News Topic: HSBC

The Fed’s injects funds into the repo market for first time in more than a decade; bank trying to partner firms with cash with those with market share. ... Read full article

Pockets of job growth — in technology and compliance as well as from branch openings in new cities — are offsetting some of the dramatic cuts elsewhere at the world’s largest lenders. ... Read full article

As major U.S. cities continue to implement contactless tap-and-go acceptance to collect transit fares, at least one bank sees this trend as an opportunity to put its cards on center stage. ... Read full article

The president discussed the recent market turmoil with three large bank CEOs; a daily and a monthly bitcoin contract expected next month. ... Read full article

The LendingClubs and SoFis of the world have a big head start, but HSBC's U.S. unit says its partnership with the fintech Avant will help it close the gap in online personal loans. ... Read full article

U.S. financial stocks are down nearly 4% this week on rate pressure, but it’s even worse for European banks; the mutual fund giant will automatically sweep investor cash into a money fund yielding 1.9%. ... Read full article

CFO Ewen Stevenson, who has been in place only since January after joining from Royal Bank of Scotland, has established himself as the dominant force in the 154-year-old bank's executive suite, say current and former HSBC officials. ... Read full article

The payments system, called FedNow, would go head-to-head against one built by big banks; the senator from Oregon wants Amazon to address vulnerabilities in its cloud data storage. ... Read full article

The CEO's tenure lasted just 18 months; the former FDIC chair says having Congress more involved in setting accounting standards "could well backfire on the banks." ... Read full article

Flint will be replaced on an interim basis by Noel Quinn, head of global commercial banking. The lender, which also released its latest quarterly results several hours earlier than scheduled, didn’t give a reason for the decision. ... Read full article

Citi’s chief lending officer to take over HSBC’s U.S. business; Pittsburgh banks brace for incursion of industry heavyweights; borrowing by nonbank leveraged lenders is growing (maybe too much); and more from this week’s most-read stories. ... Read full article

Michael Roberts will succeed Patrick Burke as president and chief executive of HSBC USA in October. ... Read full article

The bank is considering eliminating as many as 20,000 jobs; BIS doesn’t want central banks to fall behind private cybercurrency efforts. ... Read full article

Facebook's plans to launch its Libra cryptocurrency dominated much of the discussion at American Banker's Digital Banking conference last week, but attendees also debated what big tech company might strike next and what future digital innovations ... Read full article

Whether it’s applying for a loan through a mobile app or building an investment portfolio via robo adviser, users want to know they can quickly and easily speak to a human being if they run into problems, top executives said at American Banker’s Digital ... Read full article

The move to add dozens of branches, many in low- and moderate-income neighborhoods, continues a strategic shift under retail banking chief Pablo Sanchez. ... Read full article

HSBC is opening 50 new retail branches in the U.S. and hiring more than 300 staff as part of the British lender's plan to expand services to regions where it has previously been absent. ... Read full article

Visa, Mastercard and PayPal are each putting up $10 million to back the cryptocurrency; company “gearing up” to reboot its flagging small business lending unit. ... Read full article