Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  London Stock Exchange  >  HSBC Holdings    HSBA   GB0005405286

HSBC HOLDINGS (HSBA)
Mes dernières consult.
Most popular
  Report  
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsofficial PublicationsSector newsTweets

HSBC : settles bondholders' claims of Libor manipulation

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/16/2017 | 04:41am CEST
The HSBC headquarters is seen in the Canary Wharf financial district in east London

NEW YORK (Reuters) - HSBC Holdings Plc has settled claims by a group of U.S. bondholders that it conspired with rivals to rig the Libor benchmark interest rate, according to a New York court filing on Monday by the bondholders' attorneys.

The filing did not disclose the terms of the settlement, which it said must be approved by U.S. District Judge Naomi Reice Buchwald in Manhattan federal court.

"We are pleased the matter is resolved," said HSBC spokesman Rob Sherman. He did not comment on the terms of the deal.

Lawyers for the bondholders could not immediately be reached.

Libor, or the London Interbank Offered Rate, is used to set rates on hundreds of trillions of dollars of transactions, including for credit cards, student loans and mortgages. It is calculated based on submissions by banks.

A variety of investors have accused HSBC and other banks of suppressing Libor before, during and after the 2008 financial crisis to boost earnings or make their balance sheets look healthier.

If approved, the settlement announced Monday would cover a class of bondholders claiming that Libor rigging caused them to receive artificially low returns on more than $500 billion (387.4 billion pounds) of dollar-denominated debt whose interest payouts were linked to Libor.

The bondholders announced in October that they had settled similar claims against Barclays Plc and UBS AG, which are among the banks that have been sued alongside HSBC.

The bondholders' lawyers said in Monday's filing that they planned to submit a formal motion to approve all three settlements.

HSBC reached a separate settlement over similar claims in January, agreeing to pay $35 million to end private U.S. antitrust litigation in Manhattan federal court accusing it of manipulating the yen Libor and Euroyen Tibor, or Tokyo Interbank Offered Rate, another benchmark interest rate.

Rate rigging has led to billions of dollars of regulatory fines against banks worldwide, along with a slew of private lawsuits like those in the Manhattan federal court.

The case is In re: Libor-Based Financial Instruments Antitrust Litigation, U.S. District Court, Southern District of New York, No. 11-md-02262.

(Reporting by Brendan Pierson in New York, additional reporting by Jonathan Stempel in New York; Editing by Cynthia Osterman and Randy Fabi)

By Brendan Pierson

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on HSBC HOLDINGS
12:03pHSBC : First interim dividend 2018 - scrip alternative - Announcement made to th..
PU
11:58aHSBC : Next Day Disclosure Return (23 May 2018) - Announcement made to the HK st..
PU
11:53aHSBC : First interim dividend 2018 - scrip alternative (1-page PDF 73KB)
PU
10:41aHSI opens up 53 pts to 30,718; H-share up 30 pts to 12,121
AQ
08:25aHSBC : Ataa Educational Company appoints HSBC Saudi Arabia as financial advisor
AQ
07:21aHSBC : WPP dealt blow as ad giant loses HSBC business
AQ
06:59aHSBC : buys back 2.88m shares on LSE
AQ
02:48aHSBC : Transaction in own shares 23 May 2018 - Announcement made to the HK stock..
PU
12:44aHSBC BLACK MONEY LIST : Former Dabur group director Pradip Burman says ED order ..
AQ
05/23SINOPEC ENGINEERING : SEG's new contracts healthy
AQ
More news
News from SeekingAlpha
02:28a38 Financial Sector 'Safer' Dividend WallStars Show 3%-13.8% May Yields 
05/16HSBC Holdings goes ex-dividend tomorrow 
05/14BLOOMBERG : HSBC deal shows blockchain viable for trade finance 
05/14WALL STREET BREAKFAST : Tensions Ease Ahead Of U.S.-China Trade Week 
05/14First trade finance transaction via blockchain 
Financials ($)
Sales 2018 55 398 M
EBIT 2018 20 829 M
Net income 2018 13 799 M
Debt 2018 -
Yield 2018 5,26%
P/E ratio 2018 14,57
P/E ratio 2019 13,25
Capi. / Sales 2018 3,60x
Capi. / Sales 2019 3,42x
Capitalization 199 B
Chart HSBC HOLDINGS
Duration : Period :
HSBC Holdings Technical Analysis Chart | HSBA | GB0005405286 | 4-Traders
Technical analysis trends HSBC HOLDINGS
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 21
Average target price 10,5 $
Spread / Average Target 5,9%
EPS Revisions
Managers
NameTitle
John M. Flint Group Chief Executive Officer & Executive Director
Mark Edward Tucker Non-Executive Group Chairman
Andrew Maguire Group Chief Operating Officer
Iain James Mackay Group Finance Director & Executive Director
Darryl West Chief Information Officer
Sector and Competitors
1st jan.Capitalization (M$)
HSBC HOLDINGS-3.60%199 415
JP MORGAN CHASE & COMPANY5.19%383 003
INDUSTRIAL AND COMMERCIAL BANK OF CHINA-3.71%319 818
BANK OF AMERICA3.49%308 642
WELLS FARGO-7.40%273 758
CHINA CONSTRUCTION BANK CORPORATION-2.47%271 766