HSBC Holdings Plc said it’s reviewing its exposure to smaller banks and hedge funds that have large private credit businesses, as the market comes under scrutiny following the high-profile collapses of First Brands Group and Tricolor Holdings in recent months.
“What is very important in these situations is to consider the second- and third-order risks exposure of other smaller banks or hedge funds that we may be dealing with, and that becomes a primary focus for us,” Pam Kaur, chief financial officer of the British lender, said on a media call Tuesday after the bank announced its earnings.
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