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Pension and Other Postretirement Benefits (Tables)
12 Months Ended
Dec. 31, 2019
HSBC North America Pension Plan [Member]  
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]  
Components of Net Periodic Benefit Cost
Year Ended December 31,
2019
 
2018
 
2017
 
(in millions)
Interest cost on projected benefit obligation
$
56

 
$
60

 
$
71

Expected return on plan assets
(78
)
 
(78
)
 
(88
)
Amortization of net actuarial loss
21

 
31

 
33

Administrative costs
4

 
6

 
4

Loss on partial settlement of Plan pension obligation

 

 
35

Pension expense
$
3

 
$
19

 
$
55

Schedule of Assumptions Used
The assumptions used in determining pension expense of the HSBC North America Pension Plan are as follows:
 
2019
 
2018
 
2017
Discount rate
3.15
%
 
4.25
%
 
3.60
%
Expected long-term rate of return on Plan assets
5.00

 
5.50

 
5.50

Postretirement Plans Other Than Pensions [Member]  
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]  
Components of Net Periodic Benefit Cost
The following table reflects the components of the net periodic postretirement benefit cost:
Year Ended December 31,
2019

2018

2017
 
(in millions)
Interest cost on accumulated benefit obligation
$
2

 
$
2

 
2

Amortization of net actuarial gain
(2
)
 
(2
)
 
(1
)
Net periodic postretirement benefit cost
$

 
$

 
$
1

Schedule of Assumptions Used
The assumptions used in determining the benefit obligation of our postretirement benefit plans at December 31 are as follows:
 
2019
 
2018
 
2017
Discount rate
3.00
%
 
4.15
%
 
3.45
%
Salary increase assumption
3.00

 
3.00

 
3.00

The assumptions used in determining the net periodic postretirement benefit cost for our postretirement benefit plans are as follows:
 
2019
 
2018
 
2017
Discount rate
4.15
%
 
3.45
%
 
3.95
%
Salary increase assumption
3.00

 
3.00

 
3.00

Schedule of Accumulated and Projected Benefit Obligations
A reconciliation of the beginning and ending balances of the accumulated postretirement benefit obligation is as follows:
 
2019
 
2018
 
(in millions)
Accumulated benefit obligation at beginning of year
$
42

 
$
53

Interest cost
2

 
2

Actuarial losses (gains)
5

 
(8
)
Benefits paid, net
(4
)
 
(5
)
Accumulated benefit obligation at end of year
$
45

 
$
42

Schedule of Expected Benefit Payments
Estimated future benefit payments for our postretirement benefit plans are summarized in the following table:
  
(in millions)
2020
$
4

2021
4

2022
4

2023
4

2024
3

2025-2029
14