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| Name | Symbol | Market | Type |
|---|---|---|---|
| HSBC Holdings PLC | NYSE:HSBC | NYSE | Depository Receipt |
| Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.43 | 0.97% | 44.88 | 44.82 | 44.485 | 44.74 | 1,275,488 | 23:44:36 |
From May 2019 to May 2024
By Dimitrios Kontos
HSBC Holdings PLC (HSBA.LN) said Monday that it has finished setting up its ring-fenced bank, HSBC UK Bank PLC, six months ahead of the legal deadline.
The company said it completed the legal transfer of businesses and customer accounts from HSBC Bank PLC to HSBC UK on July 1.
HSBC UK, created in response to the U.K.'s Financial Services Act of 2013, which requires large banks to separate their retail-banking activity from the rest of their business, will serve about 14.5 million customers.
The company said it has transferred 400,000 bank accounts to new HSBC UK sort codes and rebranded all HSBC branches in the U.K.
HSBC UK is entirely owned by HSBC Holdings PLC but has its own board.
Write to Dimitrios Kontos at dimitrios.kontos@dowjones.com
(END) Dow Jones Newswires
July 02, 2018 05:51 ET (09:51 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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