 The scramble for capital Breaking the cycle |
DOUGLAS FLINT, GROUP finance director of HSBC Holdings, recounts some pressing and difficult questions from investors during the bank’s large capital-raising in the first quarter of 2009. These concerned not the bank’s large problem ABS exposure, not the prospect of rising losses on more conventional loans, but rather a new source of huge uncertainty for the banking industry. “Some of the most intelligent were saying, ‘We know regulation will be much more intense and intrusive for banks.
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