HSBC 2001 Annual Report Download - page 128

HSBC HOLDINGS PLC
Other information (continued)
126
Short-term borrowings
HSBC includes short-term borrowings within customer accounts, deposits by banks and debt securities in issue and
does not show short-term borrowings separately on the balance sheet. Short-term borrowings are defined by the SEC
as Federal funds purchased and securities sold under agreements to repurchase, commercial paper and other short-
term borrowings. Securities sold under agreements to repurchase are the only significant short-term borrowings of
HSBC. The following table provides additional information with respect to HSBC’ s securities sold under
agreements to repurchase for each of the past three years.
Year ended 31 December
2001 2000 1999
US$m US$m US$m
Outstanding at 31 December.......................................................... 16,882 16,312 13,139
Average amount outstanding during the year ................................ 23,850 15,374 14,669
Maximum quarter-end balance outstanding during the year .......... 24,901 16,313 13,139
Weighted average interest rate during the year.............................. 4.9% 7.5% 7.4%
Weighted average interest rate at the year-end .............................. 5.1% 6.6% 6.4%