HSBC said suffering from lack of information
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)