HSBC hit by $400m UK fraud-related charge; Rachel Reeves ‘clashed with Scott Bessent’ over Iran war criticism – business live - short news
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HSBC has lifted its forecast for expected credit losses this year, following that UK fraud-related $400m charge, and the Iran war.
The bank now expects an ECL [expected credit loss] charge as a percentage of average gross loans to be around 45bps this year, which it says reflects “ongoing uncertainty in the outlook”.
Reeves responded..
source: The Guardian - 05.05.2026