HSBC 2001 Annual Report Download - page 192

HSBC HOLDINGS PLC
Notes on the Financial Statements (continued)
190
Held-to-maturity Book value
M
arke
t
valuation
1 year or less .............................................................................................................. 22 22
5 years or less but over 1 year.................................................................................... 182 191
10 years or less but over 5 years ................................................................................ 463 484
Over 10 years ............................................................................................................. 4,009 4,169
4,676 4,866
The following table provides an analysis of contractual maturities and weighted average yields of investment debt
securities as at 31 December 2001:
Within one year
After one but within
five years
After five but within
ten years After ten years No fixed maturity
Amount Yiel
d
Amoun
t
Yiel
d
Amount Yiel
d
Amount Yiel
d
Amount Yiel
d
Available-for-sale US$m % US$m % US$m % US$m % US$m %
US Treasury and
Government
agencies.............. 2,156 6.11 3,210 5.44 897 4.00 11,189 5.22 – –
UK Government .... 1,5696.483115.73––––––
Hong Kong SAR
Government ....... 6 6.06 345 4.40 139 9.41 – – – –
Other governments 2,820 3.85 11,291 2.83 1,623 6.39 478 8.46 – –
Asset-backed
securities ............ 67 3.57 1,554 3.64 1,517 2.82 1,397 2.91 – –
Corporate debt and
other securities ... 14,330 3.90 27,271 4.48 4,188 5.15 1,280 4.89 952 5.63
20,948 43,982 8,364 14,344 952
Held-to-maturity
US Treasury and
Government
agencies.............. 17 7.44 143 7.26 319 7.19 3,428 7.13 – –
Corporate debt and
other securities ... 5 7.30 39 7.47 144 5.79 581 5.59 – –
22 182 463 4,009 –
The maturity distributions of asset-backed securities are presented in the above table based upon contractual
maturity dates. The weighted average yield for each range of maturities in the above table is calculated by dividing
the annualised interest income for the year ended 31 December 2001 by the book amount of available-for-sale debt
securities at that date. The yields do not include the effect of related derivatives.
Proceeds from the sale and redemption of investment securities were US$87,626 million (2000: US$109,300
million). Gross realised gains of US$359 million (2000: US$123 million) and gross realised losses of US$180
million (2000: US$58 million) were recorded on those sales. Realised gains and losses are computed using the
weighted average cost method. There were no gains or losses recorded on securities transferred from the investment
book to the trading book.
The cost of investment securities purchased during the year ended 31 December 2001 was US$94,214 million
(2000: US$107,025 million).