FCA makes enquiries into HSBC’s discos

The UK’s Financial Conduct Authority has been looking into bondholder concerns after HSBC decided to reclassify four legacy bank capital instruments earlier this year, leading to a plummet in their value.

  • By Jasper Cox
  • 03 Dec 2018

The FCA’s enquiries do not constitute a formal investigation — although that could result from its actions.

The body, which regulates the conduct of financial firms and the UK's securities markets, is interested in how transparent the UK bank has been and has been looking to gather evidence, ...

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 13,951.26 77 5.55%
2 UniCredit 12,869.58 96 5.12%
3 Natixis 11,652.77 67 4.63%
4 UBS 11,458.20 62 4.56%
5 LBBW 11,285.83 74 4.49%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 87,420.99 365 6.18%
2 Citi 78,905.88 424 5.58%
3 Bank of America Merrill Lynch 78,235.89 324 5.53%
4 Goldman Sachs 72,613.81 636 5.13%
5 Morgan Stanley 72,406.38 414 5.12%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 70,642.78 252 11.09%
2 Bank of America Merrill Lynch 64,871.97 271 10.19%
3 Citi 61,723.62 322 9.69%
4 Morgan Stanley 54,569.85 313 8.57%
5 Goldman Sachs 54,299.46 565 8.53%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Natixis 8,357.33 33 7.02%
2 Commerzbank Group 6,550.39 26 5.51%
3 Deutsche Bank 6,535.71 22 5.49%
4 UniCredit 6,513.66 27 5.47%
5 LBBW 6,441.23 28 5.41%

Global FIG Revenue

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 02 May 2016
1 Morgan Stanley 365.83 497 7.62%
2 JPMorgan 332.66 618 6.92%
3 Bank of America Merrill Lynch 299.89 590 6.24%
4 Goldman Sachs 276.71 375 5.76%
5 Citi 264.54 592 5.51%

Bookrunners of European Subordinated FIG

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 HSBC 7,765.93 22 11.94%
2 BNP Paribas 5,338.58 23 8.21%
3 Barclays 5,124.61 20 7.88%
4 Credit Suisse 4,520.44 16 6.95%
5 UBS 3,976.00 19 6.11%