HSBC says Household Finance liabilities at $70 bln

HONG KONG Mon May 24, 2010 2:50pm IST

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HONG KONG May 24 (Reuters) - HSBC HOLDINGS (HSBA.L) (0005.HK), Europe's biggest bank, is working off $20 billion worth of loans per year in its U.S. Household Finance Corp. unit, said the bank's CEO on Monday.

Household Finance Corp's liabilities stood at about $70 billion, HSBC Chief Executive Michael Geoghegan said in Hong Kong on Monday, ahead of the bank's annual shareholders' meeting on May 28.