Two China Banks Suffer Losses Linked to U.S. Subprime

03 Jul 2008

The subprime mortgage crisis in the U.S. has taken its toll on two banks in China, though both reported higher profits in the fourth quarter. Hardest hit was Bank of China, which held $5 billion in asset-backed securities as of Dec. 31, 2.13% of its holdings, only to ...

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