Each student will complete a report summarizing all the information they have gathered about the financial intermediary assigned. The report must be limited to 6 pages. Students are asked to use a 12-

The Intermediary which I chose was HSBC Bank, there are some reasons why I chose it. The first of all, HSBC is a British multinational investment bank and financial services holding company. It is the largest in Europe, with total assets of US$2.558 trillion(as of December 2018). Secondly, HSBC has around 3,900 offices in 65 countries and territories across Africa, Asia, Oceania,Europe, North America and South America. and around 38 million customers. As of 2014, it was the world's sixth-largest public company. Thirdly HSBC is organised within four business groups: Commercial Banking, Global Banking and Markets(Investing banking), Retail Banking and Wealth Management, and Global Private Banking. 

Reference:  https://www.hsbc.com/who-we-are/our-history

https://en.wikipedia.org/wiki/HSBC

Word count: 119

Due to the COVID-19, it should be a big shock to some financial intermediaries. HSBC Bank is a global financial institutions, and it announced updates to its HSBC Financial Wellness Center that include more than 30 new modules and an enhanced mobile experience. These additions provide Americans, irrespective of location and financial situation. These updates emphasize the bank's commitment to investing in financial literacy to support small businesses and provide users with improved resources during times of financial hardship. 

reference:  https://finance.yahoo.com/news/hsbc-bank-announces-updates-financial-130000399.html

word count: 87

Due to the COVID-19 I learned something about financial intermediary. Some international situations or some natural disasters will greatly affect financial intermediary. Many banks suffer financial pressure, like HSBC it  saw earnings fall to £2.5bn for the January-March period – down 48% compared to the same quarter last year.  So they have to layoff to reduce expense,  HSBC bank had planned to slash 35,000 jobs as part of a $4.5 billion cost-saving drive by 2022. 

Reference:  https://www.forbes.com/sites/isabeltogoh/2020/04/28/hsbc-profits-plunge-as-europes-biggest-bank-faces-coronavirus-hit/#2c12767241ff

https://www.forbes.com/sites/isabeltogoh/2020/04/28/hsbc-profits-plunge-as-europes-biggest-bank-faces-coronavirus-hit/#2c12767241ff

word count: 102

My intermediary is HSBC Bank, this week I learned something about HSBC bank. As a global multinational corporation, HSBC does a very good job in localization. Employees around the world have implemented localization strategies. This helps the bank communicate better with customers, because local employees have more similarities with local customers in terms of personality, dialect, ways of doing things, daily habits,etc., which will increase the favor of customers. Make HSBC have a larger market share. The news about HSBC bank is that  HSBC Holdings Plc, already on the hook for $600 million in loans to fallen Singapore oil giant Hin Leong, has taken steps to oust the management at another energy firm, claiming it used the same cargo to secure financing from multiple banks.

Reference:  https://finance.yahoo.com/news/hsbc-targets-singapore-oil-trader-053046779.html

word count: 135

I have learned some information about HSBC Bank, especially for the localization. In China HSBC has the function of exchanging RMB for online banking and can directly exchange RMB. it is convenient for customer to exchange if they had foreign currency. 

The news about HSBC Bank this week is about HSBC lost about $200 million in one day on gold market. HSBC Holding Plc lost around $200 million in one day in March because of disruptions to the gold market that caused prices to diverge dramatically in key trading hubs, according to a filing by the bank.  HSBC’s loss highlights the extreme nature of the disruption to the gold market in late March, as lockdowns closed refineries and grounded planes, strangling the supply routes that allow physical bullion to move around the globe.

Reference:  https://www.bloomberg.com/news/articles/2020-05-13/hsbc-lost-about-200-million-in-one-day-on-gold-market-turmoil

Word count: 142

This week I learned the corporate culture of HSBC Bank, there are four key words of the culture. "Power", "Task", "Role" and "Person". The "Power" means that the power would concentrated on a group of people. To "Task", the core value of the organization is democratic thinking and awareness of efficiency.  "Role" means that messages like to divide the employees into different department and structure to have a highly specialized and complete systems. The last one "Person", HSBC attach great importance to their customers and their employees. 

The news about HSBC Bank this week is about HSBC sees double- digit wealth asset growth in Asia by 2023. In Hong Kong, the bank's biggest market, the average monthly transaction value through digital channels by its wealth management clients grew 65% in the first quarter and monthly equity trading turnover rose 63%. 

Reference:  Chatterjee, S. (2020, May 20). HSBC sees double-digit wealth asset growth in Asia by 2023. Retrieved May 20, 2020, from https://www.reuters.com/article/us-hsbc-hldg-asia-wealth/hsbc-sees-double-digit-wealth-asset-growth-in-asia-by-2023-idUSKBN22W0F4

Word count: 177

This week I learned SWOT about HSBC.  The strength of HSBC Bank is that HSBC operates in 66 countries and territories.  HSBC is one of the leading banks in the world by market capitalisation. As of May 2018, HSBC Holdings is NO.6 in the top bank ranking with market capitalization amounting to around 194.07 billion U.S. Weaknesses of HSBC is that fall in share prices and fluctuations in profits have been a problem for HSBC is the last few years. HSBC had a 62% decline is profits for 2016, dipping to $7.1bn from $18.9bn in 2015.  There are some opportunities for HSBC, they can grow further in many of its existing markets like China, India, the UK, the United States and some other countries. Threats to HSBC is that bank faces threats from a number of competitors because of its operations in many countries and territories. 

The news about HSBC Bank supports US Communities with more than $4 million in COVID-19 Aid. The president and CEO of HSBC USA said that:" The current economic environment presents a unique challenge to every American, and we want to help ease the burden in the communities where we live and work."

Reference:  HSBC Bank Supports US Communities With More Than $4 Million in COVID-19 Aid. (2020, May 18). Retrieved May 27, 2020, from https://www.businesswire.com/news/home/20200518005519/en/HSBC-Bank-Supports-Communities-4-Million-COVID-19

Word count: 200

This week I have learned the HSBC Bank's social innovators. According to HSBC News, Social enterprises that provide sustainable jobs in US coal-mining communities. Hands-on training that teaches people in South Africa to make useful products our of waste. A digital platform that's helping domestic workers in Mexico gain access to the financial system. There are some of the pioneering initiatives selected as winners of inaugural HSBC Future Skills Innovation Challenge- a competition to recognise social enterprises that helping people develop the skills needed to get a job, manage their money to build a successful future. 

Reference:  HSBC backs social innovators: HSBC news: HSBC Holdings plc. (2020, May 27). Retrieved June 04, 2020, from https://www.hsbc.com/who-we-are/hsbc-news/hsbc-backs-social-innovator

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This week I have learned that HSBC Bank has a very complete service network worldwide. Take me as an example, if i had any banks in China, it will be difficult for me to transact business in foreign country. But if I had a HSBC account, I can do the transact business in any countries. There are a large number of physical service outlets or ATM in different countries.

The news about HSBC Bank is about HSBC customers with an affinity for Apple products can now contact customers service as easily as if they were texting a friend. HSBC Bank USA announced the addition of Apple Business Chat to its suite of customer service channels. Apple Business Chat lets companies and their customers interact over Apple's Message app on their iPhones, iPads or Macbook.

Reference: Cross, M. (2020, June 10). HSBC offers customer service through Apple Messages app. Retrieved June 10, 2020, from https://www.americanbanker.com/news/hsbc-lets-apple-using-customers-imessage-customer-service

Word count: 166