Company: HBCYF
Filing Date: 2025-04-29
Form Type: 6-K
Source: 0001654954-25-004763
Chunk: 50

Company: HSBC HOLDINGS PLC
Filing Date: 2025-04-29
Form: 6-K
Chunk 50
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Q25 |

1 Cumulative change to the lowest level of the series during the 20-quarter projection.

2 Highest projected unemployment or policy rate in the scenario. For mainland China, the rate shown is the Loan Prime Rate.

3 Highest projected year-on-year percentage change in inflation in the scenario.

The following table describes the probabilities assigned in each scenario.

| Scenario weightings, % |                  |    |    |           |                |        |     |        |
|                        | Standard weights | UK | US | Hong Kong | Mainland China | France | UAE | Mexico |
| 1Q25                   |                  |    |    |           |                |        |     |        |
| Upside                 |               10 |  5 |  5 |         5 |              5 |      5 |   5 |      5 |
| Central                |               75 | 65 | 65 |        65 |             65 |     65 |  65 |     65 |
| Downside               |               10 | 25 | 25 |        25 |             25 |     25 |  25 |     25 |
| Downside 2             |                5 |  5 |  5 |         5 |              5 |      5 |   5 |      5 |
| 4Q24                   |                  |    |    |           |                |        |     |        |
| Upside                 |               10 | 10 | 10 |        10 |             10 |     10 |  10 |     10 |
| Central                |               75 | 75 | 75 |        75 |             75 |     75 |  75 |     75 |
| Downside               |               10 | 10 | 10 |        10 |             10 |     10 |  10 |     10 |
| Downside 2             |                5 |  5 |  5 |         5 |              5 |      5 |   5 |      5 |

Scenario weightings are calibrated to probabilities that are determined with reference to consensus forecast probability distributions. Management may then choose to vary weights if they assess that the calibration lags more recent events, or does not reflect their view of the distribution of economic and geopolitical risk. Management's view of the scenarios and the probability distribution