Regulatory Alerts2025-12-17 | Conditional Approval 1352Added
Conditional Approval 1352 — Application by HSBC Bank plc to Establish a Federal Branch in New York
The Office of the Comptroller of the Currency grants preliminary conditional approval for HSBC Bank plc to establish the HSBC Bank plc US Branch at 66 Hudson Blvd., New York, without fiduciary powers. The Branch must maintain a capital equivalency deposit in an unaffiliated U.S. member bank and comply with conditions requiring information disclosure, consent to U.S. jurisdiction, and prior OCC notice for significant operational deviations during its first three years. Final approval is contingent upon meeting procedural requirements, including obtaining adequate fidelity insurance, opening within eighteen months, and submitting a comprehensive implementation plan. Management approval is granted for Michael Roberts, Kavita Mahtani, and Andrew Fullam, subject to OCC review of any new executive officers or directors for two years after opening.