HSBC seen facing another hit from U.S. mortgages

LONDON (Reuters) - Europe's biggest bank HSBC Holdings (HSBA.L: Quote, Profile , Research) is this week expected to unveil a further big hit from its exposure to the U.S. mortgage crisis.
HSBC Finance, the unit formerly called Household, will unveil third-quarter results on Wednesday.

The Sunday Telegraph newspaper said HSBC will reveal a new $1 billion hit in the results. But the figure could be higher than that as losses from the run-off of the U.S. mortgage book was about $2 billion in the second quarter and the market has deteriorated since then, analysts have said.

HSBC declined to comment on Sunday.