The world's local bank Annual Report and Accounts CCF - HSBC

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CCF Notes to the consolidated financial statements (continued) 27 Financial instruments a Forwards, futures and options 2003 2002 (in € billion) dddddddddddddddddddddddddddd dddddddddddddddddddddddddddd Hedging Trading Total Hedging Trading Total dddddddd dddddddd dddddddd dddddddd dddddddd dddddddd Forwards and futures . . 17.2 664.7 681.9 25.5 545.8 571.3 Transactions on organised markets . . – 62.0 62.0 – 48.7 48.7 – fixed-income contracts . . . . . . – 60.6 60.6 – 47.6 47.6 – currency contracts – – – – – – – stock indices and equities . . . – 1.4 1.4 – 1.1 1.1 Over-the-counter transactions . . . . . . 17.2 602.7 619.9 25.5 497.1 522.6 – interest rate futures . – – – – – – – interest rate swaps . . 11.1 554.2 565.37 20.8 454.9 475.7 – currency swaps . . . 6.1 48.4 54.5 4.7 41.9 46.6 – others . . . . . . . . . . – 0.1 0.1 – 0.3 0.3 Options . . . . . . . . . . . . 1.5 138.0 139.5 0.5 85.5 86.0 Transactions on recognised exchanges – 25.0 25.0 – 10.0 10.0 Interest rate options . . – 17.3 17.3 – 5.9 5.9 Currency options . . . . – 1.6 1.6 – 0.9 0.9 Other options . . . . . . . – 6.1 6.1 – 3.2 3.2 Over-the-counter transactions . . . . . . 1.5 113.0 114.5 0.5 75.5 76.0 Caps and floors . . . . . 1.0 3.0 4.0 0.5 0.5 1.0 Swaptions and options 0.5 110.0 110.5 – 75.0 75.0 dddddddd dddddddd dddddddd dddddddd dddddddd dddddddd TOTAL . . . . . . . . . . . 18.7 802.7 821.4 26.0 631.3 657.3 ffffffff ffffffff ffffffff ffffffff ffffffff ffffffff b Additional information concerning outstanding fixed-income contracts (in € billion) 2003 2002 2001 dddddddd dddddddd dddddddd Specific hedging contracts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.6 17.4 21.8 Macro hedging contracts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.9 3.4 2.3 Specialised management of a trading book . . . . . . . . . . . . . . . . . . . . 553.6 454.2 522.9 Specific trading transactions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.1 0.6 – c Financial instruments: residual maturity TOTAL 2003 dddddddddddddddddddddddddddddddd Under 1 to Over (in € billion) 1 year 5 years 5 years dddddddd dddddddd dddddddd Financial instruments: Currency . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 48.3 7.8 1.7 Fixed-income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 330.5 262.9 160.4 Others . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.1 1.7 – 78
27 Financial instruments (continued) d Credit risk associated with financial instruments (in € million) 2003 2002 dddddddd dddddddd A – Contracts negotiated within the framework of master agreements and eligible for netting . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,234.6 2,123.6 a) Transactions with banks in OECD countries . . . . . . . . . . . . . . . . . . . . . . . . . 2,482.5 1,619.3 b) Transactions with customers and with banks outside the OECD . . . . . . . . . 752.1 504.3 B – Other contracts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 506.4 685.7 a) Transactions with banks in OECD countries . . . . . . . . . . . . . . . . . . . . . . . . . 323.8 270.0 – Interest rate contracts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 56.2 189.0 – Currency contracts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 108.7 66.0 – Equity contracts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 71.8 15.0 – Commodities contracts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 87.1 – b) Transactions with customers and with banks outside the OECD . . . . . . . . . 182.6 415.7 – Interest rate contracts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65.5 137.7 – Currency contracts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 66.8 143.0 – Equity contracts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50.3 135.0 ddddddddd ddddddddd TOTAL CREDIT RISK ASSOCIATED WITH FINANCIAL INSTRUMENTS . . . 3,741.0 2,809.3 ffffffff ffffffff Representing a weighted credit risk equivalent of: . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,028.6 838.1 FINANCIAL INSTRUMENTS – ACCRUED INTEREST RECORDED IN THE BALANCE SHEET – Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 423.1 327.0 – Liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 129.6 93.6 28 Interest rate spread (in € million) 2003 2002 2001 dddddddd dddddddd dddddddd Interest and similar income – Banks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 376.3 744.4 947.1 – Customers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,520.9 1,688.3 1,966.2 – Leasing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 61.3 39.5 1 971.9 – Debt securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 385.5 335.1 691.0 – Others . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.1 1.1 3.2 ddddddddd ddddddddd ddddddddd TOTAL . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,344.1 2,808.4 4,579.4 ffffffff ffffffff ffffffff Interest and similar expense – Banks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (440.7) (776.3) (1,412.5) – Customers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (532.2) (629.1) (927.8) – Leasing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (33.8) (15.0) 1 (848.1) – Debt securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (324.7) (408.0) (526.3) – Others . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (2.3) (4.9) (0.8) ddddddddd ddddddddd ddddddddd TOTAL . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1,333.7) (1,833.3) (3,715.5) ffffffff ffffffff ffffffff 1 Impact of disposal of Lixxbail. 79
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CCF Annual Report and Accounts The
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CCF Annual Report and Accounts 2003
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CCF Report of the Board of Director
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400 customers are now authorised to
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In light of these results, the Boar
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Special business Pursuant to the pr
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Peter Boyles Senior Corporate Vice
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CCF Corporate Governance Compositio
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William P. Dalton Born in 1943 Hold
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Jean-Claude Jolain Born in 1943 Hol
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CCF Corporate governance Remunerati
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CCF Chairman’s report on corporat
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Special committees Nomination and R
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controls are documented in the Acco
Page 29 and 30: d e performed to assess compliance
Page 31 and 32: CCF regularly issues internal circu
Page 33 and 34: c • HSBC reporting: This principa
Page 35 and 36: CCF Corporate social responsibility
Page 37 and 38: Due to its robust financial structu
Page 39 and 40: Back testing The chart below presen
Page 41 and 42: International solvency ratio (BIS r
Page 43 and 44: Compliance and money laundering The
Page 45 and 46: CCF International Financial Reporti
Page 47 and 48: Discussion of the main items of the
Page 49 and 50: Consolidated profit and loss accoun
Page 51 and 52: Consolidated balance sheets 2003 -
Page 53 and 54: CCF Notes to the consolidated finan
Page 55 and 56: 2 Group accounting policies and val
Page 63 and 64: 3 Presentation of financial stateme
Page 65 and 66: 6 Treasury bills, debt securities a
Page 67 and 68: 7 Long term securities and other pa
Page 69 and 70: 9 Tangible fixed assets (in € mil
Page 71 and 72: 12 Prepayments and accrued income (
Page 73 and 74: 16 Debt securities in issue (in €
Page 75 and 76: 20 Subordinated liabilities (in €
Page 77 and 78: 23 Consolidated shareholders’ fun
Page 79: 25 Sovereign risks In 1989, CCF sec
Page 83 and 84: 31 Dealing profits (in € million)
Page 85 and 86: 37 Exceptional items (in € millio
Page 87 and 88: 40 List of consolidated companies (
Page 89 and 90: 40 List of consolidated companies (
Page 91 and 92: Change in consolidation method: Non
Page 93 and 94: Balance sheets 2003 - 2002 - 2001 (
Page 95 and 96: Statement of reported net profit an
Page 97 and 98: Five-year highlights (articles 133
Page 99 and 100: List of equity shares and debt secu
Page 101 and 102: Dividends Book value Loan and recei
Page 107 and 108: Shareholders’ funds* Attributable
Page 109 and 110: Attributable net profitCCF group’
Page 111 and 112: Shareholders’ funds* Attributable
Page 113 and 114: - Disposal of CCF’s 33.4 per cent
Page 115 and 116: CCF CCF group offices CCF’s main
Page 117 and 118: Statutory auditors’ report on the
Page 119 and 120: Statutory auditors’ report on the
Page 121 and 122: Statutory auditor’s report, prepa
Page 123 and 124: Agreements approved in prior years
Page 125 and 126: CCF Annual General Meeting of 12 Ma
Page 127 and 128: Thirteenth resolution Having heard
Page 129 and 130: CCF Information on CCF and its shar
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2001 2000 1999 ddddddddddddddddddd
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Changes in ownership of share capit
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Employee relations and collective b
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Profit-sharing agreement The profit
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dddddddddddddddddddddddddddd 7.5.19
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Options granted by subsidiaries to
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CCF Recent developments and outlook
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CCF Persons responsible for the ref
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Names and addresses of Statutory Au
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CCF Network of offices RETAIL BANK
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© Copyright CCF S.A. 2004 All righ
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The world's local bank Annual Report and Accounts CCF - HSBC

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