Europe's biggest bank HSBC Holdings said it had no plans to use a UK government offer to recapitalise as it can keep a strong capital position through its own resources.

"HSBC has no current plans to utilise the UK recapitalisation programme initiative announced today. We do agree to observe the tier 1 capital requirements, but we will do this through our own resources," a spokesman said.

HSBC has one of the strongest capital and liquidity positions in the industry, with a tier 1 capital ratio of 8.8 percent and a loans/deposits ratio of 90 percent.

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