HSBC says it will make its decision whether to move its headquarters out of the UK within months rather than years.
It has been based in the country since 1993, when it moved here in order to take over High Street giant Midland Bank.
"It's going to take us a few months, not years [to make a decision]," said chief executive Stuart Gulliver.
Only 250 jobs out of 48,000 UK-based HSBC employees would be transferred if the headquarters relocated, said HSBC.
The bank may give details of the methodology that it will use to assess whether to move on 9 June.
Its decision will be submitted to HSBC's board before being taken to its shareholders.
The review follows plans announced in the Budget to increase the bank levy from 0.156% to 0.21%.
The levy particularly affects banks with large balance sheets, such as HSBC.
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