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Latest Subprime Writedown News

  • Eyal Press | Is the Party Over for the GOP? 15 May 2008 20:32 GMT
    ... has also suggested the government should do little to assist families engulfed by the subprime mortgage crisis. He has tried to have it both ways on foreign policy as well, ...

  • Bernanke presses US banks on capital raising 15 May 2008 19:55 GMT
    ... to offset the billions of dollars in writedowns caused by the decline in value of the ... of the credit extension chain”, starting with subprime mortgages. He added: “The turmoil in the credit ...

  • Barclays announces £1 billion write down and lower profits 15 May 2008 19:55 GMT
    ... But Barclays did not ask shareholders for additional cash ... write-down caused by investments linked to US sub-prime mortgages at its investment banking arm Calyon. It ...

  • Senators hammering out mortgage deal 15 May 2008 19:37 GMT
    ... to homeowners if their lenders agree to write down loan balances below the appraised value of their ... at least one county seriously hurt by subprime problems. Of those, two are from Ohio and ...

  • Gold & Euros Bounce on Inflation Fears; Ex-Fed Volcker Warns of Return to 1970s Stagflation 15 May 2008 19:24 GMT
    ... added another $585 million to its first-quarter write downs – initially set at $4.1bn in March. ... that became the first casualties of the subprime mortgage collapse in June 2007 – "were not ...

  • Paradise lost 15 May 2008 19:19 GMT
    ... was not like Paul on the road to Damascus.” But signs of the gathering subprime storm in America started to trigger alarms in late 2006. Data from the bank's trading ...

  • Axa founder Bébéar announces retirement 15 May 2008 19:16 GMT
    ... which the investors’ share was €11bn. Of the €16bn, €1.6bn was backed by US subprime mortgages or those between prime and subprime. Exposure to collateralised loan obligations was €2.9bn, while ...

  • Barbarians at the vault 15 May 2008 18:35 GMT
    ... of assets”. The critics do not lack ammunition. The lapses in credit-underwriting in the subprime-mortgage market hardly reflect a wise allocation of capital. The opacity of the shadow banking ...

  • French banks hit again by subprime losses, tighten belts 15 May 2008 17:16 GMT
    ... French banks hit again by subprime losses, tighten belts PARIS (AFP) - French banks Credit Agricole and Natixis reported more heavy ...

  • Credit Agricole, Calyon ratings unaffected by write-downs, rights issue - S&P 15 May 2008 17:04 GMT
    ... of a 5.9 billion euro rights issue, 1.2 billion euro in write-downs of U.S. subprime-related assets, and a poor first-quarter performance at the corporate and investment (CIB) division. The ...

  • Barclays tight on capital as Agricole eyes sales 15 May 2008 16:17 GMT
    ... Thursday as the impact of the U.S. subprime housing crisis and its fallout on asset valuations ... the unit took a 1.2 billion euro writedown on risky assets in the first quarter. Barclays ...

  • Pots and kettles 15 May 2008 15:54 GMT
    ... the $335 billion or so of write-downs and credit losses thus far from the subprime crisis. Western banks have every reason to regret their losses. That may be why they ...

  • WRAPUP 1-Barclays tight on capital as Agricole eyes sales 15 May 2008 15:25 GMT
    ... Thursday as the impact of the U.S. subprime housing crisis and its fallout on asset valuations ... the unit took a 1.2 billion euro writedown on risky assets in the first quarter. ...

  • Bad Credit History Doesn't Mean The End Of Your Mortgage Hopes 15 May 2008 14:52 GMT
    ... Bad credit mortgages in the UK are for people ... bit recently. It goes back to the sub-prime crisis in the United States. Here, lenders were ...

  • mortgage quotes 15 May 2008 14:52 GMT
    ... Bad credit mortgages in the UK are for people ... bit recently. It goes back to the sub-prime crisis in the United States. Here, lenders were ...

  • Litzler sacked as Credit Agricole announces results 15 May 2008 14:50 GMT
    ... Litzler sacked as Credit Agricole announces results The head ... sustaining heavy losses from the collapsed US sub-prime sector. Marc Litzler is now to leave his ...

  • Agricole aims to raise $17B in selloffs, issues 15 May 2008 14:19 GMT
    ... the new head of its investment banking arm Calyon, replacing Marc Litzler. Agricole said subprime-related losses at Calyon amounted to $1.9 billion in the first quarter. It said it ...

  • Agricole to sell assets, restructure Calyon 15 May 2008 14:17 GMT
    ... axing chief executive Marc Litzler, as the sub-prime crisis spread to France's biggest retail bank. ... at Calyon, which had a first quarter writedown of 1.2 billion euros due to credit ... sector damaged by losses in the U.S. subprime mortgage market. Last month, Royal Bank of ...

  • Hypo Real Estate under investigation for alleged market manipulation 15 May 2008 13:57 GMT
    ... hinted last year it had avoided the subprime-related crisis, it announced in January 390 million ... announced in January 390 million euros in writedowns, wiping 35 percent off its share price. ...

  • British bank Barclays reports 1.0 billion-pound hit from credit squeeze 15 May 2008 13:56 GMT
    ... group added. The collapse in the US subprime or high-risk home loan market sparked an ongoing ... its balance sheet after more heavy credit-crunch writedowns. On Wednesday, shareholders at Britain's Royal Bank ...


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