HSBC 2012 Annual Report Download - page 460

HSBC HOLDINGS PLC
Notes on the Financial Statements (continued)
20 – Financial investments / 21 – Transfers of financial assets
458
Maturities of investments in debt securities at their carrying amount
At 31 December
2012 2011
US$m US$m
Remaining contractual maturity of total debt securities:
1 year or less ......................................................................................................................................... 67,268 87,080
5 years or less but over 1 year .............................................................................................................. 157,075 128,192
10 years or less but over 5 years .......................................................................................................... 47,123 52,251
Over 10 years ........................................................................................................................................ 56,296 60,088
327,762 327,611
Remaining contractual maturity of debt securities available for sale:
1 year or less ......................................................................................................................................... 65,500 85,821
5 years or less but over 1 year .............................................................................................................. 149,195 120,763
10 years or less but over 5 years .......................................................................................................... 39,498 44,946
Over 10 years ........................................................................................................................................ 50,156 55,063
304,349 306,593
Remaining contractual maturity of debt securities held to maturity:
1 year or less ......................................................................................................................................... 1,768 1,259
5 years or less but over 1 year .............................................................................................................. 7,880 7,429
10 years or less but over 5 years .......................................................................................................... 7,625 7,305
Over 10 years ........................................................................................................................................ 6,140 5,025
23,413 21,018
Contractual maturities and weighted average yields of investment debt securities at 31 December 2012
Within one year
After one year but
within five years
After five years but
within ten years After ten years
Amount Yield Amount Yield Amount Yield Amount Yield
US$m % US$m % US$m % US$m %
Available for sale
US Treasury ............................................. 12,306 0.4 30,334 0.5 6,113 2.0 2,237 3.5
US Government agencies ........................ 6 2.6 7 5.3 94 1.9 22,128 2.9
US Government-sponsored agencies ....... 5 2.0 360 2.6 2,968 3.1 807 3.7
UK Government ....................................... 162 0.2 13,793 1.5 1,286 5.9 634 5.1
Hong Kong Government ......................... 946 0.5 686 2.0 – – – –
Other governments .................................. 38,327 2.5 60,048 2.7 10,198 4.4 2,112 3.8
Asset-backed securities ........................... 336 0.1 2,682 0.4 7,643 0.2 19,181 0.2
Corporate debt and other securities ......... 13,312 3.2 39,667 2.5 8,123 3.5 3,325 5.1
Total amortised cost ................................. 65,400 147,577 36,425 50,424
Total carrying value ................................. 65,500 149,195 39,498 50,156
Held to maturity
US Treasury ............................................. 22 4.2 21 4.4 50 4.8 143 4.4
US Government agencies ........................ – – 1 7.6 3 7.7 338 6.5
US Government-sponsored agencies ....... 1 8.1 6 7.8 1 7.8 1,113 6.2
Hong Kong Government ......................... – – 30 0.4 10 4.1 3 1.2
Other governments .................................. 71 2.8 480 3.8 254 5.2 562 5.1
Asset-backed securities ........................... – – – – – – 118 6.3
Corporate debt and other securities ......... 1,674 4.4 7,342 3.8 7,307 4.2 3,863 4.2
Total amortised cost ................................. 1,768 7,880 7,625 6,140
Total carrying value ................................. 1,768 7,880 7,625 6,140
The maturity distributions of asset-backed securities are presented in the above table on the basis of contractual
maturity dates. The weighted average yield for each range of maturities is calculated by dividing the annualised
interest income for the year ended 31 December 2012 by the book amount of available-for-sale debt securities at
that date. The yields do not include the effect of related derivatives.
21 Transfers of financial assets
HSBC enters into transactions in the normal course of business by which it transfers financial assets to third parties
including SPEs. Depending on the circumstances these transfers may either result in these financial assets being
derecognised or continuing to be recognised.