14.10.2008 - HSBC has 'no plans' to use Government funds
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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