HSBC 2002 Annual Report Download - page 102
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HSBC HOLDINGS PLC
Financial Review (continued)
100
consolidate the VIE. Management have performed an
initial review of HSBC’ s VIEs in order to provide the
disclosures required in respect of VIEs both where
HSBC is and is not likely to be the primary
beneficiary.
HSBC has adopted the disclosure requirements of
the Interpretation. The accounting requirements apply
immediately to VIEs, in which HSBC has a variable
interest created after 31 January 2003, and to existing
VIEs from 1 July 2003. The impact of the accounting
provisions of the Interpretation on HSBC’ s financial
statements is still being assessed.