HSBC Bank Canada has taken a small provision for losses in its own portfolio of frozen commercial paper, but chief executive officer Lindsay Gordon says that, like other investors, it’s suffering from a lack of information.
His comments stand out because HSBC is one of the 10 financial institutions that conceived the restructuring plan for the troubled third-party asset-backed commercial paper market - the so-called Montreal Accord. If any investor should have strong knowledge about the market, it’s HSBC. (see more)
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