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Banks To Trade In S'pore Or Hk

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Banks could record as much as 30 percent of the value of their trades through Hong Kong, Singapore and other jurisdictions instead of hubs such as London and New York without running into trouble with regulators, Matten said. Such a move would hurt traditional hubs such as London

It would also allow banks to sidestep the U.K. bank levy

Question is would HSBC et al use this cash to lend more (if at all) in the Europe/UK/US?

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We used to think the financial sector was a source of wealth. Now we know it's actually a source of risk. There is some wealth, but it's only for for a tiny few.

Best give them some brochures for China and Singapore and ask them if they want a hand moving their filing cabinets to Heathrow cargo terminal. Tell them not to slam the door on the way out.

I wonder how the Chinese will react when told they need to put their hands in their pockets to bail out a greedy few? Do Cartier or Patek Philippe do a bullet for the well at heel?

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not so much capital flight as risk flight.

that's the spirit,rinse the west and head east for new pastures.they are the pikeys of international trade

Agreed. It was also a condition of the takeover of the old Midland Bank that HSBC become head quartered in the UK. Though I assume they will keep the HQ in Canary Wharf and pay tax wherever they feel like.

However mixed feelings about it. I assume it gets us off the hook for the risk, and these bank balance sheets are massive in relation to UK liabilities, and if it doesn't it damn well ought to.

Furthermore less taxation, should in theory reduce bankers influence on our oh so easily bought and paid for politicians.

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  • 338 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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