HSBC 2001 Annual Report Download - page 232

HSBC HOLDINGS PLC
Notes on the Financial Statements (continued)
230
31 December 2001
Not more
than three
months
More than
three
months
but not
more than
six months
More than
six months
but no
t
more than
one yea
r
More than
one yea
r
but no
t
more than
five years More than five years
Non-
interes
t
bearin
g
Bankin
g
book total Tradin
g
book total Total
US$m US$m US$m US$m US$m US$m US$m US$m US$m
Assets
Treasury bills and
other eligible bills 10,421 1,469 818 194 – – 12,902 5,069 17,971
Loans and advances
to banks ............... 75,585 6,068 4,001 648 275 2,768 89,345 15,296 104,641
Loans and advances
to customers......... 200,329 17,426 13,429 34,637 17,224 2,658 285,703 22,946 308,649
Debt securities and
equity shares........ 36,563 4,672 6,651 28,385 16,244 5,506 98,021 70,615 168,636
Other assets ............. 1,432 – – – – 75,310 76,742 19,238 95,980
Total assets ............. 324,330 29,635 24,899 63,864 33,743 86,242 562,713 133,164 695,877
Liabilities
Deposits by banks.... (34,477 ) (2,182 ) (1,330 ) (1,009 ) (310) (2,888 ) (42,196 ) (11,444 ) (53,640 )
Customer accounts .. (354,944 ) (12,976 ) (10,422 ) (3,833) (614) (46,214 ) (429,003 ) (20,988 ) (449,991 )
Debt securities in
issue...................... (14,248 ) (2,011 ) (2,048 ) (6,922 ) (1,291 ) – (26,520 ) (578 ) (27,098 )
Other liabilities........ (32) – (6) (285) (32) (48,334) (48,689) (48,510) (97,199)
Loan capital and
other
subordinated
liabilities.............. (5,016) (1,286 ) (1,062 ) (2,517 ) (5,599 ) – (15,480 ) – (15,480 )
Minority interests
and shareholders’
funds..................... – – – – – (51,005) (51,005) (1,464) (52,469)
Internal funding of
the trading book... 41,005 2,437 2,755 4,309 76 (402) 50,180 (50,180) –
Total liabilities ....... (367,712) (16,018) (12,113) (10,257) (7,770) (148,843) (562,713) (133,164) (695,877)
Off-balance-sheet
items.................... (9,682) 2,436 (2,656 ) 10,712 (810 ) – – – –
Interest rate
sensitivity gap..... (53,064 ) 16,053 10,130 64,319 25,163 (62,601) – – –
Cumulative
interest rate
sensitivity gap..... (53,064) (37,011) (26,881) 37,438 62,601 – – – –
The presentation of the interest rate sensitivity gap table has been changed to disclose trading balances to
facilitate reconciliation with the balance sheet. Balances representing internal funding of trading activities have
been moved from ‘Other assets’ and ‘Other liabilities’ to form a single line ‘Internal funding of the trading
book’ .
A positive interest rate sensitivity gap exists where more assets than liabilities reprice during a given period.
Although a positive gap position tends to benefit net interest income in a rising interest rate environment, the
actual effect will depend on a number of factors, including the extent to which repayments are made earlier or
later than the contracted date and variations in interest rates within repricing periods and among currencies.
Similarly, a negative interest rate sensitivity gap exists where more liabilities than assets reprice during a given
period. In this case, a negative gap position tends to benefit net interest income in a declining interest rate