Status as a core member of the HSBC group High systemic importance and resilient market leader position in Hong Kong Rich customer deposit base Diversified revenue sources Solid earnings capacity Increasing exposure to emerging markets with higher economic risk Rapid loan growth in 2010 Standard&Poor's bases its ratings on HSBC Asia Pacific on the bank's "very strong" business position, "adequate" capital and earnings, "adequate" risk position, "above average" funding, and "strong" liquidity, as our criteria define these terms. The counterparty credit rating is one notch higher than the stand-alone credit profile (SACP), reflecting our view of a high likelihood of government support, due to HSBC Asia Pacific's high systemic importance in Hong Kong and our assessment of the
