HSBC 2012 Annual Report Download - page 198

HSBC HOLDINGS PLC Report of the Directors: Operating and Financial Review (continued) Risk > Eurozone exposures
196
Exposures to Italy
(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
Loans and advances .................................................... – 0.1 1.2 0.1 1.4 – 0.5 1.4 0.1 2.0
– gross ..................................................................... – 0.1 1.2 0.1 1.4 – 0.5 1.4 0.1 2.0
Financial investments held to maturity ...................... 0.1 0.2 – – 0.3 0.1 0.2 – – 0.3
– fair value .............................................................. 0.1 0.2 – – 0.3 0.1 0.2 – – 0.3
Financial investments available for sale37 .................. 0.8 0.3 0.3 – 1.4 0.8 0.3 0.3 – 1.4
– amortised cost ...................................................... 0.8 0.3 0.3 – 1.4 0.8 0.3 0.2 – 1.3
Financial assets designated at fair value .................... – – 0.1 – 0.1 – – – – –
Trading assets ............................................................. 5.2 0.7 0.1 – 6.0 8.3 0.6 0.2 – 9.1
Derivative assets ......................................................... 0.5 1.7 1.2 – 3.4 0.7 1.9 1.0 – 3.6
Gross balance sheet exposure before risk
mitigation .............................................................. 6.6 3.0 2.9 0.1 12.6 9.9 3.5 2.9 0.1 16.4
Risk mitigation ........................................................... (3.9) (1.6) (0.5) – (6.0) (7.6) (1.5) (0.3) – (9.4)
– short trading positions ......................................... (3.9) – – – (3.9) (6.9) – – – (6.9)
– collateral and derivative liabilities ....................... – (1.6) (0.5) – (2.1) (0.7) (1.5) (0.3) – (2.5)
Net on-balance sheet exposure ................................... 2.7 1.4 2.4 0.1 6.6 2.3 2.0 2.6 0.1 7.0
Off-balance sheet exposures ....................................... – 0.2 2.8 – 3.0 – 0.1 1.3 – 1.4
– commitments ....................................................... – – 1.8 – 1.8 – – 0.9 – 0.9
– guarantees and others .......................................... – 0.2 1.0 – 1.2 – 0.1 0.4 – 0.5
Total net exposure .................................................... 2.7 1.6 5.2 0.1 9.6 2.3 2.1 3.9 0.1 8.4
Of which:
– net trading assets representing cash
collateral posted .............................................. – 0.6 – – 0.6 – 0.5 – – 0.5
– on-balance sheet exposures held to meet
DPF insurance liabilities ................................. 0.3 0.4 0.2 – 0.9 0.3 0.4 0.2 – 0.9
Total credit default swaps
– CDS bought positions .......................................... 0.6 0.1 0.1 – 0.8 0.6 0.5 0.3 – 1.4
– CDS sold positions .............................................. (0.5) (0.1) – – (0.6) (0.6) (0.5) (0.2) – (1.3)
– CDS bought notionals ......................................... 9.9 6.1 3.6 – 19.6 3.9 3.5 3.7 – 11.1
– CDS sold notionals .............................................. 10.3 6.1 3.6 – 20.0 3.8 3.5 3.5 – 10.8
For footnote, see page 249.
For commentary, see page 199.