In an initiative to provide customers with an insight into the benefits of euro adoption, HSBC Malta held a corporate conference for business customers.

The conference focused on the new and differing interest rate and foreign exchange risks with the euro and the hedging techniques available for borrowers and investors. Expert speakers who made presentations at the conference inc-luded Sir Charles Denny and Mr David Bloom, from HSBC Global Markets.

Shaun Wallis, CEO, HSBC Malta said: “The euro is the second most important international trading currency in the world after the dollar and is fast becoming a major reserve currency. It brings a number of issues and opportunities which businessmen need to understand and identify and subsequently address in their own companies. In particular, management of the euro will be through the eurosystem of the ECB and National Central Banks, and largely outside Malta’s control. The euro brings different levels of volatility in interest rates and currencies to what Malta has experienced. Conversely, it brings a deeper range of risk management products to help businesses. As the largest Bank headquartered in the EU and one of the world’s leading treasury banks, HSBC Malta’s own treasury is well placed to help local businessmen in this respect. We will be having workshops for corporate clients over the transition period.”