HSBC decision avoids Asian bond headache

摘要

The decision by hsbc holdings to keep its headquarters in London may have been a relief to British financial authorities, but turning down a move to Hong Kong also spares index providers and investors a tough decision on whether or not to redefine the bank's bonds as Asian credit. Had the British lender changed its country of incorporation to Hong Kong from the UK, any new US dollar paper would most likely have been added to Asian credit indices, like the JP Morgan Asia Credit Index (JACI), where it would probably have been a large constituent.