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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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Posts Tagged ‘ HSBC Holdings ’

23 June
Posted in History
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Household Life Insurance as part of HSBC Finance

We are not interested in ratings by A.M. Best. What we are interested in is Household Life, who owns it, and how many holding companies one must go through. Household Life is one of the last remaining reflections of Household International, owned by HSBC since 1993. A.M. Best Co. has [...]

2 November
Posted in General News
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Credit card debt crushes HSBC and others

As if subprime losses are not enough, big banks including HSBC know they are pushing the limit of credibility on credit card balances. Writeoffs are up 48 percent. The largest credit-card banks each set aside $1 billion to $3.5 billion in the third quarter for losses on card loans as [...]