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  • September 22, 2014
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  1. UBS pushes Asia growth after subprime setback

    Posted Jun 10th 2008, 12:00am by Enoch Yiu

    ... Enoch Yiu Swiss bank working on business and governance reforms UBS, one of the hardest-hit victims of the subprime mortgage crisis, will continue to expand its wealth management ... and other mortgage-related positions to US fund manager Blackrock, he said. UBS' subprime exposure first emerged when its Dillon Read Capital Management hedge fund, run by former investment ...

  2. Funds and concessions help relieve earthquake losses

    Posted May 26th 2008, 12:00am by Staff Reporter

    ... in the rural areas estimated its bad loans would increase by 6 billion yuan. China Construction Bank announced that it would provide mortgage concessions in quake areas for people to buy flats. Mortgage loans could be discounted by as much as 15 per cent while other loans 10 per cent, Xinhua reported last week. By Wednesday last week, mainland banks had lent 6.5 billion yuan and issued ...

  3. Chinese banks may not be as solid as they look

    Posted Jan 19th 2009, 12:00am by Tom Holland

    ... with Tom Holland As a fresh attack of the jitters shakes the world's financial system, the stocks of mainland banks listed in Hong Kong have held up relatively well. Unfortunately, their apparent stability could prove an illusion. At first, the recen ...

  4. What price stability?

    Posted Sep 15th 2008, 12:00am by James Dorn

    ... James Dorn The US Treasury's takeover of Fannie Mae and Freddie Mac, the nation's largest mortgage financers, was predictable. The drive for profits while housing prices were rising, and the expectation that the federal government would not let these market-socialists fail, allowed Fannie and Freddie to accumulate a huge portfolio of mortgages and mortgage ...

  5. In Brief

    Posted Jul 22nd 2005, 12:00am by Staff Reporter

    ... in turnover to $3.43 million. wharf offers mortgages Wharf (Holdings) plans to provide fixed-rate mortgages with the support of banks, in view of rising interest rates. A company official said ...

  6. BOCHK sets aside further HK$3.2b for US credit exposure

    Posted Oct 30th 2008, 12:00am by Staff Reporter

    ... an analyst at Kim Eng Securities. Mr Li said the lender might see a double-digit profit decline for the full year. The bank's exposure to US subprime mortgage-backed securities stood at HK$1.1 ... for the third quarter included HK$2.24 billion for prime residential mortgage-backed securities and a HK$339 million charge for senior unsecured debts issued by Lehman Brothers Holdings. There was also ...

  7. No longer a local bank, HSBC faces global trials

    Posted Mar 03rd 2009, 12:00am by Staff Reporter

    ... to a downturn that has left its mark. Net profit fell to US$5.7 billion last year from US$19.1 billion the year before, largely as the result of losses on consumer finance in the US subprime mortgage ... reserves during the current crisis, expansion has not come at the cost of prudence. For example, HSBC acted before many others to account for the meltdown in the US subprime mortgage market. It has ...

  8. Commodities stocks gain on inflation fears

    Posted Mar 20th 2009, 12:00am by Eric Ng

    ... investment firm Paulson & Co, which made handsome gains betting that subprime mortgage values would plunge, has bought a stake in South African miner AngloGold Ashanti for US$1.28 billion. ... to an additional US$1.15 trillion to buy government bonds and mortgage-backed securities to cut borrowing costs and revive the economy. Gains were led by gold counters, with Lingbao Gold jumping 15.06 per ...

  9. The Citigroup rescue- a clear case of necessity

    Posted Nov 25th 2008, 12:00am by Staff Reporter

    ... of confidence by investors in the bank's ability to recover from the subprime mortgage meltdown. It has not made a profit for four quarters and has announced plans to cut tens of thousands of jobs, ... International Group and the mortgage firms Fannie Mae and Freddie Mac; in March, it gave financial backing to JP Morgan Chase's buyout of the investment bank Bear Stearns. President-elect Barak ...

  10. CCB to launch 3b yuan bonds as more mainland banks tap HK funds

    Posted Aug 25th 2008, 12:00am by Staff Reporter

    ... and virtual immunity from the United States subprime crisis. The bank generated 135.74 billion yuan of revenue in the first half, up 36.04 per cent year on year. Net interest income rose 24.51 per ... infrastructure, is the mainland's largest mortgage and real-estate lender. It provides 23.1 per cent of the nation's mortgages and 12 per cent of overall loans. Separately, CCB said it had ...




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