Headquartered in London, HSBC is one of the largest banking and financial services organisations in the world. HSBCs international network comprises over 9,800 offices in 77 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. Companby has listings on the London, Hong Kong, New York, Paris and Bermuda stock exchanges. Through an international network linked by advanced technology, including a rapidly growing e-commerce capability, HSBC provides a comprehensive range of financial services: personal financial services; commercial banking; corporate, investment banking and markets; private banking; and other activities.

            Red = 25 day moving average.           Green = 200 day moving average.

HSBC BANK USA, N.A. TO TRANSFER RETAIL MORTGAGE PROCESSING AND SERVICING OPERATIONS
***HSBC to continue providing mortgages through its U.S. branch network***
***PHH Mortgage engaged to service HSBC's prime mortgage portfolio***
***Up to 400 HSBC mortgage employees to transfer to PHH Mortgage***


HSBC Bank USA, N.A. ('HSBC'), a wholly-owned subsidiary of HSBC Holdings plc, has entered into a strategic relationship with industry leader PHH Mortgage Corporation ('PHH Mortgage'), a subsidiary of PHH Corporation, to manage HSBC's mortgage processing and servicing operations.

Under the terms of the agreement, PHH Mortgage will provide HSBC with mortgage originations processing services as well as sub-servicing of the bank's prime mortgage loan portfolio and serviced for others portfolio. There is no consideration payable or transfer of assets involved but HSBC will pay fees to PHH Mortgage for the services provided in accordance with the agreement. As at 31 March 2012 the unpaid principal balances of the owned prime mortgage loan portfolio and the serviced for others portfolio were US$15.5bn and US$36.6bn, respectively.

The relationship allows HSBC to leverage PHH Mortgage's mortgage platform capabilities. HSBC will continue to offer mortgages through its branch network, and its in-house loan officer sales force will maintain its focus on originating mortgages for HSBC customers, including Premier clients. Servicing of existing customers1 will not be affected and PHH Mortgage and HSBC are working closely together to ensure seamless service throughout the transition.

The agreement will see approximately 400 HSBC employees given the opportunity to transfer to PHH Mortgage. Further information on the transitional arrangements will be communicated to affected staff and other stakeholders from today.

"I would like to take this opportunity to thank the HSBC mortgage team for the significant contribution they have made over the years," said Irene Dorner, President and CEO, HSBC USA. "This agreement is a continuation of HSBC's strategy to reposition our U.S. business and ensures we manage our mortgage activities most efficiently. We look forward to this new relationship with PHH Mortgage and the outstanding support they will provide."

The transfer of these operations to PHH Mortgage is expected to complete in the first quarter of 2013.

HSBC to issue trading update

HSBC profit up on strong investment bank, cost cuts
http://www.reuters.com/article/2012/05/08/hsbc-results-idUSWLA763920120508?feedType=RSS&feedName=financialsSector&rpc=43

09 May HSBC Holdings PLC HSBA Goldman Sachs Conviction Buy 547.05 800.00 820.00 Retains

800p SP target.

CONVICTION BUY

STATEMENT


HSBC Latin America Holdings (UK) Limited, together with other wholly owned subsidiaries of HSBC Holdings plc, confirms that it is in discussions regarding the possible sale of its operations in Colombia, Peru, Uruguay and Paraguay.

HSBC will make a further announcement if or when appropriate.

HSBC AGREES TO SELL ITS BUSINESSES IN COLOMBIA, PERU, URUGUAY AND PARAGUAY

HSBC Latin America Holdings (UK) Limited, together with other wholly owned subsidiaries of HSBC Holdings plc ('HSBC Group companies'1), has entered into an agreement with the Colombian banking entity controlled by the Gilinski Group2, Banco GNB Sudameris S.A., to sell the HSBC Group's businesses in Colombia, Peru, Uruguay and Paraguay for a total consideration of US$400m in cash, subject to adjustment to reflect the net asset value in each of the businesses at completion.

These transactions are subject to the requisite regulatory approvals in each jurisdiction, as well as other conditions. The sales of the businesses in Colombia and Peru are expected to complete in the fourth quarter of 2012 and the sales of the businesses in Uruguay and Paraguay are expected to complete in the first quarter of 2013.

These transactions represent further progress in the execution of the HSBC Group strategy. Antonio Losada, President and CEO of HSBC Latin America and the Caribbean, said: "We are pleased to have reached this agreement with Banco GNB Sudameris as we seek to focus on our operations where we see the greatest potential for sustainable growth for HSBC. I would like to thank the management teams and employees for their dedication and wish them every success for the future."

At 31 December 2011, the businesses to be sold had 62 branches across the four countries and a gross asset value of US$4.4bn.

UPGRADE UPGRADE UPGRADE UPGRADE UPGRADE

17 May HSBC Holdings PLC HSBA Investec Buy 529.35 600.00 - Upgrades

600p SP target.

HSBC is probably the safest bank in the world, some believe that it is even better than European central bank.

only because they don't know the extent of their bad debts which are unprovided.

Nearly back to £5 a share and where I'll accumulate from...

reports suggest they are looking to sell their UK retail business(Midland Bank as was) and slope off to HK.

SALE OF UPSTATE NEW YORK RETAIL BRANCHES TO FIRST NIAGARA COMPLETES
***Branches sold for a consideration of US$0.9bn***
***HSBC to retain commercial banking operations in the Upstate NY market***


On 31 July 2011, HSBC announced that its wholly-owned subsidiary HSBC Bank USA, N.A. and other wholly-owned subsidiaries, had agreed to sell 195 retail branches, primarily in Upstate New York1, to First Niagara Bank, N.A. ("First Niagara")2.

The sale to First Niagara completed today. Consideration received, based on figures at 30 April 2012, was approximately US$0.9bn3.

At 30 April 2012, the branches held approximately US$14.5bn in deposits and over US$4bn of brokerage and insurance assets under management. As at 30 April 2012 the branches had outstanding loans to customers of US$2.2bn.

HSBC Bank USA, N.A. remains committed to serving and further developing corporate banking relationships in Upstate New York, including the provision of a full suite of international commercial banking offerings, including trade and cash management products and services.

Just bought a few more here @555.

I also think HSBC and LLoyds to close positive.

Just sold my recent purchase +15.

Taken a chance and bought back in here @551 - I was tempted with RBS @200 out of auction, but didn't.

Just closed again +16.

SANDY FLOCKHART TO RETIRE FROM
HSBC HOLDINGS BOARD

Sandy Flockhart will retire as a non-executive Director of HSBC Holdings plc, and from his position as Chairman of HSBC Bank plc, and as a Director of HSBC Bank Middle East Ltd on 31 July 2012.

Sandy Flockhart previously stepped down as an executive in April 2012 after a long career with HSBC, most recently as Chairman of HSBC's operations in Europe, the Middle East and Africa and, prior to that, Chief Executive Officer of The Hongkong and Shanghai Banking Corporation Limited and President and Group Managing Director with responsibility for Latin America and the Caribbean. He also served as Chief Executive Officer in Mexico, Managing Director in Saudi Arabia, Chief Executive Officer in Thailand and Chairman of HSBC Malaysia.

Douglas Flint, Group Chairman, said: "We are extremely grateful to Sandy for his dedicated and loyal service to HSBC over 37 years including the last four years on the HSBC Holdings Board and wish him well for the future, particularly in his continuing fight against cancer."

Note from Merrill Lynch:
"As we set out in our recent report 9 reasons we are bears of HSBC, we think consensus is c. 10% too high and whilst we believe management is doing a good job, revenue headwinds mean that its efforts to move toward targets could begin to look increasingly ambitious. With HSBC now a delivery stock, we think risk of disappointment is running high. We reiterate our Underperform rating and preference for StanChart (XTSDF; INR100.75; B-1-7), which has a superior capital position, is a purer play on emerging markets, has less execution risk and is cheaper on a P/E, in our view. We forecast U/L PBT of US$12.1bn in 1H12. This excludes a negative FVOD of US$2.6bn and gains on sale of US branches and cards of US$3.7bn and compares to company collected consensus on the same basis of US$12.7bn. For more details on our estimates see Table 1. 2Q12 could have seen some sizable headwinds
The first quarter at HSBC is typically strong. This was the case in 1Q12, as HSBC benefited from a strong bounce in GBM revenues, gilt gains, positive movements in non qualifying hedges (as bond yields increased) and the usual positive seasonality from HFC bad debts. Bad debts in Europe and HK were also running well below what is normally expected, in our view. With markets turning negative in 2Q12, we estimate GBM activity should have fallen and balance sheet management revenue should be a lot lower. With bond yields now below FY11 levels we believe a reversal of the NQH positive moves in 1Q should be expected and more. Given US seasonality, low levels of 1Q12 bad debts in Europe and comments from StanChart that bad debt was up in Asia, we think impairments could also be a headwind. FX has also been a particular feature in 2Q, with big movements in the Real and Rupee. With the outlook for 2H12e looking increasingly uncertain we think consensus forecasts look at risk and we reiterate our Underperform rating."

Digitallook: "HSBC has been sweltering in the spotlight recently after being found wanting in its money-laundering prevention checks. Barclays proved on Friday, however, that the market is prepared to overlook lapses in judgement if the numbers are good enough.

The number for HSBC to aim for (monday 30th - Interim results) is HK$12,144m, being the consensus estimate profit before tax. The market is expecting earnings per share of 48 cents, a dividend of 18 cents and, in all probability, an apology from HSBC management for past misdemeanours and oversights.

Analysts will be looking out for any increase in provisions for the mis-selling of payment protection insurance (PPI) claims, while wage inflation in Asia has been flagged in the past as a concern."