Thursday, August 2, 2007

US investment bank already reeling from the American sub-prime crisis, said that it had halted redemptions in another of its hedge funds as nervous investors tried to pull their money out.

Credit markets leave banks saddled with £250bn of debt

Leading investment banks on both sides of the Atlantic are saddled with almost $500 billion (£246 billion) in agreed leveraged loans that they are unable to parcel out to other investors. New figures from Dealogic reveal that in Europe the banks are struggling to clear a backlog of $208 billion worth of leveraged loans that they would normally have sold on through syndication. In the United States, the figures also show that investment banks are stuck with $269 billion of agreed loans that they are unable to syndicate.

Posted by chris :-)) @ 02:11 AM (321 views)
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