TITLE

Loss on subprime assets reduces profit by 46%

PUB. DATE
August 2008
SOURCE
Accountancy;Aug2008, Vol. 142 Issue 1380, p94
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that Credit Agricole has incurred a net loss of 4.1 billion euros in connection with U.S.-related subprime assets. The losses divide almost evenly between those involving asset-backed instruments and collateralized debt obligations, and losses stemming from monoline insurance. The losses reduced net income by 46%.
ACCESSION #
34035214

 

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