HSBC leads foreign banks in fed fund and repo borrowings

Large intermediate holding company money market borrowings equivalent to 15.9% of total assets

The US entity of UK bank HSBC borrowed the most cash through US money markets of big intermediate holding companies (IHCs) as a share of its assets in Q2 2019.

HSBC North America’s fed funds and repo borrowings were of an amount equivalent to 34.6% of its total assets at end-June. The average across the 11 IHCs – the US holdcos of overseas lenders – over $100 billion in size was 15.9%. The average interest paid for these borrowings was 4.6%.

Barclays’ US entity borrowed an amount equivalent to

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