Banks to set up $80 bln fund to limit credit crunch

Story date: 2007-10-14 10:31:00
Added on: 2007-10-14 11:00:20

Reuters - ... Reuters) - Major banks including Citigroup Inc are looking at setting up a roughly $80 billion fund to buy ailing mortgage ... concerned that a certain type of investment fund linked to banks may have to dump billions of dollars of repackaged loans ...


Read more...

Related Stories:

• Big banks mull fighting fund for bad debts (The Scotsman: Business)

  MAJOR banks including Citigroup are looking at setting up a roughly $80 billion (£40bn) fund to buy ailing mortgage securities and other...
  2007-10-14 04:20:38

• UPDATE 2-Seven Citigroup vehicles say portfolios strong

  Reuters - ... controlling roughly $100 billion of assets said on Thursday the credit quality of their ... buyout loans that...
  2007-09-06 12:42:00

• Banks said to be prepping up to $100B fund (CNN Money)

  A consortium of the world's biggest banks, led by Citigroup, is working to create a fund to back up to $100 billion...
  2007-10-14 09:37:17

• Citigroup, Bank of America Agree to Set Up $80 Billion CP Fund

  Bloomberg - The fund will buy assets from structured investment vehicles, units set up to finance purchases of securities such as corporate...
  2007-10-14 09:22:00

• Banks said to be prepping up to $100B fund

  CNN Money - ... Citigroup, is working to create a fund to back up to $100 billion in shaky mortgage ......
  2007-10-14 09:26:00

• Citigroup, Bank of America Lead Banks Creating Fund (Update2)

  Bloomberg - Countrywide Financial Corp., the biggest U.S. mortgage lender, had to tap an entire $11.5 billion bank line on Aug. 16...
  2007-10-14 04:14:00

• Banks plan joint fund to buy risky debt

  Miami Herald - Citigroup Inc. and other big banks are working on a plan to support the market for mortgage-backed securities and...
  2007-10-14 05:19:00

• Pimco's Gross: Long-term value in big banks' debt (EARTHtimes.org)

  NEW YORK (Reuters) - Bill Gross, manager of top bond fund Pimco, on Thursday said he still holds corporate debt of some...
  2008-06-19 11:43:36