For purposes of the BHC Act, the home state of HSBC is New York,(9) and the subsidiary banks of RNYC are located in New York, Florida, and California.
HSBC would control less than 30 percent or the appropriate percentage established by applicable state law of total deposits held by insured depository institutions in the states in which HSBC and RNYC both operate an insured depository institution.
RNYC also brings new businesses such as private banking (especially in SRH), bullion, and bank notes, which leverage off the HSBC customer base worldwide.
The negative impact on capital ratios of the RNYC and SRH acquisitions should be reversed over time.
Excluding the after tax impact of restructuring charges (US$115 million) booked in 1999 for the integration of RNYC and SRH, our attributable profit was US$5,523 million which is the best performance in our history.
The acquisitions of RNYC and SRH were completed on 31 December 1999.
also holds many charity and social events throughout the year aboard the HY TYNE III.
Simultaneously with the completion of the RNYC
acquisition, HSBC Holdings plc accepted for payment 36,254,767 shares of SRH common stock tendered to it by 17.
Along with others sailors from the RNYC
, he formed a group which raised the funds to have the James Cook built on the Tyne.
HSBC and RNYC
have scheduled the closing of the acquisition of RNYC
and of SRH shares tendered for 31 December 1999.
Subject to regulatory approvals and RNYC
shareholder approval being obtained and the fulfillment of other conditions, closing is targeted to take place by year-end.
Depending on regulatory approvals and RNYC
shareholder approval being obtained and the fulfilment of other conditions, closing is targeted to take place by year end.