How turmoil melted a money fund: mortgage problems hit a Credit Suisse vehicle; its assets, yields slide
Article Abstract:
Credit Suisse Institutional Money Market Prime Fund, a vehicle of Credit Suisse Group, has dropped to $10 bil from a July 2007 high of $25.5 bil, due primarily to mortgage-backed securities that became vulnerable to the current credit crisis. The firm had used portals, or computer-based money market fund listings, to draw high yields. Investment losses for Credit Suisse Group have exceeded $100 mil.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2007
User Contributions:
Comment about this article or add new information about this topic:
U.S. banks vie for big postwar roles
Article Abstract:
U.S.-based banks are positioning themselves for a highly-profitable role in reconstructing postwar Iraq's finanicial system. Citigroup, Bank of America, and J.P. Morgan have expressed interest in reconstructing the Iraqi financial system.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2003
User Contributions:
Comment about this article or add new information about this topic:
Zurich might acquire partner for Scudder Investment unit
Article Abstract:
Zurich Financial Services Group is seeking a partner that will merge with its Zurich Scudder Investments unit. Scudder has seen major funding outflows in its business.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2001
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Societe Generale's net profit sinks. Societe Generale posts strong profit
- Abstracts: Cazenove lifting veil of secrecy form its business. Credit Lyonnais eyes online trading pacts
- Abstracts: Taming media monsters. Still thinking: media ownership in Europe. Media muzzle
- Abstracts: In Asia funds, smaller was beautiful. Hedge funds try to lose their villainous reputation. Firm takes aim at Australia
- Abstracts: Accor, U.S. funds to buy 52 hotels from Vivendi. Hilton to sell Scandic chain to EQT