HSBC 2008 Annual Report Download - page 398

HSBC HOLDINGS PLC
Notes on the Financial Statements (continued)
Notes 16 and 17
396
16 Trading assets
2008 2007
US$m US$m
Trading assets:
– not subject to repledge or resale by counterparties ................................................................... 340,675 308,286
– which may be repledged or resold by counterparties ............................................................... 86,654 137,682
427,329 445,968
Treasury and other eligible bills ........................................................................................................ 32,458 16,439
Debt securities ................................................................................................................................... 199,619 178,834
Equity securities ................................................................................................................................ 21,878 51,476
253,955 246,749
Loans and advances to banks ............................................................................................................ 73,055 100,440
Loans and advances to customers ..................................................................................................... 100,319 98,779
427,329 445,968
The following table provides an analysis of trading securities:
Fair value
2008 2007
US$m US$m
US Treasury and US Government agencies1 ..................................................................................... 26,621 17,335
UK Government ................................................................................................................................. 10,586 11,607
Hong Kong Government ................................................................................................................... 6,648 5,517
Other government .............................................................................................................................. 98,983 80,268
Asset-backed securities2 .................................................................................................................... 6,566 21,502
Corporate debt and other securities ................................................................................................... 82,673 59,044
Equity securities ................................................................................................................................ 21,878 51,476
253,955 246,749
1 Includes securities that are supported by an explicit guarantee issued by the US Government.
2 Excludes asset-backed securities included under US Treasury and US Government agencies.
Included within the above figures are debt securities issued by banks and other financial institutions of
US$49,997 million (2007: US$69,818 million), of which US$3,449 million (2007: US$1,488 million) are guaranteed
by various governments.
The following table analyses trading securities between those listed on a recognised exchange and those that are
unlisted:
Treasury
and other
eligible bills
Debt
securities
Equity
securities
Total
US$m US$m US$m US$m
Fair value at 31 December 2008
Listed on a recognised exchange1 ................................ 1 145,370 20,871 166,242
Unlisted ......................................................................... 32,457 54,249 1,007 87,713
32,458 199,619 21,878 253,955
Fair value at 31 December 2007
Listed on a recognised exchange1 ................................ 34 115,593 50,092 165,719
Unlisted ......................................................................... 16,405 63,241 1,384 81,030
16,439 178,834 51,476 246,749
1 Included within listed investments are US$3,870 million (2007: US$6,977 million) of investments listed in Hong Kong.