General Discussion

FarCenter

(19,429 posts)

8. If they had a liquidity issue, they would restrict wire transfers.

Sat Jan 25, 2014, 02:48 PM

Jan 2014

So long as you can freely wire millions in and out, they don't have a capitalization issue.

Cash transaction restrictions are related to anti-money laundering regulations.

HSBC to pay $1.9 billion U.S. fine in money-laundering case

Under the agreement, which was reported by Reuters last week, the bank agreed to take steps to fix the problems, forfeit $1.256 billion, and retain a compliance monitor. The bank also agreed to pay $665 million in civil penalties to regulators including to the Office of the Comptroller of the Currency, the Federal Reserve, and the Treasury Department.

http://www.reuters.com/article/2012/12/11/us-hsbc-probe-idUSBRE8BA05M20121211

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17 replies

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Highlight:

HSBC (Britain's largest bank) Restricts Large Cash Withdrawals [View all] dixiegrrrrl Jan 2014 OP

Big red flag. Agschmid Jan 2014 #1

Yes it is - they are afraid of a run on the banks. jwirr Jan 2014 #12

I get the logic DFW Jan 2014 #2

The best way to start a run on a bank ChairmanAgnostic Jan 2014 #3

Hong Kong Shanghai Banking Corporation Jesus Malverde Jan 2014 #4

Governments don't want people making large cash transactions -- they're hard to tax FarCenter Jan 2014 #5

Has nothing to do with the 80 billion shortfall, eh? dixiegrrrrl Jan 2014 #6

If they had a liquidity issue, they would restrict wire transfers. FarCenter Jan 2014 #8

It's always the fault of those darn regulators Aerows Jan 2014 #14

Cash withdrawls Sgent Jan 2014 #15

Is it possible to write a really big check to yourself? Renew Deal Jan 2014 #7

They just got though selling their credit card accounts to Capital One. LiberalArkie Jan 2014 #9

from Max Keiser marmar Jan 2014 #10

I watched that yesterday dixiegrrrrl Jan 2014 #11

Time to get your money out trublu992 Jan 2014 #13

SO GLAD I GOT OUT OF HSBC 9 MONTHS AGO!!! lindysalsagal Jan 2014 #16

maybe true but dated... Jesus Malverde Jan 2014 #17