カテゴリ：Banking( 3 )
The concern: Some banks don't want to report the high rates they're paying for short-term loans because they don't want to tip off the market that they're desperate for cash.
In recent weeks, Lehman moved $2.8 billion in loans, including some risky leveraged-buyout debt that has been difficult to sell, into a newly created investment vehicle it named "Freedom," which in turn issued debt securities backed by the loans.
Yesterday, the speculation reached a crescendo with shares in HBOS falling 19 per cent in early trading on rumours it was struggling to fund its day-to-day business. A slew of e-mails crossed the City revealing that an emergency meeting at the Bank of England had been called to help. More than £1.5bn was wiped off HBOS’s market value in the first hour of trading before the bank had time to respond.