Last checked at 18 Mar 2016 17:06
HSBC
Maturity analysis of assets and liabilities
Due not more than 1 month | Due over 1 month but not more than 3 months | Due over 3 months but not more than 6 months | Due over 6 months but not more than 9 months | Due over 9 months but not more than 1 year | Due over 1 year but not more than 2 years | Due over 2 years but not more than 5 years | Due over 5 years | Total | ||||||||||
$m | $m | $m | $m | $m | $m | $m | $m | $m | ||||||||||
Financial assets | ||||||||||||||||||
Cash and balances at central banks | 98,934 | − | − | − | − | − | − | − | 98,934 | |||||||||
Items in the course of collection from other banks | 5,768 | − | − | − | − | − | − | − | 5,768 | |||||||||
Hong Kong Government certificates of indebtedness | 28,410 | − | − | − | − | − | − | − | 28,410 | |||||||||
Trading assets | 224,691 | 34 | − | − | − | 112 | − | − | 224,837 | |||||||||
- reverse repos | 292 | 34 | − | − | − | 112 | − | − | 438 | |||||||||
- other trading assets | 224,399 | − | − | − | − | − | − | − | 224,399 | |||||||||
Financial assets designated at fair value | 429 | 194 | 222 | 83 | 390 | 896 | 2,603 | 19,035 | 23,852 | |||||||||
Derivatives | 285,797 | 215 | 223 | 198 | 33 | 499 | 841 | 670 | 288,476 | |||||||||
- trading | 285,678 | − | − | − | − | − | − | − | 285,678 | |||||||||
- non-trading | 119 | 215 | 223 | 198 | 33 | 499 | 841 | 670 | 2,798 | |||||||||
Loans and advances to banks | 57,296 | 14,530 | 4,063 | 1,964 | 2,499 | 5,134 | 3,274 | 1,641 | 90,401 | |||||||||
Loans and advances to customers | 176,862 | 69,638 | 54,730 | 33,095 | 34,774 | 81,560 | 201,253 | 272,542 | 924,454 | |||||||||
- personal | 39,191 | 8,328 | 8,510 | 7,457 | 9,350 | 22,438 | 57,283 | 218,646 | 371,203 | |||||||||
- corporate and commercial | 123,901 | 54,711 | 40,489 | 21,081 | 21,811 | 50,355 | 131,166 | 49,564 | 493,078 | |||||||||
- financial | 13,770 | 6,599 | 5,731 | 4,557 | 3,613 | 8,767 | 12,804 | 4,332 | 60,173 | |||||||||
Reverse repurchase agreements - non-trading | 110,478 | 21,978 | 7,220 | 2,786 | 580 | 2,985 | 228 | − | 146,255 | |||||||||
Financial investments | 35,104 | 59,098 | 36,897 | 19,102 | 17,293 | 48,634 | 94,549 | 118,278 | 428,955 | |||||||||
Assets held for sale | 15,816 | 2,628 | 2,544 | 1,218 | 2,611 | 4,675 | 6,365 | 4,422 | 40,279 | |||||||||
Accrued income and other financial assets | 12,732 | 6,682 | 1,995 | 483 | 395 | 463 | 445 | 2,115 | 25,310 | |||||||||
Financial assets at 31 December 2015 | 1,052,317 | 174,997 | 107,894 | 58,929 | 58,575 | 144,958 | 309,558 | 418,703 | 2,325,931 | |||||||||
Non-financial assets | − | − | − | − | − | − | − | 83,725 | 83,725 | |||||||||
Total assets at 31 December 2015 | 1,052,317 | 174,997 | 107,894 | 58,929 | 58,575 | 144,958 | 309,558 | 502,428 | 2,409,656 |
Maturity analysis of assets and liabilities (continued)
Due not more than 1 month | Due over 1 month but not more than 3 months | Due over 3 months but not more than 6 months | Due over 6 months but not more than 9 months | Due over 9 months but not more than 1 year | Due over 1 year but not more than 2 years | Due over 2 years but not more than 5 years | Due over 5 years | Total | ||||||||||
$m | $m | $m | $m | $m | $m | $m | $m | $m | ||||||||||
Financial liabilities | ||||||||||||||||||
Hong Kong currency notes in circulation | 28,410 | − | − | − | − | − | − | − | 28,410 | |||||||||
Deposits by banks | 46,693 | 2,225 | 1,049 | 325 | 116 | 712 | 3,182 | 69 | 54,371 | |||||||||
Customer accounts1 | 1,185,091 | 50,831 | 21,397 | 10,421 | 10,869 | 6,596 | 3,852 | 529 | 1,289,586 | |||||||||
- personal | 574,468 | 27,646 | 13,032 | 7,371 | 7,990 | 3,566 | 2,920 | 354 | 637,347 | |||||||||
- corporate and commercial | 459,813 | 18,802 | 7,314 | 2,479 | 2,495 | 2,926 | 828 | 156 | 494,813 | |||||||||
- financial | 150,810 | 4,383 | 1,051 | 571 | 384 | 104 | 104 | 19 | 157,426 | |||||||||
Repurchase agreements - non-trading | 73,478 | 3,788 | 1,816 | 164 | 154 | − | 500 | 500 | 80,400 | |||||||||
Items in the course of transmission to other banks | 5,638 | − | − | − | − | − | − | − | 5,638 | |||||||||
Trading liabilities | 111,691 | 1,471 | 1,529 | 882 | 2,184 | 4,344 | 10,105 | 9,408 | 141,614 | |||||||||
- repos | 77 | 365 | − | − | − | − | − | − | 442 | |||||||||
- debt securities in issue | 967 | 1,106 | 1,529 | 882 | 2,184 | 4,344 | 10,105 | 9,408 | 30,525 | |||||||||
- other trading liabilities | 110,647 | − | − | − | − | − | − | − | 110,647 | |||||||||
Financial liabilities designated at fair value | 2,036 | 1,822 | 2,943 | 342 | 1,900 | 4,930 | 14,316 | 38,119 | 66,408 | |||||||||
- debt securities in issue: covered bonds | − | − | − | − | − | 2,012 | 1,608 | 2,577 | 6,197 | |||||||||
- debt securities in issue: otherwise secured | − | − | − | − | − | − | − | − | − | |||||||||
- debt securities in issue: unsecured | 1,972 | 973 | 2,926 | 342 | 1,786 | 2,918 | 9,819 | 10,745 | 31,481 | |||||||||
- subordinated liabilities and preferred securities | − | 848 | − | − | − | − | 2,773 | 18,889 | 22,510 | |||||||||
- other | 64 | 1 | 17 | − | 114 | − | 116 | 5,908 | 6,220 | |||||||||
Derivatives | 276,765 | 34 | 251 | 213 | 52 | 524 | 1,063 | 2,169 | 281,071 | |||||||||
- trading | 276,558 | − | − | − | − | − | − | − | 276,558 | |||||||||
- non-trading | 207 | 34 | 251 | 213 | 52 | 524 | 1,063 | 2,169 | 4,513 | |||||||||
Debt securities in issue | 16,536 | 9,326 | 16,295 | 5,542 | 1,365 | 10,754 | 22,866 | 6,265 | 88,949 | |||||||||
- covered bonds | − | − | 1 | − | 1 | 83 | 17 | 33 | 135 | |||||||||
- otherwise secured | 8,436 | 173 | 195 | 206 | 173 | 2,082 | 4,354 | 1,118 | 16,737 | |||||||||
- unsecured | 8,100 | 9,153 | 16,099 | 5,336 | 1,191 | 8,589 | 18,495 | 5,114 | 72,077 | |||||||||
Liabilities of disposal groups held for sale | 20,350 | 1,416 | 1,548 | 1,344 | 1,246 | 5,050 | 1,484 | 115 | 32,553 | |||||||||
Accruals and other financial liabilities | 14,802 | 7,965 | 2,467 | 659 | 421 | 925 | 1,454 | 665 | 29,358 | |||||||||
Subordinated liabilities | − | 401 | − | − | 34 | 650 | 4,579 | 17,038 | 22,702 | |||||||||
Total financial liabilities at 31 December 2015 | 1,781,490 | 79,279 | 49,295 | 19,892 | 18,341 | 34,485 | 63,401 | 74,877 | 2,121,060 | |||||||||
Non-financial liabilities | − | − | − | − | − | − | − | 91,078 | 91,078 | |||||||||
Total liabilities at 31 December 2015 | 1,781,490 | 79,279 | 49,295 | 19,892 | 18,341 | 34,485 | 63,401 | 165,955 | 2,212,138 |
Due not more than 1 month | Due over 1 month but not more than 3 months | Due over 3 months but not more than 6 months | Due over 6 months but not more than 9 months | Due over 9 months but not more than 1 year | Due over 1 year but not more than 2 years | Due over 2 years but not more than 5 years | Due over 5 years | Total | ||||||||||
$m | $m | $m | $m | $m | $m | $m | $m | $m | ||||||||||
Financial assets | ||||||||||||||||||
Cash and balances at central banks | 129,957 | − | − | − | − | − | − | − | 129,957 | |||||||||
Items in the course of collection from other banks | 4,927 | − | − | − | − | − | − | − | 4,927 | |||||||||
Hong Kong Government certificates of indebtedness | 27,674 | − | − | − | − | − | − | − | 27,674 | |||||||||
Trading assets | 303,463 | − | − | − | − | − | 730 | − | 304,193 | |||||||||
- reverse repos | 567 | − | − | − | − | − | 730 | − | 1,297 | |||||||||
- other trading assets | 302,896 | − | − | − | − | − | − | − | 302,896 | |||||||||
Financial assets designated at fair value | 244 | 399 | 417 | 346 | 208 | 1,825 | 4,634 | 20,964 | 29,037 | |||||||||
Derivatives | 341,558 | 56 | 463 | 220 | 32 | 1,003 | 1,033 | 643 | 345,008 | |||||||||
- trading | 341,416 | − | − | − | − | − | − | − | 341,416 | |||||||||
- non-trading | 142 | 56 | 463 | 220 | 32 | 1,003 | 1,033 | 643 | 3,592 | |||||||||
Loans and advances to banks | 73,758 | 17,649 | 5,682 | 1,934 | 1,850 | 7,371 | 1,981 | 1,924 | 112,149 | |||||||||
Loans and advances to customers | 203,130 | 76,236 | 55,018 | 35,347 | 37,674 | 91,300 | 187,728 | 288,227 | 974,660 | |||||||||
- personal | 42,170 | 9,673 | 8,911 | 7,486 | 8,672 | 27,305 | 54,439 | 230,298 | 388,954 | |||||||||
- corporate and commercial | 146,250 | 61,809 | 41,924 | 23,720 | 23,697 | 56,398 | 124,796 | 56,590 | 535,184 | |||||||||
- financial | 14,710 | 4,754 | 4,183 | 4,141 | 5,305 | 7,597 | 8,493 | 1,339 | 50,522 | |||||||||
Reverse repurchase agreements - non-trading | 116,002 | 30,490 | 9,076 | 2,230 | 582 | 868 | 2,465 | − | 161,713 | |||||||||
Financial investments | 28,237 | 50,445 | 41,503 | 14,577 | 17,011 | 48,392 | 96,891 | 118,411 | 415,467 | |||||||||
Assets held for sale | 114 | 186 | 13 | 18 | 10 | 41 | 126 | 6,224 | 6,732 | |||||||||
Accrued income and other financial assets | 17,756 | 7,386 | 2,402 | 587 | 317 | 707 | 1,156 | 3,579 | 33,890 | |||||||||
Financial assets at 31 December 2014 | 1,246,820 | 182,847 | 114,574 | 55,259 | 57,684 | 151,507 | 296,744 | 439,972 | 2,545,407 | |||||||||
Non-financial assets | − | − | − | − | − | − | − | 88,732 | 88,732 | |||||||||
Total assets at 31 December 2014 | 1,246,820 | 182,847 | 114,574 | 55,259 | 57,684 | 151,507 | 296,744 | 528,704 | 2,634,139 |
Maturity analysis of assets and liabilities (continued)
Due not more than 1 month | Due over 1 month but not more than 3 months | Due over 3 months but not more than 6 months | Due over 6 months but not more than 9 months | Due over 9 months but not more than 1 year | Due over 1 year but not more than 2 years | Due over 2 years but not more than 5 years | Due over 5 years | Total | ||||||||||
$m | $m | $m | $m | $m | $m | $m | $m | $m | ||||||||||
Financial liabilities | ||||||||||||||||||
Hong Kong currency notes in circulation | 27,674 | − | − | − | − | − | − | − | 27,674 | |||||||||
Deposits by banks | 66,829 | 2,890 | 2,539 | 511 | 810 | 621 | 2,963 | 263 | 77,426 | |||||||||
Customer accounts1 | 1,216,574 | 57,127 | 32,925 | 15,023 | 13,586 | 9,278 | 5,819 | 310 | 1,350,642 | |||||||||
- personal | 572,459 | 28,580 | 16,728 | 10,609 | 9,625 | 7,220 | 3,967 | 125 | 649,313 | |||||||||
- corporate and commercial | 465,990 | 21,841 | 10,688 | 3,716 | 2,894 | 1,615 | 1,316 | 150 | 508,210 | |||||||||
- financial | 178,125 | 6,706 | 5,509 | 698 | 1,067 | 443 | 536 | 35 | 193,119 | |||||||||
Repurchase agreements - non-trading | 95,243 | 5,029 | 4,054 | 1,392 | 714 | − | − | 1,000 | 107,432 | |||||||||
Items in the course of transmission to other banks | 5,990 | − | − | − | − | − | − | − | 5,990 | |||||||||
Trading liabilities | 155,604 | 2,041 | 2,636 | 1,439 | 2,918 | 5,744 | 9,603 | 10,587 | 190,572 | |||||||||
- repos | 746 | 909 | 224 | 264 | 1,249 | 406 | − | − | 3,798 | |||||||||
- debt securities in issue | 1,686 | 1,132 | 2,412 | 1,175 | 1,669 | 5,338 | 9,603 | 10,587 | 33,602 | |||||||||
- other trading liabilities | 153,172 | − | − | − | − | − | − | − | 153,172 | |||||||||
Financial liabilities designated at fair value | 981 | 912 | 4,264 | 972 | 1,557 | 8,500 | 15,037 | 43,930 | 76,153 | |||||||||
- debt securities in issue: covered bonds | − | − | − | 205 | − | − | 2,705 | 2,942 | 5,852 | |||||||||
- debt securities in issue: otherwise secured | − | − | − | − | − | − | − | − | − | |||||||||
- debt securities in issue: unsecured | 942 | 868 | 4,242 | 742 | 1,409 | 8,500 | 9,576 | 14,233 | 40,512 | |||||||||
- subordinated liabilities and preferred securities | − | 36 | − | − | 18 | − | 2,623 | 20,640 | 23,317 | |||||||||
- other | 39 | 8 | 22 | 25 | 130 | − | 133 | 6,115 | 6,472 | |||||||||
Derivatives | 335,802 | 23 | 86 | 223 | 54 | 621 | 1,121 | 2,739 | 340,669 | |||||||||
- trading | 335,400 | − | − | − | − | − | − | − | 335,400 | |||||||||
- non-trading | 402 | 23 | 86 | 223 | 54 | 621 | 1,121 | 2,739 | 5,269 | |||||||||
Debt securities in issue | 14,741 | 15,424 | 13,027 | 7,854 | 6,050 | 14,209 | 19,481 | 5,161 | 95,947 | |||||||||
- covered bonds | - | - | − | − | − | − | 81 | − | 81 | |||||||||
- otherwise secured | 8,807 | 1,063 | 60 | 283 | 272 | 912 | 1,562 | 1,008 | 13,967 | |||||||||
- unsecured | 5,934 | 14,361 | 12,967 | 7,571 | 5,778 | 13,297 | 17,838 | 4,153 | 81,899 | |||||||||
Liabilities of disposal groups held for sale | 191 | 28 | 56 | 55 | 63 | 213 | 551 | 2,837 | 3,994 | |||||||||
Accruals and other financial liabilities | 20,893 | 9,170 | 3,013 | 1,166 | 1,757 | 1,355 | 1,674 | 818 | 39,846 | |||||||||
Subordinated liabilities | − | 150 | − | 3 | 167 | 113 | 3,607 | 22,624 | 26,664 | |||||||||
Total financial liabilities at 31 December 2014 | 1,940,522 | 92,794 | 62,600 | 28,638 | 27,676 | 40,654 | 59,856 | 90,269 | 2,343,009 | |||||||||
Non-financial liabilities | - | - | - | - | - | - | - | 91,152 | 91,152 | |||||||||
Total liabilities at 31 December 2014 | 1,940,522 | 92,794 | 62,600 | 28,638 | 27,676 | 40,654 | 59,856 | 181,421 | 2,434,161 |
1 'Customer accounts' includes $342,908m (2014: $342,927m) insured by guarantee schemes.
Maturity analysis of off-balance sheet commitments received
Due not more than 1 month | Due over 1 month but not more than 3 months | Due over 3 months but not more than 6 months | Due over 6 months but not more than 9 months | Due over 9 months but not more than 1 year | Due over 1 year but not more than 2 years | Due over 2 years but not more than 5 years | Due over 5 years | Total | ||||||||||
$m | $m | $m | $m | $m | $m | $m | $m | $m | ||||||||||
At 31 December 2015 | ||||||||||||||||||
Loan and other credit-related commitments | 3,472 | − | 2,149 | − | − | 111 | − | − | 5,732 | |||||||||
At 31 December 2014 | ||||||||||||||||||
Loan and other credit-related commitments | 3,313 | − | 4,312 | 607 | − | − | − | − | 8,232 |
Maturity analysis of off-balance sheet commitments given
Due not more than 1 month | Due over 1 month but not more than 3 months | Due over 3 months but not more than 6 months | Due over 6 months but not more than 9 months | Due over 9 months but not more than 1 year | Due over 1 year but not more than 2 years | Due over 2 years but not more than 5 years | Due over 5 years | Total | ||||||||||
$m | $m | $m | $m | $m | $m | $m | $m | $m | ||||||||||
At 31 December 2015 | ||||||||||||||||||
Loan and other credit-related commitments | 472,277 | 45,792 | 16,271 | 9,798 | 47,122 | 11,325 | 48,756 | 15,089 | 666,430 | |||||||||
Of which: | ||||||||||||||||||
- personal | 161,843 | 11,547 | 6,333 | 963 | 19,607 | 1,207 | 425 | 1,018 | 202,943 | |||||||||
- corporate and commercial | 272,044 | 32,764 | 9,126 | 8,372 | 23,984 | 8,227 | 38,838 | 12,558 | 405,913 | |||||||||
- financial | 38,390 | 1,481 | 812 | 463 | 3,531 | 1,891 | 9,493 | 1,513 | 57,574 | |||||||||
At 31 December 2014 | ||||||||||||||||||
Loan and other credit-related commitments | 455,319 | 52,398 | 8,919 | 14,163 | 41,500 | 13,979 | 48,333 | 16,769 | 651,380 | |||||||||
Of which: | ||||||||||||||||||
- personal | 179,088 | 15,784 | 452 | 305 | 14,036 | 1,432 | 1,003 | 955 | 213,055 | |||||||||
- corporate and commercial | 239,646 | 34,657 | 7,595 | 12,556 | 23,519 | 9,926 | 36,918 | 12,185 | 377,002 | |||||||||
- financial | 36,585 | 1,957 | 872 | 1,302 | 3,945 | 2,621 | 10,412 | 3,629 | 61,323 |
HSBC Holdings
Maturity analysis of assets, liabilities and off-balance sheet commitments
Due not more than 1 month | Due over 1 month but not more than 3 months | Due over 3 months but not more than 6 months | Due over 6 months but not more than 9 months | Due over 9 months but not more than 1 year | Due over 1 year but not more than 2 years | Due over 2 years but not more than 5 years | Due over 5 years | Total | ||||||||||
$m | $m | $m | $m | $m | $m | $m | $m | $m | ||||||||||
Financial assets | ||||||||||||||||||
Cash at bank and in hand: | ||||||||||||||||||
- balances with HSBC undertakings | 242 | - | - | - | - | - | - | - | 242 | |||||||||
Derivatives | 1,990 | - | - | - | - | - | 109 | 368 | 2,467 | |||||||||
- trading | 1,990 | - | - | - | - | - | - | - | 1,990 | |||||||||
- non-trading | - | - | - | - | - | - | 109 | 368 | 477 | |||||||||
Loans and advances to HSBC undertakings | 7,805 | 2,629 | 4,618 | - | - | - | - | 29,298 | 44,350 | |||||||||
Financial investments in HSBC undertakings | 40 | 6 | - | - | - | - | - | 4,239 | 4,285 | |||||||||
Accrued income and other financial assets | 7 | - | - | - | - | - | - | 109 | 116 | |||||||||
Total financial assets at 31 December 2015 | 10,084 | 2,635 | 4,618 | - | - | - | 109 | 34,014 | 51,460 | |||||||||
- | - | - | ||||||||||||||||
Non-financial assets | - | - | - | - | - | - | - | 98,734 | 98,734 | |||||||||
Total assets at 31 December 2015 | 10,084 | 2,635 | 4,618 | - | - | - | 109 | 132,748 | 150,194 | |||||||||
Financial liabilities | ||||||||||||||||||
Amounts owed to HSBC undertakings | 1,629 | - | - | - | - | 415 | - | 108 | 2,152 | |||||||||
Financial liabilities designated at fair value | - | 960 | - | - | - | - | 2,285 | 16,608 | 19,853 | |||||||||
- debt securities in issue | - | 960 | - | - | - | - | - | 6,937 | 7,897 | |||||||||
- subordinated liabilities and preferred securities | - | - | - | - | - | - | 2,285 | 9,671 | 11,956 | |||||||||
Derivatives | 2,065 | - | - | - | - | - | 213 | - | 2,278 | |||||||||
- trading | 2,065 | - | - | - | - | - | - | - | 2,065 | |||||||||
- non-trading | - | - | - | - | - | - | 213 | - | 213 | |||||||||
Debt securities in issue | - | - | - | - | - | - | - | 960 | 960 | |||||||||
Accruals and other financial liabilities | 1,231 | 195 | 132 | 20 | - | - | - | - | 1,578 | |||||||||
Subordinated liabilities | - | - | - | - | - | - | 1,749 | 14,146 | 15,895 | |||||||||
- | ||||||||||||||||||
Total financial liabilities at 31 December 2015 | 4,925 | 1,155 | 132 | 20 | - | 415 | 4,247 | 31,822 | 42,716 | |||||||||
- | ||||||||||||||||||
Non-financial liabilities | - | - | - | - | - | - | - | 64 | 64 | |||||||||
- | ||||||||||||||||||
Total liabilities at 31 December 2015 | 4,925 | 1,155 | 132 | 20 | - | 415 | 4,247 | 31,886 | 42,780 | |||||||||
Off-balance sheet commitments given | ||||||||||||||||||
Undrawn formal standby facilities, credit lines and other commitments to lend | - | - | - | - | - | - | - | - | - |
Due not more than 1 month | Due over 1 month but not more than 3 months | Due over 3 months but not more than 6 months | Due over 6 months but not more than 9 months | Due over 9 months but not more than 1 year | Due over 1 year but not more than 2 years | Due over 2 years but not more than 5 years | Due over 5 years | Total | ||||||||||
$m | $m | $m | $m | $m | $m | $m | $m | $m | ||||||||||
Financial assets | ||||||||||||||||||
Cash at bank and in hand: | ||||||||||||||||||
- balances with HSBC undertakings | 249 | - | - | - | - | - | - | - | 249 | |||||||||
Derivatives | 2,287 | - | - | - | - | - | 127 | 357 | 2,771 | |||||||||
- trading | 2,287 | - | - | - | - | - | - | - | 2,287 | |||||||||
- non-trading | - | - | - | - | - | - | 127 | 357 | 484 | |||||||||
Loans and advances to HSBC undertakings | 7,007 | 858 | 7,676 | - | 14 | - | - | 28,355 | 43,910 | |||||||||
Financial investments in HSBC undertakings | 26 | 6 | - | - | - | - | - | 4,041 | 4,073 | |||||||||
Accrued income and other financial assets | 8 | - | - | - | - | - | - | - | 8 | |||||||||
Total financial assets at 31 December 2014 | 9,577 | 864 | 7,676 | - | 14 | - | 127 | 32,753 | 51,011 | |||||||||
Non-financial assets | - | - | - | - | - | - | - | 96,853 | 96,853 | |||||||||
Total assets at 31 December 2014 | 9,577 | 864 | 7,676 | - | 14 | - | 127 | 129,606 | 147,864 | |||||||||
Financial liabilities | ||||||||||||||||||
Amounts owed to HSBC undertakings | 2,423 | - | 32 | - | 1 | 436 | - | - | 2,892 | |||||||||
Financial liabilities designated at fair value | - | - | - | - | - | 1,110 | 2,623 | 14,946 | 18,679 | |||||||||
- debt securities in issue | - | - | - | - | - | 1,110 | - | 7,075 | 8,185 | |||||||||
- subordinated liabilities and preferred securities | - | - | - | - | - | - | 2,623 | 7,871 | 10,494 | |||||||||
Derivatives | 1,066 | - | - | - | - | - | 103 | - | 1,169 | |||||||||
- trading | 1,066 | - | - | - | - | - | - | - | 1,066 | |||||||||
- non-trading | - | - | - | - | - | - | 103 | - | 103 | |||||||||
Debt securities in issue | - | - | - | - | - | - | - | 1,009 | 1,009 | |||||||||
Accruals and other financial liabilities | 924 | 208 | 137 | 21 | - | - | - | - | 1,290 | |||||||||
Subordinated liabilities | - | - | - | - | - | - | 1,951 | 15,304 | 17,255 | |||||||||
Total financial liabilities at 31 December 2014 | 4,413 | 208 | 169 | 21 | 1 | 1,546 | 4,677 | 31,259 | 42,294 | |||||||||
Non-financial liabilities | - | - | - | - | - | - | - | 125 | 125 | |||||||||
Total liabilities at 31 December 2014 | 4,413 | 208 | 169 | 21 | 1 | 1,546 | 4,677 | 31,384 | 42,419 | |||||||||
Off-balance sheet commitments given | ||||||||||||||||||
Undrawn formal standby facilities, credit lines and other commitmentsto lend | 16 | - | - | - | - | - | - | - | 16 |
32 Offsetting of financial assets and financial liabilities
Accounting policy
Financial assets and financial liabilities are offset and the net amount is reported in the balance sheet when there is a legally enforceable right to offset the recognised amounts and there is an intention to settle on a net basis, or realise the asset and settle the liability simultaneously ('the offset criteria'). |
The disclosure below has been enhanced this year with the inclusion of 'Amounts not subject to enforceable netting arrangements' resulting in a change in the basis of preparation from the prior period. Prior period data have been represented accordingly.
The 'Amounts not set off in the balance sheet' in the following table for derivatives and reverse repurchase/repurchase, stock borrowing/lending and similar agreements include transactions where:
· the counterparty has an offsetting exposure with HSBC and a master netting or similar arrangement is in place with a right of set off only in the event of default, insolvency or bankruptcy, or the offset criteria are otherwise not satisfied; and
· cash and non-cash collateral has been received/pledged in respect of the transactions described above.
For loans and advances to customers and customer accounts at amortised cost the amounts included in the table below typically relate to transactions entered into with corporate and commercial customers for working capital management purposes. The 'Amounts not set off in the balance sheet' relate to transactions where the customer has an offsetting exposure with HSBC and an agreement is in place with the right of offset but the offset criteria are otherwise not satisfied. For risk management purposes, the net amounts of such exposures are subject to limits which are monitored and the relevant customer agreements are subject to review and updated, as necessary, to ensure that the legal right of offset remains appropriate.
Footnotes to the table on page 435 are set out below:
1 At 31 December 2015, the amount of cash margin received that has been offset against the gross derivatives assets is $4,135m (2014: $606m). The amount of cash margin paid that has been offset against the gross derivatives liabilities is $4,224m (2014: $190m).
2 For the amount of reverse repos, stock borrowing and similar agreements recognised in the balance sheet, see the 'Funding sources and uses; table on page 160. In the analysis below, the $7,556m (2014: $9,266m) of trading assets presented in the balance sheet comprised $438m of reverse repos (2014: $1,297m) and $7,118m of stock borrowing (2014: $7,969m).
3 At 31 December 2015, the total amount of loans and advances to customers at amortised cost was $924,454m (2014: $974,660m) of which $45,904m (2014: $62,096m) was subject to offsetting. For the amount of loans and advances to customers at amortised cost recognised in the balance sheet, see the 'Funding sources and uses' table on page 160.
4 For the amount of repos, stock lending and similar agreements recognised in the balance sheet, see the 'Funding sources and uses' table on page 160. In the analysis below, the $9,301m (2014: $15,830m) of trading liabilities presented in the balance sheet comprised $442m of repos (2014: $3,798m) and $8,859m of stock lending (2014: $12,032m).
5 At 31 December 2015, the total amount of customer accounts at amortised cost was $1,289,586m (2014: $1,350,642m) of which $51,442m (2014: $69,082m) was subject to offsetting. For the amount of customer accounts at amortised cost recognised in the balance sheet, see the 'Funding sources and uses' table on page 160.
6 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.
Financial assets subject to offsetting, enforceable master netting arrangements and similar agreements
Amounts subject to enforceable netting arrangements | Amounts not subject to enforceable netting arrangements6 | Total | ||||||||||||||||
Amounts not set off in the balance sheet | ||||||||||||||||||
Gross amounts | Amounts offset | Net amounts in the balance sheet | Financial instruments | Non-cash collateral | Cash collateral | Net amount | ||||||||||||
$m | $m | $m | $m | $m | $m | $m | $m | $m | ||||||||||
Financial assets | ||||||||||||||||||
Derivatives (Note 16)1 | 385,682 | (105,860) | 279,822 | (215,531) | (8,621) | (34,040) | 21,630 | 8,654 | 288,476 | |||||||||
Reverse repos, stock borrowing and similar agreements2 | 208,417 | (77,925) | 130,492 | (544) | (129,476) | (270) | 202 | 23,319 | 153,811 | |||||||||
Classified as: | ||||||||||||||||||
- trading assets | 7,496 | - | 7,496 | - | (7,495) | - | 1 | 60 | 7,556 | |||||||||
- non-trading assets | 200,921 | (77,925) | 122,996 | (544) | (121,981) | (270) | 201 | 23,259 | 146,255 | |||||||||
Loans and advances to customers atamortised cost3 | 77,547 | (31,643) | 45,904 | (40,790) | - | - | 5,114 | 1,487 | 47,391 | |||||||||
At 31 December 2015 | 671,646 | (215,428) | 456,218 | (256,865) | (138,097) | (34,310) | 26,946 | 33,460 | 489,678 | |||||||||
Derivatives (Note 16)1 | 584,359 | (250,465) | 333,894 | (262,856) | (7,655) | (41,750) | 21,633 | 11,114 | 345,008 | |||||||||
Reverse repos, stock borrowing and similar agreements2 | 208,893 | (88,676) | 120,217 | (5,117) | (114,394) | (249) | 457 | 50,762 | 170,979 | |||||||||
Classified as: | ||||||||||||||||||
- trading assets | 9,341 | (390) | 8,951 | - | (8,951) | - | - | 315 | 9,266 | |||||||||
- non-trading assets | 199,552 | (88,286) | 111,266 | (5,117) | (105,443) | (249) | 457 | 50,447 | 161,713 | |||||||||
Loans and advances to customers atamortised cost3 | 99,623 | (37,527) | 62,096 | (55,989) | - | - | 6,107 | 1,597 | 63,693 | |||||||||
At 31 December 2014 | 892,875 | (376,668) | 516,207 | (323,962) | (122,049) | (41,999) | 28,197 | 63,473 | 579,680 | |||||||||
Financial liabilities | ||||||||||||||||||
Derivatives (Note 16)1 | 377,930 | (105,860) | 272,070 | (215,508) | (13,629) | (30,063) | 12,870 | 9,001 | 281,071 | |||||||||
Repos, stock lending and similar agreements4 | 136,040 | (77,925) | 58,115 | (2,034) | (56,030) | (26) | 25 | 31,586 | 89,701 | |||||||||
Classified as: | ||||||||||||||||||
- trading liabilities | 9,300 | - | 9,300 | - | (9,299) | - | 1 | 1 | 9,301 | |||||||||
- non-trading liabilities | 126,740 | (77,925) | 48,815 | (2,034) | (46,731) | (26) | 24 | 31,585 | 80,400 | |||||||||
Customer accounts at amortised cost5 | 83,085 | (31,643) | 51,442 | (40,790) | - | (1) | 10,651 | 729 | 52,171 | |||||||||
At 31 December 2015 | 597,055 | (215,428) | 381,627 | (258,332) | (69,659) | (30,090) | 23,546 | 41,316 | 422,943 | |||||||||
Derivatives (Note 16)1 | 580,644 | (250,465) | 330,179 | (262,864) | (9,465) | (39,571) | 18,279 | 10,490 | 340,669 | |||||||||
Repos, stock lending and similar agreements4 | 165,514 | (88,676) | 76,838 | (8,934) | (67,793) | (105) | 6 | 46,424 | 123,262 | |||||||||
Classified as: | ||||||||||||||||||
- trading liabilities | 16,206 | (390) | 15,816 | - | (15,813) | - | 3 | 14 | 15,830 | |||||||||
- non-trading liabilities | 149,308 | (88,286) | 61,022 | (8,934) | (51,980) | (105) | 3 | 46,410 | 107,432 | |||||||||
Customer accounts at amortised cost5 | 106,609 | (37,527) | 69,082 | (55,989) | - | - | 13,093 | 479 | 69,561 | |||||||||
At 31 December 2014 | 852,767 | (376,668) | 476,099 | (327,787) | (77,258) | (39,676) | 31,378 | 57,393 | 533,492 | |||||||||
For footnotes, see page 434.
33 Foreign exchange exposures
Structural foreign exchange exposures
HSBC's structural foreign exchange exposures are represented by the net asset value of its foreign exchange equity and subordinated debt investments in subsidiaries, branches, joint ventures and associates with non-US dollar functional currencies. Gains or losses on structural foreign exchange exposures are recognised in other comprehensive income. HSBC's management of its structural foreign exchange exposures is discussed on page 171.
Net structural foreign exchange exposures
2015 | 2014 | |||
$m | $m | |||
Currency of structural exposure | ||||
Pound sterling1 | 32,701 | 30,071 | ||
Hong Kong dollars | 28,270 | 24,028 | ||
Chinese renminbi | 24,117 | 24,578 | ||
Euros | 19,966 | 20,378 | ||
Mexican pesos | 4,228 | 5,249 | ||
Indian rupees | 3,645 | 3,466 | ||
Canadian dollars | 3,595 | 4,187 | ||
Saudi riyals | 3,109 | 2,910 | ||
Brazilian real | 2,865 | 4,910 | ||
Swiss francs | 2,642 | 1,864 | ||
Malaysian ringgit | 1,994 | 2,219 | ||
UAE dirhams | 1,898 | 2,199 | ||
Taiwanese dollars | 1,702 | 1,721 | ||
Singapore dollars | 1,454 | 1,185 | ||
Australian dollars | 1,396 | 1,516 | ||
Indonesian rupiah | 1,303 | 1,352 | ||
Korean won | 1,296 | 1,360 | ||
Turkish lira | 1,006 | 1,366 | ||
Egyptian pounds | 925 | 868 | ||
Argentine pesos | 875 | 1,059 | ||
Others, each less than $700m | 5,775 | 5,918 | ||
At 31 December | 144,762 | 142,404 |
1 During 2015, we entered into new forward exchange contracts amounting to $2.6bn (2014: $1.6bn) in order to manage our sterling structural foreign exchange exposure.
Shareholders' equity would decrease by $2,633m (2014: $2,522m) if euro and sterling foreign currency exchange rates weakened by 5% relative to the US dollar.
34 Non-controlling interests
2015 | 2014 | |||
$m | $m | |||
Non-controlling interests attributable to holders of ordinary shares in subsidiaries | 6,981 | 7,104 | ||
Preferred securities issued by subsidiaries | 2,077 | 2,427 | ||
At 31 December | 9,058 | 9,531 |
Preferred securities issued by subsidiaries
Preferred securities are securities for which there is no obligation to pay a dividend and, if the dividend is not paid, it may not be cumulative. Such securities do not generally carry voting rights but rank higher than ordinary shares for dividend payments and in the event of a winding-up. These securities have no stated maturity date but may be called and redeemed by the issuer, subject to prior notification to the PRA and, where relevant, the consent of the local banking regulator. Dividends on floating rate preferred securities are generally related to interbank offer rates.
Included in the capital base of HSBC are non-cumulative preferred securities classified as additional tier 1 capital and cumulative preferred securities classified as tier 2 capital in accordance with CRD IV rules, by virtue of the application of grandfathering provisions.
Preferred securities issued by HSBC's subsidiaries
First call date | 2015 $m | 2014 $m | ||||
HSBC USA Inc. | ||||||
$150m1
| Depositary shares each representing 25% interest in a share ofadjustable-rate cumulative preferred stock, series D | Jul 1999 | - | 150 | ||
$150m2 | Cumulative preferred stock | Oct 2007 | - | 150 | ||
$518m | Floating rate non-cumulative preferred stock, series F | Apr 2010 | 518 | 518 | ||
$374m | Floating rate non-cumulative preferred stock, series G | Jan 2011 | 374 | 374 | ||
$374m | 6.50% non-cumulative preferred stock, series H | Jul 2011 | 374 | 374 | ||
HSBC Finance Corporation | ||||||
$575m | 6.36% non-cumulative preferred stock, series B | Jun 2010 | 559 | 559 | ||
HSBC Bank Canada | ||||||
CAD175m | Non-cumulative redeemable class 1 preferred shares, series C | Jun 2010 | 126 | 151 | ||
CAD175m | Non-cumulative class 1 preferred shares, series D | Dec 2010 | 126 | 151 | ||
At 31 December | 2,077 | 2,427 | ||||
1 In May 2015, HSBC redeemed its depositary shares representing 25% interest in a share of adjustable-rate cumulative preferred stock, series D for $152m.
2 In May 2015, HSBC redeemed its cumulative preferred stock for $152m.
35 Called up share capital and other equity instruments
Accounting policy
Financial instruments issued are classified as equity when there is no contractual obligation to transfer cash or other financial assets or issue a variable number of own equity instruments. Incremental costs directly attributable to the issue of equity instruments are shown in equity as a deduction from the proceeds, net of tax. HSBC Holdings equity instruments held by HSBC are recognised in equity as a deduction from retained earnings until they are cancelled. When such instruments are subsequently sold, reissued or otherwise disposed of, any consideration received is included in equity, net of any directly attributable incremental transaction costs and related income tax effects. |
Issued and fully paid
HSBC Holdings ordinary shares of $0.50 each
2015 | 2014 | |||
$m | $m | |||
HSBC Holdings ordinary shares1 at 31 December | 9,842 | 9,609 | ||
Number | $m | |||
At 1 January 2015 | 19,217,874,260 | 9,609 | ||
Shares issued under HSBC employee share plans | 91,265,909 | 45 | ||
Shares issued in lieu of dividends | 375,956,765 | 188 | ||
At 31 December 2015 | 19,685,096,934 | 9,842 | ||
At 1 January 2014 | 18,830,007,039 | 9,415 | ||
Shares issued under HSBC employee share plans | 119,391,238 | 60 | ||
Shares issued in lieu of dividends | 268,475,983 | 134 | ||
At 31 December 2014 | 19,217,874,260 | 9,609 |
Number | $m | |||
At 1 January 2015 and 31 December 20152 | 1,450,000 | - | ||
At 1 January 2014 and 31 December 2014 | 1,450,000 | - |
1 All HSBC Holdings ordinary shares in issue confer identical rights, including in respect of capital, dividends and voting.
2 Included in the capital base of HSBC as additional tier 1 capital in accordance with the CRD IV rules, by virtue of the application of grandfathering provisions.
Dividends on the HSBC Holdings non-cumulative dollar preference shares in issue ('dollar preference shares') are paid quarterly at the sole and absolute discretion of the Board of Directors. The Board of Directors will not declare a dividend on the dollar preference shares if payment of the dividend would cause HSBC Holdings not to meet the applicable capital adequacy requirements of the PRA or the profit of HSBC Holdings available for distribution as dividends is not sufficient to enable HSBC Holdings to pay in full both dividends on the dollar preference shares and dividends on any other shares that are scheduled to be paid on the same date and that have an equal right to dividends. HSBC Holdings may not declare or pay dividends on any class of its shares ranking lower in the right to dividends than the dollar preference shares nor redeem nor purchase in any manner any of its other shares ranking equal with or lower than the dollar preference shares unless it has paid in full, or set aside an amount to provide for payment in full, the dividends on the dollar preference shares for the then current dividend period. The dollar preference shares carry no rights to conversion into ordinary shares of HSBC Holdings. Holders of the dollar preference shares will only be entitled to attend and vote at general meetings of shareholders of HSBC Holdings if the dividend payable on the dollar preference shares has not been paid in full for four consecutive dividend payment dates. In such circumstances, holders of the dollar preference shares will be entitled to vote on all matters put to general meetings until such time as HSBC Holdings has paid a full dividend on the dollar preference shares. HSBC Holdings may redeem the dollar preference shares in whole at any time on or after 16 December 2010, subject to prior notification to the PRA.
HSBC Holdings non-cumulative preference share of £0.01The one non-cumulative sterling preference share of £0.01 in issue ('sterling preference share') has been in issue since 29 December 2010 and is held by a subsidiary of HSBC Holdings. Dividends on the sterling preference share 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 rights to attend and vote at general meetings of shareholders of HSBC Holdings. HSBC Holdings may redeem it in whole at any time at the option of the Company.
Other equity instruments
HSBC has included three types of additional tier 1 capital securities in its tier 1 capital. The two types of additional tier 1 securities presented in this Note 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 30 for additional tier 1 securities accounted for as liabilities.
Other equity instruments which have been included in the regulatory capital base of HSBC comprise additional tier 1 capital securities and additional tier 1 contingent convertible securities.
Additional tier 1 capital securitiesAdditional tier 1 capital securities are perpetual subordinated securities on which coupon payments may be deferred at the discretion of HSBC Holdings. While any coupon payments are unpaid or deferred, HSBC Holdings will not declare, pay dividends or make distributions or similar periodic payments in respect of, or repurchase, redeem or otherwise acquire any securities of lower or equal rank. Such securities do not generally carry voting rights but rank higher than ordinary shares for coupon payments and in the event of a winding-up. These securities do not meet the identifying criteria in full for recognition as tier 1 capital under CRD IV but are eligible as regulatory capital subject to grandfathering limits and progressive phase-out.
At HSBC Holdings' discretion, and subject to certain conditions being satisfied, the capital securities may be exchanged on any coupon payment date for non-cumulative preference shares to be issued by HSBC Holdings and ranking pari passu with the dollar and sterling preference shares in issue. The preference shares would be issued at a nominal value of $0.01 per share and a premium of $24.99 per share, with both such amounts being subscribed and fully paid. These securities may be called and redeemed by HSBC subject to prior notification to the PRA.
HSBC's additional tier 1 capital securities in issue which are accounted for in equity
First call date | 2015 $m | 2014 $m | |||||
$2,200m | 8.125% perpetual subordinated capital securities | Apr 2013 | 2,133 | 2,133 | |||
$3,800m | 8.00% perpetual subordinated capital securities, Series 2 | Dec 2015 | 3,718 | 3,718 | |||
At 31 December | 5,851 | 5,851 |
| ||||
During 2015, HSBC continued to issue contingent convertible securities that are included in HSBC's capital base as fully CRD IV compliant additional tier 1 capital securities on an end point basis. The net proceeds of the issuances will be used for general corporate purposes and to further strengthen the capital base pursuant to requirements under CRD IV. These securities bear a fixed rate of interest until their initial call dates. After the initial call dates, in the event they are not redeemed, the securities will bear interest at rates which are fixed periodically in advance for five-year periods based on prevailing market rates. Interest on the contingent convertible securities will be due and payable only at the sole discretion of HSBC, and HSBC has sole and absolute discretion at all times and for any reason to cancel (in whole or in part) any interest payment that would otherwise be payable on any interest payment date. There are limitations on the payment of distributions if such payments are prohibited under UK banking regulations, or other requirements, if HSBC Holdings has insufficient reserves available for distribution or if HSBC fails to satisfy the solvency condition as defined in the securities' terms.
The contingent convertible securities are undated and are repayable, at the option of HSBC, in whole at the initial call date, or on any fifth anniversary after the initial call 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's dollar and sterling preference shares and are therefore ahead of ordinary shares. The contingent convertible securities will be converted into fully paid ordinary shares of HSBC at a pre-determined price should HSBC's consolidated end point CET1 ratio fall below 7.0%. Therefore, in accordance with the terms of the securities, if the end point CET1 ratio breaches the 7.0% trigger the securities will convert into ordinary shares at fixed contractual conversion prices in the issuance currencies of the relevant securities equivalent to £2.70 at the prevailing rate of exchange on the issuance date subject to certain anti-dilution adjustments.
HSBC's additional tier 1 capital - contingent convertible securities in issue which are accounted for in equity
First call date | 2015 $m | 2014 $m | ||||
$2,250m | 6.375% perpetual subordinated contingent convertible securities | Sep 2024 | 2,244 | 2,244 | ||
$1,500m | 5.625% perpetual subordinated contingent convertible securities | Jan 2020 | 1,494 | 1,494 | ||
€1,500m | 5.25% perpetual subordinated contingent convertible securities | Sep 2022 | 1,943 | 1,943 | ||
$2,450m | 6.375% perpetual subordinated contingent convertible securities | Mar 2025 | 2,459 | - | ||
€1,000m | 6.000% perpetual subordinated contingent convertible securities | Sep 2023 | 1,121 | - | ||
At 31 December | 9,261 | 5,681 | ||||
Shares under option
For details of the options outstanding to subscribe for HSBC Holdings ordinary shares under the HSBC Holdings savings-related share option plans, see Note 6.
Aggregate options outstanding under these plans
Number of HSBC Holdings ordinary shares | Period of exercise | Exercise price | ||||
31 December 2015 | 72,840,810 | 2015 to 2021 | £4.0472 - 5.4738 | |||
1,114,830 | 2015 to 2018 | HK$55.4701 - 63.9864 | ||||
153,610 | 2015 to 2018 | €5.3532 - 6.0657 | ||||
665,445 | 2015 to 2018 | $7.1456 - 8.2094 | ||||
31 December 2014 | 63,918,042 | 2014 to 2020 | £3.3116 - 7.9911 | |||
6,468,782 | 2014 to 2018 | HK$37.8797 - 63.9864 | ||||
571,502 | 2014 to 2018 | €3.6361 - 6.0657 | ||||
1,867,328 | 2014 to 2018 | $4.8876 - 8.2094 | ||||
31 December 2013 | 119,085,250 | 2013 to 2019 | £3.3116 - 7.9911 | |||
24,215,341 | 2013 to 2018 | HK$37.8797 - 92.5881 | ||||
1,574,652 | 2013 to 2018 | €3.6361 - 7.5571 | ||||
3,997,069 | 2013 to 2018 | $4.8876 - 11.8824 |
Maximum obligation to deliver HSBC Holdings ordinary shares
At 31 December 2015, 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 and restricted share awards granted under the HSBC Share Plan and/or the HSBC Share Plan 2011, was 193,178,906 (2014: 193,154,512). The total number of shares at 31 December 2015 held by employee benefit trusts that may be used to satisfy such obligations to deliver HSBC Holdings ordinary shares was 4,753,747 (2014: 7,943,191).
36 Notes on the statement of cash flows
Other non-cash items included in profit before tax
HSBC | HSBC Holdings | |||||||||
2015 | 2014 | 2013 | 2015 | 2014 | ||||||
$m | $m | $m | $m | $m | ||||||
Depreciation, amortisation and impairment | 2,181 | 2,251 | 2,330 | 30 | 39 | |||||
(Gains)/losses arising from dilution of interests in associates | - | 32 | (1,051) | - | - | |||||
Revaluations on investment property | (61) | (120) | (113) | - | - | |||||
Share-based payment expense | 757 | 732 | 630 | 86 | 74 | |||||
Loan impairment losses gross of recoveries and other creditrisk provisions | 4,546 | 5,125 | 7,356 | - | - | |||||
Provisions | 3,210 | 3,074 | 2,578 | - | - | |||||
Impairment/(release of impairment) of financial investments | 94 | 54 | (36) | - | - | |||||
Charge for defined benefit plans | 262 | 535 | 121 | - | - | |||||
Accretion of discounts and amortisation of premiums | (224) | (421) | 180 | (2) | (61) | |||||
Year ended 31 December | 10,765 | 11,262 | 11,995 | 114 | 52 | |||||
Change in operating assets
HSBC | HSBC Holdings | |||||||||
2015 | 2014 | 2013 | 2015 | 2014 | ||||||
$m | $m | $m | $m | $m | ||||||
Change in loans to HSBC undertakings | - | - | - | (729) | 1,364 | |||||
Change in net trading securities and net derivatives | 24,384 | (18,498) | (24,870) | 1,413 | 483 | |||||
Change in loans and advances to banks | 1,218 | 5,147 | (4,739) | - | - | |||||
Change in loans and advances to customers | 31,753 | 12,666 | (46,551) | - | - | |||||
Change in reverse repurchase agreements - non-trading | (3,011) | 18,900 | (70,403) | - | - | |||||
Change in financial assets designated at fair value | 2,394 | 3,269 | (4,922) | - | - | |||||
Change in other assets | 9,090 | 4,393 | 2,586 | (141) | 7 | |||||
Year ended 31 December | 65,828 | 25,877 | (148,899) | 543 | 1,854 | |||||
Change in operating liabilities
HSBC | HSBC Holdings | |||||||||
2015 | 2014 | 2013 | 2015 | 2014 | ||||||
$m | $m | $m | $m | $m | ||||||
Change in deposits by banks | (21,534) | (9,081) | (7,781) | - | - | |||||
Change in customer accounts | (44,373) | (8,362) | 57,365 | - | - | |||||
Change in repurchase agreements - non-trading | (26,481) | (56,788) | 123,653 | - | - | |||||
Change in debt securities in issue | 960 | (8,133) | (15,381) | (49) | (149) | |||||
Change in financial liabilities designated at fair value | (10,785) | (10,734) | 994 | (1,228) | (694) | |||||
Change in other liabilities | (4,549) | (716) | 5,907 | (1,065) | (9,071) | |||||
Year ended 31 December | (106,762) | (93,814) | 164,757 | (2,342) | (9,914) | |||||
Interest and dividends
HSBC | HSBC Holdings | |||||||||
2015 | 2014 | 2013 | 2015 | 2014 | ||||||
$m | $m | $m | $m | $m | ||||||
Interest paid | (14,559) | (15,633) | (17,262) | (2,309) | (2,463) | |||||
Interest received | 47,623 | 51,522 | 50,823 | 2,026 | 1,945 | |||||
Dividends received | 914 | 1,199 | 1,133 | 8,469 | 9,077 | |||||
Cash and cash equivalents
Accounting policy
Cash and cash equivalents include highly liquid investments that are readily convertible to known amounts of cash and which are subject to an insignificant risk of change in value. Such investments are normally those with less than three months' maturity from the date of acquisition. |
Cash and cash equivalents
HSBC | HSBC Holdings | |||||||||
2015 | 2014 | 2013 | 2015 | 2014 | ||||||
$m | $m | $m | $m | $m | ||||||
Cash at bank with HSBC undertakings | - | - | - | 242 | 249 | |||||
Cash and balances at central banks | 98,934 | 129,957 | 166,599 | - | - | |||||
Items in the course of collection from other banks | 5,768 | 4,927 | 6,021 | - | - | |||||
Loans and advances to banks of one month or less | 70,985 | 89,285 | 96,584 | - | - | |||||
Reverse repurchase agreements with banks of one month or less | 53,971 | 68,930 | 68,007 | - | - | |||||
Treasury bills, other bills and certificates of deposit less than three months | 19,843 | 14,192 | 15,980 | - | - | |||||
Less: items in the course of transmission to other banks | (5,638) | (5,990) | (6,910) | - | - | |||||
At 31 December | 243,863 | 301,301 | 346,281 | 242 | 249 | |||||
The amount of cash and cash equivalents not available for use by HSBC at 31 December 2015 was $33,744m (2014: $43,738m), of which $21,773m (2014: $29,883m) related to mandatory deposits at central banks.
Disposal of subsidiaries and businesses
During 2014, we completed the disposals of HSBC Bank Middle East Limited's banking business in Jordan and operations in Pakistan. This resulted in a net $303m outflow of cash and cash equivalents which is included under 'Cash flow from investing activities' in the consolidated statement of cash flows on page 340.
In October 2013, we completed the disposal of HSBC Bank (Panama) S.A., receiving total cash consideration of $2,210m which is included under 'Cash flow from investing activities' in the consolidated statement of cash flows on page 340.