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HSBC injects £750m capital using group funds to meet UK Govt demands

HSBC has met its commitment to the Government to recapitalise its UK subsidiary with a £750m equity injection from the group’s own resources.

The bank was one of eight listed in the Government’s announcement yesterday as having agreed to collectively increase their capital by £25bn.

HSBC says it has no plans to use the Government’s own recapitalization

The bank says that with a tier one capital ratio of 8.8 per cent and a loan to deposit ratio of 90 per cent it remains” one of the most strongly capitalised and liquid banks in the world”.

It also says it has provided significant amounts of liquidity to the London Sterling interbank market, lending around £4bn of three-month and six-month money to other banks.


Altmann slams bailouts

Pension reform expert Dr Ros Altmann claims the Government is trying to solve the banking crisis without understanding the problem and says some banks should be allowed to fail.

A life in funds

Having started in the UK financial services industry in the late 1960s, Cofunds communications consultant Richard Eats retired last week and headed to New Zealand. Remembering the inflation-led difficulties of the 1970s, as well as the 1987 crash and its impact on the mood and atmosphere of the City, Eats talks about the evolution of the UK’s retail funds industry.

Majority choose job based on pension scheme

More people are choosing their job based on the pension scheme that is offered to them, according to new research from Alexander Forbes Financial Services 2008 Return on Pension Expenditure Survey.


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