HSBC welcomes UK Treasury statement

HSBC welcomes the announcement by the UK Treasury on its initiatives to support lending in the UK. HSBC will continue to work constructively with the authorities to ensure that these initiatives are taken forward in a way that is beneficial for the economy.

HSBC issuing a statement says that it remains very much open for business and continues to support its customers in these difficult times.

HSBC has already pledged to lend up to œ15 billion in mortgages this year - double the amount lent in 2007 - and is doing everything in its power to ensure mortgages remain affordable.

Likewise, small and medium-sized businesses need to know that they can access appropriate finance if they need it and that it will be sensibly priced.

HSBC has increased the amount it will lend to these companies by œ1 billion for 2009 and we continue to pass on rate cuts in full to existing customers.