HSBC Bids For US Marketshare With $10.3 Billion Republic Deal

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LONDON--HSBC Holdings is already firmly entrenched among the top five global FX players, but last week's proposed $10.3 billion acquisition of Republic New York Corporation (RNYC) and Safra Republic Holdings, RNYC's sister bank, will add a valuable US franchise, say market officials.

RNYC is the holding company for Republic National Bank of New York, the commercial banking business.

If the deal goes ahead, RNYC will be merged with HSBC Bank USA, HSBC's wholly-owned US subsidiary, according to