HSBC: Court Approves Transfer of Accounts From HSBC Bank PLC to HSBC UK
25 Mayo 2018 - 10:06AM
Noticias Dow Jones
By Oliver Griffin
HSBC Holdings PLC (HSBA.LN) said Friday that the High Court in
the U.K. has approved the transfer of businesses and customer
accounts from HSBC Bank PLC to HSBC UK, its ring-fenced banking
business.
The ring-fencing transfer scheme, which affects banks, was
introduced in the U.K. to protect consumers and day-to-day banking
from unrelated risks from other parts of banks' businesses.
HSBC said the transfer will become effective from July 1 when
HSBC UK will begin operating as a separate bank, six months ahead
of the legal deadline for ring-fencing.
Write to Oliver Griffin at oliver.griffin@dowjones.com
(END) Dow Jones Newswires
May 25, 2018 10:51 ET (14:51 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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