HSBC 2005 Annual Report Download - page 173

171
Rating agency designation
The following table presents the analysis of treasury bills, other eligible bills and debt securities within HSBC’s
insurance business by rating agency designation at 31 December 2005 based on Standard and Poor’s ratings or
equivalent:
Treasury
bills
Other eligible
bills
Debt
securities Total
US$m US$m US$m US$m
Supporting liabilities under non-linked insurance
contracts
AAA ........................................................................ 117 224 3,367 3,708
AA– to AA+ ............................................................ – 223 3,372 3,595
A– to A+ ................................................................. – – 1,459 1,459
Lower than A– ........................................................ ––382382
Unrated .................................................................... – – 60 60
117 447 8,640 9,204
Supporting shareholder’s funds
AAA ........................................................................ 221 109 892 1,222
AA– to AA+ ............................................................ –7606613
A– to A+ ................................................................. ––787787
Lower than A– ........................................................ ––183183
Unrated .................................................................... ––77
221 116 2,475 2,812
Total1
AAA ........................................................................ 338 333 4,259 4,930
AA– to AA+ ............................................................ – 230 3,978 4,208
A– to A+ ................................................................. – – 2,246 2,246
Lower than A– ........................................................ ––565565
Unrated .................................................................... – – 67 67
338 563 11,115 12,016
Of which issued by:
– government ........................................................... 338 – 2,224 2,562
– local authorities .................................................... – – 76 76
– corporates ............................................................. – – 8,424 8,424
– other ..................................................................... –563391954
Of which classified as:
– trading assets ........................................................ 124 – 153 277
– financial instruments designated at fair value ....... 43 – 2,867 2,910
– available-for-sale securities .................................. 171 563 3,109 3,843
– held-to-maturity investments ................................ – – 4,986 4,986
1Excludes treasury bills, other eligible bills and debt securities held by insurance underwriting associates Erisa, S.A. and Ping An
Insurance.