HSBC USA Inc 06 10-K Pt 5/10

HSBC Holdings PLC
05 March 2007


                                                                      Exhibit 21

                          Subsidiaries of HSBC USA Inc.

U.S. Affiliates:

                                                                USA or
                                                                US State
Names of Subsidiaries                                           Organized
---------------------                                           ---------

CC&H Holdings LLC                                               Delaware
Delaware Credit Corp. (USA)                                     Delaware
Giller Ltd.                                                     New York
GWML Holdings, Inc.                                             Delaware
Delaware Securities Processing Corp.                            Delaware
HSBC Bank USA, National Association                             USA
Capco/Cove, Inc.                                                New York
Card-Flo #1, Inc.                                               Delaware
Card-Flo #3, Inc.                                               Delaware
CBS/Holdings, Inc.                                              New York
Eagle Rock Holdings, Inc.                                       New York
Ellenville Holdings, Inc.                                       New York
F-Street Holdings, Inc.                                         Delaware
Fairways Holdings, Inc.                                         Delaware
H.W.D. Real Estate Co., Inc.                                    New York
High Meadow Management, Inc.                                    New York
HSBC AFS (USA) LLC                                              New York
HSBC Business Credit (USA) Inc.                                 Delaware
HSBC Financial Services Corporation (USA)                       Delaware
Identrus LLC                                                    Delaware
HSBC Insurance Agency (USA) Inc.                                New York
HSBC Investment Corporation (Delaware)                          Delaware
HSBC Funding (USA) Inc. V                                       Delaware
HSBC Funding (USA) Inc. VI                                      Delaware
HSBC Funding (USA) Inc. VII                                     Delaware
HSBC Private Label Acquisition Corporation (USA)                Delaware
HSBC Investments (USA) Inc.                                     New York
HSBC Investor PBRS Corporation (Delaware)                       Delaware
HSBC Land Title Holdco (USA) Inc.                               Delaware
HSBC Land Title Agency (Florida), LLC                           Florida
HSBC Mortgage Corporation (USA)                                 Delaware
HSBC Mortgage Investors Corporation (Delaware)                  Delaware
HSBC Motor Credit (USA) Inc.                                    Delaware
HSBC Overseas Investments Corporation (New York)                Maryland
HSBC Overseas Corporation (Delaware)                            Delaware
HSBC International Finance Corporation (Delaware)               USA
HSBC Private Bank International                                 USA
HSBC International Investments Corporation (Delaware)           Delaware
HSBC Realty Credit Corporation (USA)                            Delaware
Alexandria Holdings, Inc.                                       Delaware
Cabot Park Holdings, Inc.                                       Delaware
HSBC Land Title Agency (USA) LLC                                New York
Midtown Land Services Agency LLC                                New York
MM Mooring #2 Corp.                                             New York
Northridge Plaza, Inc.                                          Delaware
HSBC Reinsurance (USA) Inc.                                     Vermont
HSBC Retail Credit (USA) Inc.                                   New York
HSBC Services Corporation (USA)                                 New Jersey
Katonah Close Corp.                                             New York
London Marine Midland Overseas Corporation                      Delaware
Marmid Aircraft Leasing Corporation                             New York
Oakwood Holdings, Inc.                                          New York
Property Owner (USA) LLC                                        Delaware
Tower Holding New York Corp.                                    New York
Beachhouse Properties, Inc.                                     New York

                                       223



                                                                USA or
                                                                US State
Names of Subsidiaries                                           Organized
---------------------                                           ---------

Cross Zou Holding Corp.                                         New York
Cross-LA Realty, Inc.                                           Louisiana
Crossturkey, Inc.                                               New York
Sub 1-211, Inc.                                                 Pennsylvania
Sub 2-211, Inc.                                                 Pennsylvania
Tower Emmons Corp.                                              New York
Tower Houma Corp.                                               Louisiana
Tower L.I.C. Corp.                                              New York
Tower Pierrepont Corp.                                          New York
West 56th and 57th Street Corp.                                 New York
TPBC Acquisition Corp.                                          Florida
Trumball Management, Inc.                                       New York
HSBC National Bank USA                                          United States
HSBC Payment Services (USA) Inc.                                Delaware
HSBC Trust Company (Delaware), National Association             United States
HSBC USA Capital Trust I                                        Delaware
HSBC USA Capital Trust II                                       Delaware
HSBC USA Capital Trust III                                      Delaware
HSBC USA Capital Trust IV                                       Delaware
HSBC USA Capital Trust V                                        Delaware
HSBC USA Capital Trust VI                                       Delaware
HSBC USA Capital Trust VII                                      Delaware
Jefferies Partners Opportunity Fund, LLC                        USA
Marine Midland Mortgage (U.S.A.), Inc.                          New York
One Main Street, Inc.                                           Florida
R/CLIP Corp.                                                    Delaware
Republic New York Securities Corporation                        Maryland
Republic Overseas Capital Corporation                           New York
Timberlink Settlement Services (USA) Inc.                       Delaware
Wealth and Tax Advisory Services, Inc.                          Delaware
Wells Fargo HSBC Trade Bank, N.A.                               USA

Non-U.S. Affiliates:

                                                                Country
Names of Subsidiaries                                           Organized
---------------------                                           ---------

HSBC Private Bank (Suisse) SA                                   Switzerland
HSBC Investment Holdings (Guernsey) Limited                     United Kingdom
HRMG Nominees Limited                                           United Kingdom
HSBC Management (Guernsey) Limited                              United Kingdom
HSBC Republic Investments Limited                               United Kingdom
Republic New York Holdings (UK)                                 United Kingdom
HSBC Financial Services (Uruguay) S.A.                          Montevideo
Republic Bullion (Far East) Limited                             Hong Kong
London Precious Metals Clearing Limited                         United Kingdom
HSBC Precious Metals (Australia) Limited                        New South Wales
HSBC Life Insurance (Cayman) Limited                            Cayman Islands
HSBC Alternative Investments (Guernsey) Limited                 United Kingdom

                                       224


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