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Report: HSBC to sell $2.7B of loans

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Report: HSBC to sell $2.7B of loans

HSBC Holdings Plc has put on sale $2.7 billion ofloans to about 69 companies in Europe, Asia and the U.S. as it seeks to cut$290 billion of risk-weighted assets by 2018, Bloomberg News reported July 22,citing "two people with knowledge of the sale."

The credits include investment-grade loans andproject finance, as well as performing and nonperforming leveraged loans.

HSBC spokeswoman Sarah Marquer reportedly saidthe lender's global banking and markets division is "constantly reviewingits opportunities" to meet RWA reduction targets.

In 2015, the bank RWAs by $124 billion,representing approximately 45% of the target to be achieved by the end of2017. It reduced an additional $15 billion of RWAs in the first quarter,Bloomberg noted.