Posts Tagged ‘banks’ foreign investment’

Regulators seek banks’ foreign investment details

Financial regulators have asked China’s financial institutions to submit detailed records of their investments in the U. S. and European financial assets to ascertain the full extent of their exposure to the U.S. financial crisis.
There are at least six Chinese commercial banks which have reportedly disclosed their holdings of bonds issued by U.S. investment bank Lehman Brothers.
Industrial and Commercial Bank of China has announced it holds 151 million U.S. dollars in bonds issued by or linked to Lehman.
China Merchants Bank said to the Shanghai stock exchange it holds 70 million dollars worth of Lehman bonds.
Bank of China said it holds Lehman bonds worth 75.62 million dollars, and has lent out 53.2 million dollars to Lehman and its subsidiaries.
China Construction Bank, Bank of Communications, and Industrial Bank Co. have reportedly invested in Lehman-related assets.
Ping An has a 4.18 percent stake in Fortis, one of the largest European insurance conglomerates.