Securities Lending exposure minimal
30 August 2010 Stockholm
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Swedish HQ Bank is facing liquidation, meaning other banks in the region are left to help existing customers.
A petition for liquidation of HQ Bank was filed at the District Court of Stockholm today. Clearing and custodian bank SEB is working to assist the bank and its customers, and is settling all securities transactions as quickly as possible.
SEB has a credit exposure towards HQ Bank of SEK 141m, securities lending amounting to a nominal value of SEK 600m and settlement guarantees of SEK 307m.
SEB's engagement does not pose a loss risk for the bank as collateral in the form of cash, bonds and shares with ample margin exceeds this claim.
A petition for liquidation of HQ Bank was filed at the District Court of Stockholm today. Clearing and custodian bank SEB is working to assist the bank and its customers, and is settling all securities transactions as quickly as possible.
SEB has a credit exposure towards HQ Bank of SEK 141m, securities lending amounting to a nominal value of SEK 600m and settlement guarantees of SEK 307m.
SEB's engagement does not pose a loss risk for the bank as collateral in the form of cash, bonds and shares with ample margin exceeds this claim.
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