Sell-off in US bank stocks due to concerns over solvency of Silicon Valley Bank

Re:Sell-off in US bank stocks due to concerns over solvency ... by MichaelZuo on Friday March 10, 2023 @08:02AM (#35093823)

HSBC did quite a few interesting and innovative things with certain organizations in Mexico, in fact more so then any 'fintech' challenger bank I've heard of, and I'm sure lots of banks would take on a similar level of risk for more legitimate enterprises in the Bay Area.

You just need to have billions moving around every month, with very high fees, to make it worth the time to take on that risk.

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Re:Sell-off in US bank stocks due to concerns over solvency ... by xmcqdpt2 on Saturday March 11, 2023 @08:20AM (#35108057)

In the case of HSBC,

> So rampant was the practice, prosecutors said, that on some days drug traffickers deposited hundreds of thousands of dollars at HSBC Mexico accounts. To speed things along, the criminals even designed “specially shaped boxes” that fit the size of teller windows at HSBC branches, according to the documents.

https://www.reuters.com/article/us-hsbc-probe-idUSBRE8BA05M2...

Now that's financial innovation!

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