AK: ‘It’s an economic war’: How the Edward Snowden of banking is blowing the whistle on secret Swiss accounts

Former French employee of HSBC Private Bank Herve Falciani collected
 data on at least 24,000 customers of HSBC's Swiss subsidiaries from
 2006 to 2008, while he worked in the bank's information technology
 development unit in Geneva, which he then passed on to French authorities.
The data is at the centre of a row between France and Switzerland over
suspicions of tax evasion by French citizens using Swiss bank accounts.

http://americankabuki.blogspot.com/2013/08/its-economic-war-how-edward-snowden-of.html
‘It’s an economic war’: How the Edward Snowden of banking is blowing the whistle on secret Swiss accounts

The New York Times | 13/08/08 | Last Updated: 13/08/09 12:00 AM ET
http://news.nationalpost.com/2013/08/08/how-the-edward-snowden-of-banking-is-blowing-the-whistle-on-secret-swiss-accounts/

Former French employee of HSBC Private Bank Herve Falciani collected data on at least 24,000 customers of HSBC's Swiss subsidiaries from 2006 to 2008, while he worked in the bank's information technology development unit in Geneva, which he then passed on to French authorities. The data is at the centre of a row between France and Switzerland over suspicions of tax evasion by French citizens using Swiss bank accounts.

Herve Falciani collected data on at least 24,000 customers of HSBC's Swiss subsidiaries from 2006 to 2008, while he worked in the bank's information technology development unit in Geneva, which he then passed on to French authorities. The data is at the centre of a row between France and Switzerland over suspicions of tax evasion by French citizens using Swiss bank accounts.

Hervé Falciani is a professed whistle-blower – the Edward Snowden of banking – who has been hunted by Swiss investigators, jailed by Spaniards and claims to have been kidnapped by Israeli Mossad agents eager for a glimpse of the client data he stole while working for a major financial institution in Geneva.

“I am weak and alone,” Falciani said, as three round-the-clock bodyguards provided by the French government looked on with hard stares. The protection was needed, he insisted, because he faces constant risk as the sole key to decipher the encrypted data – five CD-ROMs containing a list of nearly 130,000 account holders that may be the biggest leak ever in the secretive world of Swiss banking.

But as he settled into a deserted bistro for a two-hour lunch, Falciani, a former computer technician who has been on the run since 2008, seemed oddly relaxed for a fugitive. And why not?

He is in high demand these days, having cast himself as a crusader against the murky world of Swiss banking and money laundering. Once dismissed by many European authorities, he and other whistle-blowers are now being courted as the region’s governments struggle to fill their coffers and to stem a populist uprising against tax evasion and corruption.

“It’s an economic war,” said Falciani, an angular man of 41 with a dark goatee who sometimes dons disguises, although on a muggy summer afternoon favored an innocuous beige tie and short-sleeved dress shirt. “In Switzerland, the banks are so organized that they are able to circumvent new rules and laws to continue to enable tax evasion.”
Critics, not least at his former employer HSBC, dismiss Falciani as a manipulator more dazzled by money than high ideals. The data he has leaked – some say sold – since 2008 has wreaked havoc within the banking world, as well as the moneyed and political classes of Europe.

Falciani’s information formed the basis for the now famous “Lagarde list” that has roiled Greek politics with its revelations of oligarchs and politicians who avoided taxes by stashing millions in Switzerland. His data is also credited with helping Spain collect 260 million euros ($345 million) in taxes and identify more than 650 tax evaders, including the president of Banco Santander.

In 2012, Falciani passed his information to U.S. authorities. They, in turn, used the data to pursue an investigation into whether HSBC flouted controls on money laundering, eventually forcing a $1.92 billion settlement with the bank in December.

The embattled Swiss bank UBS on Wednesday said it would slash 8,700 jobs in a bid to cut costs after it reported fresh losses for the first three months of this year. UBS agreed to pay nearly $50 million to settle charges over its disclosures related to a money-losing 2007 investment vehicle linked to sub-prime loans, a US agency announced on August 6, 2013.

Since being released from jail this year after a Spanish judge denied a Swiss extradition request, Falciani, who is married and has a young daughter, has resurfaced in France. Authorities here have offered protection in exchange for Falciani giving testimony to local prosecutors who are investigating whether HSBC helped French clients dodge taxes.

“My main objective is to help authorities develop a defense,” Falciani said.

“We are under attack and losing a lot of tax money,” he said of the Swiss banking system. “If you have enemies who want to invade, laws are not enough and you need armies to build an economic defense.”

“We are under attack and losing a lot of tax money

A native of Monaco who was educated in the south of France, Falciani once worked in obscurity at HSBC. In 2005, he was promoted and transferred to Geneva. The following year, he said he raised concerns to his bosses about security flaws in the Swiss computer system that could violate the privacy of depositors.

Ignored by his superiors, Falciani said he started collecting the information methodically, in an effort to prove the system was vulnerable. The bank denies that he ever alerted them and believes that he amassed the information over a two-year period.

Early on, Falciani said he got the brushoff from German bureaucrats who weren’t interested in his trove of data. His information was also shunned in France by the Sarkozy administration when “authorities tried to make evidence disappear and they didn’t want to know,” he said.

Then the European economy slumped and governments started to take notice.

In a report from the French National Assembly issued in July, the lawmaker Christian Eckert chided authorities for being slow to use Falciani’s list. According to Eckert, the information included 127,311 clients, including 6,313 from France who were suspected of tax evasion.

HSBC dismisses Falciani’s information as flawed, insisting that the small sample the bank has seen is filled with errors. At the time of his employment, the bank contends that it had only 100,000 customers and that the stolen data affected only 15,000 clients.

“To our knowledge it has always been Falciani’s intention to sell the data,” David Bragger, a bank spokesman, said in an email statement. “Only faced with the prospect of extradition and extended time behind bars, Falciani decided to cooperate with the Spanish authorities. A scheme he is now repeating with France and other countries.”

That theory is echoed by Georgina Mikhael, a former HSBC computer consultant who worked with Falciani in Geneva.

Mikhael says she helped Falciani develop a Hong Kong based company, Palorva, to sell data to other banks, initially believing he had obtained the information through what he called “data mining” from the Internet. She said they went to Lebanon in 2008 to sell their services to four banks. She said she grew suspicious when Falciani insisted on using a false Arabic name, Ruben Al-Chidiack, for their business dealings.

“He never gives something for free,” said Mikhael, who noted that after the Lebanon effort failed Falciani tried to approach German and French intelligence services, usually carrying a knife in his bag because he feared the risks. “Always he is asking. He is not Robin Hood.”

Mikhael, who is currently unemployed and lives in her native Lebanon, says that she was Falciani’s mistress, believing that he planned to divorce his wife. She is now pursuing a defamation lawsuit against him in France, stemming from his contention that he was kidnapped by Mossad secret agents in Geneva who were seeking bank information about people with Hezbollah ties, including her. Mikhael says she does not have Hezbollah ties and is Christian.

Always he is asking. He is not Robin Hood

Falciani disputes that he is peddling his information for cash and the claims – pressed by Mikhael – “are part of moves that people are keen to play” to harm his reputation. “’Never have I or anyone close to me asked or accepted money for information,” he said.

In 2012, Swiss authorities gave Falciani safe pass to meet in Switzerland to discuss a deal to plead guilty to data theft with a suspended sentence, provided that he stopped sharing the information. Falciani said he strung them along to protect his own safety, waiting for a new government in France that might take his claims more seriously.

Now that the political tide has turned, Falciani wants to continue working with authorities.

As the investigations play out, Falciani said he was holding down a day job, working for a European Union project as a computer researcher to develop algorithms to detect abnormal behavior. But he worries about his long-term safety, wondering whether he will live another year. He notes that his house has been broken into and that his wife was recently fired from a job at a shoe store because of his notoriety

“This business represents thousands of billions of euros,” he said. “From my side, I’m frightened.”

Consulates & the Vatican in Chaos as HSBC Tells them to Find Another Bank

Consulates & the Vatican in Chaos as HSBC Tells them to Find Another Bank
August 5, 2013

http://rt.com/usa/fbi-crimes-informants-scheme-035/

Bring it on baby! ~BK

Diplomats in London have been thrown into chaos after Britain’s biggest bank, HSBC, sacked them as customers and gave them 60 days to move their accounts.

Their situation has been made far worse because other banks have been closing ranks and refusing to take their business.

More than 40 embassies, consulates and High Commissions have been affected. Even the Vatican has been given its marching orders.

Havoc: HSBC's decision to sack embassies as customers has caused chaos also because other banks refused to take their business

The Pope’s representative office in Britain, the Apostolic Nunciature, has banked with HSBC for many years but was told to find another bank. 

One diplomatic source said he believed HSBC feared being exposed to embassies after it was fined $2billion (£1.32billion) by US authorities last year.

It was blamed for alleged money-laundering activities said to have been conducted through its Latin American operations by drug cartels. HSBC admitted at the time that it had failed to effectively counter money laundering.

Bernard Silver, head of the Consular Corps, which represents consuls in the UK, said: ‘HSBC’s decision has created havoc. Embassies and consulates desperately need a bank, not just to take in money for visas and passports, but to pay staff wages, rent bills, even the congestion charge.’

Embassies also have to pay for ambassadorial accommodation and sometimes even school fees for diplomats’ children. None of these bills can be settled without a valid British bank account.

John Belavu, minister at the Papua New Guinea High Commission, said: ‘We’ve been banking with HSBC for 22 years and for them to throw us off in this way was a bombshell.’

Lawrence Landau, honorary consul of Benin, said: ‘We have been trying everyone, but all the UK banks are clamming up.’

Other embassies are equally fraught. One said: ‘HSBC did not give us any real explanation. They have only given us until the middle of August to find another bank. We can’t find one and we are going crazy.’

Marching orders: The Vatican's representative office in Britain has been told by HSBC to find another bank.

Banking sources said diplomatic missions are considered to be ‘politically exposed’, which means they are at risk of money laundering activities.

HSBC, however, claims its decision is part of an assessment of all business customers to see if they satisfy five criteria – ‘international connectivity, economic development, profitability, cost efficiency and liquidity’.

One diplomat said: ‘We don’t even know what these criteria mean.’

HSBC would not explain the requirements to The Mail on Sunday and merely said: ‘HSBC has been applying a rolling programme of “five filter” assessments to all its businesses since May 2011, and our services for embassies are no exception.’

The Foreign & Commonwealth Office said it was in contact with HSBC and had provided a number of diplomatic missions with letters of introduction ‘to help in opening a new bank account’.

The debacle comes as HSBC prepares to unveil its half-year profits tomorrow. The group is expected to report that it made $14.6billion (£9.6billion) in profits for the first six months of the year. It made $12.7billion in the same period last year.

The ZAP Report 8-3-2013

The ZAP Report 8-3-2013
August 4, 2013

http://americankabuki.blogspot.com/2013/08/the-zap-report-8-3-2013.html

Oooh things get fun now!  And before September 1 too! We told you HSBC was the Dragons bank!  The contrast begins.  As Heather says "I love the Absolute Plan"!   All gets revealed... -AK

Greetings and Salutations,

Many important dates are included in today's update from ZAP. He was even kind enough to include some very important historical dates and information to help us better understand how we arrived at this point in history and where we are going from here.

From ZAP..........Hi All

Tomorrow, the global reset will begin. There is to be a series of announcements, amongst which is the RV of the dinar.

This ties in with the intense preparations that have been underway for most of the last months.

For those of you that understand numbers and the vibrations of those numbers, and the interrelationships between numbers, would probably understand when I say that the elders have always been mindful of numbers in their lives in respect of specific dates on which business may be considered being done according to lunar cycles, Feng Shui, or other systems that define their ways and paths.

For example, the number 8 is predominant as the symbol of prosperity/money/fortune. The number 9 is important as a number of finality and other profound meanings. For example, their master heritage accounts end with an “xxxxxx-888” suffix in HSBC. They do business preferably on the 1st of the 1st month, the 2nd of the 2nd month, the 3rd of the 3rd month, and so on.

They have lucky numbers, divine numbers, numbers that apparently mean nothing until you apply a key code to them, and all sorts of other number manipulations.

Well, the announcements are scheduled for August 4. Sorta an arbitrary number with no meaning, Right?

You may note that on august 4, 1790, was when the French revolution abolished the privileges of the nobles.

Any questions?

Moving on, the official redemption of the heritage assets has started, with preliminary contracts in the process of being issued for the redemptions. This will start putting a considerable amount of newly freed up cash on the streets. the first of many multi-millionaires shall be created.


IN RESPONSE TO QUESTIONS, I COMMENT AS FOLLOWS:

Is this the time line?.... RV now, then Global Reset which brings in Basel III now, followed by F&P paid out in the old system starting in August, then work the bugs out in August - September and finally convert over entirely to the new system October 1, now fully integrate the system in October, then PP paid out in November and early December?

Close. redemption of heritage asset starts, global gold settlements are effected, RV announced, basel III installed (as previously said). This begins the global reset. The rest of your timeline is still speculation at this point, but that is more or less what is planned. good think through…it is after all common sense if all goes smoothly.

It seems we are riding a roller coaster expecting certain events to occur and then for some reason they don't and we start rolling down hill again waiting for some reason to go back up again. Case in point the RV and Basel III should have already occurred. From the information you're privy to can you provide some insight on when the RV and Basel III will occur?

Tomorrow (today being the 3rd august).

We are hearing rumors that the "Global Reset" was to occur last week.

Yes, But the numbers were wrong, so this week.

When the RV is announced will the reset then occur immediately and kick in Basel III at the same time?

Prett well.

What exactly does the reset mean to us?

You will begin to breathe as the wealth of the ages is bestowed on you after so many centuries of subjugation, rape, and theft. You will experience peace and relief like in no other time. You will be entering into the proverbial 1000 years of peace and prosperity. Alternatively put in a metaphor, you get to have a shit, shower and shave and new clothes. There will be debt forgiveness, prosperity for all, end of poverty, the emergence of suppressed technologies, the reclamation of our planet and all the other good things prophesied in the 1000 year time. and more purple pigs will fly.

Are we still looking at a possible 60 days or less delay?

Why? It's over.

Will the Dinar be paid out in the old system or in the new system?

Good question. Do not know. Will ask.

Do we need Dinar and/or F&P to be paid out to kick in the new system or is that a myth?

Half and half, but really the question is a bit off. The answer is that the Dinar and F&P thing are just part and parcel of what needs to happen to enable the proper rollout of the new system..


Other events as reported by others include:

All the following key factors have been executed: (where it says confirmed, I confirmed it at whatever level it had to be confirmed on)

July 29, 2013 at 10:49pm

1. Tax treaty is signed (**confirmed**)

2. Paris club issues have been resolved & negotiated

3. There are zero glitches in banking computer systems (**confirmed**)

4. All systems are now 100% integrated globally (**confirmed**)

5. The basket is set for release

6. Bank of international settlements role completed (ongoing really)

7. The UNSC Iraq compensation staff has started global payouts to countries from the funds

8. Global reset is in motion (**confirmed**)

9. Timeline has not changed from this morning (any minute-August 1) (this was last week and yes we were delayed)

10. UN operational rates of exchange will be updating (**confirmed**)

11. IMF role is completed (ongoing really)

12. Iraq has met all requirements to revalue currency & become internationally trade-able (**confirmed**)

13. The 48 hour deadline goals were met with paris club

14. The tariffs are live

15. UST role is completed (ongoing really)

16. All participating banks & institutions are on highest alert ever (**confirmed**)

17. Intra bank memos went out to banks again today

18. There will be many smaller banks involved in the exchange under the umbrella (**confirmed** but mainly wells fargo)

19. The rates have been set & are transitioning from placeholder rates to live rates now (**confirmed**)

20. Forex & NASDAQ is now fully integrated (100%) (**confirmed**)

21. Bloomberg data feeds are now integrated (100%) (**confirmed**)

22. The smart cards are ready for global release (**confirmed**)


The US Treasury notes that are ready for the exchange when the Republic of the United States is announced, has an interesting history behind all the machinations over the decades, but it is important to note the why and when of this history.

The Chinese Royal family has a great deal to do with the events here and now as we all know, but who really knows the real history of the milestone events for the USA and the role the Chinese government/family has played….here is your first real glimpse into that secret world – I took out certain codes which I do not have permission to reveal:

The Origin of U.S. Currencies and Bonds and Brief History

1. 1776:

Independency Day of United States of America (U.S.A.)

2.1786

(Case No: xx3)

Ching Dynasty made a loan to USA as the capital of "Country Development Foundation" (or Chien Kuo Foundation). The following organizations were founded for this provision:

Dragon and Phoenix

Butterfly

Plum

Others

The contract was signed in 1907 (Kuang-Hsu Year 33, Ching Dynasty) in Shanghai and contract exchanged in Beijing. The face amount of the above collateral provided to the organizations is in total about 50 trillion USD divided equally between each organization with guaranteed values for 300 years.

3. 1911:

Year of the Republic of China (ROC) (founding thereof).

1913: Jekyll Island happens, and the accounts were audited, and a conclusion was drawn to issue new US currencies (Gold and Silver Bonds) with big face amounts as governmental debt (issued by 12 Federal Reserve Banks and the Bank of Washington, a bank directly under the US Treasury). The printing was terminated in 1945.

4. 1929

(Case No. xxxx9)

Recession in US, and the Bank of Washington went to bankruptcy. The ROC provided a loan to the USA of about 200,000 ounces of gold as collateral to issue USD 2 Billion currency to pay for the interest.

5. 1933

(Case No: xxxx3)

All the currencies were placed to dormant accounts (under x3, x6 and x9) after the so called "xx8 Accident” (September 18, 1931).

6. 1937

After the war broke up at Lu-Kou-Bridge (7/7/1937), all the values were moved to Southern part of China. A resolution from the meetings between US and ROC decided to distribute / keep the gold and silver to 537 generals with official documents. This was to prevent / minimize the chance of losing the wealth belonging to the Chinese people.

7. 1948 Autumn

(Article x7)

ROC retreated to Taiwan. The ROC 38th Division gave their lives keeping back the forces of the PRC back for a sufficient period of time for the 37th Division to take the wealth of China from the 42 trucks that were about 7 hours away from the coast, and hide it all in secret locations throughout China in the mountains. At least 1 case was damaged with US currencies printed prior to 1934.

8. The aforementioned wealth is mostly well-kept by xxxxxxxxxxxxxxxxx with documents and origin “keys”.

This glimpse into the real history is a secret thing, but now with the reset around the corner, it matters not, and serves only to educate about a very sensitive part of the us history. this education will not harm.

Another item of note is the solar storm warnings. The governments have been downplaying this for a while now, but it is important to know. The really bad [cook the earth] stuff is a decade or so away as we go through the rift, but the immediate stuff that is filtering through is still causing electronic headaches everywhere. Notice them? Internet etc?

Good link for info: http://www.solarstormwarning.com/

Hope this helps with a bit more clarity. more next week as required.

Oh yes, almost forgot, there was one who asked about omega. Yes, all the programs are still continuing, and when the time comes, they will spit out what they are meant to provide, even if we do not hear much on those programs.

God bless.

In love and light in our service

Zap

“God is; I am; We are”

“Be good, be legal, tell truth”

POOF Says..... “Ok, no more happy talk, I got 20 years of listening and frankly I'm bored to tears. A guarantee is no good unless unless Sears backs it...lolol. Just 'do it' and be done with it, things will never be perfect on an imperfect planet. Whiners will whine until they realize no one is listening to them. I've recently taken on a Missouri mindset. 'Show me' I've been told, all is set, ok...great make it so, Number 1.”

Consultations upon request until the doorbell rings.

Love and Kisses,

Susan & Staff

Office of Poofness

RTS: The Bar is Now Dry..... Party is all over.

RTS: The Bar is Now Dry..... Party is all over.
August 4, 2013

Just as I was about to post this story from HSBC, I go to check out D's blog to see she has beaten me to it. Big moves being made by HSBC and this National Debt freeze is an interesting story indeed. Boy oh boy August is shaping up to be quite the month! ~BK

http://removingtheshackles.blogspot.com/2013/08/the-bar-is-now-dry-party-is-all-over.html

Oh I sooooo love all the data that is streaming out right now!!! I was in the middle of putting together another article that ties more dots together between the Vatican and the US..... but this really is a piece that needed to go out first. HSBC is closing accounts down of embassies and even the Vatican accounts. The US announced a few days ago that it was closing down embassies in "hot zones" due to "security risks"... but as I told everyone in the RTS skype room, if "security risks" actually means "We've run out of money and can't pay our bills any more", then yes, it's true.

The party is over my friends. Thanx for coming out, but the bar is now dry, and cheetos and peanut bowls are empty and the bouncers are now carrying out the drunks. The bartender has just realized that the tip jar is empty and the cash register seems to of vanished as well. Since they can't pay for the booze they already sold off, they won't be getting another shipment of hooch tomorrow or the day after- and since the last cache of alcohol they got was from the very last distributor they had left (having fucked all the other booze warehouses over by not paying their bills with them either)..... They tried making their own moonshine, thinking they could pass it off as 12 year old Scotch..... but it blew up in their face.

The Banks, the Corporate Governments, the IMF, the BIS and all their lackeys are bust broke. They don't even have fumes left in the tank to pretend with any more. Every source of money and all their secret stashes of cash, are gone gone gone. I predict that over the next few weeks you'll be reading a lot more articles like these two below.

THIS article sort sums it up a bit more:


"....In case you didn't know it, the "official" national debt has been the same for more than 70 days. How is that possible, considering the national debt climbs about a million dollars a minute?

According to CNSNews.com, which has analyzed the ongoing U.S. Treasury debt data, the federal debt has been stuck at exactly $16,699,396,000,000.00 for more 70 days, as of July 29. That's about $25 million below the congressionally authorized legal limit of $16,699,421,095,673.60:

The portion of the federal debt subject to the legal limit set by Congress first hit $16,699,396,000,000.00 at the close of business on May 17. At the close of every business day since then, it has also been $16,699,396,000,000.00, according to the official accounting published by the Treasury Department.

We should exceed the debt limit in the next 25 minutes, but...

Mind you, if the debt had increased by a penny more at any time during that period, it would have exceeded the statutory limit and would have become a violation of the law. Treasury says that hasn't happened, however - despite the fact that, as of this writing, USDebtClock.org has the nation's debt at well above that statutory limit (in excess of $16.884 trillion).

There's more. "Even though the government's official accounting of the debt has not budged for 70 days, the Treasury has continued to sell bills, notes and bonds at a value that exceeds the value of the bills, notes and bonds it was redeeming," CNS Newsreported.

Indeed, according to the Daily Treasury Statement for May 17, the department, by then, had redeemed $4,776,995,000,000.00 since the start of the fiscal year, Oct. 1, 2012. As of that date, Treasury had already sold off $5,354,508,000.000.00 in new bills, bonds and notes so far. "That represented a net increase in publicly circulating U.S. government debt instruments of $577,513,000,000.00 for the fiscal year," CNS News said. In addition:

As of July 26, according to the latest Treasury statement, the Treasury had already redeemed approximately $6,128,368,000,000.00 in bills, notes and bonds during this fiscal year. But, at the same time, according to the statement, the Treasury had sold an additional $6,759,148,000,000.00 bills, note and bonds - for a net increase of $630,780,000,000.00 for the year.

That means the value of U.S. Treasury debt instruments in public circulation has risen by $53.267 billion since May 17, though Treasury says the debt had not budged a single penny over the same time...."



As I said, the party is alllllllll over. This is the last performance of this play and we don't plan on repeating it again, lol. I soooooo love the absolute plan!!


...... you know..... I'm having W A Y too much fun with this!

Here was the email sent by Alexander, one of the many awesome supporters of this blog. I'm including his email signature as well because I LOVE his Dr. Seuss quote!:

Hi, Brian, thought you and AK and the rest might be interested in this ‘unprecedented’ move by the uber-bank HSBC that has caused ‘havoc’ among the diplomatic missions in the UK: http://www.bbc.co.uk/news/uk-23565506 More evidence that the Grand Changeover IS REALLY HAPPENING, no?

Alexander

“You have brains in your head. You have feet in your shoes. You can steer yourself any direction you choose. You’re on your own. And you know what you know. And YOU are the one who’ll decide where to go…” -- Dr Seuss.

‘Row, row, row your boat, gently down the stream . . . .’

http://www.bbc.co.uk/news/uk-23565506

'Havoc' as HSBC prepares to close diplomatic accounts

The honorary consul of Benin said his mission had been having trouble finding a new bank

HSBC bank has reportedly asked more than 40 diplomatic missions to close their accounts as part of a programme to reduce business risks.

The Vatican's ambassadorial office in Britain, the Apostolic Nunciature, is among those said to be affected.

The head of the UK's Consular Corps told the Mail on Sunday the decision has created "havoc".

The Foreign Office has been in touch with HSBC, stepping in to help diplomats open other bank accounts.

HSBC said embassies were subject to the same assessments as its other business customers. They need to satisfy five criteria - international connectivity, economic development, profitability, cost efficiency and liquidity.

A spokesman said: "HSBC has been applying a rolling programme of "five filter" assessments to all its businesses since May 2011, and our services for embassies are no exception.

"We do not comment on individual customer relationships."

The Mail on Sunday reported that the High Commission of Papua New Guinea and the Honorary Consulate of Benin have also been asked to move their accounts within 60 days.

Bernard Silver, head of the Consular Corps, which represents consuls in the UK, told the paper: "HSBC's decision has created havoc.

"Embassies and consulates desperately need a bank, not just to take in money for visas and passports but to pay staff wages, rent bills, even the congestion charge."

John Belavu, minister at the Papua New Guinea High Commission, said: "We've been banking with HSBC for 22 years and for them to throw us off in this way was a bombshell."

Lawrence Landau, honorary consul of Benin, told the paper his mission had been having trouble finding a new bank.

He said: "We have been trying everyone but all the UK banks are clamming up."Suspicious accounts

Embassies are treated like business customers by banks as they generally use services like cash and payroll management and can take out loans.

They also have to pay for ambassadorial accommodation and costs such as school fees for the children of diplomats - expenses that are difficult to meet without a valid UK bank account.

They are sometimes considered to be at risk of money laundering activities because of their political exposure and banks have been warned in the past for failing to flag up suspicious accounts.

The Riggs National Bank in Washington was fined and later sold off after a 2004 US Senate report revealed executives in its embassy business had helped Chilean dictator Augusto Pinochet hide millions of dollars.

HSBC was fined $1.92bn (£1.26bn) by US authorities last year after it was blamed for alleged money laundering activities said to have been conducted through its Latin American operations by drug cartels.

The bank admitted at the time that it had failed to effectively counter money laundering.

RTS: Looky Looky What HSBC Owns!!!

http://removingtheshackles.blogspot.com/

Thursday, 1 August 2013

Looky Looky what HSBC owns!!!

This lovely bit of information came to me by way of a little birdy flying on by.   This is a list of some of the companies that HSBC owns- not all, because even more are hidden behind other ghost corporations and shells, and there are those companies that are owned by these companies listed below, and the joint ventures between these companies with other shell corporations.....  I will say that I find it quite interesting that the USA list is divided into USA (Delaware) and USA (Not Delaware)..... don't you find that interesting?

But you know what's W A Y  more interesting?  If you scroll down to the very very bottom of the page, you'll see that the last "Subsidiary Name" is listed under Viet Nam, shows 100% "percentage held" by HSBC..... and it's S.W.I.F.T.  Now.... anyone who knows banking, anyone who knows finance at all, knows S.W.I.F.T.

SWIFT (Society for Worldwide Interbank Financial Telecommunication)provides a network that enables financial institutions worldwide to send and receive information about financial transactions in a secure, standardized and reliable environment. Swift also sells software and services to financial institutions, much of it for use on the SWIFTNet Network, and ISO 9362. Business Identifier Codes (BICs) are popularly known as "SWIFT codes".

Basically- SWIFT codes move ALLLL the money allllll over the world.

...and HSBC owns it.   Nifty eh?

If you want to have some fun, pick a couple of these purported "companies" and so do a little searching.  I've only spent about 30 minutes and I've already spotted at least 5 different "shell" corporations. Have Fun!!! :>D

I had to adjust the cells of the spread sheet so that I could fit them all onto the page - sorry the info is a bit squished, LOL!  (I've readjusted the table and sorted by percent held and jurisdiction.  Note percent held indicates the amount of direct ownership of the subsidiary, secrecy score 0=transparent 100=opaque -AK)

Subsidiary Name	Percent Held	Jurisdiction	Secrecy Score
HEXAGO INVERSIONES ARGENTINA S.A.	100	Argentina (AR)	0
HSBC ARGENTINA HOLDINGS S.A.	100	Argentina (AR)	0
HSBC BANK ARGENTINA S.A.	100	Argentina (AR)	0
HSBC LA BUENOS AIRES SEGUROS S.A.	100	Argentina (AR)	0
MBI SA	100	Argentina (AR)	0
MW GESTION SA	100	Argentina (AR)	0
HSBC CHACABUCO INVERSIONES	99	Argentina (AR)	0
HSBC SERVICIOS FINANCIEROS	97	Argentina (AR)	0
UNISERVICIOS S.A.	97	Argentina (AR)	0
HSBC NEW YORK LIFE SEGUROS DE RETIRO	60	Argentina (AR)	0
HSBC NEW YORK LIFE SEGUROS DE VIDA	60	Argentina (AR)	0
MAXIMA S.A. AFJP	60	Argentina (AR)	0
HSBC ADMINISTRADORA DE INVERSIONES S.A.	56	Argentina (AR)	0
HSBC VALORES S.A. SOCIEDAD DE BOLSA	2	Argentina (AR)	0
HSBC PARTICIPACIONES	1	Argentina (AR)	0
HSBC BANK ARMENIA CJSC	68	Armenia (AM)	0
ACRA CREDIT REPORTING CJSC	3	Armenia (AM)	0
ARMENIAN CARD CJSC	1	Armenia (AM)	0
ACN 087 652 113 PTY LIMITED	100	Australia (AU)	0
HSBC AUSTRALIA HOLDINGS PTY LIMITED	100	Australia (AU)	0
HSBC BANK AUSTRALIA LIMITED	100	Australia (AU)	0
HSBC CUSTODY NOMINEES	100	Australia (AU)	0
HSBC FINANCE HOLDINGS	100	Australia (AU)	0
HSBC SECURITIES	100	Australia (AU)	0
HSBC SECURITIES INVESTMENTS	100	Australia (AU)	0
MIDLAND AUSTRALIA PTY LIMITED	100	Australia (AU)	0
HSBC GLOBAL ASSET MANAGEMENT	79	Austria (AT)	65.87
BANCO DEL ISTMO	100	Bahamas, The (BS)	82.87
CIC HOLDINGS LTD	100	Bahamas, The (BS)	82.87
CRANLEIGH INVESTMENTS LIMITED	100	Bahamas, The (BS)	82.87
EQUATOR LEASING SEVENTEEN LIMITED	100	Bahamas, The (BS)	82.87
EQUATOR LEASING TWELVE LIMITED	100	Bahamas, The (BS)	82.87
EVERLASTING INTERNATIONAL LIMITED	100	Bahamas, The (BS)	82.87
HANG SENG BANK	100	Bahamas, The (BS)	82.87
HANG SENG BANK TRUSTEE INTERNATIONAL LIMITED	100	Bahamas, The (BS)	82.87
HANG SENG CREDIT	100	Bahamas, The (BS)	82.87
HANG SENG FINANCE	100	Bahamas, The (BS)	82.87
HANG SENG INSURANCE	100	Bahamas, The (BS)	82.87
HIGHCLERE INVESTMENTS LIMITED	100	Bahamas, The (BS)	82.87
HSBC BANK BAHAMAS LIMITED	100	Bahamas, The (BS)	82.87
HSBC GLOBAL ASSET MANAGEMENT HOLDINGS	100	Bahamas, The (BS)	82.87
HSBC INTERNATIONAL	100	Bahamas, The (BS)	82.87
HSBC INTERNATIONAL TRUSTEE	100	Bahamas, The (BS)	82.87
HSBC INVESTMENTS	100	Bahamas, The (BS)	82.87
HSBC MARKETS	100	Bahamas, The (BS)	82.87
HSBC SERVICES JAPAN LIMITED	100	Bahamas, The (BS)	82.87
LLANDUDNO INVESTMENTS LIMITED	100	Bahamas, The (BS)	82.87
MICHIGAN INVESTMENTS LIMITED	100	Bahamas, The (BS)	82.87
PACIFICO CHILE LTD	100	Bahamas, The (BS)	82.87
SILVER JUBILEE LIMITED	100	Bahamas, The (BS)	82.87
SOLANDRA INVESTMENTS LIMITED	100	Bahamas, The (BS)	82.87
TAYSIDE HOLDINGS LIMITED	100	Bahamas, The (BS)	82.87
WAYHONG	100	Bahamas, The (BS)	82.87
WINNIPEG INVESTMENTS LIMITED	100	Bahamas, The (BS)	82.87
ARABIAN GULF INVESTMENTS OVERSEAS LIMITED	26	Bahamas, The (BS)	82.87
HSBC CARLISLE	100	Barbados (BB)	78.87
HSBC TRIDENT CAPITAL	100	Barbados (BB)	78.87
HSBC LEASING	100	Belgium (BE)	59.13
BANCO NOMINEES LIMITED	100	Bermuda (BM)	85.33
BANK OF BERMUDA	100	Bermuda (BM)	85.33
BERMUDA INTERNATIONAL SECURITIES LIMITED	100	Bermuda (BM)	85.33
BERMUDA TRUST COMPANY LIMITED	100	Bermuda (BM)	85.33
COMPASS NOMINEES LIMITED	100	Bermuda (BM)	85.33
COMPASS SERVICES LIMITED	100	Bermuda (BM)	85.33
GENOPORT	100	Bermuda (BM)	85.33
HSBC GLOBAL ASSET MANAGEMENT	100	Bermuda (BM)	85.33
HSBC INSTITUTIONAL TRUST SERVICES	100	Bermuda (BM)	85.33
HSBC INSURANCE	100	Bermuda (BM)	85.33
HSBC INSURANCE HOLDINGS	100	Bermuda (BM)	85.33
HSBC INSURANCE MANAGEMENT	100	Bermuda (BM)	85.33
HSBC LIFE	100	Bermuda (BM)	85.33
HSBC NOMINEE SERVICES	100	Bermuda (BM)	85.33
HSBC PRIVATE EQUITY MANAGEMENT	100	Bermuda (BM)	85.33
HSBC SECURITIES SERVICES	100	Bermuda (BM)	85.33
ICOM LIMITED	100	Bermuda (BM)	85.33
NAUTICAL NOMINEES LIMITED	100	Bermuda (BM)	85.33
SOMERS NOMINEES	100	Bermuda (BM)	85.33
THE BANK OF BERMUDA LIMITED	100	Bermuda (BM)	85.33
WOODEX LIMITED	100	Bermuda (BM)	85.33
KIRK MANAGEMENT LTD.	60	Bermuda (BM)	85.33
PROSERVE BERMUDA LIMITED	50	Bermuda (BM)	85.33
BW GROUP LIMITED	7	Bermuda (BM)	85.33
AMETISTA ADMINISTRACAO DE BENS LTDA	100	Brazil (BR)	0
BOAVENTURA ADMINISTRACAO DE BENS LTDA	100	Brazil (BR)	0
CREDIVAL PARTICIPACOES ADMINISTRACAO E ASSESSORIA LTDA	100	Brazil (BR)	0
ESTRELA GUIA ADMINISTRACAO DE BENS LTDA	100	Brazil (BR)	0
FRANCINVEST INVESTIMENTOS E PARTICIPACOES LTDA	100	Brazil (BR)	0
HSBC	100	Brazil (BR)	0
HSBC ADMINISTRACAO DE SERVICOS PARA FUNDOS DE PENSAO	100	Brazil (BR)	0
HSBC ASSISTENCIA PREVIDENCIARIA	100	Brazil (BR)	0
HSBC BANK BRASIL S.A. - BANCO MULTIPLO	100	Brazil (BR)	0
HSBC CAPITALIZACAO	100	Brazil (BR)	0
HSBC CORRETORA DE SEGUROS	100	Brazil (BR)	0
HSBC CORRETORA DE TITULOS E VALORES MOBILIARIOS S.A.	100	Brazil (BR)	0
HSBC EMPRESA DE CAPITALIZACAO	100	Brazil (BR)	0
HSBC FINANCE	100	Brazil (BR)	0
HSBC GESTÃO DE RECURSOS LTDA.	100	Brazil (BR)	0
HSBC LEASING ARRENDAMENTO MERCANTIL	100	Brazil (BR)	0
HSBC PRIVATE EQUITY LATIN AMERICA	100	Brazil (BR)	0
HSBC SEGUROS	100	Brazil (BR)	0
HSBC SERVICOS E PARTICIPACOES LTDA	100	Brazil (BR)	0
HSBC VIDA E PREVIDENCIA	100	Brazil (BR)	0
JASMIM ADMINISTRACAO DE BENS LTDA	100	Brazil (BR)	0
LIRIO ADMINISTRACAO DE BENS LTDA	100	Brazil (BR)	0
LOSANGO PROMOCOES DE VENDAS LTDA.	100	Brazil (BR)	0
MONTE ALEGRE ADMINISTRACAO DE BENS LTDA	100	Brazil (BR)	0
SERRA AZUL ADMINISTRACAO DE BENS LTDA	100	Brazil (BR)	0
VALEU COMPANHIA SECURITIZADORA DE CREDITOS FINANCEIROS	100	Brazil (BR)	0
HSBC SOFTWARE DEVELOPMENT	86	Brazil (BR)	0
TECNOLOGIA BANCARIA S A	10	Brazil (BR)	0
SERASA - SA	7	Brazil (BR)	0
INSTITUTO HSBC SOLIDARIEDADE	1	Brazil (BR)	0
CARIBBEAN REINSURANCE	100	British Virgin Islands (VG)	81.4
CASNAM LIMITED	100	British Virgin Islands (VG)	81.4
CASTLEGUARD PROPERTIES INC	100	British Virgin Islands (VG)	81.4
CORHOLD LIMITED	100	British Virgin Islands (VG)	81.4
EQUINOM SECURITIES INC.	100	British Virgin Islands (VG)	81.4
ETON MANAGEMENT LIMITED	100	British Virgin Islands (VG)	81.4
FIRST CORPORATE DIRECTOR INC.	100	British Virgin Islands (VG)	81.4
GZ CORPORATE SERVICES LTD	100	British Virgin Islands (VG)	81.4
GZ MANAGEMENT SERVICES LTD	100	British Virgin Islands (VG)	81.4
GZ TRUST CORPORATION	100	British Virgin Islands (VG)	81.4
HSBC FAMILY OFFICE SERVICES LIMITED	100	British Virgin Islands (VG)	81.4
HSBC FAMILY TAX STRATEGIES	100	British Virgin Islands (VG)	81.4
HSBC INSTITUTIONAL TRUST SERVICES	100	British Virgin Islands (VG)	81.4
HSBC INTERNATIONAL TRUSTEE	100	British Virgin Islands (VG)	81.4
HSBC INTERNATIONAL TRUSTEE LIMITED	100	British Virgin Islands (VG)	81.4
HSBC PRIVATE EQUITY MANAGEMENT	100	British Virgin Islands (VG)	81.4
HSBC PRIVATE EQUITY MIDDLE EAST LIMITED	100	British Virgin Islands (VG)	81.4
HSBC PRIVATE EQUITY MIDDLE EAST MANAGEMENT LIMITED	100	British Virgin Islands (VG)	81.4
HSBC SECURITIES ASIA INTERNATIONAL NOMINEES LIMITED	100	British Virgin Islands (VG)	81.4
HSBC TRUST COMPANY	100	British Virgin Islands (VG)	81.4
HSBC VENTURE INVESTMENT	100	British Virgin Islands (VG)	81.4
LION INTERNATIONAL CORPORATE SERVICES LIMITED	100	British Virgin Islands (VG)	81.4
LION INTERNATIONAL MANAGEMENT LIMITED	100	British Virgin Islands (VG)	81.4
MARVEL POINT INVESTMENTS LIMITED	100	British Virgin Islands (VG)	81.4
NOMIHOLD SECURITIES INC.	100	British Virgin Islands (VG)	81.4
PRIVATE EQUITY MANAGEMENT BVI 2 LIMITED	100	British Virgin Islands (VG)	81.4
PRIVATE EQUITY MANAGEMENT BVI LIMITED	100	British Virgin Islands (VG)	81.4
SECOND CORPORATE DIRECTOR INC.	100	British Virgin Islands (VG)	81.4
SICO LIMITED	100	British Virgin Islands (VG)	81.4
SPARX GLOBAL MARKETS LTD.	100	British Virgin Islands (VG)	81.4
TORCH INVESTMENT	100	British Virgin Islands (VG)	81.4
MAGNIFICENT STALLION INVESTMENTS LIMITED	33	British Virgin Islands (VG)	81.4
HSBC FINANCE	100	Brunei Darussalam (BN)	84.13
HSBC SECURITIES	100	Brunei Darussalam (BN)	84.13
HOUSEHOLD TRUST COMPANY	100	Canada (CA)	56.27
HSBC BANK CANADA	100	Canada (CA)	56.27
HSBC CAPITAL	100	Canada (CA)	56.27
HSBC CAPITAL 2005 INC.	100	Canada (CA)	56.27
HSBC CAPITAL A.C.I. GP INC.	100	Canada (CA)	56.27
HSBC CAPITAL ALLIED GP INC.	100	Canada (CA)	56.27
HSBC CAPITAL BOS GP INC.	100	Canada (CA)	56.27
HSBC CAPITAL CANADA FUND	100	Canada (CA)	56.27
HSBC CAPITAL CANADA PEF 2005	100	Canada (CA)	56.27
HSBC CAPITAL JAG GP INC.	100	Canada (CA)	56.27
HSBC CAPITAL NUHEAT GP INC.	100	Canada (CA)	56.27
HSBC CAPITAL RAIL GP INC.	100	Canada (CA)	56.27
HSBC CAPITAL SERVICES INC.	100	Canada (CA)	56.27
HSBC FINANCE CORPORATION CANADA	100	Canada (CA)	56.27
HSBC FINANCE MORTGAGES INC.	100	Canada (CA)	56.27
HSBC FINANCIAL CORPORATION LIMITED	100	Canada (CA)	56.27
HSBC GLOBAL ASSET MANAGEMENT	100	Canada (CA)	56.27
HSBC INSURANCE AGENCY	100	Canada (CA)	56.27
HSBC INVESTMENT FUNDS	100	Canada (CA)	56.27
HSBC LOAN CORPORATION	100	Canada (CA)	56.27
HSBC MORTGAGE CORPORATION	100	Canada (CA)	56.27
HSBC RETAIL SERVICES LIMITED	100	Canada (CA)	56.27
HSBC SECURITIES	100	Canada (CA)	56.27
HSBC TRUST COMPANY	100	Canada (CA)	56.27
JAMES CAPEL CANADA HOLDINGS INC.	100	Canada (CA)	56.27
PEF 2005 A.C.I. INVESTMENT LIMITED PARTNERSHIP	100	Canada (CA)	56.27
PEF 2005 ALLIED INVESTMENT LIMITED PARTNERSHIP	100	Canada (CA)	56.27
PEF 2005 NUHEAT INVESTMENT LIMITED PARTNERSHIP	100	Canada (CA)	56.27
PEF 2005 RAIL INVESTMENT LIMITED PARTNERSHIP	100	Canada (CA)	56.27
TRINKAUS CANADA 1 GP LTD.	79	Canada (CA)	56.27
PEF 2005 JUMP INVESTMENT LIMITED PARTNERSHIP	74	Canada (CA)	56.27
ENCORE COILS INC.	70	Canada (CA)	56.27
ENCORE METALS INC.	70	Canada (CA)	56.27
HSBC CAPITAL ALUMICOR GP INC.	37	Canada (CA)	56.27
HSBC CAPITAL JUMP GP INC.	37	Canada (CA)	56.27
PEF 2005 ALUMICOR INVESTMENT LIMITED PARTNERSHIP	37	Canada (CA)	56.27
PEF 2005 JAG INVESTMENT LIMITED PARTNERSHIP	37	Canada (CA)	56.27
PEF2005 BOS INVESTMENT LIMITED PARTNERSHIP	36	Canada (CA)	56.27
QZINA SPECIALTY FOODS NORTH AMERICA INC.	36	Canada (CA)	56.27
ALLIED GLOBAL HOLDINGS INC.	33	Canada (CA)	56.27
ENCORE COILS LIMITED PARTNERSHIP	25	Canada (CA)	56.27
ENCORE METALS LIMITED PARTNERSHIP	25	Canada (CA)	56.27
FLOCONTROL HOLDINGS LIMITED PARTNERSHIP	21	Canada (CA)	56.27
NORTHSTAR TRADE FINANCE INC.	18	Canada (CA)	56.27
ALUMICOR LIMITED	17	Canada (CA)	56.27
JUMP.CA WIRELESS SUPPLY CORP.	11	Canada (CA)	56.27
JAG FLOCOMPONENTS LIMITED PARTNERSHIP	10	Canada (CA)	56.27
ASTLEY-GILBERT REPRODUCTIONS LIMITED	9	Canada (CA)	56.27
A & B INDUSTRIAL MANAGEMENT GROUP LTD.	7	Canada (CA)	56.27
A & B RAIL SERVICES LTD.	7	Canada (CA)	56.27
WESTERN CANADA RAIL LTD.	7	Canada (CA)	56.27
NUHEAT INDURSTRIES LIMITED	6	Canada (CA)	56.27
BOS SOLUTIONS LTD.	5	Canada (CA)	56.27
ACI BRANDS INC.	2	Canada (CA)	56.27
STAR CASE CANADA INC.	2	Canada (CA)	56.27
REDKNEE SOLUTIONS INC.	1	Canada (CA)	56.27
HSBC LION FUNDING	150	Cayman Islands (KY)	77.13
BANK OF BERMUDA	100	Cayman Islands (KY)	77.13
BERMUDA INVESTORS LIMITED	100	Cayman Islands (KY)	77.13
BERMUDA TRUST	100	Cayman Islands (KY)	77.13
CAYMAN INTERNATIONAL FINANCE LIMITED	100	Cayman Islands (KY)	77.13
CAYMAN NOMINEES LIMITED	100	Cayman Islands (KY)	77.13
COWSLIP FUNDING	100	Cayman Islands (KY)	77.13
EASTBOURNE INSURANCE COMPANY LIMITED	100	Cayman Islands (KY)	77.13
HSBC ALPHA EXCHANGE	100	Cayman Islands (KY)	77.13
HSBC ALPHA FUNDING	100	Cayman Islands (KY)	77.13
HSBC ALPHA INVESTMENTS	100	Cayman Islands (KY)	77.13
HSBC ALPHA PLUS	100	Cayman Islands (KY)	77.13
HSBC BANK	100	Cayman Islands (KY)	77.13
HSBC GUYERZELLER TRUST COMPANY	100	Cayman Islands (KY)	77.13
HSBC INSURANCE & TAKAFUL SPC LTD	100	Cayman Islands (KY)	77.13
HSBC INSURANCE SPC LIMITED	100	Cayman Islands (KY)	77.13
HSBC LIFE INSURANCE	100	Cayman Islands (KY)	77.13
HSBC NOMINEES	100	Cayman Islands (KY)	77.13
HSBC TRUSTEE	100	Cayman Islands (KY)	77.13
MIL	100	Cayman Islands (KY)	77.13
TROPICAL NOMINEES LIMITED	100	Cayman Islands (KY)	77.13
AEA INVESTORS	99	Cayman Islands (KY)	77.13
HSBC ROSE FUNDING	80	Cayman Islands (KY)	77.13
HSBC ROSE INVESTMENTS	80	Cayman Islands (KY)	77.13
HSBC KINGDOM AFRICA INVESTMENTS	50	Cayman Islands (KY)	77.13
THE HSBC TECHNOLOGY FUND LIMITED	47	Cayman Islands (KY)	77.13
THE HSBC PRIVATE EQUITY FUND 3 LIMITED	40	Cayman Islands (KY)	77.13
THE HSBC ASIAN VENTURES FUND 3 LIMITED	33	Cayman Islands (KY)	77.13
THE HSBC ASIAN VENTURES FUND 2 LIMITED	28	Cayman Islands (KY)	77.13
SHUI ON LAND LIMITED	3	Cayman Islands (KY)	77.13
HSBC BANK	100	Chile (CL)	0
HSBC INVERSIONES S.A.	100	Chile (CL)	0
BEIJING MIYUN HSBC RURAL BANK COMPANY LIMITED	100	China (CN)	0
CHONGQING DAZU HSBC RURAL BANK COMPANY LIMITED	100	China (CN)	0
CHONGQING FENGDU HSBC RURAL BANK COMPANY LIMITED	100	China (CN)	0
DALIAN PULANDIAN HSBC RURAL BANK COMPANY LIMITED	100	China (CN)	0
FUJIAN YONGAN HSBC RURAL BANK COMPANY LIMITED	100	China (CN)	0
GUANGDONG ENPING HSBC RURAL BANK COMPANY LIMITED	100	China (CN)	0
HANG SENG BANK	100	China (CN)	0
HSBC BANK	100	China (CN)	0
HSBC ELECTRONIC DATA PROCESSING	100	China (CN)	0
HSBC SOFTWARE DEVELOPMENT	100	China (CN)	0
HSBC TECHNOLOGY & SERVICES	100	China (CN)	0
HUBEI SUIZHOU CENGDU HSBC RURAL BANK COMPANY LIMITED	100	China (CN)	0
INDUSTRIAL BANK CO. LTD.	100	China (CN)	0
HSBC LIFE INSURANCE COMPANY LIMITED	50	China (CN)	0
HSBC JINTRUST FUND MANAGEMENT COMPANY LIMITED	49	China (CN)	0
NAN HAI HOTEL LIMITED	25	China (CN)	0
BANK OF COMMUNICATIONS CO. LTD.	19	China (CN)	0
PING AN INSURANCE	17	China (CN)	0
BANK OF SHANGHAI	8	China (CN)	0
HSBC COLOMBIA S.A.	100	Colombia (CO)	0
HSBC FIDUCIARIA S.A.	99	Colombia (CO)	0
BERMUDA ASIA PACIFIC HOLDINGS LIMITED	100	Cook Islands (CK)	75.27
BERMUDA TRUST HOLDINGS	100	Cook Islands (CK)	75.27
CASTLEWOOD LIMITED	100	Cook Islands (CK)	75.27
FANSHAWE LIMITED	100	Cook Islands (CK)	75.27
HENDERSON LIMITED	100	Cook Islands (CK)	75.27
HSBC TRUSTEE	100	Cook Islands (CK)	75.27
MIL PROPERTIES	100	Cook Islands (CK)	75.27
PENRHYN SECRETARIES LIMITED	100	Cook Islands (CK)	75.27
BENEFICIAL FINANCE A.S.	100	Czech Republic (CZ)	0
HSBC INVESTMENT COMPANY	98	Egypt, Arab Rep. (EG)	0
HSBC BANK EGYPT S.A.E	95	Egypt, Arab Rep. (EG)	0
HSBC SECURITIES	95	Egypt, Arab Rep. (EG)	0
APOLLO FINANCE II	100	France (FR)	0
BYRON EQUILIBRE	100	France (FR)	0
COPARI-SOCIETE DE CONSTRUCTIONS ET DE PARTICIPATIONS IMMOBILIERES	100	France (FR)	0
DELOSFIN S.A.	100	France (FR)	0
DEM 10	100	France (FR)	0
DEM 5	100	France (FR)	0
DEM 6	100	France (FR)	0
DEM 9	100	France (FR)	0
DEMPAR 1	100	France (FR)	0
DEMPAR 2	100	France (FR)	0
DEMPAR 4	100	France (FR)	0
ELYSEES FORMATION	100	France (FR)	0
ELYSEES IMMO INVEST	100	France (FR)	0
ENERSHIP	100	France (FR)	0
ERISA IMMO 1	100	France (FR)	0
ESCOMPTE DE FRANCE S.A.	100	France (FR)	0
EUROFIN ASSURANCES	100	France (FR)	0
EUROFIN CAPITAL PARTNERS	100	France (FR)	0
FDM 1 SAS	100	France (FR)	0
FDM 2 SAS	100	France (FR)	0
FDM 3 SAS	100	France (FR)	0
FDM 4 SAS	100	France (FR)	0
FDM 5 SAS	100	France (FR)	0
FDM 6 SAS	100	France (FR)	0
FINANPAR 2	100	France (FR)	0
FINANPAR 4	100	France (FR)	0
FINANPAR 5	100	France (FR)	0
FINANPAR 6	100	France (FR)	0
FINANPAR 7	100	France (FR)	0
FLANDRES CONTENTIEUX S.A.	100	France (FR)	0
FONCIERE ELYSEES SA	100	France (FR)	0
FOREPAR	100	France (FR)	0
GAZ FINANCE	100	France (FR)	0
GIE NORTH BAIL	100	France (FR)	0
GIE VULCAIN ENERGIE	100	France (FR)	0
HALBIS CAPITAL MANAGEMENT	100	France (FR)	0
HSBC ASSURANCES IARD	100	France (FR)	0
HSBC ASSURANCES VIE	100	France (FR)	0
HSBC COVERED BONDS	100	France (FR)	0
HSBC EPARGNE ENTREPRISE	100	France (FR)	0
HSBC FACTORING	100	France (FR)	0
HSBC FRANCE	100	France (FR)	0
HSBC FRENCH OFFICES 1	100	France (FR)	0
HSBC FRENCH OFFICES 2	100	France (FR)	0
HSBC FRENCH OFFICES 3	100	France (FR)	0
HSBC FRENCH OFFICES 4	100	France (FR)	0
HSBC FRENCH OFFICES HOLDINGS	100	France (FR)	0
HSBC FRENCH OFFICES HOLDINGS 2	100	France (FR)	0
HSBC FRENCH OFFICES HOLDINGS 3	100	France (FR)	0
HSBC GLOBAL ASSET MANAGEMENT	100	France (FR)	0
HSBC LEASING	100	France (FR)	0
HSBC PRIVATE BANK FRANCE	100	France (FR)	0
HSBC PRIVATE WEALTH MANAGERS	100	France (FR)	0
HSBC REAL ESTATE LEASING	100	France (FR)	0
HSBC REIM	100	France (FR)	0
HSBC SECURITIES	100	France (FR)	0
M.M. COGENE 2	100	France (FR)	0
NEUILLY VALEURS	100	France (FR)	0
NOBEL	100	France (FR)	0
OCTOGONE IMMOBILIER	100	France (FR)	0
PROPERTY VISION FRANCE	100	France (FR)	0
REALIMO NEGOCIATIONS	100	France (FR)	0
S.A.P.C. - UFIPRO RECOUVREMENT	100	France (FR)	0
SAF BAIYUN	100	France (FR)	0
SAF BAOBAB	100	France (FR)	0
SAF CHANG JIANG	100	France (FR)	0
SAF CHANG JIANG BA	100	France (FR)	0
SAF CHANG JIANG ER	100	France (FR)	0
SAF CHANG JIANG JIU	100	France (FR)	0
SAF CHANG JIANG LIU	100	France (FR)	0
SAF CHANG JIANG QI	100	France (FR)	0
SAF CHANG JIANG SAN	100	France (FR)	0
SAF CHANG JIANG SHI	100	France (FR)	0
SAF CHANG JIANG SHI LIU	100	France (FR)	0
SAF CHANG JIANG SHI WU	100	France (FR)	0
SAF CHANG JIANG SHIER	100	France (FR)	0
SAF CHANG JIANG SHIYI	100	France (FR)	0
SAF CHANG JIANG WU	100	France (FR)	0
SAF CHANG JIANG YI	100	France (FR)	0
SAF GUANGZHOU	100	France (FR)	0
SAF PALISSANDRE	100	France (FR)	0
SAF ZHU JIANG	100	France (FR)	0
SAF ZHU JIANG BA	100	France (FR)	0
SAF ZHU JIANG ER	100	France (FR)	0
SAF ZHU JIANG JIU	100	France (FR)	0
SAF ZHU JIANG LIU	100	France (FR)	0
SAF ZHU JIANG QI	100	France (FR)	0
SAF ZHU JIANG SAN	100	France (FR)	0
SAF ZHU JIANG SHI	100	France (FR)	0
SAF ZHU JIANG SHIYI	100	France (FR)	0
SAF ZHU JIANG WU	100	France (FR)	0
SAF ZHU JIANG YI	100	France (FR)	0
SARL VICTOR HUGO-BAUDRY	100	France (FR)	0
SAS FDM 10	100	France (FR)	0
SAS FDM 7	100	France (FR)	0
SAS FDM 8	100	France (FR)	0
SAS FDM 9	100	France (FR)	0
SCI HERVET MATHURINS	100	France (FR)	0
SCI RUE JEAN BRIAUD	100	France (FR)	0
SCI VAUBAN SOLFERINO	100	France (FR)	0
SINOPIA - SOCIETE DE GESTION	100	France (FR)	0
SINOPIA ASSET MANAGEMENT	100	France (FR)	0
SINOPIA FINANCIAL SERVICES	100	France (FR)	0
SNC HOTEL PRIVILEGE	100	France (FR)	0
SNC IMMOBILIERE BAUCHART	100	France (FR)	0
SNCB/M6 - 2008 A	100	France (FR)	0
SNCB/M6-2007 A	100	France (FR)	0
SNCB/M6-2007 B	100	France (FR)	0
SOCIETE DE GESTION ET DEXPERTISE FONCIERE ET FORESTIERE - S.G.E.F.F.	100	France (FR)	0
SOCIETE DEXPANSION ECONOMIQUE ET FINANCIERE	100	France (FR)	0
SOCIETE FINANCIERE ET MOBILIERE	100	France (FR)	0
SOCIETE FRANCAISE ET SUISSE	100	France (FR)	0
SOCIETE IMMOBILIERE MALESHERBES-ANJOU	100	France (FR)	0
SOFIDOM 17	100	France (FR)	0
SOFIDOM 18 A	100	France (FR)	0
SOFIDOM 18 B	100	France (FR)	0
SOPINGEST	100	France (FR)	0
THASOSFIN	100	France (FR)	0
UNION POUR LA GESTION ET LES TRANSACTIONS - U.G.T.	100	France (FR)	0
VERNET EXPANSION	100	France (FR)	0
ELYSEES RESIDENCE 5	99	France (FR)	0
SCI NOUVELLE DU 31 AVENUE MONTAIGNE	96	France (FR)	0
SNC NUKU-HIVA BAIL	80	France (FR)	0
ELYSEES FORETS	75	France (FR)	0
SNC LES OLIVIERS DANTIBES	60	France (FR)	0
SCI LES TISSERANDS	50	France (FR)	0
VALUE FUND 2	45	France (FR)	0
FINANCIERE DUZES	34	France (FR)	0
EURO STOCK PICKING	33	France (FR)	0
SPRING RAIN	28	France (FR)	0
GIE GNIFI	25	France (FR)	0
GIE NATHALIE BAIL	25	France (FR)	0
FINANCITÉS	21	France (FR)	0
GIE EDITH BAIL 3	20	France (FR)	0
GIE EDITH BAIL 4	20	France (FR)	0
GIE NORMA	20	France (FR)	0
SCI LE CLOS DU VILLAGE	20	France (FR)	0
SCI LES REMPARTS	20	France (FR)	0
SCI VILLA BEAUCLAIR	20	France (FR)	0
DEWAL S.A.	19	France (FR)	0
SERVICES EPARGNE ENTREPRISE	18	France (FR)	0
SOC.DINV POUR LE DEVEL DE LA CONSTRUCTION SA	14	France (FR)	0
GIE LOCAD 08	13	France (FR)	0
SCI RESIDENCE CLAUS SLUTER	12	France (FR)	0
CERIP - SERVICES BANQUES	10	France (FR)	0
GIE EDITH BAIL 1	10	France (FR)	0
GIE EDITH BAIL 2	10	France (FR)	0
SCI CANNES MIDI	10	France (FR)	0
SCI LE HAMEAU DU GOLF	10	France (FR)	0
SCI LES MOULINS	10	France (FR)	0
SOCIETE FINANCIERE DU PMEI	10	France (FR)	0
SOCIETE DE FINANCEMENT DE LECONOMIE FRANCAISE	9	France (FR)	0
CONSORTIUM AUXILIAIRE DE PARTICIPATIONS	8	France (FR)	0
ANTYCIP SA	7	France (FR)	0
GIE LOCAD 07	7	France (FR)	0
BMS DEVELOPPEMENT	5	France (FR)	0
PRE-IPO INVEST	5	France (FR)	0
QUADRAL	5	France (FR)	0
SICOVAM HOLDING EX SOPARSICO	5	France (FR)	0
ELIOR SA	1	France (FR)	0
UNIPOLY SA	1	France (FR)	0
HSBC BANK GEORGIA JSC	70	Georgia (GE)	0
CCF CHARTERHOUSE GMBH	100	Germany (DE)	57.13
CCF CHARTERHOUSE GMBH & CO ASSET LEASING KG	100	Germany (DE)	57.13
DEUTSCHE BÖRSE AG	100	Germany (DE)	57.13
ELYSÉES GMBH	100	Germany (DE)	57.13
HITG ADMINISTRATION GMBH	100	Germany (DE)	57.13
HSBC GERMANY HOLDINGS GMBH	100	Germany (DE)	57.13
LIQUIDITATS-KONSORTIALBANK GMBH	100	Germany (DE)	57.13
MÜNCHENER HYPOTHEKENBANK EG	100	Germany (DE)	57.13
TRINKAUS EUROPA IMMOBILIEN-FONDS NR.10 LUXEMBURG KG	100	Germany (DE)	57.13
HSBC FUNDING	99	Germany (DE)	57.13
DPT DEUTSCHER PENSION TRUST GMBH	79	Germany (DE)	57.13
DR. HELFER VERWALTUNGSGEBÄUDE LUXEMBURG KG	79	Germany (DE)	57.13
GESELLSCHAFT FUR INDUSTRIELLE BETEILIGUNGEN UND FINANZIERUNG MBH	79	Germany (DE)	57.13
GRUNDSTÜCKSGESELLSCHAFT TRINKAUSSTRASSE KOMMANDITGESELLSCHAFT	79	Germany (DE)	57.13
HSBC GLOBAL ASSET MANAGEMENT	79	Germany (DE)	57.13
HSBC INKA INVESTMENT-AG TGV	79	Germany (DE)	57.13
HSBC TRINKAUS & BURKHARDT AG	79	Germany (DE)	57.13
HSBC TRINKAUS & BURKHARDT GESELLSCHAFT FUR BANKBETEILIGUNGEN MBH	79	Germany (DE)	57.13
HSBC TRINKAUS CONSULT GMBH	79	Germany (DE)	57.13
HSBC TRINKAUS EUROPA IMMOBILIEN-FONDS NR. 5 GMBH	79	Germany (DE)	57.13
HSBC TRINKAUS FAMILY OFFICE GMBH	79	Germany (DE)	57.13
HSBC TRINKAUS IMMOBILIEN BETEILIGUNGS KG	79	Germany (DE)	57.13
HSBC TRINKAUS PRIVATE WEALTH GMBH	79	Germany (DE)	57.13
HSBC TRINKAUS REAL ESTATE GMBH	79	Germany (DE)	57.13
INTERNATIONAL TRANSACTION SERVICES GMBH	79	Germany (DE)	57.13
INTERNATIONALE KAPITALANLAGEGESELLSCHAFT MBH	79	Germany (DE)	57.13
JOACHIM HECKER GRUNDBESITZ KG	79	Germany (DE)	57.13
T-E-I OBJEKT HANNOVER 2 KG	79	Germany (DE)	57.13
TRINKAUS AUSTRALIEN IMMOBILIEN-FONDS NR. 1 TREUHAND-GMBH	79	Germany (DE)	57.13
TRINKAUS CANADA IMMOBILIEN-FONDS NR.1 GMBH & CO. KG	79	Germany (DE)	57.13
TRINKAUS EUROPA IMMOBILIEN-FONDS NR.3 OBJEKT UTRECHT VERWALTUNGS-GMBH	79	Germany (DE)	57.13
TRINKAUS IMMOBILIEN-FONDS GESCHÄFTSFÜHRUNGS-GMBH	79	Germany (DE)	57.13
TRINKAUS IMMOBILIEN-FONDS VERWALTUNGS-GMBH	79	Germany (DE)	57.13
TRINKAUS PRIVATE EQUITY MANAGEMENT GMBH	79	Germany (DE)	57.13
TRINKAUS PRIVATE EQUITY VERWALTUNGS GMBH	79	Germany (DE)	57.13
TRINKAUS EUROPA IMMOBILIEN FONDS NR.11 DORTMUND-ESSEN KG	67	Germany (DE)	57.13
SINO AG	21	Germany (DE)	57.13
BÖRSE DÜSSELDORF AG	15	Germany (DE)	57.13
BSU VERMÖGENSVERWALTUNG UNTERNEHMENSBERATUNG GMBH	15	Germany (DE)	57.13
TRINKAUS EUROPA IMMOBILIEN-FONDS NR. 6 DÜSSELDORF KG	15	Germany (DE)	57.13
TICK TRADING SOFTWARE AG	14	Germany (DE)	57.13
DPG DEUTSCHE PERFORMANCEMESSUNGS-GESELLSCHAFT MBH	8	Germany (DE)	57.13
TRINKAUS EUROPA IMMOBILIEN-FONDS NR. 4 OBJEKTE BASEL NAUENSTRAßE KG	8	Germany (DE)	57.13
DÜSSELDORFER BÖRSENHAUS GMBH	6	Germany (DE)	57.13
GBR IHK/RHEINISCH-WESTFÄLISCHE BÖRSE	6	Germany (DE)	57.13
SEBA BETEILIGUNGSGESELLSCHAFT MBH	4	Germany (DE)	57.13
TRINKAUS EUROPA IMMOBILIEN-FONDS NR. 7 FRANKFURT MERTONVIERTEL KG	4	Germany (DE)	57.13
TRINKAUS EUROPA IMMOBILIEN-FONDS NR. 8 DORTMUND KG	4	Germany (DE)	57.13
TRINKAUS EUROPA IMMOBILIEN-FONDS NR. 9 HANNOVER 1 KG	4	Germany (DE)	57.13
HSBC NF CHINA REAL ESTATE GMBH & CO.KG	3	Germany (DE)	57.13
PARKHAUS WALDTHAUSENPARK GMBH	2	Germany (DE)	57.13
HSBC PANTELAKIS SECURITIES S.A.	93	Greece (GR)	0
HSBC	73	Greece (GR)	0
DIAS	3	Greece (GR)	0
BANCO NOMINEES	100	Guernsey (GG)	65.4
BERMUDA INTERNATIONAL	100	Guernsey (GG)	65.4
ETON CORPORATE SERVICES LIMITED	100	Guernsey (GG)	65.4
HRMG NOMINEES LIMITED	100	Guernsey (GG)	65.4
HSBC ALTERNATIVE INVESTMENTS	100	Guernsey (GG)	65.4
HSBC BANK NOMINEE	100	Guernsey (GG)	65.4
HSBC CUSTODY SERVICES	100	Guernsey (GG)	65.4
HSBC GERMAN RETAIL HOLDINGS LIMITED	100	Guernsey (GG)	65.4
HSBC GERMAN RETAIL PROPERTIES 2 LIMITED	100	Guernsey (GG)	65.4
HSBC INSURANCE MANAGEMENT	100	Guernsey (GG)	65.4
HSBC INSURANCE PCC LIMITED	100	Guernsey (GG)	65.4
HSBC INVESTMENT HOLDINGS	100	Guernsey (GG)	65.4
HSBC MANAGEMENT	100	Guernsey (GG)	65.4
HSBC PRIVATE BANK	100	Guernsey (GG)	65.4
HSBC PROPERTY FUND MANAGEMENT	100	Guernsey (GG)	65.4
HSBC REPUBLIC MANAGEMENT SERVICES	100	Guernsey (GG)	65.4
HSBC SECURITIES SERVICES	100	Guernsey (GG)	65.4
HSBC TRUSTEE	100	Guernsey (GG)	65.4
MIDLAND BANK TRUSTEE	100	Guernsey (GG)	65.4
REPUBLIC NOMINEES LIMITED	100	Guernsey (GG)	65.4
HSBC GERMAN RETAIL PROPERTIES 1 LIMITED	99	Guernsey (GG)	65.4
HSBC NF CHINA HOLDINGS LIMITED	50	Guernsey (GG)	65.4
HSBC NF CHINA INVESTORS LIMITED	50	Guernsey (GG)	65.4
BANCO HSBC HONDURAS SOCIEDAD ANONIMA	94	Honduras (HN)	0
BARROWGATE LIMITED	100	Hong Kong Sar, China (HK)	73.27
FULCHER ENTERPRISES COMPANY LIMITED	100	Hong Kong Sar, China (HK)	73.27
FULL WEALTH INVESTMENT LIMITED	100	Hong Kong Sar, China (HK)	73.27
HALBIS CAPITAL MANAGEMENT	100	Hong Kong Sar, China (HK)	73.27
HANG SENG	100	Hong Kong Sar, China (HK)	73.27
HANG SENG BANK	100	Hong Kong Sar, China (HK)	73.27
HANG SENG BANK LIMITED	100	Hong Kong Sar, China (HK)	73.27
HANG SENG BULLION COMPANY LIMITED	100	Hong Kong Sar, China (HK)	73.27
HANG SENG CREDIT LIMITED	100	Hong Kong Sar, China (HK)	73.27
HANG SENG DATA SERVICES LIMITED	100	Hong Kong Sar, China (HK)	73.27
HANG SENG FINANCE LIMITED	100	Hong Kong Sar, China (HK)	73.27
HANG SENG FINANCIAL INFORMATION LIMITED	100	Hong Kong Sar, China (HK)	73.27
HANG SENG FUTURES LIMITED	100	Hong Kong Sar, China (HK)	73.27
HANG SENG GENERAL INSURANCE	100	Hong Kong Sar, China (HK)	73.27
HANG SENG INDEXES COMPANY LIMITED	100	Hong Kong Sar, China (HK)	73.27
HANG SENG INSURANCE COMPANY LIMITED	100	Hong Kong Sar, China (HK)	73.27
HANG SENG INVESTMENT MANAGEMENT LIMITED	100	Hong Kong Sar, China (HK)	73.27
HANG SENG INVESTMENT SERVICES LIMITED	100	Hong Kong Sar, China (HK)	73.27
HANG SENG LIFE LIMITED	100	Hong Kong Sar, China (HK)	73.27
HANG SENG REAL ESTATE MANAGEMENT LIMITED	100	Hong Kong Sar, China (HK)	73.27
HANG SENG SECURITIES LIMITED	100	Hong Kong Sar, China (HK)	73.27
HANG SENG SECURITY MANAGEMENT LIMITED	100	Hong Kong Sar, China (HK)	73.27
HASEBA INVESTMENT COMPANY LIMITED	100	Hong Kong Sar, China (HK)	73.27
HAYDEN LAKE LIMITED	100	Hong Kong Sar, China (HK)	73.27
HIGH TIME INVESTMENTS LIMITED	100	Hong Kong Sar, China (HK)	73.27
HSBC ASIAN VENTURES ADVISERS LIMITED	100	Hong Kong Sar, China (HK)	73.27
HSBC BROKING	100	Hong Kong Sar, China (HK)	73.27
HSBC BROKING FOREX	100	Hong Kong Sar, China (HK)	73.27
HSBC BROKING FUTURES	100	Hong Kong Sar, China (HK)	73.27
HSBC BROKING SECURITIES	100	Hong Kong Sar, China (HK)	73.27
HSBC BROKING SERVICES	100	Hong Kong Sar, China (HK)	73.27
HSBC CAPITAL LIMITED	100	Hong Kong Sar, China (HK)	73.27
HSBC FINANCE ASIA LIMITED	100	Hong Kong Sar, China (HK)	73.27
HSBC FUTURES HONG KONG LIMITED	100	Hong Kong Sar, China (HK)	73.27
HSBC GLOBAL ASSET MANAGEMENT	100	Hong Kong Sar, China (HK)	73.27
HSBC GLOBAL FUND SERVICES LIMITED	100	Hong Kong Sar, China (HK)	73.27
HSBC GUYERZELLER FAR EAST LIMITED	100	Hong Kong Sar, China (HK)	73.27
HSBC INSTITUTIONAL TRUST SERVICES	100	Hong Kong Sar, China (HK)	73.27
HSBC INSURANCE	100	Hong Kong Sar, China (HK)	73.27
HSBC INSURANCE BROKERS	100	Hong Kong Sar, China (HK)	73.27
HSBC INVESTMENT ASIA HOLDINGS LIMITED	100	Hong Kong Sar, China (HK)	73.27
HSBC INVESTMENT BANK ASIA LIMITED	100	Hong Kong Sar, China (HK)	73.27
HSBC INVESTMENT FUNDS	100	Hong Kong Sar, China (HK)	73.27
HSBC LEASING	100	Hong Kong Sar, China (HK)	73.27
HSBC NOMINEES	100	Hong Kong Sar, China (HK)	73.27
HSBC PRIVATE EQUITY	100	Hong Kong Sar, China (HK)	73.27
HSBC PRIVATE TRUSTEE	100	Hong Kong Sar, China (HK)	73.27
HSBC PROVIDENT FUND TRUSTEE	100	Hong Kong Sar, China (HK)	73.27
HSBC SECURITIES	100	Hong Kong Sar, China (HK)	73.27
HSBC SECURITIES BROKERS	100	Hong Kong Sar, China (HK)	73.27
HSBC SECURITIES INVESTMENTS	100	Hong Kong Sar, China (HK)	73.27
HSBC STRUCTURED FUNDS	100	Hong Kong Sar, China (HK)	73.27
HSBC TRUSTEE	100	Hong Kong Sar, China (HK)	73.27
HSI INTERNATIONAL LIMITED	100	Hong Kong Sar, China (HK)	73.27
IMENSON LIMITED	100	Hong Kong Sar, China (HK)	73.27
LION CORPORATE SERVICES LIMITED	100	Hong Kong Sar, China (HK)	73.27
LION MANAGEMENT	100	Hong Kong Sar, China (HK)	73.27
MEGA GAIN RESOURCES LIMITED	100	Hong Kong Sar, China (HK)	73.27
MIGHTYWAY INVESTMENTS LIMITED	100	Hong Kong Sar, China (HK)	73.27
REPUBLIC BULLION	100	Hong Kong Sar, China (HK)	73.27
SINOPIA ASSET MANAGEMENT	100	Hong Kong Sar, China (HK)	73.27
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED	100	Hong Kong Sar, China (HK)	73.27
THE SINCERE INSURANCE & INVESTMENT COMPANY LIMITED	100	Hong Kong Sar, China (HK)	73.27
THE SINCERE LIFE ASSURANCE COMPANY LIMITED	100	Hong Kong Sar, China (HK)	73.27
TIAN TECK LAND LIMITED	100	Hong Kong Sar, China (HK)	73.27
WARDLEY LIMITED	100	Hong Kong Sar, China (HK)	73.27
WAYFOONG CREDIT LIMITED	100	Hong Kong Sar, China (HK)	73.27
WAYFOONG FINANCE LIMITED	100	Hong Kong Sar, China (HK)	73.27
WAYFOONG NOMINEES LIMITED	100	Hong Kong Sar, China (HK)	73.27
WTL LIMITED	100	Hong Kong Sar, China (HK)	73.27
YAN NIN DEVELOPMENT COMPANY LIMITED	100	Hong Kong Sar, China (HK)	73.27
BEAU SOLEIL LIMITED	85	Hong Kong Sar, China (HK)	73.27
HSBC TRINKAUS INVESTMENT MANAGEMENT LIMITED	79	Hong Kong Sar, China (HK)	73.27
HSBC BROKING NOMINEES	50	Hong Kong Sar, China (HK)	73.27
HSBC MARKETS	50	Hong Kong Sar, China (HK)	73.27
HSBC NF INVESTMENT ADVISERS LIMITED	50	Hong Kong Sar, China (HK)	73.27
LYNDHOLME LIMITED	50	Hong Kong Sar, China (HK)	73.27
WAY CHONG FINANCE LIMITED	50	Hong Kong Sar, China (HK)	73.27
GLOBAL PAYMENTS ASIA-PACIFIC LIMITED	44	Hong Kong Sar, China (HK)	73.27
BTHK PROPERTY MANAGEMENT LIMITED	35	Hong Kong Sar, China (HK)	73.27
EPS COMPANY	35	Hong Kong Sar, China (HK)	73.27
AGIFEL INTERNATIONAL LIMITED	33	Hong Kong Sar, China (HK)	73.27
ARABIAN GULF INVESTMENTS	33	Hong Kong Sar, China (HK)	73.27
HSBC SECURITIES ASIA NOMINEES LIMITED	25	Hong Kong Sar, China (HK)	73.27
ELECTRONIC PAYMENT SERVICES COMPANY	18	Hong Kong Sar, China (HK)	73.27
THE DEBT MANAGEMENT COMPANY LIMITED	17	Hong Kong Sar, China (HK)	73.27
HONG KONG NOTE PRINTING LIMITED	10	Hong Kong Sar, China (HK)	73.27
TRADELINK ELECTRONIC COMMERCE LIMITED	8	Hong Kong Sar, China (HK)	73.27
TRANSUNION LIMITED	6	Hong Kong Sar, China (HK)	73.27
BUSINESS ENVIRONMENT COUNCIL LIMITED	4	Hong Kong Sar, China (HK)	73.27
BRITCHAM PROPERTY LIMITED	3	Hong Kong Sar, China (HK)	73.27
HSBC CREDIT FINANCIAL SERVICES PRIVATE LIMITED COMPANY	100	Hungary (HU)	47.47
HSBC AGENCY	100	India (IN)	52.8
HSBC ASSET MANAGEMENT	100	India (IN)	52.8
HSBC ELECTRONIC DATA PROCESSING	100	India (IN)	52.8
HSBC FINANCIAL HOLDINGS	100	India (IN)	52.8
HSBC OPERATIONS AND PROCESSING ENTERPRISE	100	India (IN)	52.8
HSBC PRAGATI FINANCE	100	India (IN)	52.8
HSBC PRIVATE EQUITY ADVISORS	100	India (IN)	52.8
HSBC PROFESSIONAL SERVICES	100	India (IN)	52.8
HSBC SECURITIES AND CAPITAL MARKETS	100	India (IN)	52.8
HSBC SOFTWARE DEVELOPMENT	100	India (IN)	52.8
HSBC CONSUMER SERVICES	99	India (IN)	52.8
HSBC INVESTDIRECT SECURITIES	94	India (IN)	52.8
HSBC INVESTDIRECT	93	India (IN)	52.8
HSBC INVESTDIRECT ACADEMY FOR INSURANCE AND FINANCE	93	India (IN)	52.8
INVESTSMART FINANCIAL SERVICES LIMITED	93	India (IN)	52.8
HSBC INVESTDIRECT SALES & MARKETING	42	India (IN)	52.8
CANARA HSBC ORIENTAL BANK OF COMMERCE LIFE INSURANCE COMPANY LIMITED	26	India (IN)	52.8
AXIS BANK	5	India (IN)	52.8
CREDIT INFORMATION BUREAU	5	India (IN)	52.8
NATIONAL SECURITIES DEPOSITORY LIMITED	3	India (IN)	52.8
AGRICULTURAL FINANCE CORPORATION LIMITED	1	India (IN)	52.8
PT BANK EKONOMI RAHARJA TBK	99	Indonesia (ID)	0
PT HSBC SECURITIES INDONESIA	85	Indonesia (ID)	0
PT KUSTODIAN SENTRAL EFEK INDONESIA	6	Indonesia (ID)	0
DAR ES SALAAM INVESTMENT BANK	70	Iraq (IQ)	0
BFC INSURANCE	100	Ireland (IE)	44
BFC INSURANCE LIMITED	100	Ireland (IE)	44
BFC IRELAND	100	Ireland (IE)	44
BFC PENSION PLAN	100	Ireland (IE)	44
BFC REINSURANCE LIMITED	100	Ireland (IE)	44
DUBLIN SELF STORAGE LIMITED	100	Ireland (IE)	44
EUROPEAN RAIL FINANCE HOLDINGS LIMITED	100	Ireland (IE)	44
EUROPEAN RAIL FINANCE LIMITED	100	Ireland (IE)	44
HFC FINANCIAL SERVICES HOLDINGS	100	Ireland (IE)	44
HFC PENSION PLAN	100	Ireland (IE)	44
HSBC FUND ADMINISTRATION	100	Ireland (IE)	44
HSBC GLOBAL INVESTOR SERVICES	100	Ireland (IE)	44
HSBC INSTITUTIONAL TRUST SERVICES	100	Ireland (IE)	44
HSBC INSURANCE	100	Ireland (IE)	44
HSBC IRELAND	100	Ireland (IE)	44
HSBC LIFE	100	Ireland (IE)	44
HSBC PENSION TRUST	100	Ireland (IE)	44
HSBC REINSURANCE LIMITED	100	Ireland (IE)	44
HSBC SECURITIES SERVICES	100	Ireland (IE)	44
HSBC SECURITIES SERVICES HOLDINGS	100	Ireland (IE)	44
HSIL PROPERTIES	100	Ireland (IE)	44
SOMERS DUBLIN LIMITED	100	Ireland (IE)	44
TERVISO LIMITED	100	Ireland (IE)	44
U-STORE-IT	100	Ireland (IE)	44
U-STORE-IT LIMITED	100	Ireland (IE)	44
BOBIOM LIMITED	100	Isle Of Man (IM)	64.93
ERIN FUND MANAGEMENT	100	Isle Of Man (IM)	64.93
HSBC CUSTODY SERVICES	100	Isle Of Man (IM)	64.93
HSBC SECRETARIAL SERVICES	100	Isle Of Man (IM)	64.93
HSBC SECURITIES SERVICES	100	Isle Of Man (IM)	64.93
HSBC TRUSTEE	100	Isle Of Man (IM)	64.93
SOMERS NOMINEES	50	Isle Of Man (IM)	64.93
VAULTEX ISLE OF MAN INSURANCE LIMITED	50	Isle Of Man (IM)	64.93
HSBC GLOBAL ASSET MANAGEMENT	100	Japan (JP)	64.2
ALLBLACK INVESTMENTS LIMITED	100	Jersey (JE)	78.47
BERMUDA TRUST	100	Jersey (JE)	78.47
BERMUDA TRUST EXECUTORS	100	Jersey (JE)	78.47
CHINNERY LIMITED	100	Jersey (JE)	78.47
HOUSEHOLD	100	Jersey (JE)	78.47
HSBC	100	Jersey (JE)	78.47
HSBC BANK	100	Jersey (JE)	78.47
HSBC BANK INTERNATIONAL LIMITED	100	Jersey (JE)	78.47
HSBC BANK MIDDLE EAST LIMITED	100	Jersey (JE)	78.47
HSBC BANK NOMINEE	100	Jersey (JE)	78.47
HSBC FUND ADMINISTRATION	100	Jersey (JE)	78.47
HSBC FUNDS NOMINEE	100	Jersey (JE)	78.47
HSBC GLOBAL ASSET MANAGEMENT	100	Jersey (JE)	78.47
HSBC INTERNATIONAL HOLDINGS	100	Jersey (JE)	78.47
HSBC PB CORPORATE SERVICES 1 LIMITED	100	Jersey (JE)	78.47
HSBC PB CORPORATE SERVICES 2 LIMITED	100	Jersey (JE)	78.47
HSBC PENSIONS	100	Jersey (JE)	78.47
HSBC PRECISION TRADING LIMITED	100	Jersey (JE)	78.47
HSBC PRIVATE BANKING NOMINEE 1	100	Jersey (JE)	78.47
HSBC PRIVATE BANKING NOMINEE 2	100	Jersey (JE)	78.47
HSBC PRIVATE BANKING NOMINEE 3	100	Jersey (JE)	78.47
HSBC TRUSTEE	100	Jersey (JE)	78.47
JAMES CAPEL	100	Jersey (JE)	78.47
LEMASCO NOMINEES LIMITED	100	Jersey (JE)	78.47
MIL	100	Jersey (JE)	78.47
PYDAR CENTRE LIMITED	100	Jersey (JE)	78.47
SAMADA LIMITED	100	Jersey (JE)	78.47
CHARTERHOUSE BUY-OUT FUND INVESTMENT ADVISERS LIMITED	98	Jersey (JE)	78.47
BACB	74	Jersey (JE)	78.47
OBAN INVESTMENTS LIMITED	9	Jersey (JE)	78.47
CMH JERSEY LIMITED	4	Jersey (JE)	78.47
JOINT STOCK COMPANY HSBC SECURITIES KAZAKHSTAN	100	Kazakhstan (KZ)	0
SB HSBC BANK KAZAKHSTAN JSC	100	Kazakhstan (KZ)	0
HSBC FUND SERVICES	93	Korea, Rep. (KR)	53.73
HANA HSBC LIFE INSURANCE CO. LTD.	50	Korea, Rep. (KR)	53.73
BANQUE DE LHABITAT SAL	100	Lebanon (LB)	82.2
CCF HOLDING	100	Lebanon (LB)	82.2
HSBC FINANCIAL SERVICES	100	Lebanon (LB)	82.2
SOCIETE CCF FINANCE MOYEN-ORIENT S.A.L.	100	Lebanon (LB)	82.2
SOCIETE FINANCIERE DU LIBAN SAL BEIRUT	2	Lebanon (LB)	82.2
GUYMONT SERVICES SA	100	Liechtenstein (LI)	81
HSBC EUROPEAN INFRASTRUCTURE INVESTMENTS 3 SARL	100	Luxembourg (LU)	68.33
HSBC HOLDINGS LUXEMBOURG S.A.	100	Luxembourg (LU)	68.33
HSBC INVESTMENT FUNDS	100	Luxembourg (LU)	68.33
HSBC PARTICIPATIONS	100	Luxembourg (LU)	68.33
HSBC PRIVATE BANK	100	Luxembourg (LU)	68.33
HSBC PRIVATE BANK MANAGEMENT SERVICES	100	Luxembourg (LU)	68.33
HSBC PROPERTY INVESTMENT	100	Luxembourg (LU)	68.33
HSBC PROPERTY INVESTMENTS LUXEMBOURG	100	Luxembourg (LU)	68.33
HSBC SECURITIES SERVICES	100	Luxembourg (LU)	68.33
LGI	100	Luxembourg (LU)	68.33
MANAGEMENT INTERNATIONAL	100	Luxembourg (LU)	68.33
HSBC TRINKAUS & BURKHARDT	79	Luxembourg (LU)	68.33
HSBC TRINKAUS INVESTMENT MANAGERS S.A.	79	Luxembourg (LU)	68.33
COMPAGNIE FINANCIERE DE LA PORTE NEUVE S.A.	18	Luxembourg (LU)	68.33
LUEN FUNG HANG INSURANCE COMPANY LIMITED	100	Macao Sar, China (MO)	83.33
HSBC	100	Malaysia (MY)	77.13
HSBC AMANAH MALAYSIA BERHAD	100	Malaysia (MY)	77.13
HSBC BANK MALAYSIA BERHAD	100	Malaysia (MY)	77.13
HSBC ELECTRONIC DATA PROCESSING	100	Malaysia (MY)	77.13
HSBC NOMINEES	100	Malaysia (MY)	77.13
HSBC SALES & SERVICES MALAYSIA SDN BHD	100	Malaysia (MY)	77.13
HSBC CORPORATE ADVISORY	70	Malaysia (MY)	77.13
HSBC AMANAH TAKAFUL	49	Malaysia (MY)	77.13
ABM-MCD HOLDINGS SDN BHD	5	Malaysia (MY)	77.13
CAGAMAS BERHAD	4	Malaysia (MY)	77.13
RATING AGENCY MALAYSIA BERHAD	4	Malaysia (MY)	77.13
AFC HOLDINGS	2	Malaysia (MY)	77.13
CREDIT GUARANTEE CORPORATION MALAYSIA BERHAD	1	Malaysia (MY)	77.13
GLOBAL MARITIME VENTURES BERHAD	1	Malaysia (MY)	77.13
HSBC INSURANCE MANAGEMENT	100	Malta (MT)	47.73
HSBC INTERNATIONAL FINANCIAL ADVISERS	100	Malta (MT)	47.73
HSBC BANK MALTA P.L.C.	68	Malta (MT)	47.73
HSBC GLOBAL ASSET MANAGEMENT	68	Malta (MT)	47.73
HSBC LIFE ASSURANCE	68	Malta (MT)	47.73
HSBC SECURITIES SERVICES	68	Malta (MT)	47.73
HSBC STOCKBROKERS	68	Malta (MT)	47.73
HSBC BANK	100	Mauritius (MU)	73.93
HSBC DAISY INVESTMENTS	100	Mauritius (MU)	73.93
HSBC INSTITUTIONAL TRUST SERVICES	100	Mauritius (MU)	73.93
HSBC IRIS INVESTMENTS	100	Mauritius (MU)	73.93
HSBC PRIVATE EQUITY MANAGEMENT	100	Mauritius (MU)	73.93
HSBC TRUSTEE	100	Mauritius (MU)	73.93
HSBC VIOLET INVESTMENTS	100	Mauritius (MU)	73.93
HSI	100	Mauritius (MU)	73.93
EDIFICACIONES PRIME S.A. DE C.V.	100	Mexico (MX)	0
EL NUEVO PARIS S.A. DE C.V.	100	Mexico (MX)	0
GRUPO FINANCIERO HSBC S. A. DE C. V.	100	Mexico (MX)	0
HSBC AFORE S.A. DE C.V. GRUPO FINANCIERO HSBC	100	Mexico (MX)	0
HSBC CASA DE BOLSA S.A. DE C.V. GRUPO FINANCIERO HSBC	100	Mexico (MX)	0
HSBC FONDO 1 S.A. DE C.V. SOCIEDAD DE INVERSION DE RENTA VARIABLE	100	Mexico (MX)	0
HSBC FONDO 2 S.A. DE C.V. SOCIEDAD DE INVERSION DE RENTA VARIABLE	100	Mexico (MX)	0
HSBC FONDO 3 S.A. DE C.V. SOCIEDAD DE INVERSION DE RENTA VARIABLE	100	Mexico (MX)	0
HSBC FONDO 4 S.A. DE C.V. SOCIEDAD DE INVERSION DE RENTA VARIABLE	100	Mexico (MX)	0
HSBC FONDO 5 S.A. DE C.V. SOCIEDAD DE INVERSION DE RENTA VARIABLE	100	Mexico (MX)	0
HSBC FONDO 6 S.A. DE C.V. SOCIEDAD DE INVERSION DE RENTA VARIABLE	100	Mexico (MX)	0
HSBC FONDO GLOBAL 1 S.A. DE C.V. SOCIEDAD DE INVERSION DE RENTA VARIABLE	100	Mexico (MX)	0
HSBC GLOBAL ASSET MANAGEMENT	100	Mexico (MX)	0
HSBC INMOBILIARIA	100	Mexico (MX)	0
HSBC MEXICO S.A. INSTITUCION DE BANCA MULTIPLE GRUPO FINANCIERO HSBC	100	Mexico (MX)	0
HSBC PENSIONES S.A.	100	Mexico (MX)	0
HSBC SEGUROS S.A DE C.V. GRUPO FINANCIERO HSBC	100	Mexico (MX)	0
HSBC SERVICIOS FINANCIEROS S.A. DE C.V	100	Mexico (MX)	0
HSBC SERVICIOS S.A. DE C.V. GRUPO FINANCIERO HSBC	100	Mexico (MX)	0
HSBC VIDA S.A. DE C.V	100	Mexico (MX)	0
HSBC-B1 SIEFORE S.A. DE C. V.	100	Mexico (MX)	0
HSBC-B2 SIEFORE S.A. DE C. V.	100	Mexico (MX)	0
HSBC-B3 SIEFORE S.A. DE C.V.	100	Mexico (MX)	0
HSBC-B4 SIEFORE S.A. DE C.V.	100	Mexico (MX)	0
HSBC-B5 SIEFORE S.A. DE C.V.	100	Mexico (MX)	0
HSBC-D1 S.A. DE C.V. SOCIEDAD DE INVERSION EN INSTRUMENTOS DE DEUDA	100	Mexico (MX)	0
HSBC-D2 S.A. DE C.V. SOCIEDAD DE INVERSION EN INSTRUMENTOS DE DEUDA	100	Mexico (MX)	0
HSBC-D7 S.A. DE C.V. SOCIEDAD DE INVERSION EN INSTRUMENTOS DE DEUDA	100	Mexico (MX)	0
HSBC-D9 S.A. DE C.V. SOCIEDAD DE INVERSION EN INSTRUMENTOS DE DEUDA	100	Mexico (MX)	0
HSBC-DA S.A. DE C.V. SOCIEDAD DE INVERSION EN INSTRUMENTOS DE DEUDA	100	Mexico (MX)	0
HSBC-DE S.A. DE C.V. SOCIEDAD DE INVERSION EN INSTRUMENTOS DE DEUDA	100	Mexico (MX)	0
HSBC-DG S. A. DE C. V. SOCIEDAD DE INVERSION EN INSTRUMENTOS DE DEUDA	100	Mexico (MX)	0
HSBC-DH S. A. DE C. V. SOCIEDAD DE INVERSION EN INSTRUMENTOS DE DEUDA	100	Mexico (MX)	0
HSBC-DL S. A. DE C. V. SOCIEDAD DE INVERSION EN INSTRUMENTOS DE DEUDA	100	Mexico (MX)	0
HSBC-E2 S.A. DE C. V. SOCIEDAD DE INVERSION DE RENTA VARIABLE	100	Mexico (MX)	0
HSBC-E3 S.A. DE C.V. SOCIEDAD DE INVERSION DE RENTA VARIABLE	100	Mexico (MX)	0
HSBC-FF S.A. DE C.V. SOCIEDAD DE INVERSION DE RENTA VARIABLE	100	Mexico (MX)	0
HSBC-V2 S.A. DE C.V. SOCIEDAD DE INVERSION DE RENTA VARIABLE	100	Mexico (MX)	0
HSBC-V3 S.A. DE C.V. SOCIEDAD DE INVERSION DE RENTA VARIABLE	100	Mexico (MX)	0
HSBCD10 S. A. DE C. V. SOCIEDAD DE INVERSION EN INSTRUMENTOS DE DEUDA	100	Mexico (MX)	0
HSI HOLDING COMPANY S.A. DE C.V.	100	Mexico (MX)	0
HSI MEXICO S.A. DE C.V.	100	Mexico (MX)	0
INMOBILIARIA BANCI S.A. DE C.V.	100	Mexico (MX)	0
INMOBILIARIA BANGA S.A. DE C.V.	100	Mexico (MX)	0
INMOBILIARIA BISA S.A. DE C.V.	100	Mexico (MX)	0
INMOBILIARIA GBM ATLANTICO S.A. DE C.V.	100	Mexico (MX)	0
INMOBILIARIA GRUFIN S.A. DE C.V.	100	Mexico (MX)	0
INMOBILIARIA GUATUSI S.A. DE C.V.	100	Mexico (MX)	0
INMX COMERCIALIZACION S. A. DE C. V.	100	Mexico (MX)	0
INMX SERVICIOS S. A. DE C. V.	100	Mexico (MX)	0
OPERADORA DE HOTELES MAZATLAN S A. DE C.V.	100	Mexico (MX)	0
INMOBILIARIA BAMO S.A. DE C.V.	99	Mexico (MX)	0
HSBC FIANZAS S.A. GRUPO FINANCIERO HSBC	97	Mexico (MX)	0
PROMOTORA LOMA DORADA S.A. DE C.V	92	Mexico (MX)	0
PROMOCION EN BIENES RAICES S.A. DE C.V.	89	Mexico (MX)	0
DESARROLLO TURISTICO S.A. DE C.V.	82	Mexico (MX)	0
MEXICANA DE FOMENTO S.A. DE C.V.	70	Mexico (MX)	0
HSBC PRIVATE BANK	100	Monaco (MC)	74.53
HSBC PROPERTIES SA	100	Monaco (MC)	74.53
HSBC ASIA HOLDINGS B.V.	100	Netherlands (NL)	49
HSBC EUROPE	100	Netherlands (NL)	49
HSBC HOLDINGS BV	100	Netherlands (NL)	49
HSBC INVESTMENT BANK HOLDINGS BV	100	Netherlands (NL)	49
HSBC LATIN AMERICA B.V.	100	Netherlands (NL)	49
HSBC MIDDLE EAST HOLDINGS BV	100	Netherlands (NL)	49
HSBC PROPERTY HOLDINGS	100	Netherlands (NL)	49
HSBC TULIP FUNDING NEDERLAND BV	100	Netherlands (NL)	49
PROJECT MAPLE II B.V.	100	Netherlands (NL)	49
HSBC EUROPE B.V.	97	Netherlands (NL)	49
CFS HOLDINGS BV	69	Netherlands (NL)	49
CONVENIENCE FOOD SYSTEMS B.V.	69	Netherlands (NL)	49
AGATHISSIMO	100	New Caledonia (NC)	0
AGATHISSIMO 2	100	New Caledonia (NC)	0
SNC TIEBAGOUMENE	100	New Caledonia (NC)	0
SAS ORONA	99	New Caledonia (NC)	0
SAS BOSQUET- AUDRAIN	95	New Caledonia (NC)	0
SEMA 2I	3	New Caledonia (NC)	0
HSBC INTERNATIONAL TRUSTEE	100	New Zealand (NZ)	0
HSBC NOMINEES	100	New Zealand (NZ)	0
INTERCHANGE AND SETTLEMENT LIMITED	11	New Zealand (NZ)	0
HSBC REPRESENTATIVE OFFICE	100	Nigeria (NG)	0
C.B.I. PANAMA S.A.	100	Panama (PA)	76.73
FINANCIERA FLASH S.A.	100	Panama (PA)	76.73
FINANCOMER FACTORING S.A.	100	Panama (PA)	76.73
FINANCOMER S.A.	100	Panama (PA)	76.73
GESICO INTERNATIONAL SA	100	Panama (PA)	76.73
GRUPO FINANCOMER S.A.	100	Panama (PA)	76.73
HSBC BANK	100	Panama (PA)	76.73
HSBC INVESTMENT CORPORATION	100	Panama (PA)	76.73
HSBC LEASING S.A.	100	Panama (PA)	76.73
HSBC SECURITIES	100	Panama (PA)	76.73
HSBC SEGUROS	100	Panama (PA)	76.73
INMOBILIARIA BICKFORD S.A	100	Panama (PA)	76.73
POLLINI PROPERTY HOLDINGS INC.	100	Panama (PA)	76.73
VAN DYKE OVERSEAS CORP.	100	Panama (PA)	76.73
WILLIAMSBURG INTERNATIONAL CORP.	100	Panama (PA)	76.73
TELERED S.A.	10	Panama (PA)	76.73
BANISTMO ASSET MANAGEMENT INC.	5	Panama (PA)	76.73
BANISTMO CAPITAL MARKETS GROUP INC.	5	Panama (PA)	76.73
HSBC BANK PARAGUAY S.A.	100	Paraguay (PY)	0
HSBC BANK PERU S.A.	300	Peru (PE)	0
A SORIANO CORPORATION	100	Philippines (PH)	73.47
HSBC ELECTRONIC DATA PROCESSING	100	Philippines (PH)	73.47
HSBC FOREX	100	Philippines (PH)	73.47
HSBC INSURANCE BROKERS	100	Philippines (PH)	73.47
HSBC SAVINGS BANK	100	Philippines (PH)	73.47
HSBC SECURITIES	100	Philippines (PH)	73.47
PHILIPPINE DEALING SYSTEM HOLDINGS	100	Philippines (PH)	73.47
ORTIGAS AND COMPANY LIMITED PARTNERSHIP	34	Philippines (PH)	73.47
PHILIPPINE CLEARING HOUSE CORPORATION	2	Philippines (PH)	73.47
HSBC BANK POLSKA S.A.	100	Poland (PL)	0
HSBC INVESTMENT SERVICES	100	Poland (PL)	0
CCF ASSET MANAGEMENT RUSSIA	100	Russian Federation (RU)	0
HSBC BANK	97	Russian Federation (RU)	0
HALIFAX LIMITED	100	Samoa (WS)	84.67
HSBC SAUDI ARABIA LIMITED	76	Saudi Arabia (SA)	0
SABB TAKAFUL	46	Saudi Arabia (SA)	0
THE SAUDI BRITISH BANK	40	Saudi Arabia (SA)	0
HANG SENG ASSET MANAGEMENT PTE LTD	100	Singapore (SG)	70.8
HSBC	100	Singapore (SG)	70.8
HSBC FUND SERVICES	100	Singapore (SG)	70.8
HSBC FUTURES	100	Singapore (SG)	70.8
HSBC GLOBAL ASSET MANAGEMENT	100	Singapore (SG)	70.8
HSBC INSTITUTIONAL TRUST SERVICES	100	Singapore (SG)	70.8
HSBC INSURANCE	100	Singapore (SG)	70.8
HSBC INSURANCE BROKERS	100	Singapore (SG)	70.8
HSBC SECURITIES	100	Singapore (SG)	70.8
HSBC SECURITIES SERVICES	100	Singapore (SG)	70.8
HSBC TRUSTEE	100	Singapore (SG)	70.8
IL&FS INVESTSMART ASIA PACIFIC PRIVATE LIMITED	93	Singapore (SG)	70.8
MONDEX ASIA PTE LTD	49	Singapore (SG)	70.8
OCEAN PROPERTIES PTE LIMITED	13	Singapore (SG)	70.8
ASFINCO SINGAPORE LIMITED	3	Singapore (SG)	70.8
EH GROUP LTD	2	Singapore (SG)	70.8
HSBC INVESTMENT SERVICES	100	South Africa (ZA)	0
HSBC SECURITIES	100	South Africa (ZA)	0
CIRFLEX SA	62	Spain (ES)	33.93
HSBC ELECTRONIC DATA PROCESSING LANKA	100	Sri Lanka (LK)	0
HSBC INTERNATIONAL NOMINEES LIMITED	100	Sri Lanka (LK)	0
CREDIT INFORMATION BUREAU OF SRI LANKA	1	Sri Lanka (LK)	0
CORDICO MANAGEMENT AG	100	Switzerland (CH)	78.2
HSBC GUYERZELLER TRUST COMPANY AG	100	Switzerland (CH)	78.2
HSBC PB SERVICES	100	Switzerland (CH)	78.2
HSBC PRIVATE BANK	100	Switzerland (CH)	78.2
HSBC PRIVATE BANKING HOLDINGS	100	Switzerland (CH)	78.2
SERDAC	100	Switzerland (CH)	78.2
SOCIETE IMMOBILIERE ATLAS S.A.	100	Switzerland (CH)	78.2
TEMPUS MANAGEMENT AG	100	Switzerland (CH)	78.2
VADEP HOLDING AG	100	Switzerland (CH)	78.2
LAC ASSET MANAGEMENT S.A.	96	Switzerland (CH)	78.2
HSBC GLOBAL ASSET MANAGEMENT	89	Switzerland (CH)	78.2
PROTRUST MANAGEMENT AG	60	Switzerland (CH)	78.2
WINTER FINANZ AG	40	Switzerland (CH)	78.2
HSBC FACTORS TAIWAN LTD.	100	Taiwan (TW)	0
HSBC GLOBAL ASSET MANAGEMENT	100	Taiwan (TW)	0
HSBC INSURANCE BROKERS	100	Taiwan (TW)	0
HSBC SECURITIES	100	Taiwan (TW)	0
BANQUE DAFFAIRES DE TUNISIE	10	Tunisia (TN)	0
HSBC BANK A.S.	100	Turkey (TR)	0
HSBC ODEME SISTEMLERI BILGISAYAR TEKNOLOJILERI BASIN YAYIN VE MUSTERI HIZMETLERI	100	Turkey (TR)	0
HSBC PORTFOY YONETIMI A.S.	100	Turkey (TR)	0
HSBC YATIRIM MENKUL DEGERLER A.S.	100	Turkey (TR)	0
HSBC INTERNET VE TELEKOMUNIKASYON HIZMETLERI ANONIM SIRKETI	96	Turkey (TR)	0
HSBC FINANCIAL SERVICES	100	United Arab Emirates (AE)	79.07
HSBC MIDDLE EAST LEASING PARTNERSHIP	85	United Arab Emirates (AE)	79.07
HSBC MIDDLE EAST FINANCE COMPANY LIMITED	80	United Arab Emirates (AE)	79.07
HSBC MIDDLE EAST SECURITIES L.L.C	49	United Arab Emirates (AE)	79.07
INFRASTRUCTURE INVESTMENTS HOLDINGS LIMITED	195	United Kingdom (GB)	44.53
BYWEST	105	United Kingdom (GB)	44.53
BYWEST LIMITED	105	United Kingdom (GB)	44.53
ABLE STORAGE CENTRES LIMITED	100	United Kingdom (GB)	44.53
ACCORD ESTATES LIMITED	100	United Kingdom (GB)	44.53
ALBOUYS NOMINEES LIMITED	100	United Kingdom (GB)	44.53
AMALIE INFRASTRUCTURE LIMITED	100	United Kingdom (GB)	44.53
AMALIE PFI	100	United Kingdom (GB)	44.53
AMP CLIENT HSBC CUSTODY NOMINEE	100	United Kingdom (GB)	44.53
ANTONY GIBBS TRUSTEES LIMITED	100	United Kingdom (GB)	44.53
APOLLO SELF STORAGE LIMITED	100	United Kingdom (GB)	44.53
ARMADILLO SELF STORAGE LIMITED	100	United Kingdom (GB)	44.53
ASSETFINANCE CITY INVESTMENTS LIMITED	100	United Kingdom (GB)	44.53
ASSETFINANCE DECEMBER	100	United Kingdom (GB)	44.53
ASSETFINANCE JUNE	100	United Kingdom (GB)	44.53
ASSETFINANCE LIMITED	100	United Kingdom (GB)	44.53
ASSETFINANCE MARCH	100	United Kingdom (GB)	44.53
ASSETFINANCE SEPTEMBER	100	United Kingdom (GB)	44.53
B&Q FINANCIAL SERVICES LIMITED	100	United Kingdom (GB)	44.53
BACS PAYMENT SCHEMES LIMITED	100	United Kingdom (GB)	44.53
BENEFICIAL LIMITED	100	United Kingdom (GB)	44.53
BERMUDA	100	United Kingdom (GB)	44.53
BILLINGSGATE CITY SECURITIES PUBLIC LIMITED COMPANY	100	United Kingdom (GB)	44.53
BILLINGSGATE NOMINEES LIMITED	100	United Kingdom (GB)	44.53
BRIDE INVESTMENTS	100	United Kingdom (GB)	44.53
BROKER DIRECT PLC	100	United Kingdom (GB)	44.53
BY CHELMER	100	United Kingdom (GB)	44.53
BY CHELMER PLC	100	United Kingdom (GB)	44.53
BY NOM LIMITED	100	United Kingdom (GB)	44.53
C P E INVESTMENTS NO 1 LIMITED	100	United Kingdom (GB)	44.53
CANADA CRESCENT NOMINEES	100	United Kingdom (GB)	44.53
CANADA SQUARE NOMINEES	100	United Kingdom (GB)	44.53
CANADA WATER NOMINEES	100	United Kingdom (GB)	44.53
CCF CHARTERHOUSE LIMITED	100	United Kingdom (GB)	44.53
CENTRAL GARAGE	100	United Kingdom (GB)	44.53
CHANTAL TWO LIMITED	100	United Kingdom (GB)	44.53
CHARTERHOUSE ADMINISTRATORS	100	United Kingdom (GB)	44.53
CHARTERHOUSE DEVELOPMENT LIMITED	100	United Kingdom (GB)	44.53
CHARTERHOUSE FINANCE CORPORATION LIMITED	100	United Kingdom (GB)	44.53
CHARTERHOUSE INCOME CARRY SLP LIMITED	100	United Kingdom (GB)	44.53
CHARTERHOUSE MANAGEMENT SERVICES LIMITED	100	United Kingdom (GB)	44.53
CHARTERHOUSE PENSIONS LIMITED	100	United Kingdom (GB)	44.53
CHARTERHOUSE PROPERTY GENERAL PARTNER	100	United Kingdom (GB)	44.53
CHARTERHOUSE PROPERTY NOMINEES	100	United Kingdom (GB)	44.53
CHARTERHOUSE PROPERTY SPECIAL LP LIMITED	100	United Kingdom (GB)	44.53
CHARTERHOUSE RETAIL PROPERTY SPECIAL LP LIMITED	100	United Kingdom (GB)	44.53
CHARTERHOUSE SECURITIES HOLDINGS	100	United Kingdom (GB)	44.53
CL ADMINISTRATION	100	United Kingdom (GB)	44.53
CL ADMINISTRATION LIMITED	100	United Kingdom (GB)	44.53
CL RESIDENTIAL LIMITED	100	United Kingdom (GB)	44.53
COWSLIP ESTATES	100	United Kingdom (GB)	44.53
CREST NICHOLSON HOLDINGS LIMITED	100	United Kingdom (GB)	44.53
CREWFLEET LIMITED	100	United Kingdom (GB)	44.53
CRITERION HEALTHCARE HOLDINGS LIMITED	100	United Kingdom (GB)	44.53
CRITERION HEALTHCARE PLC	100	United Kingdom (GB)	44.53
CROMWELL LAND DEVELOPMENTS LIMITED	100	United Kingdom (GB)	44.53
CROMWELL LAND FINANCE LIMITED	100	United Kingdom (GB)	44.53
CROMWELL LAND INVESTMENTS LIMITED	100	United Kingdom (GB)	44.53
CROMWELL LAND LIMITED	100	United Kingdom (GB)	44.53
CROMWELL LAND MANAGEMENT LIMITED	100	United Kingdom (GB)	44.53
CROWN VEHICLE CONTRACTS PLC	100	United Kingdom (GB)	44.53
CVL LIMITED	100	United Kingdom (GB)	44.53
D.L.R.S. LIMITED	100	United Kingdom (GB)	44.53
DERBY PARTICIPATIONS LIMITED	100	United Kingdom (GB)	44.53
DEVELOPING COUNTRIES INVESTMENT LIMITED	100	United Kingdom (GB)	44.53
DRAYTON CORPORATION	100	United Kingdom (GB)	44.53
ELMBRIDGE COURT	100	United Kingdom (GB)	44.53
EMTT LIMITED	100	United Kingdom (GB)	44.53
ENCORE PROPERTIES LIMITED	100	United Kingdom (GB)	44.53
ENCORE PROPERTIES NOMINEE	100	United Kingdom (GB)	44.53
ENDEAVOUR PERSONAL FINANCE LIMITED	100	United Kingdom (GB)	44.53
EQUATOR HOLDINGS LIMITED	100	United Kingdom (GB)	44.53
EUROPEAN RAIL FINANCE	100	United Kingdom (GB)	44.53
EVERSHOLT RAIL	100	United Kingdom (GB)	44.53
EVERSHOLT RAIL HOLDINGS	100	United Kingdom (GB)	44.53
FIRST DIRECT INVESTMENTS	100	United Kingdom (GB)	44.53
FORWARD TRUST LIMITED	100	United Kingdom (GB)	44.53
FORWARD TRUST MOTOR FINANCE LIMITED	100	United Kingdom (GB)	44.53
FORWARD TRUST PERSONAL FINANCE LIMITED	100	United Kingdom (GB)	44.53
FORWARD TRUST RAIL SERVICES LIMITED	100	United Kingdom (GB)	44.53
FTG LIMITED	100	United Kingdom (GB)	44.53
FUND NOMINEES LIMITED	100	United Kingdom (GB)	44.53
G.M. GILT-EDGED NOMINEES LIMITED	100	United Kingdom (GB)	44.53
GIBBS GULF INSURANCE CONSULTANTS LIMITED	100	United Kingdom (GB)	44.53
GREENWELL NOMINEES LIMITED	100	United Kingdom (GB)	44.53
GRENDON SECURITIES LIMITED	100	United Kingdom (GB)	44.53
GRIFFIN CREDIT SERVICES LIMITED	100	United Kingdom (GB)	44.53
GRIFFIN INTERNATIONAL LIMITED	100	United Kingdom (GB)	44.53
HALBIS CAPITAL MANAGEMENT	100	United Kingdom (GB)	44.53
HAMILTON FINANCIAL PLANNING SERVICES LIMITED	100	United Kingdom (GB)	44.53
HARTLEY COOPER & WARNER LIMITED	100	United Kingdom (GB)	44.53
HBL NOMINEES LIMITED	100	United Kingdom (GB)	44.53
HEAREF BLOOM HOLDINGS LIMITED	100	United Kingdom (GB)	44.53
HEAREF BLOOM NOMINEE NO 1 LIMITED	100	United Kingdom (GB)	44.53
HEAREF BLOOM NOMINEE NO 2 LIMITED	100	United Kingdom (GB)	44.53
HEAREF SHERWOOD HOLDINGS LIMITED	100	United Kingdom (GB)	44.53
HEAREF SHERWOOD NOMINEE NO 1 LIMITED	100	United Kingdom (GB)	44.53
HEAREF SHERWOOD NOMINEE NO 2 LIMITED	100	United Kingdom (GB)	44.53
HFC BANK LIMITED	100	United Kingdom (GB)	44.53
HFC PENSION PLAN LIMITED	100	United Kingdom (GB)	44.53
HILAGA INVESTMENTS LIMITED	100	United Kingdom (GB)	44.53
HOLMWOODS TERMTIME CREDIT LIMITED	100	United Kingdom (GB)	44.53
HONGKONG INTERNATIONAL TRADE FINANCE	100	United Kingdom (GB)	44.53
HOUSEHOLD COMPUTER SERVICES LIMITED	100	United Kingdom (GB)	44.53
HOUSEHOLD FINANCE LIMITED	100	United Kingdom (GB)	44.53
HOUSEHOLD FUNDING PLC	100	United Kingdom (GB)	44.53
HOUSEHOLD INTERNATIONAL EUROPE LIMITED	100	United Kingdom (GB)	44.53
HOUSEHOLD INVESTMENTS LIMITED	100	United Kingdom (GB)	44.53
HOUSEHOLD LEASING LIMITED	100	United Kingdom (GB)	44.53
HOUSEHOLD MANAGEMENT CORPORATION LIMITED	100	United Kingdom (GB)	44.53
HOUSEHOLD OVERSEAS LIMITED	100	United Kingdom (GB)	44.53
HSBC ALTERNATIVE INVESTMENTS LIMITED	100	United Kingdom (GB)	44.53
HSBC ASIA HOLDINGS	100	United Kingdom (GB)	44.53
HSBC ASIA PACIFIC HOLDINGS	100	United Kingdom (GB)	44.53
HSBC ASSET FINANCE	100	United Kingdom (GB)	44.53
HSBC ASSET FINANCE M.O.G. HOLDINGS	100	United Kingdom (GB)	44.53
HSBC BANK PENSION TRUST	100	United Kingdom (GB)	44.53
HSBC BANK PLC	100	United Kingdom (GB)	44.53
HSBC BRANCH NOMINEE	100	United Kingdom (GB)	44.53
HSBC CANADA HOLDINGS	100	United Kingdom (GB)	44.53
HSBC CAPITAL FINANCING HOLDINGS	100	United Kingdom (GB)	44.53
HSBC CAPITAL FUNDING 1	100	United Kingdom (GB)	44.53
HSBC CITY FUNDING HOLDINGS	100	United Kingdom (GB)	44.53
HSBC CLIENT HOLDINGS NOMINEE	100	United Kingdom (GB)	44.53
HSBC CLIENT SHARE OFFER NOMINEE	100	United Kingdom (GB)	44.53
HSBC CORPORATE TRUSTEE COMPANY	100	United Kingdom (GB)	44.53
HSBC DEVELOPMENT PROPERTIES	100	United Kingdom (GB)	44.53
HSBC ENTERPRISE INVESTMENT COMPANY	100	United Kingdom (GB)	44.53
HSBC ENVIRONMENTAL INFRASTRUCTURE FUND GP LTD	100	United Kingdom (GB)	44.53
HSBC EQUATOR	100	United Kingdom (GB)	44.53
HSBC EQUIPMENT FINANCE	100	United Kingdom (GB)	44.53
HSBC EQUITY	100	United Kingdom (GB)	44.53
HSBC EQUITY NOMINEE NUMBER 33	100	United Kingdom (GB)	44.53
HSBC EQUITY NOMINEE NUMBER 34	100	United Kingdom (GB)	44.53
HSBC EQUITY NOMINEE NUMBER 35	100	United Kingdom (GB)	44.53
HSBC EQUITY NOMINEE NUMBER 65	100	United Kingdom (GB)	44.53
HSBC EUROPEAN ACTIVE REAL ESTATE FUND NOMINEE LIMITED	100	United Kingdom (GB)	44.53
HSBC EUROPEAN ACTIVE REAL ESTATE FUND TRUSTEE LIMITED	100	United Kingdom (GB)	44.53
HSBC EUROPEAN ACTIVE REAL ESTATE GENERAL PARTNER LIMITED	100	United Kingdom (GB)	44.53
HSBC EUROPEAN CLIENTS DEPOSITARY RECEIPTS NOMINEE	100	United Kingdom (GB)	44.53
HSBC EXECUTOR & TRUSTEE COMPANY	100	United Kingdom (GB)	44.53
HSBC FINANCE	100	United Kingdom (GB)	44.53
HSBC FINANCE LIMITED	100	United Kingdom (GB)	44.53
HSBC FINANCE TRANSFORMATION	100	United Kingdom (GB)	44.53
HSBC FUNDING SERVICES LIMITED	100	United Kingdom (GB)	44.53
HSBC GENERAL INSURANCE SERVICES	100	United Kingdom (GB)	44.53
HSBC GIBBS	100	United Kingdom (GB)	44.53
HSBC GIBBS ACTUARIAL & ADVISORY SERVICES LIMITED	100	United Kingdom (GB)	44.53
HSBC GIBBS CONSULTING LIMITED	100	United Kingdom (GB)	44.53
HSBC GIBBS INTERNATIONAL PROPERTY LIMITED	100	United Kingdom (GB)	44.53
HSBC GLOBAL ASSET MANAGEMENT	100	United Kingdom (GB)	44.53
HSBC GLOBAL ASSET MANAGEMENT LIMITED	100	United Kingdom (GB)	44.53
HSBC GLOBAL CUSTODY NOMINEE	100	United Kingdom (GB)	44.53
HSBC GLOBAL CUSTODY TCI NOMINEE	100	United Kingdom (GB)	44.53
HSBC GLOBAL RESOURCING	100	United Kingdom (GB)	44.53
HSBC GROUP NOMINEES UK LIMITED	100	United Kingdom (GB)	44.53
HSBC HOLDINGS PLC	100	United Kingdom (GB)	44.53
HSBC IM PENSION TRUST LIMITED	100	United Kingdom (GB)	44.53
HSBC INDOCHINA INVESTMENTS GP LTD	100	United Kingdom (GB)	44.53
HSBC INFRASTRUCTURE FUND MANAGEMENT LIMITED	100	United Kingdom (GB)	44.53
HSBC INFRASTRUCTURE LIMITED	100	United Kingdom (GB)	44.53
HSBC INSURANCE	100	United Kingdom (GB)	44.53
HSBC INSURANCE BROKERS HOLDINGS LIMITED	100	United Kingdom (GB)	44.53
HSBC INSURANCE HOLDINGS LIMITED	100	United Kingdom (GB)	44.53
HSBC INSURANCE MANAGEMENT SERVICES LIMITED	100	United Kingdom (GB)	44.53
HSBC INSURANCE SERVICES	100	United Kingdom (GB)	44.53
HSBC INTERMEDIATE LEASING	100	United Kingdom (GB)	44.53
HSBC INTERNATIONAL FINANCIAL ADVISERS	100	United Kingdom (GB)	44.53
HSBC INTERNATIONAL FINANCIAL SERVICES	100	United Kingdom (GB)	44.53
HSBC INTERNATIONAL TRADE FINANCE LIMITED	100	United Kingdom (GB)	44.53
HSBC INVESTMENT BANK HOLDINGS PLC	100	United Kingdom (GB)	44.53
HSBC INVESTMENT RESIDUARY LIMITED	100	United Kingdom (GB)	44.53
HSBC INVOICE FINANCE	100	United Kingdom (GB)	44.53
HSBC ISSUER SERVICES COMMON DEPOSITARY NOMINEE	100	United Kingdom (GB)	44.53
HSBC ISSUER SERVICES DEPOSITARY NOMINEE	100	United Kingdom (GB)	44.53
HSBC LATIN AMERICA HOLDINGS	100	United Kingdom (GB)	44.53
HSBC LIFE	100	United Kingdom (GB)	44.53
HSBC LODGE FUNDING	100	United Kingdom (GB)	44.53
HSBC LONDON HOLDINGS LIMITED	100	United Kingdom (GB)	44.53
HSBC MARKING NAME NOMINEE	100	United Kingdom (GB)	44.53
HSBC OVERSEAS HOLDINGS	100	United Kingdom (GB)	44.53
HSBC OVERSEAS INVESTMENTS	100	United Kingdom (GB)	44.53
HSBC OVERSEAS NOMINEE	100	United Kingdom (GB)	44.53
HSBC PLC	100	United Kingdom (GB)	44.53
HSBC PREFERENTIAL LP	100	United Kingdom (GB)	44.53
HSBC PRIVATE BANK	100	United Kingdom (GB)	44.53
HSBC PRIVATE EQUITY EUROPEAN	100	United Kingdom (GB)	44.53
HSBC PRIVATE EQUITY INVESTMENTS	100	United Kingdom (GB)	44.53
HSBC PRIVATE TRUSTEE	100	United Kingdom (GB)	44.53
HSBC PROPERTY	100	United Kingdom (GB)	44.53
HSBC PROPERTY FUNDS	100	United Kingdom (GB)	44.53
HSBC PROPERTY FUNDS INVESTMENT LIMITED	100	United Kingdom (GB)	44.53
HSBC PROPERTY INVESTMENTS LIMITED	100	United Kingdom (GB)	44.53
HSBC QUEST TRUSTEE	100	United Kingdom (GB)	44.53
HSBC RAIL	100	United Kingdom (GB)	44.53
HSBC RETIREMENT BENEFITS TRUSTEE	100	United Kingdom (GB)	44.53
HSBC ROSE	100	United Kingdom (GB)	44.53
HSBC ROSE FUNDING	100	United Kingdom (GB)	44.53
HSBC SECURITIES	100	United Kingdom (GB)	44.53
HSBC SECURITIES SERVICES	100	United Kingdom (GB)	44.53
HSBC SHIPPING SERVICES LIMITED	100	United Kingdom (GB)	44.53
HSBC SOC LLOYDS CLIENTS NOMINEE	100	United Kingdom (GB)	44.53
HSBC SPECIALIST FUND MANAGEMENT LIMITED	100	United Kingdom (GB)	44.53
HSBC SPECIALIST INVESTMENTS LIMITED	100	United Kingdom (GB)	44.53
HSBC SPMS NOMINEE	100	United Kingdom (GB)	44.53
HSBC STOCKBROKER SERVICES	100	United Kingdom (GB)	44.53
HSBC STOCKBROKERS NOMINEE	100	United Kingdom (GB)	44.53
HSBC TRUST COMPANY	100	United Kingdom (GB)	44.53
HSBC TULIP	100	United Kingdom (GB)	44.53
HSBC TULIP FUNDING	100	United Kingdom (GB)	44.53
HSBC TULIP HOLDINGS	100	United Kingdom (GB)	44.53
HSBC VEHICLE FINANCE	100	United Kingdom (GB)	44.53
HSBC VEHICLE SERVICES	100	United Kingdom (GB)	44.53
HSBC VENTURES	100	United Kingdom (GB)	44.53
HSBC VINTNERS PLACE LIMITED	100	United Kingdom (GB)	44.53
HSI ACTIVE PROPERTY FUND NOMINEE LIMITED	100	United Kingdom (GB)	44.53
HSI ACTIVE PROPERTY FUND TRUSTEE LIMITED	100	United Kingdom (GB)	44.53
HSIL	100	United Kingdom (GB)	44.53
HSIL INVESTMENTS LIMITED	100	United Kingdom (GB)	44.53
HSIL PROPERTIES	100	United Kingdom (GB)	44.53
ICB SECURITIES 1 LIMITED	100	United Kingdom (GB)	44.53
ICB SECURITIES 2 UNLIMITED	100	United Kingdom (GB)	44.53
INFRASTRUCTURE INVESTMENTS	100	United Kingdom (GB)	44.53
INFRASTRUCTURE INVESTMENTS GENERAL PARTNER LIMITED	100	United Kingdom (GB)	44.53
INVERARAY INVESTMENTS LIMITED	100	United Kingdom (GB)	44.53
JAMES CAPEL	100	United Kingdom (GB)	44.53
JAMES CAPEL & CO. LIMITED	100	United Kingdom (GB)	44.53
JAMES CAPEL HOLDINGS LIMITED	100	United Kingdom (GB)	44.53
JAMES CAPEL INVESTMENTS LIMITED	100	United Kingdom (GB)	44.53
JAMES CAPEL SERVICES LIMITED	100	United Kingdom (GB)	44.53
JOHN LEWIS FINANCIAL SERVICES LIMITED	100	United Kingdom (GB)	44.53
JUNGHEINRICH LEASING LIMITED	100	United Kingdom (GB)	44.53
KEYSER ULLMANN LIMITED	100	United Kingdom (GB)	44.53
LAW 2313 LIMITED	100	United Kingdom (GB)	44.53
LAWINSURE LIMITED	100	United Kingdom (GB)	44.53
LEGEND ESTATES LIMITED	100	United Kingdom (GB)	44.53
LGA TRUSTEES LIMITED	100	United Kingdom (GB)	44.53
MAGIM CLIENT HSBC GIS NOMINEE	100	United Kingdom (GB)	44.53
MARKS AND SPENCER FINANCIAL SERVICES PLC	100	United Kingdom (GB)	44.53
MARKS AND SPENCER LIFE ASSURANCE LIMITED	100	United Kingdom (GB)	44.53
MARKS AND SPENCER RETAIL FINANCIAL SERVICES HOLDINGS LIMITED	100	United Kingdom (GB)	44.53
MARKS AND SPENCER SAVINGS AND INVESTMENTS LIMITED	100	United Kingdom (GB)	44.53
MARKS AND SPENCER UNIT TRUST MANAGEMENT LIMITED	100	United Kingdom (GB)	44.53
MATLODGE LIMITED	100	United Kingdom (GB)	44.53
MERCANTILE COMPANY LIMITED	100	United Kingdom (GB)	44.53
METROPOLITAN COLLECTION SERVICES LIMITED	100	United Kingdom (GB)	44.53
MIDCORP LIMITED	100	United Kingdom (GB)	44.53
MIDLAND BANK	100	United Kingdom (GB)	44.53
MIDLAND BANK INSURANCE SERVICES LIMITED	100	United Kingdom (GB)	44.53
MIDLAND INTERNATIONAL TRADE SERVICES	100	United Kingdom (GB)	44.53
MIDLAND NOMINEES LIMITED	100	United Kingdom (GB)	44.53
MONTAGU TRUST LIMITED	100	United Kingdom (GB)	44.53
MORACREST INVESTMENTS LIMITED	100	United Kingdom (GB)	44.53
MOTOLEASE LIMITED	100	United Kingdom (GB)	44.53
MYRAYARN LIMITED	100	United Kingdom (GB)	44.53
NESSDALE LIMITED	100	United Kingdom (GB)	44.53
NHFA LIMITED	100	United Kingdom (GB)	44.53
PATERNOSTER HEAREF GP LIMITED	100	United Kingdom (GB)	44.53
PATERNOSTER PARTNERS 2 LIMITED	100	United Kingdom (GB)	44.53
PATERNOSTER PARTNERS LIMITED	100	United Kingdom (GB)	44.53
PETERBOROUGH HOSPITAL INVESTMENTS LIMITED	100	United Kingdom (GB)	44.53
PETERBOROUGH HOSPITAL LP CO.	100	United Kingdom (GB)	44.53
PROJECT EQUITY CARRIED INTEREST M P LIMITED	100	United Kingdom (GB)	44.53
PROPERTY VISION HOLDINGS LIMITED	100	United Kingdom (GB)	44.53
PROPERTY VISION LIMITED	100	United Kingdom (GB)	44.53
PRUDENTIAL CLIENT HSBC GIS NOMINEE	100	United Kingdom (GB)	44.53
PYDAR CENTRE 2 LIMITED	100	United Kingdom (GB)	44.53
SALFORD PARTICIPATIONS LIMITED	100	United Kingdom (GB)	44.53
SAMUEL MONTAGU & CO	100	United Kingdom (GB)	44.53
SAMUEL MONTAGU & CO. LIMITED	100	United Kingdom (GB)	44.53
SAMUEL MONTAGU HOLDINGS LIMITED	100	United Kingdom (GB)	44.53
SHENFIELD NOMINEES LIMITED	100	United Kingdom (GB)	44.53
SHIELD PROPERTIES & INVESTMENTS	100	United Kingdom (GB)	44.53
SHIELD PROPERTIES & INVESTMENTS LIMITED	100	United Kingdom (GB)	44.53
SHUTTLE DEVELOPMENTS LIMITED	100	United Kingdom (GB)	44.53
SINOPIA ASSET MANAGEMENT	100	United Kingdom (GB)	44.53
SOMERS	100	United Kingdom (GB)	44.53
SOUTH EAST PARTICIPATIONS LIMITED	100	United Kingdom (GB)	44.53
SOUTH YORKSHIRE LIGHT RAIL LIMITED	100	United Kingdom (GB)	44.53
SPEEDCALM LIMITED	100	United Kingdom (GB)	44.53
ST CROSS TRUSTEES LIMITED	100	United Kingdom (GB)	44.53
STERLING CREDIT LIMITED	100	United Kingdom (GB)	44.53
STOCKWATCH LIMITED	100	United Kingdom (GB)	44.53
SWAN NATIONAL LEASING	100	United Kingdom (GB)	44.53
SWAN NATIONAL LIMITED	100	United Kingdom (GB)	44.53
SWORDHEATH PROPERTIES LIMITED	100	United Kingdom (GB)	44.53
THE LONDON MORTGAGE TRUST LIMITED	100	United Kingdom (GB)	44.53
THE VENTURE CATALYSTS LIMITED	100	United Kingdom (GB)	44.53
TKM INTERNATIONAL LIMITED	100	United Kingdom (GB)	44.53
TKM LIMITED	100	United Kingdom (GB)	44.53
TRIALDEAN LIMITED	100	United Kingdom (GB)	44.53
TURNSONIC	100	United Kingdom (GB)	44.53
URBAN SOLUTIONS	100	United Kingdom (GB)	44.53
VICARAGE FIELDS	100	United Kingdom (GB)	44.53
VODAFONE UK INVESTMENTS LIMITED	100	United Kingdom (GB)	44.53
WUTM NOMINEES LIMITED	100	United Kingdom (GB)	44.53
BYCENTRAL HOLDINGS LIMITED	97	United Kingdom (GB)	44.53
BYCENTRAL LIMITED	97	United Kingdom (GB)	44.53
AGP	95	United Kingdom (GB)	44.53
AGP HOLDINGS	95	United Kingdom (GB)	44.53
ANNES GATE PROPERTY PLC	95	United Kingdom (GB)	44.53
ENTERPRISE CIVIC BUILDINGS	90	United Kingdom (GB)	44.53
ENTERPRISE CIVIC BUILDINGS LIMITED	90	United Kingdom (GB)	44.53
ENTERPRISE EDUCATION CONWY LIMITED	90	United Kingdom (GB)	44.53
ENTERPRISE EDUCATION HOLDINGS CONWY LIMITED	90	United Kingdom (GB)	44.53
ENTERPRISE HEALTHCARE HOLDINGS LIMITED	90	United Kingdom (GB)	44.53
ENTERPRISE HEALTHCARE LIMITED	90	United Kingdom (GB)	44.53
BOUYGUES PARTNERSHIP FOR EDUCATION AND COMMUNITY	85	United Kingdom (GB)	44.53
BYNORTH	85	United Kingdom (GB)	44.53
BYNORTH LIMITED	85	United Kingdom (GB)	44.53
SUSSEX CUSTODIAL SERVICES	82	United Kingdom (GB)	44.53
SUSSEX CUSTODIAL SERVICES LIMITED	82	United Kingdom (GB)	44.53
MCRP GENERAL PARTNER LIMITED	75	United Kingdom (GB)	44.53
WALTHAM FOREST LOCAL EDUCATION PARTNERSHIP LIMITED	68	United Kingdom (GB)	44.53
BY EDUCATION	65	United Kingdom (GB)	44.53
GENESYS TELECOMMUNICATIONS HOLDINGS LIMITED	55	United Kingdom (GB)	44.53
GENESYS TELECOMMUNICATIONS LIMITED	55	United Kingdom (GB)	44.53
RMPA HOLDINGS LIMITED	55	United Kingdom (GB)	44.53
RMPA NOMINEES LIMITED	55	United Kingdom (GB)	44.53
RMPA SERVICES PLC	55	United Kingdom (GB)	44.53
CORSAIR PROPERTIES LIMITED	50	United Kingdom (GB)	44.53
HOLMWOODS	50	United Kingdom (GB)	44.53
HOLMWOODS GROUP LIMITED	50	United Kingdom (GB)	44.53
HOLMWOODS INSURANCE GROUP MANAGEMENT LIMITED	50	United Kingdom (GB)	44.53
HOLMWOODS INSURANCE SERVICES LIMITED	50	United Kingdom (GB)	44.53
HOLMWOODS LIFE & PENSIONS LIMITED	50	United Kingdom (GB)	44.53
HOLMWOODS UNDERWRITING AGENCY LIMITED	50	United Kingdom (GB)	44.53
HSBC FUNDING	50	United Kingdom (GB)	44.53
HSBC NF CHINA SLP LIMITED	50	United Kingdom (GB)	44.53
MIDSUMMER LODGE INVESTMENTS	50	United Kingdom (GB)	44.53
SAMUEL MONTAGU INTERNATIONAL HOLDINGS	50	United Kingdom (GB)	44.53
URBAN SOLUTIONS CARDIFF HOLDINGS LIMITED	50	United Kingdom (GB)	44.53
URBAN SOLUTIONS GREENWICH HOLDINGS LIMITED	50	United Kingdom (GB)	44.53
VAULTEX UK LIMITED	50	United Kingdom (GB)	44.53
BRITISH ARAB COMMERCIAL BANK PUBLIC LIMITED COMPANY	49	United Kingdom (GB)	44.53
FOINAVON LIMITED	45	United Kingdom (GB)	44.53
PARADIGM	40	United Kingdom (GB)	44.53
SHEFFIELD LEP LIMITED	40	United Kingdom (GB)	44.53
MANDARIN 1 LIMITED	33	United Kingdom (GB)	44.53
CALEY SPV LIMITED	23	United Kingdom (GB)	44.53
MONTAGU HOLDINGS LIMITED	20	United Kingdom (GB)	44.53
MOTABILITY OPERATIONS GROUP PLC	20	United Kingdom (GB)	44.53
SECURECOMS LIMITED	20	United Kingdom (GB)	44.53
LAFARGE FINANCE LIMITED	17	United Kingdom (GB)	44.53
CCF & PARTNERS ASSET MANAGEMENT LIMITED	15	United Kingdom (GB)	44.53
VOCALINK HOLDINGS LIMITED	15	United Kingdom (GB)	44.53
CITY OF LONDON HELIPORT LIMITED	11	United Kingdom (GB)	44.53
CHEQUE AND CREDIT CLEARING COMPANY LIMITED	8	United Kingdom (GB)	44.53
HCM HOLDINGS LIMITED	8	United Kingdom (GB)	44.53
EFT-POS UK LIMITED	7	United Kingdom (GB)	44.53
CHAPS CLEARING COMPANY LIMITED	6	United Kingdom (GB)	44.53
EUROCLEAR PLC	6	United Kingdom (GB)	44.53
TEMDAL	5	United Kingdom (GB)	44.53
UK PAYMENTS ADMINISTRATION LIMITED	4	United Kingdom (GB)	44.53
EMPLOYMENT CONDITIONS ABROAD LIMITED	3	United Kingdom (GB)	44.53
FXNET LIMITED	3	United Kingdom (GB)	44.53
MARKIT GROUP HOLDINGS LIMITED	3	United Kingdom (GB)	44.53
CLS UK INTERMEDIATE HOLDINGS LTD.	2	United Kingdom (GB)	44.53
LCH.CLEARNET GROUP LIMITED	1	United Kingdom (GB)	44.53
HSBC FINANCIAL SERVICES	100	Uruguay (UY)	78.13
HSBC BANK	90	Uruguay (UY)	78.13
BENEFICIAL MASSACHUSETTS INC.	500	Usa (Delaware) (USDE)	78.47
AHLIC INVESTMENT HOLDINGS CORPORATION	100	Usa (Delaware) (USDE)	78.47
BEAVER VALLEY INC.	100	Usa (Delaware) (USDE)	78.47
BENCHARGE CREDIT SERVICE HOLDING COMPANY	100	Usa (Delaware) (USDE)	78.47
BENEFICIAL COMMERCIAL CORPORATION	100	Usa (Delaware) (USDE)	78.47
BENEFICIAL COMMERCIAL HOLDING CORPORATION	100	Usa (Delaware) (USDE)	78.47
BENEFICIAL COMPANY LLC	100	Usa (Delaware) (USDE)	78.47
BENEFICIAL CONNECTICUT INC.	100	Usa (Delaware) (USDE)	78.47
BENEFICIAL CREDIT SERVICES INC.	100	Usa (Delaware) (USDE)	78.47
BENEFICIAL CREDIT SERVICES OF CONNECTICUT INC.	100	Usa (Delaware) (USDE)	78.47
BENEFICIAL CREDIT SERVICES OF MISSISSIPPI INC.	100	Usa (Delaware) (USDE)	78.47
BENEFICIAL CREDIT SERVICES OF SOUTH CAROLINA INC.	100	Usa (Delaware) (USDE)	78.47
BENEFICIAL FINANCE CO.	100	Usa (Delaware) (USDE)	78.47
BENEFICIAL FINANCIAL II LLC	100	Usa (Delaware) (USDE)	78.47
BENEFICIAL FRANCHISE COMPANY INC.	100	Usa (Delaware) (USDE)	78.47
BENEFICIAL HOMEOWNER SERVICE CORPORATION	100	Usa (Delaware) (USDE)	78.47
BENEFICIAL INVESTMENT CO.	100	Usa (Delaware) (USDE)	78.47
BENEFICIAL KENTUCKY INC.	100	Usa (Delaware) (USDE)	78.47
BENEFICIAL LEASING GROUP INC.	100	Usa (Delaware) (USDE)	78.47
BENEFICIAL LOAN & THRIFT CO.	100	Usa (Delaware) (USDE)	78.47
BENEFICIAL LOUISIANA INC.	100	Usa (Delaware) (USDE)	78.47
BENEFICIAL MAINE INC.	100	Usa (Delaware) (USDE)	78.47
BENEFICIAL MANAGEMENT CORPORATION OF AMERICA	100	Usa (Delaware) (USDE)	78.47
BENEFICIAL MICHIGAN INC.	100	Usa (Delaware) (USDE)	78.47
BENEFICIAL MORTGAGE CORPORATION	100	Usa (Delaware) (USDE)	78.47
BENEFICIAL NEW HAMPSHIRE INC.	100	Usa (Delaware) (USDE)	78.47
BENEFICIAL OREGON INC.	100	Usa (Delaware) (USDE)	78.47
BENEFICIAL REAL ESTATE JOINT VENTURES INC.	100	Usa (Delaware) (USDE)	78.47
BENEFICIAL RHODE ISLAND INC.	100	Usa (Delaware) (USDE)	78.47
BENEFICIAL SOUTH DAKOTA INC.	100	Usa (Delaware) (USDE)	78.47
BMC HOLDING COMPANY	100	Usa (Delaware) (USDE)	78.47
CABOT PARK HOLDINGS INC.	100	Usa (Delaware) (USDE)	78.47
CARD-FLO #1 INC.	100	Usa (Delaware) (USDE)	78.47
CARD-FLO #3 INC.	100	Usa (Delaware) (USDE)	78.47
CC&H HOLDINGS LLC	100	Usa (Delaware) (USDE)	78.47
DELAWARE SECURITIES PROCESSING CORP.	100	Usa (Delaware) (USDE)	78.47
EIGHTH HFC LEASING CORPORATION	100	Usa (Delaware) (USDE)	78.47
F-STREET HOLDINGS INC.	100	Usa (Delaware) (USDE)	78.47
FIFTH HFC LEASING CORPORATION	100	Usa (Delaware) (USDE)	78.47
FOURTEENTH HFC LEASING CORPORATION	100	Usa (Delaware) (USDE)	78.47
FOURTH HFC LEASING CORPORATION	100	Usa (Delaware) (USDE)	78.47
GWML HOLDINGS INC.	100	Usa (Delaware) (USDE)	78.47
HFC COMMERCIAL REALTY INC.	100	Usa (Delaware) (USDE)	78.47
HFC COMPANY LLC	100	Usa (Delaware) (USDE)	78.47
HFC FINANCIAL I LLC	100	Usa (Delaware) (USDE)	78.47
HFC FINANCIAL II LLC	100	Usa (Delaware) (USDE)	78.47
HFC LEASING INC.	100	Usa (Delaware) (USDE)	78.47
HFTA CORPORATION	100	Usa (Delaware) (USDE)	78.47
HOUSEHOLD CAPITAL MARKETS LLC	100	Usa (Delaware) (USDE)	78.47
HOUSEHOLD COMMERCIAL FINANCIAL SERVICES INC.	100	Usa (Delaware) (USDE)	78.47
HOUSEHOLD CONSUMER LOAN CORPORATION II	100	Usa (Delaware) (USDE)	78.47
HOUSEHOLD FINANCE CONSUMER DISCOUNT COMPANY	100	Usa (Delaware) (USDE)	78.47
HOUSEHOLD FINANCE CORPORATION II	100	Usa (Delaware) (USDE)	78.47
HOUSEHOLD FINANCE CORPORATION III	100	Usa (Delaware) (USDE)	78.47
HOUSEHOLD FINANCE CORPORATION OF CALIFORNIA	100	Usa (Delaware) (USDE)	78.47
HOUSEHOLD FINANCE CORPORATION OF NEVADA	100	Usa (Delaware) (USDE)	78.47
HOUSEHOLD FINANCE REALTY CORPORATION OF NEVADA	100	Usa (Delaware) (USDE)	78.47
HOUSEHOLD FINANCE REALTY CORPORATION OF NEW YORK	100	Usa (Delaware) (USDE)	78.47
HOUSEHOLD GLOBAL FUNDING INC.	100	Usa (Delaware) (USDE)	78.47
HOUSEHOLD INDUSTRIAL FINANCE COMPANY	100	Usa (Delaware) (USDE)	78.47
HOUSEHOLD INSURANCE GROUP INC.	100	Usa (Delaware) (USDE)	78.47
HOUSEHOLD INVESTMENT FUNDING INC.	100	Usa (Delaware) (USDE)	78.47
HOUSEHOLD IRELAND HOLDINGS INC.	100	Usa (Delaware) (USDE)	78.47
HOUSEHOLD LIFE INSURANCE COMPANY OF DELAWARE	100	Usa (Delaware) (USDE)	78.47
HOUSEHOLD REALTY CORPORATION	100	Usa (Delaware) (USDE)	78.47
HOUSEHOLD RECOVERY SERVICES CORPORATION	100	Usa (Delaware) (USDE)	78.47
HOUSEHOLD SERVICING INC.	100	Usa (Delaware) (USDE)	78.47
HSBC - GR CORP.	100	Usa (Delaware) (USDE)	78.47
HSBC AFFINITY CORPORATION I	100	Usa (Delaware) (USDE)	78.47
HSBC AMERICAS CORPORATION	100	Usa (Delaware) (USDE)	78.47
HSBC AUTO ACCOUNTS INC.	100	Usa (Delaware) (USDE)	78.47
HSBC AUTO CREDIT INC.	100	Usa (Delaware) (USDE)	78.47
HSBC BRIDGETOWN INVESTMENTS	100	Usa (Delaware) (USDE)	78.47
HSBC BUSINESS CREDIT	100	Usa (Delaware) (USDE)	78.47
HSBC CAPITAL	100	Usa (Delaware) (USDE)	78.47
HSBC COLUMBIA FUNDING LLC	100	Usa (Delaware) (USDE)	78.47
HSBC CONSUMER LENDING	100	Usa (Delaware) (USDE)	78.47
HSBC CREDIT CENTER INC.	100	Usa (Delaware) (USDE)	78.47
HSBC FINANCE CAPITAL TRUST IX	100	Usa (Delaware) (USDE)	78.47
HSBC FINANCE CORPORATION	100	Usa (Delaware) (USDE)	78.47
HSBC FUNDING	100	Usa (Delaware) (USDE)	78.47
HSBC GRAMERCY FUNDING LLC	100	Usa (Delaware) (USDE)	78.47
HSBC HOME EQUITY LOAN CORPORATION II	100	Usa (Delaware) (USDE)	78.47
HSBC INSURANCE AGENCY	100	Usa (Delaware) (USDE)	78.47
HSBC INSURANCE COMPANY OF DELAWARE	100	Usa (Delaware) (USDE)	78.47
HSBC INTERNATIONAL INVESTMENTS CORPORATION	100	Usa (Delaware) (USDE)	78.47
HSBC INVESTMENT CORPORATION	100	Usa (Delaware) (USDE)	78.47
HSBC JADE LIMITED PARTNERSHIP	100	Usa (Delaware) (USDE)	78.47
HSBC LOGAN HOLDINGS USA LLC	100	Usa (Delaware) (USDE)	78.47
HSBC MARKETS	100	Usa (Delaware) (USDE)	78.47
HSBC MCKINLEY FINANCE LLC	100	Usa (Delaware) (USDE)	78.47
HSBC MORTGAGE CORPORATION	100	Usa (Delaware) (USDE)	78.47
HSBC MORTGAGE SERVICES INC.	100	Usa (Delaware) (USDE)	78.47
HSBC MORTGAGE SERVICES WAREHOUSE LENDING INC.	100	Usa (Delaware) (USDE)	78.47
HSBC NORTH AMERICA CAPITAL TRUST I	100	Usa (Delaware) (USDE)	78.47
HSBC NORTH AMERICA HOLDINGS INC.	100	Usa (Delaware) (USDE)	78.47
HSBC NORTH AMERICA INC.	100	Usa (Delaware) (USDE)	78.47
HSBC OVERSEAS CORPORATION	100	Usa (Delaware) (USDE)	78.47
HSBC OVERSEAS INVESTMENTS CORPORATION	100	Usa (Delaware) (USDE)	78.47
HSBC PAY SERVICES INC.	100	Usa (Delaware) (USDE)	78.47
HSBC RANIER INVESTMENTS LLC	100	Usa (Delaware) (USDE)	78.47
HSBC REALTY CREDIT CORPORATION	100	Usa (Delaware) (USDE)	78.47
HSBC RECEIVABLES ACQUISITION COMPANY I	100	Usa (Delaware) (USDE)	78.47
HSBC RECEIVABLES ACQUISITION CORPORATION	100	Usa (Delaware) (USDE)	78.47
HSBC RECEIVABLES FUNDING INC. I	100	Usa (Delaware) (USDE)	78.47
HSBC RETAIL SERVICES INC.	100	Usa (Delaware) (USDE)	78.47
HSBC SECURITIES	100	Usa (Delaware) (USDE)	78.47
HSBC TECHNOLOGY & SERVICES	100	Usa (Delaware) (USDE)	78.47
HSBC USA CAPITAL TRUST I	100	Usa (Delaware) (USDE)	78.47
HSBC USA CAPITAL TRUST II	100	Usa (Delaware) (USDE)	78.47
HSBC USA CAPITAL TRUST III	100	Usa (Delaware) (USDE)	78.47
HSBC USA CAPITAL TRUST V	100	Usa (Delaware) (USDE)	78.47
HSBC USA CAPITAL TRUST VI	100	Usa (Delaware) (USDE)	78.47
HSBC USA CAPITAL TRUST VII	100	Usa (Delaware) (USDE)	78.47
HSBC WHITNEY FINANCE LLC	100	Usa (Delaware) (USDE)	78.47
HSI ASSET SECURITIZATION CORPORATION	100	Usa (Delaware) (USDE)	78.47
HULL 752 CORPORATION	100	Usa (Delaware) (USDE)	78.47
HULL 753 CORPORATION	100	Usa (Delaware) (USDE)	78.47
METRIS RECEIVABLES INC.	100	Usa (Delaware) (USDE)	78.47
MORTGAGE ONE CORPORATION	100	Usa (Delaware) (USDE)	78.47
MORTGAGE TWO CORPORATION	100	Usa (Delaware) (USDE)	78.47
MTX LLC	100	Usa (Delaware) (USDE)	78.47
NEIL CORPORATION	100	Usa (Delaware) (USDE)	78.47
NINETEENTH HFC LEASING CORPORATION	100	Usa (Delaware) (USDE)	78.47
NORTHRIDGE PLAZA INC.	100	Usa (Delaware) (USDE)	78.47
PALATINE HILLS LEASING INC.	100	Usa (Delaware) (USDE)	78.47
PHL ONE INC.	100	Usa (Delaware) (USDE)	78.47
PROPERTY OWNER	100	Usa (Delaware) (USDE)	78.47
R/CLIP CORP.	100	Usa (Delaware) (USDE)	78.47
REAL ESTATE COLLATERAL MANAGEMENT COMPANY	100	Usa (Delaware) (USDE)	78.47
SILLIMAN CORPORATION	100	Usa (Delaware) (USDE)	78.47
SIXTH HFC LEASING CORPORATION	100	Usa (Delaware) (USDE)	78.47
THIRTEENTH HFC LEASING CORPORATION	100	Usa (Delaware) (USDE)	78.47
WASCO PROPERTIES INC.	100	Usa (Delaware) (USDE)	78.47
HSBC RECEIVABLES FUNDING INC. II	99	Usa (Delaware) (USDE)	78.47
BENEFICIAL FLORIDA INC.	98	Usa (Delaware) (USDE)	78.47
HOUSEHOLD TAX MASTERS ACQUISITION CORPORATION	98	Usa (Delaware) (USDE)	78.47
HSBC TAXPAYER FINANCIAL SERVICES INC.	98	Usa (Delaware) (USDE)	78.47
SPE 1 2005 MANAGER INC.	98	Usa (Delaware) (USDE)	78.47
SPE 1 MANAGER INC.	98	Usa (Delaware) (USDE)	78.47
HSBC TFS I 2005 LLC	97	Usa (Delaware) (USDE)	78.47
HSBC TFS I LLC	97	Usa (Delaware) (USDE)	78.47
HOUSEHOLD SERVICING LIMITED PARTNERSHIP	91	Usa (Delaware) (USDE)	78.47
HSBC CARD SERVICES INC.	91	Usa (Delaware) (USDE)	78.47
GPIF CO-INVESTMENT LLC	80	Usa (Delaware) (USDE)	78.47
BURTS BEES INC.	65	Usa (Delaware) (USDE)	78.47
COMPRESSION POLYMERS HOLDING I LP	48	Usa (Delaware) (USDE)	78.47
VYCOM CORP	48	Usa (Delaware) (USDE)	78.47
HCO HOLDING I CORPORATION	47	Usa (Delaware) (USDE)	78.47
HENRY COMPANY	47	Usa (Delaware) (USDE)	78.47
QZ ACQUISITION USA INC.	36	Usa (Delaware) (USDE)	78.47
NANOSTREAM INC.	28	Usa (Delaware) (USDE)	78.47
HSBC TFS II 2005 LLC	19	Usa (Delaware) (USDE)	78.47
HSBC TFS II LLC	19	Usa (Delaware) (USDE)	78.47
HSBC CARD SERVICES	7	Usa (Delaware) (USDE)	78.47
GREAT AMERICAN ACCESSORIES INC.	2	Usa (Delaware) (USDE)	78.47
B.I.G. INSURANCE AGENCY INC.	100	Usa (Not Delaware) (US)	44.53
BEACHHOUSE PROPERTIES INC.	100	Usa (Not Delaware) (US)	44.53
BENEFICIAL CONSUMER DISCOUNT COMPANY	100	Usa (Not Delaware) (US)	44.53
BENEFICIAL DIRECT INC.	100	Usa (Not Delaware) (US)	44.53
BENEFICIAL FINANCIAL I INC.	100	Usa (Not Delaware) (US)	44.53
BENEFICIAL MANAGEMENT HEADQUARTERS INC.	100	Usa (Not Delaware) (US)	44.53
BENEFICIAL NEW YORK INC.	100	Usa (Not Delaware) (US)	44.53
BENEFICIAL TENNESSEE INC.	100	Usa (Not Delaware) (US)	44.53
BENEFICIAL WEST VIRGINIA INC.	100	Usa (Not Delaware) (US)	44.53
BENEFICIAL WYOMING INC.	100	Usa (Not Delaware) (US)	44.53
BFC INSURANCE AGENCY OF NEVADA	100	Usa (Not Delaware) (US)	44.53
CAL-PACIFIC SERVICES INC.	100	Usa (Not Delaware) (US)	44.53
CAPCO/COVE INC.	100	Usa (Not Delaware) (US)	44.53
CAPITAL FINANCIAL SERVICES INC.	100	Usa (Not Delaware) (US)	44.53
CBS/HOLDINGS INC.	100	Usa (Not Delaware) (US)	44.53
CROSS ZOU HOLDING CORP.	100	Usa (Not Delaware) (US)	44.53
CROSS-LA REALTY INC.	100	Usa (Not Delaware) (US)	44.53
CROSSTURKEY INC.	100	Usa (Not Delaware) (US)	44.53
DECISION ONE MORTGAGE COMPANY LLC	100	Usa (Not Delaware) (US)	44.53
EAGLE ROCK HOLDINGS INC.	100	Usa (Not Delaware) (US)	44.53
ELLENVILLE HOLDINGS INC.	100	Usa (Not Delaware) (US)	44.53
FIRST CENTRAL NATIONAL LIFE INSURANCE COMPANY OF NEW YORK	100	Usa (Not Delaware) (US)	44.53
GILLER LTD.	100	Usa (Not Delaware) (US)	44.53
HALBIS CAPITAL MANAGEMENT	100	Usa (Not Delaware) (US)	44.53
HARBOUR ISLAND INC.	100	Usa (Not Delaware) (US)	44.53
HFC AGENCY OF MISSOURI INC.	100	Usa (Not Delaware) (US)	44.53
HFS INVESTMENTS INC.	100	Usa (Not Delaware) (US)	44.53
HIGH MEADOW MANAGEMENT INC.	100	Usa (Not Delaware) (US)	44.53
HONG KONG INTERNATIONAL TRADE FINANCE	100	Usa (Not Delaware) (US)	44.53
HOUSEHOLD COMMERCIAL OF CALIFORNIA INC.	100	Usa (Not Delaware) (US)	44.53
HOUSEHOLD FINANCE CORPORATION OF ALABAMA	100	Usa (Not Delaware) (US)	44.53
HOUSEHOLD FINANCE CORPORATION OF WEST VIRGINIA	100	Usa (Not Delaware) (US)	44.53
HOUSEHOLD FINANCE INDUSTRIAL LOAN COMPANY	100	Usa (Not Delaware) (US)	44.53
HOUSEHOLD FINANCE INDUSTRIAL LOAN COMPANY OF IOWA	100	Usa (Not Delaware) (US)	44.53
HOUSEHOLD FINANCIAL CENTER INC.	100	Usa (Not Delaware) (US)	44.53
HOUSEHOLD INDUSTRIAL LOAN COMPANY OF KENTUCKY	100	Usa (Not Delaware) (US)	44.53
HOUSEHOLD INSURANCE AGENCY INC. NEVADA	100	Usa (Not Delaware) (US)	44.53
HOUSEHOLD INSURANCE GROUP HOLDING COMPANY	100	Usa (Not Delaware) (US)	44.53
HOUSEHOLD LIFE INSURANCE CO. OF ARIZONA	100	Usa (Not Delaware) (US)	44.53
HOUSEHOLD LIFE INSURANCE COMPANY	100	Usa (Not Delaware) (US)	44.53
HOUSEHOLD POOLING CORPORATION	100	Usa (Not Delaware) (US)	44.53
HOUSEKEY FINANCIAL CORPORATION	100	Usa (Not Delaware) (US)	44.53
HSBC AFS	100	Usa (Not Delaware) (US)	44.53
HSBC AUTO FINANCE INC.	100	Usa (Not Delaware) (US)	44.53
HSBC AUTO RECEIVABLES CORPORATION	100	Usa (Not Delaware) (US)	44.53
HSBC BANK NEVADA NATIONAL ASSOCIATION	100	Usa (Not Delaware) (US)	44.53
HSBC BANK USA NATIONAL ASSOCIATION	100	Usa (Not Delaware) (US)	44.53
HSBC DIAMOND TRUST	100	Usa (Not Delaware) (US)	44.53
HSBC GLOBAL ASSET MANAGEMENT	100	Usa (Not Delaware) (US)	44.53
HSBC GRAMERCY FUNDING LLC	100	Usa (Not Delaware) (US)	44.53
HSBC INTERNATIONAL FINANCE CORPORATION	100	Usa (Not Delaware) (US)	44.53
HSBC INVESTMENTS	100	Usa (Not Delaware) (US)	44.53
HSBC MOTOR CREDIT	100	Usa (Not Delaware) (US)	44.53
HSBC PRIVATE BANK INTERNATIONAL	100	Usa (Not Delaware) (US)	44.53
HSBC REINSURANCE	100	Usa (Not Delaware) (US)	44.53
HSBC RETAIL CREDIT	100	Usa (Not Delaware) (US)	44.53
HSBC SECURITIES SERVICES	100	Usa (Not Delaware) (US)	44.53
HSBC TECHNOLOGIES INC.	100	Usa (Not Delaware) (US)	44.53
HSBC TRUST COMPANY	100	Usa (Not Delaware) (US)	44.53
HSBC USA INC.	100	Usa (Not Delaware) (US)	44.53
KATONAH CLOSE CORP.	100	Usa (Not Delaware) (US)	44.53
MACRAY CORPORATION	100	Usa (Not Delaware) (US)	44.53
MM MOORING #2 CORP.	100	Usa (Not Delaware) (US)	44.53
OAKWOOD HOLDINGS INC.	100	Usa (Not Delaware) (US)	44.53
ONE MAIN STREET INC.	100	Usa (Not Delaware) (US)	44.53
PARGEN CORPORATION	100	Usa (Not Delaware) (US)	44.53
PHL FOUR INC.	100	Usa (Not Delaware) (US)	44.53
PHL THREE INC.	100	Usa (Not Delaware) (US)	44.53
RAPAL ASSOCIATES LIMITED PARTNERSHIP	100	Usa (Not Delaware) (US)	44.53
RENAISSANCE BANKCARD SERVICES OF KENTUCKY	100	Usa (Not Delaware) (US)	44.53
REPUBLIC NEW YORK SECURITIES CORPORATION	100	Usa (Not Delaware) (US)	44.53
REPUBLIC OVERSEAS CAPITAL CORPORATION	100	Usa (Not Delaware) (US)	44.53
SERVICE MANAGEMENT CORPORATION	100	Usa (Not Delaware) (US)	44.53
SILLIMAN ASSOCIATES LIMITED PARTNERSHIP	100	Usa (Not Delaware) (US)	44.53
SOUTHWEST TEXAS GENERAL AGENCY INC.	100	Usa (Not Delaware) (US)	44.53
SUB 1-211 INC.	100	Usa (Not Delaware) (US)	44.53
SUB 2-211 INC.	100	Usa (Not Delaware) (US)	44.53
THIRD HFC LEASING CORPORATION	100	Usa (Not Delaware) (US)	44.53
TIMBERLINK SETTLEMENT SERVICES	100	Usa (Not Delaware) (US)	44.53
TOWER HOLDING NEW YORK CORP.	100	Usa (Not Delaware) (US)	44.53
TOWER L.I.C. CORP.	100	Usa (Not Delaware) (US)	44.53
TOWER PIERREPONT CORP.	100	Usa (Not Delaware) (US)	44.53
TPBC ACQUISITION CORP.	100	Usa (Not Delaware) (US)	44.53
TRUMBALL MANAGEMENT INC.	100	Usa (Not Delaware) (US)	44.53
VALLEY PROPERTIES CORPORATION	100	Usa (Not Delaware) (US)	44.53
XDP INC.	100	Usa (Not Delaware) (US)	44.53
LAPAR ASSOCIATES LMITED PARTNERSHIP	99	Usa (Not Delaware) (US)	44.53
HSBC LAND TITLE AGENCY	55	Usa (Not Delaware) (US)	44.53
DB ARTEMIS INVESTMENTS GP	49	Usa (Not Delaware) (US)	44.53
COMPRESSION POLYMERS CORP.	48	Usa (Not Delaware) (US)	44.53
HSBC CAPITAL CANADA ROCKLAND HOLDING CO.	40	Usa (Not Delaware) (US)	44.53
CHATTANOOGA VALLEY ASSOCIATES	33	Usa (Not Delaware) (US)	44.53
CHATTANOOGA VALLEY CORPORATION	33	Usa (Not Delaware) (US)	44.53
KII HOLDING CORPORATION	28	Usa (Not Delaware) (US)	44.53
KRANSON INDUSTRIES	28	Usa (Not Delaware) (US)	44.53
SPARKICE.COM INC.	11	Usa (Not Delaware) (US)	44.53
NUHEAT INC.	6	Usa (Not Delaware) (US)	44.53
HSBC BANK	100	Vietnam (VN)	0
S.W.I.F.T.	100	Vietnam (VN)	0
VIETNAM TECHNOLOGICAL AND COMMERCIAL JOINT STOCK BANK	20	Vietnam (VN)	0
BAO VIET HOLDINGS	9	Vietnam (VN)	0