U.K. home reposessions mirror U.S. problems

In the U.K. a foreclosure is called a reposession. Market analysis shows U.K. mortgage issues mirroring trends in the United States, as home owners find it difficult to refinance. The Council of Mortgage Lenders said the global credit crunch was exacerbating trends that were already emerging in the housing market. It said it had already …

Subprime write-offs listed by bank

Here is a quick list of major banks in the United States and the amount of subprime bad debt write-offs associated with each, shown from most to least: HSBC – $10.6 billion (as of February 2007) Merrill Lynch – $7.9 billion Citigroup – $3.2 billion JPMorgan – $1.7 billion Goldman Sachs – $1.5 billion Bank …

Risk Officers face challenge while some disappear

Subprime mortgage anxiety continued to spread on Thursday as a leading derivatives index hit a new low and fears grew that Merrill Lynch and other banks could be forced into even bigger asset writedowns. Those fears drove Merrill Lynch shares down 4 per cent to $60.90 as analysts suggested the bank might need to take …