Investments

HSBC braces for big hit on MBS settlement

A $1.6B settlement remains possible

Mega European bank HSBC Holdings (HSB) is preparing for the worst by announcing it could take a hit of up to $1.6 billion on toxic mortgage-backed securities sold prior to the housing meltdown.

Reuters says the bank is in the midst of dealing with a legacy MBS case. If estimations prove correct, the European firm is facing a big payout. 

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