Company: HBCYF
Filing Date: 2025-02-19
Form Type: 6-K
Source: 0001654954-25-001665
Chunk: 16

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-19
Form: 6-K
Chunk 16
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bn from the sale of our banking business in Canada.

3 This includes $10.6bn from the sale of our retail banking business in France and $1.8bn from the sale of our business in Argentina.

4 Subordinated liabilities changes during the year are attributable to repayments of $(2.0)bn (2023: $(2.1)bn) of securities. Non-cash changes during the year included foreign exchange gains/losses of $1.6bn gain (2023: $0.6bn loss) and fair value gains/losses of $1.0bn gain (2023: $0.8bn loss).

5 At 31 December 2024, $50.4bn (2023: $61.8bn) was not available for use by HSBC due to a range of restrictions, including currency exchange and other restrictions.

6 Includes $1.9bn (2023: $5.6bn) of cash and balances at central banks and $0.1bn (2023: $10.5bn) of loans and advances to banks of one month or less. There is nil balance in 2024 for reverse repurchase agreements with banks of one month or less (2023: $0.2bn) and cash collateral, net settlement accounts and items in course of collection from / transition to other banks (2023: $(0.4)bn).

7 The amount in this line is included in the 'Financial investments' and 'Financial assets designated and otherwise mandatorily measured at fair value through profit or loss' line items in the Consolidated balance sheet on page 14.

1 Basis of preparation and material accounting policies

The basis of preparation and summary of material accounting policies applicable to the consolidated financial statements of HSBC and the separate financial statements of HSBC Holdings can be found in Note 1, or the relevant Note, in the Financial Statements in the Annual Report and Accounts 2024.

(a) Compliance with International Financial Reporting Standards

The consolidated financial statements of HSBC and the separate financial statements of HSBC Holdings comply with UK-adopted international accounting standards and with the requirements of the Companies Act 2006, and have also applied international financial reporting standards adopted pursuant to Regulation (EC) No 1606/2002 as it applies in the European Union. These financial statements are also prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board ('IFRS Accounting Standards'), including interpretations issued by the I