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.
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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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