French banks agree to set up 1 bln superfund: report
ZURICH (Reuters) – Five French banks have agreed to set up a “super-conduit” fund holding $1.47 billion of asset-backed securities early in 2008 to ensure a liquid market for any French mutual funds destabilized by the global credit crisis, the Financial Times reported on Thursday.
LONDON (Reuters) – HBOS Plc , Britain’s biggest mortgage lender, said it would take a 180 million pound ($367.7 million) hit on the value of assets due to the credit crunch but 2007 underlying earnings are on track to meet analysts’ forecasts.
About Pete Southern
Pete Southern is an active trader, chartist and writer for market blogs. He is currently technical analysis contributor and admin at this here blog.
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