HSBC
US and European firms in bid for LCH
A consortium of major US and European financial institutions is lining up a bid for London-based derivatives clearing house LCH.Clearnet. Deutsche Bank is acting as adviser on the acquisition, as well as being part of the bidding group.
Funding fears
Editor's letter
Banks cut staff in Europe and US
More European and US banks joined the growing list of institutions to cut staff in the wake of the financial crisis.
HSBC Q3 profits up on Q3 2007
HSBC's third-quarter profits rose this year, despite a $271 million loss on its US operations and a total of $7.9 billion in writedowns.
CDS spreads widen despite bailout approval
Credit default swaps (CDSs) on a number of major dealers widened yesterday in spite of the US Senate vote on a revised $700 billion financial rescue plan.
CDS spreads push out as bailout drags on
The cost of protection on some of the world’s largest dealers surged on Friday as uncertainty grew over the US government’s $700 billion plan to purchase devalued assets from financial institutions.
Bank monoline exposures creep up in second quarter
Second-quarter results yielded further markdowns at major dealers due to the increasing counterparty risk posed by monoline insurers.
HSBC global profits growth undermined by US losses
HSBC has announced a rise in global profits for the first three months of 2008 over the same period in 2007, despite heavy losses at the bank's US arm, where loan impairments and other charges sent pre-tax profits plunging by 39%.
HSBC hit by fraud attempt
Daily news headlines
Asia Risk interdealer survey 2007: Dealers
Deutsche dethroned
HSBC plans $45 billion SIV restructuring
HSBC is to bail out two of its structured investment vehicles (SIVs), Cullinan and Asscher, blaming "the inability of most SIVs to fully roll over their senior funding in the form of commercial paper or medium-term notes" and "a continued decline in the…
HSBC takes $4.4 billion in write-downs on weak US credit
HSBC has reported a total of $4.4 billion in write-downs on its US consumer lending, mortgage and investment banking businesses.
HSBC and SAS launch Raptor project
Daily news headlines
HSBC CIBM creates European corporate liability group
HSBC Corporate, Investment Banking and Markets (CIBM) has established a European corporate liability solutions group, headed by Russell Schofield-Bezer.
The online frontier
2007 has been a year of online activism and banks have paid the price. Is there an emerging reputational risk threat posed by bloggers and discussion forums? Peter Madigan investigates
HSBC launches climate change indexes
HSBC's Corporate, Investment Banking and Markets division (CIBM) has launched an index to track the stock market performance of companies that stand to profit from the challenges posed by climate change, alongside four investable sub-indexes.
Olson and Goldshmidt join RBC in emerging markets
RBC Capital Markets has appointed Eric Olson and Ron Goldshmidt in emerging markets trading.
Lloyds TSB makes more derivatives hires
Lloyds TSB has added four senior staff to its London derivatives team.
Lloyds TSB makes institutional derivatives sales hires
Lloyds TSB has recruited Peter McGloughlin and Ian Shaw to its team selling derivatives to financial institutions.
HSBC creates Asia-Pacific structured credit product head
Matthew Cannon, HSBC’s London-based head of structured credit marketing for Europe, the Middle East and Africa, has been appointed to a newly created role.
HSBC plans record-breaking SIV
HSBC has launched the largest ever structured investment vehicle (SIV) launch, with an initial portfolio of over $6 billion, called Asscher Finance.