HSBC reclassifies debt to bolster Tier 2 capital

HSBC took steps to recognise billions in debt securities as eligible regulatory capital in May, as part of an effort to strengthen its buffers ahead of the implementation of the EU’s second Capital Requirements Regulation (CRR II).

The changes translate to a 40 basis point improvement in the UK bank’s total capital ratio, which would have been 21.1% at quarter-end had they been made before the reporting cutoff date of March 31.

The reclassification affected $6.7 billion in bonds issue by HSBC

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