HSBC 2012 Annual Report Download - page 196

HSBC HOLDINGS PLC Report of the Directors: Operating and Financial Review (continued) Risk > Eurozone exposures
194
Exposures to peripheral eurozone countries
Exposures to Spain
(Audited)
At 31 December 2012 At 31 December 2011
Sovereign
and
agencies
Banks
Other
financial
institutions
and
corporates Personal Total
Sovereign
and
agencies
Banks
Other
financial
institutions
and
corporates Personal Total
US$bn US$bn US$bn US$bn US$bn US$bn US$bn US$bn US$bn US$bn
Cash and balances at central banks ............................ – – – – – 0.1 – – – 0.1
Loans and advances .................................................... – 0.1 5.0 – 5.1 – 0.2 5.6 – 5.8
– gross ..................................................................... – 0.1 5.1 – 5.2 – 0.2 5.7 – 5.9
– impairment allowances ........................................ – – (0.1) – (0.1) – – (0.1) – (0.1)
Financial investments available for sale37 .................. 0.4 0.3 0.1 – 0.8 0.9 0.4 0.1 – 1.4
– amortised cost ...................................................... 0.2 0.4 0.1 – 0.7 0.9 0.4 0.1 – 1.4
Trading assets ............................................................. 1.4 1.9 0.1 – 3.4 1.8 2.4 0.2 – 4.4
Derivative assets ......................................................... 0.1 4.8 1.1 – 6.0 0.2 3.6 0.2 – 4.0
Gross balance sheet exposure before risk
mitigation ............................................................... 1.9 7.1 6.3 – 15.3 3.0 6.6 6.1 – 15.7
Risk mitigation ........................................................... (0.9) (4.6) (0.9) – (6.4) (1.8) (3.5) (0.1) – (5.4)
– short trading positions ......................................... (0.9) (0.1) (0.1) – (1.1) (1.7) (0.4) (0.1) – (2.2)
– collateral and derivative liabilities ...................... – (4.5) (0.8) – (5.3) (0.1) (3.1) – – (3.2)
Net on-balance sheet exposure ................................ 1.0 2.5 5.4 – 8.9 1.2 3.1 6.0 – 10.3
Off-balance sheet exposures ....................................... – 0.3 2.9 – 3.2 1.0 0.4 0.6 – 2.0
– commitments ....................................................... – – 2.3 – 2.3 1.0 – 0.1 – 1.1
– guarantees and other ............................................ – 0.3 0.6 – 0.9 – 0.4 0.5 – 0.9
Total net exposure .................................................... 1.0 2.8 8.3 – 12.1 2.2 3.5 6.6 – 12.3
Of which:
– net trading assets representing cash
collateral posted .............................................. – 1.5 – – 1.5 0.1 1.3 – – 1.4
– on-balance sheet exposures held to meet
DPF insurance liabilities ................................. 0.2 0.3 0.1 – 0.6 0.4 0.4 0.1 – 0.9
Total credit default swaps
– CDS bought positions .......................................... 0.4 – – – 0.4 0.4 0.1 0.1 – 0.6
– CDS sold positions .............................................. (0.3) – – – (0.3) (0.4) (0.1) (0.1) – (0.6)
– CDS bought notionals ......................................... 6.8 2.8 1.2 – 10.8 3.3 1.5 1.4 – 6.2
– CDS sold notionals .............................................. 6.4 2.7 1.2 – 10.3 3.5 1.4 1.3 – 6.2
For footnote, see page 249.
For commentary, see page 199.