HSBC 2006 Annual Report Download - page 373

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In addition to cash and balances at central banks, items in the course of collection from other banks and items in the
course of transmission to other banks, included in the assets and liabilities acquired above are cash and cash
equivalents of US$736 million.
25 Other assets
2006 2005
US$m US$m
Bullion ............................................................................................................................................... 3,145 2,358
Assets held for sale ............................................................................................................................ 1,826 959
Reinsurers’ share of liabilities under insurance contracts (Note 30) ................................................. 1,769 1,545
Current taxation recoverable ............................................................................................................. 380 496
Deferred taxation (Note 31) ............................................................................................................... 3,241 2,665
Endorsements and acceptances .......................................................................................................... 9,577 7,973
Other accounts ................................................................................................................................... 13,506 10,600
33,444 26,596
Assets held for sale
2006 2005
US$m US$m
Disposal groups and non-current assets held for sale
Interests in associates ........................................................................................................................ 25 162
Property, plant and equipment ........................................................................................................... 1,149 774
Receivables ........................................................................................................................................ 634 23
Other .................................................................................................................................................. 18 –
Total assets classified as held for sale ............................................................................................... 1,826 959
Property, plant and equipment
The property, plant and equipment classified as held for sale is the result of repossession of property that had been
pledged as collateral by customers. These assets are disposed of within 12 months of acquisition. Neither a gain nor
loss was recognised on reclassifying these assets as held for sale. The majority arose within the geographical segment
North America.
Receivables
The receivables classified as held for sale in 2006 relate mainly to a residential mortgage book in New Zealand for
which an agreement to negotiate the sale was entered into in January 2007. Neither a gain nor loss was recognised on
reclassifying these assets as held for sale. These assets are presented within the geographical segment Rest of
Asia-Pacific.
26 Trading liabilities
2006
US$m
2005
US$m
Deposits by banks .............................................................................................................................. 32,040 20,829
Customer accounts ............................................................................................................................. 89,166 59,864
Other debt securities in issue ............................................................................................................. 34,115 26,976
Other liabilities – net short positions ................................................................................................. 71,287 66,696
226,608 174,365