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215

36 Reserves

HSBC HSBC

Holdings Associates

US$m US$m US$m

Share premium account:

At 1 January 2001 ..................................................................... 3,305 3,305 –

Shares issued to QUEST ........................................................... 37 37 –

Shares issued under other option schemes................................. 68 68 –

Shares issued in lieu of dividends ............................................. (37) (37) –

At 31 December 2001 .............................................................. 3,373 3,373 –

Other reserves:

– Reserve in respect of obligations under CCF share options:

At 1 January 2001 ..................................................................... 496 496 –

On exercise of CCF share options ............................................ (16) (16) –

At 31 December 2001 .............................................................. 480 480 –

– Merger reserve:

At 1 January and 31 December 2001......................................... 8,290 – –

Total other reserves....................................................................... 8,770 480 –

Revaluation reserves:

– Investment property revaluation reserve:

At 1 January 2001 ..................................................................... 289 – 53

Unrealised deficit on revaluation of land and buildings............ (23) – (5)

Transfer from revaluation reserve ............................................. 8––

Exchange and other movements ................................................ (5) – (2 )

At 31 December 2001 .............................................................. 269 – 46

– Revaluation reserve:

At 1 January 2001 ..................................................................... 2,322 31,652 10

Realisation on disposal of properties......................................... (7) – –

Unrealised deficit on revaluation of properties ......................... (227) (3) –

Transfer of depreciation from profit and loss account reserve (54 ) – –

Transfer to investment property revaluation reserve ................. (8) – (4 )

Net increase in attributable net assets of subsidiary

undertakings (Note 26(a))...................................................... – 496 –

Exchange and other movements ................................................ (24 ) 27 –

At 31 December 2001 .............................................................. 2,002 32,172 6

Total revaluation reserves ............................................................. 2,271 32,172 52