XG3L/2044
BANKING SUPERVISION DIVISION
Telephone
071-601 5005
The Financial Secretary
Government Secretariat
Central Government Offices Hong Kong
Dear Sir
SIDE LETTER
The Hongkong and Shanghai Banking Corporation Ltd ("the Company")
The Bank of England is aware of the letter of comfort dated
given by HSBC Holdings plc in respect of support for the Company and its subsidiaries.
The provision of such support will be subject to prior
consultation with and the approval of the Bank of England as lead supervisor: there may be circumstances in which such approval might not be forthcoming.
Yours sincerely
The Bank of England