HSBC 2008 Annual Report Download - page 187

185
Securities Non-money market funds
SIVs
investment conduits1
Multi-seller conduits
Enhanced VNAV funds
Specialist funds
Local funds2,6
Securit- isations3 Other Total
US$bn US$bn US$bn US$bn US$bn US$bn US$bn US$bn US$bn At 31 December 2007
Total assets ............................................................................................. 40.7 21.6 15.8 5.7 1.0 3.1 74.7 0.1 162.7
Direct lending4 .................................................................................... – – – – – – 3.6 – 3.6
ABSs4 ................................................................................................. 32.1 21.0 – – – – – – 53.1 Other ................................................................................................... 8.6 0.6 15.8 5.7 1.0 3.1 71.1 0.1 106.0
Funding provided by HSBC ................................................................... 15.9 7.8 8.6 4.6 0.4 2.8 1.0 – 41.1
CP ....................................................................................................... 2.4 7.8 8.6 – – – – – 18.8
MTNs .................................................................................................. 5.3 – – – – – 0.3 – 5.6 Junior notes ........................................................................................ – – – – – – 0.7 – 0.7 Term repos executed .......................................................................... 8.2 – – – – – – – 8.2 Investments in funds .......................................................................... – – – 4.6 0.4 2.8 – – 7.8
Total maximum exposure to consolidated SPEs .................................... 40.0 25.7 21.2 4.6 0.4 2.8 30.6 0.1 125.4 Liquidity and credit enhancements
Deal-specific liquidity facilities ......................................................... – – 21.2 – – – – – 21.2
Programme-wide liquidity facilities .................................................. 0.8 25.7 – – – – – – 26.5
Programme-wide limited credit enhancements ................................. – 0.2 0.7 – – – – – 0.9 Other liquidity and credit enhancements ........................................... – – – – – – 0.2 – 0.2
1 The securities investment conduits include Mazarin, Barion, Malachite and Solitaire.
2 Local investment management funds. 3 Also includes consolidated SPEs that hold mortgage loans held at fair value.
4 These assets only include those measured at fair value. For details on the geographical origin of the mortgage loans held at fair value and ABSs, including those represented by MBSs and CDOs held in
consolidated SIVs and securities investment conduits, see ‘Nature and extent of HSBC’s exposures’ on page 150. The geographical origin of the loans and receivables held by the multi-seller conduits is disclosed on page 177.
5 The carrying amount of HSBC’s holding of capital notes in the securities investment conduits amounted to US$1.9 million (2007: n/a) with a par value of US$52 million (2007: n/a).
6 Total assets for 2007 have been restated as a result of reclassifying assets amounting to US$17 billion from VNAV to local funds.