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HSBC is cutting back in the U.S. after its 2003 purchase of Household International Inc. required it to set aside more than $65 billion for bad loans

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HSBC’s Green does not US bank like stress tests

At this to the list of things HSBC doesn’t like, would do in another way, or could do in a better way:

The U.S. strategy was “not the way to instill confidence in the process,” Stephen Green, chairman of HSBC Holdings PLC, said in an interview Monday, noting the haggling between banks and regulators.

Some analysts say openness boosted the credibility of the U.S. stress tests, and last week’s results, in the eyes of some analysts and investors. HSBC, on the other hand, prefers the discreet approach. (Discreet can also be defined as finding a way to cover things up in a back-room deal. Failing that, discreet means paying the fine without admitting responsibility.)

Posted By Timothy Blake

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UPDATE NOTE: HSBC car loans were sold to Santander USA in 2010 :: Most HSBC credit cards became Capital One credit cards in 2012 :: HSBC horrible predatory home mortgages are in run-off