Currency Rates for Trade Loans

Currency Rates* for Trade Loans


Currency	Country	Reference Rate*
EUR	Eurozone	European Central Bank Main Refinancing Rate
USD	USA	Mid-Point of FED Target Range
CHF	Switzerland	Swiss National Bank Policy Rate

*The reference rate link in the table will direct you to the latest Currency Rates to 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.

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%.

HSBC Currency Base Rates**


Currency	Country	Reference rate
GBP	United Kingdom	https://www.bankofengland.co.uk/
CAD	Canada	https://www.bankofcanada.ca/core-functions/monetary-policy/key-interest-rate/
JPY	Japan	https://www.boj.or.jp/en/mopo/index.htm
DKK	Denmark	https://www.nationalbanken.dk/en/monetarypolicy/Pages/default.aspx
NOK	Norway	https://www.norges-bank.no/en/topics/Monetary-policy/Policy-rate/
SEK	Sweden	https://www.riksbank.se/
AUD	Australia	https://www.rba.gov.au/cash-rate-target-overview.html
NZD	New Zealand	https://www.rbnz.govt.nz/
AED	United Arab Emirates (UAE)	https://www.centralbank.ae/en/
HKD	Hong Kong	https://www.hkma.gov.hk/eng/data-publications-and-research/data-and-statistics/daily-monetary-statistics/
ZAR	South Africa	https://www.resbank.co.za/en/home/what-we-do/statistics/key-statistics/current-market-rates
PLN	Poland	https://nbp.pl/en/
CNY	China	http://www.pbc.gov.cn/en/3688229/3688335/3883798/index.html
SGD	Singapore	https://www.mas.gov.sg/monetary-policy/sora

Currency Base Rates are the rates of interest you would pay excluding a margin to be agreed with the Bank if you borrowed sums using a Trade Loan for the currencies listed in this table. The interest rates are set by external third party institutions

Notes

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 Base Rate for any currencies. A link to the relevant bank policy rate is provided to assist.
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 Currency Base Rate (as applicable).
Any change to Reference Rates or Currency Base Rates will be applied to the Trade Loan on /or the business day after the Currency Rate is changed.
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.
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 in the same currency in which the credit is provided.