<p>作者：Steve Goldstein</p>
<p>汇丰因英国公司和中东动荡而遭受损失</p>
<p>汇丰在第一季度计提了 13 亿美元的信用减值。</p>
<p>银行盈利既是一门艺术，也是一门科学，估算贷款损失准备金时，企业必须设想一个最坏的情况并从中倒推。</p>
<p>在与分析师的电话会议上，首席财务官 Pam Kaur 解释了银行第一季度的盈利情况，特别是贷款损失准备金高于预期的原因，指出股市下跌 35% 和油价达到 145 美元的严峻形势。</p>
<p>值得注意的是，标准普尔 500 指数（S&amp;P 500 SPX）距离历史最高点仅有 0.4% 的差距。在中东，汇丰大幅减记的沙特阿拉伯全股指数今年上涨了 5%，而 FTSE 科威特指数仅下跌了 1%。</p>
<p>油价接近汇丰的最坏情况，布伦特原油（Brent crude）交易价格约为 113 美元。</p>
<p>汇丰报告称，剔除一次性项目后，税前利润基本持平，为 101 亿美元，收入增长 4% 至 191 亿美元。该行确实记录了 13 亿美元的信用损失费用，其中包括来自英国一家金融赞助商的 4 亿美元和来自中东冲突的 3 亿美元。</p>
<p>花旗的分析师表示，中东的准备金大致符合预期，但英国的费用则不然，且该准备金甚至高于同行巴克莱收购倒闭的英国贷款机构 MFS 时的水平。汇丰计提准备金的公司身份未被披露。</p>
<p>Kaur 表示：“这是一种特有的欺诈行为，” 根据 FactSet 的电话会议记录。“我们已经回顾了我们投资组合中所有最高风险的敞口，未发现类似的欺诈风险。因此，我们相当有信心这是一种一次性的欺诈行为。它是通过一家金融赞助商的二次敞口传递给我们的。”</p>
<p>汇丰将其银行净利息收入的预测上调至 460 亿美元，从 “至少” 450 亿美元上调，同时将预期的信用损失预测从 40 个基点上调至 45 个基点。</p>
<p>汇丰的股票（UK:HSBA）（HSBC）在伦敦交易中下跌 5%，使其年初至今的涨幅降至 10%。</p>
<p>数字化推动</p>
<p>汇丰还表示，它在数字资产方面进行了大力推动，包括一个已经交易价值达到 10 亿美元的代币化黄金产品。</p>
<p>汇丰推出了香港首个以零售为重点的黄金代币，目前市场由两家加密原生公司 Tether 和 Paxos Trust 主导。根据 CoinGecko 的数据，第一季度代币化黄金交易额为 907 亿美元。</p>
<p>代币化黄金产品类似于黄金支持的交易所交易基金（ETF），但它们可以全天候交易，几乎即时结算，并且不收取年度费用。然而，ETF 的流动性要高得多。</p>
<p>汇丰还指出，计划在下半年推出以港元计价的稳定币，并在五个市场推出代币化存款服务，同时参与与八家中央银行的中央银行数字货币项目。</p>
<p>数字化推动的背景是，汇丰正在退出多个市场以简化业务，并于 1 月完全私有化其香港银行恒生银行。</p>
<p>-Steve Goldstein</p>
<p>本文由 MarketWatch 创作，MarketWatch 由道琼斯公司运营。MarketWatch 与道琼斯新闻通讯和《华尔街日报》独立出版。</p>
<p>（完）道琼斯新闻通讯</p>
<p>05-05-26 0434ET</p>

汇丰控股有限公司

汇丰控股

汇丰

<p>汇丰控股在第一季度报告了 13 亿美元的信贷减值费用，主要受到英国公司和中东动荡的影响。首席财务官 Pam Kaur 描绘了一个严峻的情景，股市下跌 35%，油价达到 145 美元。尽管收入增长 4%，达到 191 亿美元，但在伦敦的股价下跌了 5%。该银行正在推进数字资产，包括一种代币化黄金产品和计划推出港元稳定币。汇丰将其银行净利息收入预期上调至 460 亿美元，并将预期信贷损失增加至 45 个基点</p>

<p>By Steve Goldstein</p>
<div class="lb-trans"><p>作者：Steve Goldstein</p>
</div><p>HSBC takes loss over U.K. firm and Middle East turmoil</p>
<div class="lb-trans"><p>汇丰因英国公司和中东动荡而遭受损失</p>
</div><p>HSBC took $1.3 billion of credit impairments in the first quarter.</p>
<div class="lb-trans"><p>汇丰在第一季度计提了 13 亿美元的信用减值。</p>
</div><p>Bank earnings are as much an art as a science, and to estimate loan-loss provisions a firm has to come up with a worst-case scenario and work backwards from there.</p>
<div class="lb-trans"><p>银行盈利既是一门艺术，也是一门科学，估算贷款损失准备金时，企业必须设想一个最坏的情况并从中倒推。</p>
</div><p>On a conference call with analysts to explain the bank's first-quarter earnings and, in particular, higher loan-loss provisions than expected, chief financial officer Pam Kaur explained just how dark - stock markets down 35% and oil at $145.</p>
<div class="lb-trans"><p>在与分析师的电话会议上，首席财务官 Pam Kaur 解释了银行第一季度的盈利情况，特别是贷款损失准备金高于预期的原因，指出股市下跌 35% 和油价达到 145 美元的严峻形势。</p>
</div><p>The S&amp;P 500 SPX, it should be noted, is only 0.4% away from a record high. In the Middle East, where HSBC took a big write-down, Saudi Arabia's all-share index is up 5% this year, and the FTSE Kuwait index is down just 1%.</p>
<div class="lb-trans"><p>值得注意的是，标准普尔 500 指数（S&amp;P 500 SPX）距离历史最高点仅有 0.4% 的差距。在中东，汇丰大幅减记的沙特阿拉伯全股指数今年上涨了 5%，而 FTSE 科威特指数仅下跌了 1%。</p>
</div><p>Oil is closest to HSBC's worst-case scenario, with Brent crude (BRN00) trading around $113.</p>
<div class="lb-trans"><p>油价接近汇丰的最坏情况，布伦特原油（Brent crude）交易价格约为 113 美元。</p>
</div><p>HSBC reported broadly flat pretax profits excluding one-time items of $10.1 billion, as revenue rose 4% to $19.1 billion. The bank did record a $1.3 billion charge on credit losses, including $400 million from a financial sponsor in the U.K. and $300 million from the Middle East conflict.</p>
<div class="lb-trans"><p>汇丰报告称，剔除一次性项目后，税前利润基本持平，为 101 亿美元，收入增长 4% 至 191 亿美元。该行确实记录了 13 亿美元的信用损失费用，其中包括来自英国一家金融赞助商的 4 亿美元和来自中东冲突的 3 亿美元。</p>
</div><p>Analysts at Citi said the Middle East provision was broadly as anticipated but the U.K. charge was not, and the provision was even higher than when peer Barclays took over MFS, a U.K. lender that collapsed. The identity of the company for which HSBC has provisioned was not disclosed.</p>
<div class="lb-trans"><p>花旗的分析师表示，中东的准备金大致符合预期，但英国的费用则不然，且该准备金甚至高于同行巴克莱收购倒闭的英国贷款机构 MFS 时的水平。汇丰计提准备金的公司身份未被披露。</p>
</div><p>&#34;This fraud is an idiosyncratic fraud,&#34; said Kaur, according to a FactSet transcript of its call. &#34;We have gone back and reviewed all our highest risk exposures across our portfolio and we see no comparable fraud risks. Therefore, we feel quite comfortable that this is a one-off fraud. It came to us through a secondary exposure through a financial sponsor.&#34;</p>
<div class="lb-trans"><p>Kaur 表示：“这是一种特有的欺诈行为，” 根据 FactSet 的电话会议记录。“我们已经回顾了我们投资组合中所有最高风险的敞口，未发现类似的欺诈风险。因此，我们相当有信心这是一种一次性的欺诈行为。它是通过一家金融赞助商的二次敞口传递给我们的。”</p>
</div><p>HSBC nudged up its forecast for banking net interest income to $46 billion, from &#34;at least&#34; $45 billion, while it also raised its expected credit loss forecast to 45 basis points from 40 basis points.</p>
<div class="lb-trans"><p>汇丰将其银行净利息收入的预测上调至 460 亿美元，从 “至少” 450 亿美元上调，同时将预期的信用损失预测从 40 个基点上调至 45 个基点。</p>
</div><p>HSBC shares (UK:HSBA) (HSBC) stumbled 5% in London trade, to reduce its year-to-date gain to 10%.</p>
<div class="lb-trans"><p>汇丰的股票（UK:HSBA）（HSBC）在伦敦交易中下跌 5%，使其年初至今的涨幅降至 10%。</p>
</div><p>Digital push</p>
<div class="lb-trans"><p>数字化推动</p>
</div><p>HSBC also said it made a big push into digital assets, including a tokenized gold product that's already seen $1 billion in value traded.</p>
<div class="lb-trans"><p>汇丰还表示，它在数字资产方面进行了大力推动，包括一个已经交易价值达到 10 亿美元的代币化黄金产品。</p>
</div><p>HSBC has Hong Kong's first retail-focused gold token, in a market that is currently led to two crypto-native firms, Tether and Paxos Trust. According to CoinGecko, there was $90.7 billion in tokenized gold trading in the first quarter.</p>
<div class="lb-trans"><p>汇丰推出了香港首个以零售为重点的黄金代币，目前市场由两家加密原生公司 Tether 和 Paxos Trust 主导。根据 CoinGecko 的数据，第一季度代币化黄金交易额为 907 亿美元。</p>
</div><p>Tokenized gold products are similar to gold-backed exchange-traded funds, though they're traded around the clock, settle nearly instanteously and don't charge annual expenses. However, ETFs have far more liquidity.</p>
<div class="lb-trans"><p>代币化黄金产品类似于黄金支持的交易所交易基金（ETF），但它们可以全天候交易，几乎即时结算，并且不收取年度费用。然而，ETF 的流动性要高得多。</p>
</div><p>HSBC also noted it's planning to launch a Hong Kong-dollar denominated stablecoin in the second half of the year, has launched a tokenized deposit service in five markets and is participating in central bank digital currency projects with eight central banks.</p>
<div class="lb-trans"><p>汇丰还指出，计划在下半年推出以港元计价的稳定币，并在五个市场推出代币化存款服务，同时参与与八家中央银行的中央银行数字货币项目。</p>
</div><p>The digital push comes as the bank is exiting several markets to become simpler and as it fully privatized its Hong Kong bank Hang Seng in January.</p>
<div class="lb-trans"><p>数字化推动的背景是，汇丰正在退出多个市场以简化业务，并于 1 月完全私有化其香港银行恒生银行。</p>
</div><p>-Steve Goldstein</p>
<div class="lb-trans"><p>-Steve Goldstein</p>
</div><p>This content was created by MarketWatch, which is operated by Dow Jones &amp; Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.</p>
<div class="lb-trans"><p>本文由 MarketWatch 创作，MarketWatch 由道琼斯公司运营。MarketWatch 与道琼斯新闻通讯和《华尔街日报》独立出版。</p>
</div><p>(END) Dow Jones Newswires</p>
<div class="lb-trans"><p>（完）道琼斯新闻通讯</p>
</div><p>05-05-26 0434ET</p>
<div class="lb-trans"><p>05-05-26 0434ET</p>
</div>

HSBC's darkest scenario: stock markets down 35% and oil at $145

- 汇丰银行在第一季度录得 13 亿美元的信用损失拨备。  
- 毛利润保持平稳，收入增长 4% 至 191 亿美元。  
- 汇丰计划推出港币稳定币并加强数字资产推广。

汇丰的最糟糕情景：股市下跌 35%，油价升至 145 美元