HSBC Holdings (NYSE:HBC): Closing price $55.30
HSBC joins the agreement in principle announced by the Federal Reserve Board and the Office of the Comptroller of the Currency on January 7th, and thus will pay $249 million in cash payments and other assistance to aid mortgage borrowers. Earlier in January, the government bodies said that they reached agreements in principle with 12 other lenders in the United States. With the addition of HSBC, almost 4.2 million borrowers will receive an aggregate sum of $3.6 billion in cash compensation while another $5.7 billion will be provided by the servicers for mortgage assistance.
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