Concept
HSBC
Related concepts (17)
Birmingham
Birmingham (ˈbɜːrmɪŋəm ) is a city and metropolitan borough in the metropolitan county of West Midlands in England. It is the second-largest city in the United Kingdom with a population of 1.145 million in the city proper, 2.92 million in the West Midlands metropolitan county, and approximately 4.3 million in the wider metropolitan area. It is the largest UK metropolitan area outside of London. Birmingham is commonly referred to as the second city of the United Kingdom.
Bureau de change
A bureau de change (plural bureaux de change, both ˌbjʊəroʊ_də_ˈʃɒnʒ ; British English) or currency exchange (American English) is a business where people can exchange one currency for another. Originally French, the term bureau de change (byʁo d(ə) ʃɑ̃ʒ) is widely used throughout Europe and French-speaking Canada, where it is common to find a sign saying "exchange" or "change". Since the adoption of the euro, many exchange offices have started incorporating its logotype prominently on their signage.
Handover of Hong Kong
The handover of Hong Kong from the United Kingdom to the People's Republic of China was at midnight on 1 July 1997. This event ended 156 years of British rule in the former colony. Hong Kong was established as a special administrative region of China (SAR) for 50 years, maintaining its own economic and governing systems from those of mainland China during this time, although influence from the central government in Beijing increased after the passing of the Hong Kong national security law in 2020.
Custodian bank
A custodian bank, or simply custodian, is a specialized financial institution responsible for providing securities services. It provides post-trade services and solutions for asset owners (e.g. sovereign wealth funds, central banks, insurance companies), asset managers, banks and broker-dealers. It is not engaged in "traditional" commercial or consumer/retail banking like lending. In the past, the custodian bank purely focused on custody, safekeeping, settlement, and administration of securities as well as asset servicing such as income collection and corporate actions.
Too big to fail
"Too big to fail" (TBTF) is a theory in banking and finance that asserts that certain corporations, particularly financial institutions, are so large and so interconnected that their failure would be disastrous to the greater economic system, and therefore should be supported by government when they face potential failure. The colloquial term "too big to fail" was popularized by U.S. Congressman Stewart McKinney in a 1984 Congressional hearing, discussing the Federal Deposit Insurance Corporation's intervention with Continental Illinois.
Fraud
In law, fraud is intentional deception to secure unfair or unlawful gain, or to deprive a victim of a legal right. Fraud can violate civil law (e.g., a fraud victim may sue the fraud perpetrator to avoid the fraud or recover monetary compensation) or criminal law (e.g., a fraud perpetrator may be prosecuted and imprisoned by governmental authorities), or it may cause no loss of money, property, or legal right but still be an element of another civil or criminal wrong.
Money laundering
Money laundering is the process of illegally concealing the origin of money, obtained from illicit activities such as drug trafficking, corruption, embezzlement or gambling, by converting it into a legitimate source. It is a crime in many jurisdictions with varying definitions. It is usually a key operation of organized crime. In United States law, money laundering is the practice of engaging in financial transactions to conceal the identity, source, or destination of illegally gained money.