“HSBC has no appetite for direct exposure to virtual currencies and limited appetite to facilitate products or securities that derive their value from virtual currencies,” HSBC said in a statement.
Europe's largest bank faces pressure to turn its stated climate ambitions into targets.
The largest European bank has an ambitious plan to reduce annual costs to below $31 billion by 2022.
Established in 1865 in Hong Kong, London-based HSBC is one of the largest banks in the world with 40 million customers worldwide. It operates across 64 countries globally. Key regions include Asia, Europe, the Middle East and North Africa, and North America. United Kingdom and Hong Kong are the two largest markets for the bank. The bank offers retail, commercial and institutional banking, global banking and markets, wealth management, and private banking.
| Website: | www.hsbc.com |
| Email: | investorrelations@hsbc.com |
| Main Phone: | +44 2079918888 |
| Address: | 8 Canada Square |
| State: | QC |
| City / Town: | London |
| Country: | GB |
| Postal Code: | E14 5HQ |
| Exchange: | NYE |
| CEO: | Noel Quinn |
| Employees: | 231751 |
| NAICS: | Commercial Banking(522110) |
“HSBC has no appetite for direct exposure to virtual currencies and limited appetite to facilitate products or securities that derive their value from virtual currencies,” HSBC said in a statement.
Europe's largest bank faces pressure to turn its stated climate ambitions into targets.
The largest European bank has an ambitious plan to reduce annual costs to below $31 billion by 2022.
JPMorgan had been alone in having to hold extra capital equivalent to 2.5% of assets, but it has now joined Citigroup and HSBC in the next tier down that requires 2.0% in extra capital.
Europe's largest bank is seeking to flip its main source of income from interest rate to fee-based businesses.
Leaked suspicious activity reports (SARs) showed that banks often moved funds for companies that were registered in offshore havens and for whom the the ultimate owner of the account was unknown.
Europe's largest bank warned its capital reserves could deteriorate, its revenues would come under pressure and it faced heightened geopolitical risk.
“We could not pause the job losses indefinitely - it was always a question of ‘not if, but when’,” said CEO Noel Quinn.
A regulatory filing disclosed that the bank had flagged the potential breaches last year to AUSTRAC.
The new claims by Huawei relate to a five-year deferred prosecution agreement HSBC agreed to in 2012.
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