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Loans (Tables)
 12 Months Ended
Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]  
Components of Loans
Loans consisted of the following:
At December 31,20212020
 (in millions)
Commercial loans:
Real estate, including construction$8,234 $10,464 
Business and corporate banking(1)
13,958 13,479 
Global banking(2)
11,109 13,519 
Other commercial:
Affiliates(3)
2,793 1,100 
Other3,702 3,037 
Total other commercial6,495 4,137 
Total commercial39,796 41,599 
Consumer loans:
Residential mortgages15,469 18,377 
Home equity mortgages325 727 
Credit cards204 1,066 
Other consumer(4)
70 319 
Total consumer(5)
16,068 20,489 
Total loans$55,864 $62,088 
(1)Includes loans funded under the PPP which totaled $262 million and $1,043 million at December 31, 2021 and 2020, respectively. PPP loans are fully guaranteed by the Small Business Administration, if certain conditions are met.
(2)Represents large multinational firms including globally focused U.S. corporate and financial institutions, U.S. dollar lending to multinational banking clients managed by HSBC on a global basis and complex large business clients supported by Global Banking and Markets relationship managers.
(3)See Note 24, "Related Party Transactions," for additional information regarding loans to HSBC affiliates.
(4)Included certain student loans that we have elected to designate under the fair value option and are therefore carried at fair value, which totaled $32 million at December 31, 2020. These student loans were transferred to held for sale during the fourth quarter of 2021. See Note 17, "Fair Value Option," for further details.
(5)The decrease in consumer loans at December 31, 2021 includes the impact of transfers of certain loans to held for sale during 2021. See Note 9, "Loans Held for Sale," for additional information.
Summary of Past Due Status of Loans The following table summarizes the past due status of our loans at December 31, 2021 and 2020. The aging of past due amounts is determined based on the contractual delinquency status of payments under the loan. An account is generally considered to be contractually delinquent when payments have not been made in accordance with the loan terms. Delinquency status is affected by customer account management policies and practices such as re-age, which results in the re-setting of the contractual delinquency status to current. For COVID-19 related loan modifications in the form of a payment deferral, the borrower’s past due status was not affected during the deferral period.
 Past DueTotal Past Due 30 Days or More  
30 - 89 Days90+ Days
Current(1)
Total Loans
 (in millions)
At December 31, 2021
Commercial loans:
Real estate, including construction$38 $— $38 $8,196 $8,234 
Business and corporate banking
112 17 129 13,829 13,958 
Global banking— 27 27 11,082 11,109 
Other commercial47 — 47 6,448 6,495 
Total commercial197 44 241 39,555 39,796 
Consumer loans:
Residential mortgages
138 63 201 15,268 15,469 
Home equity mortgages2 1 3 322 325 
Credit cards5 2 7 197 204 
Other consumer1 — 1 69 70 
Total consumer(2)
146 66 212 15,856 16,068 
Total loans$343 $110 $453 $55,411 $55,864 
At December 31, 2020
Commercial loans:
Real estate, including construction$78 $— $78 $10,386 $10,464 
Business and corporate banking
126 19 145 13,334 13,479 
Global banking— 60 60 13,459 13,519 
Other commercial24 — 24 4,113 4,137 
Total commercial228 79 307 41,292 41,599 
Consumer loans:
Residential mortgages
435 311 746 17,631 18,377 
Home equity mortgages11 22 33 694 727 
Credit cards23 19 42 1,024 1,066 
Other consumer7 6 13 306 319 
Total consumer476 358 834 19,655 20,489 
Total loans$704 $437 $1,141 $60,947 $62,088 
(1)Loans less than 30 days past due are presented as current.
(2)The decrease in consumer past due loans at December 31, 2021 includes the impact of transfers of certain loans to held for sale during 2021, which collectively included $419 million of consumer loans which were past due 30 days or more at the time of transfer. See Note 9, "Loans Held for Sale," for additional information.
Contractual Maturities of Loans Outstanding Contractual maturities of loans outstanding at December 31, 2021 were as follows:
  
20222023 - 20262027 - 2036ThereafterTotal
 (in millions)
Commercial loans:
Real estate, including construction$4,843 $3,183 $202 $6 $8,234 
Business and corporate banking8,211 5,395 342 10 13,958 
Global banking6,535 4,294 272 8 11,109 
Other commercial3,821 2,511 159 4 6,495 
Consumer loans:
Residential mortgages223 57 667 14,522 15,469 
Home equity mortgages(1)
118 157 33 17 325 
Credit cards(2)
— 204 — — 204 
Other consumer65 3 2 — 70 
Total$23,816 $15,804 $1,677 $14,567 $55,864 
(1)Home equity mortgage maturities reflect estimates based on historical payment patterns.
(2)As credit card receivables do not have stated maturities, the table reflects an average estimate based on historical payment patterns.
Contractual Maturities of Loans Outstanding by Repricing Characteristic The following table summarizes loans outstanding at December 31, 2021 due after one year by repricing characteristic:
December 31, 2021Receivables at Predetermined Interest RatesReceivables at Floating or Adjustable RatesTotal Loans Due After One Year
 (in millions)
Commercial loans:
Real estate, including construction$240 $3,151 $3,391 
Business and corporate banking407 5,340 5,747 
Global banking324 4,250 4,574 
Other commercial189 2,485 2,674 
Consumer loans:
Residential mortgages5,181 10,065 15,246 
Home equity mortgages23 184 207 
Credit cards26 178 204 
Other consumer— 5 5 
Total$6,390 $25,658 $32,048 
Summary of Nonaccrual Loans and Accruing Receivables 90 Days or More Delinquent Nonperforming loans, including nonaccrual loans and accruing loans contractually 90 days or more past due, consisted of the following:
Nonaccrual LoansAccruing Loans Contractually Past Due 90 Days or MoreNonaccrual Loans With No Allowance For Credit Losses
 (in millions)
At December 31, 2021
Commercial:
Real estate, including construction$140 $— $20 
Business and corporate banking134 1 69 
Global banking105 — 63 
Total commercial379 1 152 
Consumer:
Residential mortgages(1)(2)(3)
229 — 55 
Home equity mortgages(1)(2)
9 — 4 
Credit cards— 2 — 
Other consumer— — — 
Total consumer(4)
238 2 59 
Total nonperforming loans$617 $3 $211 
At December 31, 2020
Commercial:
Real estate, including construction$44 $— $31 
Business and corporate banking163 — 1 
Global banking337 — 93 
Total commercial544 — 125 
Consumer:
Residential mortgages(1)(2)(3)
1,079 — 241 
Home equity mortgages(1)(2)
63 — 34 
Credit cards— 19 — 
Other consumer— 2 — 
Total consumer1,142 21 275 
Total nonperforming loans$1,686 $21 $400 
(1)At December 31, 2021 and 2020, nonaccrual consumer mortgage loans include $86 million and $375 million, respectively, of loans that are carried at the lower of amortized cost or fair value of the collateral less cost to sell.
(2)Nonaccrual consumer mortgage loans include all loans which are 90 or more days contractually delinquent as well as loans discharged under Chapter 7 bankruptcy and not re-affirmed and second lien loans where the first lien loan that we own or service is 90 or more days contractually delinquent. At December 31, 2021 and 2020, nonaccrual consumer mortgage loans also included $12 million and $590 million, respectively, of loans under COVID-19 related payment deferral programs where the borrowers utilized a payment deferral of more than six months and, as a result, have been placed on nonaccrual status.
(3)Nonaccrual consumer mortgage loans for all periods does not include guaranteed loans purchased from the Government National Mortgage Association. Repayment of these loans is predominantly insured by the Federal Housing Administration and as such, these loans have different risk characteristics from the rest of our consumer loan portfolio.
(4)The decrease in consumer nonperforming loans at December 31, 2021 includes the impact of transfers of certain loans to held for sale during 2021, which collectively included $698 million of nonperforming consumer loans at the time of transfer, of which $21 million were accruing loans contractually 90 days or more past due. See Note 9, "Loans Held for Sale," for additional information.
Summary of TDR Loans
The following table summarizes our TDR Loans at December 31, 2021 and 2020:
At December 31,20212020
 (in millions)
Commercial loans:
Business and corporate banking$38 $94 
Global banking25 74 
Total commercial(1)(2)
63 168 
Consumer loans:
Residential mortgages(3)(4)
125 582 
Home equity mortgages(3)(4)
9 31 
Credit cards3 5 
Total consumer(5)
137 618 
Total TDR Loans(6)
$200 $786 
(1)Additional commitments to lend to commercial borrowers whose loans have been modified in TDR Loans totaled $13 million and $107 million at December 31, 2021 and 2020, respectively.
(2)Not included in the table at December 31, 2021 and 2020 are $42 million and $924 million, respectively, of commercial loans that were exempted from TDR assessment due to our CARES Act election.
(3)At December 31, 2021 and 2020, the carrying value of consumer mortgage TDR Loans includes $104 million and $487 million, respectively, of loans that are recorded at the lower of amortized cost or fair value of the collateral less cost to sell.
(4)Not included in the table at December 31, 2021 and 2020 are $16 million and $736 million, respectively, of consumer mortgage loans under COVID-19 related payment deferral programs where the borrowers were provided with extended payment deferral relief of more than six months that were exempted from TDR assessment due to our CARES Act election.
(5)The decrease in consumer TDR Loans at December 31, 2021 includes the impact of transfers of certain loans to held for sale during 2021, which collectively included $416 million of consumer TDR Loans at the time of transfer. See Note 9, "Loans Held for Sale," for additional information.
(6)At December 31, 2021 and 2020, the carrying value of TDR Loans includes $115 million and $463 million, respectively, of loans which are classified as nonaccrual.
Summary of Receivables which were Modified and as a Result became Classified as TDR Loans
The following table presents information about loans which were modified during 2021, 2020 and 2019 and as a result of this action became classified as TDR Loans:
Year Ended December 31,202120202019
(in millions)
Commercial loans:
Business and corporate banking$11 $95 $— 
Global banking15 44 — 
Total commercial26 139 — 
Consumer loans:
Residential mortgages36 78 8 
Home equity mortgages1 3 1 
Credit cards2 4 3 
Total consumer39 85 12 
Total$65 $224 $12 
Loans Classified as TDR Loans in Previous 12 Months that became 60 Days or Greater Delinquent
The following table presents consumer loans which were classified as TDR Loans during the previous 12 months which subsequently became 60 days or greater contractually delinquent during the years ended December 31, 2021, 2020 and 2019:
Year Ended December 31,202120202019
(in millions)
Consumer loans:
Residential mortgages$5 $5 $3 
Total consumer$5 $5 $3 
Commercial loans:  
Accounts, Notes, Loans and Financing Receivable [Line Items]  
Summary of Criticized Commercial Loans
The following table summarizes our criticized commercial loans, including a disaggregation of the loans by year of origination as of December 31, 2021 and 2020:
20212020201920182017PriorRevolving
Loans		Revolving Loans Converted to Term LoansTotal at Dec. 31, 2021
 (in millions)
Real estate, including construction:
Special mention$— $— $350 $487 $90 $259 $— $— $1,186 
Substandard— 1 272 263 308 461 20 11 1,336 
Doubtful— — 80 2 — 53 — — 135 
Total real estate, including construction— 1 702 752 398 773 20 11 2,657 
Business and corporate banking:
Special mention— 1 91 60 26 274 173 — 625 
Substandard— 18 36 9 3 226 424 8 724 
Doubtful— — — 20 — 28 16 — 64 
Total business and corporate banking— 19 127 89 29 528 613 8 1,413 
Global banking:
Special mention8 — — — — 8 47 — 63 
Substandard— — — — — 54 232 — 286 
Doubtful— — — — — — 31 — 31 
Total global banking8 — — — — 62 310 — 380 
Other commercial:
Special mention— — — — — 7 — — 7 
Substandard— — — — — — 40 — 40 
Doubtful— — — — — — — — — 
Total other commercial— — — — — 7 40 — 47 
Total commercial:
Special mention8 1 441 547 116 548 220 — 1,881 
Substandard— 19 308 272 311 741 716 19 2,386 
Doubtful— — 80 22 — 81 47 — 230 
Total commercial$8 $20 $829 $841 $427 $1,370 $983 $19 $4,497 
    
20202019201820172016PriorRevolving
Loans		Revolving Loans Converted to Term LoansTotal at Dec. 31, 2020
 (in millions)
Real estate, including construction:
Special mention$— $306 $115 $171 $85 $437 $— $— $1,114 
Substandard— 186 — 169 — 86 — — 441 
Doubtful— — — — — — — — — 
Total real estate, including construction— 492 115 340 85 523 — — 1,555 
Business and corporate banking:
Special mention17 71 43 32 10 390 600 48 1,211 
Substandard1 44 25 23 31 181 435 1 741 
Doubtful— — — — — 41 57 — 98 
Total business and corporate banking18 115 68 55 41 612 1,092 49 2,050 
Global banking:
Special mention— — — — — 142 98 — 240 
Substandard— — 48 — — 131 477 — 656 
Doubtful— — — — — 82 160 — 242 
Total global banking— — 48 — — 355 735 — 1,138 
Other commercial:
Special mention— — — — — 44 40 — 84 
Substandard— — — — — 70 — — 70 
Doubtful— — — — — — — — — 
Total other commercial— — — — — 114 40 — 154 
Total commercial:
Special mention17 377 158 203 95 1,013 738 48 2,649 
Substandard1 230 73 192 31 468 912 1 1,908 
Doubtful— — — — — 123 217 — 340 
Total commercial$18 $607 $231 $395 $126 $1,604 $1,867 $49 $4,897 
Summary of Nonperforming Status The following table summarizes the nonperforming status of our commercial loan portfolio, including a disaggregation of the loans by year of origination as of December 31, 2021 and 2020:
20212020201920182017PriorRevolving
Loans		Revolving Loans Converted to Term LoansTotal at Dec. 31, 2021
 (in millions)
Real estate, including construction:
Performing loans$969 $651 $2,436 $2,076 $593 $1,307 $46 $16 $8,094 
Nonaccrual loans— 2 80 40 — 18 — — 140 
Total real estate, including construction969 653 2,516 2,116 593 1,325 46 16 8,234 
Business and corporate banking:
Performing loans1,630 709 594 190 187 4,756 5,540 217 13,823 
Nonaccrual loans— 4 14 30 51 1 34 — 134 
Accruing loans contractually past due 90 days or more— — — — — — 1 — 1 
Total business and corporate banking1,630 713 608 220 238 4,757 5,575 217 13,958 
Global banking:
Performing loans547 540 203 80 243 4,580 4,811 — 11,004 
Nonaccrual loans— — — — — 40 65 — 105 
Total global banking547 540 203 80 243 4,620 4,876 — 11,109 
Other commercial:
Performing loans589 552 451 174 110 1,045 3,574 — 6,495 
Total other commercial589 552 451 174 110 1,045 3,574 — 6,495 
Total commercial:
Performing loans3,735 2,452 3,684 2,520 1,133 11,688 13,971 233 39,416 
Nonaccrual loans— 6 94 70 51 59 99 — 379 
Accruing loans contractually past due 90 days or more— — — — — — 1 — 1 
Total commercial$3,735 $2,458 $3,778 $2,590 $1,184 $11,747 $14,071 $233 $39,796 
20202019201820172016PriorRevolving
Loans		Revolving Loans Converted to Term LoansTotal at Dec. 31, 2020
 (in millions)
Real estate, including construction:
Performing loans$545 $3,775 $2,775 $1,368 $264 $1,594 $79 $20 $10,420 
Nonaccrual loans— — 24 — — 20 — — 44 
Total real estate, including construction545 3,775 2,799 1,368 264 1,614 79 20 10,464 
Business and corporate banking:
Performing loans1,079 606 253 275 151 3,485 7,145 322 13,316 
Nonaccrual loans1 15 12 60 1 3 71 — 163 
Total business and corporate banking1,080 621 265 335 152 3,488 7,216 322 13,479 
Global banking:
Performing loans507 495 190 231 104 6,023 5,632 — 13,182 
Nonaccrual loans— — — — — 127 210 — 337 
Total global banking507 495 190 231 104 6,150 5,842 — 13,519 
Other commercial:
Performing loans378 431 215 105 119 630 2,259 — 4,137 
Total other commercial378 431 215 105 119 630 2,259 — 4,137 
Total commercial:
Performing loans2,509 5,307 3,433 1,979 638 11,732 15,115 342 41,055 
Nonaccrual loans1 15 36 60 1 150 281 — 544 
Total commercial$2,510 $5,322 $3,469 $2,039 $639 $11,882 $15,396 $342 $41,599 
Summary of Credit Quality Indicators The following table summarizes the credit risk profile of our commercial loan portfolio, including a disaggregation of the loans by year of origination as of December 31, 2021 and 2020:
20212020201920182017PriorRevolving
Loans		Revolving Loans Converted to Term LoansTotal at Dec. 31, 2021
 (in millions)
Real estate, including construction:
Investment grade$1 $361 $491 $772 $57 $248 $12 $— $1,942 
Non-investment grade968 292 2,025 1,344 536 1,077 34 16 6,292 
Total real estate, including construction969 653 2,516 2,116 593 1,325 46 16 8,234 
Business and corporate banking:
Investment grade881 254 240 52 43 2,122 2,498 55 6,145 
Non-investment grade749 459 368 168 195 2,635 3,077 162 7,813 
Total business and corporate banking1,630 713 608 220 238 4,757 5,575 217 13,958 
Global banking:
Investment grade530 539 189 64 235 3,910 4,240 — 9,707 
Non-investment grade17 1 14 16 8 710 636 — 1,402 
Total global banking547 540 203 80 243 4,620 4,876 — 11,109 
Other commercial:
Investment grade120 442 153 174 69 943 3,527 — 5,428 
Non-investment grade469 110 298 — 41 102 47 — 1,067 
Total other commercial589 552 451 174 110 1,045 3,574 — 6,495 
Total commercial:
Investment grade1,532 1,596 1,073 1,062 404 7,223 10,277 55 23,222 
Non-investment grade2,203 862 2,705 1,528 780 4,524 3,794 178 16,574 
Total commercial$3,735 $2,458 $3,778 $2,590 $1,184 $11,747 $14,071 $233 $39,796 
20202019201820172016PriorRevolving
Loans		Revolving Loans Converted to Term LoansTotal at Dec. 31, 2020
 (in millions)
Real estate, including construction:
Investment grade$339 $1,123 $817 $318 $179 $640 $6 $— $3,422 
Non-investment grade206 2,652 1,982 1,050 85 974 73 20 7,042 
Total real estate, including construction545 3,775 2,799 1,368 264 1,614 79 20 10,464 
Business and corporate banking:
Investment grade342 147 37 34 23 1,486 2,499 47 4,615 
Non-investment grade738 474 228 301 129 2,002 4,717 275 8,864 
Total business and corporate banking1,080 621 265 335 152 3,488 7,216 322 13,479 
Global banking:
Investment grade464 477 46 231 30 4,618 4,281 — 10,147 
Non-investment grade43 18 144 — 74 1,532 1,561 — 3,372 
Total global banking507 495 190 231 104 6,150 5,842 — 13,519 
Other commercial:
Investment grade372 163 117 105 116 525 1,932 — 3,330 
Non-investment grade6 268 98 — 3 105 327 — 807 
Total other commercial378 431 215 105 119 630 2,259 — 4,137 
Total commercial:
Investment grade1,517 1,910 1,017 688 348 7,269 8,718 47 21,514 
Non-investment grade993 3,412 2,452 1,351 291 4,613 6,678 295 20,085 
Total commercial$2,510 $5,322 $3,469 $2,039 $639 $11,882 $15,396 $342 $41,599 
Consumer loans:  
Accounts, Notes, Loans and Financing Receivable [Line Items]  
Summary of TDR Loans The following table summarizes TDR Loans in our consumer loan portfolio, including a disaggregation of the loans by year of origination as of December 31, 2021 and 2020:
20212020201920182017PriorRevolving
Loans		Total at Dec. 31, 2021
 (in millions)
Residential mortgages$— $1 $3 $3 $— $118 $— $125 
Home equity mortgages— — — — — 9 — 9 
Credit cards— — — — — — 3 3 
Total consumer$— $1 $3 $3 $— $127 $3 $137 
20202019201820172016PriorRevolving
Loans		Total at Dec. 31, 2020
 (in millions)
Residential mortgages$3 $5 $6 $3 $2 $563 $— $582 
Home equity mortgages— — — — — 31 — 31 
Credit cards— — — — — — 5 5 
Total consumer$3 $5 $6 $3 $2 $594 $5 $618 
Summary of Nonperforming Status The following table summarizes the nonperforming status of our consumer loan portfolio, including a disaggregation of the loans by year of origination as of December 31, 2021 and 2020:
20212020201920182017PriorRevolving
Loans		Total at Dec. 31, 2021
 (in millions)
Residential mortgages:
Performing loans$4,496 $3,296 $1,481 $851 $955 $4,161 $— $15,240 
Nonaccrual loans
2 9 15 21 14 168 — 229 
Total residential mortgages4,498 3,305 1,496 872 969 4,329 — 15,469 
Home equity mortgages:
Performing loans15 30 30 18 17 206 — 316 
Nonaccrual loans
— — — — — 9 — 9 
Total home equity mortgages15 30 30 18 17 215 — 325 
Credit cards:
Performing loans— — — — — — 202 202 
Accruing loans contractually past due 90 days or more
— — — — — — 2 2 
Total credit cards— — — — — — 204 204 
Other consumer:
Performing loans8 8 5 1 1 45 2 70 
Total other consumer8 8 5 1 1 45 2 70 
Total consumer:
Performing loans4,519 3,334 1,516 870 973 4,412 204 15,828 
Nonaccrual loans2 9 15 21 14 177 — 238 
Accruing loans contractually past due 90 days or more
— — — — — — 2 2 
Total consumer$4,521 $3,343 $1,531 $891 $987 $4,589 $206 $16,068 
20202019201820172016PriorRevolving
Loans		Total at Dec. 31, 2020
 (in millions)
Residential mortgages:
Performing loans$4,491 $2,369 $1,338 $1,572 $1,852 $5,676 $— $17,298 
Nonaccrual loans
38 107 93 86 78 677 — 1,079 
Total residential mortgages4,529 2,476 1,431 1,658 1,930 6,353 — 18,377 
Home equity mortgages:
Performing loans50 51 33 34 45 451 — 664 
Nonaccrual loans
— — 1 1 2 59 — 63 
Total home equity mortgages50 51 34 35 47 510 — 727 
Credit cards:
Performing loans— — — — — — 1,047 1,047 
Accruing loans contractually past due 90 days or more
— — — — — — 19 19 
Total credit cards— — — — — — 1,066 1,066 
Other consumer:
Performing loans87 39 — 1 8 128 54 317 
Accruing loans contractually past due 90 days or more
— — — — — — 2 2 
Total other consumer87 39 — 1 8 128 56 319 
Total consumer:
Performing loans4,628 2,459 1,371 1,607 1,905 6,255 1,101 19,326 
Nonaccrual loans38 107 94 87 80 736 — 1,142 
Accruing loans contractually past due 90 days or more
— — — — — — 21 21 
Total consumer$4,666 $2,566 $1,465 $1,694 $1,985 $6,991 $1,122 $20,489 
Summary of Credit Quality Indicators The following table summarizes dollars of two-months-and-over contractual delinquency for our consumer loan portfolio, including a disaggregation of the loans by year of origination as of December 31, 2021 and 2020:
20212020201920182017PriorRevolving
Loans		Total at Dec. 31, 2021
 (in millions)
Residential mortgages(1)(2)
$5 $2 $11 $13 $8 $64 $— $103 
Home equity mortgages(1)(2)
— — — — — 1 — 1 
Credit cards— — — — — — 3 3 
Other consumer— — — — — — — — 
Total consumer$5 $2 $11 $13 $8 $65 $3 $107 
20202019201820172016PriorRevolving
Loans		Total at Dec. 31, 2020
 (in millions)
Residential mortgages(1)(2)
$3 $15 $13 $25 $19 $329 $— $404 
Home equity mortgages(1)(2)
— — — — — 25 — 25 
Credit cards— — — — — — 28 28 
Other consumer1 1 — — — 4 2 8 
Total consumer$4 $16 $13 $25 $19 $358 $30 $465 
(1)At December 31, 2021 and 2020, consumer mortgage loan delinquency includes $24 million and $281 million, respectively, of loans that are carried at the lower of amortized cost or fair value of the collateral less cost to sell.
(2)At December 31, 2021 and 2020, consumer mortgage loans include $87 million and $109 million, respectively, of loans that were in the process of foreclosure.