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<Research>JPM: Impact of UK Easing Capital Requirement Tightening Proposal on Banks Manageable; HSBC HOLDINGS Expected to Announce Further Buybacks in 3Q Results
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The Bank of England's disclosure of the second part of its Basel III will have a more manageable impact on UK banks overall, with Tier 1 capital requirements increasing by less than 1% by 2030, compared to 3% as of last year, JPMorgan released a research report saying. JPMorgan saw moderate upside risk to shareholder returns on HSBC HOLDINGS (00005.HK) and STANCHART (02888.HK). Policy changes around commercial real estate (CRE) is believed to have a moderately positive impact on HSBC HOLDINGS as its CRE accounts for 8.3% of total loans, and STANCHART benefits from a reduction in conversion factors for off balance sheet lending. While JPMorgan expected the proposed direction to be useful, the exact impact of these changes has yet to be examined by the banks, with updates likely at the upcoming 3Q24 results. JPMorgan continued to expect a resilient buyback outlook for HSBC HOLDINGS and STANCHART, with HSBC HOLDINGS expected to announce further buybacks in its 3Q24 results. AAStocks Financial News |
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