HSBC 2002 Annual Report Download - page 242

HSBC HOLDINGS PLC
Notes on the Financial Statements (continued)
240
27 Other assets
2002 2001*
US$m US$m
Bullion ..................................................................................................................... 2,962 1,619
Assets, including gains, resulting from off-balance-sheet interest rate, exchange
rate and equities contracts which are marked to market....................................... 21,163 15,575
Current taxation recoverable.................................................................................... 134 287
Deferred taxation (Note 32) ..................................................................................... 1,135 1,115
Long-term assurance assets attributable to policyholders (Note 31)........................ 10,356 9,712
Other accounts ......................................................................................................... 10,134 10,324
45,884 38,632
* Figures for 2001 have been restated to reflect the adoption of UK Financial Reporting Standard 19 ‘Deferred Tax’, details of which
are set out in Note 1 on the Financial Statements on pages 195 to 197.
The composition of the net tangible assets relating to long-term assurance and retirement funds is analysed
as follows:
2002 2001
US$m US$m
Loans and advances to banks – with HSBC companies........................................... 234 318
Debt securities ......................................................................................................... 4,436 3,381
Equity shares............................................................................................................ 3,690 3,863
Other assets.............................................................................................................. 2,131 2,298
Prepayments and accrued income............................................................................ 78 46
Other liabilities ........................................................................................................ (213) (194)
10,356 9,712
Included in the above are 8,302,220 (2001: 8,104,024) shares in HSBC Holdings valued at US$92 million
(2001:US$95 million) held by subsidiary undertakings, as part of their long-term assurance and retirement funds for
the benefit of the policyholders.
28 Deposits by banks
2002 2001
US$m US$m
Repayable on demand.............................................................................................. 18,093 18,132
With agreed maturity dates or periods of notice, by remaining maturity:
– 3 months or less but not repayable on demand..................................................... 27,416 27,845
– 1 year or less but over 3 months........................................................................... 4,804 5,234
– 5 years or less but over 1 year .............................................................................. 1,671 1,808
– over 5 years .......................................................................................................... 949 621
52,933 53,640
Amounts include:
Due to joint ventures................................................................................................
–
192
Due to associates...................................................................................................... 214 29