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Related Party Transactions (Tables)
 3 Months Ended
Mar. 31, 2024
Related Party Transactions [Abstract]  
Summary of Related Party Transactions The following tables present related party balances and the income (expense) generated by related party transactions:
March 31, 2024December 31, 2023
 (in millions)
Assets:
Cash and due from banks$166 $133 
Interest bearing deposits with banks14 90 
Securities purchased under agreements to resell(1)
11 406 
Trading assets80 57 
Loans3,442 2,618 
Other(2)
1,141 491 
Total assets$4,854 $3,795 
Liabilities:
Deposits$14,915 $9,110 
Trading liabilities78 321 
Short-term borrowings608 1,014 
Long-term debt6,508 6,511 
Other(2)
267 331 
Total liabilities$22,376 $17,287 
(1)Reflects purchases of securities under which other HSBC affiliates have agreed to repurchase.
(2)Other assets and other liabilities primarily consist of derivative balances associated with hedging activities and other miscellaneous account receivables and payables. Other assets also includes receivables from HSBC Bank plc associated with certain client share repurchase transactions.
Three Months Ended March 31,20242023
 (in millions)
Income (Expense):
Interest income$54 $57 
Interest expense(130)(119)
Net interest expense(76)(62)
Trading revenue (expense)(2,020)(778)
Servicing and other fees from HSBC affiliates:
HSBC Bank plc48 41 
HSBC Markets (USA) Inc. ("HMUS")23 18 
Other HSBC affiliates17 15 
Total servicing and other fees from HSBC affiliates88 74 
Gain on instruments designated at fair value and related derivatives125 432 
Support services from HSBC affiliates:
HSBC Technology & Services (USA) Inc. ("HTSU")(235)(220)
HMUS(56)(53)
Other HSBC affiliates(108)(111)
Total support services from HSBC affiliates(399)(384)
Rental income from HSBC affiliates(1)
14 9 
Stock based compensation expense(2)
(9)(5)
(1)We receive rental income from our affiliates for certain office space, which is recorded as a component of occupancy expense, net in our consolidated statement of income.
(2)Employees may participate in one or more stock compensation plans sponsored by HSBC. These expenses are included in salaries and employee benefits in our consolidated statement of income. Certain employees are also eligible to participate in a defined benefit pension plan and other postretirement plans sponsored by HSBC North America which are discussed in Note 22, "Pension and Other Postretirement Benefits," in our 2023 Form 10-K.
Schedule of Loan Balances Outstanding with Affiliates
At March 31, 2024 and December 31, 2023, we had the following loan balances outstanding with HSBC affiliates:
March 31, 2024December 31, 2023
 (in millions)
HMUS and subsidiaries$2,140 $1,318 
HSBC North America
1,300 1,300 
Other short-term affiliate lending2 — 
Total loans$3,442 $2,618