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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Lucretius who wrote (7822)8/1/2000 6:44:05 PM
From: patron_anejo_por_favor  Read Replies (2) of 436258
 
markets.ft.com

<<Central bankers traditionally argue that finance is importantly different from other
business because of its systemic implications. At GE, this boils down to the
statistic that $129bn of GE Capital's $200bn borrowings are short term, consisting
partly of commercial paper unsupported by bank lines. This could make the group
vulnerable to funding shocks. Since it is the biggest non-bank financial group in
the US, that could in turn pose a systemic threat.

At the end of last year, its balance sheet contained $330bn of tangible assets. Of
this total, $168bn consisted of loans and receivables, including investments in
financing leases in such industries as aircraft, rail and automobiles. A further
$80bn consisted of investment in corporate, government and mortgage-backed
debt, and equity holdings. It would take only a 3 per cent fall in the value of tangible
assets, or a 5.9 per cent fall in the value of receivables, to wipe out its tangible
capital base of $9.9bn.>>

Got GE shorts?<g>
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