HSBC warns oil chaos threatens $47B in energy loans
HSBC warns oil chaos threatens $47B in energy loans
themeridianews.com
HSBC warns oil chaos threatens $47B in energy loans
HSBC chair warns Shell, BP executives that $47B energy portfolio faces collapse without Middle East peace. Bank sees systemic risk by year-end.
HSBC Bank Chair Tucker will testify before the Bank of England's Financial Policy Committee to warn that energy sector problems could spread to broader markets by year-end. "We're managing systemic risk now, not just [energy] portfolio risk."