 |
Dividends received from associates | 60 | 798 | 10 | |
Contributions paid to defined benefit plans | (102) | (167) | (342) | |
Tax paid | (1,264) | (2,080) | (997) | |
Net cash from operating activities | 47,095 | 44,449 | 59,863 | |
Cash flows from investing activities | ||||
Purchase of financial investments | (271,382) | (229,844) | (263,198) | |
Proceeds from the sale and maturity of financial investments | 248,983 | 222,594 | 298,596 | |
Net cash flows from the purchase and sale of property, plant and equipment | (590) | (711) | (375) | |
Net cash flows from (purchase)/disposal of customer and loan portfolios | (3,756) | 1,996 | 1,063 | |
Net investment in intangible assets | (1,240) | (1,468) | (1,011) | |
Net cash flow on (acquisition)/disposal of subsidiaries, businesses, associates and joint ventures | (525) | (22) | (84) | |
Net cash from investing activities | (28,510) | (7,455) | 34,991 | |
Cash flows from financing activities | ||||
Issue of ordinary share capital and other equity instruments | 0 | 0 | 1,996 | |
Cancellation of shares | (1,840) | (707) | 0 | |
Net sales/(purchases) of own shares for market-making and investment purposes | (443) | (1,387) | 1 | |
Purchase of non-controlling interest in subsidiary | (197) | 0 | 0 | |
Redemption of preference shares and other equity instruments | (723) | 0 | (3,450) | |
Subordinated loan capital issued | 2,659 | 0 | 0 | |
Subordinated loan capital repaid | (11) | (12) | (852) | |
Dividends paid to shareholders of the parent company and non-controlling interests | (4,497) | (2,262) | (4,121) | |
Net cash from financing activities | (5,052) | (4,368) | (6,426) | |
Net increase in cash and cash equivalents | 13,533 | 32,626 | 88,428 | |
Cash and cash equivalents at the beginning of the period | 574,032 | 551,933 | 468,323 | |
Exchange differences in respect of cash and cash equivalents | (40,243) | (10,527) | (4,818) | |
Cash and cash equivalents at the end of the period | $ 547,322 | $ 574,032 | $ 551,933 | |
[1]Adjustments 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. |
Consolidated statement of cas_2
Consolidated statement of cash flows (Parenthetical) - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2022 | Dec. 31, 2021 | Jun. 30, 2021 | |
Statement of cash flows [abstract] | |||
Interest received | $ 22,011 | $ 20,414 | $ 19,761 |
Interest paid | 7,146 | 6,143 | 6,552 |
Dividends received | $ 800 | $ 1,097 | $ 801 |
Consolidated statement of chang
Consolidated statement of changes in equity - USD ($) $ in Millions | Total | Total share- holders’ equity | Called up share capital and share premium | Other equity instru- ments | Retained earnings | Financial assets at FVOCI reserve | Cash flow hedging reserve | Foreign exchange reserve | Merger and other reserves | Non- controlling interests | |||||
Equity beginning of period at Dec. 31, 2020 | $ 204,995 | $ 196,443 | $ 24,624 | $ 22,414 | $ 140,572 | $ 1,816 | $ 457 | $ (20,375) | $ 26,935 | $ 8,552 | |||||
Profit for the period | 8,422 | 7,949 | 7,949 | 473 | |||||||||||
Other comprehensive expense for the period, net of tax | (2,725) | (2,664) | (337) | (1,629) | (234) | (464) | (61) | ||||||||
– debt instruments at fair value through other comprehensive income | (1,368) | (1,351) | (1,351) | (17) | |||||||||||
– equity instruments designated at fair value through other comprehensive income | (348) | (278) | (278) | (70) | |||||||||||
– cash flow hedges | (238) | (234) | (234) | (4) | |||||||||||
Changes in fair value of financial liabilities designated at fair value upon initial recognition arising from changes in own credit risk | 155 | 155 | 155 | ||||||||||||
– remeasurement of defined benefit asset/liability | (747) | (762) | (762) | 15 | |||||||||||
– share of other comprehensive income of associates and joint ventures | 104 | 104 | 104 | ||||||||||||
– effects of hyperinflation | 166 | 166 | 166 | ||||||||||||
– exchange differences | (449) | (464) | (464) | 15 | |||||||||||
Total comprehensive (expense)/income for the period | 5,697 | 5,285 | 7,612 | (1,629) | (234) | (464) | 412 | ||||||||
Shares issued under employee remuneration and share plans | 17 | 17 | 352 | (335) | |||||||||||
Dividends to shareholders | (4,121) | (3,732) | (666) | (3,732) | (389) | ||||||||||
Redemption of securities | [1] | (2,000) | (2,000) | (2,000) | |||||||||||
Cost of share-based payment arrangements | 254 | 254 | 254 | ||||||||||||
Other movements | (74) | (45) | (48) | 3 | (29) | ||||||||||
Capital securities issued | [2] | 1,996 | 1,996 | 2,000 | (4) | ||||||||||
Equity end of period at Jun. 30, 2021 | 206,764 | 198,218 | 24,976 | 22,414 | 144,319 | 190 | 223 | (20,839) | 26,935 | 8,546 | |||||
Profit for the period | 6,271 | 5,968 | 5,968 | 303 | |||||||||||
Other comprehensive expense for the period, net of tax | (2,242) | (2,178) | 998 | (826) | (420) | (1,930) | (64) | ||||||||
– debt instruments at fair value through other comprehensive income | (771) | (754) | (754) | (17) | |||||||||||
– equity instruments designated at fair value through other comprehensive income | (98) | (72) | (72) | (26) | |||||||||||
– cash flow hedges | (426) | (420) | (420) | (6) | |||||||||||
Changes in fair value of financial liabilities designated at fair value upon initial recognition arising from changes in own credit risk | 376 | 376 | 376 | ||||||||||||
– remeasurement of defined benefit asset/liability | 473 | 474 | 474 | (1) | |||||||||||
– share of other comprehensive income of associates and joint ventures | (1) | (1) | (1) | ||||||||||||
– effects of hyperinflation | 149 | 149 | 149 | ||||||||||||
– exchange differences | (1,944) | (1,930) | (1,930) | (14) | |||||||||||
Total comprehensive (expense)/income for the period | 4,029 | 3,790 | 6,966 | (826) | (420) | (1,930) | 239 | ||||||||
Shares issued under employee remuneration and share plans | 1 | 1 | 2 | (1) | |||||||||||
Dividends to shareholders | (2,262) | (2,058) | (2,058) | (204) | |||||||||||
Cost of share-based payment arrangements | 213 | 213 | 213 | ||||||||||||
Cancellation of shares | [3] | (2,004) | (2,004) | (60) | (2,004) | 60 | |||||||||
Other movements | 36 | 90 | 88 | 2 | (54) | ||||||||||
Transfer | 0 | [1] | 0 | [1] | (3,065) | [4] | 3,065 | [4] | |||||||
Equity end of period at Dec. 31, 2021 | 206,777 | 198,250 | 24,918 | 22,414 | 144,458 | (634) | (197) | (22,769) | 30,060 | 8,527 | |||||
Profit for the period | 9,215 | 8,915 | 8,915 | 300 | |||||||||||
Other comprehensive expense for the period, net of tax | (12,699) | (12,535) | 2,637 | (4,723) | (2,035) | (8,414) | (164) | ||||||||
– debt instruments at fair value through other comprehensive income | (4,907) | (4,844) | (4,844) | (63) | |||||||||||
– equity instruments designated at fair value through other comprehensive income | 158 | 121 | 121 | 37 | |||||||||||
– cash flow hedges | (2,063) | (2,035) | (2,035) | (28) | |||||||||||
Changes in fair value of financial liabilities designated at fair value upon initial recognition arising from changes in own credit risk | 2,263 | 2,263 | 2,263 | ||||||||||||
– remeasurement of defined benefit asset/liability | 95 | 98 | 98 | (3) | |||||||||||
– share of other comprehensive income of associates and joint ventures | (141) | (141) | (141) | ||||||||||||
– effects of hyperinflation | 417 | 417 | 417 | ||||||||||||
– exchange differences | (8,521) | (8,414) | (8,414) | (107) | |||||||||||
Total comprehensive (expense)/income for the period | (3,484) | (3,620) | 11,552 | (4,723) | (2,035) | (8,414) | 136 | ||||||||
Shares issued under employee remuneration and share plans | 0 | 0 | 65 | (65) | |||||||||||
Dividends to shareholders | (4,497) | (4,202) | (626) | (4,202) | (295) | ||||||||||
Redemption of securities | (723) | (723) | (723) | ||||||||||||
Cost of share-based payment arrangements | 177 | 177 | 177 | ||||||||||||
Cancellation of shares | [3] | (1,000) | (1,000) | (133) | (1,000) | 133 | |||||||||
Other movements | (560) | (500) | (503) | 3 | (60) | ||||||||||
Equity end of period at Jun. 30, 2022 | $ 196,690 | $ 188,382 | $ 24,850 | $ 21,691 | $ 150,417 | $ (5,354) | $ (2,232) | $ (31,183) | $ 30,193 | $ 8,308 | |||||
[1]During 2021, HSBC Holdings redeemed $2,000m 6.875% perpetual subordinated contingent convertible securities.[2]In 2021, HSBC Holdings issued $2,000m of additional tier 1 instruments on which there were $4m of external issue costs.[3]HSBC announced a share buy-back of $2.0bn in 2021 which was completed in April 2022. Additionally, HSBC announced a share buy-back of up to $1.0bn in February 2022, which concluded on 28 July 2022. At 30 June 2022, 264,942,444 ordinary shares had been purchased and cancelled, representing a nominal value of $133m, which has been transferred from share capital to capital redemption reserve within merger and other reserves.[4]Permitted transfers from the merger reserve to retained earnings were made when the investment in HSBC Overseas Holdings (UK) Limited was previously impaired. |
Consolidated statement of cha_2
Consolidated statement of changes in equity (Parenthetical) - USD ($) | 6 Months Ended | 12 Months Ended | |||||
Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | Apr. 30, 2022 | Feb. 28, 2022 | |||
Reduction of issued capital | $ 723,000,000 | $ 2,000,000,000 | [1] | ||||
Cancellation of shares | [2] | $ (1,000,000,000) | |||||
HSBC Holdings | Contingent convertible securities | |||||||
Reduction of issued capital | $ 2,000,000,000 | ||||||
Other equity instruments interest rate | 6.875% | ||||||
HSBC Holdings | Tier 1 Instruments | |||||||
Notional amount | $ 2,000,000,000 | ||||||
Payments for debt issue costs | $ 4,000,000 | ||||||
October 2021 Share Buy Back Program | |||||||
Authorized amount for share buy-back program | $ 2,000,000,000 | ||||||
February 2022 Share Buy Back Program | |||||||
Authorized amount for share buy-back program | $ 1,000,000,000 | ||||||
Stock repurchased (in shares) | 264,942,444 | ||||||
Cancellation of shares | $ 133,000,000 | ||||||
[1]During 2021, HSBC Holdings redeemed $2,000m 6.875% perpetual subordinated contingent convertible securities.[2]HSBC announced a share buy-back of $2.0bn in 2021 which was completed in April 2022. Additionally, HSBC announced a share buy-back of up to $1.0bn in February 2022, which concluded on 28 July 2022. At 30 June 2022, 264,942,444 ordinary shares had been purchased and cancelled, representing a nominal value of $133m, which has been transferred from share capital to capital redemption reserve within merger and other reserves. |
Basis of preparation and signif
Basis of preparation and significant accounting policies | 6 Months Ended |
Jun. 30, 2022 | |
Corporate Information And Statement Of IFRS Compliance [Abstract] | |
Basis of preparation and significant accounting policies | 1 Basis of preparation and significant accounting policies (a) Compliance with International Financial Reporting Standards Our interim condensed consolidated financial statements have been prepared on the basis of the policies set out in the 2021 annual financial statements and in accordance with IAS 34 ‘Interim Financial Reporting’ as adopted by the UK, IAS 34 ‘Interim Financial Reporting’ as issued by the International Accounting Standards Board (‘IASB’), IAS 34 ‘Interim Financial Reporting’ as adopted by the EU, and the Disclosure Guidance and Transparency Rules sourcebook of the UK’s Financial Conduct Authority. Therefore, they include an explanation of events and transactions that are significant to an understanding of the changes in HSBC’s financial position and performance since the end of 2021. These financial statements should be read in conjunction with the Annual Report and Accounts 2021, which were prepared in accordance with UK-adopted international accounting standards in conformity with the requirements of the Companies Act 2006 and international financial reporting standards adopted pursuant to Regulation (EC) No 1606/2002 as it applies in the European Union. These financial statements were also prepared in accordance with International Financial Reporting Standards (‘IFRSs’) as issued by the IASB, including interpretations issued by the IFRS Interpretations Committee. At 30 June 2022, there were no unendorsed standards effective for the half-year to 30 June 2022 affecting these financial statements, and there was no difference between IFRSs adopted by the UK, IFRSs as adopted by the EU, and IFRSs issued by the IASB in terms of their application to HSBC. Standards applied during the half-year to 30 June 2022 There were no new standards or amendments to standards that had an effect on these interim condensed financial statements. (b) Use of estimates and judgements Management believes that our critical accounting estimates and judgements are those that relate to impairment of amortised cost and FVOCI debt financial assets, the valuation of financial instruments, deferred tax assets, provisions, interests in associates, impairment of goodwill and non-financial assets, and post-employment benefit plans. Management’s judgement with respect to the recognition of a deferred tax asset on the historical tax losses of HSBC Holdings changed during the period and a deferred tax asset of $1.8bn was recognised at 1H22. Management’s view is that improved profit forecasts for the UK, which reflect higher market interest rates and expectations of future increases, as well as the results for 1H22, represent convincing evidence that sufficient future taxable profits will be available to support recognition of the deferred tax asset. The improved forecasts reduced the expected recovery period of these tax losses, reducing the estimation uncertainty such that recognition of a deferred tax asset was considered appropriate. Apart from the above deferred tax matter and estimates relating to ECL impairment, there were no material changes in the current period to any of the other critical accounting estimates and judgements disclosed in 2021, which are stated on pages 90 and 319 of the Annual Report and Accounts 2021. (c) Composition of the Group There were no material changes in the composition of the Group in the half-year to 30 June 2022. For further details of future business acquisitions and disposals, see Note 15 ‘Business acquisitions and disposals’. (d) Future accounting developments IFRS 17 ‘Insurance Contracts’ was issued in May 2017, with amendments to the standard issued in June 2020 and December 2021. It has been adopted in its entirety for use in the UK. IFRS 17 has been adopted by the EU subject to certain optional exemptions, except for the December 2021 requirements which are pending adoption. The standard sets out the requirements that an entity should apply in accounting for insurance contracts it issues and reinsurance contracts it holds. Following the amendments, IFRS 17 will be effective from 1 January 2023. The Group is in the process of implementing IFRS 17. Industry practice and interpretation of the standard are still developing. Therefore, the likely impact of its implementation remains uncertain. However, compared with the Group’s current accounting policy for insurance, there will be no present value of in-force long-term insurance business (‘PVIF’) asset recognised. Instead, the estimated future profit will be included in the measurement of the insurance contract liability as the contractual service margin and gradually recognised in revenue as services are provided over the duration of the insurance contract. (e) 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, capital requirements and capital resources. These considerations include stressed scenarios, as well as considering potential impacts from other top and emerging risks, and the related impact on profitability, capital and liquidity. The accounting policies that we applied for these interim condensed consolidated financial statements are consistent with those described on pages 318 to 328 of the Annual Report and Accounts 2021 |
Net fee income
Net fee income | 6 Months Ended |
Jun. 30, 2022 | |
Analysis of income and expense [abstract] | |
Net fee income | 2 Net fee income Half-year to 30 Jun 30 Jun 31 Dec 2022 2021 2021 $m $m $m Net fee income by product Funds under management 1,224 1,304 1,352 Cards 1,201 1,035 1,178 Credit facilities 790 827 800 Account services 720 714 738 Broking income 707 895 706 Unit trusts 408 603 485 Underwriting 257 576 441 Global custody 471 500 478 Remittances 394 361 414 Imports/exports 321 300 320 Insurance agency commission 163 176 165 Other 1,293 1,167 1,253 Fee income 7,949 8,458 8,330 Less: fee expense (1,885) (1,784) (1,907) Net fee income 6,064 6,674 6,423 Net fee income by global business Wealth and Personal Banking 2,619 3,042 2,852 Commercial Banking 1,919 1,786 1,853 Global Banking and Markets 1,526 1,857 1,746 Corporate Centre — (11) (28) |
Dividends
Dividends | 6 Months Ended |
Jun. 30, 2022 | |
Interim Financial Reporting [Abstract] | |
Dividends | 3 Dividends On 1 August 2022, the Directors approved an interim dividend for the 2022 half-year of $0.09 per ordinary share in respect of the financial year ending 31 December 2022. This distribution amounts to approximately $1,800m and will be payable on 29 September 2022. No liability is recognised in the financial statements in respect of these dividends. Dividends paid to shareholders of HSBC Holdings plc Half-year to 30 Jun 2022 30 Jun 2021 31 Dec 2021 Per share Total Settled in scrip Per share Total Settled in scrip Per share Total Settled in scrip $ $m $m $ $m $m $ $m $m Dividends paid on ordinary shares In respect of previous year: – interim dividend — — — 0.15 3,059 — — — — – second interim dividend 0.18 3,576 — — — — — — — In respect of current year: – interim dividend — — — — — — 0.07 1,421 — Total 0.18 3,576 — 0.15 3,059 — 0.07 1,421 — Total dividends on preference shares classified as equity (paid quarterly) 1 — — 4.99 7 — — Total coupons on capital securities classified as equity 626 666 637 Dividends to shareholders 4,202 3,732 2,058 1 HSBC Holdings called $1,450m 6.20% non-cumulative US dollar preference shares on 10 December 2020. The security was redeemed and cancelled on 13 January 2021. Total coupons on capital securities classified as equity Half-year to 30 Jun 30 Jun 31 Dec 2022 2021 2021 First call date Per security $m $m $m Perpetual subordinated contingent convertible securities 1 – $2,000m issued at 6.875% 2 Jun 2021 $68.750 — 69 — – $2,250m issued at 6.375% Sep 2024 $63.750 72 72 71 – $2,450m issued at 6.375% Mar 2025 $63.750 78 78 78 – $3,000m issued at 6.000% May 2027 $60.000 90 90 90 – $2,350m issued at 6.250% Mar 2023 $62.500 73 73 74 – $1,800m issued at 6.500% Mar 2028 $65.000 59 59 58 – $1,500m issued at 4.600% Dec 2030 $46.000 34 35 34 – $1,000m issued at 4.000% 3 Mar 2026 $40.000 20 — 20 – $1,000m issued at 4.700% 4 Mar 2031 $47.000 24 — 24 – €1,500m issued at 5.250% Sep 2022 €52.500 44 47 46 – €1,000m issued at 6.000% Sep 2023 €60.000 33 34 36 – €1,250m issued at 4.750% July 2029 €47.500 34 36 36 – £1,000m issued at 5.875% Sep 2026 £58.750 37 41 39 – SGD1,000m issued at 4.700% 5 Jun 2022 SGD47.000 14 18 17 – SGD750m issued at 5.000% Sep 2023 SGD50.000 14 14 14 Total 626 666 637 1 Discretionary coupons are paid twice a year on the perpetual subordinated contingent convertible securities, in denominations of 1,000 per security in each security’s issuance currency. 2 This security was called by HSBC Holdings on 15 April 2021 and was redeemed and cancelled on 1 June 2021. 3 This security was issued by HSBC Holdings on 9 March 2021. The first call date commences six calendar months prior to the reset date of 9 September 2026. 4 This security was issued by HSBC Holdings on 9 March 2021. The first call date commences six calendar months prior to the reset date of 9 September 2031. 5 This security was called by HSBC Holdings on 4 May 2022 and was redeemed and cancelled on 8 June 2022. |
Earnings per share
Earnings per share | 6 Months Ended |
Jun. 30, 2022 | |
Earnings per share [abstract] | |
Earnings per share | 4 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 ordinary shareholders of the parent company Half-year to 30 Jun 30 Jun 31 Dec 2022 2021 2021 $m $m $m Profit attributable to shareholders of the parent company 8,915 7,949 5,968 Dividend payable on preference shares classified as equity — (7) — Coupon payable on capital securities classified as equity (626) (666) (637) Profit attributable to ordinary shareholders of the parent company 8,289 7,276 5,331 Basic and diluted earnings per share Half-year to 30 Jun 2022 30 Jun 2021 31 Dec 2021 Profit Number Amount per share Profit Number Amount per share Profit Number Amount per share $m (millions) $ $m (millions) $ $m (millions) $ Basic 1 8,289 19,954 0.42 7,276 20,211 0.36 5,331 20,183 0.26 Effect of dilutive potential ordinary shares 130 97 103 Diluted 1 8,289 20,084 0.41 7,276 20,308 0.36 5,331 20,286 0.26 |
Segmental analysis
Segmental analysis | 6 Months Ended |
Jun. 30, 2022 | |
Operating Segments [Abstract] | |
Segmental analysis | 5 Segmental analysis The Group Chief Executive, supported by the rest of the Group Executive Committee (‘GEC’), 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. Therefore, we disclose these results as required by IFRSs. The 2021 adjusted performance information is presented on a constant currency basis. The income statements for the half-years to 30 June 2021 and 31 December 2021 are converted at the average rates of exchange for 2022, and the balance sheets at 30 June 2021 and 31 December 2021 at the prevailing rates of exchange on 30 June 2022. 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 We provide a comprehensive range of banking and related financial services to our customers in our three global businesses. The products and services offered to customers are organised by these global businesses: • Wealth and Personal Banking (‘WPB’) provides a full range of retail banking and wealth products to our customers from personal banking to ultra high net worth individuals. Typically, customer offerings include retail banking products, such as current and savings accounts, mortgages and personal loans, credit cards, debit cards and local and international payment services. We also provide wealth management services, including insurance and investment products, global asset management services, investment management and Private Wealth Solutions for customers with more sophisticated and international requirements. • Commercial Banking (‘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 customers access to products and services offered by other global businesses, such as Global Banking and Markets, which include foreign exchange products, raising capital on debt and equity markets and advisory services. • Global Banking and Markets (‘GBM’) 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. HSBC adjusted profit before tax and balance sheet data Half-year to 30 Jun 2022 Wealth and Personal Banking Commercial Global Corporate Total $m $m $m $m $m Net operating income/(expense) before change in expected credit losses and other credit impairment charges 1 10,922 7,217 7,841 (290) 25,690 – external 10,569 7,281 8,867 (1,027) 25,690 – inter-segment 353 (64) (1,026) 737 — – of which: net interest income/(expense) 7,658 5,007 2,296 (496) 14,465 Change in expected credit losses and other credit impairment (charges)/recoveries (573) (288) (227) (2) (1,090) Net operating income 10,349 6,929 7,614 (292) 24,600 Total operating expenses (7,411) (3,351) (4,735) 121 (15,376) Operating profit 2,938 3,578 2,879 (171) 9,224 Share of profit in associates and joint ventures 8 — — 1,441 1,449 Adjusted profit before tax 2,946 3,578 2,879 1,270 10,673 % % % % % Share of HSBC’s adjusted profit before tax 27.6 33.5 27.0 11.9 100.0 Adjusted cost efficiency ratio 67.9 46.4 60.4 41.7 59.9 Adjusted balance sheet data $m $m $m $m $m Loans and advances to customers (net) 475,464 348,253 204,097 542 1,028,356 Interests in associates and joint ventures 484 14 121 28,827 29,446 Total external assets 882,490 619,490 1,318,425 165,015 2,985,420 Customer accounts 836,026 479,680 335,033 562 1,651,301 HSBC adjusted profit before tax and balance sheet data (continued) Half-year to 30 Jun 2021 Wealth and Personal Banking Commercial Global Corporate Centre Total $m $m $m $m $m Net operating income/(expense) before change in expected credit losses and other credit impairment charges 1 10,980 6,353 7,518 (117) 24,734 – external 10,782 6,326 8,305 (679) 24,734 – inter-segment 198 27 (787) 562 — – of which: net interest income/(expense) 6,807 4,172 1,937 (374) 12,542 Change in expected credit losses and other credit impairment charges 38 228 405 4 675 Net operating income/(expense) 11,018 6,581 7,923 (113) 25,409 Total operating expenses (7,277) (3,371) (4,724) (148) (15,520) Operating profit/(loss) 3,741 3,210 3,199 (261) 9,889 Share of profit in associates and joint ventures 10 1 — 1,638 1,649 Adjusted profit before tax 3,751 3,211 3,199 1,377 11,538 % % % % % Share of HSBC’s adjusted profit before tax 32.5 27.8 27.7 12.0 100.0 Adjusted cost efficiency ratio 66.3 53.1 62.9 (126.5) 62.7 Adjusted balance sheet data $m $m $m $m $m Loans and advances to customers (net) 458,573 329,873 205,044 1,065 994,555 Interests in associates and joint ventures 467 15 121 27,315 27,918 Total external assets 859,383 581,741 1,164,916 184,436 2,790,476 Customer accounts 793,277 455,006 316,865 794 1,565,942 Half-year to 31 Dec 2021 Net operating income/(expense) before change in expected credit losses and other credit impairment charges 1 10,439 6,556 6,878 (296) 23,577 – external 10,354 6,460 7,676 (913) 23,577 – inter-segment 85 96 (798) 617 — – of which: net interest income/(expense) 6,955 4,387 2,032 (353) 13,021 Change in expected credit losses and other credit impairment (charges)/recoveries 215 40 (80) (1) 174 Net operating income/(expense) 10,654 6,596 6,798 (297) 23,751 Total operating expenses (7,574) (3,355) (4,831) 313 (15,447) Operating profit 3,080 3,241 1,967 16 8,304 Share of profit in associates and joint ventures 24 — — 1,353 1,377 Adjusted profit before tax 3,104 3,241 1,967 1,369 9,681 % % % % % Share of HSBC’s adjusted profit before tax 32.1 33.5 20.3 14.1 100.0 Adjusted cost efficiency ratio 72.6 51.2 70.2 105.7 65.5 Adjusted balance sheet data $m $m $m $m $m Loans and advances to customers (net) 462,452 332,710 198,854 686 994,702 Interests in associates and joint ventures 490 13 119 27,938 28,560 Total external assets 889,349 589,834 1,157,478 175,688 2,812,349 Customer accounts 820,564 481,781 324,239 590 1,627,174 1 Net operating income before change in expected credit losses and other credit impairment charges, 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: Half-year to 30 Jun 2022 30 Jun 2021 31 Dec 2021 $m $m $m Reported external net operating income by country/territory 1 25,236 25,551 24,001 – UK 6,554 5,610 5,299 – Hong Kong 6,837 7,476 6,769 – US 1,964 1,993 1,802 – France 1,158 1,228 951 – other countries/territories 8,723 9,244 9,180 1 Net operating income before change in expected credit losses and other credit impairment charges, also referred to as revenue. Adjusted results reconciliation Half-year to 30 Jun 2022 30 Jun 2021 31 Dec 2021 Adjusted Significant items Reported Adjusted Currency translation Significant items Reported Adjusted Currency translation Significant items Reported $m $m $m $m $m $m $m $m $m $m $m Revenue 1 25,690 (454) 25,236 24,734 1,069 (252) 25,551 23,577 711 (287) 24,001 ECL (1,090) — (1,090) 675 44 — 719 174 35 — 209 Operating expenses (15,376) (1,043) (16,419) (15,520) (749) (818) (17,087) (15,447) (510) (1,576) (17,533) Share of profit in associates and joint ventures 1,449 — 1,449 1,649 7 — 1,656 1,377 13 — 1,390 Profit before tax 10,673 (1,497) 9,176 11,538 371 (1,070) 10,839 9,681 249 (1,863) 8,067 1 Net operating income before change in expected credit losses and other credit impairment charges, also referred to as revenue. Adjusted balance sheet reconciliation At 30 Jun 2022 At 31 Dec 2021 Reported and adjusted Adjusted Currency translation Reported $m $m $m $m Loans and advances to customers (net) 1,028,356 994,702 51,112 1,045,814 Interests in associates and joint ventures 29,446 28,560 1,049 29,609 Total external assets 2,985,420 2,812,349 145,590 2,957,939 Customer accounts 1,651,301 1,627,174 83,400 1,710,574 Adjusted profit reconciliation Half-year to 30 Jun 2022 30 Jun 2021 31 Dec 2021 $m $m $m Adjusted profit before tax 10,673 11,538 9,681 Significant items (1,497) (1,070) (1,863) – customer redress programmes (revenue) (14) 18 (7) – disposals, acquisitions and investment in new businesses (revenue) 1 (288) — — – fair value movements on financial instruments 2 (220) (194) (48) – restructuring and other related costs (revenue) 3 68 (70) (237) – customer redress programmes (operating expenses) 6 (17) (32) – impairment of goodwill and other intangible assets (9) — (587) – restructuring and other related costs (operating expenses) (1,040) (848) (988) – currency translation on significant items 41 36 Currency translation 371 249 Reported profit before tax 9,176 10,839 8,067 1 Includes losses from classifying businesses as held-for-sale as part of a broader restructuring of our European business. 2 Includes fair value movements on non-qualifying hedges and debt valuation adjustments on derivatives. 3 Comprises gains and losses relating to the business update in February 2020, including losses associated with RWA reduction commitments. |
Fair values of financial instru
Fair values of financial instruments carried at fair value | 6 Months Ended |
Jun. 30, 2022 | |
Fair Value Measurement [Abstract] | |
Fair values of financial instruments carried at fair value | 6 Fair values of financial instruments carried at fair value The accounting policies, control framework and hierarchy used to determine fair values at 30 June 2022 are consistent with those applied for the Annual Report and Accounts 2021 . Financial instruments carried at fair value and bases of valuation Valuation techniques Quoted Using With significant Total Recurring fair value measurements $m $m $m $m At 30 Jun 2022 Assets Trading assets 148,156 66,218 2,976 217,350 Financial assets designated and otherwise mandatorily measured at fair value through profit or loss 15,558 15,252 15,063 45,873 Derivatives 2,556 258,256 2,111 262,923 Financial investments 191,631 82,237 2,709 276,577 Liabilities Trading liabilities 60,623 19,595 351 80,569 Financial liabilities designated at fair value 1,135 116,406 8,465 126,006 Derivatives 2,758 246,391 2,320 251,469 At 31 Dec 2021 Assets Trading assets 180,423 65,757 2,662 248,842 Financial assets designated and otherwise mandatorily measured at fair value through profit or loss 17,937 17,629 14,238 49,804 Derivatives 2,783 191,621 2,478 196,882 Financial investments 247,745 97,838 3,389 348,972 Liabilities Trading liabilities 63,437 20,682 785 84,904 Financial liabilities designated at fair value 1,379 136,243 7,880 145,502 Derivatives 1,686 186,290 3,088 191,064 Transfers between Level 1 and Level 2 fair values Assets Liabilities Financial investments Trading assets Designated and otherwise mandatorily measured at fair value Derivatives Trading liabilities Designated at fair value Derivatives $m $m $m $m $m $m $m At 30 Jun 2022 Transfers from Level 1 to Level 2 2,407 1,937 538 — 55 — — Transfers from Level 2 to Level 1 4,066 3,488 99 — 203 — — At 31 Dec 2021 Transfers from Level 1 to Level 2 8,477 6,553 1,277 103 181 — 212 Transfers from Level 2 to Level 1 6,007 4,132 768 — 638 — — Fair value adjustments We adopt the use of fair value adjustments when we take into consideration additional factors not incorporated within the valuation model that would otherwise be considered by a market participant. We classify fair value adjustments as either ‘risk-related’ or ‘model-related’. The majority of these adjustments relate to GBM. Movements in the level of fair value adjustments do not necessarily result in the recognition of profits or losses within the income statement. For example, as models are enhanced, fair value adjustments may no longer be required. Similarly, fair value adjustments will decrease when the related positions are unwound, but this may not result in profit or loss. Global Banking and Markets fair value adjustments At 30 Jun 2022 At 31 Dec 2021 GBM Corporate Centre GBM Corporate Centre $m $m $m $m Type of adjustment Risk-related 800 28 868 42 – bid-offer 427 — 412 — – uncertainty 78 1 66 1 – credit valuation adjustment 300 21 228 35 – debt valuation adjustment (204) — (92) — – funding fair value adjustment 199 6 254 6 – other — — — — Model-related 61 — 57 — – model limitation 61 — 57 — – other — — — — Inception profit (Day 1 P&L reserves) 1 99 — 106 — Total 960 28 1,031 42 1 See Note 8 on the interim condensed financial statements on page 119. The reduction in fair value adjustments was predominantly driven by changes in the rates and credit environment. For further details of our risk-related and model-related adjustments, see pages 345 and 346 of the Annual Report and Accounts 2021. 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 647 90 14,704 — 15,441 91 — — 91 Asset-backed securities 468 114 29 — 611 — — — — Structured notes — — — — — — 8,465 — 8,465 Derivatives with monolines — — — — — — — — — Other derivatives — — — 2,111 2,111 — — 2,320 2,320 Other portfolios 1,594 2,772 330 — 4,696 260 — — 260 At 30 Jun 2022 2,709 2,976 15,063 2,111 22,859 351 8,465 2,320 11,136 Private equity including strategic investments 544 2 13,732 — 14,278 9 — — 9 Asset-backed securities 1,008 132 1 — 1,141 — — — — Structured notes — — — — — — 7,879 — 7,879 Other derivatives — — — 2,478 2,478 — — 3,088 3,088 Other portfolios 1,837 2,528 505 — 4,870 776 1 — 777 At 31 Dec 2021 3,389 2,662 14,238 2,478 22,767 785 7,880 3,088 11,753 The basis for determining the fair value of the financial instruments in the table above is explained on page 347 of the Annual Report and Accounts 2021. Reconciliation of fair value measurements in Level 3 of the fair value hierarchy Movement in Level 3 financial instruments Assets Liabilities Financial investments Trading assets Designated and otherwise mandatorily measured at fair value through profit or loss Derivatives Trading liabilities Designated at fair value Derivatives $m $m $m $m $m $m $m At 1 Jan 2022 3,389 2,662 14,238 2,478 785 7,880 3,088 Total gains/(losses) recognised in profit or loss (7) (22) 310 408 (45) (1,103) 165 – net income/(losses) from financial instruments held for trading or managed on a fair value basis — (22) — 408 (45) — 165 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 310 — — (1,103) — – gains less losses from financial investments held at fair value through other comprehensive income (7) — — — — — — Total gains/(losses) recognised in other comprehensive income (‘OCI’) (287) (165) (336) (191) (12) (398) (231) – financial investments: fair value losses (140) — — — — (18) — – exchange differences (147) (165) (336) (191) (12) (380) (231) Purchases 506 1,026 1,707 — 13 — — New issuances — — — — 4 2,511 — Sales (186) (698) (299) — (95) (22) — Settlements (273) (373) (561) (509) (636) (723) (580) Transfers out (501) (287) (36) (290) (7) (549) (437) Transfers in 68 833 40 215 344 869 315 At 30 Jun 2022 2,709 2,976 15,063 2,111 351 8,465 2,320 Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at 30 Jun 2022 — (37) 291 929 1 423 3,494 – net income/(losses) from financial instruments held for trading or managed on a fair value basis — (37) — 929 1 — 3,494 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 291 — — 423 — At 1 Jan 2021 3,654 2,499 11,477 2,670 162 5,306 4,188 Total gains/(losses) recognised in profit or loss 2 (155) 1,038 195 15 (456) 466 – net income/(losses) from financial instruments held for trading or managed on a fair value basis — (155) — 195 15 — 466 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 1,038 — — (456) — – gains less losses from financial investments held at fair value through other comprehensive income 2 — — — — — — Total losses recognised in other comprehensive income (‘OCI’) (391) 23 (114) 23 (3) 2 29 – financial investments: fair value losses (360) — — — — — — – exchange differences (31) 23 (114) 23 (3) 2 29 Purchases 390 1,094 1,631 — 482 — — New issuances — — — — 24 2,725 — Sales (214) (244) (499) — — — — Settlements (177) (494) (436) (359) (8) (896) (1,537) Transfers out (311) (512) (159) (126) (1) (339) (221) Transfers in 290 298 50 274 186 895 496 At 30 Jun 2021 3,243 2,509 12,988 2,677 857 7,237 3,421 Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at 30 Jun 2021 — (99) 885 175 2 106 (4) – net income/(losses) from financial instruments held for trading or managed on a fair value basis — (99) — 175 2 — (4) – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 885 — — 106 — Movement in Level 3 financial instruments (continued) Assets Liabilities Financial investments Trading assets Designated and otherwise mandatorily measured at fair value through Derivatives Trading liabilities Designated Derivatives $m $m $m $m $m $m $m At 1 Jul 2021 3,243 2,509 12,988 2,677 857 7,237 3,421 Total gains recognised in profit or loss (12) (223) 715 2,042 1 (380) 2,117 – net income from financial instruments held for trading or managed on a fair value basis — (223) — 2,042 1 — 2,117 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 715 — — (380) — – gains less losses from financial investments held at fair value through other comprehensive income (12) — — — — — — Total gains recognised in other comprehensive income (‘OCI’) (130) (41) (171) (50) (5) (63) (55) – financial investments: fair value gains (68) — — — — — — – exchange differences (62) (41) (171) (50) (5) (63) (55) Purchases 635 894 2,061 — 532 1 — New issuances — — — — 11 3,244 — Sales (366) (229) (717) — (4) (27) — Settlements (159) (253) (613) (1,988) (673) (2,026) (2,425) Transfers out (72) (515) (25) (292) (6) (365) (513) Transfers in 250 520 — 89 72 259 543 At 31 Dec 2021 3,389 2,662 14,238 2,478 785 7,880 3,088 Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at 31 Dec 2021 — (309) 1,509 1,298 — 166 (969) – net income/(losses) from financial instruments held for trading or managed on a fair value basis — (309) — 1,298 — — (969) – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 1,509 — — 166 — 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 The following table shows the sensitivity of Level 3 fair values to reasonably possible alternative assumptions: Sensitivity of fair values to reasonably possible alternative assumptions Reflected in profit or loss Reflected in OCI Favourable Unfavourable Favourable Unfavourable $m $m $m $m Derivatives, trading assets and trading liabilities 1 172 (179) — — Financial assets and liabilities designated and otherwise mandatorily measured at fair value through profit or loss 979 (977) — — Financial investments 12 (6) 142 (143) At 30 Jun 2022 1,163 (1,162) 142 (143) Derivatives, trading assets and trading liabilities 1 179 (197) — — Financial assets and liabilities designated and otherwise mandatorily measured at fair value through profit or loss 795 (793) — — Financial investments 24 (24) 105 (104) At 30 Jun 2021 998 (1,014) 105 (104) Derivatives, trading assets and trading liabilities 1 143 (146) — — Financial assets and liabilities designated and otherwise mandatorily measured at fair value through profit or loss 849 (868) — — Financial investments 20 (20) 113 (112) At 31 Dec 2021 1,012 (1,034) 113 (112) 1 ‘Derivatives, trading assets and trading liabilities’ is presented as one category to reflect the manner in which these financial 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 table above 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 30 June 2022. There has been no change to the key unobservable inputs to Level 3 financial instruments and inter-relationships therein, which are detailed on pages 349 and 350 of the Annual Report and Accounts 2021 . Quantitative information about significant unobservable inputs in Level 3 valuations Fair value Valuation techniques Key unobservable inputs 30 Jun 2022 31 Dec 2021 Assets Liabilities Full range of inputs Full range of inputs $m $m Lower Higher Lower Higher Private equity including strategic investments 15,441 91 See footnote 1 See footnote 1 Asset-backed securities (‘ABS’) 611 — – collateralised loan/debt obligation 25 — Market proxy Prepayment rate — — Market proxy Bid quotes — 98 — 100 – other ABSs 586 — Market proxy Bid quotes — 97 — 100 Loans held for securitisation — — Structured notes — 8,465 – equity-linked notes — 6,648 Model – Option model Equity volatility 6% 95% 6% 124% Model – Option model Equity correlation 30% 98% 22% 99% – Foreign exchange (‘FX’)-linked notes — 994 Model – Option model FX volatility 3% 40% 1% 99% – other — 823 Derivatives with monolines — — Model – Discounted cash flow Credit spread — — — — Other derivatives 2,111 2,320 – interest rate derivatives 448 588 securitisation swaps 260 367 Model – Discounted cash flow Prepayment rate 5% 10% 5% 10% long-dated swaptions 31 50 Model – Option model Interest rate volatility 10% 42% 15% 35% other 157 171 – FX derivatives 291 354 FX options 112 193 Model – Option model FX volatility 1% 40% 1% 99% other 179 161 – equity derivatives 1,232 1,154 long-dated single stock options 537 703 Model – Option model Equity volatility 6% 124% 4% 138% other 695 451 – credit derivatives 140 224 other 140 224 Other portfolios 4,696 260 – repurchase agreements 993 232 Model – Discounted cash flow Interest rate curve 1% 5% 1% 5% – other 2 3,703 28 At 30 Jun 2022 22,859 11,136 1 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 . 2 ’Other’ includes a range of smaller holdings. 7 Fair values of financial instruments not carried at fair value The bases for measuring the fair values of loans and advances to banks and customers, financial investments, deposits by banks, customer accounts, debt securities in issue, subordinated liabilities and non-trading repurchase and reverse repurchase agreements are explained on pages 350 and 351 of the Annual Report and Accounts 2021. Fair values of financial instruments not carried at fair value on the balance sheet At 30 Jun 2022 At 31 Dec 2021 Carrying Fair Carrying Fair $m $m $m $m Assets Loans and advances to banks 96,429 96,445 83,136 83,293 Loans and advances to customers 1,028,356 1,021,944 1,045,814 1,044,575 Reverse repurchase agreements – non-trading 244,451 244,381 241,648 241,652 Financial investments – at amortised cost 154,219 148,456 97,302 102,267 Liabilities Deposits by banks 105,275 105,197 101,152 101,149 Customer accounts 1,651,301 1,651,234 1,710,574 1,710,733 Repurchase agreements – non-trading 129,707 129,705 126,670 126,670 Debt securities in issue 87,944 85,581 78,557 79,243 Subordinated liabilities 20,711 21,683 20,487 26,206 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. |
Fair values of financial inst_2
Fair values of financial instruments not carried at fair value | 6 Months Ended |
Jun. 30, 2022 | |
Fair Value Measurement [Abstract] | |
Fair values of financial instruments not carried at fair value | 6 Fair values of financial instruments carried at fair value The accounting policies, control framework and hierarchy used to determine fair values at 30 June 2022 are consistent with those applied for the Annual Report and Accounts 2021 . Financial instruments carried at fair value and bases of valuation Valuation techniques Quoted Using With significant Total Recurring fair value measurements $m $m $m $m At 30 Jun 2022 Assets Trading assets 148,156 66,218 2,976 217,350 Financial assets designated and otherwise mandatorily measured at fair value through profit or loss 15,558 15,252 15,063 45,873 Derivatives 2,556 258,256 2,111 262,923 Financial investments 191,631 82,237 2,709 276,577 Liabilities Trading liabilities 60,623 19,595 351 80,569 Financial liabilities designated at fair value 1,135 116,406 8,465 126,006 Derivatives 2,758 246,391 2,320 251,469 At 31 Dec 2021 Assets Trading assets 180,423 65,757 2,662 248,842 Financial assets designated and otherwise mandatorily measured at fair value through profit or loss 17,937 17,629 14,238 49,804 Derivatives 2,783 191,621 2,478 196,882 Financial investments 247,745 97,838 3,389 348,972 Liabilities Trading liabilities 63,437 20,682 785 84,904 Financial liabilities designated at fair value 1,379 136,243 7,880 145,502 Derivatives 1,686 186,290 3,088 191,064 Transfers between Level 1 and Level 2 fair values Assets Liabilities Financial investments Trading assets Designated and otherwise mandatorily measured at fair value Derivatives Trading liabilities Designated at fair value Derivatives $m $m $m $m $m $m $m At 30 Jun 2022 Transfers from Level 1 to Level 2 2,407 1,937 538 — 55 — — Transfers from Level 2 to Level 1 4,066 3,488 99 — 203 — — At 31 Dec 2021 Transfers from Level 1 to Level 2 8,477 6,553 1,277 103 181 — 212 Transfers from Level 2 to Level 1 6,007 4,132 768 — 638 — — Fair value adjustments We adopt the use of fair value adjustments when we take into consideration additional factors not incorporated within the valuation model that would otherwise be considered by a market participant. We classify fair value adjustments as either ‘risk-related’ or ‘model-related’. The majority of these adjustments relate to GBM. Movements in the level of fair value adjustments do not necessarily result in the recognition of profits or losses within the income statement. For example, as models are enhanced, fair value adjustments may no longer be required. Similarly, fair value adjustments will decrease when the related positions are unwound, but this may not result in profit or loss. Global Banking and Markets fair value adjustments At 30 Jun 2022 At 31 Dec 2021 GBM Corporate Centre GBM Corporate Centre $m $m $m $m Type of adjustment Risk-related 800 28 868 42 – bid-offer 427 — 412 — – uncertainty 78 1 66 1 – credit valuation adjustment 300 21 228 35 – debt valuation adjustment (204) — (92) — – funding fair value adjustment 199 6 254 6 – other — — — — Model-related 61 — 57 — – model limitation 61 — 57 — – other — — — — Inception profit (Day 1 P&L reserves) 1 99 — 106 — Total 960 28 1,031 42 1 See Note 8 on the interim condensed financial statements on page 119. The reduction in fair value adjustments was predominantly driven by changes in the rates and credit environment. For further details of our risk-related and model-related adjustments, see pages 345 and 346 of the Annual Report and Accounts 2021. 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 647 90 14,704 — 15,441 91 — — 91 Asset-backed securities 468 114 29 — 611 — — — — Structured notes — — — — — — 8,465 — 8,465 Derivatives with monolines — — — — — — — — — Other derivatives — — — 2,111 2,111 — — 2,320 2,320 Other portfolios 1,594 2,772 330 — 4,696 260 — — 260 At 30 Jun 2022 2,709 2,976 15,063 2,111 22,859 351 8,465 2,320 11,136 Private equity including strategic investments 544 2 13,732 — 14,278 9 — — 9 Asset-backed securities 1,008 132 1 — 1,141 — — — — Structured notes — — — — — — 7,879 — 7,879 Other derivatives — — — 2,478 2,478 — — 3,088 3,088 Other portfolios 1,837 2,528 505 — 4,870 776 1 — 777 At 31 Dec 2021 3,389 2,662 14,238 2,478 22,767 785 7,880 3,088 11,753 The basis for determining the fair value of the financial instruments in the table above is explained on page 347 of the Annual Report and Accounts 2021. Reconciliation of fair value measurements in Level 3 of the fair value hierarchy Movement in Level 3 financial instruments Assets Liabilities Financial investments Trading assets Designated and otherwise mandatorily measured at fair value through profit or loss Derivatives Trading liabilities Designated at fair value Derivatives $m $m $m $m $m $m $m At 1 Jan 2022 3,389 2,662 14,238 2,478 785 7,880 3,088 Total gains/(losses) recognised in profit or loss (7) (22) 310 408 (45) (1,103) 165 – net income/(losses) from financial instruments held for trading or managed on a fair value basis — (22) — 408 (45) — 165 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 310 — — (1,103) — – gains less losses from financial investments held at fair value through other comprehensive income (7) — — — — — — Total gains/(losses) recognised in other comprehensive income (‘OCI’) (287) (165) (336) (191) (12) (398) (231) – financial investments: fair value losses (140) — — — — (18) — – exchange differences (147) (165) (336) (191) (12) (380) (231) Purchases 506 1,026 1,707 — 13 — — New issuances — — — — 4 2,511 — Sales (186) (698) (299) — (95) (22) — Settlements (273) (373) (561) (509) (636) (723) (580) Transfers out (501) (287) (36) (290) (7) (549) (437) Transfers in 68 833 40 215 344 869 315 At 30 Jun 2022 2,709 2,976 15,063 2,111 351 8,465 2,320 Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at 30 Jun 2022 — (37) 291 929 1 423 3,494 – net income/(losses) from financial instruments held for trading or managed on a fair value basis — (37) — 929 1 — 3,494 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 291 — — 423 — At 1 Jan 2021 3,654 2,499 11,477 2,670 162 5,306 4,188 Total gains/(losses) recognised in profit or loss 2 (155) 1,038 195 15 (456) 466 – net income/(losses) from financial instruments held for trading or managed on a fair value basis — (155) — 195 15 — 466 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 1,038 — — (456) — – gains less losses from financial investments held at fair value through other comprehensive income 2 — — — — — — Total losses recognised in other comprehensive income (‘OCI’) (391) 23 (114) 23 (3) 2 29 – financial investments: fair value losses (360) — — — — — — – exchange differences (31) 23 (114) 23 (3) 2 29 Purchases 390 1,094 1,631 — 482 — — New issuances — — — — 24 2,725 — Sales (214) (244) (499) — — — — Settlements (177) (494) (436) (359) (8) (896) (1,537) Transfers out (311) (512) (159) (126) (1) (339) (221) Transfers in 290 298 50 274 186 895 496 At 30 Jun 2021 3,243 2,509 12,988 2,677 857 7,237 3,421 Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at 30 Jun 2021 — (99) 885 175 2 106 (4) – net income/(losses) from financial instruments held for trading or managed on a fair value basis — (99) — 175 2 — (4) – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 885 — — 106 — Movement in Level 3 financial instruments (continued) Assets Liabilities Financial investments Trading assets Designated and otherwise mandatorily measured at fair value through Derivatives Trading liabilities Designated Derivatives $m $m $m $m $m $m $m At 1 Jul 2021 3,243 2,509 12,988 2,677 857 7,237 3,421 Total gains recognised in profit or loss (12) (223) 715 2,042 1 (380) 2,117 – net income from financial instruments held for trading or managed on a fair value basis — (223) — 2,042 1 — 2,117 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 715 — — (380) — – gains less losses from financial investments held at fair value through other comprehensive income (12) — — — — — — Total gains recognised in other comprehensive income (‘OCI’) (130) (41) (171) (50) (5) (63) (55) – financial investments: fair value gains (68) — — — — — — – exchange differences (62) (41) (171) (50) (5) (63) (55) Purchases 635 894 2,061 — 532 1 — New issuances — — — — 11 3,244 — Sales (366) (229) (717) — (4) (27) — Settlements (159) (253) (613) (1,988) (673) (2,026) (2,425) Transfers out (72) (515) (25) (292) (6) (365) (513) Transfers in 250 520 — 89 72 259 543 At 31 Dec 2021 3,389 2,662 14,238 2,478 785 7,880 3,088 Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at 31 Dec 2021 — (309) 1,509 1,298 — 166 (969) – net income/(losses) from financial instruments held for trading or managed on a fair value basis — (309) — 1,298 — — (969) – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 1,509 — — 166 — 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 The following table shows the sensitivity of Level 3 fair values to reasonably possible alternative assumptions: Sensitivity of fair values to reasonably possible alternative assumptions Reflected in profit or loss Reflected in OCI Favourable Unfavourable Favourable Unfavourable $m $m $m $m Derivatives, trading assets and trading liabilities 1 172 (179) — — Financial assets and liabilities designated and otherwise mandatorily measured at fair value through profit or loss 979 (977) — — Financial investments 12 (6) 142 (143) At 30 Jun 2022 1,163 (1,162) 142 (143) Derivatives, trading assets and trading liabilities 1 179 (197) — — Financial assets and liabilities designated and otherwise mandatorily measured at fair value through profit or loss 795 (793) — — Financial investments 24 (24) 105 (104) At 30 Jun 2021 998 (1,014) 105 (104) Derivatives, trading assets and trading liabilities 1 143 (146) — — Financial assets and liabilities designated and otherwise mandatorily measured at fair value through profit or loss 849 (868) — — Financial investments 20 (20) 113 (112) At 31 Dec 2021 1,012 (1,034) 113 (112) 1 ‘Derivatives, trading assets and trading liabilities’ is presented as one category to reflect the manner in which these financial 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 table above 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 30 June 2022. There has been no change to the key unobservable inputs to Level 3 financial instruments and inter-relationships therein, which are detailed on pages 349 and 350 of the Annual Report and Accounts 2021 . Quantitative information about significant unobservable inputs in Level 3 valuations Fair value Valuation techniques Key unobservable inputs 30 Jun 2022 31 Dec 2021 Assets Liabilities Full range of inputs Full range of inputs $m $m Lower Higher Lower Higher Private equity including strategic investments 15,441 91 See footnote 1 See footnote 1 Asset-backed securities (‘ABS’) 611 — – collateralised loan/debt obligation 25 — Market proxy Prepayment rate — — Market proxy Bid quotes — 98 — 100 – other ABSs 586 — Market proxy Bid quotes — 97 — 100 Loans held for securitisation — — Structured notes — 8,465 – equity-linked notes — 6,648 Model – Option model Equity volatility 6% 95% 6% 124% Model – Option model Equity correlation 30% 98% 22% 99% – Foreign exchange (‘FX’)-linked notes — 994 Model – Option model FX volatility 3% 40% 1% 99% – other — 823 Derivatives with monolines — — Model – Discounted cash flow Credit spread — — — — Other derivatives 2,111 2,320 – interest rate derivatives 448 588 securitisation swaps 260 367 Model – Discounted cash flow Prepayment rate 5% 10% 5% 10% long-dated swaptions 31 50 Model – Option model Interest rate volatility 10% 42% 15% 35% other 157 171 – FX derivatives 291 354 FX options 112 193 Model – Option model FX volatility 1% 40% 1% 99% other 179 161 – equity derivatives 1,232 1,154 long-dated single stock options 537 703 Model – Option model Equity volatility 6% 124% 4% 138% other 695 451 – credit derivatives 140 224 other 140 224 Other portfolios 4,696 260 – repurchase agreements 993 232 Model – Discounted cash flow Interest rate curve 1% 5% 1% 5% – other 2 3,703 28 At 30 Jun 2022 22,859 11,136 1 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 . 2 ’Other’ includes a range of smaller holdings. 7 Fair values of financial instruments not carried at fair value The bases for measuring the fair values of loans and advances to banks and customers, financial investments, deposits by banks, customer accounts, debt securities in issue, subordinated liabilities and non-trading repurchase and reverse repurchase agreements are explained on pages 350 and 351 of the Annual Report and Accounts 2021. Fair values of financial instruments not carried at fair value on the balance sheet At 30 Jun 2022 At 31 Dec 2021 Carrying Fair Carrying Fair $m $m $m $m Assets Loans and advances to banks 96,429 96,445 83,136 83,293 Loans and advances to customers 1,028,356 1,021,944 1,045,814 1,044,575 Reverse repurchase agreements – non-trading 244,451 244,381 241,648 241,652 Financial investments – at amortised cost 154,219 148,456 97,302 102,267 Liabilities Deposits by banks 105,275 105,197 101,152 101,149 Customer accounts 1,651,301 1,651,234 1,710,574 1,710,733 Repurchase agreements – non-trading 129,707 129,705 126,670 126,670 Debt securities in issue 87,944 85,581 78,557 79,243 Subordinated liabilities 20,711 21,683 20,487 26,206 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. |
Derivatives
Derivatives | 6 Months Ended |
Jun. 30, 2022 | |
Financial Instruments [Abstract] | |
Derivatives | 8 Derivatives Notional contract amounts and fair values of derivatives by product contract type held by HSBC Notional contract amount Fair value amount Assets and liabilities Assets Liabilities Trading Hedging Trading Hedging Total Trading Hedging Total $m $m $m $m $m $m $m $m Foreign exchange 8,856,919 38,611 127,897 2,187 130,084 122,431 247 122,678 Interest rate 15,558,726 237,907 220,316 3,620 223,936 220,007 1,181 221,188 Equities 573,332 — 11,919 — 11,919 10,843 — 10,843 Credit 199,195 — 3,255 — 3,255 3,321 — 3,321 Commodity and other 102,053 — 1,815 — 1,815 1,525 — 1,525 Gross total fair values 25,290,225 276,518 365,202 5,807 371,009 358,127 1,428 359,555 Offset (108,086) (108,086) At 30 Jun 2022 25,290,225 276,518 365,202 5,807 262,923 358,127 1,428 251,469 Foreign exchange 7,723,034 43,839 79,801 1,062 80,863 77,670 207 77,877 Interest rate 14,470,539 162,921 151,631 1,749 153,380 146,808 966 147,774 Equities 659,142 — 12,637 — 12,637 14,379 — 14,379 Credit 190,724 — 2,175 — 2,175 3,151 — 3,151 Commodity and other 74,159 — 1,205 — 1,205 1,261 — 1,261 Gross total fair values 23,117,598 206,760 247,449 2,811 250,260 243,269 1,173 244,442 Offset (53,378) (53,378) At 31 Dec 2021 23,117,598 206,760 247,449 2,811 196,882 243,269 1,173 191,064 The notional contract amounts of derivatives held for trading purposes and derivatives designated in qualifying hedge accounting relationships indicate the nominal value of transactions outstanding at the balance sheet date, not amounts at risk. Derivative assets and liabilities increased during 1H22, reflecting changes in yield curves and the market environment. Derivatives valued using models with unobservable inputs The following table shows the difference between the fair value at initial recognition, which is 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. Unamortised balance of derivatives valued using models with significant unobservable inputs Half-year to 30 Jun 30 Jun 31 Dec 2022 2021 2021 $m $m $m Unamortised balance at beginning of period 106 104 120 Deferral on new transactions 100 187 124 Recognised in the income statement during the period (99) (172) (136) – amortisation (61) (89) (88) – subsequent to unobservable inputs becoming observable — (3) (1) – maturity, termination or offsetting derivative (38) (80) (47) Exchange differences (8) 1 (2) Unamortised balance at end of period 1 99 120 106 1 This amount is yet to be recognised in the consolidated income statement. Hedge accounting derivatives The notional contract amounts of derivatives held for hedge accounting purposes indicate the nominal value of transactions outstanding at the balance sheet date, not amounts at risk. Notional contract amounts of derivatives held for hedging purposes by product type At 30 Jun 2022 At 31 Dec 2021 Cash flow Fair value Cash flow Fair value $m $m $m $m Foreign exchange 12,150 4 17,930 4 Interest rate 100,673 137,234 72,365 90,556 Total 112,823 137,238 90,295 90,560 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 30 June 2022, the notional contract values of outstanding financial instruments designated as hedges of net investments in foreign operations were $26,457m (31 December 2021: $25,905m). Interest rate benchmark reform: Amendments to IFRS 9 and IAS 39 ‘Financial Instruments’ HSBC has applied both the first set of amendments (‘Phase 1’) and the second set of amendments (‘Phase 2’) to IFRS 9 and IAS 39 applicable to hedge accounting. The items in hedge accounting relationships that are affected by Phase 1 and Phase 2 amendments are 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 value of the derivatives impacted by the Ibor reform, including those designated in hedge accounting relationships, is disclosed on page 62 in the section ‘Financial instruments impacted by Ibor reform’. For further details on Ibor transition, see ’Areas of special interest’ on page 61. The most significant Ibor benchmark in which the Group continues to have hedging instruments is US dollar Libor. During 2022 those instruments continued to be transitioned. It is expected that the transition out of US dollar Libor hedging derivatives will be largely completed by the end of 2022. This transition does not necessitate any new approaches compared with the mechanisms used so far for transition and it will not be necessary to change the transition risk management strategy. There is no significant judgement required for US dollar Libor to determine whether and when the transition uncertainty has been resolved. For some of the Ibors included under the ‘Other’ header in the table below, judgement has been needed to establish whether a transition is required. This is because there are Ibor benchmarks subject to computation improvements and insertion of fallback provisions where their administrators have yet to provide full clarity on whether or when these Ibor benchmarks will be demised. The notional amounts of interest rate derivatives designated in hedge accounting relationships do not represent the extent of the risk exposure managed by the Group but they are expected to be directly affected by market-wide Ibor reform and in scope of Phase 1 amendments and are shown in the table below. 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 3 € 1 £ $ Other 2 Total $m $m $m $m $m $m $m Fair value hedges 9,094 — 7,903 10,461 27,458 109,776 137,234 Cash flow hedges 6,342 — 100 21,058 27,500 73,173 100,673 At 30 Jun 2022 15,436 — 8,003 31,519 54,958 182,949 237,907 Fair value hedges 6,178 — 18,525 6,615 31,318 59,238 90,556 Cash flow hedges 7,954 — 100 8,632 16,686 55,679 72,365 At 31 Dec 2021 14,132 — 18,625 15,247 48,004 114,917 162,921 1 The notional contract amounts of euro interest rate derivatives impacted by Ibor reform mainly comprise hedges with a Euribor benchmark, which are ‘Fair value hedges’ of $9,094m (31 December 2021: $6,178m) and ‘Cash flow hedges’ of $6,342m (31 December 2021: $7,954m). 2 Other benchmarks impacted by Ibor reform comprise mainly of Canadian dollar offered rate (‘CDOR’), Hong Kong interbank offered rate (‘HIBOR’) and Mexican interbank equilibrium interest rate (‘TIIE’) related derivatives. 3 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. |
Financial investments
Financial investments | 6 Months Ended |
Jun. 30, 2022 | |
Financial Instruments [Abstract] | |
Financial investments | 9 Financial investments Carrying amounts of financial investments 30 Jun 31 Dec 2022 2021 $m $m Financial investments measured at fair value through other comprehensive income 276,577 348,972 – treasury and other eligible bills 59,602 100,158 – debt securities 215,163 246,998 – equity securities 1,812 1,770 – other instruments — 46 Debt instruments measured at amortised cost 154,219 97,302 – treasury and other eligible bills 55,392 21,634 – debt securities 98,827 75,668 At the end of the period 430,796 446,274 |
Interests in associates and joi
Interests in associates and joint ventures | 6 Months Ended |
Jun. 30, 2022 | |
Interests In Other Entities [Abstract] | |
Interests in associates and joint ventures | 10 Interests in associates and joint ventures At 30 June 2022, the carrying amount of HSBC’s interests in associates and joint ventures was $29,446m (31 December 2021: $29,609m). Principal associates of HSBC At 30 Jun 2022 At 31 Dec 2021 Carrying amount Fair value 1 Carrying amount Fair value 1 $m $m $m $m Bank of Communications Co., Limited 23,559 9,764 23,616 8,537 The Saudi British Bank 4,472 6,910 4,426 5,599 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). 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 with consideration of all relevant factors, including representation on BoCom’s Board of Directors and participation in a resource and experience sharing agreement (‘RES’). Under the RES, 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 30 June 2022, the fair value of the Group’s investment in BoCom had been below the carrying amount for approximately 10 years. As a result, the Group performed an impairment test on the carrying amount, which confirmed that there was no impairment at 30 June 2022 as the recoverable amount as determined by a value-in-use (‘VIU’) calculation was higher than the carrying value. At 30 Jun 2022 At 31 Dec 2021 VIU Carrying value Fair value VIU Carrying value Fair value $bn $bn $bn $bn $bn $bn BoCom 24.3 23.6 9.8 24.8 23.6 8.5 The headroom, which is defined as the extent to which the VIU exceeds the carrying value, decreased by $0.5bn compared with 31 December 2021. The decrease in headroom was principally due to revisions to management’s best estimates of BoCom’s future earnings in the short to medium term, partly offset by the impact on the VIU from BoCom’s actual performance, which was better than earlier estimates. 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 forecast of future asset growth or profitability. An increase in the discount rate 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. Reflecting management’s intent to continue to retain its investment, earnings beyond the short to medium term are then extrapolated into 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 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 capital requirements. An increase in the CMC as a result of a change to these principal inputs would reduce VIU. Additionally, management considers other 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% (31 December 2021: 3%) for periods after 2025, which does not exceed forecast GDP growth in mainland China and is similar to forecasts by external analysts. • Long-term asset growth rate: 3% (31 December 2021: 3%) for periods after 2025, which is the rate that assets are expected to grow to achieve long-term profit growth of 3%. • Discount rate: 10.03% (31 December 2021: 10.03%), which is based on a capital asset pricing model (‘CAPM’), using market data. The discount rate used is within the range of 8.2% to 10.2% (31 December 2021: 8.7% to 10.1%) indicated by the CAPM. While the CAPM range sits at the lower end of the range adopted by selected external analysts of 9.9% to 13.5% (31 December 2021: 9.9% to 13.5%), we continue to regard the CAPM range as the most appropriate basis for determining this assumption. • Expected credit losses (‘ECL’) as a percentage of customer advances: ranges from 0.99% to 1.15% (31 December 2021: 0.98% to 1.12%) in the short to medium term, reflecting reported credit experience through the ongoing Covid-19 pandemic in mainland China followed by an expected reversion to recent historical levels. For periods after 2025, the ratio is 0.97% (31 December 2021: 0.97%), which is higher than BoCom’s average ECL as a percentage of customer advances in recent years prior to the Covid-19 pandemic. • Risk-weighted assets as a percentage of total assets: ranges from 61.0% to 63.2% (31 December 2021: 61.0% to 62.4%) in the short to medium term, reflecting reductions that may arise from a subsequent lowering of ECL and a continuation of the trend of strong retail loan growth. For periods after 2025, the ratio is 61.0% (31 December 2021: 61.0%). These rates are similar to BoCom’s actual results in recent years and forecasts disclosed by external analysts. • Operating income growth rate: ranges from 4.6% to 7.3% (31 December 2021: 5.1% to 6.2%) in the short to medium term, and is lower than BoCom’s actual results in recent years and the forecasts disclosed by external analysts, reflecting BoCom’s most recent actual results, global trade tensions and industry developments in mainland China. • Cost-income ratio: ranges from 35.5% to 35.8% (31 December 2021: 35.5% to 36.1%) in the short to medium term. These ratios are similar to BoCom’s actual results in recent years and forecasts disclosed by external analysts. • Effective tax rate: ranges from 7.6% to 15.0% (31 December 2021: 6.8% to 15.0%) in the short to medium term, reflecting BoCom’s actual results and an expected increase towards the long-term assumption through the forecast period. For periods after 2025, the rate is 15.0% (31 December 2021: 15.0%), which is higher than the recent historical average, and aligned to the minimum tax rate as proposed by the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting. • Capital requirements: capital adequacy ratio of 12.5% (31 December 2021: 12.5%) and tier 1 capital adequacy ratio of 9.5% (31 December 2021: 9.5%), based on BoCom’s capital risk appetite and capital requirements respectively. 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 17 basis points • Long-term asset growth rate Increase by 15 basis points • Discount rate Increase by 23 basis points • Expected credit losses as a percentage of customer advances Increase by 2 basis points • Risk-weighted assets as a percentage of total assets Increase by 122 basis points • Operating income growth rate Decrease by 31 basis points • Cost-income ratio Increase by 70 basis points • Long-term effective tax rate Increase by 203 basis points • Capital requirements – capital adequacy ratio Increase by 25 basis points • Capital requirements – tier 1 capital adequacy ratio Increase by 169 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 based on external analysts’ forecasts, statutory requirements and other relevant external data sources, which can change period to period. Sensitivity of VIU to reasonably possible changes in key assumptions Favourable change Unfavourable change Increase in VIU VIU Decrease in VIU VIU bps $bn $bn bps $bn $bn At 30 Jun 2022 Long-term asset/profit growth rate 1 (75) / 82 3.3 / 4.0 27.6 / 28.3 82 / (75) (4.5) / (2.9) 19.8 / 21.4 Discount rate (183) 8.0 32.3 207 (5.2) 19.1 Expected credit losses as a percentage of customer advances 2022 to 2025: 103 2026 onwards: 91 1.6 25.9 2022 to 2025: 123 2026 onwards: 105 (2.8) 21.5 Risk-weighted assets as a percentage of total assets (110) 0.1 24.4 247 (2.1) 22.2 Operating income growth rate 51 1.2 25.5 (69) (1.7) 22.6 Cost-income ratio (113) 1.1 25.4 188 (2.0) 22.3 Long-term effective tax rate (426) 1.5 25.8 1,000 (3.6) 20.7 Capital requirements – capital adequacy ratio — — 24.3 274 (8.8) 15.5 Capital requirements – tier 1 capital adequacy ratio — — 24.3 304 (5.2) 19.1 At 31 Dec 2021 Long-term asset/profit growth rate 1 (69) / 87 2.9 / 4.2 27.7 / 29.0 87 / (69) (4.7) / (2.7) 20.1 / 22.1 Discount rate (133) 5.4 30.2 207 (5.3) 19.5 Expected credit losses as a percentage of customer advances 2021 to 2025: 103 2026 onwards: 91 1.5 26.3 2021 to 2025: 121 2026 onwards: 105 (2.7) 22.1 Risk-weighted assets as a percentage of total assets (111) 0.2 25.0 280 (2.1) 22.7 Operating income growth rate 37 1.0 25.8 (58) (1.8) 23.0 Cost-income ratio (152) 1.7 26.5 174 (1.7) 23.1 Long-term effective tax rate (104) 0.3 25.1 1,000 (3.6) 21.2 Capital requirements – capital adequacy ratio — — 24.8 325 (10.0) 14.8 Capital requirements – tier 1 capital adequacy ratio — — 24.8 364 (6.5) 18.3 1 The reasonably possible ranges of the long-term profit growth rate and long-term asset growth rate assumptions reflect the close relationship between these assumptions, which would result in offsetting changes to each assumption. Considering the interrelationship of the changes set out in the table above, management estimates that the reasonably possible range of VIU is $18.5bn to $29.0bn (31 December 2021: $19.0bn to $29.3bn). The range is based on impacts set out in the table above arising from the favourable/unfavourable change in the earnings in the short to medium term, the long-term expected credit losses as a percentage of customer advances and a 50bps increase/decrease in the discount rate. All other long-term assumptions, and the basis of the CMC have been kept unchanged when determining the reasonably possible range of the VIU. The Saudi British Bank The Group’s investment in The Saudi British Bank (‘SABB’) is classified as an associate. HSBC is the largest shareholder in SABB with a shareholding of 31%. Significant influence in SABB is established via representation on the Board of Directors. Investments in associates are recognised using the equity method of accounting in accordance with IAS 28, as described previously for BoCom. Impairment testing There were no indicators of impairment at 30 June 2022. The fair value of the Group’s investment in SABB of $6.9bn was above the carrying amount of $4.5bn. |
Provisions
Provisions | 6 Months Ended |
Jun. 30, 2022 | |
Other Provisions, Contingent Liabilities And Contingent Assets [Abstract] | |
Provisions | 11 Provisions Restructuring Legal proceedings Customer Other Total $m $m $m $m $m Provisions (excluding contractual commitments) At 31 Dec 2021 383 619 386 558 1,946 Additions 105 110 34 104 353 Amounts utilised (147) (275) (49) (132) (603) Unused amounts reversed (41) (74) (38) (66) (219) Exchange and other movements 12 (10) (34) (55) (87) At 30 Jun 2022 312 370 299 409 1,390 Contractual commitments 1 At 31 Dec 2021 620 Net change in expected credit loss provision and other movements (110) At 30 Jun 2022 510 Total provisions At 31 Dec 2021 2,566 At 30 Jun 2022 1,900 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 13. 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’ refers 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. At 30 June 2022, $123m (31 December 2021: $173m) of the customer remediation provision related to the estimated liability for redress in respect of the possible mis-selling of payment protection insurance (‘PPI’) policies in previous years. Payments totalling $18m were made during the first six months of 2022, and the provision was decreased by $16m coupled with favourable foreign exchange movements of $16m. At 30 June 2022, a provision of $83m (31 December 2021: $87m) was held relating to the liability for redress payable to customers following a review of collections and recoveries practices in the UK. During the first six months of 2022, redress payments and incurred operating costs totalled $14m and the provision was increased by $19m and saw favourable foreign exchange movements of $9m. For further details of the impact of IFRS 9 on undrawn loan commitments and financial guarantees, presented in ‘Contractual commitments’, see Note 12. Further analysis of the movement in the expected credit loss provision is disclosed within the ‘Reconciliation of changes in gross carrying/nominal amount and allowances for loans and advances to banks and customers including loan commitments and financial guarantees‘ table on page 75. |
Contingent liabilities, contrac
Contingent liabilities, contractual commitments and guarantees | 6 Months Ended |
Jun. 30, 2022 | |
Other Provisions, Contingent Liabilities And Contingent Assets [Abstract] | |
Contingent liabilities, contractual commitments and guarantees | 12 Contingent liabilities, contractual commitments and guarantees At 30 Jun 31 Dec 2022 2021 $m $m Guarantees and contingent liabilities: – financial guarantees 17,586 27,795 – performance and other guarantees 84,103 85,534 – other contingent liabilities 816 858 At the end of the period 102,505 114,187 Commitments: 1 – documentary credits and short-term trade-related transactions 9,972 8,827 – forward asset purchases and forward deposits placed 76,144 47,184 – standby facilities, credit lines and other commitments to lend 740,313 759,463 At the end of the period 826,429 815,474 1 Includes $633,091m of commitments at 30 June 2022 (31 December 2021: $627,637m), 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 is 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 11. 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 and regulatory and other matters against Group companies are excluded from this note but are disclosed in Note 13. |
Legal proceedings and regulator
Legal proceedings and regulatory matters | 12 Months Ended |
Dec. 31, 2021 | |
Other Provisions, Contingent Liabilities And Contingent Assets [Abstract] | |
Legal proceedings and regulatory matters | 13 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 of the Annual Report and Accounts 2021. While the outcomes of legal proceedings and regulatory matters are inherently uncertain, management believes that, based on the information available to it, appropriate provisions have been made in respect of these matters as at 30 June 2022 (see Note 11). 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 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 Bernard L. Madoff Investment Securities LLC (‘Madoff Securities’). Based on information provided by Madoff Securities as at 30 November 2008, the purported aggregate value of these funds was $8.4bn, 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 $4bn. Various HSBC companies have been named as defendants in lawsuits arising out of Madoff Securities’ fraud. US litigation: The Madoff Securities 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. Following an initial dismissal of certain claims, which was later reversed on appeal, the cases were remanded to the US Bankruptcy Court, where they are now pending. 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 dismissed certain claims by the Fairfield liquidators and granted a motion by the liquidators to file amended complaints. In May 2019, the liquidators appealed certain issues from the US Bankruptcy Court to the US District Court for the Southern District of New York (the ’New York District Court’), and these appeals remain pending. In January 2020, the Fairfield liquidators filed amended complaints on the claims remaining in the US Bankruptcy Court. In December 2020, the US Bankruptcy Court dismissed the majority of those claims. In March 2021, the liquidators and defendants appealed the US Bankruptcy Court’s decision to the New York District Court, and these appeals are currently pending. In May 2022, the liquidators voluntarily dismissed their claims against HSBC Bank USA N.A. (‘HSBC Bank USA’) in the US Bankruptcy Court. Meanwhile, proceedings before the US Bankruptcy Court with respect to the remaining claims and other HSBC companies that were not dismissed are ongoing. UK litigation: The Madoff Securities 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 2022 for UK-based defendants and November 2022 for all other defendants. 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 appeal. In August 2019, Primeo filed a notice of appeal to the UK Privy Council. Two hearings before the UK Privy Council took place during 2021. Judgment was given against HSBC in respect of the first hearing and judgment is pending in respect of the second hearing. 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 and money damages claims. 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 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. These matters are currently pending before the Luxembourg District Court. 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 plc asserting identical claims before the Luxembourg District Court. In December 2018, Senator brought additional claims against HSSL and HSBC Bank plc 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. There are many factors that may affect the range of possible outcomes, and any 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 around $600m, excluding costs and interest. Due to uncertainties and limitations of this estimate, any possible damages that might ultimately arise could differ significantly from this amount. Anti-money laundering and sanctions-related matters In December 2012, HSBC Holdings entered into a number of agreements, including an undertaking with the UK Financial Services Authority (replaced with a Direction issued by the UK Financial Conduct Authority (‘FCA’) in 2013 and again in 2020) as well as 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. For several years thereafter, HSBC retained a Skilled Person under section 166 of the Financial Services and Markets Act and an Independent Consultant under the FRB cease-and-desist order to produce periodic assessments of the Group’s AML and sanctions compliance programme. The Skilled Person completed its engagement in the second quarter of 2021, and the FCA determined that no further Skilled Person work is required. Separately, the Independent Consultant has completed its latest review pursuant to the FRB cease-and-desist order, which remains in place. The roles of each of the FCA Skilled Person and the FRB Independent Consultant are discussed on page 209 of the Annual Report and Accounts 2021 . 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. 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. Currently, nine actions remain pending in federal courts in New York or the District of Columbia. The courts have granted HSBC’s motions to dismiss in five of these cases; appeals remain pending in two cases, and the remaining three dismissals are also subject to appeal. The four remaining actions are at an early stage. 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. 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 (‘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. 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 both appealed the General Court’s decision to the European Court of Justice (the ‘Court of Justice’). In June 2021, the EC adopted a new fining decision for an amount that was 5% less than the previously annulled fine, and subsequently withdrew its appeal to the Court of Justice. HSBC has appealed the EC’s June 2021 fining decision to the General Court, and its appeal to the Court of Justice on liability also remains pending. 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. HSBC has reached class settlements with five groups of plaintiffs, and the court has approved these settlements. HSBC has also resolved several of the individual actions, although a number of other US dollar Libor-related actions remain pending against HSBC in the New York District Court. Singapore interbank offered rate (‘Sibor’) and Singapore swap offer rate (‘SOR’): In 2016, HSBC and other panel banks were named as defendants in a putative class action filed in the New York District Court on behalf of persons who transacted in products related to the Sibor and SOR benchmark rates. The complaint alleges, among other things, misconduct related to these benchmark rates in violation of US antitrust, commodities and racketeering laws, and state law. In October 2021, The Hongkong and Shanghai Banking Corporation Limited reached a settlement in principle with the plaintiffs to resolve this action, the agreement for which was executed in May 2022. The settlement received preliminary court approval in June 2022, and the final approval hearing is scheduled for November 2022. 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 In December 2021, the EC issued a settlement decision finding that a number of banks, including HSBC, had engaged in anti-competitive practices in an online chatroom between 2011 and 2012 in the foreign exchange spot market. The EC imposed a €174.3m fine on HSBC in connection with this matter, which has been paid. 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 June 2020, the Competition Commission of South Africa, having initially referred a complaint for proceedings before the South African Competition Tribunal in February 2017, filed a revised complaint against 28 financial institutions, including HSBC Bank plc and HSBC Bank USA, for alleged anti-competitive behaviour in the South African foreign exchange market. In December 2021, a hearing on HSBC Bank plc’s and HSBC Bank USA’s applications to dismiss the revised complaint took place before the South African Competition Tribunal, where a decision remains pending. Beginning in 2013, various HSBC companies and other banks have been named as defendants in a number of putative class actions filed in, or transferred to, the New York District Court arising from allegations that the defendants conspired to manipulate foreign exchange rates. HSBC has reached class settlements with two groups of plaintiffs, including direct and indirect purchasers of foreign exchange products, and the court has granted final approval of these settlements. A putative class action by a group of retail customers of foreign exchange products remains pending. 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 direct purchaser class action settlement in the US. The High Court claim has since been transferred to the Competition Appeals Tribunal and these matters remain pending. Additionally, lawsuits alleging foreign exchange-related misconduct remain pending against HSBC and other banks in courts in Brazil and Israel. It is possible that additional civil actions will be initiated against HSBC in relation to its historical foreign exchange activities. 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. 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, which were consolidated in the New York District Court, 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. In October 2020, HSBC reached a settlement with the plaintiffs to resolve the consolidated action, and the court granted final approval of the settlement in May 2022. 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 ongoing. Silver: Beginning in July 2014, numerous putative class actions were filed in federal district courts in New York, naming HSBC and other members of The London Silver Market Fixing Limited as defendants. The complaints, which were consolidated in the New York District Court, 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. In February 2022, following the conclusion of pre-class certification discovery, the defendants filed a motion seeking to dismiss the plaintiffs’ antitrust claims, which remains pending. 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. These actions are ongoing. 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 2020, the court granted the defendants‘ motion to dismiss the plaintiffs’ third amended complaint but granted the plaintiffs leave to re-plead certain claims. The plaintiffs have filed an appeal. 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. In December 2018 and June 2019, two further actions were brought against PBGB in the High Court of England and Wales by multiple claimants in connection with lending provided by PBGB to third parties in respect of certain Ingenious film finance schemes in which the claimants participated. In January 2022, the parties reached an agreement to resolve these disputes and, in February 2022, the actions against HSBC UK Bank plc (as successor to PBGB) were discontinued. In June 2020, two separate claims were issued against HSBC UK Bank plc (as successor to PBGB) in the High Court of England and Wales by two separate groups of investors in Eclipse film finance schemes in connection with PBGB’s role in the development of such schemes. These actions are ongoing. In April 2021, HSBC UK Bank plc (as successor to PBGB) was served with a claim issued in the High Court of England and Wales in connection with PBGB’s role in the development of the Zeus film finance schemes. This action is at an early stage. There are many factors that may affect the range of outcomes, and the resulting financial impact, of these matters, 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: • investigations by tax administration, regulatory and law enforcement authorities in Argentina, India and elsewhere in connection with allegations of tax evasion or tax fraud, money laundering and unlawful cross-border banking solicitation; • an investigation by the US Commodity Futures Trading Commission regarding interest rate swap transactions related to bond issuances, among other things; • investigations by US regulators concerning compliance with records preservation requirements relating to the use of unapproved electronic messaging platforms for business communications; • an investigation by the PRA in connection with depositor protection arrangements in the UK; • an investigation by the FCA in connection with collections and recoveries operations in the UK; • an investigation by the UK Competition and Markets Authority into potentially anti-competitive arrangements involving historical trading activities relating to certain UK-based fixed income products and related financial instruments; • a putative class action brought in the New York District Court relating to the Mexican government bond market; • two group actions pending in the US courts and a claim issued in the High Court of England and Wales in connection with HSBC Bank plc’s role as a correspondent bank to Stanford International Bank Ltd from 2003 to 2009; and • litigation brought against various HSBC companies in the US courts relating to residential mortgage-backed securities, based primarily on (a) claims brought against HSBC Bank USA in connection with its role as trustee on behalf of various securitisation trusts; and (b) claims against several HSBC companies seeking that the defendants repurchase various mortgage loans. There are many factors that may affect the range of outcomes, and the resulting financial impact, of these matters, which could be significant. |
Transactions with related parti
Transactions with related parties | 6 Months Ended |
Jun. 30, 2022 | |
Related Party [Abstract] | |
Transactions with related parties | 14 Transactions with related parties There were no changes in the related party transactions described in the Annual Report and Accounts 2021 that have had a material effect on the financial position or performance of HSBC in the half-year to 30 June 2022. All related party transactions that took place in the half-year to 30 June 2022 were similar in nature to those disclosed in the Annual Report and Accounts 2021 . |
Business acquisitions and dispo
Business acquisitions and disposals | 6 Months Ended |
Jun. 30, 2022 | |
Non-current assets or disposal groups classified as held for sale or as held for distribution to owners [abstract] | |
Business acquisitions and disposals | 15 Business acquisitions and disposals Business acquisitions The following recently announced acquisitions form part of our strategy to become a market leader in Asian wealth management: • On 23 December 2021, HSBC Asset Management (India) Private Ltd, a subsidiary of the Group, entered into an agreement with L&T Finance Holdings Limited to fully acquire L&T Investment Management Limited for $0.4bn. Completion is expected to occur during 4Q22. L&T Investment Management Limited is a wholly-owned subsidiary of L&T Finance Holdings Limited and the investment manager of the L&T Mutual Fund, with assets under management of $8.9bn at 31 May 2022 and over 2.4 million active folios. • On 28 January 2022, HSBC Insurance (Asia-Pacific) Holdings Limited, a subsidiary of the Group, notified the shareholders of Canara HSBC Life Insurance Company Limited (‘Canara HSBC’) of its intention to increase its shareholding in Canara HSBC up to 49%. HSBC currently has a 26% shareholding, which is accounted for as an associate. Any increase in shareholding is subject to agreement with other shareholders in Canara HSBC, as well as internal and regulatory approvals. Established in 2008, Canara HSBC is a life insurance company based in India. • On 11 February 2022, HSBC Insurance (Asia-Pacific) Holdings Limited completed the acquisition of 100% of AXA Insurance Pte Limited (AXA Singapore) for $0.5bn. A provisional gain on acquisition of $0.1bn was recorded, reflecting the excess of the fair value of net assets acquired (gross assets of $4.5bn and gross liabilities of $3.9bn) over the acquisition price. • On 6 April 2022, The Hongkong and Shanghai Banking Corporation Limited, a subsidiary of the Group, announced it had increased its shareholding in HSBC Qianhai Securities Limited, a partially-owned subsidiary, from 51% to 90%. • On 23 June 2022, HSBC Insurance (Asia) Limited, a subsidiary of the Group, acquired the remaining 50% equity interest in HSBC Life Insurance Company Limited. Headquartered in Shanghai, HSBC Life Insurance Company Limited offers a comprehensive range of insurance solutions covering annuity, whole life, critical illness and unit-linked insurance products. Business disposals In 2021 and 2022, we accelerated the pace of execution on our strategic ambition to be the preferred international financial partner for our clients with the announcements of the planned sales of our retail banking businesses in France and branch operations in Greece, as well as the exit of domestic mass market retail banking in the US. The planned sales in France and Greece are expected to complete in 2023, and the US exit has since completed. US retail banking business On 26 May 2021, we announced our intention to exit our US mass market retail banking business, including our Personal and Advance propositions, as well as retail business banking, and rebranding approximately 20 to 25 of our retail branches into international wealth centres to serve our Premier and Jade customers. In conjunction with the execution of this strategy, HSBC Bank USA, N.A. entered into definitive sale agreements with Citizens Bank and Cathay Bank to sell 90 of our retail branches along with substantially all residential mortgage, unsecured and retail business banking loans and all deposits in our branch network not associated with our Premier, Jade and Private Banking customers. As a result of entering into these sale agreements, assets and liabilities related to the agreements were transferred to held for sale during the second quarter of 2021. In February 2022, we completed the sale of the branch disposal group and recognised a net gain on sale of approximately $0.1bn, which is subject to customary closing adjustments. Included in the sale were $2.1bn of loans and advances to customers and $6.9bn of customer accounts. Certain assets under management associated with our mass market retail banking operations were also transferred. The remaining branches not sold or rebranded have been closed. Planned sale of the retail banking business in France HSBC Continental Europe signed a framework agreement with Promontoria MMB SAS (‘My Money Group’) and its subsidiary Banque des Caraïbes SA, regarding the planned sale of HSBC Continental Europe’s retail banking business in France. The sale, which is subject to regulatory approvals and the satisfaction of other relevant conditions, includes: HSBC Continental Europe’s French retail banking business; the Crédit Commercial de France (‘CCF’) brand; and HSBC Continental Europe’s 100% ownership interest in HSBC SFH (France) and its 3% ownership interest in Crédit Logement. The disposal group is currently expected to be classified as held for sale in 2H22 and the sale would generate an estimated loss before tax including related transaction costs for the Group of $2.1bn, together with an additional $0.5bn impairment of goodwill. At 30 June 2022, a deferred tax liability of $0.4bn was recognised as a consequence of the temporary difference in tax and accounting treatment in respect of the provision for loss on disposal, which was deductible in the French tax return in 2021 but will be accounted for when the disposal group is classified as held for sale in accordance with IFRS 5, at which time the deferred tax liability will reverse. The vast majority of the estimated loss for the write-down of the disposal group to fair value less costs to sell will also be recognised when it is classified as held for sale. Subsequently, the disposal group classified as held for sale will be remeasured at the lower of carrying amount and fair value less costs to sell at each reporting period. Any remaining gain or loss not previously recognised will be recognised at closing, which is currently anticipated to be in 2023. At 30 June 2022, the disposal group included total assets of $25.6bn. Planned sale of the retail banking business in Greece On 24 May 2022, HSBC Continental Europe signed a sale and purchase agreement for the sale of its branch operations in Greece to Pancreta Bank SA. Completion of the transaction is subject to regulatory approval and is currently expected to occur in the first half of 2023. At 30 June 2022, the disposal group included $0.4bn of loans and advances to customers and $2.3bn of customer accounts which met the criteria to be classified as held for sale. In 2Q22, we recognised a loss of $0.1bn, including goodwill impairment, upon reclassification as held for sale in accordance with IFRS 5. Planned sale of the business in Russia Following a strategic review of our business in Russia, HSBC Europe BV (a wholly-owned subsidiary of HSBC Bank plc) has entered into an agreement to sell its wholly-owned subsidiary HSBC Bank (RR) (Limited Liability Company), subject to regulatory approvals. |
Events after the balance sheet
Events after the balance sheet date | 6 Months Ended |
Jun. 30, 2022 | |
Events After Reporting Period [Abstract] | |
Events after the balance sheet date | 16 Events after the balance sheet date In its assessment of events after the balance sheet date, HSBC has considered and concluded that no material events have occurred resulting in adjustments to the financial statements. An interim dividend for the 2022 half-year in respect of the financial year ending 31 December 2022 was approved by the Directors on 1 August 2022, as described in Note 3. |
Interim Report 2022 and statuto
Interim Report 2022 and statutory accounts | 6 Months Ended |
Jun. 30, 2022 | |
Interim Financial Reporting [Abstract] | |
Interim Report 2022 and statutory accounts | 17 Interim Report 2022 and statutory accounts The information in this Interim Report 2022 is unaudited and does not constitute statutory accounts within the meaning of section 434 of the Companies Act 2006. This Interim Report 2022 |
Report of the directors financi
Report of the directors financial review risk report | 6 Months Ended |
Jun. 30, 2022 | |
Report Of The Directors Financial Review Risk Report [Abstract] | |
Report Of The Directors Financial Review Risk Report | Credit risk in the first half of 2022 There were no material changes to credit risk policy in the first half of 2022. During 1H22, we adopted the EBA 'Guidelines on the application of definition of default’ for our retail portfolios. This did not have a material impact on our retail portfolios. This was undertaken for our wholesale lending portfolios during 2021. A summary of our current policies and practices for the management of credit risk is set out in ‘Credit risk management’ on page 137 of the Annual Report and Accounts 2021. At 30 June 2022, gross loans and advances to customers and banks of $1,136bn decreased by $4.8bn, compared with 31 December 2021. This included adverse foreign exchange movements of $54.7bn. Excluding foreign exchange movements, the growth was driven by a $22.3bn increase in wholesale loans and advances to customers, a $16.8bn increase in loans and advances to banks and a $10.8bn increase in personal loans and advances to customers. The increase in wholesale loans and advances to customers was driven mainly in the US (up $4.4bn), the UK (up $3.6bn), Canada (up $3.5bn), India (up $2.3bn), Japan (up $1.8bn), mainland China (up $1.4bn) and UAE (up $1.1bn). The increase in personal loans and advances to customers was driven largely by mortgage growth of $9.9bn, mainly in the UK (up $5.5bn), Australia (up $2.1bn) and Hong Kong (up $1.5bn). In addition, other personal lending increased by $0.9bn, compared with 31 December 2021. The increase was largely driven by secured personal lending of $1.5bn, mainly in Hong Kong, and guaranteed loans in respect of residential property of $0.3bn, mainly in France. This was partly offset by a $0.8bn decline in unsecured personal lending, mainly in Hong Kong. At 30 June 2022, the allowance for ECL of $11.6bn decreased by $0.6bn, compared with 31 December 2021, including favourable foreign exchange movements of $0.6bn. The $11.6bn allowance comprised $11.1bn in respect of assets held at amortised cost, $0.4bn in respect of loan commitments and financial guarantees, and $0.1bn in respect of debt instruments measured at fair value through other comprehensive income (‘FVOCI’). Excluding foreign exchange movements, the allowance for ECL in relation to loans and advances to customers decreased by $0.1bn from 31 December 2021. This was attributable to: • a $0.1bn decrease in wholesale loans and advances to customers, which included a $0.4bn decrease driven by stages 1 and 2, offset by a $0.3bn increase driven by stage 3 net of write-offs and purchased or originated credit impaired (‘POCI‘); and • broadly unchanged allowances for ECL in personal loans and advances to customer, where a $0.2bn decrease driven by stage 3 was offset by a $0.2bn increase in stages 1 and 2. The ECL charge for the first six months of 2022 was $1.1bn, inclusive of recoveries. This was driven by higher stage 3 charges, heightened economic uncertainty and inflationary pressures, partly offset by a release in Covid-19-related allowances. The ECL charge comprised: $0.6bn in respect of personal lending, of which the stage 3 charge was $0.3bn; and $0.5bn in respect of wholesale lending, of which the stage 3 and POCI charge was $0.5bn. Summary of credit risk The following disclosure presents the gross carrying/nominal amount of financial instruments to which the impairment requirements in IFRS 9 are applied and the associated allowance for ECL. The following tables analyse loans by industry sector and represent the concentration of exposures on which credit risk is managed. The allowance for ECL decreased from $12.2bn at 31 December 2021 to $11.6bn at 30 June 2022. Summary of financial instruments to which the impairment requirements in IFRS 9 are applied At 30 Jun 2022 At 31 Dec 2021 Gross carrying/ Allowance for ECL 1 Gross carrying/ Allowance for ECL 1 $m $m $m $m Loans and advances to customers at amortised cost 1,039,130 (10,774) 1,057,231 (11,417) – personal 463,621 (2,918) 478,337 (3,103) – corporate and commercial 509,566 (7,684) 513,539 (8,204) – non-bank financial institutions 65,943 (172) 65,355 (110) Loans and advances to banks at amortised cost 96,481 (52) 83,153 (17) Other financial assets measured at amortised cost 950,007 (281) 880,351 (193) – cash and balances at central banks 363,613 (5) 403,022 (4) – items in the course of collection from other banks 8,073 — 4,136 — – Hong Kong Government certificates of indebtedness 43,866 — 42,578 — – reverse repurchase agreements – non-trading 244,451 — 241,648 — – financial investments 154,294 (75) 97,364 (62) – prepayments, accrued income and other assets 2 135,710 (201) 91,603 (127) Total gross carrying amount on-balance sheet 2,085,618 (11,107) 2,020,735 (11,627) Loans and other credit-related commitments 633,091 (337) 627,637 (379) – personal 237,077 (30) 239,685 (39) – corporate and commercial 263,452 (291) 283,625 (325) – financial 132,562 (16) 104,327 (15) Financial guarantees 17,586 (42) 27,795 (62) – personal 1,120 — 1,130 — – corporate and commercial 12,393 (41) 22,355 (58) – financial 4,073 (1) 4,310 (4) Total nominal amount off-balance sheet 3 650,677 (379) 655,432 (441) 2,736,295 (11,486) 2,676,167 (12,068) Fair Memorandum allowance for ECL 4 Fair Memorandum allowance for ECL 4 $m $m $m $m Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) 274,765 (120) 347,203 (96) 1 Total ECL is recognised in the loss allowance for the financial asset unless 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 104, includes both financial and non-financial assets. The 30 June 2022 balances include $1,918m gross carrying amounts (31 December 2021: $2,424m) and $133m allowances for ECL (31 December 2021: $39m) related to assets held for sale under business disposals as disclosed in Note 15 ‘Business acquisitions and disposals’ on page 127. 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 for expected credit losses and other credit impairment charges’ in the income statement. Measurement uncertainty and sensitivity analysis of ECL estimates There continues to be a high degree of uncertainty in relation to economic scenarios. The increased risks of lower economic growth with higher inflation and unemployment have been exacerbated by the geopolitical environment and the effects of global supply chain disruption. In addition, there are ongoing risks relating to Covid-19 in certain markets. The level and speed of recovery from the global pandemic remains volatile. As a result of this uncertainty, management judgements and estimates continue to reflect a degree of caution both in the selection of economic scenarios and their weightings, and in the use of management judgemental adjustments, described in more detail below. Additional stage 1 and 2 allowances were recorded in respect of the heightened levels of uncertainty. The recognition and measurement of ECL involves the use of significant judgement and estimation. We form multiple economic scenarios based on economic forecasts, apply these assumptions to credit risk models to estimate future credit losses, and probability-weight the results to determine an unbiased ECL estimate. Methodology Five economic scenarios have been used to capture the current economic environment and to articulate management’s view of the range of potential outcomes. Scenarios produced to calculate ECL are aligned to HSBC’s top and emerging risks. Of the four standard scenarios, three are drawn from consensus forecasts and distributional estimates. The fourth scenario, Downside 2, represents management’s view of severe downside risks. In 2Q22, management chose to use an additional fifth scenario, known as Downside 1, to ensure that current supply-side risks are sufficiently reflected in forward economic guidance. The scenario is designed to capture the implications of a sustained global supply shock that keeps inflation elevated for a long period, raises unemployment and depresses GDP growth. The use of an additional scenario is in line with HSBC’s forward economic guidance methodology. Management may include additional scenarios when consensus scenarios are determined to inadequately capture the economic risks faced by the Group. Unlike the consensus scenarios, these additional scenarios are driven by narrative assumptions aligned to an identified risk, and may incorporate shocks that drive economic activity permanently away from its long-term trend. Description of economic scenarios The economic assumptions presented in this section have been formed by HSBC, with reference to external forecasts specifically for the purpose of calculating ECL. Economic forecasts are subject to a high degree of uncertainty in the current environment. Risks to the outlook are dominated by the actions of central banks as they raise interest rates to bring inflation back to target and curtail a rise in inflation expectations. The implications of the Russia-Ukraine war and the progression and management of the Covid-19 pandemic in Asia also remain key sources of uncertainty. Other geopolitical risks, such as the evolution of the UK’s relationship with the EU and differences between the US and China over a range of strategic issues, also present downside risks. The five global scenarios used for the purpose of calculating ECL at 30 June 2022 are the consensus Central scenario, the consensus Upside scenario, the consensus Downside scenario, the Downside 1 scenario and the Downside 2 scenario. The scenarios used to calculate ECL in the Interim Report 2022 are described below. The consensus Central scenario HSBC’s Central scenario features a gradual slowdown in GDP growth through 2022 and 2023, following a strong recovery in 2021. Unemployment is expected to remain low through this period. GDP forecasts have been lowered in recent quarters. In Asia, the downward revisions follow from the stringent public health policy responses to the Covid-19 pandemic in some markets. Elsewhere, the sharp rise in inflation, related to supply shortages and rising commodity prices, has started to weigh on growth as costs rise and real income growth stalls. The Central scenario assumes that inflation peaks in 2022 and, supported by tighter monetary policy, reverts back towards central bank targets by the end of 2023. Global GDP is expected to grow by 3.3% in 2022 in the Central scenario. The average rate of global GDP growth is expected to be 2.8% over the forecast period, which is in line with the average growth rate over the five-year period prior to the onset of the pandemic. Across the key markets, the Central scenario assumes the following: • Economic growth is expected to slow in the near term as supply chain disruptions and price inflation diminish purchasing power. Growth is expected to return to the long-term expected trend in later years as supply chain issues are assumed to ease and inflation returns towards their target. • Unemployment is expected to remain close to pre-pandemic levels and labour market conditions remain tight across our key markets. • Inflation is expected to remain elevated in 2022 as commodity, food and goods prices remain high. Inflation is subsequently expected to converge back to central bank targets over the next two years of the forecast. • Policy interest rates in key markets are expected to rise over the first 18 months of the projection period as central banks tighten policy to bring inflation back towards their targets. Thereafter, they settle at higher levels than they were pre-pandemic. • The West Texas Intermediate oil price is expected to average above $100 in the first two years of the forecast, before dropping back as supply constraints ease. Over the entire projection the oil price is expected to average $81 per barrel. The Central scenario was created from consensus forecasts available in May, and subsequently updated in June. Dispersion between the constituent forecasts of the consensus remains unusually high, suggesting an elevated level of uncertainty. As a consequence, probability weights assigned to the Central scenario vary from 40% to 65% to reflect the uncertainty inherent in economic forecasts across markets. The following table describes key macroeconomic variables and the probabilities assigned in the consensus Central scenario. Central scenario 3Q22–2Q27 UK US Hong Kong Mainland China Canada France UAE Mexico % % % % % % % % GDP growth rate 2022: Annual average growth rate 3.7 2.8 1.1 4.5 4.0 2.9 5.3 1.8 2023: Annual average growth rate 1.4 2.0 3.8 5.1 2.6 1.8 4.3 2.1 2024: Annual average growth rate 1.6 1.9 2.5 5.0 1.8 1.6 3.2 2.2 5-year average 1.6 1.9 2.9 4.9 2.2 1.5 3.3 2.2 Unemployment rate 2022: Annual average rate 4.0 3.6 4.4 3.8 5.5 7.5 3.0 3.8 2023: Annual average rate 4.2 3.6 3.6 3.7 5.4 7.4 2.7 3.8 2024: Annual average rate 4.1 3.6 3.5 3.7 5.6 7.3 2.6 3.8 5-year average 4.1 3.6 3.5 3.7 5.5 7.3 2.6 3.7 House price growth 2022: Annual average growth rate 9.2 14.7 (1.2) (0.5) 18.9 5.8 9.4 7.2 2023: Annual average growth rate 2.9 6.4 1.2 1.3 (2.2) 4.5 3.4 5.3 2024: Annual average growth rate 2.9 4.5 2.5 3.5 (0.5) 4.1 2.5 4.8 5-year average 3.3 5.3 1.9 3.2 2.6 3.9 3.5 4.8 Inflation rate 2022: Annual average rate 8.3 7.0 2.3 2.2 5.4 4.5 3.2 6.8 2023: Annual average rate 4.7 3.2 2.2 2.3 2.8 2.4 2.3 4.5 2024: Annual average rate 2.1 2.2 2.2 2.3 2.3 2.0 2.2 4.0 5-year average 3.2 2.8 2.2 2.4 2.5 2.3 2.2 4.0 Probability 50 60 55 55 60 40 65 60 The graphs compare the respective Central scenario at year end 2021 with current economic expectations in the second quarter of 2022. GDP growth: Comparison of Central scenarios UK Note: Real GDP shown as year-on-year percentage change. Hong Kong Note: Real GDP shown as year-on-year percentage change. US Note: Real GDP shown as year-on-year percentage change. Mainland China Note: Real GDP shown as year-on-year percentage change. The consensus Upside scenario Compared with the consensus Central scenario, the consensus Upside scenario features a faster rate of GDP growth during the first two years, before converging to long-run expected trends. The scenario is demand-driven and is consistent with a number of key upside risk themes. These include the faster resolution of supply chain issues; a rapid and peaceful conclusion to the Russia-Ukraine war; de-escalation of tensions between the US and China; and improved relations between the UK and the EU. The following table describes key macroeconomic variables and the probabilities assigned in the consensus Upside scenario. Consensus Upside scenario ‘best outcome’ UK US Hong Kong Mainland China Canada France UAE Mexico % % % % % % % % GDP growth rate 4.3 (2Q24) 4.7 (1Q23) 12.4 (1Q23) 10.2 (2Q23) 5.9 (2Q23) 3.4 (2Q23) 13.4 (2Q23) 5.8 (2Q23) Unemployment rate 3.2 (2Q24) 3.1 (3Q22) 2.8 (4Q23) 3.5 (1Q23) 4.4 (1Q23) 6.4 (2Q24) 1.9 (4Q23) 3.2 (3Q23) House price growth 9.8 (3Q22) 13.2 (3Q22) 7.7 (2Q23) 6.2 (2Q23) 18.2 (3Q22) 6.1 (3Q23) 15.4 (2Q23) 9.3 (3Q23) Inflation rate 10.2 (3Q22) 7.8 (3Q22) 4.1 (3Q23) 5.8 (1Q23) 6.8 (4Q22) 6.7 (4Q22) 4.0 (4Q23) 7.6 (3Q23) Probability 10 5 5 5 5 10 5 5 Note: Extreme point in the consensus Upside is ‘best outcome’ in the scenario, for example the highest GDP growth and the lowest unemployment rate, in the first two years of the scenario. Inflation is positively correlated with GDP in the Upside scenario, and the ‘best outcome’ also refers to the cyclical high point. Downside scenarios Downside scenarios explore the intensification and crystallisation of a number of key economic and financial risks. Inflation and the monetary policy response to it have become key concerns for global growth. Supply chain disruptions, caused by the Covid-19 pandemic and the Russia-Ukraine war, have led to sharp rises in commodity prices and headline price inflation across many markets. A key concern is that inflation expectations become unanchored from central bank targets, particularly as labour markets and labour supply shortages across some sectors are putting upward pressure on wages. The de-anchoring of inflation expectations would raise the risk that inflation remains elevated for longer, exacerbating cost pressures and the squeeze on household real incomes and corporate margins. In turn, it raises the risk of a more forceful policy response from central banks, a steeper trajectory for interest rates and ultimately, economic recession. Covid-19-related risks also remain significant. Despite the easing of Covid-19-related restrictions across Europe and North America, the emergence of a new Covid-19 variant with greater vaccine-resistance that necessitates a stringent public health policy response remains a key risk to the global outlook. In Asia, stringent public health policy responses to the circulation of highly virulent Covid-19 strains present ongoing risks to growth and global supply chains. The geopolitical environment also present risks, including: • a prolonged Russia-Ukraine war with escalation beyond Ukraine’s borders; • the deterioration of the trading relationship between the UK and the EU over the Northern Ireland Protocol; and • continued differences between the US and other countries with China, which could affect sentiment and restrict global economic activity. The consensus Downside scenario In the consensus Downside scenario, economic activity is considerably weaker compared with the Central scenario. In this scenario, GDP growth weakens, unemployment rates rise and asset prices fall. The scenario is structured as a demand shock where inflation and commodity prices fall, before gradually recovering towards their long-run expected trends. The following table describes key macroeconomic variables and the probabilities assigned in the consensus Downside scenario. Consensus Downside scenario ‘worst outcome’ UK US Hong Kong Mainland China Canada France UAE Mexico % % % % % % % % GDP growth rate (0.7) (2Q23) (1.7) (2Q23) (2.9) (4Q23) 1.3 (1Q23) (0.8) (2Q23) 0.1 (2Q23) (0.6) (2Q23) (1.0) (2Q23) Unemployment rate 5.5 (2Q23) 5.1 (1Q23) 5.4 (4Q22) 4.2 (1Q23) 6.6 (2Q24) 8.5 (1Q23) 4.0 (1Q23) 4.7 (1Q23) House price growth (4.1) (3Q23) 2.9 (1Q24) (8.3) (3Q23) (4.3) (2Q23) (9.0) (2Q23) 2.4 (2Q23) (4.8) (4Q23) 2.2 (3Q23) Inflation rate 0.7 (2Q24) 0.7 (2Q23) (0.5) (3Q23) (0.7) (3Q23) 0.0 (2Q23) (0.6) (2Q23) 0.4 (4Q23) 2.3 (3Q23) Probability 0 15 20 30 15 0 20 10 Note: Extreme point in the consensus Downside is ‘worst outcome’ in the scenario, for example the lowest GDP growth and the highest unemployment rate, in the first two years of the scenario. Inflation is positively correlated with GDP in the Downside scenario, and the ‘worst outcome’ refers to the cyclical low point. Downside 1 scenario An additional Downside scenario has been created to explore the implications of a prolonged period of high price inflation, a more aggressive upward path for policy interest rates, higher unemployment and a global recession. In this scenario, the Russia-Ukraine war leads to a sustained supply shock that keeps inflation elevated above the baseline for a longer period than in the other scenarios. The scenario assumes that major central banks are slow to respond, but as inflation expectations start to de-anchor from the inflation target, they resort to taking stronger action. The rise in interest rates is expected to cause a severe tightening of financial conditions that ultimately results in a global economic contraction later in the projection period. The following table describes key macroeconomic variables and the probabilities assigned in the Downside 1 scenario. Downside 1 scenario ’worst outcome’ UK US Hong Kong Mainland China Canada France UAE Mexico % % % % % % % % GDP growth rate (3.7) (1Q25) (4.1) (4Q24) (3.0) (4Q23) (1.2) (1Q25) (0.6) (4Q23) (3.1) (1Q25) (2.5) (1Q25) (5.3) (1Q25) Unemployment rate 6.6 (1Q24) 8.8 (4Q24) 6.5 (4Q24) 4.8 (1Q25) 9.9 (2Q25) 9.1 (3Q25) 3.0 (3Q22) 5.2 (2Q25) House price growth (11.9) (1Q24) (4.2) (1Q25) (7.6) (2Q25) (9.8) (3Q23) (8.2) (4Q23) (2.0) (4Q24) (4.4) (2Q25) 2.8 (4Q25) Inflation rate 9.5 (3Q22) 6.9 (3Q22) 4.2 (1Q23) 4.2 (1Q23) 6.3 (4Q22) 5.0 (4Q22) 3.7 (3Q22) 6.8 (3Q22) Probability 30 10 15 5 10 35 5 15 Note: Extreme point in the Downside 1 is the ‘worst outcome’ in the scenario, for example the lowest GDP growth and the highest inflation and unemployment rate. Downside 2 scenario The Downside 2 scenario features a deep global recession and reflects management’s view of the tail of the economic risk distribution. It incorporates the crystallisation of a number of risks simultaneously, including further escalation of the Russia-Ukraine war, worsening of supply chain disruptions and the emergence of a vaccine-resistant Covid-19 variant that necessitates a stringent public health policy response. This scenario features an initial supply-side shock that pushes up inflation. This impulse is expected to prove short lived as a large downside demand shock causes commodity prices to correct sharply and global price inflation to slow as a severe and prolonged recession takes hold. The following table describes key macroeconomic variables and the probabilities assigned in the Downside 2 scenario. Downside 2 scenario ‘worst outcome’ UK US Hong Kong Mainland China Canada France UAE Mexico % % % % % % % % GDP growth rate (6.3) (2Q23) (4.9) (2Q23) (9.3) (2Q23) (5.0) (2Q23) (3.4) (3Q23) (5.5) (2Q23) (6.5) (4Q23) (7.2) (2Q23) Unemployment rate 8.5 (3Q23) 9.1 (1Q24) 5.9 (2Q23) 5.4 (2Q24) 11.1 (4Q23) 10.2 (2Q24) 4.6 (3Q22) 5.7 (4Q23) House price growth (15.2) (3Q23) (10.8) (2Q23) (10.8) (3Q23) (18.7) (2Q23) (30.1) (3Q23) (4.5) (2Q24) (11.3) (1Q24) 1.1 (4Q23) Inflation rate (2.2) (4Q23) 1.5 (2Q24) (0.5) (1Q24) 1.4 (2Q24) 0.9 (2Q24) (2.7) (4Q23) 1.7 (2Q24) 3.4 (2Q24) Probability 10 10 5 5 10 15 5 10 Scenario weightings In reviewing the economic conjuncture, the level of uncertainty and risk, management has considered both global and country-specific factors. This has led management to assigning scenario probabilities that are tailored to its view of uncertainty in individual markets. A key consideration in 2Q22 has been the high level of uncertainty attached to the Central scenario projections. These concerns focused on: • the risks of higher inflation given the risks attached to gas supply security in Europe and global oil supply, which raises the possibility of a more significant impact on real incomes and GDP growth; • market interest rate expectations that imply a rapid and significant change to the interest rate environment; and • the progression of the Covid-19 pandemic in Asian countries and the impact of stringent public policy responses on growth in the region and global supply chains. In mainland China, increased weights have been assigned to Downside scenarios in light of the stringent public health responses to the Covid-19 pandemic, the virulence of current strains, and the observed impact on economic activity of the recent restrictions. In Hong Kong, the recent reopening has increased confidence in the Central scenario since the first quarter. In each market, the combined weighting of the consensus Upside and Central scenarios was 60%. In the UK and US, the surge in price inflation and a squeeze on household real incomes have led to strong monetary policy responses from central banks. Economic and financial volatility remains elevated due to uncertainty around the implications of higher interest rates. For Canada and Mexico, similar risk themes dominate, and the connectivity to the US has also been a key consideration. For the UK, the consensus Upside and Central scenarios had a combined weighting of 60%. In the other three markets, the combined weighting of the consensus Upside and Central scenarios was 65%. France faces the greatest economic uncertainties of our key markets. Uncertainties around the outlook remain elevated due to Europe’s exposure to the Russia-Ukraine war through the economic costs incurred from the imposition of sanctions, trade disruption and energy dependence on Russia. Additional risks stem from the ECB’s exit from a long period of negative interest rate policy. The consensus Upside and Central scenarios had a combined weighting of 50%. In the UAE, the positive impact from elevated oil prices remains significant and management concluded that the outlook for the UAE was the least uncertain of all our key markets. The consensus Upside and Central scenarios had a combined weighting of 70%. The following graphs show the historical and forecasted GDP growth rate for the various economic scenarios in our four largest markets. US UK Hong Kong Mainland China Note: Real GDP shown as year-on-year percentage change. Critical accounting estimates and judgements The calculation of ECL under IFRS 9 involves significant judgements, assumptions and estimates, as set out in the Annual Report and Accounts 2021 under ‘Critical accounting estimates and judgements’. The level of estimation uncertainty and judgement has remained high since 31 December 2021, including judgements relating to: • the selection and weighting of economic scenarios, given rapidly changing economic conditions and a wide distribution of economic forecasts. There is judgement in making assumptions about the effects of inflation, supply chain disruption and length of time and severity of the continuing economic effects of the Covid-19 pandemic and health policy responses; and • estimating the economic effects of those scenarios on ECL, particularly as the historical relationship between macroeconomic variables and defaults might not reflect the dynamics of high inflation scenarios. How economic scenarios are reflected in ECL calculations The methodologies for the application of forward economic guidance into the calculation of ECL for wholesale and retail loans and portfolios are set out on page 148 of the Annual Report and Accounts 2021 . Models are used to reflect economic scenarios on ECL estimates. These models are based largely on historical observations and correlations with default. Economic forecasts and ECL model responses to these forecasts are subject to a high degree of uncertainty in the current environment, and models continue to be supplemented by management judgemental adjustments where required. Management judgemental adjustments In the context of IFRS 9, management judgemental adjustments are typically increases or decreases to the ECL at either a customer, segment or portfolio level to account for late-breaking events, model deficiencies and other assessments applied during management review and challenge. This includes refining model inputs and outputs and using post-model adjustments based on management judgement and higher level quantitative analysis for impacts that are difficult to model. The wholesale and retail management judgemental adjustments are presented as part of the global business impairment committees with independent review from Model Risk Management. This is in line with the governance process for IFRS 9 as set out on page 137 of the Annual Report and Accounts 2021 . The drivers of the management judgemental adjustments continue t o evolve with the economic environment. At 30 June 2022, management judgemental adjustments reduced by $0.5bn compared with 31 December 2021. Adjustments related to Covid-19 were reduced, while adjustments for sector-specific risks, and sanction and geopolitical risks were maintained. They were also maintained to account for elevated uncertainty under the high inflation scenarios. We have internal governance in place to monitor management judgement al adjustments regularly and, where possible, to reduce the reliance on these through model recalibration or redevelopment, as appropriate. Given the level of economic uncertainty and idiosyncratic events, we believe that management judgemental adjustments will continue to be a key component of ECL for the foreseeable future. Management judgemental adjustments made in estimating the reported ECL at 30 June 2022 are set out in the following table. Management judgemental adjustments to ECL at 30 June 2022 1 Retail Wholesale Total $bn $bn $bn Banks, sovereigns and government entities — — Corporate lending adjustments 0.8 0.8 Inflation-related adjustments 0.1 0.1 Other macroeconomic-related adjustments 0.1 0.1 Pandemic-related economic recovery adjustments 0.1 0.1 Other retail lending adjustments 0.2 0.2 Total 0.4 0.8 1.2 Management judgemental adjustments to ECL at 31 December 2021 1 Retail Wholesale Total $bn $bn $bn Banks, sovereigns and government entities (0.1) (0.1) Corporate lending adjustments 1.3 1.3 Other macroeconomic-related adjustments — Pandemic-related economic recovery adjustments 0.2 0.2 Other retail lending adjustments 0.3 0.3 Total 0.5 1.2 1.7 1 Management judgemental adjustments presented in the table reflect increases or (decreases) to ECL, respectively. In the wholesale portfolio, management judgemental adjustments were an ECL increase of $0.8bn (31 December 2021: $1.2bn increase). • Adjustments to corporate exposures increased ECL by $0.8bn at 30 June 2022 (31 December 2021: $1.3bn increase). These principally reflected management judgements for high-risk and vulnerable sectors in some of our key markets, supported by credit experts’ input, portfolio risk metrics and quantitative analyses. The highest increase was observed on the real estate sector, including a $0.2bn ECL increase to reflect the uncertainty of the higher risk Chinese commercial real estate exposures, booked in Hong Kong. Adjustments also reflected the risk of exposures to the Russia-Ukraine war and a high degree of macroeconomic uncertainty, sanction risk and geopolitical risk in Europe. In the retail portfolio, management judgemental adjustments were an ECL increase of $0.4bn at 30 June 2022 (31 December 2021: $0.5bn increase). • Inflation-related adjustments increased ECL by $0.1bn (31 December 2021: $0.0bn). These adjustments addressed where country-specific inflation risks were not fully captured by the modelled output. • Other macroeconomic-related adjustments increased ECL by $0.1bn (31 December 2021: $0.0bn). These adjustments were primarily in relation to model oversensitivity as well as country-specific risks related to future macroeconomic conditions. • Pandemic-related economic recovery adjustments increased ECL by $0.1bn (31 December 2021: $0.2bn). Compared with 31 December 2021, while the rationale for applying the adjustment remained the same, the amount of adjustment decreased as this was made only for markets in Asia where there remain concerns regarding Covid-19. • Other retail lending adjustments increased ECL by $0.2bn (31 December: $0.3bn increase), reflecting those customers who remain in or have recently exited customer support programmes, and all other data and model adjustments. Economic scenarios sensitivity analysis of ECL estimates Management considered the sensitivity of the ECL outcome against the economic forecasts as part of the ECL governance process by recalculating the ECL under each scenario described above for selected portfolios, applying a 100% weighting to each scenario in turn. The weighting is reflected in both the determination of a significant increase in credit risk and the measurement of the resulting ECL. The ECL calculated for the Upside and Downside scenarios should not be taken to represent the upper and lower limits of possible ECL outcomes. The impact of defaults that might occur in the future under different economic scenarios is captured by recalculating ECL for loans in stages 1 and 2 at the balance sheet date. The population of stage 3 loans (in default) at the balance sheet date is unchanged in these sensitivity calculations. Stage 3 ECL would only be sensitive to changes in forecasts of future economic conditions if the loss-given default of a particular portfolio was sensitive to these changes. There is a particularly high degree of estimation uncertainty in numbers representing tail risk scenarios when assigned a 100% weighting. For wholesale credit risk exposures, the sensitivity analysis excludes ECL for financial instruments related to defaulted obligors because the measurement of ECL is relatively more sensitive to credit factors specific to the o |
Basis of preparation and sign_2
Basis of preparation and significant accounting policies (Policies) | 6 Months Ended |
Jun. 30, 2022 | |
Corporate Information And Statement Of IFRS Compliance [Abstract] | |
Compliance with International Financial Reporting Standards | (a) Compliance with International Financial Reporting Standards Our interim condensed consolidated financial statements have been prepared on the basis of the policies set out in the 2021 annual financial statements and in accordance with IAS 34 ‘Interim Financial Reporting’ as adopted by the UK, IAS 34 ‘Interim Financial Reporting’ as issued by the International Accounting Standards Board (‘IASB’), IAS 34 ‘Interim Financial Reporting’ as adopted by the EU, and the Disclosure Guidance and Transparency Rules sourcebook of the UK’s Financial Conduct Authority. Therefore, they include an explanation of events and transactions that are significant to an understanding of the changes in HSBC’s financial position and performance since the end of 2021. These financial statements should be read in conjunction with the Annual Report and Accounts 2021, which were prepared in accordance with UK-adopted international accounting standards in conformity with the requirements of the Companies Act 2006 and international financial reporting standards adopted pursuant to Regulation (EC) No 1606/2002 as it applies in the European Union. These financial statements were also prepared in accordance with International Financial Reporting Standards (‘IFRSs’) as issued by the IASB, including interpretations issued by the IFRS Interpretations Committee. At 30 June 2022, there were no unendorsed standards effective for the half-year to 30 June 2022 affecting these financial statements, and there was no difference between IFRSs adopted by the UK, IFRSs as adopted by the EU, and IFRSs issued by the IASB in terms of their application to HSBC. Standards applied during the half-year to 30 June 2022 |
Use of estimates and judgements | (b) Use of estimates and judgements Management believes that our critical accounting estimates and judgements are those that relate to impairment of amortised cost and FVOCI debt financial assets, the valuation of financial instruments, deferred tax assets, provisions, interests in associates, impairment of goodwill and non-financial assets, and post-employment benefit plans. Management’s judgement with respect to the recognition of a deferred tax asset on the historical tax losses of HSBC Holdings changed during the period and a deferred tax asset of $1.8bn was recognised at 1H22. Management’s view is that improved profit forecasts for the UK, which reflect higher market interest rates and expectations of future increases, as well as the results for 1H22, represent convincing evidence that sufficient future taxable profits will be available to support recognition of the deferred tax asset. The improved forecasts reduced the expected recovery period of these tax losses, reducing the estimation uncertainty such that recognition of a deferred tax asset was considered appropriate. Apart from the above deferred tax matter and estimates relating to ECL impairment, there were no material changes in the current period to any of the other critical accounting estimates and judgements disclosed in 2021, which are stated on pages 90 and 319 of the Annual Report and Accounts 2021. |
Future accounting developments | (d) Future accounting developments IFRS 17 ‘Insurance Contracts’ was issued in May 2017, with amendments to the standard issued in June 2020 and December 2021. It has been adopted in its entirety for use in the UK. IFRS 17 has been adopted by the EU subject to certain optional exemptions, except for the December 2021 requirements which are pending adoption. The standard sets out the requirements that an entity should apply in accounting for insurance contracts it issues and reinsurance contracts it holds. Following the amendments, IFRS 17 will be effective from 1 January 2023. The Group is in the process of implementing IFRS 17. Industry practice and interpretation of the standard are still developing. Therefore, the likely impact of its implementation remains uncertain. However, compared with the Group’s current accounting policy for insurance, there will be no present value of in-force long-term insurance business (‘PVIF’) asset recognised. Instead, the estimated future profit will be included in the measurement of the insurance contract liability as the contractual service margin and gradually recognised in revenue as services are provided over the duration of the insurance contract. |
Going concern | (e) 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, capital requirements and capital resources. These considerations include stressed scenarios, as well as considering potential impacts from other top and emerging risks, and the related impact on profitability, capital and liquidity. |
Net fee income (Tables)
Net fee income (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Analysis of income and expense [abstract] | |
Summary of net fee income | Half-year to 30 Jun 30 Jun 31 Dec 2022 2021 2021 $m $m $m Net fee income by product Funds under management 1,224 1,304 1,352 Cards 1,201 1,035 1,178 Credit facilities 790 827 800 Account services 720 714 738 Broking income 707 895 706 Unit trusts 408 603 485 Underwriting 257 576 441 Global custody 471 500 478 Remittances 394 361 414 Imports/exports 321 300 320 Insurance agency commission 163 176 165 Other 1,293 1,167 1,253 Fee income 7,949 8,458 8,330 Less: fee expense (1,885) (1,784) (1,907) Net fee income 6,064 6,674 6,423 Net fee income by global business Wealth and Personal Banking 2,619 3,042 2,852 Commercial Banking 1,919 1,786 1,853 Global Banking and Markets 1,526 1,857 1,746 Corporate Centre — (11) (28) |
Dividends (Tables)
Dividends (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Interim Financial Reporting [Abstract] | |
Disclosure of dividends to shareholders | Dividends paid to shareholders of HSBC Holdings plc Half-year to 30 Jun 2022 30 Jun 2021 31 Dec 2021 Per share Total Settled in scrip Per share Total Settled in scrip Per share Total Settled in scrip $ $m $m $ $m $m $ $m $m Dividends paid on ordinary shares In respect of previous year: – interim dividend — — — 0.15 3,059 — — — — – second interim dividend 0.18 3,576 — — — — — — — In respect of current year: – interim dividend — — — — — — 0.07 1,421 — Total 0.18 3,576 — 0.15 3,059 — 0.07 1,421 — Total dividends on preference shares classified as equity (paid quarterly) 1 — — 4.99 7 — — Total coupons on capital securities classified as equity 626 666 637 Dividends to shareholders 4,202 3,732 2,058 1 HSBC Holdings called $1,450m 6.20% non-cumulative US dollar preference shares on 10 December 2020. The security was redeemed and cancelled on 13 January 2021. |
Disclosure of coupons on capital securities classified as equity | Total coupons on capital securities classified as equity Half-year to 30 Jun 30 Jun 31 Dec 2022 2021 2021 First call date Per security $m $m $m Perpetual subordinated contingent convertible securities 1 – $2,000m issued at 6.875% 2 Jun 2021 $68.750 — 69 — – $2,250m issued at 6.375% Sep 2024 $63.750 72 72 71 – $2,450m issued at 6.375% Mar 2025 $63.750 78 78 78 – $3,000m issued at 6.000% May 2027 $60.000 90 90 90 – $2,350m issued at 6.250% Mar 2023 $62.500 73 73 74 – $1,800m issued at 6.500% Mar 2028 $65.000 59 59 58 – $1,500m issued at 4.600% Dec 2030 $46.000 34 35 34 – $1,000m issued at 4.000% 3 Mar 2026 $40.000 20 — 20 – $1,000m issued at 4.700% 4 Mar 2031 $47.000 24 — 24 – €1,500m issued at 5.250% Sep 2022 €52.500 44 47 46 – €1,000m issued at 6.000% Sep 2023 €60.000 33 34 36 – €1,250m issued at 4.750% July 2029 €47.500 34 36 36 – £1,000m issued at 5.875% Sep 2026 £58.750 37 41 39 – SGD1,000m issued at 4.700% 5 Jun 2022 SGD47.000 14 18 17 – SGD750m issued at 5.000% Sep 2023 SGD50.000 14 14 14 Total 626 666 637 1 Discretionary coupons are paid twice a year on the perpetual subordinated contingent convertible securities, in denominations of 1,000 per security in each security’s issuance currency. 2 This security was called by HSBC Holdings on 15 April 2021 and was redeemed and cancelled on 1 June 2021. 3 This security was issued by HSBC Holdings on 9 March 2021. The first call date commences six calendar months prior to the reset date of 9 September 2026. 4 This security was issued by HSBC Holdings on 9 March 2021. The first call date commences six calendar months prior to the reset date of 9 September 2031. 5 This security was called by HSBC Holdings on 4 May 2022 and was redeemed and cancelled on 8 June 2022. |
Earnings per share (Tables)
Earnings per share (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Earnings per share [abstract] | |
Disclosure of detailed information on earnings per share | Profit attributable to ordinary shareholders of the parent company Half-year to 30 Jun 30 Jun 31 Dec 2022 2021 2021 $m $m $m Profit attributable to shareholders of the parent company 8,915 7,949 5,968 Dividend payable on preference shares classified as equity — (7) — Coupon payable on capital securities classified as equity (626) (666) (637) Profit attributable to ordinary shareholders of the parent company 8,289 7,276 5,331 Basic and diluted earnings per share Half-year to 30 Jun 2022 30 Jun 2021 31 Dec 2021 Profit Number Amount per share Profit Number Amount per share Profit Number Amount per share $m (millions) $ $m (millions) $ $m (millions) $ Basic 1 8,289 19,954 0.42 7,276 20,211 0.36 5,331 20,183 0.26 Effect of dilutive potential ordinary shares 130 97 103 Diluted 1 8,289 20,084 0.41 7,276 20,308 0.36 5,331 20,286 0.26 |
Segmental analysis (Tables)
Segmental analysis (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Operating Segments [Abstract] | |
Adjusted profit before tax and balance sheet data | HSBC adjusted profit before tax and balance sheet data Half-year to 30 Jun 2022 Wealth and Personal Banking Commercial Global Corporate Total $m $m $m $m $m Net operating income/(expense) before change in expected credit losses and other credit impairment charges 1 10,922 7,217 7,841 (290) 25,690 – external 10,569 7,281 8,867 (1,027) 25,690 – inter-segment 353 (64) (1,026) 737 — – of which: net interest income/(expense) 7,658 5,007 2,296 (496) 14,465 Change in expected credit losses and other credit impairment (charges)/recoveries (573) (288) (227) (2) (1,090) Net operating income 10,349 6,929 7,614 (292) 24,600 Total operating expenses (7,411) (3,351) (4,735) 121 (15,376) Operating profit 2,938 3,578 2,879 (171) 9,224 Share of profit in associates and joint ventures 8 — — 1,441 1,449 Adjusted profit before tax 2,946 3,578 2,879 1,270 10,673 % % % % % Share of HSBC’s adjusted profit before tax 27.6 33.5 27.0 11.9 100.0 Adjusted cost efficiency ratio 67.9 46.4 60.4 41.7 59.9 Adjusted balance sheet data $m $m $m $m $m Loans and advances to customers (net) 475,464 348,253 204,097 542 1,028,356 Interests in associates and joint ventures 484 14 121 28,827 29,446 Total external assets 882,490 619,490 1,318,425 165,015 2,985,420 Customer accounts 836,026 479,680 335,033 562 1,651,301 HSBC adjusted profit before tax and balance sheet data (continued) Half-year to 30 Jun 2021 Wealth and Personal Banking Commercial Global Corporate Centre Total $m $m $m $m $m Net operating income/(expense) before change in expected credit losses and other credit impairment charges 1 10,980 6,353 7,518 (117) 24,734 – external 10,782 6,326 8,305 (679) 24,734 – inter-segment 198 27 (787) 562 — – of which: net interest income/(expense) 6,807 4,172 1,937 (374) 12,542 Change in expected credit losses and other credit impairment charges 38 228 405 4 675 Net operating income/(expense) 11,018 6,581 7,923 (113) 25,409 Total operating expenses (7,277) (3,371) (4,724) (148) (15,520) Operating profit/(loss) 3,741 3,210 3,199 (261) 9,889 Share of profit in associates and joint ventures 10 1 — 1,638 1,649 Adjusted profit before tax 3,751 3,211 3,199 1,377 11,538 % % % % % Share of HSBC’s adjusted profit before tax 32.5 27.8 27.7 12.0 100.0 Adjusted cost efficiency ratio 66.3 53.1 62.9 (126.5) 62.7 Adjusted balance sheet data $m $m $m $m $m Loans and advances to customers (net) 458,573 329,873 205,044 1,065 994,555 Interests in associates and joint ventures 467 15 121 27,315 27,918 Total external assets 859,383 581,741 1,164,916 184,436 2,790,476 Customer accounts 793,277 455,006 316,865 794 1,565,942 Half-year to 31 Dec 2021 Net operating income/(expense) before change in expected credit losses and other credit impairment charges 1 10,439 6,556 6,878 (296) 23,577 – external 10,354 6,460 7,676 (913) 23,577 – inter-segment 85 96 (798) 617 — – of which: net interest income/(expense) 6,955 4,387 2,032 (353) 13,021 Change in expected credit losses and other credit impairment (charges)/recoveries 215 40 (80) (1) 174 Net operating income/(expense) 10,654 6,596 6,798 (297) 23,751 Total operating expenses (7,574) (3,355) (4,831) 313 (15,447) Operating profit 3,080 3,241 1,967 16 8,304 Share of profit in associates and joint ventures 24 — — 1,353 1,377 Adjusted profit before tax 3,104 3,241 1,967 1,369 9,681 % % % % % Share of HSBC’s adjusted profit before tax 32.1 33.5 20.3 14.1 100.0 Adjusted cost efficiency ratio 72.6 51.2 70.2 105.7 65.5 Adjusted balance sheet data $m $m $m $m $m Loans and advances to customers (net) 462,452 332,710 198,854 686 994,702 Interests in associates and joint ventures 490 13 119 27,938 28,560 Total external assets 889,349 589,834 1,157,478 175,688 2,812,349 Customer accounts 820,564 481,781 324,239 590 1,627,174 1 Net operating income before change in expected credit losses and other credit impairment charges, also referred to as revenue. |
Reported 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: Half-year to 30 Jun 2022 30 Jun 2021 31 Dec 2021 $m $m $m Reported external net operating income by country/territory 1 25,236 25,551 24,001 – UK 6,554 5,610 5,299 – Hong Kong 6,837 7,476 6,769 – US 1,964 1,993 1,802 – France 1,158 1,228 951 – other countries/territories 8,723 9,244 9,180 |
Reconciliation of reported and adjusted items | Adjusted results reconciliation Half-year to 30 Jun 2022 30 Jun 2021 31 Dec 2021 Adjusted Significant items Reported Adjusted Currency translation Significant items Reported Adjusted Currency translation Significant items Reported $m $m $m $m $m $m $m $m $m $m $m Revenue 1 25,690 (454) 25,236 24,734 1,069 (252) 25,551 23,577 711 (287) 24,001 ECL (1,090) — (1,090) 675 44 — 719 174 35 — 209 Operating expenses (15,376) (1,043) (16,419) (15,520) (749) (818) (17,087) (15,447) (510) (1,576) (17,533) Share of profit in associates and joint ventures 1,449 — 1,449 1,649 7 — 1,656 1,377 13 — 1,390 Profit before tax 10,673 (1,497) 9,176 11,538 371 (1,070) 10,839 9,681 249 (1,863) 8,067 1 Net operating income before change in expected credit losses and other credit impairment charges, also referred to as revenue. Adjusted balance sheet reconciliation At 30 Jun 2022 At 31 Dec 2021 Reported and adjusted Adjusted Currency translation Reported $m $m $m $m Loans and advances to customers (net) 1,028,356 994,702 51,112 1,045,814 Interests in associates and joint ventures 29,446 28,560 1,049 29,609 Total external assets 2,985,420 2,812,349 145,590 2,957,939 Customer accounts 1,651,301 1,627,174 83,400 1,710,574 Adjusted profit reconciliation Half-year to 30 Jun 2022 30 Jun 2021 31 Dec 2021 $m $m $m Adjusted profit before tax 10,673 11,538 9,681 Significant items (1,497) (1,070) (1,863) – customer redress programmes (revenue) (14) 18 (7) – disposals, acquisitions and investment in new businesses (revenue) 1 (288) — — – fair value movements on financial instruments 2 (220) (194) (48) – restructuring and other related costs (revenue) 3 68 (70) (237) – customer redress programmes (operating expenses) 6 (17) (32) – impairment of goodwill and other intangible assets (9) — (587) – restructuring and other related costs (operating expenses) (1,040) (848) (988) – currency translation on significant items 41 36 Currency translation 371 249 Reported profit before tax 9,176 10,839 8,067 1 Includes losses from classifying businesses as held-for-sale as part of a broader restructuring of our European business. 2 Includes fair value movements on non-qualifying hedges and debt valuation adjustments on derivatives. 3 Comprises gains and losses relating to the business update in February 2020, including losses associated with RWA reduction commitments. |
Fair values of financial inst_3
Fair values of financial instruments carried at fair value (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Fair Value Measurement [Abstract] | |
Disclosure of fair value measurement of assets | Financial instruments carried at fair value and bases of valuation Valuation techniques Quoted Using With significant Total Recurring fair value measurements $m $m $m $m At 30 Jun 2022 Assets Trading assets 148,156 66,218 2,976 217,350 Financial assets designated and otherwise mandatorily measured at fair value through profit or loss 15,558 15,252 15,063 45,873 Derivatives 2,556 258,256 2,111 262,923 Financial investments 191,631 82,237 2,709 276,577 Liabilities Trading liabilities 60,623 19,595 351 80,569 Financial liabilities designated at fair value 1,135 116,406 8,465 126,006 Derivatives 2,758 246,391 2,320 251,469 At 31 Dec 2021 Assets Trading assets 180,423 65,757 2,662 248,842 Financial assets designated and otherwise mandatorily measured at fair value through profit or loss 17,937 17,629 14,238 49,804 Derivatives 2,783 191,621 2,478 196,882 Financial investments 247,745 97,838 3,389 348,972 Liabilities Trading liabilities 63,437 20,682 785 84,904 Financial liabilities designated at fair value 1,379 136,243 7,880 145,502 Derivatives 1,686 186,290 3,088 191,064 Transfers between Level 1 and Level 2 fair values Assets Liabilities Financial investments Trading assets Designated and otherwise mandatorily measured at fair value Derivatives Trading liabilities Designated at fair value Derivatives $m $m $m $m $m $m $m At 30 Jun 2022 Transfers from Level 1 to Level 2 2,407 1,937 538 — 55 — — Transfers from Level 2 to Level 1 4,066 3,488 99 — 203 — — At 31 Dec 2021 Transfers from Level 1 to Level 2 8,477 6,553 1,277 103 181 — 212 Transfers from Level 2 to Level 1 6,007 4,132 768 — 638 — — 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 647 90 14,704 — 15,441 91 — — 91 Asset-backed securities 468 114 29 — 611 — — — — Structured notes — — — — — — 8,465 — 8,465 Derivatives with monolines — — — — — — — — — Other derivatives — — — 2,111 2,111 — — 2,320 2,320 Other portfolios 1,594 2,772 330 — 4,696 260 — — 260 At 30 Jun 2022 2,709 2,976 15,063 2,111 22,859 351 8,465 2,320 11,136 Private equity including strategic investments 544 2 13,732 — 14,278 9 — — 9 Asset-backed securities 1,008 132 1 — 1,141 — — — — Structured notes — — — — — — 7,879 — 7,879 Other derivatives — — — 2,478 2,478 — — 3,088 3,088 Other portfolios 1,837 2,528 505 — 4,870 776 1 — 777 At 31 Dec 2021 3,389 2,662 14,238 2,478 22,767 785 7,880 3,088 11,753 Movement in Level 3 financial instruments Assets Liabilities Financial investments Trading assets Designated and otherwise mandatorily measured at fair value through profit or loss Derivatives Trading liabilities Designated at fair value Derivatives $m $m $m $m $m $m $m At 1 Jan 2022 3,389 2,662 14,238 2,478 785 7,880 3,088 Total gains/(losses) recognised in profit or loss (7) (22) 310 408 (45) (1,103) 165 – net income/(losses) from financial instruments held for trading or managed on a fair value basis — (22) — 408 (45) — 165 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 310 — — (1,103) — – gains less losses from financial investments held at fair value through other comprehensive income (7) — — — — — — Total gains/(losses) recognised in other comprehensive income (‘OCI’) (287) (165) (336) (191) (12) (398) (231) – financial investments: fair value losses (140) — — — — (18) — – exchange differences (147) (165) (336) (191) (12) (380) (231) Purchases 506 1,026 1,707 — 13 — — New issuances — — — — 4 2,511 — Sales (186) (698) (299) — (95) (22) — Settlements (273) (373) (561) (509) (636) (723) (580) Transfers out (501) (287) (36) (290) (7) (549) (437) Transfers in 68 833 40 215 344 869 315 At 30 Jun 2022 2,709 2,976 15,063 2,111 351 8,465 2,320 Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at 30 Jun 2022 — (37) 291 929 1 423 3,494 – net income/(losses) from financial instruments held for trading or managed on a fair value basis — (37) — 929 1 — 3,494 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 291 — — 423 — At 1 Jan 2021 3,654 2,499 11,477 2,670 162 5,306 4,188 Total gains/(losses) recognised in profit or loss 2 (155) 1,038 195 15 (456) 466 – net income/(losses) from financial instruments held for trading or managed on a fair value basis — (155) — 195 15 — 466 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 1,038 — — (456) — – gains less losses from financial investments held at fair value through other comprehensive income 2 — — — — — — Total losses recognised in other comprehensive income (‘OCI’) (391) 23 (114) 23 (3) 2 29 – financial investments: fair value losses (360) — — — — — — – exchange differences (31) 23 (114) 23 (3) 2 29 Purchases 390 1,094 1,631 — 482 — — New issuances — — — — 24 2,725 — Sales (214) (244) (499) — — — — Settlements (177) (494) (436) (359) (8) (896) (1,537) Transfers out (311) (512) (159) (126) (1) (339) (221) Transfers in 290 298 50 274 186 895 496 At 30 Jun 2021 3,243 2,509 12,988 2,677 857 7,237 3,421 Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at 30 Jun 2021 — (99) 885 175 2 106 (4) – net income/(losses) from financial instruments held for trading or managed on a fair value basis — (99) — 175 2 — (4) – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 885 — — 106 — Movement in Level 3 financial instruments (continued) Assets Liabilities Financial investments Trading assets Designated and otherwise mandatorily measured at fair value through Derivatives Trading liabilities Designated Derivatives $m $m $m $m $m $m $m At 1 Jul 2021 3,243 2,509 12,988 2,677 857 7,237 3,421 Total gains recognised in profit or loss (12) (223) 715 2,042 1 (380) 2,117 – net income from financial instruments held for trading or managed on a fair value basis — (223) — 2,042 1 — 2,117 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 715 — — (380) — – gains less losses from financial investments held at fair value through other comprehensive income (12) — — — — — — Total gains recognised in other comprehensive income (‘OCI’) (130) (41) (171) (50) (5) (63) (55) – financial investments: fair value gains (68) — — — — — — – exchange differences (62) (41) (171) (50) (5) (63) (55) Purchases 635 894 2,061 — 532 1 — New issuances — — — — 11 3,244 — Sales (366) (229) (717) — (4) (27) — Settlements (159) (253) (613) (1,988) (673) (2,026) (2,425) Transfers out (72) (515) (25) (292) (6) (365) (513) Transfers in 250 520 — 89 72 259 543 At 31 Dec 2021 3,389 2,662 14,238 2,478 785 7,880 3,088 Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at 31 Dec 2021 — (309) 1,509 1,298 — 166 (969) – net income/(losses) from financial instruments held for trading or managed on a fair value basis — (309) — 1,298 — — (969) – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 1,509 — — 166 — Fair values of financial instruments not carried at fair value on the balance sheet At 30 Jun 2022 At 31 Dec 2021 Carrying Fair Carrying Fair $m $m $m $m Assets Loans and advances to banks 96,429 96,445 83,136 83,293 Loans and advances to customers 1,028,356 1,021,944 1,045,814 1,044,575 Reverse repurchase agreements – non-trading 244,451 244,381 241,648 241,652 Financial investments – at amortised cost 154,219 148,456 97,302 102,267 Liabilities Deposits by banks 105,275 105,197 101,152 101,149 Customer accounts 1,651,301 1,651,234 1,710,574 1,710,733 Repurchase agreements – non-trading 129,707 129,705 126,670 126,670 Debt securities in issue 87,944 85,581 78,557 79,243 Subordinated liabilities 20,711 21,683 20,487 26,206 |
Disclosure of fair value measurement of liabilities | Financial instruments carried at fair value and bases of valuation Valuation techniques Quoted Using With significant Total Recurring fair value measurements $m $m $m $m At 30 Jun 2022 Assets Trading assets 148,156 66,218 2,976 217,350 Financial assets designated and otherwise mandatorily measured at fair value through profit or loss 15,558 15,252 15,063 45,873 Derivatives 2,556 258,256 2,111 262,923 Financial investments 191,631 82,237 2,709 276,577 Liabilities Trading liabilities 60,623 19,595 351 80,569 Financial liabilities designated at fair value 1,135 116,406 8,465 126,006 Derivatives 2,758 246,391 2,320 251,469 At 31 Dec 2021 Assets Trading assets 180,423 65,757 2,662 248,842 Financial assets designated and otherwise mandatorily measured at fair value through profit or loss 17,937 17,629 14,238 49,804 Derivatives 2,783 191,621 2,478 196,882 Financial investments 247,745 97,838 3,389 348,972 Liabilities Trading liabilities 63,437 20,682 785 84,904 Financial liabilities designated at fair value 1,379 136,243 7,880 145,502 Derivatives 1,686 186,290 3,088 191,064 Transfers between Level 1 and Level 2 fair values Assets Liabilities Financial investments Trading assets Designated and otherwise mandatorily measured at fair value Derivatives Trading liabilities Designated at fair value Derivatives $m $m $m $m $m $m $m At 30 Jun 2022 Transfers from Level 1 to Level 2 2,407 1,937 538 — 55 — — Transfers from Level 2 to Level 1 4,066 3,488 99 — 203 — — At 31 Dec 2021 Transfers from Level 1 to Level 2 8,477 6,553 1,277 103 181 — 212 Transfers from Level 2 to Level 1 6,007 4,132 768 — 638 — — 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 647 90 14,704 — 15,441 91 — — 91 Asset-backed securities 468 114 29 — 611 — — — — Structured notes — — — — — — 8,465 — 8,465 Derivatives with monolines — — — — — — — — — Other derivatives — — — 2,111 2,111 — — 2,320 2,320 Other portfolios 1,594 2,772 330 — 4,696 260 — — 260 At 30 Jun 2022 2,709 2,976 15,063 2,111 22,859 351 8,465 2,320 11,136 Private equity including strategic investments 544 2 13,732 — 14,278 9 — — 9 Asset-backed securities 1,008 132 1 — 1,141 — — — — Structured notes — — — — — — 7,879 — 7,879 Other derivatives — — — 2,478 2,478 — — 3,088 3,088 Other portfolios 1,837 2,528 505 — 4,870 776 1 — 777 At 31 Dec 2021 3,389 2,662 14,238 2,478 22,767 785 7,880 3,088 11,753 Movement in Level 3 financial instruments Assets Liabilities Financial investments Trading assets Designated and otherwise mandatorily measured at fair value through profit or loss Derivatives Trading liabilities Designated at fair value Derivatives $m $m $m $m $m $m $m At 1 Jan 2022 3,389 2,662 14,238 2,478 785 7,880 3,088 Total gains/(losses) recognised in profit or loss (7) (22) 310 408 (45) (1,103) 165 – net income/(losses) from financial instruments held for trading or managed on a fair value basis — (22) — 408 (45) — 165 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 310 — — (1,103) — – gains less losses from financial investments held at fair value through other comprehensive income (7) — — — — — — Total gains/(losses) recognised in other comprehensive income (‘OCI’) (287) (165) (336) (191) (12) (398) (231) – financial investments: fair value losses (140) — — — — (18) — – exchange differences (147) (165) (336) (191) (12) (380) (231) Purchases 506 1,026 1,707 — 13 — — New issuances — — — — 4 2,511 — Sales (186) (698) (299) — (95) (22) — Settlements (273) (373) (561) (509) (636) (723) (580) Transfers out (501) (287) (36) (290) (7) (549) (437) Transfers in 68 833 40 215 344 869 315 At 30 Jun 2022 2,709 2,976 15,063 2,111 351 8,465 2,320 Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at 30 Jun 2022 — (37) 291 929 1 423 3,494 – net income/(losses) from financial instruments held for trading or managed on a fair value basis — (37) — 929 1 — 3,494 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 291 — — 423 — At 1 Jan 2021 3,654 2,499 11,477 2,670 162 5,306 4,188 Total gains/(losses) recognised in profit or loss 2 (155) 1,038 195 15 (456) 466 – net income/(losses) from financial instruments held for trading or managed on a fair value basis — (155) — 195 15 — 466 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 1,038 — — (456) — – gains less losses from financial investments held at fair value through other comprehensive income 2 — — — — — — Total losses recognised in other comprehensive income (‘OCI’) (391) 23 (114) 23 (3) 2 29 – financial investments: fair value losses (360) — — — — — — – exchange differences (31) 23 (114) 23 (3) 2 29 Purchases 390 1,094 1,631 — 482 — — New issuances — — — — 24 2,725 — Sales (214) (244) (499) — — — — Settlements (177) (494) (436) (359) (8) (896) (1,537) Transfers out (311) (512) (159) (126) (1) (339) (221) Transfers in 290 298 50 274 186 895 496 At 30 Jun 2021 3,243 2,509 12,988 2,677 857 7,237 3,421 Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at 30 Jun 2021 — (99) 885 175 2 106 (4) – net income/(losses) from financial instruments held for trading or managed on a fair value basis — (99) — 175 2 — (4) – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 885 — — 106 — Movement in Level 3 financial instruments (continued) Assets Liabilities Financial investments Trading assets Designated and otherwise mandatorily measured at fair value through Derivatives Trading liabilities Designated Derivatives $m $m $m $m $m $m $m At 1 Jul 2021 3,243 2,509 12,988 2,677 857 7,237 3,421 Total gains recognised in profit or loss (12) (223) 715 2,042 1 (380) 2,117 – net income from financial instruments held for trading or managed on a fair value basis — (223) — 2,042 1 — 2,117 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 715 — — (380) — – gains less losses from financial investments held at fair value through other comprehensive income (12) — — — — — — Total gains recognised in other comprehensive income (‘OCI’) (130) (41) (171) (50) (5) (63) (55) – financial investments: fair value gains (68) — — — — — — – exchange differences (62) (41) (171) (50) (5) (63) (55) Purchases 635 894 2,061 — 532 1 — New issuances — — — — 11 3,244 — Sales (366) (229) (717) — (4) (27) — Settlements (159) (253) (613) (1,988) (673) (2,026) (2,425) Transfers out (72) (515) (25) (292) (6) (365) (513) Transfers in 250 520 — 89 72 259 543 At 31 Dec 2021 3,389 2,662 14,238 2,478 785 7,880 3,088 Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at 31 Dec 2021 — (309) 1,509 1,298 — 166 (969) – net income/(losses) from financial instruments held for trading or managed on a fair value basis — (309) — 1,298 — — (969) – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 1,509 — — 166 — Fair values of financial instruments not carried at fair value on the balance sheet At 30 Jun 2022 At 31 Dec 2021 Carrying Fair Carrying Fair $m $m $m $m Assets Loans and advances to banks 96,429 96,445 83,136 83,293 Loans and advances to customers 1,028,356 1,021,944 1,045,814 1,044,575 Reverse repurchase agreements – non-trading 244,451 244,381 241,648 241,652 Financial investments – at amortised cost 154,219 148,456 97,302 102,267 Liabilities Deposits by banks 105,275 105,197 101,152 101,149 Customer accounts 1,651,301 1,651,234 1,710,574 1,710,733 Repurchase agreements – non-trading 129,707 129,705 126,670 126,670 Debt securities in issue 87,944 85,581 78,557 79,243 Subordinated liabilities 20,711 21,683 20,487 26,206 |
Disclosure of fair value adjustments on financial instruments | Global Banking and Markets fair value adjustments At 30 Jun 2022 At 31 Dec 2021 GBM Corporate Centre GBM Corporate Centre $m $m $m $m Type of adjustment Risk-related 800 28 868 42 – bid-offer 427 — 412 — – uncertainty 78 1 66 1 – credit valuation adjustment 300 21 228 35 – debt valuation adjustment (204) — (92) — – funding fair value adjustment 199 6 254 6 – other — — — — Model-related 61 — 57 — – model limitation 61 — 57 — – other — — — — Inception profit (Day 1 P&L reserves) 1 99 — 106 — Total 960 28 1,031 42 1 See Note 8 on the interim condensed financial statements on page 119. |
Disclosure of the effect of changes in significant unobservable assumptions to reasonably possible alternatives, assets | The following table shows the sensitivity of Level 3 fair values to reasonably possible alternative assumptions: Sensitivity of fair values to reasonably possible alternative assumptions Reflected in profit or loss Reflected in OCI Favourable Unfavourable Favourable Unfavourable $m $m $m $m Derivatives, trading assets and trading liabilities 1 172 (179) — — Financial assets and liabilities designated and otherwise mandatorily measured at fair value through profit or loss 979 (977) — — Financial investments 12 (6) 142 (143) At 30 Jun 2022 1,163 (1,162) 142 (143) Derivatives, trading assets and trading liabilities 1 179 (197) — — Financial assets and liabilities designated and otherwise mandatorily measured at fair value through profit or loss 795 (793) — — Financial investments 24 (24) 105 (104) At 30 Jun 2021 998 (1,014) 105 (104) Derivatives, trading assets and trading liabilities 1 143 (146) — — Financial assets and liabilities designated and otherwise mandatorily measured at fair value through profit or loss 849 (868) — — Financial investments 20 (20) 113 (112) At 31 Dec 2021 1,012 (1,034) 113 (112) 1 ‘Derivatives, trading assets and trading liabilities’ is presented as one category to reflect the manner in which these financial instruments are risk-managed. |
Disclosure of the effect of changes in significant unobservable assumptions to reasonably possible alternatives, liabilities | The following table shows the sensitivity of Level 3 fair values to reasonably possible alternative assumptions: Sensitivity of fair values to reasonably possible alternative assumptions Reflected in profit or loss Reflected in OCI Favourable Unfavourable Favourable Unfavourable $m $m $m $m Derivatives, trading assets and trading liabilities 1 172 (179) — — Financial assets and liabilities designated and otherwise mandatorily measured at fair value through profit or loss 979 (977) — — Financial investments 12 (6) 142 (143) At 30 Jun 2022 1,163 (1,162) 142 (143) Derivatives, trading assets and trading liabilities 1 179 (197) — — Financial assets and liabilities designated and otherwise mandatorily measured at fair value through profit or loss 795 (793) — — Financial investments 24 (24) 105 (104) At 30 Jun 2021 998 (1,014) 105 (104) Derivatives, trading assets and trading liabilities 1 143 (146) — — Financial assets and liabilities designated and otherwise mandatorily measured at fair value through profit or loss 849 (868) — — Financial investments 20 (20) 113 (112) At 31 Dec 2021 1,012 (1,034) 113 (112) 1 ‘Derivatives, trading assets and trading liabilities’ is presented as one category to reflect the manner in which these financial 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 30 June 2022. There has been no change to the key unobservable inputs to Level 3 financial instruments and inter-relationships therein, which are detailed on pages 349 and 350 of the Annual Report and Accounts 2021 . Quantitative information about significant unobservable inputs in Level 3 valuations Fair value Valuation techniques Key unobservable inputs 30 Jun 2022 31 Dec 2021 Assets Liabilities Full range of inputs Full range of inputs $m $m Lower Higher Lower Higher Private equity including strategic investments 15,441 91 See footnote 1 See footnote 1 Asset-backed securities (‘ABS’) 611 — – collateralised loan/debt obligation 25 — Market proxy Prepayment rate — — Market proxy Bid quotes — 98 — 100 – other ABSs 586 — Market proxy Bid quotes — 97 — 100 Loans held for securitisation — — Structured notes — 8,465 – equity-linked notes — 6,648 Model – Option model Equity volatility 6% 95% 6% 124% Model – Option model Equity correlation 30% 98% 22% 99% – Foreign exchange (‘FX’)-linked notes — 994 Model – Option model FX volatility 3% 40% 1% 99% – other — 823 Derivatives with monolines — — Model – Discounted cash flow Credit spread — — — — Other derivatives 2,111 2,320 – interest rate derivatives 448 588 securitisation swaps 260 367 Model – Discounted cash flow Prepayment rate 5% 10% 5% 10% long-dated swaptions 31 50 Model – Option model Interest rate volatility 10% 42% 15% 35% other 157 171 – FX derivatives 291 354 FX options 112 193 Model – Option model FX volatility 1% 40% 1% 99% other 179 161 – equity derivatives 1,232 1,154 long-dated single stock options 537 703 Model – Option model Equity volatility 6% 124% 4% 138% other 695 451 – credit derivatives 140 224 other 140 224 Other portfolios 4,696 260 – repurchase agreements 993 232 Model – Discounted cash flow Interest rate curve 1% 5% 1% 5% – other 2 3,703 28 At 30 Jun 2022 22,859 11,136 1 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 . 2 ’Other’ includes a range of smaller 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 30 June 2022. There has been no change to the key unobservable inputs to Level 3 financial instruments and inter-relationships therein, which are detailed on pages 349 and 350 of the Annual Report and Accounts 2021 . Quantitative information about significant unobservable inputs in Level 3 valuations Fair value Valuation techniques Key unobservable inputs 30 Jun 2022 31 Dec 2021 Assets Liabilities Full range of inputs Full range of inputs $m $m Lower Higher Lower Higher Private equity including strategic investments 15,441 91 See footnote 1 See footnote 1 Asset-backed securities (‘ABS’) 611 — – collateralised loan/debt obligation 25 — Market proxy Prepayment rate — — Market proxy Bid quotes — 98 — 100 – other ABSs 586 — Market proxy Bid quotes — 97 — 100 Loans held for securitisation — — Structured notes — 8,465 – equity-linked notes — 6,648 Model – Option model Equity volatility 6% 95% 6% 124% Model – Option model Equity correlation 30% 98% 22% 99% – Foreign exchange (‘FX’)-linked notes — 994 Model – Option model FX volatility 3% 40% 1% 99% – other — 823 Derivatives with monolines — — Model – Discounted cash flow Credit spread — — — — Other derivatives 2,111 2,320 – interest rate derivatives 448 588 securitisation swaps 260 367 Model – Discounted cash flow Prepayment rate 5% 10% 5% 10% long-dated swaptions 31 50 Model – Option model Interest rate volatility 10% 42% 15% 35% other 157 171 – FX derivatives 291 354 FX options 112 193 Model – Option model FX volatility 1% 40% 1% 99% other 179 161 – equity derivatives 1,232 1,154 long-dated single stock options 537 703 Model – Option model Equity volatility 6% 124% 4% 138% other 695 451 – credit derivatives 140 224 other 140 224 Other portfolios 4,696 260 – repurchase agreements 993 232 Model – Discounted cash flow Interest rate curve 1% 5% 1% 5% – other 2 3,703 28 At 30 Jun 2022 22,859 11,136 1 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 . 2 ’Other’ includes a range of smaller holdings. |
Fair values of financial inst_4
Fair values of financial instruments not carried at fair value (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
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 Valuation techniques Quoted Using With significant Total Recurring fair value measurements $m $m $m $m At 30 Jun 2022 Assets Trading assets 148,156 66,218 2,976 217,350 Financial assets designated and otherwise mandatorily measured at fair value through profit or loss 15,558 15,252 15,063 45,873 Derivatives 2,556 258,256 2,111 262,923 Financial investments 191,631 82,237 2,709 276,577 Liabilities Trading liabilities 60,623 19,595 351 80,569 Financial liabilities designated at fair value 1,135 116,406 8,465 126,006 Derivatives 2,758 246,391 2,320 251,469 At 31 Dec 2021 Assets Trading assets 180,423 65,757 2,662 248,842 Financial assets designated and otherwise mandatorily measured at fair value through profit or loss 17,937 17,629 14,238 49,804 Derivatives 2,783 191,621 2,478 196,882 Financial investments 247,745 97,838 3,389 348,972 Liabilities Trading liabilities 63,437 20,682 785 84,904 Financial liabilities designated at fair value 1,379 136,243 7,880 145,502 Derivatives 1,686 186,290 3,088 191,064 Transfers between Level 1 and Level 2 fair values Assets Liabilities Financial investments Trading assets Designated and otherwise mandatorily measured at fair value Derivatives Trading liabilities Designated at fair value Derivatives $m $m $m $m $m $m $m At 30 Jun 2022 Transfers from Level 1 to Level 2 2,407 1,937 538 — 55 — — Transfers from Level 2 to Level 1 4,066 3,488 99 — 203 — — At 31 Dec 2021 Transfers from Level 1 to Level 2 8,477 6,553 1,277 103 181 — 212 Transfers from Level 2 to Level 1 6,007 4,132 768 — 638 — — 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 647 90 14,704 — 15,441 91 — — 91 Asset-backed securities 468 114 29 — 611 — — — — Structured notes — — — — — — 8,465 — 8,465 Derivatives with monolines — — — — — — — — — Other derivatives — — — 2,111 2,111 — — 2,320 2,320 Other portfolios 1,594 2,772 330 — 4,696 260 — — 260 At 30 Jun 2022 2,709 2,976 15,063 2,111 22,859 351 8,465 2,320 11,136 Private equity including strategic investments 544 2 13,732 — 14,278 9 — — 9 Asset-backed securities 1,008 132 1 — 1,141 — — — — Structured notes — — — — — — 7,879 — 7,879 Other derivatives — — — 2,478 2,478 — — 3,088 3,088 Other portfolios 1,837 2,528 505 — 4,870 776 1 — 777 At 31 Dec 2021 3,389 2,662 14,238 2,478 22,767 785 7,880 3,088 11,753 Movement in Level 3 financial instruments Assets Liabilities Financial investments Trading assets Designated and otherwise mandatorily measured at fair value through profit or loss Derivatives Trading liabilities Designated at fair value Derivatives $m $m $m $m $m $m $m At 1 Jan 2022 3,389 2,662 14,238 2,478 785 7,880 3,088 Total gains/(losses) recognised in profit or loss (7) (22) 310 408 (45) (1,103) 165 – net income/(losses) from financial instruments held for trading or managed on a fair value basis — (22) — 408 (45) — 165 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 310 — — (1,103) — – gains less losses from financial investments held at fair value through other comprehensive income (7) — — — — — — Total gains/(losses) recognised in other comprehensive income (‘OCI’) (287) (165) (336) (191) (12) (398) (231) – financial investments: fair value losses (140) — — — — (18) — – exchange differences (147) (165) (336) (191) (12) (380) (231) Purchases 506 1,026 1,707 — 13 — — New issuances — — — — 4 2,511 — Sales (186) (698) (299) — (95) (22) — Settlements (273) (373) (561) (509) (636) (723) (580) Transfers out (501) (287) (36) (290) (7) (549) (437) Transfers in 68 833 40 215 344 869 315 At 30 Jun 2022 2,709 2,976 15,063 2,111 351 8,465 2,320 Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at 30 Jun 2022 — (37) 291 929 1 423 3,494 – net income/(losses) from financial instruments held for trading or managed on a fair value basis — (37) — 929 1 — 3,494 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 291 — — 423 — At 1 Jan 2021 3,654 2,499 11,477 2,670 162 5,306 4,188 Total gains/(losses) recognised in profit or loss 2 (155) 1,038 195 15 (456) 466 – net income/(losses) from financial instruments held for trading or managed on a fair value basis — (155) — 195 15 — 466 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 1,038 — — (456) — – gains less losses from financial investments held at fair value through other comprehensive income 2 — — — — — — Total losses recognised in other comprehensive income (‘OCI’) (391) 23 (114) 23 (3) 2 29 – financial investments: fair value losses (360) — — — — — — – exchange differences (31) 23 (114) 23 (3) 2 29 Purchases 390 1,094 1,631 — 482 — — New issuances — — — — 24 2,725 — Sales (214) (244) (499) — — — — Settlements (177) (494) (436) (359) (8) (896) (1,537) Transfers out (311) (512) (159) (126) (1) (339) (221) Transfers in 290 298 50 274 186 895 496 At 30 Jun 2021 3,243 2,509 12,988 2,677 857 7,237 3,421 Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at 30 Jun 2021 — (99) 885 175 2 106 (4) – net income/(losses) from financial instruments held for trading or managed on a fair value basis — (99) — 175 2 — (4) – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 885 — — 106 — Movement in Level 3 financial instruments (continued) Assets Liabilities Financial investments Trading assets Designated and otherwise mandatorily measured at fair value through Derivatives Trading liabilities Designated Derivatives $m $m $m $m $m $m $m At 1 Jul 2021 3,243 2,509 12,988 2,677 857 7,237 3,421 Total gains recognised in profit or loss (12) (223) 715 2,042 1 (380) 2,117 – net income from financial instruments held for trading or managed on a fair value basis — (223) — 2,042 1 — 2,117 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 715 — — (380) — – gains less losses from financial investments held at fair value through other comprehensive income (12) — — — — — — Total gains recognised in other comprehensive income (‘OCI’) (130) (41) (171) (50) (5) (63) (55) – financial investments: fair value gains (68) — — — — — — – exchange differences (62) (41) (171) (50) (5) (63) (55) Purchases 635 894 2,061 — 532 1 — New issuances — — — — 11 3,244 — Sales (366) (229) (717) — (4) (27) — Settlements (159) (253) (613) (1,988) (673) (2,026) (2,425) Transfers out (72) (515) (25) (292) (6) (365) (513) Transfers in 250 520 — 89 72 259 543 At 31 Dec 2021 3,389 2,662 14,238 2,478 785 7,880 3,088 Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at 31 Dec 2021 — (309) 1,509 1,298 — 166 (969) – net income/(losses) from financial instruments held for trading or managed on a fair value basis — (309) — 1,298 — — (969) – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 1,509 — — 166 — Fair values of financial instruments not carried at fair value on the balance sheet At 30 Jun 2022 At 31 Dec 2021 Carrying Fair Carrying Fair $m $m $m $m Assets Loans and advances to banks 96,429 96,445 83,136 83,293 Loans and advances to customers 1,028,356 1,021,944 1,045,814 1,044,575 Reverse repurchase agreements – non-trading 244,451 244,381 241,648 241,652 Financial investments – at amortised cost 154,219 148,456 97,302 102,267 Liabilities Deposits by banks 105,275 105,197 101,152 101,149 Customer accounts 1,651,301 1,651,234 1,710,574 1,710,733 Repurchase agreements – non-trading 129,707 129,705 126,670 126,670 Debt securities in issue 87,944 85,581 78,557 79,243 Subordinated liabilities 20,711 21,683 20,487 26,206 |
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 Valuation techniques Quoted Using With significant Total Recurring fair value measurements $m $m $m $m At 30 Jun 2022 Assets Trading assets 148,156 66,218 2,976 217,350 Financial assets designated and otherwise mandatorily measured at fair value through profit or loss 15,558 15,252 15,063 45,873 Derivatives 2,556 258,256 2,111 262,923 Financial investments 191,631 82,237 2,709 276,577 Liabilities Trading liabilities 60,623 19,595 351 80,569 Financial liabilities designated at fair value 1,135 116,406 8,465 126,006 Derivatives 2,758 246,391 2,320 251,469 At 31 Dec 2021 Assets Trading assets 180,423 65,757 2,662 248,842 Financial assets designated and otherwise mandatorily measured at fair value through profit or loss 17,937 17,629 14,238 49,804 Derivatives 2,783 191,621 2,478 196,882 Financial investments 247,745 97,838 3,389 348,972 Liabilities Trading liabilities 63,437 20,682 785 84,904 Financial liabilities designated at fair value 1,379 136,243 7,880 145,502 Derivatives 1,686 186,290 3,088 191,064 Transfers between Level 1 and Level 2 fair values Assets Liabilities Financial investments Trading assets Designated and otherwise mandatorily measured at fair value Derivatives Trading liabilities Designated at fair value Derivatives $m $m $m $m $m $m $m At 30 Jun 2022 Transfers from Level 1 to Level 2 2,407 1,937 538 — 55 — — Transfers from Level 2 to Level 1 4,066 3,488 99 — 203 — — At 31 Dec 2021 Transfers from Level 1 to Level 2 8,477 6,553 1,277 103 181 — 212 Transfers from Level 2 to Level 1 6,007 4,132 768 — 638 — — 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 647 90 14,704 — 15,441 91 — — 91 Asset-backed securities 468 114 29 — 611 — — — — Structured notes — — — — — — 8,465 — 8,465 Derivatives with monolines — — — — — — — — — Other derivatives — — — 2,111 2,111 — — 2,320 2,320 Other portfolios 1,594 2,772 330 — 4,696 260 — — 260 At 30 Jun 2022 2,709 2,976 15,063 2,111 22,859 351 8,465 2,320 11,136 Private equity including strategic investments 544 2 13,732 — 14,278 9 — — 9 Asset-backed securities 1,008 132 1 — 1,141 — — — — Structured notes — — — — — — 7,879 — 7,879 Other derivatives — — — 2,478 2,478 — — 3,088 3,088 Other portfolios 1,837 2,528 505 — 4,870 776 1 — 777 At 31 Dec 2021 3,389 2,662 14,238 2,478 22,767 785 7,880 3,088 11,753 Movement in Level 3 financial instruments Assets Liabilities Financial investments Trading assets Designated and otherwise mandatorily measured at fair value through profit or loss Derivatives Trading liabilities Designated at fair value Derivatives $m $m $m $m $m $m $m At 1 Jan 2022 3,389 2,662 14,238 2,478 785 7,880 3,088 Total gains/(losses) recognised in profit or loss (7) (22) 310 408 (45) (1,103) 165 – net income/(losses) from financial instruments held for trading or managed on a fair value basis — (22) — 408 (45) — 165 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 310 — — (1,103) — – gains less losses from financial investments held at fair value through other comprehensive income (7) — — — — — — Total gains/(losses) recognised in other comprehensive income (‘OCI’) (287) (165) (336) (191) (12) (398) (231) – financial investments: fair value losses (140) — — — — (18) — – exchange differences (147) (165) (336) (191) (12) (380) (231) Purchases 506 1,026 1,707 — 13 — — New issuances — — — — 4 2,511 — Sales (186) (698) (299) — (95) (22) — Settlements (273) (373) (561) (509) (636) (723) (580) Transfers out (501) (287) (36) (290) (7) (549) (437) Transfers in 68 833 40 215 344 869 315 At 30 Jun 2022 2,709 2,976 15,063 2,111 351 8,465 2,320 Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at 30 Jun 2022 — (37) 291 929 1 423 3,494 – net income/(losses) from financial instruments held for trading or managed on a fair value basis — (37) — 929 1 — 3,494 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 291 — — 423 — At 1 Jan 2021 3,654 2,499 11,477 2,670 162 5,306 4,188 Total gains/(losses) recognised in profit or loss 2 (155) 1,038 195 15 (456) 466 – net income/(losses) from financial instruments held for trading or managed on a fair value basis — (155) — 195 15 — 466 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 1,038 — — (456) — – gains less losses from financial investments held at fair value through other comprehensive income 2 — — — — — — Total losses recognised in other comprehensive income (‘OCI’) (391) 23 (114) 23 (3) 2 29 – financial investments: fair value losses (360) — — — — — — – exchange differences (31) 23 (114) 23 (3) 2 29 Purchases 390 1,094 1,631 — 482 — — New issuances — — — — 24 2,725 — Sales (214) (244) (499) — — — — Settlements (177) (494) (436) (359) (8) (896) (1,537) Transfers out (311) (512) (159) (126) (1) (339) (221) Transfers in 290 298 50 274 186 895 496 At 30 Jun 2021 3,243 2,509 12,988 2,677 857 7,237 3,421 Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at 30 Jun 2021 — (99) 885 175 2 106 (4) – net income/(losses) from financial instruments held for trading or managed on a fair value basis — (99) — 175 2 — (4) – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 885 — — 106 — Movement in Level 3 financial instruments (continued) Assets Liabilities Financial investments Trading assets Designated and otherwise mandatorily measured at fair value through Derivatives Trading liabilities Designated Derivatives $m $m $m $m $m $m $m At 1 Jul 2021 3,243 2,509 12,988 2,677 857 7,237 3,421 Total gains recognised in profit or loss (12) (223) 715 2,042 1 (380) 2,117 – net income from financial instruments held for trading or managed on a fair value basis — (223) — 2,042 1 — 2,117 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 715 — — (380) — – gains less losses from financial investments held at fair value through other comprehensive income (12) — — — — — — Total gains recognised in other comprehensive income (‘OCI’) (130) (41) (171) (50) (5) (63) (55) – financial investments: fair value gains (68) — — — — — — – exchange differences (62) (41) (171) (50) (5) (63) (55) Purchases 635 894 2,061 — 532 1 — New issuances — — — — 11 3,244 — Sales (366) (229) (717) — (4) (27) — Settlements (159) (253) (613) (1,988) (673) (2,026) (2,425) Transfers out (72) (515) (25) (292) (6) (365) (513) Transfers in 250 520 — 89 72 259 543 At 31 Dec 2021 3,389 2,662 14,238 2,478 785 7,880 3,088 Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at 31 Dec 2021 — (309) 1,509 1,298 — 166 (969) – net income/(losses) from financial instruments held for trading or managed on a fair value basis — (309) — 1,298 — — (969) – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 1,509 — — 166 — Fair values of financial instruments not carried at fair value on the balance sheet At 30 Jun 2022 At 31 Dec 2021 Carrying Fair Carrying Fair $m $m $m $m Assets Loans and advances to banks 96,429 96,445 83,136 83,293 Loans and advances to customers 1,028,356 1,021,944 1,045,814 1,044,575 Reverse repurchase agreements – non-trading 244,451 244,381 241,648 241,652 Financial investments – at amortised cost 154,219 148,456 97,302 102,267 Liabilities Deposits by banks 105,275 105,197 101,152 101,149 Customer accounts 1,651,301 1,651,234 1,710,574 1,710,733 Repurchase agreements – non-trading 129,707 129,705 126,670 126,670 Debt securities in issue 87,944 85,581 78,557 79,243 Subordinated liabilities 20,711 21,683 20,487 26,206 |
Derivatives (Tables)
Derivatives (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
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 amount Assets and liabilities Assets Liabilities Trading Hedging Trading Hedging Total Trading Hedging Total $m $m $m $m $m $m $m $m Foreign exchange 8,856,919 38,611 127,897 2,187 130,084 122,431 247 122,678 Interest rate 15,558,726 237,907 220,316 3,620 223,936 220,007 1,181 221,188 Equities 573,332 — 11,919 — 11,919 10,843 — 10,843 Credit 199,195 — 3,255 — 3,255 3,321 — 3,321 Commodity and other 102,053 — 1,815 — 1,815 1,525 — 1,525 Gross total fair values 25,290,225 276,518 365,202 5,807 371,009 358,127 1,428 359,555 Offset (108,086) (108,086) At 30 Jun 2022 25,290,225 276,518 365,202 5,807 262,923 358,127 1,428 251,469 Foreign exchange 7,723,034 43,839 79,801 1,062 80,863 77,670 207 77,877 Interest rate 14,470,539 162,921 151,631 1,749 153,380 146,808 966 147,774 Equities 659,142 — 12,637 — 12,637 14,379 — 14,379 Credit 190,724 — 2,175 — 2,175 3,151 — 3,151 Commodity and other 74,159 — 1,205 — 1,205 1,261 — 1,261 Gross total fair values 23,117,598 206,760 247,449 2,811 250,260 243,269 1,173 244,442 Offset (53,378) (53,378) At 31 Dec 2021 23,117,598 206,760 247,449 2,811 196,882 243,269 1,173 191,064 Notional contract amounts of derivatives held for hedging purposes by product type At 30 Jun 2022 At 31 Dec 2021 Cash flow Fair value Cash flow Fair value $m $m $m $m Foreign exchange 12,150 4 17,930 4 Interest rate 100,673 137,234 72,365 90,556 Total 112,823 137,238 90,295 90,560 Hedging instrument impacted by Ibor reform Hedging instrument Impacted by Ibor reform Not impacted by Ibor reform Notional amount 3 € 1 £ $ Other 2 Total $m $m $m $m $m $m $m Fair value hedges 9,094 — 7,903 10,461 27,458 109,776 137,234 Cash flow hedges 6,342 — 100 21,058 27,500 73,173 100,673 At 30 Jun 2022 15,436 — 8,003 31,519 54,958 182,949 237,907 Fair value hedges 6,178 — 18,525 6,615 31,318 59,238 90,556 Cash flow hedges 7,954 — 100 8,632 16,686 55,679 72,365 At 31 Dec 2021 14,132 — 18,625 15,247 48,004 114,917 162,921 1 The notional contract amounts of euro interest rate derivatives impacted by Ibor reform mainly comprise hedges with a Euribor benchmark, which are ‘Fair value hedges’ of $9,094m (31 December 2021: $6,178m) and ‘Cash flow hedges’ of $6,342m (31 December 2021: $7,954m). 2 Other benchmarks impacted by Ibor reform comprise mainly of Canadian dollar offered rate (‘CDOR’), Hong Kong interbank offered rate (‘HIBOR’) and Mexican interbank equilibrium interest rate (‘TIIE’) related derivatives. 3 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. |
Disclosure of detailed information about financial instruments | Summary of financial instruments to which the impairment requirements in IFRS 9 are applied At 30 Jun 2022 At 31 Dec 2021 Gross carrying/ Allowance for ECL 1 Gross carrying/ Allowance for ECL 1 $m $m $m $m Loans and advances to customers at amortised cost 1,039,130 (10,774) 1,057,231 (11,417) – personal 463,621 (2,918) 478,337 (3,103) – corporate and commercial 509,566 (7,684) 513,539 (8,204) – non-bank financial institutions 65,943 (172) 65,355 (110) Loans and advances to banks at amortised cost 96,481 (52) 83,153 (17) Other financial assets measured at amortised cost 950,007 (281) 880,351 (193) – cash and balances at central banks 363,613 (5) 403,022 (4) – items in the course of collection from other banks 8,073 — 4,136 — – Hong Kong Government certificates of indebtedness 43,866 — 42,578 — – reverse repurchase agreements – non-trading 244,451 — 241,648 — – financial investments 154,294 (75) 97,364 (62) – prepayments, accrued income and other assets 2 135,710 (201) 91,603 (127) Total gross carrying amount on-balance sheet 2,085,618 (11,107) 2,020,735 (11,627) Loans and other credit-related commitments 633,091 (337) 627,637 (379) – personal 237,077 (30) 239,685 (39) – corporate and commercial 263,452 (291) 283,625 (325) – financial 132,562 (16) 104,327 (15) Financial guarantees 17,586 (42) 27,795 (62) – personal 1,120 — 1,130 — – corporate and commercial 12,393 (41) 22,355 (58) – financial 4,073 (1) 4,310 (4) Total nominal amount off-balance sheet 3 650,677 (379) 655,432 (441) 2,736,295 (11,486) 2,676,167 (12,068) Fair Memorandum allowance for ECL 4 Fair Memorandum allowance for ECL 4 $m $m $m $m Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) 274,765 (120) 347,203 (96) 1 Total ECL is recognised in the loss allowance for the financial asset unless 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 104, includes both financial and non-financial assets. The 30 June 2022 balances include $1,918m gross carrying amounts (31 December 2021: $2,424m) and $133m allowances for ECL (31 December 2021: $39m) related to assets held for sale under business disposals as disclosed in Note 15 ‘Business acquisitions and disposals’ on page 127. 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 for expected credit losses and other credit impairment charges’ in the income statement. The following table shows the difference between the fair value at initial recognition, which is 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. Unamortised balance of derivatives valued using models with significant unobservable inputs Half-year to 30 Jun 30 Jun 31 Dec 2022 2021 2021 $m $m $m Unamortised balance at beginning of period 106 104 120 Deferral on new transactions 100 187 124 Recognised in the income statement during the period (99) (172) (136) – amortisation (61) (89) (88) – subsequent to unobservable inputs becoming observable — (3) (1) – maturity, termination or offsetting derivative (38) (80) (47) Exchange differences (8) 1 (2) Unamortised balance at end of period 1 99 120 106 1 This amount is yet to be recognised in the consolidated income statement. |
Financial investments (Tables)
Financial investments (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Financial Instruments [Abstract] | |
Schedules of financial investments | Carrying amounts of financial investments 30 Jun 31 Dec 2022 2021 $m $m Financial investments measured at fair value through other comprehensive income 276,577 348,972 – treasury and other eligible bills 59,602 100,158 – debt securities 215,163 246,998 – equity securities 1,812 1,770 – other instruments — 46 Debt instruments measured at amortised cost 154,219 97,302 – treasury and other eligible bills 55,392 21,634 – debt securities 98,827 75,668 At the end of the period 430,796 446,274 |
Interests in associates and j_2
Interests in associates and joint ventures (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Interests In Other Entities [Abstract] | |
Disclosure of interests in associates | Principal associates of HSBC At 30 Jun 2022 At 31 Dec 2021 Carrying amount Fair value 1 Carrying amount Fair value 1 $m $m $m $m Bank of Communications Co., Limited 23,559 9,764 23,616 8,537 The Saudi British Bank 4,472 6,910 4,426 5,599 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 30 Jun 2022 At 31 Dec 2021 VIU Carrying value Fair value VIU Carrying value Fair value $bn $bn $bn $bn $bn $bn BoCom 24.3 23.6 9.8 24.8 23.6 8.5 |
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 17 basis points • Long-term asset growth rate Increase by 15 basis points • Discount rate Increase by 23 basis points • Expected credit losses as a percentage of customer advances Increase by 2 basis points • Risk-weighted assets as a percentage of total assets Increase by 122 basis points • Operating income growth rate Decrease by 31 basis points • Cost-income ratio Increase by 70 basis points • Long-term effective tax rate Increase by 203 basis points • Capital requirements – capital adequacy ratio Increase by 25 basis points • Capital requirements – tier 1 capital adequacy ratio Increase by 169 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 based on external analysts’ forecasts, statutory requirements and other relevant external data sources, which can change period to period. Sensitivity of VIU to reasonably possible changes in key assumptions Favourable change Unfavourable change Increase in VIU VIU Decrease in VIU VIU bps $bn $bn bps $bn $bn At 30 Jun 2022 Long-term asset/profit growth rate 1 (75) / 82 3.3 / 4.0 27.6 / 28.3 82 / (75) (4.5) / (2.9) 19.8 / 21.4 Discount rate (183) 8.0 32.3 207 (5.2) 19.1 Expected credit losses as a percentage of customer advances 2022 to 2025: 103 2026 onwards: 91 1.6 25.9 2022 to 2025: 123 2026 onwards: 105 (2.8) 21.5 Risk-weighted assets as a percentage of total assets (110) 0.1 24.4 247 (2.1) 22.2 Operating income growth rate 51 1.2 25.5 (69) (1.7) 22.6 Cost-income ratio (113) 1.1 25.4 188 (2.0) 22.3 Long-term effective tax rate (426) 1.5 25.8 1,000 (3.6) 20.7 Capital requirements – capital adequacy ratio — — 24.3 274 (8.8) 15.5 Capital requirements – tier 1 capital adequacy ratio — — 24.3 304 (5.2) 19.1 At 31 Dec 2021 Long-term asset/profit growth rate 1 (69) / 87 2.9 / 4.2 27.7 / 29.0 87 / (69) (4.7) / (2.7) 20.1 / 22.1 Discount rate (133) 5.4 30.2 207 (5.3) 19.5 Expected credit losses as a percentage of customer advances 2021 to 2025: 103 2026 onwards: 91 1.5 26.3 2021 to 2025: 121 2026 onwards: 105 (2.7) 22.1 Risk-weighted assets as a percentage of total assets (111) 0.2 25.0 280 (2.1) 22.7 Operating income growth rate 37 1.0 25.8 (58) (1.8) 23.0 Cost-income ratio (152) 1.7 26.5 174 (1.7) 23.1 Long-term effective tax rate (104) 0.3 25.1 1,000 (3.6) 21.2 Capital requirements – capital adequacy ratio — — 24.8 325 (10.0) 14.8 Capital requirements – tier 1 capital adequacy ratio — — 24.8 364 (6.5) 18.3 1 The reasonably possible ranges of the long-term profit growth rate and long-term asset growth rate assumptions reflect the close relationship between these assumptions, which would result in offsetting changes to each assumption. |
Provisions (Tables)
Provisions (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
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 31 Dec 2021 383 619 386 558 1,946 Additions 105 110 34 104 353 Amounts utilised (147) (275) (49) (132) (603) Unused amounts reversed (41) (74) (38) (66) (219) Exchange and other movements 12 (10) (34) (55) (87) At 30 Jun 2022 312 370 299 409 1,390 Contractual commitments 1 At 31 Dec 2021 620 Net change in expected credit loss provision and other movements (110) At 30 Jun 2022 510 Total provisions At 31 Dec 2021 2,566 At 30 Jun 2022 1,900 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. |
Contingent liabilities, contr_2
Contingent liabilities, contractual commitments, and guarantees (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Other Provisions, Contingent Liabilities And Contingent Assets [Abstract] | |
Summary of contingent liabilities, contractual commitments and guarantees | At 30 Jun 31 Dec 2022 2021 $m $m Guarantees and contingent liabilities: – financial guarantees 17,586 27,795 – performance and other guarantees 84,103 85,534 – other contingent liabilities 816 858 At the end of the period 102,505 114,187 Commitments: 1 – documentary credits and short-term trade-related transactions 9,972 8,827 – forward asset purchases and forward deposits placed 76,144 47,184 – standby facilities, credit lines and other commitments to lend 740,313 759,463 At the end of the period 826,429 815,474 1 Includes $633,091m of commitments at 30 June 2022 (31 December 2021: $627,637m), to which the impairment requirements in IFRS 9 are applied where HSBC has become party to an irrevocable commitment. |
Report of the directors finan_2
Report of the directors financial review risk report (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
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 At 30 Jun 2022 At 31 Dec 2021 Gross carrying/ Allowance for ECL 1 Gross carrying/ Allowance for ECL 1 $m $m $m $m Loans and advances to customers at amortised cost 1,039,130 (10,774) 1,057,231 (11,417) – personal 463,621 (2,918) 478,337 (3,103) – corporate and commercial 509,566 (7,684) 513,539 (8,204) – non-bank financial institutions 65,943 (172) 65,355 (110) Loans and advances to banks at amortised cost 96,481 (52) 83,153 (17) Other financial assets measured at amortised cost 950,007 (281) 880,351 (193) – cash and balances at central banks 363,613 (5) 403,022 (4) – items in the course of collection from other banks 8,073 — 4,136 — – Hong Kong Government certificates of indebtedness 43,866 — 42,578 — – reverse repurchase agreements – non-trading 244,451 — 241,648 — – financial investments 154,294 (75) 97,364 (62) – prepayments, accrued income and other assets 2 135,710 (201) 91,603 (127) Total gross carrying amount on-balance sheet 2,085,618 (11,107) 2,020,735 (11,627) Loans and other credit-related commitments 633,091 (337) 627,637 (379) – personal 237,077 (30) 239,685 (39) – corporate and commercial 263,452 (291) 283,625 (325) – financial 132,562 (16) 104,327 (15) Financial guarantees 17,586 (42) 27,795 (62) – personal 1,120 — 1,130 — – corporate and commercial 12,393 (41) 22,355 (58) – financial 4,073 (1) 4,310 (4) Total nominal amount off-balance sheet 3 650,677 (379) 655,432 (441) 2,736,295 (11,486) 2,676,167 (12,068) Fair Memorandum allowance for ECL 4 Fair Memorandum allowance for ECL 4 $m $m $m $m Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) 274,765 (120) 347,203 (96) 1 Total ECL is recognised in the loss allowance for the financial asset unless 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 104, includes both financial and non-financial assets. The 30 June 2022 balances include $1,918m gross carrying amounts (31 December 2021: $2,424m) and $133m allowances for ECL (31 December 2021: $39m) related to assets held for sale under business disposals as disclosed in Note 15 ‘Business acquisitions and disposals’ on page 127. 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 for expected credit losses and other credit impairment charges’ in the income statement. The following table shows the difference between the fair value at initial recognition, which is 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. Unamortised balance of derivatives valued using models with significant unobservable inputs Half-year to 30 Jun 30 Jun 31 Dec 2022 2021 2021 $m $m $m Unamortised balance at beginning of period 106 104 120 Deferral on new transactions 100 187 124 Recognised in the income statement during the period (99) (172) (136) – amortisation (61) (89) (88) – subsequent to unobservable inputs becoming observable — (3) (1) – maturity, termination or offsetting derivative (38) (80) (47) Exchange differences (8) 1 (2) Unamortised balance at end of period 1 99 120 106 1 This amount is yet to be recognised in the consolidated income statement. |
Disclosure of macroeconomic variables and probabilities | The following table describes key macroeconomic variables and the probabilities assigned in the consensus Central scenario. Central scenario 3Q22–2Q27 UK US Hong Kong Mainland China Canada France UAE Mexico % % % % % % % % GDP growth rate 2022: Annual average growth rate 3.7 2.8 1.1 4.5 4.0 2.9 5.3 1.8 2023: Annual average growth rate 1.4 2.0 3.8 5.1 2.6 1.8 4.3 2.1 2024: Annual average growth rate 1.6 1.9 2.5 5.0 1.8 1.6 3.2 2.2 5-year average 1.6 1.9 2.9 4.9 2.2 1.5 3.3 2.2 Unemployment rate 2022: Annual average rate 4.0 3.6 4.4 3.8 5.5 7.5 3.0 3.8 2023: Annual average rate 4.2 3.6 3.6 3.7 5.4 7.4 2.7 3.8 2024: Annual average rate 4.1 3.6 3.5 3.7 5.6 7.3 2.6 3.8 5-year average 4.1 3.6 3.5 3.7 5.5 7.3 2.6 3.7 House price growth 2022: Annual average growth rate 9.2 14.7 (1.2) (0.5) 18.9 5.8 9.4 7.2 2023: Annual average growth rate 2.9 6.4 1.2 1.3 (2.2) 4.5 3.4 5.3 2024: Annual average growth rate 2.9 4.5 2.5 3.5 (0.5) 4.1 2.5 4.8 5-year average 3.3 5.3 1.9 3.2 2.6 3.9 3.5 4.8 Inflation rate 2022: Annual average rate 8.3 7.0 2.3 2.2 5.4 4.5 3.2 6.8 2023: Annual average rate 4.7 3.2 2.2 2.3 2.8 2.4 2.3 4.5 2024: Annual average rate 2.1 2.2 2.2 2.3 2.3 2.0 2.2 4.0 5-year average 3.2 2.8 2.2 2.4 2.5 2.3 2.2 4.0 Probability 50 60 55 55 60 40 65 60 The following table describes key macroeconomic variables and the probabilities assigned in the consensus Upside scenario. Consensus Upside scenario ‘best outcome’ UK US Hong Kong Mainland China Canada France UAE Mexico % % % % % % % % GDP growth rate 4.3 (2Q24) 4.7 (1Q23) 12.4 (1Q23) 10.2 (2Q23) 5.9 (2Q23) 3.4 (2Q23) 13.4 (2Q23) 5.8 (2Q23) Unemployment rate 3.2 (2Q24) 3.1 (3Q22) 2.8 (4Q23) 3.5 (1Q23) 4.4 (1Q23) 6.4 (2Q24) 1.9 (4Q23) 3.2 (3Q23) House price growth 9.8 (3Q22) 13.2 (3Q22) 7.7 (2Q23) 6.2 (2Q23) 18.2 (3Q22) 6.1 (3Q23) 15.4 (2Q23) 9.3 (3Q23) Inflation rate 10.2 (3Q22) 7.8 (3Q22) 4.1 (3Q23) 5.8 (1Q23) 6.8 (4Q22) 6.7 (4Q22) 4.0 (4Q23) 7.6 (3Q23) Probability 10 5 5 5 5 10 5 5 Note: Extreme point in the consensus Upside is ‘best outcome’ in the scenario, for example the highest GDP growth and the lowest unemployment rate, in the first two years of the scenario. Inflation is positively correlated with GDP in the Upside scenario, and the ‘best outcome’ also refers to the cyclical high point. The following table describes key macroeconomic variables and the probabilities assigned in the consensus Downside scenario. Consensus Downside scenario ‘worst outcome’ UK US Hong Kong Mainland China Canada France UAE Mexico % % % % % % % % GDP growth rate (0.7) (2Q23) (1.7) (2Q23) (2.9) (4Q23) 1.3 (1Q23) (0.8) (2Q23) 0.1 (2Q23) (0.6) (2Q23) (1.0) (2Q23) Unemployment rate 5.5 (2Q23) 5.1 (1Q23) 5.4 (4Q22) 4.2 (1Q23) 6.6 (2Q24) 8.5 (1Q23) 4.0 (1Q23) 4.7 (1Q23) House price growth (4.1) (3Q23) 2.9 (1Q24) (8.3) (3Q23) (4.3) (2Q23) (9.0) (2Q23) 2.4 (2Q23) (4.8) (4Q23) 2.2 (3Q23) Inflation rate 0.7 (2Q24) 0.7 (2Q23) (0.5) (3Q23) (0.7) (3Q23) 0.0 (2Q23) (0.6) (2Q23) 0.4 (4Q23) 2.3 (3Q23) Probability 0 15 20 30 15 0 20 10 Note: Extreme point in the consensus Downside is ‘worst outcome’ in the scenario, for example the lowest GDP growth and the highest unemployment rate, in the first two years of the scenario. Inflation is positively correlated with GDP in the Downside scenario, and the ‘worst outcome’ refers to the cyclical low point. The following table describes key macroeconomic variables and the probabilities assigned in the Downside 1 scenario. Downside 1 scenario ’worst outcome’ UK US Hong Kong Mainland China Canada France UAE Mexico % % % % % % % % GDP growth rate (3.7) (1Q25) (4.1) (4Q24) (3.0) (4Q23) (1.2) (1Q25) (0.6) (4Q23) (3.1) (1Q25) (2.5) (1Q25) (5.3) (1Q25) Unemployment rate 6.6 (1Q24) 8.8 (4Q24) 6.5 (4Q24) 4.8 (1Q25) 9.9 (2Q25) 9.1 (3Q25) 3.0 (3Q22) 5.2 (2Q25) House price growth (11.9) (1Q24) (4.2) (1Q25) (7.6) (2Q25) (9.8) (3Q23) (8.2) (4Q23) (2.0) (4Q24) (4.4) (2Q25) 2.8 (4Q25) Inflation rate 9.5 (3Q22) 6.9 (3Q22) 4.2 (1Q23) 4.2 (1Q23) 6.3 (4Q22) 5.0 (4Q22) 3.7 (3Q22) 6.8 (3Q22) Probability 30 10 15 5 10 35 5 15 Note: Extreme point in the Downside 1 is the ‘worst outcome’ in the scenario, for example the lowest GDP growth and the highest inflation and unemployment rate. The following table describes key macroeconomic variables and the probabilities assigned in the Downside 2 scenario. Downside 2 scenario ‘worst outcome’ UK US Hong Kong Mainland China Canada France UAE Mexico % % % % % % % % GDP growth rate (6.3) (2Q23) (4.9) (2Q23) (9.3) (2Q23) (5.0) (2Q23) (3.4) (3Q23) (5.5) (2Q23) (6.5) (4Q23) (7.2) (2Q23) Unemployment rate 8.5 (3Q23) 9.1 (1Q24) 5.9 (2Q23) 5.4 (2Q24) 11.1 (4Q23) 10.2 (2Q24) 4.6 (3Q22) 5.7 (4Q23) House price growth (15.2) (3Q23) (10.8) (2Q23) (10.8) (3Q23) (18.7) (2Q23) (30.1) (3Q23) (4.5) (2Q24) (11.3) (1Q24) 1.1 (4Q23) Inflation rate (2.2) (4Q23) 1.5 (2Q24) (0.5) (1Q24) 1.4 (2Q24) 0.9 (2Q24) (2.7) (4Q23) 1.7 (2Q24) 3.4 (2Q24) Probability 10 10 5 5 10 15 5 10 IFRS 9 ECL sensitivity to future economic conditions 1,2 Gross carrying amount Reported Consensus Central scenario ECL Consensus Upside scenario ECL Consensus Downside scenario ECL Downside 1 scenario ECL Downside 2 scenario ECL By geography at 30 Jun 2022 $m $m $m $m $m $m $m UK 432,013 730 509 433 613 923 1,851 US 216,976 247 219 198 245 266 371 Hong Kong 433,612 534 415 286 703 640 1,313 Mainland China 131,552 216 144 62 298 379 729 Canada 83,132 116 28 18 52 86 717 Mexico 24,919 79 62 48 90 151 223 UAE 44,323 84 71 41 105 115 155 France 177,515 142 122 109 146 158 182 By geography at 31 Dec 2021 UK 483,273 920 727 590 944 1,985 US 227,817 227 204 155 317 391 Hong Kong 434,608 767 652 476 984 1,869 Mainland China 120,627 149 113 36 216 806 Canada 85,117 151 98 61 150 1,121 Mexico 23,054 118 80 61 123 358 UAE 44,767 158 122 73 214 711 France 163,845 133 121 106 162 187 1 ECL sensitivity includes off-balance sheet financial instruments that are subject to significant measurement uncertainty. 2 Includes low credit-risk financial instruments such as debt instruments at FVOCI, which have high carrying amounts but low ECL under all the above scenarios. IFRS 9 ECL sensitivity to future economic conditions 1 Gross carrying amount Reported Consensus Central scenario ECL Consensus Upside scenario ECL Consensus Downside scenario ECL Downside 1 scenario ECL Downside 2 scenario ECL By geography at 30 Jun 2022 $m $m $m $m $m $m $m UK Mortgages 144,630 169 156 150 170 186 200 Credit cards 7,147 433 336 293 434 495 836 Other 7,253 374 305 258 325 471 595 Mexico Mortgages 5,560 118 107 96 124 115 160 Credit cards 1,303 167 157 143 180 182 216 Other 3,119 395 387 371 411 400 471 Hong Kong Mortgages 98,070 — — — — — — Credit cards 7,180 236 208 182 269 310 336 Other 5,848 99 91 83 105 111 140 UAE Mortgages 2,081 37 37 35 37 39 40 Credit cards 427 41 34 20 67 36 70 Other 656 17 15 12 16 17 21 France Mortgages 21,384 59 59 59 59 59 60 Other 1,438 48 48 47 48 49 50 US Mortgages 13,300 11 9 9 11 11 21 Credit cards 224 51 47 39 52 60 70 Canada Mortgages 26,311 27 25 24 27 27 43 Credit cards 282 10 10 10 10 11 12 Other 1,520 14 12 11 14 16 24 By geography at 31 Dec 2021 UK Mortgages 155,084 191 182 175 197 231 Credit cards 8,084 439 381 330 456 987 Other 7,902 369 298 254 388 830 Mexico Mortgages 4,972 123 116 106 130 164 Credit cards 1,167 141 134 122 150 176 Other 2,935 366 360 350 374 401 Hong Kong Mortgages 96,697 — — — — — Credit cards 7,644 218 206 154 231 359 Other 5,628 109 101 88 128 180 UAE Mortgages 1,982 45 44 42 46 57 Credit cards 429 43 41 29 54 82 Other 615 19 18 13 21 25 France Mortgages 23,159 63 62 62 63 64 Other 1,602 61 61 60 61 63 US Mortgages 15,379 28 27 26 29 41 Credit cards 446 80 76 70 83 118 Canada Mortgages 26,097 28 27 26 29 48 Credit cards 279 9 9 9 10 13 Other 1,598 19 18 17 19 27 1 ECL sensitivities exclude portfolios utilising less complex modelling approaches. Retail 1 Wholesale 1 Total Group ECL at 30 Jun 2022 $bn $bn Reported ECL 2.8 2.6 Scenarios 100% consensus Central scenario (0.3) (0.7) 100% consensus Upside scenario (0.5) (1.1) 100% consensus Downside scenario 0.1 0.2 100% Downside 1 scenario 0.3 0.6 100% Downside 2 scenario 1.4 4.2 Total Group ECL at 31 Dec 2021 Reported ECL 3.0 3.1 Scenarios 100% consensus Central scenario (0.2) (0.6) 100% consensus Upside scenario (0.5) (1.2) 100% consensus Downside scenario 0.2 0.6 100% Downside 1 scenario 100% Downside 2 scenario 2.0 5.5 1 On the same basis as retail and wholesale sensitivity analysis. |
Disclosure of financial assets that are either past due or impaired | Management judgemental adjustments made in estimating the reported ECL at 30 June 2022 are set out in the following table. Management judgemental adjustments to ECL at 30 June 2022 1 Retail Wholesale Total $bn $bn $bn Banks, sovereigns and government entities — — Corporate lending adjustments 0.8 0.8 Inflation-related adjustments 0.1 0.1 Other macroeconomic-related adjustments 0.1 0.1 Pandemic-related economic recovery adjustments 0.1 0.1 Other retail lending adjustments 0.2 0.2 Total 0.4 0.8 1.2 Management judgemental adjustments to ECL at 31 December 2021 1 Retail Wholesale Total $bn $bn $bn Banks, sovereigns and government entities (0.1) (0.1) Corporate lending adjustments 1.3 1.3 Other macroeconomic-related adjustments — Pandemic-related economic recovery adjustments 0.2 0.2 Other retail lending adjustments 0.3 0.3 Total 0.5 1.2 1.7 1 Management judgemental adjustments presented in the table reflect increases or (decreases) to ECL, respectively. Distribution of financial instruments to which the impairment requirements in IFRS 9 are applied, by credit quality and stage allocation Gross carrying/nominal amount Allowance Net Strong Good Satisfactory Sub-standard Credit Total $m $m $m $m $m $m $m $m Loans and advances to customers at amortised cost 524,443 239,180 227,371 28,934 19,202 1,039,130 (10,774) 1,028,356 – stage 1 511,234 208,847 166,552 5,189 — 891,822 (1,116) 890,706 – stage 2 13,209 30,333 60,819 23,744 — 128,105 (2,998) 125,107 – stage 3 — — — — 19,086 19,086 (6,617) 12,469 – POCI — — — 1 116 117 (43) 74 Loans and advances to banks at amortised cost 87,017 4,169 4,121 1,095 79 96,481 (52) 96,429 – stage 1 86,906 4,088 4,096 1 — 95,091 (8) 95,083 – stage 2 111 81 25 1,094 — 1,311 (25) 1,286 – stage 3 — — — — 79 79 (19) 60 – POCI — — — — — — — — Other financial assets measured at amortised cost 832,310 72,077 44,274 1,037 309 950,007 (281) 949,726 – stage 1 831,582 70,175 43,167 59 — 944,983 (71) 944,912 – stage 2 728 1,902 1,107 978 — 4,715 (119) 4,596 – stage 3 — — — — 264 264 (85) 179 – POCI — — — — 45 45 (6) 39 Loan and other credit-related commitments 399,238 136,087 89,993 6,758 1,015 633,091 (337) 632,754 – stage 1 397,945 129,260 79,384 2,000 — 608,589 (124) 608,465 – stage 2 1,293 6,827 10,609 4,758 — 23,487 (159) 23,328 – stage 3 — — — — 1,015 1,015 (54) 961 – POCI — — — — — — — — Financial guarantees 7,065 4,504 4,787 1,050 180 17,586 (42) 17,544 – stage 1 7,008 4,227 3,807 156 — 15,198 (6) 15,192 – stage 2 57 277 980 894 — 2,208 (19) 2,189 – stage 3 — — — — 180 180 (17) 163 – POCI — — — — — — — — At 30 Jun 2022 1,850,073 456,017 370,546 38,874 20,785 2,736,295 (11,486) 2,724,809 Debt instruments at FVOCI 1 – stage 1 262,420 10,762 8,824 — — 282,006 (63) 281,943 – stage 2 86 28 111 2,083 — 2,308 (46) 2,262 – stage 3 — — — — 5 5 (3) 2 – POCI — — — — 33 33 (8) 25 At 30 Jun 2022 262,506 10,790 8,935 2,083 38 284,352 (120) 284,232 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 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 (continued) Gross carrying/notional amount Strong Good Satisfactory Sub- standard Credit impaired Total Allowance for ECL Net $m $m $m $m $m $m $m $m Loans and advances to customers at amortised cost 544,695 230,326 233,739 29,404 19,067 1,057,231 (11,417) 1,045,814 – stage 1 537,642 206,645 169,809 4,840 — 918,936 (1,367) 917,569 – stage 2 7,053 23,681 63,930 24,560 — 119,224 (3,119) 116,105 – stage 3 — — — — 18,797 18,797 (6,867) 11,930 – POCI — — — 4 270 274 (64) 210 Loans and advances to banks at amortised cost 72,978 4,037 5,020 1,118 — 83,153 (17) 83,136 – stage 1 72,903 3,935 4,788 10 — 81,636 (14) 81,622 – stage 2 75 102 232 1,108 — 1,517 (3) 1,514 – stage 3 — — — — — — — — – POCI — — — — — — — — Other financial assets measured at amortised cost 774,026 71,648 33,142 1,188 347 880,351 (193) 880,158 – stage 1 773,427 70,508 30,997 84 — 875,016 (91) 874,925 – stage 2 599 1,140 2,145 1,104 — 4,988 (54) 4,934 – stage 3 — — — — 304 304 (42) 262 – POCI — — — — 43 43 (6) 37 Loan and other credit-related commitments 389,865 136,297 92,558 8,142 775 627,637 (379) 627,258 – stage 1 387,434 129,455 76,043 1,541 — 594,473 (165) 594,308 – stage 2 2,431 6,842 16,515 6,601 — 32,389 (174) 32,215 – stage 3 — — — — 775 775 (40) 735 – POCI — — — — — — — — Financial guarantees 16,511 4,902 5,166 991 225 27,795 (62) 27,733 – stage 1 16,351 4,469 3,929 183 — 24,932 (11) 24,921 – stage 2 160 433 1,237 808 — 2,638 (30) 2,608 – stage 3 — — — — 225 225 (21) 204 – POCI — — — — — — — — At 31 Dec 2021 1,798,075 447,210 369,625 40,843 20,414 2,676,167 (12,068) 2,664,099 Debt instruments at FVOCI 1 – stage 1 319,557 12,196 11,354 — — 343,107 (67) 343,040 – stage 2 604 102 323 1,087 — 2,116 (22) 2,094 – stage 3 — — — — — — — — – POCI — — — — 46 46 (7) 39 At 31 Dec 2021 320,161 12,298 11,677 1,087 46 345,269 (96) 345,173 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 will not reconcile to the balance sheet as it excludes fair value gains and losses. |
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 loan commitments and financial guarantees 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 2022 1,577,582 (1,557) 155,742 (3,326) 19,797 (6,928) 274 (64) 1,753,395 (11,875) Transfers of financial instruments: (31,551) (362) 26,697 809 4,854 (447) — — — — – transfers from stage 1 to stage 2 (85,624) 192 85,624 (192) — — — — — — – transfers from stage 2 to stage 1 54,842 (531) (54,842) 531 — — — — — — – transfers to stage 3 (1,131) 6 (5,059) 590 6,190 (596) — — — — – transfers from stage 3 362 (29) 974 (120) (1,336) 149 — — — — Net remeasurement of ECL arising from transfer of stage — 304 — (379) — (61) — — — (136) New financial assets originated or purchased 208,663 (223) — — — — 1 (1) 208,664 (224) Assets derecognised (including final repayments) (123,163) 72 (18,234) 166 (1,391) 192 (98) — (142,886) 430 Changes to risk parameters – further lending/repayments (23,360) 185 (582) 53 (14) 227 (47) 3 (24,003) 468 Changes to risk parameters – credit quality — 255 — (700) — (1,292) — 19 — (1,718) Changes to models used for ECL calculation — (9) — (34) — (2) — — — (45) Assets written off — — — — (1,270) 1,271 (10) 9 (1,280) 1,280 Credit-related modifications that resulted in derecognition — — — — (2) 1 — — (2) 1 Foreign exchange (74,283) 70 (7,897) 154 (1,157) 307 (3) 1 (83,340) 532 Other 1, 2 7,228 11 (615) 56 (457) 25 — (10) 6,156 82 At 30 Jun 2022 1,541,116 (1,254) 155,111 (3,201) 20,360 (6,707) 117 (43) 1,716,704 (11,205) ECL income statement change for the period 584 (894) (936) 21 (1,225) Recoveries 158 Other 5 Total ECL income statement change for the period (1,062) At 30 Jun 2022 6 months ended 30 Jun 2022 Gross carrying/nominal amount Allowance for ECL release/(charge) $m $m $m As above 1,716,704 (11,205) (1,062) Other financial assets measured at amortised cost 950,007 (281) (20) Non-trading reverse purchase agreement commitments 69,584 — — Performance and other guarantees not considered for IFRS 9 — — 14 Summary of financial instruments to which the impairment requirements in IFRS 9 are applied/Summary consolidated income statement 2,736,295 (11,486) (1,068) Debt instruments measured at FVOCI 274,765 (120) (22) Total allowance for ECL/total income statement ECL change for the period n/a (11,606) (1,090) 1 Total includes $2.8bn of gross carrying loans and advances, which were classified to assets held for sale and a corresponding allowance for ECL of $147m, reflecting business disposals as disclosed in Note 15 ‘Business acquisitions and disposals’ on page 127. 2 Includes $8.9bn of gross carrying amounts of stage 1 loans and advances to banks, representing the balance maintained with the Bank of England to support Bacs along with Faster Payments and the cheque-processing Image Clearing System in the UK. This balance was previously reported under ‘Cash and balances at central banks’. Comparatives have not been restated. Reconciliation of changes in gross carrying/nominal amount and allowances for loans and advances to banks and customers including loan commitments and financial guarantees (continued) 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 2021 1,506,451 (2,331) 223,432 (5,403) 20,424 (7,544) 279 (113) 1,750,586 (15,391) Transfers of financial instruments: 21,107 (1,792) (27,863) 2,601 6,756 (809) — — — — – transfers from stage 1 to stage 2 (159,633) 527 159,633 (527) — — — — — — – transfers from stage 2 to stage 1 182,432 (2,279) (182,432) 2,279 — — — — — — – transfers to stage 3 (2,345) 24 (6,478) 1,010 8,823 (1,034) — — — — – transfers from stage 3 653 (64) 1,414 (161) (2,067) 225 — — — — Net remeasurement of ECL arising from transfer of stage — 1,225 — (596) — (34) — — — 595 New financial assets originated or purchased 444,070 (553) — — — — 124 — 444,194 (553) Assets derecognised (including final repayments) (304,158) 174 (31,393) 489 (2,750) 458 (10) 6 (338,311) 1,127 Changes to risk parameters – further lending/repayment (61,742) 547 (3,634) 498 (1,268) 576 (108) 12 (66,752) 1,633 Changes to risk parameters – credit quality — 1,111 — (1,012) — (2,354) — 28 — (2,227) Changes to models used for ECL calculation — (17) — (33) — 1 — — — (49) Assets written off — — — — (2,610) 2,605 (7) 7 (2,617) 2,612 Credit-related modifications that resulted in derecognition — — — — (125) — — — (125) — Foreign exchange (25,231) 26 (2,918) 45 (479) 157 (4) 1 (28,632) 229 Other 1 (2,915) 53 (1,882) 85 (151) 16 — (5) (4,948) 149 At 31 Dec 2021 1,577,582 (1,557) 155,742 (3,326) 19,797 (6,928) 274 (64) 1,753,395 (11,875) ECL income statement change for the period 2,487 (654) (1,353) 46 526 Recoveries 409 Other (111) Total ECL income statement change for the period 2 824 At 31 Dec 2021 12 months ended 31 Dec 2021 Gross carrying/nominal amount Allowance for ECL charge $m $m $m As above 1,753,395 (11,875) 824 Other financial assets measured at amortised cost 880,351 (193) (19) Non-trading reverse purchase agreement commitments 42,421 — — Performance and other guarantees not considered for IFRS 9 — — 75 Summary of financial instruments to which the impairment requirements in IFRS 9 are applied/Summary consolidated income statement 2,676,167 (12,068) 880 Debt instruments measured at FVOCI 347,203 (96) 48 Total allowance for ECL/total income statement ECL change for the period n/a (12,164) 928 1 Total includes $3.0bn of gross carrying loans and advances to customers, which were classified to assets held for sale and a corresponding allowance for ECL of $123m, reflecting our exit of domestic mass market retail banking in the US. 2 The 31 December 2021 total ECL income statement change of $824m is attributable to $706m for the six months ended 30 June 2021 and $118m to the six months ended 31 December 2021. |
Disclosure of value at risk | Trading VaR, 99% 1 day Foreign exchange Interest Equity Credit Portfolio diversification 1 Total $m $m $m $m $m $m Half-year to 30 Jun 2022 11.3 26.8 14.6 16.1 (32.5) 36.3 Average 14.2 26.3 14.5 19.1 (35.1) 39.1 Maximum 29.2 33.9 19.2 27.9 55.6 Minimum 5.7 20.3 11.5 12.0 29.1 Half-year to 30 Jun 2021 13.6 33.5 15.8 18.3 (42.5) 38.7 Average 15.0 33.4 16.5 18.1 (46.2) 36.8 Maximum 31.8 50.4 24.3 29.4 48.2 Minimum 6.9 18.5 12.1 12.2 31.1 Half-year to 31 Dec 2021 9.1 25.9 15.4 24.8 (36.5) 38.8 Average 10.9 34.2 16.8 20.2 (44.8) 37.3 Maximum 20.0 51.7 22.7 26.9 53.8 Minimum 6.7 25.2 13.3 15.6 27.7 1 When VaR is calculated at a portfolio level, natural offsets in risk can occur when compared with aggregating VaR at the asset class level. This difference is called portfolio diversification. The asset class VaR maxima and minima reported in the table occurred on different dates within the reporting period. For this reason, we do not report an implied portfolio diversification measure between the maximum (minimum) asset class VaR measures and the maximum (minimum) total VaR measures in this table. Non-trading VaR, 99% 1 day Interest rate Credit spread Portfolio diversification 1 Total $m $m $m $m Half-year to 30 Jun 2022 113.3 53.3 (45.7) 120.8 Average 148.4 61.9 (36.7) 173.7 Maximum 225.5 84.7 265.3 Minimum 109.2 50.3 119.1 Half-year to 30 Jun 2021 193.7 73.8 (18.0) 249.5 Average 201.1 80.5 (31.2) 250.5 Maximum 248.7 99.3 298.8 Minimum 163.3 64.7 193.5 Half-year to 31 Dec 2021 216.4 70.3 (66.3) 220.4 Average 200.3 73.4 (49.1) 224.6 Maximum 235.7 79.9 268.4 Minimum 179.3 68.7 194.6 1 When VaR is calculated at a portfolio level, natural offsets in risk can occur when compared with aggregating VaR at the asset class level. This difference is called portfolio diversification. The asset class VaR maxima and minima reported in the table occurred on different dates within the reporting period. For this reason, we do not report an implied portfolio diversification measure between the maximum (minimum) asset class VaR measures and the maximum (minimum) total VaR measures in this table. |
Disclosure of amounts arising from insurance contracts | Balance sheet of insurance manufacturing subsidiaries by type of contract With Unit- Other contracts 1 Shareholder assets Total $m $m $m $m $m Financial assets 89,110 8,294 20,912 8,435 126,751 – trading assets — — — — — – financial assets designated and otherwise mandatorily measured at fair value through profit or loss 29,688 8,073 3,752 1,395 42,908 – derivatives 210 — 21 5 236 – financial investments – at amortised cost 44,257 57 15,683 4,410 64,407 – financial investments – at fair value through other comprehensive income 8,992 — 432 1,750 11,174 – other financial assets 2 5,963 164 1,024 875 8,026 Reinsurance assets 2,270 67 1,841 3 4,181 PVIF 3 — — — 10,437 10,437 Other assets and investment properties 2,498 4 224 964 3,690 Total assets at June 2022 93,878 8,365 22,977 19,839 145,059 Liabilities under investment contracts designated at fair value — 2,177 3,407 — 5,584 Liabilities under insurance contracts 90,169 5,558 17,468 — 113,195 Deferred tax 4 223 5 17 1,616 1,861 Other liabilities — — — 7,113 7,113 Total liabilities 90,392 7,740 20,892 8,729 127,753 Total equity — — — 17,306 17,306 Total liabilities and equity at June 2022 90,392 7,740 20,892 26,035 145,059 Financial assets 88,969 8,881 19,856 9,951 127,657 – trading assets — — — — — – financial assets designated at fair value 30,669 8,605 3,581 1,827 44,682 – derivatives 129 1 15 2 147 – financial investments at amortised cost 42,001 61 14,622 4,909 61,593 – financial investments at fair value through other comprehensive income 10,858 — 459 1,951 13,268 – other financial assets 2 5,312 214 1,179 1,262 7,967 Reinsurance assets 2,180 72 1,666 3 3,921 PVIF 3 — — — 9,453 9,453 Other assets and investment properties 2,558 1 206 820 3,585 Total assets at December 2021 93,707 8,954 21,728 20,227 144,616 Liabilities under investment contracts designated at fair value — 2,297 3,641 — 5,938 Liabilities under insurance contracts 89,492 6,558 16,757 — 112,807 Deferred tax 4 179 9 24 1,418 1,630 Other liabilities — — — 7,269 7,269 Total liabilities 89,671 8,864 20,422 8,687 127,644 Total equity — — — 16,972 16,972 Total liabilities and equity at December 2021 89,671 8,864 20,422 25,659 144,616 1 Other contracts includes term assurance, credit life insurance, universal life insurance and certain 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. |
Disclosure of sensitivity to insurance risk | Sensitivity of HSBC’s insurance manufacturing subsidiaries to market risk factors At 30 Jun 2022 At 31 Dec 2021 Effect on Effect on Effect on Effect on $m $m $m $m +100 basis point parallel shift in yield curves (136) (270) (2) (142) -100 basis point parallel shift in yield curves (47) 92 (154) (9) 10% increase in equity prices 373 373 369 369 10% decrease in equity prices (388) (388) (377) (377) 10% increase in US dollar exchange rate compared with all currencies 126 126 80 80 10% decrease in US dollar exchange rate compared with all currencies (127) (127) (80) (80) |
Net fee income - Summary of net
Net fee income - Summary of net fee income (Details) - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2022 | Dec. 31, 2021 | Jun. 30, 2021 | |
Disclosure Of Analysis Of Income And Expense [Line Items] | |||
Funds under management | $ 1,224 | $ 1,352 | $ 1,304 |
Cards | 1,201 | 1,178 | 1,035 |
Credit facilities | 790 | 800 | 827 |
Account services | 720 | 738 | 714 |
Broking income | 707 | 706 | 895 |
Unit trusts | 408 | 485 | 603 |
Underwriting | 257 | 441 | 576 |
Global custody | 471 | 478 | 500 |
Remittances | 394 | 414 | 361 |
Imports/exports | 321 | 320 | 300 |
Insurance agency commission | 163 | 165 | 176 |
Other | 1,293 | 1,253 | 1,167 |
Fee income | 7,949 | 8,330 | 8,458 |
Less: fee expense | (1,885) | (1,907) | (1,784) |
Net fee income | 6,064 | 6,423 | 6,674 |
Wealth and Personal Banking | |||
Disclosure Of Analysis Of Income And Expense [Line Items] | |||
Net fee income | 2,619 | 2,852 | 3,042 |
Commercial Banking | |||
Disclosure Of Analysis Of Income And Expense [Line Items] | |||
Net fee income | 1,919 | 1,853 | 1,786 |
Global Banking and Markets | |||
Disclosure Of Analysis Of Income And Expense [Line Items] | |||
Net fee income | 1,526 | 1,746 | 1,857 |
Corporate Centre | |||
Disclosure Of Analysis Of Income And Expense [Line Items] | |||
Net fee income | $ 0 | $ (28) | $ (11) |
Dividends - Commentary (Details
Dividends - Commentary (Details) - Fourth quarter dividend $ / shares in Units, $ in Millions | Aug. 01, 2022 USD ($) $ / shares |
Disclosure of classes of share capital [line items] | |
Dividends proposed or declared before financial statements authorised for issue but not recognised as distribution to owners | $ | $ 1,800 |
Ordinary shares | |
Disclosure of classes of share capital [line items] | |
Dividends proposed or declared before financial statements authorised for issue but not recognised as distribution to owners per share (in USD per share) | $ / shares | $ 0.09 |
Dividends - Dividends to shareh
Dividends - Dividends to shareholders of the parent company (Details) - USD ($) $ / shares in Units, $ in Millions | 6 Months Ended | |||||
Dec. 10, 2020 | Jun. 30, 2022 | Dec. 31, 2021 | Jun. 30, 2021 | Dec. 31, 2020 | ||
Dividends Payable [Line Items] | ||||||
Dividends paid on ordinary shares (in usd per share) | $ 0.18 | $ 0.07 | $ 0.15 | |||
Dividends paid on ordinary shares | $ 3,576 | $ 1,421 | $ 3,059 | |||
Settled in scrip | 0 | 0 | 0 | |||
Dividends Paid | 4,497 | $ 2,262 | 4,121 | |||
Reduction of issued capital | $ 723 | $ 2,000 | [1] | |||
Total dividends on preference shares classified as equity (paid quarterly) | ||||||
Dividends Payable [Line Items] | ||||||
Reduction of issued capital | $ 1,450 | |||||
Other equity instruments interest rate | 6.20% | |||||
Total dividends on preference shares classified as equity (paid quarterly) | ||||||
Dividends Payable [Line Items] | ||||||
Dividends on preference shares classified as equity (in usd per share) | $ 0 | $ 0 | $ 4.99 | |||
Dividends on preference shares classified as equity | $ 0 | $ 0 | $ 7 | |||
Total coupons on capital securities classified as equity | ||||||
Dividends Payable [Line Items] | ||||||
Dividends on preference shares classified as equity | 626 | 637 | 666 | |||
Dividends Paid | 626 | 666 | $ 637 | |||
Reduction of issued capital | 723 | 2,000 | [1] | |||
Dividends to shareholders | ||||||
Dividends Payable [Line Items] | ||||||
Dividends Paid | 4,202 | $ 2,058 | 3,732 | |||
Reduction of issued capital | $ 723 | $ 2,000 | [1] | |||
Second quarter dividend, 2021 | ||||||
Dividends Payable [Line Items] | ||||||
Dividends paid on ordinary shares (in usd per share) | $ 0 | $ 0 | $ 0.15 | |||
Dividends paid on ordinary shares | $ 0 | $ 0 | $ 3,059 | |||
Settled in scrip | $ 0 | $ 0 | $ 0 | |||
Fourth quarter dividend, 2021 | ||||||
Dividends Payable [Line Items] | ||||||
Dividends paid on ordinary shares (in usd per share) | $ 0.18 | $ 0 | $ 0 | |||
Dividends paid on ordinary shares | $ 3,576 | $ 0 | $ 0 | |||
Settled in scrip | $ 0 | $ 0 | $ 0 | |||
Second quarter dividend, 2022 | ||||||
Dividends Payable [Line Items] | ||||||
Dividends paid on ordinary shares (in usd per share) | $ 0 | $ 0.07 | $ 0 | |||
Dividends paid on ordinary shares | $ 0 | $ 1,421 | $ 0 | |||
Settled in scrip | $ 0 | $ 0 | $ 0 | |||
[1]During 2021, HSBC Holdings redeemed $2,000m 6.875% perpetual subordinated contingent convertible securities. |
Dividends - Total coupons on ca
Dividends - Total coupons on capital securities classified as equity (Details) | 6 Months Ended | |||||||||
Jun. 30, 2022 USD ($) $ / shares | Jun. 30, 2022 USD ($) € / shares | Jun. 30, 2022 USD ($) £ / shares | Jun. 30, 2022 USD ($) $ / shares | Dec. 31, 2021 USD ($) | Jun. 30, 2021 USD ($) | Dec. 31, 2020 USD ($) | Jun. 30, 2022 EUR (€) | Jun. 30, 2022 GBP (£) | Jun. 30, 2022 SGD ($) | |
Disclosure Of Other Equity [Line Items] | ||||||||||
Dividends on other equity instruments | $ 4,497,000,000 | $ 2,262,000,000 | $ 4,121,000,000 | |||||||
Other equity instru- ments | ||||||||||
Disclosure Of Other Equity [Line Items] | ||||||||||
Dividends on other equity instruments | 626,000,000 | 666,000,000 | $ 637,000,000 | |||||||
Contingent convertible securities | ||||||||||
Disclosure Of Other Equity [Line Items] | ||||||||||
Discretionary coupons denominations per security | 1,000 | $ 1,000 | $ 1,000 | $ 1,000 | ||||||
– $2,000m issued at 6.875% | ||||||||||
Disclosure Of Other Equity [Line Items] | ||||||||||
Notional amount | $ 2,000 | $ 2,000 | $ 2,000 | $ 2,000 | ||||||
Other equity instruments interest rate | 6.875% | 6.875% | 6.875% | 6.875% | 6.875% | 6.875% | 6.875% | |||
– $2,000m issued at 6.875% | Other equity instru- ments | ||||||||||
Disclosure Of Other Equity [Line Items] | ||||||||||
Dividends on other equity instruments (per share) | $ / shares | $ 68.750 | |||||||||
Dividends on other equity instruments | $ 0 | 69,000,000 | 0 | |||||||
– $2,250m issued at 6.375% | ||||||||||
Disclosure Of Other Equity [Line Items] | ||||||||||
Notional amount | $ 2,250 | $ 2,250 | $ 2,250 | $ 2,250 | ||||||
Other equity instruments interest rate | 6.375% | 6.375% | 6.375% | 6.375% | 6.375% | 6.375% | 6.375% | |||
– $2,250m issued at 6.375% | Other equity instru- ments | ||||||||||
Disclosure Of Other Equity [Line Items] | ||||||||||
Dividends on other equity instruments (per share) | $ / shares | $ 63.750 | |||||||||
Dividends on other equity instruments | $ 72,000,000 | 72,000,000 | 71,000,000 | |||||||
– $2,450m issued at 6.375% | ||||||||||
Disclosure Of Other Equity [Line Items] | ||||||||||
Notional amount | $ 2,450 | $ 2,450 | $ 2,450 | $ 2,450 | ||||||
Other equity instruments interest rate | 6.375% | 6.375% | 6.375% | 6.375% | 6.375% | 6.375% | 6.375% | |||
– $2,450m issued at 6.375% | Other equity instru- ments | ||||||||||
Disclosure Of Other Equity [Line Items] | ||||||||||
Dividends on other equity instruments (per share) | $ / shares | $ 63.750 | |||||||||
Dividends on other equity instruments | $ 78,000,000 | 78,000,000 | 78,000,000 | |||||||
– $3,000m issued at 6.000% | ||||||||||
Disclosure Of Other Equity [Line Items] | ||||||||||
Notional amount | $ 3,000 | $ 3,000 | $ 3,000 | $ 3,000 | ||||||
Other equity instruments interest rate | 6% | 6% | 6% | 6% | 6% | 6% | 6% | |||
– $3,000m issued at 6.000% | Other equity instru- ments | ||||||||||
Disclosure Of Other Equity [Line Items] | ||||||||||
Dividends on other equity instruments (per share) | $ / shares | $ 60 | |||||||||
Dividends on other equity instruments | $ 90,000,000 | 90,000,000 | 90,000,000 | |||||||
– $2,350m issued at 6.250% | ||||||||||
Disclosure Of Other Equity [Line Items] | ||||||||||
Notional amount | $ 2,350 | $ 2,350 | $ 2,350 | $ 2,350 | ||||||
Other equity instruments interest rate | 6.25% | 6.25% | 6.25% | 6.25% | 6.25% | 6.25% | 6.25% | |||
– $2,350m issued at 6.250% | Other equity instru- ments | ||||||||||
Disclosure Of Other Equity [Line Items] | ||||||||||
Dividends on other equity instruments (per share) | $ / shares | $ 62.500 | |||||||||
Dividends on other equity instruments | $ 73,000,000 | 73,000,000 | 74,000,000 | |||||||
– $1,800m issued at 6.500% | ||||||||||
Disclosure Of Other Equity [Line Items] | ||||||||||
Notional amount | $ 1,800 | $ 1,800 | $ 1,800 | $ 1,800 | ||||||
Other equity instruments interest rate | 6.50% | 6.50% | 6.50% | 6.50% | 6.50% | 6.50% | 6.50% | |||
– $1,800m issued at 6.500% | Other equity instru- ments | ||||||||||
Disclosure Of Other Equity [Line Items] | ||||||||||
Dividends on other equity instruments (per share) | $ / shares | $ 65 | |||||||||
Dividends on other equity instruments | $ 59,000,000 | 59,000,000 | 58,000,000 | |||||||
– $1,500m issued at 4.600% | ||||||||||
Disclosure Of Other Equity [Line Items] | ||||||||||
Notional amount | $ 1,500 | $ 1,500 | $ 1,500 | $ 1,500 | ||||||
Other equity instruments interest rate | 4.60% | 4.60% | 4.60% | 4.60% | 4.60% | 4.60% | 4.60% | |||
– $1,500m issued at 4.600% | Other equity instru- ments | ||||||||||
Disclosure Of Other Equity [Line Items] | ||||||||||
Dividends on other equity instruments (per share) | $ / shares | $ 46 | |||||||||
Dividends on other equity instruments | $ 34,000,000 | 35,000,000 | 34,000,000 | |||||||
– $1,000m issued at 4.000% | ||||||||||
Disclosure Of Other Equity [Line Items] | ||||||||||
Notional amount | $ 1,000 | $ 1,000 | $ 1,000 | $ 1,000 | ||||||
Other equity instruments interest rate | 4% | 4% | 4% | 4% | 4% | 4% | 4% | |||
– $1,000m issued at 4.000% | Other equity instru- ments | ||||||||||
Disclosure Of Other Equity [Line Items] | ||||||||||
Dividends on other equity instruments (per share) | $ / shares | $ 40 | |||||||||
Dividends on other equity instruments | $ 20,000,000 | 0 | 20,000,000 | |||||||
– $1,000m issued at 4.700% | ||||||||||
Disclosure Of Other Equity [Line Items] | ||||||||||
Notional amount | $ 1,000 | $ 1,000 | $ 1,000 | $ 1,000 | ||||||
Other equity instruments interest rate | 4.70% | 4.70% | 4.70% | 4.70% | 4.70% | 4.70% | 4.70% | |||
– $1,000m issued at 4.700% | Other equity instru- ments | ||||||||||
Disclosure Of Other Equity [Line Items] | ||||||||||
Dividends on other equity instruments (per share) | $ / shares | $ 47 | |||||||||
Dividends on other equity instruments | $ 24,000,000 | 0 | 24,000,000 | |||||||
– €1,500m issued at 5.250% | ||||||||||
Disclosure Of Other Equity [Line Items] | ||||||||||
Notional amount | € | € 1,500 | |||||||||
Other equity instruments interest rate | 5.25% | 5.25% | 5.25% | 5.25% | 5.25% | 5.25% | 5.25% | |||
– €1,500m issued at 5.250% | Other equity instru- ments | ||||||||||
Disclosure Of Other Equity [Line Items] | ||||||||||
Dividends on other equity instruments (per share) | € / shares | $ 52.500 | |||||||||
Dividends on other equity instruments | $ 44,000,000 | 47,000,000 | 46,000,000 | |||||||
– €1,000m issued at 6.000% | ||||||||||
Disclosure Of Other Equity [Line Items] | ||||||||||
Notional amount | € | € 1,000 | |||||||||
Other equity instruments interest rate | 6% | 6% | 6% | 6% | 6% | 6% | 6% | |||
– €1,000m issued at 6.000% | Other equity instru- ments | ||||||||||
Disclosure Of Other Equity [Line Items] | ||||||||||
Dividends on other equity instruments (per share) | € / shares | $ 60 | |||||||||
Dividends on other equity instruments | $ 33,000,000 | 34,000,000 | 36,000,000 | |||||||
– €1,250m issued at 4.750% | ||||||||||
Disclosure Of Other Equity [Line Items] | ||||||||||
Notional amount | € | € 1,250 | |||||||||
Other equity instruments interest rate | 4.75% | 4.75% | 4.75% | 4.75% | 4.75% | 4.75% | 4.75% | |||
– €1,250m issued at 4.750% | Other equity instru- ments | ||||||||||
Disclosure Of Other Equity [Line Items] | ||||||||||
Dividends on other equity instruments (per share) | € / shares | $ 47.500 | |||||||||
Dividends on other equity instruments | $ 34,000,000 | 36,000,000 | 36,000,000 | |||||||
– £1,000m issued at 5.875% | ||||||||||
Disclosure Of Other Equity [Line Items] | ||||||||||
Notional amount | £ | £ 1,000 | |||||||||
Other equity instruments interest rate | 5.875% | 5.875% | 5.875% | 5.875% | 5.875% | 5.875% | 5.875% | |||
– £1,000m issued at 5.875% | Other equity instru- ments | ||||||||||
Disclosure Of Other Equity [Line Items] | ||||||||||
Dividends on other equity instruments (per share) | £ / shares | $ 58.750 | |||||||||
Dividends on other equity instruments | $ 37,000,000 | 41,000,000 | 39,000,000 | |||||||
– SGD1,000m issued at 4.700% | ||||||||||
Disclosure Of Other Equity [Line Items] | ||||||||||
Notional amount | $ 1,000 | |||||||||
Other equity instruments interest rate | 4.70% | 4.70% | 4.70% | 4.70% | 4.70% | 4.70% | 4.70% | |||
– SGD1,000m issued at 4.700% | Other equity instru- ments | ||||||||||
Disclosure Of Other Equity [Line Items] | ||||||||||
Dividends on other equity instruments (per share) | $ / shares | $ 47 | |||||||||
Dividends on other equity instruments | $ 14,000,000 | 18,000,000 | 17,000,000 | |||||||
– SGD750m issued at 5.000% | ||||||||||
Disclosure Of Other Equity [Line Items] | ||||||||||
Notional amount | $ 750 | |||||||||
Other equity instruments interest rate | 5% | 5% | 5% | 5% | 5% | 5% | 5% | |||
– SGD750m issued at 5.000% | Other equity instru- ments | ||||||||||
Disclosure Of Other Equity [Line Items] | ||||||||||
Dividends on other equity instruments (per share) | $ / shares | $ 50 | |||||||||
Dividends on other equity instruments | $ 14,000,000 | $ 14,000,000 | $ 14,000,000 |
Earnings per share - Profit att
Earnings per share - Profit attributable to ordinary shareholders (Details) - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2022 | Dec. 31, 2021 | Jun. 30, 2021 | |
Earnings per share [abstract] | |||
Profit attributable to shareholders of the parent company | $ 8,915 | $ 5,968 | $ 7,949 |
Dividend payable on preference shares classified as equity | 0 | 0 | (7) |
Coupon payable on capital securities classified as equity | (626) | (637) | (666) |
Profit attributable to ordinary shareholders of the parent company | $ 8,289 | $ 5,331 | $ 7,276 |
Earnings per share - Basic and
Earnings per share - Basic and diluted earnings per share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 6 Months Ended | ||
Jun. 30, 2022 | Dec. 31, 2021 | Jun. 30, 2021 | |
Earnings per share [abstract] | |||
Profit | $ 8,289 | $ 5,331 | $ 7,276 |
Basic, number of shares (in shares) | 19,954 | 20,183 | 20,211 |
Effect of dilutive potential ordinary shares (in shares) | 130 | 103 | 97 |
Diluted, number of shares (in shares) | 20,084 | 20,286 | 20,308 |
Basic, amount per share (in dollars per share) | $ 0.42 | $ 0.26 | $ 0.36 |
Diluted, amount per share (in dollars per share) | $ 0.41 | $ 0.26 | $ 0.36 |
Segmental analysis - Adjusted p
Segmental analysis - Adjusted profit before tax and balance sheet data (Details) $ in Millions | 6 Months Ended | ||
Jun. 30, 2022 USD ($) global_function | Dec. 31, 2021 USD ($) | Jun. 30, 2021 USD ($) | |
Disclosure of operating segments [line items] | |||
Number of global functions | global_function | 3 | ||
Net operating income/(expense) before change in expected credit losses and other credit impairment charges | $ 25,236 | $ 24,001 | $ 25,551 |
– of which: net interest income/(expense) | 14,451 | 13,391 | 13,098 |
Change in expected credit losses and other credit impairment charges | (1,090) | 209 | 719 |
Net operating income | 24,146 | 24,210 | 26,270 |
Total operating expenses | (16,419) | (17,533) | (17,087) |
Operating profit | 7,727 | 6,677 | 9,183 |
Share of profit in associates and joint ventures | 1,449 | 1,390 | 1,656 |
Profit before tax | 9,176 | 8,067 | 10,839 |
Loans and advances to customers (net) | 1,028,356 | 1,045,814 | |
Interests in associates and joint ventures | 29,446 | 29,609 | |
Total external assets | 2,985,420 | 2,957,939 | |
Customer accounts | 1,651,301 | 1,710,574 | |
Operating segments | |||
Disclosure of operating segments [line items] | |||
Net operating income/(expense) before change in expected credit losses and other credit impairment charges | 25,690 | 23,577 | 24,734 |
Change in expected credit losses and other credit impairment charges | (1,090) | 174 | 675 |
Net operating income | 24,600 | 23,751 | 25,409 |
Total operating expenses | (15,376) | (15,447) | (15,520) |
Operating profit | 9,224 | 8,304 | 9,889 |
Share of profit in associates and joint ventures | 1,449 | 1,377 | 1,649 |
Profit before tax | $ 10,673 | $ 9,681 | $ 11,538 |
Share of HSBC’s adjusted profit before tax | 100% | 100% | 100% |
Adjusted cost efficiency ratio | 0.599 | 0.655 | 0.627 |
Loans and advances to customers (net) | $ 1,028,356 | $ 994,702 | $ 994,555 |
Interests in associates and joint ventures | 29,446 | 28,560 | 27,918 |
Total external assets | 2,985,420 | 2,812,349 | 2,790,476 |
Customer accounts | 1,651,301 | 1,627,174 | 1,565,942 |
Operating segments | Wealth and Personal Banking | |||
Disclosure of operating segments [line items] | |||
Net operating income/(expense) before change in expected credit losses and other credit impairment charges | 10,922 | 10,439 | 10,980 |
Change in expected credit losses and other credit impairment charges | (573) | 215 | 38 |
Net operating income | 10,349 | 10,654 | 11,018 |
Total operating expenses | (7,411) | (7,574) | (7,277) |
Operating profit | 2,938 | 3,080 | 3,741 |
Share of profit in associates and joint ventures | 8 | 24 | 10 |
Profit before tax | $ 2,946 | $ 3,104 | $ 3,751 |
Share of HSBC’s adjusted profit before tax | 27.60% | 32.10% | 32.50% |
Adjusted cost efficiency ratio | 0.679 | 0.726 | 0.663 |
Loans and advances to customers (net) | $ 475,464 | $ 462,452 | $ 458,573 |
Interests in associates and joint ventures | 484 | 490 | 467 |
Total external assets | 882,490 | 889,349 | 859,383 |
Customer accounts | 836,026 | 820,564 | 793,277 |
Operating segments | Commercial Banking | |||
Disclosure of operating segments [line items] | |||
Net operating income/(expense) before change in expected credit losses and other credit impairment charges | 7,217 | 6,556 | 6,353 |
Change in expected credit losses and other credit impairment charges | (288) | 40 | 228 |
Net operating income | 6,929 | 6,596 | 6,581 |
Total operating expenses | (3,351) | (3,355) | (3,371) |
Operating profit | 3,578 | 3,241 | 3,210 |
Share of profit in associates and joint ventures | 0 | 0 | 1 |
Profit before tax | $ 3,578 | $ 3,241 | $ 3,211 |
Share of HSBC’s adjusted profit before tax | 33.50% | 33.50% | 27.80% |
Adjusted cost efficiency ratio | 0.464 | 0.512 | 0.531 |
Loans and advances to customers (net) | $ 348,253 | $ 332,710 | $ 329,873 |
Interests in associates and joint ventures | 14 | 13 | 15 |
Total external assets | 619,490 | 589,834 | 581,741 |
Customer accounts | 479,680 | 481,781 | 455,006 |
Operating segments | 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 | 7,841 | 6,878 | 7,518 |
Change in expected credit losses and other credit impairment charges | (227) | (80) | 405 |
Net operating income | 7,614 | 6,798 | 7,923 |
Total operating expenses | (4,735) | (4,831) | (4,724) |
Operating profit | 2,879 | 1,967 | 3,199 |
Share of profit in associates and joint ventures | 0 | 0 | 0 |
Profit before tax | $ 2,879 | $ 1,967 | $ 3,199 |
Share of HSBC’s adjusted profit before tax | 27% | 20.30% | 27.70% |
Adjusted cost efficiency ratio | 0.604 | 0.702 | 0.629 |
Loans and advances to customers (net) | $ 204,097 | $ 198,854 | $ 205,044 |
Interests in associates and joint ventures | 121 | 119 | 121 |
Total external assets | 1,318,425 | 1,157,478 | 1,164,916 |
Customer accounts | 335,033 | 324,239 | 316,865 |
Operating segments | Corporate Centre | |||
Disclosure of operating segments [line items] | |||
Net operating income/(expense) before change in expected credit losses and other credit impairment charges | (290) | (296) | (117) |
Change in expected credit losses and other credit impairment charges | (2) | (1) | 4 |
Net operating income | (292) | (297) | (113) |
Total operating expenses | 121 | 313 | (148) |
Operating profit | (171) | 16 | (261) |
Share of profit in associates and joint ventures | 1,441 | 1,353 | 1,638 |
Profit before tax | $ 1,270 | $ 1,369 | $ 1,377 |
Share of HSBC’s adjusted profit before tax | 11.90% | 14.10% | 12% |
Adjusted cost efficiency ratio | 0.417 | 1.057 | (1.265) |
Loans and advances to customers (net) | $ 542 | $ 686 | $ 1,065 |
Interests in associates and joint ventures | 28,827 | 27,938 | 27,315 |
Total external assets | 165,015 | 175,688 | 184,436 |
Customer accounts | 562 | 590 | 794 |
Operating segments excluding intersegment elimination | |||
Disclosure of operating segments [line items] | |||
Net operating income/(expense) before change in expected credit losses and other credit impairment charges | 25,690 | 23,577 | 24,734 |
– of which: net interest income/(expense) | 14,465 | 13,021 | 12,542 |
Loans and advances to customers (net) | 1,028,356 | ||
Customer accounts | 1,651,301 | ||
Operating segments excluding intersegment elimination | Wealth and Personal Banking | |||
Disclosure of operating segments [line items] | |||
Net operating income/(expense) before change in expected credit losses and other credit impairment charges | 10,569 | 10,354 | 10,782 |
– of which: net interest income/(expense) | 7,658 | 6,955 | 6,807 |
Operating segments excluding intersegment elimination | Commercial Banking | |||
Disclosure of operating segments [line items] | |||
Net operating income/(expense) before change in expected credit losses and other credit impairment charges | 7,281 | 6,460 | 6,326 |
– of which: net interest income/(expense) | 5,007 | 4,387 | 4,172 |
Operating segments excluding intersegment elimination | 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 | 8,867 | 7,676 | 8,305 |
– of which: net interest income/(expense) | 2,296 | 2,032 | 1,937 |
Operating segments excluding intersegment elimination | Corporate Centre | |||
Disclosure of operating segments [line items] | |||
Net operating income/(expense) before change in expected credit losses and other credit impairment charges | (1,027) | (913) | (679) |
– of which: net interest income/(expense) | (496) | (353) | (374) |
– inter-segment | |||
Disclosure of operating segments [line items] | |||
Net operating income/(expense) before change in expected credit losses and other credit impairment charges | 0 | 0 | 0 |
– inter-segment | Wealth and Personal Banking | |||
Disclosure of operating segments [line items] | |||
Net operating income/(expense) before change in expected credit losses and other credit impairment charges | 353 | 85 | 198 |
– 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 | (64) | 96 | 27 |
– 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 | (1,026) | (798) | (787) |
– 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 | $ 737 | $ 617 | $ 562 |
Segmental analysis - Reported e
Segmental analysis - Reported external net operating income by country/territory (Details) - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2022 | Dec. 31, 2021 | Jun. 30, 2021 | |
Disclosure of geographical areas [line items] | |||
Net operating income | $ 25,236 | $ 24,001 | $ 25,551 |
UK | |||
Disclosure of geographical areas [line items] | |||
Net operating income | 6,554 | 5,299 | 5,610 |
Hong Kong | |||
Disclosure of geographical areas [line items] | |||
Net operating income | 6,837 | 6,769 | 7,476 |
US | |||
Disclosure of geographical areas [line items] | |||
Net operating income | 1,964 | 1,802 | 1,993 |
France | |||
Disclosure of geographical areas [line items] | |||
Net operating income | 1,158 | 951 | 1,228 |
– other countries/territories | |||
Disclosure of geographical areas [line items] | |||
Net operating income | $ 8,723 | $ 9,180 | $ 9,244 |
Segmental analysis - Adjusted r
Segmental analysis - Adjusted results reconciliation (Details) - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2022 | Dec. 31, 2021 | Jun. 30, 2021 | |
Disclosure of operating segments [line items] | |||
Revenue | $ 25,236 | $ 24,001 | $ 25,551 |
ECL | (1,090) | 209 | 719 |
Operating expenses | (16,419) | (17,533) | (17,087) |
Share of profit in associates and joint ventures | 1,449 | 1,390 | 1,656 |
Profit before tax | 9,176 | 8,067 | 10,839 |
Operating segments | |||
Disclosure of operating segments [line items] | |||
Revenue | 25,690 | 23,577 | 24,734 |
ECL | (1,090) | 174 | 675 |
Operating expenses | (15,376) | (15,447) | (15,520) |
Share of profit in associates and joint ventures | 1,449 | 1,377 | 1,649 |
Profit before tax | 10,673 | 9,681 | 11,538 |
Significant items | |||
Disclosure of operating segments [line items] | |||
Revenue | (454) | (287) | (252) |
ECL | 0 | 0 | 0 |
Operating expenses | (1,043) | (1,576) | (818) |
Share of profit in associates and joint ventures | 0 | 0 | 0 |
Profit before tax | (1,497) | (1,863) | (1,070) |
Currency translation | |||
Disclosure of operating segments [line items] | |||
Revenue | 711 | 1,069 | |
ECL | 35 | 44 | |
Operating expenses | (510) | (749) | |
Share of profit in associates and joint ventures | 13 | 7 | |
Profit before tax | $ 249 | $ 371 |
Segmental analysis - Adjusted b
Segmental analysis - Adjusted balance sheet reconciliation (Details) - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 | Jun. 30, 2021 |
Disclosure of operating segments [line items] | |||
Loans and advances to customers (net) | $ 1,028,356 | $ 1,045,814 | |
Interests in associates and joint ventures | 29,446 | 29,609 | |
Total external assets | 2,985,420 | 2,957,939 | |
Customer accounts | 1,651,301 | 1,710,574 | |
Operating segments | |||
Disclosure of operating segments [line items] | |||
Loans and advances to customers (net) | 1,028,356 | 994,702 | $ 994,555 |
Interests in associates and joint ventures | 29,446 | 28,560 | 27,918 |
Total external assets | 2,985,420 | 2,812,349 | 2,790,476 |
Customer accounts | $ 1,651,301 | 1,627,174 | $ 1,565,942 |
Currency translation | |||
Disclosure of operating segments [line items] | |||
Loans and advances to customers (net) | 51,112 | ||
Interests in associates and joint ventures | 1,049 | ||
Total external assets | 145,590 | ||
Customer accounts | 83,400 | ||
Operating segments excluding intersegment elimination | |||
Disclosure of operating segments [line items] | |||
Loans and advances to customers (net) | 1,028,356 | ||
Customer accounts | $ 1,651,301 |
Segmental analysis - Adjusted_2
Segmental analysis - Adjusted profit reconciliation (Details) - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2022 | Dec. 31, 2021 | Jun. 30, 2021 | |
Disclosure of operating segments [line items] | |||
Adjusted profit before tax | $ 10,673 | $ 9,681 | $ 11,538 |
Profit before tax | 9,176 | 8,067 | 10,839 |
Operating segments | |||
Disclosure of operating segments [line items] | |||
Profit before tax | 10,673 | 9,681 | 11,538 |
Significant items | |||
Disclosure of operating segments [line items] | |||
Profit before tax | (1,497) | (1,863) | (1,070) |
– customer redress programmes (revenue) | (14) | (7) | 18 |
– disposals, acquisitions and investment in new businesses (revenue) | (288) | 0 | 0 |
Fair value movements on financial instruments | (220) | (48) | (194) |
Restructuring and other related costs (revenue) | 68 | (237) | (70) |
– customer redress programmes (operating expenses) | 6 | (32) | (17) |
– impairment of goodwill and other intangible assets | (9) | (587) | 0 |
– restructuring and other related costs (operating expenses) | (1,040) | (988) | (848) |
– currency translation on significant items | 36 | 41 | |
Currency translation | |||
Disclosure of operating segments [line items] | |||
Profit before tax | $ 249 | $ 371 |
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 | Jun. 30, 2022 | Dec. 31, 2021 | Jun. 30, 2021 | Dec. 31, 2020 |
Financial investments | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | $ 276,577 | $ 348,972 | ||
Recurring fair value measurement | Level 3 | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 22,859 | 22,767 | ||
Financial liabilities | 11,136 | 11,753 | ||
Recurring fair value measurement | Trading liabilities | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 80,569 | 84,904 | ||
Recurring fair value measurement | Trading liabilities | Level 1 | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 60,623 | 63,437 | ||
Recurring fair value measurement | Trading liabilities | Level 2 | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 19,595 | 20,682 | ||
Recurring fair value measurement | Trading liabilities | Level 3 | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 351 | 785 | $ 857 | $ 162 |
Recurring fair value measurement | Financial liabilities designated at fair value | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 126,006 | 145,502 | ||
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 | 1,135 | 1,379 | ||
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 | 116,406 | 136,243 | ||
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 | 8,465 | 7,880 | 7,237 | 5,306 |
Recurring fair value measurement | Derivatives | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 251,469 | 191,064 | ||
Recurring fair value measurement | Derivatives | Level 1 | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 2,758 | 1,686 | ||
Recurring fair value measurement | Derivatives | Level 2 | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 246,391 | 186,290 | ||
Recurring fair value measurement | Derivatives | Level 3 | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 2,320 | 3,088 | 3,421 | 4,188 |
Recurring fair value measurement | Trading assets | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 217,350 | 248,842 | ||
Recurring fair value measurement | Trading assets | Level 1 | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 148,156 | 180,423 | ||
Recurring fair value measurement | Trading assets | Level 2 | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 66,218 | 65,757 | ||
Recurring fair value measurement | Trading assets | Level 3 | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 2,976 | 2,662 | 2,509 | 2,499 |
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 | 45,873 | 49,804 | ||
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 | 15,558 | 17,937 | ||
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 | 15,252 | 17,629 | ||
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 | 15,063 | 14,238 | 12,988 | 11,477 |
Recurring fair value measurement | Derivatives | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 262,923 | 196,882 | ||
Recurring fair value measurement | Derivatives | Level 1 | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 2,556 | 2,783 | ||
Recurring fair value measurement | Derivatives | Level 2 | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 258,256 | 191,621 | ||
Recurring fair value measurement | Derivatives | Level 3 | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 2,111 | 2,478 | 2,677 | 2,670 |
Recurring fair value measurement | Financial investments | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 276,577 | 348,972 | ||
Recurring fair value measurement | Financial investments | Level 1 | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 191,631 | 247,745 | ||
Recurring fair value measurement | Financial investments | Level 2 | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 82,237 | 97,838 | ||
Recurring fair value measurement | Financial investments | Level 3 | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | $ 2,709 | $ 3,389 | $ 3,243 | $ 3,654 |
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 | 6 Months Ended | 12 Months Ended |
Jun. 30, 2022 | Dec. 31, 2021 | |
Trading liabilities | ||
Liabilities | ||
Transfers from Level 1 to Level 2 | $ 55 | $ 181 |
Transfers from Level 2 to Level 1 | 203 | 638 |
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 | 212 |
Transfers from Level 2 to Level 1 | 0 | 0 |
Financial investments | ||
Assets | ||
Transfers from Level 1 to Level 2 | 2,407 | 8,477 |
Transfers from Level 2 to Level 1 | 4,066 | 6,007 |
Trading assets | ||
Assets | ||
Transfers from Level 1 to Level 2 | 1,937 | 6,553 |
Transfers from Level 2 to Level 1 | 3,488 | 4,132 |
Designated and otherwise mandatorily measured at fair value | ||
Assets | ||
Transfers from Level 1 to Level 2 | 538 | 1,277 |
Transfers from Level 2 to Level 1 | 99 | 768 |
Derivatives | ||
Assets | ||
Transfers from Level 1 to Level 2 | 0 | 103 |
Transfers from Level 2 to Level 1 | $ 0 | $ 0 |
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 | 6 Months Ended | 12 Months Ended |
Jun. 30, 2022 | Dec. 31, 2021 | |
GBM | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | $ 960 | $ 1,031 |
Corporate Centre | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 28 | 42 |
Risk-related | GBM | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 800 | 868 |
Risk-related | Corporate Centre | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 28 | 42 |
– bid-offer | GBM | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 427 | 412 |
– bid-offer | Corporate Centre | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 0 | 0 |
– uncertainty | GBM | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 78 | 66 |
– uncertainty | Corporate Centre | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 1 | 1 |
– credit valuation adjustment | GBM | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 300 | 228 |
– credit valuation adjustment | Corporate Centre | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 21 | 35 |
– debt valuation adjustment | GBM | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | (204) | (92) |
– 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 | GBM | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 199 | 254 |
– funding fair value adjustment | Corporate Centre | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 6 | 6 |
– other | GBM | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 0 | 0 |
– other | Corporate Centre | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 0 | 0 |
Model-related | GBM | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 61 | 57 |
Model-related | Corporate Centre | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 0 | 0 |
– model limitation | GBM | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 61 | 57 |
– model limitation | Corporate Centre | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 0 | 0 |
– other | GBM | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 0 | 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)1 | GBM | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 99 | 106 |
Inception profit (Day 1 P&L reserves)1 | 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 | Jun. 30, 2022 | Dec. 31, 2021 | Jun. 30, 2021 | Dec. 31, 2020 |
Financial investments | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | $ 276,577 | $ 348,972 | ||
Recurring fair value measurement | Trading liabilities | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 80,569 | 84,904 | ||
Recurring fair value measurement | Designated at fair value | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 126,006 | 145,502 | ||
Recurring fair value measurement | Derivatives | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 251,469 | 191,064 | ||
Recurring fair value measurement | Financial investments | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 276,577 | 348,972 | ||
Recurring fair value measurement | Trading assets | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 217,350 | 248,842 | ||
Recurring fair value measurement | 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 | 45,873 | 49,804 | ||
Recurring fair value measurement | Derivatives | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 262,923 | 196,882 | ||
Recurring fair value measurement | Level 3 | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 22,859 | 22,767 | ||
Financial liabilities | 11,136 | 11,753 | ||
Recurring fair value measurement | Level 3 | Private equity including strategic investments | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 91 | 9 | ||
Recurring fair value measurement | Level 3 | Asset-backed securities | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 0 | 0 | ||
Recurring fair value measurement | Level 3 | Structured notes | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 8,465 | 7,879 | ||
Recurring fair value measurement | Level 3 | Derivatives with monolines | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 0 | |||
Recurring fair value measurement | Level 3 | Other derivatives | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 2,320 | 3,088 | ||
Recurring fair value measurement | Level 3 | Other portfolios | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 260 | 777 | ||
Recurring fair value measurement | Level 3 | Trading liabilities | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 351 | 785 | $ 857 | $ 162 |
Recurring fair value measurement | Level 3 | Trading liabilities | Private equity including strategic investments | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 91 | 9 | ||
Recurring fair value measurement | Level 3 | Trading liabilities | Asset-backed securities | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 0 | 0 | ||
Recurring fair value measurement | Level 3 | Trading liabilities | Structured notes | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 0 | 0 | ||
Recurring fair value measurement | Level 3 | Trading liabilities | Derivatives with monolines | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 0 | |||
Recurring fair value measurement | Level 3 | Trading liabilities | Other derivatives | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 0 | 0 | ||
Recurring fair value measurement | Level 3 | Trading liabilities | Other portfolios | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 260 | 776 | ||
Recurring fair value measurement | Level 3 | Designated at fair value | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 8,465 | 7,880 | 7,237 | 5,306 |
Recurring fair value measurement | Level 3 | Designated at fair value | Private equity including strategic investments | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 0 | 0 | ||
Recurring fair value measurement | Level 3 | Designated at fair value | Asset-backed securities | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 0 | 0 | ||
Recurring fair value measurement | Level 3 | Designated at fair value | Structured notes | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 8,465 | 7,879 | ||
Recurring fair value measurement | Level 3 | Designated at fair value | Derivatives with monolines | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 0 | |||
Recurring fair value measurement | Level 3 | Designated at fair value | Other derivatives | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 0 | 0 | ||
Recurring fair value measurement | Level 3 | Designated at fair value | Other portfolios | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 0 | 1 | ||
Recurring fair value measurement | Level 3 | Derivatives | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 2,320 | 3,088 | 3,421 | 4,188 |
Recurring fair value measurement | Level 3 | Derivatives | Private equity including strategic investments | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 0 | 0 | ||
Recurring fair value measurement | Level 3 | Derivatives | Asset-backed securities | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 0 | 0 | ||
Recurring fair value measurement | Level 3 | Derivatives | Structured notes | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 0 | 0 | ||
Recurring fair value measurement | Level 3 | Derivatives | Derivatives with monolines | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 0 | |||
Recurring fair value measurement | Level 3 | Derivatives | Other derivatives | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 2,320 | 3,088 | ||
Recurring fair value measurement | Level 3 | Derivatives | Other portfolios | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 0 | 0 | ||
Recurring fair value measurement | Level 3 | Private equity including strategic investments | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 15,441 | 14,278 | ||
Recurring fair value measurement | Level 3 | Asset-backed securities | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 611 | 1,141 | ||
Recurring fair value measurement | Level 3 | Structured notes | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 0 | 0 | ||
Recurring fair value measurement | Level 3 | Derivatives with monolines | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 0 | |||
Recurring fair value measurement | Level 3 | Other derivatives | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 2,111 | 2,478 | ||
Recurring fair value measurement | Level 3 | Other portfolios | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 4,696 | 4,870 | ||
Recurring fair value measurement | Level 3 | Financial investments | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 2,709 | 3,389 | 3,243 | 3,654 |
Recurring fair value measurement | Level 3 | Financial investments | Private equity including strategic investments | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 647 | 544 | ||
Recurring fair value measurement | Level 3 | Financial investments | Asset-backed securities | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 468 | 1,008 | ||
Recurring fair value measurement | Level 3 | Financial investments | Structured notes | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 0 | 0 | ||
Recurring fair value measurement | Level 3 | Financial investments | Derivatives with monolines | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 0 | |||
Recurring fair value measurement | Level 3 | Financial investments | Other derivatives | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 0 | 0 | ||
Recurring fair value measurement | Level 3 | Financial investments | Other portfolios | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 1,594 | 1,837 | ||
Recurring fair value measurement | Level 3 | Trading assets | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 2,976 | 2,662 | 2,509 | 2,499 |
Recurring fair value measurement | Level 3 | Trading assets | Private equity including strategic investments | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 90 | 2 | ||
Recurring fair value measurement | Level 3 | Trading assets | Asset-backed securities | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 114 | 132 | ||
Recurring fair value measurement | Level 3 | Trading assets | Structured notes | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 0 | 0 | ||
Recurring fair value measurement | Level 3 | Trading assets | Derivatives with monolines | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 0 | |||
Recurring fair value measurement | Level 3 | Trading assets | Other derivatives | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 0 | 0 | ||
Recurring fair value measurement | Level 3 | Trading assets | Other portfolios | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 2,772 | 2,528 | ||
Recurring fair value measurement | Level 3 | 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 | 15,063 | 14,238 | 12,988 | 11,477 |
Recurring fair value measurement | Level 3 | Designated and otherwise mandatorily measured at fair value through profit or loss | Private equity including strategic investments | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 14,704 | 13,732 | ||
Recurring fair value measurement | Level 3 | 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 | 29 | 1 | ||
Recurring fair value measurement | Level 3 | Designated and otherwise mandatorily measured at fair value through profit or loss | Structured notes | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 0 | 0 | ||
Recurring fair value measurement | Level 3 | Designated and otherwise mandatorily measured at fair value through profit or loss | Derivatives with monolines | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 0 | |||
Recurring fair value measurement | Level 3 | Designated and otherwise mandatorily measured at fair value through profit or loss | Other derivatives | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 0 | 0 | ||
Recurring fair value measurement | Level 3 | Designated and otherwise mandatorily measured at fair value through profit or loss | Other portfolios | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 330 | 505 | ||
Recurring fair value measurement | Level 3 | Derivatives | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 2,111 | 2,478 | $ 2,677 | $ 2,670 |
Recurring fair value measurement | Level 3 | Derivatives | Private equity including strategic investments | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 0 | 0 | ||
Recurring fair value measurement | Level 3 | Derivatives | Asset-backed securities | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 0 | 0 | ||
Recurring fair value measurement | Level 3 | Derivatives | Structured notes | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 0 | 0 | ||
Recurring fair value measurement | Level 3 | Derivatives | Derivatives with monolines | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 0 | |||
Recurring fair value measurement | Level 3 | Derivatives | Other derivatives | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 2,111 | 2,478 | ||
Recurring fair value measurement | Level 3 | Derivatives | Other portfolios | ||||
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 | 6 Months Ended | |||
Jun. 30, 2022 | Dec. 31, 2021 | Jun. 30, 2021 | Dec. 31, 2020 | |
Reconciliation of changes in fair value measurement, assets [abstract] | ||||
– financial investments: fair value gains | $ (6,328) | $ (878) | $ (1,392) | |
Level 3 | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, assets [abstract] | ||||
Financial assets, beginning balance | 22,767 | |||
Financial assets, ending balance | 22,859 | 22,767 | ||
Reconciliation of changes in fair value measurement, liabilities [abstract] | ||||
Financial liabilities, beginning balance | 11,753 | |||
Financial liabilities, ending balance | 11,136 | 11,753 | ||
Trading liabilities | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, liabilities [abstract] | ||||
Financial liabilities, beginning balance | 84,904 | |||
Financial liabilities, ending balance | 80,569 | 84,904 | ||
Trading liabilities | Level 3 | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, assets [abstract] | ||||
– financial investments: fair value gains | 0 | 0 | $ 0 | |
– exchange differences | (12) | (3) | (5) | |
Reconciliation of changes in fair value measurement, liabilities [abstract] | ||||
Financial liabilities, beginning balance | 785 | 857 | 162 | |
Total gains recognised in profit or loss | (45) | 15 | 1 | |
Total gains/(losses) recognised in other comprehensive income (‘OCI’) | (12) | (3) | (5) | |
– exchange differences | (12) | (3) | (5) | |
Purchases | 13 | 482 | 532 | |
New issuances | 4 | 24 | 11 | |
Sales | (95) | 0 | (4) | |
Settlements | (636) | (8) | (673) | |
Transfers out | (7) | (1) | (6) | |
Transfers in | 344 | 186 | 72 | |
Financial liabilities, ending balance | 351 | 785 | 857 | 162 |
Unrealised gains/(losses) recognised in profit or loss relating to liabilities held | 1 | 2 | 0 | |
Designated at fair value | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, liabilities [abstract] | ||||
Financial liabilities, beginning balance | 145,502 | |||
Financial liabilities, ending balance | 126,006 | 145,502 | ||
Designated at fair value | Level 3 | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, assets [abstract] | ||||
– financial investments: fair value gains | (18) | 0 | 0 | |
– exchange differences | (380) | 2 | (63) | |
Reconciliation of changes in fair value measurement, liabilities [abstract] | ||||
Financial liabilities, beginning balance | 7,880 | 7,237 | 5,306 | |
Total gains recognised in profit or loss | (1,103) | (456) | (380) | |
Total gains/(losses) recognised in other comprehensive income (‘OCI’) | (398) | 2 | (63) | |
– exchange differences | (380) | 2 | (63) | |
Purchases | 0 | 0 | 1 | |
New issuances | 2,511 | 2,725 | 3,244 | |
Sales | (22) | 0 | (27) | |
Settlements | (723) | (896) | (2,026) | |
Transfers out | (549) | (339) | (365) | |
Transfers in | 869 | 895 | 259 | |
Financial liabilities, ending balance | 8,465 | 7,880 | 7,237 | 5,306 |
Unrealised gains/(losses) recognised in profit or loss relating to liabilities held | 423 | 106 | 166 | |
Derivatives | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, liabilities [abstract] | ||||
Financial liabilities, beginning balance | 191,064 | |||
Financial liabilities, ending balance | 251,469 | 191,064 | ||
Derivatives | Level 3 | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, assets [abstract] | ||||
– financial investments: fair value gains | 0 | 0 | 0 | |
– exchange differences | (231) | 29 | (55) | |
Reconciliation of changes in fair value measurement, liabilities [abstract] | ||||
Financial liabilities, beginning balance | 3,088 | 3,421 | 4,188 | |
Total gains recognised in profit or loss | 165 | 466 | 2,117 | |
Total gains/(losses) recognised in other comprehensive income (‘OCI’) | (231) | 29 | (55) | |
– exchange differences | (231) | 29 | (55) | |
Purchases | 0 | 0 | 0 | |
New issuances | 0 | 0 | 0 | |
Sales | 0 | 0 | 0 | |
Settlements | (580) | (1,537) | (2,425) | |
Transfers out | (437) | (221) | (513) | |
Transfers in | 315 | 496 | 543 | |
Financial liabilities, ending balance | 2,320 | 3,088 | 3,421 | 4,188 |
Unrealised gains/(losses) recognised in profit or loss relating to liabilities held | 3,494 | (4) | (969) | |
Financial investments | ||||
Reconciliation of changes in fair value measurement, assets [abstract] | ||||
Financial assets, beginning balance | 348,972 | |||
Financial assets, ending balance | 276,577 | 348,972 | ||
Financial investments | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, assets [abstract] | ||||
Financial assets, beginning balance | 348,972 | |||
Financial assets, ending balance | 276,577 | 348,972 | ||
Financial investments | Level 3 | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, assets [abstract] | ||||
Financial assets, beginning balance | 3,389 | 3,243 | 3,654 | |
Total gains recognised in profit or loss | (7) | 2 | (12) | |
Total gains/(losses) recognised in other comprehensive income (‘OCI’) | (287) | (391) | (130) | |
– financial investments: fair value gains | (140) | (360) | (68) | |
– exchange differences | (147) | (31) | (62) | |
Purchases | 506 | 390 | 635 | |
New issuances | 0 | 0 | 0 | |
Sales | (186) | (214) | (366) | |
Settlements | (273) | (177) | (159) | |
Transfers out | (501) | (311) | (72) | |
Transfers in | 68 | 290 | 250 | |
Financial assets, ending balance | 2,709 | 3,389 | 3,243 | 3,654 |
Unrealised gains/(losses) recognised in profit or loss relating to assets held | 0 | 0 | 0 | |
Reconciliation of changes in fair value measurement, liabilities [abstract] | ||||
– exchange differences | (147) | (31) | (62) | |
Trading assets | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, assets [abstract] | ||||
Financial assets, beginning balance | 248,842 | |||
Financial assets, ending balance | 217,350 | 248,842 | ||
Trading assets | Level 3 | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, assets [abstract] | ||||
Financial assets, beginning balance | 2,662 | 2,509 | 2,499 | |
Total gains recognised in profit or loss | (22) | (155) | (223) | |
Total gains/(losses) recognised in other comprehensive income (‘OCI’) | (165) | 23 | (41) | |
– financial investments: fair value gains | 0 | 0 | 0 | |
– exchange differences | (165) | 23 | (41) | |
Purchases | 1,026 | 1,094 | 894 | |
New issuances | 0 | 0 | 0 | |
Sales | (698) | (244) | (229) | |
Settlements | (373) | (494) | (253) | |
Transfers out | (287) | (512) | (515) | |
Transfers in | 833 | 298 | 520 | |
Financial assets, ending balance | 2,976 | 2,662 | 2,509 | 2,499 |
Unrealised gains/(losses) recognised in profit or loss relating to assets held | (37) | (99) | (309) | |
Reconciliation of changes in fair value measurement, liabilities [abstract] | ||||
– exchange differences | (165) | 23 | (41) | |
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 | 49,804 | |||
Financial assets, ending balance | 45,873 | 49,804 | ||
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 | 14,238 | 12,988 | 11,477 | |
Total gains recognised in profit or loss | 310 | 1,038 | 715 | |
Total gains/(losses) recognised in other comprehensive income (‘OCI’) | (336) | (114) | (171) | |
– financial investments: fair value gains | 0 | 0 | 0 | |
– exchange differences | (336) | (114) | (171) | |
Purchases | 1,707 | 1,631 | 2,061 | |
New issuances | 0 | 0 | 0 | |
Sales | (299) | (499) | (717) | |
Settlements | (561) | (436) | (613) | |
Transfers out | (36) | (159) | (25) | |
Transfers in | 40 | 50 | 0 | |
Financial assets, ending balance | 15,063 | 14,238 | 12,988 | 11,477 |
Unrealised gains/(losses) recognised in profit or loss relating to assets held | 291 | 885 | 1,509 | |
Reconciliation of changes in fair value measurement, liabilities [abstract] | ||||
– exchange differences | (336) | (114) | (171) | |
Derivatives | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, assets [abstract] | ||||
Financial assets, beginning balance | 196,882 | |||
Financial assets, ending balance | 262,923 | 196,882 | ||
Derivatives | Level 3 | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, assets [abstract] | ||||
Financial assets, beginning balance | 2,478 | 2,677 | 2,670 | |
Total gains recognised in profit or loss | 408 | 195 | 2,042 | |
Total gains/(losses) recognised in other comprehensive income (‘OCI’) | (191) | 23 | (50) | |
– financial investments: fair value gains | 0 | 0 | 0 | |
– exchange differences | (191) | 23 | (50) | |
Purchases | 0 | 0 | 0 | |
New issuances | 0 | 0 | 0 | |
Sales | 0 | 0 | 0 | |
Settlements | (509) | (359) | (1,988) | |
Transfers out | (290) | (126) | (292) | |
Transfers in | 215 | 274 | 89 | |
Financial assets, ending balance | 2,111 | $ 2,478 | 2,677 | 2,670 |
Unrealised gains/(losses) recognised in profit or loss relating to assets held | 929 | 175 | 1,298 | |
Reconciliation of changes in fair value measurement, liabilities [abstract] | ||||
– exchange differences | (191) | 23 | (50) | |
– net income/(losses) 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 recognised in profit or loss | (45) | 15 | 1 | |
Unrealised gains/(losses) recognised in profit or loss relating to liabilities held | 1 | 2 | 0 | |
– net income/(losses) from financial instruments held for trading or managed on a fair value basis | Designated at fair value | Level 3 | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, liabilities [abstract] | ||||
Total gains recognised in profit or loss | 0 | 0 | 0 | |
Unrealised gains/(losses) recognised in profit or loss relating to liabilities held | 0 | 0 | 0 | |
– net income/(losses) 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 recognised in profit or loss | 165 | 466 | 2,117 | |
Unrealised gains/(losses) recognised in profit or loss relating to liabilities held | 3,494 | (4) | (969) | |
– net income/(losses) 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 recognised in profit or loss | 0 | 0 | 0 | |
Unrealised gains/(losses) recognised in profit or loss relating to assets held | 0 | 0 | 0 | |
– net income/(losses) 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 recognised in profit or loss | (22) | (155) | (223) | |
Unrealised gains/(losses) recognised in profit or loss relating to assets held | (37) | (99) | (309) | |
– net income/(losses) from financial instruments held for trading or managed on a fair value basis | 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 recognised in profit or loss | 0 | 0 | 0 | |
Unrealised gains/(losses) recognised in profit or loss relating to assets held | 0 | 0 | 0 | |
– net income/(losses) 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 recognised in profit or loss | 408 | 195 | 2,042 | |
Unrealised gains/(losses) recognised in profit or loss relating to assets held | 929 | 175 | 1,298 | |
– 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 recognised in profit or loss | 0 | 0 | 0 | |
Unrealised gains/(losses) recognised in profit or loss relating to liabilities held | 0 | 0 | 0 | |
– changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss | Designated at fair value | Level 3 | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, liabilities [abstract] | ||||
Total gains recognised in profit or loss | (1,103) | (456) | (380) | |
Unrealised gains/(losses) recognised in profit or loss relating to liabilities held | 423 | 106 | 166 | |
– 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 recognised in profit or loss | 0 | 0 | 0 | |
Unrealised gains/(losses) recognised in profit or loss relating to liabilities held | 0 | 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 recognised in profit or loss | 0 | 0 | 0 | |
Unrealised gains/(losses) recognised in profit or loss relating to assets held | 0 | 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 recognised in profit or loss | 0 | 0 | 0 | |
Unrealised gains/(losses) recognised in profit or loss relating to assets held | 0 | 0 | 0 | |
– changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss | 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 recognised in profit or loss | 310 | 1,038 | 715 | |
Unrealised gains/(losses) recognised in profit or loss relating to assets held | 291 | 885 | 1,509 | |
– 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 recognised in profit or loss | 0 | 0 | 0 | |
Unrealised gains/(losses) recognised in profit or loss relating to assets held | 0 | 0 | 0 | |
– gains less losses from financial investments held 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 recognised in profit or loss | 0 | 0 | 0 | |
– gains less losses from financial investments held at fair value through other comprehensive income | Designated at fair value | Level 3 | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, liabilities [abstract] | ||||
Total gains recognised in profit or loss | 0 | 0 | 0 | |
– gains less losses from financial investments held 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 recognised in profit or loss | 0 | 0 | 0 | |
– gains less losses from financial investments held 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 recognised in profit or loss | (7) | 2 | (12) | |
– gains less losses from financial investments held 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 recognised in profit or loss | 0 | 0 | 0 | |
– gains less losses from financial investments held at fair value through other comprehensive income | 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 recognised in profit or loss | 0 | 0 | 0 | |
– gains less losses from financial investments held 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 recognised in profit or loss | $ 0 | $ 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) $ in Millions | 6 Months Ended | ||
Jun. 30, 2022 USD ($) category | Jun. 30, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Favourable changes reflected in profit or loss | $ 1,163 | $ 998 | $ 1,012 |
Unfavourable changes reflected in profit or loss | (1,162) | (1,014) | (1,034) |
Favourable changes recognized in OCI | 142 | 105 | 113 |
Unfavourable changes recognized in OCI | $ (143) | (104) | (112) |
Number of financial instrument categories | category | 1 | ||
Confidence level | 95% | ||
Derivatives, trading assets and trading liabilities | Derivatives, trading liabilities | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Favourable changes reflected in profit or loss | $ 172 | 179 | 143 |
Unfavourable changes reflected in profit or loss | (179) | (197) | (146) |
Favourable changes recognized in OCI | 0 | 0 | 0 |
Unfavourable changes recognized in OCI | 0 | 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 | 979 | 795 | 849 |
Unfavourable changes reflected in profit or loss | (977) | (793) | (868) |
Favourable changes recognized in OCI | 0 | 0 | 0 |
Unfavourable changes recognized in OCI | 0 | 0 | 0 |
Financial investments | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Favourable changes reflected in profit or loss | 12 | 24 | 20 |
Unfavourable changes reflected in profit or loss | (6) | (24) | (20) |
Favourable changes recognized in OCI | 142 | 105 | 113 |
Unfavourable changes recognized in OCI | $ (143) | $ (104) | $ (112) |
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) - Recurring fair value measurement $ in Millions | Jun. 30, 2022 USD ($) | Dec. 31, 2021 USD ($) |
Prepayment rate | Minimum | Interest rate | securitisation swaps | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, liabilities, percentage | 0.05 | |
Prepayment rate | Maximum | Interest rate | securitisation swaps | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, liabilities, percentage | 0.10 | |
Prepayment rate | Market proxy | Minimum | – CLO/CDO | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, assets, percentage | 0 | |
Prepayment rate | Market proxy | Maximum | – CLO/CDO | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, assets, percentage | 0 | |
Prepayment rate | Model – Discounted cash flow | Minimum | Interest rate | securitisation swaps | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, assets, percentage | 0.05 | 0.05 |
Prepayment rate | Model – Discounted cash flow | Maximum | Interest rate | securitisation swaps | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, assets, percentage | 0.10 | 0.10 |
Bid quotes | Market proxy | Minimum | – CLO/CDO | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, assets, percentage | 0 | 0 |
Bid quotes | Market proxy | Minimum | – other ABSs | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, assets, percentage | 0 | 0 |
Bid quotes | Market proxy | Maximum | – CLO/CDO | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, assets, percentage | 98 | 100 |
Bid quotes | Market proxy | Maximum | – other ABSs | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, assets, percentage | 97 | 100 |
Equity volatility | Minimum | Equities | long-dated single stock options | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, liabilities, percentage | 0.04 | |
Equity volatility | Maximum | Equities | long-dated single stock options | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, liabilities, percentage | 1.38 | |
Equity volatility | Model – Option model | Minimum | – equity-linked notes | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, liabilities, percentage | 0.06 | 0.06 |
Equity volatility | Model – Option model | Minimum | Equities | long-dated single stock options | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, assets, percentage | 0.06 | 0.04 |
Equity volatility | Model – Option model | Maximum | – equity-linked notes | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, liabilities, percentage | 0.95 | 1.24 |
Equity volatility | Model – Option model | Maximum | Equities | long-dated single stock options | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, assets, percentage | 1.24 | 1.38 |
Equity correlation | Model – Option model | Minimum | – equity-linked notes two | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, liabilities, percentage | 0.30 | 0.22 |
Equity correlation | Model – Option model | Maximum | – equity-linked notes two | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, liabilities, percentage | 0.98 | 0.99 |
FX volatility | Minimum | Foreign exchange | FX options | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, liabilities, percentage | 0.01 | |
FX volatility | Maximum | Foreign exchange | FX options | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, liabilities, percentage | 0.99 | |
FX volatility | Model – Option model | Minimum | – Foreign exchange (‘FX’)-linked notes | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, liabilities, percentage | 0.03 | 0.01 |
FX volatility | Model – Option model | Minimum | Foreign exchange | FX options | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, assets, percentage | 0.01 | 0.01 |
FX volatility | Model – Option model | Maximum | – Foreign exchange (‘FX’)-linked notes | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, liabilities, percentage | 0.40 | 0.99 |
FX volatility | Model – Option model | Maximum | Foreign exchange | FX options | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, assets, percentage | 0.40 | 0.99 |
Credit spread | Model – Discounted cash flow | Minimum | Derivatives with monolines | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, assets, percentage | 0 | 0 |
Credit spread | Model – Discounted cash flow | Maximum | Derivatives with monolines | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, assets, percentage | 0 | 0 |
Interest rate volatility | Minimum | Interest rate | long-dated swaptions | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, liabilities, percentage | 0.15 | |
Interest rate volatility | Maximum | Interest rate | long-dated swaptions | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, liabilities, percentage | 0.35 | |
Interest rate volatility | Model – Option model | Minimum | Interest rate | long-dated swaptions | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, assets, percentage | 0.10 | 0.15 |
Interest rate volatility | Model – Option model | Maximum | Interest rate | long-dated swaptions | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, assets, percentage | 0.42 | 0.35 |
Interest rate volatility | Model – Discounted cash flow | Minimum | – repurchase agreements | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, assets, percentage | 0.01 | 0.01 |
Interest rate volatility | Model – Discounted cash flow | Maximum | – repurchase agreements | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, assets, percentage | 0.05 | 0.05 |
Level 3 | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | $ 22,859 | $ 22,767 |
Financial liabilities | 11,136 | 11,753 |
Level 3 | Private equity including strategic investments | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 91 | |
Level 3 | Structured notes | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 8,465 | 7,879 |
Level 3 | – equity-linked notes | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 6,648 | |
Level 3 | – Foreign exchange (‘FX’)-linked notes | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 994 | |
Level 3 | – other | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 823 | |
Level 3 | Other derivatives | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 2,320 | 3,088 |
Level 3 | Other portfolios | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 260 | 777 |
Level 3 | – other | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 28 | |
Level 3 | Private equity including strategic investments | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 15,441 | 14,278 |
Level 3 | Asset-backed securities | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 611 | $ 1,141 |
Level 3 | – CLO/CDO | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 25 | |
Level 3 | – other ABSs | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 586 | |
Level 3 | Derivatives with monolines | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 0 | |
Level 3 | Other derivatives | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 2,111 | |
Level 3 | long-dated single stock options | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 4,696 | |
Level 3 | – repurchase agreements | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 993 | |
Financial liabilities | 232 | |
Level 3 | – other | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 3,703 | |
Level 3 | Interest rate | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 448 | |
Financial liabilities | 588 | |
Level 3 | Interest rate | securitisation swaps | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 367 | |
Level 3 | Interest rate | long-dated swaptions | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 50 | |
Level 3 | Interest rate | other | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 171 | |
Level 3 | Interest rate | securitisation swaps | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 260 | |
Level 3 | Interest rate | long-dated swaptions | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 31 | |
Level 3 | Interest rate | other | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 157 | |
Level 3 | Foreign exchange | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 291 | |
Financial liabilities | 354 | |
Level 3 | Foreign exchange | other | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 161 | |
Level 3 | Foreign exchange | FX options | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 193 | |
Level 3 | Foreign exchange | other | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 179 | |
Level 3 | Foreign exchange | FX options | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 112 | |
Level 3 | Equities | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 1,232 | |
Financial liabilities | 1,154 | |
Level 3 | Equities | other | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 451 | |
Level 3 | Equities | long-dated single stock options | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 703 | |
Level 3 | Equities | other | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 695 | |
Level 3 | Equities | long-dated single stock options | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 537 | |
Level 3 | Credit | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 140 | |
Financial liabilities | 224 | |
Level 3 | Credit | other | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 224 | |
Level 3 | Credit | other | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | $ 140 |
Fair values of financial ins_12
Fair values of financial instruments carried at fair value - Sensitivity of Level 3 fair values to reasonably possible alternative assumptions by instrument type (Details) - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2020 | |
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Favourable changes reflected in profit or loss | $ 1,163 | $ 998 | $ 1,012 |
Unfavourable changes reflected in profit or loss | (1,162) | (1,014) | (1,034) |
Favourable changes recognized in OCI | 142 | 105 | 113 |
Unfavourable changes recognized in OCI | $ (143) | $ (104) | $ (112) |
Confidence level | 95% |
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 | Jun. 30, 2022 | Dec. 31, 2021 |
Deposits by banks | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | $ 105,275 | $ 101,152 |
Deposits by banks | Fair value | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 105,197 | 101,149 |
Customer accounts | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 1,651,301 | 1,710,574 |
Customer accounts | Fair value | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 1,651,234 | 1,710,733 |
Repurchase agreements – non-trading | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 129,707 | 126,670 |
Repurchase agreements – non-trading | Fair value | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 129,705 | 126,670 |
Debt securities in issue | At cost | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 87,944 | 78,557 |
Debt securities in issue | Fair value | At cost | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 85,581 | 79,243 |
Subordinated liabilities | At cost | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 20,711 | 20,487 |
Subordinated liabilities | Fair value | At cost | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 21,683 | 26,206 |
Loans and advances to banks | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 96,429 | 83,136 |
Loans and advances to banks | Fair value | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 96,445 | 83,293 |
Loans and advances to customers | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 1,028,356 | 1,045,814 |
Loans and advances to customers | Fair value | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 1,021,944 | 1,044,575 |
Repurchase agreements – non-trading | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 244,451 | 241,648 |
Repurchase agreements – non-trading | Fair value | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 244,381 | 241,652 |
Financial investments – at amortised cost | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 154,219 | 97,302 |
Financial investments – at amortised cost | Fair value | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | $ 148,456 | $ 102,267 |
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 | Jun. 30, 2022 USD ($) | Dec. 31, 2021 USD ($) |
Disclosure of detailed information about hedging instruments [line items] | ||
Notional contract amount of trading instruments | $ 25,290,225 | $ 23,117,598 |
Notional contract amount of hedging instruments | 276,518 | 206,760 |
Fair value of trading assets | $ 365,202 | $ 247,449 |
Fair value of hedging assets | 5,807 | 2,811 |
Gross total fair values of derivative assets | 371,009 | 250,260 |
Fair value of derivative assets | 262,923 | 196,882 |
Fair value of trading liabilities | 358,127 | 243,269 |
Fair value of hedging liabilities | 1,428 | 1,173 |
Gross total fair values of derivative liabilities | 359,555 | 244,442 |
Fair value of derivative liabilities | 251,469 | 191,064 |
Derivatives | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Amounts offset on derivative liabilities | (108,086) | (53,378) |
Derivatives | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Amounts offset on derivative assets | (108,086) | (53,378) |
Foreign exchange | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional contract amount of trading instruments | $ 8,856,919 | $ 7,723,034 |
Notional contract amount of hedging instruments | 38,611 | 43,839 |
Fair value of trading assets | $ 127,897 | $ 79,801 |
Fair value of hedging assets | 2,187 | 1,062 |
Gross total fair values of derivative assets | 130,084 | 80,863 |
Fair value of trading liabilities | 122,431 | 77,670 |
Fair value of hedging liabilities | 247 | 207 |
Gross total fair values of derivative liabilities | 122,678 | 77,877 |
Interest rate | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional contract amount of trading instruments | $ 15,558,726 | $ 14,470,539 |
Notional contract amount of hedging instruments | 237,907 | 162,921 |
Fair value of trading assets | $ 220,316 | $ 151,631 |
Fair value of hedging assets | 3,620 | 1,749 |
Gross total fair values of derivative assets | 223,936 | 153,380 |
Fair value of trading liabilities | 220,007 | 146,808 |
Fair value of hedging liabilities | 1,181 | 966 |
Gross total fair values of derivative liabilities | 221,188 | 147,774 |
Equities | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional contract amount of trading instruments | $ 573,332 | $ 659,142 |
Notional contract amount of hedging instruments | 0 | 0 |
Fair value of trading assets | $ 11,919 | $ 12,637 |
Fair value of hedging assets | 0 | 0 |
Gross total fair values of derivative assets | 11,919 | 12,637 |
Fair value of trading liabilities | 10,843 | 14,379 |
Fair value of hedging liabilities | 0 | 0 |
Gross total fair values of derivative liabilities | 10,843 | 14,379 |
Credit | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional contract amount of trading instruments | $ 199,195 | $ 190,724 |
Notional contract amount of hedging instruments | 0 | 0 |
Fair value of trading assets | $ 3,255 | $ 2,175 |
Fair value of hedging assets | 0 | 0 |
Gross total fair values of derivative assets | 3,255 | 2,175 |
Fair value of trading liabilities | 3,321 | 3,151 |
Fair value of hedging liabilities | 0 | 0 |
Gross total fair values of derivative liabilities | 3,321 | 3,151 |
Commodity and other | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional contract amount of trading instruments | $ 102,053 | $ 74,159 |
Notional contract amount of hedging instruments | 0 | 0 |
Fair value of trading assets | $ 1,815 | $ 1,205 |
Fair value of hedging assets | 0 | 0 |
Gross total fair values of derivative assets | 1,815 | 1,205 |
Fair value of trading liabilities | 1,525 | 1,261 |
Fair value of hedging liabilities | 0 | 0 |
Gross total fair values of derivative liabilities | $ 1,525 | $ 1,261 |
Derivatives - Unamortised balan
Derivatives - Unamortised balance of derivatives valued using models with significant unobservable inputs (Details) - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2020 | |
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 | $ 106 | $ 104 | |
Deferral on new transactions | 100 | 187 | $ 124 |
Recognised in the income statement during the period | (99) | (172) | (136) |
– amortisation | (61) | (89) | (88) |
– subsequent to unobservable inputs becoming observable | 0 | (3) | (1) |
– maturity, termination or offsetting derivative | (38) | (80) | (47) |
Exchange differences | (8) | 1 | (2) |
Unamortised balance at end of period | $ 99 | $ 120 | $ 104 |
Derivatives - Notional contra_2
Derivatives - Notional contract amounts of derivatives held for hedging purposes by product type (Details) number in Millions, $ in Millions | Jun. 30, 2022 USD ($) | Jun. 30, 2022 | Dec. 31, 2021 USD ($) | Dec. 31, 2021 |
Disclosure of detailed information about hedging instruments [line items] | ||||
Notional | 276,518 | 206,760 | ||
Cash flow hedges | ||||
Disclosure of detailed information about hedging instruments [line items] | ||||
Notional | 112,823 | 90,295 | ||
Fair value hedges | ||||
Disclosure of detailed information about hedging instruments [line items] | ||||
Notional | 137,238 | 90,560 | ||
Hedges of net investment in foreign operations | ||||
Disclosure of detailed information about hedging instruments [line items] | ||||
Notional | 26,457 | 25,905 | ||
Foreign exchange | ||||
Disclosure of detailed information about hedging instruments [line items] | ||||
Notional | 38,611 | 43,839 | ||
Foreign exchange | Cash flow hedges | ||||
Disclosure of detailed information about hedging instruments [line items] | ||||
Notional | 12,150 | 17,930 | ||
Foreign exchange | Fair value hedges | ||||
Disclosure of detailed information about hedging instruments [line items] | ||||
Notional | 4 | 4 | ||
Interest rate | ||||
Disclosure of detailed information about hedging instruments [line items] | ||||
Notional | 237,907 | 237,907 | 162,921 | 162,921 |
Interest rate | Cash flow hedges | ||||
Disclosure of detailed information about hedging instruments [line items] | ||||
Notional | 100,673 | 100,673 | 72,365 | 72,365 |
Interest rate | Fair value hedges | ||||
Disclosure of detailed information about hedging instruments [line items] | ||||
Notional | 137,234 | 137,234 | 90,556 | 90,556 |
Derivatives - Hedging instrumen
Derivatives - Hedging instrument impacted by Ibor reform (Details) number in Millions, $ in Millions | Jun. 30, 2022 USD ($) | Jun. 30, 2022 | Dec. 31, 2021 USD ($) | Dec. 31, 2021 |
Disclosure of detailed information about hedging instruments [line items] | ||||
Notional | 276,518 | 206,760 | ||
Interest rate | ||||
Disclosure of detailed information about hedging instruments [line items] | ||||
Notional | 237,907 | 237,907 | 162,921 | 162,921 |
Fair value hedges | ||||
Disclosure of detailed information about hedging instruments [line items] | ||||
Notional | 137,238 | 90,560 | ||
Fair value hedges | Interest rate | ||||
Disclosure of detailed information about hedging instruments [line items] | ||||
Notional | 137,234 | 137,234 | 90,556 | 90,556 |
Cash flow hedges | ||||
Disclosure of detailed information about hedging instruments [line items] | ||||
Notional | 112,823 | 90,295 | ||
Cash flow hedges | Interest rate | ||||
Disclosure of detailed information about hedging instruments [line items] | ||||
Notional | 100,673 | 100,673 | 72,365 | 72,365 |
Impacted by Ibor reform | Interest rate | ||||
Disclosure of detailed information about hedging instruments [line items] | ||||
Notional | 54,958 | 48,004 | ||
Impacted by Ibor reform | Fair value hedges | Interest rate | ||||
Disclosure of detailed information about hedging instruments [line items] | ||||
Notional | 27,458 | 31,318 | ||
Impacted by Ibor reform | Cash flow hedges | Interest rate | ||||
Disclosure of detailed information about hedging instruments [line items] | ||||
Notional | 27,500 | 16,686 | ||
Not impacted by Ibor reform | Interest rate | ||||
Disclosure of detailed information about hedging instruments [line items] | ||||
Notional | 182,949 | 114,917 | ||
Not impacted by Ibor reform | Fair value hedges | Interest rate | ||||
Disclosure of detailed information about hedging instruments [line items] | ||||
Notional | 109,776 | 59,238 | ||
Not impacted by Ibor reform | Cash flow hedges | Interest rate | ||||
Disclosure of detailed information about hedging instruments [line items] | ||||
Notional | 73,173 | 55,679 | ||
€ | Impacted by Ibor reform | Interest rate | ||||
Disclosure of detailed information about hedging instruments [line items] | ||||
Notional | 15,436 | 14,132 | ||
€ | Impacted by Ibor reform | Fair value hedges | Interest rate | ||||
Disclosure of detailed information about hedging instruments [line items] | ||||
Notional | 9,094 | 6,178 | ||
€ | Impacted by Ibor reform | Fair value hedges | Interest rate | Euro Interbank Offered Rate (EURIBOR) | ||||
Disclosure of detailed information about hedging instruments [line items] | ||||
Notional | 9,094 | 6,178 | ||
€ | Impacted by Ibor reform | Cash flow hedges | Interest rate | ||||
Disclosure of detailed information about hedging instruments [line items] | ||||
Notional | 6,342 | 7,954 | ||
€ | Impacted by Ibor reform | Cash flow hedges | Interest rate | Euro Interbank Offered Rate (EURIBOR) | ||||
Disclosure of detailed information about hedging instruments [line items] | ||||
Notional | 6,342 | 7,954 | ||
£ | Impacted by Ibor reform | Interest rate | ||||
Disclosure of detailed information about hedging instruments [line items] | ||||
Notional | 0 | 0 | ||
£ | Impacted by Ibor reform | Fair value hedges | Interest rate | ||||
Disclosure of detailed information about hedging instruments [line items] | ||||
Notional | 0 | 0 | ||
£ | Impacted by Ibor reform | Cash flow hedges | Interest rate | ||||
Disclosure of detailed information about hedging instruments [line items] | ||||
Notional | 0 | 0 | ||
$ | Impacted by Ibor reform | Interest rate | ||||
Disclosure of detailed information about hedging instruments [line items] | ||||
Notional | 8,003 | 18,625 | ||
$ | Impacted by Ibor reform | Fair value hedges | Interest rate | ||||
Disclosure of detailed information about hedging instruments [line items] | ||||
Notional | 7,903 | 18,525 | ||
$ | Impacted by Ibor reform | Cash flow hedges | Interest rate | ||||
Disclosure of detailed information about hedging instruments [line items] | ||||
Notional | 100 | 100 | ||
Other | Impacted by Ibor reform | Interest rate | ||||
Disclosure of detailed information about hedging instruments [line items] | ||||
Notional | 31,519 | 15,247 | ||
Other | Impacted by Ibor reform | Fair value hedges | Interest rate | ||||
Disclosure of detailed information about hedging instruments [line items] | ||||
Notional | 10,461 | 6,615 | ||
Other | Impacted by Ibor reform | Cash flow hedges | Interest rate | ||||
Disclosure of detailed information about hedging instruments [line items] | ||||
Notional | 21,058 | 8,632 |
Financial investments - Carryin
Financial investments - Carrying amount of financial investments (Details) - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Financial investments measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 276,577 | $ 348,972 |
Financial investments measured at fair value through other comprehensive income | – treasury and other eligible bills | ||
Disclosure of financial assets [line items] | ||
Financial assets | 59,602 | 100,158 |
Financial investments measured at fair value through other comprehensive income | – debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 215,163 | 246,998 |
Financial investments measured at fair value through other comprehensive income | – equity securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,812 | 1,770 |
Financial investments measured at fair value through other comprehensive income | – other instruments | ||
Disclosure of financial assets [line items] | ||
Financial assets | 0 | 46 |
Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | 154,219 | 97,302 |
Debt instruments measured at amortised cost | – treasury and other eligible bills | ||
Disclosure of financial assets [line items] | ||
Financial assets | 55,392 | 21,634 |
Debt instruments measured at amortised cost | – debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 98,827 | 75,668 |
Financial investments | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 430,796 | $ 446,274 |
Interests in associates and j_3
Interests in associates and joint ventures - Associates and Joint Ventures Commentary (Details) - USD ($) | 6 Months Ended | |
Jun. 30, 2022 | Dec. 31, 2021 | |
Disclosure of associates [line items] | ||
Interests in associates and joint ventures | $ 29,446,000,000 | $ 29,609,000,000 |
Bank of Communications Co., Limited | ||
Disclosure of associates [line items] | ||
Investment's fair value below carrying amount, period | 10 years | |
Impairment loss | $ 0 | |
Decrease in difference between VIU and carrying value | $ 500,000,000 |
Interests in associates and j_4
Interests in associates and joint ventures - Principal associates of HSBC (Details) - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Bank of Communications Co., Limited | ||
Disclosure of associates [line items] | ||
Carrying amount | $ 23,559 | $ 23,616 |
Fair value | 9,764 | 8,537 |
The Saudi British Bank | ||
Disclosure of associates [line items] | ||
Carrying amount | 4,472 | 4,426 |
Fair value | $ 6,910 | $ 5,599 |
Interests in associates and j_5
Interests in associates and joint ventures - Impairment testing (Details) - BoCom - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Disclosure of associates [line items] | ||
VIU | $ 24,300 | $ 24,800 |
Carrying value | 23,559 | 23,616 |
Fair value | $ 9,764 | $ 8,537 |
Interests in associates and j_6
Interests in associates and joint ventures - Key assumptions in value in use calculation (Details) | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | |
Operating income growth rate | |||
Disclosure of associates [line items] | |||
Changes to key assumption to reduce headroom to nil | (0.31%) | ||
Long-term effective tax rate | |||
Disclosure of associates [line items] | |||
Changes to key assumption to reduce headroom to nil | 2.03% | ||
Bank of Communications Co., Limited | |||
Disclosure of associates [line items] | |||
Long-term profit growth rate | 3% | 3% | |
Long-term asset growth rate | 3% | 3% | |
Discount rate | 10.03% | 10.03% | |
Expected credit losses as a percentage of customer advances in the long term | 0.97% | 0.97% | |
Effective tax rate in the long-term | 15% | 15% | |
Capital adequacy ratio | 12.50% | 12.50% | |
Tier 1 capital adequacy ratio | 9.50% | 9.50% | |
Bank of Communications Co., Limited | Long-term profit growth rate | |||
Disclosure of associates [line items] | |||
Changes to key assumption to reduce headroom to nil | (0.17%) | ||
Bank of Communications Co., Limited | Long-term asset growth rate | |||
Disclosure of associates [line items] | |||
Changes to key assumption to reduce headroom to nil | 0.15% | ||
Bank of Communications Co., Limited | Discount rate | |||
Disclosure of associates [line items] | |||
Changes to key assumption to reduce headroom to nil | 0.23% | ||
Bank of Communications Co., Limited | Expected credit losses as a percentage of customer advances | |||
Disclosure of associates [line items] | |||
Changes to key assumption to reduce headroom to nil | 0.02% | ||
Bank of Communications Co., Limited | Risk-weighted assets as a percentage of total assets | |||
Disclosure of associates [line items] | |||
Changes to key assumption to reduce headroom to nil | 1.22% | ||
Bank of Communications Co., Limited | Cost-income ratio | |||
Disclosure of associates [line items] | |||
Changes to key assumption to reduce headroom to nil | 0.70% | ||
Bank of Communications Co., Limited | Capital requirements – capital adequacy ratio | |||
Disclosure of associates [line items] | |||
Changes to key assumption to reduce headroom to nil | 0.25% | ||
Bank of Communications Co., Limited | Capital requirements – tier 1 capital adequacy ratio | |||
Disclosure of associates [line items] | |||
Changes to key assumption to reduce headroom to nil | 1.69% | ||
Bank of Communications Co., Limited | Minimum | |||
Disclosure of associates [line items] | |||
Discount rate | 8.20% | 8.70% | |
CAPM Rate | 9.90% | 9.90% | |
Expected credit losses as a percentage of customer advances in the short to medium term | 0.99% | 0.98% | |
Risk-weighted assets as a percentage of total assets | 61% | 61% | |
Operating income ratio | 4.60% | 5.10% | |
Cost-income ratio | 35.50% | 35.50% | |
Effective tax rate in the short to medium-term | 7.60% | 6.80% | |
Bank of Communications Co., Limited | Maximum | |||
Disclosure of associates [line items] | |||
Discount rate | 10.20% | 10.10% | |
CAPM Rate | 13.50% | 13.50% | |
Expected credit losses as a percentage of customer advances in the short to medium term | 1.15% | 1.12% | |
Risk-weighted assets as a percentage of total assets | 63.20% | 62.40% | |
Operating income ratio | 7.30% | 6.20% | |
Cost-income ratio | 35.80% | 36.10% | |
Effective tax rate in the short to medium-term | 15% | 15% | |
Risk-weighted assets as a percentage of total assets | Bank of Communications Co., Limited | |||
Disclosure of associates [line items] | |||
Risk-weighted assets as a percentage of total assets | 61% | 61% |
Interests in associates and j_7
Interests in associates and joint ventures - Sensitivity of VIU (Details) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2022 | Dec. 31, 2021 | |
Bank of Communications Co., Limited | ||
Disclosure of associates [line items] | ||
Increase (decrease) in discount rate | (0.50%) | |
Fair value of investments in associates for which there are quoted market prices | $ 9,764 | $ 8,537 |
Carrying amount | 23,559 | 23,616 |
Bank of Communications Co., Limited | Minimum | ||
Disclosure of associates [line items] | ||
Value in use of investments in associates after reasonably possible changes in key assumptions | 18,500 | 19,000 |
Bank of Communications Co., Limited | Maximum | ||
Disclosure of associates [line items] | ||
Value in use of investments in associates after reasonably possible changes in key assumptions | $ 29,000 | $ 29,300 |
Bank of Communications Co., Limited | Long-term profit growth rate | ||
Disclosure of associates [line items] | ||
Change in bps due to reasonably possible favourable changes in key assumptions | 0.82% | 0.87% |
Change in VIU due to reasonably possible favourable changes in key assumptions | $ 4,000 | $ 4,200 |
VIU after reasonably possible favourable changes in key assumptions | $ 28,300 | $ 29,000 |
Change in bps due to reasonably possible unfavourable changes in key assumptions | (0.75%) | (0.69%) |
Change in VIU due to reasonably possible unfavourable changes in key assumptions | $ (2,900) | $ (2,700) |
VIU after reasonably possible unfavourable changes in key assumptions | $ 21,400 | $ 22,100 |
Bank of Communications Co., Limited | Long-term asset growth rate | ||
Disclosure of associates [line items] | ||
Change in bps due to reasonably possible favourable changes in key assumptions | (0.75%) | (0.69%) |
Change in VIU due to reasonably possible favourable changes in key assumptions | $ 3,300 | $ 2,900 |
VIU after reasonably possible favourable changes in key assumptions | $ 27,600 | $ 27,700 |
Change in bps due to reasonably possible unfavourable changes in key assumptions | 0.82% | 0.87% |
Change in VIU due to reasonably possible unfavourable changes in key assumptions | $ (4,500) | $ (4,700) |
VIU after reasonably possible unfavourable changes in key assumptions | $ 19,800 | $ 20,100 |
Bank of Communications Co., Limited | Discount rate | ||
Disclosure of associates [line items] | ||
Change in bps due to reasonably possible favourable changes in key assumptions | (1.83%) | (1.33%) |
Change in VIU due to reasonably possible favourable changes in key assumptions | $ 8,000 | $ 5,400 |
VIU after reasonably possible favourable changes in key assumptions | $ 32,300 | $ 30,200 |
Change in bps due to reasonably possible unfavourable changes in key assumptions | 2.07% | 2.07% |
Change in VIU due to reasonably possible unfavourable changes in key assumptions | $ (5,200) | $ (5,300) |
VIU after reasonably possible unfavourable changes in key assumptions | 19,100 | 19,500 |
Bank of Communications Co., Limited | 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 | 1,600 | 1,500 |
VIU after reasonably possible favourable changes in key assumptions | 25,900 | 26,300 |
Change in VIU due to reasonably possible unfavourable changes in key assumptions | (2,800) | (2,700) |
VIU after reasonably possible unfavourable changes in key assumptions | $ 21,500 | $ 22,100 |
Bank of Communications Co., Limited | 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 | 1.03% | 1.03% |
Change in bps due to reasonably possible unfavourable changes in key assumptions | 1.23% | 1.21% |
Bank of Communications Co., Limited | 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 | 0.91% | 0.91% |
Change in bps due to reasonably possible unfavourable changes in key assumptions | 1.05% | 1.05% |
Bank of Communications Co., Limited | 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 | (1.10%) | (1.11%) |
Change in VIU due to reasonably possible favourable changes in key assumptions | $ 100 | $ 200 |
VIU after reasonably possible favourable changes in key assumptions | $ 24,400 | $ 25,000 |
Change in bps due to reasonably possible unfavourable changes in key assumptions | 2.47% | 2.80% |
Change in VIU due to reasonably possible unfavourable changes in key assumptions | $ (2,100) | $ (2,100) |
VIU after reasonably possible unfavourable changes in key assumptions | $ 22,200 | $ 22,700 |
Bank of Communications Co., Limited | Operating income growth rate | ||
Disclosure of associates [line items] | ||
Change in bps due to reasonably possible favourable changes in key assumptions | 0.51% | 0.37% |
Change in VIU due to reasonably possible favourable changes in key assumptions | $ 1,200 | $ 1,000 |
VIU after reasonably possible favourable changes in key assumptions | $ 25,500 | $ 25,800 |
Change in bps due to reasonably possible unfavourable changes in key assumptions | (0.69%) | (0.58%) |
Change in VIU due to reasonably possible unfavourable changes in key assumptions | $ (1,700) | $ (1,800) |
VIU after reasonably possible unfavourable changes in key assumptions | $ 22,600 | $ 23,000 |
Bank of Communications Co., Limited | Cost-income ratio | ||
Disclosure of associates [line items] | ||
Change in bps due to reasonably possible favourable changes in key assumptions | (1.13%) | (1.52%) |
Change in VIU due to reasonably possible favourable changes in key assumptions | $ 1,100 | $ 1,700 |
VIU after reasonably possible favourable changes in key assumptions | $ 25,400 | $ 26,500 |
Change in bps due to reasonably possible unfavourable changes in key assumptions | 1.88% | 1.74% |
Change in VIU due to reasonably possible unfavourable changes in key assumptions | $ (2,000) | $ (1,700) |
VIU after reasonably possible unfavourable changes in key assumptions | $ 22,300 | $ 23,100 |
Bank of Communications Co., Limited | Long-term effective tax rate | ||
Disclosure of associates [line items] | ||
Change in bps due to reasonably possible favourable changes in key assumptions | (4.26%) | (1.04%) |
Change in VIU due to reasonably possible favourable changes in key assumptions | $ 1,500 | $ 300 |
VIU after reasonably possible favourable changes in key assumptions | $ 25,800 | $ 25,100 |
Change in bps due to reasonably possible unfavourable changes in key assumptions | 10% | 10% |
Change in VIU due to reasonably possible unfavourable changes in key assumptions | $ (3,600) | $ (3,600) |
VIU after reasonably possible unfavourable changes in key assumptions | $ 20,700 | $ 21,200 |
Bank of Communications Co., Limited | Capital requirements – capital adequacy ratio | ||
Disclosure of associates [line items] | ||
Change in bps due to reasonably possible favourable changes in key assumptions | 0% | 0% |
Change in VIU due to reasonably possible favourable changes in key assumptions | $ 0 | $ 0 |
VIU after reasonably possible favourable changes in key assumptions | $ 24,300 | $ 24,800 |
Change in bps due to reasonably possible unfavourable changes in key assumptions | 2.74% | 3.25% |
Change in VIU due to reasonably possible unfavourable changes in key assumptions | $ (8,800) | $ (10,000) |
VIU after reasonably possible unfavourable changes in key assumptions | $ 15,500 | $ 14,800 |
Bank of Communications Co., Limited | 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% | 0% |
Change in VIU due to reasonably possible favourable changes in key assumptions | $ 0 | $ 0 |
VIU after reasonably possible favourable changes in key assumptions | $ 24,300 | $ 24,800 |
Change in bps due to reasonably possible unfavourable changes in key assumptions | 3.04% | 3.64% |
Change in VIU due to reasonably possible unfavourable changes in key assumptions | $ (5,200) | $ (6,500) |
VIU after reasonably possible unfavourable changes in key assumptions | $ 19,100 | 18,300 |
The Saudi British Bank | ||
Disclosure of associates [line items] | ||
Proportion of ownership interest in associate | 31% | |
Fair value of investments in associates for which there are quoted market prices | $ 6,910 | 5,599 |
Carrying amount | $ 4,472 | $ 4,426 |
Provisions - Rollforward of pro
Provisions - Rollforward of provisions (Details) $ in Millions | 6 Months Ended |
Jun. 30, 2022 USD ($) | |
Reconciliation of changes in other provisions [abstract] | |
Other provisions, beginning balance | $ 2,566 |
Other provisions, ending balance | 1,900 |
Provisions (excluding contractual commitments) | |
Reconciliation of changes in other provisions [abstract] | |
Other provisions, beginning balance | 1,946 |
Additions | 353 |
Amounts utilised | (603) |
Unused amounts reversed | (219) |
Exchange and other movements | (87) |
Other provisions, ending balance | 1,390 |
Restructuring costs | |
Reconciliation of changes in other provisions [abstract] | |
Other provisions, beginning balance | 383 |
Additions | 105 |
Amounts utilised | (147) |
Unused amounts reversed | (41) |
Exchange and other movements | 12 |
Other provisions, ending balance | 312 |
Legal proceedings and regulatory matters | |
Reconciliation of changes in other provisions [abstract] | |
Other provisions, beginning balance | 619 |
Additions | 110 |
Amounts utilised | (275) |
Unused amounts reversed | (74) |
Exchange and other movements | (10) |
Other provisions, ending balance | 370 |
Customer remediation | |
Reconciliation of changes in other provisions [abstract] | |
Other provisions, beginning balance | 386 |
Additions | 34 |
Amounts utilised | (49) |
Unused amounts reversed | (38) |
Exchange and other movements | (34) |
Other provisions, ending balance | 299 |
Other provisions | |
Reconciliation of changes in other provisions [abstract] | |
Other provisions, beginning balance | 558 |
Additions | 104 |
Amounts utilised | (132) |
Unused amounts reversed | (66) |
Exchange and other movements | (55) |
Other provisions, ending balance | 409 |
Contractual commitments | |
Reconciliation of changes in other provisions [abstract] | |
Other provisions, beginning balance | 620 |
Net change in expected credit loss provision and other movements | 110 |
Other provisions, ending balance | $ 510 |
Provisions - Payment protection
Provisions - Payment protection insurance (Details) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2022 | Dec. 31, 2021 | |
Disclosure of other provisions [line items] | ||
Provisions | $ 1,900 | $ 2,566 |
Insurance provision | ||
Disclosure of other provisions [line items] | ||
Provisions | 123 | 173 |
Provision used, other provisions | 18 | |
Net change in expected credit loss provision and other movements | 16 | |
Increase (decrease) through net exchange differences, other provisions | 16 | |
Redress payable | ||
Disclosure of other provisions [line items] | ||
Provisions | 83 | $ 87 |
Provision used, other provisions | 14 | |
Increase in existing provisions, other provisions | 19 | |
Increase (decrease) through net exchange differences, other provisions | $ 9 |
Contingent liabilities, contr_3
Contingent liabilities, contractual commitments, and guarantees - Summary of contingent liabilities, guarantees, and commitments (Details) - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Disclosure of contingent liabilities [line items] | ||
Guarantees and contingent liabilities: | $ 102,505 | $ 114,187 |
Commitments | 826,429 | 815,474 |
Gross carrying/ nominal amount | ||
Disclosure of contingent liabilities [line items] | ||
Commitments to which the impairment requirements in IFRS 9 are applied where HSBC has become party to an irrevocable commitment | 650,677 | 655,432 |
– documentary credits and short-term trade-related transactions | ||
Disclosure of contingent liabilities [line items] | ||
Commitments | 9,972 | 8,827 |
– forward asset purchases and forward deposits placed | ||
Disclosure of contingent liabilities [line items] | ||
Commitments | 76,144 | 47,184 |
– standby facilities, credit lines and other commitments to lend | ||
Disclosure of contingent liabilities [line items] | ||
Commitments | 740,313 | 759,463 |
Loans and other credit-related commitments | ||
Disclosure of contingent liabilities [line items] | ||
Commitments to which the impairment requirements in IFRS 9 are applied where HSBC has become party to an irrevocable commitment | 632,754 | 627,258 |
Loans and other credit-related commitments | Gross carrying/ nominal amount | ||
Disclosure of contingent liabilities [line items] | ||
Commitments to which the impairment requirements in IFRS 9 are applied where HSBC has become party to an irrevocable commitment | 633,091 | 627,637 |
– financial guarantees | ||
Disclosure of contingent liabilities [line items] | ||
Guarantees and contingent liabilities: | 17,586 | 27,795 |
– performance and other guarantees | ||
Disclosure of contingent liabilities [line items] | ||
Guarantees and contingent liabilities: | 84,103 | 85,534 |
– other contingent liabilities | ||
Disclosure of contingent liabilities [line items] | ||
Guarantees and contingent liabilities: | $ 816 | $ 858 |
Legal proceedings and regulat_2
Legal proceedings and regulatory matters (Details) € in Millions, $ in Millions | 1 Months Ended | 5 Months Ended | 6 Months Ended | 7 Months Ended | 12 Months Ended | |||||
Dec. 31, 2021 EUR (€) | Jun. 30, 2021 | Jun. 30, 2020 financial_institution investorGroup claim | Dec. 31, 2016 | Apr. 30, 2016 action | Nov. 30, 2015 action | Jun. 30, 2022 USD ($) action claim lawsuit plaintiff | Jun. 30, 2019 complaint | Dec. 31, 2021 USD ($) hearing | Nov. 30, 2008 USD ($) | |
Disclosure of contingent liabilities [line items] | ||||||||||
Estimated financial effect of contingent liabilities | $ | $ 102,505 | $ 114,187 | ||||||||
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 | |||||||||
Madoff litigation | ||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||
Estimated financial effect of contingent liabilities | $ | $ 600 | |||||||||
Anti-money laundering and sanctions-related matters | New York | HSBC Holdings | ||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||
Number of pending claims | 9 | |||||||||
Number of claims dismissed | 5 | |||||||||
Number of claims on appeal | 2 | |||||||||
Number of claims subject to appeal | 3 | |||||||||
Number of remaining actions at a very early stage | 4 | |||||||||
Benchmark rate litigation | ||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||
Infringement period | 1 month | |||||||||
% Increase estimated financial effect of contingent liabilities | 5% | |||||||||
Number of groups of plaintiffs | plaintiff | 5 | |||||||||
Foreign exchange rate investigations and litigation | ||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||
Number of groups of plaintiffs | lawsuit | 2 | |||||||||
Fines and penalties | € | € 174.3 | |||||||||
Number of financial institutions | financial_institution | 28 | |||||||||
Precious metals fix-related investigations and litigation | ||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||
Number of lawsuits/claims filed | 2 | |||||||||
Film finance litigation | HSBC Private Bank (UK) Limited | ||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||
Number of groups of plaintiffs | investorGroup | 2 | |||||||||
Number of lawsuits/claims filed | complaint | 2 | |||||||||
Number of new claims filed | 2 | 2 | ||||||||
Other regulatory investigations, reviews and litigation | ||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||
Number of pending claims | claim | 2 | |||||||||
Cayman islands litigation | ||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||
Number of hearings | hearing | 2 |
Transactions with related par_2
Transactions with related parties (Details) | 6 Months Ended |
Jun. 30, 2022 change | |
Related Party [Abstract] | |
Changes in related party transactions | 0 |
Business acquisitions and dis_2
Business acquisitions and disposals (Details) activeFolio in Millions, $ in Millions | 1 Months Ended | 3 Months Ended | 6 Months Ended | ||||||||
Feb. 11, 2022 USD ($) | Jan. 28, 2022 | Feb. 28, 2022 USD ($) | Dec. 31, 2021 USD ($) | Mar. 31, 2022 | Jun. 30, 2022 USD ($) | Dec. 31, 2021 USD ($) | Jun. 30, 2021 USD ($) | Jun. 23, 2022 | Dec. 23, 2021 USD ($) activeFolio | May 26, 2021 branch | |
Disclosure of detailed information about business combination [line items] | |||||||||||
Total external assets | $ 2,957,939 | $ 2,985,420 | $ 2,957,939 | ||||||||
Gain recognised in bargain purchase transaction | 71 | 0 | $ 0 | ||||||||
Goodwill impairment | 0 | $ 587 | $ 0 | ||||||||
Non-current assets or disposal groups classified as held for sale | 25,600 | ||||||||||
Forecast | |||||||||||
Disclosure of detailed information about business combination [line items] | |||||||||||
Net gain on sale of disposal groups | (2,100) | ||||||||||
Goodwill impairment | 500 | ||||||||||
Retail | |||||||||||
Disclosure of detailed information about business combination [line items] | |||||||||||
Net gain on sale of disposal groups | $ 100 | ||||||||||
Retail | GREECE | |||||||||||
Disclosure of detailed information about business combination [line items] | |||||||||||
Gain (loss) recognised on measurement to fair value less costs to sell or on disposal of assets or disposal groups constituting discontinued operation | 100 | ||||||||||
Minimum | Retail | |||||||||||
Disclosure of detailed information about business combination [line items] | |||||||||||
Number of branches | branch | 20 | ||||||||||
Maximum | Retail | |||||||||||
Disclosure of detailed information about business combination [line items] | |||||||||||
Number of branches | branch | 25 | ||||||||||
Number of branches held for sale | branch | 90 | ||||||||||
Customer accounts | Retail | |||||||||||
Disclosure of detailed information about business combination [line items] | |||||||||||
Liabilities included in disposal groups classified as held for sale | 6,900 | ||||||||||
Customer accounts | Retail | GREECE | |||||||||||
Disclosure of detailed information about business combination [line items] | |||||||||||
Liabilities included in disposal groups classified as held for sale | 2,300 | ||||||||||
Loans and advances to customers | Retail | |||||||||||
Disclosure of detailed information about business combination [line items] | |||||||||||
Non-current assets or disposal groups classified as held for sale | 2,100 | ||||||||||
Loans and advances to customers | Retail | GREECE | |||||||||||
Disclosure of detailed information about business combination [line items] | |||||||||||
Non-current assets or disposal groups classified as held for sale | 400 | ||||||||||
HSBC Asset Management (India) Private Ltd | L&T Finance Holdings Limited | |||||||||||
Disclosure of detailed information about business combination [line items] | |||||||||||
Consideration transferred, acquisition-date fair value | $ 400 | ||||||||||
Number of active folios | activeFolio | 2.4 | ||||||||||
HSBC Insurance (Asia-Pacific) Holdings Limited | |||||||||||
Disclosure of detailed information about business combination [line items] | |||||||||||
Proportion of ownership interest in associate | 26% | ||||||||||
HSBC Insurance (Asia-Pacific) Holdings Limited | AXA Insurance Pte Limited | |||||||||||
Disclosure of detailed information about business combination [line items] | |||||||||||
Consideration transferred, acquisition-date fair value | $ 500 | ||||||||||
Percentage of voting equity interests acquired | 100% | ||||||||||
Gain recognised in bargain purchase transaction | $ 100 | ||||||||||
Assets recognised as of acquisition date | 4,500 | ||||||||||
Liabilities recognised as of acquisition date | $ 3,900 | ||||||||||
HSBC Insurance (Asia-Pacific) Holdings Limited | Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited | |||||||||||
Disclosure of detailed information about business combination [line items] | |||||||||||
Proposed proportion of ownership interest in associate | 49% | ||||||||||
Hongkong And Shanghai Banking Corporation | HSBC Qianhai Securities Limited | |||||||||||
Disclosure of detailed information about business combination [line items] | |||||||||||
Proportion of ownership interest in subsidiary | 51% | 90% | |||||||||
HSBC Insurance (Asia) Limited | HSBC Life Insurance Company Limited | |||||||||||
Disclosure of detailed information about business combination [line items] | |||||||||||
Percentage of voting equity interests acquired | 50% | ||||||||||
HSBC Continental Europe | |||||||||||
Disclosure of detailed information about business combination [line items] | |||||||||||
Tax effect of expense not deductible in determining taxable profit (tax loss) | $ 400 | ||||||||||
HSBC SFH (France) | HSBC Continental Europe | |||||||||||
Disclosure of detailed information about business combination [line items] | |||||||||||
Proportion of ownership interest in subsidiary | 100% | ||||||||||
Crédit Logement | HSBC Continental Europe | |||||||||||
Disclosure of detailed information about business combination [line items] | |||||||||||
Proportion of ownership interest in subsidiary | 3% | ||||||||||
Investment funds [member] | HSBC Asset Management (India) Private Ltd | L&T Finance Holdings Limited | |||||||||||
Disclosure of detailed information about business combination [line items] | |||||||||||
Total external assets | $ 8,900 |
Report of the directors finan_3
Report of the directors financial review risk report - Credit risk in the first half of 2021 (Details) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2022 | Dec. 31, 2021 | |
Russia | ||
Disclosure of financial assets [line items] | ||
Credit exposure | $ 1,200 | |
Loans and advances to customers | ||
Disclosure of financial assets [line items] | ||
Financial assets | (1,028,356) | $ (1,045,814) |
Loans and advances to banks | ||
Disclosure of financial assets [line items] | ||
Financial assets | (96,429) | (83,136) |
Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | (154,219) | (97,302) |
Debt instruments measured at amortised cost | Loans and advances to customers | ||
Disclosure of financial assets [line items] | ||
Financial assets | (1,028,356) | (1,045,814) |
Debt instruments measured at amortised cost | Loans and advances to banks | ||
Disclosure of financial assets [line items] | ||
Financial assets | (96,429) | (83,136) |
Debt instruments measured at amortised cost | Debt securities in issue | ||
Disclosure of financial assets [line items] | ||
Financial assets | (98,827) | (75,668) |
Debt instruments at FVOCI | ||
Disclosure of financial assets [line items] | ||
Financial assets | (284,232) | (345,173) |
Gross carrying/ nominal amount | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | 650,677 | 655,432 |
Gross carrying/ nominal amount | Russia | ||
Disclosure of financial assets [line items] | ||
Credit exposure | 1,300 | |
Gross carrying/ nominal amount | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | (2,085,618) | (2,020,735) |
Gross carrying/ nominal amount | Debt instruments measured at amortised cost | Loans and advances to customers and banks | ||
Disclosure of financial assets [line items] | ||
Financial assets | (1,136,000) | |
Increase in financial assets | 4,800 | |
Increase (decrease) through foreign exchange, financial assets | 54,700 | |
Gross carrying/ nominal amount | Debt instruments measured at amortised cost | Loans and advances to customers | ||
Disclosure of financial assets [line items] | ||
Financial assets | (1,039,130) | (1,057,231) |
Gross carrying/ nominal amount | Debt instruments measured at amortised cost | Loans and advances to customers | Wholesale | ||
Disclosure of financial assets [line items] | ||
Increase in financial assets | (22,300) | |
Gross carrying/ nominal amount | Debt instruments measured at amortised cost | Loans and advances to customers | Wholesale | US | ||
Disclosure of financial assets [line items] | ||
Increase in financial assets | (4,400) | |
Gross carrying/ nominal amount | Debt instruments measured at amortised cost | Loans and advances to customers | Wholesale | UK | ||
Disclosure of financial assets [line items] | ||
Increase in financial assets | (3,600) | |
Gross carrying/ nominal amount | Debt instruments measured at amortised cost | Loans and advances to customers | Wholesale | Canada | ||
Disclosure of financial assets [line items] | ||
Increase in financial assets | (3,500) | |
Gross carrying/ nominal amount | Debt instruments measured at amortised cost | Loans and advances to customers | Wholesale | India | ||
Disclosure of financial assets [line items] | ||
Increase in financial assets | (2,300) | |
Gross carrying/ nominal amount | Debt instruments measured at amortised cost | Loans and advances to customers | Wholesale | Japan | ||
Disclosure of financial assets [line items] | ||
Increase in financial assets | (1,800) | |
Gross carrying/ nominal amount | Debt instruments measured at amortised cost | Loans and advances to customers | Wholesale | Mainland China | ||
Disclosure of financial assets [line items] | ||
Increase in financial assets | (1,400) | |
Gross carrying/ nominal amount | Debt instruments measured at amortised cost | Loans and advances to customers | Wholesale | UAE | ||
Disclosure of financial assets [line items] | ||
Increase in financial assets | (1,100) | |
Gross carrying/ nominal amount | Debt instruments measured at amortised cost | Loans and advances to customers | Personal Lending | ||
Disclosure of financial assets [line items] | ||
Financial assets | (463,621) | (478,337) |
Increase in financial assets | (16,800) | |
Gross carrying/ nominal amount | Debt instruments measured at amortised cost | Loans and advances to customers | Personal Lending | Mortgages | ||
Disclosure of financial assets [line items] | ||
Increase in financial assets | (9,900) | |
Gross carrying/ nominal amount | Debt instruments measured at amortised cost | Loans and advances to customers | Personal Lending | – other personal | ||
Disclosure of financial assets [line items] | ||
Increase in financial assets | (900) | |
Gross carrying/ nominal amount | Debt instruments measured at amortised cost | Loans and advances to customers | Personal Lending | Other personal loans, unsecured | ||
Disclosure of financial assets [line items] | ||
Increase in financial assets | 800 | |
Gross carrying/ nominal amount | Debt instruments measured at amortised cost | Loans and advances to customers | Personal Lending | UK | Mortgages | ||
Disclosure of financial assets [line items] | ||
Increase in financial assets | (5,500) | |
Gross carrying/ nominal amount | Debt instruments measured at amortised cost | Loans and advances to customers | Personal Lending | Australia | Mortgages | ||
Disclosure of financial assets [line items] | ||
Increase in financial assets | (2,100) | |
Gross carrying/ nominal amount | Debt instruments measured at amortised cost | Loans and advances to customers | Personal Lending | Hong Kong | Mortgages | ||
Disclosure of financial assets [line items] | ||
Increase in financial assets | (1,500) | |
Gross carrying/ nominal amount | Debt instruments measured at amortised cost | Loans and advances to customers | Personal Lending | Hong Kong | – other personal | ||
Disclosure of financial assets [line items] | ||
Increase in financial assets | (1,500) | |
Gross carrying/ nominal amount | Debt instruments measured at amortised cost | Loans and advances to customers | Personal Lending | France | – other personal | ||
Disclosure of financial assets [line items] | ||
Increase in financial assets | (300) | |
Gross carrying/ nominal amount | Debt instruments measured at amortised cost | Loans and advances to banks | ||
Disclosure of financial assets [line items] | ||
Financial assets | (96,481) | (83,153) |
Increase in financial assets | (10,800) | |
Gross carrying/ nominal amount | Debt instruments at FVOCI | ||
Disclosure of financial assets [line items] | ||
Financial assets | (284,352) | (345,269) |
Gross carrying/ nominal amount | Debt instruments at FVOCI | Debt securities in issue | ||
Disclosure of financial assets [line items] | ||
Financial assets | (274,765) | (347,203) |
Allowance for ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | 11,600 | 12,200 |
Increase in financial assets | (600) | |
Increase (decrease) through foreign exchange, financial assets | 600 | |
Off-balance sheet commitments | (379) | (441) |
ECL income statement change for the period | 1,100 | |
Allowance for ECL | Russia | ||
Disclosure of financial assets [line items] | ||
Credit exposure | 100 | |
Allowance for ECL | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | 11,107 | 11,627 |
Allowance for ECL | Debt instruments measured at amortised cost | Loans and advances to customers | ||
Disclosure of financial assets [line items] | ||
Financial assets | 10,774 | 11,417 |
Increase in financial assets | (100) | |
Allowance for ECL | Debt instruments measured at amortised cost | Loans and advances to customers | Wholesale | ||
Disclosure of financial assets [line items] | ||
Increase in financial assets | (100) | |
ECL income statement change for the period | 600 | |
Allowance for ECL | Debt instruments measured at amortised cost | Loans and advances to customers | Wholesale | Non-credit impaired | ||
Disclosure of financial assets [line items] | ||
Increase in financial assets | (400) | |
Allowance for ECL | Debt instruments measured at amortised cost | Loans and advances to customers | Wholesale | Financial instruments credit-impaired | ||
Disclosure of financial assets [line items] | ||
Increase in financial assets | 300 | |
ECL income statement change for the period | 300 | |
Allowance for ECL | Debt instruments measured at amortised cost | Loans and advances to customers | Personal Lending | ||
Disclosure of financial assets [line items] | ||
Financial assets | 2,918 | 3,103 |
ECL income statement change for the period | 500 | |
Allowance for ECL | Debt instruments measured at amortised cost | Loans and advances to customers | Personal Lending | Non-credit impaired | ||
Disclosure of financial assets [line items] | ||
Increase in financial assets | 200 | |
Allowance for ECL | Debt instruments measured at amortised cost | Loans and advances to customers | Personal Lending | Financial instruments credit-impaired | ||
Disclosure of financial assets [line items] | ||
ECL income statement change for the period | 500 | |
Allowance for ECL | Debt instruments measured at amortised cost | Loans and advances to customers | Personal Lending | Credit impaired | ||
Disclosure of financial assets [line items] | ||
Increase in financial assets | (200) | |
Allowance for ECL | Debt instruments measured at amortised cost | Loans and advances to banks | ||
Disclosure of financial assets [line items] | ||
Financial assets | 52 | 17 |
Allowance for ECL | Debt instruments at FVOCI | ||
Disclosure of financial assets [line items] | ||
Financial assets | 120 | 96 |
Allowance for ECL | Debt instruments at FVOCI | Debt securities in issue | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 120 | $ 96 |
Report of the directors finan_4
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 | Jun. 30, 2022 | Dec. 31, 2021 |
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 2,724,809 | $ 2,664,099 |
Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | 154,219 | 97,302 |
Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | ||
Disclosure of financial assets [line items] | ||
Financial assets | 284,232 | 345,173 |
Loans and advances to customers at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,028,356 | 1,045,814 |
Loans and advances to customers at amortised cost | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,028,356 | 1,045,814 |
Loans and advances to banks at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | 96,429 | 83,136 |
Loans and advances to banks at amortised cost | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | 96,429 | 83,136 |
Other financial assets measured at amortised cost | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | 949,726 | 880,158 |
Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | 98,827 | 75,668 |
Gross carrying/ nominal amount | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | 650,677 | 655,432 |
Financial assets and off-balance sheet loan commitments | 2,736,295 | 2,676,167 |
Gross carrying/ nominal amount | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | 2,085,618 | 2,020,735 |
Gross carrying/ nominal amount | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | ||
Disclosure of financial assets [line items] | ||
Financial assets | 284,352 | 345,269 |
Gross carrying/ nominal amount | Loans and advances to customers at amortised cost | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,039,130 | 1,057,231 |
Gross carrying/ nominal amount | Loans and advances to banks at amortised cost | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | 96,481 | 83,153 |
Gross carrying/ nominal amount | Other financial assets measured at amortised cost | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | 950,007 | 880,351 |
Gross carrying/ nominal amount | – cash and balances at central banks | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | 363,613 | 403,022 |
Gross carrying/ nominal amount | – items in the course of collection from other banks | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | 8,073 | 4,136 |
Gross carrying/ nominal amount | – Hong Kong Government certificates of indebtedness | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | 43,866 | 42,578 |
Gross carrying/ nominal amount | Non-trading reverse purchase agreement commitments | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | 244,451 | 241,648 |
Gross carrying/ nominal amount | – financial investments | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | 154,294 | 97,364 |
Gross carrying/ nominal amount | Prepayments, accrued income and other assets | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | 135,710 | 91,603 |
Gross carrying/ nominal amount | Prepayments, accrued income and other assets | Debt instruments measured at amortised cost | Disposal groups classified as held for sale | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,918 | 2,424 |
Gross carrying/ nominal amount | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | ||
Disclosure of financial assets [line items] | ||
Financial assets | 274,765 | 347,203 |
Allowance for ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (11,600) | (12,200) |
Off-balance sheet commitments | (379) | (441) |
Financial assets and off-balance sheet loan commitments | (11,486) | (12,068) |
Allowance for ECL | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | (11,107) | (11,627) |
Allowance for ECL | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | ||
Disclosure of financial assets [line items] | ||
Financial assets | (120) | (96) |
Allowance for ECL | Loans and advances to customers at amortised cost | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | (10,774) | (11,417) |
Allowance for ECL | Loans and advances to banks at amortised cost | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | (52) | (17) |
Allowance for ECL | Other financial assets measured at amortised cost | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | (281) | (193) |
Allowance for ECL | – cash and balances at central banks | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | (5) | (4) |
Allowance for ECL | – items in the course of collection from other banks | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | 0 | 0 |
Allowance for ECL | – Hong Kong Government certificates of indebtedness | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | 0 | 0 |
Allowance for ECL | Non-trading reverse purchase agreement commitments | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | 0 | 0 |
Allowance for ECL | – financial investments | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | (75) | (62) |
Allowance for ECL | Prepayments, accrued income and other assets | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | (201) | (127) |
Allowance for ECL | Prepayments, accrued income and other assets | Debt instruments measured at amortised cost | Disposal groups classified as held for sale | ||
Disclosure of financial assets [line items] | ||
Financial assets | (133) | (39) |
Allowance for ECL | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | ||
Disclosure of financial assets [line items] | ||
Financial assets | (120) | (96) |
– personal | Gross carrying/ nominal amount | Loans and advances to customers at amortised cost | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | 463,621 | 478,337 |
– personal | Allowance for ECL | Loans and advances to customers at amortised cost | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | (2,918) | (3,103) |
– corporate and commercial | Gross carrying/ nominal amount | Loans and advances to customers at amortised cost | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | 509,566 | 513,539 |
– corporate and commercial | Allowance for ECL | Loans and advances to customers at amortised cost | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | (7,684) | (8,204) |
– non-bank financial institutions | Gross carrying/ nominal amount | Loans and advances to customers at amortised cost | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | 65,943 | 65,355 |
– non-bank financial institutions | Allowance for ECL | Loans and advances to customers at amortised cost | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | (172) | (110) |
Loans and other credit-related commitments | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | 632,754 | 627,258 |
Loans and other credit-related commitments | Gross carrying/ nominal amount | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | 633,091 | 627,637 |
Loans and other credit-related commitments | Allowance for ECL | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | (337) | (379) |
Loans and other credit-related commitments | – personal | Gross carrying/ nominal amount | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | 237,077 | 239,685 |
Loans and other credit-related commitments | – personal | Allowance for ECL | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | (30) | (39) |
Loans and other credit-related commitments | – corporate and commercial | Gross carrying/ nominal amount | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | 263,452 | 283,625 |
Loans and other credit-related commitments | – corporate and commercial | Allowance for ECL | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | (291) | (325) |
Loans and other credit-related commitments | – non-bank financial institutions | Gross carrying/ nominal amount | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | 132,562 | 104,327 |
Loans and other credit-related commitments | – non-bank financial institutions | Allowance for ECL | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | (16) | (15) |
Financial guarantees | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | 17,544 | 27,733 |
Financial guarantees | Gross carrying/ nominal amount | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | 17,586 | 27,795 |
Financial guarantees | Allowance for ECL | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | (42) | (62) |
Financial guarantees | – personal | Gross carrying/ nominal amount | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | 1,120 | 1,130 |
Financial guarantees | – personal | Allowance for ECL | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | 0 | 0 |
Financial guarantees | – corporate and commercial | Gross carrying/ nominal amount | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | 12,393 | 22,355 |
Financial guarantees | – corporate and commercial | Allowance for ECL | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | (41) | (58) |
Financial guarantees | – non-bank financial institutions | Gross carrying/ nominal amount | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | 4,073 | 4,310 |
Financial guarantees | – non-bank financial institutions | Allowance for ECL | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | $ (1) | $ (4) |
Report of the directors finan_5
Report of the directors financial review risk report - Measurement uncertainty and sensitivity analysis of ECL estimates (Details) $ in Billions | 6 Months Ended | 12 Months Ended |
Jun. 30, 2022 USD ($) economic_scenario | Dec. 31, 2021 USD ($) | |
Disclosure of financial assets [line items] | ||
Number of economic scenarios to calculate ECL | economic_scenario | 5 | |
Number of standard economic scenarios to calculate ECL | economic_scenario | 4 | |
Number of economic scenarios drawn from consensus forecasts and distributional estimates | economic_scenario | 3 | |
Allowance for ECL | ||
Disclosure of financial assets [line items] | ||
Increase (decrease) in financial assets | $ 0.6 | |
Allowance for ECL | Loans and advances to customers | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Increase (decrease) in financial assets | 0.1 | |
Allowance for ECL | Wholesale | ||
Disclosure of financial assets [line items] | ||
Increase (decrease) in financial assets | (0.8) | $ (1.2) |
Allowance for ECL | Retail | ||
Disclosure of financial assets [line items] | ||
Increase (decrease) in financial assets | $ (0.4) | $ (0.5) |
Report of the directors finan_6
Report of the directors financial review risk report - The consensus Central scenario (Details) | 6 Months Ended |
Jun. 30, 2022 $ / bbl | |
West Texas Intermediate Oil | |
Disclosure of financial assets [line items] | |
Oil and gas, average sale price (in USD per barrel) | 81 |
2023: Annual average growth rate | Inflation rate | |
Disclosure of financial assets [line items] | |
Forecast period | 2 years |
2023: Annual average growth rate | West Texas Intermediate Oil | |
Disclosure of financial assets [line items] | |
Oil and gas, average sale price (in USD per barrel) | 100 |
Within 18 months | Interest rate | |
Disclosure of financial assets [line items] | |
Forecast period | 18 months |
Consensus Central scenario ECL | |
Disclosure of financial assets [line items] | |
GDP growth rate, 5 year average | 2.80% |
Forecast period | 5 years |
Consensus Central scenario ECL | UK | |
Disclosure of financial assets [line items] | |
GDP growth rate, 5 year average | 1.60% |
Probability | 50% |
Unemployment rate, 5 year average | 4.10% |
House price growth, 5 year average | 3.30% |
Inflation rate, 5 year average | 3.20% |
Consensus Central scenario ECL | US | |
Disclosure of financial assets [line items] | |
GDP growth rate, 5 year average | 1.90% |
Probability | 60% |
Unemployment rate, 5 year average | 3.60% |
House price growth, 5 year average | 5.30% |
Inflation rate, 5 year average | 2.80% |
Consensus Central scenario ECL | Hong Kong | |
Disclosure of financial assets [line items] | |
GDP growth rate, 5 year average | 2.90% |
Probability | 55% |
Unemployment rate, 5 year average | 3.50% |
House price growth, 5 year average | 1.90% |
Inflation rate, 5 year average | 2.20% |
Consensus Central scenario ECL | Mainland China | |
Disclosure of financial assets [line items] | |
GDP growth rate, 5 year average | 4.90% |
Probability | 55% |
Unemployment rate, 5 year average | 3.70% |
House price growth, 5 year average | 3.20% |
Inflation rate, 5 year average | 2.40% |
Consensus Central scenario ECL | Canada | |
Disclosure of financial assets [line items] | |
GDP growth rate, 5 year average | 2.20% |
Probability | 60% |
Unemployment rate, 5 year average | 5.50% |
House price growth, 5 year average | 2.60% |
Inflation rate, 5 year average | 2.50% |
Consensus Central scenario ECL | France | |
Disclosure of financial assets [line items] | |
GDP growth rate, 5 year average | 1.50% |
Probability | 40% |
Unemployment rate, 5 year average | 7.30% |
House price growth, 5 year average | 3.90% |
Inflation rate, 5 year average | 2.30% |
Consensus Central scenario ECL | UAE | |
Disclosure of financial assets [line items] | |
GDP growth rate, 5 year average | 3.30% |
Probability | 65% |
Unemployment rate, 5 year average | 2.60% |
House price growth, 5 year average | 3.50% |
Inflation rate, 5 year average | 2.20% |
Consensus Central scenario ECL | Mexico | |
Disclosure of financial assets [line items] | |
GDP growth rate, 5 year average | 2.20% |
Probability | 60% |
Unemployment rate, 5 year average | 3.70% |
House price growth, 5 year average | 4.80% |
Inflation rate, 5 year average | 4% |
Consensus Central scenario ECL | Minimum | |
Disclosure of financial assets [line items] | |
Probability | 40% |
Consensus Central scenario ECL | Maximum | |
Disclosure of financial assets [line items] | |
Probability | 65% |
Consensus Central scenario ECL | 2022: Annual average growth rate | |
Disclosure of financial assets [line items] | |
GDP growth rate | 3.30% |
Consensus Central scenario ECL | 2022: Annual average growth rate | UK | |
Disclosure of financial assets [line items] | |
GDP growth rate | 3.70% |
Unemployment rate | 4% |
House price growth | 9.20% |
Inflation rate | 8.30% |
Consensus Central scenario ECL | 2022: Annual average growth rate | US | |
Disclosure of financial assets [line items] | |
GDP growth rate | 2.80% |
Unemployment rate | 3.60% |
House price growth | 14.70% |
Inflation rate | 7% |
Consensus Central scenario ECL | 2022: Annual average growth rate | Hong Kong | |
Disclosure of financial assets [line items] | |
GDP growth rate | 1.10% |
Unemployment rate | 4.40% |
House price growth | (1.20%) |
Inflation rate | 2.30% |
Consensus Central scenario ECL | 2022: Annual average growth rate | Mainland China | |
Disclosure of financial assets [line items] | |
GDP growth rate | 4.50% |
Unemployment rate | 3.80% |
House price growth | (0.50%) |
Inflation rate | 2.20% |
Consensus Central scenario ECL | 2022: Annual average growth rate | Canada | |
Disclosure of financial assets [line items] | |
GDP growth rate | 4% |
Unemployment rate | 5.50% |
House price growth | 18.90% |
Inflation rate | 5.40% |
Consensus Central scenario ECL | 2022: Annual average growth rate | France | |
Disclosure of financial assets [line items] | |
GDP growth rate | 2.90% |
Unemployment rate | 7.50% |
House price growth | 5.80% |
Inflation rate | 4.50% |
Consensus Central scenario ECL | 2022: Annual average growth rate | UAE | |
Disclosure of financial assets [line items] | |
GDP growth rate | 5.30% |
Unemployment rate | 3% |
House price growth | 9.40% |
Inflation rate | 3.20% |
Consensus Central scenario ECL | 2022: Annual average growth rate | Mexico | |
Disclosure of financial assets [line items] | |
GDP growth rate | 1.80% |
Unemployment rate | 3.80% |
House price growth | 7.20% |
Inflation rate | 6.80% |
Consensus Central scenario ECL | 2023: Annual average growth rate | UK | |
Disclosure of financial assets [line items] | |
GDP growth rate | 1.40% |
Unemployment rate | 4.20% |
House price growth | 2.90% |
Inflation rate | 4.70% |
Consensus Central scenario ECL | 2023: Annual average growth rate | US | |
Disclosure of financial assets [line items] | |
GDP growth rate | 2% |
Unemployment rate | 3.60% |
House price growth | 6.40% |
Inflation rate | 3.20% |
Consensus Central scenario ECL | 2023: Annual average growth rate | Hong Kong | |
Disclosure of financial assets [line items] | |
GDP growth rate | 3.80% |
Unemployment rate | 3.60% |
House price growth | 1.20% |
Inflation rate | 2.20% |
Consensus Central scenario ECL | 2023: Annual average growth rate | Mainland China | |
Disclosure of financial assets [line items] | |
GDP growth rate | 5.10% |
Unemployment rate | 3.70% |
House price growth | 1.30% |
Inflation rate | 2.30% |
Consensus Central scenario ECL | 2023: Annual average growth rate | Canada | |
Disclosure of financial assets [line items] | |
GDP growth rate | 2.60% |
Unemployment rate | 5.40% |
House price growth | (2.20%) |
Inflation rate | 2.80% |
Consensus Central scenario ECL | 2023: Annual average growth rate | France | |
Disclosure of financial assets [line items] | |
GDP growth rate | 1.80% |
Unemployment rate | 7.40% |
House price growth | 4.50% |
Inflation rate | 2.40% |
Consensus Central scenario ECL | 2023: Annual average growth rate | UAE | |
Disclosure of financial assets [line items] | |
GDP growth rate | 4.30% |
Unemployment rate | 2.70% |
House price growth | 3.40% |
Inflation rate | 2.30% |
Consensus Central scenario ECL | 2023: Annual average growth rate | Mexico | |
Disclosure of financial assets [line items] | |
GDP growth rate | 2.10% |
Unemployment rate | 3.80% |
House price growth | 5.30% |
Inflation rate | 4.50% |
Consensus Central scenario ECL | 2024: Annual average rate | UK | |
Disclosure of financial assets [line items] | |
GDP growth rate | 1.60% |
Unemployment rate | 4.10% |
House price growth | 2.90% |
Inflation rate | 2.10% |
Consensus Central scenario ECL | 2024: Annual average rate | US | |
Disclosure of financial assets [line items] | |
GDP growth rate | 1.90% |
Unemployment rate | 3.60% |
House price growth | 4.50% |
Inflation rate | 2.20% |
Consensus Central scenario ECL | 2024: Annual average rate | Hong Kong | |
Disclosure of financial assets [line items] | |
GDP growth rate | 2.50% |
Unemployment rate | 3.50% |
House price growth | 2.50% |
Inflation rate | 2.20% |
Consensus Central scenario ECL | 2024: Annual average rate | Mainland China | |
Disclosure of financial assets [line items] | |
GDP growth rate | 5% |
Unemployment rate | 3.70% |
House price growth | 3.50% |
Inflation rate | 2.30% |
Consensus Central scenario ECL | 2024: Annual average rate | Canada | |
Disclosure of financial assets [line items] | |
GDP growth rate | 1.80% |
Unemployment rate | 5.60% |
House price growth | (0.50%) |
Inflation rate | 2.30% |
Consensus Central scenario ECL | 2024: Annual average rate | France | |
Disclosure of financial assets [line items] | |
GDP growth rate | 1.60% |
Unemployment rate | 7.30% |
House price growth | 4.10% |
Inflation rate | 2% |
Consensus Central scenario ECL | 2024: Annual average rate | UAE | |
Disclosure of financial assets [line items] | |
GDP growth rate | 3.20% |
Unemployment rate | 2.60% |
House price growth | 2.50% |
Inflation rate | 2.20% |
Consensus Central scenario ECL | 2024: Annual average rate | Mexico | |
Disclosure of financial assets [line items] | |
GDP growth rate | 2.20% |
Unemployment rate | 3.80% |
House price growth | 4.80% |
Inflation rate | 4% |
Report of the directors finan_7
Report of the directors financial review risk report - The consensus Upside scenario (Details) - Consensus Upside scenario ECL | 6 Months Ended |
Jun. 30, 2022 | |
UK | |
Disclosure of financial assets [line items] | |
Probability | 10% |
UK | 2022: Annual average growth rate | |
Disclosure of financial assets [line items] | |
GDP growth rate | 4.30% |
UK | 2023: Annual average growth rate | |
Disclosure of financial assets [line items] | |
Unemployment rate | 3.20% |
House price growth | 9.80% |
Inflation rate | 10.20% |
US | |
Disclosure of financial assets [line items] | |
Probability | 5% |
US | 2022: Annual average growth rate | |
Disclosure of financial assets [line items] | |
GDP growth rate | 4.70% |
US | 2023: Annual average growth rate | |
Disclosure of financial assets [line items] | |
Unemployment rate | 3.10% |
House price growth | 13.20% |
Inflation rate | 7.80% |
Hong Kong | |
Disclosure of financial assets [line items] | |
Probability | 5% |
Hong Kong | 2022: Annual average growth rate | |
Disclosure of financial assets [line items] | |
GDP growth rate | 12.40% |
Hong Kong | 2023: Annual average growth rate | |
Disclosure of financial assets [line items] | |
Unemployment rate | 2.80% |
House price growth | 7.70% |
Inflation rate | 4.10% |
Mainland China | |
Disclosure of financial assets [line items] | |
Probability | 5% |
Mainland China | 2022: Annual average growth rate | |
Disclosure of financial assets [line items] | |
GDP growth rate | 10.20% |
Mainland China | 2023: Annual average growth rate | |
Disclosure of financial assets [line items] | |
Unemployment rate | 3.50% |
House price growth | 6.20% |
Inflation rate | 5.80% |
Canada | |
Disclosure of financial assets [line items] | |
Probability | 5% |
Canada | 2022: Annual average growth rate | |
Disclosure of financial assets [line items] | |
GDP growth rate | 5.90% |
Canada | 2023: Annual average growth rate | |
Disclosure of financial assets [line items] | |
Unemployment rate | 4.40% |
House price growth | 18.20% |
Inflation rate | 6.80% |
France | |
Disclosure of financial assets [line items] | |
Probability | 10% |
France | 2022: Annual average growth rate | |
Disclosure of financial assets [line items] | |
GDP growth rate | 3.40% |
France | 2023: Annual average growth rate | |
Disclosure of financial assets [line items] | |
Unemployment rate | 6.40% |
House price growth | 6.10% |
Inflation rate | 6.70% |
UAE | |
Disclosure of financial assets [line items] | |
Probability | 5% |
UAE | 2022: Annual average growth rate | |
Disclosure of financial assets [line items] | |
GDP growth rate | 13.40% |
UAE | 2023: Annual average growth rate | |
Disclosure of financial assets [line items] | |
Unemployment rate | 1.90% |
House price growth | 15.40% |
Inflation rate | 4% |
Mexico | |
Disclosure of financial assets [line items] | |
Probability | 5% |
Mexico | 2022: Annual average growth rate | |
Disclosure of financial assets [line items] | |
GDP growth rate | 5.80% |
Mexico | 2023: Annual average growth rate | |
Disclosure of financial assets [line items] | |
Unemployment rate | 3.20% |
House price growth | 9.30% |
Inflation rate | 7.60% |
Report of the directors finan_8
Report of the directors financial review risk report - The Downside scenarios (Details) | 6 Months Ended |
Jun. 30, 2022 | |
Consensus Downside scenario ECL | UK | |
Disclosure of financial assets [line items] | |
Probability | 0% |
Consensus Downside scenario ECL | UK | 2022: Annual average growth rate | |
Disclosure of financial assets [line items] | |
GDP growth rate | (0.70%) |
Consensus Downside scenario ECL | UK | 2023: Annual average growth rate | |
Disclosure of financial assets [line items] | |
Unemployment rate | 5.50% |
House price growth | (4.10%) |
Inflation rate | 0.70% |
Consensus Downside scenario ECL | US | |
Disclosure of financial assets [line items] | |
Probability | 15% |
Consensus Downside scenario ECL | US | 2022: Annual average growth rate | |
Disclosure of financial assets [line items] | |
GDP growth rate | (1.70%) |
Consensus Downside scenario ECL | US | 2023: Annual average growth rate | |
Disclosure of financial assets [line items] | |
Unemployment rate | 5.10% |
House price growth | 2.90% |
Inflation rate | 0.70% |
Consensus Downside scenario ECL | Hong Kong | |
Disclosure of financial assets [line items] | |
Probability | 20% |
Consensus Downside scenario ECL | Hong Kong | 2022: Annual average growth rate | |
Disclosure of financial assets [line items] | |
GDP growth rate | (2.90%) |
Consensus Downside scenario ECL | Hong Kong | 2023: Annual average growth rate | |
Disclosure of financial assets [line items] | |
Unemployment rate | 5.40% |
House price growth | (8.30%) |
Inflation rate | (0.50%) |
Consensus Downside scenario ECL | Mainland China | |
Disclosure of financial assets [line items] | |
Probability | 30% |
Consensus Downside scenario ECL | Mainland China | 2022: Annual average growth rate | |
Disclosure of financial assets [line items] | |
GDP growth rate | 1.30% |
Consensus Downside scenario ECL | Mainland China | 2023: Annual average growth rate | |
Disclosure of financial assets [line items] | |
Unemployment rate | 4.20% |
House price growth | (4.30%) |
Inflation rate | (0.70%) |
Consensus Downside scenario ECL | Canada | |
Disclosure of financial assets [line items] | |
Probability | 15% |
Consensus Downside scenario ECL | Canada | 2022: Annual average growth rate | |
Disclosure of financial assets [line items] | |
GDP growth rate | (0.80%) |
Consensus Downside scenario ECL | Canada | 2023: Annual average growth rate | |
Disclosure of financial assets [line items] | |
Unemployment rate | 6.60% |
House price growth | (9.00%) |
Inflation rate | 0% |
Consensus Downside scenario ECL | France | |
Disclosure of financial assets [line items] | |
Probability | 0% |
Consensus Downside scenario ECL | France | 2022: Annual average growth rate | |
Disclosure of financial assets [line items] | |
GDP growth rate | 0.10% |
Consensus Downside scenario ECL | France | 2023: Annual average growth rate | |
Disclosure of financial assets [line items] | |
Unemployment rate | 8.50% |
House price growth | 2.40% |
Inflation rate | (0.60%) |
Consensus Downside scenario ECL | UAE | |
Disclosure of financial assets [line items] | |
Probability | 20% |
Consensus Downside scenario ECL | UAE | 2022: Annual average growth rate | |
Disclosure of financial assets [line items] | |
GDP growth rate | (0.60%) |
Consensus Downside scenario ECL | UAE | 2023: Annual average growth rate | |
Disclosure of financial assets [line items] | |
Unemployment rate | 4% |
House price growth | (4.80%) |
Inflation rate | 0.40% |
Consensus Downside scenario ECL | Mexico | |
Disclosure of financial assets [line items] | |
Probability | 10% |
Consensus Downside scenario ECL | Mexico | 2022: Annual average growth rate | |
Disclosure of financial assets [line items] | |
GDP growth rate | (1.00%) |
Consensus Downside scenario ECL | Mexico | 2023: Annual average growth rate | |
Disclosure of financial assets [line items] | |
Unemployment rate | 4.70% |
House price growth | 2.20% |
Inflation rate | 2.30% |
Downside 1 scenario ECL | UK | |
Disclosure of financial assets [line items] | |
Probability | 30% |
Downside 1 scenario ECL | UK | 2022: Annual average growth rate | |
Disclosure of financial assets [line items] | |
GDP growth rate | (3.70%) |
Downside 1 scenario ECL | UK | 2023: Annual average growth rate | |
Disclosure of financial assets [line items] | |
Unemployment rate | 6.60% |
House price growth | (11.90%) |
Inflation rate | 9.50% |
Downside 1 scenario ECL | US | |
Disclosure of financial assets [line items] | |
Probability | 10% |
Downside 1 scenario ECL | US | 2022: Annual average growth rate | |
Disclosure of financial assets [line items] | |
GDP growth rate | (4.10%) |
Downside 1 scenario ECL | US | 2023: Annual average growth rate | |
Disclosure of financial assets [line items] | |
Unemployment rate | 8.80% |
House price growth | (4.20%) |
Inflation rate | 6.90% |
Downside 1 scenario ECL | Hong Kong | |
Disclosure of financial assets [line items] | |
Probability | 15% |
Downside 1 scenario ECL | Hong Kong | 2022: Annual average growth rate | |
Disclosure of financial assets [line items] | |
GDP growth rate | (3.00%) |
Downside 1 scenario ECL | Hong Kong | 2023: Annual average growth rate | |
Disclosure of financial assets [line items] | |
Unemployment rate | 6.50% |
House price growth | (7.60%) |
Inflation rate | 4.20% |
Downside 1 scenario ECL | Mainland China | |
Disclosure of financial assets [line items] | |
Probability | 5% |
Downside 1 scenario ECL | Mainland China | 2022: Annual average growth rate | |
Disclosure of financial assets [line items] | |
GDP growth rate | (1.20%) |
Downside 1 scenario ECL | Mainland China | 2023: Annual average growth rate | |
Disclosure of financial assets [line items] | |
Unemployment rate | 4.80% |
House price growth | (9.80%) |
Inflation rate | 4.20% |
Downside 1 scenario ECL | Canada | |
Disclosure of financial assets [line items] | |
Probability | 10% |
Downside 1 scenario ECL | Canada | 2022: Annual average growth rate | |
Disclosure of financial assets [line items] | |
GDP growth rate | (0.60%) |
Downside 1 scenario ECL | Canada | 2023: Annual average growth rate | |
Disclosure of financial assets [line items] | |
Unemployment rate | 9.90% |
House price growth | (8.20%) |
Inflation rate | 6.30% |
Downside 1 scenario ECL | France | |
Disclosure of financial assets [line items] | |
Probability | 35% |
Downside 1 scenario ECL | France | 2022: Annual average growth rate | |
Disclosure of financial assets [line items] | |
GDP growth rate | (3.10%) |
Downside 1 scenario ECL | France | 2023: Annual average growth rate | |
Disclosure of financial assets [line items] | |
Unemployment rate | 9.10% |
House price growth | (2.00%) |
Inflation rate | 5% |
Downside 1 scenario ECL | UAE | |
Disclosure of financial assets [line items] | |
Probability | 5% |
Downside 1 scenario ECL | UAE | 2022: Annual average growth rate | |
Disclosure of financial assets [line items] | |
GDP growth rate | (2.50%) |
Downside 1 scenario ECL | UAE | 2023: Annual average growth rate | |
Disclosure of financial assets [line items] | |
Unemployment rate | 3% |
House price growth | (4.40%) |
Inflation rate | 3.70% |
Downside 1 scenario ECL | Mexico | |
Disclosure of financial assets [line items] | |
Probability | 15% |
Downside 1 scenario ECL | Mexico | 2022: Annual average growth rate | |
Disclosure of financial assets [line items] | |
GDP growth rate | (5.30%) |
Downside 1 scenario ECL | Mexico | 2023: Annual average growth rate | |
Disclosure of financial assets [line items] | |
Unemployment rate | 5.20% |
House price growth | 2.80% |
Inflation rate | 6.80% |
Downside 2 scenario ECL | UK | |
Disclosure of financial assets [line items] | |
Probability | 10% |
Downside 2 scenario ECL | UK | 2022: Annual average growth rate | |
Disclosure of financial assets [line items] | |
GDP growth rate | (6.30%) |
Downside 2 scenario ECL | UK | 2023: Annual average growth rate | |
Disclosure of financial assets [line items] | |
Unemployment rate | 8.50% |
House price growth | (15.20%) |
Inflation rate | (2.20%) |
Downside 2 scenario ECL | US | |
Disclosure of financial assets [line items] | |
Probability | 10% |
Downside 2 scenario ECL | US | 2022: Annual average growth rate | |
Disclosure of financial assets [line items] | |
GDP growth rate | (4.90%) |
Downside 2 scenario ECL | US | 2023: Annual average growth rate | |
Disclosure of financial assets [line items] | |
Unemployment rate | 9.10% |
House price growth | (10.80%) |
Inflation rate | 1.50% |
Downside 2 scenario ECL | Hong Kong | |
Disclosure of financial assets [line items] | |
Probability | 5% |
Downside 2 scenario ECL | Hong Kong | 2022: Annual average growth rate | |
Disclosure of financial assets [line items] | |
GDP growth rate | (9.30%) |
Downside 2 scenario ECL | Hong Kong | 2023: Annual average growth rate | |
Disclosure of financial assets [line items] | |
Unemployment rate | 5.90% |
House price growth | (10.80%) |
Inflation rate | (0.50%) |
Downside 2 scenario ECL | Mainland China | |
Disclosure of financial assets [line items] | |
Probability | 5% |
Downside 2 scenario ECL | Mainland China | 2022: Annual average growth rate | |
Disclosure of financial assets [line items] | |
GDP growth rate | (5.00%) |
Downside 2 scenario ECL | Mainland China | 2023: Annual average growth rate | |
Disclosure of financial assets [line items] | |
Unemployment rate | 5.40% |
House price growth | (18.70%) |
Inflation rate | 1.40% |
Downside 2 scenario ECL | Canada | |
Disclosure of financial assets [line items] | |
Probability | 10% |
Downside 2 scenario ECL | Canada | 2022: Annual average growth rate | |
Disclosure of financial assets [line items] | |
GDP growth rate | (3.40%) |
Downside 2 scenario ECL | Canada | 2023: Annual average growth rate | |
Disclosure of financial assets [line items] | |
Unemployment rate | 11.10% |
House price growth | (30.10%) |
Inflation rate | 0.90% |
Downside 2 scenario ECL | France | |
Disclosure of financial assets [line items] | |
Probability | 15% |
Downside 2 scenario ECL | France | 2022: Annual average growth rate | |
Disclosure of financial assets [line items] | |
GDP growth rate | (5.50%) |
Downside 2 scenario ECL | France | 2023: Annual average growth rate | |
Disclosure of financial assets [line items] | |
Unemployment rate | 10.20% |
House price growth | (4.50%) |
Inflation rate | (2.70%) |
Downside 2 scenario ECL | UAE | |
Disclosure of financial assets [line items] | |
Probability | 5% |
Downside 2 scenario ECL | UAE | 2022: Annual average growth rate | |
Disclosure of financial assets [line items] | |
GDP growth rate | (6.50%) |
Downside 2 scenario ECL | UAE | 2023: Annual average growth rate | |
Disclosure of financial assets [line items] | |
Unemployment rate | 4.60% |
House price growth | (11.30%) |
Inflation rate | 1.70% |
Downside 2 scenario ECL | Mexico | |
Disclosure of financial assets [line items] | |
Probability | 10% |
Downside 2 scenario ECL | Mexico | 2022: Annual average growth rate | |
Disclosure of financial assets [line items] | |
GDP growth rate | (7.20%) |
Downside 2 scenario ECL | Mexico | 2023: Annual average growth rate | |
Disclosure of financial assets [line items] | |
Unemployment rate | 5.70% |
House price growth | 1.10% |
Inflation rate | 3.40% |
Report of the directors finan_9
Report of the directors financial review risk report - Scenario weightings (Details) | 6 Months Ended |
Jun. 30, 2022 market | |
Disclosure of financial assets [line items] | |
Markets with lower uncertainty | 4 |
United States, Canada, Mexico | |
Disclosure of financial assets [line items] | |
Markets with lower uncertainty | 3 |
Upside And Central Scenario | Mainland China | |
Disclosure of financial assets [line items] | |
Probability | 60% |
Upside And Central Scenario | Hong Kong | |
Disclosure of financial assets [line items] | |
Probability | 60% |
Upside And Central Scenario | UK | |
Disclosure of financial assets [line items] | |
Probability | 60% |
Upside And Central Scenario | United States, Canada, Mexico | |
Disclosure of financial assets [line items] | |
Probability | 65% |
Upside And Central Scenario | France | |
Disclosure of financial assets [line items] | |
Probability | 50% |
Upside And Central Scenario | UAE | |
Disclosure of financial assets [line items] | |
Probability | 70% |
Report of the directors fina_10
Report of the directors financial review risk report - Management judgemental adjustments (Details) - USD ($) $ in Billions | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Allowance for ECL | |||
Disclosure of financial assets [line items] | |||
Increase in financial assets | $ (0.6) | ||
Retail | Allowance for ECL | |||
Disclosure of financial assets [line items] | |||
Increase in financial assets | 0.4 | $ 0.5 | |
Wholesale | Allowance for ECL | |||
Disclosure of financial assets [line items] | |||
Increase in financial assets | 0.8 | 1.2 | |
Management adjustments | |||
Disclosure of financial assets [line items] | |||
Increase in financial assets | (0.5) | ||
Management adjustments | Allowance for ECL | |||
Disclosure of financial assets [line items] | |||
Increase in financial assets | 1.2 | 1.7 | |
Management adjustments | Retail | Allowance for ECL | |||
Disclosure of financial assets [line items] | |||
Increase in financial assets | 0.4 | 0.5 | |
Management adjustments | Wholesale | Allowance for ECL | |||
Disclosure of financial assets [line items] | |||
Increase in financial assets | 0.8 | 1.2 | |
Corporate lending adjustments | Allowance for ECL | |||
Disclosure of financial assets [line items] | |||
Increase in financial assets | 0.8 | 1.3 | |
Corporate lending adjustments | Allowance for ECL | Hong Kong | |||
Disclosure of financial assets [line items] | |||
Increase in financial assets | 0.2 | ||
Corporate lending adjustments | Wholesale | Allowance for ECL | |||
Disclosure of financial assets [line items] | |||
Increase in financial assets | 0.8 | 1.3 | |
Inflation Related Adjustments | Allowance for ECL | |||
Disclosure of financial assets [line items] | |||
Increase in financial assets | 0.1 | ||
Inflation Related Adjustments | Retail | Allowance for ECL | |||
Disclosure of financial assets [line items] | |||
Increase in financial assets | 0.1 | 0 | |
Other macroeconomic-related adjustments | Allowance for ECL | |||
Disclosure of financial assets [line items] | |||
Increase in financial assets | 0.1 | 0 | |
Other macroeconomic-related adjustments | Retail | Allowance for ECL | |||
Disclosure of financial assets [line items] | |||
Increase in financial assets | 0.1 | 0 | |
Pandemic-related economic recovery adjustments | Allowance for ECL | |||
Disclosure of financial assets [line items] | |||
Increase in financial assets | 0.1 | $ 0.2 | |
Pandemic-related economic recovery adjustments | Retail | Allowance for ECL | |||
Disclosure of financial assets [line items] | |||
Increase in financial assets | 0.1 | $ 0.2 | 0.2 |
Other retail lending adjustments | Allowance for ECL | |||
Disclosure of financial assets [line items] | |||
Increase in financial assets | 0.2 | 0.3 | |
Other retail lending adjustments | Retail | Allowance for ECL | |||
Disclosure of financial assets [line items] | |||
Increase in financial assets | 0.2 | 0.3 | |
Banks, sovereigns and government entities | Allowance for ECL | |||
Disclosure of financial assets [line items] | |||
Increase in financial assets | 0 | (0.1) | |
Banks, sovereigns and government entities | Wholesale | Allowance for ECL | |||
Disclosure of financial assets [line items] | |||
Increase in financial assets | $ 0 | $ (0.1) |
Report of the directors fina_11
Report of the directors financial review risk report - Economic scenarios sensitivity analysis of ECL estimates (Details) | 6 Months Ended |
Jun. 30, 2022 | |
Disclosure of financial assets [line items] | |
ECL, weight assigned to scenarios | 100% |
Report of the directors fina_12
Report of the directors financial review risk report - Wholesale analysis (Details) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2022 | Dec. 31, 2021 | |
Disclosure of financial assets [line items] | ||
ECL, weight assigned to scenarios | 100% | |
Allowance for ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ (11,600) | $ (12,200) |
Allowance for ECL | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ (2,600) | (3,100) |
UK | Wholesale | ||
Disclosure of financial assets [line items] | ||
ECL, weight assigned to scenarios | 100% | |
UK | Gross carrying/ nominal amount | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 432,013 | 483,273 |
UK | Allowance for ECL | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | (730) | (920) |
UK | Allowance for ECL | Wholesale | Consensus Central scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (509) | (727) |
UK | Allowance for ECL | Wholesale | Consensus Upside scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (433) | (590) |
UK | Allowance for ECL | Wholesale | Consensus Downside scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (613) | (944) |
UK | Allowance for ECL | Wholesale | Downside 1 scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (923) | |
UK | Allowance for ECL | Wholesale | Downside 2 scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (1,851) | (1,985) |
US | Gross carrying/ nominal amount | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | 216,976 | 227,817 |
US | Allowance for ECL | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | (247) | (227) |
US | Allowance for ECL | Wholesale | Consensus Central scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (219) | (204) |
US | Allowance for ECL | Wholesale | Consensus Upside scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (198) | (155) |
US | Allowance for ECL | Wholesale | Consensus Downside scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (245) | (317) |
US | Allowance for ECL | Wholesale | Downside 1 scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (266) | |
US | Allowance for ECL | Wholesale | Downside 2 scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ (371) | (391) |
Hong Kong | Wholesale | ||
Disclosure of financial assets [line items] | ||
ECL, weight assigned to scenarios | 100% | |
Hong Kong | Gross carrying/ nominal amount | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 433,612 | 434,608 |
Hong Kong | Allowance for ECL | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | (534) | (767) |
Hong Kong | Allowance for ECL | Wholesale | Consensus Central scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (415) | (652) |
Hong Kong | Allowance for ECL | Wholesale | Consensus Upside scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (286) | (476) |
Hong Kong | Allowance for ECL | Wholesale | Consensus Downside scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (703) | (984) |
Hong Kong | Allowance for ECL | Wholesale | Downside 1 scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (640) | |
Hong Kong | Allowance for ECL | Wholesale | Downside 2 scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (1,313) | (1,869) |
Mainland China | Gross carrying/ nominal amount | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | 131,552 | 120,627 |
Mainland China | Allowance for ECL | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | (216) | (149) |
Mainland China | Allowance for ECL | Wholesale | Consensus Central scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (144) | (113) |
Mainland China | Allowance for ECL | Wholesale | Consensus Upside scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (62) | (36) |
Mainland China | Allowance for ECL | Wholesale | Consensus Downside scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (298) | (216) |
Mainland China | Allowance for ECL | Wholesale | Downside 1 scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (379) | |
Mainland China | Allowance for ECL | Wholesale | Downside 2 scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ (729) | (806) |
Canada | Wholesale | ||
Disclosure of financial assets [line items] | ||
ECL, weight assigned to scenarios | 100% | |
Canada | Gross carrying/ nominal amount | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 83,132 | 85,117 |
Canada | Allowance for ECL | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | (116) | (151) |
Canada | Allowance for ECL | Wholesale | Consensus Central scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (28) | (98) |
Canada | Allowance for ECL | Wholesale | Consensus Upside scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (18) | (61) |
Canada | Allowance for ECL | Wholesale | Consensus Downside scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (52) | (150) |
Canada | Allowance for ECL | Wholesale | Downside 1 scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (86) | |
Canada | Allowance for ECL | Wholesale | Downside 2 scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (717) | (1,121) |
Mexico | Gross carrying/ nominal amount | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | 24,919 | 23,054 |
Mexico | Allowance for ECL | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | (79) | (118) |
Mexico | Allowance for ECL | Wholesale | Consensus Central scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (62) | (80) |
Mexico | Allowance for ECL | Wholesale | Consensus Upside scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (48) | (61) |
Mexico | Allowance for ECL | Wholesale | Consensus Downside scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (90) | (123) |
Mexico | Allowance for ECL | Wholesale | Downside 1 scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (151) | |
Mexico | Allowance for ECL | Wholesale | Downside 2 scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (223) | (358) |
UAE | Gross carrying/ nominal amount | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | 44,323 | 44,767 |
UAE | Allowance for ECL | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | (84) | (158) |
UAE | Allowance for ECL | Wholesale | Consensus Central scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (71) | (122) |
UAE | Allowance for ECL | Wholesale | Consensus Upside scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (41) | (73) |
UAE | Allowance for ECL | Wholesale | Consensus Downside scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (105) | (214) |
UAE | Allowance for ECL | Wholesale | Downside 1 scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (115) | |
UAE | Allowance for ECL | Wholesale | Downside 2 scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (155) | (711) |
France | Gross carrying/ nominal amount | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | 177,515 | 163,845 |
France | Allowance for ECL | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | (142) | (133) |
France | Allowance for ECL | Wholesale | Consensus Central scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (122) | (121) |
France | Allowance for ECL | Wholesale | Consensus Upside scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (109) | (106) |
France | Allowance for ECL | Wholesale | Consensus Downside scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (146) | (162) |
France | Allowance for ECL | Wholesale | Downside 1 scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (158) | |
France | Allowance for ECL | Wholesale | Downside 2 scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ (182) | $ (187) |
Report of the directors fina_13
Report of the directors financial review risk report - Retail analysis (Details) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2022 | Dec. 31, 2021 | |
Disclosure of financial assets [line items] | ||
ECL, weight assigned to scenarios | 100% | |
Allowance for ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ (11,600) | $ (12,200) |
Allowance for ECL | Retail | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ (2,800) | (3,000) |
UK | Retail | ||
Disclosure of financial assets [line items] | ||
ECL, weight assigned to scenarios | 100% | |
UK | Gross carrying/ nominal amount | Mortgages | Retail | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 144,630 | 155,084 |
UK | Gross carrying/ nominal amount | Credit cards | Retail | ||
Disclosure of financial assets [line items] | ||
Financial assets | 7,147 | 8,084 |
UK | Gross carrying/ nominal amount | Other financial assets measured at amortised cost | Retail | ||
Disclosure of financial assets [line items] | ||
Financial assets | 7,253 | 7,902 |
UK | Allowance for ECL | Mortgages | Retail | ||
Disclosure of financial assets [line items] | ||
Financial assets | (169) | (191) |
UK | Allowance for ECL | Mortgages | Retail | Consensus Central scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (156) | (182) |
UK | Allowance for ECL | Mortgages | Retail | Consensus Upside scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (150) | (175) |
UK | Allowance for ECL | Mortgages | Retail | Consensus Downside scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (170) | (197) |
UK | Allowance for ECL | Mortgages | Retail | Downside 1 scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (186) | |
UK | Allowance for ECL | Mortgages | Retail | Downside 2 scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (200) | (231) |
UK | Allowance for ECL | Credit cards | Retail | ||
Disclosure of financial assets [line items] | ||
Financial assets | (433) | (439) |
UK | Allowance for ECL | Credit cards | Retail | Consensus Central scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (336) | (381) |
UK | Allowance for ECL | Credit cards | Retail | Consensus Upside scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (293) | (330) |
UK | Allowance for ECL | Credit cards | Retail | Consensus Downside scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (434) | (456) |
UK | Allowance for ECL | Credit cards | Retail | Downside 1 scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (495) | |
UK | Allowance for ECL | Credit cards | Retail | Downside 2 scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (836) | (987) |
UK | Allowance for ECL | Other financial assets measured at amortised cost | Retail | ||
Disclosure of financial assets [line items] | ||
Financial assets | (374) | (369) |
UK | Allowance for ECL | Other financial assets measured at amortised cost | Retail | Consensus Central scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (305) | (298) |
UK | Allowance for ECL | Other financial assets measured at amortised cost | Retail | Consensus Upside scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (258) | (254) |
UK | Allowance for ECL | Other financial assets measured at amortised cost | Retail | Consensus Downside scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (325) | (388) |
UK | Allowance for ECL | Other financial assets measured at amortised cost | Retail | Downside 1 scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (471) | |
UK | Allowance for ECL | Other financial assets measured at amortised cost | Retail | Downside 2 scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ (595) | (830) |
Mexico | Retail | ||
Disclosure of financial assets [line items] | ||
ECL, weight assigned to scenarios | 100% | |
Mexico | Gross carrying/ nominal amount | Mortgages | Retail | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 5,560 | 4,972 |
Mexico | Gross carrying/ nominal amount | Credit cards | Retail | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,303 | 1,167 |
Mexico | Gross carrying/ nominal amount | Other financial assets measured at amortised cost | Retail | ||
Disclosure of financial assets [line items] | ||
Financial assets | 3,119 | 2,935 |
Mexico | Allowance for ECL | Mortgages | Retail | ||
Disclosure of financial assets [line items] | ||
Financial assets | (118) | (123) |
Mexico | Allowance for ECL | Mortgages | Retail | Consensus Central scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (107) | (116) |
Mexico | Allowance for ECL | Mortgages | Retail | Consensus Upside scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (96) | (106) |
Mexico | Allowance for ECL | Mortgages | Retail | Consensus Downside scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (124) | (130) |
Mexico | Allowance for ECL | Mortgages | Retail | Downside 1 scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (115) | |
Mexico | Allowance for ECL | Mortgages | Retail | Downside 2 scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (160) | (164) |
Mexico | Allowance for ECL | Credit cards | Retail | ||
Disclosure of financial assets [line items] | ||
Financial assets | (167) | (141) |
Mexico | Allowance for ECL | Credit cards | Retail | Consensus Central scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (157) | (134) |
Mexico | Allowance for ECL | Credit cards | Retail | Consensus Upside scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (143) | (122) |
Mexico | Allowance for ECL | Credit cards | Retail | Consensus Downside scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (180) | (150) |
Mexico | Allowance for ECL | Credit cards | Retail | Downside 1 scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (182) | |
Mexico | Allowance for ECL | Credit cards | Retail | Downside 2 scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (216) | (176) |
Mexico | Allowance for ECL | Other financial assets measured at amortised cost | Retail | ||
Disclosure of financial assets [line items] | ||
Financial assets | (395) | (366) |
Mexico | Allowance for ECL | Other financial assets measured at amortised cost | Retail | Consensus Central scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (387) | (360) |
Mexico | Allowance for ECL | Other financial assets measured at amortised cost | Retail | Consensus Upside scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (371) | (350) |
Mexico | Allowance for ECL | Other financial assets measured at amortised cost | Retail | Consensus Downside scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (411) | (374) |
Mexico | Allowance for ECL | Other financial assets measured at amortised cost | Retail | Downside 1 scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (400) | |
Mexico | Allowance for ECL | Other financial assets measured at amortised cost | Retail | Downside 2 scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ (471) | (401) |
Hong Kong | Retail | ||
Disclosure of financial assets [line items] | ||
ECL, weight assigned to scenarios | 100% | |
Hong Kong | Gross carrying/ nominal amount | Mortgages | Retail | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 98,070 | 96,697 |
Hong Kong | Gross carrying/ nominal amount | Credit cards | Retail | ||
Disclosure of financial assets [line items] | ||
Financial assets | 7,180 | 7,644 |
Hong Kong | Gross carrying/ nominal amount | Other financial assets measured at amortised cost | Retail | ||
Disclosure of financial assets [line items] | ||
Financial assets | 5,848 | 5,628 |
Hong Kong | Allowance for ECL | Mortgages | Retail | ||
Disclosure of financial assets [line items] | ||
Financial assets | 0 | 0 |
Hong Kong | Allowance for ECL | Mortgages | Retail | Consensus Central scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | 0 | 0 |
Hong Kong | Allowance for ECL | Mortgages | Retail | Consensus Upside scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | 0 | 0 |
Hong Kong | Allowance for ECL | Mortgages | Retail | Consensus Downside scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | 0 | 0 |
Hong Kong | Allowance for ECL | Mortgages | Retail | Downside 1 scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | 0 | |
Hong Kong | Allowance for ECL | Mortgages | Retail | Downside 2 scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | 0 | 0 |
Hong Kong | Allowance for ECL | Credit cards | Retail | ||
Disclosure of financial assets [line items] | ||
Financial assets | (236) | (218) |
Hong Kong | Allowance for ECL | Credit cards | Retail | Consensus Central scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (208) | (206) |
Hong Kong | Allowance for ECL | Credit cards | Retail | Consensus Upside scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (182) | (154) |
Hong Kong | Allowance for ECL | Credit cards | Retail | Consensus Downside scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (269) | (231) |
Hong Kong | Allowance for ECL | Credit cards | Retail | Downside 1 scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (310) | |
Hong Kong | Allowance for ECL | Credit cards | Retail | Downside 2 scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (336) | (359) |
Hong Kong | Allowance for ECL | Other financial assets measured at amortised cost | Retail | ||
Disclosure of financial assets [line items] | ||
Financial assets | (99) | (109) |
Hong Kong | Allowance for ECL | Other financial assets measured at amortised cost | Retail | Consensus Central scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (91) | (101) |
Hong Kong | Allowance for ECL | Other financial assets measured at amortised cost | Retail | Consensus Upside scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (83) | (88) |
Hong Kong | Allowance for ECL | Other financial assets measured at amortised cost | Retail | Consensus Downside scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (105) | (128) |
Hong Kong | Allowance for ECL | Other financial assets measured at amortised cost | Retail | Downside 1 scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (111) | |
Hong Kong | Allowance for ECL | Other financial assets measured at amortised cost | Retail | Downside 2 scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (140) | (180) |
UAE | Gross carrying/ nominal amount | Mortgages | Retail | ||
Disclosure of financial assets [line items] | ||
Financial assets | 2,081 | 1,982 |
UAE | Gross carrying/ nominal amount | Credit cards | Retail | ||
Disclosure of financial assets [line items] | ||
Financial assets | 427 | 429 |
UAE | Gross carrying/ nominal amount | Other financial assets measured at amortised cost | Retail | ||
Disclosure of financial assets [line items] | ||
Financial assets | 656 | 615 |
UAE | Allowance for ECL | Mortgages | Retail | ||
Disclosure of financial assets [line items] | ||
Financial assets | (37) | (45) |
UAE | Allowance for ECL | Mortgages | Retail | Consensus Central scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (37) | (44) |
UAE | Allowance for ECL | Mortgages | Retail | Consensus Upside scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (35) | (42) |
UAE | Allowance for ECL | Mortgages | Retail | Consensus Downside scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (37) | (46) |
UAE | Allowance for ECL | Mortgages | Retail | Downside 1 scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (39) | |
UAE | Allowance for ECL | Mortgages | Retail | Downside 2 scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (40) | (57) |
UAE | Allowance for ECL | Credit cards | Retail | ||
Disclosure of financial assets [line items] | ||
Financial assets | (41) | (43) |
UAE | Allowance for ECL | Credit cards | Retail | Consensus Central scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (34) | (41) |
UAE | Allowance for ECL | Credit cards | Retail | Consensus Upside scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (20) | (29) |
UAE | Allowance for ECL | Credit cards | Retail | Consensus Downside scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (67) | (54) |
UAE | Allowance for ECL | Credit cards | Retail | Downside 1 scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (36) | |
UAE | Allowance for ECL | Credit cards | Retail | Downside 2 scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (70) | (82) |
UAE | Allowance for ECL | Other financial assets measured at amortised cost | Retail | ||
Disclosure of financial assets [line items] | ||
Financial assets | (17) | (19) |
UAE | Allowance for ECL | Other financial assets measured at amortised cost | Retail | Consensus Central scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (15) | (18) |
UAE | Allowance for ECL | Other financial assets measured at amortised cost | Retail | Consensus Upside scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (12) | (13) |
UAE | Allowance for ECL | Other financial assets measured at amortised cost | Retail | Consensus Downside scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (16) | (21) |
UAE | Allowance for ECL | Other financial assets measured at amortised cost | Retail | Downside 1 scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (17) | |
UAE | Allowance for ECL | Other financial assets measured at amortised cost | Retail | Downside 2 scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (21) | (25) |
France | Gross carrying/ nominal amount | Mortgages | Retail | ||
Disclosure of financial assets [line items] | ||
Financial assets | 21,384 | 23,159 |
France | Gross carrying/ nominal amount | Other financial assets measured at amortised cost | Retail | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,438 | 1,602 |
France | Allowance for ECL | Mortgages | Retail | ||
Disclosure of financial assets [line items] | ||
Financial assets | (59) | (63) |
France | Allowance for ECL | Mortgages | Retail | Consensus Central scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (59) | (62) |
France | Allowance for ECL | Mortgages | Retail | Consensus Upside scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (59) | (62) |
France | Allowance for ECL | Mortgages | Retail | Consensus Downside scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (59) | (63) |
France | Allowance for ECL | Mortgages | Retail | Downside 1 scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (59) | |
France | Allowance for ECL | Mortgages | Retail | Downside 2 scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (60) | (64) |
France | Allowance for ECL | Other financial assets measured at amortised cost | Retail | ||
Disclosure of financial assets [line items] | ||
Financial assets | (48) | (61) |
France | Allowance for ECL | Other financial assets measured at amortised cost | Retail | Consensus Central scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (48) | (61) |
France | Allowance for ECL | Other financial assets measured at amortised cost | Retail | Consensus Upside scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (47) | (60) |
France | Allowance for ECL | Other financial assets measured at amortised cost | Retail | Consensus Downside scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (48) | (61) |
France | Allowance for ECL | Other financial assets measured at amortised cost | Retail | Downside 1 scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (49) | |
France | Allowance for ECL | Other financial assets measured at amortised cost | Retail | Downside 2 scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (50) | (63) |
US | Gross carrying/ nominal amount | Mortgages | Retail | ||
Disclosure of financial assets [line items] | ||
Financial assets | 13,300 | 15,379 |
US | Gross carrying/ nominal amount | Credit cards | Retail | ||
Disclosure of financial assets [line items] | ||
Financial assets | 224 | 446 |
US | Allowance for ECL | Mortgages | Retail | ||
Disclosure of financial assets [line items] | ||
Financial assets | (11) | (28) |
US | Allowance for ECL | Mortgages | Retail | Consensus Central scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (9) | (27) |
US | Allowance for ECL | Mortgages | Retail | Consensus Upside scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (9) | (26) |
US | Allowance for ECL | Mortgages | Retail | Consensus Downside scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (11) | (29) |
US | Allowance for ECL | Mortgages | Retail | Downside 1 scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (11) | |
US | Allowance for ECL | Mortgages | Retail | Downside 2 scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (21) | (41) |
US | Allowance for ECL | Credit cards | Retail | ||
Disclosure of financial assets [line items] | ||
Financial assets | (51) | (80) |
US | Allowance for ECL | Credit cards | Retail | Consensus Central scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (47) | (76) |
US | Allowance for ECL | Credit cards | Retail | Consensus Upside scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (39) | (70) |
US | Allowance for ECL | Credit cards | Retail | Consensus Downside scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (52) | (83) |
US | Allowance for ECL | Credit cards | Retail | Downside 1 scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (60) | |
US | Allowance for ECL | Credit cards | Retail | Downside 2 scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (70) | (118) |
Canada | Gross carrying/ nominal amount | Mortgages | Retail | ||
Disclosure of financial assets [line items] | ||
Financial assets | 26,311 | 26,097 |
Canada | Gross carrying/ nominal amount | Credit cards | Retail | ||
Disclosure of financial assets [line items] | ||
Financial assets | 282 | 279 |
Canada | Gross carrying/ nominal amount | Other financial assets measured at amortised cost | Retail | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,520 | 1,598 |
Canada | Allowance for ECL | Mortgages | Retail | ||
Disclosure of financial assets [line items] | ||
Financial assets | (27) | (28) |
Canada | Allowance for ECL | Mortgages | Retail | Consensus Central scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (25) | (27) |
Canada | Allowance for ECL | Mortgages | Retail | Consensus Upside scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (24) | (26) |
Canada | Allowance for ECL | Mortgages | Retail | Consensus Downside scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (27) | (29) |
Canada | Allowance for ECL | Mortgages | Retail | Downside 1 scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (27) | |
Canada | Allowance for ECL | Mortgages | Retail | Downside 2 scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (43) | (48) |
Canada | Allowance for ECL | Credit cards | Retail | ||
Disclosure of financial assets [line items] | ||
Financial assets | (10) | (9) |
Canada | Allowance for ECL | Credit cards | Retail | Consensus Central scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (10) | (9) |
Canada | Allowance for ECL | Credit cards | Retail | Consensus Upside scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (10) | (9) |
Canada | Allowance for ECL | Credit cards | Retail | Consensus Downside scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (10) | (10) |
Canada | Allowance for ECL | Credit cards | Retail | Downside 1 scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (11) | |
Canada | Allowance for ECL | Credit cards | Retail | Downside 2 scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (12) | (13) |
Canada | Allowance for ECL | Other financial assets measured at amortised cost | Retail | ||
Disclosure of financial assets [line items] | ||
Financial assets | (14) | (19) |
Canada | Allowance for ECL | Other financial assets measured at amortised cost | Retail | Consensus Central scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (12) | (18) |
Canada | Allowance for ECL | Other financial assets measured at amortised cost | Retail | Consensus Upside scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (11) | (17) |
Canada | Allowance for ECL | Other financial assets measured at amortised cost | Retail | Consensus Downside scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (14) | (19) |
Canada | Allowance for ECL | Other financial assets measured at amortised cost | Retail | Downside 1 scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (16) | |
Canada | Allowance for ECL | Other financial assets measured at amortised cost | Retail | Downside 2 scenario ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ (24) | $ (27) |
Report of the directors fina_14
Report of the directors financial review risk report - Group ECL sensitivity results (Details) - USD ($) $ in Millions | 6 Months Ended | 12 Months Ended |
Jun. 30, 2022 | Dec. 31, 2021 | |
Consensus Central scenario ECL | UK | ||
Disclosure of financial assets [line items] | ||
Probability | 50% | |
Consensus Upside scenario ECL | UK | ||
Disclosure of financial assets [line items] | ||
Probability | 10% | |
Consensus Downside scenario ECL | UK | ||
Disclosure of financial assets [line items] | ||
Probability | 0% | |
Downside 1 scenario ECL | UK | ||
Disclosure of financial assets [line items] | ||
Probability | 30% | |
Downside 2 scenario ECL | UK | ||
Disclosure of financial assets [line items] | ||
Probability | 10% | |
Allowance for ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 11,600 | $ 12,200 |
Increase (decrease) in financial assets | 600 | |
Allowance for ECL | Retail | ||
Disclosure of financial assets [line items] | ||
Financial assets | 2,800 | 3,000 |
Increase (decrease) in financial assets | (400) | (500) |
Allowance for ECL | Retail | Consensus Central scenario ECL | Maximum | ||
Disclosure of financial assets [line items] | ||
Increase (decrease) in financial assets | (300) | (200) |
Allowance for ECL | Retail | Consensus Upside scenario ECL | Maximum | ||
Disclosure of financial assets [line items] | ||
Increase (decrease) in financial assets | (500) | (500) |
Allowance for ECL | Retail | Consensus Downside scenario ECL | Maximum | ||
Disclosure of financial assets [line items] | ||
Increase (decrease) in financial assets | 100 | 200 |
Allowance for ECL | Retail | Downside 1 scenario ECL | Maximum | ||
Disclosure of financial assets [line items] | ||
Increase (decrease) in financial assets | 300 | |
Allowance for ECL | Retail | Downside 2 scenario ECL | Maximum | ||
Disclosure of financial assets [line items] | ||
Increase (decrease) in financial assets | 1,400 | 2,000 |
Allowance for ECL | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | 2,600 | 3,100 |
Increase (decrease) in financial assets | (800) | (1,200) |
Allowance for ECL | Wholesale | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets | 730 | 920 |
Allowance for ECL | Wholesale | Consensus Central scenario ECL | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets | 509 | 727 |
Allowance for ECL | Wholesale | Consensus Central scenario ECL | Maximum | ||
Disclosure of financial assets [line items] | ||
Increase (decrease) in financial assets | (700) | (600) |
Allowance for ECL | Wholesale | Consensus Upside scenario ECL | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets | 433 | 590 |
Allowance for ECL | Wholesale | Consensus Upside scenario ECL | Maximum | ||
Disclosure of financial assets [line items] | ||
Increase (decrease) in financial assets | (1,100) | (1,200) |
Allowance for ECL | Wholesale | Consensus Downside scenario ECL | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets | 613 | 944 |
Allowance for ECL | Wholesale | Consensus Downside scenario ECL | Maximum | ||
Disclosure of financial assets [line items] | ||
Increase (decrease) in financial assets | 200 | 600 |
Allowance for ECL | Wholesale | Downside 1 scenario ECL | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets | 923 | |
Allowance for ECL | Wholesale | Downside 1 scenario ECL | Maximum | ||
Disclosure of financial assets [line items] | ||
Increase (decrease) in financial assets | 600 | |
Allowance for ECL | Wholesale | Downside 2 scenario ECL | UK | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,851 | 1,985 |
Allowance for ECL | Wholesale | Downside 2 scenario ECL | Maximum | ||
Disclosure of financial assets [line items] | ||
Increase (decrease) in financial assets | $ 4,200 | $ 5,500 |
Report of the directors fina_15
Report of the directors financial review risk report - Reconciliation of gross carrying/notional amount and allow. for loans and advances to banks and customers incl. loan commitments and financial guarantees (Details) - USD ($) $ in Millions | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2022 | Dec. 31, 2021 | Jun. 30, 2021 | Dec. 31, 2021 | |
Other financial assets measured at amortised cost | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | $ 97,302 | |||
Financial assets, ending balance | 154,219 | $ 97,302 | $ 97,302 | |
Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 345,173 | |||
Financial assets, ending balance | 284,232 | 345,173 | 345,173 | |
Other financial assets measured at amortised cost | Other financial assets measured at amortised cost | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 880,158 | |||
Financial assets, ending balance | 949,726 | 880,158 | 880,158 | |
Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | Other financial assets measured at amortised cost | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 75,668 | |||
Financial assets, ending balance | 98,827 | 75,668 | 75,668 | |
Loans and advances to banks | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 83,136 | |||
Financial assets, ending balance | 96,429 | 83,136 | 83,136 | |
Loans and advances to banks | Other financial assets measured at amortised cost | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 83,136 | |||
Financial assets, ending balance | 96,429 | 83,136 | 83,136 | |
12-month expected credit losses | Non-credit impaired | Other financial assets measured at amortised cost | Other financial assets measured at amortised cost | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 874,925 | |||
Financial assets, ending balance | 944,912 | 874,925 | 874,925 | |
12-month expected credit losses | Non-credit impaired | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 343,040 | |||
Financial assets, ending balance | 281,943 | 343,040 | 343,040 | |
12-month expected credit losses | Non-credit impaired | Loans and advances to banks | Other financial assets measured at amortised cost | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 81,622 | |||
Financial assets, ending balance | 95,083 | 81,622 | 81,622 | |
Lifetime expected credit losses | Non-credit impaired | Other financial assets measured at amortised cost | Other financial assets measured at amortised cost | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 4,934 | |||
Financial assets, ending balance | 4,596 | 4,934 | 4,934 | |
Lifetime expected credit losses | Non-credit impaired | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 2,094 | |||
Financial assets, ending balance | 2,262 | 2,094 | 2,094 | |
Lifetime expected credit losses | Non-credit impaired | Loans and advances to banks | Other financial assets measured at amortised cost | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 1,514 | |||
Financial assets, ending balance | 1,286 | 1,514 | 1,514 | |
Lifetime expected credit losses | Credit impaired | Other financial assets measured at amortised cost | Other financial assets measured at amortised cost | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 262 | |||
Financial assets, ending balance | 179 | 262 | 262 | |
Lifetime expected credit losses | Credit impaired | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 0 | |||
Financial assets, ending balance | 2 | 0 | 0 | |
Lifetime expected credit losses | Credit impaired | Loans and advances to banks | Other financial assets measured at amortised cost | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 0 | |||
Financial assets, ending balance | 60 | 0 | 0 | |
Lifetime expected credit losses | POCI | Other financial assets measured at amortised cost | Other financial assets measured at amortised cost | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 37 | |||
Financial assets, ending balance | 39 | 37 | 37 | |
Lifetime expected credit losses | POCI | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 39 | |||
Financial assets, ending balance | 25 | 39 | 39 | |
Lifetime expected credit losses | POCI | Loans and advances to banks | Other financial assets measured at amortised cost | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 0 | |||
Financial assets, ending balance | 0 | 0 | 0 | |
Gross carrying/ nominal amount | Other financial assets measured at amortised cost | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 2,020,735 | |||
Financial assets, ending balance | 2,085,618 | 2,020,735 | 2,020,735 | |
Gross carrying/ nominal amount | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 345,269 | |||
Financial assets, ending balance | 284,352 | 345,269 | 345,269 | |
Gross carrying/ nominal amount | Financial instruments including loan commitments and financial guarantees | IFRS 9 | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 2,676,167 | |||
Financial assets, ending balance | 2,736,295 | 2,676,167 | 2,676,167 | |
Gross carrying/ nominal amount | Loans and advances to bank and customers including loan commitments and financial guarantees | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 1,753,395 | $ 1,750,586 | 1,750,586 | |
New financial assets originated or purchased | 208,664 | 444,194 | ||
Assets derecognised (including final repayments) | (142,886) | (338,311) | ||
Changes to risk parameters – further lending/repayments | (24,003) | (66,752) | ||
Assets written off | (1,280) | (2,617) | ||
Credit-related modifications that resulted in derecognition | (2) | (125) | ||
Foreign exchange | (83,340) | (28,632) | ||
Other | 6,156 | (4,948) | ||
Financial assets, ending balance | 1,716,704 | 1,753,395 | 1,753,395 | |
Gross carrying/ nominal amount | Loans and advances to bank and customers including loan commitments and financial guarantees | Disposal groups classified as held for sale | ||||
Increase (decrease) in financial assets [abstract] | ||||
Other | 3,000 | |||
Gross carrying/ nominal amount | Other financial assets measured at amortised cost | Other financial assets measured at amortised cost | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 880,351 | |||
Financial assets, ending balance | 950,007 | 880,351 | 880,351 | |
Gross carrying/ nominal amount | Other financial assets measured at amortised cost | Other financial assets measured at amortised cost | IFRS 9 | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 880,351 | |||
Financial assets, ending balance | 950,007 | 880,351 | 880,351 | |
Gross carrying/ nominal amount | Non-trading reverse purchase agreement commitments | IFRS 9 | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 42,421 | |||
Financial assets, ending balance | 69,584 | 42,421 | 42,421 | |
Gross carrying/ nominal amount | Non-trading reverse purchase agreement commitments | Other financial assets measured at amortised cost | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 241,648 | |||
Financial assets, ending balance | 244,451 | 241,648 | 241,648 | |
Gross carrying/ nominal amount | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 347,203 | |||
Financial assets, ending balance | 274,765 | 347,203 | 347,203 | |
Gross carrying/ nominal amount | Loans and advances to banks | Other financial assets measured at amortised cost | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 83,153 | |||
Financial assets, ending balance | 96,481 | 83,153 | 83,153 | |
Increase in financial assets | (10,800) | |||
Gross carrying/ nominal amount | 12-month expected credit losses | Non-credit impaired | Loans and advances to bank and customers including loan commitments and financial guarantees | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 1,577,582 | 1,506,451 | 1,506,451 | |
Transfers of financial instruments: | (31,551) | 21,107 | ||
– transfers from stage 1 to stage 2 | (85,624) | (159,633) | ||
– transfers from stage 2 to stage 1 | 54,842 | 182,432 | ||
– transfers to stage 3 | (1,131) | (2,345) | ||
– transfers from stage 3 | 362 | 653 | ||
New financial assets originated or purchased | 208,663 | 444,070 | ||
Assets derecognised (including final repayments) | (123,163) | (304,158) | ||
Changes to risk parameters – further lending/repayments | (23,360) | (61,742) | ||
Foreign exchange | (74,283) | (25,231) | ||
Other | 7,228 | (2,915) | ||
Financial assets, ending balance | 1,541,116 | 1,577,582 | 1,577,582 | |
Gross carrying/ nominal amount | 12-month expected credit losses | Non-credit impaired | Other financial assets measured at amortised cost | Other financial assets measured at amortised cost | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 875,016 | |||
Financial assets, ending balance | 944,983 | 875,016 | 875,016 | |
Gross carrying/ nominal amount | 12-month expected credit losses | Non-credit impaired | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 343,107 | |||
Financial assets, ending balance | 282,006 | 343,107 | 343,107 | |
Gross carrying/ nominal amount | 12-month expected credit losses | Non-credit impaired | Loans and advances to banks | ||||
Increase (decrease) in financial assets [abstract] | ||||
Other | 8,900 | |||
Gross carrying/ nominal amount | 12-month expected credit losses | Non-credit impaired | Loans and advances to banks | Other financial assets measured at amortised cost | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 81,636 | |||
Financial assets, ending balance | 95,091 | 81,636 | 81,636 | |
Gross carrying/ nominal amount | Lifetime expected credit losses | Non-credit impaired | Loans and advances to bank and customers including loan commitments and financial guarantees | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 155,742 | 223,432 | 223,432 | |
Transfers of financial instruments: | 26,697 | (27,863) | ||
– transfers from stage 1 to stage 2 | 85,624 | 159,633 | ||
– transfers from stage 2 to stage 1 | (54,842) | (182,432) | ||
– transfers to stage 3 | (5,059) | (6,478) | ||
– transfers from stage 3 | 974 | 1,414 | ||
Assets derecognised (including final repayments) | (18,234) | (31,393) | ||
Changes to risk parameters – further lending/repayments | (582) | (3,634) | ||
Foreign exchange | (7,897) | (2,918) | ||
Other | (615) | (1,882) | ||
Financial assets, ending balance | 155,111 | 155,742 | 155,742 | |
Gross carrying/ nominal amount | Lifetime expected credit losses | Non-credit impaired | Other financial assets measured at amortised cost | Other financial assets measured at amortised cost | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 4,988 | |||
Financial assets, ending balance | 4,715 | 4,988 | 4,988 | |
Gross carrying/ nominal amount | Lifetime expected credit losses | Non-credit impaired | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 2,116 | |||
Financial assets, ending balance | 2,308 | 2,116 | 2,116 | |
Gross carrying/ nominal amount | Lifetime expected credit losses | Non-credit impaired | Loans and advances to banks | Other financial assets measured at amortised cost | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 1,517 | |||
Financial assets, ending balance | 1,311 | 1,517 | 1,517 | |
Gross carrying/ nominal amount | Lifetime expected credit losses | Credit impaired | Loans and advances to bank and customers including loan commitments and financial guarantees | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 19,797 | 20,424 | 20,424 | |
Transfers of financial instruments: | 4,854 | 6,756 | ||
– transfers to stage 3 | 6,190 | 8,823 | ||
– transfers from stage 3 | (1,336) | (2,067) | ||
Assets derecognised (including final repayments) | (1,391) | (2,750) | ||
Changes to risk parameters – further lending/repayments | (14) | (1,268) | ||
Assets written off | (1,270) | (2,610) | ||
Credit-related modifications that resulted in derecognition | (2) | (125) | ||
Foreign exchange | (1,157) | (479) | ||
Other | (457) | (151) | ||
Financial assets, ending balance | 20,360 | 19,797 | 19,797 | |
Gross carrying/ nominal amount | Lifetime expected credit losses | Credit impaired | Other financial assets measured at amortised cost | Other financial assets measured at amortised cost | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 304 | |||
Financial assets, ending balance | 264 | 304 | 304 | |
Gross carrying/ nominal amount | Lifetime expected credit losses | Credit impaired | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 0 | |||
Financial assets, ending balance | 5 | 0 | 0 | |
Gross carrying/ nominal amount | Lifetime expected credit losses | Credit impaired | Loans and advances to banks | Other financial assets measured at amortised cost | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 0 | |||
Financial assets, ending balance | 79 | 0 | 0 | |
Gross carrying/ nominal amount | Lifetime expected credit losses | POCI | Loans and advances to bank and customers including loan commitments and financial guarantees | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 274 | 279 | 279 | |
New financial assets originated or purchased | 1 | 124 | ||
Assets derecognised (including final repayments) | (98) | (10) | ||
Changes to risk parameters – further lending/repayments | (47) | (108) | ||
Assets written off | (10) | (7) | ||
Foreign exchange | (3) | (4) | ||
Financial assets, ending balance | 117 | 274 | 274 | |
Gross carrying/ nominal amount | Lifetime expected credit losses | POCI | Other financial assets measured at amortised cost | Other financial assets measured at amortised cost | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 43 | |||
Financial assets, ending balance | 45 | 43 | 43 | |
Gross carrying/ nominal amount | Lifetime expected credit losses | POCI | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 46 | |||
Financial assets, ending balance | 33 | 46 | 46 | |
Gross carrying/ nominal amount | Lifetime expected credit losses | POCI | Loans and advances to banks | Other financial assets measured at amortised cost | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 0 | |||
Financial assets, ending balance | 0 | 0 | 0 | |
Allowance for ECL | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | (12,200) | |||
Foreign exchange | (600) | |||
Financial assets, ending balance | (11,600) | (12,200) | (12,200) | |
ECL income statement change for the period | (1,100) | |||
Increase in financial assets | (600) | |||
Allowance for ECL | Other financial assets measured at amortised cost | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | (11,627) | |||
Financial assets, ending balance | (11,107) | (11,627) | (11,627) | |
Allowance for ECL | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | (96) | |||
Financial assets, ending balance | (120) | (96) | (96) | |
Allowance for ECL | Financial instruments including loan commitments and financial guarantees | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | (12,164) | |||
Financial assets, ending balance | (11,606) | (12,164) | (12,164) | |
Total ECL income statement change for the period | (1,090) | 928 | ||
Allowance for ECL | Financial instruments including loan commitments and financial guarantees | IFRS 9 | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | (12,068) | |||
Financial assets, ending balance | (11,486) | (12,068) | (12,068) | |
Total ECL income statement change for the period | (1,068) | 880 | ||
Allowance for ECL | Loans and advances to bank and customers including loan commitments and financial guarantees | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | (11,875) | (15,391) | (15,391) | |
Net remeasurement of ECL arising from transfer of stage | 136 | 595 | ||
New financial assets originated or purchased | (224) | (553) | ||
Assets derecognised (including final repayments) | 430 | 1,127 | ||
Changes to risk parameters – further lending/repayments | 468 | 1,633 | ||
Changes to risk parameters – credit quality | 1,718 | (2,227) | ||
Changes to models used for ECL calculation | (45) | (49) | ||
Assets written off | 1,280 | 2,612 | ||
Credit-related modifications that resulted in derecognition | 1 | |||
Foreign exchange | 532 | 229 | ||
Other | 82 | 149 | ||
Financial assets, ending balance | (11,205) | (11,875) | (11,875) | |
ECL income statement change for the period | (1,225) | 526 | ||
Recoveries | 158 | 409 | ||
Other | 5 | (111) | ||
Total ECL income statement change for the period | (1,062) | 118 | 706 | 824 |
Increase in financial assets | (670) | |||
Increase relating to volume movements | 674 | |||
Exchange and other movements | 614 | |||
Allowance for ECL | Loans and advances to bank and customers including loan commitments and financial guarantees | Disposal groups classified as held for sale | ||||
Increase (decrease) in financial assets [abstract] | ||||
Other | 123 | |||
Allowance for ECL | Other financial assets measured at amortised cost | Other financial assets measured at amortised cost | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | (193) | |||
Financial assets, ending balance | (281) | (193) | (193) | |
Allowance for ECL | Other financial assets measured at amortised cost | Other financial assets measured at amortised cost | IFRS 9 | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | (193) | |||
Financial assets, ending balance | (281) | (193) | (193) | |
Total ECL income statement change for the period | (20) | (19) | ||
Allowance for ECL | Non-trading reverse purchase agreement commitments | Other financial assets measured at amortised cost | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 0 | |||
Financial assets, ending balance | 0 | 0 | 0 | |
Allowance for ECL | Performance and other guarantees not considered for IFRS 9 | IFRS 9 | ||||
Increase (decrease) in financial assets [abstract] | ||||
Total ECL income statement change for the period | 14 | 75 | ||
Allowance for ECL | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | (96) | |||
Financial assets, ending balance | (120) | (96) | (96) | |
Total ECL income statement change for the period | (22) | 48 | ||
Allowance for ECL | Loans and advances to banks | Other financial assets measured at amortised cost | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | (17) | |||
Financial assets, ending balance | (52) | (17) | (17) | |
Allowance for ECL | 12-month expected credit losses | Non-credit impaired | Loans and advances to bank and customers including loan commitments and financial guarantees | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | (1,557) | (2,331) | (2,331) | |
Transfers of financial instruments: | (362) | (1,792) | ||
– transfers from stage 1 to stage 2 | 192 | 527 | ||
– transfers from stage 2 to stage 1 | (531) | (2,279) | ||
– transfers to stage 3 | 6 | 24 | ||
– transfers from stage 3 | (29) | (64) | ||
Net remeasurement of ECL arising from transfer of stage | 304 | 1,225 | ||
New financial assets originated or purchased | (223) | (553) | ||
Assets derecognised (including final repayments) | 72 | 174 | ||
Changes to risk parameters – further lending/repayments | 185 | 547 | ||
Changes to risk parameters – credit quality | 255 | 1,111 | ||
Changes to models used for ECL calculation | (9) | (17) | ||
Foreign exchange | 70 | 26 | ||
Other | 11 | 53 | ||
Financial assets, ending balance | (1,254) | (1,557) | (1,557) | |
ECL income statement change for the period | 584 | 2,487 | ||
Allowance for ECL | 12-month expected credit losses | Non-credit impaired | Other financial assets measured at amortised cost | Other financial assets measured at amortised cost | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | (91) | |||
Financial assets, ending balance | (71) | (91) | (91) | |
Allowance for ECL | 12-month expected credit losses | Non-credit impaired | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | (67) | |||
Financial assets, ending balance | (63) | (67) | (67) | |
Allowance for ECL | 12-month expected credit losses | Non-credit impaired | Loans and advances to banks | Other financial assets measured at amortised cost | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | (14) | |||
Financial assets, ending balance | (8) | (14) | (14) | |
Allowance for ECL | Lifetime expected credit losses | Non-credit impaired | Loans and advances to bank and customers including loan commitments and financial guarantees | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | (3,326) | (5,403) | (5,403) | |
Transfers of financial instruments: | 809 | 2,601 | ||
– transfers from stage 1 to stage 2 | (192) | (527) | ||
– transfers from stage 2 to stage 1 | 531 | 2,279 | ||
– transfers to stage 3 | 590 | 1,010 | ||
– transfers from stage 3 | (120) | (161) | ||
Net remeasurement of ECL arising from transfer of stage | (379) | (596) | ||
Assets derecognised (including final repayments) | 166 | 489 | ||
Changes to risk parameters – further lending/repayments | 53 | 498 | ||
Changes to risk parameters – credit quality | (700) | (1,012) | ||
Changes to models used for ECL calculation | (34) | (33) | ||
Foreign exchange | 154 | 45 | ||
Other | 56 | 85 | ||
Financial assets, ending balance | (3,201) | (3,326) | (3,326) | |
ECL income statement change for the period | (894) | (654) | ||
Allowance for ECL | Lifetime expected credit losses | Non-credit impaired | Other financial assets measured at amortised cost | Other financial assets measured at amortised cost | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | (54) | |||
Financial assets, ending balance | (119) | (54) | (54) | |
Allowance for ECL | Lifetime expected credit losses | Non-credit impaired | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | (22) | |||
Financial assets, ending balance | (46) | (22) | (22) | |
Allowance for ECL | Lifetime expected credit losses | Non-credit impaired | Loans and advances to banks | Other financial assets measured at amortised cost | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | (3) | |||
Financial assets, ending balance | (25) | (3) | (3) | |
Allowance for ECL | Lifetime expected credit losses | Credit impaired | Loans and advances to bank and customers including loan commitments and financial guarantees | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | (6,928) | (7,544) | (7,544) | |
Transfers of financial instruments: | (447) | (809) | ||
– transfers to stage 3 | (596) | (1,034) | ||
– transfers from stage 3 | 149 | 225 | ||
Net remeasurement of ECL arising from transfer of stage | (61) | (34) | ||
Assets derecognised (including final repayments) | 192 | 458 | ||
Changes to risk parameters – further lending/repayments | 227 | 576 | ||
Changes to risk parameters – credit quality | (1,292) | (2,354) | ||
Changes to models used for ECL calculation | (2) | 1 | ||
Assets written off | 1,271 | 2,605 | ||
Credit-related modifications that resulted in derecognition | 1 | |||
Foreign exchange | 307 | 157 | ||
Other | 25 | 16 | ||
Financial assets, ending balance | (6,707) | (6,928) | (6,928) | |
ECL income statement change for the period | (936) | (1,353) | ||
Allowance for ECL | Lifetime expected credit losses | Credit impaired | Other financial assets measured at amortised cost | Other financial assets measured at amortised cost | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | (42) | |||
Financial assets, ending balance | (85) | (42) | (42) | |
Allowance for ECL | Lifetime expected credit losses | Credit impaired | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 0 | |||
Financial assets, ending balance | (3) | 0 | 0 | |
Allowance for ECL | Lifetime expected credit losses | Credit impaired | Loans and advances to banks | Other financial assets measured at amortised cost | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 0 | |||
Financial assets, ending balance | (19) | 0 | 0 | |
Allowance for ECL | Lifetime expected credit losses | POCI | Loans and advances to bank and customers including loan commitments and financial guarantees | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | (64) | $ (113) | (113) | |
New financial assets originated or purchased | (1) | |||
Assets derecognised (including final repayments) | 6 | |||
Changes to risk parameters – further lending/repayments | 3 | 12 | ||
Changes to risk parameters – credit quality | 19 | 28 | ||
Assets written off | 9 | 7 | ||
Foreign exchange | 1 | 1 | ||
Other | (10) | (5) | ||
Financial assets, ending balance | (43) | (64) | (64) | |
ECL income statement change for the period | 21 | 46 | ||
Allowance for ECL | Lifetime expected credit losses | POCI | Other financial assets measured at amortised cost | Other financial assets measured at amortised cost | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | (6) | |||
Financial assets, ending balance | (6) | (6) | (6) | |
Allowance for ECL | Lifetime expected credit losses | POCI | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | (7) | |||
Financial assets, ending balance | (8) | (7) | (7) | |
Allowance for ECL | Lifetime expected credit losses | POCI | Loans and advances to banks | Other financial assets measured at amortised cost | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 0 | |||
Financial assets, ending balance | $ 0 | $ 0 | $ 0 |
Report of the directors fina_16
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 | Jun. 30, 2022 | Dec. 31, 2021 |
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 2,724,809 | $ 2,664,099 |
Loans and advances to customers at amortised cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,028,356 | 1,045,814 |
Loans and advances to banks at amortised cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 96,429 | 83,136 |
Loans and other credit-related commitments | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 632,754 | 627,258 |
Loans and other credit-related commitments | 12-month expected credit losses | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 608,465 | 594,308 |
Loans and other credit-related commitments | Lifetime expected credit losses | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 23,328 | 32,215 |
Loans and other credit-related commitments | Lifetime expected credit losses | Credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 961 | 735 |
Loans and other credit-related commitments | Lifetime expected credit losses | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
Financial guarantees | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 17,544 | 27,733 |
Financial guarantees | 12-month expected credit losses | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 15,192 | 24,921 |
Financial guarantees | Lifetime expected credit losses | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 2,189 | 2,608 |
Financial guarantees | Lifetime expected credit losses | Credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 163 | 204 |
Financial guarantees | Lifetime expected credit losses | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
Debt instruments measured at amortised cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 154,219 | 97,302 |
Debt instruments measured at amortised cost | Loans and advances to customers at amortised cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,028,356 | 1,045,814 |
Debt instruments measured at amortised cost | Loans and advances to banks at amortised cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 96,429 | 83,136 |
Debt instruments measured at amortised cost | Other financial assets measured at amortised cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 949,726 | 880,158 |
Debt instruments measured at amortised cost | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 98,827 | 75,668 |
Debt instruments measured at amortised cost | 12-month expected credit losses | Loans and advances to customers at amortised cost | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 890,706 | 917,569 |
Debt instruments measured at amortised cost | 12-month expected credit losses | Loans and advances to banks at amortised cost | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 95,083 | 81,622 |
Debt instruments measured at amortised cost | 12-month expected credit losses | Other financial assets measured at amortised cost | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 944,912 | 874,925 |
Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to customers at amortised cost | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 125,107 | 116,105 |
Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to customers at amortised cost | Credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 12,469 | 11,930 |
Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to customers at amortised cost | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 74 | 210 |
Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to banks at amortised cost | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,286 | 1,514 |
Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to banks at amortised cost | Credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 60 | 0 |
Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to banks at amortised cost | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Debt instruments measured at amortised cost | Lifetime expected credit losses | Other financial assets measured at amortised cost | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 4,596 | 4,934 |
Debt instruments measured at amortised cost | Lifetime expected credit losses | Other financial assets measured at amortised cost | Credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 179 | 262 |
Debt instruments measured at amortised cost | Lifetime expected credit losses | Other financial assets measured at amortised cost | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 39 | 37 |
Debt instruments at FVOCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 284,232 | 345,173 |
Debt instruments at FVOCI | 12-month expected credit losses | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 281,943 | 343,040 |
Debt instruments at FVOCI | Lifetime expected credit losses | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 2,262 | 2,094 |
Debt instruments at FVOCI | Lifetime expected credit losses | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | Credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 2 | 0 |
Debt instruments at FVOCI | Lifetime expected credit losses | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 25 | 39 |
Gross carrying/notional amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 650,677 | 655,432 |
Financial assets and off-balance sheet loan commitments | 2,736,295 | 2,676,167 |
Gross carrying/notional amount | Loans and other credit-related commitments | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 633,091 | 627,637 |
Gross carrying/notional amount | Loans and other credit-related commitments | 12-month expected credit losses | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 608,589 | 594,473 |
Gross carrying/notional amount | Loans and other credit-related commitments | Lifetime expected credit losses | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 23,487 | 32,389 |
Gross carrying/notional amount | Loans and other credit-related commitments | Lifetime expected credit losses | Credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 1,015 | 775 |
Gross carrying/notional amount | Loans and other credit-related commitments | Lifetime expected credit losses | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
Gross carrying/notional amount | Financial guarantees | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 17,586 | 27,795 |
Gross carrying/notional amount | Financial guarantees | 12-month expected credit losses | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 15,198 | 24,932 |
Gross carrying/notional amount | Financial guarantees | Lifetime expected credit losses | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 2,208 | 2,638 |
Gross carrying/notional amount | Financial guarantees | Lifetime expected credit losses | Credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 180 | 225 |
Gross carrying/notional amount | Financial guarantees | Lifetime expected credit losses | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
Gross carrying/notional amount | Debt instruments measured at amortised cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 2,085,618 | 2,020,735 |
Gross carrying/notional amount | Debt instruments measured at amortised cost | Loans and advances to customers at amortised cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,039,130 | 1,057,231 |
Gross carrying/notional amount | Debt instruments measured at amortised cost | Loans and advances to banks at amortised cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 96,481 | 83,153 |
Gross carrying/notional amount | Debt instruments measured at amortised cost | Other financial assets measured at amortised cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 950,007 | 880,351 |
Gross carrying/notional amount | Debt instruments measured at amortised cost | 12-month expected credit losses | Loans and advances to customers at amortised cost | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 891,822 | 918,936 |
Gross carrying/notional amount | Debt instruments measured at amortised cost | 12-month expected credit losses | Loans and advances to banks at amortised cost | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 95,091 | 81,636 |
Gross carrying/notional amount | Debt instruments measured at amortised cost | 12-month expected credit losses | Other financial assets measured at amortised cost | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 944,983 | 875,016 |
Gross carrying/notional amount | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to customers at amortised cost | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 128,105 | 119,224 |
Gross carrying/notional amount | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to customers at amortised cost | Credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 19,086 | 18,797 |
Gross carrying/notional amount | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to customers at amortised cost | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 117 | 274 |
Gross carrying/notional amount | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to banks at amortised cost | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,311 | 1,517 |
Gross carrying/notional amount | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to banks at amortised cost | Credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 79 | 0 |
Gross carrying/notional amount | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to banks at amortised cost | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Gross carrying/notional amount | Debt instruments measured at amortised cost | Lifetime expected credit losses | Other financial assets measured at amortised cost | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 4,715 | 4,988 |
Gross carrying/notional amount | Debt instruments measured at amortised cost | Lifetime expected credit losses | Other financial assets measured at amortised cost | Credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 264 | 304 |
Gross carrying/notional amount | Debt instruments measured at amortised cost | Lifetime expected credit losses | Other financial assets measured at amortised cost | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 45 | 43 |
Gross carrying/notional amount | Debt instruments at FVOCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 284,352 | 345,269 |
Gross carrying/notional amount | Debt instruments at FVOCI | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 274,765 | 347,203 |
Gross carrying/notional amount | Debt instruments at FVOCI | 12-month expected credit losses | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 282,006 | 343,107 |
Gross carrying/notional amount | Debt instruments at FVOCI | Lifetime expected credit losses | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 2,308 | 2,116 |
Gross carrying/notional amount | Debt instruments at FVOCI | Lifetime expected credit losses | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | Credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 5 | 0 |
Gross carrying/notional amount | Debt instruments at FVOCI | Lifetime expected credit losses | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 33 | 46 |
Gross carrying/notional amount | Strong | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets and off-balance sheet loan commitments | 1,850,073 | 1,798,075 |
Gross carrying/notional amount | Strong | Loans and other credit-related commitments | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 399,238 | 389,865 |
Gross carrying/notional amount | Strong | Loans and other credit-related commitments | 12-month expected credit losses | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 397,945 | 387,434 |
Gross carrying/notional amount | Strong | Loans and other credit-related commitments | Lifetime expected credit losses | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 1,293 | 2,431 |
Gross carrying/notional amount | Strong | Loans and other credit-related commitments | Lifetime expected credit losses | Credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
Gross carrying/notional amount | Strong | Loans and other credit-related commitments | Lifetime expected credit losses | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
Gross carrying/notional amount | Strong | Financial guarantees | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 7,065 | 16,511 |
Gross carrying/notional amount | Strong | Financial guarantees | 12-month expected credit losses | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 7,008 | 16,351 |
Gross carrying/notional amount | Strong | Financial guarantees | Lifetime expected credit losses | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 57 | 160 |
Gross carrying/notional amount | Strong | Financial guarantees | Lifetime expected credit losses | Credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
Gross carrying/notional amount | Strong | Financial guarantees | Lifetime expected credit losses | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
Gross carrying/notional amount | Strong | Debt instruments measured at amortised cost | Loans and advances to customers at amortised cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 524,443 | 544,695 |
Gross carrying/notional amount | Strong | Debt instruments measured at amortised cost | Loans and advances to banks at amortised cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 87,017 | 72,978 |
Gross carrying/notional amount | Strong | Debt instruments measured at amortised cost | Other financial assets measured at amortised cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 832,310 | 774,026 |
Gross carrying/notional amount | Strong | Debt instruments measured at amortised cost | 12-month expected credit losses | Loans and advances to customers at amortised cost | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 511,234 | 537,642 |
Gross carrying/notional amount | Strong | Debt instruments measured at amortised cost | 12-month expected credit losses | Loans and advances to banks at amortised cost | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 86,906 | 72,903 |
Gross carrying/notional amount | Strong | Debt instruments measured at amortised cost | 12-month expected credit losses | Other financial assets measured at amortised cost | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 831,582 | 773,427 |
Gross carrying/notional amount | Strong | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to customers at amortised cost | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 13,209 | 7,053 |
Gross carrying/notional amount | Strong | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to customers at amortised cost | Credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Gross carrying/notional amount | Strong | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to customers at amortised cost | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Gross carrying/notional amount | Strong | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to banks at amortised cost | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 111 | 75 |
Gross carrying/notional amount | Strong | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to banks at amortised cost | Credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Gross carrying/notional amount | Strong | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to banks at amortised cost | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Gross carrying/notional amount | Strong | Debt instruments measured at amortised cost | Lifetime expected credit losses | Other financial assets measured at amortised cost | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 728 | 599 |
Gross carrying/notional amount | Strong | Debt instruments measured at amortised cost | Lifetime expected credit losses | Other financial assets measured at amortised cost | Credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Gross carrying/notional amount | Strong | Debt instruments measured at amortised cost | Lifetime expected credit losses | Other financial assets measured at amortised cost | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Gross carrying/notional amount | Strong | Debt instruments at FVOCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 262,506 | 320,161 |
Gross carrying/notional amount | Strong | Debt instruments at FVOCI | 12-month expected credit losses | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 262,420 | 319,557 |
Gross carrying/notional amount | Strong | Debt instruments at FVOCI | Lifetime expected credit losses | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 86 | 604 |
Gross carrying/notional amount | Strong | Debt instruments at FVOCI | Lifetime expected credit losses | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | Credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Gross carrying/notional amount | Strong | Debt instruments at FVOCI | Lifetime expected credit losses | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Gross carrying/notional amount | Good | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets and off-balance sheet loan commitments | 456,017 | 447,210 |
Gross carrying/notional amount | Good | Loans and other credit-related commitments | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 136,087 | 136,297 |
Gross carrying/notional amount | Good | Loans and other credit-related commitments | 12-month expected credit losses | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 129,260 | 129,455 |
Gross carrying/notional amount | Good | Loans and other credit-related commitments | Lifetime expected credit losses | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 6,827 | 6,842 |
Gross carrying/notional amount | Good | Loans and other credit-related commitments | Lifetime expected credit losses | Credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
Gross carrying/notional amount | Good | Loans and other credit-related commitments | Lifetime expected credit losses | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
Gross carrying/notional amount | Good | Financial guarantees | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 4,504 | 4,902 |
Gross carrying/notional amount | Good | Financial guarantees | 12-month expected credit losses | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 4,227 | 4,469 |
Gross carrying/notional amount | Good | Financial guarantees | Lifetime expected credit losses | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 277 | 433 |
Gross carrying/notional amount | Good | Financial guarantees | Lifetime expected credit losses | Credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
Gross carrying/notional amount | Good | Financial guarantees | Lifetime expected credit losses | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
Gross carrying/notional amount | Good | Debt instruments measured at amortised cost | Loans and advances to customers at amortised cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 239,180 | 230,326 |
Gross carrying/notional amount | Good | Debt instruments measured at amortised cost | Loans and advances to banks at amortised cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 4,169 | 4,037 |
Gross carrying/notional amount | Good | Debt instruments measured at amortised cost | Other financial assets measured at amortised cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 72,077 | 71,648 |
Gross carrying/notional amount | Good | Debt instruments measured at amortised cost | 12-month expected credit losses | Loans and advances to customers at amortised cost | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 208,847 | 206,645 |
Gross carrying/notional amount | Good | Debt instruments measured at amortised cost | 12-month expected credit losses | Loans and advances to banks at amortised cost | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 4,088 | 3,935 |
Gross carrying/notional amount | Good | Debt instruments measured at amortised cost | 12-month expected credit losses | Other financial assets measured at amortised cost | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 70,175 | 70,508 |
Gross carrying/notional amount | Good | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to customers at amortised cost | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 30,333 | 23,681 |
Gross carrying/notional amount | Good | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to customers at amortised cost | Credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Gross carrying/notional amount | Good | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to customers at amortised cost | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Gross carrying/notional amount | Good | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to banks at amortised cost | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 81 | 102 |
Gross carrying/notional amount | Good | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to banks at amortised cost | Credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Gross carrying/notional amount | Good | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to banks at amortised cost | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Gross carrying/notional amount | Good | Debt instruments measured at amortised cost | Lifetime expected credit losses | Other financial assets measured at amortised cost | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,902 | 1,140 |
Gross carrying/notional amount | Good | Debt instruments measured at amortised cost | Lifetime expected credit losses | Other financial assets measured at amortised cost | Credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Gross carrying/notional amount | Good | Debt instruments measured at amortised cost | Lifetime expected credit losses | Other financial assets measured at amortised cost | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Gross carrying/notional amount | Good | Debt instruments at FVOCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 10,790 | 12,298 |
Gross carrying/notional amount | Good | Debt instruments at FVOCI | 12-month expected credit losses | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 10,762 | 12,196 |
Gross carrying/notional amount | Good | Debt instruments at FVOCI | Lifetime expected credit losses | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 28 | 102 |
Gross carrying/notional amount | Good | Debt instruments at FVOCI | Lifetime expected credit losses | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | Credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Gross carrying/notional amount | Good | Debt instruments at FVOCI | Lifetime expected credit losses | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Gross carrying/notional amount | Satisfactory | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets and off-balance sheet loan commitments | 370,546 | 369,625 |
Gross carrying/notional amount | Satisfactory | Loans and other credit-related commitments | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 89,993 | 92,558 |
Gross carrying/notional amount | Satisfactory | Loans and other credit-related commitments | 12-month expected credit losses | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 79,384 | 76,043 |
Gross carrying/notional amount | Satisfactory | Loans and other credit-related commitments | Lifetime expected credit losses | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 10,609 | 16,515 |
Gross carrying/notional amount | Satisfactory | Loans and other credit-related commitments | Lifetime expected credit losses | Credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
Gross carrying/notional amount | Satisfactory | Loans and other credit-related commitments | Lifetime expected credit losses | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
Gross carrying/notional amount | Satisfactory | Financial guarantees | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 4,787 | 5,166 |
Gross carrying/notional amount | Satisfactory | Financial guarantees | 12-month expected credit losses | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 3,807 | 3,929 |
Gross carrying/notional amount | Satisfactory | Financial guarantees | Lifetime expected credit losses | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 980 | 1,237 |
Gross carrying/notional amount | Satisfactory | Financial guarantees | Lifetime expected credit losses | Credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
Gross carrying/notional amount | Satisfactory | Financial guarantees | Lifetime expected credit losses | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
Gross carrying/notional amount | Satisfactory | Debt instruments measured at amortised cost | Loans and advances to customers at amortised cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 227,371 | 233,739 |
Gross carrying/notional amount | Satisfactory | Debt instruments measured at amortised cost | Loans and advances to banks at amortised cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 4,121 | 5,020 |
Gross carrying/notional amount | Satisfactory | Debt instruments measured at amortised cost | Other financial assets measured at amortised cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 44,274 | 33,142 |
Gross carrying/notional amount | Satisfactory | Debt instruments measured at amortised cost | 12-month expected credit losses | Loans and advances to customers at amortised cost | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 166,552 | 169,809 |
Gross carrying/notional amount | Satisfactory | Debt instruments measured at amortised cost | 12-month expected credit losses | Loans and advances to banks at amortised cost | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 4,096 | 4,788 |
Gross carrying/notional amount | Satisfactory | Debt instruments measured at amortised cost | 12-month expected credit losses | Other financial assets measured at amortised cost | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 43,167 | 30,997 |
Gross carrying/notional amount | Satisfactory | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to customers at amortised cost | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 60,819 | 63,930 |
Gross carrying/notional amount | Satisfactory | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to customers at amortised cost | Credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Gross carrying/notional amount | Satisfactory | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to customers at amortised cost | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Gross carrying/notional amount | Satisfactory | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to banks at amortised cost | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 25 | 232 |
Gross carrying/notional amount | Satisfactory | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to banks at amortised cost | Credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Gross carrying/notional amount | Satisfactory | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to banks at amortised cost | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Gross carrying/notional amount | Satisfactory | Debt instruments measured at amortised cost | Lifetime expected credit losses | Other financial assets measured at amortised cost | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,107 | 2,145 |
Gross carrying/notional amount | Satisfactory | Debt instruments measured at amortised cost | Lifetime expected credit losses | Other financial assets measured at amortised cost | Credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Gross carrying/notional amount | Satisfactory | Debt instruments measured at amortised cost | Lifetime expected credit losses | Other financial assets measured at amortised cost | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Gross carrying/notional amount | Satisfactory | Debt instruments at FVOCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 8,935 | 11,677 |
Gross carrying/notional amount | Satisfactory | Debt instruments at FVOCI | 12-month expected credit losses | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 8,824 | 11,354 |
Gross carrying/notional amount | Satisfactory | Debt instruments at FVOCI | Lifetime expected credit losses | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 111 | 323 |
Gross carrying/notional amount | Satisfactory | Debt instruments at FVOCI | Lifetime expected credit losses | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | Credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Gross carrying/notional amount | Satisfactory | Debt instruments at FVOCI | Lifetime expected credit losses | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Gross carrying/notional amount | Sub-standard | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets and off-balance sheet loan commitments | 38,874 | 40,843 |
Gross carrying/notional amount | Sub-standard | Loans and other credit-related commitments | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 6,758 | 8,142 |
Gross carrying/notional amount | Sub-standard | Loans and other credit-related commitments | 12-month expected credit losses | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 2,000 | 1,541 |
Gross carrying/notional amount | Sub-standard | Loans and other credit-related commitments | Lifetime expected credit losses | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 4,758 | 6,601 |
Gross carrying/notional amount | Sub-standard | Loans and other credit-related commitments | Lifetime expected credit losses | Credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
Gross carrying/notional amount | Sub-standard | Loans and other credit-related commitments | Lifetime expected credit losses | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
Gross carrying/notional amount | Sub-standard | Financial guarantees | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 1,050 | 991 |
Gross carrying/notional amount | Sub-standard | Financial guarantees | 12-month expected credit losses | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 156 | 183 |
Gross carrying/notional amount | Sub-standard | Financial guarantees | Lifetime expected credit losses | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 894 | 808 |
Gross carrying/notional amount | Sub-standard | Financial guarantees | Lifetime expected credit losses | Credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
Gross carrying/notional amount | Sub-standard | Financial guarantees | Lifetime expected credit losses | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
Gross carrying/notional amount | Sub-standard | Debt instruments measured at amortised cost | Loans and advances to customers at amortised cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 28,934 | 29,404 |
Gross carrying/notional amount | Sub-standard | Debt instruments measured at amortised cost | Loans and advances to banks at amortised cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,095 | 1,118 |
Gross carrying/notional amount | Sub-standard | Debt instruments measured at amortised cost | Other financial assets measured at amortised cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,037 | 1,188 |
Gross carrying/notional amount | Sub-standard | Debt instruments measured at amortised cost | 12-month expected credit losses | Loans and advances to customers at amortised cost | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 5,189 | 4,840 |
Gross carrying/notional amount | Sub-standard | Debt instruments measured at amortised cost | 12-month expected credit losses | Loans and advances to banks at amortised cost | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1 | 10 |
Gross carrying/notional amount | Sub-standard | Debt instruments measured at amortised cost | 12-month expected credit losses | Other financial assets measured at amortised cost | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 59 | 84 |
Gross carrying/notional amount | Sub-standard | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to customers at amortised cost | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 23,744 | 24,560 |
Gross carrying/notional amount | Sub-standard | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to customers at amortised cost | Credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Gross carrying/notional amount | Sub-standard | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to customers at amortised cost | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1 | 4 |
Gross carrying/notional amount | Sub-standard | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to banks at amortised cost | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,094 | 1,108 |
Gross carrying/notional amount | Sub-standard | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to banks at amortised cost | Credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Gross carrying/notional amount | Sub-standard | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to banks at amortised cost | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Gross carrying/notional amount | Sub-standard | Debt instruments measured at amortised cost | Lifetime expected credit losses | Other financial assets measured at amortised cost | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 978 | 1,104 |
Gross carrying/notional amount | Sub-standard | Debt instruments measured at amortised cost | Lifetime expected credit losses | Other financial assets measured at amortised cost | Credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Gross carrying/notional amount | Sub-standard | Debt instruments measured at amortised cost | Lifetime expected credit losses | Other financial assets measured at amortised cost | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Gross carrying/notional amount | Sub-standard | Debt instruments at FVOCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 2,083 | 1,087 |
Gross carrying/notional amount | Sub-standard | Debt instruments at FVOCI | 12-month expected credit losses | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Gross carrying/notional amount | Sub-standard | Debt instruments at FVOCI | Lifetime expected credit losses | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 2,083 | 1,087 |
Gross carrying/notional amount | Sub-standard | Debt instruments at FVOCI | Lifetime expected credit losses | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | Credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Gross carrying/notional amount | Sub-standard | Debt instruments at FVOCI | Lifetime expected credit losses | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Gross carrying/notional amount | Credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets and off-balance sheet loan commitments | 20,785 | 20,414 |
Gross carrying/notional amount | 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 | 1,015 | 775 |
Gross carrying/notional amount | Credit impaired | Loans and other credit-related commitments | 12-month expected credit losses | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
Gross carrying/notional amount | Credit impaired | Loans and other credit-related commitments | Lifetime expected credit losses | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
Gross carrying/notional amount | Credit impaired | Loans and other credit-related commitments | Lifetime expected credit losses | Credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 1,015 | 775 |
Gross carrying/notional amount | Credit impaired | Loans and other credit-related commitments | Lifetime expected credit losses | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
Gross carrying/notional amount | Credit impaired | Financial guarantees | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 180 | 225 |
Gross carrying/notional amount | Credit impaired | Financial guarantees | 12-month expected credit losses | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
Gross carrying/notional amount | Credit impaired | Financial guarantees | Lifetime expected credit losses | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
Gross carrying/notional amount | Credit impaired | Financial guarantees | Lifetime expected credit losses | Credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 180 | 225 |
Gross carrying/notional amount | Credit impaired | Financial guarantees | Lifetime expected credit losses | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
Gross carrying/notional amount | Credit impaired | Debt instruments measured at amortised cost | Loans and advances to customers at amortised cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 19,202 | 19,067 |
Gross carrying/notional amount | Credit impaired | Debt instruments measured at amortised cost | Loans and advances to banks at amortised cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 79 | 0 |
Gross carrying/notional amount | Credit impaired | Debt instruments measured at amortised cost | Other financial assets measured at amortised cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 309 | 347 |
Gross carrying/notional amount | Credit impaired | Debt instruments measured at amortised cost | 12-month expected credit losses | Loans and advances to customers at amortised cost | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Gross carrying/notional amount | Credit impaired | Debt instruments measured at amortised cost | 12-month expected credit losses | Loans and advances to banks at amortised cost | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Gross carrying/notional amount | Credit impaired | Debt instruments measured at amortised cost | 12-month expected credit losses | Other financial assets measured at amortised cost | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Gross carrying/notional amount | Credit impaired | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to customers at amortised cost | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Gross carrying/notional amount | Credit impaired | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to customers at amortised cost | Credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 19,086 | 18,797 |
Gross carrying/notional amount | Credit impaired | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to customers at amortised cost | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 116 | 270 |
Gross carrying/notional amount | Credit impaired | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to banks at amortised cost | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Gross carrying/notional amount | Credit impaired | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to banks at amortised cost | Credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 79 | 0 |
Gross carrying/notional amount | Credit impaired | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to banks at amortised cost | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Gross carrying/notional amount | Credit impaired | Debt instruments measured at amortised cost | Lifetime expected credit losses | Other financial assets measured at amortised cost | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Gross carrying/notional amount | Credit impaired | Debt instruments measured at amortised cost | Lifetime expected credit losses | Other financial assets measured at amortised cost | Credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 264 | 304 |
Gross carrying/notional amount | Credit impaired | Debt instruments measured at amortised cost | Lifetime expected credit losses | Other financial assets measured at amortised cost | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 45 | 43 |
Gross carrying/notional amount | Credit impaired | Debt instruments at FVOCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 38 | 46 |
Gross carrying/notional amount | Credit impaired | Debt instruments at FVOCI | 12-month expected credit losses | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Gross carrying/notional amount | Credit impaired | Debt instruments at FVOCI | Lifetime expected credit losses | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Gross carrying/notional amount | Credit impaired | Debt instruments at FVOCI | Lifetime expected credit losses | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | Credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 5 | 0 |
Gross carrying/notional amount | Credit impaired | Debt instruments at FVOCI | Lifetime expected credit losses | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 33 | 46 |
Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (11,600) | (12,200) |
Off-balance sheet commitments | (379) | (441) |
Financial assets and off-balance sheet loan commitments | (11,486) | (12,068) |
Allowance for ECL | Loans and other credit-related commitments | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | (337) | (379) |
Allowance for ECL | Loans and other credit-related commitments | 12-month expected credit losses | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | (124) | (165) |
Allowance for ECL | Loans and other credit-related commitments | Lifetime expected credit losses | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | (159) | (174) |
Allowance for ECL | Loans and other credit-related commitments | Lifetime expected credit losses | Credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | (54) | (40) |
Allowance for ECL | Loans and other credit-related commitments | Lifetime expected credit losses | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
Allowance for ECL | Financial guarantees | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | (42) | (62) |
Allowance for ECL | Financial guarantees | 12-month expected credit losses | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | (6) | (11) |
Allowance for ECL | Financial guarantees | Lifetime expected credit losses | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | (19) | (30) |
Allowance for ECL | Financial guarantees | Lifetime expected credit losses | Credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | (17) | (21) |
Allowance for ECL | Financial guarantees | Lifetime expected credit losses | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
Allowance for ECL | Debt instruments measured at amortised cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (11,107) | (11,627) |
Allowance for ECL | Debt instruments measured at amortised cost | Loans and advances to customers at amortised cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (10,774) | (11,417) |
Allowance for ECL | Debt instruments measured at amortised cost | Loans and advances to banks at amortised cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (52) | (17) |
Allowance for ECL | Debt instruments measured at amortised cost | Other financial assets measured at amortised cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (281) | (193) |
Allowance for ECL | Debt instruments measured at amortised cost | 12-month expected credit losses | Loans and advances to customers at amortised cost | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (1,116) | (1,367) |
Allowance for ECL | Debt instruments measured at amortised cost | 12-month expected credit losses | Loans and advances to banks at amortised cost | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (8) | (14) |
Allowance for ECL | Debt instruments measured at amortised cost | 12-month expected credit losses | Other financial assets measured at amortised cost | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (71) | (91) |
Allowance for ECL | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to customers at amortised cost | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (2,998) | (3,119) |
Allowance for ECL | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to customers at amortised cost | Credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (6,617) | (6,867) |
Allowance for ECL | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to customers at amortised cost | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (43) | (64) |
Allowance for ECL | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to banks at amortised cost | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (25) | (3) |
Allowance for ECL | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to banks at amortised cost | Credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (19) | 0 |
Allowance for ECL | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to banks at amortised cost | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Allowance for ECL | Debt instruments measured at amortised cost | Lifetime expected credit losses | Other financial assets measured at amortised cost | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (119) | (54) |
Allowance for ECL | Debt instruments measured at amortised cost | Lifetime expected credit losses | Other financial assets measured at amortised cost | Credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (85) | (42) |
Allowance for ECL | Debt instruments measured at amortised cost | Lifetime expected credit losses | Other financial assets measured at amortised cost | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (6) | (6) |
Allowance for ECL | Debt instruments at FVOCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (120) | (96) |
Allowance for ECL | Debt instruments at FVOCI | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (120) | (96) |
Allowance for ECL | Debt instruments at FVOCI | 12-month expected credit losses | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (63) | (67) |
Allowance for ECL | Debt instruments at FVOCI | Lifetime expected credit losses | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | Non-credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (46) | (22) |
Allowance for ECL | Debt instruments at FVOCI | Lifetime expected credit losses | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | Credit impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (3) | 0 |
Allowance for ECL | Debt instruments at FVOCI | Lifetime expected credit losses | Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ (8) | $ (7) |
Report of the directors fina_17
Report of the directors financial review risk report - Trading VaR, 99% 1 day (Details) - Trading portfolios - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 | Jun. 30, 2021 |
Disclosure of financial assets [line items] | |||
Value at risk | $ 36.3 | $ 38.8 | $ 38.7 |
Average | |||
Disclosure of financial assets [line items] | |||
Value at risk | 39.1 | 37.3 | 36.8 |
Maximum | |||
Disclosure of financial assets [line items] | |||
Value at risk | 55.6 | 53.8 | 48.2 |
Minimum | |||
Disclosure of financial assets [line items] | |||
Value at risk | 29.1 | 27.7 | 31.1 |
Foreign exchange and commodity | |||
Disclosure of financial assets [line items] | |||
Value at risk | 11.3 | 9.1 | 13.6 |
Foreign exchange and commodity | Average | |||
Disclosure of financial assets [line items] | |||
Value at risk | 14.2 | 10.9 | 15 |
Foreign exchange and commodity | Maximum | |||
Disclosure of financial assets [line items] | |||
Value at risk | 29.2 | 20 | 31.8 |
Foreign exchange and commodity | Minimum | |||
Disclosure of financial assets [line items] | |||
Value at risk | 5.7 | 6.7 | 6.9 |
Interest rate | |||
Disclosure of financial assets [line items] | |||
Value at risk | 26.8 | 25.9 | 33.5 |
Interest rate | Average | |||
Disclosure of financial assets [line items] | |||
Value at risk | 26.3 | 34.2 | 33.4 |
Interest rate | Maximum | |||
Disclosure of financial assets [line items] | |||
Value at risk | 33.9 | 51.7 | 50.4 |
Interest rate | Minimum | |||
Disclosure of financial assets [line items] | |||
Value at risk | 20.3 | 25.2 | 18.5 |
Equity | |||
Disclosure of financial assets [line items] | |||
Value at risk | 14.6 | 15.4 | 15.8 |
Equity | Average | |||
Disclosure of financial assets [line items] | |||
Value at risk | 14.5 | 16.8 | 16.5 |
Equity | Maximum | |||
Disclosure of financial assets [line items] | |||
Value at risk | 19.2 | 22.7 | 24.3 |
Equity | Minimum | |||
Disclosure of financial assets [line items] | |||
Value at risk | 11.5 | 13.3 | 12.1 |
Credit spread | |||
Disclosure of financial assets [line items] | |||
Value at risk | 16.1 | 24.8 | 18.3 |
Credit spread | Average | |||
Disclosure of financial assets [line items] | |||
Value at risk | 19.1 | 20.2 | 18.1 |
Credit spread | Maximum | |||
Disclosure of financial assets [line items] | |||
Value at risk | 27.9 | 26.9 | 29.4 |
Credit spread | Minimum | |||
Disclosure of financial assets [line items] | |||
Value at risk | 12 | 15.6 | 12.2 |
Portfolio diversification | |||
Disclosure of financial assets [line items] | |||
Value at risk | (32.5) | (36.5) | (42.5) |
Portfolio diversification | Average | |||
Disclosure of financial assets [line items] | |||
Value at risk | $ (35.1) | $ (44.8) | $ (46.2) |
Report of the directors fina_18
Report of the directors financial review risk report - Non-trading VaR, 99% 1 day (Details) - Non-trading portfolios - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 | Jun. 30, 2021 |
Disclosure of financial assets [line items] | |||
Value at risk | $ 120.8 | $ 220.4 | $ 249.5 |
Average | |||
Disclosure of financial assets [line items] | |||
Value at risk | 173.7 | 224.6 | 250.5 |
Maximum | |||
Disclosure of financial assets [line items] | |||
Value at risk | 265.3 | 268.4 | 298.8 |
Minimum | |||
Disclosure of financial assets [line items] | |||
Value at risk | 119.1 | 194.6 | 193.5 |
Interest rate | |||
Disclosure of financial assets [line items] | |||
Value at risk | 113.3 | 216.4 | 193.7 |
Interest rate | Average | |||
Disclosure of financial assets [line items] | |||
Value at risk | 148.4 | 200.3 | 201.1 |
Interest rate | Maximum | |||
Disclosure of financial assets [line items] | |||
Value at risk | 225.5 | 235.7 | 248.7 |
Interest rate | Minimum | |||
Disclosure of financial assets [line items] | |||
Value at risk | 109.2 | 179.3 | 163.3 |
Credit spread | |||
Disclosure of financial assets [line items] | |||
Value at risk | 53.3 | 70.3 | 73.8 |
Credit spread | Average | |||
Disclosure of financial assets [line items] | |||
Value at risk | 61.9 | 73.4 | 80.5 |
Credit spread | Maximum | |||
Disclosure of financial assets [line items] | |||
Value at risk | 84.7 | 79.9 | 99.3 |
Credit spread | Minimum | |||
Disclosure of financial assets [line items] | |||
Value at risk | 50.3 | 68.7 | 64.7 |
Portfolio diversification | |||
Disclosure of financial assets [line items] | |||
Value at risk | (45.7) | (66.3) | (18) |
Portfolio diversification | Average | |||
Disclosure of financial assets [line items] | |||
Value at risk | $ (36.7) | $ (49.1) | $ (31.2) |
Report of the directors fina_19
Report of the directors financial review risk report - Balance sheet of insurance manufacturing subsidiaries by type of contract (Details) - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 | Jun. 30, 2021 | Dec. 31, 2020 |
Disclosure of financial assets [line items] | ||||
– trading assets | $ 217,350 | $ 248,842 | ||
– derivatives | 262,923 | 196,882 | ||
Total assets | 2,985,420 | 2,957,939 | ||
Deferred tax liabilities | 2,894 | 4,673 | ||
Total liabilities | 2,788,730 | 2,751,162 | ||
Total equity | 196,690 | 206,777 | $ 206,764 | $ 204,995 |
Total equity and liabilities | 2,985,420 | 2,957,939 | ||
Insurance manufacturing subsidiaries | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 126,751 | 127,657 | ||
– trading assets | 0 | 0 | ||
Financial assets at fair value | 42,908 | 44,682 | ||
– derivatives | 236 | 147 | ||
– financial investments – at amortised cost | 64,407 | 61,593 | ||
– financial investments – at fair value through other comprehensive income | 11,174 | 13,268 | ||
Other financial assets | 8,026 | 7,967 | ||
Reinsurance assets | 4,181 | 3,921 | ||
PVIF | 10,437 | 9,453 | ||
Other assets and investment properties | 3,690 | 3,585 | ||
Total assets | 145,059 | 144,616 | ||
Liabilities under investment contracts designated at fair value | 5,584 | 5,938 | ||
Liabilities under insurance contracts | 113,195 | 112,807 | ||
Deferred tax liabilities | 1,861 | 1,630 | ||
Other liabilities | 7,113 | 7,269 | ||
Total liabilities | 127,753 | 127,644 | ||
Total equity | 17,306 | 16,972 | ||
Total equity and liabilities | 145,059 | 144,616 | ||
Assets and liabilities related to insurance contracts | Insurance manufacturing subsidiaries | With DPF | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 89,110 | 88,969 | ||
– trading assets | 0 | 0 | ||
Financial assets at fair value | 29,688 | 30,669 | ||
– derivatives | 210 | 129 | ||
– financial investments – at amortised cost | 44,257 | 42,001 | ||
– financial investments – at fair value through other comprehensive income | 8,992 | 10,858 | ||
Other financial assets | 5,963 | 5,312 | ||
Reinsurance assets | 2,270 | 2,180 | ||
PVIF | 0 | 0 | ||
Other assets and investment properties | 2,498 | 2,558 | ||
Total assets | 93,878 | 93,707 | ||
Liabilities under investment contracts designated at fair value | 0 | 0 | ||
Liabilities under insurance contracts | 90,169 | 89,492 | ||
Deferred tax liabilities | 223 | 179 | ||
Other liabilities | 0 | 0 | ||
Total liabilities | 90,392 | 89,671 | ||
Total equity | 0 | 0 | ||
Total equity and liabilities | 90,392 | 89,671 | ||
Assets and liabilities related to insurance contracts | Insurance manufacturing subsidiaries | Unit- linked | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 8,294 | 8,881 | ||
– trading assets | 0 | 0 | ||
Financial assets at fair value | 8,073 | 8,605 | ||
– derivatives | 0 | 1 | ||
– financial investments – at amortised cost | 57 | 61 | ||
– financial investments – at fair value through other comprehensive income | 0 | 0 | ||
Other financial assets | 164 | 214 | ||
Reinsurance assets | 67 | 72 | ||
PVIF | 0 | 0 | ||
Other assets and investment properties | 4 | 1 | ||
Total assets | 8,365 | 8,954 | ||
Liabilities under investment contracts designated at fair value | 2,177 | 2,297 | ||
Liabilities under insurance contracts | 5,558 | 6,558 | ||
Deferred tax liabilities | 5 | 9 | ||
Other liabilities | 0 | 0 | ||
Total liabilities | 7,740 | 8,864 | ||
Total equity | 0 | 0 | ||
Total equity and liabilities | 7,740 | 8,864 | ||
Assets and liabilities related to insurance contracts | Insurance manufacturing subsidiaries | Other contracts | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 20,912 | 19,856 | ||
– trading assets | 0 | 0 | ||
Financial assets at fair value | 3,752 | 3,581 | ||
– derivatives | 21 | 15 | ||
– financial investments – at amortised cost | 15,683 | 14,622 | ||
– financial investments – at fair value through other comprehensive income | 432 | 459 | ||
Other financial assets | 1,024 | 1,179 | ||
Reinsurance assets | 1,841 | 1,666 | ||
PVIF | 0 | 0 | ||
Other assets and investment properties | 224 | 206 | ||
Total assets | 22,977 | 21,728 | ||
Liabilities under investment contracts designated at fair value | 3,407 | 3,641 | ||
Liabilities under insurance contracts | 17,468 | 16,757 | ||
Deferred tax liabilities | 17 | 24 | ||
Other liabilities | 0 | 0 | ||
Total liabilities | 20,892 | 20,422 | ||
Total equity | 0 | 0 | ||
Total equity and liabilities | 20,892 | 20,422 | ||
Shareholder assets and liabilities | Insurance manufacturing subsidiaries | ||||
Disclosure of financial assets [line items] | ||||
Financial assets | 8,435 | 9,951 | ||
– trading assets | 0 | 0 | ||
Financial assets at fair value | 1,395 | 1,827 | ||
– derivatives | 5 | 2 | ||
– financial investments – at amortised cost | 4,410 | 4,909 | ||
– financial investments – at fair value through other comprehensive income | 1,750 | 1,951 | ||
Other financial assets | 875 | 1,262 | ||
Reinsurance assets | 3 | 3 | ||
PVIF | 10,437 | 9,453 | ||
Other assets and investment properties | 964 | 820 | ||
Total assets | 19,839 | 20,227 | ||
Liabilities under investment contracts designated at fair value | 0 | 0 | ||
Liabilities under insurance contracts | 0 | 0 | ||
Deferred tax liabilities | 1,616 | 1,418 | ||
Other liabilities | 7,113 | 7,269 | ||
Total liabilities | 8,729 | 8,687 | ||
Total equity | 17,306 | 16,972 | ||
Total equity and liabilities | $ 26,035 | $ 25,659 |
Report of the directors fina_20
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 | 6 Months Ended | 12 Months Ended |
Jun. 30, 2022 | Dec. 31, 2021 | |
Disclosure of financial assets [line items] | ||
+100 basis point parallel shift in yield curves, effect on profit after tax | $ (136) | $ (2) |
+100 basis point parallel shift in yield curves, effect on equity | (270) | (142) |
-100 basis point parallel shift in yield curves, effect on profit after tax | (47) | (154) |
-100 basis point parallel shift in yield curves, effect on equity | 92 | (9) |
10% increase in equity prices, effect on profit after tax | 373 | 369 |
10% increase in equity prices, effect on equity | 373 | 369 |
10% decrease in equity prices, effect on profit after tax | (388) | (377) |
10% decrease in equity prices, effect on equity | (388) | (377) |
10% increase in US dollar exchange rate compared with all currencies, effect on profit after tax | 126 | 80 |
10% increase in US dollar exchange rate compared with all currencies, effect on equity | 126 | 80 |
10% decrease in US dollar exchange rate compared with all currencies, effect on profit after tax | (127) | (80) |
10% decrease in US dollar exchange rate compared with all currencies, effect on equity | $ (127) | $ (80) |
Report of the directors fina_21
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 | Jun. 30, 2022 | Dec. 31, 2021 |
Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (11,600) | $ (12,200) |
Debt instruments measured at amortised cost | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 154,219 | 97,302 |
Debt instruments measured at amortised cost | Gross carrying/ nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 2,085,618 | 2,020,735 |
Debt instruments measured at amortised cost | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | (11,107) | (11,627) |
Loans and advances to customers | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 1,028,356 | 1,045,814 |
Loans and advances to customers | Debt instruments measured at amortised cost | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 1,028,356 | 1,045,814 |
Loans and advances to customers | Debt instruments measured at amortised cost | Gross carrying/ nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 1,039,130 | 1,057,231 |
Loans and advances to customers | Debt instruments measured at amortised cost | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | (10,774) | (11,417) |
Loans and advances to customers | Debt instruments measured at amortised cost | 12-month expected credit losses | Non-credit impaired | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 890,706 | 917,569 |
Loans and advances to customers | Debt instruments measured at amortised cost | 12-month expected credit losses | Non-credit impaired | Gross carrying/ nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 891,822 | 918,936 |
Loans and advances to customers | Debt instruments measured at amortised cost | 12-month expected credit losses | Non-credit impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | (1,116) | (1,367) |
Loans and advances to customers | Debt instruments measured at amortised cost | Lifetime expected credit losses | Non-credit impaired | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 125,107 | 116,105 |
Loans and advances to customers | Debt instruments measured at amortised cost | Lifetime expected credit losses | Non-credit impaired | Gross carrying/ nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 128,105 | 119,224 |
Loans and advances to customers | Debt instruments measured at amortised cost | Lifetime expected credit losses | Non-credit impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | (2,998) | (3,119) |
Loans and advances to customers | Debt instruments measured at amortised cost | Lifetime expected credit losses | Credit impaired | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 12,469 | 11,930 |
Loans and advances to customers | Debt instruments measured at amortised cost | Lifetime expected credit losses | Credit impaired | Gross carrying/ nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 19,086 | 18,797 |
Loans and advances to customers | Debt instruments measured at amortised cost | Lifetime expected credit losses | Credit impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | (6,617) | (6,867) |
Loans and advances to customers | Debt instruments measured at amortised cost | Lifetime expected credit losses | POCI | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 74 | 210 |
Loans and advances to customers | Debt instruments measured at amortised cost | Lifetime expected credit losses | POCI | Gross carrying/ nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 117 | 274 |
Loans and advances to customers | Debt instruments measured at amortised cost | Lifetime expected credit losses | POCI | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | (43) | (64) |
Loans and advances to banks | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 96,429 | 83,136 |
Loans and advances to banks | Debt instruments measured at amortised cost | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 96,429 | 83,136 |
Loans and advances to banks | Debt instruments measured at amortised cost | Gross carrying/ nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 96,481 | 83,153 |
Loans and advances to banks | Debt instruments measured at amortised cost | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | (52) | (17) |
Loans and advances to banks | Debt instruments measured at amortised cost | 12-month expected credit losses | Non-credit impaired | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 95,083 | 81,622 |
Loans and advances to banks | Debt instruments measured at amortised cost | 12-month expected credit losses | Non-credit impaired | Gross carrying/ nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 95,091 | 81,636 |
Loans and advances to banks | Debt instruments measured at amortised cost | 12-month expected credit losses | Non-credit impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | (8) | (14) |
Loans and advances to banks | Debt instruments measured at amortised cost | Lifetime expected credit losses | Non-credit impaired | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 1,286 | 1,514 |
Loans and advances to banks | Debt instruments measured at amortised cost | Lifetime expected credit losses | Non-credit impaired | Gross carrying/ nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 1,311 | 1,517 |
Loans and advances to banks | Debt instruments measured at amortised cost | Lifetime expected credit losses | Non-credit impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | (25) | (3) |
Loans and advances to banks | Debt instruments measured at amortised cost | Lifetime expected credit losses | Credit impaired | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 60 | 0 |
Loans and advances to banks | Debt instruments measured at amortised cost | Lifetime expected credit losses | Credit impaired | Gross carrying/ nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 79 | 0 |
Loans and advances to banks | Debt instruments measured at amortised cost | Lifetime expected credit losses | Credit impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | (19) | 0 |
Loans and advances to banks | Debt instruments measured at amortised cost | Lifetime expected credit losses | POCI | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 0 | 0 |
Loans and advances to banks | Debt instruments measured at amortised cost | Lifetime expected credit losses | POCI | Gross carrying/ nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 0 | 0 |
Loans and advances to banks | Debt instruments measured at amortised cost | Lifetime expected credit losses | POCI | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 0 | 0 |
Other financial assets | Debt instruments measured at amortised cost | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 949,726 | 880,158 |
Other financial assets | Debt instruments measured at amortised cost | Gross carrying/ nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 950,007 | 880,351 |
Other financial assets | Debt instruments measured at amortised cost | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | (281) | (193) |
Other financial assets | Debt instruments measured at amortised cost | 12-month expected credit losses | Non-credit impaired | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 944,912 | 874,925 |
Other financial assets | Debt instruments measured at amortised cost | 12-month expected credit losses | Non-credit impaired | Gross carrying/ nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 944,983 | 875,016 |
Other financial assets | Debt instruments measured at amortised cost | 12-month expected credit losses | Non-credit impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | (71) | (91) |
Other financial assets | Debt instruments measured at amortised cost | Lifetime expected credit losses | Non-credit impaired | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 4,596 | 4,934 |
Other financial assets | Debt instruments measured at amortised cost | Lifetime expected credit losses | Non-credit impaired | Gross carrying/ nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 4,715 | 4,988 |
Other financial assets | Debt instruments measured at amortised cost | Lifetime expected credit losses | Non-credit impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | (119) | (54) |
Other financial assets | Debt instruments measured at amortised cost | Lifetime expected credit losses | Credit impaired | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 179 | 262 |
Other financial assets | Debt instruments measured at amortised cost | Lifetime expected credit losses | Credit impaired | Gross carrying/ nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 264 | 304 |
Other financial assets | Debt instruments measured at amortised cost | Lifetime expected credit losses | Credit impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | (85) | (42) |
Other financial assets | Debt instruments measured at amortised cost | Lifetime expected credit losses | POCI | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 39 | 37 |
Other financial assets | Debt instruments measured at amortised cost | Lifetime expected credit losses | POCI | Gross carrying/ nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 45 | 43 |
Other financial assets | Debt instruments measured at amortised cost | Lifetime expected credit losses | POCI | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | (6) | (6) |
– personal | Loans and advances to customers | Debt instruments measured at amortised cost | Gross carrying/ nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 463,621 | 478,337 |
– personal | Loans and advances to customers | Debt instruments measured at amortised cost | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | (2,918) | (3,103) |
– corporate and commercial | Loans and advances to customers | Debt instruments measured at amortised cost | Gross carrying/ nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 509,566 | 513,539 |
– corporate and commercial | Loans and advances to customers | Debt instruments measured at amortised cost | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | (7,684) | (8,204) |
– non-bank financial institutions | Loans and advances to customers | Debt instruments measured at amortised cost | Gross carrying/ nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 65,943 | 65,355 |
– non-bank financial institutions | Loans and advances to customers | Debt instruments measured at amortised cost | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (172) | $ (110) |
Report of the directors fina_22
Report of the directors financial review risk report - Stage 2 days past due analysis (Details) - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021 |
Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ (11,600) | $ (12,200) |
Loans and advances to customers | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,028,356 | 1,045,814 |
Loans and advances to banks | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 96,429 | 83,136 |
Debt instruments measured at amortised cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 154,219 | 97,302 |
Debt instruments measured at amortised cost | Gross carrying/ nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 2,085,618 | 2,020,735 |
Debt instruments measured at amortised cost | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (11,107) | (11,627) |
Debt instruments measured at amortised cost | Loans and advances to customers | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,028,356 | 1,045,814 |
Debt instruments measured at amortised cost | Loans and advances to customers | Gross carrying/ nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,039,130 | 1,057,231 |
Debt instruments measured at amortised cost | Loans and advances to customers | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (10,774) | (11,417) |
Debt instruments measured at amortised cost | Loans and advances to banks | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 96,429 | 83,136 |
Debt instruments measured at amortised cost | Loans and advances to banks | Gross carrying/ nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 96,481 | 83,153 |
Debt instruments measured at amortised cost | Loans and advances to banks | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (52) | (17) |
Debt instruments measured at amortised cost | Other financial assets measured at amortised cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 949,726 | 880,158 |
Debt instruments measured at amortised cost | Other financial assets measured at amortised cost | Gross carrying/ nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 950,007 | 880,351 |
Debt instruments measured at amortised cost | Other financial assets measured at amortised cost | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (281) | (193) |
Non-credit impaired | Lifetime expected credit losses | Debt instruments measured at amortised cost | Loans and advances to customers | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 125,107 | 116,105 |
Non-credit impaired | Lifetime expected credit losses | Debt instruments measured at amortised cost | Loans and advances to customers | Gross carrying/ nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 128,105 | 119,224 |
Non-credit impaired | Lifetime expected credit losses | Debt instruments measured at amortised cost | Loans and advances to customers | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (2,998) | (3,119) |
Non-credit impaired | Lifetime expected credit losses | Debt instruments measured at amortised cost | Loans and advances to banks | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,286 | 1,514 |
Non-credit impaired | Lifetime expected credit losses | Debt instruments measured at amortised cost | Loans and advances to banks | Gross carrying/ nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,311 | 1,517 |
Non-credit impaired | Lifetime expected credit losses | Debt instruments measured at amortised cost | Loans and advances to banks | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (25) | (3) |
Non-credit impaired | Lifetime expected credit losses | Debt instruments measured at amortised cost | Other financial assets measured at amortised cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 4,596 | 4,934 |
Non-credit impaired | Lifetime expected credit losses | Debt instruments measured at amortised cost | Other financial assets measured at amortised cost | Gross carrying/ nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 4,715 | 4,988 |
Non-credit impaired | Lifetime expected credit losses | Debt instruments measured at amortised cost | Other financial assets measured at amortised cost | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (119) | (54) |
– personal | Debt instruments measured at amortised cost | Loans and advances to customers | Gross carrying/ nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 463,621 | 478,337 |
– personal | Debt instruments measured at amortised cost | Loans and advances to customers | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (2,918) | (3,103) |
– corporate and commercial | Debt instruments measured at amortised cost | Loans and advances to customers | Gross carrying/ nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 509,566 | 513,539 |
– corporate and commercial | Debt instruments measured at amortised cost | Loans and advances to customers | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (7,684) | (8,204) |
– non-bank financial institutions | Debt instruments measured at amortised cost | Loans and advances to customers | Gross carrying/ nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 65,943 | 65,355 |
– non-bank financial institutions | Debt instruments measured at amortised cost | Loans and advances to customers | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ (172) | $ (110) |
Report of the directors fina_23
Report of the directors financial review risk report - Reconciliation of gross carrying/notional amount and allow. for loans and advances to banks and customers incl. loan commitments and financial guarantees - Narrative (Details) - USD ($) $ in Millions | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Allowance for ECL | |||
Disclosure of financial assets at date of initial application of IFRS 9 [line items] | |||
Decrease in financial assets | $ (600) | ||
Financial assets | (11,600) | $ (12,200) | |
ECL income statement change for the period | 1,100 | ||
Allowance for ECL | Loans and advances to bank and customers including loan commitments and financial guarantees | |||
Disclosure of financial assets at date of initial application of IFRS 9 [line items] | |||
Decrease in financial assets | (670) | ||
Financial assets | (11,205) | (11,875) | $ (15,391) |
Assets written off | 1,280 | 2,612 | |
Decrease relating to foreign exchange and all other movements | 614 | ||
Decrease relating to underlying credit quality changes | (1,718) | 2,227 | |
Increase relating to net remeasurement of ECL arising from transfer of stage | (136) | (595) | |
Increase (decrease) through volume movements | 674 | ||
ECL income statement change for the period | 1,225 | (526) | |
Changes to models used for ECL calculation | (45) | (49) | |
Increase (decrease) through other movements, financial assets | (82) | (149) | |
Allowance for ECL | Loans and advances to bank and customers including loan commitments and financial guarantees | Non-current assets held for sale [member] | |||
Disclosure of financial assets at date of initial application of IFRS 9 [line items] | |||
Increase (decrease) through other movements, financial assets | (147) | ||
Gross carrying/ nominal amount | Loans and advances to bank and customers including loan commitments and financial guarantees | |||
Disclosure of financial assets at date of initial application of IFRS 9 [line items] | |||
Financial assets | 1,716,704 | 1,753,395 | $ 1,750,586 |
Assets written off | (1,280) | (2,617) | |
Increase (decrease) through other movements, financial assets | (6,156) | $ 4,948 | |
Gross carrying/ nominal amount | Loans and advances to bank and customers including loan commitments and financial guarantees | Non-current assets or disposal groups classified as held for sale [member] | |||
Disclosure of financial assets at date of initial application of IFRS 9 [line items] | |||
Increase (decrease) through other movements, financial assets | $ (2,800) |
Report of the directors fina_24
Report of the directors financial review risk report - Distribution of financial instruments by credit quality (Details) - USD ($) $ in Billions | Jun. 30, 2022 | Dec. 31, 2021 |
Impairment allowances | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ (11.6) | $ (12.2) |
Report of the directors fina_25
Report of the directors financial review risk report - Movement in impairment allowances on loans and advances to customers and banks (Details) - Impairment allowances $ in Billions | 6 Months Ended |
Jun. 30, 2022 USD ($) | |
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |
At the beginning of the period | $ 12.2 |
At the end of the period | $ 11.6 |