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The Hongkong and Shanghai Banking Corporation Limited opened in Hong Kong on 3 March 1865 and in Shanghai one month later. It was the first locally owned bank to operate ing to Scottish banking principles.
Its 1992 acquisition of Midland Bank, which at the time was the United Kingdoms largest commercial bank, made HSBC one of the largest bank and financial companies in the world.
HSBC USA Inc. is a U.S. bank holding company whose principal subsidiary is HSBC Bank USA N.A. HSBC Bank USA, N.A. is a federally chartered bank that is a member bank of the Federal Deposit Insurance Corporation (FDIC) and is regulated by the Office of the Comptroller of the Currency (OCC).
HSBC provides more than 54 million customers worldwide with a full range of personal financial services, including current and savings accounts, mortgage loans, car financing, insurance, credit cards, loans, pensions and investments.
In 2012, U.S. authorities alleged HSBCs involvement in money laundering and other financial crimes. They accused the bank of not implementing proper controls to ward off money laundering and related crimes.
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HSBC Bank plc and HSBC UK Bank plc are members of the HSBC Group, the ultimate parent company of which is HSBC Holdings plc. HSBC Holdings plc beneficially holds 100% of both the shares and voting power of HSBC Bank plc and HSBC UK Bank plc. HSBC are covered by the Financial Ombudsman Service (FOS).
The founding capital was HKD5 million, consisting of 20,000 shares at HKD250 each. The shares sold quickly and The Hongkong and Shanghai Banking Corporation Limited was born.
HSBC Life (UK) Limited is a wholly owned subsidiary of HSBC Bank plc. HSBC Bank plc and HSBC UK Bank plc are members of the HSBC Group, the ultimate parent company of which is HSBC Holdings plc. HSBC Holdings plc beneficially holds 100% of both the shares and voting power of HSBC Bank plc and HSBC UK Bank plc.

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