HSBC 2008 Annual Report Download - page 186

HSBC HOLDINGS PLC
Report of the Directors: Impact of Market Turmoil (continued)
SPEs > SIVs and conduits > Maximum ex
p
osures
184
HSBC’s maximum exposure to consolidated SPEs affected by the recent market turmoil Securities Enhanced Non-money market funds
SIVs
investment conduits1
Multi-seller conduits
CNAV funds
VNAV funds
VNAV funds
Specialist funds
Local funds2
Securit- isations3 Other Total
US$bn US$bn US$bn US$bn US$bn US$bn US$bn US$bn US$bn US$bn US$bn
At 31 December 2008
Total assets ............................................. 0.4 32.3 13.9 43.8 0.7 1.4 0.6 3.1 54.6 0.3 151.1
Direct lending4 .................................... – – – – – – – – 1.3 – 1.3
ABSs4 ................................................. – 25.8 – 0.8 – – – – – – 26.6 Other ................................................... 0.4 6.5 13.9 43.0 0.7 1.4 0.6 3.1 53.3 0.3 123.2
Funding provided by HSBC ................... – 38.6 2.1 0.7 0.6 1.3 0.2 3.2 0.7 0.2 47.6
CP ....................................................... – 18.7 2.1 – – – – – – – 20.8
MTNs .................................................. – 3.4 – – – – – – 0.4 0.2 4.0 Junior notes ........................................ – – – – – – – – 0.3 – 0.3 Term repos executed .......................... – 14.1 – – – – – – – – 14.1 Investments in funds .......................... – – – 0.7 0.6 1.3 0.2 3.2 – – 6.0 Drawn liquidity facility....................... – 2.4 – – – – – – – – 2.4 Capital notes5 ...................................... – – – – – – – – – – –
Total maximum exposure to
consolidated SPEs ................................ – 47.6 17.1
0.8 0.6
1.3
0.2 3.2 27.0
0.2
98.0
Liquidity and credit enhancements
Deal-specific liquidity facilities ......... – – 17.1 – – – – – – – 17.1
Indemnities ......................................... – – – 0.1 – – – – – – 0.1
Programme-wide liquidity facilities .. – 34.8 – – – – – – – – 34.8
Programme-wide limited credit
enhancements .................................. – 1.2 0.6 – – – – – – – 1.8
Other liquidity and credit
enhancements .................................. – – – – – – – – 0.1 – 0.1