International banking

Major foreign banks are just as important to the U.S. financial system as large domestic banks, and ought to be regulated as such.

The 2012 order, which came alongside fines to U.S. authorities totaling nearly $2 billion, had sullied the London-based bank's reputation. "Over the last decade HSBC's employees have worked hard to transform the bank's financial crime risk management capabilities," HSBC says.

Standard Chartered's joint venture with an arm of Singapore's biggest trade union group started digital banking services in the city-state, adding to rivalry in the space where tech giants are also seeking to make their mark.

Goldman Sachs Group is tapping the former No. 2 official at the International Monetary Fund and veteran of the Trump administration's trade wars with China to strengthen its ties with international governments.

The megabank had previously announced plans to shed consumer and commercial banking units in Russia, which invaded Ukraine in February. The revised plan is expected to cost about $170 million over the next year and a half.

A growing number of Wall Street banks are willing to trade Russian bonds that were once viewed as untouchable.

HSBC has agreed to sell its Russian unit to local lender Expobank, the latest international bank to exit the country following its invasion of Ukraine.

HSBC Holdings is in talks to sell its Russia unit to local lender Expobank, according to two people with knowledge of the discussions.

The New York custody banking giant took an eight-cent blow to its first-quarter earnings per share as a result of its retreat from the Russian market. Still, the company’s current estimate of the move’s ongoing impact is slightly smaller than its previous guidance.