HSBC 2008 Annual Report Download - page 63

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Certificates of deposit and other time deposits
At 31 December 2008, the maturity analysis of CDs and other wholesale time deposits, by remaining maturity, was
as follows:
3 months
or less
After
3 months
but within
6 months
After
6 months
but within
12 months
After
12 months Total
US$m US$m US$m US$m US$m
Europe
Certificates of deposit .......................... 23,911 483 192 – 24,586
Time deposits:
– banks .................................................. 34,951 1,943 2,418 4,649 43,961
– customers ........................................... 78,562 5,140 4,135 1,598 89,435
137,424 7,566 6,745 6,247 157,982
Hong Kong
Certificates of deposit .......................... 145 137 280 904 1,466
Time deposits:
– banks .................................................. 1,031 5 – 67 1,103
– customers ........................................... 21,898 1,057 274 419 23,648
23,074 1,199 554 1,390 26,217
Rest of Asia-Pacific
Certificates of deposit .......................... 2,324 1,383 928 248 4,883
Time deposits:
– banks .................................................. 3,912 887 310 164 5,273
– customers ........................................... 13,106 1,651 670 1,490 16,917
19,342 3,921 1,908 1,902 27,073
North America
Time deposits:
– banks .................................................. 10,209 2 5 201 10,417
– customers ........................................... 13,882 720 248 310 15,160
24,091 722 253 511 25,577
Latin America
Certificates of deposit .......................... 1,161 640 60 316 2,177
Time deposits:
– banks .................................................. 2,360 1,446 389 264 4,459
– customers ........................................... 10,357 1,389 1,071 359 13,176
13,878 3,475 1,520 939 19,812
Total
Certificates of deposit .......................... 27,541 2,643 1,460 1,468 33,112
Time deposits:
– banks .................................................. 52,463 4,283 3,122 5,345 65,213
– customers ........................................... 137,805 9,957 6,398 4,176 158,336
217,809 16,883 10,980 10,989 256,661
The geographical analysis of deposits is based on the location of the office in which the deposits are recorded and excludes balances with
HSBC companies. The majority of certificates of deposit and time deposits are in amounts of US$100,000 and over or the equivalent in
other currencies.
Critical accounting policies
(Audited)
Introduction
The results of HSBC are sensitive to the accounting
policies, assumptions and estimates that underlie the
preparation of its consolidated financial statements.
The significant accounting policies used in the
preparation of the consolidated financial statements
are described in Note 2 on the Financial Statements.
When preparing the financial statements, it is the
Directors’ responsibility under UK company law
to select suitable accounting policies and to make
judgements and estimates that are reasonable and
prudent.
The accounting policies that are deemed critical
to HSBC’s results and financial position, in terms
of the materiality of the items to which the policy
is applied, and which involve a high degree of
judgement including the use of assumptions and
estimation, are discussed below.