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CONSOLIDATED STATEMENT OF INCOME (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Interest income:        
Loans $ 861 $ 437 $ 1,664 $ 813
Securities 368 169 691 310
Trading securities 60 55 109 118
Short-term investments 416 110 826 137
Other 18 12 37 17
Total interest income 1,723 783 3,327 1,395
Interest expense:        
Deposits 869 135 1,625 193
Short-term borrowings 120 21 220 26
Long-term debt 290 89 546 157
Other 10 6 19 10
Total interest expense 1,289 251 2,410 386
Net interest income 434 532 917 1,009
Provision for credit losses 36 69 56 80
Net interest income after provision for credit losses 398 463 861 929
Other revenues:        
Trading revenue 228 61 453 133
Other securities gains, net 0 9 3 29
Gain (loss) on instruments designated at fair value and related derivatives 2 19 (20) 25
Gain on sale of branch disposal group, net 0 0 0 111
Other income (loss) (60) (39) (77) (82)
Total other revenues 448 343 901 829
Operating expenses:        
Salaries and employee benefits 138 138 259 292
Support services from HSBC affiliates 425 419 809 837
Occupancy expense, net 10 13 40 30
Other expenses 74 123 168 220
Total operating expenses 647 693 1,276 1,379
Income before income tax 199 113 486 379
Income tax expense 48 23 118 88
Net income 151 90 368 291
Credit card fees, net        
Other revenues:        
Other revenues 12 12 23 27
Trust and investment management fees        
Other revenues:        
Other revenues 32 34 63 60
Other fees and commissions        
Other revenues:        
Other revenues 157 160 305 338
Servicing and other fees from HSBC affiliates        
Other revenues:        
Other revenues $ 77 $ 87 $ 151 $ 188