Document and Entity Information
Document and Entity Information | 6 Months Ended |
Jun. 30, 2020 | |
Document And Entity Information [Abstract] | |
Entity Registrant Name | HSBC HOLDINGS PLC |
Entity Central Index Key | 0001089113 |
Document Period End Date | Jun. 30, 2020 |
Document Type | 6-K |
Current Fiscal Year End Date | --12-31 |
Document Fiscal Year Focus | 2020 |
Document Fiscal Period Focus | Q2 |
Amendment Flag | false |
Consolidated income statement
Consolidated income statement - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2020 | Dec. 31, 2019 | Jun. 30, 2019 | |
Profit or loss [abstract] | |||
Net interest income | $ 14,509 | $ 15,222 | $ 15,240 |
– interest income | 23,000 | 26,945 | 27,750 |
– interest expense | (8,491) | (11,723) | (12,510) |
Net fee income | 5,926 | 5,899 | 6,124 |
– fee income | 7,480 | 7,635 | 7,804 |
– fee expense | (1,554) | (1,736) | (1,680) |
Net income from financial instruments held for trading or managed on a fair value basis | 5,768 | 4,900 | 5,331 |
Net income/(expense) from assets and liabilities of insurance businesses, including related derivatives, measured at fair value through profit or loss | (1,290) | 1,282 | 2,196 |
Change in fair value of designated debt and related derivatives | 197 | 2 | 88 |
Changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss | 80 | 355 | 457 |
Gains less losses from financial investments | 466 | 134 | 201 |
Net insurance premium income | 5,020 | 4,313 | 6,323 |
Other operating income | 471 | 885 | 2,072 |
Total operating income | 31,147 | 32,992 | 38,032 |
Net insurance claims and benefits paid and movement in liabilities to policyholders | (4,402) | (6,266) | (8,660) |
Net operating income before change in expected credit losses and other credit impairment charges | 26,745 | 26,726 | 29,372 |
Change in expected credit losses and other credit impairment charges | (6,858) | (1,616) | (1,140) |
Net operating income | 19,887 | 25,110 | 28,232 |
Employee compensation and benefits | (8,514) | (8,747) | (9,255) |
General and administrative expenses | (4,918) | (7,456) | (6,372) |
Depreciation and impairment of property, plant and equipment and right-of-use assets | (1,209) | (1,090) | (1,010) |
Amortisation and impairment of intangible assets | (1,845) | (558) | (512) |
Goodwill impairment | (41) | (7,349) | 0 |
Total operating expenses | (16,527) | (25,200) | (17,149) |
Operating profit/(loss) | 3,360 | (90) | 11,083 |
Share of profit in associates and joint ventures | 958 | 1,030 | 1,324 |
Profit before tax | 4,318 | 940 | 12,407 |
Tax expense | (1,193) | (2,169) | (2,470) |
Profit/(loss) for the period | 3,125 | (1,229) | 9,937 |
Attributable to: | |||
– ordinary shareholders of the parent company | 1,977 | (2,538) | 8,507 |
– preference shareholders of the parent company | 45 | 45 | 45 |
– other equity holders | 617 | 660 | 664 |
– non-controlling interests | 486 | 604 | 721 |
Profit/(loss) for the period | $ 3,125 | $ (1,229) | $ 9,937 |
Basic earnings per ordinary share (in dollars per share) | $ 0.10 | $ (0.13) | $ 0.42 |
Diluted earnings per ordinary share (in dollars per share) | $ 0.10 | $ (0.13) | $ 0.42 |
Consolidated statement of compr
Consolidated statement of comprehensive income - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2020 | Dec. 31, 2019 | Jun. 30, 2019 | |
Statement of comprehensive income [abstract] | |||
Profit/(loss) for the period | $ 3,125 | $ (1,229) | $ 9,937 |
Items that will be reclassified subsequently to profit or loss when specific conditions are met: | |||
Debt instruments at fair value through other comprehensive income | 1,747 | 137 | 1,015 |
– fair value gains/(losses) | 2,654 | (348) | 2,141 |
– fair value (gains)/losses transferred to the income statement on disposal | (454) | 429 | (794) |
– expected credit recoveries/(losses) recognised in the income statement | 109 | 114 | (5) |
– income taxes | (562) | (58) | (327) |
Cash flow hedges | 476 | (33) | 239 |
– fair value gains | 255 | 310 | 241 |
– fair value losses/(gains) reclassified to the income statement | 364 | (354) | 68 |
– income taxes and other movements | (143) | 11 | (70) |
Share of other comprehensive income/(expense) of associates and joint ventures | (115) | (52) | 73 |
– share for the period | (115) | (64) | 85 |
– fair value (gains)/losses transferred to the income statement on disposal | 0 | 12 | (12) |
Exchange differences | (4,552) | 935 | 109 |
Items that will not be reclassified subsequently to profit or loss: | |||
Remeasurement of defined benefit asset/liability | 1,182 | 58 | (45) |
– before income taxes | 1,703 | 33 | (50) |
– income taxes | (521) | 25 | 5 |
Changes in fair value of financial liabilities designated at fair value upon initial recognition arising from changes in own credit risk | 2,354 | (557) | (1,445) |
– before income taxes | 2,936 | (823) | (1,816) |
– income taxes | (582) | 266 | 371 |
Equity instruments designated at fair value through other comprehensive income | (123) | 98 | 268 |
– fair value gains/(losses) | (122) | 99 | 265 |
– income taxes | (1) | (1) | 3 |
Effects of hyperinflation | 72 | 104 | 113 |
Other comprehensive expense for the period, net of tax | 1,041 | 690 | 327 |
Total comprehensive income/(expense) for the period | 4,166 | (539) | 10,264 |
Attributable to: | |||
– ordinary shareholders of the parent company | 3,043 | (1,903) | 8,741 |
– preference shareholders of the parent company | 45 | 45 | 45 |
– other equity holders | 617 | 660 | 664 |
– non-controlling interests | 461 | 659 | 814 |
Total comprehensive income/(expense) for the period | $ 4,166 | $ (539) | $ 10,264 |
Consolidated balance sheet
Consolidated balance sheet - USD ($) $ in Millions | Jun. 30, 2020 | Dec. 31, 2019 |
Assets | ||
Cash and balances at central banks | $ 249,673 | $ 154,099 |
Items in the course of collection from other banks | 6,289 | 4,956 |
Hong Kong Government certificates of indebtedness | 39,519 | 38,380 |
Trading assets | 208,964 | 254,271 |
Financial assets designated and otherwise mandatorily measured at fair value through profit and loss | 41,785 | 43,627 |
Derivatives | 313,781 | 242,995 |
Loans and advances to banks | 77,015 | 69,203 |
Loans and advances to customers | 1,018,681 | 1,036,743 |
Reverse repurchase agreements – non-trading | 226,345 | 240,862 |
Financial investments | 494,109 | 443,312 |
Prepayments, accrued income and other assets | 197,425 | 136,680 |
Current tax assets | 821 | 755 |
Interests in associates and joint ventures | 24,800 | 24,474 |
Goodwill and intangible assets | 19,438 | 20,163 |
Deferred tax assets | 4,153 | 4,632 |
Total assets | 2,922,798 | 2,715,152 |
Liabilities | ||
Hong Kong currency notes in circulation | 39,519 | 38,380 |
Deposits by banks | 82,715 | 59,022 |
Customer accounts | 1,532,380 | 1,439,115 |
Repurchase agreements – non-trading | 112,799 | 140,344 |
Items in the course of transmission to other banks | 6,296 | 4,817 |
Trading liabilities | 79,612 | 83,170 |
Financial liabilities designated at fair value | 156,608 | 164,466 |
Derivatives | 303,059 | 239,497 |
Debt securities in issue | 110,114 | 104,555 |
Accruals, deferred income and other liabilities | 173,181 | 118,156 |
Current tax liabilities | 1,141 | 2,150 |
Liabilities under insurance contracts | 98,832 | 97,439 |
Provisions | 3,209 | 3,398 |
Deferred tax liabilities | 4,491 | 3,375 |
Subordinated liabilities | 23,621 | 24,600 |
Total liabilities | 2,727,577 | 2,522,484 |
Equity | ||
Called up share capital | 10,346 | 10,319 |
Share premium account | 14,268 | 13,959 |
Other equity instruments | 20,914 | 20,871 |
Other reserves | (301) | 2,127 |
Retained earnings | 141,809 | 136,679 |
Total shareholders’ equity | 187,036 | 183,955 |
Non-controlling interests | 8,185 | 8,713 |
Total equity | 195,221 | 192,668 |
Total liabilities and equity | $ 2,922,798 | $ 2,715,152 |
Consolidated statement of cash
Consolidated statement of cash flows - USD ($) $ in Millions | 6 Months Ended | |||
Jun. 30, 2020 | Dec. 31, 2019 | Jun. 30, 2019 | ||
Cash flows from operating activities | ||||
Profit before tax | $ 4,318 | $ 940 | $ 12,407 | |
Adjustments for non-cash items: | ||||
Depreciation, amortisation and impairment | 3,095 | 8,997 | 1,522 | |
Net gain from investing activities | (405) | (47) | (352) | |
Share of profits in associates and joint ventures | (958) | (1,030) | (1,324) | |
Gain on disposal of subsidiaries, businesses, associates and joint ventures | 0 | (101) | (828) | |
Change in expected credit losses gross of recoveries and other credit impairment charges | 6,875 | 1,665 | 1,347 | |
Provisions including pensions | 277 | 1,411 | 1,012 | |
Share-based payment expense | 195 | 190 | 288 | |
Other non-cash items included in profit before tax | (718) | (896) | (1,401) | |
Change in operating assets | 11,185 | 9,818 | (114,049) | |
Change in operating liabilities | 134,734 | (20,544) | 136,627 | |
Elimination of exchange differences | [1] | 3,775 | 6,524 | (10,266) |
Dividends received from associates | 120 | 463 | 170 | |
Contributions paid to defined benefit plans | (335) | (380) | (153) | |
Tax paid | (2,373) | (920) | (1,347) | |
Net cash from operating activities | 159,785 | 6,090 | 23,653 | |
Cash flows from investing activities | ||||
Purchase of financial investments | (271,830) | (211,145) | (234,762) | |
Proceeds from the sale and maturity of financial investments | 225,733 | 208,586 | 204,600 | |
Net cash flows from the purchase and sale of property, plant and equipment | (447) | (811) | (532) | |
Net cash flows from purchase of customer and loan portfolios | 244 | 683 | 435 | |
Net investment in intangible assets | (957) | (1,338) | (951) | |
Net cash flow on (purchase)/disposal of subsidiaries, businesses, associates and joint ventures | (409) | (8) | (75) | |
Net cash from investing activities | (47,666) | (4,033) | (31,285) | |
Cash flows from financing activities | ||||
Cancellation of shares | 0 | (1,000) | 0 | |
Net sales/(purchases) of own shares for market-making and investment purposes | (48) | 114 | 27 | |
Redemption of preference shares and other equity instruments | (398) | 0 | 0 | |
Subordinated loan capital repaid | (1,538) | (72) | (4,138) | |
Dividends paid to shareholders of the parent company and non-controlling interests | (1,204) | (5,502) | (4,271) | |
Net cash from financing activities | (3,188) | (6,460) | (8,382) | |
Net increase/(decrease) in cash and cash equivalents | 108,931 | (4,403) | (16,014) | |
Cash and cash equivalents at the beginning of the period | [2] | 293,742 | 296,723 | 312,911 |
Exchange differences in respect of cash and cash equivalents | (7,455) | 1,422 | (174) | |
Cash and cash equivalents at the end of the period | [2] | $ 395,218 | $ 293,742 | $ 296,723 |
[1] | 1Adjustments 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. | |||
[2] | 2At 31 December 2019, HSBC re-presented cash and cash equivalents to reflect a consistent global approach to these amounts. The net effect of these changes decreased cash and cash equivalents by $15.3bn at 30 June 2019. |
Consolidated statement of cas_2
Consolidated statement of cash flows Consolidated statement of cash flows (Parenthetical) $ in Millions | Jun. 30, 2019USD ($) | |
Disclosure of voluntary change in accounting policy [line items] | ||
Cash and cash equivalents | $ 296,723 | [1] |
Change in accounting policy to include the net impact of other cash equivalents not previously included in cash and cash equivalents | Decrease due to changes in accounting policy | ||
Disclosure of voluntary change in accounting policy [line items] | ||
Cash and cash equivalents | $ (15,300) | |
[1] | 2At 31 December 2019, HSBC re-presented cash and cash equivalents to reflect a consistent global approach to these amounts. The net effect of these changes decreased cash and cash equivalents by $15.3bn at 30 June 2019. |
Consolidated statement of chang
Consolidated statement of changes in equity - USD ($) $ in Millions | Total | Total shareholders’ equity | Called up share capital and share premium | Other equity instruments | 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, 2018 | $ 194,249 | $ 186,253 | $ 23,789 | $ 22,367 | $ 138,191 | $ (1,532) | $ (206) | $ (26,133) | $ 29,777 | $ 7,996 | |
Profit for the period | 9,937 | 9,216 | 9,216 | 721 | |||||||
Other comprehensive expense for the period, net of tax | 327 | 234 | (1,297) | 1,202 | 237 | 92 | 93 | ||||
– debt instruments at fair value through other comprehensive income | 1,015 | 1,001 | 1,001 | 14 | |||||||
– equity instruments designated at fair value through other comprehensive income | 268 | 201 | 201 | 67 | |||||||
– cash flow hedges | 239 | 237 | 237 | 2 | |||||||
– changes in fair value of financial liabilities designated at fair value upon initial recognition arising from changes in own credit risk | (1,445) | (1,445) | (1,445) | ||||||||
– remeasurement of defined benefit asset/liability | (45) | (38) | (38) | (7) | |||||||
– share of other comprehensive income of associates and joint ventures | 73 | 73 | 73 | ||||||||
– effects of hyperinflation | 113 | 113 | 113 | ||||||||
– exchange differences | 109 | 92 | 92 | 17 | |||||||
Total comprehensive income/(expense) for the period | 10,264 | 9,450 | 7,919 | 1,202 | 237 | 92 | 814 | ||||
Shares issued under employee remuneration and share plans | 15 | 15 | 490 | (475) | |||||||
Shares issued in lieu of dividends and amounts arising thereon | 1,160 | 1,160 | 1,160 | ||||||||
Dividends to shareholders | (5,431) | (4,915) | (4,915) | (516) | |||||||
Cost of share-based payment arrangements | 255 | 255 | 255 | ||||||||
Other movements | 362 | 458 | 458 | (96) | |||||||
Equity end of period at Jun. 30, 2019 | 200,874 | 192,676 | 24,279 | 22,367 | 142,593 | (330) | 31 | (26,041) | 29,777 | 8,198 | |
Equity beginning of period at Dec. 31, 2018 | 194,249 | 186,253 | 23,789 | 22,367 | 138,191 | (1,532) | (206) | (26,133) | 29,777 | 7,996 | |
Transfers | 2,475 | ||||||||||
Equity end of period at Dec. 31, 2019 | 192,668 | 183,955 | 24,278 | 20,871 | 136,679 | (108) | (2) | (25,133) | 27,370 | 8,713 | |
Equity beginning of period at Jun. 30, 2019 | 200,874 | 192,676 | 24,279 | 22,367 | 142,593 | (330) | 31 | (26,041) | 29,777 | 8,198 | |
Profit for the period | (1,229) | (1,833) | (1,833) | 604 | |||||||
Other comprehensive expense for the period, net of tax | 690 | 635 | (462) | 222 | (33) | 908 | 55 | ||||
– debt instruments at fair value through other comprehensive income | 137 | 145 | 145 | (8) | |||||||
– equity instruments designated at fair value through other comprehensive income | 98 | 77 | 77 | 21 | |||||||
– cash flow hedges | (33) | (33) | (33) | ||||||||
– changes in fair value of financial liabilities designated at fair value upon initial recognition arising from changes in own credit risk | (557) | (557) | (557) | ||||||||
– remeasurement of defined benefit asset/liability | 58 | 43 | 43 | 15 | |||||||
– share of other comprehensive income of associates and joint ventures | (52) | (52) | (52) | ||||||||
– effects of hyperinflation | 104 | 104 | 104 | ||||||||
– exchange differences | 935 | 908 | 908 | 27 | |||||||
Total comprehensive income/(expense) for the period | (539) | (1,198) | (2,295) | 222 | (33) | 908 | 659 | ||||
Shares issued under employee remuneration and share plans | 47 | 47 | 67 | (20) | |||||||
Shares issued in lieu of dividends and amounts arising thereon | 1,527 | 1,527 | 1,527 | ||||||||
Dividends to shareholders | (7,029) | (6,768) | (6,768) | (261) | |||||||
Redemption of securities | [1] | (1,508) | (1,508) | (1,496) | (12) | ||||||
Transfers | [2] | 2,475 | (2,475) | ||||||||
Cost of share-based payment arrangements | 223 | 223 | 223 | ||||||||
Cancellation of shares | [3] | (1,000) | (1,000) | (68) | (1,000) | 68 | |||||
Other movements | 73 | (44) | (44) | 117 | |||||||
Equity end of period at Dec. 31, 2019 | 192,668 | 183,955 | 24,278 | 20,871 | 136,679 | (108) | (2) | (25,133) | 27,370 | 8,713 | |
Profit for the period | 3,125 | 2,639 | 2,639 | 486 | |||||||
Other comprehensive expense for the period, net of tax | 1,041 | 1,066 | 3,506 | 1,654 | 465 | (4,559) | (25) | ||||
– debt instruments at fair value through other comprehensive income | 1,747 | 1,735 | 1,735 | 12 | |||||||
– equity instruments designated at fair value through other comprehensive income | (123) | (81) | (81) | (42) | |||||||
– cash flow hedges | 476 | 465 | 465 | 11 | |||||||
– changes in fair value of financial liabilities designated at fair value upon initial recognition arising from changes in own credit risk | 2,354 | 2,354 | 2,354 | ||||||||
– remeasurement of defined benefit asset/liability | 1,182 | 1,195 | 1,195 | (13) | |||||||
– share of other comprehensive income of associates and joint ventures | (115) | (115) | (115) | ||||||||
– effects of hyperinflation | 72 | 72 | 72 | ||||||||
– exchange differences | (4,552) | (4,559) | (4,559) | 7 | |||||||
Total comprehensive income/(expense) for the period | 4,166 | 3,705 | 6,145 | 1,654 | 465 | (4,559) | 461 | ||||
Shares issued under employee remuneration and share plans | 7 | 7 | 336 | (329) | |||||||
Dividends to shareholders | (1,204) | (662) | (662) | (542) | |||||||
Cost of share-based payment arrangements | 195 | 195 | 195 | ||||||||
Other movements | (611) | (164) | 43 | (219) | 12 | (447) | |||||
Equity end of period at Jun. 30, 2020 | $ 195,221 | $ 187,036 | $ 24,614 | $ 20,914 | $ 141,809 | $ 1,558 | $ 463 | $ (29,692) | $ 27,370 | $ 8,185 | |
[1] | 1In 2019, HSBC Holdings called and later redeemed $1,500m 5.625% perpetual subordinated capital securities on which there were $12m of external issuance costs. | ||||||||||
[2] | 2Permitted transfers from the merger reserve to retained earnings were made when the investment in HSBC Overseas Holdings (UK) Limited was previously impaired. In 2019, an additional impairment of $2,475m was recognised and a permitted transfer of this amount was made from the merger reserve to retained earnings. | ||||||||||
[3] | 3In August 2019, HSBC announced a share buy-back of up to $1.0bn, which was completed in September 2019. |
Consolidated statement of cha_2
Consolidated statement of changes in equity Consolidated statement of changes in equity (Parenthetical) | 12 Months Ended | |
Dec. 31, 2019USD ($) | Aug. 31, 2019USD ($) | |
Retained earnings | ||
Transfers | $ 2,475,000,000 | |
$1,500m 5.625% Perpetual Subordinated Contingent Convertible Securities | HSBC Holdings | Capital securities classified as equity | ||
Notional amount | $ 1,500,000,000 | |
Other equity instruments interest rate | 5.625% | |
Payments for debt issue costs | $ 12,000,000 | |
August 2019 share buy-back program | ||
Authorized amount for share buy-back program | $ 1,000,000,000 |
Basis of preparation and signif
Basis of preparation and significant accounting policies | 6 Months Ended |
Jun. 30, 2020 | |
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 in accordance with the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority and IAS 34 ‘Interim Financial Reporting’, as issued by the International Accounting Standards Board (‘IASB’) and as endorsed by the EU. 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 2019. These financial statements should be read in conjunction with the Annual Report and Accounts 2019 . At 30 June 2020 , there were no unendorsed standards effective for the half-year to 30 June 2020 affecting these financial statements, and there was no difference between IFRSs endorsed 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 2020 There were no new standards or amendments to standards that had an effect on these interim condensed consolidated 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, goodwill impairment, the valuation of financial instruments, deferred tax assets, provisions for liabilities, defined benefit obligations and interests in associates. There were no changes in the current period to the critical accounting estimates and judgements applied in 2019, which are stated on pages 47 and 242 of the Annual Report and Accounts 2019 . However, the level of estimation uncertainty and judgement for the calculation of expected credit losses (‘ECL’) has increased since 31 December 2019 as a result of the economic effects of the Covid-19 outbreak as set out in ‘Measurement uncertainty and sensitivity analysis’ on page 60 . In addition, as a result of the heightened economic uncertainty together with the plans announced in the 2020 business update and historical underperformance of certain businesses, the estimates and judgements with regard to the expected cash flows of cash generating units, which are applied to the impairment of non-financial assets other than goodwill, particularly intangible assets, have become more sensitive and resulted in significant impairment charges in the interim reporting period. See Note 11 ‘Goodwill and intangible assets’ . (c) Composition of Group There were no material changes in the composition of the Group in the half-year to 30 June 2020 . (d) Future accounting developments I FRS 17 ‘Insurance Contracts’ was issued in May 2017, with amendments to the standard issued in June 2020. It has not been endorsed for use in the EU. 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 is 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. (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 that reflect the increasing uncertainty that the global Covid-19 pandemic has had on HSBC’s operations, as well as considering potential impacts from other top and emerging risks, and the related impact on profitability, capital and liquidity. (f) Accounting policies Except as described above, the accounting policies that we applied for these interim condensed consolidated financial statements are consistent with those described on pages 240 to 251 of the Annual Report and Accounts 2019 , as are the methods of computation. |
Net fee income
Net fee income | 6 Months Ended |
Jun. 30, 2020 | |
Analysis of income and expense [abstract] | |
Net fee income | 2 Net fee income Half-year to 30 Jun 30 Jun 31 Dec 2020 2019 2019 Total Total Total Footnotes $m $m $m Net fee income by product Funds under management 1,113 1,067 1,110 Cards 954 968 1,007 Broking income 743 544 513 Credit facilities 726 805 813 Account services 649 1,034 969 Underwriting 552 446 383 Unit trusts 455 546 489 Global custody 446 342 375 Remittances 325 373 374 Imports/exports 288 338 324 Insurance agency commission 171 200 177 Other 1,058 1,141 1,101 Fee income 7,480 7,804 7,635 Less: fee expense (1,554 ) (1,680 ) (1,736 ) Net fee income 5,926 6,124 5,899 Net fee income by global business 1 Wealth and Personal Banking 2,691 2,870 2,765 Commercial Banking 1,630 1,773 1,617 Global Banking and Markets 1,608 1,489 1,550 Corporate Centre (3 ) (8 ) (33 ) 1 A change in reportable segments was made in 2Q20. Comparative data have been re-presented accordingly. For further guidance, refer to Note 5 on page 102 . |
Dividends
Dividends | 6 Months Ended |
Jun. 30, 2020 | |
Interim Financial Reporting [Abstract] | |
Dividends | 3 Dividends On 31 March 2020, HSBC announced that, in response to a request from the Bank of England through the UK’s Prudential Regulation Authority, the Board had cancelled the fourth interim dividend for 2019 of $0.21 per ordinary share, which was scheduled to be paid on 14 April 2020. The Board also announced that until the end of 2020, HSBC will make no quarterly or interim dividend payments or accruals in respect of ordinary shares. The Board intends to provide an update on the dividend policy at the year-end results for 2020, when the economic impact of the Covid-19 outbreak is better understood. We will also take into account the views of our shareholders, the interests of our other stakeholders and other factors, including our financial performance and capital position. Dividends paid to shareholders of HSBC Holdings plc Half-year to 30 Jun 2020 30 Jun 2019 31 Dec 2019 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: – fourth interim dividend — — — 0.21 4,206 1,160 — — — In respect of current year: – first interim dividend 1 — — — — — — 0.10 2,013 375 – second interim dividend — — — — — — 0.10 2,021 795 – third interim dividend — — — — — — 0.10 2,029 357 Total — — — 0.21 4,206 1,160 0.30 6,063 1,527 Total dividends on preference shares classified as equity (paid quarterly) 31.00 45 31.00 45 31.00 45 Total coupons on capital securities classified as equity 617 664 660 Dividends to shareholders 662 4,915 6,768 1 At 30 June 2019, HSBC changed its accounting practice on the recognition of interim dividends to recognise them on the date of payment rather than the date of declaration, in line with generally accepted accounting practice. Total coupons on capital securities classified as equity Half-year to 30 Jun 30 Jun 31 Dec 2020 2019 2019 Total Total Total Footnotes First call date Per security $m $m $m Perpetual subordinated contingent convertible securities 1 – $1,500m issued at 5.625% 2 Nov 2019 $56.250 — 42 42 – $2,000m issued at 6.875% Jun 2021 $68.750 69 69 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 58 59 – €1,500m issued at 5.250% Sep 2022 €52.500 44 45 43 – €1,000m issued at 6.000% Sep 2023 €60.000 33 34 32 – €1,250m issued at 4.750% July 2029 €47.500 33 34 34 – SGD1,000m issued at 4.700% Jun 2022 SGD47.000 17 17 17 – SGD750m issued at 5.000% Sep 2023 SGD50.000 13 14 14 – £1,000m issued at 5.875% Sep 2026 £58.750 36 38 37 Total 617 664 660 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 22 November 2019 and was redeemed and cancelled on 17 January 2020. |
Earnings per share
Earnings per share | 6 Months Ended |
Jun. 30, 2020 | |
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/(loss) attributable to ordinary shareholders of the parent company Half-year to 30 Jun 30 Jun 31 Dec 2020 2019 2019 $m $m $m Profit attributable to shareholders of the parent company 2,639 9,216 (1,833 ) Dividend payable on preference shares classified as equity (45 ) (45 ) (45 ) Coupon payable on capital securities classified as equity (617 ) (664 ) (660 ) Profit/(loss) attributable to ordinary shareholders of the parent company 1,977 8,507 (2,538 ) Basic and diluted earnings per share Half-year to 30 Jun 2020 30 Jun 2019 31 Dec 2019 Profit Number Amount per share Profit Number Amount per share Profit/(loss) Number Amount per share Footnotes $m (millions) $ $m (millions) $ $m (millions) $ Basic 1 1,977 20,162 0.10 8,507 20,124 0.42 (2,538 ) 20,191 (0.13 ) Effect of dilutive potential ordinary shares 58 65 — Diluted 1 1,977 20,220 0.10 8,507 20,189 0.42 (2,538 ) 20,191 (0.13 ) 1 Weighted average number of ordinary shares outstanding (basic) or assuming dilution (diluted). |
Segmental analysis
Segmental analysis | 6 Months Ended |
Jun. 30, 2020 | |
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 present these results on an adjusted basis as required by IFRSs. The 2019 adjusted performance information is presented on a constant currency basis. The income statements for the half-years to 30 June 2019 and 31 December 2019 are converted at the average rates of exchange for 2020, and the balance sheets at 30 June 2019 and 31 December 2019 at the prevailing rates of exchange on 30 June 2020. 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. Change in reportable segments Effective from 2Q20, we made the following realignments within our internal reporting to the GEC and CODM: • We simplified our matrix organisational structure by combining Global Private Banking and Retail Banking and Wealth Management to form Wealth and Personal Banking. • We reallocated our reporting of Balance Sheet Management, hyperinflation accounting in Argentina and Holdings net interest expense from Corporate Centre to the global businesses. Comparative data have been re-presented accordingly. 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 2020 Wealth and Personal Banking Commercial Global Corporate Centre Total Footnotes $m $m $m $m $m Net operating income before change in expected credit losses and other credit impairment charges 1 11,251 7,000 8,178 48 26,477 – external 9,684 7,431 10,105 (743 ) 26,477 – inter-segment 1,567 (431 ) (1,927 ) 791 — of which: net interest income/(expense) 8,032 4,883 2,372 (804 ) 14,483 Change in expected credit losses and other credit impairment charges (2,202 ) (3,526 ) (1,118 ) (12 ) (6,858 ) Net operating income 9,049 3,474 7,060 36 19,619 Total operating expenses (7,346 ) (3,290 ) (4,512 ) 206 (14,942 ) Operating profit 1,703 184 2,548 242 4,677 Share of profit in associates and joint ventures (8 ) — — 966 958 Adjusted profit before tax 1,695 184 2,548 1,208 5,635 % % % % % Share of HSBC’s adjusted profit before tax 30.1 3.3 45.2 21.4 100.0 Adjusted cost efficiency ratio 65.3 47.0 55.2 (429.2 ) 56.4 Adjusted balance sheet data $m $m $m $m $m Loans and advances to customers (net) 429,487 344,567 243,355 1,272 1,018,681 Interests in associates and joint ventures 425 13 136 24,226 24,800 Total external assets 814,719 549,530 1,390,006 168,543 2,922,798 Customer accounts 775,870 418,263 337,573 674 1,532,380 HSBC adjusted profit before tax and balance sheet data (continued) Half-year to 30 Jun 2019 2 Wealth and Personal Banking Commercial Global Corporate Centre Total Footnotes $m $m $m $m $m Net operating income/(expense) before change in expected credit losses and other credit impairment charges 1 12,861 7,647 7,590 (283 ) 27,815 – external 10,747 8,087 10,258 (1,277 ) 27,815 – inter-segment 2,114 (440 ) (2,668 ) 994 — of which: net interest income/(expense) 8,525 5,466 2,667 (1,761 ) 14,897 Change in expected credit losses and other credit impairment (charges)/recoveries (527 ) (478 ) (97 ) 14 (1,088 ) Net operating income/(expense) 12,334 7,169 7,493 (269 ) 26,727 Total operating expenses (7,551 ) (3,258 ) (4,758 ) (172 ) (15,739 ) Operating profit/(loss) 4,783 3,911 2,735 (441 ) 10,988 Share of profit in associates and joint ventures 41 — — 1,244 1,285 Adjusted profit before tax 4,824 3,911 2,735 803 12,273 % % % % % Share of HSBC’s adjusted profit before tax 39.3 31.9 22.3 6.5 100.0 Adjusted cost efficiency ratio 58.7 42.6 62.7 (60.8 ) 56.6 Adjusted balance sheet data $m $m $m $m $m Loans and advances to customers (net) 414,611 340,976 246,209 1,184 1,002,980 Interests in associates and joint ventures 451 12 14 23,046 23,523 Total external assets 729,032 506,223 1,319,642 148,668 2,703,565 Customer accounts 714,969 354,806 286,867 505 1,357,147 1 Net operating income before change in expected credit losses and other credit impairment charges, also referred to as revenue. 2 A change in reportable segments was made in 2Q20. Comparative data have been re-presented accordingly. Half-year to 31 Dec 2019 2 Net operating income/(expense) before change in expected credit losses and other credit impairment charges 1 12,492 7,379 7,113 (352 ) 26,632 – external 10,320 7,871 9,886 (1,445 ) 26,632 – inter-segment 2,172 (492 ) (2,773 ) 1,093 — of which: net interest income/(expense) 8,769 5,409 2,533 (1,495 ) 15,216 Change in expected credit losses and other credit impairment charges (829 ) (684 ) (61 ) 20 (1,554 ) Net operating income/(expense) 11,663 6,695 7,052 (332 ) 25,078 Total operating expenses (7,685 ) (3,498 ) (4,656 ) (609 ) (16,448 ) Operating profit/(loss) 3,978 3,197 2,396 (941 ) 8,630 Share of profit in associates and joint ventures 11 — — 1,019 1,030 Adjusted profit before tax 3,989 3,197 2,396 78 9,660 % % % % % Share of HSBC’s adjusted profit before tax 41.3 33.1 24.8 0.8 100.0 Adjusted cost efficiency ratio 61.5 47.4 65.5 (173.0 ) 61.8 Adjusted balance sheet data $m $m $m $m $m Loans and advances to customers (net) 428,834 336,345 240,411 1,071 1,006,661 Interests in associates and joint ventures 445 13 13 23,760 24,231 Total external assets 754,369 496,757 1,233,829 153,539 2,638,494 Customer accounts 735,301 377,691 285,954 710 1,399,656 1 Net operating income before change in expected credit losses and other credit impairment charges, also referred to as revenue. 2 A change in reportable segments was made in 2Q20. Comparative data have been presented accordingly. 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 2020 30 Jun 2019 31 Dec 2019 Footnotes $m $m $m Reported external net operating income by country/territory 1 26,745 29,372 26,726 – UK 4,166 4,577 4,434 – Hong Kong 8,703 9,461 8,988 – US 2,435 2,293 2,178 – France 697 979 963 – other countries 10,744 12,062 10,163 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 2020 30 Jun 2019 31 Dec 2019 Adjusted Significant items Reported Adjusted Currency translation Significant items Reported Adjusted Currency translation Significant items Reported Footnotes $m $m $m $m $m $m $m $m $m $m $m Revenue 1 26,477 268 26,745 27,815 681 876 29,372 26,632 281 (187 ) 26,726 ECL (6,858 ) — (6,858 ) (1,088 ) (52 ) — (1,140 ) (1,554 ) (62 ) — (1,616 ) Operating expenses (14,942 ) (1,585 ) (16,527 ) (15,739 ) (453 ) (957 ) (17,149 ) (16,448 ) (228 ) (8,524 ) (25,200 ) Share of profit in associates and joint ventures 958 — 958 1,285 39 — 1,324 1,030 — — 1,030 Profit before tax 5,635 (1,317 ) 4,318 12,273 215 (81 ) 12,407 9,660 (9 ) (8,711 ) 940 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 2020 31 Dec 2019 Reported and adjusted Adjusted Currency translation Reported $m $m $m $m Loans and advances to customers (net) 1,018,681 1,006,661 30,082 1,036,743 Interests in associates and joint ventures 24,800 24,231 243 24,474 Total external assets 2,922,798 2,638,494 76,658 2,715,152 Customer accounts 1,532,380 1,399,656 39,459 1,439,115 Adjusted profit reconciliation Half-year to 30 Jun 2020 30 Jun 2019 31 Dec 2019 Footnotes $m $m $m Adjusted profit before tax 5,635 12,273 9,660 Significant items (1,317 ) (81 ) (8,711 ) – customer redress programmes (revenue) 26 — (163 ) – disposals, acquisitions and investment in new businesses (revenue) (8 ) 827 (59 ) – fair value movements on financial instruments 1 299 50 34 – restructuring and other related costs (revenue) (49 ) — — – costs of structural reform 2 — (91 ) (67 ) – customer redress programmes (operating expenses) (50 ) (610 ) (671 ) – impairment of goodwill and other intangible assets (1,025 ) — (7,349 ) – restructuring and other related costs (operating expenses) 3 (505 ) (287 ) (540 ) – settlements and provisions in connection with legal and other regulatory matters (5 ) 2 59 – currency translation on significant items 28 45 Currency translation 215 (9 ) Reported profit before tax 4,318 12,407 940 1 Includes fair value movements on non-qualifying hedges and debt valuation adjustments on derivatives. 2 Comprises costs associated with preparations for the UK’s exit from the European Union. 3 Includes impairment of software intangible assets of $ 173 m. |
Fair values of financial instru
Fair values of financial instruments carried at fair value | 6 Months Ended |
Jun. 30, 2020 | |
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 2020 are consistent with those applied for the Annual Report and Accounts 2019 . Financial instruments carried at fair value and bases of valuation Valuation techniques Quoted market price Level 1 Using observable inputs Level 2 With significant unobservable inputs Level 3 Total $m $m $m $m Recurring fair value measurements At 30 Jun 2020 Assets Trading assets 141,930 63,169 3,865 208,964 Financial assets designated and otherwise mandatorily measured at fair value through profit or loss 16,054 15,327 10,404 41,785 Derivatives 2,126 307,800 3,855 313,781 Financial investments 311,685 89,304 3,339 404,328 Liabilities Trading liabilities 63,204 16,303 105 79,612 Financial liabilities designated at fair value 1,059 150,541 5,008 156,608 Derivatives 2,002 297,332 3,725 303,059 At 31 Dec 2019 Assets Trading assets 186,653 62,639 4,979 254,271 Financial assets designated and otherwise mandatorily measured at fair value through profit or loss 18,626 15,525 9,476 43,627 Derivatives 1,728 239,131 2,136 242,995 Financial investments 261,341 93,018 3,218 357,577 Liabilities Trading liabilities 66,925 16,192 53 83,170 Financial liabilities designated at fair value 9,549 149,901 5,016 164,466 Derivatives 1,331 235,864 2,302 239,497 Balances from 2019 have been re-presented to disclose a consistent application of the levelling methodology, primarily for private debt and equity and real estate investments during the period. This resulted in $15.1 bn and $2.9 bn moving into Levels 2 and 3, respectively, from Level 1. The change has impacted the disclosure for ‘Financial investments’ and ‘Financial assets designated and otherwise mandatorily measured at fair value’. 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 2020 Transfers from Level 1 to Level 2 1,342 2,132 217 — 98 7,414 — Transfers from Level 2 to Level 1 4,353 3,025 154 1 355 — — At 31 Dec 2019 Transfers from Level 1 to Level 2 7,965 3,304 — 24 278 — — Transfers from Level 2 to Level 1 4,184 2,726 673 111 220 — 117 Balances from 2019 have been re-presented to disclose a consistent application of the levelling methodology. Transfers between levels of the fair value hierarchy are deemed to occur at the end of each quarterly reporting period. Transfers into and out of levels of the fair value hierarchy are primarily attributable to observability of valuation inputs and price transparency. Fair value adjustments 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 2020 31 Dec 2019 GBM Corporate Centre GBM Corporate Centre Footnotes $m $m $m $m Type of adjustment Risk-related 1,230 149 1,040 125 – bid-offer 486 92 428 79 – uncertainty 101 1 115 1 – credit valuation adjustment 558 48 355 38 – debt valuation adjustment (184 ) — (126 ) — – funding fair value adjustment 239 8 241 7 – other 30 — 27 — Model-related 99 5 71 3 – model limitation 96 5 68 3 – other 3 — 3 — Inception profit (Day 1 P&L reserves) 1 89 — 72 — 1,418 154 1,183 128 1 See Note 8 on the interim condensed financial statements on page 112 . Fair value adjustment changes were driven mainly by an increase in credit valuation adjustment (‘CVA’) due to widening credit spreads and changes to derivative exposures caused by interest rates moves. For further details of our risk-related and model-related adjustments, see pages 267 and 268 of the Annual Report and Accounts 2019 . 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 689 3 9,756 — 10,448 3 — — 3 Asset-backed securities 1,095 674 98 — 1,867 — — — — Loans held for securitisation — 1 — — 1 — — — — Structured notes — 3 — — 3 36 5,003 — 5,039 Derivatives with monolines — — — 75 75 — — — — Other derivatives — — — 3,771 3,771 — — 3,717 3,717 Other portfolios 1,555 3,184 550 9 5,298 66 5 8 79 At 30 Jun 2020 3,339 3,865 10,404 3,855 21,463 105 5,008 3,725 8,838 Private equity including strategic investments 716 4 8,831 — 9,551 4 — — 4 Asset-backed securities 874 934 28 — 1,836 — — — — Loans held for securitisation — 1 39 — 40 — — — — Structured notes — 3 — — 3 47 5,016 — 5,063 Derivatives with monolines — — — 66 66 — — — — Other derivatives — — — 2,070 2,070 — — 2,302 2,302 Other portfolios 1,628 4,037 578 — 6,243 2 — — 2 At 31 Dec 2019 3,218 4,979 9,476 2,136 19,809 53 5,016 2,302 7,371 Balances from 2019 have been re-presented to disclose a consistent application of the levelling methodology. This resulted in an increase of $2.9 bn of assets in Level 3. ‘Other portfolios’ increased by $1.4 bn and ‘Private equity including strategic investments’ increased by $1.5 bn. The basis for determining the fair value of the financial instruments in the table above is explained on pages 268 and 269 of the Annual Report and Accounts 2019 . 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 Footnotes $m $m $m $m $m $m $m At 1 Jan 2020 3,218 4,979 9,476 2,136 53 5,016 2,302 Total gains/(losses) recognised in profit or loss (13 ) (541 ) (106 ) 2,237 — (117 ) 2,105 – net income from financial instruments held for trading or managed on a fair value basis — (541 ) — 2,237 — — 2,105 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — (106 ) — — (117 ) — – gains less losses from financial investments at fair value through other comprehensive income (13 ) — — — — — — Total gains/(losses) recognised in other comprehensive income 1 (29 ) (171 ) (4 ) (147 ) (2 ) (78 ) (162 ) – financial investments: fair value gains/(losses) (19 ) — — — — — — – exchange differences (10 ) (171 ) (4 ) (147 ) (2 ) (78 ) (162 ) Purchases 610 199 1,594 — 63 — — New issuances — — — — 2 1,091 — Sales (271 ) (577 ) (424 ) — (1 ) — — Settlements (401 ) (22 ) (170 ) (262 ) (12 ) (853 ) (307 ) Transfers out (22 ) (797 ) (63 ) (139 ) (5 ) (275 ) (270 ) Transfers in 247 795 101 30 7 224 57 At 30 Jun 2020 3,339 3,865 10,404 3,855 105 5,008 3,725 Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at — (7 ) (140 ) 529 (3 ) 100 1,104 – net income from financial instruments held for trading or managed on a fair value basis — (7 ) — 529 (3 ) — 1,104 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — (140 ) — — 100 — At 1 Jan 2019 2,796 6,759 7,080 2,423 58 5,328 1,756 Total gains/(losses) recognised in profit or loss — (2 ) 196 (9 ) (4 ) 246 591 – net income from financial instruments held for trading or managed on a fair value basis — (2 ) — (9 ) (4 ) — 591 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 196 — — 246 — Total gains/(losses) recognised in other comprehensive income (‘OCI’) 1 236 (18 ) 6 (6 ) (1 ) (6 ) (10 ) – financial investments: fair value gains/(losses) 238 — — — — — — – exchange differences (2 ) (18 ) 6 (6 ) (1 ) (6 ) (10 ) Purchases 336 1,145 1,214 — 5 118 — New issuances — 154 — — — 818 — Sales (7 ) (487 ) (87 ) — (9 ) (180 ) — Settlements (240 ) (1,691 ) (184 ) 94 — (396 ) (136 ) Transfers out (4 ) (409 ) (20 ) (622 ) (9 ) (550 ) (189 ) Transfers in 179 222 40 50 9 18 21 At 30 Jun 2019 3,296 5,673 8,245 1,930 49 5,396 2,033 Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at — 2 67 257 (23 ) (7 ) (320 ) – net income from financial instruments held for trading or managed on a fair value basis — 2 — 257 (23 ) — (320 ) – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 67 — — (7 ) — Movement in Level 3 financial instruments (continued) Assets Liabilities Financial investments Trading assets Designated at fair value through profit or loss Derivatives Trading liabilities Designated at fair value Derivatives Footnotes $m $m $m $m $m $m $m At 1 Jul 2019 3,296 5,673 8,245 1,930 49 5,396 2,033 Total gains/(losses) recognised in profit or loss 6 (110 ) 391 287 — (51 ) 339 – net income from financial instruments held for trading or managed on a fair value basis — (110 ) — 287 — — 339 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 391 — — (51 ) — – gains less losses from financial investments at fair value through other comprehensive income 10 — — — — — — – expected credit loss charges and other credit risk charges (4 ) — — — — — — Total gains/(losses) recognised in other comprehensive income (‘OCI’) 1 73 94 (10 ) 55 2 24 62 – financial investments: fair value gains/(losses) 63 — — — — — — – exchange differences 10 94 (10 ) 55 2 24 62 Purchases 357 1,061 1,292 — 3 39 — New issuances — — — — 6 783 — Sales (49 ) (408 ) (189 ) — — (13 ) — Settlements (89 ) (416 ) (250 ) (194 ) (7 ) (652 ) (26 ) Transfers out (484 ) (1,149 ) (3 ) (88 ) — (529 ) (284 ) Transfers in 108 234 — 146 — 19 178 At 31 Dec 2019 3,218 4,979 9,476 2,136 53 5,016 2,302 Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at 31 Dec 2019 (4 ) (22 ) 465 279 — 57 (407 ) – net income from financial instruments held for trading or managed on a fair value basis — (22 ) — 279 — — (407 ) – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 465 — — 57 — – loan impairment recoveries and other credit risk provisions (4 ) — — — — — — 1 Included in ‘Financial investments: fair value gains/(losses)’ in the current year and ‘Exchange differences’ in the consolidated statement of comprehensive income. Balances from 2019 have been re-presented to disclose a consistent application of the levelling methodology. The result of this is an increase of $2.9 bn of assets in Level 3. ‘Financial investments’ increased by $1.2 bn and ‘Private equity including strategic investments financial assets designated and otherwise mandatorily measured at fair value’ increased by $ 1.7 bn. 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 other comprehensive income Favourable changes Unfavourable changes Favourable changes Unfavourable changes Footnotes $m $m $m $m Derivatives, trading assets and trading liabilities 1 271 (268 ) — — Financial assets and liabilities designated and otherwise mandatorily measured at fair value 625 (625 ) — — Financial investments 28 (28 ) 101 (104 ) At 30 Jun 2020 924 (921 ) 101 (104 ) Derivatives, trading assets and trading liabilities 1 298 (303 ) — — Financial assets and liabilities designated and otherwise mandatorily measured at fair value 545 (439 ) — — Financial investments 43 (46 ) 74 (74 ) At 30 Jun 2019 886 (788 ) 74 (74 ) Derivatives, trading assets and trading liabilities 1 255 (230 ) — — Financial assets and liabilities designated and otherwise mandatorily measured at fair value through profit or loss 618 (503 ) — — Financial investments 48 (53 ) 81 (81 ) At 31 Dec 2019 921 (786 ) 81 (81 ) 1 ‘Derivatives, trading assets and trading liabilities’ is presented as one category to reflect the manner in which these financial instruments are risk-managed. Balances from 2019 have been re-presented to disclose a consistent application of the levelling methodology. The result of this is an increase in ‘Financial investments reflected through OCI’ and ‘Financial asset designated and mandatorily measured at fair value reflected in profit or loss’ of $59 m and $86 m respectively. 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 2020 . There has been no change to the key unobservable inputs to Level 3 financial instruments and inter-relationships therein, which are detailed on pages 271 and 272 of the Annual Report and Accounts 2019 . Quantitative information about significant unobservable inputs in Level 3 valuations Fair value Valuation technique Key unobservable inputs Assets Liabilities Full range of inputs Footnotes $m $m Lower Higher Private equity including strategic investments 10,448 3 See footnote 1 See footnote 1 Asset-backed securities 1,867 — – CLO/CDO 2 113 — Market proxy Prepayment rate 0% 9% — Market proxy Bid quotes 0 99 – other ABSs 1,754 — Market proxy Bid quotes 0 100 Loans held for securitisation 1 — Structured notes 3 5,039 – equity-linked notes — 3,988 Model – option model Equity volatility 6% 161% Model – option model Equity correlation 22% 92% – FX-linked notes — 579 Model – option model FX volatility 1% 34% – other 3 472 Derivatives with monolines 75 — Model – discounted cash flow Credit spread 1.6% 2.1% Other derivatives 3,771 3,717 – interest rate derivatives securitisation swaps 283 869 Model – discounted cash flow Prepayment rate 6% 7% long-dated swaptions 1,778 735 Model – option model IR volatility 7% 33% other 412 335 – FX derivatives FX options 109 191 Model – option model FX volatility 1% 49% other 142 139 – equity derivatives long-dated single stock options 750 821 Model – option model Equity volatility 0% 131% other 192 551 – credit derivatives other 105 76 Other portfolios 5,298 79 – structured certificates 1,488 — Model – discounted cash flow Credit volatility 11% 11% – repurchase agreements 778 63 – other 3 3,032 16 At 30 Jun 2020 21,463 8,838 Quantitative information about significant unobservable inputs in Level 3 valuations (continued) Fair value Valuation technique Assets Liabilities Key unobservable inputs Full range of inputs Footnotes $m $m Lower Higher Private equity including strategic investments 9,551 4 See footnote 1 See footnote 1 n/a n/a Asset-backed securities 1,836 — – CLO/CDO 2 373 — Market proxy Prepayment rate 0% 9% Market proxy Bid quotes 0 100 – other ABSs 1,463 — Market proxy Bid quotes 0 101 Loans held for securitisation 40 — Structured notes 3 5,063 – equity-linked notes — 3,768 Model – option model Equity volatility 5% 90% Model – option model Equity correlation 9% 93% – FX-linked notes — 1,046 Model – option model FX volatility 1% 23% – other 3 249 Derivatives with monolines 66 — Model – discounted cash flow Credit spread 0.4% 2% Other derivatives 2,070 2,302 – interest rate derivatives securitisation swaps 314 640 Model – discounted cash flow Prepayment rate 6% 7% long-dated swaptions 838 51 Model – option model IR volatility 8% 22% other 255 155 – FX derivatives FX options 93 218 Model – option model FX volatility 1% 25% other 119 104 – equity derivatives long-dated single stock options 230 293 Model – option model Equity volatility 0% 89% other 78 712 – Credit derivatives Other 143 129 Other portfolios 6,243 2 – structured certificates 1,515 — Model – discounted cash flow Credit volatility 4% 4% – repurchase agreements 1,604 — – other 3 3,124 2 At 31 Dec 2019 19,809 7,371 1 See notes on page 271 of the Annual Report and Accounts 2019 . 2 Collateralised loan obligation/collateralised debt obligation. 3 ’Other’ includes a range of smaller asset holdings. Balances from 2019 have been re-presented to disclose a consistent application of the levelling methodology. The result of this is an increase of $2.9 bn of assets in Level 3. ‘Other portfolios’ increased by $1.4 bn and ‘Private equity including strategic investments’ increased by $1.5 bn. 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 273 and 274 of the Annual Report and Accounts 2019 . Fair values of financial instruments not carried at fair value on the balance sheet At 30 Jun 2020 At 31 Dec 2019 Carrying Fair Carrying amount Fair value $m $m $m $m Assets Loans and advances to banks 77,015 77,122 69,203 69,247 Loans and advances to customers 1,018,681 1,018,036 1,036,743 1,037,543 Reverse repurchase agreements – non-trading 226,345 226,402 240,862 240,906 Financial investments – at amortised cost 89,781 96,434 85,735 89,061 Liabilities Deposits by banks 82,715 82,718 59,022 58,951 Customer accounts 1,532,380 1,533,284 1,439,115 1,439,512 Repurchase agreements – non-trading 112,799 112,803 140,344 140,344 Debt securities in issue 110,114 110,474 104,555 104,936 Subordinated liabilities 23,621 26,599 24,600 29,246 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, 2020 | |
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 2020 are consistent with those applied for the Annual Report and Accounts 2019 . Financial instruments carried at fair value and bases of valuation Valuation techniques Quoted market price Level 1 Using observable inputs Level 2 With significant unobservable inputs Level 3 Total $m $m $m $m Recurring fair value measurements At 30 Jun 2020 Assets Trading assets 141,930 63,169 3,865 208,964 Financial assets designated and otherwise mandatorily measured at fair value through profit or loss 16,054 15,327 10,404 41,785 Derivatives 2,126 307,800 3,855 313,781 Financial investments 311,685 89,304 3,339 404,328 Liabilities Trading liabilities 63,204 16,303 105 79,612 Financial liabilities designated at fair value 1,059 150,541 5,008 156,608 Derivatives 2,002 297,332 3,725 303,059 At 31 Dec 2019 Assets Trading assets 186,653 62,639 4,979 254,271 Financial assets designated and otherwise mandatorily measured at fair value through profit or loss 18,626 15,525 9,476 43,627 Derivatives 1,728 239,131 2,136 242,995 Financial investments 261,341 93,018 3,218 357,577 Liabilities Trading liabilities 66,925 16,192 53 83,170 Financial liabilities designated at fair value 9,549 149,901 5,016 164,466 Derivatives 1,331 235,864 2,302 239,497 Balances from 2019 have been re-presented to disclose a consistent application of the levelling methodology, primarily for private debt and equity and real estate investments during the period. This resulted in $15.1 bn and $2.9 bn moving into Levels 2 and 3, respectively, from Level 1. The change has impacted the disclosure for ‘Financial investments’ and ‘Financial assets designated and otherwise mandatorily measured at fair value’. 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 2020 Transfers from Level 1 to Level 2 1,342 2,132 217 — 98 7,414 — Transfers from Level 2 to Level 1 4,353 3,025 154 1 355 — — At 31 Dec 2019 Transfers from Level 1 to Level 2 7,965 3,304 — 24 278 — — Transfers from Level 2 to Level 1 4,184 2,726 673 111 220 — 117 Balances from 2019 have been re-presented to disclose a consistent application of the levelling methodology. Transfers between levels of the fair value hierarchy are deemed to occur at the end of each quarterly reporting period. Transfers into and out of levels of the fair value hierarchy are primarily attributable to observability of valuation inputs and price transparency. Fair value adjustments 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 2020 31 Dec 2019 GBM Corporate Centre GBM Corporate Centre Footnotes $m $m $m $m Type of adjustment Risk-related 1,230 149 1,040 125 – bid-offer 486 92 428 79 – uncertainty 101 1 115 1 – credit valuation adjustment 558 48 355 38 – debt valuation adjustment (184 ) — (126 ) — – funding fair value adjustment 239 8 241 7 – other 30 — 27 — Model-related 99 5 71 3 – model limitation 96 5 68 3 – other 3 — 3 — Inception profit (Day 1 P&L reserves) 1 89 — 72 — 1,418 154 1,183 128 1 See Note 8 on the interim condensed financial statements on page 112 . Fair value adjustment changes were driven mainly by an increase in credit valuation adjustment (‘CVA’) due to widening credit spreads and changes to derivative exposures caused by interest rates moves. For further details of our risk-related and model-related adjustments, see pages 267 and 268 of the Annual Report and Accounts 2019 . 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 689 3 9,756 — 10,448 3 — — 3 Asset-backed securities 1,095 674 98 — 1,867 — — — — Loans held for securitisation — 1 — — 1 — — — — Structured notes — 3 — — 3 36 5,003 — 5,039 Derivatives with monolines — — — 75 75 — — — — Other derivatives — — — 3,771 3,771 — — 3,717 3,717 Other portfolios 1,555 3,184 550 9 5,298 66 5 8 79 At 30 Jun 2020 3,339 3,865 10,404 3,855 21,463 105 5,008 3,725 8,838 Private equity including strategic investments 716 4 8,831 — 9,551 4 — — 4 Asset-backed securities 874 934 28 — 1,836 — — — — Loans held for securitisation — 1 39 — 40 — — — — Structured notes — 3 — — 3 47 5,016 — 5,063 Derivatives with monolines — — — 66 66 — — — — Other derivatives — — — 2,070 2,070 — — 2,302 2,302 Other portfolios 1,628 4,037 578 — 6,243 2 — — 2 At 31 Dec 2019 3,218 4,979 9,476 2,136 19,809 53 5,016 2,302 7,371 Balances from 2019 have been re-presented to disclose a consistent application of the levelling methodology. This resulted in an increase of $2.9 bn of assets in Level 3. ‘Other portfolios’ increased by $1.4 bn and ‘Private equity including strategic investments’ increased by $1.5 bn. The basis for determining the fair value of the financial instruments in the table above is explained on pages 268 and 269 of the Annual Report and Accounts 2019 . 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 Footnotes $m $m $m $m $m $m $m At 1 Jan 2020 3,218 4,979 9,476 2,136 53 5,016 2,302 Total gains/(losses) recognised in profit or loss (13 ) (541 ) (106 ) 2,237 — (117 ) 2,105 – net income from financial instruments held for trading or managed on a fair value basis — (541 ) — 2,237 — — 2,105 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — (106 ) — — (117 ) — – gains less losses from financial investments at fair value through other comprehensive income (13 ) — — — — — — Total gains/(losses) recognised in other comprehensive income 1 (29 ) (171 ) (4 ) (147 ) (2 ) (78 ) (162 ) – financial investments: fair value gains/(losses) (19 ) — — — — — — – exchange differences (10 ) (171 ) (4 ) (147 ) (2 ) (78 ) (162 ) Purchases 610 199 1,594 — 63 — — New issuances — — — — 2 1,091 — Sales (271 ) (577 ) (424 ) — (1 ) — — Settlements (401 ) (22 ) (170 ) (262 ) (12 ) (853 ) (307 ) Transfers out (22 ) (797 ) (63 ) (139 ) (5 ) (275 ) (270 ) Transfers in 247 795 101 30 7 224 57 At 30 Jun 2020 3,339 3,865 10,404 3,855 105 5,008 3,725 Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at — (7 ) (140 ) 529 (3 ) 100 1,104 – net income from financial instruments held for trading or managed on a fair value basis — (7 ) — 529 (3 ) — 1,104 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — (140 ) — — 100 — At 1 Jan 2019 2,796 6,759 7,080 2,423 58 5,328 1,756 Total gains/(losses) recognised in profit or loss — (2 ) 196 (9 ) (4 ) 246 591 – net income from financial instruments held for trading or managed on a fair value basis — (2 ) — (9 ) (4 ) — 591 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 196 — — 246 — Total gains/(losses) recognised in other comprehensive income (‘OCI’) 1 236 (18 ) 6 (6 ) (1 ) (6 ) (10 ) – financial investments: fair value gains/(losses) 238 — — — — — — – exchange differences (2 ) (18 ) 6 (6 ) (1 ) (6 ) (10 ) Purchases 336 1,145 1,214 — 5 118 — New issuances — 154 — — — 818 — Sales (7 ) (487 ) (87 ) — (9 ) (180 ) — Settlements (240 ) (1,691 ) (184 ) 94 — (396 ) (136 ) Transfers out (4 ) (409 ) (20 ) (622 ) (9 ) (550 ) (189 ) Transfers in 179 222 40 50 9 18 21 At 30 Jun 2019 3,296 5,673 8,245 1,930 49 5,396 2,033 Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at — 2 67 257 (23 ) (7 ) (320 ) – net income from financial instruments held for trading or managed on a fair value basis — 2 — 257 (23 ) — (320 ) – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 67 — — (7 ) — Movement in Level 3 financial instruments (continued) Assets Liabilities Financial investments Trading assets Designated at fair value through profit or loss Derivatives Trading liabilities Designated at fair value Derivatives Footnotes $m $m $m $m $m $m $m At 1 Jul 2019 3,296 5,673 8,245 1,930 49 5,396 2,033 Total gains/(losses) recognised in profit or loss 6 (110 ) 391 287 — (51 ) 339 – net income from financial instruments held for trading or managed on a fair value basis — (110 ) — 287 — — 339 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 391 — — (51 ) — – gains less losses from financial investments at fair value through other comprehensive income 10 — — — — — — – expected credit loss charges and other credit risk charges (4 ) — — — — — — Total gains/(losses) recognised in other comprehensive income (‘OCI’) 1 73 94 (10 ) 55 2 24 62 – financial investments: fair value gains/(losses) 63 — — — — — — – exchange differences 10 94 (10 ) 55 2 24 62 Purchases 357 1,061 1,292 — 3 39 — New issuances — — — — 6 783 — Sales (49 ) (408 ) (189 ) — — (13 ) — Settlements (89 ) (416 ) (250 ) (194 ) (7 ) (652 ) (26 ) Transfers out (484 ) (1,149 ) (3 ) (88 ) — (529 ) (284 ) Transfers in 108 234 — 146 — 19 178 At 31 Dec 2019 3,218 4,979 9,476 2,136 53 5,016 2,302 Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at 31 Dec 2019 (4 ) (22 ) 465 279 — 57 (407 ) – net income from financial instruments held for trading or managed on a fair value basis — (22 ) — 279 — — (407 ) – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 465 — — 57 — – loan impairment recoveries and other credit risk provisions (4 ) — — — — — — 1 Included in ‘Financial investments: fair value gains/(losses)’ in the current year and ‘Exchange differences’ in the consolidated statement of comprehensive income. Balances from 2019 have been re-presented to disclose a consistent application of the levelling methodology. The result of this is an increase of $2.9 bn of assets in Level 3. ‘Financial investments’ increased by $1.2 bn and ‘Private equity including strategic investments financial assets designated and otherwise mandatorily measured at fair value’ increased by $ 1.7 bn. 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 other comprehensive income Favourable changes Unfavourable changes Favourable changes Unfavourable changes Footnotes $m $m $m $m Derivatives, trading assets and trading liabilities 1 271 (268 ) — — Financial assets and liabilities designated and otherwise mandatorily measured at fair value 625 (625 ) — — Financial investments 28 (28 ) 101 (104 ) At 30 Jun 2020 924 (921 ) 101 (104 ) Derivatives, trading assets and trading liabilities 1 298 (303 ) — — Financial assets and liabilities designated and otherwise mandatorily measured at fair value 545 (439 ) — — Financial investments 43 (46 ) 74 (74 ) At 30 Jun 2019 886 (788 ) 74 (74 ) Derivatives, trading assets and trading liabilities 1 255 (230 ) — — Financial assets and liabilities designated and otherwise mandatorily measured at fair value through profit or loss 618 (503 ) — — Financial investments 48 (53 ) 81 (81 ) At 31 Dec 2019 921 (786 ) 81 (81 ) 1 ‘Derivatives, trading assets and trading liabilities’ is presented as one category to reflect the manner in which these financial instruments are risk-managed. Balances from 2019 have been re-presented to disclose a consistent application of the levelling methodology. The result of this is an increase in ‘Financial investments reflected through OCI’ and ‘Financial asset designated and mandatorily measured at fair value reflected in profit or loss’ of $59 m and $86 m respectively. 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 2020 . There has been no change to the key unobservable inputs to Level 3 financial instruments and inter-relationships therein, which are detailed on pages 271 and 272 of the Annual Report and Accounts 2019 . Quantitative information about significant unobservable inputs in Level 3 valuations Fair value Valuation technique Key unobservable inputs Assets Liabilities Full range of inputs Footnotes $m $m Lower Higher Private equity including strategic investments 10,448 3 See footnote 1 See footnote 1 Asset-backed securities 1,867 — – CLO/CDO 2 113 — Market proxy Prepayment rate 0% 9% — Market proxy Bid quotes 0 99 – other ABSs 1,754 — Market proxy Bid quotes 0 100 Loans held for securitisation 1 — Structured notes 3 5,039 – equity-linked notes — 3,988 Model – option model Equity volatility 6% 161% Model – option model Equity correlation 22% 92% – FX-linked notes — 579 Model – option model FX volatility 1% 34% – other 3 472 Derivatives with monolines 75 — Model – discounted cash flow Credit spread 1.6% 2.1% Other derivatives 3,771 3,717 – interest rate derivatives securitisation swaps 283 869 Model – discounted cash flow Prepayment rate 6% 7% long-dated swaptions 1,778 735 Model – option model IR volatility 7% 33% other 412 335 – FX derivatives FX options 109 191 Model – option model FX volatility 1% 49% other 142 139 – equity derivatives long-dated single stock options 750 821 Model – option model Equity volatility 0% 131% other 192 551 – credit derivatives other 105 76 Other portfolios 5,298 79 – structured certificates 1,488 — Model – discounted cash flow Credit volatility 11% 11% – repurchase agreements 778 63 – other 3 3,032 16 At 30 Jun 2020 21,463 8,838 Quantitative information about significant unobservable inputs in Level 3 valuations (continued) Fair value Valuation technique Assets Liabilities Key unobservable inputs Full range of inputs Footnotes $m $m Lower Higher Private equity including strategic investments 9,551 4 See footnote 1 See footnote 1 n/a n/a Asset-backed securities 1,836 — – CLO/CDO 2 373 — Market proxy Prepayment rate 0% 9% Market proxy Bid quotes 0 100 – other ABSs 1,463 — Market proxy Bid quotes 0 101 Loans held for securitisation 40 — Structured notes 3 5,063 – equity-linked notes — 3,768 Model – option model Equity volatility 5% 90% Model – option model Equity correlation 9% 93% – FX-linked notes — 1,046 Model – option model FX volatility 1% 23% – other 3 249 Derivatives with monolines 66 — Model – discounted cash flow Credit spread 0.4% 2% Other derivatives 2,070 2,302 – interest rate derivatives securitisation swaps 314 640 Model – discounted cash flow Prepayment rate 6% 7% long-dated swaptions 838 51 Model – option model IR volatility 8% 22% other 255 155 – FX derivatives FX options 93 218 Model – option model FX volatility 1% 25% other 119 104 – equity derivatives long-dated single stock options 230 293 Model – option model Equity volatility 0% 89% other 78 712 – Credit derivatives Other 143 129 Other portfolios 6,243 2 – structured certificates 1,515 — Model – discounted cash flow Credit volatility 4% 4% – repurchase agreements 1,604 — – other 3 3,124 2 At 31 Dec 2019 19,809 7,371 1 See notes on page 271 of the Annual Report and Accounts 2019 . 2 Collateralised loan obligation/collateralised debt obligation. 3 ’Other’ includes a range of smaller asset holdings. Balances from 2019 have been re-presented to disclose a consistent application of the levelling methodology. The result of this is an increase of $2.9 bn of assets in Level 3. ‘Other portfolios’ increased by $1.4 bn and ‘Private equity including strategic investments’ increased by $1.5 bn. 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 273 and 274 of the Annual Report and Accounts 2019 . Fair values of financial instruments not carried at fair value on the balance sheet At 30 Jun 2020 At 31 Dec 2019 Carrying Fair Carrying amount Fair value $m $m $m $m Assets Loans and advances to banks 77,015 77,122 69,203 69,247 Loans and advances to customers 1,018,681 1,018,036 1,036,743 1,037,543 Reverse repurchase agreements – non-trading 226,345 226,402 240,862 240,906 Financial investments – at amortised cost 89,781 96,434 85,735 89,061 Liabilities Deposits by banks 82,715 82,718 59,022 58,951 Customer accounts 1,532,380 1,533,284 1,439,115 1,439,512 Repurchase agreements – non-trading 112,799 112,803 140,344 140,344 Debt securities in issue 110,114 110,474 104,555 104,936 Subordinated liabilities 23,621 26,599 24,600 29,246 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, 2020 | |
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 7,383,599 36,888 83,704 366 84,070 84,600 729 85,329 Interest rate 17,590,866 165,107 291,177 2,522 293,699 274,938 3,550 278,488 Equities 648,250 — 10,697 — 10,697 11,836 — 11,836 Credit 329,551 — 3,661 — 3,661 5,000 — 5,000 Commodity and other 134,410 — 2,764 — 2,764 3,516 — 3,516 Gross total fair values 26,086,676 201,995 392,003 2,888 394,891 379,890 4,279 384,169 Offset (81,110 ) (81,110 ) At 30 Jun 2020 26,086,676 201,995 392,003 2,888 313,781 379,890 4,279 303,059 Foreign exchange 8,207,629 31,899 84,083 455 84,538 84,498 740 85,238 Interest rate 17,895,349 177,006 183,668 1,208 184,876 175,095 2,031 177,126 Equities 1,077,347 — 9,053 — 9,053 11,237 — 11,237 Credit 345,644 — 4,744 — 4,744 5,597 — 5,597 Commodity and other 93,245 — 1,523 — 1,523 2,038 — 2,038 Gross total fair values 27,619,214 208,905 283,071 1,663 284,734 278,465 2,771 281,236 Offset (41,739 ) (41,739 ) At 31 Dec 2019 27,619,214 208,905 283,071 1,663 242,995 278,465 2,771 239,497 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 1H20 , 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 2020 2019 2019 Footnotes $m $m $m Unamortised balance at beginning of period 73 86 99 Deferral on new transactions 106 90 55 Recognised in the income statement during the period (87 ) (78 ) (76 ) – amortisation (51 ) (36 ) (44 ) – subsequent to unobservable inputs becoming observable (1 ) (6 ) 3 – maturity, termination or offsetting derivative (35 ) (36 ) (35 ) Exchange differences (3 ) — 1 Other — 1 (6 ) Unamortised balance at end of period 1 89 99 73 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 2020 At 31 Dec 2019 Cash flow hedges Fair value hedges Cash flow hedges Fair value hedges $m $m $m $m Foreign exchange 26,374 14 21,385 14 Interest rate 39,590 125,517 54,253 122,753 Total 65,964 125,531 75,638 122,767 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 2020 , the notional contract values of outstanding financial instruments designated as hedges of net investments in foreign operations were $ 10,500 m (31 December 2019: $10,500m ). |
Financial investments
Financial investments | 6 Months Ended |
Jun. 30, 2020 | |
Financial Instruments [Abstract] | |
Financial investments | 9 Financial investments Carrying amounts of financial investments 30 Jun 31 Dec 2020 2019 Footnotes $m $m Financial investments measured at fair value through other comprehensive income 404,328 357,577 – treasury and other eligible bills 130,389 95,043 – debt securities 271,859 260,536 – equity securities 1,997 1,913 – other instruments 1 83 85 Debt instruments measured at amortised cost 89,781 85,735 – treasury and other eligible bills 12,192 10,476 – debt securities 77,589 75,259 At the end of the period 494,109 443,312 1 ‘Other instruments’ are comprised of loans and advances. |
Interests in associates and joi
Interests in associates and joint ventures | 6 Months Ended |
Jun. 30, 2020 | |
Interests In Other Entities [Abstract] | |
Interests in associates and joint ventures | 10 Interests in associates and joint ventures At 30 June 2020 , the carrying amount of HSBC’s interests in associates and joint ventures was $24,800m (31 December 2019 : $24,474m ). Principal associates of HSBC At 30 Jun 2020 31 Dec 2019 Carrying amount Fair value 1 Carrying amount Fair value 1 $m $m $m $m Bank of Communications Co., Limited 19,630 8,718 18,982 10,054 The Saudi British Bank 4,139 3,644 4,370 5,550 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 via 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 2020 , the fair value of the Group’s investment in BoCom had been below the carrying amount for approximately eight years. As a result, the Group performed an impairment test on the carrying amount, which confirmed that there was no impairment at 30 June 2020 as the recoverable amount, as determined by a value-in-use (‘VIU’) calculation, was higher than the carrying value. At 30 Jun 2020 31 Dec 2019 VIU Carrying value Fair value VIU Carrying value Fair value $bn $bn $bn $bn $bn $bn BoCom 20.5 19.6 8.7 21.5 19.0 10.1 The decrease in VIU for the first half of 2020 was principally driven by BoCom's actual performance, which was lower than earlier forecasts due to the impact of the Covid-19 outbreak and the disruption to global economic activity, and downward revisions to management's best estimates of BoCom's future earnings. 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 the period-end. The factors that could result in a change in the VIU and an impairment include a short-term underperformance by BoCom, a change in regulatory capital requirements, or an increase in uncertainty regarding the future performance of BoCom resulting in a downgrade of the future asset growth or profitability. An increase in the discount rate as a result of an increase in the risk premium or risk-free rates could also result in a reduction of VIU and an impairment. At the point where the carrying value exceeds the VIU, impairment would be recognised. If the Group did not have significant influence in BoCom, the investment would be carried at fair value rather than the current carrying value. Basis of recoverable amount The impairment test was performed by comparing the recoverable amount of BoCom, determined by a VIU calculation, with its carrying amount. The VIU calculation uses discounted cash flow projections based on management’s best estimates of future earnings available to ordinary shareholders prepared in accordance with IAS 36. Significant management judgement is required in arriving at the best estimate. There are two main components to the VIU calculation. The first component is management’s best estimate of BoCom’s earnings, which is based on explicit forecasts over the short to medium term. This results in forecast earnings growth that is lower than recent historical actual growth and also reflects the uncertainty arising from the current economic outlook. Earnings beyond the short to medium term are then extrapolated in perpetuity using a long-term growth rate to derive a terminal value, which comprises the majority of the VIU. The second component is the capital maintenance charge (‘CMC’), which is management’s forecast of the earnings that need to be withheld in order for BoCom to meet regulatory capital requirements over the forecast period (i.e. CMC is deducted when arriving at management’s estimate of future earnings available to ordinary shareholders). The principal inputs to the CMC calculation include estimates of asset growth, the ratio of risk-weighted assets to total assets and the expected minimum regulatory capital requirements. An increase in the CMC as a result of a change to these principal inputs would reduce VIU. Additionally, management considers other factors (including qualitative factors) to ensure that the inputs to the VIU calculation remain appropriate. Key assumptions in value-in-use calculation We used a number of assumptions in our VIU calculation, in accordance with the requirements of IAS 36: • Long-term profit growth rate: 3% (31 December 2019 : 3% ) for periods after 2023, which does not exceed forecast GDP growth in mainland China and is consistent with forecasts by external analysts. • Long-term asset growth rate: 3% (31 December 2019 : 3% ) for periods after 2023, which is the rate that assets are expected to grow to achieve long-term profit growth of 3% . • Discount rate: 11.24% (31 December 2019 : 11.24% ), which is based on a capital asset pricing model (‘CAPM’) calculation for BoCom, using market data. Management also compares the rate derived from the CAPM with discount rates from external sources. The discount rate used is within the range of 10.3% to 15.0% (31 December 2019 : 10.0% to 15.0% ) indicated by external sources. • Expected credit losses as a percentage of customer advances: ranges from 0.95% to 1.10% (31 December 2019 : 0.95% ) in the short to medium term, reflecting increases due to the Covid-19 outbreak and BoCom's actual results. For periods after 2023, the ratio is 0.76% (31 December 2019 : 0.76% ), which is slightly higher than the historical average. • Risk-weighted assets as a percentage of total assets: ranges from 61% to 62% (31 December 2019 : 61% ) in the short to medium term, reflecting increases that may arise from higher expected credit losses as a percentage of customer advances. For periods after 2023, the ratio is 61% (31 December 2019: 61% ). These rates are similar to BoCom’s actual results in recent years and forecasts disclosed by external analysts. • Operating income: ranges from 1.3% to 6.2% (31 December 2019: 4.9% to 9.4% ) in the short to medium term, and are lower than BoCom’s actual results in recent years and the forecasts disclosed by external analysts, reflecting pressures from the Covid-19 outbreak and industry developments in mainland China. • Cost-income ratio: ranges from 36.2% to 36.6% (31 December 2019 : 37.1% to 38.8% ) in the short to medium term. These rates are similar to BoCom's actual results and slightly higher than the forecasts disclosed by external analysts. • Effective tax rate: ranges from 11.0% to 17.9% (31 December 2019 : 12.0% to 17.0% ) in the short to medium term, reflecting BoCom's actual results and an expected increase towards the long-term assumption. For periods after 2023, the rate is 22.5% (31 December 2019 : 22.5% ), which is slightly higher than the historical average. • Capital requirements: Capital adequacy ratio: 11.5% (31 December 2019 : 11.5% ) and tier 1 capital adequacy ratio: 9.5% (31 December 2019 : 9.5% ), based on the minimum regulatory requirements. The following table shows the change to each key assumption in the VIU calculation that on its own would reduce the headroom to nil: Key assumption Changes to key assumption to reduce headroom to nil • Long-term profit growth rate Decrease by 36 basis points • Long-term asset growth rate Increase by 32 basis points • Discount rate Increase by 41 basis points • Expected credit losses as a percentage of customer advances Increase by 6 basis points • Risk-weighted assets as a percentage of total assets Increase by 234 basis points • Operating income Decrease by 62 basis points • Cost-income ratio Increase by 139 basis points • Long-term effective tax rate Increase by 320 basis points • Capital requirements – capital adequacy ratio Increase by 44 basis points • Capital requirements – tier 1 capital adequacy ratio Increase by 137 basis points The following table further illustrates the impact on VIU of reasonably possible changes to key assumptions. This reflects the sensitivity of the VIU to each key assumption on its own and it is possible that more than one favourable and/or unfavourable change may occur at the same time. The selected rates of reasonably possible changes to key assumptions are largely based on external analysts’ forecasts, which can change period to period. Sensitivity of VIU to reasonably possible changes in key assumptions Favourable change Unfavourable change Increase VIU Decrease VIU bps $bn $bn bps $bn $bn At 30 Jun 2020 Long-term profit growth rate — — 20.5 (50 ) (1.2 ) 19.3 Long-term asset growth rate (50 ) 1.3 21.8 — — 20.5 Discount rate (24 ) 0.6 21.1 86 (1.8 ) 18.7 Expected credit losses as a percentage of customer advances 2020 to 2023: 93 0.5 21.0 2020 to 2023: 108 (2.2 ) 18.3 Risk-weighted assets as a percentage of total assets (190 ) 0.5 21.0 93 (0.5 ) 20.0 Operating income 64 1.0 21.5 (69 ) (0.9 ) 19.6 Cost-income ratio (205 ) 1.5 22.0 179 (1.3 ) 19.2 Long-term effective tax rate (433 ) 1.2 21.7 250 (0.7 ) 19.8 Capital requirements – capital adequacy ratio — — 20.5 266 (6.0 ) 14.5 Capital requirements – tier 1 capital adequacy ratio — — 20.5 289 (4.5 ) 16.0 At 31 Dec 2019 Long-term profit growth rate — — 21.5 (50 ) (1.3 ) 20.2 Long-term asset growth rate (50 ) 1.4 22.9 — — 21.5 Discount rate (54 ) 1.4 22.9 56 (1.2 ) 20.3 Expected credit losses as a percentage of customer advances 2019 to 2023: 90 1.0 22.5 2019 to 2023: 108 (1.2 ) 20.3 Risk-weighted assets as a percentage of total assets (96 ) 0.4 21.9 12 — 21.5 Operating income 14 0.3 21.8 (102 ) (1.8 ) 19.7 Cost-income ratio (175 ) 1.0 22.5 95 (1.2 ) 20.3 Long-term effective tax rate (352 ) 1.0 22.5 250 (0.7 ) 20.8 Capital requirements – capital adequacy ratio — — 21.5 337 (8.2 ) 13.3 Capital requirements – tier 1 capital adequacy ratio — — 21.5 322 (6.0 ) 15.5 Considering the interrelationship of the changes set out in the table above, management estimates that the reasonably possible range of VIU is $ 17.3 bn to $ 21.9 bn (31 December 2019: $ 18.5 bn to $ 22.8 bn). The range is based on the favourable/unfavourable change in the earnings in the short to medium term and long-term expected credit losses as a percentage of customer advances, as set out in the table above. All other long-term assumptions, the discount rate and the basis of the CMC have been kept unchanged when determining the reasonably possible range of the VIU. The Saudi British Bank The Group’s investment in The Saudi British Bank (‘SABB’) is classified as an associate. In June 2019, the merger between SABB and Alawwal bank (‘Alawwal’) became effective, which reduced HSBC’s 40% interest in SABB to 29.2% . HSBC remained the largest shareholder in SABB. 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 SABB’s share price has declined during the period due to oil price volatility and global economic uncertainty arising from the Covid-19 outbreak. At 30 June 2020 , the fair value of the Group’s investment in SABB ( $3.6 bn) was below the carrying amount ( $4.1 bn). As a result, the Group performed an impairment test on the carrying amount, which confirmed no impairment. However, the recoverable amount as determined by a VIU calculation indicated no remaining headroom. If SABB generates lower profitability (relative to historical trends) over the medium term, there is a risk that our investment in SABB could become impaired. The basis of recoverable amount The impairment test was performed by comparing the recoverable amount of SABB, 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, which requires significant management judgement. A key component to the VIU calculation is management’s best estimate of SABB’s earnings, which is based on explicit forecasts over the short to medium term. This reflects the uncertainty arising from the current economic outlook. Earnings beyond the short to medium term are then extrapolated in perpetuity using a long-term growth rate to derive a terminal value, which comprises the majority of the VIU. Additionally, management considers other factors (including qualitative factors) to ensure that the inputs to the VIU calculation remain appropriate. Key assumptions in value-in-use calculation We used a number of assumptions in our VIU calculation, in accordance with the requirements of IAS 36: • Long-term profit growth rate: 2.55% for periods after 2023. This does not exceed forecast GDP growth in Saudi Arabia. • Long-term asset growth rate: 2.55% for periods after 2023. This is the rate that assets are expected to grow to achieve long-term profit growth of 2.55% . • Discount rate: 10.2% . This is based on a CAPM calculation for Saudi Arabia using market data. Management also compares the rate derived from the CAPM with cost of capital rates from external sources. • Management’s judgement in estimating the cash flows of SABB: Cash flow projections have considered the scale of the entity following the merger with Alawwal, current market conditions and our macroeconomic outlook. Sensitivity of VIU to reasonably possible changes in key assumptions At 30 June 2020, the Group’s investment in SABB was sensitive to reasonably possible adverse changes in key assumptions supporting the recoverable amount. The most sensitive inputs to the impairment test are set out in the following table. Input Reasonably possible change • Cash flow projections Cash flow projections decrease by 5%. This could result in an impairment of $0.1bn. • Discount rate Discount rate increases by 50bps. This could result in an impairment of $0.1bn. |
Goodwill and intangibles assets
Goodwill and intangibles assets Goodwill and intangibles assets | 6 Months Ended |
Jun. 30, 2020 | |
Intangible Assets [Abstract] | |
Goodwill and intangible assets | 11 Goodwill and intangible assets 30 Jun 31 Dec 2020 2019 Footnotes $m $m Goodwill 5,482 5,590 Present value of in-force long-term insurance business 9,379 8,945 Other intangible assets 1 4,577 5,628 At the end of the period 19,438 20,163 1 Included within other intangible assets is capitalised software with a net carrying amount of $3,861m (31 December 2019: $4,829m ). We considered the pervasive macroeconomic deterioration caused by the outbreak of Covid-19, along with the impact on forecast profitability in some businesses, to be an indicator of goodwill and capitalised software impairment. As a result, interim impairment tests were performed at 30 June 2020. Goodwill Impairment test at 30 June 2020 An interim impairment test was performed by comparing the estimated recoverable amount of a cash generating unit (‘CGU’) carrying goodwill, determined by a VIU calculation, with its carrying amount. At 30 June 2020, the goodwill allocated to Middle East and North Africa – WPB ( $41m ) was fully impaired. As disclosed on page 290 of our Annual Report and Accounts 2019 , a reasonable change in a single key assumption would not result in impairment of goodwill in our former Europe – RBWM CGU. Though taken together, a combination of reasonable changes in forecast cash flows ( 30% decrease) and an increase in the discount rate (by 100 bps) could result in a recoverable amount that is lower than the CGU’s carrying amount. The sensitivity profile of our new Europe – WPB CGU at 30 June 2020 is the same. Details regarding our change in global businesses are set out in Note 5 . No other CGUs are sensitive to changes in key assumptions that would result in impairment. Other intangible assets Impairment test at 30 June 2020 An impairment test was performed at 30 June 2020 by comparing the net carrying amount of capitalised software assets with their recoverable amounts. Recoverable amounts were determined by calculating an estimated VIU or fair value, as appropriate, for each underlying business that carries software assets. Our cash flow forecasts have been updated for changes in the external outlook, although current economic and geopolitical risks increase the inherent estimation uncertainty. We recognised $1.2 bn of capitalised software impairment related principally to businesses within HSBC Bank plc, our non-ring-fenced bank in Europe . This impairment reflected underperformance and deterioration in the future forecasts of these businesses, substantially relating to prior periods. Key assumptions in VIU calculation We used a number of assumptions in our VIU calculation, in accordance with the requirements of IAS 36 : • Management’s judgement in estimating future cash flows: We considered past business performance, the scale of the current impact from the Covid-19 outbreak on our operations, current market conditions and our macroeconomic outlook to estimate future earnings. As required by IFRSs, estimates of future cash flows exclude estimated cash inflows or outflows that are expected to arise from restructuring initiatives before an entity has a constructive obligation to carry out the plan, and would therefore have recognised a provision for restructuring costs. For some businesses, this means that the benefit of certain strategic actions are not included in this impairment assessment, including capital releases. • Long-term growth rates: The long-term growth rate is used to extrapolate the cash flows in perpetuity because of the long-term perspective of the businesses within the Group. Rates do not exceed forecast inflation for the countries and territories within which the Group operates. • Discount rates: Rates are based on a CAPM calculation considering market data for the businesses and geographies in which the Group operates. Discount rates ranged from 8.5% to 9.7% for HSBC Bank plc's businesses. Future software capitalisation We will continue to invest in digital capabilities to meet our strategic objectives. However, software capitalisation within businesses where impairment was identified will not resume until the performance outlook for each business indicates future profits are sufficient to support capitalisation. The cost of additional software investment in these businesses will be recognised as an operating expense until such time. |
Provisions
Provisions | 6 Months Ended |
Jun. 30, 2020 | |
Other Provisions, Contingent Liabilities And Contingent Assets [Abstract] | |
Provisions | 12 Provisions Restructuring Legal proceedings Customer Other Total Footnotes $m $m $m $m $m Provisions (excluding contractual commitments) At 31 Dec 2019 356 605 1,646 280 2,887 Additions 103 20 75 109 307 Amounts utilised (128 ) (70 ) (436 ) (91 ) (725 ) Unused amounts reversed (38 ) (29 ) (38 ) (44 ) (149 ) Exchange and other movements (58 ) (8 ) (99 ) 25 (140 ) At 30 Jun 2020 235 518 1,148 279 2,180 Contractual commitments 1 At 31 Dec 2019 511 Net change in expected credit loss provision and other movements 518 At 30 Jun 2020 1,029 Total provisions At 31 Dec 2019 3,398 At 30 Jun 2020 3,209 1 The contractual commitments provision includes off-balance sheet loan commitments and guarantees, for which expected credit losses are provided under IFRS 9. Further details of ‘Legal proceedings and regulatory matters’ are set out in Note 14 . 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. Further disclosure on ‘ECL on undrawn loan commitments and financial guarantees’ can be found in the ‘Credit risk’ section of the ‘Interim management report’ on page 56 . Payment protection insurance At 30 June 2020 , $613m (31 December 2019 : $ 1.1 bn) of the customer remediation provision relates to the estimated liability for redress in respect of the possible mis-selling of PPI policies in previous years. Payments totalling $376m were made during the first six months of 2020. At 30 June 2020 , contact was made with customers who collectively held 3.0 million policies, representing 56% of total policies sold. A total of 5.4 million PPI policies have been sold since 2000, generating estimated revenue of $3.2b n at 30 June 2020. The gross written premiums on these policies were approximately $4.2b n. As at 30 June 2020, there were an estimated 42,700 complaints still requiring assessment. Historical claim handling processes are monitored on a regular basis, and there remains potential for this review process to lead to additional rework costs in the future. Although the deadline for bringing complaints has passed, customers can still commence litigation for PPI mis-selling. Provision has been made for the best estimate of any obligation to pay compensation in respect of an estimated 43,000 future claims. However, the volume and quality of future claims through legal channels, and the amount of any compensation to be paid, remain uncertain. The provision also includes claims made by the Official Receiver to pursue redress amounts in respect of bankrupt and insolvent customers. The estimated liability for redress for both single and regular premium policies is calculated on the basis of a refund of the total premiums paid by the customer plus simple interest of 8% per annum (or the rate inherent to the related loan product where higher). Further estimated redress levels are based on historical redress paid to customers per policy. The PPI provision is based upon assumptions and estimates taken from historical experience. The profile of cases yet to be assessed, whether those submitted prior to the complaints deadline or subsequently via the legal channels, could therefore vary, leading to different uphold rates or average redress levels being used to arrive at the provision. We continued to monitor available information up until the date of the approval of the financial statements to ensure that the provision estimate was appropriate. Sensitivity to key assumptions An increase/decrease in customer redress volumes of 10,000 received through legal channels would increase/decrease the redress provision by approximately $16m , based on observed settlement rates and average redress during the first half of 2020. |
Contingent liabilities, contrac
Contingent liabilities, contractual commitments and guarantees | 6 Months Ended |
Jun. 30, 2020 | |
Other Provisions, Contingent Liabilities And Contingent Assets [Abstract] | |
Contingent liabilities, contractual commitments and guarantees | 13 Contingent liabilities, contractual commitments and guarantees At 30 Jun 31 Dec 2020 2019 Footnotes $m $m Guarantees and contingent liabilities: – financial guarantees 18,328 20,214 – performance and other guarantees 73,078 75,933 – other contingent liabilities 1,094 1,576 At the end of the period 92,500 97,723 Commitments: 1 – documentary credits and short-term trade-related transactions 6,201 6,316 – forward asset purchases and forward deposits placed 91,849 56,326 – standby facilities, credit lines and other commitments to lend 740,023 734,966 At the end of the period 838,073 797,608 1 Includes $ 648,156m of commitments at 30 June 2020 (31 December 2019: $ 600,029m ), to which the impairment requirements in IFRS 9 are applied where HSBC has become party to an irrevocable commitment. The preceding table discloses the nominal principal amounts of off-balance sheet liabilities and commitments for the Group, which represent the maximum amounts at risk should the contracts be fully drawn upon and the clients default. As a significant portion of guarantees and commitments are expected to expire without being drawn upon, the total of the nominal principal amounts is not indicative of future liquidity requirements. The expected credit loss provision relating to guarantees and commitments under IFRS 9 is disclosed in Note 12 . The majority of the guarantees have a term of less than one year, while guarantees with terms of more than one year are subject to HSBC’s annual credit review process. Contingent liabilities arising from legal proceedings, regulatory and other matters against Group companies are disclosed in Notes 12 14 . |
Legal proceedings and regulator
Legal proceedings and regulatory matters | 6 Months Ended |
Jun. 30, 2020 | |
Other Provisions, Contingent Liabilities And Contingent Assets [Abstract] | |
Legal proceedings and regulatory matters | 14 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 2019. 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 2020 (see Note 12 ). Where an individual provision is material, the fact that a provision has been made is stated and quantified, except to the extent that doing so would be seriously prejudicial. Any provision recognised does not constitute an admission of wrongdoing or legal liability. It is not practicable to provide an aggregate estimate of potential liability for our legal proceedings and regulatory matters as a class of contingent liabilities. Bernard L. Madoff Investment Securities LLC Bernard L. Madoff (‘Madoff’) was arrested in December 2008 and later pleaded guilty to running a Ponzi scheme. His firm, Bernard L. Madoff Investment Securities LLC (‘Madoff Securities’), is being liquidated in the US by a trustee (the ‘Trustee’). Various non-US HSBC companies provided custodial, administration and similar services to a number of funds incorporated outside the US whose assets were invested with Madoff Securities. Based on information provided by Madoff Securities as at 30 November 2008, the purported aggregate value of these funds was $8.4b n, including fictitious profits reported by Madoff. Based on information available to HSBC, the funds’ actual transfers to Madoff Securities minus their actual withdrawals from Madoff Securities during the time HSBC serviced the funds are estimated to have totalled approximately $4b n. Various HSBC companies have been named as defendants in lawsuits arising out of Madoff Securities’ fraud. US litigation: The Trustee has brought lawsuits against various HSBC companies and others in the US Bankruptcy Court for the Southern District of New York (the ‘US Bankruptcy Court’), seeking recovery of transfers from Madoff Securities to HSBC in an amount not yet pleaded or determined. HSBC and other parties to the actions have moved to dismiss the Trustee’s claims. The US Bankruptcy Court granted HSBC’s motion to dismiss with respect to certain of the Trustee’s claims in November 2016. In February 2019, the US Court of Appeals for the Second Circuit (the ‘Second Circuit Court of Appeals’) reversed that dismissal. Following the US Supreme Court’s denial of certiorari in June 2020, 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 issued an opinion, which ruled in favour of the defendants’ motion to dismiss in respect of certain claims by the liquidators for Fairfield and granted a motion by the liquidators to file amended complaints. As a result of that opinion, all claims against one of the HSBC companies were dismissed, and certain claims against the remaining HSBC defendants were also dismissed. 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, in January 2020, the liquidators filed amended complaints on the claims remaining in the US Bankruptcy Court. In March 2020, HSBC and other parties to the action moved to dismiss the amended complaints in the US Bankruptcy Court. UK litigation: The Trustee has filed a claim against various HSBC companies in the High Court of England and Wales, seeking recovery of transfers from Madoff Securities to HSBC in an amount not yet pleaded or determined. The deadline for service of the claim has been extended to September 2020 for UK-based defendants and November 2020 for all other defendants. 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, which has listed the hearing for April 2021. Luxembourg litigation: In April 2009, Herald Fund SPC (‘Herald’) (in liquidation since July 2013) brought an action against HSSL before the Luxembourg District Court, seeking restitution of cash and securities that Herald purportedly lost because of Madoff Securities’ fraud, or money damages. The Luxembourg District Court dismissed Herald’s securities restitution claim, but reserved Herald’s cash restitution claim and its claim for money damages. Herald has appealed this judgment to the Luxembourg Court of Appeal, where the matter is pending. In late 2018, Herald brought additional claims against HSSL and HSBC Bank plc 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. Ireland litigation: In November 2013, Defender Limited brought an action against HSBC Institutional Trust Services (Ireland) Limited (‘HTIE’) and others, based on allegations of breach of contract and claiming damages and indemnification for fund losses. The trial commenced in October 2018. In December 2018, the Irish High Court issued a judgment in HTIE’s favour on a preliminary issue, holding that Defender Limited had no effective claim against HTIE. This judgment concluded the trial without further issues in dispute being heard. In February 2019, Defender Limited appealed the decision. In July 2020, the Irish Supreme Court ruled in part in favour of Defender Limited and returned the case to the High Court for further proceedings. 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 up to or exceeding $500m , 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, among other agreements, HSBC Holdings agreed to an undertaking with the UK Financial Services Authority, which was replaced by a Direction issued by the UK Financial Conduct Authority (‘FCA’) in 2013, and again in July 2020, and consented to a cease-and-desist order with the US Federal Reserve Board (‘FRB’), both of which contained certain forward-looking anti-money laundering (‘AML’) and sanctions-related obligations. HSBC also agreed to retain an independent compliance monitor (who is, for FCA purposes, a ‘Skilled Person’ under section 166 of the Financial Services and Markets Act and, for FRB purposes, an ‘Independent Consultant’) to produce periodic assessments of the Group’s AML and sanctions compliance programme (the ‘Skilled Person/Independent Consultant’). In December 2012, HSBC Holdings also entered into an agreement with the Office of Foreign Assets Control (‘OFAC’) regarding historical transactions involving parties subject to OFAC sanctions. HSBC’s engagement with the Skilled Person appointed pursuant to the 2013 Direction was terminated in February 2020 and a new Skilled Person with a narrower mandate has been appointed to assess the remaining areas that require further work in order for HSBC to transition fully to business-as-usual financial crime risk management. The Independent Consultant will continue to carry out an annual OFAC compliance review at the FRB’s discretion. The role of the Skilled Person/Independent Consultant is discussed on page 145 of the Annual Report and Accounts 2019 . Through the Skilled Person/Independent Consultant’s prior reviews, as well as internal reviews conducted by HSBC, certain potential AML and sanctions compliance issues have been identified that HSBC is reviewing further with the FRB, FCA and/or OFAC. The Financial Crimes Enforcement Network of the US Treasury Department, as well as the Civil Division of the US Attorney’s Office for the Southern District of New York, are investigating the collection and transmittal of third-party originator information in certain payments instructed over HSBC’s proprietary payment systems. The FCA is also conducting an investigation into HSBC Bank plc’s and HSBC UK Bank plc’s compliance with UK money laundering regulations and financial crime systems and controls requirements. HSBC is cooperating with all of these investigations. In May 2014, a shareholder derivative action was filed by a shareholder of HSBC Holdings purportedly on behalf of HSBC Holdings, HSBC Bank USA N.A. (‘HSBC Bank USA’), HSBC North America Holdings Inc. and HSBC USA Inc. (the ‘Nominal Corporate Defendants’) in New York state court against certain current and former directors and officers of the Nominal Corporate Defendants (the ‘Individual Defendants’). The complaint alleges that the Individual Defendants breached their fiduciary duties to the Nominal Corporate Defendants and caused a waste of corporate assets by allegedly permitting and/or causing the conduct underlying the five -year deferred prosecution agreement with the US Department of Justice (‘DoJ’), entered into in December 2012. In November 2015, the New York state court granted the Nominal Corporate Defendants’ motion to dismiss, but the appellate court reversed the decision in November 2018 and reinstated the action. In June 2020, the parties reached an agreement to resolve this derivative action. In July 2020, t he court granted preliminary approval of the settlement, under which HSBC will receive a payment from directors and officers liability insurance carriers and will continue for a period of time certain corporate governance practices. The final settlement approval hearing has been scheduled for October 2020. Since November 2014, a number of lawsuits have been filed in federal courts in the US against various HSBC companies and others on behalf of plaintiffs who are, or are related to, victims of terrorist attacks in the Middle East or of cartel violence in Mexico. In each case, it is alleged that the defendants aided and abetted the unlawful conduct of various sanctioned parties in violation of the US Anti-Terrorism Act. Currently, 10 actions remain pending in federal courts in New York or the District of Columbia. In March, September and October 2019, the courts granted HSBC’s motions to dismiss in three of these cases. The plaintiffs have appealed the decisions in two of these cases and are seeking certification to appeal in the third case. HSBC has filed motions to dismiss in three further cases, two of which were granted in June 2020, while the third remains pending. The four remaining actions are at a very 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 (the ‘EC’) issued a decision finding that HSBC, among other banks, engaged in anti-competitive practices in connection with the pricing of euro interest rate derivatives in early 2007. The EC imposed a fine on HSBC based on a one -month infringement. HSBC appealed the decision and, in September 2019, the General Court of the European Union (the ‘General Court’) issued a decision largely upholding the EC’s findings on liability but annulling the fine. HSBC and the EC have both appealed the General Court’s decision to the European Court of Justice. US dollar Libor: Beginning in 2011, HSBC and other panel banks have been named as defendants in a number of private lawsuits filed in the US with respect to the setting of US dollar Libor. The complaints assert claims under various US laws, including US antitrust and racketeering laws, the US Commodity Exchange Act (‘US CEA’) and state law. The lawsuits include individual and putative class actions, most of which have been transferred and/or consolidated for pre-trial purposes before the New York District Court. In 2017 and 2018, HSBC reached agreements with plaintiffs to resolve putative class actions brought on behalf of the following five groups of plaintiffs: persons who purchased US dollar Libor-indexed bonds; persons who purchased US dollar Libor-indexed exchange-traded instruments; US-based lending institutions that made or purchased US dollar Libor-indexed loans (the ‘Lender class’); persons who purchased US dollar Libor-indexed interest rate swaps and other instruments directly from the defendant banks and their affiliates (the ‘OTC class’); and persons who purchased US dollar Libor-indexed interest rate swaps and other instruments from certain financial institutions that are not the defendant banks or their affiliates. During 2018, the New York District Court granted final approval of the settlements with the OTC and Lender classes. The remaining settlements are subject to final court approval. Additionally, a number of other US dollar Libor-related actions remain pending against HSBC in the New York District Court and the Second Circuit Court of Appeals. Intercontinental Exchange (‘ICE’) Libor: Between January and March 2019, HSBC and other panel banks were named as defendants in three putative class actions filed in the New York District Court on behalf of persons and entities who purchased instruments paying interest indexed to US dollar ICE Libor from a panel bank. The complaints allege, among other things, misconduct related to the suppression of this benchmark rate in violation of US antitrust and state law. In July 2019, the three putative class actions were consolidated, and the plaintiffs filed a consolidated amended complaint. In March 2020, the court granted the defendants’ joint motion to dismiss in its entirety. The plaintiffs have appealed. Singapore interbank offered rate (‘Sibor’), Singapore swap offer rate (‘SOR’) and Australia bank bill swap rate (‘BBSW’): In July and August 2016, HSBC and other panel banks were named as defendants in two putative class actions filed in the New York District Court on behalf of persons who transacted in products related to the Sibor, SOR and BBSW benchmark rates. The complaints allege, among other things, misconduct related to these benchmark rates in violation of US antitrust, commodities and racketeering laws, and state law. In the Sibor/SOR litigation, following a decision on the defendants’ motion to dismiss in October 2018, the claims against a number of HSBC entities were dismissed, and The Hongkong and Shanghai Banking Corporation Limited (‘HBAP’) remained as the only HSBC defendant in this action. In October 2018, HBAP filed a motion for reconsideration of the decision based on the issue of personal jurisdiction. This motion was denied in April 2019. Also in October 2018, the plaintiffs filed a third amended complaint naming only the Sibor panel members, including HBAP, as defendants. The court dismissed the third amended complaint in its entirety in July 2019 against all defendants. In August 2019, the plaintiffs filed an appeal to the Second Circuit Court of Appeals, which remains pending. In the BBSW litigation, in November 2018, the court dismissed all foreign defendants, including all the HSBC entities, on personal jurisdiction grounds. In April 2019, the plaintiffs filed an amended complaint, which the defendants moved to dismiss. In February 2020, the court again dismissed the plaintiffs’ amended complaint against all the HSBC entities. There are many factors that may affect the range of outcomes, and the resulting financial impact, of these matters, which could be significant. Foreign exchange-related investigations and litigation Various regulators and competition authorities around the world, including in the EU, Brazil and South Africa, are conducting investigations and reviews into trading by HSBC and others on the foreign exchange markets. HSBC is cooperating with these investigations and reviews. In January 2018, HSBC Holdings entered into a three -year deferred prosecution agreement with the Criminal Division of the DoJ (the ‘FX DPA’), regarding fraudulent conduct in connection with two particular transactions in 2010 and 2011. This concluded the DoJ’s investigation into HSBC’s historical foreign exchange activities. Under the terms of the FX DPA, HSBC has a number of ongoing obligations, including implementing enhancements to its internal controls and procedures in its Global Markets business, which will be the subject of annual reports to the DoJ. In addition, HSBC agreed to pay a financial penalty and restitution. In December 2016, Brazil’s Administrative Council of Economic Defense initiated an investigation into the onshore foreign exchange market and identified a number of banks, including HSBC, as subjects of its investigation. In 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 October 2018, HSBC Holdings and HSBC Bank plc received an information request from the EC concerning potential coordination in foreign exchange options trading. In May 2020, HSBC was informed that the EC had discontinued its investigation and does not intend to take further action. In late 2013 and early 2014, various HSBC companies and other banks were named as defendants in various putative class actions consolidated in the New York District Court. The consolidated complaint alleged, among other things, that the defendants conspired to manipulate the WM/Reuters foreign exchange benchmark rates. In September 2015, HSBC reached an agreement with the plaintiffs to resolve the consolidated action, and the court granted final approval of the settlement in August 2018. A putative class action complaint making similar allegations on behalf of retail customers of foreign exchange products was filed in the US District Court for the Northern District of California in 2015, and was subsequently transferred to the New York District Court where it remains pending. In 2017, putative class action complaints making similar allegations on behalf of purported indirect purchasers of foreign exchange products were filed in New York and were subsequently consolidated in the New York District Court. In April 2020, HSBC reached an agreement with the plaintiffs to resolve the indirect purchaser action. The settlement remains subject to final court approval. In September 2018, various HSBC companies and other banks were named as defendants in two motions for certification of class actions filed in Israel alleging foreign exchange-related misconduct. In July 2019, the Tel Aviv Court allowed the plaintiffs to consolidate their claims and, in September 2019, the plaintiffs filed a motion for certification of the consolidated class action. In November and December 2018, complaints alleging foreign exchange-related misconduct were filed in the New York District Court and the High Court of England and Wales against HSBC and other defendants by certain plaintiffs that opted out of the US class action settlement. In May 2020, the court granted in part and denied in part the defendants’ motion to dismiss the US opt-out actions. These matters remain at an early stage. It is possible that additional civil actions will be initiated against HSBC in relation to its historical foreign exchange activities. There are many factors that may affect the range of outcomes, and the resulting financial impact, of these matters, which could be significant. Precious metals fix-related litigation Gold: Beginning in March 2014, numerous putative class actions were filed in the New York District Court and the US District Courts for the District of New Jersey and the Northern District of California, naming HSBC and other members of The London Gold Market Fixing Limited as defendants. The complaints allege that, from January 2004 to June 2013, the defendants conspired to manipulate the price of gold and gold derivatives for their collective benefit in violation of US antitrust laws, the US CEA and New York state law. The actions were consolidated in the New York District Court. The defendants’ motion to dismiss the consolidated action was granted in part and denied in part in October 2016. In June 2017, the court granted the plaintiffs leave to file a third amended complaint, naming a new defendant. The court has denied the pre-existing defendants’ request for leave to file a joint motion to dismiss, and discovery is proceeding. Beginning in December 2015, numerous putative class actions under Canadian law were filed in the Ontario and Quebec Superior Courts of Justice against various HSBC companies and other financial institutions. The plaintiffs allege that, among other things, from January 2004 to March 2014, the defendants conspired to manipulate the price of gold and gold derivatives in violation of the Canadian Competition Act and common law. These actions are at an early stage. Silver: Beginning in July 2014, numerous putative class actions were filed in federal district courts in New York, naming HSBC and other members of The London Silver Market Fixing Limited as defendants. The complaints allege that, from January 2007 to December 2013, the defendants conspired to manipulate the price of silver and silver derivatives for their collective benefit in violation of US antitrust laws, the US CEA and New York state law. The actions were consolidated in the New York District Court. The defendants’ motion to dismiss the consolidated action was granted in part and denied in part in October 2016. In June 2017, the court granted the plaintiffs leave to file a third amended complaint, which names several new defendants. The court has denied the pre-existing defendants’ request for leave to file a joint motion to dismiss, and discovery is proceeding. In April 2016, two putative class actions under Canadian law were filed in the Ontario and Quebec Superior Courts of Justice against various HSBC companies and other financial institutions. The plaintiffs in both actions allege that, from January 1999 to August 2014, the defendants conspired to manipulate the price of silver and silver derivatives in violation of the Canadian Competition Act and common law. The Ontario action is at an early stage. The Quebec action has been temporarily stayed. Platinum and palladium: Between late 2014 and early 2015, numerous putative class actions were filed in the New York District Court, naming HSBC and other members of The London Platinum and Palladium Fixing Company Limited as defendants. The complaints allege that, from January 2008 to November 2014, the defendants conspired to manipulate the price of platinum group metals (‘PGM’) and PGM-based financial products for their collective benefit in violation of US antitrust laws and the US CEA. In March 2017, the defendants’ motion to dismiss the second amended consolidated complaint was granted in part and denied in part. In June 2017, the plaintiffs filed a third amended complaint. In March 2020, the court granted the defendants' motion to dismiss the 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. These actions are ongoing. In December 2018, a separate action was brought against PBGB in the High Court of England and Wales by multiple claimants seeking damages for alleged unlawful means conspiracy and dishonest assistance in connection with lending provided by PBGB to third parties in respect of certain Ingenious film finance schemes in which the claimants participated. In June 2019, a similar claim was issued against PBGB in the High Court of England and Wales by additional claimants. These actions are ongoing. In June 2020, two separate claims were issued against HSBC UK Bank plc (as successor to PBGB’s business) by two separate groups of investors in Eclipse film finance schemes in connection with PBGB’s role in facilitating the design, promotion and operation of such schemes. Only one of these claims has been served to date. These matters are at an early stage. In February 2020, a claim was issued against HSBC UK Bank plc (as successor to PBGB’s business) by two individuals in relation to the Zeus film finance schemes. Separately, in June 2020, HSBC UK Bank plc received an application for disclosure of documents by a law firm acting on behalf of a number of investors in the Zeus schemes. These matters are at an early stage. It is possible that additional actions or investigations will be initiated against HSBC UK Bank plc as a result of PBGB’s historical involvement in the provision of certain film finance-related services. Based on the facts currently known, it is not practicable to predict the resolution of these matters, including the timing or any possible impact on HSBC, 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; • an investigation by the Swiss Competition Commission in connection with the setting of Euribor and Japanese yen Libor; • an investigation by the FCA in connection with collections and recoveries operations in the UK; • an information request from the UK Competition and Markets Authority concerning the financial services sector; • putative class actions brought in the New York District Court relating to the Mexican government bond market, the US government-sponsored enterprise bond market, and the market for US dollar-denominated supranational sovereign and agency bonds; • 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, 2020 | |
Related Party [Abstract] | |
Transactions with related parties | 15 Transactions with related parties There were no changes in the related party transactions described in the Annual Report and Accounts 2019 that have had a material effect on the financial position or performance of HSBC in the half-year to 30 June 2020 . All related party transactions that took place in the half-year to 30 June 2020 were similar in nature to those disclosed in the Annual Report and Accounts 2019 . |
Events after the balance sheet
Events after the balance sheet date | 6 Months Ended |
Jun. 30, 2020 | |
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. |
Interim Report 2020 and statuto
Interim Report 2020 and statutory accounts | 6 Months Ended |
Jun. 30, 2020 | |
Interim Financial Reporting [Abstract] | |
Interim Report 2020 and statutory accounts | 17 Interim Report 2020 and statutory accounts The information in this Interim Report 2020 is unaudited and does not constitute statutory accounts within the meaning of section 434 of the Companies Act 2006. This Interim Report 2020 was approved by the Board of Directors on 3 August 2020 . The statutory accounts of HSBC Holdings plc for the year ended 31 December 2019 have been delivered to the Registrar of Companies in England and Wales in accordance with section 447 of the Companies Act 2006. |
Report Of The Directors Financi
Report Of The Directors Financial Review Risk Report | 6 Months Ended |
Jun. 30, 2020 | |
Report Of The Directors Financial Review Risk Report [Abstract] | |
Report Of The Directors Financial Review Risk Report | Reconciliation of changes in gross carrying/nominal amount and allowances for loans and advances to banks and customers including 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 2020 1,561,613 (1,464 ) 105,551 (2,441 ) 14,335 (5,121 ) 345 (99 ) 1,681,844 (9,125 ) Transfers of financial instruments: (138,661 ) (148 ) 131,316 498 7,345 (350 ) — — — — – transfers from stage 1 to stage 2 (175,849 ) 489 175,849 (489 ) — — — — — — – transfers from stage 2 to stage 1 39,559 (638 ) (39,559 ) 638 — — — — — — – transfers to stage 3 (2,724 ) 11 (5,434 ) 392 8,158 (403 ) — — — — – transfers from stage 3 353 (10 ) 460 (43 ) (813 ) 53 — — — — Net remeasurement of ECL arising from transfer of stage — 355 — (558 ) — (712 ) — — — (915 ) Changes due to modifications not derecognised — — — — — — — — — — New financial assets originated or purchased 215,501 (291 ) — — — — 12 — 215,513 (291 ) Asset derecognised (including final repayments) (163,342 ) 52 (12,522 ) 203 (1,064 ) 176 (20 ) 1 (176,948 ) 432 Changes to risk parameters – further lending/repayments 13,119 (169 ) 2,831 (221 ) (300 ) 63 (31 ) (1 ) 15,619 (328 ) Change in risk parameters – credit quality — (620 ) — (2,561 ) — (2,266 ) — (3 ) — (5,450 ) Changes to models used for ECL calculation — 30 — (63 ) — (9 ) — — — (42 ) Assets written off — — — — (1,249 ) 1,249 — — (1,249 ) 1,249 Credit-related modifications that resulted in derecognition — — — — (1 ) — — — (1 ) — Foreign exchange (43,145 ) 90 (2,672 ) 162 (588 ) 196 (13 ) 4 (46,418 ) 452 Other 36 12 93 (7 ) 16 (8 ) 7 (1 ) 152 (4 ) At 30 Jun 2020 1,445,121 (2,153 ) 224,597 (4,988 ) 18,494 (6,782 ) 300 (99 ) 1,688,512 (14,022 ) ECL income statement change for the period 1 (643 ) (3,200 ) (2,748 ) (3 ) (6,594 ) Recoveries 127 Other 3 Total ECL income statement change for the period (6,464 ) 1 In addition to the $2.8 bn stage 3 (personal: $0.6 bn, wholesale: $2.2 bn) and POCI ECL income statement charge for the period presented above, the Group also recognised a stage 3 and POCI ECL income statement charge of $0.2 bn in respect of other financial assets measured at amortised cost, performance and other guarantees and debt instruments measured at FVOCI. At 30 Jun 2020 6 months ended 30 Jun 2020 Gross carrying/nominal amount Allowance for ECL ECL charge $m $m $m As above 1,688,512 (14,022 ) (6,464 ) Other financial assets measured at amortised cost 751,872 (243 ) (127 ) Non-trading reverse purchase agreement commitments 86,949 — — Performance and other guarantees — — (157 ) Summary of financial instruments to which the impairment requirements in IFRS 9 are applied/Summary consolidated income statement 2,527,333 (14,265 ) (6,748 ) Debt instruments measured at FVOCI 402,331 (242 ) (110 ) Total allowance for ECL/total income statement ECL charge for the period n/a (14,507 ) (6,858 ) Reconciliation of changes in gross carrying/nominal amount and allowances for loans and advances to banks and customers including Non-credit impaired Credit impaired Stage 1 Stage 2 Stage 3 POCI Total Gross carrying/ nominal amount Allowance for ECL Gross carrying/ nominal amount Allowance for ECL Gross carrying/ nominal amount Allowance for ECL Gross carrying/ nominal amount Allowance for ECL Gross carrying/ nominal amount Allowance for ECL $m $m $m $m $m $m $m $m $m $m At 1 Jan 2019 1,502,976 (1,449 ) 95,104 (2,278 ) 14,232 (5,135 ) 334 (194 ) 1,612,646 (9,056 ) Transfers of financial instruments: (36,244 ) (543 ) 31,063 1,134 5,181 (591 ) — — — — – transfers from stage 1 to stage 2 (108,434 ) 487 108,434 (487 ) — — — — — — – transfers from stage 2 to stage 1 73,086 (1,044 ) (73,086 ) 1,044 — — — — — — – transfers to stage 3 (1,284 ) 59 (5,022 ) 665 6,306 (724 ) — — — — – transfers from stage 3 388 (45 ) 737 (88 ) (1,125 ) 133 — — — — Net remeasurement of ECL arising from transfer of stage — 669 — (676 ) — (114 ) — — — (121 ) New financial assets originated or purchased 504,064 (534 ) — — — — 135 (21 ) 504,199 (555 ) Assets derecognised (including final repayments) (352,961 ) 112 (19,909 ) 553 (2,712 ) 656 (26 ) 8 (375,608 ) 1,329 Changes to risk parameters – further lending/repayment (72,239 ) 291 (2,560 ) 67 402 (6 ) 28 12 (74,369 ) 364 Changes in risk parameters – credit quality — 2 — (1,208 ) — (2,704 ) — (51 ) — (3,961 ) Changes to models used for ECL calculation — (6 ) — 4 — 14 — — — 12 Assets written off — — — — (2,657 ) 2,657 (140 ) 140 (2,797 ) 2,797 Credit-related modifications that resulted in derecognition — — — — (268 ) 125 — — (268 ) 125 Foreign exchange 16,838 (9 ) 1,201 (40 ) 160 (31 ) 1 1 18,200 (79 ) Other (821 ) 3 652 3 (3 ) 8 13 6 (159 ) 20 At 31 Dec 2019 1,561,613 (1,464 ) 105,551 (2,441 ) 14,335 (5,121 ) 345 (99 ) 1,681,844 (9,125 ) ECL income statement change for the period 534 (1,260 ) (2,154 ) (52 ) (2,932 ) Recoveries 361 Others (20 ) Total ECL income statement change for the period 1 (2,591 ) At 31 Dec 2019 12 months ended Gross carrying/nominal amount Allowance for ECL ECL charge $m $m $m As above 1,681,844 (9,125 ) (2,591 ) Other financial assets measured at amortised cost 615,179 (118 ) (26 ) Non-trading reverse purchase agreement commitments 53,093 — — Performance and other guarantees — — (34 ) Summary of financial instruments to which the impairment requirements in IFRS 9 are applied/Summary consolidated income statement 2,350,116 (9,243 ) (2,651 ) Debt instruments measured at FVOCI 355,664 (166 ) (105 ) Total allowance for ECL/total income statement ECL charge for the period n/a (9,409 ) (2,756 ) 1 The 31 December 2019 total ECL income statement change of $2,591m is attributable to $1,136m for the six months ended 30 June 2019 and $1,455m to the six months ended 31 December 2019. Credit quality of financial instruments We assess the credit quality of all financial instruments that are subject to credit risk. The credit quality of financial instruments is a point-in-time assessment of PD, whereas stages 1 and 2 are determined based on relative deterioration of credit quality since initial recognition. Accordingly, for non-credit-impaired financial instruments, there is no direct relationship between the credit quality assessment and stages 1 and 2, though typically the lower credit quality bands exhibit a higher proportion in stage 2. The five credit quality classifications each encompass a range of granular internal credit rating grades assigned to wholesale and personal lending businesses and the external ratings attributed by external agencies to debt securities, as shown in the following table. Personal lending credit quality is disclosed based on a 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 for ECL Net Strong Good Satisfactory Sub- Credit impaired Total Footnotes $m $m $m $m $m $m $m $m Loans and advances to customers at amortised cost 493,586 243,340 248,791 28,756 17,435 1,031,908 (13,227 ) 1,018,681 – stage 1 480,945 203,612 160,839 7,282 — 852,678 (1,906 ) 850,772 – stage 2 12,641 39,728 87,952 21,474 — 161,795 (4,553 ) 157,242 – stage 3 — — — — 17,139 17,139 (6,669 ) 10,470 – POCI — — — — 296 296 (99 ) 197 Loans and advances to banks at amortised cost 69,599 4,039 2,382 1,040 9 77,069 (54 ) 77,015 – stage 1 66,544 2,919 2,142 88 — 71,693 (26 ) 71,667 – stage 2 3,055 1,120 240 952 — 5,367 (23 ) 5,344 – stage 3 — — — — 9 9 (5 ) 4 – POCI — — — — — — — — Other financial assets measured at amortised cost 665,256 60,821 24,788 774 233 751,872 (243 ) 751,629 – stage 1 664,153 58,654 21,716 201 — 744,724 (96 ) 744,628 – stage 2 1,103 2,167 3,072 573 — 6,915 (63 ) 6,852 – stage 3 — — — — 232 232 (84 ) 148 – POCI — — — — 1 1 — 1 Loan and other credit-related commitments 407,827 149,477 81,707 8,087 1,058 648,156 (622 ) 647,534 – stage 1 400,182 131,509 60,334 2,375 — 594,400 (193 ) 594,207 – stage 2 7,645 17,968 21,373 5,712 — 52,698 (339 ) 52,359 – stage 3 — — — — 1,055 1,055 (90 ) 965 – POCI — — — — 3 3 — 3 Financial guarantees 6,348 5,393 5,068 1,223 296 18,328 (119 ) 18,209 – stage 1 5,918 4,290 2,590 331 — 13,129 (28 ) 13,101 – stage 2 430 1,103 2,478 892 — 4,903 (73 ) 4,830 – stage 3 — — — — 295 295 (18 ) 277 – POCI — — — — 1 1 — 1 At 30 Jun 2020 1,642,616 463,070 362,736 39,880 19,031 2,527,333 (14,265 ) 2,513,068 Debt instruments at FVOCI 1 – stage 1 369,864 9,395 9,533 — — 388,792 (124 ) 388,668 – stage 2 2,812 616 387 962 — 4,777 (18 ) 4,759 – stage 3 — — — — 280 280 (100 ) 180 – POCI — — — — — — — — At 30 Jun 2020 372,676 10,011 9,920 962 280 393,849 (242 ) 393,607 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 Footnotes $m $m $m $m $m $m $m $m Loans and advances to customers at amortised cost 524,889 258,402 228,485 20,007 13,692 1,045,475 (8,732 ) 1,036,743 – stage 1 523,092 242,631 181,056 4,804 — 951,583 (1,297 ) 950,286 – stage 2 1,797 15,771 47,429 15,185 — 80,182 (2,284 ) 77,898 – stage 3 — — — — 13,378 13,378 (5,052 ) 8,326 – POCI — — — 18 314 332 (99 ) 233 Loans and advances to banks at amortised cost 60,636 5,329 1,859 1,395 — 69,219 (16 ) 69,203 – stage 1 60,548 5,312 1,797 112 — 67,769 (14 ) 67,755 – stage 2 88 17 62 1,283 — 1,450 (2 ) 1,448 – stage 3 — — — — — — — — – POCI — — — — — — — — Other financial assets measured at amortised cost 537,253 54,505 22,766 503 152 615,179 (118 ) 615,061 – stage 1 536,942 54,058 21,921 279 — 613,200 (38 ) 613,162 – stage 2 311 447 845 224 — 1,827 (38 ) 1,789 – stage 3 — — — — 151 151 (42 ) 109 – POCI — — — — 1 1 — 1 Loan and other credit-related commitments 369,424 146,988 77,499 5,338 780 600,029 (329 ) 599,700 – stage 1 368,711 141,322 66,283 1,315 — 577,631 (137 ) 577,494 – stage 2 713 5,666 11,216 4,023 — 21,618 (133 ) 21,485 – stage 3 — — — — 771 771 (59 ) 712 – POCI — — — — 9 9 — 9 Financial guarantees 7,441 6,033 5,539 1,011 190 20,214 (48 ) 20,166 – stage 1 7,400 5,746 4,200 338 — 17,684 (16 ) 17,668 – stage 2 41 287 1,339 673 — 2,340 (22 ) 2,318 – stage 3 — — — — 186 186 (10 ) 176 – POCI — — — — 4 4 — 4 At 31 Dec 2019 1,499,643 471,257 336,148 28,254 14,814 2,350,116 (9,243 ) 2,340,873 Debt instruments at FVOCI 1 – stage 1 333,072 10,941 6,902 — — 350,915 (39 ) 350,876 – stage 2 86 25 320 544 — 975 (127 ) 848 – stage 3 — — — — — — — — – POCI — — — — 1 1 — 1 At 31 Dec 2019 333,158 10,966 7,222 544 1 351,891 (166 ) 351,725 1 For the purposes of this disclosure, gross carrying value is defined as the amortised cost of a financial asset, before adjusting for any loss allowance. As such, the gross carrying value of debt instruments at FVOCI will not reconcile to the balance sheet as it excludes fair value gains and losses. |
Basis of preparation and sign_2
Basis of preparation and significant accounting policies (Policies) | 6 Months Ended |
Jun. 30, 2020 | |
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 in accordance with the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority and IAS 34 ‘Interim Financial Reporting’, as issued by the International Accounting Standards Board (‘IASB’) and as endorsed by the EU. 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 2019. These financial statements should be read in conjunction with the Annual Report and Accounts 2019 . At 30 June 2020 , there were no unendorsed standards effective for the half-year to 30 June 2020 affecting these financial statements, and there was no difference between IFRSs endorsed 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 2020 There were no new standards or amendments to standards that had an effect on these interim condensed consolidated financial statements. |
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, goodwill impairment, the valuation of financial instruments, deferred tax assets, provisions for liabilities, defined benefit obligations and interests in associates. There were no changes in the current period to the critical accounting estimates and judgements applied in 2019, which are stated on pages 47 and 242 of the Annual Report and Accounts 2019 . However, the level of estimation uncertainty and judgement for the calculation of expected credit losses (‘ECL’) has increased since 31 December 2019 as a result of the economic effects of the Covid-19 outbreak as set out in ‘Measurement uncertainty and sensitivity analysis’ on page 60 . In addition, as a result of the heightened economic uncertainty together with the plans announced in the 2020 business update and historical underperformance of certain businesses, the estimates and judgements with regard to the expected cash flows of cash generating units, which are applied to the impairment of non-financial assets other than goodwill, particularly intangible assets, have become more sensitive and resulted in significant impairment charges in the interim reporting period. See Note 11 ‘Goodwill and intangible assets’ . |
Future accounting developments | (d) Future accounting developments I FRS 17 ‘Insurance Contracts’ was issued in May 2017, with amendments to the standard issued in June 2020. It has not been endorsed for use in the EU. 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 is 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. |
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 that reflect the increasing uncertainty that the global Covid-19 pandemic has had on HSBC’s operations, 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, 2020 | |
Analysis of income and expense [abstract] | |
Summary of net fee income | Half-year to 30 Jun 30 Jun 31 Dec 2020 2019 2019 Total Total Total Footnotes $m $m $m Net fee income by product Funds under management 1,113 1,067 1,110 Cards 954 968 1,007 Broking income 743 544 513 Credit facilities 726 805 813 Account services 649 1,034 969 Underwriting 552 446 383 Unit trusts 455 546 489 Global custody 446 342 375 Remittances 325 373 374 Imports/exports 288 338 324 Insurance agency commission 171 200 177 Other 1,058 1,141 1,101 Fee income 7,480 7,804 7,635 Less: fee expense (1,554 ) (1,680 ) (1,736 ) Net fee income 5,926 6,124 5,899 Net fee income by global business 1 Wealth and Personal Banking 2,691 2,870 2,765 Commercial Banking 1,630 1,773 1,617 Global Banking and Markets 1,608 1,489 1,550 Corporate Centre (3 ) (8 ) (33 ) 1 A change in reportable segments was made in 2Q20. Comparative data have been re-presented accordingly. For further guidance, refer to Note 5 on page 102 . |
Dividends (Tables)
Dividends (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Interim Financial Reporting [Abstract] | |
Disclosure of dividends to shareholders | Dividends paid to shareholders of HSBC Holdings plc Half-year to 30 Jun 2020 30 Jun 2019 31 Dec 2019 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: – fourth interim dividend — — — 0.21 4,206 1,160 — — — In respect of current year: – first interim dividend 1 — — — — — — 0.10 2,013 375 – second interim dividend — — — — — — 0.10 2,021 795 – third interim dividend — — — — — — 0.10 2,029 357 Total — — — 0.21 4,206 1,160 0.30 6,063 1,527 Total dividends on preference shares classified as equity (paid quarterly) 31.00 45 31.00 45 31.00 45 Total coupons on capital securities classified as equity 617 664 660 Dividends to shareholders 662 4,915 6,768 1 At 30 June 2019, HSBC changed its accounting practice on the recognition of interim dividends to recognise them on the date of payment rather than the date of declaration, in line with generally accepted accounting practice. |
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 2020 2019 2019 Total Total Total Footnotes First call date Per security $m $m $m Perpetual subordinated contingent convertible securities 1 – $1,500m issued at 5.625% 2 Nov 2019 $56.250 — 42 42 – $2,000m issued at 6.875% Jun 2021 $68.750 69 69 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 58 59 – €1,500m issued at 5.250% Sep 2022 €52.500 44 45 43 – €1,000m issued at 6.000% Sep 2023 €60.000 33 34 32 – €1,250m issued at 4.750% July 2029 €47.500 33 34 34 – SGD1,000m issued at 4.700% Jun 2022 SGD47.000 17 17 17 – SGD750m issued at 5.000% Sep 2023 SGD50.000 13 14 14 – £1,000m issued at 5.875% Sep 2026 £58.750 36 38 37 Total 617 664 660 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 22 November 2019 and was redeemed and cancelled on 17 January 2020. |
Earnings per share (Tables)
Earnings per share (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Earnings per share [abstract] | |
Disclosure of detailed information on earnings per share | Profit/(loss) attributable to ordinary shareholders of the parent company Half-year to 30 Jun 30 Jun 31 Dec 2020 2019 2019 $m $m $m Profit attributable to shareholders of the parent company 2,639 9,216 (1,833 ) Dividend payable on preference shares classified as equity (45 ) (45 ) (45 ) Coupon payable on capital securities classified as equity (617 ) (664 ) (660 ) Profit/(loss) attributable to ordinary shareholders of the parent company 1,977 8,507 (2,538 ) Basic and diluted earnings per share Half-year to 30 Jun 2020 30 Jun 2019 31 Dec 2019 Profit Number Amount per share Profit Number Amount per share Profit/(loss) Number Amount per share Footnotes $m (millions) $ $m (millions) $ $m (millions) $ Basic 1 1,977 20,162 0.10 8,507 20,124 0.42 (2,538 ) 20,191 (0.13 ) Effect of dilutive potential ordinary shares 58 65 — Diluted 1 1,977 20,220 0.10 8,507 20,189 0.42 (2,538 ) 20,191 (0.13 ) 1 Weighted average number of ordinary shares outstanding (basic) or assuming dilution (diluted). |
Segmental analysis (Tables)
Segmental analysis (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
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 2020 Wealth and Personal Banking Commercial Global Corporate Centre Total Footnotes $m $m $m $m $m Net operating income before change in expected credit losses and other credit impairment charges 1 11,251 7,000 8,178 48 26,477 – external 9,684 7,431 10,105 (743 ) 26,477 – inter-segment 1,567 (431 ) (1,927 ) 791 — of which: net interest income/(expense) 8,032 4,883 2,372 (804 ) 14,483 Change in expected credit losses and other credit impairment charges (2,202 ) (3,526 ) (1,118 ) (12 ) (6,858 ) Net operating income 9,049 3,474 7,060 36 19,619 Total operating expenses (7,346 ) (3,290 ) (4,512 ) 206 (14,942 ) Operating profit 1,703 184 2,548 242 4,677 Share of profit in associates and joint ventures (8 ) — — 966 958 Adjusted profit before tax 1,695 184 2,548 1,208 5,635 % % % % % Share of HSBC’s adjusted profit before tax 30.1 3.3 45.2 21.4 100.0 Adjusted cost efficiency ratio 65.3 47.0 55.2 (429.2 ) 56.4 Adjusted balance sheet data $m $m $m $m $m Loans and advances to customers (net) 429,487 344,567 243,355 1,272 1,018,681 Interests in associates and joint ventures 425 13 136 24,226 24,800 Total external assets 814,719 549,530 1,390,006 168,543 2,922,798 Customer accounts 775,870 418,263 337,573 674 1,532,380 HSBC adjusted profit before tax and balance sheet data (continued) Half-year to 30 Jun 2019 2 Wealth and Personal Banking Commercial Global Corporate Centre Total Footnotes $m $m $m $m $m Net operating income/(expense) before change in expected credit losses and other credit impairment charges 1 12,861 7,647 7,590 (283 ) 27,815 – external 10,747 8,087 10,258 (1,277 ) 27,815 – inter-segment 2,114 (440 ) (2,668 ) 994 — of which: net interest income/(expense) 8,525 5,466 2,667 (1,761 ) 14,897 Change in expected credit losses and other credit impairment (charges)/recoveries (527 ) (478 ) (97 ) 14 (1,088 ) Net operating income/(expense) 12,334 7,169 7,493 (269 ) 26,727 Total operating expenses (7,551 ) (3,258 ) (4,758 ) (172 ) (15,739 ) Operating profit/(loss) 4,783 3,911 2,735 (441 ) 10,988 Share of profit in associates and joint ventures 41 — — 1,244 1,285 Adjusted profit before tax 4,824 3,911 2,735 803 12,273 % % % % % Share of HSBC’s adjusted profit before tax 39.3 31.9 22.3 6.5 100.0 Adjusted cost efficiency ratio 58.7 42.6 62.7 (60.8 ) 56.6 Adjusted balance sheet data $m $m $m $m $m Loans and advances to customers (net) 414,611 340,976 246,209 1,184 1,002,980 Interests in associates and joint ventures 451 12 14 23,046 23,523 Total external assets 729,032 506,223 1,319,642 148,668 2,703,565 Customer accounts 714,969 354,806 286,867 505 1,357,147 1 Net operating income before change in expected credit losses and other credit impairment charges, also referred to as revenue. 2 A change in reportable segments was made in 2Q20. Comparative data have been re-presented accordingly. Half-year to 31 Dec 2019 2 Net operating income/(expense) before change in expected credit losses and other credit impairment charges 1 12,492 7,379 7,113 (352 ) 26,632 – external 10,320 7,871 9,886 (1,445 ) 26,632 – inter-segment 2,172 (492 ) (2,773 ) 1,093 — of which: net interest income/(expense) 8,769 5,409 2,533 (1,495 ) 15,216 Change in expected credit losses and other credit impairment charges (829 ) (684 ) (61 ) 20 (1,554 ) Net operating income/(expense) 11,663 6,695 7,052 (332 ) 25,078 Total operating expenses (7,685 ) (3,498 ) (4,656 ) (609 ) (16,448 ) Operating profit/(loss) 3,978 3,197 2,396 (941 ) 8,630 Share of profit in associates and joint ventures 11 — — 1,019 1,030 Adjusted profit before tax 3,989 3,197 2,396 78 9,660 % % % % % Share of HSBC’s adjusted profit before tax 41.3 33.1 24.8 0.8 100.0 Adjusted cost efficiency ratio 61.5 47.4 65.5 (173.0 ) 61.8 Adjusted balance sheet data $m $m $m $m $m Loans and advances to customers (net) 428,834 336,345 240,411 1,071 1,006,661 Interests in associates and joint ventures 445 13 13 23,760 24,231 Total external assets 754,369 496,757 1,233,829 153,539 2,638,494 Customer accounts 735,301 377,691 285,954 710 1,399,656 1 Net operating income before change in expected credit losses and other credit impairment charges, also referred to as revenue. 2 A change in reportable segments was made in 2Q20. Comparative data have been presented accordingly. |
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 2020 30 Jun 2019 31 Dec 2019 Footnotes $m $m $m Reported external net operating income by country/territory 1 26,745 29,372 26,726 – UK 4,166 4,577 4,434 – Hong Kong 8,703 9,461 8,988 – US 2,435 2,293 2,178 – France 697 979 963 – other countries 10,744 12,062 10,163 1 Net operating income before change in expected credit losses and other credit impairment charges, also referred to as revenue. |
Reconciliation of reported and adjusted items | Adjusted results reconciliation Half-year to 30 Jun 2020 30 Jun 2019 31 Dec 2019 Adjusted Significant items Reported Adjusted Currency translation Significant items Reported Adjusted Currency translation Significant items Reported Footnotes $m $m $m $m $m $m $m $m $m $m $m Revenue 1 26,477 268 26,745 27,815 681 876 29,372 26,632 281 (187 ) 26,726 ECL (6,858 ) — (6,858 ) (1,088 ) (52 ) — (1,140 ) (1,554 ) (62 ) — (1,616 ) Operating expenses (14,942 ) (1,585 ) (16,527 ) (15,739 ) (453 ) (957 ) (17,149 ) (16,448 ) (228 ) (8,524 ) (25,200 ) Share of profit in associates and joint ventures 958 — 958 1,285 39 — 1,324 1,030 — — 1,030 Profit before tax 5,635 (1,317 ) 4,318 12,273 215 (81 ) 12,407 9,660 (9 ) (8,711 ) 940 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 2020 31 Dec 2019 Reported and adjusted Adjusted Currency translation Reported $m $m $m $m Loans and advances to customers (net) 1,018,681 1,006,661 30,082 1,036,743 Interests in associates and joint ventures 24,800 24,231 243 24,474 Total external assets 2,922,798 2,638,494 76,658 2,715,152 Customer accounts 1,532,380 1,399,656 39,459 1,439,115 Adjusted profit reconciliation Half-year to 30 Jun 2020 30 Jun 2019 31 Dec 2019 Footnotes $m $m $m Adjusted profit before tax 5,635 12,273 9,660 Significant items (1,317 ) (81 ) (8,711 ) – customer redress programmes (revenue) 26 — (163 ) – disposals, acquisitions and investment in new businesses (revenue) (8 ) 827 (59 ) – fair value movements on financial instruments 1 299 50 34 – restructuring and other related costs (revenue) (49 ) — — – costs of structural reform 2 — (91 ) (67 ) – customer redress programmes (operating expenses) (50 ) (610 ) (671 ) – impairment of goodwill and other intangible assets (1,025 ) — (7,349 ) – restructuring and other related costs (operating expenses) 3 (505 ) (287 ) (540 ) – settlements and provisions in connection with legal and other regulatory matters (5 ) 2 59 – currency translation on significant items 28 45 Currency translation 215 (9 ) Reported profit before tax 4,318 12,407 940 1 Includes fair value movements on non-qualifying hedges and debt valuation adjustments on derivatives. 2 Comprises costs associated with preparations for the UK’s exit from the European Union. 3 Includes impairment of software intangible assets of $ 173 m. |
Fair values of financial inst_3
Fair values of financial instruments carried at fair value (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Fair Value Measurement [Abstract] | |
Disclosure of fair value measurement of assets | Financial instruments carried at fair value and bases of valuation Valuation techniques Quoted market price Level 1 Using observable inputs Level 2 With significant unobservable inputs Level 3 Total $m $m $m $m Recurring fair value measurements At 30 Jun 2020 Assets Trading assets 141,930 63,169 3,865 208,964 Financial assets designated and otherwise mandatorily measured at fair value through profit or loss 16,054 15,327 10,404 41,785 Derivatives 2,126 307,800 3,855 313,781 Financial investments 311,685 89,304 3,339 404,328 Liabilities Trading liabilities 63,204 16,303 105 79,612 Financial liabilities designated at fair value 1,059 150,541 5,008 156,608 Derivatives 2,002 297,332 3,725 303,059 At 31 Dec 2019 Assets Trading assets 186,653 62,639 4,979 254,271 Financial assets designated and otherwise mandatorily measured at fair value through profit or loss 18,626 15,525 9,476 43,627 Derivatives 1,728 239,131 2,136 242,995 Financial investments 261,341 93,018 3,218 357,577 Liabilities Trading liabilities 66,925 16,192 53 83,170 Financial liabilities designated at fair value 9,549 149,901 5,016 164,466 Derivatives 1,331 235,864 2,302 239,497 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 2020 Transfers from Level 1 to Level 2 1,342 2,132 217 — 98 7,414 — Transfers from Level 2 to Level 1 4,353 3,025 154 1 355 — — At 31 Dec 2019 Transfers from Level 1 to Level 2 7,965 3,304 — 24 278 — — Transfers from Level 2 to Level 1 4,184 2,726 673 111 220 — 117 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 689 3 9,756 — 10,448 3 — — 3 Asset-backed securities 1,095 674 98 — 1,867 — — — — Loans held for securitisation — 1 — — 1 — — — — Structured notes — 3 — — 3 36 5,003 — 5,039 Derivatives with monolines — — — 75 75 — — — — Other derivatives — — — 3,771 3,771 — — 3,717 3,717 Other portfolios 1,555 3,184 550 9 5,298 66 5 8 79 At 30 Jun 2020 3,339 3,865 10,404 3,855 21,463 105 5,008 3,725 8,838 Private equity including strategic investments 716 4 8,831 — 9,551 4 — — 4 Asset-backed securities 874 934 28 — 1,836 — — — — Loans held for securitisation — 1 39 — 40 — — — — Structured notes — 3 — — 3 47 5,016 — 5,063 Derivatives with monolines — — — 66 66 — — — — Other derivatives — — — 2,070 2,070 — — 2,302 2,302 Other portfolios 1,628 4,037 578 — 6,243 2 — — 2 At 31 Dec 2019 3,218 4,979 9,476 2,136 19,809 53 5,016 2,302 7,371 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 Footnotes $m $m $m $m $m $m $m At 1 Jan 2020 3,218 4,979 9,476 2,136 53 5,016 2,302 Total gains/(losses) recognised in profit or loss (13 ) (541 ) (106 ) 2,237 — (117 ) 2,105 – net income from financial instruments held for trading or managed on a fair value basis — (541 ) — 2,237 — — 2,105 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — (106 ) — — (117 ) — – gains less losses from financial investments at fair value through other comprehensive income (13 ) — — — — — — Total gains/(losses) recognised in other comprehensive income 1 (29 ) (171 ) (4 ) (147 ) (2 ) (78 ) (162 ) – financial investments: fair value gains/(losses) (19 ) — — — — — — – exchange differences (10 ) (171 ) (4 ) (147 ) (2 ) (78 ) (162 ) Purchases 610 199 1,594 — 63 — — New issuances — — — — 2 1,091 — Sales (271 ) (577 ) (424 ) — (1 ) — — Settlements (401 ) (22 ) (170 ) (262 ) (12 ) (853 ) (307 ) Transfers out (22 ) (797 ) (63 ) (139 ) (5 ) (275 ) (270 ) Transfers in 247 795 101 30 7 224 57 At 30 Jun 2020 3,339 3,865 10,404 3,855 105 5,008 3,725 Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at — (7 ) (140 ) 529 (3 ) 100 1,104 – net income from financial instruments held for trading or managed on a fair value basis — (7 ) — 529 (3 ) — 1,104 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — (140 ) — — 100 — At 1 Jan 2019 2,796 6,759 7,080 2,423 58 5,328 1,756 Total gains/(losses) recognised in profit or loss — (2 ) 196 (9 ) (4 ) 246 591 – net income from financial instruments held for trading or managed on a fair value basis — (2 ) — (9 ) (4 ) — 591 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 196 — — 246 — Total gains/(losses) recognised in other comprehensive income (‘OCI’) 1 236 (18 ) 6 (6 ) (1 ) (6 ) (10 ) – financial investments: fair value gains/(losses) 238 — — — — — — – exchange differences (2 ) (18 ) 6 (6 ) (1 ) (6 ) (10 ) Purchases 336 1,145 1,214 — 5 118 — New issuances — 154 — — — 818 — Sales (7 ) (487 ) (87 ) — (9 ) (180 ) — Settlements (240 ) (1,691 ) (184 ) 94 — (396 ) (136 ) Transfers out (4 ) (409 ) (20 ) (622 ) (9 ) (550 ) (189 ) Transfers in 179 222 40 50 9 18 21 At 30 Jun 2019 3,296 5,673 8,245 1,930 49 5,396 2,033 Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at — 2 67 257 (23 ) (7 ) (320 ) – net income from financial instruments held for trading or managed on a fair value basis — 2 — 257 (23 ) — (320 ) – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 67 — — (7 ) — Movement in Level 3 financial instruments (continued) Assets Liabilities Financial investments Trading assets Designated at fair value through profit or loss Derivatives Trading liabilities Designated at fair value Derivatives Footnotes $m $m $m $m $m $m $m At 1 Jul 2019 3,296 5,673 8,245 1,930 49 5,396 2,033 Total gains/(losses) recognised in profit or loss 6 (110 ) 391 287 — (51 ) 339 – net income from financial instruments held for trading or managed on a fair value basis — (110 ) — 287 — — 339 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 391 — — (51 ) — – gains less losses from financial investments at fair value through other comprehensive income 10 — — — — — — – expected credit loss charges and other credit risk charges (4 ) — — — — — — Total gains/(losses) recognised in other comprehensive income (‘OCI’) 1 73 94 (10 ) 55 2 24 62 – financial investments: fair value gains/(losses) 63 — — — — — — – exchange differences 10 94 (10 ) 55 2 24 62 Purchases 357 1,061 1,292 — 3 39 — New issuances — — — — 6 783 — Sales (49 ) (408 ) (189 ) — — (13 ) — Settlements (89 ) (416 ) (250 ) (194 ) (7 ) (652 ) (26 ) Transfers out (484 ) (1,149 ) (3 ) (88 ) — (529 ) (284 ) Transfers in 108 234 — 146 — 19 178 At 31 Dec 2019 3,218 4,979 9,476 2,136 53 5,016 2,302 Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at 31 Dec 2019 (4 ) (22 ) 465 279 — 57 (407 ) – net income from financial instruments held for trading or managed on a fair value basis — (22 ) — 279 — — (407 ) – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 465 — — 57 — – loan impairment recoveries and other credit risk provisions (4 ) — — — — — — 1 Included in ‘Financial investments: fair value gains/(losses)’ in the current year and ‘Exchange differences’ in the consolidated statement of comprehensive income. Fair values of financial instruments not carried at fair value on the balance sheet At 30 Jun 2020 At 31 Dec 2019 Carrying Fair Carrying amount Fair value $m $m $m $m Assets Loans and advances to banks 77,015 77,122 69,203 69,247 Loans and advances to customers 1,018,681 1,018,036 1,036,743 1,037,543 Reverse repurchase agreements – non-trading 226,345 226,402 240,862 240,906 Financial investments – at amortised cost 89,781 96,434 85,735 89,061 Liabilities Deposits by banks 82,715 82,718 59,022 58,951 Customer accounts 1,532,380 1,533,284 1,439,115 1,439,512 Repurchase agreements – non-trading 112,799 112,803 140,344 140,344 Debt securities in issue 110,114 110,474 104,555 104,936 Subordinated liabilities 23,621 26,599 24,600 29,246 |
Disclosure of fair value measurement of liabilities | Financial instruments carried at fair value and bases of valuation Valuation techniques Quoted market price Level 1 Using observable inputs Level 2 With significant unobservable inputs Level 3 Total $m $m $m $m Recurring fair value measurements At 30 Jun 2020 Assets Trading assets 141,930 63,169 3,865 208,964 Financial assets designated and otherwise mandatorily measured at fair value through profit or loss 16,054 15,327 10,404 41,785 Derivatives 2,126 307,800 3,855 313,781 Financial investments 311,685 89,304 3,339 404,328 Liabilities Trading liabilities 63,204 16,303 105 79,612 Financial liabilities designated at fair value 1,059 150,541 5,008 156,608 Derivatives 2,002 297,332 3,725 303,059 At 31 Dec 2019 Assets Trading assets 186,653 62,639 4,979 254,271 Financial assets designated and otherwise mandatorily measured at fair value through profit or loss 18,626 15,525 9,476 43,627 Derivatives 1,728 239,131 2,136 242,995 Financial investments 261,341 93,018 3,218 357,577 Liabilities Trading liabilities 66,925 16,192 53 83,170 Financial liabilities designated at fair value 9,549 149,901 5,016 164,466 Derivatives 1,331 235,864 2,302 239,497 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 2020 Transfers from Level 1 to Level 2 1,342 2,132 217 — 98 7,414 — Transfers from Level 2 to Level 1 4,353 3,025 154 1 355 — — At 31 Dec 2019 Transfers from Level 1 to Level 2 7,965 3,304 — 24 278 — — Transfers from Level 2 to Level 1 4,184 2,726 673 111 220 — 117 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 689 3 9,756 — 10,448 3 — — 3 Asset-backed securities 1,095 674 98 — 1,867 — — — — Loans held for securitisation — 1 — — 1 — — — — Structured notes — 3 — — 3 36 5,003 — 5,039 Derivatives with monolines — — — 75 75 — — — — Other derivatives — — — 3,771 3,771 — — 3,717 3,717 Other portfolios 1,555 3,184 550 9 5,298 66 5 8 79 At 30 Jun 2020 3,339 3,865 10,404 3,855 21,463 105 5,008 3,725 8,838 Private equity including strategic investments 716 4 8,831 — 9,551 4 — — 4 Asset-backed securities 874 934 28 — 1,836 — — — — Loans held for securitisation — 1 39 — 40 — — — — Structured notes — 3 — — 3 47 5,016 — 5,063 Derivatives with monolines — — — 66 66 — — — — Other derivatives — — — 2,070 2,070 — — 2,302 2,302 Other portfolios 1,628 4,037 578 — 6,243 2 — — 2 At 31 Dec 2019 3,218 4,979 9,476 2,136 19,809 53 5,016 2,302 7,371 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 Footnotes $m $m $m $m $m $m $m At 1 Jan 2020 3,218 4,979 9,476 2,136 53 5,016 2,302 Total gains/(losses) recognised in profit or loss (13 ) (541 ) (106 ) 2,237 — (117 ) 2,105 – net income from financial instruments held for trading or managed on a fair value basis — (541 ) — 2,237 — — 2,105 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — (106 ) — — (117 ) — – gains less losses from financial investments at fair value through other comprehensive income (13 ) — — — — — — Total gains/(losses) recognised in other comprehensive income 1 (29 ) (171 ) (4 ) (147 ) (2 ) (78 ) (162 ) – financial investments: fair value gains/(losses) (19 ) — — — — — — – exchange differences (10 ) (171 ) (4 ) (147 ) (2 ) (78 ) (162 ) Purchases 610 199 1,594 — 63 — — New issuances — — — — 2 1,091 — Sales (271 ) (577 ) (424 ) — (1 ) — — Settlements (401 ) (22 ) (170 ) (262 ) (12 ) (853 ) (307 ) Transfers out (22 ) (797 ) (63 ) (139 ) (5 ) (275 ) (270 ) Transfers in 247 795 101 30 7 224 57 At 30 Jun 2020 3,339 3,865 10,404 3,855 105 5,008 3,725 Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at — (7 ) (140 ) 529 (3 ) 100 1,104 – net income from financial instruments held for trading or managed on a fair value basis — (7 ) — 529 (3 ) — 1,104 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — (140 ) — — 100 — At 1 Jan 2019 2,796 6,759 7,080 2,423 58 5,328 1,756 Total gains/(losses) recognised in profit or loss — (2 ) 196 (9 ) (4 ) 246 591 – net income from financial instruments held for trading or managed on a fair value basis — (2 ) — (9 ) (4 ) — 591 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 196 — — 246 — Total gains/(losses) recognised in other comprehensive income (‘OCI’) 1 236 (18 ) 6 (6 ) (1 ) (6 ) (10 ) – financial investments: fair value gains/(losses) 238 — — — — — — – exchange differences (2 ) (18 ) 6 (6 ) (1 ) (6 ) (10 ) Purchases 336 1,145 1,214 — 5 118 — New issuances — 154 — — — 818 — Sales (7 ) (487 ) (87 ) — (9 ) (180 ) — Settlements (240 ) (1,691 ) (184 ) 94 — (396 ) (136 ) Transfers out (4 ) (409 ) (20 ) (622 ) (9 ) (550 ) (189 ) Transfers in 179 222 40 50 9 18 21 At 30 Jun 2019 3,296 5,673 8,245 1,930 49 5,396 2,033 Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at — 2 67 257 (23 ) (7 ) (320 ) – net income from financial instruments held for trading or managed on a fair value basis — 2 — 257 (23 ) — (320 ) – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 67 — — (7 ) — Movement in Level 3 financial instruments (continued) Assets Liabilities Financial investments Trading assets Designated at fair value through profit or loss Derivatives Trading liabilities Designated at fair value Derivatives Footnotes $m $m $m $m $m $m $m At 1 Jul 2019 3,296 5,673 8,245 1,930 49 5,396 2,033 Total gains/(losses) recognised in profit or loss 6 (110 ) 391 287 — (51 ) 339 – net income from financial instruments held for trading or managed on a fair value basis — (110 ) — 287 — — 339 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 391 — — (51 ) — – gains less losses from financial investments at fair value through other comprehensive income 10 — — — — — — – expected credit loss charges and other credit risk charges (4 ) — — — — — — Total gains/(losses) recognised in other comprehensive income (‘OCI’) 1 73 94 (10 ) 55 2 24 62 – financial investments: fair value gains/(losses) 63 — — — — — — – exchange differences 10 94 (10 ) 55 2 24 62 Purchases 357 1,061 1,292 — 3 39 — New issuances — — — — 6 783 — Sales (49 ) (408 ) (189 ) — — (13 ) — Settlements (89 ) (416 ) (250 ) (194 ) (7 ) (652 ) (26 ) Transfers out (484 ) (1,149 ) (3 ) (88 ) — (529 ) (284 ) Transfers in 108 234 — 146 — 19 178 At 31 Dec 2019 3,218 4,979 9,476 2,136 53 5,016 2,302 Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at 31 Dec 2019 (4 ) (22 ) 465 279 — 57 (407 ) – net income from financial instruments held for trading or managed on a fair value basis — (22 ) — 279 — — (407 ) – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 465 — — 57 — – loan impairment recoveries and other credit risk provisions (4 ) — — — — — — 1 Included in ‘Financial investments: fair value gains/(losses)’ in the current year and ‘Exchange differences’ in the consolidated statement of comprehensive income. Fair values of financial instruments not carried at fair value on the balance sheet At 30 Jun 2020 At 31 Dec 2019 Carrying Fair Carrying amount Fair value $m $m $m $m Assets Loans and advances to banks 77,015 77,122 69,203 69,247 Loans and advances to customers 1,018,681 1,018,036 1,036,743 1,037,543 Reverse repurchase agreements – non-trading 226,345 226,402 240,862 240,906 Financial investments – at amortised cost 89,781 96,434 85,735 89,061 Liabilities Deposits by banks 82,715 82,718 59,022 58,951 Customer accounts 1,532,380 1,533,284 1,439,115 1,439,512 Repurchase agreements – non-trading 112,799 112,803 140,344 140,344 Debt securities in issue 110,114 110,474 104,555 104,936 Subordinated liabilities 23,621 26,599 24,600 29,246 |
Disclosure of fair value adjustments on financial instruments | Global Banking and Markets fair value adjustments At 30 Jun 2020 31 Dec 2019 GBM Corporate Centre GBM Corporate Centre Footnotes $m $m $m $m Type of adjustment Risk-related 1,230 149 1,040 125 – bid-offer 486 92 428 79 – uncertainty 101 1 115 1 – credit valuation adjustment 558 48 355 38 – debt valuation adjustment (184 ) — (126 ) — – funding fair value adjustment 239 8 241 7 – other 30 — 27 — Model-related 99 5 71 3 – model limitation 96 5 68 3 – other 3 — 3 — Inception profit (Day 1 P&L reserves) 1 89 — 72 — 1,418 154 1,183 128 1 See Note 8 on the interim condensed financial statements on page 112 . |
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 other comprehensive income Favourable changes Unfavourable changes Favourable changes Unfavourable changes Footnotes $m $m $m $m Derivatives, trading assets and trading liabilities 1 271 (268 ) — — Financial assets and liabilities designated and otherwise mandatorily measured at fair value 625 (625 ) — — Financial investments 28 (28 ) 101 (104 ) At 30 Jun 2020 924 (921 ) 101 (104 ) Derivatives, trading assets and trading liabilities 1 298 (303 ) — — Financial assets and liabilities designated and otherwise mandatorily measured at fair value 545 (439 ) — — Financial investments 43 (46 ) 74 (74 ) At 30 Jun 2019 886 (788 ) 74 (74 ) Derivatives, trading assets and trading liabilities 1 255 (230 ) — — Financial assets and liabilities designated and otherwise mandatorily measured at fair value through profit or loss 618 (503 ) — — Financial investments 48 (53 ) 81 (81 ) At 31 Dec 2019 921 (786 ) 81 (81 ) 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 other comprehensive income Favourable changes Unfavourable changes Favourable changes Unfavourable changes Footnotes $m $m $m $m Derivatives, trading assets and trading liabilities 1 271 (268 ) — — Financial assets and liabilities designated and otherwise mandatorily measured at fair value 625 (625 ) — — Financial investments 28 (28 ) 101 (104 ) At 30 Jun 2020 924 (921 ) 101 (104 ) Derivatives, trading assets and trading liabilities 1 298 (303 ) — — Financial assets and liabilities designated and otherwise mandatorily measured at fair value 545 (439 ) — — Financial investments 43 (46 ) 74 (74 ) At 30 Jun 2019 886 (788 ) 74 (74 ) Derivatives, trading assets and trading liabilities 1 255 (230 ) — — Financial assets and liabilities designated and otherwise mandatorily measured at fair value through profit or loss 618 (503 ) — — Financial investments 48 (53 ) 81 (81 ) At 31 Dec 2019 921 (786 ) 81 (81 ) 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 2020 . There has been no change to the key unobservable inputs to Level 3 financial instruments and inter-relationships therein, which are detailed on pages 271 and 272 of the Annual Report and Accounts 2019 . Quantitative information about significant unobservable inputs in Level 3 valuations Fair value Valuation technique Key unobservable inputs Assets Liabilities Full range of inputs Footnotes $m $m Lower Higher Private equity including strategic investments 10,448 3 See footnote 1 See footnote 1 Asset-backed securities 1,867 — – CLO/CDO 2 113 — Market proxy Prepayment rate 0% 9% — Market proxy Bid quotes 0 99 – other ABSs 1,754 — Market proxy Bid quotes 0 100 Loans held for securitisation 1 — Structured notes 3 5,039 – equity-linked notes — 3,988 Model – option model Equity volatility 6% 161% Model – option model Equity correlation 22% 92% – FX-linked notes — 579 Model – option model FX volatility 1% 34% – other 3 472 Derivatives with monolines 75 — Model – discounted cash flow Credit spread 1.6% 2.1% Other derivatives 3,771 3,717 – interest rate derivatives securitisation swaps 283 869 Model – discounted cash flow Prepayment rate 6% 7% long-dated swaptions 1,778 735 Model – option model IR volatility 7% 33% other 412 335 – FX derivatives FX options 109 191 Model – option model FX volatility 1% 49% other 142 139 – equity derivatives long-dated single stock options 750 821 Model – option model Equity volatility 0% 131% other 192 551 – credit derivatives other 105 76 Other portfolios 5,298 79 – structured certificates 1,488 — Model – discounted cash flow Credit volatility 11% 11% – repurchase agreements 778 63 – other 3 3,032 16 At 30 Jun 2020 21,463 8,838 Quantitative information about significant unobservable inputs in Level 3 valuations (continued) Fair value Valuation technique Assets Liabilities Key unobservable inputs Full range of inputs Footnotes $m $m Lower Higher Private equity including strategic investments 9,551 4 See footnote 1 See footnote 1 n/a n/a Asset-backed securities 1,836 — – CLO/CDO 2 373 — Market proxy Prepayment rate 0% 9% Market proxy Bid quotes 0 100 – other ABSs 1,463 — Market proxy Bid quotes 0 101 Loans held for securitisation 40 — Structured notes 3 5,063 – equity-linked notes — 3,768 Model – option model Equity volatility 5% 90% Model – option model Equity correlation 9% 93% – FX-linked notes — 1,046 Model – option model FX volatility 1% 23% – other 3 249 Derivatives with monolines 66 — Model – discounted cash flow Credit spread 0.4% 2% Other derivatives 2,070 2,302 – interest rate derivatives securitisation swaps 314 640 Model – discounted cash flow Prepayment rate 6% 7% long-dated swaptions 838 51 Model – option model IR volatility 8% 22% other 255 155 – FX derivatives FX options 93 218 Model – option model FX volatility 1% 25% other 119 104 – equity derivatives long-dated single stock options 230 293 Model – option model Equity volatility 0% 89% other 78 712 – Credit derivatives Other 143 129 Other portfolios 6,243 2 – structured certificates 1,515 — Model – discounted cash flow Credit volatility 4% 4% – repurchase agreements 1,604 — – other 3 3,124 2 At 31 Dec 2019 19,809 7,371 1 See notes on page 271 of the Annual Report and Accounts 2019 . 2 Collateralised loan obligation/collateralised debt obligation. 3 ’Other’ includes a range of smaller asset holdings. |
Disclosure of significant unobservable inputs used in fair value measurement of liabilities | The following table lists key unobservable inputs to Level 3 financial instruments and provides the range of those inputs at 30 June 2020 . There has been no change to the key unobservable inputs to Level 3 financial instruments and inter-relationships therein, which are detailed on pages 271 and 272 of the Annual Report and Accounts 2019 . Quantitative information about significant unobservable inputs in Level 3 valuations Fair value Valuation technique Key unobservable inputs Assets Liabilities Full range of inputs Footnotes $m $m Lower Higher Private equity including strategic investments 10,448 3 See footnote 1 See footnote 1 Asset-backed securities 1,867 — – CLO/CDO 2 113 — Market proxy Prepayment rate 0% 9% — Market proxy Bid quotes 0 99 – other ABSs 1,754 — Market proxy Bid quotes 0 100 Loans held for securitisation 1 — Structured notes 3 5,039 – equity-linked notes — 3,988 Model – option model Equity volatility 6% 161% Model – option model Equity correlation 22% 92% – FX-linked notes — 579 Model – option model FX volatility 1% 34% – other 3 472 Derivatives with monolines 75 — Model – discounted cash flow Credit spread 1.6% 2.1% Other derivatives 3,771 3,717 – interest rate derivatives securitisation swaps 283 869 Model – discounted cash flow Prepayment rate 6% 7% long-dated swaptions 1,778 735 Model – option model IR volatility 7% 33% other 412 335 – FX derivatives FX options 109 191 Model – option model FX volatility 1% 49% other 142 139 – equity derivatives long-dated single stock options 750 821 Model – option model Equity volatility 0% 131% other 192 551 – credit derivatives other 105 76 Other portfolios 5,298 79 – structured certificates 1,488 — Model – discounted cash flow Credit volatility 11% 11% – repurchase agreements 778 63 – other 3 3,032 16 At 30 Jun 2020 21,463 8,838 Quantitative information about significant unobservable inputs in Level 3 valuations (continued) Fair value Valuation technique Assets Liabilities Key unobservable inputs Full range of inputs Footnotes $m $m Lower Higher Private equity including strategic investments 9,551 4 See footnote 1 See footnote 1 n/a n/a Asset-backed securities 1,836 — – CLO/CDO 2 373 — Market proxy Prepayment rate 0% 9% Market proxy Bid quotes 0 100 – other ABSs 1,463 — Market proxy Bid quotes 0 101 Loans held for securitisation 40 — Structured notes 3 5,063 – equity-linked notes — 3,768 Model – option model Equity volatility 5% 90% Model – option model Equity correlation 9% 93% – FX-linked notes — 1,046 Model – option model FX volatility 1% 23% – other 3 249 Derivatives with monolines 66 — Model – discounted cash flow Credit spread 0.4% 2% Other derivatives 2,070 2,302 – interest rate derivatives securitisation swaps 314 640 Model – discounted cash flow Prepayment rate 6% 7% long-dated swaptions 838 51 Model – option model IR volatility 8% 22% other 255 155 – FX derivatives FX options 93 218 Model – option model FX volatility 1% 25% other 119 104 – equity derivatives long-dated single stock options 230 293 Model – option model Equity volatility 0% 89% other 78 712 – Credit derivatives Other 143 129 Other portfolios 6,243 2 – structured certificates 1,515 — Model – discounted cash flow Credit volatility 4% 4% – repurchase agreements 1,604 — – other 3 3,124 2 At 31 Dec 2019 19,809 7,371 1 See notes on page 271 of the Annual Report and Accounts 2019 . 2 Collateralised loan obligation/collateralised debt obligation. 3 ’Other’ includes a range of smaller asset holdings. |
Fair values of financial inst_4
Fair values of financial instruments not carried at fair value (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
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 market price Level 1 Using observable inputs Level 2 With significant unobservable inputs Level 3 Total $m $m $m $m Recurring fair value measurements At 30 Jun 2020 Assets Trading assets 141,930 63,169 3,865 208,964 Financial assets designated and otherwise mandatorily measured at fair value through profit or loss 16,054 15,327 10,404 41,785 Derivatives 2,126 307,800 3,855 313,781 Financial investments 311,685 89,304 3,339 404,328 Liabilities Trading liabilities 63,204 16,303 105 79,612 Financial liabilities designated at fair value 1,059 150,541 5,008 156,608 Derivatives 2,002 297,332 3,725 303,059 At 31 Dec 2019 Assets Trading assets 186,653 62,639 4,979 254,271 Financial assets designated and otherwise mandatorily measured at fair value through profit or loss 18,626 15,525 9,476 43,627 Derivatives 1,728 239,131 2,136 242,995 Financial investments 261,341 93,018 3,218 357,577 Liabilities Trading liabilities 66,925 16,192 53 83,170 Financial liabilities designated at fair value 9,549 149,901 5,016 164,466 Derivatives 1,331 235,864 2,302 239,497 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 2020 Transfers from Level 1 to Level 2 1,342 2,132 217 — 98 7,414 — Transfers from Level 2 to Level 1 4,353 3,025 154 1 355 — — At 31 Dec 2019 Transfers from Level 1 to Level 2 7,965 3,304 — 24 278 — — Transfers from Level 2 to Level 1 4,184 2,726 673 111 220 — 117 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 689 3 9,756 — 10,448 3 — — 3 Asset-backed securities 1,095 674 98 — 1,867 — — — — Loans held for securitisation — 1 — — 1 — — — — Structured notes — 3 — — 3 36 5,003 — 5,039 Derivatives with monolines — — — 75 75 — — — — Other derivatives — — — 3,771 3,771 — — 3,717 3,717 Other portfolios 1,555 3,184 550 9 5,298 66 5 8 79 At 30 Jun 2020 3,339 3,865 10,404 3,855 21,463 105 5,008 3,725 8,838 Private equity including strategic investments 716 4 8,831 — 9,551 4 — — 4 Asset-backed securities 874 934 28 — 1,836 — — — — Loans held for securitisation — 1 39 — 40 — — — — Structured notes — 3 — — 3 47 5,016 — 5,063 Derivatives with monolines — — — 66 66 — — — — Other derivatives — — — 2,070 2,070 — — 2,302 2,302 Other portfolios 1,628 4,037 578 — 6,243 2 — — 2 At 31 Dec 2019 3,218 4,979 9,476 2,136 19,809 53 5,016 2,302 7,371 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 Footnotes $m $m $m $m $m $m $m At 1 Jan 2020 3,218 4,979 9,476 2,136 53 5,016 2,302 Total gains/(losses) recognised in profit or loss (13 ) (541 ) (106 ) 2,237 — (117 ) 2,105 – net income from financial instruments held for trading or managed on a fair value basis — (541 ) — 2,237 — — 2,105 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — (106 ) — — (117 ) — – gains less losses from financial investments at fair value through other comprehensive income (13 ) — — — — — — Total gains/(losses) recognised in other comprehensive income 1 (29 ) (171 ) (4 ) (147 ) (2 ) (78 ) (162 ) – financial investments: fair value gains/(losses) (19 ) — — — — — — – exchange differences (10 ) (171 ) (4 ) (147 ) (2 ) (78 ) (162 ) Purchases 610 199 1,594 — 63 — — New issuances — — — — 2 1,091 — Sales (271 ) (577 ) (424 ) — (1 ) — — Settlements (401 ) (22 ) (170 ) (262 ) (12 ) (853 ) (307 ) Transfers out (22 ) (797 ) (63 ) (139 ) (5 ) (275 ) (270 ) Transfers in 247 795 101 30 7 224 57 At 30 Jun 2020 3,339 3,865 10,404 3,855 105 5,008 3,725 Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at — (7 ) (140 ) 529 (3 ) 100 1,104 – net income from financial instruments held for trading or managed on a fair value basis — (7 ) — 529 (3 ) — 1,104 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — (140 ) — — 100 — At 1 Jan 2019 2,796 6,759 7,080 2,423 58 5,328 1,756 Total gains/(losses) recognised in profit or loss — (2 ) 196 (9 ) (4 ) 246 591 – net income from financial instruments held for trading or managed on a fair value basis — (2 ) — (9 ) (4 ) — 591 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 196 — — 246 — Total gains/(losses) recognised in other comprehensive income (‘OCI’) 1 236 (18 ) 6 (6 ) (1 ) (6 ) (10 ) – financial investments: fair value gains/(losses) 238 — — — — — — – exchange differences (2 ) (18 ) 6 (6 ) (1 ) (6 ) (10 ) Purchases 336 1,145 1,214 — 5 118 — New issuances — 154 — — — 818 — Sales (7 ) (487 ) (87 ) — (9 ) (180 ) — Settlements (240 ) (1,691 ) (184 ) 94 — (396 ) (136 ) Transfers out (4 ) (409 ) (20 ) (622 ) (9 ) (550 ) (189 ) Transfers in 179 222 40 50 9 18 21 At 30 Jun 2019 3,296 5,673 8,245 1,930 49 5,396 2,033 Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at — 2 67 257 (23 ) (7 ) (320 ) – net income from financial instruments held for trading or managed on a fair value basis — 2 — 257 (23 ) — (320 ) – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 67 — — (7 ) — Movement in Level 3 financial instruments (continued) Assets Liabilities Financial investments Trading assets Designated at fair value through profit or loss Derivatives Trading liabilities Designated at fair value Derivatives Footnotes $m $m $m $m $m $m $m At 1 Jul 2019 3,296 5,673 8,245 1,930 49 5,396 2,033 Total gains/(losses) recognised in profit or loss 6 (110 ) 391 287 — (51 ) 339 – net income from financial instruments held for trading or managed on a fair value basis — (110 ) — 287 — — 339 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 391 — — (51 ) — – gains less losses from financial investments at fair value through other comprehensive income 10 — — — — — — – expected credit loss charges and other credit risk charges (4 ) — — — — — — Total gains/(losses) recognised in other comprehensive income (‘OCI’) 1 73 94 (10 ) 55 2 24 62 – financial investments: fair value gains/(losses) 63 — — — — — — – exchange differences 10 94 (10 ) 55 2 24 62 Purchases 357 1,061 1,292 — 3 39 — New issuances — — — — 6 783 — Sales (49 ) (408 ) (189 ) — — (13 ) — Settlements (89 ) (416 ) (250 ) (194 ) (7 ) (652 ) (26 ) Transfers out (484 ) (1,149 ) (3 ) (88 ) — (529 ) (284 ) Transfers in 108 234 — 146 — 19 178 At 31 Dec 2019 3,218 4,979 9,476 2,136 53 5,016 2,302 Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at 31 Dec 2019 (4 ) (22 ) 465 279 — 57 (407 ) – net income from financial instruments held for trading or managed on a fair value basis — (22 ) — 279 — — (407 ) – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 465 — — 57 — – loan impairment recoveries and other credit risk provisions (4 ) — — — — — — 1 Included in ‘Financial investments: fair value gains/(losses)’ in the current year and ‘Exchange differences’ in the consolidated statement of comprehensive income. Fair values of financial instruments not carried at fair value on the balance sheet At 30 Jun 2020 At 31 Dec 2019 Carrying Fair Carrying amount Fair value $m $m $m $m Assets Loans and advances to banks 77,015 77,122 69,203 69,247 Loans and advances to customers 1,018,681 1,018,036 1,036,743 1,037,543 Reverse repurchase agreements – non-trading 226,345 226,402 240,862 240,906 Financial investments – at amortised cost 89,781 96,434 85,735 89,061 Liabilities Deposits by banks 82,715 82,718 59,022 58,951 Customer accounts 1,532,380 1,533,284 1,439,115 1,439,512 Repurchase agreements – non-trading 112,799 112,803 140,344 140,344 Debt securities in issue 110,114 110,474 104,555 104,936 Subordinated liabilities 23,621 26,599 24,600 29,246 |
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 market price Level 1 Using observable inputs Level 2 With significant unobservable inputs Level 3 Total $m $m $m $m Recurring fair value measurements At 30 Jun 2020 Assets Trading assets 141,930 63,169 3,865 208,964 Financial assets designated and otherwise mandatorily measured at fair value through profit or loss 16,054 15,327 10,404 41,785 Derivatives 2,126 307,800 3,855 313,781 Financial investments 311,685 89,304 3,339 404,328 Liabilities Trading liabilities 63,204 16,303 105 79,612 Financial liabilities designated at fair value 1,059 150,541 5,008 156,608 Derivatives 2,002 297,332 3,725 303,059 At 31 Dec 2019 Assets Trading assets 186,653 62,639 4,979 254,271 Financial assets designated and otherwise mandatorily measured at fair value through profit or loss 18,626 15,525 9,476 43,627 Derivatives 1,728 239,131 2,136 242,995 Financial investments 261,341 93,018 3,218 357,577 Liabilities Trading liabilities 66,925 16,192 53 83,170 Financial liabilities designated at fair value 9,549 149,901 5,016 164,466 Derivatives 1,331 235,864 2,302 239,497 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 2020 Transfers from Level 1 to Level 2 1,342 2,132 217 — 98 7,414 — Transfers from Level 2 to Level 1 4,353 3,025 154 1 355 — — At 31 Dec 2019 Transfers from Level 1 to Level 2 7,965 3,304 — 24 278 — — Transfers from Level 2 to Level 1 4,184 2,726 673 111 220 — 117 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 689 3 9,756 — 10,448 3 — — 3 Asset-backed securities 1,095 674 98 — 1,867 — — — — Loans held for securitisation — 1 — — 1 — — — — Structured notes — 3 — — 3 36 5,003 — 5,039 Derivatives with monolines — — — 75 75 — — — — Other derivatives — — — 3,771 3,771 — — 3,717 3,717 Other portfolios 1,555 3,184 550 9 5,298 66 5 8 79 At 30 Jun 2020 3,339 3,865 10,404 3,855 21,463 105 5,008 3,725 8,838 Private equity including strategic investments 716 4 8,831 — 9,551 4 — — 4 Asset-backed securities 874 934 28 — 1,836 — — — — Loans held for securitisation — 1 39 — 40 — — — — Structured notes — 3 — — 3 47 5,016 — 5,063 Derivatives with monolines — — — 66 66 — — — — Other derivatives — — — 2,070 2,070 — — 2,302 2,302 Other portfolios 1,628 4,037 578 — 6,243 2 — — 2 At 31 Dec 2019 3,218 4,979 9,476 2,136 19,809 53 5,016 2,302 7,371 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 Footnotes $m $m $m $m $m $m $m At 1 Jan 2020 3,218 4,979 9,476 2,136 53 5,016 2,302 Total gains/(losses) recognised in profit or loss (13 ) (541 ) (106 ) 2,237 — (117 ) 2,105 – net income from financial instruments held for trading or managed on a fair value basis — (541 ) — 2,237 — — 2,105 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — (106 ) — — (117 ) — – gains less losses from financial investments at fair value through other comprehensive income (13 ) — — — — — — Total gains/(losses) recognised in other comprehensive income 1 (29 ) (171 ) (4 ) (147 ) (2 ) (78 ) (162 ) – financial investments: fair value gains/(losses) (19 ) — — — — — — – exchange differences (10 ) (171 ) (4 ) (147 ) (2 ) (78 ) (162 ) Purchases 610 199 1,594 — 63 — — New issuances — — — — 2 1,091 — Sales (271 ) (577 ) (424 ) — (1 ) — — Settlements (401 ) (22 ) (170 ) (262 ) (12 ) (853 ) (307 ) Transfers out (22 ) (797 ) (63 ) (139 ) (5 ) (275 ) (270 ) Transfers in 247 795 101 30 7 224 57 At 30 Jun 2020 3,339 3,865 10,404 3,855 105 5,008 3,725 Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at — (7 ) (140 ) 529 (3 ) 100 1,104 – net income from financial instruments held for trading or managed on a fair value basis — (7 ) — 529 (3 ) — 1,104 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — (140 ) — — 100 — At 1 Jan 2019 2,796 6,759 7,080 2,423 58 5,328 1,756 Total gains/(losses) recognised in profit or loss — (2 ) 196 (9 ) (4 ) 246 591 – net income from financial instruments held for trading or managed on a fair value basis — (2 ) — (9 ) (4 ) — 591 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 196 — — 246 — Total gains/(losses) recognised in other comprehensive income (‘OCI’) 1 236 (18 ) 6 (6 ) (1 ) (6 ) (10 ) – financial investments: fair value gains/(losses) 238 — — — — — — – exchange differences (2 ) (18 ) 6 (6 ) (1 ) (6 ) (10 ) Purchases 336 1,145 1,214 — 5 118 — New issuances — 154 — — — 818 — Sales (7 ) (487 ) (87 ) — (9 ) (180 ) — Settlements (240 ) (1,691 ) (184 ) 94 — (396 ) (136 ) Transfers out (4 ) (409 ) (20 ) (622 ) (9 ) (550 ) (189 ) Transfers in 179 222 40 50 9 18 21 At 30 Jun 2019 3,296 5,673 8,245 1,930 49 5,396 2,033 Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at — 2 67 257 (23 ) (7 ) (320 ) – net income from financial instruments held for trading or managed on a fair value basis — 2 — 257 (23 ) — (320 ) – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 67 — — (7 ) — Movement in Level 3 financial instruments (continued) Assets Liabilities Financial investments Trading assets Designated at fair value through profit or loss Derivatives Trading liabilities Designated at fair value Derivatives Footnotes $m $m $m $m $m $m $m At 1 Jul 2019 3,296 5,673 8,245 1,930 49 5,396 2,033 Total gains/(losses) recognised in profit or loss 6 (110 ) 391 287 — (51 ) 339 – net income from financial instruments held for trading or managed on a fair value basis — (110 ) — 287 — — 339 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 391 — — (51 ) — – gains less losses from financial investments at fair value through other comprehensive income 10 — — — — — — – expected credit loss charges and other credit risk charges (4 ) — — — — — — Total gains/(losses) recognised in other comprehensive income (‘OCI’) 1 73 94 (10 ) 55 2 24 62 – financial investments: fair value gains/(losses) 63 — — — — — — – exchange differences 10 94 (10 ) 55 2 24 62 Purchases 357 1,061 1,292 — 3 39 — New issuances — — — — 6 783 — Sales (49 ) (408 ) (189 ) — — (13 ) — Settlements (89 ) (416 ) (250 ) (194 ) (7 ) (652 ) (26 ) Transfers out (484 ) (1,149 ) (3 ) (88 ) — (529 ) (284 ) Transfers in 108 234 — 146 — 19 178 At 31 Dec 2019 3,218 4,979 9,476 2,136 53 5,016 2,302 Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at 31 Dec 2019 (4 ) (22 ) 465 279 — 57 (407 ) – net income from financial instruments held for trading or managed on a fair value basis — (22 ) — 279 — — (407 ) – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 465 — — 57 — – loan impairment recoveries and other credit risk provisions (4 ) — — — — — — 1 Included in ‘Financial investments: fair value gains/(losses)’ in the current year and ‘Exchange differences’ in the consolidated statement of comprehensive income. Fair values of financial instruments not carried at fair value on the balance sheet At 30 Jun 2020 At 31 Dec 2019 Carrying Fair Carrying amount Fair value $m $m $m $m Assets Loans and advances to banks 77,015 77,122 69,203 69,247 Loans and advances to customers 1,018,681 1,018,036 1,036,743 1,037,543 Reverse repurchase agreements – non-trading 226,345 226,402 240,862 240,906 Financial investments – at amortised cost 89,781 96,434 85,735 89,061 Liabilities Deposits by banks 82,715 82,718 59,022 58,951 Customer accounts 1,532,380 1,533,284 1,439,115 1,439,512 Repurchase agreements – non-trading 112,799 112,803 140,344 140,344 Debt securities in issue 110,114 110,474 104,555 104,936 Subordinated liabilities 23,621 26,599 24,600 29,246 |
Derivatives (Tables)
Derivatives (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
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 7,383,599 36,888 83,704 366 84,070 84,600 729 85,329 Interest rate 17,590,866 165,107 291,177 2,522 293,699 274,938 3,550 278,488 Equities 648,250 — 10,697 — 10,697 11,836 — 11,836 Credit 329,551 — 3,661 — 3,661 5,000 — 5,000 Commodity and other 134,410 — 2,764 — 2,764 3,516 — 3,516 Gross total fair values 26,086,676 201,995 392,003 2,888 394,891 379,890 4,279 384,169 Offset (81,110 ) (81,110 ) At 30 Jun 2020 26,086,676 201,995 392,003 2,888 313,781 379,890 4,279 303,059 Foreign exchange 8,207,629 31,899 84,083 455 84,538 84,498 740 85,238 Interest rate 17,895,349 177,006 183,668 1,208 184,876 175,095 2,031 177,126 Equities 1,077,347 — 9,053 — 9,053 11,237 — 11,237 Credit 345,644 — 4,744 — 4,744 5,597 — 5,597 Commodity and other 93,245 — 1,523 — 1,523 2,038 — 2,038 Gross total fair values 27,619,214 208,905 283,071 1,663 284,734 278,465 2,771 281,236 Offset (41,739 ) (41,739 ) At 31 Dec 2019 27,619,214 208,905 283,071 1,663 242,995 278,465 2,771 239,497 Notional contract amounts of derivatives held for hedging purposes by product type At 30 Jun 2020 At 31 Dec 2019 Cash flow hedges Fair value hedges Cash flow hedges Fair value hedges $m $m $m $m Foreign exchange 26,374 14 21,385 14 Interest rate 39,590 125,517 54,253 122,753 Total 65,964 125,531 75,638 122,767 |
Disclosure of detailed information about financial instruments | 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 2020 2019 2019 Footnotes $m $m $m Unamortised balance at beginning of period 73 86 99 Deferral on new transactions 106 90 55 Recognised in the income statement during the period (87 ) (78 ) (76 ) – amortisation (51 ) (36 ) (44 ) – subsequent to unobservable inputs becoming observable (1 ) (6 ) 3 – maturity, termination or offsetting derivative (35 ) (36 ) (35 ) Exchange differences (3 ) — 1 Other — 1 (6 ) Unamortised balance at end of period 1 89 99 73 1 This amount is yet to be recognised in the consolidated income statement. |
Financial investments (Tables)
Financial investments (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Financial Instruments [Abstract] | |
Schedules of financial investments | Carrying amounts of financial investments 30 Jun 31 Dec 2020 2019 Footnotes $m $m Financial investments measured at fair value through other comprehensive income 404,328 357,577 – treasury and other eligible bills 130,389 95,043 – debt securities 271,859 260,536 – equity securities 1,997 1,913 – other instruments 1 83 85 Debt instruments measured at amortised cost 89,781 85,735 – treasury and other eligible bills 12,192 10,476 – debt securities 77,589 75,259 At the end of the period 494,109 443,312 1 ‘Other instruments’ are comprised of loans and advances. |
Interests in associates and j_2
Interests in associates and joint ventures (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Interests In Other Entities [Abstract] | |
Disclosure of interests in associates | At 30 Jun 2020 31 Dec 2019 VIU Carrying value Fair value VIU Carrying value Fair value $bn $bn $bn $bn $bn $bn BoCom 20.5 19.6 8.7 21.5 19.0 10.1 Principal associates of HSBC At 30 Jun 2020 31 Dec 2019 Carrying amount Fair value 1 Carrying amount Fair value 1 $m $m $m $m Bank of Communications Co., Limited 19,630 8,718 18,982 10,054 The Saudi British Bank 4,139 3,644 4,370 5,550 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). |
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 36 basis points • Long-term asset growth rate Increase by 32 basis points • Discount rate Increase by 41 basis points • Expected credit losses as a percentage of customer advances Increase by 6 basis points • Risk-weighted assets as a percentage of total assets Increase by 234 basis points • Operating income Decrease by 62 basis points • Cost-income ratio Increase by 139 basis points • Long-term effective tax rate Increase by 320 basis points • Capital requirements – capital adequacy ratio Increase by 44 basis points • Capital requirements – tier 1 capital adequacy ratio Increase by 137 basis points The following table further illustrates the impact on VIU of reasonably possible changes to key assumptions. This reflects the sensitivity of the VIU to each key assumption on its own and it is possible that more than one favourable and/or unfavourable change may occur at the same time. The selected rates of reasonably possible changes to key assumptions are largely based on external analysts’ forecasts, which can change period to period. Sensitivity of VIU to reasonably possible changes in key assumptions Favourable change Unfavourable change Increase VIU Decrease VIU bps $bn $bn bps $bn $bn At 30 Jun 2020 Long-term profit growth rate — — 20.5 (50 ) (1.2 ) 19.3 Long-term asset growth rate (50 ) 1.3 21.8 — — 20.5 Discount rate (24 ) 0.6 21.1 86 (1.8 ) 18.7 Expected credit losses as a percentage of customer advances 2020 to 2023: 93 0.5 21.0 2020 to 2023: 108 (2.2 ) 18.3 Risk-weighted assets as a percentage of total assets (190 ) 0.5 21.0 93 (0.5 ) 20.0 Operating income 64 1.0 21.5 (69 ) (0.9 ) 19.6 Cost-income ratio (205 ) 1.5 22.0 179 (1.3 ) 19.2 Long-term effective tax rate (433 ) 1.2 21.7 250 (0.7 ) 19.8 Capital requirements – capital adequacy ratio — — 20.5 266 (6.0 ) 14.5 Capital requirements – tier 1 capital adequacy ratio — — 20.5 289 (4.5 ) 16.0 At 31 Dec 2019 Long-term profit growth rate — — 21.5 (50 ) (1.3 ) 20.2 Long-term asset growth rate (50 ) 1.4 22.9 — — 21.5 Discount rate (54 ) 1.4 22.9 56 (1.2 ) 20.3 Expected credit losses as a percentage of customer advances 2019 to 2023: 90 1.0 22.5 2019 to 2023: 108 (1.2 ) 20.3 Risk-weighted assets as a percentage of total assets (96 ) 0.4 21.9 12 — 21.5 Operating income 14 0.3 21.8 (102 ) (1.8 ) 19.7 Cost-income ratio (175 ) 1.0 22.5 95 (1.2 ) 20.3 Long-term effective tax rate (352 ) 1.0 22.5 250 (0.7 ) 20.8 Capital requirements – capital adequacy ratio — — 21.5 337 (8.2 ) 13.3 Capital requirements – tier 1 capital adequacy ratio — — 21.5 322 (6.0 ) 15.5 The most sensitive inputs to the impairment test are set out in the following table. Input Reasonably possible change • Cash flow projections Cash flow projections decrease by 5%. This could result in an impairment of $0.1bn. • Discount rate Discount rate increases by 50bps. This could result in an impairment of $0.1bn. |
Goodwill and intangibles asse_2
Goodwill and intangibles assets Goodwill and intangibles (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Intangible Assets [Abstract] | |
Disclosure of components of intangible assets and goodwill | 30 Jun 31 Dec 2020 2019 Footnotes $m $m Goodwill 5,482 5,590 Present value of in-force long-term insurance business 9,379 8,945 Other intangible assets 1 4,577 5,628 At the end of the period 19,438 20,163 1 Included within other intangible assets is capitalised software with a net carrying amount of $3,861m (31 December 2019: $4,829m ). |
Provisions (Tables)
Provisions (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Other Provisions, Contingent Liabilities And Contingent Assets [Abstract] | |
Disclosure of other provisions rollforward | Restructuring Legal proceedings Customer Other Total Footnotes $m $m $m $m $m Provisions (excluding contractual commitments) At 31 Dec 2019 356 605 1,646 280 2,887 Additions 103 20 75 109 307 Amounts utilised (128 ) (70 ) (436 ) (91 ) (725 ) Unused amounts reversed (38 ) (29 ) (38 ) (44 ) (149 ) Exchange and other movements (58 ) (8 ) (99 ) 25 (140 ) At 30 Jun 2020 235 518 1,148 279 2,180 Contractual commitments 1 At 31 Dec 2019 511 Net change in expected credit loss provision and other movements 518 At 30 Jun 2020 1,029 Total provisions At 31 Dec 2019 3,398 At 30 Jun 2020 3,209 1 The contractual commitments provision includes off-balance sheet loan commitments and guarantees, for which expected credit losses are provided under IFRS 9. |
Contingent liabilities, contr_2
Contingent liabilities, contractual commitments, and guarantees (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Other Provisions, Contingent Liabilities And Contingent Assets [Abstract] | |
Summary of contingent liabilities, contractual commitments and guarantees | At 30 Jun 31 Dec 2020 2019 Footnotes $m $m Guarantees and contingent liabilities: – financial guarantees 18,328 20,214 – performance and other guarantees 73,078 75,933 – other contingent liabilities 1,094 1,576 At the end of the period 92,500 97,723 Commitments: 1 – documentary credits and short-term trade-related transactions 6,201 6,316 – forward asset purchases and forward deposits placed 91,849 56,326 – standby facilities, credit lines and other commitments to lend 740,023 734,966 At the end of the period 838,073 797,608 1 Includes $ 648,156m of commitments at 30 June 2020 (31 December 2019: $ 600,029m ), 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, 2020 | |
Report Of The Directors Financial Review Risk Report [Abstract] | |
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 Non-credit impaired Credit impaired Stage 1 Stage 2 Stage 3 POCI Total Gross carrying/ nominal amount Allowance for ECL Gross carrying/ nominal amount Allowance for ECL Gross carrying/ nominal amount Allowance for ECL Gross carrying/ nominal amount Allowance for ECL Gross carrying/ nominal amount Allowance for ECL $m $m $m $m $m $m $m $m $m $m At 1 Jan 2019 1,502,976 (1,449 ) 95,104 (2,278 ) 14,232 (5,135 ) 334 (194 ) 1,612,646 (9,056 ) Transfers of financial instruments: (36,244 ) (543 ) 31,063 1,134 5,181 (591 ) — — — — – transfers from stage 1 to stage 2 (108,434 ) 487 108,434 (487 ) — — — — — — – transfers from stage 2 to stage 1 73,086 (1,044 ) (73,086 ) 1,044 — — — — — — – transfers to stage 3 (1,284 ) 59 (5,022 ) 665 6,306 (724 ) — — — — – transfers from stage 3 388 (45 ) 737 (88 ) (1,125 ) 133 — — — — Net remeasurement of ECL arising from transfer of stage — 669 — (676 ) — (114 ) — — — (121 ) New financial assets originated or purchased 504,064 (534 ) — — — — 135 (21 ) 504,199 (555 ) Assets derecognised (including final repayments) (352,961 ) 112 (19,909 ) 553 (2,712 ) 656 (26 ) 8 (375,608 ) 1,329 Changes to risk parameters – further lending/repayment (72,239 ) 291 (2,560 ) 67 402 (6 ) 28 12 (74,369 ) 364 Changes in risk parameters – credit quality — 2 — (1,208 ) — (2,704 ) — (51 ) — (3,961 ) Changes to models used for ECL calculation — (6 ) — 4 — 14 — — — 12 Assets written off — — — — (2,657 ) 2,657 (140 ) 140 (2,797 ) 2,797 Credit-related modifications that resulted in derecognition — — — — (268 ) 125 — — (268 ) 125 Foreign exchange 16,838 (9 ) 1,201 (40 ) 160 (31 ) 1 1 18,200 (79 ) Other (821 ) 3 652 3 (3 ) 8 13 6 (159 ) 20 At 31 Dec 2019 1,561,613 (1,464 ) 105,551 (2,441 ) 14,335 (5,121 ) 345 (99 ) 1,681,844 (9,125 ) ECL income statement change for the period 534 (1,260 ) (2,154 ) (52 ) (2,932 ) Recoveries 361 Others (20 ) Total ECL income statement change for the period 1 (2,591 ) At 31 Dec 2019 12 months ended Gross carrying/nominal amount Allowance for ECL ECL charge $m $m $m As above 1,681,844 (9,125 ) (2,591 ) Other financial assets measured at amortised cost 615,179 (118 ) (26 ) Non-trading reverse purchase agreement commitments 53,093 — — Performance and other guarantees — — (34 ) Summary of financial instruments to which the impairment requirements in IFRS 9 are applied/Summary consolidated income statement 2,350,116 (9,243 ) (2,651 ) Debt instruments measured at FVOCI 355,664 (166 ) (105 ) Total allowance for ECL/total income statement ECL charge for the period n/a (9,409 ) (2,756 ) 1 The 31 December 2019 total ECL income statement change of $2,591m is attributable to $1,136m for the six months ended 30 June 2019 and $1,455m to the six months ended 31 December 2019. Reconciliation of changes in gross carrying/nominal amount and allowances for loans and advances to banks and customers including 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 2020 1,561,613 (1,464 ) 105,551 (2,441 ) 14,335 (5,121 ) 345 (99 ) 1,681,844 (9,125 ) Transfers of financial instruments: (138,661 ) (148 ) 131,316 498 7,345 (350 ) — — — — – transfers from stage 1 to stage 2 (175,849 ) 489 175,849 (489 ) — — — — — — – transfers from stage 2 to stage 1 39,559 (638 ) (39,559 ) 638 — — — — — — – transfers to stage 3 (2,724 ) 11 (5,434 ) 392 8,158 (403 ) — — — — – transfers from stage 3 353 (10 ) 460 (43 ) (813 ) 53 — — — — Net remeasurement of ECL arising from transfer of stage — 355 — (558 ) — (712 ) — — — (915 ) Changes due to modifications not derecognised — — — — — — — — — — New financial assets originated or purchased 215,501 (291 ) — — — — 12 — 215,513 (291 ) Asset derecognised (including final repayments) (163,342 ) 52 (12,522 ) 203 (1,064 ) 176 (20 ) 1 (176,948 ) 432 Changes to risk parameters – further lending/repayments 13,119 (169 ) 2,831 (221 ) (300 ) 63 (31 ) (1 ) 15,619 (328 ) Change in risk parameters – credit quality — (620 ) — (2,561 ) — (2,266 ) — (3 ) — (5,450 ) Changes to models used for ECL calculation — 30 — (63 ) — (9 ) — — — (42 ) Assets written off — — — — (1,249 ) 1,249 — — (1,249 ) 1,249 Credit-related modifications that resulted in derecognition — — — — (1 ) — — — (1 ) — Foreign exchange (43,145 ) 90 (2,672 ) 162 (588 ) 196 (13 ) 4 (46,418 ) 452 Other 36 12 93 (7 ) 16 (8 ) 7 (1 ) 152 (4 ) At 30 Jun 2020 1,445,121 (2,153 ) 224,597 (4,988 ) 18,494 (6,782 ) 300 (99 ) 1,688,512 (14,022 ) ECL income statement change for the period 1 (643 ) (3,200 ) (2,748 ) (3 ) (6,594 ) Recoveries 127 Other 3 Total ECL income statement change for the period (6,464 ) 1 In addition to the $2.8 bn stage 3 (personal: $0.6 bn, wholesale: $2.2 bn) and POCI ECL income statement charge for the period presented above, the Group also recognised a stage 3 and POCI ECL income statement charge of $0.2 bn in respect of other financial assets measured at amortised cost, performance and other guarantees and debt instruments measured at FVOCI. At 30 Jun 2020 6 months ended 30 Jun 2020 Gross carrying/nominal amount Allowance for ECL ECL charge $m $m $m As above 1,688,512 (14,022 ) (6,464 ) Other financial assets measured at amortised cost 751,872 (243 ) (127 ) Non-trading reverse purchase agreement commitments 86,949 — — Performance and other guarantees — — (157 ) Summary of financial instruments to which the impairment requirements in IFRS 9 are applied/Summary consolidated income statement 2,527,333 (14,265 ) (6,748 ) Debt instruments measured at FVOCI 402,331 (242 ) (110 ) Total allowance for ECL/total income statement ECL charge for the period n/a (14,507 ) (6,858 ) |
Disclosure of financial assets that are either past due or impaired | 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 for ECL Net Strong Good Satisfactory Sub- Credit impaired Total Footnotes $m $m $m $m $m $m $m $m Loans and advances to customers at amortised cost 493,586 243,340 248,791 28,756 17,435 1,031,908 (13,227 ) 1,018,681 – stage 1 480,945 203,612 160,839 7,282 — 852,678 (1,906 ) 850,772 – stage 2 12,641 39,728 87,952 21,474 — 161,795 (4,553 ) 157,242 – stage 3 — — — — 17,139 17,139 (6,669 ) 10,470 – POCI — — — — 296 296 (99 ) 197 Loans and advances to banks at amortised cost 69,599 4,039 2,382 1,040 9 77,069 (54 ) 77,015 – stage 1 66,544 2,919 2,142 88 — 71,693 (26 ) 71,667 – stage 2 3,055 1,120 240 952 — 5,367 (23 ) 5,344 – stage 3 — — — — 9 9 (5 ) 4 – POCI — — — — — — — — Other financial assets measured at amortised cost 665,256 60,821 24,788 774 233 751,872 (243 ) 751,629 – stage 1 664,153 58,654 21,716 201 — 744,724 (96 ) 744,628 – stage 2 1,103 2,167 3,072 573 — 6,915 (63 ) 6,852 – stage 3 — — — — 232 232 (84 ) 148 – POCI — — — — 1 1 — 1 Loan and other credit-related commitments 407,827 149,477 81,707 8,087 1,058 648,156 (622 ) 647,534 – stage 1 400,182 131,509 60,334 2,375 — 594,400 (193 ) 594,207 – stage 2 7,645 17,968 21,373 5,712 — 52,698 (339 ) 52,359 – stage 3 — — — — 1,055 1,055 (90 ) 965 – POCI — — — — 3 3 — 3 Financial guarantees 6,348 5,393 5,068 1,223 296 18,328 (119 ) 18,209 – stage 1 5,918 4,290 2,590 331 — 13,129 (28 ) 13,101 – stage 2 430 1,103 2,478 892 — 4,903 (73 ) 4,830 – stage 3 — — — — 295 295 (18 ) 277 – POCI — — — — 1 1 — 1 At 30 Jun 2020 1,642,616 463,070 362,736 39,880 19,031 2,527,333 (14,265 ) 2,513,068 Debt instruments at FVOCI 1 – stage 1 369,864 9,395 9,533 — — 388,792 (124 ) 388,668 – stage 2 2,812 616 387 962 — 4,777 (18 ) 4,759 – stage 3 — — — — 280 280 (100 ) 180 – POCI — — — — — — — — At 30 Jun 2020 372,676 10,011 9,920 962 280 393,849 (242 ) 393,607 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 Footnotes $m $m $m $m $m $m $m $m Loans and advances to customers at amortised cost 524,889 258,402 228,485 20,007 13,692 1,045,475 (8,732 ) 1,036,743 – stage 1 523,092 242,631 181,056 4,804 — 951,583 (1,297 ) 950,286 – stage 2 1,797 15,771 47,429 15,185 — 80,182 (2,284 ) 77,898 – stage 3 — — — — 13,378 13,378 (5,052 ) 8,326 – POCI — — — 18 314 332 (99 ) 233 Loans and advances to banks at amortised cost 60,636 5,329 1,859 1,395 — 69,219 (16 ) 69,203 – stage 1 60,548 5,312 1,797 112 — 67,769 (14 ) 67,755 – stage 2 88 17 62 1,283 — 1,450 (2 ) 1,448 – stage 3 — — — — — — — — – POCI — — — — — — — — Other financial assets measured at amortised cost 537,253 54,505 22,766 503 152 615,179 (118 ) 615,061 – stage 1 536,942 54,058 21,921 279 — 613,200 (38 ) 613,162 – stage 2 311 447 845 224 — 1,827 (38 ) 1,789 – stage 3 — — — — 151 151 (42 ) 109 – POCI — — — — 1 1 — 1 Loan and other credit-related commitments 369,424 146,988 77,499 5,338 780 600,029 (329 ) 599,700 – stage 1 368,711 141,322 66,283 1,315 — 577,631 (137 ) 577,494 – stage 2 713 5,666 11,216 4,023 — 21,618 (133 ) 21,485 – stage 3 — — — — 771 771 (59 ) 712 – POCI — — — — 9 9 — 9 Financial guarantees 7,441 6,033 5,539 1,011 190 20,214 (48 ) 20,166 – stage 1 7,400 5,746 4,200 338 — 17,684 (16 ) 17,668 – stage 2 41 287 1,339 673 — 2,340 (22 ) 2,318 – stage 3 — — — — 186 186 (10 ) 176 – POCI — — — — 4 4 — 4 At 31 Dec 2019 1,499,643 471,257 336,148 28,254 14,814 2,350,116 (9,243 ) 2,340,873 Debt instruments at FVOCI 1 – stage 1 333,072 10,941 6,902 — — 350,915 (39 ) 350,876 – stage 2 86 25 320 544 — 975 (127 ) 848 – stage 3 — — — — — — — — – POCI — — — — 1 1 — 1 At 31 Dec 2019 333,158 10,966 7,222 544 1 351,891 (166 ) 351,725 1 For the purposes of this disclosure, gross carrying value is defined as the amortised cost of a financial asset, before adjusting for any loss allowance. As such, the gross carrying value of debt instruments at FVOCI will not reconcile to the balance sheet as it excludes fair value gains and losses. |
Net fee income - Summary of net
Net fee income - Summary of net fee income (Details) - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2020 | Dec. 31, 2019 | Jun. 30, 2019 | |
Disclosure Of Analysis Of Income And Expense [Line Items] | |||
Funds under management | $ 1,113 | $ 1,110 | $ 1,067 |
Cards | 954 | 1,007 | 968 |
Broking income | 743 | 513 | 544 |
Credit facilities | 726 | 813 | 805 |
Account services | 649 | 969 | 1,034 |
Underwriting | 552 | 383 | 446 |
Unit trusts | 455 | 489 | 546 |
Global custody | 446 | 375 | 342 |
Remittances | 325 | 374 | 373 |
Imports/exports | 288 | 324 | 338 |
Insurance agency commission | 171 | 177 | 200 |
Other | 1,058 | 1,101 | 1,141 |
Fee income | 7,480 | 7,635 | 7,804 |
Less: fee expense | (1,554) | (1,736) | (1,680) |
Net fee income | 5,926 | 5,899 | 6,124 |
Wealth and Personal Banking | |||
Disclosure Of Analysis Of Income And Expense [Line Items] | |||
Net fee income | 2,691 | 2,765 | 2,870 |
Commercial Banking | |||
Disclosure Of Analysis Of Income And Expense [Line Items] | |||
Net fee income | 1,630 | 1,617 | 1,773 |
Global Banking and Markets | |||
Disclosure Of Analysis Of Income And Expense [Line Items] | |||
Net fee income | 1,608 | 1,550 | 1,489 |
Corporate Centre | |||
Disclosure Of Analysis Of Income And Expense [Line Items] | |||
Net fee income | $ (3) | $ (33) | $ (8) |
Dividends - Commentary (Details
Dividends - Commentary (Details) - USD ($) | Mar. 31, 2020 | Dec. 31, 2020 |
Ordinary shares | ||
Disclosure of classes of share capital [line items] | ||
Cancellation of dividends declared (in usd per share) | $ 0.21 | |
Fourth quarter dividend | ||
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 | $ 0 |
Dividends - Dividends to shareh
Dividends - Dividends to shareholders of the parent company (Details) - USD ($) $ / shares in Units, $ in Millions | 6 Months Ended | ||
Jun. 30, 2020 | Dec. 31, 2019 | Jun. 30, 2019 | |
Dividends Payable [Line Items] | |||
Dividends paid on ordinary shares (in usd per share) | $ 0 | $ 0.3 | $ 0.21 |
Dividends paid on ordinary shares | $ 0 | $ 6,063 | $ 4,206 |
Settled in scrip | 0 | 1,527 | 1,160 |
Dividends on preference shares classified as equity | $ 662 | $ 6,768 | $ 4,915 |
Preference shares | |||
Dividends Payable [Line Items] | |||
Dividends on preference shares classified as equity (in usd per share) | $ 31 | $ 31 | $ 31 |
Dividends on preference shares classified as equity | $ 45 | $ 45 | $ 45 |
Other equity instruments | |||
Dividends Payable [Line Items] | |||
Dividends on preference shares classified as equity | $ 617 | $ 660 | $ 664 |
Fourth interim dividend | |||
Dividends Payable [Line Items] | |||
Dividends paid on ordinary shares (in usd per share) | $ 0 | $ 0 | $ 0.21 |
Dividends paid on ordinary shares | $ 0 | $ 0 | $ 4,206 |
Settled in scrip | $ 0 | $ 0 | $ 1,160 |
First interim dividend | |||
Dividends Payable [Line Items] | |||
Dividends paid on ordinary shares (in usd per share) | $ 0 | $ 0.1 | $ 0 |
Dividends paid on ordinary shares | $ 0 | $ 2,013 | $ 0 |
Settled in scrip | $ 0 | $ 375 | $ 0 |
Second interim dividend | |||
Dividends Payable [Line Items] | |||
Dividends paid on ordinary shares (in usd per share) | $ 0 | $ 0.1 | $ 0 |
Dividends paid on ordinary shares | $ 0 | $ 2,021 | $ 0 |
Settled in scrip | $ 0 | $ 795 | $ 0 |
Third interim dividend | |||
Dividends Payable [Line Items] | |||
Dividends paid on ordinary shares (in usd per share) | $ 0 | $ 0.1 | $ 0 |
Dividends paid on ordinary shares | $ 0 | $ 2,029 | $ 0 |
Settled in scrip | $ 0 | $ 357 | $ 0 |
Dividends - Total coupons on ca
Dividends - Total coupons on capital securities classified as equity (Details) | 6 Months Ended | ||||||||
Jun. 30, 2020USD ($)$ / shares | Jun. 30, 2020USD ($)£ / shares | Jun. 30, 2020USD ($)$ / shares | Jun. 30, 2020USD ($)€ / shares | Dec. 31, 2019USD ($) | Jun. 30, 2019USD ($) | Jun. 30, 2020EUR (€) | Jun. 30, 2020GBP (£) | Jun. 30, 2020SGD ($) | |
Disclosure Of Other Equity [Line Items] | |||||||||
Dividends on other equity instruments | $ 662,000,000 | $ 6,768,000,000 | $ 4,915,000,000 | ||||||
Other equity instruments | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Dividends on other equity instruments | 617,000,000 | 660,000,000 | 664,000,000 | ||||||
Contingent convertible securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Discretionary coupons denominations per security | 1,000 | $ 1,000 | $ 1,000 | $ 1,000 | |||||
$1,500m 5.625% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | $ 1,500,000,000 | $ 1,500,000,000 | $ 1,500,000,000 | $ 1,500,000,000 | |||||
Other equity instruments interest rate | 5.625% | 5.625% | 5.625% | 5.625% | 5.625% | 5.625% | 5.625% | ||
$1,500m 5.625% Perpetual Subordinated Contingent Convertible Securities | Other equity instruments | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Dividends on other equity instruments (per share) | $ / shares | $ 56.250 | ||||||||
Dividends on other equity instruments | $ 0 | 42,000,000 | 42,000,000 | ||||||
$2,000m 6.875% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | $ 2,000,000,000 | $ 2,000,000,000 | $ 2,000,000,000 | $ 2,000,000,000 | |||||
Other equity instruments interest rate | 6.875% | 6.875% | 6.875% | 6.875% | 6.875% | 6.875% | 6.875% | ||
$2,000m 6.875% Perpetual Subordinated Contingent Convertible Securities | Other equity instruments | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Dividends on other equity instruments (per share) | $ / shares | $ 68.750 | ||||||||
Dividends on other equity instruments | $ 69,000,000 | 69,000,000 | 69,000,000 | ||||||
$2,250m 6.375% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | $ 2,250,000,000 | $ 2,250,000,000 | $ 2,250,000,000 | $ 2,250,000,000 | |||||
Other equity instruments interest rate | 6.375% | 6.375% | 6.375% | 6.375% | 6.375% | 6.375% | 6.375% | ||
$2,250m 6.375% Perpetual Subordinated Contingent Convertible Securities | Other equity instruments | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Dividends on other equity instruments (per share) | $ / shares | $ 63.750 | ||||||||
Dividends on other equity instruments | $ 72,000,000 | 71,000,000 | 72,000,000 | ||||||
$2,450m 6.375% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | $ 2,450,000,000 | $ 2,450,000,000 | $ 2,450,000,000 | $ 2,450,000,000 | |||||
Other equity instruments interest rate | 6.375% | 6.375% | 6.375% | 6.375% | 6.375% | 6.375% | 6.375% | ||
$2,450m 6.375% Perpetual Subordinated Contingent Convertible Securities | Other equity instruments | |||||||||
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 6.000% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | $ 3,000,000,000 | $ 3,000,000,000 | $ 3,000,000,000 | $ 3,000,000,000 | |||||
Other equity instruments interest rate | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | ||
$3,000m 6.000% Perpetual Subordinated Contingent Convertible Securities | Other equity instruments | |||||||||
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 6.250% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | $ 2,350,000,000 | $ 2,350,000,000 | $ 2,350,000,000 | $ 2,350,000,000 | |||||
Other equity instruments interest rate | 6.25% | 6.25% | 6.25% | 6.25% | 6.25% | 6.25% | 6.25% | ||
$2,350m 6.250% Perpetual Subordinated Contingent Convertible Securities | Other equity instruments | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Dividends on other equity instruments (per share) | $ / shares | $ 62.500 | ||||||||
Dividends on other equity instruments | $ 73,000,000 | 74,000,000 | 73,000,000 | ||||||
$1,800m 6.5% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | $ 1,800,000,000 | $ 1,800,000,000 | $ 1,800,000,000 | $ 1,800,000,000 | |||||
Other equity instruments interest rate | 6.50% | 6.50% | 6.50% | 6.50% | 6.50% | 6.50% | 6.50% | ||
$1,800m 6.5% Perpetual Subordinated Contingent Convertible Securities | Other equity instruments | |||||||||
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 | ||||||
EUR 1,500m 5.250% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | € | € 1,500,000,000 | ||||||||
Other equity instruments interest rate | 5.25% | 5.25% | 5.25% | 5.25% | 5.25% | 5.25% | 5.25% | ||
EUR 1,500m 5.250% Perpetual Subordinated Contingent Convertible Securities | Other equity instruments | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Dividends on other equity instruments (per share) | € / shares | $ 52.500 | ||||||||
Dividends on other equity instruments | $ 44,000,000 | 43,000,000 | 45,000,000 | ||||||
EUR 1,000m 6.000% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | € | € 1,000,000,000 | ||||||||
Other equity instruments interest rate | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | ||
EUR 1,000m 6.000% Perpetual Subordinated Contingent Convertible Securities | Other equity instruments | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Dividends on other equity instruments (per share) | € / shares | $ 60 | ||||||||
Dividends on other equity instruments | $ 33,000,000 | 32,000,000 | 34,000,000 | ||||||
EUR 1,250m 4.750% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | € | € 1,250,000,000 | ||||||||
Other equity instruments interest rate | 4.75% | 4.75% | 4.75% | 4.75% | 4.75% | 4.75% | 4.75% | ||
EUR 1,250m 4.750% Perpetual Subordinated Contingent Convertible Securities | Other equity instruments | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Dividends on other equity instruments (per share) | € / shares | $ 47.500 | ||||||||
Dividends on other equity instruments | $ 33,000,000 | 34,000,000 | 34,000,000 | ||||||
SGD 1000m 4.700% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | $ 1,000,000,000 | ||||||||
Other equity instruments interest rate | 4.70% | 4.70% | 4.70% | 4.70% | 4.70% | 4.70% | 4.70% | ||
SGD 1000m 4.700% Perpetual Subordinated Contingent Convertible Securities | Other equity instruments | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Dividends on other equity instruments (per share) | $ / shares | $ 47 | ||||||||
Dividends on other equity instruments | $ 17,000,000 | 17,000,000 | 17,000,000 | ||||||
SGD 750m 5.000% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | $ 750,000,000 | ||||||||
Other equity instruments interest rate | 5.00% | 5.00% | 5.00% | 5.00% | 5.00% | 5.00% | 5.00% | ||
SGD 750m 5.000% Perpetual Subordinated Contingent Convertible Securities | Other equity instruments | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Dividends on other equity instruments (per share) | $ / shares | $ 50 | ||||||||
Dividends on other equity instruments | $ 13,000,000 | 14,000,000 | 14,000,000 | ||||||
GBP 1,000m 5.875% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | £ | £ 1,000,000,000 | ||||||||
Other equity instruments interest rate | 5.875% | 5.875% | 5.875% | 5.875% | 5.875% | 5.875% | 5.875% | ||
GBP 1,000m 5.875% Perpetual Subordinated Contingent Convertible Securities | Other equity instruments | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Dividends on other equity instruments (per share) | £ / shares | $ 58.750 | ||||||||
Dividends on other equity instruments | $ 36,000,000 | $ 37,000,000 | $ 38,000,000 |
Earnings per share - Profit Att
Earnings per share - Profit Attributable to Ordinary Shareholders (Details) - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2020 | Dec. 31, 2019 | Jun. 30, 2019 | |
Earnings per share [abstract] | |||
Profit attributable to shareholders of the parent company | $ 2,639 | $ (1,833) | $ 9,216 |
Dividend payable on preference shares classified as equity | (45) | (45) | (45) |
Coupon payable on capital securities classified as equity | (617) | (660) | (664) |
Profit/(loss) attributable to ordinary shareholders of the parent company | $ 1,977 | $ (2,538) | $ 8,507 |
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, 2020 | Dec. 31, 2019 | Jun. 30, 2019 | |
Earnings per share [abstract] | |||
Profit | $ 1,977 | $ (2,538) | $ 8,507 |
Basic, number of shares (in shares) | 20,162 | 20,191 | 20,124 |
Effect of dilutive potential ordinary shares (in shares) | 58 | 0 | 65 |
Diluted, number of shares (in shares) | 20,220 | 20,191 | 20,189 |
Basic, amount per share (in dollars per share) | $ 0.10 | $ (0.13) | $ 0.42 |
Diluted, amount per share (in dollars per share) | $ 0.10 | $ (0.13) | $ 0.42 |
Segmental analysis - Adjusted p
Segmental analysis - Adjusted profit before tax and balance sheet data (Details) $ in Millions | 6 Months Ended | ||
Jun. 30, 2020USD ($)function | Dec. 31, 2019USD ($) | Jun. 30, 2019USD ($) | |
Disclosure of operating segments [line items] | |||
Number of global functions | function | 3 | ||
Net operating income before change in expected credit losses and other credit impairment charges | $ 26,745 | $ 26,726 | $ 29,372 |
of which: net interest income/(expense) | 14,509 | 15,222 | 15,240 |
Change in expected credit losses and other credit impairment charges | (6,858) | (1,616) | (1,140) |
Net operating income | 19,887 | 25,110 | 28,232 |
Total operating expenses | (16,527) | (25,200) | (17,149) |
Operating profit/(loss) | 3,360 | (90) | 11,083 |
Share of profit in associates and joint ventures | 958 | 1,030 | 1,324 |
Profit before tax | 4,318 | 940 | 12,407 |
Loans and advances to customers (net) | 1,018,681 | 1,036,743 | |
Interests in associates and joint ventures | 24,800 | 24,474 | |
Total external assets | 2,922,798 | 2,715,152 | |
Customer accounts | 1,532,380 | 1,439,115 | |
Adjusted | |||
Disclosure of operating segments [line items] | |||
Net operating income before change in expected credit losses and other credit impairment charges | 26,477 | 26,632 | 27,815 |
Net operating income | 19,619 | 25,078 | 26,727 |
Adjusted | Wealth and Personal Banking | |||
Disclosure of operating segments [line items] | |||
Net operating income before change in expected credit losses and other credit impairment charges | 11,251 | 12,492 | 12,861 |
Net operating income | 9,049 | 11,663 | 12,334 |
Adjusted | Commercial Banking | |||
Disclosure of operating segments [line items] | |||
Net operating income before change in expected credit losses and other credit impairment charges | 7,000 | 7,379 | 7,647 |
Net operating income | 3,474 | 6,695 | 7,169 |
Adjusted | Global Banking and Markets | |||
Disclosure of operating segments [line items] | |||
Net operating income before change in expected credit losses and other credit impairment charges | 8,178 | 7,113 | 7,590 |
Net operating income | 7,060 | 7,052 | 7,493 |
Adjusted | Corporate Centre | |||
Disclosure of operating segments [line items] | |||
Net operating income before change in expected credit losses and other credit impairment charges | 48 | (352) | (283) |
Net operating income | 36 | (332) | (269) |
Adjusted | |||
Disclosure of operating segments [line items] | |||
Net operating income before change in expected credit losses and other credit impairment charges | 26,477 | 26,632 | 27,815 |
of which: net interest income/(expense) | 14,483 | 15,216 | 14,897 |
Change in expected credit losses and other credit impairment charges | (6,858) | (1,554) | (1,088) |
Total operating expenses | (14,942) | (16,448) | (15,739) |
Operating profit/(loss) | 4,677 | 8,630 | 10,988 |
Share of profit in associates and joint ventures | 958 | 1,030 | 1,285 |
Profit before tax | $ 5,635 | $ 9,660 | $ 12,273 |
Share of HSBC’s adjusted profit before tax | 100.00% | 100.00% | 100.00% |
Adjusted cost efficiency ratio | 0.564 | 0.618 | 0.566 |
Loans and advances to customers (net) | $ 1,018,681 | $ 1,006,661 | $ 1,002,980 |
Interests in associates and joint ventures | 24,800 | 24,231 | 23,523 |
Total external assets | 2,922,798 | 2,638,494 | 2,703,565 |
Customer accounts | 1,532,380 | 1,399,656 | 1,357,147 |
Adjusted | Wealth and Personal Banking | |||
Disclosure of operating segments [line items] | |||
Net operating income before change in expected credit losses and other credit impairment charges | 9,684 | 10,320 | 10,747 |
of which: net interest income/(expense) | 8,032 | 8,769 | 8,525 |
Change in expected credit losses and other credit impairment charges | (2,202) | (829) | (527) |
Total operating expenses | (7,346) | (7,685) | (7,551) |
Operating profit/(loss) | 1,703 | 3,978 | 4,783 |
Share of profit in associates and joint ventures | (8) | 11 | 41 |
Profit before tax | $ 1,695 | $ 3,989 | $ 4,824 |
Share of HSBC’s adjusted profit before tax | 30.10% | 41.30% | 39.30% |
Adjusted cost efficiency ratio | 0.653 | 0.615 | 0.587 |
Loans and advances to customers (net) | $ 429,487 | $ 428,834 | $ 414,611 |
Interests in associates and joint ventures | 425 | 445 | 451 |
Total external assets | 814,719 | 754,369 | 729,032 |
Customer accounts | 775,870 | 735,301 | 714,969 |
Adjusted | Commercial Banking | |||
Disclosure of operating segments [line items] | |||
Net operating income before change in expected credit losses and other credit impairment charges | 7,431 | 7,871 | 8,087 |
of which: net interest income/(expense) | 4,883 | 5,409 | 5,466 |
Change in expected credit losses and other credit impairment charges | (3,526) | (684) | (478) |
Total operating expenses | (3,290) | (3,498) | (3,258) |
Operating profit/(loss) | 184 | 3,197 | 3,911 |
Share of profit in associates and joint ventures | 0 | 0 | 0 |
Profit before tax | $ 184 | $ 3,197 | $ 3,911 |
Share of HSBC’s adjusted profit before tax | 3.30% | 33.10% | 31.90% |
Adjusted cost efficiency ratio | 0.470 | 0.474 | 0.426 |
Loans and advances to customers (net) | $ 344,567 | $ 336,345 | $ 340,976 |
Interests in associates and joint ventures | 13 | 13 | 12 |
Total external assets | 549,530 | 496,757 | 506,223 |
Customer accounts | 418,263 | 377,691 | 354,806 |
Adjusted | Global Banking and Markets | |||
Disclosure of operating segments [line items] | |||
Net operating income before change in expected credit losses and other credit impairment charges | 10,105 | 9,886 | 10,258 |
of which: net interest income/(expense) | 2,372 | 2,533 | 2,667 |
Change in expected credit losses and other credit impairment charges | (1,118) | (61) | (97) |
Total operating expenses | (4,512) | (4,656) | (4,758) |
Operating profit/(loss) | 2,548 | 2,396 | 2,735 |
Share of profit in associates and joint ventures | 0 | 0 | 0 |
Profit before tax | $ 2,548 | $ 2,396 | $ 2,735 |
Share of HSBC’s adjusted profit before tax | 45.20% | 24.80% | 22.30% |
Adjusted cost efficiency ratio | 0.552 | 0.655 | 0.627 |
Loans and advances to customers (net) | $ 243,355 | $ 240,411 | $ 246,209 |
Interests in associates and joint ventures | 136 | 13 | 14 |
Total external assets | 1,390,006 | 1,233,829 | 1,319,642 |
Customer accounts | 337,573 | 285,954 | 286,867 |
Adjusted | Corporate Centre | |||
Disclosure of operating segments [line items] | |||
Net operating income before change in expected credit losses and other credit impairment charges | (743) | (1,445) | (1,277) |
of which: net interest income/(expense) | (804) | (1,495) | (1,761) |
Change in expected credit losses and other credit impairment charges | (12) | 20 | 14 |
Total operating expenses | 206 | (609) | (172) |
Operating profit/(loss) | 242 | (941) | (441) |
Share of profit in associates and joint ventures | 966 | 1,019 | 1,244 |
Profit before tax | $ 1,208 | $ 78 | $ 803 |
Share of HSBC’s adjusted profit before tax | 21.40% | 0.80% | 6.50% |
Adjusted cost efficiency ratio | (4.292) | (1.730) | (0.608) |
Loans and advances to customers (net) | $ 1,272 | $ 1,071 | $ 1,184 |
Interests in associates and joint ventures | 24,226 | 23,760 | 23,046 |
Total external assets | 168,543 | 153,539 | 148,668 |
Customer accounts | 674 | 710 | 505 |
Inter-segment | |||
Disclosure of operating segments [line items] | |||
Net operating income before change in expected credit losses and other credit impairment charges | 0 | ||
Inter-segment | Wealth and Personal Banking | |||
Disclosure of operating segments [line items] | |||
Net operating income before change in expected credit losses and other credit impairment charges | 1,567 | 2,172 | 2,114 |
Inter-segment | Commercial Banking | |||
Disclosure of operating segments [line items] | |||
Net operating income before change in expected credit losses and other credit impairment charges | (431) | (492) | (440) |
Inter-segment | Global Banking and Markets | |||
Disclosure of operating segments [line items] | |||
Net operating income before change in expected credit losses and other credit impairment charges | (1,927) | (2,773) | (2,668) |
Inter-segment | Corporate Centre | |||
Disclosure of operating segments [line items] | |||
Net operating income before change in expected credit losses and other credit impairment charges | $ 791 | $ 1,093 | $ 994 |
Segmental analysis - Reported e
Segmental analysis - Reported external net operating income by country/territory (Details) - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2020 | Dec. 31, 2019 | Jun. 30, 2019 | |
Disclosure of geographical areas [line items] | |||
Net operating income | $ 26,745 | $ 26,726 | $ 29,372 |
UK | |||
Disclosure of geographical areas [line items] | |||
Net operating income | 4,166 | 4,434 | 4,577 |
Hong Kong | |||
Disclosure of geographical areas [line items] | |||
Net operating income | 8,703 | 8,988 | 9,461 |
US | |||
Disclosure of geographical areas [line items] | |||
Net operating income | 2,435 | 2,178 | 2,293 |
France | |||
Disclosure of geographical areas [line items] | |||
Net operating income | 697 | 963 | 979 |
Other countries | |||
Disclosure of geographical areas [line items] | |||
Net operating income | $ 10,744 | $ 10,163 | $ 12,062 |
Segmental analysis - Adjusted r
Segmental analysis - Adjusted results reconciliation (Details) - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2020 | Dec. 31, 2019 | Jun. 30, 2019 | |
Disclosure of operating segments [line items] | |||
Revenue | $ 26,745 | $ 26,726 | $ 29,372 |
ECL | (6,858) | (1,616) | (1,140) |
Operating expenses | (16,527) | (25,200) | (17,149) |
Share of profit in associates and joint ventures | 958 | 1,030 | 1,324 |
Profit before tax | 4,318 | 940 | 12,407 |
Adjusted | |||
Disclosure of operating segments [line items] | |||
Revenue | 26,477 | 26,632 | 27,815 |
Adjusted | |||
Disclosure of operating segments [line items] | |||
Revenue | 26,477 | 26,632 | 27,815 |
ECL | (6,858) | (1,554) | (1,088) |
Operating expenses | (14,942) | (16,448) | (15,739) |
Share of profit in associates and joint ventures | 958 | 1,030 | 1,285 |
Profit before tax | 5,635 | 9,660 | 12,273 |
Significant items | |||
Disclosure of operating segments [line items] | |||
Revenue | 268 | (187) | 876 |
ECL | 0 | 0 | 0 |
Operating expenses | (1,585) | (8,524) | (957) |
Share of profit in associates and joint ventures | 0 | 0 | 0 |
Profit before tax | (1,317) | (8,711) | (81) |
Currency translation | |||
Disclosure of operating segments [line items] | |||
Revenue | 281 | 681 | |
ECL | (62) | (52) | |
Operating expenses | (228) | (453) | |
Share of profit in associates and joint ventures | 0 | 39 | |
Profit before tax | $ (9) | $ 215 |
Segmental analysis - Adjusted b
Segmental analysis - Adjusted balance sheet reconciliation (Details) - USD ($) $ in Millions | Jun. 30, 2020 | Dec. 31, 2019 | Jun. 30, 2019 |
Disclosure of operating segments [line items] | |||
Loans and advances to customers (net) | $ 1,018,681 | $ 1,036,743 | |
Interests in associates and joint ventures | 24,800 | 24,474 | |
Total external assets | 2,922,798 | 2,715,152 | |
Customer accounts | 1,532,380 | 1,439,115 | |
Adjusted | |||
Disclosure of operating segments [line items] | |||
Loans and advances to customers (net) | 1,018,681 | 1,006,661 | $ 1,002,980 |
Interests in associates and joint ventures | 24,800 | 24,231 | 23,523 |
Total external assets | 2,922,798 | 2,638,494 | 2,703,565 |
Customer accounts | $ 1,532,380 | 1,399,656 | $ 1,357,147 |
Currency translation | |||
Disclosure of operating segments [line items] | |||
Loans and advances to customers (net) | 30,082 | ||
Interests in associates and joint ventures | 243 | ||
Total external assets | 76,658 | ||
Customer accounts | $ 39,459 |
Segmental analysis - Adjusted_2
Segmental analysis - Adjusted profit reconciliation (Details) - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2020 | Dec. 31, 2019 | Jun. 30, 2019 | |
Disclosure of operating segments [line items] | |||
Profit before tax | $ 4,318 | $ 940 | $ 12,407 |
– restructuring and other related costs (revenue) | (49) | 0 | 0 |
Adjusted | |||
Disclosure of operating segments [line items] | |||
Profit before tax | 5,635 | 9,660 | 12,273 |
Significant items | |||
Disclosure of operating segments [line items] | |||
Profit before tax | (1,317) | (8,711) | (81) |
– customer redress programmes (revenue) | 26 | (163) | 0 |
– disposals, acquisitions and investment in new businesses (revenue) | (8) | (59) | 827 |
– fair value movements on financial instruments | 299 | 34 | 50 |
– costs of structural reform | 0 | (67) | (91) |
– customer redress programmes (operating expenses) | (50) | (671) | (610) |
– impairment of goodwill and other intangible assets | 1,025 | 7,349 | 0 |
– restructuring and other related costs (operating expenses) | (505) | (540) | (287) |
– settlements and provisions in connection with legal and other regulatory matters | (5) | 59 | 2 |
– currency translation on significant items | 45 | 28 | |
Currency translation | |||
Disclosure of operating segments [line items] | |||
Profit before tax | $ (9) | $ 215 | |
Software | Significant items | |||
Disclosure of operating segments [line items] | |||
– impairment of goodwill and other intangible assets | $ (173) |
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 | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2020 | Dec. 31, 2019 | Jun. 30, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | |
Trading assets | |||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||||
Transfers from Level 1 to Level 2 | $ 2,132 | $ 3,304 | |||
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] | |||||
Transfers from Level 1 to Level 2 | 217 | 0 | |||
Derivatives | |||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||||
Transfers from Level 1 to Level 2 | 0 | 24 | |||
Financial investments | |||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||||
Financial assets | 404,328 | $ 357,577 | 357,577 | ||
Transfers from Level 1 to Level 2 | 1,342 | 7,965 | |||
Recurring fair value measurement | Level 3 | |||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||||
Financial assets | 21,463 | 19,809 | 19,809 | ||
Financial liabilities | 8,838 | 7,371 | 7,371 | ||
Recurring fair value measurement | Trading liabilities | |||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||||
Financial liabilities | 79,612 | 83,170 | 83,170 | ||
Recurring fair value measurement | Trading liabilities | Level 1 | |||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||||
Financial liabilities | 63,204 | 66,925 | 66,925 | ||
Recurring fair value measurement | Trading liabilities | Level 2 | |||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||||
Financial liabilities | 16,303 | 16,192 | 16,192 | ||
Recurring fair value measurement | Trading liabilities | Level 3 | |||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||||
Financial liabilities | 105 | 53 | $ 49 | 53 | $ 58 |
Recurring fair value measurement | Financial liabilities designated at fair value | |||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||||
Financial liabilities | 156,608 | 164,466 | 164,466 | ||
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 | 1,059 | 9,549 | 9,549 | ||
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 | 150,541 | 149,901 | 149,901 | ||
Recurring fair value measurement | Financial liabilities designated at fair value | Level 3 | |||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||||
Financial liabilities | 5,008 | 5,016 | 5,396 | 5,016 | 5,328 |
Recurring fair value measurement | Derivatives | |||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||||
Financial liabilities | 303,059 | 239,497 | 239,497 | ||
Recurring fair value measurement | Derivatives | Level 1 | |||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||||
Financial liabilities | 2,002 | 1,331 | 1,331 | ||
Recurring fair value measurement | Derivatives | Level 2 | |||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||||
Financial liabilities | 297,332 | 235,864 | 235,864 | ||
Recurring fair value measurement | Derivatives | Level 3 | |||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||||
Financial liabilities | 3,725 | 2,302 | 2,033 | 2,302 | 1,756 |
Recurring fair value measurement | Trading assets | |||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||||
Financial assets | 208,964 | 254,271 | 254,271 | ||
Recurring fair value measurement | Trading assets | Level 1 | |||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||||
Financial assets | 141,930 | 186,653 | 186,653 | ||
Recurring fair value measurement | Trading assets | Level 2 | |||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||||
Financial assets | 63,169 | 62,639 | 62,639 | ||
Recurring fair value measurement | Trading assets | Level 3 | |||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||||
Financial assets | 3,865 | 4,979 | 5,673 | 4,979 | 6,759 |
Transfers into Level 3 | 795 | 234 | 222 | ||
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 | 41,785 | 43,627 | 43,627 | ||
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 | 16,054 | 18,626 | 18,626 | ||
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 | 15,327 | 15,525 | 15,525 | ||
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 | 10,404 | 9,476 | 8,245 | 9,476 | 7,080 |
Transfers into Level 3 | 101 | 0 | 40 | ||
Recurring fair value measurement | Derivatives | |||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||||
Financial assets | 313,781 | 242,995 | 242,995 | ||
Recurring fair value measurement | Derivatives | Level 1 | |||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||||
Financial assets | 2,126 | 1,728 | 1,728 | ||
Recurring fair value measurement | Derivatives | Level 2 | |||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||||
Financial assets | 307,800 | 239,131 | 239,131 | ||
Recurring fair value measurement | Derivatives | Level 3 | |||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||||
Financial assets | 3,855 | 2,136 | 1,930 | 2,136 | 2,423 |
Transfers into Level 3 | 30 | 146 | 50 | ||
Recurring fair value measurement | Financial investments | |||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||||
Financial assets | 404,328 | 357,577 | 357,577 | ||
Transfers from Level 1 to Level 2 | 15,100 | ||||
Transfers into Level 3 | 2,900 | ||||
Recurring fair value measurement | Financial investments | Level 1 | |||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||||
Financial assets | 311,685 | 261,341 | 261,341 | ||
Recurring fair value measurement | Financial investments | Level 2 | |||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||||
Financial assets | 89,304 | 93,018 | 93,018 | ||
Recurring fair value measurement | Financial investments | Level 3 | |||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||||
Financial assets | 3,339 | 3,218 | 3,296 | 3,218 | $ 2,796 |
Transfers into Level 3 | 247 | 108 | $ 179 | ||
Other portfolios | Recurring fair value measurement | Level 3 | |||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||||
Financial assets | 5,298 | 6,243 | 6,243 | ||
Private equity including strategic investments | Recurring fair value measurement | Level 3 | |||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||||
Financial assets | 10,448 | 9,551 | 9,551 | ||
Private equity including strategic investments | Recurring fair value measurement | Trading assets | Level 3 | |||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||||
Financial assets | 3 | 4 | 4 | ||
Private equity including strategic investments | 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 | 9,756 | 8,831 | 8,831 | ||
Private equity including strategic investments | Recurring fair value measurement | Derivatives | Level 3 | |||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||||
Financial assets | 0 | 0 | 0 | ||
Private equity including strategic investments | Recurring fair value measurement | Financial investments | Level 3 | |||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||||
Financial assets | $ 689 | $ 716 | $ 716 |
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, 2020 | Dec. 31, 2019 | |
Trading liabilities | ||
Liabilities | ||
Transfers from Level 1 to Level 2 | $ 98 | $ 278 |
Transfers from Level 2 to Level 1 | 355 | 220 |
Designated at fair value | ||
Liabilities | ||
Transfers from Level 1 to Level 2 | 7,414 | 0 |
Transfers from Level 2 to Level 1 | 0 | 0 |
Derivatives | ||
Liabilities | ||
Transfers from Level 1 to Level 2 | 0 | 0 |
Transfers from Level 2 to Level 1 | 0 | 117 |
Financial investments | ||
Assets | ||
Transfers from Level 1 to Level 2 | 1,342 | 7,965 |
Transfers from Level 2 to Level 1 | 4,353 | 4,184 |
Trading assets | ||
Assets | ||
Transfers from Level 1 to Level 2 | 2,132 | 3,304 |
Transfers from Level 2 to Level 1 | 3,025 | 2,726 |
Designated and otherwise mandatorily measured at fair value | ||
Assets | ||
Transfers from Level 1 to Level 2 | 217 | 0 |
Transfers from Level 2 to Level 1 | 154 | 673 |
Derivatives | ||
Assets | ||
Transfers from Level 1 to Level 2 | 0 | 24 |
Transfers from Level 2 to Level 1 | $ 1 | $ 111 |
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, 2020 | Dec. 31, 2019 | |
GBM | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | $ 1,418 | $ 1,183 |
Corporate Centre | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 154 | 128 |
Risk-related | GBM | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 1,230 | 1,040 |
Risk-related | Corporate Centre | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 149 | 125 |
– bid-offer | GBM | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 486 | 428 |
– bid-offer | Corporate Centre | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 92 | 79 |
– uncertainty | GBM | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 101 | 115 |
– 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 | 558 | 355 |
– credit valuation adjustment | Corporate Centre | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 48 | 38 |
– debt valuation adjustment | GBM | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | (184) | (126) |
– 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 | 239 | 241 |
– funding fair value adjustment | Corporate Centre | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 8 | 7 |
– other | GBM | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 30 | 27 |
– 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 | 99 | 71 |
Model-related | Corporate Centre | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 5 | 3 |
– model limitation | GBM | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 96 | 68 |
– model limitation | Corporate Centre | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 5 | 3 |
– other | GBM | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 3 | 3 |
– 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) | GBM | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 89 | 72 |
Inception profit (Day 1 P&L reserves) | Corporate Centre | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | $ 0 | $ 0 |
Fair values of financial inst_8
Fair values of financial instruments carried at fair value - Financial instruments measured at fair value using a valuation technique with significant unobservable inputs - Level 3 (Details) - USD ($) $ in Millions | Jun. 30, 2020 | Dec. 31, 2019 | Jun. 30, 2019 | Dec. 31, 2018 |
Financial investments | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | $ 404,328 | $ 357,577 | ||
Changes in FV due to refinement in application of levelling methodology | 59 | |||
Designated and otherwise mandatorily measured at fair value through profit or loss | Designated at fair value | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Changes in FV due to refinement in application of levelling methodology | 86 | |||
Recurring fair value measurement | Trading liabilities | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 79,612 | 83,170 | ||
Recurring fair value measurement | Designated at fair value | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 156,608 | 164,466 | ||
Recurring fair value measurement | Derivatives | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 303,059 | 239,497 | ||
Recurring fair value measurement | Financial investments | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 404,328 | 357,577 | ||
Recurring fair value measurement | Trading assets | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 208,964 | 254,271 | ||
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 | 41,785 | 43,627 | ||
Recurring fair value measurement | Derivatives | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 313,781 | 242,995 | ||
Recurring fair value measurement | Level 3 | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 21,463 | 19,809 | ||
Financial liabilities | 8,838 | 7,371 | ||
Changes in FV due to refinement in application of levelling methodology | 2,900 | |||
Recurring fair value measurement | Level 3 | Private equity including strategic investments | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 3 | 4 | ||
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 | Loans held for securitisation | ||||
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 | 5,039 | 5,063 | ||
Recurring fair value measurement | Level 3 | Derivatives with monolines | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 0 | 0 | ||
Recurring fair value measurement | Level 3 | Other derivatives | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 3,717 | 2,302 | ||
Recurring fair value measurement | Level 3 | Other portfolios | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 79 | 2 | ||
Recurring fair value measurement | Level 3 | Trading liabilities | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 105 | 53 | $ 49 | $ 58 |
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 | 3 | 4 | ||
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 | Loans held for securitisation | ||||
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 | 36 | 47 | ||
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 | 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 | 66 | 2 | ||
Recurring fair value measurement | Level 3 | Designated at fair value | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 5,008 | 5,016 | 5,396 | 5,328 |
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 | Loans held for securitisation | ||||
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 | 5,003 | 5,016 | ||
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 | 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 | 5 | 0 | ||
Recurring fair value measurement | Level 3 | Derivatives | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 3,725 | 2,302 | 2,033 | 1,756 |
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 | Loans held for securitisation | ||||
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 | 0 | ||
Recurring fair value measurement | Level 3 | Derivatives | Other derivatives | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 3,717 | 2,302 | ||
Recurring fair value measurement | Level 3 | Derivatives | Other portfolios | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 8 | 0 | ||
Recurring fair value measurement | Level 3 | Other portfolios | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 5,298 | 6,243 | ||
Changes in FV due to refinement in application of levelling methodology | 1,400 | |||
Recurring fair value measurement | Level 3 | Private equity including strategic investments | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 10,448 | 9,551 | ||
Changes in FV due to refinement in application of levelling methodology | 1,500 | |||
Recurring fair value measurement | Level 3 | Asset-backed securities | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 1,867 | 1,836 | ||
Recurring fair value measurement | Level 3 | Loans held for securitisation | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 1 | 40 | ||
Recurring fair value measurement | Level 3 | Structured notes | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 3 | 3 | ||
Recurring fair value measurement | Level 3 | Derivatives with monolines | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 75 | 66 | ||
Recurring fair value measurement | Level 3 | Other derivatives | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 3,771 | 2,070 | ||
Recurring fair value measurement | Level 3 | Other portfolios | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 5,298 | 6,243 | ||
Recurring fair value measurement | Level 3 | Financial investments | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 3,339 | 3,218 | 3,296 | 2,796 |
Changes in FV due to refinement in application of levelling methodology | 1,200 | |||
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 | 689 | 716 | ||
Recurring fair value measurement | Level 3 | Financial investments | Asset-backed securities | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 1,095 | 874 | ||
Recurring fair value measurement | Level 3 | Financial investments | Loans held for securitisation | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 0 | 0 | ||
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 | 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 | 1,555 | 1,628 | ||
Recurring fair value measurement | Level 3 | Trading assets | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 3,865 | 4,979 | 5,673 | 6,759 |
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 | 3 | 4 | ||
Recurring fair value measurement | Level 3 | Trading assets | Asset-backed securities | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 674 | 934 | ||
Recurring fair value measurement | Level 3 | Trading assets | Loans held for securitisation | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 1 | 1 | ||
Recurring fair value measurement | Level 3 | Trading assets | Structured notes | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 3 | 3 | ||
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 | 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 | 3,184 | 4,037 | ||
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 | 10,404 | 9,476 | 8,245 | 7,080 |
Changes in FV due to refinement in application of levelling methodology | 2,900 | |||
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 | 9,756 | 8,831 | ||
Changes in FV due to refinement in application of levelling methodology | 1,700 | |||
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 | 98 | 28 | ||
Recurring fair value measurement | Level 3 | Designated and otherwise mandatorily measured at fair value through profit or loss | Loans held for securitisation | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 0 | 39 | ||
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 | 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 | 550 | 578 | ||
Recurring fair value measurement | Level 3 | Derivatives | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 3,855 | 2,136 | $ 1,930 | $ 2,423 |
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 | Loans held for securitisation | ||||
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 | 75 | 66 | ||
Recurring fair value measurement | Level 3 | Derivatives | Other derivatives | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 3,771 | 2,070 | ||
Recurring fair value measurement | Level 3 | Derivatives | Other portfolios | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | $ 9 | $ 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 | 12 Months Ended | ||
Jun. 30, 2020 | Dec. 31, 2019 | Jun. 30, 2019 | Dec. 31, 2019 | |
Reconciliation of changes in fair value measurement, assets [abstract] | ||||
– financial investments: fair value gains/(losses) | $ 2,654 | $ (348) | $ 2,141 | |
Level 3 | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, assets [abstract] | ||||
Financial assets, beginning balance | 19,809 | |||
Financial assets, ending balance | 21,463 | 19,809 | $ 19,809 | |
Reconciliation of changes in fair value measurement, liabilities [abstract] | ||||
Financial liabilities, beginning balance | 7,371 | |||
Financial liabilities, ending balance | 8,838 | 7,371 | 7,371 | |
Changes in FV due to refinement in application of levelling methodology | 2,900 | 2,900 | ||
Trading liabilities | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, liabilities [abstract] | ||||
Financial liabilities, beginning balance | 83,170 | |||
Financial liabilities, ending balance | 79,612 | 83,170 | 83,170 | |
Trading liabilities | Level 3 | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, assets [abstract] | ||||
– financial investments: fair value gains/(losses) | 0 | 0 | 0 | |
– exchange differences | (2) | 2 | (1) | |
Reconciliation of changes in fair value measurement, liabilities [abstract] | ||||
Financial liabilities, beginning balance | 53 | 49 | 58 | 58 |
Total gains/(losses) recognised in profit or loss | 0 | 0 | (4) | |
Total gains/(losses) recognised in other comprehensive income (‘OCI’) | (2) | 2 | (1) | |
– exchange differences | (2) | 2 | (1) | |
Purchases | 63 | 3 | 5 | |
New issuances | 2 | 6 | 0 | |
Sales | (1) | 0 | (9) | |
Settlements | (12) | (7) | 0 | |
Transfers out | (5) | 0 | (9) | |
Transfers in | 7 | 0 | 9 | |
Financial liabilities, ending balance | 105 | 53 | 49 | 53 |
Unrealised gains/(losses) recognised in profit or loss relating to liabilities held | (3) | 0 | (23) | |
Designated at fair value | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, liabilities [abstract] | ||||
Financial liabilities, beginning balance | 164,466 | |||
Financial liabilities, ending balance | 156,608 | 164,466 | 164,466 | |
Designated at fair value | Level 3 | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, assets [abstract] | ||||
– financial investments: fair value gains/(losses) | 0 | 0 | 0 | |
– exchange differences | (78) | 24 | (6) | |
Reconciliation of changes in fair value measurement, liabilities [abstract] | ||||
Financial liabilities, beginning balance | 5,016 | 5,396 | 5,328 | 5,328 |
Total gains/(losses) recognised in profit or loss | (117) | (51) | 246 | |
Total gains/(losses) recognised in other comprehensive income (‘OCI’) | (78) | 24 | (6) | |
– exchange differences | (78) | 24 | (6) | |
Purchases | 0 | 39 | 118 | |
New issuances | 1,091 | 783 | 818 | |
Sales | 0 | (13) | (180) | |
Settlements | (853) | (652) | (396) | |
Transfers out | (275) | (529) | (550) | |
Transfers in | 224 | 19 | 18 | |
Financial liabilities, ending balance | 5,008 | 5,016 | 5,396 | 5,016 |
Unrealised gains/(losses) recognised in profit or loss relating to liabilities held | 100 | 57 | (7) | |
Derivatives | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, liabilities [abstract] | ||||
Financial liabilities, beginning balance | 239,497 | |||
Financial liabilities, ending balance | 303,059 | 239,497 | 239,497 | |
Derivatives | Level 3 | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, assets [abstract] | ||||
– financial investments: fair value gains/(losses) | 0 | 0 | 0 | |
– exchange differences | (162) | 62 | (10) | |
Reconciliation of changes in fair value measurement, liabilities [abstract] | ||||
Financial liabilities, beginning balance | 2,302 | 2,033 | 1,756 | 1,756 |
Total gains/(losses) recognised in profit or loss | 2,105 | 339 | 591 | |
Total gains/(losses) recognised in other comprehensive income (‘OCI’) | (162) | 62 | (10) | |
– exchange differences | (162) | 62 | (10) | |
Purchases | 0 | 0 | 0 | |
New issuances | 0 | 0 | 0 | |
Sales | 0 | 0 | 0 | |
Settlements | (307) | (26) | (136) | |
Transfers out | (270) | (284) | (189) | |
Transfers in | 57 | 178 | 21 | |
Financial liabilities, ending balance | 3,725 | 2,302 | 2,033 | 2,302 |
Unrealised gains/(losses) recognised in profit or loss relating to liabilities held | 1,104 | (407) | (320) | |
Financial investments | ||||
Reconciliation of changes in fair value measurement, assets [abstract] | ||||
Financial assets, beginning balance | 357,577 | |||
Financial assets, ending balance | 404,328 | 357,577 | 357,577 | |
Reconciliation of changes in fair value measurement, liabilities [abstract] | ||||
Changes in FV due to refinement in application of levelling methodology | 59 | 59 | ||
Financial investments | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, assets [abstract] | ||||
Financial assets, beginning balance | 357,577 | |||
Transfers in | 2,900 | |||
Financial assets, ending balance | 404,328 | 357,577 | 357,577 | |
Financial investments | Level 3 | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, assets [abstract] | ||||
Financial assets, beginning balance | 3,218 | 3,296 | 2,796 | 2,796 |
Total gains/(losses) recognised in profit or loss | (13) | 6 | 0 | |
Total gains/(losses) recognised in other comprehensive income (‘OCI’) | (29) | 73 | 236 | |
– financial investments: fair value gains/(losses) | (19) | 63 | 238 | |
– exchange differences | (10) | 10 | (2) | |
Purchases | 610 | 357 | 336 | |
New issuances | 0 | 0 | 0 | |
Sales | (271) | (49) | (7) | |
Settlements | 401 | 89 | 240 | |
Transfers out | (22) | (484) | (4) | |
Transfers in | 247 | 108 | 179 | |
Financial assets, ending balance | 3,339 | 3,218 | 3,296 | 3,218 |
Unrealised gains/(losses) recognised in profit or loss relating to assets held | 0 | (4) | 0 | |
Reconciliation of changes in fair value measurement, liabilities [abstract] | ||||
– exchange differences | (10) | 10 | (2) | |
Changes in FV due to refinement in application of levelling methodology | 1,200 | 1,200 | ||
Trading assets | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, assets [abstract] | ||||
Financial assets, beginning balance | 254,271 | |||
Financial assets, ending balance | 208,964 | 254,271 | 254,271 | |
Trading assets | Level 3 | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, assets [abstract] | ||||
Financial assets, beginning balance | 4,979 | 5,673 | 6,759 | 6,759 |
Total gains/(losses) recognised in profit or loss | (541) | (110) | (2) | |
Total gains/(losses) recognised in other comprehensive income (‘OCI’) | (171) | 94 | (18) | |
– financial investments: fair value gains/(losses) | 0 | 0 | 0 | |
– exchange differences | (171) | 94 | (18) | |
Purchases | 199 | 1,061 | 1,145 | |
New issuances | 0 | 0 | 154 | |
Sales | (577) | (408) | (487) | |
Settlements | 22 | 416 | 1,691 | |
Transfers out | (797) | (1,149) | (409) | |
Transfers in | 795 | 234 | 222 | |
Financial assets, ending balance | 3,865 | 4,979 | 5,673 | 4,979 |
Unrealised gains/(losses) recognised in profit or loss relating to assets held | (7) | (22) | 2 | |
Reconciliation of changes in fair value measurement, liabilities [abstract] | ||||
– exchange differences | (171) | 94 | (18) | |
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 | 43,627 | |||
Financial assets, ending balance | 41,785 | 43,627 | 43,627 | |
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 | 9,476 | 8,245 | 7,080 | 7,080 |
Total gains/(losses) recognised in profit or loss | (106) | 391 | 196 | |
Total gains/(losses) recognised in other comprehensive income (‘OCI’) | (4) | (10) | 6 | |
– financial investments: fair value gains/(losses) | 0 | 0 | 0 | |
– exchange differences | (4) | (10) | 6 | |
Purchases | 1,594 | 1,292 | 1,214 | |
New issuances | 0 | 0 | 0 | |
Sales | (424) | (189) | (87) | |
Settlements | 170 | 250 | 184 | |
Transfers out | (63) | (3) | (20) | |
Transfers in | 101 | 0 | 40 | |
Financial assets, ending balance | 10,404 | 9,476 | 8,245 | 9,476 |
Unrealised gains/(losses) recognised in profit or loss relating to assets held | (140) | 465 | 67 | |
Reconciliation of changes in fair value measurement, liabilities [abstract] | ||||
– exchange differences | (4) | (10) | 6 | |
Changes in FV due to refinement in application of levelling methodology | 2,900 | 2,900 | ||
Designated and otherwise mandatorily measured at fair value through profit or loss | Designated at fair value | ||||
Reconciliation of changes in fair value measurement, liabilities [abstract] | ||||
Changes in FV due to refinement in application of levelling methodology | 86 | 86 | ||
Derivatives | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, assets [abstract] | ||||
Financial assets, beginning balance | 242,995 | |||
Financial assets, ending balance | 313,781 | 242,995 | 242,995 | |
Derivatives | Level 3 | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, assets [abstract] | ||||
Financial assets, beginning balance | 2,136 | 1,930 | 2,423 | 2,423 |
Total gains/(losses) recognised in profit or loss | 2,237 | 287 | (9) | |
Total gains/(losses) recognised in other comprehensive income (‘OCI’) | (147) | 55 | (6) | |
– financial investments: fair value gains/(losses) | 0 | 0 | 0 | |
– exchange differences | (147) | 55 | (6) | |
Purchases | 0 | 0 | 0 | |
New issuances | 0 | 0 | 0 | |
Sales | 0 | 0 | 0 | |
Settlements | 262 | 194 | 94 | |
Transfers out | (139) | (88) | (622) | |
Transfers in | 30 | 146 | 50 | |
Financial assets, ending balance | 3,855 | 2,136 | 1,930 | 2,136 |
Unrealised gains/(losses) recognised in profit or loss relating to assets held | 529 | 279 | 257 | |
Reconciliation of changes in fair value measurement, liabilities [abstract] | ||||
– exchange differences | (147) | 55 | (6) | |
Net income from financial instruments held for trading or managed on a fair value basis | Trading liabilities | Level 3 | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, liabilities [abstract] | ||||
Total gains/(losses) recognised in profit or loss | 0 | 0 | (4) | |
Unrealised gains/(losses) recognised in profit or loss relating to liabilities held | (3) | 0 | (23) | |
Net income 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/(losses) 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 from financial instruments held for trading or managed on a fair value basis | Derivatives | Level 3 | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, liabilities [abstract] | ||||
Total gains/(losses) recognised in profit or loss | 2,105 | 339 | 591 | |
Unrealised gains/(losses) recognised in profit or loss relating to liabilities held | 1,104 | (407) | (320) | |
Net income from financial instruments held for trading or managed on a fair value basis | Financial investments | Level 3 | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, assets [abstract] | ||||
Total gains/(losses) recognised in profit or loss | 0 | 0 | 0 | |
Unrealised gains/(losses) recognised in profit or loss relating to assets held | 0 | 0 | 0 | |
Net income from financial instruments held for trading or managed on a fair value basis | Trading assets | Level 3 | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, assets [abstract] | ||||
Total gains/(losses) recognised in profit or loss | (541) | (110) | (2) | |
Unrealised gains/(losses) recognised in profit or loss relating to assets held | (7) | (22) | 2 | |
Net income 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/(losses) 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 from financial instruments held for trading or managed on a fair value basis | Derivatives | Level 3 | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, assets [abstract] | ||||
Total gains/(losses) recognised in profit or loss | 2,237 | 287 | (9) | |
Unrealised gains/(losses) recognised in profit or loss relating to assets held | 529 | 279 | 257 | |
Changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss | Trading liabilities | Level 3 | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, liabilities [abstract] | ||||
Total gains/(losses) recognised in profit or loss | 0 | 0 | 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/(losses) recognised in profit or loss | (117) | (51) | 246 | |
Unrealised gains/(losses) recognised in profit or loss relating to liabilities held | 100 | 57 | (7) | |
Changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss | Derivatives | Level 3 | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, liabilities [abstract] | ||||
Total gains/(losses) recognised in profit or loss | 0 | 0 | 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/(losses) 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/(losses) 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/(losses) recognised in profit or loss | (106) | 391 | 196 | |
Unrealised gains/(losses) recognised in profit or loss relating to assets held | (140) | 465 | 67 | |
Changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss | Derivatives | Level 3 | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, assets [abstract] | ||||
Total gains/(losses) recognised in profit or loss | 0 | 0 | 0 | |
Unrealised gains/(losses) recognised in profit or loss relating to assets held | 0 | 0 | $ 0 | |
Gains less losses from financial investments at fair value through other comprehensive income | Trading liabilities | Level 3 | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, liabilities [abstract] | ||||
Total gains/(losses) recognised in profit or loss | 0 | 0 | ||
Gains less losses from financial investments at fair value through other comprehensive income | Designated at fair value | Level 3 | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, liabilities [abstract] | ||||
Total gains/(losses) recognised in profit or loss | 0 | 0 | ||
Gains less losses from financial investments at fair value through other comprehensive income | Derivatives | Level 3 | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, liabilities [abstract] | ||||
Total gains/(losses) recognised in profit or loss | 0 | 0 | ||
Gains less losses from financial investments at fair value through other comprehensive income | Financial investments | Level 3 | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, assets [abstract] | ||||
Total gains/(losses) recognised in profit or loss | (13) | 10 | ||
Gains less losses from financial investments at fair value through other comprehensive income | Trading assets | Level 3 | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, assets [abstract] | ||||
Total gains/(losses) recognised in profit or loss | 0 | 0 | ||
Gains less losses from financial investments at fair value through other comprehensive income | Designated and otherwise mandatorily measured at fair value through profit or loss | Level 3 | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, assets [abstract] | ||||
Total gains/(losses) recognised in profit or loss | 0 | 0 | ||
Gains less losses from financial investments at fair value through other comprehensive income | Derivatives | Level 3 | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, assets [abstract] | ||||
Total gains/(losses) recognised in profit or loss | 0 | 0 | ||
Expected credit loss charges and other credit risk charges | Trading liabilities | Level 3 | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, liabilities [abstract] | ||||
Total gains/(losses) recognised in profit or loss | 0 | |||
Expected credit loss charges and other credit risk charges | Designated at fair value | Level 3 | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, liabilities [abstract] | ||||
Total gains/(losses) recognised in profit or loss | 0 | |||
Expected credit loss charges and other credit risk charges | Derivatives | Level 3 | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, liabilities [abstract] | ||||
Total gains/(losses) recognised in profit or loss | 0 | |||
Expected credit loss charges and other credit risk charges | Financial investments | Level 3 | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, assets [abstract] | ||||
Total gains/(losses) recognised in profit or loss | (4) | |||
Expected credit loss charges and other credit risk charges | Trading assets | Level 3 | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, assets [abstract] | ||||
Total gains/(losses) recognised in profit or loss | 0 | |||
Expected credit loss charges and other credit risk charges | Designated and otherwise mandatorily measured at fair value through profit or loss | Level 3 | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, assets [abstract] | ||||
Total gains/(losses) recognised in profit or loss | 0 | |||
Expected credit loss charges and other credit risk charges | Derivatives | Level 3 | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, assets [abstract] | ||||
Total gains/(losses) recognised in profit or loss | 0 | |||
Loan impairment recoveries and other credit risk provisions | Trading liabilities | Level 3 | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, liabilities [abstract] | ||||
Unrealised gains/(losses) recognised in profit or loss relating to liabilities held | 0 | |||
Loan impairment recoveries and other credit risk provisions | Designated at fair value | Level 3 | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, liabilities [abstract] | ||||
Unrealised gains/(losses) recognised in profit or loss relating to liabilities held | 0 | |||
Loan impairment recoveries and other credit risk provisions | Derivatives | Level 3 | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, liabilities [abstract] | ||||
Unrealised gains/(losses) recognised in profit or loss relating to liabilities held | 0 | |||
Loan impairment recoveries and other credit risk provisions | Financial investments | Level 3 | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, assets [abstract] | ||||
Unrealised gains/(losses) recognised in profit or loss relating to assets held | (4) | |||
Loan impairment recoveries and other credit risk provisions | Trading assets | Level 3 | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, assets [abstract] | ||||
Unrealised gains/(losses) recognised in profit or loss relating to assets held | 0 | |||
Loan impairment recoveries and other credit risk provisions | Designated and otherwise mandatorily measured at fair value through profit or loss | Level 3 | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, assets [abstract] | ||||
Unrealised gains/(losses) recognised in profit or loss relating to assets held | 0 | |||
Loan impairment recoveries and other credit risk provisions | Derivatives | Level 3 | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, assets [abstract] | ||||
Unrealised gains/(losses) recognised in profit or loss relating to assets held | 0 | |||
Private equity including strategic investments | Level 3 | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, assets [abstract] | ||||
Financial assets, beginning balance | 9,551 | |||
Financial assets, ending balance | 10,448 | 9,551 | 9,551 | |
Reconciliation of changes in fair value measurement, liabilities [abstract] | ||||
Changes in FV due to refinement in application of levelling methodology | 1,500 | 1,500 | ||
Private equity including strategic investments | Financial investments | Level 3 | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, assets [abstract] | ||||
Financial assets, beginning balance | 716 | |||
Financial assets, ending balance | 689 | 716 | 716 | |
Private equity including strategic investments | Trading assets | Level 3 | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, assets [abstract] | ||||
Financial assets, beginning balance | 4 | |||
Financial assets, ending balance | 3 | 4 | 4 | |
Private equity including strategic investments | 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 | 8,831 | |||
Financial assets, ending balance | 9,756 | 8,831 | 8,831 | |
Reconciliation of changes in fair value measurement, liabilities [abstract] | ||||
Changes in FV due to refinement in application of levelling methodology | 1,700 | 1,700 | ||
Private equity including strategic investments | Derivatives | Level 3 | Recurring fair value measurement | ||||
Reconciliation of changes in fair value measurement, assets [abstract] | ||||
Financial assets, beginning balance | 0 | |||
Financial assets, ending balance | $ 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) - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2020 | Dec. 31, 2019 | Jun. 30, 2019 | |
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Favourable changes reflected in profit or loss | $ 924 | $ 921 | $ 886 |
Unfavourable changes reflected in profit or loss | (921) | (786) | (788) |
Favourable changes recognized in OCI | 101 | 81 | 74 |
Unfavourable changes recognized in OCI | $ (104) | (81) | (74) |
Confidence level | 95.00% | ||
Derivatives, trading assets | Derivatives, trading liabilities | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Favourable changes reflected in profit or loss | $ 271 | 255 | 298 |
Unfavourable changes reflected in profit or loss | (268) | (230) | (303) |
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 | 625 | 618 | 545 |
Unfavourable changes reflected in profit or loss | (625) | (503) | (439) |
Favourable changes recognized in OCI | 0 | 0 | 0 |
Unfavourable changes recognized in OCI | 0 | 0 | 0 |
Changes in FV due to refinement in application of levelling methodology | 86 | ||
Financial investments | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Favourable changes reflected in profit or loss | 28 | 48 | 43 |
Unfavourable changes reflected in profit or loss | (28) | (53) | (46) |
Favourable changes recognized in OCI | 101 | 81 | 74 |
Unfavourable changes recognized in OCI | $ (104) | (81) | $ (74) |
Changes in FV due to refinement in application of levelling methodology | $ 59 |
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, 2020USD ($) | Dec. 31, 2019USD ($) | Jun. 30, 2019USD ($) | Dec. 31, 2018USD ($) |
Level 3 | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | $ 21,463 | $ 19,809 | ||
Financial liabilities | 8,838 | 7,371 | ||
Changes in FV due to refinement in application of levelling methodology | 2,900 | |||
Level 3 | Private equity including strategic investments | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 3 | 4 | ||
Level 3 | Structured notes | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 5,039 | 5,063 | ||
Level 3 | – equity-linked notes one | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 3,988 | 3,768 | ||
Level 3 | – FX-linked notes | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 579 | 1,046 | ||
Level 3 | – other | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 472 | 249 | ||
Level 3 | Other derivatives | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 3,717 | 2,302 | ||
Level 3 | Other portfolios | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 79 | 2 | ||
Level 3 | – other | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 16 | 2 | ||
Level 3 | Private equity including strategic investments | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 10,448 | 9,551 | ||
Changes in FV due to refinement in application of levelling methodology | 1,500 | |||
Level 3 | Asset-backed securities | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 1,867 | 1,836 | ||
Level 3 | – CLO/CDO | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 113 | 373 | ||
Level 3 | – other ABSs | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 1,754 | 1,463 | ||
Level 3 | Loans held for securitisation | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 1 | 40 | ||
Level 3 | Structured notes | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 3 | 3 | ||
Level 3 | – other | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 3 | 3 | ||
Level 3 | Derivatives with monolines | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 75 | 66 | ||
Level 3 | Other derivatives | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 3,771 | 2,070 | ||
Level 3 | Other portfolios | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 5,298 | 6,243 | ||
Changes in FV due to refinement in application of levelling methodology | 1,400 | |||
Level 3 | – structured certificates | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 1,488 | 1,515 | ||
Level 3 | – repurchase agreements | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 778 | 1,604 | ||
Financial liabilities | 63 | |||
Level 3 | – other | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 3,032 | 3,124 | ||
Level 3 | Interest rate | securitisation swaps | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 869 | 640 | ||
Level 3 | Interest rate | long-dated swaptions | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 735 | 51 | ||
Level 3 | Interest rate | other | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 335 | 155 | ||
Level 3 | Interest rate | securitisation swaps | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 283 | 314 | ||
Level 3 | Interest rate | long-dated swaptions | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 1,778 | 838 | ||
Level 3 | Interest rate | other | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 412 | 255 | ||
Level 3 | Foreign exchange | other | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 139 | 104 | ||
Level 3 | Foreign exchange | FX options | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 191 | 218 | ||
Level 3 | Foreign exchange | other | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 142 | 119 | ||
Level 3 | Foreign exchange | FX options | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 109 | 93 | ||
Level 3 | Equities | other | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 551 | 712 | ||
Level 3 | Equities | long-dated single stock options | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 821 | 293 | ||
Level 3 | Equities | other | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 192 | 78 | ||
Level 3 | Equities | long-dated single stock options | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 750 | 230 | ||
Level 3 | Credit | other | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial liabilities | 76 | 129 | ||
Level 3 | Credit | other | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | $ 105 | $ 143 | ||
Prepayment rate | Market proxy | Bottom of range | – CLO/CDO | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Significant unobservable input, assets, percentage | 0 | 0 | ||
Prepayment rate | Market proxy | Top of range | – CLO/CDO | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Significant unobservable input, assets, percentage | 0.09 | 0.09 | ||
Prepayment rate | Model – Discounted cash flow | Bottom of range | Interest rate | securitisation swaps | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Significant unobservable input, liabilities, percentage | 0.06 | 0.06 | ||
Prepayment rate | Model – Discounted cash flow | Bottom of range | Interest rate | securitisation swaps | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Significant unobservable input, assets, percentage | 0.06 | 0.06 | ||
Prepayment rate | Model – Discounted cash flow | Top of range | Interest rate | securitisation swaps | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Significant unobservable input, liabilities, percentage | 0.07 | 0.07 | ||
Prepayment rate | Model – Discounted cash flow | Top of range | Interest rate | securitisation swaps | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Significant unobservable input, assets, percentage | 0.07 | 0.07 | ||
Bid quotes | Market proxy | Bottom of range | – CLO/CDO | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Significant unobservable input, assets, percentage | 0 | 0 | ||
Bid quotes | Market proxy | Bottom of range | – other ABSs | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Significant unobservable input, assets, percentage | 0 | 0 | ||
Bid quotes | Market proxy | Top of range | – CLO/CDO | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Significant unobservable input, assets, percentage | 99 | 100 | ||
Bid quotes | Market proxy | Top of range | – other ABSs | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Significant unobservable input, assets, percentage | 100 | 101 | ||
Equity volatility | Model – Option model | Bottom of range | – equity-linked notes one | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Significant unobservable input, liabilities, percentage | 0.06 | 0.05 | ||
Equity volatility | Model – Option model | Bottom of range | Equities | long-dated single stock options | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Significant unobservable input, liabilities, percentage | 0 | 0 | ||
Equity volatility | Model – Option model | Bottom of range | Equities | long-dated single stock options | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Significant unobservable input, assets, percentage | 0 | 0 | ||
Equity volatility | Model – Option model | Top of range | – equity-linked notes one | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Significant unobservable input, liabilities, percentage | 1.61 | 0.90 | ||
Equity volatility | Model – Option model | Top of range | Equities | long-dated single stock options | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Significant unobservable input, liabilities, percentage | 1.31 | 0.89 | ||
Equity volatility | Model – Option model | Top of range | Equities | long-dated single stock options | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Significant unobservable input, assets, percentage | 1.31 | 0.89 | ||
Equity correlation | Model – Option model | Bottom of range | – equity-linked notes two | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Significant unobservable input, liabilities, percentage | 0.22 | 0.09 | ||
Equity correlation | Model – Option model | Top of range | – equity-linked notes two | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Significant unobservable input, liabilities, percentage | 0.92 | 0.93 | ||
FX volatility | Model – Option model | Bottom of range | – FX-linked notes | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Significant unobservable input, liabilities, percentage | 0.01 | 0.01 | ||
FX volatility | Model – Option model | Bottom of range | Foreign exchange | FX options | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Significant unobservable input, liabilities, percentage | 0.01 | 0.01 | ||
FX volatility | Model – Option model | Bottom of range | 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 | Top of range | – FX-linked notes | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Significant unobservable input, liabilities, percentage | 0.34 | 0.23 | ||
FX volatility | Model – Option model | Top of range | Foreign exchange | FX options | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Significant unobservable input, liabilities, percentage | 0.49 | 0.25 | ||
FX volatility | Model – Option model | Top of range | Foreign exchange | FX options | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Significant unobservable input, assets, percentage | 0.49 | 0.25 | ||
Credit spread | Model – Discounted cash flow | Bottom of range | Derivatives with monolines | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Significant unobservable input, assets, percentage | 0.016 | 0.004 | ||
Credit spread | Model – Discounted cash flow | Top of range | Derivatives with monolines | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Significant unobservable input, assets, percentage | 0.021 | 0.02 | ||
IR volatility | Model – Option model | Bottom of range | Interest rate | long-dated swaptions | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Significant unobservable input, liabilities, percentage | 0.07 | 0.08 | ||
IR volatility | Model – Option model | Bottom of range | Interest rate | long-dated swaptions | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Significant unobservable input, assets, percentage | 0.07 | 0.08 | ||
IR volatility | Model – Option model | Top of range | Interest rate | long-dated swaptions | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Significant unobservable input, liabilities, percentage | 0.33 | 0.22 | ||
IR volatility | Model – Option model | Top of range | Interest rate | long-dated swaptions | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Significant unobservable input, assets, percentage | 0.33 | 0.22 | ||
Credit volatility | Model – Discounted cash flow | Bottom of range | – structured certificates | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Significant unobservable input, assets, percentage | 0.11 | 0.04 | ||
Credit volatility | Model – Discounted cash flow | Top of range | – structured certificates | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Significant unobservable input, assets, percentage | 0.11 | 0.04 | ||
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 | $ 41,785 | $ 43,627 | ||
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 | 10,404 | 9,476 | $ 8,245 | $ 7,080 |
Changes in FV due to refinement in application of levelling methodology | 2,900 | |||
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Level 3 | Private equity including strategic investments | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 9,756 | 8,831 | ||
Changes in FV due to refinement in application of levelling methodology | 1,700 | |||
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Level 3 | Asset-backed securities | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 98 | 28 | ||
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Level 3 | Loans held for securitisation | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | 0 | 39 | ||
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Level 3 | Derivatives with monolines | ||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||||
Financial assets | $ 0 | $ 0 |
Fair values of financial ins_12
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, 2020 | Dec. 31, 2019 |
Deposits by banks | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | $ 82,715 | $ 59,022 |
Deposits by banks | Fair value | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 82,718 | 58,951 |
Customer accounts | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 1,532,380 | 1,439,115 |
Customer accounts | Fair value | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 1,533,284 | 1,439,512 |
Repurchase agreements – non-trading | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 112,799 | 140,344 |
Repurchase agreements – non-trading | Fair value | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 112,803 | 140,344 |
Debt securities in issue | At cost | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 110,114 | 104,555 |
Debt securities in issue | Fair value | At cost | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 110,474 | 104,936 |
Subordinated liabilities | At cost | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 23,621 | 24,600 |
Subordinated liabilities | Fair value | At cost | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 26,599 | 29,246 |
Loans and advances to banks | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 77,015 | 69,203 |
Loans and advances to banks | Fair value | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 77,122 | 69,247 |
Loans and advances to customers | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 1,018,681 | 1,036,743 |
Loans and advances to customers | Fair value | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 1,018,036 | 1,037,543 |
Repurchase agreements – non-trading | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 226,345 | 240,862 |
Repurchase agreements – non-trading | Fair value | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 226,402 | 240,906 |
Financial investments – at amortised cost | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 89,781 | 85,735 |
Financial investments – at amortised cost | Fair value | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | $ 96,434 | $ 89,061 |
Derivatives - Notional contrac
Derivatives - Notional contract amounts and fair value of derivatives by product contract type held by HSBC (Details) number in Millions, $ in Millions | Jun. 30, 2020USD ($) | Dec. 31, 2019USD ($) |
Disclosure of detailed information about hedging instruments [line items] | ||
Notional contract amount of trading instruments | $ 26,086,676 | $ 27,619,214 |
Notional contract amount of hedging instruments | 201,995 | 208,905 |
Fair value of trading assets | $ 392,003 | $ 283,071 |
Fair value of hedging assets | 2,888 | 1,663 |
Gross total fair values of derivative assets | 394,891 | 284,734 |
Fair value of derivative assets | 313,781 | 242,995 |
Fair value of trading liabilities | 379,890 | 278,465 |
Fair value of hedging liabilities | 4,279 | 2,771 |
Gross total fair values of derivative liabilities | 384,169 | 281,236 |
Fair value of derivative liabilities | 303,059 | 239,497 |
Derivatives | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Amounts offset on derivative liabilities | (81,110) | (41,739) |
Derivatives | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Amounts offset on derivative assets | (81,110) | (41,739) |
Foreign exchange | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional contract amount of trading instruments | $ 7,383,599 | $ 8,207,629 |
Notional contract amount of hedging instruments | 36,888 | 31,899 |
Fair value of trading assets | $ 83,704 | $ 84,083 |
Fair value of hedging assets | 366 | 455 |
Gross total fair values of derivative assets | 84,070 | 84,538 |
Fair value of trading liabilities | 84,600 | 84,498 |
Fair value of hedging liabilities | 729 | 740 |
Gross total fair values of derivative liabilities | 85,329 | 85,238 |
Interest rate | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional contract amount of trading instruments | $ 17,590,866 | $ 17,895,349 |
Notional contract amount of hedging instruments | 165,107 | 177,006 |
Fair value of trading assets | $ 291,177 | $ 183,668 |
Fair value of hedging assets | 2,522 | 1,208 |
Gross total fair values of derivative assets | 293,699 | 184,876 |
Fair value of trading liabilities | 274,938 | 175,095 |
Fair value of hedging liabilities | 3,550 | 2,031 |
Gross total fair values of derivative liabilities | 278,488 | 177,126 |
Equities | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional contract amount of trading instruments | $ 648,250 | $ 1,077,347 |
Notional contract amount of hedging instruments | 0 | 0 |
Fair value of trading assets | $ 10,697 | $ 9,053 |
Fair value of hedging assets | 0 | 0 |
Gross total fair values of derivative assets | 10,697 | 9,053 |
Fair value of trading liabilities | 11,836 | 11,237 |
Fair value of hedging liabilities | 0 | 0 |
Gross total fair values of derivative liabilities | 11,836 | 11,237 |
Credit | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional contract amount of trading instruments | $ 329,551 | $ 345,644 |
Notional contract amount of hedging instruments | 0 | 0 |
Fair value of trading assets | $ 3,661 | $ 4,744 |
Fair value of hedging assets | 0 | 0 |
Gross total fair values of derivative assets | 3,661 | 4,744 |
Fair value of trading liabilities | 5,000 | 5,597 |
Fair value of hedging liabilities | 0 | 0 |
Gross total fair values of derivative liabilities | 5,000 | 5,597 |
Commodity and other | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional contract amount of trading instruments | $ 134,410 | $ 93,245 |
Notional contract amount of hedging instruments | 0 | 0 |
Fair value of trading assets | $ 2,764 | $ 1,523 |
Fair value of hedging assets | 0 | 0 |
Gross total fair values of derivative assets | 2,764 | 1,523 |
Fair value of trading liabilities | 3,516 | 2,038 |
Fair value of hedging liabilities | 0 | 0 |
Gross total fair values of derivative liabilities | $ 3,516 | $ 2,038 |
Derivatives - Unamortised bala
Derivatives - Unamortised balance of derivatives valued using models with significant unobservable inputs (Details) - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2020 | Dec. 31, 2019 | Jun. 30, 2019 | |
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 | $ 73 | $ 99 | $ 86 |
Deferral on new transactions | 106 | 55 | 90 |
Recognised in the income statement during the period | (87) | (76) | (78) |
– amortisation | (51) | (44) | (36) |
– subsequent to unobservable inputs becoming observable | (1) | 3 | (6) |
– maturity, termination or offsetting derivative | (35) | (35) | (36) |
Exchange differences | (3) | 1 | 0 |
Other | 0 | (6) | 1 |
Unamortised balance at end of period | $ 89 | $ 73 | $ 99 |
Derivatives - Notional contr_2
Derivatives - Notional contract amounts and fair values of derivatives by product type (Details) number in Millions | Jun. 30, 2020 | Dec. 31, 2019 |
Disclosure of detailed information about hedging instruments [line items] | ||
Notional | 201,995 | 208,905 |
Cash flow hedges | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional | 65,964 | 75,638 |
Fair value hedges | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional | 125,531 | 122,767 |
Hedges of net investment in foreign operations | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional | 10,500 | 10,500 |
Foreign exchange | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional | 36,888 | 31,899 |
Foreign exchange | Cash flow hedges | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional | 26,374 | 21,385 |
Foreign exchange | Fair value hedges | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional | 14 | 14 |
Interest rate | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional | 165,107 | 177,006 |
Interest rate | Cash flow hedges | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional | 39,590 | 54,253 |
Interest rate | Fair value hedges | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional | 125,517 | 122,753 |
Financial investments - Carryin
Financial investments - Carrying amount of financial investments (Details) - USD ($) $ in Millions | Jun. 30, 2020 | Dec. 31, 2019 |
Financial investments measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 404,328 | $ 357,577 |
Financial investments measured at fair value through other comprehensive income | Treasury and other eligible bills | ||
Disclosure of financial assets [line items] | ||
Financial assets | 130,389 | 95,043 |
Financial investments measured at fair value through other comprehensive income | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 271,859 | 260,536 |
Financial investments measured at fair value through other comprehensive income | Equity securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,997 | 1,913 |
Financial investments measured at fair value through other comprehensive income | Other instruments | ||
Disclosure of financial assets [line items] | ||
Financial assets | 83 | 85 |
Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | 89,781 | 85,735 |
Debt instruments measured at amortised cost | Treasury and other eligible bills | ||
Disclosure of financial assets [line items] | ||
Financial assets | 12,192 | 10,476 |
Debt instruments measured at amortised cost | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 77,589 | 75,259 |
Financial investments | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 494,109 | $ 443,312 |
Interests in associates and j_3
Interests in associates and joint ventures - Associates and Joint Ventures Commentary (Details) - USD ($) | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Dec. 31, 2019 | |
Disclosure of associates [line items] | |||
Interests in associates and joint ventures | $ 24,800,000,000 | $ 24,474,000,000 | |
Bank of Communications Co., Limited | |||
Disclosure of associates [line items] | |||
Investment's fair value below carrying amount, period | 8 years | ||
Impairment loss | $ 0 | ||
The Saudi British Bank | |||
Disclosure of associates [line items] | |||
Proportion of ownership interest in associate | 29.20% | 40.00% | |
Impairment loss | $ 0 |
Interests in associates and j_4
Interests in associates and joint ventures - Principal associates of HSBC (Details) - USD ($) $ in Millions | Jun. 30, 2020 | Dec. 31, 2019 |
Bank of Communications Co., Limited | ||
Disclosure of associates [line items] | ||
Carrying amount | $ 19,630 | $ 18,982 |
Fair value | 8,718 | 10,054 |
The Saudi British Bank | ||
Disclosure of associates [line items] | ||
Carrying amount | 4,139 | 4,370 |
Fair value | $ 3,644 | $ 5,550 |
Interests in associates and j_5
Interests in associates and joint ventures - Impairment testing (Details) - USD ($) | 6 Months Ended | |
Jun. 30, 2020 | Dec. 31, 2019 | |
BoCom | ||
Disclosure of associates [line items] | ||
VIU | $ 20,500,000,000 | $ 21,500,000,000 |
Carrying value | 19,630,000,000 | 18,982,000,000 |
Fair value | 8,718,000,000 | 10,054,000,000 |
Impairment loss | 0 | |
The Saudi British Bank | ||
Disclosure of associates [line items] | ||
Carrying value | 4,139,000,000 | 4,370,000,000 |
Fair value | 3,644,000,000 | $ 5,550,000,000 |
Impairment loss | $ 0 |
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, 2020 | Dec. 31, 2019 | |
Bank of Communications Co., Limited | ||
Disclosure of associates [line items] | ||
Long-term profit growth rate | 3.00% | 3.00% |
Long-term asset growth rate | 3.00% | 3.00% |
Discount rate | 11.24% | 11.24% |
Expected credit losses as a percentage of customer advances in the long term | 0.76% | 0.76% |
Risk-weighted assets as a percentage of total assets | 61.00% | |
Effective tax rate in the long-term | 22.50% | 22.50% |
Capital adequacy ratio | 11.50% | 11.50% |
Tier 1 capital adequacy ratio | 9.50% | 9.50% |
Bank of Communications Co., Limited | Bottom of range | ||
Disclosure of associates [line items] | ||
Discount rate | 10.30% | 10.00% |
Expected credit losses as a percentage of customer advances in the short to medium term | 0.95% | 0.95% |
Risk-weighted assets as a percentage of total assets | 61.00% | |
Operating Income Ratio | 1.30% | 4.90% |
Cost-income ratio | 36.20% | 37.10% |
Effective tax rate in the short to medium-term | 11.00% | 12.00% |
Bank of Communications Co., Limited | Top of range | ||
Disclosure of associates [line items] | ||
Discount rate | 15.00% | 15.00% |
Expected credit losses as a percentage of customer advances in the short to medium term | 1.10% | |
Risk-weighted assets as a percentage of total assets | 62.00% | |
Operating Income Ratio | 6.20% | 9.40% |
Cost-income ratio | 36.60% | 38.80% |
Effective tax rate in the short to medium-term | 17.90% | 17.00% |
The Saudi British Bank | ||
Disclosure of associates [line items] | ||
Long-term profit growth rate | 2.55% | |
Long-term asset growth rate | 2.55% | |
Discount rate | 10.20% | |
Long-term profit growth rate | Bank of Communications Co., Limited | ||
Disclosure of associates [line items] | ||
Changes to key assumption to reduce headroom to nil | (0.36%) | |
Long-term asset growth rate | Bank of Communications Co., Limited | ||
Disclosure of associates [line items] | ||
Changes to key assumption to reduce headroom to nil | 0.32% | |
Discount rate | Bank of Communications Co., Limited | ||
Disclosure of associates [line items] | ||
Changes to key assumption to reduce headroom to nil | 0.41% | |
Discount rate | The Saudi British Bank | ||
Disclosure of associates [line items] | ||
Increase (decrease) in key assumptions that would result in impairment loss | 0.50% | |
Expected credit losses as a percentage of customer advances | Bank of Communications Co., Limited | ||
Disclosure of associates [line items] | ||
Changes to key assumption to reduce headroom to nil | 0.06% | |
Risk-weighted assets as a percentage of total assets | Bank of Communications Co., Limited | ||
Disclosure of associates [line items] | ||
Changes to key assumption to reduce headroom to nil | 2.34% | |
Cost-income ratio | Bank of Communications Co., Limited | ||
Disclosure of associates [line items] | ||
Changes to key assumption to reduce headroom to nil | 1.39% | |
Long-term effective tax rate | Bank of Communications Co., Limited | ||
Disclosure of associates [line items] | ||
Changes to key assumption to reduce headroom to nil | 3.20% | |
Capital requirements – capital adequacy ratio | Bank of Communications Co., Limited | ||
Disclosure of associates [line items] | ||
Changes to key assumption to reduce headroom to nil | 0.44% | |
Capital requirements – tier 1 capital adequacy ratio | Bank of Communications Co., Limited | ||
Disclosure of associates [line items] | ||
Changes to key assumption to reduce headroom to nil | 1.37% | |
Cash flow projections | The Saudi British Bank | ||
Disclosure of associates [line items] | ||
Increase (decrease) in key assumptions that would result in impairment loss | 5.00% | |
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 | 61.00% | 61.00% |
Interests in associates and j_7
Interests in associates and joint ventures - Sensitivity of VIU (Details) - USD ($) | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Dec. 31, 2019 | |
Bank of Communications Co., Limited | |||
Disclosure of associates [line items] | |||
Fair value of investments in associates for which there are quoted market prices | $ 8,718,000,000 | $ 10,054,000,000 | |
Carrying amount | $ 19,630,000,000 | $ 18,982,000,000 | |
Long-term profit growth rate | 3.00% | 3.00% | |
Long-term asset growth rate | 3.00% | 3.00% | |
Discount rate used in current estimate of value in use | 11.24% | 11.24% | |
Impairment loss | $ 0 | ||
Bank of Communications Co., Limited | Bottom of range | |||
Disclosure of associates [line items] | |||
Value in use of investments in associates after reasonably possible changes in key assumptions | $ 17,300,000,000 | $ 18,500,000,000 | |
Discount rate used in current estimate of value in use | 10.30% | 10.00% | |
Bank of Communications Co., Limited | Top of range | |||
Disclosure of associates [line items] | |||
Value in use of investments in associates after reasonably possible changes in key assumptions | $ 21,900,000,000 | $ 22,800,000,000 | |
Discount rate used in current estimate of value in use | 15.00% | 15.00% | |
Bank of Communications Co., Limited | Long-term profit growth rate | |||
Disclosure of associates [line items] | |||
Changes to key assumption to reduce headroom to nil | (0.36%) | ||
Change in bps due to reasonably possible favourable changes in key assumptions | 0.00% | 0.00% | |
Change in VIU due to reasonably possible favourable changes in key assumptions | $ 0 | $ 0 | |
VIU after reasonably possible favourable changes in key assumptions | $ 20,500,000,000 | $ 21,500,000,000 | |
Change in bps due to reasonably possible unfavourable changes in key assumptions | (0.50%) | (0.50%) | |
Change in VIU due to reasonably possible unfavourable changes in key assumptions | $ (1,200,000,000) | $ (1,300,000,000) | |
VIU after reasonably possible unfavourable changes in key assumptions | $ 19,300,000,000 | $ 20,200,000,000 | |
Bank of Communications Co., Limited | Long-term asset growth rate | |||
Disclosure of associates [line items] | |||
Changes to key assumption to reduce headroom to nil | 0.32% | ||
Change in bps due to reasonably possible favourable changes in key assumptions | (0.50%) | (0.50%) | |
Change in VIU due to reasonably possible favourable changes in key assumptions | $ 1,300,000,000 | $ 1,400,000,000 | |
VIU after reasonably possible favourable changes in key assumptions | $ 21,800,000,000 | $ 22,900,000,000 | |
Change in bps due to reasonably possible unfavourable changes in key assumptions | 0.00% | 0.00% | |
Change in VIU due to reasonably possible unfavourable changes in key assumptions | $ 0 | $ 0 | |
VIU after reasonably possible unfavourable changes in key assumptions | $ 20,500,000,000 | $ 21,500,000,000 | |
Bank of Communications Co., Limited | Discount rate | |||
Disclosure of associates [line items] | |||
Changes to key assumption to reduce headroom to nil | 0.41% | ||
Change in bps due to reasonably possible favourable changes in key assumptions | (0.24%) | (0.54%) | |
Change in VIU due to reasonably possible favourable changes in key assumptions | $ 600,000,000 | $ 1,400,000,000 | |
VIU after reasonably possible favourable changes in key assumptions | $ 21,100,000,000 | $ 22,900,000,000 | |
Change in bps due to reasonably possible unfavourable changes in key assumptions | 0.86% | 0.56% | |
Change in VIU due to reasonably possible unfavourable changes in key assumptions | $ (1,800,000,000) | $ (1,200,000,000) | |
VIU after reasonably possible unfavourable changes in key assumptions | $ 18,700,000,000 | 20,300,000,000 | |
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 | 0.06% | ||
Change in VIU due to reasonably possible favourable changes in key assumptions | $ 500,000,000 | 1,000,000,000 | |
VIU after reasonably possible favourable changes in key assumptions | 21,000,000,000 | 22,500,000,000 | |
Change in VIU due to reasonably possible unfavourable changes in key assumptions | (2,200,000,000) | (1,200,000,000) | |
VIU after reasonably possible unfavourable changes in key assumptions | $ 18,300,000,000 | $ 20,300,000,000 | |
Bank of Communications Co., Limited | Expected credit losses as a percentage of customer advances | Not later than four yyears | |||
Disclosure of associates [line items] | |||
Change in bps due to reasonably possible favourable changes in key assumptions | 0.93% | 0.90% | |
Change in bps due to reasonably possible unfavourable changes in key assumptions | 1.08% | 1.08% | |
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 | 0.75% | 0.70% | |
Change in bps due to reasonably possible unfavourable changes in key assumptions | 0.92% | 0.81% | |
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 | 2.34% | ||
Change in bps due to reasonably possible favourable changes in key assumptions | (1.90%) | (0.96%) | |
Change in VIU due to reasonably possible favourable changes in key assumptions | $ 500,000,000 | $ 400,000,000 | |
VIU after reasonably possible favourable changes in key assumptions | $ 21,000,000,000 | $ 21,900,000,000 | |
Change in bps due to reasonably possible unfavourable changes in key assumptions | 0.93% | 0.12% | |
Change in VIU due to reasonably possible unfavourable changes in key assumptions | $ (500,000,000) | $ 0 | |
VIU after reasonably possible unfavourable changes in key assumptions | $ 20,000,000,000 | $ 21,500,000,000 | |
Bank of Communications Co., Limited | Operating income | |||
Disclosure of associates [line items] | |||
Changes to key assumption to reduce headroom to nil | (0.62%) | ||
Change in bps due to reasonably possible favourable changes in key assumptions | 0.64% | 0.14% | |
Change in VIU due to reasonably possible favourable changes in key assumptions | $ 1,000,000,000 | $ 300,000,000 | |
VIU after reasonably possible favourable changes in key assumptions | $ 21,500,000,000 | $ 21,800,000,000 | |
Change in bps due to reasonably possible unfavourable changes in key assumptions | (0.69%) | (1.02%) | |
Change in VIU due to reasonably possible unfavourable changes in key assumptions | $ (900,000,000) | $ (1,800,000,000) | |
VIU after reasonably possible unfavourable changes in key assumptions | $ 19,600,000,000 | $ 19,700,000,000 | |
Bank of Communications Co., Limited | Cost-income ratio | |||
Disclosure of associates [line items] | |||
Changes to key assumption to reduce headroom to nil | 1.39% | ||
Change in bps due to reasonably possible favourable changes in key assumptions | (2.05%) | (1.75%) | |
Change in VIU due to reasonably possible favourable changes in key assumptions | $ 1,500,000,000 | $ 1,000,000,000 | |
VIU after reasonably possible favourable changes in key assumptions | $ 22,000,000,000 | $ 22,500,000,000 | |
Change in bps due to reasonably possible unfavourable changes in key assumptions | 1.79% | 0.95% | |
Change in VIU due to reasonably possible unfavourable changes in key assumptions | $ (1,300,000,000) | $ (1,200,000,000) | |
VIU after reasonably possible unfavourable changes in key assumptions | $ 19,200,000,000 | $ 20,300,000,000 | |
Bank of Communications Co., Limited | Long-term effective tax rate | |||
Disclosure of associates [line items] | |||
Changes to key assumption to reduce headroom to nil | 3.20% | ||
Change in bps due to reasonably possible favourable changes in key assumptions | (4.33%) | (3.52%) | |
Change in VIU due to reasonably possible favourable changes in key assumptions | $ 1,200,000,000 | $ 1,000,000,000 | |
VIU after reasonably possible favourable changes in key assumptions | $ 21,700,000,000 | $ 22,500,000,000 | |
Change in bps due to reasonably possible unfavourable changes in key assumptions | 2.50% | 2.50% | |
Change in VIU due to reasonably possible unfavourable changes in key assumptions | $ (700,000,000) | $ (700,000,000) | |
VIU after reasonably possible unfavourable changes in key assumptions | $ 19,800,000,000 | $ 20,800,000,000 | |
Bank of Communications Co., Limited | Capital requirements – capital adequacy ratio | |||
Disclosure of associates [line items] | |||
Changes to key assumption to reduce headroom to nil | 0.44% | ||
Change in bps due to reasonably possible favourable changes in key assumptions | 0.00% | 0.00% | |
Change in VIU due to reasonably possible favourable changes in key assumptions | $ 0 | $ 0 | |
VIU after reasonably possible favourable changes in key assumptions | $ 20,500,000,000 | $ 21,500,000,000 | |
Change in bps due to reasonably possible unfavourable changes in key assumptions | 2.66% | 3.37% | |
Change in VIU due to reasonably possible unfavourable changes in key assumptions | $ (6,000,000,000) | $ (8,200,000,000) | |
VIU after reasonably possible unfavourable changes in key assumptions | $ 14,500,000,000 | $ 13,300,000,000 | |
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 | 1.37% | ||
Change in bps due to reasonably possible favourable changes in key assumptions | 0.00% | 0.00% | |
Change in VIU due to reasonably possible favourable changes in key assumptions | $ 0 | $ 0 | |
VIU after reasonably possible favourable changes in key assumptions | $ 20,500,000,000 | $ 21,500,000,000 | |
Change in bps due to reasonably possible unfavourable changes in key assumptions | 2.89% | 3.22% | |
Change in VIU due to reasonably possible unfavourable changes in key assumptions | $ (4,500,000,000) | $ (6,000,000,000) | |
VIU after reasonably possible unfavourable changes in key assumptions | 16,000,000,000 | 15,500,000,000 | |
The Saudi British Bank | |||
Disclosure of associates [line items] | |||
Fair value of investments in associates for which there are quoted market prices | 3,644,000,000 | 5,550,000,000 | |
Carrying amount | $ 4,139,000,000 | $ 4,370,000,000 | |
Proportion of ownership interest in associate | 29.20% | 40.00% | |
Long-term profit growth rate | 2.55% | ||
Long-term asset growth rate | 2.55% | ||
Discount rate used in current estimate of value in use | 10.20% | ||
Impairment loss | $ 0 | ||
The Saudi British Bank | Discount rate | |||
Disclosure of associates [line items] | |||
Impairment loss | 100,000,000 | ||
The Saudi British Bank | Cash flow projections | |||
Disclosure of associates [line items] | |||
Impairment loss | $ 100,000,000 |
Goodwill and intangibles (Detai
Goodwill and intangibles (Details) - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2020 | Dec. 31, 2019 | Jun. 30, 2019 | |
Disclosure of detailed information about intangible assets [line items] | |||
Goodwill and intangible assets | $ 19,438 | $ 20,163 | |
Impairment | $ 41 | 7,349 | $ 0 |
Sensitivity Analysis, Possible Decrease In Cash Flow | 30.00% | ||
Sensitivity Analysis, Possible Increase In Discount Rate | 1.00% | ||
Goodwill | |||
Disclosure of detailed information about intangible assets [line items] | |||
Goodwill and intangible assets | $ 5,482 | 5,590 | |
Present value of in-force long-term insurance business | |||
Disclosure of detailed information about intangible assets [line items] | |||
Goodwill and intangible assets | 9,379 | 8,945 | |
Other intangible assets | |||
Disclosure of detailed information about intangible assets [line items] | |||
Goodwill and intangible assets | 4,577 | 5,628 | |
Internally generated software | |||
Disclosure of detailed information about intangible assets [line items] | |||
Goodwill and intangible assets | 3,861 | $ 4,829 | |
Subsidiaries | HSBC Bank plc | Internally generated software | |||
Disclosure of detailed information about intangible assets [line items] | |||
Impairment loss recognised in profit or loss, intangible assets and goodwill | 1,200 | ||
MENA | Wealth and Personal Banking | |||
Disclosure of detailed information about intangible assets [line items] | |||
Impairment | $ 41 | ||
Europe | Bottom of range | |||
Disclosure of detailed information about intangible assets [line items] | |||
Discount rate | 8.50% | ||
Europe | Top of range | |||
Disclosure of detailed information about intangible assets [line items] | |||
Discount rate | 9.70% |
Provisions - Rollforward of pro
Provisions - Rollforward of provisions (Details) $ in Millions | 6 Months Ended |
Jun. 30, 2020USD ($) | |
Reconciliation of changes in other provisions [abstract] | |
Other provisions, beginning balance | $ 3,398 |
Other provisions, ending balance | 3,209 |
Provisions (excluding contractual commitments) | |
Reconciliation of changes in other provisions [abstract] | |
Other provisions, beginning balance | 2,887 |
Additions | 307 |
Amounts utilised | (725) |
Unused amounts reversed | (149) |
Exchange and other movements | (140) |
Other provisions, ending balance | 2,180 |
Restructuring costs | |
Reconciliation of changes in other provisions [abstract] | |
Other provisions, beginning balance | 356 |
Additions | 103 |
Amounts utilised | (128) |
Unused amounts reversed | (38) |
Exchange and other movements | (58) |
Other provisions, ending balance | 235 |
Legal proceedings and regulatory matters | |
Reconciliation of changes in other provisions [abstract] | |
Other provisions, beginning balance | 605 |
Additions | 20 |
Amounts utilised | (70) |
Unused amounts reversed | (29) |
Exchange and other movements | (8) |
Other provisions, ending balance | 518 |
Customer remediation | |
Reconciliation of changes in other provisions [abstract] | |
Other provisions, beginning balance | 1,646 |
Additions | 75 |
Amounts utilised | (436) |
Unused amounts reversed | (38) |
Exchange and other movements | (99) |
Other provisions, ending balance | 1,148 |
Other provisions | |
Reconciliation of changes in other provisions [abstract] | |
Other provisions, beginning balance | 280 |
Additions | 109 |
Amounts utilised | (91) |
Unused amounts reversed | (44) |
Exchange and other movements | 25 |
Other provisions, ending balance | 279 |
Contractual commitments | |
Reconciliation of changes in other provisions [abstract] | |
Other provisions, beginning balance | 511 |
Net change in expected credit loss provision and other movements | 518 |
Other provisions, ending balance | $ 1,029 |
Provisions - Payment protection
Provisions - Payment protection insurance (Details) claim in Thousands, policy in Millions, $ in Millions | 6 Months Ended | ||
Jun. 30, 2020USD ($)complaintpolicyclaim | Dec. 31, 2019USD ($) | Jun. 30, 2019USD ($) | |
Disclosure of other provisions [line items] | |||
Provisions | $ 3,209 | $ 3,398 | |
Net insurance premium income | $ 5,020 | 4,313 | $ 6,323 |
Payment Protection Insurance | |||
Disclosure of other provisions [line items] | |||
Number of policies | policy | 3 | ||
Percent of policies sold | 56.00% | ||
Number of policies sold | policy | 5.4 | ||
Net insurance premium income | $ 3,200 | ||
Gross written premiums | $ 4,200 | ||
Number of complaints requiring assessment | complaint | 42,700 | ||
Number of expected future claims settled | claim | 43 | ||
Insurance Provision | |||
Disclosure of other provisions [line items] | |||
Provisions | $ 613 | $ 1,100 | |
Payments for other provisions | $ 376 | ||
Liability calculation, annual basis spread on simple interest rate | 8.00% |
Provisions - Sensitivity analys
Provisions - Sensitivity analysis of inbound and outbound claims (Details) $ in Millions | Jun. 30, 2020USD ($)claim |
Other Provisions, Contingent Liabilities And Contingent Assets [Abstract] | |
Reasonably possible increase in number of settled claims | 10,000 |
Reasonably possible decrease in number of settled claims | 10,000 |
Increase (decrease) in redress provision due to reasonably possible increase in settled claim volumes | $ | $ 16 |
Contingent liabilities, contr_3
Contingent liabilities, contractual commitments, and guarantees - Summary of Contingent Liabilities, Guarantees, and Commitments (Details) - USD ($) $ in Millions | Jun. 30, 2020 | Dec. 31, 2019 |
Disclosure of contingent liabilities [line items] | ||
Guarantees and other contingent liabilities | $ 92,500 | $ 97,723 |
Commitments | 838,073 | 797,608 |
– documentary credits and short-term trade-related transactions | ||
Disclosure of contingent liabilities [line items] | ||
Commitments | 6,201 | 6,316 |
– forward asset purchases and forward deposits placed | ||
Disclosure of contingent liabilities [line items] | ||
Commitments | 91,849 | 56,326 |
– standby facilities, credit lines and other commitments to lend | ||
Disclosure of contingent liabilities [line items] | ||
Commitments | 740,023 | 734,966 |
Loan and other credit-related commitments | IFRS 9 | ||
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 | 647,534 | 599,700 |
Loan and other credit-related commitments | IFRS 9 | Gross carrying 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 | 648,156 | 600,029 |
– financial guarantees | ||
Disclosure of contingent liabilities [line items] | ||
Guarantees and other contingent liabilities | 18,328 | 20,214 |
– performance and other guarantees | ||
Disclosure of contingent liabilities [line items] | ||
Guarantees and other contingent liabilities | 73,078 | 75,933 |
– other contingent liabilities | ||
Disclosure of contingent liabilities [line items] | ||
Guarantees and other contingent liabilities | $ 1,094 | $ 1,576 |
Legal proceedings and regulat_2
Legal proceedings and regulatory matters (Details) $ in Millions | 1 Months Ended | 2 Months Ended | 3 Months Ended | 5 Months Ended | 6 Months Ended | 12 Months Ended | 24 Months Ended | ||||||||||
Jun. 30, 2020USD ($)Investorcomplaintinstitution | Feb. 29, 2020individual | Oct. 31, 2019complaint | Sep. 30, 2019complaint | Mar. 31, 2019complaint | Sep. 30, 2018lawsuit | Jan. 31, 2018transaction | Dec. 31, 2016 | Apr. 30, 2016complaint | Aug. 31, 2016lawsuit | Mar. 31, 2019lawsuit | Nov. 30, 2015complaint | Jun. 30, 2020USD ($)complaintaction | Dec. 31, 2019USD ($)complaint | Dec. 31, 2012 | Dec. 31, 2018plaintiff | Nov. 30, 2008USD ($) | |
Disclosure of contingent liabilities [line items] | |||||||||||||||||
Estimated financial effect of contingent liabilities | $ | $ 92,500 | $ 92,500 | $ 97,723 | ||||||||||||||
Benchmark rate litigation | |||||||||||||||||
Disclosure of contingent liabilities [line items] | |||||||||||||||||
Infringement period | 1 month | ||||||||||||||||
Number of groups of plaintiffs | plaintiff | 5 | ||||||||||||||||
ICE Libor | |||||||||||||||||
Disclosure of contingent liabilities [line items] | |||||||||||||||||
Number of lawsuits/claims filed | lawsuit | 3 | ||||||||||||||||
Sibor, SOR, and BBSW | |||||||||||||||||
Disclosure of contingent liabilities [line items] | |||||||||||||||||
Number of lawsuits/claims filed | lawsuit | 2 | ||||||||||||||||
Foreign exchange rate investigations and litigation | |||||||||||||||||
Disclosure of contingent liabilities [line items] | |||||||||||||||||
Deferred prosecution agreement period | 3 years | ||||||||||||||||
Number of lawsuits/claims filed | lawsuit | 2 | ||||||||||||||||
Number of transactions | transaction | 2 | ||||||||||||||||
Number of financial institutions | institution | 28 | ||||||||||||||||
Precious metals fix-related investigations and litigation | |||||||||||||||||
Disclosure of contingent liabilities [line items] | |||||||||||||||||
Number of lawsuits/claims filed | 2 | ||||||||||||||||
Other regulatory investigations, reviews and litigation | |||||||||||||||||
Disclosure of contingent liabilities [line items] | |||||||||||||||||
Number of pending claims | action | 2 | ||||||||||||||||
Legal proceedings contingent liability | Madoff litigation | |||||||||||||||||
Disclosure of contingent liabilities [line items] | |||||||||||||||||
Estimated financial effect of contingent liabilities | $ | $ 500 | $ 500 | |||||||||||||||
Madoff Securities | |||||||||||||||||
Disclosure of contingent liabilities [line items] | |||||||||||||||||
Aggregate value of funds with assets invested in securities under litigation | $ | $ 8,400 | ||||||||||||||||
Estimated fund transfers, less withdrawals from securities under litigation | $ | $ 4,000 | ||||||||||||||||
HSBC Holdings | Fiduciary Duty Litigation [Member] | New York | |||||||||||||||||
Disclosure of contingent liabilities [line items] | |||||||||||||||||
Deferred prosecution agreement period | 5 years | ||||||||||||||||
HSBC Holdings | Anti-money laundering and sanctions-related matters | New York | |||||||||||||||||
Disclosure of contingent liabilities [line items] | |||||||||||||||||
Number of pending claims | 10 | ||||||||||||||||
Number of claims dismissed | 2 | 1 | 1 | 1 | 3 | ||||||||||||
Number of claims on appeal | 2 | ||||||||||||||||
Number of new pending claims with motions to dismiss | 3 | ||||||||||||||||
Number of remaining actions at a very early stage | 4 | ||||||||||||||||
HSBC Private Bank (UK) Limited | Film finance litigation | |||||||||||||||||
Disclosure of contingent liabilities [line items] | |||||||||||||||||
Number of groups of plaintiffs | 2 | 2 | |||||||||||||||
Number of new claims filed | 2 | 2 | |||||||||||||||
Number of claims served | 1 |
Report Of The Directors Finan_3
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, 2020 | Dec. 31, 2019 | Jun. 30, 2019 | Dec. 31, 2019 | |
Financial assets at amortised cost, category | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | $ 85,735 | |||
Financial assets, ending balance | 89,781 | $ 85,735 | $ 85,735 | |
Financial assets measured at fair value through other comprehensive income, category | IFRS 9 | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 351,725 | |||
Financial assets, ending balance | 393,607 | 351,725 | 351,725 | |
Other financial assets measured at amortised cost | Financial assets at amortised cost, category | IFRS 9 | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 615,061 | |||
Financial assets, ending balance | 751,629 | 615,061 | 615,061 | |
Debt securities | Financial assets at amortised cost, category | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 75,259 | |||
Financial assets, ending balance | 77,589 | 75,259 | 75,259 | |
12-month expected credit losses | Financial instruments not credit-impaired | Other financial assets measured at amortised cost | Financial assets at amortised cost, category | IFRS 9 | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 613,162 | |||
Financial assets, ending balance | 744,628 | 613,162 | 613,162 | |
12-month expected credit losses | Financial instruments not credit-impaired | Debt securities | Financial assets measured at fair value through other comprehensive income, category | IFRS 9 | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 350,876 | |||
Financial assets, ending balance | 388,668 | 350,876 | 350,876 | |
Lifetime expected credit losses | Financial instruments not credit-impaired | Other financial assets measured at amortised cost | Financial assets at amortised cost, category | IFRS 9 | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 1,789 | |||
Financial assets, ending balance | 6,852 | 1,789 | 1,789 | |
Lifetime expected credit losses | Financial instruments not credit-impaired | Debt securities | Financial assets measured at fair value through other comprehensive income, category | IFRS 9 | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 848 | |||
Financial assets, ending balance | 4,759 | 848 | 848 | |
Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Other financial assets measured at amortised cost | Financial assets at amortised cost, category | IFRS 9 | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 109 | |||
Financial assets, ending balance | 148 | 109 | 109 | |
Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Debt securities | Financial assets measured at fair value through other comprehensive income, category | IFRS 9 | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 0 | |||
Financial assets, ending balance | 180 | 0 | 0 | |
Lifetime expected credit losses | POCI | Other financial assets measured at amortised cost | Financial assets at amortised cost, category | IFRS 9 | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 1 | |||
Financial assets, ending balance | 1 | 1 | 1 | |
Lifetime expected credit losses | POCI | Debt securities | Financial assets measured at fair value through other comprehensive income, category | IFRS 9 | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 1 | |||
Financial assets, ending balance | 0 | 1 | 1 | |
Gross carrying amount | Financial assets measured at fair value through other comprehensive income, category | IFRS 9 | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 351,891 | |||
Financial assets, ending balance | 393,849 | 351,891 | 351,891 | |
Gross carrying amount | Financial instruments including loan commitments and financial guarantees | IFRS 9 | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 2,350,116 | |||
Financial assets, ending balance | 2,527,333 | 2,350,116 | 2,350,116 | |
Gross carrying amount | Loans and advances to bank and customers including loan commitments and financial guarantees | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 1,681,844 | $ 1,612,646 | 1,612,646 | |
Changes due to modifications not derecognised | 0 | |||
New financial assets originated or purchased | 215,513 | 504,199 | ||
Asset derecognised (including final repayments) | (176,948) | (375,608) | ||
Changes to risk parameters – further lending/repayments | 15,619 | (74,369) | ||
Assets written off | (1,249) | (2,797) | ||
Credit-related modifications that resulted in derecognition | (1) | (268) | ||
Foreign exchange | (46,418) | 18,200 | ||
Other | 152 | (159) | ||
Financial assets, ending balance | 1,688,512 | 1,681,844 | 1,681,844 | |
Gross carrying amount | Other financial assets measured at amortised cost | Financial assets at amortised cost, category | IFRS 9 | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 615,179 | |||
Financial assets, ending balance | 751,872 | 615,179 | 615,179 | |
Gross carrying amount | Non-trading reverse purchase agreement commitments | IFRS 9 | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 53,093 | |||
Financial assets, ending balance | 86,949 | 53,093 | 53,093 | |
Gross carrying amount | Debt securities | Financial assets measured at fair value through other comprehensive income, category | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 355,664 | |||
Financial assets, ending balance | 402,331 | 355,664 | 355,664 | |
Gross carrying amount | 12-month expected credit losses | Financial instruments not 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 | 1,561,613 | 1,502,976 | 1,502,976 | |
Transfers of financial instruments: | (138,661) | (36,244) | ||
– transfers from stage 1 to stage 2 | (175,849) | (108,434) | ||
– transfers from stage 2 to stage 1 | 39,559 | 73,086 | ||
– transfers to stage 3 | (2,724) | (1,284) | ||
– transfers from stage 3 | 353 | 388 | ||
New financial assets originated or purchased | 215,501 | 504,064 | ||
Asset derecognised (including final repayments) | (163,342) | (352,961) | ||
Changes to risk parameters – further lending/repayments | 13,119 | (72,239) | ||
Foreign exchange | (43,145) | 16,838 | ||
Other | 36 | (821) | ||
Financial assets, ending balance | 1,445,121 | 1,561,613 | 1,561,613 | |
Gross carrying amount | 12-month expected credit losses | Financial instruments not credit-impaired | Other financial assets measured at amortised cost | Financial assets at amortised cost, category | IFRS 9 | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 613,200 | |||
Financial assets, ending balance | 744,724 | 613,200 | 613,200 | |
Gross carrying amount | 12-month expected credit losses | Financial instruments not credit-impaired | Debt securities | Financial assets measured at fair value through other comprehensive income, category | IFRS 9 | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 350,915 | |||
Financial assets, ending balance | 388,792 | 350,915 | 350,915 | |
Gross carrying amount | Lifetime expected credit losses | Financial instruments not 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 | 105,551 | 95,104 | 95,104 | |
Transfers of financial instruments: | 131,316 | 31,063 | ||
– transfers from stage 1 to stage 2 | 175,849 | 108,434 | ||
– transfers from stage 2 to stage 1 | (39,559) | (73,086) | ||
– transfers to stage 3 | (5,434) | (5,022) | ||
– transfers from stage 3 | 460 | 737 | ||
New financial assets originated or purchased | 0 | |||
Asset derecognised (including final repayments) | (12,522) | (19,909) | ||
Changes to risk parameters – further lending/repayments | 2,831 | (2,560) | ||
Foreign exchange | (2,672) | 1,201 | ||
Other | 93 | 652 | ||
Financial assets, ending balance | 224,597 | 105,551 | 105,551 | |
Gross carrying amount | Lifetime expected credit losses | Financial instruments not credit-impaired | Other financial assets measured at amortised cost | Financial assets at amortised cost, category | IFRS 9 | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 1,827 | |||
Financial assets, ending balance | 6,915 | 1,827 | 1,827 | |
Gross carrying amount | Lifetime expected credit losses | Financial instruments not credit-impaired | Debt securities | Financial assets measured at fair value through other comprehensive income, category | IFRS 9 | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 975 | |||
Financial assets, ending balance | 4,777 | 975 | 975 | |
Gross carrying amount | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Loans and advances to bank and customers including loan commitments and financial guarantees | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 14,335 | 14,232 | 14,232 | |
Transfers of financial instruments: | 7,345 | 5,181 | ||
– transfers to stage 3 | 8,158 | 6,306 | ||
– transfers from stage 3 | (813) | (1,125) | ||
Changes due to modifications not derecognised | 0 | |||
New financial assets originated or purchased | 0 | |||
Asset derecognised (including final repayments) | (1,064) | (2,712) | ||
Changes to risk parameters – further lending/repayments | (300) | 402 | ||
Assets written off | (1,249) | (2,657) | ||
Credit-related modifications that resulted in derecognition | (1) | (268) | ||
Foreign exchange | (588) | 160 | ||
Other | 16 | (3) | ||
Financial assets, ending balance | 18,494 | 14,335 | 14,335 | |
Gross carrying amount | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Other financial assets measured at amortised cost | Financial assets at amortised cost, category | IFRS 9 | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 151 | |||
Financial assets, ending balance | 232 | 151 | 151 | |
Gross carrying amount | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Debt securities | Financial assets measured at fair value through other comprehensive income, category | IFRS 9 | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 0 | |||
Financial assets, ending balance | 280 | 0 | 0 | |
Gross carrying 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 | 345 | 334 | 334 | |
New financial assets originated or purchased | 12 | 135 | ||
Asset derecognised (including final repayments) | (20) | (26) | ||
Changes to risk parameters – further lending/repayments | (31) | 28 | ||
Assets written off | 0 | (140) | ||
Foreign exchange | (13) | 1 | ||
Other | 7 | 13 | ||
Financial assets, ending balance | 300 | 345 | 345 | |
Gross carrying amount | Lifetime expected credit losses | POCI | Other financial assets measured at amortised cost | Financial assets at amortised cost, category | IFRS 9 | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 1 | |||
Financial assets, ending balance | 1 | 1 | 1 | |
Gross carrying amount | Lifetime expected credit losses | POCI | Debt securities | Financial assets measured at fair value through other comprehensive income, category | IFRS 9 | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 1 | |||
Financial assets, ending balance | 0 | 1 | 1 | |
Allowance for ECL | Financial assets measured at fair value through other comprehensive income, category | IFRS 9 | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | (166) | |||
Financial assets, ending balance | (242) | (166) | (166) | |
Allowance for ECL | Financial instruments including loan commitments and financial guarantees | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | (9,409) | |||
Financial assets, ending balance | (14,507) | (9,409) | (9,409) | |
Total ECL income statement change for the period | (6,858) | (2,756) | ||
Allowance for ECL | Financial instruments including loan commitments and financial guarantees | IFRS 9 | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | (9,243) | |||
Financial assets, ending balance | (14,265) | (9,243) | (9,243) | |
Total ECL income statement change for the period | (6,748) | (2,651) | ||
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 | (9,125) | (9,056) | (9,056) | |
Net remeasurement of ECL arising from transfer of stage | (915) | (121) | ||
Changes due to modifications not derecognised | 0 | |||
New financial assets originated or purchased | (291) | (555) | ||
Asset derecognised (including final repayments) | 432 | 1,329 | ||
Changes to risk parameters – further lending/repayments | (328) | 364 | ||
Change in risk parameters – credit quality | (5,450) | (3,961) | ||
Changes to models used for ECL calculation | (42) | 12 | ||
Assets written off | 1,249 | 2,797 | ||
Credit-related modifications that resulted in derecognition | 0 | 125 | ||
Foreign exchange | 452 | (79) | ||
Other | (4) | 20 | ||
Financial assets, ending balance | (14,022) | (9,125) | (9,125) | |
ECL income statement change for the period | 6,594 | (2,932) | ||
Recoveries | 127 | 361 | ||
Other | 3 | (20) | ||
Total ECL income statement change for the period | (6,464) | (1,455) | (1,136) | (2,591) |
Increase in financial assets | (4,897) | |||
Increase relating to volume movements | (187) | |||
Exchange and other movements | 448 | |||
Allowance for ECL | Other financial assets measured at amortised cost | Financial assets at amortised cost, category | IFRS 9 | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | (118) | |||
Financial assets, ending balance | (243) | (118) | (118) | |
Total ECL income statement change for the period | (127) | (26) | ||
Allowance for ECL | Performance and other guarantees | IFRS 9 | ||||
Increase (decrease) in financial assets [abstract] | ||||
Total ECL income statement change for the period | (157) | (34) | ||
Allowance for ECL | Debt securities | Financial assets measured at fair value through other comprehensive income, category | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | (166) | |||
Financial assets, ending balance | (242) | (166) | (166) | |
Total ECL income statement change for the period | (110) | (105) | ||
Allowance for ECL | 12-month expected credit losses | Financial instruments not 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 | (1,464) | (1,449) | (1,449) | |
Transfers of financial instruments: | (148) | (543) | ||
– transfers from stage 1 to stage 2 | 489 | 487 | ||
– transfers from stage 2 to stage 1 | (638) | (1,044) | ||
– transfers to stage 3 | 11 | 59 | ||
– transfers from stage 3 | (10) | (45) | ||
Net remeasurement of ECL arising from transfer of stage | 355 | 669 | ||
New financial assets originated or purchased | (291) | (534) | ||
Asset derecognised (including final repayments) | 52 | 112 | ||
Changes to risk parameters – further lending/repayments | (169) | 291 | ||
Change in risk parameters – credit quality | (620) | 2 | ||
Changes to models used for ECL calculation | 30 | (6) | ||
Foreign exchange | 90 | (9) | ||
Other | 12 | 3 | ||
Financial assets, ending balance | (2,153) | (1,464) | (1,464) | |
ECL income statement change for the period | (643) | 534 | ||
Allowance for ECL | 12-month expected credit losses | Financial instruments not credit-impaired | Other financial assets measured at amortised cost | Financial assets at amortised cost, category | IFRS 9 | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | (38) | |||
Financial assets, ending balance | (96) | (38) | (38) | |
Allowance for ECL | 12-month expected credit losses | Financial instruments not credit-impaired | Debt securities | Financial assets measured at fair value through other comprehensive income, category | IFRS 9 | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | (39) | |||
Financial assets, ending balance | (124) | (39) | (39) | |
Allowance for ECL | Lifetime expected credit losses | Loans and advances to bank and customers including loan commitments and financial guarantees | ||||
Increase (decrease) in financial assets [abstract] | ||||
ECL income statement change for the period | (2,800) | |||
Allowance for ECL | Lifetime expected credit losses | Other financial assets measured at amortised cost | ||||
Increase (decrease) in financial assets [abstract] | ||||
ECL income statement change for the period | (200) | |||
Allowance for ECL | Lifetime expected credit losses | Financial instruments not 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 | (2,441) | (2,278) | (2,278) | |
Transfers of financial instruments: | 498 | 1,134 | ||
– transfers from stage 1 to stage 2 | (489) | (487) | ||
– transfers from stage 2 to stage 1 | 638 | 1,044 | ||
– transfers to stage 3 | 392 | 665 | ||
– transfers from stage 3 | (43) | (88) | ||
Net remeasurement of ECL arising from transfer of stage | (558) | (676) | ||
New financial assets originated or purchased | 0 | |||
Asset derecognised (including final repayments) | 203 | 553 | ||
Changes to risk parameters – further lending/repayments | (221) | 67 | ||
Change in risk parameters – credit quality | (2,561) | (1,208) | ||
Changes to models used for ECL calculation | (63) | 4 | ||
Foreign exchange | 162 | (40) | ||
Other | (7) | 3 | ||
Financial assets, ending balance | (4,988) | (2,441) | (2,441) | |
ECL income statement change for the period | (3,200) | (1,260) | ||
Allowance for ECL | Lifetime expected credit losses | Financial instruments not credit-impaired | Other financial assets measured at amortised cost | Financial assets at amortised cost, category | IFRS 9 | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | (38) | |||
Financial assets, ending balance | (63) | (38) | (38) | |
Allowance for ECL | Lifetime expected credit losses | Financial instruments not credit-impaired | Debt securities | Financial assets measured at fair value through other comprehensive income, category | IFRS 9 | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | (127) | |||
Financial assets, ending balance | (18) | (127) | (127) | |
Allowance for ECL | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Loans and advances to bank and customers including loan commitments and financial guarantees | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | (5,121) | (5,135) | (5,135) | |
Transfers of financial instruments: | (350) | (591) | ||
– transfers to stage 3 | (403) | (724) | ||
– transfers from stage 3 | 53 | 133 | ||
Net remeasurement of ECL arising from transfer of stage | (712) | (114) | ||
Changes due to modifications not derecognised | 0 | |||
New financial assets originated or purchased | 0 | |||
Asset derecognised (including final repayments) | 176 | 656 | ||
Changes to risk parameters – further lending/repayments | 63 | (6) | ||
Change in risk parameters – credit quality | (2,266) | (2,704) | ||
Changes to models used for ECL calculation | (9) | 14 | ||
Assets written off | 1,249 | 2,657 | ||
Credit-related modifications that resulted in derecognition | 0 | 125 | ||
Foreign exchange | 196 | (31) | ||
Other | (8) | 8 | ||
Financial assets, ending balance | (6,782) | (5,121) | (5,121) | |
ECL income statement change for the period | (2,748) | (2,154) | ||
Allowance for ECL | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Other financial assets measured at amortised cost | Financial assets at amortised cost, category | IFRS 9 | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | (42) | |||
Financial assets, ending balance | (84) | (42) | (42) | |
Allowance for ECL | Lifetime expected credit losses | Financial instruments credit-impaired after purchase or origination | Debt securities | Financial assets measured at fair value through other comprehensive income, category | IFRS 9 | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 0 | |||
Financial assets, ending balance | (100) | 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 | (99) | $ (194) | (194) | |
New financial assets originated or purchased | 0 | (21) | ||
Asset derecognised (including final repayments) | 1 | 8 | ||
Changes to risk parameters – further lending/repayments | (1) | 12 | ||
Change in risk parameters – credit quality | (3) | (51) | ||
Assets written off | 0 | 140 | ||
Foreign exchange | 4 | 1 | ||
Other | (1) | 6 | ||
Financial assets, ending balance | (99) | (99) | (99) | |
ECL income statement change for the period | (3) | (52) | ||
Allowance for ECL | Lifetime expected credit losses | POCI | Other financial assets measured at amortised cost | Financial assets at amortised cost, category | IFRS 9 | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 0 | |||
Financial assets, ending balance | 0 | 0 | 0 | |
Allowance for ECL | Lifetime expected credit losses | POCI | Debt securities | Financial assets measured at fair value through other comprehensive income, category | IFRS 9 | ||||
Increase (decrease) in financial assets [abstract] | ||||
Financial assets, beginning balance | 0 | |||
Financial assets, ending balance | $ 0 | $ 0 | $ 0 |
Report Of The Directors Finan_4
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, Footnotes) (Details) - Allowance for ECL - USD ($) $ in Millions | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2020 | Dec. 31, 2019 | Jun. 30, 2019 | Dec. 31, 2019 | |
Loans and advances to bank and customers including loan commitments and financial guarantees | ||||
Disclosure of financial assets [line items] | ||||
Increase (decrease) in allowance account for credit losses of financial assets | $ (6,594) | $ 2,932 | ||
Total ECL income statement change for the period | 6,464 | $ 1,455 | $ 1,136 | $ 2,591 |
Lifetime expected credit losses | Loans and advances to bank and customers including loan commitments and financial guarantees | ||||
Disclosure of financial assets [line items] | ||||
Increase (decrease) in allowance account for credit losses of financial assets | 2,800 | |||
Lifetime expected credit losses | Other financial assets measured at amortised cost | ||||
Disclosure of financial assets [line items] | ||||
Increase (decrease) in allowance account for credit losses of financial assets | 200 | |||
Lifetime expected credit losses | Personal | Loans and advances to bank and customers including loan commitments and financial guarantees | ||||
Disclosure of financial assets [line items] | ||||
Increase (decrease) in allowance account for credit losses of financial assets | 600 | |||
Lifetime expected credit losses | Wholesale | Loans and advances to bank and customers including loan commitments and financial guarantees | ||||
Disclosure of financial assets [line items] | ||||
Increase (decrease) in allowance account for credit losses of financial assets | $ 2,200 |
Report Of The Directors Finan_5
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, 2020 | Dec. 31, 2019 |
IFRS 9 | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 2,513,068 | $ 2,340,873 |
Gross carrying/notional amount | IFRS 9 | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets and off-balance sheet loan commitments | 2,527,333 | 2,350,116 |
Allowance for ECL | IFRS 9 | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets and off-balance sheet loan commitments | (14,265) | (9,243) |
Loans and advances to customers | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,018,681 | 1,036,743 |
Loans and advances to banks | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 77,015 | 69,203 |
Loan and other credit-related commitments | IFRS 9 | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 647,534 | 599,700 |
Loan and other credit-related commitments | Gross carrying/notional amount | IFRS 9 | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 648,156 | 600,029 |
Loan and other credit-related commitments | Allowance for ECL | IFRS 9 | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | (622) | (329) |
Loan and other credit-related commitments | 12-month expected credit losses | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 594,207 | 577,494 |
Loan and other credit-related commitments | 12-month expected credit losses | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 594,400 | 577,631 |
Loan and other credit-related commitments | 12-month expected credit losses | Allowance for ECL | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | (193) | (137) |
Loan and other credit-related commitments | Lifetime expected credit losses | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 52,359 | 21,485 |
Loan and other credit-related commitments | Lifetime expected credit losses | IFRS 9 | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 965 | 712 |
Loan and other credit-related commitments | Lifetime expected credit losses | IFRS 9 | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 3 | 9 |
Loan and other credit-related commitments | Lifetime expected credit losses | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 52,698 | 21,618 |
Loan and other credit-related commitments | Lifetime expected credit losses | Gross carrying/notional amount | IFRS 9 | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 1,055 | 771 |
Loan and other credit-related commitments | Lifetime expected credit losses | Gross carrying/notional amount | IFRS 9 | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 3 | 9 |
Loan and other credit-related commitments | Lifetime expected credit losses | Allowance for ECL | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | (339) | (133) |
Loan and other credit-related commitments | Lifetime expected credit losses | Allowance for ECL | IFRS 9 | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | (90) | (59) |
Loan and other credit-related commitments | Lifetime expected credit losses | Allowance for ECL | IFRS 9 | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
Financial guarantees | IFRS 9 | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 18,209 | 20,166 |
Financial guarantees | Gross carrying/notional amount | IFRS 9 | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 18,328 | 20,214 |
Financial guarantees | Allowance for ECL | IFRS 9 | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | (119) | (48) |
Financial guarantees | 12-month expected credit losses | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 13,101 | 17,668 |
Financial guarantees | 12-month expected credit losses | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 13,129 | 17,684 |
Financial guarantees | 12-month expected credit losses | Allowance for ECL | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | (28) | (16) |
Financial guarantees | Lifetime expected credit losses | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 4,830 | 2,318 |
Financial guarantees | Lifetime expected credit losses | IFRS 9 | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 277 | 176 |
Financial guarantees | Lifetime expected credit losses | IFRS 9 | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 1 | 4 |
Financial guarantees | Lifetime expected credit losses | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 4,903 | 2,340 |
Financial guarantees | Lifetime expected credit losses | Gross carrying/notional amount | IFRS 9 | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 295 | 186 |
Financial guarantees | Lifetime expected credit losses | Gross carrying/notional amount | IFRS 9 | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 1 | 4 |
Financial guarantees | Lifetime expected credit losses | Allowance for ECL | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | (73) | (22) |
Financial guarantees | Lifetime expected credit losses | Allowance for ECL | IFRS 9 | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | (18) | (10) |
Financial guarantees | Lifetime expected credit losses | Allowance for ECL | IFRS 9 | 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 | 89,781 | 85,735 |
Debt instruments measured at amortised cost | Loans and advances to customers | IFRS 9 | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,018,681 | 1,036,743 |
Debt instruments measured at amortised cost | Loans and advances to customers | Gross carrying/notional amount | IFRS 9 | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,031,908 | 1,045,475 |
Debt instruments measured at amortised cost | Loans and advances to customers | Allowance for ECL | IFRS 9 | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (13,227) | (8,732) |
Debt instruments measured at amortised cost | Loans and advances to banks | IFRS 9 | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 77,015 | 69,203 |
Debt instruments measured at amortised cost | Loans and advances to banks | Gross carrying/notional amount | IFRS 9 | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 77,069 | 69,219 |
Debt instruments measured at amortised cost | Loans and advances to banks | Allowance for ECL | IFRS 9 | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (54) | (16) |
Debt instruments measured at amortised cost | Other financial assets measured at amortised cost | IFRS 9 | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 751,629 | 615,061 |
Debt instruments measured at amortised cost | Other financial assets measured at amortised cost | Gross carrying/notional amount | IFRS 9 | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 751,872 | 615,179 |
Debt instruments measured at amortised cost | Other financial assets measured at amortised cost | Allowance for ECL | IFRS 9 | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (243) | (118) |
Debt instruments measured at amortised cost | Debt securities | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 77,589 | 75,259 |
Debt instruments measured at amortised cost | 12-month expected credit losses | Loans and advances to customers | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 850,772 | 950,286 |
Debt instruments measured at amortised cost | 12-month expected credit losses | Loans and advances to customers | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 852,678 | 951,583 |
Debt instruments measured at amortised cost | 12-month expected credit losses | Loans and advances to customers | Allowance for ECL | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (1,906) | (1,297) |
Debt instruments measured at amortised cost | 12-month expected credit losses | Loans and advances to banks | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 71,667 | 67,755 |
Debt instruments measured at amortised cost | 12-month expected credit losses | Loans and advances to banks | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 71,693 | 67,769 |
Debt instruments measured at amortised cost | 12-month expected credit losses | Loans and advances to banks | Allowance for ECL | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (26) | (14) |
Debt instruments measured at amortised cost | 12-month expected credit losses | Other financial assets measured at amortised cost | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 744,628 | 613,162 |
Debt instruments measured at amortised cost | 12-month expected credit losses | Other financial assets measured at amortised cost | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 744,724 | 613,200 |
Debt instruments measured at amortised cost | 12-month expected credit losses | Other financial assets measured at amortised cost | Allowance for ECL | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (96) | (38) |
Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to customers | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 157,242 | 77,898 |
Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to customers | IFRS 9 | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 10,470 | 8,326 |
Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to customers | IFRS 9 | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 197 | 233 |
Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to customers | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 161,795 | 80,182 |
Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to customers | Gross carrying/notional amount | IFRS 9 | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 17,139 | 13,378 |
Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to customers | Gross carrying/notional amount | IFRS 9 | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 296 | 332 |
Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to customers | Allowance for ECL | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (4,553) | (2,284) |
Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to customers | Allowance for ECL | IFRS 9 | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (6,669) | (5,052) |
Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to customers | Allowance for ECL | IFRS 9 | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (99) | (99) |
Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to banks | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 5,344 | 1,448 |
Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to banks | IFRS 9 | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 4 | 0 |
Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to banks | IFRS 9 | 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 | Loans and advances to banks | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 5,367 | 1,450 |
Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to banks | Gross carrying/notional amount | IFRS 9 | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 9 | 0 |
Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to banks | Gross carrying/notional amount | IFRS 9 | 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 | Loans and advances to banks | Allowance for ECL | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (23) | (2) |
Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to banks | Allowance for ECL | IFRS 9 | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (5) | 0 |
Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to banks | Allowance for ECL | IFRS 9 | 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 | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 6,852 | 1,789 |
Debt instruments measured at amortised cost | Lifetime expected credit losses | Other financial assets measured at amortised cost | IFRS 9 | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 148 | 109 |
Debt instruments measured at amortised cost | Lifetime expected credit losses | Other financial assets measured at amortised cost | IFRS 9 | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1 | 1 |
Debt instruments measured at amortised cost | Lifetime expected credit losses | Other financial assets measured at amortised cost | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 6,915 | 1,827 |
Debt instruments measured at amortised cost | Lifetime expected credit losses | Other financial assets measured at amortised cost | Gross carrying/notional amount | IFRS 9 | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 232 | 151 |
Debt instruments measured at amortised cost | Lifetime expected credit losses | Other financial assets measured at amortised cost | Gross carrying/notional amount | IFRS 9 | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1 | 1 |
Debt instruments measured at amortised cost | Lifetime expected credit losses | Other financial assets measured at amortised cost | Allowance for ECL | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (63) | (38) |
Debt instruments measured at amortised cost | Lifetime expected credit losses | Other financial assets measured at amortised cost | Allowance for ECL | IFRS 9 | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (84) | (42) |
Debt instruments measured at amortised cost | Lifetime expected credit losses | Other financial assets measured at amortised cost | Allowance for ECL | IFRS 9 | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Debt instruments at FVOCI | IFRS 9 | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 393,607 | 351,725 |
Debt instruments at FVOCI | Gross carrying/notional amount | IFRS 9 | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 393,849 | 351,891 |
Debt instruments at FVOCI | Allowance for ECL | IFRS 9 | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (242) | (166) |
Debt instruments at FVOCI | Debt securities | Gross carrying/notional amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 402,331 | 355,664 |
Debt instruments at FVOCI | Debt securities | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (242) | (166) |
Debt instruments at FVOCI | 12-month expected credit losses | Debt securities | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 388,668 | 350,876 |
Debt instruments at FVOCI | 12-month expected credit losses | Debt securities | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 388,792 | 350,915 |
Debt instruments at FVOCI | 12-month expected credit losses | Debt securities | Allowance for ECL | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (124) | (39) |
Debt instruments at FVOCI | Lifetime expected credit losses | Debt securities | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 4,759 | 848 |
Debt instruments at FVOCI | Lifetime expected credit losses | Debt securities | IFRS 9 | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 180 | 0 |
Debt instruments at FVOCI | Lifetime expected credit losses | Debt securities | IFRS 9 | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 1 |
Debt instruments at FVOCI | Lifetime expected credit losses | Debt securities | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 4,777 | 975 |
Debt instruments at FVOCI | Lifetime expected credit losses | Debt securities | Gross carrying/notional amount | IFRS 9 | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 280 | 0 |
Debt instruments at FVOCI | Lifetime expected credit losses | Debt securities | Gross carrying/notional amount | IFRS 9 | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 1 |
Debt instruments at FVOCI | Lifetime expected credit losses | Debt securities | Allowance for ECL | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (18) | (127) |
Debt instruments at FVOCI | Lifetime expected credit losses | Debt securities | Allowance for ECL | IFRS 9 | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (100) | 0 |
Debt instruments at FVOCI | Lifetime expected credit losses | Debt securities | Allowance for ECL | IFRS 9 | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Strong | Gross carrying/notional amount | IFRS 9 | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets and off-balance sheet loan commitments | 1,642,616 | 1,499,643 |
Strong | Loan and other credit-related commitments | Gross carrying/notional amount | IFRS 9 | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 407,827 | 369,424 |
Strong | Loan and other credit-related commitments | 12-month expected credit losses | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 400,182 | 368,711 |
Strong | Loan and other credit-related commitments | Lifetime expected credit losses | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 7,645 | 713 |
Strong | Loan and other credit-related commitments | Lifetime expected credit losses | Gross carrying/notional amount | IFRS 9 | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
Strong | Loan and other credit-related commitments | Lifetime expected credit losses | Gross carrying/notional amount | IFRS 9 | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
Strong | Financial guarantees | Gross carrying/notional amount | IFRS 9 | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 6,348 | 7,441 |
Strong | Financial guarantees | 12-month expected credit losses | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 5,918 | 7,400 |
Strong | Financial guarantees | Lifetime expected credit losses | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 430 | 41 |
Strong | Financial guarantees | Lifetime expected credit losses | Gross carrying/notional amount | IFRS 9 | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
Strong | Financial guarantees | Lifetime expected credit losses | Gross carrying/notional amount | IFRS 9 | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
Strong | Debt instruments measured at amortised cost | Loans and advances to customers | Gross carrying/notional amount | IFRS 9 | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 493,586 | 524,889 |
Strong | Debt instruments measured at amortised cost | Loans and advances to banks | Gross carrying/notional amount | IFRS 9 | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 69,599 | 60,636 |
Strong | Debt instruments measured at amortised cost | Other financial assets measured at amortised cost | Gross carrying/notional amount | IFRS 9 | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 665,256 | 537,253 |
Strong | Debt instruments measured at amortised cost | 12-month expected credit losses | Loans and advances to customers | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 480,945 | 523,092 |
Strong | Debt instruments measured at amortised cost | 12-month expected credit losses | Loans and advances to banks | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 66,544 | 60,548 |
Strong | Debt instruments measured at amortised cost | 12-month expected credit losses | Other financial assets measured at amortised cost | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 664,153 | 536,942 |
Strong | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to customers | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 12,641 | 1,797 |
Strong | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to customers | Gross carrying/notional amount | IFRS 9 | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Strong | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to customers | Gross carrying/notional amount | IFRS 9 | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Strong | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to banks | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 3,055 | 88 |
Strong | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to banks | Gross carrying/notional amount | IFRS 9 | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Strong | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to banks | Gross carrying/notional amount | IFRS 9 | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Strong | Debt instruments measured at amortised cost | Lifetime expected credit losses | Other financial assets measured at amortised cost | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,103 | 311 |
Strong | Debt instruments measured at amortised cost | Lifetime expected credit losses | Other financial assets measured at amortised cost | Gross carrying/notional amount | IFRS 9 | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Strong | Debt instruments measured at amortised cost | Lifetime expected credit losses | Other financial assets measured at amortised cost | Gross carrying/notional amount | IFRS 9 | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Strong | Debt instruments at FVOCI | Gross carrying/notional amount | IFRS 9 | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 372,676 | 333,158 |
Strong | Debt instruments at FVOCI | 12-month expected credit losses | Debt securities | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 369,864 | 333,072 |
Strong | Debt instruments at FVOCI | Lifetime expected credit losses | Debt securities | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 2,812 | 86 |
Strong | Debt instruments at FVOCI | Lifetime expected credit losses | Debt securities | Gross carrying/notional amount | IFRS 9 | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Strong | Debt instruments at FVOCI | Lifetime expected credit losses | Debt securities | Gross carrying/notional amount | IFRS 9 | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Good | Gross carrying/notional amount | IFRS 9 | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets and off-balance sheet loan commitments | 463,070 | 471,257 |
Good | Loan and other credit-related commitments | Gross carrying/notional amount | IFRS 9 | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 149,477 | 146,988 |
Good | Loan and other credit-related commitments | 12-month expected credit losses | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 131,509 | 141,322 |
Good | Loan and other credit-related commitments | Lifetime expected credit losses | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 17,968 | 5,666 |
Good | Loan and other credit-related commitments | Lifetime expected credit losses | Gross carrying/notional amount | IFRS 9 | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
Good | Loan and other credit-related commitments | Lifetime expected credit losses | Gross carrying/notional amount | IFRS 9 | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
Good | Financial guarantees | Gross carrying/notional amount | IFRS 9 | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 5,393 | 6,033 |
Good | Financial guarantees | 12-month expected credit losses | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 4,290 | 5,746 |
Good | Financial guarantees | Lifetime expected credit losses | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 1,103 | 287 |
Good | Financial guarantees | Lifetime expected credit losses | Gross carrying/notional amount | IFRS 9 | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
Good | Financial guarantees | Lifetime expected credit losses | Gross carrying/notional amount | IFRS 9 | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
Good | Debt instruments measured at amortised cost | Loans and advances to customers | Gross carrying/notional amount | IFRS 9 | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 243,340 | 258,402 |
Good | Debt instruments measured at amortised cost | Loans and advances to banks | Gross carrying/notional amount | IFRS 9 | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 4,039 | 5,329 |
Good | Debt instruments measured at amortised cost | Other financial assets measured at amortised cost | Gross carrying/notional amount | IFRS 9 | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 60,821 | 54,505 |
Good | Debt instruments measured at amortised cost | 12-month expected credit losses | Loans and advances to customers | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 203,612 | 242,631 |
Good | Debt instruments measured at amortised cost | 12-month expected credit losses | Loans and advances to banks | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 2,919 | 5,312 |
Good | Debt instruments measured at amortised cost | 12-month expected credit losses | Other financial assets measured at amortised cost | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 58,654 | 54,058 |
Good | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to customers | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 39,728 | 15,771 |
Good | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to customers | Gross carrying/notional amount | IFRS 9 | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Good | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to customers | Gross carrying/notional amount | IFRS 9 | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Good | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to banks | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,120 | 17 |
Good | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to banks | Gross carrying/notional amount | IFRS 9 | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Good | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to banks | Gross carrying/notional amount | IFRS 9 | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Good | Debt instruments measured at amortised cost | Lifetime expected credit losses | Other financial assets measured at amortised cost | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 2,167 | 447 |
Good | Debt instruments measured at amortised cost | Lifetime expected credit losses | Other financial assets measured at amortised cost | Gross carrying/notional amount | IFRS 9 | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Good | Debt instruments measured at amortised cost | Lifetime expected credit losses | Other financial assets measured at amortised cost | Gross carrying/notional amount | IFRS 9 | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Good | Debt instruments at FVOCI | Gross carrying/notional amount | IFRS 9 | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 10,011 | 10,966 |
Good | Debt instruments at FVOCI | 12-month expected credit losses | Debt securities | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 9,395 | 10,941 |
Good | Debt instruments at FVOCI | Lifetime expected credit losses | Debt securities | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 616 | 25 |
Good | Debt instruments at FVOCI | Lifetime expected credit losses | Debt securities | Gross carrying/notional amount | IFRS 9 | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Good | Debt instruments at FVOCI | Lifetime expected credit losses | Debt securities | Gross carrying/notional amount | IFRS 9 | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Satisfactory | Gross carrying/notional amount | IFRS 9 | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets and off-balance sheet loan commitments | 362,736 | 336,148 |
Satisfactory | Loan and other credit-related commitments | Gross carrying/notional amount | IFRS 9 | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 81,707 | 77,499 |
Satisfactory | Loan and other credit-related commitments | 12-month expected credit losses | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 60,334 | 66,283 |
Satisfactory | Loan and other credit-related commitments | Lifetime expected credit losses | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 21,373 | 11,216 |
Satisfactory | Loan and other credit-related commitments | Lifetime expected credit losses | Gross carrying/notional amount | IFRS 9 | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
Satisfactory | Loan and other credit-related commitments | Lifetime expected credit losses | Gross carrying/notional amount | IFRS 9 | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
Satisfactory | Financial guarantees | Gross carrying/notional amount | IFRS 9 | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 5,068 | 5,539 |
Satisfactory | Financial guarantees | 12-month expected credit losses | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 2,590 | 4,200 |
Satisfactory | Financial guarantees | Lifetime expected credit losses | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 2,478 | 1,339 |
Satisfactory | Financial guarantees | Lifetime expected credit losses | Gross carrying/notional amount | IFRS 9 | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
Satisfactory | Financial guarantees | Lifetime expected credit losses | Gross carrying/notional amount | IFRS 9 | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
Satisfactory | Debt instruments measured at amortised cost | Loans and advances to customers | Gross carrying/notional amount | IFRS 9 | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 248,791 | 228,485 |
Satisfactory | Debt instruments measured at amortised cost | Loans and advances to banks | Gross carrying/notional amount | IFRS 9 | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 2,382 | 1,859 |
Satisfactory | Debt instruments measured at amortised cost | Other financial assets measured at amortised cost | Gross carrying/notional amount | IFRS 9 | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 24,788 | 22,766 |
Satisfactory | Debt instruments measured at amortised cost | 12-month expected credit losses | Loans and advances to customers | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 160,839 | 181,056 |
Satisfactory | Debt instruments measured at amortised cost | 12-month expected credit losses | Loans and advances to banks | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 2,142 | 1,797 |
Satisfactory | Debt instruments measured at amortised cost | 12-month expected credit losses | Other financial assets measured at amortised cost | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 21,716 | 21,921 |
Satisfactory | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to customers | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 87,952 | 47,429 |
Satisfactory | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to customers | Gross carrying/notional amount | IFRS 9 | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Satisfactory | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to customers | Gross carrying/notional amount | IFRS 9 | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Satisfactory | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to banks | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 240 | 62 |
Satisfactory | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to banks | Gross carrying/notional amount | IFRS 9 | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Satisfactory | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to banks | Gross carrying/notional amount | IFRS 9 | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Satisfactory | Debt instruments measured at amortised cost | Lifetime expected credit losses | Other financial assets measured at amortised cost | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 3,072 | 845 |
Satisfactory | Debt instruments measured at amortised cost | Lifetime expected credit losses | Other financial assets measured at amortised cost | Gross carrying/notional amount | IFRS 9 | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Satisfactory | Debt instruments measured at amortised cost | Lifetime expected credit losses | Other financial assets measured at amortised cost | Gross carrying/notional amount | IFRS 9 | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Satisfactory | Debt instruments at FVOCI | Gross carrying/notional amount | IFRS 9 | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 9,920 | 7,222 |
Satisfactory | Debt instruments at FVOCI | 12-month expected credit losses | Debt securities | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 9,533 | 6,902 |
Satisfactory | Debt instruments at FVOCI | Lifetime expected credit losses | Debt securities | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 387 | 320 |
Satisfactory | Debt instruments at FVOCI | Lifetime expected credit losses | Debt securities | Gross carrying/notional amount | IFRS 9 | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Satisfactory | Debt instruments at FVOCI | Lifetime expected credit losses | Debt securities | Gross carrying/notional amount | IFRS 9 | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Sub-standard | Gross carrying/notional amount | IFRS 9 | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets and off-balance sheet loan commitments | 39,880 | 28,254 |
Sub-standard | Loan and other credit-related commitments | Gross carrying/notional amount | IFRS 9 | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 8,087 | 5,338 |
Sub-standard | Loan and other credit-related commitments | 12-month expected credit losses | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 2,375 | 1,315 |
Sub-standard | Loan and other credit-related commitments | Lifetime expected credit losses | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 5,712 | 4,023 |
Sub-standard | Loan and other credit-related commitments | Lifetime expected credit losses | Gross carrying/notional amount | IFRS 9 | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
Sub-standard | Loan and other credit-related commitments | Lifetime expected credit losses | Gross carrying/notional amount | IFRS 9 | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
Sub-standard | Financial guarantees | Gross carrying/notional amount | IFRS 9 | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 1,223 | 1,011 |
Sub-standard | Financial guarantees | 12-month expected credit losses | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 331 | 338 |
Sub-standard | Financial guarantees | Lifetime expected credit losses | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 892 | 673 |
Sub-standard | Financial guarantees | Lifetime expected credit losses | Gross carrying/notional amount | IFRS 9 | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
Sub-standard | Financial guarantees | Lifetime expected credit losses | Gross carrying/notional amount | IFRS 9 | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
Sub-standard | Debt instruments measured at amortised cost | Loans and advances to customers | Gross carrying/notional amount | IFRS 9 | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 28,756 | 20,007 |
Sub-standard | Debt instruments measured at amortised cost | Loans and advances to banks | Gross carrying/notional amount | IFRS 9 | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,040 | 1,395 |
Sub-standard | Debt instruments measured at amortised cost | Other financial assets measured at amortised cost | Gross carrying/notional amount | IFRS 9 | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 774 | 503 |
Sub-standard | Debt instruments measured at amortised cost | 12-month expected credit losses | Loans and advances to customers | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 7,282 | 4,804 |
Sub-standard | Debt instruments measured at amortised cost | 12-month expected credit losses | Loans and advances to banks | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 88 | 112 |
Sub-standard | Debt instruments measured at amortised cost | 12-month expected credit losses | Other financial assets measured at amortised cost | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 201 | 279 |
Sub-standard | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to customers | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 21,474 | 15,185 |
Sub-standard | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to customers | Gross carrying/notional amount | IFRS 9 | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Sub-standard | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to customers | Gross carrying/notional amount | IFRS 9 | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 18 |
Sub-standard | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to banks | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 952 | 1,283 |
Sub-standard | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to banks | Gross carrying/notional amount | IFRS 9 | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Sub-standard | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to banks | Gross carrying/notional amount | IFRS 9 | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Sub-standard | Debt instruments measured at amortised cost | Lifetime expected credit losses | Other financial assets measured at amortised cost | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 573 | 224 |
Sub-standard | Debt instruments measured at amortised cost | Lifetime expected credit losses | Other financial assets measured at amortised cost | Gross carrying/notional amount | IFRS 9 | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Sub-standard | Debt instruments measured at amortised cost | Lifetime expected credit losses | Other financial assets measured at amortised cost | Gross carrying/notional amount | IFRS 9 | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Sub-standard | Debt instruments at FVOCI | Gross carrying/notional amount | IFRS 9 | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 962 | 544 |
Sub-standard | Debt instruments at FVOCI | 12-month expected credit losses | Debt securities | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Sub-standard | Debt instruments at FVOCI | Lifetime expected credit losses | Debt securities | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 962 | 544 |
Sub-standard | Debt instruments at FVOCI | Lifetime expected credit losses | Debt securities | Gross carrying/notional amount | IFRS 9 | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Sub-standard | Debt instruments at FVOCI | Lifetime expected credit losses | Debt securities | Gross carrying/notional amount | IFRS 9 | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Credit impaired | Gross carrying/notional amount | IFRS 9 | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets and off-balance sheet loan commitments | 19,031 | 14,814 |
Credit impaired | Loan and other credit-related commitments | Gross carrying/notional amount | IFRS 9 | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 1,058 | 780 |
Credit impaired | Loan and other credit-related commitments | 12-month expected credit losses | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
Credit impaired | Loan and other credit-related commitments | Lifetime expected credit losses | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
Credit impaired | Loan and other credit-related commitments | Lifetime expected credit losses | Gross carrying/notional amount | IFRS 9 | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 1,055 | 771 |
Credit impaired | Loan and other credit-related commitments | Lifetime expected credit losses | Gross carrying/notional amount | IFRS 9 | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 3 | 9 |
Credit impaired | Financial guarantees | Gross carrying/notional amount | IFRS 9 | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 296 | 190 |
Credit impaired | Financial guarantees | 12-month expected credit losses | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
Credit impaired | Financial guarantees | Lifetime expected credit losses | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
Credit impaired | Financial guarantees | Lifetime expected credit losses | Gross carrying/notional amount | IFRS 9 | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 295 | 186 |
Credit impaired | Financial guarantees | Lifetime expected credit losses | Gross carrying/notional amount | IFRS 9 | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 1 | 4 |
Credit impaired | Debt instruments measured at amortised cost | Loans and advances to customers | Gross carrying/notional amount | IFRS 9 | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 17,435 | 13,692 |
Credit impaired | Debt instruments measured at amortised cost | Loans and advances to banks | Gross carrying/notional amount | IFRS 9 | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 9 | 0 |
Credit impaired | Debt instruments measured at amortised cost | Other financial assets measured at amortised cost | Gross carrying/notional amount | IFRS 9 | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 233 | 152 |
Credit impaired | Debt instruments measured at amortised cost | 12-month expected credit losses | Loans and advances to customers | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Credit impaired | Debt instruments measured at amortised cost | 12-month expected credit losses | Loans and advances to banks | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Credit impaired | Debt instruments measured at amortised cost | 12-month expected credit losses | Other financial assets measured at amortised cost | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Credit impaired | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to customers | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Credit impaired | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to customers | Gross carrying/notional amount | IFRS 9 | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 17,139 | 13,378 |
Credit impaired | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to customers | Gross carrying/notional amount | IFRS 9 | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 296 | 314 |
Credit impaired | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to banks | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Credit impaired | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to banks | Gross carrying/notional amount | IFRS 9 | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 9 | 0 |
Credit impaired | Debt instruments measured at amortised cost | Lifetime expected credit losses | Loans and advances to banks | Gross carrying/notional amount | IFRS 9 | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Credit impaired | Debt instruments measured at amortised cost | Lifetime expected credit losses | Other financial assets measured at amortised cost | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Credit impaired | Debt instruments measured at amortised cost | Lifetime expected credit losses | Other financial assets measured at amortised cost | Gross carrying/notional amount | IFRS 9 | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 232 | 151 |
Credit impaired | Debt instruments measured at amortised cost | Lifetime expected credit losses | Other financial assets measured at amortised cost | Gross carrying/notional amount | IFRS 9 | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1 | 1 |
Credit impaired | Debt instruments at FVOCI | Gross carrying/notional amount | IFRS 9 | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 280 | 1 |
Credit impaired | Debt instruments at FVOCI | 12-month expected credit losses | Debt securities | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Credit impaired | Debt instruments at FVOCI | Lifetime expected credit losses | Debt securities | Gross carrying/notional amount | IFRS 9 | Financial instruments not credit-impaired | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Credit impaired | Debt instruments at FVOCI | Lifetime expected credit losses | Debt securities | Gross carrying/notional amount | IFRS 9 | Financial instruments credit-impaired after purchase or origination | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 280 | 0 |
Credit impaired | Debt instruments at FVOCI | Lifetime expected credit losses | Debt securities | Gross carrying/notional amount | IFRS 9 | POCI | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ 0 | $ 1 |