Company: HBCYF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001089113-25-000040
Chunk: 318

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-20
Form: 20-F
Chunk 318
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inned by our risk management framework. The risk management framework incorporates a number of measures aligned to our assessment of risks for both internal and regulatory purposes. These risks include credit, market, operational, pensions, structural and transactional foreign exchange risk, and interest rate risk in the banking book. For further details, refer to our Pillar 3 Disclosures at 31 December 2024 .

Treasury risk management Key developments in 2024 – The Group continues to benefit from a healthy capital, liquidity and funding position. – T he Board approved a fourth interim dividend for full year 2023, paid in April 2024. For the full year 2024, the Board approved three interim dividends, which were paid in June, September and December 2024. A fourth interim dividend has also been announced with these results. We announced a total of $11bn of share buy-backs during 2024. – On 1 January 2024, HSBC Continental Europe completed the sale of its retail banking operations in France. – On 28 March 2024, HSBC completed the sale of HSBC Bank Canada to the Royal Bank of Canada. The associated gain on sale of $4.8bn, including the recycling of related reserves, added approximately 0.8 percentage points to our CET1 ratio in 1Q24. The Board approved a special dividend of $0.21 per share, paid in June 2024 alongside the first interim dividend. – On 6 December 2024, HSBC completed the sale of HSBC Argentina to Grupo Financiero Galicia recognising a loss on disposal of $1bn. In addition, $5.2bn of FX and other reserve losses were recycled to the income statement on completion. The sale had an immaterial capital impact. – The Bank continues its delivery efforts against regulatory commitments, including enhancements to regulatory reporting and the implementation of prudential policy changes across the jurisdictions in which we operate. We continue to assess the impact of Basel 3.1, following the PRA announcement to delay the implementation until 1 January 2027, and expect a modest benefit to our CET1 ratio. – We have made significant progress in improving our recovery and resolution capabilities in line with the Group’s preferred resolution strategy and regulatory expectations, including the Bank of England’s (‘BoE’) Resolvability Assessment Framework (‘RAF’). – We further stabilised our banking net interest income through increasing both the size and duration of our structural hedge. For