Consumers have begun to fall behind on non-housing related debt payments, BCA Research warns
High risk products combined with poor underwriting combined have had a substantial impact on defaults
U.S. could face US$2 trillion lending shock
Bank of Nova Scotia today announced that in its fourth quarter 2007 results there will be mark-to-market write-downs on non-Bank asset-backed commercial paper (ABCP) and structured credit instruments of approximately $190 million ($135 million after-tax).Scotiabank also announced that as a result of the bank’s domestic and international interests in Visa Inc., it will record a […]
Net impact on fourth quarter earnings expected to be modest
The International Organization of Securities Commissions has launched a task force on the subprime crisis to review the issues facing securities regulators following the recent events in the global credit markets. The task force will conduct a preliminary review of the issues raised by these events in order to identify any implications for securities regulators […]
Swiss banking giant UBS AG today announced a likely third-quarter loss, and a management shakeup, as it was hit by sub-prime woes. UBS said that following a write down of positions in fixed income, rates and currencies, it is likely to record a pre-tax loss of between 600 million and 800 million Swiss francs. It […]
Market likely to go through lengthy adjustment period
Canada to sidestep U.S. subprime woes
Sub-prime bad news is likely far from over