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HSBC BANK CANADA
106
24 Fair values of financial instruments (continued)
Bases of valuing financial assets and liabilities measured at fair value
The table below provides an analysis of the various bases described above which have been deployed for valuing
financial assets and financial liabilities measured at fair value in the consolidated financial statements.
Valuation techniques
Level 1
Quoted
market price
$m
Level 2
using
observable
inputs
$m
Level 3 with
significant
unobservable
inputs
$m
Total
$m
At 31 December 2013
Assets
Trading assets .............................................................. 2,754 3,974 – 6,728
Derivatives .................................................................. – 2,078 34 2,112
Financial investments: available-for-sale.................... 19,143 2,671 – 21,814
Liabilities
Trading liabilities ........................................................ 3,470 917 9 4,396
Financial liabilities at fair value .................................. – 428 – 428
Derivatives .................................................................. – 1,712 34 1,746
At 31 December 2012
Assets
Trading assets .............................................................. 2,292 2,980 – 5,272
Derivatives .................................................................. – 1,805 5 1,810
Financial investments: available-for-sale.................... 17,705 2,697 9 20,411
Liabilities
Trading liabilities ........................................................ 2,119 504 49 2,672
Financial liabilities at fair value .................................. – 436 – 436
Derivatives .................................................................. – 1,408 7 1,415
Reconciliation of fair value measurements in Level 3 of the fair value hierarchy
Assets Liabilities
Available-
for-sale
$m
Derivatives
$m
Held for
trading
$m
Designated
at fair value
$m
Derivatives
$m
At 1 January 2013 ............................... 9 5 49 – 7
Total gains or losses recognized in
profit or loss .................................. 1 34 1 – 32
Issues ................................................... – – 15 – –
Settlements .......................................... (10) – (1) – –
Transfer out ......................................... – (5) (55) – (5)
At 31 December 2013 ......................... – 34 9 – 34
Total gains or losses recognized in
profit or loss relating to those assets
and liabilities held at the end of the
reporting period ................................ – 34 – – 34
Notes on the Consolidated Financial Statements (continued)