British Chancellor George Osborne's annual Mansion House speech later will be closely watched for potential olive branches to banks like HSBC, considering leaving the UK.
HSBC announced massive job cuts on Tuesday, and is to decide whether to leave Britain for Hong Kong by the end of the year.
It's one of several banks considering a move over what they see as a punitive regulatory regime in the UK.
And it follows a surprise hike in the bank levy - a tax on their balance sheets - announced before May's election.
Alex Brummer, City editor of the Daily Mail, says George Osborne knows HSBC have threatened a return to Hong Kong before.
IN: "There's a...
OUT: ...to go."
DUR: 30 seconds