HSBC France € 20,000,000,000 Euro Medium Term Note Programme

32
2008 0.32 12.19 3.81 9.83
2007 0.30 8.27 2.96 8.04
Minimum
2008 0.10 7.53 2.10 6.71
2007 0.11 4.40 0.74 4.96
Maximum
2008 0.61 24.74 6.31 17.05
2007 0.66 12.46 6.54 13.70
Positions taken with trading intent – VaR by risk type
(in millions of euros) Foreign exchange Interest rate trading Equity Total
At 30 June 2008 0.31 13.22 6.31 9.51
At 31 December 2007 0.40 8.47 5.94 8.15
Average
2008 0.32 10.61 3.81 7.12
2007 0.30 7.42 2.96 6.46
Minimum
2008 0.10 5.89 2.10 6.71
2007 0.11 4.38 0.74 4.87
Maximum
2008 0.61 22.45 6.31 13.37
2007 0.66 12.38 6.54 10.08
Positions taken without trading intent – VaR by risk type
(in millions of euros) Foreign exchange Interest rate trading Equity Total
At 30 June 2008 – 3.10 – 3.10
At 31 December 2007 – 2.55 – 2.55
Average
2008 – 2.71 – 2.71
2007 – 1.58 – 1.58
Minimum
2008 – 0.00 – 0.00
2007 – 0.09 – 0.09
Maximum
2008 – 3.68 – 3.68
2007 – 3.61 – 3.61
Capital Adequacy reporting
Internal model allows the daily calculation of Value at Risk for all positions. It has been approved by the French
Banking Commission for regulatory capital adequacy calculations. At 30 June 2008, it covered almost all of
market risks within HSBC France. Risks not covered by the internal model are measured using the standardised
approach devised by the Bank of International Settlements and transposed into French law by CRBF regulation
95-02.
Capital requirements with respect to market risks break down as follows (millions of euros):
30 June 2008 31 December 2007 31 December 2006
BIS CAD BIS CAD BIS CAD
Internal Model: 159.6 159.6 92.0 92.0 71.6 71.6