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HSBC said suffering from lack of information

  • 31 October, 2007 -
  • 2007 HSBC -
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HSBC Bank Canada has taken a small provision for losses in its own portfolio of frozen commercial paper, but chief executive officer Lindsay Gordon says that, like other investors, it’s suffering from a lack of information.

His comments stand out because HSBC is one of the 10 financial institutions that conceived the restructuring plan for the troubled third-party asset-backed commercial paper market – the so-called Montreal Accord. If any investor should have strong knowledge about the market, it’s HSBC. (see more)

Posted By Timothy Blake

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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

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