Company: HBCYF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001089113-25-000040
Chunk: 574

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-20
Form: 20-F
Chunk 574
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 French Life Insurance business as assets held for sale.

3 Includes $ 4.4b n of transfers out and $ 1.5b n of transfers in relating to enhancement of observability assessments on equity structured notes.

Transfers between levels of the fair value hierarchy are deemed to occur at the end of each quarterly reporting period. Transfers are primarily

attributable to changes in price transparency and in the assessment of observability.

| HSBC Holdings plcAnnual Report on Form 20-F | 413 |

Effect of changes in significant unobservable assumptions to reasonably

possible alternatives

| Sensitivity of fair values to reasonably possible alternative assumptions                                         |                             |                      |                   |                      |                             |                      |                   |                      |
|                                                                                                                   |                        2024 |                      |                   |                      |                        2023 |                      |                   |                      |
|                                                                                                                   | Reflected in profit or loss |                      |  Reflected in OCI |                      | Reflected in profit or loss |                      |  Reflected in OCI |                      |
|                                                                                                                   |           Favourablechanges | Un-favourablechanges | Favourablechanges | Un-favourablechanges |           Favourablechanges | Un-favourablechanges | Favourablechanges | Un-favourablechanges |
|                                                                                                                   |                          $m |                   $m |                $m |                   $m |                          $m |                   $m |                $m |                   $m |
| Derivatives, trading assets and tradingliabilities1                                                               |                         481 |                 -313 |                 — |                    — |                         492 |                 -531 |                 — |                    — |
| Financial assets and liabilities designatedand otherwise mandatorily measured atfair value through profit or loss |                       1,434 |               -1,141 |                 — |                    — |                       1,092 |               -1,100 |                 — |                    — |
| Financial investments                                                                                             |                          21 |                  -21 |                47 |                  -50 |                          13 |                  -12 |                61 |                  -66 |
| At 31 Dec                                                                                                         |                       1,936 |               -1,475 |                47 |                  -50 |                       1,597 |               -1,643 |                61 |                  -66 |

1 ‘Derivatives, trading assets and trading liabilities’ are presented as one category to reflect the manner in which these instruments are risk-managed. The sensitivity