By Jonathan Davies

Tax authorities in Argentina have demanded HSBC pay a $3.5bn bill for helping its clients move offshore.

The head of the Argentinian tax authorities, Ricardo Echegaray, said that $3.5bn was the total amount HSBC helped clients move. And Mr Echegaray said the move threatened the stability of the country's economy.

"HSBC built a platform to help clients evade tax," said Mr Echegary in a press briefing at London's Argentine embassy.

British tax authorities have asked for details about Argentina's case about HSBC.

The demand was made hours before several top HSBC officials, both current and former, faced questioning by MPs over the tax scandal in which the bank helped hundreds of clients to avoid paying tax in the UK by moving funds to its Swiss arm.