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Post by anenro on May 15, 2021 17:58:40 GMT 4
Question.
Do any of you, qualified bankers, know if a bank in Mexico (HSBC Mexico) can issue (legally) a SWIFT MT760 to a another bank in the UK or USA?
I tried finding out. But, my key person is traveling and I am unable to make contact with him.
I need to know the answer ASAP
Thank you.
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Post by Sapphire Capital on May 15, 2021 23:31:57 GMT 4
yes they can, they are a money center bank. In addition they are a regional center for HSBC. As a principal member of the HSBC Group HSBC Mexico is responsible for operations principally HSBC Bank (Panama) S.A., HSBC Colombia S.A. formerly Grupo Banistmo, HSBC Costa Rica through the acquisition of the local bank Banex, HSBC El Salvador by the acquisition of the local bank Banco Salvadoreño and HSBC Honduras through what was BGA.
However from a certain amount onwards HSBC Central is involved, but they are allowed to issue
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Post by alanbond on May 16, 2021 0:27:22 GMT 4
careful there, yes they can, but depends on which business, its an internal restriction, purely financial only for local credit enhancement within their region
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Post by anenro on May 17, 2021 1:56:39 GMT 4
yes they can, they are a money center bank. In addition they are a regional center for HSBC. As a principal member of the HSBC Group HSBC Mexico is responsible for operations principally HSBC Bank (Panama) S.A., HSBC Colombia S.A. formerly Grupo Banistmo, HSBC Costa Rica through the acquisition of the local bank Banex, HSBC El Salvador by the acquisition of the local bank Banco Salvadoreño and HSBC Honduras through what was BGA. However from a certain amount onwards HSBC Central is involved, but they are allowed to issue Thank you for sharing your knowledge with me. Best wishes. |
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Post by anenro on May 17, 2021 1:58:49 GMT 4
careful there, yes they can, but depends on which business, its an internal restriction, purely financial only for local credit enhancement within their region Meaning, HSBC Mexico, cannot or will not issue a SWIFT MT760 to my bank in Switzerland (CS)? Thank you for your support and assistance in sharing your knowledge on this subject. |
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Post by alanbond on May 17, 2021 8:00:41 GMT 4
hm if its purely a financial instrument not an instrument for an actual sale of something material it depends if the cover for the instrument is in Mexico or the otherwise served countries. They can but will go through Central Compliance in London
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Post by anenro on May 17, 2021 22:29:09 GMT 4
hm if its purely a financial instrument not an instrument for an actual sale of something material it depends if the cover for the instrument is in Mexico or the otherwise served countries. They can but will go through Central Compliance in London I understand. Thank you. |
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