HSBC Securities Services is known to be Lehman’s trustee across multiple jurisdictions, said Asian Investor. “The current crisis will no doubt put its trustee function to its most strenuous test to date. After multiple calls to various business heads of the group, no one has been able to respond to AsianInvestor’s question on what […]
NEARLY half of all mortgage shoppers use the Internet to do research on mortgages. If your research got you to this website you have reached Household - HSBC Watch consumer advocates, a watchdog organization not affiliated with HSBC in any way. You are doing your homework, however, and digging deeply. Perhaps HSBC […]
Our headlines screamed: “HSBC posts Boscov payment one day late” and “HSBC loses customer for Boscovs due to late payment processing” and “Boscovs and HSBC Forgets To Mail December Bill.” Now Boscov’s has filed for bankruptcy. The formula is simple: When a merchant signs a contract with HSBC for credit card […]
Moody’s Investors Service on Friday cut its bank financial strength rating on HSBC Bank USA, indicating it may be more likely to need support from its parent, HSBC Holdings. The cut “was prompted by the accelerated deterioration in HSBC USA’s financial fundamentals in the last quarter of 2007 and first quarter of 2008, […]
The Philippine peso may slide 14 percent against the dollar to a three-year low by June 2009 as the nation’s trade deficit widens and foreign investors shun local assets, according to HSBC Holdings Plc. It is not good news for workers. HSBC Philippines is not just a call center. HSBC Philippines is […]
Even bankrupt lenders are looking for a new approach to lending. One subprime lender, the bankrupt Delta Financial, is reemerging as a lender of FHA mortgages and other “alternative” products. The company’s former chief executive, Hugh Miller, along with a small group of former Delta executives, is launching Reliance First Capital, a mortgage company […]
HSBC Holdings Plc’s rescue of its Asscher Finance Ltd. structured investment vehicle will mean 70 percent losses for bondholders including a Spanish unit of Credit Suisse Group. London-based HSBC is restructuring Asscher to prevent it from having to sell assets at fire sale prices to repay maturing debt. Asscher has $5.9 billion of debt […]
Analysts at Household - HSBC Watch predicted credit card problems at HSBC Finance. Today Moody’s announced what we suspected. HSBC Finance, formerly Household International, is now having problems with credit card defaults. Moody’s Investors Service on Tuesday changed its outlook on HSBC Bank USA, part of HSBC Holdings Plc, to negative […]
Due to deterioration in HSBC’s U.S. operations Moody’s took acton today. Moody’s Investors Service said Thursday it has lowered the ratings outlook for HSBC Holdings PLC, Europe’s largest bank, and its subsidiaries to “Stable” from “Positive” due to weakness in the company’s U.S. operations. Moody’s also affirmed the company’s ratings at investment grades, […]
Moody’s Investors Service sent warnings Wednesday to Citigroup Inc. in New York and HSBC Holdings in London that it might downgrade their structured investment vehicles as the rating company reviews $33 billion worth of the debt.
SIV “debt ratings continue to be vulnerable to the unprecedented large and sustained declines in portfolio value combined with a […]
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An open letter to HSBC, Knight Vinke and Stephen Green
We monitor customer trends for possible violations of Regulation Z and other possible illegal actions.
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