Pensions and Other Postretirement Benefits

3 Months Ended

Mar. 31, 2014

Compensation and Retirement Disclosure [Abstract]

Pensions and Other Postretirement Benefits

Pension and Other Postretirement Benefits

Defined Benefit Pension Plan  The components of pension expense for the defined benefit pension plan recorded in our consolidated statement of income and shown in the table below reflect the portion of pension expense of the combined HSBC North America Pension Plan (either the “HSBC North America Pension Plan” or the “Plan”) which has been allocated to us.

Three Months Ended March 31,	2014			2013
	(in millions)
Service cost – benefits earned during the period	$	1		$	1
Interest cost on projected benefit obligation	18			17
Expected return on assets	(20		)	(20		)
Recognized losses	9			13
Pension expense	$	8		$	11

Pension expense was lower during the three months ended March 31, 2014 mainly due to lower recognized losses. During the first quarter of 2014, an additional contribution of $74 million was made to the Plan.

Postretirement Plans Other Than Pensions  The components of net periodic benefit cost for our postretirement plans other than pension are as follows:

Three Months Ended March 31,	2014		2013
	(in millions)
Interest cost	$	1	$	1
Net periodic postretirement benefit cost	$	1	$	1