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  • July 22, 2014
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  1. Business - Banking & Finance - BANKING

    Citigroup to pay US$7b in settlement on US subprime mortgage fiasco

    Posted Jul 15th 2014, 01:36am by AP

    ... Associated Press in Washington Citi settles subprime probe for US$7b Citigroup will pay US$7 billion to settle an investigation into risky subprime mortgages, the type that helped fuel the US financial crisis. The settlement stems from the sale of securities made up of subprime mortgages, which fuelled both the housing boom and the bust that triggered the Great Recession ...

  2. HSBC mulls US acquisitions amid subprime mortgage woes

    Posted Apr 02nd 2008, 12:00am by Staff Reporter

    ... Maria Chan HSBC Holdings, the global lender haunted by US subprime mortgage woes, has indicated that it has no plans to pull out of the US market and may even make acquisitions there. ... measures to address the US subprime problem, including business restructuring, tightened mortgage underwriting criteria, and reduced assets through sales and write-downs. He said that the mortgage ...

  3. HSBC accused of undervaluing subprime mortgage bonds

    Posted Oct 20th 2007, 12:00am by Staff Reporter

    ... HSBC Holdings is being sued by a US real estate fund for allegedly deliberately undervaluing the market price of several subprime mortgage bonds, the Wall Street Journal reported ... office placed an improperly low valuation on nine subprime mortgage bonds, which were being sold by the fund's subsidiaries in return for loans. Pierre Goad, an HSBC spokesman in London, ...

  4. Business - Banking & Finance

    UBS agrees US$885m deal for subprime lawsuit

    Posted Jul 27th 2013, 12:00am by BLOOM

    ... subprime mortgage losses that pushed them towards insolvency. UBS disclosed this week that it had reached an agreement in principle to settle the suit. "The satisfactory resolution ... Bloomberg in Washington UBS agrees US$885m deal for subprime lawsuit UBS, Switzerland's largest bank, has agreed to pay US$885 million to Fannie Mae and Freddie Mac to settle claims ...

  5. Business - China Business - CREDIT RATINGS

    Echoes of US subprime seen in China debt ratings

    Posted Mar 08th 2014, 01:40am by BLOOM

    ... Bloomberg Market warned that competition among China's rating agencies is leading to a fall in standards Echoes of US subprime seen in China debt ratings Competition among ... for the worst downturn since the Depression that began in 1930, as rating companies lowered standards to win business amid a housing boom that fuelled issuance of mortgage-backed bonds. China ended ...

  6. Business - Banking & Finance

    Ex-Goldman banker Tourre denies creating subprime 'monstrosities'

    Posted Jul 26th 2013, 09:04am by BLOOM

    ... Bloomberg in New York Failed US$1b subprime mortgage investment was not designed to fail, court told Ex-banker denies creating 'monstrosity' Fabrice Tourre has previewed his ... Paulson. The SEC claims Tourre hid that Paulson helped choose the portfolio of subprime mortgage-backed securities underlying Abacus, then made a US-billion-dollar bet it would fail. Tourre's ...

  7. Subprime problems unlikely to keep HK market down

    Posted Aug 17th 2007, 12:00am by Jake Van Der Kamp

    ... Jake van der Kamp 'Hong Kong stocks fell yesterday, pushing the Hang Seng Index to a two-month low, on concern United States subprime mortgage losses would spread, dampening global ... refrain that I have heard over the last two weeks about this subprime mortgage business in the US- 'Why is anyone surprised? This was waiting to happen for several years. We knew it had ...

  8. Business - Money - DEBT

    Global watchdogs search for new credit bubble risks

    Posted Jul 11th 2014, 01:31am by Reuters

    ... of another subprime time bomb are inevitable. But even if you believe another crisis is brewing, it is most likely not where it was last time. At least not in US securitised mortgages- the heart ... by subprime mortgages have all but vanished. Bonds backed by subprime US car loans have taken up some of the running, but not on anything like the same scale. Yet in its latest annual report, the Bank ...

  9. Fitch cuts HK growth forecast to 4.4pc on subprime, oil concerns

    Posted Feb 21st 2008, 12:00am by Enoch Yiu

    ... the strong stock market, which will offset the provisions made for the subprime mortgage-structured products.' The hardest-hit lender would be Citic Ka Wah Bank, but its ultimate parent, Citic ... Enoch Yiu Fitch Ratings yesterday cut its estimate of Hong Kong's economic growth this year to 4.4 per cent from 5.3 per cent due to a host of factors ranging from the subprime ...

  10. Property - Hong Kong & China

    Chinese developer's zero-interest loans highlights industry risks

    Posted Jul 19th 2014, 01:59am by Reuters

    ... hefty deposits from buyers seeking mortgages. It is not in the Chinese culture to take on too much debt JAMES MACDONALD, SAVILLS RESEARCH Many analysts believe the slowing property sector poses ... construction plunged. In June, mortgage lending rose 6 per cent from May to 117 billion yuan (HK$147 billion), compared with monthly growth of 2.5 per cent in May. Liao Qun, chief economist at Citic ...




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