U.S. says HSBC 'too slow' on compliance but makes progress

NEW YORK, April 1 (Reuters) - HSBC Holdings Plc ismaking progress toward cleaning up its operations, afterreaching a $1.92 billion settlement of charges related to moneylaundering, but has not done enough, the U.S. Department ofJustice said on Wednesday.

The government made its criticisms after reviewing thefindings of an independent monitor, Michael Cherkasky, who wasappointed in connection with the bank's so-called deferredprosecution agreement with U.S. authorities.

That accord allowed HSBC to avoid criminal charges that itenabled clients to launder drug money and did business withcountries linked to terrorism. (Reporting by Jonathan Stempel in New York; Editing by ChrisReese)