Deposits

12 Months Ended

Dec. 31, 2023

Total deposits were $121,283 million and $123,223 million at December 31, 2023 and 2022, respectively, of which $1,821 million and $1,554 million, respectively, were carried at fair value.

The following table presents the aggregate amount of time deposit accounts in denominations exceeding $250,000 at December 31, 2023 and 2022:


At December 31,	2023		2022
	(in millions)
Domestic deposits	$	16,504	$	12,877
Foreign deposits	366		423
Total	$	16,870	$	13,300

The scheduled maturities of all time deposits at December 31, 2023 are summarized in the following table:


	Domestic Deposits		Foreign Deposits		Total
	(in millions)




2024	$	17,620	$	366	$	17,986
2025	599		—		599
2026	1,692		—		1,692
2027	220		—		220
2028	693		—		693
Thereafter	14		—		14
	$	20,838	$	366	$	21,204

Overdraft deposits, which are classified as loans, were approximately $91 million and $205 million at December 31, 2023 and 2022, respectively.

Federal Deposit Insurance Corporation ("FDIC") assessment fees, which are recorded as a component of other expenses in the consolidated statement of income, totaled $322 million, $54 million and $63 million in 2023, 2022 and 2021, respectively.

In November 2023, the FDIC issued a final rule that imposes a special assessment on certain FDIC-insured banks, including HSBC Bank USA, to recover the loss to the Deposit Insurance Fund arising from the protection of uninsured depositors following a determination of systemic risk in connection with the failures of Silicon Valley Bank and Signature Bank. The special assessment is based on an insured depository institution's estimated uninsured deposits reported as of December 31, 2022 and will be assessed over eight quarterly periods beginning with the first quarter of 2024. The special assessment results in $243 million of additional deposit insurance assessment fees for HUSI, which were accrued in the fourth quarter of 2023. Because the estimated loss to the Deposit Insurance Fund will be periodically adjusted as actual losses are incurred, the FDIC retains the ability to cease collection early or extend the special assessment collection period, as needed.