HSBC, StanChart rule out using UK government’s £25bn capital injection

October 08, 2008 12:00 am

HSBC, the best capitalised of the major UK banks, has hurriedly issued a statement saying its UK subsidiary, HSBC Bank plc, has “no current plans” to raise capital under the government’s recapitalisation scheme. Standard Chartered has followed suit, claiming it also does not need the capital, thanks to its healthy tier one ratio of 8.6%.

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