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HSBC HOLDINGS PLC

Report of the Directors: Impact of Market Turmoil (continued)

SPEs > SIVs and conduits

184

Composition of asset portfolio

Solitaire

Other

SICs

Total

SICs

Total

multi-seller

conduits26

Total

SIVs

US$bn

US$bn US$bn

US$bn

US$bn

Asset class at 31 December 2009

Structured finance

Vehicle loans and equipment leases ............ – – – 3.0 –

Consumer receivables .................................. – – – 0.8 –

Credit card receivables ................................ 0.2 – 0.2 1.3 –

Residential MBSs ........................................ 3.8 4.6 8.4 0.3 –

Commercial MBSs ....................................... 2.4 3.3 5.7 0.2 –

Auto floor plan ............................................. – – – 0.5 –

Trade receivables ......................................... – – – 2.8 –

Student loan securities ................................. 2.3 1.8 4.1 – –

Vehicle finance loan securities .................... 0.1 0.2 0.3 – –

Leverage loan securities .............................. 1.9 2.3 4.2 – –

Other ABSs .................................................. 1.0 1.8 2.8 1.2 –

11.7 14.0 25.7 10.1 –

Finance

Commercial bank securities and deposits ... 0.1 4.8 4.9 0.6 –

Investment bank debt securities ................... – 0.8 0.8 – –

Finance company debt securities ................. – 0.2 0.2 0.2 –

Other assets .................................................. 1.0 0.2 1.2 – –

1.1 6.0 7.1 0.8 –

12.8 20.0 32.8 10.9 –

Sub-prime mortgages ...................................... 0.7 1.5 2.2 – –

US Alt-A ......................................................... 1.9 1.8 3.7 – –

2.6 3.3 5.9 – –

Asset class at 31 December 2008

Structured finance

Vehicle loans and equipment leases ............ – – – 3.9 –

Consumer receivables .................................. – – – 0.7 –

Credit card receivables ................................ 0.2 – 0.2 1.4 –

Residential MBSs ........................................ 4.4 5.7 10.1 0.6 –

Commercial MBSs ....................................... 2.1 3.1 5.2 0.2 –

Auto floor plan ............................................. – – – 2.2 –

Trade receivables ......................................... – – – 2.7 –

Student loan securities ................................. 2.2 2.0 4.2 – –

Vehicle finance loan securities .................... – 0.3 0.3 – –

Leverage loan securities .............................. 1.5 2.2 3.7 – –

Other ABSs .................................................. 0.8 1.3 2.1 1.7 –

11.2 14.6 25.8 13.4 –

Finance

Commercial bank securities and deposits ... – 4.4 4.4 0.4 –

Investment bank debt securities ................... – 0.5 0.5 – –

Finance company debt securities ................. – 0.4 0.4 – 0.3

Other assets .................................................. 0.9 0.3 1.2 0.1 0.1

0.9 5.6 6.5 0.5 0.4

12.1 20.2 32.3 13.9 0.4

Sub-prime mortgages ...................................... 0.9 1.3 2.2 – –

US Alt-A ......................................................... 2.3 2.2 4.5 – –

3.2 3.5 6.7 – –

For footnote, see page 195.