Rules for Consumer Deposit Accounts Table of Contents
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Retail Banking Announcement
Frequently asked questions 26 May 2021 What the repositioning of the HSBC USA Wealth and Personal Banking business means for our customers, here and abroad Why did HSBC take this action? In February 2020, we set out a plan to shift our business strategy in the United States to maximize the connection between our clients and our world-class international network. Our primary business will be a wholesale bank focused on the international needs of clients. We are renewing our emphasis on the US$5 trillion international wealth management opportunity from globally mobile and affluent individuals in the United States. Is HSBC exiting the United States? No, HSBC is not exiting its US business. We aim to be the leading international bank in the United States and are focused on what we do best – connecting Americans to a world of opportunity and bringing cross-border business and investment to the United States. We will continue to provide banking services not only to our wholesale banking clients, but also to our Premier, Jade and Private Banking customers. I have personal accounts at HSBC and I’m in the United States. How will these agreements affect me? Upon completion of the transactions, the accounts of in-scope customers will be transferred to Citizens or Cathay Bank. We thank those customers for their business and will ensure the transfer occurs with as minimum disruption as possible. Premier, Jade, Private Banking and other clients who will remain HSBC customers are in the process of being transitioned to one of our new 20-25 Wealth Centers. -
Hsbc Premier Terms & Charges Disclosure
HSBC PREMIER The following information was correct as of 09/24/2021 Have questions or need current rate information? TERMS & CHARGES DISCLOSURE1 Call us at 888.662.HSBC (4722) It's important that you understand exactly how your HSBC Premier checking account works. We've created this summary to explain the fees and some key terms of your account. To qualify you must be a consumer and maintain: Balances of $75,000 in qualifying balances (see qualifying balance section); OR Monthly recurring direct deposits2 totaling at least $5,000 from a third party to an HSBC Premier checking account(s); OR HSBC U.S. residential mortgage loan with an original loan amount of at least $500,000, not an aggregate of ELIGIBILITY multiple mortgages. Home Equity products are not included. Participation in HSBC Jade is available to holders of an HSBC Premier Checking Account who have maintained qualifying Personal Cash Accounts and Personal Investment Assets (excluding Retirement Accounts and Assets) in the United States which in aggregate and calculated as an average over each calendar month are equal to at least $1,000,000 (One million U.S. dollars) for a period of at least 1 calendar month (a “Qualifying Balance”) immediately prior to HSBC Premier Account Holders becoming HSBC Jade clients. As a HSBC Jade client, if you are no longer able to meet the HSBC Jade criteria, your access to all its benefits will be removed. RATE Minimum Balance to Obtain APY Interest Rate Annual Percentage Yield (APY) INFORMATION (For more details $5 or more 0.01% 0.01% see HOW INTEREST AND APY WORK section Less than $5 No Interest Earned No APY Earned in the Rules)3 Minimum Balance requirements to earn interest are met by maintaining a “Daily Balance” of specified dollar amounts in your relationship checking account.3 Method Used to Compute Daily This method applies a daily periodic rate to the principal in the account ADDITIONAL Interest Balance each day. -
Student Accounts
Student Accounts Students have unique banking needs. Whether you’re from the U.S. or overseas, you’ll feel right at home with HSBC accounts designed with you in mind. With access to student checking, savings and a credit card designed specifically for students, you’ll have all the tools you need to start building your credit history today so you can make the most out of tomorrow. Deposit Accounts Cash Rewards Mastercard® Credit Card HSBC Choice Checking offers students the value you are Student Account looking for. With no monthly maintenance fee for 6 years The HSBC Cash Rewards Mastercard® credit card Student 1 from account opening, and the option to link to a Savings Account offers convenience, cash back and a great way to account, it’s the smart way to bank. help you establish credit. Choice Checking Student Offer Build your credit • No monthly maintenance fee for 6 years from • No credit history required for approval7 account opening1 • Lower credit limits to help support responsible credit card use • No minimum deposit required2 • Make monthly payments to establish good payment habits HSBC Direct Savings Account3 • View your FICO® Credit Score for free on your HSBC Credit Card statement • $0 monthly maintenance fee • Variable Purchase APR8 of 13.99% to 23.99% • $1 minimum balance for account opening in New Money4 5 • An online-only, high-yield personal savings account Earn cash back • 1.5% cash back on all your purchases Earn a $100 Welcome Deposit6 • Redeem for cash back right into your HSBC checking account Here’s how: • Open an HSBC Choice Checking account from February 16, 2020 through and including October 30, 2020, listing Apply for the Cash Rewards Mastercard® Credit Card student as your occupation on your application; and Student Account • Deposit $25 or more within 30 calendar days of account Once you set up an HSBC Checking, opening; and Savings or Certificate of Deposit account, • Maintain a Qualifying Direct Deposit of $500, OR applying is easy; stop in to any branch. -
ESTABLISHMENT of a DEPOSIT INSURANCE SYSTEM for the EASTERN CARIBBEAN CURRENCY UNION June 2020 Contents Toc43295216
Eastern Caribbean Central Bank ESTABLISHMENT OF A DEPOSIT INSURANCE SYSTEM FOR THE EASTERN CARIBBEAN CURRENCY UNION June 2020 Contents _Toc43295216 1.0 INTRODUCTION ................................................................................................................... 1 2.0 KEY MESSAGES ...................................................................................................................... 1 A. Policy Goals/Objective ........................................................................................................ 2 B. Summary of Proposed Core Design Features ................................................................ 2 3.0 BACKGROUND ...................................................................................................................... 4 4.0 CRITICAL ELEMENTS OF THE DEPOSIT INSURANCE FUND .................................. 6 4.1 Public Policy Objectives ..................................................................................................... 6 4.2 Mandate and Powers........................................................................................................... 7 4.3 Governance Structure ...................................................................................................... 11 4.4 Relationship with other Financial Safety Net Entities................................................. 13 4.5 Membership........................................................................................................................ 14 4.6 Qualifying Deposits and -
HSBC Holdings Plc Q1 2010 Interim Management Statement Conference Call
FINAL TRANSCRIPT HBC - HSBC Holdings plc Q1 2010 Interim Management Statement Conference Call Event Date/Time: May. 07. 2010 / 12:00PM GMT THOMSON REUTERS STREETEVENTS | www.streetevents.com | Contact Us ©2010 Thomson Reuters. All rights reserved. Republication or redistribution of Thomson Reuters content, including by framing or similar means, is prohibited without the prior written consent of Thomson Reuters. 'Thomson Reuters' and the Thomson Reuters logo are registered trademarks of Thomson Reuters and its affiliated companies. FINAL TRANSCRIPT May. 07. 2010 / 12:00PM, HBC - HSBC Holdings plc Q1 2010 Interim Management Statement Conference Call CORPORATE PARTICIPANTS Michael Geoghegan HSBC Holdings plc - Group Chief Executive Douglas Flint HSBC Holdings plc - Group Financial Officer, Executive Director Risk and Regulation Brendan McDonagh HSBC North America Holdings Inc. - CEO CONFERENCE CALL PARTICIPANTS Sunil Garg JPMorgan Securities, Ltd. - Analyst Jon Kirk Redburn Partners - Analyst Ian Smillie Royal Bank of Scotland - Analyst Steven Hayne Morgan Stanley - Analyst Simon Maughan MF Global Securities Limited - Analyst John Waddle Mirae Asset Securities - Analyst Manus Costello Autonomous Research LLP - Analyst Leigh Goodwin Citigroup - Analyst Tom Rayner Barclays Capital - Analyst Michael Helsby BofA Merrill Lynch - Analyst Arturo de Frias Evolution Securities - Analyst PRESENTATION Operator Welcome to the HSBC Holdings plc Interim Management Statement and HSBC Finance Corporation and HSBC USA Inc. first-quarter 2010 results. Today©s call is being chaired by Michael Geoghegan, Group Chief Executive, HSBC Holdings plc; Douglas Flint, Chief Financial Officer, Executive Director, Risk and Regulation HSBC Holdings plc; and Brendan McDonagh, Chief Executive Officer, HSBC North America[n] Holdings Inc. I would now like to hand over to Mr. -
HSBC HOLDINGS Plc Silent Social Report 1999-2000
HSBC HOLDINGS plc Silent Social Report 1999-2000 Report collated from information provide in the company’s reports and other documents issued directly by the company 1 DRAFT HSBC Holdings plc – Silent Social Report Mission and Policy Statement MISSION AND POLICY STATEMENTS HSBC is a global banking and financial services organisation headquartered in the United Kingdom. (…) We conduct business in a wide variety of social and business cultures and in a broad range of political environments. ......The HSBC Group’s international network comprises some 6,500 offices in 79 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. With listings on the London, Hong Kong, New York and Paris stock exchanges, shares in HSBC Holdings plc are held by around 190,000 shareholders in some 100 countries and territories. The HSBC Group is committed to five Core Business Principles: outstanding customer service; effective and efficient operations; strong capital and liquidity; conservative lending policy; strict expense discipline; through loyal and committed employees who make lasting customer relationships and international teamwork easier to achieve. (YL:11) 2 DRAFT HSBC Holdings plc – Silent Social Report Corporate Governance Statement CORPORATE GOVERNANCE STATEMENT The Group is committed to high standards of corporate governance. The Company has complied throughout the year with the provisions of Appendix 14 to the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong and with the best practice provisions of the Combined Code on corporate governance introduced by the London Stock Exchange. As a commercial organisation, our governing objective is to provide a satisfactory return on shareholders’ capital. -
Stuart Gulliver, Group Chief Executive, Said: “We Accept Responsibility for Our Past Mistakes
HSBC’s response re HSBC and its staff allegedly contributed to human rights abuses by “doing business with Mexican drug lords, terrorist financers and pariah states” 19 March 2013 Business & Human Rights Resource Centre invited HSBC to respond to the following items: - “Outrage at vast HSBC profits and bonuses despite role in drug money laundering”, Global Witness, 4 Mar 2013: http://www.globalwitness.org/library/outrage-vast-hsbc-profits-and-bonuses-despite-role-drug- money-laundering HSBC sent us the following response: Our position on the US matters was clearly set out in December 2012. The attached press release of 11 December 2012 includes the following (extracts): Stuart Gulliver, Group Chief Executive, said: “We accept responsibility for our past mistakes. We have said we are profoundly sorry for them, and we do so again. The HSBC of today is a fundamentally different organisation from the one that made those mistakes. Over the last two years, under new senior leadership, we have been taking concrete steps to put right what went wrong and to participate actively with government authorities in bringing to light and addressing these matters." As noted in the DPA, HSBC Bank USA already has, over the past several years, undertaken the following voluntary remedial measures: increased its spending on anti-money laundering (AML) approximately nine-fold between 2009 and 2011; increased its AML staffing nearly ten-fold between 2010 and 2012; revamped its Know Your Customer programme, including treating non-US HSBC Group Affiliates as third parties subject to the same due diligence as all other customers; exited 109 correspondent relationships for risk reasons; clawed back bonuses for a number of senior officers, and spent over US$290m on remedial measures. -
Foreign Bank Time Deposit Accounts Under the Securities Act of 1933: Wolf V
UCLA UCLA Pacific Basin Law Journal Title Foreign Bank Time Deposit Accounts under the Securities Act of 1933: Wolf v. Banco Nacional de Mexico, S.A. Permalink https://escholarship.org/uc/item/6gt821jb Journal UCLA Pacific Basin Law Journal, 1(2) Author Nitzkowski, Greg M. Publication Date 1982 DOI 10.5070/P812021891 Peer reviewed eScholarship.org Powered by the California Digital Library University of California CURRENT DEVELOPMENTS FOREIGN BANK TIME DEPOSIT ACCOUNTS UNDER THE SECURITIES ACT OF 1933: WOLF v. BANCO NA'CIONAL DE MEXICO, S.A. Greg M. Nitzkowski* In Wolf v. Banco Nacional de Mexico, S.A. I ("Wof"), the United States District Court for the Northern District of Califor- nia held that a time deposit account in a foreign bank is a "secur- ity" within the meaning of the term under section 2(1) of the Securities Act of 19332 because the plaintiff, a United States citi- zen and resident, was subject to a risk of devaluation in opening such an account. 3 In turn, the court held that defendant, Banco Nacional de Mexico ("Banamex"), which sold securities not regis- tered with the Securities and Exchange Commission 4 was strictly * Student, UCLA School of Law; A.B. 1979, Harvard University. 1. 549 F. Supp. 841 (N.D. Cal. 1982). 2. 15 U.S.C.A. § 77b(l) (West Supp. 1976), as amended by P.L. No. 97-303 (1982). The Act provides that unless the context otherwise requires-- (a) The term 'security' means any note, stock, treasury stock, bond, debenture, evidence of indebtedness, certificate of interest or par- ticipation in any profit-sharing -
Brown Brothers Harriman Global Custody Network Listing
BROWN BROTHERS HARRIMAN GLOBAL CUSTODY NETWORK LISTING Brown Brothers Harriman (Luxembourg) S.C.A. has delegated safekeeping duties to each of the entities listed below in the specified markets by appointing them as local correspondents. The below list includes multiple subcustodians/correspondents in certain markets. Confirmation of which subcustodian/correspondent is holding assets in each of those markets with respect to a client is available upon request. The list does not include prime brokers, third party collateral agents or other third parties who may be appointed from time to time as a delegate pursuant to the request of one or more clients (subject to BBH's approval). Confirmations of such appointments are also available upon request. COUNTRY SUBCUSTODIAN ARGENTINA CITIBANK, N.A. BUENOS AIRES BRANCH AUSTRALIA CITIGROUP PTY LIMITED FOR CITIBANK, N.A AUSTRALIA HSBC BANK AUSTRALIA LIMITED FOR THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED (HSBC) AUSTRIA DEUTSCHE BANK AG AUSTRIA UNICREDIT BANK AUSTRIA AG BAHRAIN* HSBC BANK MIDDLE EAST LIMITED, BAHRAIN BRANCH FOR THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED (HSBC) BANGLADESH* STANDARD CHARTERED BANK, BANGLADESH BRANCH BELGIUM BNP PARIBAS SECURITIES SERVICES BELGIUM DEUTSCHE BANK AG, AMSTERDAM BRANCH BERMUDA* HSBC BANK BERMUDA LIMITED FOR THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED (HSBC) BOSNIA* UNICREDIT BANK D.D. FOR UNICREDIT BANK AUSTRIA AG BOTSWANA* STANDARD CHARTERED BANK BOTSWANA LIMITED FOR STANDARD CHARTERED BANK BRAZIL* CITIBANK, N.A. SÃO PAULO BRAZIL* ITAÚ UNIBANCO S.A. BULGARIA* CITIBANK EUROPE PLC, BULGARIA BRANCH FOR CITIBANK N.A. CANADA CIBC MELLON TRUST COMPANY FOR CIBC MELLON TRUST COMPANY, CANADIAN IMPERIAL BANK OF COMMERCE AND BANK OF NEW YORK MELLON CANADA RBC INVESTOR SERVICES TRUST FOR ROYAL BANK OF CANADA (RBC) CHILE* BANCO DE CHILE FOR CITIBANK, N.A. -
Federal Reserve Bank of Chicago
Estimating the Volume of Counterfeit U.S. Currency in Circulation Worldwide: Data and Extrapolation Ruth Judson and Richard Porter Abstract The incidence of currency counterfeiting and the possible total stock of counterfeits in circulation are popular topics of speculation and discussion in the press and are of substantial practical interest to the U.S. Treasury and the U.S. Secret Service. This paper assembles data from Federal Reserve and U.S. Secret Service sources and presents a range of estimates for the number of counterfeits in circulation. In addition, the paper presents figures on counterfeit passing activity by denomination, location, and method of production. The paper has two main conclusions: first, the stock of counterfeits in the world as a whole is likely on the order of 1 or fewer per 10,000 genuine notes in both piece and value terms; second, losses to the U.S. public from the most commonly used note, the $20, are relatively small, and are miniscule when counterfeit notes of reasonable quality are considered. Introduction In a series of earlier papers and reports, we estimated that the majority of U.S. currency is in circulation outside the United States and that that share abroad has been generally increasing over the past few decades.1 Numerous news reports in the mid-1990s suggested that vast quantities of 1 Judson and Porter (2001), Porter (1993), Porter and Judson (1996), U.S. Treasury (2000, 2003, 2006), Porter and Weinbach (1999), Judson and Porter (2004). Portions of the material here, which were written by the authors, appear in U.S. -
HSBC Mexico Board of Directors
HSBC Mexico, S.A., Institución de Banca Múltiple, Grupo Financiero HSBC Board of Directors April 2021 Board of Directors Executive Directors • Paulo Cezar Torre Maia (Chairman) • Jorge Arturo Arce Gama • Brian Joseph McGuire Non Executive Directors • Claudia Jañez Sanchez • Andrés Rozental Gutman • Edgar Ancona • Eduardo Serrano Berry • Nick Fishwick • Deputy Non Executive Director • Luis Miguel Vilatela Riba |PUBLIC| Executive Directors - Appointment Date • Paulo Cezar Torre Maia, shareholders meeting held in July 3rd 2015. • Jorge Arturo Arce Gama, shareholders meeting held in February 24th 2020. • Brian Joseph McGuire, shareholders meeting held in April 27th 2018. |PUBLIC| Non Executive Directors - Appointment Date • Claudia Jañez Sanchez, shareholders meeting held in April 15st 2021. • Andrés Rozental Gutman, shareholders meeting held in September 9th 2013. • Edgar Ancona, shareholders meeting held in October 21st 2015. • Eduardo Serrano Berry, shareholders meeting held in October 21st 2015. • Nick Fishwick, shareholders meeting held in October 21st 2015. Deputy Non Executive Director - Appointment Date • Luis Miguel Vilatela Riba, shareholders meeting held in April 15st 2021. |PUBLIC| Executive Directors – Bio Data • Paulo Cezar Torre Maia He is the current CEO (Chief Executive Officer) of HSBC LAM since July 2015. Previously he was appointed as Chairman and CEO of HSBC Canada and before that in HSBC Australia. Mr. Maia has a Bachelor Degree in Mechanical Engineering and a Master in Industrial Engineering, both from the Catholic University of Rio de Janeiro in Brazil. • Jorge Arturo Arce Gama He is the current CEO (Chief Executive Officer) of HSBC Mexico since February 2020. Previously he worked in Banco Santander México appointed as Deputy General Director of Global Banking and Markets and before he was appointed as the CEO of Deutsche Bank México. -
How Money Is Created by the Central Bank and the Banking System Zürcher Volkswirtschaftliche Gesellschaft
Speech Embargo 16 January 2018, 6.00 pm How money is created by the central bank and the banking system Zürcher Volkswirtschaftliche Gesellschaft Thomas J. Jordan Chairman of the Governing Board∗ Swiss National Bank Zurich, 16 January 2018 © Swiss National Bank, Zurich, 2018 (speech given in German) ∗ The speaker would like to thank Samuel Reynard and Mathias Zurlinden for their support in the preparation of this speech. He also thanks Simone Auer, Petra Gerlach, Carlos Lenz and Alexander Perruchoud, as well as SNB Language Services. Page 1/12 Ladies and Gentlemen It is a great pleasure for me to be your guest here tonight. The subject of my speech is the creation of money in our economy. Since money creation in our financial system is closely linked to the granting of loans by banks, I am also going to talk about lending. I shall, moreover, address the issues of sovereign money and access to digital central bank money, insofar as they relate to our main topic. We are all aware of how profoundly the economic and monetary developments of the last ten years have been shaped by the global financial and economic crisis. Central banks responded swiftly and resolutely to the crisis, reducing interest rates and pumping large amounts of liquidity into the banking system. Once interest rates were down to almost zero, central banks were forced to adopt unconventional measures. Against the backdrop of a dramatic appreciation of the Swiss franc, the Swiss National Bank resorted mainly to interventions in the foreign exchange market, supplemented for a while by a minimum exchange rate for the Swiss franc against the euro.