HSBC gives UK home owners a boost

December 08, 2008

Europe's largest bank, HSBC said it would raise its UK mortgage fund to 15 billion pounds in 2009, double that of 2007. As banks come under political pressure to pass on the benefit of government measures to boost lending, HSBC announces its making billions of dollars worth of funds available to the UK housing market and small businesses. Much of the money will come from their retail deposit base in Hong Kong. Their strong balance sheet has allowed them the flexibility to lend where many of their rivals have been unable to.