Stuart Gulliver, HSBC's chief executive said in a statement: "We accept responsibility for our past mistakes. We have said we are profoundly sorry for them, and we do so again [...] we will continue to work closely with governments and regulators around the world.”



The lender said that the DoJ would continue to monitor the bank's progress over the next five years to ensure that the bank "fully implement[ed]" additional compliance measures.



Shareholders in HSBC were warned earlier this year by chief executive Stuart Gulliver that a settlement could cost more than $1.5bn.