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CONSOLIDATED STATEMENT OF INCOME (LOSS) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Interest income:        
Loans $ 511 $ 733 $ 1,729 $ 2,192
Securities 202 296 707 898
Trading securities 64 85 192 215
Short-term investments 16 136 126 485
Other 11 23 35 61
Total interest income 804 1,273 2,789 3,851
Interest expense:        
Deposits 135 408 656 1,121
Short-term borrowings 7 79 62 209
Long-term debt 111 277 471 895
Other 3 6 10 21
Total interest expense 256 770 1,199 2,246
Net interest income 548 503 1,590 1,605
Provision for credit losses (105)   840  
Provision for credit losses (75) 94 774 198
Net interest income after provision for credit losses 653 409 750 1,407
Other revenues:        
Other revenues 269 298 814 873
Trading revenue 49 178 255 434
Other securities gains, net 52 46 111 76
Gain (loss) on instruments designated at fair value and related derivatives 15 (19) 15 (45)
Other income (loss) (27) (14) 18 (17)
Total other revenues [1] 356 486 1,207 1,312
Operating expenses:        
Salaries and employee benefits 193 195 590 626
Support services from HSBC affiliates 391 394 1,162 1,185
Occupancy expense, net 44 41 222 134
Goodwill impairment 0 365 784 365
Other expenses 157 111 359 320
Total operating expenses 785 1,106 3,117 2,630
Income (loss) before income tax 224 (211) (1,160) 89
Income tax expense (benefit) 36 39 (72) 109
Net income (loss) 188 (250) (1,088) (20)
Credit card fees, net [Member]        
Other revenues:        
Other revenues 10 18 30 48
Trust and investment management fees [Member]        
Other revenues:        
Other revenues 34 34 98 95
Other fees and commissions [Member]        
Other revenues:        
Other revenues 144 155 425 464
Servicing and other fees from HSBC affiliates [Member]        
Other revenues:        
Other revenues $ 79 $ 88 $ 255 $ 257
[1] See Note 15, "Business Segments," for a reconciliation of total other revenues on a U.S. GAAP basis to other operating income for each business segment under the Group Reporting Basis.