HSBC 2008 Annual Report Download - page 431

429
HSBC Holdings
At 31 December 2008
Due within
one year
Due after
more than
one year Total
US$m US$m US$m
Assets
Loans and advances to HSBC undertakings ................................................... 4,842 6,962 11,804
Financial investments ...................................................................................... – 2,629 2,629
Other financial assets ....................................................................................... 25 – 25
4,867 9,591 14,458
Liabilities
Amounts owed to HSBC undertakings ........................................................... 176 3,866 4,042
Financial liabilities designated at fair value .................................................... 1,500 14,889 16,389
Other financial liabilities ................................................................................. 1,805 11 1,816
Subordinated liabilities .................................................................................... – 14,017 14,017
3,481 32,783 36,264
At 31 December 2007
Due within
one year
Due after
more than
one year Total
US$m US$m US$m
Assets
Loans and advances to HSBC undertakings ................................................... 7,371 9,871 17,242
Financial investments ...................................................................................... 346 2,676 3,022
Other financial assets ....................................................................................... 21 – 21
7,738 12,547 20,285
Liabilities
Amounts owed to HSBC undertakings ........................................................... 1,906 1,063 2,969
Financial liabilities designated at fair value .................................................... – 18,683 18,683
Other financial liabilities ................................................................................. 1,397 8 1,405
Subordinated liabilities .................................................................................... – 8,544 8,544
3,303 28,298 31,601
34 Foreign exchange exposures
Structural foreign exchange exposures
HSBC’s structural foreign exchange exposures are represented by the net asset value of its foreign exchange equity
and subordinated debt investments in subsidiaries, branches, joint ventures and associates. Gains or losses on
structural foreign exchange exposures are recognised directly in equity. HSBC’s management of its structural foreign
exchange exposures is discussed in the ‘Report of the Directors: Risk’ on page 242.
In its separate financial statements, HSBC Holdings recognises its foreign exchange gains and losses on structural
foreign exchange exposures in the income statement.