Hints and tips:
...Jens Larsen, RBC Capital Markets: Credit easing is unlikely to be transformative....
...Jens Larsen, RBC Capital Markets: At some point, we will get a rebound in productivity....
...Jens Larsen, RBC Capital Markets At this point, I do not think there is a lot that can be done on the macro policy front....
...Jens Larsen, RBC Capital Markets: One currency. The UK can’t really insulate itself very well at all, because of the strong trade and financial links....
...Jens Larsen, RBC Capital Markets: Very broadly speaking, 2012 is not going to be much better than 2011....
...Jens Larsen, RBC Capital Markets: The question of whether the deficit reduction strategy is valid is really a moot question now....
...HSBC on Monday declared that its £12.5bn rights issue would help restore its “balance sheet supremacy” over rival lenders, writes Peter Thal Larsen....
...Douglas Flint, HSBC finance director, said the bank’s bad mortgage debts were receding but its US loan book was feeling the effects of the broader slowdown....
...Douglas Flint, HSBC’s finance director, does not expect the crisis to ease until US house prices stabilise. There is also no prospect of HSBC ridding itself of the US business soon....
...Douglas Flint, finance director, also sounded a cautious note about the bank’s exposure to securities backed by mortgages, which triggered a $2.6bn loss in the first quarter....
...Nevertheless, Douglas Flint, finance director, said the recent revival in the markets had not extended to more complex mortgage-backed securities....
...“People cannot refinance,” said Douglas Flint, HSBC’s finance director. “They can no longer unlock money from their homes because they no longer have the equity.”...
...Douglas Long, head of business strategy at Principia Partners, a software company that supplies risk management and accounting software to SIVs and other vehicles, says: “SIVs are differentiated from conduits...
...The latest action follows an earlier letter to Stephen Green, HSBC’s executive chairman, in May and a meeting in June with Douglas Flint, group finance director in New York....
...Douglas Flint, HSBC’s finance director, will become chairman of HSBC Finance Corporation, its US consumer finance subsidiary....
...Mr Geoghegan and Douglas Flint, finance director, have taken a hands-on approach to the business....
...Ultimately, shareholders may ask whether some responsibility for the problems in Household should be shared by Mr Green, who was HSBC’s chief executive at the time of the deal, and Douglas Flint, the HSBC...
...Our banking editor Peter Thal Larsen has been following the news from HSBC last night and this morning. He writes: “HSBC’s profit warning – its first ever – raises as many questions as it answers....
...But Mr Geoghegan and Douglas Flint, finance director strongly defend the bank’s ability to spend its capital....
...“We have a much larger deposit base than our competitors,” said Douglas Flint, finance director....
...Douglas Flint, HSBC’s finance director, says the bank has even passed up relatively small deals in the US because the price tag required it to make overly optimistic assumptions about growth....
...Douglas Flint, HSBC’s finance director, says sharing more credit data will help lenders make better decisions: “The US is a more predictable environment and that is because of the availability of data....
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