EXHIBIT 23.1


                       Consent of Independent Accountants



The Board of Directors
HSBC USA Inc.:

We consent to the use of our report dated February 1, 2002, with respect to the
consolidated balance sheets of HSBC USA Inc. and subsidiaries as of December 31,
2001 and 2000, and the related consolidated statements of income, changes in
shareholders' equity, and cash flows for each of the years in the three-year
period ended December 31, 2001, and the consolidated balance sheets of HSBC Bank
USA and subsidiaries as of December 31, 2001 and 2000, incorporated herein by
reference and to the reference to our firm under the heading "Experts" in the
Post-Effective Amendment No. 1 to Form S-3.


/s/ KPMG LLP
April 2, 2002
New York, New York