Japan’s MUFG stated that its subprime losses will rise six-fold to around $263 million.  Other Japanese banks have also reported exposure to problems in the US subprime loan market.  “We are expecting to see that the amount of the losses had risen to a level of between 20 billion and 30 billion yen by the […]

Japan’s largest securities firm reported its first loss in 18 quarters, or 4.5 years, thanks, in part to the problems in the US subprime mortgage market.  Their net loss was $92 million compared to income of nearly $400 million a year ago.  Nomura is already down some 18 percent this year underperforming the Topix significantly.  […]

The Bank of England recently stated that developed countries are still vulnerable to new “shocks” related to the subprime market problems plaguing the US housing market.  At this point, commercial real estate lending could become vulnerable as demand is decreasing and a glut of new buildings are scheduled to open.  Continued declines in home values, […]