HSBC says MBS settlement could cost $1.6B

08/6/2013 | Reuters

The Federal Housing Finance Agency has claimed that HSBC Holdings is one of several banks that misrepresented the quality of collateral behind mortgage-backed securities between 2005 and 2008. HSBC says it could face a significant hit in a settlement with the regulator. "Based upon the information currently available, it is possible that these damages could be as high as $1.6 billion," according to a filing by HSBC.

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