Cover
Cover | 12 Months Ended |
Dec. 31, 2020shares | |
Document Information [Line Items] | |
Document Type | 20-F |
Document Annual Report | true |
Document Period End Date | Dec. 31, 2020 |
Current Fiscal Year End Date | --12-31 |
Document Transition Report | false |
Document Shell Company Report | false |
Entity File Number | 001-14930 |
Entity Registrant Name | HSBC Holdings plc |
Entity Incorporation, State or Country Code | X0 |
Entity Address, Address Line One | 8 Canada Square |
Entity Address, City or Town | London |
Entity Address, Postal Zip Code | E14 5HQ |
Entity Address, Country | GB |
Shares outstanding (in shares) | 20,693,676,408 |
Entity Well-known Seasoned Issuer | Yes |
Entity Voluntary Filers | No |
Entity Current Reporting Status | Yes |
Entity Interactive Data Current | Yes |
Entity Filer Category | Large Accelerated Filer |
Entity Emerging Growth Company | false |
ICFR Auditor Attestation Flag | true |
Document Accounting Standard | International Financial Reporting Standards |
Entity Shell Company | false |
Amendment Flag | false |
Entity Central Index Key | 0001089113 |
Document Fiscal Year Focus | 2020 |
Document Fiscal Period Focus | FY |
Document Registration Statement | false |
Business Contact | |
Document Information [Line Items] | |
Entity Address, Address Line One | 8 Canada Square |
Entity Address, City or Town | London |
Entity Address, Postal Zip Code | E14 5HQ |
Entity Address, Country | GB |
Contact Personnel Name | Jonathan Bingham |
City Area Code | +44 |
Local Phone Number | (0) 20 7991 8888 |
Contact Personnel Fax Number | +44 (0) 20 7992 4880 |
Ordinary shares | |
Document Information [Line Items] | |
Title of 12(b) Security | Ordinary Shares, nominal value US$0.50 each (GB0005405286) |
Trading Symbol | HSBC |
Security Exchange Name | NYSE |
American Depository Shares, each representing 5 Ordinary Shares of nominal value US$0.50 each (US4042804066) | |
Document Information [Line Items] | |
Title of 12(b) Security | American Depository Shares, each representing 5 Ordinary Shares of nominal value US$0.50 each (US4042804066) |
Trading Symbol | HSBC |
Security Exchange Name | NYSE |
7.625% Subordinated Notes due 2032 (US404280AF65) | |
Document Information [Line Items] | |
Title of 12(b) Security | 7.625% Subordinated Notes due 2032 (US404280AF65) |
Trading Symbol | HSBC/32A |
Security Exchange Name | NYSE |
7.35% Subordinated Notes due 2032 (US404280AE90) | |
Document Information [Line Items] | |
Title of 12(b) Security | 7.35% Subordinated Notes due 2032 (US404280AE90) |
Trading Symbol | HSBC/32B |
Security Exchange Name | NYSE |
6.5% Subordinated Notes 2036 (US404280AG49) | |
Document Information [Line Items] | |
Title of 12(b) Security | 6.5% Subordinated Notes 2036 (US404280AG49) |
Trading Symbol | HSBC36 |
Security Exchange Name | NYSE |
6.5% Subordinated Notes 2037 (US404280AH22) | |
Document Information [Line Items] | |
Title of 12(b) Security | 6.5% Subordinated Notes 2037 (US404280AH22) |
Trading Symbol | HSBC37 |
Security Exchange Name | NYSE |
6.8% Subordinated Notes Due 2038 (US404280AJ87) | |
Document Information [Line Items] | |
Title of 12(b) Security | 6.8% Subordinated Notes Due 2038 (US404280AJ87) |
Trading Symbol | HSBC38 |
Security Exchange Name | NYSE |
5.10% Senior Unsecured Notes Due 2021 (US404280AK50) | |
Document Information [Line Items] | |
Title of 12(b) Security | 5.10% Senior Unsecured Notes Due 2021 (US404280AK50) |
Trading Symbol | HSBC21 |
Security Exchange Name | NYSE |
4.875% Senior Unsecured Notes Due 2022 (US404280AL34) | |
Document Information [Line Items] | |
Title of 12(b) Security | 4.875% Senior Unsecured Notes Due 2022 (US404280AL34) |
Trading Symbol | HSBC22 |
Security Exchange Name | NYSE |
6.100% Senior Unsecured Notes due 2042 (US404280AM17) | |
Document Information [Line Items] | |
Title of 12(b) Security | 6.100% Senior Unsecured Notes due 2042 (US404280AM17) |
Trading Symbol | HSBC42 |
Security Exchange Name | NYSE |
4.00% Senior Unsecured Notes Due 2022 (US404280AN99) | |
Document Information [Line Items] | |
Title of 12(b) Security | 4.00% Senior Unsecured Notes Due 2022 (US404280AN99) |
Trading Symbol | HSBC22A |
Security Exchange Name | NYSE |
4.250% Subordinated Notes due 2024 (US404280AP48) | |
Document Information [Line Items] | |
Title of 12(b) Security | 4.250% Subordinated Notes due 2024 (US404280AP48) |
Trading Symbol | HSBC24 |
Security Exchange Name | NYSE |
5.250% Subordinated Notes due 2044 (US404280AQ21) | |
Document Information [Line Items] | |
Title of 12(b) Security | 5.250% Subordinated Notes due 2044 (US404280AQ21) |
Trading Symbol | HSBC44 |
Security Exchange Name | NYSE |
4.250% Subordinated Notes due 2025 (US404280AU33) | |
Document Information [Line Items] | |
Title of 12(b) Security | 4.250% Subordinated Notes due 2025 (US404280AU33) |
Trading Symbol | HSBC25 |
Security Exchange Name | NYSE |
3.400% Senior Unsecured Notes due 2021 (US404280AV16) | |
Document Information [Line Items] | |
Title of 12(b) Security | 3.400% Senior Unsecured Notes due 2021 (US404280AV16) |
Trading Symbol | HSBC21A |
Security Exchange Name | NYSE |
4.300% Senior Unsecured Notes due 2026 (US404280AW98) | |
Document Information [Line Items] | |
Title of 12(b) Security | 4.300% Senior Unsecured Notes due 2026 (US404280AW98) |
Trading Symbol | HSBC26 |
Security Exchange Name | NYSE |
Floating Rate Senior Unsecured Notes due 2021 (US404280AX71) | |
Document Information [Line Items] | |
Title of 12(b) Security | Floating Rate Senior Unsecured Notes due 2021 (US404280AX71) |
Trading Symbol | HSBC21B |
Security Exchange Name | NYSE |
2.950% Senior Unsecured Notes due 2021 (US404280AY54) | |
Document Information [Line Items] | |
Title of 12(b) Security | 2.950% Senior Unsecured Notes due 2021 (US404280AY54) |
Trading Symbol | HSBC21C |
Security Exchange Name | NYSE |
Floating Rate Senior Unsecured Notes due 2021 (US404280AZ20) | |
Document Information [Line Items] | |
Title of 12(b) Security | Floating Rate Senior Unsecured Notes due 2021 (US404280AZ20) |
Trading Symbol | HSBC21D |
Security Exchange Name | NYSE |
3.600% Senior Unsecured Notes due 2023 (US404280BA69) | |
Document Information [Line Items] | |
Title of 12(b) Security | 3.600% Senior Unsecured Notes due 2023 (US404280BA69) |
Trading Symbol | HSBC23 |
Security Exchange Name | NYSE |
3.900% Senior Unsecured Notes due 2026 (US404280BB43) | |
Document Information [Line Items] | |
Title of 12(b) Security | 3.900% Senior Unsecured Notes due 2026 (US404280BB43) |
Trading Symbol | HSBC26A |
Security Exchange Name | NYSE |
2.650% Senior Unsecured Notes due 2022 (US404280BF56) | |
Document Information [Line Items] | |
Title of 12(b) Security | 2.650% Senior Unsecured Notes due 2022 (US404280BF56) |
Trading Symbol | HSBC22B |
Security Exchange Name | NYSE |
Floating Rate Senior Unsecured Notes due 2022 (US404280BG30) | |
Document Information [Line Items] | |
Title of 12(b) Security | Floating Rate Senior Unsecured Notes due 2022 (US404280BG30) |
Trading Symbol | HSBC22C |
Security Exchange Name | NYSE |
4.375% Subordinated Notes due 2026 (US404280BH13) | |
Document Information [Line Items] | |
Title of 12(b) Security | 4.375% Subordinated Notes due 2026 (US404280BH13) |
Trading Symbol | HSBC26B |
Security Exchange Name | NYSE |
3.262% Fixed Rate/Floating Rate Senior Unsecured Notes due 2023 (US404280BJ78) | |
Document Information [Line Items] | |
Title of 12(b) Security | 3.262% Fixed Rate/Floating Rate Senior Unsecured Notes due 2023 (US404280BJ78) |
Trading Symbol | HSBC23A |
Security Exchange Name | NYSE |
4.041% Fixed Rate/Floating Rate Senior Unsecured Notes due 2028 (US404280BK42) | |
Document Information [Line Items] | |
Title of 12(b) Security | 4.041% Fixed Rate/Floating Rate Senior Unsecured Notes due 2028 (US404280BK42) |
Trading Symbol | HSBC28 |
Security Exchange Name | NYSE |
3.033% Fixed Rate/Floating Rate Senior Unsecured Notes due 2023 (US404280BM08) | |
Document Information [Line Items] | |
Title of 12(b) Security | 3.033% Fixed Rate/Floating Rate Senior Unsecured Notes due 2023 (US404280BM08) |
Trading Symbol | HSBC23B |
Security Exchange Name | NYSE |
Floating Rate Senior Unsecured Notes due 2024 (US404280BR94) | |
Document Information [Line Items] | |
Title of 12(b) Security | Floating Rate Senior Unsecured Notes due 2024 (US404280BR94) |
Trading Symbol | HSBC24A |
Security Exchange Name | NYSE |
3.950% Fixed Rate/Floating Rate Senior Unsecured Notes due 2024 (US404280BS77) | |
Document Information [Line Items] | |
Title of 12(b) Security | 3.950% Fixed Rate/Floating Rate Senior Unsecured Notes due 2024 (US404280BS77) |
Trading Symbol | HSBC24B |
Security Exchange Name | NYSE |
4.583% Fixed Rate/Floating Rate Senior Unsecured Notes due 2029 (US404280BT50) | |
Document Information [Line Items] | |
Title of 12(b) Security | 4.583% Fixed Rate/Floating Rate Senior Unsecured Notes due 2029 (US404280BT50) |
Trading Symbol | HSBC29 |
Security Exchange Name | NYSE |
2.175% Resettable Senior Unsecured Notes due 2023 (XS1823595647) | |
Document Information [Line Items] | |
Title of 12(b) Security | 2.175% Resettable Senior Unsecured Notes due 2023 (XS1823595647) |
Trading Symbol | N/A |
Security Exchange Name | NYSE |
Floating Rate Senior Unsecured Notes due 2026 (US404280BW89) | |
Document Information [Line Items] | |
Title of 12(b) Security | Floating Rate Senior Unsecured Notes due 2026 (US404280BW89) |
Trading Symbol | HSBC26D |
Security Exchange Name | NYSE |
4.292% Fixed Rate/Floating Rate Senior Unsecured Notes due 2026 (US404280BX62) | |
Document Information [Line Items] | |
Title of 12(b) Security | 4.292% Fixed Rate/Floating Rate Senior Unsecured Notes due 2026 (US404280BX62) |
Trading Symbol | HSBC26C |
Security Exchange Name | NYSE |
3.803% Fixed Rate/Floating Rate Senior Unsecured Notes due 2025 (US404280BZ11) | |
Document Information [Line Items] | |
Title of 12(b) Security | 3.803% Fixed Rate/Floating Rate Senior Unsecured Notes due 2025 (US404280BZ11) |
Trading Symbol | HSBC25A |
Security Exchange Name | NYSE |
Floating Rate Senior Unsecured Notes due 2025 (US404280CA50) | |
Document Information [Line Items] | |
Title of 12(b) Security | Floating Rate Senior Unsecured Notes due 2025 (US404280CA50) |
Trading Symbol | HSBC25B |
Security Exchange Name | NYSE |
3.000% Resettable Senior Unsecured Notes due 2028 (XS1961843171) | |
Document Information [Line Items] | |
Title of 12(b) Security | 3.000% Resettable Senior Unsecured Notes due 2028 (XS1961843171) |
Trading Symbol | HSBC28A |
Security Exchange Name | NYSE |
3.973% Fixed Rate/Floating Rate Senior Unsecured Notes due 2030 (US404280CC17) | |
Document Information [Line Items] | |
Title of 12(b) Security | 3.973% Fixed Rate/Floating Rate Senior Unsecured Notes due 2030 (US404280CC17) |
Trading Symbol | HSBC30 |
Security Exchange Name | NYSE |
3.00% Resettable Senior Unsecured Notes due 2030 (XS2003500142) | |
Document Information [Line Items] | |
Title of 12(b) Security | 3.00% Resettable Senior Unsecured Notes due 2030 (XS2003500142) |
Trading Symbol | HSBC30A |
Security Exchange Name | NYSE |
2.633% Fixed Rate/Floating Rate Senior Unsecured Notes due 2025 (US404280CE72) | |
Document Information [Line Items] | |
Title of 12(b) Security | 2.633% Fixed Rate/Floating Rate Senior Unsecured Notes due 2025 (US404280CE72) |
Trading Symbol | HSBC25C |
Security Exchange Name | NYSE |
4.950% Fixed Rate Senior Unsecured Notes due 2030 (US404280CF48) | |
Document Information [Line Items] | |
Title of 12(b) Security | 4.950% Fixed Rate Senior Unsecured Notes due 2030(US404280CF48) |
Trading Symbol | HSBC30B |
Security Exchange Name | NYSE |
2.099% Fixed Rate/Floating Rate Senior Unsecured Notes due 2026 (US404280CG21) | |
Document Information [Line Items] | |
Title of 12(b) Security | 2.099% Fixed Rate/Floating Rate Senior Unsecured Notes due 2026(US404280CG21) |
Trading Symbol | HSBC26E |
Security Exchange Name | NYSE |
2.848% Fixed Rate/Floating Rate Senior Unsecured Notes due 2031 (US404280CH04) | |
Document Information [Line Items] | |
Title of 12(b) Security | 2.848% Fixed Rate/Floating Rate Senior Unsecured Notes due 2031(US404280CH04) |
Trading Symbol | HSBC31 |
Security Exchange Name | NYSE |
1.645% Fixed Rate/Floating Rate Senior Unsecured Notes due 2026 (US404280CJ69) | |
Document Information [Line Items] | |
Title of 12(b) Security | 1.645% Fixed Rate/Floating Rate Senior Unsecured Notes due 2026(US404280CJ69) |
Trading Symbol | HSBC26F |
Security Exchange Name | NYSE |
2.357% Fixed Rate/Floating Rate Senior Unsecured Notes due 2031 (US404280CK33) | |
Document Information [Line Items] | |
Title of 12(b) Security | 2.357% Fixed Rate/Floating Rate Senior Unsecured Notes due 2031(US404280CK33) |
Trading Symbol | HSBC31A |
Security Exchange Name | NYSE |
2.013% Fixed Rate/Floating Rate Senior Unsecured Notes due 2028 (US404280CL16) | |
Document Information [Line Items] | |
Title of 12(b) Security | 2.013% Fixed Rate/Floating Rate Senior Unsecured Notes due 2028(US404280CL16) |
Trading Symbol | HSBC28B |
Security Exchange Name | NYSE |
1.589% Fixed Rate/Floating Rate Senior Unsecured Notes due 2027 (US404280CM98) | |
Document Information [Line Items] | |
Title of 12(b) Security | 1.589% Fixed Rate/Floating Rate Senior Unsecured Notes due 2027(US404280CM98) |
Trading Symbol | HSBC27 |
Security Exchange Name | NYSE |
Consolidated income statement
Consolidated income statement - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Disclosure Of Face Statements [Line Items] | ||||
Net interest expense | $ 27,578 | $ 30,462 | $ 30,489 | |
– interest income | [1],[2] | 41,756 | 54,695 | 49,609 |
– interest expense | [3] | (14,178) | (24,233) | (19,120) |
Net fee income | 11,874 | 12,023 | 12,620 | |
– fee income | 15,051 | 15,439 | 16,044 | |
– fee expense | (3,177) | (3,416) | (3,424) | |
Net income from financial instruments held for trading or managed on a fair value basis | 9,582 | 10,231 | 9,531 | |
Net income/(expense) from assets and liabilities of insurance businesses, including related derivatives, measured at fair value through profit or loss | 2,081 | 3,478 | (1,488) | |
Changes in fair value of designated debt and related derivatives | [4] | 231 | 90 | (97) |
Changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss | 455 | 812 | 695 | |
Gains less losses from financial investments | 653 | 335 | 218 | |
Net insurance premium income | 10,093 | 10,636 | 10,659 | |
Other operating income | 527 | 2,957 | 960 | |
Total operating income | 63,074 | 71,024 | 63,587 | |
Net insurance claims and benefits paid and movement in liabilities to policyholders | (12,645) | (14,926) | (9,807) | |
Net operating income before change in expected credit losses and other credit impairment charges | 50,429 | 56,098 | 53,780 | |
Change in expected credit losses and other credit impairment charges | (8,817) | (2,756) | (1,767) | |
Net operating income | 41,612 | 53,342 | 52,013 | |
Employee compensation and benefits | (18,076) | (18,002) | (17,373) | |
General and administrative expenses | (11,115) | (13,828) | (15,353) | |
Depreciation and impairment of property, plant and equipment and right-of-use assets | [5] | (2,681) | (2,100) | (1,119) |
Amortisation and impairment of intangible assets | (2,519) | (1,070) | (814) | |
Goodwill impairment | (41) | (7,349) | 0 | |
Total operating expenses | (34,432) | (42,349) | (34,659) | |
Operating profit | 7,180 | 10,993 | 17,354 | |
Share of profit in associates and joint ventures | 1,597 | 2,354 | 2,536 | |
Profit before tax | 8,777 | 13,347 | 19,890 | |
Tax expense | (2,678) | (4,639) | (4,865) | |
Profit for the year | 6,099 | 8,708 | 15,025 | |
Attributable to: | ||||
– ordinary shareholders of the parent company | 3,898 | 5,969 | 12,608 | |
– preference shareholders of the parent company | 90 | 90 | 90 | |
– other equity holders | 1,241 | 1,324 | 1,029 | |
– non-controlling interests | 870 | 1,325 | 1,298 | |
Profit for the year | $ 6,099 | $ 8,708 | $ 15,025 | |
Basic earnings per ordinary share (in dollars per share) | $ 0.19 | $ 0.30 | $ 0.63 | |
Diluted earnings per ordinary share (in dollars per share) | $ 0.19 | $ 0.30 | $ 0.63 | |
HSBC Holdings | ||||
Disclosure Of Face Statements [Line Items] | ||||
Net interest expense | $ (2,632) | $ (2,554) | $ (1,112) | |
– interest income | 473 | 1,249 | 2,193 | |
– interest expense | (3,105) | (3,803) | (3,305) | |
Net fee income | (12) | (2) | 0 | |
Net income from financial instruments held for trading or managed on a fair value basis | 801 | 1,477 | 245 | |
Changes in fair value of designated debt and related derivatives | [6] | (326) | (360) | (77) |
Changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss | 1,141 | 1,659 | 43 | |
Gains less losses from financial investments | 0 | 0 | 4 | |
Dividend income from subsidiaries | [7] | 8,156 | 15,117 | 55,304 |
Other operating income | 1,889 | 1,293 | 960 | |
Net operating income before change in expected credit losses and other credit impairment charges | 9,017 | 16,630 | 55,367 | |
Employee compensation and benefits | (56) | (37) | (37) | |
General and administrative expenses | (4,276) | (4,772) | (4,507) | |
Impairment of subsidiaries | (435) | (2,562) | 2,064 | |
Total operating expenses | (4,767) | (7,371) | (2,480) | |
Profit before tax | 4,250 | 9,259 | 52,887 | |
Tax expense | (165) | (218) | (62) | |
Profit for the year | 4,085 | 9,041 | 52,825 | |
Attributable to: | ||||
Profit for the year | $ 4,085 | $ 9,041 | $ 52,825 | |
[1] | Interest income includes $35,293m (2019: $45,708m) of interest recognised on financial assets measured at amortised cost and $5,614m (2019: $8,259m) of interest recognised on financial assets measured at fair value through other comprehensive income. | |||
[2] | Interest revenue calculated using the effective interest method comprises interest recognised on financial assets measured at either amortised cost or fair value through other comprehensive income. | |||
[3] | Interest expense includes $12,426m (2019: $21,922m) of interest on financial instruments, excluding interest on financial liabilities held for trading or designated or otherwise mandatorily measured at fair value. | |||
[4] | The debt instruments, issued for funding purposes, are designated under the fair value option to reduce an accounting mismatch. | |||
[5] | Includes depreciation of the right-of-use assets of $1,029m (2019: $912m). Right-of-use assets have been recognised from 1 January 2019 following the adoption of IFRS 16. Comparatives have not been restated. | |||
[6] | The debt instruments, issued for funding purposes, are designated under the fair value option to reduce an accounting mismatch. | |||
[7] | The 2018 year included $44,893m (2020 and 2019: nil) return on capital from HSBC Finance (Netherlands) resulting from restructuring the Group’s Asia operation to meet resolution and recovery requirements. |
Consolidated income statement (
Consolidated income statement (Parenthetical) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Disclosure Of Face Statements [Line Items] | ||||
Interest revenue for financial assets measured at amortised cost | $ 35,293 | $ 45,708 | ||
Interest revenue for financial assets measured at fair value through other comprehensive income | 5,614 | 8,259 | ||
Interest expense for financial liabilities not at fair value through profit or loss | 12,426 | 21,922 | ||
Depreciation of right-of-use assets | 1,029 | 912 | ||
HSBC Holdings | ||||
Disclosure Of Face Statements [Line Items] | ||||
Dividend income from subsidiaries | [1] | 8,156 | 15,117 | $ 55,304 |
HSBC Finance (Netherlands) | HSBC Holdings | ||||
Disclosure Of Face Statements [Line Items] | ||||
Dividend income from subsidiaries | $ 0 | $ 0 | $ 44,893 | |
[1] | The 2018 year included $44,893m (2020 and 2019: nil) return on capital from HSBC Finance (Netherlands) resulting from restructuring the Group’s Asia operation to meet resolution and recovery requirements. |
Consolidated statement of compr
Consolidated statement of comprehensive income - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Face Statements [Line Items] | |||
Profit for the year | $ 6,099 | $ 8,708 | $ 15,025 |
Items that will be reclassified subsequently to profit or loss when specific conditions are met: | |||
Debt instruments at fair value through other comprehensive income | 1,750 | 1,152 | (243) |
– fair value gains/(losses) | 2,947 | 1,793 | (168) |
– fair value gains transferred to the income statement on disposal | (668) | (365) | (95) |
– expected credit (recoveries)/losses recognised in the income statement | 48 | 109 | (94) |
– income taxes | (577) | (385) | 114 |
Cash flow hedges | 471 | 206 | 19 |
– fair value gains/(losses) | (157) | 551 | (267) |
– fair value (gains)/losses reclassified to the income statement | 769 | (286) | 317 |
– income taxes | (141) | (59) | (31) |
Share of other comprehensive income/(expense) of associates and joint ventures | (73) | 21 | (64) |
– share for the year | (73) | 21 | (64) |
– exchange differences | 4,855 | 1,044 | (7,156) |
Items that will not be reclassified subsequently to profit or loss: | |||
Remeasurement of defined benefit asset/liability | 834 | 13 | (329) |
– before income taxes | 1,223 | (17) | (388) |
– income taxes | (389) | 30 | 59 |
Changes in fair value of financial liabilities designated at fair value upon initial recognition arising from changes in own credit risk | 167 | (2,002) | 2,847 |
– before income taxes | 190 | (2,639) | 3,606 |
– income taxes | (23) | 637 | (759) |
Equity instruments designated at fair value through other comprehensive income | 212 | 366 | (27) |
– fair value gains/(losses) | 212 | 364 | (71) |
– income taxes | 0 | 2 | 44 |
Effects of hyperinflation | 193 | 217 | 283 |
Other comprehensive income/(expense) for the year, net of tax | 8,409 | 1,017 | (4,670) |
Total comprehensive income for the year | 14,508 | 9,725 | 10,355 |
Attributable to: | |||
– ordinary shareholders of the parent company | 12,146 | 6,838 | 8,083 |
– preference shareholders of the parent company | 90 | 90 | 90 |
– other equity holders | 1,241 | 1,324 | 1,029 |
– non-controlling interests | 1,031 | 1,473 | 1,153 |
HSBC Holdings | |||
Disclosure Of Face Statements [Line Items] | |||
Profit for the year | 4,085 | 9,041 | 52,825 |
Items that will not be reclassified subsequently to profit or loss: | |||
Changes in fair value of financial liabilities designated at fair value upon initial recognition arising from changes in own credit risk | 176 | (396) | 865 |
– before income taxes | 176 | (573) | 1,090 |
– income taxes | 0 | 177 | (225) |
Other comprehensive income/(expense) for the year, net of tax | 176 | (396) | 865 |
Total comprehensive income for the year | $ 4,261 | $ 8,645 | $ 53,690 |
Consolidated balance sheet
Consolidated balance sheet - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Assets | ||
Cash and balances at central banks | $ 304,481 | $ 154,099 |
Items in the course of collection from other banks | 4,094 | 4,956 |
Hong Kong Government certificates of indebtedness | 40,420 | 38,380 |
Trading assets | 231,990 | 254,271 |
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | 45,553 | 43,627 |
Derivatives | 307,726 | 242,995 |
Loans and advances to banks and other financial institutions | 81,616 | 69,203 |
Loans and advances to customers | 1,037,987 | 1,036,743 |
Reverse repurchase agreements – non-trading | 230,628 | 240,862 |
Financial investments | 490,693 | 443,312 |
Prepayments, accrued income and other assets | 156,412 | 136,680 |
Current tax assets | 954 | 755 |
Interests in associates and joint ventures | 26,684 | 24,474 |
Goodwill and intangible assets | 20,443 | 20,163 |
Deferred tax assets | 4,483 | 4,632 |
Total assets | 2,984,164 | 2,715,152 |
Liabilities | ||
Hong Kong currency notes in circulation | 40,420 | 38,380 |
Deposits by banks | 82,080 | 59,022 |
Customer accounts | 1,642,780 | 1,439,115 |
Repurchase agreements – non-trading | 111,901 | 140,344 |
Items in the course of transmission to other banks | 4,343 | 4,817 |
Trading liabilities | 75,266 | 83,170 |
Financial liabilities designated at fair value | 157,439 | 164,466 |
Derivatives | 303,001 | 239,497 |
Debt securities in issue | 95,492 | 104,555 |
Accruals, deferred income and other liabilities | 128,624 | 118,156 |
Current tax liabilities | 690 | 2,150 |
Liabilities under insurance contracts | 107,191 | 97,439 |
Provisions | 3,678 | 3,398 |
Deferred tax liabilities | 4,313 | 3,375 |
Subordinated liabilities | 21,951 | 24,600 |
Total liabilities | 2,779,169 | 2,522,484 |
Equity | ||
Called up share capital | 10,347 | 10,319 |
Share premium account | 14,277 | 13,959 |
Other equity instruments | 22,414 | 20,871 |
Other reserves | 8,833 | 2,127 |
Retained earnings | 140,572 | 136,679 |
Total shareholders’ equity | 196,443 | 183,955 |
Non-controlling interests | 8,552 | 8,713 |
Total equity | 204,995 | 192,668 |
Total liabilities and equity | 2,984,164 | 2,715,152 |
HSBC Holdings | ||
Assets | ||
Cash and balances with HSBC undertakings | 2,913 | 2,382 |
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | 65,253 | 61,964 |
Derivatives | 4,698 | 2,002 |
Loans and advances to banks and other financial institutions | 10,443 | 10,218 |
Financial investments | 17,485 | 16,106 |
Prepayments, accrued income and other assets | 1,445 | 559 |
Current tax assets | 0 | 203 |
Investments in subsidiaries | 160,660 | 161,473 |
Intangible assets | 276 | 333 |
Total assets | 263,173 | 255,240 |
Liabilities | ||
Amounts owed to HSBC undertakings | 330 | 464 |
Financial liabilities designated at fair value | 25,664 | 30,303 |
Derivatives | 3,060 | 2,021 |
Debt securities in issue | 64,029 | 56,844 |
Accruals, deferred income and other liabilities | 4,865 | 1,915 |
Current tax liabilities | 71 | 0 |
Deferred tax liabilities | 438 | 288 |
Subordinated liabilities | 17,916 | 18,361 |
Total liabilities | 116,373 | 110,196 |
Equity | ||
Called up share capital | 10,347 | 10,319 |
Share premium account | 14,277 | 13,959 |
Other equity instruments | 22,414 | 20,743 |
Other reserves | 34,757 | 37,539 |
Retained earnings | 65,005 | 62,484 |
Total equity | 146,800 | 145,044 |
Total liabilities and equity | $ 263,173 | $ 255,240 |
Consolidated statement of cash
Consolidated statement of cash flows - USD ($) $ in Millions | 12 Months Ended | |||||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||||
Cash flows from (used in) operating activities [abstract] | ||||||
Profit before tax | $ 8,777 | $ 13,347 | $ 19,890 | |||
Adjustments for non-cash items: | ||||||
Depreciation, amortisation and impairment | 5,241 | 10,519 | 1,933 | |||
Net gain from investing activities | (541) | (399) | (126) | |||
Share of profits in associates and joint ventures | (1,597) | (2,354) | (2,536) | |||
Gain on disposal of subsidiaries, businesses, associates and joint ventures | 0 | (929) | 0 | |||
Change in expected credit losses gross of recoveries and other credit impairment charges | 9,096 | 3,012 | 2,280 | |||
Provisions including pensions | 1,164 | 2,423 | 1,944 | |||
Share-based payment expense | 433 | 478 | 450 | |||
Other non-cash items included in profit before tax | (906) | (2,297) | (1,303) | |||
Elimination of exchange differences | [1] | (25,749) | (3,742) | 4,930 | ||
Change in net trading securities and derivatives | 13,150 | (18,910) | 20,855 | |||
Change in loans and advances to banks and customers | (14,131) | (53,760) | (44,071) | |||
Change in reverse repurchase agreements – non-trading | 9,950 | (7,390) | (25,399) | |||
Change in financial assets designated and otherwise mandatorily measured at fair value | (1,962) | (2,308) | (1,515) | |||
Change in other assets | (19,610) | (21,863) | 6,766 | |||
Change in deposits by banks and customer accounts | 226,723 | 79,163 | (5,745) | |||
Change in repurchase agreements – non-trading | (28,443) | (25,540) | 35,882 | |||
Change in debt securities in issue | (9,075) | 19,268 | 18,806 | |||
Change in financial liabilities designated at fair value | (6,630) | 20,068 | 4,500 | |||
Change in other liabilities | 20,323 | 23,124 | (2,187) | |||
Dividends received from associates | 761 | 633 | 910 | |||
Contributions paid to defined benefit plans | (495) | (533) | (332) | |||
Income taxes refund (paid) | (4,259) | (2,267) | (3,417) | |||
Net cash from operating activities | 182,220 | 29,743 | 32,515 | |||
Cash flows from (used in) investing activities [abstract] | ||||||
Purchase of financial investments | (496,669) | (445,907) | (399,458) | |||
Proceeds from the sale and maturity of financial investments | 476,990 | 413,186 | 386,056 | |||
Net cash flows from the purchase and sale of property, plant and equipment | (1,446) | (1,343) | (1,196) | |||
Net cash flows from purchase/(disposal) of customer and loan portfolios | 1,362 | 1,118 | (204) | |||
Net investment in intangible assets | (2,064) | (2,289) | (1,848) | |||
Net cash flow from acquisition and disposal of subsidiaries, businesses, associates and joint ventures | (603) | (83) | 4 | |||
Net cash from investing activities | (22,430) | (35,318) | (16,646) | |||
Cash flows from (used in) financing activities [abstract] | ||||||
Issue of ordinary share capital and other equity instruments | 1,497 | 0 | 6,001 | |||
Cancellation of shares | 0 | (1,000) | (1,998) | |||
Net sales/(purchases) of own shares for market-making and investment purposes | (181) | 141 | 133 | |||
Redemption of equity instruments | (398) | 0 | (6,078) | |||
Subordinated loan capital repaid | [2] | (3,538) | (4,210) | (4,077) | ||
Dividends paid to shareholders of the parent company and non-controlling interests | (2,023) | (9,773) | (10,762) | |||
Net cash from financing activities | (4,643) | (14,842) | (16,781) | |||
Net increase/(decrease) in cash and cash equivalents | 155,147 | (20,417) | (912) | |||
Cash and cash equivalents at 1 Jan | 293,742 | [3] | 312,911 | [3] | 323,718 | |
Exchange differences in respect of cash and cash equivalents | 19,434 | 1,248 | (9,895) | |||
Cash and cash equivalents at 31 Dec | [3] | 468,323 | 293,742 | 312,911 | ||
Cash and cash equivalents comprise: | ||||||
Total cash and cash equivalents | [3] | 468,323 | 312,911 | 312,911 | ||
HSBC Holdings | ||||||
Cash flows from (used in) operating activities [abstract] | ||||||
Profit before tax | 4,250 | 9,259 | 52,887 | |||
Adjustments for non-cash items: | ||||||
Adjustments for non-cash items | 442 | 2,657 | (46,878) | |||
Depreciation, amortisation and impairment | 87 | 72 | 70 | |||
Share-based payment expense | 1 | 1 | 0 | |||
Other non-cash items included in profit before tax | [4] | 354 | 2,584 | (46,948) | ||
Change in loans to HSBC undertakings | (327) | 41,471 | 7,293 | |||
Change in financial assets with HSBC undertakings designated and otherwise mandatorily measured at fair value | (3,289) | (38,451) | (7,305) | |||
Change in net trading securities and derivatives | (1,657) | (1,433) | 758 | |||
Change in other assets | (633) | (437) | 231 | |||
Change in financial investments | 449 | (70) | 0 | |||
Change in debt securities in issue | 3,063 | 1,899 | (1,094) | |||
Change in financial liabilities designated at fair value | 1,258 | 1,227 | (740) | |||
Change in other liabilities | 1,366 | 437 | (1,883) | |||
Income taxes refund (paid) | 270 | 459 | 301 | |||
Net cash from operating activities | 5,192 | 17,018 | 3,570 | |||
Cash flows from (used in) investing activities [abstract] | ||||||
Purchase of financial investments | (11,652) | (19,293) | 0 | |||
Proceeds from the sale and maturity of financial investments | 9,342 | 6,755 | 0 | |||
Net cash outflow from acquisition of or increase in stake of subsidiaries | (2,558) | (3,721) | (8,992) | |||
Repayment of capital from subsidiaries | 1,516 | 0 | 3,627 | |||
Net investment in intangible assets | (33) | (44) | (121) | |||
Net cash from investing activities | (3,385) | (16,303) | (5,486) | |||
Cash flows from (used in) financing activities [abstract] | ||||||
Issue of ordinary share capital and other equity instruments | 1,846 | 500 | 6,652 | |||
Cancellation of shares | 0 | (1,006) | (1,998) | |||
Redemption of equity instruments | 0 | 0 | (6,093) | |||
Subordinated loan capital repaid | (1,500) | (4,107) | (1,972) | |||
Debt securities issued | 15,951 | 10,817 | 19,513 | |||
Debt securities repaid | (16,577) | 0 | (1,025) | |||
Dividends paid on ordinary shares | 0 | (7,582) | (8,693) | |||
Dividends paid to holders of other equity instruments | (1,331) | (1,414) | (1,360) | |||
Net cash from financing activities | (1,611) | (2,792) | 5,024 | |||
Net increase/(decrease) in cash and cash equivalents | 196 | (2,077) | 3,108 | |||
Cash and cash equivalents at 1 Jan | 5,980 | 8,057 | 4,949 | |||
Cash and cash equivalents at 31 Dec | 6,176 | 5,980 | 8,057 | |||
Cash and cash equivalents comprise: | ||||||
Total cash and cash equivalents | $ 5,980 | $ 8,057 | $ 8,057 | |||
[1] | Adjustment to bring changes between opening and closing balance sheet amounts to average rates. This is not done on a line-by-line basis, as details cannot be determined without unreasonable expense. | |||||
[2] | Subordinated liabilities changes during the year are attributable to repayments of $(3.5)bn (2019: $(4.2)bn; 2018: $(4.1)bn) of securities. Non-cash changes during the year included foreign exchange gains/(losses) of $0.5bn (2019: $0.6bn; 2018: $(0.6)bn) and fair value gains/(losses) of $1.1bn (2019: $1.4bn; 2018: $(1.4)bn). | |||||
[3] | At 31 December 2020, $41,912m (2019: $35,735m; 2018: $26,282m) was not available for use by HSBC, of which $16,935m (2019: $19,353m; 2018: $19,755m) related to mandatory deposits at central banks. | |||||
[4] | The 2018 year included $44,893m (2020 and 2019: nil) return on capital from HSBC Finance (Netherlands) resulting from restructuring the Group’s Asia operation to meet resolution and recovery requirements. |
Consolidated statement of cas_2
Consolidated statement of cash flows (Parenthetical) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Disclosure Of Face Statements [Line Items] | ||||
Interest received | $ 45,578 | $ 58,627 | $ 45,291 | |
Interest paid | 17,740 | 27,384 | 14,172 | |
Dividends received | 1,158 | 2,369 | 1,702 | |
Other non-cash items included in profit before tax | (906) | (2,297) | (1,303) | |
Repayment of securities | (3,500) | (4,200) | (4,100) | |
Foreign exchange gain (loss) | 500 | 600 | (600) | |
Fair value gain (loss) | 1,100 | 1,400 | (1,400) | |
Restricted cash and cash equivalents | 41,912 | 35,735 | 26,282 | |
Mandatory reserve deposits at central banks | 16,935 | 19,353 | 19,755 | |
HSBC Holdings | ||||
Disclosure Of Face Statements [Line Items] | ||||
Interest received | 1,952 | 2,216 | 2,116 | |
Interest paid | 3,166 | 3,819 | 3,379 | |
Dividends received | 8,156 | 15,117 | 10,411 | |
Other non-cash items included in profit before tax | [1] | 354 | 2,584 | (46,948) |
HSBC Holdings | HSBC Finance (Netherlands) | ||||
Disclosure Of Face Statements [Line Items] | ||||
Other non-cash items included in profit before tax | $ 0 | $ 0 | $ 44,893 | |
[1] | The 2018 year included $44,893m (2020 and 2019: nil) return on capital from HSBC Finance (Netherlands) resulting from restructuring the Group’s Asia operation to meet resolution and recovery requirements. |
Consolidated statement of chang
Consolidated statement of changes in equity - USD ($) $ 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 | [4] | Non-controlling interests | HSBC Holdings | HSBC HoldingsCalled up share capital | HSBC HoldingsShare premium | HSBC HoldingsOther equity instruments | HSBC HoldingsRetained earnings | [1] | HSBC HoldingsFinancial assets at FVOCI reserve | HSBC HoldingsMerger and other reserves | ||||||||||
Equity beginning of period (Previously stated) at Dec. 31, 2017 | $ 103,787 | $ 10,160 | $ 10,177 | $ 22,107 | $ 23,903 | $ 59 | $ 37,381 | ||||||||||||||||||||||
Equity beginning of period (Increase (decrease) due to changes in accounting policy required by IFRSs) at Dec. 31, 2017 | 890 | 949 | (59) | ||||||||||||||||||||||||||
Equity beginning of period at Dec. 31, 2017 | $ 196,224 | $ 188,644 | $ 20,337 | $ 22,250 | $ 139,414 | [2],[3] | $ (1,371) | $ (222) | $ (19,072) | $ 27,308 | $ 7,580 | 104,677 | 10,160 | 10,177 | 22,107 | 24,852 | 37,381 | ||||||||||||
Profit for the year | 15,025 | 13,727 | 13,727 | [2],[3] | 1,298 | 52,825 | 52,825 | ||||||||||||||||||||||
Other comprehensive income/(expense) for the year, net of tax | (4,670) | (4,525) | 2,765 | [2],[3] | (245) | 16 | (7,061) | (145) | 865 | 865 | |||||||||||||||||||
– debt instruments at fair value through other comprehensive income | (243) | (245) | (245) | 2 | |||||||||||||||||||||||||
equity instruments designated at fair value through other comprehensive income | (27) | (27) | |||||||||||||||||||||||||||
– cash flow hedges | 19 | 16 | 16 | 3 | |||||||||||||||||||||||||
– changes in fair value of financial liabilities designated at fair value upon initial recognition arising from changes in own credit risk | 2,847 | 2,847 | 2,847 | [2],[3] | 865 | 865 | |||||||||||||||||||||||
– remeasurement of defined benefit asset/liability | (329) | (301) | (301) | [2],[3] | (28) | ||||||||||||||||||||||||
– share of other comprehensive income of associates and joint ventures | (64) | (64) | (64) | [2],[3] | |||||||||||||||||||||||||
– effects of hyperinflation | 283 | 283 | 283 | [2],[3] | |||||||||||||||||||||||||
– exchange differences | (7,156) | (7,061) | (7,061) | (95) | |||||||||||||||||||||||||
Total comprehensive income for the year | 10,355 | 9,202 | 16,492 | [2],[3] | (245) | 16 | (7,061) | 1,153 | 53,690 | 53,690 | |||||||||||||||||||
Shares issued under employee remuneration and share plans | 111 | 111 | 721 | (610) | [2],[3] | 721 | 42 | 679 | |||||||||||||||||||||
Shares issued in lieu of dividends and amounts arising thereon | 1,494 | 1,494 | 1,494 | [2],[3] | 1,494 | 83 | (83) | 1,494 | |||||||||||||||||||||
Capital securities issued | 5,968 | [5] | 5,968 | [5] | 5,968 | [5] | 5,967 | ||||||||||||||||||||||
Dividends to shareholders | (12,257) | (11,547) | (11,547) | [2],[3] | (710) | (11,547) | (11,547) | ||||||||||||||||||||||
Redemption of securities | (6,088) | [6] | (6,088) | [6] | (5,851) | [6] | (237) | [2],[3],[6] | (6,079) | (5,843) | (236) | ||||||||||||||||||
Transfers | 0 | [7] | (2,200) | [2],[3],[7] | 2,200 | [7] | 0 | [8] | (2,200) | [8] | 2,200 | [8] | |||||||||||||||||
Shares issued under HSBC employee share plans | 450 | 450 | 450 | [2],[3] | |||||||||||||||||||||||||
Cancellation of shares | (1,998) | [9] | (1,998) | [9] | 2,731 | [9] | (4,998) | [2],[3],[9] | 269 | [9] | (1,998) | [10] | (105) | [10] | 2,836 | [10] | 5,967 | (4,998) | [10] | 269 | [10] | ||||||||
Other movements | (10) | 17 | (67) | [2],[3] | 84 | (27) | 428 | 379 | 49 | ||||||||||||||||||||
Equity end of period at Dec. 31, 2018 | 194,249 | 186,253 | 23,789 | 22,367 | 138,191 | [2],[3] | (1,532) | (206) | (26,133) | 29,777 | [3] | 7,996 | 147,353 | 10,180 | 13,609 | 22,231 | 61,434 | 0 | 39,899 | ||||||||||
– debt instruments at fair value through other comprehensive income | (243) | (245) | (245) | 2 | |||||||||||||||||||||||||
– changes in fair value of financial liabilities designated at fair value upon initial recognition arising from changes in own credit risk | 2,847 | 2,847 | 2,847 | [2],[3] | 865 | 865 | |||||||||||||||||||||||
Profit for the year | 8,708 | 7,383 | 7,383 | [2],[3] | 1,325 | 9,041 | 9,041 | ||||||||||||||||||||||
Other comprehensive income/(expense) for the year, net of tax | 1,017 | 869 | (1,759) | [2],[3] | 1,424 | 204 | 1,000 | 148 | (396) | (396) | |||||||||||||||||||
– debt instruments at fair value through other comprehensive income | 1,152 | 1,146 | 1,146 | 6 | |||||||||||||||||||||||||
equity instruments designated at fair value through other comprehensive income | 366 | 278 | 278 | 88 | |||||||||||||||||||||||||
– cash flow hedges | 206 | 204 | 204 | 2 | |||||||||||||||||||||||||
– changes in fair value of financial liabilities designated at fair value upon initial recognition arising from changes in own credit risk | (2,002) | (2,002) | (2,002) | [2],[3] | (396) | (396) | |||||||||||||||||||||||
– remeasurement of defined benefit asset/liability | 13 | 5 | 5 | [2],[3] | 8 | ||||||||||||||||||||||||
– share of other comprehensive income of associates and joint ventures | 21 | 21 | 21 | [2],[3] | |||||||||||||||||||||||||
– effects of hyperinflation | 217 | 217 | 217 | [2],[3] | |||||||||||||||||||||||||
– exchange differences | 1,044 | 1,000 | 1,000 | 44 | |||||||||||||||||||||||||
Total comprehensive income for the year | 9,725 | 8,252 | 5,624 | [2],[3] | 1,424 | 204 | 1,000 | 1,473 | 8,645 | 8,645 | |||||||||||||||||||
Shares issued under employee remuneration and share plans | 62 | 62 | 557 | (495) | [2],[3] | 501 | 36 | 521 | (56) | ||||||||||||||||||||
Shares issued in lieu of dividends and amounts arising thereon | 2,687 | 2,687 | 2,687 | [2],[3] | 2,687 | 171 | (171) | 2,687 | |||||||||||||||||||||
Capital securities issued | 0 | ||||||||||||||||||||||||||||
Dividends to shareholders | (12,460) | (11,683) | (11,683) | [2],[3] | (777) | (11,683) | (11,683) | ||||||||||||||||||||||
Redemption of securities | (1,508) | [6] | (1,508) | [6] | (1,496) | [6] | (12) | [2],[3],[6] | (1,508) | (1,488) | (20) | ||||||||||||||||||
Transfers | 0 | [7] | 2,475 | [2],[3],[7] | (2,475) | [3],[7] | 0 | [8] | 2,475 | [8] | (2,475) | [8] | |||||||||||||||||
Shares issued under HSBC employee share plans | 478 | 478 | 478 | [2],[3] | |||||||||||||||||||||||||
Cancellation of shares | (1,000) | [9] | (1,000) | [9] | (68) | [9] | (1,000) | [2],[3],[9] | 68 | [3],[9] | (1,000) | [11] | (68) | [11] | (1,000) | [11] | 68 | [11] | |||||||||||
Other movements | 435 | 414 | 414 | [2],[3] | 21 | 49 | 2 | 47 | |||||||||||||||||||||
Equity end of period at Dec. 31, 2019 | 192,668 | 183,955 | 24,278 | 20,871 | 136,679 | [2],[3] | (108) | (2) | (25,133) | 27,370 | [3] | 8,713 | 145,044 | 10,319 | 13,959 | 20,743 | 62,484 | 0 | 37,539 | ||||||||||
– debt instruments at fair value through other comprehensive income | 1,152 | 1,146 | 1,146 | 6 | |||||||||||||||||||||||||
– changes in fair value of financial liabilities designated at fair value upon initial recognition arising from changes in own credit risk | (2,002) | (2,002) | (2,002) | [2],[3] | (396) | (396) | |||||||||||||||||||||||
Profit for the year | 6,099 | 5,229 | 5,229 | [2],[3] | 870 | 4,085 | 4,085 | ||||||||||||||||||||||
Other comprehensive income/(expense) for the year, net of tax | 8,409 | 8,248 | 1,118 | [2],[3] | 1,913 | 459 | 4,758 | 161 | 176 | 176 | |||||||||||||||||||
– debt instruments at fair value through other comprehensive income | 1,750 | 1,746 | 1,746 | 4 | |||||||||||||||||||||||||
equity instruments designated at fair value through other comprehensive income | 212 | 167 | 167 | 45 | |||||||||||||||||||||||||
– cash flow hedges | 471 | 459 | 459 | 12 | |||||||||||||||||||||||||
– changes in fair value of financial liabilities designated at fair value upon initial recognition arising from changes in own credit risk | 167 | 167 | 167 | [2],[3] | 176 | 176 | |||||||||||||||||||||||
– remeasurement of defined benefit asset/liability | 834 | 831 | 831 | [2],[3] | 3 | ||||||||||||||||||||||||
– share of other comprehensive income of associates and joint ventures | (73) | (73) | (73) | [2],[3] | |||||||||||||||||||||||||
– effects of hyperinflation | 193 | 193 | 193 | [2],[3] | |||||||||||||||||||||||||
– exchange differences | 4,855 | 4,758 | 4,758 | 97 | |||||||||||||||||||||||||
Total comprehensive income for the year | 14,508 | 13,477 | 6,347 | [2],[3] | 1,913 | 459 | 4,758 | 1,031 | 4,261 | 4,261 | |||||||||||||||||||
Shares issued under employee remuneration and share plans | 7 | 7 | 346 | (339) | [2],[3] | 539 | 28 | 318 | 2,540 | (2,347) | |||||||||||||||||||
Capital securities issued | 1,497 | [5] | 1,497 | [5] | 1,500 | [5] | (3) | [5] | 1,485 | 1,500 | (15) | ||||||||||||||||||
Dividends to shareholders | (2,023) | (1,331) | (1,331) | [2],[3] | (692) | (1,331) | (1,331) | ||||||||||||||||||||||
Redemption of securities | (1,450) | [6] | (1,450) | [6] | (1,450) | [6] | (1,450) | (1,450) | |||||||||||||||||||||
Transfers | 0 | [7] | 435 | [7] | (435) | [3],[7] | 0 | [8] | 435 | [8] | (435) | [8] | |||||||||||||||||
Shares issued under HSBC employee share plans | 434 | 434 | 434 | [2],[3] | |||||||||||||||||||||||||
Other movements | (646) | (146) | 43 | (200) | [2],[3] | 11 | (500) | (1,748) | [12] | 171 | [12] | (1,919) | [12] | ||||||||||||||||
Equity end of period at Dec. 31, 2020 | 204,995 | 196,443 | $ 24,624 | $ 22,414 | 140,572 | [2],[3] | 1,816 | $ 457 | $ (20,375) | $ 26,935 | [3] | 8,552 | 146,800 | $ 10,347 | $ 14,277 | $ 22,414 | 65,005 | $ 0 | $ 34,757 | ||||||||||
– debt instruments at fair value through other comprehensive income | 1,750 | 1,746 | $ 1,746 | $ 4 | |||||||||||||||||||||||||
– changes in fair value of financial liabilities designated at fair value upon initial recognition arising from changes in own credit risk | $ 167 | $ 167 | $ 167 | [2],[3] | $ 176 | $ 176 | |||||||||||||||||||||||
[1] | At 31 December 2020, retained earnings included 326,766,253 ($2,521m) treasury shares (2019: 326,191,804 ($2,543m); 2018: 326,503,319 ($2,546m)). | ||||||||||||||||||||||||||||
[2] | At 31 December 2020, retained earnings included 509,825,249 treasury shares (2019: 432,108,782; 2018: 379,926,645). In addition, treasury shares are also held within HSBC’s Insurance business retirement funds for the benefit of policyholders or beneficiaries within employee trusts for the settlement of shares expected to be delivered under employee share schemes or bonus plans, and the market-making activities in Global Markets. | ||||||||||||||||||||||||||||
[3] | Cumulative goodwill amounting to $5,138m has been charged against reserves in respect of acquisitions of subsidiaries prior to 1 January 1998, including $3,469m charged against the merger reserve arising on the acquisition of HSBC Bank plc. The balance of $1,669m has been charged against retained earnings. | ||||||||||||||||||||||||||||
[4] | Statutory share premium relief under section 131 of the Companies Act 1985 (the ‘Act’) was taken in respect of the acquisition of HSBC Bank plc in 1992, HSBC Continental Europe in 2000 and HSBC Finance Corporation in 2003, and the shares issued were recorded at their nominal value only. In HSBC’s consolidated financial statements, the fair value differences of $8,290m in respect of HSBC Continental Europe and $12,768m in respect of HSBC Finance Corporation were recognised in the merger reserve. The merger reserve created on the acquisition of HSBC Finance Corporation subsequently became attached to HSBC Overseas Holdings (UK) Limited (‘HOHU’), following a number of intra-Group reorganisations. During 2009, pursuant to section 131 of the Companies Act 1985, statutory share premium relief was taken in respect of the rights issue and $15,796m was recognised in the merger reserve. | ||||||||||||||||||||||||||||
[5] | During 2020 HSBC Holdings issued $1,500m of perpetual subordinated contingent convertible securities. In 2018, HSBC Holdings issued $4,150m, £1,000m and SGD750m of perpetual subordinated contingent convertible capital securities on which there were $60m of external issuance costs, $49m of intra-Group issuance costs and $11m of tax benefits. Under IFRSs these issuance costs and tax benefits are classified as equity. | ||||||||||||||||||||||||||||
[6] | During 2020, HSBC Holdings called $1,450m 6.20% non-cumulative US dollar preference shares. For further details, see Note 31 in the Annual Report and Accounts 2020 . In 2019, HSBC Holdings redeemed $1,500m 5.625% perpetual subordinated capital securities on which there were $12m of external issuance costs. In 2018, HSBC Holdings redeemed $2,200m 8.125% perpetual subordinated capital securities and its $3,800m 8.000% perpetual subordinated capital securities, Series 2, on which there were $172m of external issuance costs and $23m of intra-Group issuance costs wound down. Under IFRSs external issuance costs are classified as equity. | ||||||||||||||||||||||||||||
[7] | Permitted transfers from the merger reserve to retained earnings were made when the investment in HSBC Overseas Holdings (UK) Limited was previously impaired. In 2018, a part reversal of this impairment resulted in a transfer from retained earnings back to the merger reserve of $2,200m. 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. During 2020, a further impairment of $435m was recognised and a permitted transfer of this amount was made from the merger reserve to retained earnings. | ||||||||||||||||||||||||||||
[8] | At 31 December 2020, an impairment of $435m of HSBC Overseas Holdings (UK) Limited (2019: $2,475m) was recognised and a permitted transfer of $435m (2019: $2,475m) was made from the merger reserve to retained earnings. In 2018, a part reversal of the impairment of HSBC Overseas Holdings (UK) Limited resulted in a transfer from retained earnings back to the merger reserve of $2,200m | ||||||||||||||||||||||||||||
[9] | For further details, see Note 31 in the Annual Report and Accounts 2020. In August 2019, HSBC announced a share buy-back of up to $1.0bn, which was completed in September 2019. In May 2018, HSBC announced a share buy-back of up to $2.0bn, which was completed in August 2018. | ||||||||||||||||||||||||||||
[10] | The 2018 year included a re-presentation of the cancellation of shares to retained earnings and capital redemption reserve in respect of the 2018 share buy-back, under which retained earnings has been reduced by $3,000m, share premium increased by $2,836m and other reserves increased by $164m. | ||||||||||||||||||||||||||||
[11] | In August 2019, HSBC announced a share buy-back of up to $1.0bn, which was completed in September 2019. | ||||||||||||||||||||||||||||
[12] | Includes an adjustment to retained earnings for a repayment of capital by a subsidiary of $1,650m, which had been recognised as dividend income in 2019. |
Consolidated statement of cha_2
Consolidated statement of changes in equity (Parenthetical) | 12 Months Ended | |||||||||||
Dec. 31, 2020USD ($)$ / sharesshares | Dec. 31, 2019USD ($)$ / sharesshares | Dec. 31, 2018USD ($)$ / sharesshares | Sep. 30, 2020USD ($) | Aug. 31, 2019USD ($) | May 31, 2018USD ($) | Dec. 31, 2009USD ($) | Dec. 31, 2003USD ($) | Dec. 31, 2000USD ($) | ||||
Redemption of securities | $ 1,450,000,000 | [1] | $ 1,508,000,000 | [1] | $ 6,088,000,000 | [1] | ||||||
Cumulative goodwill | 5,138,000,000 | |||||||||||
Transfers | $ 0 | [2] | $ 0 | [2] | $ 0 | [2] | ||||||
Dividends paid on ordinary shares per share (in dollars per share) | $ / shares | $ 0 | $ 0.51 | $ 0.51 | |||||||||
Profit for the year | $ 6,099,000,000 | $ 8,708,000,000 | $ 15,025,000,000 | |||||||||
Cancellation of shares | (1,000,000,000) | [3] | (1,998,000,000) | [3] | ||||||||
Total equity | 204,995,000,000 | $ 192,668,000,000 | $ 194,249,000,000 | |||||||||
Preference shares | ||||||||||||
Redemption of securities | $ 1,450,000,000 | |||||||||||
Other equity instruments interest rate | 6.20% | |||||||||||
Number of shares outstanding | shares | 1,450,000 | 1,450,000 | ||||||||||
GBP 1,000m 5.875% Perpetual Subordinated Contingent Convertible Securities | ||||||||||||
Other equity instruments interest rate | 5.875% | |||||||||||
SGD 750m 5.000% Perpetual Subordinated Contingent Convertible Securities | ||||||||||||
Other equity instruments interest rate | 5.00% | |||||||||||
8.125% Perpetual Subordinated Capital Securities | ||||||||||||
Notional amount | $ 2,200 | |||||||||||
Other equity instruments interest rate | 8.125% | |||||||||||
8.000% Perpetual Subordinated Capital Securities, Series 2 | ||||||||||||
Notional amount | $ 3,800 | |||||||||||
Other equity instruments interest rate | 8.00% | |||||||||||
Contingent convertible securities | GBP 1,000m 5.875% Perpetual Subordinated Contingent Convertible Securities | ||||||||||||
Other equity instruments interest rate | 5.875% | |||||||||||
Contingent convertible securities | SGD 750m 5.000% Perpetual Subordinated Contingent Convertible Securities | ||||||||||||
Other equity instruments interest rate | 5.00% | |||||||||||
Treasury shares | ||||||||||||
Number of shares outstanding | shares | 509,825,249 | 432,108,782 | 379,926,645 | |||||||||
Merger and other reserves | ||||||||||||
Cumulative goodwill | $ 3,469,000,000 | |||||||||||
Cumulative acquisition value | $ 15,796,000,000 | |||||||||||
Transfers | (435,000,000) | [2],[4],[5] | $ (2,475,000,000) | [2],[4],[5] | $ 2,200,000,000 | [2],[5] | ||||||
Cancellation of shares | 68,000,000 | [3],[4],[5] | 269,000,000 | [3],[5] | ||||||||
Total equity | 26,935,000,000 | [4],[5] | 27,370,000,000 | [4],[5] | 29,777,000,000 | [4],[5] | ||||||
Merger and other reserves | HSBC Continental Europe | ||||||||||||
Cumulative acquisition value | $ 8,290,000,000 | |||||||||||
Merger and other reserves | HSBC Finance Corporation | ||||||||||||
Cumulative acquisition value | $ 12,768,000,000 | |||||||||||
Retained earnings | ||||||||||||
Redemption of securities | 1,450,000,000 | [1] | 12,000,000 | [1],[4],[6] | 237,000,000 | [1],[4],[6] | ||||||
Cumulative goodwill | 1,669,000,000 | |||||||||||
Transfers | 435,000,000 | [2] | 2,475,000,000 | [2],[4],[6] | (2,200,000,000) | [2],[4],[6] | ||||||
Profit for the year | 5,229,000,000 | [4],[6] | 7,383,000,000 | [4],[6] | 13,727,000,000 | [4],[6] | ||||||
Cancellation of shares | (1,000,000,000) | [3],[4],[6] | (4,998,000,000) | [3],[4],[6] | ||||||||
Total equity | 140,572,000,000 | [4],[6] | 136,679,000,000 | [4],[6] | 138,191,000,000 | [4],[6] | ||||||
HSBC Holdings | ||||||||||||
Redemption of securities | 1,450,000,000 | 1,508,000,000 | 6,079,000,000 | |||||||||
Transfers | 0 | [7] | $ 0 | [7] | $ 0 | [7] | ||||||
Dividends paid on ordinary shares per share (in dollars per share) | $ / shares | $ 0.51 | $ 0.51 | ||||||||||
Profit for the year | 4,085,000,000 | $ 9,041,000,000 | $ 52,825,000,000 | |||||||||
Cancellation of shares | (1,000,000,000) | [8] | (1,998,000,000) | [9] | ||||||||
Total equity | 146,800,000,000 | 145,044,000,000 | 147,353,000,000 | |||||||||
HSBC Holdings | HSBC Overseas Holdings (UK) Limited | ||||||||||||
Impairment loss | 435,000,000 | |||||||||||
HSBC Holdings | Contingent convertible securities | ||||||||||||
Notional amount | $ 1,500,000,000 | |||||||||||
Payments for debt issue costs | 60,000,000 | |||||||||||
Intercompany debt issue costs | 49,000,000 | |||||||||||
Tax effect of issuance of contingent convertible securities | 11,000,000 | |||||||||||
HSBC Holdings | Contingent convertible securities | $4,150m Perpetual Subordinated Contingent Convertible Securities | ||||||||||||
Notional amount | 4,150,000,000 | |||||||||||
HSBC Holdings | Capital securities classified as equity | ||||||||||||
Payments for debt issue costs | 172,000,000 | |||||||||||
Intercompany debt issue costs | 23,000,000 | |||||||||||
HSBC Holdings | Capital securities classified as equity | 8.125% Perpetual Subordinated Capital Securities | ||||||||||||
Notional amount | 1,500,000,000 | $ 2,200,000,000 | ||||||||||
Payments for debt issue costs | $ 12,000,000 | |||||||||||
Other equity instruments interest rate | 5.625% | 812.50% | ||||||||||
HSBC Holdings | Capital securities classified as equity | 8.000% Perpetual Subordinated Capital Securities, Series 2 | ||||||||||||
Notional amount | $ 3,800,000,000 | |||||||||||
Other equity instruments interest rate | 8.00% | |||||||||||
HSBC Holdings | Treasury shares | ||||||||||||
Number of shares outstanding | shares | 326,766,253 | 326,191,804 | 326,503,319 | |||||||||
Total equity | $ 2,521,000,000 | $ 2,543,000,000 | $ 2,546,000,000 | |||||||||
HSBC Holdings | Merger and other reserves | ||||||||||||
Transfers | (435,000,000) | [7] | (2,475,000,000) | [7] | 2,200,000,000 | [7] | ||||||
Cancellation of shares | 68,000,000 | [8] | 269,000,000 | [9] | ||||||||
Total equity | 34,757,000,000 | 37,539,000,000 | 39,899,000,000 | |||||||||
HSBC Holdings | Retained earnings | ||||||||||||
Redemption of securities | 1,450,000,000 | [10] | 20,000,000 | [10] | 236,000,000 | [10] | ||||||
Transfers | 435,000,000 | [7],[10] | 2,475,000,000 | [7],[10] | (2,200,000,000) | [7],[10] | ||||||
Profit for the year | 4,085,000,000 | [10] | 9,041,000,000 | [10] | 52,825,000,000 | [10] | ||||||
Cancellation of shares | (1,000,000,000) | [8],[10] | (4,998,000,000) | [9],[10] | ||||||||
Total equity | 65,005,000,000 | [10] | 62,484,000,000 | [10] | 61,434,000,000 | [10] | ||||||
Subsidiaries' repayment of capital invested | 1,650,000,000 | |||||||||||
HSBC Holdings | Share premium | ||||||||||||
Cancellation of shares | 2,836,000,000 | [9] | ||||||||||
Total equity | $ 14,277,000,000 | 13,959,000,000 | $ 13,609,000,000 | |||||||||
2017 Share Buy-Back Program | HSBC Holdings | Merger and other reserves | ||||||||||||
Cancellation of shares | 164,000,000 | |||||||||||
2017 Share Buy-Back Program | HSBC Holdings | Retained earnings | ||||||||||||
Cancellation of shares | (3,000,000,000) | |||||||||||
2017 Share Buy-Back Program | HSBC Holdings | Share premium | ||||||||||||
Cancellation of shares | $ 2,836,000,000 | |||||||||||
August 2019 Share Buy Back Program | ||||||||||||
Authorized amount for share buy-back program | $ 1,000,000,000 | |||||||||||
August 2019 Share Buy Back Program | HSBC Holdings | ||||||||||||
Authorized amount for share buy-back program | $ 1,000,000,000 | |||||||||||
May 2018 Share Buy-Back Program | ||||||||||||
Authorized amount for share buy-back program | $ 2,000,000,000 | |||||||||||
[1] | During 2020, HSBC Holdings called $1,450m 6.20% non-cumulative US dollar preference shares. For further details, see Note 31 in the Annual Report and Accounts 2020 . In 2019, HSBC Holdings redeemed $1,500m 5.625% perpetual subordinated capital securities on which there were $12m of external issuance costs. In 2018, HSBC Holdings redeemed $2,200m 8.125% perpetual subordinated capital securities and its $3,800m 8.000% perpetual subordinated capital securities, Series 2, on which there were $172m of external issuance costs and $23m of intra-Group issuance costs wound down. Under IFRSs external issuance costs are classified as equity. | |||||||||||
[2] | Permitted transfers from the merger reserve to retained earnings were made when the investment in HSBC Overseas Holdings (UK) Limited was previously impaired. In 2018, a part reversal of this impairment resulted in a transfer from retained earnings back to the merger reserve of $2,200m. 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. During 2020, a further impairment of $435m was recognised and a permitted transfer of this amount was made from the merger reserve to retained earnings. | |||||||||||
[3] | For further details, see Note 31 in the Annual Report and Accounts 2020. In August 2019, HSBC announced a share buy-back of up to $1.0bn, which was completed in September 2019. In May 2018, HSBC announced a share buy-back of up to $2.0bn, which was completed in August 2018. | |||||||||||
[4] | Cumulative goodwill amounting to $5,138m has been charged against reserves in respect of acquisitions of subsidiaries prior to 1 January 1998, including $3,469m charged against the merger reserve arising on the acquisition of HSBC Bank plc. The balance of $1,669m has been charged against retained earnings. | |||||||||||
[5] | Statutory share premium relief under section 131 of the Companies Act 1985 (the ‘Act’) was taken in respect of the acquisition of HSBC Bank plc in 1992, HSBC Continental Europe in 2000 and HSBC Finance Corporation in 2003, and the shares issued were recorded at their nominal value only. In HSBC’s consolidated financial statements, the fair value differences of $8,290m in respect of HSBC Continental Europe and $12,768m in respect of HSBC Finance Corporation were recognised in the merger reserve. The merger reserve created on the acquisition of HSBC Finance Corporation subsequently became attached to HSBC Overseas Holdings (UK) Limited (‘HOHU’), following a number of intra-Group reorganisations. During 2009, pursuant to section 131 of the Companies Act 1985, statutory share premium relief was taken in respect of the rights issue and $15,796m was recognised in the merger reserve. | |||||||||||
[6] | At 31 December 2020, retained earnings included 509,825,249 treasury shares (2019: 432,108,782; 2018: 379,926,645). In addition, treasury shares are also held within HSBC’s Insurance business retirement funds for the benefit of policyholders or beneficiaries within employee trusts for the settlement of shares expected to be delivered under employee share schemes or bonus plans, and the market-making activities in Global Markets. | |||||||||||
[7] | At 31 December 2020, an impairment of $435m of HSBC Overseas Holdings (UK) Limited (2019: $2,475m) was recognised and a permitted transfer of $435m (2019: $2,475m) was made from the merger reserve to retained earnings. In 2018, a part reversal of the impairment of HSBC Overseas Holdings (UK) Limited resulted in a transfer from retained earnings back to the merger reserve of $2,200m | |||||||||||
[8] | In August 2019, HSBC announced a share buy-back of up to $1.0bn, which was completed in September 2019. | |||||||||||
[9] | The 2018 year included a re-presentation of the cancellation of shares to retained earnings and capital redemption reserve in respect of the 2018 share buy-back, under which retained earnings has been reduced by $3,000m, share premium increased by $2,836m and other reserves increased by $164m. | |||||||||||
[10] | At 31 December 2020, retained earnings included 326,766,253 ($2,521m) treasury shares (2019: 326,191,804 ($2,543m); 2018: 326,503,319 ($2,546m)). |
Basis of preparation and signif
Basis of preparation and significant accounting policies | 12 Months Ended |
Dec. 31, 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 The consolidated financial statements of HSBC and the separate financial statements of HSBC Holdings comply with international accounting standards in conformity with the requirements of the Companies Act 2006 and have also applied international financial reporting standards adopted pursuant to Regulation (EC) No 1606/2002 as it applies in the European Union. These financial statements are also prepared in accordance with International Financial Reporting Standards (‘IFRSs’) as issued by the International Accounting Standards Board (‘IASB’), including interpretations issued by the IFRS Interpretations Committee, as there are no applicable differences from IFRSs as issued by the IASB for the periods presented. ‘Interest Rate Benchmark Reform – Phase 2’, which amends IFRS 9, IAS 39 ‘Financial Instruments,’ IFRS 7 ‘Financial Instruments,’ IFRS 4 ‘Insurance Contracts’ and IFRS 16 ‘Leases’, was adopted for use in the UK and the EU in January 2021 and has been early adopted as set out below. Therefore, there were no unendorsed standards effective for the year ended 31 December 2020 affecting these consolidated and separate financial statements. Standards adopted during the year ended 31 December 2020 Interest Rate Benchmark Reform – Phase 2 Interest Rate Benchmark Reform Phase 2: Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 issued in August 2020 represents the second phase of the IASB’s project on the effects of interest rate benchmark reform, addressing issues affecting financial statements when changes are made to contractual cash flows and hedging relationships as a result of the reform. Under these amendments, changes made to a financial instrument measured at other than fair value through profit or loss that are economically equivalent and required by interest rate benchmark reform do not result in the derecognition or a change in the carrying amount of the financial instrument, but instead require the effective interest rate to be updated to reflect the change in the interest rate benchmark. In addition, hedge accounting will not be discontinued solely because of the replacement of the interest rate benchmark if the hedge meets other hedge accounting criteria. These amendments apply from 1 January 2021 with early adoption permitted. HSBC adopted the amendments from 1 January 2020 and made the additional disclosures as required by the amendments. Further information is included in Note 15 and in ‘Financial instruments impacted by Ibor reform’ on page 143. Other changes In addition, HSBC adopted a number of interpretations and amendments to standards, which had an insignificant effect on the consolidated financial statements of HSBC and the separate financial statements of HSBC Holdings. In 2018, HSBC adopted IFRS 9 and made voluntary presentation changes, including to certain financial liabilities, which contain both deposit and derivative components, and to cash collateral, margin and settlement accounts. The impact of this is included in the HSBC Holdings statement of changes in equity for that year end. Other than as noted above, accounting policies have been consistently applied. (b) Differences between IFRSs and Hong Kong Financial Reporting Standards There are no significant differences between IFRSs and Hong Kong Financial Reporting Standards in terms of their application to HSBC, and consequently there would be no significant differences had the financial statements been prepared in accordance with Hong Kong Financial Reporting Standards. The ‘Notes on the financial statements’, taken together with the ‘Report of the Directors’, include the aggregate of all disclosures necessary to satisfy IFRSs and Hong Kong reporting requirements. (c) Future accounting developments Minor amendments to IFRSs The IASB has not published any minor amendments effective from 1 January 2021 that are applicable to HSBC. However, the IASB has published a number of minor amendments to IFRSs that are effective from 1 January 2022 and 1 January 2023. HSBC expects they will have an insignificant effect, when adopted, on the consolidated financial statements of HSBC and the separate financial statements of HSBC Holdings. New IFRSs IFRS 17 ‘Insurance Contracts’ IFRS 17 ‘Insurance Contracts’ was issued in May 2017, with amendments to the standard issued in June 2020. 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 numerical impact of its implementation remains uncertain. However, we have the following expectations as to the impact compared with the Group’s current accounting policy for insurance contracts, which is set out in policy 1.2(j) below: • Under IFRS 17, there will be no PVIF asset recognised; rather the estimated future profit will be included in the measurement of the insurance contract liability as the contractual service margin (‘CSM’) and gradually recognised in revenue as services are provided over the duration of the insurance contract. The PVIF asset will be eliminated to equity on transition, together with other adjustments to assets and liabilities to reflect IFRS 17 measurement requirements and any consequential amendments to financial assets in the scope of IFRS 9; • IFRS 17 requires increased use of current market values in the measurement of insurance liabilities. Depending on the measurement model, changes in market conditions for certain products (measured under the General Measurement Approach) are immediately recognised in profit or loss, while for other products (measured under the Variable Fee Approach) they will be included in the measurement of CSM. • In accordance with IFRS 17, directly attributable costs will be included in the results of insurance services as profit is recognised over the duration of insurance contracts. Costs that are not directly attributable will remain in operating expenses. This will result in a reduction in operating expenses compared with the current accounting policy. (d) Foreign currencies HSBC’s consolidated financial statements are presented in US dollars because the US dollar and currencies linked to it form the major currency bloc in which HSBC transacts and funds its business. The US dollar is also HSBC Holdings’ functional currency because the US dollar and currencies linked to it are the most significant currencies relevant to the underlying transactions, events and conditions of its subsidiaries, as well as representing a significant proportion of its funds generated from financing activities. Transactions in foreign currencies are recorded at the rate of exchange on the date of the transaction. Assets and liabilities denominated in foreign currencies are translated at the rate of exchange at the balance sheet date, except non-monetary assets and liabilities measured at historical cost, which are translated using the rate of exchange at the initial transaction date. Exchange differences are included in other comprehensive income or in the income statement depending on where the gain or loss on the underlying item is recognised. In the consolidated financial statements, the assets and liabilities of branches, subsidiaries, joint ventures and associates whose functional currency is not US dollars are translated into the Group’s presentation currency at the rate of exchange at the balance sheet date, while their results are translated into US dollars at the average rates of exchange for the reporting period. Exchange differences arising are recognised in other comprehensive income. On disposal of a foreign operation, exchange differences previously recognised in other comprehensive income are reclassified to the income statement. (e) Presentation of information Certain disclosures required by IFRSs have been included in the sections marked as (‘Audited’) in the Annual Report and Accounts 2020 as follows: • disclosures concerning the nature and extent of risks relating to insurance contracts and financial instruments are included in the ‘Risk review’ on pages 131 to 236; • the ‘Own funds disclosure’ included in the ‘Risk review’ on page 216; and • disclosures relating to HSBC’s securitisation activities and structured products are included in the ‘Risk review’ on pages 131 to 236. HSBC follows the UK Finance Disclosure Code (‘the UKF Disclosure Code’). The UKF Disclosure Code aims to increase the quality and comparability of UK banks’ disclosures and sets out five disclosure principles together with supporting guidance agreed in 2010. In line with the principles of the UKF Disclosure Code, HSBC assesses good practice recommendations issued from time to time by relevant regulators and standard setters, and will assess the applicability and relevance of such guidance, enhancing disclosures where appropriate. (f) Critical accounting estimates and judgements The preparation of financial information requires the use of estimates and judgements about future conditions. In view of the inherent uncertainties and the high level of subjectivity involved in the recognition or measurement of items, highlighted as the ‘critical accounting estimates and judgements’ in section 1.2 below (including impairment of non-financial assets for the first time), it is possible that the outcomes in the next financial year could differ from those on which management’s estimates are based. This could result in materially different estimates and judgements from those reached by management for the purposes of these financial statements. Management’s selection of HSBC’s accounting policies that contain critical estimates and judgements reflects the materiality of the items to which the policies are applied and the high degree of judgement and estimation uncertainty involved. (g) Segmental analysis HSBC’s Chief Operating Decision Maker is the Group Chief Executive, who is supported by the rest of the Group Executive Committee (‘GEC’), which operates as a general management committee under the direct authority of the Board. Operating segments are reported in a manner consistent with the internal reporting provided to the Group Chief Executive and the GEC. Measurement of segmental assets, liabilities, income and expenses is in accordance with the Group’s accounting policies. Segmental income and expenses include transfers between segments, and these transfers are conducted at arm’s length. Shared costs are included in segments on the basis of the actual recharges made. (h) Going concern The financial statements are prepared on a going concern basis, as the Directors are satisfied that the Group and parent company have the resources to continue in business for the foreseeable future. In making this assessment, the Directors have considered a wide range of information relating to present and future conditions, including future projections of profitability, cash flows, capital requirements and capital resources. These considerations include stressed scenarios that reflect the increasing uncertainty that the global Covid-19 outbreak 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. (a) Consolidation and related policies Investments in subsidiaries Where an entity is governed by voting rights, HSBC consolidates when it holds – directly or indirectly – the necessary voting rights to pass resolutions by the governing body. In all other cases, the assessment of control is more complex and requires judgement of other factors, including having exposure to variability of returns, power to direct relevant activities, and whether power is held as agent or principal. Business combinations are accounted for using the acquisition method. The amount of non-controlling interest is measured either at fair value or at the non-controlling interest’s proportionate share of the acquiree’s identifiable net assets. This election is made for each business combination. HSBC Holdings’ investments in subsidiaries are stated at cost less impairment losses. Goodwill Goodwill is allocated to cash-generating units (‘CGUs’) for the purpose of impairment testing, which is undertaken at the lowest level at which goodwill is monitored for internal management purposes. HSBC’s CGUs are based on geographical regions subdivided by global business, except for Global Banking and Markets, for which goodwill is monitored on a global basis. Impairment testing is performed at least once a year, or whenever there is an indication of impairment, by comparing the recoverable amount of a CGU with its carrying amount. Goodwill is included in a disposal group if the disposal group is a CGU to which goodwill has been allocated or it is an operation within such a CGU. The amount of goodwill included in a disposal group is measured on the basis of the relative values of the operation disposed of and the portion of the CGU retained. Critical accounting estimates and judgements The review of goodwill and non-financial assets (see Note 1.2(n)) for impairment reflects management’s best estimate of the future cash flows of the CGUs and the rates used to discount these cash flows, both of which are subject to uncertain factors as follows: Judgements Estimates • The accuracy of forecast cash flows is subject to a high degree of uncertainty in volatile market conditions. Where such circumstances are determined to exist, management re-tests goodwill for impairment more frequently than once a year when indicators of impairment exist. This ensures that the assumptions on which the cash flow forecasts are based continue to reflect current market conditions and management’s best estimate of future business prospects • The future cash flows of the CGUs are sensitive to the cash flows projected for the periods for which detailed forecasts are available and to assumptions regarding the long-term pattern of sustainable cash flows thereafter. Forecasts are compared with actual performance and verifiable economic data, but they reflect management’s view of future business prospects at the time of the assessment • The rates used to discount future expected cash flows can have a significant effect on their valuation, and are based on the costs of capital assigned to individual CGUs. The cost of capital percentage is generally derived from a capital asset pricing model, which incorporates inputs reflecting a number of financial and economic variables, including the risk-free interest rate in the country concerned and a premium for the risk of the business being evaluated. These variables are subject to fluctuations in external market rates and economic conditions beyond management’s control • Key assumptions used in estimating goodwill and non-financial asset impairment are described in Note 21 HSBC sponsored structured entities HSBC is considered to sponsor another entity if, in addition to ongoing involvement with the entity, it had a key role in establishing that entity or in bringing together relevant counterparties so the transaction that is the purpose of the entity could occur. HSBC is generally not considered a sponsor if the only involvement with the entity is merely administrative. Interests in associates and joint arrangements Joint arrangements are investments in which HSBC, together with one or more parties, has joint control. Depending on HSBC’s rights and obligations, the joint arrangement is classified as either a joint operation or a joint venture. HSBC classifies investments in entities over which it has significant influence, and that are neither subsidiaries nor joint arrangements, as associates. HSBC recognises its share of the assets, liabilities and results in a joint operation. Investments in associates and interests in joint ventures are recognised using the equity method. The attributable share of the results and reserves of joint ventures and associates is included in the consolidated financial statements of HSBC based on either financial statements made up to 31 December or pro-rated amounts adjusted for any material transactions or events occurring between the date the financial statements are available and 31 December. Investments in associates and joint ventures are assessed at each reporting date and tested for impairment when there is an indication that the investment may be impaired. Goodwill on acquisitions of interests in joint ventures and associates is not tested separately for impairment, but is assessed as part of the carrying amount of the investment. Critical accounting estimates and judgements The most significant critical accounting estimates relate to the assessment of impairment of our investment in Bank of Communications Co. Limited (‘BoCom’), which involves estimations of value in use: Judgements Estimates • Management’s best estimate of BoCom’s earnings are based on management’s explicit forecasts over the short to medium term and the capital maintenance charge, which is management’s forecast of the earnings that need to be withheld in order for BoCom to meet regulatory requirements over the forecast period, both of which are subject to uncertain factors • Key assumptions used in estimating BoCom’s value in use, the sensitivity of the value in use calculations to different assumptions and a sensitivity analysis that shows the changes in key assumptions that would reduce the excess of value in use over the carrying amount (the ‘headroom’) to nil are described in Note 18 (b) Income and expense Operating income Interest income and expense Interest income and expense for all financial instruments, excluding those classified as held for trading or designated at fair value, are recognised in ‘Interest income’ and ‘Interest expense’ in the income statement using the effective interest method. However, as an exception to this, interest on debt instruments issued by HSBC for funding purposes that are designated under the fair value option to reduce an accounting mismatch and on derivatives managed in conjunction with those debt instruments is included in interest expense. Interest on credit-impaired financial assets is recognised using the rate of interest used to discount the future cash flows for the purpose of measuring the impairment loss. Non-interest income and expense HSBC generates fee income from services provided at a fixed price over time, such as account service and card fees, or when HSBC delivers a specific transaction at a point in time, such as broking services and import/export services. With the exception of certain fund management and performance fees, all other fees are generated at a fixed price. Fund management and performance fees can be variable depending on the size of the customer portfolio and HSBC’s performance as fund manager. Variable fees are recognised when all uncertainties are resolved. Fee income is generally earned from short-term contracts with payment terms that do not include a significant financing component. HSBC acts as principal in the majority of contracts with customers, with the exception of broking services. For most brokerage trades, HSBC acts as agent in the transaction and recognises broking income net of fees payable to other parties in the arrangement. HSBC recognises fees earned on transaction-based arrangements at a point in time when it has fully provided the service to the customer. Where the contract requires services to be provided over time, income is recognised on a systematic basis over the life of the agreement. Where HSBC offers a package of services that contains multiple non-distinct performance obligations, such as those included in account service packages, the promised services are treated as a single performance obligation. If a package of services contains distinct performance obligations, such as those including both account and insurance services, the corresponding transaction price is allocated to each performance obligation based on the estimated stand-alone selling prices. Dividend income is recognised when the right to receive payment is established. This is the ex-dividend date for listed equity securities, and usually the date when shareholders approve the dividend for unlisted equity securities. Net income/(expense) from financial instruments measured at fair value through profit or loss includes the following: • ‘Net income from financial instruments held for trading or managed on a fair value basis’: This comprises net trading income, which includes all gains and losses from changes in the fair value of financial assets and financial liabilities held for trading and other financial instruments managed on a fair value basis, together with the related interest income, expense and dividends, excluding the effect of changes in the credit risk of liabilities managed on a fair value basis. It also includes all gains and losses from changes in the fair value of derivatives that are managed in conjunction with financial assets and liabilities measured at fair value through profit or loss. • ‘Net income/(expense) from assets and liabilities of insurance businesses, including related derivatives, measured at fair value through profit or loss’: This includes interest income, interest expense and dividend income in respect of financial assets and liabilities measured at fair value through profit or loss; and those derivatives managed in conjunction with the above that can be separately identifiable from other trading derivatives. • ‘Changes in fair value of designated debt instruments and related derivatives’: Interest paid on debt instruments and interest cash flows on related derivatives is presented in interest expense where doing so reduces an accounting mismatch. • ‘Changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss’: This includes interest on instruments that fail the solely payments of principal and interest test, see (d) below. The accounting policies for insurance premium income are disclosed in Note 1.2(j). (c) Valuation of financial instruments All financial instruments are initially recognised at fair value. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value of a financial instrument on initial recognition is generally its transaction price (that is, the fair value of the consideration given or received). However, if there is a difference between the transaction price and the fair value of financial instruments whose fair value is based on a quoted price in an active market or a valuation technique that uses only data from observable markets, HSBC recognises the difference as a trading gain or loss at inception (a ‘day 1 gain or loss’). In all other cases, the entire day 1 gain or loss is deferred and recognised in the income statement over the life of the transaction until the transaction matures, is closed out, the valuation inputs become observable or HSBC enters into an offsetting transaction. The fair value of financial instruments is generally measured on an individual basis. However, in cases where HSBC manages a group of financial assets and liabilities according to its net market or credit risk exposure, the fair value of the group of financial instruments is measured on a net basis but the underlying financial assets and liabilities are presented separately in the financial statements, unless they satisfy the IFRS offsetting criteria. Critical accounting estimates and judgements The majority of valuation techniques employ only observable market data. However, certain financial instruments are classified on the basis of valuation techniques that feature one or more significant market inputs that are unobservable, and for them, the measurement of fair value is more judgemental: Judgements Estimates • An instrument in its entirety is classified as valued using significant unobservable inputs if, in the opinion of management, a significant proportion of the instrument’s inception profit or greater than 5% of the instrument’s valuation is driven by unobservable inputs • ‘Unobservable’ in this context means that there is little or no current market data available from which to determine the price at which an arm’s length transaction would be likely to occur. It generally does not mean that there is no data available at all upon which to base a determination of fair value (consensus pricing data may, for example, be used) • Details on the Group’s level 3 financial instruments and the sensitivity of their valuation to the effect of applying reasonable possible alternative assumptions in determining their fair value are set out in Note 12 (d) Financial instruments measured at amortised cost Financial assets that are held to collect the contractual cash flows and which contain contractual terms that give rise on specified dates to cash flows that are solely payments of principal and interest are measured at amortised cost. Such financial assets include most loans and advances to banks and customers and some debt securities. In addition, most financial liabilities are measured at amortised cost. HSBC accounts for regular way amortised cost financial instruments using trade date accounting. The carrying value of these financial assets at initial recognition includes any directly attributable transactions costs. If the initial fair value is lower than the cash amount advanced, such as in the case of some leveraged finance and syndicated lending activities, the difference is deferred and recognised over the life of the loan through the recognition of interest income. HSBC may commit to underwriting loans on fixed contractual terms for specified periods of time. When the loan arising from the lending commitment is expected to be held for trading, the commitment to lend is recorded as a derivative. When HSBC intends to hold the loan, the loan commitment is included in the impairment calculations set out below. Non-trading reverse repurchase, repurchase and similar agreements When debt securities are sold subject to a commitment to repurchase them at a predetermined price (‘repos’), they remain on the balance sheet and a liability is recorded in respect of the consideration received. Securities purchased under commitments to resell (‘reverse repos’) are not recognised on the balance sheet and an asset is recorded in respect of the initial consideration paid. Non-trading repos and reverse repos are measured at amortised cost. The difference between the sale and repurchase price or between the purchase and resale price is treated as interest and recognised in net interest income over the life of the agreement. Contracts that are economically equivalent to reverse repo or repo agreements (such as sales or purchases of debt securities entered into together with total return swaps with the same counterparty) are accounted for similarly to, and presented together with, reverse repo or repo agreements. (e) Financial assets measured at fair value through other comprehensive income Financial assets held for a business model that is achieved by both collecting contractual cash flows and selling and which contain contractual terms that give rise on specified dates to cash flows that are solely payments of principal and interest are measured at fair value through other comprehensive income (‘FVOCI’). These comprise primarily debt securities. They are recognised on the trade date when HSBC enters into contractual arrangements to purchase and are normally derecognised when they are either sold or redeemed. They are subsequently remeasured at fair value and changes therein (except for those relating to impairment, interest income and foreign currency exchange gains and losses) are recognised in other comprehensive income until the assets are sold. Upon disposal, the cumulative gains or losses in other comprehensive income are recognised in the income statement as ‘Gains less losses from financial instruments’. Financial assets measured at FVOCI are included in the impairment calculations set out below and impairment is recognised in profit or loss. (f) Equity securities measured at fair value with fair value movements presented in other comprehensive income The equity securities for which fair value movements are shown in other comprehensive income are business facilitation and other similar investments where HSBC holds the investments other than to generate a capital return. Gains or losses on the derecognition of these equity securities are not transferred to profit or loss. Otherwise, equity securities are measured at fair value through profit or loss (except for dividend income, which is recognised in profit or loss). (g) Financial instruments designated at fair value through profit or loss Financial instruments, other than those held for trading, are classified in this category if they meet one or more of the criteria set out below and are so designated irrevocably at inception: • the use of the designation removes or significantly reduces an accounting mismatch; • a group of financial assets and liabilities or a group of financial liabilities is managed and its performance is evaluated on a fair value basis, in accordance with a documented risk management or investment strategy; and • the financial liability contains one or more non-closely related embedded derivatives. Designated financial assets are recognised when HSBC enters into contracts with counterparties, which is generally on trade date, and are normally derecognised when the rights to the cash flows expire or are transferred. Designated financial liabilities are recognised when HSBC enters into contracts with counterparties, which is generally on settlement date, and are normally derecognised when extinguished. Subsequent changes in fair values are recognised in the income statement in ‘Net income from financial instruments held for trading or managed on a fair value basis’ or ‘Net income/(expense) from assets and liabilities of insurance businesses, including related derivatives, measured at fair value through profit or loss’ except for the effect of changes in the liabilities’ credit risk, which is presented in ‘Other comprehensive income’, unless that treatment would create or enlarge an accounting mismatch in profit or loss. Under the above criterion, the main classes of financial instruments designated by HSBC are: • Debt instruments for funding purposes that are designated to reduce an accounting mismatch: The interest and/or foreign exchange exposure on certain fixed-rate debt securities issued has been matched with the interest and/or foreign exchange exposure on certain swaps as part of a documented risk management strategy. • Financial assets and financial liabilities under unit-linked and non-linked investment contracts: A contract under which HSBC does not accept significant insurance risk from another party is not classified as an insurance contract, other than investment contracts with discretionary participation features (‘DPF’), but is accounted for as a financial liability. Customer liabilities under linked and certain non-linked investment contracts issued by insurance subsidiaries are determined based on the fair value of the assets held in the linked funds. If no fair value designation was made for the related assets, at least some of the assets would otherwise be measured at either fair value through other comprehensive income or amortised cost. The related financial assets and liabilities are managed and reported to management on a fair value basis. Designation at fair value of the financial assets and related liabilities allows changes in fair values to be recorded in the income statement and presented in the same line. • Financial liabilities that contain both deposit and derivative components: These financial liabilities are managed and their performance evaluated on a fair value basis. (h) Derivatives Derivatives are financial instruments that derive their value from the price of underlying items such as equities, interest rates or other indices. Derivatives are recognised initially and are subsequently measured at fair value through profit or loss. Derivatives are classified as assets when their fair value is positive or as liabilities when their fai |
Net fee income
Net fee income | 12 Months Ended |
Dec. 31, 2020 | |
Analysis of income and expense [abstract] | |
Net fee income | 2 Net fee income Net fee income by global business 2020 Wealth and Commercial Global Corporate Total $m $m $m $m $m Funds under management 1,686 126 477 — 2,289 Cards 1,564 360 25 — 1,949 Broking income 862 61 616 — 1,539 Credit facilities 93 740 626 — 1,459 Account services 431 598 264 — 1,293 Underwriting 5 9 1,002 (1) 1,015 Global custody 189 22 723 — 934 Unit trusts 881 18 — — 899 Remittances 77 313 288 (1) 677 Imports/exports — 417 160 — 577 Insurance agency commission 307 17 1 — 325 Other 1,123 893 2,369 (2,290) 2,095 Fee income 7,218 3,574 6,551 (2,292) 15,051 Less: fee expense (1,810) (349) (3,284) 2,266 (3,177) Net fee income 5,408 3,225 3,267 (26) 11,874 2019 1 2018 Wealth and Commercial Global Corporate Total Total $m $m $m $m $m $m Funds under management 1,597 120 460 — 2,177 2,221 Cards 1,602 358 15 — 1,975 1,956 Broking income 485 40 532 — 1,057 1,210 Credit facilities 90 785 743 — 1,618 1,723 Account services 991 654 365 (7) 2,003 2,177 Underwriting 3 6 821 (1) 829 723 Global custody 135 18 564 — 717 736 Unit trusts 1,011 22 2 — 1,035 1,038 Remittances 77 362 311 (3) 747 778 Imports/exports 1 497 164 — 662 709 Insurance agency commission 356 20 1 — 377 404 Other 1,284 887 2,353 (2,282) 2,242 2,369 Fee income 7,632 3,769 6,331 (2,293) 15,439 16,044 Less: fee expense (1,998) (380) (3,292) 2,254 (3,416) (3,424) Net Fee income 5,634 3,389 3,039 (39) 12,023 12,620 1 A change in reportable segments was made in 2020. Comparative data have been re-presented accordingly. For further guidance, see Note 10: Segmental Analysis on page 347. |
Net income from financial instr
Net income from financial instruments measured at fair value through profit and loss | 12 Months Ended |
Dec. 31, 2020 | |
Analysis of income and expense [abstract] | |
Net income from financial instruments measured at fair value through profit and loss | 3 Net income from financial instruments measured at fair value through profit or loss 2020 2019 2018 Footnotes $m $m $m Net income/(expense) arising on: Net trading activities 11,074 16,121 6,982 Other instruments managed on a fair value basis (1,492) (5,890) 2,549 Net income from financial instruments held for trading or managed on a fair value basis 9,582 10,231 9,531 Financial assets held to meet liabilities under insurance and investment contracts 2,481 3,830 (1,585) Liabilities to customers under investment contracts (400) (352) 97 Net income/(expense) from assets and liabilities of insurance businesses, including related derivatives, measured at fair value through profit or loss 2,081 3,478 (1,488) Derivatives managed in conjunction with HSBC’s issued debt securities 2,619 2,561 (626) Other changes in fair value (2,388) (2,471) 529 Changes in fair value of designated debt and related derivatives 1 231 90 (97) Changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss 455 812 695 Year ended 31 Dec 12,349 14,611 8,641 1 The debt instruments, issued for funding purposes, are designated under the fair value option to reduce an accounting mismatch. HSBC Holdings 2020 2019 2018 $m $m $m Net income/(expense) arising on: – trading activities (336) (559) (176) – other instruments managed on a fair value basis 1,137 2,036 421 Net income from financial instruments held for trading or managed on a fair value basis 801 1,477 245 Derivatives managed in conjunction with HSBC Holdings-issued debt securities 694 764 (337) Other changes in fair value (1,020) (1,124) 260 Changes in fair value of designated debt and related derivatives (326) (360) (77) Changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss 1,141 1,659 43 Year ended 31 Dec 1,616 2,776 211 |
Insurance business
Insurance business | 12 Months Ended |
Dec. 31, 2020 | |
Insurance Contracts [Abstract] | |
Insurance business | 4 Insurance business Net insurance premium income Non-linked Linked life Investment contracts with DPF 1 Total $m $m $m $m Gross insurance premium income 8,321 579 1,563 10,463 Reinsurers’ share of gross insurance premium income (362) (8) — (370) Year ended 31 Dec 2020 7,959 571 1,563 10,093 Gross insurance premium income 9,353 489 2,266 12,108 Reinsurers’ share of gross insurance premium income (1,465) (7) — (1,472) Year ended 31 Dec 2019 7,888 482 2,266 10,636 Gross insurance premium income 8,616 422 2,300 11,338 Reinsurers’ share of gross insurance premium income (672) (7) — (679) Year ended 31 Dec 2018 7,944 415 2,300 10,659 1 Discretionary participation features. Net insurance claims and benefits paid and movement in liabilities to policyholders Non-linked Linked life Investment contracts with DPF 1 Total $m $m $m $m Gross claims and benefits paid and movement in liabilities 10,050 1,112 1,853 13,015 – claims, benefits and surrenders paid 3,695 900 2,083 6,678 – movement in liabilities 6,355 212 (230) 6,337 Reinsurers’ share of claims and benefits paid and movement in liabilities (366) (4) — (370) – claims, benefits and surrenders paid (430) (10) — (440) – movement in liabilities 64 6 — 70 Year ended 31 Dec 2020 9,684 1,108 1,853 12,645 Gross claims and benefits paid and movement in liabilities 11,305 1,217 3,810 16,332 – claims, benefits and surrenders paid 3,783 900 1,921 6,604 – movement in liabilities 7,522 317 1,889 9,728 Reinsurers’ share of claims and benefits paid and movement in liabilities (1,402) (4) — (1,406) – claims, benefits and surrenders paid (411) (17) — (428) – movement in liabilities (991) 13 — (978) Year ended 31 Dec 2019 9,903 1,213 3,810 14,926 Gross claims and benefits paid and movement in liabilities 8,943 (446) 1,724 10,221 – claims, benefits and surrenders paid 3,852 1,088 1,869 6,809 – movement in liabilities 5,091 (1,534) (145) 3,412 Reinsurers’ share of claims and benefits paid and movement in liabilities (605) 191 — (414) – claims, benefits and surrenders paid (311) (181) — (492) – movement in liabilities (294) 372 — 78 Year ended 31 Dec 2018 8,338 (255) 1,724 9,807 1 Discretionary participation features. Liabilities under insurance contracts Non-linked Linked life Investment contracts with DPF 1 Total Footnotes $m $m $m $m Gross liabilities under insurance contracts at 1 Jan 2020 65,324 6,151 25,964 97,439 Claims and benefits paid (3,695) (900) (2,083) (6,678) Increase in liabilities to policyholders 10,050 1,112 1,853 13,015 Exchange differences and other movements 2 785 86 2,544 3,415 Gross liabilities under insurance contracts at 31 Dec 2020 72,464 6,449 28,278 107,191 Reinsurers’ share of liabilities under insurance contracts (3,434) (14) — (3,448) Net liabilities under insurance contracts at 31 Dec 2020 69,030 6,435 28,278 103,743 Gross liabilities under insurance contracts at 1 Jan 2019 57,283 5,789 24,258 87,330 Claims and benefits paid (3,804) (900) (1,900) (6,604) Increase in liabilities to policyholders 11,326 1,217 3,789 16,332 Exchange differences and other movements 2 519 45 (183) 381 Gross liabilities under insurance contracts at 31 Dec 2019 65,324 6,151 25,964 97,439 Reinsurers’ share of liabilities under insurance contracts (3,521) (71) — (3,592) Net liabilities under insurance contracts at 31 Dec 2019 61,803 6,080 25,964 93,847 1 Discretionary participation features. 2 ‘Exchange differences and other movements’ includes movements in liabilities arising from net unrealised investment gains recognised in other comprehensive income. |
Employee compensation and benef
Employee compensation and benefits | 12 Months Ended |
Dec. 31, 2020 | |
Employee Compensation And Benefits [Abstract] | |
Employee compensation and benefits | 5 Employee compensation and benefits 2020 2019 2018 $m $m $m Wages and salaries 15,752 15,581 14,751 Social security costs 1,378 1,472 1,490 Post-employment benefits 946 949 1,132 Year ended 31 Dec 18,076 18,002 17,373 Average number of persons employed by HSBC during the year by global business 2020 2019 1 2018 1 Wealth and Personal Banking 144,615 148,680 144,109 Commercial Banking 45,631 46,584 48,983 Global Banking and Markets 49,055 51,313 49,217 Corporate Centre 411 478 541 Year ended 31 Dec 239,712 247,055 242,850 1 A change in reportable segments was made in 2020. Comparative data have been re-presented accordingly. For further guidance, see Note 10: Segmental analysis on page 347. Average number of persons employed by HSBC during the year by geographical region 2020 2019 2018 Europe 64,886 66,392 67,007 Asia 129,923 133,624 127,992 Middle East and North Africa 9,550 9,798 9,798 North America 15,430 16,615 17,350 Latin America 19,923 20,626 20,703 Year ended 31 Dec 239,712 247,055 242,850 Reconciliation of total incentive awards granted to income statement charge 2020 2019 2018 $m $m $m Total incentive awards approved for the current year 2,659 3,341 3,473 Less: deferred bonuses awarded, expected to be recognised in future periods (239) (337) (351) Total incentives awarded and recognised in the current year 2,420 3,004 3,122 Add: current year charges for deferred bonuses from previous years 286 327 322 Other 2 (55) (70) Income statement charge for incentive awards 2,708 3,276 3,374 Share-based payments ‘Wages and salaries’ includes the effect of share-based payments arrangements, of which $434m was equity settled (2019: $478m; 2018: $450m), as follows: 2020 2019 2018 $m $m $m Conditional share awards 411 521 499 Savings-related and other share award option plans 51 30 23 Year ended 31 Dec 462 551 522 HSBC share awards Award Policy Deferred share awards (including annual incentive awards, LTI awards delivered in shares) and Group Performance Share Plans (‘GPSP’) An assessment of performance over the relevant period ending on 31 December is used to determine the amount of the award to be granted. • Deferred awards generally require employees to remain in employment over the vesting period and are generally not subject to performance conditions after the grant date. An exception to these are the LTI awards, which are subject to performance conditions. • Deferred share awards generally vest over a period of three five • Vested shares may be subject to a retention requirement post-vesting. GPSP awards are retained until cessation of employment. • Awards are subject to a malus provision prior to vesting. • Awards granted to Material Risk Takers from 2015 onwards are subject to clawback post-vesting. International Employee Share Purchase Plan (‘ShareMatch’) The plan was first introduced in Hong Kong in 2013 and now includes employees based in 27 jurisdictions. • Shares are purchased in the market each quarter up to a maximum value of £750, or the equivalent in local currency. • Matching awards are added at a ratio of one free share for every three purchased. • Matching awards vest subject to continued employment and the retention of the purchased shares for a maximum period of two years and nine months. Movement on HSBC share awards 2020 2019 Number Number (000s) (000s) Conditional share awards outstanding at 1 Jan 97,055 94,897 Additions during the year 72,443 71,858 Released in the year (60,673) (67,737) Forfeited in the year (5,352) (1,963) Conditional share awards outstanding at 31 Dec 103,473 97,055 Weighted average fair value of awards granted ($) 7.28 7.89 HSBC share option plans Main plans Policy Savings-related share option plans (‘Sharesave’) • From 2014, employees eligible for the UK plan could save up to £500 per month with the option to use the savings to acquire shares. • These are generally exercisable within six months following either the third or fifth anniversary of the commencement of a three five • The exercise price is set at a 20% (2019: 20%) discount to the market value immediately preceding the date of invitation. Calculation of fair values Movement on HSBC share option plans Savings-related Number WAEP 1 Footnotes (000s) £ Outstanding at 1 Jan 2020 65,060 4.81 Granted during the year 2 111,469 2.63 Exercised during the year 3 (1,387) 4.48 Expired during the year (43,032) 4.81 Forfeited during the year (1,158) 4.88 Outstanding at 31 Dec 2020 130,952 2.97 – of which exercisable 8,170 4.50 Weighted average remaining contractual life (years) 3.68 Outstanding at 1 Jan 2019 57,065 4.92 Granted during the year 2 32,130 4.69 Exercised during the year 3 (11,806) 4.40 Expired during the year (11,321) 5.46 Forfeited during the year (1,008) 4.99 Outstanding at 31 Dec 2019 65,060 4.81 – of which exercisable 2,149 4.53 Weighted average remaining contractual life (years) 2.77 1 Weighted average exercise price. 2 The weighted average fair value of options granted during the year was $0.47 (2019: $1.36). 3 The weighted average share price at the date the options were exercised was $7.08 (2019: $7.99). Post-employment benefit plans The Group operates pension plans throughout the world for its employees. ‘Pension risk management processes’ on page 214 contains details of the policies and practices associated with these pension plans, some of which are defined benefit plans. The largest defined benefit plan is the HBUK section of the HSBC Bank (UK) Pension Scheme (‘the principal plan’), created as a result of the HSBC Bank (UK) Pension Scheme being fully sectionalised in 2018 to meet the requirements of the Banking Reform Act. HSBC holds on its balance sheet the net surplus or deficit, which is the difference between the fair value of plan assets and the discounted value of scheme liabilities at the balance sheet date for each plan. Surpluses are only recognised to the extent that they are recoverable through reduced contributions in the future or through potential future refunds from the schemes. In assessing whether a surplus is recoverable, HSBC has considered its current right to obtain a future refund or a reduction in future contributions together with the rights of third parties such as trustees. The principal plan The principal plan has a defined benefit section and a defined contribution section. The defined benefit section was closed to future benefit accrual in 2015, with defined benefits earned by employees at that date continuing to be linked to their salary while they remain employed by HSBC. The plan is overseen by an independent corporate trustee, who has a fiduciary responsibility for the operation of the plan. Its assets are held separately from the assets of the Group. The investment strategy of the plan is to hold the majority of assets in bonds, with the remainder in a diverse range of investments. It also includes some interest rate swaps to reduce interest rate risk and inflation swaps to reduce inflation risk. The latest funding valuation of the plan at 31 December 2019 was carried out by Colin G Singer of Willis Towers Watson Limited, who is a Fellow of the UK Institute and Faculty of Actuaries, using the projected unit credit method. At that date, the market value of the plan’s assets was £31.1bn ($41.1bn) and this exceeded the value placed on its liabilities on an ongoing basis by £2.5bn ($3.3bn), giving a funding level of 109%. These figures include defined contribution assets amounting to £2.4bn ($3.2bn). The main differences between the assumptions used for assessing the defined benefit liabilities for this funding valuation and those used for IAS 19 are more prudent assumptions for discount rate, inflation rate and life expectancy. The next funding valuation will have an effective date of 31 December 2022. Although the plan was in surplus at the valuation date, HSBC continues to make further contributions to the plan to support a lower-risk investment strategy over the longer term. The remaining contribution is £160m ($218m) to be paid in 2021. The main employer of the principal plan is HSBC UK Bank plc, with additional support from HSBC Holdings plc. The HSBC Bank (UK) Pension Scheme is fully sectionalised and no entities outside the ring fence participate in the HBUK section. The sectionalisation, which took place in 2018, did not materially affect the overall funding position of the plan. Guaranteed minimum pension equalisation Following a judgment issued by the High Court of Justice of England and Wales in 2018, we estimated the financial effect of equalising benefits in respect of guaranteed minimum pension (‘GMP’) equalisation, and any potential conversion of GMPs into non-GMP benefits, to be an approximate 0.9% increase in the principal plan’s liabilities, or £187m ($239m). This was recognised in the income statement in 2018. A further judgment by the High Court on 20 November 2020 ruled that GMPs should also be equalised for those who had previously transferred benefits from the principal plan to another arrangement, with £13m ($17m) consequently being recognised in 2020. We continue to assess the impact of GMP equalisation. Income statement charge 2020 2019 2018 $m $m $m Defined benefit pension plans 146 176 355 Defined contribution pension plans 775 758 756 Pension plans 921 934 1,111 Defined benefit and contribution healthcare plans 25 15 21 Year ended 31 Dec 946 949 1,132 Net assets/(liabilities) recognised on the balance sheet in respect of defined benefit plans Fair value of Present value Effect of Total $m $m $m $m Defined benefit pension plans 52,990 (43,995) (44) 8,951 Defined benefit healthcare plans 114 (639) — (525) At 31 Dec 2020 53,104 (44,634) (44) 8,426 Total employee benefit liabilities (within Note 26 ‘Accruals, deferred income and other liabilities’) (2,025) Total employee benefit assets (within Note 22 ‘Prepayments, accrued income and other assets’) 10,450 Defined benefit pension plans 47,567 (40,582) (16) 6,969 Defined benefit healthcare plans 121 (580) — (459) At 31 Dec 2019 47,688 (41,162) (16) 6,510 Total employee benefit liabilities (within Note 26 ‘Accruals, deferred income and other liabilities’) (1,771) Total employee benefit assets (within Note 22 ‘Prepayments, accrued income and other assets’) 8,280 Net asset/(liability) under defined benefit pension plans Fair value of plan assets Present value of defined benefit obligations Effect of the asset ceiling Net defined benefit asset/(liability) Principal 1 plan Other Principal 1 plan Other Principal 1 plan Other Principal 1 plan Other $m $m $m $m $m $m $m $m At 1 Jan 2020 37,874 9,693 (30,158) (10,424) — (16) 7,716 (747) Service cost — — (68) (172) — — (68) (172) – current service cost — — (28) (184) — — (28) (184) – past service cost and gains/(losses) from settlements — — (40) 12 — — (40) 12 Net interest income/(cost) on the net defined benefit asset/(liability) 726 233 (575) (245) — — 151 (12) Remeasurement effects recognised in other comprehensive income 3,173 879 (2,118) (547) — (26) 1,055 306 – return on plan assets (excluding interest income) 3,173 692 — — — — 3,173 692 – actuarial gains/(losses) 2 — — (2,118) (428) — — (2,118) (428) – other changes — 187 — (119) — (26) — 42 Exchange differences 1,446 249 (1,100) (387) — (2) 346 (140) Benefits paid (1,148) (652) 1,148 727 — — — 75 Other movements 4 434 83 (134) 58 — — 300 141 At 31 Dec 2020 42,505 10,485 (33,005) (10,990) — (44) 9,500 (549) At 1 Jan 2019 34,074 8,725 (26,616) (9,967) — (35) 7,458 (1,277) Service cost — — (64) (246) — — (64) (246) – current service cost — — (40) (183) — — (40) (183) – past service cost and losses from settlements — — (24) (63) — — (24) (63) Net interest income/(cost) on the net defined benefit asset/(liability) 939 269 (728) (293) — — 211 (24) Remeasurement effects recognised in other comprehensive income 2,205 867 (2,548) (521) — 20 (343) 366 – return on plan assets (excluding interest income) 2,205 870 — — — — 2,205 870 – actuarial gains/(losses) 2,3 — — (2,548) (507) — — (2,548) (507) – other changes 3 — (3) — (14) — 20 — 3 Exchange differences 1,300 181 (1,036) (180) — (1) 264 — Benefits paid (1,014) (620) 1,014 694 — — — 74 Other movements 4 370 271 (180) 89 — — 190 360 At 31 Dec 2019 37,874 9,693 (30,158) (10,424) — (16) 7,716 (747) 1 For further details of the principal plan, see page 339. 2 Actuarial gains/(losses) for our principal plan includes losses relating to financial assumptions of $3,179m (2019: $3,049m), gains relating to demographic assumptions of $86m (2019: $186m) and experience adjustments of $975m (2019: $315m). Actuarial gains/(losses) for our other plans includes losses relating to financial assumptions of $564m (2019: $847m), gains relating to demographic assumptions of $49m (2019: $94m) and experience adjustments of $87m (2019: $246m). 3 The comparatives have been re-presented to reclassify gains and losses relating to demographic and experience assumptions in other plans from 'other changes' to 'actuarial gains and losses’. 4 Other movements include contributions by HSBC, contributions by employees, administrative costs and taxes paid by plan. HSBC expects to make $376m of contributions to defined benefit pension plans during 2021. Benefits expected to be paid from the plans to retirees over each of the next five years, and in aggregate for the five years thereafter, are as follows: Benefits expected to be paid from plans 2021 2022 2023 2024 2025 2026-2030 $m $m $m $m $m $m The principal plan 1,2 1,274 1,312 1,352 1,393 1,434 7,840 Other plans 1 495 520 486 472 470 2,322 1 The duration of the defined benefit obligation is 17.4 years for the principal plan under the disclosure assumptions adopted (2019: 18.1 years) and 13.5 years for all other plans combined (2019: 13.2 years). 2 For further details of the principal plan, see page 339. Fair value of plan assets by asset classes 31 Dec 2020 31 Dec 2019 Value Quoted No quoted Thereof 1 Value Quoted No quoted Thereof 1 $m $m $m $m $m $m $m $m The principal plan 2 Fair value of plan assets 42,505 37,689 4,816 973 37,874 33,921 3,953 1,183 – equities 268 7 261 — 662 312 350 — – bonds 36,198 35,479 719 — 31,699 31,699 — — – derivatives 1,973 — 1,973 973 2,052 — 2,052 1,183 – other 4,066 2,203 1,863 — 3,461 1,910 1,551 — Other plans Fair value of plan assets 10,485 9,512 973 54 9,693 8,702 991 239 – equities 1,484 1,069 415 3 2,065 1,455 610 2 – bonds 7,624 7,143 481 10 6,608 6,376 232 8 – derivatives (57) — (57) — — — — — – other 1,434 1,300 134 41 1,020 871 149 229 1 The fair value of plan assets includes derivatives entered into with HSBC Bank plc as detailed in Note 35. These derivatives are presented within the principal plan at 31 December 2020. Comparatives have been re-presented. 2 For further details on the principal plan, see page 339. Post-employment defined benefit plans’ principal actuarial financial assumptions HSBC determines the discount rates to be applied to its obligations in consultation with the plans’ local actuaries, on the basis of current average yields of high-quality (AA-rated or equivalent) debt instruments with maturities consistent with those of the defined benefit obligations. Key actuarial assumptions for the principal plan 1 Discount rate Inflation rate Rate of increase for pensions Rate of pay increase % % % % UK At 31 Dec 2020 1.45 3.05 3.00 2.75 At 31 Dec 2019 2.00 3.10 2.90 3.65 1 For further details on the principal plan, see page 339. Mortality tables and average life expectancy at age 60 1 for the principal plan Mortality Life expectancy at age 60 for Life expectancy at age 60 for Aged 60 Aged 40 Aged 60 Aged 40 UK At 31 Dec 2020 SAPS S3 2 27.0 28.5 28.1 29.7 At 31 Dec 2019 SAPS S2 3 28.0 29.4 28.2 29.8 1 For further details of the principal plan, see page 339. 2 Self-administered pension scheme (‘SAPS’) S3 table (males: 'Normal health pensioners, Light' version; females: 'Normal health pensioners, Heavy' version) with a multiplier of 1 for both male and female pensioners. Improvements are projected in accordance with the continual mortality investigation (‘CMI’) 2019 core projection model with a long-term rate of improvement of 0.25% per annum and a long-term rate of improvement of 1.25% per annum. Separate tables have been applied to lower-paid pensioners and dependant members. 3 Self-administered pension scheme (‘SAPS’) S2 table (males: 'Normal health pensioners' version; females: 'All pensioners' version) with a multiplier of 0.94 for male and 1.15 for female pensioners. Improvements are projected in accordance with the continual mortality investigation (‘CMI’) 2019 core projection model with an initial addition to improvements of 0.25% per annum and a long-term rate of improvement of 1.25% per annum. Separate tables have been applied to lower-paid pensioners and dependant members. The effect of changes in key assumptions on the principal plan 1 Impact on HBUK section of the HSBC Bank (UK) Pension Scheme obligation Financial impact of increase Financial impact of decrease 2020 2019 2020 2019 $m $m $m $m Discount rate – increase/decrease of 0.25% (1,383) (1,305) 1,475 1,395 Inflation rate – increase/decrease of 0.25% 871 781 (830) (738) Pension payments and deferred pensions – increase/decrease of 0.25% 1,307 1,100 (1,222) (1,026) Pay – increase/decrease of 0.25% 60 73 (59) (72) Change in mortality – increase of 1 year 1,453 1,267 N/A N/A 1 For further details of the principal plan, see page 339. The above sensitivity analyses are based on a change in an assumption while holding all other assumptions constant. In practice, this in unlikely to occur, and changes in some of the assumptions may be correlated. When calculating the sensitivity of the defined benefit obligation to significant actuarial assumptions the same method (present value of the defined benefit obligation calculated with the projected unit credit method at the end of the reporting period) has been applied as when calculating the defined benefit asset recognised in the balance sheet. The methods and types of assumptions used in preparing the sensitivity analysis did not change compared with the prior period. Directors’ emoluments Details of Directors’ emoluments, pensions and their interests are disclosed in the Directors’ remuneration report on page 271. |
Auditor's remuneration
Auditor's remuneration | 12 Months Ended |
Dec. 31, 2020 | |
Additional information [abstract] | |
Auditor's remuneration | 6 Auditor’s remuneration 2020 2019 2018 $m $m $m Audit fees payable to PwC 92.9 85.2 86.6 Other audit fees payable 1.0 0.9 0.9 Year ended 31 Dec 93.9 86.1 87.5 Fees payable by HSBC to PwC 2020 2019 2018 Footnotes $m $m $m Fees for HSBC Holdings’ statutory audit 1 21.9 15.7 16.4 Fees for other services provided to HSBC 108.3 95.0 103.1 – audit of HSBC’s subsidiaries 71.0 69.5 70.2 – audit-related assurance services 2 17.2 10.0 11.4 – other assurance services 3,4 20.1 12.2 13.5 – taxation compliance services — 1.6 1.4 – taxation advisory services — — 0.1 – other non-audit services 3 — 1.7 6.5 Year ended 31 Dec 130.2 110.7 119.5 1 Fees payable to PwC for the statutory audit of the consolidated financial statements of HSBC and the separate financial statements of HSBC Holdings. They include amounts payable for services relating to the consolidation returns of HSBC Holdings’ subsidiaries, which are clearly identifiable as being in support of the Group audit opinion. 2 Including services for assurance and other services that relate to statutory and regulatory filings, including interim reviews. 3 Including permitted services relating to attestation reports on internal controls of a service organisation primarily prepared for and used by third party end user, including comfort letters. 4 Includes reviews of PRA regulatory reporting returns in 2020. No fees were payable by HSBC to PwC as principal auditor for the following types of services: internal audit services and services related to litigation, recruitment and remuneration. Fees payable by HSBC’s associated pension schemes to PwC 2020 2019 2018 $000 $000 $000 Audit of HSBC’s associated pension schemes 316 250 172 Year ended 31 Dec 316 250 172 No fees were payable by HSBC’s associated pension schemes to PwC as principal auditor for the following types of services: internal audit services, other assurance services, services related to corporate finance transactions, valuation and actuarial services, litigation, recruitment and remuneration, and information technology. In addition to the above, the estimated fees paid to PwC by third parties associated with HSBC amounted to $12.3m (2019: $17.2m; 2018: $14.0m). In these cases, HSBC was connected with the contracting party and may therefore have been involved in appointing PwC. These fees arose from services such as auditing mutual funds managed by HSBC and reviewing the financial position of corporate concerns that borrow from HSBC. Fees payable for non-audit services for HSBC Holdings are not disclosed separately because such fees are disclosed on a consolidated basis for the Group. |
Tax
Tax | 12 Months Ended |
Dec. 31, 2020 | |
Income Taxes [Abstract] | |
Tax | 7 Tax Tax expense 2020 2019 2018 Footnotes $m $m $m Current tax 1 2,700 3,768 4,195 – for this year 2,883 3,689 4,158 – adjustments in respect of prior years (183) 79 37 Deferred tax (22) 871 670 – origination and reversal of temporary differences (341) 684 656 – effect of changes in tax rates 58 (11) 17 – adjustments in respect of prior years 261 198 (3) Year ended 31 Dec 2 2,678 4,639 4,865 1 Current tax included Hong Kong profits tax of $888m (2019: $1,413m; 2018: $1,532m). The Hong Kong tax rate applying to the profits of subsidiaries assessable in Hong Kong was 16.5% (2019: 16.5%; 2018: 16.5%). 2 In addition to amounts recorded in the income statement, a tax charge of $7m (2019: charge of $6m) was recorded directly to equity. Tax reconciliation The tax charged to the income statement differs from the tax charge that would apply if all profits had been taxed at the UK corporation tax rate as follows: 2020 2019 2018 $m % $m % $m % Profit before tax 8,777 13,347 19,890 Tax expense Taxation at UK corporation tax rate of 19.00% (2019: 19.00%; 2018: 19.00%) 1,668 19.0 2,536 19.0 3,779 19.0 Impact of differently taxed overseas profits in overseas locations 178 2.0 253 1.9 264 1.3 Items increasing tax charge in 2020: – non-UK movements in unrecognised deferred tax 608 6.9 12 0.1 32 0.2 – UK tax losses not recognised 444 5.1 364 2.7 435 2.2 – other permanent disallowables 322 3.6 481 3.6 396 2.0 – local taxes and overseas withholding taxes 228 2.6 484 3.6 437 2.2 – bank levy 202 2.3 184 1.4 191 1.0 – adjustments in respect of prior period liabilities 78 0.9 277 2.1 34 0.2 – impacts of hyperinflation 65 0.7 29 0.2 78 0.4 – impact of changes in tax rates 58 0.6 (11) (0.1) 17 0.1 – non-deductible regulatory settlements 33 0.4 5 — 153 0.8 – non-deductible goodwill write-down — — 1,421 10.7 — — Items reducing tax charge in 2020: – non-taxable income and gains (515) (5.8) (844) (6.3) (691) (3.5) – deductions for AT1 coupon payments (310) (3.5) (263) (2.0) — — – effect of profits in associates and joint ventures (250) (2.8) (467) (3.5) (492) (2.5) – UK banking surcharge (113) (1.3) 29 0.2 229 1.1 – non-deductible UK customer compensation (18) (0.2) 382 2.9 16 0.1 – non-taxable gain on dilution of shareholding in SABB — — (181) (1.3) — — – other items — — (52) (0.4) (13) (0.1) Year ended 31 Dec 2,678 30.5 4,639 34.8 4,865 24.5 The Group’s profits are taxed at different rates depending on the country or territory in which the profits arise. The key applicable tax rates for 2020 include Hong Kong (16.5%), the US (21%) and the UK (19%). If the Group’s profits were taxed at the statutory rates of the countries in which the profits arose, then the tax rate for the year would have been 21.00% (2019: 20.90%). The effective tax rate for the year of 30.5% (2019: 34.8%) was lower than for 2019. The effective tax rate for 2019 included a non-deductible impairment of goodwill of $7.3bn (10.7% increase in effective tax rate) and a higher level of non-deductible customer compensation (3.1% increase in effective tax rate compared with 2020), both of which are non-recurring items. This was partly offset by the impact of non-recognition of deferred tax, mainly in the UK ($0.4bn) and France ($0.4bn), being greater in 2020 than 2019 (9.2% increase in effective tax rate compared with 2019). Following an amendment to IAS 12 effective 1 January 2019, the income tax consequences of distributions, including AT1 coupon payments, were recorded in the income statement tax expense. The 2018 reconciliation has not been restated. Movement of deferred tax assets and liabilities Loan Unused tax Derivatives, FVOD 1 and other investments Insurance Expense Fixed assets Retirement obligations Other Total Footnotes $m $m $m $m $m $m $m $m $m Assets 983 1,414 979 — 650 1,002 — 422 5,450 Liabilities — — (558) (1,621) — — (1,613) (401) (4,193) At 1 Jan 2020 983 1,414 421 (1,621) 650 1,002 (1,613) 21 1,257 Income statement 295 355 (274) (32) (81) (112) (190) 61 22 Other comprehensive income — — (23) — — — (387) (660) (1,070) Equity — — — — — — — — — Foreign exchange and other adjustments (36) 52 (281) 31 (4) 11 (116) 304 (39) At 31 Dec 2020 1,242 1,821 (157) (1,622) 565 901 (2,306) (274) 170 Assets 2 1,242 1,821 548 — 565 901 — 960 6,037 Liabilities 2 — — (705) (1,622) — — (2,306) (1,234) (5,867) Assets 982 1,156 492 — 629 1,151 — 738 5,148 Liabilities — — (376) (1,271) — — (1,387) (283) (3,317) At 1 Jan 2019 982 1,156 116 (1,271) 629 1,151 (1,387) 455 1,831 Income statement 45 266 (386) (303) (18) (185) (149) (141) (871) Other comprehensive income — — 544 — — — 30 (391) 183 Equity — — — — — — — — — Foreign exchange and other adjustments (44) (8) 147 (47) 39 36 (107) 98 114 At 31 Dec 2019 983 1,414 421 (1,621) 650 1,002 (1,613) 21 1,257 Assets 2 983 1,414 979 — 650 1,002 — 422 5,450 Liabilities 2 — — (558) (1,621) — — (1,613) (401) (4,193) 1 Fair value of own debt. In applying judgement in recognising deferred tax assets, management has critically assessed all available information, including future business profit projections and the track record of meeting forecasts. The Group’s net deferred tax asset of $0.2bn (2019: $1.3bn) included $2.4bn (2019: $2.8bn) of deferred tax assets relating to the US, of which $1.0bn related to US tax losses that expire in 13 to 17 years. Management expects the US deferred tax asset to be substantially recovered in seven eight five five The Group’s net deferred tax asset of $0.2bn (2019: $1.3bn) also included a net UK deferred tax asset of $0.6bn (2019: liability of $0.5bn), of which $0.5bn related to UK banking tax losses created in 2020. The net UK deferred tax asset of $0.6bn excludes the deferred tax liability arising on the UK pension scheme surplus, the reversal of which is not taken into account when estimating future taxable profits. The UK deferred tax asset is supported by forecasts of taxable profit, also taking into consideration the history of profitability in the combined UK banking entities and the fact that the loss arising in 2020 arose due to an identifiable and non-recurring reason, being the economic impacts of Covid-19. Unrecognised deferred tax The amount of gross temporary differences, unused tax losses and tax credits for which no deferred tax asset is recognised in the balance sheet was $15.6bn (2019: $9.9bn). This amount included unused UK corporation tax losses of $9.3bn (2019: $7.3bn) which were not recognised due to uncertainty regarding the availability of sufficient future taxable profits against which to recover them. Of the total amounts unrecognised, $11.5bn (2019: $7.4bn) had no expiry date, $0.7bn (2019: $1.3bn) was scheduled to expire within 10 years and the remaining balance is expected to expire after 10 years. Deferred tax is not recognised in respect of the Group’s investments in subsidiaries and branches where HSBC is able to control the timing of remittance or other realisation and where remittance or realisation is not probable in the foreseeable future. The aggregate temporary differences relating to unrecognised deferred tax liabilities arising on investments in subsidiaries and branches is $12.1bn (2019: $13.4bn) and the corresponding unrecognised deferred tax liability was $0.7bn (2019: $1.0bn). |
Dividends
Dividends | 12 Months Ended |
Dec. 31, 2020 | |
Interim Financial Reporting [Abstract] | |
Dividends | 8 Dividends Dividends to shareholders of the parent company 2020 2019 2018 Per Total Settled Per Total Settled Per Total Settled $ $m $m $ $m $m $ $m $m Dividends paid on ordinary shares In respect of previous year: – fourth interim dividend — — — 0.21 4,206 1,160 0.21 4,197 393 In respect of current year: – first interim dividend — — — 0.10 2,013 375 0.10 2,008 213 – second interim dividend — — — 0.10 2,021 795 0.10 1,990 181 – third interim dividend — — — 0.10 2,029 357 0.10 1,992 707 Total — — — 0.51 10,269 2,687 0.51 10,187 1,494 Total dividends on preference shares classified as equity (paid quarterly) 62.00 90 62.00 90 62.00 90 Total coupons on capital securities classified as equity 1,241 1,324 1,270 Dividends to shareholders 1,331 11,683 11,547 Total coupons on capital securities classified as equity 2020 2019 2018 Total Total Total Footnotes First call date Per security $m $m $m Perpetual subordinated capital securities 1, 3 $2,200m issued at 8.125% Apr 2013 $0.000 — — 89 $3,800m issued at 8.000% Dec 2015 $0.000 — — 76 Perpetual subordinated contingent convertible securities 2, 3 $1,500m issued at 5.625% 4 Nov 2019 $56.250 — 84 84 $2,000m issued at 6.875% Jun 2021 $68.750 138 138 138 $2,250m issued at 6.375% Sep 2024 $63.750 143 143 143 $2,450m issued at 6.375% Mar 2025 $63.750 156 156 156 $3,000m issued at 6.000% May 2027 $60.000 180 180 180 $2,350m issued at 6.250% Mar 2023 $62.500 147 147 73 $1,800m issued at 6.500% Mar 2028 $65.000 117 117 59 $1,500m issued at 4.600% 5 Jun 2031 $46.000 — — — €1,500m issued at 5.250% Sep 2022 €52.500 90 88 95 €1,000m issued at 6.000% Sep 2023 €60.000 67 66 72 €1,250m issued at 4.750% July 2029 €47.500 67 68 70 £1,000m issued at 5.875% Sep 2026 £58.750 74 75 — SGD1,000m issued at 4.700% Jun 2022 SGD47.000 35 34 35 SGD750m issued at 5.000% Sep 2023 SGD50.000 27 28 — Total 1,241 1,324 1,270 1 Discretionary coupons are paid quarterly on the perpetual subordinated capital securities, in denominations of $25 per security. 2 Discretionary coupons are paid semi-annually on the perpetual subordinated contingent convertible securities, in denominations of each security’s issuance currency 1,000 per security. 3 For further details of these securities, see Note 31. 4 This security was called by HSBC Holdings on 22 November 2019 and was redeemed and cancelled on 17 January 2020. Between the date of exercise of the call option and the redemption, this security was considered to be a subordinated liability. For further details on additional tier 1 securities, see Note 31. After the end of the year, the Directors approved an interim dividend in respect of the financial year ended 31 December 2020 of $0.15 per ordinary share, a distribution of approximately $3,055m. The interim dividend will be payable on 29 April 2021 to holders on the Principal Register in the UK, the Hong Kong Overseas Branch Register or the Bermuda Overseas Branch Register on 12 March 2021. No liability was recorded in the financial statements in respect of the interim dividend for 2020. On 4 January 2021, HSBC paid a coupon on its €1,250m subordinated capital securities, representing a total distribution of €30m ($36m). No liability was recorded in the balance sheet at 31 December 2020 in respect of this coupon payment. |
Earnings per share
Earnings per share | 12 Months Ended |
Dec. 31, 2020 | |
Earnings per share [abstract] | |
Earning per share | 9 Earnings per share Profit attributable to the ordinary shareholders of the parent company 2020 2019 2018 $m $m $m Profit attributable to shareholders of the parent company 5,229 7,383 13,727 Dividend payable on preference shares classified as equity (90) (90) (90) Coupon payable on capital securities classified as equity (1,241) (1,324) (1,029) Year ended 31 Dec 3,898 5,969 12,608 Basic and diluted earnings per share 2020 2019 2018 Profit Number Per Profit Number Per Profit Number Per Footnotes $m (millions) $ $m (millions) $ $m (millions) $ Basic 1 3,898 20,169 0.19 5,969 20,158 0.30 12,608 19,896 0.63 Effect of dilutive potential ordinary shares 73 75 87 Diluted 1 3,898 20,242 0.19 5,969 20,233 0.30 12,608 19,983 0.63 1 Weighted average number of ordinary shares outstanding (basic) or assuming dilution (diluted). The number of anti-dilutive employee share options excluded from the weighted average number of dilutive potential ordinary shares is 14.6 million (2019: 1.1 million; 2018: nil). |
Segmental analysis
Segmental analysis | 12 Months Ended |
Dec. 31, 2020 | |
Operating Segments [Abstract] | |
Segmental analysis | 10 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 and 2018 adjusted performance information is presented on a constant currency basis. The 2019 and 2018 income statements are converted at the average rates of exchange for 2020, and the balance sheets at 31 December 2019 and 31 December 2018 at the prevailing rates of exchange on 31 December 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 the second quarter of 2020, 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 Markets Treasury, hyperinflation accounting in Argentina and HSBC 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 2020 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 22,013 13,312 15,303 (262) 50,366 – external 19,990 13,741 18,162 (1,527) 50,366 – inter-segment 2,023 (429) (2,859) 1,265 — of which: net interest income/(expense) 15,090 9,317 4,518 (1,326) 27,599 Change in expected credit losses and other credit impairment (charges)/recoveries (2,855) (4,754) (1,209) 1 (8,817) Net operating income/(expense) 19,158 8,558 14,094 (261) 41,549 Total operating expenses (15,024) (6,689) (9,264) (482) (31,459) Operating profit/(loss) 4,134 1,869 4,830 (743) 10,090 Share of profit in associates and joint ventures 6 (1) — 2,054 2,059 Adjusted profit before tax 4,140 1,868 4,830 1,311 12,149 % % % % % Share of HSBC’s adjusted profit before tax 34.1 15.4 39.7 10.8 100.0 Adjusted cost efficiency ratio 68.3 50.2 60.5 (184.0) 62.5 Adjusted balance sheet data $m $m $m $m $m Loans and advances to customers (net) 469,186 343,182 224,364 1,255 1,037,987 Interests in associates and joint ventures 447 14 143 26,080 26,684 Total external assets 881,918 570,295 1,347,440 184,511 2,984,164 Customer accounts 834,759 470,428 336,983 610 1,642,780 HSBC adjusted profit before tax and balance sheet data (continued) 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 25,565 15,164 14,869 (654) 54,944 – external 21,252 16,094 20,314 (2,716) 54,944 – inter-segment 4,313 (930) (5,445) 2,062 — of which: net interest income/(expense) 17,423 10,957 5,223 (3,264) 30,339 Change in expected credit losses and other credit impairment (charges)/recoveries (1,348) (1,162) (153) 36 (2,627) Net operating income/(expense) 24,217 14,002 14,716 (618) 52,317 Total operating expenses (15,388) (6,832) (9,544) (755) (32,519) Operating profit/(loss) 8,829 7,170 5,172 (1,373) 19,798 Share of profit in associates and joint ventures 54 — — 2,297 2,351 Adjusted profit before tax 8,883 7,170 5,172 924 22,149 % % % % % Share of HSBC’s adjusted profit before tax 40.1 32.4 23.4 4.2 100.0 Adjusted cost efficiency ratio 60.2 45.1 64.2 (115.4) 59.2 Adjusted balance sheet data $m $m $m $m $m Loans and advances to customers (net) 455,618 353,781 252,131 1,166 1,062,696 Interests in associates and joint ventures 449 14 16 24,941 25,420 Total external assets 793,100 523,585 1,310,772 156,354 2,783,811 Customer accounts 768,151 397,182 304,094 780 1,470,207 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 2020. Comparative data have been re-presented accordingly. HSBC adjusted profit before tax and balance sheet data (continued) 2018 2 Wealth and Personal Banking Commercial Global Corporate Total Footnotes $m $m $m $m $m Net operating income/(expense) before change in expected credit losses and other credit impairment charges 1 23,551 14,374 15,056 (883) 52,098 – external 19,096 14,675 18,780 (453) 52,098 – inter-segment 4,455 (301) (3,724) (430) — of which: net interest income/(expense) 16,418 10,220 4,880 (2,070) 29,448 Change in expected credit losses and other credit impairment (charges)/recoveries (1,072) (683) 34 101 (1,620) Net operating income/(expense) 22,479 13,691 15,090 (782) 50,478 Total operating expenses (14,614) (6,307) (9,316) (1,486) (31,723) Operating profit/(loss) 7,865 7,384 5,774 (2,268) 18,755 Share of profit in associates and joint ventures 32 — — 2,412 2,444 Adjusted profit before tax 7,897 7,384 5,774 144 21,199 % % % % % Share of HSBC’s adjusted profit before tax 37.3 34.8 27.2 0.7 100.0 Adjusted cost efficiency ratio 62.1 43.9 61.9 (168.3) 60.9 Adjusted balance sheet data $m $m $m $m $m Loans and advances to customers (net) 419,231 344,855 253,319 1,599 1,019,004 Interests in associates and joint ventures 399 — — 22,753 23,152 Total external assets 741,222 520,403 1,261,807 128,021 2,651,453 Customer accounts 729,902 372,551 306,438 831 1,409,722 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 2020. Comparative data have been re-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: 2020 2019 2018 Footnotes $m $m $m Reported external net operating income by country/territory 1 50,429 56,098 53,780 – UK 9,163 9,011 10,340 – Hong Kong 15,783 18,449 17,162 – US 4,474 4,471 4,379 – France 1,753 1,942 1,898 – other countries 19,256 22,225 20,001 1 Net operating income before change in expected credit losses and other credit impairment charges, also referred to as revenue. Adjusted results reconciliation 2020 2019 2018 Adjusted Significant Reported Adjusted Currency Significant Reported Adjusted Currency Significant Reported Footnotes $m $m $m $m $m $m $m $m $m $m $m Revenue 1 50,366 63 50,429 54,944 471 683 56,098 52,098 1,854 (172) 53,780 ECL (8,817) — (8,817) (2,627) (129) — (2,756) (1,620) (147) — (1,767) Operating expenses (31,459) (2,973) (34,432) (32,519) (223) (9,607) (42,349) (31,723) (1,280) (1,656) (34,659) Share of profit in associates and joint ventures 2,059 (462) 1,597 2,351 3 — 2,354 2,444 92 — 2,536 Profit/(loss) before tax 12,149 (3,372) 8,777 22,149 122 (8,924) 13,347 21,199 519 (1,828) 19,890 1 Net operating income before change in expected credit losses and other credit impairment charges, also referred to as revenue. Adjusted balance sheet reconciliation 2020 2019 2018 Reported and Adjusted Currency translation Reported Adjusted Currency translation Reported $m $m $m $m $m $m $m Loans and advances to customers (net) 1,037,987 1,062,696 (25,953) 1,036,743 1,019,004 (37,308) 981,696 Interests in associates and joint ventures 26,684 25,420 (946) 24,474 23,152 (745) 22,407 Total external assets 2,984,164 2,783,811 (68,659) 2,715,152 2,651,453 (93,329) 2,558,124 Customer accounts 1,642,780 1,470,207 (31,092) 1,439,115 1,409,722 (47,079) 1,362,643 Adjusted profit reconciliation 2020 2019 2018 Footnotes $m $m $m Year ended 31 Dec Adjusted profit before tax 12,149 22,149 21,199 Significant items (3,372) (8,924) (1,828) – customer redress programmes (revenue) (21) (163) 53 – disposals, acquisitions and investment in new businesses (revenue) (10) 768 (113) – fair value movements on financial instruments 1 264 84 (100) – restructuring and other related costs (revenue) 2 (170) — — – costs of structural reform 3 — (158) (361) – customer redress programmes (operating expenses) 54 (1,281) (146) – disposals, acquisitions and investment in new businesses (operating expenses) — — (52) – impairment of goodwill and other intangible assets (1,090) (7,349) — – past service costs of guaranteed minimum pension benefits equalisation (17) — (228) – restructuring and other related costs (operating expenses) 4 (1,908) (827) (66) – settlements and provisions in connection with legal and other regulatory matters (12) 61 (816) – impairment of goodwill (share of profit in associates and joint ventures) 5 (462) — — – currency translation on significant items (59) 1 Currency translation 122 519 Reported profit before tax 8,777 13,347 19,890 1 Includes fair value movements on non-qualifying hedges and debt valuation adjustments on derivatives. 2 Comprises losses associated with the RWA reduction commitments and gains relating to the business update in February 2020. 3 Comprises costs associated with preparations for the UK’s exit from the European Union, costs to establish the UK ring-fenced bank (including the UK ServCo group) and costs associated with establishing an intermediate holding company in Hong Kong. 4 Includes impairment of software intangible assets of $189m (of the total software intangible asset impairment of $1,347m) and impairment of tangible assets of $197m. 5 During the year, The Saudi British Bank ('SABB'), an associate of HSBC, impaired the goodwill that arose following the merger with Alawwal bank in 2019. HSBC's post-tax share of the goodwill impairment was $462m. |
Trading assets
Trading assets | 12 Months Ended |
Dec. 31, 2020 | |
Financial Instruments [Abstract] | |
Trading assets | 11 Trading assets 2020 2019 Footnotes $m $m Treasury and other eligible bills 24,035 21,789 Debt securities 102,846 126,043 Equity securities 77,643 78,827 Trading securities 204,524 226,659 Loans and advances to banks 1 8,242 8,402 Loans and advances to customers 1 19,224 19,210 Year ended 31 Dec 231,990 254,271 1 Loans and advances to banks and customers include reverse repos, stock borrowing and other accounts. Trading securities 1 2020 2019 Footnotes $m $m US Treasury and US Government agencies 2 17,393 25,722 UK Government 8,046 10,040 Hong Kong Government 6,500 9,783 Other governments 70,580 72,456 Asset-backed securities 3 4,253 4,691 Corporate debt and other securities 20,109 25,140 Equity securities 77,643 78,827 At 31 Dec 204,524 226,659 1 Included within these figures are debt securities issued by banks and other financial institutions of $10,876m (2019: $17,846m), of which $1,298m (2019: $2,637m) are guaranteed by various governments. 2 Includes securities that are supported by an explicit guarantee issued by the US Government. 3 Excludes asset-backed securities included under US Treasury and US Government agencies. |
Fair values of financial instru
Fair values of financial instruments carried at fair value | 12 Months Ended |
Dec. 31, 2020 | |
Fair Value Measurement [Abstract] | |
Fair values of financial instruments carried at fair value | 12 Fair values of financial instruments carried at fair value Control framework Fair values are subject to a control framework designed to ensure that they are either determined or validated by a function independent of the risk taker. Where fair values are determined by reference to externally quoted prices or observable pricing inputs to models, independent price determination or validation is used. For inactive markets, HSBC sources alternative market information, with greater weight given to information that is considered to be more relevant and reliable. Examples of the factors considered are price observability, instrument comparability, consistency of data sources, underlying data accuracy and timing of prices. For fair values determined using valuation models, the control framework includes development or validation by independent support functions of the model logic, inputs, model outputs and adjustments. Valuation models are subject to a process of due diligence before becoming operational and are calibrated against external market data on an ongoing basis. Changes in fair value are generally subject to a profit and loss analysis process and are disaggregated into high-level categories including portfolio changes, market movements and other fair value adjustments. The majority of financial instruments measured at fair value are in GBM. GBM’s fair value governance structure comprises its Finance function, Valuation Committees and a Valuation Committee Review Group. Finance is responsible for establishing procedures governing valuation and ensuring fair values are in compliance with accounting standards. The fair values are reviewed by the Valuation Committees, which consist of independent support functions. These committees are overseen by the Valuation Committee Review Group, which considers all material subjective valuations. Financial liabilities measured at fair value In certain circumstances, HSBC records its own debt in issue at fair value, based on quoted prices in an active market for the specific instrument. When quoted market prices are unavailable, the own debt in issue is valued using valuation techniques, the inputs for which are either based on quoted prices in an inactive market for the instrument or are estimated by comparison with quoted prices in an active market for similar instruments. In both cases, the fair value includes the effect of applying the credit spread that is appropriate to HSBC’s liabilities. The change in fair value of issued debt securities attributable to the Group’s own credit spread is computed as follows: for each security at each reporting date, an externally verifiable price is obtained or a price is derived using credit spreads for similar securities for the same issuer. Then, using discounted cash flow, each security is valued using a Libor-based discount curve. The difference in the valuations is attributable to the Group’s own credit spread. This methodology is applied consistently across all securities. Structured notes issued and certain other hybrid instruments are included within trading liabilities and are measured at fair value. The credit spread applied to these instruments is derived from the spreads at which HSBC issues structured notes. Gains and losses arising from changes in the credit spread of liabilities issued by HSBC, recorded in other comprehensive income, reverse over the contractual life of the debt, provided that the debt is not repaid at a premium or a discount. Fair value hierarchy Fair values of financial assets and liabilities are determined according to the following hierarchy: • Level 1 – valuation technique using quoted market price. These are financial instruments with quoted prices for identical instruments in active markets that HSBC can access at the measurement date. • Level 2 – valuation technique using observable inputs. These are financial instruments with quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in inactive markets and financial instruments valued using models where all significant inputs are observable. • Level 3 – valuation technique with significant unobservable inputs. These are financial instruments valued using valuation techniques where one or more significant inputs are unobservable. Financial instruments carried at fair value and bases of valuation 2020 2019 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total $m $m $m $m $m $m $m $m Recurring fair value measurements at 31 Dec Assets Trading assets 167,980 61,511 2,499 231,990 186,653 62,639 4,979 254,271 Financial assets designated and otherwise mandatorily measured at fair value through profit or loss 19,711 14,365 11,477 45,553 18,626 15,525 9,476 43,627 Derivatives 2,602 302,454 2,670 307,726 1,728 239,131 2,136 242,995 Financial investments 303,654 94,746 3,654 402,054 261,341 93,018 3,218 357,577 Liabilities Trading liabilities 53,290 21,814 162 75,266 66,925 16,192 53 83,170 Financial liabilities designated at fair value 1,267 150,866 5,306 157,439 9,549 149,901 5,016 164,466 Derivatives 1,788 297,025 4,188 303,001 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 $15.1bn and $2.9bn 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 Trading Designated and otherwise Derivatives Trading Designated Derivatives $m $m $m $m $m $m $m At 31 Dec 2020 Transfers from Level 1 to Level 2 4,514 3,891 245 — 155 7,414 — Transfers from Level 2 to Level 1 7,764 5,517 328 1 433 — — 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 2020 2019 GBM Corporate GBM Corporate $m $m $m $m Type of adjustment Risk-related 1,170 28 1,118 47 – bid-offer 514 — 506 1 – uncertainty 106 1 115 1 – credit valuation adjustment 445 27 355 38 – debt valuation adjustment (120) — (126) — – funding fair value adjustment 204 — 241 7 – other 21 — 27 — Model-related 74 — 71 3 – model limitation 70 — 68 3 – other 4 — 3 — Inception profit (Day 1 P&L reserves) 104 — 72 — At 31 Dec 1,348 28 1,261 50 We reallocated our reporting of Markets Treasury and the funding costs of HSBC Holdings debt from Corporate Centre to the global businesses. Comparative data have been re-presented accordingly. Fair value adjustment changes were mainly driven by an increase in inception profit (Day 1 P&L reserves), and an increase in credit valuation adjustment (‘CVA’) due to widening credit spreads and changes to derivative exposures caused by interest rates moves. Bid-offer IFRS 13 ‘Fair value measurement’ requires the use of the price within the bid-offer spread that is most representative of fair value. Valuation models will typically generate mid-market values. The bid-offer adjustment reflects the extent to which bid-offer costs would be incurred if substantially all residual net portfolio market risks were closed using available hedging instruments or by disposing of or unwinding the position. Uncertainty Certain model inputs may be less readily determinable from market data and/or the choice of model itself may be more subjective. In these circumstances, an adjustment may be necessary to reflect the likelihood that market participants would adopt more conservative values for uncertain parameters and/or model assumptions than those used in HSBC’s valuation model. Credit and debt valuation adjustments The credit valuation adjustment (‘CVA’) is an adjustment to the valuation of over-the-counter (‘OTC’) derivative contracts to reflect the possibility that the counterparty may default and that HSBC may not receive the full market value of the transactions. The debt valuation adjustment (‘DVA’) is an adjustment to the valuation of OTC derivative contracts to reflect the possibility that HSBC may default, and that it may not pay the full market value of the transactions. HSBC calculates a separate CVA and DVA for each legal entity, and for each counterparty to which the entity has exposure. With the exception of central clearing parties, all third-party counterparties are included in the CVA and DVA calculations, and these adjustments are not netted across Group entities. HSBC calculates the CVA by applying the probability of default (‘PD’) of the counterparty, conditional on the non-default of HSBC, to HSBC’s expected positive exposure to the counterparty and multiplying the result by the loss expected in the event of default. Conversely, HSBC calculates the DVA by applying the PD of HSBC, conditional on the non-default of the counterparty, to the expected positive exposure of the counterparty to HSBC and multiplying the result by the loss expected in the event of default. Both calculations are performed over the life of the potential exposure. For most products HSBC uses a simulation methodology, which incorporates a range of potential exposures over the life of the portfolio, to calculate the expected positive exposure to a counterparty. The simulation methodology includes credit mitigants, such as counterparty netting agreements and collateral agreements with the counterparty. The methodologies do not, in general, account for ‘wrong-way risk’. Wrong-way risk is an adverse correlation between the counterparty’s probability of default and the mark-to-market value of the underlying transaction. The risk can either be general, perhaps related to the currency of the issuer country, or specific to the transaction concerned. When there is significant wrong-way risk, a trade-specific approach is applied to reflect this risk in the valuation. Funding fair value adjustment The funding fair value adjustment (‘FFVA’) is calculated by applying future market funding spreads to the expected future funding exposure of any uncollateralised component of the OTC derivative portfolio. The expected future funding exposure is calculated by a simulation methodology, where available, and is adjusted for events that may terminate the exposure, such as the default of HSBC or the counterparty. The FFVA and DVA are calculated independently. Model limitation Models used for portfolio valuation purposes may be based upon a simplified set of assumptions that do not capture all current and future material market characteristics. In these circumstances, model limitation adjustments are adopted. Inception profit (Day 1 P&L reserves) Inception profit adjustments are adopted when the fair value estimated by a valuation model is based on one or more significant unobservable inputs. The accounting for inception profit adjustments is discussed in Note 1. Fair value valuation bases Financial instruments measured at fair value using a valuation technique with significant unobservable inputs – Level 3 Assets Liabilities Financial investments Trading assets Designated and otherwise mandatorily measured at fair value through profit or loss Derivatives Total Trading liabilities Designated at fair value Derivatives Total $m $m $m $m $m $m $m $m $m Private equity including strategic investments 930 4 10,971 — 11,905 4 — — 4 Asset-backed securities 1,286 523 25 — 1,834 — — — — Loans held for securitisation — — — — — — — — — Structured notes — — — — — 29 5,301 — 5,330 Derivatives with monolines — — — 68 68 — — — — Other derivatives — — — 2,602 2,602 — — 4,187 4,187 Other portfolios 1,438 1,972 481 — 3,891 129 5 1 135 At 31 Dec 2020 3,654 2,499 11,477 2,670 20,300 162 5,306 4,188 9,656 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 $2.9bn of assets in Level 3. ‘Other portfolios’ increased by $1.4bn and ‘Private equity including strategic investments’ increased by $1.5bn. Level 3 instruments are present in both ongoing and legacy businesses. Loans held for securitisation, derivatives with monolines, certain ‘other derivatives’ and predominantly all Level 3 ABSs are legacy positions. HSBC has the capability to hold these positions. Private equity including strategic investments The fair value of a private equity investment (including strategic investments) is estimated on the basis of an analysis of the investee’s financial position and results, risk profile, prospects and other factors; by reference to market valuations for similar entities quoted in an active market; the price at which similar companies have changed ownership; or from published net asset values (‘NAVs’) received. If necessary, adjustments are made to the NAV of funds to obtain the best estimate of fair value. Asset-backed securities While quoted market prices are generally used to determine the fair value of the asset-backed securities (‘ABSs’), valuation models are used to substantiate the reliability of the limited market data available and to identify whether any adjustments to quoted market prices are required. For certain ABSs, such as residential mortgage-backed securities, the valuation uses an industry standard model with assumptions relating to prepayment speeds, default rates and loss severity based on collateral type, and performance, as appropriate. The valuations output is benchmarked for consistency against observable data for securities of a similar nature. Structured notes The fair value of Level 3 structured notes is derived from the fair value of the underlying debt security, and the fair value of the embedded derivative is determined as described in the paragraph below on derivatives. These structured notes comprise principally equity-linked notes issued by HSBC, which provide the counterparty with a return linked to the performance of equity securities and other portfolios. Examples of the unobservable parameters include long-dated equity volatilities and correlations between equity prices, and interest and foreign exchange rates. Derivatives OTC derivative valuation models calculate the present value of expected future cash flows, based upon ‘no arbitrage’ principles. For many vanilla derivative products, the modelling approaches used are standard across the industry. For more complex derivative products, there may be some differences in market practice. Inputs to valuation models are determined from observable market data wherever possible, including prices available from exchanges, dealers, brokers or providers of consensus pricing. Certain inputs may not be observable in the market directly, but can be determined from observable prices via model calibration procedures or estimated from historical data or other sources. Reconciliation of fair value measurements in Level 3 of the fair value hierarchy Movement in Level 3 financial instruments Assets Liabilities Financial 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 17 (6) 504 2,281 307 (59) 3,398 – net income/(losses) from financial instruments held for trading or managed on a fair value basis — (6) — 2,281 307 — 3,398 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 504 — — (59) — – gains less losses from financial investments at fair value through other comprehensive income 17 — — — — — — – expected credit loss charges and other credit risk charges — — — — — — — Total gains recognised in other comprehensive income (‘OCI’) 1 394 115 286 143 17 204 169 – financial investments: fair value gains 270 — — — — — — – exchange differences 124 115 286 143 17 204 169 Purchases 671 687 3,701 — 66 — — New issuances — — 1 — 6 1,876 — Sales (674) (1,579) (2,042) — (260) — — Settlements (530) (1,122) (435) (1,542) (26) (1,531) (1,462) Transfers out (101) (1,790) (140) (565) (9) (777) (528) Transfers in 659 1,215 126 217 8 577 309 At 31 Dec 2020 3,654 2,499 11,477 2,670 162 5,306 4,188 Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at 31 Dec 2020 — (32) 412 707 1 (91) (1,621) – net income/(losses) from financial instruments held for trading or managed on a fair value basis — (32) — 707 1 — (1,621) – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 412 — — (91) — – loan impairment recoveries and other credit risk provisions — — — — — — — Movement in Level 3 financial instruments (continued) 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 2019 2,796 6,759 7,080 2,423 58 5,328 1,756 Total gains/(losses) recognised in profit or loss 6 (112) 587 278 (4) 195 930 – net income/(losses) from financial instruments held for trading or managed on a fair value basis — (112) — 278 (4) — 930 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 587 — — 195 — – gains less losses from financial investments at fair value through other comprehensive income 10 — — — — — — – expected credit loss charges and other credit risk charges (4) — — — — — — Total gains/(losses) recognised in other comprehensive income (‘OCI’) 1 309 76 (4) 49 1 18 52 – financial investments: fair value gains 301 — — — — — — – exchange differences 8 76 (4) 49 1 18 52 Purchases 693 2,206 2,506 — 8 157 — New issuances — 154 — — 6 1,601 — Sales (56) (895) (276) — (9) (193) — Settlements (329) (2,107) (434) (100) (7) (1,048) (162) Transfers out (488) (1,558) (23) (710) (9) (1,079) (473) Transfers in 287 456 40 196 9 37 199 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/(losses) 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 $2.9bn of assets in Level 3. ‘Financial investments’ increased by $1.2bn and ‘Private equity including strategic investments financial assets designated and otherwise mandatorily measured at fair value’ increased by $1.7bn. Effect of changes in significant unobservable assumptions to reasonably possible alternatives Sensitivity of fair values to reasonably possible alternative assumptions 2020 2019 Reflected in profit or loss Reflected in OCI Reflected in profit or loss Reflected in OCI Favourable Un- Favourable Un- Favourable Un- Favourable Un- Footnotes $m $m $m $m $m $m $m $m Derivatives, trading assets and trading liabilities 1 229 (244) — — 255 (230) — — Financial assets and liabilities designated and otherwise mandatorily measured at fair value through profit or loss 644 (643) — — 618 (503) — — Financial investments 35 (35) 110 (110) 48 (53) 81 (81) At 31 Dec 908 (922) 110 (110) 921 (786) 81 (81) 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 $59m and $86m 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 above table reflects the most favourable or the most unfavourable change from varying the assumptions individually. Key unobservable inputs to Level 3 financial instruments The following table lists key unobservable inputs to Level 3 financial instruments and provides the range of those inputs at 31 December 2020. Quantitative information about significant unobservable inputs in Level 3 valuations Fair value 2020 2019 Assets Liabilities Valuation Key unobservable Full range Full range $m $m Lower Higher Lower Higher Private equity including strategic investments 11,905 4 See below See below Asset-backed securities 1,834 — – collateralised loan/debt obligation 59 — Market proxy Prepayment rate 0% 9% 0% 9% Market proxy Bid quotes 0 100 0 100 – other ABSs 1,775 — Market proxy Bid quotes 0 101 0 101 Loans held for securitisation — — Structured notes — 5,330 – equity-linked notes — 4,069 Model – Option model Equity volatility 6% 115% 5% 90% Model – Option model Equity correlation (4)% 88% 9% 93% – FX-linked notes — 608 Model – Option model FX volatility 0% 36% 1% 23% – other — 653 Derivatives with monolines 68 — Model – Discounted cash flow Credit spread 2% 2% 0% 2% Other derivatives 2,602 4,187 – interest rate derivatives 1,300 1,414 securitisation swaps 285 707 Model – Discounted cash flow Prepayment rate 6% 6% 6% 7% long-dated swaptions 529 370 Model – Option model IR volatility 6% 28% 8% 22% other 486 337 – FX derivatives 468 466 FX options 152 194 Model – Option model FX volatility 0% 43% 1% 25% other 316 272 – equity derivatives 754 2,244 long-dated single stock options 583 1,091 Model – Option model Equity volatility 0% 120% 0% 89% other 171 1,153 – credit derivatives 80 63 other 80 63 Other portfolios 3,891 135 – structured certificates — — Model – Discounted cash flow Credit volatility — — 4% 4% – repurchase agreements 872 128 Model – Discounted cash flow IR curve 0% 5% 1% 8% – other 1 3,019 7 At 31 Dec 2020 20,300 9,656 1 ‘Other’ includes a range of smaller asset holdings. Private equity including strategic investments Given the bespoke nature of the analysis in respect of each private equity holding, it is not practical to quote a range of key unobservable inputs. Prepayment rates Prepayment rates are a measure of the anticipated future speed at which a loan portfolio will be repaid in advance of the due date. They vary according to the nature of the loan portfolio and expectations of future market conditions, and may be estimated using a variety of evidence, such as prepayment rates implied from proxy observable security prices, current or historical prepayment rates and macroeconomic modelling. Market proxy Market proxy pricing may be used for an instrument when specific market pricing is not available but there is evidence from instruments with common characteristics. In some cases it might be possible to identify a specific proxy, but more generally evidence across a wider range of instruments will be used to understand the factors that influence current market pricing and the manner of that influence. Volatility Volatility is a measure of the anticipated future variability of a market price. It varies by underlying reference market price, and by strike and maturity of the option. Certain volatilities, typically those of a longer-dated nature, are unobservable and are estimated from observable data. The range of unobservable volatilities reflects the wide variation in volatility inputs by reference market price. The core range is significantly narrower than the full range because these examples with extreme volatilities occur relatively rarely within the HSBC portfolio. Correlation Correlation is a measure of the inter-relationship between two market prices and is expressed as a number between minus one and one. It is used to value more complex instruments where the payout is dependent upon more than one market price. There is a wide range of instruments for which correlation is an input, and consequently a wide range of both same-asset correlations and cross-asset correlations is used. In general, the range of same-asset correlations will be narrower than the range of cross-asset correlations. Unobservable correlations may be estimated based upon a range of evidence, including consensus pricing services, HSBC trade prices, proxy correlations and examination of historical price relationships. The range of unobservable correlations quoted in the table reflects the wide variation in correlation inputs by market price pair. Credit spread Credit spread is the premium over a benchmark interest rate required by the market to accept lower credit quality. In a discounted cash flow model, the credit spread increases the discount factors applied to future cash flows, thereby reducing the value of an asset. Credit spreads may be implied from market prices and may not be observable in more illiquid markets. Inter-relationships between key unobservable inputs Key unobservable inputs to Level 3 financial instruments may not be independent of each other. As described above, market variables may be correlated. This correlation typically reflects the manner in which different markets tend to react to macroeconomic or other events. Furthermore, the effect of changing market variables on the HSBC portfolio will depend on HSBC’s net risk position in respect of each variable. HSBC Holdings Basis of valuing HSBC Holdings’ financial assets and liabilities measured at fair value 2020 2019 $m $m Valuation technique using observable inputs: Level 2 Assets at 31 Dec – derivatives 4,698 2,002 – designated and otherwise mandatorily measured at fair value through profit or loss 65,253 61,964 Liabilities at 31 Dec – designated at fair value 25,664 30,303 – derivatives 3,060 2,021 13 Fair values of financial instruments not carried at fair value Fair values of financial instruments not carried at fair value and bases of valuation Fair value Carrying Quoted market Observable Significant Total $m $m $m $m $m At 31 Dec 2020 Assets Loans and advances to banks 81,616 — 80,457 1,339 81,796 Loans and advances to customers 1,037,987 — 9,888 1,025,573 1,035,461 Reverse repurchase agreements – non-trading 230,628 — 230,330 272 230,602 Financial investments – at amortised cost 88,639 28,722 67,572 507 96,801 Liabilities Deposits by banks 82,080 — 81,996 — 81,996 Customer accounts 1,642,780 — 1,642,988 143 1,643,131 Repurchase agreements – non-trading 111,901 3 111,898 — 111,901 Debt securities in issue 95,492 — 96,371 657 97,028 Subordinated liabilities 21,951 — 28,552 — 28,552 At 31 Dec 2019 Assets Loans and advances to banks 69,203 — 68,508 739 69,247 Loans and advances to customers 1,036,743 — 10,365 1,027,178 1,037,543 Reverse repurchase agreements – non-trading 240,862 16 240,199 691 240,906 Financial investments – at amortised cost 85,735 26,202 62,572 287 89,061 Liabilities Deposits by banks 59,022 — 58,951 — 58,951 Customer accounts 1,439,115 — 1,439,362 150 1,439,512 Repurchase agreements – non-trading 140,344 — 140,344 — 140,344 Debt securities in issue 104,555 — 104,936 — 104,936 Subordinated liabilities 24,600 — 28,861 385 29,246 Other financial instruments not carried at fair value are typically short term in nature and reprice to current market rates frequently. Accordingly, their carrying amount is a reasonable approximation of fair value. They include cash and balances at central banks, items in the course of collection from and transmission to other banks, Hong Kong Government certificates of indebtedness and Hong Kong currency notes in circulation, all of which are measured at amortised cost. Valuation Fair value is an estimate of the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. It does not reflect the economic benefits and costs that HSBC expects to flow from an instrument’s cash flow over its expected future life. Our valuation methodologies and assumptions in determining fair values for which no observable market prices are available may differ from those of other companies. Loans and advances to banks and customers To determine the fair value of loans and advances to banks and customers, loans are segregated, as far as possible, into portfolios of similar characteristics. Fair values are based on observable market transactions, when available. When they are unavailable, fair values are estimated using valuation models incorporating a range of input assumptions. These assumptions may include: value estimates from third-party brokers reflecting over-the-counter trading activity; forward-looking discounted cash flow models, taking account of expected customer prepayment rates, using assumptions that HSBC believes are consistent with those that would be used by market participants in valuing such loans; new business rates estimates for similar loans; and trading inputs from other market participants including observed primary and secondary trades. From time to time, we may engage a third-party valuation specialist to measure the fair value of a pool of loans. The fair value of loans reflects expected credit losses at the balance sheet date and estimates of market participants’ expectations of credit losses over the life of the loans, and the fair value effect of repricing between origination and the balance sheet date. For credit-impaired loans, fair value is estimated by discounting the future cash flows over the time period they are expected to be recovered. Financial investments The fair values of listed financial investments are determined using bid market prices. The fair values of unlisted financial investments are determined using valuation techniques that incorporate the prices and future earnings streams of equivalent quoted securities. Deposits by banks and customer accounts The fair values of on-demand deposits are approximated by their carrying value. For deposits with longer-term maturities, fair values are estimated using discounted cash flows, applying current rates offered for deposits of similar remaining maturities. Debt securities in issue and subordinated liabilities Fair values in debt securities in issue and subordinated liabilities are determined using quoted market prices at the balance sheet date where available, or by reference to quoted market prices for similar instruments. Repurchase and reverse repurchase agreements – non-trading Fair values of repurchase and reverse repurchase agreements that are held on a non-trading basis provide approximate |
Fair values of financial inst_2
Fair values of financial instruments not carried at fair value | 12 Months Ended |
Dec. 31, 2020 | |
Fair Value Measurement [Abstract] | |
Fair values of financial instruments not carried at fair value | 12 Fair values of financial instruments carried at fair value Control framework Fair values are subject to a control framework designed to ensure that they are either determined or validated by a function independent of the risk taker. Where fair values are determined by reference to externally quoted prices or observable pricing inputs to models, independent price determination or validation is used. For inactive markets, HSBC sources alternative market information, with greater weight given to information that is considered to be more relevant and reliable. Examples of the factors considered are price observability, instrument comparability, consistency of data sources, underlying data accuracy and timing of prices. For fair values determined using valuation models, the control framework includes development or validation by independent support functions of the model logic, inputs, model outputs and adjustments. Valuation models are subject to a process of due diligence before becoming operational and are calibrated against external market data on an ongoing basis. Changes in fair value are generally subject to a profit and loss analysis process and are disaggregated into high-level categories including portfolio changes, market movements and other fair value adjustments. The majority of financial instruments measured at fair value are in GBM. GBM’s fair value governance structure comprises its Finance function, Valuation Committees and a Valuation Committee Review Group. Finance is responsible for establishing procedures governing valuation and ensuring fair values are in compliance with accounting standards. The fair values are reviewed by the Valuation Committees, which consist of independent support functions. These committees are overseen by the Valuation Committee Review Group, which considers all material subjective valuations. Financial liabilities measured at fair value In certain circumstances, HSBC records its own debt in issue at fair value, based on quoted prices in an active market for the specific instrument. When quoted market prices are unavailable, the own debt in issue is valued using valuation techniques, the inputs for which are either based on quoted prices in an inactive market for the instrument or are estimated by comparison with quoted prices in an active market for similar instruments. In both cases, the fair value includes the effect of applying the credit spread that is appropriate to HSBC’s liabilities. The change in fair value of issued debt securities attributable to the Group’s own credit spread is computed as follows: for each security at each reporting date, an externally verifiable price is obtained or a price is derived using credit spreads for similar securities for the same issuer. Then, using discounted cash flow, each security is valued using a Libor-based discount curve. The difference in the valuations is attributable to the Group’s own credit spread. This methodology is applied consistently across all securities. Structured notes issued and certain other hybrid instruments are included within trading liabilities and are measured at fair value. The credit spread applied to these instruments is derived from the spreads at which HSBC issues structured notes. Gains and losses arising from changes in the credit spread of liabilities issued by HSBC, recorded in other comprehensive income, reverse over the contractual life of the debt, provided that the debt is not repaid at a premium or a discount. Fair value hierarchy Fair values of financial assets and liabilities are determined according to the following hierarchy: • Level 1 – valuation technique using quoted market price. These are financial instruments with quoted prices for identical instruments in active markets that HSBC can access at the measurement date. • Level 2 – valuation technique using observable inputs. These are financial instruments with quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in inactive markets and financial instruments valued using models where all significant inputs are observable. • Level 3 – valuation technique with significant unobservable inputs. These are financial instruments valued using valuation techniques where one or more significant inputs are unobservable. Financial instruments carried at fair value and bases of valuation 2020 2019 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total $m $m $m $m $m $m $m $m Recurring fair value measurements at 31 Dec Assets Trading assets 167,980 61,511 2,499 231,990 186,653 62,639 4,979 254,271 Financial assets designated and otherwise mandatorily measured at fair value through profit or loss 19,711 14,365 11,477 45,553 18,626 15,525 9,476 43,627 Derivatives 2,602 302,454 2,670 307,726 1,728 239,131 2,136 242,995 Financial investments 303,654 94,746 3,654 402,054 261,341 93,018 3,218 357,577 Liabilities Trading liabilities 53,290 21,814 162 75,266 66,925 16,192 53 83,170 Financial liabilities designated at fair value 1,267 150,866 5,306 157,439 9,549 149,901 5,016 164,466 Derivatives 1,788 297,025 4,188 303,001 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 $15.1bn and $2.9bn 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 Trading Designated and otherwise Derivatives Trading Designated Derivatives $m $m $m $m $m $m $m At 31 Dec 2020 Transfers from Level 1 to Level 2 4,514 3,891 245 — 155 7,414 — Transfers from Level 2 to Level 1 7,764 5,517 328 1 433 — — 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 2020 2019 GBM Corporate GBM Corporate $m $m $m $m Type of adjustment Risk-related 1,170 28 1,118 47 – bid-offer 514 — 506 1 – uncertainty 106 1 115 1 – credit valuation adjustment 445 27 355 38 – debt valuation adjustment (120) — (126) — – funding fair value adjustment 204 — 241 7 – other 21 — 27 — Model-related 74 — 71 3 – model limitation 70 — 68 3 – other 4 — 3 — Inception profit (Day 1 P&L reserves) 104 — 72 — At 31 Dec 1,348 28 1,261 50 We reallocated our reporting of Markets Treasury and the funding costs of HSBC Holdings debt from Corporate Centre to the global businesses. Comparative data have been re-presented accordingly. Fair value adjustment changes were mainly driven by an increase in inception profit (Day 1 P&L reserves), and an increase in credit valuation adjustment (‘CVA’) due to widening credit spreads and changes to derivative exposures caused by interest rates moves. Bid-offer IFRS 13 ‘Fair value measurement’ requires the use of the price within the bid-offer spread that is most representative of fair value. Valuation models will typically generate mid-market values. The bid-offer adjustment reflects the extent to which bid-offer costs would be incurred if substantially all residual net portfolio market risks were closed using available hedging instruments or by disposing of or unwinding the position. Uncertainty Certain model inputs may be less readily determinable from market data and/or the choice of model itself may be more subjective. In these circumstances, an adjustment may be necessary to reflect the likelihood that market participants would adopt more conservative values for uncertain parameters and/or model assumptions than those used in HSBC’s valuation model. Credit and debt valuation adjustments The credit valuation adjustment (‘CVA’) is an adjustment to the valuation of over-the-counter (‘OTC’) derivative contracts to reflect the possibility that the counterparty may default and that HSBC may not receive the full market value of the transactions. The debt valuation adjustment (‘DVA’) is an adjustment to the valuation of OTC derivative contracts to reflect the possibility that HSBC may default, and that it may not pay the full market value of the transactions. HSBC calculates a separate CVA and DVA for each legal entity, and for each counterparty to which the entity has exposure. With the exception of central clearing parties, all third-party counterparties are included in the CVA and DVA calculations, and these adjustments are not netted across Group entities. HSBC calculates the CVA by applying the probability of default (‘PD’) of the counterparty, conditional on the non-default of HSBC, to HSBC’s expected positive exposure to the counterparty and multiplying the result by the loss expected in the event of default. Conversely, HSBC calculates the DVA by applying the PD of HSBC, conditional on the non-default of the counterparty, to the expected positive exposure of the counterparty to HSBC and multiplying the result by the loss expected in the event of default. Both calculations are performed over the life of the potential exposure. For most products HSBC uses a simulation methodology, which incorporates a range of potential exposures over the life of the portfolio, to calculate the expected positive exposure to a counterparty. The simulation methodology includes credit mitigants, such as counterparty netting agreements and collateral agreements with the counterparty. The methodologies do not, in general, account for ‘wrong-way risk’. Wrong-way risk is an adverse correlation between the counterparty’s probability of default and the mark-to-market value of the underlying transaction. The risk can either be general, perhaps related to the currency of the issuer country, or specific to the transaction concerned. When there is significant wrong-way risk, a trade-specific approach is applied to reflect this risk in the valuation. Funding fair value adjustment The funding fair value adjustment (‘FFVA’) is calculated by applying future market funding spreads to the expected future funding exposure of any uncollateralised component of the OTC derivative portfolio. The expected future funding exposure is calculated by a simulation methodology, where available, and is adjusted for events that may terminate the exposure, such as the default of HSBC or the counterparty. The FFVA and DVA are calculated independently. Model limitation Models used for portfolio valuation purposes may be based upon a simplified set of assumptions that do not capture all current and future material market characteristics. In these circumstances, model limitation adjustments are adopted. Inception profit (Day 1 P&L reserves) Inception profit adjustments are adopted when the fair value estimated by a valuation model is based on one or more significant unobservable inputs. The accounting for inception profit adjustments is discussed in Note 1. Fair value valuation bases Financial instruments measured at fair value using a valuation technique with significant unobservable inputs – Level 3 Assets Liabilities Financial investments Trading assets Designated and otherwise mandatorily measured at fair value through profit or loss Derivatives Total Trading liabilities Designated at fair value Derivatives Total $m $m $m $m $m $m $m $m $m Private equity including strategic investments 930 4 10,971 — 11,905 4 — — 4 Asset-backed securities 1,286 523 25 — 1,834 — — — — Loans held for securitisation — — — — — — — — — Structured notes — — — — — 29 5,301 — 5,330 Derivatives with monolines — — — 68 68 — — — — Other derivatives — — — 2,602 2,602 — — 4,187 4,187 Other portfolios 1,438 1,972 481 — 3,891 129 5 1 135 At 31 Dec 2020 3,654 2,499 11,477 2,670 20,300 162 5,306 4,188 9,656 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 $2.9bn of assets in Level 3. ‘Other portfolios’ increased by $1.4bn and ‘Private equity including strategic investments’ increased by $1.5bn. Level 3 instruments are present in both ongoing and legacy businesses. Loans held for securitisation, derivatives with monolines, certain ‘other derivatives’ and predominantly all Level 3 ABSs are legacy positions. HSBC has the capability to hold these positions. Private equity including strategic investments The fair value of a private equity investment (including strategic investments) is estimated on the basis of an analysis of the investee’s financial position and results, risk profile, prospects and other factors; by reference to market valuations for similar entities quoted in an active market; the price at which similar companies have changed ownership; or from published net asset values (‘NAVs’) received. If necessary, adjustments are made to the NAV of funds to obtain the best estimate of fair value. Asset-backed securities While quoted market prices are generally used to determine the fair value of the asset-backed securities (‘ABSs’), valuation models are used to substantiate the reliability of the limited market data available and to identify whether any adjustments to quoted market prices are required. For certain ABSs, such as residential mortgage-backed securities, the valuation uses an industry standard model with assumptions relating to prepayment speeds, default rates and loss severity based on collateral type, and performance, as appropriate. The valuations output is benchmarked for consistency against observable data for securities of a similar nature. Structured notes The fair value of Level 3 structured notes is derived from the fair value of the underlying debt security, and the fair value of the embedded derivative is determined as described in the paragraph below on derivatives. These structured notes comprise principally equity-linked notes issued by HSBC, which provide the counterparty with a return linked to the performance of equity securities and other portfolios. Examples of the unobservable parameters include long-dated equity volatilities and correlations between equity prices, and interest and foreign exchange rates. Derivatives OTC derivative valuation models calculate the present value of expected future cash flows, based upon ‘no arbitrage’ principles. For many vanilla derivative products, the modelling approaches used are standard across the industry. For more complex derivative products, there may be some differences in market practice. Inputs to valuation models are determined from observable market data wherever possible, including prices available from exchanges, dealers, brokers or providers of consensus pricing. Certain inputs may not be observable in the market directly, but can be determined from observable prices via model calibration procedures or estimated from historical data or other sources. Reconciliation of fair value measurements in Level 3 of the fair value hierarchy Movement in Level 3 financial instruments Assets Liabilities Financial 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 17 (6) 504 2,281 307 (59) 3,398 – net income/(losses) from financial instruments held for trading or managed on a fair value basis — (6) — 2,281 307 — 3,398 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 504 — — (59) — – gains less losses from financial investments at fair value through other comprehensive income 17 — — — — — — – expected credit loss charges and other credit risk charges — — — — — — — Total gains recognised in other comprehensive income (‘OCI’) 1 394 115 286 143 17 204 169 – financial investments: fair value gains 270 — — — — — — – exchange differences 124 115 286 143 17 204 169 Purchases 671 687 3,701 — 66 — — New issuances — — 1 — 6 1,876 — Sales (674) (1,579) (2,042) — (260) — — Settlements (530) (1,122) (435) (1,542) (26) (1,531) (1,462) Transfers out (101) (1,790) (140) (565) (9) (777) (528) Transfers in 659 1,215 126 217 8 577 309 At 31 Dec 2020 3,654 2,499 11,477 2,670 162 5,306 4,188 Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at 31 Dec 2020 — (32) 412 707 1 (91) (1,621) – net income/(losses) from financial instruments held for trading or managed on a fair value basis — (32) — 707 1 — (1,621) – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 412 — — (91) — – loan impairment recoveries and other credit risk provisions — — — — — — — Movement in Level 3 financial instruments (continued) 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 2019 2,796 6,759 7,080 2,423 58 5,328 1,756 Total gains/(losses) recognised in profit or loss 6 (112) 587 278 (4) 195 930 – net income/(losses) from financial instruments held for trading or managed on a fair value basis — (112) — 278 (4) — 930 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 587 — — 195 — – gains less losses from financial investments at fair value through other comprehensive income 10 — — — — — — – expected credit loss charges and other credit risk charges (4) — — — — — — Total gains/(losses) recognised in other comprehensive income (‘OCI’) 1 309 76 (4) 49 1 18 52 – financial investments: fair value gains 301 — — — — — — – exchange differences 8 76 (4) 49 1 18 52 Purchases 693 2,206 2,506 — 8 157 — New issuances — 154 — — 6 1,601 — Sales (56) (895) (276) — (9) (193) — Settlements (329) (2,107) (434) (100) (7) (1,048) (162) Transfers out (488) (1,558) (23) (710) (9) (1,079) (473) Transfers in 287 456 40 196 9 37 199 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/(losses) 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 $2.9bn of assets in Level 3. ‘Financial investments’ increased by $1.2bn and ‘Private equity including strategic investments financial assets designated and otherwise mandatorily measured at fair value’ increased by $1.7bn. Effect of changes in significant unobservable assumptions to reasonably possible alternatives Sensitivity of fair values to reasonably possible alternative assumptions 2020 2019 Reflected in profit or loss Reflected in OCI Reflected in profit or loss Reflected in OCI Favourable Un- Favourable Un- Favourable Un- Favourable Un- Footnotes $m $m $m $m $m $m $m $m Derivatives, trading assets and trading liabilities 1 229 (244) — — 255 (230) — — Financial assets and liabilities designated and otherwise mandatorily measured at fair value through profit or loss 644 (643) — — 618 (503) — — Financial investments 35 (35) 110 (110) 48 (53) 81 (81) At 31 Dec 908 (922) 110 (110) 921 (786) 81 (81) 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 $59m and $86m 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 above table reflects the most favourable or the most unfavourable change from varying the assumptions individually. Key unobservable inputs to Level 3 financial instruments The following table lists key unobservable inputs to Level 3 financial instruments and provides the range of those inputs at 31 December 2020. Quantitative information about significant unobservable inputs in Level 3 valuations Fair value 2020 2019 Assets Liabilities Valuation Key unobservable Full range Full range $m $m Lower Higher Lower Higher Private equity including strategic investments 11,905 4 See below See below Asset-backed securities 1,834 — – collateralised loan/debt obligation 59 — Market proxy Prepayment rate 0% 9% 0% 9% Market proxy Bid quotes 0 100 0 100 – other ABSs 1,775 — Market proxy Bid quotes 0 101 0 101 Loans held for securitisation — — Structured notes — 5,330 – equity-linked notes — 4,069 Model – Option model Equity volatility 6% 115% 5% 90% Model – Option model Equity correlation (4)% 88% 9% 93% – FX-linked notes — 608 Model – Option model FX volatility 0% 36% 1% 23% – other — 653 Derivatives with monolines 68 — Model – Discounted cash flow Credit spread 2% 2% 0% 2% Other derivatives 2,602 4,187 – interest rate derivatives 1,300 1,414 securitisation swaps 285 707 Model – Discounted cash flow Prepayment rate 6% 6% 6% 7% long-dated swaptions 529 370 Model – Option model IR volatility 6% 28% 8% 22% other 486 337 – FX derivatives 468 466 FX options 152 194 Model – Option model FX volatility 0% 43% 1% 25% other 316 272 – equity derivatives 754 2,244 long-dated single stock options 583 1,091 Model – Option model Equity volatility 0% 120% 0% 89% other 171 1,153 – credit derivatives 80 63 other 80 63 Other portfolios 3,891 135 – structured certificates — — Model – Discounted cash flow Credit volatility — — 4% 4% – repurchase agreements 872 128 Model – Discounted cash flow IR curve 0% 5% 1% 8% – other 1 3,019 7 At 31 Dec 2020 20,300 9,656 1 ‘Other’ includes a range of smaller asset holdings. Private equity including strategic investments Given the bespoke nature of the analysis in respect of each private equity holding, it is not practical to quote a range of key unobservable inputs. Prepayment rates Prepayment rates are a measure of the anticipated future speed at which a loan portfolio will be repaid in advance of the due date. They vary according to the nature of the loan portfolio and expectations of future market conditions, and may be estimated using a variety of evidence, such as prepayment rates implied from proxy observable security prices, current or historical prepayment rates and macroeconomic modelling. Market proxy Market proxy pricing may be used for an instrument when specific market pricing is not available but there is evidence from instruments with common characteristics. In some cases it might be possible to identify a specific proxy, but more generally evidence across a wider range of instruments will be used to understand the factors that influence current market pricing and the manner of that influence. Volatility Volatility is a measure of the anticipated future variability of a market price. It varies by underlying reference market price, and by strike and maturity of the option. Certain volatilities, typically those of a longer-dated nature, are unobservable and are estimated from observable data. The range of unobservable volatilities reflects the wide variation in volatility inputs by reference market price. The core range is significantly narrower than the full range because these examples with extreme volatilities occur relatively rarely within the HSBC portfolio. Correlation Correlation is a measure of the inter-relationship between two market prices and is expressed as a number between minus one and one. It is used to value more complex instruments where the payout is dependent upon more than one market price. There is a wide range of instruments for which correlation is an input, and consequently a wide range of both same-asset correlations and cross-asset correlations is used. In general, the range of same-asset correlations will be narrower than the range of cross-asset correlations. Unobservable correlations may be estimated based upon a range of evidence, including consensus pricing services, HSBC trade prices, proxy correlations and examination of historical price relationships. The range of unobservable correlations quoted in the table reflects the wide variation in correlation inputs by market price pair. Credit spread Credit spread is the premium over a benchmark interest rate required by the market to accept lower credit quality. In a discounted cash flow model, the credit spread increases the discount factors applied to future cash flows, thereby reducing the value of an asset. Credit spreads may be implied from market prices and may not be observable in more illiquid markets. Inter-relationships between key unobservable inputs Key unobservable inputs to Level 3 financial instruments may not be independent of each other. As described above, market variables may be correlated. This correlation typically reflects the manner in which different markets tend to react to macroeconomic or other events. Furthermore, the effect of changing market variables on the HSBC portfolio will depend on HSBC’s net risk position in respect of each variable. HSBC Holdings Basis of valuing HSBC Holdings’ financial assets and liabilities measured at fair value 2020 2019 $m $m Valuation technique using observable inputs: Level 2 Assets at 31 Dec – derivatives 4,698 2,002 – designated and otherwise mandatorily measured at fair value through profit or loss 65,253 61,964 Liabilities at 31 Dec – designated at fair value 25,664 30,303 – derivatives 3,060 2,021 13 Fair values of financial instruments not carried at fair value Fair values of financial instruments not carried at fair value and bases of valuation Fair value Carrying Quoted market Observable Significant Total $m $m $m $m $m At 31 Dec 2020 Assets Loans and advances to banks 81,616 — 80,457 1,339 81,796 Loans and advances to customers 1,037,987 — 9,888 1,025,573 1,035,461 Reverse repurchase agreements – non-trading 230,628 — 230,330 272 230,602 Financial investments – at amortised cost 88,639 28,722 67,572 507 96,801 Liabilities Deposits by banks 82,080 — 81,996 — 81,996 Customer accounts 1,642,780 — 1,642,988 143 1,643,131 Repurchase agreements – non-trading 111,901 3 111,898 — 111,901 Debt securities in issue 95,492 — 96,371 657 97,028 Subordinated liabilities 21,951 — 28,552 — 28,552 At 31 Dec 2019 Assets Loans and advances to banks 69,203 — 68,508 739 69,247 Loans and advances to customers 1,036,743 — 10,365 1,027,178 1,037,543 Reverse repurchase agreements – non-trading 240,862 16 240,199 691 240,906 Financial investments – at amortised cost 85,735 26,202 62,572 287 89,061 Liabilities Deposits by banks 59,022 — 58,951 — 58,951 Customer accounts 1,439,115 — 1,439,362 150 1,439,512 Repurchase agreements – non-trading 140,344 — 140,344 — 140,344 Debt securities in issue 104,555 — 104,936 — 104,936 Subordinated liabilities 24,600 — 28,861 385 29,246 Other financial instruments not carried at fair value are typically short term in nature and reprice to current market rates frequently. Accordingly, their carrying amount is a reasonable approximation of fair value. They include cash and balances at central banks, items in the course of collection from and transmission to other banks, Hong Kong Government certificates of indebtedness and Hong Kong currency notes in circulation, all of which are measured at amortised cost. Valuation Fair value is an estimate of the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. It does not reflect the economic benefits and costs that HSBC expects to flow from an instrument’s cash flow over its expected future life. Our valuation methodologies and assumptions in determining fair values for which no observable market prices are available may differ from those of other companies. Loans and advances to banks and customers To determine the fair value of loans and advances to banks and customers, loans are segregated, as far as possible, into portfolios of similar characteristics. Fair values are based on observable market transactions, when available. When they are unavailable, fair values are estimated using valuation models incorporating a range of input assumptions. These assumptions may include: value estimates from third-party brokers reflecting over-the-counter trading activity; forward-looking discounted cash flow models, taking account of expected customer prepayment rates, using assumptions that HSBC believes are consistent with those that would be used by market participants in valuing such loans; new business rates estimates for similar loans; and trading inputs from other market participants including observed primary and secondary trades. From time to time, we may engage a third-party valuation specialist to measure the fair value of a pool of loans. The fair value of loans reflects expected credit losses at the balance sheet date and estimates of market participants’ expectations of credit losses over the life of the loans, and the fair value effect of repricing between origination and the balance sheet date. For credit-impaired loans, fair value is estimated by discounting the future cash flows over the time period they are expected to be recovered. Financial investments The fair values of listed financial investments are determined using bid market prices. The fair values of unlisted financial investments are determined using valuation techniques that incorporate the prices and future earnings streams of equivalent quoted securities. Deposits by banks and customer accounts The fair values of on-demand deposits are approximated by their carrying value. For deposits with longer-term maturities, fair values are estimated using discounted cash flows, applying current rates offered for deposits of similar remaining maturities. Debt securities in issue and subordinated liabilities Fair values in debt securities in issue and subordinated liabilities are determined using quoted market prices at the balance sheet date where available, or by reference to quoted market prices for similar instruments. Repurchase and reverse repurchase agreements – non-trading Fair values of repurchase and reverse repurchase agreements that are held on a non-trading basis provide approximate |
Financial assets designated and
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | 12 Months Ended |
Dec. 31, 2020 | |
Financial Instruments [Abstract] | |
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | 14 Financial assets designated and otherwise mandatorily measured at fair value through profit or loss 2020 2019 Designated at fair value Mandatorily measured at fair value Total Designated at fair value Mandatorily measured at fair value Total $m $m $m $m $m $m Securities 2,492 39,088 41,580 2,344 35,808 38,152 – treasury and other eligible bills 635 26 661 630 31 661 – debt securities 1,857 5,250 7,107 1,714 4,838 6,552 – equity securities — 33,812 33,812 — 30,939 30,939 Loans and advances to banks and customers — 2,988 2,988 1 4,555 4,556 Other — 985 985 — 919 919 At 31 Dec 2,492 43,061 45,553 2,345 41,282 43,627 Securities 1 2020 2019 Designated at fair value Mandatorily measured at fair value Total Designated at fair value Mandatorily measured at fair value Total Footnotes $m $m $m $m $m $m Hong Kong Government 22 — 22 4 — 4 Other governments 648 674 1,322 666 754 1,420 Asset-backed securities 2 — 235 235 — 363 363 Corporate debt and other securities 1,822 4,367 6,189 1,674 3,752 5,426 Equities — 33,812 33,812 — 30,939 30,939 At 31 Dec 2,492 39,088 41,580 2,344 35,808 38,152 1 Included within these figures are debt securities issued by banks and other financial institutions of $1,180m (2019 re-presented: $1,244m), of which nil (2019: nil) are guaranteed by various governments. 2 Excludes asset-backed securities included under US Treasury and US Government agencies. |
Derivatives
Derivatives | 12 Months Ended |
Dec. 31, 2020 | |
Financial Instruments [Abstract] | |
Derivatives | 15 Derivatives Notional contract amounts and fair values of derivatives by product contract type held by HSBC Notional contract amount Fair value – Assets Fair value – Liabilities Trading Hedging Trading Hedging Total Trading Hedging Total $m $m $m $m $m $m $m $m Foreign exchange 7,606,446 35,021 106,696 309 107,005 108,903 1,182 110,085 Interest rate 15,240,867 157,436 249,204 1,914 251,118 236,594 2,887 239,481 Equities 652,288 — 14,043 — 14,043 15,766 — 15,766 Credit 269,401 — 2,590 — 2,590 3,682 — 3,682 Commodity and other 120,259 — 2,073 — 2,073 3,090 — 3,090 Gross total fair values 23,889,261 192,457 374,606 2,223 376,829 368,035 4,069 372,104 Offset (Note 30) (69,103) (69,103) At 31 Dec 2020 23,889,261 192,457 374,606 2,223 307,726 368,035 4,069 303,001 Foreign exchange 8,207,629 31,899 84,083 455 84,538 84,498 740 85,238 Interest rate 17,895,349 177,006 183,668 1,208 184,876 175,095 2,031 177,126 Equities 1,077,347 — 9,053 — 9,053 11,237 — 11,237 Credit 345,644 — 4,744 — 4,744 5,597 — 5,597 Commodity and other 93,245 — 1,523 — 1,523 2,038 — 2,038 Gross total fair values 27,619,214 208,905 283,071 1,663 284,734 278,465 2,771 281,236 Offset (Note 30) (41,739) (41,739) At 31 Dec 2019 27,619,214 208,905 283,071 1,663 242,995 278,465 2,771 239,497 The notional contract amounts of derivatives held for trading purposes and derivatives designated in hedge accounting relationships indicate the nominal value of transactions outstanding at the balance sheet date. They do not represent amounts at risk. Derivative assets and liabilities increased during 2020, driven by yield curve movements and changes in foreign exchange rates. Notional contract amounts and fair values of derivatives by product contract type held by HSBC Holdings with subsidiaries Notional contract amount Assets Liabilities Trading Hedging Trading Hedging Total Trading Hedging Total $m $m $m $m $m $m $m $m Foreign exchange 23,413 — 506 — 506 870 — 870 Interest rate 47,569 34,006 966 3,221 4,187 2,176 8 2,184 At 31 Dec 2020 70,982 34,006 1,472 3,221 4,693 3,046 8 3,054 Foreign exchange 24,980 — 161 — 161 766 — 766 Interest rate 48,937 36,769 435 1,406 1,841 1,072 183 1,255 At 31 Dec 2019 73,917 36,769 596 1,406 2,002 1,838 183 2,021 Use of derivatives For details regarding the use of derivatives, see page 228 under ‘Market risk’. Trading derivatives Most of HSBC’s derivative transactions relate to sales and trading activities. Sales activities include the structuring and marketing of derivative products to customers to enable them to take, transfer, modify or reduce current or expected risks. Trading activities include market-making and risk management. Market-making entails quoting bid and offer prices to other market participants for the purpose of generating revenue based on spread and volume. Risk management activity is undertaken to manage the risk arising from client transactions, with the principal purpose of retaining client margin. Other derivatives classified as held for trading include non-qualifying hedging derivatives. Substantially all of HSBC Holdings’ derivatives entered into with subsidiaries are managed in conjunction with financial liabilities designated at fair value. Derivatives valued using models with unobservable inputs The difference between the fair value at initial recognition (the transaction price) and the value that would have been derived had valuation techniques used for subsequent measurement been applied at initial recognition, less subsequent releases, is as shown in the following table: Unamortised balance of derivatives valued using models with significant unobservable inputs 2020 2019 Footnotes $m $m Unamortised balance at 1 Jan 73 86 Deferral on new transactions 232 145 Recognised in the income statement during the year: (205) (154) – amortisation (116) (80) – subsequent to unobservable inputs becoming observable (4) (3) – maturity, termination or offsetting derivative (85) (71) Exchange differences 4 1 Other — (5) Unamortised balance at 31 Dec 1 104 73 Cash flow hedges HSBC’s cash flow hedging instruments consist principally of interest rate swaps and cross-currency swaps that are used to manage the variability in future interest cash flows of non-trading financial assets and liabilities, arising due to changes in market interest rates and foreign-currency basis. HSBC applies macro cash flow hedging for interest rate risk exposures on portfolios of replenishing current and forecasted issuances of non-trading assets and liabilities that bear interest at variable rates, including rolling such instruments. The amounts and timing of future cash flows, representing both principal and interest flows, are projected for each portfolio of financial assets and liabilities on the basis of their contractual terms and other relevant factors, including estimates of prepayments and defaults. The aggregate cash flows representing both principal balances and interest cash flows across all portfolios are used to determine the effectiveness and ineffectiveness. Macro cash flow hedges are considered to be dynamic hedges. HSBC also hedges the variability in future cash flows on foreign-denominated financial assets and liabilities arising due to changes in foreign exchange market rates with cross-currency swaps, which are considered dynamic hedges. Hedging instrument by hedged risk Hedging instrument Hedged item Ineffectiveness Carrying amount Change in fair value 2 Change in fair value 3 Recognised in profit and loss Profit and loss presentation Notional amount 1 Assets Liabilities Balance sheet presentation Hedged risk $m $m $m $m $m $m Foreign currency 24,506 309 448 Derivatives (630) (630) — Net income from Interest rate 35,863 239 2 Derivatives 519 514 5 At 31 Dec 2020 60,369 548 450 (111) (116) 5 Foreign currency 21,385 455 254 Derivatives 341 341 — Net income from financial instruments held for trading or managed on a fair value basis Interest rate 54,253 152 46 Derivatives 195 193 2 At 31 Dec 2019 75,638 607 300 536 534 2 1 The notional contract amounts of derivatives designated in qualifying hedge accounting relationships indicate the nominal value of transactions outstanding at the balance sheet date. They do not represent amounts at risk. 2 Used in effectiveness testing; comprising the full fair value change of the hedging instrument not excluding any component. 3 Used in effectiveness assessment; comprising amount attributable to the designated hedged risk that can be a risk component. Sources of hedge ineffectiveness may arise from basis risk, including but not limited to timing differences between the hedged items and hedging instruments and hedges using instruments with a non-zero fair value. Reconciliation of equity and analysis of other comprehensive income by risk type Interest rate Foreign currency $m $m Cash flow hedging reserve at 1 Jan 2020 204 (205) Fair value gains/(losses) 514 (630) Fair value (gains)/losses reclassified from the cash flow hedge reserve to the income statement in respect of: Hedged items that have affected profit or loss (107) 822 Income taxes (79) (23) Others (37) (1) Cash flow hedging reserve at 31 Dec 2020 495 (37) Cash flow hedging reserve at 1 Jan 2019 (26) (182) Fair value gains/(losses) 193 341 Fair value (gains)/losses reclassified from the cash flow hedge reserve to the income statement in respect of: Hedged items that has affected profit or loss 99 (371) Income taxes (53) 4 Others (9) 3 Cash flow hedging reserve at 31 Dec 2019 204 (205) Hedges of net investments in foreign operations The Group applies hedge accounting in respect of certain consolidated net investments. Hedging is undertaken for Group structural exposure to changes in the US dollar-sterling exchange rate using forward foreign exchange contracts or by financing with foreign currency borrowings. This risk arises due to the Group investment in sterling functional currency subsidiaries and is only hedged for changes in spot exchange rates. At 31 December 2020, the fair values of outstanding financial instruments designated as hedges of net investments in foreign operations were assets of nil (2019: nil), liabilities of $733m (2019: $485m) and notional derivative contract values of $10,500m (2019: $10,500m). These values are included in ‘Derivatives’ presented in the balance sheet. Ineffectiveness recognised in ‘Net income from financial instruments held for trading or managed on a fair value basis’ in the year ended 31 December 2020 was nil (2019: nil) and the net investment hedge reserve was a negative $56m as of 31 December 2020 ($304m in 2019 and $780m in 2018). There were no amounts reclassified to the profit and loss account during the accounting periods presented. Interest rate benchmark reform: Amendments to IFRS 9 and IAS 39 ‘Financial Instruments’ The first set of amendments (‘Phase 1’) to IFRS 9 and IAS 39, published in September 2019 and endorsed in January 2020, primarily allows the assumption that interbank offered rates (‘Ibors’) are to continue unaltered for the purposes of forecasting hedged cash flows until such time as the uncertainty of transitioning to near risk-free rates (‘RFRs’) is resolved. The second set of amendments (‘Phase 2’), issued in August 2020 and endorsed in January 2021, allows the modification of hedge documentation to reflect the components of hedge relationships that have transitioned to RFRs on an economically equivalent basis as a direct result of the Ibor transition. While the application of Phase 1 amendments is mandatory for accounting periods starting on or after 1 January 2020, the Group chose to early adopt the Phase 2 amendments from the beginning of 2020. Significant judgement will be required in determining when Ibor transition uncertainty is resolved and therefore decide when Phase 1 amendments cease to apply and when some of the Phase 2 amendments can be applied. The notional value of the derivatives impacted by the Ibors reform but which are not used in designated hedge accounting relationships is disclosed on page 143 in the section ‘Financial instruments impacted by the Ibor reform’. The Group has cash flow and fair value hedge accounting relationships that are exposed to different Ibors, predominantly US dollar Libor, sterling Libor and Euribor, as well as overnight rates subject to the market-wide benchmarks reform such as the European Overnight Index Average rate (‘Eonia’). Existing financial instruments (such as derivatives, loans and bonds) designated in relationships referencing these benchmarks are expected to transition to RFRs in different ways and at different times. External progress on the transition to RFRs is being monitored, with the objective of ensuring a smooth transition for the Group’s hedge accounting relationships. The specific issues arising will vary with the details of each hedging relationship, but may arise due to the transition of existing products included in the designation, a change in expected volumes of products to be issued, a change in contractual terms of new products issued, or a combination of these factors. Some hedges may need to be de-designated and new relationships entered into, while others may survive the market-wide benchmarks reform. The hedge accounting relationships that are affected by Phase 1 and Phase 2 amendments are presented in the balance sheet as ‘Financial assets designated and otherwise mandatorily measured at fair value through other comprehensive income’, ‘Loans and advances to customers’, ‘Debt securities in issue’ and ‘Deposits by banks’. The notional amounts of interest rate derivatives designated in hedge accounting relationships represent the extent of the risk exposure managed by the Group that is expected to be directly affected by market-wide Ibors reform and in scope of Phase 1 and Phase 2 amendments. The cross-currency swaps designated in hedge accounting relationships and affected by Ibor reform are not significant and have not been presented below: Hedging instrument impacted by Ibor reform Hedging instrument Impacted by Ibor reform Not impacted by Ibor reform Notional amount 1 € £ $ Other Total $m $m $m $m $m $m $m Fair value hedges 17,792 3,706 32,789 10,128 64,415 57,157 121,572 Cash flow hedges 8,344 2,522 8,705 6,797 26,368 9,495 35,863 At 31 Dec 2020 26,136 6,228 41,494 16,925 90,783 66,652 157,435 Fair value hedges 20,378 4,533 41,274 13,435 79,620 43,133 122,753 Cash flow hedges 5,724 6,594 15,750 15,979 44,047 10,206 54,253 At 31 Dec 2019 26,102 11,127 57,024 29,414 123,667 53,339 177,006 1 The notional contract amounts of interest rate derivatives designated in qualifying hedge accounting relationships indicate the nominal value of transactions outstanding at the balance sheet date; they do not represent amounts at risk. During 2019, the main market event in scope of Ibor reform was the change to the calculation of Eonia to be calculated as the euro short-term rate (‘€STR’) plus a fixed spread of 8.5 basis points. This event had no material impact to the valuation of components of designated hedge accounting relationships and there were no discontinuations of existing designated relationships. The main market events in scope of Ibor reform during 2020 were the changes applied by central clearing counterparties to remunerating euro and US dollar collateral. While there was a minimal valuation impact to the derivatives in scope that are used for hedge accounting, these changes had no discontinuation impact to any of the designated relationships affected. For further details of Ibor transition, see ‘Areas of special interest’ in the Risk review on page 157. Hedging instrument impacted by Ibor reform held by HSBC Holdings Hedging instrument Impacted by Ibor reform Not impacted by Ibor reform Notional amount € £ $ Other Total $m $m $m $m $m $m $m Fair value hedges 4,290 5,393 21,081 3,242 34,006 — 34,006 At 31 Dec 2020 4,290 5,393 21,081 3,242 34,006 — 34,006 Fair value hedges 3,928 5,222 24,500 3,119 36,769 — 36,769 At 31 Dec 2019 3,928 5,222 24,500 3,119 36,769 — 36,769 |
Financial Investments
Financial Investments | 12 Months Ended |
Dec. 31, 2020 | |
Financial Instruments [Abstract] | |
Financial Investments | 16 Financial investments Carrying amount of financial investments 2020 2019 $m $m Financial investments measured at fair value through other comprehensive income 402,054 357,577 – treasury and other eligible bills 118,163 95,043 – debt securities 281,467 260,536 – equity securities 2,337 1,913 – other instruments 87 85 Debt instruments measured at amortised cost 88,639 85,735 – treasury and other eligible bills 11,757 10,476 – debt securities 76,882 75,259 At 31 Dec 490,693 443,312 Equity instruments measured at fair value through other comprehensive income Fair value Dividends recognised Type of equity instruments $m $m Investments required by central institutions 904 22 Business facilitation 1,387 22 Others 46 3 At 31 Dec 2020 2,337 47 Investments required by central institutions 738 22 Business facilitation 1,124 19 Others 51 9 At 31 Dec 2019 1,913 50 Financial investments at amortised cost and fair value 2020 2019 Amortised cost Fair value 1 Amortised cost Fair value 1 Footnotes $m $m $m $m US Treasury 75,531 78,251 79,633 80,589 US Government agencies 2 19,851 20,320 26,356 26,387 US Government-sponsored entities 10,691 11,224 8,070 8,259 UK Government 28,094 28,754 28,621 28,973 Hong Kong Government 55,483 55,507 47,824 47,820 Other governments 178,091 180,881 140,510 142,511 Asset-backed securities 3 2,708 2,536 2,954 2,889 Corporate debt and other securities 110,015 118,960 101,750 107,364 Equities 1,410 2,337 1,241 1,913 At 31 Dec 481,874 498,770 436,959 446,705 1 Included within ‘fair value’ figures are debt securities issued by banks and other financial institutions of $62bn (2019: $61bn), of which $10bn (2019: $11bn) are guaranteed by various governments. 2 Includes securities that are supported by an explicit guarantee issued by the US Government. 3 Excludes asset-backed securities included under US Government agencies and sponsored entities. Maturities of investments in debt securities at their carrying amount Up to 1 year 1 to 5 years 5 to 10 years Over 10 years Total $m $m $m $m $m Debt securities measured at fair value through other comprehensive income 72,250 131,859 42,168 35,190 281,467 Debt securities measured at amortised cost 6,135 16,499 19,437 34,811 76,882 At 31 Dec 2020 78,385 148,358 61,605 70,001 358,349 Debt securities measured at fair value through other comprehensive income 61,833 123,740 42,831 32,132 260,536 Debt securities measured at amortised cost 5,472 14,395 21,431 33,961 75,259 At 31 Dec 2019 67,305 138,135 64,262 66,093 335,795 Contractual maturities and weighted average yields of investment debt securities Up to 1 year 1 to 5 years 5 to 10 years Over 10 years Amount Yield Amount Yield Amount Yield Amount Yield $m % $m % $m % $m % Debt securities measured at fair value through other comprehensive income US Treasury 6,596 1.2 22,945 1.6 15,618 1.5 4,195 2.3 US Government agencies — — 95 1.8 43 2.8 12,608 1.8 US Government-sponsored agencies 30 2.8 789 2.2 2,988 2.5 4,968 1.8 UK Government 2,765 1.5 5,126 0.8 6,220 0.2 4,910 2.3 Hong Kong Government 84 1.6 247 1.6 167 1.8 — — Other governments 51,507 1.7 62,587 2.3 8,184 1.6 2,089 4.3 Asset-backed securities 18 2.9 93 1.4 399 1.8 2,199 1.2 Corporate debt and other securities 10,831 2.1 35,615 1.4 7,169 1.8 2,583 3.4 Total amortised cost at 31 Dec 2020 71,831 127,497 40,788 33,552 Total carrying value 72,250 131,859 42,168 35,190 Debt securities measured at amortised cost US Treasury 3,769 0.1 4,618 1.6 3,003 2.0 969 2.8 US Government agencies — — 9 3.8 13 4.5 7,084 2.6 US Government-sponsored agencies 110 2.5 258 2.7 436 2.2 1,112 3.3 Hong Kong Government 13 3.0 23 1.6 118 2.6 12 4.8 Other governments 179 3.4 370 4.1 426 3.8 1,011 4.2 Asset-backed securities — — — — — — 2 6.0 Corporate debt and other securities 2,064 3.3 11,221 3.4 15,441 3.4 24,621 3.8 Total amortised cost at 31 Dec 2020 6,135 16,499 19,437 34,811 Total carrying value 6,135 16,497 19,439 34,812 The maturity distributions of ABSs are presented in the above table on the basis of contractual maturity dates. The weighted average yield for each range of maturities is calculated by dividing the annualised interest income for the year ended 31 December 2020 by the book amount of debt securities at that date. The yields do not include the effect of related derivatives. HSBC Holdings HSBC Holdings carrying amount of financial investments 2020 2019 $m $m Debt instruments measured at amortised cost – treasury and other eligible bills 10,941 10,081 – debt securities 6,544 6,025 At 31 Dec 17,485 16,106 Financial investments at amortised cost and fair value 2020 2019 Amortised cost Fair value Amortised cost Fair value $m $m $m $m US Treasury 17,485 17,521 16,106 16,121 US Government agencies — — — — US Government-sponsored entities — — — — At 31 Dec 17,485 17,521 16,106 16,121 Maturities of investments in debt securities at their carrying amount Up to 1 year 1 to 5 years 5 to 10 years Over 10 years Total $m $m $m $m $m Debt securities measured at amortised cost 3,767 2,777 — — 6,544 At 31 Dec 2020 3,767 2,777 — — 6,544 Debt securities measured at amortised cost 3,010 3,015 — — 6,025 At 31 Dec 2019 3,010 3,015 — — 6,025 Contractual maturities and weighted average yields of investment debt securities Up to 1 year 1 to 5 years 5 to 10 years Over 10 years Amount Yield Amount Yield Amount Yield Amount Yield $m % $m % $m % $m % Debt securities measured at amortised cost US Treasury 3,767 1.5 2,777 0.3 — — — — US Government agencies — — — — — — — — US Government-sponsored agencies — — — — — — — — Total amortised cost at 31 Dec 2020 3,767 2,777 — — Total carrying value 3,767 2,777 — — 24 Financial liabilities designated at fair value HSBC 2020 2019 Footnotes $m $m Deposits by banks and customer accounts 1, 2 19,176 17,660 Liabilities to customers under investment contracts 6,385 5,893 Debt securities in issue (Note 25) 121,034 130,364 Subordinated liabilities (Note 28) 10,844 10,130 Preferred securities (Note 28) — 419 At 31 Dec 157,439 164,466 1 Structured deposits placed at HSBC Bank USA are insured by the Federal Deposit Insurance Corporation, a US government agency, up to $250,000 per depositor. HSBC Holdings 2020 2019 $m $m Debt securities in issue (Note 25) 19,624 24,687 Subordinated liabilities (Note 28) 6,040 5,616 At 31 Dec 25,664 30,303 29 Maturity analysis of assets, liabilities and off-balance sheet commitments The table on page 383 provides an analysis of consolidated total assets, liabilities and off-balance sheet commitments by residual contractual maturity at the balance sheet date. These balances are included in the maturity analysis as follows: • Trading assets and liabilities (including trading derivatives but excluding reverse repos, repos and debt securities in issue) are included in the ‘Due not more than 1 month’ time bucket, because trading balances are typically held for short periods of time. • Financial assets and liabilities with no contractual maturity (such as equity securities) are included in the ‘Due over 5 years’ time bucket. Undated or perpetual instruments are classified based on the contractual notice period, which the counterparty of the instrument is entitled to give. Where there is no contractual notice period, undated or perpetual contracts are included in the ‘Due over 5 years’ time bucket. • Non-financial assets and liabilities with no contractual maturity are included in the ‘Due over 5 years’ time bucket. • Financial instruments included within assets and liabilities of disposal groups held for sale are classified on the basis of the contractual maturity of the underlying instruments and not on the basis of the disposal transaction. • Liabilities under insurance contracts are included in the ‘Due over 5 years’ time bucket. Liabilities under investment contracts are classified in accordance with their contractual maturity. Undated investment contracts are included in the ‘Due over 5 years’ time bucket, although such contracts are subject to surrender and transfer options by the policyholders. • Loan and other credit-related commitments are classified on the basis of the earliest date they can be drawn down. HSBC Maturity analysis of assets, liabilities and off-balance sheet commitments Due not Due over Due over Due over Due over Due over Due over Due over Total $m $m $m $m $m $m $m $m $m Financial assets Cash and balances at central banks 304,481 — — — — — — — 304,481 Items in the course of collection from other banks 4,094 — — — — — — — 4,094 Hong Kong Government certificates of indebtedness 40,420 — — — — — — — 40,420 Trading assets 228,434 1,778 458 135 67 644 474 — 231,990 Financial assets designated or otherwise mandatorily measured at fair value 3,061 240 466 262 454 1,424 1,992 37,654 45,553 Derivatives 306,561 15 12 14 14 441 424 245 307,726 Loans and advances to banks 51,652 11,283 5,640 3,068 2,284 4,059 3,359 271 81,616 Loans and advances to customers 172,306 70,746 65,838 44,392 38,606 112,440 206,448 327,211 1,037,987 – personal 51,711 9,645 7,918 7,270 7,033 26,318 70,447 275,736 456,078 – corporate and commercial 101,684 55,009 51,755 31,529 28,553 76,225 125,393 47,446 517,594 – financial 18,911 6,092 6,165 5,593 3,020 9,897 10,608 4,029 64,315 Reverse repurchase agreements – non-trading 157,234 44,658 16,655 5,113 1,324 3,058 2,586 — 230,628 Financial investments 47,270 77,450 44,255 14,523 24,112 48,741 100,007 134,335 490,693 Accrued income and other financial assets 93,118 5,951 2,743 475 458 267 444 2,107 105,563 Financial assets at 31 Dec 2020 1,408,631 212,121 136,067 67,982 67,319 171,074 315,734 501,823 2,880,751 Non-financial assets — — — — — — — 103,413 103,413 Total assets at 31 Dec 2020 1,408,631 212,121 136,067 67,982 67,319 171,074 315,734 605,236 2,984,164 Off-balance sheet commitments received Loan and other credit-related commitments 60,849 — — — — — — — 60,849 Financial liabilities Hong Kong currency notes in circulation 40,420 — — — — — — — 40,420 Deposits by banks 60,973 1,396 714 695 197 718 16,757 630 82,080 Customer accounts 1 1,533,595 61,376 22,568 9,375 8,418 4,467 2,859 122 1,642,780 – personal 766,631 32,429 15,511 6,276 5,825 3,591 1,976 39 832,278 – corporate and commercial 588,887 22,856 5,963 2,966 2,058 627 777 37 624,171 – financial 178,077 6,091 1,094 133 535 249 106 46 186,331 Repurchase agreements – non-trading 102,633 3,979 2,165 386 675 16 1,035 1,012 111,901 Items in the course of transmission to other banks 4,343 — — — — — — — 4,343 Trading liabilities 70,799 3,377 400 143 185 289 72 1 75,266 Financial liabilities designated at 18,434 7,333 6,973 6,775 6,593 14,182 40,510 56,639 157,439 – debt securities in issue: covered bonds — — — — — 1,239 2,918 — 4,157 – debt securities in issue: unsecured 10,762 4,470 5,522 5,604 5,530 10,455 31,710 42,825 116,878 – subordinated liabilities and preferred securities — — — — — — 3,912 6,932 10,844 – other 2 7,672 2,863 1,451 1,171 1,063 2,488 1,970 6,882 25,560 Derivatives 300,902 264 198 38 55 237 726 581 303,001 Debt securities in issue 6,552 12,329 14,964 9,764 3,878 9,215 16,618 22,172 95,492 – covered bonds — — 28 — 750 1,275 999 — 3,052 – otherwise secured 1,094 1,585 1,001 1,000 — 274 1,640 1,590 8,184 – unsecured 5,458 10,744 13,935 8,764 3,128 7,666 13,979 20,582 84,256 Accruals and other financial liabilities 96,821 9,794 3,886 692 1,174 1,742 3,179 3,053 120,341 Subordinated liabilities 619 — 237 — 12 12 2,658 18,413 21,951 Total financial liabilities at 31 Dec 2020 2,236,091 99,848 52,105 27,868 21,187 30,878 84,414 102,623 2,655,014 Non-financial liabilities — — — — — — — 124,155 124,155 Total liabilities at 31 Dec 2020 2,236,091 99,848 52,105 27,868 21,187 30,878 84,414 226,778 2,779,169 Off-balance sheet commitments given Loan and other credit-related commitments 842,974 435 172 243 296 180 299 171 844,770 – personal 235,606 172 27 47 115 125 288 171 236,551 – corporate and commercial 471,410 250 138 194 178 37 11 — 472,218 – financial 135,958 13 7 2 3 18 — — 136,001 Maturity analysis of assets, liabilities and off-balance sheet commitments (continued) Due not Due over Due over Due over Due over Due over Due over Due over Total $m $m $m $m $m $m $m $m $m Financial assets Cash and balances at central banks 154,099 — — — — — — — 154,099 Items in the course of collection from other banks 4,956 — — — — — — — 4,956 Hong Kong Government certificates of indebtedness 38,380 — — — — — — — 38,380 Trading assets 252,009 644 412 62 452 152 540 — 254,271 Financial assets designated at fair value 4,846 74 381 200 422 780 2,356 34,568 43,627 Derivatives 241,941 150 24 27 22 112 294 425 242,995 Loans and advances to banks 41,554 7,826 4,877 2,592 2,859 6,848 2,005 642 69,203 Loans and advances to customers 190,675 82,379 61,254 36,005 36,755 106,203 227,811 295,661 1,036,743 – personal 51,893 14,547 8,562 7,245 6,931 22,923 66,761 252,275 431,137 – corporate and commercial 118,585 61,629 45,924 25,006 25,069 71,751 147,139 39,958 535,061 – financial 20,197 6,203 6,768 3,754 4,755 11,529 13,911 3,428 70,545 Reverse repurchase agreements 164,741 38,997 17,933 8,226 6,305 2,298 2,362 — 240,862 Financial investments 36,128 64,472 35,795 17,485 18,202 48,427 90,193 132,610 443,312 Accrued income and other financial assets 80,661 5,544 2,532 915 495 432 363 2,037 92,979 Financial assets at 31 Dec 2019 1,209,990 200,086 123,208 65,512 65,512 165,252 325,924 465,943 2,621,427 Non-financial assets — — — — — — — 93,725 93,725 Total assets at 31 Dec 2019 1,209,990 200,086 123,208 65,512 65,512 165,252 325,924 559,668 2,715,152 Off-balance sheet commitments received Loan and other credit-related commitments 63,199 — — — — — — — 63,199 Financial liabilities Hong Kong currency notes in circulation 38,380 — — — — — — — 38,380 Deposits by banks 46,397 4,167 2,773 454 844 2,455 876 1,056 59,022 Customer accounts 1 1,287,358 81,038 38,343 11,530 11,342 5,275 4,075 154 1,439,115 – personal 646,843 49,405 29,320 8,484 6,852 3,631 2,646 71 747,252 – corporate and commercial 479,763 24,214 7,162 2,621 3,009 1,119 1,388 41 519,317 – financial 160,752 7,419 1,861 425 1,481 525 41 42 172,546 Repurchase agreements – non-trading 132,042 3,402 1,579 1,882 59 354 2 1,024 140,344 Items in the course of transmission to other banks 4,817 — — — — — — — 4,817 Trading liabilities 82,130 209 265 148 102 287 29 — 83,170 Financial liabilities designated at fair value 12,844 4,667 4,236 4,552 5,196 26,081 43,534 63,356 164,466 – debt securities in issue: covered bonds — — — — 1,139 — 2,663 1,159 4,961 – debt securities in issue: unsecured 8,884 2,046 2,946 3,757 3,030 22,950 34,753 47,036 125,402 – subordinated liabilities and preferred securities 23 — — — — — 2,131 8,396 10,550 – other 3,937 2,621 1,290 795 1,027 3,131 3,987 6,765 23,553 Derivatives 237,901 105 73 10 18 68 540 782 239,497 Debt securities in issue 8,183 17,374 12,799 13,152 11,382 14,572 20,048 7,045 104,555 – covered bonds — — — — — 749 998 — 1,747 – otherwise secured 2,015 2 248 161 — 219 958 1,663 5,266 – unsecured 6,168 17,372 12,551 12,991 11,382 13,604 18,092 5,382 97,542 Accruals and other financial liabilities 87,796 9,078 3,914 1,244 2,058 1,592 2,823 2,890 111,395 Subordinated liabilities 1,502 — 22 1,993 100 755 424 19,804 24,600 Total financial liabilities at 31 Dec 2019 1,939,350 120,040 64,004 34,965 31,101 51,439 72,351 96,111 2,409,361 Non-financial liabilities — — — — — — — 113,123 113,123 Total liabilities at 31 Dec 2019 1,939,350 120,040 64,004 34,965 31,101 51,439 72,351 209,234 2,522,484 Off-balance sheet commitments given Loan and other credit-related commitments 794,336 600 590 313 551 442 458 318 797,608 – personal 221,952 40 39 56 167 208 392 299 223,153 – corporate and commercial 460,569 117 96 52 381 218 66 19 461,518 – financial 111,815 443 455 205 3 16 — — 112,937 1 ‘Customer accounts’ includes $463,524m (2019: $408,090m) insured by guarantee schemes. HSBC Holdings Maturity analysis of assets, liabilities and off-balance sheet commitments (continued) Due not Due over Due over Due over Due over Due over Due over Due over Total $m $m $m $m $m $m $m $m $m Financial assets Cash at bank and in hand: – balances with HSBC undertakings 2,913 — — — — — — — 2,913 Derivatives 1,473 — 5 — — 9 1,131 2,080 4,698 Loans and advances to HSBC undertakings — 600 120 — — 312 6,027 3,384 10,443 Financial assets with HSBC undertakings designated and otherwise mandatorily measured at fair value — 451 — — — 4,320 23,203 37,279 65,253 Financial investments 3,701 3,769 2,924 799 3,528 2,764 — — 17,485 Accrued income and other financial assets 1,015 275 100 33 22 — — — 1,445 Total financial assets at 31 Dec 2020 9,102 5,095 3,149 832 3,550 7,405 30,361 42,743 102,237 Non-financial assets — — — — — — — 160,936 160,936 Total assets at 31 Dec 2020 9,102 5,095 3,149 832 3,550 7,405 30,361 203,679 263,173 Financial liabilities Amounts owed to HSBC undertakings — 330 — — — — — — 330 Financial liabilities designated at fair value — 984 859 — — 3,088 3,810 16,923 25,664 – debt securities in issue — 984 859 — — 3,088 2,108 12,585 19,624 – subordinated liabilities and preferred securities — — — — — — 1,702 4,338 6,040 Derivatives 3,052 — — — — — — 8 3,060 Debt securities in issue — 503 1,621 563 — 2,186 24,489 34,667 64,029 Accruals and other financial liabilities 3,769 689 301 57 12 — 1 36 4,865 Subordinated liabilities — — — — — — 4,067 13,849 17,916 31 Dec 2020 6,821 2,506 2,781 620 12 5,274 32,367 65,483 115,864 Non-financial liabilities — — — — — — — 509 509 Total liabilities at 31 Dec 2020 6,821 2,506 2,781 620 12 5,274 32,367 65,992 116,373 Off-balance sheet commitments given Undrawn formal standby facilities, credit lines and other commitments to lend — — — — — — — — — Financial assets Cash at bank and in hand: – balances with HSBC undertakings 2,382 — — — — — — — 2,382 Derivatives 596 — — — — — 230 1,176 2,002 Loans and advances to HSBC undertakings 102 672 120 25 — 600 1,909 6,790 10,218 Loans and advances to HSBC undertakings designated at fair value — — — — — 458 24,845 36,661 61,964 Financial investments in HSBC undertakings 2,754 3,493 1,873 2,251 2,721 3,014 — — 16,106 Accrued income and other financial assets 93 277 97 48 16 12 — — 543 Total financial assets at 31 Dec 2019 5,927 4,442 2,090 2,324 2,737 4,084 26,984 44,627 93,215 Non-financial assets — — — — — — — 162,025 162,025 Total assets at 31 Dec 2019 5,927 4,442 2,090 2,324 2,737 4,084 26,984 206,652 255,240 Financial liabilities Amounts owed to HSBC undertakings — 464 — — — — — — 464 Financial liabilities designated at fair value — — — — — 5,651 6,710 17,942 30,303 – debt securities in issue — — — — — 5,651 6,710 12,326 24,687 – subordinated liabilities and preferred securities — — — — — — — 5,616 5,616 Derivatives 1,838 — — — — 20 85 78 2,021 Debt securities in issue — — — — — 10,134 23,786 22,924 56,844 Accruals and other financial liabilities 900 574 303 55 10 — — 35 1,877 Subordinated liabilities 1,503 — — — — — 2,076 14,782 18,361 Total financial liabilities at 31 Dec 2019 4,241 1,038 303 55 10 15,805 32,657 55,761 109,870 Non-financial liabilities — — — — — — — 326 326 Total liabilities at 31 Dec 2019 4,241 1,038 303 55 10 15,805 32,657 56,087 110,196 Off-balance sheet commitments given Undrawn formal standby facilities, credit lines and other commitments to lend — — — — — — — — — Contractual maturity of financial liabilities The following table shows, on an undiscounted basis, all cash flows relating to principal and future coupon payments (except for trading liabilities and derivatives not treated as hedging derivatives). For this reason, balances in the following table do not agree directly with those in our consolidated balance sheet. Undiscounted cash flows payable in relation to hedging derivative liabilities are classified according to their contractual maturities. Trading liabilities and derivatives not treated as hedging derivatives are included in the ‘Due not more than 1 month’ time bucket and not by contractual maturity. Cash flows payable by HSBC under financial liabilities by remaining contractual maturities Due not more Due over Due over Due over Due over 5 years Total $m $m $m $m $m $m Deposits by banks 61,001 1,442 1,639 17,352 632 82,066 Customer accounts 1,530,584 64,809 40,755 7,720 153 1,644,021 Repurchase agreements – non-trading 102,664 3,984 3,257 1,058 1,017 111,980 Trading liabilities 75,266 — — — — 75,266 Financial liabilities designated at fair value 1 18,815 7,556 19,243 59,835 55,475 160,924 Derivatives 300,158 356 579 1,830 2,128 305,051 Debt securities in issue 6,551 12,709 29,520 28,787 24,075 101,642 Subordinated liabilities 739 170 1,102 7,024 28,812 37,847 Other financial liabilities 140,094 9,120 5,113 5,030 2,887 162,244 2,235,872 100,146 101,208 128,636 115,179 2,681,041 Loan and other credit-related commitments 842,945 434 740 480 171 844,770 Financial guarantees 2 18,200 13 93 37 41 18,384 At 31 Dec 2020 3,097,017 100,593 102,041 129,153 115,391 3,544,195 Proportion of cash flows payable in period 87% 3% 3% 4% 3% Deposits by banks 46,471 4,167 4,227 3,371 1,084 59,320 Customer accounts 1,288,577 81,037 62,105 9,900 191 1,441,810 Repurchase agreements – non-trading 132,156 3,403 3,565 368 1,036 140,528 Trading liabilities 83,170 — — — — 83,170 Financial liabilities designated at fair value 13,447 4,666 14,747 76,155 68,045 177,060 Derivatives 237,897 105 522 1,076 1,691 241,291 Debt securities in issue 8,757 17,374 38,423 36,584 8,177 109,315 Subordinated liabilities 1,847 — 2,908 5,197 27,892 37,844 Other financial liabilities 127,898 9,079 6,792 5,637 2,992 152,398 1,940,220 119,831 133,289 138,288 111,108 2,442,736 Loan and other credit-related commitments 795,243 601 561 886 317 797,608 Financial guarantees 2 20,007 37 102 68 — 20,214 At 31 Dec 2019 2,755,470 120,469 133,952 139,242 111,425 3,260,558 Proportion of cash flows payable in period 85% 4% 4% 4% 3% 1 In 2020, cash prime brokerage balances of $3,889m have been presented as a single balance, resulting in a reclassification from customer accounts at amortised cost to provide more relevant information on the effect of these transactions on the Group’s financial position. Comparatives have not been re-presented. HSBC Holdings HSBC Holdings’ primary sources of liquidity are dividends received from subsidiaries, interest on and repayment of intra-Group loans and securities, and interest earned on its own liquid funds. HSBC Holdings also raises funds in the debt capital markets to meet the Group’s minimum requirement for own funds and eligible liabilities. HSBC Holdings uses this liquidity to meet its obligations, including interest and principal repayments on external debt liabilities, operating expenses and collateral on derivative transactions. HSBC Holdings is also subject to contingent liquidity risk by virtue of credit-related commitments and guarantees and similar contracts issued relating to its subsidiaries. Such commitments and guarantees are only issued after due consideration of HSBC Holdings’ ability to finance the commitments and guarantees and the likelihood of the need arising. HSBC Holdings actively manages the cash flows from its subsidiaries to optimise the amount of cash held at the holding company level. During 2020, consistent with the Group’s capital plan, the Group’s subsidiaries did not experience any significant restrictions on paying dividends or repaying loans and advances. Also, there are no foreseen restrictions envisaged with regard to planned dividends or payments. However, the ability of subsidiaries to pay dividends or advance monies to HSBC Holdings depends on, among other things, their respective local regulatory capital and banking requirements, exchange controls, statutory reserves, and financial and operating performance. HSBC Holdings currently has sufficient liquidity to meet its present requirements. Liquidity risk in HSBC Holdings is overseen by Holdings ALCO. This risk arises because of HSBC Holdings’ obligation to make payments to debt holders as they fall due and to pay its operating expenses. The liquidity risk related to these cash flows is managed by matching external debt obligations with internal loan cash flows and by maintaining an appropriate liquidity buffer that is monitored by Holdings ALCO. The balances in the following table are not directly comparable with those on the balance sheet of HSBC Holdings as the table incorporates, on an undiscounted basis, all cash flows relating to principal and future coupon payments (except for derivatives not treated as hedging derivatives). Undiscounted cash flows payable in relation to hedging derivative liabilities are classified according to their contractual maturities. Derivatives not treated as hedging derivatives are included in the ‘On demand’ time bucket. In addition, loan commitments and financial guarantees and similar contracts are generally not recognised on our balance sheet. The undiscounted cash flows potentially payable under financial guarantees and similar contracts are classified on the basis of the earliest date on which they can be called. Cash flows payable by HSBC Holdings under financial liabilities by remaining contractual maturities Due not more Due over 1 Due over 3 Due over 1 Due over Total Footnotes $m $m $m $m $m $m Amounts owed to HSBC undertakings — 330 — — — 330 Financial liabilities designated at fair value 70 1,109 1,412 9,110 16,104 27,805 Derivatives 3,085 — 2 — — 3,087 Debt securities in issue 135 760 3,354 31,567 37,103 72,919 Subordinated liabilities 82 156 726 7,513 21,552 30,029 Other financial liabilities 3,769 690 370 — 36 4,865 7,141 3,045 5,864 48,190 74,795 139,035 Loan commitments — — — — — — Financial guarantees 1 13,787 — — — — 13,787 At 31 Dec 2020 20,928 3,045 5,864 48,190 74,795 152,822 Amounts owed to HSBC undertakings — 464 — — — 464 Financial liabilities designated at fair value 88 168 784 14,776 18,184 34,000 Derivatives 1,838 — — 105 78 2,021 Debt securities in issue 128 244 1,137 38,690 25,310 65,509 Subordinated liabilities 1,588 154 718 5,743 21,533 29,736 Other financial liabilities 956 519 365 — — 1,840 4,598 1,549 3,004 59,314 65,105 133,570 Loan commitments — — — — — — Financial guarantees 1 11,061 — — — — 11,061 At 31 Dec 2019 15,659 1,549 3,004 59,314 65,105 144,631 1 Excludes performance guarantee contracts to which the impairment requirements in IFRS 9 are not applied. 30 Offsetting of financial assets and financial liabilities In the following table, the ‘Amounts not set off in the balance sheet’ include transactions where: • the counterparty has an offsetting exposure with HSBC and a master netting or similar arrangement is in place with a right to set off only in the event of default, insolvency or bankruptcy, or the offset criteria are otherwise not satisfied; and • in the case of derivatives and reverse repurchase/repurchase, stock borrowing/lending and similar agreements, cash and non-cash collateral has been received/pledged. For risk management purposes, the net amounts of loans and advances to customers are subject to limits, which are monitored and the relevant customer agreements are subject to review and updated, as necessary, to ensure the legal right to set off remains appropriate. Offsetting of financial assets and financial liabilities Amounts subject to enforceable netting arrangements Amounts not subject to enforceable netting arrangements 5 Total Amounts not set off in the Gross Amounts Net Financial Non-cash Cash Net Footnotes $m $m $m $m $m $m $m $m $m Financial assets Derivatives (Note 15) 1 368,057 (69,103) 298,954 (230,758) (13,766) (48,154) 6,276 8,772 307,726 Reverse repos, stock borrowing and similar agreements classified as: 2 – trading assets 21,204 (461) 20,743 (709) (20,030) — 4 1,534 22,277 – non-trading assets 318,424 (115,678) 202,746 (13,936) (188,646) (73) 91 28,258 231,004 Loans and advances to customers 3 30,983 (10,882) 20,101 (17,031) — — 3,070 428 20,529 At 31 Dec 2020 738,668 (196,124) 542,544 (262,434) (222,442) (48,227) 9,441 38,992 581,536 Derivatives (Note 15) 1 277,261 (41,739) 235,522 (171,371) (13,095) (47,404) 3,652 7,473 242,995 Reverse repos, stock borrowing and similar agreements classified as: 2 – trading assets 21,465 (280) 21,185 (1,553) (19,630) — 2 165 21,350 – non-trading assets 348,561 (134,772) 213,789 (28,826) (184,495) (189) 279 27,549 241,338 Loans and advances to customers 3 33,039 (10,128) 22,911 (18,893) — — 4,018 735 23,646 At 31 Dec 2019 680,326 (186,919) 493,407 (220,643) (217,220) (47,593) 7,951 35,922 529,329 Financial liabilities Derivatives (Note 15) 1 364,121 (69,103) 295,018 (230,758) (21,387) (37,343) 5,530 7,983 303,001 Repos, stock lending and similar agreements classified as: 2 – trading liabilities 16,626 (461) 16,165 (709) (15,456) — — 159 16,324 – non-trading liabilities 200,999 (115,678) 85,321 (13,936) (71,142) (215) 28 26,580 111,901 Customer accounts 4 41,177 (10,882) 30,295 (17,031) — — 13,264 13 30,308 At 31 Dec 2020 622,923 (196,124) 426,799 (262,434) (107,985) (37,558) 18,822 34,735 461,534 Derivatives (Note 15) 1 275,286 (41,739) 233,547 (171,371) (20,137) (37,844) 4,195 5,950 239,497 Repos, stock lending and similar agreements classified as: 2 – trading liabilities 10,494 (280) 10,214 (1,553) (8,656) — 5 46 10,260 – non-trading liabilities 232,675 (134,772) 97,903 (28,826) (68,638) (357) 82 42,441 140,344 Customer accounts 4 36,750 (10,128) 26,622 (18,893) — — 7,729 31 26,653 At 31 Dec 2019 555,205 (186,919) 368,286 (220,643) (97,431) (38,201) 12,011 48,468 416,754 1 At 31 December 2020, the amount of cash margin received that had been offset against the gross derivatives assets was $7,899m (2019: $2,350m). The amount of cash margin paid that had been offset against the gross derivatives liabilities was $17,955m (2019: $8,303m). 2 For the amount of repos, reverse repos, stock lending, stock borrowing and similar agreements recognised on the balance sheet within ‘Trading assets’ $22,277m (2019: $21,350m) and ‘Trading liabilities’ $16,324m (2019: $10,260m), see the ‘Funding sources and uses’ table on page 220. 3 At 31 December 2020, the total amount of ‘Loans and advances to customers’ was $1,037,987m (2019: $1,036,743m), of which $20,101m (2019: $22,911m) was subject to offsetting. 4 At 31 December 2020, the total amount of ‘Customer accounts’ was $1,642,780m (2019: $1,439,115m), of which $30,295m (2019: $26,622m) was subject to offsetting. 5 These exposures continue to be secured by financial collateral, but we may not have sought or been able to obtain a legal opinion evidencing enforceability of the right of offset. |
Assets pledged, collateral rece
Assets pledged, collateral received and assets transferred | 12 Months Ended |
Dec. 31, 2020 | |
Financial Instruments [Abstract] | |
Assets pledged, collateral received and assets transferred | 17 Assets pledged, collateral received and assets transferred Assets pledged Financial assets pledged as collateral 2020 2019 $m $m Treasury bills and other eligible securities 12,774 14,034 Loans and advances to banks 236 1,975 Loans and advances to customers 43,168 26,017 Debt securities 67,312 60,995 Equity securities 26,101 24,626 Other 60,810 50,231 Assets pledged at 31 Dec 210,401 177,878 Assets pledged as collateral include all assets categorised as encumbered in the disclosure on page 78 of the Pillar 3 Disclosures at 31 December 2020 . The amount of assets pledged to secure liabilities may be greater than the book value of assets utilised as collateral. For example, in the case of securitisations and covered bonds, the amount of liabilities issued plus mandatory over-collateralisation is less than the book value of the pool of assets available for use as collateral. This is also the case where assets are placed with a custodian or a settlement agent that has a floating charge over all the assets placed to secure any liabilities under settlement accounts. These transactions are conducted under terms that are usual and customary for collateralised transactions including, where relevant, standard securities lending and borrowing, repurchase agreements and derivative margining. HSBC places both cash and non-cash collateral in relation to derivative transactions. Hong Kong currency notes in circulation are secured by the deposit of funds in respect of which the Hong Kong Government certificates of indebtedness are held. Financial assets pledged as collateral which the counterparty has the right to sell or repledge 2020 2019 $m $m Trading assets 64,225 63,163 Financial investments 16,915 10,782 At 31 Dec 81,140 73,945 Collateral received The fair value of assets accepted as collateral relating primarily to standard securities lending, reverse repurchase agreements, swaps of securities and derivative margining that HSBC is permitted to sell or repledge in the absence of default was $447,101m (2019: $468,798m). The fair value of any such collateral sold or repledged was $246,520m (2019: $304,261m). HSBC is obliged to return equivalent securities. These transactions are conducted under terms that are usual and customary to standard securities lending, reverse repurchase agreements and derivative margining. Assets transferred The assets pledged include transfers to third parties that do not qualify for derecognition, notably secured borrowings such as debt securities held by counterparties as collateral under repurchase agreements and equity securities lent under securities lending agreements, as well as swaps of equity and debt securities. For secured borrowings, the transferred asset collateral continues to be recognised in full while a related liability, reflecting the Group’s obligation to repurchase the assets for a fixed price at a future date, is also recognised on the balance sheet. Where securities are swapped, the transferred asset continues to be recognised in full. There is no associated liability as the non-cash collateral received is not recognised on the balance sheet. The Group is unable to use, sell or pledge the transferred assets for the duration of the transaction, and remains exposed to interest rate risk and credit risk on these pledged assets. With the exception of ‘Other sales’ in the following table, the counterparty’s recourse is not limited to the transferred assets. Transferred financial assets not qualifying for full derecognition and associated financial liabilities Carrying amount of: Fair value of: Transferred Associated Transferred Associated Net $m $m $m $m $m At 31 Dec 2020 Repurchase agreements 52,413 51,092 Securities lending agreements 38,364 124 Other sales (recourse to transferred assets only) 3,564 3,478 3,619 3,564 55 At 31 Dec 2019 Repurchase agreements 45,831 45,671 Securities lending agreements 35,122 3,225 Other sales (recourse to transferred assets only) 2,971 2,885 2,974 2,897 77 |
Interest in associates and join
Interest in associates and joint ventures | 12 Months Ended |
Dec. 31, 2020 | |
Interests In Other Entities [Abstract] | |
Interest in associates and joint ventures | 18 Interests in associates and joint ventures Carrying amount of HSBC’s interests in associates and joint ventures 2020 2019 $m $m Interests in associates 26,594 24,384 Interests in joint ventures 90 90 Interests in associates and joint ventures 26,684 24,474 Principal associates of HSBC 2020 2019 Carrying amount Fair value 1 Carrying amount Fair value 1 $m $m $m $m Bank of Communications Co., Limited 21,248 7,457 18,982 10,054 The Saudi British Bank 4,215 4,197 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). At 31 Dec 2020 Footnotes Country of incorporation Principal HSBC’s Bank of Communications Co., Limited People’s Republic of China Banking services 19.03 The Saudi British Bank 1 Saudi Arabia Banking services 31.00 1 In December 2020, HSBC purchased additional shares and increased its shareholding in The Saudi British Bank (‘SABB’) from 29.2% to 31.0%. SABB will continue to be accounted for as an associate of HSBC. A list of all associates and joint ventures is set out in Note 37. Bank of Communications Co., Limited The Group’s investment in Bank of Communications Co., Limited (‘BoCom’) is classified as an associate. Significant influence in BoCom was established with consideration of all relevant factors, including representation on BoCom’s Board of Directors and participation in a Resource and Experience Sharing (‘RES’) agreement. 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 31 Dec 2020 At 31 Dec 2019 VIU Carrying value Fair value VIU Carrying value Fair value $bn $bn $bn $bn $bn $bn BoCom 21.8 21.2 7.5 21.5 19.0 10.1 Compared with 31 December 2019, the extent to which the VIU exceeds the carrying value (‘headroom’) decreased by $1.9bn. The reduction in headroom was principally due to the impact on the VIU from 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, downward revisions to management's best estimates of BoCom's future earnings in the short to medium term, and the net impact of revisions to certain long-term assumptions. Both the VIU and the carrying value increased due to the impact of foreign exchange movements. In future periods, the VIU may increase or decrease depending on the effect of changes to model inputs. The main model inputs are described below and are based on factors observed at period-end. The factors that could result in a change in the VIU and an impairment include a short-term underperformance by BoCom, a change in regulatory capital requirements or an increase in uncertainty regarding the future performance of BoCom resulting in a downgrade of the forecast of future asset growth or profitability. An increase in the discount rate 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 into perpetuity using a long-term growth rate to derive a terminal value, which comprises the majority of the VIU. The second component is the capital maintenance charge (‘CMC’), which is management’s forecast of the earnings that need to be withheld in order for BoCom to meet regulatory capital requirements over the forecast period, meaning that CMC is deducted when arriving at management’s estimate of future earnings available to ordinary shareholders. The principal inputs to the CMC calculation include estimates of asset growth, the ratio of risk-weighted assets to total assets and the expected minimum regulatory capital requirements. An increase in the CMC as a result of a change to these principal inputs would reduce VIU. Additionally, management considers other factors, including qualitative factors, to ensure that the inputs to the VIU calculation remain appropriate. Key assumptions in value-in-use calculation We used a number of assumptions in our VIU calculation, in accordance with the requirements of IAS 36: • Long-term profit growth rate: 3% (2019: 3%) for periods after 2024, which does not exceed forecast GDP growth in mainland China and is consistent with forecasts by external analysts. • Long-term asset growth rate: 3% (2019: 3%) for periods after 2024, which is the rate that assets are expected to grow to achieve long-term profit growth of 3%. • Discount rate: 11.37% (2019: 11.24%). This is based on a capital asset pricing model (‘CAPM’) calculation for BoCom, using market data. Management also compares the rate derived from the CAPM with discount rates from external sources. The discount rate used is within the range of 10.3% to 15.0% (2019: 10.0% to 15.0%) indicated by external sources. The increased rate reflects the net impact of updates to certain components of CAPM due to elevated levels of risk arising from the impact of the Covid-19 outbreak and the disruption to global economic activity. • Expected credit losses (‘ECL’) as a percentage of customer advances: This ranges from 0.98% to 1.22% (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 2024, the ratio is 0.88% (2019: 0.76%), which is slightly higher than BoCom’s average ECL in recent years. This ratio was increased to reflect trends in BoCom’s actual results in recent years of increasing ECL and of changes to BoCom’s loan portfolio. • Risk-weighted assets as a percentage of total assets: This ranges from 61% to 62% (2019: 61%) in the short to medium term, reflecting increases that may arise from higher ECL in the short term, followed by reductions that may arise from a subsequent lowering of ECL and a continuation of the trend of strong retail loan growth. For periods after 2024, the ratio is 61% (2019: 61%). These rates are similar to BoCom’s actual results in recent years and are slightly below forecasts disclosed by external analysts. • Operating income growth rate: This ranges from 3.5% to 6.7% (2019: 4.9% to 9.4%) in the short to medium term, and is lower than BoCom’s actual results in recent years and the forecasts disclosed by external analysts, reflecting economic pressures from the Covid-19 outbreak, global trade tensions and industry developments in mainland China. • Cost-income ratio: This ranges from 36.3% to 36.8% (2019: 37.1% to 38.8%) in the short to medium term. These ratios are similar to BoCom's actual results in recent years and slightly higher than forecasts disclosed by external analysts. • Effective tax rate: This ranges from 7.8% to 16.5% (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 through the forecast period. For periods after 2024, the rate is 16.8% (2019: 22.5%), which is higher than the recent historical average. This rate was reduced on expectations of a lower effective tax rate in the long term, reflecting BoCom’s actual results in recent years and forecast financial asset composition, and forecasts disclosed by external analysts. • Capital requirements: This was based on a capital adequacy ratio of 11.5% (2019: 11.5%) and tier 1 capital adequacy ratio of 9.5% (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 22 basis points • Long-term asset growth rate • Increase by 20 basis points • Discount rate • Increase by 26 basis points • Expected credit losses as a percentage of customer advances • Increase by 3 basis points • Risk-weighted assets as a percentage of total assets • Increase by 136 basis points • Operating income growth rate • Decrease by 28 basis points • Cost-income ratio • Increase by 77 basis points • Long-term effective tax rate • Increase by 216 basis points • Capital requirements – capital adequacy ratio • Increase by 26 basis points • Capital requirements – tier 1 capital adequacy ratio • Increase by 90 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 in VIU VIU Decrease in VIU VIU bps $bn $bn bps $bn $bn At 31 Dec 2020 Long-term profit growth rate — — 21.8 (50) (1.3) 20.5 Long-term asset growth rate (50) 1.4 23.2 — — 21.8 Discount rate — 1.2 23.0 53 (1.2) 20.6 Expected credit losses as a percentage of customer advances 2020 to 2024: 96 2025 onwards: 76 2.3 24.1 2020 to 2024: 122 2025 onwards: 95 (2.1) 19.7 Risk-weighted assets as a percentage of total assets (40) 0.1 21.9 166 (0.8) 21.0 Operating income growth rate 2 0.2 22.0 (69) (1.5) 20.3 Cost-income ratio (149) 1.3 23.1 120 (1.2) 20.6 Long-term effective tax rate (316) 0.9 22.7 820 (2.2) 19.6 Capital requirements – capital adequacy ratio — — 21.8 297 (7.8) 14.0 Capital requirements – tier 1 capital adequacy ratio — — 21.8 263 (5.3) 16.5 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 2024 onwards: 70 1.0 22.5 2019 to 2023: 108 2024 onwards: 81 (1.2) 20.3 Risk-weighted assets as a percentage of total assets (96) 0.4 21.9 12 — 21.5 Operating income growth rate 14 — 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 $18.2bn to $24.2bn (2019: $18.5bn to $22.8bn). 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. Selected financial information of BoCom The statutory accounting reference date of BoCom is 31 December. For the year ended 31 December 2020, HSBC included the associate’s results on the basis of the financial statements for the 12 months ended 30 September 2020, taking into account changes in the subsequent period from 1 October 2020 to 31 December 2020 that would have materially affected the results. Selected balance sheet information of BoCom At 30 Sep 2020 2019 $m $m Cash and balances at central banks 121,987 112,239 Loans and advances to banks and other financial institutions 107,334 108,026 Loans and advances to customers 870,728 730,510 Other financial assets 508,328 435,740 Other assets 44,622 40,101 Total assets 1,652,999 1,426,616 Deposits by banks and other financial institutions 273,708 290,492 Customer accounts 1,012,732 868,627 Other financial liabilities 207,110 131,772 Other liabilities 31,105 23,074 Total liabilities 1,524,655 1,313,965 Total equity 128,344 112,651 Reconciliation of BoCom’s total shareholders’ equity to the carrying amount in HSBC’s consolidated financial statements At 30 Sep 2020 2019 $m $m HSBC’s share of total shareholders’ equity 20,743 18,509 Goodwill and other intangible assets 505 473 Carrying amount 21,248 18,982 Selected income statement information of BoCom For the 12 months ended 30 Sep 2020 2019 $m $m Net interest income 21,994 20,558 Net fee and commission income 6,398 6,411 Change in expected credit losses and other credit impairment charges (9,698) (7,479) Depreciation and amortisation (2,072) (1,934) Tax expense (858) (1,636) Profit for the year 10,261 11,175 Other comprehensive income (769) 315 Total comprehensive income 9,492 11,490 Dividends received from BoCom 633 613 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%. On 3 December 2020, HSBC purchased additional shares in SABB, which increased the Group’s shareholding to 31%. HSBC remains 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 At 31 December 2020, the fair value of the Group’s investment in SABB of $4.20bn was below the carrying amount of $4.22bn. As a result, the Group performed an impairment test on the carrying amount, which confirmed no impairment. The recoverable amount as determined by a VIU calculation is $4.74bn. 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: 2.85% for periods after 2024. This does not exceed forecast GDP growth in Saudi Arabia. • Long-term asset growth rate: 2.85% for periods after 2024. This is the rate that assets are expected to grow to achieve long-term profit growth of 2.85%. • Discount rate: 10.4%. 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 31 December 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. A reasonable change in a single key assumption may not result in impairment, although taken together a combination of reasonable changes in key assumptions could result in a recoverable amount that is lower than the carrying amount. Key assumption Reasonably possible change • Cash flow projections • Cash flow projections decrease by 15%. This could result in an impairment of $0.2bn. • Discount rate • Discount rate increases by 100 basis points. This does not result in impairment. 20 Structured entities HSBC is mainly involved with both consolidated and unconsolidated structured entities through the securitisation of financial assets, conduits and investment funds, established either by HSBC or a third party. Consolidated structured entities Total assets of HSBC’s consolidated structured entities, split by entity type Conduits Securitisations HSBC Other Total $bn $bn $bn $bn $bn At 31 Dec 2020 6.9 11.7 5.3 10.8 34.7 At 31 Dec 2019 8.6 9.6 6.8 6.7 31.7 Conduits HSBC has established and manages two types of conduits: securities investment conduits (‘SICs’) and multi-seller conduits. Securities investment conduits The SICs purchase highly rated ABSs to facilitate tailored investment opportunities. • At 31 December 2020, Solitaire, HSBC’s principal SIC, held $1.9bn of ABSs (2019: $2.1bn). It is currently funded entirely by commercial paper (‘CP’) issued to HSBC. At 31 December 2020, HSBC held $2.1bn of CP (2019: $3.2bn). Multi-seller conduit HSBC’s multi-seller conduit was established to provide access to flexible market-based sources of finance for its clients. Currently, HSBC bears risk equal to the transaction-specific facility offered to the multi-seller conduit, amounting to $9.6bn at 31 December 2020 (2019: $12.4bn). First loss protection is provided by the originator of the assets, and not by HSBC, through transaction-specific credit enhancements. A layer of secondary loss protection is provided by HSBC in the form of programme-wide enhancement facilities. Securitisations HSBC uses structured entities to securitise customer loans and advances it originates in order to diversify its sources of funding for asset origination and capital efficiency purposes. The loans and advances are transferred by HSBC to the structured entities for cash or synthetically through credit default swaps, and the structured entities issue debt securities to investors. HSBC managed funds HSBC has established a number of money market and non-money market funds. Where it is deemed to be acting as principal rather than agent in its role as investment manager, HSBC controls these funds. Other HSBC has entered into a number of transactions in the normal course of business, which include asset and structured finance transactions where it has control of the structured entity. In addition, HSBC is deemed to control a number of third-party managed funds through its involvement as a principal in the funds. Unconsolidated structured entities The term ‘unconsolidated structured entities’ refers to all structured entities not controlled by HSBC. The Group enters into transactions with unconsolidated structured entities in the normal course of business to facilitate customer transactions and for specific investment opportunities. Nature and risks associated with HSBC interests in unconsolidated structured entities Securitisations HSBC managed funds Non-HSBC managed funds Other Total Total asset values of the entities ($m) 0–500 86 292 1,430 47 1,855 500–2,000 9 94 733 2 838 2,000–5,000 — 32 389 — 421 5,000–25,000 — 14 311 — 325 25,000+ — 5 41 — 46 Number of entities at 31 Dec 2020 95 437 2,904 49 3,485 $bn $bn $bn $bn $bn Total assets in relation to HSBC’s interests in the unconsolidated structured entities 4.4 9.9 17.5 2.1 33.9 – trading assets — 0.3 3.2 — 3.5 – financial assets designated and otherwise mandatorily measured at fair value — 8.6 13.8 — 22.4 – loans and advances to customers 4.4 — — 1.5 5.9 – financial investments — 1 0.5 — 1.5 – other assets — — — 0.6 0.6 Total liabilities in relation to HSBC’s interests in the unconsolidated structured entities — — — 0.3 0.3 – other liabilities — — — 0.3 0.3 Other off-balance sheet commitments 0.1 0.5 4.9 1.2 6.7 HSBC’s maximum exposure at 31 Dec 2020 4.5 10.4 22.4 3.6 40.9 Total asset values of the entities ($m) 0–500 91 236 670 70 1,067 500–2,000 12 70 642 7 731 2,000–5,000 — 28 345 — 373 5,000–25,000 — 14 260 — 274 25,000+ — 3 39 2 44 Number of entities at 31 Dec 2019 103 351 1,956 79 2,489 $bn $bn $bn $bn $bn Total assets in relation to HSBC’s interests in the unconsolidated structured entities 5.3 9.1 15.1 4.2 33.7 – trading assets — 0.2 3.5 1.3 5 – financial assets designated and otherwise mandatorily measured at fair value — 8.4 10.7 — 19.1 – loans and advances to customers 5.3 — 0.4 2.3 8 – financial investments — 0.5 0.5 — 1 – other assets — — — 0.6 0.6 Total liabilities in relation to HSBC’s interests in the unconsolidated structured entities — — — 0.3 0.3 – other liabilities — — — 0.3 0.3 Other off-balance sheet commitments 0.3 0.3 3.9 0.7 5.2 HSBC’s maximum exposure at 31 Dec 2019 5.6 9.4 19.0 4.6 38.6 The maximum exposure to loss from HSBC’s interests in unconsolidated structured entities represents the maximum loss it could incur as a result of its involvement with these entities regardless of the probability of the loss being incurred. • For commitments, guarantees and written credit default swaps, the maximum exposure to loss is the notional amount of potential future losses. • For retained and purchased investments and loans to unconsolidated structured entities, the maximum exposure to loss is the carrying value of these interests at the balance sheet reporting date. The maximum exposure to loss is stated gross of the effects of hedging and collateral arrangements that HSBC has entered into in order to mitigate the Group's exposure to loss. Securitisations HSBC has interests in unconsolidated securitisation vehicles through holding notes issued by these entities. In addition, HSBC has investments in ABSs issued by third-party structured entities. HSBC managed funds HSBC establishes and manages money market funds and non-money market investment funds to provide customers with investment opportunities. Further information on funds under management is provided on page 106. HSBC, as fund manager, may be entitled to receive management and performance fees based on the assets under management. HSBC may also retain units in these funds. Non-HSBC managed funds HSBC purchases and holds units of third-party managed funds in order to facilitate business and meet customer needs. Other HSBC has established structured entities in the normal course of business, such as structured credit transactions for customers, to provide finance to public and private sector infrastructure projects, and for asset and structured finance transactions. In addition to the interests disclosed above, HSBC enters into derivative contracts, reverse repos and stock borrowing transactions with structured entities. These interests arise in the normal course of business for the facilitation of third-party transactions and risk management solutions. HSBC sponsored structured entities The amount of assets transferred to and income received from such sponsored structured entities during 2020 and 2019 were not significant. 37 HSBC Holdings’ subsidiaries, joint ventures and associates In accordance with section 409 of the Companies Act 2006 a list of HSBC Holdings plc subsidiaries, joint ventures and associates, the registered office addresses and the effective percentages of equity owned at 31 December 2020 are disclosed below. Unless otherwise stated, the share capital comprises ordinary or common shares that are held by Group subsidiaries. The ownership percentage is provided for each undertaking. The undertakings below are consolidated by HSBC unless otherwise indicated. Subsidiaries % of share class held by immediate parent company (or by the Group where this varies) Footnotes 452 TALF Plus ABS Opportunities SPV LLC 100.00 13 452 TALF SPV LLC 100.00 13 Almacenadora Banpacifico S.A. (In Liquidation) 99.99 14 Assetfinance December (F) Limited 100.00 15 Assetfinance December (H) Limited 100.00 16 Assetfinance December (M) Limited (In Liquidation) 100.00 17 Assetfinance December (P) Limited 100.00 16 Assetfinance December (R) Limited 100.00 16 Assetfinance June (A) Limited 100.00 16 Assetfinance June (D) Limited 100.00 15 Assetfinance Limited 100.00 16 Assetfinance March (B) Limited 100.00 18 Assetfinance March (D) Limited 100.00 15 Assetfinance March (F) Limited 100.00 16 Assetfinance September (F) Limited 100.00 16 Assetfinance September (G) Limited 100.00 15 B&Q Financial Services Limited 100.00 16 Banco HSBC S.A. 100.00 19 Banco Nominees (Guernsey) Limited 100.00 20 Banco Nominees 2 (Guernsey) Limited 100.00 20 Banco Nominees Limited 100.00 21 Beau Soleil Limited Partnership N/A 0, 22 Beijing Miyun HSBC Rural Bank Company Limited 100.00 10, 23 Billingsgate Nominees Limited (In Liquidation) 100.00 24 Canada Crescent Nominees (UK) Limited 100.00 16 Canada Square Nominees (UK) Limited 100.00 16 Capco/Cove, Inc. 100.00 25 Card-Flo #1, Inc. 100.00 13 Card-Flo #3, Inc. 100.00 13 CC&H Holdings LLC 100.00 26 CCF HOLDING (LIBAN) S.A.L. (In Liquidation) 74.99 27 Charterhouse Administrators ( D.T.) Limited 100.00 (99.99) 16 Charterhouse Management Services Limited 100.00 (99.99) 16 Charterhouse Pensions Limited 100.00 16 Chongqing Dazu HSBC Rural Bank Company Limited 100.00 10, 28 Chongqing Fengdu HSBC Rural Bank Company Limited 100.00 10, 29 Chongqing Rongchang HSBC Rural Bank Company Limited 100.00 10, 30 COIF Nominees Limited N/A 0, 16 Cordico Management AG (In Liquidation) 100.00 31 Corsair IV Financial Services Capital Partners-B, LP N/A 0, 185 Dalian Pulandian HSBC Rural Bank Company Limited 100.00 10, 32 Decision One Mortgage Company, LLC N/A 0, 33 Dem 9 100.00 (99.99) 4, 34 Dempar 1 100.00 (99.99) 4, 34 Desarrollo Turistico, S.A. de C.V. (In Liquidation) 100.00 (99.99) 14 Electronic Data Process México, S.A. de C.V. 100.00 14 Equator Holdings Limited (In Liquidation) 100.00 17 Eton Corporate Services Limited 100.00 20 Far East Leasing SA (In Dissolution) 100.00 35 Flandres Contentieux S.A. 100.00 (99.99) 34 Foncière Elysées 100.00 (99.99) 34 Fujian Yongan HSBC Rural Bank Company Limited 100.00 10, 36 Fulcher Enterprises Company Limited 100.00 (62.14) 37 Fundacion HSBC, A.C. 100.00 (99.99) 9, 14 Giller Ltd. 100.00 25 GPIF Co-Investment, LLC N/A 0, 13 Subsidiaries % of share class held by immediate parent company (or by the Group where this varies) Footnotes Griffin International Limited 100.00 16 Grundstuecksgesellschaft Trinkausstrasse Kommanditgesellschaft N/A 0, 38 Grupo Financiero HSBC, S. A. de C. V. 99.99 14 Guangdong Enping HSBC Rural Bank Company Limited 100.00 10, 39 Guangzhou HSBC Real Estate Company Ltd 100.00 40 Hang Seng (Nominee) Limited 100.00 (62.14) 37 Hang Seng Bank (China) Limited 100.00 (62.14) 41 Hang Seng Bank (Trustee) Limited 100.00 (62.14) 37 Hang Seng Bank Limited 62.14 37 Hang Seng Bullion Company Limited 100.00 (62.14) 37 Hang Seng Credit Limited 100.00 (62.14) 37 Hang Seng Data Services Limited 100.00 (62.14) 37 Hang Seng Finance Limited 100.00 (62.14) 37 Hang Seng Financial Information Limited 100.00 (62.14) 37 Hang Seng Indexes (Netherlands) B.V. 100.00 (62.14) 42 Hang Seng Indexes Company Limited 100.00 (62.14) 37 Hang Seng Insurance Company Limited 100.00 (62.14) 37 Hang Seng Investment Management Limited 100.00 (62.14) 37 Hang Seng Investment Services Limited 100.00 (62.14) 37 Hang Seng Life Limited 100.00 (62.14) 37 Hang Seng Real Estate Management Limited 100.00 (62.14) 37 Hang Seng Securities Limited 100.00 (62.14) 37 Hang Seng Security Management Limited 100.00 (62.14) 37 Haseba Investment Company Limited 100.00 (62.14) 37 HFC Bank Limited (In Liquidation) 100.00 17 High Time Investments Limited 100.00 (62.14) 37 Honey Green Enterprises Ltd. 100.00 43 Honey Grey Enterprises Limited 100.00 44 Honey Silver Enterprises Limited 100.00 44 Household International Europe Limited (In Liquidation) 100.00 17 Household Pooling Corporation 100.00 45 Housing (USA) LLP N/A HSBC (BGF) Investments Limited 100.00 16 HSBC (General Partner) Limited 100.00 2, 47 HSBC (Guernsey) GP PCC Limited 100.00 20 HSBC (Kuala Lumpur) Nominees Sdn Bhd 100.00 48 HSBC (Malaysia) Trustee Berhad 100.00 49 HSBC (Singapore) Nominees Pte Ltd 100.00 50 HSBC Agency (India) Private Limited 100.00 51 HSBC Alternative Credit Strategies General Partner S.a r.l. N/A 0, 52 HSBC Alternative Investments Limited 100.00 16 HSBC Amanah Malaysia Berhad 100.00 48 HSBC Americas Corporation (Delaware) 100.00 13 HSBC Argentina Holdings S.A. 100.00 53 HSBC Asia Holdings B.V. 100.00 16 HSBC Asia Holdings Limited 100.00 2, 44 HSBC Asia Pacific Holdings (UK) Limited 100.00 16 HSBC Asset Finance (UK) Limited 100.00 16 HSBC Asset Finance M.O.G. Holdings (UK) Limited 100.00 16 HSBC Asset Management (India) Private Limited 100.00 54 HSBC Assurances Vie (France) 100.00 (99.99) 55 HSBC Australia Holdings Pty Limited 100.00 56 HSBC BANK (CHILE) 100.00 57 HSBC Bank (China) Company Limited 100.00 10, 58 HSBC Bank (General Partner) Limited 100.00 47 HSBC Bank (Mauritius) Limited 100.00 59 HSBC Bank (RR) (Limited Liability Company) N/A 0, 11, 60 HSBC Bank (Singapore) Limited 100.00 50 HSBC Bank (Taiwan) Limited 100.00 61 HSBC Bank (Uruguay) S.A. 100.00 62 HSBC Bank (Vietnam) Ltd. 100.00 63 HSBC Bank A.S. 100.00 64 Subsidiaries % of share class held by immediate parent company (or by the Group where this varies) Footnotes HSBC Bank Argentina S.A. 100.00 53 HSBC Bank Armenia cjsc 100.00 65 HSBC Bank Australia Limited 100.00 56 HSBC Bank Bermuda Limited 100.00 21 HSBC Bank Canada 100.00 66 HSBC Bank Capital Funding (Sterling 1) LP N/A 0, 47 HSBC Bank Capital Funding (Sterling 2) LP N/A 0, 47 HSBC Bank Egypt S.A.E 99.63 (94.54) 67 HSBC Bank Malaysia Berhad 100.00 48 HSBC Bank Malta p.l.c. 70.03 68 HSBC Bank Middle East Limited 100.00 5, 69 HSBC Bank Middle East Limited Representative Office Morocco SARL (In Liquidation) 100.00 70 HSBC Bank Oman S.A.O.G. 51.00 71 HSBC Bank Pension Trust (UK) Limited 100.00 16 HSBC Bank plc 100.00 16 HSBC Bank USA, National Association 100.00 3, 72 HSBC Branch Nominee (UK) Limited 100.00 15 HSBC Brasil Holding S.A. 100.00 19 HSBC Broking Forex (Asia) Limited 100.00 44 HSBC Broking Futures (Asia) Limited 100.00 44 HSBC Broking Futures (Hong Kong) Limited 100.00 44 HSBC Broking Securities (Asia) Limited 100.00 44 HSBC Broking Securities (Hong Kong) Limited 100.00 44 HSBC Broking Services (Asia) Limited 100.00 44 HSBC Canadian Covered Bond (Legislative) Guarantor Limited Partnership N/A 0, 73 HSBC Capital (USA), Inc. 100.00 13 HSBC Capital Funding (Dollar 1) L.P. N/A 0, 47 HSBC Capital Limited 100.00 44 HSBC Card Services Inc. 100.00 13 HSBC Casa de Bolsa, S.A. de C.V., Grupo Financiero HSBC 100.00 (99.99) 14 HSBC Cayman Limited 100.00 74 HSBC Cayman Services Limited 100.00 74 HSBC City Funding Holdings 100.00 16 HSBC Client Holdings Nominee (UK) Limited 100.00 16 HSBC Client Nominee (Jersey) Limited 100.00 75 HSBC Columbia Funding, LLC N/A 0, 13 HSBC Continental Europe 99.99 34 HSBC Corporate Advisory (Malaysia) Sdn Bhd 100.00 48 HSBC Corporate Finance (Hong Kong) Limited 100.00 44 HSBC Corporate Trustee Company (UK) Limited 100.00 16 HSBC Custody Nominees (Australia) Limited 100.00 56 HSBC Custody Services (Guernsey) Limited 100.00 20 HSBC Daisy Investments (Mauritius) Limited 100.00 76 HSBC Diversified Loan Fund General Partner Sarl 100.00 77 HSBC Electronic Data Processing (Guangdong) Limited 100.00 10, 78 HSBC Electronic |
Investments in subsidiaries
Investments in subsidiaries | 12 Months Ended |
Dec. 31, 2020 | |
Interests In Other Entities [Abstract] | |
Investments in subsidiaries | 19 Investments in subsidiaries Main subsidiaries of HSBC Holdings At 31 Dec 2020 Place of incorporation or registration HSBC’s interest % Share class Europe HSBC Bank plc England and Wales 100 £1 Ordinary, $0.01 Non-cumulative third Dollar Preference HSBC UK Bank plc England and Wales 100 £1 Ordinary HSBC Continental Europe France 99.99 €5 Actions HSBC Trinkaus & Burkhardt AG 1 Germany 99.33 Stückaktien no par value Asia Hang Seng Bank Limited Hong Kong 62.14 HK$5 Ordinary HSBC Bank (China) Company Limited People’s Republic of China 100 CNY1 Ordinary HSBC Bank Malaysia Berhad Malaysia 100 RM0.5 Ordinary HSBC Life (International) Limited Bermuda 100 HK$1 Ordinary The Hongkong and Shanghai Banking Corporation Limited Hong Kong 100 Ordinary no par value Middle East and North Africa HSBC Bank Middle East Limited United Arab Emirates 100 $1 Ordinary and $1 Cumulative Redeemable Preference shares (CRP) North America HSBC Bank Canada Canada 100 Common no par value and Preference no par value HSBC Bank USA, N.A. US 100 $100 Common and $0.01 Preference Latin America HSBC Mexico, S.A., Institución de Banca Múltiple, Mexico 99.99 MXN2 Ordinary Details of the debt, subordinated debt and preference shares issued by the main subsidiaries to parties external to the Group are included in Note 25 ‘Debt securities in issue’ and Note 28 ‘Subordinated liabilities’, respectively. A list of all related undertakings is set out in Note 37. The principal countries of operation are the same as the countries and territories of incorporation except for HSBC Life (International) Limited, which operates mainly in Hong Kong. HSBC is structured as a network of regional banks and locally incorporated regulated banking entities. Each bank is separately capitalised in accordance with applicable prudential requirements and maintains a capital buffer consistent with the Group’s risk appetite for the relevant country or region. HSBC’s capital management process is incorporated in the annual operating plan, which is approved by the Board. HSBC Holdings is the primary provider of equity capital to its subsidiaries and also provides them with non-equity capital where necessary. These investments are substantially funded by HSBC Holdings’ issuance of equity and non-equity capital, and by profit retention. The net reduction in investments in subsidiaries was partly due to the impairment of HSBC Overseas Holdings (UK) Limited of $0.4bn . As part of its capital management process, HSBC Holdings seeks to maintain a balance between the composition of its capital and its investment in subsidiaries. Subject to this, there is no current or foreseen impediment to HSBC Holdings’ ability to provide funding for such investments. During 2020, consistent with the Group’s capital plan, the Group’s subsidiaries did not experience any significant restrictions on paying dividends or repaying loans and advances. Also, there are no foreseen restrictions envisaged with regard to planned dividends or payments. However, the ability of subsidiaries to pay dividends or advance monies to HSBC Holdings depends on, among other things, their respective local regulatory capital and banking requirements, exchange controls, statutory reserves, and financial and operating performance. The amount of guarantees by HSBC Holdings in favour of other Group entities is set out in Note 32. Information on structured entities consolidated by HSBC where HSBC owns less than 50% of the voting rights is included in Note 20 ‘Structured entities’. In each of these cases, HSBC controls and consolidates an entity when it is exposed, or has rights, to variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. Subsidiaries with significant non-controlling interests 2020 2019 Hang Seng Bank Limited Proportion of ownership interests and voting rights held by non-controlling interests 37.86 % 37.86% Place of business Hong Kong Hong Kong $m $m Profit attributable to non-controlling interests 843 1,229 Accumulated non-controlling interests of the subsidiary 7,604 7,262 Dividends paid to non-controlling interests 625 720 Summarised financial information: – total assets 224,483 212,485 – total liabilities 202,907 191,819 – net operating income before changes in expected credit losses and other credit impairment charges 4,568 5,558 – profit for the year 2,230 3,251 – total comprehensive income for the year 2,535 3,461 |
Structured entities
Structured entities | 12 Months Ended |
Dec. 31, 2020 | |
Interests In Other Entities [Abstract] | |
Structured entities | 18 Interests in associates and joint ventures Carrying amount of HSBC’s interests in associates and joint ventures 2020 2019 $m $m Interests in associates 26,594 24,384 Interests in joint ventures 90 90 Interests in associates and joint ventures 26,684 24,474 Principal associates of HSBC 2020 2019 Carrying amount Fair value 1 Carrying amount Fair value 1 $m $m $m $m Bank of Communications Co., Limited 21,248 7,457 18,982 10,054 The Saudi British Bank 4,215 4,197 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). At 31 Dec 2020 Footnotes Country of incorporation Principal HSBC’s Bank of Communications Co., Limited People’s Republic of China Banking services 19.03 The Saudi British Bank 1 Saudi Arabia Banking services 31.00 1 In December 2020, HSBC purchased additional shares and increased its shareholding in The Saudi British Bank (‘SABB’) from 29.2% to 31.0%. SABB will continue to be accounted for as an associate of HSBC. A list of all associates and joint ventures is set out in Note 37. Bank of Communications Co., Limited The Group’s investment in Bank of Communications Co., Limited (‘BoCom’) is classified as an associate. Significant influence in BoCom was established with consideration of all relevant factors, including representation on BoCom’s Board of Directors and participation in a Resource and Experience Sharing (‘RES’) agreement. 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 31 Dec 2020 At 31 Dec 2019 VIU Carrying value Fair value VIU Carrying value Fair value $bn $bn $bn $bn $bn $bn BoCom 21.8 21.2 7.5 21.5 19.0 10.1 Compared with 31 December 2019, the extent to which the VIU exceeds the carrying value (‘headroom’) decreased by $1.9bn. The reduction in headroom was principally due to the impact on the VIU from 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, downward revisions to management's best estimates of BoCom's future earnings in the short to medium term, and the net impact of revisions to certain long-term assumptions. Both the VIU and the carrying value increased due to the impact of foreign exchange movements. In future periods, the VIU may increase or decrease depending on the effect of changes to model inputs. The main model inputs are described below and are based on factors observed at period-end. The factors that could result in a change in the VIU and an impairment include a short-term underperformance by BoCom, a change in regulatory capital requirements or an increase in uncertainty regarding the future performance of BoCom resulting in a downgrade of the forecast of future asset growth or profitability. An increase in the discount rate 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 into perpetuity using a long-term growth rate to derive a terminal value, which comprises the majority of the VIU. The second component is the capital maintenance charge (‘CMC’), which is management’s forecast of the earnings that need to be withheld in order for BoCom to meet regulatory capital requirements over the forecast period, meaning that CMC is deducted when arriving at management’s estimate of future earnings available to ordinary shareholders. The principal inputs to the CMC calculation include estimates of asset growth, the ratio of risk-weighted assets to total assets and the expected minimum regulatory capital requirements. An increase in the CMC as a result of a change to these principal inputs would reduce VIU. Additionally, management considers other factors, including qualitative factors, to ensure that the inputs to the VIU calculation remain appropriate. Key assumptions in value-in-use calculation We used a number of assumptions in our VIU calculation, in accordance with the requirements of IAS 36: • Long-term profit growth rate: 3% (2019: 3%) for periods after 2024, which does not exceed forecast GDP growth in mainland China and is consistent with forecasts by external analysts. • Long-term asset growth rate: 3% (2019: 3%) for periods after 2024, which is the rate that assets are expected to grow to achieve long-term profit growth of 3%. • Discount rate: 11.37% (2019: 11.24%). This is based on a capital asset pricing model (‘CAPM’) calculation for BoCom, using market data. Management also compares the rate derived from the CAPM with discount rates from external sources. The discount rate used is within the range of 10.3% to 15.0% (2019: 10.0% to 15.0%) indicated by external sources. The increased rate reflects the net impact of updates to certain components of CAPM due to elevated levels of risk arising from the impact of the Covid-19 outbreak and the disruption to global economic activity. • Expected credit losses (‘ECL’) as a percentage of customer advances: This ranges from 0.98% to 1.22% (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 2024, the ratio is 0.88% (2019: 0.76%), which is slightly higher than BoCom’s average ECL in recent years. This ratio was increased to reflect trends in BoCom’s actual results in recent years of increasing ECL and of changes to BoCom’s loan portfolio. • Risk-weighted assets as a percentage of total assets: This ranges from 61% to 62% (2019: 61%) in the short to medium term, reflecting increases that may arise from higher ECL in the short term, followed by reductions that may arise from a subsequent lowering of ECL and a continuation of the trend of strong retail loan growth. For periods after 2024, the ratio is 61% (2019: 61%). These rates are similar to BoCom’s actual results in recent years and are slightly below forecasts disclosed by external analysts. • Operating income growth rate: This ranges from 3.5% to 6.7% (2019: 4.9% to 9.4%) in the short to medium term, and is lower than BoCom’s actual results in recent years and the forecasts disclosed by external analysts, reflecting economic pressures from the Covid-19 outbreak, global trade tensions and industry developments in mainland China. • Cost-income ratio: This ranges from 36.3% to 36.8% (2019: 37.1% to 38.8%) in the short to medium term. These ratios are similar to BoCom's actual results in recent years and slightly higher than forecasts disclosed by external analysts. • Effective tax rate: This ranges from 7.8% to 16.5% (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 through the forecast period. For periods after 2024, the rate is 16.8% (2019: 22.5%), which is higher than the recent historical average. This rate was reduced on expectations of a lower effective tax rate in the long term, reflecting BoCom’s actual results in recent years and forecast financial asset composition, and forecasts disclosed by external analysts. • Capital requirements: This was based on a capital adequacy ratio of 11.5% (2019: 11.5%) and tier 1 capital adequacy ratio of 9.5% (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 22 basis points • Long-term asset growth rate • Increase by 20 basis points • Discount rate • Increase by 26 basis points • Expected credit losses as a percentage of customer advances • Increase by 3 basis points • Risk-weighted assets as a percentage of total assets • Increase by 136 basis points • Operating income growth rate • Decrease by 28 basis points • Cost-income ratio • Increase by 77 basis points • Long-term effective tax rate • Increase by 216 basis points • Capital requirements – capital adequacy ratio • Increase by 26 basis points • Capital requirements – tier 1 capital adequacy ratio • Increase by 90 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 in VIU VIU Decrease in VIU VIU bps $bn $bn bps $bn $bn At 31 Dec 2020 Long-term profit growth rate — — 21.8 (50) (1.3) 20.5 Long-term asset growth rate (50) 1.4 23.2 — — 21.8 Discount rate — 1.2 23.0 53 (1.2) 20.6 Expected credit losses as a percentage of customer advances 2020 to 2024: 96 2025 onwards: 76 2.3 24.1 2020 to 2024: 122 2025 onwards: 95 (2.1) 19.7 Risk-weighted assets as a percentage of total assets (40) 0.1 21.9 166 (0.8) 21.0 Operating income growth rate 2 0.2 22.0 (69) (1.5) 20.3 Cost-income ratio (149) 1.3 23.1 120 (1.2) 20.6 Long-term effective tax rate (316) 0.9 22.7 820 (2.2) 19.6 Capital requirements – capital adequacy ratio — — 21.8 297 (7.8) 14.0 Capital requirements – tier 1 capital adequacy ratio — — 21.8 263 (5.3) 16.5 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 2024 onwards: 70 1.0 22.5 2019 to 2023: 108 2024 onwards: 81 (1.2) 20.3 Risk-weighted assets as a percentage of total assets (96) 0.4 21.9 12 — 21.5 Operating income growth rate 14 — 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 $18.2bn to $24.2bn (2019: $18.5bn to $22.8bn). 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. Selected financial information of BoCom The statutory accounting reference date of BoCom is 31 December. For the year ended 31 December 2020, HSBC included the associate’s results on the basis of the financial statements for the 12 months ended 30 September 2020, taking into account changes in the subsequent period from 1 October 2020 to 31 December 2020 that would have materially affected the results. Selected balance sheet information of BoCom At 30 Sep 2020 2019 $m $m Cash and balances at central banks 121,987 112,239 Loans and advances to banks and other financial institutions 107,334 108,026 Loans and advances to customers 870,728 730,510 Other financial assets 508,328 435,740 Other assets 44,622 40,101 Total assets 1,652,999 1,426,616 Deposits by banks and other financial institutions 273,708 290,492 Customer accounts 1,012,732 868,627 Other financial liabilities 207,110 131,772 Other liabilities 31,105 23,074 Total liabilities 1,524,655 1,313,965 Total equity 128,344 112,651 Reconciliation of BoCom’s total shareholders’ equity to the carrying amount in HSBC’s consolidated financial statements At 30 Sep 2020 2019 $m $m HSBC’s share of total shareholders’ equity 20,743 18,509 Goodwill and other intangible assets 505 473 Carrying amount 21,248 18,982 Selected income statement information of BoCom For the 12 months ended 30 Sep 2020 2019 $m $m Net interest income 21,994 20,558 Net fee and commission income 6,398 6,411 Change in expected credit losses and other credit impairment charges (9,698) (7,479) Depreciation and amortisation (2,072) (1,934) Tax expense (858) (1,636) Profit for the year 10,261 11,175 Other comprehensive income (769) 315 Total comprehensive income 9,492 11,490 Dividends received from BoCom 633 613 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%. On 3 December 2020, HSBC purchased additional shares in SABB, which increased the Group’s shareholding to 31%. HSBC remains 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 At 31 December 2020, the fair value of the Group’s investment in SABB of $4.20bn was below the carrying amount of $4.22bn. As a result, the Group performed an impairment test on the carrying amount, which confirmed no impairment. The recoverable amount as determined by a VIU calculation is $4.74bn. 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: 2.85% for periods after 2024. This does not exceed forecast GDP growth in Saudi Arabia. • Long-term asset growth rate: 2.85% for periods after 2024. This is the rate that assets are expected to grow to achieve long-term profit growth of 2.85%. • Discount rate: 10.4%. 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 31 December 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. A reasonable change in a single key assumption may not result in impairment, although taken together a combination of reasonable changes in key assumptions could result in a recoverable amount that is lower than the carrying amount. Key assumption Reasonably possible change • Cash flow projections • Cash flow projections decrease by 15%. This could result in an impairment of $0.2bn. • Discount rate • Discount rate increases by 100 basis points. This does not result in impairment. 20 Structured entities HSBC is mainly involved with both consolidated and unconsolidated structured entities through the securitisation of financial assets, conduits and investment funds, established either by HSBC or a third party. Consolidated structured entities Total assets of HSBC’s consolidated structured entities, split by entity type Conduits Securitisations HSBC Other Total $bn $bn $bn $bn $bn At 31 Dec 2020 6.9 11.7 5.3 10.8 34.7 At 31 Dec 2019 8.6 9.6 6.8 6.7 31.7 Conduits HSBC has established and manages two types of conduits: securities investment conduits (‘SICs’) and multi-seller conduits. Securities investment conduits The SICs purchase highly rated ABSs to facilitate tailored investment opportunities. • At 31 December 2020, Solitaire, HSBC’s principal SIC, held $1.9bn of ABSs (2019: $2.1bn). It is currently funded entirely by commercial paper (‘CP’) issued to HSBC. At 31 December 2020, HSBC held $2.1bn of CP (2019: $3.2bn). Multi-seller conduit HSBC’s multi-seller conduit was established to provide access to flexible market-based sources of finance for its clients. Currently, HSBC bears risk equal to the transaction-specific facility offered to the multi-seller conduit, amounting to $9.6bn at 31 December 2020 (2019: $12.4bn). First loss protection is provided by the originator of the assets, and not by HSBC, through transaction-specific credit enhancements. A layer of secondary loss protection is provided by HSBC in the form of programme-wide enhancement facilities. Securitisations HSBC uses structured entities to securitise customer loans and advances it originates in order to diversify its sources of funding for asset origination and capital efficiency purposes. The loans and advances are transferred by HSBC to the structured entities for cash or synthetically through credit default swaps, and the structured entities issue debt securities to investors. HSBC managed funds HSBC has established a number of money market and non-money market funds. Where it is deemed to be acting as principal rather than agent in its role as investment manager, HSBC controls these funds. Other HSBC has entered into a number of transactions in the normal course of business, which include asset and structured finance transactions where it has control of the structured entity. In addition, HSBC is deemed to control a number of third-party managed funds through its involvement as a principal in the funds. Unconsolidated structured entities The term ‘unconsolidated structured entities’ refers to all structured entities not controlled by HSBC. The Group enters into transactions with unconsolidated structured entities in the normal course of business to facilitate customer transactions and for specific investment opportunities. Nature and risks associated with HSBC interests in unconsolidated structured entities Securitisations HSBC managed funds Non-HSBC managed funds Other Total Total asset values of the entities ($m) 0–500 86 292 1,430 47 1,855 500–2,000 9 94 733 2 838 2,000–5,000 — 32 389 — 421 5,000–25,000 — 14 311 — 325 25,000+ — 5 41 — 46 Number of entities at 31 Dec 2020 95 437 2,904 49 3,485 $bn $bn $bn $bn $bn Total assets in relation to HSBC’s interests in the unconsolidated structured entities 4.4 9.9 17.5 2.1 33.9 – trading assets — 0.3 3.2 — 3.5 – financial assets designated and otherwise mandatorily measured at fair value — 8.6 13.8 — 22.4 – loans and advances to customers 4.4 — — 1.5 5.9 – financial investments — 1 0.5 — 1.5 – other assets — — — 0.6 0.6 Total liabilities in relation to HSBC’s interests in the unconsolidated structured entities — — — 0.3 0.3 – other liabilities — — — 0.3 0.3 Other off-balance sheet commitments 0.1 0.5 4.9 1.2 6.7 HSBC’s maximum exposure at 31 Dec 2020 4.5 10.4 22.4 3.6 40.9 Total asset values of the entities ($m) 0–500 91 236 670 70 1,067 500–2,000 12 70 642 7 731 2,000–5,000 — 28 345 — 373 5,000–25,000 — 14 260 — 274 25,000+ — 3 39 2 44 Number of entities at 31 Dec 2019 103 351 1,956 79 2,489 $bn $bn $bn $bn $bn Total assets in relation to HSBC’s interests in the unconsolidated structured entities 5.3 9.1 15.1 4.2 33.7 – trading assets — 0.2 3.5 1.3 5 – financial assets designated and otherwise mandatorily measured at fair value — 8.4 10.7 — 19.1 – loans and advances to customers 5.3 — 0.4 2.3 8 – financial investments — 0.5 0.5 — 1 – other assets — — — 0.6 0.6 Total liabilities in relation to HSBC’s interests in the unconsolidated structured entities — — — 0.3 0.3 – other liabilities — — — 0.3 0.3 Other off-balance sheet commitments 0.3 0.3 3.9 0.7 5.2 HSBC’s maximum exposure at 31 Dec 2019 5.6 9.4 19.0 4.6 38.6 The maximum exposure to loss from HSBC’s interests in unconsolidated structured entities represents the maximum loss it could incur as a result of its involvement with these entities regardless of the probability of the loss being incurred. • For commitments, guarantees and written credit default swaps, the maximum exposure to loss is the notional amount of potential future losses. • For retained and purchased investments and loans to unconsolidated structured entities, the maximum exposure to loss is the carrying value of these interests at the balance sheet reporting date. The maximum exposure to loss is stated gross of the effects of hedging and collateral arrangements that HSBC has entered into in order to mitigate the Group's exposure to loss. Securitisations HSBC has interests in unconsolidated securitisation vehicles through holding notes issued by these entities. In addition, HSBC has investments in ABSs issued by third-party structured entities. HSBC managed funds HSBC establishes and manages money market funds and non-money market investment funds to provide customers with investment opportunities. Further information on funds under management is provided on page 106. HSBC, as fund manager, may be entitled to receive management and performance fees based on the assets under management. HSBC may also retain units in these funds. Non-HSBC managed funds HSBC purchases and holds units of third-party managed funds in order to facilitate business and meet customer needs. Other HSBC has established structured entities in the normal course of business, such as structured credit transactions for customers, to provide finance to public and private sector infrastructure projects, and for asset and structured finance transactions. In addition to the interests disclosed above, HSBC enters into derivative contracts, reverse repos and stock borrowing transactions with structured entities. These interests arise in the normal course of business for the facilitation of third-party transactions and risk management solutions. HSBC sponsored structured entities The amount of assets transferred to and income received from such sponsored structured entities during 2020 and 2019 were not significant. 37 HSBC Holdings’ subsidiaries, joint ventures and associates In accordance with section 409 of the Companies Act 2006 a list of HSBC Holdings plc subsidiaries, joint ventures and associates, the registered office addresses and the effective percentages of equity owned at 31 December 2020 are disclosed below. Unless otherwise stated, the share capital comprises ordinary or common shares that are held by Group subsidiaries. The ownership percentage is provided for each undertaking. The undertakings below are consolidated by HSBC unless otherwise indicated. Subsidiaries % of share class held by immediate parent company (or by the Group where this varies) Footnotes 452 TALF Plus ABS Opportunities SPV LLC 100.00 13 452 TALF SPV LLC 100.00 13 Almacenadora Banpacifico S.A. (In Liquidation) 99.99 14 Assetfinance December (F) Limited 100.00 15 Assetfinance December (H) Limited 100.00 16 Assetfinance December (M) Limited (In Liquidation) 100.00 17 Assetfinance December (P) Limited 100.00 16 Assetfinance December (R) Limited 100.00 16 Assetfinance June (A) Limited 100.00 16 Assetfinance June (D) Limited 100.00 15 Assetfinance Limited 100.00 16 Assetfinance March (B) Limited 100.00 18 Assetfinance March (D) Limited 100.00 15 Assetfinance March (F) Limited 100.00 16 Assetfinance September (F) Limited 100.00 16 Assetfinance September (G) Limited 100.00 15 B&Q Financial Services Limited 100.00 16 Banco HSBC S.A. 100.00 19 Banco Nominees (Guernsey) Limited 100.00 20 Banco Nominees 2 (Guernsey) Limited 100.00 20 Banco Nominees Limited 100.00 21 Beau Soleil Limited Partnership N/A 0, 22 Beijing Miyun HSBC Rural Bank Company Limited 100.00 10, 23 Billingsgate Nominees Limited (In Liquidation) 100.00 24 Canada Crescent Nominees (UK) Limited 100.00 16 Canada Square Nominees (UK) Limited 100.00 16 Capco/Cove, Inc. 100.00 25 Card-Flo #1, Inc. 100.00 13 Card-Flo #3, Inc. 100.00 13 CC&H Holdings LLC 100.00 26 CCF HOLDING (LIBAN) S.A.L. (In Liquidation) 74.99 27 Charterhouse Administrators ( D.T.) Limited 100.00 (99.99) 16 Charterhouse Management Services Limited 100.00 (99.99) 16 Charterhouse Pensions Limited 100.00 16 Chongqing Dazu HSBC Rural Bank Company Limited 100.00 10, 28 Chongqing Fengdu HSBC Rural Bank Company Limited 100.00 10, 29 Chongqing Rongchang HSBC Rural Bank Company Limited 100.00 10, 30 COIF Nominees Limited N/A 0, 16 Cordico Management AG (In Liquidation) 100.00 31 Corsair IV Financial Services Capital Partners-B, LP N/A 0, 185 Dalian Pulandian HSBC Rural Bank Company Limited 100.00 10, 32 Decision One Mortgage Company, LLC N/A 0, 33 Dem 9 100.00 (99.99) 4, 34 Dempar 1 100.00 (99.99) 4, 34 Desarrollo Turistico, S.A. de C.V. (In Liquidation) 100.00 (99.99) 14 Electronic Data Process México, S.A. de C.V. 100.00 14 Equator Holdings Limited (In Liquidation) 100.00 17 Eton Corporate Services Limited 100.00 20 Far East Leasing SA (In Dissolution) 100.00 35 Flandres Contentieux S.A. 100.00 (99.99) 34 Foncière Elysées 100.00 (99.99) 34 Fujian Yongan HSBC Rural Bank Company Limited 100.00 10, 36 Fulcher Enterprises Company Limited 100.00 (62.14) 37 Fundacion HSBC, A.C. 100.00 (99.99) 9, 14 Giller Ltd. 100.00 25 GPIF Co-Investment, LLC N/A 0, 13 Subsidiaries % of share class held by immediate parent company (or by the Group where this varies) Footnotes Griffin International Limited 100.00 16 Grundstuecksgesellschaft Trinkausstrasse Kommanditgesellschaft N/A 0, 38 Grupo Financiero HSBC, S. A. de C. V. 99.99 14 Guangdong Enping HSBC Rural Bank Company Limited 100.00 10, 39 Guangzhou HSBC Real Estate Company Ltd 100.00 40 Hang Seng (Nominee) Limited 100.00 (62.14) 37 Hang Seng Bank (China) Limited 100.00 (62.14) 41 Hang Seng Bank (Trustee) Limited 100.00 (62.14) 37 Hang Seng Bank Limited 62.14 37 Hang Seng Bullion Company Limited 100.00 (62.14) 37 Hang Seng Credit Limited 100.00 (62.14) 37 Hang Seng Data Services Limited 100.00 (62.14) 37 Hang Seng Finance Limited 100.00 (62.14) 37 Hang Seng Financial Information Limited 100.00 (62.14) 37 Hang Seng Indexes (Netherlands) B.V. 100.00 (62.14) 42 Hang Seng Indexes Company Limited 100.00 (62.14) 37 Hang Seng Insurance Company Limited 100.00 (62.14) 37 Hang Seng Investment Management Limited 100.00 (62.14) 37 Hang Seng Investment Services Limited 100.00 (62.14) 37 Hang Seng Life Limited 100.00 (62.14) 37 Hang Seng Real Estate Management Limited 100.00 (62.14) 37 Hang Seng Securities Limited 100.00 (62.14) 37 Hang Seng Security Management Limited 100.00 (62.14) 37 Haseba Investment Company Limited 100.00 (62.14) 37 HFC Bank Limited (In Liquidation) 100.00 17 High Time Investments Limited 100.00 (62.14) 37 Honey Green Enterprises Ltd. 100.00 43 Honey Grey Enterprises Limited 100.00 44 Honey Silver Enterprises Limited 100.00 44 Household International Europe Limited (In Liquidation) 100.00 17 Household Pooling Corporation 100.00 45 Housing (USA) LLP N/A HSBC (BGF) Investments Limited 100.00 16 HSBC (General Partner) Limited 100.00 2, 47 HSBC (Guernsey) GP PCC Limited 100.00 20 HSBC (Kuala Lumpur) Nominees Sdn Bhd 100.00 48 HSBC (Malaysia) Trustee Berhad 100.00 49 HSBC (Singapore) Nominees Pte Ltd 100.00 50 HSBC Agency (India) Private Limited 100.00 51 HSBC Alternative Credit Strategies General Partner S.a r.l. N/A 0, 52 HSBC Alternative Investments Limited 100.00 16 HSBC Amanah Malaysia Berhad 100.00 48 HSBC Americas Corporation (Delaware) 100.00 13 HSBC Argentina Holdings S.A. 100.00 53 HSBC Asia Holdings B.V. 100.00 16 HSBC Asia Holdings Limited 100.00 2, 44 HSBC Asia Pacific Holdings (UK) Limited 100.00 16 HSBC Asset Finance (UK) Limited 100.00 16 HSBC Asset Finance M.O.G. Holdings (UK) Limited 100.00 16 HSBC Asset Management (India) Private Limited 100.00 54 HSBC Assurances Vie (France) 100.00 (99.99) 55 HSBC Australia Holdings Pty Limited 100.00 56 HSBC BANK (CHILE) 100.00 57 HSBC Bank (China) Company Limited 100.00 10, 58 HSBC Bank (General Partner) Limited 100.00 47 HSBC Bank (Mauritius) Limited 100.00 59 HSBC Bank (RR) (Limited Liability Company) N/A 0, 11, 60 HSBC Bank (Singapore) Limited 100.00 50 HSBC Bank (Taiwan) Limited 100.00 61 HSBC Bank (Uruguay) S.A. 100.00 62 HSBC Bank (Vietnam) Ltd. 100.00 63 HSBC Bank A.S. 100.00 64 Subsidiaries % of share class held by immediate parent company (or by the Group where this varies) Footnotes HSBC Bank Argentina S.A. 100.00 53 HSBC Bank Armenia cjsc 100.00 65 HSBC Bank Australia Limited 100.00 56 HSBC Bank Bermuda Limited 100.00 21 HSBC Bank Canada 100.00 66 HSBC Bank Capital Funding (Sterling 1) LP N/A 0, 47 HSBC Bank Capital Funding (Sterling 2) LP N/A 0, 47 HSBC Bank Egypt S.A.E 99.63 (94.54) 67 HSBC Bank Malaysia Berhad 100.00 48 HSBC Bank Malta p.l.c. 70.03 68 HSBC Bank Middle East Limited 100.00 5, 69 HSBC Bank Middle East Limited Representative Office Morocco SARL (In Liquidation) 100.00 70 HSBC Bank Oman S.A.O.G. 51.00 71 HSBC Bank Pension Trust (UK) Limited 100.00 16 HSBC Bank plc 100.00 16 HSBC Bank USA, National Association 100.00 3, 72 HSBC Branch Nominee (UK) Limited 100.00 15 HSBC Brasil Holding S.A. 100.00 19 HSBC Broking Forex (Asia) Limited 100.00 44 HSBC Broking Futures (Asia) Limited 100.00 44 HSBC Broking Futures (Hong Kong) Limited 100.00 44 HSBC Broking Securities (Asia) Limited 100.00 44 HSBC Broking Securities (Hong Kong) Limited 100.00 44 HSBC Broking Services (Asia) Limited 100.00 44 HSBC Canadian Covered Bond (Legislative) Guarantor Limited Partnership N/A 0, 73 HSBC Capital (USA), Inc. 100.00 13 HSBC Capital Funding (Dollar 1) L.P. N/A 0, 47 HSBC Capital Limited 100.00 44 HSBC Card Services Inc. 100.00 13 HSBC Casa de Bolsa, S.A. de C.V., Grupo Financiero HSBC 100.00 (99.99) 14 HSBC Cayman Limited 100.00 74 HSBC Cayman Services Limited 100.00 74 HSBC City Funding Holdings 100.00 16 HSBC Client Holdings Nominee (UK) Limited 100.00 16 HSBC Client Nominee (Jersey) Limited 100.00 75 HSBC Columbia Funding, LLC N/A 0, 13 HSBC Continental Europe 99.99 34 HSBC Corporate Advisory (Malaysia) Sdn Bhd 100.00 48 HSBC Corporate Finance (Hong Kong) Limited 100.00 44 HSBC Corporate Trustee Company (UK) Limited 100.00 16 HSBC Custody Nominees (Australia) Limited 100.00 56 HSBC Custody Services (Guernsey) Limited 100.00 20 HSBC Daisy Investments (Mauritius) Limited 100.00 76 HSBC Diversified Loan Fund General Partner Sarl 100.00 77 HSBC Electronic Data Processing (Guangdong) Limited 100.00 10, 78 HSBC Electronic |
Goodwill and intangible assets
Goodwill and intangible assets | 12 Months Ended |
Dec. 31, 2020 | |
Intangible Assets [Abstract] | |
Goodwill and intangible assets | 21 Goodwill and intangible assets 2020 2019 Footnotes $m $m Goodwill 5,881 5,590 Present value of in-force long-term insurance business 9,435 8,945 Other intangible assets 1 5,127 5,628 At 31 Dec 20,443 20,163 1 Included within other intangible assets is internally generated software with a net carrying value of $4,452m (2019: $4,829m). During the year, capitalisation of internally generated software was $1,934m (2019: $2,086m), impairment was $1,322m (2019: $38m) and amortisation was $1,085m (2019: $947m). Movement analysis of goodwill 2020 2019 $m $m Gross amount At 1 Jan 22,084 22,180 Exchange differences 967 (154) Other 84 58 At 31 Dec 23,135 22,084 Accumulated impairment losses At 1 Jan (16,494) (9,194) Impairment losses (41) (7,349) Exchange differences (719) 49 At 31 Dec (17,254) (16,494) Net carrying amount at 31 Dec 5,881 5,590 Goodwill Impairment testing In previous years the Group’s annual impairment test in respect of goodwill allocated to each CGU was performed at 1 July. Beginning in 2020 the annual impairment test will be performed as at 1 October to better align the timing of the test with cash flow projections approved by the Board. A review for indicators of impairment is undertaken at each subsequent quarter-end. Basis of the recoverable amount The recoverable amount of all CGUs to which goodwill has been allocated was equal to its value in use (‘VIU’) at each respective testing date. The VIU is calculated by discounting management’s cash flow projections for the CGU. At 1 October 2020, all CGUs supporting goodwill had a VIU larger than their respective carrying amounts. The key assumptions used in the VIU calculation for each individually significant CGU that is not impaired are discussed below. Key assumptions in VIU calculation – significant CGUs at 1 October 2020 Goodwill at Discount rate Growth rate Goodwill at Discount Nominal Goodwill at 31 Dec 2019 Discount Nominal $m % % $m % % $m % % Cash-generating unit Europe – WPB 1 3,582 9.6 1.9 3,496 8.3 3.2 3,464 8.3 1.7 1 CGU tested as Europe – RBWM at 31 December 2019. Details regarding our change in global businesses are set out in Note 10. At 1 October 2020, aggregate goodwill of $2,059m (1 July 2019: $2,938m; 31 December 2019: $2,126m) had been allocated to CGUs that were not considered individually significant. The Group’s CGUs do not carry on their balance sheets any significant intangible assets with indefinite useful lives, other than goodwill. Management’s judgement in estimating the cash flows of a CGU The cash flow projections for each CGU are based on plans approved by the Board. The Board challenges and endorses planning assumptions in light of internal capital allocation decisions necessary to support our strategy, current market conditions and macroeconomic outlook. For the 1 October 2020 impairment test, cash flow projections until the end of the first quarter of 2025 were considered. As required by IFRSs, estimates of future cash flows exclude estimated cash inflows or outflows that are expected to arise from restructuring initiatives before an entity has a constructive obligation to carry out the plan, and would therefore have recognised a provision for restructuring costs. Discount rate The rate used to discount the cash flows is based on the cost of capital assigned to each CGU, which is derived using a capital asset pricing model (‘CAPM’). CAPM depends on a number of inputs reflecting financial and economic variables, including the risk-free rate and a premium to reflect the inherent risk of the business being evaluated. These variables are based on the market’s assessment of the economic variables and management’s judgement. The discount rates for each CGU are refined to reflect the rates of inflation for the countries within which the CGU operates. In addition, for the purposes of testing goodwill for impairment, management supplements this process by comparing the discount rates derived using the internally generated CAPM, with the cost of capital rates produced by external sources for businesses operating in similar markets. Long-term growth rate The long-term growth rate is used to extrapolate the cash flows in perpetuity because of the long-term perspective within the Group of business units making up the CGUs. These growth rates reflect inflation for the countries within which the CGU operates or from which it derives revenue. Sensitivities of key assumptions in calculating VIU At 31 December 2020, Europe – WPB was sensitive to reasonably possible adverse changes in key assumptions supporting the recoverable amount. In making an estimate of reasonably possible changes to assumptions, management considers the available evidence in respect of each input to the model, such as the external range of discount rates observable, historical performance against forecast and risks attaching to the key assumptions underlying cash flow projections. A reasonable change in one or more of these assumptions could result in an impairment. Input Key assumptions Associated risks Reasonably possible change Cash-generating unit Europe – WPB Cash flow projections • Level of interest rates and yield curves. • Competitors’ position within the market. • Level and change in unemployment rates. • Uncertain regulatory environment. • Customer remediation and regulatory actions. • Cash flow projections decrease by 30%. Discount rate • Discount rate used is a reasonable estimate of a suitable market rate for the profile of the business. • External evidence suggests that the rate used is not appropriate to the business. • Discount rate increases by 100bps. This does not result in an impairment. Sensitivity of VIU to reasonably possible changes in key assumptions and changes to current assumptions to achieve nil headroom Europe – WPB In $bn (unless otherwise stated) At 31 December 2020 Carrying amount 11.1 VIU 16.4 Impact on VIU 100 bps increase in the discount rate – single variable (2.3) 30% decrease in cash flow projections – single variable (6.0) Cumulative impact of all changes (7.6) Changes to key assumption to reduce headroom to nil – single variable Discount rate – bps 271 Cash flows – % (26.5) 30 June impairment indicators review At 30 June 2020, 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 impairment. As a result, an interim impairment test was performed by comparing the estimated recoverable amount of each 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. This CGU carried no further significant non-financial assets. Other intangible assets Impairment testing We considered the pervasive macroeconomic deterioration caused by the outbreak of Covid-19, along with the impact of forecast profitability in some businesses, to be indicators of intangible asset impairment during the period. The impairment tests were performed by comparing the net carrying amount of CGUs containing intangible assets with their recoverable amounts. Recoverable amounts were determined by calculating an estimated VIU or fair value, as appropriate, for each CGU. Our cash flow forecasts were updated for changes in the external outlook, although economic and geopolitical risks increase the inherent estimation uncertainty. We recognised $1.3bn of capitalised software impairment related principally to businesses within HSBC Bank plc, our non-ring-fenced bank in Europe, and to a lesser degree businesses within HSBC USA Inc. This impairment reflected underperformance and deterioration in the future forecasts of these businesses, substantially relating to prior periods in HSBC Bank plc. 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. • 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. Sensitivity of estimates relating to non-financial assets As explained in Note 1.2(a), estimates of future cash flows for cash-generating units (‘CGUs’) are made in the review of goodwill and non-financial assets for impairment. Non-financial assets include other intangible assets shown above, and owned property, plant and equipment and right-of-use assets (see Note 22). The most significant sources of estimation uncertainty are in respect of the goodwill balances disclosed above. There are no non-financial asset balances relating to individual CGUs which involve estimation uncertainty that represents a significant risk of resulting in a material adjustment to the results and financial position of the Group within the next financial year. Non-financial assets are widely distributed across CGUs within the legal entities of the Group, including Corporate Centre assets that cannot be allocated to CGUs and are therefore tested for impairment at consolidated level, and the recoverable amounts of other intangible assets, owned property, plant and equipment, and right-of-use assets cannot be lower than individual asset fair values less costs to dispose, where relevant. At HSBC Holdings plc consolidated level, Corporate Centre assets that cannot be allocated to CGUs within the legal entities of the Group were sensitive to reasonably possible adverse changes in cash flow projections and discount rates, which could result in a recoverable amount that is lower than the carrying amount. Corporate Centre non-financial assets include owned property, plant and equipment ($2.1bn), right-of-use assets ($0.6bn) and other intangible assets ($0.5bn). A 12% decrease in cash flow projections or a 110bps increase in the discount rate (from 10.5% to 11.6%) would reduce the current CGU headroom ($27.5bn) to nil. Present value of in-force long-term insurance business When calculating the present value of in-force long-term (‘PVIF’) insurance business, expected cash flows are projected after adjusting for a variety of assumptions made by each insurance operation to reflect local market conditions, and management’s judgement of future trends and uncertainty in the underlying assumptions is reflected by applying margins (as opposed to a cost of capital methodology) including valuing the cost of policyholder options and guarantees using stochastic techniques. Actuarial Control Committees of each key insurance entity meet on a quarterly basis to review and approve PVIF assumptions. All changes to non-economic assumptions, economic assumptions that are not observable and model methodologies must be approved by the Actuarial Control Committee. Movements in PVIF 2020 2019 Footnotes $m $m At 1 Jan 8,945 7,149 Change in PVIF of long-term insurance business 382 1,749 – value of new business written during the year 776 1,225 – expected return 1 (1,003) (836) – assumption changes and experience variances (see below) 604 1,378 – other adjustments 5 (18) Exchange differences and other movements 108 47 At 31 Dec 9,435 8,945 1 ‘Expected return’ represents the unwinding of the discount rate and reversal of expected cash flows for the period. Assumption changes and experience variances Included within this line item are: • $132m (2019: $1,126m), directly offsetting interest rate-driven changes to the valuation of liabilities under insurance contracts; • $247m (2019: $36m), reflecting the future expected sharing of returns with policyholders on contracts with discretionary participation features (‘DPF’), to the extent this sharing is not already included in liabilities under insurance contracts; and • $225m (2019: $216m), driven by other assumptions changes and experience variances. Key assumptions used in the computation of PVIF for main life insurance operations Economic assumptions are set in a way that is consistent with observable market values. The valuation of PVIF is sensitive to observed market movements and the impact of such changes is included in the sensitivities presented below. 2020 2019 Hong Kong France 1 Hong Kong France 1 % % % % Weighted average risk-free rate 0.71 0.34 1.84 0.44 Weighted average risk discount rate 4.96 1.34 5.44 1.27 Expense inflation 3.00 1.60 3.00 1.70 1 For 2020, the calculation of France’s PVIF assumes a risk discount rate of 1.34% (2019: 1.27%) plus a risk margin of $213m (2019: $130m). Sensitivity to changes in economic assumptions The Group sets the risk discount rate applied to the PVIF calculation by starting from a risk-free rate curve and adding explicit allowances for risks not reflected in the best-estimate cash flow modelling. Where the insurance operations provide options and guarantees to policyholders, the cost of these options and guarantees is accounted for as a deduction from the PVIF asset, unless the cost of such guarantees is already allowed for as an explicit addition to liabilities under insurance contracts. For further details of these guarantees and the impact of changes in economic assumptions on our insurance manufacturing subsidiaries, see page 235. Sensitivity to changes in non-economic assumptions Policyholder liabilities and PVIF are determined by reference to non-economic assumptions, including mortality and/or morbidity, lapse rates and expense rates. For further details on the impact of changes in non-economic assumptions on our insurance manufacturing operations, see page 236. |
Prepayments, accrued income and
Prepayments, accrued income and other assets | 12 Months Ended |
Dec. 31, 2020 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Prepayments, accrued income and other assets | 22 Prepayments, accrued income and other assets 2020 2019 $m $m Prepayments and accrued income 8,114 9,057 Settlement accounts 17,316 14,744 Cash collateral and margin receivables 59,543 49,148 Assets held for sale 299 123 Bullion 20,151 14,830 Endorsements and acceptances 10,278 10,198 Reinsurers’ share of liabilities under insurance contracts (Note 4) 3,448 3,592 Employee benefit assets (Note 5) 10,450 8,280 Right-of-use assets 4,002 4,222 Owned property, plant and equipment 10,412 10,480 Other accounts 12,399 12,006 At 31 Dec 156,412 136,680 |
Trading liabilities
Trading liabilities | 12 Months Ended |
Dec. 31, 2020 | |
Financial Instruments [Abstract] | |
Trading liabilities | 23 Trading liabilities 2020 2019 Footnotes $m $m Deposits by banks 1 6,689 4,187 Customer accounts 1 10,681 6,999 Other debt securities in issue (Note 25) 1,582 1,404 Other liabilities – net short positions in securities 56,314 70,580 At 31 Dec 75,266 83,170 1 ‘Deposits by banks’ and ‘Customer accounts’ include repos, stock lending and other amounts. |
Financial liabilties designated
Financial liabilties designated at fair value | 12 Months Ended |
Dec. 31, 2020 | |
Financial Instruments [Abstract] | |
Financial liabilities designated at fair value | 16 Financial investments Carrying amount of financial investments 2020 2019 $m $m Financial investments measured at fair value through other comprehensive income 402,054 357,577 – treasury and other eligible bills 118,163 95,043 – debt securities 281,467 260,536 – equity securities 2,337 1,913 – other instruments 87 85 Debt instruments measured at amortised cost 88,639 85,735 – treasury and other eligible bills 11,757 10,476 – debt securities 76,882 75,259 At 31 Dec 490,693 443,312 Equity instruments measured at fair value through other comprehensive income Fair value Dividends recognised Type of equity instruments $m $m Investments required by central institutions 904 22 Business facilitation 1,387 22 Others 46 3 At 31 Dec 2020 2,337 47 Investments required by central institutions 738 22 Business facilitation 1,124 19 Others 51 9 At 31 Dec 2019 1,913 50 Financial investments at amortised cost and fair value 2020 2019 Amortised cost Fair value 1 Amortised cost Fair value 1 Footnotes $m $m $m $m US Treasury 75,531 78,251 79,633 80,589 US Government agencies 2 19,851 20,320 26,356 26,387 US Government-sponsored entities 10,691 11,224 8,070 8,259 UK Government 28,094 28,754 28,621 28,973 Hong Kong Government 55,483 55,507 47,824 47,820 Other governments 178,091 180,881 140,510 142,511 Asset-backed securities 3 2,708 2,536 2,954 2,889 Corporate debt and other securities 110,015 118,960 101,750 107,364 Equities 1,410 2,337 1,241 1,913 At 31 Dec 481,874 498,770 436,959 446,705 1 Included within ‘fair value’ figures are debt securities issued by banks and other financial institutions of $62bn (2019: $61bn), of which $10bn (2019: $11bn) are guaranteed by various governments. 2 Includes securities that are supported by an explicit guarantee issued by the US Government. 3 Excludes asset-backed securities included under US Government agencies and sponsored entities. Maturities of investments in debt securities at their carrying amount Up to 1 year 1 to 5 years 5 to 10 years Over 10 years Total $m $m $m $m $m Debt securities measured at fair value through other comprehensive income 72,250 131,859 42,168 35,190 281,467 Debt securities measured at amortised cost 6,135 16,499 19,437 34,811 76,882 At 31 Dec 2020 78,385 148,358 61,605 70,001 358,349 Debt securities measured at fair value through other comprehensive income 61,833 123,740 42,831 32,132 260,536 Debt securities measured at amortised cost 5,472 14,395 21,431 33,961 75,259 At 31 Dec 2019 67,305 138,135 64,262 66,093 335,795 Contractual maturities and weighted average yields of investment debt securities Up to 1 year 1 to 5 years 5 to 10 years Over 10 years Amount Yield Amount Yield Amount Yield Amount Yield $m % $m % $m % $m % Debt securities measured at fair value through other comprehensive income US Treasury 6,596 1.2 22,945 1.6 15,618 1.5 4,195 2.3 US Government agencies — — 95 1.8 43 2.8 12,608 1.8 US Government-sponsored agencies 30 2.8 789 2.2 2,988 2.5 4,968 1.8 UK Government 2,765 1.5 5,126 0.8 6,220 0.2 4,910 2.3 Hong Kong Government 84 1.6 247 1.6 167 1.8 — — Other governments 51,507 1.7 62,587 2.3 8,184 1.6 2,089 4.3 Asset-backed securities 18 2.9 93 1.4 399 1.8 2,199 1.2 Corporate debt and other securities 10,831 2.1 35,615 1.4 7,169 1.8 2,583 3.4 Total amortised cost at 31 Dec 2020 71,831 127,497 40,788 33,552 Total carrying value 72,250 131,859 42,168 35,190 Debt securities measured at amortised cost US Treasury 3,769 0.1 4,618 1.6 3,003 2.0 969 2.8 US Government agencies — — 9 3.8 13 4.5 7,084 2.6 US Government-sponsored agencies 110 2.5 258 2.7 436 2.2 1,112 3.3 Hong Kong Government 13 3.0 23 1.6 118 2.6 12 4.8 Other governments 179 3.4 370 4.1 426 3.8 1,011 4.2 Asset-backed securities — — — — — — 2 6.0 Corporate debt and other securities 2,064 3.3 11,221 3.4 15,441 3.4 24,621 3.8 Total amortised cost at 31 Dec 2020 6,135 16,499 19,437 34,811 Total carrying value 6,135 16,497 19,439 34,812 The maturity distributions of ABSs are presented in the above table on the basis of contractual maturity dates. The weighted average yield for each range of maturities is calculated by dividing the annualised interest income for the year ended 31 December 2020 by the book amount of debt securities at that date. The yields do not include the effect of related derivatives. HSBC Holdings HSBC Holdings carrying amount of financial investments 2020 2019 $m $m Debt instruments measured at amortised cost – treasury and other eligible bills 10,941 10,081 – debt securities 6,544 6,025 At 31 Dec 17,485 16,106 Financial investments at amortised cost and fair value 2020 2019 Amortised cost Fair value Amortised cost Fair value $m $m $m $m US Treasury 17,485 17,521 16,106 16,121 US Government agencies — — — — US Government-sponsored entities — — — — At 31 Dec 17,485 17,521 16,106 16,121 Maturities of investments in debt securities at their carrying amount Up to 1 year 1 to 5 years 5 to 10 years Over 10 years Total $m $m $m $m $m Debt securities measured at amortised cost 3,767 2,777 — — 6,544 At 31 Dec 2020 3,767 2,777 — — 6,544 Debt securities measured at amortised cost 3,010 3,015 — — 6,025 At 31 Dec 2019 3,010 3,015 — — 6,025 Contractual maturities and weighted average yields of investment debt securities Up to 1 year 1 to 5 years 5 to 10 years Over 10 years Amount Yield Amount Yield Amount Yield Amount Yield $m % $m % $m % $m % Debt securities measured at amortised cost US Treasury 3,767 1.5 2,777 0.3 — — — — US Government agencies — — — — — — — — US Government-sponsored agencies — — — — — — — — Total amortised cost at 31 Dec 2020 3,767 2,777 — — Total carrying value 3,767 2,777 — — 24 Financial liabilities designated at fair value HSBC 2020 2019 Footnotes $m $m Deposits by banks and customer accounts 1, 2 19,176 17,660 Liabilities to customers under investment contracts 6,385 5,893 Debt securities in issue (Note 25) 121,034 130,364 Subordinated liabilities (Note 28) 10,844 10,130 Preferred securities (Note 28) — 419 At 31 Dec 157,439 164,466 1 Structured deposits placed at HSBC Bank USA are insured by the Federal Deposit Insurance Corporation, a US government agency, up to $250,000 per depositor. HSBC Holdings 2020 2019 $m $m Debt securities in issue (Note 25) 19,624 24,687 Subordinated liabilities (Note 28) 6,040 5,616 At 31 Dec 25,664 30,303 29 Maturity analysis of assets, liabilities and off-balance sheet commitments The table on page 383 provides an analysis of consolidated total assets, liabilities and off-balance sheet commitments by residual contractual maturity at the balance sheet date. These balances are included in the maturity analysis as follows: • Trading assets and liabilities (including trading derivatives but excluding reverse repos, repos and debt securities in issue) are included in the ‘Due not more than 1 month’ time bucket, because trading balances are typically held for short periods of time. • Financial assets and liabilities with no contractual maturity (such as equity securities) are included in the ‘Due over 5 years’ time bucket. Undated or perpetual instruments are classified based on the contractual notice period, which the counterparty of the instrument is entitled to give. Where there is no contractual notice period, undated or perpetual contracts are included in the ‘Due over 5 years’ time bucket. • Non-financial assets and liabilities with no contractual maturity are included in the ‘Due over 5 years’ time bucket. • Financial instruments included within assets and liabilities of disposal groups held for sale are classified on the basis of the contractual maturity of the underlying instruments and not on the basis of the disposal transaction. • Liabilities under insurance contracts are included in the ‘Due over 5 years’ time bucket. Liabilities under investment contracts are classified in accordance with their contractual maturity. Undated investment contracts are included in the ‘Due over 5 years’ time bucket, although such contracts are subject to surrender and transfer options by the policyholders. • Loan and other credit-related commitments are classified on the basis of the earliest date they can be drawn down. HSBC Maturity analysis of assets, liabilities and off-balance sheet commitments Due not Due over Due over Due over Due over Due over Due over Due over Total $m $m $m $m $m $m $m $m $m Financial assets Cash and balances at central banks 304,481 — — — — — — — 304,481 Items in the course of collection from other banks 4,094 — — — — — — — 4,094 Hong Kong Government certificates of indebtedness 40,420 — — — — — — — 40,420 Trading assets 228,434 1,778 458 135 67 644 474 — 231,990 Financial assets designated or otherwise mandatorily measured at fair value 3,061 240 466 262 454 1,424 1,992 37,654 45,553 Derivatives 306,561 15 12 14 14 441 424 245 307,726 Loans and advances to banks 51,652 11,283 5,640 3,068 2,284 4,059 3,359 271 81,616 Loans and advances to customers 172,306 70,746 65,838 44,392 38,606 112,440 206,448 327,211 1,037,987 – personal 51,711 9,645 7,918 7,270 7,033 26,318 70,447 275,736 456,078 – corporate and commercial 101,684 55,009 51,755 31,529 28,553 76,225 125,393 47,446 517,594 – financial 18,911 6,092 6,165 5,593 3,020 9,897 10,608 4,029 64,315 Reverse repurchase agreements – non-trading 157,234 44,658 16,655 5,113 1,324 3,058 2,586 — 230,628 Financial investments 47,270 77,450 44,255 14,523 24,112 48,741 100,007 134,335 490,693 Accrued income and other financial assets 93,118 5,951 2,743 475 458 267 444 2,107 105,563 Financial assets at 31 Dec 2020 1,408,631 212,121 136,067 67,982 67,319 171,074 315,734 501,823 2,880,751 Non-financial assets — — — — — — — 103,413 103,413 Total assets at 31 Dec 2020 1,408,631 212,121 136,067 67,982 67,319 171,074 315,734 605,236 2,984,164 Off-balance sheet commitments received Loan and other credit-related commitments 60,849 — — — — — — — 60,849 Financial liabilities Hong Kong currency notes in circulation 40,420 — — — — — — — 40,420 Deposits by banks 60,973 1,396 714 695 197 718 16,757 630 82,080 Customer accounts 1 1,533,595 61,376 22,568 9,375 8,418 4,467 2,859 122 1,642,780 – personal 766,631 32,429 15,511 6,276 5,825 3,591 1,976 39 832,278 – corporate and commercial 588,887 22,856 5,963 2,966 2,058 627 777 37 624,171 – financial 178,077 6,091 1,094 133 535 249 106 46 186,331 Repurchase agreements – non-trading 102,633 3,979 2,165 386 675 16 1,035 1,012 111,901 Items in the course of transmission to other banks 4,343 — — — — — — — 4,343 Trading liabilities 70,799 3,377 400 143 185 289 72 1 75,266 Financial liabilities designated at 18,434 7,333 6,973 6,775 6,593 14,182 40,510 56,639 157,439 – debt securities in issue: covered bonds — — — — — 1,239 2,918 — 4,157 – debt securities in issue: unsecured 10,762 4,470 5,522 5,604 5,530 10,455 31,710 42,825 116,878 – subordinated liabilities and preferred securities — — — — — — 3,912 6,932 10,844 – other 2 7,672 2,863 1,451 1,171 1,063 2,488 1,970 6,882 25,560 Derivatives 300,902 264 198 38 55 237 726 581 303,001 Debt securities in issue 6,552 12,329 14,964 9,764 3,878 9,215 16,618 22,172 95,492 – covered bonds — — 28 — 750 1,275 999 — 3,052 – otherwise secured 1,094 1,585 1,001 1,000 — 274 1,640 1,590 8,184 – unsecured 5,458 10,744 13,935 8,764 3,128 7,666 13,979 20,582 84,256 Accruals and other financial liabilities 96,821 9,794 3,886 692 1,174 1,742 3,179 3,053 120,341 Subordinated liabilities 619 — 237 — 12 12 2,658 18,413 21,951 Total financial liabilities at 31 Dec 2020 2,236,091 99,848 52,105 27,868 21,187 30,878 84,414 102,623 2,655,014 Non-financial liabilities — — — — — — — 124,155 124,155 Total liabilities at 31 Dec 2020 2,236,091 99,848 52,105 27,868 21,187 30,878 84,414 226,778 2,779,169 Off-balance sheet commitments given Loan and other credit-related commitments 842,974 435 172 243 296 180 299 171 844,770 – personal 235,606 172 27 47 115 125 288 171 236,551 – corporate and commercial 471,410 250 138 194 178 37 11 — 472,218 – financial 135,958 13 7 2 3 18 — — 136,001 Maturity analysis of assets, liabilities and off-balance sheet commitments (continued) Due not Due over Due over Due over Due over Due over Due over Due over Total $m $m $m $m $m $m $m $m $m Financial assets Cash and balances at central banks 154,099 — — — — — — — 154,099 Items in the course of collection from other banks 4,956 — — — — — — — 4,956 Hong Kong Government certificates of indebtedness 38,380 — — — — — — — 38,380 Trading assets 252,009 644 412 62 452 152 540 — 254,271 Financial assets designated at fair value 4,846 74 381 200 422 780 2,356 34,568 43,627 Derivatives 241,941 150 24 27 22 112 294 425 242,995 Loans and advances to banks 41,554 7,826 4,877 2,592 2,859 6,848 2,005 642 69,203 Loans and advances to customers 190,675 82,379 61,254 36,005 36,755 106,203 227,811 295,661 1,036,743 – personal 51,893 14,547 8,562 7,245 6,931 22,923 66,761 252,275 431,137 – corporate and commercial 118,585 61,629 45,924 25,006 25,069 71,751 147,139 39,958 535,061 – financial 20,197 6,203 6,768 3,754 4,755 11,529 13,911 3,428 70,545 Reverse repurchase agreements 164,741 38,997 17,933 8,226 6,305 2,298 2,362 — 240,862 Financial investments 36,128 64,472 35,795 17,485 18,202 48,427 90,193 132,610 443,312 Accrued income and other financial assets 80,661 5,544 2,532 915 495 432 363 2,037 92,979 Financial assets at 31 Dec 2019 1,209,990 200,086 123,208 65,512 65,512 165,252 325,924 465,943 2,621,427 Non-financial assets — — — — — — — 93,725 93,725 Total assets at 31 Dec 2019 1,209,990 200,086 123,208 65,512 65,512 165,252 325,924 559,668 2,715,152 Off-balance sheet commitments received Loan and other credit-related commitments 63,199 — — — — — — — 63,199 Financial liabilities Hong Kong currency notes in circulation 38,380 — — — — — — — 38,380 Deposits by banks 46,397 4,167 2,773 454 844 2,455 876 1,056 59,022 Customer accounts 1 1,287,358 81,038 38,343 11,530 11,342 5,275 4,075 154 1,439,115 – personal 646,843 49,405 29,320 8,484 6,852 3,631 2,646 71 747,252 – corporate and commercial 479,763 24,214 7,162 2,621 3,009 1,119 1,388 41 519,317 – financial 160,752 7,419 1,861 425 1,481 525 41 42 172,546 Repurchase agreements – non-trading 132,042 3,402 1,579 1,882 59 354 2 1,024 140,344 Items in the course of transmission to other banks 4,817 — — — — — — — 4,817 Trading liabilities 82,130 209 265 148 102 287 29 — 83,170 Financial liabilities designated at fair value 12,844 4,667 4,236 4,552 5,196 26,081 43,534 63,356 164,466 – debt securities in issue: covered bonds — — — — 1,139 — 2,663 1,159 4,961 – debt securities in issue: unsecured 8,884 2,046 2,946 3,757 3,030 22,950 34,753 47,036 125,402 – subordinated liabilities and preferred securities 23 — — — — — 2,131 8,396 10,550 – other 3,937 2,621 1,290 795 1,027 3,131 3,987 6,765 23,553 Derivatives 237,901 105 73 10 18 68 540 782 239,497 Debt securities in issue 8,183 17,374 12,799 13,152 11,382 14,572 20,048 7,045 104,555 – covered bonds — — — — — 749 998 — 1,747 – otherwise secured 2,015 2 248 161 — 219 958 1,663 5,266 – unsecured 6,168 17,372 12,551 12,991 11,382 13,604 18,092 5,382 97,542 Accruals and other financial liabilities 87,796 9,078 3,914 1,244 2,058 1,592 2,823 2,890 111,395 Subordinated liabilities 1,502 — 22 1,993 100 755 424 19,804 24,600 Total financial liabilities at 31 Dec 2019 1,939,350 120,040 64,004 34,965 31,101 51,439 72,351 96,111 2,409,361 Non-financial liabilities — — — — — — — 113,123 113,123 Total liabilities at 31 Dec 2019 1,939,350 120,040 64,004 34,965 31,101 51,439 72,351 209,234 2,522,484 Off-balance sheet commitments given Loan and other credit-related commitments 794,336 600 590 313 551 442 458 318 797,608 – personal 221,952 40 39 56 167 208 392 299 223,153 – corporate and commercial 460,569 117 96 52 381 218 66 19 461,518 – financial 111,815 443 455 205 3 16 — — 112,937 1 ‘Customer accounts’ includes $463,524m (2019: $408,090m) insured by guarantee schemes. HSBC Holdings Maturity analysis of assets, liabilities and off-balance sheet commitments (continued) Due not Due over Due over Due over Due over Due over Due over Due over Total $m $m $m $m $m $m $m $m $m Financial assets Cash at bank and in hand: – balances with HSBC undertakings 2,913 — — — — — — — 2,913 Derivatives 1,473 — 5 — — 9 1,131 2,080 4,698 Loans and advances to HSBC undertakings — 600 120 — — 312 6,027 3,384 10,443 Financial assets with HSBC undertakings designated and otherwise mandatorily measured at fair value — 451 — — — 4,320 23,203 37,279 65,253 Financial investments 3,701 3,769 2,924 799 3,528 2,764 — — 17,485 Accrued income and other financial assets 1,015 275 100 33 22 — — — 1,445 Total financial assets at 31 Dec 2020 9,102 5,095 3,149 832 3,550 7,405 30,361 42,743 102,237 Non-financial assets — — — — — — — 160,936 160,936 Total assets at 31 Dec 2020 9,102 5,095 3,149 832 3,550 7,405 30,361 203,679 263,173 Financial liabilities Amounts owed to HSBC undertakings — 330 — — — — — — 330 Financial liabilities designated at fair value — 984 859 — — 3,088 3,810 16,923 25,664 – debt securities in issue — 984 859 — — 3,088 2,108 12,585 19,624 – subordinated liabilities and preferred securities — — — — — — 1,702 4,338 6,040 Derivatives 3,052 — — — — — — 8 3,060 Debt securities in issue — 503 1,621 563 — 2,186 24,489 34,667 64,029 Accruals and other financial liabilities 3,769 689 301 57 12 — 1 36 4,865 Subordinated liabilities — — — — — — 4,067 13,849 17,916 31 Dec 2020 6,821 2,506 2,781 620 12 5,274 32,367 65,483 115,864 Non-financial liabilities — — — — — — — 509 509 Total liabilities at 31 Dec 2020 6,821 2,506 2,781 620 12 5,274 32,367 65,992 116,373 Off-balance sheet commitments given Undrawn formal standby facilities, credit lines and other commitments to lend — — — — — — — — — Financial assets Cash at bank and in hand: – balances with HSBC undertakings 2,382 — — — — — — — 2,382 Derivatives 596 — — — — — 230 1,176 2,002 Loans and advances to HSBC undertakings 102 672 120 25 — 600 1,909 6,790 10,218 Loans and advances to HSBC undertakings designated at fair value — — — — — 458 24,845 36,661 61,964 Financial investments in HSBC undertakings 2,754 3,493 1,873 2,251 2,721 3,014 — — 16,106 Accrued income and other financial assets 93 277 97 48 16 12 — — 543 Total financial assets at 31 Dec 2019 5,927 4,442 2,090 2,324 2,737 4,084 26,984 44,627 93,215 Non-financial assets — — — — — — — 162,025 162,025 Total assets at 31 Dec 2019 5,927 4,442 2,090 2,324 2,737 4,084 26,984 206,652 255,240 Financial liabilities Amounts owed to HSBC undertakings — 464 — — — — — — 464 Financial liabilities designated at fair value — — — — — 5,651 6,710 17,942 30,303 – debt securities in issue — — — — — 5,651 6,710 12,326 24,687 – subordinated liabilities and preferred securities — — — — — — — 5,616 5,616 Derivatives 1,838 — — — — 20 85 78 2,021 Debt securities in issue — — — — — 10,134 23,786 22,924 56,844 Accruals and other financial liabilities 900 574 303 55 10 — — 35 1,877 Subordinated liabilities 1,503 — — — — — 2,076 14,782 18,361 Total financial liabilities at 31 Dec 2019 4,241 1,038 303 55 10 15,805 32,657 55,761 109,870 Non-financial liabilities — — — — — — — 326 326 Total liabilities at 31 Dec 2019 4,241 1,038 303 55 10 15,805 32,657 56,087 110,196 Off-balance sheet commitments given Undrawn formal standby facilities, credit lines and other commitments to lend — — — — — — — — — Contractual maturity of financial liabilities The following table shows, on an undiscounted basis, all cash flows relating to principal and future coupon payments (except for trading liabilities and derivatives not treated as hedging derivatives). For this reason, balances in the following table do not agree directly with those in our consolidated balance sheet. Undiscounted cash flows payable in relation to hedging derivative liabilities are classified according to their contractual maturities. Trading liabilities and derivatives not treated as hedging derivatives are included in the ‘Due not more than 1 month’ time bucket and not by contractual maturity. Cash flows payable by HSBC under financial liabilities by remaining contractual maturities Due not more Due over Due over Due over Due over 5 years Total $m $m $m $m $m $m Deposits by banks 61,001 1,442 1,639 17,352 632 82,066 Customer accounts 1,530,584 64,809 40,755 7,720 153 1,644,021 Repurchase agreements – non-trading 102,664 3,984 3,257 1,058 1,017 111,980 Trading liabilities 75,266 — — — — 75,266 Financial liabilities designated at fair value 1 18,815 7,556 19,243 59,835 55,475 160,924 Derivatives 300,158 356 579 1,830 2,128 305,051 Debt securities in issue 6,551 12,709 29,520 28,787 24,075 101,642 Subordinated liabilities 739 170 1,102 7,024 28,812 37,847 Other financial liabilities 140,094 9,120 5,113 5,030 2,887 162,244 2,235,872 100,146 101,208 128,636 115,179 2,681,041 Loan and other credit-related commitments 842,945 434 740 480 171 844,770 Financial guarantees 2 18,200 13 93 37 41 18,384 At 31 Dec 2020 3,097,017 100,593 102,041 129,153 115,391 3,544,195 Proportion of cash flows payable in period 87% 3% 3% 4% 3% Deposits by banks 46,471 4,167 4,227 3,371 1,084 59,320 Customer accounts 1,288,577 81,037 62,105 9,900 191 1,441,810 Repurchase agreements – non-trading 132,156 3,403 3,565 368 1,036 140,528 Trading liabilities 83,170 — — — — 83,170 Financial liabilities designated at fair value 13,447 4,666 14,747 76,155 68,045 177,060 Derivatives 237,897 105 522 1,076 1,691 241,291 Debt securities in issue 8,757 17,374 38,423 36,584 8,177 109,315 Subordinated liabilities 1,847 — 2,908 5,197 27,892 37,844 Other financial liabilities 127,898 9,079 6,792 5,637 2,992 152,398 1,940,220 119,831 133,289 138,288 111,108 2,442,736 Loan and other credit-related commitments 795,243 601 561 886 317 797,608 Financial guarantees 2 20,007 37 102 68 — 20,214 At 31 Dec 2019 2,755,470 120,469 133,952 139,242 111,425 3,260,558 Proportion of cash flows payable in period 85% 4% 4% 4% 3% 1 In 2020, cash prime brokerage balances of $3,889m have been presented as a single balance, resulting in a reclassification from customer accounts at amortised cost to provide more relevant information on the effect of these transactions on the Group’s financial position. Comparatives have not been re-presented. HSBC Holdings HSBC Holdings’ primary sources of liquidity are dividends received from subsidiaries, interest on and repayment of intra-Group loans and securities, and interest earned on its own liquid funds. HSBC Holdings also raises funds in the debt capital markets to meet the Group’s minimum requirement for own funds and eligible liabilities. HSBC Holdings uses this liquidity to meet its obligations, including interest and principal repayments on external debt liabilities, operating expenses and collateral on derivative transactions. HSBC Holdings is also subject to contingent liquidity risk by virtue of credit-related commitments and guarantees and similar contracts issued relating to its subsidiaries. Such commitments and guarantees are only issued after due consideration of HSBC Holdings’ ability to finance the commitments and guarantees and the likelihood of the need arising. HSBC Holdings actively manages the cash flows from its subsidiaries to optimise the amount of cash held at the holding company level. During 2020, consistent with the Group’s capital plan, the Group’s subsidiaries did not experience any significant restrictions on paying dividends or repaying loans and advances. Also, there are no foreseen restrictions envisaged with regard to planned dividends or payments. However, the ability of subsidiaries to pay dividends or advance monies to HSBC Holdings depends on, among other things, their respective local regulatory capital and banking requirements, exchange controls, statutory reserves, and financial and operating performance. HSBC Holdings currently has sufficient liquidity to meet its present requirements. Liquidity risk in HSBC Holdings is overseen by Holdings ALCO. This risk arises because of HSBC Holdings’ obligation to make payments to debt holders as they fall due and to pay its operating expenses. The liquidity risk related to these cash flows is managed by matching external debt obligations with internal loan cash flows and by maintaining an appropriate liquidity buffer that is monitored by Holdings ALCO. The balances in the following table are not directly comparable with those on the balance sheet of HSBC Holdings as the table incorporates, on an undiscounted basis, all cash flows relating to principal and future coupon payments (except for derivatives not treated as hedging derivatives). Undiscounted cash flows payable in relation to hedging derivative liabilities are classified according to their contractual maturities. Derivatives not treated as hedging derivatives are included in the ‘On demand’ time bucket. In addition, loan commitments and financial guarantees and similar contracts are generally not recognised on our balance sheet. The undiscounted cash flows potentially payable under financial guarantees and similar contracts are classified on the basis of the earliest date on which they can be called. Cash flows payable by HSBC Holdings under financial liabilities by remaining contractual maturities Due not more Due over 1 Due over 3 Due over 1 Due over Total Footnotes $m $m $m $m $m $m Amounts owed to HSBC undertakings — 330 — — — 330 Financial liabilities designated at fair value 70 1,109 1,412 9,110 16,104 27,805 Derivatives 3,085 — 2 — — 3,087 Debt securities in issue 135 760 3,354 31,567 37,103 72,919 Subordinated liabilities 82 156 726 7,513 21,552 30,029 Other financial liabilities 3,769 690 370 — 36 4,865 7,141 3,045 5,864 48,190 74,795 139,035 Loan commitments — — — — — — Financial guarantees 1 13,787 — — — — 13,787 At 31 Dec 2020 20,928 3,045 5,864 48,190 74,795 152,822 Amounts owed to HSBC undertakings — 464 — — — 464 Financial liabilities designated at fair value 88 168 784 14,776 18,184 34,000 Derivatives 1,838 — — 105 78 2,021 Debt securities in issue 128 244 1,137 38,690 25,310 65,509 Subordinated liabilities 1,588 154 718 5,743 21,533 29,736 Other financial liabilities 956 519 365 — — 1,840 4,598 1,549 3,004 59,314 65,105 133,570 Loan commitments — — — — — — Financial guarantees 1 11,061 — — — — 11,061 At 31 Dec 2019 15,659 1,549 3,004 59,314 65,105 144,631 1 Excludes performance guarantee contracts to which the impairment requirements in IFRS 9 are not applied. 30 Offsetting of financial assets and financial liabilities In the following table, the ‘Amounts not set off in the balance sheet’ include transactions where: • the counterparty has an offsetting exposure with HSBC and a master netting or similar arrangement is in place with a right to set off only in the event of default, insolvency or bankruptcy, or the offset criteria are otherwise not satisfied; and • in the case of derivatives and reverse repurchase/repurchase, stock borrowing/lending and similar agreements, cash and non-cash collateral has been received/pledged. For risk management purposes, the net amounts of loans and advances to customers are subject to limits, which are monitored and the relevant customer agreements are subject to review and updated, as necessary, to ensure the legal right to set off remains appropriate. Offsetting of financial assets and financial liabilities Amounts subject to enforceable netting arrangements Amounts not subject to enforceable netting arrangements 5 Total Amounts not set off in the Gross Amounts Net Financial Non-cash Cash Net Footnotes $m $m $m $m $m $m $m $m $m Financial assets Derivatives (Note 15) 1 368,057 (69,103) 298,954 (230,758) (13,766) (48,154) 6,276 8,772 307,726 Reverse repos, stock borrowing and similar agreements classified as: 2 – trading assets 21,204 (461) 20,743 (709) (20,030) — 4 1,534 22,277 – non-trading assets 318,424 (115,678) 202,746 (13,936) (188,646) (73) 91 28,258 231,004 Loans and advances to customers 3 30,983 (10,882) 20,101 (17,031) — — 3,070 428 20,529 At 31 Dec 2020 738,668 (196,124) 542,544 (262,434) (222,442) (48,227) 9,441 38,992 581,536 Derivatives (Note 15) 1 277,261 (41,739) 235,522 (171,371) (13,095) (47,404) 3,652 7,473 242,995 Reverse repos, stock borrowing and similar agreements classified as: 2 – trading assets 21,465 (280) 21,185 (1,553) (19,630) — 2 165 21,350 – non-trading assets 348,561 (134,772) 213,789 (28,826) (184,495) (189) 279 27,549 241,338 Loans and advances to customers 3 33,039 (10,128) 22,911 (18,893) — — 4,018 735 23,646 At 31 Dec 2019 680,326 (186,919) 493,407 (220,643) (217,220) (47,593) 7,951 35,922 529,329 Financial liabilities Derivatives (Note 15) 1 364,121 (69,103) 295,018 (230,758) (21,387) (37,343) 5,530 7,983 303,001 Repos, stock lending and similar agreements classified as: 2 – trading liabilities 16,626 (461) 16,165 (709) (15,456) — — 159 16,324 – non-trading liabilities 200,999 (115,678) 85,321 (13,936) (71,142) (215) 28 26,580 111,901 Customer accounts 4 41,177 (10,882) 30,295 (17,031) — — 13,264 13 30,308 At 31 Dec 2020 622,923 (196,124) 426,799 (262,434) (107,985) (37,558) 18,822 34,735 461,534 Derivatives (Note 15) 1 275,286 (41,739) 233,547 (171,371) (20,137) (37,844) 4,195 5,950 239,497 Repos, stock lending and similar agreements classified as: 2 – trading liabilities 10,494 (280) 10,214 (1,553) (8,656) — 5 46 10,260 – non-trading liabilities 232,675 (134,772) 97,903 (28,826) (68,638) (357) 82 42,441 140,344 Customer accounts 4 36,750 (10,128) 26,622 (18,893) — — 7,729 31 26,653 At 31 Dec 2019 555,205 (186,919) 368,286 (220,643) (97,431) (38,201) 12,011 48,468 416,754 1 At 31 December 2020, the amount of cash margin received that had been offset against the gross derivatives assets was $7,899m (2019: $2,350m). The amount of cash margin paid that had been offset against the gross derivatives liabilities was $17,955m (2019: $8,303m). 2 For the amount of repos, reverse repos, stock lending, stock borrowing and similar agreements recognised on the balance sheet within ‘Trading assets’ $22,277m (2019: $21,350m) and ‘Trading liabilities’ $16,324m (2019: $10,260m), see the ‘Funding sources and uses’ table on page 220. 3 At 31 December 2020, the total amount of ‘Loans and advances to customers’ was $1,037,987m (2019: $1,036,743m), of which $20,101m (2019: $22,911m) was subject to offsetting. 4 At 31 December 2020, the total amount of ‘Customer accounts’ was $1,642,780m (2019: $1,439,115m), of which $30,295m (2019: $26,622m) was subject to offsetting. 5 These exposures continue to be secured by financial collateral, but we may not have sought or been able to obtain a legal opinion evidencing enforceability of the right of offset. |
Debt securities in issue
Debt securities in issue | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Of Debt Securities In Issue [Abstract] | |
Debt securities in issue | 25 Debt securities in issue HSBC 2020 2019 $m $m Bonds and medium-term notes 176,570 180,969 Other debt securities in issue 41,538 55,354 Total debt securities in issue 218,108 236,323 Included within: – trading liabilities (Note 23) (1,582) (1,404) – financial liabilities designated at fair value (Note 24) (121,034) (130,364) At 31 Dec 95,492 104,555 HSBC Holdings 2020 2019 $m $m Debt securities 83,653 81,531 Included within: – financial liabilities designated at fair value (Note 24) (19,624) (24,687) At 31 Dec 64,029 56,844 |
Accruals, deferred income and o
Accruals, deferred income and other liabilities | 12 Months Ended |
Dec. 31, 2020 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Accruals, deferred income and other liabilities | 26 Accruals, deferred income and other liabilities 2020 2019 $m $m Accruals and deferred income 10,406 11,808 Settlement accounts 13,008 14,356 Cash collateral and margin payables 65,557 56,646 Endorsements and acceptances 10,293 10,127 Employee benefit liabilities (Note 5) 2,025 1,771 Lease liabilities 4,614 4,604 Other liabilities 22,721 18,844 At 31 Dec 128,624 118,156 |
Provisions
Provisions | 12 Months Ended |
Dec. 31, 2020 | |
Other Provisions, Contingent Liabilities And Contingent Assets [Abstract] | |
Provisions | 27 Provisions Restructuring Legal proceedings Customer Other Total $m $m $m $m $m Provisions (excluding contractual commitments) At 1 Jan 2020 356 605 1,646 280 2,887 Additions 698 347 189 222 1,456 Amounts utilised (322) (177) (739) (125) (1,363) Unused amounts reversed (74) (75) (240) (80) (469) Exchange and other movements 13 56 2 8 79 At 31 Dec 2020 671 756 858 305 2,590 Contractual commitments 1 At 1 Jan 2020 511 Net change in expected credit loss provision and other movements 577 At 31 Dec 2020 1,088 Total provisions At 31 Dec 2019 3,398 At 31 Dec 2020 3,678 Provisions (excluding contractual commitments) At 1 Jan 2019 130 1,128 788 357 2,403 Additions 402 282 1,674 223 2,581 Amounts utilised (203) (660) (837) (81) (1,781) Unused amounts reversed (34) (158) (49) (108) (349) Exchange and other movements 61 13 70 (111) 33 At 31 Dec 2019 356 605 1,646 280 2,887 Contractual commitments 1 At 1 Jan 2019 517 Net change in expected credit loss provision and other movements (6) At 31 Dec 2019 511 Total provisions At 31 Dec 2018 2,920 At 31 Dec 2019 3,398 1 Contractual commitments include the provision for contingent liabilities measured under IFRS 9 ‘Financial Instruments’ in respect of financial guarantees and the expected credit loss provision on off-balance sheet guarantees and commitments. Further details of ‘Legal proceedings and regulatory matters’ are set out in Note 34. Legal proceedings include civil court, arbitration or tribunal proceedings brought against HSBC companies (whether by way of claim or counterclaim) or civil disputes that may, if not settled, result in court, arbitration or tribunal proceedings. Regulatory matters refer to investigations, reviews and other actions carried out by, or in response to the actions of, regulators or law enforcement agencies in connection with alleged wrongdoing by HSBC. Customer remediation refers to HSBC’s activities to compensate customers for losses or damages associated with a failure to comply with regulations or to treat customers fairly. Customer remediation is often initiated by HSBC in response to customer complaints and/or industry developments in sales practices and is not necessarily initiated by regulatory action. Further details of customer remediation are set out in this note. At 31 December 2020, $0.3bn (2019: $1.1bn) of the customer remediation provision related to the estimated liability for redress in respect of the possible mis-selling of payment protection insurance (‘PPI’) policies in previous years. Of the $1.1bn balance at 31 December 2019, $0.6bn has been utilised during 2020 and an unused release of $0.1bn was recognised. At 31 December 2020, a provision of $0.3bn (2019: $0.3bn) was held relating to the estimated liability for redress payable to customers following a review of historical collections and recoveries practices in the UK. For further details of the impact of IFRS 9 on undrawn loan commitments and financial guarantees, presented in ‘Contractual commitments’, see Note 32. This provision results from the adoption of IFRS 9 and has no comparatives. Further analysis of the movement in the expected credit loss provision is disclosed within the 'Reconciliation of allowances for loans and advances to banks and customers including loan commitments and financial guarantees' table on page 178. |
Subordinated liabilities
Subordinated liabilities | 12 Months Ended |
Dec. 31, 2020 | |
Financial Instruments [Abstract] | |
Subordinated liabilities | 28 Subordinated liabilities HSBC’s subordinated liabilities 2020 2019 $m $m At amortised cost 21,951 24,600 – subordinated liabilities 20,095 22,775 – preferred securities 1,856 1,825 Designated at fair value (Note 24) 10,844 10,549 – subordinated liabilities 10,844 10,130 – preferred securities — 419 At 31 Dec 32,795 35,149 Issued by HSBC subsidiaries 10,223 12,363 Issued by HSBC Holdings 22,572 22,786 Subordinated liabilities rank behind senior obligations and generally count towards the capital base of HSBC. Capital securities may be called and redeemed by HSBC subject to prior notification to the PRA and, where relevant, the consent of the local banking regulator. If not redeemed at the first call date, coupons payable may reset or become floating rate based on interbank rates. On subordinated liabilities other than floating rate notes, interest is payable at fixed rates of up to 10.176%. The balance sheet amounts disclosed in the following table are presented on an IFRS basis and do not reflect the amount that the instruments contribute to regulatory capital, principally due to regulatory amortisation and regulatory eligibility limits. HSBC’s subsidiaries subordinated liabilities in issue 2020 2019 Footnotes First call date Maturity date $m $m Additional tier 1 capital securities guaranteed by HSBC Holdings 1 $900m 10.176% non-cumulative step-up perpetual preferred securities, series 2 Jun 2030 900 900 900 900 Additional tier 1 capital securities guaranteed by HSBC Bank plc 1 £300m 5.862% non-cumulative step-up perpetual preferred securities 2 Apr 2020 — 420 £700m 5.844% non-cumulative step-up perpetual preferred securities Nov 2031 956 925 956 1,345 Tier 2 securities issued by HSBC Bank plc $750m Undated floating rate primary capital notes Jun 1990 750 750 $500m Undated floating rate primary capital notes Sep 1990 500 500 $300m Undated floating rate primary capital notes, series 3 Jun 1992 300 300 $300m 7.65% subordinated notes — May 2025 300 300 1,850 1,850 £300m 6.50% subordinated notes — Jul 2023 409 396 £350m 5.375% callable subordinated step-up notes 3 Nov 2025 Nov 2030 583 549 £500m 5.375% subordinated notes — Aug 2033 981 875 £225m 6.25% subordinated notes — Jan 2041 306 296 £600m 4.75% subordinated notes — Mar 2046 812 785 3,091 2,901 4,941 4,751 Tier 2 securities issued by The Hongkong and Shanghai Banking Corporation Ltd $400m Primary capital undated floating rate notes (third series) Jul 1991 400 400 400 400 Tier 2 securities issued by HSBC Bank Malaysia Berhad MYR500m 5.05% subordinated bonds 7 Nov 2022 Nov 2027 124 122 124 122 Tier 2 securities issued by HSBC USA Inc. 7 $750m 5.00% subordinated notes 8 — Sep 2020 — 748 $250m 7.20% subordinated debentures — Jul 2097 222 221 Other subordinated liabilities each less than $150m 200 202 422 1,171 Tier 2 securities issued by HSBC Bank USA, N.A. $1,250m 4.875% subordinated notes 8 — Aug 2020 — 1,246 $1,000m 5.875% subordinated notes 5 — Nov 2034 497 463 $750m 5.625% subordinated notes 5 — Aug 2035 533 496 $700m 7.00% subordinated notes — Jan 2039 700 700 1,730 2,905 Tier 2 securities issued by HSBC Finance Corporation $2,939m 6.676% senior subordinated notes 6,7 — Jan 2021 509 507 Tier 2 securities issued by HSBC Bank Canada Other subordinated liabilities each less than $150.00m Oct 1996 Nov 2083 9 26 9 26 Securities issued by other HSBC subsidiaries Other subordinated liabilities each less than $200m 4 232 236 Subordinated liabilities issued by HSBC subsidiaries at 31 Dec 10,223 12,363 1 See paragraph below, ‘Guaranteed by HSBC Holdings or HSBC Bank plc’. 2 HSBC Bank plc exercised the call option on the security in April 2020 and the security was subsequently redeemed. 3 The interest rate payable after November 2025 is the sum of the three-month sterling Libor plus 1.5 percentage points. 4 These securities are included in the capital base of HSBC, a subset of which are included in accordance with the grandfathering provisions under CRR II, with the exception of $109m in relation to securities which matured 31 December 2020, settlement expected in June 2021, which are no longer eligible for inclusion in the capital base of HSBC. 5 HSBC tendered for these securities in November 2019. The principal balance is $358m and $383m respectively. The original notional value of these securities are $1,000m and $750m respectively. 6 HSBC tendered for these securities in 2017. In January 2018, a further tender was conducted. The principal balance is $507m. The original notional of these securities is $2,939m. This instrument matured and settled in January 2021. 7 These securities are ineligible for inclusion in the capital base of HSBC. 8 These securities matured in 2020 and were redeemed. HSBC Holdings’ subordinated liabilities 2020 2019 $m $m At amortised cost 17,916 18,361 Designated at fair value (Note 24) 6,040 5,616 At 31 Dec 23,956 23,977 HSBC Holdings’ subordinated liabilities in issue First call Maturity 2020 2019 Footnotes date date $m $m Tier 2 securities issued by HSBC Holdings Amounts owed to third parties $2,000m 4.25% subordinated notes 2,3 — Mar 2024 2,151 2,076 $1,500m 4.25% subordinated notes 2 — Aug 2025 1,702 1,611 $1,500m 4.375% subordinated notes 2 — Nov 2026 1,736 1,626 $488m 7.625% subordinated notes 1 — May 2032 541 545 $222m 7.35% subordinated notes 1 — Nov 2032 243 245 $2,000m 6.50% subordinated notes 1 — May 2036 2,034 2,036 $2,500m 6.50% subordinated notes 1 — Sep 2037 3,033 2,738 $1,500m 6.80% subordinated notes 1 — Jun 2038 1,490 1,490 $1,500m 5.25% subordinated notes 2 — Mar 2044 2,092 1,886 £650m 5.75% subordinated notes 2 — Dec 2027 1,130 1,059 £650m 6.75% subordinated notes 2 — Sep 2028 884 855 £750m 7.00% subordinated notes 2 — Apr 2038 1,157 1,064 £900m 6.00% subordinated notes 2 — Mar 2040 1,483 1,294 €1,500m 3.0% subordinated notes 2 — Jun 2025 1,916 1,736 €1,000m 3.125% subordinated notes 2 — Jun 2028 1,472 1,321 23,064 21,582 Amounts owed to HSBC undertakings $900m 10.176% subordinated step-up cumulative notes Jun 2030 Jun 2040 892 892 892 892 Other securities issued by HSBC Holdings Amounts owed to third parties $1,500m 5.625% contingent convertible securities 4 Nov 2019 Jan 2020 — 1,503 — 1,503 At 31 Dec 23,956 23,977 1 Amounts owed to third parties represent securities included in the capital base of HSBC as tier 2 securities in accordance with the grandfathering provisions under CRR II. Prior period figures are included on a CRD IV basis. 2 These securities are included in the capital base of HSBC as fully CRR II-compliant tier 2 securities on an end point basis. 3 These subordinated notes are measured at amortised cost in HSBC Holdings, where the interest rate risk is hedged using a fair value hedge, while they are measured at fair value in the Group. 4 This security was called by HSBC Holdings on 22 November 2019 and was redeemed and cancelled on 17 January 2020. Between the date of exercise of the call option and the redemption, this security was considered to be a subordinated liability. Refer to Note 31 for further details on additional tier 1 securities. Guaranteed by HSBC Holdings or HSBC Bank plc Capital securities guaranteed by HSBC Holdings or HSBC Bank plc were issued by the Jersey limited partnerships. The proceeds of these were lent to the respective guarantors by the limited partnerships in the form of subordinated notes. They qualify as additional tier 1 capital for HSBC under CRR II by virtue of the application of grandfathering provisions. The capital security guaranteed by HSBC Bank plc also qualifies as additional tier 1 capital for HSBC Bank plc (on a solo and a consolidated basis) under CRR II by virtue of the same grandfathering process. These preferred securities, together with the guarantee, are intended to provide investors with rights to income and capital distributions and distributions upon liquidation of the relevant issuer that are equivalent to the rights that they would have had if they had purchased non-cumulative perpetual preference shares of the relevant issuer. There are limitations on the payment of distributions if such payments are prohibited under UK banking regulations or other requirements, if a payment would cause a breach of HSBC’s capital adequacy requirements, or if HSBC Holdings or HSBC Bank plc has insufficient distributable reserves (as defined). HSBC Holdings and HSBC Bank plc have individually covenanted that, if prevented under certain circumstances from paying distributions on the preferred securities in full, they will not pay dividends or other distributions in respect of their ordinary shares, or repurchase or redeem their ordinary shares, until the distribution on the preferred securities has been paid in full. If the consolidated total capital ratio of HSBC Holdings falls below the regulatory minimum required or if the Directors expect it to do so in the near term, provided that proceedings have not been commenced for the liquidation, dissolution or winding up of HSBC Holdings, the holders’ interests in the preferred securities guaranteed by HSBC Holdings will be exchanged for interests in preference shares issued by HSBC Holdings that have economic terms which are in all material respects equivalent to the preferred securities and their guarantee. If the preferred securities guaranteed by HSBC Bank plc are outstanding in November 2048, or if the total capital ratio of HSBC Bank plc (on a solo or consolidated basis) falls below the regulatory minimum required, or if the Directors expect it to do so in the near term, provided that proceedings have not been commenced for the liquidation, dissolution or winding up of HSBC Bank plc, the holders’ interests in the preferred security guaranteed by HSBC Bank plc will be exchanged for interests in preference shares issued by HSBC Bank plc that have economic terms which are in all material respects equivalent to the preferred security and its guarantee. Tier 2 securities Tier 2 capital securities are either perpetual or dated subordinated securities on which there is an obligation to pay coupons. These capital securities are included within HSBC's regulatory capital base as tier 2 capital under CRR II, either as fully eligible capital or by virtue of the application of grandfathering provisions. In accordance with CRR II, the capital contribution of all tier 2 securities is amortised for regulatory purposes in their final five years before maturity. |
Maturity analysis of assets, li
Maturity analysis of assets, liabilities and off-balance sheet commitments | 12 Months Ended |
Dec. 31, 2020 | |
Financial Instruments [Abstract] | |
Offsetting of financial assets and financial liabilities | 16 Financial investments Carrying amount of financial investments 2020 2019 $m $m Financial investments measured at fair value through other comprehensive income 402,054 357,577 – treasury and other eligible bills 118,163 95,043 – debt securities 281,467 260,536 – equity securities 2,337 1,913 – other instruments 87 85 Debt instruments measured at amortised cost 88,639 85,735 – treasury and other eligible bills 11,757 10,476 – debt securities 76,882 75,259 At 31 Dec 490,693 443,312 Equity instruments measured at fair value through other comprehensive income Fair value Dividends recognised Type of equity instruments $m $m Investments required by central institutions 904 22 Business facilitation 1,387 22 Others 46 3 At 31 Dec 2020 2,337 47 Investments required by central institutions 738 22 Business facilitation 1,124 19 Others 51 9 At 31 Dec 2019 1,913 50 Financial investments at amortised cost and fair value 2020 2019 Amortised cost Fair value 1 Amortised cost Fair value 1 Footnotes $m $m $m $m US Treasury 75,531 78,251 79,633 80,589 US Government agencies 2 19,851 20,320 26,356 26,387 US Government-sponsored entities 10,691 11,224 8,070 8,259 UK Government 28,094 28,754 28,621 28,973 Hong Kong Government 55,483 55,507 47,824 47,820 Other governments 178,091 180,881 140,510 142,511 Asset-backed securities 3 2,708 2,536 2,954 2,889 Corporate debt and other securities 110,015 118,960 101,750 107,364 Equities 1,410 2,337 1,241 1,913 At 31 Dec 481,874 498,770 436,959 446,705 1 Included within ‘fair value’ figures are debt securities issued by banks and other financial institutions of $62bn (2019: $61bn), of which $10bn (2019: $11bn) are guaranteed by various governments. 2 Includes securities that are supported by an explicit guarantee issued by the US Government. 3 Excludes asset-backed securities included under US Government agencies and sponsored entities. Maturities of investments in debt securities at their carrying amount Up to 1 year 1 to 5 years 5 to 10 years Over 10 years Total $m $m $m $m $m Debt securities measured at fair value through other comprehensive income 72,250 131,859 42,168 35,190 281,467 Debt securities measured at amortised cost 6,135 16,499 19,437 34,811 76,882 At 31 Dec 2020 78,385 148,358 61,605 70,001 358,349 Debt securities measured at fair value through other comprehensive income 61,833 123,740 42,831 32,132 260,536 Debt securities measured at amortised cost 5,472 14,395 21,431 33,961 75,259 At 31 Dec 2019 67,305 138,135 64,262 66,093 335,795 Contractual maturities and weighted average yields of investment debt securities Up to 1 year 1 to 5 years 5 to 10 years Over 10 years Amount Yield Amount Yield Amount Yield Amount Yield $m % $m % $m % $m % Debt securities measured at fair value through other comprehensive income US Treasury 6,596 1.2 22,945 1.6 15,618 1.5 4,195 2.3 US Government agencies — — 95 1.8 43 2.8 12,608 1.8 US Government-sponsored agencies 30 2.8 789 2.2 2,988 2.5 4,968 1.8 UK Government 2,765 1.5 5,126 0.8 6,220 0.2 4,910 2.3 Hong Kong Government 84 1.6 247 1.6 167 1.8 — — Other governments 51,507 1.7 62,587 2.3 8,184 1.6 2,089 4.3 Asset-backed securities 18 2.9 93 1.4 399 1.8 2,199 1.2 Corporate debt and other securities 10,831 2.1 35,615 1.4 7,169 1.8 2,583 3.4 Total amortised cost at 31 Dec 2020 71,831 127,497 40,788 33,552 Total carrying value 72,250 131,859 42,168 35,190 Debt securities measured at amortised cost US Treasury 3,769 0.1 4,618 1.6 3,003 2.0 969 2.8 US Government agencies — — 9 3.8 13 4.5 7,084 2.6 US Government-sponsored agencies 110 2.5 258 2.7 436 2.2 1,112 3.3 Hong Kong Government 13 3.0 23 1.6 118 2.6 12 4.8 Other governments 179 3.4 370 4.1 426 3.8 1,011 4.2 Asset-backed securities — — — — — — 2 6.0 Corporate debt and other securities 2,064 3.3 11,221 3.4 15,441 3.4 24,621 3.8 Total amortised cost at 31 Dec 2020 6,135 16,499 19,437 34,811 Total carrying value 6,135 16,497 19,439 34,812 The maturity distributions of ABSs are presented in the above table on the basis of contractual maturity dates. The weighted average yield for each range of maturities is calculated by dividing the annualised interest income for the year ended 31 December 2020 by the book amount of debt securities at that date. The yields do not include the effect of related derivatives. HSBC Holdings HSBC Holdings carrying amount of financial investments 2020 2019 $m $m Debt instruments measured at amortised cost – treasury and other eligible bills 10,941 10,081 – debt securities 6,544 6,025 At 31 Dec 17,485 16,106 Financial investments at amortised cost and fair value 2020 2019 Amortised cost Fair value Amortised cost Fair value $m $m $m $m US Treasury 17,485 17,521 16,106 16,121 US Government agencies — — — — US Government-sponsored entities — — — — At 31 Dec 17,485 17,521 16,106 16,121 Maturities of investments in debt securities at their carrying amount Up to 1 year 1 to 5 years 5 to 10 years Over 10 years Total $m $m $m $m $m Debt securities measured at amortised cost 3,767 2,777 — — 6,544 At 31 Dec 2020 3,767 2,777 — — 6,544 Debt securities measured at amortised cost 3,010 3,015 — — 6,025 At 31 Dec 2019 3,010 3,015 — — 6,025 Contractual maturities and weighted average yields of investment debt securities Up to 1 year 1 to 5 years 5 to 10 years Over 10 years Amount Yield Amount Yield Amount Yield Amount Yield $m % $m % $m % $m % Debt securities measured at amortised cost US Treasury 3,767 1.5 2,777 0.3 — — — — US Government agencies — — — — — — — — US Government-sponsored agencies — — — — — — — — Total amortised cost at 31 Dec 2020 3,767 2,777 — — Total carrying value 3,767 2,777 — — 24 Financial liabilities designated at fair value HSBC 2020 2019 Footnotes $m $m Deposits by banks and customer accounts 1, 2 19,176 17,660 Liabilities to customers under investment contracts 6,385 5,893 Debt securities in issue (Note 25) 121,034 130,364 Subordinated liabilities (Note 28) 10,844 10,130 Preferred securities (Note 28) — 419 At 31 Dec 157,439 164,466 1 Structured deposits placed at HSBC Bank USA are insured by the Federal Deposit Insurance Corporation, a US government agency, up to $250,000 per depositor. HSBC Holdings 2020 2019 $m $m Debt securities in issue (Note 25) 19,624 24,687 Subordinated liabilities (Note 28) 6,040 5,616 At 31 Dec 25,664 30,303 29 Maturity analysis of assets, liabilities and off-balance sheet commitments The table on page 383 provides an analysis of consolidated total assets, liabilities and off-balance sheet commitments by residual contractual maturity at the balance sheet date. These balances are included in the maturity analysis as follows: • Trading assets and liabilities (including trading derivatives but excluding reverse repos, repos and debt securities in issue) are included in the ‘Due not more than 1 month’ time bucket, because trading balances are typically held for short periods of time. • Financial assets and liabilities with no contractual maturity (such as equity securities) are included in the ‘Due over 5 years’ time bucket. Undated or perpetual instruments are classified based on the contractual notice period, which the counterparty of the instrument is entitled to give. Where there is no contractual notice period, undated or perpetual contracts are included in the ‘Due over 5 years’ time bucket. • Non-financial assets and liabilities with no contractual maturity are included in the ‘Due over 5 years’ time bucket. • Financial instruments included within assets and liabilities of disposal groups held for sale are classified on the basis of the contractual maturity of the underlying instruments and not on the basis of the disposal transaction. • Liabilities under insurance contracts are included in the ‘Due over 5 years’ time bucket. Liabilities under investment contracts are classified in accordance with their contractual maturity. Undated investment contracts are included in the ‘Due over 5 years’ time bucket, although such contracts are subject to surrender and transfer options by the policyholders. • Loan and other credit-related commitments are classified on the basis of the earliest date they can be drawn down. HSBC Maturity analysis of assets, liabilities and off-balance sheet commitments Due not Due over Due over Due over Due over Due over Due over Due over Total $m $m $m $m $m $m $m $m $m Financial assets Cash and balances at central banks 304,481 — — — — — — — 304,481 Items in the course of collection from other banks 4,094 — — — — — — — 4,094 Hong Kong Government certificates of indebtedness 40,420 — — — — — — — 40,420 Trading assets 228,434 1,778 458 135 67 644 474 — 231,990 Financial assets designated or otherwise mandatorily measured at fair value 3,061 240 466 262 454 1,424 1,992 37,654 45,553 Derivatives 306,561 15 12 14 14 441 424 245 307,726 Loans and advances to banks 51,652 11,283 5,640 3,068 2,284 4,059 3,359 271 81,616 Loans and advances to customers 172,306 70,746 65,838 44,392 38,606 112,440 206,448 327,211 1,037,987 – personal 51,711 9,645 7,918 7,270 7,033 26,318 70,447 275,736 456,078 – corporate and commercial 101,684 55,009 51,755 31,529 28,553 76,225 125,393 47,446 517,594 – financial 18,911 6,092 6,165 5,593 3,020 9,897 10,608 4,029 64,315 Reverse repurchase agreements – non-trading 157,234 44,658 16,655 5,113 1,324 3,058 2,586 — 230,628 Financial investments 47,270 77,450 44,255 14,523 24,112 48,741 100,007 134,335 490,693 Accrued income and other financial assets 93,118 5,951 2,743 475 458 267 444 2,107 105,563 Financial assets at 31 Dec 2020 1,408,631 212,121 136,067 67,982 67,319 171,074 315,734 501,823 2,880,751 Non-financial assets — — — — — — — 103,413 103,413 Total assets at 31 Dec 2020 1,408,631 212,121 136,067 67,982 67,319 171,074 315,734 605,236 2,984,164 Off-balance sheet commitments received Loan and other credit-related commitments 60,849 — — — — — — — 60,849 Financial liabilities Hong Kong currency notes in circulation 40,420 — — — — — — — 40,420 Deposits by banks 60,973 1,396 714 695 197 718 16,757 630 82,080 Customer accounts 1 1,533,595 61,376 22,568 9,375 8,418 4,467 2,859 122 1,642,780 – personal 766,631 32,429 15,511 6,276 5,825 3,591 1,976 39 832,278 – corporate and commercial 588,887 22,856 5,963 2,966 2,058 627 777 37 624,171 – financial 178,077 6,091 1,094 133 535 249 106 46 186,331 Repurchase agreements – non-trading 102,633 3,979 2,165 386 675 16 1,035 1,012 111,901 Items in the course of transmission to other banks 4,343 — — — — — — — 4,343 Trading liabilities 70,799 3,377 400 143 185 289 72 1 75,266 Financial liabilities designated at 18,434 7,333 6,973 6,775 6,593 14,182 40,510 56,639 157,439 – debt securities in issue: covered bonds — — — — — 1,239 2,918 — 4,157 – debt securities in issue: unsecured 10,762 4,470 5,522 5,604 5,530 10,455 31,710 42,825 116,878 – subordinated liabilities and preferred securities — — — — — — 3,912 6,932 10,844 – other 2 7,672 2,863 1,451 1,171 1,063 2,488 1,970 6,882 25,560 Derivatives 300,902 264 198 38 55 237 726 581 303,001 Debt securities in issue 6,552 12,329 14,964 9,764 3,878 9,215 16,618 22,172 95,492 – covered bonds — — 28 — 750 1,275 999 — 3,052 – otherwise secured 1,094 1,585 1,001 1,000 — 274 1,640 1,590 8,184 – unsecured 5,458 10,744 13,935 8,764 3,128 7,666 13,979 20,582 84,256 Accruals and other financial liabilities 96,821 9,794 3,886 692 1,174 1,742 3,179 3,053 120,341 Subordinated liabilities 619 — 237 — 12 12 2,658 18,413 21,951 Total financial liabilities at 31 Dec 2020 2,236,091 99,848 52,105 27,868 21,187 30,878 84,414 102,623 2,655,014 Non-financial liabilities — — — — — — — 124,155 124,155 Total liabilities at 31 Dec 2020 2,236,091 99,848 52,105 27,868 21,187 30,878 84,414 226,778 2,779,169 Off-balance sheet commitments given Loan and other credit-related commitments 842,974 435 172 243 296 180 299 171 844,770 – personal 235,606 172 27 47 115 125 288 171 236,551 – corporate and commercial 471,410 250 138 194 178 37 11 — 472,218 – financial 135,958 13 7 2 3 18 — — 136,001 Maturity analysis of assets, liabilities and off-balance sheet commitments (continued) Due not Due over Due over Due over Due over Due over Due over Due over Total $m $m $m $m $m $m $m $m $m Financial assets Cash and balances at central banks 154,099 — — — — — — — 154,099 Items in the course of collection from other banks 4,956 — — — — — — — 4,956 Hong Kong Government certificates of indebtedness 38,380 — — — — — — — 38,380 Trading assets 252,009 644 412 62 452 152 540 — 254,271 Financial assets designated at fair value 4,846 74 381 200 422 780 2,356 34,568 43,627 Derivatives 241,941 150 24 27 22 112 294 425 242,995 Loans and advances to banks 41,554 7,826 4,877 2,592 2,859 6,848 2,005 642 69,203 Loans and advances to customers 190,675 82,379 61,254 36,005 36,755 106,203 227,811 295,661 1,036,743 – personal 51,893 14,547 8,562 7,245 6,931 22,923 66,761 252,275 431,137 – corporate and commercial 118,585 61,629 45,924 25,006 25,069 71,751 147,139 39,958 535,061 – financial 20,197 6,203 6,768 3,754 4,755 11,529 13,911 3,428 70,545 Reverse repurchase agreements 164,741 38,997 17,933 8,226 6,305 2,298 2,362 — 240,862 Financial investments 36,128 64,472 35,795 17,485 18,202 48,427 90,193 132,610 443,312 Accrued income and other financial assets 80,661 5,544 2,532 915 495 432 363 2,037 92,979 Financial assets at 31 Dec 2019 1,209,990 200,086 123,208 65,512 65,512 165,252 325,924 465,943 2,621,427 Non-financial assets — — — — — — — 93,725 93,725 Total assets at 31 Dec 2019 1,209,990 200,086 123,208 65,512 65,512 165,252 325,924 559,668 2,715,152 Off-balance sheet commitments received Loan and other credit-related commitments 63,199 — — — — — — — 63,199 Financial liabilities Hong Kong currency notes in circulation 38,380 — — — — — — — 38,380 Deposits by banks 46,397 4,167 2,773 454 844 2,455 876 1,056 59,022 Customer accounts 1 1,287,358 81,038 38,343 11,530 11,342 5,275 4,075 154 1,439,115 – personal 646,843 49,405 29,320 8,484 6,852 3,631 2,646 71 747,252 – corporate and commercial 479,763 24,214 7,162 2,621 3,009 1,119 1,388 41 519,317 – financial 160,752 7,419 1,861 425 1,481 525 41 42 172,546 Repurchase agreements – non-trading 132,042 3,402 1,579 1,882 59 354 2 1,024 140,344 Items in the course of transmission to other banks 4,817 — — — — — — — 4,817 Trading liabilities 82,130 209 265 148 102 287 29 — 83,170 Financial liabilities designated at fair value 12,844 4,667 4,236 4,552 5,196 26,081 43,534 63,356 164,466 – debt securities in issue: covered bonds — — — — 1,139 — 2,663 1,159 4,961 – debt securities in issue: unsecured 8,884 2,046 2,946 3,757 3,030 22,950 34,753 47,036 125,402 – subordinated liabilities and preferred securities 23 — — — — — 2,131 8,396 10,550 – other 3,937 2,621 1,290 795 1,027 3,131 3,987 6,765 23,553 Derivatives 237,901 105 73 10 18 68 540 782 239,497 Debt securities in issue 8,183 17,374 12,799 13,152 11,382 14,572 20,048 7,045 104,555 – covered bonds — — — — — 749 998 — 1,747 – otherwise secured 2,015 2 248 161 — 219 958 1,663 5,266 – unsecured 6,168 17,372 12,551 12,991 11,382 13,604 18,092 5,382 97,542 Accruals and other financial liabilities 87,796 9,078 3,914 1,244 2,058 1,592 2,823 2,890 111,395 Subordinated liabilities 1,502 — 22 1,993 100 755 424 19,804 24,600 Total financial liabilities at 31 Dec 2019 1,939,350 120,040 64,004 34,965 31,101 51,439 72,351 96,111 2,409,361 Non-financial liabilities — — — — — — — 113,123 113,123 Total liabilities at 31 Dec 2019 1,939,350 120,040 64,004 34,965 31,101 51,439 72,351 209,234 2,522,484 Off-balance sheet commitments given Loan and other credit-related commitments 794,336 600 590 313 551 442 458 318 797,608 – personal 221,952 40 39 56 167 208 392 299 223,153 – corporate and commercial 460,569 117 96 52 381 218 66 19 461,518 – financial 111,815 443 455 205 3 16 — — 112,937 1 ‘Customer accounts’ includes $463,524m (2019: $408,090m) insured by guarantee schemes. HSBC Holdings Maturity analysis of assets, liabilities and off-balance sheet commitments (continued) Due not Due over Due over Due over Due over Due over Due over Due over Total $m $m $m $m $m $m $m $m $m Financial assets Cash at bank and in hand: – balances with HSBC undertakings 2,913 — — — — — — — 2,913 Derivatives 1,473 — 5 — — 9 1,131 2,080 4,698 Loans and advances to HSBC undertakings — 600 120 — — 312 6,027 3,384 10,443 Financial assets with HSBC undertakings designated and otherwise mandatorily measured at fair value — 451 — — — 4,320 23,203 37,279 65,253 Financial investments 3,701 3,769 2,924 799 3,528 2,764 — — 17,485 Accrued income and other financial assets 1,015 275 100 33 22 — — — 1,445 Total financial assets at 31 Dec 2020 9,102 5,095 3,149 832 3,550 7,405 30,361 42,743 102,237 Non-financial assets — — — — — — — 160,936 160,936 Total assets at 31 Dec 2020 9,102 5,095 3,149 832 3,550 7,405 30,361 203,679 263,173 Financial liabilities Amounts owed to HSBC undertakings — 330 — — — — — — 330 Financial liabilities designated at fair value — 984 859 — — 3,088 3,810 16,923 25,664 – debt securities in issue — 984 859 — — 3,088 2,108 12,585 19,624 – subordinated liabilities and preferred securities — — — — — — 1,702 4,338 6,040 Derivatives 3,052 — — — — — — 8 3,060 Debt securities in issue — 503 1,621 563 — 2,186 24,489 34,667 64,029 Accruals and other financial liabilities 3,769 689 301 57 12 — 1 36 4,865 Subordinated liabilities — — — — — — 4,067 13,849 17,916 31 Dec 2020 6,821 2,506 2,781 620 12 5,274 32,367 65,483 115,864 Non-financial liabilities — — — — — — — 509 509 Total liabilities at 31 Dec 2020 6,821 2,506 2,781 620 12 5,274 32,367 65,992 116,373 Off-balance sheet commitments given Undrawn formal standby facilities, credit lines and other commitments to lend — — — — — — — — — Financial assets Cash at bank and in hand: – balances with HSBC undertakings 2,382 — — — — — — — 2,382 Derivatives 596 — — — — — 230 1,176 2,002 Loans and advances to HSBC undertakings 102 672 120 25 — 600 1,909 6,790 10,218 Loans and advances to HSBC undertakings designated at fair value — — — — — 458 24,845 36,661 61,964 Financial investments in HSBC undertakings 2,754 3,493 1,873 2,251 2,721 3,014 — — 16,106 Accrued income and other financial assets 93 277 97 48 16 12 — — 543 Total financial assets at 31 Dec 2019 5,927 4,442 2,090 2,324 2,737 4,084 26,984 44,627 93,215 Non-financial assets — — — — — — — 162,025 162,025 Total assets at 31 Dec 2019 5,927 4,442 2,090 2,324 2,737 4,084 26,984 206,652 255,240 Financial liabilities Amounts owed to HSBC undertakings — 464 — — — — — — 464 Financial liabilities designated at fair value — — — — — 5,651 6,710 17,942 30,303 – debt securities in issue — — — — — 5,651 6,710 12,326 24,687 – subordinated liabilities and preferred securities — — — — — — — 5,616 5,616 Derivatives 1,838 — — — — 20 85 78 2,021 Debt securities in issue — — — — — 10,134 23,786 22,924 56,844 Accruals and other financial liabilities 900 574 303 55 10 — — 35 1,877 Subordinated liabilities 1,503 — — — — — 2,076 14,782 18,361 Total financial liabilities at 31 Dec 2019 4,241 1,038 303 55 10 15,805 32,657 55,761 109,870 Non-financial liabilities — — — — — — — 326 326 Total liabilities at 31 Dec 2019 4,241 1,038 303 55 10 15,805 32,657 56,087 110,196 Off-balance sheet commitments given Undrawn formal standby facilities, credit lines and other commitments to lend — — — — — — — — — Contractual maturity of financial liabilities The following table shows, on an undiscounted basis, all cash flows relating to principal and future coupon payments (except for trading liabilities and derivatives not treated as hedging derivatives). For this reason, balances in the following table do not agree directly with those in our consolidated balance sheet. Undiscounted cash flows payable in relation to hedging derivative liabilities are classified according to their contractual maturities. Trading liabilities and derivatives not treated as hedging derivatives are included in the ‘Due not more than 1 month’ time bucket and not by contractual maturity. Cash flows payable by HSBC under financial liabilities by remaining contractual maturities Due not more Due over Due over Due over Due over 5 years Total $m $m $m $m $m $m Deposits by banks 61,001 1,442 1,639 17,352 632 82,066 Customer accounts 1,530,584 64,809 40,755 7,720 153 1,644,021 Repurchase agreements – non-trading 102,664 3,984 3,257 1,058 1,017 111,980 Trading liabilities 75,266 — — — — 75,266 Financial liabilities designated at fair value 1 18,815 7,556 19,243 59,835 55,475 160,924 Derivatives 300,158 356 579 1,830 2,128 305,051 Debt securities in issue 6,551 12,709 29,520 28,787 24,075 101,642 Subordinated liabilities 739 170 1,102 7,024 28,812 37,847 Other financial liabilities 140,094 9,120 5,113 5,030 2,887 162,244 2,235,872 100,146 101,208 128,636 115,179 2,681,041 Loan and other credit-related commitments 842,945 434 740 480 171 844,770 Financial guarantees 2 18,200 13 93 37 41 18,384 At 31 Dec 2020 3,097,017 100,593 102,041 129,153 115,391 3,544,195 Proportion of cash flows payable in period 87% 3% 3% 4% 3% Deposits by banks 46,471 4,167 4,227 3,371 1,084 59,320 Customer accounts 1,288,577 81,037 62,105 9,900 191 1,441,810 Repurchase agreements – non-trading 132,156 3,403 3,565 368 1,036 140,528 Trading liabilities 83,170 — — — — 83,170 Financial liabilities designated at fair value 13,447 4,666 14,747 76,155 68,045 177,060 Derivatives 237,897 105 522 1,076 1,691 241,291 Debt securities in issue 8,757 17,374 38,423 36,584 8,177 109,315 Subordinated liabilities 1,847 — 2,908 5,197 27,892 37,844 Other financial liabilities 127,898 9,079 6,792 5,637 2,992 152,398 1,940,220 119,831 133,289 138,288 111,108 2,442,736 Loan and other credit-related commitments 795,243 601 561 886 317 797,608 Financial guarantees 2 20,007 37 102 68 — 20,214 At 31 Dec 2019 2,755,470 120,469 133,952 139,242 111,425 3,260,558 Proportion of cash flows payable in period 85% 4% 4% 4% 3% 1 In 2020, cash prime brokerage balances of $3,889m have been presented as a single balance, resulting in a reclassification from customer accounts at amortised cost to provide more relevant information on the effect of these transactions on the Group’s financial position. Comparatives have not been re-presented. HSBC Holdings HSBC Holdings’ primary sources of liquidity are dividends received from subsidiaries, interest on and repayment of intra-Group loans and securities, and interest earned on its own liquid funds. HSBC Holdings also raises funds in the debt capital markets to meet the Group’s minimum requirement for own funds and eligible liabilities. HSBC Holdings uses this liquidity to meet its obligations, including interest and principal repayments on external debt liabilities, operating expenses and collateral on derivative transactions. HSBC Holdings is also subject to contingent liquidity risk by virtue of credit-related commitments and guarantees and similar contracts issued relating to its subsidiaries. Such commitments and guarantees are only issued after due consideration of HSBC Holdings’ ability to finance the commitments and guarantees and the likelihood of the need arising. HSBC Holdings actively manages the cash flows from its subsidiaries to optimise the amount of cash held at the holding company level. During 2020, consistent with the Group’s capital plan, the Group’s subsidiaries did not experience any significant restrictions on paying dividends or repaying loans and advances. Also, there are no foreseen restrictions envisaged with regard to planned dividends or payments. However, the ability of subsidiaries to pay dividends or advance monies to HSBC Holdings depends on, among other things, their respective local regulatory capital and banking requirements, exchange controls, statutory reserves, and financial and operating performance. HSBC Holdings currently has sufficient liquidity to meet its present requirements. Liquidity risk in HSBC Holdings is overseen by Holdings ALCO. This risk arises because of HSBC Holdings’ obligation to make payments to debt holders as they fall due and to pay its operating expenses. The liquidity risk related to these cash flows is managed by matching external debt obligations with internal loan cash flows and by maintaining an appropriate liquidity buffer that is monitored by Holdings ALCO. The balances in the following table are not directly comparable with those on the balance sheet of HSBC Holdings as the table incorporates, on an undiscounted basis, all cash flows relating to principal and future coupon payments (except for derivatives not treated as hedging derivatives). Undiscounted cash flows payable in relation to hedging derivative liabilities are classified according to their contractual maturities. Derivatives not treated as hedging derivatives are included in the ‘On demand’ time bucket. In addition, loan commitments and financial guarantees and similar contracts are generally not recognised on our balance sheet. The undiscounted cash flows potentially payable under financial guarantees and similar contracts are classified on the basis of the earliest date on which they can be called. Cash flows payable by HSBC Holdings under financial liabilities by remaining contractual maturities Due not more Due over 1 Due over 3 Due over 1 Due over Total Footnotes $m $m $m $m $m $m Amounts owed to HSBC undertakings — 330 — — — 330 Financial liabilities designated at fair value 70 1,109 1,412 9,110 16,104 27,805 Derivatives 3,085 — 2 — — 3,087 Debt securities in issue 135 760 3,354 31,567 37,103 72,919 Subordinated liabilities 82 156 726 7,513 21,552 30,029 Other financial liabilities 3,769 690 370 — 36 4,865 7,141 3,045 5,864 48,190 74,795 139,035 Loan commitments — — — — — — Financial guarantees 1 13,787 — — — — 13,787 At 31 Dec 2020 20,928 3,045 5,864 48,190 74,795 152,822 Amounts owed to HSBC undertakings — 464 — — — 464 Financial liabilities designated at fair value 88 168 784 14,776 18,184 34,000 Derivatives 1,838 — — 105 78 2,021 Debt securities in issue 128 244 1,137 38,690 25,310 65,509 Subordinated liabilities 1,588 154 718 5,743 21,533 29,736 Other financial liabilities 956 519 365 — — 1,840 4,598 1,549 3,004 59,314 65,105 133,570 Loan commitments — — — — — — Financial guarantees 1 11,061 — — — — 11,061 At 31 Dec 2019 15,659 1,549 3,004 59,314 65,105 144,631 1 Excludes performance guarantee contracts to which the impairment requirements in IFRS 9 are not applied. 30 Offsetting of financial assets and financial liabilities In the following table, the ‘Amounts not set off in the balance sheet’ include transactions where: • the counterparty has an offsetting exposure with HSBC and a master netting or similar arrangement is in place with a right to set off only in the event of default, insolvency or bankruptcy, or the offset criteria are otherwise not satisfied; and • in the case of derivatives and reverse repurchase/repurchase, stock borrowing/lending and similar agreements, cash and non-cash collateral has been received/pledged. For risk management purposes, the net amounts of loans and advances to customers are subject to limits, which are monitored and the relevant customer agreements are subject to review and updated, as necessary, to ensure the legal right to set off remains appropriate. Offsetting of financial assets and financial liabilities Amounts subject to enforceable netting arrangements Amounts not subject to enforceable netting arrangements 5 Total Amounts not set off in the Gross Amounts Net Financial Non-cash Cash Net Footnotes $m $m $m $m $m $m $m $m $m Financial assets Derivatives (Note 15) 1 368,057 (69,103) 298,954 (230,758) (13,766) (48,154) 6,276 8,772 307,726 Reverse repos, stock borrowing and similar agreements classified as: 2 – trading assets 21,204 (461) 20,743 (709) (20,030) — 4 1,534 22,277 – non-trading assets 318,424 (115,678) 202,746 (13,936) (188,646) (73) 91 28,258 231,004 Loans and advances to customers 3 30,983 (10,882) 20,101 (17,031) — — 3,070 428 20,529 At 31 Dec 2020 738,668 (196,124) 542,544 (262,434) (222,442) (48,227) 9,441 38,992 581,536 Derivatives (Note 15) 1 277,261 (41,739) 235,522 (171,371) (13,095) (47,404) 3,652 7,473 242,995 Reverse repos, stock borrowing and similar agreements classified as: 2 – trading assets 21,465 (280) 21,185 (1,553) (19,630) — 2 165 21,350 – non-trading assets 348,561 (134,772) 213,789 (28,826) (184,495) (189) 279 27,549 241,338 Loans and advances to customers 3 33,039 (10,128) 22,911 (18,893) — — 4,018 735 23,646 At 31 Dec 2019 680,326 (186,919) 493,407 (220,643) (217,220) (47,593) 7,951 35,922 529,329 Financial liabilities Derivatives (Note 15) 1 364,121 (69,103) 295,018 (230,758) (21,387) (37,343) 5,530 7,983 303,001 Repos, stock lending and similar agreements classified as: 2 – trading liabilities 16,626 (461) 16,165 (709) (15,456) — — 159 16,324 – non-trading liabilities 200,999 (115,678) 85,321 (13,936) (71,142) (215) 28 26,580 111,901 Customer accounts 4 41,177 (10,882) 30,295 (17,031) — — 13,264 13 30,308 At 31 Dec 2020 622,923 (196,124) 426,799 (262,434) (107,985) (37,558) 18,822 34,735 461,534 Derivatives (Note 15) 1 275,286 (41,739) 233,547 (171,371) (20,137) (37,844) 4,195 5,950 239,497 Repos, stock lending and similar agreements classified as: 2 – trading liabilities 10,494 (280) 10,214 (1,553) (8,656) — 5 46 10,260 – non-trading liabilities 232,675 (134,772) 97,903 (28,826) (68,638) (357) 82 42,441 140,344 Customer accounts 4 36,750 (10,128) 26,622 (18,893) — — 7,729 31 26,653 At 31 Dec 2019 555,205 (186,919) 368,286 (220,643) (97,431) (38,201) 12,011 48,468 416,754 1 At 31 December 2020, the amount of cash margin received that had been offset against the gross derivatives assets was $7,899m (2019: $2,350m). The amount of cash margin paid that had been offset against the gross derivatives liabilities was $17,955m (2019: $8,303m). 2 For the amount of repos, reverse repos, stock lending, stock borrowing and similar agreements recognised on the balance sheet within ‘Trading assets’ $22,277m (2019: $21,350m) and ‘Trading liabilities’ $16,324m (2019: $10,260m), see the ‘Funding sources and uses’ table on page 220. 3 At 31 December 2020, the total amount of ‘Loans and advances to customers’ was $1,037,987m (2019: $1,036,743m), of which $20,101m (2019: $22,911m) was subject to offsetting. 4 At 31 December 2020, the total amount of ‘Customer accounts’ was $1,642,780m (2019: $1,439,115m), of which $30,295m (2019: $26,622m) was subject to offsetting. 5 These exposures continue to be secured by financial collateral, but we may not have sought or been able to obtain a legal opinion evidencing enforceability of the right of offset. |
Offsetting of financial assets
Offsetting of financial assets and financial liabilities | 12 Months Ended |
Dec. 31, 2020 | |
Financial Instruments [Abstract] | |
Offsetting of financial assets and financial liabilities | 16 Financial investments Carrying amount of financial investments 2020 2019 $m $m Financial investments measured at fair value through other comprehensive income 402,054 357,577 – treasury and other eligible bills 118,163 95,043 – debt securities 281,467 260,536 – equity securities 2,337 1,913 – other instruments 87 85 Debt instruments measured at amortised cost 88,639 85,735 – treasury and other eligible bills 11,757 10,476 – debt securities 76,882 75,259 At 31 Dec 490,693 443,312 Equity instruments measured at fair value through other comprehensive income Fair value Dividends recognised Type of equity instruments $m $m Investments required by central institutions 904 22 Business facilitation 1,387 22 Others 46 3 At 31 Dec 2020 2,337 47 Investments required by central institutions 738 22 Business facilitation 1,124 19 Others 51 9 At 31 Dec 2019 1,913 50 Financial investments at amortised cost and fair value 2020 2019 Amortised cost Fair value 1 Amortised cost Fair value 1 Footnotes $m $m $m $m US Treasury 75,531 78,251 79,633 80,589 US Government agencies 2 19,851 20,320 26,356 26,387 US Government-sponsored entities 10,691 11,224 8,070 8,259 UK Government 28,094 28,754 28,621 28,973 Hong Kong Government 55,483 55,507 47,824 47,820 Other governments 178,091 180,881 140,510 142,511 Asset-backed securities 3 2,708 2,536 2,954 2,889 Corporate debt and other securities 110,015 118,960 101,750 107,364 Equities 1,410 2,337 1,241 1,913 At 31 Dec 481,874 498,770 436,959 446,705 1 Included within ‘fair value’ figures are debt securities issued by banks and other financial institutions of $62bn (2019: $61bn), of which $10bn (2019: $11bn) are guaranteed by various governments. 2 Includes securities that are supported by an explicit guarantee issued by the US Government. 3 Excludes asset-backed securities included under US Government agencies and sponsored entities. Maturities of investments in debt securities at their carrying amount Up to 1 year 1 to 5 years 5 to 10 years Over 10 years Total $m $m $m $m $m Debt securities measured at fair value through other comprehensive income 72,250 131,859 42,168 35,190 281,467 Debt securities measured at amortised cost 6,135 16,499 19,437 34,811 76,882 At 31 Dec 2020 78,385 148,358 61,605 70,001 358,349 Debt securities measured at fair value through other comprehensive income 61,833 123,740 42,831 32,132 260,536 Debt securities measured at amortised cost 5,472 14,395 21,431 33,961 75,259 At 31 Dec 2019 67,305 138,135 64,262 66,093 335,795 Contractual maturities and weighted average yields of investment debt securities Up to 1 year 1 to 5 years 5 to 10 years Over 10 years Amount Yield Amount Yield Amount Yield Amount Yield $m % $m % $m % $m % Debt securities measured at fair value through other comprehensive income US Treasury 6,596 1.2 22,945 1.6 15,618 1.5 4,195 2.3 US Government agencies — — 95 1.8 43 2.8 12,608 1.8 US Government-sponsored agencies 30 2.8 789 2.2 2,988 2.5 4,968 1.8 UK Government 2,765 1.5 5,126 0.8 6,220 0.2 4,910 2.3 Hong Kong Government 84 1.6 247 1.6 167 1.8 — — Other governments 51,507 1.7 62,587 2.3 8,184 1.6 2,089 4.3 Asset-backed securities 18 2.9 93 1.4 399 1.8 2,199 1.2 Corporate debt and other securities 10,831 2.1 35,615 1.4 7,169 1.8 2,583 3.4 Total amortised cost at 31 Dec 2020 71,831 127,497 40,788 33,552 Total carrying value 72,250 131,859 42,168 35,190 Debt securities measured at amortised cost US Treasury 3,769 0.1 4,618 1.6 3,003 2.0 969 2.8 US Government agencies — — 9 3.8 13 4.5 7,084 2.6 US Government-sponsored agencies 110 2.5 258 2.7 436 2.2 1,112 3.3 Hong Kong Government 13 3.0 23 1.6 118 2.6 12 4.8 Other governments 179 3.4 370 4.1 426 3.8 1,011 4.2 Asset-backed securities — — — — — — 2 6.0 Corporate debt and other securities 2,064 3.3 11,221 3.4 15,441 3.4 24,621 3.8 Total amortised cost at 31 Dec 2020 6,135 16,499 19,437 34,811 Total carrying value 6,135 16,497 19,439 34,812 The maturity distributions of ABSs are presented in the above table on the basis of contractual maturity dates. The weighted average yield for each range of maturities is calculated by dividing the annualised interest income for the year ended 31 December 2020 by the book amount of debt securities at that date. The yields do not include the effect of related derivatives. HSBC Holdings HSBC Holdings carrying amount of financial investments 2020 2019 $m $m Debt instruments measured at amortised cost – treasury and other eligible bills 10,941 10,081 – debt securities 6,544 6,025 At 31 Dec 17,485 16,106 Financial investments at amortised cost and fair value 2020 2019 Amortised cost Fair value Amortised cost Fair value $m $m $m $m US Treasury 17,485 17,521 16,106 16,121 US Government agencies — — — — US Government-sponsored entities — — — — At 31 Dec 17,485 17,521 16,106 16,121 Maturities of investments in debt securities at their carrying amount Up to 1 year 1 to 5 years 5 to 10 years Over 10 years Total $m $m $m $m $m Debt securities measured at amortised cost 3,767 2,777 — — 6,544 At 31 Dec 2020 3,767 2,777 — — 6,544 Debt securities measured at amortised cost 3,010 3,015 — — 6,025 At 31 Dec 2019 3,010 3,015 — — 6,025 Contractual maturities and weighted average yields of investment debt securities Up to 1 year 1 to 5 years 5 to 10 years Over 10 years Amount Yield Amount Yield Amount Yield Amount Yield $m % $m % $m % $m % Debt securities measured at amortised cost US Treasury 3,767 1.5 2,777 0.3 — — — — US Government agencies — — — — — — — — US Government-sponsored agencies — — — — — — — — Total amortised cost at 31 Dec 2020 3,767 2,777 — — Total carrying value 3,767 2,777 — — 24 Financial liabilities designated at fair value HSBC 2020 2019 Footnotes $m $m Deposits by banks and customer accounts 1, 2 19,176 17,660 Liabilities to customers under investment contracts 6,385 5,893 Debt securities in issue (Note 25) 121,034 130,364 Subordinated liabilities (Note 28) 10,844 10,130 Preferred securities (Note 28) — 419 At 31 Dec 157,439 164,466 1 Structured deposits placed at HSBC Bank USA are insured by the Federal Deposit Insurance Corporation, a US government agency, up to $250,000 per depositor. HSBC Holdings 2020 2019 $m $m Debt securities in issue (Note 25) 19,624 24,687 Subordinated liabilities (Note 28) 6,040 5,616 At 31 Dec 25,664 30,303 29 Maturity analysis of assets, liabilities and off-balance sheet commitments The table on page 383 provides an analysis of consolidated total assets, liabilities and off-balance sheet commitments by residual contractual maturity at the balance sheet date. These balances are included in the maturity analysis as follows: • Trading assets and liabilities (including trading derivatives but excluding reverse repos, repos and debt securities in issue) are included in the ‘Due not more than 1 month’ time bucket, because trading balances are typically held for short periods of time. • Financial assets and liabilities with no contractual maturity (such as equity securities) are included in the ‘Due over 5 years’ time bucket. Undated or perpetual instruments are classified based on the contractual notice period, which the counterparty of the instrument is entitled to give. Where there is no contractual notice period, undated or perpetual contracts are included in the ‘Due over 5 years’ time bucket. • Non-financial assets and liabilities with no contractual maturity are included in the ‘Due over 5 years’ time bucket. • Financial instruments included within assets and liabilities of disposal groups held for sale are classified on the basis of the contractual maturity of the underlying instruments and not on the basis of the disposal transaction. • Liabilities under insurance contracts are included in the ‘Due over 5 years’ time bucket. Liabilities under investment contracts are classified in accordance with their contractual maturity. Undated investment contracts are included in the ‘Due over 5 years’ time bucket, although such contracts are subject to surrender and transfer options by the policyholders. • Loan and other credit-related commitments are classified on the basis of the earliest date they can be drawn down. HSBC Maturity analysis of assets, liabilities and off-balance sheet commitments Due not Due over Due over Due over Due over Due over Due over Due over Total $m $m $m $m $m $m $m $m $m Financial assets Cash and balances at central banks 304,481 — — — — — — — 304,481 Items in the course of collection from other banks 4,094 — — — — — — — 4,094 Hong Kong Government certificates of indebtedness 40,420 — — — — — — — 40,420 Trading assets 228,434 1,778 458 135 67 644 474 — 231,990 Financial assets designated or otherwise mandatorily measured at fair value 3,061 240 466 262 454 1,424 1,992 37,654 45,553 Derivatives 306,561 15 12 14 14 441 424 245 307,726 Loans and advances to banks 51,652 11,283 5,640 3,068 2,284 4,059 3,359 271 81,616 Loans and advances to customers 172,306 70,746 65,838 44,392 38,606 112,440 206,448 327,211 1,037,987 – personal 51,711 9,645 7,918 7,270 7,033 26,318 70,447 275,736 456,078 – corporate and commercial 101,684 55,009 51,755 31,529 28,553 76,225 125,393 47,446 517,594 – financial 18,911 6,092 6,165 5,593 3,020 9,897 10,608 4,029 64,315 Reverse repurchase agreements – non-trading 157,234 44,658 16,655 5,113 1,324 3,058 2,586 — 230,628 Financial investments 47,270 77,450 44,255 14,523 24,112 48,741 100,007 134,335 490,693 Accrued income and other financial assets 93,118 5,951 2,743 475 458 267 444 2,107 105,563 Financial assets at 31 Dec 2020 1,408,631 212,121 136,067 67,982 67,319 171,074 315,734 501,823 2,880,751 Non-financial assets — — — — — — — 103,413 103,413 Total assets at 31 Dec 2020 1,408,631 212,121 136,067 67,982 67,319 171,074 315,734 605,236 2,984,164 Off-balance sheet commitments received Loan and other credit-related commitments 60,849 — — — — — — — 60,849 Financial liabilities Hong Kong currency notes in circulation 40,420 — — — — — — — 40,420 Deposits by banks 60,973 1,396 714 695 197 718 16,757 630 82,080 Customer accounts 1 1,533,595 61,376 22,568 9,375 8,418 4,467 2,859 122 1,642,780 – personal 766,631 32,429 15,511 6,276 5,825 3,591 1,976 39 832,278 – corporate and commercial 588,887 22,856 5,963 2,966 2,058 627 777 37 624,171 – financial 178,077 6,091 1,094 133 535 249 106 46 186,331 Repurchase agreements – non-trading 102,633 3,979 2,165 386 675 16 1,035 1,012 111,901 Items in the course of transmission to other banks 4,343 — — — — — — — 4,343 Trading liabilities 70,799 3,377 400 143 185 289 72 1 75,266 Financial liabilities designated at 18,434 7,333 6,973 6,775 6,593 14,182 40,510 56,639 157,439 – debt securities in issue: covered bonds — — — — — 1,239 2,918 — 4,157 – debt securities in issue: unsecured 10,762 4,470 5,522 5,604 5,530 10,455 31,710 42,825 116,878 – subordinated liabilities and preferred securities — — — — — — 3,912 6,932 10,844 – other 2 7,672 2,863 1,451 1,171 1,063 2,488 1,970 6,882 25,560 Derivatives 300,902 264 198 38 55 237 726 581 303,001 Debt securities in issue 6,552 12,329 14,964 9,764 3,878 9,215 16,618 22,172 95,492 – covered bonds — — 28 — 750 1,275 999 — 3,052 – otherwise secured 1,094 1,585 1,001 1,000 — 274 1,640 1,590 8,184 – unsecured 5,458 10,744 13,935 8,764 3,128 7,666 13,979 20,582 84,256 Accruals and other financial liabilities 96,821 9,794 3,886 692 1,174 1,742 3,179 3,053 120,341 Subordinated liabilities 619 — 237 — 12 12 2,658 18,413 21,951 Total financial liabilities at 31 Dec 2020 2,236,091 99,848 52,105 27,868 21,187 30,878 84,414 102,623 2,655,014 Non-financial liabilities — — — — — — — 124,155 124,155 Total liabilities at 31 Dec 2020 2,236,091 99,848 52,105 27,868 21,187 30,878 84,414 226,778 2,779,169 Off-balance sheet commitments given Loan and other credit-related commitments 842,974 435 172 243 296 180 299 171 844,770 – personal 235,606 172 27 47 115 125 288 171 236,551 – corporate and commercial 471,410 250 138 194 178 37 11 — 472,218 – financial 135,958 13 7 2 3 18 — — 136,001 Maturity analysis of assets, liabilities and off-balance sheet commitments (continued) Due not Due over Due over Due over Due over Due over Due over Due over Total $m $m $m $m $m $m $m $m $m Financial assets Cash and balances at central banks 154,099 — — — — — — — 154,099 Items in the course of collection from other banks 4,956 — — — — — — — 4,956 Hong Kong Government certificates of indebtedness 38,380 — — — — — — — 38,380 Trading assets 252,009 644 412 62 452 152 540 — 254,271 Financial assets designated at fair value 4,846 74 381 200 422 780 2,356 34,568 43,627 Derivatives 241,941 150 24 27 22 112 294 425 242,995 Loans and advances to banks 41,554 7,826 4,877 2,592 2,859 6,848 2,005 642 69,203 Loans and advances to customers 190,675 82,379 61,254 36,005 36,755 106,203 227,811 295,661 1,036,743 – personal 51,893 14,547 8,562 7,245 6,931 22,923 66,761 252,275 431,137 – corporate and commercial 118,585 61,629 45,924 25,006 25,069 71,751 147,139 39,958 535,061 – financial 20,197 6,203 6,768 3,754 4,755 11,529 13,911 3,428 70,545 Reverse repurchase agreements 164,741 38,997 17,933 8,226 6,305 2,298 2,362 — 240,862 Financial investments 36,128 64,472 35,795 17,485 18,202 48,427 90,193 132,610 443,312 Accrued income and other financial assets 80,661 5,544 2,532 915 495 432 363 2,037 92,979 Financial assets at 31 Dec 2019 1,209,990 200,086 123,208 65,512 65,512 165,252 325,924 465,943 2,621,427 Non-financial assets — — — — — — — 93,725 93,725 Total assets at 31 Dec 2019 1,209,990 200,086 123,208 65,512 65,512 165,252 325,924 559,668 2,715,152 Off-balance sheet commitments received Loan and other credit-related commitments 63,199 — — — — — — — 63,199 Financial liabilities Hong Kong currency notes in circulation 38,380 — — — — — — — 38,380 Deposits by banks 46,397 4,167 2,773 454 844 2,455 876 1,056 59,022 Customer accounts 1 1,287,358 81,038 38,343 11,530 11,342 5,275 4,075 154 1,439,115 – personal 646,843 49,405 29,320 8,484 6,852 3,631 2,646 71 747,252 – corporate and commercial 479,763 24,214 7,162 2,621 3,009 1,119 1,388 41 519,317 – financial 160,752 7,419 1,861 425 1,481 525 41 42 172,546 Repurchase agreements – non-trading 132,042 3,402 1,579 1,882 59 354 2 1,024 140,344 Items in the course of transmission to other banks 4,817 — — — — — — — 4,817 Trading liabilities 82,130 209 265 148 102 287 29 — 83,170 Financial liabilities designated at fair value 12,844 4,667 4,236 4,552 5,196 26,081 43,534 63,356 164,466 – debt securities in issue: covered bonds — — — — 1,139 — 2,663 1,159 4,961 – debt securities in issue: unsecured 8,884 2,046 2,946 3,757 3,030 22,950 34,753 47,036 125,402 – subordinated liabilities and preferred securities 23 — — — — — 2,131 8,396 10,550 – other 3,937 2,621 1,290 795 1,027 3,131 3,987 6,765 23,553 Derivatives 237,901 105 73 10 18 68 540 782 239,497 Debt securities in issue 8,183 17,374 12,799 13,152 11,382 14,572 20,048 7,045 104,555 – covered bonds — — — — — 749 998 — 1,747 – otherwise secured 2,015 2 248 161 — 219 958 1,663 5,266 – unsecured 6,168 17,372 12,551 12,991 11,382 13,604 18,092 5,382 97,542 Accruals and other financial liabilities 87,796 9,078 3,914 1,244 2,058 1,592 2,823 2,890 111,395 Subordinated liabilities 1,502 — 22 1,993 100 755 424 19,804 24,600 Total financial liabilities at 31 Dec 2019 1,939,350 120,040 64,004 34,965 31,101 51,439 72,351 96,111 2,409,361 Non-financial liabilities — — — — — — — 113,123 113,123 Total liabilities at 31 Dec 2019 1,939,350 120,040 64,004 34,965 31,101 51,439 72,351 209,234 2,522,484 Off-balance sheet commitments given Loan and other credit-related commitments 794,336 600 590 313 551 442 458 318 797,608 – personal 221,952 40 39 56 167 208 392 299 223,153 – corporate and commercial 460,569 117 96 52 381 218 66 19 461,518 – financial 111,815 443 455 205 3 16 — — 112,937 1 ‘Customer accounts’ includes $463,524m (2019: $408,090m) insured by guarantee schemes. HSBC Holdings Maturity analysis of assets, liabilities and off-balance sheet commitments (continued) Due not Due over Due over Due over Due over Due over Due over Due over Total $m $m $m $m $m $m $m $m $m Financial assets Cash at bank and in hand: – balances with HSBC undertakings 2,913 — — — — — — — 2,913 Derivatives 1,473 — 5 — — 9 1,131 2,080 4,698 Loans and advances to HSBC undertakings — 600 120 — — 312 6,027 3,384 10,443 Financial assets with HSBC undertakings designated and otherwise mandatorily measured at fair value — 451 — — — 4,320 23,203 37,279 65,253 Financial investments 3,701 3,769 2,924 799 3,528 2,764 — — 17,485 Accrued income and other financial assets 1,015 275 100 33 22 — — — 1,445 Total financial assets at 31 Dec 2020 9,102 5,095 3,149 832 3,550 7,405 30,361 42,743 102,237 Non-financial assets — — — — — — — 160,936 160,936 Total assets at 31 Dec 2020 9,102 5,095 3,149 832 3,550 7,405 30,361 203,679 263,173 Financial liabilities Amounts owed to HSBC undertakings — 330 — — — — — — 330 Financial liabilities designated at fair value — 984 859 — — 3,088 3,810 16,923 25,664 – debt securities in issue — 984 859 — — 3,088 2,108 12,585 19,624 – subordinated liabilities and preferred securities — — — — — — 1,702 4,338 6,040 Derivatives 3,052 — — — — — — 8 3,060 Debt securities in issue — 503 1,621 563 — 2,186 24,489 34,667 64,029 Accruals and other financial liabilities 3,769 689 301 57 12 — 1 36 4,865 Subordinated liabilities — — — — — — 4,067 13,849 17,916 31 Dec 2020 6,821 2,506 2,781 620 12 5,274 32,367 65,483 115,864 Non-financial liabilities — — — — — — — 509 509 Total liabilities at 31 Dec 2020 6,821 2,506 2,781 620 12 5,274 32,367 65,992 116,373 Off-balance sheet commitments given Undrawn formal standby facilities, credit lines and other commitments to lend — — — — — — — — — Financial assets Cash at bank and in hand: – balances with HSBC undertakings 2,382 — — — — — — — 2,382 Derivatives 596 — — — — — 230 1,176 2,002 Loans and advances to HSBC undertakings 102 672 120 25 — 600 1,909 6,790 10,218 Loans and advances to HSBC undertakings designated at fair value — — — — — 458 24,845 36,661 61,964 Financial investments in HSBC undertakings 2,754 3,493 1,873 2,251 2,721 3,014 — — 16,106 Accrued income and other financial assets 93 277 97 48 16 12 — — 543 Total financial assets at 31 Dec 2019 5,927 4,442 2,090 2,324 2,737 4,084 26,984 44,627 93,215 Non-financial assets — — — — — — — 162,025 162,025 Total assets at 31 Dec 2019 5,927 4,442 2,090 2,324 2,737 4,084 26,984 206,652 255,240 Financial liabilities Amounts owed to HSBC undertakings — 464 — — — — — — 464 Financial liabilities designated at fair value — — — — — 5,651 6,710 17,942 30,303 – debt securities in issue — — — — — 5,651 6,710 12,326 24,687 – subordinated liabilities and preferred securities — — — — — — — 5,616 5,616 Derivatives 1,838 — — — — 20 85 78 2,021 Debt securities in issue — — — — — 10,134 23,786 22,924 56,844 Accruals and other financial liabilities 900 574 303 55 10 — — 35 1,877 Subordinated liabilities 1,503 — — — — — 2,076 14,782 18,361 Total financial liabilities at 31 Dec 2019 4,241 1,038 303 55 10 15,805 32,657 55,761 109,870 Non-financial liabilities — — — — — — — 326 326 Total liabilities at 31 Dec 2019 4,241 1,038 303 55 10 15,805 32,657 56,087 110,196 Off-balance sheet commitments given Undrawn formal standby facilities, credit lines and other commitments to lend — — — — — — — — — Contractual maturity of financial liabilities The following table shows, on an undiscounted basis, all cash flows relating to principal and future coupon payments (except for trading liabilities and derivatives not treated as hedging derivatives). For this reason, balances in the following table do not agree directly with those in our consolidated balance sheet. Undiscounted cash flows payable in relation to hedging derivative liabilities are classified according to their contractual maturities. Trading liabilities and derivatives not treated as hedging derivatives are included in the ‘Due not more than 1 month’ time bucket and not by contractual maturity. Cash flows payable by HSBC under financial liabilities by remaining contractual maturities Due not more Due over Due over Due over Due over 5 years Total $m $m $m $m $m $m Deposits by banks 61,001 1,442 1,639 17,352 632 82,066 Customer accounts 1,530,584 64,809 40,755 7,720 153 1,644,021 Repurchase agreements – non-trading 102,664 3,984 3,257 1,058 1,017 111,980 Trading liabilities 75,266 — — — — 75,266 Financial liabilities designated at fair value 1 18,815 7,556 19,243 59,835 55,475 160,924 Derivatives 300,158 356 579 1,830 2,128 305,051 Debt securities in issue 6,551 12,709 29,520 28,787 24,075 101,642 Subordinated liabilities 739 170 1,102 7,024 28,812 37,847 Other financial liabilities 140,094 9,120 5,113 5,030 2,887 162,244 2,235,872 100,146 101,208 128,636 115,179 2,681,041 Loan and other credit-related commitments 842,945 434 740 480 171 844,770 Financial guarantees 2 18,200 13 93 37 41 18,384 At 31 Dec 2020 3,097,017 100,593 102,041 129,153 115,391 3,544,195 Proportion of cash flows payable in period 87% 3% 3% 4% 3% Deposits by banks 46,471 4,167 4,227 3,371 1,084 59,320 Customer accounts 1,288,577 81,037 62,105 9,900 191 1,441,810 Repurchase agreements – non-trading 132,156 3,403 3,565 368 1,036 140,528 Trading liabilities 83,170 — — — — 83,170 Financial liabilities designated at fair value 13,447 4,666 14,747 76,155 68,045 177,060 Derivatives 237,897 105 522 1,076 1,691 241,291 Debt securities in issue 8,757 17,374 38,423 36,584 8,177 109,315 Subordinated liabilities 1,847 — 2,908 5,197 27,892 37,844 Other financial liabilities 127,898 9,079 6,792 5,637 2,992 152,398 1,940,220 119,831 133,289 138,288 111,108 2,442,736 Loan and other credit-related commitments 795,243 601 561 886 317 797,608 Financial guarantees 2 20,007 37 102 68 — 20,214 At 31 Dec 2019 2,755,470 120,469 133,952 139,242 111,425 3,260,558 Proportion of cash flows payable in period 85% 4% 4% 4% 3% 1 In 2020, cash prime brokerage balances of $3,889m have been presented as a single balance, resulting in a reclassification from customer accounts at amortised cost to provide more relevant information on the effect of these transactions on the Group’s financial position. Comparatives have not been re-presented. HSBC Holdings HSBC Holdings’ primary sources of liquidity are dividends received from subsidiaries, interest on and repayment of intra-Group loans and securities, and interest earned on its own liquid funds. HSBC Holdings also raises funds in the debt capital markets to meet the Group’s minimum requirement for own funds and eligible liabilities. HSBC Holdings uses this liquidity to meet its obligations, including interest and principal repayments on external debt liabilities, operating expenses and collateral on derivative transactions. HSBC Holdings is also subject to contingent liquidity risk by virtue of credit-related commitments and guarantees and similar contracts issued relating to its subsidiaries. Such commitments and guarantees are only issued after due consideration of HSBC Holdings’ ability to finance the commitments and guarantees and the likelihood of the need arising. HSBC Holdings actively manages the cash flows from its subsidiaries to optimise the amount of cash held at the holding company level. During 2020, consistent with the Group’s capital plan, the Group’s subsidiaries did not experience any significant restrictions on paying dividends or repaying loans and advances. Also, there are no foreseen restrictions envisaged with regard to planned dividends or payments. However, the ability of subsidiaries to pay dividends or advance monies to HSBC Holdings depends on, among other things, their respective local regulatory capital and banking requirements, exchange controls, statutory reserves, and financial and operating performance. HSBC Holdings currently has sufficient liquidity to meet its present requirements. Liquidity risk in HSBC Holdings is overseen by Holdings ALCO. This risk arises because of HSBC Holdings’ obligation to make payments to debt holders as they fall due and to pay its operating expenses. The liquidity risk related to these cash flows is managed by matching external debt obligations with internal loan cash flows and by maintaining an appropriate liquidity buffer that is monitored by Holdings ALCO. The balances in the following table are not directly comparable with those on the balance sheet of HSBC Holdings as the table incorporates, on an undiscounted basis, all cash flows relating to principal and future coupon payments (except for derivatives not treated as hedging derivatives). Undiscounted cash flows payable in relation to hedging derivative liabilities are classified according to their contractual maturities. Derivatives not treated as hedging derivatives are included in the ‘On demand’ time bucket. In addition, loan commitments and financial guarantees and similar contracts are generally not recognised on our balance sheet. The undiscounted cash flows potentially payable under financial guarantees and similar contracts are classified on the basis of the earliest date on which they can be called. Cash flows payable by HSBC Holdings under financial liabilities by remaining contractual maturities Due not more Due over 1 Due over 3 Due over 1 Due over Total Footnotes $m $m $m $m $m $m Amounts owed to HSBC undertakings — 330 — — — 330 Financial liabilities designated at fair value 70 1,109 1,412 9,110 16,104 27,805 Derivatives 3,085 — 2 — — 3,087 Debt securities in issue 135 760 3,354 31,567 37,103 72,919 Subordinated liabilities 82 156 726 7,513 21,552 30,029 Other financial liabilities 3,769 690 370 — 36 4,865 7,141 3,045 5,864 48,190 74,795 139,035 Loan commitments — — — — — — Financial guarantees 1 13,787 — — — — 13,787 At 31 Dec 2020 20,928 3,045 5,864 48,190 74,795 152,822 Amounts owed to HSBC undertakings — 464 — — — 464 Financial liabilities designated at fair value 88 168 784 14,776 18,184 34,000 Derivatives 1,838 — — 105 78 2,021 Debt securities in issue 128 244 1,137 38,690 25,310 65,509 Subordinated liabilities 1,588 154 718 5,743 21,533 29,736 Other financial liabilities 956 519 365 — — 1,840 4,598 1,549 3,004 59,314 65,105 133,570 Loan commitments — — — — — — Financial guarantees 1 11,061 — — — — 11,061 At 31 Dec 2019 15,659 1,549 3,004 59,314 65,105 144,631 1 Excludes performance guarantee contracts to which the impairment requirements in IFRS 9 are not applied. 30 Offsetting of financial assets and financial liabilities In the following table, the ‘Amounts not set off in the balance sheet’ include transactions where: • the counterparty has an offsetting exposure with HSBC and a master netting or similar arrangement is in place with a right to set off only in the event of default, insolvency or bankruptcy, or the offset criteria are otherwise not satisfied; and • in the case of derivatives and reverse repurchase/repurchase, stock borrowing/lending and similar agreements, cash and non-cash collateral has been received/pledged. For risk management purposes, the net amounts of loans and advances to customers are subject to limits, which are monitored and the relevant customer agreements are subject to review and updated, as necessary, to ensure the legal right to set off remains appropriate. Offsetting of financial assets and financial liabilities Amounts subject to enforceable netting arrangements Amounts not subject to enforceable netting arrangements 5 Total Amounts not set off in the Gross Amounts Net Financial Non-cash Cash Net Footnotes $m $m $m $m $m $m $m $m $m Financial assets Derivatives (Note 15) 1 368,057 (69,103) 298,954 (230,758) (13,766) (48,154) 6,276 8,772 307,726 Reverse repos, stock borrowing and similar agreements classified as: 2 – trading assets 21,204 (461) 20,743 (709) (20,030) — 4 1,534 22,277 – non-trading assets 318,424 (115,678) 202,746 (13,936) (188,646) (73) 91 28,258 231,004 Loans and advances to customers 3 30,983 (10,882) 20,101 (17,031) — — 3,070 428 20,529 At 31 Dec 2020 738,668 (196,124) 542,544 (262,434) (222,442) (48,227) 9,441 38,992 581,536 Derivatives (Note 15) 1 277,261 (41,739) 235,522 (171,371) (13,095) (47,404) 3,652 7,473 242,995 Reverse repos, stock borrowing and similar agreements classified as: 2 – trading assets 21,465 (280) 21,185 (1,553) (19,630) — 2 165 21,350 – non-trading assets 348,561 (134,772) 213,789 (28,826) (184,495) (189) 279 27,549 241,338 Loans and advances to customers 3 33,039 (10,128) 22,911 (18,893) — — 4,018 735 23,646 At 31 Dec 2019 680,326 (186,919) 493,407 (220,643) (217,220) (47,593) 7,951 35,922 529,329 Financial liabilities Derivatives (Note 15) 1 364,121 (69,103) 295,018 (230,758) (21,387) (37,343) 5,530 7,983 303,001 Repos, stock lending and similar agreements classified as: 2 – trading liabilities 16,626 (461) 16,165 (709) (15,456) — — 159 16,324 – non-trading liabilities 200,999 (115,678) 85,321 (13,936) (71,142) (215) 28 26,580 111,901 Customer accounts 4 41,177 (10,882) 30,295 (17,031) — — 13,264 13 30,308 At 31 Dec 2020 622,923 (196,124) 426,799 (262,434) (107,985) (37,558) 18,822 34,735 461,534 Derivatives (Note 15) 1 275,286 (41,739) 233,547 (171,371) (20,137) (37,844) 4,195 5,950 239,497 Repos, stock lending and similar agreements classified as: 2 – trading liabilities 10,494 (280) 10,214 (1,553) (8,656) — 5 46 10,260 – non-trading liabilities 232,675 (134,772) 97,903 (28,826) (68,638) (357) 82 42,441 140,344 Customer accounts 4 36,750 (10,128) 26,622 (18,893) — — 7,729 31 26,653 At 31 Dec 2019 555,205 (186,919) 368,286 (220,643) (97,431) (38,201) 12,011 48,468 416,754 1 At 31 December 2020, the amount of cash margin received that had been offset against the gross derivatives assets was $7,899m (2019: $2,350m). The amount of cash margin paid that had been offset against the gross derivatives liabilities was $17,955m (2019: $8,303m). 2 For the amount of repos, reverse repos, stock lending, stock borrowing and similar agreements recognised on the balance sheet within ‘Trading assets’ $22,277m (2019: $21,350m) and ‘Trading liabilities’ $16,324m (2019: $10,260m), see the ‘Funding sources and uses’ table on page 220. 3 At 31 December 2020, the total amount of ‘Loans and advances to customers’ was $1,037,987m (2019: $1,036,743m), of which $20,101m (2019: $22,911m) was subject to offsetting. 4 At 31 December 2020, the total amount of ‘Customer accounts’ was $1,642,780m (2019: $1,439,115m), of which $30,295m (2019: $26,622m) was subject to offsetting. 5 These exposures continue to be secured by financial collateral, but we may not have sought or been able to obtain a legal opinion evidencing enforceability of the right of offset. |
Called up share capital and oth
Called up share capital and other equity instruments | 12 Months Ended |
Dec. 31, 2020 | |
Share Capital, Reserves And Other Equity Interest [Abstract] | |
Called up share capital and other equity instruments | 31 Called up share capital and other equity instruments Called up share capital and share premium HSBC Holdings ordinary shares of $0.50 each, issued and fully paid 2020 2019 Footnotes Number $m Number $m At 1 Jan 20,638,524,545 10,319 20,360,841,496 10,180 Shares issued under HSBC employee share plans 55,096,555 28 71,588,032 36 Shares issued in lieu of dividends — — 341,872,011 171 Less: Shares repurchased and cancelled — — (135,776,994) (68) At 31 Dec 1 20,693,621,100 10,347 20,638,524,545 10,319 HSBC Holdings 6.2% non-cumulative US dollar preference shares, Series A 2020 2019 Footnotes Number $m Number $m At 1 Jan and 31 Dec 2 1,450,000 — 1,450,000 — HSBC Holdings share premium 2020 2019 $m $m At 31 Dec 14,277 13,959 Total called up share capital and share premium 2020 2019 $m $m At 31 Dec 24,624 24,278 1 All HSBC Holdings ordinary shares in issue, excluding 325,273,407 shares held in treasury, confer identical rights, including in respect of capital, dividends and voting. 2 In 2019 this security was included in the capital base of HSBC as additional tier 1 capital in accordance with the CRR II rules, by virtue of the application of grandfathering provisions. This security was called by HSBC Holdings on 10 December 2020 and was redeemed and cancelled on 13 January 2021. Between the date of exercise of the call option and the redemption, this security was considered as an other liability. HSBC Holdings 6.20% non-cumulative US dollar preference shares, Series A of $0.01 The 6.20% non-cumulative US dollar preference shares, Series A of $0.01 each were redeemed on 13 January 2021. HSBC Holdings non-cumulative preference share of £0.01 The one non-cumulative sterling preference share of £0.01 (‘sterling preference share’) has been in issue since 29 December 2010 and is held by a subsidiary of HSBC Holdings. Dividends are paid quarterly at the sole and absolute discretion of the Board. The sterling preference share carries no rights of conversion into ordinary shares of HSBC Holdings and no right to attend or vote at shareholder meetings of HSBC Holdings. These securities can be redeemed by HSBC Holdings at any time, subject to prior approval by the PRA. Other equity instruments HSBC Holdings includes three types of additional tier 1 capital securities in its tier 1 capital. Two are presented in this Note and they are the HSBC Holdings non-cumulative preference shares outlined above and the contingent convertible securities described below. These are accounted for as equity because HSBC does not have an obligation to transfer cash or a variable number of its own ordinary shares to holders under any circumstances outside its control. See Note 28 for additional tier 1 securities accounted for as liabilities. Additional tier 1 capital – contingent convertible securities HSBC Holdings continues to issue contingent convertible securities that are included in its capital base as fully CRR II-compliant additional tier 1 capital securities on an end point basis. These securities are marketed principally and subsequently allotted to corporate investors and fund managers. The net proceeds of the issuances are typically used for HSBC Holdings’ general corporate purposes and to further strengthen its capital base to meet requirements under CRR II. These securities bear a fixed rate of interest until their initial call dates. After the initial call dates, if they are not redeemed, the securities will bear interest at rates fixed periodically in advance for five-year periods based on credit spreads, fixed at issuance, above prevailing market rates. Interest on the contingent convertible securities will be due and payable only at the sole discretion of HSBC Holdings, and HSBC Holdings has sole and absolute discretion at all times to cancel for any reason (in whole or part) any interest payment that would otherwise be payable on any payment date. Distributions will not be paid if they are prohibited under UK banking regulations or if the Group has insufficient reserves or fails to meet the solvency conditions defined in the securities’ terms. The contingent convertible securities are undated and are repayable at the option of HSBC Holdings in whole typically at the initial call date or on any fifth anniversary after this date. In addition, the securities are repayable at the option of HSBC in whole for certain regulatory or tax reasons. Any repayments require the prior consent of the PRA. These securities rank pari passu with HSBC Holdings’ sterling preference shares and therefore rank ahead of ordinary shares. The contingent convertible securities will be converted into fully paid ordinary shares of HSBC Holdings at a predetermined price, should HSBC’s consolidated non-transitional CET1 ratio fall below 7.0%. Therefore, in accordance with the terms of the securities, if the non-transitional CET1 ratio breaches the 7.0% trigger, the securities will convert into ordinary shares at fixed contractual conversion prices in the issuance currencies of the relevant securities, equivalent to £2.70 at the prevailing rate of exchange on the issuance date, subject to anti-dilution adjustments. HSBC’s additional tier 1 capital – contingent convertible securities in issue which are accounted for in equity First call 2020 2019 Footnotes $m $m $1,500m 5.625% perpetual subordinated contingent convertible securities 1 Nov 2019 — 1,494 $2,000m 6.875% perpetual subordinated contingent convertible securities Jun 2021 2,000 1,998 $2,250m 6.375% perpetual subordinated contingent convertible securities Sep 2024 2,250 2,244 $2,450m 6.375% perpetual subordinated contingent convertible securities Mar 2025 2,450 2,460 $3,000m 6.000% perpetual subordinated contingent convertible securities May 2027 3,000 2,997 $2,350m 6.250% perpetual subordinated contingent convertible securities Mar 2023 2,350 2,347 $1,800m 6.500% perpetual subordinated contingent convertible securities Mar 2028 1,800 1,798 $1,500m 4.600% perpetual subordinated contingent convertible securities 2 Jun 2031 1,500 — €1,500m 5.250% perpetual subordinated contingent convertible securities Sep 2022 1,945 1,943 €1,000m 6.000% perpetual subordinated contingent convertible securities Sep 2023 1,123 1,120 €1,250m 4.750% perpetual subordinated contingent convertible securities Jul 2029 1,422 1,420 £1,000m 5.875% perpetual subordinated contingent convertible securities Sep 2026 1,301 1,299 SGD1,000m 4.700% perpetual subordinated contingent convertible securities Jun 2022 723 723 SGD750m 5.000% perpetual subordinated contingent convertible securities Sep 2023 550 549 At 31 Dec 22,414 22,392 1 This security was called by HSBC Holdings on 22 November 2019 and was redeemed and cancelled on 17 January 2020. Between the date of exercise of the call option and the redemption, this security was considered to be a subordinated liability. See Note 28. 2 This security was issued by HSBC Holdings on 17 December 2020. The first call date commences six calendar months prior to the reset date of Shares under option For details of the options outstanding to subscribe for HSBC Holdings ordinary shares under the HSBC Holdings Savings-Related Share Option Plan (UK), see Note 5. Aggregate options outstanding under these plans 31 Dec 2020 31 Dec 2019 Number of HSBC Holdings ordinary shares Usual period of exercise Exercise price Number of Usual period of exercise Exercise price 130,952,539 2019 to 2026 £2.6270–£5.9640 65,060,681 2018 to 2025 £4.0472–£5.9640 Maximum obligation to deliver HSBC Holdings ordinary shares At 31 December 2020, the maximum obligation to deliver HSBC Holdings ordinary shares under all of the above option arrangements and the HSBC International Employee Share Purchase Plan, together with GPSP awards, long-term incentive awards and deferred share awards granted under the HSBC Share Plan 2011, was 238,278,952 (2019: 163,567,253). The total number of shares at 31 December 2020 held by employee benefit trusts that may be used to satisfy such obligations to deliver HSBC Holdings ordinary shares was 5,179,531 (2019: 5,397,395). |
Contingent liabilities, contrac
Contingent liabilities, contractual commitments and guarantees | 12 Months Ended |
Dec. 31, 2020 | |
Other Provisions, Contingent Liabilities And Contingent Assets [Abstract] | |
Contingent liabilities, contractual commitments and guarantees | 32 Contingent liabilities, contractual commitments and guarantees HSBC HSBC Holdings 1 2020 2019 2020 2019 Footnotes $m $m $m $m Guarantees and other contingent liabilities: – financial guarantees 18,384 20,214 13,787 11,061 – performance and other guarantees 78,114 75,933 — — – other contingent liabilities 1,219 1,576 119 289 At 31 Dec 97,717 97,723 13,906 11,350 Commitments: 2 – documentary credits and short-term trade-related transactions 7,178 6,316 — — – forward asset purchases and forward deposits placed 66,506 56,326 — — – standby facilities, credit lines and other commitments to lend 771,086 734,966 — — At 31 Dec 844,770 797,608 — — 1 Guarantees by HSBC Holdings are all in favour of other Group entities. 2 Includes $659,783m of commitments at 31 December 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 27. The majority of the guarantees have a term of less than one year, while guarantees with terms of more than one year are subject to HSBC’s annual credit review process. Contingent liabilities arising from legal proceedings, regulatory and other matters against Group companies are excluded from this note but are disclosed in Notes 27 and 34. Financial Services Compensation Scheme The Financial Services Compensation Scheme (‘FSCS’) provides compensation, up to certain limits, to eligible customers of financial services firms that are unable, or likely to be unable, to pay claims against them. The FSCS may impose a further levy on the Group to the extent the industry levies imposed to date are not sufficient to cover the compensation due to customers in any future possible collapse. The ultimate FSCS levy to the industry as a result of a collapse cannot currently be estimated reliably. It is dependent on various uncertain factors including the potential recoveries of assets by the FSCS, changes in the level of protected products (including deposits and investments) and the population of FSCS members at the time. Associates HSBC’s share of associates’ contingent liabilities, contractual commitments and guarantees amounted to $53.1bn at 31 December 2020 (2019: $46.7bn). No matters arose where HSBC was severally liable. |
Finance lease receivables
Finance lease receivables | 12 Months Ended |
Dec. 31, 2020 | |
Leases1 [Abstract] | |
Finance lease receivables | 33 Finance lease receivables HSBC leases a variety of assets to third parties under finance leases, including transport assets (such as aircraft), property and general plant and machinery. At the end of lease terms, assets may be sold to third parties or leased for further terms. Rentals are calculated to recover the cost of assets less their residual value, and earn finance income. 2020 2019 Total future Unearned Present Total future minimum payments Unearned finance income Present value $m $m $m $m $m $m Lease receivables: No later than one year 3,108 (257) 2,851 1,674 (157) 1,517 One to two years 2,476 (196) 2,280 1,634 (155) 1,479 Two to three years 2,055 (143) 1,912 1,889 (151) 1,738 Three to four years 1,380 (109) 1,271 1,704 (136) 1,568 Four to five years 787 (80) 707 1,558 (132) 1,426 Later than one year and no later than five years 6,698 (528) 6,170 6,785 (574) 6,211 Later than five years 4,221 (451) 3,770 6,136 (614) 5,522 At 31 Dec 14,027 (1,236) 12,791 14,595 (1,345) 13,250 |
Legal proceedings and regulator
Legal proceedings and regulatory matters | 12 Months Ended |
Dec. 31, 2020 | |
Other Provisions, Contingent Liabilities And Contingent Assets [Abstract] | |
Legal proceedings and regulatory matters | 34 Legal proceedings and regulatory matters HSBC is party to legal proceedings and regulatory matters in a number of jurisdictions arising out of its normal business operations. Apart from the matters described below, HSBC considers that none of these matters are material. The recognition of provisions is determined in accordance with the accounting policies set out in Note 1 . While the 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 31 December 2020 (see Note 27). Where an individual provision is material, the fact that a provision has been made is stated and quantified, except to the extent that doing so would be seriously prejudicial. Any provision recognised does not constitute an admission of wrongdoing or legal liability. It is not practicable to provide an aggregate estimate of potential liability for our legal proceedings and regulatory matters as a class of contingent liabilities. Bernard L. Madoff Investment Securities LLC Bernard L. Madoff (‘Madoff’) was arrested in December 2008 and later pleaded guilty to running a Ponzi scheme. His firm, Bernard L. Madoff Investment Securities LLC (‘Madoff Securities’), is being liquidated in the US by a trustee (the ‘Trustee’). Various non-US HSBC companies provided custodial, administration and similar services to a number of funds incorporated outside the US whose assets were invested with Madoff Securities. Based on information provided by Madoff Securities as at 30 November 2008, the purported aggregate value of these funds was $8.4bn, including fictitious profits reported by Madoff. Based on information available to HSBC, the funds’ actual transfers to Madoff Securities minus their actual withdrawals from Madoff Securities during the time HSBC serviced the funds are estimated to have totalled approximately $4bn. Various HSBC companies have been named as defendants in lawsuits arising out of Madoff Securities’ fraud. US litigation: The 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, and certain claims against the remaining HSBC defendants, were 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. In December 2020, the US Bankruptcy Court granted in part and denied in part the defendants’ motion. This action remains pending in the US Bankruptcy Court and the New York District Court. UK litigation: The Trustee has filed a claim against various HSBC companies in the High Court of England and Wales, seeking recovery of transfers from Madoff Securities to HSBC in an amount not yet pleaded or determined. The deadline for service of the claim has been extended to September 2021 for UK-based defendants and November 2021 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 first of two possible hearings 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, which will resume in April 2021. 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, HSBC Holdings entered into a number of agreements, including an undertaking with the UK Financial Services Authority (replaced with a Direction issued by the UK Financial Conduct Authority (‘FCA’) in 2013 and again in 2020) as well as a cease-and-desist order with the US Federal Reserve Board (‘FRB’), both of which contained certain forward-looking anti-money laundering (‘AML’) and sanctions-related obligations. HSBC also agreed to retain an independent compliance monitor (who was, 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. In 2020, HSBC’s engagement with the independent compliance monitor, acting in his roles as both Skilled Person and Independent Consultant, concluded. The role of FCA Skilled Person was assigned to a new individual in the second quarter of 2020. Separately, a new FRB Independent Consultant will be appointed pursuant to the cease-and-desist order. The roles of each of the FCA Skilled Person and the FRB Independent Consultant are discussed on page 230. The FCA is 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 continues to cooperate with the FCA’s investigation, which is at or nearing completion. 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 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. In October 2020, the appellate court affirmed the dismissal of one of the actions on appeal. An appeal remains pending in another case, and plaintiffs are seeking certification to appeal in the third case. HSBC filed motions to dismiss in three further cases, with two of the motions granted in June 2020, and the third granted in November 2020. These dismissals are subject to appeal. The four remaining actions are at a very early stage. There are many factors that may affect the range of outcomes, and the resulting financial impact, of these matters, which could be significant. 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 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; persons who purchased US dollar Libor-indexed interest rate swaps and other instruments directly from the defendant banks and their affiliates; 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. The New York District Court has granted final approval of each of the five referenced settlements. 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. This matter is on appeal. Singapore interbank offered rate (‘Sibor’), Singapore swap offer rate (‘SOR’) and Australia bank bill swap rate (‘BBSW’): 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 Since at least 2014, the EC has been conducting an investigation into trading activities by a number of banks, including HSBC, in the foreign exchange spot market. HSBC is cooperating with this investigation. In January 2021, HSBC Holdings exited its three 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 August 2020, HSBC Bank plc and HSBC Bank USA filed an application to dismiss the revised complaint, which remains pending. 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. In November 2020, the New York District Court granted final approval of the settlement. 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 August 2020, HSBC Bank plc filed a motion to dismiss and, in January 2021, HSBC Holdings filed a motion seeking to challenge the service of the motion for certification on defendants outside Israel. These motions remain pending. In November and December 2018, complaints alleging foreign exchange-related misconduct were filed in the New York District Court and the High Court of England and Wales against HSBC and other defendants by certain plaintiffs that opted out of the US class action settlement. In May 2020, the New York District 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. In October 2020, HSBC reached a settlement in principle with the plaintiffs to resolve the consolidated action. The settlement remains subject to court approval. Beginning in December 2015, numerous putative class actions under Canadian law were filed in the Ontario and Quebec Superior Courts of Justice against various HSBC companies and other financial institutions. The plaintiffs allege that, among other things, from January 2004 to March 2014, the defendants conspired to manipulate the price of gold and gold derivatives in violation of the Canadian Competition Act and common law. These actions are ongoing. Silver: Beginning in July 2014, numerous putative class actions were filed in federal district courts in New York, naming HSBC and other members of The London Silver Market Fixing Limited as defendants. The complaints 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. These actions are ongoing. Platinum and palladium: Between late 2014 and early 2015, numerous putative class actions were filed in the New York District Court, naming HSBC and other members of The London Platinum and Palladium Fixing Company Limited as defendants. The complaints allege that, from January 2008 to November 2014, the defendants conspired to manipulate the price of platinum group metals (‘PGM’) and PGM-based financial products for their collective benefit in violation of US antitrust laws and the US CEA. In March 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 the development of such schemes. 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. The claimants failed to serve the claim on time, and this claim has now lapsed. 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 film finance schemes. This application was dismissed by the court in November 2020. 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 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; • a putative class action brought in the New York District Court relating to the Mexican government bond market; • two group actions pending in the US courts and a claim issued in the High Court of England and Wales in connection with HSBC Bank plc’s role as a correspondent bank to Stanford International Bank Ltd from 2003 to 2009; and • litigation brought against various HSBC companies in the US courts relating to residential mortgage-backed securities, based primarily on (a) claims brought against HSBC Bank USA in connection with its role as trustee on behalf of various securitisation trusts; and (b) claims against several HSBC companies seeking that the defendants repurchase various mortgage loans. There are many factors that may affect the range of outcomes, and the resulting financial impact, of these matters, which could be significant. |
Related party transactions
Related party transactions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2018 | |
Related Party [Abstract] | ||
Related party transactions | 35 Related party transactions Related parties of the Group and HSBC Holdings include subsidiaries, associates, joint ventures, post-employment benefit plans for HSBC employees, Key Management Personnel (‘KMP’) as defined by IAS 24, close family members of KMP and entities that are controlled or jointly controlled by KMP or their close family members. KMP are defined as those persons having authority and responsibility for planning, directing and controlling the activities of HSBC Holdings. These individuals also constitute ‘senior management’ for the purposes of the Hong Kong Listing Rules. In applying IAS 24, it was determined that for this financial reporting period all KMP included Directors, former Directors and senior management listed on pages 240 to 245 and that the roles of Chief Legal Officer, Group Head of Audit, Group Chief Human Resources Officer, Group Chief Compliance Officer, Group Company Secretary and Chief Governance Officer did not meet the criteria for KMP as provided for in the standard. Particulars of transactions with related parties are tabulated below. The disclosure of the year-end balance and the highest amounts outstanding during the year is considered to be the most meaningful information to represent the amount of the transactions and outstanding balances during the year. Key Management Personnel Details of Directors’ remuneration and interest in shares are disclosed in the ‘Directors’ remuneration report’ on pages 271 to 298. IAS 24 ‘Related party disclosures’ requires the following additional information for key management compensation. Compensation of Key Management Personnel 2020 2019 2018 $m $m $m Short-term employee benefits 39 64 52 Other long-term employee benefits 5 8 6 Share-based payments 20 27 34 Year ended 31 Dec 64 99 92 Shareholdings, options and other securities of Key Management Personnel 2020 2019 (000s) (000s) Number of options held over HSBC Holdings ordinary shares under employee share plans 27 18 Number of HSBC Holdings ordinary shares held beneficially and non-beneficially 11,916 15,546 At 31 Dec 11,943 15,564 Advances and credits, guarantees and deposit balances during the year with Key Management Personnel 2020 2019 Balance at Highest amounts Balance at 31 Dec Highest amounts outstanding during year Footnotes $m $m $m $m Key Management Personnel Advances and credits 1 221 357 283 328 Guarantees 30 55 34 34 Deposits 281 874 268 659 1 Advances and credits entered into by subsidiaries of HSBC Holdings plc during 2020 with Directors and former Directors, disclosed pursuant to section 413 of the Companies Act 2006, totalled $4.7m (2019: $3m). Some of the transactions were connected transactions as defined by the Rules Governing The Listing of Securities on The Stock Exchange of Hong Kong Limited, but were exempt from any disclosure requirements under the provisions of those rules. The above transactions were made in the ordinary course of business and on substantially the same terms, including interest rates and security, as for comparable transactions with persons of a similar standing or, where applicable, with other employees. The transactions did not involve more than the normal risk of repayment or present other unfavourable features. Associates and joint ventures The Group provides certain banking and financial services to associates and joint ventures including loans, overdrafts, interest and non-interest bearing deposits and current accounts. Details of the interests in associates and joint ventures are given in Note 18. Transactions and balances during the year with associates and joint ventures 2020 2019 Highest balance Balance at Highest balance Balance at $m $m $m $m Unsubordinated amounts due from joint ventures 147 147 132 123 Unsubordinated amounts due from associates 4,330 2,942 4,554 2,054 Amounts due to associates 5,466 2,226 2,517 516 Amounts due to joint ventures 102 102 28 28 Guarantees and commitments 433 283 647 407 The above outstanding balances arose in the ordinary course of business and on substantially the same terms, including interest rates and security, as for comparable transactions with third-party counterparties. Post-employment benefit plans At 31 December 2020, $3.5bn (2019: $3.9bn re-presented) of HSBC post-employment benefit plan assets were under management by HSBC companies, earning management fees of $13m in 2020 (2019: $8m). The 2019 plan assets under management by HSBC companies have been re-presented to exclude $1.5bn of assets identified to be managed by third parties. At 31 December 2020, HSBC’s post-employment benefit plans had placed deposits of $452m (2019: $530m) with its banking subsidiaries, earning interest payable to the schemes of nil (2019: $0.3m). The above outstanding balances arose from the ordinary course of business and on substantially the same terms, including interest rates and security, as for comparable transactions with third-party counterparties. The combined HSBC Bank (UK) Pension Scheme enters into swap transactions with HSBC to manage inflation and interest rate sensitivity of its liabilities and selected assets. At 31 December 2020, the gross notional value of the swaps was $7.7bn (2019: $9.9bn); these swaps had a positive fair value to the scheme of $1.0bn (2019: $1.2bn); and HSBC had delivered collateral of $1.0bn (2019: $1.2bn) to the scheme in respect of these arrangements. All swaps were executed at prevailing market rates and within standard market bid/offer spreads. HSBC Holdings Details of HSBC Holdings’ subsidiaries are shown in Note 37. Transactions and balances during the year with subsidiaries 2020 2019 Highest balance during the year Balance at Highest balance Balance at $m $m $m $m Assets Cash and balances with HSBC undertakings 5,476 2,913 5,029 2,382 Financial assets with HSBC undertakings designated and otherwise mandatorily measured at fair value 65,253 65,253 61,964 61,964 Derivatives 5,784 4,698 3,902 2,002 Loans and advances to HSBC undertakings 10,785 10,443 43,436 10,218 Prepayments, accrued income and other assets 1,838 1,363 655 480 Investments in subsidiaries 161,546 160,660 163,258 161,473 Total related party assets at 31 Dec 250,682 245,330 278,244 238,519 Liabilities Amounts owed to HSBC undertakings 581 330 1,553 464 Derivatives 3,376 3,060 2,183 2,021 Accruals, deferred income and other liabilities 2,737 1,936 — — Subordinated liabilities 892 892 892 892 Total related party liabilities at 31 Dec 7,586 6,218 4,628 3,377 Guarantees and commitments 15,661 13,787 11,541 11,061 The above outstanding balances arose in the ordinary course of business and on substantially the same terms, including interest rates and security, as for comparable transactions with third-party counterparties. Some employees of HSBC Holdings are members of the HSBC Bank (UK) Pension Scheme, which is sponsored by a separate Group company. HSBC Holdings incurs a charge for these employees equal to the contributions paid into the scheme on their behalf. Disclosure in relation to the scheme is made in Note 5. | Compensation of Key Management Personnel 2020 2019 2018 $m $m $m Short-term employee benefits 39 64 52 Other long-term employee benefits 5 8 6 Share-based payments 20 27 34 Year ended 31 Dec 64 99 92 |
Events after the balance sheet
Events after the balance sheet date | 12 Months Ended |
Dec. 31, 2020 | |
Events After Reporting Period [Abstract] | |
Events after the balance sheet date | 36 Events after the balance sheet date . |
HSBC Holdings' subsidiaries, jo
HSBC Holdings' subsidiaries, joint ventures and associates | 12 Months Ended |
Dec. 31, 2020 | |
Interests In Other Entities [Abstract] | |
HSBC Holdings' subsidiaries, joint ventures and associates | 18 Interests in associates and joint ventures Carrying amount of HSBC’s interests in associates and joint ventures 2020 2019 $m $m Interests in associates 26,594 24,384 Interests in joint ventures 90 90 Interests in associates and joint ventures 26,684 24,474 Principal associates of HSBC 2020 2019 Carrying amount Fair value 1 Carrying amount Fair value 1 $m $m $m $m Bank of Communications Co., Limited 21,248 7,457 18,982 10,054 The Saudi British Bank 4,215 4,197 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). At 31 Dec 2020 Footnotes Country of incorporation Principal HSBC’s Bank of Communications Co., Limited People’s Republic of China Banking services 19.03 The Saudi British Bank 1 Saudi Arabia Banking services 31.00 1 In December 2020, HSBC purchased additional shares and increased its shareholding in The Saudi British Bank (‘SABB’) from 29.2% to 31.0%. SABB will continue to be accounted for as an associate of HSBC. A list of all associates and joint ventures is set out in Note 37. Bank of Communications Co., Limited The Group’s investment in Bank of Communications Co., Limited (‘BoCom’) is classified as an associate. Significant influence in BoCom was established with consideration of all relevant factors, including representation on BoCom’s Board of Directors and participation in a Resource and Experience Sharing (‘RES’) agreement. 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 31 Dec 2020 At 31 Dec 2019 VIU Carrying value Fair value VIU Carrying value Fair value $bn $bn $bn $bn $bn $bn BoCom 21.8 21.2 7.5 21.5 19.0 10.1 Compared with 31 December 2019, the extent to which the VIU exceeds the carrying value (‘headroom’) decreased by $1.9bn. The reduction in headroom was principally due to the impact on the VIU from 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, downward revisions to management's best estimates of BoCom's future earnings in the short to medium term, and the net impact of revisions to certain long-term assumptions. Both the VIU and the carrying value increased due to the impact of foreign exchange movements. In future periods, the VIU may increase or decrease depending on the effect of changes to model inputs. The main model inputs are described below and are based on factors observed at period-end. The factors that could result in a change in the VIU and an impairment include a short-term underperformance by BoCom, a change in regulatory capital requirements or an increase in uncertainty regarding the future performance of BoCom resulting in a downgrade of the forecast of future asset growth or profitability. An increase in the discount rate 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 into perpetuity using a long-term growth rate to derive a terminal value, which comprises the majority of the VIU. The second component is the capital maintenance charge (‘CMC’), which is management’s forecast of the earnings that need to be withheld in order for BoCom to meet regulatory capital requirements over the forecast period, meaning that CMC is deducted when arriving at management’s estimate of future earnings available to ordinary shareholders. The principal inputs to the CMC calculation include estimates of asset growth, the ratio of risk-weighted assets to total assets and the expected minimum regulatory capital requirements. An increase in the CMC as a result of a change to these principal inputs would reduce VIU. Additionally, management considers other factors, including qualitative factors, to ensure that the inputs to the VIU calculation remain appropriate. Key assumptions in value-in-use calculation We used a number of assumptions in our VIU calculation, in accordance with the requirements of IAS 36: • Long-term profit growth rate: 3% (2019: 3%) for periods after 2024, which does not exceed forecast GDP growth in mainland China and is consistent with forecasts by external analysts. • Long-term asset growth rate: 3% (2019: 3%) for periods after 2024, which is the rate that assets are expected to grow to achieve long-term profit growth of 3%. • Discount rate: 11.37% (2019: 11.24%). This is based on a capital asset pricing model (‘CAPM’) calculation for BoCom, using market data. Management also compares the rate derived from the CAPM with discount rates from external sources. The discount rate used is within the range of 10.3% to 15.0% (2019: 10.0% to 15.0%) indicated by external sources. The increased rate reflects the net impact of updates to certain components of CAPM due to elevated levels of risk arising from the impact of the Covid-19 outbreak and the disruption to global economic activity. • Expected credit losses (‘ECL’) as a percentage of customer advances: This ranges from 0.98% to 1.22% (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 2024, the ratio is 0.88% (2019: 0.76%), which is slightly higher than BoCom’s average ECL in recent years. This ratio was increased to reflect trends in BoCom’s actual results in recent years of increasing ECL and of changes to BoCom’s loan portfolio. • Risk-weighted assets as a percentage of total assets: This ranges from 61% to 62% (2019: 61%) in the short to medium term, reflecting increases that may arise from higher ECL in the short term, followed by reductions that may arise from a subsequent lowering of ECL and a continuation of the trend of strong retail loan growth. For periods after 2024, the ratio is 61% (2019: 61%). These rates are similar to BoCom’s actual results in recent years and are slightly below forecasts disclosed by external analysts. • Operating income growth rate: This ranges from 3.5% to 6.7% (2019: 4.9% to 9.4%) in the short to medium term, and is lower than BoCom’s actual results in recent years and the forecasts disclosed by external analysts, reflecting economic pressures from the Covid-19 outbreak, global trade tensions and industry developments in mainland China. • Cost-income ratio: This ranges from 36.3% to 36.8% (2019: 37.1% to 38.8%) in the short to medium term. These ratios are similar to BoCom's actual results in recent years and slightly higher than forecasts disclosed by external analysts. • Effective tax rate: This ranges from 7.8% to 16.5% (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 through the forecast period. For periods after 2024, the rate is 16.8% (2019: 22.5%), which is higher than the recent historical average. This rate was reduced on expectations of a lower effective tax rate in the long term, reflecting BoCom’s actual results in recent years and forecast financial asset composition, and forecasts disclosed by external analysts. • Capital requirements: This was based on a capital adequacy ratio of 11.5% (2019: 11.5%) and tier 1 capital adequacy ratio of 9.5% (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 22 basis points • Long-term asset growth rate • Increase by 20 basis points • Discount rate • Increase by 26 basis points • Expected credit losses as a percentage of customer advances • Increase by 3 basis points • Risk-weighted assets as a percentage of total assets • Increase by 136 basis points • Operating income growth rate • Decrease by 28 basis points • Cost-income ratio • Increase by 77 basis points • Long-term effective tax rate • Increase by 216 basis points • Capital requirements – capital adequacy ratio • Increase by 26 basis points • Capital requirements – tier 1 capital adequacy ratio • Increase by 90 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 in VIU VIU Decrease in VIU VIU bps $bn $bn bps $bn $bn At 31 Dec 2020 Long-term profit growth rate — — 21.8 (50) (1.3) 20.5 Long-term asset growth rate (50) 1.4 23.2 — — 21.8 Discount rate — 1.2 23.0 53 (1.2) 20.6 Expected credit losses as a percentage of customer advances 2020 to 2024: 96 2025 onwards: 76 2.3 24.1 2020 to 2024: 122 2025 onwards: 95 (2.1) 19.7 Risk-weighted assets as a percentage of total assets (40) 0.1 21.9 166 (0.8) 21.0 Operating income growth rate 2 0.2 22.0 (69) (1.5) 20.3 Cost-income ratio (149) 1.3 23.1 120 (1.2) 20.6 Long-term effective tax rate (316) 0.9 22.7 820 (2.2) 19.6 Capital requirements – capital adequacy ratio — — 21.8 297 (7.8) 14.0 Capital requirements – tier 1 capital adequacy ratio — — 21.8 263 (5.3) 16.5 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 2024 onwards: 70 1.0 22.5 2019 to 2023: 108 2024 onwards: 81 (1.2) 20.3 Risk-weighted assets as a percentage of total assets (96) 0.4 21.9 12 — 21.5 Operating income growth rate 14 — 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 $18.2bn to $24.2bn (2019: $18.5bn to $22.8bn). 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. Selected financial information of BoCom The statutory accounting reference date of BoCom is 31 December. For the year ended 31 December 2020, HSBC included the associate’s results on the basis of the financial statements for the 12 months ended 30 September 2020, taking into account changes in the subsequent period from 1 October 2020 to 31 December 2020 that would have materially affected the results. Selected balance sheet information of BoCom At 30 Sep 2020 2019 $m $m Cash and balances at central banks 121,987 112,239 Loans and advances to banks and other financial institutions 107,334 108,026 Loans and advances to customers 870,728 730,510 Other financial assets 508,328 435,740 Other assets 44,622 40,101 Total assets 1,652,999 1,426,616 Deposits by banks and other financial institutions 273,708 290,492 Customer accounts 1,012,732 868,627 Other financial liabilities 207,110 131,772 Other liabilities 31,105 23,074 Total liabilities 1,524,655 1,313,965 Total equity 128,344 112,651 Reconciliation of BoCom’s total shareholders’ equity to the carrying amount in HSBC’s consolidated financial statements At 30 Sep 2020 2019 $m $m HSBC’s share of total shareholders’ equity 20,743 18,509 Goodwill and other intangible assets 505 473 Carrying amount 21,248 18,982 Selected income statement information of BoCom For the 12 months ended 30 Sep 2020 2019 $m $m Net interest income 21,994 20,558 Net fee and commission income 6,398 6,411 Change in expected credit losses and other credit impairment charges (9,698) (7,479) Depreciation and amortisation (2,072) (1,934) Tax expense (858) (1,636) Profit for the year 10,261 11,175 Other comprehensive income (769) 315 Total comprehensive income 9,492 11,490 Dividends received from BoCom 633 613 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%. On 3 December 2020, HSBC purchased additional shares in SABB, which increased the Group’s shareholding to 31%. HSBC remains 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 At 31 December 2020, the fair value of the Group’s investment in SABB of $4.20bn was below the carrying amount of $4.22bn. As a result, the Group performed an impairment test on the carrying amount, which confirmed no impairment. The recoverable amount as determined by a VIU calculation is $4.74bn. 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: 2.85% for periods after 2024. This does not exceed forecast GDP growth in Saudi Arabia. • Long-term asset growth rate: 2.85% for periods after 2024. This is the rate that assets are expected to grow to achieve long-term profit growth of 2.85%. • Discount rate: 10.4%. 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 31 December 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. A reasonable change in a single key assumption may not result in impairment, although taken together a combination of reasonable changes in key assumptions could result in a recoverable amount that is lower than the carrying amount. Key assumption Reasonably possible change • Cash flow projections • Cash flow projections decrease by 15%. This could result in an impairment of $0.2bn. • Discount rate • Discount rate increases by 100 basis points. This does not result in impairment. 20 Structured entities HSBC is mainly involved with both consolidated and unconsolidated structured entities through the securitisation of financial assets, conduits and investment funds, established either by HSBC or a third party. Consolidated structured entities Total assets of HSBC’s consolidated structured entities, split by entity type Conduits Securitisations HSBC Other Total $bn $bn $bn $bn $bn At 31 Dec 2020 6.9 11.7 5.3 10.8 34.7 At 31 Dec 2019 8.6 9.6 6.8 6.7 31.7 Conduits HSBC has established and manages two types of conduits: securities investment conduits (‘SICs’) and multi-seller conduits. Securities investment conduits The SICs purchase highly rated ABSs to facilitate tailored investment opportunities. • At 31 December 2020, Solitaire, HSBC’s principal SIC, held $1.9bn of ABSs (2019: $2.1bn). It is currently funded entirely by commercial paper (‘CP’) issued to HSBC. At 31 December 2020, HSBC held $2.1bn of CP (2019: $3.2bn). Multi-seller conduit HSBC’s multi-seller conduit was established to provide access to flexible market-based sources of finance for its clients. Currently, HSBC bears risk equal to the transaction-specific facility offered to the multi-seller conduit, amounting to $9.6bn at 31 December 2020 (2019: $12.4bn). First loss protection is provided by the originator of the assets, and not by HSBC, through transaction-specific credit enhancements. A layer of secondary loss protection is provided by HSBC in the form of programme-wide enhancement facilities. Securitisations HSBC uses structured entities to securitise customer loans and advances it originates in order to diversify its sources of funding for asset origination and capital efficiency purposes. The loans and advances are transferred by HSBC to the structured entities for cash or synthetically through credit default swaps, and the structured entities issue debt securities to investors. HSBC managed funds HSBC has established a number of money market and non-money market funds. Where it is deemed to be acting as principal rather than agent in its role as investment manager, HSBC controls these funds. Other HSBC has entered into a number of transactions in the normal course of business, which include asset and structured finance transactions where it has control of the structured entity. In addition, HSBC is deemed to control a number of third-party managed funds through its involvement as a principal in the funds. Unconsolidated structured entities The term ‘unconsolidated structured entities’ refers to all structured entities not controlled by HSBC. The Group enters into transactions with unconsolidated structured entities in the normal course of business to facilitate customer transactions and for specific investment opportunities. Nature and risks associated with HSBC interests in unconsolidated structured entities Securitisations HSBC managed funds Non-HSBC managed funds Other Total Total asset values of the entities ($m) 0–500 86 292 1,430 47 1,855 500–2,000 9 94 733 2 838 2,000–5,000 — 32 389 — 421 5,000–25,000 — 14 311 — 325 25,000+ — 5 41 — 46 Number of entities at 31 Dec 2020 95 437 2,904 49 3,485 $bn $bn $bn $bn $bn Total assets in relation to HSBC’s interests in the unconsolidated structured entities 4.4 9.9 17.5 2.1 33.9 – trading assets — 0.3 3.2 — 3.5 – financial assets designated and otherwise mandatorily measured at fair value — 8.6 13.8 — 22.4 – loans and advances to customers 4.4 — — 1.5 5.9 – financial investments — 1 0.5 — 1.5 – other assets — — — 0.6 0.6 Total liabilities in relation to HSBC’s interests in the unconsolidated structured entities — — — 0.3 0.3 – other liabilities — — — 0.3 0.3 Other off-balance sheet commitments 0.1 0.5 4.9 1.2 6.7 HSBC’s maximum exposure at 31 Dec 2020 4.5 10.4 22.4 3.6 40.9 Total asset values of the entities ($m) 0–500 91 236 670 70 1,067 500–2,000 12 70 642 7 731 2,000–5,000 — 28 345 — 373 5,000–25,000 — 14 260 — 274 25,000+ — 3 39 2 44 Number of entities at 31 Dec 2019 103 351 1,956 79 2,489 $bn $bn $bn $bn $bn Total assets in relation to HSBC’s interests in the unconsolidated structured entities 5.3 9.1 15.1 4.2 33.7 – trading assets — 0.2 3.5 1.3 5 – financial assets designated and otherwise mandatorily measured at fair value — 8.4 10.7 — 19.1 – loans and advances to customers 5.3 — 0.4 2.3 8 – financial investments — 0.5 0.5 — 1 – other assets — — — 0.6 0.6 Total liabilities in relation to HSBC’s interests in the unconsolidated structured entities — — — 0.3 0.3 – other liabilities — — — 0.3 0.3 Other off-balance sheet commitments 0.3 0.3 3.9 0.7 5.2 HSBC’s maximum exposure at 31 Dec 2019 5.6 9.4 19.0 4.6 38.6 The maximum exposure to loss from HSBC’s interests in unconsolidated structured entities represents the maximum loss it could incur as a result of its involvement with these entities regardless of the probability of the loss being incurred. • For commitments, guarantees and written credit default swaps, the maximum exposure to loss is the notional amount of potential future losses. • For retained and purchased investments and loans to unconsolidated structured entities, the maximum exposure to loss is the carrying value of these interests at the balance sheet reporting date. The maximum exposure to loss is stated gross of the effects of hedging and collateral arrangements that HSBC has entered into in order to mitigate the Group's exposure to loss. Securitisations HSBC has interests in unconsolidated securitisation vehicles through holding notes issued by these entities. In addition, HSBC has investments in ABSs issued by third-party structured entities. HSBC managed funds HSBC establishes and manages money market funds and non-money market investment funds to provide customers with investment opportunities. Further information on funds under management is provided on page 106. HSBC, as fund manager, may be entitled to receive management and performance fees based on the assets under management. HSBC may also retain units in these funds. Non-HSBC managed funds HSBC purchases and holds units of third-party managed funds in order to facilitate business and meet customer needs. Other HSBC has established structured entities in the normal course of business, such as structured credit transactions for customers, to provide finance to public and private sector infrastructure projects, and for asset and structured finance transactions. In addition to the interests disclosed above, HSBC enters into derivative contracts, reverse repos and stock borrowing transactions with structured entities. These interests arise in the normal course of business for the facilitation of third-party transactions and risk management solutions. HSBC sponsored structured entities The amount of assets transferred to and income received from such sponsored structured entities during 2020 and 2019 were not significant. 37 HSBC Holdings’ subsidiaries, joint ventures and associates In accordance with section 409 of the Companies Act 2006 a list of HSBC Holdings plc subsidiaries, joint ventures and associates, the registered office addresses and the effective percentages of equity owned at 31 December 2020 are disclosed below. Unless otherwise stated, the share capital comprises ordinary or common shares that are held by Group subsidiaries. The ownership percentage is provided for each undertaking. The undertakings below are consolidated by HSBC unless otherwise indicated. Subsidiaries % of share class held by immediate parent company (or by the Group where this varies) Footnotes 452 TALF Plus ABS Opportunities SPV LLC 100.00 13 452 TALF SPV LLC 100.00 13 Almacenadora Banpacifico S.A. (In Liquidation) 99.99 14 Assetfinance December (F) Limited 100.00 15 Assetfinance December (H) Limited 100.00 16 Assetfinance December (M) Limited (In Liquidation) 100.00 17 Assetfinance December (P) Limited 100.00 16 Assetfinance December (R) Limited 100.00 16 Assetfinance June (A) Limited 100.00 16 Assetfinance June (D) Limited 100.00 15 Assetfinance Limited 100.00 16 Assetfinance March (B) Limited 100.00 18 Assetfinance March (D) Limited 100.00 15 Assetfinance March (F) Limited 100.00 16 Assetfinance September (F) Limited 100.00 16 Assetfinance September (G) Limited 100.00 15 B&Q Financial Services Limited 100.00 16 Banco HSBC S.A. 100.00 19 Banco Nominees (Guernsey) Limited 100.00 20 Banco Nominees 2 (Guernsey) Limited 100.00 20 Banco Nominees Limited 100.00 21 Beau Soleil Limited Partnership N/A 0, 22 Beijing Miyun HSBC Rural Bank Company Limited 100.00 10, 23 Billingsgate Nominees Limited (In Liquidation) 100.00 24 Canada Crescent Nominees (UK) Limited 100.00 16 Canada Square Nominees (UK) Limited 100.00 16 Capco/Cove, Inc. 100.00 25 Card-Flo #1, Inc. 100.00 13 Card-Flo #3, Inc. 100.00 13 CC&H Holdings LLC 100.00 26 CCF HOLDING (LIBAN) S.A.L. (In Liquidation) 74.99 27 Charterhouse Administrators ( D.T.) Limited 100.00 (99.99) 16 Charterhouse Management Services Limited 100.00 (99.99) 16 Charterhouse Pensions Limited 100.00 16 Chongqing Dazu HSBC Rural Bank Company Limited 100.00 10, 28 Chongqing Fengdu HSBC Rural Bank Company Limited 100.00 10, 29 Chongqing Rongchang HSBC Rural Bank Company Limited 100.00 10, 30 COIF Nominees Limited N/A 0, 16 Cordico Management AG (In Liquidation) 100.00 31 Corsair IV Financial Services Capital Partners-B, LP N/A 0, 185 Dalian Pulandian HSBC Rural Bank Company Limited 100.00 10, 32 Decision One Mortgage Company, LLC N/A 0, 33 Dem 9 100.00 (99.99) 4, 34 Dempar 1 100.00 (99.99) 4, 34 Desarrollo Turistico, S.A. de C.V. (In Liquidation) 100.00 (99.99) 14 Electronic Data Process México, S.A. de C.V. 100.00 14 Equator Holdings Limited (In Liquidation) 100.00 17 Eton Corporate Services Limited 100.00 20 Far East Leasing SA (In Dissolution) 100.00 35 Flandres Contentieux S.A. 100.00 (99.99) 34 Foncière Elysées 100.00 (99.99) 34 Fujian Yongan HSBC Rural Bank Company Limited 100.00 10, 36 Fulcher Enterprises Company Limited 100.00 (62.14) 37 Fundacion HSBC, A.C. 100.00 (99.99) 9, 14 Giller Ltd. 100.00 25 GPIF Co-Investment, LLC N/A 0, 13 Subsidiaries % of share class held by immediate parent company (or by the Group where this varies) Footnotes Griffin International Limited 100.00 16 Grundstuecksgesellschaft Trinkausstrasse Kommanditgesellschaft N/A 0, 38 Grupo Financiero HSBC, S. A. de C. V. 99.99 14 Guangdong Enping HSBC Rural Bank Company Limited 100.00 10, 39 Guangzhou HSBC Real Estate Company Ltd 100.00 40 Hang Seng (Nominee) Limited 100.00 (62.14) 37 Hang Seng Bank (China) Limited 100.00 (62.14) 41 Hang Seng Bank (Trustee) Limited 100.00 (62.14) 37 Hang Seng Bank Limited 62.14 37 Hang Seng Bullion Company Limited 100.00 (62.14) 37 Hang Seng Credit Limited 100.00 (62.14) 37 Hang Seng Data Services Limited 100.00 (62.14) 37 Hang Seng Finance Limited 100.00 (62.14) 37 Hang Seng Financial Information Limited 100.00 (62.14) 37 Hang Seng Indexes (Netherlands) B.V. 100.00 (62.14) 42 Hang Seng Indexes Company Limited 100.00 (62.14) 37 Hang Seng Insurance Company Limited 100.00 (62.14) 37 Hang Seng Investment Management Limited 100.00 (62.14) 37 Hang Seng Investment Services Limited 100.00 (62.14) 37 Hang Seng Life Limited 100.00 (62.14) 37 Hang Seng Real Estate Management Limited 100.00 (62.14) 37 Hang Seng Securities Limited 100.00 (62.14) 37 Hang Seng Security Management Limited 100.00 (62.14) 37 Haseba Investment Company Limited 100.00 (62.14) 37 HFC Bank Limited (In Liquidation) 100.00 17 High Time Investments Limited 100.00 (62.14) 37 Honey Green Enterprises Ltd. 100.00 43 Honey Grey Enterprises Limited 100.00 44 Honey Silver Enterprises Limited 100.00 44 Household International Europe Limited (In Liquidation) 100.00 17 Household Pooling Corporation 100.00 45 Housing (USA) LLP N/A HSBC (BGF) Investments Limited 100.00 16 HSBC (General Partner) Limited 100.00 2, 47 HSBC (Guernsey) GP PCC Limited 100.00 20 HSBC (Kuala Lumpur) Nominees Sdn Bhd 100.00 48 HSBC (Malaysia) Trustee Berhad 100.00 49 HSBC (Singapore) Nominees Pte Ltd 100.00 50 HSBC Agency (India) Private Limited 100.00 51 HSBC Alternative Credit Strategies General Partner S.a r.l. N/A 0, 52 HSBC Alternative Investments Limited 100.00 16 HSBC Amanah Malaysia Berhad 100.00 48 HSBC Americas Corporation (Delaware) 100.00 13 HSBC Argentina Holdings S.A. 100.00 53 HSBC Asia Holdings B.V. 100.00 16 HSBC Asia Holdings Limited 100.00 2, 44 HSBC Asia Pacific Holdings (UK) Limited 100.00 16 HSBC Asset Finance (UK) Limited 100.00 16 HSBC Asset Finance M.O.G. Holdings (UK) Limited 100.00 16 HSBC Asset Management (India) Private Limited 100.00 54 HSBC Assurances Vie (France) 100.00 (99.99) 55 HSBC Australia Holdings Pty Limited 100.00 56 HSBC BANK (CHILE) 100.00 57 HSBC Bank (China) Company Limited 100.00 10, 58 HSBC Bank (General Partner) Limited 100.00 47 HSBC Bank (Mauritius) Limited 100.00 59 HSBC Bank (RR) (Limited Liability Company) N/A 0, 11, 60 HSBC Bank (Singapore) Limited 100.00 50 HSBC Bank (Taiwan) Limited 100.00 61 HSBC Bank (Uruguay) S.A. 100.00 62 HSBC Bank (Vietnam) Ltd. 100.00 63 HSBC Bank A.S. 100.00 64 Subsidiaries % of share class held by immediate parent company (or by the Group where this varies) Footnotes HSBC Bank Argentina S.A. 100.00 53 HSBC Bank Armenia cjsc 100.00 65 HSBC Bank Australia Limited 100.00 56 HSBC Bank Bermuda Limited 100.00 21 HSBC Bank Canada 100.00 66 HSBC Bank Capital Funding (Sterling 1) LP N/A 0, 47 HSBC Bank Capital Funding (Sterling 2) LP N/A 0, 47 HSBC Bank Egypt S.A.E 99.63 (94.54) 67 HSBC Bank Malaysia Berhad 100.00 48 HSBC Bank Malta p.l.c. 70.03 68 HSBC Bank Middle East Limited 100.00 5, 69 HSBC Bank Middle East Limited Representative Office Morocco SARL (In Liquidation) 100.00 70 HSBC Bank Oman S.A.O.G. 51.00 71 HSBC Bank Pension Trust (UK) Limited 100.00 16 HSBC Bank plc 100.00 16 HSBC Bank USA, National Association 100.00 3, 72 HSBC Branch Nominee (UK) Limited 100.00 15 HSBC Brasil Holding S.A. 100.00 19 HSBC Broking Forex (Asia) Limited 100.00 44 HSBC Broking Futures (Asia) Limited 100.00 44 HSBC Broking Futures (Hong Kong) Limited 100.00 44 HSBC Broking Securities (Asia) Limited 100.00 44 HSBC Broking Securities (Hong Kong) Limited 100.00 44 HSBC Broking Services (Asia) Limited 100.00 44 HSBC Canadian Covered Bond (Legislative) Guarantor Limited Partnership N/A 0, 73 HSBC Capital (USA), Inc. 100.00 13 HSBC Capital Funding (Dollar 1) L.P. N/A 0, 47 HSBC Capital Limited 100.00 44 HSBC Card Services Inc. 100.00 13 HSBC Casa de Bolsa, S.A. de C.V., Grupo Financiero HSBC 100.00 (99.99) 14 HSBC Cayman Limited 100.00 74 HSBC Cayman Services Limited 100.00 74 HSBC City Funding Holdings 100.00 16 HSBC Client Holdings Nominee (UK) Limited 100.00 16 HSBC Client Nominee (Jersey) Limited 100.00 75 HSBC Columbia Funding, LLC N/A 0, 13 HSBC Continental Europe 99.99 34 HSBC Corporate Advisory (Malaysia) Sdn Bhd 100.00 48 HSBC Corporate Finance (Hong Kong) Limited 100.00 44 HSBC Corporate Trustee Company (UK) Limited 100.00 16 HSBC Custody Nominees (Australia) Limited 100.00 56 HSBC Custody Services (Guernsey) Limited 100.00 20 HSBC Daisy Investments (Mauritius) Limited 100.00 76 HSBC Diversified Loan Fund General Partner Sarl 100.00 77 HSBC Electronic Data Processing (Guangdong) Limited 100.00 10, 78 HSBC Electronic |
Non-statutory accounts
Non-statutory accounts | 12 Months Ended |
Dec. 31, 2020 | |
Corporate Information And Statement Of IFRS Compliance [Abstract] | |
Non-statutory accounts | 38 Non-statutory accounts The information set out in these accounts does not constitute the Company’s statutory accounts for the years ended 31 December 2020 or 2019. Those accounts have been reported on by the Company’s auditors: their reports were unqualified and did not contain a statement under Section 498(2) or (3) of the Companies Act 2006. The accounts for 2019 have been delivered to the Registrar of Companies and those for 2020 will be delivered in due course. |
Report Of The Directors Financi
Report Of The Directors Financial Review Risk Report | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Report Of The Directors Financial Review Risk Report [Abstract] | ||
Disclosure of audited information included in report of the directors risk report | Financial instruments impacted by Ibor reform (Audited) Interest Rate Benchmark Reform Phase 2, the amendments to IFRSs issued in August 2020, represents the second phase of the IASB’s project on the effects of interest rate benchmark reform. The amendments address issues affecting financial statements when changes are made to contractual cash flows and hedging relationships. Under these amendments, changes made to a financial instrument measured at other than fair value through profit or loss that are economically equivalent and required by interest rate benchmark reform, do not result in the derecognition or a change in the carrying amount of the financial instrument. Instead they require the effective interest rate to be updated to reflect the change in the interest rate benchmark. In addition, hedge accounting will not be discontinued solely because of the replacement of the interest rate benchmark if the hedge meets other hedge accounting criteria. These amendments applied from 1 January 2021 with early adoption permitted. HSBC adopted the amendments from Financial instruments yet to transition to alternative benchmarks, by main benchmark USD Libor GBP Libor JPY Libor Others 1 At 31 Dec 2020 $m $m $m $m Non-derivative financial assets 2 94,148 46,587 371 10,763 Non-derivative financial liabilities 2 33,602 7,183 1,548 549 Derivative notional contract amount 3,045,337 1,196,865 508,200 514,959 1 Comprises financial instruments referencing other significant benchmark rates yet to transition to alternative benchmarks (Euro Libor, Swiss franc Libor, Eonia, SOR, MIFOR, THBFIX, PHIREF, TRLibor and Sibor). 2 Gross carrying amount excluding allowances for expected credit losses. The amounts in the above table relate to HSBC’s main operating entities where HSBC has material exposures impacted by Ibor reform, including in the UK, Hong Kong, France, the US, Mexico, Canada, Singapore, the UAE, Bermuda, Australia, Qatar, Germany, Japan and Thailand. The amounts provide an indication of the extent of the Group’s exposure to the Ibor benchmarks that are due to be replaced. Amounts are in respect of financial instruments that: • contractually reference an interest rate benchmark that is planned to transition to an alternative benchmark; • have a contractual maturity date after 31 December 2021, the date by which Libor is expected to cease; and • are recognised on HSBC’s consolidated balance sheet. The administrator of Libor, IBA, has announced a proposal to extend the publication date of most US dollar Libor tenors until Credit Risk sub-function (Audited) Credit approval authorities are delegated by the Board to the Group Chief Executive together with the authority to sub-delegate them. The Credit Risk sub-function in Global Risk is responsible for the key policies and processes for managing credit risk, which include formulating Group credit policies and risk rating frameworks, guiding the Group’s appetite for credit risk exposures, undertaking independent reviews and objective assessment of credit risk, and monitoring performance and management of portfolios. The principal objectives of our credit risk management are: • to maintain across HSBC a strong culture of responsible lending, and robust risk policies and control frameworks; • to both partner and challenge our businesses in defining, implementing and continually re-evaluating our risk appetite under actual and scenario conditions; and • to ensure there is independent, expert scrutiny of credit risks, their costs and their mitigation. Concentration of exposure (Audited) Concentrations of credit risk arise when a number of counterparties or exposures have comparable economic characteristics, or such counterparties are engaged in similar activities or operate in the same geographical areas or industry sectors so that their collective ability to meet contractual obligations is uniformly affected by changes in economic, political or other conditions. We use a number of controls and measures to minimise undue concentration of exposure in our portfolios across industries, countries and global businesses. These include portfolio and counterparty limits, approval and review controls, and stress testing. Credit quality of financial instruments (Audited) Our risk rating system facilitates the internal ratings-based approach under the Basel framework adopted by the Group to support the calculation of our minimum credit regulatory capital requirement. The five credit quality classifications encompass a range of granular internal credit rating grades assigned to wholesale and retail lending businesses, and the external ratings attributed by external agencies to debt securities. For debt securities and certain other financial instruments, external ratings have been aligned to the five quality classifications based upon the mapping of related customer risk rating (‘CRR’) to external credit rating. Renegotiated loans and forbearance (Audited) ‘Forbearance’ describes concessions made on the contractual terms of a loan in response to an obligor’s financial difficulties. A loan is classed as ‘renegotiated’ when we modify the contractual payment terms on concessionary terms because we have significant concerns about the borrowers’ ability to meet contractual payments when due. Non-payment-related concessions (e.g. covenant waivers), while potential indicators of impairment, do not trigger identification as renegotiated loans. Loans that have been identified as renegotiated retain this designation until maturity or derecognition. Renegotiated loans and recognition of expected credit losses (Audited) For retail lending, unsecured renegotiated loans are generally segmented from other parts of the loan portfolio. Renegotiated expected credit loss assessments reflect the higher rates of losses typically encountered with renegotiated loans. For wholesale lending, renegotiated loans are typically assessed individually. Credit risk ratings are intrinsic to the impairment assessments. The individual impairment assessment takes into account the higher risk of the future non-payment inherent in renegotiated loans. Customer relief programmes and renegotiated loans In response to the Covid-19 outbreak, governments and regulators around the world encouraged a range of customer relief programmes including payment deferrals. In determining whether a customer is experiencing financial difficulty for the purposes of identifying renegotiated loans a payment deferral requested under such schemes, or an extension thereof, is not automatically determined to be evidence of financial difficulty and would therefore not automatically trigger identification as renegotiated loans. Rather, information provided by payment deferrals is considered in the context of other reasonable and supportable information. The IFRS 9 treatment of customer relief programmes is explained on page 184. Impairment assessment (Audited) For details of our impairment policies on loans and advances and financial investments, see Note 1.2(i) on the financial statements. Write-off of loans and advances (Audited) For details of our policy on the write-off of loans and advances, see Note 1.2(i) on the financial statements. Unsecured personal facilities, including credit cards, are generally written off at between 150 and 210 days past due. The standard period runs until the end of the month in which the account becomes 180 days contractually delinquent. However, in exceptional circumstances, they may be extended further. For secured facilities, write-off should occur upon repossession of collateral, receipt of proceeds via settlement, or determination that recovery of the collateral will not be pursued. Any secured assets maintained on the balance sheet beyond There are exceptions in a few countries and territories where local regulation or legislation constrains earlier write-off, or where the realisation of collateral for secured real estate lending takes more time. In the event of bankruptcy or analogous proceedings, write-off may occur earlier than the maximum periods stated above. Collection procedures may continue after write-off. Summary of financial instruments to which the impairment requirements in IFRS 9 are applied (Audited) 31 Dec 2020 At 31 Dec 2019 Gross carrying/nominal amount Allowance for ECL 1 Gross carrying/nominal amount Allowance for ECL 1 Footnotes $m $m $m $m Loans and advances to customers at amortised cost 1,052,477 (14,490) 1,045,475 (8,732) – personal 460,809 (4,731) 434,271 (3,134) – corporate and commercial 527,088 (9,494) 540,499 (5,438) – non-bank financial institutions 64,580 (265) 70,705 (160) Loans and advances to banks at amortised cost 81,658 (42) 69,219 (16) Other financial assets measured at amortised cost 772,408 (175) 615,179 (118) – cash and balances at central banks 304,486 (5) 154,101 (2) – items in the course of collection from other banks 4,094 — 4,956 — – Hong Kong Government certificates of indebtedness 40,420 — 38,380 — – reverse repurchase agreements – non-trading 230,628 — 240,862 — – financial investments 88,719 (80) 85,788 (53) – prepayments, accrued income and other assets 2 104,061 (90) 91,092 (63) Total gross carrying amount on-balance sheet 1,906,543 (14,707) 1,729,873 (8,866) Loans and other credit-related commitments 659,783 (734) 600,029 (329) – personal 236,170 (40) 223,314 (15) – corporate and commercial 299,802 (650) 278,524 (307) – non-bank financial institutions 123,811 (44) 98,191 (7) Financial guarantees 18,384 (125) 20,214 (48) – personal 900 (1) 804 (1) – corporate and commercial 12,946 (114) 14,804 (44) – non-bank financial institutions 4,538 (10) 4,606 (3) Total nominal amount off-balance sheet 3 678,167 (859) 620,243 (377) 2,584,710 (15,566) 2,350,116 (9,243) Fair value Memorandum allowance for ECL 4 Fair value Memorandum allowance for ECL 4 $m $m $m $m Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) 399,717 (141) 355,664 (166) 1 The total ECL is recognised in the loss allowance for the financial asset unless the total ECL exceeds the gross carrying amount of the financial asset, in which case the ECL is recognised as a provision. 2 Includes only those financial instruments that are subject to the impairment requirements of IFRS 9. ‘Prepayments, accrued income and other assets’, as presented within the consolidated balance sheet on page 316, includes both financial and non-financial assets. 3 Represents the maximum amount at risk should the contracts be fully drawn upon and clients default. 4 Debt instruments measured at FVOCI continue to be measured at fair value with the allowance for ECL as a memorandum item. Change in ECL is recognised in ‘Change in expected credit losses and other credit impairment charges’ in the income statement. Summary of credit risk (excluding debt instruments measured at FVOCI) by stage distribution and ECL coverage by industry sector at 31 December 2020 (Audited) Gross carrying/nominal amount 1 Allowance for ECL ECL coverage % Stage 1 Stage 2 Stage 3 POCI 2 Total Stage 1 Stage 2 Stage 3 POCI 2 Total Stage 1 Stage 2 Stage 3 POCI 2 Total $m $m $m $m $m $m $m $m $m $m % % % % % Loans and advances to customers at amortised cost 869,920 163,185 19,095 277 1,052,477 (1,974) (4,965) (7,439) (112) (14,490) 0.2 3.0 39.0 40.4 1.4 – personal 430,134 25,064 5,611 — 460,809 (827) (2,402) (1,502) — (4,731) 0.2 9.6 26.8 — 1.0 – corporate and commercial 387,563 126,287 12,961 277 527,088 (1,101) (2,444) (5,837) (112) (9,494) 0.3 1.9 45.0 40.4 1.8 – non-bank financial institutions 52,223 11,834 523 — 64,580 (46) (119) (100) — (265) 0.1 1.0 19.1 — 0.4 Loans and advances to banks at amortised cost 79,654 2,004 — — 81,658 (33) (9) — — (42) — 0.4 — — 0.1 Other financial assets measured at amortised cost 768,216 3,975 177 40 772,408 (80) (44) (42) (9) (175) — 1.1 23.7 22.5 — Loan and other credit-related commitments 604,485 54,217 1,080 1 659,783 (290) (365) (78) (1) (734) — 0.7 7.2 100.0 0.1 – personal 234,337 1,681 152 — 236,170 (39) (1) — — (40) — 0.1 — — — – corporate and commercial 253,062 45,851 888 1 299,802 (236) (338) (75) (1) (650) 0.1 0.7 8.4 100.0 0.2 – financial 117,086 6,685 40 — 123,811 (15) (26) (3) — (44) — 0.4 7.5 — — Financial guarantees 14,090 4,024 269 1 18,384 (37) (62) (26) — (125) 0.3 1.5 9.7 — 0.7 – personal 872 26 2 — 900 — (1) — — (1) — 3.8 — — 0.1 – corporate and commercial 9,536 3,157 252 1 12,946 (35) (54) (25) — (114) 0.4 1.7 9.9 — 0.9 – financial 3,682 841 15 — 4,538 (2) (7) (1) — (10) 0.1 0.8 6.7 — 0.2 At 31 Dec 2020 2,336,365 227,405 20,621 319 2,584,710 (2,414) (5,445) (7,585) (122) (15,566) 0.1 2.4 36.8 38.2 0.6 1 Represents the maximum amount at risk should the contracts be fully drawn upon and clients default. 2 Purchased or originated credit-impaired (‘POCI’). Stage 2 days past due analysis at 31 December 2020 (Audited) Gross carrying amount Allowance for ECL ECL coverage % Stage 2 Up-to-date 1 to 29 DPD 1,2 30 and > DPD 1,2 Stage 2 Up-to-date 1 to 29 DPD 1,2 30 and > DPD 1,2 Stage 2 Up-to-date 1 to 29 DPD 1,2 30 and > DPD 1,2 $m $m $m $m $m $m $m $m % % % % Loans and advances to customers at amortised cost 163,185 159,367 2,052 1,766 (4,965) (4,358) (275) (332) 3.0 2.7 13.4 18.8 – personal 25,064 22,250 1,554 1,260 (2,402) (1,895) (227) (280) 9.6 8.5 14.6 22.2 – corporate and commercial 126,287 125,301 489 497 (2,444) (2,344) (48) (52) 1.9 1.9 9.8 10.5 – non-bank financial institutions 11,834 11,816 9 9 (119) (119) — — 1.0 1.0 — — Loans and advances to banks at amortised cost 2,004 2,004 — — (9) (9) — — 0.4 0.4 — — Other financial assets measured at amortised cost 3,975 3,963 3 9 (44) (44) — — 1.1 1.1 — — 1 Days past due (‘DPD’). 2 The days past due amounts presented above are on a contractual basis and include the benefit of any customer relief payment holidays granted. Summary of credit risk (excluding debt instruments measured at FVOCI) by stage distribution and ECL coverage by industry sector at 31 December 2019 (continued) (Audited) Gross carrying/nominal amount 1 Allowance for ECL ECL coverage % Stage 1 Stage 2 Stage 3 POCI 2 Total Stage 1 Stage 2 Stage 3 POCI 2 Total Stage 1 Stage 2 Stage 3 POCI 2 Total $m $m $m $m $m $m $m $m $m $m % % % % % Loans and advances to customers at amortised cost 951,583 80,182 13,378 332 1,045,475 (1,297) (2,284) (5,052) (99) (8,732) 0.1 2.8 37.8 29.8 0.8 – personal 413,669 15,751 4,851 — 434,271 (583) (1,336) (1,215) — (3,134) 0.1 8.5 25.0 — 0.7 – corporate and commercial 472,253 59,599 8,315 332 540,499 (672) (920) (3,747) (99) (5,438) 0.1 1.5 45.1 29.8 1.0 – non-bank financial institutions 65,661 4,832 212 — 70,705 (42) (28) (90) — (160) 0.1 0.6 42.5 — 0.2 Loans and advances to banks at amortised cost 67,769 1,450 — — 69,219 (14) (2) — — (16) — 0.1 — — — Other financial assets measured at amortised cost 613,200 1,827 151 1 615,179 (38) (38) (42) — (118) — 2.1 27.8 — — Loan and other credit-related commitments 577,631 21,618 771 9 600,029 (137) (133) (59) — (329) — 0.6 7.7 — 0.1 – personal 221,490 1,630 194 — 223,314 (13) (2) — — (15) — 0.1 — — — – corporate and commercial 259,138 18,804 573 9 278,524 (118) (130) (59) — (307) — 0.7 10.3 — 0.1 – financial 97,003 1,184 4 — 98,191 (6) (1) — — (7) — 0.1 — — — Financial guarantees 17,684 2,340 186 4 20,214 (16) (22) (10) — (48) 0.1 0.9 5.4 — 0.2 – personal 802 1 1 — 804 (1) — — — (1) 0.1 — — — 0.1 – corporate and commercial 12,540 2,076 184 4 14,804 (14) (21) (9) — (44) 0.1 1.0 4.9 — 0.3 – financial 4,342 263 1 — 4,606 (1) (1) (1) — (3) — 0.4 100.0 — 0.1 At 31 Dec 2019 2,227,867 107,417 14,486 346 2,350,116 (1,502) (2,479) (5,163) (99) (9,243) 0.1 2.3 35.6 28.6 0.4 1 Represents the maximum amount at risk should the contracts be fully drawn upon and clients default. 2 Purchased or originated credit-impaired (‘POCI’). Stage 2 days past due analysis at 31 December 2019 (Audited) Gross carrying amount Allowance for ECL ECL coverage % Stage 2 Up-to-date 1 to 29 DPD 1 30 and > DPD 1 Stage 2 Up-to-date 1 to 29 DPD 1 30 and > DPD 1 Stage 2 Up-to-date 1 to 29 DPD 1 30 and > DPD 1 $m $m $m $m $m $m $m $m % % % % Loans and advances to customers at amortised cost 80,182 76,035 2,471 1,676 (2,284) (1,829) (208) (247) 2.8 2.4 8.4 14.7 – personal 15,751 12,658 1,804 1,289 (1,336) (941) (178) (217) 8.5 7.4 9.9 16.8 – corporate and commercial 59,599 58,557 657 385 (920) (860) (30) (30) 1.5 1.5 4.6 7.8 – non-bank financial institutions 4,832 4,820 10 2 (28) (28) — — 0.6 0.6 — — Loans and advances to banks at amortised cost 1,450 1,450 — — (2) (2) — — 0.1 0.1 — — Other financial assets measured at amortised cost 1,827 1,783 14 30 (38) (38) — — 2.1 2.1 — — 1 Days past due (‘DPD’). Credit exposure Maximum exposure to credit risk (Audited) This section provides information on balance sheet items and their offsets as well as loan and other credit-related commitments. Commentary on consolidated balance sheet movements in 2020 is provided on page 85. The offset on derivatives remains in line with the movements in maximum exposure amounts. Maximum exposure to credit risk (Audited) 2020 2019 Maximum Offset Net Maximum Offset Net $m $m $m $m $m $m Loans and advances to customers held at amortised cost 1,037,987 (27,221) 1,010,766 1,036,743 (28,524) 1,008,219 – personal 456,078 (4,287) 451,791 431,137 (4,640) 426,497 – corporate and commercial 517,594 (21,102) 496,492 535,061 (21,745) 513,316 – non-bank financial institutions 64,315 (1,832) 62,483 70,545 (2,139) 68,406 Loans and advances to banks at amortised cost 81,616 — 81,616 69,203 — 69,203 Other financial assets held at amortised cost 774,116 (14,668) 759,448 616,648 (28,826) 587,822 – cash and balances at central banks 304,481 — 304,481 154,099 — 154,099 – items in the course of collection from other banks 4,094 — 4,094 4,956 — 4,956 – Hong Kong Government certificates of indebtedness 40,420 — 40,420 38,380 — 38,380 – reverse repurchase agreements – non-trading 230,628 (14,668) 215,960 240,862 (28,826) 212,036 – financial investments 88,639 — 88,639 85,735 — 85,735 – prepayments, accrued income and other assets 105,854 — 105,854 92,616 — 92,616 Derivatives 307,726 (293,240) 14,486 242,995 (232,908) 10,087 Total on-balance sheet exposure to credit risk 2,201,445 (335,129) 1,866,316 1,965,589 (290,258) 1,675,331 Total off-balance sheet 940,185 — 940,185 893,246 — 893,246 – financial and other guarantees 96,147 — 96,147 95,967 — 95,967 – loan and other credit-related commitments 844,038 — 844,038 797,279 — 797,279 At 31 Dec 3,141,630 (335,129) 2,806,501 2,858,835 (290,258) 2,568,577 Credit deterioration of financial instruments (Audited) A summary of our current policies and practices regarding the identification, treatment and measurement of stage 1, stage 2, stage 3 (credit impaired) and POCI financial instruments can be found in Note 1.2 on the financial statements. Measurement uncertainty and sensitivity analysis of ECL estimates (Audited) The recognition and measurement of ECL involves the use of significant judgement and estimation. We form multiple economic scenarios based on economic forecasts, apply these assumptions to credit risk models to estimate future credit losses, and probability-weight the results to determine an unbiased ECL estimate. Management judgemental adjustments are used to address late-breaking events, data and model limitations, model deficiencies and expert credit judgements. Methodology Four economic scenarios have been used to capture the exceptional nature of the current economic environment and to articulate management’s view of the range of potential outcomes. Scenarios produced to calculate ECL are aligned to HSBC’s top and emerging risks. Three of these scenarios are drawn from consensus forecasts and distributional estimates. The Central scenario is deemed the ‘most likely’ scenario, and usually attracts the largest probability weighting, while the outer scenarios represent the tails of the distribution, which are less likely to occur. The Central scenario is created using the average of a panel of external forecasters, while consensus Upside and Downside scenarios are created with reference to distributions for select markets that capture forecasters’ views of the entire range of outcomes. Management has chosen to use an additional scenario to represent its view of severe downside risks. The use of an additional scenario is in line with HSBC’s forward economic guidance methodology and has been regularly used over the course of 2020. Management may include additional scenarios if it feels that the consensus scenarios do not adequately capture the top and emerging risks. Unlike the consensus scenarios, these additional scenarios are driven by narrative assumptions, could be country-specific and may result in shocks that drive economic activity permanently away from trend. Description of economic scenarios The economic assumptions presented in this section have been formed by HSBC with reference to external forecasts specifically for the purpose of calculating ECL. The world economy experienced a deep economic shock in 2020. As Covid-19 spread globally, governments in many of our markets sought to limit the human impact by imposing significant restrictions on mobility, in turn driving the deep falls in activity that were observed in the first half of the year. Restrictions were eased as cases declined in response to the initial measures, which supported an initial rebound in economic activity by the third quarter of 2020. This increase in mobility unfortunately led to renewed transmission of the virus in several countries, placing healthcare systems under significant burden, leading governments to reimpose restrictions on mobility and causing economic activity to decline once more. Economic forecasts are subject to a high degree of uncertainty in the current environment. Limitations of forecasts and economic models require a greater reliance on management judgement in addressing both the error inherent in economic forecasts and in assessing associated ECL outcomes. The scenarios used to calculate ECL in the Annual Report and Accounts 2020 are described below. The consensus Central scenario HSBC’s Central scenario features an improvement in economic growth in 2021 as activity and employment gradually return to the levels experienced prior to the outbreak of Covid-19. Despite the sharp contraction in activity, government support in advanced economies played a crucial role in averting significant financial distress. At the same time, central banks in our key markets implemented a variety of measures, which included lowering their main policy interest rates, implementing emergency support measures for funding markets, and either restarting or increasing quantitative easing programmes in order to support economies and the financial system. Across our key markets, governments and central banks are expected to continue to work together to ensure that households and firms receive an appropriate level of financial support until restrictions on economic activity and mobility can be materially eased. Such support intends to ensure that labour and housing markets do not experience abrupt, negative corrections and also intends to limit the extent of long-term structural damage to economies. Our Central scenario incorporates expectations that governments and public health authorities in our key markets will implement large vaccination programmes, first by inoculating critical groups and then increasing coverage to include the wider population. The deployment of mass vaccination programmes marks a significant step forward in combating the virus and will ease the burden on healthcare systems. We expect vaccination programmes across our key markets to contribute positively to recovery prospects and our Central scenario assumes a steady increase in the proportion of the population inoculated against Covid-19 over the course of 2021. Differences across markets in the speed and scale of economic recovery in the Central scenario reflect timing differences in the progression of the Covid-19 outbreak, national level differences in restrictions imposed, the coverage achieved by vaccination programmes and the scale of support measures. The key features of our Central scenario are: • Economic activity across our top eight markets will recover in 2021, supported by a successful roll-out of vaccination programmes. We expect vaccination programmes, coupled with effective non-pharmacological measures to contain the virus including ‘track and trace’ systems and restrictions to mobility, to lead to a significant decline in infections across our key markets by the end of 2021. • Where government support programmes are available, they will continue to provide support to labour markets and households in 2021. We expect a gradual reversion of the unemployment rate to pre-crisis levels over the course of the projection period as a result of economic recovery and due to the orderly withdrawal of government support. • Inflation will converge towards central bank targets in our key markets. • In advanced economies, government support in 2020 led to large deficits and a significant increase in public debt. This support is expected to continue as needed and deficits are expected to reduce gradually over the projection period. Sovereign debt levels will remain high and our Central scenario does not assume fiscal austerity. • Policy interest rates in key markets will remain at current levels for an extended period and will increase very modestly towards the end of our projection period. Central banks will continue to provide assistance through their asset purchase programmes as needed. • The West Texas Intermediate oil price is forecast to average $43 per barrel over the projection period. The following table describes key macroeconomic variables and the probabilities assigned in the consensus Central scenario. Central scenario 2021–2025 UK US Hong Kong Mainland China Canada France UAE Mexico % % % % % % % % GDP growth rate 2020: Annual average growth rate (11.0) (4.1) (6.4) 2.0 (6.1) (9.7) (6.3) (9.7) 2021: Annual average growth rate 4.9 3.8 4.3 7.8 5.0 5.9 3.0 3.7 2022: Annual average growth rate 3.1 2.9 2.9 5.3 3.1 2.9 3.6 2.5 2023: Annual average growth rate 2.4 2.4 2.6 5.2 2.4 2.2 3.9 2.4 5-year average 2.8 2.7 2.9 5.6 2.9 2.9 3.4 2.6 Unemployment rate 2020: Annual average rate 4.6 8.3 5.8 3.9 9.6 7.9 3.1 5.4 2021: Annual average rate 6.9 6.7 5.0 4.1 7.9 10.0 2.7 5.3 2022: Annual average rate 5.8 5.8 3.9 4.2 6.8 9.1 2.6 4.7 2023: Annual average rate 5.4 4.9 3.8 4.1 6.5 8.8 2.7 4.5 5-year average 5.6 5.3 4.0 4.0 6.8 9.0 2.7 4.6 House price growth 2020: Annual average growth rate 2.3 6.0 (0.8) 2.3 5.7 4.4 (11.6) 5.5 2021: Annual average growth rate (2.1) 4.0 (2.2) 4.7 2.1 (0.5) (9.8) 3.4 2022: Annual average growth rate 0.9 4.3 2.4 5.7 2.0 4.1 (1.3) 5.0 2023: Annual average growth rate 3.0 4.0 5.2 5.0 3.1 4.1 2.6 4.6 5-year average 1.9 4.0 2.3 4.7 2.7 2.8 — 4.2 Short-term interest rate 2020: Annual average rate 0.3 0.7 1.2 3.2 0.8 (0.4) 1.0 5.7 2021: Annual average rate 0.1 0.3 1.0 2.9 0.5 (0.5) 0.8 4.5 2022: Annual average rate 0.1 0.3 1.1 3.0 0.6 (0.5) 0.8 4.7 2023: Annual average rate 0.1 0.4 1.2 3.1 0.8 (0.5) 0.9 5.2 5-year average 0.2 0.5 1.3 3.1 0.8 (0.5) 1.0 5.2 Probability 40 65 70 80 70 40 65 65 The graphs comparing the respective Central scenarios in the fourth quarters of 2019 and 2020 reveal the extent of economic dislocation that occurred in 2020 and the impact this has had on central projections made at the end of 2019. The emergent nature of the Covid-19 outbreak at the end of 2019 meant that, consistent with other banks, HSBC’s Central scenario did not, on a forward-looking basis, consider the impact of the virus. Our Central scenario at the 2019 year-end projected moderate growth over a five-year horizon, with strong prospects for employment and a gradual increase in policy interest rates by central banks in the major economies of Europe and North America. The onset of the virus led to a fundamental reassessment of our Central forecast and the distribution of risks over the course of 2020. Our Central scenario at the end of 2020, as described above, is based on assumptions that are considerably different. GDP growth: Comparison UK Note: Real GDP shown as year-on-year percentage change. Hong Kong Note: Real GDP shown as year-on-year percentage change. US Note: Real GDP shown as year-on-year percentage change. Mainland China Note: Real GDP shown as year-on-year percentage change. The consensus Upside scenario Compared with the consensus Central scenario, the consensus Upside scenario features a faster recovery in economic activity during the first two years, before converging to long-run trends. The scenario is consistent with a number of key upside risk themes. These include the orderly and rapid global abatement of Covid-19 via successful containment and prompt deployment of a vaccine; de-escalation of tensions between the US and China; de-escalation of political tensions in Hong Kong; continued support from fiscal and monetary policy and smooth relations between the UK and the EU, which enables the two parties to swiftly reach a comprehensive agreement on trade and services. The following table describes key macroeconomic variables and the probabilities assigned in the consensus Upside scenario. Consensus Upside scenario best outcome UK US Hong Mainland Canada France UAE Mexico % % % % % % % % GDP growth rate 19.9 (2Q21) 11.8 (2Q21) 13.8 (4Q21) 20.5 (1Q21) 15.8 (2Q21) 19.5 (2Q21) 13.8 (4Q21) 16.8 (2Q21) Unemployment rate 3.7 (4Q22) 3.9 (4Q22) 3.0 (3Q22) 3.9 (4Q21) 5.3 (3Q22) 7.9 (4Q22) 2.2 (4Q21) 3.6 (3Q22) House price growth 6.9 (4Q22) 6.4 (1Q22) 4.9 (1Q22) 12.2 (1Q22) 5.2 (1Q21) 5.7 (2Q22) 18.5 (1Q22) 8.2 (3Q22) Short-term interest rate 0.1 (2Q22) 0.4 (1Q21) 1.1 (1Q21) 3.0 (1Q21) 0.6 (1Q21) (0.4) (1Q21) 0.9 (1Q21) 5.0 (1Q21) Probability consensus Upside 5 5 5 10 10 5 5 5 Note: Extreme point in the consensus Upside is ‘best outcome’ in the scenario, for example the highest GDP growth and the lowest unemployment rate, in the first two years of the scenario. Downside scenarios The year 2021 is expected to be a period of economic recovery, but the progression and management of the pandemic presents a key risk to global growth. A new and more contagious strain of the virus increased the transmission rate in the UK and resulted in stringent restrictions to mobility towards the end of 2020. This viral strain observed in the UK, together with aggressive strains observed in other countries including South Africa and Brazil, introduce the risk that transmission may increase significantly within the national borders of a number of countries in 2021 and also raise concerns around the efficacy of vaccines as the virus mutates. Some countries may keep significant restrictions to mobility in place for an extended period of time and at least until critical segments of the population can be inoculated. Further risks to international travel also arise. A number of vaccines have been developed and approved for use at a rapid pace and plans to inoculate significant proportions of national populations in 2021 across many of our key markets are a clear positive for economic recovery. While we expect vaccination programmes to be successful, governments and healthcare authorities face country-specific challenges that could affect the speed and spread of vaccinations. These challenges include the logistics of inoculating a significant proportion of national populations within a limited timeframe and the public acceptance of vaccines. On a global level, supply challenges could affect the pace of roll-out and the efficacy of vaccines is yet to be determined. Government support programmes in advanced economies in 2020 were supported by accommodative actions taken by central banks. These measures by governments and central banks have provided households and firms with significant support. An inability or unwillingness to continue with such support or the untimely withdrawal of support present a downside risk to growth. While Covid-19 and related risks dominate the economic outlook, geopolitical risks also present a threat. These risks include: • Continued long-term differences between the US and China, which could affect sentiment and restrict global economic activity. • The Covid-19 outbreak reduced the incidence of protests in Hong Kong. Despite the passage of the national security law in 2020, such unrest has the potential to return as the virus abates and restrictions to mobility ease. • The Trade and Cooperation Agreement between the UK and EU averted a disorderly UK departure from the EU, but the risk of f | Wholesale lending – reconciliation of changes in gross carrying/nominal amount and allowances for loans and advances to banks and customers including loan commitments and financial guarantees (Audited) Non-credit impaired Credit impaired Stage 1 Stage 2 Stage 3 POCI Total Gross carrying/ nominal amount Allowance for ECL Gross carrying/ nominal amount Allowance for ECL Gross carrying/ nominal amount Allowance for ECL Gross carrying/ nominal amount Allowance for ECL Gross carrying/ nominal amount Allowance for ECL $m $m $m $m $m $m $m $m $m $m At 1 Jan 2020 925,652 (867) 88,169 (1,103) 9,289 (3,906) 345 (99) 1,023,455 (5,975) Transfers of financial instruments (113,217) (493) 103,413 770 9,804 (277) — — — — Net remeasurement of ECL arising from transfer of stage — 476 — (603) — (742) — — — (869) Net new and further lending/ repayments 10,451 (437) (2,910) 141 (3,350) 583 (48) (1) 4,143 286 Change in risk parameters – credit quality — (261) — (2,349) — (3,120) — (39) — (5,769) Changes to models used for ECL calculation — 137 — 303 — — — — — 440 Assets written off — — — — (1,537) 1,537 (30) 30 (1,567) 1,567 Credit-related modifications that resulted in derecognition — — — — (23) 7 — — (23) 7 Foreign exchange and other 18,219 (20) 7,990 (157) 479 (123) 12 (4) 26,700 (304) At 31 Dec 2020 841,105 (1,465) 196,662 (2,998) 14,662 (6,041) 279 (113) 1,052,708 (10,617) ECL income statement change for the period (85) (2,508) (3,279) (40) (5,912) Recoveries 46 Others (59) Total ECL income statement change for the period (5,925) Wholesale lending – commercial real estate loans and advances including loan commitments by level of collateral for key countries/territories (by stage) (Audited) Of which: Total UK Hong Kong Gross carrying/nominal amount ECL coverage Gross carrying/nominal amount ECL coverage Gross carrying/nominal amount ECL coverage $m % $m % $m % Stage 1 Not collateralised 55,376 0.1 7,205 0.6 29,422 — Fully collateralised 71,915 0.2 14,053 0.2 33,386 — LTV ratio: – less than 50% 36,408 0.1 4,665 0.3 22,361 — – 51% to 75% 26,081 0.2 7,031 0.2 9,091 — – 76% to 90% 5,098 0.3 1,932 0.2 1,093 — – 91% to 100% 4,328 0.3 425 0.5 841 — Partially collateralised (A): 5,477 0.2 1,463 0.1 769 — – collateral value on A 3,486 912 594 Total 132,768 0.1 22,721 0.4 63,577 — Stage 2 Not collateralised 8,710 1.3 3,337 2.2 1,084 0.1 Fully collateralised 18,383 1.0 2,534 1.6 8,719 0.5 LTV ratio: – less than 50% 8,544 0.8 1,132 1.5 5,359 0.4 – 51% to 75% 8,097 1.1 1,020 2.0 2,955 0.8 – 76% to 90% 849 1.1 350 0.9 319 0.3 – 91% to 100% 893 1.0 32 3.1 86 — Partially collateralised (B): 1,260 1.0 713 0.8 196 1.0 – collateral value on B 517 246 147 Total 28,353 1.1 6,584 1.8 9,999 0.5 Stage 3 Not collateralised 1,038 45.3 635 50.7 — — Fully collateralised 583 11.5 348 9.5 20 5.0 LTV ratio: – less than 50% 177 13.6 56 5.4 11 — – 51% to 75% 161 15.5 128 12.5 3 — – 76% to 90% 149 6.7 139 5.8 — — – 91% to 100% 96 8.3 25 24.0 6 16.7 Partially collateralised (C): 474 45.6 195 27.7 — — – collateral value on C 331 120 — Total 2,095 35.9 1,178 34.7 20 5.0 POCI Not collateralised — — — — — — Fully collateralised 1 — — — — — LTV ratio: – less than 50% 1 — — — — — – 51% to 75% — — — — — — – 76% to 90% — — — — — — – 91% to 100% — — — — — — Partially collateralised (D): — — — — — — – collateral value on D — — — Total 1 — — — — — At 31 Dec 2020 163,217 0.8 30,483 2.0 73,596 0.1 Wholesale lending – commercial real estate loans and advances including loan commitments by level of collateral for key countries/territories (by stage) (continued) (Audited) Of which: Total UK Hong Kong Gross carrying/nominal amount ECL Gross carrying/nominal amount ECL Gross carrying/nominal amount ECL $m % $m % $m % Stage 1 Not collateralised 61,820 0.1 7,266 0.1 32,478 — Fully collateralised 89,319 0.1 18,535 — 41,798 — LTV ratio: – less than 50% 46,318 0.1 7,018 0.1 28,776 — – 51% to 75% 32,583 0.1 9,349 — 10,815 0.1 – 76% to 90% 5,018 0.1 1,649 0.1 1,436 0.1 – 91% to 100% 5,400 0.2 519 — 771 — Partially collateralised (A): 6,563 0.2 682 — 1,627 0.1 – collateral value on A 3,602 535 1,142 Total 157,702 0.1 26,483 0.1 75,903 — Stage 2 Not collateralised 3,040 1.2 1,857 1.2 440 0.2 Fully collateralised 5,184 1.1 1,419 1.2 1,501 0.6 LTV ratio: – less than 50% 2,167 1.1 615 1.8 955 0.3 – 51% to 75% 1,986 0.9 712 0.6 497 1.0 – 76% to 90% 333 2.1 16 6.3 29 — – 91% to 100% 698 1.1 76 1.3 20 — Partially collateralised (B): 500 0.6 296 0.3 42 — – collateral value on B 203 56 25 Total 8,724 1.1 3,572 1.1 1,983 0.5 Stage 3 Not collateralised 315 57.8 66 92.4 — — Fully collateralised 557 14.9 404 12.9 17 11.8 LTV ratio: – less than 50% 87 16.1 42 7.1 6 16.7 – 51% to 75% 90 7.8 69 4.3 10 — – 76% to 90% 89 15.7 72 4.2 — — – 91% to 100% 291 16.5 221 19.5 1 — Partially collateralised (C): 773 41.5 507 27.8 — — – collateral value on C 380 166 — Total 1,645 35.6 977 26.0 17 11.8 POCI Not collateralised — — — — — — Fully collateralised 1 — — — — — LTV ratio: – less than 50% 1 — — — — — – 51% to 75% — — — — — — – 76% to 90% — — — — — — – 91% to 100% — — — — — — Partially collateralised (D): — — — — — — – collateral value on D — — — Total 1 — — — — — At 31 Dec 2019 168,072 0.5 31,032 1.0 77,903 0.1 Wholesale lending – commercial real estate loans and advances including loan commitments by level of collateral for key countries/territories (Audited) Of which: Total UK Hong Kong Gross carrying/nominal amount ECL coverage Gross carrying/nominal amount ECL coverage Gross carrying/nominal amount ECL coverage $m % $m % $m % Rated CRR/PD1 to 7 Not collateralised 64,046 0.3 10,527 1.1 30,506 — Fully collateralised 89,664 0.3 16,483 0.4 41,861 0.1 Partially collateralised (A): 6,728 0.4 2,174 0.3 965 0.2 – collateral value on A 3,994 1,157 741 Total 160,438 0.3 29,184 0.6 73,332 — Rated CRR/PD8 Not collateralised 40 22.5 15 6.7 — — Fully collateralised 634 8.2 104 12.5 244 12.7 LTV ratio: – less than 50% 282 7.1 15 6.7 102 11.8 – 51% to 75% 321 9.0 75 13.3 138 13.0 – 76% to 90% 14 21.4 5 20.0 4 25.0 – 91% to 100% 17 — 9 — — — Partially collateralised (B): 9 11.1 2 50.0 — — – collateral value on B 9 1 — Total 683 9.1 121 12.4 244 12.7 Rated CRR/PD9 to 10 Not collateralised 1,038 45.3 635 50.7 — — Fully collateralised 584 11.5 348 9.5 20 5.0 LTV ratio: – less than 50% 178 13.5 56 5.4 11 — – 51% to 75% 161 15.5 128 12.5 3 — – 76% to 90% 149 6.7 139 5.8 — — – 91% to 100% 96 8.3 25 24.0 6 16.7 Partially collateralised (C): 474 45.6 195 27.7 — — – collateral value on C 331 120 — Total 2,096 35.9 1,178 34.7 20 5.0 At 31 Dec 2020 163,217 0.8 30,483 2.0 73,596 0.1 Rated CRR/PD1 to 7 Not collateralised 64,850 0.1 9,119 0.3 32,918 — Fully collateralised 94,299 0.1 19,833 0.1 43,299 0.1 Partially collateralised (A): 7,052 0.2 971 0.1 1,669 0.1 – collateral value on A 3,796 586 1,167 Total 166,201 0.1 29,923 0.1 77,886 — Rated CRR/PD8 Not collateralised 10 50.0 4 100.0 — — Fully collateralised 204 4.9 121 5.0 — — LTV ratio: – less than 50% 47 8.5 27 14.8 — — – 51% to 75% 120 3.3 68 1.5 — — – 76% to 90% 25 4.0 15 6.7 — — – 91% to 100% 12 8.3 11 — — — Partially collateralised (B): 11 — 7 — — — – collateral value on B 9 5 — Total 225 6.7 132 7.6 — — Rated CRR/PD9 to 10 Not collateralised 315 57.8 66 92.4 — — Fully collateralised 557 14.9 404 12.9 17 11.8 LTV ratio: – less than 50% 87 16.1 42 7.1 6 16.7 – 51% to 75% 90 7.8 69 4.3 10 — – 76% to 90% 89 15.7 72 4.2 — — – 91% to 100% 291 16.5 221 19.5 1 100.0 Partially collateralised (C): 774 41.6 507 27.8 — — – collateral value on C 380 166 — Total 1,646 35.7 977 26.0 17 11.8 At 31 Dec 2019 168,072 0.5 31,032 1.0 77,903 0.1 Wholesale lending – other corporate, commercial and financial (non-bank) loans and advances including loan commitments by level of collateral for key countries/territories (by stage) (Audited) Of which: Total UK Hong Kong Gross carrying/nominal amount ECL coverage Gross carrying/nominal amount ECL coverage Gross carrying/nominal amount ECL coverage $m % $m % $m % Stage 1 Not collateralised 617,592 0.2 122,554 0.4 95,061 0.1 Fully collateralised 110,528 0.2 28,232 0.3 40,207 0.1 LTV ratio: – less than 50% 37,991 0.1 7,367 0.3 14,744 0.1 – 51% to 75% 36,696 0.2 11,891 0.3 13,961 0.2 – 76% to 90% 13,542 0.2 2,624 0.4 6,522 0.1 – 91% to 100% 22,299 0.1 6,350 0.1 4,980 0.1 Partially collateralised (A): 52,892 0.2 6,826 0.5 19,163 0.1 – collateral value on A 25,903 3,524 9,208 Total 781,012 0.2 157,612 0.4 154,431 0.1 Stage 2 Not collateralised 118,959 1.6 37,430 2.6 19,466 0.4 Fully collateralised 37,753 1.3 9,316 2.1 15,044 0.8 LTV ratio: – less than 50% 11,992 1.3 2,498 1.5 3,920 0.7 – 51% to 75% 16,982 1.6 5,715 2.2 6,657 1.0 – 76% to 90% 3,727 1.2 502 3.2 2,150 0.7 – 91% to 100% 5,052 0.9 601 2.0 2,317 0.3 Partially collateralised (B): 16,829 1.5 3,984 2.7 3,849 0.9 – collateral value on B 9,425 1,714 2,104 Total 173,541 1.5 50,730 2.5 38,359 0.6 Stage 3 Not collateralised 7,852 50.0 2,793 28.5 865 66.0 Fully collateralised 1,939 17.3 585 7.9 342 6.4 LTV ratio: – less than 50% 637 24.0 151 8.6 83 6.0 – 51% to 75% 526 19.0 182 12.6 128 4.7 – 76% to 90% 294 9.2 211 1.9 49 14.3 – 91% to 100% 482 11.6 41 14.6 82 4.9 Partially collateralised (C): 2,847 35.5 553 23.1 592 26.4 – collateral value on C 1,619 337 322 Total 12,638 41.7 3,931 24.7 1,799 41.6 POCI Not collateralised 211 39.8 54 63.0 1 — Fully collateralised 63 41.3 — — 45 51.1 LTV ratio: – less than 50% 6 50.0 — — — — – 51% to 75% 11 9.1 — — 11 9.1 – 76% to 90% 34 64.7 — — 34 64.7 – 91% to 100% 12 — — — — — Partially collateralised (D): 4 75.0 — — — — – collateral value on D 4 — — Total 278 40.6 54 63.0 46 50.0 At 31 Dec 2020 967,469 1.0 212,327 1.3 194,635 0.6 Wholesale lending – other corporate, commercial and financial (non-bank) loans and advances including loan commitments by level of collateral for key countries/territories (by stage) (continued) (Audited) Of which: Total UK Hong Kong Gross carrying/nominal amount ECL coverage Gross carrying/nominal amount ECL coverage Gross carrying/nominal amount ECL coverage $m % $m % $m % Stage 1 Not collateralised 680,079 0.1 132,197 0.2 116,536 — Fully collateralised 128,290 0.1 40,172 0.1 32,818 0.1 LTV ratio: – less than 50% 48,012 0.1 13,831 0.1 11,009 0.1 – 51% to 75% 37,891 0.1 11,903 0.2 12,783 0.1 – 76% to 90% 13,072 0.1 3,399 0.2 4,697 0.1 – 91% to 100% 29,315 — 11,039 — 4,329 0.1 Partially collateralised (A): 52,890 0.1 8,122 0.1 20,162 0.1 – collateral value on A 25,824 3,809 9,616 Total 861,259 0.1 180,491 0.2 169,516 — Stage 2 Not collateralised 61,540 1.2 13,318 2.2 13,308 0.7 Fully collateralised 21,126 0.8 3,139 1.8 12,934 0.6 LTV ratio: – less than 50% 7,081 0.9 1,208 2.0 3,845 0.6 – 51% to 75% 8,482 0.9 1,111 1.8 5,580 0.7 – 76% to 90% 2,684 0.9 282 2.1 1,646 0.5 – 91% to 100% 2,879 0.6 538 1.3 1,863 0.2 Partially collateralised (B): 8,463 0.8 1,516 1.4 3,768 0.4 – collateral value on B 3,669 370 1,801 Total 91,129 1.1 17,973 2.1 30,010 0.6 Stage 3 Not collateralised 4,768 49.2 1,899 33.0 504 83.5 Fully collateralised 1,479 22.4 494 12.6 86 12.8 LTV ratio: – less than 50% 335 35.2 103 17.5 9 33.3 – 51% to 75% 352 24.4 198 8.6 21 4.8 – 76% to 90% 373 23.6 101 20.8 40 7.5 – 91% to 100% 419 9.1 92 7.6 16 25.0 Partially collateralised (C): 1,367 44.8 369 20.1 87 48.3 – collateral value on C 693 192 34 Total 7,614 43.2 2,762 27.6 677 70.0 POCI Not collateralised 223 32.7 32 96.9 7 — Fully collateralised 28 3.6 — — 10 — LTV ratio: – less than 50% 2 50.0 — — — — – 51% to 75% 26 — — — 10 — – 76% to 90% — — — — — — – 91% to 100% — — — — — — Partially collateralised (D): 97 33.0 57 1.8 31 90.3 – collateral value on D 57 19 30 Total 348 30.5 89 36.0 48 58.3 At 31 Dec 2019 960,350 0.5 201,315 0.7 200,251 0.4 Wholesale lending – other corporate, commercial and financial (non-bank) loans and advances including loan commitments by level of collateral for key countries/territories (Audited) Of which: Total UK Hong Kong Gross carrying/nominal amount ECL coverage Gross carrying/nominal amount ECL coverage Gross carrying/nominal amount ECL coverage $m % $m % $m % Rated CRR/PD8 Not collateralised 3,787 7.1 924 8.7 103 25.2 Fully collateralised 1,107 5.2 171 9.4 15 — LTV ratio: – less than 50% 269 4.1 29 10.3 1 — – 51% to 75% 480 6.3 87 6.9 — — – 76% to 90% 140 5.0 13 23.1 14 — – 91% to 100% 218 4.1 42 9.5 — — Partially collateralised (A): 493 8.1 174 9.2 27 3.7 – collateral value on A 352 83 13 Total 5,387 6.8 1,269 8.7 145 18.6 Rated CRR/PD9 to 10 Not collateralised 8,062 49.7 2,847 29.1 865 66.0 Fully collateralised 2,003 18.1 585 7.9 388 11.6 LTV ratio: – less than 50% 644 24.2 151 8.6 84 6.0 – 51% to 75% 538 18.8 182 12.6 139 5.0 – 76% to 90% 327 15.0 211 1.9 83 34.9 – 91% to 100% 494 11.3 41 14.6 82 4.9 Partially collateralised (B): 2,851 35.6 553 23.1 592 26.4 – collateral value on B 1,623 337 322 Total 12,916 41.7 3,985 25.2 1,845 41.8 At 31 Dec 2020 18,303 31.4 5,254 21.2 1,990 40.2 Rated CRR/PD8 Not collateralised 2,499 5.8 285 13.0 10 70.0 Fully collateralised 694 3.3 382 2.6 — — LTV ratio: – less than 50% 246 2.8 120 1.7 — — – 51% to 75% 189 4.2 93 3.2 — — – 76% to 90% 97 2.1 42 2.4 — — – 91% to 100% 162 3.7 127 3.9 — — Partially collateralised (A): 279 4.7 53 5.7 73 2.7 – collateral value on A 152 34 6 Total 3,472 5.2 720 6.9 83 12.0 Rated CRR/PD9 to 10 Not collateralised 4,991 48.5 1,930 34.1 510 82.5 Fully collateralised 1,507 22.0 494 12.6 96 11.5 LTV ratio: – less than 50% 338 35.2 103 17.5 10 — – 51% to 75% 377 22.8 198 8.6 30 3.3 – 76% to 90% 373 23.6 101 20.8 40 7.5 – 91% to 100% 419 9.1 92 7.6 16 — Partially collateralised (B): 1,464 44.0 427 17.6 119 58.8 – collateral value on B 750 211 64 Total 7,962 42.7 2,851 27.9 725 69.2 At 31 Dec 2019 11,434 31.3 3,571 23.7 808 63.4 Personal lending – residential mortgage loans including loan commitments by level of collateral for key countries/territories by stage (Audited) Of which: Total UK Hong Kong Gross carrying/nominal amount ECL coverage Gross carrying/nominal amount ECL coverage Gross carrying/nominal amount ECL coverage $m % $m % $m % Stage 1 Fully collateralised 354,102 — 159,562 — 90,733 — LTV ratio: – less than 50% 174,370 — 76,535 — 54,866 — – 51% to 60% 60,180 — 23,967 — 14,253 — – 61% to 70% 48,159 — 23,381 — 6,042 — – 71% to 80% 40,395 0.1 20,846 — 4,288 — – 81% to 90% 23,339 0.1 12,936 — 6,837 — – 91% to 100% 7,659 0.1 1,897 0.1 4,447 — Partially collateralised (A): 973 0.4 289 — 336 — LTV ratio: – 101% to 110% 592 0.4 84 — 334 — – 111% to 120% 101 0.5 45 — — — – greater than 120% 280 0.3 160 — 2 — – collateral value on A 847 212 328 Total 355,075 — 159,851 — 91,069 — Stage 2 Fully collateralised 12,252 1.5 4,229 1.4 1,802 — LTV ratio: – less than 50% 6,694 1.1 2,442 1.2 1,256 — – 51% to 60% 2,223 1.1 730 1.3 253 — – 61% to 70% 1,779 1.6 606 1.3 83 — – 71% to 80% 987 2.8 244 2.9 111 — – 81% to 90% 400 4.9 139 3.6 60 — – 91% to 100% 169 5.7 68 3.3 39 — Partially collateralised (B): 53 13.6 4 3.3 9 — LTV ratio: – 101% to 110% 28 11.9 3 1.5 9 — – 111% to 120% 9 16.8 — — — — – greater than 120% 16 14.8 1 8.5 — — – collateral value on B 47 4 9 Total 12,305 1.5 4,233 1.4 1,811 — Stage 3 Fully collateralised 3,083 9.8 1,050 12.3 63 — LTV ratio: – less than 50% 1,472 8.0 676 10.9 53 — – 51% to 60% 505 8.7 144 15.1 6 — – 61% to 70% 435 9.2 112 12.9 — — – 71% to 80% 378 11.5 81 13.7 2 — – 81% to 90% 195 17.3 28 22.4 2 — – 91% to 100% 98 24.3 9 17.8 — — Partially collateralised (C): 328 42.7 17 22.9 — — LTV ratio: – 101% to 110% 75 30.4 9 16.7 — — – 111% to 120% 56 38.8 5 17.6 — — – greater than 120% 197 48.5 3 50.3 — — – collateral value on C 228 10 1 Total 3,411 13.0 1,067 12.5 63 — At 31 Dec 2020 370,791 0.2 165,151 0.1 92,943 — Personal lending – residential mortgage loans including loan commitments by level of collateral for key countries/territories by stage (continued) (Audited) Of which: Total UK Hong Kong Gross carrying/nominal amount ECL coverage Gross carrying/nominal amount ECL coverage Gross carrying/nominal amount ECL coverage $m % $m % $m % Stage 1 Fully collateralised 326,510 — 143,772 — 86,049 — LTV ratio: – less than 50% 168,923 — 70,315 — 57,043 — – 51% to 60% 55,287 — 21,898 — 13,169 — – 61% to 70% 44,208 — 19,903 — 6,478 — – 71% to 80% 33,049 — 17,649 — 3,195 — – 81% to 90% 18,157 — 11,127 — 3,685 — – 91% to 100% 6,886 — 2,880 — 2,479 — Partially collateralised (A): 1,384 0.1 326 — 284 — LTV ratio: – 101% to 110% 843 0.1 89 — 281 — – 111% to 120% 195 0.2 48 — 1 — – greater than 120% 346 0.1 189 — 2 — – collateral value on A 1,232 232 279 Total 327,894 — 144,098 — 86,333 — Stage 2 Fully collateralised 7,087 0.9 1,941 1.0 1,116 — LTV ratio: – less than 50% 3,781 0.5 1,146 0.7 892 — – 51% to 60% 923 1.1 233 1.5 95 — – 61% to 70% 909 1.2 262 1.2 59 — – 71% to 80% 894 1.1 231 1.0 32 — – 81% to 90% 425 1.6 36 2.9 25 — – 91% to 100% 155 4.4 33 1.8 13 — Partially collateralised (B): 76 7.2 23 1.8 1 — LTV ratio: – 101% to 110% 45 5.4 20 1.5 1 — – 111% to 120% 10 11.1 1 4.8 — — – greater than 120% 21 9.0 2 3.0 — — – collateral value on B 69 20 1 Total 7,163 1.0 1,964 1.0 1,117 — Stage 3 Fully collateralised 2,725 9.0 1,177 9.9 44 0.5 LTV ratio: – less than 50% 1,337 7.1 711 7.8 39 0.5 – 51% to 60% 410 7.0 159 10.0 3 0.2 – 61% to 70% 358 7.9 136 10.6 — — – 71% to 80% 309 13.4 100 18.9 1 — – 81% to 90% 178 13.8 47 12.3 1 — – 91% to 100% 133 21.8 24 26.3 — — Partially collateralised (C): 371 47.6 25 27.3 — — LTV ratio: – 101% to 110% 97 36.4 11 19.1 — — – 111% to 120% 62 37.8 6 22.7 — — – greater than 120% 212 55.6 8 42.0 — — – collateral value on C 305 24 — Total 3,096 13.7 1,202 10.3 44 0.5 At 31 Dec 2019 338,153 0.2 147,264 0.1 87,494 — Funding sources (Audited) 2020 2019 $m $m Customer accounts 1,642,780 1,439,115 Deposits by banks 82,080 59,022 Repurchase agreements – non-trading 111,901 140,344 Debt securities in issue 95,492 104,555 Cash collateral, margin and settlement accounts 78,565 71,002 Subordinated liabilities 21,951 24,600 Financial liabilities designated at fair value 157,439 164,466 Liabilities under insurance contracts 107,191 97,439 Trading liabilities 75,266 83,170 – repos 11,728 558 – stock lending 4,597 9,702 – other trading liabilities 58,941 72,910 Total equity 204,995 192,668 Other balance sheet liabilities 406,504 338,771 At 31 Dec 2,984,164 2,715,152 Funding uses (Audited) 2020 2019 Footnotes $m $m Loans and advances to customers 1,037,987 1,036,743 Loans and advances to banks 81,616 69,203 Reverse repurchase agreements – non-trading 230,628 240,862 Prepayments, accrued income and other assets 1 76,859 63,891 – cash collateral, margin and settlement accounts 76,859 63,891 Assets held for sale 299 123 Trading assets 231,990 254,271 – reverse repos 13,990 13,659 – stock borrowing 8,286 7,691 – other trading assets 209,714 232,921 Financial investments 490,693 443,312 Cash and balances with central banks 304,481 154,099 Other balance sheet assets 529,611 452,648 At 31 Dec 2,984,164 2,715,152 1 Includes only those financial instruments that are subject to the impairment requirements of IFRS 9. ‘Prepayments, accrued income and other assets’, as presented within the consolidated balance sheet on page 316, includes both financial and non-financial assets. The Group trading VaR for the year is shown in the table below. Trading VaR, 99% 1 day 1 (Audited) Foreign Interest Equity Credit Portfolio diversification 2 Total 3 $m $m $m $m $m $m Balance at 31 Dec 2020 13.7 20.3 21.5 24.3 (36.4) 43.4 Average 11.0 26.6 27.3 21.6 (38.3) 48.1 Maximum 25.7 43.5 42.0 44.1 69.3 Minimum 5.6 19.1 13.6 12.6 33.6 Balance at 31 Dec 2019 7.7 28.2 15.7 15.2 (26.4) 40.3 Average 6.9 29.9 16.2 23.7 (29.0) 47.8 Maximum 13.5 36.5 24.9 33.2 59.3 Minimum 4.1 22.9 12.4 11.7 33.3 1 Trading portfolios comprise positions arising from the market-making and warehousing of customer-derived positions. 2 Portfolio diversification is the market risk dispersion effect of holding a portfolio containing different risk types. It represents the reduction in unsystematic market risk that occurs when combining a number of different risk types – such as interest rate, equity and foreign exchange – together in one portfolio. It is measured as the difference between the sum of the VaR by individual risk type and the combined total VaR. A negative number represents the benefit of portfolio diversification. As the maximum and minimum occurs on different days for different risk types, it is not meaningful to calculate a portfolio diversification benefit for these measures. 3 The total VaR is non-additive across risk types due to diversification effects. |
Report of Directors Corporate G
Report of Directors Corporate Governance | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Report Of Directors Corporate Governance [Abstract] | ||
Disclosure of audited information included in report of directors corporate governance | Single figure of remuneration (Audited) The following table shows the single figure of total remuneration of each executive Director for 2020, together with comparative figures. Single figure of remuneration Noel Quinn 1 Ewen Stevenson (£000) 2020 2019 2020 2019 Base salary 2 1,266 503 738 719 Fixed pay allowance 1,700 695 950 950 Cash in lieu of pension 127 50 74 107 Taxable benefits 3 186 41 12 16 Non-taxable benefits 3 59 23 32 28 Total fixed 3,338 1,312 1,806 1,820 Annual incentive 4 799 665 450 1,082 Notional returns 5 17 — — — Replacement award 6 — — 1,431 1,974 Total variable 816 665 1,881 3,056 Total fixed and variable 4,154 1,977 3,687 4,876 1 Noel Quinn succeeded John Flint as interim Group Chief Executive with effect from 5 August 2019 and was appointed permanently into the role on 17 March 2020. The remuneration included in the single figure table above for 2019 is in respect of his services provided as an executive Director for that year. 2 As outlined on page 272, the executive Directors each donated a quarter of their base salary for six months in 2020. The base salary shown in the single figure of remuneration is the gross salary before charitable donations. 3 Taxable benefits include the provision of medical insurance, accommodation, car and tax return assistance (including any associated tax due, where applicable). Non-taxable benefits include the provision of life assurance and other insurance cover. 4 Under the policy approved by shareholders, executive Directors can receive 50% of their annual incentive award in cash and the remaining 50% in immediately vested shares subject to a one one 5 'Notional returns' refers to the notional return on deferred cash for awards made in prior years. The deferred cash portion of the annual incentive granted in prior years includes a right to receive notional returns for the period between the grant date and vesting date, which is determined by reference to a rate of return specified at the time of grant. A payment of notional return is made annually and the amount is disclosed on a paid basis in the year in which the payment is made. 6 As set out in the 2018 Directors' remuneration report, in 2019 Ewen Stevenson was granted replacement awards to replace unvested awards, which were forfeited as a result of him joining HSBC. The awards, in general, match the performance, vesting and retention periods attached to the awards forfeited, and will be subject to any performance adjustments that would otherwise have been applied. The values included in the table for 2019 relate to Ewen Stevenson's 2015 and 2016 LTI awards granted by The Royal Bank of Scotland Group plc ('RBS') for performance years 2014 and 2015, respectively, and replaced with HSBC shares when Ewen Stevenson joined HSBC. These awards are not subject to further performance conditions and commenced vesting in March 2019. The total value is an aggregate of £1,121,308 for the 2015 LTI and £852,652 for the 2016 LTI. The 2016 LTI award value has been determined by applying the performance assessment outcome of 27.5% as disclosed in RBS's Annual Report and Accounts 2018 (page 70) to the maximum number of shares subject to performance conditions. Values in the table for 2020 relate to his 2017 LTI award granted by RBS for performance year 2016, which was determined by applying the performance assessment outcome of 56.25% as disclosed in RBS's Annual Report and Accounts 2019 (page 91) to the maximum number of shares subject to performance conditions. This resulted in a payout equivalent to 78.09% of the RBS award shares that were forfeited and replaced with HSBC shares. A total of 313,608 shares were granted in respect of his 2017 LTI replacement award at a share price of £6.643. The HSBC share price was £5.845 when the awards ceased to be subject to performance conditions, with no value attributable to share price appreciation. Benefits The values of the significant benefits in the single figure table are set out in the following table 1 . Noel Quinn (£000) 2020 2019 Insurance benefit (non-taxable) 51 — Car and driver (UK and Hong Kong) 139 — 1 The value of benefits provided to Noel Quinn in 2019 were not deemed significant. The insurance and car benefits for Ewen Stevenson are not included in the above table as they were not deemed significant. Personal measures for the Group Chief Executive and Group Chief Financial Officer Objectives Performance Group Chief Executive Simplify the Group operating model • As part of the Group transformation programme, we commenced work on 'organisation simplification and design' by defining roles with clear accountabilities and decision rights, simplifying and minimising matrix reporting and realising transformation objectives through the redesign of certain structures across businesses and functions. • The programme successfully delivered all key milestones in 2020, including: the establishment of design principles to shape the future organisation model and structures; the creation of the Group Organisational Design Authority to drive consistent design thinking; the simplification of the Group Executive Committee and the introduction of a clear operating rhythm to increase discipline and focus on strategy and performance delivery; the redesign of the majority of top leadership structures; the definition of a consistent role taxonomy across business and functions; and the identification of reductions in FTEs and cost, principally at senior levels. Group Chief Financial Officer • Deploy Cloud technologies in Global Finance function • Reduce Finance function costs and number of full-time equivalents • The Finance on the Cloud programme will transform the way the Global Finance function operates by rationalising operational processes, automation of data production and providing faster delivery of comprehensive data to our internal and external stakeholders. The programme has progressed into the execution phase in 2020, with the programme design, scope and implementation approach approved. • The first phase of implementation, which relates to the risk-weighted assets reporting process for our UK entities, was successfully implemented in November 2020. Execution plans are in place for the further extension of Cloud technologies within the UK pilot in 2021, followed by a global deployment. • The target of reducing Finance function costs to $0.8bn was met, but the target number of full-time equivalent staff in the function was not achieved. 2017 long-term incentive performance The 2017 LTI award was granted to Marc Moses (former Group Chief Risk Officer) and Iain Mackay (former Group Finance Director) 1 . Assessment of the LTI award in respect of 2017 (granted in 2018) Measures (with weighting) Minimum (25% payout) Target (50% payout) Maximum (100% payout) Actual Assessment Outcome Average return on equity (with CET1 underpin) 2 (20%) 9.0% 10.0% 11.0% 7.3% 0.0% 0.00% Cost-efficiency ratio (20%) 60.0% 58.0% 55.5% 62.4% 0.0% 0.00% Relative total shareholder return 3 (20%) At median of Straight-line vesting between minimum and maximum At upper quartile of Rank 11th 0.0% 0.00% Risk and compliance 4 (25%) • Achieve and sustain compliance with Global Financial Crime Compliance policies and procedures. • Achieve a sustainable adoption of Group operation risk management framework, along with its policies and practices. • Achieve and sustain delivery of global conduct outcomes and compliance with conduct of business regulatory obligations. Performance assessed by the Committee based on a number of qualitative and quantitative inputs such as Group Financial Crime Risk assessment against Financial Crime Compliance objectives, outcome of assurance and audit reviews, and achievement of long-term Group objectives and priorities during the performance period, with input and approval from the Group Risk Committee. 65.0% 65.0% 16.25% Strategy (15%) Sustainable finance ($bn) 5 30.0 34.0 37.0 93.0 100.0% 5.00% Employee confidence 6 65.0% 67.0% 70.0% 62.0% 0.0% 0.00% Customer Improvement in Improvement in Improvement in Improvement in three of top five markets 25.0% 1.25% Total 7 22.50% 1 Based on the scorecard outcome, 29,655 shares will vest with Iain Mackay and 86,491 shares will vest with Marc Moses (determined by pro-rating their awards for time in employment during the performance period of 1 January 2018 to 31 December 2020). The awards will vest in five equal annual instalments commencing in March 2021. Using the average daily closing share prices over the three months to 31 December 2020 of £3.604 the value of awards to vest with Iain Mackay and Marc Moses is £106,877 and £311,714, respectively. 2 Significant items are excluded from the profit attributable to ordinary shareholders of the company for the purpose of computing adjusted return on equity. 3 The peer group for the 2017 award is: Bank of America, Barclays, BNP Paribas, Citigroup, Credit Suisse Group, DBS Group Holdings, Deutsche Bank, JPMorgan Chase & Co., Lloyds Banking Group, Standard Chartered and UBS Group. 4 The performance outcome was reviewed and approved by the Group Risk Committee taking into account evidence of progress made during the three 5 Assessed based on cumulative financing and investment made to develop clean energy, lower-carbon technologies and projects that contribute to the delivery of the Paris Agreement and the UN Sustainable Development Goals. 6 Assessed based on results of the latest employee Snapshot survey question, ‘I am seeing the positive impact of our strategy’. 7 Taking into consideration the overall performance of the Group using a number of internal and external measures, including profit before tax, RoTE, share price and total shareholder returns, the Committee considered that the scorecard outcomes reflected the performance achieved. Long-term incentive awards (Audited) Long-term incentive in respect of 2020 After taking into account performance for 2020, the Committee decided to grant Noel Quinn and Ewen Stevenson LTI awards of £3,718,000 and £2,118,000, respectively. These awards will be subject to 'windfall gain' adjustments, as set out below. As the awards are not entitled to dividend equivalents in accordance with regulatory requirements, the number of shares to be awarded will be adjusted to reflect the expected dividend yield of the shares over the vesting period. The 2020 LTI awards will have a three RoTE was retained as a metric as it remains a key measure of our financial performance and how we generate returns that deliver value for our shareholders. Given the uncertainty from the economic impact of the Covid-19 outbreak, the Committee determined it was most appropriate to assess RoTE at the end of the performance period. This element of the award will continue to be subject to a CET1 underpin. Capital reallocation to Asia was added as a new metric as this is one of the key levers of our strategy and business transformation plan. This measure will be assessed based on the share of Group tangible equity allocated to Asia at the end of the performance period and is also subject to the CET1 underpin. The environment and sustainability scorecard measure was added to align to our new climate ambition. Announced in October 2020, we set out how we aim to bring carbon emissions in our own operations to net zero by 2030 and support our customers in the transition to a more sustainable future with financing, facilitation and investments of $750bn to $1tn over the same time period. Scorecard targets are linked to this climate ambition and performance will be assessed based on the reduction in our carbon footprint and the financing we provide to our clients in their net zero transition. Relative TSR was retained as a metric in the scorecard as it rewards executive Directors based on comparison of the total shareholder return performance of the Group and a relevant peer group. No changes were made to the peer group used for this purpose. Given the planned strategic shifts in our geographical and business mix, notably future growth investment in Asia and wealth business, we will review our peer group for any relative TSR measure to be used for the 2021 LTI scorecard. The updated peer group will be set out in the Annual Report and Accounts 2021 . The LTI continues to be subject to a risk and compliance modifier, which gives the Committee the discretion to adjust down the overall scorecard outcome to ensure that the Group operates soundly when achieving its financial targets. For this purpose, the Committee will receive information including any risk metrics outside of tolerance for a significant period of time and any risk management failures that have resulted in significant customer detriment, reputational damage and/or regulatory censure. To the extent performance conditions are satisfied at the end of the three Performance conditions for LTI awards in respect of 2020 Measures Minimum (25% payout) Target (50% payout) Maximum (100% payout) Weighting % RoTE (with CET1 underpin) 1 8.0% 9.0% 10.0% 25.0 Capital reallocation to Asia (with CET1 underpin) 2 45.0% 47.0% 50.0% 25.0 Environment and sustainability 3 Carbon reduction 42.0% 48.0% 51.0% 25.0 Sustainable finance and investment $bn 200.0 240.0 260.0 Relative TSR 4 At median of the peer group Straight-line vesting between minimum and maximum At upper quartile of peer group 25.0 1 To be assessed based on RoTE at the end of the performance period. The measure will also be subject to a CET1 underpin. If the CET1 ratio at the end of the performance period is below the CET1 risk tolerance level set in the risk appetite statement, then the assessment for this measure will be reduced to nil. 2 To be assessed based on share of Group tangible equity (on a constant currency basis and excluding associates) allocated to Asia by 31 December 2023. This metric will be measured on an organic basis and will exclude changes in Group tangible equity allocation resulting from acquisitions and disposals (and also part-acquisitions or part-disposals) of businesses and is subject to the CET1 underpin outlined above. 3 Carbon reduction will be measured based on percentage reduction in total energy and travel emissions achieved by 31 December 2023 using 2019 as the baseline. A sustainable finance and investment metric will assess cumulative financing provided over the period commencing on 1 January 2020 and ending on 31 December 2023. 4 The peer group for the 2020 award is: Bank of America, Barclays, BNP Paribas, Citigroup, Credit Suisse Group, DBS Group Holdings, Deutsche Bank, J.P. Morgan Chase & Co., Lloyds Banking Group, Morgan Stanley, Standard Chartered and UBS Group. 5 Awards will vest on a straight-line basis for performance between the minimum, target and maximum levels of performance set in this table. 2020 LTI grant size The Committee is conscious of the external commentary on 'windfall gains' from LTI awards given the impact of the Covid-19 outbreak. The Committee is also aware that a number of investors have expressed their preference that, where executives may benefit from 'windfall gains', the Committee is proactive in considering award levels at the time of grant. Based on the above and discussions with investors and proxy voting agencies, the Committee agreed that the 2020 LTI awards should be subject to a 'windfall gain' adjustment at grant if the share price falls significantly relative to the grant price of the 2019 LTI. This is to ensure reward for our executive Directors aligns with the experience of our shareholders and is reflective of management performance over the performance period. While the share price to be used for the 2020 LTI award is not known at this stage, the Committee agreed that, in line with investor expectations, if the 2020 LTI grant share price experiences a greater than 30% decline since the previous grant, this would be considered a material fall in share price (based on review of historical share price volatility and the impact of significant external macroeconomic events). In such an event, an adjustment percentage equal to half the share price percentage decline will be applied to the awards to mitigate the potential for 'windfall gains'. This approach will apply to the 2020 LTI award to be granted in 2021. 2018 long-term incentive award The LTI granted in respect of 2018 included an ESG measure based on our objective disclosed in the Strategy Update in June 2018 to achieve an 'Outperformer' rating from ratings provider Sustainalytics. Our 2018 Directors' remuneration report noted that in the event Sustainalytics changed its rating approach, the Committee retained the discretion to review and modify the assessment approach and targets to ensure the assessment approach achieved its original purpose. Sustainalytics has since revised its methodology and replaced 'performer' ratings with low, medium and high risk ratings. In 2020, the Committee approved a revised assessment approach and targets that aim for HSBC to 'outperform' a set of peers using Sustainalytics' revised risk-based rating as detailed in the table below. The Committee is comfortable that the proposed targets are no more or less difficult to achieve than the original proposed targets. Performance conditions for LTI awards in respect of 2018 Measures Minimum (25% payout) Target (50% payout) Maximum (100% payout) Weighting % Average RoTE (with CET1 underpin) 1 10.0% 11.0% 12.0% 75.0 Employer advocacy 2 65.0% 70.0% 75.0% 12.5 Environmental, social and governance rank 3 At median of the peer group Straight-line vesting between minimum and maximum At upper quartile of peer group 12.5 1 If the CET1 ratio at the end of performance period is below the CET1 risk tolerance level set in the risk appetite statement, then the assessment for this measure will be reduced to nil. 2 To be assessed based on results of the latest employee Snapshot survey question: 'I would recommend this company as a great place to work'. 3 Peer group (in line with TSR peer group for the 2017 LTI, including three additional peers): Bank of America, Barclays, BNP Paribas, Citigroup, Credit Suisse Group, Deutsche Bank, DBS Group Holdings, J.P. Morgan Chase & Co., Lloyds Banking Group, Standard Chartered, UBS Group, ICBC, Itau and Santander. Scheme interests awarded during 2020 (Audited) The table below sets out the scheme interests awarded to Directors in 2020, as disclosed in the 2019 Directors’ remuneration report. No non-executive Directors received scheme interests during the financial year. Scheme awards in 2020 (Audited) Type of interest awarded Basis on which Date of award Face value awarded 1 £000 Percentage receivable for minimum performance Number of End of performance period Ewen Stevenson LTI deferred shares 2 % of salary 2 24 February 2020 2,680 25 476,757 31 December 2022 Noel Quinn Deferred shares 3 Annual incentive 24 February 2020 1,134 — 201,702 31 December 2019 Deferred cash 3 Annual incentive 24 February 2020 886 — N/A 31 December 2019 1 The face value of the award has been computed using HSBC's closing share price of £5.622 taken on 21 February 2020. LTI awards are subject to a three one 2 In line with regulatory requirements, scheme interests awarded during 2020 were not eligible for dividend equivalents. In accordance with the remuneration policy approved by shareholders at the 2019 AGM, the LTI award was determined at 290% of salary for Ewen Stevenson and the number of shares to be granted was determined by taking into account a share price discounted based on HSBC’s expected dividend yield of 5% per annum for the vesting period (i.e. £4.393). Noel Quinn did not receive the 2019 LTI award that was granted on 24 February 2020, as he was in the Group Chief Executive role in an interim capacity during 2019. 3 2019 annual incentive award received by Noel Quinn for his role as Chief Executive Officer of Commercial Banking and interim Group Chief Executive. As noted in the Annual Report and Accounts 2019 , 60% of his annual incentive award was deferred and in line with regulatory requirements split between cash and shares. The awards will vest in five equal annual instalments between the third and seventh anniversary of the award date. On vesting, the deferred shares will be subject to a one The above table does not include details of shares issued as part of the fixed pay allowance and shares issued as part of the 2020 annual incentive award that vested on grant and were not subject to any further service or performance conditions. Details of the performance measures and targets for the LTI award in respect of 2019 are set out on the following page. Performance conditions for LTI awards in respect of 2019 Measures Minimum (25% payout) Target (50% payout) Maximum (100% payout) Weighting % RoTE (with CET1 underpin) 1, 2 10.0% 11.0% 12.0% 33.3 Relative TSR 3 At median of the peer group Straight-line vesting between minimum and maximum At upper quartile of peer group 33.3 Customers Performance will be assessed by the Committee taking into consideration: • customer satisfaction scores at the start and end of the three • progress against customer objectives linked to our strategy over the next three years. 33.3 1 To be assessed based on RoTE in the 2022 financial year. The measure will also be subject to a CET1 underpin. If the CET1 ratio at the end of performance period is below the CET1 risk tolerance level set in the risk appetite statement, then the assessment for this measure will be reduced to nil. 2 Awards will vest on a straight-line basis for performance between the minimum, target and maximum levels of performance set in this table. 3 The peer group for the 2019 award is: Bank of America, Barclays, BNP Paribas, Citigroup, Credit Suisse Group, DBS Group Holdings, Deutsche Bank, J.P. Morgan Chase & Co., Lloyds Banking Group, Morgan Stanley, Standard Chartered and UBS Group. Executive Directors’ interests in shares (Audited) The shareholdings of all persons who were executive Directors in 2020, including the shareholdings of their connected persons, at 31 December 2020 (or the date they stepped down from the Board, if earlier) are set out below. The following table shows the comparison of shareholdings with the company shareholding guidelines. There have been no changes in the shareholdings of the executive Directors from 31 December 2020 to the date of this report. Individuals are given five years from their appointment date to build up the recommended levels of shareholding. Unvested share-based incentives are not normally taken into consideration in assessing whether the shareholding requirement has been met. The Committee reviews compliance with the shareholding requirement and has full discretion in determining if any unvested shares should be taken into consideration for assessing compliance with this requirement, taking into account shareholder expectations and guidelines. The Committee also has full discretion in determining any penalties for non-compliance. With regard to the post-employment shareholding requirement, we believe that our remuneration structure achieves the objective of ensuring there is ongoing alignment of executive Directors' interests with shareholder experience post-cessation of their employment due to the following features of the policy: • Shares delivered to executive Directors as part of the FPA have a five • Shares delivered as part of an annual incentive award are subject to a one • When an executive Director ceases employment as a good leaver under our policy, any LTI awards granted will continue to be released over a period of up to eight years, subject to the outcome of performance conditions. An executive Director who ceases employment as a good leaver after a tenure of five years will have share interests not subject to further performance conditions equivalent in value to more than 400% of salary assuming they receive a target payout of 50% for LTI awards. HSBC operates an anti-hedging policy under which individuals are not permitted to enter into any personal hedging strategies in relation to HSBC shares subject to a vesting and/or retention period. Shares (Audited) Shareholding guidelines Shareholding at 31 Dec 2020 2 (% of salary) At 31 Dec 2020 Scheme interests Share Share options 3 Shares awarded subject to deferral 1 without performance conditions 4 with performance conditions 5 Executive Directors Noel Quinn 6 400% 221 % 778,958 — 554,556 — Ewen Stevenson 6 300% 265 % 545,731 — 728,790 476,757 Group Managing Directors 6 250% n/a n/a n/a n/a n/a 1 The gross number of shares is disclosed. A portion of these shares will be sold at vesting to cover any income tax and social security that falls due at the time of vesting. 2 The value of the shareholding is calculated using an average of the daily closing share prices in the three months to 31 December 2020 (£3.604). 3 As at 31 December 2020, Noel Quinn and Ewen Stevenson did not hold any options under the HSBC Holdings Savings-Related Share Option Plan (UK). 4 The amount for Ewen Stevenson reflects the award granted in May 2019, replacing the 2015 to 2018 LTIs forfeited by the Royal Bank of Scotland Group plc (‘RBS’) and is subject to any performance adjustments assessed and disclosed in the relevant Annual Report and Accounts of RBS. 5 LTI awards granted in February 2020 are subject to the performance conditions as set out on page 287. 6 All Group Managing Directors and executive Directors are expected to meet their shareholding guidelines within five years of the date of their appointment (Noel Quinn and Ewen Stevenson were appointed on 5 August 2019 and 1 January 2019 respectively).The shareholding guidelines for Group Managing Directors have been updated from 250,000 shares to 250% of reference salary from 1 January 2019 to align with the approach used for executive Directors. Non-executive Directors (Audited) The following table shows the total fees and benefits of non-executive Directors for 2020, together with comparative figures for 2019. Fees and benefits (Audited) Fees 1 Benefits 2 Total (£000) Footnotes 2020 2019 2020 2019 2020 2019 Kathleen Casey (retired on 24 April 2020) 3,4 78 223 27 9 105 232 Laura Cha 5 587 298 — — 587 298 Henri de Castries 202 194 1 4 203 198 James Forese 6 160 — — — 160 — Steven Guggenheimer 7 134 — — — 134 — Irene Lee 8 546 454 — 3 546 457 José Antonio Meade Kuribreña 202 157 4 2 206 159 Heidi Miller 9 632 625 7 2 639 627 Eileen Murray 10 120 — — — 120 — David Nish 11 480 230 8 16 488 246 Sir Jonathan Symonds (retired on 18 February 2020) 86 638 20 21 106 659 Jackson Tai 12 355 398 12 57 367 455 Mark Tucker 13 1,500 1,500 52 231 1,552 1,731 Pauline van der Meer Mohr 14 312 265 2 8 314 273 Total (£000) 5,394 4,982 133 353 5,527 5,335 Total ($000) 6,919 6,390 171 453 7,090 6,843 1 The Directors' remuneration policy was approved at the 2019 AGM and the new fees became effective from 13 April 2019. Fees include a travel allowance of £4,000 for non-UK based non-executive Directors and for all non-executive Directors effective from 1 June 2019. Given the travel restrictions in place, the Board was unable to travel to attend meetings in person. Therefore, the travel allowance available to all non-executive Directors was pro-rated to reflect the travel required of the Board during 2020. 2 Benefits include taxable expenses such as accommodation, travel and subsistence relating to attendance at Board and other meetings at HSBC Holdings' registered offices. Amounts disclosed have been grossed up using a tax rate of 45%, where relevant. 3 Appointed as a member of the Group Risk Committee on 17 January 2020. 4 Stepped down as a member of the Financial System Vulnerabilities Committee on 17 January 2020 when the Committee was demised. 5 Includes fees of £423,800 (2019: £104,000) for her role as non-executive Chair and member of the Nomination Committee of The Hongkong and Shanghai Banking Corporation. Following approval of the non-executive Chair fee by the Group Remuneration Committee in 2020, Laura also received a pro-rated additional Chair fee of HK$201,639 paid in respect of the period from 6 December to 31 December 2019. 6 Appointed to the Board and a member of the Group Audit Committee, Group Remuneration Committee and Nomination & Corporate Governance Committee on 1 May 2020. 7 Appointed to the Board and as a member of the Group Risk Committee and Nomination & Corporate Governance Committee on 1 May 2020. 8 Includes fees of £344,000 (2019: £260,000) in relation to her roles as a Director, Remuneration Committee Chair, Audit Committee member and Risk Committee member of The Hongkong and Shanghai Banking Corporation Limited. Fees in relation to her role as a Director, Risk Committee Chair and Audit Committee member, and from 28 December 2020 as a member of the Nomination Committee, of Hang Seng Bank Limited. 9 Includes fees of £430,000 (2019: £431,000) in relation to her role as Chair of HSBC North America Holdings Inc. 10 Appointed to the Board and as member of the Group Audit Committee, Group Risk Committee and Nomination & Corporate Governance Committee on 1 July 2020. 11 Appointed as Senior Independent Director, Chair of the Group Audit Committee and member of the Group Risk Committee on 18 February 2020. 12 Stepped down as Chair of the Financial System Vulnerabilities Committee on 17 January 2020 when the Committee was demised. 13 The Group Chairman donated 100% of his 2020 fee to charities in the UK and Hong Kong supporting vulnerable people and in the local response to Covid-19. 14 Appointed as a member of the Group Audit Committee on 19 February 2020. Total pension entitlements (Audited) No employees who served as executive Directors during the year have a right to amounts under any HSBC final salary pension scheme for their services as executive Directors or are entitled to additional benefits in the event of early retirement. There is no retirement age set for Directors, but the normal retirement age for employees is 65. Payments to past Directors (Audited) Details of the 2017 LTI outcome, in which Marc Moses (former Group Chief Risk Officer) and Iain Mackay (former Group Finance Director) participated, are outlined on page 285. No payments were made to, or in respect of, former Directors in the year in excess of the minimum threshold of £50,000 set for this purpose. Payments for loss of office (Audited) No payments for loss of office were made to, or in respect of, former or current Directors in the year. | Non-executive Directors’ interests in shares (Audited) The shareholdings of persons who were non-executive Directors in 2020, including the shareholdings of their connected persons, at shareholding guidelines within five years of the date of their appointment. All non-executive Directors who had been appointed for five years or more at 31 December 2020 met the guidelines except Irene Lee, who has committed to acquiring the remaining shares as soon as possible, and no later than the conclusion of the 2021 AGM. Shares Shareholding guidelines (number of shares) Share interests (number of shares) Kathleen Casey (retired on 24 April 2020) 15,000 15,125 Laura Cha 15,000 16,200 Henri de Castries 15,000 19,251 James Forese (appointed to the Board on 1 May 2020) 15,000 115,000 Steven Guggenheimer (appointed to the Board on 1 May 2020) 15,000 15,000 Irene Lee 15,000 11,904 José Antonio Meade Kuribreña 15,000 15,000 Heidi Miller 15,000 15,700 Eileen Murray (appointed to the Board on 1 July 2020) 15,000 75,000 David Nish 15,000 50,000 Sir Jonathan Symonds (retired on 18 February 2020) 15,000 43,821 Jackson Tai 15,000 66,515 Mark Tucker 15,000 307,352 Pauline van der Meer Mohr 15,000 15,000 |
Basis of preparation and sign_2
Basis of preparation and significant accounting policies (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Corporate Information And Statement Of IFRS Compliance [Abstract] | |
Compliance with International Financial Reporting Standards | Compliance with International Financial Reporting Standards The consolidated financial statements of HSBC and the separate financial statements of HSBC Holdings comply with international accounting standards in conformity with the requirements of the Companies Act 2006 and have also applied international financial reporting standards adopted pursuant to Regulation (EC) No 1606/2002 as it applies in the European Union. These financial statements are also prepared in accordance with International Financial Reporting Standards (‘IFRSs’) as issued by the International Accounting Standards Board (‘IASB’), including interpretations issued by the IFRS Interpretations Committee, as there are no applicable differences from IFRSs as issued by the IASB for the periods presented. ‘Interest Rate Benchmark Reform – Phase 2’, which amends IFRS 9, IAS 39 ‘Financial Instruments,’ IFRS 7 ‘Financial Instruments,’ IFRS 4 ‘Insurance Contracts’ and IFRS 16 ‘Leases’, was adopted for use in the UK and the EU in January 2021 and has been early adopted as set out below. Therefore, there were no unendorsed standards effective for the year ended 31 December 2020 affecting these consolidated and separate financial statements. Standards adopted during the year ended 31 December 2020 Interest Rate Benchmark Reform – Phase 2 Interest Rate Benchmark Reform Phase 2: Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 issued in August 2020 represents the second phase of the IASB’s project on the effects of interest rate benchmark reform, addressing issues affecting financial statements when changes are made to contractual cash flows and hedging relationships as a result of the reform. Under these amendments, changes made to a financial instrument measured at other than fair value through profit or loss that are economically equivalent and required by interest rate benchmark reform do not result in the derecognition or a change in the carrying amount of the financial instrument, but instead require the effective interest rate to be updated to reflect the change in the interest rate benchmark. In addition, hedge accounting will not be discontinued solely because of the replacement of the interest rate benchmark if the hedge meets other hedge accounting criteria. These amendments apply from 1 January 2021 with early adoption permitted. HSBC adopted the amendments from 1 January 2020 and made the additional disclosures as required by the amendments. Further information is included in Note 15 and in ‘Financial instruments impacted by Ibor reform’ on page 143. Other changes In addition, HSBC adopted a number of interpretations and amendments to standards, which had an insignificant effect on the consolidated financial statements of HSBC and the separate financial statements of HSBC Holdings. In 2018, HSBC adopted IFRS 9 and made voluntary presentation changes, including to certain financial liabilities, which contain both deposit and derivative components, and to cash collateral, margin and settlement accounts. The impact of this is included in the HSBC Holdings statement of changes in equity for that year end. Other than as noted above, accounting policies have been consistently applied. |
Differences between IFRSs and Hong Kong Financial Reporting Standards | Differences between IFRSs and Hong Kong Financial Reporting StandardsThere are no significant differences between IFRSs and Hong Kong Financial Reporting Standards in terms of their application to HSBC, and consequently there would be no significant differences had the financial statements been prepared in accordance with Hong Kong Financial Reporting Standards. The ‘Notes on the financial statements’, taken together with the ‘Report of the Directors’, include the aggregate of all disclosures necessary to satisfy IFRSs and Hong Kong reporting requirements. |
Future accounting developments | Future accounting developments Minor amendments to IFRSs The IASB has not published any minor amendments effective from 1 January 2021 that are applicable to HSBC. However, the IASB has published a number of minor amendments to IFRSs that are effective from 1 January 2022 and 1 January 2023. HSBC expects they will have an insignificant effect, when adopted, on the consolidated financial statements of HSBC and the separate financial statements of HSBC Holdings. New IFRSs IFRS 17 ‘Insurance Contracts’ IFRS 17 ‘Insurance Contracts’ was issued in May 2017, with amendments to the standard issued in June 2020. 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 numerical impact of its implementation remains uncertain. However, we have the following expectations as to the impact compared with the Group’s current accounting policy for insurance contracts, which is set out in policy 1.2(j) below: • Under IFRS 17, there will be no PVIF asset recognised; rather the estimated future profit will be included in the measurement of the insurance contract liability as the contractual service margin (‘CSM’) and gradually recognised in revenue as services are provided over the duration of the insurance contract. The PVIF asset will be eliminated to equity on transition, together with other adjustments to assets and liabilities to reflect IFRS 17 measurement requirements and any consequential amendments to financial assets in the scope of IFRS 9; • IFRS 17 requires increased use of current market values in the measurement of insurance liabilities. Depending on the measurement model, changes in market conditions for certain products (measured under the General Measurement Approach) are immediately recognised in profit or loss, while for other products (measured under the Variable Fee Approach) they will be included in the measurement of CSM. • In accordance with IFRS 17, directly attributable costs will be included in the results of insurance services as profit is recognised over the duration of insurance contracts. Costs that are not directly attributable will remain in operating expenses. This will result in a reduction in operating expenses compared with the current accounting policy. |
Foreign currencies | Foreign currencies HSBC’s consolidated financial statements are presented in US dollars because the US dollar and currencies linked to it form the major currency bloc in which HSBC transacts and funds its business. The US dollar is also HSBC Holdings’ functional currency because the US dollar and currencies linked to it are the most significant currencies relevant to the underlying transactions, events and conditions of its subsidiaries, as well as representing a significant proportion of its funds generated from financing activities. Transactions in foreign currencies are recorded at the rate of exchange on the date of the transaction. Assets and liabilities denominated in foreign currencies are translated at the rate of exchange at the balance sheet date, except non-monetary assets and liabilities measured at historical cost, which are translated using the rate of exchange at the initial transaction date. Exchange differences are included in other comprehensive income or in the income statement depending on where the gain or loss on the underlying item is recognised. In the consolidated financial statements, the assets and liabilities of branches, subsidiaries, joint ventures and associates whose functional currency is not US dollars are translated into the Group’s presentation currency at the rate of exchange at the balance sheet date, while their results are translated into US dollars at the average rates of exchange for the reporting period. Exchange differences arising are recognised in other comprehensive income. On disposal of a foreign operation, exchange differences previously recognised in other comprehensive income are reclassified to the income statement. |
Critical accounting estimates and judgements | Critical accounting estimates and judgementsThe preparation of financial information requires the use of estimates and judgements about future conditions. In view of the inherent uncertainties and the high level of subjectivity involved in the recognition or measurement of items, highlighted as the ‘critical accounting estimates and judgements’ in section 1.2 below (including impairment of non-financial assets for the first time), it is possible that the outcomes in the next financial year could differ from those on which management’s estimates are based. This could result in materially different estimates and judgements from those reached by management for the purposes of these financial statements. Management’s selection of HSBC’s accounting policies that contain critical estimates and judgements reflects the materiality of the items to which the policies are applied and the high degree of judgement and estimation uncertainty involved.(g) |
Segmental analysis | Segmental analysisHSBC’s Chief Operating Decision Maker is the Group Chief Executive, who is supported by the rest of the Group Executive Committee (‘GEC’), which operates as a general management committee under the direct authority of the Board. Operating segments are reported in a manner consistent with the internal reporting provided to the Group Chief Executive and the GEC.Measurement of segmental assets, liabilities, income and expenses is in accordance with the Group’s accounting policies. Segmental income and expenses include transfers between segments, and these transfers are conducted at arm’s length. Shared costs are included in segments on the basis of the actual recharges made. |
Going concern | Going concernThe 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 outbreak 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. |
Investments in subsidiaries | Investments in subsidiaries Where an entity is governed by voting rights, HSBC consolidates when it holds – directly or indirectly – the necessary voting rights to pass resolutions by the governing body. In all other cases, the assessment of control is more complex and requires judgement of other factors, including having exposure to variability of returns, power to direct relevant activities, and whether power is held as agent or principal. Business combinations are accounted for using the acquisition method. The amount of non-controlling interest is measured either at fair value or at the non-controlling interest’s proportionate share of the acquiree’s identifiable net assets. This election is made for each business combination. HSBC Holdings’ investments in subsidiaries are stated at cost less impairment losses. |
Goodwill | Goodwill Goodwill is allocated to cash-generating units (‘CGUs’) for the purpose of impairment testing, which is undertaken at the lowest level at which goodwill is monitored for internal management purposes. HSBC’s CGUs are based on geographical regions subdivided by global business, except for Global Banking and Markets, for which goodwill is monitored on a global basis. Impairment testing is performed at least once a year, or whenever there is an indication of impairment, by comparing the recoverable amount of a CGU with its carrying amount. Goodwill is included in a disposal group if the disposal group is a CGU to which goodwill has been allocated or it is an operation within such a CGU. The amount of goodwill included in a disposal group is measured on the basis of the relative values of the operation disposed of and the portion of the CGU retained. Critical accounting estimates and judgements The review of goodwill and non-financial assets (see Note 1.2(n)) for impairment reflects management’s best estimate of the future cash flows of the CGUs and the rates used to discount these cash flows, both of which are subject to uncertain factors as follows: Judgements Estimates • The accuracy of forecast cash flows is subject to a high degree of uncertainty in volatile market conditions. Where such circumstances are determined to exist, management re-tests goodwill for impairment more frequently than once a year when indicators of impairment exist. This ensures that the assumptions on which the cash flow forecasts are based continue to reflect current market conditions and management’s best estimate of future business prospects • The future cash flows of the CGUs are sensitive to the cash flows projected for the periods for which detailed forecasts are available and to assumptions regarding the long-term pattern of sustainable cash flows thereafter. Forecasts are compared with actual performance and verifiable economic data, but they reflect management’s view of future business prospects at the time of the assessment • The rates used to discount future expected cash flows can have a significant effect on their valuation, and are based on the costs of capital assigned to individual CGUs. The cost of capital percentage is generally derived from a capital asset pricing model, which incorporates inputs reflecting a number of financial and economic variables, including the risk-free interest rate in the country concerned and a premium for the risk of the business being evaluated. These variables are subject to fluctuations in external market rates and economic conditions beyond management’s control • Key assumptions used in estimating goodwill and non-financial asset impairment are described in Note 21 |
HSBC sponsored structured entities | HSBC sponsored structured entities HSBC is considered to sponsor another entity if, in addition to ongoing involvement with the entity, it had a key role in establishing that entity or in bringing together relevant counterparties so the transaction that is the purpose of the entity could occur. HSBC is generally not considered a sponsor if the only involvement with the entity is merely administrative. |
Interests in associates and joint arrangements | Interests in associates and joint arrangements Joint arrangements are investments in which HSBC, together with one or more parties, has joint control. Depending on HSBC’s rights and obligations, the joint arrangement is classified as either a joint operation or a joint venture. HSBC classifies investments in entities over which it has significant influence, and that are neither subsidiaries nor joint arrangements, as associates. HSBC recognises its share of the assets, liabilities and results in a joint operation. Investments in associates and interests in joint ventures are recognised using the equity method. The attributable share of the results and reserves of joint ventures and associates is included in the consolidated financial statements of HSBC based on either financial statements made up to 31 December or pro-rated amounts adjusted for any material transactions or events occurring between the date the financial statements are available and 31 December. Investments in associates and joint ventures are assessed at each reporting date and tested for impairment when there is an indication that the investment may be impaired. Goodwill on acquisitions of interests in joint ventures and associates is not tested separately for impairment, but is assessed as part of the carrying amount of the investment. Critical accounting estimates and judgements The most significant critical accounting estimates relate to the assessment of impairment of our investment in Bank of Communications Co. Limited (‘BoCom’), which involves estimations of value in use: Judgements Estimates • Management’s best estimate of BoCom’s earnings are based on management’s explicit forecasts over the short to medium term and the capital maintenance charge, which is management’s forecast of the earnings that need to be withheld in order for BoCom to meet regulatory requirements over the forecast period, both of which are subject to uncertain factors • Key assumptions used in estimating BoCom’s value in use, the sensitivity of the value in use calculations to different assumptions and a sensitivity analysis that shows the changes in key assumptions that would reduce the excess of value in use over the carrying amount (the ‘headroom’) to nil are described in Note 18 |
Interest income and expense | Interest income and expense Interest income and expense for all financial instruments, excluding those classified as held for trading or designated at fair value, are recognised in ‘Interest income’ and ‘Interest expense’ in the income statement using the effective interest method. However, as an exception to this, interest on debt instruments issued by HSBC for funding purposes that are designated under the fair value option to reduce an accounting mismatch and on derivatives managed in conjunction with those debt instruments is included in interest expense. Interest on credit-impaired financial assets is recognised using the rate of interest used to discount the future cash flows for the purpose of measuring the impairment loss. |
Non-interest income and expense | Non-interest income and expense HSBC generates fee income from services provided at a fixed price over time, such as account service and card fees, or when HSBC delivers a specific transaction at a point in time, such as broking services and import/export services. With the exception of certain fund management and performance fees, all other fees are generated at a fixed price. Fund management and performance fees can be variable depending on the size of the customer portfolio and HSBC’s performance as fund manager. Variable fees are recognised when all uncertainties are resolved. Fee income is generally earned from short-term contracts with payment terms that do not include a significant financing component. HSBC acts as principal in the majority of contracts with customers, with the exception of broking services. For most brokerage trades, HSBC acts as agent in the transaction and recognises broking income net of fees payable to other parties in the arrangement. HSBC recognises fees earned on transaction-based arrangements at a point in time when it has fully provided the service to the customer. Where the contract requires services to be provided over time, income is recognised on a systematic basis over the life of the agreement. Where HSBC offers a package of services that contains multiple non-distinct performance obligations, such as those included in account service packages, the promised services are treated as a single performance obligation. If a package of services contains distinct performance obligations, such as those including both account and insurance services, the corresponding transaction price is allocated to each performance obligation based on the estimated stand-alone selling prices. Dividend income is recognised when the right to receive payment is established. This is the ex-dividend date for listed equity securities, and usually the date when shareholders approve the dividend for unlisted equity securities. Net income/(expense) from financial instruments measured at fair value through profit or loss includes the following: • ‘Net income from financial instruments held for trading or managed on a fair value basis’: This comprises net trading income, which includes all gains and losses from changes in the fair value of financial assets and financial liabilities held for trading and other financial instruments managed on a fair value basis, together with the related interest income, expense and dividends, excluding the effect of changes in the credit risk of liabilities managed on a fair value basis. It also includes all gains and losses from changes in the fair value of derivatives that are managed in conjunction with financial assets and liabilities measured at fair value through profit or loss. • ‘Net income/(expense) from assets and liabilities of insurance businesses, including related derivatives, measured at fair value through profit or loss’: This includes interest income, interest expense and dividend income in respect of financial assets and liabilities measured at fair value through profit or loss; and those derivatives managed in conjunction with the above that can be separately identifiable from other trading derivatives. • ‘Changes in fair value of designated debt instruments and related derivatives’: Interest paid on debt instruments and interest cash flows on related derivatives is presented in interest expense where doing so reduces an accounting mismatch. • ‘Changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss’: This includes interest on instruments that fail the solely payments of principal and interest test, see (d) below. The accounting policies for insurance premium income are disclosed in Note 1.2(j). |
Valuation of financial instruments | Valuation of financial instruments All financial instruments are initially recognised at fair value. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value of a financial instrument on initial recognition is generally its transaction price (that is, the fair value of the consideration given or received). However, if there is a difference between the transaction price and the fair value of financial instruments whose fair value is based on a quoted price in an active market or a valuation technique that uses only data from observable markets, HSBC recognises the difference as a trading gain or loss at inception (a ‘day 1 gain or loss’). In all other cases, the entire day 1 gain or loss is deferred and recognised in the income statement over the life of the transaction until the transaction matures, is closed out, the valuation inputs become observable or HSBC enters into an offsetting transaction. The fair value of financial instruments is generally measured on an individual basis. However, in cases where HSBC manages a group of financial assets and liabilities according to its net market or credit risk exposure, the fair value of the group of financial instruments is measured on a net basis but the underlying financial assets and liabilities are presented separately in the financial statements, unless they satisfy the IFRS offsetting criteria. Critical accounting estimates and judgements The majority of valuation techniques employ only observable market data. However, certain financial instruments are classified on the basis of valuation techniques that feature one or more significant market inputs that are unobservable, and for them, the measurement of fair value is more judgemental: Judgements Estimates • An instrument in its entirety is classified as valued using significant unobservable inputs if, in the opinion of management, a significant proportion of the instrument’s inception profit or greater than 5% of the instrument’s valuation is driven by unobservable inputs • ‘Unobservable’ in this context means that there is little or no current market data available from which to determine the price at which an arm’s length transaction would be likely to occur. It generally does not mean that there is no data available at all upon which to base a determination of fair value (consensus pricing data may, for example, be used) • Details on the Group’s level 3 financial instruments and the sensitivity of their valuation to the effect of applying reasonable possible alternative assumptions in determining their fair value are set out in Note 12 Valuation Fair value is an estimate of the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. It does not reflect the economic benefits and costs that HSBC expects to flow from an instrument’s cash flow over its expected future life. Our valuation methodologies and assumptions in determining fair values for which no observable market prices are available may differ from those of other companies. Loans and advances to banks and customers To determine the fair value of loans and advances to banks and customers, loans are segregated, as far as possible, into portfolios of similar characteristics. Fair values are based on observable market transactions, when available. When they are unavailable, fair values are estimated using valuation models incorporating a range of input assumptions. These assumptions may include: value estimates from third-party brokers reflecting over-the-counter trading activity; forward-looking discounted cash flow models, taking account of expected customer prepayment rates, using assumptions that HSBC believes are consistent with those that would be used by market participants in valuing such loans; new business rates estimates for similar loans; and trading inputs from other market participants including observed primary and secondary trades. From time to time, we may engage a third-party valuation specialist to measure the fair value of a pool of loans. The fair value of loans reflects expected credit losses at the balance sheet date and estimates of market participants’ expectations of credit losses over the life of the loans, and the fair value effect of repricing between origination and the balance sheet date. For credit-impaired loans, fair value is estimated by discounting the future cash flows over the time period they are expected to be recovered. Financial investments The fair values of listed financial investments are determined using bid market prices. The fair values of unlisted financial investments are determined using valuation techniques that incorporate the prices and future earnings streams of equivalent quoted securities. Deposits by banks and customer accounts The fair values of on-demand deposits are approximated by their carrying value. For deposits with longer-term maturities, fair values are estimated using discounted cash flows, applying current rates offered for deposits of similar remaining maturities. Debt securities in issue and subordinated liabilities Fair values in debt securities in issue and subordinated liabilities are determined using quoted market prices at the balance sheet date where available, or by reference to quoted market prices for similar instruments. Repurchase and reverse repurchase agreements – non-trading Fair values of repurchase and reverse repurchase agreements that are held on a non-trading basis provide approximate carrying amounts. This is due to the fact that balances are generally short dated. |
Financial instruments measured at amortised cost | Financial instruments measured at amortised cost Financial assets that are held to collect the contractual cash flows and which contain contractual terms that give rise on specified dates to cash flows that are solely payments of principal and interest are measured at amortised cost. Such financial assets include most loans and advances to banks and customers and some debt securities. In addition, most financial liabilities are measured at amortised cost. HSBC accounts for regular way amortised cost financial instruments using trade date accounting. The carrying value of these financial assets at initial recognition includes any directly attributable transactions costs. If the initial fair value is lower than the cash amount advanced, such as in the case of some leveraged finance and syndicated lending activities, the difference is deferred and recognised over the life of the loan through the recognition of interest income. HSBC may commit to underwriting loans on fixed contractual terms for specified periods of time. When the loan arising from the lending commitment is expected to be held for trading, the commitment to lend is recorded as a derivative. When HSBC intends to hold the loan, the loan commitment is included in the impairment calculations set out below. Non-trading reverse repurchase, repurchase and similar agreements When debt securities are sold subject to a commitment to repurchase them at a predetermined price (‘repos’), they remain on the balance sheet and a liability is recorded in respect of the consideration received. Securities purchased under commitments to resell (‘reverse repos’) are not recognised on the balance sheet and an asset is recorded in respect of the initial consideration paid. Non-trading repos and reverse repos are measured at amortised cost. The difference between the sale and repurchase price or between the purchase and resale price is treated as interest and recognised in net interest income over the life of the agreement. Contracts that are economically equivalent to reverse repo or repo agreements (such as sales or purchases of debt securities entered into together with total return swaps with the same counterparty) are accounted for similarly to, and presented together with, reverse repo or repo agreements. |
Financial assets measured at fair value through other comprehensive income | Financial assets measured at fair value through other comprehensive income Financial assets held for a business model that is achieved by both collecting contractual cash flows and selling and which contain contractual terms that give rise on specified dates to cash flows that are solely payments of principal and interest are measured at fair value through other comprehensive income (‘FVOCI’). These comprise primarily debt securities. They are recognised on the trade date when HSBC enters into contractual arrangements to purchase and are normally derecognised when they are either sold or redeemed. They are subsequently remeasured at fair value and changes therein (except for those relating to impairment, interest income and foreign currency exchange gains and losses) are recognised in other comprehensive income until the assets are sold. Upon disposal, the cumulative gains or losses in other comprehensive income are recognised in the income statement as ‘Gains less losses from financial instruments’. Financial assets measured at FVOCI are included in the impairment calculations set out below and impairment is recognised in profit or loss.Equity securities measured at fair value with fair value movements presented in other comprehensive incomeThe equity securities for which fair value movements are shown in other comprehensive income are business facilitation and other similar investments where HSBC holds the investments other than to generate a capital return. Gains or losses on the derecognition of these equity securities are not transferred to profit or loss. Otherwise, equity securities are measured at fair value through profit or loss (except for dividend income, which is recognised in profit or loss). |
Financial instruments designated at fair value through profit or loss | Financial instruments designated at fair value through profit or loss Financial instruments, other than those held for trading, are classified in this category if they meet one or more of the criteria set out below and are so designated irrevocably at inception: • the use of the designation removes or significantly reduces an accounting mismatch; • a group of financial assets and liabilities or a group of financial liabilities is managed and its performance is evaluated on a fair value basis, in accordance with a documented risk management or investment strategy; and • the financial liability contains one or more non-closely related embedded derivatives. Designated financial assets are recognised when HSBC enters into contracts with counterparties, which is generally on trade date, and are normally derecognised when the rights to the cash flows expire or are transferred. Designated financial liabilities are recognised when HSBC enters into contracts with counterparties, which is generally on settlement date, and are normally derecognised when extinguished. Subsequent changes in fair values are recognised in the income statement in ‘Net income from financial instruments held for trading or managed on a fair value basis’ or ‘Net income/(expense) from assets and liabilities of insurance businesses, including related derivatives, measured at fair value through profit or loss’ except for the effect of changes in the liabilities’ credit risk, which is presented in ‘Other comprehensive income’, unless that treatment would create or enlarge an accounting mismatch in profit or loss. Under the above criterion, the main classes of financial instruments designated by HSBC are: • Debt instruments for funding purposes that are designated to reduce an accounting mismatch: The interest and/or foreign exchange exposure on certain fixed-rate debt securities issued has been matched with the interest and/or foreign exchange exposure on certain swaps as part of a documented risk management strategy. • Financial assets and financial liabilities under unit-linked and non-linked investment contracts: A contract under which HSBC does not accept significant insurance risk from another party is not classified as an insurance contract, other than investment contracts with discretionary participation features (‘DPF’), but is accounted for as a financial liability. Customer liabilities under linked and certain non-linked investment contracts issued by insurance subsidiaries are determined based on the fair value of the assets held in the linked funds. If no fair value designation was made for the related assets, at least some of the assets would otherwise be measured at either fair value through other comprehensive income or amortised cost. The related financial assets and liabilities are managed and reported to management on a fair value basis. Designation at fair value of the financial assets and related liabilities allows changes in fair values to be recorded in the income statement and presented in the same line. • Financial liabilities that contain both deposit and derivative components: These financial liabilities are managed and their performance evaluated on a fair value basis. |
Derivatives | Derivatives Derivatives are financial instruments that derive their value from the price of underlying items such as equities, interest rates or other indices. Derivatives are recognised initially and are subsequently measured at fair value through profit or loss. Derivatives are classified as assets when their fair value is positive or as liabilities when their fair value is negative. This includes embedded derivatives in financial liabilities, which are bifurcated from the host contract when they meet the definition of a derivative on a stand-alone basis. Where the derivatives are managed with debt securities issued by HSBC that are designated at fair value, the contractual interest is shown in ‘Interest expense’ together with the interest payable on the issued debt. Hedge accounting When derivatives are not part of fair value designated relationships, if held for risk management purposes they are designated in hedge accounting relationships where the required criteria for documentation and hedge effectiveness are met. HSBC uses these derivatives or, where allowed, other non-derivative hedging instruments in fair value hedges, cash flow hedges or hedges of net investments in foreign operations as appropriate to the risk being hedged. Fair value hedge Fair value hedge accounting does not change the recording of gains and losses on derivatives and other hedging instruments, but results in recognising changes in the fair value of the hedged assets or liabilities attributable to the hedged risk that would not otherwise be recognised in the income statement. If a hedge relationship no longer meets the criteria for hedge accounting, hedge accounting is discontinued and the cumulative adjustment to the carrying amount of the hedged item is amortised to the income statement on a recalculated effective interest rate, unless the hedged item has been derecognised, in which case it is recognised in the income statement immediately. Cash flow hedge The effective portion of gains and losses on hedging instruments is recognised in other comprehensive income and the ineffective portion of the change in fair value of derivative hedging instruments that are part of a cash flow hedge relationship is recognised immediately in the income statement within ‘Net income from financial instruments held for trading or managed on a fair value basis’. The accumulated gains and losses recognised in other comprehensive income are reclassified to the income statement in the same periods in which the hedged item affects profit or loss. When a hedge relationship is discontinued, or partially discontinued, any cumulative gain or loss recognised in other comprehensive income remains in equity until the forecast transaction is recognised in the income statement. When a forecast transaction is no longer expected to occur, the cumulative gain or loss previously recognised in other comprehensive income is immediately reclassified to the income statement. Net investment hedge Hedges of net investments in foreign operations are accounted for in a similar way to cash flow hedges. The effective portion of gains and losses on the hedging instrument is recognised in other comprehensive income and other gains and losses are recognised immediately in the income statement. Gains and losses previously recognised in other comprehensive income are reclassified to the income statement on the disposal, or part disposal, of the foreign operation. Derivatives that do not qualify for hedge accounting Non-qualifying hedges are derivatives entered into as economic hedges of assets and liabilities for which hedge accounting was not applied. |
Impairment of amortised cost and FVOCI financial assets | Impairment of amortised cost and FVOCI financial assets Expected credit losses (‘ECL’) are recognised for loans and advances to banks and customers, non-trading reverse repurchase agreements, other financial assets held at amortised cost, debt instruments measured at FVOCI, and certain loan commitments and financial guarantee contracts. At initial recognition, allowance (or provision in the case of some loan commitments and financial guarantees) is required for ECL resulting from default events that are possible within the next 12 months, or less, where the remaining life is less than 12 months (’12-month ECL’). In the event of a significant increase in credit risk, allowance (or provision) is required for ECL resulting from all possible default events over the expected life of the financial instrument (‘lifetime ECL’). Financial assets where Credit impaired (stage 3) HSBC determines that a financial instrument is credit impaired and in stage 3 by considering relevant objective evidence, primarily whether: • contractual payments of either principal or interest are past due for more than 90 days; • there are other indications that the borrower is unlikely to pay, such as when a concession has been granted to the borrower for economic or legal reasons relating to the borrower’s financial condition; and • the loan is otherwise considered to be in default. If such unlikeliness to pay is not identified at an earlier stage, it is deemed to occur when an exposure is 90 days past due, even where regulatory rules permit default to be defined based on 180 days past due. Therefore, the definitions of credit impaired and default are aligned as far as possible so that stage 3 represents all loans that are considered defaulted or otherwise credit impaired. Interest income is recognised by applying the effective interest rate to the amortised cost amount, i.e. gross carrying amount less ECL allowance. Write-off Financial assets (and the related impairment allowances) are normally written off, either partially or in full, when there is no realistic prospect of recovery. Where loans are secured, this is generally after receipt of any proceeds from the realisation of security. In circumstances where the net realisable value of any collateral has been determined and there is no reasonable expectation of further recovery, write-off may be earlier. Renegotiation Loans are identified as renegotiated and classified as credit impaired when we modify the contractual payment terms due to significant credit distress of the borrower. Renegotiated loans remain classified as credit impaired until there is sufficient evidence to demonstrate a significant reduction in the risk of non-payment of future cash flows and retain the designation of renegotiated until maturity or derecognition. A loan that is renegotiated is derecognised if the existing agreement is cancelled and a new agreement is made on substantially different terms, or if the terms of an existing agreement are modified such that the renegotiated loan is a substantially different financial instrument. Any new loans that arise following derecognition events in these circumstances are considered to be POCI and will continue to be disclosed as renegotiated loans. Other than originated credit-impaired loans, all other modified loans could be transferred out of stage 3 if they no longer exhibit any evidence of being credit impaired and, in the case of renegotiated loans, there is sufficient evidence to demonstrate a significant reduction in the risk of non-payment of future cash flows over the minimum observation period, and there are no other indicators of impairment. These loans could be transferred to stage 1 or 2 based on the mechanism as described below by comparing the risk of a default occurring at the reporting date (based on the modified contractual terms) and the risk of a default occurring at initial recognition (based on the original, unmodified contractual terms). Any amount written off as a result of the modification of contractual terms would not be reversed. Loan modifications other than renegotiated loans Loan modifications that are not identified as renegotiated are considered to be commercial restructuring. Where a commercial restructuring results in a modification (whether legalised through an amendment to the existing terms or the issuance of a new loan contract) such that HSBC’s rights to the cash flows under the original contract have expired, the old loan is derecognised and the new loan is recognised at fair value. The rights to cash flows are generally considered to have expired if the commercial restructure is at market rates and no payment-related concession has been provided. Mandatory and general offer loan modifications that are not borrower-specific, for example market-wide customer relief programmes, have not been classified as renegotiated loans and generally have not resulted in derecognition, but their stage allocation is determined considering all available and supportable information under our ECL impairment policy. Significant increase in credit risk (stage 2) An assessment of whether credit risk has increased significantly since initial recognition is performed at each reporting period by considering the change in the risk of default occurring over the remaining life of the financial instrument. The assessment explicitly or implicitly compares the risk of default occurring at the reporting date compared with that at initial recognition, taking into account reasonable and supportable information, including information about past events, current conditions and future economic conditions. The assessment is unbiased, probability-weighted, and to the extent relevant, uses forward-looking information consistent with that used in the measurement of ECL. The analysis of credit risk is multifactor. The determination of whether a specific factor is relevant and its weight compared with other factors depends on the type of product, the characteristics of the financial instrument and the borrower, and the geographical region. Therefore, it is not possible to provide a single set of criteria that will determine what is considered to be a significant increase in credit risk, and these criteria will differ for different types of lending, particularly between retail and wholesale. However, unless identified at an earlier stage, all financial assets are deemed to have suffered a significant increase in credit risk when 30 days past due. In addition, wholesale loans that are individually assessed, which are typically corporate and commercial customers, and included on a watch or worry list, are included in stage 2. For wholesale portfolios, the quantitative comparison assesses default risk using a lifetime probability of default (‘PD’), which encompasses a wide range of information including the obligor’s customer risk rating (‘CRR’), macroeconomic condition forecasts and credit transition probabilities. For origination CRRs up to 3.3, significant increase in credit risk is measured by comparing the average PD for the remaining term estimated at origination with the equivalent estimation at the reporting date. The quantitative measure of significance varies depending on the credit quality at origination as follows: Origination CRR Significance trigger – PD to increase by 0.1–1.2 15bps 2.1–3.3 30bps For CRRs greater than 3.3 that are not impaired, a significant increase in credit risk is considered to have occurred when the origination PD has doubled. The significance of changes in PD was informed by expert credit risk judgement, referenced to historical credit migrations and to relative changes in external market rates. For loans originated prior to the implementation of IFRS 9, the origination PD does not include adjustments to reflect expectations of future macroeconomic conditions since these are not available without the use of hindsight. In the absence of this data, origination PD must be approximated assuming through-the-cycle (‘TTC’) PDs and TTC migration probabilities, consistent with the instrument’s underlying modelling approach and the CRR at origination. For these loans, the quantitative comparison is supplemented with additional CRR deterioration-based thresholds, as set out in the table below: Origination CRR Additional significance criteria – number of CRR grade notches deterioration required to identify as significant credit deterioration (stage 2) (> or equal to) 0.1 5 notches 1.1–4.2 4 notches 4.3–5.1 3 notches 5.2–7.1 2 notches 7.2–8.2 1 notch 8.3 0 notch Further information about the 23-grade scale used for CRR can be found on page 163. For certain portfolios of debt securities where external market ratings are available and credit ratings are not used in credit risk management, the debt securities will be in stage 2 if their credit risk increases to the extent they are no longer considered investment grade. Investment grade is where the financial instrument has a low risk of incurring losses, the structure has a strong capacity to meet its contractual cash flow obligations in the near term, and adverse changes in economic and business conditions in the longer term may, but will not necessarily, reduce the ability of the borrower to fulfil their contractual cash flow obligations. For retail portfolios, default risk is assessed using a reporting date 12-month PD derived from credit scores, which incorporates all available information about the customer. This PD is adjusted for the effect of macroeconomic forecasts for periods longer than Unimpaired and without significant increase in credit risk (stage 1) ECL resulting from default events that are possible within the next 12 months (‘12-month ECL’) are recognised for financial instruments that remain in stage 1. Purchased or originated credit impaired Financial assets that are purchased or originated at a deep discount that reflects the incurred credit losses are considered to be POCI. This population includes the recognition of a new financial instrument following a renegotiation where concessions have been granted for economic or contractual reasons relating to the borrower’s financial difficulty that otherwise would not have been considered. The amount of change-in-lifetime ECL is recognised in profit or loss until the POCI is derecognised, even if the lifetime ECL are less than the amount of ECL included in the estimated cash flows on initial recognition. Movement between stages Financial assets can be transferred between the different categories (other than POCI) depending on their relative increase in credit risk since initial recognition. Financial instruments are transferred out of stage 2 if their credit risk is no longer considered to be significantly increased since initial recognition based on the assessments described above. Except for renegotiated loans, financial instruments are transferred out of stage 3 when they no longer exhibit any evidence of credit impairment as described above. Renegotiated loans that are not POCI will continue to be in stage 3 until there is sufficient evidence to demonstrate a significant reduction in the risk of non-payment of future cash flows, observed over a minimum one-year period and there are no other indicators of impairment. For loans that are assessed for impairment on a portfolio basis, the evidence typically comprises a history of payment performance against the original or revised terms, as appropriate to the circumstances. For loans that are assessed for impairment on an individual basis, all available evidence is assessed on a case-by-case basis. Measurement of ECL The assessment of credit risk and the estimation of ECL are unbiased and probability-weighted, and incorporate all available information that is relevant to the assessment including information about past events, current conditions and reasonable and supportable forecasts of future events and economic conditions at the reporting date. In addition, the estimation of ECL should take into account the time value of money. In general, HSBC calculates ECL using three main components: a probability of default, a loss given default (’LGD’) and the exposure at default (‘EAD’). The 12-month ECL is calculated by multiplying the 12-month PD, LGD and EAD. Lifetime ECL is calculated using the lifetime PD instead. The 12-month and lifetime PDs represent the probability of default occurring over the next 12 months and the remaining maturity of the instrument respectively. The EAD represents the expected balance at default, taking into account the repayment of principal and interest from the balance sheet date to the default event together with any expected drawdowns of committed facilities. The LGD represents expected losses on the EAD given the event of default, taking into account, among other attributes, the mitigating effect of collateral value at the time it is expected to be realised and the time value of money. HSBC leverages the Basel II IRB framework where possible, with recalibration to meet the differing IFRS 9 requirements as set out in the following table: Model Regulatory capital IFRS 9 PD • Through the cycle (represents long-run average PD throughout a full economic cycle) • The definition of default includes a backstop of 90+ days past due, although this has been modified to 180+ days past due for some portfolios, particularly UK and US mortgages • Point in time (based on current conditions, adjusted to take into account estimates of future conditions that will impact PD) • Default backstop of 90+ days past due for all portfolios EAD • Cannot be lower than current balance • Amortisation captured for term products LGD • Downturn LGD (consistent losses expected to be suffered during a severe but plausible economic downturn) • Regulatory floors may apply to mitigate risk of underestimating downturn LGD due to lack of historical data • Discounted using cost of capital • All collection costs included • Expected LGD (based on estimate of loss given default including the expected impact of future economic conditions such as changes in value of collateral) • No floors • Discounted using the original effective interest rate of the loan • Only costs associated with obtaining/selling collateral included Other • Discounted back from point of default to balance sheet date While 12-month PDs are recalibrated from Basel II models where possible, the lifetime PDs are determined by projecting the 12-month PD using a term structure. For the wholesale methodology, the lifetime PD also takes into account credit migration, i.e. a customer migrating through the CRR bands over its life. The ECL for wholesale stage 3 is determined on an individual basis using a discounted cash flow (‘DCF’) methodology. The expected future cash flows are based on the credit risk officer’s estimates as at the reporting date, reflecting reasonable and supportable assumptions and projections of future recoveries and expected future receipts of interest. Collateral is taken into account if it is likely that the recovery of the outstanding amount will include realisation of collateral based on the estimated fair value of collateral at the time of expected realisation, less costs for obtaining and selling the collateral. The cash flows are discounted at a reasonable approximation of the original effective interest rate. For significant cases, cash flows under four different scenarios are probability-weighted by reference to the economic scenarios applied more generally by the Group and the judgement of the credit risk officer in relation to the likelihood of the workout strategy succeeding or receivership being required. For less significant cases, the effect of different economic scenarios and work-out strategies is approximated and applied as an adjustment to the most likely outcome. Period over which ECL is measured Expected credit loss is measured from the initial recognition of the financial asset. The maximum period considered when measuring ECL (be it 12-month or lifetime ECL) is the maximum contractual period over which HSBC is exposed to credit risk. For wholesale overdrafts, credit risk management actions are taken no less frequently than on an annual basis and therefore this period is to the expected date of the next substantive credit review. The date of the substantive credit review also represents the initial recognition of the new facility. However, where the financial instrument includes both a drawn and undrawn commitment and the contractual ability to demand repayment and cancel the undrawn commitment does not serve to limit HSBC’s exposure to credit risk to the contractual notice period, the contractual period does not determine the maximum period considered. Instead, ECL is measured over the period HSBC remains exposed to credit risk that is not mitigated by credit risk management actions. This applies to retail overdrafts and credit cards, where the period is the average time taken for stage 2 exposures to default or close as performing accounts, determined on a portfolio basis and ranging from between two Forward-looking economic inputs HSBC applies multiple forward-looking global economic scenarios determined with reference to external forecast distributions representative of our view of forecast economic conditions. This approach is considered sufficient to calculate unbiased expected loss in most economic environments. In certain economic environments, additional analysis may be necessary and may result in additional scenarios or adjustments, to reflect a range of possible economic outcomes sufficient for an unbiased estimate. The detailed methodology is disclosed in ‘Measurement uncertainty and sensitivity analysis of ECL estimates’ on page 169. Critical accounting estimates and judgements The calculation of the Group’s ECL under IFRS 9 requires the Group to make a number of judgements, assumptions and estimates. The most significant are set out below: Judgements Estimates • Defining what is considered to be a significant increase in credit risk • Determining the lifetime and point of initial recognition of overdrafts and credit cards • Selecting and calibrating the PD, LGD and EAD models, which support the calculations, including making reasonable and supportable judgements about how models react to current and future economic conditions • Selecting model inputs and economic forecasts, including determining whether sufficient and appropriately weighted economic forecasts are incorporated to calculate unbiased expected loss • Making management adjustments to account for late breaking events, model and data limitations and deficiencies, and expert credit judgements • The sections marked as audited on pages 169 to 183, ‘Measurement uncertainty and sensitivity analysis of ECL estimates’ set out the assumptions used in determining ECL and provide an indication of the sensitivity of the result to the application of different weightings being applied to different economic assumptions |
Insurance contracts | Insurance contractsA contract is classified as an insurance contract where HSBC accepts significant insurance risk from another party by agreeing to compensate that party on the occurrence of a specified uncertain future event. An insurance contract may also transfer financial risk, but is accounted for as an insurance contract if the insurance risk is significant. In addition, HSBC issues investment contracts with discretionary participation features (‘DPF‘), which are also accounted for as insurance contracts as required by IFRS 4 ‘Insurance Contracts’. Net insurance premium income Premiums for life insurance contracts are accounted for when receivable, except in unit-linked insurance contracts where premiums are accounted for when liabilities are established. Reinsurance premiums are accounted for in the same accounting period as the premiums for the direct insurance contracts to which they relate. Net insurance claims and benefits paid and movements in liabilities to policyholders Gross insurance claims for life insurance contracts reflect the total cost of claims arising during the year, including claim handling costs and any policyholder bonuses allocated in anticipation of a bonus declaration. Maturity claims are recognised when due for payment. Surrenders are recognised when paid or at an earlier date on which, following notification, the policy ceases to be included within the calculation of the related insurance liabilities. Death claims are recognised when notified. Reinsurance recoveries are accounted for in the same period as the related claim. Liabilities under insurance contracts Liabilities under non-linked life insurance contracts are calculated by each life insurance operation based on local actuarial principles. Liabilities under unit-linked life insurance contracts are at least equivalent to the surrender or transfer value, which is calculated by reference to the value of the relevant underlying funds or indices. Future profit participation on insurance contracts with DPF Where contracts provide discretionary profit participation benefits to policyholders, liabilities for these contracts include provisions for the future discretionary benefits to policyholders. These provisions reflect the actual performance of the investment portfolio to date and management’s expectation of the future performance of the assets backing the contracts, as well as other experience factors such as mortality, lapses and operational efficiency, where appropriate. The benefits to policyholders may be determined by the contractual terms, regulation, or past distribution policy. Investment contracts with DPF While investment contracts with DPF are financial instruments, they continue to be treated as insurance contracts as required by IFRS 4. The Group therefore recognises the premiums for these contracts as revenue and recognises as an expense the resulting increase in the carrying amount of the liability. In the case of net unrealised investment gains on these contracts, whose discretionary benefits principally reflect the actual performance of the investment portfolio, the corresponding increase in the liabilities is recognised in either the income statement or other comprehensive income, following the treatment of the unrealised gains on the relevant assets. In the case of net unrealised losses, a deferred participating asset is recognised only to the extent that its recoverability is highly probable. Movements in the liabilities arising from realised gains and losses on relevant assets are recognised in the income statement. Present value of in-force long-term insurance business HSBC recognises the value placed on insurance contracts and investment contracts with DPF, which are classified as long-term and in-force at the balance sheet date, as an asset. The asset represents the present value of the equity holders’ interest in the issuing insurance companies’ profits expected to emerge from these contracts written at the balance sheet date. The present value of in-force business (‘PVIF’) is determined by discounting those expected future profits using appropriate assumptions in assessing factors such as future mortality, lapse rates and levels of expenses, and a risk discount rate that reflects the risk premium attributable to the respective contracts. The PVIF incorporates allowances for both non-market risk and the value of financial options and guarantees. The PVIF asset is presented gross of attributable tax in the balance sheet and movements in the PVIF asset are included in ‘Other operating income’ on a gross of tax basis. |
Employee compensation and benefits | Employee compensation and benefits Share-based payments HSBC enters into both equity-settled and cash-settled share-based payment arrangements with its employees as compensation for the provision of their services. The vesting period for these schemes may commence before the legal grant date if the employees have started to render services in respect of the award before the legal grant date, where there is a shared understanding of the terms and conditions of the arrangement. Expenses are recognised when the employee starts to render service to which the award relates. Cancellations result from the failure to meet a non-vesting condition during the vesting period, and are treated as an acceleration of vesting recognised immediately in the income statement. Failure to meet a vesting condition by the employee is not treated as a cancellation, and the amount of expense recognised for the award is adjusted to reflect the number of awards expected to vest. Post-employment benefit plans HSBC operates a number of pension schemes including defined benefit, defined contribution and post-employment benefit schemes. Payments to defined contribution schemes are charged as an expense as the employees render service. Defined benefit pension obligations are calculated using the projected unit credit method. The net charge to the income statement mainly comprises the service cost and the net interest on the net defined benefit asset or liability, and is presented in operating expenses. Remeasurements of the net defined benefit asset or liability, which comprise actuarial gains and losses, return on plan assets excluding interest and the effect of the asset ceiling (if any, excluding interest), are recognised immediately in other comprehensive income. The net defined benefit asset or liability represents the present value of defined benefit obligations reduced by the fair value of plan assets (see policy (c)), after applying the asset ceiling test, where the net defined benefit surplus is limited to the present value of available refunds and reductions in future contributions to the plan. The cost of obligations arising from other post-employment plans are accounted for on the same basis as defined benefit pension plans. Critical accounting estimates and judgements The most significant critical accounting estimates relate to the determination of key assumptions applied in calculating the defined benefit pension obligation for the principal plan. Judgements Estimates • A range of assumptions could be applied, and different assumptions could significantly alter the defined benefit obligation and the amounts recognised in profit or loss or OCI. • The calculation of the defined benefit pension obligation includes assumptions with regard to the discount rate, inflation rate, pension payments and deferred pensions, pay and mortality. Management determines these assumptions in consultation with the plan’s actuaries. • Key assumptions used in calculating the defined benefit pension obligation for the principal plan and the sensitivity of the calculation to different assumptions are described in Note 5 |
Tax | Tax Income tax comprises current tax and deferred tax. Income tax is recognised in the income statement except to the extent that it relates to items recognised in other comprehensive income or directly in equity, in which case the tax is recognised in the same statement as the related item appears. Current tax is the tax expected to be payable on the taxable profit for the year and on any adjustment to tax payable in respect of previous years. HSBC provides for potential current tax liabilities that may arise on the basis of the amounts expected to be paid to the tax authorities. Deferred tax is recognised on temporary differences between the carrying amounts of assets and liabilities in the balance sheet, and the amounts attributed to such assets and liabilities for tax purposes. Deferred tax is calculated using the tax rates expected to apply in the periods in which the assets will be realised or the liabilities settled. Current and deferred tax are calculated based on tax rates and laws enacted, or substantively enacted, by the balance sheet date. Critical accounting estimates and judgements The recognition of deferred tax assets depends on judgements Judgements Estimates • Assessing the probability and sufficiency of future taxable profits, taking into account the future reversal of existing taxable temporary differences and tax planning strategies including corporate reorganisations |
Provisions | Provisions Provisions are recognised when it is probable that an outflow of economic benefits will be required to settle a present legal or constructive obligation that has arisen as a result of past events and for which a reliable estimate can be made. Critical accounting estimates and judgements The recognition and measurement of provisions requires the Group to make a number of judgements, assumptions and estimates. The most significant are set out below: Judgements Estimates • Determining whether a present obligation exists. Professional advice is taken on the assessment of litigation and similar obligations • Provisions for legal proceedings and regulatory matters typically require a higher degree of judgement than other types of provisions. When matters are at an early stage, accounting judgements can be difficult because of the high degree of uncertainty associated with determining whether a present obligation exists, and estimating the probability and amount of any outflows that may arise. As matters progress, management and legal advisers evaluate on an ongoing basis whether provisions should be recognised, revising previous estimates as appropriate. At more advanced stages, it is typically easier to make estimates around a better defined set of possible outcomes • Provisions for legal proceedings and regulatory matters remain very sensitive to the assumptions used in the estimate. There could be a wider range of possible outcomes for any pending legal proceedings, investigations or inquiries. As a result it is often not practicable to quantify a range of possible outcomes for individual matters. It is also not practicable to meaningfully quantify ranges of potential outcomes in aggregate for these types of provisions because of the diverse nature and circumstances of such matters and the wide range of uncertainties involved • Provisions for customer remediation also require significant levels of estimation. The amounts of provisions recognised depend on a number of different assumptions, the most significant of which are the uphold rate and average redress for complaints yet to be worked. More information about these assumptions is included in Note 27 |
Contingent liabilities | Contingent liabilities Contingent liabilities, which include certain guarantees and letters of credit pledged as collateral security, and contingent liabilities related to legal proceedings or regulatory matters, are not recognised in the financial statements but are disclosed unless the probability of settlement is remote. |
Financial guarantee contracts | Financial guarantee contracts Liabilities under financial guarantee contracts that are not classified as insurance contracts are recorded initially at their fair value, which is generally the fee received or present value of the fee receivable. HSBC Holdings has issued financial guarantees and similar contracts to other Group entities. HSBC elects to account for certain guarantees as insurance contracts in HSBC Holdings’ financial statements, in which case they are measured and recognised as insurance liabilities. This election is made on a contract-by-contract basis, and is irrevocable. |
Impairment of non-financial assets | Impairment of non-financial assets Software under development is tested for impairment at least annually. Other non-financial assets are property, plant and equipment, intangible assets (excluding goodwill) and right-of-use assets. They are tested for impairment at the individual asset level when there is indication of impairment at that level, or at the CGU level for assets that do not have a recoverable amount at the individual asset level. In addition, impairment is also tested at the CGU level when there is indication of impairment at that level. For this purpose, CGUs are considered to be the principal operating legal entities divided by global business. Impairment testing compares the carrying amount of the non-financial asset or CGU with its recoverable amount, which is the higher of the fair value less costs of disposal or the value in use. The carrying amount of a CGU comprises the carrying value of its assets and liabilities, including non-financial assets that are directly attributable to it and non-financial assets that can be allocated to it on a reasonable and consistent basis. Non-financial assets that cannot be allocated to an individual CGU are tested for impairment at an appropriate grouping of CGUs. The recoverable amount of the CGU is the higher of the fair value less costs of disposal of the CGU, which is determined by independent and qualified valuers where relevant, and the value in use, which is calculated based on appropriate inputs (see Note 21). When the recoverable amount of a CGU is less than its carrying amount, an impairment loss is recognised in the income statement to the extent that the impairment can be allocated on a pro-rata basis to the non-financial assets by reducing their carrying amounts to the higher of their respective individual recoverable amount or nil. Impairment is not allocated to the financial assets in a CGU. Impairment loss recognised in prior periods for non-financial assets is reversed when there has been a change in the estimate used to determine the recoverable amount. The impairment loss is reversed to the extent that the carrying amount of the non-financial assets would not exceed the amount that would have been determined (net of amortisation or depreciation) had no impairment loss been recognised in prior periods. Critical accounting estimates and judgements The review of goodwill and other non-financial assets for impairment reflects management’s best estimate of the future cash flows of the CGUs and the rates used to discount these cash flows, both of which are subject to uncertain factors as described in the Critical accounting estimates and judgements in Note 1.2(a). |
Credit-impaired loans | Unsecured personal facilities, including credit cards, are generally written off at between 150 and 210 days past due. The standard period runs until the end of the month in which the account becomes 180 days contractually delinquent. However, in exceptional circumstances, they may be extended further. For secured facilities, write-off should occur upon repossession of collateral, receipt of proceeds via settlement, or determination that recovery of the collateral will not be pursued. Any secured assets maintained on the balance sheet beyond There are exceptions in a few countries and territories where local regulation or legislation constrains earlier write-off, or where the realisation of collateral for secured real estate lending takes more time. In the event of bankruptcy or analogous proceedings, write-off may occur earlier than the maximum periods stated above. Collection procedures may continue after write-off. Credit-impaired loans (Audited) We determine that a financial instrument is credit impaired and in stage 3 by considering relevant objective evidence, primarily whether: • contractual payments of either principal or interest are past due for more than 90 days; • there are other indications that the borrower is unlikely to pay, such as when a concession has been granted to the borrower for economic or legal reasons relating to the borrower’s financial condition; and • the loan is otherwise considered to be in default. If such unlikeliness to pay is not identified at an earlier stage, it is deemed to occur when an exposure is 90 days past due, even where regulatory rules permit default to be defined based on 180 days past due. Therefore, the definitions of credit impaired and default are aligned as far as possible so that stage 3 represents all loans that are considered defaulted or otherwise credit impaired. |
Impairment of financial assets | Impairment of amortised cost and FVOCI financial assets Expected credit losses (‘ECL’) are recognised for loans and advances to banks and customers, non-trading reverse repurchase agreements, other financial assets held at amortised cost, debt instruments measured at FVOCI, and certain loan commitments and financial guarantee contracts. At initial recognition, allowance (or provision in the case of some loan commitments and financial guarantees) is required for ECL resulting from default events that are possible within the next 12 months, or less, where the remaining life is less than 12 months (’12-month ECL’). In the event of a significant increase in credit risk, allowance (or provision) is required for ECL resulting from all possible default events over the expected life of the financial instrument (‘lifetime ECL’). Financial assets where Credit impaired (stage 3) HSBC determines that a financial instrument is credit impaired and in stage 3 by considering relevant objective evidence, primarily whether: • contractual payments of either principal or interest are past due for more than 90 days; • there are other indications that the borrower is unlikely to pay, such as when a concession has been granted to the borrower for economic or legal reasons relating to the borrower’s financial condition; and • the loan is otherwise considered to be in default. If such unlikeliness to pay is not identified at an earlier stage, it is deemed to occur when an exposure is 90 days past due, even where regulatory rules permit default to be defined based on 180 days past due. Therefore, the definitions of credit impaired and default are aligned as far as possible so that stage 3 represents all loans that are considered defaulted or otherwise credit impaired. Interest income is recognised by applying the effective interest rate to the amortised cost amount, i.e. gross carrying amount less ECL allowance. Write-off Financial assets (and the related impairment allowances) are normally written off, either partially or in full, when there is no realistic prospect of recovery. Where loans are secured, this is generally after receipt of any proceeds from the realisation of security. In circumstances where the net realisable value of any collateral has been determined and there is no reasonable expectation of further recovery, write-off may be earlier. Renegotiation Loans are identified as renegotiated and classified as credit impaired when we modify the contractual payment terms due to significant credit distress of the borrower. Renegotiated loans remain classified as credit impaired until there is sufficient evidence to demonstrate a significant reduction in the risk of non-payment of future cash flows and retain the designation of renegotiated until maturity or derecognition. A loan that is renegotiated is derecognised if the existing agreement is cancelled and a new agreement is made on substantially different terms, or if the terms of an existing agreement are modified such that the renegotiated loan is a substantially different financial instrument. Any new loans that arise following derecognition events in these circumstances are considered to be POCI and will continue to be disclosed as renegotiated loans. Other than originated credit-impaired loans, all other modified loans could be transferred out of stage 3 if they no longer exhibit any evidence of being credit impaired and, in the case of renegotiated loans, there is sufficient evidence to demonstrate a significant reduction in the risk of non-payment of future cash flows over the minimum observation period, and there are no other indicators of impairment. These loans could be transferred to stage 1 or 2 based on the mechanism as described below by comparing the risk of a default occurring at the reporting date (based on the modified contractual terms) and the risk of a default occurring at initial recognition (based on the original, unmodified contractual terms). Any amount written off as a result of the modification of contractual terms would not be reversed. Loan modifications other than renegotiated loans Loan modifications that are not identified as renegotiated are considered to be commercial restructuring. Where a commercial restructuring results in a modification (whether legalised through an amendment to the existing terms or the issuance of a new loan contract) such that HSBC’s rights to the cash flows under the original contract have expired, the old loan is derecognised and the new loan is recognised at fair value. The rights to cash flows are generally considered to have expired if the commercial restructure is at market rates and no payment-related concession has been provided. Mandatory and general offer loan modifications that are not borrower-specific, for example market-wide customer relief programmes, have not been classified as renegotiated loans and generally have not resulted in derecognition, but their stage allocation is determined considering all available and supportable information under our ECL impairment policy. Significant increase in credit risk (stage 2) An assessment of whether credit risk has increased significantly since initial recognition is performed at each reporting period by considering the change in the risk of default occurring over the remaining life of the financial instrument. The assessment explicitly or implicitly compares the risk of default occurring at the reporting date compared with that at initial recognition, taking into account reasonable and supportable information, including information about past events, current conditions and future economic conditions. The assessment is unbiased, probability-weighted, and to the extent relevant, uses forward-looking information consistent with that used in the measurement of ECL. The analysis of credit risk is multifactor. The determination of whether a specific factor is relevant and its weight compared with other factors depends on the type of product, the characteristics of the financial instrument and the borrower, and the geographical region. Therefore, it is not possible to provide a single set of criteria that will determine what is considered to be a significant increase in credit risk, and these criteria will differ for different types of lending, particularly between retail and wholesale. However, unless identified at an earlier stage, all financial assets are deemed to have suffered a significant increase in credit risk when 30 days past due. In addition, wholesale loans that are individually assessed, which are typically corporate and commercial customers, and included on a watch or worry list, are included in stage 2. For wholesale portfolios, the quantitative comparison assesses default risk using a lifetime probability of default (‘PD’), which encompasses a wide range of information including the obligor’s customer risk rating (‘CRR’), macroeconomic condition forecasts and credit transition probabilities. For origination CRRs up to 3.3, significant increase in credit risk is measured by comparing the average PD for the remaining term estimated at origination with the equivalent estimation at the reporting date. The quantitative measure of significance varies depending on the credit quality at origination as follows: Origination CRR Significance trigger – PD to increase by 0.1–1.2 15bps 2.1–3.3 30bps For CRRs greater than 3.3 that are not impaired, a significant increase in credit risk is considered to have occurred when the origination PD has doubled. The significance of changes in PD was informed by expert credit risk judgement, referenced to historical credit migrations and to relative changes in external market rates. For loans originated prior to the implementation of IFRS 9, the origination PD does not include adjustments to reflect expectations of future macroeconomic conditions since these are not available without the use of hindsight. In the absence of this data, origination PD must be approximated assuming through-the-cycle (‘TTC’) PDs and TTC migration probabilities, consistent with the instrument’s underlying modelling approach and the CRR at origination. For these loans, the quantitative comparison is supplemented with additional CRR deterioration-based thresholds, as set out in the table below: Origination CRR Additional significance criteria – number of CRR grade notches deterioration required to identify as significant credit deterioration (stage 2) (> or equal to) 0.1 5 notches 1.1–4.2 4 notches 4.3–5.1 3 notches 5.2–7.1 2 notches 7.2–8.2 1 notch 8.3 0 notch Further information about the 23-grade scale used for CRR can be found on page 163. For certain portfolios of debt securities where external market ratings are available and credit ratings are not used in credit risk management, the debt securities will be in stage 2 if their credit risk increases to the extent they are no longer considered investment grade. Investment grade is where the financial instrument has a low risk of incurring losses, the structure has a strong capacity to meet its contractual cash flow obligations in the near term, and adverse changes in economic and business conditions in the longer term may, but will not necessarily, reduce the ability of the borrower to fulfil their contractual cash flow obligations. For retail portfolios, default risk is assessed using a reporting date 12-month PD derived from credit scores, which incorporates all available information about the customer. This PD is adjusted for the effect of macroeconomic forecasts for periods longer than Unimpaired and without significant increase in credit risk (stage 1) ECL resulting from default events that are possible within the next 12 months (‘12-month ECL’) are recognised for financial instruments that remain in stage 1. Purchased or originated credit impaired Financial assets that are purchased or originated at a deep discount that reflects the incurred credit losses are considered to be POCI. This population includes the recognition of a new financial instrument following a renegotiation where concessions have been granted for economic or contractual reasons relating to the borrower’s financial difficulty that otherwise would not have been considered. The amount of change-in-lifetime ECL is recognised in profit or loss until the POCI is derecognised, even if the lifetime ECL are less than the amount of ECL included in the estimated cash flows on initial recognition. Movement between stages Financial assets can be transferred between the different categories (other than POCI) depending on their relative increase in credit risk since initial recognition. Financial instruments are transferred out of stage 2 if their credit risk is no longer considered to be significantly increased since initial recognition based on the assessments described above. Except for renegotiated loans, financial instruments are transferred out of stage 3 when they no longer exhibit any evidence of credit impairment as described above. Renegotiated loans that are not POCI will continue to be in stage 3 until there is sufficient evidence to demonstrate a significant reduction in the risk of non-payment of future cash flows, observed over a minimum one-year period and there are no other indicators of impairment. For loans that are assessed for impairment on a portfolio basis, the evidence typically comprises a history of payment performance against the original or revised terms, as appropriate to the circumstances. For loans that are assessed for impairment on an individual basis, all available evidence is assessed on a case-by-case basis. Measurement of ECL The assessment of credit risk and the estimation of ECL are unbiased and probability-weighted, and incorporate all available information that is relevant to the assessment including information about past events, current conditions and reasonable and supportable forecasts of future events and economic conditions at the reporting date. In addition, the estimation of ECL should take into account the time value of money. In general, HSBC calculates ECL using three main components: a probability of default, a loss given default (’LGD’) and the exposure at default (‘EAD’). The 12-month ECL is calculated by multiplying the 12-month PD, LGD and EAD. Lifetime ECL is calculated using the lifetime PD instead. The 12-month and lifetime PDs represent the probability of default occurring over the next 12 months and the remaining maturity of the instrument respectively. The EAD represents the expected balance at default, taking into account the repayment of principal and interest from the balance sheet date to the default event together with any expected drawdowns of committed facilities. The LGD represents expected losses on the EAD given the event of default, taking into account, among other attributes, the mitigating effect of collateral value at the time it is expected to be realised and the time value of money. HSBC leverages the Basel II IRB framework where possible, with recalibration to meet the differing IFRS 9 requirements as set out in the following table: Model Regulatory capital IFRS 9 PD • Through the cycle (represents long-run average PD throughout a full economic cycle) • The definition of default includes a backstop of 90+ days past due, although this has been modified to 180+ days past due for some portfolios, particularly UK and US mortgages • Point in time (based on current conditions, adjusted to take into account estimates of future conditions that will impact PD) • Default backstop of 90+ days past due for all portfolios EAD • Cannot be lower than current balance • Amortisation captured for term products LGD • Downturn LGD (consistent losses expected to be suffered during a severe but plausible economic downturn) • Regulatory floors may apply to mitigate risk of underestimating downturn LGD due to lack of historical data • Discounted using cost of capital • All collection costs included • Expected LGD (based on estimate of loss given default including the expected impact of future economic conditions such as changes in value of collateral) • No floors • Discounted using the original effective interest rate of the loan • Only costs associated with obtaining/selling collateral included Other • Discounted back from point of default to balance sheet date While 12-month PDs are recalibrated from Basel II models where possible, the lifetime PDs are determined by projecting the 12-month PD using a term structure. For the wholesale methodology, the lifetime PD also takes into account credit migration, i.e. a customer migrating through the CRR bands over its life. The ECL for wholesale stage 3 is determined on an individual basis using a discounted cash flow (‘DCF’) methodology. The expected future cash flows are based on the credit risk officer’s estimates as at the reporting date, reflecting reasonable and supportable assumptions and projections of future recoveries and expected future receipts of interest. Collateral is taken into account if it is likely that the recovery of the outstanding amount will include realisation of collateral based on the estimated fair value of collateral at the time of expected realisation, less costs for obtaining and selling the collateral. The cash flows are discounted at a reasonable approximation of the original effective interest rate. For significant cases, cash flows under four different scenarios are probability-weighted by reference to the economic scenarios applied more generally by the Group and the judgement of the credit risk officer in relation to the likelihood of the workout strategy succeeding or receivership being required. For less significant cases, the effect of different economic scenarios and work-out strategies is approximated and applied as an adjustment to the most likely outcome. Period over which ECL is measured Expected credit loss is measured from the initial recognition of the financial asset. The maximum period considered when measuring ECL (be it 12-month or lifetime ECL) is the maximum contractual period over which HSBC is exposed to credit risk. For wholesale overdrafts, credit risk management actions are taken no less frequently than on an annual basis and therefore this period is to the expected date of the next substantive credit review. The date of the substantive credit review also represents the initial recognition of the new facility. However, where the financial instrument includes both a drawn and undrawn commitment and the contractual ability to demand repayment and cancel the undrawn commitment does not serve to limit HSBC’s exposure to credit risk to the contractual notice period, the contractual period does not determine the maximum period considered. Instead, ECL is measured over the period HSBC remains exposed to credit risk that is not mitigated by credit risk management actions. This applies to retail overdrafts and credit cards, where the period is the average time taken for stage 2 exposures to default or close as performing accounts, determined on a portfolio basis and ranging from between two Forward-looking economic inputs HSBC applies multiple forward-looking global economic scenarios determined with reference to external forecast distributions representative of our view of forecast economic conditions. This approach is considered sufficient to calculate unbiased expected loss in most economic environments. In certain economic environments, additional analysis may be necessary and may result in additional scenarios or adjustments, to reflect a range of possible economic outcomes sufficient for an unbiased estimate. The detailed methodology is disclosed in ‘Measurement uncertainty and sensitivity analysis of ECL estimates’ on page 169. Critical accounting estimates and judgements The calculation of the Group’s ECL under IFRS 9 requires the Group to make a number of judgements, assumptions and estimates. The most significant are set out below: Judgements Estimates • Defining what is considered to be a significant increase in credit risk • Determining the lifetime and point of initial recognition of overdrafts and credit cards • Selecting and calibrating the PD, LGD and EAD models, which support the calculations, including making reasonable and supportable judgements about how models react to current and future economic conditions • Selecting model inputs and economic forecasts, including determining whether sufficient and appropriately weighted economic forecasts are incorporated to calculate unbiased expected loss • Making management adjustments to account for late breaking events, model and data limitations and deficiencies, and expert credit judgements • The sections marked as audited on pages 169 to 183, ‘Measurement uncertainty and sensitivity analysis of ECL estimates’ set out the assumptions used in determining ECL and provide an indication of the sensitivity of the result to the application of different weightings being applied to different economic assumptions |
Net fee income (Tables)
Net fee income (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Analysis of income and expense [abstract] | |
Summary of net fee income | Net fee income by global business 2020 Wealth and Commercial Global Corporate Total $m $m $m $m $m Funds under management 1,686 126 477 — 2,289 Cards 1,564 360 25 — 1,949 Broking income 862 61 616 — 1,539 Credit facilities 93 740 626 — 1,459 Account services 431 598 264 — 1,293 Underwriting 5 9 1,002 (1) 1,015 Global custody 189 22 723 — 934 Unit trusts 881 18 — — 899 Remittances 77 313 288 (1) 677 Imports/exports — 417 160 — 577 Insurance agency commission 307 17 1 — 325 Other 1,123 893 2,369 (2,290) 2,095 Fee income 7,218 3,574 6,551 (2,292) 15,051 Less: fee expense (1,810) (349) (3,284) 2,266 (3,177) Net fee income 5,408 3,225 3,267 (26) 11,874 2019 1 2018 Wealth and Commercial Global Corporate Total Total $m $m $m $m $m $m Funds under management 1,597 120 460 — 2,177 2,221 Cards 1,602 358 15 — 1,975 1,956 Broking income 485 40 532 — 1,057 1,210 Credit facilities 90 785 743 — 1,618 1,723 Account services 991 654 365 (7) 2,003 2,177 Underwriting 3 6 821 (1) 829 723 Global custody 135 18 564 — 717 736 Unit trusts 1,011 22 2 — 1,035 1,038 Remittances 77 362 311 (3) 747 778 Imports/exports 1 497 164 — 662 709 Insurance agency commission 356 20 1 — 377 404 Other 1,284 887 2,353 (2,282) 2,242 2,369 Fee income 7,632 3,769 6,331 (2,293) 15,439 16,044 Less: fee expense (1,998) (380) (3,292) 2,254 (3,416) (3,424) Net Fee income 5,634 3,389 3,039 (39) 12,023 12,620 1 A change in reportable segments was made in 2020. Comparative data have been re-presented accordingly. For further guidance, see Note 10: Segmental Analysis on page 347. |
Net income from financial ins_2
Net income from financial instruments measured at fair value through profit and loss (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Analysis of income and expense [abstract] | |
Disclosure of net income from financial instruments measured at fair value through profit and loss | 2020 2019 2018 Footnotes $m $m $m Net income/(expense) arising on: Net trading activities 11,074 16,121 6,982 Other instruments managed on a fair value basis (1,492) (5,890) 2,549 Net income from financial instruments held for trading or managed on a fair value basis 9,582 10,231 9,531 Financial assets held to meet liabilities under insurance and investment contracts 2,481 3,830 (1,585) Liabilities to customers under investment contracts (400) (352) 97 Net income/(expense) from assets and liabilities of insurance businesses, including related derivatives, measured at fair value through profit or loss 2,081 3,478 (1,488) Derivatives managed in conjunction with HSBC’s issued debt securities 2,619 2,561 (626) Other changes in fair value (2,388) (2,471) 529 Changes in fair value of designated debt and related derivatives 1 231 90 (97) Changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss 455 812 695 Year ended 31 Dec 12,349 14,611 8,641 1 The debt instruments, issued for funding purposes, are designated under the fair value option to reduce an accounting mismatch. 2020 2019 2018 $m $m $m Net income/(expense) arising on: – trading activities (336) (559) (176) – other instruments managed on a fair value basis 1,137 2,036 421 Net income from financial instruments held for trading or managed on a fair value basis 801 1,477 245 Derivatives managed in conjunction with HSBC Holdings-issued debt securities 694 764 (337) Other changes in fair value (1,020) (1,124) 260 Changes in fair value of designated debt and related derivatives (326) (360) (77) Changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss 1,141 1,659 43 Year ended 31 Dec 1,616 2,776 211 |
Insurance business (Tables)
Insurance business (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Insurance Contracts [Abstract] | |
Schedule of net insurance premium income and liabilities under insurance contracts | Net insurance premium income Non-linked Linked life Investment contracts with DPF 1 Total $m $m $m $m Gross insurance premium income 8,321 579 1,563 10,463 Reinsurers’ share of gross insurance premium income (362) (8) — (370) Year ended 31 Dec 2020 7,959 571 1,563 10,093 Gross insurance premium income 9,353 489 2,266 12,108 Reinsurers’ share of gross insurance premium income (1,465) (7) — (1,472) Year ended 31 Dec 2019 7,888 482 2,266 10,636 Gross insurance premium income 8,616 422 2,300 11,338 Reinsurers’ share of gross insurance premium income (672) (7) — (679) Year ended 31 Dec 2018 7,944 415 2,300 10,659 1 Discretionary participation features. Net insurance claims and benefits paid and movement in liabilities to policyholders Non-linked Linked life Investment contracts with DPF 1 Total $m $m $m $m Gross claims and benefits paid and movement in liabilities 10,050 1,112 1,853 13,015 – claims, benefits and surrenders paid 3,695 900 2,083 6,678 – movement in liabilities 6,355 212 (230) 6,337 Reinsurers’ share of claims and benefits paid and movement in liabilities (366) (4) — (370) – claims, benefits and surrenders paid (430) (10) — (440) – movement in liabilities 64 6 — 70 Year ended 31 Dec 2020 9,684 1,108 1,853 12,645 Gross claims and benefits paid and movement in liabilities 11,305 1,217 3,810 16,332 – claims, benefits and surrenders paid 3,783 900 1,921 6,604 – movement in liabilities 7,522 317 1,889 9,728 Reinsurers’ share of claims and benefits paid and movement in liabilities (1,402) (4) — (1,406) – claims, benefits and surrenders paid (411) (17) — (428) – movement in liabilities (991) 13 — (978) Year ended 31 Dec 2019 9,903 1,213 3,810 14,926 Gross claims and benefits paid and movement in liabilities 8,943 (446) 1,724 10,221 – claims, benefits and surrenders paid 3,852 1,088 1,869 6,809 – movement in liabilities 5,091 (1,534) (145) 3,412 Reinsurers’ share of claims and benefits paid and movement in liabilities (605) 191 — (414) – claims, benefits and surrenders paid (311) (181) — (492) – movement in liabilities (294) 372 — 78 Year ended 31 Dec 2018 8,338 (255) 1,724 9,807 1 Discretionary participation features. Liabilities under insurance contracts Non-linked Linked life Investment contracts with DPF 1 Total Footnotes $m $m $m $m Gross liabilities under insurance contracts at 1 Jan 2020 65,324 6,151 25,964 97,439 Claims and benefits paid (3,695) (900) (2,083) (6,678) Increase in liabilities to policyholders 10,050 1,112 1,853 13,015 Exchange differences and other movements 2 785 86 2,544 3,415 Gross liabilities under insurance contracts at 31 Dec 2020 72,464 6,449 28,278 107,191 Reinsurers’ share of liabilities under insurance contracts (3,434) (14) — (3,448) Net liabilities under insurance contracts at 31 Dec 2020 69,030 6,435 28,278 103,743 Gross liabilities under insurance contracts at 1 Jan 2019 57,283 5,789 24,258 87,330 Claims and benefits paid (3,804) (900) (1,900) (6,604) Increase in liabilities to policyholders 11,326 1,217 3,789 16,332 Exchange differences and other movements 2 519 45 (183) 381 Gross liabilities under insurance contracts at 31 Dec 2019 65,324 6,151 25,964 97,439 Reinsurers’ share of liabilities under insurance contracts (3,521) (71) — (3,592) Net liabilities under insurance contracts at 31 Dec 2019 61,803 6,080 25,964 93,847 1 Discretionary participation features. 2 ‘Exchange differences and other movements’ includes movements in liabilities arising from net unrealised investment gains recognised in other comprehensive income. |
Employee compensation and ben_2
Employee compensation and benefits (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Employee Compensation And Benefits [Abstract] | |
Disclosure of employee compensation and benefits | 2020 2019 2018 $m $m $m Wages and salaries 15,752 15,581 14,751 Social security costs 1,378 1,472 1,490 Post-employment benefits 946 949 1,132 Year ended 31 Dec 18,076 18,002 17,373 |
Disclosure of average number of employees | Average number of persons employed by HSBC during the year by global business 2020 2019 1 2018 1 Wealth and Personal Banking 144,615 148,680 144,109 Commercial Banking 45,631 46,584 48,983 Global Banking and Markets 49,055 51,313 49,217 Corporate Centre 411 478 541 Year ended 31 Dec 239,712 247,055 242,850 1 A change in reportable segments was made in 2020. Comparative data have been re-presented accordingly. For further guidance, see Note 10: Segmental analysis on page 347. Average number of persons employed by HSBC during the year by geographical region 2020 2019 2018 Europe 64,886 66,392 67,007 Asia 129,923 133,624 127,992 Middle East and North Africa 9,550 9,798 9,798 North America 15,430 16,615 17,350 Latin America 19,923 20,626 20,703 Year ended 31 Dec 239,712 247,055 242,850 |
Disclosure of total incentive awards granted to income statement charge | Reconciliation of total incentive awards granted to income statement charge 2020 2019 2018 $m $m $m Total incentive awards approved for the current year 2,659 3,341 3,473 Less: deferred bonuses awarded, expected to be recognised in future periods (239) (337) (351) Total incentives awarded and recognised in the current year 2,420 3,004 3,122 Add: current year charges for deferred bonuses from previous years 286 327 322 Other 2 (55) (70) Income statement charge for incentive awards 2,708 3,276 3,374 |
Explanation of effect of share-based payments on entity's profit or loss | ‘Wages and salaries’ includes the effect of share-based payments arrangements, of which $434m was equity settled (2019: $478m; 2018: $450m), as follows: 2020 2019 2018 $m $m $m Conditional share awards 411 521 499 Savings-related and other share award option plans 51 30 23 Year ended 31 Dec 462 551 522 |
Disclosure of terms and conditions of share-based payment arrangement | HSBC share awards Award Policy Deferred share awards (including annual incentive awards, LTI awards delivered in shares) and Group Performance Share Plans (‘GPSP’) An assessment of performance over the relevant period ending on 31 December is used to determine the amount of the award to be granted. • Deferred awards generally require employees to remain in employment over the vesting period and are generally not subject to performance conditions after the grant date. An exception to these are the LTI awards, which are subject to performance conditions. • Deferred share awards generally vest over a period of three five • Vested shares may be subject to a retention requirement post-vesting. GPSP awards are retained until cessation of employment. • Awards are subject to a malus provision prior to vesting. • Awards granted to Material Risk Takers from 2015 onwards are subject to clawback post-vesting. International Employee Share Purchase Plan (‘ShareMatch’) The plan was first introduced in Hong Kong in 2013 and now includes employees based in 27 jurisdictions. • Shares are purchased in the market each quarter up to a maximum value of £750, or the equivalent in local currency. • Matching awards are added at a ratio of one free share for every three purchased. • Matching awards vest subject to continued employment and the retention of the purchased shares for a maximum period of two years and nine months. HSBC share option plans Main plans Policy Savings-related share option plans (‘Sharesave’) • From 2014, employees eligible for the UK plan could save up to £500 per month with the option to use the savings to acquire shares. • These are generally exercisable within six months following either the third or fifth anniversary of the commencement of a three five • The exercise price is set at a 20% (2019: 20%) discount to the market value immediately preceding the date of invitation. |
Disclosure of number of other equity instruments | Movement on HSBC share awards 2020 2019 Number Number (000s) (000s) Conditional share awards outstanding at 1 Jan 97,055 94,897 Additions during the year 72,443 71,858 Released in the year (60,673) (67,737) Forfeited in the year (5,352) (1,963) Conditional share awards outstanding at 31 Dec 103,473 97,055 Weighted average fair value of awards granted ($) 7.28 7.89 |
Disclosure of number and weighted average exercise prices of share options | Movement on HSBC share option plans Savings-related Number WAEP 1 Footnotes (000s) £ Outstanding at 1 Jan 2020 65,060 4.81 Granted during the year 2 111,469 2.63 Exercised during the year 3 (1,387) 4.48 Expired during the year (43,032) 4.81 Forfeited during the year (1,158) 4.88 Outstanding at 31 Dec 2020 130,952 2.97 – of which exercisable 8,170 4.50 Weighted average remaining contractual life (years) 3.68 Outstanding at 1 Jan 2019 57,065 4.92 Granted during the year 2 32,130 4.69 Exercised during the year 3 (11,806) 4.40 Expired during the year (11,321) 5.46 Forfeited during the year (1,008) 4.99 Outstanding at 31 Dec 2019 65,060 4.81 – of which exercisable 2,149 4.53 Weighted average remaining contractual life (years) 2.77 1 Weighted average exercise price. 2 The weighted average fair value of options granted during the year was $0.47 (2019: $1.36). 3 The weighted average share price at the date the options were exercised was $7.08 (2019: $7.99). |
Disclosure of defined benefit plan expense recognized In profit or loss | Income statement charge 2020 2019 2018 $m $m $m Defined benefit pension plans 146 176 355 Defined contribution pension plans 775 758 756 Pension plans 921 934 1,111 Defined benefit and contribution healthcare plans 25 15 21 Year ended 31 Dec 946 949 1,132 |
Disclosure of net defined benefit liability (asset) | Net assets/(liabilities) recognised on the balance sheet in respect of defined benefit plans Fair value of Present value Effect of Total $m $m $m $m Defined benefit pension plans 52,990 (43,995) (44) 8,951 Defined benefit healthcare plans 114 (639) — (525) At 31 Dec 2020 53,104 (44,634) (44) 8,426 Total employee benefit liabilities (within Note 26 ‘Accruals, deferred income and other liabilities’) (2,025) Total employee benefit assets (within Note 22 ‘Prepayments, accrued income and other assets’) 10,450 Defined benefit pension plans 47,567 (40,582) (16) 6,969 Defined benefit healthcare plans 121 (580) — (459) At 31 Dec 2019 47,688 (41,162) (16) 6,510 Total employee benefit liabilities (within Note 26 ‘Accruals, deferred income and other liabilities’) (1,771) Total employee benefit assets (within Note 22 ‘Prepayments, accrued income and other assets’) 8,280 Net asset/(liability) under defined benefit pension plans Fair value of plan assets Present value of defined benefit obligations Effect of the asset ceiling Net defined benefit asset/(liability) Principal 1 plan Other Principal 1 plan Other Principal 1 plan Other Principal 1 plan Other $m $m $m $m $m $m $m $m At 1 Jan 2020 37,874 9,693 (30,158) (10,424) — (16) 7,716 (747) Service cost — — (68) (172) — — (68) (172) – current service cost — — (28) (184) — — (28) (184) – past service cost and gains/(losses) from settlements — — (40) 12 — — (40) 12 Net interest income/(cost) on the net defined benefit asset/(liability) 726 233 (575) (245) — — 151 (12) Remeasurement effects recognised in other comprehensive income 3,173 879 (2,118) (547) — (26) 1,055 306 – return on plan assets (excluding interest income) 3,173 692 — — — — 3,173 692 – actuarial gains/(losses) 2 — — (2,118) (428) — — (2,118) (428) – other changes — 187 — (119) — (26) — 42 Exchange differences 1,446 249 (1,100) (387) — (2) 346 (140) Benefits paid (1,148) (652) 1,148 727 — — — 75 Other movements 4 434 83 (134) 58 — — 300 141 At 31 Dec 2020 42,505 10,485 (33,005) (10,990) — (44) 9,500 (549) At 1 Jan 2019 34,074 8,725 (26,616) (9,967) — (35) 7,458 (1,277) Service cost — — (64) (246) — — (64) (246) – current service cost — — (40) (183) — — (40) (183) – past service cost and losses from settlements — — (24) (63) — — (24) (63) Net interest income/(cost) on the net defined benefit asset/(liability) 939 269 (728) (293) — — 211 (24) Remeasurement effects recognised in other comprehensive income 2,205 867 (2,548) (521) — 20 (343) 366 – return on plan assets (excluding interest income) 2,205 870 — — — — 2,205 870 – actuarial gains/(losses) 2,3 — — (2,548) (507) — — (2,548) (507) – other changes 3 — (3) — (14) — 20 — 3 Exchange differences 1,300 181 (1,036) (180) — (1) 264 — Benefits paid (1,014) (620) 1,014 694 — — — 74 Other movements 4 370 271 (180) 89 — — 190 360 At 31 Dec 2019 37,874 9,693 (30,158) (10,424) — (16) 7,716 (747) 1 For further details of the principal plan, see page 339. 2 Actuarial gains/(losses) for our principal plan includes losses relating to financial assumptions of $3,179m (2019: $3,049m), gains relating to demographic assumptions of $86m (2019: $186m) and experience adjustments of $975m (2019: $315m). Actuarial gains/(losses) for our other plans includes losses relating to financial assumptions of $564m (2019: $847m), gains relating to demographic assumptions of $49m (2019: $94m) and experience adjustments of $87m (2019: $246m). 3 The comparatives have been re-presented to reclassify gains and losses relating to demographic and experience assumptions in other plans from 'other changes' to 'actuarial gains and losses’. 4 Other movements include contributions by HSBC, contributions by employees, administrative costs and taxes paid by plan. |
Disclosure of information about maturity profile of defined benefit obligation | Benefits expected to be paid from the plans to retirees over each of the next five years, and in aggregate for the five years thereafter, are as follows: Benefits expected to be paid from plans 2021 2022 2023 2024 2025 2026-2030 $m $m $m $m $m $m The principal plan 1,2 1,274 1,312 1,352 1,393 1,434 7,840 Other plans 1 495 520 486 472 470 2,322 1 The duration of the defined benefit obligation is 17.4 years for the principal plan under the disclosure assumptions adopted (2019: 18.1 years) and 13.5 years for all other plans combined (2019: 13.2 years). 2 For further details of the principal plan, see page 339. |
Disclosure of fair value of plan assets | Fair value of plan assets by asset classes 31 Dec 2020 31 Dec 2019 Value Quoted No quoted Thereof 1 Value Quoted No quoted Thereof 1 $m $m $m $m $m $m $m $m The principal plan 2 Fair value of plan assets 42,505 37,689 4,816 973 37,874 33,921 3,953 1,183 – equities 268 7 261 — 662 312 350 — – bonds 36,198 35,479 719 — 31,699 31,699 — — – derivatives 1,973 — 1,973 973 2,052 — 2,052 1,183 – other 4,066 2,203 1,863 — 3,461 1,910 1,551 — Other plans Fair value of plan assets 10,485 9,512 973 54 9,693 8,702 991 239 – equities 1,484 1,069 415 3 2,065 1,455 610 2 – bonds 7,624 7,143 481 10 6,608 6,376 232 8 – derivatives (57) — (57) — — — — — – other 1,434 1,300 134 41 1,020 871 149 229 1 The fair value of plan assets includes derivatives entered into with HSBC Bank plc as detailed in Note 35. These derivatives are presented within the principal plan at 31 December 2020. Comparatives have been re-presented. 2 For further details on the principal plan, see page 339. |
Disclosure of defined benefit plans | Key actuarial assumptions for the principal plan 1 Discount rate Inflation rate Rate of increase for pensions Rate of pay increase % % % % UK At 31 Dec 2020 1.45 3.05 3.00 2.75 At 31 Dec 2019 2.00 3.10 2.90 3.65 1 For further details on the principal plan, see page 339. Mortality tables and average life expectancy at age 60 1 for the principal plan Mortality Life expectancy at age 60 for Life expectancy at age 60 for Aged 60 Aged 40 Aged 60 Aged 40 UK At 31 Dec 2020 SAPS S3 2 27.0 28.5 28.1 29.7 At 31 Dec 2019 SAPS S2 3 28.0 29.4 28.2 29.8 1 For further details of the principal plan, see page 339. 2 Self-administered pension scheme (‘SAPS’) S3 table (males: 'Normal health pensioners, Light' version; females: 'Normal health pensioners, Heavy' version) with a multiplier of 1 for both male and female pensioners. Improvements are projected in accordance with the continual mortality investigation (‘CMI’) 2019 core projection model with a long-term rate of improvement of 0.25% per annum and a long-term rate of improvement of 1.25% per annum. Separate tables have been applied to lower-paid pensioners and dependant members. 3 Self-administered pension scheme (‘SAPS’) S2 table (males: 'Normal health pensioners' version; females: 'All pensioners' version) with a multiplier of 0.94 for male and 1.15 for female pensioners. Improvements are projected in accordance with the continual mortality investigation (‘CMI’) 2019 core projection model with an initial addition to improvements of 0.25% per annum and a long-term rate of improvement of 1.25% per annum. Separate tables have been applied to lower-paid pensioners and dependant members. |
Disclosure of sensitivity analysis for actuarial assumptions | The effect of changes in key assumptions on the principal plan 1 Impact on HBUK section of the HSBC Bank (UK) Pension Scheme obligation Financial impact of increase Financial impact of decrease 2020 2019 2020 2019 $m $m $m $m Discount rate – increase/decrease of 0.25% (1,383) (1,305) 1,475 1,395 Inflation rate – increase/decrease of 0.25% 871 781 (830) (738) Pension payments and deferred pensions – increase/decrease of 0.25% 1,307 1,100 (1,222) (1,026) Pay – increase/decrease of 0.25% 60 73 (59) (72) Change in mortality – increase of 1 year 1,453 1,267 N/A N/A 1 For further details of the principal plan, see page 339. |
Auditor's remuneration (Tables)
Auditor's remuneration (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Additional information [abstract] | |
Schedule of auditor's remuneration | 2020 2019 2018 $m $m $m Audit fees payable to PwC 92.9 85.2 86.6 Other audit fees payable 1.0 0.9 0.9 Year ended 31 Dec 93.9 86.1 87.5 Fees payable by HSBC to PwC 2020 2019 2018 Footnotes $m $m $m Fees for HSBC Holdings’ statutory audit 1 21.9 15.7 16.4 Fees for other services provided to HSBC 108.3 95.0 103.1 – audit of HSBC’s subsidiaries 71.0 69.5 70.2 – audit-related assurance services 2 17.2 10.0 11.4 – other assurance services 3,4 20.1 12.2 13.5 – taxation compliance services — 1.6 1.4 – taxation advisory services — — 0.1 – other non-audit services 3 — 1.7 6.5 Year ended 31 Dec 130.2 110.7 119.5 1 Fees payable to PwC for the statutory audit of the consolidated financial statements of HSBC and the separate financial statements of HSBC Holdings. They include amounts payable for services relating to the consolidation returns of HSBC Holdings’ subsidiaries, which are clearly identifiable as being in support of the Group audit opinion. 2 Including services for assurance and other services that relate to statutory and regulatory filings, including interim reviews. 3 Including permitted services relating to attestation reports on internal controls of a service organisation primarily prepared for and used by third party end user, including comfort letters. 4 Includes reviews of PRA regulatory reporting returns in 2020. |
Schedule of fees payable by HSBC's associated pension schemes to PwC | Fees payable by HSBC’s associated pension schemes to PwC 2020 2019 2018 $000 $000 $000 Audit of HSBC’s associated pension schemes 316 250 172 Year ended 31 Dec 316 250 172 |
Tax (Tables)
Tax (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Income Taxes [Abstract] | |
Schedule of tax expense | Tax expense 2020 2019 2018 Footnotes $m $m $m Current tax 1 2,700 3,768 4,195 – for this year 2,883 3,689 4,158 – adjustments in respect of prior years (183) 79 37 Deferred tax (22) 871 670 – origination and reversal of temporary differences (341) 684 656 – effect of changes in tax rates 58 (11) 17 – adjustments in respect of prior years 261 198 (3) Year ended 31 Dec 2 2,678 4,639 4,865 1 Current tax included Hong Kong profits tax of $888m (2019: $1,413m; 2018: $1,532m). The Hong Kong tax rate applying to the profits of subsidiaries assessable in Hong Kong was 16.5% (2019: 16.5%; 2018: 16.5%). |
Schedule of tax reconciliation | The tax charged to the income statement differs from the tax charge that would apply if all profits had been taxed at the UK corporation tax rate as follows: 2020 2019 2018 $m % $m % $m % Profit before tax 8,777 13,347 19,890 Tax expense Taxation at UK corporation tax rate of 19.00% (2019: 19.00%; 2018: 19.00%) 1,668 19.0 2,536 19.0 3,779 19.0 Impact of differently taxed overseas profits in overseas locations 178 2.0 253 1.9 264 1.3 Items increasing tax charge in 2020: – non-UK movements in unrecognised deferred tax 608 6.9 12 0.1 32 0.2 – UK tax losses not recognised 444 5.1 364 2.7 435 2.2 – other permanent disallowables 322 3.6 481 3.6 396 2.0 – local taxes and overseas withholding taxes 228 2.6 484 3.6 437 2.2 – bank levy 202 2.3 184 1.4 191 1.0 – adjustments in respect of prior period liabilities 78 0.9 277 2.1 34 0.2 – impacts of hyperinflation 65 0.7 29 0.2 78 0.4 – impact of changes in tax rates 58 0.6 (11) (0.1) 17 0.1 – non-deductible regulatory settlements 33 0.4 5 — 153 0.8 – non-deductible goodwill write-down — — 1,421 10.7 — — Items reducing tax charge in 2020: – non-taxable income and gains (515) (5.8) (844) (6.3) (691) (3.5) – deductions for AT1 coupon payments (310) (3.5) (263) (2.0) — — – effect of profits in associates and joint ventures (250) (2.8) (467) (3.5) (492) (2.5) – UK banking surcharge (113) (1.3) 29 0.2 229 1.1 – non-deductible UK customer compensation (18) (0.2) 382 2.9 16 0.1 – non-taxable gain on dilution of shareholding in SABB — — (181) (1.3) — — – other items — — (52) (0.4) (13) (0.1) Year ended 31 Dec 2,678 30.5 4,639 34.8 4,865 24.5 |
Schedule of movement of deferred tax assets and liabilities | Movement of deferred tax assets and liabilities Loan Unused tax Derivatives, FVOD 1 and other investments Insurance Expense Fixed assets Retirement obligations Other Total Footnotes $m $m $m $m $m $m $m $m $m Assets 983 1,414 979 — 650 1,002 — 422 5,450 Liabilities — — (558) (1,621) — — (1,613) (401) (4,193) At 1 Jan 2020 983 1,414 421 (1,621) 650 1,002 (1,613) 21 1,257 Income statement 295 355 (274) (32) (81) (112) (190) 61 22 Other comprehensive income — — (23) — — — (387) (660) (1,070) Equity — — — — — — — — — Foreign exchange and other adjustments (36) 52 (281) 31 (4) 11 (116) 304 (39) At 31 Dec 2020 1,242 1,821 (157) (1,622) 565 901 (2,306) (274) 170 Assets 2 1,242 1,821 548 — 565 901 — 960 6,037 Liabilities 2 — — (705) (1,622) — — (2,306) (1,234) (5,867) Assets 982 1,156 492 — 629 1,151 — 738 5,148 Liabilities — — (376) (1,271) — — (1,387) (283) (3,317) At 1 Jan 2019 982 1,156 116 (1,271) 629 1,151 (1,387) 455 1,831 Income statement 45 266 (386) (303) (18) (185) (149) (141) (871) Other comprehensive income — — 544 — — — 30 (391) 183 Equity — — — — — — — — — Foreign exchange and other adjustments (44) (8) 147 (47) 39 36 (107) 98 114 At 31 Dec 2019 983 1,414 421 (1,621) 650 1,002 (1,613) 21 1,257 Assets 2 983 1,414 979 — 650 1,002 — 422 5,450 Liabilities 2 — — (558) (1,621) — — (1,613) (401) (4,193) 1 Fair value of own debt. |
Dividends (Tables)
Dividends (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Interim Financial Reporting [Abstract] | |
Disclosure of dividends to shareholders | Dividends to shareholders of the parent company 2020 2019 2018 Per Total Settled Per Total Settled Per Total Settled $ $m $m $ $m $m $ $m $m Dividends paid on ordinary shares In respect of previous year: – fourth interim dividend — — — 0.21 4,206 1,160 0.21 4,197 393 In respect of current year: – first interim dividend — — — 0.10 2,013 375 0.10 2,008 213 – second interim dividend — — — 0.10 2,021 795 0.10 1,990 181 – third interim dividend — — — 0.10 2,029 357 0.10 1,992 707 Total — — — 0.51 10,269 2,687 0.51 10,187 1,494 Total dividends on preference shares classified as equity (paid quarterly) 62.00 90 62.00 90 62.00 90 Total coupons on capital securities classified as equity 1,241 1,324 1,270 Dividends to shareholders 1,331 11,683 11,547 |
Disclosure of coupons on capital securities classified as equity | Total coupons on capital securities classified as equity 2020 2019 2018 Total Total Total Footnotes First call date Per security $m $m $m Perpetual subordinated capital securities 1, 3 $2,200m issued at 8.125% Apr 2013 $0.000 — — 89 $3,800m issued at 8.000% Dec 2015 $0.000 — — 76 Perpetual subordinated contingent convertible securities 2, 3 $1,500m issued at 5.625% 4 Nov 2019 $56.250 — 84 84 $2,000m issued at 6.875% Jun 2021 $68.750 138 138 138 $2,250m issued at 6.375% Sep 2024 $63.750 143 143 143 $2,450m issued at 6.375% Mar 2025 $63.750 156 156 156 $3,000m issued at 6.000% May 2027 $60.000 180 180 180 $2,350m issued at 6.250% Mar 2023 $62.500 147 147 73 $1,800m issued at 6.500% Mar 2028 $65.000 117 117 59 $1,500m issued at 4.600% 5 Jun 2031 $46.000 — — — €1,500m issued at 5.250% Sep 2022 €52.500 90 88 95 €1,000m issued at 6.000% Sep 2023 €60.000 67 66 72 €1,250m issued at 4.750% July 2029 €47.500 67 68 70 £1,000m issued at 5.875% Sep 2026 £58.750 74 75 — SGD1,000m issued at 4.700% Jun 2022 SGD47.000 35 34 35 SGD750m issued at 5.000% Sep 2023 SGD50.000 27 28 — Total 1,241 1,324 1,270 1 Discretionary coupons are paid quarterly on the perpetual subordinated capital securities, in denominations of $25 per security. 2 Discretionary coupons are paid semi-annually on the perpetual subordinated contingent convertible securities, in denominations of each security’s issuance currency 1,000 per security. 3 For further details of these securities, see Note 31. 4 This security was called by HSBC Holdings on 22 November 2019 and was redeemed and cancelled on 17 January 2020. Between the date of exercise of the call option and the redemption, this security was considered to be a subordinated liability. For further details on additional tier 1 securities, see Note 31. 5 This security was issued by HSBC Holdings on 17 December 2020. The first call date commences six calendar months prior to the reset date of 17 June 2031. |
Earnings per share (Tables)
Earnings per share (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Earnings per share [abstract] | |
Disclosure of detailed information on earnings per share | Profit attributable to the ordinary shareholders of the parent company 2020 2019 2018 $m $m $m Profit attributable to shareholders of the parent company 5,229 7,383 13,727 Dividend payable on preference shares classified as equity (90) (90) (90) Coupon payable on capital securities classified as equity (1,241) (1,324) (1,029) Year ended 31 Dec 3,898 5,969 12,608 Basic and diluted earnings per share 2020 2019 2018 Profit Number Per Profit Number Per Profit Number Per Footnotes $m (millions) $ $m (millions) $ $m (millions) $ Basic 1 3,898 20,169 0.19 5,969 20,158 0.30 12,608 19,896 0.63 Effect of dilutive potential ordinary shares 73 75 87 Diluted 1 3,898 20,242 0.19 5,969 20,233 0.30 12,608 19,983 0.63 1 Weighted average number of ordinary shares outstanding (basic) or assuming dilution (diluted). |
Segmental analysis (Tables)
Segmental analysis (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Analysis of income and expense [abstract] | |
Adjusted profit before tax and balance sheet data | HSBC adjusted profit before tax and balance sheet data 2020 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 22,013 13,312 15,303 (262) 50,366 – external 19,990 13,741 18,162 (1,527) 50,366 – inter-segment 2,023 (429) (2,859) 1,265 — of which: net interest income/(expense) 15,090 9,317 4,518 (1,326) 27,599 Change in expected credit losses and other credit impairment (charges)/recoveries (2,855) (4,754) (1,209) 1 (8,817) Net operating income/(expense) 19,158 8,558 14,094 (261) 41,549 Total operating expenses (15,024) (6,689) (9,264) (482) (31,459) Operating profit/(loss) 4,134 1,869 4,830 (743) 10,090 Share of profit in associates and joint ventures 6 (1) — 2,054 2,059 Adjusted profit before tax 4,140 1,868 4,830 1,311 12,149 % % % % % Share of HSBC’s adjusted profit before tax 34.1 15.4 39.7 10.8 100.0 Adjusted cost efficiency ratio 68.3 50.2 60.5 (184.0) 62.5 Adjusted balance sheet data $m $m $m $m $m Loans and advances to customers (net) 469,186 343,182 224,364 1,255 1,037,987 Interests in associates and joint ventures 447 14 143 26,080 26,684 Total external assets 881,918 570,295 1,347,440 184,511 2,984,164 Customer accounts 834,759 470,428 336,983 610 1,642,780 HSBC adjusted profit before tax and balance sheet data (continued) 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 25,565 15,164 14,869 (654) 54,944 – external 21,252 16,094 20,314 (2,716) 54,944 – inter-segment 4,313 (930) (5,445) 2,062 — of which: net interest income/(expense) 17,423 10,957 5,223 (3,264) 30,339 Change in expected credit losses and other credit impairment (charges)/recoveries (1,348) (1,162) (153) 36 (2,627) Net operating income/(expense) 24,217 14,002 14,716 (618) 52,317 Total operating expenses (15,388) (6,832) (9,544) (755) (32,519) Operating profit/(loss) 8,829 7,170 5,172 (1,373) 19,798 Share of profit in associates and joint ventures 54 — — 2,297 2,351 Adjusted profit before tax 8,883 7,170 5,172 924 22,149 % % % % % Share of HSBC’s adjusted profit before tax 40.1 32.4 23.4 4.2 100.0 Adjusted cost efficiency ratio 60.2 45.1 64.2 (115.4) 59.2 Adjusted balance sheet data $m $m $m $m $m Loans and advances to customers (net) 455,618 353,781 252,131 1,166 1,062,696 Interests in associates and joint ventures 449 14 16 24,941 25,420 Total external assets 793,100 523,585 1,310,772 156,354 2,783,811 Customer accounts 768,151 397,182 304,094 780 1,470,207 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 2020. Comparative data have been re-presented accordingly. HSBC adjusted profit before tax and balance sheet data (continued) 2018 2 Wealth and Personal Banking Commercial Global Corporate Total Footnotes $m $m $m $m $m Net operating income/(expense) before change in expected credit losses and other credit impairment charges 1 23,551 14,374 15,056 (883) 52,098 – external 19,096 14,675 18,780 (453) 52,098 – inter-segment 4,455 (301) (3,724) (430) — of which: net interest income/(expense) 16,418 10,220 4,880 (2,070) 29,448 Change in expected credit losses and other credit impairment (charges)/recoveries (1,072) (683) 34 101 (1,620) Net operating income/(expense) 22,479 13,691 15,090 (782) 50,478 Total operating expenses (14,614) (6,307) (9,316) (1,486) (31,723) Operating profit/(loss) 7,865 7,384 5,774 (2,268) 18,755 Share of profit in associates and joint ventures 32 — — 2,412 2,444 Adjusted profit before tax 7,897 7,384 5,774 144 21,199 % % % % % Share of HSBC’s adjusted profit before tax 37.3 34.8 27.2 0.7 100.0 Adjusted cost efficiency ratio 62.1 43.9 61.9 (168.3) 60.9 Adjusted balance sheet data $m $m $m $m $m Loans and advances to customers (net) 419,231 344,855 253,319 1,599 1,019,004 Interests in associates and joint ventures 399 — — 22,753 23,152 Total external assets 741,222 520,403 1,261,807 128,021 2,651,453 Customer accounts 729,902 372,551 306,438 831 1,409,722 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 2020. Comparative data have been re-presented accordingly. |
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: 2020 2019 2018 Footnotes $m $m $m Reported external net operating income by country/territory 1 50,429 56,098 53,780 – UK 9,163 9,011 10,340 – Hong Kong 15,783 18,449 17,162 – US 4,474 4,471 4,379 – France 1,753 1,942 1,898 – other countries 19,256 22,225 20,001 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 2020 2019 2018 Adjusted Significant Reported Adjusted Currency Significant Reported Adjusted Currency Significant Reported Footnotes $m $m $m $m $m $m $m $m $m $m $m Revenue 1 50,366 63 50,429 54,944 471 683 56,098 52,098 1,854 (172) 53,780 ECL (8,817) — (8,817) (2,627) (129) — (2,756) (1,620) (147) — (1,767) Operating expenses (31,459) (2,973) (34,432) (32,519) (223) (9,607) (42,349) (31,723) (1,280) (1,656) (34,659) Share of profit in associates and joint ventures 2,059 (462) 1,597 2,351 3 — 2,354 2,444 92 — 2,536 Profit/(loss) before tax 12,149 (3,372) 8,777 22,149 122 (8,924) 13,347 21,199 519 (1,828) 19,890 1 Net operating income before change in expected credit losses and other credit impairment charges, also referred to as revenue. Adjusted balance sheet reconciliation 2020 2019 2018 Reported and Adjusted Currency translation Reported Adjusted Currency translation Reported $m $m $m $m $m $m $m Loans and advances to customers (net) 1,037,987 1,062,696 (25,953) 1,036,743 1,019,004 (37,308) 981,696 Interests in associates and joint ventures 26,684 25,420 (946) 24,474 23,152 (745) 22,407 Total external assets 2,984,164 2,783,811 (68,659) 2,715,152 2,651,453 (93,329) 2,558,124 Customer accounts 1,642,780 1,470,207 (31,092) 1,439,115 1,409,722 (47,079) 1,362,643 Adjusted profit reconciliation 2020 2019 2018 Footnotes $m $m $m Year ended 31 Dec Adjusted profit before tax 12,149 22,149 21,199 Significant items (3,372) (8,924) (1,828) – customer redress programmes (revenue) (21) (163) 53 – disposals, acquisitions and investment in new businesses (revenue) (10) 768 (113) – fair value movements on financial instruments 1 264 84 (100) – restructuring and other related costs (revenue) 2 (170) — — – costs of structural reform 3 — (158) (361) – customer redress programmes (operating expenses) 54 (1,281) (146) – disposals, acquisitions and investment in new businesses (operating expenses) — — (52) – impairment of goodwill and other intangible assets (1,090) (7,349) — – past service costs of guaranteed minimum pension benefits equalisation (17) — (228) – restructuring and other related costs (operating expenses) 4 (1,908) (827) (66) – settlements and provisions in connection with legal and other regulatory matters (12) 61 (816) – impairment of goodwill (share of profit in associates and joint ventures) 5 (462) — — – currency translation on significant items (59) 1 Currency translation 122 519 Reported profit before tax 8,777 13,347 19,890 1 Includes fair value movements on non-qualifying hedges and debt valuation adjustments on derivatives. 2 Comprises losses associated with the RWA reduction commitments and gains relating to the business update in February 2020. 3 Comprises costs associated with preparations for the UK’s exit from the European Union, costs to establish the UK ring-fenced bank (including the UK ServCo group) and costs associated with establishing an intermediate holding company in Hong Kong. 4 Includes impairment of software intangible assets of $189m (of the total software intangible asset impairment of $1,347m) and impairment of tangible assets of $197m. 5 During the year, The Saudi British Bank ('SABB'), an associate of HSBC, impaired the goodwill that arose following the merger with Alawwal bank in 2019. HSBC's post-tax share of the goodwill impairment was $462m. |
Trading assets (Tables)
Trading assets (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Financial Instruments [Abstract] | |
Trading assets | 2020 2019 Footnotes $m $m Treasury and other eligible bills 24,035 21,789 Debt securities 102,846 126,043 Equity securities 77,643 78,827 Trading securities 204,524 226,659 Loans and advances to banks 1 8,242 8,402 Loans and advances to customers 1 19,224 19,210 Year ended 31 Dec 231,990 254,271 1 Loans and advances to banks and customers include reverse repos, stock borrowing and other accounts. Trading securities 1 2020 2019 Footnotes $m $m US Treasury and US Government agencies 2 17,393 25,722 UK Government 8,046 10,040 Hong Kong Government 6,500 9,783 Other governments 70,580 72,456 Asset-backed securities 3 4,253 4,691 Corporate debt and other securities 20,109 25,140 Equity securities 77,643 78,827 At 31 Dec 204,524 226,659 1 Included within these figures are debt securities issued by banks and other financial institutions of $10,876m (2019: $17,846m), of which $1,298m (2019: $2,637m) are guaranteed by various governments. 2 Includes securities that are supported by an explicit guarantee issued by the US Government. 3 Excludes asset-backed securities included under US Treasury and US Government agencies. 2020 2019 Designated at fair value Mandatorily measured at fair value Total Designated at fair value Mandatorily measured at fair value Total $m $m $m $m $m $m Securities 2,492 39,088 41,580 2,344 35,808 38,152 – treasury and other eligible bills 635 26 661 630 31 661 – debt securities 1,857 5,250 7,107 1,714 4,838 6,552 – equity securities — 33,812 33,812 — 30,939 30,939 Loans and advances to banks and customers — 2,988 2,988 1 4,555 4,556 Other — 985 985 — 919 919 At 31 Dec 2,492 43,061 45,553 2,345 41,282 43,627 Securities 1 2020 2019 Designated at fair value Mandatorily measured at fair value Total Designated at fair value Mandatorily measured at fair value Total Footnotes $m $m $m $m $m $m Hong Kong Government 22 — 22 4 — 4 Other governments 648 674 1,322 666 754 1,420 Asset-backed securities 2 — 235 235 — 363 363 Corporate debt and other securities 1,822 4,367 6,189 1,674 3,752 5,426 Equities — 33,812 33,812 — 30,939 30,939 At 31 Dec 2,492 39,088 41,580 2,344 35,808 38,152 1 Included within these figures are debt securities issued by banks and other financial institutions of $1,180m (2019 re-presented: $1,244m), of which nil (2019: nil) are guaranteed by various governments. 2 Excludes asset-backed securities included under US Treasury and US Government agencies. Carrying amount of financial investments 2020 2019 $m $m Financial investments measured at fair value through other comprehensive income 402,054 357,577 – treasury and other eligible bills 118,163 95,043 – debt securities 281,467 260,536 – equity securities 2,337 1,913 – other instruments 87 85 Debt instruments measured at amortised cost 88,639 85,735 – treasury and other eligible bills 11,757 10,476 – debt securities 76,882 75,259 At 31 Dec 490,693 443,312 Financial investments at amortised cost and fair value 2020 2019 Amortised cost Fair value 1 Amortised cost Fair value 1 Footnotes $m $m $m $m US Treasury 75,531 78,251 79,633 80,589 US Government agencies 2 19,851 20,320 26,356 26,387 US Government-sponsored entities 10,691 11,224 8,070 8,259 UK Government 28,094 28,754 28,621 28,973 Hong Kong Government 55,483 55,507 47,824 47,820 Other governments 178,091 180,881 140,510 142,511 Asset-backed securities 3 2,708 2,536 2,954 2,889 Corporate debt and other securities 110,015 118,960 101,750 107,364 Equities 1,410 2,337 1,241 1,913 At 31 Dec 481,874 498,770 436,959 446,705 1 Included within ‘fair value’ figures are debt securities issued by banks and other financial institutions of $62bn (2019: $61bn), of which $10bn (2019: $11bn) are guaranteed by various governments. 2 Includes securities that are supported by an explicit guarantee issued by the US Government. 3 Excludes asset-backed securities included under US Government agencies and sponsored entities. Maturities of investments in debt securities at their carrying amount Up to 1 year 1 to 5 years 5 to 10 years Over 10 years Total $m $m $m $m $m Debt securities measured at fair value through other comprehensive income 72,250 131,859 42,168 35,190 281,467 Debt securities measured at amortised cost 6,135 16,499 19,437 34,811 76,882 At 31 Dec 2020 78,385 148,358 61,605 70,001 358,349 Debt securities measured at fair value through other comprehensive income 61,833 123,740 42,831 32,132 260,536 Debt securities measured at amortised cost 5,472 14,395 21,431 33,961 75,259 At 31 Dec 2019 67,305 138,135 64,262 66,093 335,795 Contractual maturities and weighted average yields of investment debt securities Up to 1 year 1 to 5 years 5 to 10 years Over 10 years Amount Yield Amount Yield Amount Yield Amount Yield $m % $m % $m % $m % Debt securities measured at fair value through other comprehensive income US Treasury 6,596 1.2 22,945 1.6 15,618 1.5 4,195 2.3 US Government agencies — — 95 1.8 43 2.8 12,608 1.8 US Government-sponsored agencies 30 2.8 789 2.2 2,988 2.5 4,968 1.8 UK Government 2,765 1.5 5,126 0.8 6,220 0.2 4,910 2.3 Hong Kong Government 84 1.6 247 1.6 167 1.8 — — Other governments 51,507 1.7 62,587 2.3 8,184 1.6 2,089 4.3 Asset-backed securities 18 2.9 93 1.4 399 1.8 2,199 1.2 Corporate debt and other securities 10,831 2.1 35,615 1.4 7,169 1.8 2,583 3.4 Total amortised cost at 31 Dec 2020 71,831 127,497 40,788 33,552 Total carrying value 72,250 131,859 42,168 35,190 Debt securities measured at amortised cost US Treasury 3,769 0.1 4,618 1.6 3,003 2.0 969 2.8 US Government agencies — — 9 3.8 13 4.5 7,084 2.6 US Government-sponsored agencies 110 2.5 258 2.7 436 2.2 1,112 3.3 Hong Kong Government 13 3.0 23 1.6 118 2.6 12 4.8 Other governments 179 3.4 370 4.1 426 3.8 1,011 4.2 Asset-backed securities — — — — — — 2 6.0 Corporate debt and other securities 2,064 3.3 11,221 3.4 15,441 3.4 24,621 3.8 Total amortised cost at 31 Dec 2020 6,135 16,499 19,437 34,811 Total carrying value 6,135 16,497 19,439 34,812 HSBC Holdings carrying amount of financial investments 2020 2019 $m $m Debt instruments measured at amortised cost – treasury and other eligible bills 10,941 10,081 – debt securities 6,544 6,025 At 31 Dec 17,485 16,106 Financial investments at amortised cost and fair value 2020 2019 Amortised cost Fair value Amortised cost Fair value $m $m $m $m US Treasury 17,485 17,521 16,106 16,121 US Government agencies — — — — US Government-sponsored entities — — — — At 31 Dec 17,485 17,521 16,106 16,121 Maturities of investments in debt securities at their carrying amount Up to 1 year 1 to 5 years 5 to 10 years Over 10 years Total $m $m $m $m $m Debt securities measured at amortised cost 3,767 2,777 — — 6,544 At 31 Dec 2020 3,767 2,777 — — 6,544 Debt securities measured at amortised cost 3,010 3,015 — — 6,025 At 31 Dec 2019 3,010 3,015 — — 6,025 Contractual maturities and weighted average yields of investment debt securities Up to 1 year 1 to 5 years 5 to 10 years Over 10 years Amount Yield Amount Yield Amount Yield Amount Yield $m % $m % $m % $m % Debt securities measured at amortised cost US Treasury 3,767 1.5 2,777 0.3 — — — — US Government agencies — — — — — — — — US Government-sponsored agencies — — — — — — — — Total amortised cost at 31 Dec 2020 3,767 2,777 — — Total carrying value 3,767 2,777 — — |
Fair values of financial inst_3
Fair values of financial instruments carried at fair value (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Fair Value Measurement [Abstract] | |
Disclosure of fair value measurement of assets | Financial instruments carried at fair value and bases of valuation 2020 2019 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total $m $m $m $m $m $m $m $m Recurring fair value measurements at 31 Dec Assets Trading assets 167,980 61,511 2,499 231,990 186,653 62,639 4,979 254,271 Financial assets designated and otherwise mandatorily measured at fair value through profit or loss 19,711 14,365 11,477 45,553 18,626 15,525 9,476 43,627 Derivatives 2,602 302,454 2,670 307,726 1,728 239,131 2,136 242,995 Financial investments 303,654 94,746 3,654 402,054 261,341 93,018 3,218 357,577 Liabilities Trading liabilities 53,290 21,814 162 75,266 66,925 16,192 53 83,170 Financial liabilities designated at fair value 1,267 150,866 5,306 157,439 9,549 149,901 5,016 164,466 Derivatives 1,788 297,025 4,188 303,001 1,331 235,864 2,302 239,497 Transfers between Level 1 and Level 2 fair values Assets Liabilities Financial Trading Designated and otherwise Derivatives Trading Designated Derivatives $m $m $m $m $m $m $m At 31 Dec 2020 Transfers from Level 1 to Level 2 4,514 3,891 245 — 155 7,414 — Transfers from Level 2 to Level 1 7,764 5,517 328 1 433 — — 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 930 4 10,971 — 11,905 4 — — 4 Asset-backed securities 1,286 523 25 — 1,834 — — — — Loans held for securitisation — — — — — — — — — Structured notes — — — — — 29 5,301 — 5,330 Derivatives with monolines — — — 68 68 — — — — Other derivatives — — — 2,602 2,602 — — 4,187 4,187 Other portfolios 1,438 1,972 481 — 3,891 129 5 1 135 At 31 Dec 2020 3,654 2,499 11,477 2,670 20,300 162 5,306 4,188 9,656 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 17 (6) 504 2,281 307 (59) 3,398 – net income/(losses) from financial instruments held for trading or managed on a fair value basis — (6) — 2,281 307 — 3,398 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 504 — — (59) — – gains less losses from financial investments at fair value through other comprehensive income 17 — — — — — — – expected credit loss charges and other credit risk charges — — — — — — — Total gains recognised in other comprehensive income (‘OCI’) 1 394 115 286 143 17 204 169 – financial investments: fair value gains 270 — — — — — — – exchange differences 124 115 286 143 17 204 169 Purchases 671 687 3,701 — 66 — — New issuances — — 1 — 6 1,876 — Sales (674) (1,579) (2,042) — (260) — — Settlements (530) (1,122) (435) (1,542) (26) (1,531) (1,462) Transfers out (101) (1,790) (140) (565) (9) (777) (528) Transfers in 659 1,215 126 217 8 577 309 At 31 Dec 2020 3,654 2,499 11,477 2,670 162 5,306 4,188 Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at 31 Dec 2020 — (32) 412 707 1 (91) (1,621) – net income/(losses) from financial instruments held for trading or managed on a fair value basis — (32) — 707 1 — (1,621) – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 412 — — (91) — – loan impairment recoveries and other credit risk provisions — — — — — — — Movement in Level 3 financial instruments (continued) 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 2019 2,796 6,759 7,080 2,423 58 5,328 1,756 Total gains/(losses) recognised in profit or loss 6 (112) 587 278 (4) 195 930 – net income/(losses) from financial instruments held for trading or managed on a fair value basis — (112) — 278 (4) — 930 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 587 — — 195 — – gains less losses from financial investments at fair value through other comprehensive income 10 — — — — — — – expected credit loss charges and other credit risk charges (4) — — — — — — Total gains/(losses) recognised in other comprehensive income (‘OCI’) 1 309 76 (4) 49 1 18 52 – financial investments: fair value gains 301 — — — — — — – exchange differences 8 76 (4) 49 1 18 52 Purchases 693 2,206 2,506 — 8 157 — New issuances — 154 — — 6 1,601 — Sales (56) (895) (276) — (9) (193) — Settlements (329) (2,107) (434) (100) (7) (1,048) (162) Transfers out (488) (1,558) (23) (710) (9) (1,079) (473) Transfers in 287 456 40 196 9 37 199 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/(losses) 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. Basis of valuing HSBC Holdings’ financial assets and liabilities measured at fair value 2020 2019 $m $m Valuation technique using observable inputs: Level 2 Assets at 31 Dec – derivatives 4,698 2,002 – designated and otherwise mandatorily measured at fair value through profit or loss 65,253 61,964 Liabilities at 31 Dec – designated at fair value 25,664 30,303 – derivatives 3,060 2,021 Fair values of financial instruments not carried at fair value and bases of valuation Fair value Carrying Quoted market Observable Significant Total $m $m $m $m $m At 31 Dec 2020 Assets Loans and advances to banks 81,616 — 80,457 1,339 81,796 Loans and advances to customers 1,037,987 — 9,888 1,025,573 1,035,461 Reverse repurchase agreements – non-trading 230,628 — 230,330 272 230,602 Financial investments – at amortised cost 88,639 28,722 67,572 507 96,801 Liabilities Deposits by banks 82,080 — 81,996 — 81,996 Customer accounts 1,642,780 — 1,642,988 143 1,643,131 Repurchase agreements – non-trading 111,901 3 111,898 — 111,901 Debt securities in issue 95,492 — 96,371 657 97,028 Subordinated liabilities 21,951 — 28,552 — 28,552 At 31 Dec 2019 Assets Loans and advances to banks 69,203 — 68,508 739 69,247 Loans and advances to customers 1,036,743 — 10,365 1,027,178 1,037,543 Reverse repurchase agreements – non-trading 240,862 16 240,199 691 240,906 Financial investments – at amortised cost 85,735 26,202 62,572 287 89,061 Liabilities Deposits by banks 59,022 — 58,951 — 58,951 Customer accounts 1,439,115 — 1,439,362 150 1,439,512 Repurchase agreements – non-trading 140,344 — 140,344 — 140,344 Debt securities in issue 104,555 — 104,936 — 104,936 Subordinated liabilities 24,600 — 28,861 385 29,246 Fair values of HSBC Holdings’ financial instruments not carried at fair value on the balance sheet 2020 2019 Carrying amount Fair value 1 Carrying amount Fair value 1 $m $m $m $m Assets at 31 Dec Loans and advances to HSBC undertakings 10,443 10,702 10,218 10,504 Financial investments – at amortised cost 17,485 17,521 16,106 16,121 Liabilities at 31 Dec Amounts owed to HSBC undertakings 330 330 464 464 Debt securities in issue 64,029 67,706 56,844 59,140 Subordinated liabilities 17,916 22,431 18,361 22,536 1 Fair values (other than Level 1 financial investments) were determined using valuation techniques with observable inputs (Level 2). |
Disclosure of fair value measurement of liabilities | Financial instruments carried at fair value and bases of valuation 2020 2019 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total $m $m $m $m $m $m $m $m Recurring fair value measurements at 31 Dec Assets Trading assets 167,980 61,511 2,499 231,990 186,653 62,639 4,979 254,271 Financial assets designated and otherwise mandatorily measured at fair value through profit or loss 19,711 14,365 11,477 45,553 18,626 15,525 9,476 43,627 Derivatives 2,602 302,454 2,670 307,726 1,728 239,131 2,136 242,995 Financial investments 303,654 94,746 3,654 402,054 261,341 93,018 3,218 357,577 Liabilities Trading liabilities 53,290 21,814 162 75,266 66,925 16,192 53 83,170 Financial liabilities designated at fair value 1,267 150,866 5,306 157,439 9,549 149,901 5,016 164,466 Derivatives 1,788 297,025 4,188 303,001 1,331 235,864 2,302 239,497 Transfers between Level 1 and Level 2 fair values Assets Liabilities Financial Trading Designated and otherwise Derivatives Trading Designated Derivatives $m $m $m $m $m $m $m At 31 Dec 2020 Transfers from Level 1 to Level 2 4,514 3,891 245 — 155 7,414 — Transfers from Level 2 to Level 1 7,764 5,517 328 1 433 — — 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 930 4 10,971 — 11,905 4 — — 4 Asset-backed securities 1,286 523 25 — 1,834 — — — — Loans held for securitisation — — — — — — — — — Structured notes — — — — — 29 5,301 — 5,330 Derivatives with monolines — — — 68 68 — — — — Other derivatives — — — 2,602 2,602 — — 4,187 4,187 Other portfolios 1,438 1,972 481 — 3,891 129 5 1 135 At 31 Dec 2020 3,654 2,499 11,477 2,670 20,300 162 5,306 4,188 9,656 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 17 (6) 504 2,281 307 (59) 3,398 – net income/(losses) from financial instruments held for trading or managed on a fair value basis — (6) — 2,281 307 — 3,398 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 504 — — (59) — – gains less losses from financial investments at fair value through other comprehensive income 17 — — — — — — – expected credit loss charges and other credit risk charges — — — — — — — Total gains recognised in other comprehensive income (‘OCI’) 1 394 115 286 143 17 204 169 – financial investments: fair value gains 270 — — — — — — – exchange differences 124 115 286 143 17 204 169 Purchases 671 687 3,701 — 66 — — New issuances — — 1 — 6 1,876 — Sales (674) (1,579) (2,042) — (260) — — Settlements (530) (1,122) (435) (1,542) (26) (1,531) (1,462) Transfers out (101) (1,790) (140) (565) (9) (777) (528) Transfers in 659 1,215 126 217 8 577 309 At 31 Dec 2020 3,654 2,499 11,477 2,670 162 5,306 4,188 Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at 31 Dec 2020 — (32) 412 707 1 (91) (1,621) – net income/(losses) from financial instruments held for trading or managed on a fair value basis — (32) — 707 1 — (1,621) – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 412 — — (91) — – loan impairment recoveries and other credit risk provisions — — — — — — — Movement in Level 3 financial instruments (continued) 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 2019 2,796 6,759 7,080 2,423 58 5,328 1,756 Total gains/(losses) recognised in profit or loss 6 (112) 587 278 (4) 195 930 – net income/(losses) from financial instruments held for trading or managed on a fair value basis — (112) — 278 (4) — 930 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 587 — — 195 — – gains less losses from financial investments at fair value through other comprehensive income 10 — — — — — — – expected credit loss charges and other credit risk charges (4) — — — — — — Total gains/(losses) recognised in other comprehensive income (‘OCI’) 1 309 76 (4) 49 1 18 52 – financial investments: fair value gains 301 — — — — — — – exchange differences 8 76 (4) 49 1 18 52 Purchases 693 2,206 2,506 — 8 157 — New issuances — 154 — — 6 1,601 — Sales (56) (895) (276) — (9) (193) — Settlements (329) (2,107) (434) (100) (7) (1,048) (162) Transfers out (488) (1,558) (23) (710) (9) (1,079) (473) Transfers in 287 456 40 196 9 37 199 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/(losses) 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. Basis of valuing HSBC Holdings’ financial assets and liabilities measured at fair value 2020 2019 $m $m Valuation technique using observable inputs: Level 2 Assets at 31 Dec – derivatives 4,698 2,002 – designated and otherwise mandatorily measured at fair value through profit or loss 65,253 61,964 Liabilities at 31 Dec – designated at fair value 25,664 30,303 – derivatives 3,060 2,021 Fair values of financial instruments not carried at fair value and bases of valuation Fair value Carrying Quoted market Observable Significant Total $m $m $m $m $m At 31 Dec 2020 Assets Loans and advances to banks 81,616 — 80,457 1,339 81,796 Loans and advances to customers 1,037,987 — 9,888 1,025,573 1,035,461 Reverse repurchase agreements – non-trading 230,628 — 230,330 272 230,602 Financial investments – at amortised cost 88,639 28,722 67,572 507 96,801 Liabilities Deposits by banks 82,080 — 81,996 — 81,996 Customer accounts 1,642,780 — 1,642,988 143 1,643,131 Repurchase agreements – non-trading 111,901 3 111,898 — 111,901 Debt securities in issue 95,492 — 96,371 657 97,028 Subordinated liabilities 21,951 — 28,552 — 28,552 At 31 Dec 2019 Assets Loans and advances to banks 69,203 — 68,508 739 69,247 Loans and advances to customers 1,036,743 — 10,365 1,027,178 1,037,543 Reverse repurchase agreements – non-trading 240,862 16 240,199 691 240,906 Financial investments – at amortised cost 85,735 26,202 62,572 287 89,061 Liabilities Deposits by banks 59,022 — 58,951 — 58,951 Customer accounts 1,439,115 — 1,439,362 150 1,439,512 Repurchase agreements – non-trading 140,344 — 140,344 — 140,344 Debt securities in issue 104,555 — 104,936 — 104,936 Subordinated liabilities 24,600 — 28,861 385 29,246 Fair values of HSBC Holdings’ financial instruments not carried at fair value on the balance sheet 2020 2019 Carrying amount Fair value 1 Carrying amount Fair value 1 $m $m $m $m Assets at 31 Dec Loans and advances to HSBC undertakings 10,443 10,702 10,218 10,504 Financial investments – at amortised cost 17,485 17,521 16,106 16,121 Liabilities at 31 Dec Amounts owed to HSBC undertakings 330 330 464 464 Debt securities in issue 64,029 67,706 56,844 59,140 Subordinated liabilities 17,916 22,431 18,361 22,536 1 Fair values (other than Level 1 financial investments) were determined using valuation techniques with observable inputs (Level 2). |
Disclosure of fair value adjustments on financial instruments | Global Banking and Markets fair value adjustments 2020 2019 GBM Corporate GBM Corporate $m $m $m $m Type of adjustment Risk-related 1,170 28 1,118 47 – bid-offer 514 — 506 1 – uncertainty 106 1 115 1 – credit valuation adjustment 445 27 355 38 – debt valuation adjustment (120) — (126) — – funding fair value adjustment 204 — 241 7 – other 21 — 27 — Model-related 74 — 71 3 – model limitation 70 — 68 3 – other 4 — 3 — Inception profit (Day 1 P&L reserves) 104 — 72 — At 31 Dec 1,348 28 1,261 50 |
Disclosure of the effect of changes in significant unobservable assumptions to reasonably possible alternatives | Sensitivity of fair values to reasonably possible alternative assumptions 2020 2019 Reflected in profit or loss Reflected in OCI Reflected in profit or loss Reflected in OCI Favourable Un- Favourable Un- Favourable Un- Favourable Un- Footnotes $m $m $m $m $m $m $m $m Derivatives, trading assets and trading liabilities 1 229 (244) — — 255 (230) — — Financial assets and liabilities designated and otherwise mandatorily measured at fair value through profit or loss 644 (643) — — 618 (503) — — Financial investments 35 (35) 110 (110) 48 (53) 81 (81) At 31 Dec 908 (922) 110 (110) 921 (786) 81 (81) |
Disclosure of significant unobservable inputs used in fair value measurement of assets | The following table lists key unobservable inputs to Level 3 financial instruments and provides the range of those inputs at 31 December 2020. Quantitative information about significant unobservable inputs in Level 3 valuations Fair value 2020 2019 Assets Liabilities Valuation Key unobservable Full range Full range $m $m Lower Higher Lower Higher Private equity including strategic investments 11,905 4 See below See below Asset-backed securities 1,834 — – collateralised loan/debt obligation 59 — Market proxy Prepayment rate 0% 9% 0% 9% Market proxy Bid quotes 0 100 0 100 – other ABSs 1,775 — Market proxy Bid quotes 0 101 0 101 Loans held for securitisation — — Structured notes — 5,330 – equity-linked notes — 4,069 Model – Option model Equity volatility 6% 115% 5% 90% Model – Option model Equity correlation (4)% 88% 9% 93% – FX-linked notes — 608 Model – Option model FX volatility 0% 36% 1% 23% – other — 653 Derivatives with monolines 68 — Model – Discounted cash flow Credit spread 2% 2% 0% 2% Other derivatives 2,602 4,187 – interest rate derivatives 1,300 1,414 securitisation swaps 285 707 Model – Discounted cash flow Prepayment rate 6% 6% 6% 7% long-dated swaptions 529 370 Model – Option model IR volatility 6% 28% 8% 22% other 486 337 – FX derivatives 468 466 FX options 152 194 Model – Option model FX volatility 0% 43% 1% 25% other 316 272 – equity derivatives 754 2,244 long-dated single stock options 583 1,091 Model – Option model Equity volatility 0% 120% 0% 89% other 171 1,153 – credit derivatives 80 63 other 80 63 Other portfolios 3,891 135 – structured certificates — — Model – Discounted cash flow Credit volatility — — 4% 4% – repurchase agreements 872 128 Model – Discounted cash flow IR curve 0% 5% 1% 8% – other 1 3,019 7 At 31 Dec 2020 20,300 9,656 1 ‘Other’ includes a range of smaller asset holdings. |
Disclosure of significant unobservable inputs used in fair value measurement of liabilities | The following table lists key unobservable inputs to Level 3 financial instruments and provides the range of those inputs at 31 December 2020. Quantitative information about significant unobservable inputs in Level 3 valuations Fair value 2020 2019 Assets Liabilities Valuation Key unobservable Full range Full range $m $m Lower Higher Lower Higher Private equity including strategic investments 11,905 4 See below See below Asset-backed securities 1,834 — – collateralised loan/debt obligation 59 — Market proxy Prepayment rate 0% 9% 0% 9% Market proxy Bid quotes 0 100 0 100 – other ABSs 1,775 — Market proxy Bid quotes 0 101 0 101 Loans held for securitisation — — Structured notes — 5,330 – equity-linked notes — 4,069 Model – Option model Equity volatility 6% 115% 5% 90% Model – Option model Equity correlation (4)% 88% 9% 93% – FX-linked notes — 608 Model – Option model FX volatility 0% 36% 1% 23% – other — 653 Derivatives with monolines 68 — Model – Discounted cash flow Credit spread 2% 2% 0% 2% Other derivatives 2,602 4,187 – interest rate derivatives 1,300 1,414 securitisation swaps 285 707 Model – Discounted cash flow Prepayment rate 6% 6% 6% 7% long-dated swaptions 529 370 Model – Option model IR volatility 6% 28% 8% 22% other 486 337 – FX derivatives 468 466 FX options 152 194 Model – Option model FX volatility 0% 43% 1% 25% other 316 272 – equity derivatives 754 2,244 long-dated single stock options 583 1,091 Model – Option model Equity volatility 0% 120% 0% 89% other 171 1,153 – credit derivatives 80 63 other 80 63 Other portfolios 3,891 135 – structured certificates — — Model – Discounted cash flow Credit volatility — — 4% 4% – repurchase agreements 872 128 Model – Discounted cash flow IR curve 0% 5% 1% 8% – other 1 3,019 7 At 31 Dec 2020 20,300 9,656 1 ‘Other’ includes a range of smaller asset holdings. |
Fair values of financial inst_4
Fair values of financial instruments not carried at fair value (Tables) | 12 Months Ended |
Dec. 31, 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 2020 2019 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total $m $m $m $m $m $m $m $m Recurring fair value measurements at 31 Dec Assets Trading assets 167,980 61,511 2,499 231,990 186,653 62,639 4,979 254,271 Financial assets designated and otherwise mandatorily measured at fair value through profit or loss 19,711 14,365 11,477 45,553 18,626 15,525 9,476 43,627 Derivatives 2,602 302,454 2,670 307,726 1,728 239,131 2,136 242,995 Financial investments 303,654 94,746 3,654 402,054 261,341 93,018 3,218 357,577 Liabilities Trading liabilities 53,290 21,814 162 75,266 66,925 16,192 53 83,170 Financial liabilities designated at fair value 1,267 150,866 5,306 157,439 9,549 149,901 5,016 164,466 Derivatives 1,788 297,025 4,188 303,001 1,331 235,864 2,302 239,497 Transfers between Level 1 and Level 2 fair values Assets Liabilities Financial Trading Designated and otherwise Derivatives Trading Designated Derivatives $m $m $m $m $m $m $m At 31 Dec 2020 Transfers from Level 1 to Level 2 4,514 3,891 245 — 155 7,414 — Transfers from Level 2 to Level 1 7,764 5,517 328 1 433 — — 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 930 4 10,971 — 11,905 4 — — 4 Asset-backed securities 1,286 523 25 — 1,834 — — — — Loans held for securitisation — — — — — — — — — Structured notes — — — — — 29 5,301 — 5,330 Derivatives with monolines — — — 68 68 — — — — Other derivatives — — — 2,602 2,602 — — 4,187 4,187 Other portfolios 1,438 1,972 481 — 3,891 129 5 1 135 At 31 Dec 2020 3,654 2,499 11,477 2,670 20,300 162 5,306 4,188 9,656 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 17 (6) 504 2,281 307 (59) 3,398 – net income/(losses) from financial instruments held for trading or managed on a fair value basis — (6) — 2,281 307 — 3,398 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 504 — — (59) — – gains less losses from financial investments at fair value through other comprehensive income 17 — — — — — — – expected credit loss charges and other credit risk charges — — — — — — — Total gains recognised in other comprehensive income (‘OCI’) 1 394 115 286 143 17 204 169 – financial investments: fair value gains 270 — — — — — — – exchange differences 124 115 286 143 17 204 169 Purchases 671 687 3,701 — 66 — — New issuances — — 1 — 6 1,876 — Sales (674) (1,579) (2,042) — (260) — — Settlements (530) (1,122) (435) (1,542) (26) (1,531) (1,462) Transfers out (101) (1,790) (140) (565) (9) (777) (528) Transfers in 659 1,215 126 217 8 577 309 At 31 Dec 2020 3,654 2,499 11,477 2,670 162 5,306 4,188 Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at 31 Dec 2020 — (32) 412 707 1 (91) (1,621) – net income/(losses) from financial instruments held for trading or managed on a fair value basis — (32) — 707 1 — (1,621) – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 412 — — (91) — – loan impairment recoveries and other credit risk provisions — — — — — — — Movement in Level 3 financial instruments (continued) 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 2019 2,796 6,759 7,080 2,423 58 5,328 1,756 Total gains/(losses) recognised in profit or loss 6 (112) 587 278 (4) 195 930 – net income/(losses) from financial instruments held for trading or managed on a fair value basis — (112) — 278 (4) — 930 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 587 — — 195 — – gains less losses from financial investments at fair value through other comprehensive income 10 — — — — — — – expected credit loss charges and other credit risk charges (4) — — — — — — Total gains/(losses) recognised in other comprehensive income (‘OCI’) 1 309 76 (4) 49 1 18 52 – financial investments: fair value gains 301 — — — — — — – exchange differences 8 76 (4) 49 1 18 52 Purchases 693 2,206 2,506 — 8 157 — New issuances — 154 — — 6 1,601 — Sales (56) (895) (276) — (9) (193) — Settlements (329) (2,107) (434) (100) (7) (1,048) (162) Transfers out (488) (1,558) (23) (710) (9) (1,079) (473) Transfers in 287 456 40 196 9 37 199 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/(losses) 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. Basis of valuing HSBC Holdings’ financial assets and liabilities measured at fair value 2020 2019 $m $m Valuation technique using observable inputs: Level 2 Assets at 31 Dec – derivatives 4,698 2,002 – designated and otherwise mandatorily measured at fair value through profit or loss 65,253 61,964 Liabilities at 31 Dec – designated at fair value 25,664 30,303 – derivatives 3,060 2,021 Fair values of financial instruments not carried at fair value and bases of valuation Fair value Carrying Quoted market Observable Significant Total $m $m $m $m $m At 31 Dec 2020 Assets Loans and advances to banks 81,616 — 80,457 1,339 81,796 Loans and advances to customers 1,037,987 — 9,888 1,025,573 1,035,461 Reverse repurchase agreements – non-trading 230,628 — 230,330 272 230,602 Financial investments – at amortised cost 88,639 28,722 67,572 507 96,801 Liabilities Deposits by banks 82,080 — 81,996 — 81,996 Customer accounts 1,642,780 — 1,642,988 143 1,643,131 Repurchase agreements – non-trading 111,901 3 111,898 — 111,901 Debt securities in issue 95,492 — 96,371 657 97,028 Subordinated liabilities 21,951 — 28,552 — 28,552 At 31 Dec 2019 Assets Loans and advances to banks 69,203 — 68,508 739 69,247 Loans and advances to customers 1,036,743 — 10,365 1,027,178 1,037,543 Reverse repurchase agreements – non-trading 240,862 16 240,199 691 240,906 Financial investments – at amortised cost 85,735 26,202 62,572 287 89,061 Liabilities Deposits by banks 59,022 — 58,951 — 58,951 Customer accounts 1,439,115 — 1,439,362 150 1,439,512 Repurchase agreements – non-trading 140,344 — 140,344 — 140,344 Debt securities in issue 104,555 — 104,936 — 104,936 Subordinated liabilities 24,600 — 28,861 385 29,246 Fair values of HSBC Holdings’ financial instruments not carried at fair value on the balance sheet 2020 2019 Carrying amount Fair value 1 Carrying amount Fair value 1 $m $m $m $m Assets at 31 Dec Loans and advances to HSBC undertakings 10,443 10,702 10,218 10,504 Financial investments – at amortised cost 17,485 17,521 16,106 16,121 Liabilities at 31 Dec Amounts owed to HSBC undertakings 330 330 464 464 Debt securities in issue 64,029 67,706 56,844 59,140 Subordinated liabilities 17,916 22,431 18,361 22,536 1 Fair values (other than Level 1 financial investments) were determined using valuation techniques with observable inputs (Level 2). |
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 2020 2019 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total $m $m $m $m $m $m $m $m Recurring fair value measurements at 31 Dec Assets Trading assets 167,980 61,511 2,499 231,990 186,653 62,639 4,979 254,271 Financial assets designated and otherwise mandatorily measured at fair value through profit or loss 19,711 14,365 11,477 45,553 18,626 15,525 9,476 43,627 Derivatives 2,602 302,454 2,670 307,726 1,728 239,131 2,136 242,995 Financial investments 303,654 94,746 3,654 402,054 261,341 93,018 3,218 357,577 Liabilities Trading liabilities 53,290 21,814 162 75,266 66,925 16,192 53 83,170 Financial liabilities designated at fair value 1,267 150,866 5,306 157,439 9,549 149,901 5,016 164,466 Derivatives 1,788 297,025 4,188 303,001 1,331 235,864 2,302 239,497 Transfers between Level 1 and Level 2 fair values Assets Liabilities Financial Trading Designated and otherwise Derivatives Trading Designated Derivatives $m $m $m $m $m $m $m At 31 Dec 2020 Transfers from Level 1 to Level 2 4,514 3,891 245 — 155 7,414 — Transfers from Level 2 to Level 1 7,764 5,517 328 1 433 — — 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 930 4 10,971 — 11,905 4 — — 4 Asset-backed securities 1,286 523 25 — 1,834 — — — — Loans held for securitisation — — — — — — — — — Structured notes — — — — — 29 5,301 — 5,330 Derivatives with monolines — — — 68 68 — — — — Other derivatives — — — 2,602 2,602 — — 4,187 4,187 Other portfolios 1,438 1,972 481 — 3,891 129 5 1 135 At 31 Dec 2020 3,654 2,499 11,477 2,670 20,300 162 5,306 4,188 9,656 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 17 (6) 504 2,281 307 (59) 3,398 – net income/(losses) from financial instruments held for trading or managed on a fair value basis — (6) — 2,281 307 — 3,398 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 504 — — (59) — – gains less losses from financial investments at fair value through other comprehensive income 17 — — — — — — – expected credit loss charges and other credit risk charges — — — — — — — Total gains recognised in other comprehensive income (‘OCI’) 1 394 115 286 143 17 204 169 – financial investments: fair value gains 270 — — — — — — – exchange differences 124 115 286 143 17 204 169 Purchases 671 687 3,701 — 66 — — New issuances — — 1 — 6 1,876 — Sales (674) (1,579) (2,042) — (260) — — Settlements (530) (1,122) (435) (1,542) (26) (1,531) (1,462) Transfers out (101) (1,790) (140) (565) (9) (777) (528) Transfers in 659 1,215 126 217 8 577 309 At 31 Dec 2020 3,654 2,499 11,477 2,670 162 5,306 4,188 Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at 31 Dec 2020 — (32) 412 707 1 (91) (1,621) – net income/(losses) from financial instruments held for trading or managed on a fair value basis — (32) — 707 1 — (1,621) – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 412 — — (91) — – loan impairment recoveries and other credit risk provisions — — — — — — — Movement in Level 3 financial instruments (continued) 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 2019 2,796 6,759 7,080 2,423 58 5,328 1,756 Total gains/(losses) recognised in profit or loss 6 (112) 587 278 (4) 195 930 – net income/(losses) from financial instruments held for trading or managed on a fair value basis — (112) — 278 (4) — 930 – changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss — — 587 — — 195 — – gains less losses from financial investments at fair value through other comprehensive income 10 — — — — — — – expected credit loss charges and other credit risk charges (4) — — — — — — Total gains/(losses) recognised in other comprehensive income (‘OCI’) 1 309 76 (4) 49 1 18 52 – financial investments: fair value gains 301 — — — — — — – exchange differences 8 76 (4) 49 1 18 52 Purchases 693 2,206 2,506 — 8 157 — New issuances — 154 — — 6 1,601 — Sales (56) (895) (276) — (9) (193) — Settlements (329) (2,107) (434) (100) (7) (1,048) (162) Transfers out (488) (1,558) (23) (710) (9) (1,079) (473) Transfers in 287 456 40 196 9 37 199 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/(losses) 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. Basis of valuing HSBC Holdings’ financial assets and liabilities measured at fair value 2020 2019 $m $m Valuation technique using observable inputs: Level 2 Assets at 31 Dec – derivatives 4,698 2,002 – designated and otherwise mandatorily measured at fair value through profit or loss 65,253 61,964 Liabilities at 31 Dec – designated at fair value 25,664 30,303 – derivatives 3,060 2,021 Fair values of financial instruments not carried at fair value and bases of valuation Fair value Carrying Quoted market Observable Significant Total $m $m $m $m $m At 31 Dec 2020 Assets Loans and advances to banks 81,616 — 80,457 1,339 81,796 Loans and advances to customers 1,037,987 — 9,888 1,025,573 1,035,461 Reverse repurchase agreements – non-trading 230,628 — 230,330 272 230,602 Financial investments – at amortised cost 88,639 28,722 67,572 507 96,801 Liabilities Deposits by banks 82,080 — 81,996 — 81,996 Customer accounts 1,642,780 — 1,642,988 143 1,643,131 Repurchase agreements – non-trading 111,901 3 111,898 — 111,901 Debt securities in issue 95,492 — 96,371 657 97,028 Subordinated liabilities 21,951 — 28,552 — 28,552 At 31 Dec 2019 Assets Loans and advances to banks 69,203 — 68,508 739 69,247 Loans and advances to customers 1,036,743 — 10,365 1,027,178 1,037,543 Reverse repurchase agreements – non-trading 240,862 16 240,199 691 240,906 Financial investments – at amortised cost 85,735 26,202 62,572 287 89,061 Liabilities Deposits by banks 59,022 — 58,951 — 58,951 Customer accounts 1,439,115 — 1,439,362 150 1,439,512 Repurchase agreements – non-trading 140,344 — 140,344 — 140,344 Debt securities in issue 104,555 — 104,936 — 104,936 Subordinated liabilities 24,600 — 28,861 385 29,246 Fair values of HSBC Holdings’ financial instruments not carried at fair value on the balance sheet 2020 2019 Carrying amount Fair value 1 Carrying amount Fair value 1 $m $m $m $m Assets at 31 Dec Loans and advances to HSBC undertakings 10,443 10,702 10,218 10,504 Financial investments – at amortised cost 17,485 17,521 16,106 16,121 Liabilities at 31 Dec Amounts owed to HSBC undertakings 330 330 464 464 Debt securities in issue 64,029 67,706 56,844 59,140 Subordinated liabilities 17,916 22,431 18,361 22,536 1 Fair values (other than Level 1 financial investments) were determined using valuation techniques with observable inputs (Level 2). |
Financial assets designated a_2
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Financial Instruments [Abstract] | |
Schedules of financial investments | 2020 2019 Footnotes $m $m Treasury and other eligible bills 24,035 21,789 Debt securities 102,846 126,043 Equity securities 77,643 78,827 Trading securities 204,524 226,659 Loans and advances to banks 1 8,242 8,402 Loans and advances to customers 1 19,224 19,210 Year ended 31 Dec 231,990 254,271 1 Loans and advances to banks and customers include reverse repos, stock borrowing and other accounts. Trading securities 1 2020 2019 Footnotes $m $m US Treasury and US Government agencies 2 17,393 25,722 UK Government 8,046 10,040 Hong Kong Government 6,500 9,783 Other governments 70,580 72,456 Asset-backed securities 3 4,253 4,691 Corporate debt and other securities 20,109 25,140 Equity securities 77,643 78,827 At 31 Dec 204,524 226,659 1 Included within these figures are debt securities issued by banks and other financial institutions of $10,876m (2019: $17,846m), of which $1,298m (2019: $2,637m) are guaranteed by various governments. 2 Includes securities that are supported by an explicit guarantee issued by the US Government. 3 Excludes asset-backed securities included under US Treasury and US Government agencies. 2020 2019 Designated at fair value Mandatorily measured at fair value Total Designated at fair value Mandatorily measured at fair value Total $m $m $m $m $m $m Securities 2,492 39,088 41,580 2,344 35,808 38,152 – treasury and other eligible bills 635 26 661 630 31 661 – debt securities 1,857 5,250 7,107 1,714 4,838 6,552 – equity securities — 33,812 33,812 — 30,939 30,939 Loans and advances to banks and customers — 2,988 2,988 1 4,555 4,556 Other — 985 985 — 919 919 At 31 Dec 2,492 43,061 45,553 2,345 41,282 43,627 Securities 1 2020 2019 Designated at fair value Mandatorily measured at fair value Total Designated at fair value Mandatorily measured at fair value Total Footnotes $m $m $m $m $m $m Hong Kong Government 22 — 22 4 — 4 Other governments 648 674 1,322 666 754 1,420 Asset-backed securities 2 — 235 235 — 363 363 Corporate debt and other securities 1,822 4,367 6,189 1,674 3,752 5,426 Equities — 33,812 33,812 — 30,939 30,939 At 31 Dec 2,492 39,088 41,580 2,344 35,808 38,152 1 Included within these figures are debt securities issued by banks and other financial institutions of $1,180m (2019 re-presented: $1,244m), of which nil (2019: nil) are guaranteed by various governments. 2 Excludes asset-backed securities included under US Treasury and US Government agencies. Carrying amount of financial investments 2020 2019 $m $m Financial investments measured at fair value through other comprehensive income 402,054 357,577 – treasury and other eligible bills 118,163 95,043 – debt securities 281,467 260,536 – equity securities 2,337 1,913 – other instruments 87 85 Debt instruments measured at amortised cost 88,639 85,735 – treasury and other eligible bills 11,757 10,476 – debt securities 76,882 75,259 At 31 Dec 490,693 443,312 Financial investments at amortised cost and fair value 2020 2019 Amortised cost Fair value 1 Amortised cost Fair value 1 Footnotes $m $m $m $m US Treasury 75,531 78,251 79,633 80,589 US Government agencies 2 19,851 20,320 26,356 26,387 US Government-sponsored entities 10,691 11,224 8,070 8,259 UK Government 28,094 28,754 28,621 28,973 Hong Kong Government 55,483 55,507 47,824 47,820 Other governments 178,091 180,881 140,510 142,511 Asset-backed securities 3 2,708 2,536 2,954 2,889 Corporate debt and other securities 110,015 118,960 101,750 107,364 Equities 1,410 2,337 1,241 1,913 At 31 Dec 481,874 498,770 436,959 446,705 1 Included within ‘fair value’ figures are debt securities issued by banks and other financial institutions of $62bn (2019: $61bn), of which $10bn (2019: $11bn) are guaranteed by various governments. 2 Includes securities that are supported by an explicit guarantee issued by the US Government. 3 Excludes asset-backed securities included under US Government agencies and sponsored entities. Maturities of investments in debt securities at their carrying amount Up to 1 year 1 to 5 years 5 to 10 years Over 10 years Total $m $m $m $m $m Debt securities measured at fair value through other comprehensive income 72,250 131,859 42,168 35,190 281,467 Debt securities measured at amortised cost 6,135 16,499 19,437 34,811 76,882 At 31 Dec 2020 78,385 148,358 61,605 70,001 358,349 Debt securities measured at fair value through other comprehensive income 61,833 123,740 42,831 32,132 260,536 Debt securities measured at amortised cost 5,472 14,395 21,431 33,961 75,259 At 31 Dec 2019 67,305 138,135 64,262 66,093 335,795 Contractual maturities and weighted average yields of investment debt securities Up to 1 year 1 to 5 years 5 to 10 years Over 10 years Amount Yield Amount Yield Amount Yield Amount Yield $m % $m % $m % $m % Debt securities measured at fair value through other comprehensive income US Treasury 6,596 1.2 22,945 1.6 15,618 1.5 4,195 2.3 US Government agencies — — 95 1.8 43 2.8 12,608 1.8 US Government-sponsored agencies 30 2.8 789 2.2 2,988 2.5 4,968 1.8 UK Government 2,765 1.5 5,126 0.8 6,220 0.2 4,910 2.3 Hong Kong Government 84 1.6 247 1.6 167 1.8 — — Other governments 51,507 1.7 62,587 2.3 8,184 1.6 2,089 4.3 Asset-backed securities 18 2.9 93 1.4 399 1.8 2,199 1.2 Corporate debt and other securities 10,831 2.1 35,615 1.4 7,169 1.8 2,583 3.4 Total amortised cost at 31 Dec 2020 71,831 127,497 40,788 33,552 Total carrying value 72,250 131,859 42,168 35,190 Debt securities measured at amortised cost US Treasury 3,769 0.1 4,618 1.6 3,003 2.0 969 2.8 US Government agencies — — 9 3.8 13 4.5 7,084 2.6 US Government-sponsored agencies 110 2.5 258 2.7 436 2.2 1,112 3.3 Hong Kong Government 13 3.0 23 1.6 118 2.6 12 4.8 Other governments 179 3.4 370 4.1 426 3.8 1,011 4.2 Asset-backed securities — — — — — — 2 6.0 Corporate debt and other securities 2,064 3.3 11,221 3.4 15,441 3.4 24,621 3.8 Total amortised cost at 31 Dec 2020 6,135 16,499 19,437 34,811 Total carrying value 6,135 16,497 19,439 34,812 HSBC Holdings carrying amount of financial investments 2020 2019 $m $m Debt instruments measured at amortised cost – treasury and other eligible bills 10,941 10,081 – debt securities 6,544 6,025 At 31 Dec 17,485 16,106 Financial investments at amortised cost and fair value 2020 2019 Amortised cost Fair value Amortised cost Fair value $m $m $m $m US Treasury 17,485 17,521 16,106 16,121 US Government agencies — — — — US Government-sponsored entities — — — — At 31 Dec 17,485 17,521 16,106 16,121 Maturities of investments in debt securities at their carrying amount Up to 1 year 1 to 5 years 5 to 10 years Over 10 years Total $m $m $m $m $m Debt securities measured at amortised cost 3,767 2,777 — — 6,544 At 31 Dec 2020 3,767 2,777 — — 6,544 Debt securities measured at amortised cost 3,010 3,015 — — 6,025 At 31 Dec 2019 3,010 3,015 — — 6,025 Contractual maturities and weighted average yields of investment debt securities Up to 1 year 1 to 5 years 5 to 10 years Over 10 years Amount Yield Amount Yield Amount Yield Amount Yield $m % $m % $m % $m % Debt securities measured at amortised cost US Treasury 3,767 1.5 2,777 0.3 — — — — US Government agencies — — — — — — — — US Government-sponsored agencies — — — — — — — — Total amortised cost at 31 Dec 2020 3,767 2,777 — — Total carrying value 3,767 2,777 — — |
Derivatives (Tables)
Derivatives (Tables) | 12 Months Ended |
Dec. 31, 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 – Assets Fair value – Liabilities Trading Hedging Trading Hedging Total Trading Hedging Total $m $m $m $m $m $m $m $m Foreign exchange 7,606,446 35,021 106,696 309 107,005 108,903 1,182 110,085 Interest rate 15,240,867 157,436 249,204 1,914 251,118 236,594 2,887 239,481 Equities 652,288 — 14,043 — 14,043 15,766 — 15,766 Credit 269,401 — 2,590 — 2,590 3,682 — 3,682 Commodity and other 120,259 — 2,073 — 2,073 3,090 — 3,090 Gross total fair values 23,889,261 192,457 374,606 2,223 376,829 368,035 4,069 372,104 Offset (Note 30) (69,103) (69,103) At 31 Dec 2020 23,889,261 192,457 374,606 2,223 307,726 368,035 4,069 303,001 Foreign exchange 8,207,629 31,899 84,083 455 84,538 84,498 740 85,238 Interest rate 17,895,349 177,006 183,668 1,208 184,876 175,095 2,031 177,126 Equities 1,077,347 — 9,053 — 9,053 11,237 — 11,237 Credit 345,644 — 4,744 — 4,744 5,597 — 5,597 Commodity and other 93,245 — 1,523 — 1,523 2,038 — 2,038 Gross total fair values 27,619,214 208,905 283,071 1,663 284,734 278,465 2,771 281,236 Offset (Note 30) (41,739) (41,739) At 31 Dec 2019 27,619,214 208,905 283,071 1,663 242,995 278,465 2,771 239,497 Notional contract amounts and fair values of derivatives by product contract type held by HSBC Holdings with subsidiaries Notional contract amount Assets Liabilities Trading Hedging Trading Hedging Total Trading Hedging Total $m $m $m $m $m $m $m $m Foreign exchange 23,413 — 506 — 506 870 — 870 Interest rate 47,569 34,006 966 3,221 4,187 2,176 8 2,184 At 31 Dec 2020 70,982 34,006 1,472 3,221 4,693 3,046 8 3,054 Foreign exchange 24,980 — 161 — 161 766 — 766 Interest rate 48,937 36,769 435 1,406 1,841 1,072 183 1,255 At 31 Dec 2019 73,917 36,769 596 1,406 2,002 1,838 183 2,021 HSBC hedging instrument by hedged risk Hedging instrument Carrying amount Notional amount 1 Assets Liabilities Balance sheet presentation Change in fair value 2 Hedged risk $m $m $m $m Interest rate 3 121,573 1,675 3,761 Derivatives (1,894) At 31 Dec 2020 121,573 1,675 3,761 (1,894) Interest rate 3 122,753 1,056 2,208 Derivatives (1,531) At 31 Dec 2019 122,753 1,056 2,208 (1,531) 1 The notional contract amounts of derivatives designated in qualifying hedge accounting relationships indicate the nominal value of transactions outstanding at the balance sheet date. They do not represent amounts at risk. 2 Used in effectiveness testing; comprising the full fair value change of the hedging instrument not excluding any component. 3 The hedged risk ‘interest rate’ includes inflation risk. HSBC Holdings hedging instrument by hedged risk Hedging instrument Carrying amount Notional amount 1,4 Assets Liabilities Balance sheet presentation Change in fair value 2 Hedged risk $m $m $m $m Interest rate 3 34,006 3,221 8 Derivatives 1,927 At 31 Dec 2020 34,006 3,221 8 1,927 Interest rate 3 36,769 1,406 183 Derivatives 1,704 At 31 Dec 2019 36,769 1,406 183 1,704 1 The notional contract amounts of derivatives designated in qualifying hedge accounting relationships indicate the nominal value of transactions outstanding at the balance sheet date; they do not represent amounts at risk. 2 Used in effectiveness testing; comprising the full fair value change of the hedging instrument not excluding any component. 3 The hedged risk ‘interest rate’ includes foreign exchange risk. 4 The notional amount of non-dynamic fair value hedges is equal to $34,006m, of which the weighted-average maturity date is February 2028 and the weighted-average swap rate is 1.71%. The majority of these hedges are internal to the Group. Hedging instrument by hedged risk Hedging instrument Hedged item Ineffectiveness Carrying amount Change in fair value 2 Change in fair value 3 Recognised in profit and loss Profit and loss presentation Notional amount 1 Assets Liabilities Balance sheet presentation Hedged risk $m $m $m $m $m $m Foreign currency 24,506 309 448 Derivatives (630) (630) — Net income from Interest rate 35,863 239 2 Derivatives 519 514 5 At 31 Dec 2020 60,369 548 450 (111) (116) 5 Foreign currency 21,385 455 254 Derivatives 341 341 — Net income from financial instruments held for trading or managed on a fair value basis Interest rate 54,253 152 46 Derivatives 195 193 2 At 31 Dec 2019 75,638 607 300 536 534 2 1 The notional contract amounts of derivatives designated in qualifying hedge accounting relationships indicate the nominal value of transactions outstanding at the balance sheet date. They do not represent amounts at risk. 2 Used in effectiveness testing; comprising the full fair value change of the hedging instrument not excluding any component. 3 Used in effectiveness assessment; comprising amount attributable to the designated hedged risk that can be a risk component. Hedging instrument impacted by Ibor reform Hedging instrument Impacted by Ibor reform Not impacted by Ibor reform Notional amount 1 € £ $ Other Total $m $m $m $m $m $m $m Fair value hedges 17,792 3,706 32,789 10,128 64,415 57,157 121,572 Cash flow hedges 8,344 2,522 8,705 6,797 26,368 9,495 35,863 At 31 Dec 2020 26,136 6,228 41,494 16,925 90,783 66,652 157,435 Fair value hedges 20,378 4,533 41,274 13,435 79,620 43,133 122,753 Cash flow hedges 5,724 6,594 15,750 15,979 44,047 10,206 54,253 At 31 Dec 2019 26,102 11,127 57,024 29,414 123,667 53,339 177,006 1 The notional contract amounts of interest rate derivatives designated in qualifying hedge accounting relationships indicate the nominal value of transactions outstanding at the balance sheet date; they do not represent amounts at risk. Hedging instrument impacted by Ibor reform held by HSBC Holdings Hedging instrument Impacted by Ibor reform Not impacted by Ibor reform Notional amount € £ $ Other Total $m $m $m $m $m $m $m Fair value hedges 4,290 5,393 21,081 3,242 34,006 — 34,006 At 31 Dec 2020 4,290 5,393 21,081 3,242 34,006 — 34,006 Fair value hedges 3,928 5,222 24,500 3,119 36,769 — 36,769 At 31 Dec 2019 3,928 5,222 24,500 3,119 36,769 — 36,769 |
Disclosure of detailed information about financial instruments | Summary of financial instruments to which the impairment requirements in IFRS 9 are applied (Audited) 31 Dec 2020 At 31 Dec 2019 Gross carrying/nominal amount Allowance for ECL 1 Gross carrying/nominal amount Allowance for ECL 1 Footnotes $m $m $m $m Loans and advances to customers at amortised cost 1,052,477 (14,490) 1,045,475 (8,732) – personal 460,809 (4,731) 434,271 (3,134) – corporate and commercial 527,088 (9,494) 540,499 (5,438) – non-bank financial institutions 64,580 (265) 70,705 (160) Loans and advances to banks at amortised cost 81,658 (42) 69,219 (16) Other financial assets measured at amortised cost 772,408 (175) 615,179 (118) – cash and balances at central banks 304,486 (5) 154,101 (2) – items in the course of collection from other banks 4,094 — 4,956 — – Hong Kong Government certificates of indebtedness 40,420 — 38,380 — – reverse repurchase agreements – non-trading 230,628 — 240,862 — – financial investments 88,719 (80) 85,788 (53) – prepayments, accrued income and other assets 2 104,061 (90) 91,092 (63) Total gross carrying amount on-balance sheet 1,906,543 (14,707) 1,729,873 (8,866) Loans and other credit-related commitments 659,783 (734) 600,029 (329) – personal 236,170 (40) 223,314 (15) – corporate and commercial 299,802 (650) 278,524 (307) – non-bank financial institutions 123,811 (44) 98,191 (7) Financial guarantees 18,384 (125) 20,214 (48) – personal 900 (1) 804 (1) – corporate and commercial 12,946 (114) 14,804 (44) – non-bank financial institutions 4,538 (10) 4,606 (3) Total nominal amount off-balance sheet 3 678,167 (859) 620,243 (377) 2,584,710 (15,566) 2,350,116 (9,243) Fair value Memorandum allowance for ECL 4 Fair value Memorandum allowance for ECL 4 $m $m $m $m Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) 399,717 (141) 355,664 (166) 1 The total ECL is recognised in the loss allowance for the financial asset unless the total ECL exceeds the gross carrying amount of the financial asset, in which case the ECL is recognised as a provision. 2 Includes only those financial instruments that are subject to the impairment requirements of IFRS 9. ‘Prepayments, accrued income and other assets’, as presented within the consolidated balance sheet on page 316, includes both financial and non-financial assets. 3 Represents the maximum amount at risk should the contracts be fully drawn upon and clients default. 4 Debt instruments measured at FVOCI continue to be measured at fair value with the allowance for ECL as a memorandum item. Change in ECL is recognised in ‘Change in expected credit losses and other credit impairment charges’ in the income statement. Maximum exposure to credit risk (Audited) 2020 2019 Maximum Offset Net Maximum Offset Net $m $m $m $m $m $m Loans and advances to customers held at amortised cost 1,037,987 (27,221) 1,010,766 1,036,743 (28,524) 1,008,219 – personal 456,078 (4,287) 451,791 431,137 (4,640) 426,497 – corporate and commercial 517,594 (21,102) 496,492 535,061 (21,745) 513,316 – non-bank financial institutions 64,315 (1,832) 62,483 70,545 (2,139) 68,406 Loans and advances to banks at amortised cost 81,616 — 81,616 69,203 — 69,203 Other financial assets held at amortised cost 774,116 (14,668) 759,448 616,648 (28,826) 587,822 – cash and balances at central banks 304,481 — 304,481 154,099 — 154,099 – items in the course of collection from other banks 4,094 — 4,094 4,956 — 4,956 – Hong Kong Government certificates of indebtedness 40,420 — 40,420 38,380 — 38,380 – reverse repurchase agreements – non-trading 230,628 (14,668) 215,960 240,862 (28,826) 212,036 – financial investments 88,639 — 88,639 85,735 — 85,735 – prepayments, accrued income and other assets 105,854 — 105,854 92,616 — 92,616 Derivatives 307,726 (293,240) 14,486 242,995 (232,908) 10,087 Total on-balance sheet exposure to credit risk 2,201,445 (335,129) 1,866,316 1,965,589 (290,258) 1,675,331 Total off-balance sheet 940,185 — 940,185 893,246 — 893,246 – financial and other guarantees 96,147 — 96,147 95,967 — 95,967 – loan and other credit-related commitments 844,038 — 844,038 797,279 — 797,279 At 31 Dec 3,141,630 (335,129) 2,806,501 2,858,835 (290,258) 2,568,577 Unamortised balance of derivatives valued using models with significant unobservable inputs 2020 2019 Footnotes $m $m Unamortised balance at 1 Jan 73 86 Deferral on new transactions 232 145 Recognised in the income statement during the year: (205) (154) – amortisation (116) (80) – subsequent to unobservable inputs becoming observable (4) (3) – maturity, termination or offsetting derivative (85) (71) Exchange differences 4 1 Other — (5) Unamortised balance at 31 Dec 1 104 73 |
Disclosure of detailed information about hedged items | HSBC hedged item by hedged risk Hedged item Ineffectiveness Carrying amount Accumulated fair value hedge adjustments included in carrying amount 2 Change in fair value 1 Recognised in profit and loss Assets Liabilities Assets Liabilities Balance sheet presentation Profit and loss presentation Hedged risk $m $m $m $m $m $m Interest rate 3 102,260 3,392 Financial assets designated and otherwise mandatorily measured at fair value through other comprehensive income 2,456 (11) Net income from financial instruments held for trading or managed on a fair value basis 6 3 Loans and advances to banks 1 2,280 56 Loans and advances to customers 21 12,148 1,620 Debt securities in issue (613) 89 3 Deposits by banks 18 At 31 Dec 2020 104,546 12,237 3,451 1,623 1,883 (11) HSBC hedged item by hedged risk (continued) Hedged item Ineffectiveness Carrying amount Accumulated fair value hedge adjustments included in carrying amount 2 Change in fair value 1 Recognised in profit and loss Assets Liabilities Assets Liabilities Balance sheet presentation Profit and loss presentation Hedged risk $m $m $m $m $m $m Interest rate 3 90,617 1,859 Financial assets designated and otherwise mandatorily measured at fair value through other comprehensive income 2,304 (7) Net income from financial instruments held for trading or managed on a fair value basis 153 4 Loans and advances to banks 5 1,897 12 Loans and advances to customers 24 15,206 797 Debt securities in issue (1,011) 3,009 39 Deposits by banks 202 At 31 Dec 2019 92,667 18,215 1,875 836 1,524 (7) 1 Used in effectiveness testing; comprising amount attributable to the designated hedged risk that can be a risk component. 2 The accumulated amount of fair value adjustments remaining in the statement of financial position for hedged items that have ceased to be adjusted for hedging gains and losses were assets of $855m for FVOCI and assets of $17m for debt issued. 3 The hedged risk ‘interest rate’ includes inflation risk. HSBC Holdings hedged item by hedged risk Hedged item Ineffectiveness Carrying amount Accumulated fair value hedge adjustments included in carrying amount 2 Change in fair value 1 Recognised in Assets Liabilities Assets Liabilities Balance sheet presentation Profit and loss Hedged risk $m $m $m $m $m $m Interest rate 3 37,338 3,027 Debt securities in issue (1,910) 17 Net income from financial instruments held for trading or managed on a fair value basis At 31 Dec 2020 — 37,338 — 3,027 (1,910) 17 Interest rate 3 38,126 1,088 Debt securities (1,697) 7 Net income from financial instruments held for trading or managed on a fair value basis At 31 Dec 2019 — 38,126 — 1,088 (1,697) 7 1 Used in effectiveness testing; comprising amount attributable to the designated hedged risk that can be a risk component. 2 The accumulated amount of fair value adjustments remaining in the statement of financial position for hedged items that have ceased to be adjusted for hedging gains and losses were liabilities of $62.8m for debt issued. 3 The hedged risk ‘interest rate’ includes foreign exchange risk. |
Disclosure of information about amounts that affected statement of comprehensive income as result of hedge accounting | Reconciliation of equity and analysis of other comprehensive income by risk type Interest rate Foreign currency $m $m Cash flow hedging reserve at 1 Jan 2020 204 (205) Fair value gains/(losses) 514 (630) Fair value (gains)/losses reclassified from the cash flow hedge reserve to the income statement in respect of: Hedged items that have affected profit or loss (107) 822 Income taxes (79) (23) Others (37) (1) Cash flow hedging reserve at 31 Dec 2020 495 (37) Cash flow hedging reserve at 1 Jan 2019 (26) (182) Fair value gains/(losses) 193 341 Fair value (gains)/losses reclassified from the cash flow hedge reserve to the income statement in respect of: Hedged items that has affected profit or loss 99 (371) Income taxes (53) 4 Others (9) 3 Cash flow hedging reserve at 31 Dec 2019 204 (205) |
Financial Investments (Tables)
Financial Investments (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Financial Instruments [Abstract] | |
Schedules of financial investments | 2020 2019 Footnotes $m $m Treasury and other eligible bills 24,035 21,789 Debt securities 102,846 126,043 Equity securities 77,643 78,827 Trading securities 204,524 226,659 Loans and advances to banks 1 8,242 8,402 Loans and advances to customers 1 19,224 19,210 Year ended 31 Dec 231,990 254,271 1 Loans and advances to banks and customers include reverse repos, stock borrowing and other accounts. Trading securities 1 2020 2019 Footnotes $m $m US Treasury and US Government agencies 2 17,393 25,722 UK Government 8,046 10,040 Hong Kong Government 6,500 9,783 Other governments 70,580 72,456 Asset-backed securities 3 4,253 4,691 Corporate debt and other securities 20,109 25,140 Equity securities 77,643 78,827 At 31 Dec 204,524 226,659 1 Included within these figures are debt securities issued by banks and other financial institutions of $10,876m (2019: $17,846m), of which $1,298m (2019: $2,637m) are guaranteed by various governments. 2 Includes securities that are supported by an explicit guarantee issued by the US Government. 3 Excludes asset-backed securities included under US Treasury and US Government agencies. 2020 2019 Designated at fair value Mandatorily measured at fair value Total Designated at fair value Mandatorily measured at fair value Total $m $m $m $m $m $m Securities 2,492 39,088 41,580 2,344 35,808 38,152 – treasury and other eligible bills 635 26 661 630 31 661 – debt securities 1,857 5,250 7,107 1,714 4,838 6,552 – equity securities — 33,812 33,812 — 30,939 30,939 Loans and advances to banks and customers — 2,988 2,988 1 4,555 4,556 Other — 985 985 — 919 919 At 31 Dec 2,492 43,061 45,553 2,345 41,282 43,627 Securities 1 2020 2019 Designated at fair value Mandatorily measured at fair value Total Designated at fair value Mandatorily measured at fair value Total Footnotes $m $m $m $m $m $m Hong Kong Government 22 — 22 4 — 4 Other governments 648 674 1,322 666 754 1,420 Asset-backed securities 2 — 235 235 — 363 363 Corporate debt and other securities 1,822 4,367 6,189 1,674 3,752 5,426 Equities — 33,812 33,812 — 30,939 30,939 At 31 Dec 2,492 39,088 41,580 2,344 35,808 38,152 1 Included within these figures are debt securities issued by banks and other financial institutions of $1,180m (2019 re-presented: $1,244m), of which nil (2019: nil) are guaranteed by various governments. 2 Excludes asset-backed securities included under US Treasury and US Government agencies. Carrying amount of financial investments 2020 2019 $m $m Financial investments measured at fair value through other comprehensive income 402,054 357,577 – treasury and other eligible bills 118,163 95,043 – debt securities 281,467 260,536 – equity securities 2,337 1,913 – other instruments 87 85 Debt instruments measured at amortised cost 88,639 85,735 – treasury and other eligible bills 11,757 10,476 – debt securities 76,882 75,259 At 31 Dec 490,693 443,312 Financial investments at amortised cost and fair value 2020 2019 Amortised cost Fair value 1 Amortised cost Fair value 1 Footnotes $m $m $m $m US Treasury 75,531 78,251 79,633 80,589 US Government agencies 2 19,851 20,320 26,356 26,387 US Government-sponsored entities 10,691 11,224 8,070 8,259 UK Government 28,094 28,754 28,621 28,973 Hong Kong Government 55,483 55,507 47,824 47,820 Other governments 178,091 180,881 140,510 142,511 Asset-backed securities 3 2,708 2,536 2,954 2,889 Corporate debt and other securities 110,015 118,960 101,750 107,364 Equities 1,410 2,337 1,241 1,913 At 31 Dec 481,874 498,770 436,959 446,705 1 Included within ‘fair value’ figures are debt securities issued by banks and other financial institutions of $62bn (2019: $61bn), of which $10bn (2019: $11bn) are guaranteed by various governments. 2 Includes securities that are supported by an explicit guarantee issued by the US Government. 3 Excludes asset-backed securities included under US Government agencies and sponsored entities. Maturities of investments in debt securities at their carrying amount Up to 1 year 1 to 5 years 5 to 10 years Over 10 years Total $m $m $m $m $m Debt securities measured at fair value through other comprehensive income 72,250 131,859 42,168 35,190 281,467 Debt securities measured at amortised cost 6,135 16,499 19,437 34,811 76,882 At 31 Dec 2020 78,385 148,358 61,605 70,001 358,349 Debt securities measured at fair value through other comprehensive income 61,833 123,740 42,831 32,132 260,536 Debt securities measured at amortised cost 5,472 14,395 21,431 33,961 75,259 At 31 Dec 2019 67,305 138,135 64,262 66,093 335,795 Contractual maturities and weighted average yields of investment debt securities Up to 1 year 1 to 5 years 5 to 10 years Over 10 years Amount Yield Amount Yield Amount Yield Amount Yield $m % $m % $m % $m % Debt securities measured at fair value through other comprehensive income US Treasury 6,596 1.2 22,945 1.6 15,618 1.5 4,195 2.3 US Government agencies — — 95 1.8 43 2.8 12,608 1.8 US Government-sponsored agencies 30 2.8 789 2.2 2,988 2.5 4,968 1.8 UK Government 2,765 1.5 5,126 0.8 6,220 0.2 4,910 2.3 Hong Kong Government 84 1.6 247 1.6 167 1.8 — — Other governments 51,507 1.7 62,587 2.3 8,184 1.6 2,089 4.3 Asset-backed securities 18 2.9 93 1.4 399 1.8 2,199 1.2 Corporate debt and other securities 10,831 2.1 35,615 1.4 7,169 1.8 2,583 3.4 Total amortised cost at 31 Dec 2020 71,831 127,497 40,788 33,552 Total carrying value 72,250 131,859 42,168 35,190 Debt securities measured at amortised cost US Treasury 3,769 0.1 4,618 1.6 3,003 2.0 969 2.8 US Government agencies — — 9 3.8 13 4.5 7,084 2.6 US Government-sponsored agencies 110 2.5 258 2.7 436 2.2 1,112 3.3 Hong Kong Government 13 3.0 23 1.6 118 2.6 12 4.8 Other governments 179 3.4 370 4.1 426 3.8 1,011 4.2 Asset-backed securities — — — — — — 2 6.0 Corporate debt and other securities 2,064 3.3 11,221 3.4 15,441 3.4 24,621 3.8 Total amortised cost at 31 Dec 2020 6,135 16,499 19,437 34,811 Total carrying value 6,135 16,497 19,439 34,812 HSBC Holdings carrying amount of financial investments 2020 2019 $m $m Debt instruments measured at amortised cost – treasury and other eligible bills 10,941 10,081 – debt securities 6,544 6,025 At 31 Dec 17,485 16,106 Financial investments at amortised cost and fair value 2020 2019 Amortised cost Fair value Amortised cost Fair value $m $m $m $m US Treasury 17,485 17,521 16,106 16,121 US Government agencies — — — — US Government-sponsored entities — — — — At 31 Dec 17,485 17,521 16,106 16,121 Maturities of investments in debt securities at their carrying amount Up to 1 year 1 to 5 years 5 to 10 years Over 10 years Total $m $m $m $m $m Debt securities measured at amortised cost 3,767 2,777 — — 6,544 At 31 Dec 2020 3,767 2,777 — — 6,544 Debt securities measured at amortised cost 3,010 3,015 — — 6,025 At 31 Dec 2019 3,010 3,015 — — 6,025 Contractual maturities and weighted average yields of investment debt securities Up to 1 year 1 to 5 years 5 to 10 years Over 10 years Amount Yield Amount Yield Amount Yield Amount Yield $m % $m % $m % $m % Debt securities measured at amortised cost US Treasury 3,767 1.5 2,777 0.3 — — — — US Government agencies — — — — — — — — US Government-sponsored agencies — — — — — — — — Total amortised cost at 31 Dec 2020 3,767 2,777 — — Total carrying value 3,767 2,777 — — |
Equity instruments measured at fair value through other comprehensive income | Equity instruments measured at fair value through other comprehensive income Fair value Dividends recognised Type of equity instruments $m $m Investments required by central institutions 904 22 Business facilitation 1,387 22 Others 46 3 At 31 Dec 2020 2,337 47 Investments required by central institutions 738 22 Business facilitation 1,124 19 Others 51 9 At 31 Dec 2019 1,913 50 |
Assets pledged, collateral re_2
Assets pledged, collateral received and assets transferred (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Financial Instruments [Abstract] | |
Disclosure of assets pledged | Financial assets pledged as collateral 2020 2019 $m $m Treasury bills and other eligible securities 12,774 14,034 Loans and advances to banks 236 1,975 Loans and advances to customers 43,168 26,017 Debt securities 67,312 60,995 Equity securities 26,101 24,626 Other 60,810 50,231 Assets pledged at 31 Dec 210,401 177,878 |
Disclosure of financial assets pledged as collateral which the counterparty has the right to sell or repledge | Financial assets pledged as collateral which the counterparty has the right to sell or repledge 2020 2019 $m $m Trading assets 64,225 63,163 Financial investments 16,915 10,782 At 31 Dec 81,140 73,945 |
Disclosure of transferred financial assets not qualifying for full derecognition and associated financial liabilities | Transferred financial assets not qualifying for full derecognition and associated financial liabilities Carrying amount of: Fair value of: Transferred Associated Transferred Associated Net $m $m $m $m $m At 31 Dec 2020 Repurchase agreements 52,413 51,092 Securities lending agreements 38,364 124 Other sales (recourse to transferred assets only) 3,564 3,478 3,619 3,564 55 At 31 Dec 2019 Repurchase agreements 45,831 45,671 Securities lending agreements 35,122 3,225 Other sales (recourse to transferred assets only) 2,971 2,885 2,974 2,897 77 |
Interest in associates and jo_2
Interest in associates and joint ventures (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Interests In Other Entities [Abstract] | |
Disclosure of carrying amount of interests in associates and joint ventures | Carrying amount of HSBC’s interests in associates and joint ventures 2020 2019 $m $m Interests in associates 26,594 24,384 Interests in joint ventures 90 90 Interests in associates and joint ventures 26,684 24,474 |
Disclosure of interests in associates | Principal associates of HSBC 2020 2019 Carrying amount Fair value 1 Carrying amount Fair value 1 $m $m $m $m Bank of Communications Co., Limited 21,248 7,457 18,982 10,054 The Saudi British Bank 4,215 4,197 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). At 31 Dec 2020 Footnotes Country of incorporation Principal HSBC’s Bank of Communications Co., Limited People’s Republic of China Banking services 19.03 The Saudi British Bank 1 Saudi Arabia Banking services 31.00 1 In December 2020, HSBC purchased additional shares and increased its shareholding in The Saudi British Bank (‘SABB’) from 29.2% to 31.0%. SABB will continue to be accounted for as an associate of HSBC. At 31 Dec 2020 At 31 Dec 2019 VIU Carrying value Fair value VIU Carrying value Fair value $bn $bn $bn $bn $bn $bn BoCom 21.8 21.2 7.5 21.5 19.0 10.1 Selected balance sheet information of BoCom At 30 Sep 2020 2019 $m $m Cash and balances at central banks 121,987 112,239 Loans and advances to banks and other financial institutions 107,334 108,026 Loans and advances to customers 870,728 730,510 Other financial assets 508,328 435,740 Other assets 44,622 40,101 Total assets 1,652,999 1,426,616 Deposits by banks and other financial institutions 273,708 290,492 Customer accounts 1,012,732 868,627 Other financial liabilities 207,110 131,772 Other liabilities 31,105 23,074 Total liabilities 1,524,655 1,313,965 Total equity 128,344 112,651 Selected income statement information of BoCom For the 12 months ended 30 Sep 2020 2019 $m $m Net interest income 21,994 20,558 Net fee and commission income 6,398 6,411 Change in expected credit losses and other credit impairment charges (9,698) (7,479) Depreciation and amortisation (2,072) (1,934) Tax expense (858) (1,636) Profit for the year 10,261 11,175 Other comprehensive income (769) 315 Total comprehensive income 9,492 11,490 Dividends received from BoCom 633 613 Associates The undertakings below are associates and equity accounted. Associates % of share class held by immediate parent company (or by the Group where this varies) Footnotes Bank of Communications Co., Ltd. 19.03 161 Barrowgate Limited 15.31 162 BGF Group PLC 24.56 163 Bud Financial Limited 10.82 1, 164 Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited 26.00 165 CFAC Payment Scheme Limited 33.33 166 Chemi & Cotex (Rwanda) Limited 33.99 1, 167 Chemi & Cotex Kenya Limited 33.99 1, 168 Chemi and Cotex Industries Limited 33.99 169 Contour 10.80 191 Episode Six Limited 9.10 187 EPS Company (Hong Kong) Limited 38.66 44 EURO Secured Notes Issuer 16.66 170 GIE GNIFI N/A 0, 1, 171 GZHS Research Co Ltd 20.50 172 Hang Seng Qianhai Fund Management Company Limited 43.49 1, 10, 173 HCM Holdings Limited (In Liquidation) 50.99 17 HSBC Canadian Covered Bond (Legislative) GP Inc. 100.00 73 HSBC Jintrust Fund Management Company Limited 49.00 174 HSBC Saudi Arabia, a Saudi closed Joint Stock Company 66.18 175 Icon Brickell LLC (In Liquidation) N/A 0, 176 Jeppe Star Limited 33.99 177 Liquidity Match LLC N/A 0, 188 London Precious Metals Clearing Limited 30.00 189 MENA Infrastructure Fund (GP) Ltd 33.33 178 Novo Star Limited 33.99 179 Quantexa Ltd 10.99 146 Services Epargne Entreprise 14.18 180 Simon Group LLC N/A 0, 190 sino AG 24.77 181 The London Gold Market Fixing Limited 25.00 159 The Saudi British Bank 30.99 182 Trade Information Network 16.67 192 Trinkaus Europa Immobilien-Fonds Nr. 7 Frankfurt Mertonviertel KG N/A 0, 38 Vizolution Limited 17.95 1, 183 We Trade Innovation Designated Activity Company 8.52 1, 184 |
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 22 basis points • Long-term asset growth rate • Increase by 20 basis points • Discount rate • Increase by 26 basis points • Expected credit losses as a percentage of customer advances • Increase by 3 basis points • Risk-weighted assets as a percentage of total assets • Increase by 136 basis points • Operating income growth rate • Decrease by 28 basis points • Cost-income ratio • Increase by 77 basis points • Long-term effective tax rate • Increase by 216 basis points • Capital requirements – capital adequacy ratio • Increase by 26 basis points • Capital requirements – tier 1 capital adequacy ratio • Increase by 90 basis points Sensitivity of VIU to reasonably possible changes in key assumptions Favourable change Unfavourable change Increase in VIU VIU Decrease in VIU VIU bps $bn $bn bps $bn $bn At 31 Dec 2020 Long-term profit growth rate — — 21.8 (50) (1.3) 20.5 Long-term asset growth rate (50) 1.4 23.2 — — 21.8 Discount rate — 1.2 23.0 53 (1.2) 20.6 Expected credit losses as a percentage of customer advances 2020 to 2024: 96 2025 onwards: 76 2.3 24.1 2020 to 2024: 122 2025 onwards: 95 (2.1) 19.7 Risk-weighted assets as a percentage of total assets (40) 0.1 21.9 166 (0.8) 21.0 Operating income growth rate 2 0.2 22.0 (69) (1.5) 20.3 Cost-income ratio (149) 1.3 23.1 120 (1.2) 20.6 Long-term effective tax rate (316) 0.9 22.7 820 (2.2) 19.6 Capital requirements – capital adequacy ratio — — 21.8 297 (7.8) 14.0 Capital requirements – tier 1 capital adequacy ratio — — 21.8 263 (5.3) 16.5 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 2024 onwards: 70 1.0 22.5 2019 to 2023: 108 2024 onwards: 81 (1.2) 20.3 Risk-weighted assets as a percentage of total assets (96) 0.4 21.9 12 — 21.5 Operating income growth rate 14 — 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 Key assumption Reasonably possible change • Cash flow projections • Cash flow projections decrease by 15%. This could result in an impairment of $0.2bn. • Discount rate • Discount rate increases by 100 basis points. This does not result in impairment. |
Summarised aggregate financial information of associates | Reconciliation of BoCom’s total shareholders’ equity to the carrying amount in HSBC’s consolidated financial statements At 30 Sep 2020 2019 $m $m HSBC’s share of total shareholders’ equity 20,743 18,509 Goodwill and other intangible assets 505 473 Carrying amount 21,248 18,982 |
Investments in subsidiaries (Ta
Investments in subsidiaries (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Interests In Other Entities [Abstract] | |
Investments in subsidiaries | Main subsidiaries of HSBC Holdings At 31 Dec 2020 Place of incorporation or registration HSBC’s interest % Share class Europe HSBC Bank plc England and Wales 100 £1 Ordinary, $0.01 Non-cumulative third Dollar Preference HSBC UK Bank plc England and Wales 100 £1 Ordinary HSBC Continental Europe France 99.99 €5 Actions HSBC Trinkaus & Burkhardt AG 1 Germany 99.33 Stückaktien no par value Asia Hang Seng Bank Limited Hong Kong 62.14 HK$5 Ordinary HSBC Bank (China) Company Limited People’s Republic of China 100 CNY1 Ordinary HSBC Bank Malaysia Berhad Malaysia 100 RM0.5 Ordinary HSBC Life (International) Limited Bermuda 100 HK$1 Ordinary The Hongkong and Shanghai Banking Corporation Limited Hong Kong 100 Ordinary no par value Middle East and North Africa HSBC Bank Middle East Limited United Arab Emirates 100 $1 Ordinary and $1 Cumulative Redeemable Preference shares (CRP) North America HSBC Bank Canada Canada 100 Common no par value and Preference no par value HSBC Bank USA, N.A. US 100 $100 Common and $0.01 Preference Latin America HSBC Mexico, S.A., Institución de Banca Múltiple, Mexico 99.99 MXN2 Ordinary Subsidiaries with significant non-controlling interests 2020 2019 Hang Seng Bank Limited Proportion of ownership interests and voting rights held by non-controlling interests 37.86 % 37.86% Place of business Hong Kong Hong Kong $m $m Profit attributable to non-controlling interests 843 1,229 Accumulated non-controlling interests of the subsidiary 7,604 7,262 Dividends paid to non-controlling interests 625 720 Summarised financial information: – total assets 224,483 212,485 – total liabilities 202,907 191,819 – net operating income before changes in expected credit losses and other credit impairment charges 4,568 5,558 – profit for the year 2,230 3,251 – total comprehensive income for the year 2,535 3,461 Subsidiaries % of share class held by immediate parent company (or by the Group where this varies) Footnotes 452 TALF Plus ABS Opportunities SPV LLC 100.00 13 452 TALF SPV LLC 100.00 13 Almacenadora Banpacifico S.A. (In Liquidation) 99.99 14 Assetfinance December (F) Limited 100.00 15 Assetfinance December (H) Limited 100.00 16 Assetfinance December (M) Limited (In Liquidation) 100.00 17 Assetfinance December (P) Limited 100.00 16 Assetfinance December (R) Limited 100.00 16 Assetfinance June (A) Limited 100.00 16 Assetfinance June (D) Limited 100.00 15 Assetfinance Limited 100.00 16 Assetfinance March (B) Limited 100.00 18 Assetfinance March (D) Limited 100.00 15 Assetfinance March (F) Limited 100.00 16 Assetfinance September (F) Limited 100.00 16 Assetfinance September (G) Limited 100.00 15 B&Q Financial Services Limited 100.00 16 Banco HSBC S.A. 100.00 19 Banco Nominees (Guernsey) Limited 100.00 20 Banco Nominees 2 (Guernsey) Limited 100.00 20 Banco Nominees Limited 100.00 21 Beau Soleil Limited Partnership N/A 0, 22 Beijing Miyun HSBC Rural Bank Company Limited 100.00 10, 23 Billingsgate Nominees Limited (In Liquidation) 100.00 24 Canada Crescent Nominees (UK) Limited 100.00 16 Canada Square Nominees (UK) Limited 100.00 16 Capco/Cove, Inc. 100.00 25 Card-Flo #1, Inc. 100.00 13 Card-Flo #3, Inc. 100.00 13 CC&H Holdings LLC 100.00 26 CCF HOLDING (LIBAN) S.A.L. (In Liquidation) 74.99 27 Charterhouse Administrators ( D.T.) Limited 100.00 (99.99) 16 Charterhouse Management Services Limited 100.00 (99.99) 16 Charterhouse Pensions Limited 100.00 16 Chongqing Dazu HSBC Rural Bank Company Limited 100.00 10, 28 Chongqing Fengdu HSBC Rural Bank Company Limited 100.00 10, 29 Chongqing Rongchang HSBC Rural Bank Company Limited 100.00 10, 30 COIF Nominees Limited N/A 0, 16 Cordico Management AG (In Liquidation) 100.00 31 Corsair IV Financial Services Capital Partners-B, LP N/A 0, 185 Dalian Pulandian HSBC Rural Bank Company Limited 100.00 10, 32 Decision One Mortgage Company, LLC N/A 0, 33 Dem 9 100.00 (99.99) 4, 34 Dempar 1 100.00 (99.99) 4, 34 Desarrollo Turistico, S.A. de C.V. (In Liquidation) 100.00 (99.99) 14 Electronic Data Process México, S.A. de C.V. 100.00 14 Equator Holdings Limited (In Liquidation) 100.00 17 Eton Corporate Services Limited 100.00 20 Far East Leasing SA (In Dissolution) 100.00 35 Flandres Contentieux S.A. 100.00 (99.99) 34 Foncière Elysées 100.00 (99.99) 34 Fujian Yongan HSBC Rural Bank Company Limited 100.00 10, 36 Fulcher Enterprises Company Limited 100.00 (62.14) 37 Fundacion HSBC, A.C. 100.00 (99.99) 9, 14 Giller Ltd. 100.00 25 GPIF Co-Investment, LLC N/A 0, 13 Subsidiaries % of share class held by immediate parent company (or by the Group where this varies) Footnotes Griffin International Limited 100.00 16 Grundstuecksgesellschaft Trinkausstrasse Kommanditgesellschaft N/A 0, 38 Grupo Financiero HSBC, S. A. de C. V. 99.99 14 Guangdong Enping HSBC Rural Bank Company Limited 100.00 10, 39 Guangzhou HSBC Real Estate Company Ltd 100.00 40 Hang Seng (Nominee) Limited 100.00 (62.14) 37 Hang Seng Bank (China) Limited 100.00 (62.14) 41 Hang Seng Bank (Trustee) Limited 100.00 (62.14) 37 Hang Seng Bank Limited 62.14 37 Hang Seng Bullion Company Limited 100.00 (62.14) 37 Hang Seng Credit Limited 100.00 (62.14) 37 Hang Seng Data Services Limited 100.00 (62.14) 37 Hang Seng Finance Limited 100.00 (62.14) 37 Hang Seng Financial Information Limited 100.00 (62.14) 37 Hang Seng Indexes (Netherlands) B.V. 100.00 (62.14) 42 Hang Seng Indexes Company Limited 100.00 (62.14) 37 Hang Seng Insurance Company Limited 100.00 (62.14) 37 Hang Seng Investment Management Limited 100.00 (62.14) 37 Hang Seng Investment Services Limited 100.00 (62.14) 37 Hang Seng Life Limited 100.00 (62.14) 37 Hang Seng Real Estate Management Limited 100.00 (62.14) 37 Hang Seng Securities Limited 100.00 (62.14) 37 Hang Seng Security Management Limited 100.00 (62.14) 37 Haseba Investment Company Limited 100.00 (62.14) 37 HFC Bank Limited (In Liquidation) 100.00 17 High Time Investments Limited 100.00 (62.14) 37 Honey Green Enterprises Ltd. 100.00 43 Honey Grey Enterprises Limited 100.00 44 Honey Silver Enterprises Limited 100.00 44 Household International Europe Limited (In Liquidation) 100.00 17 Household Pooling Corporation 100.00 45 Housing (USA) LLP N/A HSBC (BGF) Investments Limited 100.00 16 HSBC (General Partner) Limited 100.00 2, 47 HSBC (Guernsey) GP PCC Limited 100.00 20 HSBC (Kuala Lumpur) Nominees Sdn Bhd 100.00 48 HSBC (Malaysia) Trustee Berhad 100.00 49 HSBC (Singapore) Nominees Pte Ltd 100.00 50 HSBC Agency (India) Private Limited 100.00 51 HSBC Alternative Credit Strategies General Partner S.a r.l. N/A 0, 52 HSBC Alternative Investments Limited 100.00 16 HSBC Amanah Malaysia Berhad 100.00 48 HSBC Americas Corporation (Delaware) 100.00 13 HSBC Argentina Holdings S.A. 100.00 53 HSBC Asia Holdings B.V. 100.00 16 HSBC Asia Holdings Limited 100.00 2, 44 HSBC Asia Pacific Holdings (UK) Limited 100.00 16 HSBC Asset Finance (UK) Limited 100.00 16 HSBC Asset Finance M.O.G. Holdings (UK) Limited 100.00 16 HSBC Asset Management (India) Private Limited 100.00 54 HSBC Assurances Vie (France) 100.00 (99.99) 55 HSBC Australia Holdings Pty Limited 100.00 56 HSBC BANK (CHILE) 100.00 57 HSBC Bank (China) Company Limited 100.00 10, 58 HSBC Bank (General Partner) Limited 100.00 47 HSBC Bank (Mauritius) Limited 100.00 59 HSBC Bank (RR) (Limited Liability Company) N/A 0, 11, 60 HSBC Bank (Singapore) Limited 100.00 50 HSBC Bank (Taiwan) Limited 100.00 61 HSBC Bank (Uruguay) S.A. 100.00 62 HSBC Bank (Vietnam) Ltd. 100.00 63 HSBC Bank A.S. 100.00 64 Subsidiaries % of share class held by immediate parent company (or by the Group where this varies) Footnotes HSBC Bank Argentina S.A. 100.00 53 HSBC Bank Armenia cjsc 100.00 65 HSBC Bank Australia Limited 100.00 56 HSBC Bank Bermuda Limited 100.00 21 HSBC Bank Canada 100.00 66 HSBC Bank Capital Funding (Sterling 1) LP N/A 0, 47 HSBC Bank Capital Funding (Sterling 2) LP N/A 0, 47 HSBC Bank Egypt S.A.E 99.63 (94.54) 67 HSBC Bank Malaysia Berhad 100.00 48 HSBC Bank Malta p.l.c. 70.03 68 HSBC Bank Middle East Limited 100.00 5, 69 HSBC Bank Middle East Limited Representative Office Morocco SARL (In Liquidation) 100.00 70 HSBC Bank Oman S.A.O.G. 51.00 71 HSBC Bank Pension Trust (UK) Limited 100.00 16 HSBC Bank plc 100.00 16 HSBC Bank USA, National Association 100.00 3, 72 HSBC Branch Nominee (UK) Limited 100.00 15 HSBC Brasil Holding S.A. 100.00 19 HSBC Broking Forex (Asia) Limited 100.00 44 HSBC Broking Futures (Asia) Limited 100.00 44 HSBC Broking Futures (Hong Kong) Limited 100.00 44 HSBC Broking Securities (Asia) Limited 100.00 44 HSBC Broking Securities (Hong Kong) Limited 100.00 44 HSBC Broking Services (Asia) Limited 100.00 44 HSBC Canadian Covered Bond (Legislative) Guarantor Limited Partnership N/A 0, 73 HSBC Capital (USA), Inc. 100.00 13 HSBC Capital Funding (Dollar 1) L.P. N/A 0, 47 HSBC Capital Limited 100.00 44 HSBC Card Services Inc. 100.00 13 HSBC Casa de Bolsa, S.A. de C.V., Grupo Financiero HSBC 100.00 (99.99) 14 HSBC Cayman Limited 100.00 74 HSBC Cayman Services Limited 100.00 74 HSBC City Funding Holdings 100.00 16 HSBC Client Holdings Nominee (UK) Limited 100.00 16 HSBC Client Nominee (Jersey) Limited 100.00 75 HSBC Columbia Funding, LLC N/A 0, 13 HSBC Continental Europe 99.99 34 HSBC Corporate Advisory (Malaysia) Sdn Bhd 100.00 48 HSBC Corporate Finance (Hong Kong) Limited 100.00 44 HSBC Corporate Trustee Company (UK) Limited 100.00 16 HSBC Custody Nominees (Australia) Limited 100.00 56 HSBC Custody Services (Guernsey) Limited 100.00 20 HSBC Daisy Investments (Mauritius) Limited 100.00 76 HSBC Diversified Loan Fund General Partner Sarl 100.00 77 HSBC Electronic Data Processing (Guangdong) Limited 100.00 10, 78 HSBC Electronic Data Processing (Malaysia) Sdn Bhd 100.00 79 HSBC Electronic Data Processing (Philippines), Inc. 99.99 80 HSBC Electronic Data Processing India Private Limited 100.00 81 HSBC Electronic Data Processing Lanka (Private) Limited 100.00 82 HSBC Electronic Data Service Delivery (Egypt) S.A.E. 100.00 83 HSBC Enterprise Investment Company (UK) Limited (In Liquidation) 100.00 17 HSBC Epargne Entreprise (France) 100.00 (99.99) 55 HSBC Equator (UK) Limited (In Liquidation) 100.00 17 HSBC Equipment Finance (UK) Limited 100.00 15 HSBC Equity (UK) Limited 100.00 16 HSBC Europe B.V. 100.00 16 Subsidiaries % of share class held by immediate parent company (or by the Group where this varies) Footnotes HSBC Executor & Trustee Company (UK) Limited 100.00 15 HSBC Factoring (France) 100.00 (99.99) 34 HSBC Finance (Netherlands) 100.00 2, 16 HSBC Finance Corporation 100.00 13 HSBC Finance Limited 100.00 16 HSBC Finance Mortgages Inc. 100.00 84 HSBC Finance Transformation (UK) Limited 100.00 16 HSBC Financial Services (Lebanon) s.a.l. 99.65 85 HSBC Financial Services (Middle East) Limited (In Liquidation) 100.00 86 HSBC Financial Services (Uruguay) S.A. (In Liquidation) 100.00 87 HSBC FinTech Services (Shanghai) Company Limited 100.00 88 HSBC Germany Holdings GmbH 100.00 38 HSBC Global Asset Management (Bermuda) Limited 100.00 3, 21 HSBC Global Asset Management (Canada) Limited 100.00 66 HSBC Global Asset Management (Deutschland) GmbH 100.00 (99.33) 38 HSBC Global Asset Management (France) 100.00 (99.99) 55 HSBC Global Asset Management (Hong Kong) Limited 100.00 22 HSBC Global Asset Management (International) Limited (In Liquidation) 100.00 89 HSBC Global Asset Management (Japan) K. K. 100.00 90 HSBC Global Asset Management (Malta) Limited 100.00 (70.03) 91 HSBC Global Asset Management (México), S.A. de C.V., Sociedad Operadora de Fondos de Inversión, Grupo Financiero HSBC 100.00 (99.99) 14 HSBC Global Asset Management (Oesterreich) GmbH 100.00 (99.33) 6, 92 HSBC Global Asset Management (Singapore) Limited 100.00 50 HSBC Global Asset Management (Switzerland) AG 100.00 (99.66) 4, 93 HSBC Global Asset Management (Taiwan) Limited 100.00 94 HSBC Global Asset Management (UK) Limited 100.00 16 HSBC Global Asset Management (USA) Inc. 100.00 95 HSBC Global Asset Management Argentina S.A. Sociedad Gerente de Fondos Comunes de Inversión 100.00 (99.99) 96 HSBC Global Asset Management Holdings (Bahamas) Limited 100.00 97 HSBC Global Asset Management Limited 100.00 2, 16 HSBC Global Custody Nominee (UK) Limited 100.00 16 HSBC Global Custody Proprietary Nominee (UK) Limited 100.00 1, 16 HSBC Global Services (Canada) Limited 100.00 98 HSBC Global Services (China) Holdings Limited 100.00 16 HSBC Global Services (Hong Kong) Limited 100.00 44 HSBC Global Services (UK) Limited 100.00 16 HSBC Global Services Limited 100.00 2, 16 HSBC Global Shared Services (India) Private Limited (In Liquidation) 99.99 1, 51 HSBC Group Management Services Limited 100.00 16 HSBC Group Nominees UK Limited 100.00 2, 16 HSBC Holdings B.V. 100.00 16 HSBC IM Pension Trust Limited 100.00 16 HSBC Infrastructure Debt GP 1 S.à r.l. N/A 0, 52 HSBC Infrastructure Debt GP 2 S.à r.l. N/A 0, 52 HSBC Infrastructure Limited 100.00 16 HSBC INKA Investment-AG TGV 100.00 (99.33) 12, 99 HSBC Inmobiliaria (Mexico), S.A. de C.V. 100.00 (99.99) 14 HSBC Institutional Trust Services (Asia) Limited 100.00 44 HSBC Institutional Trust Services (Bermuda) Limited 100.00 21 Subsidiaries % of share class held by immediate parent company (or by the Group where this varies) Footnotes HSBC Institutional Trust Services (Mauritius) Limited 100.00 59 HSBC Institutional Trust Services (Singapore) Limited 100.00 50 HSBC Insurance (Asia) Limited 100.00 100 HSBC Insurance (Asia-Pacific) Holdings Limited 100.00 101 HSBC Insurance (Bermuda) Limited 100.00 21 HSBC Insurance (Singapore) Pte. Limited 100.00 50 HSBC Insurance Agency (USA) Inc. 100.00 95 HSBC Insurance Brokers (Philippines) Inc 99.99 102 HSBC Insurance Holdings Limited 100.00 2, 16 HSBC Insurance SAC 1 (Bermuda) Limited 100.00 21 HSBC Insurance SAC 2 (Bermuda) Limited 100.00 21 HSBC Insurance Services (Lebanon) S.A.L. (In Liquidation) 99.99 103 HSBC Insurance Services Holdings Limited 100.00 16 HSBC International Finance Corporation (Delaware) 100.00 104 HSBC International Trustee (BVI) Limited 100.00 8, 105 HSBC International Trustee (Holdings) Pte. Limited 100.00 50 HSBC International Trustee Limited 100.00 106 HSBC Inversiones S.A. 99.99 57 HSBC InvestDirect (India) Limited 100.00 (99.98) 107 HSBC InvestDirect Financial Services (India) Limited 99.99 (99.98) 107 HSBC InvestDirect Sales & Marketing (India) Limited 98.99 (98.98) 51 HSBC InvestDirect Securities (India) Private Limited 99.99 107 HSBC Investment Bank Holdings B.V. 100.00 16 HSBC Investment Bank Holdings Limited 100.00 16 HSBC Investment Company (Egypt) S.A.E (In Liquidation) 100.00 (97.81) 108 HSBC Investment Company Limited 100.00 2, 16 HSBC Investment Funds (Canada) Inc. 100.00 109 HSBC Investment Funds (Hong Kong) Limited 100.00 22 HSBC Investment Funds (Luxembourg) SA 100.00 52 HSBC Invoice Finance (UK) Limited 100.00 110 HSBC Issuer Services Common Depositary Nominee (UK) Limited 100.00 16 HSBC Issuer Services Depositary Nominee (UK) Limited 100.00 16 HSBC Latin America B.V. 100.00 16 HSBC Latin America Holdings (UK) Limited 100.00 2, 16 HSBC Leasing (Asia) Limited 100.00 44 HSBC Leasing (France) 100.00 (99.99) 34 HSBC Life (Cornell Centre) Limited 100.00 100 HSBC Life (Edwick Centre) Limited 100.00 100 HSBC Life (International) Limited 100.00 21 HSBC Life (Property Investment) Limited 100.00 100 HSBC Life (Property Light) Limited 100.00 100 HSBC Life (Property) Limited 100.00 100 HSBC Life (Tsing Yi Industrial) Limited 100.00 100 HSBC Life (UK) Limited 100.00 16 HSBC Life Assurance (Malta) Limited 100.00 (70.03) 91 HSBC LU Nominees Limited 100.00 16 HSBC Management (Guernsey) Limited 100.00 20 HSBC Markets (USA) Inc. 100.00 13 HSBC Marking Name Nominee (UK) Limited 100.00 16 HSBC Master Trust Trustee Limited 100.00 16 HSBC Mexico, S.A., Institucion de Banca Multiple, Grupo Financiero HSBC 99.99 14 HSBC Middle East Finance Company Limited 100.00 (80.00) 111 HSBC Middle East Holdings B.V. 100.00 2, 112 HSBC Middle East Leasing Partnership N/A 0, 113 HSBC Middle East Securities L.L.C N/A 0, 114 HSBC Mortgage Corporation (Canada) 100.00 115 HSBC Mortgage Corporation (USA) 100.00 13 Subsidiaries % of share class held by immediate parent company (or by the Group where this varies) Footnotes HSBC Nominees (Asing) Sdn Bhd 100.00 48 HSBC Nominees (Hong Kong) Limited 100.00 44 HSBC Nominees (New Zealand) Limited 100.00 116 HSBC Nominees (Tempatan) Sdn Bhd 100.00 48 HSBC North America Holdings Inc. 100.00 3, 13 HSBC Operational Services GmbH 90.10 (89.49) 117 HSBC Overseas Holdings (UK) Limited 100.00 2, 16 HSBC Overseas Investments Corporation (New York) 100.00 118 HSBC Overseas Nominee (UK) Limited 100.00 16 HSBC Participaciones (Argentina) S.A. 100.00 (99.99) 53 HSBC PB Corporate Services 1 Limited 100.00 119 HSBC PB Services (Suisse) SA 100.00 120 HSBC Pension Trust (Ireland) DAC 100.00 121 HSBC Pensiones, S.A. 100.00 14 HSBC PI Holdings (Mauritius) Limited 100.00 59 HSBC Portfoy Yonetimi A.S. 100.00 122 HSBC Preferential LP (UK) 100.00 16 HSBC Private Bank (Luxembourg) S.A. 100.00 52 HSBC Private Bank (Suisse) SA 100.00 123 HSBC Private Bank (UK) Limited 100.00 16 HSBC Private Banking Holdings (Suisse) SA 100.00 120 HSBC Private Banking Nominee 3 (Jersey) Limited 100.00 124 HSBC Private Equity Investments (UK) Limited 100.00 16 HSBC Private Trustee (Hong Kong) Limited 100.00 44 HSBC Private Wealth Services (Canada) Inc. 100.00 109 HSBC Professional Services (India) Private Limited 100.00 125 HSBC Property (UK) Limited 100.00 16 HSBC Property Funds (Holding) Limited 100.00 16 HSBC Provident Fund Trustee (Hong Kong) Limited 100.00 44 HSBC Qianhai Securities Limited 100.00 (51.00) 10, 126 HSBC Real Estate Leasing (France) 100.00 (99.99) 34 HSBC Realty Credit Corporation (USA) 100.00 13 HSBC REGIO Fund General Partner S.à r.l. 100.00 52 HSBC REIM (France) 100.00 (99.99) 55 HSBC Retirement Benefits Trustee (UK) Limited 100.00 1, 2, 16 HSBC Retirement Services Limited 100.00 1, 16 HSBC Savings Bank (Philippines) Inc. 99.99 127 HSBC Securities (Asia) Limited (In Liquidation) 100.00 44 HSBC Securities (Canada) Inc. 100.00 98 HSBC Securities (Egypt) S.A.E. 100.00 (94.65) 67 HSBC Securities (Japan) Limited 100.00 16 HSBC Securities (Singapore) Pte Limited 100.00 50 HSBC Securities (South Africa) (Pty) Limited 100.00 128 HSBC Securities (Taiwan) Corporation Limited 100.00 129 HSBC Securities (USA) Inc. 100.00 13 HSBC Securities and Capital Markets (India) Private Limited 99.99 51 HSBC Securities Asia Nominees Limited (In Liquidation) 100.00 44 HSBC Securities Brokers (Asia) Limited 100.00 44 HSBC Securities Investments (Asia) Limited 100.00 44 HSBC Securities Services (Bermuda) Limited 100.00 21 HSBC Securities Services (Guernsey) Limited 100.00 20 HSBC Securities Services (Ireland) DAC 100.00 121 HSBC Securities Services (Luxembourg) S.A. 100.00 52 HSBC Securities Services Holdings (Ireland) DAC 100.00 121 HSBC Securities Services Nominees Limited 100.00 44 HSBC Seguros de Retiro (Argentina) S.A. 100.00 (99.99) 53 HSBC Seguros de Vida (Argentina) S.A. 100.00 (99.99) 53 HSBC Seguros, S.A de C.V., Grupo Financiero HSBC 100.00 (99.99) 3, 14 HSBC Service Company Germany GmbH 100.00 (99.33) 130 HSBC Service Delivery (Polska) Sp. z o.o. 100.00 131 HSBC Services (France) 100.00 (99.99) 34 HSBC Services Japan Limited 100.00 132 Subsidiaries % of share class held by immediate parent company (or by the Group where this varies) Footnotes HSBC Services USA Inc. 100.00 133 HSBC Servicios Financieros, S.A. de C.V 100.00 (99.99) 14 HSBC Servicios, S.A. DE C.V., Grupo Financiero HSBC 100.00 (99.99) 14 HSBC SFH (France) 100.00 (99.99) 4, 55 HSBC SFT (C.I.) Limited 100.00 20 HSBC Software Development (Guangdong) Limited 100.00 134 HSBC Software Development (India) Private Limited 100.00 135 HSBC Software Development (Malaysia) Sdn Bhd 100.00 79 HSBC Specialist Investments Limited 100.00 16 HSBC Technology & Services (China) Limited 100.00 136 HSBC Technology & Services (USA) Inc. 100.00 13 HSBC Transaction Services GmbH 100.00 (99.33) 6, 137 HSBC Trinkaus & Burkhardt (International) S.A. 100.00 (99.33) 52 HSBC Trinkaus & Burkhardt AG 99.33 38 HSBC Trinkaus & Burkhardt Gesellschaft fur Bankbeteiligungen mbH 100.00 (99.33) 38 HSBC Trinkaus Europa Immobilien-Fonds Nr. 5 GmbH 100.00 (99.33) 38 HSBC Trinkaus Family Office GmbH 100.00 (99.33) 6, 38 HSBC Trinkaus Immobilien Beteiligungs KG 100.00 (99.33) 38 HSBC Trinkaus Real Estate GmbH 100.00 (99.33) 6, 38 HSBC Trust Company (Canada) 100.00 115 HSBC Trust Company (Delaware), National Association 100.00 104 HSBC Trust Company (UK) Limited 100.00 16 HSBC Trust Company AG (In Liquidation) 100.00 31 HSBC Trustee (C.I.) Limited 100.00 124 HSBC Trustee (Cayman) Limited 100.00 138 HSBC Trustee (Guernsey) Limited 100.00 20 HSBC Trustee (Hong Kong) Limited 100.00 44 HSBC Trustee (Singapore) Limited 100.00 50 HSBC UK Bank plc 100.00 15 HSBC UK Client Nominee Limited 100.00 15 HSBC UK Holdings Limited 100.00 2, 16 HSBC USA Inc. 100.00 118 HSBC Ventures USA Inc. 100.00 13 HSBC Violet Investments (Mauritius) Limited 100.00 76 HSBC Wealth Client Nominee Limited 100.00 1, 15 HSBC Yatirim Menkul Degerler A.S. 100.00 122 HSI Asset Securitization Corporation 100.00 13 HSI International Limited 100.00 (62.14) 37 HSIL Investments Limited 100.00 16 Hubei Macheng HSBC Rural Bank Company Limited 100.00 139 Hubei Suizhou Cengdu HSBC Rural Bank Company Limited 100.00 10, 140 Hubei Tianmen HSBC Rural Bank Company Limited 100.00 141 Hunan Pingjiang HSBC Rural Bank Company Limited 100.00 10, 142 Imenson Limited 100.00 (62.14) 37 Infrared NF China Real Estate Investments LP N/A 0, 186 INKA Internationale Kapitalanlagegesellschaft mbH 100.00 (99.33) 137 Inmobiliaria Banci, S.A. de C.V. 100.00 (99.68) 14 Inmobiliaria Bisa, S.A. de C.V. 99.98 14 Inmobiliaria Grufin, S.A. de C.V. 100.00 (99.99) 14 Inmobiliaria Guatusi, S.A. de C.V. 100.00 (99.99) 14 James Capel & Co. Limited 100.00 16 James Capel (Nominees) Limited 100.00 16 James Capel (Taiwan) Nominees Limited 100.00 16 John Lewis Financial Services Limited 100.00 16 Keyser Ullmann Limited 100.00 (99.99) 16 Lion Corporate Services Limited 100.00 44 Lion International Corporate Services Limited 100.00 1, 106 Subsidiaries % of share class held by immediate parent company (or by the Group where this varies) Footnotes Lion International Management Limited 100.00 106 Lion Management (Hong Kong) Limited 100.00 1, 44 Lyndholme Limited 100.00 44 Marks and Spencer Financial Services plc 100.00 143 Marks and Spencer Unit Trust Management Limited 100.00 143 Maxima S.A. AFJP (In Liquidation) 99.98 53 Mexicana de Fomento, S.A. de C.V. 100.00 (99.90) 14 Midcorp Limited 100.00 16 Midland Bank (Branch Nominees) Limited 100.00 15 Midland Nominees Limited 100.00 15 MIL (Cayman) Limited 100.00 74 MW Gestion SA 100.00 53 Promocion en Bienes Raices, S.A. de C.V. 100.00 (99.99) 14 Prudential Client HSBC GIS Nominee (UK) Limited 100.00 16 PT Bank HSBC Indonesia 99.99 (98.93) 144 PT HSBC Sekuritas Indonesia 85.00 145 R/CLIP Corp. 100.00 13 Real Estate Collateral Management Company 100.00 13 Republic Nominees Limited 100.00 20 Republic Overseas Capital Corporation 100.00 95 RLUKREF Nominees (UK) One Limited 100.00 1, 16 RLUKREF Nominees (UK) Two Limited 100.00 1, 16 S.A.P.C. - Ufipro Recouvrement 99.99 34 Saf Baiyun 100.00 (99.99) 4, 34 Saf Guangzhou 100.00 (99.99) 4, 34 Saf Zhu Jiang Shi Ba 100.00 (99.99) 4, 34 Saf Zhu Jiang Shi Er 100.00 (99.99) 4, 34 Saf Zhu Jiang Shi Jiu 100.00 (99.99) 4, 34 Saf Zhu Jiang Shi Liu 100.00 (99.99) 4, 34 Saf Zhu Jiang Shi Qi 100.00 (99.99) 4, 34 Saf Zhu Jiang Shi Wu 100.00 (99.99) 4, 34 SCI HSBC Assurances Immo 100.00 (99.99) 55 Serai Limited 100.00 1, 44 Serai Technology Development (Shanghai) Limited 100.00 10, 147 SFM 100.00 (99.99) 34 SFSS Nominees (Pty) Limited 100.00 128 Shandong Rongcheng HSBC Rural Bank Company Limited 100.00 10, 148 Shenzhen HSBC Development Company Ltd 100.00 149 Sico Limited 100.00 150 SNC Dorique 99.99 1, 9, 151 SNC Les Mercuriales 100.00 (99.99) 1, 9, 34 SNC Les Oliviers D'Antibes 60.00 55 SNC Makala 100.00 (99.99) 1, 9, 34 SNCB/M6 - 2008 A 100.00 (99.99) 34 SNCB/M6-2007 A 100.00 (99.99) 4, 34 SNCB/M6-2007 B 100.00 (99.99) 4, 34 Société Française et Suisse 100.00 (99.99) 34 Somers Dublin DAC 100.00 (99.99) 121 Somers Nominees (Far East) Limited 100.00 21 Sopingest 100.00 (99.99) 34 South Yorkshire Light Rail Limited 100.00 16 St Cross Trustees Limited 100.00 15 Sun Hung Kai Development (Lujiazui III) Limited 100.00 10, 152 Swan National Limited 100.00 16 Tasfiye Halinde HSBC Odeme Sistemleri Bilgisayar Teknolojileri Basin Yayin Ve Musteri Hizmetleri (In Liquidation) 100.00 153 The Hongkong and Shanghai Banking Corporation Limited 100.00 44 The Venture Catalysts Limited 100.00 16 Tooley Street View Limited 100.00 2, 16 Tower Investment Management 100.00 154 Trinkaus Australien Immobilien Fonds Nr. 1 Brisbane GmbH & Co. KG 100.00 (99.33) 38 Trinkaus Australien Immobilien-Fonds Nr. 1 Treuhand-GmbH 100.00 (99.33) 6, 38 Subsidiaries % of share class held by immediate parent company (or by the Group where this varies) Footnotes Trinkaus Europa Immobilien-Fonds Nr.3 Objekt Utrecht Verwaltungs-GmbH 100.00 (99.33) 38 Trinkaus Immobilien-Fonds Geschaeftsfuehrungs-GmbH 100.00 (99.33) 6, 38 Trinkaus Immobilien-Fonds Verwaltungs-GmbH 100.00 (99.33) 6, 38 Trinkaus Private Equity Management GmbH 100.00 (99.33) 38 Trinkaus Private Equity Verwaltungs GmbH 100.00 (99.33) 6, 38 Tropical Nominees Limited 100.00 74 Turnsonic (Nominees) Limited 100.00 15 Valeurs Mobilières Elysées 100.00 (99.99) 34 Wardley Limited 100.00 44 Wayfoong Nominees Limited 100.00 44 Wayhong (Bahamas) Limited 100.00 97 Westminster House, LLC N/A 0, 13 Woodex Limited 100.00 21 Yan Nin Development Company Limited 100.00 (62.14) 37 |
Structured entities (Tables)
Structured entities (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Interests In Other Entities [Abstract] | |
Disclosure of total assets of consolidated structured entities | Total assets of HSBC’s consolidated structured entities, split by entity type Conduits Securitisations HSBC Other Total $bn $bn $bn $bn $bn At 31 Dec 2020 6.9 11.7 5.3 10.8 34.7 At 31 Dec 2019 8.6 9.6 6.8 6.7 31.7 |
Disclosure of information about unconsolidated structured entities | Nature and risks associated with HSBC interests in unconsolidated structured entities Securitisations HSBC managed funds Non-HSBC managed funds Other Total Total asset values of the entities ($m) 0–500 86 292 1,430 47 1,855 500–2,000 9 94 733 2 838 2,000–5,000 — 32 389 — 421 5,000–25,000 — 14 311 — 325 25,000+ — 5 41 — 46 Number of entities at 31 Dec 2020 95 437 2,904 49 3,485 $bn $bn $bn $bn $bn Total assets in relation to HSBC’s interests in the unconsolidated structured entities 4.4 9.9 17.5 2.1 33.9 – trading assets — 0.3 3.2 — 3.5 – financial assets designated and otherwise mandatorily measured at fair value — 8.6 13.8 — 22.4 – loans and advances to customers 4.4 — — 1.5 5.9 – financial investments — 1 0.5 — 1.5 – other assets — — — 0.6 0.6 Total liabilities in relation to HSBC’s interests in the unconsolidated structured entities — — — 0.3 0.3 – other liabilities — — — 0.3 0.3 Other off-balance sheet commitments 0.1 0.5 4.9 1.2 6.7 HSBC’s maximum exposure at 31 Dec 2020 4.5 10.4 22.4 3.6 40.9 Total asset values of the entities ($m) 0–500 91 236 670 70 1,067 500–2,000 12 70 642 7 731 2,000–5,000 — 28 345 — 373 5,000–25,000 — 14 260 — 274 25,000+ — 3 39 2 44 Number of entities at 31 Dec 2019 103 351 1,956 79 2,489 $bn $bn $bn $bn $bn Total assets in relation to HSBC’s interests in the unconsolidated structured entities 5.3 9.1 15.1 4.2 33.7 – trading assets — 0.2 3.5 1.3 5 – financial assets designated and otherwise mandatorily measured at fair value — 8.4 10.7 — 19.1 – loans and advances to customers 5.3 — 0.4 2.3 8 – financial investments — 0.5 0.5 — 1 – other assets — — — 0.6 0.6 Total liabilities in relation to HSBC’s interests in the unconsolidated structured entities — — — 0.3 0.3 – other liabilities — — — 0.3 0.3 Other off-balance sheet commitments 0.3 0.3 3.9 0.7 5.2 HSBC’s maximum exposure at 31 Dec 2019 5.6 9.4 19.0 4.6 38.6 |
Goodwill and intangible assets
Goodwill and intangible assets (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Intangible Assets [Abstract] | |
Disclosure of components of goodwill and intangible assets | 2020 2019 Footnotes $m $m Goodwill 5,881 5,590 Present value of in-force long-term insurance business 9,435 8,945 Other intangible assets 1 5,127 5,628 At 31 Dec 20,443 20,163 1 Included within other intangible assets is internally generated software with a net carrying value of $4,452m (2019: $4,829m). During the year, capitalisation of internally generated software was $1,934m (2019: $2,086m), impairment was $1,322m (2019: $38m) and amortisation was $1,085m (2019: $947m). |
Disclosure of reconciliation of changes in intangible assets and goodwill | Movement analysis of goodwill 2020 2019 $m $m Gross amount At 1 Jan 22,084 22,180 Exchange differences 967 (154) Other 84 58 At 31 Dec 23,135 22,084 Accumulated impairment losses At 1 Jan (16,494) (9,194) Impairment losses (41) (7,349) Exchange differences (719) 49 At 31 Dec (17,254) (16,494) Net carrying amount at 31 Dec 5,881 5,590 Movements in PVIF 2020 2019 Footnotes $m $m At 1 Jan 8,945 7,149 Change in PVIF of long-term insurance business 382 1,749 – value of new business written during the year 776 1,225 – expected return 1 (1,003) (836) – assumption changes and experience variances (see below) 604 1,378 – other adjustments 5 (18) Exchange differences and other movements 108 47 At 31 Dec 9,435 8,945 1 ‘Expected return’ represents the unwinding of the discount rate and reversal of expected cash flows for the period. |
Disclosure of key assumption in value in use calculation | Key assumptions in VIU calculation – significant CGUs at 1 October 2020 Goodwill at Discount rate Growth rate Goodwill at Discount Nominal Goodwill at 31 Dec 2019 Discount Nominal $m % % $m % % $m % % Cash-generating unit Europe – WPB 1 3,582 9.6 1.9 3,496 8.3 3.2 3,464 8.3 1.7 1 CGU tested as Europe – RBWM at 31 December 2019. Details regarding our change in global businesses are set out in Note 10. |
Disclosure impairment results and key assumptions in VIU calculation | Input Key assumptions Associated risks Reasonably possible change Cash-generating unit Europe – WPB Cash flow projections • Level of interest rates and yield curves. • Competitors’ position within the market. • Level and change in unemployment rates. • Uncertain regulatory environment. • Customer remediation and regulatory actions. • Cash flow projections decrease by 30%. Discount rate • Discount rate used is a reasonable estimate of a suitable market rate for the profile of the business. • External evidence suggests that the rate used is not appropriate to the business. • Discount rate increases by 100bps. This does not result in an impairment. Sensitivity of VIU to reasonably possible changes in key assumptions and changes to current assumptions to achieve nil headroom Europe – WPB In $bn (unless otherwise stated) At 31 December 2020 Carrying amount 11.1 VIU 16.4 Impact on VIU 100 bps increase in the discount rate – single variable (2.3) 30% decrease in cash flow projections – single variable (6.0) Cumulative impact of all changes (7.6) Changes to key assumption to reduce headroom to nil – single variable Discount rate – bps 271 Cash flows – % (26.5) |
Disclosure of assumptions for long-duration contracts | 2020 2019 Hong Kong France 1 Hong Kong France 1 % % % % Weighted average risk-free rate 0.71 0.34 1.84 0.44 Weighted average risk discount rate 4.96 1.34 5.44 1.27 Expense inflation 3.00 1.60 3.00 1.70 1 For 2020, the calculation of France’s PVIF assumes a risk discount rate of 1.34% (2019: 1.27%) plus a risk margin of $213m (2019: $130m). |
Prepayments, accrued income a_2
Prepayments, accrued income and other assets (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Disclosure of detailed information about prepayments, accrued income and other assets | 2020 2019 $m $m Prepayments and accrued income 8,114 9,057 Settlement accounts 17,316 14,744 Cash collateral and margin receivables 59,543 49,148 Assets held for sale 299 123 Bullion 20,151 14,830 Endorsements and acceptances 10,278 10,198 Reinsurers’ share of liabilities under insurance contracts (Note 4) 3,448 3,592 Employee benefit assets (Note 5) 10,450 8,280 Right-of-use assets 4,002 4,222 Owned property, plant and equipment 10,412 10,480 Other accounts 12,399 12,006 At 31 Dec 156,412 136,680 |
Trading liabilities (Tables)
Trading liabilities (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Financial Instruments [Abstract] | |
Disclosure of trading liabilities | 2020 2019 Footnotes $m $m Deposits by banks 1 6,689 4,187 Customer accounts 1 10,681 6,999 Other debt securities in issue (Note 25) 1,582 1,404 Other liabilities – net short positions in securities 56,314 70,580 At 31 Dec 75,266 83,170 1 ‘Deposits by banks’ and ‘Customer accounts’ include repos, stock lending and other amounts. HSBC 2020 2019 Footnotes $m $m Deposits by banks and customer accounts 1, 2 19,176 17,660 Liabilities to customers under investment contracts 6,385 5,893 Debt securities in issue (Note 25) 121,034 130,364 Subordinated liabilities (Note 28) 10,844 10,130 Preferred securities (Note 28) — 419 At 31 Dec 157,439 164,466 1 Structured deposits placed at HSBC Bank USA are insured by the Federal Deposit Insurance Corporation, a US government agency, up to $250,000 per depositor. HSBC Holdings 2020 2019 $m $m Debt securities in issue (Note 25) 19,624 24,687 Subordinated liabilities (Note 28) 6,040 5,616 At 31 Dec 25,664 30,303 HSBC’s subordinated liabilities 2020 2019 $m $m At amortised cost 21,951 24,600 – subordinated liabilities 20,095 22,775 – preferred securities 1,856 1,825 Designated at fair value (Note 24) 10,844 10,549 – subordinated liabilities 10,844 10,130 – preferred securities — 419 At 31 Dec 32,795 35,149 Issued by HSBC subsidiaries 10,223 12,363 Issued by HSBC Holdings 22,572 22,786 HSBC’s subsidiaries subordinated liabilities in issue 2020 2019 Footnotes First call date Maturity date $m $m Additional tier 1 capital securities guaranteed by HSBC Holdings 1 $900m 10.176% non-cumulative step-up perpetual preferred securities, series 2 Jun 2030 900 900 900 900 Additional tier 1 capital securities guaranteed by HSBC Bank plc 1 £300m 5.862% non-cumulative step-up perpetual preferred securities 2 Apr 2020 — 420 £700m 5.844% non-cumulative step-up perpetual preferred securities Nov 2031 956 925 956 1,345 Tier 2 securities issued by HSBC Bank plc $750m Undated floating rate primary capital notes Jun 1990 750 750 $500m Undated floating rate primary capital notes Sep 1990 500 500 $300m Undated floating rate primary capital notes, series 3 Jun 1992 300 300 $300m 7.65% subordinated notes — May 2025 300 300 1,850 1,850 £300m 6.50% subordinated notes — Jul 2023 409 396 £350m 5.375% callable subordinated step-up notes 3 Nov 2025 Nov 2030 583 549 £500m 5.375% subordinated notes — Aug 2033 981 875 £225m 6.25% subordinated notes — Jan 2041 306 296 £600m 4.75% subordinated notes — Mar 2046 812 785 3,091 2,901 4,941 4,751 Tier 2 securities issued by The Hongkong and Shanghai Banking Corporation Ltd $400m Primary capital undated floating rate notes (third series) Jul 1991 400 400 400 400 Tier 2 securities issued by HSBC Bank Malaysia Berhad MYR500m 5.05% subordinated bonds 7 Nov 2022 Nov 2027 124 122 124 122 Tier 2 securities issued by HSBC USA Inc. 7 $750m 5.00% subordinated notes 8 — Sep 2020 — 748 $250m 7.20% subordinated debentures — Jul 2097 222 221 Other subordinated liabilities each less than $150m 200 202 422 1,171 Tier 2 securities issued by HSBC Bank USA, N.A. $1,250m 4.875% subordinated notes 8 — Aug 2020 — 1,246 $1,000m 5.875% subordinated notes 5 — Nov 2034 497 463 $750m 5.625% subordinated notes 5 — Aug 2035 533 496 $700m 7.00% subordinated notes — Jan 2039 700 700 1,730 2,905 Tier 2 securities issued by HSBC Finance Corporation $2,939m 6.676% senior subordinated notes 6,7 — Jan 2021 509 507 Tier 2 securities issued by HSBC Bank Canada Other subordinated liabilities each less than $150.00m Oct 1996 Nov 2083 9 26 9 26 Securities issued by other HSBC subsidiaries Other subordinated liabilities each less than $200m 4 232 236 Subordinated liabilities issued by HSBC subsidiaries at 31 Dec 10,223 12,363 1 See paragraph below, ‘Guaranteed by HSBC Holdings or HSBC Bank plc’. 2 HSBC Bank plc exercised the call option on the security in April 2020 and the security was subsequently redeemed. 3 The interest rate payable after November 2025 is the sum of the three-month sterling Libor plus 1.5 percentage points. 4 These securities are included in the capital base of HSBC, a subset of which are included in accordance with the grandfathering provisions under CRR II, with the exception of $109m in relation to securities which matured 31 December 2020, settlement expected in June 2021, which are no longer eligible for inclusion in the capital base of HSBC. 5 HSBC tendered for these securities in November 2019. The principal balance is $358m and $383m respectively. The original notional value of these securities are $1,000m and $750m respectively. 6 HSBC tendered for these securities in 2017. In January 2018, a further tender was conducted. The principal balance is $507m. The original notional of these securities is $2,939m. This instrument matured and settled in January 2021. 7 These securities are ineligible for inclusion in the capital base of HSBC. 8 These securities matured in 2020 and were redeemed. HSBC Holdings’ subordinated liabilities 2020 2019 $m $m At amortised cost 17,916 18,361 Designated at fair value (Note 24) 6,040 5,616 At 31 Dec 23,956 23,977 HSBC Holdings’ subordinated liabilities in issue First call Maturity 2020 2019 Footnotes date date $m $m Tier 2 securities issued by HSBC Holdings Amounts owed to third parties $2,000m 4.25% subordinated notes 2,3 — Mar 2024 2,151 2,076 $1,500m 4.25% subordinated notes 2 — Aug 2025 1,702 1,611 $1,500m 4.375% subordinated notes 2 — Nov 2026 1,736 1,626 $488m 7.625% subordinated notes 1 — May 2032 541 545 $222m 7.35% subordinated notes 1 — Nov 2032 243 245 $2,000m 6.50% subordinated notes 1 — May 2036 2,034 2,036 $2,500m 6.50% subordinated notes 1 — Sep 2037 3,033 2,738 $1,500m 6.80% subordinated notes 1 — Jun 2038 1,490 1,490 $1,500m 5.25% subordinated notes 2 — Mar 2044 2,092 1,886 £650m 5.75% subordinated notes 2 — Dec 2027 1,130 1,059 £650m 6.75% subordinated notes 2 — Sep 2028 884 855 £750m 7.00% subordinated notes 2 — Apr 2038 1,157 1,064 £900m 6.00% subordinated notes 2 — Mar 2040 1,483 1,294 €1,500m 3.0% subordinated notes 2 — Jun 2025 1,916 1,736 €1,000m 3.125% subordinated notes 2 — Jun 2028 1,472 1,321 23,064 21,582 Amounts owed to HSBC undertakings $900m 10.176% subordinated step-up cumulative notes Jun 2030 Jun 2040 892 892 892 892 Other securities issued by HSBC Holdings Amounts owed to third parties $1,500m 5.625% contingent convertible securities 4 Nov 2019 Jan 2020 — 1,503 — 1,503 At 31 Dec 23,956 23,977 1 Amounts owed to third parties represent securities included in the capital base of HSBC as tier 2 securities in accordance with the grandfathering provisions under CRR II. Prior period figures are included on a CRD IV basis. 2 These securities are included in the capital base of HSBC as fully CRR II-compliant tier 2 securities on an end point basis. 3 These subordinated notes are measured at amortised cost in HSBC Holdings, where the interest rate risk is hedged using a fair value hedge, while they are measured at fair value in the Group. 4 This security was called by HSBC Holdings on 22 November 2019 and was redeemed and cancelled on 17 January 2020. Between the date of exercise of the call option and the redemption, this security was considered to be a subordinated liability. Refer to Note 31 for further details on additional tier 1 securities. |
Financial liabilties designat_2
Financial liabilties designated at fair value (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Financial Instruments [Abstract] | |
Disclosure of financial liabilities measured at fair value | 2020 2019 Footnotes $m $m Deposits by banks 1 6,689 4,187 Customer accounts 1 10,681 6,999 Other debt securities in issue (Note 25) 1,582 1,404 Other liabilities – net short positions in securities 56,314 70,580 At 31 Dec 75,266 83,170 1 ‘Deposits by banks’ and ‘Customer accounts’ include repos, stock lending and other amounts. HSBC 2020 2019 Footnotes $m $m Deposits by banks and customer accounts 1, 2 19,176 17,660 Liabilities to customers under investment contracts 6,385 5,893 Debt securities in issue (Note 25) 121,034 130,364 Subordinated liabilities (Note 28) 10,844 10,130 Preferred securities (Note 28) — 419 At 31 Dec 157,439 164,466 1 Structured deposits placed at HSBC Bank USA are insured by the Federal Deposit Insurance Corporation, a US government agency, up to $250,000 per depositor. HSBC Holdings 2020 2019 $m $m Debt securities in issue (Note 25) 19,624 24,687 Subordinated liabilities (Note 28) 6,040 5,616 At 31 Dec 25,664 30,303 HSBC’s subordinated liabilities 2020 2019 $m $m At amortised cost 21,951 24,600 – subordinated liabilities 20,095 22,775 – preferred securities 1,856 1,825 Designated at fair value (Note 24) 10,844 10,549 – subordinated liabilities 10,844 10,130 – preferred securities — 419 At 31 Dec 32,795 35,149 Issued by HSBC subsidiaries 10,223 12,363 Issued by HSBC Holdings 22,572 22,786 HSBC’s subsidiaries subordinated liabilities in issue 2020 2019 Footnotes First call date Maturity date $m $m Additional tier 1 capital securities guaranteed by HSBC Holdings 1 $900m 10.176% non-cumulative step-up perpetual preferred securities, series 2 Jun 2030 900 900 900 900 Additional tier 1 capital securities guaranteed by HSBC Bank plc 1 £300m 5.862% non-cumulative step-up perpetual preferred securities 2 Apr 2020 — 420 £700m 5.844% non-cumulative step-up perpetual preferred securities Nov 2031 956 925 956 1,345 Tier 2 securities issued by HSBC Bank plc $750m Undated floating rate primary capital notes Jun 1990 750 750 $500m Undated floating rate primary capital notes Sep 1990 500 500 $300m Undated floating rate primary capital notes, series 3 Jun 1992 300 300 $300m 7.65% subordinated notes — May 2025 300 300 1,850 1,850 £300m 6.50% subordinated notes — Jul 2023 409 396 £350m 5.375% callable subordinated step-up notes 3 Nov 2025 Nov 2030 583 549 £500m 5.375% subordinated notes — Aug 2033 981 875 £225m 6.25% subordinated notes — Jan 2041 306 296 £600m 4.75% subordinated notes — Mar 2046 812 785 3,091 2,901 4,941 4,751 Tier 2 securities issued by The Hongkong and Shanghai Banking Corporation Ltd $400m Primary capital undated floating rate notes (third series) Jul 1991 400 400 400 400 Tier 2 securities issued by HSBC Bank Malaysia Berhad MYR500m 5.05% subordinated bonds 7 Nov 2022 Nov 2027 124 122 124 122 Tier 2 securities issued by HSBC USA Inc. 7 $750m 5.00% subordinated notes 8 — Sep 2020 — 748 $250m 7.20% subordinated debentures — Jul 2097 222 221 Other subordinated liabilities each less than $150m 200 202 422 1,171 Tier 2 securities issued by HSBC Bank USA, N.A. $1,250m 4.875% subordinated notes 8 — Aug 2020 — 1,246 $1,000m 5.875% subordinated notes 5 — Nov 2034 497 463 $750m 5.625% subordinated notes 5 — Aug 2035 533 496 $700m 7.00% subordinated notes — Jan 2039 700 700 1,730 2,905 Tier 2 securities issued by HSBC Finance Corporation $2,939m 6.676% senior subordinated notes 6,7 — Jan 2021 509 507 Tier 2 securities issued by HSBC Bank Canada Other subordinated liabilities each less than $150.00m Oct 1996 Nov 2083 9 26 9 26 Securities issued by other HSBC subsidiaries Other subordinated liabilities each less than $200m 4 232 236 Subordinated liabilities issued by HSBC subsidiaries at 31 Dec 10,223 12,363 1 See paragraph below, ‘Guaranteed by HSBC Holdings or HSBC Bank plc’. 2 HSBC Bank plc exercised the call option on the security in April 2020 and the security was subsequently redeemed. 3 The interest rate payable after November 2025 is the sum of the three-month sterling Libor plus 1.5 percentage points. 4 These securities are included in the capital base of HSBC, a subset of which are included in accordance with the grandfathering provisions under CRR II, with the exception of $109m in relation to securities which matured 31 December 2020, settlement expected in June 2021, which are no longer eligible for inclusion in the capital base of HSBC. 5 HSBC tendered for these securities in November 2019. The principal balance is $358m and $383m respectively. The original notional value of these securities are $1,000m and $750m respectively. 6 HSBC tendered for these securities in 2017. In January 2018, a further tender was conducted. The principal balance is $507m. The original notional of these securities is $2,939m. This instrument matured and settled in January 2021. 7 These securities are ineligible for inclusion in the capital base of HSBC. 8 These securities matured in 2020 and were redeemed. HSBC Holdings’ subordinated liabilities 2020 2019 $m $m At amortised cost 17,916 18,361 Designated at fair value (Note 24) 6,040 5,616 At 31 Dec 23,956 23,977 HSBC Holdings’ subordinated liabilities in issue First call Maturity 2020 2019 Footnotes date date $m $m Tier 2 securities issued by HSBC Holdings Amounts owed to third parties $2,000m 4.25% subordinated notes 2,3 — Mar 2024 2,151 2,076 $1,500m 4.25% subordinated notes 2 — Aug 2025 1,702 1,611 $1,500m 4.375% subordinated notes 2 — Nov 2026 1,736 1,626 $488m 7.625% subordinated notes 1 — May 2032 541 545 $222m 7.35% subordinated notes 1 — Nov 2032 243 245 $2,000m 6.50% subordinated notes 1 — May 2036 2,034 2,036 $2,500m 6.50% subordinated notes 1 — Sep 2037 3,033 2,738 $1,500m 6.80% subordinated notes 1 — Jun 2038 1,490 1,490 $1,500m 5.25% subordinated notes 2 — Mar 2044 2,092 1,886 £650m 5.75% subordinated notes 2 — Dec 2027 1,130 1,059 £650m 6.75% subordinated notes 2 — Sep 2028 884 855 £750m 7.00% subordinated notes 2 — Apr 2038 1,157 1,064 £900m 6.00% subordinated notes 2 — Mar 2040 1,483 1,294 €1,500m 3.0% subordinated notes 2 — Jun 2025 1,916 1,736 €1,000m 3.125% subordinated notes 2 — Jun 2028 1,472 1,321 23,064 21,582 Amounts owed to HSBC undertakings $900m 10.176% subordinated step-up cumulative notes Jun 2030 Jun 2040 892 892 892 892 Other securities issued by HSBC Holdings Amounts owed to third parties $1,500m 5.625% contingent convertible securities 4 Nov 2019 Jan 2020 — 1,503 — 1,503 At 31 Dec 23,956 23,977 1 Amounts owed to third parties represent securities included in the capital base of HSBC as tier 2 securities in accordance with the grandfathering provisions under CRR II. Prior period figures are included on a CRD IV basis. 2 These securities are included in the capital base of HSBC as fully CRR II-compliant tier 2 securities on an end point basis. 3 These subordinated notes are measured at amortised cost in HSBC Holdings, where the interest rate risk is hedged using a fair value hedge, while they are measured at fair value in the Group. 4 This security was called by HSBC Holdings on 22 November 2019 and was redeemed and cancelled on 17 January 2020. Between the date of exercise of the call option and the redemption, this security was considered to be a subordinated liability. Refer to Note 31 for further details on additional tier 1 securities. |
Debt securities in issue (Table
Debt securities in issue (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Of Debt Securities In Issue [Abstract] | |
Debt securities in issue | HSBC 2020 2019 $m $m Bonds and medium-term notes 176,570 180,969 Other debt securities in issue 41,538 55,354 Total debt securities in issue 218,108 236,323 Included within: – trading liabilities (Note 23) (1,582) (1,404) – financial liabilities designated at fair value (Note 24) (121,034) (130,364) At 31 Dec 95,492 104,555 HSBC Holdings 2020 2019 $m $m Debt securities 83,653 81,531 Included within: – financial liabilities designated at fair value (Note 24) (19,624) (24,687) At 31 Dec 64,029 56,844 |
Accruals, deferred income and_2
Accruals, deferred income and other liabilities (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Disclosure of detailed information about accruals, deferred income and other liabilities | 2020 2019 $m $m Accruals and deferred income 10,406 11,808 Settlement accounts 13,008 14,356 Cash collateral and margin payables 65,557 56,646 Endorsements and acceptances 10,293 10,127 Employee benefit liabilities (Note 5) 2,025 1,771 Lease liabilities 4,614 4,604 Other liabilities 22,721 18,844 At 31 Dec 128,624 118,156 |
Provisions (Tables)
Provisions (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Other Provisions, Contingent Liabilities And Contingent Assets [Abstract] | |
Disclosure of other provisions rollforward | Restructuring Legal proceedings Customer Other Total $m $m $m $m $m Provisions (excluding contractual commitments) At 1 Jan 2020 356 605 1,646 280 2,887 Additions 698 347 189 222 1,456 Amounts utilised (322) (177) (739) (125) (1,363) Unused amounts reversed (74) (75) (240) (80) (469) Exchange and other movements 13 56 2 8 79 At 31 Dec 2020 671 756 858 305 2,590 Contractual commitments 1 At 1 Jan 2020 511 Net change in expected credit loss provision and other movements 577 At 31 Dec 2020 1,088 Total provisions At 31 Dec 2019 3,398 At 31 Dec 2020 3,678 Provisions (excluding contractual commitments) At 1 Jan 2019 130 1,128 788 357 2,403 Additions 402 282 1,674 223 2,581 Amounts utilised (203) (660) (837) (81) (1,781) Unused amounts reversed (34) (158) (49) (108) (349) Exchange and other movements 61 13 70 (111) 33 At 31 Dec 2019 356 605 1,646 280 2,887 Contractual commitments 1 At 1 Jan 2019 517 Net change in expected credit loss provision and other movements (6) At 31 Dec 2019 511 Total provisions At 31 Dec 2018 2,920 At 31 Dec 2019 3,398 1 Contractual commitments include the provision for contingent liabilities measured under IFRS 9 ‘Financial Instruments’ in respect of financial guarantees and the expected credit loss provision on off-balance sheet guarantees and commitments. |
Subordinated liabilities (Table
Subordinated liabilities (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Financial Instruments [Abstract] | |
Disclosure of financial liabilities | 2020 2019 Footnotes $m $m Deposits by banks 1 6,689 4,187 Customer accounts 1 10,681 6,999 Other debt securities in issue (Note 25) 1,582 1,404 Other liabilities – net short positions in securities 56,314 70,580 At 31 Dec 75,266 83,170 1 ‘Deposits by banks’ and ‘Customer accounts’ include repos, stock lending and other amounts. HSBC 2020 2019 Footnotes $m $m Deposits by banks and customer accounts 1, 2 19,176 17,660 Liabilities to customers under investment contracts 6,385 5,893 Debt securities in issue (Note 25) 121,034 130,364 Subordinated liabilities (Note 28) 10,844 10,130 Preferred securities (Note 28) — 419 At 31 Dec 157,439 164,466 1 Structured deposits placed at HSBC Bank USA are insured by the Federal Deposit Insurance Corporation, a US government agency, up to $250,000 per depositor. HSBC Holdings 2020 2019 $m $m Debt securities in issue (Note 25) 19,624 24,687 Subordinated liabilities (Note 28) 6,040 5,616 At 31 Dec 25,664 30,303 HSBC’s subordinated liabilities 2020 2019 $m $m At amortised cost 21,951 24,600 – subordinated liabilities 20,095 22,775 – preferred securities 1,856 1,825 Designated at fair value (Note 24) 10,844 10,549 – subordinated liabilities 10,844 10,130 – preferred securities — 419 At 31 Dec 32,795 35,149 Issued by HSBC subsidiaries 10,223 12,363 Issued by HSBC Holdings 22,572 22,786 HSBC’s subsidiaries subordinated liabilities in issue 2020 2019 Footnotes First call date Maturity date $m $m Additional tier 1 capital securities guaranteed by HSBC Holdings 1 $900m 10.176% non-cumulative step-up perpetual preferred securities, series 2 Jun 2030 900 900 900 900 Additional tier 1 capital securities guaranteed by HSBC Bank plc 1 £300m 5.862% non-cumulative step-up perpetual preferred securities 2 Apr 2020 — 420 £700m 5.844% non-cumulative step-up perpetual preferred securities Nov 2031 956 925 956 1,345 Tier 2 securities issued by HSBC Bank plc $750m Undated floating rate primary capital notes Jun 1990 750 750 $500m Undated floating rate primary capital notes Sep 1990 500 500 $300m Undated floating rate primary capital notes, series 3 Jun 1992 300 300 $300m 7.65% subordinated notes — May 2025 300 300 1,850 1,850 £300m 6.50% subordinated notes — Jul 2023 409 396 £350m 5.375% callable subordinated step-up notes 3 Nov 2025 Nov 2030 583 549 £500m 5.375% subordinated notes — Aug 2033 981 875 £225m 6.25% subordinated notes — Jan 2041 306 296 £600m 4.75% subordinated notes — Mar 2046 812 785 3,091 2,901 4,941 4,751 Tier 2 securities issued by The Hongkong and Shanghai Banking Corporation Ltd $400m Primary capital undated floating rate notes (third series) Jul 1991 400 400 400 400 Tier 2 securities issued by HSBC Bank Malaysia Berhad MYR500m 5.05% subordinated bonds 7 Nov 2022 Nov 2027 124 122 124 122 Tier 2 securities issued by HSBC USA Inc. 7 $750m 5.00% subordinated notes 8 — Sep 2020 — 748 $250m 7.20% subordinated debentures — Jul 2097 222 221 Other subordinated liabilities each less than $150m 200 202 422 1,171 Tier 2 securities issued by HSBC Bank USA, N.A. $1,250m 4.875% subordinated notes 8 — Aug 2020 — 1,246 $1,000m 5.875% subordinated notes 5 — Nov 2034 497 463 $750m 5.625% subordinated notes 5 — Aug 2035 533 496 $700m 7.00% subordinated notes — Jan 2039 700 700 1,730 2,905 Tier 2 securities issued by HSBC Finance Corporation $2,939m 6.676% senior subordinated notes 6,7 — Jan 2021 509 507 Tier 2 securities issued by HSBC Bank Canada Other subordinated liabilities each less than $150.00m Oct 1996 Nov 2083 9 26 9 26 Securities issued by other HSBC subsidiaries Other subordinated liabilities each less than $200m 4 232 236 Subordinated liabilities issued by HSBC subsidiaries at 31 Dec 10,223 12,363 1 See paragraph below, ‘Guaranteed by HSBC Holdings or HSBC Bank plc’. 2 HSBC Bank plc exercised the call option on the security in April 2020 and the security was subsequently redeemed. 3 The interest rate payable after November 2025 is the sum of the three-month sterling Libor plus 1.5 percentage points. 4 These securities are included in the capital base of HSBC, a subset of which are included in accordance with the grandfathering provisions under CRR II, with the exception of $109m in relation to securities which matured 31 December 2020, settlement expected in June 2021, which are no longer eligible for inclusion in the capital base of HSBC. 5 HSBC tendered for these securities in November 2019. The principal balance is $358m and $383m respectively. The original notional value of these securities are $1,000m and $750m respectively. 6 HSBC tendered for these securities in 2017. In January 2018, a further tender was conducted. The principal balance is $507m. The original notional of these securities is $2,939m. This instrument matured and settled in January 2021. 7 These securities are ineligible for inclusion in the capital base of HSBC. 8 These securities matured in 2020 and were redeemed. HSBC Holdings’ subordinated liabilities 2020 2019 $m $m At amortised cost 17,916 18,361 Designated at fair value (Note 24) 6,040 5,616 At 31 Dec 23,956 23,977 HSBC Holdings’ subordinated liabilities in issue First call Maturity 2020 2019 Footnotes date date $m $m Tier 2 securities issued by HSBC Holdings Amounts owed to third parties $2,000m 4.25% subordinated notes 2,3 — Mar 2024 2,151 2,076 $1,500m 4.25% subordinated notes 2 — Aug 2025 1,702 1,611 $1,500m 4.375% subordinated notes 2 — Nov 2026 1,736 1,626 $488m 7.625% subordinated notes 1 — May 2032 541 545 $222m 7.35% subordinated notes 1 — Nov 2032 243 245 $2,000m 6.50% subordinated notes 1 — May 2036 2,034 2,036 $2,500m 6.50% subordinated notes 1 — Sep 2037 3,033 2,738 $1,500m 6.80% subordinated notes 1 — Jun 2038 1,490 1,490 $1,500m 5.25% subordinated notes 2 — Mar 2044 2,092 1,886 £650m 5.75% subordinated notes 2 — Dec 2027 1,130 1,059 £650m 6.75% subordinated notes 2 — Sep 2028 884 855 £750m 7.00% subordinated notes 2 — Apr 2038 1,157 1,064 £900m 6.00% subordinated notes 2 — Mar 2040 1,483 1,294 €1,500m 3.0% subordinated notes 2 — Jun 2025 1,916 1,736 €1,000m 3.125% subordinated notes 2 — Jun 2028 1,472 1,321 23,064 21,582 Amounts owed to HSBC undertakings $900m 10.176% subordinated step-up cumulative notes Jun 2030 Jun 2040 892 892 892 892 Other securities issued by HSBC Holdings Amounts owed to third parties $1,500m 5.625% contingent convertible securities 4 Nov 2019 Jan 2020 — 1,503 — 1,503 At 31 Dec 23,956 23,977 1 Amounts owed to third parties represent securities included in the capital base of HSBC as tier 2 securities in accordance with the grandfathering provisions under CRR II. Prior period figures are included on a CRD IV basis. 2 These securities are included in the capital base of HSBC as fully CRR II-compliant tier 2 securities on an end point basis. 3 These subordinated notes are measured at amortised cost in HSBC Holdings, where the interest rate risk is hedged using a fair value hedge, while they are measured at fair value in the Group. 4 This security was called by HSBC Holdings on 22 November 2019 and was redeemed and cancelled on 17 January 2020. Between the date of exercise of the call option and the redemption, this security was considered to be a subordinated liability. Refer to Note 31 for further details on additional tier 1 securities. |
Maturity analysis of assets, _2
Maturity analysis of assets, liabilities and off-balance sheet commitments (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Financial Instruments [Abstract] | |
Disclosure of maturity analysis of assets, liabilities and off-balance sheet commitments | HSBC Maturity analysis of assets, liabilities and off-balance sheet commitments Due not Due over Due over Due over Due over Due over Due over Due over Total $m $m $m $m $m $m $m $m $m Financial assets Cash and balances at central banks 304,481 — — — — — — — 304,481 Items in the course of collection from other banks 4,094 — — — — — — — 4,094 Hong Kong Government certificates of indebtedness 40,420 — — — — — — — 40,420 Trading assets 228,434 1,778 458 135 67 644 474 — 231,990 Financial assets designated or otherwise mandatorily measured at fair value 3,061 240 466 262 454 1,424 1,992 37,654 45,553 Derivatives 306,561 15 12 14 14 441 424 245 307,726 Loans and advances to banks 51,652 11,283 5,640 3,068 2,284 4,059 3,359 271 81,616 Loans and advances to customers 172,306 70,746 65,838 44,392 38,606 112,440 206,448 327,211 1,037,987 – personal 51,711 9,645 7,918 7,270 7,033 26,318 70,447 275,736 456,078 – corporate and commercial 101,684 55,009 51,755 31,529 28,553 76,225 125,393 47,446 517,594 – financial 18,911 6,092 6,165 5,593 3,020 9,897 10,608 4,029 64,315 Reverse repurchase agreements – non-trading 157,234 44,658 16,655 5,113 1,324 3,058 2,586 — 230,628 Financial investments 47,270 77,450 44,255 14,523 24,112 48,741 100,007 134,335 490,693 Accrued income and other financial assets 93,118 5,951 2,743 475 458 267 444 2,107 105,563 Financial assets at 31 Dec 2020 1,408,631 212,121 136,067 67,982 67,319 171,074 315,734 501,823 2,880,751 Non-financial assets — — — — — — — 103,413 103,413 Total assets at 31 Dec 2020 1,408,631 212,121 136,067 67,982 67,319 171,074 315,734 605,236 2,984,164 Off-balance sheet commitments received Loan and other credit-related commitments 60,849 — — — — — — — 60,849 Financial liabilities Hong Kong currency notes in circulation 40,420 — — — — — — — 40,420 Deposits by banks 60,973 1,396 714 695 197 718 16,757 630 82,080 Customer accounts 1 1,533,595 61,376 22,568 9,375 8,418 4,467 2,859 122 1,642,780 – personal 766,631 32,429 15,511 6,276 5,825 3,591 1,976 39 832,278 – corporate and commercial 588,887 22,856 5,963 2,966 2,058 627 777 37 624,171 – financial 178,077 6,091 1,094 133 535 249 106 46 186,331 Repurchase agreements – non-trading 102,633 3,979 2,165 386 675 16 1,035 1,012 111,901 Items in the course of transmission to other banks 4,343 — — — — — — — 4,343 Trading liabilities 70,799 3,377 400 143 185 289 72 1 75,266 Financial liabilities designated at 18,434 7,333 6,973 6,775 6,593 14,182 40,510 56,639 157,439 – debt securities in issue: covered bonds — — — — — 1,239 2,918 — 4,157 – debt securities in issue: unsecured 10,762 4,470 5,522 5,604 5,530 10,455 31,710 42,825 116,878 – subordinated liabilities and preferred securities — — — — — — 3,912 6,932 10,844 – other 2 7,672 2,863 1,451 1,171 1,063 2,488 1,970 6,882 25,560 Derivatives 300,902 264 198 38 55 237 726 581 303,001 Debt securities in issue 6,552 12,329 14,964 9,764 3,878 9,215 16,618 22,172 95,492 – covered bonds — — 28 — 750 1,275 999 — 3,052 – otherwise secured 1,094 1,585 1,001 1,000 — 274 1,640 1,590 8,184 – unsecured 5,458 10,744 13,935 8,764 3,128 7,666 13,979 20,582 84,256 Accruals and other financial liabilities 96,821 9,794 3,886 692 1,174 1,742 3,179 3,053 120,341 Subordinated liabilities 619 — 237 — 12 12 2,658 18,413 21,951 Total financial liabilities at 31 Dec 2020 2,236,091 99,848 52,105 27,868 21,187 30,878 84,414 102,623 2,655,014 Non-financial liabilities — — — — — — — 124,155 124,155 Total liabilities at 31 Dec 2020 2,236,091 99,848 52,105 27,868 21,187 30,878 84,414 226,778 2,779,169 Off-balance sheet commitments given Loan and other credit-related commitments 842,974 435 172 243 296 180 299 171 844,770 – personal 235,606 172 27 47 115 125 288 171 236,551 – corporate and commercial 471,410 250 138 194 178 37 11 — 472,218 – financial 135,958 13 7 2 3 18 — — 136,001 Maturity analysis of assets, liabilities and off-balance sheet commitments (continued) Due not Due over Due over Due over Due over Due over Due over Due over Total $m $m $m $m $m $m $m $m $m Financial assets Cash and balances at central banks 154,099 — — — — — — — 154,099 Items in the course of collection from other banks 4,956 — — — — — — — 4,956 Hong Kong Government certificates of indebtedness 38,380 — — — — — — — 38,380 Trading assets 252,009 644 412 62 452 152 540 — 254,271 Financial assets designated at fair value 4,846 74 381 200 422 780 2,356 34,568 43,627 Derivatives 241,941 150 24 27 22 112 294 425 242,995 Loans and advances to banks 41,554 7,826 4,877 2,592 2,859 6,848 2,005 642 69,203 Loans and advances to customers 190,675 82,379 61,254 36,005 36,755 106,203 227,811 295,661 1,036,743 – personal 51,893 14,547 8,562 7,245 6,931 22,923 66,761 252,275 431,137 – corporate and commercial 118,585 61,629 45,924 25,006 25,069 71,751 147,139 39,958 535,061 – financial 20,197 6,203 6,768 3,754 4,755 11,529 13,911 3,428 70,545 Reverse repurchase agreements 164,741 38,997 17,933 8,226 6,305 2,298 2,362 — 240,862 Financial investments 36,128 64,472 35,795 17,485 18,202 48,427 90,193 132,610 443,312 Accrued income and other financial assets 80,661 5,544 2,532 915 495 432 363 2,037 92,979 Financial assets at 31 Dec 2019 1,209,990 200,086 123,208 65,512 65,512 165,252 325,924 465,943 2,621,427 Non-financial assets — — — — — — — 93,725 93,725 Total assets at 31 Dec 2019 1,209,990 200,086 123,208 65,512 65,512 165,252 325,924 559,668 2,715,152 Off-balance sheet commitments received Loan and other credit-related commitments 63,199 — — — — — — — 63,199 Financial liabilities Hong Kong currency notes in circulation 38,380 — — — — — — — 38,380 Deposits by banks 46,397 4,167 2,773 454 844 2,455 876 1,056 59,022 Customer accounts 1 1,287,358 81,038 38,343 11,530 11,342 5,275 4,075 154 1,439,115 – personal 646,843 49,405 29,320 8,484 6,852 3,631 2,646 71 747,252 – corporate and commercial 479,763 24,214 7,162 2,621 3,009 1,119 1,388 41 519,317 – financial 160,752 7,419 1,861 425 1,481 525 41 42 172,546 Repurchase agreements – non-trading 132,042 3,402 1,579 1,882 59 354 2 1,024 140,344 Items in the course of transmission to other banks 4,817 — — — — — — — 4,817 Trading liabilities 82,130 209 265 148 102 287 29 — 83,170 Financial liabilities designated at fair value 12,844 4,667 4,236 4,552 5,196 26,081 43,534 63,356 164,466 – debt securities in issue: covered bonds — — — — 1,139 — 2,663 1,159 4,961 – debt securities in issue: unsecured 8,884 2,046 2,946 3,757 3,030 22,950 34,753 47,036 125,402 – subordinated liabilities and preferred securities 23 — — — — — 2,131 8,396 10,550 – other 3,937 2,621 1,290 795 1,027 3,131 3,987 6,765 23,553 Derivatives 237,901 105 73 10 18 68 540 782 239,497 Debt securities in issue 8,183 17,374 12,799 13,152 11,382 14,572 20,048 7,045 104,555 – covered bonds — — — — — 749 998 — 1,747 – otherwise secured 2,015 2 248 161 — 219 958 1,663 5,266 – unsecured 6,168 17,372 12,551 12,991 11,382 13,604 18,092 5,382 97,542 Accruals and other financial liabilities 87,796 9,078 3,914 1,244 2,058 1,592 2,823 2,890 111,395 Subordinated liabilities 1,502 — 22 1,993 100 755 424 19,804 24,600 Total financial liabilities at 31 Dec 2019 1,939,350 120,040 64,004 34,965 31,101 51,439 72,351 96,111 2,409,361 Non-financial liabilities — — — — — — — 113,123 113,123 Total liabilities at 31 Dec 2019 1,939,350 120,040 64,004 34,965 31,101 51,439 72,351 209,234 2,522,484 Off-balance sheet commitments given Loan and other credit-related commitments 794,336 600 590 313 551 442 458 318 797,608 – personal 221,952 40 39 56 167 208 392 299 223,153 – corporate and commercial 460,569 117 96 52 381 218 66 19 461,518 – financial 111,815 443 455 205 3 16 — — 112,937 1 ‘Customer accounts’ includes $463,524m (2019: $408,090m) insured by guarantee schemes. HSBC Holdings Maturity analysis of assets, liabilities and off-balance sheet commitments (continued) Due not Due over Due over Due over Due over Due over Due over Due over Total $m $m $m $m $m $m $m $m $m Financial assets Cash at bank and in hand: – balances with HSBC undertakings 2,913 — — — — — — — 2,913 Derivatives 1,473 — 5 — — 9 1,131 2,080 4,698 Loans and advances to HSBC undertakings — 600 120 — — 312 6,027 3,384 10,443 Financial assets with HSBC undertakings designated and otherwise mandatorily measured at fair value — 451 — — — 4,320 23,203 37,279 65,253 Financial investments 3,701 3,769 2,924 799 3,528 2,764 — — 17,485 Accrued income and other financial assets 1,015 275 100 33 22 — — — 1,445 Total financial assets at 31 Dec 2020 9,102 5,095 3,149 832 3,550 7,405 30,361 42,743 102,237 Non-financial assets — — — — — — — 160,936 160,936 Total assets at 31 Dec 2020 9,102 5,095 3,149 832 3,550 7,405 30,361 203,679 263,173 Financial liabilities Amounts owed to HSBC undertakings — 330 — — — — — — 330 Financial liabilities designated at fair value — 984 859 — — 3,088 3,810 16,923 25,664 – debt securities in issue — 984 859 — — 3,088 2,108 12,585 19,624 – subordinated liabilities and preferred securities — — — — — — 1,702 4,338 6,040 Derivatives 3,052 — — — — — — 8 3,060 Debt securities in issue — 503 1,621 563 — 2,186 24,489 34,667 64,029 Accruals and other financial liabilities 3,769 689 301 57 12 — 1 36 4,865 Subordinated liabilities — — — — — — 4,067 13,849 17,916 31 Dec 2020 6,821 2,506 2,781 620 12 5,274 32,367 65,483 115,864 Non-financial liabilities — — — — — — — 509 509 Total liabilities at 31 Dec 2020 6,821 2,506 2,781 620 12 5,274 32,367 65,992 116,373 Off-balance sheet commitments given Undrawn formal standby facilities, credit lines and other commitments to lend — — — — — — — — — Financial assets Cash at bank and in hand: – balances with HSBC undertakings 2,382 — — — — — — — 2,382 Derivatives 596 — — — — — 230 1,176 2,002 Loans and advances to HSBC undertakings 102 672 120 25 — 600 1,909 6,790 10,218 Loans and advances to HSBC undertakings designated at fair value — — — — — 458 24,845 36,661 61,964 Financial investments in HSBC undertakings 2,754 3,493 1,873 2,251 2,721 3,014 — — 16,106 Accrued income and other financial assets 93 277 97 48 16 12 — — 543 Total financial assets at 31 Dec 2019 5,927 4,442 2,090 2,324 2,737 4,084 26,984 44,627 93,215 Non-financial assets — — — — — — — 162,025 162,025 Total assets at 31 Dec 2019 5,927 4,442 2,090 2,324 2,737 4,084 26,984 206,652 255,240 Financial liabilities Amounts owed to HSBC undertakings — 464 — — — — — — 464 Financial liabilities designated at fair value — — — — — 5,651 6,710 17,942 30,303 – debt securities in issue — — — — — 5,651 6,710 12,326 24,687 – subordinated liabilities and preferred securities — — — — — — — 5,616 5,616 Derivatives 1,838 — — — — 20 85 78 2,021 Debt securities in issue — — — — — 10,134 23,786 22,924 56,844 Accruals and other financial liabilities 900 574 303 55 10 — — 35 1,877 Subordinated liabilities 1,503 — — — — — 2,076 14,782 18,361 Total financial liabilities at 31 Dec 2019 4,241 1,038 303 55 10 15,805 32,657 55,761 109,870 Non-financial liabilities — — — — — — — 326 326 Total liabilities at 31 Dec 2019 4,241 1,038 303 55 10 15,805 32,657 56,087 110,196 Off-balance sheet commitments given Undrawn formal standby facilities, credit lines and other commitments to lend — — — — — — — — — |
Disclosure of cash flows payable under financial liabilities by remaining contractual maturities | Cash flows payable by HSBC under financial liabilities by remaining contractual maturities Due not more Due over Due over Due over Due over 5 years Total $m $m $m $m $m $m Deposits by banks 61,001 1,442 1,639 17,352 632 82,066 Customer accounts 1,530,584 64,809 40,755 7,720 153 1,644,021 Repurchase agreements – non-trading 102,664 3,984 3,257 1,058 1,017 111,980 Trading liabilities 75,266 — — — — 75,266 Financial liabilities designated at fair value 1 18,815 7,556 19,243 59,835 55,475 160,924 Derivatives 300,158 356 579 1,830 2,128 305,051 Debt securities in issue 6,551 12,709 29,520 28,787 24,075 101,642 Subordinated liabilities 739 170 1,102 7,024 28,812 37,847 Other financial liabilities 140,094 9,120 5,113 5,030 2,887 162,244 2,235,872 100,146 101,208 128,636 115,179 2,681,041 Loan and other credit-related commitments 842,945 434 740 480 171 844,770 Financial guarantees 2 18,200 13 93 37 41 18,384 At 31 Dec 2020 3,097,017 100,593 102,041 129,153 115,391 3,544,195 Proportion of cash flows payable in period 87% 3% 3% 4% 3% Deposits by banks 46,471 4,167 4,227 3,371 1,084 59,320 Customer accounts 1,288,577 81,037 62,105 9,900 191 1,441,810 Repurchase agreements – non-trading 132,156 3,403 3,565 368 1,036 140,528 Trading liabilities 83,170 — — — — 83,170 Financial liabilities designated at fair value 13,447 4,666 14,747 76,155 68,045 177,060 Derivatives 237,897 105 522 1,076 1,691 241,291 Debt securities in issue 8,757 17,374 38,423 36,584 8,177 109,315 Subordinated liabilities 1,847 — 2,908 5,197 27,892 37,844 Other financial liabilities 127,898 9,079 6,792 5,637 2,992 152,398 1,940,220 119,831 133,289 138,288 111,108 2,442,736 Loan and other credit-related commitments 795,243 601 561 886 317 797,608 Financial guarantees 2 20,007 37 102 68 — 20,214 At 31 Dec 2019 2,755,470 120,469 133,952 139,242 111,425 3,260,558 Proportion of cash flows payable in period 85% 4% 4% 4% 3% 1 In 2020, cash prime brokerage balances of $3,889m have been presented as a single balance, resulting in a reclassification from customer accounts at amortised cost to provide more relevant information on the effect of these transactions on the Group’s financial position. Comparatives have not been re-presented. Cash flows payable by HSBC Holdings under financial liabilities by remaining contractual maturities Due not more Due over 1 Due over 3 Due over 1 Due over Total Footnotes $m $m $m $m $m $m Amounts owed to HSBC undertakings — 330 — — — 330 Financial liabilities designated at fair value 70 1,109 1,412 9,110 16,104 27,805 Derivatives 3,085 — 2 — — 3,087 Debt securities in issue 135 760 3,354 31,567 37,103 72,919 Subordinated liabilities 82 156 726 7,513 21,552 30,029 Other financial liabilities 3,769 690 370 — 36 4,865 7,141 3,045 5,864 48,190 74,795 139,035 Loan commitments — — — — — — Financial guarantees 1 13,787 — — — — 13,787 At 31 Dec 2020 20,928 3,045 5,864 48,190 74,795 152,822 Amounts owed to HSBC undertakings — 464 — — — 464 Financial liabilities designated at fair value 88 168 784 14,776 18,184 34,000 Derivatives 1,838 — — 105 78 2,021 Debt securities in issue 128 244 1,137 38,690 25,310 65,509 Subordinated liabilities 1,588 154 718 5,743 21,533 29,736 Other financial liabilities 956 519 365 — — 1,840 4,598 1,549 3,004 59,314 65,105 133,570 Loan commitments — — — — — — Financial guarantees 1 11,061 — — — — 11,061 At 31 Dec 2019 15,659 1,549 3,004 59,314 65,105 144,631 1 Excludes performance guarantee contracts to which the impairment requirements in IFRS 9 are not applied. |
Disclosure of cash flows payable under derivative financial liabilities by remaining contractual maturities | Cash flows payable by HSBC under financial liabilities by remaining contractual maturities Due not more Due over Due over Due over Due over 5 years Total $m $m $m $m $m $m Deposits by banks 61,001 1,442 1,639 17,352 632 82,066 Customer accounts 1,530,584 64,809 40,755 7,720 153 1,644,021 Repurchase agreements – non-trading 102,664 3,984 3,257 1,058 1,017 111,980 Trading liabilities 75,266 — — — — 75,266 Financial liabilities designated at fair value 1 18,815 7,556 19,243 59,835 55,475 160,924 Derivatives 300,158 356 579 1,830 2,128 305,051 Debt securities in issue 6,551 12,709 29,520 28,787 24,075 101,642 Subordinated liabilities 739 170 1,102 7,024 28,812 37,847 Other financial liabilities 140,094 9,120 5,113 5,030 2,887 162,244 2,235,872 100,146 101,208 128,636 115,179 2,681,041 Loan and other credit-related commitments 842,945 434 740 480 171 844,770 Financial guarantees 2 18,200 13 93 37 41 18,384 At 31 Dec 2020 3,097,017 100,593 102,041 129,153 115,391 3,544,195 Proportion of cash flows payable in period 87% 3% 3% 4% 3% Deposits by banks 46,471 4,167 4,227 3,371 1,084 59,320 Customer accounts 1,288,577 81,037 62,105 9,900 191 1,441,810 Repurchase agreements – non-trading 132,156 3,403 3,565 368 1,036 140,528 Trading liabilities 83,170 — — — — 83,170 Financial liabilities designated at fair value 13,447 4,666 14,747 76,155 68,045 177,060 Derivatives 237,897 105 522 1,076 1,691 241,291 Debt securities in issue 8,757 17,374 38,423 36,584 8,177 109,315 Subordinated liabilities 1,847 — 2,908 5,197 27,892 37,844 Other financial liabilities 127,898 9,079 6,792 5,637 2,992 152,398 1,940,220 119,831 133,289 138,288 111,108 2,442,736 Loan and other credit-related commitments 795,243 601 561 886 317 797,608 Financial guarantees 2 20,007 37 102 68 — 20,214 At 31 Dec 2019 2,755,470 120,469 133,952 139,242 111,425 3,260,558 Proportion of cash flows payable in period 85% 4% 4% 4% 3% 1 In 2020, cash prime brokerage balances of $3,889m have been presented as a single balance, resulting in a reclassification from customer accounts at amortised cost to provide more relevant information on the effect of these transactions on the Group’s financial position. Comparatives have not been re-presented. Cash flows payable by HSBC Holdings under financial liabilities by remaining contractual maturities Due not more Due over 1 Due over 3 Due over 1 Due over Total Footnotes $m $m $m $m $m $m Amounts owed to HSBC undertakings — 330 — — — 330 Financial liabilities designated at fair value 70 1,109 1,412 9,110 16,104 27,805 Derivatives 3,085 — 2 — — 3,087 Debt securities in issue 135 760 3,354 31,567 37,103 72,919 Subordinated liabilities 82 156 726 7,513 21,552 30,029 Other financial liabilities 3,769 690 370 — 36 4,865 7,141 3,045 5,864 48,190 74,795 139,035 Loan commitments — — — — — — Financial guarantees 1 13,787 — — — — 13,787 At 31 Dec 2020 20,928 3,045 5,864 48,190 74,795 152,822 Amounts owed to HSBC undertakings — 464 — — — 464 Financial liabilities designated at fair value 88 168 784 14,776 18,184 34,000 Derivatives 1,838 — — 105 78 2,021 Debt securities in issue 128 244 1,137 38,690 25,310 65,509 Subordinated liabilities 1,588 154 718 5,743 21,533 29,736 Other financial liabilities 956 519 365 — — 1,840 4,598 1,549 3,004 59,314 65,105 133,570 Loan commitments — — — — — — Financial guarantees 1 11,061 — — — — 11,061 At 31 Dec 2019 15,659 1,549 3,004 59,314 65,105 144,631 1 Excludes performance guarantee contracts to which the impairment requirements in IFRS 9 are not applied. |
Offsetting of financial asset_2
Offsetting of financial assets and financial liabilities (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Financial Instruments [Abstract] | |
Disclosure of offsetting of financial assets and financial liabilities | Offsetting of financial assets and financial liabilities Amounts subject to enforceable netting arrangements Amounts not subject to enforceable netting arrangements 5 Total Amounts not set off in the Gross Amounts Net Financial Non-cash Cash Net Footnotes $m $m $m $m $m $m $m $m $m Financial assets Derivatives (Note 15) 1 368,057 (69,103) 298,954 (230,758) (13,766) (48,154) 6,276 8,772 307,726 Reverse repos, stock borrowing and similar agreements classified as: 2 – trading assets 21,204 (461) 20,743 (709) (20,030) — 4 1,534 22,277 – non-trading assets 318,424 (115,678) 202,746 (13,936) (188,646) (73) 91 28,258 231,004 Loans and advances to customers 3 30,983 (10,882) 20,101 (17,031) — — 3,070 428 20,529 At 31 Dec 2020 738,668 (196,124) 542,544 (262,434) (222,442) (48,227) 9,441 38,992 581,536 Derivatives (Note 15) 1 277,261 (41,739) 235,522 (171,371) (13,095) (47,404) 3,652 7,473 242,995 Reverse repos, stock borrowing and similar agreements classified as: 2 – trading assets 21,465 (280) 21,185 (1,553) (19,630) — 2 165 21,350 – non-trading assets 348,561 (134,772) 213,789 (28,826) (184,495) (189) 279 27,549 241,338 Loans and advances to customers 3 33,039 (10,128) 22,911 (18,893) — — 4,018 735 23,646 At 31 Dec 2019 680,326 (186,919) 493,407 (220,643) (217,220) (47,593) 7,951 35,922 529,329 Financial liabilities Derivatives (Note 15) 1 364,121 (69,103) 295,018 (230,758) (21,387) (37,343) 5,530 7,983 303,001 Repos, stock lending and similar agreements classified as: 2 – trading liabilities 16,626 (461) 16,165 (709) (15,456) — — 159 16,324 – non-trading liabilities 200,999 (115,678) 85,321 (13,936) (71,142) (215) 28 26,580 111,901 Customer accounts 4 41,177 (10,882) 30,295 (17,031) — — 13,264 13 30,308 At 31 Dec 2020 622,923 (196,124) 426,799 (262,434) (107,985) (37,558) 18,822 34,735 461,534 Derivatives (Note 15) 1 275,286 (41,739) 233,547 (171,371) (20,137) (37,844) 4,195 5,950 239,497 Repos, stock lending and similar agreements classified as: 2 – trading liabilities 10,494 (280) 10,214 (1,553) (8,656) — 5 46 10,260 – non-trading liabilities 232,675 (134,772) 97,903 (28,826) (68,638) (357) 82 42,441 140,344 Customer accounts 4 36,750 (10,128) 26,622 (18,893) — — 7,729 31 26,653 At 31 Dec 2019 555,205 (186,919) 368,286 (220,643) (97,431) (38,201) 12,011 48,468 416,754 1 At 31 December 2020, the amount of cash margin received that had been offset against the gross derivatives assets was $7,899m (2019: $2,350m). The amount of cash margin paid that had been offset against the gross derivatives liabilities was $17,955m (2019: $8,303m). 2 For the amount of repos, reverse repos, stock lending, stock borrowing and similar agreements recognised on the balance sheet within ‘Trading assets’ $22,277m (2019: $21,350m) and ‘Trading liabilities’ $16,324m (2019: $10,260m), see the ‘Funding sources and uses’ table on page 220. 3 At 31 December 2020, the total amount of ‘Loans and advances to customers’ was $1,037,987m (2019: $1,036,743m), of which $20,101m (2019: $22,911m) was subject to offsetting. 4 At 31 December 2020, the total amount of ‘Customer accounts’ was $1,642,780m (2019: $1,439,115m), of which $30,295m (2019: $26,622m) was subject to offsetting. 5 These exposures continue to be secured by financial collateral, but we may not have sought or been able to obtain a legal opinion evidencing enforceability of the right of offset. |
Called up share capital and o_2
Called up share capital and other equity instruments (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Share Capital, Reserves And Other Equity Interest [Abstract] | |
Disclosure of issued capital and share premium | HSBC Holdings ordinary shares of $0.50 each, issued and fully paid 2020 2019 Footnotes Number $m Number $m At 1 Jan 20,638,524,545 10,319 20,360,841,496 10,180 Shares issued under HSBC employee share plans 55,096,555 28 71,588,032 36 Shares issued in lieu of dividends — — 341,872,011 171 Less: Shares repurchased and cancelled — — (135,776,994) (68) At 31 Dec 1 20,693,621,100 10,347 20,638,524,545 10,319 HSBC Holdings 6.2% non-cumulative US dollar preference shares, Series A 2020 2019 Footnotes Number $m Number $m At 1 Jan and 31 Dec 2 1,450,000 — 1,450,000 — HSBC Holdings share premium 2020 2019 $m $m At 31 Dec 14,277 13,959 Total called up share capital and share premium 2020 2019 $m $m At 31 Dec 24,624 24,278 1 All HSBC Holdings ordinary shares in issue, excluding 325,273,407 shares held in treasury, confer identical rights, including in respect of capital, dividends and voting. 2 In 2019 this security was included in the capital base of HSBC as additional tier 1 capital in accordance with the CRR II rules, by virtue of the application of grandfathering provisions. This security was called by HSBC Holdings on 10 December 2020 and was redeemed and cancelled on 13 January 2021. Between the date of exercise of the call option and the redemption, this security was considered as an other liability. |
Disclosure of other equity instruments | HSBC’s additional tier 1 capital – contingent convertible securities in issue which are accounted for in equity First call 2020 2019 Footnotes $m $m $1,500m 5.625% perpetual subordinated contingent convertible securities 1 Nov 2019 — 1,494 $2,000m 6.875% perpetual subordinated contingent convertible securities Jun 2021 2,000 1,998 $2,250m 6.375% perpetual subordinated contingent convertible securities Sep 2024 2,250 2,244 $2,450m 6.375% perpetual subordinated contingent convertible securities Mar 2025 2,450 2,460 $3,000m 6.000% perpetual subordinated contingent convertible securities May 2027 3,000 2,997 $2,350m 6.250% perpetual subordinated contingent convertible securities Mar 2023 2,350 2,347 $1,800m 6.500% perpetual subordinated contingent convertible securities Mar 2028 1,800 1,798 $1,500m 4.600% perpetual subordinated contingent convertible securities 2 Jun 2031 1,500 — €1,500m 5.250% perpetual subordinated contingent convertible securities Sep 2022 1,945 1,943 €1,000m 6.000% perpetual subordinated contingent convertible securities Sep 2023 1,123 1,120 €1,250m 4.750% perpetual subordinated contingent convertible securities Jul 2029 1,422 1,420 £1,000m 5.875% perpetual subordinated contingent convertible securities Sep 2026 1,301 1,299 SGD1,000m 4.700% perpetual subordinated contingent convertible securities Jun 2022 723 723 SGD750m 5.000% perpetual subordinated contingent convertible securities Sep 2023 550 549 At 31 Dec 22,414 22,392 1 This security was called by HSBC Holdings on 22 November 2019 and was redeemed and cancelled on 17 January 2020. Between the date of exercise of the call option and the redemption, this security was considered to be a subordinated liability. See Note 28. 2 This security was issued by HSBC Holdings on 17 December 2020. The first call date commences six calendar months prior to the reset date of |
Disclosure of range of exercise prices of outstanding share options | Aggregate options outstanding under these plans 31 Dec 2020 31 Dec 2019 Number of HSBC Holdings ordinary shares Usual period of exercise Exercise price Number of Usual period of exercise Exercise price 130,952,539 2019 to 2026 £2.6270–£5.9640 65,060,681 2018 to 2025 £4.0472–£5.9640 |
Contingent liabilities, contr_2
Contingent liabilities, contractual commitments and guarantees (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Other Provisions, Contingent Liabilities And Contingent Assets [Abstract] | |
Disclosure of Contingent Liabilities, Contractual Commitments and Guarantees | HSBC HSBC Holdings 1 2020 2019 2020 2019 Footnotes $m $m $m $m Guarantees and other contingent liabilities: – financial guarantees 18,384 20,214 13,787 11,061 – performance and other guarantees 78,114 75,933 — — – other contingent liabilities 1,219 1,576 119 289 At 31 Dec 97,717 97,723 13,906 11,350 Commitments: 2 – documentary credits and short-term trade-related transactions 7,178 6,316 — — – forward asset purchases and forward deposits placed 66,506 56,326 — — – standby facilities, credit lines and other commitments to lend 771,086 734,966 — — At 31 Dec 844,770 797,608 — — 1 Guarantees by HSBC Holdings are all in favour of other Group entities. |
Finance lease receivables (Tabl
Finance lease receivables (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Leases1 [Abstract] | |
Disclosure of Lease Receivables | 2020 2019 Total future Unearned Present Total future minimum payments Unearned finance income Present value $m $m $m $m $m $m Lease receivables: No later than one year 3,108 (257) 2,851 1,674 (157) 1,517 One to two years 2,476 (196) 2,280 1,634 (155) 1,479 Two to three years 2,055 (143) 1,912 1,889 (151) 1,738 Three to four years 1,380 (109) 1,271 1,704 (136) 1,568 Four to five years 787 (80) 707 1,558 (132) 1,426 Later than one year and no later than five years 6,698 (528) 6,170 6,785 (574) 6,211 Later than five years 4,221 (451) 3,770 6,136 (614) 5,522 At 31 Dec 14,027 (1,236) 12,791 14,595 (1,345) 13,250 |
Related party transactions (Tab
Related party transactions (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Related Party [Abstract] | |
Disclosure of compensation of key management personnel | The following table shows the total fees and benefits of non-executive Directors for 2020, together with comparative figures for 2019. Fees and benefits (Audited) Fees 1 Benefits 2 Total (£000) Footnotes 2020 2019 2020 2019 2020 2019 Kathleen Casey (retired on 24 April 2020) 3,4 78 223 27 9 105 232 Laura Cha 5 587 298 — — 587 298 Henri de Castries 202 194 1 4 203 198 James Forese 6 160 — — — 160 — Steven Guggenheimer 7 134 — — — 134 — Irene Lee 8 546 454 — 3 546 457 José Antonio Meade Kuribreña 202 157 4 2 206 159 Heidi Miller 9 632 625 7 2 639 627 Eileen Murray 10 120 — — — 120 — David Nish 11 480 230 8 16 488 246 Sir Jonathan Symonds (retired on 18 February 2020) 86 638 20 21 106 659 Jackson Tai 12 355 398 12 57 367 455 Mark Tucker 13 1,500 1,500 52 231 1,552 1,731 Pauline van der Meer Mohr 14 312 265 2 8 314 273 Total (£000) 5,394 4,982 133 353 5,527 5,335 Total ($000) 6,919 6,390 171 453 7,090 6,843 1 The Directors' remuneration policy was approved at the 2019 AGM and the new fees became effective from 13 April 2019. Fees include a travel allowance of £4,000 for non-UK based non-executive Directors and for all non-executive Directors effective from 1 June 2019. Given the travel restrictions in place, the Board was unable to travel to attend meetings in person. Therefore, the travel allowance available to all non-executive Directors was pro-rated to reflect the travel required of the Board during 2020. 2 Benefits include taxable expenses such as accommodation, travel and subsistence relating to attendance at Board and other meetings at HSBC Holdings' registered offices. Amounts disclosed have been grossed up using a tax rate of 45%, where relevant. 3 Appointed as a member of the Group Risk Committee on 17 January 2020. 4 Stepped down as a member of the Financial System Vulnerabilities Committee on 17 January 2020 when the Committee was demised. 5 Includes fees of £423,800 (2019: £104,000) for her role as non-executive Chair and member of the Nomination Committee of The Hongkong and Shanghai Banking Corporation. Following approval of the non-executive Chair fee by the Group Remuneration Committee in 2020, Laura also received a pro-rated additional Chair fee of HK$201,639 paid in respect of the period from 6 December to 31 December 2019. 6 Appointed to the Board and a member of the Group Audit Committee, Group Remuneration Committee and Nomination & Corporate Governance Committee on 1 May 2020. 7 Appointed to the Board and as a member of the Group Risk Committee and Nomination & Corporate Governance Committee on 1 May 2020. 8 Includes fees of £344,000 (2019: £260,000) in relation to her roles as a Director, Remuneration Committee Chair, Audit Committee member and Risk Committee member of The Hongkong and Shanghai Banking Corporation Limited. Fees in relation to her role as a Director, Risk Committee Chair and Audit Committee member, and from 28 December 2020 as a member of the Nomination Committee, of Hang Seng Bank Limited. 9 Includes fees of £430,000 (2019: £431,000) in relation to her role as Chair of HSBC North America Holdings Inc. 10 Appointed to the Board and as member of the Group Audit Committee, Group Risk Committee and Nomination & Corporate Governance Committee on 1 July 2020. 11 Appointed as Senior Independent Director, Chair of the Group Audit Committee and member of the Group Risk Committee on 18 February 2020. 12 Stepped down as Chair of the Financial System Vulnerabilities Committee on 17 January 2020 when the Committee was demised. 13 The Group Chairman donated 100% of his 2020 fee to charities in the UK and Hong Kong supporting vulnerable people and in the local response to Covid-19. 14 Appointed as a member of the Group Audit Committee on 19 February 2020. Shares Shareholding guidelines (number of shares) Share interests (number of shares) Kathleen Casey (retired on 24 April 2020) 15,000 15,125 Laura Cha 15,000 16,200 Henri de Castries 15,000 19,251 James Forese (appointed to the Board on 1 May 2020) 15,000 115,000 Steven Guggenheimer (appointed to the Board on 1 May 2020) 15,000 15,000 Irene Lee 15,000 11,904 José Antonio Meade Kuribreña 15,000 15,000 Heidi Miller 15,000 15,700 Eileen Murray (appointed to the Board on 1 July 2020) 15,000 75,000 David Nish 15,000 50,000 Sir Jonathan Symonds (retired on 18 February 2020) 15,000 43,821 Jackson Tai 15,000 66,515 Mark Tucker 15,000 307,352 Pauline van der Meer Mohr 15,000 15,000 Compensation of Key Management Personnel 2020 2019 2018 $m $m $m Short-term employee benefits 39 64 52 Other long-term employee benefits 5 8 6 Share-based payments 20 27 34 Year ended 31 Dec 64 99 92 |
Disclosure of shareholdings, options and other securities of key management personnel | Shareholdings, options and other securities of Key Management Personnel 2020 2019 (000s) (000s) Number of options held over HSBC Holdings ordinary shares under employee share plans 27 18 Number of HSBC Holdings ordinary shares held beneficially and non-beneficially 11,916 15,546 At 31 Dec 11,943 15,564 |
Disclosure of transactions and balances during the year with associates and joint ventures | Advances and credits, guarantees and deposit balances during the year with Key Management Personnel 2020 2019 Balance at Highest amounts Balance at 31 Dec Highest amounts outstanding during year Footnotes $m $m $m $m Key Management Personnel Advances and credits 1 221 357 283 328 Guarantees 30 55 34 34 Deposits 281 874 268 659 1 Advances and credits entered into by subsidiaries of HSBC Holdings plc during 2020 with Directors and former Directors, disclosed pursuant to section 413 of the Companies Act 2006, totalled $4.7m (2019: $3m). Transactions and balances during the year with associates and joint ventures 2020 2019 Highest balance Balance at Highest balance Balance at $m $m $m $m Unsubordinated amounts due from joint ventures 147 147 132 123 Unsubordinated amounts due from associates 4,330 2,942 4,554 2,054 Amounts due to associates 5,466 2,226 2,517 516 Amounts due to joint ventures 102 102 28 28 Guarantees and commitments 433 283 647 407 Transactions and balances during the year with subsidiaries 2020 2019 Highest balance during the year Balance at Highest balance Balance at $m $m $m $m Assets Cash and balances with HSBC undertakings 5,476 2,913 5,029 2,382 Financial assets with HSBC undertakings designated and otherwise mandatorily measured at fair value 65,253 65,253 61,964 61,964 Derivatives 5,784 4,698 3,902 2,002 Loans and advances to HSBC undertakings 10,785 10,443 43,436 10,218 Prepayments, accrued income and other assets 1,838 1,363 655 480 Investments in subsidiaries 161,546 160,660 163,258 161,473 Total related party assets at 31 Dec 250,682 245,330 278,244 238,519 Liabilities Amounts owed to HSBC undertakings 581 330 1,553 464 Derivatives 3,376 3,060 2,183 2,021 Accruals, deferred income and other liabilities 2,737 1,936 — — Subordinated liabilities 892 892 892 892 Total related party liabilities at 31 Dec 7,586 6,218 4,628 3,377 Guarantees and commitments 15,661 13,787 11,541 11,061 |
HSBC Holdings' subsidiaries, _2
HSBC Holdings' subsidiaries, joint ventures and associates (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Interests In Other Entities [Abstract] | |
Disclosure of interests in subsidiaries | Main subsidiaries of HSBC Holdings At 31 Dec 2020 Place of incorporation or registration HSBC’s interest % Share class Europe HSBC Bank plc England and Wales 100 £1 Ordinary, $0.01 Non-cumulative third Dollar Preference HSBC UK Bank plc England and Wales 100 £1 Ordinary HSBC Continental Europe France 99.99 €5 Actions HSBC Trinkaus & Burkhardt AG 1 Germany 99.33 Stückaktien no par value Asia Hang Seng Bank Limited Hong Kong 62.14 HK$5 Ordinary HSBC Bank (China) Company Limited People’s Republic of China 100 CNY1 Ordinary HSBC Bank Malaysia Berhad Malaysia 100 RM0.5 Ordinary HSBC Life (International) Limited Bermuda 100 HK$1 Ordinary The Hongkong and Shanghai Banking Corporation Limited Hong Kong 100 Ordinary no par value Middle East and North Africa HSBC Bank Middle East Limited United Arab Emirates 100 $1 Ordinary and $1 Cumulative Redeemable Preference shares (CRP) North America HSBC Bank Canada Canada 100 Common no par value and Preference no par value HSBC Bank USA, N.A. US 100 $100 Common and $0.01 Preference Latin America HSBC Mexico, S.A., Institución de Banca Múltiple, Mexico 99.99 MXN2 Ordinary Subsidiaries with significant non-controlling interests 2020 2019 Hang Seng Bank Limited Proportion of ownership interests and voting rights held by non-controlling interests 37.86 % 37.86% Place of business Hong Kong Hong Kong $m $m Profit attributable to non-controlling interests 843 1,229 Accumulated non-controlling interests of the subsidiary 7,604 7,262 Dividends paid to non-controlling interests 625 720 Summarised financial information: – total assets 224,483 212,485 – total liabilities 202,907 191,819 – net operating income before changes in expected credit losses and other credit impairment charges 4,568 5,558 – profit for the year 2,230 3,251 – total comprehensive income for the year 2,535 3,461 Subsidiaries % of share class held by immediate parent company (or by the Group where this varies) Footnotes 452 TALF Plus ABS Opportunities SPV LLC 100.00 13 452 TALF SPV LLC 100.00 13 Almacenadora Banpacifico S.A. (In Liquidation) 99.99 14 Assetfinance December (F) Limited 100.00 15 Assetfinance December (H) Limited 100.00 16 Assetfinance December (M) Limited (In Liquidation) 100.00 17 Assetfinance December (P) Limited 100.00 16 Assetfinance December (R) Limited 100.00 16 Assetfinance June (A) Limited 100.00 16 Assetfinance June (D) Limited 100.00 15 Assetfinance Limited 100.00 16 Assetfinance March (B) Limited 100.00 18 Assetfinance March (D) Limited 100.00 15 Assetfinance March (F) Limited 100.00 16 Assetfinance September (F) Limited 100.00 16 Assetfinance September (G) Limited 100.00 15 B&Q Financial Services Limited 100.00 16 Banco HSBC S.A. 100.00 19 Banco Nominees (Guernsey) Limited 100.00 20 Banco Nominees 2 (Guernsey) Limited 100.00 20 Banco Nominees Limited 100.00 21 Beau Soleil Limited Partnership N/A 0, 22 Beijing Miyun HSBC Rural Bank Company Limited 100.00 10, 23 Billingsgate Nominees Limited (In Liquidation) 100.00 24 Canada Crescent Nominees (UK) Limited 100.00 16 Canada Square Nominees (UK) Limited 100.00 16 Capco/Cove, Inc. 100.00 25 Card-Flo #1, Inc. 100.00 13 Card-Flo #3, Inc. 100.00 13 CC&H Holdings LLC 100.00 26 CCF HOLDING (LIBAN) S.A.L. (In Liquidation) 74.99 27 Charterhouse Administrators ( D.T.) Limited 100.00 (99.99) 16 Charterhouse Management Services Limited 100.00 (99.99) 16 Charterhouse Pensions Limited 100.00 16 Chongqing Dazu HSBC Rural Bank Company Limited 100.00 10, 28 Chongqing Fengdu HSBC Rural Bank Company Limited 100.00 10, 29 Chongqing Rongchang HSBC Rural Bank Company Limited 100.00 10, 30 COIF Nominees Limited N/A 0, 16 Cordico Management AG (In Liquidation) 100.00 31 Corsair IV Financial Services Capital Partners-B, LP N/A 0, 185 Dalian Pulandian HSBC Rural Bank Company Limited 100.00 10, 32 Decision One Mortgage Company, LLC N/A 0, 33 Dem 9 100.00 (99.99) 4, 34 Dempar 1 100.00 (99.99) 4, 34 Desarrollo Turistico, S.A. de C.V. (In Liquidation) 100.00 (99.99) 14 Electronic Data Process México, S.A. de C.V. 100.00 14 Equator Holdings Limited (In Liquidation) 100.00 17 Eton Corporate Services Limited 100.00 20 Far East Leasing SA (In Dissolution) 100.00 35 Flandres Contentieux S.A. 100.00 (99.99) 34 Foncière Elysées 100.00 (99.99) 34 Fujian Yongan HSBC Rural Bank Company Limited 100.00 10, 36 Fulcher Enterprises Company Limited 100.00 (62.14) 37 Fundacion HSBC, A.C. 100.00 (99.99) 9, 14 Giller Ltd. 100.00 25 GPIF Co-Investment, LLC N/A 0, 13 Subsidiaries % of share class held by immediate parent company (or by the Group where this varies) Footnotes Griffin International Limited 100.00 16 Grundstuecksgesellschaft Trinkausstrasse Kommanditgesellschaft N/A 0, 38 Grupo Financiero HSBC, S. A. de C. V. 99.99 14 Guangdong Enping HSBC Rural Bank Company Limited 100.00 10, 39 Guangzhou HSBC Real Estate Company Ltd 100.00 40 Hang Seng (Nominee) Limited 100.00 (62.14) 37 Hang Seng Bank (China) Limited 100.00 (62.14) 41 Hang Seng Bank (Trustee) Limited 100.00 (62.14) 37 Hang Seng Bank Limited 62.14 37 Hang Seng Bullion Company Limited 100.00 (62.14) 37 Hang Seng Credit Limited 100.00 (62.14) 37 Hang Seng Data Services Limited 100.00 (62.14) 37 Hang Seng Finance Limited 100.00 (62.14) 37 Hang Seng Financial Information Limited 100.00 (62.14) 37 Hang Seng Indexes (Netherlands) B.V. 100.00 (62.14) 42 Hang Seng Indexes Company Limited 100.00 (62.14) 37 Hang Seng Insurance Company Limited 100.00 (62.14) 37 Hang Seng Investment Management Limited 100.00 (62.14) 37 Hang Seng Investment Services Limited 100.00 (62.14) 37 Hang Seng Life Limited 100.00 (62.14) 37 Hang Seng Real Estate Management Limited 100.00 (62.14) 37 Hang Seng Securities Limited 100.00 (62.14) 37 Hang Seng Security Management Limited 100.00 (62.14) 37 Haseba Investment Company Limited 100.00 (62.14) 37 HFC Bank Limited (In Liquidation) 100.00 17 High Time Investments Limited 100.00 (62.14) 37 Honey Green Enterprises Ltd. 100.00 43 Honey Grey Enterprises Limited 100.00 44 Honey Silver Enterprises Limited 100.00 44 Household International Europe Limited (In Liquidation) 100.00 17 Household Pooling Corporation 100.00 45 Housing (USA) LLP N/A HSBC (BGF) Investments Limited 100.00 16 HSBC (General Partner) Limited 100.00 2, 47 HSBC (Guernsey) GP PCC Limited 100.00 20 HSBC (Kuala Lumpur) Nominees Sdn Bhd 100.00 48 HSBC (Malaysia) Trustee Berhad 100.00 49 HSBC (Singapore) Nominees Pte Ltd 100.00 50 HSBC Agency (India) Private Limited 100.00 51 HSBC Alternative Credit Strategies General Partner S.a r.l. N/A 0, 52 HSBC Alternative Investments Limited 100.00 16 HSBC Amanah Malaysia Berhad 100.00 48 HSBC Americas Corporation (Delaware) 100.00 13 HSBC Argentina Holdings S.A. 100.00 53 HSBC Asia Holdings B.V. 100.00 16 HSBC Asia Holdings Limited 100.00 2, 44 HSBC Asia Pacific Holdings (UK) Limited 100.00 16 HSBC Asset Finance (UK) Limited 100.00 16 HSBC Asset Finance M.O.G. Holdings (UK) Limited 100.00 16 HSBC Asset Management (India) Private Limited 100.00 54 HSBC Assurances Vie (France) 100.00 (99.99) 55 HSBC Australia Holdings Pty Limited 100.00 56 HSBC BANK (CHILE) 100.00 57 HSBC Bank (China) Company Limited 100.00 10, 58 HSBC Bank (General Partner) Limited 100.00 47 HSBC Bank (Mauritius) Limited 100.00 59 HSBC Bank (RR) (Limited Liability Company) N/A 0, 11, 60 HSBC Bank (Singapore) Limited 100.00 50 HSBC Bank (Taiwan) Limited 100.00 61 HSBC Bank (Uruguay) S.A. 100.00 62 HSBC Bank (Vietnam) Ltd. 100.00 63 HSBC Bank A.S. 100.00 64 Subsidiaries % of share class held by immediate parent company (or by the Group where this varies) Footnotes HSBC Bank Argentina S.A. 100.00 53 HSBC Bank Armenia cjsc 100.00 65 HSBC Bank Australia Limited 100.00 56 HSBC Bank Bermuda Limited 100.00 21 HSBC Bank Canada 100.00 66 HSBC Bank Capital Funding (Sterling 1) LP N/A 0, 47 HSBC Bank Capital Funding (Sterling 2) LP N/A 0, 47 HSBC Bank Egypt S.A.E 99.63 (94.54) 67 HSBC Bank Malaysia Berhad 100.00 48 HSBC Bank Malta p.l.c. 70.03 68 HSBC Bank Middle East Limited 100.00 5, 69 HSBC Bank Middle East Limited Representative Office Morocco SARL (In Liquidation) 100.00 70 HSBC Bank Oman S.A.O.G. 51.00 71 HSBC Bank Pension Trust (UK) Limited 100.00 16 HSBC Bank plc 100.00 16 HSBC Bank USA, National Association 100.00 3, 72 HSBC Branch Nominee (UK) Limited 100.00 15 HSBC Brasil Holding S.A. 100.00 19 HSBC Broking Forex (Asia) Limited 100.00 44 HSBC Broking Futures (Asia) Limited 100.00 44 HSBC Broking Futures (Hong Kong) Limited 100.00 44 HSBC Broking Securities (Asia) Limited 100.00 44 HSBC Broking Securities (Hong Kong) Limited 100.00 44 HSBC Broking Services (Asia) Limited 100.00 44 HSBC Canadian Covered Bond (Legislative) Guarantor Limited Partnership N/A 0, 73 HSBC Capital (USA), Inc. 100.00 13 HSBC Capital Funding (Dollar 1) L.P. N/A 0, 47 HSBC Capital Limited 100.00 44 HSBC Card Services Inc. 100.00 13 HSBC Casa de Bolsa, S.A. de C.V., Grupo Financiero HSBC 100.00 (99.99) 14 HSBC Cayman Limited 100.00 74 HSBC Cayman Services Limited 100.00 74 HSBC City Funding Holdings 100.00 16 HSBC Client Holdings Nominee (UK) Limited 100.00 16 HSBC Client Nominee (Jersey) Limited 100.00 75 HSBC Columbia Funding, LLC N/A 0, 13 HSBC Continental Europe 99.99 34 HSBC Corporate Advisory (Malaysia) Sdn Bhd 100.00 48 HSBC Corporate Finance (Hong Kong) Limited 100.00 44 HSBC Corporate Trustee Company (UK) Limited 100.00 16 HSBC Custody Nominees (Australia) Limited 100.00 56 HSBC Custody Services (Guernsey) Limited 100.00 20 HSBC Daisy Investments (Mauritius) Limited 100.00 76 HSBC Diversified Loan Fund General Partner Sarl 100.00 77 HSBC Electronic Data Processing (Guangdong) Limited 100.00 10, 78 HSBC Electronic Data Processing (Malaysia) Sdn Bhd 100.00 79 HSBC Electronic Data Processing (Philippines), Inc. 99.99 80 HSBC Electronic Data Processing India Private Limited 100.00 81 HSBC Electronic Data Processing Lanka (Private) Limited 100.00 82 HSBC Electronic Data Service Delivery (Egypt) S.A.E. 100.00 83 HSBC Enterprise Investment Company (UK) Limited (In Liquidation) 100.00 17 HSBC Epargne Entreprise (France) 100.00 (99.99) 55 HSBC Equator (UK) Limited (In Liquidation) 100.00 17 HSBC Equipment Finance (UK) Limited 100.00 15 HSBC Equity (UK) Limited 100.00 16 HSBC Europe B.V. 100.00 16 Subsidiaries % of share class held by immediate parent company (or by the Group where this varies) Footnotes HSBC Executor & Trustee Company (UK) Limited 100.00 15 HSBC Factoring (France) 100.00 (99.99) 34 HSBC Finance (Netherlands) 100.00 2, 16 HSBC Finance Corporation 100.00 13 HSBC Finance Limited 100.00 16 HSBC Finance Mortgages Inc. 100.00 84 HSBC Finance Transformation (UK) Limited 100.00 16 HSBC Financial Services (Lebanon) s.a.l. 99.65 85 HSBC Financial Services (Middle East) Limited (In Liquidation) 100.00 86 HSBC Financial Services (Uruguay) S.A. (In Liquidation) 100.00 87 HSBC FinTech Services (Shanghai) Company Limited 100.00 88 HSBC Germany Holdings GmbH 100.00 38 HSBC Global Asset Management (Bermuda) Limited 100.00 3, 21 HSBC Global Asset Management (Canada) Limited 100.00 66 HSBC Global Asset Management (Deutschland) GmbH 100.00 (99.33) 38 HSBC Global Asset Management (France) 100.00 (99.99) 55 HSBC Global Asset Management (Hong Kong) Limited 100.00 22 HSBC Global Asset Management (International) Limited (In Liquidation) 100.00 89 HSBC Global Asset Management (Japan) K. K. 100.00 90 HSBC Global Asset Management (Malta) Limited 100.00 (70.03) 91 HSBC Global Asset Management (México), S.A. de C.V., Sociedad Operadora de Fondos de Inversión, Grupo Financiero HSBC 100.00 (99.99) 14 HSBC Global Asset Management (Oesterreich) GmbH 100.00 (99.33) 6, 92 HSBC Global Asset Management (Singapore) Limited 100.00 50 HSBC Global Asset Management (Switzerland) AG 100.00 (99.66) 4, 93 HSBC Global Asset Management (Taiwan) Limited 100.00 94 HSBC Global Asset Management (UK) Limited 100.00 16 HSBC Global Asset Management (USA) Inc. 100.00 95 HSBC Global Asset Management Argentina S.A. Sociedad Gerente de Fondos Comunes de Inversión 100.00 (99.99) 96 HSBC Global Asset Management Holdings (Bahamas) Limited 100.00 97 HSBC Global Asset Management Limited 100.00 2, 16 HSBC Global Custody Nominee (UK) Limited 100.00 16 HSBC Global Custody Proprietary Nominee (UK) Limited 100.00 1, 16 HSBC Global Services (Canada) Limited 100.00 98 HSBC Global Services (China) Holdings Limited 100.00 16 HSBC Global Services (Hong Kong) Limited 100.00 44 HSBC Global Services (UK) Limited 100.00 16 HSBC Global Services Limited 100.00 2, 16 HSBC Global Shared Services (India) Private Limited (In Liquidation) 99.99 1, 51 HSBC Group Management Services Limited 100.00 16 HSBC Group Nominees UK Limited 100.00 2, 16 HSBC Holdings B.V. 100.00 16 HSBC IM Pension Trust Limited 100.00 16 HSBC Infrastructure Debt GP 1 S.à r.l. N/A 0, 52 HSBC Infrastructure Debt GP 2 S.à r.l. N/A 0, 52 HSBC Infrastructure Limited 100.00 16 HSBC INKA Investment-AG TGV 100.00 (99.33) 12, 99 HSBC Inmobiliaria (Mexico), S.A. de C.V. 100.00 (99.99) 14 HSBC Institutional Trust Services (Asia) Limited 100.00 44 HSBC Institutional Trust Services (Bermuda) Limited 100.00 21 Subsidiaries % of share class held by immediate parent company (or by the Group where this varies) Footnotes HSBC Institutional Trust Services (Mauritius) Limited 100.00 59 HSBC Institutional Trust Services (Singapore) Limited 100.00 50 HSBC Insurance (Asia) Limited 100.00 100 HSBC Insurance (Asia-Pacific) Holdings Limited 100.00 101 HSBC Insurance (Bermuda) Limited 100.00 21 HSBC Insurance (Singapore) Pte. Limited 100.00 50 HSBC Insurance Agency (USA) Inc. 100.00 95 HSBC Insurance Brokers (Philippines) Inc 99.99 102 HSBC Insurance Holdings Limited 100.00 2, 16 HSBC Insurance SAC 1 (Bermuda) Limited 100.00 21 HSBC Insurance SAC 2 (Bermuda) Limited 100.00 21 HSBC Insurance Services (Lebanon) S.A.L. (In Liquidation) 99.99 103 HSBC Insurance Services Holdings Limited 100.00 16 HSBC International Finance Corporation (Delaware) 100.00 104 HSBC International Trustee (BVI) Limited 100.00 8, 105 HSBC International Trustee (Holdings) Pte. Limited 100.00 50 HSBC International Trustee Limited 100.00 106 HSBC Inversiones S.A. 99.99 57 HSBC InvestDirect (India) Limited 100.00 (99.98) 107 HSBC InvestDirect Financial Services (India) Limited 99.99 (99.98) 107 HSBC InvestDirect Sales & Marketing (India) Limited 98.99 (98.98) 51 HSBC InvestDirect Securities (India) Private Limited 99.99 107 HSBC Investment Bank Holdings B.V. 100.00 16 HSBC Investment Bank Holdings Limited 100.00 16 HSBC Investment Company (Egypt) S.A.E (In Liquidation) 100.00 (97.81) 108 HSBC Investment Company Limited 100.00 2, 16 HSBC Investment Funds (Canada) Inc. 100.00 109 HSBC Investment Funds (Hong Kong) Limited 100.00 22 HSBC Investment Funds (Luxembourg) SA 100.00 52 HSBC Invoice Finance (UK) Limited 100.00 110 HSBC Issuer Services Common Depositary Nominee (UK) Limited 100.00 16 HSBC Issuer Services Depositary Nominee (UK) Limited 100.00 16 HSBC Latin America B.V. 100.00 16 HSBC Latin America Holdings (UK) Limited 100.00 2, 16 HSBC Leasing (Asia) Limited 100.00 44 HSBC Leasing (France) 100.00 (99.99) 34 HSBC Life (Cornell Centre) Limited 100.00 100 HSBC Life (Edwick Centre) Limited 100.00 100 HSBC Life (International) Limited 100.00 21 HSBC Life (Property Investment) Limited 100.00 100 HSBC Life (Property Light) Limited 100.00 100 HSBC Life (Property) Limited 100.00 100 HSBC Life (Tsing Yi Industrial) Limited 100.00 100 HSBC Life (UK) Limited 100.00 16 HSBC Life Assurance (Malta) Limited 100.00 (70.03) 91 HSBC LU Nominees Limited 100.00 16 HSBC Management (Guernsey) Limited 100.00 20 HSBC Markets (USA) Inc. 100.00 13 HSBC Marking Name Nominee (UK) Limited 100.00 16 HSBC Master Trust Trustee Limited 100.00 16 HSBC Mexico, S.A., Institucion de Banca Multiple, Grupo Financiero HSBC 99.99 14 HSBC Middle East Finance Company Limited 100.00 (80.00) 111 HSBC Middle East Holdings B.V. 100.00 2, 112 HSBC Middle East Leasing Partnership N/A 0, 113 HSBC Middle East Securities L.L.C N/A 0, 114 HSBC Mortgage Corporation (Canada) 100.00 115 HSBC Mortgage Corporation (USA) 100.00 13 Subsidiaries % of share class held by immediate parent company (or by the Group where this varies) Footnotes HSBC Nominees (Asing) Sdn Bhd 100.00 48 HSBC Nominees (Hong Kong) Limited 100.00 44 HSBC Nominees (New Zealand) Limited 100.00 116 HSBC Nominees (Tempatan) Sdn Bhd 100.00 48 HSBC North America Holdings Inc. 100.00 3, 13 HSBC Operational Services GmbH 90.10 (89.49) 117 HSBC Overseas Holdings (UK) Limited 100.00 2, 16 HSBC Overseas Investments Corporation (New York) 100.00 118 HSBC Overseas Nominee (UK) Limited 100.00 16 HSBC Participaciones (Argentina) S.A. 100.00 (99.99) 53 HSBC PB Corporate Services 1 Limited 100.00 119 HSBC PB Services (Suisse) SA 100.00 120 HSBC Pension Trust (Ireland) DAC 100.00 121 HSBC Pensiones, S.A. 100.00 14 HSBC PI Holdings (Mauritius) Limited 100.00 59 HSBC Portfoy Yonetimi A.S. 100.00 122 HSBC Preferential LP (UK) 100.00 16 HSBC Private Bank (Luxembourg) S.A. 100.00 52 HSBC Private Bank (Suisse) SA 100.00 123 HSBC Private Bank (UK) Limited 100.00 16 HSBC Private Banking Holdings (Suisse) SA 100.00 120 HSBC Private Banking Nominee 3 (Jersey) Limited 100.00 124 HSBC Private Equity Investments (UK) Limited 100.00 16 HSBC Private Trustee (Hong Kong) Limited 100.00 44 HSBC Private Wealth Services (Canada) Inc. 100.00 109 HSBC Professional Services (India) Private Limited 100.00 125 HSBC Property (UK) Limited 100.00 16 HSBC Property Funds (Holding) Limited 100.00 16 HSBC Provident Fund Trustee (Hong Kong) Limited 100.00 44 HSBC Qianhai Securities Limited 100.00 (51.00) 10, 126 HSBC Real Estate Leasing (France) 100.00 (99.99) 34 HSBC Realty Credit Corporation (USA) 100.00 13 HSBC REGIO Fund General Partner S.à r.l. 100.00 52 HSBC REIM (France) 100.00 (99.99) 55 HSBC Retirement Benefits Trustee (UK) Limited 100.00 1, 2, 16 HSBC Retirement Services Limited 100.00 1, 16 HSBC Savings Bank (Philippines) Inc. 99.99 127 HSBC Securities (Asia) Limited (In Liquidation) 100.00 44 HSBC Securities (Canada) Inc. 100.00 98 HSBC Securities (Egypt) S.A.E. 100.00 (94.65) 67 HSBC Securities (Japan) Limited 100.00 16 HSBC Securities (Singapore) Pte Limited 100.00 50 HSBC Securities (South Africa) (Pty) Limited 100.00 128 HSBC Securities (Taiwan) Corporation Limited 100.00 129 HSBC Securities (USA) Inc. 100.00 13 HSBC Securities and Capital Markets (India) Private Limited 99.99 51 HSBC Securities Asia Nominees Limited (In Liquidation) 100.00 44 HSBC Securities Brokers (Asia) Limited 100.00 44 HSBC Securities Investments (Asia) Limited 100.00 44 HSBC Securities Services (Bermuda) Limited 100.00 21 HSBC Securities Services (Guernsey) Limited 100.00 20 HSBC Securities Services (Ireland) DAC 100.00 121 HSBC Securities Services (Luxembourg) S.A. 100.00 52 HSBC Securities Services Holdings (Ireland) DAC 100.00 121 HSBC Securities Services Nominees Limited 100.00 44 HSBC Seguros de Retiro (Argentina) S.A. 100.00 (99.99) 53 HSBC Seguros de Vida (Argentina) S.A. 100.00 (99.99) 53 HSBC Seguros, S.A de C.V., Grupo Financiero HSBC 100.00 (99.99) 3, 14 HSBC Service Company Germany GmbH 100.00 (99.33) 130 HSBC Service Delivery (Polska) Sp. z o.o. 100.00 131 HSBC Services (France) 100.00 (99.99) 34 HSBC Services Japan Limited 100.00 132 Subsidiaries % of share class held by immediate parent company (or by the Group where this varies) Footnotes HSBC Services USA Inc. 100.00 133 HSBC Servicios Financieros, S.A. de C.V 100.00 (99.99) 14 HSBC Servicios, S.A. DE C.V., Grupo Financiero HSBC 100.00 (99.99) 14 HSBC SFH (France) 100.00 (99.99) 4, 55 HSBC SFT (C.I.) Limited 100.00 20 HSBC Software Development (Guangdong) Limited 100.00 134 HSBC Software Development (India) Private Limited 100.00 135 HSBC Software Development (Malaysia) Sdn Bhd 100.00 79 HSBC Specialist Investments Limited 100.00 16 HSBC Technology & Services (China) Limited 100.00 136 HSBC Technology & Services (USA) Inc. 100.00 13 HSBC Transaction Services GmbH 100.00 (99.33) 6, 137 HSBC Trinkaus & Burkhardt (International) S.A. 100.00 (99.33) 52 HSBC Trinkaus & Burkhardt AG 99.33 38 HSBC Trinkaus & Burkhardt Gesellschaft fur Bankbeteiligungen mbH 100.00 (99.33) 38 HSBC Trinkaus Europa Immobilien-Fonds Nr. 5 GmbH 100.00 (99.33) 38 HSBC Trinkaus Family Office GmbH 100.00 (99.33) 6, 38 HSBC Trinkaus Immobilien Beteiligungs KG 100.00 (99.33) 38 HSBC Trinkaus Real Estate GmbH 100.00 (99.33) 6, 38 HSBC Trust Company (Canada) 100.00 115 HSBC Trust Company (Delaware), National Association 100.00 104 HSBC Trust Company (UK) Limited 100.00 16 HSBC Trust Company AG (In Liquidation) 100.00 31 HSBC Trustee (C.I.) Limited 100.00 124 HSBC Trustee (Cayman) Limited 100.00 138 HSBC Trustee (Guernsey) Limited 100.00 20 HSBC Trustee (Hong Kong) Limited 100.00 44 HSBC Trustee (Singapore) Limited 100.00 50 HSBC UK Bank plc 100.00 15 HSBC UK Client Nominee Limited 100.00 15 HSBC UK Holdings Limited 100.00 2, 16 HSBC USA Inc. 100.00 118 HSBC Ventures USA Inc. 100.00 13 HSBC Violet Investments (Mauritius) Limited 100.00 76 HSBC Wealth Client Nominee Limited 100.00 1, 15 HSBC Yatirim Menkul Degerler A.S. 100.00 122 HSI Asset Securitization Corporation 100.00 13 HSI International Limited 100.00 (62.14) 37 HSIL Investments Limited 100.00 16 Hubei Macheng HSBC Rural Bank Company Limited 100.00 139 Hubei Suizhou Cengdu HSBC Rural Bank Company Limited 100.00 10, 140 Hubei Tianmen HSBC Rural Bank Company Limited 100.00 141 Hunan Pingjiang HSBC Rural Bank Company Limited 100.00 10, 142 Imenson Limited 100.00 (62.14) 37 Infrared NF China Real Estate Investments LP N/A 0, 186 INKA Internationale Kapitalanlagegesellschaft mbH 100.00 (99.33) 137 Inmobiliaria Banci, S.A. de C.V. 100.00 (99.68) 14 Inmobiliaria Bisa, S.A. de C.V. 99.98 14 Inmobiliaria Grufin, S.A. de C.V. 100.00 (99.99) 14 Inmobiliaria Guatusi, S.A. de C.V. 100.00 (99.99) 14 James Capel & Co. Limited 100.00 16 James Capel (Nominees) Limited 100.00 16 James Capel (Taiwan) Nominees Limited 100.00 16 John Lewis Financial Services Limited 100.00 16 Keyser Ullmann Limited 100.00 (99.99) 16 Lion Corporate Services Limited 100.00 44 Lion International Corporate Services Limited 100.00 1, 106 Subsidiaries % of share class held by immediate parent company (or by the Group where this varies) Footnotes Lion International Management Limited 100.00 106 Lion Management (Hong Kong) Limited 100.00 1, 44 Lyndholme Limited 100.00 44 Marks and Spencer Financial Services plc 100.00 143 Marks and Spencer Unit Trust Management Limited 100.00 143 Maxima S.A. AFJP (In Liquidation) 99.98 53 Mexicana de Fomento, S.A. de C.V. 100.00 (99.90) 14 Midcorp Limited 100.00 16 Midland Bank (Branch Nominees) Limited 100.00 15 Midland Nominees Limited 100.00 15 MIL (Cayman) Limited 100.00 74 MW Gestion SA 100.00 53 Promocion en Bienes Raices, S.A. de C.V. 100.00 (99.99) 14 Prudential Client HSBC GIS Nominee (UK) Limited 100.00 16 PT Bank HSBC Indonesia 99.99 (98.93) 144 PT HSBC Sekuritas Indonesia 85.00 145 R/CLIP Corp. 100.00 13 Real Estate Collateral Management Company 100.00 13 Republic Nominees Limited 100.00 20 Republic Overseas Capital Corporation 100.00 95 RLUKREF Nominees (UK) One Limited 100.00 1, 16 RLUKREF Nominees (UK) Two Limited 100.00 1, 16 S.A.P.C. - Ufipro Recouvrement 99.99 34 Saf Baiyun 100.00 (99.99) 4, 34 Saf Guangzhou 100.00 (99.99) 4, 34 Saf Zhu Jiang Shi Ba 100.00 (99.99) 4, 34 Saf Zhu Jiang Shi Er 100.00 (99.99) 4, 34 Saf Zhu Jiang Shi Jiu 100.00 (99.99) 4, 34 Saf Zhu Jiang Shi Liu 100.00 (99.99) 4, 34 Saf Zhu Jiang Shi Qi 100.00 (99.99) 4, 34 Saf Zhu Jiang Shi Wu 100.00 (99.99) 4, 34 SCI HSBC Assurances Immo 100.00 (99.99) 55 Serai Limited 100.00 1, 44 Serai Technology Development (Shanghai) Limited 100.00 10, 147 SFM 100.00 (99.99) 34 SFSS Nominees (Pty) Limited 100.00 128 Shandong Rongcheng HSBC Rural Bank Company Limited 100.00 10, 148 Shenzhen HSBC Development Company Ltd 100.00 149 Sico Limited 100.00 150 SNC Dorique 99.99 1, 9, 151 SNC Les Mercuriales 100.00 (99.99) 1, 9, 34 SNC Les Oliviers D'Antibes 60.00 55 SNC Makala 100.00 (99.99) 1, 9, 34 SNCB/M6 - 2008 A 100.00 (99.99) 34 SNCB/M6-2007 A 100.00 (99.99) 4, 34 SNCB/M6-2007 B 100.00 (99.99) 4, 34 Société Française et Suisse 100.00 (99.99) 34 Somers Dublin DAC 100.00 (99.99) 121 Somers Nominees (Far East) Limited 100.00 21 Sopingest 100.00 (99.99) 34 South Yorkshire Light Rail Limited 100.00 16 St Cross Trustees Limited 100.00 15 Sun Hung Kai Development (Lujiazui III) Limited 100.00 10, 152 Swan National Limited 100.00 16 Tasfiye Halinde HSBC Odeme Sistemleri Bilgisayar Teknolojileri Basin Yayin Ve Musteri Hizmetleri (In Liquidation) 100.00 153 The Hongkong and Shanghai Banking Corporation Limited 100.00 44 The Venture Catalysts Limited 100.00 16 Tooley Street View Limited 100.00 2, 16 Tower Investment Management 100.00 154 Trinkaus Australien Immobilien Fonds Nr. 1 Brisbane GmbH & Co. KG 100.00 (99.33) 38 Trinkaus Australien Immobilien-Fonds Nr. 1 Treuhand-GmbH 100.00 (99.33) 6, 38 Subsidiaries % of share class held by immediate parent company (or by the Group where this varies) Footnotes Trinkaus Europa Immobilien-Fonds Nr.3 Objekt Utrecht Verwaltungs-GmbH 100.00 (99.33) 38 Trinkaus Immobilien-Fonds Geschaeftsfuehrungs-GmbH 100.00 (99.33) 6, 38 Trinkaus Immobilien-Fonds Verwaltungs-GmbH 100.00 (99.33) 6, 38 Trinkaus Private Equity Management GmbH 100.00 (99.33) 38 Trinkaus Private Equity Verwaltungs GmbH 100.00 (99.33) 6, 38 Tropical Nominees Limited 100.00 74 Turnsonic (Nominees) Limited 100.00 15 Valeurs Mobilières Elysées 100.00 (99.99) 34 Wardley Limited 100.00 44 Wayfoong Nominees Limited 100.00 44 Wayhong (Bahamas) Limited 100.00 97 Westminster House, LLC N/A 0, 13 Woodex Limited 100.00 21 Yan Nin Development Company Limited 100.00 (62.14) 37 |
Disclosure of interests in joint ventures | Joint ventures The undertakings below are joint ventures and equity accounted. Joint ventures % of share class held by immediate parent company (or by the Group where this varies) Footnotes CCF & Partners Asset Management Limited 100.00 (99.99) 16 Global Payments Technology Mexico S.A. De C.V. 50.00 14 House Network Sdn Bhd 25.00 155 HSBC Life Insurance Company Limited 50.00 156 HSBC Pollination Climate Asset Management Limited 40.00 157 ProServe Bermuda Limited 50.00 158 The London Silver Market Fixing Limited N/A 0, 1, 159 Vaultex UK Limited 50.00 160 |
Disclosure of interests in associates | Principal associates of HSBC 2020 2019 Carrying amount Fair value 1 Carrying amount Fair value 1 $m $m $m $m Bank of Communications Co., Limited 21,248 7,457 18,982 10,054 The Saudi British Bank 4,215 4,197 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). At 31 Dec 2020 Footnotes Country of incorporation Principal HSBC’s Bank of Communications Co., Limited People’s Republic of China Banking services 19.03 The Saudi British Bank 1 Saudi Arabia Banking services 31.00 1 In December 2020, HSBC purchased additional shares and increased its shareholding in The Saudi British Bank (‘SABB’) from 29.2% to 31.0%. SABB will continue to be accounted for as an associate of HSBC. At 31 Dec 2020 At 31 Dec 2019 VIU Carrying value Fair value VIU Carrying value Fair value $bn $bn $bn $bn $bn $bn BoCom 21.8 21.2 7.5 21.5 19.0 10.1 Selected balance sheet information of BoCom At 30 Sep 2020 2019 $m $m Cash and balances at central banks 121,987 112,239 Loans and advances to banks and other financial institutions 107,334 108,026 Loans and advances to customers 870,728 730,510 Other financial assets 508,328 435,740 Other assets 44,622 40,101 Total assets 1,652,999 1,426,616 Deposits by banks and other financial institutions 273,708 290,492 Customer accounts 1,012,732 868,627 Other financial liabilities 207,110 131,772 Other liabilities 31,105 23,074 Total liabilities 1,524,655 1,313,965 Total equity 128,344 112,651 Selected income statement information of BoCom For the 12 months ended 30 Sep 2020 2019 $m $m Net interest income 21,994 20,558 Net fee and commission income 6,398 6,411 Change in expected credit losses and other credit impairment charges (9,698) (7,479) Depreciation and amortisation (2,072) (1,934) Tax expense (858) (1,636) Profit for the year 10,261 11,175 Other comprehensive income (769) 315 Total comprehensive income 9,492 11,490 Dividends received from BoCom 633 613 Associates The undertakings below are associates and equity accounted. Associates % of share class held by immediate parent company (or by the Group where this varies) Footnotes Bank of Communications Co., Ltd. 19.03 161 Barrowgate Limited 15.31 162 BGF Group PLC 24.56 163 Bud Financial Limited 10.82 1, 164 Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited 26.00 165 CFAC Payment Scheme Limited 33.33 166 Chemi & Cotex (Rwanda) Limited 33.99 1, 167 Chemi & Cotex Kenya Limited 33.99 1, 168 Chemi and Cotex Industries Limited 33.99 169 Contour 10.80 191 Episode Six Limited 9.10 187 EPS Company (Hong Kong) Limited 38.66 44 EURO Secured Notes Issuer 16.66 170 GIE GNIFI N/A 0, 1, 171 GZHS Research Co Ltd 20.50 172 Hang Seng Qianhai Fund Management Company Limited 43.49 1, 10, 173 HCM Holdings Limited (In Liquidation) 50.99 17 HSBC Canadian Covered Bond (Legislative) GP Inc. 100.00 73 HSBC Jintrust Fund Management Company Limited 49.00 174 HSBC Saudi Arabia, a Saudi closed Joint Stock Company 66.18 175 Icon Brickell LLC (In Liquidation) N/A 0, 176 Jeppe Star Limited 33.99 177 Liquidity Match LLC N/A 0, 188 London Precious Metals Clearing Limited 30.00 189 MENA Infrastructure Fund (GP) Ltd 33.33 178 Novo Star Limited 33.99 179 Quantexa Ltd 10.99 146 Services Epargne Entreprise 14.18 180 Simon Group LLC N/A 0, 190 sino AG 24.77 181 The London Gold Market Fixing Limited 25.00 159 The Saudi British Bank 30.99 182 Trade Information Network 16.67 192 Trinkaus Europa Immobilien-Fonds Nr. 7 Frankfurt Mertonviertel KG N/A 0, 38 Vizolution Limited 17.95 1, 183 We Trade Innovation Designated Activity Company 8.52 1, 184 |
Disclosure of description of shares from interests in subsidiaries, joint ventures, and associates | Footnotes for Note 37 Description of Shares 0 Where an entity is governed by voting rights, HSBC consolidates when it holds – directly or indirectly – the necessary voting rights to pass resolutions by the governing body. In all other cases, the assessment of control is more complex and requires judgement of other factors, including having exposure to variability of returns, power to direct relevant activities, and whether power is held as an agent or principal. HSBC’s consolidation policy is described in Note 1.2(a). 1 Management has determined that these undertakings are excluded from consolidation in the Group accounts as these entities do not meet the definition of subsidiaries in accordance with IFRS. HSBC’s consolidation policy is described in Note 1.2(a). 2 Directly held by HSBC Holdings plc 3 Preference Shares 4 Actions 5 Redeemable Preference Shares 6 GmbH Anteil 7 Limited and Unlimited Liability Shares 8 Non-Participating Voting Shares 9 Parts 10 Registered Capital Shares 11 Russian Limited Liability Company Shares 12 Stückaktien |
Disclosure of registered offices from interests in subsidiaries, joint ventures, and associates | Registered offices 13 c/o The Corporation Trust Company 1209 Orange Street, Wilmington, Delaware, United States of America, 19801 14 Paseo de la Reforma 347 Col. Cuauhtemoc, Mexico, 06500 15 1 Centenary Square, Birmingham, United Kingdom, B1 1HQ 16 8 Canada Square, London, United Kingdom, E14 5HQ 17 Hill House 1 Little New Street, London, United Kingdom, EC4A 3TR 18 5 Donegal Square South, Northern Ireland, Belfast, United Kingdom, BT1 5JP 19 1909 Avenida Presidente Juscelino Kubitschek, 19° andar, Torre Norte, São Paulo Corporate Towers, São Paulo, Brazil, 04551-903 20 Arnold House St Julians Avenue, St Peter Port, Guernsey, GY1 3NF 21 37 Front Street, Hamilton, Bermuda, HM 11 22 HSBC Main Building 1 Queen's Road Central, Hong Kong 23 First Floor, Xinhua Bookstore Xindong Road (SE of roundabout), Miyun District, Beijing, China 24 Deloitte LLP, 1 New Street Square, London, EC4A 3HQ, United Kingdom 25 95 Washington Street Buffalo, New York, United States of America, 14203 26 Corporation Service Company 251 Little Falls Drive, Wilmington, Delaware, United States of America, 19808 27 Solidere - Rue Saad Zaghloul Immeuble - 170 Marfaa, P.O. Box 17 5476 Mar Michael, Beyrouth, Lebanon, 11042040 28 No 1, Bei Huan East Road Dazu County, Chongqing, China 29 No 107 Ping Du Avenue (E), Sanhe Town, Fengdu County, Chongqing, China 30 No. 3, 5, 7, Haitang Erzhi Road Changyuan, Rongchang, Chongqing, China, 402460 31 Bederstrasse 49, Zurich, Switzerland, CH-8002 32 First & Second Floor, No.3 Nanshan Road, Pulandian , Dalian, Liaoning, China 33 CT Corporation System 225 Hillsborough Street, Raleigh, North Carolina, United States Of America, 27603 34 38 avenue Kléber, Paris, France, 75116 35 MMG Tower, 23 floor Ave. Paseo del Mar Urbanizacion Costa del Este, Panama 36 No. 1 1211 Yanjiang Zhong Road, Yongan, Fujian, China 37 83 Des Voeux Road Central, Hong Kong Registered offices 38 Königsallee 21/23, Düsseldorf, Germany, 40212 39 No.44 Xin Ping Road Central, Encheng, Enping, Guangdong, China, 529400 40 Room 1701-010 Heung Kong Building, 37 Jin Long Rd, Nansha District, Guangzhou, China 41 34/F and 36/F, Hang Seng Bank Tower 1000 Lujiazui Ring Road, Pilot Free Trade Zone, Shanghai, Shanghai, China, 200120 42 Claude Debussylaan 10 Office Suite 20, 1082MD, Amsterdam, Netherlands 43 Commerce House, Wickhams Cay 1, P.O. Box 3140, Road Town, Tortola, British Virgin Islands, VG1110 44 1 Queen's Road Central, Hong Kong 45 The Corporation Trust Company of Nevada 311 S. Division Street, Carson City, Nevada, United States of America, 89703 46 Corporation Service Company 2711 Centerville Road, Suite 400, Wilmington, Delaware, United States of America, 19808 47 HSBC House Esplanade, St. Helier, Jersey, JE4 8UB 48 10th Floor South Tower, Bangunan HSBC, No. 2, Leboh Ampang, Kuala Lumpur, Malaysia, 50100 49 13th Floor, South Tower 2 Leboh Ampang, Kuala Lumpur, Malaysia, 50100 50 10 Marina Boulevard #48-01 Marina Bay Financial Centre, Singapore, 018983 51 52/60 M G Road Fort, Mumbai, India, 400 001 52 16 Boulevard d'Avranches, Luxembourg, Luxembourg, L-1160 53 557 Bouchard Level 20, Ciudad de Buenos Aires, Capital federal, Argentina, C1106ABG 54 3rd Floor Merchantile Bank Chamber 16, Veer Nariman Road, Fort, Mumbai, India, 400001 55 Immeuble Cœur Défense 110 esplanade du Général de Gaulle, Courbevoie, France, 92400 56 Level 36 Tower 1 International Towers Sydney, 100 Barangaroo Avenue, Sydney, New South Wales, Australia, 2000 57 Isidora Goyenechea 2800 23rd floor, Las Condes, Santiago, Chile, 7550647 58 HSBC Building Shanghai ifc, 8 Century Avenue, Pudong, Shanghai, China, 200120 59 6th floor HSBC Centre 18, Cybercity, Ebene, Mauritius, 72201 60 2 Paveletskaya square building 2, Moscow, Russian Federation, 115054 61 13F-14F, 333 Keelung Road, Sec.1, Taipei, 110, Taiwan 62 25 de Mayo 471, Montevideo, Uruguay, 11000 63 The Metropolitan 235 Dong Khoi Street, District 1, Ho Chi Minh City, Viet Nam 64 Esentepe mah. Büyükdere Caddesi No.128, Istanbul, Turkey, 34394 65 66 Teryan street, Yerevan, Armenia, 0009 66 885 West Georgia Street 3rd Floor, Vancouver, British Columbia, Canada, V6C 3E9 67 306 Corniche El Nil, P.O. Box 124, Maadi, Egypt, 11728 68 116 Archbishop Street, Valletta, Malta 69 Level 1, Building No. 8, Gate Village Dubai International Financial Centre, United Arab Emirates, P.O. Box 30444 70 Majer Consulting, Office 54/44, Building A1, Residence Ryad Anfa, Boulevard Omar El Khayam, Casa Finance City (CFC), Casablanca, Morocco 71 Al Khuwair Office PO Box 1727 PC111 CPO Seeb, Muscat, Oman 72 1800 Tysons Boulevard Suite 50, Tysons, Virginia, United States of America, 22102 73 66 Wellington Street West, Suite 5300, Toronto, Ontario, Canada, M5K 1E6 Registered offices 74 P.O. Box 1109, Strathvale House, Ground floor, 90 North Church Street, George Town, Grand Cayman, Cayman Islands, KY1-1102 75 HSBC House Esplanade, St. Helier, Jersey, JE1 1HS 76 c/o Rogers Capital St. Louis Business Centre, Cnr Desroches & St Louis Streets, Port Louis, Mauritius 77 49 avenue J.F. Kennedy, Luxembourg, Luxembourg, 78 4-17/F, Office Tower 2 TaiKoo Hui, No. 381 Tian He Road, Tian He District, Guangzhou, Guangdong, China 79 Suite 1005, 10th Floor, Wisma Hamzah Kwong, Hing No. 1, Leboh Ampang, Kuala Lumpur, Malaysia, 50100 80 HSBC, Filinvest One Bldg Northgate Cyberzone, Filinvest Corporate City, Alabang, Muntinlupa City, Philippines, 1781 81 HSBC House Plot No.8 Survey No.64 (Part), Hightec City Layout Madhapur, Hyderabad, India, 500081 82 439, Sri Jayawardenapura Mawatha Welikada, Rajagiriya, Colombo, Sri Lanka 83 Smart Village 28th Km Cairo- Alexandria Desert Road Building, Cairo, Egypt 84 Suite 300 3381 Steeles Avenue East, Toronto, Ontario, Canada, M2H 3S7 85 Centre Ville 1341 Building - 4th Floor Patriarche Howayek Street (facing Beirut Souks), PO Box Riad El Solh, Lebanon, 9597 86 3rd Floor, HSBC Bank Middle East Limited Building, Al Souq Road, P.O Box 4604, Dubai, United Arab Emirates 87 World Trade Center Montevideo Avenida Luis Alberto de Herrera 1248, Torre 1, Piso 15, Oficina 1502, Montevideo, Uruguay, CP 11300 88 Room 655, Building A, No. 888, Huan Hu West Two Road, Lin Gang New Area of Shanghai (Pilot) Free Trade Zone, China, Shanghai, Shanghai, China 89 HSBC House Esplanade, St. Helier, Jersey, JE4 8WP 90 HSBC Building 11-1, Nihonbashi 3-chome, Chuo-ku, Tokyo, Japan, 103-0027 91 80 Mill Street, Qormi, Malta, QRM 3101 92 Herrengasse 1-3, Wien, Austria, 1010 93 26 Gartenstrasse, Zurich, Switzerland, 8002 94 24th Fl. 97-99, Sec.2, Tunhwa S. Rd., Taipei, Taiwan, R.O.C., Taiwan 95 452 Fifth Avenue, New York, United States of America, NY10018 96 Bouchard 557, Piso 18°, Cdad. Autónoma de Buenos Aires, Argentina, 1106 97 Mareva House 4 George Street, Nassau, Bahamas 98 70 York Street, Toronto, Ontario, Canada, M5J 1S9 99 Breite Str. 29/31, Düsseldorf, Germany, 40213 100 18th Floor, Tower 1, HSBC Centre 1 Sham Mong Road, Kowloon, Hong Kong 101 Level 32, HSBC Main Building 1 Queen's Road Central, Hong Kong SAR, Hong Kong 102 7/F HSBC Centre 3058 Fifth Ave West, Bonifacio Global City, Taguig City, Philippines 103 HSBC Building Minet El Hosn, Riad el Solh, Beirut 1107-2080, Lebanon, P.O. Box 11-1380 104 300 Delaware Avenue Suite 1401, Wilmington, Delaware, United States Of America, 19801 105 Woodbourne Hall, Road Town, Tortola, British Virgin Islands, P.O. Box 916 106 Craigmuir Chambers, PO Box 71, Road Town, Tortola, British Virgin Islands 107 9-11 Floors, NESCO IT Park Building No. 3 Western Express Highway, Goregaon (East), Mumbai, India, 400063 108 3, Aboul Feda Street Zamalek, Cairo, Egypt 109 300-885 West Georgia Street, Vancouver, British Columbia, Canada, V6C 3E9 110 21 Farncombe Road Worthing, United Kingdom, BN11 2BW Registered offices 111 Plot No.312-878 Mezzanine Floor, Bldg. of Sheikh Hamdan Bin Rashid, Dubai Creek, Dubai, United Arab Emira 112 Level 1, Building No. 8, Gate Village Dubai International Financial Centre, PO Box 30444, United Arab Emirates 113 Unit 101 Level 1, Gate Village Building No. 8 Dubai International Financial Centre (DIFC), Dubai, United Arab Emirates, PO Box 506553 114 Office No.16 Owned by HSBC Bank Middle East Limited, Dubai Branch, Bur Dubai, Burj Khalifa, Dubai, United Arab Emirates 115 885 West Georgia Street Suite 300, Vancouver, British Columbia, Canada, V6C 3E9 116 HSBC Tower, Level 21, 188 Quay Street, Auckland, New Zealand, 1010 117 21-23 Yorckstraße, Düsseldorf, Nordrhein-Westfalen, Germany, 40476 118 The Corporation Trust Incorporated, 2405 York Road, Suite 201, Lutherville Timonium, Maryland, United Sta 119 HSBC House Esplanade, St. Helier, Jersey, JE1 1GT 120 Quai des Bergues 9-17, Geneva, Switzerland, 1201 121 1 Grand Canal Square, Grand Canal Harbour, Dublin 2, Ireland, D02 P820 122 Esentepe mah. Büyükdere Caddesi No.128, Istanbul, Turkey, 34394 123 Quai des Bergues 9-17, Geneva, Switzerland, 1201 124 HSBC House Esplanade, St Helier, Jersey, JE1 1GT 125 52/60 M G Road, Fort, Mumbai, India, 400 001 126 Block 27 A&B, Qianhai Enterprise Dream Park No. 63 Qianwan Yi Road, Shenzhen-Hong Kong Cooperation Zone, Shenzhen, China, 518052 127 Unit 1 GF The Commerical Complex Madrigal Avenue, Ayala Alabang Village, Muntinlupa City, Philippines, 17 128 1 Mutual Place 107 Rivonia Road, Sandton, Sandton, Gauteng, South Africa, 2196 129 13F 333 Keelung Road, Sec.1, Taipei, Taiwan, 110 130 Hansaallee 3, Düsseldorf, Germany, 40549 131 Kapelanka 42A, Krakow, Poland, 30-347 132 MB&H Corporate Services Ltd Mareva House, 4 George Street, Nassau, Bahamas 133 C T Corporation System 820 Bear Tavern Road, West Trenton, New Jersey, United States Of America, 08628 134 L22, Office Tower 2, Taikoo Hui, 381 Tianhe Road, Tianhe District, Guangzhou, Guangdong, China 135 HSBC Centre River Side, West Avenue, 25B Raheja woods, Kalyaninagar, Pune, India, 411006 136 Level 19, HSBC Building, Shanghai ifc 8 Century Avenue Pudong, Shanghai, China 137 Yorckstraße 21 - 23, Duesseldorf, Germany, 40476 138 P.O. Box 309 Ugland House, Grand Cayman, Cayman Islands, KY1-1104 139 No. 56 Yu Rong Street, Macheng, China, 438300 140 No. 205 Lie Shan Road Suizhou, Hubei, China 141 Building 3, Yin Zuo Di Jing Wan Tianmen New City, Tianmen, Hubei Province, China 142 RM101, 102 & 106 Sunshine Fairview, Sunshine Garden, Pedestrian Walkway, Pingjiang, China 143 Kings Meadow Chester Business Park, Chester, United Kingdom, CH99 9FB 144 World Trade Center 1, Floor 8-9 Jalan Jenderal Sudirman Kavling 29 - 31, Jakarta, Indonesia, 12920 145 5th Floor, World Trade Center 1, Jl. Jend. Sudirman Kav. 29-31, Jakarta, Indonesia, 12920 146 75 Park Lane, Croydon, Surrey, United Kingdom, CR9 1XS 147 Unit B02 20/F No. 168 Yin Cheng Zhong Road, Pilot Free Trade Zone, Shanghai, China, 200120 148 No.198-2 Chengshan Avenue (E), Rongcheng, China, 264300 Registered offices 149 Room 1303-13062 Marine Center Main Tower, 59 Linhai Rd, Nanshan District, Shenzhen, China 150 Woodbourne Hall, Road Town, Tortola, British Virgin Islands, P.O. Box 3162 151 43 rue de Paris, Saint Denis, France, 97400 152 RM 2112, HSBC Building, Shanghai ifc No. 8 Century Road, Pudong, Shanghai, China, 200120 153 Esentepe mah. Büyükdere Caddesi No.128, Istanbul, Turkey, 34394 154 11 Dr. Roy’s Drive PO Box 694GT, Grand Cayman, Cayman Islands, KY1-1107 155 Lot 6.05, Level 6, KPMG Tower 8 First Avenue, Bandar Utama, Petaling Jaya, Selangor Darul Ehsan, Malaysia 156 18/F Unit 2101, 2113, 2113A, 2115 and 2116 of 21/F, HSBC Building, 8 Century Avenue, China (Shanghai) Pilot Free Trade Zone, Shanghai, China, 200120 157 3 More London Riverside, London, United Kingdom, SE1 2AQ 158 c/o MUFG Fund Services (Bermuda) Limited The Belvedere Building, 69 Pitts Bay Road, Pembroke, Bermuda, HM 159 c/o Hackwood Secretaries Limited One Silk Street, London, United Kingdom, EC2Y 8HQ 160 All Saints Triangle Caledonian road, London, United Kingdom, N19UT 161 No.188, Yin Cheng Zhong Road China (Shanghai), Pilot Free Trade Zone, Shanghai, China 162 49/F The Lee Gardens, 33 Hysan Avenue, Hong Kong 163 13-15 York Buildings, London, United Kingdom, WC2N 6JU 164 First Floor The Bower, 207 Old Street, England, United Kingdom, EC1V 9NR 165 Unit No. 208, 2nd Floor, Kanchenjunga Building 18, Barakhamba Road, New Delhi, India, 110001 166 65 Gresham Street 6th Floor, London, United Kingdom, EC2V 7NQ 167 PO 4978, Kigali, Rwanda 168 Plot LR No. 487 Dagoretti / Ruthimitu, P.O. Box 14362, Nairobi, Kenya, 00800 169 Plot No. 89-90 Mbezi Industrial Area Box 347, Dar es Salaam City, Tanzania, United Republic of Tanzania 170 3 avenue de l'Opera, Paris, France, 75001 Registered offices 171 37 avenue Henri Lafleur, Nouméa, New Caledonia, BP K3 98849 172 Room 1303, 106 Feng Ze Dong Road, Nansha District, Guangzhou, Guangdong, China 173 Flat 209, Hedge Fund Centre of Qianhai Shenzhen-Hong Kong Fund Town No. 128 Guiwan Five Road, Qianhai Shenzhen-Hong Kong Cooperation Zone, Shenzhen, China 174 17F, HSBC Building, Shanghai ifc 8 Century Avenue, Pudong, Shanghai, China 175 HSBC Building 7267 Olaya - Al Murrooj, Riyadh, Saudi Arabia, 12283 - 2255 176 C T Corporation System 1200 South Pine Island Road Plantation, Florida, United States of America, 33324 177 c/o Trident Trust Company Trident Chambers, PO Box 146, Tortola, British Virgin Islands 178 Office 705, Level 8, Tower 2, Al Fattan Currency House, DIFC, P.O.Box 506553, Dubai, UAE 179 Jayla Place Wickhams Cay I, PO Box 3190, Road Town, British Virgin Islands 180 32 rue du Champ de Tir, Nantes, France, 44300 181 Ernst-Schneider-Platz 1, Duesseldorf, Germany, 40212 182 Al Amir Abdulaziz Ibn Mossaad Ibn Jalawi Street, Riyadh, Saudi Arabia 183 Office Block A, Bay Studios Business Park, Fabian Way, Swansea, Wales, United Kingdom, SA1 8QB 184 10 Earlsfort Terrace, Dublin, Ireland, D02 T380 185 c/o Walkers Corporate Services Limited, Walker House, 87 Mary Street, George Town, Grand Cayman, KY1 – 90 186 Oak House Hirzel Street, St Peter Port, Guernsey, GY1 2NP 187 9/F Amtel Bldg, 148 des Voeux Rd Central, Central, Hong Kong 188 100 Town Square Place, Suite 201, Jersey City, NJ 07310, United States of America 189 1-2 Royal Exchange Buildings, Royal Exchange, London, United Kingdom, EC3V 3LF 190 25 W 25th St. New York, NY 10001, United States of America 191 50 Raffles Place, #32-01 Singapore Land Tower, 048623, Singapore 192 3 More London Riverside, London, United Kingdom, SE1 2AQ |
Report Of The Directors Finan_2
Report Of The Directors Financial Review Risk Report (Tables) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Report Of The Directors Financial Review Risk Report [Abstract] | ||
Disclosure of financial instruments impacted by IBOR reform | Financial instruments yet to transition to alternative benchmarks, by main benchmark USD Libor GBP Libor JPY Libor Others 1 At 31 Dec 2020 $m $m $m $m Non-derivative financial assets 2 94,148 46,587 371 10,763 Non-derivative financial liabilities 2 33,602 7,183 1,548 549 Derivative notional contract amount 3,045,337 1,196,865 508,200 514,959 1 Comprises financial instruments referencing other significant benchmark rates yet to transition to alternative benchmarks (Euro Libor, Swiss franc Libor, Eonia, SOR, MIFOR, THBFIX, PHIREF, TRLibor and Sibor). 2 Gross carrying amount excluding allowances for expected credit losses. | |
Disclosure of detailed information about financial instruments | Summary of financial instruments to which the impairment requirements in IFRS 9 are applied (Audited) 31 Dec 2020 At 31 Dec 2019 Gross carrying/nominal amount Allowance for ECL 1 Gross carrying/nominal amount Allowance for ECL 1 Footnotes $m $m $m $m Loans and advances to customers at amortised cost 1,052,477 (14,490) 1,045,475 (8,732) – personal 460,809 (4,731) 434,271 (3,134) – corporate and commercial 527,088 (9,494) 540,499 (5,438) – non-bank financial institutions 64,580 (265) 70,705 (160) Loans and advances to banks at amortised cost 81,658 (42) 69,219 (16) Other financial assets measured at amortised cost 772,408 (175) 615,179 (118) – cash and balances at central banks 304,486 (5) 154,101 (2) – items in the course of collection from other banks 4,094 — 4,956 — – Hong Kong Government certificates of indebtedness 40,420 — 38,380 — – reverse repurchase agreements – non-trading 230,628 — 240,862 — – financial investments 88,719 (80) 85,788 (53) – prepayments, accrued income and other assets 2 104,061 (90) 91,092 (63) Total gross carrying amount on-balance sheet 1,906,543 (14,707) 1,729,873 (8,866) Loans and other credit-related commitments 659,783 (734) 600,029 (329) – personal 236,170 (40) 223,314 (15) – corporate and commercial 299,802 (650) 278,524 (307) – non-bank financial institutions 123,811 (44) 98,191 (7) Financial guarantees 18,384 (125) 20,214 (48) – personal 900 (1) 804 (1) – corporate and commercial 12,946 (114) 14,804 (44) – non-bank financial institutions 4,538 (10) 4,606 (3) Total nominal amount off-balance sheet 3 678,167 (859) 620,243 (377) 2,584,710 (15,566) 2,350,116 (9,243) Fair value Memorandum allowance for ECL 4 Fair value Memorandum allowance for ECL 4 $m $m $m $m Debt instruments measured at fair value through other comprehensive income (‘FVOCI’) 399,717 (141) 355,664 (166) 1 The total ECL is recognised in the loss allowance for the financial asset unless the total ECL exceeds the gross carrying amount of the financial asset, in which case the ECL is recognised as a provision. 2 Includes only those financial instruments that are subject to the impairment requirements of IFRS 9. ‘Prepayments, accrued income and other assets’, as presented within the consolidated balance sheet on page 316, includes both financial and non-financial assets. 3 Represents the maximum amount at risk should the contracts be fully drawn upon and clients default. 4 Debt instruments measured at FVOCI continue to be measured at fair value with the allowance for ECL as a memorandum item. Change in ECL is recognised in ‘Change in expected credit losses and other credit impairment charges’ in the income statement. Maximum exposure to credit risk (Audited) 2020 2019 Maximum Offset Net Maximum Offset Net $m $m $m $m $m $m Loans and advances to customers held at amortised cost 1,037,987 (27,221) 1,010,766 1,036,743 (28,524) 1,008,219 – personal 456,078 (4,287) 451,791 431,137 (4,640) 426,497 – corporate and commercial 517,594 (21,102) 496,492 535,061 (21,745) 513,316 – non-bank financial institutions 64,315 (1,832) 62,483 70,545 (2,139) 68,406 Loans and advances to banks at amortised cost 81,616 — 81,616 69,203 — 69,203 Other financial assets held at amortised cost 774,116 (14,668) 759,448 616,648 (28,826) 587,822 – cash and balances at central banks 304,481 — 304,481 154,099 — 154,099 – items in the course of collection from other banks 4,094 — 4,094 4,956 — 4,956 – Hong Kong Government certificates of indebtedness 40,420 — 40,420 38,380 — 38,380 – reverse repurchase agreements – non-trading 230,628 (14,668) 215,960 240,862 (28,826) 212,036 – financial investments 88,639 — 88,639 85,735 — 85,735 – prepayments, accrued income and other assets 105,854 — 105,854 92,616 — 92,616 Derivatives 307,726 (293,240) 14,486 242,995 (232,908) 10,087 Total on-balance sheet exposure to credit risk 2,201,445 (335,129) 1,866,316 1,965,589 (290,258) 1,675,331 Total off-balance sheet 940,185 — 940,185 893,246 — 893,246 – financial and other guarantees 96,147 — 96,147 95,967 — 95,967 – loan and other credit-related commitments 844,038 — 844,038 797,279 — 797,279 At 31 Dec 3,141,630 (335,129) 2,806,501 2,858,835 (290,258) 2,568,577 Unamortised balance of derivatives valued using models with significant unobservable inputs 2020 2019 Footnotes $m $m Unamortised balance at 1 Jan 73 86 Deferral on new transactions 232 145 Recognised in the income statement during the year: (205) (154) – amortisation (116) (80) – subsequent to unobservable inputs becoming observable (4) (3) – maturity, termination or offsetting derivative (85) (71) Exchange differences 4 1 Other — (5) Unamortised balance at 31 Dec 1 104 73 | |
Disclosure of credit risk | Summary of credit risk (excluding debt instruments measured at FVOCI) by stage distribution and ECL coverage by industry sector at 31 December 2020 (Audited) Gross carrying/nominal amount 1 Allowance for ECL ECL coverage % Stage 1 Stage 2 Stage 3 POCI 2 Total Stage 1 Stage 2 Stage 3 POCI 2 Total Stage 1 Stage 2 Stage 3 POCI 2 Total $m $m $m $m $m $m $m $m $m $m % % % % % Loans and advances to customers at amortised cost 869,920 163,185 19,095 277 1,052,477 (1,974) (4,965) (7,439) (112) (14,490) 0.2 3.0 39.0 40.4 1.4 – personal 430,134 25,064 5,611 — 460,809 (827) (2,402) (1,502) — (4,731) 0.2 9.6 26.8 — 1.0 – corporate and commercial 387,563 126,287 12,961 277 527,088 (1,101) (2,444) (5,837) (112) (9,494) 0.3 1.9 45.0 40.4 1.8 – non-bank financial institutions 52,223 11,834 523 — 64,580 (46) (119) (100) — (265) 0.1 1.0 19.1 — 0.4 Loans and advances to banks at amortised cost 79,654 2,004 — — 81,658 (33) (9) — — (42) — 0.4 — — 0.1 Other financial assets measured at amortised cost 768,216 3,975 177 40 772,408 (80) (44) (42) (9) (175) — 1.1 23.7 22.5 — Loan and other credit-related commitments 604,485 54,217 1,080 1 659,783 (290) (365) (78) (1) (734) — 0.7 7.2 100.0 0.1 – personal 234,337 1,681 152 — 236,170 (39) (1) — — (40) — 0.1 — — — – corporate and commercial 253,062 45,851 888 1 299,802 (236) (338) (75) (1) (650) 0.1 0.7 8.4 100.0 0.2 – financial 117,086 6,685 40 — 123,811 (15) (26) (3) — (44) — 0.4 7.5 — — Financial guarantees 14,090 4,024 269 1 18,384 (37) (62) (26) — (125) 0.3 1.5 9.7 — 0.7 – personal 872 26 2 — 900 — (1) — — (1) — 3.8 — — 0.1 – corporate and commercial 9,536 3,157 252 1 12,946 (35) (54) (25) — (114) 0.4 1.7 9.9 — 0.9 – financial 3,682 841 15 — 4,538 (2) (7) (1) — (10) 0.1 0.8 6.7 — 0.2 At 31 Dec 2020 2,336,365 227,405 20,621 319 2,584,710 (2,414) (5,445) (7,585) (122) (15,566) 0.1 2.4 36.8 38.2 0.6 1 Represents the maximum amount at risk should the contracts be fully drawn upon and clients default. 2 Purchased or originated credit-impaired (‘POCI’). Summary of credit risk (excluding debt instruments measured at FVOCI) by stage distribution and ECL coverage by industry sector at 31 December 2019 (continued) (Audited) Gross carrying/nominal amount 1 Allowance for ECL ECL coverage % Stage 1 Stage 2 Stage 3 POCI 2 Total Stage 1 Stage 2 Stage 3 POCI 2 Total Stage 1 Stage 2 Stage 3 POCI 2 Total $m $m $m $m $m $m $m $m $m $m % % % % % Loans and advances to customers at amortised cost 951,583 80,182 13,378 332 1,045,475 (1,297) (2,284) (5,052) (99) (8,732) 0.1 2.8 37.8 29.8 0.8 – personal 413,669 15,751 4,851 — 434,271 (583) (1,336) (1,215) — (3,134) 0.1 8.5 25.0 — 0.7 – corporate and commercial 472,253 59,599 8,315 332 540,499 (672) (920) (3,747) (99) (5,438) 0.1 1.5 45.1 29.8 1.0 – non-bank financial institutions 65,661 4,832 212 — 70,705 (42) (28) (90) — (160) 0.1 0.6 42.5 — 0.2 Loans and advances to banks at amortised cost 67,769 1,450 — — 69,219 (14) (2) — — (16) — 0.1 — — — Other financial assets measured at amortised cost 613,200 1,827 151 1 615,179 (38) (38) (42) — (118) — 2.1 27.8 — — Loan and other credit-related commitments 577,631 21,618 771 9 600,029 (137) (133) (59) — (329) — 0.6 7.7 — 0.1 – personal 221,490 1,630 194 — 223,314 (13) (2) — — (15) — 0.1 — — — – corporate and commercial 259,138 18,804 573 9 278,524 (118) (130) (59) — (307) — 0.7 10.3 — 0.1 – financial 97,003 1,184 4 — 98,191 (6) (1) — — (7) — 0.1 — — — Financial guarantees 17,684 2,340 186 4 20,214 (16) (22) (10) — (48) 0.1 0.9 5.4 — 0.2 – personal 802 1 1 — 804 (1) — — — (1) 0.1 — — — 0.1 – corporate and commercial 12,540 2,076 184 4 14,804 (14) (21) (9) — (44) 0.1 1.0 4.9 — 0.3 – financial 4,342 263 1 — 4,606 (1) (1) (1) — (3) — 0.4 100.0 — 0.1 At 31 Dec 2019 2,227,867 107,417 14,486 346 2,350,116 (1,502) (2,479) (5,163) (99) (9,243) 0.1 2.3 35.6 28.6 0.4 1 Represents the maximum amount at risk should the contracts be fully drawn upon and clients default. 2 Purchased or originated credit-impaired (‘POCI’). | |
Disclosure of financial assets that are either past due or impaired | Stage 2 days past due analysis at 31 December 2020 (Audited) Gross carrying amount Allowance for ECL ECL coverage % Stage 2 Up-to-date 1 to 29 DPD 1,2 30 and > DPD 1,2 Stage 2 Up-to-date 1 to 29 DPD 1,2 30 and > DPD 1,2 Stage 2 Up-to-date 1 to 29 DPD 1,2 30 and > DPD 1,2 $m $m $m $m $m $m $m $m % % % % Loans and advances to customers at amortised cost 163,185 159,367 2,052 1,766 (4,965) (4,358) (275) (332) 3.0 2.7 13.4 18.8 – personal 25,064 22,250 1,554 1,260 (2,402) (1,895) (227) (280) 9.6 8.5 14.6 22.2 – corporate and commercial 126,287 125,301 489 497 (2,444) (2,344) (48) (52) 1.9 1.9 9.8 10.5 – non-bank financial institutions 11,834 11,816 9 9 (119) (119) — — 1.0 1.0 — — Loans and advances to banks at amortised cost 2,004 2,004 — — (9) (9) — — 0.4 0.4 — — Other financial assets measured at amortised cost 3,975 3,963 3 9 (44) (44) — — 1.1 1.1 — — 1 Days past due (‘DPD’). 2 The days past due amounts presented above are on a contractual basis and include the benefit of any customer relief payment holidays granted. Stage 2 days past due analysis at 31 December 2019 (Audited) Gross carrying amount Allowance for ECL ECL coverage % Stage 2 Up-to-date 1 to 29 DPD 1 30 and > DPD 1 Stage 2 Up-to-date 1 to 29 DPD 1 30 and > DPD 1 Stage 2 Up-to-date 1 to 29 DPD 1 30 and > DPD 1 $m $m $m $m $m $m $m $m % % % % Loans and advances to customers at amortised cost 80,182 76,035 2,471 1,676 (2,284) (1,829) (208) (247) 2.8 2.4 8.4 14.7 – personal 15,751 12,658 1,804 1,289 (1,336) (941) (178) (217) 8.5 7.4 9.9 16.8 – corporate and commercial 59,599 58,557 657 385 (920) (860) (30) (30) 1.5 1.5 4.6 7.8 – non-bank financial institutions 4,832 4,820 10 2 (28) (28) — — 0.6 0.6 — — Loans and advances to banks at amortised cost 1,450 1,450 — — (2) (2) — — 0.1 0.1 — — Other financial assets measured at amortised cost 1,827 1,783 14 30 (38) (38) — — 2.1 2.1 — — 1 Days past due (‘DPD’). Management judgemental adjustments to ECL 1 Retail Wholesale Total $bn $bn $bn Low-risk counterparties (banks, sovereigns and government entities) — (0.7) (0.7) Corporate lending adjustments — 0.5 0.5 Retail lending PD adjustments (0.8) (0.8) Retail model default suppression adjustment 1.9 — 1.9 Other retail lending adjustments 0.4 — 0.4 Total 1.5 (0.2) 1.3 1 Management judgemental adjustments presented in the table reflect increases or (decreases) to ECL, respectively. Distribution of financial instruments by credit quality at 31 December 2020 (Audited) Gross carrying/notional amount Allowance for ECL/other credit provisions Net Strong Good Satisfactory Sub-standard Credit impaired Total $m $m $m $m $m $m $m $m In-scope for IFRS 9 Loans and advances to customers held at amortised cost 506,231 233,320 256,584 36,970 19,372 1,052,477 (14,490) 1,037,987 – personal 357,821 53,892 38,520 4,965 5,611 460,809 (4,731) 456,078 – corporate and commercial 120,971 158,601 203,560 30,718 13,238 527,088 (9,494) 517,594 – non-bank financial institutions 27,439 20,827 14,504 1,287 523 64,580 (265) 64,315 Loans and advances to banks held at amortised cost 71,318 5,496 3,568 1,276 — 81,658 (42) 81,616 Cash and balances at central banks 302,028 1,388 1,070 — — 304,486 (5) 304,481 Items in the course of collection from other banks 4,079 9 6 — — 4,094 — 4,094 Hong Kong Government certificates of indebtedness 40,420 — — — — 40,420 — 40,420 Reverse repurchase agreements – non-trading 177,457 40,461 12,398 312 — 230,628 — 230,628 Financial investments 77,361 9,781 1,537 1 39 88,719 (80) 88,639 Prepayments, accrued income and other assets 81,886 10,129 11,570 298 178 104,061 (90) 103,971 – endorsements and acceptances 1,458 4,355 4,245 229 20 10,307 (30) 10,277 – accrued income and other 80,428 5,774 7,325 69 158 93,754 (60) 93,694 Debt instruments measured at fair value through other comprehensive income 1 367,685 12,678 10,409 825 306 391,903 (141) 391,762 Out-of-scope for IFRS 9 Trading assets 117,972 14,694 20,809 829 43 154,347 — 154,347 Other financial assets designated and otherwise mandatorily measured at fair value through profit or loss 6,440 2,378 1,827 109 — 10,754 — 10,754 Derivatives 243,005 54,581 8,709 1,359 72 307,726 — 307,726 Total gross carrying amount on balance sheet 1,995,882 384,915 328,487 41,979 20,010 2,771,273 (14,848) 2,756,425 Percentage of total credit quality 72.0% 13.9% 11.9% 1.5% 0.7% 100% Loan and other credit-related commitments 400,911 157,339 90,784 9,668 1,081 659,783 (734) 659,049 Financial guarantees 6,356 5,194 5,317 1,247 270 18,384 (125) 18,259 In-scope: Irrevocable loan commitments and financial guarantees 407,267 162,533 96,101 10,915 1,351 678,167 (859) 677,308 Loan and other credit-related commitments 59,392 62,664 59,666 2,837 430 184,989 — 184,989 Performance and other guarantees 26,082 27,909 21,256 2,112 755 78,114 (226) 77,888 Out-of-scope: Revocable loan commitments and non-financial guarantees 85,474 90,573 80,922 4,949 1,185 263,103 (226) 262,877 1 For the purposes of this disclosure, gross carrying value is defined as the amortised cost of a financial asset before adjusting for any loss allowance. As such, the gross carrying value of debt instruments at FVOCI as presented above will not reconcile to the balance sheet as it excludes fair value gains and losses. Distribution of financial instruments by credit quality at 31 December 2019 (continued) (Audited) Gross carrying/notional amount Allowance for ECL/other credit provisions Net Strong Good Satisfactory Sub- standard Credit impaired Total $m $m $m $m $m $m $m $m In-scope for IFRS 9 Loans and advances to customers held at amortised cost 524,889 258,402 228,485 20,007 13,692 1,045,475 (8,732) 1,036,743 – personal 354,461 45,037 27,636 2,286 4,851 434,271 (3,134) 431,137 – corporate and commercial 138,126 190,470 186,383 16,891 8,629 540,499 (5,438) 535,061 – non-bank financial institutions 32,302 22,895 14,466 830 212 70,705 (160) 70,545 Loans and advances to banks held at amortised cost 60,636 5,329 1,859 1,395 — 69,219 (16) 69,203 Cash and balances at central banks 151,788 1,398 915 — — 154,101 (2) 154,099 Items in the course of collection from other banks 4,935 18 3 — — 4,956 — 4,956 Hong Kong Government certificates of indebtedness 38,380 — — — — 38,380 — 38,380 Reverse repurchase agreements – non-trading 193,157 37,947 9,621 137 — 240,862 — 240,862 Financial investments 78,318 6,503 906 61 — 85,788 (53) 85,735 Prepayments, accrued income and other assets 70,675 8,638 11,321 306 152 91,092 (63) 91,029 – endorsements and acceptances 1,133 4,651 4,196 230 4 10,214 (16) 10,198 – accrued income and other 69,542 3,987 7,125 76 148 80,878 (47) 80,831 Debt instruments measured at fair value through other comprehensive income 1 333,158 10,966 7,222 544 1 351,891 (166) 351,725 Out-of-scope for IFRS 9 Trading assets 135,059 15,240 22,964 2,181 — 175,444 — 175,444 Other financial assets designated and otherwise mandatorily measured at fair value through profit or loss 4,655 1,391 5,584 139 — 11,769 — 11,769 Derivatives 187,636 42,642 11,894 821 2 242,995 — 242,995 Total gross carrying amount on balance sheet 1,783,286 388,474 300,774 25,591 13,847 2,511,972 (9,032) 2,502,940 Percentage of total credit quality 70.9% 15.5% 12.0% 1.0% 0.6% 100% Loan and other credit-related commitments 369,424 146,988 77,499 5,338 780 600,029 (329) 599,700 Financial guarantees 7,441 6,033 5,539 1,011 190 20,214 (48) 20,166 In-scope: Irrevocable loan commitments and financial guarantees 376,865 153,021 83,038 6,349 970 620,243 (377) 619,866 Loan and other credit-related commitments 66,148 69,890 58,754 2,605 182 197,579 — 197,579 Performance and other guarantees 30,099 23,335 20,062 2,057 380 75,933 (132) 75,801 Out-of-scope: Revocable loan commitments and non-financial guarantees 96,247 93,225 78,816 4,662 562 273,512 (132) 273,380 1 For the purposes of this disclosure, gross carrying value is defined as the amortised cost of a financial asset before adjusting for any loss allowance. As such, the gross carrying value of debt instruments at FVOCI as presented above will not reconcile to the balance sheet as it excludes fair value gains and losses. Distribution of financial instruments to which the impairment requirements in IFRS 9 are applied, by credit quality and stage allocation (Audited) Gross carrying/notional amount Allowance for ECL Net Strong Good Satisfactory Sub- Credit impaired Total Footnotes $m $m $m $m $m $m $m $m Loans and advances to customers at amortised cost 506,231 233,320 256,584 36,970 19,372 1,052,477 (14,490) 1,037,987 – stage 1 499,836 199,138 165,507 5,439 — 869,920 (1,974) 867,946 – stage 2 6,395 34,182 91,077 31,531 — 163,185 (4,965) 158,220 – stage 3 — — — — 19,095 19,095 (7,439) 11,656 – POCI — — — — 277 277 (112) 165 Loans and advances to banks at amortised cost 71,318 5,496 3,568 1,276 — 81,658 (42) 81,616 – stage 1 71,126 5,098 3,357 73 — 79,654 (33) 79,621 – stage 2 192 398 211 1,203 — 2,004 (9) 1,995 – stage 3 — — — — — — — — – POCI — — — — — — — — Other financial assets measured at amortised cost 683,231 61,768 26,581 611 217 772,408 (175) 772,233 – stage 1 682,412 61,218 24,532 54 — 768,216 (80) 768,136 – stage 2 819 550 2,049 557 — 3,975 (44) 3,931 – stage 3 — — — — 177 177 (42) 135 – POCI — — — — 40 40 (9) 31 Loan and other credit-related commitments 400,911 157,339 90,784 9,668 1,081 659,783 (734) 659,049 – stage 1 396,028 143,600 63,592 1,265 — 604,485 (290) 604,195 – stage 2 4,883 13,739 27,192 8,403 — 54,217 (365) 53,852 – stage 3 — — — — 1,080 1,080 (78) 1,002 – POCI — — — — 1 1 (1) — Financial guarantees 6,356 5,194 5,317 1,247 270 18,384 (125) 18,259 – stage 1 6,286 4,431 3,163 210 — 14,090 (37) 14,053 – stage 2 70 763 2,154 1,037 — 4,024 (62) 3,962 – stage 3 — — — — 269 269 (26) 243 – POCI — — — — 1 1 — 1 At 31 Dec 2020 1,668,047 463,117 382,834 49,772 20,940 2,584,710 (15,566) 2,569,144 Debt instruments at FVOCI 1 – stage 1 367,542 12,585 10,066 — — 390,193 (88) 390,105 – stage 2 143 93 343 825 — 1,404 (20) 1,384 – stage 3 — — — — 257 257 (23) 234 – POCI — — — — 49 49 (10) 39 At 31 Dec 2020 367,685 12,678 10,409 825 306 391,903 (141) 391,762 1 For the purposes of this disclosure, gross carrying value is defined as the amortised cost of a financial asset before adjusting for any loss allowance. As such, the gross carrying value of debt instruments at FVOCI as presented above will not reconcile to the balance sheet as it excludes fair value gains and losses. Distribution of financial instruments to which the impairment requirements in IFRS 9 are applied, by credit quality and stage allocation (continued) (Audited) Gross carrying/notional amount Strong Good Satisfactory Sub-standard Credit impaired Total Allowance for ECL Net Footnotes $m $m $m $m $m $m $m $m Loans and advances to customers at amortised cost 524,889 258,402 228,485 20,007 13,692 1,045,475 (8,732) 1,036,743 – stage 1 523,092 242,631 181,056 4,804 — 951,583 (1,297) 950,286 – stage 2 1,797 15,771 47,429 15,185 — 80,182 (2,284) 77,898 – stage 3 — — — — 13,378 13,378 (5,052) 8,326 – POCI — — — 18 314 332 (99) 233 Loans and advances to banks at amortised cost 60,636 5,329 1,859 1,395 — 69,219 (16) 69,203 – stage 1 60,548 5,312 1,797 112 — 67,769 (14) 67,755 – stage 2 88 17 62 1,283 — 1,450 (2) 1,448 – stage 3 — — — — — — — — – POCI — — — — — — — — Other financial assets measured at amortised cost 537,253 54,505 22,766 503 152 615,179 (118) 615,061 – stage 1 536,942 54,058 21,921 279 — 613,200 (38) 613,162 – stage 2 311 447 845 224 — 1,827 (38) 1,789 – stage 3 — — — — 151 151 (42) 109 – POCI — — — — 1 1 — 1 Loan and other credit-related commitments 369,424 146,988 77,499 5,338 780 600,029 (329) 599,700 – stage 1 368,711 141,322 66,283 1,315 — 577,631 (137) 577,494 – stage 2 713 5,666 11,216 4,023 — 21,618 (133) 21,485 – stage 3 — — — — 771 771 (59) 712 – POCI — — — — 9 9 — 9 Financial guarantees 7,441 6,033 5,539 1,011 190 20,214 (48) 20,166 – stage 1 7,400 5,746 4,200 338 — 17,684 (16) 17,668 – stage 2 41 287 1,339 673 — 2,340 (22) 2,318 – stage 3 — — — — 186 186 (10) 176 – POCI — — — — 4 4 — 4 At 31 Dec 2019 1,499,643 471,257 336,148 28,254 14,814 2,350,116 (9,243) 2,340,873 Debt instruments at FVOCI 1 – stage 1 333,072 10,941 6,902 — — 350,915 (39) 350,876 – stage 2 86 25 320 544 — 975 (127) 848 – stage 3 — — — — — — — — – POCI — — — — 1 1 — 1 At 31 Dec 2019 333,158 10,966 7,222 544 1 351,891 (166) 351,725 1 For the purposes of this disclosure, gross carrying value is defined as the amortised cost of a financial asset before adjusting for any loss allowance. As such, the gross carrying value of debt instruments at FVOCI as presented above will not reconcile to the balance sheet as it excludes fair value gains and losses. | |
Disclosure of macroeconomic variables and probabilities | The following table describes key macroeconomic variables and the probabilities assigned in the consensus Central scenario. Central scenario 2021–2025 UK US Hong Kong Mainland China Canada France UAE Mexico % % % % % % % % GDP growth rate 2020: Annual average growth rate (11.0) (4.1) (6.4) 2.0 (6.1) (9.7) (6.3) (9.7) 2021: Annual average growth rate 4.9 3.8 4.3 7.8 5.0 5.9 3.0 3.7 2022: Annual average growth rate 3.1 2.9 2.9 5.3 3.1 2.9 3.6 2.5 2023: Annual average growth rate 2.4 2.4 2.6 5.2 2.4 2.2 3.9 2.4 5-year average 2.8 2.7 2.9 5.6 2.9 2.9 3.4 2.6 Unemployment rate 2020: Annual average rate 4.6 8.3 5.8 3.9 9.6 7.9 3.1 5.4 2021: Annual average rate 6.9 6.7 5.0 4.1 7.9 10.0 2.7 5.3 2022: Annual average rate 5.8 5.8 3.9 4.2 6.8 9.1 2.6 4.7 2023: Annual average rate 5.4 4.9 3.8 4.1 6.5 8.8 2.7 4.5 5-year average 5.6 5.3 4.0 4.0 6.8 9.0 2.7 4.6 House price growth 2020: Annual average growth rate 2.3 6.0 (0.8) 2.3 5.7 4.4 (11.6) 5.5 2021: Annual average growth rate (2.1) 4.0 (2.2) 4.7 2.1 (0.5) (9.8) 3.4 2022: Annual average growth rate 0.9 4.3 2.4 5.7 2.0 4.1 (1.3) 5.0 2023: Annual average growth rate 3.0 4.0 5.2 5.0 3.1 4.1 2.6 4.6 5-year average 1.9 4.0 2.3 4.7 2.7 2.8 — 4.2 Short-term interest rate 2020: Annual average rate 0.3 0.7 1.2 3.2 0.8 (0.4) 1.0 5.7 2021: Annual average rate 0.1 0.3 1.0 2.9 0.5 (0.5) 0.8 4.5 2022: Annual average rate 0.1 0.3 1.1 3.0 0.6 (0.5) 0.8 4.7 2023: Annual average rate 0.1 0.4 1.2 3.1 0.8 (0.5) 0.9 5.2 5-year average 0.2 0.5 1.3 3.1 0.8 (0.5) 1.0 5.2 Probability 40 65 70 80 70 40 65 65 Consensus Upside scenario best outcome UK US Hong Mainland Canada France UAE Mexico % % % % % % % % GDP growth rate 19.9 (2Q21) 11.8 (2Q21) 13.8 (4Q21) 20.5 (1Q21) 15.8 (2Q21) 19.5 (2Q21) 13.8 (4Q21) 16.8 (2Q21) Unemployment rate 3.7 (4Q22) 3.9 (4Q22) 3.0 (3Q22) 3.9 (4Q21) 5.3 (3Q22) 7.9 (4Q22) 2.2 (4Q21) 3.6 (3Q22) House price growth 6.9 (4Q22) 6.4 (1Q22) 4.9 (1Q22) 12.2 (1Q22) 5.2 (1Q21) 5.7 (2Q22) 18.5 (1Q22) 8.2 (3Q22) Short-term interest rate 0.1 (2Q22) 0.4 (1Q21) 1.1 (1Q21) 3.0 (1Q21) 0.6 (1Q21) (0.4) (1Q21) 0.9 (1Q21) 5.0 (1Q21) Probability consensus Upside 5 5 5 10 10 5 5 5 Note: Extreme point in the consensus Upside is ‘best outcome’ in the scenario, for example the highest GDP growth and the lowest unemployment rate, in the first two years of the scenario. The following table describes key macroeconomic variables and the probabilities assigned in the consensus Downside scenario. Consensus Downside scenario worst outcome UK US Hong Mainland Canada France UAE Mexico % % % % % % % % GDP growth rate (7.6) (1Q21) (3.4) (1Q21) (2.1) (3Q21) (1.3) (4Q21) (3.6) (1Q21) (3.0) (1Q21) (7.3) (1Q21) (8.0) (1Q21) Unemployment rate 9.4 (4Q21) 8.2 (2Q21) 6.4 (1Q21) 4.3 (3Q22) 9.2 (1Q21) 11.2 (1Q21) 3.0 (1Q21) 6.2 (3Q21) House price growth (10.8) (4Q21) 0.1 (3Q21) (6.8) (3Q21) 0.3 (4Q21) (1.3) (1Q22) (3.3) (2Q21) (19.2) (2Q21) 1.0 (4Q21) Short-term interest rate 0.1 (1Q21) 0.3 (1Q22) 1.1 (4Q22) 2.8 (1Q21) 0.5 (1Q21) (0.5) (1Q21) 0.8 (1Q22) 3.8 (1Q21) Probability consensus Downside 40 25 20 8 10 40 25 25 Note: Extreme point in the consensus Downside is 'worst outcome' in the scenario, for example lowest GDP growth and the highest unemployment rate, in the first two years of the scenario. Additional Downside scenario worst outcome UK US Hong Mainland Canada France UAE Mexico % % % % % % % % GDP growth rate (10.1) (1Q21) (4.2) (1Q21) (8.3) (4Q21) (9.5) (4Q21) (5.0) (1Q21) (6.7) (1Q21) (12.2) (1Q21) (10.9) (1Q21) Unemployment rate 9.8 (3Q21) 11.4 (4Q22) 6.7 (3Q21) 6.1 (3Q22) 11.3 (1Q21) 12.3 (1Q21) 3.9 (1Q21) 6.9 (4Q21) House price growth (14.5) (4Q21) (9.3) (3Q21) (21.0) (4Q21) (19.4) (4Q21) (10.4) (4Q21) (7.1) (3Q21) (22.9) (2Q21) (2.7) (4Q21) Short-term interest rate 0.8 (2Q21) 1.1 (1Q21) 1.3 (1Q21) 4.0 (2Q21) 0.4 (1Q21) 0.2 (2Q21) 0.5 (3Q21) 6.7 (2Q21) Probability additional Downside 15 5 5 2 10 15 5 5 Wholesale analysis IFRS 9 ECL sensitivity to future economic conditions Gross carrying amount 2 Reported ECL Central scenario ECL Upside scenario ECL Downside scenario ECL Additional Downside scenario ECL ECL of loans and advances to customers at 31 December 2020 1 $m $m $m $m $m $m UK 430,555 2,077 1,514 1,026 2,271 3,869 US 201,263 369 314 219 472 723 Hong Kong 452,983 474 388 211 672 1,363 Mainland China 118,163 116 93 28 252 1,158 Canada 85,720 183 140 82 253 528 Mexico 25,920 246 222 177 285 437 UAE 44,777 250 241 190 330 536 France 164,899 117 109 97 131 238 IFRS 9 ECL sensitivity to future economic conditions 3 Gross carrying amount 2 Reported ECL Central scenario ECL Upside scenario ECL Downside scenario ECL Alternative scenarios ECL 4 ECL of loans and advances to customers at 31 December 2019 1 $m $m $m $m $m $m UK 346,035 725 536 480 635 1,050–2,100 US 203,610 148 149 132 161 Hong Kong 418,102 328 243 241 244 550-700 Mainland China 104,004 124 118 95 106 150 Canada 74,620 80 79 63 108 Mexico 32,632 69 68 48 99 UAE 42,304 97 97 89 108 France 124,618 55 53 50 79 1 ECL sensitivity includes off-balance sheet financial instruments that are subject to significant measurement uncertainty. 2 Includes low credit-risk financial instruments such as debt instruments at FVOCI, which have high carrying amounts but low ECL under all the above scenarios. 3 ECL sensitivities for 2019 exclude portfolios utilising less complex modelling approaches and management judgemental adjustments only included in reported ECL. 4 The UK alternative Downside (‘AD’) scenario 1 had an ECL impact of $1bn with AD2 and AD3 scenarios with ECL impacts of $1.9bn and $2.1bn respectively. The Hong Kong AD1 and AD2 scenarios had an impact of $0.55bn and $0.7bn respectively. IFRS 9 ECL sensitivity to future economic conditions 1 Gross carrying amount Reported ECL Central scenario ECL Upside scenario ECL Downside scenario ECL Additional Downside scenario ECL of loans and advances to customers at 31 December 2020 2 $m $m $m $m $m $m UK Mortgages 146,478 197 182 172 205 221 Credit cards 7,869 857 774 589 904 1,084 Other 9,164 897 795 471 1,022 1,165 Mexico Mortgages 3,896 111 101 79 136 167 Credit cards 1,113 260 255 243 269 290 Other 2,549 436 428 411 451 491 Hong Kong Mortgages 89,943 — — — — — Credit cards 7,422 266 259 247 277 405 Other 6,020 112 105 102 115 130 UAE Mortgages 1,889 66 63 53 73 78 Credit cards 426 92 81 62 107 126 Other 683 38 37 33 41 46 France Mortgages 24,565 68 68 68 69 70 Other 1,725 88 87 85 88 91 US Mortgages 15,399 41 39 38 41 53 Credit cards 570 86 84 81 88 119 Canada Mortgages 22,454 31 30 29 31 36 Credit cards 260 9 9 8 9 9 Other 1,775 22 21 20 24 28 IFRS 9 ECL sensitivity to future economic conditions 1 (continued) Gross carrying amount Reported ECL Central scenario ECL Upside scenario ECL Downside scenario ECL Alternative scenarios ECL ECL of loans and advances to customers at 31 December 2019 2 $m $m $m $m $m $m UK Mortgages 130,079 123 33 28 38 50-80 Credit cards 9,359 431 421 376 506 670-930 Other 10,137 382 318 282 374 490-700 Mexico Mortgages 3,385 32 31 24 41 Credit cards 1,295 211 211 190 231 Other 3,001 341 340 312 380 Hong Kong Mortgages 86,448 0 0 0 0 0 Credit cards 7,795 243 201 191 201 400 Other 7,446 105 95 90 104 130 UAE Mortgages 1,983 92 92 83 91 Credit cards 513 54 54 49 72 Other 895 28 28 26 31 France Mortgages 21,374 60 60 59 60 Other 1,643 73 73 73 74 US Mortgages 14,732 22 22 21 24 Credit cards 738 68 68 62 74 Canada Mortgages 19,843 15 14 13 16 Credit cards 270 7 7 7 7 Other 2,231 17 17 16 18 1 ECL sensitivities exclude portfolios utilising less complex modelling approaches. 2 ECL sensitivity includes only on-balance sheet financial instruments to which IFRS 9 impairment requirements are applied. Retail 1 Wholesale 1 Total Group ECL 2020 $bn $bn Reported ECL 4.5 4.5 Scenarios 100% consensus Central scenario (0.3) (0.9) 100% consensus Downside scenario 0.3 1.0 100% additional Downside scenario 1.3 5.9 Retail 1 Wholesale Total Group ECL 2019 $bn $bn Reported ECL 2.9 2.0 Scenarios 100% consensus Central scenario (0.2) (0.3) 100% consensus Downside scenario 0.1 — 100% alternative Downside scenario n/a n/a 1 On the same basis as retail and wholesale sensitivity analysis. | |
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments | Reconciliation of changes in gross carrying/nominal amount and allowances for loans and advances to banks and customers including loan commitments and financial guarantees (Audited) Non-credit impaired Credit impaired Stage 1 Stage 2 Stage 3 POCI Total Gross carrying/ nominal amount Allowance for ECL Gross carrying/ nominal amount Allowance for ECL Gross carrying/ nominal amount Allowance for ECL Gross carrying/ nominal amount Allowance for ECL Gross carrying/ nominal amount Allowance for ECL $m $m $m $m $m $m $m $m $m $m At 1 Jan 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: (129,236) (1,122) 116,783 1,951 12,453 (829) — — — — – transfers from stage 1 to stage 2 (298,725) 947 298,725 (947) — — — — — — – transfers from stage 2 to stage 1 172,894 (2,073) (172,894) 2,073 — — — — — — – transfers to stage 3 (3,942) 30 (10,320) 986 14,262 (1,016) — — — — – transfers from stage 3 537 (26) 1,272 (161) (1,809) 187 — — — — Net remeasurement of ECL arising from transfer of stage — 907 — (1,158) — (750) — — — (1,001) New financial assets originated or purchased 437,836 (653) — — — — 25 (1) 437,861 (654) Assets derecognised (including final repayments) (313,347) 160 (37,409) 464 (3,430) 485 (23) 2 (354,209) 1,111 Changes to risk parameters – further lending/repayment (83,147) 157 29,092 85 (597) 248 (50) (2) (54,702) 488 Changes to risk parameters – credit quality — (408) — (4,374) — (4,378) — (39) — (9,199) Changes to models used for ECL calculation — 134 — 294 — 5 — — — 433 Assets written off — — — — (2,946) 2,944 (30) 30 (2,976) 2,974 Credit-related modifications that resulted in derecognition — — — — (23) 7 — — (23) 7 Foreign exchange 32,808 (47) 9,123 (223) 633 (163) 4 (3) 42,568 (436) Others (76) 5 292 (1) (1) 8 8 (1) 223 11 At 31 Dec 2020 1,506,451 (2,331) 223,432 (5,403) 20,424 (7,544) 279 (113) 1,750,586 (15,391) ECL income statement change for the period 297 (4,689) (4,390) (40) (8,822) Recoveries 326 Others (84) Total ECL income statement change for the period (8,580) At 31 Dec 2020 12 months ended Gross carrying/nominal amount Allowance for ECL ECL charge $m $m $m As above 1,750,586 (15,391) (8,580) Other financial assets measured at amortised cost 772,408 (175) (95) Non-trading reverse purchase agreement commitments 61,716 — — Performance and other guarantees not considered for IFRS 9 — — (94) Summary of financial instruments to which the impairment requirements in IFRS 9 are applied/Summary consolidated income statement 2,584,710 (15,566) (8,769) Debt instruments measured at FVOCI 399,717 (141) (48) Total allowance for ECL/total income statement ECL change for the period n/a (15,707) (8,817) Reconciliation of changes in gross carrying/nominal amount and allowances for loans and advances to banks and customers including loan commitments and financial guarantees (Audited) Non-credit impaired Credit impaired Total Stage 1 Stage 2 Stage 3 POCI Gross exposure Allowance/ provision for ECL Gross exposure Allowance/ provision for ECL Gross exposure Allowance/ provision for ECL Gross exposure Allowance/ provision for ECL Gross exposure Allowance/ provision for ECL $m $m $m $m $m $m $m $m $m $m At 1 Jan 2019 1,502,976 (1,449) 95,104 (2,278) 14,232 (5,135) 334 (194) 1,612,646 (9,056) Transfers of financial instruments: (36,244) (543) 31,063 1,134 5,181 (591) — — — — – transfers from stage 1 to stage 2 (108,434) 487 108,434 (487) — — — — — — – transfers from stage 2 to stage 1 73,086 (1,044) (73,086) 1,044 — — — — — — – transfers to stage 3 (1,284) 59 (5,022) 665 6,306 (724) — — — — – transfers from stage 3 388 (45) 737 (88) (1,125) 133 — — — — Net remeasurement of ECL arising from transfer of stage — 669 — (676) — (114) — — — (121) New financial assets originated or purchased 504,064 (534) — — — — 135 (21) 504,199 (555) Assets derecognised (including final repayments) (352,961) 112 (19,909) 553 (2,712) 656 (26) 8 (375,608) 1,329 Changes to risk parameters – further lending/repayment (72,239) 291 (2,560) 67 402 (6) 28 12 (74,369) 364 Changes to risk parameters – credit quality — 2 — (1,208) — (2,704) — (51) — (3,961) Changes to models used for ECL calculation — (6) — 4 — 14 — — — 12 Assets written off — — — — (2,657) 2,657 (140) 140 (2,797) 2,797 Credit-related modifications that resulted in derecognition — — — — (268) 125 — — (268) 125 Foreign exchange 16,838 (9) 1,201 (40) 160 (31) 1 1 18,200 (79) Others (821) 3 652 3 (3) 8 13 6 (159) 20 At 31 Dec 2019 1,561,613 (1,464) 105,551 (2,441) 14,335 (5,121) 345 (99) 1,681,844 (9,125) ECL income statement change for the period 534 (1,260) (2,154) (52) (2,932) Recoveries 361 Others (20) Total ECL income statement change for the period (2,591) At 31 Dec 2019 12 months ended 31 Dec 2019 Gross carrying/nominal amount Allowance for ECL ECL charge $m $m $m As above 1,681,844 (9,125) (2,591) Other financial assets measured at amortised cost 615,179 (118) (26) Non-trading reverse purchase agreement commitments 53,093 — — Performance and other guarantees not considered for IFRS 9 — — (34) Summary of financial instruments to which the impairment requirements in IFRS 9 are applied/ Summary consolidated income statement 2,350,116 (9,243) (2,651) Debt instruments measured at FVOCI 355,664 (166) (105) Total allowance for ECL/total income statement ECL change for the period n/a (9,409) (2,756) Wholesale lending – reconciliation of changes in gross carrying/nominal amount and allowances for loans and advances to banks and customers including loan commitments and financial guarantees (Audited) Non-credit impaired Credit impaired Stage 1 Stage 2 Stage 3 POCI Total Gross carrying/ nominal amount Allowance for ECL Gross carrying/ nominal amount Allowance for ECL Gross carrying/ nominal amount Allowance for ECL Gross carrying/ nominal amount Allowance for ECL Gross carrying/ nominal amount Allowance for ECL $m $m $m $m $m $m $m $m $m $m At 1 Jan 2019 922,192 (902) 78,266 (1,012) 9,239 (3,987) 334 (194) 1,010,031 (6,095) Transfers of financial instruments (31,493) (169) 28,418 276 3,075 (107) — — — — Net remeasurement of ECL arising from transfer of stage — 223 — (268) — (38) — — — (83) Net new and further lending/repayments 27,918 (134) (20,121) 167 (1,552) 369 137 (1) 6,382 401 Changes to risk parameters – credit quality — 102 — (193) — (1,514) — (51) — (1,656) Changes to models used for ECL calculation — — — (56) — — — — — (56) Assets written off — — — — (1,312) 1,312 (140) 140 (1,452) 1,452 Credit-related modifications that resulted in derecognition — — — — (268) 125 — — (268) 125 Foreign exchange and other 7,035 13 1,606 (17) 107 (66) 14 7 8,762 (63) At 31 Dec 2019 925,652 (867) 88,169 (1,103) 9,289 (3,906) 345 (99) 1,023,455 (5,975) ECL income statement change for the period 191 (350) (1,183) (52) (1,394) Recoveries 47 Others (24) Total ECL income statement change for the period (1,371) Personal lending – reconciliation of changes in gross carrying/nominal amount and allowances for loans and advances to customers including loan commitments and financial guarantees (Audited) Non-credit impaired Credit impaired Stage 1 Stage 2 Stage 3 Total Gross carrying/ nominal amount Allowance for ECL Gross carrying/ nominal amount Allowance for ECL Gross carrying/ nominal amount Allowance for ECL Gross carrying/ nominal amount Allowance for ECL $m $m $m $m $m $m $m $m At 1 Jan 2020 635,961 (597) 17,382 (1,338) 5,046 (1,215) 658,389 (3,150) Transfers of financial instruments (16,019) (629) 13,370 1,181 2,649 (552) — — Net remeasurement of ECL arising from transfer of stage — 431 — (555) — (8) — (132) Net new and further lending/repayments 30,891 101 (5,407) 408 (677) 150 24,807 659 Change in risk parameters – credit quality — (147) — (2,025) — (1,258) — (3,430) Changes to models used for ECL calculation — (3) — (9) — 5 — (7) Assets written off — — — — (1,409) 1,407 (1,409) 1,407 Foreign exchange and other 14,513 (22) 1,425 (67) 153 (32) 16,091 (121) At 31 Dec 2020 665,346 (866) 26,770 (2,405) 5,762 (1,503) 697,878 (4,774) ECL income statement change for the period 382 (2,181) (1,111) (2,910) Recoveries 280 Other (25) Total ECL income statement change for the period (2,655) Personal lending – reconciliation of changes in gross carrying/nominal amount and allowances for loans and advances to customers including loan commitments and financial guarantees (continued) (Audited) Non-credit impaired Credit impaired Stage 1 Stage 2 Stage 3 Total Gross carrying/ nominal amount Allowance for ECL Gross carrying/ nominal amount Allowance for ECL Gross carrying/ nominal amount Allowance for ECL Gross carrying/ nominal amount Allowance for ECL $m $m $m $m $m $m $m $m At 1 Jan 2019 580,784 (547) 16,838 (1,266) 4,993 (1,148) 602,615 (2,961) Transfers of financial instruments (4,751) (374) 2,645 858 2,106 (484) — — Net remeasurement of ECL arising from transfer of stage — 446 — (408) — (76) — (38) Net new and further lending/repayments 50,946 3 (2,348) 453 (758) 281 47,840 737 Change in risk parameters – credit quality — (100) — (1,015) — (1,190) — (2,305) Changes to models used for ECL calculation — (6) — 60 — 14 — 68 Assets written off — — — — (1,345) 1,345 (1,345) 1,345 Foreign exchange and other 8,982 (19) 247 (20) 50 43 9,279 4 At 31 Dec 2019 635,961 (597) 17,382 (1,338) 5,046 (1,215) 658,389 (3,150) ECL income statement change for the period 343 (910) (971) (1,538) Recoveries 314 Other 4 Total ECL income statement change for the period (1,220) | Wholesale lending – reconciliation of changes in gross carrying/nominal amount and allowances for loans and advances to banks and customers including loan commitments and financial guarantees (Audited) Non-credit impaired Credit impaired Stage 1 Stage 2 Stage 3 POCI Total Gross carrying/ nominal amount Allowance for ECL Gross carrying/ nominal amount Allowance for ECL Gross carrying/ nominal amount Allowance for ECL Gross carrying/ nominal amount Allowance for ECL Gross carrying/ nominal amount Allowance for ECL $m $m $m $m $m $m $m $m $m $m At 1 Jan 2020 925,652 (867) 88,169 (1,103) 9,289 (3,906) 345 (99) 1,023,455 (5,975) Transfers of financial instruments (113,217) (493) 103,413 770 9,804 (277) — — — — Net remeasurement of ECL arising from transfer of stage — 476 — (603) — (742) — — — (869) Net new and further lending/ repayments 10,451 (437) (2,910) 141 (3,350) 583 (48) (1) 4,143 286 Change in risk parameters – credit quality — (261) — (2,349) — (3,120) — (39) — (5,769) Changes to models used for ECL calculation — 137 — 303 — — — — — 440 Assets written off — — — — (1,537) 1,537 (30) 30 (1,567) 1,567 Credit-related modifications that resulted in derecognition — — — — (23) 7 — — (23) 7 Foreign exchange and other 18,219 (20) 7,990 (157) 479 (123) 12 (4) 26,700 (304) At 31 Dec 2020 841,105 (1,465) 196,662 (2,998) 14,662 (6,041) 279 (113) 1,052,708 (10,617) ECL income statement change for the period (85) (2,508) (3,279) (40) (5,912) Recoveries 46 Others (59) Total ECL income statement change for the period (5,925) |
Disclosure of financial assets and off-balance sheet commitments | Wholesale lending – commercial real estate loans and advances including loan commitments by level of collateral for key countries/territories (by stage) (Audited) Of which: Total UK Hong Kong Gross carrying/nominal amount ECL coverage Gross carrying/nominal amount ECL coverage Gross carrying/nominal amount ECL coverage $m % $m % $m % Stage 1 Not collateralised 55,376 0.1 7,205 0.6 29,422 — Fully collateralised 71,915 0.2 14,053 0.2 33,386 — LTV ratio: – less than 50% 36,408 0.1 4,665 0.3 22,361 — – 51% to 75% 26,081 0.2 7,031 0.2 9,091 — – 76% to 90% 5,098 0.3 1,932 0.2 1,093 — – 91% to 100% 4,328 0.3 425 0.5 841 — Partially collateralised (A): 5,477 0.2 1,463 0.1 769 — – collateral value on A 3,486 912 594 Total 132,768 0.1 22,721 0.4 63,577 — Stage 2 Not collateralised 8,710 1.3 3,337 2.2 1,084 0.1 Fully collateralised 18,383 1.0 2,534 1.6 8,719 0.5 LTV ratio: – less than 50% 8,544 0.8 1,132 1.5 5,359 0.4 – 51% to 75% 8,097 1.1 1,020 2.0 2,955 0.8 – 76% to 90% 849 1.1 350 0.9 319 0.3 – 91% to 100% 893 1.0 32 3.1 86 — Partially collateralised (B): 1,260 1.0 713 0.8 196 1.0 – collateral value on B 517 246 147 Total 28,353 1.1 6,584 1.8 9,999 0.5 Stage 3 Not collateralised 1,038 45.3 635 50.7 — — Fully collateralised 583 11.5 348 9.5 20 5.0 LTV ratio: – less than 50% 177 13.6 56 5.4 11 — – 51% to 75% 161 15.5 128 12.5 3 — – 76% to 90% 149 6.7 139 5.8 — — – 91% to 100% 96 8.3 25 24.0 6 16.7 Partially collateralised (C): 474 45.6 195 27.7 — — – collateral value on C 331 120 — Total 2,095 35.9 1,178 34.7 20 5.0 POCI Not collateralised — — — — — — Fully collateralised 1 — — — — — LTV ratio: – less than 50% 1 — — — — — – 51% to 75% — — — — — — – 76% to 90% — — — — — — – 91% to 100% — — — — — — Partially collateralised (D): — — — — — — – collateral value on D — — — Total 1 — — — — — At 31 Dec 2020 163,217 0.8 30,483 2.0 73,596 0.1 Wholesale lending – commercial real estate loans and advances including loan commitments by level of collateral for key countries/territories (by stage) (continued) (Audited) Of which: Total UK Hong Kong Gross carrying/nominal amount ECL Gross carrying/nominal amount ECL Gross carrying/nominal amount ECL $m % $m % $m % Stage 1 Not collateralised 61,820 0.1 7,266 0.1 32,478 — Fully collateralised 89,319 0.1 18,535 — 41,798 — LTV ratio: – less than 50% 46,318 0.1 7,018 0.1 28,776 — – 51% to 75% 32,583 0.1 9,349 — 10,815 0.1 – 76% to 90% 5,018 0.1 1,649 0.1 1,436 0.1 – 91% to 100% 5,400 0.2 519 — 771 — Partially collateralised (A): 6,563 0.2 682 — 1,627 0.1 – collateral value on A 3,602 535 1,142 Total 157,702 0.1 26,483 0.1 75,903 — Stage 2 Not collateralised 3,040 1.2 1,857 1.2 440 0.2 Fully collateralised 5,184 1.1 1,419 1.2 1,501 0.6 LTV ratio: – less than 50% 2,167 1.1 615 1.8 955 0.3 – 51% to 75% 1,986 0.9 712 0.6 497 1.0 – 76% to 90% 333 2.1 16 6.3 29 — – 91% to 100% 698 1.1 76 1.3 20 — Partially collateralised (B): 500 0.6 296 0.3 42 — – collateral value on B 203 56 25 Total 8,724 1.1 3,572 1.1 1,983 0.5 Stage 3 Not collateralised 315 57.8 66 92.4 — — Fully collateralised 557 14.9 404 12.9 17 11.8 LTV ratio: – less than 50% 87 16.1 42 7.1 6 16.7 – 51% to 75% 90 7.8 69 4.3 10 — – 76% to 90% 89 15.7 72 4.2 — — – 91% to 100% 291 16.5 221 19.5 1 — Partially collateralised (C): 773 41.5 507 27.8 — — – collateral value on C 380 166 — Total 1,645 35.6 977 26.0 17 11.8 POCI Not collateralised — — — — — — Fully collateralised 1 — — — — — LTV ratio: – less than 50% 1 — — — — — – 51% to 75% — — — — — — – 76% to 90% — — — — — — – 91% to 100% — — — — — — Partially collateralised (D): — — — — — — – collateral value on D — — — Total 1 — — — — — At 31 Dec 2019 168,072 0.5 31,032 1.0 77,903 0.1 Wholesale lending – commercial real estate loans and advances including loan commitments by level of collateral for key countries/territories (Audited) Of which: Total UK Hong Kong Gross carrying/nominal amount ECL coverage Gross carrying/nominal amount ECL coverage Gross carrying/nominal amount ECL coverage $m % $m % $m % Rated CRR/PD1 to 7 Not collateralised 64,046 0.3 10,527 1.1 30,506 — Fully collateralised 89,664 0.3 16,483 0.4 41,861 0.1 Partially collateralised (A): 6,728 0.4 2,174 0.3 965 0.2 – collateral value on A 3,994 1,157 741 Total 160,438 0.3 29,184 0.6 73,332 — Rated CRR/PD8 Not collateralised 40 22.5 15 6.7 — — Fully collateralised 634 8.2 104 12.5 244 12.7 LTV ratio: – less than 50% 282 7.1 15 6.7 102 11.8 – 51% to 75% 321 9.0 75 13.3 138 13.0 – 76% to 90% 14 21.4 5 20.0 4 25.0 – 91% to 100% 17 — 9 — — — Partially collateralised (B): 9 11.1 2 50.0 — — – collateral value on B 9 1 — Total 683 9.1 121 12.4 244 12.7 Rated CRR/PD9 to 10 Not collateralised 1,038 45.3 635 50.7 — — Fully collateralised 584 11.5 348 9.5 20 5.0 LTV ratio: – less than 50% 178 13.5 56 5.4 11 — – 51% to 75% 161 15.5 128 12.5 3 — – 76% to 90% 149 6.7 139 5.8 — — – 91% to 100% 96 8.3 25 24.0 6 16.7 Partially collateralised (C): 474 45.6 195 27.7 — — – collateral value on C 331 120 — Total 2,096 35.9 1,178 34.7 20 5.0 At 31 Dec 2020 163,217 0.8 30,483 2.0 73,596 0.1 Rated CRR/PD1 to 7 Not collateralised 64,850 0.1 9,119 0.3 32,918 — Fully collateralised 94,299 0.1 19,833 0.1 43,299 0.1 Partially collateralised (A): 7,052 0.2 971 0.1 1,669 0.1 – collateral value on A 3,796 586 1,167 Total 166,201 0.1 29,923 0.1 77,886 — Rated CRR/PD8 Not collateralised 10 50.0 4 100.0 — — Fully collateralised 204 4.9 121 5.0 — — LTV ratio: – less than 50% 47 8.5 27 14.8 — — – 51% to 75% 120 3.3 68 1.5 — — – 76% to 90% 25 4.0 15 6.7 — — – 91% to 100% 12 8.3 11 — — — Partially collateralised (B): 11 — 7 — — — – collateral value on B 9 5 — Total 225 6.7 132 7.6 — — Rated CRR/PD9 to 10 Not collateralised 315 57.8 66 92.4 — — Fully collateralised 557 14.9 404 12.9 17 11.8 LTV ratio: – less than 50% 87 16.1 42 7.1 6 16.7 – 51% to 75% 90 7.8 69 4.3 10 — – 76% to 90% 89 15.7 72 4.2 — — – 91% to 100% 291 16.5 221 19.5 1 100.0 Partially collateralised (C): 774 41.6 507 27.8 — — – collateral value on C 380 166 — Total 1,646 35.7 977 26.0 17 11.8 At 31 Dec 2019 168,072 0.5 31,032 1.0 77,903 0.1 Wholesale lending – other corporate, commercial and financial (non-bank) loans and advances including loan commitments by level of collateral for key countries/territories (by stage) (Audited) Of which: Total UK Hong Kong Gross carrying/nominal amount ECL coverage Gross carrying/nominal amount ECL coverage Gross carrying/nominal amount ECL coverage $m % $m % $m % Stage 1 Not collateralised 617,592 0.2 122,554 0.4 95,061 0.1 Fully collateralised 110,528 0.2 28,232 0.3 40,207 0.1 LTV ratio: – less than 50% 37,991 0.1 7,367 0.3 14,744 0.1 – 51% to 75% 36,696 0.2 11,891 0.3 13,961 0.2 – 76% to 90% 13,542 0.2 2,624 0.4 6,522 0.1 – 91% to 100% 22,299 0.1 6,350 0.1 4,980 0.1 Partially collateralised (A): 52,892 0.2 6,826 0.5 19,163 0.1 – collateral value on A 25,903 3,524 9,208 Total 781,012 0.2 157,612 0.4 154,431 0.1 Stage 2 Not collateralised 118,959 1.6 37,430 2.6 19,466 0.4 Fully collateralised 37,753 1.3 9,316 2.1 15,044 0.8 LTV ratio: – less than 50% 11,992 1.3 2,498 1.5 3,920 0.7 – 51% to 75% 16,982 1.6 5,715 2.2 6,657 1.0 – 76% to 90% 3,727 1.2 502 3.2 2,150 0.7 – 91% to 100% 5,052 0.9 601 2.0 2,317 0.3 Partially collateralised (B): 16,829 1.5 3,984 2.7 3,849 0.9 – collateral value on B 9,425 1,714 2,104 Total 173,541 1.5 50,730 2.5 38,359 0.6 Stage 3 Not collateralised 7,852 50.0 2,793 28.5 865 66.0 Fully collateralised 1,939 17.3 585 7.9 342 6.4 LTV ratio: – less than 50% 637 24.0 151 8.6 83 6.0 – 51% to 75% 526 19.0 182 12.6 128 4.7 – 76% to 90% 294 9.2 211 1.9 49 14.3 – 91% to 100% 482 11.6 41 14.6 82 4.9 Partially collateralised (C): 2,847 35.5 553 23.1 592 26.4 – collateral value on C 1,619 337 322 Total 12,638 41.7 3,931 24.7 1,799 41.6 POCI Not collateralised 211 39.8 54 63.0 1 — Fully collateralised 63 41.3 — — 45 51.1 LTV ratio: – less than 50% 6 50.0 — — — — – 51% to 75% 11 9.1 — — 11 9.1 – 76% to 90% 34 64.7 — — 34 64.7 – 91% to 100% 12 — — — — — Partially collateralised (D): 4 75.0 — — — — – collateral value on D 4 — — Total 278 40.6 54 63.0 46 50.0 At 31 Dec 2020 967,469 1.0 212,327 1.3 194,635 0.6 Wholesale lending – other corporate, commercial and financial (non-bank) loans and advances including loan commitments by level of collateral for key countries/territories (by stage) (continued) (Audited) Of which: Total UK Hong Kong Gross carrying/nominal amount ECL coverage Gross carrying/nominal amount ECL coverage Gross carrying/nominal amount ECL coverage $m % $m % $m % Stage 1 Not collateralised 680,079 0.1 132,197 0.2 116,536 — Fully collateralised 128,290 0.1 40,172 0.1 32,818 0.1 LTV ratio: – less than 50% 48,012 0.1 13,831 0.1 11,009 0.1 – 51% to 75% 37,891 0.1 11,903 0.2 12,783 0.1 – 76% to 90% 13,072 0.1 3,399 0.2 4,697 0.1 – 91% to 100% 29,315 — 11,039 — 4,329 0.1 Partially collateralised (A): 52,890 0.1 8,122 0.1 20,162 0.1 – collateral value on A 25,824 3,809 9,616 Total 861,259 0.1 180,491 0.2 169,516 — Stage 2 Not collateralised 61,540 1.2 13,318 2.2 13,308 0.7 Fully collateralised 21,126 0.8 3,139 1.8 12,934 0.6 LTV ratio: – less than 50% 7,081 0.9 1,208 2.0 3,845 0.6 – 51% to 75% 8,482 0.9 1,111 1.8 5,580 0.7 – 76% to 90% 2,684 0.9 282 2.1 1,646 0.5 – 91% to 100% 2,879 0.6 538 1.3 1,863 0.2 Partially collateralised (B): 8,463 0.8 1,516 1.4 3,768 0.4 – collateral value on B 3,669 370 1,801 Total 91,129 1.1 17,973 2.1 30,010 0.6 Stage 3 Not collateralised 4,768 49.2 1,899 33.0 504 83.5 Fully collateralised 1,479 22.4 494 12.6 86 12.8 LTV ratio: – less than 50% 335 35.2 103 17.5 9 33.3 – 51% to 75% 352 24.4 198 8.6 21 4.8 – 76% to 90% 373 23.6 101 20.8 40 7.5 – 91% to 100% 419 9.1 92 7.6 16 25.0 Partially collateralised (C): 1,367 44.8 369 20.1 87 48.3 – collateral value on C 693 192 34 Total 7,614 43.2 2,762 27.6 677 70.0 POCI Not collateralised 223 32.7 32 96.9 7 — Fully collateralised 28 3.6 — — 10 — LTV ratio: – less than 50% 2 50.0 — — — — – 51% to 75% 26 — — — 10 — – 76% to 90% — — — — — — – 91% to 100% — — — — — — Partially collateralised (D): 97 33.0 57 1.8 31 90.3 – collateral value on D 57 19 30 Total 348 30.5 89 36.0 48 58.3 At 31 Dec 2019 960,350 0.5 201,315 0.7 200,251 0.4 Wholesale lending – other corporate, commercial and financial (non-bank) loans and advances including loan commitments by level of collateral for key countries/territories (Audited) Of which: Total UK Hong Kong Gross carrying/nominal amount ECL coverage Gross carrying/nominal amount ECL coverage Gross carrying/nominal amount ECL coverage $m % $m % $m % Rated CRR/PD8 Not collateralised 3,787 7.1 924 8.7 103 25.2 Fully collateralised 1,107 5.2 171 9.4 15 — LTV ratio: – less than 50% 269 4.1 29 10.3 1 — – 51% to 75% 480 6.3 87 6.9 — — – 76% to 90% 140 5.0 13 23.1 14 — – 91% to 100% 218 4.1 42 9.5 — — Partially collateralised (A): 493 8.1 174 9.2 27 3.7 – collateral value on A 352 83 13 Total 5,387 6.8 1,269 8.7 145 18.6 Rated CRR/PD9 to 10 Not collateralised 8,062 49.7 2,847 29.1 865 66.0 Fully collateralised 2,003 18.1 585 7.9 388 11.6 LTV ratio: – less than 50% 644 24.2 151 8.6 84 6.0 – 51% to 75% 538 18.8 182 12.6 139 5.0 – 76% to 90% 327 15.0 211 1.9 83 34.9 – 91% to 100% 494 11.3 41 14.6 82 4.9 Partially collateralised (B): 2,851 35.6 553 23.1 592 26.4 – collateral value on B 1,623 337 322 Total 12,916 41.7 3,985 25.2 1,845 41.8 At 31 Dec 2020 18,303 31.4 5,254 21.2 1,990 40.2 Rated CRR/PD8 Not collateralised 2,499 5.8 285 13.0 10 70.0 Fully collateralised 694 3.3 382 2.6 — — LTV ratio: – less than 50% 246 2.8 120 1.7 — — – 51% to 75% 189 4.2 93 3.2 — — – 76% to 90% 97 2.1 42 2.4 — — – 91% to 100% 162 3.7 127 3.9 — — Partially collateralised (A): 279 4.7 53 5.7 73 2.7 – collateral value on A 152 34 6 Total 3,472 5.2 720 6.9 83 12.0 Rated CRR/PD9 to 10 Not collateralised 4,991 48.5 1,930 34.1 510 82.5 Fully collateralised 1,507 22.0 494 12.6 96 11.5 LTV ratio: – less than 50% 338 35.2 103 17.5 10 — – 51% to 75% 377 22.8 198 8.6 30 3.3 – 76% to 90% 373 23.6 101 20.8 40 7.5 – 91% to 100% 419 9.1 92 7.6 16 — Partially collateralised (B): 1,464 44.0 427 17.6 119 58.8 – collateral value on B 750 211 64 Total 7,962 42.7 2,851 27.9 725 69.2 At 31 Dec 2019 11,434 31.3 3,571 23.7 808 63.4 Personal lending – residential mortgage loans including loan commitments by level of collateral for key countries/territories by stage (Audited) Of which: Total UK Hong Kong Gross carrying/nominal amount ECL coverage Gross carrying/nominal amount ECL coverage Gross carrying/nominal amount ECL coverage $m % $m % $m % Stage 1 Fully collateralised 354,102 — 159,562 — 90,733 — LTV ratio: – less than 50% 174,370 — 76,535 — 54,866 — – 51% to 60% 60,180 — 23,967 — 14,253 — – 61% to 70% 48,159 — 23,381 — 6,042 — – 71% to 80% 40,395 0.1 20,846 — 4,288 — – 81% to 90% 23,339 0.1 12,936 — 6,837 — – 91% to 100% 7,659 0.1 1,897 0.1 4,447 — Partially collateralised (A): 973 0.4 289 — 336 — LTV ratio: – 101% to 110% 592 0.4 84 — 334 — – 111% to 120% 101 0.5 45 — — — – greater than 120% 280 0.3 160 — 2 — – collateral value on A 847 212 328 Total 355,075 — 159,851 — 91,069 — Stage 2 Fully collateralised 12,252 1.5 4,229 1.4 1,802 — LTV ratio: – less than 50% 6,694 1.1 2,442 1.2 1,256 — – 51% to 60% 2,223 1.1 730 1.3 253 — – 61% to 70% 1,779 1.6 606 1.3 83 — – 71% to 80% 987 2.8 244 2.9 111 — – 81% to 90% 400 4.9 139 3.6 60 — – 91% to 100% 169 5.7 68 3.3 39 — Partially collateralised (B): 53 13.6 4 3.3 9 — LTV ratio: – 101% to 110% 28 11.9 3 1.5 9 — – 111% to 120% 9 16.8 — — — — – greater than 120% 16 14.8 1 8.5 — — – collateral value on B 47 4 9 Total 12,305 1.5 4,233 1.4 1,811 — Stage 3 Fully collateralised 3,083 9.8 1,050 12.3 63 — LTV ratio: – less than 50% 1,472 8.0 676 10.9 53 — – 51% to 60% 505 8.7 144 15.1 6 — – 61% to 70% 435 9.2 112 12.9 — — – 71% to 80% 378 11.5 81 13.7 2 — – 81% to 90% 195 17.3 28 22.4 2 — – 91% to 100% 98 24.3 9 17.8 — — Partially collateralised (C): 328 42.7 17 22.9 — — LTV ratio: – 101% to 110% 75 30.4 9 16.7 — — – 111% to 120% 56 38.8 5 17.6 — — – greater than 120% 197 48.5 3 50.3 — — – collateral value on C 228 10 1 Total 3,411 13.0 1,067 12.5 63 — At 31 Dec 2020 370,791 0.2 165,151 0.1 92,943 — Personal lending – residential mortgage loans including loan commitments by level of collateral for key countries/territories by stage (continued) (Audited) Of which: Total UK Hong Kong Gross carrying/nominal amount ECL coverage Gross carrying/nominal amount ECL coverage Gross carrying/nominal amount ECL coverage $m % $m % $m % Stage 1 Fully collateralised 326,510 — 143,772 — 86,049 — LTV ratio: – less than 50% 168,923 — 70,315 — 57,043 — – 51% to 60% 55,287 — 21,898 — 13,169 — – 61% to 70% 44,208 — 19,903 — 6,478 — – 71% to 80% 33,049 — 17,649 — 3,195 — – 81% to 90% 18,157 — 11,127 — 3,685 — – 91% to 100% 6,886 — 2,880 — 2,479 — Partially collateralised (A): 1,384 0.1 326 — 284 — LTV ratio: – 101% to 110% 843 0.1 89 — 281 — – 111% to 120% 195 0.2 48 — 1 — – greater than 120% 346 0.1 189 — 2 — – collateral value on A 1,232 232 279 Total 327,894 — 144,098 — 86,333 — Stage 2 Fully collateralised 7,087 0.9 1,941 1.0 1,116 — LTV ratio: – less than 50% 3,781 0.5 1,146 0.7 892 — – 51% to 60% 923 1.1 233 1.5 95 — – 61% to 70% 909 1.2 262 1.2 59 — – 71% to 80% 894 1.1 231 1.0 32 — – 81% to 90% 425 1.6 36 2.9 25 — – 91% to 100% 155 4.4 33 1.8 13 — Partially collateralised (B): 76 7.2 23 1.8 1 — LTV ratio: – 101% to 110% 45 5.4 20 1.5 1 — – 111% to 120% 10 11.1 1 4.8 — — – greater than 120% 21 9.0 2 3.0 — — – collateral value on B 69 20 1 Total 7,163 1.0 1,964 1.0 1,117 — Stage 3 Fully collateralised 2,725 9.0 1,177 9.9 44 0.5 LTV ratio: – less than 50% 1,337 7.1 711 7.8 39 0.5 – 51% to 60% 410 7.0 159 10.0 3 0.2 – 61% to 70% 358 7.9 136 10.6 — — – 71% to 80% 309 13.4 100 18.9 1 — – 81% to 90% 178 13.8 47 12.3 1 — – 91% to 100% 133 21.8 24 26.3 — — Partially collateralised (C): 371 47.6 25 27.3 — — LTV ratio: – 101% to 110% 97 36.4 11 19.1 — — – 111% to 120% 62 37.8 6 22.7 — — – greater than 120% 212 55.6 8 42.0 — — – collateral value on C 305 24 — Total 3,096 13.7 1,202 10.3 44 0.5 At 31 Dec 2019 338,153 0.2 147,264 0.1 87,494 — | |
Disclosure of balance sheet amounts related to insurance manufacturing subsidiaries | Balance sheet of insurance manufacturing subsidiaries by type of contract 1 (Audited) With Unit-linked Other contracts 2 Shareholder Total Footnotes $m $m $m $m $m Financial assets 84,478 8,802 18,932 8,915 121,127 – trading assets — — — — — – financial assets designated and otherwise mandatorily measured at fair value through profit or loss 26,002 8,558 3,508 1,485 39,553 – derivatives 262 3 13 3 281 – financial investments at amortised cost 39,891 30 13,984 4,521 58,426 – financial investments at fair value through other comprehensive income 12,531 — 459 1,931 14,921 – other financial assets 3 5,792 211 968 975 7,946 Reinsurance assets 2,256 65 1,447 2 3,770 PVIF 4 — — — 9,435 9,435 Other assets and investment properties 2,628 1 227 721 3,577 Total assets 89,362 8,868 20,606 19,073 137,909 Liabilities under investment contracts designated at fair value — 2,285 4,100 — 6,385 Liabilities under insurance contracts 84,931 6,503 15,827 — 107,261 Deferred tax 5 145 5 25 1,400 1,575 Other liabilities — — — 7,244 7,244 Total liabilities 85,076 8,793 19,952 8,644 122,465 Total equity — — — 15,444 15,444 Total liabilities and equity at 31 Dec 2020 85,076 8,793 19,952 24,088 137,909 Financial assets 73,929 7,333 17,514 8,269 107,045 – trading assets — — — — — – financial assets designated and otherwise mandatorily measured at fair value through profit or loss 21,652 7,119 3,081 2,426 34,278 – derivatives 202 (6) 9 3 208 – financial investments at amortised cost 35,299 18 13,436 4,076 52,829 – financial investments at fair value through other comprehensive income 12,447 — 445 1,136 14,028 – other financial assets 3 4,329 202 543 628 5,702 Reinsurance assets 2,208 72 1,563 1 3,844 PVIF 4 — — — 8,945 8,945 Other assets and investment properties 2,495 2 211 602 3,310 Total assets 78,632 7,407 19,288 17,817 123,144 Liabilities under investment contracts designated at fair value — 2,011 3,881 — 5,892 Liabilities under insurance contracts 77,147 6,151 14,141 — 97,439 Deferred tax 5 197 23 6 1,297 1,523 Other liabilities — — — 4,410 4,410 Total liabilities 77,344 8,185 18,028 5,707 109,264 Total equity — — — 13,879 13,879 Total liabilities and equity at 31 Dec 2019 77,344 8,185 18,028 19,586 123,143 1 Balance sheet of insurance manufacturing operations are shown before elimination of inter-company transactions with HSBC non-insurance operations. 2 ‘Other Contracts’ includes term insurance, credit life insurance, universal life insurance and investment contracts not included in the ‘Unit-linked’ or ‘With DPF’ columns. 3 Comprise mainly loans and advances to banks, cash and inter-company balances with other non-insurance legal entities. 4 Present value of in-force long-term insurance business. 5 ‘Deferred tax’ includes the deferred tax liabilities arising on recognition of PVIF. Balance sheet of insurance manufacturing subsidiaries by geographical region 1,2 (Audited) Europe Asia Latin Total Footnotes $m $m $m $m Financial assets 34,768 85,259 1,100 121,127 – trading assets — — — — – financial assets designated and otherwise mandatorily measured at fair value through profit or loss 17,184 22,099 270 39,553 – derivatives 107 174 — 281 – financial investments – at amortised cost 531 57,420 475 58,426 – financial investments – at fair value through other comprehensive income 13,894 706 321 14,921 – other financial assets 3 3,052 4,860 34 7,946 Reinsurance assets 245 3,521 4 3,770 PVIF 4 884 8,390 161 9,435 Other assets and investment properties 1,189 2,332 56 3,577 Total assets 37,086 99,502 1,321 137,909 Liabilities under investment contracts designated at fair value 1,288 5,097 — 6,385 Liabilities under insurance contracts 31,153 74,994 1,114 107,261 Deferred tax 5 204 1,348 23 1,575 Other liabilities 2,426 4,800 18 7,244 Total liabilities 35,071 86,239 1,155 122,465 Total equity 2,015 13,263 166 15,444 Total liabilities and equity at 31 Dec 2020 37,086 99,502 1,321 137,909 Financial assets 31,613 74,237 1,195 107,045 – trading assets — — — — – financial assets designated and otherwise mandatorily measured at fair value through profit or loss 15,490 18,562 226 34,278 – derivatives 84 124 — 208 – financial investments – at amortised cost 100 52,186 543 52,829 – financial investments – at fair value through other comprehensive income 13,071 582 375 14,028 – other financial assets 3 2,868 2,783 51 5,702 Reinsurance assets 237 3,604 3 3,844 PVIF 4 945 7,841 159 8,945 Other assets and investment properties 1,085 2,176 49 3,310 Total assets 33,880 87,858 1,406 123,144 Liabilities under investment contracts designated at fair value 1,139 4,753 — 5,892 Liabilities under insurance contracts 28,437 67,884 1,118 97,439 Deferred tax 5 229 1,275 19 1,523 Other liabilities 2,212 2,172 26 4,410 Total liabilities 32,017 76,084 1,163 109,264 Total equity 1,862 11,774 243 13,879 Total liabilities and equity at 31 Dec 2019 33,879 87,858 1,406 123,143 1 HSBC has no insurance manufacturing subsidiaries in the Middle East and North Africa or North America. 2 Balance sheet of insurance manufacturing operations are shown before elimination of inter-company transactions with HSBC non-insurance operations. 3 Comprise mainly loans and advances to banks, cash and inter-company balances with other non-insurance legal entities. 4 Present value of in-force long-term insurance business. 5 ‘Deferred tax’ includes the deferred tax liabilities arising on recognition of PVIF. | |
Disclosure of financial return guarantees | Financial return guarantees (Audited) 2020 2019 Investment returns implied by guarantee Long-term investment returns on relevant portfolios Cost of guarantees Investment returns implied by guarantee Long-term investment returns on relevant portfolios Cost of guarantees % % $m % % $m Capital 0.0 0.7–3.2 277 0.0 1.3–3.9 110 Nominal annual return 0.1–1.9 2.3–3.6 515 0.1–2.0 3.0–4.5 118 Nominal annual return 2.0-3.9 2.0–4.5 180 2.0–4.0 2.4–4.5 355 Nominal annual return 4.0–5.0 2.0–4.2 133 4.1–5.0 2.3–4.1 110 At 31 Dec 1,105 693 | |
Disclosure of sensitivity analysis to insurance risk factors | Sensitivity of HSBC’s insurance manufacturing subsidiaries to market risk factors (Audited) 2020 2019 Effect on Effect on Effect on Effect on $m $m $m $m +100 basis point parallel shift in yield curves (67) (188) 43 (37) -100 basis point parallel shift in yield curves (68) 58 (221) (138) 10% increase in equity prices 332 332 270 270 10% decrease in equity prices (338) (338) (276) (276) 10% increase in US dollar exchange rate compared with all currencies 84 84 41 41 10% decrease in US dollar exchange rate compared with all currencies (84) (84) (41) (41) Sensitivity analysis (Audited) 2020 2019 $m $m Effect on profit after tax and total equity at 31 Dec Effect on profit after tax and total equity at 10% increase in mortality and/or morbidity rates (93) (88) Effect on profit after tax and total equity at 10% decrease in mortality and/or morbidity rates 98 88 Effect on profit after tax and total equity at 10% increase in lapse rates (111) (99) Effect on profit after tax and total equity at 10% decrease in lapse rates 128 114 Effect on profit after tax and total equity at 10% increase in expense rates (117) (106) Effect on profit after tax and total equity at 10% decrease in expense rates 115 105 | |
Disclosure of expected maturity of insurance contract liabilities | Expected maturity of insurance contract liabilities (Audited) Expected cash flows (undiscounted) Within 1 year 1-5 years 5-15 years Over 15 years Total $m $m $m $m $m Unit-linked 1,407 3,097 2,976 2,099 9,579 With DPF and Other contracts 8,427 30,156 51,383 75,839 165,805 At 31 Dec 2020 9,834 33,253 54,359 77,938 175,384 Unit-linked 1,296 3,153 2,654 1,955 9,058 With DPF and Other contracts 7,907 26,906 50,576 71,731 157,120 At 31 Dec 2019 9,203 30,059 53,230 73,686 166,178 | |
Disclosure of funding sources and uses | Funding sources (Audited) 2020 2019 $m $m Customer accounts 1,642,780 1,439,115 Deposits by banks 82,080 59,022 Repurchase agreements – non-trading 111,901 140,344 Debt securities in issue 95,492 104,555 Cash collateral, margin and settlement accounts 78,565 71,002 Subordinated liabilities 21,951 24,600 Financial liabilities designated at fair value 157,439 164,466 Liabilities under insurance contracts 107,191 97,439 Trading liabilities 75,266 83,170 – repos 11,728 558 – stock lending 4,597 9,702 – other trading liabilities 58,941 72,910 Total equity 204,995 192,668 Other balance sheet liabilities 406,504 338,771 At 31 Dec 2,984,164 2,715,152 Funding uses (Audited) 2020 2019 Footnotes $m $m Loans and advances to customers 1,037,987 1,036,743 Loans and advances to banks 81,616 69,203 Reverse repurchase agreements – non-trading 230,628 240,862 Prepayments, accrued income and other assets 1 76,859 63,891 – cash collateral, margin and settlement accounts 76,859 63,891 Assets held for sale 299 123 Trading assets 231,990 254,271 – reverse repos 13,990 13,659 – stock borrowing 8,286 7,691 – other trading assets 209,714 232,921 Financial investments 490,693 443,312 Cash and balances with central banks 304,481 154,099 Other balance sheet assets 529,611 452,648 At 31 Dec 2,984,164 2,715,152 1 Includes only those financial instruments that are subject to the impairment requirements of IFRS 9. ‘Prepayments, accrued income and other assets’, as presented within the consolidated balance sheet on page 316, includes both financial and non-financial assets. | |
Disclosure of compliance with regulatory capital requirements under banking regulations | Own funds disclosure (Audited) At 31 Dec 31 Dec 2020 2019 Ref* $m $m Common equity tier 1 (‘CET1’) capital: instruments and reserves 1 Capital instruments and the related share premium accounts 23,219 22,873 – ordinary shares 23,219 22,873 2 Retained earnings 128,665 127,188 3 Accumulated other comprehensive income (and other reserves) 1 9,768 1,735 5 Minority interests (amount allowed in consolidated CET1) 4,079 4,865 5a Independently reviewed interim net profits net of any foreseeable charge or dividend (252) (3,381) 6 Common equity tier 1 capital before regulatory adjustments 165,479 153,280 28 Total regulatory adjustments to common equity tier 1 (29,429) (29,314) 29 Common equity tier 1 capital 136,050 123,966 36 Additional tier 1 capital before regulatory adjustments 24,183 24,453 43 Total regulatory adjustments to additional tier 1 capital (60) (60) 44 Additional tier 1 capital 24,123 24,393 45 Tier 1 capital 160,173 148,359 51 Tier 2 capital before regulatory adjustments 25,722 25,192 57 Total regulatory adjustments to tier 2 capital (1,472) (1,401) 58 Tier 2 capital 24,250 23,791 59 Total capital 184,423 172,150 * The references identify the lines prescribed in the European Banking Authority (‘EBA’) template, which are applicable and where there is a value. 1 Following the call and subsequent redemption of HSBC Holdings' non-cumulative preference shares, the remaining share premium that related to such preference shares is now treated as an 'other reserve' and included in CET1. | |
Disclosure of value at risk (VaR) | The Group trading VaR for the year is shown in the table below. Trading VaR, 99% 1 day 1 (Audited) Foreign Interest Equity Credit Portfolio diversification 2 Total 3 $m $m $m $m $m $m Balance at 31 Dec 2020 13.7 20.3 21.5 24.3 (36.4) 43.4 Average 11.0 26.6 27.3 21.6 (38.3) 48.1 Maximum 25.7 43.5 42.0 44.1 69.3 Minimum 5.6 19.1 13.6 12.6 33.6 Balance at 31 Dec 2019 7.7 28.2 15.7 15.2 (26.4) 40.3 Average 6.9 29.9 16.2 23.7 (29.0) 47.8 Maximum 13.5 36.5 24.9 33.2 59.3 Minimum 4.1 22.9 12.4 11.7 33.3 1 Trading portfolios comprise positions arising from the market-making and warehousing of customer-derived positions. 2 Portfolio diversification is the market risk dispersion effect of holding a portfolio containing different risk types. It represents the reduction in unsystematic market risk that occurs when combining a number of different risk types – such as interest rate, equity and foreign exchange – together in one portfolio. It is measured as the difference between the sum of the VaR by individual risk type and the combined total VaR. A negative number represents the benefit of portfolio diversification. As the maximum and minimum occurs on different days for different risk types, it is not meaningful to calculate a portfolio diversification benefit for these measures. 3 The total VaR is non-additive across risk types due to diversification effects. The Group non-trading VaR for the year is shown in the table below. Non-trading VaR, 99% 1 day (Audited) Interest Credit Portfolio 1 Total 2 $m $m $m $m Balance at 31 Dec 2020 166.6 87.0 (5.7) 247.8 Average 150.2 82.5 (42.0) 190.7 Maximum 196.4 133.4 — 274.6 Minimum 59.0 44.2 — 79.7 Balance at 31 Dec 2019 96.2 62.5 (28.2) 130.5 Average 65.9 44.2 (25.6) 84.5 Maximum 100.1 81.2 0 132.8 Minimum 49.2 26.6 0 60.9 1 Portfolio diversification is the market risk dispersion effect of holding a portfolio containing different risk types. It represents the reduction in unsystematic market risk that occurs when combining a number of different risk types – such as interest rate, equity and foreign exchange – together in one portfolio. It is measured as the difference between the sum of the VaR by individual risk type and the combined total VaR. A negative number represents the benefit of portfolio diversification. As the maximum and minimum occurs on different days for different risk types, it is not meaningful to calculate a portfolio diversification benefit for these measures. 2 The total VaR is non-additive across risk types due to diversification effects. |
Report of Directors Corporate_2
Report of Directors Corporate Governance (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Report Of Directors Corporate Governance [Abstract] | |
Disclosure of remuneration of executive Directors | The following table shows the single figure of total remuneration of each executive Director for 2020, together with comparative figures. Single figure of remuneration Noel Quinn 1 Ewen Stevenson (£000) 2020 2019 2020 2019 Base salary 2 1,266 503 738 719 Fixed pay allowance 1,700 695 950 950 Cash in lieu of pension 127 50 74 107 Taxable benefits 3 186 41 12 16 Non-taxable benefits 3 59 23 32 28 Total fixed 3,338 1,312 1,806 1,820 Annual incentive 4 799 665 450 1,082 Notional returns 5 17 — — — Replacement award 6 — — 1,431 1,974 Total variable 816 665 1,881 3,056 Total fixed and variable 4,154 1,977 3,687 4,876 1 Noel Quinn succeeded John Flint as interim Group Chief Executive with effect from 5 August 2019 and was appointed permanently into the role on 17 March 2020. The remuneration included in the single figure table above for 2019 is in respect of his services provided as an executive Director for that year. 2 As outlined on page 272, the executive Directors each donated a quarter of their base salary for six months in 2020. The base salary shown in the single figure of remuneration is the gross salary before charitable donations. 3 Taxable benefits include the provision of medical insurance, accommodation, car and tax return assistance (including any associated tax due, where applicable). Non-taxable benefits include the provision of life assurance and other insurance cover. 4 Under the policy approved by shareholders, executive Directors can receive 50% of their annual incentive award in cash and the remaining 50% in immediately vested shares subject to a one one 5 'Notional returns' refers to the notional return on deferred cash for awards made in prior years. The deferred cash portion of the annual incentive granted in prior years includes a right to receive notional returns for the period between the grant date and vesting date, which is determined by reference to a rate of return specified at the time of grant. A payment of notional return is made annually and the amount is disclosed on a paid basis in the year in which the payment is made. 6 As set out in the 2018 Directors' remuneration report, in 2019 Ewen Stevenson was granted replacement awards to replace unvested awards, which were forfeited as a result of him joining HSBC. The awards, in general, match the performance, vesting and retention periods attached to the awards forfeited, and will be subject to any performance adjustments that would otherwise have been applied. The values included in the table for 2019 relate to Ewen Stevenson's 2015 and 2016 LTI awards granted by The Royal Bank of Scotland Group plc ('RBS') for performance years 2014 and 2015, respectively, and replaced with HSBC shares when Ewen Stevenson joined HSBC. These awards are not subject to further performance conditions and commenced vesting in March 2019. The total value is an aggregate of £1,121,308 for the 2015 LTI and £852,652 for the 2016 LTI. The 2016 LTI award value has been determined by applying the performance assessment outcome of 27.5% as disclosed in RBS's Annual Report and Accounts 2018 (page 70) to the maximum number of shares subject to performance conditions. Values in the table for 2020 relate to his 2017 LTI award granted by RBS for performance year 2016, which was determined by applying the performance assessment outcome of 56.25% as disclosed in RBS's Annual Report and Accounts 2019 (page 91) to the maximum number of shares subject to performance conditions. This resulted in a payout equivalent to 78.09% of the RBS award shares that were forfeited and replaced with HSBC shares. A total of 313,608 shares were granted in respect of his 2017 LTI replacement award at a share price of £6.643. The HSBC share price was £5.845 when the awards ceased to be subject to performance conditions, with no value attributable to share price appreciation. The values of the significant benefits in the single figure table are set out in the following table 1 . Noel Quinn (£000) 2020 2019 Insurance benefit (non-taxable) 51 — Car and driver (UK and Hong Kong) 139 — 1 The value of benefits provided to Noel Quinn in 2019 were not deemed significant. The insurance and car benefits for Ewen Stevenson are not included in the above table as they were not deemed significant. |
Disclosure of performance achieved by executive Directors | Annual assessment Group Chief Executive Group Chief Financial Officer Minimum (25% payout) Maximum (100% payout) Performance Weighting (%) Assessment (%) Outcome Weighting (%) Assessment (%) Outcome (%) Grow profit before tax 1 ($bn) 19.91 23.38 14.77 30.0 — — 20.0 — — RWA optimisation 2 ($bn) 35.00 44.90 51.50 20.0 100.0 20.00 20.0 100.0 20.00 Cost savings ($bn) 1.00 1.60 1.04 — — — 10.0 30.0 3.00 Customer satisfaction See following section for non-financial performance commentary 10.0 80.0 8.00 10.0 80.0 8.00 Employee experience 10.0 95.0 9.50 10.0 95.0 9.50 Environment 10.0 85.0 8.50 10.0 85.0 8.50 Risk and compliance 10.0 85.0 8.50 10.0 85.0 8.50 Personal objectives 10.0 100.0 10.00 10.0 62.5 6.25 Total 100.0 64.50 100.0 63.75 Maximum annual incentive opportunity (£000) £2,478 £1,412 Annual incentive pre-cash waiver £1,598 £900 Annual incentive post-cash waiver (£000) £799 £450 1 Profit before tax, as defined for Group annual bonus pool calculation. This definition excludes business disposal gains and losses, debt valuation and goodwill adjustments and variable pay expense. However, it takes into account fines, penalties and costs of customer redress, including provisions, which are excluded from the adjusted profit before tax. Other significant items are included or excluded in line with the principles underpinning the definition. The adjusted profit before tax as per adjusted results is found on page 2. 2 As set out in our February 2020 business update, our objective is to reduce RWAs in low-return franchises (in particular the US and the non-ring-fenced bank in Europe and the UK) and redeploy capital in areas of faster growth and higher returns. Our target is to achieve a $100bn reduction by 2022, with a $35bn RWA reduction target for 2020. We achieved a reduction of $51.5bn during 2020, which included a reduction of $37.4bn in GBM, mainly in our non-ring-fenced bank and in the US, and $12.9bn in CMB, primarily in our ring-fenced bank . Non-financial performance Shared objectives for the Group Chief Executive and Group Chief Financial Officer Objectives Performance Customer satisfaction Re-engineer the business with digital technology to improve customer service • In our Wealth and Personal Banking business, our retail customer satisfaction scores in six of seven scale markets (excluding SABB) were ranked in the top three or improved at least two ranks against the benchmark, and three markets improved their digital satisfaction scores. Our private banking business did not meet either of its improvement targets. • In our Commercial Banking business, four of seven scale markets (excluding SABB) improved their customer satisfaction scores and six improved their digital satisfaction scores. • Our Global Banking and Markets business met the target of improving on its 2019 net promoter score of 38, with a global net promoter score of 48 (compared with a global competitor score of 40). The global digital satisfaction score of 64% also exceeded the global competitor digital satisfaction score of 36%. • In Hong Kong, we launched a fully remote, digital account opening solution for business customers, while in the UK, we launched HSBC Kinetic, our new app-only digital banking offering for small and medium-sized business customers. In China, we launched Pinnacle, our new digital platform for wealth planning and insurance services. • During the Covid-19 outbreak, we enhanced our digital capabilities to serve more customers remotely, with faster access and improved security. We also engaged with regulators to help customers gain better access to a broad range of banking products and services from their homes, including through remote consultations and sales. • We maintained a high level of business continuity and customer support with 85% of colleagues equipped to work from home, all of our customer contact centres fully operational, and between 70% and 90% of our branches open for business. • We worked with governments to support national schemes, granting over 720,000 payment holidays to our personal customers and 237,000 loans to our wholesale customers. We provided more than $26bn in customer relief to our personal customers during the initial stages of the pandemic and more than $52bn in lending to wholesale customers, many of whom still require our support. • We helped our clients raise over $1.89tn in capital markets financing, and we retained a top-three position in green, social and sustainable finance bonds, according to Dealogic’s rankings. Our Global Banking and Markets business helped arrange more than $125bn of financing for our clients through social and Covid-19 relief bonds. Employee experience Improve engagement, diversity and succession Employee engagement • Our Employee Engagement Index, which measures employee survey sentiment on pride, advocacy, intent to stay, motivation and feeling of accomplishment questions, increased by five percentage points to 72%, meeting our target to improve the metric. • During the Covid-19 outbreak, extra steps were undertaken to maintain a healthy culture, including: a regular dialogue with our colleagues through regular leadership calls and communications; listening closely to their needs; and providing the support and flexibility to manage their lives during the pandemic. A culture of ‘looking out for each other’ was encouraged and employee networks held regular support calls for employees, specifically those experiencing mental health challenges and those with caring responsibilities. • We ran a mid-year employee survey to determine how the Covid-19 outbreak was impacting our colleagues and how we could support them through this period. More than 50% of our total employee population responded, of which more than 89% said they were getting the information they needed from the organisation, 86% reported that they were getting the support they needed from their line manager, and 86% of the respondents reported they felt confident in leadership. In addition, 75% of employees that participated in our 2020 Snapshot survey said they believed HSBC values their well-being. Diversity and inclusion • We met our aspirational target of achieving at least 30% women holding senior leadership positions by 2020. • Several components of the global diversity and inclusion strategy were reprioritised throughout 2020 in direct response to the Black Lives Matter movement and the Covid-19 outbreak. Good progress was made, with key achievements including the design and launch of the global ethnicity inclusion programme, progression of the global disability confidence programme and the appointment of new executive sponsors for the ‘Embrace’ and ‘Balance’ employee resource groups. • We delivered phase one of the global diversity data project, which collected and reported employee ethnicity data in 21 countries and territories through a self-identification campaign. Group Executive Committee succession planning • Succession plans have been updated for all Group Executive Committee roles and approved by the Group Nomination & Corporate Governance Committee. • The Group also identified a number of enterprise critical roles across the organisation and succession plans have also been updated for these roles with approval from the Group Executive Committee. • The majority of ‘ready now’ and ‘develop in role’ successors on these plans have undergone leadership assessments with our third-party specialist provider, with all development plans documented. A global executive coaching panel is utilised and executive development solutions have been designed to be implemented in 2021. Environment Sustainable operations and sustainable finance • We reduced our carbon emission tonnes to 1.76 per full-time equivalent employee (‘FTE’), beating the target of 2.0 tonnes per FTE we had set for 2020. It was recognised that reduced travel and increased working from home due to the Covid-19 outbreak impacted this outcome, and as a result, the performance assessment for this metric was revised down. • We exceeded our sustainable finance and investment target of $24bn by facilitating, financing and investing in the development of clean energy, lower-carbon technologies and projects that contribute to the delivery of the Paris Agreement and the UN Sustainable Development Goals. • We were recognised as 'The World's Best Bank for Sustainable Finance’ by Euromoney in its Awards for Excellence 2020. • Awareness of climate change impacts across the organisation continued to increase, with 93% of relationship managers completing their required sustainability training modules. Risk and compliance Achieve effective management of non-financial risk Group-wide and fulfilment of regulatory obligations. Achieve sustained delivery against the Global Conduct framework and effective financial crime risk management. • In spite of the additional stress due to the operational challenges of the Covid-19 outbreak, enabled by the non-financial risk optimisation programme outcomes, the organisation maintained fair customer outcomes and a stable non-financial risk profile while implementing new products and adapting to significantly different ways of working. • In 2020, we completed our financial crime risk operational effectiveness exercise programme, with all countries having passed the Global Standards exit criteria and assurance. While there was year-on-year improvement in performance against a number of specific financial crime risk metrics, it was recognised that some further work is still required. The executive Directors demonstrated strong commitment to the conduct framework, maintaining focus on fair outcomes for our customers and market integrity. In 2020, this included initiatives to minimise the impact of the Covid-19 crisis and protect the business with rapid introduction of initiatives and mitigation against unacceptable levels of conduct risk. Personal measures for the Group Chief Executive and Group Chief Financial Officer Objectives Performance Group Chief Executive Simplify the Group operating model • As part of the Group transformation programme, we commenced work on 'organisation simplification and design' by defining roles with clear accountabilities and decision rights, simplifying and minimising matrix reporting and realising transformation objectives through the redesign of certain structures across businesses and functions. • The programme successfully delivered all key milestones in 2020, including: the establishment of design principles to shape the future organisation model and structures; the creation of the Group Organisational Design Authority to drive consistent design thinking; the simplification of the Group Executive Committee and the introduction of a clear operating rhythm to increase discipline and focus on strategy and performance delivery; the redesign of the majority of top leadership structures; the definition of a consistent role taxonomy across business and functions; and the identification of reductions in FTEs and cost, principally at senior levels. Group Chief Financial Officer • Deploy Cloud technologies in Global Finance function • Reduce Finance function costs and number of full-time equivalents • The Finance on the Cloud programme will transform the way the Global Finance function operates by rationalising operational processes, automation of data production and providing faster delivery of comprehensive data to our internal and external stakeholders. The programme has progressed into the execution phase in 2020, with the programme design, scope and implementation approach approved. • The first phase of implementation, which relates to the risk-weighted assets reporting process for our UK entities, was successfully implemented in November 2020. Execution plans are in place for the further extension of Cloud technologies within the UK pilot in 2021, followed by a global deployment. • The target of reducing Finance function costs to $0.8bn was met, but the target number of full-time equivalent staff in the function was not achieved. |
Disclosure of assessment of the LTI award | Assessment of the LTI award in respect of 2017 (granted in 2018) Measures (with weighting) Minimum (25% payout) Target (50% payout) Maximum (100% payout) Actual Assessment Outcome Average return on equity (with CET1 underpin) 2 (20%) 9.0% 10.0% 11.0% 7.3% 0.0% 0.00% Cost-efficiency ratio (20%) 60.0% 58.0% 55.5% 62.4% 0.0% 0.00% Relative total shareholder return 3 (20%) At median of Straight-line vesting between minimum and maximum At upper quartile of Rank 11th 0.0% 0.00% Risk and compliance 4 (25%) • Achieve and sustain compliance with Global Financial Crime Compliance policies and procedures. • Achieve a sustainable adoption of Group operation risk management framework, along with its policies and practices. • Achieve and sustain delivery of global conduct outcomes and compliance with conduct of business regulatory obligations. Performance assessed by the Committee based on a number of qualitative and quantitative inputs such as Group Financial Crime Risk assessment against Financial Crime Compliance objectives, outcome of assurance and audit reviews, and achievement of long-term Group objectives and priorities during the performance period, with input and approval from the Group Risk Committee. 65.0% 65.0% 16.25% Strategy (15%) Sustainable finance ($bn) 5 30.0 34.0 37.0 93.0 100.0% 5.00% Employee confidence 6 65.0% 67.0% 70.0% 62.0% 0.0% 0.00% Customer Improvement in Improvement in Improvement in Improvement in three of top five markets 25.0% 1.25% Total 7 22.50% 1 Based on the scorecard outcome, 29,655 shares will vest with Iain Mackay and 86,491 shares will vest with Marc Moses (determined by pro-rating their awards for time in employment during the performance period of 1 January 2018 to 31 December 2020). The awards will vest in five equal annual instalments commencing in March 2021. Using the average daily closing share prices over the three months to 31 December 2020 of £3.604 the value of awards to vest with Iain Mackay and Marc Moses is £106,877 and £311,714, respectively. 2 Significant items are excluded from the profit attributable to ordinary shareholders of the company for the purpose of computing adjusted return on equity. 3 The peer group for the 2017 award is: Bank of America, Barclays, BNP Paribas, Citigroup, Credit Suisse Group, DBS Group Holdings, Deutsche Bank, JPMorgan Chase & Co., Lloyds Banking Group, Standard Chartered and UBS Group. 4 The performance outcome was reviewed and approved by the Group Risk Committee taking into account evidence of progress made during the three 5 Assessed based on cumulative financing and investment made to develop clean energy, lower-carbon technologies and projects that contribute to the delivery of the Paris Agreement and the UN Sustainable Development Goals. 6 Assessed based on results of the latest employee Snapshot survey question, ‘I am seeing the positive impact of our strategy’. 7 Taking into consideration the overall performance of the Group using a number of internal and external measures, including profit before tax, RoTE, share price and total shareholder returns, the Committee considered that the scorecard outcomes reflected the performance achieved. |
Disclosure of performance conditions for long-term incentives | Performance conditions for LTI awards in respect of 2020 Measures Minimum (25% payout) Target (50% payout) Maximum (100% payout) Weighting % RoTE (with CET1 underpin) 1 8.0% 9.0% 10.0% 25.0 Capital reallocation to Asia (with CET1 underpin) 2 45.0% 47.0% 50.0% 25.0 Environment and sustainability 3 Carbon reduction 42.0% 48.0% 51.0% 25.0 Sustainable finance and investment $bn 200.0 240.0 260.0 Relative TSR 4 At median of the peer group Straight-line vesting between minimum and maximum At upper quartile of peer group 25.0 1 To be assessed based on RoTE at the end of the performance period. The measure will also be subject to a CET1 underpin. If the CET1 ratio at the end of the performance period is below the CET1 risk tolerance level set in the risk appetite statement, then the assessment for this measure will be reduced to nil. 2 To be assessed based on share of Group tangible equity (on a constant currency basis and excluding associates) allocated to Asia by 31 December 2023. This metric will be measured on an organic basis and will exclude changes in Group tangible equity allocation resulting from acquisitions and disposals (and also part-acquisitions or part-disposals) of businesses and is subject to the CET1 underpin outlined above. 3 Carbon reduction will be measured based on percentage reduction in total energy and travel emissions achieved by 31 December 2023 using 2019 as the baseline. A sustainable finance and investment metric will assess cumulative financing provided over the period commencing on 1 January 2020 and ending on 31 December 2023. 4 The peer group for the 2020 award is: Bank of America, Barclays, BNP Paribas, Citigroup, Credit Suisse Group, DBS Group Holdings, Deutsche Bank, J.P. Morgan Chase & Co., Lloyds Banking Group, Morgan Stanley, Standard Chartered and UBS Group. 5 Awards will vest on a straight-line basis for performance between the minimum, target and maximum levels of performance set in this table. Performance conditions for LTI awards in respect of 2018 Measures Minimum (25% payout) Target (50% payout) Maximum (100% payout) Weighting % Average RoTE (with CET1 underpin) 1 10.0% 11.0% 12.0% 75.0 Employer advocacy 2 65.0% 70.0% 75.0% 12.5 Environmental, social and governance rank 3 At median of the peer group Straight-line vesting between minimum and maximum At upper quartile of peer group 12.5 1 If the CET1 ratio at the end of performance period is below the CET1 risk tolerance level set in the risk appetite statement, then the assessment for this measure will be reduced to nil. 2 To be assessed based on results of the latest employee Snapshot survey question: 'I would recommend this company as a great place to work'. 3 Peer group (in line with TSR peer group for the 2017 LTI, including three additional peers): Bank of America, Barclays, BNP Paribas, Citigroup, Credit Suisse Group, Deutsche Bank, DBS Group Holdings, J.P. Morgan Chase & Co., Lloyds Banking Group, Standard Chartered, UBS Group, ICBC, Itau and Santander. Performance conditions for LTI awards in respect of 2019 Measures Minimum (25% payout) Target (50% payout) Maximum (100% payout) Weighting % RoTE (with CET1 underpin) 1, 2 10.0% 11.0% 12.0% 33.3 Relative TSR 3 At median of the peer group Straight-line vesting between minimum and maximum At upper quartile of peer group 33.3 Customers Performance will be assessed by the Committee taking into consideration: • customer satisfaction scores at the start and end of the three • progress against customer objectives linked to our strategy over the next three years. 33.3 1 To be assessed based on RoTE in the 2022 financial year. The measure will also be subject to a CET1 underpin. If the CET1 ratio at the end of performance period is below the CET1 risk tolerance level set in the risk appetite statement, then the assessment for this measure will be reduced to nil. 2 Awards will vest on a straight-line basis for performance between the minimum, target and maximum levels of performance set in this table. 3 The peer group for the 2019 award is: Bank of America, Barclays, BNP Paribas, Citigroup, Credit Suisse Group, DBS Group Holdings, Deutsche Bank, J.P. Morgan Chase & Co., Lloyds Banking Group, Morgan Stanley, Standard Chartered and UBS Group. |
Disclosure of scheme interests awarded | The table below sets out the scheme interests awarded to Directors in 2020, as disclosed in the 2019 Directors’ remuneration report. No non-executive Directors received scheme interests during the financial year. Scheme awards in 2020 (Audited) Type of interest awarded Basis on which Date of award Face value awarded 1 £000 Percentage receivable for minimum performance Number of End of performance period Ewen Stevenson LTI deferred shares 2 % of salary 2 24 February 2020 2,680 25 476,757 31 December 2022 Noel Quinn Deferred shares 3 Annual incentive 24 February 2020 1,134 — 201,702 31 December 2019 Deferred cash 3 Annual incentive 24 February 2020 886 — N/A 31 December 2019 1 The face value of the award has been computed using HSBC's closing share price of £5.622 taken on 21 February 2020. LTI awards are subject to a three one 2 In line with regulatory requirements, scheme interests awarded during 2020 were not eligible for dividend equivalents. In accordance with the remuneration policy approved by shareholders at the 2019 AGM, the LTI award was determined at 290% of salary for Ewen Stevenson and the number of shares to be granted was determined by taking into account a share price discounted based on HSBC’s expected dividend yield of 5% per annum for the vesting period (i.e. £4.393). Noel Quinn did not receive the 2019 LTI award that was granted on 24 February 2020, as he was in the Group Chief Executive role in an interim capacity during 2019. 3 2019 annual incentive award received by Noel Quinn for his role as Chief Executive Officer of Commercial Banking and interim Group Chief Executive. As noted in the Annual Report and Accounts 2019 , 60% of his annual incentive award was deferred and in line with regulatory requirements split between cash and shares. The awards will vest in five equal annual instalments between the third and seventh anniversary of the award date. On vesting, the deferred shares will be subject to a one |
Disclosure of directors' interest in share options | Shares (Audited) Shareholding guidelines Shareholding at 31 Dec 2020 2 (% of salary) At 31 Dec 2020 Scheme interests Share Share options 3 Shares awarded subject to deferral 1 without performance conditions 4 with performance conditions 5 Executive Directors Noel Quinn 6 400% 221 % 778,958 — 554,556 — Ewen Stevenson 6 300% 265 % 545,731 — 728,790 476,757 Group Managing Directors 6 250% n/a n/a n/a n/a n/a 1 The gross number of shares is disclosed. A portion of these shares will be sold at vesting to cover any income tax and social security that falls due at the time of vesting. 2 The value of the shareholding is calculated using an average of the daily closing share prices in the three months to 31 December 2020 (£3.604). 3 As at 31 December 2020, Noel Quinn and Ewen Stevenson did not hold any options under the HSBC Holdings Savings-Related Share Option Plan (UK). 4 The amount for Ewen Stevenson reflects the award granted in May 2019, replacing the 2015 to 2018 LTIs forfeited by the Royal Bank of Scotland Group plc (‘RBS’) and is subject to any performance adjustments assessed and disclosed in the relevant Annual Report and Accounts of RBS. 5 LTI awards granted in February 2020 are subject to the performance conditions as set out on page 287. 6 All Group Managing Directors and executive Directors are expected to meet their shareholding guidelines within five years of the date of their appointment (Noel Quinn and Ewen Stevenson were appointed on 5 August 2019 and 1 January 2019 respectively).The shareholding guidelines for Group Managing Directors have been updated from 250,000 shares to 250% of reference salary from 1 January 2019 to align with the approach used for executive Directors. |
Disclosure of non-executive director compensation | The following table shows the total fees and benefits of non-executive Directors for 2020, together with comparative figures for 2019. Fees and benefits (Audited) Fees 1 Benefits 2 Total (£000) Footnotes 2020 2019 2020 2019 2020 2019 Kathleen Casey (retired on 24 April 2020) 3,4 78 223 27 9 105 232 Laura Cha 5 587 298 — — 587 298 Henri de Castries 202 194 1 4 203 198 James Forese 6 160 — — — 160 — Steven Guggenheimer 7 134 — — — 134 — Irene Lee 8 546 454 — 3 546 457 José Antonio Meade Kuribreña 202 157 4 2 206 159 Heidi Miller 9 632 625 7 2 639 627 Eileen Murray 10 120 — — — 120 — David Nish 11 480 230 8 16 488 246 Sir Jonathan Symonds (retired on 18 February 2020) 86 638 20 21 106 659 Jackson Tai 12 355 398 12 57 367 455 Mark Tucker 13 1,500 1,500 52 231 1,552 1,731 Pauline van der Meer Mohr 14 312 265 2 8 314 273 Total (£000) 5,394 4,982 133 353 5,527 5,335 Total ($000) 6,919 6,390 171 453 7,090 6,843 1 The Directors' remuneration policy was approved at the 2019 AGM and the new fees became effective from 13 April 2019. Fees include a travel allowance of £4,000 for non-UK based non-executive Directors and for all non-executive Directors effective from 1 June 2019. Given the travel restrictions in place, the Board was unable to travel to attend meetings in person. Therefore, the travel allowance available to all non-executive Directors was pro-rated to reflect the travel required of the Board during 2020. 2 Benefits include taxable expenses such as accommodation, travel and subsistence relating to attendance at Board and other meetings at HSBC Holdings' registered offices. Amounts disclosed have been grossed up using a tax rate of 45%, where relevant. 3 Appointed as a member of the Group Risk Committee on 17 January 2020. 4 Stepped down as a member of the Financial System Vulnerabilities Committee on 17 January 2020 when the Committee was demised. 5 Includes fees of £423,800 (2019: £104,000) for her role as non-executive Chair and member of the Nomination Committee of The Hongkong and Shanghai Banking Corporation. Following approval of the non-executive Chair fee by the Group Remuneration Committee in 2020, Laura also received a pro-rated additional Chair fee of HK$201,639 paid in respect of the period from 6 December to 31 December 2019. 6 Appointed to the Board and a member of the Group Audit Committee, Group Remuneration Committee and Nomination & Corporate Governance Committee on 1 May 2020. 7 Appointed to the Board and as a member of the Group Risk Committee and Nomination & Corporate Governance Committee on 1 May 2020. 8 Includes fees of £344,000 (2019: £260,000) in relation to her roles as a Director, Remuneration Committee Chair, Audit Committee member and Risk Committee member of The Hongkong and Shanghai Banking Corporation Limited. Fees in relation to her role as a Director, Risk Committee Chair and Audit Committee member, and from 28 December 2020 as a member of the Nomination Committee, of Hang Seng Bank Limited. 9 Includes fees of £430,000 (2019: £431,000) in relation to her role as Chair of HSBC North America Holdings Inc. 10 Appointed to the Board and as member of the Group Audit Committee, Group Risk Committee and Nomination & Corporate Governance Committee on 1 July 2020. 11 Appointed as Senior Independent Director, Chair of the Group Audit Committee and member of the Group Risk Committee on 18 February 2020. 12 Stepped down as Chair of the Financial System Vulnerabilities Committee on 17 January 2020 when the Committee was demised. 13 The Group Chairman donated 100% of his 2020 fee to charities in the UK and Hong Kong supporting vulnerable people and in the local response to Covid-19. 14 Appointed as a member of the Group Audit Committee on 19 February 2020. Shares Shareholding guidelines (number of shares) Share interests (number of shares) Kathleen Casey (retired on 24 April 2020) 15,000 15,125 Laura Cha 15,000 16,200 Henri de Castries 15,000 19,251 James Forese (appointed to the Board on 1 May 2020) 15,000 115,000 Steven Guggenheimer (appointed to the Board on 1 May 2020) 15,000 15,000 Irene Lee 15,000 11,904 José Antonio Meade Kuribreña 15,000 15,000 Heidi Miller 15,000 15,700 Eileen Murray (appointed to the Board on 1 July 2020) 15,000 75,000 David Nish 15,000 50,000 Sir Jonathan Symonds (retired on 18 February 2020) 15,000 43,821 Jackson Tai 15,000 66,515 Mark Tucker 15,000 307,352 Pauline van der Meer Mohr 15,000 15,000 Compensation of Key Management Personnel 2020 2019 2018 $m $m $m Short-term employee benefits 39 64 52 Other long-term employee benefits 5 8 6 Share-based payments 20 27 34 Year ended 31 Dec 64 99 92 |
Basis of preparation and sign_3
Basis of preparation and significant accounting policies (Details) - Credit cards | 12 Months Ended |
Dec. 31, 2020 | |
Bottom of range | |
Disclosure of expected impact of initial application of new standards or interpretations [line items] | |
Expected credit loss | 2 years |
Top of range | |
Disclosure of expected impact of initial application of new standards or interpretations [line items] | |
Expected credit loss | 6 years |
Net fee income - Summary of net
Net fee income - Summary of net fee income (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Analysis Of Income And Expense [Line Items] | |||
Funds under management | $ 2,289 | $ 2,177 | $ 2,221 |
Cards | 1,949 | 1,975 | 1,956 |
Broking income | 1,539 | 1,057 | 1,210 |
Credit facilities | 1,459 | 1,618 | 1,723 |
Account services | 1,293 | 2,003 | 2,177 |
Underwriting | 1,015 | 829 | 723 |
Global custody | 934 | 717 | 736 |
Unit trusts | 899 | 1,035 | 1,038 |
Remittances | 677 | 747 | 778 |
Imports/exports | 577 | 662 | 709 |
Insurance agency commission | 325 | 377 | 404 |
Other | 2,095 | 2,242 | 2,369 |
Fee income | 15,051 | 15,439 | 16,044 |
Less: fee expense | (3,177) | (3,416) | (3,424) |
Net fee income | 11,874 | 12,023 | $ 12,620 |
Wealth and Personal Banking | |||
Disclosure Of Analysis Of Income And Expense [Line Items] | |||
Funds under management | 1,686 | 1,597 | |
Cards | 1,564 | 1,602 | |
Broking income | 862 | 485 | |
Credit facilities | 93 | 90 | |
Account services | 431 | 991 | |
Underwriting | 5 | 3 | |
Global custody | 189 | 135 | |
Unit trusts | 881 | 1,011 | |
Remittances | 77 | 77 | |
Imports/exports | 0 | 1 | |
Insurance agency commission | 307 | 356 | |
Other | 1,123 | 1,284 | |
Fee income | 7,218 | 7,632 | |
Less: fee expense | (1,810) | (1,998) | |
Net fee income | 5,408 | 5,634 | |
Commercial Banking | |||
Disclosure Of Analysis Of Income And Expense [Line Items] | |||
Funds under management | 126 | 120 | |
Cards | 360 | 358 | |
Broking income | 61 | 40 | |
Credit facilities | 740 | 785 | |
Account services | 598 | 654 | |
Underwriting | 9 | 6 | |
Global custody | 22 | 18 | |
Unit trusts | 18 | 22 | |
Remittances | 313 | 362 | |
Imports/exports | 417 | 497 | |
Insurance agency commission | 17 | 20 | |
Other | 893 | 887 | |
Fee income | 3,574 | 3,769 | |
Less: fee expense | (349) | (380) | |
Net fee income | 3,225 | 3,389 | |
Global Banking and Markets | |||
Disclosure Of Analysis Of Income And Expense [Line Items] | |||
Funds under management | 477 | 460 | |
Cards | 25 | 15 | |
Broking income | 616 | 532 | |
Credit facilities | 626 | 743 | |
Account services | 264 | 365 | |
Underwriting | 1,002 | 821 | |
Global custody | 723 | 564 | |
Unit trusts | 0 | 2 | |
Remittances | 288 | 311 | |
Imports/exports | 160 | 164 | |
Insurance agency commission | 1 | 1 | |
Other | 2,369 | 2,353 | |
Fee income | 6,551 | 6,331 | |
Less: fee expense | (3,284) | (3,292) | |
Net fee income | 3,267 | 3,039 | |
Corporate Centre | |||
Disclosure Of Analysis Of Income And Expense [Line Items] | |||
Funds under management | 0 | 0 | |
Cards | 0 | 0 | |
Broking income | 0 | 0 | |
Credit facilities | 0 | 0 | |
Account services | 0 | (7) | |
Underwriting | (1) | (1) | |
Global custody | 0 | 0 | |
Unit trusts | 0 | 0 | |
Remittances | (1) | (3) | |
Imports/exports | 0 | 0 | |
Insurance agency commission | 0 | 0 | |
Other | (2,290) | (2,282) | |
Fee income | (2,292) | (2,293) | |
Less: fee expense | 2,266 | 2,254 | |
Net fee income | $ (26) | $ (39) |
Net fee income - Narrative (Det
Net fee income - Narrative (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Analysis of income and expense [abstract] | |||
Fee income arising from financial assets not at fair value through profit or loss | $ 5,858 | $ 6,647 | $ 7,522 |
Fee expense arising from financial liabilities not at fair value through profit or loss | 1,260 | 1,450 | 1,682 |
Fee income arising from trust and fiduciary activities | 3,426 | 3,110 | 3,165 |
Fee expense arising from trust and fiduciary activities | $ 267 | $ 237 | $ 175 |
Net income from financial ins_3
Net income from financial instruments measured at fair value through profit and loss - Net income/(expense) arising from financial instruments measured at fair value through profit or loss (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Disclosure of financial assets and liabilities [Line Items] | ||||
Net income from financial instruments held for trading or managed on a fair value basis | $ 9,582 | $ 10,231 | $ 9,531 | |
Net income/(expense) from assets and liabilities of insurance businesses, including related derivatives, measured at fair value through profit or loss | 2,081 | 3,478 | (1,488) | |
Changes in fair value of designated debt and related derivatives | [1] | 231 | 90 | (97) |
Changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss | 455 | 812 | 695 | |
Net income/expense from financial instruments measured at fair value through profit and loss | 12,349 | 14,611 | 8,641 | |
Liabilities to customers under investment contracts | ||||
Disclosure of financial assets and liabilities [Line Items] | ||||
Net income/(expense) from assets and liabilities of insurance businesses, including related derivatives, measured at fair value through profit or loss | (400) | (352) | 97 | |
Derivatives managed in conjunction with HSBC’s issued debt securities | ||||
Disclosure of financial assets and liabilities [Line Items] | ||||
Changes in fair value of designated debt and related derivatives | 2,619 | 2,561 | (626) | |
Other changes in fair value | ||||
Disclosure of financial assets and liabilities [Line Items] | ||||
Changes in fair value of designated debt and related derivatives | (2,388) | (2,471) | 529 | |
Trading securities | ||||
Disclosure of financial assets and liabilities [Line Items] | ||||
Net income from financial instruments held for trading or managed on a fair value basis | 11,074 | 16,121 | 6,982 | |
Other instruments managed on a fair value basis | ||||
Disclosure of financial assets and liabilities [Line Items] | ||||
Net income from financial instruments held for trading or managed on a fair value basis | (1,492) | (5,890) | 2,549 | |
Financial assets held to meet liabilities under insurance and investment contracts | ||||
Disclosure of financial assets and liabilities [Line Items] | ||||
Net income/(expense) from assets and liabilities of insurance businesses, including related derivatives, measured at fair value through profit or loss | $ 2,481 | $ 3,830 | $ (1,585) | |
[1] | The debt instruments, issued for funding purposes, are designated under the fair value option to reduce an accounting mismatch. |
Net income from financial ins_4
Net income from financial instruments measured at fair value through profit and loss - HSBC Holdings – Net income/(expense) arising from financial instruments measured at fair value through profit or loss (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Disclosure of financial liabilities [line items] | ||||
Net income from financial instruments held for trading or managed on a fair value basis | $ 9,582 | $ 10,231 | $ 9,531 | |
Changes in fair value of designated debt and related derivatives | [1] | 231 | 90 | (97) |
Changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss | 455 | 812 | 695 | |
Net income/expense from financial instruments measured at fair value through profit and loss | 12,349 | 14,611 | 8,641 | |
HSBC Holdings | ||||
Disclosure of financial liabilities [line items] | ||||
Net income from financial instruments held for trading or managed on a fair value basis | 801 | 1,477 | 245 | |
Changes in fair value of designated debt and related derivatives | [2] | (326) | (360) | (77) |
Changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss | 1,141 | 1,659 | 43 | |
Net income/expense from financial instruments measured at fair value through profit and loss | 1,616 | 2,776 | 211 | |
Derivatives managed in conjunction with HSBC’s issued debt securities | ||||
Disclosure of financial liabilities [line items] | ||||
Changes in fair value of designated debt and related derivatives | 2,619 | 2,561 | (626) | |
Derivatives managed in conjunction with HSBC’s issued debt securities | HSBC Holdings | ||||
Disclosure of financial liabilities [line items] | ||||
Changes in fair value of designated debt and related derivatives | 694 | 764 | (337) | |
Other changes in fair value | ||||
Disclosure of financial liabilities [line items] | ||||
Changes in fair value of designated debt and related derivatives | (2,388) | (2,471) | 529 | |
Other changes in fair value | HSBC Holdings | ||||
Disclosure of financial liabilities [line items] | ||||
Changes in fair value of designated debt and related derivatives | (1,020) | (1,124) | 260 | |
Trading securities | ||||
Disclosure of financial liabilities [line items] | ||||
Net income from financial instruments held for trading or managed on a fair value basis | 11,074 | 16,121 | 6,982 | |
Trading securities | HSBC Holdings | ||||
Disclosure of financial liabilities [line items] | ||||
Net income from financial instruments held for trading or managed on a fair value basis | (336) | (559) | (176) | |
Other instruments managed on a fair value basis | ||||
Disclosure of financial liabilities [line items] | ||||
Net income from financial instruments held for trading or managed on a fair value basis | (1,492) | (5,890) | 2,549 | |
Other instruments managed on a fair value basis | HSBC Holdings | ||||
Disclosure of financial liabilities [line items] | ||||
Net income from financial instruments held for trading or managed on a fair value basis | $ 1,137 | $ 2,036 | $ 421 | |
[1] | The debt instruments, issued for funding purposes, are designated under the fair value option to reduce an accounting mismatch. | |||
[2] | The debt instruments, issued for funding purposes, are designated under the fair value option to reduce an accounting mismatch. |
Insurance business - Net Insura
Insurance business - Net Insurance Premium Income (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of net, gross and reinsurer's share for amounts arising from insurance contracts [line items] | |||
Net insurance premium income | $ 10,093 | $ 10,636 | $ 10,659 |
Gross insurance premium income | |||
Disclosure of net, gross and reinsurer's share for amounts arising from insurance contracts [line items] | |||
Net insurance premium income | 10,463 | 12,108 | 11,338 |
Reinsurers’ share of gross insurance premium income | |||
Disclosure of net, gross and reinsurer's share for amounts arising from insurance contracts [line items] | |||
Net insurance premium income | (370) | (1,472) | (679) |
Non-linked insurance | |||
Disclosure of net, gross and reinsurer's share for amounts arising from insurance contracts [line items] | |||
Net insurance premium income | 7,959 | 7,888 | 7,944 |
Non-linked insurance | Gross insurance premium income | |||
Disclosure of net, gross and reinsurer's share for amounts arising from insurance contracts [line items] | |||
Net insurance premium income | 8,321 | 9,353 | 8,616 |
Non-linked insurance | Reinsurers’ share of gross insurance premium income | |||
Disclosure of net, gross and reinsurer's share for amounts arising from insurance contracts [line items] | |||
Net insurance premium income | (362) | (1,465) | (672) |
Linked life insurance | |||
Disclosure of net, gross and reinsurer's share for amounts arising from insurance contracts [line items] | |||
Net insurance premium income | 571 | 482 | 415 |
Linked life insurance | Gross insurance premium income | |||
Disclosure of net, gross and reinsurer's share for amounts arising from insurance contracts [line items] | |||
Net insurance premium income | 579 | 489 | 422 |
Linked life insurance | Reinsurers’ share of gross insurance premium income | |||
Disclosure of net, gross and reinsurer's share for amounts arising from insurance contracts [line items] | |||
Net insurance premium income | (8) | (7) | (7) |
Investment contracts with DPF | |||
Disclosure of net, gross and reinsurer's share for amounts arising from insurance contracts [line items] | |||
Net insurance premium income | 1,563 | 2,266 | 2,300 |
Investment contracts with DPF | Gross insurance premium income | |||
Disclosure of net, gross and reinsurer's share for amounts arising from insurance contracts [line items] | |||
Net insurance premium income | 1,563 | 2,266 | 2,300 |
Investment contracts with DPF | Reinsurers’ share of gross insurance premium income | |||
Disclosure of net, gross and reinsurer's share for amounts arising from insurance contracts [line items] | |||
Net insurance premium income | $ 0 | $ 0 | $ 0 |
Insurance business - Net Insu_2
Insurance business - Net Insurance Claims And Benefits Paid And Movement In Liabilities To Policyholders (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of net, gross and reinsurer's share for amounts arising from insurance contracts [line items] | |||
Net insurance claims and benefits paid and movement in liabilities to policyholders | $ 12,645 | $ 14,926 | $ 9,807 |
Non-linked insurance | |||
Disclosure of net, gross and reinsurer's share for amounts arising from insurance contracts [line items] | |||
Net insurance claims and benefits paid and movement in liabilities to policyholders | 9,684 | 9,903 | 8,338 |
Linked life insurance | |||
Disclosure of net, gross and reinsurer's share for amounts arising from insurance contracts [line items] | |||
Net insurance claims and benefits paid and movement in liabilities to policyholders | 1,108 | 1,213 | (255) |
Investment contracts with DPF | |||
Disclosure of net, gross and reinsurer's share for amounts arising from insurance contracts [line items] | |||
Net insurance claims and benefits paid and movement in liabilities to policyholders | 1,853 | 3,810 | 1,724 |
Gross insurance premium income | |||
Disclosure of net, gross and reinsurer's share for amounts arising from insurance contracts [line items] | |||
Net insurance claims and benefits paid and movement in liabilities to policyholders | 13,015 | 16,332 | 10,221 |
– claims, benefits and surrenders paid | 6,678 | 6,604 | 6,809 |
– movement in liabilities | 6,337 | 9,728 | 3,412 |
Gross insurance premium income | Non-linked insurance | |||
Disclosure of net, gross and reinsurer's share for amounts arising from insurance contracts [line items] | |||
Net insurance claims and benefits paid and movement in liabilities to policyholders | 10,050 | 11,305 | 8,943 |
– claims, benefits and surrenders paid | 3,695 | 3,783 | 3,852 |
– movement in liabilities | 6,355 | 7,522 | 5,091 |
Gross insurance premium income | Linked life insurance | |||
Disclosure of net, gross and reinsurer's share for amounts arising from insurance contracts [line items] | |||
Net insurance claims and benefits paid and movement in liabilities to policyholders | 1,112 | 1,217 | (446) |
– claims, benefits and surrenders paid | 900 | 900 | 1,088 |
– movement in liabilities | 212 | 317 | (1,534) |
Gross insurance premium income | Investment contracts with DPF | |||
Disclosure of net, gross and reinsurer's share for amounts arising from insurance contracts [line items] | |||
Net insurance claims and benefits paid and movement in liabilities to policyholders | 1,853 | 3,810 | 1,724 |
– claims, benefits and surrenders paid | 2,083 | 1,921 | 1,869 |
– movement in liabilities | (230) | 1,889 | (145) |
Reinsurers’ share of gross insurance premium income | |||
Disclosure of net, gross and reinsurer's share for amounts arising from insurance contracts [line items] | |||
Net insurance claims and benefits paid and movement in liabilities to policyholders | (370) | (1,406) | (414) |
– claims, benefits and surrenders paid | (440) | (428) | (492) |
– movement in liabilities | 70 | (978) | 78 |
Reinsurers’ share of gross insurance premium income | Non-linked insurance | |||
Disclosure of net, gross and reinsurer's share for amounts arising from insurance contracts [line items] | |||
Net insurance claims and benefits paid and movement in liabilities to policyholders | (366) | (1,402) | (605) |
– claims, benefits and surrenders paid | (430) | (411) | (311) |
– movement in liabilities | 64 | (991) | (294) |
Reinsurers’ share of gross insurance premium income | Linked life insurance | |||
Disclosure of net, gross and reinsurer's share for amounts arising from insurance contracts [line items] | |||
Net insurance claims and benefits paid and movement in liabilities to policyholders | (4) | (4) | 191 |
– claims, benefits and surrenders paid | (10) | (17) | (181) |
– movement in liabilities | 6 | 13 | 372 |
Reinsurers’ share of gross insurance premium income | Investment contracts with DPF | |||
Disclosure of net, gross and reinsurer's share for amounts arising from insurance contracts [line items] | |||
Net insurance claims and benefits paid and movement in liabilities to policyholders | 0 | 0 | 0 |
– claims, benefits and surrenders paid | 0 | 0 | 0 |
– movement in liabilities | $ 0 | $ 0 | $ 0 |
Insurance business - Liabilitie
Insurance business - Liabilities under insurance contracts (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Reconciliation of changes in liabilities under insurance contracts and reinsurance contracts issued [abstract] | ||
Gross liabilities under insurance contracts beginning of period | $ 93,847 | |
Claims and benefits paid | (6,678) | $ (6,604) |
Increase in liabilities to policyholders | 13,015 | 16,332 |
Exchange differences and other movements | 3,415 | 381 |
Gross liabilities under insurance contracts end of period | 103,743 | 93,847 |
Non-linked insurance | ||
Reconciliation of changes in liabilities under insurance contracts and reinsurance contracts issued [abstract] | ||
Gross liabilities under insurance contracts beginning of period | 61,803 | |
Claims and benefits paid | (3,695) | (3,804) |
Increase in liabilities to policyholders | 10,050 | 11,326 |
Exchange differences and other movements | 785 | 519 |
Gross liabilities under insurance contracts end of period | 69,030 | 61,803 |
Linked life insurance | ||
Reconciliation of changes in liabilities under insurance contracts and reinsurance contracts issued [abstract] | ||
Gross liabilities under insurance contracts beginning of period | 6,080 | |
Claims and benefits paid | (900) | (900) |
Increase in liabilities to policyholders | 1,112 | 1,217 |
Exchange differences and other movements | 86 | 45 |
Gross liabilities under insurance contracts end of period | 6,435 | 6,080 |
Investment contracts with DPF | ||
Reconciliation of changes in liabilities under insurance contracts and reinsurance contracts issued [abstract] | ||
Gross liabilities under insurance contracts beginning of period | 25,964 | |
Claims and benefits paid | (2,083) | (1,900) |
Increase in liabilities to policyholders | 1,853 | 3,789 |
Exchange differences and other movements | 2,544 | (183) |
Gross liabilities under insurance contracts end of period | 28,278 | 25,964 |
Gross insurance premium income | ||
Reconciliation of changes in liabilities under insurance contracts and reinsurance contracts issued [abstract] | ||
Gross liabilities under insurance contracts beginning of period | 97,439 | 87,330 |
Gross liabilities under insurance contracts end of period | 107,191 | 97,439 |
Gross insurance premium income | Non-linked insurance | ||
Reconciliation of changes in liabilities under insurance contracts and reinsurance contracts issued [abstract] | ||
Gross liabilities under insurance contracts beginning of period | 65,324 | 57,283 |
Gross liabilities under insurance contracts end of period | 72,464 | 65,324 |
Gross insurance premium income | Linked life insurance | ||
Reconciliation of changes in liabilities under insurance contracts and reinsurance contracts issued [abstract] | ||
Gross liabilities under insurance contracts beginning of period | 6,151 | 5,789 |
Gross liabilities under insurance contracts end of period | 6,449 | 6,151 |
Gross insurance premium income | Investment contracts with DPF | ||
Reconciliation of changes in liabilities under insurance contracts and reinsurance contracts issued [abstract] | ||
Gross liabilities under insurance contracts beginning of period | 25,964 | 24,258 |
Gross liabilities under insurance contracts end of period | 28,278 | 25,964 |
Reinsurers’ share of gross insurance premium income | ||
Reconciliation of changes in liabilities under insurance contracts and reinsurance contracts issued [abstract] | ||
Gross liabilities under insurance contracts beginning of period | (3,592) | |
Gross liabilities under insurance contracts end of period | (3,448) | (3,592) |
Reinsurers’ share of gross insurance premium income | Non-linked insurance | ||
Reconciliation of changes in liabilities under insurance contracts and reinsurance contracts issued [abstract] | ||
Gross liabilities under insurance contracts beginning of period | (3,521) | |
Gross liabilities under insurance contracts end of period | (3,434) | (3,521) |
Reinsurers’ share of gross insurance premium income | Linked life insurance | ||
Reconciliation of changes in liabilities under insurance contracts and reinsurance contracts issued [abstract] | ||
Gross liabilities under insurance contracts beginning of period | (71) | |
Gross liabilities under insurance contracts end of period | (14) | (71) |
Reinsurers’ share of gross insurance premium income | Investment contracts with DPF | ||
Reconciliation of changes in liabilities under insurance contracts and reinsurance contracts issued [abstract] | ||
Gross liabilities under insurance contracts beginning of period | 0 | |
Gross liabilities under insurance contracts end of period | $ 0 | $ 0 |
Employee compensation and ben_3
Employee compensation and benefits - Employee compensation and benefits (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Employee Compensation And Benefits [Abstract] | |||
Wages and salaries | $ 15,752 | $ 15,581 | $ 14,751 |
Social security costs | 1,378 | 1,472 | 1,490 |
Post-employment benefits | 946 | 949 | 1,132 |
Employee compensation and benefits | $ 18,076 | $ 18,002 | $ 17,373 |
Employee compensation and ben_4
Employee compensation and benefits - Average number of persons employed by HSBC during the year by global business (Details) - employee | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of operating segments [line items] | |||
Average number of employees | 239,712 | 247,055 | 242,850 |
Wealth and Personal Banking | |||
Disclosure of operating segments [line items] | |||
Average number of employees | 144,615 | 148,680 | 144,109 |
Commercial Banking | |||
Disclosure of operating segments [line items] | |||
Average number of employees | 45,631 | 46,584 | 48,983 |
Global Banking and Markets | |||
Disclosure of operating segments [line items] | |||
Average number of employees | 49,055 | 51,313 | 49,217 |
Corporate Centre | |||
Disclosure of operating segments [line items] | |||
Average number of employees | 411 | 478 | 541 |
Employee compensation and ben_5
Employee compensation and benefits - Average number of persons employed by HSBC during the year by geographical region (Details) - employee | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of geographical areas [line items] | |||
Average number of employees | 239,712 | 247,055 | 242,850 |
Europe | |||
Disclosure of geographical areas [line items] | |||
Average number of employees | 64,886 | 66,392 | 67,007 |
Asia | |||
Disclosure of geographical areas [line items] | |||
Average number of employees | 129,923 | 133,624 | 127,992 |
Middle East and North Africa | |||
Disclosure of geographical areas [line items] | |||
Average number of employees | 9,550 | 9,798 | 9,798 |
North America | |||
Disclosure of geographical areas [line items] | |||
Average number of employees | 15,430 | 16,615 | 17,350 |
Latin America | |||
Disclosure of geographical areas [line items] | |||
Average number of employees | 19,923 | 20,626 | 20,703 |
Employee compensation and ben_6
Employee compensation and benefits - Reconciliation of total incentive awards granted to income statement charge (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Employee Compensation And Benefits [Abstract] | |||
Total incentive awards approved for the current year | $ 2,659 | $ 3,341 | $ 3,473 |
Less: deferred bonuses awarded, expected to be recognised in future periods | (239) | (337) | (351) |
Total incentives awarded and recognised in the current year | 2,420 | 3,004 | 3,122 |
Add: current year charges for deferred bonuses from previous years | 286 | 327 | 322 |
Other | 2 | (55) | (70) |
Income statement charge for incentive awards | $ 2,708 | $ 3,276 | $ 3,374 |
Employee compensation and ben_7
Employee compensation and benefits - Share-based payments (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Employee Compensation And Benefits [Abstract] | |||
Expense from equity-settled share-based payment transactions in which goods or services received did not qualify for recognition as assets | $ 434 | $ 478 | $ 450 |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Expense from share-based payments | 462 | 551 | 522 |
Conditional share awards | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Expense from share-based payments | 411 | 521 | 499 |
Savings-related and other share award option plans | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Expense from share-based payments | $ 51 | $ 30 | $ 23 |
Employee compensation and ben_8
Employee compensation and benefits - HSBC share awards (Details) | 12 Months Ended |
Dec. 31, 2020GBP (£)jurisdiction | |
Deferred Restricted Share Awards | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Award vesting period | 5 years |
International Employee Share Purchase Plan | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Number of jurisdictions with plan participants | jurisdiction | 27 |
Maximum value of shares per employee per quarter | £ | £ 750 |
Award matching ratio | 0.3333 |
Award vesting period, maximum period from purchase of shares | 2 years 9 months 18 days |
Bottom of range | Deferred Restricted Share Awards | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Award vesting period | 3 years |
Top of range | Deferred Restricted Share Awards | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Award vesting period | 7 years |
Employee compensation and ben_9
Employee compensation and benefits - Movement on HSBC share awards (Details) - Conditional share awards shares in Thousands | 12 Months Ended | |
Dec. 31, 2020shares$ / shares | Dec. 31, 2019shares$ / shares | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Share awards outstanding at 1 Jan (in shares) | 97,055 | 94,897 |
Additions during the year | 72,443 | 71,858 |
Released in the year | (60,673) | (67,737) |
Forfeited in the year | (5,352) | (1,963) |
Share awards outstanding at 31 Dec (in shares) | 103,473 | 97,055 |
Weighted average fair value of awards granted (in dollars per share) | $ / shares | $ 7.28 | $ 7.89 |
Employee compensation and be_10
Employee compensation and benefits - HSBC share option plans (Details) - Savings-related Share Option Plans - GBP (£) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Employee monthly savings | £ 500 | |
Term of options granted for share-based payment arrangements | 6 months | |
Exercise price discount | 20.00% | 20.00% |
Bottom of range | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Award vesting period | 3 years | |
Top of range | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Award vesting period | 5 years |
Employee compensation and be_11
Employee compensation and benefits - Movement on HSBC share option plans (Details) $ / shares in Units, shares in Thousands | 12 Months Ended | |||||
Dec. 31, 2020shares£ / shares | Dec. 31, 2020shares£ / shares$ / shares | Dec. 31, 2019shares£ / shares | Dec. 31, 2019shares£ / shares$ / shares | Dec. 31, 2020USD ($)shares | Dec. 31, 2019USD ($)shares | |
Employee Compensation And Benefits [Abstract] | ||||||
Share options outstanding at beginning of period (in shares) | shares | 65,060 | 65,060 | 57,065 | 57,065 | ||
Granted during the year (in shares) | shares | 111,469 | 111,469 | 32,130 | 32,130 | ||
Exercised during the year (in shares) | shares | (1,387) | (1,387) | (11,806) | (11,806) | ||
Expired during the year (in shares) | shares | (43,032) | (43,032) | (11,321) | (11,321) | ||
Forfeited during the year (in shares) | shares | (1,158) | (1,158) | (1,008) | (1,008) | ||
Share options outstanding at end of period (in shares) | shares | 130,952 | 130,952 | 65,060 | 65,060 | ||
Of which exercisable (in shares) | shares | 8,170 | 2,149 | ||||
WAEP at beginning of period (in GBP per share) | £ / shares | £ 4.81 | £ 4.92 | ||||
Granted during the year (in GBP per share) | £ / shares | 2.63 | 4.69 | ||||
Exercised during the year (in GBP per share) | £ / shares | 4.48 | 4.40 | ||||
Expired during the year (in GBP per share) | £ / shares | 4.81 | 5.46 | ||||
Forfeited during the year (in GBP per share) | £ / shares | 4.88 | 4.99 | ||||
WAEP at end of period (in GBP per share) | £ / shares | 2.97 | 4.81 | ||||
Of which exercisable (in GBP per share) | £ / shares | £ 4.50 | £ 4.50 | £ 4.53 | £ 4.53 | ||
Weighted average remaining contractual life of outstanding share options | 3 years 8 months 4 days | 3 years 8 months 4 days | 2 years 9 months 7 days | 2 years 9 months 7 days | ||
Weighted average fair value of options granted | $ | $ 0.47 | $ 1.36 | ||||
Weighted average share price at the date the options were exercise (in dollars per share) | $ / shares | £ 7.08 | £ 7.99 |
Employee compensation and be_12
Employee compensation and benefits - Post-employment benefit plans (Details) £ in Millions, $ in Millions | 12 Months Ended | ||||
Dec. 31, 2020GBP (£) | Dec. 31, 2020USD ($) | Dec. 31, 2019GBP (£) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | |
Disclosure of defined benefit plans [line items] | |||||
Defined contribution assets | $ 8,426 | $ 6,510 | |||
Estimate of contributions expected to be paid to plan | 376 | ||||
Pension Plan | |||||
Disclosure of defined benefit plans [line items] | |||||
Defined contribution assets | 8,951 | 6,969 | |||
Pension Plan | Principal plan | |||||
Disclosure of defined benefit plans [line items] | |||||
Surplus (deficit) in plan | £ 2,500 | $ 3,300 | |||
Percentage of plan funded | 109.00% | 109.00% | |||
Defined contribution assets | 9,500 | $ 7,716 | $ 7,458 | ||
Pension Plan | Principal plan | Projected unit credit method | |||||
Disclosure of defined benefit plans [line items] | |||||
Fair value of plan assets, incl. defined contribution assets | £ 31,100 | 41,100 | |||
Pension Plan | Principal plan | 2021 | |||||
Disclosure of defined benefit plans [line items] | |||||
Estimate of contributions expected to be paid to plan | £ 160 | $ 218 | |||
Defined Contribution Pension Plan | Principal plan | |||||
Disclosure of defined benefit plans [line items] | |||||
Defined contribution assets | £ 2,400 | $ 3,200 |
Employee compensation and be_13
Employee compensation and benefits - Future benefit payments (Details) - Dec. 31, 2019 £ in Billions, $ in Billions | GBP (£) | USD ($) |
Employee Compensation And Benefits [Abstract] | ||
Estimated assets needed to secure all future pension payments | £ 33 | $ 44 |
Employee compensation and be_14
Employee compensation and benefits - Income statement charge (Details) £ in Millions, $ in Millions | 12 Months Ended | ||||
Dec. 31, 2020USD ($) | Dec. 31, 2020GBP (£) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2018GBP (£) | |
Employee Compensation And Benefits [Abstract] | |||||
Percentage increase in plan liabilities due to past service cost | 0.90% | 0.90% | |||
Past service cost, net defined benefit liability (asset) | $ 17 | £ 13 | $ 239 | £ 187 | |
Defined benefit pension plans | 146 | $ 176 | 355 | ||
Defined contribution pension plans | 775 | 758 | 756 | ||
Pension plans | 921 | 934 | 1,111 | ||
Defined benefit and contribution healthcare plans | 25 | 15 | 21 | ||
Post-employment benefits | $ 946 | $ 949 | $ 1,132 |
Employee compensation and be_15
Employee compensation and benefits - Net assets/(liabilities) recognised on the balance sheet in respect of defined benefit plans (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit assets (liabilities) | $ 8,426 | $ 6,510 |
Fair value of plan assets | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit assets (liabilities) | 53,104 | 47,688 |
Present value of defined benefit obligations | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit assets (liabilities) | (44,634) | (41,162) |
Effect of limit on plan surpluses | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit assets (liabilities) | (44) | (16) |
Pension Plan | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit assets (liabilities) | 8,951 | 6,969 |
Pension Plan | Fair value of plan assets | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit assets (liabilities) | 52,990 | 47,567 |
Pension Plan | Present value of defined benefit obligations | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit assets (liabilities) | (43,995) | (40,582) |
Pension Plan | Effect of limit on plan surpluses | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit assets (liabilities) | (44) | (16) |
Healthcare Plan | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit assets (liabilities) | (525) | (459) |
Healthcare Plan | Fair value of plan assets | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit assets (liabilities) | 114 | 121 |
Healthcare Plan | Present value of defined benefit obligations | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit assets (liabilities) | (639) | (580) |
Healthcare Plan | Effect of limit on plan surpluses | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit assets (liabilities) | 0 | 0 |
Accruals, deferred income and other liabilities | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit assets (liabilities) | (2,025) | (1,771) |
Prepayments, accrued income and other assets | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit assets (liabilities) | $ 10,450 | $ 8,280 |
Employee compensation and be_16
Employee compensation and benefits - HSBC Holdings (Details) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020USD ($)employee | Dec. 31, 2019USD ($)employee | Dec. 31, 2018USD ($)employee | |
Disclosure of defined benefit plans [line items] | |||
Employee compensation and benefits | $ | $ 18,076 | $ 18,002 | $ 17,373 |
Average number of employees | employee | 239,712 | 247,055 | 242,850 |
HSBC Holdings | |||
Disclosure of defined benefit plans [line items] | |||
Employee compensation and benefits | $ | $ 56 | $ 37 | $ 37 |
Average number of employees | employee | 59 | 60 |
Employee compensation and be_17
Employee compensation and benefits - Net asset/(liability) under defined benefit pension plans (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit asset/(liability) | $ 6,510 | |
Net defined benefit liability (asset) | 8,426 | $ 6,510 |
Fair value of plan assets | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit asset/(liability) | 47,688 | |
Net defined benefit liability (asset) | 53,104 | 47,688 |
Present value of defined benefit obligations | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit asset/(liability) | (41,162) | |
Net defined benefit liability (asset) | (44,634) | (41,162) |
Effect of limit on plan surpluses | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit asset/(liability) | (16) | |
Net defined benefit liability (asset) | (44) | (16) |
Pension Plan | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit asset/(liability) | 6,969 | |
Net defined benefit liability (asset) | 8,951 | 6,969 |
Pension Plan | Fair value of plan assets | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit asset/(liability) | 47,567 | |
Net defined benefit liability (asset) | 52,990 | 47,567 |
Pension Plan | Present value of defined benefit obligations | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit asset/(liability) | (40,582) | |
Net defined benefit liability (asset) | (43,995) | (40,582) |
Pension Plan | Effect of limit on plan surpluses | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit asset/(liability) | (16) | |
Net defined benefit liability (asset) | (44) | (16) |
Pension Plan | Principal plan | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit asset/(liability) | 7,716 | 7,458 |
Service cost | (68) | (64) |
– current service cost | (28) | (40) |
– past service cost and gains/(losses) from settlements | (40) | (24) |
Net interest income/(cost) on the net defined benefit asset/(liability) | 151 | 211 |
Remeasurement effects recognised in other comprehensive income | 1,055 | (343) |
– return on plan assets (excluding interest income) | 3,173 | 2,205 |
- actuarial gains/(losses) | (2,118) | (2,548) |
– other changes | 0 | 0 |
Exchange differences | 346 | 264 |
Benefits paid | 0 | 0 |
Other movements | 300 | 190 |
Net defined benefit liability (asset) | 9,500 | 7,716 |
Actuarial gains (losses) arising from changes in financial assumptions | 3,179 | 3,049 |
Actuarial gains (losses) arising from changes in demographic assumptions | 86 | 186 |
Actuarial gains (losses) arising from experience adjustments | 975 | 315 |
Pension Plan | Principal plan | Fair value of plan assets | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit asset/(liability) | 37,874 | 34,074 |
Service cost | 0 | 0 |
– current service cost | 0 | 0 |
– past service cost and gains/(losses) from settlements | 0 | 0 |
Net interest income/(cost) on the net defined benefit asset/(liability) | 726 | 939 |
Remeasurement effects recognised in other comprehensive income | 3,173 | 2,205 |
– return on plan assets (excluding interest income) | 3,173 | 2,205 |
- actuarial gains/(losses) | 0 | 0 |
– other changes | 0 | 0 |
Exchange differences | 1,446 | 1,300 |
Benefits paid | (1,148) | (1,014) |
Other movements | 434 | 370 |
Net defined benefit liability (asset) | 42,505 | 37,874 |
Pension Plan | Principal plan | Present value of defined benefit obligations | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit asset/(liability) | (30,158) | (26,616) |
Service cost | (68) | (64) |
– current service cost | (28) | (40) |
– past service cost and gains/(losses) from settlements | (40) | (24) |
Net interest income/(cost) on the net defined benefit asset/(liability) | (575) | (728) |
Remeasurement effects recognised in other comprehensive income | (2,118) | (2,548) |
– return on plan assets (excluding interest income) | 0 | 0 |
- actuarial gains/(losses) | (2,118) | (2,548) |
– other changes | 0 | 0 |
Exchange differences | (1,100) | (1,036) |
Benefits paid | 1,148 | 1,014 |
Other movements | (134) | (180) |
Net defined benefit liability (asset) | (33,005) | (30,158) |
Pension Plan | Principal plan | Effect of limit on plan surpluses | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit asset/(liability) | 0 | 0 |
Service cost | 0 | 0 |
– current service cost | 0 | 0 |
– past service cost and gains/(losses) from settlements | 0 | 0 |
Net interest income/(cost) on the net defined benefit asset/(liability) | 0 | 0 |
Remeasurement effects recognised in other comprehensive income | 0 | 0 |
– return on plan assets (excluding interest income) | 0 | 0 |
- actuarial gains/(losses) | 0 | 0 |
– other changes | 0 | 0 |
Exchange differences | 0 | 0 |
Benefits paid | 0 | 0 |
Other movements | 0 | 0 |
Net defined benefit liability (asset) | 0 | 0 |
Pension Plan | Other plans | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit asset/(liability) | (747) | (1,277) |
Service cost | (172) | (246) |
– current service cost | (184) | (183) |
– past service cost and gains/(losses) from settlements | 12 | (63) |
Net interest income/(cost) on the net defined benefit asset/(liability) | (12) | (24) |
Remeasurement effects recognised in other comprehensive income | 306 | 366 |
– return on plan assets (excluding interest income) | 692 | 870 |
- actuarial gains/(losses) | (428) | (507) |
– other changes | 42 | 3 |
Exchange differences | (140) | 0 |
Benefits paid | 75 | 74 |
Other movements | 141 | 360 |
Net defined benefit liability (asset) | (549) | (747) |
Actuarial gains (losses) arising from changes in financial assumptions | 564 | 847 |
Actuarial gains (losses) arising from changes in demographic assumptions | 49 | 94 |
Actuarial gains (losses) arising from experience adjustments | 87 | 246 |
Pension Plan | Other plans | Fair value of plan assets | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit asset/(liability) | 9,693 | 8,725 |
Service cost | 0 | 0 |
– current service cost | 0 | 0 |
– past service cost and gains/(losses) from settlements | 0 | 0 |
Net interest income/(cost) on the net defined benefit asset/(liability) | 233 | 269 |
Remeasurement effects recognised in other comprehensive income | 879 | 867 |
– return on plan assets (excluding interest income) | 692 | 870 |
- actuarial gains/(losses) | 0 | 0 |
– other changes | 187 | (3) |
Exchange differences | 249 | 181 |
Benefits paid | (652) | (620) |
Other movements | 83 | 271 |
Net defined benefit liability (asset) | 10,485 | 9,693 |
Pension Plan | Other plans | Present value of defined benefit obligations | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit asset/(liability) | (10,424) | (9,967) |
Service cost | (172) | (246) |
– current service cost | (184) | (183) |
– past service cost and gains/(losses) from settlements | 12 | (63) |
Net interest income/(cost) on the net defined benefit asset/(liability) | (245) | (293) |
Remeasurement effects recognised in other comprehensive income | (547) | (521) |
– return on plan assets (excluding interest income) | 0 | 0 |
- actuarial gains/(losses) | (428) | (507) |
– other changes | (119) | (14) |
Exchange differences | (387) | (180) |
Benefits paid | 727 | 694 |
Other movements | 58 | 89 |
Net defined benefit liability (asset) | (10,990) | (10,424) |
Pension Plan | Other plans | Effect of limit on plan surpluses | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit asset/(liability) | (16) | (35) |
Service cost | 0 | 0 |
– current service cost | 0 | 0 |
– past service cost and gains/(losses) from settlements | 0 | 0 |
Net interest income/(cost) on the net defined benefit asset/(liability) | 0 | 0 |
Remeasurement effects recognised in other comprehensive income | (26) | 20 |
– return on plan assets (excluding interest income) | 0 | 0 |
- actuarial gains/(losses) | 0 | 0 |
– other changes | (26) | 20 |
Exchange differences | (2) | (1) |
Benefits paid | 0 | 0 |
Other movements | 0 | 0 |
Net defined benefit liability (asset) | $ (44) | $ (16) |
Employee compensation and be_18
Employee compensation and benefits - Benefits expected to be paid from plans (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Employee Compensation And Benefits [Abstract] | ||
Estimate of contributions expected to be paid to plan for next annual reporting period | $ 376 | |
Pension Plan | Principal plan | ||
Disclosure of defined benefit plans [line items] | ||
Weighted average duration of defined benefit obligation | 17 years 4 months 24 days | 18 years 1 month 6 days |
Pension Plan | Principal plan | 2021 | ||
Disclosure of defined benefit plans [line items] | ||
Benefits expected to be paid from plans | $ 1,274 | |
Pension Plan | Principal plan | 2022 | ||
Disclosure of defined benefit plans [line items] | ||
Benefits expected to be paid from plans | 1,312 | |
Pension Plan | Principal plan | 2023 | ||
Disclosure of defined benefit plans [line items] | ||
Benefits expected to be paid from plans | 1,352 | |
Pension Plan | Principal plan | 2024 | ||
Disclosure of defined benefit plans [line items] | ||
Benefits expected to be paid from plans | 1,393 | |
Pension Plan | Principal plan | 2025 | ||
Disclosure of defined benefit plans [line items] | ||
Benefits expected to be paid from plans | 1,434 | |
Pension Plan | Principal plan | 2026-2030 | ||
Disclosure of defined benefit plans [line items] | ||
Benefits expected to be paid from plans | $ 7,840 | |
Pension Plan | Other plans | ||
Disclosure of defined benefit plans [line items] | ||
Weighted average duration of defined benefit obligation | 13 years 6 months | 13 years 2 months 12 days |
Pension Plan | Other plans | 2021 | ||
Disclosure of defined benefit plans [line items] | ||
Benefits expected to be paid from plans | $ 495 | |
Pension Plan | Other plans | 2022 | ||
Disclosure of defined benefit plans [line items] | ||
Benefits expected to be paid from plans | 520 | |
Pension Plan | Other plans | 2023 | ||
Disclosure of defined benefit plans [line items] | ||
Benefits expected to be paid from plans | 486 | |
Pension Plan | Other plans | 2024 | ||
Disclosure of defined benefit plans [line items] | ||
Benefits expected to be paid from plans | 472 | |
Pension Plan | Other plans | 2025 | ||
Disclosure of defined benefit plans [line items] | ||
Benefits expected to be paid from plans | 470 | |
Pension Plan | Other plans | 2026-2030 | ||
Disclosure of defined benefit plans [line items] | ||
Benefits expected to be paid from plans | $ 2,322 |
Employee compensation and be_19
Employee compensation and benefits - Fair value of plan assets by asset classes (Details) - Pension Plan - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Principal plan | ||
Disclosure of fair value of plan assets [line items] | ||
Plan assets, at fair value | $ 42,505 | $ 37,874 |
– equities | 268 | 662 |
– bonds | 36,198 | 31,699 |
– derivatives | 1,973 | 2,052 |
– other | 4,066 | 3,461 |
Principal plan | HSBC Bank plc | ||
Disclosure of fair value of plan assets [line items] | ||
Plan assets, at fair value | 973 | 1,183 |
– equities | 0 | 0 |
– bonds | 0 | 0 |
– derivatives | 973 | 1,183 |
– other | 0 | 0 |
Other plans | ||
Disclosure of fair value of plan assets [line items] | ||
Plan assets, at fair value | 10,485 | 9,693 |
– equities | 1,484 | 2,065 |
– bonds | 7,624 | 6,608 |
– derivatives | (57) | 0 |
– other | 1,434 | 1,020 |
Other plans | HSBC Bank plc | ||
Disclosure of fair value of plan assets [line items] | ||
Plan assets, at fair value | 54 | 239 |
– equities | 3 | 2 |
– bonds | 10 | 8 |
– derivatives | 0 | 0 |
– other | 41 | 229 |
Quoted market price in active market | Principal plan | ||
Disclosure of fair value of plan assets [line items] | ||
Plan assets, at fair value | 37,689 | 33,921 |
– equities | 7 | 312 |
– bonds | 35,479 | 31,699 |
– derivatives | 0 | 0 |
– other | 2,203 | 1,910 |
Quoted market price in active market | Other plans | ||
Disclosure of fair value of plan assets [line items] | ||
Plan assets, at fair value | 9,512 | 8,702 |
– equities | 1,069 | 1,455 |
– bonds | 7,143 | 6,376 |
– derivatives | 0 | 0 |
– other | 1,300 | 871 |
No quoted market price in active market | Principal plan | ||
Disclosure of fair value of plan assets [line items] | ||
Plan assets, at fair value | 4,816 | 3,953 |
– equities | 261 | 350 |
– bonds | 719 | 0 |
– derivatives | 1,973 | 2,052 |
– other | 1,863 | 1,551 |
No quoted market price in active market | Other plans | ||
Disclosure of fair value of plan assets [line items] | ||
Plan assets, at fair value | 973 | 991 |
– equities | 415 | 610 |
– bonds | 481 | 232 |
– derivatives | (57) | 0 |
– other | $ 134 | $ 149 |
Employee compensation and be_20
Employee compensation and benefits - Key actuarial assumptions for the principal plan (Details) - Pension Plan - Principal plan | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of defined benefit plans [line items] | ||
Discount rate | 1.45% | 2.00% |
Inflation rate | 3.05% | 3.10% |
Rate of increase for pensions | 3.00% | 2.90% |
Rate of pay increase | 2.75% | 3.65% |
Employee compensation and be_21
Employee compensation and benefits - Mortality tables and average life expectancy at age 65 for the principal plan (Details) - Pension Plan - Principal plan | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Aged 60, Male | ||
Disclosure of defined benefit plans [line items] | ||
Life expectancy at age 60 | 27 years | 28 years |
Aged 40, Male | ||
Disclosure of defined benefit plans [line items] | ||
Life expectancy at age 60 | 28 years 6 months | 29 years 4 months 24 days |
Aged 60, Female | ||
Disclosure of defined benefit plans [line items] | ||
Life expectancy at age 60 | 28 years 1 month 6 days | 28 years 2 months 12 days |
Aged 40, Female | ||
Disclosure of defined benefit plans [line items] | ||
Life expectancy at age 60 | 29 years 8 months 12 days | 29 years 9 months 18 days |
Employee compensation and be_22
Employee compensation and benefits - The effect of changes in key assumptions on the principal plan (Details) - Pension Plan - Principal plan - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Discount rate | ||
Disclosure of sensitivity analysis for actuarial assumptions [line items] | ||
Financial impact of increase | $ (1,383) | $ (1,305) |
Financial impact of decrease | $ 1,475 | $ 1,395 |
Percentage of reasonably possible increase in actuarial assumption | 0.25% | 0.25% |
Percentage of reasonably possible decrease in actuarial assumption | 0.25% | 0.25% |
Percentage of reasonably possible increase in actuarial assumption | 0.25% | 0.25% |
Percentage of reasonably possible decrease in actuarial assumption | 0.25% | 0.25% |
Inflation rate | ||
Disclosure of sensitivity analysis for actuarial assumptions [line items] | ||
Financial impact of increase | $ 871 | $ 781 |
Financial impact of decrease | $ (830) | $ (738) |
Percentage of reasonably possible increase in actuarial assumption | 0.25% | 0.25% |
Percentage of reasonably possible decrease in actuarial assumption | 0.25% | 0.25% |
Percentage of reasonably possible increase in actuarial assumption | 0.25% | 0.25% |
Percentage of reasonably possible decrease in actuarial assumption | 0.25% | 0.25% |
Pension payments and deferred pensions | ||
Disclosure of sensitivity analysis for actuarial assumptions [line items] | ||
Financial impact of increase | $ 1,307 | $ 1,100 |
Financial impact of decrease | $ (1,222) | $ (1,026) |
Percentage of reasonably possible increase in actuarial assumption | 0.25% | 0.25% |
Percentage of reasonably possible decrease in actuarial assumption | 0.25% | 0.25% |
Percentage of reasonably possible increase in actuarial assumption | 0.25% | 0.25% |
Percentage of reasonably possible decrease in actuarial assumption | 0.25% | 0.25% |
Pay | ||
Disclosure of sensitivity analysis for actuarial assumptions [line items] | ||
Financial impact of increase | $ 60 | $ 73 |
Financial impact of decrease | $ (59) | $ (72) |
Percentage of reasonably possible increase in actuarial assumption | 0.25% | 0.25% |
Percentage of reasonably possible decrease in actuarial assumption | 0.25% | 0.25% |
Percentage of reasonably possible increase in actuarial assumption | 0.25% | 0.25% |
Percentage of reasonably possible decrease in actuarial assumption | 0.25% | 0.25% |
Change in mortality | ||
Disclosure of sensitivity analysis for actuarial assumptions [line items] | ||
Financial impact of increase | $ 1,453 | $ 1,267 |
Duration of reasonably possible increase in actuarial assumption | 1 year | |
Duration of reasonably possible increase in actuarial assumption | 1 year |
Auditor's remuneration - Summar
Auditor's remuneration - Summary of auditor's remuneration (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Additional information [abstract] | |||
Audit fees payable to PwC | $ 92.9 | $ 85.2 | $ 86.6 |
Other audit fees payable | 1 | 0.9 | 0.9 |
Year ended 31 Dec | $ 93.9 | $ 86.1 | $ 87.5 |
Auditor's remuneration - Fees p
Auditor's remuneration - Fees payable by HSBC to PwC (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Additional information [abstract] | |||
Fees for HSBC Holdings’ statutory audit | $ 21.9 | $ 15.7 | $ 16.4 |
Fees for other services provided to HSBC | 108.3 | 95 | 103.1 |
– audit of HSBC’s subsidiaries | 71 | 69.5 | 70.2 |
– audit-related assurance services | 17.2 | 10 | 11.4 |
– other assurance services | 20.1 | 12.2 | 13.5 |
– taxation compliance services | 0 | 1.6 | 1.4 |
– taxation advisory services | 0 | 0 | 0.1 |
– other non-audit services | 0 | 1.7 | 6.5 |
Year ended 31 Dec | $ 130.2 | $ 110.7 | $ 119.5 |
Auditor's remuneration - Fees_2
Auditor's remuneration - Fees payable by HSBC's associated pension schemes to PwC (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of defined benefit plans [line items] | |||
Audit of HSBC’s associated pension schemes | $ 93,900 | $ 86,100 | $ 87,500 |
Year ended 31 Dec | 130,200 | 110,700 | 119,500 |
Pension Plan | |||
Disclosure of defined benefit plans [line items] | |||
Audit of HSBC’s associated pension schemes | 316 | 250 | 172 |
Year ended 31 Dec | 316 | 250 | 172 |
Estimated fees paid by associated third parties | $ 12,300 | $ 17,200 | $ 14,000 |
Tax - Tax expense (Details)
Tax - Tax expense (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Income Taxes [Abstract] | |||
Current tax | $ 2,700 | $ 3,768 | $ 4,195 |
– for this year | 2,883 | 3,689 | 4,158 |
– adjustments in respect of prior years | (183) | 79 | 37 |
Deferred tax | (22) | 871 | 670 |
– origination and reversal of temporary differences | (341) | 684 | 656 |
– effect of changes in tax rates | 58 | (11) | 17 |
– adjustments in respect of prior years | 261 | 198 | (3) |
Total tax expense | 2,678 | 4,639 | 4,865 |
Summary Of Income Taxes [Line Items] | |||
Tax expense | $ 1,668 | $ 2,536 | $ 3,779 |
Applicable tax rate | 19.00% | 19.00% | 19.00% |
Tax charge recorded directly to equity | $ 7 | $ 6 | |
Hong Kong | |||
Summary Of Income Taxes [Line Items] | |||
Tax expense | $ 888 | $ 1,413 | $ 1,532 |
Applicable tax rate | 16.50% | 16.50% | 16.50% |
Tax - Tax reconciliation (Detai
Tax - Tax reconciliation (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Reconciliation of accounting profit multiplied by applicable tax rates [abstract] | |||
Profit before tax | $ 8,777 | $ 13,347 | $ 19,890 |
Taxation at UK corporation tax rate of 19.00% (2019: 19.00%; 2018: 19.00%) | 1,668 | 2,536 | 3,779 |
Impact of differently taxed overseas profits in overseas locations | 178 | 253 | 264 |
– non-UK movements in unrecognised deferred tax | 608 | 12 | 32 |
– UK tax losses not recognised | 444 | 364 | 435 |
– other permanent disallowables | 322 | 481 | 396 |
– local taxes and overseas withholding taxes | 228 | 484 | 437 |
– bank levy | 202 | 184 | 191 |
– adjustments in respect of prior period liabilities | 78 | 277 | 34 |
– impacts of hyperinflation | 65 | 29 | 78 |
– impact of changes in tax rates | 58 | (11) | 17 |
– non-deductible regulatory settlements | 33 | 5 | 153 |
– non-deductible goodwill write-down | 0 | 1,421 | 0 |
– non-taxable income and gains | (515) | (844) | (691) |
– deductions for AT1 coupon payments | (310) | (263) | 0 |
– effect of profits in associates and joint ventures | (250) | (467) | (492) |
– UK banking surcharge | (113) | 29 | 229 |
– non-deductible UK customer compensation | (18) | 382 | 16 |
– non-taxable gain on dilution of shareholding in SABB | 0 | (181) | 0 |
– other items | 0 | (52) | (13) |
Total tax expense | $ 2,678 | $ 4,639 | $ 4,865 |
Reconciliation of average effective tax rate and applicable tax rate [abstract] | |||
Taxation at UK corporation tax rate of 19.00% (2019: 19.00%; 2018: 19.00%) | 19.00% | 19.00% | 19.00% |
Impact of differently taxed overseas profits in overseas locations | 2.00% | 1.90% | 1.30% |
– non-UK movements in unrecognised deferred tax | 6.90% | 0.10% | 0.20% |
– UK tax losses not recognised | 5.10% | 2.70% | 2.20% |
– other permanent disallowables | 3.60% | 3.60% | 2.00% |
– local taxes and overseas withholding taxes | 2.60% | 3.60% | 2.20% |
– bank levy | 2.30% | 1.40% | 1.00% |
– adjustments in respect of prior period liabilities | 0.90% | 2.10% | 0.20% |
– impacts of hyperinflation | 0.70% | 0.20% | 0.40% |
– impact of changes in tax rates | 0.60% | (0.10%) | 0.10% |
– non-deductible regulatory settlements | 0.40% | 0.00% | 0.80% |
– non-deductible goodwill write-down | 0.00% | 10.70% | 0.00% |
– non-taxable income and gains | (5.80%) | (6.30%) | (3.50%) |
– deductions for AT1 coupon payments | (3.50%) | (2.00%) | 0.00% |
– effect of profits in associates and joint ventures | (2.80%) | (3.50%) | (2.50%) |
– UK banking surcharge | (1.30%) | 0.20% | 1.10% |
– non-deductible UK customer compensation | (0.20%) | 2.90% | 0.10% |
– non-taxable gain on dilution of shareholding in SABB | 0.00% | (1.30%) | 0.00% |
– other items | 0.00% | (0.40%) | (0.10%) |
Average effective tax rate | 30.50% | 34.80% | 24.50% |
Tax - Tax reconciliation commen
Tax - Tax reconciliation commentary (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Summary Of Income Taxes [Line Items] | |||
Applicable tax rate | 19.00% | 19.00% | 19.00% |
Average effective tax rate | 30.50% | 34.80% | 24.50% |
Goodwill impairment | $ 41 | $ 7,349 | $ 0 |
– non-deductible goodwill write-down | 0.00% | 10.70% | 0.00% |
– non-deductible UK customer compensation | (0.20%) | 2.90% | 0.10% |
– UK tax losses not recognised | $ 444 | $ 364 | $ 435 |
– non-UK movements in unrecognised deferred tax | $ 608 | $ 12 | $ 32 |
Increase in tax rate effect of non deductible UK customer compensation | 3.10% | ||
Increase (decrease) in tax rate effect of tax losses | 9.20% | ||
Pro Forma | |||
Summary Of Income Taxes [Line Items] | |||
Average effective tax rate | 21.00% | 20.90% | |
Hong Kong | |||
Summary Of Income Taxes [Line Items] | |||
Applicable tax rate | 16.50% | 16.50% | 16.50% |
United States | |||
Summary Of Income Taxes [Line Items] | |||
Applicable tax rate | 21.00% | ||
UK | |||
Summary Of Income Taxes [Line Items] | |||
Applicable tax rate | 19.00% | ||
France | |||
Summary Of Income Taxes [Line Items] | |||
– non-UK movements in unrecognised deferred tax | $ 400 |
Tax - Movement of deferred tax
Tax - Movement of deferred tax assets and liabilities (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Assets | $ 5,450 | $ 5,148 |
Liabilities | (4,193) | (3,317) |
Deferred tax asset (liability) | 1,257 | 1,831 |
Income statement | 22 | (871) |
Other comprehensive income | (1,070) | 183 |
Foreign exchange and other adjustments | (39) | 114 |
Deferred tax asset (liability) | 170 | 1,257 |
Assets | 6,037 | 5,450 |
Liabilities | (5,867) | (4,193) |
Deferred tax assets | 4,483 | 4,632 |
Deferred tax liabilities | 4,313 | 3,375 |
Loan impairment provisions | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Assets | 983 | 982 |
Deferred tax asset (liability) | 983 | 982 |
Income statement | 295 | 45 |
Foreign exchange and other adjustments | (36) | (44) |
Deferred tax asset (liability) | 1,242 | 983 |
Assets | 1,242 | 983 |
Unused tax losses and tax credits | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Assets | 1,414 | 1,156 |
Deferred tax asset (liability) | 1,414 | 1,156 |
Income statement | 355 | 266 |
Foreign exchange and other adjustments | 52 | (8) |
Deferred tax asset (liability) | 1,821 | 1,414 |
Assets | 1,821 | 1,414 |
Derivatives, FVOD and other investments | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Assets | 979 | 492 |
Liabilities | (558) | (376) |
Deferred tax asset (liability) | 421 | 116 |
Income statement | (274) | (386) |
Other comprehensive income | (23) | 544 |
Foreign exchange and other adjustments | (281) | 147 |
Deferred tax asset (liability) | (157) | 421 |
Assets | 548 | 979 |
Liabilities | (705) | (558) |
Insurance business | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Liabilities | (1,621) | (1,271) |
Deferred tax asset (liability) | (1,621) | (1,271) |
Income statement | (32) | (303) |
Foreign exchange and other adjustments | 31 | (47) |
Deferred tax asset (liability) | (1,622) | (1,621) |
Liabilities | (1,622) | (1,621) |
Expense provisions | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Assets | 650 | 629 |
Deferred tax asset (liability) | 650 | 629 |
Income statement | (81) | (18) |
Foreign exchange and other adjustments | (4) | 39 |
Deferred tax asset (liability) | 565 | 650 |
Assets | 565 | 650 |
Fixed assets | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Assets | 1,002 | 1,151 |
Deferred tax asset (liability) | 1,002 | 1,151 |
Income statement | (112) | (185) |
Foreign exchange and other adjustments | 11 | 36 |
Deferred tax asset (liability) | 901 | 1,002 |
Assets | 901 | 1,002 |
Retirement obligations | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Liabilities | (1,613) | (1,387) |
Deferred tax asset (liability) | (1,613) | (1,387) |
Income statement | (190) | (149) |
Other comprehensive income | (387) | 30 |
Foreign exchange and other adjustments | (116) | (107) |
Deferred tax asset (liability) | (2,306) | (1,613) |
Liabilities | (2,306) | (1,613) |
Other | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Assets | 422 | 738 |
Liabilities | (401) | (283) |
Deferred tax asset (liability) | 21 | 455 |
Income statement | 61 | (141) |
Other comprehensive income | (660) | (391) |
Foreign exchange and other adjustments | 304 | 98 |
Deferred tax asset (liability) | (274) | 21 |
Assets | 960 | 422 |
Liabilities | $ (1,234) | $ (401) |
Tax - Movement of deferred ta_2
Tax - Movement of deferred tax assets and liabilities commentary (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax asset (liability) | $ 170 | $ 1,257 | $ 1,831 |
Period for majority recovery of deferred tax assets (liabilities) | 5 years | ||
Management's approved financial forecast period | 5 years | ||
Gross temporary differences, unused tax losses and unused tax credits for which no deferred tax asset is recognised | $ 15,600 | 9,900 | |
Unused tax losses for which no deferred tax asset recognised | 9,300 | 7,300 | |
Temporary differences related to unrecognised deferred tax liabilities arising on investments in subsidiaries and branches | 12,100 | 13,400 | |
Temporary differences from investments in subsidiaries and branches | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax asset (liability) | (700) | (1,000) | |
United States | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax asset (liability) | 2,400 | 2,800 | |
United States | Unused tax losses | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax asset (liability) | 1,000 | ||
Decrease in deferred tax asset | 250 | ||
UK | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax asset (liability) | 600 | (500) | |
UK | Unused tax losses | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax asset (liability) | $ 500 | ||
Bottom of range | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Period for substantial recovery of deferred tax assets (liabilities) | 7 years | ||
Bottom of range | United States | Unused tax losses | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax asset and liability expiration period | 13 years | ||
Top of range | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Period for substantial recovery of deferred tax assets (liabilities) | 8 years | ||
Top of range | United States | Unused tax losses | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax asset and liability expiration period | 17 years | ||
Not subject to expiration | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Gross temporary differences, unused tax losses and unused tax credits for which no deferred tax asset is recognised | $ 11,500 | 7,400 | |
Expiration within 10 years | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Gross temporary differences, unused tax losses and unused tax credits for which no deferred tax asset is recognised | $ 700 | $ 1,300 |
Dividends - Dividends to shareh
Dividends - Dividends to shareholders of the parent company (Details) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Dividends Payable [Line Items] | |||
Dividends paid on ordinary shares per share (in dollars per share) | $ 0 | $ 0.51 | $ 0.51 |
Dividends paid on ordinary shares | $ 0 | $ 10,269 | $ 10,187 |
Settled in scrip | 0 | 2,687 | 1,494 |
Dividends on preference shares classified as equity | $ 1,331 | $ 11,683 | $ 11,547 |
Preference shares | |||
Dividends Payable [Line Items] | |||
Dividends on preference shares classified as equity (in dollars per share) | $ 62 | $ 62 | $ 62 |
Dividends on preference shares classified as equity | $ 90 | $ 90 | $ 90 |
Other equity instruments | |||
Dividends Payable [Line Items] | |||
Dividends on preference shares classified as equity | $ 1,241 | $ 1,324 | $ 1,270 |
– fourth interim dividend | |||
Dividends Payable [Line Items] | |||
Dividends paid on ordinary shares per share (in dollars per share) | $ 0 | $ 0.21 | $ 0.21 |
Dividends paid on ordinary shares | $ 0 | $ 4,206 | $ 4,197 |
Settled in scrip | $ 0 | $ 1,160 | $ 393 |
– first interim dividend | |||
Dividends Payable [Line Items] | |||
Dividends paid on ordinary shares per share (in dollars per share) | $ 0 | $ 0.10 | $ 0.10 |
Dividends paid on ordinary shares | $ 0 | $ 2,013 | $ 2,008 |
Settled in scrip | $ 0 | $ 375 | $ 213 |
– second interim dividend | |||
Dividends Payable [Line Items] | |||
Dividends paid on ordinary shares per share (in dollars per share) | $ 0 | $ 0.10 | $ 0.10 |
Dividends paid on ordinary shares | $ 0 | $ 2,021 | $ 1,990 |
Settled in scrip | $ 0 | $ 795 | $ 181 |
– third interim dividend | |||
Dividends Payable [Line Items] | |||
Dividends paid on ordinary shares per share (in dollars per share) | $ 0 | $ 0.10 | $ 0.10 |
Dividends paid on ordinary shares | $ 0 | $ 2,029 | $ 1,992 |
Settled in scrip | $ 0 | $ 357 | $ 707 |
Dividends - Total coupons on ca
Dividends - Total coupons on capital securities classified as equity (Details) | 12 Months Ended | ||||||||
Dec. 31, 2020USD ($)$ / shares | Dec. 31, 2020USD ($)€ / shares | Dec. 31, 2020USD ($)£ / shares | Dec. 31, 2020USD ($)$ / shares | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2020GBP (£) | Dec. 31, 2020SGD ($) | Dec. 31, 2020EUR (€) | |
Disclosure Of Other Equity [Line Items] | |||||||||
Dividends on other equity instruments | $ 1,331,000,000 | $ 11,683,000,000 | $ 11,547,000,000 | ||||||
8.125% Perpetual Subordinated Capital Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | $ 2,200 | $ 2,200 | $ 2,200 | $ 2,200 | |||||
Other equity instruments interest rate | 8.125% | 8.125% | 8.125% | 8.125% | 8.125% | 8.125% | 8.125% | ||
8.000% Perpetual Subordinated Capital Securities, Series 2 | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | $ 3,800 | $ 3,800 | $ 3,800 | $ 3,800 | |||||
Other equity instruments interest rate | 8.00% | 8.00% | 8.00% | 8.00% | 8.00% | 8.00% | 8.00% | ||
$1,500m 5.625% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | $ 1,500 | $ 1,500 | $ 1,500 | $ 1,500 | |||||
Other equity instruments interest rate | 5.625% | 5.625% | 5.625% | 5.625% | 5.625% | 5.625% | 5.625% | ||
$2,000m 6.875% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | $ 2,000 | $ 2,000 | $ 2,000 | $ 2,000 | |||||
Other equity instruments interest rate | 6.875% | 6.875% | 6.875% | 6.875% | 6.875% | 6.875% | 6.875% | ||
$2,250m 6.375% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | $ 2,250 | $ 2,250 | $ 2,250 | $ 2,250 | |||||
Other equity instruments interest rate | 6.375% | 6.375% | 6.375% | 6.375% | 6.375% | 6.375% | 6.375% | ||
$2,450m 6.375% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | $ 2,450 | $ 2,450 | $ 2,450 | $ 2,450 | |||||
Other equity instruments interest rate | 6.375% | 6.375% | 6.375% | 6.375% | 6.375% | 6.375% | 6.375% | ||
$3,000m 6.000% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | $ 3,000 | $ 3,000 | $ 3,000 | $ 3,000 | |||||
Other equity instruments interest rate | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | ||
$2,350m 6.250% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | $ 2,350 | $ 2,350 | $ 2,350 | $ 2,350 | |||||
Other equity instruments interest rate | 6.25% | 6.25% | 6.25% | 6.25% | 6.25% | 6.25% | 6.25% | ||
$1,800m 6.500% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | $ 1,800 | $ 1,800 | $ 1,800 | $ 1,800 | |||||
Other equity instruments interest rate | 6.50% | 6.50% | 6.50% | 6.50% | 6.50% | 6.50% | 6.50% | ||
$1,500m 4.600% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | $ 1,500 | $ 1,500 | $ 1,500 | $ 1,500 | |||||
Other equity instruments interest rate | 4.60% | 4.60% | 4.60% | 4.60% | 4.60% | 4.60% | 4.60% | ||
EUR 1,500m 5.250% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | € | € 1,500 | ||||||||
Other equity instruments interest rate | 5.25% | 5.25% | 5.25% | 5.25% | 5.25% | 5.25% | 5.25% | ||
EUR 1,000m 6.000% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | € | € 1,000 | ||||||||
Other equity instruments interest rate | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | ||
EUR 1,250m 4.750% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | € | € 1,250 | ||||||||
Other equity instruments interest rate | 4.75% | 4.75% | 4.75% | 4.75% | 4.75% | 4.75% | 4.75% | ||
GBP 1,000m 5.875% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | £ | £ 1,000 | ||||||||
Other equity instruments interest rate | 5.875% | 5.875% | 5.875% | 5.875% | 5.875% | 5.875% | 5.875% | ||
SGD 1000m 4.700% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | $ 1,000 | ||||||||
Other equity instruments interest rate | 4.70% | 4.70% | 4.70% | 4.70% | 4.70% | 4.70% | 4.70% | ||
SGD 750m 5.000% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | $ 750 | ||||||||
Other equity instruments interest rate | 5.00% | 5.00% | 5.00% | 5.00% | 5.00% | 5.00% | 5.00% | ||
Other equity interest | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Dividends on other equity instruments | $ 1,241,000,000 | 1,324,000,000 | 1,270,000,000 | ||||||
Other equity interest | 8.125% Perpetual Subordinated Capital Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Dividends on other equity instruments (in dollars per share) | $ / shares | $ 0 | ||||||||
Dividends on other equity instruments | $ 0 | 0 | 89,000,000 | ||||||
Other equity interest | 8.000% Perpetual Subordinated Capital Securities, Series 2 | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Dividends on other equity instruments (in dollars per share) | $ / shares | $ 0 | ||||||||
Dividends on other equity instruments | $ 0 | 0 | 76,000,000 | ||||||
Other equity interest | $1,500m 5.625% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Dividends on other equity instruments (in dollars per share) | $ / shares | $ 56.250 | ||||||||
Dividends on other equity instruments | $ 0 | 84,000,000 | 84,000,000 | ||||||
Other equity interest | $2,000m 6.875% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Dividends on other equity instruments (in dollars per share) | $ / shares | $ 68.750 | ||||||||
Dividends on other equity instruments | $ 138,000,000 | 138,000,000 | 138,000,000 | ||||||
Other equity interest | $2,250m 6.375% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Dividends on other equity instruments (in dollars per share) | $ / shares | $ 63.750 | ||||||||
Dividends on other equity instruments | $ 143,000,000 | 143,000,000 | 143,000,000 | ||||||
Other equity interest | $2,450m 6.375% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Dividends on other equity instruments (in dollars per share) | $ / shares | $ 63.750 | ||||||||
Dividends on other equity instruments | $ 156,000,000 | 156,000,000 | 156,000,000 | ||||||
Other equity interest | $3,000m 6.000% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Dividends on other equity instruments (in dollars per share) | $ / shares | $ 60 | ||||||||
Dividends on other equity instruments | $ 180,000,000 | 180,000,000 | 180,000,000 | ||||||
Other equity interest | $2,350m 6.250% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Dividends on other equity instruments (in dollars per share) | $ / shares | $ 62.500 | ||||||||
Dividends on other equity instruments | $ 147,000,000 | 147,000,000 | 73,000,000 | ||||||
Other equity interest | $1,800m 6.500% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Dividends on other equity instruments (in dollars per share) | $ / shares | $ 65 | ||||||||
Dividends on other equity instruments | $ 117,000,000 | 117,000,000 | 59,000,000 | ||||||
Other equity interest | $1,500m 4.600% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Dividends on other equity instruments (in dollars per share) | $ / shares | $ 46 | ||||||||
Dividends on other equity instruments | $ 0 | 0 | 0 | ||||||
Other equity interest | EUR 1,500m 5.250% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Dividends on other equity instruments (in dollars per share) | € / shares | $ 52.500 | ||||||||
Dividends on other equity instruments | 90,000,000 | 88,000,000 | 95,000,000 | ||||||
Other equity interest | EUR 1,000m 6.000% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Dividends on other equity instruments (in dollars per share) | € / shares | 60 | ||||||||
Dividends on other equity instruments | 67,000,000 | 66,000,000 | 72,000,000 | ||||||
Other equity interest | EUR 1,250m 4.750% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Dividends on other equity instruments (in dollars per share) | € / shares | $ 47.500 | ||||||||
Dividends on other equity instruments | 67,000,000 | 68,000,000 | 70,000,000 | ||||||
Other equity interest | GBP 1,000m 5.875% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Dividends on other equity instruments (in dollars per share) | £ / shares | $ 58.750 | ||||||||
Dividends on other equity instruments | 74,000,000 | 75,000,000 | 0 | ||||||
Other equity interest | SGD 1000m 4.700% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Dividends on other equity instruments (in dollars per share) | $ / shares | $ 47 | ||||||||
Dividends on other equity instruments | 35,000,000 | 34,000,000 | 35,000,000 | ||||||
Other equity interest | SGD 750m 5.000% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Dividends on other equity instruments (in dollars per share) | $ / shares | $ 50 | ||||||||
Dividends on other equity instruments | 27,000,000 | $ 28,000,000 | $ 0 | ||||||
Capital securities classified as equity | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Discretionary coupons denominations per security | 25 | $ 25 | $ 25 | $ 25 | |||||
Contingent convertible securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Discretionary coupons denominations per security | 1,000 | 1,000 | 1,000 | 1,000 | |||||
Contingent convertible securities | $1,500m 5.625% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | $ 1,500,000,000 | $ 1,500,000,000 | $ 1,500,000,000 | $ 1,500,000,000 | |||||
Other equity instruments interest rate | 5.625% | 5.625% | 5.625% | 5.625% | 5.625% | 5.625% | 5.625% | ||
Contingent convertible securities | $2,000m 6.875% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | $ 2,000,000,000 | $ 2,000,000,000 | $ 2,000,000,000 | $ 2,000,000,000 | |||||
Other equity instruments interest rate | 6.875% | 6.875% | 6.875% | 6.875% | 6.875% | 6.875% | 6.875% | ||
Contingent convertible securities | $2,250m 6.375% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | $ 2,250,000,000 | $ 2,250,000,000 | $ 2,250,000,000 | $ 2,250,000,000 | |||||
Other equity instruments interest rate | 6.375% | 6.375% | 6.375% | 6.375% | 6.375% | 6.375% | 6.375% | ||
Contingent convertible securities | $2,450m 6.375% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | $ 2,450,000,000 | $ 2,450,000,000 | $ 2,450,000,000 | $ 2,450,000,000 | |||||
Other equity instruments interest rate | 6.375% | 6.375% | 6.375% | 6.375% | 6.375% | 6.375% | 6.375% | ||
Contingent convertible securities | $3,000m 6.000% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | $ 3,000,000,000 | $ 3,000,000,000 | $ 3,000,000,000 | $ 3,000,000,000 | |||||
Other equity instruments interest rate | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | ||
Contingent convertible securities | $2,350m 6.250% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | $ 2,350,000,000 | $ 2,350,000,000 | $ 2,350,000,000 | $ 2,350,000,000 | |||||
Other equity instruments interest rate | 6.25% | 6.25% | 6.25% | 6.25% | 6.25% | 6.25% | 6.25% | ||
Contingent convertible securities | $1,800m 6.500% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | $ 1,800,000,000 | $ 1,800,000,000 | $ 1,800,000,000 | $ 1,800,000,000 | |||||
Other equity instruments interest rate | 6.50% | 6.50% | 6.50% | 6.50% | 6.50% | 6.50% | 6.50% | ||
Contingent convertible securities | $1,500m 4.600% 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 | 4.60% | 4.60% | 4.60% | 4.60% | 4.60% | 4.60% | 4.60% | ||
Contingent convertible securities | EUR 1,500m 5.250% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | € | € 1,500,000,000 | ||||||||
Other equity instruments interest rate | 5.25% | 5.25% | 5.25% | 5.25% | 5.25% | 5.25% | 5.25% | ||
Contingent convertible securities | EUR 1,000m 6.000% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | € | € 1,000,000,000 | ||||||||
Other equity instruments interest rate | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | ||
Contingent convertible securities | EUR 1,250m 4.750% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | € | € 1,250,000,000 | ||||||||
Other equity instruments interest rate | 4.75% | 4.75% | 4.75% | 4.75% | 4.75% | 4.75% | 4.75% | ||
Contingent convertible securities | GBP 1,000m 5.875% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | £ | £ 1,000,000,000 | ||||||||
Other equity instruments interest rate | 5.875% | 5.875% | 5.875% | 5.875% | 5.875% | 5.875% | 5.875% | ||
Contingent convertible securities | SGD 1000m 4.700% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | $ 1,000,000,000 | ||||||||
Other equity instruments interest rate | 4.70% | 4.70% | 4.70% | 4.70% | 4.70% | 4.70% | 4.70% | ||
Contingent convertible securities | SGD 750m 5.000% Perpetual Subordinated Contingent Convertible Securities | |||||||||
Disclosure Of Other Equity [Line Items] | |||||||||
Notional amount | $ 750,000,000 | ||||||||
Other equity instruments interest rate | 5.00% | 5.00% | 5.00% | 5.00% | 5.00% | 5.00% | 5.00% |
Dividends - Total coupons on _2
Dividends - Total coupons on capital securities classified as equity (commentary) (Details) $ / shares in Units, € in Millions, $ in Millions | Jan. 06, 2021USD ($) | Jan. 06, 2021EUR (€) | Dec. 31, 2020USD ($)$ / shares | Dec. 31, 2020EUR (€) |
EUR 1,250m Subordinated Capital Securities | ||||
Disclosure of classes of share capital [line items] | ||||
Notional amount | € | € 1,250 | |||
Ordinary shares | ||||
Disclosure of classes of share capital [line items] | ||||
Dividends declared before financial statements authorised for issue, per share (in dollars per share) | $ / shares | $ 0.15 | |||
Dividends declared before financial statements authorized for issue | $ | $ 3,055 | |||
Subsequent Event | EUR 1,250m Subordinated Capital Securities | Major ordinary share transactions | ||||
Disclosure of classes of share capital [line items] | ||||
Dividends declared before financial statements authorized for issue | $ 36 | € 30 |
Earnings per share - Profit Att
Earnings per share - Profit Attributable to Ordinary Shareholders (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Earnings per share [abstract] | |||
Profit attributable to shareholders of the parent company | $ 5,229 | $ 7,383 | $ 13,727 |
Dividend payable on preference shares classified as equity | (90) | (90) | (90) |
Coupon payable on capital securities classified as equity | (1,241) | (1,324) | (1,029) |
Profit (loss), attributable to ordinary equity holders of parent entity | $ 3,898 | $ 5,969 | $ 12,608 |
Earnings per share - Basic and
Earnings per share - Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Earnings per share [abstract] | |||
Profit attributable to ordinary shareholders of the parent company | $ 3,898 | $ 5,969 | $ 12,608 |
Weighted average number of ordinary shares outstanding (in shares) | 20,169 | 20,158 | 19,896 |
Effect of dilutive potential ordinary shares (in shares) | 73 | 75 | 87 |
Adjusted weighted average number of ordinary shares outstanding (in shares) | 20,242 | 20,233 | 19,983 |
Basic earnings per share (in dollars per share) | $ 0.19 | $ 0.30 | $ 0.63 |
Diluted earnings per share (in dollars per share) | $ 0.19 | $ 0.30 | $ 0.63 |
Antidilutive securities (in shares) | 14.6 | 1.1 | 0 |
Segmental analysis - Adjusted p
Segmental analysis - Adjusted profit before tax and balance sheet data (Details) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020USD ($)global_function | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | |
Report Of The Directors Strategic Report [Abstract] | |||
Number of global businesses | global_function | 3 | ||
Disclosure of operating segments [line items] | |||
Revenue and other operating income | $ 50,429 | $ 56,098 | $ 53,780 |
of which: net interest income/(expense) | 27,578 | 30,462 | 30,489 |
Change in expected credit losses and other credit impairment (charges)/recoveries | (8,817) | (2,756) | (1,767) |
Net operating income | 41,612 | 53,342 | 52,013 |
Total operating expenses | (34,432) | (42,349) | (34,659) |
Operating profit | 7,180 | 10,993 | 17,354 |
Share of profit in associates and joint ventures | 1,597 | 2,354 | 2,536 |
Profit before tax | 8,777 | 13,347 | 19,890 |
Loans and advances to customers (net) | 1,037,987 | 1,036,743 | 981,696 |
Interests in associates and joint ventures | 26,684 | 24,474 | 22,407 |
Total external assets | 2,984,164 | 2,715,152 | 2,558,124 |
Customer accounts | 1,642,780 | 1,439,115 | 1,362,643 |
Inter-segment | |||
Disclosure of operating segments [line items] | |||
Revenue and other operating income | 0 | 0 | 0 |
Inter-segment | Wealth and Personal Banking | |||
Disclosure of operating segments [line items] | |||
Revenue and other operating income | 2,023 | 4,313 | 4,455 |
Inter-segment | Commercial Banking | |||
Disclosure of operating segments [line items] | |||
Revenue and other operating income | (429) | (930) | (301) |
Inter-segment | Global Banking and Markets | |||
Disclosure of operating segments [line items] | |||
Revenue and other operating income | (2,859) | (5,445) | (3,724) |
Inter-segment | Corporate Centre | |||
Disclosure of operating segments [line items] | |||
Revenue and other operating income | 1,265 | 2,062 | (430) |
Operating segments excluding intersegment elimination | |||
Disclosure of operating segments [line items] | |||
Revenue and other operating income | 50,366 | 54,944 | 52,098 |
of which: net interest income/(expense) | 27,599 | 30,339 | 29,448 |
Change in expected credit losses and other credit impairment (charges)/recoveries | (2,627) | (1,620) | |
Total operating expenses | (31,459) | (32,519) | (31,723) |
Share of profit in associates and joint ventures | 2,351 | 2,444 | |
Profit before tax | 22,149 | 21,199 | |
Loans and advances to customers (net) | 1,037,987 | 1,062,696 | 1,019,004 |
Customer accounts | 1,642,780 | 1,470,207 | 1,409,722 |
Operating segments excluding intersegment elimination | Wealth and Personal Banking | |||
Disclosure of operating segments [line items] | |||
Revenue and other operating income | 19,990 | 21,252 | 19,096 |
of which: net interest income/(expense) | 15,090 | 17,423 | 16,418 |
Operating segments excluding intersegment elimination | Commercial Banking | |||
Disclosure of operating segments [line items] | |||
Revenue and other operating income | 13,741 | 16,094 | 14,675 |
of which: net interest income/(expense) | 9,317 | 10,957 | 10,220 |
Operating segments excluding intersegment elimination | Global Banking and Markets | |||
Disclosure of operating segments [line items] | |||
Revenue and other operating income | 18,162 | 20,314 | 18,780 |
of which: net interest income/(expense) | 4,518 | 5,223 | 4,880 |
Operating segments excluding intersegment elimination | Corporate Centre | |||
Disclosure of operating segments [line items] | |||
Revenue and other operating income | (1,527) | (2,716) | (453) |
of which: net interest income/(expense) | (1,326) | (3,264) | (2,070) |
Operating segments | |||
Disclosure of operating segments [line items] | |||
Revenue and other operating income | 50,366 | 54,944 | 52,098 |
Change in expected credit losses and other credit impairment (charges)/recoveries | (8,817) | (2,627) | (1,620) |
Net operating income | 41,549 | 52,317 | 50,478 |
Total operating expenses | (31,459) | (32,519) | (31,723) |
Operating profit | 10,090 | 19,798 | 18,755 |
Share of profit in associates and joint ventures | 2,059 | 2,351 | 2,444 |
Profit before tax | $ 12,149 | $ 22,149 | $ 21,199 |
Share of HSBC’s adjusted profit before tax | 100.00% | 100.00% | 100.00% |
Adjusted cost efficiency ratio | 0.625 | 0.592 | 0.609 |
Loans and advances to customers (net) | $ 1,037,987 | $ 1,062,696 | $ 1,019,004 |
Interests in associates and joint ventures | 26,684 | 25,420 | 23,152 |
Total external assets | 2,984,164 | 2,783,811 | 2,651,453 |
Customer accounts | 1,642,780 | 1,470,207 | 1,409,722 |
Operating segments | Wealth and Personal Banking | |||
Disclosure of operating segments [line items] | |||
Revenue and other operating income | 22,013 | 25,565 | 23,551 |
Change in expected credit losses and other credit impairment (charges)/recoveries | (2,855) | (1,348) | (1,072) |
Net operating income | 19,158 | 24,217 | 22,479 |
Total operating expenses | (15,024) | (15,388) | (14,614) |
Operating profit | 4,134 | 8,829 | 7,865 |
Share of profit in associates and joint ventures | 6 | 54 | 32 |
Profit before tax | $ 4,140 | $ 8,883 | $ 7,897 |
Share of HSBC’s adjusted profit before tax | 34.10% | 40.10% | 37.30% |
Adjusted cost efficiency ratio | 0.683 | 0.602 | 0.621 |
Loans and advances to customers (net) | $ 469,186 | $ 455,618 | $ 419,231 |
Interests in associates and joint ventures | 447 | 449 | 399 |
Total external assets | 881,918 | 793,100 | 741,222 |
Customer accounts | 834,759 | 768,151 | 729,902 |
Operating segments | Commercial Banking | |||
Disclosure of operating segments [line items] | |||
Revenue and other operating income | 13,312 | 15,164 | 14,374 |
Change in expected credit losses and other credit impairment (charges)/recoveries | (4,754) | (1,162) | (683) |
Net operating income | 8,558 | 14,002 | 13,691 |
Total operating expenses | (6,689) | (6,832) | (6,307) |
Operating profit | 1,869 | 7,170 | 7,384 |
Share of profit in associates and joint ventures | (1) | 0 | 0 |
Profit before tax | $ 1,868 | $ 7,170 | $ 7,384 |
Share of HSBC’s adjusted profit before tax | 15.40% | 32.40% | 34.80% |
Adjusted cost efficiency ratio | 0.502 | 0.451 | 0.439 |
Loans and advances to customers (net) | $ 343,182 | $ 353,781 | $ 344,855 |
Interests in associates and joint ventures | 14 | 14 | 0 |
Total external assets | 570,295 | 523,585 | 520,403 |
Customer accounts | 470,428 | 397,182 | 372,551 |
Operating segments | Global Banking and Markets | |||
Disclosure of operating segments [line items] | |||
Revenue and other operating income | 15,303 | 14,869 | 15,056 |
Change in expected credit losses and other credit impairment (charges)/recoveries | (1,209) | (153) | 34 |
Net operating income | 14,094 | 14,716 | 15,090 |
Total operating expenses | (9,264) | (9,544) | (9,316) |
Operating profit | 4,830 | 5,172 | 5,774 |
Share of profit in associates and joint ventures | 0 | 0 | 0 |
Profit before tax | $ 4,830 | $ 5,172 | $ 5,774 |
Share of HSBC’s adjusted profit before tax | 39.70% | 23.40% | 27.20% |
Adjusted cost efficiency ratio | 0.605 | 0.642 | 0.619 |
Loans and advances to customers (net) | $ 224,364 | $ 252,131 | $ 253,319 |
Interests in associates and joint ventures | 143 | 16 | 0 |
Total external assets | 1,347,440 | 1,310,772 | 1,261,807 |
Customer accounts | 336,983 | 304,094 | 306,438 |
Operating segments | Corporate Centre | |||
Disclosure of operating segments [line items] | |||
Revenue and other operating income | (262) | (654) | (883) |
Change in expected credit losses and other credit impairment (charges)/recoveries | 1 | 36 | 101 |
Net operating income | (261) | (618) | (782) |
Total operating expenses | (482) | (755) | (1,486) |
Operating profit | (743) | (1,373) | (2,268) |
Share of profit in associates and joint ventures | 2,054 | 2,297 | 2,412 |
Profit before tax | $ 1,311 | $ 924 | $ 144 |
Share of HSBC’s adjusted profit before tax | 10.80% | 4.20% | 0.70% |
Adjusted cost efficiency ratio | (1.840) | (1.154) | (1.683) |
Loans and advances to customers (net) | $ 1,255 | $ 1,166 | $ 1,599 |
Interests in associates and joint ventures | 26,080 | 24,941 | 22,753 |
Total external assets | 184,511 | 156,354 | 128,021 |
Customer accounts | $ 610 | $ 780 | $ 831 |
Segmental analysis - Reported e
Segmental analysis - Reported external net operating income by country/territory (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of geographical areas [line items] | |||
Reported external net operating income by country/territory | $ 50,429 | $ 56,098 | $ 53,780 |
– UK | |||
Disclosure of geographical areas [line items] | |||
Reported external net operating income by country/territory | 9,163 | 9,011 | 10,340 |
– Hong Kong | |||
Disclosure of geographical areas [line items] | |||
Reported external net operating income by country/territory | 15,783 | 18,449 | 17,162 |
– US | |||
Disclosure of geographical areas [line items] | |||
Reported external net operating income by country/territory | 4,474 | 4,471 | 4,379 |
– France | |||
Disclosure of geographical areas [line items] | |||
Reported external net operating income by country/territory | 1,753 | 1,942 | 1,898 |
– other countries | |||
Disclosure of geographical areas [line items] | |||
Reported external net operating income by country/territory | $ 19,256 | $ 22,225 | $ 20,001 |
Segmental analysis - Adjusted r
Segmental analysis - Adjusted results reconciliation (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of operating segments [line items] | |||
Revenue | $ 50,429 | $ 56,098 | $ 53,780 |
Loan impairment charges and other credit risk provisions | (8,817) | (2,756) | (1,767) |
Operating expenses | (34,432) | (42,349) | (34,659) |
Share of profit in associates and joint ventures | 1,597 | 2,354 | 2,536 |
Profit before tax | 8,777 | 13,347 | 19,890 |
Significant items | |||
Disclosure of operating segments [line items] | |||
Revenue | 63 | 683 | (172) |
Loan impairment charges and other credit risk provisions | 0 | 0 | 0 |
Operating expenses | (2,973) | (9,607) | (1,656) |
Share of profit in associates and joint ventures | (462) | 0 | 0 |
Profit before tax | (3,372) | (8,924) | (1,828) |
Operating segments | |||
Disclosure of operating segments [line items] | |||
Revenue | 50,366 | 54,944 | 52,098 |
Loan impairment charges and other credit risk provisions | (8,817) | (2,627) | (1,620) |
Operating expenses | (31,459) | (32,519) | (31,723) |
Share of profit in associates and joint ventures | 2,059 | 2,351 | 2,444 |
Profit before tax | 12,149 | 22,149 | 21,199 |
Operating segments excluding intersegment elimination | |||
Disclosure of operating segments [line items] | |||
Revenue | 50,366 | 54,944 | 52,098 |
Loan impairment charges and other credit risk provisions | (2,627) | (1,620) | |
Operating expenses | (31,459) | (32,519) | (31,723) |
Share of profit in associates and joint ventures | 2,351 | 2,444 | |
Profit before tax | 22,149 | 21,199 | |
Corporate And Reconciling Items | |||
Disclosure of operating segments [line items] | |||
Revenue | 471 | 1,854 | |
Loan impairment charges and other credit risk provisions | (129) | (147) | |
Operating expenses | (223) | (1,280) | |
Share of profit in associates and joint ventures | 3 | 92 | |
Profit before tax | $ 122 | $ 519 |
Segmental analysis - Adjusted b
Segmental analysis - Adjusted balance sheet reconciliation (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of operating segments [line items] | |||
Loans and advances to customers (net) | $ 1,037,987 | $ 1,036,743 | $ 981,696 |
Interests in associates and joint ventures | 26,684 | 24,474 | 22,407 |
Total external assets | 2,984,164 | 2,715,152 | 2,558,124 |
Customer accounts | 1,642,780 | 1,439,115 | 1,362,643 |
Operating segments excluding intersegment elimination | |||
Disclosure of operating segments [line items] | |||
Loans and advances to customers (net) | 1,037,987 | 1,062,696 | 1,019,004 |
Customer accounts | $ 1,642,780 | 1,470,207 | 1,409,722 |
Corporate And Reconciling Items | |||
Disclosure of operating segments [line items] | |||
Loans and advances to customers (net) | (25,953) | (37,308) | |
Interests in associates and joint ventures | (946) | (745) | |
Total external assets | (68,659) | (93,329) | |
Customer accounts | $ (31,092) | $ (47,079) |
Segmental analysis - Adjusted_2
Segmental analysis - Adjusted profit reconciliation (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of operating segments [line items] | |||
Profit before tax | $ 8,777 | $ 13,347 | $ 19,890 |
– impairment of goodwill and other intangible assets | (41) | (7,349) | 0 |
– impairment of goodwill (share of profit in associates and joint ventures) | (462) | 0 | 0 |
Impairment loss recognised in profit or loss, goodwill | 41 | 7,349 | 0 |
Goodwill | The Saudi British Bank | |||
Disclosure of operating segments [line items] | |||
– impairment of goodwill and other intangible assets | 462 | ||
Impairment loss recognised in profit or loss, goodwill | (462) | ||
Computer software | |||
Disclosure of operating segments [line items] | |||
Impairment loss intangible assets | 1,347 | ||
Significant items | |||
Disclosure of operating segments [line items] | |||
Profit before tax | (3,372) | (8,924) | (1,828) |
– customer redress programmes (revenue) | (21) | (163) | 53 |
– disposals, acquisitions and investment in new businesses (revenue) | (10) | 768 | (113) |
– fair value movements on financial instruments | 264 | 84 | (100) |
– restructuring and other related costs (revenue) | (170) | 0 | 0 |
– costs of structural reform | 0 | (158) | (361) |
– customer redress programmes (operating expenses) | 54 | (1,281) | (146) |
– disposals, acquisitions and investment in new businesses (operating expenses) | 0 | 0 | (52) |
– impairment of goodwill and other intangible assets | (1,090) | (7,349) | 0 |
– past service costs of guaranteed minimum pension benefits equalisation | (17) | 0 | (228) |
– restructuring and other related costs (operating expenses) | (1,908) | (827) | (66) |
– settlements and provisions in connection with legal and other regulatory matters | (12) | 61 | (816) |
– currency translation on significant items | (59) | 1 | |
Impairment loss tangible assets | 197 | ||
Impairment loss recognised in profit or loss, goodwill | 1,090 | 7,349 | 0 |
Significant items | Computer software | |||
Disclosure of operating segments [line items] | |||
Impairment loss intangible assets | 189 | ||
Corporate And Reconciling Items | |||
Disclosure of operating segments [line items] | |||
Profit before tax | 122 | 519 | |
Operating segments excluding intersegment elimination | |||
Disclosure of operating segments [line items] | |||
Profit before tax | $ 22,149 | $ 21,199 |
Segmental analysis - Operating
Segmental analysis - Operating profit (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Operating Segments [Abstract] | |||
Interest recognised on financial assets measured at amortised cost | $ 35,293 | $ 45,708 | |
Interest recognised on financial assets measured at fair value through other comprehensive income | 5,614 | 8,259 | |
Interest on financial instruments, excluding interest on financial liabilities held for trading or designated or otherwise mandatorily measured at fair value | (12,426) | (21,922) | |
Loan impairment charges and other credit risk provisions | $ (8,817) | $ (2,756) | $ (1,767) |
Trading assets - Summary of tra
Trading assets - Summary of trading assets (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of financial assets [line items] | ||
Financial assets | $ 2,880,751 | $ 2,621,427 |
Financial assets | 2,880,751 | 2,621,427 |
Trading assets | ||
Disclosure of financial assets [line items] | ||
Financial assets | 231,990 | 254,271 |
Financial assets | 231,990 | 254,271 |
Trading securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 154,347 | 175,444 |
Financial assets | 154,347 | 175,444 |
Trading securities | Trading assets | ||
Disclosure of financial assets [line items] | ||
Financial assets | 204,524 | 226,659 |
Financial assets | 204,524 | 226,659 |
Treasury and other eligible bills | Trading assets | ||
Disclosure of financial assets [line items] | ||
Financial assets | 24,035 | 21,789 |
Financial assets | 24,035 | 21,789 |
Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 88,639 | 85,735 |
Financial assets | 88,639 | 85,735 |
Debt securities | Trading assets | ||
Disclosure of financial assets [line items] | ||
Financial assets | 102,846 | 126,043 |
Financial assets | 102,846 | 126,043 |
Equity securities | Trading assets | ||
Disclosure of financial assets [line items] | ||
Financial assets | 77,643 | 78,827 |
Financial assets | 77,643 | 78,827 |
Loans and advances to banks | ||
Disclosure of financial assets [line items] | ||
Financial assets | 81,616 | 69,203 |
Financial assets | 81,616 | 69,203 |
Loans and advances to banks | Trading assets | ||
Disclosure of financial assets [line items] | ||
Financial assets | 8,242 | 8,402 |
Financial assets | 8,242 | 8,402 |
Loans and advances to customers | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,037,987 | 1,036,743 |
Financial assets | 1,037,987 | 1,036,743 |
Loans and advances to customers | Trading assets | ||
Disclosure of financial assets [line items] | ||
Financial assets | 19,224 | 19,210 |
Financial assets | $ 19,224 | $ 19,210 |
Trading assets - Trading securi
Trading assets - Trading securities (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of financial assets [line items] | ||
Financial assets | $ 2,880,751 | $ 2,621,427 |
Trading assets | ||
Disclosure of financial assets [line items] | ||
Financial assets | 231,990 | 254,271 |
Trading securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 154,347 | 175,444 |
Trading securities | Trading assets | ||
Disclosure of financial assets [line items] | ||
Financial assets | 204,524 | 226,659 |
US Treasury and US Government agencies | Trading assets | ||
Disclosure of financial assets [line items] | ||
Financial assets | 17,393 | 25,722 |
UK Government | Trading assets | ||
Disclosure of financial assets [line items] | ||
Financial assets | 8,046 | 10,040 |
Hong Kong Government | Trading assets | ||
Disclosure of financial assets [line items] | ||
Financial assets | 6,500 | 9,783 |
Other governments | Trading assets | ||
Disclosure of financial assets [line items] | ||
Financial assets | 70,580 | 72,456 |
Asset-backed securities | Trading assets | ||
Disclosure of financial assets [line items] | ||
Financial assets | 4,253 | 4,691 |
Corporate debt and other securities | Trading assets | ||
Disclosure of financial assets [line items] | ||
Financial assets | 20,109 | 25,140 |
Equity securities | Trading assets | ||
Disclosure of financial assets [line items] | ||
Financial assets | 77,643 | 78,827 |
Debt securities issued by banks and other financial institutions | Trading assets | ||
Disclosure of financial assets [line items] | ||
Financial assets | 10,876 | 17,846 |
Debt securities issued by banks and other financial institutions, guaranteed by governments | Trading assets | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 1,298 | $ 2,637 |
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 | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | $ 2,880,751 | $ 2,621,427 | |
Financial liabilities | 2,655,014 | 2,409,361 | |
Trading liabilities | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 75,266 | 83,170 | |
Financial liabilities designated at fair value | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 157,439 | 164,466 | |
Trading assets | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 231,990 | 254,271 | |
Transfers from Level 1 to Level 2 | 3,891 | 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] | |||
Financial assets | 2,492 | 2,345 | |
Transfers from Level 1 to Level 2 | 245 | 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 | 402,054 | 357,577 | |
Transfers from Level 1 to Level 2 | 4,514 | 7,965 | |
Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 20,300 | 19,809 | |
Financial liabilities | 9,656 | 7,371 | |
Recurring fair value measurement | Trading liabilities | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 75,266 | 83,170 | |
Recurring fair value measurement | Trading liabilities | Level 1 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 53,290 | 66,925 | |
Recurring fair value measurement | Trading liabilities | Level 2 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 21,814 | 16,192 | |
Recurring fair value measurement | Trading liabilities | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 162 | 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 | 157,439 | 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 | 1,267 | 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 | 150,866 | 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 | 5,306 | 5,016 | 5,328 |
Recurring fair value measurement | Derivatives | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 303,001 | 239,497 | |
Recurring fair value measurement | Derivatives | Level 1 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 1,788 | 1,331 | |
Recurring fair value measurement | Derivatives | Level 2 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 297,025 | 235,864 | |
Recurring fair value measurement | Derivatives | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 4,188 | 2,302 | 1,756 |
Recurring fair value measurement | Trading assets | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 231,990 | 254,271 | |
Recurring fair value measurement | Trading assets | Level 1 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 167,980 | 186,653 | |
Recurring fair value measurement | Trading assets | Level 2 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 61,511 | 62,639 | |
Recurring fair value measurement | Trading assets | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 2,499 | 4,979 | 6,759 |
Transfers in | 1,215 | 456 | |
Recurring fair value measurement | Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 45,553 | 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 | 19,711 | 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 | 14,365 | 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 | 11,477 | 9,476 | 7,080 |
Transfers in | 126 | 40 | |
Recurring fair value measurement | Derivatives | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 307,726 | 242,995 | |
Recurring fair value measurement | Derivatives | Level 1 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 2,602 | 1,728 | |
Recurring fair value measurement | Derivatives | Level 2 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 302,454 | 239,131 | |
Recurring fair value measurement | Derivatives | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 2,670 | 2,136 | 2,423 |
Transfers in | 217 | 196 | |
Recurring fair value measurement | Financial investments | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 402,054 | 357,577 | |
Transfers from Level 1 to Level 2 | 15,100 | ||
Transfers in | 2,900 | ||
Recurring fair value measurement | Financial investments | Level 1 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 303,654 | 261,341 | |
Recurring fair value measurement | Financial investments | Level 2 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 94,746 | 93,018 | |
Recurring fair value measurement | Financial investments | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 3,654 | 3,218 | $ 2,796 |
Transfers in | $ 659 | $ 287 |
Fair values of financial inst_6
Fair values of financial instruments carried at fair value - Transfers between Level 1 and Level 2 fair values (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Trading liabilities | ||
Liabilities | ||
Transfers from Level 1 to Level 2 | $ 155 | $ 278 |
Transfers from Level 2 to Level 1 | 433 | 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 | 4,514 | 7,965 |
Transfers from Level 2 to Level 1 | 7,764 | 4,184 |
Trading assets | ||
Assets | ||
Transfers from Level 1 to Level 2 | 3,891 | 3,304 |
Transfers from Level 2 to Level 1 | 5,517 | 2,726 |
Designated and otherwise mandatorily measured at fair value | ||
Assets | ||
Transfers from Level 1 to Level 2 | 245 | 0 |
Transfers from Level 2 to Level 1 | 328 | 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 | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Global Banking and Markets | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | $ 1,348 | $ 1,261 |
Corporate Centre | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 28 | 50 |
Risk-related | Global Banking and Markets | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 1,170 | 1,118 |
Risk-related | Corporate Centre | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 28 | 47 |
– bid-offer | Global Banking and Markets | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 514 | 506 |
– bid-offer | Corporate Centre | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 0 | 1 |
– uncertainty | Global Banking and Markets | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 106 | 115 |
– uncertainty | Corporate Centre | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 1 | 1 |
– credit valuation adjustment | Global Banking and Markets | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 445 | 355 |
– credit valuation adjustment | Corporate Centre | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 27 | 38 |
– debt valuation adjustment | Global Banking and Markets | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | (120) | (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 | Global Banking and Markets | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 204 | 241 |
– funding fair value adjustment | Corporate Centre | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 0 | 7 |
– other | Global Banking and Markets | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 21 | 27 |
– other | Corporate Centre | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 0 | 0 |
Model-related | Global Banking and Markets | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 74 | 71 |
Model-related | Corporate Centre | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 0 | 3 |
– model limitation | Global Banking and Markets | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 70 | 68 |
– model limitation | Corporate Centre | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 0 | 3 |
– other | Global Banking and Markets | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 4 | 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) | Global Banking and Markets | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Fair value adjustments | 104 | 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 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | $ 2,880,751 | $ 2,621,427 | |
Financial liabilities | 2,655,014 | 2,409,361 | |
Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 20,300 | 19,809 | |
Financial liabilities | 9,656 | 7,371 | |
Change in FV due to refinement of levelling methodology | 2,900 | ||
Private equity including strategic investments | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 4 | 4 | |
Asset-backed securities | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 0 | 0 | |
Loans held for securitisation | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 0 | 0 | |
Structured notes | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 5,330 | 5,063 | |
Derivatives with monolines | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 0 | 0 | |
Other derivatives | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 4,187 | 2,302 | |
Other portfolios | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 135 | 2 | |
Trading liabilities | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 75,266 | 83,170 | |
Trading liabilities | Recurring fair value measurement | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 75,266 | 83,170 | |
Trading liabilities | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 162 | 53 | $ 58 |
Trading liabilities | Private equity including strategic investments | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 4 | 4 | |
Trading liabilities | Asset-backed securities | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 0 | 0 | |
Trading liabilities | Loans held for securitisation | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 0 | 0 | |
Trading liabilities | Structured notes | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 29 | 47 | |
Trading liabilities | Derivatives with monolines | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 0 | 0 | |
Trading liabilities | Other derivatives | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 0 | 0 | |
Trading liabilities | Other portfolios | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 129 | 2 | |
Financial liabilities designated at fair value | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 157,439 | 164,466 | |
Financial liabilities designated at fair value | Recurring fair value measurement | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 157,439 | 164,466 | |
Financial liabilities designated at fair value | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 5,306 | 5,016 | 5,328 |
Financial liabilities designated at fair value | Private equity including strategic investments | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 0 | 0 | |
Financial liabilities designated at fair value | Asset-backed securities | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 0 | 0 | |
Financial liabilities designated at fair value | Loans held for securitisation | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 0 | 0 | |
Financial liabilities designated at fair value | Structured notes | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 5,301 | 5,016 | |
Financial liabilities designated at fair value | Derivatives with monolines | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 0 | 0 | |
Financial liabilities designated at fair value | Other derivatives | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 0 | 0 | |
Financial liabilities designated at fair value | Other portfolios | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 5 | 0 | |
Derivatives | Recurring fair value measurement | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 303,001 | 239,497 | |
Derivatives | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 4,188 | 2,302 | 1,756 |
Derivatives | Private equity including strategic investments | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 0 | 0 | |
Derivatives | Asset-backed securities | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 0 | 0 | |
Derivatives | Loans held for securitisation | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 0 | 0 | |
Derivatives | Structured notes | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 0 | 0 | |
Derivatives | Derivatives with monolines | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 0 | 0 | |
Derivatives | Other derivatives | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 4,187 | 2,302 | |
Derivatives | Other portfolios | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 1 | 0 | |
Private equity including strategic investments | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 11,905 | 9,551 | |
Change in FV due to refinement of levelling methodology | 1,500 | ||
Asset-backed securities | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 1,834 | 1,836 | |
Loans held for securitisation | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 0 | 40 | |
Structured notes | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 0 | 3 | |
Derivatives with monolines | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 68 | 66 | |
Other derivatives | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 2,602 | 2,070 | |
Other portfolios | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 3,891 | 6,243 | |
Other portfolios | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 3,891 | ||
Change in FV due to refinement of levelling methodology | 1,400 | ||
Financial investments | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 402,054 | 357,577 | |
Change in FV due to refinement of levelling methodology | 59 | ||
Financial investments | Recurring fair value measurement | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 402,054 | 357,577 | |
Financial investments | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 3,654 | 3,218 | 2,796 |
Change in FV due to refinement of levelling methodology | 1,200 | ||
Financial investments | Private equity including strategic investments | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 930 | 716 | |
Financial investments | Asset-backed securities | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 1,286 | 874 | |
Financial investments | Loans held for securitisation | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 0 | 0 | |
Financial investments | Structured notes | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 0 | 0 | |
Financial investments | Derivatives with monolines | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 0 | 0 | |
Financial investments | Other derivatives | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 0 | 0 | |
Financial investments | Other portfolios | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 1,438 | 1,628 | |
Trading assets | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 231,990 | 254,271 | |
Trading assets | Recurring fair value measurement | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 231,990 | 254,271 | |
Trading assets | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 2,499 | 4,979 | 6,759 |
Trading assets | Private equity including strategic investments | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 4 | 4 | |
Trading assets | Asset-backed securities | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 4,253 | 4,691 | |
Trading assets | Asset-backed securities | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 523 | 934 | |
Trading assets | Loans held for securitisation | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 0 | 1 | |
Trading assets | Structured notes | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 0 | 3 | |
Trading assets | Derivatives with monolines | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 0 | 0 | |
Trading assets | Other derivatives | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 0 | 0 | |
Trading assets | Other portfolios | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 1,972 | 4,037 | |
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 2,492 | 2,345 | |
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Recurring fair value measurement | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 45,553 | 43,627 | |
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 11,477 | 9,476 | 7,080 |
Change in FV due to refinement of levelling methodology | 2,900 | ||
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] | |||
Change in FV due to refinement of levelling methodology | 86 | ||
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Private equity including strategic investments | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 10,971 | 8,831 | |
Change in FV due to refinement of levelling methodology | 1,700 | ||
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Asset-backed securities | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 0 | 0 | |
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Asset-backed securities | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 25 | 28 | |
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Loans held for securitisation | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 0 | 39 | |
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Structured notes | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 0 | 0 | |
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Derivatives with monolines | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 0 | 0 | |
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Other derivatives | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 0 | 0 | |
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Other portfolios | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 481 | 578 | |
Derivatives | Recurring fair value measurement | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 307,726 | 242,995 | |
Derivatives | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 2,670 | 2,136 | $ 2,423 |
Derivatives | Private equity including strategic investments | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 0 | 0 | |
Derivatives | Asset-backed securities | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 0 | 0 | |
Derivatives | Loans held for securitisation | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 0 | 0 | |
Derivatives | Structured notes | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 0 | 0 | |
Derivatives | Derivatives with monolines | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 68 | 66 | |
Derivatives | Other derivatives | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 2,602 | 2,070 | |
Derivatives | Other portfolios | Recurring fair value measurement | Level 3 | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | $ 0 | $ 0 |
Fair values of financial inst_9
Fair values of financial instruments carried at fair value - Movement in Level 3 financial instruments (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Reconciliation of changes in fair value measurement, assets [abstract] | |||
Financial assets, beginning balance | $ 2,621,427 | ||
– financial investments: fair value gains | 2,947 | $ 1,793 | $ (168) |
Financial assets, ending balance | 2,880,751 | 2,621,427 | |
Reconciliation of changes in fair value measurement, liabilities [abstract] | |||
Financial liabilities, beginning balance | 2,409,361 | ||
– fair value gains/(losses) | 2,947 | 1,793 | (168) |
– cash flow hedges: fair value gains/(losses) | (157) | 551 | (267) |
Financial liabilities, ending balance | 2,655,014 | 2,409,361 | |
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 | 20,300 | 19,809 | |
Reconciliation of changes in fair value measurement, liabilities [abstract] | |||
Financial liabilities, beginning balance | 7,371 | ||
Financial liabilities, ending balance | 9,656 | 7,371 | |
Change in FV due to refinement of levelling methodology | 2,900 | ||
Level 3 | Recurring fair value measurement | Private equity including strategic investments | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
Financial assets, beginning balance | 9,551 | ||
Financial assets, ending balance | 11,905 | 9,551 | |
Reconciliation of changes in fair value measurement, liabilities [abstract] | |||
Change in FV due to refinement of levelling methodology | 1,500 | ||
Trading liabilities | |||
Reconciliation of changes in fair value measurement, liabilities [abstract] | |||
Financial liabilities, beginning balance | 83,170 | ||
Financial liabilities, ending balance | 75,266 | 83,170 | |
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 | 75,266 | 83,170 | |
Trading liabilities | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
– financial investments: fair value gains | 0 | 0 | |
– exchange differences | 17 | 1 | |
Reconciliation of changes in fair value measurement, liabilities [abstract] | |||
Financial liabilities, beginning balance | 53 | 58 | |
Total gains/(losses) recognised in profit or loss | 307 | (4) | |
Total gains recognised in other comprehensive income (‘OCI’) | 17 | 1 | |
– fair value gains/(losses) | 0 | 0 | |
– exchange differences | 17 | 1 | |
Purchases | 66 | 8 | |
New issuances | 6 | 6 | |
Sales | (260) | (9) | |
Settlements | (26) | (7) | |
Transfers out | (9) | (9) | |
Transfers in | 8 | 9 | |
Financial liabilities, ending balance | 162 | 53 | 58 |
Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at 31 Dec 2019 | 1 | 0 | |
Financial liabilities designated at fair value | |||
Reconciliation of changes in fair value measurement, liabilities [abstract] | |||
Financial liabilities, beginning balance | 164,466 | ||
Financial liabilities, ending balance | 157,439 | 164,466 | |
Financial liabilities 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 | 157,439 | 164,466 | |
Financial liabilities designated at fair value | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
– financial investments: fair value gains | 0 | 0 | |
– exchange differences | 204 | 18 | |
Reconciliation of changes in fair value measurement, liabilities [abstract] | |||
Financial liabilities, beginning balance | 5,016 | 5,328 | |
Total gains/(losses) recognised in profit or loss | (59) | 195 | |
Total gains recognised in other comprehensive income (‘OCI’) | 204 | 18 | |
– fair value gains/(losses) | 0 | 0 | |
– exchange differences | 204 | 18 | |
Purchases | 0 | 157 | |
New issuances | 1,876 | 1,601 | |
Sales | 0 | (193) | |
Settlements | (1,531) | (1,048) | |
Transfers out | (777) | (1,079) | |
Transfers in | 577 | 37 | |
Financial liabilities, ending balance | 5,306 | 5,016 | 5,328 |
Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at 31 Dec 2019 | (91) | 57 | |
Derivatives | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, liabilities [abstract] | |||
Financial liabilities, beginning balance | 239,497 | ||
Financial liabilities, ending balance | 303,001 | 239,497 | |
Derivatives | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
– financial investments: fair value gains | 0 | 0 | |
– exchange differences | 169 | 52 | |
Reconciliation of changes in fair value measurement, liabilities [abstract] | |||
Financial liabilities, beginning balance | 2,302 | 1,756 | |
Total gains/(losses) recognised in profit or loss | 3,398 | 930 | |
Total gains recognised in other comprehensive income (‘OCI’) | 169 | 52 | |
– fair value gains/(losses) | 0 | 0 | |
– exchange differences | 169 | 52 | |
Purchases | 0 | 0 | |
New issuances | 0 | 0 | |
Sales | 0 | 0 | |
Settlements | (1,462) | (162) | |
Transfers out | (528) | (473) | |
Transfers in | 309 | 199 | |
Financial liabilities, ending balance | 4,188 | 2,302 | 1,756 |
Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at 31 Dec 2019 | (1,621) | (407) | |
Financial investments | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
Financial assets, beginning balance | 357,577 | ||
Financial assets, ending balance | 402,054 | 357,577 | |
Reconciliation of changes in fair value measurement, liabilities [abstract] | |||
Change in FV due to refinement of levelling methodology | 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 | 402,054 | 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 | 2,796 | |
Total gains/(losses) recognised in profit or loss | 17 | 6 | |
Total gains recognised in other comprehensive income (‘OCI’) | 394 | 309 | |
– financial investments: fair value gains | 270 | 301 | |
– exchange differences | 124 | 8 | |
Purchases | 671 | 693 | |
New issuances | 0 | 0 | |
Sales | (674) | (56) | |
Settlements | (530) | (329) | |
Transfers out | (101) | (488) | |
Transfers in | 659 | 287 | |
Financial assets, ending balance | 3,654 | 3,218 | 2,796 |
Unrealised gains or losses recognised in profit or loss for assets and liabilities held at end of period | 0 | (4) | |
Reconciliation of changes in fair value measurement, liabilities [abstract] | |||
– fair value gains/(losses) | 270 | 301 | |
– exchange differences | 124 | 8 | |
Change in FV due to refinement of levelling methodology | 1,200 | ||
Financial investments | Level 3 | Recurring fair value measurement | Private equity including strategic investments | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
Financial assets, beginning balance | 716 | ||
Financial assets, ending balance | 930 | 716 | |
Trading assets | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
Financial assets, beginning balance | 254,271 | ||
Financial assets, ending balance | 231,990 | 254,271 | |
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 | 231,990 | 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 | 6,759 | |
Total gains/(losses) recognised in profit or loss | (6) | (112) | |
Total gains recognised in other comprehensive income (‘OCI’) | 115 | 76 | |
– financial investments: fair value gains | 0 | 0 | |
– exchange differences | 115 | 76 | |
Purchases | 687 | 2,206 | |
New issuances | 0 | 154 | |
Sales | (1,579) | (895) | |
Settlements | (1,122) | (2,107) | |
Transfers out | (1,790) | (1,558) | |
Transfers in | 1,215 | 456 | |
Financial assets, ending balance | 2,499 | 4,979 | 6,759 |
Unrealised gains or losses recognised in profit or loss for assets and liabilities held at end of period | (32) | (22) | |
Reconciliation of changes in fair value measurement, liabilities [abstract] | |||
– fair value gains/(losses) | 0 | 0 | |
– exchange differences | 115 | 76 | |
Trading assets | Level 3 | Recurring fair value measurement | Private equity including strategic investments | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
Financial assets, beginning balance | 4 | ||
Financial assets, ending balance | 4 | 4 | |
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
Financial assets, beginning balance | 2,345 | ||
Financial assets, ending balance | 2,492 | 2,345 | |
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
Financial assets, beginning balance | 43,627 | ||
Financial assets, ending balance | 45,553 | 43,627 | |
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
Financial assets, beginning balance | 9,476 | 7,080 | |
Total gains/(losses) recognised in profit or loss | 504 | 587 | |
Total gains recognised in other comprehensive income (‘OCI’) | 286 | (4) | |
– financial investments: fair value gains | 0 | 0 | |
– exchange differences | 286 | (4) | |
Purchases | 3,701 | 2,506 | |
New issuances | 1 | 0 | |
Sales | (2,042) | (276) | |
Settlements | (435) | (434) | |
Transfers out | (140) | (23) | |
Transfers in | 126 | 40 | |
Financial assets, ending balance | 11,477 | 9,476 | 7,080 |
Unrealised gains or losses recognised in profit or loss for assets and liabilities held at end of period | 412 | 465 | |
Reconciliation of changes in fair value measurement, liabilities [abstract] | |||
– fair value gains/(losses) | 0 | 0 | |
– exchange differences | 286 | (4) | |
Change in FV due to refinement of levelling methodology | 2,900 | ||
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Level 3 | Recurring fair value measurement | Private equity including strategic investments | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
Financial assets, beginning balance | 8,831 | ||
Financial assets, ending balance | 10,971 | 8,831 | |
Reconciliation of changes in fair value measurement, liabilities [abstract] | |||
Change in FV due to refinement of levelling methodology | 1,700 | ||
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Financial liabilities designated at fair value | |||
Reconciliation of changes in fair value measurement, liabilities [abstract] | |||
Change in FV due to refinement of levelling methodology | 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 | 307,726 | 242,995 | |
Derivatives | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
Financial assets, beginning balance | 2,136 | 2,423 | |
Total gains/(losses) recognised in profit or loss | 2,281 | 278 | |
Total gains recognised in other comprehensive income (‘OCI’) | 143 | 49 | |
– financial investments: fair value gains | 0 | 0 | |
– exchange differences | 143 | 49 | |
Purchases | 0 | 0 | |
New issuances | 0 | 0 | |
Sales | 0 | 0 | |
Settlements | (1,542) | (100) | |
Transfers out | (565) | (710) | |
Transfers in | 217 | 196 | |
Financial assets, ending balance | 2,670 | 2,136 | $ 2,423 |
Unrealised gains or losses recognised in profit or loss for assets and liabilities held at end of period | 707 | 279 | |
Reconciliation of changes in fair value measurement, liabilities [abstract] | |||
– fair value gains/(losses) | 0 | 0 | |
– exchange differences | 143 | 49 | |
Derivatives | Level 3 | Recurring fair value measurement | Private equity including strategic investments | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
Financial assets, beginning balance | 0 | ||
Financial assets, ending balance | 0 | 0 | |
– net income/(losses) from financial instruments held for trading or managed on a fair value basis | Trading liabilities | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, liabilities [abstract] | |||
Total gains/(losses) recognised in profit or loss | 307 | (4) | |
Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at 31 Dec 2019 | 1 | 0 | |
– net income/(losses) from financial instruments held for trading or managed on a fair value basis | Financial liabilities designated at fair value | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, liabilities [abstract] | |||
Total gains/(losses) recognised in profit or loss | 0 | 0 | |
Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at 31 Dec 2019 | 0 | 0 | |
– net income/(losses) from financial instruments held for trading or managed on a fair value basis | Derivatives | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, liabilities [abstract] | |||
Total gains/(losses) recognised in profit or loss | 3,398 | 930 | |
Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at 31 Dec 2019 | (1,621) | (407) | |
– net income/(losses) from financial instruments held for trading or managed on a fair value basis | Financial investments | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
Total gains/(losses) recognised in profit or loss | 0 | 0 | |
Unrealised gains or losses recognised in profit or loss for assets and liabilities held at end of period | 0 | 0 | |
– net income/(losses) from financial instruments held for trading or managed on a fair value basis | Trading assets | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
Total gains/(losses) recognised in profit or loss | (6) | (112) | |
Unrealised gains or losses recognised in profit or loss for assets and liabilities held at end of period | (32) | (22) | |
– net income/(losses) from financial instruments held for trading or managed on a fair value basis | Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
Total gains/(losses) recognised in profit or loss | 0 | 0 | |
Unrealised gains or losses recognised in profit or loss for assets and liabilities held at end of period | 0 | 0 | |
– net income/(losses) from financial instruments held for trading or managed on a fair value basis | Derivatives | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
Total gains/(losses) recognised in profit or loss | 2,281 | 278 | |
Unrealised gains or losses recognised in profit or loss for assets and liabilities held at end of period | 707 | 279 | |
– changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss | Trading liabilities | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, liabilities [abstract] | |||
Total gains/(losses) recognised in profit or loss | 0 | 0 | |
Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at 31 Dec 2019 | 0 | 0 | |
– changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss | Financial liabilities designated at fair value | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, liabilities [abstract] | |||
Total gains/(losses) recognised in profit or loss | (59) | 195 | |
Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at 31 Dec 2019 | (91) | 57 | |
– changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss | Derivatives | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, liabilities [abstract] | |||
Total gains/(losses) recognised in profit or loss | 0 | 0 | |
Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at 31 Dec 2019 | 0 | 0 | |
– changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss | Financial investments | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
Total gains/(losses) recognised in profit or loss | 0 | 0 | |
Unrealised gains or losses recognised in profit or loss for assets and liabilities held at end of period | 0 | 0 | |
– changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss | Trading assets | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
Total gains/(losses) recognised in profit or loss | 0 | 0 | |
Unrealised gains or losses recognised in profit or loss for assets and liabilities held at end of period | 0 | 0 | |
– changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss | Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
Total gains/(losses) recognised in profit or loss | 504 | 587 | |
Unrealised gains or losses recognised in profit or loss for assets and liabilities held at end of period | 412 | 465 | |
– changes in fair value of other financial instruments mandatorily measured at fair value through profit or loss | Derivatives | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
Total gains/(losses) recognised in profit or loss | 0 | 0 | |
Unrealised gains or losses recognised in profit or loss for assets and liabilities held at end of period | 0 | 0 | |
– gains less losses from financial investments at fair value through other comprehensive income | Trading liabilities | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, liabilities [abstract] | |||
Total gains/(losses) recognised in profit or loss | 0 | 0 | |
– gains less losses from financial investments at fair value through other comprehensive income | Financial liabilities designated at fair value | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, liabilities [abstract] | |||
Total gains/(losses) recognised in profit or loss | 0 | 0 | |
– gains less losses from financial investments at fair value through other comprehensive income | Derivatives | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, liabilities [abstract] | |||
Total gains/(losses) recognised in profit or loss | 0 | 0 | |
– gains less losses from financial investments at fair value through other comprehensive income | Financial investments | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
Total gains/(losses) recognised in profit or loss | 17 | 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 | Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
Total gains/(losses) recognised in profit or loss | 0 | 0 | |
– gains less losses from financial investments at fair value through other comprehensive income | Derivatives | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
Total gains/(losses) recognised in profit or loss | 0 | 0 | |
– expected credit loss charges and other credit risk charges | Trading liabilities | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, liabilities [abstract] | |||
Total gains/(losses) recognised in profit or loss | 0 | 0 | |
– expected credit loss charges and other credit risk charges | Financial liabilities designated at fair value | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, liabilities [abstract] | |||
Total gains/(losses) recognised in profit or loss | 0 | 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 | 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 | 0 | (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 | 0 | |
– expected credit loss charges and other credit risk charges | Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
Total gains/(losses) recognised in profit or loss | 0 | 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 | 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 assets and liabilities held at 31 Dec 2019 | 0 | 0 | |
– loan impairment recoveries and other credit risk provisions | Financial liabilities designated at fair value | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, liabilities [abstract] | |||
Unrealised gains/(losses) recognised in profit or loss relating to assets and liabilities held at 31 Dec 2019 | 0 | 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 assets and liabilities held at 31 Dec 2019 | 0 | 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 or losses recognised in profit or loss for assets and liabilities held at end of period | 0 | (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 or losses recognised in profit or loss for assets and liabilities held at end of period | 0 | 0 | |
– loan impairment recoveries and other credit risk provisions | Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Level 3 | Recurring fair value measurement | |||
Reconciliation of changes in fair value measurement, assets [abstract] | |||
Unrealised gains or losses recognised in profit or loss for assets and liabilities held at end of period | 0 | 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 or losses recognised in profit or loss for assets and liabilities held at end of period | $ 0 | $ 0 |
Fair values of financial ins_10
Fair values of financial instruments carried at fair value - Sensitivity of Level 3 fair values to reasonably possible alternative assumptions (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Favourable changes reflected in profit or loss | $ 908 | $ 921 |
Unfavourable changes reflected in profit or loss | (922) | (786) |
Favourable changes reflected in OCI | 110 | 81 |
Un-favourable changes reflected in OCI | $ (110) | (81) |
Confidence level corresponding to results of technique other than confidence level technique used for determining risk adjustment for non-financial risk | 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 | $ 229 | 255 |
Unfavourable changes reflected in profit or loss | (244) | (230) |
Favourable changes reflected in OCI | 0 | 0 |
Un-favourable changes reflected in OCI | 0 | 0 |
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Financial liabilities designated at fair value | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Favourable changes reflected in profit or loss | 644 | 618 |
Unfavourable changes reflected in profit or loss | (643) | (503) |
Favourable changes reflected in OCI | 0 | 0 |
Un-favourable changes reflected in OCI | 0 | 0 |
Change in FV due to refinement of levelling methodology | 86 | |
Financial investments | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Favourable changes reflected in profit or loss | 35 | 48 |
Unfavourable changes reflected in profit or loss | (35) | (53) |
Favourable changes reflected in OCI | 110 | 81 |
Un-favourable changes reflected in OCI | $ (110) | (81) |
Change in FV due to refinement 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) $ in Millions | Dec. 31, 2020USD ($)quote | Dec. 31, 2019USD ($)quote |
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | $ 2,880,751 | $ 2,621,427 |
Financial liabilities | 2,655,014 | 2,409,361 |
Level 3 | Recurring fair value measurement | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 20,300 | 19,809 |
Financial liabilities | 9,656 | 7,371 |
Level 3 | Recurring fair value measurement | Private equity including strategic investments | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 4 | |
Level 3 | Recurring fair value measurement | Structured notes | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 5,330 | 5,063 |
Level 3 | Recurring fair value measurement | – equity-linked notes | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 4,069 | |
Level 3 | Recurring fair value measurement | – FX-linked notes | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 608 | |
Level 3 | Recurring fair value measurement | – other | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 653 | |
Level 3 | Recurring fair value measurement | Other derivatives | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 4,187 | 2,302 |
Level 3 | Recurring fair value measurement | Other portfolios | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 135 | 2 |
Level 3 | Recurring fair value measurement | – repurchase agreements | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 128 | |
Level 3 | Recurring fair value measurement | - other | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 7 | |
Level 3 | Recurring fair value measurement | Private equity including strategic investments | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 11,905 | 9,551 |
Level 3 | Recurring fair value measurement | Asset-backed securities | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 1,834 | 1,836 |
Level 3 | Recurring fair value measurement | – collateralised loan/debt obligation | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 59 | |
Level 3 | Recurring fair value measurement | – other ABSs | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 1,775 | |
Level 3 | Recurring fair value measurement | Derivatives with monolines | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 68 | $ 66 |
Level 3 | Recurring fair value measurement | Other derivatives | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 2,602 | |
Level 3 | Recurring fair value measurement | Other portfolios | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 3,891 | |
Level 3 | Recurring fair value measurement | – repurchase agreements | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 872 | |
Level 3 | Recurring fair value measurement | - other | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 3,019 | |
Level 3 | Recurring fair value measurement | Interest rate | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 1,300 | |
Financial liabilities | 1,414 | |
Level 3 | Recurring fair value measurement | Interest rate | securitisation swaps | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 707 | |
Level 3 | Recurring fair value measurement | Interest rate | long-dated swaptions | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 370 | |
Level 3 | Recurring fair value measurement | Interest rate | other | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 337 | |
Level 3 | Recurring fair value measurement | Interest rate | securitisation swaps | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 285 | |
Level 3 | Recurring fair value measurement | Interest rate | long-dated swaptions | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 529 | |
Level 3 | Recurring fair value measurement | Interest rate | other | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 486 | |
Level 3 | Recurring fair value measurement | Foreign exchange | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 468 | |
Financial liabilities | 466 | |
Level 3 | Recurring fair value measurement | Foreign exchange | other | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 272 | |
Level 3 | Recurring fair value measurement | Foreign exchange | FX options | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 194 | |
Level 3 | Recurring fair value measurement | Foreign exchange | FX options | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 152 | |
Level 3 | Recurring fair value measurement | Foreign exchange | other | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 316 | |
Level 3 | Recurring fair value measurement | Equities | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 754 | |
Financial liabilities | 2,244 | |
Level 3 | Recurring fair value measurement | Equities | other | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 1,153 | |
Level 3 | Recurring fair value measurement | Equities | long-dated single stock options | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 1,091 | |
Level 3 | Recurring fair value measurement | Equities | other | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 171 | |
Level 3 | Recurring fair value measurement | Equities | long-dated single stock options | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 583 | |
Level 3 | Recurring fair value measurement | Credit | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 80 | |
Financial liabilities | 63 | |
Level 3 | Recurring fair value measurement | Credit | other | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 63 | |
Level 3 | Recurring fair value measurement | Credit | other | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | $ 80 | |
Constant prepayment rate, measurement input | Bottom of range | Recurring fair value measurement | Interest rate | securitisation swaps | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, liabilities, percentage | 0.06 | 0.06 |
Constant prepayment rate, measurement input | Top of range | Recurring fair value measurement | Interest rate | securitisation swaps | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, liabilities, percentage | 0.06 | 0.07 |
Constant prepayment rate, measurement input | Market proxy | Bottom of range | Recurring fair value measurement | – collateralised loan/debt obligation | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, assets, percentage | 0 | 0 |
Constant prepayment rate, measurement input | Market proxy | Top of range | Recurring fair value measurement | – collateralised loan/debt obligation | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, assets, percentage | 0.09 | 0.09 |
Constant prepayment rate, measurement input | Model – Discounted cash flow | Bottom of range | Recurring fair value measurement | Interest rate | securitisation swaps | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, assets, percentage | 0.06 | 0.06 |
Constant prepayment rate, measurement input | Model – Discounted cash flow | Top of range | Recurring fair value measurement | Interest rate | securitisation swaps | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, assets, percentage | 0.06 | 0.07 |
Bid quotes, measurement input | Market proxy | Bottom of range | Recurring fair value measurement | – collateralised loan/debt obligation | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, assets, percentage | quote | 0 | 0 |
Bid quotes, measurement input | Market proxy | Bottom of range | Recurring fair value measurement | – other ABSs | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, assets, percentage | quote | 0 | 0 |
Bid quotes, measurement input | Market proxy | Top of range | Recurring fair value measurement | – collateralised loan/debt obligation | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, assets, percentage | quote | 100 | 100 |
Bid quotes, measurement input | Market proxy | Top of range | Recurring fair value measurement | – other ABSs | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, assets, percentage | quote | 101 | 101 |
Historical volatility for shares, measurement input | Bottom of range | Recurring fair value measurement | Equities | long-dated single stock options | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, liabilities, percentage | 0 | 0 |
Historical volatility for shares, measurement input | Top of range | Recurring fair value measurement | Equities | long-dated single stock options | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, liabilities, percentage | 1.20 | 0.89 |
Historical volatility for shares, measurement input | Model – Option model | Bottom of range | Recurring fair value measurement | – equity-linked notes | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, liabilities, percentage | 0.06 | 0.05 |
Historical volatility for shares, measurement input | Model – Option model | Bottom of range | Recurring fair value measurement | Equities | long-dated single stock options | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, assets, percentage | 0 | 0 |
Historical volatility for shares, measurement input | Model – Option model | Top of range | Recurring fair value measurement | – equity-linked notes | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, liabilities, percentage | 1.15 | 0.90 |
Historical volatility for shares, measurement input | Model – Option model | Top of range | Recurring fair value measurement | Equities | long-dated single stock options | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, assets, percentage | 1.20 | 0.89 |
Equity correlation, measurement input | Model – Option model | Bottom of range | Recurring fair value measurement | – equity-linked notes | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, liabilities, percentage | (0.04) | 0.09 |
Equity correlation, measurement input | Model – Option model | Top of range | Recurring fair value measurement | – equity-linked notes | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, liabilities, percentage | 0.88 | 0.93 |
Foreign exchange volatility, measurement input | Bottom of range | Recurring fair value measurement | Foreign exchange | FX options | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, liabilities, percentage | 0 | 0.01 |
Foreign exchange volatility, measurement input | Top of range | Recurring fair value measurement | Foreign exchange | FX options | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, liabilities, percentage | 0.43 | 0.25 |
Foreign exchange volatility, measurement input | Model – Option model | Bottom of range | Recurring fair value measurement | – FX-linked notes | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, liabilities, percentage | 0 | 0.01 |
Foreign exchange volatility, measurement input | Model – Option model | Bottom of range | Recurring fair value measurement | Foreign exchange | FX options | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, assets, percentage | 0 | 0.01 |
Foreign exchange volatility, measurement input | Model – Option model | Top of range | Recurring fair value measurement | – FX-linked notes | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, liabilities, percentage | 0.36 | 0.23 |
Foreign exchange volatility, measurement input | Model – Option model | Top of range | Recurring fair value measurement | Foreign exchange | FX options | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, assets, percentage | 0.43 | 0.25 |
Credit spread, measurement input | Model – Discounted cash flow | Bottom of range | Recurring fair value measurement | Derivatives with monolines | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, assets, percentage | 0.02 | 0 |
Credit spread, measurement input | Model – Discounted cash flow | Top of range | Recurring fair value measurement | Derivatives with monolines | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, assets, percentage | 0.02 | 0.02 |
Interest rate, measurement input | Bottom of range | Recurring fair value measurement | Interest rate | long-dated swaptions | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, liabilities, percentage | 0.06 | 0.08 |
Interest rate, measurement input | Top of range | Recurring fair value measurement | Interest rate | long-dated swaptions | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, liabilities, percentage | 0.28 | 0.22 |
Interest rate, measurement input | Model – Option model | Bottom of range | Recurring fair value measurement | Interest rate | long-dated swaptions | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, assets, percentage | 0.06 | 0.08 |
Interest rate, measurement input | Model – Option model | Top of range | Recurring fair value measurement | Interest rate | long-dated swaptions | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, assets, percentage | 0.28 | 0.22 |
Interest rate, measurement input | Model – Discounted cash flow | Bottom of range | Recurring fair value measurement | – repurchase agreements | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, assets, percentage | 0 | 0.01 |
Interest rate, measurement input | Model – Discounted cash flow | Top of range | Recurring fair value measurement | – repurchase agreements | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, assets, percentage | 0.05 | 0.08 |
Credit volatility, measurement input | Model – Discounted cash flow | Bottom of range | Recurring fair value measurement | – structured certificates | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, assets, percentage | 0 | 0.04 |
Credit volatility, measurement input | Model – Discounted cash flow | Top of range | Recurring fair value measurement | – structured certificates | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Significant unobservable input, assets, percentage | 0 | 0.04 |
Fair values of financial ins_12
Fair values of financial instruments carried at fair value - Basis of valuing HSBC Holding's financial assets and liabilities measured at fair value (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | $ 2,880,751 | $ 2,621,427 |
Financial liabilities | 2,655,014 | 2,409,361 |
Financial liabilities designated at fair value | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 157,439 | 164,466 |
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 2,492 | 2,345 |
HSBC Holdings | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 102,237 | 93,215 |
Financial liabilities | 115,864 | 109,870 |
HSBC Holdings | Financial liabilities designated at fair value | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 25,664 | 30,303 |
HSBC Holdings | Financial liabilities designated at fair value | Level 2 | Designated at fair value | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 25,664 | 30,303 |
HSBC Holdings | Derivatives | Level 2 | Designated at fair value | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 3,060 | 2,021 |
HSBC Holdings | Derivatives | Level 2 | Designated at fair value | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 4,698 | 2,002 |
HSBC Holdings | Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Level 2 | Designated at fair value | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | $ 65,253 | $ 61,964 |
Fair values of financial ins_13
Fair values of financial instruments not carried at fair value - Fair value of financial instruments not carried at fair value and bases of valuation (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | $ 2,880,751 | $ 2,621,427 |
Financial liabilities | 2,655,014 | 2,409,361 |
Deposits by banks | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 82,080 | 59,022 |
Customer accounts | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 1,642,780 | 1,439,115 |
Repurchase agreements – non-trading | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 111,901 | 140,344 |
Financial investments – at amortised cost | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 218,108 | 236,323 |
Subordinated liabilities | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 32,795 | 35,149 |
Loans and advances to banks | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 81,616 | 69,203 |
Loans and advances to customers | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 1,037,987 | 1,036,743 |
Repurchase agreements – non-trading | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 230,628 | 240,862 |
Financial investments – at amortised cost | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 88,639 | 85,735 |
Fair value | Deposits by banks | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 81,996 | 58,951 |
Fair value | Customer accounts | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 1,643,131 | 1,439,512 |
Fair value | Repurchase agreements – non-trading | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 111,901 | 140,344 |
Fair value | Loans and advances to banks | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 81,796 | 69,247 |
Fair value | Loans and advances to customers | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 1,035,461 | 1,037,543 |
Fair value | Repurchase agreements – non-trading | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 230,602 | 240,906 |
Fair value | Financial investments – at amortised cost | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 96,801 | 89,061 |
Fair value | Level 1 | Deposits by banks | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 0 | 0 |
Fair value | Level 1 | Customer accounts | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 0 | 0 |
Fair value | Level 1 | Repurchase agreements – non-trading | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 3 | 0 |
Fair value | Level 1 | Loans and advances to banks | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 0 | 0 |
Fair value | Level 1 | Loans and advances to customers | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 0 | 0 |
Fair value | Level 1 | Repurchase agreements – non-trading | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 0 | 16 |
Fair value | Level 1 | Financial investments – at amortised cost | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 28,722 | 26,202 |
Fair value | Level 2 | Deposits by banks | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 81,996 | 58,951 |
Fair value | Level 2 | Customer accounts | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 1,642,988 | 1,439,362 |
Fair value | Level 2 | Repurchase agreements – non-trading | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 111,898 | 140,344 |
Fair value | Level 2 | Loans and advances to banks | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 80,457 | 68,508 |
Fair value | Level 2 | Loans and advances to customers | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 9,888 | 10,365 |
Fair value | Level 2 | Repurchase agreements – non-trading | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 230,330 | 240,199 |
Fair value | Level 2 | Financial investments – at amortised cost | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 67,572 | 62,572 |
Fair value | Level 3 | Deposits by banks | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 0 | 0 |
Fair value | Level 3 | Customer accounts | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 143 | 150 |
Fair value | Level 3 | Repurchase agreements – non-trading | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 0 | 0 |
Fair value | Level 3 | Loans and advances to banks | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 1,339 | 739 |
Fair value | Level 3 | Loans and advances to customers | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 1,025,573 | 1,027,178 |
Fair value | Level 3 | Repurchase agreements – non-trading | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 272 | 691 |
Fair value | Level 3 | Financial investments – at amortised cost | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 507 | 287 |
At cost | Financial investments – at amortised cost | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 95,492 | 104,555 |
At cost | Subordinated liabilities | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 21,951 | 24,600 |
At cost | Fair value | Financial investments – at amortised cost | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 97,028 | 104,936 |
At cost | Fair value | Subordinated liabilities | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 28,552 | 29,246 |
At cost | Fair value | Level 1 | Financial investments – at amortised cost | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 0 | 0 |
At cost | Fair value | Level 1 | Subordinated liabilities | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 0 | 0 |
At cost | Fair value | Level 2 | Financial investments – at amortised cost | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 96,371 | 104,936 |
At cost | Fair value | Level 2 | Subordinated liabilities | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 28,552 | 28,861 |
At cost | Fair value | Level 3 | Financial investments – at amortised cost | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 657 | 0 |
At cost | Fair value | Level 3 | Subordinated liabilities | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | $ 0 | $ 385 |
Fair values of financial ins_14
Fair values of financial instruments not carried at fair value - Fair values of HSBC Holdings' financial instruments not carried at fair value on the balance sheet (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | $ 2,880,751 | $ 2,621,427 |
Financial liabilities | 2,655,014 | 2,409,361 |
Amounts owed to HSBC undertakings | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 82,080 | 59,022 |
Financial investments – at amortised cost | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 218,108 | 236,323 |
Loans and advances to banks | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 81,616 | 69,203 |
Financial investments – at amortised cost | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 88,639 | 85,735 |
Fair value | Amounts owed to HSBC undertakings | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 81,996 | 58,951 |
Fair value | Loans and advances to banks | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 81,796 | 69,247 |
Fair value | Financial investments – at amortised cost | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 96,801 | 89,061 |
HSBC Holdings | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 102,237 | 93,215 |
Financial liabilities | 115,864 | 109,870 |
HSBC Holdings | Amounts owed to HSBC undertakings | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 330 | 464 |
HSBC Holdings | Financial investments – at amortised cost | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 83,653 | 81,531 |
HSBC Holdings | Subordinated liabilities | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 23,956 | 23,977 |
HSBC Holdings | Loans and advances to banks | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 10,443 | 10,218 |
HSBC Holdings | Financial investments – at amortised cost | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 17,485 | 16,106 |
HSBC Holdings | Fair value | Amounts owed to HSBC undertakings | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 330 | 464 |
HSBC Holdings | Fair value | Loans and advances to banks | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 10,702 | 10,504 |
HSBC Holdings | Fair value | Financial investments – at amortised cost | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets | 17,521 | 16,121 |
At cost | Financial investments – at amortised cost | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 95,492 | 104,555 |
At cost | Subordinated liabilities | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 20,095 | 22,775 |
At cost | Fair value | Financial investments – at amortised cost | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 97,028 | 104,936 |
At cost | HSBC Holdings | Financial investments – at amortised cost | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 64,029 | 56,844 |
At cost | HSBC Holdings | Subordinated liabilities | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 17,916 | 18,361 |
At cost | HSBC Holdings | Fair value | Financial investments – at amortised cost | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | 67,706 | 59,140 |
At cost | HSBC Holdings | Fair value | Subordinated liabilities | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial liabilities | $ 22,431 | $ 22,536 |
Financial assets designated a_3
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss - Summary (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of financial assets [line items] | ||
Financial assets | $ 2,880,751 | $ 2,621,427 |
Financial assets at fair value through profit or loss | ||
Disclosure of financial assets [line items] | ||
Financial assets | 45,553 | 43,627 |
Designated at fair value | ||
Disclosure of financial assets [line items] | ||
Financial assets | 2,492 | 2,345 |
Mandatorily measured at fair value | ||
Disclosure of financial assets [line items] | ||
Financial assets | 43,061 | 41,282 |
Securities | Financial assets at fair value through profit or loss | ||
Disclosure of financial assets [line items] | ||
Financial assets | 41,580 | 38,152 |
Securities | Designated at fair value | ||
Disclosure of financial assets [line items] | ||
Financial assets | 2,492 | 2,344 |
Securities | Mandatorily measured at fair value | ||
Disclosure of financial assets [line items] | ||
Financial assets | 39,088 | 35,808 |
Treasury and other eligible bills | Financial assets at fair value through profit or loss | ||
Disclosure of financial assets [line items] | ||
Financial assets | 661 | 661 |
Treasury and other eligible bills | Designated at fair value | ||
Disclosure of financial assets [line items] | ||
Financial assets | 635 | 630 |
Treasury and other eligible bills | Mandatorily measured at fair value | ||
Disclosure of financial assets [line items] | ||
Financial assets | 26 | 31 |
Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 88,639 | 85,735 |
Debt securities | Financial assets at fair value through profit or loss | ||
Disclosure of financial assets [line items] | ||
Financial assets | 7,107 | 6,552 |
Debt securities | Designated at fair value | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,857 | 1,714 |
Debt securities | Mandatorily measured at fair value | ||
Disclosure of financial assets [line items] | ||
Financial assets | 5,250 | 4,838 |
Equity securities | Financial assets at fair value through profit or loss | ||
Disclosure of financial assets [line items] | ||
Financial assets | 33,812 | 30,939 |
Equity securities | Designated at fair value | ||
Disclosure of financial assets [line items] | ||
Financial assets | 0 | 0 |
Equity securities | Mandatorily measured at fair value | ||
Disclosure of financial assets [line items] | ||
Financial assets | 33,812 | 30,939 |
Loans and advances to banks and customers | Financial assets at fair value through profit or loss | ||
Disclosure of financial assets [line items] | ||
Financial assets | 2,988 | 4,556 |
Loans and advances to banks and customers | Designated at fair value | ||
Disclosure of financial assets [line items] | ||
Financial assets | 0 | 1 |
Loans and advances to banks and customers | Mandatorily measured at fair value | ||
Disclosure of financial assets [line items] | ||
Financial assets | 2,988 | 4,555 |
Other | Financial assets at fair value through profit or loss | ||
Disclosure of financial assets [line items] | ||
Financial assets | 985 | 919 |
Other | Designated at fair value | ||
Disclosure of financial assets [line items] | ||
Financial assets | 0 | 0 |
Other | Mandatorily measured at fair value | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 985 | $ 919 |
Financial assets designated a_4
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss - Securities (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of financial assets [line items] | ||
Financial assets | $ 2,880,751 | $ 2,621,427 |
Financial assets at fair value through profit or loss | ||
Disclosure of financial assets [line items] | ||
Financial assets | 45,553 | 43,627 |
Designated at fair value | ||
Disclosure of financial assets [line items] | ||
Financial assets | 2,492 | 2,345 |
Mandatorily measured at fair value | ||
Disclosure of financial assets [line items] | ||
Financial assets | 43,061 | 41,282 |
Securities | Financial assets at fair value through profit or loss | ||
Disclosure of financial assets [line items] | ||
Financial assets | 41,580 | 38,152 |
Securities | Designated at fair value | ||
Disclosure of financial assets [line items] | ||
Financial assets | 2,492 | 2,344 |
Securities | Mandatorily measured at fair value | ||
Disclosure of financial assets [line items] | ||
Financial assets | 39,088 | 35,808 |
Hong Kong Government | Financial assets at fair value through profit or loss | ||
Disclosure of financial assets [line items] | ||
Financial assets | 22 | 4 |
Hong Kong Government | Designated at fair value | ||
Disclosure of financial assets [line items] | ||
Financial assets | 22 | 4 |
Hong Kong Government | Mandatorily measured at fair value | ||
Disclosure of financial assets [line items] | ||
Financial assets | 0 | 0 |
Other governments | Financial assets at fair value through profit or loss | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,322 | 1,420 |
Other governments | Designated at fair value | ||
Disclosure of financial assets [line items] | ||
Financial assets | 648 | 666 |
Other governments | Mandatorily measured at fair value | ||
Disclosure of financial assets [line items] | ||
Financial assets | 674 | 754 |
Asset-backed securities | Financial assets at fair value through profit or loss | ||
Disclosure of financial assets [line items] | ||
Financial assets | 235 | 363 |
Asset-backed securities | Designated at fair value | ||
Disclosure of financial assets [line items] | ||
Financial assets | 0 | 0 |
Asset-backed securities | Mandatorily measured at fair value | ||
Disclosure of financial assets [line items] | ||
Financial assets | 235 | 363 |
Corporate debt and other securities | Financial assets at fair value through profit or loss | ||
Disclosure of financial assets [line items] | ||
Financial assets | 6,189 | 5,426 |
Corporate debt and other securities | Designated at fair value | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,822 | 1,674 |
Corporate debt and other securities | Mandatorily measured at fair value | ||
Disclosure of financial assets [line items] | ||
Financial assets | 4,367 | 3,752 |
Equities | Financial assets at fair value through profit or loss | ||
Disclosure of financial assets [line items] | ||
Financial assets | 33,812 | 30,939 |
Equities | Designated at fair value | ||
Disclosure of financial assets [line items] | ||
Financial assets | 0 | 0 |
Equities | Mandatorily measured at fair value | ||
Disclosure of financial assets [line items] | ||
Financial assets | 33,812 | 30,939 |
Debt securities issued by banks and other financial institutions | Financial assets at fair value through profit or loss | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,180 | 1,244 |
Debt securities issued by banks and other financial institutions, guaranteed by governments | Financial assets at fair value through profit or loss | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 0 | $ 0 |
Derivatives - Notional contract
Derivatives - Notional contract amounts and fair value of derivatives by product contract type held by HSBC (Details) number in Millions, $ in Millions | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) |
Disclosure of detailed information about hedging instruments [line items] | ||
Notional contract amount of trading instruments | $ 23,889,261 | $ 27,619,214 |
Nominal contract amount of hedging instruments | 192,457 | 208,905 |
Fair value of trading assets | $ 374,606 | $ 283,071 |
Fair value of hedging assets | 2,223 | 1,663 |
Gross total fair values of derivative assets | 376,829 | 284,734 |
Fair value of derivative assets | 307,726 | 242,995 |
Fair value of trading liabilities | 368,035 | 278,465 |
Fair value of hedging liabilities | 4,069 | 2,771 |
Gross total fair values of derivative liabilities | 372,104 | 281,236 |
Fair value of derivative liabilities | 303,001 | 239,497 |
Derivatives | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Amounts offset on derivative liabilities | (69,103) | (41,739) |
Derivatives | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Amounts offset on derivative assets | (69,103) | (41,739) |
Foreign exchange | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional contract amount of trading instruments | $ 7,606,446 | $ 8,207,629 |
Nominal contract amount of hedging instruments | 35,021 | 31,899 |
Fair value of trading assets | $ 106,696 | $ 84,083 |
Fair value of hedging assets | 309 | 455 |
Gross total fair values of derivative assets | 107,005 | 84,538 |
Fair value of trading liabilities | 108,903 | 84,498 |
Fair value of hedging liabilities | 1,182 | 740 |
Gross total fair values of derivative liabilities | 110,085 | 85,238 |
Interest rate | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional contract amount of trading instruments | $ 15,240,867 | $ 17,895,349 |
Nominal contract amount of hedging instruments | 157,435 | 177,006 |
Fair value of trading assets | $ 249,204 | $ 183,668 |
Fair value of hedging assets | 1,914 | 1,208 |
Gross total fair values of derivative assets | 251,118 | 184,876 |
Fair value of trading liabilities | 236,594 | 175,095 |
Fair value of hedging liabilities | 2,887 | 2,031 |
Gross total fair values of derivative liabilities | 239,481 | 177,126 |
Equities | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional contract amount of trading instruments | $ 652,288 | $ 1,077,347 |
Nominal contract amount of hedging instruments | 0 | 0 |
Fair value of trading assets | $ 14,043 | $ 9,053 |
Fair value of hedging assets | 0 | 0 |
Gross total fair values of derivative assets | 14,043 | 9,053 |
Fair value of trading liabilities | 15,766 | 11,237 |
Fair value of hedging liabilities | 0 | 0 |
Gross total fair values of derivative liabilities | 15,766 | 11,237 |
Credit | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional contract amount of trading instruments | $ 269,401 | $ 345,644 |
Nominal contract amount of hedging instruments | 0 | 0 |
Fair value of trading assets | $ 2,590 | $ 4,744 |
Fair value of hedging assets | 0 | 0 |
Gross total fair values of derivative assets | 2,590 | 4,744 |
Fair value of trading liabilities | 3,682 | 5,597 |
Fair value of hedging liabilities | 0 | 0 |
Gross total fair values of derivative liabilities | 3,682 | 5,597 |
Commodity and other | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional contract amount of trading instruments | $ 120,259 | $ 93,245 |
Nominal contract amount of hedging instruments | 0 | 0 |
Fair value of trading assets | $ 2,073 | $ 1,523 |
Fair value of hedging assets | 0 | 0 |
Gross total fair values of derivative assets | 2,073 | 1,523 |
Fair value of trading liabilities | 3,090 | 2,038 |
Fair value of hedging liabilities | 0 | 0 |
Gross total fair values of derivative liabilities | $ 3,090 | $ 2,038 |
Derivatives - Notional contra_2
Derivatives - Notional contract amounts and fair values of derivatives by product contract type held by HSBC Holdings with subsidiaries (Details) number in Millions, $ in Millions | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) |
Disclosure of detailed information about hedging instruments [line items] | ||
Notional contract amount of trading instruments | $ 23,889,261 | $ 27,619,214 |
Nominal contract amount of hedging instruments | 192,457 | 208,905 |
Fair value of trading assets | $ 374,606 | $ 283,071 |
Fair value of hedging assets | 2,223 | 1,663 |
Fair value of derivative assets | 307,726 | 242,995 |
Fair value of trading liabilities | 368,035 | 278,465 |
Fair value of hedging liabilities | 4,069 | 2,771 |
Fair value of derivative liabilities | 303,001 | 239,497 |
Foreign exchange | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional contract amount of trading instruments | $ 7,606,446 | $ 8,207,629 |
Nominal contract amount of hedging instruments | 35,021 | 31,899 |
Fair value of trading assets | $ 106,696 | $ 84,083 |
Fair value of hedging assets | 309 | 455 |
Fair value of trading liabilities | 108,903 | 84,498 |
Fair value of hedging liabilities | 1,182 | 740 |
Interest rate | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional contract amount of trading instruments | $ 15,240,867 | $ 17,895,349 |
Nominal contract amount of hedging instruments | 157,435 | 177,006 |
Fair value of trading assets | $ 249,204 | $ 183,668 |
Fair value of hedging assets | 1,914 | 1,208 |
Fair value of trading liabilities | 236,594 | 175,095 |
Fair value of hedging liabilities | 2,887 | 2,031 |
HSBC Holdings | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Fair value of derivative assets | 4,698 | 2,002 |
Fair value of derivative liabilities | $ 3,060 | $ 2,021 |
HSBC Holdings | Interest rate | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Nominal contract amount of hedging instruments | 34,006 | 36,769 |
Fair value hedges | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Nominal contract amount of hedging instruments | 121,573 | 122,753 |
Fair value of hedging assets | $ 1,675 | $ 1,056 |
Fair value of hedging liabilities | $ 3,761 | $ 2,208 |
Fair value hedges | Interest rate | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Nominal contract amount of hedging instruments | 121,572 | 122,753 |
Fair value hedges | HSBC Holdings | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional contract amount of trading instruments | $ 70,982 | $ 73,917 |
Nominal contract amount of hedging instruments | 34,006 | 36,769 |
Fair value of trading assets | $ 1,472 | $ 596 |
Fair value of hedging assets | 3,221 | 1,406 |
Fair value of derivative assets | 4,693 | 2,002 |
Fair value of trading liabilities | 3,046 | 1,838 |
Fair value of hedging liabilities | 8 | 183 |
Fair value of derivative liabilities | 3,054 | 2,021 |
Fair value hedges | HSBC Holdings | Foreign exchange | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional contract amount of trading instruments | $ 23,413 | $ 24,980 |
Nominal contract amount of hedging instruments | 0 | 0 |
Fair value of trading assets | $ 506 | $ 161 |
Fair value of hedging assets | 0 | 0 |
Fair value of derivative assets | 506 | 161 |
Fair value of trading liabilities | 870 | 766 |
Fair value of hedging liabilities | 0 | 0 |
Fair value of derivative liabilities | 870 | 766 |
Fair value hedges | HSBC Holdings | Interest rate | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional contract amount of trading instruments | $ 47,569 | $ 48,937 |
Nominal contract amount of hedging instruments | 34,006 | 36,769 |
Fair value of trading assets | $ 966 | $ 435 |
Fair value of hedging assets | 3,221 | 1,406 |
Fair value of derivative assets | 4,187 | 1,841 |
Fair value of trading liabilities | 2,176 | 1,072 |
Fair value of hedging liabilities | 8 | 183 |
Fair value of derivative liabilities | $ 2,184 | $ 1,255 |
Derivatives - Unamortised balan
Derivatives - Unamortised balance of derivatives valued using models with significant unobservable inputs (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 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 | $ 73,000 | $ 86,000 |
Deferral on new transactions | 232,000 | 145,000 |
Recognised in the income statement during the year: | (205,000) | (154,000) |
– amortisation | (116,000) | (80,000) |
– subsequent to unobservable inputs becoming observable | (4,000) | (3,000) |
– maturity, termination or offsetting derivative | (85,000) | (71,000) |
Exchange differences | 4,000 | 1,000 |
Other | 0 | (5,000) |
Unamortised balance at end of period | $ 104,000 | $ 73,000 |
Derivatives - Fair value hedges
Derivatives - Fair value hedges - Hedging instrument by hedged risk (Details) $ in Millions | 12 Months Ended | |
Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | |
Disclosure of detailed information about hedging instruments [line items] | ||
Notional amount | 192,457 | 208,905 |
Carrying amount, assets | $ 2,223 | $ 1,663 |
Carrying amount, liabilities | $ 4,069 | $ 2,771 |
Fair value hedges | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional amount | 121,573,000,000 | 122,753,000,000 |
Carrying amount, assets | $ 1,675 | $ 1,056 |
Carrying amount, liabilities | 3,761 | 2,208 |
Change in fair value | $ (1,894) | $ (1,531) |
Interest rate | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional amount | 157,435,000,000 | 177,006,000,000 |
Carrying amount, assets | $ 1,914 | $ 1,208 |
Carrying amount, liabilities | $ 2,887 | $ 2,031 |
Interest rate | Fair value hedges | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional amount | 121,572,000,000 | 122,753,000,000 |
HSBC Holdings | Fair value hedges | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional amount | 34,006,000,000 | 36,769,000,000 |
Carrying amount, assets | $ 3,221 | $ 1,406 |
Carrying amount, liabilities | 8 | 183 |
Change in fair value | $ 1,927 | $ 1,704 |
Weighted average rate of hedging instrument | 1.71% | |
HSBC Holdings | Interest rate | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional amount | 34,006,000,000 | 36,769,000,000 |
HSBC Holdings | Interest rate | Fair value hedges | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional amount | 34,006,000,000 | 36,769,000,000 |
Carrying amount, assets | $ 3,221 | $ 1,406 |
Carrying amount, liabilities | $ 8 | $ 183 |
Derivatives | Interest rate | Fair value hedges | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional amount | 121,573,000,000 | 122,753,000,000 |
Carrying amount, assets | $ 1,675 | $ 1,056 |
Carrying amount, liabilities | 3,761 | 2,208 |
Change in fair value | $ (1,894) | $ (1,531) |
Derivatives | HSBC Holdings | Interest rate | Fair value hedges | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional amount | 34,006,000,000 | 36,769,000,000 |
Carrying amount, assets | $ 3,221 | $ 1,406 |
Carrying amount, liabilities | 8 | 183 |
Change in fair value | $ 1,927 | $ 1,704 |
Derivatives - Fair value hedg_2
Derivatives - Fair value hedges - Hedged item by hedged risk (Details) - Interest rate - Fair value hedges - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of detailed information about hedged items [line items] | ||
Carrying amount, assets | $ 104,546 | $ 92,667 |
Carrying amount, liabilities | 12,237 | 18,215 |
Accumulated fair value hedge adjustments included in carrying amount, assets | 3,451 | 1,875 |
Accumulated fair value hedge adjustments included in carrying amount, liabilities | 1,623 | 836 |
Change in fair value | 1,883 | 1,524 |
Gain (loss) on hedge ineffectiveness recognised in profit or loss | (11) | (7) |
Financial assets designated and otherwise mandatorily measured at fair value through other comprehensive income | ||
Disclosure of detailed information about hedged items [line items] | ||
Carrying amount, assets | 102,260 | 90,617 |
Accumulated fair value hedge adjustments included in carrying amount, assets | 3,392 | 1,859 |
Change in fair value | 2,456 | 2,304 |
Accumulated fair value hedge adjustment remaining in statement of financial position for hedged item that ceased to be adjusted for hedging gains and losses, assets | 855 | |
Loans and advances to banks | ||
Disclosure of detailed information about hedged items [line items] | ||
Carrying amount, assets | 6 | 153 |
Accumulated fair value hedge adjustments included in carrying amount, assets | 3 | 4 |
Change in fair value | 1 | 5 |
Loans and advances to customers | ||
Disclosure of detailed information about hedged items [line items] | ||
Carrying amount, assets | 2,280 | 1,897 |
Accumulated fair value hedge adjustments included in carrying amount, assets | 56 | 12 |
Change in fair value | 21 | 24 |
Debt securities in issue | ||
Disclosure of detailed information about hedged items [line items] | ||
Carrying amount, liabilities | 12,148 | 15,206 |
Accumulated fair value hedge adjustments included in carrying amount, liabilities | 1,620 | 797 |
Change in fair value | (613) | (1,011) |
Accumulated fair value hedge adjustment remaining in statement of financial position for hedged item that ceased to be adjusted for hedging gains and losses, liabilities | 17 | |
Deposits by banks | ||
Disclosure of detailed information about hedged items [line items] | ||
Carrying amount, liabilities | 89 | 3,009 |
Accumulated fair value hedge adjustments included in carrying amount, liabilities | 3 | 39 |
Change in fair value | 18 | 202 |
HSBC Holdings | ||
Disclosure of detailed information about hedged items [line items] | ||
Carrying amount, assets | 0 | 0 |
Carrying amount, liabilities | 37,338 | 38,126 |
Accumulated fair value hedge adjustments included in carrying amount, assets | 0 | 0 |
Accumulated fair value hedge adjustments included in carrying amount, liabilities | 3,027 | 1,088 |
Change in fair value | (1,910) | (1,697) |
Gain (loss) on hedge ineffectiveness recognised in profit or loss | 17 | 7 |
HSBC Holdings | Debt securities in issue | ||
Disclosure of detailed information about hedged items [line items] | ||
Carrying amount, liabilities | 37,338 | 38,126 |
Accumulated fair value hedge adjustments included in carrying amount, liabilities | 3,027 | 1,088 |
Change in fair value | (1,910) | (1,697) |
Gain (loss) on hedge ineffectiveness recognised in profit or loss | 17 | $ 7 |
Accumulated fair value hedge adjustment remaining in statement of financial position for hedged item that ceased to be adjusted for hedging gains and losses, liabilities | $ 62.8 |
Derivatives - Cash flow hedges
Derivatives - Cash flow hedges - Hedging instrument by hedged risk (Details) number in Millions, $ in Millions | 12 Months Ended | |
Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | |
Disclosure of detailed information about hedging instruments [line items] | ||
Notional amount | 192,457 | 208,905 |
Carrying amount, assets | $ 2,223 | $ 1,663 |
Carrying amount, liabilities | $ 4,069 | $ 2,771 |
Cash flow hedges | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional amount | 60,369 | 75,638 |
Carrying amount, assets | $ 548 | $ 607 |
Carrying amount, liabilities | 450 | 300 |
Change in fair value of hedging instrument | (111) | 536 |
Change in fair value of hedged item | (116) | 534 |
Gain (loss) on hedge ineffectiveness recognised in profit or loss | $ 5 | $ 2 |
Foreign currency | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional amount | 35,021 | 31,899 |
Carrying amount, assets | $ 309 | $ 455 |
Carrying amount, liabilities | $ 1,182 | $ 740 |
Interest rate | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional amount | 157,435 | 177,006 |
Carrying amount, assets | $ 1,914 | $ 1,208 |
Carrying amount, liabilities | $ 2,887 | $ 2,031 |
Interest rate | Cash flow hedges | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional amount | 35,863 | 54,253 |
Derivatives | Foreign currency | Cash flow hedges | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional amount | 24,506 | 21,385 |
Carrying amount, assets | $ 309 | $ 455 |
Carrying amount, liabilities | 448 | 254 |
Change in fair value of hedging instrument | (630) | 341 |
Change in fair value of hedged item | (630) | 341 |
Gain (loss) on hedge ineffectiveness recognised in profit or loss | $ 0 | $ 0 |
Derivatives | Interest rate | Cash flow hedges | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional amount | 35,863 | 54,253 |
Carrying amount, assets | $ 239 | $ 152 |
Carrying amount, liabilities | 2 | 46 |
Change in fair value of hedging instrument | 519 | 195 |
Change in fair value of hedged item | 514 | 193 |
Gain (loss) on hedge ineffectiveness recognised in profit or loss | $ 5 | $ 2 |
Derivatives - Cash flow hedge_2
Derivatives - Cash flow hedges - Reconciliation of equity and analysis of other comprehensive income by risk type (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Changes in reserve of cash flow hedges, continuing hedges [Roll Forward] | |||
– fair value gains/(losses) | $ (157) | $ 551 | $ (267) |
Fair value (gains)/losses reclassified from the cash flow hedge reserve to the income statement in respect of: | |||
Income taxes | (141) | (59) | (31) |
Interest rate | Cash flow hedges | |||
Changes in reserve of cash flow hedges, continuing hedges [Roll Forward] | |||
Cash flow hedging reserve, beginning balance | 204 | (26) | |
– fair value gains/(losses) | 514 | 193 | |
Cash flow hedging reserve, ending balance | 495 | 204 | (26) |
Fair value (gains)/losses reclassified from the cash flow hedge reserve to the income statement in respect of: | |||
Hedged items that have affected profit or loss | (107) | 99 | |
Income taxes | (79) | (53) | |
Others | (37) | (9) | |
Foreign currency | Cash flow hedges | |||
Changes in reserve of cash flow hedges, continuing hedges [Roll Forward] | |||
Cash flow hedging reserve, beginning balance | (205) | (182) | |
– fair value gains/(losses) | (630) | 341 | |
Cash flow hedging reserve, ending balance | (37) | (205) | $ (182) |
Fair value (gains)/losses reclassified from the cash flow hedge reserve to the income statement in respect of: | |||
Hedged items that have affected profit or loss | 822 | (371) | |
Income taxes | (23) | 4 | |
Others | $ (1) | $ 3 |
Derivatives - Hedges of net inv
Derivatives - Hedges of net investments in foreign operations (Details) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | |
Disclosure of detailed information about hedging instruments [line items] | |||
Fair value of hedging assets | $ 2,223 | $ 1,663 | |
Fair value of hedging liabilities | $ 4,069 | $ 2,771 | |
Notional amount | 192,457 | 208,905 | |
Hedges of net investment in foreign operations | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Fair value of hedging assets | $ 0 | $ 0 | |
Fair value of hedging liabilities | $ 733 | $ 485 | |
Notional amount | 10,500 | 10,500 | |
Gains (losses) on ineffectiveness of hedges of net investments in foreign operations recognised in profit or loss | $ 0 | $ 0 | |
Reserve of cash flow hedges | (56) | 304 | $ 780 |
Reclassification adjustments on cash flow hedges, net of tax | $ 0 | $ 0 | $ 0 |
Derivatives - Cash flow hedge_3
Derivatives - Cash flow hedges - Hedging instruments impacted by Ibor reform (Details) $ in Millions | Oct. 02, 2019 | Dec. 31, 2020USD ($) | Dec. 31, 2020 | Dec. 31, 2019USD ($) | Dec. 31, 2019 |
Disclosure of initial application of standards or interpretations [line items] | |||||
Notional amount | 192,457 | 208,905 | |||
Eonia, adjustment to interest rate basis | 8.50% | ||||
Fair value hedges | |||||
Disclosure of initial application of standards or interpretations [line items] | |||||
Notional amount | 121,573,000,000 | 122,753,000,000 | |||
Cash flow hedges | |||||
Disclosure of initial application of standards or interpretations [line items] | |||||
Notional amount | 60,369,000,000 | 75,638,000,000 | |||
HSBC Holdings | Fair value hedges | |||||
Disclosure of initial application of standards or interpretations [line items] | |||||
Notional amount | 34,006 | 34,006,000,000 | 36,769 | 36,769,000,000 | |
Interest rate | |||||
Disclosure of initial application of standards or interpretations [line items] | |||||
Notional amount | 157,436 | 157,435,000,000 | 177,006 | 177,006,000,000 | |
Interest rate | Impacted by Ibor reform | |||||
Disclosure of initial application of standards or interpretations [line items] | |||||
Notional amount | 90,783,000,000 | 123,667,000,000 | |||
Interest rate | Impacted by Ibor reform | € | |||||
Disclosure of initial application of standards or interpretations [line items] | |||||
Notional amount | 26,136,000,000 | 26,102,000,000 | |||
Interest rate | Impacted by Ibor reform | £ | |||||
Disclosure of initial application of standards or interpretations [line items] | |||||
Notional amount | 6,228,000,000 | 11,127,000,000 | |||
Interest rate | Impacted by Ibor reform | $ | |||||
Disclosure of initial application of standards or interpretations [line items] | |||||
Notional amount | 41,494,000,000 | 57,024,000,000 | |||
Interest rate | Impacted by Ibor reform | Other | |||||
Disclosure of initial application of standards or interpretations [line items] | |||||
Notional amount | 16,925,000,000 | 29,414,000,000 | |||
Interest rate | Not impacted by Ibor reform | |||||
Disclosure of initial application of standards or interpretations [line items] | |||||
Notional amount | 66,652,000,000 | 53,339,000,000 | |||
Interest rate | Fair value hedges | |||||
Disclosure of initial application of standards or interpretations [line items] | |||||
Notional amount | 121,572,000,000 | 122,753,000,000 | |||
Interest rate | Fair value hedges | Impacted by Ibor reform | |||||
Disclosure of initial application of standards or interpretations [line items] | |||||
Notional amount | 64,415,000,000 | 79,620,000,000 | |||
Interest rate | Fair value hedges | Impacted by Ibor reform | € | |||||
Disclosure of initial application of standards or interpretations [line items] | |||||
Notional amount | 17,792,000,000 | 20,378,000,000 | |||
Interest rate | Fair value hedges | Impacted by Ibor reform | £ | |||||
Disclosure of initial application of standards or interpretations [line items] | |||||
Notional amount | 3,706,000,000 | 4,533,000,000 | |||
Interest rate | Fair value hedges | Impacted by Ibor reform | $ | |||||
Disclosure of initial application of standards or interpretations [line items] | |||||
Notional amount | 32,789,000,000 | 41,274,000,000 | |||
Interest rate | Fair value hedges | Impacted by Ibor reform | Other | |||||
Disclosure of initial application of standards or interpretations [line items] | |||||
Notional amount | 10,128,000,000 | 13,435,000,000 | |||
Interest rate | Fair value hedges | Not impacted by Ibor reform | |||||
Disclosure of initial application of standards or interpretations [line items] | |||||
Notional amount | 57,157,000,000 | 43,133,000,000 | |||
Interest rate | Cash flow hedges | |||||
Disclosure of initial application of standards or interpretations [line items] | |||||
Notional amount | 35,863,000,000 | 54,253,000,000 | |||
Interest rate | Cash flow hedges | Impacted by Ibor reform | |||||
Disclosure of initial application of standards or interpretations [line items] | |||||
Notional amount | 26,368,000,000 | 44,047,000,000 | |||
Interest rate | Cash flow hedges | Impacted by Ibor reform | € | |||||
Disclosure of initial application of standards or interpretations [line items] | |||||
Notional amount | 8,344,000,000 | 5,724,000,000 | |||
Interest rate | Cash flow hedges | Impacted by Ibor reform | £ | |||||
Disclosure of initial application of standards or interpretations [line items] | |||||
Notional amount | 2,522,000,000 | 6,594,000,000 | |||
Interest rate | Cash flow hedges | Impacted by Ibor reform | $ | |||||
Disclosure of initial application of standards or interpretations [line items] | |||||
Notional amount | 8,705,000,000 | 15,750,000,000 | |||
Interest rate | Cash flow hedges | Impacted by Ibor reform | Other | |||||
Disclosure of initial application of standards or interpretations [line items] | |||||
Notional amount | 6,797,000,000 | 15,979,000,000 | |||
Interest rate | Cash flow hedges | Not impacted by Ibor reform | |||||
Disclosure of initial application of standards or interpretations [line items] | |||||
Notional amount | 9,495,000,000 | 10,206,000,000 | |||
Interest rate | HSBC Holdings | |||||
Disclosure of initial application of standards or interpretations [line items] | |||||
Notional amount | 34,006,000,000 | 36,769,000,000 | |||
Interest rate | HSBC Holdings | Impacted by Ibor reform | |||||
Disclosure of initial application of standards or interpretations [line items] | |||||
Notional amount | 34,006,000,000 | 36,769,000,000 | |||
Interest rate | HSBC Holdings | Impacted by Ibor reform | € | |||||
Disclosure of initial application of standards or interpretations [line items] | |||||
Notional amount | 4,290,000,000 | 3,928,000,000 | |||
Interest rate | HSBC Holdings | Impacted by Ibor reform | £ | |||||
Disclosure of initial application of standards or interpretations [line items] | |||||
Notional amount | 5,393,000,000 | 5,222,000,000 | |||
Interest rate | HSBC Holdings | Impacted by Ibor reform | $ | |||||
Disclosure of initial application of standards or interpretations [line items] | |||||
Notional amount | 21,081,000,000 | 24,500,000,000 | |||
Interest rate | HSBC Holdings | Impacted by Ibor reform | Other | |||||
Disclosure of initial application of standards or interpretations [line items] | |||||
Notional amount | 3,242,000,000 | 3,119,000,000 | |||
Interest rate | HSBC Holdings | Not impacted by Ibor reform | |||||
Disclosure of initial application of standards or interpretations [line items] | |||||
Notional amount | 0 | 0 | |||
Interest rate | HSBC Holdings | Fair value hedges | |||||
Disclosure of initial application of standards or interpretations [line items] | |||||
Notional amount | 34,006 | 34,006,000,000 | 36,769 | 36,769,000,000 | |
Interest rate | HSBC Holdings | Fair value hedges | Impacted by Ibor reform | |||||
Disclosure of initial application of standards or interpretations [line items] | |||||
Notional amount | 34,006,000,000 | 36,769,000,000 | |||
Interest rate | HSBC Holdings | Fair value hedges | Impacted by Ibor reform | € | |||||
Disclosure of initial application of standards or interpretations [line items] | |||||
Notional amount | 4,290,000,000 | 3,928,000,000 | |||
Interest rate | HSBC Holdings | Fair value hedges | Impacted by Ibor reform | £ | |||||
Disclosure of initial application of standards or interpretations [line items] | |||||
Notional amount | 5,393,000,000 | 5,222,000,000 | |||
Interest rate | HSBC Holdings | Fair value hedges | Impacted by Ibor reform | $ | |||||
Disclosure of initial application of standards or interpretations [line items] | |||||
Notional amount | 21,081,000,000 | 24,500,000,000 | |||
Interest rate | HSBC Holdings | Fair value hedges | Impacted by Ibor reform | Other | |||||
Disclosure of initial application of standards or interpretations [line items] | |||||
Notional amount | 3,242,000,000 | 3,119,000,000 | |||
Interest rate | HSBC Holdings | Fair value hedges | Not impacted by Ibor reform | |||||
Disclosure of initial application of standards or interpretations [line items] | |||||
Notional amount | 0 | 0 |
Derivatives - Notional contra_3
Derivatives - Notional contract amounts and fair values of derivatives designated as cash flow hedges by product held by HSBC (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of detailed information about hedging instruments [line items] | ||
Fair value of hedging assets | $ 2,223 | $ 1,663 |
Fair value of hedging liabilities | 4,069 | 2,771 |
Cash flow hedges | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Fair value of hedging assets | 548 | 607 |
Fair value of hedging liabilities | 450 | 300 |
Foreign exchange | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Fair value of hedging assets | 309 | 455 |
Fair value of hedging liabilities | 1,182 | 740 |
Interest rate | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Fair value of hedging assets | 1,914 | 1,208 |
Fair value of hedging liabilities | $ 2,887 | $ 2,031 |
Financial Investments - Carryin
Financial Investments - Carrying amount of financial investments (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of financial assets [line items] | ||
Financial assets | $ 2,880,751 | $ 2,621,427 |
Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 88,639 | 85,735 |
Financial assets designated and otherwise mandatorily measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Financial assets | 402,054 | 357,577 |
Financial assets designated and otherwise mandatorily measured at fair value through other comprehensive income | Treasury and other eligible bills | ||
Disclosure of financial assets [line items] | ||
Financial assets | 118,163 | 95,043 |
Financial assets designated and otherwise mandatorily measured at fair value through other comprehensive income | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 281,467 | 260,536 |
Financial assets designated and otherwise mandatorily measured at fair value through other comprehensive income | Equity securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 2,337 | 1,913 |
Financial assets designated and otherwise mandatorily measured at fair value through other comprehensive income | Other instruments | ||
Disclosure of financial assets [line items] | ||
Financial assets | 87 | 85 |
Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | 88,639 | 85,735 |
Debt instruments measured at amortised cost | Treasury and other eligible bills | ||
Disclosure of financial assets [line items] | ||
Financial assets | 11,757 | 10,476 |
Debt instruments measured at amortised cost | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 76,882 | 75,259 |
Financial investments | ||
Disclosure of financial assets [line items] | ||
Financial assets | 490,693 | 443,312 |
Financial investments | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 358,349 | $ 335,795 |
Financial Investments - Equity
Financial Investments - Equity instruments measured at fair value through other comprehensive income (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Fair value of equity instruments held at year end | $ 2,337 | $ 1,913 |
Dividends recognised for equity instruments held at year end | 47 | 50 |
Investments required by central institutions | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Fair value of equity instruments held at year end | 904 | 738 |
Dividends recognised for equity instruments held at year end | 22 | 22 |
Business facilitation | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Fair value of equity instruments held at year end | 1,387 | 1,124 |
Dividends recognised for equity instruments held at year end | 22 | 19 |
Others | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Fair value of equity instruments held at year end | 46 | 51 |
Dividends recognised for equity instruments held at year end | $ 3 | $ 9 |
Financial Investments - Financi
Financial Investments - Financial investments at amortised cost and fair value (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of financial assets [line items] | ||
Amortised cost | $ 481,874 | $ 436,959 |
Fair value | 498,770 | 446,705 |
US Treasury | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 75,531 | 79,633 |
Fair value | 78,251 | 80,589 |
US Government agencies | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 19,851 | 26,356 |
Fair value | 20,320 | 26,387 |
US Government-sponsored entities | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 10,691 | 8,070 |
Fair value | 11,224 | 8,259 |
UK Government | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 28,094 | 28,621 |
Fair value | 28,754 | 28,973 |
Hong Kong Government | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 55,483 | 47,824 |
Fair value | 55,507 | 47,820 |
Other governments | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 178,091 | 140,510 |
Fair value | 180,881 | 142,511 |
Asset-backed securities | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 2,708 | 2,954 |
Fair value | 2,536 | 2,889 |
Corporate debt and other securities | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 110,015 | 101,750 |
Fair value | 118,960 | 107,364 |
Equities | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 1,410 | 1,241 |
Fair value | 2,337 | 1,913 |
Debt securities issued by banks and other financial institutions | ||
Disclosure of financial assets [line items] | ||
Fair value | 62,000 | 61,000 |
Debt securities issued by banks and other financial institutions, guaranteed by governments | ||
Disclosure of financial assets [line items] | ||
Fair value | $ 10,000 | $ 11,000 |
Financial Investments - Maturit
Financial Investments - Maturities of investments in debt securities at their carrying amount (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of financial assets [line items] | ||
Financial assets | $ 2,880,751 | $ 2,621,427 |
Amortised cost | 481,874 | 436,959 |
Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 88,639 | 85,735 |
Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Financial assets | 402,054 | 357,577 |
Debt securities measured at fair value through other comprehensive income | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 281,467 | 260,536 |
Debt securities measured at fair value through other comprehensive income | Not later than one year | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 72,250 | 61,833 |
Amortised cost | 71,831 | |
Debt securities measured at fair value through other comprehensive income | 1 to 5 years | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 131,859 | 123,740 |
Amortised cost | 127,497 | |
Debt securities measured at fair value through other comprehensive income | 5 to 10 years | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 42,168 | 42,831 |
Amortised cost | 40,788 | |
Debt securities measured at fair value through other comprehensive income | Over 10 years | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 35,190 | 32,132 |
Amortised cost | 33,552 | |
Debt securities measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | 88,639 | 85,735 |
Debt securities measured at amortised cost | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 76,882 | 75,259 |
Amortised cost | 76,882 | |
Debt securities measured at amortised cost | Not later than one year | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 6,135 | 5,472 |
Amortised cost | 6,135 | |
Debt securities measured at amortised cost | 1 to 5 years | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 16,497 | 14,395 |
Amortised cost | 16,499 | |
Debt securities measured at amortised cost | 5 to 10 years | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 19,439 | 21,431 |
Amortised cost | 19,437 | |
Debt securities measured at amortised cost | Over 10 years | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 34,812 | 33,961 |
Amortised cost | 34,811 | |
Financial investments | ||
Disclosure of financial assets [line items] | ||
Financial assets | 490,693 | 443,312 |
Financial investments | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 358,349 | 335,795 |
Financial investments | Not later than one year | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 78,385 | 67,305 |
Financial investments | 1 to 5 years | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 148,358 | 138,135 |
Financial investments | 5 to 10 years | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 61,605 | 64,262 |
Financial investments | Over 10 years | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 70,001 | $ 66,093 |
Financial Investments - Contrac
Financial Investments - Contractual maturities and weighted average yields of investment debt securities (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of financial assets [line items] | ||
Amortised cost | $ 481,874 | $ 436,959 |
Financial assets | 2,880,751 | 2,621,427 |
Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Financial assets | 402,054 | 357,577 |
Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | 88,639 | 85,735 |
Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 88,639 | 85,735 |
Debt securities | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Financial assets | 281,467 | 260,536 |
Debt securities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 76,882 | |
Financial assets | 76,882 | 75,259 |
US Treasury | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 75,531 | 79,633 |
US Government agencies | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 19,851 | 26,356 |
US Government-sponsored entities | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 10,691 | 8,070 |
UK Government | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 28,094 | 28,621 |
Hong Kong Government | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 55,483 | 47,824 |
Other governments | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 178,091 | 140,510 |
Asset-backed securities | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 2,708 | 2,954 |
Corporate debt and other securities | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 110,015 | 101,750 |
Not later than one year | Debt securities | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 71,831 | |
Financial assets | 72,250 | 61,833 |
Not later than one year | Debt securities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 6,135 | |
Financial assets | 6,135 | 5,472 |
Not later than one year | US Treasury | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 6,596 | |
Yield | 1.20% | |
Not later than one year | US Treasury | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 3,769 | |
Yield | 0.10% | |
Not later than one year | US Government agencies | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 0 | |
Yield | 0.00% | |
Not later than one year | US Government agencies | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 0 | |
Yield | 0.00% | |
Not later than one year | US Government-sponsored entities | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 30 | |
Yield | 2.80% | |
Not later than one year | US Government-sponsored entities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 110 | |
Yield | 2.50% | |
Not later than one year | UK Government | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 2,765 | |
Yield | 1.50% | |
Not later than one year | Hong Kong Government | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 84 | |
Yield | 1.60% | |
Not later than one year | Hong Kong Government | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 13 | |
Yield | 3.00% | |
Not later than one year | Other governments | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 51,507 | |
Yield | 1.70% | |
Not later than one year | Other governments | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 179 | |
Yield | 3.40% | |
Not later than one year | Asset-backed securities | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 18 | |
Yield | 2.90% | |
Not later than one year | Asset-backed securities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 0 | |
Yield | 0.00% | |
Not later than one year | Corporate debt and other securities | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 10,831 | |
Yield | 2.10% | |
Not later than one year | Corporate debt and other securities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 2,064 | |
Yield | 3.30% | |
1 to 5 years | Debt securities | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 127,497 | |
Financial assets | 131,859 | 123,740 |
1 to 5 years | Debt securities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 16,499 | |
Financial assets | 16,497 | 14,395 |
1 to 5 years | US Treasury | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 22,945 | |
Yield | 1.60% | |
1 to 5 years | US Treasury | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 4,618 | |
Yield | 1.60% | |
1 to 5 years | US Government agencies | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 95 | |
Yield | 1.80% | |
1 to 5 years | US Government agencies | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 9 | |
Yield | 3.80% | |
1 to 5 years | US Government-sponsored entities | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 789 | |
Yield | 2.20% | |
1 to 5 years | US Government-sponsored entities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 258 | |
Yield | 2.70% | |
1 to 5 years | UK Government | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 5,126 | |
Yield | 0.80% | |
1 to 5 years | Hong Kong Government | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 247 | |
Yield | 1.60% | |
1 to 5 years | Hong Kong Government | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 23 | |
Yield | 1.60% | |
1 to 5 years | Other governments | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 62,587 | |
Yield | 2.30% | |
1 to 5 years | Other governments | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 370 | |
Yield | 4.10% | |
1 to 5 years | Asset-backed securities | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 93 | |
Yield | 1.40% | |
1 to 5 years | Asset-backed securities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 0 | |
Yield | 0.00% | |
1 to 5 years | Corporate debt and other securities | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 35,615 | |
Yield | 1.40% | |
1 to 5 years | Corporate debt and other securities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 11,221 | |
Yield | 3.40% | |
5 to 10 years | Debt securities | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 40,788 | |
Financial assets | 42,168 | 42,831 |
5 to 10 years | Debt securities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 19,437 | |
Financial assets | 19,439 | 21,431 |
5 to 10 years | US Treasury | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 15,618 | |
Yield | 1.50% | |
5 to 10 years | US Treasury | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 3,003 | |
Yield | 2.00% | |
5 to 10 years | US Government agencies | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 43 | |
Yield | 2.80% | |
5 to 10 years | US Government agencies | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 13 | |
Yield | 4.50% | |
5 to 10 years | US Government-sponsored entities | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 2,988 | |
Yield | 2.50% | |
5 to 10 years | US Government-sponsored entities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 436 | |
Yield | 2.20% | |
5 to 10 years | UK Government | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 6,220 | |
Yield | 0.20% | |
5 to 10 years | Hong Kong Government | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 167 | |
Yield | 1.80% | |
5 to 10 years | Hong Kong Government | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 118 | |
Yield | 2.60% | |
5 to 10 years | Other governments | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 8,184 | |
Yield | 1.60% | |
5 to 10 years | Other governments | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 426 | |
Yield | 3.80% | |
5 to 10 years | Asset-backed securities | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 399 | |
Yield | 1.80% | |
5 to 10 years | Asset-backed securities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 0 | |
Yield | 0.00% | |
5 to 10 years | Corporate debt and other securities | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 7,169 | |
Yield | 1.80% | |
5 to 10 years | Corporate debt and other securities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 15,441 | |
Yield | 3.40% | |
Over 10 years | Debt securities | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 33,552 | |
Financial assets | 35,190 | 32,132 |
Over 10 years | Debt securities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 34,811 | |
Financial assets | 34,812 | $ 33,961 |
Over 10 years | US Treasury | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 4,195 | |
Yield | 2.30% | |
Over 10 years | US Treasury | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 969 | |
Yield | 2.80% | |
Over 10 years | US Government agencies | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 12,608 | |
Yield | 1.80% | |
Over 10 years | US Government agencies | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 7,084 | |
Yield | 2.60% | |
Over 10 years | US Government-sponsored entities | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 4,968 | |
Yield | 1.80% | |
Over 10 years | US Government-sponsored entities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 1,112 | |
Yield | 3.30% | |
Over 10 years | UK Government | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 4,910 | |
Yield | 2.30% | |
Over 10 years | Hong Kong Government | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 0 | |
Yield | 0.00% | |
Over 10 years | Hong Kong Government | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 12 | |
Yield | 4.80% | |
Over 10 years | Other governments | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 2,089 | |
Yield | 4.30% | |
Over 10 years | Other governments | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 1,011 | |
Yield | 4.20% | |
Over 10 years | Asset-backed securities | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 2,199 | |
Yield | 1.20% | |
Over 10 years | Asset-backed securities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 2 | |
Yield | 6.00% | |
Over 10 years | Corporate debt and other securities | Debt securities measured at fair value through other comprehensive income | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 2,583 | |
Yield | 3.40% | |
Over 10 years | Corporate debt and other securities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 24,621 | |
Yield | 3.80% |
Financial Investments - HSBC Ho
Financial Investments - HSBC Holdings, Carrying amount of financial investments (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of financial assets [line items] | ||
Financial assets | $ 2,880,751 | $ 2,621,427 |
Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 88,639 | 85,735 |
Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | 88,639 | 85,735 |
Debt instruments measured at amortised cost | Treasury and other eligible bills | ||
Disclosure of financial assets [line items] | ||
Financial assets | 11,757 | 10,476 |
Debt instruments measured at amortised cost | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 76,882 | 75,259 |
HSBC Holdings | ||
Disclosure of financial assets [line items] | ||
Financial assets | 102,237 | 93,215 |
HSBC Holdings | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 17,485 | 16,106 |
HSBC Holdings | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | 17,485 | 16,106 |
HSBC Holdings | Debt instruments measured at amortised cost | Treasury and other eligible bills | ||
Disclosure of financial assets [line items] | ||
Financial assets | 10,941 | 10,081 |
HSBC Holdings | Debt instruments measured at amortised cost | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 6,544 | $ 6,025 |
Financial Investments - HSBC _2
Financial Investments - HSBC Holdings, Financial investments at amortised cost and fair value (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of financial assets [line items] | ||
Amortised cost | $ 481,874 | $ 436,959 |
Fair value | 498,770 | 446,705 |
US Treasury | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 75,531 | 79,633 |
Fair value | 78,251 | 80,589 |
US Government agencies | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 19,851 | 26,356 |
Fair value | 20,320 | 26,387 |
US Government-sponsored entities | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 10,691 | 8,070 |
Fair value | 11,224 | 8,259 |
HSBC Holdings | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 17,485 | 16,106 |
Fair value | 17,521 | 16,121 |
HSBC Holdings | US Treasury | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 17,485 | 16,106 |
Fair value | 17,521 | 16,121 |
HSBC Holdings | US Government agencies | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 0 | 0 |
Fair value | 0 | 0 |
HSBC Holdings | US Government-sponsored entities | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 0 | 0 |
Fair value | $ 0 | $ 0 |
Financial Investments - HSBC _3
Financial Investments - HSBC Holdings, Maturities of investments in debt securities at their carrying amount (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of financial assets [line items] | ||
Financial assets | $ 2,880,751 | $ 2,621,427 |
Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 88,639 | 85,735 |
Debt securities measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | 88,639 | 85,735 |
Debt securities measured at amortised cost | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 76,882 | 75,259 |
Debt securities measured at amortised cost | Not later than one year | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 6,135 | 5,472 |
Debt securities measured at amortised cost | 1 to 5 years | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 16,497 | 14,395 |
Debt securities measured at amortised cost | 5 to 10 years | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 19,439 | 21,431 |
Debt securities measured at amortised cost | Over 10 years | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 34,812 | 33,961 |
Financial investments | ||
Disclosure of financial assets [line items] | ||
Financial assets | 490,693 | 443,312 |
Financial investments | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 358,349 | 335,795 |
Financial investments | Not later than one year | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 78,385 | 67,305 |
Financial investments | 1 to 5 years | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 148,358 | 138,135 |
Financial investments | 5 to 10 years | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 61,605 | 64,262 |
Financial investments | Over 10 years | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 70,001 | 66,093 |
HSBC Holdings | ||
Disclosure of financial assets [line items] | ||
Financial assets | 102,237 | 93,215 |
HSBC Holdings | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 17,485 | 16,106 |
HSBC Holdings | Debt securities measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | 17,485 | 16,106 |
HSBC Holdings | Debt securities measured at amortised cost | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 6,544 | 6,025 |
HSBC Holdings | Debt securities measured at amortised cost | Not later than one year | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 3,767 | 3,010 |
HSBC Holdings | Debt securities measured at amortised cost | 1 to 5 years | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 2,777 | 3,015 |
HSBC Holdings | Debt securities measured at amortised cost | 5 to 10 years | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 0 | 0 |
HSBC Holdings | Debt securities measured at amortised cost | Over 10 years | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 0 | 0 |
HSBC Holdings | Financial investments | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 6,544 | 6,025 |
HSBC Holdings | Financial investments | Not later than one year | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 3,767 | 3,010 |
HSBC Holdings | Financial investments | 1 to 5 years | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 2,777 | 3,015 |
HSBC Holdings | Financial investments | 5 to 10 years | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 0 | 0 |
HSBC Holdings | Financial investments | Over 10 years | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 0 | $ 0 |
Financial Investments - HSBC _4
Financial Investments - HSBC Holdings, Contractual maturities and weighted average yields of investment debt securities (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of financial assets [line items] | ||
Amortised cost | $ 481,874 | $ 436,959 |
Financial assets | 2,880,751 | 2,621,427 |
Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | 88,639 | 85,735 |
Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 88,639 | 85,735 |
Debt securities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 76,882 | |
Financial assets | 76,882 | 75,259 |
US Treasury | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 75,531 | 79,633 |
US Government agencies | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 19,851 | 26,356 |
US Government-sponsored entities | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 10,691 | 8,070 |
Not later than one year | Debt securities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 6,135 | |
Financial assets | 6,135 | 5,472 |
Not later than one year | US Treasury | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 3,769 | |
Yield | 0.10% | |
Not later than one year | US Government agencies | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 0 | |
Yield | 0.00% | |
Not later than one year | US Government-sponsored entities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 110 | |
Yield | 2.50% | |
1 to 5 years | Debt securities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 16,499 | |
Financial assets | 16,497 | 14,395 |
1 to 5 years | US Treasury | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 4,618 | |
Yield | 1.60% | |
1 to 5 years | US Government agencies | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 9 | |
Yield | 3.80% | |
1 to 5 years | US Government-sponsored entities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 258 | |
Yield | 2.70% | |
5 to 10 years | Debt securities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 19,437 | |
Financial assets | 19,439 | 21,431 |
5 to 10 years | US Treasury | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 3,003 | |
Yield | 2.00% | |
5 to 10 years | US Government agencies | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 13 | |
Yield | 4.50% | |
5 to 10 years | US Government-sponsored entities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 436 | |
Yield | 2.20% | |
Over 10 years | Debt securities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 34,811 | |
Financial assets | 34,812 | 33,961 |
Over 10 years | US Treasury | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 969 | |
Yield | 2.80% | |
Over 10 years | US Government agencies | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 7,084 | |
Yield | 2.60% | |
Over 10 years | US Government-sponsored entities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 1,112 | |
Yield | 3.30% | |
HSBC Holdings | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 17,485 | 16,106 |
Financial assets | 102,237 | 93,215 |
HSBC Holdings | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | 17,485 | 16,106 |
HSBC Holdings | Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 17,485 | 16,106 |
HSBC Holdings | Debt securities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | 6,544 | 6,025 |
HSBC Holdings | US Treasury | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 17,485 | 16,106 |
HSBC Holdings | US Government agencies | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 0 | 0 |
HSBC Holdings | US Government-sponsored entities | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 0 | 0 |
HSBC Holdings | Not later than one year | Debt securities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | 3,767 | |
Financial assets | 3,767 | 3,010 |
HSBC Holdings | Not later than one year | US Treasury | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 3,767 | |
Yield | 1.50% | |
HSBC Holdings | Not later than one year | US Government agencies | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 0 | |
Yield | 0.00% | |
HSBC Holdings | Not later than one year | US Government-sponsored entities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 0 | |
Yield | 0.00% | |
HSBC Holdings | 1 to 5 years | Debt securities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 2,777 | |
Financial assets | 2,777 | 3,015 |
HSBC Holdings | 1 to 5 years | US Treasury | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 2,777 | |
Yield | 0.30% | |
HSBC Holdings | 1 to 5 years | US Government agencies | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 0 | |
Yield | 0.00% | |
HSBC Holdings | 1 to 5 years | US Government-sponsored entities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 0 | |
Yield | 0.00% | |
HSBC Holdings | 5 to 10 years | Debt securities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 0 | |
Financial assets | 0 | 0 |
HSBC Holdings | 5 to 10 years | US Treasury | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 0 | |
Yield | 0.00% | |
HSBC Holdings | 5 to 10 years | US Government agencies | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 0 | |
Yield | 0.00% | |
HSBC Holdings | 5 to 10 years | US Government-sponsored entities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 0 | |
Yield | 0.00% | |
HSBC Holdings | Over 10 years | Debt securities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 0 | |
Financial assets | 0 | $ 0 |
HSBC Holdings | Over 10 years | US Treasury | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 0 | |
Yield | 0.00% | |
HSBC Holdings | Over 10 years | US Government agencies | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 0 | |
Yield | 0.00% | |
HSBC Holdings | Over 10 years | US Government-sponsored entities | Debt instruments measured at amortised cost | ||
Disclosure of financial assets [line items] | ||
Amortised cost | $ 0 | |
Yield | 0.00% |
Assets pledged, collateral re_3
Assets pledged, collateral received and assets transferred - Assets pledged and collateral received (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | $ 210,401 | $ 177,878 |
Financial assets pledged as collateral which the counterparty has the right to sell or repledge | 81,140 | 73,945 |
Assets accepted as collateral that can be sold or repledged in the absence of default | 447,101 | 468,798 |
Assets accepted as collateral and sold or repledged | 246,520 | 304,261 |
Trading assets | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral which the counterparty has the right to sell or repledge | 64,225 | 63,163 |
Financial investments | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral which the counterparty has the right to sell or repledge | 16,915 | 10,782 |
Treasury and other eligible bills | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 12,774 | 14,034 |
Loans and advances to banks | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 236 | 1,975 |
Loans and advances to customers | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 43,168 | 26,017 |
Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 67,312 | 60,995 |
Equity securities | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | 26,101 | 24,626 |
Other | ||
Disclosure of financial assets [line items] | ||
Financial assets pledged as collateral | $ 60,810 | $ 50,231 |
Assets pledged, collateral re_4
Assets pledged, collateral received and assets transferred - Transferred financial assets not qualifying for full derecognition and associated financial liabilities (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Repurchase agreements | ||
Disclosure of transferred financial assets that are not derecognised in their entirety [line items] | ||
Carrying amount of transferred assets | $ 52,413 | $ 45,831 |
Carrying amount of associated liabilities | 51,092 | 45,671 |
Fair value of transferred assets | ||
Fair value of associated liabilities | ||
Net position | ||
Securities lending agreements | ||
Disclosure of transferred financial assets that are not derecognised in their entirety [line items] | ||
Carrying amount of transferred assets | 38,364 | 35,122 |
Carrying amount of associated liabilities | 124 | 3,225 |
Fair value of transferred assets | ||
Fair value of associated liabilities | ||
Net position | ||
Other sales (recourse to transferred assets only) | ||
Disclosure of transferred financial assets that are not derecognised in their entirety [line items] | ||
Carrying amount of transferred assets | 3,564 | 2,971 |
Carrying amount of associated liabilities | 3,478 | 2,885 |
Fair value of transferred assets | 3,619 | 2,974 |
Fair value of associated liabilities | 3,564 | 2,897 |
Net position | $ 55 | $ 77 |
Interest in associates and jo_3
Interest in associates and joint ventures - Carrying amount of interests in associates and joint ventures (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Interests In Other Entities [Abstract] | |||
Interests in associates | $ 26,594 | $ 24,384 | |
Interests in joint ventures | 90 | 90 | |
Interests in associates and joint ventures | $ 26,684 | $ 24,474 | $ 22,407 |
Interest in associates and jo_4
Interest in associates and joint ventures - Principal associates of HSBC (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 03, 2020 | Nov. 30, 2020 | Dec. 31, 2020 | Jun. 30, 2019 | Dec. 31, 2020 | Dec. 02, 2020 | Sep. 30, 2020 | Dec. 31, 2019 | Sep. 30, 2019 |
Disclosure of associates [line items] | ||||||||||
Carrying amount | $ 26,594 | $ 26,594 | $ 26,594 | $ 24,384 | ||||||
Bank of Communications Co., Limited | ||||||||||
Disclosure of associates [line items] | ||||||||||
Carrying amount | 21,248 | 21,248 | 21,248 | $ 21,248 | 18,982 | $ 18,982 | ||||
Fair value | $ 7,457 | 7,457 | $ 7,457 | 10,054 | ||||||
HSBC’s interest percent | 19.03% | 19.03% | ||||||||
The Saudi British Bank | ||||||||||
Disclosure of associates [line items] | ||||||||||
Carrying amount | $ 4,215 | 4,215 | $ 4,215 | 4,370 | ||||||
Fair value | $ 4,197 | $ 4,197 | $ 4,197 | $ 5,550 | ||||||
HSBC’s interest percent | 31.00% | 31.00% | 29.20% | 31.00% | 40.00% | 30.99% | 29.20% |
Interest in associates and jo_5
Interest in associates and joint ventures - Impairment testing (Details) - USD ($) | 12 Months Ended | |||
Dec. 31, 2020 | Sep. 30, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | |
Disclosure of associates [line items] | ||||
Carrying amount | $ 26,594,000,000 | $ 24,384,000,000 | ||
BoCom | ||||
Disclosure of associates [line items] | ||||
Period for which the fair value was below carrying amount (in months) | 9 years | |||
Impairment loss | $ 0 | |||
VIU | 21,800,000,000 | 21,500,000,000 | ||
Carrying amount | 21,248,000,000 | $ 21,248,000,000 | 18,982,000,000 | $ 18,982,000,000 |
Fair value | 7,457,000,000 | $ 10,054,000,000 | ||
Decrease in difference between VIU and carrying value of associates | $ 1,900,000,000 |
Interest in associates and jo_6
Interest in associates and joint ventures - Key assumptions in value in use calculation (Details) - Bank of Communications Co., Limited | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
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 | 11.37% | 11.24% |
Expected credit losses as a percentage of customer advances in the short to medium term | 0.95% | |
Expected credit losses as a percentage of customer advances in the long term | 0.88% | 0.76% |
Risk-weighted assets as a percentage of total assets in the short to medium term | 61.00% | |
Risk-weighted assets as a percentage of total assets in the long term | 61.00% | 61.00% |
Effective tax rate in the long-term | 16.80% | 22.50% |
Capital adequacy ratio | 11.50% | 11.50% |
Tier 1 capital adequacy ratio | 9.50% | 9.50% |
Long-term profit growth rate | ||
Disclosure of associates [line items] | ||
Changes to key assumptions to reduce headroom to nil | 0.22% | |
Long-term asset growth rate | ||
Disclosure of associates [line items] | ||
Changes to key assumptions to reduce headroom to nil | 0.20% | |
Discount rate | ||
Disclosure of associates [line items] | ||
Changes to key assumptions to reduce headroom to nil | 0.26% | |
Expected credit losses as a percentage of customer advances | ||
Disclosure of associates [line items] | ||
Changes to key assumptions to reduce headroom to nil | 0.03% | |
Risk-weighted assets as a percentage of total assets | ||
Disclosure of associates [line items] | ||
Changes to key assumptions to reduce headroom to nil | 1.36% | |
Operating income growth rate | ||
Disclosure of associates [line items] | ||
Changes to key assumptions to reduce headroom to nil | 0.28% | |
Cost-income ratio | ||
Disclosure of associates [line items] | ||
Changes to key assumptions to reduce headroom to nil | 0.77% | |
Long-term effective tax rate | ||
Disclosure of associates [line items] | ||
Changes to key assumptions to reduce headroom to nil | 2.16% | |
Capital requirements – capital adequacy ratio | ||
Disclosure of associates [line items] | ||
Changes to key assumptions to reduce headroom to nil | 0.26% | |
Capital requirements – tier 1 capital adequacy ratio | ||
Disclosure of associates [line items] | ||
Changes to key assumptions to reduce headroom to nil | 0.90% | |
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 | 0.98% | |
Risk-weighted assets as a percentage of total assets in the short to medium term | 61.00% | |
Operating income ratio | 3.50% | 4.90% |
Cost-income ratio | 36.30% | 37.10% |
Effective tax rate in the short to medium-term | 7.80% | 12.00% |
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 | 1.22% | |
Risk-weighted assets as a percentage of total assets in the short to medium term | 62.00% | |
Operating income ratio | 6.70% | 9.40% |
Cost-income ratio | 36.80% | 38.80% |
Effective tax rate in the short to medium-term | 16.50% | 17.00% |
Interest in associates and jo_7
Interest in associates and joint ventures - Sensitivity of VIU (Details) - Bank of Communications Co., Limited - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Bottom of range | ||
Disclosure of associates [line items] | ||
Value in use of investments in associates after reasonably possible changes in key assumptions | $ 18,200 | $ 18,500 |
Top of range | ||
Disclosure of associates [line items] | ||
Value in use of investments in associates after reasonably possible changes in key assumptions | $ 24,200 | $ 22,800 |
Long-term profit growth rate | ||
Disclosure of associates [line items] | ||
Change in bps due to reasonably possible favourable changes in key assumptions | 0.00% | 0.00% |
Change in VIU due to reasonably possible favourable changes in key assumptions | $ 0 | $ 0 |
VIU after reasonably possible favourable changes in key assumptions | $ 21,800 | $ 21,500 |
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 | $ (1,300) | $ (1,300) |
VIU after reasonably possible unfavourable changes in key assumptions | $ 20,500 | $ 20,200 |
Change in bps due to reasonably possible favourable changes in key assumptions | 0.00% | 0.00% |
Change in bps due to reasonably possible unfavourable changes in key assumptions | (0.50%) | (0.50%) |
VIU after reasonably possible unfavourable changes in key assumptions | $ 20,500 | $ 20,200 |
Long-term asset growth rate | ||
Disclosure of associates [line items] | ||
Change in bps due to reasonably possible favourable changes in key assumptions | (0.50%) | (0.50%) |
Change in VIU due to reasonably possible favourable changes in key assumptions | $ 1,400 | $ 1,400 |
VIU after reasonably possible favourable changes in key assumptions | $ 23,200 | $ 22,900 |
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 | $ 21,800 | $ 21,500 |
Change in bps due to reasonably possible favourable changes in key assumptions | (0.50%) | (0.50%) |
Change in bps due to reasonably possible unfavourable changes in key assumptions | 0.00% | 0.00% |
VIU after reasonably possible unfavourable changes in key assumptions | $ 21,800 | $ 21,500 |
Discount rate | ||
Disclosure of associates [line items] | ||
Change in bps due to reasonably possible favourable changes in key assumptions | 0.00% | (0.54%) |
Change in VIU due to reasonably possible favourable changes in key assumptions | $ 1,200 | $ 1,400 |
VIU after reasonably possible favourable changes in key assumptions | $ 23,000 | $ 22,900 |
Change in bps due to reasonably possible unfavourable changes in key assumptions | 0.53% | 0.56% |
Change in VIU due to reasonably possible unfavourable changes in key assumptions | $ (1,200) | $ (1,200) |
VIU after reasonably possible unfavourable changes in key assumptions | $ 20,600 | $ 20,300 |
Change in bps due to reasonably possible favourable changes in key assumptions | 0.00% | (0.54%) |
Change in bps due to reasonably possible unfavourable changes in key assumptions | 0.53% | 0.56% |
VIU after reasonably possible unfavourable changes in key assumptions | $ 20,600 | $ 20,300 |
Expected credit losses as a percentage of customer advances | ||
Disclosure of associates [line items] | ||
Change in VIU due to reasonably possible favourable changes in key assumptions | 2,300 | 1,000 |
VIU after reasonably possible favourable changes in key assumptions | 24,100 | 22,500 |
Change in VIU due to reasonably possible unfavourable changes in key assumptions | (2,100) | (1,200) |
VIU after reasonably possible unfavourable changes in key assumptions | 19,700 | 20,300 |
VIU after reasonably possible unfavourable changes in key assumptions | $ 19,700 | $ 20,300 |
Expected credit losses as a percentage of customer advances | Not later than four years | ||
Disclosure of associates [line items] | ||
Change in bps due to reasonably possible favourable changes in key assumptions | 0.96% | 0.90% |
Change in bps due to reasonably possible unfavourable changes in key assumptions | 1.22% | 1.08% |
Change in bps due to reasonably possible favourable changes in key assumptions | 0.96% | 0.90% |
Change in bps due to reasonably possible unfavourable changes in key assumptions | 1.22% | 1.08% |
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 | 0.76% | 0.70% |
Change in bps due to reasonably possible unfavourable changes in key assumptions | 0.95% | 0.81% |
Change in bps due to reasonably possible favourable changes in key assumptions | 0.76% | 0.70% |
Change in bps due to reasonably possible unfavourable changes in key assumptions | 0.95% | 0.81% |
Risk-weighted assets as a percentage of total assets | ||
Disclosure of associates [line items] | ||
Change in bps due to reasonably possible favourable changes in key assumptions | (0.40%) | (0.96%) |
Change in VIU due to reasonably possible favourable changes in key assumptions | $ 100 | $ 400 |
VIU after reasonably possible favourable changes in key assumptions | $ 21,900 | $ 21,900 |
Change in bps due to reasonably possible unfavourable changes in key assumptions | 1.66% | 0.12% |
Change in VIU due to reasonably possible unfavourable changes in key assumptions | $ (800) | $ 0 |
VIU after reasonably possible unfavourable changes in key assumptions | $ 21,000 | $ 21,500 |
Change in bps due to reasonably possible favourable changes in key assumptions | (0.40%) | (0.96%) |
Change in bps due to reasonably possible unfavourable changes in key assumptions | 1.66% | 0.12% |
VIU after reasonably possible unfavourable changes in key assumptions | $ 21,000 | $ 21,500 |
Operating income growth rate | ||
Disclosure of associates [line items] | ||
Change in bps due to reasonably possible favourable changes in key assumptions | 0.02% | 0.14% |
Change in VIU due to reasonably possible favourable changes in key assumptions | $ 200 | $ 0 |
VIU after reasonably possible favourable changes in key assumptions | $ 22,000 | $ 21,800 |
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 | $ (1,500) | $ (1,800) |
VIU after reasonably possible unfavourable changes in key assumptions | $ 20,300 | $ 19,700 |
Change in bps due to reasonably possible favourable changes in key assumptions | 0.02% | 0.14% |
Change in bps due to reasonably possible unfavourable changes in key assumptions | (0.69%) | (1.02%) |
VIU after reasonably possible unfavourable changes in key assumptions | $ 20,300 | $ 19,700 |
Cost-income ratio | ||
Disclosure of associates [line items] | ||
Change in bps due to reasonably possible favourable changes in key assumptions | (1.49%) | (1.75%) |
Change in VIU due to reasonably possible favourable changes in key assumptions | $ 1,300 | $ 1,000 |
VIU after reasonably possible favourable changes in key assumptions | $ 23,100 | $ 22,500 |
Change in bps due to reasonably possible unfavourable changes in key assumptions | 1.20% | 0.95% |
Change in VIU due to reasonably possible unfavourable changes in key assumptions | $ (1,200) | $ (1,200) |
VIU after reasonably possible unfavourable changes in key assumptions | $ 20,600 | $ 20,300 |
Change in bps due to reasonably possible favourable changes in key assumptions | (1.49%) | (1.75%) |
Change in bps due to reasonably possible unfavourable changes in key assumptions | 1.20% | 0.95% |
VIU after reasonably possible unfavourable changes in key assumptions | $ 20,600 | $ 20,300 |
Long-term effective tax rate | ||
Disclosure of associates [line items] | ||
Change in bps due to reasonably possible favourable changes in key assumptions | (3.16%) | (3.52%) |
Change in VIU due to reasonably possible favourable changes in key assumptions | $ 900 | $ 1,000 |
VIU after reasonably possible favourable changes in key assumptions | $ 22,700 | $ 22,500 |
Change in bps due to reasonably possible unfavourable changes in key assumptions | 8.20% | 2.50% |
Change in VIU due to reasonably possible unfavourable changes in key assumptions | $ (2,200) | $ (700) |
VIU after reasonably possible unfavourable changes in key assumptions | $ 19,600 | $ 20,800 |
Change in bps due to reasonably possible favourable changes in key assumptions | (3.16%) | (3.52%) |
Change in bps due to reasonably possible unfavourable changes in key assumptions | 8.20% | 2.50% |
VIU after reasonably possible unfavourable changes in key assumptions | $ 19,600 | $ 20,800 |
Capital requirements – capital adequacy ratio | ||
Disclosure of associates [line items] | ||
Change in bps due to reasonably possible favourable changes in key assumptions | 0.00% | 0.00% |
Change in VIU due to reasonably possible favourable changes in key assumptions | $ 0 | $ 0 |
VIU after reasonably possible favourable changes in key assumptions | $ 21,800 | $ 21,500 |
Change in bps due to reasonably possible unfavourable changes in key assumptions | 2.97% | 3.37% |
Change in VIU due to reasonably possible unfavourable changes in key assumptions | $ (7,800) | $ (8,200) |
VIU after reasonably possible unfavourable changes in key assumptions | $ 14,000 | $ 13,300 |
Change in bps due to reasonably possible favourable changes in key assumptions | 0.00% | 0.00% |
Change in bps due to reasonably possible unfavourable changes in key assumptions | 2.97% | 3.37% |
VIU after reasonably possible unfavourable changes in key assumptions | $ 14,000 | $ 13,300 |
Capital requirements – tier 1 capital adequacy ratio | ||
Disclosure of associates [line items] | ||
Change in bps due to reasonably possible favourable changes in key assumptions | 0.00% | 0.00% |
Change in VIU due to reasonably possible favourable changes in key assumptions | $ 0 | $ 0 |
VIU after reasonably possible favourable changes in key assumptions | $ 21,800 | $ 21,500 |
Change in bps due to reasonably possible unfavourable changes in key assumptions | 2.63% | 3.22% |
Change in VIU due to reasonably possible unfavourable changes in key assumptions | $ (5,300) | $ (6,000) |
VIU after reasonably possible unfavourable changes in key assumptions | $ 16,500 | $ 15,500 |
Change in bps due to reasonably possible favourable changes in key assumptions | 0.00% | 0.00% |
Change in bps due to reasonably possible unfavourable changes in key assumptions | 2.63% | 3.22% |
VIU after reasonably possible unfavourable changes in key assumptions | $ 16,500 | $ 15,500 |
Interest in associates and jo_8
Interest in associates and joint ventures - Selected balance sheet information of BoCom (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Sep. 30, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of associates [line items] | ||||||
Cash and balances at central banks | $ 304,481 | $ 154,099 | $ 162,843 | |||
Loans and advances to banks and other financial institutions | 81,616 | 69,203 | ||||
Loans and advances to customers | 1,037,987 | 1,036,743 | 981,696 | |||
Other financial assets | 12,399 | 12,006 | ||||
Total assets | 2,984,164 | 2,715,152 | 2,558,124 | |||
Deposits by banks and other financial institutions | 82,080 | 59,022 | ||||
Customer accounts | 1,642,780 | 1,439,115 | 1,362,643 | |||
Other liabilities | 22,721 | 18,844 | ||||
Total liabilities | 2,779,169 | 2,522,484 | ||||
Total equity | $ 204,995 | $ 192,668 | $ 194,249 | $ 196,224 | ||
Bank of Communications Co., Limited | ||||||
Disclosure of associates [line items] | ||||||
Cash and balances at central banks | $ 121,987 | $ 112,239 | ||||
Loans and advances to banks and other financial institutions | 107,334 | 108,026 | ||||
Loans and advances to customers | 870,728 | 730,510 | ||||
Other financial assets | 508,328 | 435,740 | ||||
Other assets | 44,622 | 40,101 | ||||
Total assets | 1,652,999 | 1,426,616 | ||||
Deposits by banks and other financial institutions | 273,708 | 290,492 | ||||
Customer accounts | 1,012,732 | 868,627 | ||||
Other financial liabilities | 207,110 | 131,772 | ||||
Other liabilities | 31,105 | 23,074 | ||||
Total liabilities | 1,524,655 | 1,313,965 | ||||
Total equity | $ 128,344 | $ 112,651 |
Interest in associates and jo_9
Interest in associates and joint ventures - Reconciliation of BoCom's total shareholders' equity to carrying amount (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Sep. 30, 2020 | Dec. 31, 2019 | Sep. 30, 2019 |
Disclosure of associates [line items] | ||||
Goodwill and other intangible assets | $ 20,443 | $ 20,163 | ||
Carrying amount | 26,594 | 24,384 | ||
Bank of Communications Co., Limited | ||||
Disclosure of associates [line items] | ||||
HSBC’s share of total shareholders’ equity | $ 20,743 | $ 18,509 | ||
Goodwill and other intangible assets | 505 | 473 | ||
Carrying amount | $ 21,248 | $ 21,248 | $ 18,982 | $ 18,982 |
Interest in associates and j_10
Interest in associates and joint ventures - Selected income statement information of BoCom (Details) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2020 | Sep. 30, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Dec. 31, 2018 | |
Disclosure of associates [line items] | |||||
Net interest income | $ 27,578 | $ 30,462 | $ 30,489 | ||
Net fee and commission income | 11,874 | 12,023 | 12,620 | ||
Change in expected credit losses and other credit impairment charges | (8,817) | (2,756) | (1,767) | ||
Tax expense | (2,678) | (4,639) | (4,865) | ||
Profit for the year | 6,099 | 8,708 | 15,025 | ||
Other comprehensive income | 8,409 | 1,017 | (4,670) | ||
Total comprehensive income for the year | 14,508 | 9,725 | 10,355 | ||
Dividends received from BoCom | $ 1,158 | $ 2,369 | $ 1,702 | ||
Bank of Communications Co., Limited | |||||
Disclosure of associates [line items] | |||||
Net interest income | $ 21,994 | $ 20,558 | |||
Net fee and commission income | 6,398 | 6,411 | |||
Change in expected credit losses and other credit impairment charges | (9,698) | (7,479) | |||
Depreciation and amortisation | (2,072) | (1,934) | |||
Tax expense | (858) | (1,636) | |||
Profit for the year | 10,261 | 11,175 | |||
Other comprehensive income | (769) | 315 | |||
Total comprehensive income for the year | 9,492 | 11,490 | |||
Dividends received from BoCom | $ 633 | $ 613 |
Interest in associates and j_11
Interest in associates and joint ventures - The Saudi British Bank information (Details) - USD ($) | Dec. 31, 2020 | Dec. 03, 2020 | Nov. 30, 2020 | Dec. 31, 2020 | Jun. 30, 2019 | Dec. 31, 2020 | Dec. 02, 2020 | Dec. 31, 2019 |
Disclosure of associates [line items] | ||||||||
Interests in associates | $ 26,594,000,000 | $ 26,594,000,000 | $ 26,594,000,000 | $ 24,384,000,000 | ||||
The Saudi British Bank | ||||||||
Disclosure of associates [line items] | ||||||||
HSBC’s interest percent | 31.00% | 31.00% | 29.20% | 31.00% | 40.00% | 30.99% | 29.20% | |
Fair value | $ 4,197,000,000 | $ 4,197,000,000 | $ 4,197,000,000 | 5,550,000,000 | ||||
Interests in associates | 4,215,000,000 | 4,215,000,000 | 4,215,000,000 | $ 4,370,000,000 | ||||
Impairment loss | 0 | |||||||
VIU | $ 4,740,000,000 | $ 4,740,000,000 | $ 4,740,000,000 | |||||
Long-term profit growth rate | 2.85% | 2.85% | 2.85% | |||||
Long-term asset growth rate | 2.85% | 2.85% | 2.85% | |||||
Discount rate | 10.40% | 10.40% | 10.40% | |||||
Impairment loss | $ 0 | |||||||
VIU | $ 4,740,000,000 | $ 4,740,000,000 | $ 4,740,000,000 | |||||
Long-term profit growth rate | 2.85% | 2.85% | 2.85% | |||||
Long-term asset growth rate | 2.85% | 2.85% | 2.85% | |||||
Discount rate | 10.40% | 10.40% | 10.40% | |||||
The Saudi British Bank | Cash flow projections | ||||||||
Disclosure of associates [line items] | ||||||||
Impairment loss | $ 200,000,000 | |||||||
Change in key assumptions resulting in impairment loss | 15.00% | |||||||
Impairment loss | $ 200,000,000 | |||||||
The Saudi British Bank | Discount rate | ||||||||
Disclosure of associates [line items] | ||||||||
Change in key assumptions resulting in impairment loss | 1.00% |
Investments in subsidiaries - P
Investments in subsidiaries - Principal subsidiaries of HSBC Holdings (Details) | Feb. 01, 2021 | Dec. 31, 2020£ / shares | Dec. 31, 2020$ / shares | Dec. 31, 2020€ / shares | Dec. 31, 2020$ / shares | Dec. 31, 2020¥ / shares | Dec. 31, 2020RM / shares | Dec. 31, 2020$ / shares |
HSBC Bank plc | ||||||||
Disclosure of subsidiaries [line items] | ||||||||
Proportion of ownership interest in subsidiary | 100.00% | |||||||
HSBC UK Bank plc | ||||||||
Disclosure of subsidiaries [line items] | ||||||||
Proportion of ownership interest in subsidiary | 100.00% | |||||||
HSBC Trinkaus & Burkhardt AG1 | ||||||||
Disclosure of subsidiaries [line items] | ||||||||
Proportion of ownership interest in subsidiary | 99.33% | |||||||
Hang Seng Bank Limited | ||||||||
Disclosure of subsidiaries [line items] | ||||||||
Proportion of ownership interest in subsidiary | 62.14% | |||||||
HSBC Bank (China) Company Limited | ||||||||
Disclosure of subsidiaries [line items] | ||||||||
Proportion of ownership interest in subsidiary | 100.00% | |||||||
HSBC Bank Malaysia Berhad | ||||||||
Disclosure of subsidiaries [line items] | ||||||||
Proportion of ownership interest in subsidiary | 100.00% | |||||||
HSBC Life (International) Limited | ||||||||
Disclosure of subsidiaries [line items] | ||||||||
Proportion of ownership interest in subsidiary | 100.00% | |||||||
The Hongkong and Shanghai Banking Corporation Limited | ||||||||
Disclosure of subsidiaries [line items] | ||||||||
Proportion of ownership interest in subsidiary | 100.00% | |||||||
HSBC Bank Middle East Limited | ||||||||
Disclosure of subsidiaries [line items] | ||||||||
Proportion of ownership interest in subsidiary | 100.00% | |||||||
HSBC Bank Canada | ||||||||
Disclosure of subsidiaries [line items] | ||||||||
Proportion of ownership interest in subsidiary | 100.00% | |||||||
HSBC Holdings | HSBC Bank plc | ||||||||
Disclosure of subsidiaries [line items] | ||||||||
Proportion of ownership interest in subsidiary | 100.00% | |||||||
HSBC Holdings | HSBC UK Bank plc | ||||||||
Disclosure of subsidiaries [line items] | ||||||||
Proportion of ownership interest in subsidiary | 100.00% | |||||||
HSBC Holdings | HSBC Continental Europe | ||||||||
Disclosure of subsidiaries [line items] | ||||||||
Proportion of ownership interest in subsidiary | 99.99% | |||||||
Par value per share (in dollars per share) | € / shares | € 5 | |||||||
HSBC Holdings | HSBC Trinkaus & Burkhardt AG1 | ||||||||
Disclosure of subsidiaries [line items] | ||||||||
Proportion of ownership interest in subsidiary | 99.33% | |||||||
HSBC Holdings | Hang Seng Bank Limited | ||||||||
Disclosure of subsidiaries [line items] | ||||||||
Proportion of ownership interest in subsidiary | 62.14% | |||||||
HSBC Holdings | HSBC Bank (China) Company Limited | ||||||||
Disclosure of subsidiaries [line items] | ||||||||
Proportion of ownership interest in subsidiary | 100.00% | |||||||
HSBC Holdings | HSBC Bank Malaysia Berhad | ||||||||
Disclosure of subsidiaries [line items] | ||||||||
Proportion of ownership interest in subsidiary | 100.00% | |||||||
HSBC Holdings | HSBC Life (International) Limited | ||||||||
Disclosure of subsidiaries [line items] | ||||||||
Proportion of ownership interest in subsidiary | 100.00% | |||||||
HSBC Holdings | The Hongkong and Shanghai Banking Corporation Limited | ||||||||
Disclosure of subsidiaries [line items] | ||||||||
Proportion of ownership interest in subsidiary | 100.00% | |||||||
HSBC Holdings | HSBC Bank Middle East Limited | ||||||||
Disclosure of subsidiaries [line items] | ||||||||
Proportion of ownership interest in subsidiary | 100.00% | |||||||
HSBC Holdings | HSBC Bank Canada | ||||||||
Disclosure of subsidiaries [line items] | ||||||||
Proportion of ownership interest in subsidiary | 100.00% | |||||||
HSBC Holdings | HSBC Bank USA, N.A. | ||||||||
Disclosure of subsidiaries [line items] | ||||||||
Proportion of ownership interest in subsidiary | 100.00% | |||||||
HSBC Holdings | HSBC Mexico, S.A., Institución de Banca Múltiple, Grupo Financiero HSBC | ||||||||
Disclosure of subsidiaries [line items] | ||||||||
Proportion of ownership interest in subsidiary | 99.99% | |||||||
HSBC Holdings | Major business combination | HSBC Trinkaus & Burkhardt AG1 | ||||||||
Disclosure of subsidiaries [line items] | ||||||||
Proportion of ownership interest in subsidiary | 100.00% | |||||||
Ordinary shares | ||||||||
Disclosure of subsidiaries [line items] | ||||||||
Par value per share (in dollars per share) | $ 0.50 | |||||||
Ordinary shares | HSBC Holdings | HSBC Bank plc | ||||||||
Disclosure of subsidiaries [line items] | ||||||||
Par value per share (in dollars per share) | £ / shares | £ 1 | |||||||
Ordinary shares | HSBC Holdings | HSBC UK Bank plc | ||||||||
Disclosure of subsidiaries [line items] | ||||||||
Par value per share (in dollars per share) | £ / shares | £ 1 | |||||||
Ordinary shares | HSBC Holdings | Hang Seng Bank Limited | ||||||||
Disclosure of subsidiaries [line items] | ||||||||
Par value per share (in dollars per share) | $ 5 | |||||||
Ordinary shares | HSBC Holdings | HSBC Bank (China) Company Limited | ||||||||
Disclosure of subsidiaries [line items] | ||||||||
Par value per share (in dollars per share) | ¥ / shares | ¥ 1 | |||||||
Ordinary shares | HSBC Holdings | HSBC Bank Malaysia Berhad | ||||||||
Disclosure of subsidiaries [line items] | ||||||||
Par value per share (in dollars per share) | RM / shares | RM 0.5 | |||||||
Ordinary shares | HSBC Holdings | HSBC Life (International) Limited | ||||||||
Disclosure of subsidiaries [line items] | ||||||||
Par value per share (in dollars per share) | $ 1 | |||||||
Ordinary shares | HSBC Holdings | HSBC Bank Middle East Limited | ||||||||
Disclosure of subsidiaries [line items] | ||||||||
Par value per share (in dollars per share) | 1 | |||||||
Ordinary shares | HSBC Holdings | HSBC Bank USA, N.A. | ||||||||
Disclosure of subsidiaries [line items] | ||||||||
Par value per share (in dollars per share) | 100 | |||||||
Ordinary shares | HSBC Holdings | HSBC Mexico, S.A., Institución de Banca Múltiple, Grupo Financiero HSBC | ||||||||
Disclosure of subsidiaries [line items] | ||||||||
Par value per share (in dollars per share) | $ 2 | |||||||
Non-cumulative third dollar preference shares | HSBC Holdings | HSBC Bank plc | ||||||||
Disclosure of subsidiaries [line items] | ||||||||
Par value per share (in dollars per share) | 0.01 | |||||||
Cumulative redeemable preference shares | HSBC Holdings | HSBC Bank Middle East Limited | ||||||||
Disclosure of subsidiaries [line items] | ||||||||
Par value per share (in dollars per share) | 1 | |||||||
Preference shares | ||||||||
Disclosure of subsidiaries [line items] | ||||||||
Par value per share (in dollars per share) | 0.01 | |||||||
Preference shares | HSBC Holdings | HSBC Bank USA, N.A. | ||||||||
Disclosure of subsidiaries [line items] | ||||||||
Par value per share (in dollars per share) | $ 0.01 |
Investments in subsidiaries - I
Investments in subsidiaries - Investments in subsidiaries (commentary) (Details) - HSBC Holdings - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of subsidiaries [line items] | |||
Impairment (reversal of impairment) of subsidiaries | $ 435 | $ 2,562 | $ (2,064) |
HSBC Overseas Holdings (UK) Limited | |||
Disclosure of subsidiaries [line items] | |||
Impairment (reversal of impairment) of subsidiaries | $ 400 |
Investments in subsidiaries - S
Investments in subsidiaries - Subsidiaries with significant non-controlling interests (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of subsidiaries [line items] | |||
Profit attributable to non-controlling interests | $ 870 | $ 1,325 | $ 1,298 |
Accumulated non-controlling interests of the subsidiary | 8,552 | 8,713 | |
Summarised financial information: | |||
– total assets | 2,984,164 | 2,715,152 | 2,558,124 |
– total liabilities | 2,779,169 | 2,522,484 | |
– profit for the year | 6,099 | 8,708 | 15,025 |
– total comprehensive income for the year | $ 14,508 | $ 9,725 | $ 10,355 |
Hang Seng Bank Limited | |||
Disclosure of subsidiaries [line items] | |||
Proportion of ownership interests and voting rights held by non-controlling interests | 37.86% | 37.86% | |
Profit attributable to non-controlling interests | $ 843 | $ 1,229 | |
Accumulated non-controlling interests of the subsidiary | 7,604 | 7,262 | |
Dividends paid to non-controlling interests | 625 | 720 | |
Summarised financial information: | |||
– total assets | 224,483 | 212,485 | |
– total liabilities | 202,907 | 191,819 | |
– net operating income before changes in expected credit losses and other credit impairment charges | 4,568 | 5,558 | |
– profit for the year | 2,230 | 3,251 | |
– total comprehensive income for the year | $ 2,535 | $ 3,461 |
Structured entities - Total ass
Structured entities - Total assets of consolidated structured entities by entity type (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of information about consolidated structured entities [line items] | |||
Total assets | $ 2,984,164 | $ 2,715,152 | $ 2,558,124 |
Total | |||
Disclosure of information about consolidated structured entities [line items] | |||
Total assets | 34,700 | 31,700 | |
Conduits | |||
Disclosure of information about consolidated structured entities [line items] | |||
Total assets | 6,900 | 8,600 | |
Securitisations | |||
Disclosure of information about consolidated structured entities [line items] | |||
Total assets | 11,700 | 9,600 | |
HSBC managed funds | |||
Disclosure of information about consolidated structured entities [line items] | |||
Total assets | 5,300 | 6,800 | |
Other | |||
Disclosure of information about consolidated structured entities [line items] | |||
Total assets | $ 10,800 | $ 6,700 |
Structured entities - Conduits
Structured entities - Conduits (Details) $ in Billions | 12 Months Ended | |
Dec. 31, 2020USD ($)conduit | Dec. 31, 2019USD ($) | |
Disclosure of information about consolidated structured entities [line items] | ||
Number of conduit types | conduit | 2 | |
Securities investment conduits | Solitaire | ||
Disclosure of information about consolidated structured entities [line items] | ||
Asset backed securities | $ 1.9 | $ 2.1 |
Commercial paper held by HSBC | 2.1 | 3.2 |
Multi-seller conduit | ||
Disclosure of information about consolidated structured entities [line items] | ||
Maximum exposure | $ 9.6 | $ 12.4 |
Structured entities - Nature an
Structured entities - Nature and risks associated with interests in unconsolidated structured entities (Details) $ in Millions | Dec. 31, 2020USD ($)entity | Dec. 31, 2019USD ($)entity | Dec. 31, 2018USD ($) |
Disclosure of unconsolidated structured entities [line items] | |||
Trading assets | $ 231,990 | $ 254,271 | |
– financial assets designated and otherwise mandatorily measured at fair value | 45,553 | 43,627 | |
– loans and advances to customers | 1,037,987 | 1,036,743 | $ 981,696 |
– financial investments | 20,151 | 14,830 | |
– other liabilities | $ 22,721 | $ 18,844 | |
Total | |||
Disclosure of unconsolidated structured entities [line items] | |||
Number of entities | entity | 3,485 | 2,489 | |
Total assets in relation to HSBC’s interests in the unconsolidated structured entities | $ 33,900 | $ 33,700 | |
Trading assets | 3,500 | 5,000 | |
– financial assets designated and otherwise mandatorily measured at fair value | 22,400 | 19,100 | |
– loans and advances to customers | 5,900 | 8,000 | |
– financial investments | 1,500 | 1,000 | |
– other assets | 600 | 600 | |
Total liabilities in relation to HSBC’s interests in the unconsolidated structured entities | 300 | 300 | |
– other liabilities | 300 | 300 | |
Other off-balance sheet commitments | 6,700 | 5,200 | |
HSBC's maximum exposure | $ 40,900 | $ 38,600 | |
Total | 0–500 | |||
Disclosure of unconsolidated structured entities [line items] | |||
Number of entities | entity | 1,855 | 1,067 | |
Total | 500–2,000 | |||
Disclosure of unconsolidated structured entities [line items] | |||
Number of entities | entity | 838 | 731 | |
Total | 2,000–5,000 | |||
Disclosure of unconsolidated structured entities [line items] | |||
Number of entities | entity | 421 | 373 | |
Total | 5,000–25,000 | |||
Disclosure of unconsolidated structured entities [line items] | |||
Number of entities | entity | 325 | 274 | |
Total | 25,000+ | |||
Disclosure of unconsolidated structured entities [line items] | |||
Number of entities | entity | 46 | 44 | |
Securitisations | |||
Disclosure of unconsolidated structured entities [line items] | |||
Number of entities | entity | 95 | 103 | |
Total assets in relation to HSBC’s interests in the unconsolidated structured entities | $ 4,400 | $ 5,300 | |
Trading assets | 0 | 0 | |
– financial assets designated and otherwise mandatorily measured at fair value | 0 | 0 | |
– loans and advances to customers | 4,400 | 5,300 | |
– financial investments | 0 | 0 | |
– other assets | 0 | 0 | |
Total liabilities in relation to HSBC’s interests in the unconsolidated structured entities | 0 | 0 | |
– other liabilities | 0 | 0 | |
Other off-balance sheet commitments | 100 | 300 | |
HSBC's maximum exposure | $ 4,500 | $ 5,600 | |
Securitisations | 0–500 | |||
Disclosure of unconsolidated structured entities [line items] | |||
Number of entities | entity | 86 | 91 | |
Securitisations | 500–2,000 | |||
Disclosure of unconsolidated structured entities [line items] | |||
Number of entities | entity | 9 | 12 | |
Securitisations | 2,000–5,000 | |||
Disclosure of unconsolidated structured entities [line items] | |||
Number of entities | entity | 0 | 0 | |
Securitisations | 5,000–25,000 | |||
Disclosure of unconsolidated structured entities [line items] | |||
Number of entities | entity | 0 | 0 | |
Securitisations | 25,000+ | |||
Disclosure of unconsolidated structured entities [line items] | |||
Number of entities | entity | 0 | 0 | |
HSBC managed funds | |||
Disclosure of unconsolidated structured entities [line items] | |||
Number of entities | entity | 437 | 351 | |
Total assets in relation to HSBC’s interests in the unconsolidated structured entities | $ 9,900 | $ 9,100 | |
Trading assets | 300 | 200 | |
– financial assets designated and otherwise mandatorily measured at fair value | 8,600 | 8,400 | |
– loans and advances to customers | 0 | 0 | |
– financial investments | 1,000 | 500 | |
– other assets | 0 | 0 | |
Total liabilities in relation to HSBC’s interests in the unconsolidated structured entities | 0 | 0 | |
– other liabilities | 0 | 0 | |
Other off-balance sheet commitments | 500 | 300 | |
HSBC's maximum exposure | $ 10,400 | $ 9,400 | |
HSBC managed funds | 0–500 | |||
Disclosure of unconsolidated structured entities [line items] | |||
Number of entities | entity | 292 | 236 | |
HSBC managed funds | 500–2,000 | |||
Disclosure of unconsolidated structured entities [line items] | |||
Number of entities | entity | 94 | 70 | |
HSBC managed funds | 2,000–5,000 | |||
Disclosure of unconsolidated structured entities [line items] | |||
Number of entities | entity | 32 | 28 | |
HSBC managed funds | 5,000–25,000 | |||
Disclosure of unconsolidated structured entities [line items] | |||
Number of entities | entity | 14 | 14 | |
HSBC managed funds | 25,000+ | |||
Disclosure of unconsolidated structured entities [line items] | |||
Number of entities | entity | 5 | 3 | |
Non-HSBC managed funds | |||
Disclosure of unconsolidated structured entities [line items] | |||
Number of entities | entity | 2,904 | 1,956 | |
Total assets in relation to HSBC’s interests in the unconsolidated structured entities | $ 17,500 | $ 15,100 | |
Trading assets | 3,200 | 3,500 | |
– financial assets designated and otherwise mandatorily measured at fair value | 13,800 | 10,700 | |
– loans and advances to customers | 0 | 400 | |
– financial investments | 500 | 500 | |
– other assets | 0 | 0 | |
Total liabilities in relation to HSBC’s interests in the unconsolidated structured entities | 0 | 0 | |
– other liabilities | 0 | 0 | |
Other off-balance sheet commitments | 4,900 | 3,900 | |
HSBC's maximum exposure | $ 22,400 | $ 19,000 | |
Non-HSBC managed funds | 0–500 | |||
Disclosure of unconsolidated structured entities [line items] | |||
Number of entities | entity | 1,430 | 670 | |
Non-HSBC managed funds | 500–2,000 | |||
Disclosure of unconsolidated structured entities [line items] | |||
Number of entities | entity | 733 | 642 | |
Non-HSBC managed funds | 2,000–5,000 | |||
Disclosure of unconsolidated structured entities [line items] | |||
Number of entities | entity | 389 | 345 | |
Non-HSBC managed funds | 5,000–25,000 | |||
Disclosure of unconsolidated structured entities [line items] | |||
Number of entities | entity | 311 | 260 | |
Non-HSBC managed funds | 25,000+ | |||
Disclosure of unconsolidated structured entities [line items] | |||
Number of entities | entity | 41 | 39 | |
Other | |||
Disclosure of unconsolidated structured entities [line items] | |||
Number of entities | entity | 49 | 79 | |
Total assets in relation to HSBC’s interests in the unconsolidated structured entities | $ 2,100 | $ 4,200 | |
Trading assets | 0 | 1,300 | |
– financial assets designated and otherwise mandatorily measured at fair value | 0 | 0 | |
– loans and advances to customers | 1,500 | 2,300 | |
– financial investments | 0 | 0 | |
– other assets | 600 | 600 | |
Total liabilities in relation to HSBC’s interests in the unconsolidated structured entities | 300 | 300 | |
– other liabilities | 300 | 300 | |
Other off-balance sheet commitments | 1,200 | 700 | |
HSBC's maximum exposure | $ 3,600 | $ 4,600 | |
Other | 0–500 | |||
Disclosure of unconsolidated structured entities [line items] | |||
Number of entities | entity | 47 | 70 | |
Other | 500–2,000 | |||
Disclosure of unconsolidated structured entities [line items] | |||
Number of entities | entity | 2 | 7 | |
Other | 2,000–5,000 | |||
Disclosure of unconsolidated structured entities [line items] | |||
Number of entities | entity | 0 | 0 | |
Other | 5,000–25,000 | |||
Disclosure of unconsolidated structured entities [line items] | |||
Number of entities | entity | 0 | 0 | |
Other | 25,000+ | |||
Disclosure of unconsolidated structured entities [line items] | |||
Number of entities | entity | 0 | 2 |
Goodwill and intangible asset_2
Goodwill and intangible assets - Goodwill and intangible assets (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Jan. 01, 2018 | |
Disclosure of detailed information about intangible assets [line items] | ||||
Goodwill and intangible assets | $ 20,443 | $ 20,163 | ||
Amortisation, intangible assets other than goodwill | 2,519 | 1,070 | $ 814 | |
Goodwill | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Goodwill and intangible assets | 5,881 | 5,590 | ||
Present value of in-force long-term insurance business | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Goodwill and intangible assets | 9,435 | 8,945 | $ 7,149 | |
Capitalisation, intangible assets other than goodwill | 776 | 1,225 | ||
Other intangible assets | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Goodwill and intangible assets | 5,127 | 5,628 | ||
Internally generated software | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Intangible assets | 4,452 | 4,829 | ||
Capitalisation, intangible assets other than goodwill | 1,934 | 2,086 | ||
Impairment loss recognised in profit or loss, intangible assets other than goodwill | 1,322 | 38 | ||
Amortisation, intangible assets other than goodwill | $ 1,085 | $ 947 |
Goodwill and intangible asset_3
Goodwill and intangible assets - Movement analysis of goodwill (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Reconciliation of changes in intangible assets and goodwill [abstract] | ||
Goodwill and intangible assets beginning balance | $ 20,163 | |
Goodwill and intangible assets ending balance | 20,443 | $ 20,163 |
Goodwill | ||
Reconciliation of changes in intangible assets and goodwill [abstract] | ||
Goodwill and intangible assets beginning balance | 5,590 | |
Goodwill and intangible assets ending balance | 5,881 | 5,590 |
Goodwill | Gross amount | ||
Reconciliation of changes in intangible assets and goodwill [abstract] | ||
Goodwill and intangible assets beginning balance | 22,084 | 22,180 |
Exchange differences | 967 | (154) |
Other | 84 | 58 |
Goodwill and intangible assets ending balance | 23,135 | 22,084 |
Goodwill | Accumulated impairment losses | ||
Reconciliation of changes in intangible assets and goodwill [abstract] | ||
Goodwill and intangible assets beginning balance | (16,494) | (9,194) |
Exchange differences | (719) | 49 |
Impairment losses | (41) | (7,349) |
Goodwill and intangible assets ending balance | $ (17,254) | $ (16,494) |
Goodwill and intangible asset_4
Goodwill and intangible assets - Key assumptions in VIU calculation (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Oct. 01, 2020 | Jul. 01, 2020 | Dec. 31, 2019 |
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||||
Goodwill and intangible assets | $ 20,443 | $ 20,163 | ||
Goodwill | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||||
Goodwill and intangible assets | $ 5,881 | 5,590 | ||
Europe | RBWM | Goodwill | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||||
Goodwill and intangible assets | $ 3,582 | $ 3,496 | $ 3,464 | |
Discount rate | 9.60% | 8.30% | 8.30% | |
Growth rate used to extrapolate cash flow projections | 1.90% | 3.20% | 1.70% | |
Goodwill | Goodwill | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||||
Goodwill and intangible assets | $ 2,059 | $ 2,938 | $ 2,126 |
Goodwill and intangible asset_5
Goodwill and intangible assets - Sensitivity of VIU to reasonably possible changes in key assumptions and changes to current assumptions to achieve nil headroom (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of information for cash-generating units [line items] | ||
Cash flow projections decrease by 30% | 30.00% | |
Discount rate increases by 100 bps | 1.00% | |
Goodwill | Allowance for ECL | ||
Disclosure of information for cash-generating units [line items] | ||
Impairment loss intangible assets | $ 41 | $ 7,349 |
Goodwill | Europe | RBWM | ||
Disclosure of information for cash-generating units [line items] | ||
Carrying amount | 11,100 | |
VIU | 16,400 | |
100 bps increase in the discount rate – single variable | (2,300) | |
30% decrease in cash flow projections – single variable | (6,000) | |
Cumulative impact of all changes | $ (7,600) | |
Discount rate – bps | 271.00% | |
Cash flows – % | (26.50%) |
Goodwill and intangible asset_6
Goodwill and intangible assets - Impairment testing (commentary) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Owned property, plant and equipment | $ 10,412 | $ 10,480 |
Right-of-use assets | $ 4,002 | $ 4,222 |
Increase (decrease) in discount rate | 1.00% | |
Increase (decrease) in cash flow projections | 30.00% | |
Corporate Centre | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Owned property, plant and equipment | $ 2,100 | |
Right-of-use assets | 600 | |
Computer software | 500 | |
Subsidiaries | HSBC Bank plc | Internally generated software | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Impairment loss intangible assets | $ 1,300 | |
Corporate Centre | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Increase (decrease) in discount rate | 1.10% | |
Increase (decrease) in cash flow projections | 12.00% | |
Bottom of range | Corporate Centre | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Amount by which unit's recoverable amount exceeds its carrying amount | $ 0 | |
Bottom of range | Europe | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Discount rate used in current measurement of fair value less costs of disposal | 8.50% | |
Bottom of range | Corporate Centre | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Discount rate used in current measurement of fair value less costs of disposal | 10.50% | |
Top of range | Corporate Centre | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Amount by which unit's recoverable amount exceeds its carrying amount | $ 27,500 | |
Top of range | Europe | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Discount rate used in current measurement of fair value less costs of disposal | 9.70% | |
Top of range | Corporate Centre | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Discount rate used in current measurement of fair value less costs of disposal | 11.60% |
Goodwill and intangible asset_7
Goodwill and intangible assets - Movements in present value in-force long-term insurance contracts (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Reconciliation of changes in intangible assets and goodwill [abstract] | ||
Goodwill and intangible assets beginning balance | $ 20,163 | |
Goodwill and intangible assets ending balance | 20,443 | $ 20,163 |
Present value of in-force long-term insurance business | ||
Reconciliation of changes in intangible assets and goodwill [abstract] | ||
Goodwill and intangible assets beginning balance | 8,945 | |
Change in PVIF of long-term insurance business | 382 | 1,749 |
– value of new business written during the year | 776 | 1,225 |
– expected return | (1,003) | (836) |
– assumption changes and experience variances | 604 | 1,378 |
– other adjustments | 5 | (18) |
Exchange differences and other movements | 108 | 47 |
Goodwill and intangible assets ending balance | $ 9,435 | $ 8,945 |
Goodwill and intangible asset_8
Goodwill and intangible assets - Assumption changes and experience adjustments (Details) - Present value of in-force long-term insurance business - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of detailed information about intangible assets [line items] | ||
Regulatory-driven changes | $ 132 | $ 1,126 |
Future sharing of returns with policyholders on contracts with discretionary features | 247 | 36 |
Other changes | $ 225 | $ 216 |
Goodwill and intangible asset_9
Goodwill and intangible assets - Key assumptions used in the computation of present value in-force long term insurance contracts (Details) - Present value of in-force long-term insurance business - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
– Hong Kong | ||
Disclosure of detailed information about intangible assets [line items] | ||
Weighted average risk-free rate | 0.71% | 1.84% |
Weighted average risk discount rate | 4.96% | 5.44% |
Expense inflation | 3.00% | 3.00% |
– France | ||
Disclosure of detailed information about intangible assets [line items] | ||
Weighted average risk-free rate | 0.34% | 0.44% |
Weighted average risk discount rate | 1.34% | 1.27% |
Expense inflation | 1.60% | 1.70% |
Risk discount rate | 1.34% | 1.27% |
Risk margin | $ 213 | $ 130 |
Prepayments, accrued income a_3
Prepayments, accrued income and other assets (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of financial assets [line items] | ||
Prepayments and accrued income | $ 8,114 | $ 9,057 |
Settlement accounts | 17,316 | 14,744 |
Cash collateral and margin receivables | 59,543 | 49,148 |
Assets held for sale | 299 | 123 |
Bullion | 20,151 | 14,830 |
Endorsements and acceptances | 10,278 | 10,198 |
Reinsurers’ share of liabilities under insurance contracts (Note 4) | 3,448 | 3,592 |
Employee benefit assets (Note 5) | 10,450 | 8,280 |
Right-of-use assets | 4,002 | 4,222 |
Owned property, plant and equipment | 10,412 | 10,480 |
Other accounts | 12,399 | 12,006 |
Prepayments, accrued income and other assets | 156,412 | 136,680 |
Financial assets at amortised cost | 481,874 | 436,959 |
Prepayments, accrued income and other assets | ||
Disclosure of financial assets [line items] | ||
Financial assets at amortised cost | $ 105,469 | $ 92,979 |
Trading liabilities - Summary o
Trading liabilities - Summary of trading liabilities (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of financial liabilities [line items] | ||
Financial liabilities | $ 2,655,014 | $ 2,409,361 |
Trading liabilities | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 75,266 | 83,170 |
Deposits by banks | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 82,080 | 59,022 |
Deposits by banks | Trading liabilities | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 6,689 | 4,187 |
Customer accounts | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 1,642,780 | 1,439,115 |
Customer accounts | Trading liabilities | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 10,681 | 6,999 |
Debt securities in issue | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 218,108 | 236,323 |
Debt securities in issue | Trading liabilities | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 1,582 | 1,404 |
Other liabilities – net short positions in securities | Trading liabilities | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | $ 56,314 | $ 70,580 |
Financial liabilties designat_3
Financial liabilties designated at fair value - Summary of Financial Liabilities at Fair Value (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of financial liabilities [line items] | ||
Financial liabilities | $ 2,655,014 | $ 2,409,361 |
Financial liabilities designated at fair value | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 157,439 | 164,466 |
Deposits by banks and customer accounts | Financial liabilities designated at fair value | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 19,176 | 17,660 |
Cash prime brokerage balances | Financial liabilities designated at fair value | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 3,889 | |
Liabilities to customers under investment contracts | Financial liabilities designated at fair value | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 6,385 | 5,893 |
Debt securities in issue | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 218,108 | 236,323 |
Debt securities in issue | Financial liabilities designated at fair value | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 121,034 | 130,364 |
Subordinated liabilities | Financial liabilities designated at fair value | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 10,844 | 10,130 |
Preferred securities | Financial liabilities designated at fair value | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 0 | 419 |
Subordinated liabilities | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 32,795 | 35,149 |
Subordinated liabilities | Financial liabilities designated at fair value | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 10,844 | 10,549 |
HSBC Holdings | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 115,864 | 109,870 |
HSBC Holdings | Financial liabilities designated at fair value | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 25,664 | 30,303 |
HSBC Holdings | Debt securities in issue | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 83,653 | 81,531 |
HSBC Holdings | Debt securities in issue | Financial liabilities designated at fair value | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 19,624 | 24,687 |
HSBC Holdings | Subordinated liabilities | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 23,956 | 23,977 |
HSBC Holdings | Subordinated liabilities | Financial liabilities designated at fair value | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 6,040 | 5,616 |
HSBC Holdings | Subordinated liabilities | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 22,572 | 22,786 |
HSBC Holdings | Subordinated liabilities | Financial liabilities designated at fair value | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | $ 6,040 | $ 5,616 |
Financial liabilties designat_4
Financial liabilties designated at fair value - Narrative (Details) - Financial liabilities designated at fair value - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of financial liabilities [line items] | ||
Difference between carrying amount of financial liability and amount contractually required to pay at maturity to holder of obligation | $ 9,333 | $ (6,120) |
Accumulated increase (decrease) in fair value of financial liability, attributable to changes in credit risk of liability | 2,542 | 2,877 |
HSBC Holdings | ||
Disclosure of financial liabilities [line items] | ||
Difference between carrying amount of financial liability and amount contractually required to pay at maturity to holder of obligation | 3,019 | 2,227 |
Accumulated increase (decrease) in fair value of financial liability, attributable to changes in credit risk of liability | $ 1,210 | $ 1,386 |
Debt securities in issue - Summ
Debt securities in issue - Summary of debt securities in issue (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities | $ 2,655,014 | $ 2,409,361 |
Trading liabilities | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities | 75,266 | 83,170 |
Financial liabilities designated at fair value | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities | 157,439 | 164,466 |
Bonds and medium-term notes | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities | 176,570 | 180,969 |
Other debt securities in issue | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities | 41,538 | 55,354 |
Debt securities | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities | 218,108 | 236,323 |
Debt securities | Trading liabilities | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities | 1,582 | 1,404 |
Debt securities | Financial liabilities designated at fair value | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities | 121,034 | 130,364 |
Debt securities | At cost | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities | 95,492 | 104,555 |
HSBC Holdings | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities | 115,864 | 109,870 |
HSBC Holdings | Financial liabilities designated at fair value | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities | 25,664 | 30,303 |
HSBC Holdings | Debt securities | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities | 83,653 | 81,531 |
HSBC Holdings | Debt securities | Financial liabilities designated at fair value | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities | 19,624 | 24,687 |
HSBC Holdings | Debt securities | At cost | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities | $ 64,029 | $ 56,844 |
Accruals, deferred income and_3
Accruals, deferred income and other liabilities (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Subclassifications of assets, liabilities and equities [abstract] | ||
Accruals, deferred income and other liabilities | $ 10,406 | $ 11,808 |
Settlement accounts | 13,008 | 14,356 |
Cash collateral and margin payables | 65,557 | 56,646 |
Endorsements and acceptances | 10,293 | 10,127 |
Employee benefit liabilities (Note 5) | 2,025 | 1,771 |
Lease liabilities | 4,614 | 4,604 |
Other liabilities | 22,721 | 18,844 |
Total accruals, deferred income and other liabilities | 128,624 | 118,156 |
Financial liabilities at amortised cost | $ 120,229 | $ 111,395 |
Provisions - Rollforward of pro
Provisions - Rollforward of provisions (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Reconciliation of changes in other provisions [abstract] | ||
Other provisions, beginning balance | $ 3,398 | $ 2,920 |
Other provisions, ending balance | 3,678 | 3,398 |
Provisions (excluding contractual commitments) | ||
Reconciliation of changes in other provisions [abstract] | ||
Other provisions, beginning balance | 2,887 | 2,403 |
Additions | 1,456 | 2,581 |
Amounts utilised | (1,363) | (1,781) |
Unused amounts reversed | (469) | (349) |
Exchange and other movements | 79 | 33 |
Other provisions, ending balance | 2,590 | 2,887 |
Restructuring costs | ||
Reconciliation of changes in other provisions [abstract] | ||
Other provisions, beginning balance | 356 | 130 |
Additions | 698 | 402 |
Amounts utilised | (322) | (203) |
Unused amounts reversed | (74) | (34) |
Exchange and other movements | 13 | 61 |
Other provisions, ending balance | 671 | 356 |
Legal proceedings and regulatory matters | ||
Reconciliation of changes in other provisions [abstract] | ||
Other provisions, beginning balance | 605 | 1,128 |
Additions | 347 | 282 |
Amounts utilised | (177) | (660) |
Unused amounts reversed | (75) | (158) |
Exchange and other movements | 56 | 13 |
Other provisions, ending balance | 756 | 605 |
Customer remediation | ||
Reconciliation of changes in other provisions [abstract] | ||
Other provisions, beginning balance | 1,646 | 788 |
Additions | 189 | 1,674 |
Amounts utilised | (739) | (837) |
Unused amounts reversed | (240) | (49) |
Exchange and other movements | 2 | 70 |
Other provisions, ending balance | 858 | 1,646 |
Other provisions | ||
Reconciliation of changes in other provisions [abstract] | ||
Other provisions, beginning balance | 280 | 357 |
Additions | 222 | 223 |
Amounts utilised | (125) | (81) |
Unused amounts reversed | (80) | (108) |
Exchange and other movements | 8 | (111) |
Other provisions, ending balance | 305 | 280 |
Contractual commitments | ||
Reconciliation of changes in other provisions [abstract] | ||
Other provisions, beginning balance | 511 | 517 |
Net change in expected credit loss provision and other movements | 577 | (6) |
Other provisions, ending balance | $ 1,088 | $ 511 |
Provisions - Payment protection
Provisions - Payment protection insurance (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of other provisions [line items] | |||
Other provisions | $ 3,678 | $ 3,398 | $ 2,920 |
Insurance Provision | |||
Disclosure of other provisions [line items] | |||
Other provisions | 300 | 1,100 | |
Amounts utilised | 600 | ||
Unused provision reversed, other provisions | (100) | ||
Refunds due to customers | |||
Disclosure of other provisions [line items] | |||
Other provisions | $ 300 | $ 300 |
Subordinated liabilities - HSBC
Subordinated liabilities - HSBC's subordinated liabilities (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of financial liabilities [line items] | ||
Financial liabilities | $ 2,655,014 | $ 2,409,361 |
HSBC Holdings | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 115,864 | 109,870 |
Subordinated liabilities | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 32,795 | 35,149 |
Subordinated liabilities | HSBC Subsidiaries | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 10,223 | 12,363 |
Subordinated liabilities | HSBC Holdings | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 22,572 | 22,786 |
Subordinated liabilities | HSBC Holdings | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 23,956 | 23,977 |
At amortised cost | Subordinated liabilities | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 21,951 | 24,600 |
At amortised cost | Subordinated liabilities | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 20,095 | 22,775 |
At amortised cost | Subordinated liabilities | HSBC Holdings | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 17,916 | 18,361 |
At amortised cost | Preferred securities | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 1,856 | 1,825 |
Financial liabilities designated at fair value | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 157,439 | 164,466 |
Financial liabilities designated at fair value | HSBC Holdings | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 25,664 | 30,303 |
Financial liabilities designated at fair value | Subordinated liabilities | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 10,844 | 10,549 |
Financial liabilities designated at fair value | Subordinated liabilities | HSBC Holdings | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 6,040 | 5,616 |
Financial liabilities designated at fair value | Subordinated liabilities | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 10,844 | 10,130 |
Financial liabilities designated at fair value | Subordinated liabilities | HSBC Holdings | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 6,040 | 5,616 |
Financial liabilities designated at fair value | Preferred securities | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | $ 0 | $ 419 |
Subordinated liabilities - HS_2
Subordinated liabilities - HSBC's subordinated liabilities (commentary) (Details) | Dec. 31, 2020 |
Preferred securities | |
Disclosure of financial liabilities [line items] | |
Preferred securities maximum rate | 10.176% |
Subordinated liabilities - HS_3
Subordinated liabilities - HSBC's subsidiaries subordinated liabilities in issue (Details) | Dec. 31, 2020USD ($) | Dec. 31, 2020GBP (£) | Dec. 31, 2020MYR (RM) | Dec. 31, 2019USD ($) | Dec. 31, 2019GBP (£) | Oct. 31, 2019USD ($) | Dec. 31, 2017USD ($) |
Disclosure of financial liabilities [line items] | |||||||
Financial liabilities | $ 2,655,014,000,000 | $ 2,409,361,000,000 | |||||
Subordinated liabilities | |||||||
Disclosure of financial liabilities [line items] | |||||||
Financial liabilities | 32,795,000,000 | 35,149,000,000 | |||||
HSBC Subsidiaries | Subordinated liabilities | |||||||
Disclosure of financial liabilities [line items] | |||||||
Financial liabilities | 10,223,000,000 | 12,363,000,000 | |||||
HSBC Holdings | |||||||
Disclosure of financial liabilities [line items] | |||||||
Financial liabilities | 115,864,000,000 | 109,870,000,000 | |||||
HSBC Holdings | Subordinated liabilities | |||||||
Disclosure of financial liabilities [line items] | |||||||
Financial liabilities | 22,572,000,000 | 22,786,000,000 | |||||
HSBC Holdings | Subordinated liabilities | |||||||
Disclosure of financial liabilities [line items] | |||||||
Financial liabilities | 23,956,000,000 | 23,977,000,000 | |||||
4.250% Subordinated Notes due 2024 (US404280AP48) | HSBC Holdings | Subordinated liabilities | |||||||
Disclosure of financial liabilities [line items] | |||||||
Notional amount | $ 2,000,000,000 | ||||||
Borrowings interest rate | 4.25% | 4.25% | 4.25% | ||||
Financial liabilities | $ 2,151,000,000 | 2,076,000,000 | |||||
Borrowings interest rate | 4.25% | 4.25% | 4.25% | ||||
Guaranteed By HSBC Holdings | HSBC Subsidiaries | Preferred securities | |||||||
Disclosure of financial liabilities [line items] | |||||||
Financial liabilities | $ 900,000,000 | 900,000,000 | |||||
Guaranteed By HSBC Holdings | 10.176% non-cumulative step-up perpetual preferred securities, series 2 | HSBC Subsidiaries | Preferred securities | |||||||
Disclosure of financial liabilities [line items] | |||||||
Notional amount | $ 900,000,000 | ||||||
Preferred securities rate | 10.176% | 10.176% | 10.176% | ||||
Financial liabilities | $ 900,000,000 | 900,000,000 | |||||
Preferred securities rate | 10.176% | 10.176% | 10.176% | ||||
Guaranteed By HSBC Bank plc | HSBC Subsidiaries | Preferred securities | |||||||
Disclosure of financial liabilities [line items] | |||||||
Financial liabilities | $ 956,000,000 | 1,345,000,000 | |||||
Guaranteed By HSBC Bank plc | 5.862% non-cumulative step-up perpetual preferred securities | HSBC Subsidiaries | Preferred securities | |||||||
Disclosure of financial liabilities [line items] | |||||||
Notional amount | £ | £ 300,000,000 | ||||||
Preferred securities rate | 5.862% | 5.862% | 5.862% | ||||
Financial liabilities | $ 0 | 420,000,000 | |||||
Preferred securities rate | 5.862% | 5.862% | 5.862% | ||||
Guaranteed By HSBC Bank plc | 5.844% non-cumulative step-up perpetual preferred securities | HSBC Subsidiaries | Preferred securities | |||||||
Disclosure of financial liabilities [line items] | |||||||
Notional amount | £ | £ 700,000,000 | ||||||
Preferred securities rate | 5.844% | 5.844% | 5.844% | ||||
Financial liabilities | $ 956,000,000 | 925,000,000 | |||||
Preferred securities rate | 5.844% | 5.844% | 5.844% | ||||
HSBC Bank plc | HSBC Subsidiaries | Subordinated liabilities | |||||||
Disclosure of financial liabilities [line items] | |||||||
Financial liabilities | $ 4,941,000,000 | 4,751,000,000 | |||||
HSBC Bank plc | Undated Floating Rate Primary Capital Notes and 7.65% Subordinated Notes | HSBC Subsidiaries | Subordinated liabilities | |||||||
Disclosure of financial liabilities [line items] | |||||||
Financial liabilities | 1,850,000,000 | 1,850,000,000 | |||||
HSBC Bank plc | $750m Undated Floating Rate Primary Capital Notes | HSBC Subsidiaries | Subordinated liabilities | |||||||
Disclosure of financial liabilities [line items] | |||||||
Notional amount | 750,000,000 | ||||||
Financial liabilities | 750,000,000 | 750,000,000 | |||||
HSBC Bank plc | $500m Undated Floating Rate Primary Capital Notes | HSBC Subsidiaries | Subordinated liabilities | |||||||
Disclosure of financial liabilities [line items] | |||||||
Notional amount | 500,000,000 | ||||||
Financial liabilities | 500,000,000 | 500,000,000 | |||||
HSBC Bank plc | $300m Undated Floating Rate Primary Capital Notes, Series 3 | HSBC Subsidiaries | Subordinated liabilities | |||||||
Disclosure of financial liabilities [line items] | |||||||
Notional amount | 300,000,000 | ||||||
Financial liabilities | 300,000,000 | 300,000,000 | |||||
HSBC Bank plc | 7.65% subordinated notes | HSBC Subsidiaries | Subordinated liabilities | |||||||
Disclosure of financial liabilities [line items] | |||||||
Notional amount | $ 300,000,000 | ||||||
Borrowings interest rate | 7.65% | 7.65% | 7.65% | ||||
Financial liabilities | $ 300,000,000 | 300,000,000 | |||||
Borrowings interest rate | 7.65% | 7.65% | 7.65% | ||||
HSBC Bank plc | Subordinated Notes | HSBC Subsidiaries | Subordinated liabilities | |||||||
Disclosure of financial liabilities [line items] | |||||||
Financial liabilities | $ 3,091,000,000 | 2,901,000,000 | |||||
HSBC Bank plc | 6.50% subordinated notes | HSBC Subsidiaries | Subordinated liabilities | |||||||
Disclosure of financial liabilities [line items] | |||||||
Notional amount | £ | £ 300,000,000 | ||||||
Borrowings interest rate | 6.50% | 6.50% | 6.50% | ||||
Financial liabilities | $ 409,000,000 | 396,000,000 | |||||
Borrowings interest rate | 6.50% | 6.50% | 6.50% | ||||
HSBC Bank plc | 5.375% callable subordinated step-up notes | HSBC Subsidiaries | Subordinated liabilities | |||||||
Disclosure of financial liabilities [line items] | |||||||
Notional amount | £ | £ 350,000,000 | ||||||
Borrowings interest rate | 5.375% | 5.375% | 5.375% | ||||
Financial liabilities | $ 583,000,000 | 549,000,000 | |||||
Borrowings interest rate | 5.375% | 5.375% | 5.375% | ||||
HSBC Bank plc | 5.375% subordinated notes | HSBC Subsidiaries | Subordinated liabilities | |||||||
Disclosure of financial liabilities [line items] | |||||||
Notional amount | £ | £ 500,000,000 | ||||||
Borrowings interest rate | 5.375% | 5.375% | 5.375% | ||||
Financial liabilities | $ 981,000,000 | 875,000,000 | |||||
Borrowings interest rate | 5.375% | 5.375% | 5.375% | ||||
HSBC Bank plc | 6.25% subordinated notes | HSBC Subsidiaries | Subordinated liabilities | |||||||
Disclosure of financial liabilities [line items] | |||||||
Notional amount | £ | £ 225,000,000 | ||||||
Borrowings interest rate | 6.25% | 6.25% | 6.25% | ||||
Financial liabilities | $ 306,000,000 | 296,000,000 | |||||
Borrowings interest rate | 6.25% | 6.25% | 6.25% | ||||
HSBC Bank plc | 4.75% subordinated notes | HSBC Subsidiaries | Subordinated liabilities | |||||||
Disclosure of financial liabilities [line items] | |||||||
Notional amount | £ | £ 600,000,000 | ||||||
Borrowings interest rate | 4.75% | 4.75% | 4.75% | ||||
Financial liabilities | $ 812,000,000 | 785,000,000 | |||||
Borrowings interest rate | 4.75% | 4.75% | 4.75% | ||||
The Hongkong and Shanghai Banking Corporation Limited | HSBC Subsidiaries | Subordinated liabilities | |||||||
Disclosure of financial liabilities [line items] | |||||||
Financial liabilities | $ 400,000,000 | 400,000,000 | |||||
The Hongkong and Shanghai Banking Corporation Limited | Primary capital undated floating rate notes (third series) | HSBC Subsidiaries | Subordinated liabilities | |||||||
Disclosure of financial liabilities [line items] | |||||||
Notional amount | 400,000,000 | ||||||
Financial liabilities | 400,000,000 | 400,000,000 | |||||
HSBC Bank Malaysia Berhad | HSBC Subsidiaries | Subordinated liabilities | |||||||
Disclosure of financial liabilities [line items] | |||||||
Financial liabilities | $ 124,000,000 | 122,000,000 | |||||
HSBC Bank Malaysia Berhad | 5.05% subordinated bonds | HSBC Subsidiaries | Subordinated liabilities | |||||||
Disclosure of financial liabilities [line items] | |||||||
Notional amount | RM | RM 500,000,000 | ||||||
Borrowings interest rate | 5.05% | 5.05% | 5.05% | ||||
Financial liabilities | $ 124,000,000 | 122,000,000 | |||||
Borrowings interest rate | 5.05% | 5.05% | 5.05% | ||||
HSBC Securities (USA) Inc. | HSBC Subsidiaries | Subordinated liabilities | |||||||
Disclosure of financial liabilities [line items] | |||||||
Financial liabilities | $ 422,000,000 | 1,171,000,000 | |||||
HSBC Securities (USA) Inc. | 5.00% subordinated notes | HSBC Subsidiaries | Subordinated liabilities | |||||||
Disclosure of financial liabilities [line items] | |||||||
Notional amount | 750,000,000 | ||||||
Borrowings interest rate | 5.00% | 5.00% | 5.00% | ||||
Financial liabilities | $ 0 | 748,000,000 | |||||
Borrowings interest rate | 5.00% | 5.00% | 5.00% | ||||
HSBC Securities (USA) Inc. | 7.20% subordinated debentures | HSBC Subsidiaries | Subordinated liabilities | |||||||
Disclosure of financial liabilities [line items] | |||||||
Notional amount | $ 250,000,000 | ||||||
Borrowings interest rate | 7.20% | 7.20% | 7.20% | ||||
Financial liabilities | $ 222,000,000 | 221,000,000 | |||||
Borrowings interest rate | 7.20% | 7.20% | 7.20% | ||||
HSBC Securities (USA) Inc. | Other subordinated liabilities each less than $150m | HSBC Subsidiaries | Subordinated liabilities | |||||||
Disclosure of financial liabilities [line items] | |||||||
Financial liabilities | $ 200,000,000 | 202,000,000 | |||||
HSBC Bank USA, N.A. | HSBC Subsidiaries | Subordinated liabilities | |||||||
Disclosure of financial liabilities [line items] | |||||||
Financial liabilities | $ 1,730,000,000 | 2,905,000,000 | |||||
HSBC Bank USA, N.A. | 4.875% subordinated notes | HSBC Subsidiaries | Subordinated liabilities | |||||||
Disclosure of financial liabilities [line items] | |||||||
Notional amount | 1,250,000,000 | ||||||
Borrowings interest rate | 4.875% | 4.875% | 4.875% | ||||
Financial liabilities | $ 0 | 1,246,000,000 | |||||
Borrowings interest rate | 4.875% | 4.875% | 4.875% | ||||
HSBC Bank USA, N.A. | 5.875% subordinated notes | HSBC Subsidiaries | Subordinated liabilities | |||||||
Disclosure of financial liabilities [line items] | |||||||
Notional amount | $ 358,000,000 | $ 1,000,000,000 | |||||
Borrowings interest rate | 5.875% | 5.875% | 5.875% | ||||
Financial liabilities | $ 497,000,000 | 463,000,000 | |||||
Borrowings interest rate | 5.875% | 5.875% | 5.875% | ||||
HSBC Bank USA, N.A. | 5.625% subordinated notes | HSBC Subsidiaries | Subordinated liabilities | |||||||
Disclosure of financial liabilities [line items] | |||||||
Notional amount | $ 383,000,000 | $ 750,000,000 | |||||
Borrowings interest rate | 5.625% | 5.625% | 5.625% | ||||
Financial liabilities | $ 533,000,000 | 496,000,000 | |||||
Borrowings interest rate | 5.625% | 5.625% | 5.625% | ||||
HSBC Bank USA, N.A. | 7.00% subordinated notes | HSBC Subsidiaries | Subordinated liabilities | |||||||
Disclosure of financial liabilities [line items] | |||||||
Notional amount | $ 700,000,000 | ||||||
Borrowings interest rate | 7.00% | 7.00% | 7.00% | ||||
Financial liabilities | $ 700,000,000 | 700,000,000 | |||||
Borrowings interest rate | 7.00% | 7.00% | 7.00% | ||||
HSBC Finance Corporation | 6.676% senior subordinated notes | HSBC Subsidiaries | Subordinated liabilities | |||||||
Disclosure of financial liabilities [line items] | |||||||
Notional amount | $ 507,000,000 | $ 2,939,000,000 | |||||
Borrowings interest rate | 6.676% | 6.676% | 6.676% | ||||
Financial liabilities | 507,000,000 | ||||||
Borrowings interest rate | 6.676% | 6.676% | 6.676% | ||||
HSBC Finance Corporation | 6.676% senior subordinated notes | HSBC Subsidiaries | Subordinated liabilities | Not later than one year | |||||||
Disclosure of financial liabilities [line items] | |||||||
Financial liabilities | $ 509,000,000 | ||||||
HSBC Bank Canada | HSBC Subsidiaries | Subordinated liabilities | |||||||
Disclosure of financial liabilities [line items] | |||||||
Financial liabilities | 9,000,000 | 26,000,000 | |||||
HSBC Bank Canada | Other subordinated liabilities each less than $150m | HSBC Subsidiaries | Subordinated liabilities | |||||||
Disclosure of financial liabilities [line items] | |||||||
Financial liabilities | 9,000,000 | 26,000,000 | |||||
Other HSBC Subsidiaries | Other subordinated liabilities each less than $200m | HSBC Subsidiaries | Subordinated liabilities | |||||||
Disclosure of financial liabilities [line items] | |||||||
Financial liabilities | 232,000,000 | $ 236,000,000 | |||||
Other HSBC Subsidiaries | Other subordinated liabilities each less than $200m | HSBC Subsidiaries | Subordinated liabilities | Not later than one year | |||||||
Disclosure of financial liabilities [line items] | |||||||
Financial liabilities | $ 109,000,000 | ||||||
Three Month London Interbank Offered Rate LIBOR | HSBC Bank plc | 5.375% callable subordinated step-up notes | HSBC Subsidiaries | Subordinated liabilities | |||||||
Disclosure of financial liabilities [line items] | |||||||
Borrowings, adjustment to interest rate basis | 1.50% | 1.50% | 1.50% |
Subordinated liabilities - HS_4
Subordinated liabilities - HSBC Holdings subordinated liabilities (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of financial liabilities [line items] | ||
Financial liabilities | $ 2,655,014 | $ 2,409,361 |
HSBC Holdings | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 115,864 | 109,870 |
HSBC Holdings | Subordinated liabilities | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 23,956 | 23,977 |
At amortised cost | Subordinated liabilities | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 20,095 | 22,775 |
At amortised cost | HSBC Holdings | Subordinated liabilities | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 17,916 | 18,361 |
Financial liabilities designated at fair value | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 157,439 | 164,466 |
Financial liabilities designated at fair value | Subordinated liabilities | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 10,844 | 10,130 |
Financial liabilities designated at fair value | HSBC Holdings | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 25,664 | 30,303 |
Financial liabilities designated at fair value | HSBC Holdings | Subordinated liabilities | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | $ 6,040 | $ 5,616 |
Subordinated liabilities - HS_5
Subordinated liabilities - HSBC Holdings' subordinated liabilities in issue (Details) | Dec. 31, 2020USD ($) | Dec. 31, 2020GBP (£) | Dec. 31, 2020EUR (€) | Dec. 31, 2019USD ($) |
Disclosure of financial liabilities [line items] | ||||
Financial liabilities | $ 2,655,014,000,000 | $ 2,409,361,000,000 | ||
HSBC Holdings | ||||
Disclosure of financial liabilities [line items] | ||||
Financial liabilities | 115,864,000,000 | 109,870,000,000 | ||
HSBC Holdings | Subordinated liabilities | ||||
Disclosure of financial liabilities [line items] | ||||
Financial liabilities | 23,956,000,000 | 23,977,000,000 | ||
Borrowings Issued To Third Parties, Tier 2 Securities | HSBC Holdings | Subordinated liabilities | ||||
Disclosure of financial liabilities [line items] | ||||
Financial liabilities | 23,064,000,000 | 21,582,000,000 | ||
4.250% Subordinated Notes due 2024 (US404280AP48) | HSBC Holdings | Subordinated liabilities | ||||
Disclosure of financial liabilities [line items] | ||||
Notional amount | $ 2,000,000,000 | |||
Borrowings interest rate | 4.25% | 4.25% | 4.25% | |
Financial liabilities | $ 2,151,000,000 | 2,076,000,000 | ||
4.250% Subordinated Notes due 2025 (US404280AU33) | HSBC Holdings | Subordinated liabilities | ||||
Disclosure of financial liabilities [line items] | ||||
Notional amount | $ 1,500,000,000 | |||
Borrowings interest rate | 4.25% | 4.25% | 4.25% | |
Financial liabilities | $ 1,702,000,000 | 1,611,000,000 | ||
4.375% Subordinated Notes due 2026 (US404280BH13) | HSBC Holdings | Subordinated liabilities | ||||
Disclosure of financial liabilities [line items] | ||||
Notional amount | $ 1,500,000,000 | |||
Borrowings interest rate | 4.375% | 4.375% | 4.375% | |
Financial liabilities | $ 1,736,000,000 | 1,626,000,000 | ||
7.625% Subordinated Notes due 2032 (US404280AF65) | HSBC Holdings | Subordinated liabilities | ||||
Disclosure of financial liabilities [line items] | ||||
Notional amount | $ 488,000,000 | |||
Borrowings interest rate | 7.625% | 7.625% | 7.625% | |
Financial liabilities | $ 541,000,000 | 545,000,000 | ||
7.35% Subordinated Notes due 2032 (US404280AE90) | HSBC Holdings | Subordinated liabilities | ||||
Disclosure of financial liabilities [line items] | ||||
Notional amount | $ 222,000,000 | |||
Borrowings interest rate | 7.35% | 7.35% | 7.35% | |
Financial liabilities | $ 243,000,000 | 245,000,000 | ||
6.5% Subordinated Notes 2036 (US404280AG49) | HSBC Holdings | Subordinated liabilities | ||||
Disclosure of financial liabilities [line items] | ||||
Notional amount | $ 2,000,000,000 | |||
Borrowings interest rate | 6.50% | 6.50% | 6.50% | |
Financial liabilities | $ 2,034,000,000 | 2,036,000,000 | ||
6.5% Subordinated Notes 2037 (US404280AH22) | HSBC Holdings | Subordinated liabilities | ||||
Disclosure of financial liabilities [line items] | ||||
Notional amount | $ 2,500,000,000 | |||
Borrowings interest rate | 6.50% | 6.50% | 6.50% | |
Financial liabilities | $ 3,033,000,000 | 2,738,000,000 | ||
6.8% Subordinated Notes Due 2038 (US404280AJ87) | HSBC Holdings | Subordinated liabilities | ||||
Disclosure of financial liabilities [line items] | ||||
Notional amount | $ 1,500,000,000 | |||
Borrowings interest rate | 6.80% | 6.80% | 6.80% | |
Financial liabilities | $ 1,490,000,000 | 1,490,000,000 | ||
5.250% Subordinated Notes due 2044 (US404280AQ21) | HSBC Holdings | Subordinated liabilities | ||||
Disclosure of financial liabilities [line items] | ||||
Notional amount | $ 1,500,000,000 | |||
Borrowings interest rate | 5.25% | 5.25% | 5.25% | |
Financial liabilities | $ 2,092,000,000 | 1,886,000,000 | ||
5.75% Subordinated Notes Due December 2027 | HSBC Holdings | Subordinated liabilities | ||||
Disclosure of financial liabilities [line items] | ||||
Notional amount | £ | £ 650,000,000 | |||
Borrowings interest rate | 5.75% | 5.75% | 5.75% | |
Financial liabilities | $ 1,130,000,000 | 1,059,000,000 | ||
6.75% Subordinated Notes Due September 2028 | HSBC Holdings | Subordinated liabilities | ||||
Disclosure of financial liabilities [line items] | ||||
Notional amount | £ | £ 650,000,000 | |||
Borrowings interest rate | 6.75% | 6.75% | 6.75% | |
Financial liabilities | $ 884,000,000 | 855,000,000 | ||
7.0% Subordinated Notes Due April 2038 | HSBC Holdings | Subordinated liabilities | ||||
Disclosure of financial liabilities [line items] | ||||
Notional amount | £ | £ 750,000,000 | |||
Borrowings interest rate | 7.00% | 7.00% | 7.00% | |
Financial liabilities | $ 1,157,000,000 | 1,064,000,000 | ||
6.0% Subordinated Notes Due March 2040 | HSBC Holdings | Subordinated liabilities | ||||
Disclosure of financial liabilities [line items] | ||||
Notional amount | £ | £ 900,000,000 | |||
Borrowings interest rate | 6.00% | 6.00% | 6.00% | |
Financial liabilities | $ 1,483,000,000 | 1,294,000,000 | ||
3.0% Subordinated Notes Due June 2025 | HSBC Holdings | Subordinated liabilities | ||||
Disclosure of financial liabilities [line items] | ||||
Notional amount | € | € 1,500,000,000 | |||
Borrowings interest rate | 3.00% | 3.00% | 3.00% | |
Financial liabilities | $ 1,916,000,000 | 1,736,000,000 | ||
3.125% Subordinated Notes Due June 2028 | HSBC Holdings | Subordinated liabilities | ||||
Disclosure of financial liabilities [line items] | ||||
Notional amount | € | € 1,000,000,000 | |||
Borrowings interest rate | 3.125% | 3.125% | 3.125% | |
Financial liabilities | $ 1,472,000,000 | 1,321,000,000 | ||
Borrowings Issued To Related Parties | HSBC Holdings | Subordinated liabilities | ||||
Disclosure of financial liabilities [line items] | ||||
Financial liabilities | 892,000,000 | 892,000,000 | ||
10.176% Subordinated Step-up Cumulative Notes Due June 2040 | HSBC Holdings | Subordinated liabilities | ||||
Disclosure of financial liabilities [line items] | ||||
Notional amount | $ 900,000,000 | |||
Borrowings interest rate | 10.176% | 10.176% | 10.176% | |
Financial liabilities | $ 892,000,000 | 892,000,000 | ||
Borrowings Issued To Third Parties, Other Securities | HSBC Holdings | Subordinated liabilities | ||||
Disclosure of financial liabilities [line items] | ||||
Financial liabilities | $ 0 | 1,503,000,000 | ||
5.625% contingent convertible securities due 2020 | HSBC Holdings | Subordinated liabilities | ||||
Disclosure of financial liabilities [line items] | ||||
Notional amount | 1,500,000,000 | |||
Borrowings interest rate | 5.625% | 5.625% | 5.625% | |
Financial liabilities | $ 0 | $ 1,503,000,000 |
Maturity analysis of assets, _3
Maturity analysis of assets, liabilities and off-balance sheet commitments - Maturity analysis of assets, liabilities and off-balance sheet commitments (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Financial assets | |||
Cash and balances at central banks | $ 304,481 | $ 154,099 | $ 162,843 |
Items in the course of collection from other banks | 4,094 | 4,956 | 5,787 |
Hong Kong Government certificates of indebtedness | 40,420 | 38,380 | |
– trading assets | 231,990 | 254,271 | |
Financial assets designated or otherwise mandatorily measured at fair value | 45,553 | 43,627 | |
Derivatives | 307,726 | 242,995 | |
Loans and advances to banks and other financial institutions | 81,616 | 69,203 | |
Loans and advances to customers | 1,037,987 | 1,036,743 | 981,696 |
– personal | 456,078 | 431,137 | |
– corporate and commercial | 517,594 | 535,061 | |
– financial | 64,315 | 70,545 | |
Reverse repurchase agreements – non-trading | 230,628 | 240,862 | |
Financial investments | 490,693 | 443,312 | |
Accrued income and other financial assets | 105,563 | 92,979 | |
Financial assets | 2,880,751 | 2,621,427 | |
Non-financial assets | 103,413 | 93,725 | |
Total assets | 2,984,164 | 2,715,152 | 2,558,124 |
Off-balance sheet commitments received | |||
Loan and other credit-related commitments | 60,849 | 63,199 | |
Financial liabilities | |||
Hong Kong currency notes in circulation | 40,420 | 38,380 | |
Deposits from banks | 82,080 | 59,022 | |
Customer accounts | 1,642,780 | 1,439,115 | 1,362,643 |
– personal | 832,278 | 747,252 | |
– corporate and commercial | 624,171 | 519,317 | |
– financial | 186,331 | 172,546 | |
Repurchase agreements – non-trading | 111,901 | 140,344 | |
Items in the course of transmission to other banks | 4,343 | 4,817 | 5,641 |
Trading liabilities | 75,266 | 83,170 | |
Financial liabilities designated at fair value | 157,439 | 164,466 | |
Derivatives | 303,001 | 239,497 | |
Debt securities in issue | 95,492 | 104,555 | |
Accruals and other financial liabilities | 120,341 | 111,395 | |
Subordinated liabilities | 21,951 | 24,600 | |
Financial liabilities | 2,655,014 | 2,409,361 | |
Non-financial liabilities | 124,155 | 113,123 | |
Total liabilities | 2,779,169 | 2,522,484 | |
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 844,770 | 797,608 | |
Customer accounts, insured by guarantee schemes | 463,524 | 408,090 | |
HSBC Holdings | |||
Financial assets | |||
– balances with HSBC undertakings | 2,913 | 2,382 | $ 3,509 |
Financial assets designated or otherwise mandatorily measured at fair value | 65,253 | 61,964 | |
Derivatives | 4,698 | 2,002 | |
Loans and advances to banks and other financial institutions | 10,443 | 10,218 | |
Financial assets with HSBC undertakings designated and otherwise mandatorily measured at fair value | 65,253 | 61,964 | |
Financial investments | 17,485 | 16,106 | |
Accrued income and other financial assets | 1,445 | 543 | |
Financial assets | 102,237 | 93,215 | |
Non-financial assets | 160,936 | 162,025 | |
Total assets | 263,173 | 255,240 | |
Financial liabilities | |||
Amounts owed to HSBC undertakings | 330 | 464 | |
Financial liabilities designated at fair value | 25,664 | 30,303 | |
Derivatives | 3,060 | 2,021 | |
Debt securities in issue | 64,029 | 56,844 | |
Accruals and other financial liabilities | 4,865 | 1,877 | |
Subordinated liabilities | 17,916 | 18,361 | |
Financial liabilities | 115,864 | 109,870 | |
Non-financial liabilities | 509 | 326 | |
Total liabilities | 116,373 | 110,196 | |
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 0 | 0 | |
Personal | |||
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 236,551 | 223,153 | |
Corporate and commercial | |||
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 472,218 | 461,518 | |
Financial | |||
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 136,001 | 112,937 | |
Debt securities in issue | |||
Financial liabilities | |||
Financial liabilities | 218,108 | 236,323 | |
Debt securities in issue | HSBC Holdings | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 19,624 | 24,687 | |
Financial liabilities | 83,653 | 81,531 | |
– debt securities in issue: covered bonds | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 4,157 | 4,961 | |
Debt securities in issue | 3,052 | 1,747 | |
– debt securities in issue: unsecured | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 116,878 | 125,402 | |
Debt securities in issue | 84,256 | 97,542 | |
– subordinated liabilities and preferred securities | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 10,844 | 10,550 | |
– subordinated liabilities and preferred securities | HSBC Holdings | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 6,040 | 5,616 | |
– other | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 25,560 | 23,553 | |
– debt securities in issue: otherwise secured | |||
Financial liabilities | |||
Debt securities in issue | 8,184 | 5,266 | |
Cash prime brokerage balances | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 3,889 | ||
Due not more than 1 month | |||
Financial assets | |||
Cash and balances at central banks | 304,481 | 154,099 | |
Items in the course of collection from other banks | 4,094 | 4,956 | |
Hong Kong Government certificates of indebtedness | 40,420 | 38,380 | |
– trading assets | 228,434 | 252,009 | |
Financial assets designated or otherwise mandatorily measured at fair value | 3,061 | 4,846 | |
Derivatives | 306,561 | 241,941 | |
Loans and advances to banks and other financial institutions | 51,652 | 41,554 | |
Loans and advances to customers | 172,306 | 190,675 | |
– personal | 51,711 | 51,893 | |
– corporate and commercial | 101,684 | 118,585 | |
– financial | 18,911 | 20,197 | |
Reverse repurchase agreements – non-trading | 157,234 | 164,741 | |
Financial investments | 47,270 | 36,128 | |
Accrued income and other financial assets | 93,118 | 80,661 | |
Financial assets | 1,408,631 | 1,209,990 | |
Non-financial assets | 0 | 0 | |
Total assets | 1,408,631 | 1,209,990 | |
Off-balance sheet commitments received | |||
Loan and other credit-related commitments | 60,849 | 63,199 | |
Financial liabilities | |||
Hong Kong currency notes in circulation | 40,420 | 38,380 | |
Deposits from banks | 60,973 | 46,397 | |
Customer accounts | 1,533,595 | 1,287,358 | |
– personal | 766,631 | 646,843 | |
– corporate and commercial | 588,887 | 479,763 | |
– financial | 178,077 | 160,752 | |
Repurchase agreements – non-trading | 102,633 | 132,042 | |
Items in the course of transmission to other banks | 4,343 | 4,817 | |
Trading liabilities | 70,799 | 82,130 | |
Financial liabilities designated at fair value | 18,434 | 12,844 | |
Derivatives | 300,902 | 237,901 | |
Debt securities in issue | 6,552 | 8,183 | |
Accruals and other financial liabilities | 96,821 | 87,796 | |
Subordinated liabilities | 619 | 1,502 | |
Financial liabilities | 2,236,091 | 1,939,350 | |
Non-financial liabilities | 0 | 0 | |
Total liabilities | 2,236,091 | 1,939,350 | |
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 842,974 | 794,336 | |
Due not more than 1 month | HSBC Holdings | |||
Financial assets | |||
– balances with HSBC undertakings | 2,913 | 2,382 | |
Derivatives | 1,473 | 596 | |
Loans and advances to banks and other financial institutions | 0 | 102 | |
Financial assets with HSBC undertakings designated and otherwise mandatorily measured at fair value | 0 | 0 | |
Financial investments | 3,701 | 2,754 | |
Accrued income and other financial assets | 1,015 | 93 | |
Financial assets | 9,102 | 5,927 | |
Non-financial assets | 0 | 0 | |
Total assets | 9,102 | 5,927 | |
Financial liabilities | |||
Amounts owed to HSBC undertakings | 0 | 0 | |
Financial liabilities designated at fair value | 0 | 0 | |
Derivatives | 3,052 | 1,838 | |
Debt securities in issue | 0 | 0 | |
Accruals and other financial liabilities | 3,769 | 900 | |
Subordinated liabilities | 0 | 1,503 | |
Financial liabilities | 6,821 | 4,241 | |
Non-financial liabilities | 0 | 0 | |
Total liabilities | 6,821 | 4,241 | |
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 0 | 0 | |
Due not more than 1 month | Personal | |||
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 235,606 | 221,952 | |
Due not more than 1 month | Corporate and commercial | |||
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 471,410 | 460,569 | |
Due not more than 1 month | Financial | |||
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 135,958 | 111,815 | |
Due not more than 1 month | Debt securities in issue | HSBC Holdings | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 0 | 0 | |
Due not more than 1 month | – debt securities in issue: covered bonds | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 0 | 0 | |
Debt securities in issue | 0 | 0 | |
Due not more than 1 month | – debt securities in issue: unsecured | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 10,762 | 8,884 | |
Debt securities in issue | 5,458 | 6,168 | |
Due not more than 1 month | – subordinated liabilities and preferred securities | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 0 | 23 | |
Due not more than 1 month | – subordinated liabilities and preferred securities | HSBC Holdings | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 0 | 0 | |
Due not more than 1 month | – other | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 7,672 | 3,937 | |
Due not more than 1 month | – debt securities in issue: otherwise secured | |||
Financial liabilities | |||
Debt securities in issue | 1,094 | 2,015 | |
Due over 1 month but not more than 3 months | |||
Financial assets | |||
Cash and balances at central banks | 0 | 0 | |
Items in the course of collection from other banks | 0 | 0 | |
Hong Kong Government certificates of indebtedness | 0 | 0 | |
– trading assets | 1,778 | 644 | |
Financial assets designated or otherwise mandatorily measured at fair value | 240 | 74 | |
Derivatives | 15 | 150 | |
Loans and advances to banks and other financial institutions | 11,283 | 7,826 | |
Loans and advances to customers | 70,746 | 82,379 | |
– personal | 9,645 | 14,547 | |
– corporate and commercial | 55,009 | 61,629 | |
– financial | 6,092 | 6,203 | |
Reverse repurchase agreements – non-trading | 44,658 | 38,997 | |
Financial investments | 77,450 | 64,472 | |
Accrued income and other financial assets | 5,951 | 5,544 | |
Financial assets | 212,121 | 200,086 | |
Non-financial assets | 0 | 0 | |
Total assets | 212,121 | 200,086 | |
Off-balance sheet commitments received | |||
Loan and other credit-related commitments | 0 | 0 | |
Financial liabilities | |||
Hong Kong currency notes in circulation | 0 | 0 | |
Deposits from banks | 1,396 | 4,167 | |
Customer accounts | 61,376 | 81,038 | |
– personal | 32,429 | 49,405 | |
– corporate and commercial | 22,856 | 24,214 | |
– financial | 6,091 | 7,419 | |
Repurchase agreements – non-trading | 3,979 | 3,402 | |
Items in the course of transmission to other banks | 0 | 0 | |
Trading liabilities | 3,377 | 209 | |
Financial liabilities designated at fair value | 7,333 | 4,667 | |
Derivatives | 264 | 105 | |
Debt securities in issue | 12,329 | 17,374 | |
Accruals and other financial liabilities | 9,794 | 9,078 | |
Subordinated liabilities | 0 | 0 | |
Financial liabilities | 99,848 | 120,040 | |
Non-financial liabilities | 0 | 0 | |
Total liabilities | 99,848 | 120,040 | |
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 435 | 600 | |
Due over 1 month but not more than 3 months | HSBC Holdings | |||
Financial assets | |||
– balances with HSBC undertakings | 0 | 0 | |
Derivatives | 0 | 0 | |
Loans and advances to banks and other financial institutions | 600 | 672 | |
Financial assets with HSBC undertakings designated and otherwise mandatorily measured at fair value | 451 | 0 | |
Financial investments | 3,769 | 3,493 | |
Accrued income and other financial assets | 275 | 277 | |
Financial assets | 5,095 | 4,442 | |
Non-financial assets | 0 | 0 | |
Total assets | 5,095 | 4,442 | |
Financial liabilities | |||
Amounts owed to HSBC undertakings | 330 | 464 | |
Financial liabilities designated at fair value | 984 | 0 | |
Derivatives | 0 | 0 | |
Debt securities in issue | 503 | 0 | |
Accruals and other financial liabilities | 689 | 574 | |
Subordinated liabilities | 0 | 0 | |
Financial liabilities | 2,506 | 1,038 | |
Non-financial liabilities | 0 | 0 | |
Total liabilities | 2,506 | 1,038 | |
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 0 | 0 | |
Due over 1 month but not more than 3 months | Personal | |||
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 172 | 40 | |
Due over 1 month but not more than 3 months | Corporate and commercial | |||
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 250 | 117 | |
Due over 1 month but not more than 3 months | Financial | |||
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 13 | 443 | |
Due over 1 month but not more than 3 months | Debt securities in issue | HSBC Holdings | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 984 | 0 | |
Due over 1 month but not more than 3 months | – debt securities in issue: covered bonds | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 0 | 0 | |
Debt securities in issue | 0 | 0 | |
Due over 1 month but not more than 3 months | – debt securities in issue: unsecured | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 4,470 | 2,046 | |
Debt securities in issue | 10,744 | 17,372 | |
Due over 1 month but not more than 3 months | – subordinated liabilities and preferred securities | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 0 | 0 | |
Due over 1 month but not more than 3 months | – subordinated liabilities and preferred securities | HSBC Holdings | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 0 | 0 | |
Due over 1 month but not more than 3 months | – other | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 2,863 | 2,621 | |
Due over 1 month but not more than 3 months | – debt securities in issue: otherwise secured | |||
Financial liabilities | |||
Debt securities in issue | 1,585 | 2 | |
Due over 3 months but not more than 6 months | |||
Financial assets | |||
Cash and balances at central banks | 0 | 0 | |
Items in the course of collection from other banks | 0 | 0 | |
Hong Kong Government certificates of indebtedness | 0 | 0 | |
– trading assets | 458 | 412 | |
Financial assets designated or otherwise mandatorily measured at fair value | 466 | 381 | |
Derivatives | 12 | 24 | |
Loans and advances to banks and other financial institutions | 5,640 | 4,877 | |
Loans and advances to customers | 65,838 | 61,254 | |
– personal | 7,918 | 8,562 | |
– corporate and commercial | 51,755 | 45,924 | |
– financial | 6,165 | 6,768 | |
Reverse repurchase agreements – non-trading | 16,655 | 17,933 | |
Financial investments | 44,255 | 35,795 | |
Accrued income and other financial assets | 2,743 | 2,532 | |
Financial assets | 136,067 | 123,208 | |
Non-financial assets | 0 | 0 | |
Total assets | 136,067 | 123,208 | |
Off-balance sheet commitments received | |||
Loan and other credit-related commitments | 0 | 0 | |
Financial liabilities | |||
Hong Kong currency notes in circulation | 0 | 0 | |
Deposits from banks | 714 | 2,773 | |
Customer accounts | 22,568 | 38,343 | |
– personal | 15,511 | 29,320 | |
– corporate and commercial | 5,963 | 7,162 | |
– financial | 1,094 | 1,861 | |
Repurchase agreements – non-trading | 2,165 | 1,579 | |
Items in the course of transmission to other banks | 0 | 0 | |
Trading liabilities | 400 | 265 | |
Financial liabilities designated at fair value | 6,973 | 4,236 | |
Derivatives | 198 | 73 | |
Debt securities in issue | 14,964 | 12,799 | |
Accruals and other financial liabilities | 3,886 | 3,914 | |
Subordinated liabilities | 237 | 22 | |
Financial liabilities | 52,105 | 64,004 | |
Non-financial liabilities | 0 | 0 | |
Total liabilities | 52,105 | 64,004 | |
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 172 | 590 | |
Due over 3 months but not more than 6 months | HSBC Holdings | |||
Financial assets | |||
– balances with HSBC undertakings | 0 | 0 | |
Derivatives | 5 | 0 | |
Loans and advances to banks and other financial institutions | 120 | 120 | |
Financial assets with HSBC undertakings designated and otherwise mandatorily measured at fair value | 0 | 0 | |
Financial investments | 2,924 | 1,873 | |
Accrued income and other financial assets | 100 | 97 | |
Financial assets | 3,149 | 2,090 | |
Non-financial assets | 0 | 0 | |
Total assets | 3,149 | 2,090 | |
Financial liabilities | |||
Amounts owed to HSBC undertakings | 0 | 0 | |
Financial liabilities designated at fair value | 859 | 0 | |
Derivatives | 0 | 0 | |
Debt securities in issue | 1,621 | 0 | |
Accruals and other financial liabilities | 301 | 303 | |
Subordinated liabilities | 0 | 0 | |
Financial liabilities | 2,781 | 303 | |
Non-financial liabilities | 0 | 0 | |
Total liabilities | 2,781 | 303 | |
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 0 | 0 | |
Due over 3 months but not more than 6 months | Personal | |||
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 27 | 39 | |
Due over 3 months but not more than 6 months | Corporate and commercial | |||
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 138 | 96 | |
Due over 3 months but not more than 6 months | Financial | |||
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 7 | 455 | |
Due over 3 months but not more than 6 months | Debt securities in issue | HSBC Holdings | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 859 | 0 | |
Due over 3 months but not more than 6 months | – debt securities in issue: covered bonds | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 0 | 0 | |
Debt securities in issue | 28 | 0 | |
Due over 3 months but not more than 6 months | – debt securities in issue: unsecured | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 5,522 | 2,946 | |
Debt securities in issue | 13,935 | 12,551 | |
Due over 3 months but not more than 6 months | – subordinated liabilities and preferred securities | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 0 | 0 | |
Due over 3 months but not more than 6 months | – subordinated liabilities and preferred securities | HSBC Holdings | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 0 | 0 | |
Due over 3 months but not more than 6 months | – other | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 1,451 | 1,290 | |
Due over 3 months but not more than 6 months | – debt securities in issue: otherwise secured | |||
Financial liabilities | |||
Debt securities in issue | 1,001 | 248 | |
Due over 6 months but not more than 9 months | |||
Financial assets | |||
Cash and balances at central banks | 0 | 0 | |
Items in the course of collection from other banks | 0 | 0 | |
Hong Kong Government certificates of indebtedness | 0 | 0 | |
– trading assets | 135 | 62 | |
Financial assets designated or otherwise mandatorily measured at fair value | 262 | 200 | |
Derivatives | 14 | 27 | |
Loans and advances to banks and other financial institutions | 3,068 | 2,592 | |
Loans and advances to customers | 44,392 | 36,005 | |
– personal | 7,270 | 7,245 | |
– corporate and commercial | 31,529 | 25,006 | |
– financial | 5,593 | 3,754 | |
Reverse repurchase agreements – non-trading | 5,113 | 8,226 | |
Financial investments | 14,523 | 17,485 | |
Accrued income and other financial assets | 475 | 915 | |
Financial assets | 67,982 | 65,512 | |
Non-financial assets | 0 | 0 | |
Total assets | 67,982 | 65,512 | |
Off-balance sheet commitments received | |||
Loan and other credit-related commitments | 0 | 0 | |
Financial liabilities | |||
Hong Kong currency notes in circulation | 0 | 0 | |
Deposits from banks | 695 | 454 | |
Customer accounts | 9,375 | 11,530 | |
– personal | 6,276 | 8,484 | |
– corporate and commercial | 2,966 | 2,621 | |
– financial | 133 | 425 | |
Repurchase agreements – non-trading | 386 | 1,882 | |
Items in the course of transmission to other banks | 0 | 0 | |
Trading liabilities | 143 | 148 | |
Financial liabilities designated at fair value | 6,775 | 4,552 | |
Derivatives | 38 | 10 | |
Debt securities in issue | 9,764 | 13,152 | |
Accruals and other financial liabilities | 692 | 1,244 | |
Subordinated liabilities | 0 | 1,993 | |
Financial liabilities | 27,868 | 34,965 | |
Non-financial liabilities | 0 | 0 | |
Total liabilities | 27,868 | 34,965 | |
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 243 | 313 | |
Due over 6 months but not more than 9 months | HSBC Holdings | |||
Financial assets | |||
– balances with HSBC undertakings | 0 | 0 | |
Derivatives | 0 | 0 | |
Loans and advances to banks and other financial institutions | 0 | 25 | |
Financial assets with HSBC undertakings designated and otherwise mandatorily measured at fair value | 0 | 0 | |
Financial investments | 799 | 2,251 | |
Accrued income and other financial assets | 33 | 48 | |
Financial assets | 832 | 2,324 | |
Non-financial assets | 0 | 0 | |
Total assets | 832 | 2,324 | |
Financial liabilities | |||
Amounts owed to HSBC undertakings | 0 | 0 | |
Financial liabilities designated at fair value | 0 | 0 | |
Derivatives | 0 | 0 | |
Debt securities in issue | 563 | 0 | |
Accruals and other financial liabilities | 57 | 55 | |
Subordinated liabilities | 0 | 0 | |
Financial liabilities | 620 | 55 | |
Non-financial liabilities | 0 | 0 | |
Total liabilities | 620 | 55 | |
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 0 | 0 | |
Due over 6 months but not more than 9 months | Personal | |||
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 47 | 56 | |
Due over 6 months but not more than 9 months | Corporate and commercial | |||
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 194 | 52 | |
Due over 6 months but not more than 9 months | Financial | |||
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 2 | 205 | |
Due over 6 months but not more than 9 months | Debt securities in issue | HSBC Holdings | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 0 | 0 | |
Due over 6 months but not more than 9 months | – debt securities in issue: covered bonds | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 0 | 0 | |
Debt securities in issue | 0 | 0 | |
Due over 6 months but not more than 9 months | – debt securities in issue: unsecured | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 5,604 | 3,757 | |
Debt securities in issue | 8,764 | 12,991 | |
Due over 6 months but not more than 9 months | – subordinated liabilities and preferred securities | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 0 | 0 | |
Due over 6 months but not more than 9 months | – subordinated liabilities and preferred securities | HSBC Holdings | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 0 | 0 | |
Due over 6 months but not more than 9 months | – other | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 1,171 | 795 | |
Due over 6 months but not more than 9 months | – debt securities in issue: otherwise secured | |||
Financial liabilities | |||
Debt securities in issue | 1,000 | 161 | |
Due over 9 months but not more than 1 year | |||
Financial assets | |||
Cash and balances at central banks | 0 | 0 | |
Items in the course of collection from other banks | 0 | 0 | |
Hong Kong Government certificates of indebtedness | 0 | 0 | |
– trading assets | 67 | 452 | |
Financial assets designated or otherwise mandatorily measured at fair value | 454 | 422 | |
Derivatives | 14 | 22 | |
Loans and advances to banks and other financial institutions | 2,284 | 2,859 | |
Loans and advances to customers | 38,606 | 36,755 | |
– personal | 7,033 | 6,931 | |
– corporate and commercial | 28,553 | 25,069 | |
– financial | 3,020 | 4,755 | |
Reverse repurchase agreements – non-trading | 1,324 | 6,305 | |
Financial investments | 24,112 | 18,202 | |
Accrued income and other financial assets | 458 | 495 | |
Financial assets | 67,319 | 65,512 | |
Non-financial assets | 0 | 0 | |
Total assets | 67,319 | 65,512 | |
Off-balance sheet commitments received | |||
Loan and other credit-related commitments | 0 | 0 | |
Financial liabilities | |||
Hong Kong currency notes in circulation | 0 | 0 | |
Deposits from banks | 197 | 844 | |
Customer accounts | 8,418 | 11,342 | |
– personal | 5,825 | 6,852 | |
– corporate and commercial | 2,058 | 3,009 | |
– financial | 535 | 1,481 | |
Repurchase agreements – non-trading | 675 | 59 | |
Items in the course of transmission to other banks | 0 | 0 | |
Trading liabilities | 185 | 102 | |
Financial liabilities designated at fair value | 6,593 | 5,196 | |
Derivatives | 55 | 18 | |
Debt securities in issue | 3,878 | 11,382 | |
Accruals and other financial liabilities | 1,174 | 2,058 | |
Subordinated liabilities | 12 | 100 | |
Financial liabilities | 21,187 | 31,101 | |
Non-financial liabilities | 0 | 0 | |
Total liabilities | 21,187 | 31,101 | |
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 296 | 551 | |
Due over 9 months but not more than 1 year | HSBC Holdings | |||
Financial assets | |||
– balances with HSBC undertakings | 0 | 0 | |
Derivatives | 0 | 0 | |
Loans and advances to banks and other financial institutions | 0 | 0 | |
Financial assets with HSBC undertakings designated and otherwise mandatorily measured at fair value | 0 | 0 | |
Financial investments | 3,528 | 2,721 | |
Accrued income and other financial assets | 22 | 16 | |
Financial assets | 3,550 | 2,737 | |
Non-financial assets | 0 | 0 | |
Total assets | 3,550 | 2,737 | |
Financial liabilities | |||
Amounts owed to HSBC undertakings | 0 | 0 | |
Financial liabilities designated at fair value | 0 | 0 | |
Derivatives | 0 | 0 | |
Debt securities in issue | 0 | 0 | |
Accruals and other financial liabilities | 12 | 10 | |
Subordinated liabilities | 0 | 0 | |
Financial liabilities | 12 | 10 | |
Non-financial liabilities | 0 | 0 | |
Total liabilities | 12 | 10 | |
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 0 | 0 | |
Due over 9 months but not more than 1 year | Personal | |||
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 115 | 167 | |
Due over 9 months but not more than 1 year | Corporate and commercial | |||
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 178 | 381 | |
Due over 9 months but not more than 1 year | Financial | |||
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 3 | 3 | |
Due over 9 months but not more than 1 year | Debt securities in issue | HSBC Holdings | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 0 | 0 | |
Due over 9 months but not more than 1 year | – debt securities in issue: covered bonds | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 0 | 1,139 | |
Debt securities in issue | 750 | 0 | |
Due over 9 months but not more than 1 year | – debt securities in issue: unsecured | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 5,530 | 3,030 | |
Debt securities in issue | 3,128 | 11,382 | |
Due over 9 months but not more than 1 year | – subordinated liabilities and preferred securities | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 0 | 0 | |
Due over 9 months but not more than 1 year | – subordinated liabilities and preferred securities | HSBC Holdings | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 0 | 0 | |
Due over 9 months but not more than 1 year | – other | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 1,063 | 1,027 | |
Due over 9 months but not more than 1 year | – debt securities in issue: otherwise secured | |||
Financial liabilities | |||
Debt securities in issue | 0 | 0 | |
Due over 1 year but not more than 2 years | |||
Financial assets | |||
Cash and balances at central banks | 0 | 0 | |
Items in the course of collection from other banks | 0 | 0 | |
Hong Kong Government certificates of indebtedness | 0 | 0 | |
– trading assets | 644 | 152 | |
Financial assets designated or otherwise mandatorily measured at fair value | 1,424 | 780 | |
Derivatives | 441 | 112 | |
Loans and advances to banks and other financial institutions | 4,059 | 6,848 | |
Loans and advances to customers | 112,440 | 106,203 | |
– personal | 26,318 | 22,923 | |
– corporate and commercial | 76,225 | 71,751 | |
– financial | 9,897 | 11,529 | |
Reverse repurchase agreements – non-trading | 3,058 | 2,298 | |
Financial investments | 48,741 | 48,427 | |
Accrued income and other financial assets | 267 | 432 | |
Financial assets | 171,074 | 165,252 | |
Non-financial assets | 0 | 0 | |
Total assets | 171,074 | 165,252 | |
Off-balance sheet commitments received | |||
Loan and other credit-related commitments | 0 | 0 | |
Financial liabilities | |||
Hong Kong currency notes in circulation | 0 | 0 | |
Deposits from banks | 718 | 2,455 | |
Customer accounts | 4,467 | 5,275 | |
– personal | 3,591 | 3,631 | |
– corporate and commercial | 627 | 1,119 | |
– financial | 249 | 525 | |
Repurchase agreements – non-trading | 16 | 354 | |
Items in the course of transmission to other banks | 0 | 0 | |
Trading liabilities | 289 | 287 | |
Financial liabilities designated at fair value | 14,182 | 26,081 | |
Derivatives | 237 | 68 | |
Debt securities in issue | 9,215 | 14,572 | |
Accruals and other financial liabilities | 1,742 | 1,592 | |
Subordinated liabilities | 12 | 755 | |
Financial liabilities | 30,878 | 51,439 | |
Non-financial liabilities | 0 | 0 | |
Total liabilities | 30,878 | 51,439 | |
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 180 | 442 | |
Due over 1 year but not more than 2 years | HSBC Holdings | |||
Financial assets | |||
– balances with HSBC undertakings | 0 | 0 | |
Derivatives | 9 | 0 | |
Loans and advances to banks and other financial institutions | 312 | 600 | |
Financial assets with HSBC undertakings designated and otherwise mandatorily measured at fair value | 4,320 | 458 | |
Financial investments | 2,764 | 3,014 | |
Accrued income and other financial assets | 0 | 12 | |
Financial assets | 7,405 | 4,084 | |
Non-financial assets | 0 | 0 | |
Total assets | 7,405 | 4,084 | |
Financial liabilities | |||
Amounts owed to HSBC undertakings | 0 | 0 | |
Financial liabilities designated at fair value | 3,088 | 5,651 | |
Derivatives | 0 | 20 | |
Debt securities in issue | 2,186 | 10,134 | |
Accruals and other financial liabilities | 0 | 0 | |
Subordinated liabilities | 0 | 0 | |
Financial liabilities | 5,274 | 15,805 | |
Non-financial liabilities | 0 | 0 | |
Total liabilities | 5,274 | 15,805 | |
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 0 | 0 | |
Due over 1 year but not more than 2 years | Personal | |||
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 125 | 208 | |
Due over 1 year but not more than 2 years | Corporate and commercial | |||
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 37 | 218 | |
Due over 1 year but not more than 2 years | Financial | |||
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 18 | 16 | |
Due over 1 year but not more than 2 years | Debt securities in issue | HSBC Holdings | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 3,088 | 5,651 | |
Due over 1 year but not more than 2 years | – debt securities in issue: covered bonds | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 1,239 | 0 | |
Debt securities in issue | 1,275 | 749 | |
Due over 1 year but not more than 2 years | – debt securities in issue: unsecured | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 10,455 | 22,950 | |
Debt securities in issue | 7,666 | 13,604 | |
Due over 1 year but not more than 2 years | – subordinated liabilities and preferred securities | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 0 | 0 | |
Due over 1 year but not more than 2 years | – subordinated liabilities and preferred securities | HSBC Holdings | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 0 | 0 | |
Due over 1 year but not more than 2 years | – other | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 2,488 | 3,131 | |
Due over 1 year but not more than 2 years | – debt securities in issue: otherwise secured | |||
Financial liabilities | |||
Debt securities in issue | 274 | 219 | |
Due over 2 years but not more than 5 years | |||
Financial assets | |||
Cash and balances at central banks | 0 | 0 | |
Items in the course of collection from other banks | 0 | 0 | |
Hong Kong Government certificates of indebtedness | 0 | 0 | |
– trading assets | 474 | 540 | |
Financial assets designated or otherwise mandatorily measured at fair value | 1,992 | 2,356 | |
Derivatives | 424 | 294 | |
Loans and advances to banks and other financial institutions | 3,359 | 2,005 | |
Loans and advances to customers | 206,448 | 227,811 | |
– personal | 70,447 | 66,761 | |
– corporate and commercial | 125,393 | 147,139 | |
– financial | 10,608 | 13,911 | |
Reverse repurchase agreements – non-trading | 2,586 | 2,362 | |
Financial investments | 100,007 | 90,193 | |
Accrued income and other financial assets | 444 | 363 | |
Financial assets | 315,734 | 325,924 | |
Non-financial assets | 0 | 0 | |
Total assets | 315,734 | 325,924 | |
Off-balance sheet commitments received | |||
Loan and other credit-related commitments | 0 | 0 | |
Financial liabilities | |||
Hong Kong currency notes in circulation | 0 | 0 | |
Deposits from banks | 16,757 | 876 | |
Customer accounts | 2,859 | 4,075 | |
– personal | 1,976 | 2,646 | |
– corporate and commercial | 777 | 1,388 | |
– financial | 106 | 41 | |
Repurchase agreements – non-trading | 1,035 | 2 | |
Items in the course of transmission to other banks | 0 | 0 | |
Trading liabilities | 72 | 29 | |
Financial liabilities designated at fair value | 40,510 | 43,534 | |
Derivatives | 726 | 540 | |
Debt securities in issue | 16,618 | 20,048 | |
Accruals and other financial liabilities | 3,179 | 2,823 | |
Subordinated liabilities | 2,658 | 424 | |
Financial liabilities | 84,414 | 72,351 | |
Non-financial liabilities | 0 | 0 | |
Total liabilities | 84,414 | 72,351 | |
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 299 | 458 | |
Due over 2 years but not more than 5 years | HSBC Holdings | |||
Financial assets | |||
– balances with HSBC undertakings | 0 | 0 | |
Derivatives | 1,131 | 230 | |
Loans and advances to banks and other financial institutions | 6,027 | 1,909 | |
Financial assets with HSBC undertakings designated and otherwise mandatorily measured at fair value | 23,203 | 24,845 | |
Financial investments | 0 | 0 | |
Accrued income and other financial assets | 0 | 0 | |
Financial assets | 30,361 | 26,984 | |
Non-financial assets | 0 | 0 | |
Total assets | 30,361 | 26,984 | |
Financial liabilities | |||
Amounts owed to HSBC undertakings | 0 | 0 | |
Financial liabilities designated at fair value | 3,810 | 6,710 | |
Derivatives | 0 | 85 | |
Debt securities in issue | 24,489 | 23,786 | |
Accruals and other financial liabilities | 1 | 0 | |
Subordinated liabilities | 4,067 | 2,076 | |
Financial liabilities | 32,367 | 32,657 | |
Non-financial liabilities | 0 | 0 | |
Total liabilities | 32,367 | 32,657 | |
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 0 | 0 | |
Due over 2 years but not more than 5 years | Personal | |||
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 288 | 392 | |
Due over 2 years but not more than 5 years | Corporate and commercial | |||
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 11 | 66 | |
Due over 2 years but not more than 5 years | Financial | |||
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 0 | 0 | |
Due over 2 years but not more than 5 years | Debt securities in issue | HSBC Holdings | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 2,108 | 6,710 | |
Due over 2 years but not more than 5 years | – debt securities in issue: covered bonds | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 2,918 | 2,663 | |
Debt securities in issue | 999 | 998 | |
Due over 2 years but not more than 5 years | – debt securities in issue: unsecured | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 31,710 | 34,753 | |
Debt securities in issue | 13,979 | 18,092 | |
Due over 2 years but not more than 5 years | – subordinated liabilities and preferred securities | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 3,912 | 2,131 | |
Due over 2 years but not more than 5 years | – subordinated liabilities and preferred securities | HSBC Holdings | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 1,702 | 0 | |
Due over 2 years but not more than 5 years | – other | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 1,970 | 3,987 | |
Due over 2 years but not more than 5 years | – debt securities in issue: otherwise secured | |||
Financial liabilities | |||
Debt securities in issue | 1,640 | 958 | |
More than 5 years | |||
Financial assets | |||
Cash and balances at central banks | 0 | 0 | |
Items in the course of collection from other banks | 0 | 0 | |
Hong Kong Government certificates of indebtedness | 0 | 0 | |
– trading assets | 0 | 0 | |
Financial assets designated or otherwise mandatorily measured at fair value | 37,654 | 34,568 | |
Derivatives | 245 | 425 | |
Loans and advances to banks and other financial institutions | 271 | 642 | |
Loans and advances to customers | 327,211 | 295,661 | |
– personal | 275,736 | 252,275 | |
– corporate and commercial | 47,446 | 39,958 | |
– financial | 4,029 | 3,428 | |
Reverse repurchase agreements – non-trading | 0 | 0 | |
Financial investments | 134,335 | 132,610 | |
Accrued income and other financial assets | 2,107 | 2,037 | |
Financial assets | 501,823 | 465,943 | |
Non-financial assets | 103,413 | 93,725 | |
Total assets | 605,236 | 559,668 | |
Off-balance sheet commitments received | |||
Loan and other credit-related commitments | 0 | 0 | |
Financial liabilities | |||
Hong Kong currency notes in circulation | 0 | 0 | |
Deposits from banks | 630 | 1,056 | |
Customer accounts | 122 | 154 | |
– personal | 39 | 71 | |
– corporate and commercial | 37 | 41 | |
– financial | 46 | 42 | |
Repurchase agreements – non-trading | 1,012 | 1,024 | |
Items in the course of transmission to other banks | 0 | 0 | |
Trading liabilities | 1 | 0 | |
Financial liabilities designated at fair value | 56,639 | 63,356 | |
Derivatives | 581 | 782 | |
Debt securities in issue | 22,172 | 7,045 | |
Accruals and other financial liabilities | 3,053 | 2,890 | |
Subordinated liabilities | 18,413 | 19,804 | |
Financial liabilities | 102,623 | 96,111 | |
Non-financial liabilities | 124,155 | 113,123 | |
Total liabilities | 226,778 | 209,234 | |
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 171 | 318 | |
More than 5 years | HSBC Holdings | |||
Financial assets | |||
– balances with HSBC undertakings | 0 | 0 | |
Derivatives | 2,080 | 1,176 | |
Loans and advances to banks and other financial institutions | 3,384 | 6,790 | |
Financial assets with HSBC undertakings designated and otherwise mandatorily measured at fair value | 37,279 | 36,661 | |
Financial investments | 0 | 0 | |
Accrued income and other financial assets | 0 | 0 | |
Financial assets | 42,743 | 44,627 | |
Non-financial assets | 160,936 | 162,025 | |
Total assets | 203,679 | 206,652 | |
Financial liabilities | |||
Amounts owed to HSBC undertakings | 0 | 0 | |
Financial liabilities designated at fair value | 16,923 | 17,942 | |
Derivatives | 8 | 78 | |
Debt securities in issue | 34,667 | 22,924 | |
Accruals and other financial liabilities | 36 | 35 | |
Subordinated liabilities | 13,849 | 14,782 | |
Financial liabilities | 65,483 | 55,761 | |
Non-financial liabilities | 509 | 326 | |
Total liabilities | 65,992 | 56,087 | |
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 0 | 0 | |
More than 5 years | Personal | |||
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 171 | 299 | |
More than 5 years | Corporate and commercial | |||
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 0 | 19 | |
More than 5 years | Financial | |||
Off-balance sheet commitments given | |||
Loan and other credit-related commitments | 0 | 0 | |
More than 5 years | Debt securities in issue | HSBC Holdings | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 12,585 | 12,326 | |
More than 5 years | – debt securities in issue: covered bonds | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 0 | 1,159 | |
Debt securities in issue | 0 | 0 | |
More than 5 years | – debt securities in issue: unsecured | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 42,825 | 47,036 | |
Debt securities in issue | 20,582 | 5,382 | |
More than 5 years | – subordinated liabilities and preferred securities | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 6,932 | 8,396 | |
More than 5 years | – subordinated liabilities and preferred securities | HSBC Holdings | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 4,338 | 5,616 | |
More than 5 years | – other | |||
Financial liabilities | |||
Financial liabilities designated at fair value | 6,882 | 6,765 | |
More than 5 years | – debt securities in issue: otherwise secured | |||
Financial liabilities | |||
Debt securities in issue | $ 1,590 | $ 1,663 |
Maturity analysis of assets, _4
Maturity analysis of assets, liabilities and off-balance sheet commitments - Cash flows payable by HSBC under financial liabilities by remaining contractual maturities (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Deposits by banks | $ 82,066 | $ 59,320 |
Customer accounts | 1,644,021 | 1,441,810 |
Repurchase agreements – non-trading | 111,980 | 140,528 |
Trading liabilities | 75,266 | 83,170 |
Financial liabilities designated at fair value | 160,924 | 177,060 |
Derivatives | 305,051 | 241,291 |
Debt securities in issue | 101,642 | 109,315 |
Subordinated liabilities | 37,847 | 37,844 |
Other financial liabilities | 162,244 | 152,398 |
Cash flows payable under financial liabilities | 2,681,041 | 2,442,736 |
Loan and other credit-related commitments | 844,770 | 797,608 |
Financial guarantees | 18,384 | 20,214 |
Cash flows payable under financial liabilities and other contractual commitments | 3,544,195 | 3,260,558 |
Due not more than 1 month | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Deposits by banks | 61,001 | 46,471 |
Customer accounts | 1,530,584 | 1,288,577 |
Repurchase agreements – non-trading | 102,664 | 132,156 |
Trading liabilities | 75,266 | 83,170 |
Financial liabilities designated at fair value | 18,815 | 13,447 |
Derivatives | 300,158 | 237,897 |
Debt securities in issue | 6,551 | 8,757 |
Subordinated liabilities | 739 | 1,847 |
Other financial liabilities | 140,094 | 127,898 |
Cash flows payable under financial liabilities | 2,235,872 | 1,940,220 |
Loan and other credit-related commitments | 842,945 | 795,243 |
Financial guarantees | 18,200 | 20,007 |
Cash flows payable under financial liabilities and other contractual commitments | $ 3,097,017 | $ 2,755,470 |
Proportion of cash flows payable in period | 87.00% | 85.00% |
Due over 1 month but not more than 3 months | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Deposits by banks | $ 1,442 | $ 4,167 |
Customer accounts | 64,809 | 81,037 |
Repurchase agreements – non-trading | 3,984 | 3,403 |
Trading liabilities | 0 | 0 |
Financial liabilities designated at fair value | 7,556 | 4,666 |
Derivatives | 356 | 105 |
Debt securities in issue | 12,709 | 17,374 |
Subordinated liabilities | 170 | 0 |
Other financial liabilities | 9,120 | 9,079 |
Cash flows payable under financial liabilities | 100,146 | 119,831 |
Loan and other credit-related commitments | 434 | 601 |
Financial guarantees | 13 | 37 |
Cash flows payable under financial liabilities and other contractual commitments | $ 100,593 | $ 120,469 |
Proportion of cash flows payable in period | 3.00% | 4.00% |
Due over 3 months but not more than 1 year | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Deposits by banks | $ 1,639 | $ 4,227 |
Customer accounts | 40,755 | 62,105 |
Repurchase agreements – non-trading | 3,257 | 3,565 |
Trading liabilities | 0 | 0 |
Financial liabilities designated at fair value | 19,243 | 14,747 |
Derivatives | 579 | 522 |
Debt securities in issue | 29,520 | 38,423 |
Subordinated liabilities | 1,102 | 2,908 |
Other financial liabilities | 5,113 | 6,792 |
Cash flows payable under financial liabilities | 101,208 | 133,289 |
Loan and other credit-related commitments | 740 | 561 |
Financial guarantees | 93 | 102 |
Cash flows payable under financial liabilities and other contractual commitments | $ 102,041 | $ 133,952 |
Proportion of cash flows payable in period | 3.00% | 4.00% |
Due over 1 year but not more than 5 years | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Deposits by banks | $ 17,352 | $ 3,371 |
Customer accounts | 7,720 | 9,900 |
Repurchase agreements – non-trading | 1,058 | 368 |
Trading liabilities | 0 | 0 |
Financial liabilities designated at fair value | 59,835 | 76,155 |
Derivatives | 1,830 | 1,076 |
Debt securities in issue | 28,787 | 36,584 |
Subordinated liabilities | 7,024 | 5,197 |
Other financial liabilities | 5,030 | 5,637 |
Cash flows payable under financial liabilities | 128,636 | 138,288 |
Loan and other credit-related commitments | 480 | 886 |
Financial guarantees | 37 | 68 |
Cash flows payable under financial liabilities and other contractual commitments | $ 129,153 | $ 139,242 |
Proportion of cash flows payable in period | 4.00% | 4.00% |
More than 5 years | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Deposits by banks | $ 632 | $ 1,084 |
Customer accounts | 153 | 191 |
Repurchase agreements – non-trading | 1,017 | 1,036 |
Trading liabilities | 0 | 0 |
Financial liabilities designated at fair value | 55,475 | 68,045 |
Derivatives | 2,128 | 1,691 |
Debt securities in issue | 24,075 | 8,177 |
Subordinated liabilities | 28,812 | 27,892 |
Other financial liabilities | 2,887 | 2,992 |
Cash flows payable under financial liabilities | 115,179 | 111,108 |
Loan and other credit-related commitments | 171 | 317 |
Financial guarantees | 41 | 0 |
Cash flows payable under financial liabilities and other contractual commitments | $ 115,391 | $ 111,425 |
Proportion of cash flows payable in period | 3.00% | 3.00% |
HSBC Holdings | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Amounts owed to HSBC undertakings | $ 330 | $ 464 |
Financial liabilities designated at fair value | 27,805 | 34,000 |
Derivatives | 3,087 | 2,021 |
Debt securities in issue | 72,919 | 65,509 |
Subordinated liabilities | 30,029 | 29,736 |
Other financial liabilities | 4,865 | 1,840 |
Cash flows payable under financial liabilities | 139,035 | 133,570 |
Loan and other credit-related commitments | 0 | 0 |
Financial guarantees | 13,787 | 11,061 |
Cash flows payable under financial liabilities and other contractual commitments | 152,822 | 144,631 |
HSBC Holdings | Due not more than 1 month | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Amounts owed to HSBC undertakings | 0 | 0 |
Financial liabilities designated at fair value | 70 | 88 |
Derivatives | 3,085 | 1,838 |
Debt securities in issue | 135 | 128 |
Subordinated liabilities | 82 | 1,588 |
Other financial liabilities | 3,769 | 956 |
Cash flows payable under financial liabilities | 7,141 | 4,598 |
Loan and other credit-related commitments | 0 | 0 |
Financial guarantees | 13,787 | 11,061 |
Cash flows payable under financial liabilities and other contractual commitments | 20,928 | 15,659 |
HSBC Holdings | Due over 1 month but not more than 3 months | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Amounts owed to HSBC undertakings | 330 | 464 |
Financial liabilities designated at fair value | 1,109 | 168 |
Derivatives | 0 | 0 |
Debt securities in issue | 760 | 244 |
Subordinated liabilities | 156 | 154 |
Other financial liabilities | 690 | 519 |
Cash flows payable under financial liabilities | 3,045 | 1,549 |
Loan and other credit-related commitments | 0 | 0 |
Financial guarantees | 0 | 0 |
Cash flows payable under financial liabilities and other contractual commitments | 3,045 | 1,549 |
HSBC Holdings | Due over 3 months but not more than 1 year | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Amounts owed to HSBC undertakings | 0 | 0 |
Financial liabilities designated at fair value | 1,412 | 784 |
Derivatives | 2 | 0 |
Debt securities in issue | 3,354 | 1,137 |
Subordinated liabilities | 726 | 718 |
Other financial liabilities | 370 | 365 |
Cash flows payable under financial liabilities | 5,864 | 3,004 |
Loan and other credit-related commitments | 0 | 0 |
Financial guarantees | 0 | 0 |
Cash flows payable under financial liabilities and other contractual commitments | 5,864 | 3,004 |
HSBC Holdings | Due over 1 year but not more than 5 years | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Amounts owed to HSBC undertakings | 0 | 0 |
Financial liabilities designated at fair value | 9,110 | 14,776 |
Derivatives | 0 | 105 |
Debt securities in issue | 31,567 | 38,690 |
Subordinated liabilities | 7,513 | 5,743 |
Other financial liabilities | 0 | 0 |
Cash flows payable under financial liabilities | 48,190 | 59,314 |
Loan and other credit-related commitments | 0 | 0 |
Financial guarantees | 0 | 0 |
Cash flows payable under financial liabilities and other contractual commitments | 48,190 | 59,314 |
HSBC Holdings | More than 5 years | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Amounts owed to HSBC undertakings | 0 | 0 |
Financial liabilities designated at fair value | 16,104 | 18,184 |
Derivatives | 0 | 78 |
Debt securities in issue | 37,103 | 25,310 |
Subordinated liabilities | 21,552 | 21,533 |
Other financial liabilities | 36 | 0 |
Cash flows payable under financial liabilities | 74,795 | 65,105 |
Loan and other credit-related commitments | 0 | 0 |
Financial guarantees | 0 | 0 |
Cash flows payable under financial liabilities and other contractual commitments | $ 74,795 | $ 65,105 |
Offsetting of financial asset_3
Offsetting of financial assets and financial liabilities (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Financial assets | |||
Financial assets | $ 2,880,751 | $ 2,621,427 | |
Financial liabilities | |||
Financial liabilities | 2,655,014 | 2,409,361 | |
Loans and advances to customers | 1,037,987 | 1,036,743 | $ 981,696 |
Customer accounts | 1,642,780 | 1,439,115 | $ 1,362,643 |
Financial Liabilities Subject To Offsetting | |||
Financial liabilities | |||
Gross amounts | 622,923 | 555,205 | |
Amounts offset | (196,124) | (186,919) | |
Net amounts in the balance sheet | 426,799 | 368,286 | |
Financial instruments | (262,434) | (220,643) | |
Non-cash collateral | (107,985) | (97,431) | |
Cash collateral | (37,558) | (38,201) | |
Net amount | 18,822 | 12,011 | |
Amounts not subject to enforceable netting arrangements | 34,735 | 48,468 | |
Financial liabilities | 461,534 | 416,754 | |
Derivatives | |||
Financial liabilities | |||
Gross amounts | 364,121 | 275,286 | |
Amounts offset | (69,103) | (41,739) | |
Net amounts in the balance sheet | 295,018 | 233,547 | |
Financial instruments | (230,758) | (171,371) | |
Non-cash collateral | (21,387) | (20,137) | |
Cash collateral | (37,343) | (37,844) | |
Net amount | 5,530 | 4,195 | |
Amounts not subject to enforceable netting arrangements | 7,983 | 5,950 | |
Financial liabilities | 303,001 | 239,497 | |
Cash margins pledged | 17,955 | 8,303 | |
Trading liabilities | |||
Financial liabilities | |||
Gross amounts | 16,626 | 10,494 | |
Amounts offset | (461) | (280) | |
Net amounts in the balance sheet | 16,165 | 10,214 | |
Financial instruments | (709) | (1,553) | |
Non-cash collateral | (15,456) | (8,656) | |
Cash collateral | 0 | 0 | |
Net amount | 0 | 5 | |
Amounts not subject to enforceable netting arrangements | 159 | 46 | |
Financial liabilities | 16,324 | 10,260 | |
Non-trading liabilities | |||
Financial liabilities | |||
Gross amounts | 200,999 | 232,675 | |
Amounts offset | (115,678) | (134,772) | |
Net amounts in the balance sheet | 85,321 | 97,903 | |
Financial instruments | (13,936) | (28,826) | |
Non-cash collateral | (71,142) | (68,638) | |
Cash collateral | (215) | (357) | |
Net amount | 28 | 82 | |
Amounts not subject to enforceable netting arrangements | 26,580 | 42,441 | |
Financial liabilities | 111,901 | 140,344 | |
Customer accounts | |||
Financial liabilities | |||
Gross amounts | 41,177 | 36,750 | |
Amounts offset | (10,882) | (10,128) | |
Net amounts in the balance sheet | 30,295 | 26,622 | |
Financial instruments | (17,031) | (18,893) | |
Non-cash collateral | 0 | 0 | |
Cash collateral | 0 | 0 | |
Net amount | 13,264 | 7,729 | |
Amounts not subject to enforceable netting arrangements | 13 | 31 | |
Financial liabilities | 30,308 | 26,653 | |
Financial Assets Subject To Offsetting | |||
Financial assets | |||
Gross amounts | 738,668 | 680,326 | |
Amounts offset | (196,124) | (186,919) | |
Net amounts in the balance sheet | 542,544 | 493,407 | |
Financial instruments | (262,434) | (220,643) | |
Non-cash collateral | (222,442) | (217,220) | |
Cash collateral | (48,227) | (47,593) | |
Net amount | 9,441 | 7,951 | |
Amounts not subject to enforceable netting arrangements | 38,992 | 35,922 | |
Financial assets | 581,536 | 529,329 | |
Derivatives | |||
Financial assets | |||
Gross amounts | 368,057 | 277,261 | |
Amounts offset | (69,103) | (41,739) | |
Net amounts in the balance sheet | 298,954 | 235,522 | |
Financial instruments | (230,758) | (171,371) | |
Non-cash collateral | (13,766) | (13,095) | |
Cash collateral | (48,154) | (47,404) | |
Net amount | 6,276 | 3,652 | |
Amounts not subject to enforceable netting arrangements | 8,772 | 7,473 | |
Financial assets | 307,726 | 242,995 | |
Financial liabilities | |||
Cash margins received | 7,899 | 2,350 | |
Trading assets | |||
Financial assets | |||
Gross amounts | 21,204 | 21,465 | |
Amounts offset | (461) | (280) | |
Net amounts in the balance sheet | 20,743 | 21,185 | |
Financial instruments | (709) | (1,553) | |
Non-cash collateral | (20,030) | (19,630) | |
Cash collateral | 0 | 0 | |
Net amount | 4 | 2 | |
Amounts not subject to enforceable netting arrangements | 1,534 | 165 | |
Financial assets | 22,277 | 21,350 | |
Non-trading assets | |||
Financial assets | |||
Gross amounts | 318,424 | 348,561 | |
Amounts offset | (115,678) | (134,772) | |
Net amounts in the balance sheet | 202,746 | 213,789 | |
Financial instruments | (13,936) | (28,826) | |
Non-cash collateral | (188,646) | (184,495) | |
Cash collateral | (73) | (189) | |
Net amount | 91 | 279 | |
Amounts not subject to enforceable netting arrangements | 28,258 | 27,549 | |
Financial assets | 231,004 | 241,338 | |
Loans and advances to customers | |||
Financial assets | |||
Gross amounts | 30,983 | 33,039 | |
Amounts offset | (10,882) | (10,128) | |
Net amounts in the balance sheet | 20,101 | 22,911 | |
Financial instruments | (17,031) | (18,893) | |
Non-cash collateral | 0 | 0 | |
Cash collateral | 0 | 0 | |
Net amount | 3,070 | 4,018 | |
Amounts not subject to enforceable netting arrangements | 428 | 735 | |
Financial assets | $ 20,529 | $ 23,646 |
Called up share capital and o_3
Called up share capital and other equity instruments - Called up share capital and share premium (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Reconciliation of Issued Capital [Roll Forward] | ||||
Issued capital at beginning of period | $ 10,319 | |||
Shares issued under HSBC employee share plans | 434 | $ 478 | $ 450 | |
Shares issued in lieu of dividends | 2,687 | 1,494 | ||
Issued capital at end of period | 10,347 | 10,319 | ||
Share premium account | 14,277 | 13,959 | ||
Total equity | $ 204,995 | $ 192,668 | $ 194,249 | $ 196,224 |
Ordinary shares | ||||
Reconciliation of number of shares outstanding [abstract] | ||||
Number of shares outstanding ending balance (in shares) | 20,638,524,545 | 20,360,841,496 | ||
Shares issued under HSBC employee share plans (in shares) | 55,096,555 | 71,588,032 | ||
Shares issued in lieu of dividends (in shares) | 0 | 341,872,011 | ||
Less: Shares repurchased and cancelled (in shares) | 0 | (135,776,994) | ||
Number of shares outstanding ending balance (in shares) | 20,693,621,100 | 20,638,524,545 | 20,360,841,496 | |
Reconciliation of Issued Capital [Roll Forward] | ||||
Issued capital at beginning of period | $ 10,319 | $ 10,180 | ||
Shares issued under HSBC employee share plans | 28 | 36 | ||
Shares issued in lieu of dividends | 0 | 171 | ||
Less: Shares repurchased and cancelled | 0 | (68) | ||
Issued capital at end of period | $ 10,347 | $ 10,319 | $ 10,180 | |
Preference shares | ||||
Reconciliation of number of shares outstanding [abstract] | ||||
Number of shares outstanding ending balance (in shares) | 1,450,000 | |||
Number of shares outstanding ending balance (in shares) | 1,450,000 | 1,450,000 | ||
Reconciliation of Issued Capital [Roll Forward] | ||||
Issued capital at beginning of period | $ 0 | |||
Issued capital at end of period | 0 | $ 0 | ||
Called up share capital and share premium | ||||
Reconciliation of Issued Capital [Roll Forward] | ||||
Total equity | $ 24,624 | $ 24,278 | $ 23,789 | 20,337 |
Treasury shares | ||||
Reconciliation of number of shares outstanding [abstract] | ||||
Number of shares outstanding ending balance (in shares) | 432,108,782 | 379,926,645 | ||
Number of shares outstanding ending balance (in shares) | 509,825,249 | 432,108,782 | 379,926,645 | |
HSBC Holdings | ||||
Reconciliation of Issued Capital [Roll Forward] | ||||
Issued capital at beginning of period | $ 10,319 | |||
Shares issued in lieu of dividends | $ 2,687 | $ 1,494 | ||
Issued capital at end of period | 10,347 | 10,319 | ||
Share premium account | 14,277 | 13,959 | ||
Total equity | $ 146,800 | $ 145,044 | $ 147,353 | $ 104,677 |
HSBC Holdings | Treasury shares | ||||
Reconciliation of number of shares outstanding [abstract] | ||||
Number of shares outstanding ending balance (in shares) | 326,191,804 | 326,503,319 | ||
Number of shares outstanding ending balance (in shares) | 326,766,253 | 326,191,804 | 326,503,319 | |
Reconciliation of Issued Capital [Roll Forward] | ||||
Total equity | $ 2,521 | $ 2,543 | $ 2,546 | |
Number of shares outstanding, buyback program (in shares) | 325,273,407 |
Called up share capital and o_4
Called up share capital and other equity instruments - Called up share capital and other equity instruments (commentary) (Details) | Dec. 31, 2020£ / shares | Dec. 31, 2020$ / shares |
Preference shares | ||
Disclosure of classes of share capital [line items] | ||
Other equity instruments interest rate | 6.20% | 6.20% |
Par value per share (in dollars per share) | $ / shares | $ 0.01 | |
Sterling preference shares | ||
Disclosure of classes of share capital [line items] | ||
Par value per share (in dollars per share) | £ / shares | £ 0.01 |
Called up share capital and o_5
Called up share capital and other equity instruments - Additional tier 1 capital - contingent convertible securities (Details) - Contingent convertible securities | 12 Months Ended |
Dec. 31, 2020£ / shares | |
Disclosure Of Other Equity [Line Items] | |
Fixed interest rate, period increments | 5 years |
Conversion threshold, common equity tier 1 percentage | 7.00% |
Par value per share upon conversion (in dollars per share) | £ 2.70 |
Called up share capital and o_6
Called up share capital and other equity instruments - HSBC's additional tier 1 capital - contingent convertible securities in issue which are accounted for in equity (Details) | Dec. 31, 2020USD ($) | Dec. 31, 2020GBP (£) | Dec. 31, 2020SGD ($) | Dec. 31, 2020EUR (€) | Dec. 31, 2019USD ($) |
Disclosure Of Other Equity [Line Items] | |||||
Other equity instruments | $ 22,414,000,000 | $ 20,871,000,000 | |||
$1,500m 5.625% Perpetual Subordinated Contingent Convertible Securities | |||||
Disclosure Of Other Equity [Line Items] | |||||
Notional amount | $ 1,500 | ||||
Other equity instruments interest rate | 5.625% | 5.625% | 5.625% | 5.625% | |
$2,000m 6.875% Perpetual Subordinated Contingent Convertible Securities | |||||
Disclosure Of Other Equity [Line Items] | |||||
Notional amount | $ 2,000 | ||||
Other equity instruments interest rate | 6.875% | 6.875% | 6.875% | 6.875% | |
$2,250m 6.375% Perpetual Subordinated Contingent Convertible Securities | |||||
Disclosure Of Other Equity [Line Items] | |||||
Notional amount | $ 2,250 | ||||
Other equity instruments interest rate | 6.375% | 6.375% | 6.375% | 6.375% | |
$2,450m 6.375% Perpetual Subordinated Contingent Convertible Securities | |||||
Disclosure Of Other Equity [Line Items] | |||||
Notional amount | $ 2,450 | ||||
Other equity instruments interest rate | 6.375% | 6.375% | 6.375% | 6.375% | |
$3,000m 6.000% Perpetual Subordinated Contingent Convertible Securities | |||||
Disclosure Of Other Equity [Line Items] | |||||
Notional amount | $ 3,000 | ||||
Other equity instruments interest rate | 6.00% | 6.00% | 6.00% | 6.00% | |
$2,350m 6.250% Perpetual Subordinated Contingent Convertible Securities | |||||
Disclosure Of Other Equity [Line Items] | |||||
Notional amount | $ 2,350 | ||||
Other equity instruments interest rate | 6.25% | 6.25% | 6.25% | 6.25% | |
$1,800m 6.500% Perpetual Subordinated Contingent Convertible Securities | |||||
Disclosure Of Other Equity [Line Items] | |||||
Notional amount | $ 1,800 | ||||
Other equity instruments interest rate | 6.50% | 6.50% | 6.50% | 6.50% | |
$1,500m 4.600% Perpetual Subordinated Contingent Convertible Securities | |||||
Disclosure Of Other Equity [Line Items] | |||||
Notional amount | $ 1,500 | ||||
Other equity instruments interest rate | 4.60% | 4.60% | 4.60% | 4.60% | |
EUR 1,500m 5.250% Perpetual Subordinated Contingent Convertible Securities | |||||
Disclosure Of Other Equity [Line Items] | |||||
Notional amount | € | € 1,500 | ||||
Other equity instruments interest rate | 5.25% | 5.25% | 5.25% | 5.25% | |
EUR 1,000m 6.000% Perpetual Subordinated Contingent Convertible Securities | |||||
Disclosure Of Other Equity [Line Items] | |||||
Notional amount | € | € 1,000 | ||||
Other equity instruments interest rate | 6.00% | 6.00% | 6.00% | 6.00% | |
EUR 1,250m 4.750% Perpetual Subordinated Contingent Convertible Securities | |||||
Disclosure Of Other Equity [Line Items] | |||||
Notional amount | € | € 1,250 | ||||
Other equity instruments interest rate | 4.75% | 4.75% | 4.75% | 4.75% | |
GBP 1,000m 5.875% Perpetual Subordinated Contingent Convertible Securities | |||||
Disclosure Of Other Equity [Line Items] | |||||
Notional amount | £ | £ 1,000 | ||||
Other equity instruments interest rate | 5.875% | 5.875% | 5.875% | 5.875% | |
SGD 1000m 4.700% Perpetual Subordinated Contingent Convertible Securities | |||||
Disclosure Of Other Equity [Line Items] | |||||
Notional amount | $ 1,000 | ||||
Other equity instruments interest rate | 4.70% | 4.70% | 4.70% | 4.70% | |
SGD 750m 5.000% Perpetual Subordinated Contingent Convertible Securities | |||||
Disclosure Of Other Equity [Line Items] | |||||
Notional amount | $ 750 | ||||
Other equity instruments interest rate | 5.00% | 5.00% | 5.00% | 5.00% | |
Contingent convertible securities | |||||
Disclosure Of Other Equity [Line Items] | |||||
Other equity instruments | $ 22,414,000,000 | 22,392,000,000 | |||
Contingent convertible securities | $1,500m 5.625% Perpetual Subordinated Contingent Convertible Securities | |||||
Disclosure Of Other Equity [Line Items] | |||||
Notional amount | 1,500,000,000 | ||||
Other equity instruments | $ 0 | 1,494,000,000 | |||
Other equity instruments interest rate | 5.625% | 5.625% | 5.625% | 5.625% | |
Contingent convertible securities | $2,000m 6.875% Perpetual Subordinated Contingent Convertible Securities | |||||
Disclosure Of Other Equity [Line Items] | |||||
Notional amount | $ 2,000,000,000 | ||||
Other equity instruments | $ 2,000,000,000 | 1,998,000,000 | |||
Other equity instruments interest rate | 6.875% | 6.875% | 6.875% | 6.875% | |
Contingent convertible securities | $2,250m 6.375% Perpetual Subordinated Contingent Convertible Securities | |||||
Disclosure Of Other Equity [Line Items] | |||||
Notional amount | $ 2,250,000,000 | ||||
Other equity instruments | $ 2,250,000,000 | 2,244,000,000 | |||
Other equity instruments interest rate | 6.375% | 6.375% | 6.375% | 6.375% | |
Contingent convertible securities | $2,450m 6.375% Perpetual Subordinated Contingent Convertible Securities | |||||
Disclosure Of Other Equity [Line Items] | |||||
Notional amount | $ 2,450,000,000 | ||||
Other equity instruments | $ 2,450,000,000 | 2,460,000,000 | |||
Other equity instruments interest rate | 6.375% | 6.375% | 6.375% | 6.375% | |
Contingent convertible securities | $3,000m 6.000% Perpetual Subordinated Contingent Convertible Securities | |||||
Disclosure Of Other Equity [Line Items] | |||||
Notional amount | $ 3,000,000,000 | ||||
Other equity instruments | $ 3,000,000,000 | 2,997,000,000 | |||
Other equity instruments interest rate | 6.00% | 6.00% | 6.00% | 6.00% | |
Contingent convertible securities | $2,350m 6.250% Perpetual Subordinated Contingent Convertible Securities | |||||
Disclosure Of Other Equity [Line Items] | |||||
Notional amount | $ 2,350,000,000 | ||||
Other equity instruments | $ 2,350,000,000 | 2,347,000,000 | |||
Other equity instruments interest rate | 6.25% | 6.25% | 6.25% | 6.25% | |
Contingent convertible securities | $1,800m 6.500% Perpetual Subordinated Contingent Convertible Securities | |||||
Disclosure Of Other Equity [Line Items] | |||||
Notional amount | $ 1,800,000,000 | ||||
Other equity instruments | $ 1,800,000,000 | 1,798,000,000 | |||
Other equity instruments interest rate | 6.50% | 6.50% | 6.50% | 6.50% | |
Contingent convertible securities | $1,500m 4.600% Perpetual Subordinated Contingent Convertible Securities | |||||
Disclosure Of Other Equity [Line Items] | |||||
Notional amount | $ 1,500,000,000 | ||||
Other equity instruments | $ 1,500,000,000 | 0 | |||
Other equity instruments interest rate | 4.60% | 4.60% | 4.60% | 4.60% | |
Contingent convertible securities | EUR 1,500m 5.250% Perpetual Subordinated Contingent Convertible Securities | |||||
Disclosure Of Other Equity [Line Items] | |||||
Notional amount | € | € 1,500,000,000 | ||||
Other equity instruments | $ 1,945,000,000 | 1,943,000,000 | |||
Other equity instruments interest rate | 5.25% | 5.25% | 5.25% | 5.25% | |
Contingent convertible securities | EUR 1,000m 6.000% Perpetual Subordinated Contingent Convertible Securities | |||||
Disclosure Of Other Equity [Line Items] | |||||
Notional amount | € | € 1,000,000,000 | ||||
Other equity instruments | $ 1,123,000,000 | 1,120,000,000 | |||
Other equity instruments interest rate | 6.00% | 6.00% | 6.00% | 6.00% | |
Contingent convertible securities | EUR 1,250m 4.750% Perpetual Subordinated Contingent Convertible Securities | |||||
Disclosure Of Other Equity [Line Items] | |||||
Notional amount | € | € 1,250,000,000 | ||||
Other equity instruments | $ 1,422,000,000 | 1,420,000,000 | |||
Other equity instruments interest rate | 4.75% | 4.75% | 4.75% | 4.75% | |
Contingent convertible securities | GBP 1,000m 5.875% Perpetual Subordinated Contingent Convertible Securities | |||||
Disclosure Of Other Equity [Line Items] | |||||
Notional amount | £ | £ 1,000,000,000 | ||||
Other equity instruments | $ 1,301,000,000 | 1,299,000,000 | |||
Other equity instruments interest rate | 5.875% | 5.875% | 5.875% | 5.875% | |
Contingent convertible securities | SGD 1000m 4.700% Perpetual Subordinated Contingent Convertible Securities | |||||
Disclosure Of Other Equity [Line Items] | |||||
Notional amount | $ 1,000,000,000 | ||||
Other equity instruments | $ 723,000,000 | 723,000,000 | |||
Other equity instruments interest rate | 4.70% | 4.70% | 4.70% | 4.70% | |
Contingent convertible securities | SGD 750m 5.000% Perpetual Subordinated Contingent Convertible Securities | |||||
Disclosure Of Other Equity [Line Items] | |||||
Notional amount | $ 750,000,000 | ||||
Other equity instruments | $ 550,000,000 | $ 549,000,000 | |||
Other equity instruments interest rate | 5.00% | 5.00% | 5.00% | 5.00% |
Called up share capital and o_7
Called up share capital and other equity instruments - Aggregate options outstanding under these plans (Details) | Dec. 31, 2020shares£ / shares | Dec. 31, 2019shares£ / shares | Dec. 31, 2018shares |
Disclosure of range of exercise prices of outstanding share options [line items] | |||
Number of HSBC Holdings ordinary shares (in shares) | shares | 130,952,000 | 65,060,000 | 57,065,000 |
£2.6270–£5.9640 | |||
Disclosure of range of exercise prices of outstanding share options [line items] | |||
Number of HSBC Holdings ordinary shares (in shares) | shares | 130,952,539 | 65,060,681 | |
£2.6270–£5.9640 | Bottom of range | |||
Disclosure of range of exercise prices of outstanding share options [line items] | |||
Exercise price of outstanding share options (in GBP per share) | £ / shares | £ 2.6270 | £ 4.0472 | |
£2.6270–£5.9640 | Top of range | |||
Disclosure of range of exercise prices of outstanding share options [line items] | |||
Exercise price of outstanding share options (in GBP per share) | £ / shares | £ 5.9640 | £ 5.9640 |
Called up share capital and o_8
Called up share capital and other equity instruments - Maximum obligation to deliver HSBC Holdings ordinary shares (Details) - shares | Dec. 31, 2020 | Dec. 31, 2019 |
Share Capital, Reserves And Other Equity Interest [Abstract] | ||
Maximum shares required to deliver all outstanding options (in shares) | 238,278,952 | 163,567,253 |
Number of shares held in employee benefit trust (in shares) | 5,179,531 | 5,397,395 |
Contingent liabilities, contr_3
Contingent liabilities, contractual commitments and guarantees - Summary of Contingent Liabilities, Guarantees, and Commitments (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of contingent liabilities [line items] | ||
Guarantees and other contingent liabilities | $ 97,717 | $ 97,723 |
Commitments | 844,770 | 797,608 |
Off-balance sheet commitments | 262,877 | 273,380 |
Documentary credits and short-term trade-related transactions | ||
Disclosure of contingent liabilities [line items] | ||
Commitments | 7,178 | 6,316 |
Forward asset purchases and forward deposits placed | ||
Disclosure of contingent liabilities [line items] | ||
Commitments | 66,506 | 56,326 |
Standby facilities, credit lines and other commitments to lend | ||
Disclosure of contingent liabilities [line items] | ||
Commitments | 771,086 | 734,966 |
Loan and other credit-related commitments | ||
Disclosure of contingent liabilities [line items] | ||
Off-balance sheet commitments | 184,989 | 197,579 |
HSBC Holdings | ||
Disclosure of contingent liabilities [line items] | ||
Guarantees and other contingent liabilities | 13,906 | 11,350 |
Commitments | 0 | 0 |
HSBC Holdings | Documentary credits and short-term trade-related transactions | ||
Disclosure of contingent liabilities [line items] | ||
Commitments | 0 | 0 |
HSBC Holdings | Forward asset purchases and forward deposits placed | ||
Disclosure of contingent liabilities [line items] | ||
Commitments | 0 | 0 |
HSBC Holdings | Standby facilities, credit lines and other commitments to lend | ||
Disclosure of contingent liabilities [line items] | ||
Commitments | 0 | 0 |
Financial guarantees | ||
Disclosure of contingent liabilities [line items] | ||
Guarantees and other contingent liabilities | 18,384 | 20,214 |
Financial guarantees | HSBC Holdings | ||
Disclosure of contingent liabilities [line items] | ||
Guarantees and other contingent liabilities | 13,787 | 11,061 |
Performance and other guarantees | ||
Disclosure of contingent liabilities [line items] | ||
Guarantees and other contingent liabilities | 78,114 | 75,933 |
Performance and other guarantees | HSBC Holdings | ||
Disclosure of contingent liabilities [line items] | ||
Guarantees and other contingent liabilities | 0 | 0 |
Other contingent liabilities | ||
Disclosure of contingent liabilities [line items] | ||
Guarantees and other contingent liabilities | 1,219 | 1,576 |
Other contingent liabilities | HSBC Holdings | ||
Disclosure of contingent liabilities [line items] | ||
Guarantees and other contingent liabilities | 119 | 289 |
IFRS 9 | ||
Disclosure of contingent liabilities [line items] | ||
Off-balance sheet commitments | 677,308 | 619,866 |
IFRS 9 | Loan and other credit-related commitments | ||
Disclosure of contingent liabilities [line items] | ||
Off-balance sheet commitments | 659,049 | 599,700 |
Gross amount | ||
Disclosure of contingent liabilities [line items] | ||
Off-balance sheet commitments | 263,103 | 273,512 |
Gross amount | Loan and other credit-related commitments | ||
Disclosure of contingent liabilities [line items] | ||
Off-balance sheet commitments | 184,989 | 197,579 |
Gross amount | IFRS 9 | ||
Disclosure of contingent liabilities [line items] | ||
Off-balance sheet commitments | 678,167 | 620,243 |
Gross amount | IFRS 9 | Loan and other credit-related commitments | ||
Disclosure of contingent liabilities [line items] | ||
Off-balance sheet commitments | $ 659,783 | $ 600,029 |
Contingent liabilities, contr_4
Contingent liabilities, contractual commitments and guarantees - Narrative (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of contingent liabilities [line items] | ||
Estimated financial effect of contingent liabilities | $ 97,717 | $ 97,723 |
Associates | ||
Disclosure of contingent liabilities [line items] | ||
Estimated financial effect of contingent liabilities | $ 53,100 | $ 46,700 |
Finance lease receivables - Sum
Finance lease receivables - Summary of lease receivables (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Total future minimum payments | $ 14,027 | $ 14,595 |
Unearned finance income | (1,236) | (1,345) |
Present value | 12,791 | 13,250 |
No later than one year | ||
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Total future minimum payments | 3,108 | 1,674 |
Unearned finance income | (257) | (157) |
Present value | 2,851 | 1,517 |
One to two years | ||
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Total future minimum payments | 2,476 | 1,634 |
Unearned finance income | (196) | (155) |
Present value | 2,280 | 1,479 |
Two to three years | ||
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Total future minimum payments | 2,055 | 1,889 |
Unearned finance income | (143) | (151) |
Present value | 1,912 | 1,738 |
Three to four years | ||
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Total future minimum payments | 1,380 | 1,704 |
Unearned finance income | (109) | (136) |
Present value | 1,271 | 1,568 |
Four to five years | ||
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Total future minimum payments | 787 | 1,558 |
Unearned finance income | (80) | (132) |
Present value | 707 | 1,426 |
Later than one year and no later than five years | ||
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Total future minimum payments | 6,698 | 6,785 |
Unearned finance income | (528) | (574) |
Present value | 6,170 | 6,211 |
Later than five years | ||
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Total future minimum payments | 4,221 | 6,136 |
Unearned finance income | (451) | (614) |
Present value | $ 3,770 | $ 5,522 |
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 | 12 Months Ended | 24 Months Ended | |||||||||||||
Oct. 31, 2020action | Jun. 30, 2020complaintplaintifffinancial_institutionsaction | Feb. 29, 2020plaintiff | Oct. 31, 2019complaint | Sep. 30, 2019complaint | Jul. 31, 2019lawsuit | Mar. 31, 2019complaint | Sep. 30, 2018lawsuit | Jan. 31, 2018transaction | Dec. 31, 2016 | Apr. 30, 2016complaint | Aug. 31, 2016lawsuit | Mar. 31, 2019lawsuit | Nov. 30, 2015complaint | Dec. 31, 2020USD ($)actioncomplaint | Dec. 31, 2019USD ($)action | Dec. 31, 2012 | Dec. 31, 2018plaintiff | Nov. 30, 2008USD ($) | |
Disclosure of contingent liabilities [line items] | |||||||||||||||||||
Estimated financial effect of contingent liabilities | $ 97,717 | $ 97,723 | |||||||||||||||||
Benchmark rate litigation | |||||||||||||||||||
Disclosure of contingent liabilities [line items] | |||||||||||||||||||
Infringement period | 1 month | ||||||||||||||||||
Number of groups of plaintiffs | plaintiff | 5 | ||||||||||||||||||
Benchmark Rate Litigation, Intercontinental Exchange Libor | |||||||||||||||||||
Disclosure of contingent liabilities [line items] | |||||||||||||||||||
New claims filed | lawsuit | 3 | 3 | |||||||||||||||||
Benchmark Rate Litigation, Sibor, SOR, and BBSW | |||||||||||||||||||
Disclosure of contingent liabilities [line items] | |||||||||||||||||||
New claims filed | lawsuit | 2 | ||||||||||||||||||
Foreign exchange rate investigations and litigation | |||||||||||||||||||
Disclosure of contingent liabilities [line items] | |||||||||||||||||||
Deferred prosecution agreement period | 3 years | ||||||||||||||||||
New claims filed | lawsuit | 2 | ||||||||||||||||||
Number of transactions | transaction | 2 | ||||||||||||||||||
Number of financial institutions included in complaint for proceedings | financial_institutions | 28 | ||||||||||||||||||
Precious metals fix-related litigation | |||||||||||||||||||
Disclosure of contingent liabilities [line items] | |||||||||||||||||||
New claims filed | complaint | 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 | ||||||||||||||||||
Madoff Securities | |||||||||||||||||||
Disclosure of contingent liabilities [line items] | |||||||||||||||||||
Aggregate value of funds with assets invested in securities under litigation | $ 8,400 | ||||||||||||||||||
Estimated fund transfers, less withdrawals from securities under litigation | $ 4,000 | ||||||||||||||||||
HSBC Holdings | |||||||||||||||||||
Disclosure of contingent liabilities [line items] | |||||||||||||||||||
Estimated financial effect of contingent liabilities | $ 13,906 | $ 11,350 | |||||||||||||||||
HSBC Holdings | Anti-money laundering and sanctions-related matters | New York | |||||||||||||||||||
Disclosure of contingent liabilities [line items] | |||||||||||||||||||
Number of pending claims | action | 10 | ||||||||||||||||||
Number of claims dismissed | 1 | 2 | 1 | 1 | 1 | 3 | |||||||||||||
Number of new pending claims with motions to dismiss | action | 3 | ||||||||||||||||||
Number of pending claims at an early stage | complaint | 4 | ||||||||||||||||||
HSBC Holdings | Fiduciary Duty Litigation | New York | |||||||||||||||||||
Disclosure of contingent liabilities [line items] | |||||||||||||||||||
Deferred prosecution agreement period | 5 years | ||||||||||||||||||
HSBC Private Bank (UK) Limited | Film finance litigation | |||||||||||||||||||
Disclosure of contingent liabilities [line items] | |||||||||||||||||||
Number of groups of plaintiffs | plaintiff | 2 | 2 | |||||||||||||||||
Number of new claims filed | complaint | 2 | 2 |
Related party transactions - Su
Related party transactions - Summary of compensation of key management personnel (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Related Party [Abstract] | |||
Short-term employee benefits | $ 39 | $ 64 | $ 52 |
Other long-term employee benefits | 5 | 8 | 6 |
Share-based payments | 20 | 27 | $ 34 |
Total | $ 64 | $ 99 |
Related party transactions - _2
Related party transactions - Summary of shareholdings, options and other securities of key management personnel (Details) - shares shares in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of transactions between related parties [line items] | |||
Number of options held over HSBC Holdings ordinary shares under employee share plans (in shares) | 130,952 | 65,060 | 57,065 |
Key management personnel of entity or parent | |||
Disclosure of transactions between related parties [line items] | |||
Number of options held over HSBC Holdings ordinary shares under employee share plans (in shares) | 27 | 18 | |
Number of HSBC Holdings ordinary shares held beneficially and non-beneficially (in shares) | 11,916 | 15,546 | |
Shareholdings, options and other securities of Key Management Personnel (in shares) | 11,943 | 15,564 |
Related party transactions - _3
Related party transactions - Summary of transactions and balances during the year with key management personnel (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Key management personnel of entity or parent | ||
Disclosure of transactions between related parties [line items] | ||
Advances and credits | $ 221 | $ 283 |
Guarantees | 30 | 34 |
Deposits | 281 | 268 |
Advances and credits, highest amount during the year | 357 | 328 |
Guarantees, highest amount during the year | 55 | 34 |
Deposits, highest amount during the year | 874 | 659 |
Director | ||
Disclosure of transactions between related parties [line items] | ||
Advances and credits | $ 4.7 | $ 3 |
Related party transactions - _4
Related party transactions - Summary of transactions and balances during the year with associates and joint ventures (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Joint Venture And Associates | ||
Disclosure of transactions between related parties [line items] | ||
Guarantees and commitments, highest amount during the year | $ 433 | $ 647 |
Guarantees and commitments | 283 | 407 |
Joint ventures where entity is venturer | ||
Disclosure of transactions between related parties [line items] | ||
Amounts due to joint ventures and associates, highest amount during the year | 102 | 28 |
Amounts due to joint ventures and associates | 102 | 28 |
Associates | ||
Disclosure of transactions between related parties [line items] | ||
Amounts due to joint ventures and associates, highest amount during the year | 5,466 | 2,517 |
Amounts due to joint ventures and associates | 2,226 | 516 |
Unsubordinated Accounts Receivable | Joint ventures where entity is venturer | ||
Disclosure of transactions between related parties [line items] | ||
Amounts due from joint ventures and associates, highest amount during the year | 147 | 132 |
Amounts due from joint ventures and associates | 147 | 123 |
Unsubordinated Accounts Receivable | Associates | ||
Disclosure of transactions between related parties [line items] | ||
Amounts due from joint ventures and associates, highest amount during the year | 4,330 | 4,554 |
Amounts due from joint ventures and associates | $ 2,942 | $ 2,054 |
Related party transactions - _5
Related party transactions - Summary of post-employment benefits (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of transactions between related parties [line items] | ||
Amounts identified as managed internally, reclassified as managed by third party | $ 1,500 | |
Subsidiaries | ||
Disclosure of transactions between related parties [line items] | ||
Post-employment benefit plan assets under management of subsidiary | $ 3,500 | 3,900 |
Related party management fees | 13 | 8 |
Retirement benefit plan deposit assets placed at related party | 452 | 530 |
Retirement benefit plan interest income earned from related party | 0 | 0.3 |
HSBC Bank (UK) Pension Scheme | Other related parties | ||
Disclosure of transactions between related parties [line items] | ||
Notional amount with related party | 7,700 | 9,900 |
Derivative assets with related party | 1,000 | 1,200 |
Cash collateral received with related party | $ 1,000 | $ 1,200 |
Related party transactions - _6
Related party transactions - Summary of transactions and balances during the year with subsidiaries (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Assets | |||
Derivatives | $ 307,726 | $ 242,995 | |
Loans and advances to HSBC undertakings | 81,616 | 69,203 | |
Prepayments, accrued income and other assets | 156,412 | 136,680 | |
Total assets | 2,984,164 | 2,715,152 | $ 2,558,124 |
Liabilities | |||
Derivatives | 303,001 | 239,497 | |
Accruals, deferred income and other liabilities | 128,624 | 118,156 | |
Subordinated liabilities | 21,951 | 24,600 | |
Total liabilities | 2,779,169 | 2,522,484 | |
Subsidiaries | |||
Assets, highest amount during the year | |||
Cash and balances with HSBC undertakings | 5,476 | 5,029 | |
Financial assets with HSBC undertakings designated and otherwise mandatorily measured at fair value | 65,253 | 61,964 | |
Derivatives | 5,784 | 3,902 | |
Loans and advances to HSBC undertakings | 10,785 | 43,436 | |
Prepayments, accrued income and other assets | 1,838 | 655 | |
Investments in subsidiaries | 161,546 | 163,258 | |
Total related party assets at 31 Dec | 250,682 | 278,244 | |
Assets | |||
Cash and balances with HSBC undertakings | 2,913 | 2,382 | |
Financial assets with HSBC undertakings designated and otherwise mandatorily measured at fair value | 65,253 | 61,964 | |
Derivatives | 4,698 | 2,002 | |
Loans and advances to HSBC undertakings | 10,443 | 10,218 | |
Prepayments, accrued income and other assets | 1,363 | 480 | |
Investments in subsidiaries | 160,660 | 161,473 | |
Total assets | 245,330 | 238,519 | |
Liabilities, highest amount during the year | |||
Amounts owed to HSBC undertakings | 581 | 1,553 | |
Derivatives | 3,376 | 2,183 | |
Accruals And Deferred Income, Highest Amount During The Year | 2,737 | 0 | |
Subordinated liabilities | 892 | 892 | |
Total related party liabilities at 31 Dec | 7,586 | 4,628 | |
Liabilities | |||
Amounts owed to HSBC undertakings | 330 | 464 | |
Derivatives | 3,060 | 2,021 | |
Accruals, deferred income and other liabilities | 1,936 | 0 | |
Subordinated liabilities | 892 | 892 | |
Total liabilities | 6,218 | 3,377 | |
Guarantees and commitments, highest amount during the year | 15,661 | 11,541 | |
Guarantees and commitments | $ 13,787 | $ 11,061 |
Events after the balance shee_2
Events after the balance sheet date (Details) - USD ($) | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Disclosure of non-adjusting events after reporting period [line items] | ||||
Redemption of securities | [1] | $ 1,450,000,000 | $ 1,508,000,000 | $ 6,088,000,000 |
Ordinary shares | ||||
Disclosure of non-adjusting events after reporting period [line items] | ||||
Dividends declared before financial statements authorised for issue, per share (in dollars per share) | $ 0.15 | |||
Dividends declared before financial statements authorized for issue | $ 3,055,000,000 | |||
Preference shares | ||||
Disclosure of non-adjusting events after reporting period [line items] | ||||
Redemption of securities | $ 1,450,000,000 | |||
Other equity instruments interest rate | 6.20% | |||
[1] | During 2020, HSBC Holdings called $1,450m 6.20% non-cumulative US dollar preference shares. For further details, see Note 31 in the Annual Report and Accounts 2020 . In 2019, HSBC Holdings redeemed $1,500m 5.625% perpetual subordinated capital securities on which there were $12m of external issuance costs. In 2018, HSBC Holdings redeemed $2,200m 8.125% perpetual subordinated capital securities and its $3,800m 8.000% perpetual subordinated capital securities, Series 2, on which there were $172m of external issuance costs and $23m of intra-Group issuance costs wound down. Under IFRSs external issuance costs are classified as equity. |
HSBC Holdings' subsidiaries, _3
HSBC Holdings' subsidiaries, joint ventures and associates - Subsidiaries (Details) | 12 Months Ended |
Dec. 31, 2020 | |
452 TALF Plus ABS Opportunities SPV LLC | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
452 TALF SPV LLC | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Almacenadora Banpacifico S.A. (In Liquidation) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
Assetfinance December (F) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Assetfinance December (H) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Assetfinance December (M) Limited (In Liquidation) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Assetfinance December (P) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Assetfinance December (R) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Assetfinance June (A) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Assetfinance June (D) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Assetfinance Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Assetfinance March (B) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Assetfinance March (D) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Assetfinance March (F) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Assetfinance September (F) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Assetfinance September (G) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
B&Q Financial Services Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Banco HSBC S.A. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Banco Nominees (Guernsey) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Banco Nominees 2 (Guernsey) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Banco Nominees Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Beijing Miyun HSBC Rural Bank Company Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Billingsgate Nominees Limited (In Liquidation) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Canada Crescent Nominees (UK) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Canada Square Nominees (UK) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Capco/Cove, Inc. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Card-Flo #1, Inc. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Card-Flo #3, Inc. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
CC&H Holdings LLC | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
CCF HOLDING (LIBAN) S.A.L. (In Liquidation) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 74.99% |
Proportion of ownership interest in subsidiary | 74.99% |
Charterhouse Administrators ( D.T.) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Charterhouse Administrators ( D.T.) Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
Charterhouse Management Services Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Charterhouse Management Services Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
Charterhouse Pensions Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Chongqing Dazu HSBC Rural Bank Company Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Chongqing Fengdu HSBC Rural Bank Company Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Chongqing Rongchang HSBC Rural Bank Company Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Cordico Management AG (In Liquidation) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Dalian Pulandian HSBC Rural Bank Company Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Dem 9 | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Dem 9 | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
Dempar 1 | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Dempar 1 | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
Desarrollo Turistico, S.A. de C.V. (In Liquidation) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Desarrollo Turistico, S.A. de C.V. (In Liquidation) | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
Electronic Data Process México, S.A. de C.V. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Equator Holdings Limited (In Liquidation) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Eton Corporate Services Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Far East Leasing SA (In Dissolution) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Flandres Contentieux S.A. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Flandres Contentieux S.A. | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
Foncière Elysées | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Foncière Elysées | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
Fujian Yongan HSBC Rural Bank Company Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Fulcher Enterprises Company Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Fulcher Enterprises Company Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 62.14% |
Proportion of ownership interest in subsidiary | 62.14% |
Fundacion HSBC, A.C. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Fundacion HSBC, A.C. | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
Giller Ltd. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Griffin International Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Grupo Financiero HSBC, S. A. de C. V. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
Guangdong Enping HSBC Rural Bank Company Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Guangzhou HSBC Real Estate Company Ltd | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Hang Seng (Nominee) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Hang Seng (Nominee) Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 62.14% |
Proportion of ownership interest in subsidiary | 62.14% |
Hang Seng Bank (China) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Hang Seng Bank (China) Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 62.14% |
Proportion of ownership interest in subsidiary | 62.14% |
Hang Seng Bank (Trustee) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Hang Seng Bank (Trustee) Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 62.14% |
Proportion of ownership interest in subsidiary | 62.14% |
Hang Seng Bank Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 62.14% |
Proportion of ownership interest in subsidiary | 62.14% |
Hang Seng Bank Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 62.14% |
Proportion of ownership interest in subsidiary | 62.14% |
Hang Seng Bullion Company Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Hang Seng Bullion Company Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 62.14% |
Proportion of ownership interest in subsidiary | 62.14% |
Hang Seng Credit Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Hang Seng Credit Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 62.14% |
Proportion of ownership interest in subsidiary | 62.14% |
Hang Seng Data Services Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Hang Seng Data Services Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 62.14% |
Proportion of ownership interest in subsidiary | 62.14% |
Hang Seng Finance Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Hang Seng Finance Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 62.14% |
Proportion of ownership interest in subsidiary | 62.14% |
Hang Seng Financial Information Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Hang Seng Financial Information Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 62.14% |
Proportion of ownership interest in subsidiary | 62.14% |
Hang Seng Indexes (Netherlands) B.V. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Hang Seng Indexes (Netherlands) B.V. | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 62.14% |
Proportion of ownership interest in subsidiary | 62.14% |
Hang Seng Indexes Company Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Hang Seng Indexes Company Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 62.14% |
Proportion of ownership interest in subsidiary | 62.14% |
Hang Seng Insurance Company Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Hang Seng Insurance Company Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 62.14% |
Proportion of ownership interest in subsidiary | 62.14% |
Hang Seng Investment Management Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Hang Seng Investment Management Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 62.14% |
Proportion of ownership interest in subsidiary | 62.14% |
Hang Seng Investment Services Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Hang Seng Investment Services Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 62.14% |
Proportion of ownership interest in subsidiary | 62.14% |
Hang Seng Life Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Hang Seng Life Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 62.14% |
Proportion of ownership interest in subsidiary | 62.14% |
Hang Seng Real Estate Management Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Hang Seng Real Estate Management Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 62.14% |
Proportion of ownership interest in subsidiary | 62.14% |
Hang Seng Securities Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Hang Seng Securities Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 62.14% |
Proportion of ownership interest in subsidiary | 62.14% |
Hang Seng Security Management Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Hang Seng Security Management Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 62.14% |
Proportion of ownership interest in subsidiary | 62.14% |
Haseba Investment Company Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Haseba Investment Company Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 62.14% |
Proportion of ownership interest in subsidiary | 62.14% |
HFC Bank Limited (In Liquidation) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
High Time Investments Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
High Time Investments Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 62.14% |
Proportion of ownership interest in subsidiary | 62.14% |
Honey Green Enterprises Ltd. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Honey Grey Enterprises Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Honey Silver Enterprises Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Household International Europe Limited (In Liquidation) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Household Pooling Corporation | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC (BGF) Investments Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC (General Partner) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC (Guernsey) GP PCC Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC (Kuala Lumpur) Nominees Sdn Bhd | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC (Malaysia) Trustee Berhad | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC (Singapore) Nominees Pte Ltd | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Agency (India) Private Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Alternative Investments Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Amanah Malaysia Berhad | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Americas Corporation (Delaware) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Argentina Holdings S.A. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Asia Holdings B.V. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Asia Holdings Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Asia Pacific Holdings (UK) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Asset Finance (UK) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Asset Finance M.O.G. Holdings (UK) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Asset Management (India) Private Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Assurances Vie (France) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Assurances Vie (France) | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
HSBC Australia Holdings Pty Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC BANK (CHILE) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Bank (China) Company Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Bank (China) Company Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Bank (General Partner) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Bank (Mauritius) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Bank (Singapore) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Bank (Taiwan) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Bank (Uruguay) S.A. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Bank (Vietnam) Ltd. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Bank A.S. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Bank Argentina S.A. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Bank Armenia cjsc | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Bank Australia Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Bank Bermuda Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Bank Canada | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Bank Canada | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Bank Egypt S.A.E | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.63% |
Proportion of ownership interest in subsidiary | 99.63% |
HSBC Bank Egypt S.A.E | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 94.54% |
Proportion of ownership interest in subsidiary | 94.54% |
HSBC Bank Malaysia Berhad | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Bank Malaysia Berhad | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Bank Malta p.l.c. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 70.03% |
Proportion of ownership interest in subsidiary | 70.03% |
HSBC Bank Middle East Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Bank Middle East Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Bank Middle East Limited Representative Office Morocco SARL (In Liquidation) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Bank Oman S.A.O.G. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 51.00% |
Proportion of ownership interest in subsidiary | 51.00% |
HSBC Bank Pension Trust (UK) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Bank plc | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Bank plc | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Bank USA, National Association | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Branch Nominee (UK) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Brasil Holding S.A. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Broking Forex (Asia) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Broking Futures (Asia) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Broking Futures (Hong Kong) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Broking Securities (Asia) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Broking Securities (Hong Kong) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Broking Services (Asia) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Capital (USA), Inc. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Capital Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Card Services Inc. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Casa de Bolsa, S.A. de C.V., Grupo Financiero HSBC | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Casa de Bolsa, S.A. de C.V., Grupo Financiero HSBC | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
HSBC Cayman Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Cayman Services Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC City Funding Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Client Holdings Nominee (UK) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Client Nominee (Jersey) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Continental Europe | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
HSBC Corporate Advisory (Malaysia) Sdn Bhd | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Corporate Finance (Hong Kong) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Corporate Trustee Company (UK) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Custody Nominees (Australia) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Custody Services (Guernsey) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Daisy Investments (Mauritius) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Diversified Loan Fund General Partner Sarl | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Electronic Data Processing (Guangdong) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Electronic Data Processing (Malaysia) Sdn Bhd | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Electronic Data Processing (Philippines), Inc. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
HSBC Electronic Data Processing India Private Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Electronic Data Processing Lanka (Private) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Electronic Data Service Delivery (Egypt) S.A.E. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Enterprise Investment Company (UK) Limited (In Liquidation) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Epargne Entreprise (France) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Epargne Entreprise (France) | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
HSBC Equator (UK) Limited (In Liquidation) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Equipment Finance (UK) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Equity (UK) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Europe B.V. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Executor & Trustee Company (UK) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Factoring (France) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Factoring (France) | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
HSBC Finance (Netherlands) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Finance Corporation | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Finance Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Finance Mortgages Inc. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Finance Transformation (UK) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Financial Services (Lebanon) s.a.l. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.65% |
Proportion of ownership interest in subsidiary | 99.65% |
HSBC Financial Services (Middle East) Limited (In Liquidation) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Financial Services (Uruguay) S.A. (In Liquidation) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC FinTech Services (Shanghai) Company Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Germany Holdings GmbH | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Global Asset Management (Bermuda) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Global Asset Management (Canada) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Global Asset Management (Deutschland) GmbH | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Global Asset Management (Deutschland) GmbH | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.33% |
Proportion of ownership interest in subsidiary | 99.33% |
HSBC Global Asset Management (France) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Global Asset Management (France) | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
HSBC Global Asset Management (Hong Kong) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Global Asset Management (International) Limited (In Liquidation) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Global Asset Management (Japan) K. K. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Global Asset Management (Malta) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Global Asset Management (Malta) Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 70.03% |
Proportion of ownership interest in subsidiary | 70.03% |
HSBC Global Asset Management (México), S.A. de C.V., Sociedad Operadora de Fondos de Inversión, Grupo Financiero HSBC | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Global Asset Management (México), S.A. de C.V., Sociedad Operadora de Fondos de Inversión, Grupo Financiero HSBC | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
HSBC Global Asset Management (Oesterreich) GmbH | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Global Asset Management (Oesterreich) GmbH | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.33% |
Proportion of ownership interest in subsidiary | 99.33% |
HSBC Global Asset Management (Singapore) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Global Asset Management (Switzerland) AG | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Global Asset Management (Switzerland) AG | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.66% |
Proportion of ownership interest in subsidiary | 99.66% |
HSBC Global Asset Management (Taiwan) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Global Asset Management (UK) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Global Asset Management (USA) Inc. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Global Asset Management Argentina S.A. Sociedad Gerente de Fondos Comunes de Inversión | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Global Asset Management Argentina S.A. Sociedad Gerente de Fondos Comunes de Inversión | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
HSBC Global Asset Management Holdings (Bahamas) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Global Asset Management Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Global Custody Nominee (UK) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Global Custody Proprietary Nominee (UK) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Global Services (Canada) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Global Services (China) Holdings Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Global Services (Hong Kong) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Global Services (UK) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Global Services Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Global Shared Services (India) Private Limited (In Liquidation) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
HSBC Group Management Services Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Group Nominees UK Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Holdings B.V. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC IM Pension Trust Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Infrastructure Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC INKA Investment-AG TGV | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC INKA Investment-AG TGV | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.33% |
Proportion of ownership interest in subsidiary | 99.33% |
HSBC Inmobiliaria (Mexico), S.A. de C.V. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Inmobiliaria (Mexico), S.A. de C.V. | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
HSBC Institutional Trust Services (Asia) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Institutional Trust Services (Bermuda) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Institutional Trust Services (Mauritius) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Institutional Trust Services (Singapore) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Insurance (Asia) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Insurance (Asia-Pacific) Holdings Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Insurance (Bermuda) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Insurance (Singapore) Pte. Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Insurance Agency (USA) Inc. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Insurance Brokers (Philippines) Inc | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
HSBC Insurance Holdings Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Insurance SAC 1 (Bermuda) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Insurance SAC 2 (Bermuda) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Insurance Services (Lebanon) S.A.L. (In Liquidation) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
HSBC Insurance Services Holdings Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC International Finance Corporation (Delaware) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC International Trustee (BVI) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC International Trustee (Holdings) Pte. Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC International Trustee Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Inversiones S.A. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
HSBC InvestDirect (India) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC InvestDirect (India) Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.98% |
Proportion of ownership interest in subsidiary | 99.98% |
HSBC InvestDirect Financial Services (India) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
HSBC InvestDirect Financial Services (India) Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.98% |
Proportion of ownership interest in subsidiary | 99.98% |
HSBC InvestDirect Sales & Marketing (India) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 98.99% |
Proportion of ownership interest in subsidiary | 98.99% |
HSBC InvestDirect Sales & Marketing (India) Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 98.98% |
Proportion of ownership interest in subsidiary | 98.98% |
HSBC InvestDirect Securities (India) Private Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
HSBC Investment Bank Holdings B.V. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Investment Bank Holdings Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Investment Company (Egypt) S.A.E (In Liquidation) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Investment Company (Egypt) S.A.E (In Liquidation) | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 97.81% |
Proportion of ownership interest in subsidiary | 97.81% |
HSBC Investment Company Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Investment Funds (Canada) Inc. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Investment Funds (Hong Kong) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Investment Funds (Luxembourg) SA | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Invoice Finance (UK) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Issuer Services Common Depositary Nominee (UK) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Issuer Services Depositary Nominee (UK) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Latin America B.V. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Latin America Holdings (UK) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Leasing (Asia) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Leasing (France) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Leasing (France) | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
HSBC Life (Cornell Centre) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Life (Edwick Centre) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Life (International) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Life (International) Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Life (Property Investment) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Life (Property Light) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Life (Property) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Life (Tsing Yi Industrial) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Life (UK) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Life Assurance (Malta) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Life Assurance (Malta) Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 70.03% |
Proportion of ownership interest in subsidiary | 70.03% |
HSBC LU Nominees Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Management (Guernsey) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Markets (USA) Inc. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Marking Name Nominee (UK) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Master Trust Trustee Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Mexico, S.A., Institucion de Banca Multiple, Grupo Financiero HSBC | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
HSBC Middle East Finance Company Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Middle East Finance Company Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 80.00% |
Proportion of ownership interest in subsidiary | 80.00% |
HSBC Middle East Holdings B.V. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Mortgage Corporation (Canada) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Mortgage Corporation (USA) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Nominees (Asing) Sdn Bhd | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Nominees (Hong Kong) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Nominees (New Zealand) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Nominees (Tempatan) Sdn Bhd | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC North America Holdings Inc. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Operational Services GmbH | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 90.10% |
Proportion of ownership interest in subsidiary | 90.10% |
HSBC Operational Services GmbH | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 89.49% |
Proportion of ownership interest in subsidiary | 89.49% |
HSBC Overseas Holdings (UK) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Overseas Investments Corporation (New York) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Overseas Nominee (UK) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Participaciones (Argentina) S.A. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Participaciones (Argentina) S.A. | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
HSBC PB Corporate Services 1 Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC PB Services (Suisse) SA | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Pension Trust (Ireland) DAC | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Pensiones, S.A. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC PI Holdings (Mauritius) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Portfoy Yonetimi A.S. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Preferential LP (UK) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Private Bank (Luxembourg) S.A. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Private Bank (Suisse) SA | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Private Bank (UK) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Private Banking Holdings (Suisse) SA | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Private Banking Nominee 3 (Jersey) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Private Equity Investments (UK) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Private Trustee (Hong Kong) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Private Wealth Services (Canada) Inc. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Professional Services (India) Private Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Property (UK) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Property Funds (Holding) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Provident Fund Trustee (Hong Kong) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Qianhai Securities Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Qianhai Securities Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 51.00% |
Proportion of ownership interest in subsidiary | 51.00% |
HSBC Real Estate Leasing (France) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Real Estate Leasing (France) | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
HSBC Realty Credit Corporation (USA) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC REGIO Fund General Partner S.à r.l. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC REIM (France) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC REIM (France) | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
HSBC Retirement Benefits Trustee (UK) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Retirement Services Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Savings Bank (Philippines) Inc. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
HSBC Securities (Asia) Limited (In Liquidation) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Securities (Canada) Inc. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Securities (Egypt) S.A.E. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Securities (Egypt) S.A.E. | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 94.65% |
Proportion of ownership interest in subsidiary | 94.65% |
HSBC Securities (Japan) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Securities (Singapore) Pte Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Securities (South Africa) (Pty) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Securities (Taiwan) Corporation Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Securities (USA) Inc. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Securities and Capital Markets (India) Private Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
HSBC Securities Asia Nominees Limited (In Liquidation) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Securities Brokers (Asia) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Securities Investments (Asia) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Securities Services (Bermuda) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Securities Services (Guernsey) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Securities Services (Ireland) DAC | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Securities Services (Luxembourg) S.A. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Securities Services Holdings (Ireland) DAC | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Securities Services Nominees Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Seguros de Retiro (Argentina) S.A. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Seguros de Retiro (Argentina) S.A. | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
HSBC Seguros de Vida (Argentina) S.A. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Seguros de Vida (Argentina) S.A. | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
HSBC Seguros, S.A de C.V., Grupo Financiero HSBC | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Seguros, S.A de C.V., Grupo Financiero HSBC | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
HSBC Service Company Germany GmbH | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Service Company Germany GmbH | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.33% |
Proportion of ownership interest in subsidiary | 99.33% |
HSBC Service Delivery (Polska) Sp. z o.o. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Services (France) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Services (France) | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
HSBC Services Japan Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Services USA Inc. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Servicios Financieros, S.A. de C.V | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Servicios Financieros, S.A. de C.V | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
HSBC Servicios, S.A. DE C.V., Grupo Financiero HSBC | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Servicios, S.A. DE C.V., Grupo Financiero HSBC | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
HSBC SFH (France) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC SFH (France) | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
HSBC SFT (C.I.) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Software Development (Guangdong) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Software Development (India) Private Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Software Development (Malaysia) Sdn Bhd | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Specialist Investments Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Technology & Services (China) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Technology & Services (USA) Inc. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Transaction Services GmbH | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Transaction Services GmbH | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.33% |
Proportion of ownership interest in subsidiary | 99.33% |
HSBC Trinkaus & Burkhardt (International) S.A. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Trinkaus & Burkhardt (International) S.A. | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.33% |
Proportion of ownership interest in subsidiary | 99.33% |
HSBC Trinkaus & Burkhardt AG1 | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.33% |
Proportion of ownership interest in subsidiary | 99.33% |
HSBC Trinkaus & Burkhardt AG1 | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.33% |
Proportion of ownership interest in subsidiary | 99.33% |
HSBC Trinkaus & Burkhardt Gesellschaft fur Bankbeteiligungen mbH | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Trinkaus & Burkhardt Gesellschaft fur Bankbeteiligungen mbH | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.33% |
Proportion of ownership interest in subsidiary | 99.33% |
HSBC Trinkaus Europa Immobilien-Fonds Nr. 5 GmbH | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Trinkaus Europa Immobilien-Fonds Nr. 5 GmbH | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.33% |
Proportion of ownership interest in subsidiary | 99.33% |
HSBC Trinkaus Family Office GmbH | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Trinkaus Family Office GmbH | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.33% |
Proportion of ownership interest in subsidiary | 99.33% |
HSBC Trinkaus Immobilien Beteiligungs KG | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Trinkaus Immobilien Beteiligungs KG | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.33% |
Proportion of ownership interest in subsidiary | 99.33% |
HSBC Trinkaus Real Estate GmbH | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Trinkaus Real Estate GmbH | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.33% |
Proportion of ownership interest in subsidiary | 99.33% |
HSBC Trust Company (Canada) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Trust Company (Delaware), National Association | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Trust Company (UK) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Trust Company AG (In Liquidation) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Trustee (C.I.) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Trustee (Cayman) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Trustee (Guernsey) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Trustee (Hong Kong) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Trustee (Singapore) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC UK Bank plc | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC UK Bank plc | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC UK Client Nominee Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC UK Holdings Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC USA Inc. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Ventures USA Inc. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Violet Investments (Mauritius) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Wealth Client Nominee Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSBC Yatirim Menkul Degerler A.S. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSI Asset Securitization Corporation | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSI International Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
HSI International Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 62.14% |
Proportion of ownership interest in subsidiary | 62.14% |
HSIL Investments Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Hubei Macheng HSBC Rural Bank Company Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Hubei Suizhou Cengdu HSBC Rural Bank Company Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Hubei Tianmen HSBC Rural Bank Company Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Hunan Pingjiang HSBC Rural Bank Company Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Imenson Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Imenson Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 62.14% |
Proportion of ownership interest in subsidiary | 62.14% |
INKA Internationale Kapitalanlagegesellschaft mbH | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
INKA Internationale Kapitalanlagegesellschaft mbH | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.33% |
Proportion of ownership interest in subsidiary | 99.33% |
Inmobiliaria Banci, S.A. de C.V. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Inmobiliaria Banci, S.A. de C.V. | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.68% |
Proportion of ownership interest in subsidiary | 99.68% |
Inmobiliaria Bisa, S.A. de C.V. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.98% |
Proportion of ownership interest in subsidiary | 99.98% |
Inmobiliaria Grufin, S.A. de C.V. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Inmobiliaria Grufin, S.A. de C.V. | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
Inmobiliaria Guatusi, S.A. de C.V. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Inmobiliaria Guatusi, S.A. de C.V. | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
James Capel & Co. Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
James Capel (Nominees) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
James Capel (Taiwan) Nominees Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
John Lewis Financial Services Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Keyser Ullmann Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Keyser Ullmann Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
Lion Corporate Services Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Lion International Corporate Services Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Lion International Management Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Lion Management (Hong Kong) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Lyndholme Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Marks and Spencer Financial Services plc | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Marks and Spencer Unit Trust Management Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Maxima S.A. AFJP (In Liquidation) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.98% |
Proportion of ownership interest in subsidiary | 99.98% |
Mexicana de Fomento, S.A. de C.V. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Mexicana de Fomento, S.A. de C.V. | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.90% |
Proportion of ownership interest in subsidiary | 99.90% |
Midcorp Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Midland Bank (Branch Nominees) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Midland Nominees Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
MIL (Cayman) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
MW Gestion SA | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Promocion en Bienes Raices, S.A. de C.V. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Promocion en Bienes Raices, S.A. de C.V. | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
Prudential Client HSBC GIS Nominee (UK) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
PT Bank HSBC Indonesia | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
PT Bank HSBC Indonesia | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 98.93% |
Proportion of ownership interest in subsidiary | 98.93% |
PT HSBC Sekuritas Indonesia | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 85.00% |
Proportion of ownership interest in subsidiary | 85.00% |
R/CLIP Corp. | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Real Estate Collateral Management Company | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Republic Nominees Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Republic Overseas Capital Corporation | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
RLUKREF Nominees (UK) One Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
RLUKREF Nominees (UK) Two Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
S.A.P.C. - Ufipro Recouvrement | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
Saf Baiyun | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Saf Baiyun | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
Saf Guangzhou | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Saf Guangzhou | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
Saf Zhu Jiang Shi Ba | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Saf Zhu Jiang Shi Ba | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
Saf Zhu Jiang Shi Er | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Saf Zhu Jiang Shi Er | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
Saf Zhu Jiang Shi Jiu | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Saf Zhu Jiang Shi Jiu | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
Saf Zhu Jiang Shi Liu | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Saf Zhu Jiang Shi Liu | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
Saf Zhu Jiang Shi Qi | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Saf Zhu Jiang Shi Qi | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
Saf Zhu Jiang Shi Wu | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Saf Zhu Jiang Shi Wu | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
SCI HSBC Assurances Immo | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
SCI HSBC Assurances Immo | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
Serai Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Serai Technology Development (Shanghai) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
SFM | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
SFM | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
SFSS Nominees (Pty) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Shandong Rongcheng HSBC Rural Bank Company Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Shenzhen HSBC Development Company Ltd | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Sico Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
SNC Dorique | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
SNC Les Mercuriales | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
SNC Les Mercuriales | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
SNC Les Oliviers D'Antibes | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 60.00% |
Proportion of ownership interest in subsidiary | 60.00% |
SNC Makala | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
SNC Makala | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
SNCB/M6 - 2008 A | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
SNCB/M6 - 2008 A | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
SNCB/M6-2007 A | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
SNCB/M6-2007 A | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
SNCB/M6-2007 B | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
SNCB/M6-2007 B | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
Société Française et Suisse | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Société Française et Suisse | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
Somers Dublin DAC | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Somers Dublin DAC | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
Somers Nominees (Far East) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Sopingest | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Sopingest | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
South Yorkshire Light Rail Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
St Cross Trustees Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Sun Hung Kai Development (Lujiazui III) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Swan National Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Tasfiye Halinde HSBC Odeme Sistemleri Bilgisayar Teknolojileri Basin Yayin Ve Musteri Hizmetleri (In Liquidation) | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
The Hongkong and Shanghai Banking Corporation Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
The Hongkong and Shanghai Banking Corporation Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
The Venture Catalysts Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Tooley Street View Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Tower Investment Management | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Trinkaus Australien Immobilien Fonds Nr. 1 Brisbane GmbH & Co. KG | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Trinkaus Australien Immobilien Fonds Nr. 1 Brisbane GmbH & Co. KG | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.33% |
Proportion of ownership interest in subsidiary | 99.33% |
Trinkaus Australien Immobilien-Fonds Nr. 1 Treuhand-GmbH | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Trinkaus Australien Immobilien-Fonds Nr. 1 Treuhand-GmbH | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.33% |
Proportion of ownership interest in subsidiary | 99.33% |
Trinkaus Europa Immobilien-Fonds Nr.3 Objekt Utrecht Verwaltungs-GmbH | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Trinkaus Europa Immobilien-Fonds Nr.3 Objekt Utrecht Verwaltungs-GmbH | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.33% |
Proportion of ownership interest in subsidiary | 99.33% |
Trinkaus Immobilien-Fonds Geschaeftsfuehrungs-GmbH | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Trinkaus Immobilien-Fonds Geschaeftsfuehrungs-GmbH | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.33% |
Proportion of ownership interest in subsidiary | 99.33% |
Trinkaus Immobilien-Fonds Verwaltungs-GmbH | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Trinkaus Immobilien-Fonds Verwaltungs-GmbH | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.33% |
Proportion of ownership interest in subsidiary | 99.33% |
Trinkaus Private Equity Management GmbH | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Trinkaus Private Equity Management GmbH | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.33% |
Proportion of ownership interest in subsidiary | 99.33% |
Trinkaus Private Equity Verwaltungs GmbH | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Trinkaus Private Equity Verwaltungs GmbH | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.33% |
Proportion of ownership interest in subsidiary | 99.33% |
Tropical Nominees Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Turnsonic (Nominees) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Valeurs Mobilières Elysées | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Valeurs Mobilières Elysées | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 99.99% |
Proportion of ownership interest in subsidiary | 99.99% |
Wardley Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Wayfoong Nominees Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Wayhong (Bahamas) Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Woodex Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Yan Nin Development Company Limited | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 100.00% |
Proportion of ownership interest in subsidiary | 100.00% |
Yan Nin Development Company Limited | HSBC Holdings | |
Disclosure of subsidiaries [line items] | |
Group interest percent | 62.14% |
Proportion of ownership interest in subsidiary | 62.14% |
HSBC Holdings' subsidiaries, _4
HSBC Holdings' subsidiaries, joint ventures and associates - Associates (Details) | Dec. 31, 2020 | Dec. 03, 2020 | Nov. 30, 2020 | Dec. 31, 2020 | Jun. 30, 2019 | Dec. 31, 2020 | Dec. 02, 2020 |
Bank of Communications Co., Limited | |||||||
Disclosure of associates [line items] | |||||||
HSBC’s interest percent | 19.03% | 19.03% | |||||
Barrowgate Limited | |||||||
Disclosure of associates [line items] | |||||||
HSBC’s interest percent | 15.31% | ||||||
BGF Group PLC | |||||||
Disclosure of associates [line items] | |||||||
HSBC’s interest percent | 24.56% | ||||||
Bud Financial Limited | |||||||
Disclosure of associates [line items] | |||||||
HSBC’s interest percent | 10.82% | ||||||
Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited | |||||||
Disclosure of associates [line items] | |||||||
HSBC’s interest percent | 26.00% | ||||||
CFAC Payment Scheme Limited | |||||||
Disclosure of associates [line items] | |||||||
HSBC’s interest percent | 33.33% | ||||||
Chemi & Cotex (Rwanda) Limited | |||||||
Disclosure of associates [line items] | |||||||
HSBC’s interest percent | 33.99% | ||||||
Chemi & Cotex Kenya Limited | |||||||
Disclosure of associates [line items] | |||||||
HSBC’s interest percent | 33.99% | ||||||
Chemi and Cotex Industries Limited | |||||||
Disclosure of associates [line items] | |||||||
HSBC’s interest percent | 33.99% | ||||||
Contour | |||||||
Disclosure of associates [line items] | |||||||
HSBC’s interest percent | 10.80% | ||||||
Episode Six Limited | |||||||
Disclosure of associates [line items] | |||||||
HSBC’s interest percent | 9.10% | ||||||
EPS Company (Hong Kong) Limited | |||||||
Disclosure of associates [line items] | |||||||
HSBC’s interest percent | 38.66% | ||||||
EURO Secured Notes Issuer | |||||||
Disclosure of associates [line items] | |||||||
HSBC’s interest percent | 16.66% | ||||||
GZHS Research Co Ltd | |||||||
Disclosure of associates [line items] | |||||||
HSBC’s interest percent | 20.50% | ||||||
Hang Seng Qianhai Fund Management Company Limited | |||||||
Disclosure of associates [line items] | |||||||
HSBC’s interest percent | 43.49% | ||||||
HCM Holdings Limited (In Liquidation) | |||||||
Disclosure of associates [line items] | |||||||
HSBC’s interest percent | 50.99% | ||||||
HSBC Canadian Covered Bond (Legislative) GP Inc. | |||||||
Disclosure of associates [line items] | |||||||
HSBC’s interest percent | 100.00% | ||||||
HSBC Jintrust Fund Management Company Limited | |||||||
Disclosure of associates [line items] | |||||||
HSBC’s interest percent | 49.00% | ||||||
HSBC Saudi Arabia, a Saudi closed Joint Stock Company | |||||||
Disclosure of associates [line items] | |||||||
HSBC’s interest percent | 66.18% | ||||||
Jeppe Star Limited | |||||||
Disclosure of associates [line items] | |||||||
HSBC’s interest percent | 33.99% | ||||||
London Precious Metals Clearing Limited | |||||||
Disclosure of associates [line items] | |||||||
HSBC’s interest percent | 30.00% | ||||||
MENA Infrastructure Fund (GP) Ltd | |||||||
Disclosure of associates [line items] | |||||||
HSBC’s interest percent | 33.33% | ||||||
Novo Star Limited | |||||||
Disclosure of associates [line items] | |||||||
HSBC’s interest percent | 33.99% | ||||||
Quantexa Ltd | |||||||
Disclosure of associates [line items] | |||||||
HSBC’s interest percent | 10.99% | ||||||
Services Epargne Entreprise | |||||||
Disclosure of associates [line items] | |||||||
HSBC’s interest percent | 14.18% | ||||||
sino AG | |||||||
Disclosure of associates [line items] | |||||||
HSBC’s interest percent | 24.77% | ||||||
The London Gold Market Fixing Limited | |||||||
Disclosure of associates [line items] | |||||||
HSBC’s interest percent | 25.00% | ||||||
The Saudi British Bank | |||||||
Disclosure of associates [line items] | |||||||
HSBC’s interest percent | 31.00% | 31.00% | 29.20% | 31.00% | 40.00% | 30.99% | 29.20% |
Trade Information Network | |||||||
Disclosure of associates [line items] | |||||||
HSBC’s interest percent | 16.67% | ||||||
Vizolution Limited | |||||||
Disclosure of associates [line items] | |||||||
HSBC’s interest percent | 17.95% | ||||||
We Trade Innovation Designated Activity Company | |||||||
Disclosure of associates [line items] | |||||||
HSBC’s interest percent | 8.52% |
HSBC Holdings' subsidiaries, _5
HSBC Holdings' subsidiaries, joint ventures and associates - Joint Ventures (Details) | 12 Months Ended |
Dec. 31, 2020 | |
CCF & Partners Asset Management Limited | |
Disclosure of joint ventures [line items] | |
Group interest percent | 100.00% |
Global Payments Technology Mexico S.A. De C.V. | |
Disclosure of joint ventures [line items] | |
Group interest percent | 50.00% |
House Network Sdn Bhd | |
Disclosure of joint ventures [line items] | |
Group interest percent | 25.00% |
HSBC Life Insurance Company Limited | |
Disclosure of joint ventures [line items] | |
Group interest percent | 50.00% |
HSBC Pollination Climate Asset Management Limited | |
Disclosure of joint ventures [line items] | |
Group interest percent | 40.00% |
ProServe Bermuda Limited | |
Disclosure of joint ventures [line items] | |
Group interest percent | 50.00% |
Vaultex UK Limited | |
Disclosure of joint ventures [line items] | |
Group interest percent | 50.00% |
HSBC Holdings | CCF & Partners Asset Management Limited | |
Disclosure of joint ventures [line items] | |
Group interest percent | 99.99% |
Report Of The Directors Finan_3
Report Of The Directors Financial Review Risk Report - Summary of financial instruments impacted by IBOR reform (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets | $ 2,880,751 | $ 2,621,427 |
Financial liabilities | 2,655,014 | $ 2,409,361 |
USD LIBOR | Amendments To Financial Instruments, IBOR Reform | Interest rate | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 3,045,337 | |
USD LIBOR | Non-derivative Financial Assets | Amendments To Financial Instruments, IBOR Reform | Interest rate | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets | 94,148 | |
USD LIBOR | Non-derivative Financial Liabilities | Amendments To Financial Instruments, IBOR Reform | Interest rate | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities | 33,602 | |
GBP LIBOR | Amendments To Financial Instruments, IBOR Reform | Interest rate | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 1,196,865 | |
GBP LIBOR | Non-derivative Financial Assets | Amendments To Financial Instruments, IBOR Reform | Interest rate | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets | 46,587 | |
GBP LIBOR | Non-derivative Financial Liabilities | Amendments To Financial Instruments, IBOR Reform | Interest rate | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities | 7,183 | |
JPY LIBOR | Amendments To Financial Instruments, IBOR Reform | Interest rate | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 508,200 | |
JPY LIBOR | Non-derivative Financial Assets | Amendments To Financial Instruments, IBOR Reform | Interest rate | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets | 371 | |
JPY LIBOR | Non-derivative Financial Liabilities | Amendments To Financial Instruments, IBOR Reform | Interest rate | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities | 1,548 | |
Others | Amendments To Financial Instruments, IBOR Reform | Interest rate | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount | 514,959 | |
Others | Non-derivative Financial Assets | Amendments To Financial Instruments, IBOR Reform | Interest rate | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets | 10,763 | |
Others | Non-derivative Financial Liabilities | Amendments To Financial Instruments, IBOR Reform | Interest rate | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities | $ 549 |
Report Of The Directors Finan_4
Report Of The Directors Financial Review Risk Report - Summary of financial instruments to which the impairment requirements in IFRS 9 are applied (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of financial assets [line items] | ||
Financial assets | $ 2,880,751 | $ 2,621,427 |
Off-balance sheet commitments | 262,877 | 273,380 |
Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 88,639 | 85,735 |
Loans and other credit-related commitments | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | 184,989 | 197,579 |
Loans and advances to customers at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,037,987 | 1,036,743 |
Loans and advances to banks at amortised cost | ||
Disclosure of financial assets [line items] | ||
Financial assets | 81,616 | 69,203 |
Debt securities | ||
Disclosure of financial assets [line items] | ||
Financial assets | 88,639 | 85,735 |
Debt securities | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 76,882 | 75,259 |
Gross carrying/nominal amount | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | 263,103 | 273,512 |
Gross carrying/nominal amount | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 2,584,710 | 2,350,116 |
Gross carrying/nominal amount | Loans and other credit-related commitments | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | 184,989 | 197,579 |
Gross carrying/nominal amount | Loans and advances to customers at amortised cost | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,052,477 | 1,045,475 |
Gross carrying/nominal amount | Loans and advances to customers at amortised cost | – personal | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 460,809 | 434,271 |
Gross carrying/nominal amount | Loans and advances to customers at amortised cost | – corporate and commercial | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 527,088 | 540,499 |
Gross carrying/nominal amount | Loans and advances to customers at amortised cost | – non-bank financial institutions | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 64,580 | 70,705 |
Gross carrying/nominal amount | Loans and advances to banks at amortised cost | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 81,658 | 69,219 |
Gross carrying/nominal amount | Other | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 772,408 | 615,179 |
Gross carrying/nominal amount | Debt securities | Financial assets measured at fair value through other comprehensive income, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 399,717 | 355,664 |
Allowance for ECL | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | (226) | (132) |
Allowance for ECL | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | (15,566) | (9,243) |
Allowance for ECL | Loans and other credit-related commitments | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | 0 | 0 |
Allowance for ECL | Loans and advances to customers at amortised cost | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | (14,490) | (8,732) |
Allowance for ECL | Loans and advances to customers at amortised cost | – personal | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | (4,731) | (3,134) |
Allowance for ECL | Loans and advances to customers at amortised cost | – corporate and commercial | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | (9,494) | (5,438) |
Allowance for ECL | Loans and advances to customers at amortised cost | – non-bank financial institutions | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | (265) | (160) |
Allowance for ECL | Loans and advances to banks at amortised cost | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | (42) | (16) |
Allowance for ECL | Other | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | (175) | (118) |
Allowance for ECL | Debt securities | Financial assets measured at fair value through other comprehensive income, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | (141) | (166) |
IFRS 9 | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | 677,308 | 619,866 |
Financial assets and off-balance sheet loan commitments | 2,569,144 | 2,340,873 |
IFRS 9 | Financial assets measured at fair value through other comprehensive income, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 391,762 | 351,725 |
IFRS 9 | Loans and other credit-related commitments | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | 659,049 | 599,700 |
IFRS 9 | Financial guarantees | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | 18,259 | 20,166 |
IFRS 9 | Loans and advances to customers at amortised cost | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,037,987 | 1,036,743 |
IFRS 9 | Loans and advances to customers at amortised cost | – personal | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 456,078 | 431,137 |
IFRS 9 | Loans and advances to customers at amortised cost | – corporate and commercial | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 517,594 | 535,061 |
IFRS 9 | Loans and advances to customers at amortised cost | – non-bank financial institutions | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 64,315 | 70,545 |
IFRS 9 | Loans and advances to banks at amortised cost | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 81,616 | 69,203 |
IFRS 9 | Other | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 772,233 | 615,061 |
IFRS 9 | – cash and balances at central banks | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 304,481 | 154,099 |
IFRS 9 | Items in the course of collection from other banks | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 4,094 | 4,956 |
IFRS 9 | Hong Kong Government certificates of indebtedness | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 40,420 | 38,380 |
IFRS 9 | – reverse repurchase agreements – non-trading | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 230,628 | 240,862 |
IFRS 9 | – financial investments | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 88,639 | 85,735 |
IFRS 9 | Debt securities | Financial assets measured at fair value through other comprehensive income, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 391,762 | 351,725 |
IFRS 9 | Gross carrying/nominal amount | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,906,543 | 1,729,873 |
Off-balance sheet commitments | 678,167 | 620,243 |
Financial assets and off-balance sheet loan commitments | 2,584,710 | 2,350,116 |
IFRS 9 | Gross carrying/nominal amount | Financial assets measured at fair value through other comprehensive income, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 391,903 | 351,891 |
IFRS 9 | Gross carrying/nominal amount | Loans and other credit-related commitments | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | 659,783 | 600,029 |
IFRS 9 | Gross carrying/nominal amount | Loans and other credit-related commitments | – personal | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | 236,170 | 223,314 |
IFRS 9 | Gross carrying/nominal amount | Loans and other credit-related commitments | – corporate and commercial | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | 299,802 | 278,524 |
IFRS 9 | Gross carrying/nominal amount | Loans and other credit-related commitments | – non-bank financial institutions | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | 123,811 | 98,191 |
IFRS 9 | Gross carrying/nominal amount | Financial guarantees | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | 18,384 | 20,214 |
IFRS 9 | Gross carrying/nominal amount | Financial guarantees | – personal | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | 900 | 804 |
IFRS 9 | Gross carrying/nominal amount | Financial guarantees | – corporate and commercial | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | 12,946 | 14,804 |
IFRS 9 | Gross carrying/nominal amount | Financial guarantees | – non-bank financial institutions | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | 4,538 | 4,606 |
IFRS 9 | Gross carrying/nominal amount | Loans and advances to customers at amortised cost | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,052,477 | 1,045,475 |
IFRS 9 | Gross carrying/nominal amount | Loans and advances to customers at amortised cost | – personal | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 460,809 | 434,271 |
IFRS 9 | Gross carrying/nominal amount | Loans and advances to customers at amortised cost | – corporate and commercial | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 527,088 | 540,499 |
IFRS 9 | Gross carrying/nominal amount | Loans and advances to customers at amortised cost | – non-bank financial institutions | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 64,580 | 70,705 |
IFRS 9 | Gross carrying/nominal amount | Loans and advances to banks at amortised cost | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 81,658 | 69,219 |
IFRS 9 | Gross carrying/nominal amount | Other | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 772,408 | 615,179 |
IFRS 9 | Gross carrying/nominal amount | – cash and balances at central banks | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 304,486 | 154,101 |
IFRS 9 | Gross carrying/nominal amount | Items in the course of collection from other banks | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 4,094 | 4,956 |
IFRS 9 | Gross carrying/nominal amount | Hong Kong Government certificates of indebtedness | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 40,420 | 38,380 |
IFRS 9 | Gross carrying/nominal amount | – reverse repurchase agreements – non-trading | ||
Disclosure of financial assets [line items] | ||
Financial assets | 61,716 | 53,093 |
IFRS 9 | Gross carrying/nominal amount | – reverse repurchase agreements – non-trading | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 230,628 | 240,862 |
IFRS 9 | Gross carrying/nominal amount | – financial investments | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 88,719 | 85,788 |
IFRS 9 | Gross carrying/nominal amount | Prepayments, accrued income and other assets | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 104,061 | 91,092 |
IFRS 9 | Gross carrying/nominal amount | Debt securities | Financial assets measured at fair value through other comprehensive income, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 391,903 | 351,891 |
IFRS 9 | Allowance for ECL | ||
Disclosure of financial assets [line items] | ||
Financial assets | (14,707) | (8,866) |
Off-balance sheet commitments | (859) | (377) |
Financial assets and off-balance sheet loan commitments | (15,566) | (9,243) |
IFRS 9 | Allowance for ECL | Financial assets measured at fair value through other comprehensive income, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | (141) | (166) |
IFRS 9 | Allowance for ECL | Loans and other credit-related commitments | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | (734) | (329) |
IFRS 9 | Allowance for ECL | Loans and other credit-related commitments | – personal | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | (40) | (15) |
IFRS 9 | Allowance for ECL | Loans and other credit-related commitments | – corporate and commercial | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | (650) | (307) |
IFRS 9 | Allowance for ECL | Loans and other credit-related commitments | – non-bank financial institutions | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | (44) | (7) |
IFRS 9 | Allowance for ECL | Financial guarantees | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | (125) | (48) |
IFRS 9 | Allowance for ECL | Financial guarantees | – personal | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | (1) | (1) |
IFRS 9 | Allowance for ECL | Financial guarantees | – corporate and commercial | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | (114) | (44) |
IFRS 9 | Allowance for ECL | Financial guarantees | – non-bank financial institutions | ||
Disclosure of financial assets [line items] | ||
Off-balance sheet commitments | (10) | (3) |
IFRS 9 | Allowance for ECL | Loans and advances to customers at amortised cost | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | (14,490) | (8,732) |
IFRS 9 | Allowance for ECL | Loans and advances to customers at amortised cost | – personal | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | (4,731) | (3,134) |
IFRS 9 | Allowance for ECL | Loans and advances to customers at amortised cost | – corporate and commercial | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | (9,494) | (5,438) |
IFRS 9 | Allowance for ECL | Loans and advances to customers at amortised cost | – non-bank financial institutions | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | (265) | (160) |
IFRS 9 | Allowance for ECL | Loans and advances to banks at amortised cost | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | (42) | (16) |
IFRS 9 | Allowance for ECL | Other | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | (175) | (118) |
IFRS 9 | Allowance for ECL | – cash and balances at central banks | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | (5) | (2) |
IFRS 9 | Allowance for ECL | Items in the course of collection from other banks | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Allowance for ECL | Hong Kong Government certificates of indebtedness | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Allowance for ECL | – reverse repurchase agreements – non-trading | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Allowance for ECL | – financial investments | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | (80) | (53) |
IFRS 9 | Allowance for ECL | Prepayments, accrued income and other assets | Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | (90) | (63) |
IFRS 9 | Allowance for ECL | Debt securities | Financial assets measured at fair value through other comprehensive income, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ (141) | $ (166) |
Report Of The Directors Finan_5
Report Of The Directors Financial Review Risk Report - Summary of credit risk (excluding debt instruments measured at FVOCI) by stage distribution and ECL coverage by industry sector (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 2,880,751 | $ 2,621,427 |
Loans and advances to customers at amortised cost | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 1,037,987 | 1,036,743 |
Loans and advances to banks at amortised cost | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 81,616 | 69,203 |
Financial assets at amortised cost, category | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 88,639 | $ 85,735 |
ECL coverage | 0.60% | 0.40% |
Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 2,584,710 | $ 2,350,116 |
Financial assets at amortised cost, category | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (15,566) | $ (9,243) |
Financial assets at amortised cost, category | 12-month expected credit losses | Non-credit impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.10% | 0.10% |
Financial assets at amortised cost, category | 12-month expected credit losses | Non-credit impaired | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 2,336,365 | $ 2,227,867 |
Financial assets at amortised cost, category | 12-month expected credit losses | Non-credit impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (2,414) | $ (1,502) |
Financial assets at amortised cost, category | Lifetime expected credit losses | Non-credit impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 2.40% | 2.30% |
Financial assets at amortised cost, category | Lifetime expected credit losses | Non-credit impaired | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 227,405 | $ 107,417 |
Financial assets at amortised cost, category | Lifetime expected credit losses | Non-credit impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (5,445) | $ (2,479) |
Financial assets at amortised cost, category | Lifetime expected credit losses | Credit impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 36.80% | 35.60% |
Financial assets at amortised cost, category | Lifetime expected credit losses | Credit impaired | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 20,621 | $ 14,486 |
Financial assets at amortised cost, category | Lifetime expected credit losses | Credit impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (7,585) | $ (5,163) |
Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 38.20% | 28.60% |
Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 319 | $ 346 |
Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (122) | $ (99) |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 1.40% | 0.80% |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 1,052,477 | $ 1,045,475 |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (14,490) | $ (8,732) |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | 12-month expected credit losses | Non-credit impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.20% | 0.10% |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | 12-month expected credit losses | Non-credit impaired | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 869,920 | $ 951,583 |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | 12-month expected credit losses | Non-credit impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (1,974) | $ (1,297) |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | Lifetime expected credit losses | Non-credit impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 3.00% | 2.80% |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | Lifetime expected credit losses | Non-credit impaired | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 163,185 | $ 80,182 |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | Lifetime expected credit losses | Non-credit impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (4,965) | $ (2,284) |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | Lifetime expected credit losses | Credit impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 39.00% | 37.80% |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | Lifetime expected credit losses | Credit impaired | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 19,095 | $ 13,378 |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | Lifetime expected credit losses | Credit impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (7,439) | $ (5,052) |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | Lifetime expected credit losses | POCI | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 40.40% | 29.80% |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | Lifetime expected credit losses | POCI | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 277 | $ 332 |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | Lifetime expected credit losses | POCI | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (112) | $ (99) |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | – personal | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 1.00% | 0.70% |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | – personal | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 460,809 | $ 434,271 |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | – personal | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (4,731) | $ (3,134) |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | – personal | 12-month expected credit losses | Non-credit impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.20% | 0.10% |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | – personal | 12-month expected credit losses | Non-credit impaired | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 430,134 | $ 413,669 |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | – personal | 12-month expected credit losses | Non-credit impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (827) | $ (583) |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | – personal | Lifetime expected credit losses | Non-credit impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 9.60% | 8.50% |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | – personal | Lifetime expected credit losses | Non-credit impaired | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 25,064 | $ 15,751 |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | – personal | Lifetime expected credit losses | Non-credit impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (2,402) | $ (1,336) |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | – personal | Lifetime expected credit losses | Credit impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 26.80% | 25.00% |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | – personal | Lifetime expected credit losses | Credit impaired | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 5,611 | $ 4,851 |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | – personal | Lifetime expected credit losses | Credit impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (1,502) | $ (1,215) |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | – personal | Lifetime expected credit losses | POCI | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | – personal | Lifetime expected credit losses | POCI | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 0 | $ 0 |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | – personal | Lifetime expected credit losses | POCI | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 0 | $ 0 |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | – corporate and commercial | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 1.80% | 1.00% |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | – corporate and commercial | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 527,088 | $ 540,499 |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | – corporate and commercial | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (9,494) | $ (5,438) |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | – corporate and commercial | 12-month expected credit losses | Non-credit impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.30% | 0.10% |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | – corporate and commercial | 12-month expected credit losses | Non-credit impaired | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 387,563 | $ 472,253 |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | – corporate and commercial | 12-month expected credit losses | Non-credit impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (1,101) | $ (672) |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | – corporate and commercial | Lifetime expected credit losses | Non-credit impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 1.90% | 1.50% |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | – corporate and commercial | Lifetime expected credit losses | Non-credit impaired | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 126,287 | $ 59,599 |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | – corporate and commercial | Lifetime expected credit losses | Non-credit impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (2,444) | $ (920) |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | – corporate and commercial | Lifetime expected credit losses | Credit impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 45.00% | 45.10% |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | – corporate and commercial | Lifetime expected credit losses | Credit impaired | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 12,961 | $ 8,315 |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | – corporate and commercial | Lifetime expected credit losses | Credit impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (5,837) | $ (3,747) |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | – corporate and commercial | Lifetime expected credit losses | POCI | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 40.40% | 29.80% |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | – corporate and commercial | Lifetime expected credit losses | POCI | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 277 | $ 332 |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | – corporate and commercial | Lifetime expected credit losses | POCI | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (112) | $ (99) |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | – non-bank financial institutions | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.40% | 0.20% |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | – non-bank financial institutions | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 64,580 | $ 70,705 |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | – non-bank financial institutions | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (265) | $ (160) |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | – non-bank financial institutions | 12-month expected credit losses | Non-credit impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.10% | 0.10% |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | – non-bank financial institutions | 12-month expected credit losses | Non-credit impaired | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 52,223 | $ 65,661 |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | – non-bank financial institutions | 12-month expected credit losses | Non-credit impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (46) | $ (42) |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | – non-bank financial institutions | Lifetime expected credit losses | Non-credit impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 1.00% | 0.60% |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | – non-bank financial institutions | Lifetime expected credit losses | Non-credit impaired | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 11,834 | $ 4,832 |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | – non-bank financial institutions | Lifetime expected credit losses | Non-credit impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (119) | $ (28) |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | – non-bank financial institutions | Lifetime expected credit losses | Credit impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 19.10% | 42.50% |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | – non-bank financial institutions | Lifetime expected credit losses | Credit impaired | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 523 | $ 212 |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | – non-bank financial institutions | Lifetime expected credit losses | Credit impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (100) | $ (90) |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | – non-bank financial institutions | Lifetime expected credit losses | POCI | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | – non-bank financial institutions | Lifetime expected credit losses | POCI | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 0 | $ 0 |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | – non-bank financial institutions | Lifetime expected credit losses | POCI | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 0 | $ 0 |
Financial assets at amortised cost, category | Loans and advances to banks at amortised cost | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.10% | 0.00% |
Financial assets at amortised cost, category | Loans and advances to banks at amortised cost | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 81,658 | $ 69,219 |
Financial assets at amortised cost, category | Loans and advances to banks at amortised cost | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (42) | $ (16) |
Financial assets at amortised cost, category | Loans and advances to banks at amortised cost | 12-month expected credit losses | Non-credit impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | Loans and advances to banks at amortised cost | 12-month expected credit losses | Non-credit impaired | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 79,654 | $ 67,769 |
Financial assets at amortised cost, category | Loans and advances to banks at amortised cost | 12-month expected credit losses | Non-credit impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (33) | $ (14) |
Financial assets at amortised cost, category | Loans and advances to banks at amortised cost | Lifetime expected credit losses | Non-credit impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.40% | 0.10% |
Financial assets at amortised cost, category | Loans and advances to banks at amortised cost | Lifetime expected credit losses | Non-credit impaired | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 2,004 | $ 1,450 |
Financial assets at amortised cost, category | Loans and advances to banks at amortised cost | Lifetime expected credit losses | Non-credit impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (9) | $ (2) |
Financial assets at amortised cost, category | Loans and advances to banks at amortised cost | Lifetime expected credit losses | Credit impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | Loans and advances to banks at amortised cost | Lifetime expected credit losses | Credit impaired | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 0 | $ 0 |
Financial assets at amortised cost, category | Loans and advances to banks at amortised cost | Lifetime expected credit losses | Credit impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 0 | $ 0 |
Financial assets at amortised cost, category | Loans and advances to banks at amortised cost | Lifetime expected credit losses | POCI | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | Loans and advances to banks at amortised cost | Lifetime expected credit losses | POCI | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 0 | $ 0 |
Financial assets at amortised cost, category | Loans and advances to banks at amortised cost | Lifetime expected credit losses | POCI | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 0 | $ 0 |
Financial assets at amortised cost, category | Other | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | Other | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 772,408 | $ 615,179 |
Financial assets at amortised cost, category | Other | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (175) | $ (118) |
Financial assets at amortised cost, category | Other | 12-month expected credit losses | Non-credit impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | Other | 12-month expected credit losses | Non-credit impaired | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 768,216 | $ 613,200 |
Financial assets at amortised cost, category | Other | 12-month expected credit losses | Non-credit impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (80) | $ (38) |
Financial assets at amortised cost, category | Other | Lifetime expected credit losses | Non-credit impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 1.10% | 2.10% |
Financial assets at amortised cost, category | Other | Lifetime expected credit losses | Non-credit impaired | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 3,975 | $ 1,827 |
Financial assets at amortised cost, category | Other | Lifetime expected credit losses | Non-credit impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (44) | $ (38) |
Financial assets at amortised cost, category | Other | Lifetime expected credit losses | Credit impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 23.70% | 27.80% |
Financial assets at amortised cost, category | Other | Lifetime expected credit losses | Credit impaired | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 177 | $ 151 |
Financial assets at amortised cost, category | Other | Lifetime expected credit losses | Credit impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (42) | $ (42) |
Financial assets at amortised cost, category | Other | Lifetime expected credit losses | POCI | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 22.50% | 0.00% |
Financial assets at amortised cost, category | Other | Lifetime expected credit losses | POCI | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 40 | $ 1 |
Financial assets at amortised cost, category | Other | Lifetime expected credit losses | POCI | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (9) | $ 0 |
Financial assets at amortised cost, category | Loans and other credit-related commitments | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.10% | 0.10% |
Financial assets at amortised cost, category | Loans and other credit-related commitments | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 659,783 | $ 600,029 |
Financial assets at amortised cost, category | Loans and other credit-related commitments | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (734) | $ (329) |
Financial assets at amortised cost, category | Loans and other credit-related commitments | 12-month expected credit losses | Non-credit impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | Loans and other credit-related commitments | 12-month expected credit losses | Non-credit impaired | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 604,485 | $ 577,631 |
Financial assets at amortised cost, category | Loans and other credit-related commitments | 12-month expected credit losses | Non-credit impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (290) | $ (137) |
Financial assets at amortised cost, category | Loans and other credit-related commitments | Lifetime expected credit losses | Non-credit impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.70% | 0.60% |
Financial assets at amortised cost, category | Loans and other credit-related commitments | Lifetime expected credit losses | Non-credit impaired | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 54,217 | $ 21,618 |
Financial assets at amortised cost, category | Loans and other credit-related commitments | Lifetime expected credit losses | Non-credit impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (365) | $ (133) |
Financial assets at amortised cost, category | Loans and other credit-related commitments | Lifetime expected credit losses | Credit impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 7.20% | 7.70% |
Financial assets at amortised cost, category | Loans and other credit-related commitments | Lifetime expected credit losses | Credit impaired | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 1,080 | $ 771 |
Financial assets at amortised cost, category | Loans and other credit-related commitments | Lifetime expected credit losses | Credit impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (78) | $ (59) |
Financial assets at amortised cost, category | Loans and other credit-related commitments | Lifetime expected credit losses | POCI | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 100.00% | 0.00% |
Financial assets at amortised cost, category | Loans and other credit-related commitments | Lifetime expected credit losses | POCI | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 1 | $ 9 |
Financial assets at amortised cost, category | Loans and other credit-related commitments | Lifetime expected credit losses | POCI | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (1) | $ 0 |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – personal | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – personal | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 236,170 | $ 223,314 |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – personal | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (40) | $ (15) |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – personal | 12-month expected credit losses | Non-credit impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – personal | 12-month expected credit losses | Non-credit impaired | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 234,337 | $ 221,490 |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – personal | 12-month expected credit losses | Non-credit impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (39) | $ (13) |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – personal | Lifetime expected credit losses | Non-credit impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.10% | 0.10% |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – personal | Lifetime expected credit losses | Non-credit impaired | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 1,681 | $ 1,630 |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – personal | Lifetime expected credit losses | Non-credit impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (1) | $ (2) |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – personal | Lifetime expected credit losses | Credit impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – personal | Lifetime expected credit losses | Credit impaired | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 152 | $ 194 |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – personal | Lifetime expected credit losses | Credit impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 0 | $ 0 |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – personal | Lifetime expected credit losses | POCI | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – personal | Lifetime expected credit losses | POCI | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 0 | $ 0 |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – personal | Lifetime expected credit losses | POCI | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 0 | $ 0 |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – corporate and commercial | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.20% | 0.10% |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – corporate and commercial | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 299,802 | $ 278,524 |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – corporate and commercial | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (650) | $ (307) |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – corporate and commercial | 12-month expected credit losses | Non-credit impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.10% | 0.00% |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – corporate and commercial | 12-month expected credit losses | Non-credit impaired | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 253,062 | $ 259,138 |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – corporate and commercial | 12-month expected credit losses | Non-credit impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (236) | $ (118) |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – corporate and commercial | Lifetime expected credit losses | Non-credit impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.70% | 0.70% |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – corporate and commercial | Lifetime expected credit losses | Non-credit impaired | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 45,851 | $ 18,804 |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – corporate and commercial | Lifetime expected credit losses | Non-credit impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (338) | $ (130) |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – corporate and commercial | Lifetime expected credit losses | Credit impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 8.40% | 10.30% |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – corporate and commercial | Lifetime expected credit losses | Credit impaired | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 888 | $ 573 |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – corporate and commercial | Lifetime expected credit losses | Credit impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (75) | $ (59) |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – corporate and commercial | Lifetime expected credit losses | POCI | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 100.00% | 0.00% |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – corporate and commercial | Lifetime expected credit losses | POCI | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 1 | $ 9 |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – corporate and commercial | Lifetime expected credit losses | POCI | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (1) | $ 0 |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – financial | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – financial | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 123,811 | $ 98,191 |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – financial | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (44) | $ (7) |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – financial | 12-month expected credit losses | Non-credit impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – financial | 12-month expected credit losses | Non-credit impaired | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 117,086 | $ 97,003 |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – financial | 12-month expected credit losses | Non-credit impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (15) | $ (6) |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – financial | Lifetime expected credit losses | Non-credit impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.40% | 0.10% |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – financial | Lifetime expected credit losses | Non-credit impaired | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 6,685 | $ 1,184 |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – financial | Lifetime expected credit losses | Non-credit impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (26) | $ (1) |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – financial | Lifetime expected credit losses | Credit impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 7.50% | 0.00% |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – financial | Lifetime expected credit losses | Credit impaired | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 40 | $ 4 |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – financial | Lifetime expected credit losses | Credit impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (3) | $ 0 |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – financial | Lifetime expected credit losses | POCI | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – financial | Lifetime expected credit losses | POCI | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 0 | $ 0 |
Financial assets at amortised cost, category | Loans and other credit-related commitments | – financial | Lifetime expected credit losses | POCI | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 0 | $ 0 |
Financial assets at amortised cost, category | Financial guarantees | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.70% | 0.20% |
Financial assets at amortised cost, category | Financial guarantees | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 18,384 | $ 20,214 |
Financial assets at amortised cost, category | Financial guarantees | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (125) | $ (48) |
Financial assets at amortised cost, category | Financial guarantees | 12-month expected credit losses | Non-credit impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.30% | 0.10% |
Financial assets at amortised cost, category | Financial guarantees | 12-month expected credit losses | Non-credit impaired | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 14,090 | $ 17,684 |
Financial assets at amortised cost, category | Financial guarantees | 12-month expected credit losses | Non-credit impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (37) | $ (16) |
Financial assets at amortised cost, category | Financial guarantees | Lifetime expected credit losses | Non-credit impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 1.50% | 0.90% |
Financial assets at amortised cost, category | Financial guarantees | Lifetime expected credit losses | Non-credit impaired | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 4,024 | $ 2,340 |
Financial assets at amortised cost, category | Financial guarantees | Lifetime expected credit losses | Non-credit impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (62) | $ (22) |
Financial assets at amortised cost, category | Financial guarantees | Lifetime expected credit losses | Credit impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 9.70% | 5.40% |
Financial assets at amortised cost, category | Financial guarantees | Lifetime expected credit losses | Credit impaired | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 269 | $ 186 |
Financial assets at amortised cost, category | Financial guarantees | Lifetime expected credit losses | Credit impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (26) | $ (10) |
Financial assets at amortised cost, category | Financial guarantees | Lifetime expected credit losses | POCI | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | Financial guarantees | Lifetime expected credit losses | POCI | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 1 | $ 4 |
Financial assets at amortised cost, category | Financial guarantees | Lifetime expected credit losses | POCI | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 0 | $ 0 |
Financial assets at amortised cost, category | Financial guarantees | – personal | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.10% | 0.10% |
Financial assets at amortised cost, category | Financial guarantees | – personal | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 900 | $ 804 |
Financial assets at amortised cost, category | Financial guarantees | – personal | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (1) | $ (1) |
Financial assets at amortised cost, category | Financial guarantees | – personal | 12-month expected credit losses | Non-credit impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.00% | 0.10% |
Financial assets at amortised cost, category | Financial guarantees | – personal | 12-month expected credit losses | Non-credit impaired | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 872 | $ 802 |
Financial assets at amortised cost, category | Financial guarantees | – personal | 12-month expected credit losses | Non-credit impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 0 | $ (1) |
Financial assets at amortised cost, category | Financial guarantees | – personal | Lifetime expected credit losses | Non-credit impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 3.80% | 0.00% |
Financial assets at amortised cost, category | Financial guarantees | – personal | Lifetime expected credit losses | Non-credit impaired | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 26 | $ 1 |
Financial assets at amortised cost, category | Financial guarantees | – personal | Lifetime expected credit losses | Non-credit impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (1) | $ 0 |
Financial assets at amortised cost, category | Financial guarantees | – personal | Lifetime expected credit losses | Credit impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | Financial guarantees | – personal | Lifetime expected credit losses | Credit impaired | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 2 | $ 1 |
Financial assets at amortised cost, category | Financial guarantees | – personal | Lifetime expected credit losses | Credit impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 0 | $ 0 |
Financial assets at amortised cost, category | Financial guarantees | – personal | Lifetime expected credit losses | POCI | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | Financial guarantees | – personal | Lifetime expected credit losses | POCI | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 0 | $ 0 |
Financial assets at amortised cost, category | Financial guarantees | – personal | Lifetime expected credit losses | POCI | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 0 | $ 0 |
Financial assets at amortised cost, category | Financial guarantees | – corporate and commercial | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.90% | 0.30% |
Financial assets at amortised cost, category | Financial guarantees | – corporate and commercial | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 12,946 | $ 14,804 |
Financial assets at amortised cost, category | Financial guarantees | – corporate and commercial | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (114) | $ (44) |
Financial assets at amortised cost, category | Financial guarantees | – corporate and commercial | 12-month expected credit losses | Non-credit impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.40% | 0.10% |
Financial assets at amortised cost, category | Financial guarantees | – corporate and commercial | 12-month expected credit losses | Non-credit impaired | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 9,536 | $ 12,540 |
Financial assets at amortised cost, category | Financial guarantees | – corporate and commercial | 12-month expected credit losses | Non-credit impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (35) | $ (14) |
Financial assets at amortised cost, category | Financial guarantees | – corporate and commercial | Lifetime expected credit losses | Non-credit impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 1.70% | 1.00% |
Financial assets at amortised cost, category | Financial guarantees | – corporate and commercial | Lifetime expected credit losses | Non-credit impaired | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 3,157 | $ 2,076 |
Financial assets at amortised cost, category | Financial guarantees | – corporate and commercial | Lifetime expected credit losses | Non-credit impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (54) | $ (21) |
Financial assets at amortised cost, category | Financial guarantees | – corporate and commercial | Lifetime expected credit losses | Credit impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 9.90% | 4.90% |
Financial assets at amortised cost, category | Financial guarantees | – corporate and commercial | Lifetime expected credit losses | Credit impaired | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 252 | $ 184 |
Financial assets at amortised cost, category | Financial guarantees | – corporate and commercial | Lifetime expected credit losses | Credit impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (25) | $ (9) |
Financial assets at amortised cost, category | Financial guarantees | – corporate and commercial | Lifetime expected credit losses | POCI | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | Financial guarantees | – corporate and commercial | Lifetime expected credit losses | POCI | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 1 | $ 4 |
Financial assets at amortised cost, category | Financial guarantees | – corporate and commercial | Lifetime expected credit losses | POCI | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 0 | $ 0 |
Financial assets at amortised cost, category | Financial guarantees | – financial | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.20% | 0.10% |
Financial assets at amortised cost, category | Financial guarantees | – financial | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 4,538 | $ 4,606 |
Financial assets at amortised cost, category | Financial guarantees | – financial | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (10) | $ (3) |
Financial assets at amortised cost, category | Financial guarantees | – financial | 12-month expected credit losses | Non-credit impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.10% | 0.00% |
Financial assets at amortised cost, category | Financial guarantees | – financial | 12-month expected credit losses | Non-credit impaired | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 3,682 | $ 4,342 |
Financial assets at amortised cost, category | Financial guarantees | – financial | 12-month expected credit losses | Non-credit impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (2) | $ (1) |
Financial assets at amortised cost, category | Financial guarantees | – financial | Lifetime expected credit losses | Non-credit impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.80% | 0.40% |
Financial assets at amortised cost, category | Financial guarantees | – financial | Lifetime expected credit losses | Non-credit impaired | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 841 | $ 263 |
Financial assets at amortised cost, category | Financial guarantees | – financial | Lifetime expected credit losses | Non-credit impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (7) | $ (1) |
Financial assets at amortised cost, category | Financial guarantees | – financial | Lifetime expected credit losses | Credit impaired | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 6.70% | 100.00% |
Financial assets at amortised cost, category | Financial guarantees | – financial | Lifetime expected credit losses | Credit impaired | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 15 | $ 1 |
Financial assets at amortised cost, category | Financial guarantees | – financial | Lifetime expected credit losses | Credit impaired | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ (1) | $ (1) |
Financial assets at amortised cost, category | Financial guarantees | – financial | Lifetime expected credit losses | POCI | ||
Disclosure of credit risk exposure [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | Financial guarantees | – financial | Lifetime expected credit losses | POCI | Gross carrying/nominal amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 0 | $ 0 |
Financial assets at amortised cost, category | Financial guarantees | – financial | Lifetime expected credit losses | POCI | Allowance for ECL | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 0 | $ 0 |
Report Of The Directors Finan_6
Report Of The Directors Financial Review Risk Report - Stage 2 days past due analysis (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ 2,880,751 | $ 2,621,427 |
Loans and advances to customers at amortised cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,037,987 | 1,036,743 |
Loans and advances to banks at amortised cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 81,616 | 69,203 |
Financial assets at amortised cost, category | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ 88,639 | $ 85,735 |
ECL coverage | 0.60% | 0.40% |
Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ 2,584,710 | $ 2,350,116 |
Financial assets at amortised cost, category | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ (15,566) | $ (9,243) |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
ECL coverage | 1.40% | 0.80% |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ 1,052,477 | $ 1,045,475 |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ (14,490) | $ (8,732) |
Financial assets at amortised cost, category | Loans and advances to banks at amortised cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
ECL coverage | 0.10% | 0.00% |
Financial assets at amortised cost, category | Loans and advances to banks at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ 81,658 | $ 69,219 |
Financial assets at amortised cost, category | Loans and advances to banks at amortised cost | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ (42) | $ (16) |
Financial assets at amortised cost, category | Other | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | Other | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ 772,408 | $ 615,179 |
Financial assets at amortised cost, category | Other | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ (175) | $ (118) |
Financial assets at amortised cost, category | Non-credit impaired | Lifetime expected credit losses | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
ECL coverage | 2.40% | 2.30% |
Financial assets at amortised cost, category | Non-credit impaired | Lifetime expected credit losses | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ 227,405 | $ 107,417 |
Financial assets at amortised cost, category | Non-credit impaired | Lifetime expected credit losses | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ (5,445) | $ (2,479) |
Financial assets at amortised cost, category | Non-credit impaired | Lifetime expected credit losses | Loans and advances to customers at amortised cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
ECL coverage | 3.00% | 2.80% |
Financial assets at amortised cost, category | Non-credit impaired | Lifetime expected credit losses | Loans and advances to customers at amortised cost | Up to 29 days | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
ECL coverage | 2.70% | 2.40% |
Financial assets at amortised cost, category | Non-credit impaired | Lifetime expected credit losses | Loans and advances to customers at amortised cost | 1 to 29 DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
ECL coverage | 13.40% | 8.40% |
Financial assets at amortised cost, category | Non-credit impaired | Lifetime expected credit losses | Loans and advances to customers at amortised cost | 30 and greater DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
ECL coverage | 18.80% | 14.70% |
Financial assets at amortised cost, category | Non-credit impaired | Lifetime expected credit losses | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ 163,185 | $ 80,182 |
Financial assets at amortised cost, category | Non-credit impaired | Lifetime expected credit losses | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | Up to 29 days | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 159,367 | 76,035 |
Financial assets at amortised cost, category | Non-credit impaired | Lifetime expected credit losses | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | 1 to 29 DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 2,052 | 2,471 |
Financial assets at amortised cost, category | Non-credit impaired | Lifetime expected credit losses | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | 30 and greater DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,766 | 1,676 |
Financial assets at amortised cost, category | Non-credit impaired | Lifetime expected credit losses | Loans and advances to customers at amortised cost | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (4,965) | (2,284) |
Financial assets at amortised cost, category | Non-credit impaired | Lifetime expected credit losses | Loans and advances to customers at amortised cost | Allowance for ECL | Up to 29 days | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (4,358) | (1,829) |
Financial assets at amortised cost, category | Non-credit impaired | Lifetime expected credit losses | Loans and advances to customers at amortised cost | Allowance for ECL | 1 to 29 DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (275) | (208) |
Financial assets at amortised cost, category | Non-credit impaired | Lifetime expected credit losses | Loans and advances to customers at amortised cost | Allowance for ECL | 30 and greater DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ (332) | $ (247) |
Financial assets at amortised cost, category | Non-credit impaired | Lifetime expected credit losses | Loans and advances to banks at amortised cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
ECL coverage | 0.40% | 0.10% |
Financial assets at amortised cost, category | Non-credit impaired | Lifetime expected credit losses | Loans and advances to banks at amortised cost | Up to 29 days | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
ECL coverage | 0.40% | 0.10% |
Financial assets at amortised cost, category | Non-credit impaired | Lifetime expected credit losses | Loans and advances to banks at amortised cost | 1 to 29 DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | Non-credit impaired | Lifetime expected credit losses | Loans and advances to banks at amortised cost | 30 and greater DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | Non-credit impaired | Lifetime expected credit losses | Loans and advances to banks at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ 2,004 | $ 1,450 |
Financial assets at amortised cost, category | Non-credit impaired | Lifetime expected credit losses | Loans and advances to banks at amortised cost | Gross carrying/nominal amount | Up to 29 days | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 2,004 | 1,450 |
Financial assets at amortised cost, category | Non-credit impaired | Lifetime expected credit losses | Loans and advances to banks at amortised cost | Gross carrying/nominal amount | 1 to 29 DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Financial assets at amortised cost, category | Non-credit impaired | Lifetime expected credit losses | Loans and advances to banks at amortised cost | Gross carrying/nominal amount | 30 and greater DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Financial assets at amortised cost, category | Non-credit impaired | Lifetime expected credit losses | Loans and advances to banks at amortised cost | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (9) | (2) |
Financial assets at amortised cost, category | Non-credit impaired | Lifetime expected credit losses | Loans and advances to banks at amortised cost | Allowance for ECL | Up to 29 days | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (9) | (2) |
Financial assets at amortised cost, category | Non-credit impaired | Lifetime expected credit losses | Loans and advances to banks at amortised cost | Allowance for ECL | 1 to 29 DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Financial assets at amortised cost, category | Non-credit impaired | Lifetime expected credit losses | Loans and advances to banks at amortised cost | Allowance for ECL | 30 and greater DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ 0 | $ 0 |
Financial assets at amortised cost, category | Non-credit impaired | Lifetime expected credit losses | Other | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
ECL coverage | 1.10% | 2.10% |
Financial assets at amortised cost, category | Non-credit impaired | Lifetime expected credit losses | Other | Up to 29 days | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
ECL coverage | 1.10% | 2.10% |
Financial assets at amortised cost, category | Non-credit impaired | Lifetime expected credit losses | Other | 1 to 29 DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | Non-credit impaired | Lifetime expected credit losses | Other | 30 and greater DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | Non-credit impaired | Lifetime expected credit losses | Other | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ 3,975 | $ 1,827 |
Financial assets at amortised cost, category | Non-credit impaired | Lifetime expected credit losses | Other | Gross carrying/nominal amount | Up to 29 days | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 3,963 | 1,783 |
Financial assets at amortised cost, category | Non-credit impaired | Lifetime expected credit losses | Other | Gross carrying/nominal amount | 1 to 29 DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 3 | 14 |
Financial assets at amortised cost, category | Non-credit impaired | Lifetime expected credit losses | Other | Gross carrying/nominal amount | 30 and greater DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 9 | 30 |
Financial assets at amortised cost, category | Non-credit impaired | Lifetime expected credit losses | Other | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (44) | (38) |
Financial assets at amortised cost, category | Non-credit impaired | Lifetime expected credit losses | Other | Allowance for ECL | Up to 29 days | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (44) | (38) |
Financial assets at amortised cost, category | Non-credit impaired | Lifetime expected credit losses | Other | Allowance for ECL | 1 to 29 DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Financial assets at amortised cost, category | Non-credit impaired | Lifetime expected credit losses | Other | Allowance for ECL | 30 and greater DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ 0 | $ 0 |
Financial assets at amortised cost, category | – personal | Loans and advances to customers at amortised cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
ECL coverage | 1.00% | 0.70% |
Financial assets at amortised cost, category | – personal | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ 460,809 | $ 434,271 |
Financial assets at amortised cost, category | – personal | Loans and advances to customers at amortised cost | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ (4,731) | $ (3,134) |
Financial assets at amortised cost, category | – personal | Non-credit impaired | Lifetime expected credit losses | Loans and advances to customers at amortised cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
ECL coverage | 9.60% | 8.50% |
Financial assets at amortised cost, category | – personal | Non-credit impaired | Lifetime expected credit losses | Loans and advances to customers at amortised cost | Up to 29 days | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
ECL coverage | 8.50% | 7.40% |
Financial assets at amortised cost, category | – personal | Non-credit impaired | Lifetime expected credit losses | Loans and advances to customers at amortised cost | 1 to 29 DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
ECL coverage | 14.60% | 9.90% |
Financial assets at amortised cost, category | – personal | Non-credit impaired | Lifetime expected credit losses | Loans and advances to customers at amortised cost | 30 and greater DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
ECL coverage | 22.20% | 16.80% |
Financial assets at amortised cost, category | – personal | Non-credit impaired | Lifetime expected credit losses | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ 25,064 | $ 15,751 |
Financial assets at amortised cost, category | – personal | Non-credit impaired | Lifetime expected credit losses | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | Up to 29 days | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 22,250 | 12,658 |
Financial assets at amortised cost, category | – personal | Non-credit impaired | Lifetime expected credit losses | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | 1 to 29 DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,554 | 1,804 |
Financial assets at amortised cost, category | – personal | Non-credit impaired | Lifetime expected credit losses | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | 30 and greater DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,260 | 1,289 |
Financial assets at amortised cost, category | – personal | Non-credit impaired | Lifetime expected credit losses | Loans and advances to customers at amortised cost | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (2,402) | (1,336) |
Financial assets at amortised cost, category | – personal | Non-credit impaired | Lifetime expected credit losses | Loans and advances to customers at amortised cost | Allowance for ECL | Up to 29 days | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (1,895) | (941) |
Financial assets at amortised cost, category | – personal | Non-credit impaired | Lifetime expected credit losses | Loans and advances to customers at amortised cost | Allowance for ECL | 1 to 29 DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (227) | (178) |
Financial assets at amortised cost, category | – personal | Non-credit impaired | Lifetime expected credit losses | Loans and advances to customers at amortised cost | Allowance for ECL | 30 and greater DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ (280) | $ (217) |
Financial assets at amortised cost, category | – corporate and commercial | Loans and advances to customers at amortised cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
ECL coverage | 1.80% | 1.00% |
Financial assets at amortised cost, category | – corporate and commercial | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ 527,088 | $ 540,499 |
Financial assets at amortised cost, category | – corporate and commercial | Loans and advances to customers at amortised cost | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ (9,494) | $ (5,438) |
Financial assets at amortised cost, category | – corporate and commercial | Non-credit impaired | Lifetime expected credit losses | Loans and advances to customers at amortised cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
ECL coverage | 1.90% | 1.50% |
Financial assets at amortised cost, category | – corporate and commercial | Non-credit impaired | Lifetime expected credit losses | Loans and advances to customers at amortised cost | Up to 29 days | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
ECL coverage | 1.90% | 1.50% |
Financial assets at amortised cost, category | – corporate and commercial | Non-credit impaired | Lifetime expected credit losses | Loans and advances to customers at amortised cost | 1 to 29 DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
ECL coverage | 9.80% | 4.60% |
Financial assets at amortised cost, category | – corporate and commercial | Non-credit impaired | Lifetime expected credit losses | Loans and advances to customers at amortised cost | 30 and greater DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
ECL coverage | 10.50% | 7.80% |
Financial assets at amortised cost, category | – corporate and commercial | Non-credit impaired | Lifetime expected credit losses | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ 126,287 | $ 59,599 |
Financial assets at amortised cost, category | – corporate and commercial | Non-credit impaired | Lifetime expected credit losses | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | Up to 29 days | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 125,301 | 58,557 |
Financial assets at amortised cost, category | – corporate and commercial | Non-credit impaired | Lifetime expected credit losses | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | 1 to 29 DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 489 | 657 |
Financial assets at amortised cost, category | – corporate and commercial | Non-credit impaired | Lifetime expected credit losses | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | 30 and greater DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 497 | 385 |
Financial assets at amortised cost, category | – corporate and commercial | Non-credit impaired | Lifetime expected credit losses | Loans and advances to customers at amortised cost | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (2,444) | (920) |
Financial assets at amortised cost, category | – corporate and commercial | Non-credit impaired | Lifetime expected credit losses | Loans and advances to customers at amortised cost | Allowance for ECL | Up to 29 days | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (2,344) | (860) |
Financial assets at amortised cost, category | – corporate and commercial | Non-credit impaired | Lifetime expected credit losses | Loans and advances to customers at amortised cost | Allowance for ECL | 1 to 29 DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (48) | (30) |
Financial assets at amortised cost, category | – corporate and commercial | Non-credit impaired | Lifetime expected credit losses | Loans and advances to customers at amortised cost | Allowance for ECL | 30 and greater DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ (52) | $ (30) |
Financial assets at amortised cost, category | – non-bank financial institutions | Loans and advances to customers at amortised cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
ECL coverage | 0.40% | 0.20% |
Financial assets at amortised cost, category | – non-bank financial institutions | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ 64,580 | $ 70,705 |
Financial assets at amortised cost, category | – non-bank financial institutions | Loans and advances to customers at amortised cost | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ (265) | $ (160) |
Financial assets at amortised cost, category | – non-bank financial institutions | Non-credit impaired | Lifetime expected credit losses | Loans and advances to customers at amortised cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
ECL coverage | 1.00% | 0.60% |
Financial assets at amortised cost, category | – non-bank financial institutions | Non-credit impaired | Lifetime expected credit losses | Loans and advances to customers at amortised cost | Up to 29 days | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
ECL coverage | 1.00% | 0.60% |
Financial assets at amortised cost, category | – non-bank financial institutions | Non-credit impaired | Lifetime expected credit losses | Loans and advances to customers at amortised cost | 1 to 29 DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | – non-bank financial institutions | Non-credit impaired | Lifetime expected credit losses | Loans and advances to customers at amortised cost | 30 and greater DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
ECL coverage | 0.00% | 0.00% |
Financial assets at amortised cost, category | – non-bank financial institutions | Non-credit impaired | Lifetime expected credit losses | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ 11,834 | $ 4,832 |
Financial assets at amortised cost, category | – non-bank financial institutions | Non-credit impaired | Lifetime expected credit losses | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | Up to 29 days | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 11,816 | 4,820 |
Financial assets at amortised cost, category | – non-bank financial institutions | Non-credit impaired | Lifetime expected credit losses | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | 1 to 29 DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 9 | 10 |
Financial assets at amortised cost, category | – non-bank financial institutions | Non-credit impaired | Lifetime expected credit losses | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | 30 and greater DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 9 | 2 |
Financial assets at amortised cost, category | – non-bank financial institutions | Non-credit impaired | Lifetime expected credit losses | Loans and advances to customers at amortised cost | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (119) | (28) |
Financial assets at amortised cost, category | – non-bank financial institutions | Non-credit impaired | Lifetime expected credit losses | Loans and advances to customers at amortised cost | Allowance for ECL | Up to 29 days | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (119) | (28) |
Financial assets at amortised cost, category | – non-bank financial institutions | Non-credit impaired | Lifetime expected credit losses | Loans and advances to customers at amortised cost | Allowance for ECL | 1 to 29 DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Financial assets at amortised cost, category | – non-bank financial institutions | Non-credit impaired | Lifetime expected credit losses | Loans and advances to customers at amortised cost | Allowance for ECL | 30 and greater DPD | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ 0 | $ 0 |
Report Of The Directors Finan_7
Report Of The Directors Financial Review Risk Report - Maximum exposure to credit risk (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of detailed information about financial instruments [line items] | ||
Maximum exposure | $ 3,141,630 | $ 2,858,835 |
Offset | (335,129) | (290,258) |
Net | 2,806,501 | 2,568,577 |
On-balance sheet risk | ||
Disclosure of detailed information about financial instruments [line items] | ||
Maximum exposure | 2,201,445 | 1,965,589 |
Offset | (335,129) | (290,258) |
Net | 1,866,316 | 1,675,331 |
On-balance sheet risk | Loans and advances to customers at amortised cost | ||
Disclosure of detailed information about financial instruments [line items] | ||
Maximum exposure | 1,037,987 | 1,036,743 |
Offset | (27,221) | (28,524) |
Net | 1,010,766 | 1,008,219 |
On-balance sheet risk | Loans and advances to customers at amortised cost | – personal | ||
Disclosure of detailed information about financial instruments [line items] | ||
Maximum exposure | 456,078 | 431,137 |
Offset | (4,287) | (4,640) |
Net | 451,791 | 426,497 |
On-balance sheet risk | Loans and advances to customers at amortised cost | – corporate and commercial | ||
Disclosure of detailed information about financial instruments [line items] | ||
Maximum exposure | 517,594 | 535,061 |
Offset | (21,102) | (21,745) |
Net | 496,492 | 513,316 |
On-balance sheet risk | Loans and advances to customers at amortised cost | – non-bank financial institutions | ||
Disclosure of detailed information about financial instruments [line items] | ||
Maximum exposure | 64,315 | 70,545 |
Offset | (1,832) | (2,139) |
Net | 62,483 | 68,406 |
On-balance sheet risk | Loans and advances to banks at amortised cost | ||
Disclosure of detailed information about financial instruments [line items] | ||
Maximum exposure | 81,616 | 69,203 |
Offset | 0 | 0 |
Net | 81,616 | 69,203 |
On-balance sheet risk | Other | ||
Disclosure of detailed information about financial instruments [line items] | ||
Maximum exposure | 774,116 | 616,648 |
Offset | (14,668) | (28,826) |
Net | 759,448 | 587,822 |
On-balance sheet risk | Cash and balances at central banks | ||
Disclosure of detailed information about financial instruments [line items] | ||
Maximum exposure | 304,481 | 154,099 |
Offset | 0 | 0 |
Net | 304,481 | 154,099 |
On-balance sheet risk | Items in the course of collection from other banks | ||
Disclosure of detailed information about financial instruments [line items] | ||
Maximum exposure | 4,094 | 4,956 |
Offset | 0 | 0 |
Net | 4,094 | 4,956 |
On-balance sheet risk | Hong Kong Government certificates of indebtedness | ||
Disclosure of detailed information about financial instruments [line items] | ||
Maximum exposure | 40,420 | 38,380 |
Offset | 0 | 0 |
Net | 40,420 | 38,380 |
On-balance sheet risk | Reverse repurchase agreements – non-trading | ||
Disclosure of detailed information about financial instruments [line items] | ||
Maximum exposure | 230,628 | 240,862 |
Offset | (14,668) | (28,826) |
Net | 215,960 | 212,036 |
On-balance sheet risk | Financial investments | ||
Disclosure of detailed information about financial instruments [line items] | ||
Maximum exposure | 88,639 | 85,735 |
Offset | 0 | 0 |
Net | 88,639 | 85,735 |
On-balance sheet risk | Prepayments, accrued income and other assets | ||
Disclosure of detailed information about financial instruments [line items] | ||
Maximum exposure | 105,854 | 92,616 |
Offset | 0 | 0 |
Net | 105,854 | 92,616 |
On-balance sheet risk | Derivatives | ||
Disclosure of detailed information about financial instruments [line items] | ||
Maximum exposure | 307,726 | 242,995 |
Offset | (293,240) | (232,908) |
Net | 14,486 | 10,087 |
Off-balance sheet risk | ||
Disclosure of detailed information about financial instruments [line items] | ||
Maximum exposure | 940,185 | 893,246 |
Offset | 0 | 0 |
Net | 940,185 | 893,246 |
Off-balance sheet risk | Financial and other guarantees | ||
Disclosure of detailed information about financial instruments [line items] | ||
Maximum exposure | 96,147 | 95,967 |
Offset | 0 | 0 |
Net | 96,147 | 95,967 |
Off-balance sheet risk | Loans and other credit-related commitments | ||
Disclosure of detailed information about financial instruments [line items] | ||
Maximum exposure | 844,038 | 797,279 |
Offset | 0 | 0 |
Net | $ 844,038 | $ 797,279 |
Report Of The Directors Finan_8
Report Of The Directors Financial Review Risk Report - Measurement uncertainty and sensitivity analysis of ECL estimates (Details) | 12 Months Ended |
Dec. 31, 2020economic_scenario$ / bbl | |
Oil and Gas, Average Sale Price and Production Cost Per Unit [Line Items] | |
Number of economic scenarios | 4 |
Number of economic scenarios drawn from consensus forecasts | 3 |
West Texas Intermediate oil | |
Oil and Gas, Average Sale Price and Production Cost Per Unit [Line Items] | |
Average oil price | $ / bbl | 43 |
Report Of The Directors Finan_9
Report Of The Directors Financial Review Risk Report - Central scenario 2021–2025 (Details) - Central scenario ECL | 12 Months Ended |
Dec. 31, 2020 | |
– UK | |
Disclosure of sensitivity analysis for actuarial assumptions [abstract] | |
GDP growth rate, 5-year average | 2.80% |
Unemployment rate, 5-year average | 5.60% |
House price growth, 5-year average | 1.90% |
Short term interest rate, 5-year average | 0.20% |
Probability | 40.00% |
– UK | Reporting year | |
Disclosure of sensitivity analysis for actuarial assumptions [abstract] | |
GDP growth rate | (11.00%) |
Unemployment rate | 4.60% |
House price growth | 2.30% |
Short-term interest rate | 0.30% |
– UK | Not later than one year | |
Disclosure of sensitivity analysis for actuarial assumptions [abstract] | |
GDP growth rate | 4.90% |
Unemployment rate | 6.90% |
House price growth | (2.10%) |
Short-term interest rate | 0.10% |
– UK | One to two years | |
Disclosure of sensitivity analysis for actuarial assumptions [abstract] | |
GDP growth rate | 3.10% |
Unemployment rate | 5.80% |
House price growth | 0.90% |
Short-term interest rate | 0.10% |
– UK | Two to three years | |
Disclosure of sensitivity analysis for actuarial assumptions [abstract] | |
GDP growth rate | 2.40% |
Unemployment rate | 5.40% |
House price growth | 3.00% |
Short-term interest rate | 0.10% |
– US | |
Disclosure of sensitivity analysis for actuarial assumptions [abstract] | |
GDP growth rate, 5-year average | 2.70% |
Unemployment rate, 5-year average | 5.30% |
House price growth, 5-year average | 4.00% |
Short term interest rate, 5-year average | 0.50% |
Probability | 65.00% |
– US | Reporting year | |
Disclosure of sensitivity analysis for actuarial assumptions [abstract] | |
GDP growth rate | (4.10%) |
Unemployment rate | 8.30% |
House price growth | 6.00% |
Short-term interest rate | 0.70% |
– US | Not later than one year | |
Disclosure of sensitivity analysis for actuarial assumptions [abstract] | |
GDP growth rate | 3.80% |
Unemployment rate | 6.70% |
House price growth | 4.00% |
Short-term interest rate | 0.30% |
– US | One to two years | |
Disclosure of sensitivity analysis for actuarial assumptions [abstract] | |
GDP growth rate | 2.90% |
Unemployment rate | 5.80% |
House price growth | 4.30% |
Short-term interest rate | 0.30% |
– US | Two to three years | |
Disclosure of sensitivity analysis for actuarial assumptions [abstract] | |
GDP growth rate | 2.40% |
Unemployment rate | 4.90% |
House price growth | 4.00% |
Short-term interest rate | 0.40% |
– Hong Kong | |
Disclosure of sensitivity analysis for actuarial assumptions [abstract] | |
GDP growth rate, 5-year average | 2.90% |
Unemployment rate, 5-year average | 4.00% |
House price growth, 5-year average | 2.30% |
Short term interest rate, 5-year average | 1.30% |
Probability | 70.00% |
– Hong Kong | Reporting year | |
Disclosure of sensitivity analysis for actuarial assumptions [abstract] | |
GDP growth rate | (6.40%) |
Unemployment rate | 5.80% |
House price growth | (0.80%) |
Short-term interest rate | 1.20% |
– Hong Kong | Not later than one year | |
Disclosure of sensitivity analysis for actuarial assumptions [abstract] | |
GDP growth rate | 4.30% |
Unemployment rate | 5.00% |
House price growth | (2.20%) |
Short-term interest rate | 1.00% |
– Hong Kong | One to two years | |
Disclosure of sensitivity analysis for actuarial assumptions [abstract] | |
GDP growth rate | 2.90% |
Unemployment rate | 3.90% |
House price growth | 2.40% |
Short-term interest rate | 1.10% |
– Hong Kong | Two to three years | |
Disclosure of sensitivity analysis for actuarial assumptions [abstract] | |
GDP growth rate | 2.60% |
Unemployment rate | 3.80% |
House price growth | 5.20% |
Short-term interest rate | 1.20% |
Mainland China | |
Disclosure of sensitivity analysis for actuarial assumptions [abstract] | |
GDP growth rate, 5-year average | 5.60% |
Unemployment rate, 5-year average | 4.00% |
House price growth, 5-year average | 4.70% |
Short term interest rate, 5-year average | 3.10% |
Probability | 80.00% |
Mainland China | Reporting year | |
Disclosure of sensitivity analysis for actuarial assumptions [abstract] | |
GDP growth rate | 2.00% |
Unemployment rate | 3.90% |
House price growth | 2.30% |
Short-term interest rate | 3.20% |
Mainland China | Not later than one year | |
Disclosure of sensitivity analysis for actuarial assumptions [abstract] | |
GDP growth rate | 7.80% |
Unemployment rate | 4.10% |
House price growth | 4.70% |
Short-term interest rate | 2.90% |
Mainland China | One to two years | |
Disclosure of sensitivity analysis for actuarial assumptions [abstract] | |
GDP growth rate | 5.30% |
Unemployment rate | 4.20% |
House price growth | 5.70% |
Short-term interest rate | 3.00% |
Mainland China | Two to three years | |
Disclosure of sensitivity analysis for actuarial assumptions [abstract] | |
GDP growth rate | 5.20% |
Unemployment rate | 4.10% |
House price growth | 5.00% |
Short-term interest rate | 3.10% |
Canada | |
Disclosure of sensitivity analysis for actuarial assumptions [abstract] | |
GDP growth rate, 5-year average | 2.90% |
Unemployment rate, 5-year average | 6.80% |
House price growth, 5-year average | 2.70% |
Short term interest rate, 5-year average | 0.80% |
Probability | 70.00% |
Canada | Reporting year | |
Disclosure of sensitivity analysis for actuarial assumptions [abstract] | |
GDP growth rate | (6.10%) |
Unemployment rate | 9.60% |
House price growth | 5.70% |
Short-term interest rate | 0.80% |
Canada | Not later than one year | |
Disclosure of sensitivity analysis for actuarial assumptions [abstract] | |
GDP growth rate | 5.00% |
Unemployment rate | 7.90% |
House price growth | 2.10% |
Short-term interest rate | 0.50% |
Canada | One to two years | |
Disclosure of sensitivity analysis for actuarial assumptions [abstract] | |
GDP growth rate | 3.10% |
Unemployment rate | 6.80% |
House price growth | 2.00% |
Short-term interest rate | 0.60% |
Canada | Two to three years | |
Disclosure of sensitivity analysis for actuarial assumptions [abstract] | |
GDP growth rate | 2.40% |
Unemployment rate | 6.50% |
House price growth | 3.10% |
Short-term interest rate | 0.80% |
– France | |
Disclosure of sensitivity analysis for actuarial assumptions [abstract] | |
GDP growth rate, 5-year average | 2.90% |
Unemployment rate, 5-year average | 9.00% |
House price growth, 5-year average | 2.80% |
Short term interest rate, 5-year average | (0.50%) |
Probability | 40.00% |
– France | Reporting year | |
Disclosure of sensitivity analysis for actuarial assumptions [abstract] | |
GDP growth rate | (9.70%) |
Unemployment rate | 7.90% |
House price growth | 4.40% |
Short-term interest rate | (0.40%) |
– France | Not later than one year | |
Disclosure of sensitivity analysis for actuarial assumptions [abstract] | |
GDP growth rate | 5.90% |
Unemployment rate | 10.00% |
House price growth | (0.50%) |
Short-term interest rate | (0.50%) |
– France | One to two years | |
Disclosure of sensitivity analysis for actuarial assumptions [abstract] | |
GDP growth rate | 2.90% |
Unemployment rate | 9.10% |
House price growth | 4.10% |
Short-term interest rate | (0.50%) |
– France | Two to three years | |
Disclosure of sensitivity analysis for actuarial assumptions [abstract] | |
GDP growth rate | 2.20% |
Unemployment rate | 8.80% |
House price growth | 4.10% |
Short-term interest rate | (0.50%) |
UAE | |
Disclosure of sensitivity analysis for actuarial assumptions [abstract] | |
GDP growth rate, 5-year average | 3.40% |
Unemployment rate, 5-year average | 2.70% |
House price growth, 5-year average | 0.00% |
Short term interest rate, 5-year average | 1.00% |
Probability | 65.00% |
UAE | Reporting year | |
Disclosure of sensitivity analysis for actuarial assumptions [abstract] | |
GDP growth rate | (6.30%) |
Unemployment rate | 3.10% |
House price growth | (11.60%) |
Short-term interest rate | 1.00% |
UAE | Not later than one year | |
Disclosure of sensitivity analysis for actuarial assumptions [abstract] | |
GDP growth rate | 3.00% |
Unemployment rate | 2.70% |
House price growth | (9.80%) |
Short-term interest rate | 0.80% |
UAE | One to two years | |
Disclosure of sensitivity analysis for actuarial assumptions [abstract] | |
GDP growth rate | 3.60% |
Unemployment rate | 2.60% |
House price growth | (1.30%) |
Short-term interest rate | 0.80% |
UAE | Two to three years | |
Disclosure of sensitivity analysis for actuarial assumptions [abstract] | |
GDP growth rate | 3.90% |
Unemployment rate | 2.70% |
House price growth | 2.60% |
Short-term interest rate | 0.90% |
Mexico | |
Disclosure of sensitivity analysis for actuarial assumptions [abstract] | |
GDP growth rate, 5-year average | 2.60% |
Unemployment rate, 5-year average | 4.60% |
House price growth, 5-year average | 4.20% |
Short term interest rate, 5-year average | 5.20% |
Probability | 65.00% |
Mexico | Reporting year | |
Disclosure of sensitivity analysis for actuarial assumptions [abstract] | |
GDP growth rate | (9.70%) |
Unemployment rate | 5.40% |
House price growth | 5.50% |
Short-term interest rate | 5.70% |
Mexico | Not later than one year | |
Disclosure of sensitivity analysis for actuarial assumptions [abstract] | |
GDP growth rate | 3.70% |
Unemployment rate | 5.30% |
House price growth | 3.40% |
Short-term interest rate | 4.50% |
Mexico | One to two years | |
Disclosure of sensitivity analysis for actuarial assumptions [abstract] | |
GDP growth rate | 2.50% |
Unemployment rate | 4.70% |
House price growth | 5.00% |
Short-term interest rate | 4.70% |
Mexico | Two to three years | |
Disclosure of sensitivity analysis for actuarial assumptions [abstract] | |
GDP growth rate | 2.40% |
Unemployment rate | 4.50% |
House price growth | 4.60% |
Short-term interest rate | 5.20% |
Report Of The Directors Fina_10
Report Of The Directors Financial Review Risk Report - Consensus upside and downside scenarios (Details) | 12 Months Ended |
Dec. 31, 2020party | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Faster recovery in economic activity when compared with consensus Central scenario | 2 years |
Number of parties | 2 |
Upside scenario ECL | – UK | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Probability | 0.05% |
Upside scenario ECL | – UK | Not later than one year | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
GDP growth rate | 19.90% |
Upside scenario ECL | – UK | Due over 1 year but not more than 2 years | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Unemployment rate | 3.70% |
House price growth | 6.90% |
Short-term interest rate | 0.10% |
Upside scenario ECL | – US | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Probability | 0.05% |
Upside scenario ECL | – US | Not later than one year | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
GDP growth rate | 11.80% |
Short-term interest rate | 0.40% |
Upside scenario ECL | – US | Due over 1 year but not more than 2 years | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Unemployment rate | 3.90% |
House price growth | 6.40% |
Upside scenario ECL | – Hong Kong | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Probability | 0.05% |
Upside scenario ECL | – Hong Kong | Not later than one year | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
GDP growth rate | 13.80% |
Short-term interest rate | 1.10% |
Upside scenario ECL | – Hong Kong | Due over 1 year but not more than 2 years | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Unemployment rate | 3.00% |
House price growth | 4.90% |
Upside scenario ECL | Mainland China | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Probability | 0.10% |
Upside scenario ECL | Mainland China | Not later than one year | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
GDP growth rate | 20.50% |
Unemployment rate | 3.90% |
Short-term interest rate | 3.00% |
Upside scenario ECL | Mainland China | Due over 1 year but not more than 2 years | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
House price growth | 12.20% |
Upside scenario ECL | Canada | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Probability | 0.10% |
Upside scenario ECL | Canada | Not later than one year | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
GDP growth rate | 15.80% |
House price growth | 5.20% |
Short-term interest rate | 0.60% |
Upside scenario ECL | Canada | Due over 1 year but not more than 2 years | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Unemployment rate | 5.30% |
Upside scenario ECL | – France | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Probability | 0.05% |
Upside scenario ECL | – France | Not later than one year | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
GDP growth rate | 19.50% |
Short-term interest rate | (0.40%) |
Upside scenario ECL | – France | Due over 1 year but not more than 2 years | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Unemployment rate | 7.90% |
House price growth | 5.70% |
Upside scenario ECL | UAE | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Probability | 0.05% |
Upside scenario ECL | UAE | Not later than one year | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
GDP growth rate | 13.80% |
Unemployment rate | 2.20% |
Short-term interest rate | 0.90% |
Upside scenario ECL | UAE | Due over 1 year but not more than 2 years | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
House price growth | 18.50% |
Upside scenario ECL | Mexico | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Probability | 0.05% |
Upside scenario ECL | Mexico | Not later than one year | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
GDP growth rate | 16.80% |
Short-term interest rate | 5.00% |
Upside scenario ECL | Mexico | Due over 1 year but not more than 2 years | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Unemployment rate | 3.60% |
House price growth | 8.20% |
Downside scenario | – Hong Kong | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Probability | 25.00% |
Downside scenario | Mainland China | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Probability | 10.00% |
Downside scenario , worst outcome | – UK | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Probability | 40.00% |
Downside scenario , worst outcome | – UK | Not later than one year | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
GDP growth rate | (7.60%) |
Unemployment rate | 9.40% |
House price growth | (10.80%) |
Short-term interest rate | 0.10% |
Downside scenario , worst outcome | – US | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Probability | 25.00% |
Downside scenario , worst outcome | – US | Not later than one year | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
GDP growth rate | (3.40%) |
Unemployment rate | 8.20% |
House price growth | 0.10% |
Downside scenario , worst outcome | – US | Due over 1 year but not more than 2 years | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Short-term interest rate | 0.30% |
Downside scenario , worst outcome | – Hong Kong | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Probability | 20.00% |
Downside scenario , worst outcome | – Hong Kong | Not later than one year | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
GDP growth rate | (2.10%) |
Unemployment rate | 6.40% |
House price growth | (6.80%) |
Downside scenario , worst outcome | – Hong Kong | Due over 1 year but not more than 2 years | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Short-term interest rate | 1.10% |
Downside scenario , worst outcome | Mainland China | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Probability | 8.00% |
Downside scenario , worst outcome | Mainland China | Not later than one year | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
GDP growth rate | (1.30%) |
House price growth | 0.30% |
Short-term interest rate | 2.80% |
Downside scenario , worst outcome | Mainland China | Due over 1 year but not more than 2 years | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Unemployment rate | 4.30% |
Downside scenario , worst outcome | Canada | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Probability | 10.00% |
Downside scenario , worst outcome | Canada | Not later than one year | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
GDP growth rate | (3.60%) |
Unemployment rate | 9.20% |
Short-term interest rate | 0.50% |
Downside scenario , worst outcome | Canada | Due over 1 year but not more than 2 years | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
House price growth | (1.30%) |
Downside scenario , worst outcome | – France | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Probability | 40.00% |
Downside scenario , worst outcome | – France | Not later than one year | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
GDP growth rate | (3.00%) |
Unemployment rate | 11.20% |
House price growth | (3.30%) |
Short-term interest rate | (0.50%) |
Downside scenario , worst outcome | UAE | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Probability | 25.00% |
Downside scenario , worst outcome | UAE | Not later than one year | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
GDP growth rate | (7.30%) |
Unemployment rate | 3.00% |
House price growth | (19.20%) |
Downside scenario , worst outcome | UAE | Due over 1 year but not more than 2 years | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Short-term interest rate | 0.80% |
Downside scenario , worst outcome | Mexico | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Probability | 25.00% |
Downside scenario , worst outcome | Mexico | Not later than one year | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
GDP growth rate | (8.00%) |
Unemployment rate | 6.20% |
House price growth | 1.00% |
Short-term interest rate | 3.80% |
Additional Downside scenario | – UK | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Probability | 15.00% |
Additional Downside scenario | – UK | Not later than one year | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
GDP growth rate | (10.10%) |
Unemployment rate | 9.80% |
House price growth | (14.50%) |
Short-term interest rate | 0.80% |
Additional Downside scenario | – US | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Probability | 5.00% |
Additional Downside scenario | – US | Not later than one year | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
GDP growth rate | (4.20%) |
House price growth | (9.30%) |
Short-term interest rate | 1.10% |
Additional Downside scenario | – US | Due over 1 year but not more than 2 years | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Unemployment rate | 11.40% |
Additional Downside scenario | – Hong Kong | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Probability | 5.00% |
Additional Downside scenario | – Hong Kong | Not later than one year | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
GDP growth rate | (8.30%) |
Unemployment rate | 6.70% |
House price growth | (21.00%) |
Short-term interest rate | 1.30% |
Additional Downside scenario | Mainland China | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Probability | 2.00% |
Additional Downside scenario | Mainland China | Not later than one year | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
GDP growth rate | (9.50%) |
House price growth | (19.40%) |
Short-term interest rate | 4.00% |
Additional Downside scenario | Mainland China | Due over 1 year but not more than 2 years | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Unemployment rate | 6.10% |
Additional Downside scenario | Canada | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Probability | 10.00% |
Additional Downside scenario | Canada | Not later than one year | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
GDP growth rate | (5.00%) |
Unemployment rate | 11.30% |
House price growth | (10.40%) |
Short-term interest rate | 0.40% |
Additional Downside scenario | – France | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Probability | 15.00% |
Additional Downside scenario | – France | Not later than one year | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
GDP growth rate | (6.70%) |
Unemployment rate | 12.30% |
House price growth | (7.10%) |
Short-term interest rate | 0.20% |
Additional Downside scenario | UAE | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Probability | 5.00% |
Additional Downside scenario | UAE | Not later than one year | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
GDP growth rate | (12.20%) |
Unemployment rate | 3.90% |
House price growth | (22.90%) |
Short-term interest rate | 0.50% |
Additional Downside scenario | Mexico | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Probability | 5.00% |
Additional Downside scenario | Mexico | Not later than one year | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
GDP growth rate | (10.90%) |
Unemployment rate | 6.90% |
House price growth | (2.70%) |
Short-term interest rate | 6.70% |
Report Of The Directors Fina_11
Report Of The Directors Financial Review Risk Report - Probability assessments commentary (Details) | 12 Months Ended |
Dec. 31, 2020economic_scenarioeconomymarket | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Number of economic scenarios | economic_scenario | 4 |
Number of markets with elevated uncertainty | market | 2 |
Number of markets with lower level of uncertainty | market | 4 |
North America | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Number of economies | economy | 3 |
Central scenario ECL | Mainland China | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Probability | 80.00% |
Central scenario ECL | – Hong Kong | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Probability | 70.00% |
Central scenario ECL | – France | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Probability | 40.00% |
Central scenario ECL | – UK | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Probability | 40.00% |
Central scenario ECL | US, Canada, Mexico and UAE | Bottom of range | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Probability | 65.00% |
Central scenario ECL | US, Canada, Mexico and UAE | Top of range | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Probability | 70.00% |
Downside scenario | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Number of economic scenarios | economic_scenario | 2 |
Downside scenario | Mainland China | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Probability | 10.00% |
Downside scenario | – Hong Kong | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Probability | 25.00% |
Downside scenario | US, Canada, Mexico and UAE | Bottom of range | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Probability | 20.00% |
Downside scenario | US, Canada, Mexico and UAE | Top of range | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Probability | 30.00% |
Downside scenario , worst outcome | Mainland China | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Probability | 8.00% |
Downside scenario , worst outcome | – Hong Kong | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Probability | 20.00% |
Downside scenario , worst outcome | – France | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Probability | 40.00% |
Downside scenario , worst outcome | – UK | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Probability | 40.00% |
Additional Downside scenario | Mainland China | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Probability | 2.00% |
Additional Downside scenario | – Hong Kong | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Probability | 5.00% |
Additional Downside scenario | – France | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Probability | 15.00% |
Additional Downside scenario | – UK | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Probability | 15.00% |
Report Of The Directors Fina_12
Report Of The Directors Financial Review Risk Report - Management judgemental adjustments to ECL (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of financial assets [line items] | ||
ECL estimates, % weight assigned | 100.00% | |
Allowance for ECL | ||
Disclosure of financial assets [line items] | ||
Increase (decrease) in financial assets | $ 1,300 | |
Allowance for ECL | Low-risk counterparties (banks, sovereigns and government entities) | ||
Disclosure of financial assets [line items] | ||
Increase (decrease) in financial assets | (700) | |
Allowance for ECL | Corporate lending adjustments | ||
Disclosure of financial assets [line items] | ||
Increase (decrease) in financial assets | 500 | |
Allowance for ECL | Retail lending PD adjustments | ||
Disclosure of financial assets [line items] | ||
Increase (decrease) in financial assets | (800) | |
Allowance for ECL | Retail model default suppression adjustment | ||
Disclosure of financial assets [line items] | ||
Increase (decrease) in financial assets | 1,900 | |
Allowance for ECL | Other retail lending adjustments | ||
Disclosure of financial assets [line items] | ||
Increase (decrease) in financial assets | 400 | |
Allowance for ECL | Retail | ||
Disclosure of financial assets [line items] | ||
Increase (decrease) in financial assets | 1,500 | $ 131 |
Allowance for ECL | Retail | Retail lending PD adjustments | ||
Disclosure of financial assets [line items] | ||
Increase (decrease) in financial assets | (800) | |
Allowance for ECL | Retail | Retail model default suppression adjustment | ||
Disclosure of financial assets [line items] | ||
Increase (decrease) in financial assets | 1,900 | |
Allowance for ECL | Retail | Other retail lending adjustments | ||
Disclosure of financial assets [line items] | ||
Increase (decrease) in financial assets | 400 | |
Allowance for ECL | Wholesale | ||
Disclosure of financial assets [line items] | ||
Increase (decrease) in financial assets | (200) | $ 75 |
Allowance for ECL | Wholesale | Low-risk counterparties (banks, sovereigns and government entities) | ||
Disclosure of financial assets [line items] | ||
Increase (decrease) in financial assets | (700) | |
Allowance for ECL | Wholesale | Corporate lending adjustments | ||
Disclosure of financial assets [line items] | ||
Increase (decrease) in financial assets | $ 500 |
Report Of The Directors Fina_13
Report Of The Directors Financial Review Risk Report - IFRS 9 ECL sensitivity to future economic conditions (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of financial assets [line items] | ||
Financial assets | $ (2,880,751) | $ (2,621,427) |
Allowance for ECL | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | 4,500 | 2,000 |
Allowance for ECL | Retail | ||
Disclosure of financial assets [line items] | ||
Financial assets | 4,500 | 2,900 |
– UK | Gross carrying/nominal amount | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | (430,555) | (346,035) |
– UK | Gross carrying/nominal amount | Retail | Mortgages | ||
Disclosure of financial assets [line items] | ||
Financial assets | (146,478) | (130,079) |
– UK | Gross carrying/nominal amount | Retail | Credit cards | ||
Disclosure of financial assets [line items] | ||
Financial assets | (7,869) | (9,359) |
– UK | Gross carrying/nominal amount | Retail | Other | ||
Disclosure of financial assets [line items] | ||
Financial assets | (9,164) | (10,137) |
– UK | Allowance for ECL | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | 2,077 | 725 |
– UK | Allowance for ECL | Retail | Mortgages | ||
Disclosure of financial assets [line items] | ||
Financial assets | 197 | 123 |
– UK | Allowance for ECL | Retail | Credit cards | ||
Disclosure of financial assets [line items] | ||
Financial assets | 857 | 431 |
– UK | Allowance for ECL | Retail | Other | ||
Disclosure of financial assets [line items] | ||
Financial assets | 897 | 382 |
– US | Gross carrying/nominal amount | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | (201,263) | (203,610) |
– US | Gross carrying/nominal amount | Retail | Mortgages | ||
Disclosure of financial assets [line items] | ||
Financial assets | (15,399) | (14,732) |
– US | Gross carrying/nominal amount | Retail | Credit cards | ||
Disclosure of financial assets [line items] | ||
Financial assets | (570) | (738) |
– US | Allowance for ECL | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | 369 | 148 |
– US | Allowance for ECL | Retail | Mortgages | ||
Disclosure of financial assets [line items] | ||
Financial assets | 41 | 22 |
– US | Allowance for ECL | Retail | Credit cards | ||
Disclosure of financial assets [line items] | ||
Financial assets | 86 | 68 |
– Hong Kong | Gross carrying/nominal amount | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | (452,983) | (418,102) |
– Hong Kong | Gross carrying/nominal amount | Retail | Mortgages | ||
Disclosure of financial assets [line items] | ||
Financial assets | (89,943) | (86,448) |
– Hong Kong | Gross carrying/nominal amount | Retail | Credit cards | ||
Disclosure of financial assets [line items] | ||
Financial assets | (7,422) | (7,795) |
– Hong Kong | Gross carrying/nominal amount | Retail | Other | ||
Disclosure of financial assets [line items] | ||
Financial assets | (6,020) | (7,446) |
– Hong Kong | Allowance for ECL | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | 474 | 328 |
– Hong Kong | Allowance for ECL | Retail | Mortgages | ||
Disclosure of financial assets [line items] | ||
Financial assets | 0 | 0 |
– Hong Kong | Allowance for ECL | Retail | Credit cards | ||
Disclosure of financial assets [line items] | ||
Financial assets | 266 | 243 |
– Hong Kong | Allowance for ECL | Retail | Other | ||
Disclosure of financial assets [line items] | ||
Financial assets | 112 | 105 |
Mainland China | Gross carrying/nominal amount | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | (118,163) | (104,004) |
Mainland China | Allowance for ECL | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | 116 | 124 |
Canada | Gross carrying/nominal amount | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | (85,720) | (74,620) |
Canada | Gross carrying/nominal amount | Retail | Mortgages | ||
Disclosure of financial assets [line items] | ||
Financial assets | (22,454) | (19,843) |
Canada | Gross carrying/nominal amount | Retail | Credit cards | ||
Disclosure of financial assets [line items] | ||
Financial assets | (260) | (270) |
Canada | Gross carrying/nominal amount | Retail | Other | ||
Disclosure of financial assets [line items] | ||
Financial assets | (1,775) | (2,231) |
Canada | Allowance for ECL | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | 183 | 80 |
Canada | Allowance for ECL | Retail | Mortgages | ||
Disclosure of financial assets [line items] | ||
Financial assets | 31 | 15 |
Canada | Allowance for ECL | Retail | Credit cards | ||
Disclosure of financial assets [line items] | ||
Financial assets | 9 | 7 |
Canada | Allowance for ECL | Retail | Other | ||
Disclosure of financial assets [line items] | ||
Financial assets | 22 | 17 |
Mexico | Gross carrying/nominal amount | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | (25,920) | (32,632) |
Mexico | Gross carrying/nominal amount | Retail | Mortgages | ||
Disclosure of financial assets [line items] | ||
Financial assets | (3,896) | (3,385) |
Mexico | Gross carrying/nominal amount | Retail | Credit cards | ||
Disclosure of financial assets [line items] | ||
Financial assets | (1,113) | (1,295) |
Mexico | Gross carrying/nominal amount | Retail | Other | ||
Disclosure of financial assets [line items] | ||
Financial assets | (2,549) | (3,001) |
Mexico | Allowance for ECL | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | 246 | 69 |
Mexico | Allowance for ECL | Retail | Mortgages | ||
Disclosure of financial assets [line items] | ||
Financial assets | 111 | 32 |
Mexico | Allowance for ECL | Retail | Credit cards | ||
Disclosure of financial assets [line items] | ||
Financial assets | 260 | 211 |
Mexico | Allowance for ECL | Retail | Other | ||
Disclosure of financial assets [line items] | ||
Financial assets | 436 | 341 |
UAE | Gross carrying/nominal amount | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | (44,777) | (42,304) |
UAE | Gross carrying/nominal amount | Retail | Mortgages | ||
Disclosure of financial assets [line items] | ||
Financial assets | (1,889) | (1,983) |
UAE | Gross carrying/nominal amount | Retail | Credit cards | ||
Disclosure of financial assets [line items] | ||
Financial assets | (426) | (513) |
UAE | Gross carrying/nominal amount | Retail | Other | ||
Disclosure of financial assets [line items] | ||
Financial assets | (683) | (895) |
UAE | Allowance for ECL | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | 250 | 97 |
UAE | Allowance for ECL | Retail | Mortgages | ||
Disclosure of financial assets [line items] | ||
Financial assets | 66 | 92 |
UAE | Allowance for ECL | Retail | Credit cards | ||
Disclosure of financial assets [line items] | ||
Financial assets | 92 | 54 |
UAE | Allowance for ECL | Retail | Other | ||
Disclosure of financial assets [line items] | ||
Financial assets | 38 | 28 |
– France | Gross carrying/nominal amount | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | (164,899) | (124,618) |
– France | Gross carrying/nominal amount | Retail | Mortgages | ||
Disclosure of financial assets [line items] | ||
Financial assets | (24,565) | (21,374) |
– France | Gross carrying/nominal amount | Retail | Other | ||
Disclosure of financial assets [line items] | ||
Financial assets | (1,725) | (1,643) |
– France | Allowance for ECL | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | 117 | 55 |
– France | Allowance for ECL | Retail | Mortgages | ||
Disclosure of financial assets [line items] | ||
Financial assets | 68 | 60 |
– France | Allowance for ECL | Retail | Other | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 88 | 73 |
Central scenario ECL | – UK | ||
Disclosure of financial assets [line items] | ||
Probability | 40.00% | |
Central scenario ECL | – UK | Allowance for ECL | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 1,514 | 536 |
Central scenario ECL | – UK | Allowance for ECL | Retail | Mortgages | ||
Disclosure of financial assets [line items] | ||
Financial assets | 182 | 33 |
Central scenario ECL | – UK | Allowance for ECL | Retail | Credit cards | ||
Disclosure of financial assets [line items] | ||
Financial assets | 774 | 421 |
Central scenario ECL | – UK | Allowance for ECL | Retail | Other | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 795 | 318 |
Central scenario ECL | – US | ||
Disclosure of financial assets [line items] | ||
Probability | 65.00% | |
Central scenario ECL | – US | Allowance for ECL | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 314 | 149 |
Central scenario ECL | – US | Allowance for ECL | Retail | Mortgages | ||
Disclosure of financial assets [line items] | ||
Financial assets | 39 | 22 |
Central scenario ECL | – US | Allowance for ECL | Retail | Credit cards | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 84 | 68 |
Central scenario ECL | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Probability | 70.00% | |
Central scenario ECL | – Hong Kong | Allowance for ECL | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 388 | 243 |
Central scenario ECL | – Hong Kong | Allowance for ECL | Retail | Mortgages | ||
Disclosure of financial assets [line items] | ||
Financial assets | 0 | 0 |
Central scenario ECL | – Hong Kong | Allowance for ECL | Retail | Credit cards | ||
Disclosure of financial assets [line items] | ||
Financial assets | 259 | 201 |
Central scenario ECL | – Hong Kong | Allowance for ECL | Retail | Other | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 105 | 95 |
Central scenario ECL | Mainland China | ||
Disclosure of financial assets [line items] | ||
Probability | 80.00% | |
Central scenario ECL | Mainland China | Allowance for ECL | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 93 | 118 |
Central scenario ECL | Canada | ||
Disclosure of financial assets [line items] | ||
Probability | 70.00% | |
Central scenario ECL | Canada | Allowance for ECL | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 140 | 79 |
Central scenario ECL | Canada | Allowance for ECL | Retail | Mortgages | ||
Disclosure of financial assets [line items] | ||
Financial assets | 30 | 14 |
Central scenario ECL | Canada | Allowance for ECL | Retail | Credit cards | ||
Disclosure of financial assets [line items] | ||
Financial assets | 9 | 7 |
Central scenario ECL | Canada | Allowance for ECL | Retail | Other | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 21 | 17 |
Central scenario ECL | Mexico | ||
Disclosure of financial assets [line items] | ||
Probability | 65.00% | |
Central scenario ECL | Mexico | Allowance for ECL | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 222 | 68 |
Central scenario ECL | Mexico | Allowance for ECL | Retail | Mortgages | ||
Disclosure of financial assets [line items] | ||
Financial assets | 101 | 31 |
Central scenario ECL | Mexico | Allowance for ECL | Retail | Credit cards | ||
Disclosure of financial assets [line items] | ||
Financial assets | 255 | 211 |
Central scenario ECL | Mexico | Allowance for ECL | Retail | Other | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 428 | 340 |
Central scenario ECL | UAE | ||
Disclosure of financial assets [line items] | ||
Probability | 65.00% | |
Central scenario ECL | UAE | Allowance for ECL | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 241 | 97 |
Central scenario ECL | UAE | Allowance for ECL | Retail | Mortgages | ||
Disclosure of financial assets [line items] | ||
Financial assets | 63 | 92 |
Central scenario ECL | UAE | Allowance for ECL | Retail | Credit cards | ||
Disclosure of financial assets [line items] | ||
Financial assets | 81 | 54 |
Central scenario ECL | UAE | Allowance for ECL | Retail | Other | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 37 | 28 |
Central scenario ECL | – France | ||
Disclosure of financial assets [line items] | ||
Probability | 40.00% | |
Central scenario ECL | – France | Allowance for ECL | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 109 | 53 |
Central scenario ECL | – France | Allowance for ECL | Retail | Mortgages | ||
Disclosure of financial assets [line items] | ||
Financial assets | 68 | 60 |
Central scenario ECL | – France | Allowance for ECL | Retail | Other | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 87 | 73 |
Upside scenario ECL | – UK | ||
Disclosure of financial assets [line items] | ||
Probability | 0.05% | |
Upside scenario ECL | – UK | Allowance for ECL | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 1,026 | 480 |
Upside scenario ECL | – UK | Allowance for ECL | Retail | Mortgages | ||
Disclosure of financial assets [line items] | ||
Financial assets | 172 | 28 |
Upside scenario ECL | – UK | Allowance for ECL | Retail | Credit cards | ||
Disclosure of financial assets [line items] | ||
Financial assets | 589 | 376 |
Upside scenario ECL | – UK | Allowance for ECL | Retail | Other | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 471 | 282 |
Upside scenario ECL | – US | ||
Disclosure of financial assets [line items] | ||
Probability | 0.05% | |
Upside scenario ECL | – US | Allowance for ECL | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 219 | 132 |
Upside scenario ECL | – US | Allowance for ECL | Retail | Mortgages | ||
Disclosure of financial assets [line items] | ||
Financial assets | 38 | 21 |
Upside scenario ECL | – US | Allowance for ECL | Retail | Credit cards | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 81 | 62 |
Upside scenario ECL | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Probability | 0.05% | |
Upside scenario ECL | – Hong Kong | Allowance for ECL | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 211 | 241 |
Upside scenario ECL | – Hong Kong | Allowance for ECL | Retail | Mortgages | ||
Disclosure of financial assets [line items] | ||
Financial assets | 0 | 0 |
Upside scenario ECL | – Hong Kong | Allowance for ECL | Retail | Credit cards | ||
Disclosure of financial assets [line items] | ||
Financial assets | 247 | 191 |
Upside scenario ECL | – Hong Kong | Allowance for ECL | Retail | Other | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 102 | 90 |
Upside scenario ECL | Mainland China | ||
Disclosure of financial assets [line items] | ||
Probability | 0.10% | |
Upside scenario ECL | Mainland China | Allowance for ECL | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 28 | 95 |
Upside scenario ECL | Canada | ||
Disclosure of financial assets [line items] | ||
Probability | 0.10% | |
Upside scenario ECL | Canada | Allowance for ECL | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 82 | 63 |
Upside scenario ECL | Canada | Allowance for ECL | Retail | Mortgages | ||
Disclosure of financial assets [line items] | ||
Financial assets | 29 | 13 |
Upside scenario ECL | Canada | Allowance for ECL | Retail | Credit cards | ||
Disclosure of financial assets [line items] | ||
Financial assets | 8 | 7 |
Upside scenario ECL | Canada | Allowance for ECL | Retail | Other | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 20 | 16 |
Upside scenario ECL | Mexico | ||
Disclosure of financial assets [line items] | ||
Probability | 0.05% | |
Upside scenario ECL | Mexico | Allowance for ECL | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 177 | 48 |
Upside scenario ECL | Mexico | Allowance for ECL | Retail | Mortgages | ||
Disclosure of financial assets [line items] | ||
Financial assets | 79 | 24 |
Upside scenario ECL | Mexico | Allowance for ECL | Retail | Credit cards | ||
Disclosure of financial assets [line items] | ||
Financial assets | 243 | 190 |
Upside scenario ECL | Mexico | Allowance for ECL | Retail | Other | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 411 | 312 |
Upside scenario ECL | UAE | ||
Disclosure of financial assets [line items] | ||
Probability | 0.05% | |
Upside scenario ECL | UAE | Allowance for ECL | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 190 | 89 |
Upside scenario ECL | UAE | Allowance for ECL | Retail | Mortgages | ||
Disclosure of financial assets [line items] | ||
Financial assets | 53 | 83 |
Upside scenario ECL | UAE | Allowance for ECL | Retail | Credit cards | ||
Disclosure of financial assets [line items] | ||
Financial assets | 62 | 49 |
Upside scenario ECL | UAE | Allowance for ECL | Retail | Other | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 33 | 26 |
Upside scenario ECL | – France | ||
Disclosure of financial assets [line items] | ||
Probability | 0.05% | |
Upside scenario ECL | – France | Allowance for ECL | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 97 | 50 |
Upside scenario ECL | – France | Allowance for ECL | Retail | Mortgages | ||
Disclosure of financial assets [line items] | ||
Financial assets | 68 | 59 |
Upside scenario ECL | – France | Allowance for ECL | Retail | Other | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 85 | 73 |
Downside scenario | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Probability | 25.00% | |
Downside scenario | Mainland China | ||
Disclosure of financial assets [line items] | ||
Probability | 10.00% | |
Downside scenario , worst outcome | – UK | ||
Disclosure of financial assets [line items] | ||
Probability | 40.00% | |
Downside scenario , worst outcome | – UK | Allowance for ECL | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 2,271 | 635 |
Downside scenario , worst outcome | – UK | Allowance for ECL | Retail | Mortgages | ||
Disclosure of financial assets [line items] | ||
Financial assets | 205 | 38 |
Downside scenario , worst outcome | – UK | Allowance for ECL | Retail | Credit cards | ||
Disclosure of financial assets [line items] | ||
Financial assets | 904 | 506 |
Downside scenario , worst outcome | – UK | Allowance for ECL | Retail | Other | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 1,022 | 374 |
Downside scenario , worst outcome | – US | ||
Disclosure of financial assets [line items] | ||
Probability | 25.00% | |
Downside scenario , worst outcome | – US | Allowance for ECL | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 472 | 161 |
Downside scenario , worst outcome | – US | Allowance for ECL | Retail | Mortgages | ||
Disclosure of financial assets [line items] | ||
Financial assets | 41 | 24 |
Downside scenario , worst outcome | – US | Allowance for ECL | Retail | Credit cards | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 88 | 74 |
Downside scenario , worst outcome | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Probability | 20.00% | |
Downside scenario , worst outcome | – Hong Kong | Allowance for ECL | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 672 | 244 |
Downside scenario , worst outcome | – Hong Kong | Allowance for ECL | Retail | Mortgages | ||
Disclosure of financial assets [line items] | ||
Financial assets | 0 | 0 |
Downside scenario , worst outcome | – Hong Kong | Allowance for ECL | Retail | Credit cards | ||
Disclosure of financial assets [line items] | ||
Financial assets | 277 | 201 |
Downside scenario , worst outcome | – Hong Kong | Allowance for ECL | Retail | Other | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 115 | 104 |
Downside scenario , worst outcome | Mainland China | ||
Disclosure of financial assets [line items] | ||
Probability | 8.00% | |
Downside scenario , worst outcome | Mainland China | Allowance for ECL | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 252 | 106 |
Downside scenario , worst outcome | Canada | ||
Disclosure of financial assets [line items] | ||
Probability | 10.00% | |
Downside scenario , worst outcome | Canada | Allowance for ECL | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 253 | 108 |
Downside scenario , worst outcome | Canada | Allowance for ECL | Retail | Mortgages | ||
Disclosure of financial assets [line items] | ||
Financial assets | 31 | 16 |
Downside scenario , worst outcome | Canada | Allowance for ECL | Retail | Credit cards | ||
Disclosure of financial assets [line items] | ||
Financial assets | 9 | 7 |
Downside scenario , worst outcome | Canada | Allowance for ECL | Retail | Other | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 24 | 18 |
Downside scenario , worst outcome | Mexico | ||
Disclosure of financial assets [line items] | ||
Probability | 25.00% | |
Downside scenario , worst outcome | Mexico | Allowance for ECL | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 285 | 99 |
Downside scenario , worst outcome | Mexico | Allowance for ECL | Retail | Mortgages | ||
Disclosure of financial assets [line items] | ||
Financial assets | 136 | 41 |
Downside scenario , worst outcome | Mexico | Allowance for ECL | Retail | Credit cards | ||
Disclosure of financial assets [line items] | ||
Financial assets | 269 | 231 |
Downside scenario , worst outcome | Mexico | Allowance for ECL | Retail | Other | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 451 | 380 |
Downside scenario , worst outcome | UAE | ||
Disclosure of financial assets [line items] | ||
Probability | 25.00% | |
Downside scenario , worst outcome | UAE | Allowance for ECL | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 330 | 108 |
Downside scenario , worst outcome | UAE | Allowance for ECL | Retail | Mortgages | ||
Disclosure of financial assets [line items] | ||
Financial assets | 73 | 91 |
Downside scenario , worst outcome | UAE | Allowance for ECL | Retail | Credit cards | ||
Disclosure of financial assets [line items] | ||
Financial assets | 107 | 72 |
Downside scenario , worst outcome | UAE | Allowance for ECL | Retail | Other | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 41 | 31 |
Downside scenario , worst outcome | – France | ||
Disclosure of financial assets [line items] | ||
Probability | 40.00% | |
Downside scenario , worst outcome | – France | Allowance for ECL | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 131 | 79 |
Downside scenario , worst outcome | – France | Allowance for ECL | Retail | Mortgages | ||
Disclosure of financial assets [line items] | ||
Financial assets | 69 | 60 |
Downside scenario , worst outcome | – France | Allowance for ECL | Retail | Other | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 88 | 74 |
Additional Downside scenario | – UK | ||
Disclosure of financial assets [line items] | ||
Probability | 15.00% | |
Additional Downside scenario | – UK | Allowance for ECL | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 3,869 | |
Additional Downside scenario | – UK | Allowance for ECL | Retail | Mortgages | ||
Disclosure of financial assets [line items] | ||
Financial assets | 221 | |
Additional Downside scenario | – UK | Allowance for ECL | Retail | Credit cards | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,084 | |
Additional Downside scenario | – UK | Allowance for ECL | Retail | Other | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 1,165 | |
Additional Downside scenario | – US | ||
Disclosure of financial assets [line items] | ||
Probability | 5.00% | |
Additional Downside scenario | – US | Allowance for ECL | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 723 | |
Additional Downside scenario | – US | Allowance for ECL | Retail | Mortgages | ||
Disclosure of financial assets [line items] | ||
Financial assets | 53 | |
Additional Downside scenario | – US | Allowance for ECL | Retail | Credit cards | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 119 | |
Additional Downside scenario | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Probability | 5.00% | |
Additional Downside scenario | – Hong Kong | Allowance for ECL | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 1,363 | |
Additional Downside scenario | – Hong Kong | Allowance for ECL | Retail | Mortgages | ||
Disclosure of financial assets [line items] | ||
Financial assets | 0 | |
Additional Downside scenario | – Hong Kong | Allowance for ECL | Retail | Credit cards | ||
Disclosure of financial assets [line items] | ||
Financial assets | 405 | |
Additional Downside scenario | – Hong Kong | Allowance for ECL | Retail | Other | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 130 | |
Additional Downside scenario | Mainland China | ||
Disclosure of financial assets [line items] | ||
Probability | 2.00% | |
Additional Downside scenario | Mainland China | Allowance for ECL | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 1,158 | |
Additional Downside scenario | Canada | ||
Disclosure of financial assets [line items] | ||
Probability | 10.00% | |
Additional Downside scenario | Canada | Allowance for ECL | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 528 | |
Additional Downside scenario | Canada | Allowance for ECL | Retail | Mortgages | ||
Disclosure of financial assets [line items] | ||
Financial assets | 36 | |
Additional Downside scenario | Canada | Allowance for ECL | Retail | Credit cards | ||
Disclosure of financial assets [line items] | ||
Financial assets | 9 | |
Additional Downside scenario | Canada | Allowance for ECL | Retail | Other | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 28 | |
Additional Downside scenario | Mexico | ||
Disclosure of financial assets [line items] | ||
Probability | 5.00% | |
Additional Downside scenario | Mexico | Allowance for ECL | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 437 | |
Additional Downside scenario | Mexico | Allowance for ECL | Retail | Mortgages | ||
Disclosure of financial assets [line items] | ||
Financial assets | 167 | |
Additional Downside scenario | Mexico | Allowance for ECL | Retail | Credit cards | ||
Disclosure of financial assets [line items] | ||
Financial assets | 290 | |
Additional Downside scenario | Mexico | Allowance for ECL | Retail | Other | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 491 | |
Additional Downside scenario | UAE | ||
Disclosure of financial assets [line items] | ||
Probability | 5.00% | |
Additional Downside scenario | UAE | Allowance for ECL | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 536 | |
Additional Downside scenario | UAE | Allowance for ECL | Retail | Mortgages | ||
Disclosure of financial assets [line items] | ||
Financial assets | 78 | |
Additional Downside scenario | UAE | Allowance for ECL | Retail | Credit cards | ||
Disclosure of financial assets [line items] | ||
Financial assets | 126 | |
Additional Downside scenario | UAE | Allowance for ECL | Retail | Other | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 46 | |
Additional Downside scenario | – France | ||
Disclosure of financial assets [line items] | ||
Probability | 15.00% | |
Additional Downside scenario | – France | Allowance for ECL | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 238 | |
Additional Downside scenario | – France | Allowance for ECL | Retail | Mortgages | ||
Disclosure of financial assets [line items] | ||
Financial assets | 70 | |
Additional Downside scenario | – France | Allowance for ECL | Retail | Other | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 91 | |
Alternative scenario 1 | – UK | Allowance for ECL | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,050 | |
Alternative scenario 1 | – UK | Allowance for ECL | Retail | Mortgages | ||
Disclosure of financial assets [line items] | ||
Financial assets | 50 | |
Alternative scenario 1 | – UK | Allowance for ECL | Retail | Credit cards | ||
Disclosure of financial assets [line items] | ||
Financial assets | 670 | |
Alternative scenario 1 | – UK | Allowance for ECL | Retail | Other | ||
Disclosure of financial assets [line items] | ||
Financial assets | 490 | |
Alternative scenario 1 | – Hong Kong | Allowance for ECL | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | 550 | |
Alternative scenario 1 | – Hong Kong | Allowance for ECL | Retail | Mortgages | ||
Disclosure of financial assets [line items] | ||
Financial assets | 0 | |
Alternative scenario 1 | – Hong Kong | Allowance for ECL | Retail | Credit cards | ||
Disclosure of financial assets [line items] | ||
Financial assets | 400 | |
Alternative scenario 1 | – Hong Kong | Allowance for ECL | Retail | Other | ||
Disclosure of financial assets [line items] | ||
Financial assets | 130 | |
Alternative scenario 1 | Mainland China | Allowance for ECL | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | 150 | |
Alternative scenario 2 | – UK | Allowance for ECL | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,900 | |
Alternative scenario 2 | – UK | Allowance for ECL | Retail | Mortgages | ||
Disclosure of financial assets [line items] | ||
Financial assets | 80 | |
Alternative scenario 2 | – UK | Allowance for ECL | Retail | Credit cards | ||
Disclosure of financial assets [line items] | ||
Financial assets | 930 | |
Alternative scenario 2 | – UK | Allowance for ECL | Retail | Other | ||
Disclosure of financial assets [line items] | ||
Financial assets | 700 | |
Alternative scenario 2 | – Hong Kong | Allowance for ECL | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | 700 | |
Alternative scenario 3 | – UK | Allowance for ECL | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 2,100 |
Report Of The Directors Fina_14
Report Of The Directors Financial Review Risk Report - Group ECL sensitivity results (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of financial assets [line items] | ||
Financial assets | $ (2,880,751) | $ (2,621,427) |
Allowance for ECL | ||
Disclosure of financial assets [line items] | ||
Increase (decrease) in financial assets | 1,300 | |
Allowance for ECL | Retail | ||
Disclosure of financial assets [line items] | ||
Financial assets | 4,500 | 2,900 |
Increase (decrease) in financial assets | 1,500 | 131 |
Allowance for ECL | Wholesale | ||
Disclosure of financial assets [line items] | ||
Financial assets | 4,500 | 2,000 |
Increase (decrease) in financial assets | (200) | 75 |
Allowance for ECL | Wholesale | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 2,077 | $ 725 |
Central scenario ECL | – UK | ||
Disclosure of financial assets [line items] | ||
Probability | 40.00% | |
Central scenario ECL | Maximum | ||
Disclosure of financial assets [line items] | ||
Probability | 100.00% | 100.00% |
Central scenario ECL | Allowance for ECL | Retail | Maximum | ||
Disclosure of financial assets [line items] | ||
Increase (decrease) in financial assets | $ (300) | $ (200) |
Central scenario ECL | Allowance for ECL | Wholesale | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,514 | 536 |
Central scenario ECL | Allowance for ECL | Wholesale | Maximum | ||
Disclosure of financial assets [line items] | ||
Increase (decrease) in financial assets | $ (900) | $ (300) |
Downside scenario , worst outcome | – UK | ||
Disclosure of financial assets [line items] | ||
Probability | 40.00% | |
Downside scenario , worst outcome | Maximum | ||
Disclosure of financial assets [line items] | ||
Probability | 100.00% | 100.00% |
Downside scenario , worst outcome | Maximum | – UK | ||
Disclosure of financial assets [line items] | ||
Probability | 100.00% | |
Downside scenario , worst outcome | Allowance for ECL | Retail | Maximum | ||
Disclosure of financial assets [line items] | ||
Increase (decrease) in financial assets | $ 300 | $ 100 |
Downside scenario , worst outcome | Allowance for ECL | Retail | Maximum | – UK | ||
Disclosure of financial assets [line items] | ||
Increase (decrease) in financial assets | 200 | |
Downside scenario , worst outcome | Allowance for ECL | Wholesale | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets | 2,271 | 635 |
Downside scenario , worst outcome | Allowance for ECL | Wholesale | Maximum | ||
Disclosure of financial assets [line items] | ||
Increase (decrease) in financial assets | 1,000 | $ 0 |
Downside scenario , worst outcome | Allowance for ECL | Wholesale | Maximum | – UK | ||
Disclosure of financial assets [line items] | ||
Increase (decrease) in financial assets | $ 200 | |
Additional Downside scenario | – UK | ||
Disclosure of financial assets [line items] | ||
Probability | 15.00% | |
Additional Downside scenario | Maximum | ||
Disclosure of financial assets [line items] | ||
Probability | 100.00% | 100.00% |
Additional Downside scenario | Maximum | – UK | ||
Disclosure of financial assets [line items] | ||
Probability | 100.00% | |
Additional Downside scenario | Allowance for ECL | Retail | Maximum | ||
Disclosure of financial assets [line items] | ||
Increase (decrease) in financial assets | $ 1,300 | |
Additional Downside scenario | Allowance for ECL | Retail | Maximum | – UK | ||
Disclosure of financial assets [line items] | ||
Increase (decrease) in financial assets | 500 | |
Additional Downside scenario | Allowance for ECL | Wholesale | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets | 3,869 | |
Additional Downside scenario | Allowance for ECL | Wholesale | Maximum | ||
Disclosure of financial assets [line items] | ||
Increase (decrease) in financial assets | 5,900 | |
Additional Downside scenario | Allowance for ECL | Wholesale | Maximum | – UK | ||
Disclosure of financial assets [line items] | ||
Increase (decrease) in financial assets | $ 1,800 |
Report Of The Directors Fina_15
Report Of The Directors Financial Review Risk Report - Reconciliation of changes in gross carrying/nominal amount and allowances for loans and advances to banks and customers including loan commitments and financial guarantees (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | $ 2,621,427 | |
Financial assets, ending balance | 2,880,751 | $ 2,621,427 |
Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 85,735 | |
Financial assets, ending balance | 88,639 | 85,735 |
Debt securities | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 85,735 | |
Financial assets, ending balance | 88,639 | 85,735 |
Debt securities | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 75,259 | |
Financial assets, ending balance | 76,882 | 75,259 |
IFRS 9 | Financial assets measured at fair value through other comprehensive income, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 351,725 | |
Financial assets, ending balance | 391,762 | 351,725 |
IFRS 9 | Other | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 615,061 | |
Financial assets, ending balance | 772,233 | 615,061 |
IFRS 9 | – reverse repurchase agreements – non-trading | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 240,862 | |
Financial assets, ending balance | 230,628 | 240,862 |
IFRS 9 | Debt securities | Financial assets measured at fair value through other comprehensive income, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 351,725 | |
Financial assets, ending balance | 391,762 | 351,725 |
12-month expected credit losses | Non-credit impaired | IFRS 9 | Other | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 613,162 | |
Financial assets, ending balance | 768,136 | 613,162 |
12-month expected credit losses | Non-credit impaired | IFRS 9 | Debt securities | Financial assets measured at fair value through other comprehensive income, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 350,876 | |
Financial assets, ending balance | 390,105 | 350,876 |
Lifetime expected credit losses | Non-credit impaired | IFRS 9 | Other | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 1,789 | |
Financial assets, ending balance | 3,931 | 1,789 |
Lifetime expected credit losses | Non-credit impaired | IFRS 9 | Debt securities | Financial assets measured at fair value through other comprehensive income, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 848 | |
Financial assets, ending balance | 1,384 | 848 |
Lifetime expected credit losses | Credit impaired | IFRS 9 | Other | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 109 | |
Financial assets, ending balance | 135 | 109 |
Lifetime expected credit losses | Credit impaired | IFRS 9 | Debt securities | Financial assets measured at fair value through other comprehensive income, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 0 | |
Financial assets, ending balance | 234 | 0 |
Lifetime expected credit losses | POCI | IFRS 9 | Other | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 1 | |
Financial assets, ending balance | 31 | 1 |
Lifetime expected credit losses | POCI | IFRS 9 | Debt securities | Financial assets measured at fair value through other comprehensive income, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 1 | |
Financial assets, ending balance | 39 | 1 |
Gross carrying/nominal amount | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 2,350,116 | |
Financial assets, ending balance | 2,584,710 | 2,350,116 |
Gross carrying/nominal amount | Loans and advances to banks and customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 1,681,844 | 1,612,646 |
New financial assets originated or purchased | 437,861 | 504,199 |
Assets derecognised (including final repayments) | (354,209) | (375,608) |
Changes to risk parameters – further lending/repayment | (54,702) | (74,369) |
Assets written off | (2,976) | (2,797) |
Credit-related modifications that resulted in derecognition | (23) | (268) |
Foreign exchange | 42,568 | 18,200 |
Others | 223 | (159) |
Financial assets, ending balance | 1,750,586 | 1,681,844 |
Gross carrying/nominal amount | Other | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 615,179 | |
Financial assets, ending balance | 772,408 | 615,179 |
Gross carrying/nominal 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 | 399,717 | 355,664 |
Gross carrying/nominal amount | IFRS 9 | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 1,729,873 | |
Financial assets, ending balance | 1,906,543 | 1,729,873 |
Gross carrying/nominal amount | IFRS 9 | Financial assets measured at fair value through other comprehensive income, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 351,891 | |
Financial assets, ending balance | 391,903 | 351,891 |
Gross carrying/nominal amount | IFRS 9 | Financial instruments including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 2,350,116 | |
Financial assets, ending balance | 2,584,710 | 2,350,116 |
Gross carrying/nominal amount | IFRS 9 | Other | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 615,179 | |
Financial assets, ending balance | 772,408 | 615,179 |
Gross carrying/nominal amount | IFRS 9 | – reverse repurchase agreements – non-trading | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 53,093 | |
Financial assets, ending balance | 61,716 | 53,093 |
Gross carrying/nominal amount | IFRS 9 | – reverse repurchase agreements – non-trading | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 240,862 | |
Financial assets, ending balance | 230,628 | 240,862 |
Gross carrying/nominal amount | IFRS 9 | Debt securities | Financial assets measured at fair value through other comprehensive income, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 351,891 | |
Financial assets, ending balance | 391,903 | 351,891 |
Gross carrying/nominal amount | 12-month expected credit losses | Non-credit impaired | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 2,227,867 | |
Financial assets, ending balance | 2,336,365 | 2,227,867 |
Gross carrying/nominal amount | 12-month expected credit losses | Non-credit impaired | Loans and advances to banks and customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 1,561,613 | 1,502,976 |
Transfers of financial instruments: | (129,236) | (36,244) |
– transfers from stage 1 to stage 2 | (298,725) | (108,434) |
– transfers from stage 2 to stage 1 | 172,894 | 73,086 |
– transfers to stage 3 | (3,942) | (1,284) |
– transfers from stage 3 | 537 | 388 |
New financial assets originated or purchased | 437,836 | 504,064 |
Assets derecognised (including final repayments) | (313,347) | (352,961) |
Changes to risk parameters – further lending/repayment | (83,147) | (72,239) |
Foreign exchange | 32,808 | 16,838 |
Others | (76) | (821) |
Financial assets, ending balance | 1,506,451 | 1,561,613 |
Gross carrying/nominal amount | 12-month expected credit losses | Non-credit impaired | Other | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 613,200 | |
Financial assets, ending balance | 768,216 | 613,200 |
Gross carrying/nominal amount | 12-month expected credit losses | Non-credit impaired | IFRS 9 | Other | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 613,200 | |
Financial assets, ending balance | 768,216 | 613,200 |
Gross carrying/nominal amount | 12-month expected credit losses | Non-credit impaired | IFRS 9 | Debt securities | Financial assets measured at fair value through other comprehensive income, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 350,915 | |
Financial assets, ending balance | 390,193 | 350,915 |
Gross carrying/nominal amount | Lifetime expected credit losses | Non-credit impaired | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 107,417 | |
Financial assets, ending balance | 227,405 | 107,417 |
Gross carrying/nominal amount | Lifetime expected credit losses | Non-credit impaired | Loans and advances to banks and customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 105,551 | 95,104 |
Transfers of financial instruments: | 116,783 | 31,063 |
– transfers from stage 1 to stage 2 | 298,725 | 108,434 |
– transfers from stage 2 to stage 1 | (172,894) | (73,086) |
– transfers to stage 3 | (10,320) | (5,022) |
– transfers from stage 3 | 1,272 | 737 |
Assets derecognised (including final repayments) | (37,409) | (19,909) |
Changes to risk parameters – further lending/repayment | 29,092 | (2,560) |
Foreign exchange | 9,123 | 1,201 |
Others | 292 | 652 |
Financial assets, ending balance | 223,432 | 105,551 |
Gross carrying/nominal amount | Lifetime expected credit losses | Non-credit impaired | Other | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 1,827 | |
Financial assets, ending balance | 3,975 | 1,827 |
Gross carrying/nominal amount | Lifetime expected credit losses | Non-credit impaired | IFRS 9 | Other | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 1,827 | |
Financial assets, ending balance | 3,975 | 1,827 |
Gross carrying/nominal amount | Lifetime expected credit losses | Non-credit impaired | IFRS 9 | Debt securities | Financial assets measured at fair value through other comprehensive income, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 975 | |
Financial assets, ending balance | 1,404 | 975 |
Gross carrying/nominal amount | Lifetime expected credit losses | Credit impaired | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 14,486 | |
Financial assets, ending balance | 20,621 | 14,486 |
Gross carrying/nominal amount | Lifetime expected credit losses | Credit impaired | Loans and advances to banks and customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 14,335 | 14,232 |
Transfers of financial instruments: | 12,453 | 5,181 |
– transfers to stage 3 | 14,262 | 6,306 |
– transfers from stage 3 | (1,809) | (1,125) |
Assets derecognised (including final repayments) | (3,430) | (2,712) |
Changes to risk parameters – further lending/repayment | (597) | 402 |
Assets written off | (2,946) | (2,657) |
Credit-related modifications that resulted in derecognition | (23) | (268) |
Foreign exchange | 633 | 160 |
Others | (1) | (3) |
Financial assets, ending balance | 20,424 | 14,335 |
Gross carrying/nominal amount | Lifetime expected credit losses | Credit impaired | Other | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 151 | |
Financial assets, ending balance | 177 | 151 |
Gross carrying/nominal amount | Lifetime expected credit losses | Credit impaired | IFRS 9 | Other | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 151 | |
Financial assets, ending balance | 177 | 151 |
Gross carrying/nominal amount | Lifetime expected credit losses | Credit impaired | IFRS 9 | Debt securities | Financial assets measured at fair value through other comprehensive income, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 0 | |
Financial assets, ending balance | 257 | 0 |
Gross carrying/nominal amount | Lifetime expected credit losses | POCI | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 346 | |
Financial assets, ending balance | 319 | 346 |
Gross carrying/nominal amount | Lifetime expected credit losses | POCI | Loans and advances to banks and customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 345 | 334 |
New financial assets originated or purchased | 25 | 135 |
Assets derecognised (including final repayments) | (23) | (26) |
Changes to risk parameters – further lending/repayment | (50) | 28 |
Assets written off | (30) | (140) |
Foreign exchange | 4 | 1 |
Others | 8 | 13 |
Financial assets, ending balance | 279 | 345 |
Gross carrying/nominal amount | Lifetime expected credit losses | POCI | Other | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 1 | |
Financial assets, ending balance | 40 | 1 |
Gross carrying/nominal amount | Lifetime expected credit losses | POCI | IFRS 9 | Other | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 1 | |
Financial assets, ending balance | 40 | 1 |
Gross carrying/nominal amount | Lifetime expected credit losses | POCI | IFRS 9 | Debt securities | Financial assets measured at fair value through other comprehensive income, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 1 | |
Financial assets, ending balance | 49 | 1 |
Allowance for ECL | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (9,243) | |
Financial assets, ending balance | (15,566) | (9,243) |
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 | (15,707) | (9,409) |
Total ECL income statement change for the period | (8,817) | (2,756) |
Allowance for ECL | Loans and advances to banks and customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (9,125) | (9,056) |
Net remeasurement of ECL arising from transfer of stage | (1,001) | (121) |
New financial assets originated or purchased | (654) | (555) |
Assets derecognised (including final repayments) | 1,111 | 1,329 |
Changes to risk parameters – further lending/repayment | 488 | 364 |
Changes to risk parameters – credit quality | (9,199) | (3,961) |
Changes to models used for ECL calculation | 433 | 12 |
Assets written off | 2,974 | 2,797 |
Credit-related modifications that resulted in derecognition | 7 | 125 |
Foreign exchange | (436) | (79) |
Others | 11 | 20 |
Financial assets, ending balance | (15,391) | (9,125) |
ECL income statement change for the period | (8,822) | (2,932) |
Recoveries | 326 | 361 |
Others | (84) | (20) |
Total ECL income statement change for the period | (8,580) | (2,591) |
Allowance for ECL | Other | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (118) | |
Financial assets, ending balance | (175) | (118) |
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 | (141) | (166) |
Total ECL income statement change for the period | (48) | (105) |
Allowance for ECL | IFRS 9 | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (8,866) | |
Financial assets, ending balance | (14,707) | (8,866) |
Allowance for ECL | IFRS 9 | Financial assets measured at fair value through other comprehensive income, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (166) | |
Financial assets, ending balance | (141) | (166) |
Allowance for ECL | IFRS 9 | Financial instruments including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (9,243) | |
Financial assets, ending balance | (15,566) | (9,243) |
Total ECL income statement change for the period | (8,769) | (2,651) |
Allowance for ECL | IFRS 9 | Other | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (118) | |
Financial assets, ending balance | (175) | (118) |
Total ECL income statement change for the period | (95) | (26) |
Allowance for ECL | IFRS 9 | – reverse repurchase agreements – non-trading | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 0 | |
Financial assets, ending balance | 0 | 0 |
Allowance for ECL | IFRS 9 | Performance and other guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Total ECL income statement change for the period | (94) | (34) |
Allowance for ECL | IFRS 9 | Debt securities | Financial assets measured at fair value through other comprehensive income, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (166) | |
Financial assets, ending balance | (141) | (166) |
Allowance for ECL | 12-month expected credit losses | Non-credit impaired | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (1,502) | |
Financial assets, ending balance | (2,414) | (1,502) |
Allowance for ECL | 12-month expected credit losses | Non-credit impaired | Loans and advances to banks and customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (1,464) | (1,449) |
Transfers of financial instruments: | (1,122) | (543) |
– transfers from stage 1 to stage 2 | 947 | 487 |
– transfers from stage 2 to stage 1 | (2,073) | (1,044) |
– transfers to stage 3 | 30 | 59 |
– transfers from stage 3 | (26) | (45) |
Net remeasurement of ECL arising from transfer of stage | 907 | 669 |
New financial assets originated or purchased | (653) | (534) |
Assets derecognised (including final repayments) | 160 | 112 |
Changes to risk parameters – further lending/repayment | 157 | 291 |
Changes to risk parameters – credit quality | (408) | 2 |
Changes to models used for ECL calculation | 134 | (6) |
Foreign exchange | (47) | (9) |
Others | 5 | 3 |
Financial assets, ending balance | (2,331) | (1,464) |
ECL income statement change for the period | 297 | 534 |
Allowance for ECL | 12-month expected credit losses | Non-credit impaired | Other | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (38) | |
Financial assets, ending balance | (80) | (38) |
Allowance for ECL | 12-month expected credit losses | Non-credit impaired | IFRS 9 | Other | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (38) | |
Financial assets, ending balance | (80) | (38) |
Allowance for ECL | 12-month expected credit losses | Non-credit impaired | IFRS 9 | Debt securities | Financial assets measured at fair value through other comprehensive income, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (39) | |
Financial assets, ending balance | (88) | (39) |
Allowance for ECL | Lifetime expected credit losses | Non-credit impaired | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (2,479) | |
Financial assets, ending balance | (5,445) | (2,479) |
Allowance for ECL | Lifetime expected credit losses | Non-credit impaired | Loans and advances to banks and customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (2,441) | (2,278) |
Transfers of financial instruments: | 1,951 | 1,134 |
– transfers from stage 1 to stage 2 | (947) | (487) |
– transfers from stage 2 to stage 1 | 2,073 | 1,044 |
– transfers to stage 3 | 986 | 665 |
– transfers from stage 3 | (161) | (88) |
Net remeasurement of ECL arising from transfer of stage | (1,158) | (676) |
Assets derecognised (including final repayments) | 464 | 553 |
Changes to risk parameters – further lending/repayment | 85 | 67 |
Changes to risk parameters – credit quality | (4,374) | (1,208) |
Changes to models used for ECL calculation | 294 | 4 |
Foreign exchange | (223) | (40) |
Others | (1) | 3 |
Financial assets, ending balance | (5,403) | (2,441) |
ECL income statement change for the period | (4,689) | (1,260) |
Allowance for ECL | Lifetime expected credit losses | Non-credit impaired | Other | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (38) | |
Financial assets, ending balance | (44) | (38) |
Allowance for ECL | Lifetime expected credit losses | Non-credit impaired | IFRS 9 | Other | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (38) | |
Financial assets, ending balance | (44) | (38) |
Allowance for ECL | Lifetime expected credit losses | Non-credit impaired | IFRS 9 | Debt securities | Financial assets measured at fair value through other comprehensive income, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (127) | |
Financial assets, ending balance | (20) | (127) |
Allowance for ECL | Lifetime expected credit losses | Credit impaired | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (5,163) | |
Financial assets, ending balance | (7,585) | (5,163) |
Allowance for ECL | Lifetime expected credit losses | Credit impaired | Loans and advances to banks and customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (5,121) | (5,135) |
Transfers of financial instruments: | (829) | (591) |
– transfers to stage 3 | (1,016) | (724) |
– transfers from stage 3 | 187 | 133 |
Net remeasurement of ECL arising from transfer of stage | (750) | (114) |
Assets derecognised (including final repayments) | 485 | 656 |
Changes to risk parameters – further lending/repayment | 248 | (6) |
Changes to risk parameters – credit quality | (4,378) | (2,704) |
Changes to models used for ECL calculation | 5 | 14 |
Assets written off | 2,944 | 2,657 |
Credit-related modifications that resulted in derecognition | 7 | 125 |
Foreign exchange | (163) | (31) |
Others | 8 | 8 |
Financial assets, ending balance | (7,544) | (5,121) |
ECL income statement change for the period | (4,390) | (2,154) |
Allowance for ECL | Lifetime expected credit losses | Credit impaired | Other | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (42) | |
Financial assets, ending balance | (42) | (42) |
Allowance for ECL | Lifetime expected credit losses | Credit impaired | IFRS 9 | Other | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (42) | |
Financial assets, ending balance | (42) | (42) |
Allowance for ECL | Lifetime expected credit losses | Credit impaired | IFRS 9 | Debt securities | Financial assets measured at fair value through other comprehensive income, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 0 | |
Financial assets, ending balance | (23) | 0 |
Allowance for ECL | Lifetime expected credit losses | POCI | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (99) | |
Financial assets, ending balance | (122) | (99) |
Allowance for ECL | Lifetime expected credit losses | POCI | Loans and advances to banks and customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (99) | (194) |
New financial assets originated or purchased | (1) | (21) |
Assets derecognised (including final repayments) | 2 | 8 |
Changes to risk parameters – further lending/repayment | (2) | 12 |
Changes to risk parameters – credit quality | (39) | (51) |
Assets written off | 30 | 140 |
Foreign exchange | (3) | 1 |
Others | (1) | 6 |
Financial assets, ending balance | (113) | (99) |
ECL income statement change for the period | (40) | (52) |
Allowance for ECL | Lifetime expected credit losses | POCI | Other | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 0 | |
Financial assets, ending balance | (9) | 0 |
Allowance for ECL | Lifetime expected credit losses | POCI | IFRS 9 | Other | Financial assets at amortised cost, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 0 | |
Financial assets, ending balance | (9) | 0 |
Allowance for ECL | Lifetime expected credit losses | POCI | IFRS 9 | Debt securities | Financial assets measured at fair value through other comprehensive income, category | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 0 | |
Financial assets, ending balance | $ (10) | $ 0 |
Report Of The Directors Fina_16
Report Of The Directors Financial Review Risk Report - Distribution of financial instruments by credit quality (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ 2,880,751 | $ 2,621,427 |
Off-balance sheet commitments | 262,877 | 273,380 |
Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 263,103 | 273,512 |
Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | (226) | (132) |
Financial assets at amortised cost, category | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 88,639 | 85,735 |
Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 2,584,710 | 2,350,116 |
Financial assets at amortised cost, category | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (15,566) | (9,243) |
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 2,492 | 2,345 |
Loans and other credit-related commitments | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 184,989 | 197,579 |
Loans and other credit-related commitments | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 184,989 | 197,579 |
Loans and other credit-related commitments | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
Performance and other guarantees | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 77,888 | 75,801 |
Performance and other guarantees | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 78,114 | 75,933 |
Performance and other guarantees | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | (226) | (132) |
Loans and advances to customers at amortised cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,037,987 | 1,036,743 |
Loans and advances to customers at amortised cost | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,052,477 | 1,045,475 |
Loans and advances to customers at amortised cost | Financial assets at amortised cost, category | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (14,490) | (8,732) |
Loans and advances to banks at amortised cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 81,616 | 69,203 |
Loans and advances to banks at amortised cost | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 81,658 | 69,219 |
Loans and advances to banks at amortised cost | Financial assets at amortised cost, category | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (42) | (16) |
Debt securities | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 88,639 | 85,735 |
Debt securities | Financial assets at amortised cost, category | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 76,882 | 75,259 |
Debt securities | Financial assets measured at fair value through other comprehensive income, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 399,717 | 355,664 |
Debt securities | Financial assets measured at fair value through other comprehensive income, category | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (141) | (166) |
Debt securities | Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,857 | 1,714 |
Trading assets | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 154,347 | 175,444 |
Trading assets | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 154,347 | 175,444 |
Trading assets | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Other financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 772,408 | 615,179 |
Other financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Financial assets at amortised cost, category | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (175) | (118) |
Other financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 10,754 | 11,769 |
Other financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 10,754 | 11,769 |
Other financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Derivatives | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 307,726 | 242,995 |
Derivatives | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 307,726 | 242,995 |
Derivatives | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
– personal | Loans and advances to customers at amortised cost | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 460,809 | 434,271 |
– personal | Loans and advances to customers at amortised cost | Financial assets at amortised cost, category | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (4,731) | (3,134) |
– corporate and commercial | Loans and advances to customers at amortised cost | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 527,088 | 540,499 |
– corporate and commercial | Loans and advances to customers at amortised cost | Financial assets at amortised cost, category | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (9,494) | (5,438) |
– non-bank financial institutions | Loans and advances to customers at amortised cost | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 64,580 | 70,705 |
– non-bank financial institutions | Loans and advances to customers at amortised cost | Financial assets at amortised cost, category | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (265) | (160) |
Strong | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 85,474 | 96,247 |
Strong | Loans and other credit-related commitments | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 59,392 | 66,148 |
Strong | Performance and other guarantees | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 26,082 | 30,099 |
Strong | Trading assets | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 117,972 | 135,059 |
Strong | Other financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 6,440 | 4,655 |
Strong | Derivatives | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 243,005 | 187,636 |
Good | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 90,573 | 93,225 |
Good | Loans and other credit-related commitments | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 62,664 | 69,890 |
Good | Performance and other guarantees | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 27,909 | 23,335 |
Good | Trading assets | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 14,694 | 15,240 |
Good | Other financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 2,378 | 1,391 |
Good | Derivatives | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 54,581 | 42,642 |
Satisfactory | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 80,922 | 78,816 |
Satisfactory | Loans and other credit-related commitments | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 59,666 | 58,754 |
Satisfactory | Performance and other guarantees | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 21,256 | 20,062 |
Satisfactory | Trading assets | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 20,809 | 22,964 |
Satisfactory | Other financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,827 | 5,584 |
Satisfactory | Derivatives | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 8,709 | 11,894 |
Sub- standard | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 4,949 | 4,662 |
Sub- standard | Loans and other credit-related commitments | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 2,837 | 2,605 |
Sub- standard | Performance and other guarantees | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 2,112 | 2,057 |
Sub- standard | Trading assets | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 829 | 2,181 |
Sub- standard | Other financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 109 | 139 |
Sub- standard | Derivatives | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,359 | 821 |
Financial assets excluding equity securities | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 2,756,425 | 2,502,940 |
Financial assets excluding equity securities | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 2,771,273 | 2,511,972 |
Financial assets excluding equity securities | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (14,848) | (9,032) |
Financial assets excluding equity securities | Strong | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,995,882 | 1,783,286 |
Financial assets excluding equity securities | Good | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 384,915 | 388,474 |
Financial assets excluding equity securities | Satisfactory | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 328,487 | 300,774 |
Financial assets excluding equity securities | Sub- standard | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ 41,979 | $ 25,591 |
Portfolio Concentration Risk | Financial assets excluding equity securities | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Concentration risk percentage | 100.00% | 100.00% |
Portfolio Concentration Risk | Financial assets excluding equity securities | Strong | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Concentration risk percentage | 72.00% | 70.90% |
Portfolio Concentration Risk | Financial assets excluding equity securities | Good | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Concentration risk percentage | 13.90% | 15.50% |
Portfolio Concentration Risk | Financial assets excluding equity securities | Satisfactory | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Concentration risk percentage | 11.90% | 12.00% |
Portfolio Concentration Risk | Financial assets excluding equity securities | Sub- standard | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Concentration risk percentage | 1.50% | 1.00% |
Credit impaired | Credit impaired | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | $ 1,185 | $ 562 |
Credit impaired | Credit impaired | Loans and other credit-related commitments | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 430 | 182 |
Credit impaired | Credit impaired | Performance and other guarantees | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 755 | 380 |
Credit impaired | Credit impaired | Trading assets | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 43 | 0 |
Credit impaired | Credit impaired | Other financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Credit impaired | Credit impaired | Derivatives | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 72 | 2 |
Credit impaired | Financial assets excluding equity securities | Credit impaired | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ 20,010 | $ 13,847 |
Credit impaired | Portfolio Concentration Risk | Financial assets excluding equity securities | Credit impaired | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Concentration risk percentage | 0.70% | 0.60% |
IFRS 9 | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | $ 677,308 | $ 619,866 |
IFRS 9 | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,906,543 | 1,729,873 |
Off-balance sheet commitments | 678,167 | 620,243 |
IFRS 9 | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (14,707) | (8,866) |
Off-balance sheet commitments | (859) | (377) |
IFRS 9 | Financial assets measured at fair value through other comprehensive income, category | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 391,762 | 351,725 |
IFRS 9 | Financial assets measured at fair value through other comprehensive income, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 391,903 | 351,891 |
IFRS 9 | Financial assets measured at fair value through other comprehensive income, category | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (141) | (166) |
IFRS 9 | Loans and other credit-related commitments | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 659,049 | 599,700 |
IFRS 9 | Loans and other credit-related commitments | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 659,783 | 600,029 |
IFRS 9 | Loans and other credit-related commitments | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | (734) | (329) |
IFRS 9 | Financial guarantee and similar contracts | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 18,259 | 20,166 |
IFRS 9 | Financial guarantee and similar contracts | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 18,384 | 20,214 |
IFRS 9 | Financial guarantee and similar contracts | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | (125) | (48) |
IFRS 9 | Loans and advances to customers at amortised cost | Financial assets at amortised cost, category | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,037,987 | 1,036,743 |
IFRS 9 | Loans and advances to customers at amortised cost | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,052,477 | 1,045,475 |
IFRS 9 | Loans and advances to customers at amortised cost | Financial assets at amortised cost, category | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (14,490) | (8,732) |
IFRS 9 | Loans and advances to banks at amortised cost | Financial assets at amortised cost, category | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 81,616 | 69,203 |
IFRS 9 | Loans and advances to banks at amortised cost | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 81,658 | 69,219 |
IFRS 9 | Loans and advances to banks at amortised cost | Financial assets at amortised cost, category | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (42) | (16) |
IFRS 9 | – cash and balances at central banks | Financial assets at amortised cost, category | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 304,481 | 154,099 |
IFRS 9 | – cash and balances at central banks | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 304,486 | 154,101 |
IFRS 9 | – cash and balances at central banks | Financial assets at amortised cost, category | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (5) | (2) |
IFRS 9 | Items in the course of collection from other banks | Financial assets at amortised cost, category | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 4,094 | 4,956 |
IFRS 9 | Items in the course of collection from other banks | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 4,094 | 4,956 |
IFRS 9 | Items in the course of collection from other banks | Financial assets at amortised cost, category | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Hong Kong Government certificates of indebtedness | Financial assets at amortised cost, category | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 40,420 | 38,380 |
IFRS 9 | Hong Kong Government certificates of indebtedness | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 40,420 | 38,380 |
IFRS 9 | Hong Kong Government certificates of indebtedness | Financial assets at amortised cost, category | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | – reverse repurchase agreements – non-trading | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 61,716 | 53,093 |
IFRS 9 | – reverse repurchase agreements – non-trading | Financial assets at amortised cost, category | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 230,628 | 240,862 |
IFRS 9 | – reverse repurchase agreements – non-trading | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 230,628 | 240,862 |
IFRS 9 | – reverse repurchase agreements – non-trading | Financial assets at amortised cost, category | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | – financial investments | Financial assets at amortised cost, category | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 88,639 | 85,735 |
IFRS 9 | – financial investments | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 88,719 | 85,788 |
IFRS 9 | – financial investments | Financial assets at amortised cost, category | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (80) | (53) |
IFRS 9 | Other assets | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 103,971 | 91,029 |
IFRS 9 | Other assets | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 104,061 | 91,092 |
IFRS 9 | Other assets | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (90) | (63) |
IFRS 9 | – endorsements and acceptances | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 10,277 | 10,198 |
IFRS 9 | – endorsements and acceptances | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 10,307 | 10,214 |
IFRS 9 | – endorsements and acceptances | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (30) | (16) |
IFRS 9 | – accrued income and other | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 93,694 | 80,831 |
IFRS 9 | – accrued income and other | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 93,754 | 80,878 |
IFRS 9 | – accrued income and other | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (60) | (47) |
IFRS 9 | Debt securities | Financial assets measured at fair value through other comprehensive income, category | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 391,762 | 351,725 |
IFRS 9 | Debt securities | Financial assets measured at fair value through other comprehensive income, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 391,903 | 351,891 |
IFRS 9 | Debt securities | Financial assets measured at fair value through other comprehensive income, category | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (141) | (166) |
IFRS 9 | Other financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Financial assets at amortised cost, category | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 772,233 | 615,061 |
IFRS 9 | Other financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 772,408 | 615,179 |
IFRS 9 | Other financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Financial assets at amortised cost, category | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (175) | (118) |
IFRS 9 | – personal | Loans and other credit-related commitments | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 236,170 | 223,314 |
IFRS 9 | – personal | Loans and other credit-related commitments | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | (40) | (15) |
IFRS 9 | – personal | Loans and advances to customers at amortised cost | Financial assets at amortised cost, category | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 456,078 | 431,137 |
IFRS 9 | – personal | Loans and advances to customers at amortised cost | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 460,809 | 434,271 |
IFRS 9 | – personal | Loans and advances to customers at amortised cost | Financial assets at amortised cost, category | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (4,731) | (3,134) |
IFRS 9 | – corporate and commercial | Loans and other credit-related commitments | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 299,802 | 278,524 |
IFRS 9 | – corporate and commercial | Loans and other credit-related commitments | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | (650) | (307) |
IFRS 9 | – corporate and commercial | Loans and advances to customers at amortised cost | Financial assets at amortised cost, category | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 517,594 | 535,061 |
IFRS 9 | – corporate and commercial | Loans and advances to customers at amortised cost | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 527,088 | 540,499 |
IFRS 9 | – corporate and commercial | Loans and advances to customers at amortised cost | Financial assets at amortised cost, category | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (9,494) | (5,438) |
IFRS 9 | – non-bank financial institutions | Loans and other credit-related commitments | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 123,811 | 98,191 |
IFRS 9 | – non-bank financial institutions | Loans and other credit-related commitments | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | (44) | (7) |
IFRS 9 | – non-bank financial institutions | Loans and advances to customers at amortised cost | Financial assets at amortised cost, category | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 64,315 | 70,545 |
IFRS 9 | – non-bank financial institutions | Loans and advances to customers at amortised cost | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 64,580 | 70,705 |
IFRS 9 | – non-bank financial institutions | Loans and advances to customers at amortised cost | Financial assets at amortised cost, category | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (265) | (160) |
IFRS 9 | Strong | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 407,267 | 376,865 |
IFRS 9 | Strong | Financial assets measured at fair value through other comprehensive income, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 367,685 | 333,158 |
IFRS 9 | Strong | Loans and other credit-related commitments | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 400,911 | 369,424 |
IFRS 9 | Strong | Financial guarantee and similar contracts | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 6,356 | 7,441 |
IFRS 9 | Strong | Loans and advances to customers at amortised cost | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 506,231 | 524,889 |
IFRS 9 | Strong | Loans and advances to banks at amortised cost | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 71,318 | 60,636 |
IFRS 9 | Strong | – cash and balances at central banks | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 302,028 | 151,788 |
IFRS 9 | Strong | Items in the course of collection from other banks | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 4,079 | 4,935 |
IFRS 9 | Strong | Hong Kong Government certificates of indebtedness | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 40,420 | 38,380 |
IFRS 9 | Strong | – reverse repurchase agreements – non-trading | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 177,457 | 193,157 |
IFRS 9 | Strong | – financial investments | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 77,361 | 78,318 |
IFRS 9 | Strong | Other assets | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 81,886 | 70,675 |
IFRS 9 | Strong | – endorsements and acceptances | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,458 | 1,133 |
IFRS 9 | Strong | – accrued income and other | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 80,428 | 69,542 |
IFRS 9 | Strong | Debt securities | Financial assets measured at fair value through other comprehensive income, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 367,685 | 333,158 |
IFRS 9 | Strong | Other financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 683,231 | 537,253 |
IFRS 9 | Strong | – personal | Loans and advances to customers at amortised cost | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 357,821 | 354,461 |
IFRS 9 | Strong | – corporate and commercial | Loans and advances to customers at amortised cost | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 120,971 | 138,126 |
IFRS 9 | Strong | – non-bank financial institutions | Loans and advances to customers at amortised cost | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 27,439 | 32,302 |
IFRS 9 | Good | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 162,533 | 153,021 |
IFRS 9 | Good | Financial assets measured at fair value through other comprehensive income, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 12,678 | 10,966 |
IFRS 9 | Good | Loans and other credit-related commitments | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 157,339 | 146,988 |
IFRS 9 | Good | Financial guarantee and similar contracts | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 5,194 | 6,033 |
IFRS 9 | Good | Loans and advances to customers at amortised cost | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 233,320 | 258,402 |
IFRS 9 | Good | Loans and advances to banks at amortised cost | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 5,496 | 5,329 |
IFRS 9 | Good | – cash and balances at central banks | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,388 | 1,398 |
IFRS 9 | Good | Items in the course of collection from other banks | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 9 | 18 |
IFRS 9 | Good | Hong Kong Government certificates of indebtedness | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Good | – reverse repurchase agreements – non-trading | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 40,461 | 37,947 |
IFRS 9 | Good | – financial investments | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 9,781 | 6,503 |
IFRS 9 | Good | Other assets | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 10,129 | 8,638 |
IFRS 9 | Good | – endorsements and acceptances | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 4,355 | 4,651 |
IFRS 9 | Good | – accrued income and other | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 5,774 | 3,987 |
IFRS 9 | Good | Debt securities | Financial assets measured at fair value through other comprehensive income, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 12,678 | 10,966 |
IFRS 9 | Good | Other financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 61,768 | 54,505 |
IFRS 9 | Good | – personal | Loans and advances to customers at amortised cost | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 53,892 | 45,037 |
IFRS 9 | Good | – corporate and commercial | Loans and advances to customers at amortised cost | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 158,601 | 190,470 |
IFRS 9 | Good | – non-bank financial institutions | Loans and advances to customers at amortised cost | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 20,827 | 22,895 |
IFRS 9 | Satisfactory | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 96,101 | 83,038 |
IFRS 9 | Satisfactory | Financial assets measured at fair value through other comprehensive income, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 10,409 | 7,222 |
IFRS 9 | Satisfactory | Loans and other credit-related commitments | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 90,784 | 77,499 |
IFRS 9 | Satisfactory | Financial guarantee and similar contracts | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 5,317 | 5,539 |
IFRS 9 | Satisfactory | Loans and advances to customers at amortised cost | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 256,584 | 228,485 |
IFRS 9 | Satisfactory | Loans and advances to banks at amortised cost | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 3,568 | 1,859 |
IFRS 9 | Satisfactory | – cash and balances at central banks | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,070 | 915 |
IFRS 9 | Satisfactory | Items in the course of collection from other banks | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 6 | 3 |
IFRS 9 | Satisfactory | Hong Kong Government certificates of indebtedness | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Satisfactory | – reverse repurchase agreements – non-trading | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 12,398 | 9,621 |
IFRS 9 | Satisfactory | – financial investments | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,537 | 906 |
IFRS 9 | Satisfactory | Other assets | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 11,570 | 11,321 |
IFRS 9 | Satisfactory | – endorsements and acceptances | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 4,245 | 4,196 |
IFRS 9 | Satisfactory | – accrued income and other | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 7,325 | 7,125 |
IFRS 9 | Satisfactory | Debt securities | Financial assets measured at fair value through other comprehensive income, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 10,409 | 7,222 |
IFRS 9 | Satisfactory | Other financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 26,581 | 22,766 |
IFRS 9 | Satisfactory | – personal | Loans and advances to customers at amortised cost | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 38,520 | 27,636 |
IFRS 9 | Satisfactory | – corporate and commercial | Loans and advances to customers at amortised cost | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 203,560 | 186,383 |
IFRS 9 | Satisfactory | – non-bank financial institutions | Loans and advances to customers at amortised cost | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 14,504 | 14,466 |
IFRS 9 | Sub- standard | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 10,915 | 6,349 |
IFRS 9 | Sub- standard | Financial assets measured at fair value through other comprehensive income, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 825 | 544 |
IFRS 9 | Sub- standard | Loans and other credit-related commitments | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 9,668 | 5,338 |
IFRS 9 | Sub- standard | Financial guarantee and similar contracts | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 1,247 | 1,011 |
IFRS 9 | Sub- standard | Loans and advances to customers at amortised cost | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 36,970 | 20,007 |
IFRS 9 | Sub- standard | Loans and advances to banks at amortised cost | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,276 | 1,395 |
IFRS 9 | Sub- standard | – cash and balances at central banks | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Sub- standard | Items in the course of collection from other banks | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Sub- standard | Hong Kong Government certificates of indebtedness | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Sub- standard | – reverse repurchase agreements – non-trading | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 312 | 137 |
IFRS 9 | Sub- standard | – financial investments | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1 | 61 |
IFRS 9 | Sub- standard | Other assets | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 298 | 306 |
IFRS 9 | Sub- standard | – endorsements and acceptances | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 229 | 230 |
IFRS 9 | Sub- standard | – accrued income and other | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 69 | 76 |
IFRS 9 | Sub- standard | Debt securities | Financial assets measured at fair value through other comprehensive income, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 825 | 544 |
IFRS 9 | Sub- standard | Other financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 611 | 503 |
IFRS 9 | Sub- standard | – personal | Loans and advances to customers at amortised cost | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 4,965 | 2,286 |
IFRS 9 | Sub- standard | – corporate and commercial | Loans and advances to customers at amortised cost | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 30,718 | 16,891 |
IFRS 9 | Sub- standard | – non-bank financial institutions | Loans and advances to customers at amortised cost | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,287 | 830 |
IFRS 9 | Credit impaired | Financial assets measured at fair value through other comprehensive income, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 306 | 1 |
IFRS 9 | Credit impaired | Loans and other credit-related commitments | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 1,081 | 780 |
IFRS 9 | Credit impaired | Loans and advances to customers at amortised cost | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 19,372 | 13,692 |
IFRS 9 | Credit impaired | Loans and advances to banks at amortised cost | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Credit impaired | Other financial assets designated and otherwise mandatorily measured at fair value through profit or loss | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 217 | 152 |
IFRS 9 | Credit impaired | Credit impaired | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 1,351 | 970 |
IFRS 9 | Credit impaired | Credit impaired | Loans and other credit-related commitments | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 1,081 | 780 |
IFRS 9 | Credit impaired | Credit impaired | Financial guarantee and similar contracts | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 270 | 190 |
IFRS 9 | Credit impaired | Credit impaired | Loans and advances to customers at amortised cost | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 19,372 | 13,692 |
IFRS 9 | Credit impaired | Credit impaired | Loans and advances to banks at amortised cost | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Credit impaired | Credit impaired | – cash and balances at central banks | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Credit impaired | Credit impaired | Items in the course of collection from other banks | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Credit impaired | Credit impaired | Hong Kong Government certificates of indebtedness | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Credit impaired | Credit impaired | – reverse repurchase agreements – non-trading | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Credit impaired | Credit impaired | – financial investments | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 39 | 0 |
IFRS 9 | Credit impaired | Credit impaired | Other assets | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 178 | 152 |
IFRS 9 | Credit impaired | Credit impaired | – endorsements and acceptances | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 20 | 4 |
IFRS 9 | Credit impaired | Credit impaired | – accrued income and other | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 158 | 148 |
IFRS 9 | Credit impaired | Credit impaired | Debt securities | Financial assets measured at fair value through other comprehensive income, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 306 | 1 |
IFRS 9 | Credit impaired | Credit impaired | – personal | Loans and advances to customers at amortised cost | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 5,611 | 4,851 |
IFRS 9 | Credit impaired | Credit impaired | – corporate and commercial | Loans and advances to customers at amortised cost | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 13,238 | 8,629 |
IFRS 9 | Credit impaired | Credit impaired | – non-bank financial institutions | Loans and advances to customers at amortised cost | Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ 523 | $ 212 |
Report Of The Directors Fina_17
Report Of The Directors Financial Review Risk Report - Distribution of financial instruments to which the impairment requirements in IFRS 9 are applied, by credit quality and stage allocation (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ 2,880,751 | $ 2,621,427 |
Off-balance sheet commitments | 262,877 | 273,380 |
Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 263,103 | 273,512 |
Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | (226) | (132) |
Loans and other credit-related commitments | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 184,989 | 197,579 |
Loans and other credit-related commitments | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 184,989 | 197,579 |
Loans and other credit-related commitments | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
Loans and advances to customers at amortised cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,037,987 | 1,036,743 |
Loans and advances to banks at amortised cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 81,616 | 69,203 |
Debt securities | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 88,639 | 85,735 |
Financial assets at amortised cost, category | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 88,639 | 85,735 |
Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 2,584,710 | 2,350,116 |
Financial assets at amortised cost, category | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (15,566) | (9,243) |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,052,477 | 1,045,475 |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (14,490) | (8,732) |
Financial assets at amortised cost, category | Loans and advances to banks at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 81,658 | 69,219 |
Financial assets at amortised cost, category | Loans and advances to banks at amortised cost | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (42) | (16) |
Financial assets at amortised cost, category | Other | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 772,408 | 615,179 |
Financial assets at amortised cost, category | Other | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (175) | (118) |
Financial assets at amortised cost, category | Debt securities | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 76,882 | 75,259 |
Financial assets at amortised cost, category | 12-month expected credit losses | Non-credit impaired | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 2,336,365 | 2,227,867 |
Financial assets at amortised cost, category | 12-month expected credit losses | Non-credit impaired | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (2,414) | (1,502) |
Financial assets at amortised cost, category | 12-month expected credit losses | Non-credit impaired | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 869,920 | 951,583 |
Financial assets at amortised cost, category | 12-month expected credit losses | Non-credit impaired | Loans and advances to customers at amortised cost | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (1,974) | (1,297) |
Financial assets at amortised cost, category | 12-month expected credit losses | Non-credit impaired | Loans and advances to banks at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 79,654 | 67,769 |
Financial assets at amortised cost, category | 12-month expected credit losses | Non-credit impaired | Loans and advances to banks at amortised cost | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (33) | (14) |
Financial assets at amortised cost, category | 12-month expected credit losses | Non-credit impaired | Other | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 768,216 | 613,200 |
Financial assets at amortised cost, category | 12-month expected credit losses | Non-credit impaired | Other | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (80) | (38) |
Financial assets at amortised cost, category | Lifetime expected credit losses | Non-credit impaired | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 227,405 | 107,417 |
Financial assets at amortised cost, category | Lifetime expected credit losses | Non-credit impaired | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (5,445) | (2,479) |
Financial assets at amortised cost, category | Lifetime expected credit losses | Non-credit impaired | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 163,185 | 80,182 |
Financial assets at amortised cost, category | Lifetime expected credit losses | Non-credit impaired | Loans and advances to customers at amortised cost | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (4,965) | (2,284) |
Financial assets at amortised cost, category | Lifetime expected credit losses | Non-credit impaired | Loans and advances to banks at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 2,004 | 1,450 |
Financial assets at amortised cost, category | Lifetime expected credit losses | Non-credit impaired | Loans and advances to banks at amortised cost | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (9) | (2) |
Financial assets at amortised cost, category | Lifetime expected credit losses | Non-credit impaired | Other | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 3,975 | 1,827 |
Financial assets at amortised cost, category | Lifetime expected credit losses | Non-credit impaired | Other | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (44) | (38) |
Financial assets at amortised cost, category | Lifetime expected credit losses | Credit impaired | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 20,621 | 14,486 |
Financial assets at amortised cost, category | Lifetime expected credit losses | Credit impaired | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (7,585) | (5,163) |
Financial assets at amortised cost, category | Lifetime expected credit losses | Credit impaired | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 19,095 | 13,378 |
Financial assets at amortised cost, category | Lifetime expected credit losses | Credit impaired | Loans and advances to customers at amortised cost | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (7,439) | (5,052) |
Financial assets at amortised cost, category | Lifetime expected credit losses | Credit impaired | Loans and advances to banks at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Financial assets at amortised cost, category | Lifetime expected credit losses | Credit impaired | Loans and advances to banks at amortised cost | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Financial assets at amortised cost, category | Lifetime expected credit losses | Credit impaired | Other | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 177 | 151 |
Financial assets at amortised cost, category | Lifetime expected credit losses | Credit impaired | Other | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (42) | (42) |
Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 319 | 346 |
Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (122) | (99) |
Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 277 | 332 |
Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Loans and advances to customers at amortised cost | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (112) | (99) |
Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Loans and advances to banks at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Loans and advances to banks at amortised cost | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Other | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 40 | 1 |
Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Other | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (9) | 0 |
Financial assets measured at fair value through other comprehensive income, category | Debt securities | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 399,717 | 355,664 |
Financial assets measured at fair value through other comprehensive income, category | Debt securities | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (141) | (166) |
Strong | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 85,474 | 96,247 |
Strong | Loans and other credit-related commitments | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 59,392 | 66,148 |
Good | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 90,573 | 93,225 |
Good | Loans and other credit-related commitments | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 62,664 | 69,890 |
Satisfactory | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 80,922 | 78,816 |
Satisfactory | Loans and other credit-related commitments | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 59,666 | 58,754 |
Sub- standard | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 4,949 | 4,662 |
Sub- standard | Loans and other credit-related commitments | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 2,837 | 2,605 |
IFRS 9 | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 677,308 | 619,866 |
Financial assets and off-balance sheet loan commitments | 2,569,144 | 2,340,873 |
IFRS 9 | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,906,543 | 1,729,873 |
Off-balance sheet commitments | 678,167 | 620,243 |
Financial assets and off-balance sheet loan commitments | 2,584,710 | 2,350,116 |
IFRS 9 | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (14,707) | (8,866) |
Off-balance sheet commitments | (859) | (377) |
Financial assets and off-balance sheet loan commitments | (15,566) | (9,243) |
IFRS 9 | Loans and other credit-related commitments | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 659,049 | 599,700 |
IFRS 9 | Loans and other credit-related commitments | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 659,783 | 600,029 |
IFRS 9 | Loans and other credit-related commitments | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | (734) | (329) |
IFRS 9 | Financial guarantees | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 18,259 | 20,166 |
IFRS 9 | Financial guarantees | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 18,384 | 20,214 |
IFRS 9 | Financial guarantees | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | (125) | (48) |
IFRS 9 | 12-month expected credit losses | Non-credit impaired | Loans and other credit-related commitments | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 604,195 | 577,494 |
IFRS 9 | 12-month expected credit losses | Non-credit impaired | Loans and other credit-related commitments | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 604,485 | 577,631 |
IFRS 9 | 12-month expected credit losses | Non-credit impaired | Loans and other credit-related commitments | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | (290) | (137) |
IFRS 9 | 12-month expected credit losses | Non-credit impaired | Financial guarantees | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 14,053 | 17,668 |
IFRS 9 | 12-month expected credit losses | Non-credit impaired | Financial guarantees | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 14,090 | 17,684 |
IFRS 9 | 12-month expected credit losses | Non-credit impaired | Financial guarantees | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | (37) | (16) |
IFRS 9 | Lifetime expected credit losses | Non-credit impaired | Loans and other credit-related commitments | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 53,852 | 21,485 |
IFRS 9 | Lifetime expected credit losses | Non-credit impaired | Loans and other credit-related commitments | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 54,217 | 21,618 |
IFRS 9 | Lifetime expected credit losses | Non-credit impaired | Loans and other credit-related commitments | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | (365) | (133) |
IFRS 9 | Lifetime expected credit losses | Non-credit impaired | Financial guarantees | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 3,962 | 2,318 |
IFRS 9 | Lifetime expected credit losses | Non-credit impaired | Financial guarantees | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 4,024 | 2,340 |
IFRS 9 | Lifetime expected credit losses | Non-credit impaired | Financial guarantees | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | (62) | (22) |
IFRS 9 | Lifetime expected credit losses | Credit impaired | Loans and other credit-related commitments | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 1,002 | 712 |
IFRS 9 | Lifetime expected credit losses | Credit impaired | Loans and other credit-related commitments | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 1,080 | 771 |
IFRS 9 | Lifetime expected credit losses | Credit impaired | Loans and other credit-related commitments | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | (78) | (59) |
IFRS 9 | Lifetime expected credit losses | Credit impaired | Financial guarantees | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 243 | 176 |
IFRS 9 | Lifetime expected credit losses | Credit impaired | Financial guarantees | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 269 | 186 |
IFRS 9 | Lifetime expected credit losses | Credit impaired | Financial guarantees | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | (26) | (10) |
IFRS 9 | Lifetime expected credit losses | POCI | Loans and other credit-related commitments | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 9 |
IFRS 9 | Lifetime expected credit losses | POCI | Loans and other credit-related commitments | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 1 | 9 |
IFRS 9 | Lifetime expected credit losses | POCI | Loans and other credit-related commitments | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | (1) | 0 |
IFRS 9 | Lifetime expected credit losses | POCI | Financial guarantees | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 1 | 4 |
IFRS 9 | Lifetime expected credit losses | POCI | Financial guarantees | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 1 | 4 |
IFRS 9 | Lifetime expected credit losses | POCI | Financial guarantees | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
IFRS 9 | Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,037,987 | 1,036,743 |
IFRS 9 | Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,052,477 | 1,045,475 |
IFRS 9 | Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (14,490) | (8,732) |
IFRS 9 | Financial assets at amortised cost, category | Loans and advances to banks at amortised cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 81,616 | 69,203 |
IFRS 9 | Financial assets at amortised cost, category | Loans and advances to banks at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 81,658 | 69,219 |
IFRS 9 | Financial assets at amortised cost, category | Loans and advances to banks at amortised cost | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (42) | (16) |
IFRS 9 | Financial assets at amortised cost, category | Other | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 772,233 | 615,061 |
IFRS 9 | Financial assets at amortised cost, category | Other | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 772,408 | 615,179 |
IFRS 9 | Financial assets at amortised cost, category | Other | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (175) | (118) |
IFRS 9 | Financial assets at amortised cost, category | 12-month expected credit losses | Non-credit impaired | Loans and advances to customers at amortised cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 867,946 | 950,286 |
IFRS 9 | Financial assets at amortised cost, category | 12-month expected credit losses | Non-credit impaired | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 869,920 | 951,583 |
IFRS 9 | Financial assets at amortised cost, category | 12-month expected credit losses | Non-credit impaired | Loans and advances to customers at amortised cost | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (1,974) | (1,297) |
IFRS 9 | Financial assets at amortised cost, category | 12-month expected credit losses | Non-credit impaired | Loans and advances to banks at amortised cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 79,621 | 67,755 |
IFRS 9 | Financial assets at amortised cost, category | 12-month expected credit losses | Non-credit impaired | Loans and advances to banks at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 79,654 | 67,769 |
IFRS 9 | Financial assets at amortised cost, category | 12-month expected credit losses | Non-credit impaired | Loans and advances to banks at amortised cost | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (33) | (14) |
IFRS 9 | Financial assets at amortised cost, category | 12-month expected credit losses | Non-credit impaired | Other | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 768,136 | 613,162 |
IFRS 9 | Financial assets at amortised cost, category | 12-month expected credit losses | Non-credit impaired | Other | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 768,216 | 613,200 |
IFRS 9 | Financial assets at amortised cost, category | 12-month expected credit losses | Non-credit impaired | Other | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (80) | (38) |
IFRS 9 | Financial assets at amortised cost, category | Lifetime expected credit losses | Non-credit impaired | Loans and advances to customers at amortised cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 158,220 | 77,898 |
IFRS 9 | Financial assets at amortised cost, category | Lifetime expected credit losses | Non-credit impaired | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 163,185 | 80,182 |
IFRS 9 | Financial assets at amortised cost, category | Lifetime expected credit losses | Non-credit impaired | Loans and advances to customers at amortised cost | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (4,965) | (2,284) |
IFRS 9 | Financial assets at amortised cost, category | Lifetime expected credit losses | Non-credit impaired | Loans and advances to banks at amortised cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,995 | 1,448 |
IFRS 9 | Financial assets at amortised cost, category | Lifetime expected credit losses | Non-credit impaired | Loans and advances to banks at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 2,004 | 1,450 |
IFRS 9 | Financial assets at amortised cost, category | Lifetime expected credit losses | Non-credit impaired | Loans and advances to banks at amortised cost | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (9) | (2) |
IFRS 9 | Financial assets at amortised cost, category | Lifetime expected credit losses | Non-credit impaired | Other | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 3,931 | 1,789 |
IFRS 9 | Financial assets at amortised cost, category | Lifetime expected credit losses | Non-credit impaired | Other | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 3,975 | 1,827 |
IFRS 9 | Financial assets at amortised cost, category | Lifetime expected credit losses | Non-credit impaired | Other | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (44) | (38) |
IFRS 9 | Financial assets at amortised cost, category | Lifetime expected credit losses | Credit impaired | Loans and advances to customers at amortised cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 11,656 | 8,326 |
IFRS 9 | Financial assets at amortised cost, category | Lifetime expected credit losses | Credit impaired | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 19,095 | 13,378 |
IFRS 9 | Financial assets at amortised cost, category | Lifetime expected credit losses | Credit impaired | Loans and advances to customers at amortised cost | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (7,439) | (5,052) |
IFRS 9 | Financial assets at amortised cost, category | Lifetime expected credit losses | Credit impaired | Loans and advances to banks at amortised cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Financial assets at amortised cost, category | Lifetime expected credit losses | Credit impaired | Loans and advances to banks at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Financial assets at amortised cost, category | Lifetime expected credit losses | Credit impaired | Loans and advances to banks at amortised cost | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Financial assets at amortised cost, category | Lifetime expected credit losses | Credit impaired | Other | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 135 | 109 |
IFRS 9 | Financial assets at amortised cost, category | Lifetime expected credit losses | Credit impaired | Other | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 177 | 151 |
IFRS 9 | Financial assets at amortised cost, category | Lifetime expected credit losses | Credit impaired | Other | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (42) | (42) |
IFRS 9 | Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Loans and advances to customers at amortised cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 165 | 233 |
IFRS 9 | Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 277 | 332 |
IFRS 9 | Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Loans and advances to customers at amortised cost | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (112) | (99) |
IFRS 9 | Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Loans and advances to banks at amortised cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Loans and advances to banks at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Loans and advances to banks at amortised cost | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Other | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 31 | 1 |
IFRS 9 | Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Other | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 40 | 1 |
IFRS 9 | Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Other | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (9) | 0 |
IFRS 9 | Financial assets measured at fair value through other comprehensive income, category | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 391,762 | 351,725 |
IFRS 9 | Financial assets measured at fair value through other comprehensive income, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 391,903 | 351,891 |
IFRS 9 | Financial assets measured at fair value through other comprehensive income, category | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (141) | (166) |
IFRS 9 | Financial assets measured at fair value through other comprehensive income, category | Debt securities | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 391,762 | 351,725 |
IFRS 9 | Financial assets measured at fair value through other comprehensive income, category | Debt securities | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 391,903 | 351,891 |
IFRS 9 | Financial assets measured at fair value through other comprehensive income, category | Debt securities | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (141) | (166) |
IFRS 9 | Financial assets measured at fair value through other comprehensive income, category | 12-month expected credit losses | Non-credit impaired | Debt securities | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 390,105 | 350,876 |
IFRS 9 | Financial assets measured at fair value through other comprehensive income, category | 12-month expected credit losses | Non-credit impaired | Debt securities | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 390,193 | 350,915 |
IFRS 9 | Financial assets measured at fair value through other comprehensive income, category | 12-month expected credit losses | Non-credit impaired | Debt securities | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (88) | (39) |
IFRS 9 | Financial assets measured at fair value through other comprehensive income, category | Lifetime expected credit losses | Non-credit impaired | Debt securities | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,384 | 848 |
IFRS 9 | Financial assets measured at fair value through other comprehensive income, category | Lifetime expected credit losses | Non-credit impaired | Debt securities | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,404 | 975 |
IFRS 9 | Financial assets measured at fair value through other comprehensive income, category | Lifetime expected credit losses | Non-credit impaired | Debt securities | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (20) | (127) |
IFRS 9 | Financial assets measured at fair value through other comprehensive income, category | Lifetime expected credit losses | Credit impaired | Debt securities | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 234 | 0 |
IFRS 9 | Financial assets measured at fair value through other comprehensive income, category | Lifetime expected credit losses | Credit impaired | Debt securities | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 257 | 0 |
IFRS 9 | Financial assets measured at fair value through other comprehensive income, category | Lifetime expected credit losses | Credit impaired | Debt securities | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (23) | 0 |
IFRS 9 | Financial assets measured at fair value through other comprehensive income, category | Lifetime expected credit losses | POCI | Debt securities | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 39 | 1 |
IFRS 9 | Financial assets measured at fair value through other comprehensive income, category | Lifetime expected credit losses | POCI | Debt securities | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 49 | 1 |
IFRS 9 | Financial assets measured at fair value through other comprehensive income, category | Lifetime expected credit losses | POCI | Debt securities | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (10) | 0 |
IFRS 9 | Strong | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 407,267 | 376,865 |
Financial assets and off-balance sheet loan commitments | 1,668,047 | 1,499,643 |
IFRS 9 | Strong | Loans and other credit-related commitments | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 400,911 | 369,424 |
IFRS 9 | Strong | Financial guarantees | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 6,356 | 7,441 |
IFRS 9 | Strong | 12-month expected credit losses | Non-credit impaired | Loans and other credit-related commitments | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 396,028 | 368,711 |
IFRS 9 | Strong | 12-month expected credit losses | Non-credit impaired | Financial guarantees | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 6,286 | 7,400 |
IFRS 9 | Strong | Lifetime expected credit losses | Non-credit impaired | Loans and other credit-related commitments | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 4,883 | 713 |
IFRS 9 | Strong | Lifetime expected credit losses | Non-credit impaired | Financial guarantees | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 70 | 41 |
IFRS 9 | Strong | Lifetime expected credit losses | Credit impaired | Loans and other credit-related commitments | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
IFRS 9 | Strong | Lifetime expected credit losses | Credit impaired | Financial guarantees | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
IFRS 9 | Strong | Lifetime expected credit losses | POCI | Loans and other credit-related commitments | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
IFRS 9 | Strong | Lifetime expected credit losses | POCI | Financial guarantees | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
IFRS 9 | Strong | Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 506,231 | 524,889 |
IFRS 9 | Strong | Financial assets at amortised cost, category | Loans and advances to banks at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 71,318 | 60,636 |
IFRS 9 | Strong | Financial assets at amortised cost, category | Other | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 683,231 | 537,253 |
IFRS 9 | Strong | Financial assets at amortised cost, category | 12-month expected credit losses | Non-credit impaired | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 499,836 | 523,092 |
IFRS 9 | Strong | Financial assets at amortised cost, category | 12-month expected credit losses | Non-credit impaired | Loans and advances to banks at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 71,126 | 60,548 |
IFRS 9 | Strong | Financial assets at amortised cost, category | 12-month expected credit losses | Non-credit impaired | Other | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 682,412 | 536,942 |
IFRS 9 | Strong | Financial assets at amortised cost, category | Lifetime expected credit losses | Non-credit impaired | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 6,395 | 1,797 |
IFRS 9 | Strong | Financial assets at amortised cost, category | Lifetime expected credit losses | Non-credit impaired | Loans and advances to banks at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 192 | 88 |
IFRS 9 | Strong | Financial assets at amortised cost, category | Lifetime expected credit losses | Non-credit impaired | Other | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 819 | 311 |
IFRS 9 | Strong | Financial assets at amortised cost, category | Lifetime expected credit losses | Credit impaired | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Strong | Financial assets at amortised cost, category | Lifetime expected credit losses | Credit impaired | Loans and advances to banks at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Strong | Financial assets at amortised cost, category | Lifetime expected credit losses | Credit impaired | Other | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Strong | Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Strong | Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Loans and advances to banks at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Strong | Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Other | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Strong | Financial assets measured at fair value through other comprehensive income, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 367,685 | 333,158 |
IFRS 9 | Strong | Financial assets measured at fair value through other comprehensive income, category | Debt securities | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 367,685 | 333,158 |
IFRS 9 | Strong | Financial assets measured at fair value through other comprehensive income, category | 12-month expected credit losses | Non-credit impaired | Debt securities | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 367,542 | 333,072 |
IFRS 9 | Strong | Financial assets measured at fair value through other comprehensive income, category | Lifetime expected credit losses | Non-credit impaired | Debt securities | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 143 | 86 |
IFRS 9 | Strong | Financial assets measured at fair value through other comprehensive income, category | Lifetime expected credit losses | Credit impaired | Debt securities | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Strong | Financial assets measured at fair value through other comprehensive income, category | Lifetime expected credit losses | POCI | Debt securities | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Good | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 162,533 | 153,021 |
Financial assets and off-balance sheet loan commitments | 463,117 | 471,257 |
IFRS 9 | Good | Loans and other credit-related commitments | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 157,339 | 146,988 |
IFRS 9 | Good | Financial guarantees | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 5,194 | 6,033 |
IFRS 9 | Good | 12-month expected credit losses | Non-credit impaired | Loans and other credit-related commitments | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 143,600 | 141,322 |
IFRS 9 | Good | 12-month expected credit losses | Non-credit impaired | Financial guarantees | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 4,431 | 5,746 |
IFRS 9 | Good | Lifetime expected credit losses | Non-credit impaired | Loans and other credit-related commitments | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 13,739 | 5,666 |
IFRS 9 | Good | Lifetime expected credit losses | Non-credit impaired | Financial guarantees | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 763 | 287 |
IFRS 9 | Good | Lifetime expected credit losses | Credit impaired | Loans and other credit-related commitments | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
IFRS 9 | Good | Lifetime expected credit losses | Credit impaired | Financial guarantees | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
IFRS 9 | Good | Lifetime expected credit losses | POCI | Loans and other credit-related commitments | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
IFRS 9 | Good | Lifetime expected credit losses | POCI | Financial guarantees | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
IFRS 9 | Good | Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 233,320 | 258,402 |
IFRS 9 | Good | Financial assets at amortised cost, category | Loans and advances to banks at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 5,496 | 5,329 |
IFRS 9 | Good | Financial assets at amortised cost, category | Other | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 61,768 | 54,505 |
IFRS 9 | Good | Financial assets at amortised cost, category | 12-month expected credit losses | Non-credit impaired | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 199,138 | 242,631 |
IFRS 9 | Good | Financial assets at amortised cost, category | 12-month expected credit losses | Non-credit impaired | Loans and advances to banks at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 5,098 | 5,312 |
IFRS 9 | Good | Financial assets at amortised cost, category | 12-month expected credit losses | Non-credit impaired | Other | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 61,218 | 54,058 |
IFRS 9 | Good | Financial assets at amortised cost, category | Lifetime expected credit losses | Non-credit impaired | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 34,182 | 15,771 |
IFRS 9 | Good | Financial assets at amortised cost, category | Lifetime expected credit losses | Non-credit impaired | Loans and advances to banks at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 398 | 17 |
IFRS 9 | Good | Financial assets at amortised cost, category | Lifetime expected credit losses | Non-credit impaired | Other | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 550 | 447 |
IFRS 9 | Good | Financial assets at amortised cost, category | Lifetime expected credit losses | Credit impaired | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Good | Financial assets at amortised cost, category | Lifetime expected credit losses | Credit impaired | Loans and advances to banks at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Good | Financial assets at amortised cost, category | Lifetime expected credit losses | Credit impaired | Other | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Good | Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Good | Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Loans and advances to banks at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Good | Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Other | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Good | Financial assets measured at fair value through other comprehensive income, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 12,678 | 10,966 |
IFRS 9 | Good | Financial assets measured at fair value through other comprehensive income, category | Debt securities | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 12,678 | 10,966 |
IFRS 9 | Good | Financial assets measured at fair value through other comprehensive income, category | 12-month expected credit losses | Non-credit impaired | Debt securities | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 12,585 | 10,941 |
IFRS 9 | Good | Financial assets measured at fair value through other comprehensive income, category | Lifetime expected credit losses | Non-credit impaired | Debt securities | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 93 | 25 |
IFRS 9 | Good | Financial assets measured at fair value through other comprehensive income, category | Lifetime expected credit losses | Credit impaired | Debt securities | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Good | Financial assets measured at fair value through other comprehensive income, category | Lifetime expected credit losses | POCI | Debt securities | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Satisfactory | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 96,101 | 83,038 |
Financial assets and off-balance sheet loan commitments | 382,834 | 336,148 |
IFRS 9 | Satisfactory | Loans and other credit-related commitments | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 90,784 | 77,499 |
IFRS 9 | Satisfactory | Financial guarantees | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 5,317 | 5,539 |
IFRS 9 | Satisfactory | 12-month expected credit losses | Non-credit impaired | Loans and other credit-related commitments | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 63,592 | 66,283 |
IFRS 9 | Satisfactory | 12-month expected credit losses | Non-credit impaired | Financial guarantees | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 3,163 | 4,200 |
IFRS 9 | Satisfactory | Lifetime expected credit losses | Non-credit impaired | Loans and other credit-related commitments | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 27,192 | 11,216 |
IFRS 9 | Satisfactory | Lifetime expected credit losses | Non-credit impaired | Financial guarantees | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 2,154 | 1,339 |
IFRS 9 | Satisfactory | Lifetime expected credit losses | Credit impaired | Loans and other credit-related commitments | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
IFRS 9 | Satisfactory | Lifetime expected credit losses | Credit impaired | Financial guarantees | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
IFRS 9 | Satisfactory | Lifetime expected credit losses | POCI | Loans and other credit-related commitments | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
IFRS 9 | Satisfactory | Lifetime expected credit losses | POCI | Financial guarantees | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
IFRS 9 | Satisfactory | Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 256,584 | 228,485 |
IFRS 9 | Satisfactory | Financial assets at amortised cost, category | Loans and advances to banks at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 3,568 | 1,859 |
IFRS 9 | Satisfactory | Financial assets at amortised cost, category | Other | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 26,581 | 22,766 |
IFRS 9 | Satisfactory | Financial assets at amortised cost, category | 12-month expected credit losses | Non-credit impaired | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 165,507 | 181,056 |
IFRS 9 | Satisfactory | Financial assets at amortised cost, category | 12-month expected credit losses | Non-credit impaired | Loans and advances to banks at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 3,357 | 1,797 |
IFRS 9 | Satisfactory | Financial assets at amortised cost, category | 12-month expected credit losses | Non-credit impaired | Other | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 24,532 | 21,921 |
IFRS 9 | Satisfactory | Financial assets at amortised cost, category | Lifetime expected credit losses | Non-credit impaired | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 91,077 | 47,429 |
IFRS 9 | Satisfactory | Financial assets at amortised cost, category | Lifetime expected credit losses | Non-credit impaired | Loans and advances to banks at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 211 | 62 |
IFRS 9 | Satisfactory | Financial assets at amortised cost, category | Lifetime expected credit losses | Non-credit impaired | Other | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 2,049 | 845 |
IFRS 9 | Satisfactory | Financial assets at amortised cost, category | Lifetime expected credit losses | Credit impaired | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Satisfactory | Financial assets at amortised cost, category | Lifetime expected credit losses | Credit impaired | Loans and advances to banks at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Satisfactory | Financial assets at amortised cost, category | Lifetime expected credit losses | Credit impaired | Other | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Satisfactory | Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Satisfactory | Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Loans and advances to banks at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Satisfactory | Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Other | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Satisfactory | Financial assets measured at fair value through other comprehensive income, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 10,409 | 7,222 |
IFRS 9 | Satisfactory | Financial assets measured at fair value through other comprehensive income, category | Debt securities | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 10,409 | 7,222 |
IFRS 9 | Satisfactory | Financial assets measured at fair value through other comprehensive income, category | 12-month expected credit losses | Non-credit impaired | Debt securities | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 10,066 | 6,902 |
IFRS 9 | Satisfactory | Financial assets measured at fair value through other comprehensive income, category | Lifetime expected credit losses | Non-credit impaired | Debt securities | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 343 | 320 |
IFRS 9 | Satisfactory | Financial assets measured at fair value through other comprehensive income, category | Lifetime expected credit losses | Credit impaired | Debt securities | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Satisfactory | Financial assets measured at fair value through other comprehensive income, category | Lifetime expected credit losses | POCI | Debt securities | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Sub- standard | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 10,915 | 6,349 |
Financial assets and off-balance sheet loan commitments | 49,772 | 28,254 |
IFRS 9 | Sub- standard | Loans and other credit-related commitments | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 9,668 | 5,338 |
IFRS 9 | Sub- standard | Financial guarantees | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 1,247 | 1,011 |
IFRS 9 | Sub- standard | 12-month expected credit losses | Non-credit impaired | Loans and other credit-related commitments | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 1,265 | 1,315 |
IFRS 9 | Sub- standard | 12-month expected credit losses | Non-credit impaired | Financial guarantees | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 210 | 338 |
IFRS 9 | Sub- standard | Lifetime expected credit losses | Non-credit impaired | Loans and other credit-related commitments | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 8,403 | 4,023 |
IFRS 9 | Sub- standard | Lifetime expected credit losses | Non-credit impaired | Financial guarantees | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 1,037 | 673 |
IFRS 9 | Sub- standard | Lifetime expected credit losses | Credit impaired | Loans and other credit-related commitments | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
IFRS 9 | Sub- standard | Lifetime expected credit losses | Credit impaired | Financial guarantees | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
IFRS 9 | Sub- standard | Lifetime expected credit losses | POCI | Loans and other credit-related commitments | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
IFRS 9 | Sub- standard | Lifetime expected credit losses | POCI | Financial guarantees | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
IFRS 9 | Sub- standard | Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 36,970 | 20,007 |
IFRS 9 | Sub- standard | Financial assets at amortised cost, category | Loans and advances to banks at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,276 | 1,395 |
IFRS 9 | Sub- standard | Financial assets at amortised cost, category | Other | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 611 | 503 |
IFRS 9 | Sub- standard | Financial assets at amortised cost, category | 12-month expected credit losses | Non-credit impaired | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 5,439 | 4,804 |
IFRS 9 | Sub- standard | Financial assets at amortised cost, category | 12-month expected credit losses | Non-credit impaired | Loans and advances to banks at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 73 | 112 |
IFRS 9 | Sub- standard | Financial assets at amortised cost, category | 12-month expected credit losses | Non-credit impaired | Other | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 54 | 279 |
IFRS 9 | Sub- standard | Financial assets at amortised cost, category | Lifetime expected credit losses | Non-credit impaired | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 31,531 | 15,185 |
IFRS 9 | Sub- standard | Financial assets at amortised cost, category | Lifetime expected credit losses | Non-credit impaired | Loans and advances to banks at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,203 | 1,283 |
IFRS 9 | Sub- standard | Financial assets at amortised cost, category | Lifetime expected credit losses | Non-credit impaired | Other | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 557 | 224 |
IFRS 9 | Sub- standard | Financial assets at amortised cost, category | Lifetime expected credit losses | Credit impaired | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Sub- standard | Financial assets at amortised cost, category | Lifetime expected credit losses | Credit impaired | Loans and advances to banks at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Sub- standard | Financial assets at amortised cost, category | Lifetime expected credit losses | Credit impaired | Other | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Sub- standard | Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 18 |
IFRS 9 | Sub- standard | Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Loans and advances to banks at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Sub- standard | Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Other | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Sub- standard | Financial assets measured at fair value through other comprehensive income, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 825 | 544 |
IFRS 9 | Sub- standard | Financial assets measured at fair value through other comprehensive income, category | Debt securities | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 825 | 544 |
IFRS 9 | Sub- standard | Financial assets measured at fair value through other comprehensive income, category | 12-month expected credit losses | Non-credit impaired | Debt securities | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Sub- standard | Financial assets measured at fair value through other comprehensive income, category | Lifetime expected credit losses | Non-credit impaired | Debt securities | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 825 | 544 |
IFRS 9 | Sub- standard | Financial assets measured at fair value through other comprehensive income, category | Lifetime expected credit losses | Credit impaired | Debt securities | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Sub- standard | Financial assets measured at fair value through other comprehensive income, category | Lifetime expected credit losses | POCI | Debt securities | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Credit impaired | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets and off-balance sheet loan commitments | 20,940 | 14,814 |
IFRS 9 | Credit impaired | Loans and other credit-related commitments | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 1,081 | 780 |
IFRS 9 | Credit impaired | Financial guarantees | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 270 | 190 |
IFRS 9 | Credit impaired | 12-month expected credit losses | Non-credit impaired | Loans and other credit-related commitments | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
IFRS 9 | Credit impaired | 12-month expected credit losses | Non-credit impaired | Financial guarantees | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
IFRS 9 | Credit impaired | Lifetime expected credit losses | Non-credit impaired | Loans and other credit-related commitments | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
IFRS 9 | Credit impaired | Lifetime expected credit losses | Non-credit impaired | Financial guarantees | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 0 | 0 |
IFRS 9 | Credit impaired | Lifetime expected credit losses | Credit impaired | Loans and other credit-related commitments | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 1,080 | 771 |
IFRS 9 | Credit impaired | Lifetime expected credit losses | Credit impaired | Financial guarantees | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 269 | 186 |
IFRS 9 | Credit impaired | Lifetime expected credit losses | POCI | Loans and other credit-related commitments | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 1 | 9 |
IFRS 9 | Credit impaired | Lifetime expected credit losses | POCI | Financial guarantees | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Off-balance sheet commitments | 1 | 4 |
IFRS 9 | Credit impaired | Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 19,372 | 13,692 |
IFRS 9 | Credit impaired | Financial assets at amortised cost, category | Loans and advances to banks at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Credit impaired | Financial assets at amortised cost, category | Other | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 217 | 152 |
IFRS 9 | Credit impaired | Financial assets at amortised cost, category | 12-month expected credit losses | Non-credit impaired | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Credit impaired | Financial assets at amortised cost, category | 12-month expected credit losses | Non-credit impaired | Loans and advances to banks at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Credit impaired | Financial assets at amortised cost, category | 12-month expected credit losses | Non-credit impaired | Other | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Credit impaired | Financial assets at amortised cost, category | Lifetime expected credit losses | Non-credit impaired | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Credit impaired | Financial assets at amortised cost, category | Lifetime expected credit losses | Non-credit impaired | Loans and advances to banks at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Credit impaired | Financial assets at amortised cost, category | Lifetime expected credit losses | Non-credit impaired | Other | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Credit impaired | Financial assets at amortised cost, category | Lifetime expected credit losses | Credit impaired | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 19,095 | 13,378 |
IFRS 9 | Credit impaired | Financial assets at amortised cost, category | Lifetime expected credit losses | Credit impaired | Loans and advances to banks at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Credit impaired | Financial assets at amortised cost, category | Lifetime expected credit losses | Credit impaired | Other | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 177 | 151 |
IFRS 9 | Credit impaired | Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 277 | 314 |
IFRS 9 | Credit impaired | Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Loans and advances to banks at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Credit impaired | Financial assets at amortised cost, category | Lifetime expected credit losses | POCI | Other | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 40 | 1 |
IFRS 9 | Credit impaired | Financial assets measured at fair value through other comprehensive income, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 306 | 1 |
IFRS 9 | Credit impaired | Financial assets measured at fair value through other comprehensive income, category | 12-month expected credit losses | Non-credit impaired | Debt securities | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Credit impaired | Financial assets measured at fair value through other comprehensive income, category | Lifetime expected credit losses | Non-credit impaired | Debt securities | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
IFRS 9 | Credit impaired | Financial assets measured at fair value through other comprehensive income, category | Lifetime expected credit losses | Credit impaired | Debt securities | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 257 | 0 |
IFRS 9 | Credit impaired | Financial assets measured at fair value through other comprehensive income, category | Lifetime expected credit losses | POCI | Debt securities | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ 49 | $ 1 |
Report Of The Directors Fina_18
Report Of The Directors Financial Review Risk Report - Wholesale lending: reconciliation of changes in gross carrying/nominal amount and allowances for loans and advances to banks and customers including loan commitments and financial guarantees (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | $ 2,621,427 | |
Financial assets, ending balance | 2,880,751 | $ 2,621,427 |
Gross carrying/nominal amount | Loans and advances to banks and customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 1,681,844 | 1,612,646 |
Assets written off | (2,976) | (2,797) |
Credit-related modifications that resulted in derecognition | (23) | (268) |
Foreign exchange and other | 42,568 | 18,200 |
Financial assets, ending balance | 1,750,586 | 1,681,844 |
Accumulated impairment | ||
Increase (decrease) in financial assets [abstract] | ||
Increase (decrease) in financial assets | (1,300) | |
Accumulated impairment | Loans and advances to banks and customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (9,125) | (9,056) |
Net remeasurement of ECL arising from transfer of stage | (1,001) | (121) |
Changes to risk parameters – credit quality | (9,199) | (3,961) |
Changes to models used for ECL calculation | 433 | 12 |
Assets written off | 2,974 | 2,797 |
Credit-related modifications that resulted in derecognition | 7 | 125 |
Foreign exchange and other | (436) | (79) |
Financial assets, ending balance | (15,391) | (9,125) |
ECL income statement change for the period | (8,822) | (2,932) |
Recoveries | 326 | 361 |
Others | (84) | (20) |
Total ECL income statement change for the period | (8,580) | (2,591) |
12-month expected credit losses | Non-credit impaired | Gross carrying/nominal amount | Loans and advances to banks and customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 1,561,613 | 1,502,976 |
Transfers of financial instruments | (129,236) | (36,244) |
Foreign exchange and other | 32,808 | 16,838 |
Financial assets, ending balance | 1,506,451 | 1,561,613 |
12-month expected credit losses | Non-credit impaired | Accumulated impairment | Loans and advances to banks and customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (1,464) | (1,449) |
Transfers of financial instruments | (1,122) | (543) |
Net remeasurement of ECL arising from transfer of stage | 907 | 669 |
Changes to risk parameters – credit quality | (408) | 2 |
Changes to models used for ECL calculation | 134 | (6) |
Foreign exchange and other | (47) | (9) |
Financial assets, ending balance | (2,331) | (1,464) |
ECL income statement change for the period | 297 | 534 |
Lifetime expected credit losses | Non-credit impaired | Gross carrying/nominal amount | Loans and advances to banks and customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 105,551 | 95,104 |
Transfers of financial instruments | 116,783 | 31,063 |
Foreign exchange and other | 9,123 | 1,201 |
Financial assets, ending balance | 223,432 | 105,551 |
Lifetime expected credit losses | Non-credit impaired | Accumulated impairment | Loans and advances to banks and customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (2,441) | (2,278) |
Transfers of financial instruments | 1,951 | 1,134 |
Net remeasurement of ECL arising from transfer of stage | (1,158) | (676) |
Changes to risk parameters – credit quality | (4,374) | (1,208) |
Changes to models used for ECL calculation | 294 | 4 |
Foreign exchange and other | (223) | (40) |
Financial assets, ending balance | (5,403) | (2,441) |
ECL income statement change for the period | (4,689) | (1,260) |
Lifetime expected credit losses | Credit impaired | Gross carrying/nominal amount | Loans and advances to banks and customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 14,335 | 14,232 |
Transfers of financial instruments | 12,453 | 5,181 |
Assets written off | (2,946) | (2,657) |
Credit-related modifications that resulted in derecognition | (23) | (268) |
Foreign exchange and other | 633 | 160 |
Financial assets, ending balance | 20,424 | 14,335 |
Lifetime expected credit losses | Credit impaired | Accumulated impairment | Loans and advances to banks and customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (5,121) | (5,135) |
Transfers of financial instruments | (829) | (591) |
Net remeasurement of ECL arising from transfer of stage | (750) | (114) |
Changes to risk parameters – credit quality | (4,378) | (2,704) |
Changes to models used for ECL calculation | 5 | 14 |
Assets written off | 2,944 | 2,657 |
Credit-related modifications that resulted in derecognition | 7 | 125 |
Foreign exchange and other | (163) | (31) |
Financial assets, ending balance | (7,544) | (5,121) |
ECL income statement change for the period | (4,390) | (2,154) |
Lifetime expected credit losses | POCI | Gross carrying/nominal amount | Loans and advances to banks and customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 345 | 334 |
Assets written off | (30) | (140) |
Foreign exchange and other | 4 | 1 |
Financial assets, ending balance | 279 | 345 |
Lifetime expected credit losses | POCI | Accumulated impairment | Loans and advances to banks and customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (99) | (194) |
Changes to risk parameters – credit quality | (39) | (51) |
Assets written off | 30 | 140 |
Foreign exchange and other | (3) | 1 |
Financial assets, ending balance | (113) | (99) |
ECL income statement change for the period | (40) | (52) |
Wholesale | Gross carrying/nominal amount | Loans and advances to banks and customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 1,023,455 | 1,010,031 |
Net new and further lending/repayments | 4,143 | 6,382 |
Assets written off | (1,567) | (1,452) |
Credit-related modifications that resulted in derecognition | (23) | (268) |
Foreign exchange and other | 26,700 | 8,762 |
Financial assets, ending balance | 1,052,708 | 1,023,455 |
Wholesale | Accumulated impairment | Loans and advances to banks and customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (5,975) | (6,095) |
Net remeasurement of ECL arising from transfer of stage | (869) | (83) |
Net new and further lending/repayments | 286 | 401 |
Changes to risk parameters – credit quality | (5,769) | (1,656) |
Changes to models used for ECL calculation | 440 | (56) |
Assets written off | 1,567 | 1,452 |
Credit-related modifications that resulted in derecognition | 7 | 125 |
Foreign exchange and other | (304) | (63) |
Financial assets, ending balance | (10,617) | (5,975) |
ECL income statement change for the period | (5,912) | (1,394) |
Recoveries | 46 | 47 |
Others | (59) | (24) |
Total ECL income statement change for the period | (5,925) | (1,371) |
Increase (decrease) in financial assets | 4,642 | |
Wholesale | 12-month expected credit losses | Non-credit impaired | Gross carrying/nominal amount | Loans and advances to banks and customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 925,652 | 922,192 |
Transfers of financial instruments | (113,217) | (31,493) |
Net new and further lending/repayments | 10,451 | 27,918 |
Foreign exchange and other | 18,219 | 7,035 |
Financial assets, ending balance | 841,105 | 925,652 |
Wholesale | 12-month expected credit losses | Non-credit impaired | Accumulated impairment | Loans and advances to banks and customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (867) | (902) |
Transfers of financial instruments | (493) | (169) |
Net remeasurement of ECL arising from transfer of stage | 476 | 223 |
Net new and further lending/repayments | (437) | (134) |
Changes to risk parameters – credit quality | (261) | 102 |
Changes to models used for ECL calculation | 137 | |
Foreign exchange and other | (20) | 13 |
Financial assets, ending balance | (1,465) | (867) |
ECL income statement change for the period | (85) | 191 |
Wholesale | Lifetime expected credit losses | Non-credit impaired | Gross carrying/nominal amount | Loans and advances to banks and customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 88,169 | 78,266 |
Transfers of financial instruments | 103,413 | 28,418 |
Net new and further lending/repayments | (2,910) | (20,121) |
Foreign exchange and other | 7,990 | 1,606 |
Financial assets, ending balance | 196,662 | 88,169 |
Wholesale | Lifetime expected credit losses | Non-credit impaired | Accumulated impairment | Loans and advances to banks and customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (1,103) | (1,012) |
Transfers of financial instruments | 770 | 276 |
Net remeasurement of ECL arising from transfer of stage | (603) | (268) |
Net new and further lending/repayments | 141 | 167 |
Changes to risk parameters – credit quality | (2,349) | (193) |
Changes to models used for ECL calculation | 303 | (56) |
Foreign exchange and other | (157) | (17) |
Financial assets, ending balance | (2,998) | (1,103) |
ECL income statement change for the period | (2,508) | (350) |
Wholesale | Lifetime expected credit losses | Credit impaired | Gross carrying/nominal amount | Loans and advances to banks and customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 9,289 | 9,239 |
Transfers of financial instruments | 9,804 | 3,075 |
Net new and further lending/repayments | (3,350) | (1,552) |
Assets written off | (1,537) | (1,312) |
Credit-related modifications that resulted in derecognition | (23) | (268) |
Foreign exchange and other | 479 | 107 |
Financial assets, ending balance | 14,662 | 9,289 |
Wholesale | Lifetime expected credit losses | Credit impaired | Accumulated impairment | Loans and advances to banks and customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (3,906) | (3,987) |
Transfers of financial instruments | (277) | (107) |
Net remeasurement of ECL arising from transfer of stage | (742) | (38) |
Net new and further lending/repayments | 583 | 369 |
Changes to risk parameters – credit quality | (3,120) | (1,514) |
Assets written off | 1,537 | 1,312 |
Credit-related modifications that resulted in derecognition | 7 | 125 |
Foreign exchange and other | (123) | (66) |
Financial assets, ending balance | (6,041) | (3,906) |
ECL income statement change for the period | (3,279) | (1,183) |
Wholesale | Lifetime expected credit losses | POCI | Gross carrying/nominal amount | Loans and advances to banks and customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 345 | 334 |
Net new and further lending/repayments | (48) | 137 |
Assets written off | (30) | (140) |
Foreign exchange and other | 12 | 14 |
Financial assets, ending balance | 279 | 345 |
Wholesale | Lifetime expected credit losses | POCI | Accumulated impairment | Loans and advances to banks and customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (99) | (194) |
Net new and further lending/repayments | (1) | (1) |
Changes to risk parameters – credit quality | (39) | (51) |
Assets written off | 30 | 140 |
Foreign exchange and other | (4) | 7 |
Financial assets, ending balance | (113) | (99) |
ECL income statement change for the period | $ (40) | $ (52) |
Report Of The Directors Fina_19
Report Of The Directors Financial Review Risk Report - Wholesale lending: commercial real estate loans and advances including loan commitments by level of collateral for key countries/territories (by stage) (Details) - Wholesale - Commercial real estate loans and advances including loan commitments - Loans and advances to customers and banks - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 163,217 | $ 168,072 |
ECL coverage | 0.80% | 0.50% |
– UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 30,483 | $ 31,032 |
ECL coverage | 2.00% | 1.00% |
– Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 73,596 | $ 77,903 |
ECL coverage | 0.10% | 0.10% |
12-month expected credit losses | Non-credit impaired | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 132,768 | $ 157,702 |
Collateral value | $ 3,486 | $ 3,602 |
ECL coverage | 0.10% | 0.10% |
12-month expected credit losses | Non-credit impaired | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 22,721 | $ 26,483 |
Collateral value | $ 912 | $ 535 |
ECL coverage | 0.40% | 0.10% |
12-month expected credit losses | Non-credit impaired | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 63,577 | $ 75,903 |
Collateral value | $ 594 | $ 1,142 |
ECL coverage | 0.00% | 0.00% |
12-month expected credit losses | Non-credit impaired | Not collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 55,376 | $ 61,820 |
ECL coverage | 0.10% | 0.10% |
12-month expected credit losses | Non-credit impaired | Not collateralised | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 7,205 | $ 7,266 |
ECL coverage | 0.60% | 0.10% |
12-month expected credit losses | Non-credit impaired | Not collateralised | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 29,422 | $ 32,478 |
ECL coverage | 0.00% | 0.00% |
12-month expected credit losses | Non-credit impaired | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 71,915 | $ 89,319 |
ECL coverage | 0.20% | 0.10% |
12-month expected credit losses | Non-credit impaired | Fully collateralised | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 14,053 | $ 18,535 |
ECL coverage | 0.20% | 0.00% |
12-month expected credit losses | Non-credit impaired | Fully collateralised | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 33,386 | $ 41,798 |
ECL coverage | 0.00% | 0.00% |
12-month expected credit losses | Non-credit impaired | Partially collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 5,477 | $ 6,563 |
ECL coverage | 0.20% | 0.20% |
12-month expected credit losses | Non-credit impaired | Partially collateralised | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,463 | $ 682 |
ECL coverage | 0.10% | 0.00% |
12-month expected credit losses | Non-credit impaired | Partially collateralised | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 769 | $ 1,627 |
ECL coverage | 0.00% | 0.10% |
12-month expected credit losses | Non-credit impaired | – less than 50% | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 36,408 | $ 46,318 |
ECL coverage | 0.10% | 0.10% |
12-month expected credit losses | Non-credit impaired | – less than 50% | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 4,665 | $ 7,018 |
ECL coverage | 0.30% | 0.10% |
12-month expected credit losses | Non-credit impaired | – less than 50% | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 22,361 | $ 28,776 |
ECL coverage | 0.00% | 0.00% |
12-month expected credit losses | Non-credit impaired | – 51% to 75% | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 26,081 | $ 32,583 |
ECL coverage | 0.20% | 0.10% |
12-month expected credit losses | Non-credit impaired | – 51% to 75% | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 7,031 | $ 9,349 |
ECL coverage | 0.20% | 0.00% |
12-month expected credit losses | Non-credit impaired | – 51% to 75% | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 9,091 | $ 10,815 |
ECL coverage | 0.00% | 0.10% |
12-month expected credit losses | Non-credit impaired | – 76% to 90% | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 5,098 | $ 5,018 |
ECL coverage | 0.30% | 0.10% |
12-month expected credit losses | Non-credit impaired | – 76% to 90% | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,932 | $ 1,649 |
ECL coverage | 0.20% | 0.10% |
12-month expected credit losses | Non-credit impaired | – 76% to 90% | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,093 | $ 1,436 |
ECL coverage | 0.00% | 0.10% |
12-month expected credit losses | Non-credit impaired | – 91% to 100% | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 4,328 | $ 5,400 |
ECL coverage | 0.30% | 0.20% |
12-month expected credit losses | Non-credit impaired | – 91% to 100% | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 425 | $ 519 |
ECL coverage | 0.50% | 0.00% |
12-month expected credit losses | Non-credit impaired | – 91% to 100% | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 841 | $ 771 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | Non-credit impaired | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 28,353 | $ 8,724 |
Collateral value | $ 517 | $ 203 |
ECL coverage | 1.10% | 1.10% |
Lifetime expected credit losses | Non-credit impaired | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 6,584 | $ 3,572 |
Collateral value | $ 246 | $ 56 |
ECL coverage | 1.80% | 1.10% |
Lifetime expected credit losses | Non-credit impaired | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 9,999 | $ 1,983 |
Collateral value | $ 147 | $ 25 |
ECL coverage | 0.50% | 0.50% |
Lifetime expected credit losses | Non-credit impaired | Not collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 8,710 | $ 3,040 |
ECL coverage | 1.30% | 1.20% |
Lifetime expected credit losses | Non-credit impaired | Not collateralised | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 3,337 | $ 1,857 |
ECL coverage | 2.20% | 1.20% |
Lifetime expected credit losses | Non-credit impaired | Not collateralised | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,084 | $ 440 |
ECL coverage | 0.10% | 0.20% |
Lifetime expected credit losses | Non-credit impaired | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 18,383 | $ 5,184 |
ECL coverage | 1.00% | 1.10% |
Lifetime expected credit losses | Non-credit impaired | Fully collateralised | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 2,534 | $ 1,419 |
ECL coverage | 1.60% | 1.20% |
Lifetime expected credit losses | Non-credit impaired | Fully collateralised | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 8,719 | $ 1,501 |
ECL coverage | 0.50% | 0.60% |
Lifetime expected credit losses | Non-credit impaired | Partially collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,260 | $ 500 |
ECL coverage | 1.00% | 0.60% |
Lifetime expected credit losses | Non-credit impaired | Partially collateralised | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 713 | $ 296 |
ECL coverage | 0.80% | 0.30% |
Lifetime expected credit losses | Non-credit impaired | Partially collateralised | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 196 | $ 42 |
ECL coverage | 1.00% | 0.00% |
Lifetime expected credit losses | Non-credit impaired | – less than 50% | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 8,544 | $ 2,167 |
ECL coverage | 0.80% | 1.10% |
Lifetime expected credit losses | Non-credit impaired | – less than 50% | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,132 | $ 615 |
ECL coverage | 1.50% | 1.80% |
Lifetime expected credit losses | Non-credit impaired | – less than 50% | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 5,359 | $ 955 |
ECL coverage | 0.40% | 0.30% |
Lifetime expected credit losses | Non-credit impaired | – 51% to 75% | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 8,097 | $ 1,986 |
ECL coverage | 1.10% | 0.90% |
Lifetime expected credit losses | Non-credit impaired | – 51% to 75% | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,020 | $ 712 |
ECL coverage | 2.00% | 0.60% |
Lifetime expected credit losses | Non-credit impaired | – 51% to 75% | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 2,955 | $ 497 |
ECL coverage | 0.80% | 1.00% |
Lifetime expected credit losses | Non-credit impaired | – 76% to 90% | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 849 | $ 333 |
ECL coverage | 1.10% | 2.10% |
Lifetime expected credit losses | Non-credit impaired | – 76% to 90% | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 350 | $ 16 |
ECL coverage | 0.90% | 6.30% |
Lifetime expected credit losses | Non-credit impaired | – 76% to 90% | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 319 | $ 29 |
ECL coverage | 0.30% | 0.00% |
Lifetime expected credit losses | Non-credit impaired | – 91% to 100% | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 893 | $ 698 |
ECL coverage | 1.00% | 1.10% |
Lifetime expected credit losses | Non-credit impaired | – 91% to 100% | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 32 | $ 76 |
ECL coverage | 3.10% | 1.30% |
Lifetime expected credit losses | Non-credit impaired | – 91% to 100% | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 86 | $ 20 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | Credit impaired | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 2,095 | $ 1,645 |
Collateral value | $ 331 | $ 380 |
ECL coverage | 35.90% | 35.60% |
Lifetime expected credit losses | Credit impaired | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,178 | $ 977 |
Collateral value | $ 120 | $ 166 |
ECL coverage | 34.70% | 26.00% |
Lifetime expected credit losses | Credit impaired | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 20 | $ 17 |
Collateral value | $ 0 | $ 0 |
ECL coverage | 5.00% | 11.80% |
Lifetime expected credit losses | Credit impaired | Not collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,038 | $ 315 |
ECL coverage | 45.30% | 57.80% |
Lifetime expected credit losses | Credit impaired | Not collateralised | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 635 | $ 66 |
ECL coverage | 50.70% | 92.40% |
Lifetime expected credit losses | Credit impaired | Not collateralised | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | Credit impaired | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 583 | $ 557 |
ECL coverage | 11.50% | 14.90% |
Lifetime expected credit losses | Credit impaired | Fully collateralised | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 348 | $ 404 |
ECL coverage | 9.50% | 12.90% |
Lifetime expected credit losses | Credit impaired | Fully collateralised | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 20 | $ 17 |
ECL coverage | 5.00% | 11.80% |
Lifetime expected credit losses | Credit impaired | Partially collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 474 | $ 773 |
ECL coverage | 45.60% | 41.50% |
Lifetime expected credit losses | Credit impaired | Partially collateralised | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 195 | $ 507 |
ECL coverage | 27.70% | 27.80% |
Lifetime expected credit losses | Credit impaired | Partially collateralised | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | Credit impaired | – less than 50% | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 177 | $ 87 |
ECL coverage | 13.60% | 16.10% |
Lifetime expected credit losses | Credit impaired | – less than 50% | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 56 | $ 42 |
ECL coverage | 5.40% | 7.10% |
Lifetime expected credit losses | Credit impaired | – less than 50% | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 11 | $ 6 |
ECL coverage | 0.00% | 16.70% |
Lifetime expected credit losses | Credit impaired | – 51% to 75% | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 161 | $ 90 |
ECL coverage | 15.50% | 7.80% |
Lifetime expected credit losses | Credit impaired | – 51% to 75% | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 128 | $ 69 |
ECL coverage | 12.50% | 4.30% |
Lifetime expected credit losses | Credit impaired | – 51% to 75% | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 3 | $ 10 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | Credit impaired | – 76% to 90% | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 149 | $ 89 |
ECL coverage | 6.70% | 15.70% |
Lifetime expected credit losses | Credit impaired | – 76% to 90% | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 139 | $ 72 |
ECL coverage | 5.80% | 4.20% |
Lifetime expected credit losses | Credit impaired | – 76% to 90% | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | Credit impaired | – 91% to 100% | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 96 | $ 291 |
ECL coverage | 8.30% | 16.50% |
Lifetime expected credit losses | Credit impaired | – 91% to 100% | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 25 | $ 221 |
ECL coverage | 24.00% | 19.50% |
Lifetime expected credit losses | Credit impaired | – 91% to 100% | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 6 | $ 1 |
ECL coverage | 16.70% | 0.00% |
Lifetime expected credit losses | POCI | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1 | $ 1 |
Collateral value | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | POCI | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
Collateral value | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | POCI | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
Collateral value | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | POCI | Not collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | POCI | Not collateralised | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | POCI | Not collateralised | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | POCI | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1 | $ 1 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | POCI | Fully collateralised | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | POCI | Fully collateralised | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | POCI | Partially collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | POCI | Partially collateralised | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | POCI | Partially collateralised | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | POCI | – less than 50% | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1 | $ 1 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | POCI | – less than 50% | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | POCI | – less than 50% | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | POCI | – 51% to 75% | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | POCI | – 51% to 75% | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | POCI | – 51% to 75% | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | POCI | – 76% to 90% | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | POCI | – 76% to 90% | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | POCI | – 76% to 90% | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | POCI | – 91% to 100% | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | POCI | – 91% to 100% | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Lifetime expected credit losses | POCI | – 91% to 100% | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Report Of The Directors Fina_20
Report Of The Directors Financial Review Risk Report - Wholesale lending: commercial real estate loans and advances including loan commitments by level of collateral for key countries/territories (Details) - Wholesale - Commercial real estate loans and advances including loan commitments - Loans and advances to customers and banks - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 163,217 | $ 168,072 |
ECL coverage | 0.80% | 0.50% |
Rated CRR/PD1 to 7 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 160,438 | $ 166,201 |
Collateral value | $ 3,994 | $ 3,796 |
ECL coverage | 0.30% | 0.10% |
Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 683 | $ 225 |
Collateral value | $ 9 | $ 9 |
ECL coverage | 9.10% | 6.70% |
Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 2,096 | $ 1,646 |
Collateral value | $ 331 | $ 380 |
ECL coverage | 35.90% | 35.70% |
– UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 30,483 | $ 31,032 |
ECL coverage | 2.00% | 1.00% |
– UK | Rated CRR/PD1 to 7 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 29,184 | $ 29,923 |
Collateral value | $ 1,157 | $ 586 |
ECL coverage | 0.60% | 0.10% |
– UK | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 121 | $ 132 |
Collateral value | $ 1 | $ 5 |
ECL coverage | 12.40% | 7.60% |
– UK | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,178 | $ 977 |
Collateral value | $ 120 | $ 166 |
ECL coverage | 34.70% | 26.00% |
– Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 73,596 | $ 77,903 |
ECL coverage | 0.10% | 0.10% |
– Hong Kong | Rated CRR/PD1 to 7 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 73,332 | $ 77,886 |
Collateral value | $ 741 | $ 1,167 |
ECL coverage | 0.00% | 0.00% |
– Hong Kong | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 244 | $ 0 |
Collateral value | $ 0 | $ 0 |
ECL coverage | 12.70% | 0.00% |
– Hong Kong | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 20 | $ 17 |
Collateral value | $ 0 | $ 0 |
ECL coverage | 5.00% | 11.80% |
Not collateralised | Rated CRR/PD1 to 7 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 64,046 | $ 64,850 |
ECL coverage | 0.30% | 0.10% |
Not collateralised | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 40 | $ 10 |
ECL coverage | 22.50% | 50.00% |
Not collateralised | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,038 | $ 315 |
ECL coverage | 45.30% | 57.80% |
Not collateralised | – UK | Rated CRR/PD1 to 7 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 10,527 | $ 9,119 |
ECL coverage | 1.10% | 0.30% |
Not collateralised | – UK | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 15 | $ 4 |
ECL coverage | 6.70% | 100.00% |
Not collateralised | – UK | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 635 | $ 66 |
ECL coverage | 50.70% | 92.40% |
Not collateralised | – Hong Kong | Rated CRR/PD1 to 7 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 30,506 | $ 32,918 |
ECL coverage | 0.00% | 0.00% |
Not collateralised | – Hong Kong | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Not collateralised | – Hong Kong | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Fully collateralised | Rated CRR/PD1 to 7 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 89,664 | $ 94,299 |
ECL coverage | 0.30% | 0.10% |
Fully collateralised | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 634 | $ 204 |
ECL coverage | 8.20% | 4.90% |
Fully collateralised | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 584 | $ 557 |
ECL coverage | 11.50% | 14.90% |
Fully collateralised | – UK | Rated CRR/PD1 to 7 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 16,483 | $ 19,833 |
ECL coverage | 0.40% | 0.10% |
Fully collateralised | – UK | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 104 | $ 121 |
ECL coverage | 12.50% | 5.00% |
Fully collateralised | – UK | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 348 | $ 404 |
ECL coverage | 9.50% | 12.90% |
Fully collateralised | – Hong Kong | Rated CRR/PD1 to 7 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 41,861 | $ 43,299 |
ECL coverage | 0.10% | 0.10% |
Fully collateralised | – Hong Kong | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 244 | $ 0 |
ECL coverage | 12.70% | 0.00% |
Fully collateralised | – Hong Kong | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 20 | $ 17 |
ECL coverage | 5.00% | 11.80% |
Partially collateralised | Rated CRR/PD1 to 7 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 6,728 | $ 7,052 |
ECL coverage | 0.40% | 0.20% |
Partially collateralised | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 9 | $ 11 |
ECL coverage | 11.10% | 0.00% |
Partially collateralised | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 474 | $ 774 |
ECL coverage | 45.60% | 41.60% |
Partially collateralised | – UK | Rated CRR/PD1 to 7 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 2,174 | $ 971 |
ECL coverage | 0.30% | 0.10% |
Partially collateralised | – UK | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 2 | $ 7 |
ECL coverage | 50.00% | 0.00% |
Partially collateralised | – UK | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 195 | $ 507 |
ECL coverage | 27.70% | 27.80% |
Partially collateralised | – Hong Kong | Rated CRR/PD1 to 7 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 965 | $ 1,669 |
ECL coverage | 0.20% | 0.10% |
Partially collateralised | – Hong Kong | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Partially collateralised | – Hong Kong | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
– less than 50% | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 282 | $ 47 |
ECL coverage | 7.10% | 8.50% |
– less than 50% | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 178 | $ 87 |
ECL coverage | 13.50% | 16.10% |
– less than 50% | – UK | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 15 | $ 27 |
ECL coverage | 6.70% | 14.80% |
– less than 50% | – UK | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 56 | $ 42 |
ECL coverage | 5.40% | 7.10% |
– less than 50% | – Hong Kong | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 102 | $ 0 |
ECL coverage | 11.80% | 0.00% |
– less than 50% | – Hong Kong | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 11 | $ 6 |
ECL coverage | 0.00% | 16.70% |
– 51% to 75% | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 321 | $ 120 |
ECL coverage | 9.00% | 3.30% |
– 51% to 75% | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 161 | $ 90 |
ECL coverage | 15.50% | 7.80% |
– 51% to 75% | – UK | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 75 | $ 68 |
ECL coverage | 13.30% | 1.50% |
– 51% to 75% | – UK | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 128 | $ 69 |
ECL coverage | 12.50% | 4.30% |
– 51% to 75% | – Hong Kong | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 138 | $ 0 |
ECL coverage | 13.00% | 0.00% |
– 51% to 75% | – Hong Kong | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 3 | $ 10 |
ECL coverage | 0.00% | 0.00% |
– 76% to 90% | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 14 | $ 25 |
ECL coverage | 21.40% | 4.00% |
– 76% to 90% | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 149 | $ 89 |
ECL coverage | 6.70% | 15.70% |
– 76% to 90% | – UK | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 5 | $ 15 |
ECL coverage | 20.00% | 6.70% |
– 76% to 90% | – UK | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 139 | $ 72 |
ECL coverage | 5.80% | 4.20% |
– 76% to 90% | – Hong Kong | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 4 | $ 0 |
ECL coverage | 25.00% | 0.00% |
– 76% to 90% | – Hong Kong | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
– 91% to 100% | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 17 | $ 12 |
ECL coverage | 0.00% | 8.30% |
– 91% to 100% | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 96 | $ 291 |
ECL coverage | 8.30% | 16.50% |
– 91% to 100% | – UK | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 9 | $ 11 |
ECL coverage | 0.00% | 0.00% |
– 91% to 100% | – UK | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 25 | $ 221 |
ECL coverage | 24.00% | 19.50% |
– 91% to 100% | – Hong Kong | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
– 91% to 100% | – Hong Kong | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 6 | $ 1 |
ECL coverage | 16.70% | 100.00% |
Report Of The Directors Fina_21
Report Of The Directors Financial Review Risk Report - Wholesale lending: other corporate, commercial and financial (non-bank) loans and advances including loan commitments by level of collateral for key countries/territories (by stage) (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Wholesale | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 18,303 | $ 11,434 |
ECL coverage | 31.40% | 31.30% |
Wholesale | Loans and advances to customers and banks | – UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 5,254 | $ 3,571 |
ECL coverage | 21.20% | 23.70% |
Wholesale | Loans and advances to customers and banks | – Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,990 | $ 808 |
ECL coverage | 40.20% | 63.40% |
IFRS 9 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 2,569,144 | $ 2,340,873 |
IFRS 9 | Wholesale | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 967,469 | $ 960,350 |
ECL coverage | 1.00% | 0.50% |
IFRS 9 | Wholesale | Loans and advances to customers and banks | – UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 212,327 | $ 201,315 |
ECL coverage | 1.30% | 0.70% |
IFRS 9 | Wholesale | Loans and advances to customers and banks | – Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 194,635 | $ 200,251 |
ECL coverage | 0.60% | 0.40% |
IFRS 9 | Wholesale | Non-credit impaired | 12-month expected credit losses | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 781,012 | $ 861,259 |
Collateral value | $ 25,903 | $ 25,824 |
ECL coverage | 0.20% | 0.10% |
IFRS 9 | Wholesale | Non-credit impaired | 12-month expected credit losses | Loans and advances to customers and banks | – UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 157,612 | $ 180,491 |
Collateral value | $ 3,524 | $ 3,809 |
ECL coverage | 0.40% | 0.20% |
IFRS 9 | Wholesale | Non-credit impaired | 12-month expected credit losses | Loans and advances to customers and banks | – Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 154,431 | $ 169,516 |
Collateral value | $ 9,208 | $ 9,616 |
ECL coverage | 0.10% | 0.00% |
IFRS 9 | Wholesale | Non-credit impaired | 12-month expected credit losses | Not collateralised | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 617,592 | $ 680,079 |
ECL coverage | 0.20% | 0.10% |
IFRS 9 | Wholesale | Non-credit impaired | 12-month expected credit losses | Not collateralised | Loans and advances to customers and banks | – UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 122,554 | $ 132,197 |
ECL coverage | 0.40% | 0.20% |
IFRS 9 | Wholesale | Non-credit impaired | 12-month expected credit losses | Not collateralised | Loans and advances to customers and banks | – Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 95,061 | $ 116,536 |
ECL coverage | 0.10% | 0.00% |
IFRS 9 | Wholesale | Non-credit impaired | 12-month expected credit losses | Fully collateralised | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 110,528 | $ 128,290 |
ECL coverage | 0.20% | 0.10% |
IFRS 9 | Wholesale | Non-credit impaired | 12-month expected credit losses | Fully collateralised | Loans and advances to customers and banks | – UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 28,232 | $ 40,172 |
ECL coverage | 0.30% | 0.10% |
IFRS 9 | Wholesale | Non-credit impaired | 12-month expected credit losses | Fully collateralised | Loans and advances to customers and banks | – Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 40,207 | $ 32,818 |
ECL coverage | 0.10% | 0.10% |
IFRS 9 | Wholesale | Non-credit impaired | 12-month expected credit losses | Partially collateralised | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 52,892 | $ 52,890 |
ECL coverage | 0.20% | 0.10% |
IFRS 9 | Wholesale | Non-credit impaired | 12-month expected credit losses | Partially collateralised | Loans and advances to customers and banks | – UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 6,826 | $ 8,122 |
ECL coverage | 0.50% | 0.10% |
IFRS 9 | Wholesale | Non-credit impaired | 12-month expected credit losses | Partially collateralised | Loans and advances to customers and banks | – Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 19,163 | $ 20,162 |
ECL coverage | 0.10% | 0.10% |
IFRS 9 | Wholesale | Non-credit impaired | 12-month expected credit losses | – less than 50% | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 37,991 | $ 48,012 |
ECL coverage | 0.10% | 0.10% |
IFRS 9 | Wholesale | Non-credit impaired | 12-month expected credit losses | – less than 50% | Loans and advances to customers and banks | – UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 7,367 | $ 13,831 |
ECL coverage | 0.30% | 0.10% |
IFRS 9 | Wholesale | Non-credit impaired | 12-month expected credit losses | – less than 50% | Loans and advances to customers and banks | – Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 14,744 | $ 11,009 |
ECL coverage | 0.10% | 0.10% |
IFRS 9 | Wholesale | Non-credit impaired | 12-month expected credit losses | – 51% to 75% | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 36,696 | $ 37,891 |
ECL coverage | 0.20% | 0.10% |
IFRS 9 | Wholesale | Non-credit impaired | 12-month expected credit losses | – 51% to 75% | Loans and advances to customers and banks | – UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 11,891 | $ 11,903 |
ECL coverage | 0.30% | 0.20% |
IFRS 9 | Wholesale | Non-credit impaired | 12-month expected credit losses | – 51% to 75% | Loans and advances to customers and banks | – Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 13,961 | $ 12,783 |
ECL coverage | 0.20% | 0.10% |
IFRS 9 | Wholesale | Non-credit impaired | 12-month expected credit losses | – 76% to 90% | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 13,542 | $ 13,072 |
ECL coverage | 0.20% | 0.10% |
IFRS 9 | Wholesale | Non-credit impaired | 12-month expected credit losses | – 76% to 90% | Loans and advances to customers and banks | – UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 2,624 | $ 3,399 |
ECL coverage | 0.40% | 0.20% |
IFRS 9 | Wholesale | Non-credit impaired | 12-month expected credit losses | – 76% to 90% | Loans and advances to customers and banks | – Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 6,522 | $ 4,697 |
ECL coverage | 0.10% | 0.10% |
IFRS 9 | Wholesale | Non-credit impaired | 12-month expected credit losses | – 91% to 100% | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 22,299 | $ 29,315 |
ECL coverage | 0.10% | 0.00% |
IFRS 9 | Wholesale | Non-credit impaired | 12-month expected credit losses | – 91% to 100% | Loans and advances to customers and banks | – UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 6,350 | $ 11,039 |
ECL coverage | 0.10% | 0.00% |
IFRS 9 | Wholesale | Non-credit impaired | 12-month expected credit losses | – 91% to 100% | Loans and advances to customers and banks | – Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 4,980 | $ 4,329 |
ECL coverage | 0.10% | 0.10% |
IFRS 9 | Wholesale | Non-credit impaired | Lifetime expected credit losses | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 173,541 | $ 91,129 |
Collateral value | $ 9,425 | $ 3,669 |
ECL coverage | 1.50% | 1.10% |
IFRS 9 | Wholesale | Non-credit impaired | Lifetime expected credit losses | Loans and advances to customers and banks | – UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 50,730 | $ 17,973 |
Collateral value | $ 1,714 | $ 370 |
ECL coverage | 2.50% | 2.10% |
IFRS 9 | Wholesale | Non-credit impaired | Lifetime expected credit losses | Loans and advances to customers and banks | – Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 38,359 | $ 30,010 |
Collateral value | $ 2,104 | $ 1,801 |
ECL coverage | 0.60% | 0.60% |
IFRS 9 | Wholesale | Non-credit impaired | Lifetime expected credit losses | Not collateralised | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 118,959 | $ 61,540 |
ECL coverage | 1.60% | 1.20% |
IFRS 9 | Wholesale | Non-credit impaired | Lifetime expected credit losses | Not collateralised | Loans and advances to customers and banks | – UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 37,430 | $ 13,318 |
ECL coverage | 2.60% | 2.20% |
IFRS 9 | Wholesale | Non-credit impaired | Lifetime expected credit losses | Not collateralised | Loans and advances to customers and banks | – Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 19,466 | $ 13,308 |
ECL coverage | 0.40% | 0.70% |
IFRS 9 | Wholesale | Non-credit impaired | Lifetime expected credit losses | Fully collateralised | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 37,753 | $ 21,126 |
ECL coverage | 1.30% | 0.80% |
IFRS 9 | Wholesale | Non-credit impaired | Lifetime expected credit losses | Fully collateralised | Loans and advances to customers and banks | – UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 9,316 | $ 3,139 |
ECL coverage | 2.10% | 1.80% |
IFRS 9 | Wholesale | Non-credit impaired | Lifetime expected credit losses | Fully collateralised | Loans and advances to customers and banks | – Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 15,044 | $ 12,934 |
ECL coverage | 0.80% | 0.60% |
IFRS 9 | Wholesale | Non-credit impaired | Lifetime expected credit losses | Partially collateralised | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 16,829 | $ 8,463 |
ECL coverage | 1.50% | 0.80% |
IFRS 9 | Wholesale | Non-credit impaired | Lifetime expected credit losses | Partially collateralised | Loans and advances to customers and banks | – UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 3,984 | $ 1,516 |
ECL coverage | 2.70% | 1.40% |
IFRS 9 | Wholesale | Non-credit impaired | Lifetime expected credit losses | Partially collateralised | Loans and advances to customers and banks | – Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 3,849 | $ 3,768 |
ECL coverage | 0.90% | 0.40% |
IFRS 9 | Wholesale | Non-credit impaired | Lifetime expected credit losses | – less than 50% | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 11,992 | $ 7,081 |
ECL coverage | 1.30% | 0.90% |
IFRS 9 | Wholesale | Non-credit impaired | Lifetime expected credit losses | – less than 50% | Loans and advances to customers and banks | – UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 2,498 | $ 1,208 |
ECL coverage | 1.50% | 2.00% |
IFRS 9 | Wholesale | Non-credit impaired | Lifetime expected credit losses | – less than 50% | Loans and advances to customers and banks | – Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 3,920 | $ 3,845 |
ECL coverage | 0.70% | 0.60% |
IFRS 9 | Wholesale | Non-credit impaired | Lifetime expected credit losses | – 51% to 75% | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 16,982 | $ 8,482 |
ECL coverage | 1.60% | 0.90% |
IFRS 9 | Wholesale | Non-credit impaired | Lifetime expected credit losses | – 51% to 75% | Loans and advances to customers and banks | – UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 5,715 | $ 1,111 |
ECL coverage | 2.20% | 1.80% |
IFRS 9 | Wholesale | Non-credit impaired | Lifetime expected credit losses | – 51% to 75% | Loans and advances to customers and banks | – Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 6,657 | $ 5,580 |
ECL coverage | 1.00% | 0.70% |
IFRS 9 | Wholesale | Non-credit impaired | Lifetime expected credit losses | – 76% to 90% | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 3,727 | $ 2,684 |
ECL coverage | 1.20% | 0.90% |
IFRS 9 | Wholesale | Non-credit impaired | Lifetime expected credit losses | – 76% to 90% | Loans and advances to customers and banks | – UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 502 | $ 282 |
ECL coverage | 3.20% | 2.10% |
IFRS 9 | Wholesale | Non-credit impaired | Lifetime expected credit losses | – 76% to 90% | Loans and advances to customers and banks | – Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 2,150 | $ 1,646 |
ECL coverage | 0.70% | 0.50% |
IFRS 9 | Wholesale | Non-credit impaired | Lifetime expected credit losses | – 91% to 100% | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 5,052 | $ 2,879 |
ECL coverage | 0.90% | 0.60% |
IFRS 9 | Wholesale | Non-credit impaired | Lifetime expected credit losses | – 91% to 100% | Loans and advances to customers and banks | – UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 601 | $ 538 |
ECL coverage | 2.00% | 1.30% |
IFRS 9 | Wholesale | Non-credit impaired | Lifetime expected credit losses | – 91% to 100% | Loans and advances to customers and banks | – Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 2,317 | $ 1,863 |
ECL coverage | 0.30% | 0.20% |
IFRS 9 | Wholesale | Credit impaired | Lifetime expected credit losses | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 12,638 | $ 7,614 |
Collateral value | $ 1,619 | $ 693 |
ECL coverage | 41.70% | 43.20% |
IFRS 9 | Wholesale | Credit impaired | Lifetime expected credit losses | Loans and advances to customers and banks | – UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 3,931 | $ 2,762 |
Collateral value | $ 337 | $ 192 |
ECL coverage | 24.70% | 27.60% |
IFRS 9 | Wholesale | Credit impaired | Lifetime expected credit losses | Loans and advances to customers and banks | – Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,799 | $ 677 |
Collateral value | $ 322 | $ 34 |
ECL coverage | 41.60% | 70.00% |
IFRS 9 | Wholesale | Credit impaired | Lifetime expected credit losses | Not collateralised | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 7,852 | $ 4,768 |
ECL coverage | 50.00% | 49.20% |
IFRS 9 | Wholesale | Credit impaired | Lifetime expected credit losses | Not collateralised | Loans and advances to customers and banks | – UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 2,793 | $ 1,899 |
ECL coverage | 28.50% | 33.00% |
IFRS 9 | Wholesale | Credit impaired | Lifetime expected credit losses | Not collateralised | Loans and advances to customers and banks | – Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 865 | $ 504 |
ECL coverage | 66.00% | 83.50% |
IFRS 9 | Wholesale | Credit impaired | Lifetime expected credit losses | Fully collateralised | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,939 | $ 1,479 |
ECL coverage | 17.30% | 22.40% |
IFRS 9 | Wholesale | Credit impaired | Lifetime expected credit losses | Fully collateralised | Loans and advances to customers and banks | – UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 585 | $ 494 |
ECL coverage | 7.90% | 12.60% |
IFRS 9 | Wholesale | Credit impaired | Lifetime expected credit losses | Fully collateralised | Loans and advances to customers and banks | – Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 342 | $ 86 |
ECL coverage | 6.40% | 12.80% |
IFRS 9 | Wholesale | Credit impaired | Lifetime expected credit losses | Partially collateralised | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 2,847 | $ 1,367 |
ECL coverage | 35.50% | 44.80% |
IFRS 9 | Wholesale | Credit impaired | Lifetime expected credit losses | Partially collateralised | Loans and advances to customers and banks | – UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 553 | $ 369 |
ECL coverage | 23.10% | 20.10% |
IFRS 9 | Wholesale | Credit impaired | Lifetime expected credit losses | Partially collateralised | Loans and advances to customers and banks | – Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 592 | $ 87 |
ECL coverage | 26.40% | 48.30% |
IFRS 9 | Wholesale | Credit impaired | Lifetime expected credit losses | – less than 50% | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 637 | $ 335 |
ECL coverage | 24.00% | 35.20% |
IFRS 9 | Wholesale | Credit impaired | Lifetime expected credit losses | – less than 50% | Loans and advances to customers and banks | – UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 151 | $ 103 |
ECL coverage | 8.60% | 17.50% |
IFRS 9 | Wholesale | Credit impaired | Lifetime expected credit losses | – less than 50% | Loans and advances to customers and banks | – Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 83 | $ 9 |
ECL coverage | 6.00% | 33.30% |
IFRS 9 | Wholesale | Credit impaired | Lifetime expected credit losses | – 51% to 75% | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 526 | $ 352 |
ECL coverage | 19.00% | 24.40% |
IFRS 9 | Wholesale | Credit impaired | Lifetime expected credit losses | – 51% to 75% | Loans and advances to customers and banks | – UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 182 | $ 198 |
ECL coverage | 12.60% | 8.60% |
IFRS 9 | Wholesale | Credit impaired | Lifetime expected credit losses | – 51% to 75% | Loans and advances to customers and banks | – Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 128 | $ 21 |
ECL coverage | 4.70% | 4.80% |
IFRS 9 | Wholesale | Credit impaired | Lifetime expected credit losses | – 76% to 90% | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 294 | $ 373 |
ECL coverage | 9.20% | 23.60% |
IFRS 9 | Wholesale | Credit impaired | Lifetime expected credit losses | – 76% to 90% | Loans and advances to customers and banks | – UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 211 | $ 101 |
ECL coverage | 1.90% | 20.80% |
IFRS 9 | Wholesale | Credit impaired | Lifetime expected credit losses | – 76% to 90% | Loans and advances to customers and banks | – Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 49 | $ 40 |
ECL coverage | 14.30% | 7.50% |
IFRS 9 | Wholesale | Credit impaired | Lifetime expected credit losses | – 91% to 100% | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 482 | $ 419 |
ECL coverage | 11.60% | 9.10% |
IFRS 9 | Wholesale | Credit impaired | Lifetime expected credit losses | – 91% to 100% | Loans and advances to customers and banks | – UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 41 | $ 92 |
ECL coverage | 14.60% | 7.60% |
IFRS 9 | Wholesale | Credit impaired | Lifetime expected credit losses | – 91% to 100% | Loans and advances to customers and banks | – Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 82 | $ 16 |
ECL coverage | 4.90% | 25.00% |
IFRS 9 | Wholesale | POCI | Lifetime expected credit losses | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 278 | $ 348 |
Collateral value | $ 4 | $ 57 |
ECL coverage | 40.60% | 30.50% |
IFRS 9 | Wholesale | POCI | Lifetime expected credit losses | Loans and advances to customers and banks | – UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 54 | $ 89 |
Collateral value | $ 0 | $ 19 |
ECL coverage | 63.00% | 36.00% |
IFRS 9 | Wholesale | POCI | Lifetime expected credit losses | Loans and advances to customers and banks | – Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 46 | $ 48 |
Collateral value | $ 0 | $ 30 |
ECL coverage | 50.00% | 58.30% |
IFRS 9 | Wholesale | POCI | Lifetime expected credit losses | Not collateralised | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 211 | $ 223 |
ECL coverage | 39.80% | 32.70% |
IFRS 9 | Wholesale | POCI | Lifetime expected credit losses | Not collateralised | Loans and advances to customers and banks | – UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 54 | $ 32 |
ECL coverage | 63.00% | 96.90% |
IFRS 9 | Wholesale | POCI | Lifetime expected credit losses | Not collateralised | Loans and advances to customers and banks | – Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1 | $ 7 |
ECL coverage | 0.00% | 0.00% |
IFRS 9 | Wholesale | POCI | Lifetime expected credit losses | Fully collateralised | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 63 | $ 28 |
ECL coverage | 41.30% | 3.60% |
IFRS 9 | Wholesale | POCI | Lifetime expected credit losses | Fully collateralised | Loans and advances to customers and banks | – UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
IFRS 9 | Wholesale | POCI | Lifetime expected credit losses | Fully collateralised | Loans and advances to customers and banks | – Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 45 | $ 10 |
ECL coverage | 51.10% | 0.00% |
IFRS 9 | Wholesale | POCI | Lifetime expected credit losses | Partially collateralised | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 4 | $ 97 |
ECL coverage | 75.00% | 33.00% |
IFRS 9 | Wholesale | POCI | Lifetime expected credit losses | Partially collateralised | Loans and advances to customers and banks | – UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 57 |
ECL coverage | 0.00% | 1.80% |
IFRS 9 | Wholesale | POCI | Lifetime expected credit losses | Partially collateralised | Loans and advances to customers and banks | – Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 31 |
ECL coverage | 0.00% | 90.30% |
IFRS 9 | Wholesale | POCI | Lifetime expected credit losses | – less than 50% | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 6 | $ 2 |
ECL coverage | 50.00% | 50.00% |
IFRS 9 | Wholesale | POCI | Lifetime expected credit losses | – less than 50% | Loans and advances to customers and banks | – UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
IFRS 9 | Wholesale | POCI | Lifetime expected credit losses | – less than 50% | Loans and advances to customers and banks | – Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
IFRS 9 | Wholesale | POCI | Lifetime expected credit losses | – 51% to 75% | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 11 | $ 26 |
ECL coverage | 9.10% | 0.00% |
IFRS 9 | Wholesale | POCI | Lifetime expected credit losses | – 51% to 75% | Loans and advances to customers and banks | – UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
IFRS 9 | Wholesale | POCI | Lifetime expected credit losses | – 51% to 75% | Loans and advances to customers and banks | – Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 11 | $ 10 |
ECL coverage | 9.10% | 0.00% |
IFRS 9 | Wholesale | POCI | Lifetime expected credit losses | – 76% to 90% | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 34 | $ 0 |
ECL coverage | 64.70% | 0.00% |
IFRS 9 | Wholesale | POCI | Lifetime expected credit losses | – 76% to 90% | Loans and advances to customers and banks | – UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
IFRS 9 | Wholesale | POCI | Lifetime expected credit losses | – 76% to 90% | Loans and advances to customers and banks | – Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 34 | $ 0 |
ECL coverage | 64.70% | 0.00% |
IFRS 9 | Wholesale | POCI | Lifetime expected credit losses | – 91% to 100% | Loans and advances to customers and banks | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 12 | $ 0 |
ECL coverage | 0.00% | 0.00% |
IFRS 9 | Wholesale | POCI | Lifetime expected credit losses | – 91% to 100% | Loans and advances to customers and banks | – UK | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
IFRS 9 | Wholesale | POCI | Lifetime expected credit losses | – 91% to 100% | Loans and advances to customers and banks | – Hong Kong | Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Report Of The Directors Fina_22
Report Of The Directors Financial Review Risk Report - Wholesale lending: other corporate, commercial and financial (non-bank) loans and advances including loan commitments by level of collateral for key countries/territories (Details) - Wholesale - Other corporate, commerical, and non-bank financial institutions loans and advances including loan commitments - Loans and advances to customers and banks - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 18,303 | $ 11,434 |
ECL coverage | 31.40% | 31.30% |
Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 5,387 | $ 3,472 |
Collateral value | $ 352 | $ 152 |
ECL coverage | 6.80% | 5.20% |
Rated CRR/PD8 | Not collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 3,787 | $ 2,499 |
ECL coverage | 7.10% | 5.80% |
Rated CRR/PD8 | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,107 | $ 694 |
ECL coverage | 5.20% | 3.30% |
Rated CRR/PD8 | Partially collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 493 | $ 279 |
ECL coverage | 8.10% | 4.70% |
Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 12,916 | $ 7,962 |
Collateral value | $ 1,623 | $ 750 |
ECL coverage | 41.70% | 42.70% |
Rated CRR/PD9 to 10 | Not collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 8,062 | $ 4,991 |
ECL coverage | 49.70% | 48.50% |
Rated CRR/PD9 to 10 | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 2,003 | $ 1,507 |
ECL coverage | 18.10% | 22.00% |
Rated CRR/PD9 to 10 | Partially collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 2,851 | $ 1,464 |
ECL coverage | 35.60% | 44.00% |
– UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 5,254 | $ 3,571 |
ECL coverage | 21.20% | 23.70% |
– UK | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,269 | $ 720 |
Collateral value | $ 83 | $ 34 |
ECL coverage | 8.70% | 6.90% |
– UK | Rated CRR/PD8 | Not collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 924 | $ 285 |
ECL coverage | 8.70% | 13.00% |
– UK | Rated CRR/PD8 | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 171 | $ 382 |
ECL coverage | 9.40% | 2.60% |
– UK | Rated CRR/PD8 | Partially collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 174 | $ 53 |
ECL coverage | 9.20% | 5.70% |
– UK | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 3,985 | $ 2,851 |
Collateral value | $ 337 | $ 211 |
ECL coverage | 25.20% | 27.90% |
– UK | Rated CRR/PD9 to 10 | Not collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 2,847 | $ 1,930 |
ECL coverage | 29.10% | 34.10% |
– UK | Rated CRR/PD9 to 10 | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 585 | $ 494 |
ECL coverage | 7.90% | 12.60% |
– UK | Rated CRR/PD9 to 10 | Partially collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 553 | $ 427 |
ECL coverage | 23.10% | 17.60% |
– Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,990 | $ 808 |
ECL coverage | 40.20% | 63.40% |
– Hong Kong | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 145 | $ 83 |
Collateral value | $ 13 | $ 6 |
ECL coverage | 18.60% | 12.00% |
– Hong Kong | Rated CRR/PD8 | Not collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 103 | $ 10 |
ECL coverage | 25.20% | 70.00% |
– Hong Kong | Rated CRR/PD8 | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 15 | $ 0 |
ECL coverage | 0.00% | 0.00% |
– Hong Kong | Rated CRR/PD8 | Partially collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 27 | $ 73 |
ECL coverage | 3.70% | 2.70% |
– Hong Kong | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,845 | $ 725 |
Collateral value | $ 322 | $ 64 |
ECL coverage | 41.80% | 69.20% |
– Hong Kong | Rated CRR/PD9 to 10 | Not collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 865 | $ 510 |
ECL coverage | 66.00% | 82.50% |
– Hong Kong | Rated CRR/PD9 to 10 | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 388 | $ 96 |
ECL coverage | 11.60% | 11.50% |
– Hong Kong | Rated CRR/PD9 to 10 | Partially collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 592 | $ 119 |
ECL coverage | 26.40% | 58.80% |
– less than 50% | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 269 | $ 246 |
ECL coverage | 4.10% | 2.80% |
– less than 50% | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 644 | $ 338 |
ECL coverage | 24.20% | 35.20% |
– less than 50% | – UK | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 29 | $ 120 |
ECL coverage | 10.30% | 1.70% |
– less than 50% | – UK | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 151 | $ 103 |
ECL coverage | 8.60% | 17.50% |
– less than 50% | – Hong Kong | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1 | $ 0 |
ECL coverage | 0.00% | 0.00% |
– less than 50% | – Hong Kong | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 84 | $ 10 |
ECL coverage | 6.00% | 0.00% |
– 51% to 75% | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 480 | $ 189 |
ECL coverage | 6.30% | 4.20% |
– 51% to 75% | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 538 | $ 377 |
ECL coverage | 18.80% | 22.80% |
– 51% to 75% | – UK | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 87 | $ 93 |
ECL coverage | 6.90% | 3.20% |
– 51% to 75% | – UK | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 182 | $ 198 |
ECL coverage | 12.60% | 8.60% |
– 51% to 75% | – Hong Kong | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
– 51% to 75% | – Hong Kong | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 139 | $ 30 |
ECL coverage | 5.00% | 3.30% |
– 76% to 90% | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 140 | $ 97 |
ECL coverage | 5.00% | 2.10% |
– 76% to 90% | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 327 | $ 373 |
ECL coverage | 15.00% | 23.60% |
– 76% to 90% | – UK | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 13 | $ 42 |
ECL coverage | 23.10% | 2.40% |
– 76% to 90% | – UK | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 211 | $ 101 |
ECL coverage | 1.90% | 20.80% |
– 76% to 90% | – Hong Kong | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 14 | $ 0 |
ECL coverage | 0.00% | 0.00% |
– 76% to 90% | – Hong Kong | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 83 | $ 40 |
ECL coverage | 34.90% | 7.50% |
– 91% to 100% | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 218 | $ 162 |
ECL coverage | 4.10% | 3.70% |
– 91% to 100% | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 494 | $ 419 |
ECL coverage | 11.30% | 9.10% |
– 91% to 100% | – UK | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 42 | $ 127 |
ECL coverage | 9.50% | 3.90% |
– 91% to 100% | – UK | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 41 | $ 92 |
ECL coverage | 14.60% | 7.60% |
– 91% to 100% | – Hong Kong | Rated CRR/PD8 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
– 91% to 100% | – Hong Kong | Rated CRR/PD9 to 10 | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 82 | $ 16 |
ECL coverage | 4.90% | 0.00% |
Report Of The Directors Fina_23
Report Of The Directors Financial Review Risk Report - Personal lending: reconciliation of changes in gross carrying/nominal amount and allowances for loans and advances to banks and customers including loan commitments and financial guarantees (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | $ 2,621,427 | |
Financial assets, ending balance | 2,880,751 | $ 2,621,427 |
Personal Lending Sector | Gross carrying/nominal amount | Loans and advances to customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 658,389 | 602,615 |
Net new and further lending/repayments | 24,807 | 47,840 |
Assets written off | (1,409) | (1,345) |
Foreign exchange and other | 16,091 | 9,279 |
Financial assets, ending balance | 697,878 | 658,389 |
Personal Lending Sector | Gross carrying/nominal amount | 12-month expected credit losses | Non-credit impaired | Loans and advances to customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 635,961 | 580,784 |
Transfers of financial instruments | (16,019) | (4,751) |
Net new and further lending/repayments | 30,891 | 50,946 |
Foreign exchange and other | 14,513 | 8,982 |
Financial assets, ending balance | 665,346 | 635,961 |
Personal Lending Sector | Gross carrying/nominal amount | Lifetime expected credit losses | Non-credit impaired | Loans and advances to customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 17,382 | 16,838 |
Transfers of financial instruments | 13,370 | 2,645 |
Net new and further lending/repayments | (5,407) | (2,348) |
Foreign exchange and other | 1,425 | 247 |
Financial assets, ending balance | 26,770 | 17,382 |
Personal Lending Sector | Gross carrying/nominal amount | Lifetime expected credit losses | Credit impaired | Loans and advances to customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | 5,046 | 4,993 |
Transfers of financial instruments | 2,649 | 2,106 |
Net new and further lending/repayments | (677) | (758) |
Assets written off | (1,409) | (1,345) |
Foreign exchange and other | 153 | 50 |
Financial assets, ending balance | 5,762 | 5,046 |
Personal Lending Sector | Allowance for ECL | Loans and advances to customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (3,150) | (2,961) |
Net remeasurement of ECL arising from transfer of stage | (132) | (38) |
Net new and further lending/repayments | 659 | 737 |
Changes to risk parameters – credit quality | (3,430) | (2,305) |
Changes to models used for ECL calculation | (7) | 68 |
Assets written off | 1,407 | 1,345 |
Foreign exchange and other | (121) | 4 |
Financial assets, ending balance | (4,774) | (3,150) |
ECL income statement change for the period | (2,910) | (1,538) |
Recoveries | 280 | 314 |
Others | (25) | 4 |
Total ECL income statement change for the period | (2,655) | (1,220) |
Personal Lending Sector | Allowance for ECL | 12-month expected credit losses | Non-credit impaired | Loans and advances to customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (597) | (547) |
Transfers of financial instruments | (629) | (374) |
Net remeasurement of ECL arising from transfer of stage | 431 | 446 |
Net new and further lending/repayments | 101 | 3 |
Changes to risk parameters – credit quality | (147) | (100) |
Changes to models used for ECL calculation | (3) | (6) |
Foreign exchange and other | (22) | (19) |
Financial assets, ending balance | (866) | (597) |
ECL income statement change for the period | 382 | 343 |
Personal Lending Sector | Allowance for ECL | Lifetime expected credit losses | Non-credit impaired | Loans and advances to customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (1,338) | (1,266) |
Transfers of financial instruments | 1,181 | 858 |
Net remeasurement of ECL arising from transfer of stage | (555) | (408) |
Net new and further lending/repayments | 408 | 453 |
Changes to risk parameters – credit quality | (2,025) | (1,015) |
Changes to models used for ECL calculation | (9) | 60 |
Foreign exchange and other | (67) | (20) |
Financial assets, ending balance | (2,405) | (1,338) |
ECL income statement change for the period | (2,181) | (910) |
Personal Lending Sector | Allowance for ECL | Lifetime expected credit losses | Credit impaired | Loans and advances to customers, including loan commitments and financial guarantees | ||
Increase (decrease) in financial assets [abstract] | ||
Financial assets, beginning balance | (1,215) | (1,148) |
Transfers of financial instruments | (552) | (484) |
Net remeasurement of ECL arising from transfer of stage | (8) | (76) |
Net new and further lending/repayments | 150 | 281 |
Changes to risk parameters – credit quality | (1,258) | (1,190) |
Changes to models used for ECL calculation | 5 | 14 |
Assets written off | 1,407 | 1,345 |
Foreign exchange and other | (32) | 43 |
Financial assets, ending balance | (1,503) | (1,215) |
ECL income statement change for the period | $ (1,111) | $ (971) |
Report Of The Directors Fina_24
Report Of The Directors Financial Review Risk Report - Personal lending: residential mortgage loans including loan commitments by level of collateral for key countries/territories (by stage) (Details) - Personal Lending Sector - Loans and advances to customers at amortised cost - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 370,791 | $ 338,153 |
ECL coverage | 0.20% | 0.20% |
– UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 165,151 | $ 147,264 |
ECL coverage | 0.10% | 0.10% |
– Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 92,943 | $ 87,494 |
ECL coverage | 0.00% | 0.00% |
Non-credit impaired | 12-month expected credit losses | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 355,075 | $ 327,894 |
Collateral value | $ 847 | $ 1,232 |
ECL coverage | 0.00% | 0.00% |
Non-credit impaired | 12-month expected credit losses | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 159,851 | $ 144,098 |
Collateral value | $ 212 | $ 232 |
ECL coverage | 0.00% | 0.00% |
Non-credit impaired | 12-month expected credit losses | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 91,069 | $ 86,333 |
Collateral value | $ 328 | $ 279 |
ECL coverage | 0.00% | 0.00% |
Non-credit impaired | 12-month expected credit losses | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 354,102 | $ 326,510 |
ECL coverage | 0.00% | 0.00% |
Non-credit impaired | 12-month expected credit losses | Fully collateralised | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 159,562 | $ 143,772 |
ECL coverage | 0.00% | 0.00% |
Non-credit impaired | 12-month expected credit losses | Fully collateralised | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 90,733 | $ 86,049 |
ECL coverage | 0.00% | 0.00% |
Non-credit impaired | 12-month expected credit losses | Partially collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 973 | $ 1,384 |
ECL coverage | 0.40% | 0.10% |
Non-credit impaired | 12-month expected credit losses | Partially collateralised | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 289 | $ 326 |
ECL coverage | 0.00% | 0.00% |
Non-credit impaired | 12-month expected credit losses | Partially collateralised | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 336 | $ 284 |
ECL coverage | 0.00% | 0.00% |
Non-credit impaired | 12-month expected credit losses | – less than 50% | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 174,370 | $ 168,923 |
ECL coverage | 0.00% | 0.00% |
Non-credit impaired | 12-month expected credit losses | – less than 50% | Fully collateralised | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 76,535 | $ 70,315 |
ECL coverage | 0.00% | 0.00% |
Non-credit impaired | 12-month expected credit losses | – less than 50% | Fully collateralised | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 54,866 | $ 57,043 |
ECL coverage | 0.00% | 0.00% |
Non-credit impaired | 12-month expected credit losses | – 51% to 60% | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 60,180 | $ 55,287 |
ECL coverage | 0.00% | 0.00% |
Non-credit impaired | 12-month expected credit losses | – 51% to 60% | Fully collateralised | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 23,967 | $ 21,898 |
ECL coverage | 0.00% | 0.00% |
Non-credit impaired | 12-month expected credit losses | – 51% to 60% | Fully collateralised | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 14,253 | $ 13,169 |
ECL coverage | 0.00% | 0.00% |
Non-credit impaired | 12-month expected credit losses | – 61% to 70% | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 48,159 | $ 44,208 |
ECL coverage | 0.00% | 0.00% |
Non-credit impaired | 12-month expected credit losses | – 61% to 70% | Fully collateralised | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 23,381 | $ 19,903 |
ECL coverage | 0.00% | 0.00% |
Non-credit impaired | 12-month expected credit losses | – 61% to 70% | Fully collateralised | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 6,042 | $ 6,478 |
ECL coverage | 0.00% | 0.00% |
Non-credit impaired | 12-month expected credit losses | – 71% to 80% | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 40,395 | $ 33,049 |
ECL coverage | 0.10% | 0.00% |
Non-credit impaired | 12-month expected credit losses | – 71% to 80% | Fully collateralised | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 20,846 | $ 17,649 |
ECL coverage | 0.00% | 0.00% |
Non-credit impaired | 12-month expected credit losses | – 71% to 80% | Fully collateralised | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 4,288 | $ 3,195 |
ECL coverage | 0.00% | 0.00% |
Non-credit impaired | 12-month expected credit losses | – 81% to 90% | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 23,339 | $ 18,157 |
ECL coverage | 0.10% | 0.00% |
Non-credit impaired | 12-month expected credit losses | – 81% to 90% | Fully collateralised | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 12,936 | $ 11,127 |
ECL coverage | 0.00% | 0.00% |
Non-credit impaired | 12-month expected credit losses | – 81% to 90% | Fully collateralised | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 6,837 | $ 3,685 |
ECL coverage | 0.00% | 0.00% |
Non-credit impaired | 12-month expected credit losses | – 91% to 100% | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 7,659 | $ 6,886 |
ECL coverage | 0.10% | 0.00% |
Non-credit impaired | 12-month expected credit losses | – 91% to 100% | Fully collateralised | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,897 | $ 2,880 |
ECL coverage | 0.10% | 0.00% |
Non-credit impaired | 12-month expected credit losses | – 91% to 100% | Fully collateralised | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 4,447 | $ 2,479 |
ECL coverage | 0.00% | 0.00% |
Non-credit impaired | 12-month expected credit losses | – 101% to 110% | Partially collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 592 | $ 843 |
ECL coverage | 0.40% | 0.10% |
Non-credit impaired | 12-month expected credit losses | – 101% to 110% | Partially collateralised | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 84 | $ 89 |
ECL coverage | 0.00% | 0.00% |
Non-credit impaired | 12-month expected credit losses | – 101% to 110% | Partially collateralised | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 334 | $ 281 |
ECL coverage | 0.00% | 0.00% |
Non-credit impaired | 12-month expected credit losses | – 111% to 120% | Partially collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 101 | $ 195 |
ECL coverage | 0.50% | 0.20% |
Non-credit impaired | 12-month expected credit losses | – 111% to 120% | Partially collateralised | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 45 | $ 48 |
ECL coverage | 0.00% | 0.00% |
Non-credit impaired | 12-month expected credit losses | – 111% to 120% | Partially collateralised | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 1 |
ECL coverage | 0.00% | 0.00% |
Non-credit impaired | 12-month expected credit losses | – greater than 120% | Partially collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 280 | $ 346 |
ECL coverage | 0.30% | 0.10% |
Non-credit impaired | 12-month expected credit losses | – greater than 120% | Partially collateralised | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 160 | $ 189 |
ECL coverage | 0.00% | 0.00% |
Non-credit impaired | 12-month expected credit losses | – greater than 120% | Partially collateralised | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 2 | $ 2 |
ECL coverage | 0.00% | 0.00% |
Non-credit impaired | Lifetime expected credit losses | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 12,305 | $ 7,163 |
Collateral value | $ 47 | $ 69 |
ECL coverage | 1.50% | 1.00% |
Non-credit impaired | Lifetime expected credit losses | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 4,233 | $ 1,964 |
Collateral value | $ 4 | $ 20 |
ECL coverage | 1.40% | 1.00% |
Non-credit impaired | Lifetime expected credit losses | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,811 | $ 1,117 |
Collateral value | $ 9 | $ 1 |
ECL coverage | 0.00% | 0.00% |
Non-credit impaired | Lifetime expected credit losses | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 12,252 | $ 7,087 |
ECL coverage | 1.50% | 0.90% |
Non-credit impaired | Lifetime expected credit losses | Fully collateralised | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 4,229 | $ 1,941 |
ECL coverage | 1.40% | 1.00% |
Non-credit impaired | Lifetime expected credit losses | Fully collateralised | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,802 | $ 1,116 |
ECL coverage | 0.00% | 0.00% |
Non-credit impaired | Lifetime expected credit losses | Partially collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 53 | $ 76 |
ECL coverage | 13.60% | 7.20% |
Non-credit impaired | Lifetime expected credit losses | Partially collateralised | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 4 | $ 23 |
ECL coverage | 3.30% | 1.80% |
Non-credit impaired | Lifetime expected credit losses | Partially collateralised | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 9 | $ 1 |
ECL coverage | 0.00% | 0.00% |
Non-credit impaired | Lifetime expected credit losses | – less than 50% | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 6,694 | $ 3,781 |
ECL coverage | 1.10% | 0.50% |
Non-credit impaired | Lifetime expected credit losses | – less than 50% | Fully collateralised | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 2,442 | $ 1,146 |
ECL coverage | 1.20% | 0.70% |
Non-credit impaired | Lifetime expected credit losses | – less than 50% | Fully collateralised | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,256 | $ 892 |
ECL coverage | 0.00% | 0.00% |
Non-credit impaired | Lifetime expected credit losses | – 51% to 60% | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 2,223 | $ 923 |
ECL coverage | 1.10% | 1.10% |
Non-credit impaired | Lifetime expected credit losses | – 51% to 60% | Fully collateralised | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 730 | $ 233 |
ECL coverage | 1.30% | 1.50% |
Non-credit impaired | Lifetime expected credit losses | – 51% to 60% | Fully collateralised | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 253 | $ 95 |
ECL coverage | 0.00% | 0.00% |
Non-credit impaired | Lifetime expected credit losses | – 61% to 70% | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,779 | $ 909 |
ECL coverage | 1.60% | 1.20% |
Non-credit impaired | Lifetime expected credit losses | – 61% to 70% | Fully collateralised | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 606 | $ 262 |
ECL coverage | 1.30% | 1.20% |
Non-credit impaired | Lifetime expected credit losses | – 61% to 70% | Fully collateralised | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 83 | $ 59 |
ECL coverage | 0.00% | 0.00% |
Non-credit impaired | Lifetime expected credit losses | – 71% to 80% | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 987 | $ 894 |
ECL coverage | 2.80% | 1.10% |
Non-credit impaired | Lifetime expected credit losses | – 71% to 80% | Fully collateralised | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 244 | $ 231 |
ECL coverage | 2.90% | 1.00% |
Non-credit impaired | Lifetime expected credit losses | – 71% to 80% | Fully collateralised | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 111 | $ 32 |
ECL coverage | 0.00% | 0.00% |
Non-credit impaired | Lifetime expected credit losses | – 81% to 90% | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 400 | $ 425 |
ECL coverage | 4.90% | 1.60% |
Non-credit impaired | Lifetime expected credit losses | – 81% to 90% | Fully collateralised | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 139 | $ 36 |
ECL coverage | 3.60% | 2.90% |
Non-credit impaired | Lifetime expected credit losses | – 81% to 90% | Fully collateralised | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 60 | $ 25 |
ECL coverage | 0.00% | 0.00% |
Non-credit impaired | Lifetime expected credit losses | – 91% to 100% | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 169 | $ 155 |
ECL coverage | 5.70% | 4.40% |
Non-credit impaired | Lifetime expected credit losses | – 91% to 100% | Fully collateralised | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 68 | $ 33 |
ECL coverage | 3.30% | 1.80% |
Non-credit impaired | Lifetime expected credit losses | – 91% to 100% | Fully collateralised | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 39 | $ 13 |
ECL coverage | 0.00% | 0.00% |
Non-credit impaired | Lifetime expected credit losses | – 101% to 110% | Partially collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 28 | $ 45 |
ECL coverage | 11.90% | 5.40% |
Non-credit impaired | Lifetime expected credit losses | – 101% to 110% | Partially collateralised | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 3 | $ 20 |
ECL coverage | 1.50% | 1.50% |
Non-credit impaired | Lifetime expected credit losses | – 101% to 110% | Partially collateralised | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 9 | $ 1 |
ECL coverage | 0.00% | 0.00% |
Non-credit impaired | Lifetime expected credit losses | – 111% to 120% | Partially collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 9 | $ 10 |
ECL coverage | 16.80% | 11.10% |
Non-credit impaired | Lifetime expected credit losses | – 111% to 120% | Partially collateralised | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 1 |
ECL coverage | 0.00% | 4.80% |
Non-credit impaired | Lifetime expected credit losses | – 111% to 120% | Partially collateralised | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Non-credit impaired | Lifetime expected credit losses | – greater than 120% | Partially collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 16 | $ 21 |
ECL coverage | 14.80% | 9.00% |
Non-credit impaired | Lifetime expected credit losses | – greater than 120% | Partially collateralised | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1 | $ 2 |
ECL coverage | 8.50% | 3.00% |
Non-credit impaired | Lifetime expected credit losses | – greater than 120% | Partially collateralised | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Credit impaired | Lifetime expected credit losses | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 3,411 | $ 3,096 |
Collateral value | $ 228 | $ 305 |
ECL coverage | 13.00% | 13.70% |
Credit impaired | Lifetime expected credit losses | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,067 | $ 1,202 |
Collateral value | $ 10 | $ 24 |
ECL coverage | 12.50% | 10.30% |
Credit impaired | Lifetime expected credit losses | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 63 | $ 44 |
Collateral value | $ 1 | $ 0 |
ECL coverage | 0.00% | 0.50% |
Credit impaired | Lifetime expected credit losses | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 3,083 | $ 2,725 |
ECL coverage | 9.80% | 9.00% |
Credit impaired | Lifetime expected credit losses | Fully collateralised | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,050 | $ 1,177 |
ECL coverage | 12.30% | 9.90% |
Credit impaired | Lifetime expected credit losses | Fully collateralised | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 63 | $ 44 |
ECL coverage | 0.00% | 0.50% |
Credit impaired | Lifetime expected credit losses | Partially collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 328 | $ 371 |
ECL coverage | 42.70% | 47.60% |
Credit impaired | Lifetime expected credit losses | Partially collateralised | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 17 | $ 25 |
ECL coverage | 22.90% | 27.30% |
Credit impaired | Lifetime expected credit losses | Partially collateralised | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Credit impaired | Lifetime expected credit losses | – less than 50% | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 1,472 | $ 1,337 |
ECL coverage | 8.00% | 7.10% |
Credit impaired | Lifetime expected credit losses | – less than 50% | Fully collateralised | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 676 | $ 711 |
ECL coverage | 10.90% | 7.80% |
Credit impaired | Lifetime expected credit losses | – less than 50% | Fully collateralised | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 53 | $ 39 |
ECL coverage | 0.00% | 0.50% |
Credit impaired | Lifetime expected credit losses | – 51% to 60% | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 505 | $ 410 |
ECL coverage | 8.70% | 7.00% |
Credit impaired | Lifetime expected credit losses | – 51% to 60% | Fully collateralised | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 144 | $ 159 |
ECL coverage | 15.10% | 10.00% |
Credit impaired | Lifetime expected credit losses | – 51% to 60% | Fully collateralised | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 6 | $ 3 |
ECL coverage | 0.00% | 0.20% |
Credit impaired | Lifetime expected credit losses | – 61% to 70% | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 435 | $ 358 |
ECL coverage | 9.20% | 7.90% |
Credit impaired | Lifetime expected credit losses | – 61% to 70% | Fully collateralised | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 112 | $ 136 |
ECL coverage | 12.90% | 10.60% |
Credit impaired | Lifetime expected credit losses | – 61% to 70% | Fully collateralised | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Credit impaired | Lifetime expected credit losses | – 71% to 80% | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 378 | $ 309 |
ECL coverage | 11.50% | 13.40% |
Credit impaired | Lifetime expected credit losses | – 71% to 80% | Fully collateralised | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 81 | $ 100 |
ECL coverage | 13.70% | 18.90% |
Credit impaired | Lifetime expected credit losses | – 71% to 80% | Fully collateralised | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 2 | $ 1 |
ECL coverage | 0.00% | 0.00% |
Credit impaired | Lifetime expected credit losses | – 81% to 90% | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 195 | $ 178 |
ECL coverage | 17.30% | 13.80% |
Credit impaired | Lifetime expected credit losses | – 81% to 90% | Fully collateralised | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 28 | $ 47 |
ECL coverage | 22.40% | 12.30% |
Credit impaired | Lifetime expected credit losses | – 81% to 90% | Fully collateralised | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 2 | $ 1 |
ECL coverage | 0.00% | 0.00% |
Credit impaired | Lifetime expected credit losses | – 91% to 100% | Fully collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 98 | $ 133 |
ECL coverage | 24.30% | 21.80% |
Credit impaired | Lifetime expected credit losses | – 91% to 100% | Fully collateralised | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 9 | $ 24 |
ECL coverage | 17.80% | 26.30% |
Credit impaired | Lifetime expected credit losses | – 91% to 100% | Fully collateralised | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Credit impaired | Lifetime expected credit losses | – 101% to 110% | Partially collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 75 | $ 97 |
ECL coverage | 30.40% | 36.40% |
Credit impaired | Lifetime expected credit losses | – 101% to 110% | Partially collateralised | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 9 | $ 11 |
ECL coverage | 16.70% | 19.10% |
Credit impaired | Lifetime expected credit losses | – 101% to 110% | Partially collateralised | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Credit impaired | Lifetime expected credit losses | – 111% to 120% | Partially collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 56 | $ 62 |
ECL coverage | 38.80% | 37.80% |
Credit impaired | Lifetime expected credit losses | – 111% to 120% | Partially collateralised | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 5 | $ 6 |
ECL coverage | 17.60% | 22.70% |
Credit impaired | Lifetime expected credit losses | – 111% to 120% | Partially collateralised | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Credit impaired | Lifetime expected credit losses | – greater than 120% | Partially collateralised | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 197 | $ 212 |
ECL coverage | 48.50% | 55.60% |
Credit impaired | Lifetime expected credit losses | – greater than 120% | Partially collateralised | – UK | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 3 | $ 8 |
ECL coverage | 50.30% | 42.00% |
Credit impaired | Lifetime expected credit losses | – greater than 120% | Partially collateralised | – Hong Kong | ||
Disclosure of financial assets [line items] | ||
Financial assets and off-balance sheet loan commitments | $ 0 | $ 0 |
ECL coverage | 0.00% | 0.00% |
Report Of The Directors Fina_25
Report Of The Directors Financial Review Risk Report - HSBC Holdings (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Derivatives | ||
Disclosure of offsetting of financial assets [line items] | ||
Amounts offset | $ 69,103 | $ 41,739 |
HSBC Holdings | ||
Disclosure of offsetting of financial assets [line items] | ||
Percentage of credit risk exposure being neither past due nor impaired | 100.00% | 100.00% |
HSBC Holdings | Derivatives | ||
Disclosure of offsetting of financial assets [line items] | ||
Amounts offset | $ 1,700 | $ 100 |
Report Of The Directors Fina_26
Report Of The Directors Financial Review Risk Report - Capital Risk Management (Details) | Dec. 31, 2020 | Dec. 31, 2019 |
Report Of The Directors Financial Review Risk Report [Abstract] | ||
CET1 ratio | 15.90% | 14.70% |
Report Of The Directors Fina_27
Report Of The Directors Financial Review Risk Report - Sources of funding and uses (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Schedule of Funding Sources And Funding Uses [Line Items] | |||
Equity and liabilities | $ 2,984,164 | $ 2,715,152 | |
Total assets | 2,984,164 | 2,715,152 | $ 2,558,124 |
Loans and advances to customers at amortised cost | |||
Schedule of Funding Sources And Funding Uses [Line Items] | |||
Funding uses | 1,037,987 | 1,036,743 | |
Loans and advances to banks at amortised cost | |||
Schedule of Funding Sources And Funding Uses [Line Items] | |||
Funding uses | 81,616 | 69,203 | |
– reverse repurchase agreements – non-trading | |||
Schedule of Funding Sources And Funding Uses [Line Items] | |||
Funding uses | 230,628 | 240,862 | |
Prepayments, accrued income and other assets | |||
Schedule of Funding Sources And Funding Uses [Line Items] | |||
Funding uses | 76,859 | 63,891 | |
Prepayments, accrued income and other assets | Cash collateral, margin and settlement accounts | |||
Schedule of Funding Sources And Funding Uses [Line Items] | |||
Funding uses | 76,859 | 63,891 | |
Assets held for sale | |||
Schedule of Funding Sources And Funding Uses [Line Items] | |||
Funding uses | 299 | 123 | |
Trading | |||
Schedule of Funding Sources And Funding Uses [Line Items] | |||
Funding uses | 231,990 | 254,271 | |
Trading | Reverse repos | |||
Schedule of Funding Sources And Funding Uses [Line Items] | |||
Funding uses | 13,990 | 13,659 | |
Trading | Stock borrowing | |||
Schedule of Funding Sources And Funding Uses [Line Items] | |||
Funding uses | 8,286 | 7,691 | |
Trading | Other trading assets | |||
Schedule of Funding Sources And Funding Uses [Line Items] | |||
Funding uses | 209,714 | 232,921 | |
Financial investments | |||
Schedule of Funding Sources And Funding Uses [Line Items] | |||
Funding uses | 490,693 | 443,312 | |
Cash and balances at central banks | |||
Schedule of Funding Sources And Funding Uses [Line Items] | |||
Funding uses | 304,481 | 154,099 | |
Other Balance Sheet Assets | |||
Schedule of Funding Sources And Funding Uses [Line Items] | |||
Funding uses | 529,611 | 452,648 | |
Customer accounts | |||
Schedule of Funding Sources And Funding Uses [Line Items] | |||
Funded amount | 1,642,780 | 1,439,115 | |
Deposits by banks | |||
Schedule of Funding Sources And Funding Uses [Line Items] | |||
Funded amount | 82,080 | 59,022 | |
Repurchase agreements, non-trading | |||
Schedule of Funding Sources And Funding Uses [Line Items] | |||
Funded amount | 111,901 | 140,344 | |
Debt securities | |||
Schedule of Funding Sources And Funding Uses [Line Items] | |||
Funded amount | 95,492 | 104,555 | |
Accruals, deferred income and other liabilities | Cash collateral, margin and settlement accounts | |||
Schedule of Funding Sources And Funding Uses [Line Items] | |||
Funded amount | 78,565 | 71,002 | |
Subordinated liabilities | |||
Schedule of Funding Sources And Funding Uses [Line Items] | |||
Funded amount | 21,951 | 24,600 | |
Financial liabilities designated at fair value | |||
Schedule of Funding Sources And Funding Uses [Line Items] | |||
Funded amount | 157,439 | 164,466 | |
Liabilities under insurance contracts | |||
Schedule of Funding Sources And Funding Uses [Line Items] | |||
Funded amount | 107,191 | 97,439 | |
Trading liabilities | |||
Schedule of Funding Sources And Funding Uses [Line Items] | |||
Funded amount | 75,266 | 83,170 | |
Trading liabilities | Reverse repurchase agreements – non-trading | |||
Schedule of Funding Sources And Funding Uses [Line Items] | |||
Funded amount | 11,728 | 558 | |
Trading liabilities | Stock lending | |||
Schedule of Funding Sources And Funding Uses [Line Items] | |||
Funded amount | 4,597 | 9,702 | |
Trading liabilities | Other trading liabilities | |||
Schedule of Funding Sources And Funding Uses [Line Items] | |||
Funded amount | 58,941 | 72,910 | |
Equity | |||
Schedule of Funding Sources And Funding Uses [Line Items] | |||
Funded amount | 204,995 | 192,668 | |
Other balance sheet liabilities | |||
Schedule of Funding Sources And Funding Uses [Line Items] | |||
Funded amount | $ 406,504 | $ 338,771 |
Report Of The Directors Fina_28
Report Of The Directors Financial Review Risk Report - Own funds (Details) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020USD ($)percentage | May 31, 2020 | Dec. 31, 2019USD ($) | |
Common equity tier 1 (‘CET1’) capital: instruments and reserves [Abstract] | |||
Capital instruments and the related share premium accounts | $ 23,219 | $ 22,873 | |
Retained earnings | 128,665 | 127,188 | |
Accumulated other comprehensive income (and other reserves) | 9,768 | 1,735 | |
Minority interests (amount allowed in consolidated CET1) | 4,079 | 4,865 | |
Independently reviewed interim net profits net of any foreseeable charge or dividend | (252) | (3,381) | |
Common equity tier 1 capital before regulatory adjustments | 165,479 | 153,280 | |
Common equity tier 1 capital: regulatory adjustments [Abstract] | |||
Total regulatory adjustments to common equity tier 1 | (29,429) | (29,314) | |
Common equity tier 1 capital | 136,050 | 123,966 | |
Additional tier 1 capital before regulatory adjustments | 24,183 | 24,453 | |
Total regulatory adjustments to additional tier 1 capital | (60) | (60) | |
Additional tier 1 capital | 24,123 | 24,393 | |
Tier 1 capital | 160,173 | 148,359 | |
Tier 2 capital before regulatory adjustments | 25,722 | 25,192 | |
Total regulatory adjustments to tier 2 capital | (1,472) | (1,401) | |
Tier 2 capital | 24,250 | 23,791 | |
Total capital | $ 184,423 | $ 172,150 | |
CET1 ratio | 15.90% | 14.70% | |
Increase (decrease) in common equity tier one capital | $ 12,100 | ||
Increase (decrease) in common equity tier one capital, cancellation of the fourth interim dividend | 3,400 | ||
Increase (decrease) in common equity tier one capital, foreign currency translation | 3,400 | ||
Increase (decrease) in common equity tier one capital, other equity instruments net of dividends | 2,800 | ||
Increase (decrease) in common equity tier one capital, intangible asset deduction | 2,100 | ||
Increase (decrease) in common equity tier one capital, FVOCI reserve | 1,800 | ||
Increase (decrease) in common equity tier one capital, excess expected loss deduction | 1,800 | ||
Increase (decrease) in common equity tier one capital, interim dividend | 3,100 | ||
Increase (decrease) in common equity tier one capital, allowable non-controlling interest | $ 800 | ||
Increase (decrease) in common equity tier one ratio, percentage points | percentage | 0.2 | ||
Pillar 2A requirement, percentage of risk weighted assets | 3.00% | ||
Pillar 2A requirement, risk weighted assets, percentage met by CET1 | 1.70% | ||
HSBC Trinkaus & Burkhardt AG1 | |||
Common equity tier 1 capital: regulatory adjustments [Abstract] | |||
Percentage of voting equity interests acquired | 18.66% |
Report Of The Directors Fina_29
Report Of The Directors Financial Review Risk Report - Trading VaR, 99% 1 Day (Details) - Trading portfolios - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | $ 43.4 | $ 40.3 |
Average | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | 48.1 | 47.8 |
Top of range | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | 69.3 | 59.3 |
Bottom of range | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | 33.6 | 33.3 |
Foreign exchange (FX) and commodity | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | 13.7 | 7.7 |
Foreign exchange (FX) and commodity | Average | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | 11 | 6.9 |
Foreign exchange (FX) and commodity | Top of range | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | 25.7 | 13.5 |
Foreign exchange (FX) and commodity | Bottom of range | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | 5.6 | 4.1 |
Interest rate | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | 20.3 | 28.2 |
Interest rate | Average | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | 26.6 | 29.9 |
Interest rate | Top of range | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | 43.5 | 36.5 |
Interest rate | Bottom of range | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | 19.1 | 22.9 |
Equity (EQ) | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | 21.5 | 15.7 |
Equity (EQ) | Average | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | 27.3 | 16.2 |
Equity (EQ) | Top of range | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | 42 | 24.9 |
Equity (EQ) | Bottom of range | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | 13.6 | 12.4 |
Credit spread | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | 24.3 | 15.2 |
Credit spread | Average | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | 21.6 | 23.7 |
Credit spread | Top of range | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | 44.1 | 33.2 |
Credit spread | Bottom of range | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | 12.6 | 11.7 |
Portfolio diversification | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | (36.4) | (26.4) |
Portfolio diversification | Average | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | $ (38.3) | $ (29) |
Report Of The Directors Fina_30
Report Of The Directors Financial Review Risk Report - Non-trading VaR 99% 1 Day (Details) - Non-trading portfolios - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | $ 247.8 | $ 130.5 |
Average | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | 190.7 | 84.5 |
Top of range | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | 274.6 | 132.8 |
Bottom of range | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | 79.7 | 60.9 |
Interest rate | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | 166.6 | 96.2 |
Interest rate | Average | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | 150.2 | 65.9 |
Interest rate | Top of range | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | 196.4 | 100.1 |
Interest rate | Bottom of range | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | 59 | 49.2 |
Credit spread | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | 87 | 62.5 |
Credit spread | Average | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | 82.5 | 44.2 |
Credit spread | Top of range | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | 133.4 | 81.2 |
Credit spread | Bottom of range | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | 44.2 | 26.6 |
Portfolio diversification | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | (5.7) | (28.2) |
Portfolio diversification | Average | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Value at risk | $ (42) | $ (25.6) |
Report Of The Directors Fina_31
Report Of The Directors Financial Review Risk Report - Balance sheet of insurance manufacturing subsidiaries by type of contract (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of types of insurance contracts [line items] | ||||
Financial assets | $ 2,880,751,000 | $ 2,621,427,000 | ||
– trading assets | 231,990,000 | 254,271,000 | ||
Derivatives | 307,726,000 | 242,995,000 | ||
– financial investments at amortised cost | 481,874,000 | 436,959,000 | ||
– other financial assets | 12,399,000 | 12,006,000 | ||
Total assets | 2,984,164,000 | 2,715,152,000 | $ 2,558,124,000 | |
Liabilities under insurance contracts | 103,743,000 | 93,847,000 | ||
Deferred tax | 4,313,000 | 3,375,000 | ||
Other liabilities | 22,721,000 | 18,844,000 | ||
Total liabilities | 2,779,169,000 | 2,522,484,000 | ||
Total equity | 204,995,000 | 192,668,000 | $ 194,249,000 | $ 196,224,000 |
Total liabilities and equity | 2,984,164,000 | 2,715,152,000 | ||
With DPF | ||||
Disclosure of types of insurance contracts [line items] | ||||
Liabilities under insurance contracts | 28,278,000 | 25,964,000 | ||
Unit-linked | ||||
Disclosure of types of insurance contracts [line items] | ||||
Liabilities under insurance contracts | 6,435,000 | 6,080,000 | ||
Other contracts | ||||
Disclosure of types of insurance contracts [line items] | ||||
Liabilities under insurance contracts | 69,030,000 | 61,803,000 | ||
Insurance Manufacturing Subsidiaries | ||||
Disclosure of types of insurance contracts [line items] | ||||
Financial assets | 121,127,000 | 107,045,000 | ||
– trading assets | 0 | 0 | ||
– financial assets designated and otherwise mandatorily measured at fair value through profit or loss | 39,553,000 | 34,278,000 | ||
Derivatives | 281,000 | 208,000 | ||
– financial investments at amortised cost | 58,426,000 | 52,829,000 | ||
– financial investments at fair value through other comprehensive income | 14,921,000 | 14,028,000 | ||
– other financial assets | 7,946,000 | 5,702,000 | ||
Reinsurance assets | 3,770,000 | 3,844,000 | ||
PVIF | 9,435,000 | 8,945,000 | ||
Other assets and investment properties | 3,577,000 | 3,310,000 | ||
Total assets | 137,909,000 | 123,144,000 | ||
Liabilities under investment contracts designated at fair value | 6,385,000 | 5,892,000 | ||
Liabilities under insurance contracts | 107,261,000 | 97,439,000 | ||
Deferred tax | 1,575,000 | 1,523,000 | ||
Other liabilities | 7,244,000 | 4,410,000 | ||
Total liabilities | 122,465,000 | 109,264,000 | ||
Total equity | 15,444,000 | 13,879,000 | ||
Total liabilities and equity | 137,909,000 | 123,143,000 | ||
Insurance Manufacturing Subsidiaries | Assets and liabilities related to insurance contracts | With DPF | ||||
Disclosure of types of insurance contracts [line items] | ||||
Financial assets | 84,478,000 | 73,929,000 | ||
– trading assets | 0 | 0 | ||
– financial assets designated and otherwise mandatorily measured at fair value through profit or loss | 26,002,000 | 21,652,000 | ||
Derivatives | 262,000 | 202,000 | ||
– financial investments at amortised cost | 39,891,000 | 35,299,000 | ||
– financial investments at fair value through other comprehensive income | 12,531,000 | 12,447,000 | ||
– other financial assets | 5,792,000 | 4,329,000 | ||
Reinsurance assets | 2,256,000 | 2,208,000 | ||
PVIF | 0 | 0 | ||
Other assets and investment properties | 2,628,000 | 2,495,000 | ||
Total assets | 89,362,000 | 78,632,000 | ||
Liabilities under investment contracts designated at fair value | 0 | 0 | ||
Liabilities under insurance contracts | 84,931,000 | 77,147,000 | ||
Deferred tax | 145,000 | 197,000 | ||
Other liabilities | 0 | 0 | ||
Total liabilities | 85,076,000 | 77,344,000 | ||
Total equity | 0 | 0 | ||
Total liabilities and equity | 85,076,000 | 77,344,000 | ||
Insurance Manufacturing Subsidiaries | Assets and liabilities related to insurance contracts | Unit-linked | ||||
Disclosure of types of insurance contracts [line items] | ||||
Financial assets | 8,802,000 | 7,333,000 | ||
– trading assets | 0 | 0 | ||
– financial assets designated and otherwise mandatorily measured at fair value through profit or loss | 8,558,000 | 7,119,000 | ||
Derivatives | 3,000 | (6,000) | ||
– financial investments at amortised cost | 30,000 | 18,000 | ||
– financial investments at fair value through other comprehensive income | 0 | 0 | ||
– other financial assets | 211,000 | 202,000 | ||
Reinsurance assets | 65,000 | 72,000 | ||
PVIF | 0 | 0 | ||
Other assets and investment properties | 1,000 | 2,000 | ||
Total assets | 8,868,000 | 7,407,000 | ||
Liabilities under investment contracts designated at fair value | 2,285,000 | 2,011,000 | ||
Liabilities under insurance contracts | 6,503,000 | 6,151,000 | ||
Deferred tax | 5,000 | 23,000 | ||
Other liabilities | 0 | 0 | ||
Total liabilities | 8,793,000 | 8,185,000 | ||
Total equity | 0 | 0 | ||
Total liabilities and equity | 8,793,000 | 8,185,000 | ||
Insurance Manufacturing Subsidiaries | Assets and liabilities related to insurance contracts | Other contracts | ||||
Disclosure of types of insurance contracts [line items] | ||||
Financial assets | 18,932,000 | 17,514,000 | ||
– trading assets | 0 | 0 | ||
– financial assets designated and otherwise mandatorily measured at fair value through profit or loss | 3,508,000 | 3,081,000 | ||
Derivatives | 13,000 | 9,000 | ||
– financial investments at amortised cost | 13,984,000 | 13,436,000 | ||
– financial investments at fair value through other comprehensive income | 459,000 | 445,000 | ||
– other financial assets | 968,000 | 543,000 | ||
Reinsurance assets | 1,447,000 | 1,563,000 | ||
PVIF | 0 | 0 | ||
Other assets and investment properties | 227,000 | 211,000 | ||
Total assets | 20,606,000 | 19,288,000 | ||
Liabilities under investment contracts designated at fair value | 4,100,000 | 3,881,000 | ||
Liabilities under insurance contracts | 15,827,000 | 14,141,000 | ||
Deferred tax | 25,000 | 6,000 | ||
Other liabilities | 0 | 0 | ||
Total liabilities | 19,952,000 | 18,028,000 | ||
Total equity | 0 | 0 | ||
Total liabilities and equity | 19,952,000 | 18,028,000 | ||
Insurance Manufacturing Subsidiaries | Shareholder assets and liabilities | ||||
Disclosure of types of insurance contracts [line items] | ||||
Financial assets | 8,915,000 | 8,269,000 | ||
– trading assets | 0 | 0 | ||
– financial assets designated and otherwise mandatorily measured at fair value through profit or loss | 1,485,000 | 2,426,000 | ||
Derivatives | 3,000 | 3,000 | ||
– financial investments at amortised cost | 4,521,000 | 4,076,000 | ||
– financial investments at fair value through other comprehensive income | 1,931,000 | 1,136,000 | ||
– other financial assets | 975,000 | 628,000 | ||
Reinsurance assets | 2,000 | 1,000 | ||
PVIF | 9,435,000 | 8,945,000 | ||
Other assets and investment properties | 721,000 | 602,000 | ||
Total assets | 19,073,000 | 17,817,000 | ||
Liabilities under investment contracts designated at fair value | 0 | 0 | ||
Liabilities under insurance contracts | 0 | 0 | ||
Deferred tax | 1,400,000 | 1,297,000 | ||
Other liabilities | 7,244,000 | 4,410,000 | ||
Total liabilities | 8,644,000 | 5,707,000 | ||
Total equity | 15,444,000 | 13,879,000 | ||
Total liabilities and equity | $ 24,088,000 | $ 19,586,000 |
Report Of The Directors Fina_32
Report Of The Directors Financial Review Risk Report - Balance sheet of insurance manufacturing subsidiaries by geographical region (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of types of insurance contracts [line items] | ||||
Financial assets | $ 2,880,751 | $ 2,621,427 | ||
– trading assets | 231,990 | 254,271 | ||
Derivatives | 307,726 | 242,995 | ||
– financial investments at amortised cost | 481,874 | 436,959 | ||
– other financial assets | 12,399 | 12,006 | ||
Total assets | 2,984,164 | 2,715,152 | $ 2,558,124 | |
Liabilities under insurance contracts | 103,743 | 93,847 | ||
Deferred tax | 4,313 | 3,375 | ||
Other liabilities | 22,721 | 18,844 | ||
Total liabilities | 2,779,169 | 2,522,484 | ||
Total equity | 204,995 | 192,668 | $ 194,249 | $ 196,224 |
Total liabilities and equity | 2,984,164 | 2,715,152 | ||
Insurance Manufacturing Subsidiaries | ||||
Disclosure of types of insurance contracts [line items] | ||||
Financial assets | 121,127 | 107,045 | ||
– trading assets | 0 | 0 | ||
– financial assets designated and otherwise mandatorily measured at fair value through profit or loss | 39,553 | 34,278 | ||
Derivatives | 281 | 208 | ||
– financial investments at amortised cost | 58,426 | 52,829 | ||
– financial investments at fair value through other comprehensive income | 14,921 | 14,028 | ||
– other financial assets | 7,946 | 5,702 | ||
Reinsurance assets | 3,770 | 3,844 | ||
PVIF | 9,435 | 8,945 | ||
Other assets and investment properties | 3,577 | 3,310 | ||
Total assets | 137,909 | 123,144 | ||
Liabilities under investment contracts designated at fair value | 6,385 | 5,892 | ||
Liabilities under insurance contracts | 107,261 | 97,439 | ||
Deferred tax | 1,575 | 1,523 | ||
Other liabilities | 7,244 | 4,410 | ||
Total liabilities | 122,465 | 109,264 | ||
Total equity | 15,444 | 13,879 | ||
Total liabilities and equity | 137,909 | 123,143 | ||
Insurance Manufacturing Subsidiaries | Europe | ||||
Disclosure of types of insurance contracts [line items] | ||||
Financial assets | 34,768 | 31,613 | ||
– trading assets | 0 | 0 | ||
– financial assets designated and otherwise mandatorily measured at fair value through profit or loss | 17,184 | 15,490 | ||
Derivatives | 107 | 84 | ||
– financial investments at amortised cost | 531 | 100 | ||
– financial investments at fair value through other comprehensive income | 13,894 | 13,071 | ||
– other financial assets | 3,052 | 2,868 | ||
Reinsurance assets | 245 | 237 | ||
PVIF | 884 | 945 | ||
Other assets and investment properties | 1,189 | 1,085 | ||
Total assets | 37,086 | 33,880 | ||
Liabilities under investment contracts designated at fair value | 1,288 | 1,139 | ||
Liabilities under insurance contracts | 31,153 | 28,437 | ||
Deferred tax | 204 | 229 | ||
Other liabilities | 2,426 | 2,212 | ||
Total liabilities | 35,071 | 32,017 | ||
Total equity | 2,015 | 1,862 | ||
Total liabilities and equity | 37,086 | 33,879 | ||
Insurance Manufacturing Subsidiaries | Asia | ||||
Disclosure of types of insurance contracts [line items] | ||||
Financial assets | 85,259 | 74,237 | ||
– trading assets | 0 | 0 | ||
– financial assets designated and otherwise mandatorily measured at fair value through profit or loss | 22,099 | 18,562 | ||
Derivatives | 174 | 124 | ||
– financial investments at amortised cost | 57,420 | 52,186 | ||
– financial investments at fair value through other comprehensive income | 706 | 582 | ||
– other financial assets | 4,860 | 2,783 | ||
Reinsurance assets | 3,521 | 3,604 | ||
PVIF | 8,390 | 7,841 | ||
Other assets and investment properties | 2,332 | 2,176 | ||
Total assets | 99,502 | 87,858 | ||
Liabilities under investment contracts designated at fair value | 5,097 | 4,753 | ||
Liabilities under insurance contracts | 74,994 | 67,884 | ||
Deferred tax | 1,348 | 1,275 | ||
Other liabilities | 4,800 | 2,172 | ||
Total liabilities | 86,239 | 76,084 | ||
Total equity | 13,263 | 11,774 | ||
Total liabilities and equity | 99,502 | 87,858 | ||
Insurance Manufacturing Subsidiaries | Latin America | ||||
Disclosure of types of insurance contracts [line items] | ||||
Financial assets | 1,100 | 1,195 | ||
– trading assets | 0 | 0 | ||
– financial assets designated and otherwise mandatorily measured at fair value through profit or loss | 270 | 226 | ||
Derivatives | 0 | 0 | ||
– financial investments at amortised cost | 475 | 543 | ||
– financial investments at fair value through other comprehensive income | 321 | 375 | ||
– other financial assets | 34 | 51 | ||
Reinsurance assets | 4 | 3 | ||
PVIF | 161 | 159 | ||
Other assets and investment properties | 56 | 49 | ||
Total assets | 1,321 | 1,406 | ||
Liabilities under investment contracts designated at fair value | 0 | 0 | ||
Liabilities under insurance contracts | 1,114 | 1,118 | ||
Deferred tax | 23 | 19 | ||
Other liabilities | 18 | 26 | ||
Total liabilities | 1,155 | 1,163 | ||
Total equity | 166 | 243 | ||
Total liabilities and equity | $ 1,321 | $ 1,406 |
Report Of The Directors Fina_33
Report Of The Directors Financial Review Risk Report - Market risk (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Market risk | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Cost of guarantees | $ 1,105 | $ 693 |
Report Of The Directors Fina_34
Report Of The Directors Financial Review Risk Report - Financial return guarantees (Details) - Market risk - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of Financial Return Guarantees [Line Items] | ||
Cost of guarantees | $ 1,105 | $ 693 |
Investment Returns Range One | ||
Disclosure of Financial Return Guarantees [Line Items] | ||
Cost of guarantees | 277 | 110 |
Investment Returns Range Two | ||
Disclosure of Financial Return Guarantees [Line Items] | ||
Cost of guarantees | 515 | 118 |
Investment Returns Range Three | ||
Disclosure of Financial Return Guarantees [Line Items] | ||
Cost of guarantees | 180 | 355 |
Investment Returns Range Four | ||
Disclosure of Financial Return Guarantees [Line Items] | ||
Cost of guarantees | $ 133 | $ 110 |
Bottom of range | ||
Disclosure of Financial Return Guarantees [Line Items] | ||
Long-term investment returns on relevant portfolios | 0.70% | 1.30% |
Bottom of range | Investment Returns Range Two | ||
Disclosure of Financial Return Guarantees [Line Items] | ||
Investment returns implied by guarantee | 0.10% | 0.10% |
Long-term investment returns on relevant portfolios | 2.30% | 3.00% |
Bottom of range | Investment Returns Range Three | ||
Disclosure of Financial Return Guarantees [Line Items] | ||
Investment returns implied by guarantee | 2.00% | 2.00% |
Long-term investment returns on relevant portfolios | 2.00% | 2.40% |
Bottom of range | Investment Returns Range Four | ||
Disclosure of Financial Return Guarantees [Line Items] | ||
Investment returns implied by guarantee | 4.00% | 4.10% |
Long-term investment returns on relevant portfolios | 2.00% | 2.30% |
Top of range | ||
Disclosure of Financial Return Guarantees [Line Items] | ||
Long-term investment returns on relevant portfolios | 3.20% | 3.90% |
Top of range | Investment Returns Range Two | ||
Disclosure of Financial Return Guarantees [Line Items] | ||
Investment returns implied by guarantee | 1.90% | 2.00% |
Long-term investment returns on relevant portfolios | 3.60% | 4.50% |
Top of range | Investment Returns Range Three | ||
Disclosure of Financial Return Guarantees [Line Items] | ||
Investment returns implied by guarantee | 3.90% | 4.00% |
Long-term investment returns on relevant portfolios | 4.50% | 4.50% |
Top of range | Investment Returns Range Four | ||
Disclosure of Financial Return Guarantees [Line Items] | ||
Investment returns implied by guarantee | 5.00% | 5.00% |
Long-term investment returns on relevant portfolios | 4.20% | 4.10% |
Report Of The Directors Fina_35
Report Of The Directors Financial Review Risk Report - Sensitivity of HSBC’s insurance manufacturing subsidiaries to market risk factors (Details) - Market risk - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Effect on profit after tax | ||
+100 basis point parallel shift in yield curves | $ (67) | $ 43 |
-100 basis point parallel shift in yield curves | (68) | (221) |
10% increase in equity prices | 332 | 270 |
10% decrease in equity prices | (338) | (276) |
10% increase in US dollar exchange rate compared with all currencies | 84 | 41 |
10% decrease in US dollar exchange rate compared with all currencies | (84) | (41) |
Effect on total equity | ||
+100 basis point parallel shift in yield curves | (188) | (37) |
-100 basis point parallel shift in yield curves | 58 | (138) |
10% increase in equity prices | 332 | 270 |
10% decrease in equity prices | (338) | (276) |
10% increase in US dollar exchange rate compared with all currencies | 84 | 41 |
10% decrease in US dollar exchange rate compared with all currencies | $ (84) | $ (41) |
Report Of The Directors Fina_36
Report Of The Directors Financial Review Risk Report - Credit risk, Description and exposure (Details) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Credit risk | ||
Disclosure of credit risk exposure [line items] | ||
Percentage of insurance contracts assessed as satisfactory or higher that is neither past due nor impaired | 100.00% | 100.00% |
Report Of The Directors Fina_37
Report Of The Directors Financial Review Risk Report - Expected maturity of insurance contract liabilities (Details) - Liquidity risk - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure Of Expected Maturity Of Insurance Contract Liabilities [Line Items] | ||
Expected undiscounted cash flows | $ 175,384 | $ 166,178 |
Not later than one year | ||
Disclosure Of Expected Maturity Of Insurance Contract Liabilities [Line Items] | ||
Expected undiscounted cash flows | 9,834 | 9,203 |
1 to 5 years | ||
Disclosure Of Expected Maturity Of Insurance Contract Liabilities [Line Items] | ||
Expected undiscounted cash flows | 33,253 | 30,059 |
5-15 years | ||
Disclosure Of Expected Maturity Of Insurance Contract Liabilities [Line Items] | ||
Expected undiscounted cash flows | 54,359 | 53,230 |
Over 15 years | ||
Disclosure Of Expected Maturity Of Insurance Contract Liabilities [Line Items] | ||
Expected undiscounted cash flows | 77,938 | 73,686 |
Unit-linked | ||
Disclosure Of Expected Maturity Of Insurance Contract Liabilities [Line Items] | ||
Expected undiscounted cash flows | 9,579 | 9,058 |
Unit-linked | Not later than one year | ||
Disclosure Of Expected Maturity Of Insurance Contract Liabilities [Line Items] | ||
Expected undiscounted cash flows | 1,407 | 1,296 |
Unit-linked | 1 to 5 years | ||
Disclosure Of Expected Maturity Of Insurance Contract Liabilities [Line Items] | ||
Expected undiscounted cash flows | 3,097 | 3,153 |
Unit-linked | 5-15 years | ||
Disclosure Of Expected Maturity Of Insurance Contract Liabilities [Line Items] | ||
Expected undiscounted cash flows | 2,976 | 2,654 |
Unit-linked | Over 15 years | ||
Disclosure Of Expected Maturity Of Insurance Contract Liabilities [Line Items] | ||
Expected undiscounted cash flows | 2,099 | 1,955 |
With DPF and Other contracts | ||
Disclosure Of Expected Maturity Of Insurance Contract Liabilities [Line Items] | ||
Expected undiscounted cash flows | 165,805 | 157,120 |
With DPF and Other contracts | Not later than one year | ||
Disclosure Of Expected Maturity Of Insurance Contract Liabilities [Line Items] | ||
Expected undiscounted cash flows | 8,427 | 7,907 |
With DPF and Other contracts | 1 to 5 years | ||
Disclosure Of Expected Maturity Of Insurance Contract Liabilities [Line Items] | ||
Expected undiscounted cash flows | 30,156 | 26,906 |
With DPF and Other contracts | 5-15 years | ||
Disclosure Of Expected Maturity Of Insurance Contract Liabilities [Line Items] | ||
Expected undiscounted cash flows | 51,383 | 50,576 |
With DPF and Other contracts | Over 15 years | ||
Disclosure Of Expected Maturity Of Insurance Contract Liabilities [Line Items] | ||
Expected undiscounted cash flows | $ 75,839 | $ 71,731 |
Report Of The Directors Fina_38
Report Of The Directors Financial Review Risk Report - Sensitivity analysis (Details) - Insurance Risk - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of types of insurance contracts [line items] | ||
10% increase in mortality and/or morbidity rates | $ (93) | $ (88) |
10% decrease in mortality and/or morbidity rates | 98 | 88 |
10% increase in lapse rates | (111) | (99) |
10% decrease in lapse rates | 128 | 114 |
10% increase in expense rates | (117) | (106) |
10% decrease in expense rates | $ 115 | $ 105 |
Report Of The Directors Fina_39
Report Of The Directors Financial Review Risk Report - Securitisation exposures and other structured products (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of financial assets [line items] | ||
Financial assets | $ 2,880,751 | $ 2,621,427 |
Trading | ||
Disclosure of financial assets [line items] | ||
Financial assets | 231,990 | 254,271 |
Financial assets at amortised cost, category | ||
Disclosure of financial assets [line items] | ||
Financial assets | 88,639 | 85,735 |
Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | ||
Disclosure of financial assets [line items] | ||
Financial assets | 2,492 | 2,345 |
Asset-backed securities | Trading | ||
Disclosure of financial assets [line items] | ||
Financial assets | 4,253 | 4,691 |
Asset-backed securities | Financial assets designated and otherwise mandatorily measured at fair value through profit or loss | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 0 | $ 0 |
Report Of The Directors Fina_40
Report Of The Directors Financial Review Risk Report - Maximum exposure to credit risk - 2017 (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of detailed information about financial instruments [line items] | ||
Maximum exposure | $ 3,141,630 | $ 2,858,835 |
Offset | (335,129) | (290,258) |
Net | 2,806,501 | 2,568,577 |
On-balance sheet risk | ||
Disclosure of detailed information about financial instruments [line items] | ||
Maximum exposure | 2,201,445 | 1,965,589 |
Offset | (335,129) | (290,258) |
Net | 1,866,316 | 1,675,331 |
On-balance sheet risk | Derivatives | ||
Disclosure of detailed information about financial instruments [line items] | ||
Maximum exposure | 307,726 | 242,995 |
Offset | (293,240) | (232,908) |
Net | 14,486 | 10,087 |
On-balance sheet risk | Loans and advances to customers at amortised cost | ||
Disclosure of detailed information about financial instruments [line items] | ||
Maximum exposure | 1,037,987 | 1,036,743 |
Offset | (27,221) | (28,524) |
Net | 1,010,766 | 1,008,219 |
On-balance sheet risk | Loans and advances to banks at amortised cost | ||
Disclosure of detailed information about financial instruments [line items] | ||
Maximum exposure | 81,616 | 69,203 |
Offset | 0 | 0 |
Net | 81,616 | 69,203 |
On-balance sheet risk | Reverse repurchase agreements – non-trading | ||
Disclosure of detailed information about financial instruments [line items] | ||
Maximum exposure | 230,628 | 240,862 |
Offset | (14,668) | (28,826) |
Net | 215,960 | 212,036 |
On-balance sheet risk | – personal | Loans and advances to customers at amortised cost | ||
Disclosure of detailed information about financial instruments [line items] | ||
Maximum exposure | 456,078 | 431,137 |
Offset | (4,287) | (4,640) |
Net | 451,791 | 426,497 |
On-balance sheet risk | – corporate and commercial | Loans and advances to customers at amortised cost | ||
Disclosure of detailed information about financial instruments [line items] | ||
Maximum exposure | 517,594 | 535,061 |
Offset | (21,102) | (21,745) |
Net | 496,492 | 513,316 |
Off-balance sheet risk | ||
Disclosure of detailed information about financial instruments [line items] | ||
Maximum exposure | 940,185 | 893,246 |
Offset | 0 | 0 |
Net | 940,185 | 893,246 |
Off-balance sheet risk | Loans and other credit-related commitments | ||
Disclosure of detailed information about financial instruments [line items] | ||
Maximum exposure | 844,038 | 797,279 |
Offset | 0 | 0 |
Net | $ 844,038 | $ 797,279 |
Report Of The Directors Fina_41
Report Of The Directors Financial Review Risk Report - Distributions of financial instruments by credit quality - 2017 (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ 2,880,751 | $ 2,621,427 |
Debt securities | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 88,639 | 85,735 |
Loans and advances to banks at amortised cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 81,616 | 69,203 |
Loans and advances to customers at amortised cost | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,037,987 | 1,036,743 |
Derivatives | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 307,726 | 242,995 |
Derivatives | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 307,726 | 242,995 |
Derivatives | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 0 | 0 |
Strong | Derivatives | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 243,005 | 187,636 |
Good | Derivatives | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 54,581 | 42,642 |
Satisfactory | Derivatives | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 8,709 | 11,894 |
Sub- standard | Derivatives | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,359 | 821 |
Financial assets at amortised cost, category | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 88,639 | 85,735 |
Financial assets at amortised cost, category | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 2,584,710 | 2,350,116 |
Financial assets at amortised cost, category | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (15,566) | (9,243) |
Financial assets at amortised cost, category | Treasury and other eligible bills | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 11,757 | 10,476 |
Financial assets at amortised cost, category | Debt securities | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 76,882 | 75,259 |
Financial assets at amortised cost, category | Loans and advances to banks at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 81,658 | 69,219 |
Financial assets at amortised cost, category | Loans and advances to banks at amortised cost | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (42) | (16) |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,052,477 | 1,045,475 |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (14,490) | (8,732) |
Financial assets at amortised cost, category | – personal | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 460,809 | 434,271 |
Financial assets at amortised cost, category | – personal | Loans and advances to customers at amortised cost | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (4,731) | (3,134) |
Financial assets at amortised cost, category | – corporate and commercial | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 527,088 | 540,499 |
Financial assets at amortised cost, category | – corporate and commercial | Loans and advances to customers at amortised cost | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (9,494) | (5,438) |
Financial assets at amortised cost, category | – non-bank financial institutions | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 64,580 | 70,705 |
Financial assets at amortised cost, category | – non-bank financial institutions | Loans and advances to customers at amortised cost | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (265) | (160) |
Financial assets excluding equity securities | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 2,756,425 | 2,502,940 |
Financial assets excluding equity securities | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 2,771,273 | 2,511,972 |
Financial assets excluding equity securities | Allowance for ECL | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | (14,848) | (9,032) |
Financial assets excluding equity securities | Strong | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 1,995,882 | 1,783,286 |
Financial assets excluding equity securities | Good | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 384,915 | 388,474 |
Financial assets excluding equity securities | Satisfactory | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | 328,487 | 300,774 |
Financial assets excluding equity securities | Sub- standard | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ 41,979 | $ 25,591 |
Financial assets excluding equity securities | Portfolio Concentration Risk | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Concentration risk percentage | 100.00% | 100.00% |
Financial assets excluding equity securities | Portfolio Concentration Risk | Strong | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Concentration risk percentage | 72.00% | 70.90% |
Financial assets excluding equity securities | Portfolio Concentration Risk | Good | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Concentration risk percentage | 13.90% | 15.50% |
Financial assets excluding equity securities | Portfolio Concentration Risk | Satisfactory | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Concentration risk percentage | 11.90% | 12.00% |
Financial assets excluding equity securities | Portfolio Concentration Risk | Sub- standard | Gross carrying/nominal amount | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Concentration risk percentage | 1.50% | 1.00% |
Report Of The Directors Fina_42
Report Of The Directors Financial Review Risk Report - Past due but not impaired gross financial instruments by geographical region (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ 2,880,751 | $ 2,621,427 |
Report Of The Directors Fina_43
Report Of The Directors Financial Review Risk Report - Ageing analysis of days for past due but not impaired gross financial instruments (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial assets | $ 2,880,751 | $ 2,621,427 |
Report Of The Directors Fina_44
Report Of The Directors Financial Review Risk Report - Movement in impaired loans by industry sector (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2020USD ($) | |
Disclosure of financial assets that are either past due or impaired [line items] | |
Financial assets, beginning balance | $ 2,621,427 |
Financial assets, ending balance | 2,880,751 |
Loans and advances to customers at amortised cost | |
Disclosure of financial assets that are either past due or impaired [line items] | |
Financial assets, beginning balance | 1,036,743 |
Financial assets, ending balance | 1,037,987 |
Financial assets at amortised cost, category | |
Disclosure of financial assets that are either past due or impaired [line items] | |
Financial assets, beginning balance | 85,735 |
Financial assets, ending balance | 88,639 |
Financial assets at amortised cost, category | Gross carrying/nominal amount | |
Disclosure of financial assets that are either past due or impaired [line items] | |
Financial assets, beginning balance | 2,350,116 |
Financial assets, ending balance | 2,584,710 |
Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | |
Disclosure of financial assets that are either past due or impaired [line items] | |
Financial assets, beginning balance | 1,045,475 |
Financial assets, ending balance | 1,052,477 |
– personal | Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | |
Disclosure of financial assets that are either past due or impaired [line items] | |
Financial assets, beginning balance | 434,271 |
Financial assets, ending balance | 460,809 |
– corporate and commercial | Financial assets at amortised cost, category | Loans and advances to customers at amortised cost | Gross carrying/nominal amount | |
Disclosure of financial assets that are either past due or impaired [line items] | |
Financial assets, beginning balance | 540,499 |
Financial assets, ending balance | $ 527,088 |
Report Of The Directors Fina_45
Report Of The Directors Financial Review Risk Report - Movement in impairment allowances on loans and advances to customers and banks (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2020USD ($) | |
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |
Financial assets | $ (2,621,427) |
Financial assets | (2,880,751) |
Financial assets excluding equity securities | |
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |
Financial assets | (2,502,940) |
Financial assets | (2,756,425) |
Financial assets excluding equity securities | Accumulated impairment | |
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |
Financial assets | 9,032 |
Financial assets | $ 14,848 |
Report Of The Directors Fina_46
Report Of The Directors Financial Review Risk Report - Cash flows payable by HSBC under financial liabilities by remaining contractual maturities (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Deposits by banks | $ 82,066 | $ 59,320 |
Customer accounts | 1,644,021 | 1,441,810 |
Repurchase agreements – non-trading | 111,980 | 140,528 |
Trading liabilities | 75,266 | 83,170 |
Financial liabilities designated at fair value | 160,924 | 177,060 |
Derivatives | 305,051 | 241,291 |
Debt securities in issue | 101,642 | 109,315 |
Subordinated liabilities | 37,847 | 37,844 |
Other financial liabilities | 162,244 | 152,398 |
Cash flows payable under financial liabilities | 2,681,041 | 2,442,736 |
Loan and other credit-related commitments | 844,770 | 797,608 |
Financial guarantees | 18,384 | 20,214 |
Cash flows payable under financial liabilities and other contractual commitments | 3,544,195 | 3,260,558 |
Due over 3 months but not more than 1 year | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Deposits by banks | 1,639 | 4,227 |
Customer accounts | 40,755 | 62,105 |
Repurchase agreements – non-trading | 3,257 | 3,565 |
Trading liabilities | 0 | 0 |
Financial liabilities designated at fair value | 19,243 | 14,747 |
Derivatives | 579 | 522 |
Debt securities in issue | 29,520 | 38,423 |
Subordinated liabilities | 1,102 | 2,908 |
Other financial liabilities | 5,113 | 6,792 |
Cash flows payable under financial liabilities | 101,208 | 133,289 |
Loan and other credit-related commitments | 740 | 561 |
Financial guarantees | 93 | 102 |
Cash flows payable under financial liabilities and other contractual commitments | $ 102,041 | $ 133,952 |
Proportion of cash flows payable in period | 3.00% | 4.00% |
1 to 5 years | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Deposits by banks | $ 17,352 | $ 3,371 |
Customer accounts | 7,720 | 9,900 |
Repurchase agreements – non-trading | 1,058 | 368 |
Trading liabilities | 0 | 0 |
Financial liabilities designated at fair value | 59,835 | 76,155 |
Derivatives | 1,830 | 1,076 |
Debt securities in issue | 28,787 | 36,584 |
Subordinated liabilities | 7,024 | 5,197 |
Other financial liabilities | 5,030 | 5,637 |
Cash flows payable under financial liabilities | 128,636 | 138,288 |
Loan and other credit-related commitments | 480 | 886 |
Financial guarantees | 37 | 68 |
Cash flows payable under financial liabilities and other contractual commitments | $ 129,153 | $ 139,242 |
Proportion of cash flows payable in period | 4.00% | 4.00% |
More than 5 years | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Deposits by banks | $ 632 | $ 1,084 |
Customer accounts | 153 | 191 |
Repurchase agreements – non-trading | 1,017 | 1,036 |
Trading liabilities | 0 | 0 |
Financial liabilities designated at fair value | 55,475 | 68,045 |
Derivatives | 2,128 | 1,691 |
Debt securities in issue | 24,075 | 8,177 |
Subordinated liabilities | 28,812 | 27,892 |
Other financial liabilities | 2,887 | 2,992 |
Cash flows payable under financial liabilities | 115,179 | 111,108 |
Loan and other credit-related commitments | 171 | 317 |
Financial guarantees | 41 | 0 |
Cash flows payable under financial liabilities and other contractual commitments | $ 115,391 | $ 111,425 |
Proportion of cash flows payable in period | 3.00% | 3.00% |
Report Of The Directors Fina_47
Report Of The Directors Financial Review Risk Report - Cash flows payable by HSBC Holdings under financial liabilities by remaining contractual maturities (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Financial liabilities designated at fair value | $ 160,924 | $ 177,060 |
Derivatives | 305,051 | 241,291 |
Debt securities in issue | 101,642 | 109,315 |
Subordinated liabilities | 37,847 | 37,844 |
Other financial liabilities | 162,244 | 152,398 |
Cash flows payable under financial liabilities | 2,681,041 | 2,442,736 |
Loan and other credit-related commitments | 844,770 | 797,608 |
Financial guarantees and similar contracts | 18,384 | 20,214 |
Cash flows payable under financial liabilities and other contractual commitments | 3,544,195 | 3,260,558 |
Due over 3 months but not more than 1 year | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Financial liabilities designated at fair value | 19,243 | 14,747 |
Derivatives | 579 | 522 |
Debt securities in issue | 29,520 | 38,423 |
Subordinated liabilities | 1,102 | 2,908 |
Other financial liabilities | 5,113 | 6,792 |
Cash flows payable under financial liabilities | 101,208 | 133,289 |
Loan and other credit-related commitments | 740 | 561 |
Financial guarantees and similar contracts | 93 | 102 |
Cash flows payable under financial liabilities and other contractual commitments | 102,041 | 133,952 |
1 to 5 years | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Financial liabilities designated at fair value | 59,835 | 76,155 |
Derivatives | 1,830 | 1,076 |
Debt securities in issue | 28,787 | 36,584 |
Subordinated liabilities | 7,024 | 5,197 |
Other financial liabilities | 5,030 | 5,637 |
Cash flows payable under financial liabilities | 128,636 | 138,288 |
Loan and other credit-related commitments | 480 | 886 |
Financial guarantees and similar contracts | 37 | 68 |
Cash flows payable under financial liabilities and other contractual commitments | 129,153 | 139,242 |
More than 5 years | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Financial liabilities designated at fair value | 55,475 | 68,045 |
Derivatives | 2,128 | 1,691 |
Debt securities in issue | 24,075 | 8,177 |
Subordinated liabilities | 28,812 | 27,892 |
Other financial liabilities | 2,887 | 2,992 |
Cash flows payable under financial liabilities | 115,179 | 111,108 |
Loan and other credit-related commitments | 171 | 317 |
Financial guarantees and similar contracts | 41 | 0 |
Cash flows payable under financial liabilities and other contractual commitments | 115,391 | 111,425 |
HSBC Holdings | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Amounts owed to HSBC undertakings | 330 | 464 |
Financial liabilities designated at fair value | 27,805 | 34,000 |
Derivatives | 3,087 | 2,021 |
Debt securities in issue | 72,919 | 65,509 |
Subordinated liabilities | 30,029 | 29,736 |
Other financial liabilities | 4,865 | 1,840 |
Cash flows payable under financial liabilities | 139,035 | 133,570 |
Loan and other credit-related commitments | 0 | 0 |
Financial guarantees and similar contracts | 13,787 | 11,061 |
Cash flows payable under financial liabilities and other contractual commitments | 152,822 | 144,631 |
HSBC Holdings | Due over 3 months but not more than 1 year | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Amounts owed to HSBC undertakings | 0 | 0 |
Financial liabilities designated at fair value | 1,412 | 784 |
Derivatives | 2 | 0 |
Debt securities in issue | 3,354 | 1,137 |
Subordinated liabilities | 726 | 718 |
Other financial liabilities | 370 | 365 |
Cash flows payable under financial liabilities | 5,864 | 3,004 |
Loan and other credit-related commitments | 0 | 0 |
Financial guarantees and similar contracts | 0 | 0 |
Cash flows payable under financial liabilities and other contractual commitments | 5,864 | 3,004 |
HSBC Holdings | 1 to 5 years | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Amounts owed to HSBC undertakings | 0 | 0 |
Financial liabilities designated at fair value | 9,110 | 14,776 |
Derivatives | 0 | 105 |
Debt securities in issue | 31,567 | 38,690 |
Subordinated liabilities | 7,513 | 5,743 |
Other financial liabilities | 0 | 0 |
Cash flows payable under financial liabilities | 48,190 | 59,314 |
Loan and other credit-related commitments | 0 | 0 |
Financial guarantees and similar contracts | 0 | 0 |
Cash flows payable under financial liabilities and other contractual commitments | 48,190 | 59,314 |
HSBC Holdings | More than 5 years | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Amounts owed to HSBC undertakings | 0 | 0 |
Financial liabilities designated at fair value | 16,104 | 18,184 |
Derivatives | 0 | 78 |
Debt securities in issue | 37,103 | 25,310 |
Subordinated liabilities | 21,552 | 21,533 |
Other financial liabilities | 36 | 0 |
Cash flows payable under financial liabilities | 74,795 | 65,105 |
Loan and other credit-related commitments | 0 | 0 |
Financial guarantees and similar contracts | 0 | 0 |
Cash flows payable under financial liabilities and other contractual commitments | $ 74,795 | $ 65,105 |
Report Of The Directors Fina_48
Report Of The Directors Financial Review Risk Report - Fair Value Of Equity Securities (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of financial assets [line items] | ||
Financial assets | $ 2,880,751 | $ 2,621,427 |
Report of Directors Corporate_3
Report of Directors Corporate Governance - Single figure of remuneration (Details) - GBP (£) | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | Feb. 21, 2020 | |
Disclosure of transactions between related parties [line items] | ||||
Share price on date of grant (in gbp per share) | £ 5.622 | |||
Noel Quinn | ||||
Disclosure of transactions between related parties [line items] | ||||
Base salary | £ 1,266,000 | £ 503,000 | ||
Fixed pay allowance | 1,700,000 | 695,000 | ||
Cash in lieu of pension | 127,000 | 50,000 | ||
Taxable benefits | 186,000 | 41,000 | ||
Non-taxable benefits | 59,000 | 23,000 | ||
Total fixed | 3,338,000 | 1,312,000 | ||
Annual incentive waived | 799,000 | |||
Annual incentive | 665,000 | |||
Notional returns | 17,000 | 0 | ||
Replacement award | 0 | 0 | ||
Total variable | 816,000 | 665,000 | ||
Total fixed and variable | £ 4,154,000 | £ 1,977,000 | ||
Percentage of annual incentive award in cash | 50.00% | |||
Percentage of annual incentive award deferred in shares | 50.00% | 60.00% | ||
Shares vesting retention period | 1 year | |||
Percentage of basic salary donated to charitable donations | 12.50% | |||
Ewen Stevenson | ||||
Disclosure of transactions between related parties [line items] | ||||
Base salary | £ 738,000 | £ 719,000 | ||
Fixed pay allowance | 950,000 | 950,000 | ||
Cash in lieu of pension | 74,000 | 107,000 | ||
Taxable benefits | 12,000 | 16,000 | ||
Non-taxable benefits | 32,000 | 28,000 | ||
Total fixed | 1,806,000 | 1,820,000 | ||
Annual incentive waived | 450,000 | |||
Annual incentive | 1,082,000 | |||
Notional returns | 0 | 0 | ||
Replacement award | 1,431,000 | 1,974,000 | ||
Total variable | 1,881,000 | 3,056,000 | ||
Total fixed and variable | £ 3,687,000 | 4,876,000 | ||
Percentage of annual incentive award in cash | 50.00% | |||
Percentage of annual incentive award deferred in shares | 50.00% | |||
Shares vesting retention period | 1 year | |||
Percentage of basic salary donated to charitable donations | 12.50% | |||
2015 LTI Award | Ewen Stevenson | ||||
Disclosure of transactions between related parties [line items] | ||||
Long-term incentive | 1,121,308 | |||
2016 LTI Award | Ewen Stevenson | ||||
Disclosure of transactions between related parties [line items] | ||||
Long-term incentive | £ 852,652 | |||
Performance assessment outcome, percentage | 27.50% | |||
2017 LTI Award | Ewen Stevenson | ||||
Disclosure of transactions between related parties [line items] | ||||
Performance assessment outcome, percentage | 56.25% | |||
Replacement Awards, Performance Period Ending 2017 | Ewen Stevenson | ||||
Disclosure of transactions between related parties [line items] | ||||
Performance assessment outcome, percentage | 78.09% | |||
Replacement award (in shares) | 313,608 | |||
Share price on date of grant (in gbp per share) | £ 6.643 | |||
Share price on date when awards ceased to be subject of performance conditions (in gbp per share) | £ 5.845 |
Report of Directors Corporate_4
Report of Directors Corporate Governance - Notes to the single figure of remuneration - Benefits (Details) - Noel Quinn - GBP (£) £ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of transactions between related parties [line items] | ||
Insurance benefit (non-taxable) | £ 51 | £ 0 |
Car benefit | £ 139 | £ 0 |
Report of Directors Corporate_5
Report of Directors Corporate Governance - Determining executive Directors’ annual performance (Details) £ in Thousands, $ in Millions | 12 Months Ended | ||
Dec. 31, 2020GBP (£)pointtpaymentHolidaymortgage_loan | Dec. 31, 2020USD ($)pointtpaymentHolidaymortgage_loan | Dec. 31, 2019GBP (£)point | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Percentage of employees equipped to work from home | 85.00% | 85.00% | |
Customer satisfaction, capital markets financing raised by customers | $ 1,890,000 | ||
Customer satisfaction, financing arranged through social and covid-19 relief bonds | $ 125,000 | ||
Employer advocacy, as a measure of employee engagement, 2020 actual | 72.00% | 72.00% | |
Employee engagement, percentage of response of covid-19 survey | 50.00% | 50.00% | |
Employee engagement, percentage of employees getting information needed | 89.00% | 89.00% | |
Employee engagement, percentage of employees getting support needed | 86.00% | 86.00% | |
Employee engagement, percentage of employees believing in HSBC values their well-being | 75.00% | 75.00% | |
Employee engagement, percentage of employees confident in leadership | 86.00% | 86.00% | |
Percentage of female representation at Senior Management level, actual | 30.00% | 30.00% | |
Environment, carbon emission per FTE, actual (in tonnes) | t | 1.76 | 1.76 | |
Environment, carbon emission per FTE, target (in tonnes) | t | 2 | 2 | |
Environment, sustainable finance, target | $ 24,000 | ||
Environment, percentage of sustainability training completed | 93.00% | 93.00% | |
Personal Customers | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Payment holidays granted | paymentHoliday | 720,000 | 720,000 | |
Customer satisfaction, relief provided | $ 26,000 | ||
Wholesale Customers | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Loans granted | mortgage_loan | 237,000 | 237,000 | |
Customer satisfaction, lending provided | $ 52,000 | ||
Bottom of range | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Percentage of branches open for business | 70.00% | 70.00% | |
Top of range | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Percentage of branches open for business | 90.00% | 90.00% | |
Global Banking and Markets | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Customer satisfaction, global net promoter score | point | 48 | 48 | 38 |
Customer satisfaction, global competitor score | point | 40 | 40 | |
Customer satisfaction, global digital satisfaction score | 64.00% | 64.00% | |
Customer satisfaction, global competitor digital satisfaction score | 36.00% | 36.00% | |
Commercial Banking | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Retail customer satisfaction, percent of markets with improved digital satisfaction scores | 85.71% | 85.71% | |
Retail customer satisfaction, percent of markets with improved customer satisfaction scores | 57.14% | 57.14% | |
Wealth and Personal Banking | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Retail customer satisfaction, percent of markets ranked in top three | 85.71% | 85.71% | |
Retail customer satisfaction, percent of markets with improved digital satisfaction scores | 42.86% | 42.86% | |
Noel Quinn | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Maximum annual incentive opportunity (%) | 195.00% | 195.00% | |
Annual incentive | £ | £ 665 | ||
Ewen Stevenson | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Maximum annual incentive opportunity (%) | 191.00% | 191.00% | |
Annual incentive | £ | £ 1,082 | ||
Profit before tax | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Financial measure, performance | $ 14,770 | ||
Profit before tax | Bottom of range | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Financial measure, payout | 19,910 | ||
Profit before tax | Top of range | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Financial measure, payout | 23,380 | ||
RWA optimisation | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Financial measure, payout | 35,000 | ||
Financial measure, performance | 51,500 | ||
Entity's stated performance objective by 2022 | 100,000 | ||
RWA optimisation | Bottom of range | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Financial measure, payout | 35,000 | ||
RWA optimisation | Top of range | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Financial measure, payout | 44,900 | ||
RWA optimisation | Global Banking and Markets | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Financial measure, payout | 37,400 | ||
RWA optimisation | Commercial Banking | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Financial measure, payout | 12,900 | ||
Cost savings | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Financial measure, performance | 1,040 | ||
Cost savings | Bottom of range | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Financial measure, payout | 1,000 | ||
Cost savings | Top of range | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Financial measure, payout | $ 1,600 | ||
Group Chief Executive | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Outcome (%) | 64.50% | 64.50% | 66.40% |
Weighting (%) | 100.00% | 100.00% | |
Maximum annual incentive opportunity | £ | £ 2,478 | ||
Annual incentive pre-cash waiver | £ | 1,598 | ||
Annual incentive | £ | £ 799 | ||
Group Chief Executive | Personal objectives | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Outcome (%) | 10.00% | 10.00% | |
Reduced outcome (%) | 32.25% | 32.25% | |
Weighting (%) | 10.00% | 10.00% | |
Assessment (%) | 100.00% | 100.00% | |
Group Chief Executive | Profit before tax | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Outcome (%) | 0.00% | 0.00% | |
Weighting (%) | 30.00% | 30.00% | |
Assessment (%) | 0.00% | 0.00% | |
Group Chief Executive | RWA optimisation | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Outcome (%) | 20.00% | 20.00% | |
Weighting (%) | 20.00% | 20.00% | |
Assessment (%) | 100.00% | 100.00% | |
Group Chief Executive | Cost savings | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Outcome (%) | 0.00% | 0.00% | |
Weighting (%) | 0.00% | 0.00% | |
Assessment (%) | 0.00% | 0.00% | |
Group Chief Executive | Customer satisfaction | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Outcome (%) | 8.00% | 8.00% | |
Weighting (%) | 10.00% | 10.00% | |
Assessment (%) | 80.00% | 80.00% | |
Group Chief Executive | Employee experience | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Outcome (%) | 9.50% | 9.50% | |
Weighting (%) | 10.00% | 10.00% | |
Assessment (%) | 95.00% | 95.00% | |
Group Chief Executive | Environment | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Outcome (%) | 8.50% | 8.50% | |
Weighting (%) | 10.00% | 10.00% | |
Assessment (%) | 85.00% | 85.00% | |
Group Chief Executive | Risk and compliance | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Outcome (%) | 8.50% | 8.50% | |
Weighting (%) | 10.00% | 10.00% | |
Assessment (%) | 85.00% | 85.00% | |
Group Chief Financial Officer | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Outcome (%) | 63.75% | 63.75% | 77.50% |
Weighting (%) | 100.00% | 100.00% | |
Maximum annual incentive opportunity | £ | £ 1,412 | ||
Annual incentive pre-cash waiver | £ | 900 | ||
Annual incentive | £ | £ 450 | ||
Reducing finance function costs, target | $ 800 | ||
Group Chief Financial Officer | Personal objectives | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Outcome (%) | 6.25% | 6.25% | |
Reduced outcome (%) | 31.88% | 31.88% | |
Weighting (%) | 10.00% | 10.00% | |
Assessment (%) | 62.50% | 62.50% | |
Group Chief Financial Officer | Profit before tax | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Outcome (%) | 0.00% | 0.00% | |
Weighting (%) | 20.00% | 20.00% | |
Assessment (%) | 0.00% | 0.00% | |
Group Chief Financial Officer | RWA optimisation | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Outcome (%) | 20.00% | 20.00% | |
Weighting (%) | 20.00% | 20.00% | |
Assessment (%) | 100.00% | 100.00% | |
Group Chief Financial Officer | Cost savings | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Outcome (%) | 3.00% | 3.00% | |
Weighting (%) | 10.00% | 10.00% | |
Assessment (%) | 30.00% | 30.00% | |
Group Chief Financial Officer | Customer satisfaction | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Outcome (%) | 8.00% | 8.00% | |
Weighting (%) | 10.00% | 10.00% | |
Assessment (%) | 80.00% | 80.00% | |
Group Chief Financial Officer | Employee experience | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Outcome (%) | 9.50% | 9.50% | |
Weighting (%) | 10.00% | 10.00% | |
Assessment (%) | 95.00% | 95.00% | |
Group Chief Financial Officer | Environment | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Outcome (%) | 8.50% | 8.50% | |
Weighting (%) | 10.00% | 10.00% | |
Assessment (%) | 85.00% | 85.00% | |
Group Chief Financial Officer | Risk and compliance | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Outcome (%) | 8.50% | 8.50% | |
Weighting (%) | 10.00% | 10.00% | |
Assessment (%) | 85.00% | 85.00% |
Report of Directors Corporate_6
Report of Directors Corporate Governance - Assessment of the LTI Award (Details) | 3 Months Ended | 12 Months Ended | 36 Months Ended | |
Dec. 31, 2020GBP (£)£ / shares | Dec. 31, 2020GBP (£) | Dec. 31, 2019 | Dec. 31, 2020GBP (£)USD ($) | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Average daily closing share price (gbp per share) | £ / shares | £ 3.604 | |||
Long-Term Incentive Awards | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Performance period | 3 years | 3 years | ||
Long-Term Incentive Awards | Tranche 1 | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Vesting percentage | 20.00% | |||
Long-Term Incentive Awards | Tranche 2 | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Vesting percentage | 20.00% | |||
Long-Term Incentive Awards | Tranche 3 | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Vesting percentage | 20.00% | |||
Long-Term Incentive Awards | Tranche 4 | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Vesting percentage | 20.00% | |||
Long-Term Incentive Awards | Tranche 5 | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Vesting percentage | 20.00% | |||
2017 LTI Award | Long-Term Incentive Awards | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Outcome | 22.50% | |||
2017 LTI Award | Long-Term Incentive Awards | Iain Mackay | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Shares vested (in shares) | $ | 29,655 | |||
Face value awarded | £ | £ 106,877 | £ 106,877 | £ 106,877 | |
2017 LTI Award | Long-Term Incentive Awards | Marc Moses | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Shares vested (in shares) | $ | 86,491 | |||
Face value awarded | £ | £ 311,714 | £ 311,714 | £ 311,714 | |
2017 LTI Award | Average return on equity | Long-Term Incentive Awards | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Weighting | 20.00% | |||
Payout percentage | 10.00% | |||
Actual | 7.30% | |||
Assessment | 0.00% | |||
Outcome | 0.00% | |||
2017 LTI Award | Average return on equity | Long-Term Incentive Awards | Bottom of range | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Payout percentage | 9.00% | |||
2017 LTI Award | Average return on equity | Long-Term Incentive Awards | Top of range | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Payout percentage | 11.00% | |||
2017 LTI Award | Cost efficiency | Long-Term Incentive Awards | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Weighting | 20.00% | |||
Payout percentage | 58.00% | |||
Actual | 62.40% | |||
Assessment | 0.00% | |||
Outcome | 0.00% | |||
2017 LTI Award | Cost efficiency | Long-Term Incentive Awards | Bottom of range | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Payout percentage | 60.00% | |||
2017 LTI Award | Cost efficiency | Long-Term Incentive Awards | Top of range | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Payout percentage | 55.50% | |||
2017 LTI Award | Relative total shareholder return | Long-Term Incentive Awards | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Weighting | 20.00% | |||
Assessment | 0.00% | |||
Outcome | 0.00% | |||
2017 LTI Award | Risk and compliance | Long-Term Incentive Awards | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Weighting | 25.00% | |||
Actual | 65.00% | |||
Assessment | 65.00% | |||
Outcome | 16.25% | |||
Performance period | 3 years | |||
2017 LTI Award | Strategy | Long-Term Incentive Awards | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Weighting | 15.00% | |||
2017 LTI Award | Strategy, sustainable finance | Long-Term Incentive Awards | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Payout percentage | 3400000000000.00% | |||
Actual | 9300000000000.00% | |||
Assessment | 100.00% | |||
Outcome | 5.00% | |||
2017 LTI Award | Strategy, sustainable finance | Long-Term Incentive Awards | Bottom of range | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Payout percentage | 3000000000000.00% | |||
2017 LTI Award | Strategy, sustainable finance | Long-Term Incentive Awards | Top of range | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Payout percentage | 3700000000000.00% | |||
2017 LTI Award | Strategy, employee confidence | Long-Term Incentive Awards | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Payout percentage | 67.00% | |||
Actual | 62.00% | |||
Assessment | 0.00% | |||
Outcome | 0.00% | |||
2017 LTI Award | Strategy, employee confidence | Long-Term Incentive Awards | Bottom of range | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Payout percentage | 65.00% | |||
2017 LTI Award | Strategy, employee confidence | Long-Term Incentive Awards | Top of range | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Payout percentage | 70.00% | |||
2017 LTI Award | Strategy, customer | Long-Term Incentive Awards | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Assessment | 25.00% | |||
Outcome | 1.25% |
Report of Directors Corporate_7
Report of Directors Corporate Governance - Long-term incentive awards (Details) $ in Billions | 12 Months Ended | |||
Dec. 31, 2020GBP (£) | Dec. 31, 2020USD ($) | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Customer, performance period | 3 years | |||
Customer, performance period | 3 years | |||
Noel Quinn | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Expense from share-based payment transactions with employees | £ | £ 3,718,000 | |||
Ewen Stevenson | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Expense from share-based payment transactions with employees | £ | £ 2,118,000 | |||
Bottom of range | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Estimated future investments | $ 750 | |||
Top of range | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Estimated future investments | $ 1,000 | |||
Long-Term Incentive Awards | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Performance period | 3 years | 3 years | 3 years | |
Return on tangible equity (with CET1 underpin) | 9.00% | 9.00% | 11.00% | 11.00% |
Capital reallocation to Asia | 47.00% | 47.00% | ||
Environment and sustainability, carbon reduction | 48.00% | 48.00% | ||
Environment and sustainability, sustainable finance and investment | $ 240 | |||
Employer advocacy percent | 70.00% | |||
Long-Term Incentive Awards | Return on tangible equity | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Metric weighting percent | 25.00% | 25.00% | 33.30% | 75.00% |
Long-Term Incentive Awards | Capital reallocation to Asia | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Metric weighting percent | 25.00% | 25.00% | ||
Long-Term Incentive Awards | Environment and sustainability | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Metric weighting percent | 25.00% | 25.00% | ||
Long-Term Incentive Awards | Relative TSR | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Metric weighting percent | 25.00% | 25.00% | 33.30% | |
Long-Term Incentive Awards | Employer advocacy | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Metric weighting percent | 12.50% | |||
Long-Term Incentive Awards | Environmental, social and governance rank | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Metric weighting percent | 12.50% | |||
Long-Term Incentive Awards | Customers | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Metric weighting percent | 33.30% | |||
Long-Term Incentive Awards | Bottom of range | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Return on tangible equity (with CET1 underpin) | 8.00% | 8.00% | 10.00% | 10.00% |
Capital reallocation to Asia | 45.00% | 45.00% | ||
Environment and sustainability, carbon reduction | 42.00% | 42.00% | ||
Environment and sustainability, sustainable finance and investment | $ 200 | |||
Employer advocacy percent | 65.00% | |||
Long-Term Incentive Awards | Top of range | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Return on tangible equity (with CET1 underpin) | 10.00% | 10.00% | 12.00% | 12.00% |
Capital reallocation to Asia | 50.00% | 50.00% | ||
Environment and sustainability, carbon reduction | 51.00% | 51.00% | ||
Environment and sustainability, sustainable finance and investment | $ 260 | |||
Employer advocacy percent | 75.00% | |||
Long-Term Incentive Awards | Tranche 1 | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Vesting percentage | 20.00% | 20.00% | ||
Long-Term Incentive Awards | Tranche 2 | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Vesting percentage | 20.00% | 20.00% | ||
Long-Term Incentive Awards | Tranche 3 | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Vesting percentage | 20.00% | 20.00% | ||
Long-Term Incentive Awards | Tranche 4 | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Vesting percentage | 20.00% | 20.00% | ||
Long-Term Incentive Awards | Tranche 5 | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Vesting percentage | 20.00% | 20.00% |
Report of Directors Corporate_8
Report of Directors Corporate Governance - Scheme interests awarded (Details) £ / shares in Units, £ in Thousands | Feb. 24, 2020GBP (£)shares | Dec. 31, 2020£ / shares | Dec. 31, 2019 | Feb. 21, 2020£ / shares |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Closing share price (in gbp per share) | £ / shares | £ 5.622 | |||
LTI deferred shares | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Performance period | 3 years | |||
Retention period | 1 year | |||
Top of range | LTI deferred shares | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Claw-back period | 10 years | |||
Ewen Stevenson | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Percentage of annual incentive award deferred in shares | 50.00% | |||
Ewen Stevenson | LTI deferred shares | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Face value awarded | £ | £ 2,680 | |||
Percentage receivable for minimum performance | 25.00% | |||
Number of shares awarded (in shares) | shares | 476,757 | |||
Award as a percentage of base salary | 290.00% | |||
Expected dividend yield | 5.00% | |||
Expected dividend yield (in gbp per share) | £ / shares | £ 4.393 | |||
Ewen Stevenson | LTI deferred shares | Tranche 1 | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Vesting percentage | 20.00% | |||
Ewen Stevenson | LTI deferred shares | Tranche 2 | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Vesting percentage | 20.00% | |||
Ewen Stevenson | LTI deferred shares | Tranche 3 | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Vesting percentage | 20.00% | |||
Ewen Stevenson | LTI deferred shares | Tranche 4 | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Vesting percentage | 20.00% | |||
Ewen Stevenson | LTI deferred shares | Tranche 5 | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Vesting percentage | 20.00% | |||
Noel Quinn | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Percentage of annual incentive award deferred in shares | 50.00% | 60.00% | ||
Noel Quinn | Deferred shares | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Face value awarded | £ | £ 1,134 | |||
Percentage receivable for minimum performance | 0.00% | |||
Number of shares awarded (in shares) | shares | 201,702 | |||
Retention period | 1 year | |||
Expected dividend yield | 5.00% | |||
Expected dividend yield (in gbp per share) | £ / shares | £ 4.393 | |||
Noel Quinn | Deferred shares | Tranche 1 | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Vesting percentage | 20.00% | |||
Noel Quinn | Deferred shares | Tranche 2 | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Vesting percentage | 20.00% | |||
Noel Quinn | Deferred shares | Tranche 3 | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Vesting percentage | 20.00% | |||
Noel Quinn | Deferred shares | Tranche 4 | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Vesting percentage | 20.00% | |||
Noel Quinn | Deferred shares | Tranche 5 | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Vesting percentage | 20.00% | |||
Noel Quinn | Deferred cash | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Face value awarded | £ | £ 886 | |||
Percentage receivable for minimum performance | 0.00% |
Report of Directors Corporate_9
Report of Directors Corporate Governance - Executive Directors' interests in shares (Details) | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2020shares£ / shares | Dec. 31, 2020shares | Dec. 31, 2019shares | Dec. 31, 2018shares | |
Disclosure of transactions between related parties [line items] | ||||
Share options (in shares) | 130,952,000 | 130,952,000 | 65,060,000 | 57,065,000 |
Average daily closing share price (gbp per share) | £ / shares | £ 3.604 | |||
Period after appointment to meet minimum shareholding guideline | 5 years | |||
Noel Quinn | ||||
Disclosure of transactions between related parties [line items] | ||||
Shareholding guidelines, percentage of salary | 400.00% | |||
Shareholding, percentage of salary | 221.00% | 221.00% | ||
Share interests (in shares) | 778,958 | 778,958 | ||
Share options (in shares) | 0 | 0 | ||
Ewen Stevenson | ||||
Disclosure of transactions between related parties [line items] | ||||
Shareholding guidelines, percentage of salary | 300.00% | |||
Shareholding, percentage of salary | 265.00% | 265.00% | ||
Share interests (in shares) | 545,731 | 545,731 | ||
Share options (in shares) | 0 | 0 | ||
Group Managing Directors | ||||
Disclosure of transactions between related parties [line items] | ||||
Shareholding guidelines, percentage of salary | 250.00% | |||
Shareholding guidelines, number of shares (in shares) | 250,000 | |||
Long-Term Incentive Awards, Without Performance Conditions | ||||
Disclosure of transactions between related parties [line items] | ||||
Period of tenure required for no performance conditions for Directors who cease employment as good leaver | 5 years | |||
Shareholding guidelines, percentage of salary | 400.00% | |||
Target payout | 50.00% | |||
Long-Term Incentive Awards, With Performance Conditions | ||||
Disclosure of transactions between related parties [line items] | ||||
Period of continuing release of granted awards after Director ceases employment as a good leaver (up to) | 8 years | |||
Deferred Shares, Without Performance Conditions | Noel Quinn | ||||
Disclosure of transactions between related parties [line items] | ||||
Share options (in shares) | 554,556 | 554,556 | ||
Deferred Shares, Without Performance Conditions | Ewen Stevenson | ||||
Disclosure of transactions between related parties [line items] | ||||
Share options (in shares) | 728,790 | 728,790 | ||
Deferred Shares, With Performance Conditions | Noel Quinn | ||||
Disclosure of transactions between related parties [line items] | ||||
Share options (in shares) | 0 | 0 | ||
Deferred Shares, With Performance Conditions | Ewen Stevenson | ||||
Disclosure of transactions between related parties [line items] | ||||
Share options (in shares) | 476,757 | 476,757 | ||
Shares delivered to executive Directors as part of the FPA | ||||
Disclosure of transactions between related parties [line items] | ||||
Retention period | 5 years | |||
Shares delivered as part of annual incentive award | ||||
Disclosure of transactions between related parties [line items] | ||||
Retention period | 1 year |
Report of Directors Corporat_10
Report of Directors Corporate Governance - Non Executive Directors' Fees and Benefits (Details) | 1 Months Ended | 12 Months Ended | |
Dec. 31, 2019HKD ($) | Dec. 31, 2020GBP (£) | Dec. 31, 2019GBP (£) | |
Disclosure of transactions between related parties [line items] | |||
Fees | £ 6,919,000 | £ 6,390,000 | |
Benefits | 171,000 | 453,000 | |
Total | 7,090,000 | 6,843,000 | |
Travel allowance | £ 4,000 | ||
Tax rate | 45.00% | ||
Total non-executive directors | |||
Disclosure of transactions between related parties [line items] | |||
Fees | £ 5,394,000 | 4,982,000 | |
Benefits | 133,000 | 353,000 | |
Total | 5,527,000 | 5,335,000 | |
Kathleen Casey | |||
Disclosure of transactions between related parties [line items] | |||
Fees | 78,000 | 223,000 | |
Benefits | 27,000 | 9,000 | |
Total | 105,000 | 232,000 | |
Laura Cha | |||
Disclosure of transactions between related parties [line items] | |||
Fees | 587,000 | 298,000 | |
Benefits | 0 | 0 | |
Total | 587,000 | 298,000 | |
Fees paid for additional positions held | $ 201,639 | 423,800 | 104,000 |
Henri de Castries | |||
Disclosure of transactions between related parties [line items] | |||
Fees | 202,000 | 194,000 | |
Benefits | 1,000 | 4,000 | |
Total | 203,000 | 198,000 | |
James Forese | |||
Disclosure of transactions between related parties [line items] | |||
Fees | 160,000 | 0 | |
Benefits | 0 | 0 | |
Total | 160,000 | 0 | |
Steven Guggenheimer | |||
Disclosure of transactions between related parties [line items] | |||
Fees | 134,000 | 0 | |
Benefits | 0 | 0 | |
Total | 134,000 | 0 | |
Irene Lee | |||
Disclosure of transactions between related parties [line items] | |||
Fees | 546,000 | 454,000 | |
Benefits | 0 | 3,000 | |
Total | 546,000 | 457,000 | |
Fees paid for additional positions held | 344,000 | 260,000 | |
José Antonio Meade Kuribreña | |||
Disclosure of transactions between related parties [line items] | |||
Fees | 202,000 | 157,000 | |
Benefits | 4,000 | 2,000 | |
Total | 206,000 | 159,000 | |
Heidi Miller | |||
Disclosure of transactions between related parties [line items] | |||
Fees | 632,000 | 625,000 | |
Benefits | 7,000 | 2,000 | |
Total | 639,000 | 627,000 | |
Fees paid for additional positions held | 430,000 | 431,000 | |
Eileen Murray | |||
Disclosure of transactions between related parties [line items] | |||
Fees | 120,000 | 0 | |
Benefits | 0 | 0 | |
Total | 120,000 | 0 | |
David Nish | |||
Disclosure of transactions between related parties [line items] | |||
Fees | 480,000 | 230,000 | |
Benefits | 8,000 | 16,000 | |
Total | 488,000 | 246,000 | |
Sir Jonathan Symonds | |||
Disclosure of transactions between related parties [line items] | |||
Fees | 86,000 | 638,000 | |
Benefits | 20,000 | 21,000 | |
Total | 106,000 | 659,000 | |
Jackson Tai | |||
Disclosure of transactions between related parties [line items] | |||
Fees | 355,000 | 398,000 | |
Benefits | 12,000 | 57,000 | |
Total | 367,000 | 455,000 | |
Mark Tucker | |||
Disclosure of transactions between related parties [line items] | |||
Fees | 1,500,000 | 1,500,000 | |
Benefits | 52,000 | 231,000 | |
Total | £ 1,552,000 | 1,731,000 | |
Percentage of fees donated to charities | 100.00% | ||
Pauline van der Meer Mohr | |||
Disclosure of transactions between related parties [line items] | |||
Fees | £ 312,000 | 265,000 | |
Benefits | 2,000 | 8,000 | |
Total | £ 314,000 | £ 273,000 |
Report of Directors Corporat_11
Report of Directors Corporate Governance - Non-Executive Directors Interests in Shares (Details) | 12 Months Ended |
Dec. 31, 2020shares | |
Disclosure of transactions between related parties [line items] | |
Period after appointment to meet minimum shareholding guideline | 5 years |
Total non-executive directors | |
Disclosure of transactions between related parties [line items] | |
Period after appointment to meet minimum shareholding guideline | 5 years |
Kathleen Casey | |
Disclosure of transactions between related parties [line items] | |
Shareholding guidelines (number of shares) | 15,000 |
Share interests (number of shares) | 15,125 |
Laura Cha | |
Disclosure of transactions between related parties [line items] | |
Shareholding guidelines (number of shares) | 15,000 |
Share interests (number of shares) | 16,200 |
Henri de Castries | |
Disclosure of transactions between related parties [line items] | |
Shareholding guidelines (number of shares) | 15,000 |
Share interests (number of shares) | 19,251 |
James Forese | |
Disclosure of transactions between related parties [line items] | |
Shareholding guidelines (number of shares) | 15,000 |
Share interests (number of shares) | 115,000 |
Steven Guggenheimer | |
Disclosure of transactions between related parties [line items] | |
Shareholding guidelines (number of shares) | 15,000 |
Share interests (number of shares) | 15,000 |
Irene Lee | |
Disclosure of transactions between related parties [line items] | |
Shareholding guidelines (number of shares) | 15,000 |
Share interests (number of shares) | 11,904 |
José Antonio Meade Kuribreña | |
Disclosure of transactions between related parties [line items] | |
Shareholding guidelines (number of shares) | 15,000 |
Share interests (number of shares) | 15,000 |
Heidi Miller | |
Disclosure of transactions between related parties [line items] | |
Shareholding guidelines (number of shares) | 15,000 |
Share interests (number of shares) | 15,700 |
Eileen Murray | |
Disclosure of transactions between related parties [line items] | |
Shareholding guidelines (number of shares) | 15,000 |
Share interests (number of shares) | 75,000 |
David Nish | |
Disclosure of transactions between related parties [line items] | |
Shareholding guidelines (number of shares) | 15,000 |
Share interests (number of shares) | 50,000 |
Sir Jonathan Symonds | |
Disclosure of transactions between related parties [line items] | |
Shareholding guidelines (number of shares) | 15,000 |
Share interests (number of shares) | 43,821 |
Jackson Tai | |
Disclosure of transactions between related parties [line items] | |
Shareholding guidelines (number of shares) | 15,000 |
Share interests (number of shares) | 66,515 |
Mark Tucker | |
Disclosure of transactions between related parties [line items] | |
Shareholding guidelines (number of shares) | 15,000 |
Share interests (number of shares) | 307,352 |
Pauline van der Meer Mohr | |
Disclosure of transactions between related parties [line items] | |
Shareholding guidelines (number of shares) | 15,000 |
Share interests (number of shares) | 15,000 |
Report of Directors Corporat_12
Report of Directors Corporate Governance - Total pension entitlements (Details) | 12 Months Ended |
Dec. 31, 2020individual | |
Report Of Directors Corporate Governance [Abstract] | |
Number of executive directors entitled to additional early retirement benefits | 0 |
Normal employee retirement age | 65 years |
Report of Directors Corporat_13
Report of Directors Corporate Governance - Payments to past Directors (Details) | 12 Months Ended |
Dec. 31, 2020GBP (£) | |
Disclosure of transactions between related parties [line items] | |
Payments to key management personnel in excess of minimum threshold | £ 0 |
Former Directors | |
Disclosure of transactions between related parties [line items] | |
Payments to key management personnel in excess of minimum threshold | 0 |
Key management personnel, threshold minimum | £ 50,000 |
Report of Directors Corporat_14
Report of Directors Corporate Governance - Payments for loss of office (Details) | 12 Months Ended |
Dec. 31, 2020GBP (£) | |
Report Of Directors Corporate Governance [Abstract] | |
Key management personnel compensation, loss of office | £ 0 |
Uncategorized Items - hsbc-2020
Label | Element | Value |
Cash Collateral And Net Settlement Accounts | hsbc_CashCollateralAndNetSettlementAccounts | $ 12,376,000,000 |
Cash Collateral And Net Settlement Accounts | hsbc_CashCollateralAndNetSettlementAccounts | 17,194,000,000 |
Cash Collateral And Net Settlement Accounts | hsbc_CashCollateralAndNetSettlementAccounts | 14,075,000,000 |
Short-term Investments And Deposits, Classified As Cash Equivalents | hsbc_ShorttermInvestmentsAndDepositsClassifiedAsCashEquivalents | 30,023,000,000 |
Short-term Investments And Deposits, Classified As Cash Equivalents | hsbc_ShorttermInvestmentsAndDepositsClassifiedAsCashEquivalents | 21,685,000,000 |
Short-term Investments And Deposits, Classified As Cash Equivalents | hsbc_ShorttermInvestmentsAndDepositsClassifiedAsCashEquivalents | 20,132,000,000 |
Loans And Advances To Banks Of One Month Or Less | hsbc_LoansAndAdvancesToBanksOfOneMonthOrLess | 39,460,000,000 |
Loans And Advances To Banks Of One Month Or Less | hsbc_LoansAndAdvancesToBanksOfOneMonthOrLess | 51,788,000,000 |
Loans And Advances To Banks Of One Month Or Less | hsbc_LoansAndAdvancesToBanksOfOneMonthOrLess | 41,626,000,000 |
Other banking arrangements, classified as cash equivalents | ifrs-full_BankingArrangementsClassifiedAsCashEquivalents | 65,086,000,000 |
Other banking arrangements, classified as cash equivalents | ifrs-full_BankingArrangementsClassifiedAsCashEquivalents | 74,702,000,000 |
Other banking arrangements, classified as cash equivalents | ifrs-full_BankingArrangementsClassifiedAsCashEquivalents | 65,370,000,000 |
HSBC Holdings [Member] | ||
Short-term investments, classified as cash equivalents | ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents | 3,014,000,000 |
Short-term investments, classified as cash equivalents | ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents | 0 |
Short-term investments, classified as cash equivalents | ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents | 3,496,000,000 |
Loans And Advances To Banks Of One Month Or Less | hsbc_LoansAndAdvancesToBanksOfOneMonthOrLess | 249,000,000 |
Loans And Advances To Banks Of One Month Or Less | hsbc_LoansAndAdvancesToBanksOfOneMonthOrLess | 4,548,000,000 |
Loans And Advances To Banks Of One Month Or Less | hsbc_LoansAndAdvancesToBanksOfOneMonthOrLess | $ 102,000,000 |
HSBC Holdings [Member] | Fair value hedges [member] | ||
Disclosure of derivative financial instruments [text block] | ifrs-full_DisclosureOfDerivativeFinancialInstrumentsExplanatory | Hedge accounting derivatives HSBC applies hedge accounting to manage the following risks: interest rate, foreign exchange and net investment in foreign operations. Further details on how these risks arise and how they are managed by the Group can be found in the ‘Risk review’. Fair value hedges HSBC enters into fixed-for-floating-interest-rate swaps to manage the exposure to changes in fair value caused by movements in market interest rates on certain fixed-rate financial instruments that are not measured at fair value through profit or loss, including debt securities held and issued. HSBC hedging instrument by hedged risk Hedging instrument Carrying amount Notional amount 1 Assets Liabilities Balance sheet presentation Change in fair value 2 Hedged risk $m $m $m $m Interest rate 3 121,573 1,675 3,761 Derivatives (1,894) At 31 Dec 2020 121,573 1,675 3,761 (1,894) Interest rate 3 122,753 1,056 2,208 Derivatives (1,531) At 31 Dec 2019 122,753 1,056 2,208 (1,531) 1 The notional contract amounts of derivatives designated in qualifying hedge accounting relationships indicate the nominal value of transactions outstanding at the balance sheet date. They do not represent amounts at risk. 2 Used in effectiveness testing; comprising the full fair value change of the hedging instrument not excluding any component. 3 The hedged risk ‘interest rate’ includes inflation risk. HSBC hedged item by hedged risk Hedged item Ineffectiveness Carrying amount Accumulated fair value hedge adjustments included in carrying amount 2 Change in fair value 1 Recognised in profit and loss Assets Liabilities Assets Liabilities Balance sheet presentation Profit and loss presentation Hedged risk $m $m $m $m $m $m Interest rate 3 102,260 3,392 Financial assets designated and otherwise mandatorily measured at fair value through other comprehensive income 2,456 (11) Net income from financial instruments held for trading or managed on a fair value basis 6 3 Loans and advances to banks 1 2,280 56 Loans and advances to customers 21 12,148 1,620 Debt securities in issue (613) 89 3 Deposits by banks 18 At 31 Dec 2020 104,546 12,237 3,451 1,623 1,883 (11) HSBC hedged item by hedged risk (continued) Hedged item Ineffectiveness Carrying amount Accumulated fair value hedge adjustments included in carrying amount 2 Change in fair value 1 Recognised in profit and loss Assets Liabilities Assets Liabilities Balance sheet presentation Profit and loss presentation Hedged risk $m $m $m $m $m $m Interest rate 3 90,617 1,859 Financial assets designated and otherwise mandatorily measured at fair value through other comprehensive income 2,304 (7) Net income from financial instruments held for trading or managed on a fair value basis 153 4 Loans and advances to banks 5 1,897 12 Loans and advances to customers 24 15,206 797 Debt securities in issue (1,011) 3,009 39 Deposits by banks 202 At 31 Dec 2019 92,667 18,215 1,875 836 1,524 (7) 1 Used in effectiveness testing; comprising amount attributable to the designated hedged risk that can be a risk component. 2 The accumulated amount of fair value adjustments remaining in the statement of financial position for hedged items that have ceased to be adjusted for hedging gains and losses were assets of $855m for FVOCI and assets of $17m for debt issued. 3 The hedged risk ‘interest rate’ includes inflation risk. HSBC Holdings hedging instrument by hedged risk Hedging instrument Carrying amount Notional amount 1,4 Assets Liabilities Balance sheet presentation Change in fair value 2 Hedged risk $m $m $m $m Interest rate 3 34,006 3,221 8 Derivatives 1,927 At 31 Dec 2020 34,006 3,221 8 1,927 Interest rate 3 36,769 1,406 183 Derivatives 1,704 At 31 Dec 2019 36,769 1,406 183 1,704 1 The notional contract amounts of derivatives designated in qualifying hedge accounting relationships indicate the nominal value of transactions outstanding at the balance sheet date; they do not represent amounts at risk. 2 Used in effectiveness testing; comprising the full fair value change of the hedging instrument not excluding any component. 3 The hedged risk ‘interest rate’ includes foreign exchange risk. 4 The notional amount of non-dynamic fair value hedges is equal to $34,006m, of which the weighted-average maturity date is February 2028 and the weighted-average swap rate is 1.71%. The majority of these hedges are internal to the Group. HSBC Holdings hedged item by hedged risk Hedged item Ineffectiveness Carrying amount Accumulated fair value hedge adjustments included in carrying amount 2 Change in fair value 1 Recognised in Assets Liabilities Assets Liabilities Balance sheet presentation Profit and loss Hedged risk $m $m $m $m $m $m Interest rate 3 37,338 3,027 Debt securities in issue (1,910) 17 Net income from financial instruments held for trading or managed on a fair value basis At 31 Dec 2020 — 37,338 — 3,027 (1,910) 17 Interest rate 3 38,126 1,088 Debt securities (1,697) 7 Net income from financial instruments held for trading or managed on a fair value basis At 31 Dec 2019 — 38,126 — 1,088 (1,697) 7 1 Used in effectiveness testing; comprising amount attributable to the designated hedged risk that can be a risk component. 2 The accumulated amount of fair value adjustments remaining in the statement of financial position for hedged items that have ceased to be adjusted for hedging gains and losses were liabilities of $62.8m for debt issued. 3 The hedged risk ‘interest rate’ includes foreign exchange risk. Sources of hedge ineffectiveness may arise from basis risk, including but not limited to the discount rates used for calculating the fair value of derivatives, hedges using instruments with a non-zero fair value, and notional and timing differences between the hedged items and hedging instruments. For some debt securities held, HSBC manages interest rate risk in a dynamic risk management strategy. The assets in scope of this strategy are high-quality fixed-rate debt securities, which may be sold to meet liquidity and funding requirements. The interest rate risk of the HSBC fixed-rate debt securities issued is managed in a non-dynamic risk management strategy. |