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CONSOLIDATED STATEMENT OF INCOME (LOSS) (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Interest income:    
Loans $ 451 $ 638
Securities 177 243
Trading securities 48 80
Short-term investments 16 87
Other 9 19
Total interest income 701 1,067
Interest expense:    
Deposits 81 321
Short-term borrowings 5 40
Long-term debt 82 198
Other 2 4
Total interest expense 170 563
Net interest income 531 504
Provision for credit losses (227) 726
Net interest income (expense) after provision for credit losses 758 (222)
Other revenues:    
Other revenues 288 283
Trading revenue 41 14
Other securities gains, net 29 28
Gain (loss) on instruments designated at fair value and related derivatives 18 (22)
Other income 9 86
Total other revenues [1] 384 387
Operating expenses:    
Salaries and employee benefits 176 207
Support services from HSBC affiliates 367 382
Occupancy expense, net 30 140
Goodwill impairment 0 784
Other expenses 109 92
Total operating expenses 682 1,605
Income (loss) before income tax 460 (1,440)
Income tax expense (benefit) 121 (157)
Net income (loss) 339 (1,283)
Credit card fees, net [Member]    
Other revenues:    
Other revenues 10 11
Trust and investment management fees [Member]    
Other revenues:    
Other revenues 29 31
Other fees and commissions [Member]    
Other revenues:    
Other revenues 165 151
Servicing and other fees from HSBC affiliates [Member]    
Other revenues:    
Other revenues $ 83 $ 88
[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.