HSBC 2006 Annual Report Download - page 240

HSBC HOLDINGS PLC
Report of the Directors: The Management of Risk (continued)
Insurance operations > Credit risk
238
(Audited)
Treasury
bills
Other eligible
bills
Debt
securities Total
US$m US$m US$m US$m
At 31 December 2006
Supporting liabilities under non-linked insurance
contracts
AAA ......................................................................... 217 145 3,876 4,238
AA– to AA+ ............................................................. – 210 3,994 4,204
A– to A+ ................................................................... – – 1,880 1,880
Lower than A– .......................................................... – – 667 667
Unrated ..................................................................... 22 – 110 132
239 355 10,527 11,121
Supporting shareholders’ funds1
AAA ......................................................................... 119 137 918 1,174
AA– to AA+ ............................................................. – 8 903 911
A– to A+ ................................................................... – – 692 692
Lower than A– .......................................................... 21 – 180 201
Unrated ..................................................................... 1 – 28 29
141 145 2,721 3,007
Total2
AAA ......................................................................... 336 282 4,794 5,412
AA– to AA+ ............................................................. – 218 4,897 5,115
A– to A+ ................................................................... – – 2,572 2,572
Lower than A– .......................................................... 21 – 847 868
Unrated ..................................................................... 23 – 138 161
380 500 13,248 14,128
Of which issued by:
– government ............................................................ 380 – 2,825 3,205
– local authorities ..................................................... – – 69 69
– corporates .............................................................. – 500 9,740 10,240
– other ....................................................................... – – 614 614
380 500 13,248 14,128
Of which classified as:
– trading assets ......................................................... – – 156 156
– financial instruments designated at fair value ....... 79 – 3,458 3,537
– available-for-sale securities ................................... 257 500 3,437 4,194
– held-to-maturity investments ................................ 44 – 6,197 6,241
380 500 13,248 14,128