Company: HBCYF
Filing Date: 2025-10-28
Form Type: 6-K
Source: 0001654954-25-012267
Chunk: 23

Company: HSBC HOLDINGS PLC
Filing Date: 2025-10-28
Form: 6-K
Chunk 23
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 $0.6bn.

Financial investments

As part of our interest rate hedging strategy, we hold a portfolio of debt instruments, reported within financial investments, which are classified as hold-to-collect-and-sell. As a result, the change in value of these instruments is recognised through 'debt instruments at fair value through other comprehensive income' in equity. At 30 September 2025, we had recognised a pre-tax cumulative unrealised loss reserve through other comprehensive income of $1.9bn related to these hold-to-collect-and-sell positions, excluding investments held in our insurance business. This compared with an unrealised loss of $2.1bn at 30 June 2025, and reflected a $0.2bn pre-tax gain in 3Q25, inclusive of movements on related fair value hedges.

We also hold a portfolio of financial investments measured at amortised cost, which are classified as hold-to-collect and are held to manage our interest rate exposure. At 30 September 2025, the debt instruments within this portfolio had a cumulative unrecognised loss of $0.9bn, representing a $0.5bn deterioration during 3Q25.

Risk-weighted assets - 30 September 2025 compared with 30 June 2025

RWAs of $878.8bn have decreased by $8.1bn since 30 June 2025, including a fall of $2.1bn from foreign currency translation differences. The remaining $6.0bn decrease was mainly attributable to reductions in stressed value at risk within market risk RWAs and credit risk parameter refinements, predominantly in CIB and Corporate Centre.

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For further details on RWAs, see page 54 .

Business disposals

We reported balances of $46.0bn in assets held for sale and $52.6bn in liabilities held for sale at 30 September 2025. This is inclusive of business disposal groups that met the held for sale criteria, for which we reported balances of $45.6bn in assets and $52.6bn in liabilities as held for sale at 30 September 2025. This included reclassifications made in the third quarter of 2025 of $8.5bn in assets and $8.5bn in liabilities, in respect of our UK life insurance business, our business in Uruguay, our retail banking business in Sri Lanka and our fund administration business in Germany. We recognised an immaterial net loss on disposals during