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 to start selling £25bn of toxic US debt

HSBC is preparing its first sale of sub-prime loans since the height of the financial crash, as Britain's largest bank begins to off-load more than $40bn (£25bn) of toxic US debt it still holds on its books.

The bank is planning to sell four sub-prime loan portfolios worth a total of $2.7bn in the next year, with hedge funds already expressing an interest. The disposals will mark the first time HSBC has sold any of its holding of sub-prime debt since the collapse of Lehman Brothers in September 2008 and is intended to kick off the sale of the $44.2bn of toxic debt still held by the bank.

Senior Management Appointments

HSBC Holdings plc announces that Paul Thurston will retire as a Group Managing Director and Chief Executive of Retail Banking and Wealth Management (RBWM), after a distinguished 37-year career with the HSBC Group, on 31 December 2012.

John Flint is appointed a Group Managing Director and will succeed Thurston as Chief Executive of RBWM, one of HSBC's four global businesses, with effect from 1 January 2013. Guilherme Lima will succeed Flint as Group Head of Strategy and Planning and Chief of Staff to the Group Chief Executive.

Separately, Antonio Losada (57), Chief Executive of Latin America and the Caribbean since 1 February 2012, has been appointed a Group Managing Director with effect from 1 December 2012. Losada has been with the HSBC Group since 1973 and has served in Brazil and as CEO of Argentina.

Interim dividend exchange rates

US$0.09 per share;

approximately HK$0.697500 per share; or

approximately GBP0.056042 per share.

COMPLETION OF SALE OF CENTRAL AMERICAN BANKING OPERATIONS

*** Businesses sold for a consideration of US$0.8bn ***


On 24 January 2012, HSBC Bank (Panama) S.A., an indirect, wholly owned subsidiary of HSBC Holdings plc ("HSBC"), announced that it had entered into an agreement to sell the whole of its banking operations in Costa Rica, El Salvador and Honduras to Banco Davivienda S.A., a Colombian-listed banking group (the "Disposals")

The Disposals, which have received all regulatory and other approvals, have now been completed.

HSBC announces settlements with authorities

HSBC has reached agreement with United States authorities in relation to investigations regarding inadequate compliance with anti-money laundering and sanctions laws. This includes a Deferred Prosecution Agreement (DPA) with the US Department of Justice. HSBC has also reached agreement to achieve a global resolution with all other US government agencies that have investigated HSBC's past conduct related to these issues1 and anticipates finalising an undertaking with the United Kingdom Financial Services Authority shortly.

Under these agreements, HSBC will make payments totaling US$1.921bn, continue to cooperate fully with regulatory and law enforcement authorities, and take further action to strengthen its compliance policies and procedures.

Just over a Billion quid in real money then eh? Wonder if thats the end of it though with this lot?

Who knows with the bloody yanks - I reckon it will end the day blue (or red).

Yes, If thats the end I agree.. But? Perhaps let things die down a bit I suppose.

Harry, I've held these several times this year - and currently hold from 567.

All depennds on whether they have closed down their chinese laundry!

The SP. is actually holding up so far today, Now that the uncertainty has diminished.

Looking like a blue finish - 12 month high is 647.20p

I hope so.

HSBC Bank Malaysia pre-tax profits up 18.6%

StockMarketWire.com

HSBC Bank Malaysia's pre-tax profits for the nine months to the end of September rose by 18.6% to MYR1,193m.

Operating income grew to MYR2,267m - an increase of MYR187m or 9.0% - due to higher income from Islamic banking operations of MYR425m, an increase of MYR113m or 36.3% and higher net interest income of MYR958m, an increase of MYR80m or 9.2%.

Loan impairment charges and other credit risk provisions increased marginally by MYR6m or 3.3% while the cost efficiency ratio improved to 39.7% from 43.3%.

Total assets stood at MYR77.6bn - down from MYR79.9bn at 31 December but up from MYR73.0bn a year ago.

Core capital ratio and risk-weighted capital ratio remain strong at 9.4% and 12.9% respectively at 30 September 2012, higher than the 9.1% and 12.7% reported at 31 December 2011.

These have finally joined the club today.

http://www.bloomberg.com/news/2012-12-20/hsbc-judge-requests-reasons-to-approve-drug-money-accord.html?cmpid=yhoo

I see that is 2 days old, but even so - the yanks seem hell bent on destroying any British orientated business.

12 month high this morning @656.4p.

Skinny, in your post #183 I think you might be replying to Stan? I seem to be appearing in your subconscious these days! :o)

Harry - looks like it! :-)