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CONSOLIDATED STATEMENT OF INCOME (LOSS) (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Interest income:        
Loans $ 416 $ 511 $ 1,308 $ 1,729
Securities 154 202 491 707
Trading securities 60 64 162 192
Short-term investments 24 16 57 126
Other 4 11 17 35
Total interest income 658 804 2,035 2,789
Interest expense:        
Deposits 60 135 210 656
Short-term borrowings 4 7 13 62
Long-term debt 70 111 230 471
Other 4 3 8 10
Total interest expense 138 256 461 1,199
Net interest income 520 548 1,574 1,590
Provision for credit losses (81) (105) (537) 840
Net interest income after provision for credit losses 601 653 2,111 750
Other revenues:        
Other revenues 267 269 837 814
Trading revenue (expense) (42) 49 1 255
Other securities gains, net 4 52 51 111
Gain on instruments designated at fair value and related derivatives 8 15 33 15
Other income (loss) 7 (27) 13 18
Total other revenues [1] 242 356 930 1,207
Operating expenses:        
Salaries and employee benefits 151 193 509 590
Support services from HSBC affiliates 389 391 1,148 1,162
Occupancy expense, net 27 44 175 222
Goodwill impairment 0 0 0 784
Other expenses 99 157 318 359
Total operating expenses 666 785 2,150 3,117
Income (loss) before income tax 177 224 891 (1,160)
Income tax expense (benefit) 40 36 222 (72)
Net income (loss) 137 188 669 (1,088)
Credit card fees, net [Member]        
Other revenues:        
Other revenues 0 10 23 30
Trust and investment management fees [Member]        
Other revenues:        
Other revenues 26 34 81 98
Other fees and commissions [Member]        
Other revenues:        
Other revenues 160 144 496 425
Servicing and other fees from HSBC affiliates [Member]        
Other revenues:        
Other revenues $ 79 $ 79 $ 232 $ 255
[1] See Note 16, "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.