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Sovereign Wealth Funds Briefing - Categorized | Fund Management/Administration, Market

HSBC has ‘no plans’ to use Government funds

Posted on 14 October 2008

From Telegraph.co.uk: HSBC has reiterated it has “no plans” to take capital from the Government as shares in the bank rose 7.5pc following the announcement that £37bn would be pumped into rival banks Royal Bank of Scotland, HBOS and Lloyds TSB.

The bank, which was part of the bail-out package announced last week, revealed then that it would inject £750m of equity into its UK subsidiary from its “own resources” – meaning it met the Government’s required levels of tier one capital, the safest form, without having to sacrifice any stake in the company…… Full Article: Source


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