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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  HSBC Holdings Plc    HSBA   GB0005405286

HSBC HOLDINGS PLC

(HSBA)
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Delayed Quote. Delayed London Stock Exchange - 09/20 11:36:49 am
615.6 GBp   -0.06%
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HSBC : sued by U.S. credit union group over mortgage-backed securities

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03/20/2015 | 06:18pm EDT

WASHINGTON (Reuters) - The National Credit Union Administration Board filed suit against HSBC Bank USA, alleging it did not fulfil trustee duties for 37 residential mortgage-backed securities trusts, the group said on Friday.

The credit union group filed the suit in federal court in Alexandria, Virginia, in its role as liquidating agent for five failed corporate credit unions and on behalf of some NCUA guaranteed notes trusts. It is seeking damages to be determined at trial.

The NCUA said some $1.97 billion in residential mortgage-backed securities from the trusts were purchased by the U.S. Central, WesCorp, Members United, Southwest and Constitution credit unions between 2004 and 2007. The complaint said HSBC did not properly monitor loan servicers or take timely action on bad loans.

"Instead of protecting the trusts and the certificate holders, HSBC sat by as the trusts wasted away," NCUA Board Chairman Debbie Matz said in a statement. "This failure caused significant harm to trust beneficiaries, including the corporate credit unions and ultimately consumer credit unions."

(Writing by Bill Trott; Editing by Sandra Maler)

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Financials (USD)
Sales 2019 55 673 M
EBIT 2019 22 612 M
Net income 2019 14 608 M
Debt 2019 -
Yield 2019 6,64%
P/E ratio 2019 10,8x
P/E ratio 2020 10,6x
Capi. / Sales2019 2,77x
Capi. / Sales2020 2,71x
Capitalization 154 B
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Technical analysis trends HSBC HOLDINGS PLC
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Income Statement Evolution
Consensus
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Mean consensus HOLD
Number of Analysts 25
Average target price 8,14  $
Last Close Price 7,68  $
Spread / Highest target 42,9%
Spread / Average Target 5,92%
Spread / Lowest Target -16,5%
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Managers
NameTitle
John M. Flint Group Chief Executive Officer & Executive Director
Mark Edward Tucker Non-Executive Group Chairman
Andrew Mitchell Maguire Group Chief Operating Officer
Ewen James Stevenson Executive Director & Group Finance Director
Darryl West Chief Information Officer
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