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HSBC said it is disproportionately affected because it has the largest balance sheet of the UK-based banks.
An analysis last month by Donghoon Lee, an economist at the Federal Reserve Bank of New York, found that "student debt is the only kind of household debt that continued to rise through the Great Recession" and is now the "second largest balance after mortgage debt".
Once the smallest loan is paid off, you move onto the next-smallest debt, eventually working your way up to the loan with the largest balance.
You can also consider sorting them by balance (i.e. showing the largest balance first really gets your attention, but showing the lowest balance first gives you encouragement that at least 1 bill will be paid off soon).
Similar(56)
Secondly, we have a very large balance sheet.
Nationwide still offers 5% on a slightly larger balance of £2,500 for Flex customers.
"But we've had the luxury of being a stable landlord with a large balance sheet".
■ Person 2: someone always in credit but not with a large balance Pru has a £1,500 average monthly balance after paying all her bills from the account.
Energy experts said the changes would not radically boost competition because only companies with large balance sheets can take the risk of energy prices slumping.
Unlike other Wall Street firms, Citigroup and J. P. Morgan have large balance sheets and have boasted of their ability to provide both loans and advice.
A retreat from the market by large balance sheet banks could have a lasting impact on both deal activity and deal structures premised on committed financing.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com