Shorting the Big Banks (e.g. JPM, BT, CMB, CCI) Message Board

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Non-Tech : Shorting the Big Banks (e.g. JPM, BT, CMB, CCI)

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To: HiSpeed who wrote (35)	9/5/1998 12:15:00 AM
From: BDR	of 268

<<Anyone notice that gold is starting to tick up again? >> And oil. U.S. Bank Stocks Can't Shake Emerging Market Blues dailynews.yahoo.com The six money-center banks - Chase, Citicorp, BankAmerica Corp. (BAC.N), J.P. Morgan, Bankers Trust and First Chicago NBD Corp. (FCN.N) - had total cross-border exposure to all of Latin America of $61.9 billion, with local country liability of $37.0 billion at the end of March, Brown Brothers Harriman analyst Raphael Soifer said, based on data banks give regulators. This far surpasses money the banks are owed in Russia or Asia and comes alongside wild gyrations in financial markets that have wiped out equities-related gains at banks, such as Chase, and caused trading losses in the third quarter..... Citicorp said its exposure to Latin America, as of the second quarter, totaled $15.5 billion, while its exposure to Russia was by now well under $400 million. Chase has said its exposure to Brazil was about $3.5 billion. By contrast, Chase has direct exposure in Russia of about $250 million, and indirect exposure -- or exposure to non-Russian institutional investors and money managers -- of $210 million.

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