Company: HBCYF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001089113-25-000040
Chunk: 311

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-20
Form: 20-F
Chunk 311
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 although we may manage individual exposures in certain circumstances. We place strict policy restrictions on collateral types and as a consequence the types of collateral received and pledged are, by value, highly liquid and of a strong quality, being predominantly cash. Where a collateral type is required to be approved outside the collateral policy, approval is required from a committee of senior representatives from Markets, Legal and Risk. See Note 31 on the financial statements for details regarding legally enforceable right of offset in the event of counterparty default and collateral received in respect of derivatives. Personal lending This section presents further disclosures related to personal lending. It provides details of the main legal entities, countries and products that are driving the change observed in personal gross loans and advances to customers, with the impact of foreign exchange separately identified. Additionally, Hong Kong and UK mortgage book loan to value (‘LTV’) data is provided. This section also provides reconciliations of the opening 1 January 2024 to 31 December 2024 closing gross carrying/nominal amounts and associated allowance for ECL by product. Further product granularity is also provided by stage, with data for our main legal entities presented for gross loans and advances to customers, loan and other credit-related commitments and financial guarantees. At 31 December 2024, total personal lending for gross loans and advances to customers of $447.2bn decreased by $0.3bn on a reported basis, compared with 31 December 2023. This decrease included adverse foreign exchange movements of $9.9bn. On a constant currency basis, the increase of $9.6bn was driven by growth in mortgages (up $7.5bn) and other personal lending (up $2.1bn). On a constant currency basis, mortgage lending gross balances increased by $7.5bn to $361.3bn at 31 December 2024. Mortgages grew in our main legal entities in the UK (up $4.5bn), in the US (up $2.7bn), Australia (up $1.3bn) and Mexico (up $0.3bn). These increases were partly offset by a $1.2bn decrease in China, mainly due to loan repayments.

| HSBC Holdings plcAnnual Report on Form 20-F | 215 |

On a constant currency basis, other personal lending balances at 31 December 2024 increased by $2.1bn compared with 31 December 2023. This included an increase in our entities in Europe (up