Austrian Co. Derailed By Derivatives

29 Apr 2009

Austria’s state-owned railroad company OeBB Holding has reported a record EUR966 million (USD1.3 billion) loss after writing down the entire notional value of its synthetic collateralized debt obligations.

Austria’s state-owned railroad company OeBB Holding has reported a record EUR966 million (USD1.3 billion) loss after writing down the entire notional value of its synthetic collateralized debt obligations. The EUR613 million write-downs were on the instruments that it bought from Deutsche Bank in 2005 and 2006. OeBB has ...

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