354964--3/1/2010--HSBC_Finance

related topics

{loss, insurance, financial}

{financial, litigation, operation}

{regulation, change, law}

{cost, contract, operation}

{system, service, information}

{product, market, service}

{personnel, key, retain}

{capital, credit, financial}

The transition to Basel II in 2011 may continue to put significant pressure on earnings and capital. Newly-implemented Federal and state laws and regulations may significantly impact our operations. Our inability to meet funding requirements could impact operations. Operational risks, such as systems disruptions or failures, breaches of security, human error, changes in operational practices or inadequate controls may adversely impact our business and reputation. Lawsuits and regulatory investigations and proceedings may continue and increase in the current economic and anticipated regulatory environment. Our reputation has a direct impact on our financial results and ongoing operations. Key employees may be difficult to retain due to the contraction of the business and limits on promotional opportunities. Unanticipated risks may impact our results. Management projections, estimates and judgments based on historical performance may not be indicative of our future performance. Changes in accounting standards are beyond our control and may have a material impact on how we report our financial results and condition. Significant reductions in pension assets may require additional financial contributions from us. Performance of modified loans in the current economic conditions may prove less predictable and result in higher losses.

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354964--3/1/2010--HSBC_Finance_Corp