Banks Rent Rivals' Balance Sheets to Skirt Capital Rules [Yahoo! Finance]
HSBC Holdings, plc. (HSBC)
US:NYSE Investor Relations:
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Source: Yahoo! Finance
It was a cash generator, cranking out a steady stream of revenue, and yet it was costly to run because of the way regulators force banks to set aside capital as a buffer against losses. Most Read from Bloomberg Tesla Axes Supercharger Team in Blow to Broader EV Market Amazon Reports Strong Cloud Unit Sales on Rising AI Demand Pot Stocks Surge on Report DEA Set to Reclassify Marijuana HSBC CEO Quinn Unexpectedly Steps Down After Almost 5 Years Binance Founder Changpeng Zhao Gets Four Months in Prison The British lender came up with a solution in February, by selling $1.1 billion of card assets to private equity firm Blackstone Inc. The transaction, part of an ongoing financing arrangement, allows Barclays to collect fees for servicing the loans, but not have to hold them on its books. In return, Blackstone gets to generate high yields for insurance clients. In essence, Barclays is renting Blackstone's balance sheet. “Banks value the customers and the origination fees.
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HSBC
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- 5/15/24 - Form 6-K
- 5/15/24 - Form 13F-HR
- 5/15/24 - Form 6-K
- HSBC's page on the SEC website