Company: HBCYF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001089113-25-000040
Chunk: 335

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-20
Form: 20-F
Chunk 335
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 | 261,284 | 278,289 |
| Trading assets                         |     163 |     238 |
| Loans and advances:                    |         |         |
| –  to banks                            |  66,518 |  78,667 |
| –  to customers                        |     743 |   1,083 |
| Reverse repurchase agreements          |  47,812 |  45,419 |
| Financial investments                  | 465,123 | 396,259 |
| Other                                  |  12,232 |  34,651 |
| At 31 Dec                              | 853,875 | 834,606 |

| HSBC Holdings plcAnnual Report on Form 20-F | 245 |

Defined benefit pension plans Market risk arises within our defined benefit pension plans to the extent that the obligations of the plans are not fully matched by assets with determinable cash flows. For details of our defined benefit plans, including asset allocation, see Note 5 on the financial statements, and for pension risk management, see page 233 . Additional market risk measures applicable only to the parent company HSBC Holdings monitors and manages foreign exchange risk and interest rate risk. In order to manage interest rate risk, HSBC Holdings uses the projected sensitivity of its NII to future changes in yield curves. Foreign exchange risk HSBC Holdings’ foreign exchange exposures derive almost entirely from the execution of structural foreign exchange hedges on behalf of the Group. At 31 December 2024 , HSBC Holdings had forward foreign exchange contracts of $33.9bn (2023: $33.8bn) to manage the Group’s structural foreign exchange exposures. For further details of our structural foreign exchange exposures, see page 241 . Sensitivity of banking net interest income HSBC Holdings monitors banking NII sensitivity in the first, second and third years . Banking NII sensitivity includes the impact of AT1 instruments as well as vanilla foreign exchange swaps to optimise cash management. For 2024, we have changed the HSBC Holdings disclosure from NII sensitivity to banking NII sensitivity to reflect our internal management of interest rate sensitivity, aligned to the Group approach (see page 242 ). Comparative data for the financial year ended 31 December 2023 have been re-presented accordingly. These sensitivities assume that any issuance where HSBC Holdings has an option to redeem at a future call date is called at that date. The tables below set out the effect on HSBC Holdings’ future banking NII of an immediate