French banks plan liquidity fund
Article Abstract:
Five banks in France are establishing a conduit investment fund to assist small to midsize asset management firms in the event of a shortage in liquidity. The banks involved are Natixis, the Calyon unit of Credit Agricole SA, the French division of HSBC Holdings PLC, Societe Generale S.A., and BNP Paribas S.A. To create the fund, the banks would put in up to $1.47 bil of their asset-backed securities.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2007
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German bank blames UBS for subprime hit
Article Abstract:
HSH Nordbank AG issues a statement in which it blames the bank's recent financial losses on the purchase of collaterized debt obligations from UBS AG for $500 million. Article discusses the effects of the U.S. subprime mortgage crisis on the international banking sector.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2008
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