Weekly Global News Wrap Up: HSBC to cut 380 jobs in the UK; EU mulls testing banks' defenses against cyberattacks; Will banks move to Amsterdam post-Brexit?

And banks are urged to offer assistance to customers with mental health problems.

According to Reuters, HSBC said it plans to close 117 branches this year and will cut 380 roles in Britain to try to reduce costs. The bank said about 180 jobs will be eliminated in the final round of branch network cuts, marking the end of its restructuring programme in Britain. Read more here. 

The European Union is considering testing banks' defenses against cyber attacks, EU officials and sources said, as concerns grow about the industry's vulnerability to hacking. Cyber attacks against banks have increased in numbers and sophistication in recent years, with criminals finding new ways to target banks beyond trying to illicitly obtain details of their customers' online accounts. Read more from Reuters here.

According to The Guardian, Amsterdam is in talks with major financial institutions based in the city of London about their imminent relocation to the Dutch capital, but its deputy mayor has warned the national government that the country’s strict cap on bankers’ bonuses could put it at a disadvantage in the Europe-wide scramble to capture Britain’s financial sector. Read more here. 

A BBC report says banks must offer basic account options, as given to other vulnerable people, to assist those struggling with mental health conditions. Mental health problems affected everyday activities such as budgeting and paying bills, the Money and Mental Health Policy Institute (MMHPI) said. Read the full story here.