Why taxpayers are paying £40bn in interest on Bank of England reserves [Yahoo! Finance]
HSBC Holdings, plc. (HSBC)
US:NYSE Investor Relations:
hsbc.com/investor-relations
Company Research
Source: Yahoo! Finance
Money former chancellor Gordon Brown wants to see deployed towards hospitals and schools. Commercial banks have some £750bn in reserves deposited with Bank of England, and just like a regular deposit where the bank will pay you interest for having your money with them, the central bank is required to pay interest on that amount. That means that the Bank of England is paying 5.25% to commercial banks just to hold their money, which comes in at about £40bn a year. Why are taxpayers footing the bill? Ultimately, UK taxpayers have to foot this bill as the government is liable for the BoE costs via the Treasury. The Treasury is responsible for funding any gap between the interest the Bank of England receives on bonds bought via quantitative easing and the interest it pays out, along with any losses the Bank makes from active sales. The net loss to the BoE is, however, less than the £40bn as the central bank generates interest on the £730bn of government bonds it owns. Read mo
Show less
Read more
Impact Snapshot
Event Time:
HSBC
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
|
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
|---|---|---|
|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
| Last Price | ||
| VWAP | ||
|
High:
|
Max Up |
High:
|
|
Low:
|
Max Down |
Low:
|
|
%
|
Post news range |
%
|
|
|
Price change |
|
|
|
Price Change Percentage |
|
|
|
S&P 500 (SPX) |
|
|
%
|
Volume ratio |
%
|
| Volume | ||
| Ticks | ||
|
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
HSBC alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
HSBC alerts
High impacting HSBC Holdings, plc. news events
Weekly update
A roundup of the hottest topics
HSBC
News
- Winner of Hong Kong's Flagship Global Elevator Pitch Competition Crowned [Yahoo! Finance]Yahoo! Finance
- Earnings: Investors are focusing on outlooks, strategist says [Yahoo! Finance]Yahoo! Finance
- HSBC Wins £1.3 Billion Suit Over Disney Film Finance Scandal [BNN Bloomberg (Canada)]BNN Bloomberg
- HSBC's Private Bank Shuts IAM Business in HK, Singapore [BNN Bloomberg (Canada)]BNN Bloomberg
- Working from home wipes £900m off value of Canary Wharf offices [Yahoo! Finance]Yahoo! Finance
HSBC
Sec Filings
- 4/23/24 - Form 6-K
- 4/22/24 - Form 6-K
- 4/19/24 - Form 6-K
- HSBC's page on the SEC website