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CONSOLIDATED STATEMENT OF INCOME (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Interest income:    
Loans $ 376 $ 451
Securities 141 177
Trading securities 63 48
Short-term investments 27 16
Other 5 9
Total interest income 612 701
Interest expense:    
Deposits 58 81
Short-term borrowings 5 5
Long-term debt 68 82
Other 4 2
Total interest expense 135 170
Net interest income 477 531
Provision for credit losses 11 (227)
Net interest income after provision for credit losses 466 758
Other revenues:    
Trading revenue 72 41
Other securities gains, net 20 29
Gain on instruments designated at fair value and related derivatives 6 18
Gain on sale of branch disposal group, net 111 0
Other income (loss) (43) 9
Total other revenues 486 384
Operating expenses:    
Salaries and employee benefits 154 176
Support services from HSBC affiliates 418 367
Occupancy expense, net 17 30
Other expenses 97 109
Total operating expenses 686 682
Income before income tax 266 460
Income tax expense 65 121
Net income 201 339
Credit card fees, net    
Other revenues:    
Other revenues 15 10
Trust and investment management fees    
Other revenues:    
Other revenues 26 29
Other fees and commissions    
Other revenues:    
Other revenues 178 165
Servicing and other fees from HSBC affiliates    
Other revenues:    
Other revenues $ 101 $ 83