HSBC 2011 Annual Report Download - page 119

117
Overview Operating & Financial Review Corporate Governance Financial Statements Shareholder Information
Exposures to peripheral eurozone countries – banks
(Audited)
Greece Ireland Italy Portugal Spain Total
US$bn US$bn US$bn US$bn US$bn US$bn
At 31 December 2011
Loans and advances ........................... 0.1 0.1 0.5 0.3 0.2 1.2
Financial investments held
to maturity ..................................... – 0.2 0.2 – – 0.4
– fair value .................................... – 0.2 0.2 – – 0.4
Financial investments available
for sale11 ......................................... – 0.4 0.3 – 0.4 1.1
– amortised cost ............................. – 0.4 0.3 – 0.4 1.1
Net trading assets ............................... 0.4 0.9 0.6 0.1 2.0 4.0
– gross trading assets ..................... 0.4 0.9 0.6 0.1 2.4 4.4
– short positions ............................ – – – – (0.4) (0.4)
Derivatives12 ...................................... 0.2 0.3 0.4 0.1 0.5 1.5
– gross derivative assets ................ 0.7 8.3 1.9 0.2 3.6 14.7
– collateral and derivative
liabilities ................................ (0.5) (8.0) (1.5) (0.1) (3.1) (13.2)
Total ................................................... 0.7 1.9 2.0 0.5 3.1 8.2
Of which, on-balance sheet
exposures held to meet
insurance liabilities ........................ – 0.2 0.4 – 0.4 1.0
– discretionary participatory ......... – 0.2 0.4 – 0.4 1.0
Off-balance sheet exposures .............. 0.2 – 0.1 – 0.4 0.7
– guarantees and other ................... 0.2 – 0.1 – 0.4 0.7
Total credit default swaps
– CDS asset positions .................... – – 0.5 0.1 0.1 0.7
– CDS liability positions ............... – – (0.5) (0.1) (0.1) (0.7)
– CDS asset notionals .................... – – 3.5 0.6 1.5 5.6
– CDS liability notionals ............... – – 3.5 0.5 1.4 5.4
For footnotes, see page 185.
Summary balance sheet exposures to core eurozone countries – banks
(Audited)
France Germany
The
Netherlands Total
US$bn US$bn US$bn US$bn
At 31 December 2011 .............................................................................. 47 21 15 83
Other financial institutions and other corporates
(Unaudited)
The credit quality of other financial institutions and
other corporate portfolios remains strong with no
significant impairments recognised in respect of
them. The portfolios largely comprise large
multinational corporates and other financial
institutions with significant operations outside these
countries that mitigate the risk. At 31 December
2011, our exposure to Greek shipping companies
amounted to US$2.0bn. We believe the industry is
less sensitive to the Greek economy as it is mainly
dependent on international trade.