Strategic Initiatives (Tables)

12 Months Ended

Dec. 31, 2021

Restructuring and Related Activities [Abstract]

Total Pre-Tax Charges We Expect to Incur by Segment

The following table presents a summary of the total pre-tax charges we expect to incur by reportable segment:

	Expected Charges in Connection with Restructuring Plan
	Minimum		Maximum
	(in millions)
Wealth and Personal Banking	$	215	$	235
Commercial Banking	8		10
Markets and Securities Services	82		88
Global Banking and Markets Other	10		12
Corporate Center(1)	465		515
Total	$	780	$	860

(1)Includes restructuring charges primarily related to lease impairment and other related costs, support service project costs and severance costs associated with certain centralized activities and functions.

Schedule of Changes in Restructuring Liability

The following table summarizes the changes in the liability associated with our Restructuring Plan during 2021 and 2020:

	Severance and Other Employee Costs(1)		Lease Termination and Associated Costs(2)		Other(3)		Total
	(in millions)
Year Ended December 31, 2021
Restructuring liability at beginning of period	$	10	$	23	$	—	$	33
Restructuring costs accrued during the period	12		38		15		65
Restructuring costs paid during the period	(12)		(15)		(15)		(42)
Restructuring liability at end of period	$	10	$	46	$	—	$	56
Year Ended December 31, 2020
Restructuring liability at beginning of period	$	—	$	—	$	—	$	—
Restructuring costs accrued during the period	28		29		—		57
Restructuring costs paid during the period	(18)		(6)		—		(24)
Restructuring liability at end of period	$	10	$	23	$	—	$	33

(1)Severance and other employee costs are included in salaries and employee benefits in the consolidated statement of income (loss). The majority of these costs were reported in the Wealth and Personal Banking business segment. Not included in these costs are allocated severance costs from HSBC Technology & Services ("HTSU") discussed further below.

(2)Primarily includes real estate taxes, service charges and decommissioning costs. Lease termination and associated costs are included in occupancy expense, net in the consolidated statement of income (loss) and were reported in the Wealth and Personal Banking and the Corporate Center business segments.

(3)Primarily includes professional fees and other staff costs, which are included in other expenses in the consolidated statement of income (loss).