Roundtable Discussion; The Future of Mineral Sands. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksHSBC Holdings Share News (HSBA)

Share Price Information for HSBC Holdings (HSBA)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 705.50
Bid: 707.20
Ask: 707.30
Change: 0.50 (0.07%)
Spread: 0.10 (0.014%)
Open: 706.50
High: 714.40
Low: 705.00
Prev. Close: 705.00
HSBA Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Moody's cut is 'backward looking', claims RBS

Fri, 22nd Jun 2012 07:48

Credit ratings agency Moody's has downgraded 15 major banks and financial instiutions, including the major lenders on Britain's High Street.Royal Bank of Scotland, Barclays, Lloyds and HSBC all got the downgrade treatment as the agency completed its review of the global banking sector. Barclays' rating was downgraded by two notches while the ratings of the others were ratcheted down by one level."All of the banks affected by today's actions have significant exposure to the volatility and risk of outsized losses inherent to capital markets activities," explained Greg Bauer, Moody's global banking managing director.The move will make it more expensive for the banks to tap the corporate bond markets so will not have been welcomed.Royal Bank of Scotland (RBS) said it disagreed with the ratings change, saying the change is "backward-looking and does not give adequate credit for the substantial improvements the group has made to its balance sheet, funding and risk profile."Nonetheless, the group believes the impacts of the downgrade are manageable. The amount of collateral that may have to be posted following this one notch downgrade by Moody's is estimated to be £9bn as of May 31st. RBS's long term rating was downgraded from A2 to A3, with a stable outlook. The short term rating was downgraded to P-2 from P-1 with a negative outlook, reflecting Moody's belief that the UK government will provide less support to big banks in the medium term. "The group continues to maintain a solid liquidity and funding position. RBS has completed its planned wholesale funding requirements for 2012," the RBS statement said.Britain's other part-nationalised lender, Lloyds Banking Group, was a tad more phlegmatic in its response to Moody'ss action.The short term P-1 rating for Lloyds TSB Bank remains unchanged, but the longer-term senior debt and deposit ratings have been lowered by one notch to A2 from A1, and the standalone credit assessment has also been lowered by one notch to baa2 from baa1. The outlook is stable on the standalone credit assessment, and negative on the A2 senior debt and deposit ratings reflecting Moody's medium-term view of lower systemic support for UK banks."I am pleased that Moody's have recognised the substantial momentum we have made in de-risking our balance sheet and delivering on our strategy," said Lloyds' Chief Executive Officer, António Horta-Osório. "I expect this momentum to be sustained," he added. JH
More News
11 Jan 2024 20:28

First Citizens must 'clean up' claims that HSBC poached Silicon Valley Bank workers

Judge says bank must flesh out claims against ex-SVB employees

*

Read more
11 Jan 2024 17:03

M&S shares, Wall Street sell-off drag FTSE lower

U.S. inflation data sparks selloff

*

Read more
11 Jan 2024 10:59

UK plans new system to tackle small bank failures after SVB collapse

LONDON, Jan 11 (Reuters) - Britain's finance ministry plans to introduce new procedures to manage the failure of small banks more effectively, it said on Thursday, following last year's high-profile collapse of U.S.-based Silicon Valley Bank (SVB).

Read more
11 Jan 2024 09:26

TOP NEWS: Big Yellow rent hike saves revenue from decreased occupancy

(Alliance News) - Big Yellow Group PLC on Thursday said that revenue and lettable area had increased despite occupancy dropping during the "seasonally weaker third quarter".

Read more
8 Jan 2024 09:49

Saudi Arabia plans benchmark-sized three-tranche bond

DUBAI, Jan 8 (Reuters) - Saudi Arabia plans to tap global debt markets on Monday with the sale of a triple-tranche bond with tenors of six, 10 and 30 years, IFR, a capital markets publication, reported.

Read more
8 Jan 2024 09:24

LONDON BROKER RATINGS: Barclays cuts Berkley and Barratt, ups Bellway

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning and Friday:

Read more
8 Jan 2024 07:16

UAE's FAB gives price guidance for its 5-yr sukuk

Jan 8 (Reuters) - The United Arab Emirates' largest lender, First Abu Dhabi Bank, has given price guidance of around 100 basis points over U.S. Treasuries for its dollar-denominated Islamic bonds, according to a document seen by Reuters on Monday.

Read more
8 Jan 2024 07:14

UAE's FAB gives price guidance for its 5-yr sukuk

Jan 8 (Reuters) - The United Arab Emirates' largest lender, First Abu Dhabi Bank, has given price guidance of around 100 basis points over U.S. Treasuries for its dollar-denominated Islamic bonds, according to a document seen by Reuters on Monday.

Read more
1 Jan 2024 16:17

HSBC completes sale of retail banking business in France

Jan 1 (Reuters) - HSBC subsidiary HSBC Continental Europe (HBCE) has completed the sale of its retail banking business in France to Crédit Commercial de France (CCF), a subsidiary of My Money Group, the British lender said in a statement on Monday.

Read more
1 Jan 2024 11:21

HSBC transfers retail bank in France to private equity firm Cerberus

(Alliance News) - After more than two years, HSBC Holdings PLC transferred on Monday for an undisclosed amount its retail banking network in France to My Money Group, controlled by US private equity fund Cerberus Capital Management LP.

Read more
22 Dec 2023 16:28

Rai Way investors seek update on mooted TV towers tie-up - sources

Tie-up with EI Towers would create national leader

*

Read more
22 Dec 2023 14:58

Rai Way investors seek update on mooted TV towers tie-up - sources

MILAN, Dec 22 (Reuters) - A group of investors holding around 10% of Rai Way's MI> capital has asked for the board of the state-owned Italian TV towers group to provide an update on a long-mooted combination with rival EI Towers to create a national champion, sources said on Friday.

Read more
22 Dec 2023 10:59

South Korea fines two global banks for short-selling rule breaches

SEOUL, Dec 22 (Reuters) - South Korea's financial regulator said on Friday that it would fine two unnamed global investment banks and one local brokerage a record 26.5 billion won ($20.41 million) in total for naked short selling.

Read more
22 Dec 2023 09:01

LONDON MARKET OPEN: Stocks snowed under; UK on brink of recession

(Alliance News) - Stock prices in London opened lower on Friday, with investors not feeling in a festive mood ahead of US inflation data.

Read more
22 Dec 2023 07:50

LONDON BRIEFING: UK on brink of recession as economy contracts in Q3

(Alliance News) - Stocks in London are likely to open lower on Friday, with investors feeling frosty ahead of a US inflation print this afternoon, amid sobering UK economic growth data.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.