Friday, April 1, 2011

Foreign Banks Tapped Fed’s Secret Lifeline Most at Crisis Peak

This news is not news to those with a pulse (or those who read this blog ;-)). 

http://www.bloomberg.com/news/2011-04-01/foreign-banks-tapped-fed-s-lifeline-most-as-bernanke-kept-borrowers-secret.html
Arab Banking Corp., then 29 percent-owned by the Libyan central bank, used its New York branch to get at least 73 loans from the Fed in the 18 months after Lehman Brothers Holdings Inc. collapsed. The largest single loan amount outstanding was $1.2 billion in July 2009, according to the Fed documents.

No comments:

Post a Comment