XML 12 R2.htm IDEA: XBRL DOCUMENT v3.24.1.u1
CONSOLIDATED STATEMENT OF INCOME (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Interest income:    
Loans $ 899 $ 803
Securities 445 323
Trading securities 85 49
Short-term investments 448 410
Other 16 19
Total interest income 1,893 1,604
Interest expense:    
Deposits 1,012 756
Short-term borrowings 154 100
Long-term debt 285 256
Other 16 9
Total interest expense 1,467 1,121
Net interest income 426 483
Provision for credit losses 2 20
Net interest income after provision for credit losses 424 463
Other revenues:    
Trading revenue 276 225
Other securities gains, net 2 3
Gain (loss) on instruments designated at fair value and related derivatives (20) (22)
Other income (loss) (34) (17)
Total other revenues 539 453
Operating expenses:    
Salaries and employee benefits 135 121
Support services from HSBC affiliates 399 384
Occupancy expense, net 18 30
Other expenses 133 94
Total operating expenses 685 629
Income before income tax 278 287
Income tax expense 53 70
Net income 225 217
Credit card fees, net    
Other revenues:    
Other revenues 15 11
Trust and investment management fees    
Other revenues:    
Other revenues 36 31
Other fees and commissions    
Other revenues:    
Other revenues 176 148
Servicing and other fees from HSBC affiliates    
Other revenues:    
Other revenues $ 88 $ 74