CDO-Backed Insurance Policies Hurting Banks

  • 08 May 2008
Life-insurance policies backed by collateralized debt obligations may find banks holding them seeing a lot more red than they expected. As a result of Wachovia’s life-insurance holdings, the bank was forced to write down $315 million in the first quarter more than expected. And it may not be ...

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1 BNP Paribas 10,542 20 18.00
2 Bank of America Merrill Lynch (BAML) 6,103 21 10.42
3 Citi 5,130 13 8.76
4 JP Morgan 4,681 6 7.99
5 Lloyds Bank 3,389 13 5.79

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3 Wells Fargo Securities 50,159.53 146 7.94%
4 JPMorgan 49,089.37 141 7.77%
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