HSBC to book $1.1 billion provision after Luxembourg court ruling in Madoff case

By Yahoo! Finance   |   1 month ago
HSBC to book $1.1 billion provision after Luxembourg court ruling in Madoff case

HSBC Holdings will recognize a $1.1 billion provision in its Q3 results due to a Luxembourg court ruling related to the Bernard Madoff fraud. The bank is involved in a lawsuit seeking restitution of lost assets, with potential impact on its capital ratio.

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