Foreign banks suffer on Australian dollar loans

Looser legal documentation has saddled foreign banks with heavy losses on syndicated loans in the Australian dollar market, bankers warned this week.

  • 21 Oct 2008
Many Asian banks, especially Taiwanese lenders, are facing increasing costs in funding their Australian dollar loans as the credit crunch has squeezed liquidity in the US dollar market. Taiwanese banks typically fund Australian loans through US dollar swaps, and have been unable to adjust lending rates as Australian ...

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