Bloomberg News

HSBC Borrowed 5.2 Billion Euros of Three-Year Cash From ECB

February 27, 2012

HSBC Holdings Plc (HSBA) took 5.2 billion euros ($7 billion) of three-year loans from the European Central Bank at the December auction.

“Given the lack of stigma in participating and the attractive pricing, and with the outlook for capital markets remaining uncertain, we considered it prudent for our continental Europe operations to anticipate future funding requirements by participating,” the bank said in its annual report today.

To contact the reporter on this story: Gavin Finch in London at gfinch@bloomberg.net

To contact the editor responsible for this story: Francis Harris at fharris4@bloomberg.net


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