HSBC 2008 Annual Report Download - page 421

419
Assets held for sale
2008 2007
US$m US$m
Non-current assets held for sale
Interests in associates ........................................................................................................................ 2 2
Property, plant and equipment ........................................................................................................... 2,007 2,502
Investment properties ........................................................................................................................ 2 111
Financial assets .................................................................................................................................. 62 185
Other .................................................................................................................................................. 2 4
Total assets classified as held for sale ............................................................................................... 2,075 2,804
Property, plant and equipment
The property, plant and equipment classified as held for sale is the result of repossession of property that had been
pledged as collateral by customers. These assets are disposed of within 12 months of acquisition. Neither a gain nor
loss was recognised on reclassifying these assets as held for sale. The majority arose within the geographical segment
North America.
8 Canada Square has been reclassified out of ‘Assets held for sale’, as described in Note 23.
26 Trading liabilities
2008
US$m
2007
US$m
Deposits by banks .............................................................................................................................. 36,537 58,940
Customer accounts ............................................................................................................................. 113,053 102,710
Other debt securities in issue ............................................................................................................. 31,288 44,684
Other liabilities – net short positions ................................................................................................. 66,774 108,246
247,652 314,580
At 31 December 2008, the cumulative amount of change in fair value attributable to changes in credit risk was a gain
of US$563 million (2007: gain of US$34 million).
27 Financial liabilities designated at fair value
HSBC
2008 2007
US$m US$m
Deposits by banks and customer accounts ........................................................................................ 6,618 7,724
Liabilities to customers under investment contracts ......................................................................... 9,283 16,053
Debt securities in issue (Note 28) ...................................................................................................... 34,969 38,587
Subordinated liabilities (Note 32) ..................................................................................................... 20,316 22,831
Preference shares (Note 32) ............................................................................................................... 3,401 4,744
74,587 89,939
The carrying amount at 31 December 2008 of financial liabilities designated at fair value was US$1,851 million less
than the contractual amount at maturity (2007: US$648 million less). At 31 December 2008, the cumulative amount
of the change in fair value attributable to changes in credit risk was a gain of US$7,978 million (2007: gain of
US$1,619 million).
HSBC Holdings
2008 2007
US$m US$m
Subordinated liabilities (Note 32):
– owed to third parties ................................................................................................................... 13,321 14,496
– owed to HSBC undertakings ...................................................................................................... 3,068 4,187
16,389 18,683