Thursday, Aug 09, 2007
The exposure at the banks surveyed was slightly more than Y1,000bn as at the end of June, according to the research
ft: Japan’s banks in $8.3bn subprime exposure
Japan’s large banks could have an aggregate exposure of Y1,000bn ($8.3bn) to the stricken US subprime mortgage market, highlighting the extent to which the problems of low-quality mortgages in the US are affecting investors globally.
According to recent estimates by UBS, which surveyed the top nine banks, the largest exposure to the US subprime sector appears to be through investments in complex financial instruments such as collateralised debt obligations and other securitised products that have subprime loans as their underlying assets.
Posted by japanese housewife @ 04:41 AM (155 views) Add Comment
1 Comment
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. paul said...
This is the problem with CDOs and complex leveraged products - no-one has a clue about the extent of their exposure!
This alone will be a HUGE factor in the looming global crisis of confidence in debt.