Core member of the HSBC group. Stable and diverse franchise in core markets, particularly the U.K. Strong customer deposit franchise underpins a robust funding profile. Material corporate and investment banking activity creates some earnings volatility. Conduct charges such as customer redress costs constrain internal capital generation. Moderate capitalization compared to the wider group. Standard&Poor's Ratings Services' outlook on HSBC Bank PLC is negative, mirroring that on its parent HSBC Holdings PLC. Reflecting our view that potential extraordinary government support for European banks will likely decrease as resolution frameworks are put into place, we may revise down the ratings on HSBC Bank by year-end 2015 if we believe there is a greater likelihood that senior unsecured liabilities may incur
