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Global Banking Woes

#1 (permalink)

08-04-2008, 11:32 AM

Veronica Corningstone Veronica Corningstone is offline

Corner Window Office

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Global Banking Woes

HSBC Holdings plc reported (U.S.) $2.9 billion in losses from it North American operations during the first half of 2008. Deutsche Bank announced income that reflected $3.6 billion in mark-downs on predominantly Alt-A RMBS, monoline insurers, commercial real estate, leveraged finance loans and loan commitments, and other positions. SunTrust Banks Inc. announced Friday that it acquired approximately $225 million in deposits of First Priority Bank, which was shut down by the commissioner of the Florida Office of Financial Regulation.

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