HSBC increase their factoring charges due to Basel 11 ?

I heard last week that the factoring division of HSBC had increased the interest charge to one of their recruitment company clients from 1.5% over Base to 3.5% over Base and had also increased the factoring service charge. They stated that the reason for this was down to Basel 11

In the same week I read an article in The Times that said “History, of a sort, was made this week when HSBC declared that, from next month, it will be offering its “lowest mortgage rate ever” – a super-cheap 2.99 per cent deal”

Something doesn’t quite add up here