30 Aug 2010 13:05

SEB's exposure towards HQ Bank fully collateralised

In a difficult situation for HQ Bank and its customers, SEB is assisting the bank and its customers following today's petition to the District Court of Stockholm to liquidate HQ Bank. As custodian and clearing bank, SEB is settling all securities transactions in an orderly manner.

SEB has a credit exposure towards HQ Bank of SEK 141m, securities lending amounting to a nominal value of SEK 600m and settlement guarantees of SEK 307m.

SEB's engagement does not pose a loss risk for the bank as collateral in the form of cash, bonds and shares with ample margin exceeds this claim.

For further information, please contact
Ulf Grunnesjö, Head of Investor Relations
+46 8-763 85 01, +46 70-763 85 01

 
Press contact
Viveka Hirdman-Ryrberg, Head of Corporate Communications
+46-8-763 85 77, +46 70-550 35 00

 
 

SEB is a North European financial group serving some 400,000 corporate customers and institutions and five million private individuals. SEB offers universal banking services in Sweden and the Baltic countries - Estonia, Latvia and Lithuania. It also has local presence in the other Nordic countries and in Germany and a global presence through its international network in major financial centres. On 30 June 2010, the Group's total assets amounted to SEK 2,318bn while its assets under management totalled SEK 1,328bn. The Group has about 20,000 employees. Read more about SEB at www.sebgroup.com.