Company: HBCYF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001089113-25-000040
Chunk: 611

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-20
Form: 20-F
Chunk 611
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7,723 |
| –  other contingent liabilities                                   |     298 |     636 |              — |     — |
| At 31 Dec                                                         | 110,019 | 111,922 |          7,327 | 7,723 |
| Commitments:2                                                     |         |         |                |       |
| –  documentary credits and short-term trade-related transactions  |   7,096 |   7,818 |              — |     — |
| –  forward asset purchases and forward deposits placed            |  61,017 |  78,535 |              — |     — |
| –  standby facilities, credit lines and other commitments to lend | 793,465 | 810,797 |              — |     — |
| At 31 Dec                                                         | 861,578 | 897,150 |              — |     — |

1 Guarantees by HSBC Holdings are in favour of other Group entities. These include contracts that provide protection against credit risk on a specified exposure but do not meet the definition of financial guarantees. 2 Includes $ 619,367m of commitments at 31 December 2024 (31 December 2023: $ 661,015m ), to which the impairment requirements in IFRS 9 are applied where HSBC has become party to an irrevocable commitment . The preceding table discloses the nominal principal amounts of off-balance sheet liabilities and commitments for the Group, which represent the maximum amounts at risk should the contracts be fully drawn upon and the clients default. As a significant portion of guarantees and commitments are expected to expire without being drawn upon, the total of the nominal principal amounts is not indicative of future liquidity requirements. The expected credit loss provision relating to guarantees and commitments under IFRS 9 is disclosed in Note 28 . The majority of the guarantees have a term of less than one year, while guarantees with terms of more than one year are subject to HSBC’s annual credit review process. Contingent liabilities arising from legal proceedings, regulatory and other matters against Group companies are excluded from this note but are disclosed in Notes 28 and 35 . Financial Services Compensation Scheme The Financial Services Compensation Scheme (‘FSCS’) provides compensation, up to certain limits, to eligible customers of financial services firms that are unable, or likely to be unable, to pay claims against them. The FSCS may impose a further levy on the Group to the extent the industry levies imposed to date are not