Comments on: HSBC Lowers Lending Rates Amid Covid-19

By: ace girl

ace girl — Thu, 19 Mar 2020 13:05:29 +0000

I haven’t heard any mention of mortgage relief. Butterfield have given their customers 3 months mortgage relief. Thats the type of help needed at a time like this

By: Anthony

Anthony — Wed, 18 Mar 2020 02:30:57 +0000

Yes, I do realise that. The article is not about other banks though, it’s about HSBC. And it is basically just PR from them, acting like they’re helping the little guy. I’m not absolving others from blame but others weren’t mentioned in this article.

By: curious

curious — Tue, 17 Mar 2020 02:52:13 +0000

so what does this mean in simple terms for ones mortgage ?

By: ahh-no

ahh-no — Mon, 16 Mar 2020 20:19:21 +0000

@Anthony. You do realize that all of the banks lowered their base consumer / personal rates?
If you compare the new rates, it stands at Butterfield 4.75%, Clarien 4.0% and HSBC 3.5%. Butterfield raised their rates just about everytime the US increased rates. Clarien and HSBC did not, thus thire rates are at a lower level, 75 and 125 bp lower, respectively.

By: Not Good Enough

Not Good Enough — Mon, 16 Mar 2020 17:59:44 +0000

Butterfield Bank and Clarien both announced 0.5% rate cuts today as well…
HSBC Bermuda, you are pathetic

By: Twilight Zone

Twilight Zone — Mon, 16 Mar 2020 16:56:47 +0000

I couldn’t agree with you more. The fact that it goes into effect 1 May makes it even more pathetic. People need help now!!!

By: Anthony

Anthony — Mon, 16 Mar 2020 14:43:43 +0000

0.25%? Sorry but that’s pathetic. The Fed has cut rates by 1.5% in the past two weeks. All of that should have been passed on to customers. Keeping 1.25% of the discount for yourselves and passing on a measly 0.25% is bad enough as it is – but to then proclaim that you are doing it to proactively support customers during the virus outbreak is just taking the proverbial. In the absence of a central bank, our banks are the engine of our credit economy and you are absolutely failing us.

By: Jack Archer

Jack Archer — Mon, 16 Mar 2020 14:18:56 +0000

better than nothing but ….