subprime mortgage

Subprime Holdings Damp China Bank Profits

Chinese banks reported increased profits in 2007, but they’ve suffered in recent months as a result of the U.S.’s subprime-mortgage crisis. From Reuters Via Financial Times : Industrial & Commercial Bank of...

China Shares Blame for Crisis, Carney Says

The new Bank of Canada governor, Mark Carney, has blamed China for the subprime mortgage crisis that has rocked the U.S. economy and is being felt around the world. From The Globe and Mail: By insisting on fixed exchange rates,...

U.S. Subprime to Hurt China Banks in 2008 – Reuters

From Reuters: Earnings at Chinese banks will probably be hit this year by the snowballing U.S. subprime mortgage crisis and Beijing’s moves to cool the economy, the president of the country’s sixth-biggest bank said on Monday. “We have to be very realistic: we are facing many challenges this year which are not only from home […]

China Turns Risk Averse Even As Outflows Rise – Henny Sender

From The Financial Times: When Lou Jiwei, the head of the China Investment Corporation , appears on a panel at Davos next week, he will attract a flurry of interest from financiers. CIC is less than a year old, but the actions of this vast investment fund – and numerous others in China – are […]

China’s Largest Bank Not Worried By Subprime Crisis – AFP

From AFP via Business Report: Industrial and Commercial Bank of China , the nation’s top lender, said it was not worried by US subprime troubles, as mortgage-backed securities were a tiny percentage of its assets. Subprime-related mortgage-backed securities amount to $1.23 billion, or 4.32 percent of the bank’s total foreign currency fixed income investments, Bank […]

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