Euroclear and HSBC Automate FX Before Europe Cuts Securities Settlement to One Day

HSBC has appointed a former Northern Trust executive as the head of its securities services in Luxembourg. The executive previously held senior roles at several financial institutions, including FundBank, IKANO Advisory Management, Chase Manhattan Bank, and Price Waterhouse.

Shore Capital reiterated a 'sell' rating on HSBC (HSBA, HSBC), citing a high valuation and a 1,335p target price, implying 13% downside. HSBC management reported strong trading across most businesses, healthy wealth client acquisition, and growing fee income. However, Shore Capital warned of potential future profitability challenges and an optimal but unsustainable interest rate environment.

Westpac reports July's private sector credit growth slowed to 0.6% monthly, below market consensus. Housing credit, 62% of total, grew 0.5%, with investor lending falling 0.3 percentage points. Business lending offset housing slowdown. APRA data shows top 10 lenders' mortgage books grew $6B in July, with some banks reporting contractions. Equifax data indicates mortgage demand down 16.4% year-on-year.

HSBC (HSBA) is among seven private equity firms bidding for a 54% stake in Nuvama Wealth (NUVA), valued at $1.8B. PAG, the owner, relaunched the sale process with Morgan Stanley and JPMorgan as advisers. Bidders submitted non-binding offers last week, with more strategic investors expected to join. The deal would also require an open offer for an additional 26% of Nuvama.

HSBC Holdings plc repurchased 23,559,014 shares for cancellation, totaling $485.3 million, as part of a buyback announced on 5 August 2026. Purchases occurred on UK and Hong Kong exchanges, with average prices of £15.2105 and HK$161.2198 per share, respectively. The company's issued share capital and voting rights were updated accordingly.

HSBC issued two tranches of senior unsecured renminbi notes, totaling CNY4bn, on the London Stock Exchange. The notes have fixed rates of 1.950% and 2.300% with maturities in 2030 and 2034, respectively. The bank reported total assets of US$3.438tn as of June 2026. The notes are not registered in the U.S. and are subject to exemption-based sales.