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  • September 20, 2014
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  1. Banks whetting the axe as subprime pain bites

    Posted Jan 22nd 2008, 12:00am by Enoch Yiu

    ... Enoch Yiu Local banks have started to feel the pain from the subprime crisis and sources say some lenders are preparing to cut their headcounts to reduce costs. As financial institutions such as Citigroup, Merrill Lynch and Bank of China take multibillion-dollar write-downs on subprime mortgage losses, cost-cutting is inevitable. Industry insiders say the major targets are back-office staff. ...

  2. CCB discloses US$1.06b in subprime investments

    Posted Aug 27th 2007, 12:00am by Staff Reporter

    ... of investments related to United States subprime mortgages as it announced higher than expected first-half profit. The bank said it had set aside 139 million yuan as provision against securities rated AA ... prompting the lender to make 1.14 billion yuan of provisions while Industrial and Commercial Bank of China had US$1.22 billion in subprime investments. 'These securities are expected to have ...

  3. CSRC tightens rules

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

    ... on their holdings in US subprime-related securities. Many listed lenders have also invested in bonds issued or guaranteed by the two troubled US mortgage finance giants, Fannie Mae and Freddie Mac, raising ...

  4. Bank of China earnings rise after provisions for subprime losses

    Posted Jan 23rd 2008, 12:00am by Staff Reporter

    ... in US subprime mortgage securities in the fourth quarter, mainland banking sources said earlier. 'The lender will probably make an announcement on increased provisions in the fourth quarter ... Natalie Chiu Bank of China, the nation's third-largest lender, says profit grew last year even after it set aside provisions for investments related to the troubled US subprime ...

  5. Property - International - SWEDEN

    Sweden's opposition party pushes for lower mortgage rates

    Posted Sep 10th 2014, 04:43am by Bloomberg

    ... Bloomberg in Stockholm Social Democrats take lead in national election with plans to make housing more affordable Opposition party pushes for lower mortgage rates Sweden's Social ... finance minister if the Social Democrat-led opposition prevails in this month's election, has proposed using state-owned bank SBAB to bring down mortgage rates, already at four-year lows, ...

  6. Corrections & clarifications

    Posted Aug 29th 2007, 12:00am by Staff Reporter

    ... The report 'CCB discloses US$1.06b in subprime investments' published on August 27 should have said: 'The bank said it had set aside 139 million yuan as provision against securities, rated AA or above, less than market forecasts of 576 million yuan.' ...

  7. The Big Short

    Posted Feb 06th 2011, 12:00am by Charmaine Chan

    ... Eisman, who saw the subprime mortgage market as a Ponzi scheme, and Michael Burry, who realised that the road to riches lay in credit-default swaps on subprime mortgage bonds, even though ... triple-As to bonds worth less, and investment bankers who realised defaults on subprime mortgages were rising but did their best to hide the fact. Some books are more interesting than others. ...

  8. Business - Banking & Finance - LAWSUITS

    Morgan Stanley to pay US$95m in mortgage debt settlement

    Posted Sep 09th 2014, 09:41am by Reuters

    ... Reuters in New York Morgan Stanley has agreed to pay US$95 million to resolve a lawsuit accusing the Wall Street bank of misleading investors in mortgage-backed securities in the run-up ... The plaintiffs accused Morgan Stanley of violating United States securities law in packaging and selling mortgage-backed securities in 13 offerings in 2006 and 16 offerings in 2007. In the years since ...

  9. US slowdown, closures pose lending challenge

    Posted May 16th 2008, 12:00am by Staff Reporter

    ... Cheuk-kuen, the wholesale banking head of origination and client coverage, said interest margins for financing had increased by 30 to 100 basis points since the subprime crisis began. 'It's ... soon. 'The US may go into a recession, which will affect Hong Kong's exports-related business, and we still don't know whether global lenders' write-downs on their subprime ...

  10. Subprime crisis to hit Hong Kong banks

    Posted Aug 04th 2008, 12:00am by Amanda Lee

    ... Amanda Lee Local lenders expected to announce lower profits, analysts say Hong Kong banks are expected to show lower earnings because of the ongoing subprime mortgage crisis engulfing ... profits of Hong Kong banks to meet expectations. 'The profits of many Hong Kong banks will continue to be affected by the subprime mortgage problems even though they have only some ...




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