Currency Rates for Trade Loans
Currency Rates* for Trade Loans
| Currency | Country | Reference Rate* | Rate as at 29/04/2022 |
|---|---|---|---|
| EUR | Eurozone | European Central Bank Main Refinancing Rate | 0% |
| USD | USA | Mid-Point of FED Target Range | 0.375% |
| CHF † | Switzerland | Swiss National Bank Policy Rate | 0% |
*The Currency Rates in this table show the rates of interest you would pay (as at the stated date) excluding a margin to be agreed with the Bank, if you borrowed sums using a Trade Loan for the stated currencies. The rates in this table are Reference rates, which means the rates are linked directly to the publicly available external benchmark rates. A benchmark rate is the published market rate from time to time as set by a third party institution (such as the European Central Bank) rather than by HSBC. Interest rate benchmarks including the London Interbank Offered Rate (LIBOR) and certain other Interbank Offered Rates (IBORs) are being reformed. These reforms are expected to cause at least some IBORs to perform differently to the way they do currently or to disappear, which may impact the HSBC products and services you currently use and those we provide in the future. Please visit IBOR reforms for further information.
The current benchmark rate for HSBC Trade Loans denominated in EUR, USD, or CHF are listed in this table. Where the benchmark for any Reference Rate falls below 0%, the Reference Rate will be deemed to be 0%. Reference Rates where this is currently the case are marked in this table with the symbol (†).
HSBC Currency Base Rates**
| Currency | Country | HSBC's Currency Base Rate** as at 29/04/2022 |
|---|---|---|
| GBP | United Kingdom | 0.75% |
| CAD | Canada | 1.00% |
| JPY | Japan | 0.00% |
| DKK | Denmark | 0.00% |
| NOK | Norway | 0.00% |
| SEK | Sweden | 0.25% |
| AUD | Australia | 0.10% |
| NZD | New Zealand | 1.81% |
| AED | United Arab Emirates (UAE) | 0.40475% |
| HKD | Hong Kong | 0.05583% |
| ZAR | South Africa | 5.30% |
| PLN | Poland | 4.65% |
| CNY | China | 1.26983% |
| SGD | Singapore | 0.3786% |
**HSBC Currency Base Rates are the rates of interest you would pay (as at the stated date) excluding a margin to be agreed with the Bank if you borrowed sums using a Trade Loan for the currencies listed in this table. HSBC Currency Rates are interest rates set by HSBC, rather than by an external third party institution.
Notes
- The Reference Rates and HSBC Currency Base Rates stated on this page were correct as at 29/04/2022. These rates are variable and can change from day to day – so the rates stated above may not be the current rates applied to your account. Please speak to your Relationship Manager to find out the current HSBC Currency Base Rate for any of our currencies. The information on this website will be updated on a frequent basis.
- Where you have agreed a Trade Loan with us, the rate you pay for borrowing up to your agreed limit will be your agreed margin plus the relevant Reference Rate or HSBC Currency Base Rate (as applicable).
- Any change to Reference Rates or HSBC’s Currency Base Rates will be applied to the Trade Loan the business day after the Currency Rate is changed.
- We reserve the right to change HSBC’s Currency Base Rate at any time, please contact your Relationship Manager if you need further clarification on HSBC’s Currency Base Rate.
- The Bank may refuse a request for a Trade Loan if the Bank determines that deposits in the relevant currency are not available to it.
- The HSBC Currency Base Rates are variable rates set at the discretion of HSBC and on the basis of a number of different factors and inputs determined by HSBC. They are made available to customers of HSBC with reference solely to facilities provided by HSBC to those customers. Use by any other party for any other purpose is expressly prohibited.
- Obtaining credit in a foreign currency exposes you to an inherent risk of exchange rate fluctuations. The domestic (i.e. Sterling) equivalent value of your borrowings in a foreign currency will increase if the value of Sterling falls against the foreign currency. This may affect your ability to repay your borrowings. Borrowings must be repaid in the same currency in which the credit is provided.