Core member of the HSBC group. Funding and liquidity. Good U.K. franchise. Good business diversity. Weakening credit risk across its business lines and geographies. Difficult earnings prospects arising from revenue pressures and rising loan impairments. The ratings on U.K.-incorporated HSBC Bank PLC (HSBC Bank) reflect its position within HSBC Holdings PLC (the Group; AA-/Negative/A-1+), its own strong business profile, and Standard&Poor's Ratings Services' consideration that its financial profile is above average compared to U.K. peers, benefiting in particular from its very strong funding and liquidity profiles. HSBC Bank is a wholly owned, direct subsidiary of the Group, the ultimate holding company. HSBC Bank comfortably satisfies our criteria as a core subsidiary of the Group, and this relationship benefits
