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HSBC Papers Over Cracks- US-FOREX.US
HSBC has probably never loved and loathed accountants quite so much. Analysts had thought the bank would report a loss in the hundreds of millions on Monday, after it said in May that an accounting charge on a rights issue in April would lead to a 4.7 billion write-down on its books. Yet thanks to… »
Americans Now Pariahs Of Foreign Banks – US-FOREX.US
Move over Iran and North Korea: Americans are the new outcasts of banking. Swiss and other European banks have begun distancing themselves from American clients in the wake of UBS’ spat with U.S. tax authorities, either by closing existing accounts or rejecting new applications.Banks, particularly smaller Swiss ones, are “actively closing” accounts of Americans resident… »