When HM Treasury required all UK banks to increase their capital in October 2007, the group transferred £750 million to London within hours, and announced that it had just lent £4 billion to other UK banks.However, uncertainty over the rights' issue's implications for institutional investors caused volatility in the Hong Kong stock market: on 9 March 2009 HSBC's share price fell 24.14%, with 12 million shares sold in the last few seconds of trading.multinational banking and financial services holding company, tracing its origin to a hong in Hong Kong.
Peter Oborne, chief political commentator at The Daily Telegraph resigned from the paper; in an open letter he claimed the newspaper suppressed negative stories and dropped investigations into HSBC because of the bank's advertising.
"The Hongkong and Shanghai Bank" was founded by Scotsman Sir Thomas Sutherland in the then British colony of Hong Kong on 3 March 1865, and in Shanghai a month later, benefiting from the start of trading into China, including opium trading.
Although it was at the centre of the subprime storm, the wider group has weathered the financial crisis of 2007–2010 better than other global banks.
According to Bloomberg, "HSBC is one of world's strongest banks by some measures".
"HSBC Holdings plc", originally incorporated in England and Wales, in the United Kingdom, as "Vernat Trading Company Limited" on 1 January 1959 and then renamed "Vernat Eastern Agencies Limited" later in the same year, into the parent holding company to the Hongkong and Shanghai Banking Corporation Limited now as a subsidiary, in preparation for its purchase of the UK-based Midland Bank and the impending transfer of sovereignty of Hong Kong to China.