Thursday, August 9, 2007

The exposure at the banks surveyed was slightly more than Y1,000bn as at the end of June, according to the research

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 (421 views)
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One thought on “The exposure at the banks surveyed was slightly more than Y1,000bn as at the end of June, according to the research

  • 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.

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