Foreign banks hit by lack of protection on Aussie loans

Loose legal documentation has saddled some of Asia’s smaller banks with heavy losses on syndicated loans made to borrowers in the Australian dollar market, bankers warned this week.

  • 23 Oct 2008
Many Asian banks, especially Taiwanese lenders, are facing increasing costs in foreign currency funding — and their Australian dollar loans are proving particularly costly as deals in that market have not historically been legally structured with market disruption clauses. This gives them no way of re-negotiating the margins ...

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