Subprime mortgages and credit liquidity crunch?
March 24th, 2009
Curioucity asked:
Each of the major investment banks appear to have burned serious money on subprime mortgages in the US. We in Australia are hearing of additional tranches of discount interest mortgages resetting to normal interest rates this year and next. Have the iBanks who bought these already written these exposures down (in the most recent reporting season) or will the write downs of these next few tranches only be revealed over the next year plus?
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Each of the major investment banks appear to have burned serious money on subprime mortgages in the US. We in Australia are hearing of additional tranches of discount interest mortgages resetting to normal interest rates this year and next. Have the iBanks who bought these already written these exposures down (in the most recent reporting season) or will the write downs of these next few tranches only be revealed over the next year plus?
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