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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: maceng2 who wrote (79736)	12/2/2001 10:39:20 AM
From: maceng2	Read Replies (1) \| Respond to of 116764

Whats up with these guys, don't they realize they just have to ask the IMF to print up some more? British banks hit by Enron collapse British banks are facing millions of pounds in losses as a result of the crisis that has crippled US energy giant Enron. It is thought Enron's UK subsidiaries owe millions of pounds to banks including Barclays, Royal Bank of Scotland and Abbey National. National Australia Bank, which owns Yorkshire Bank and Clydesdale Bank in the UK, also revealed it had secured and unsecured exposure to Enron totalling around 200 million dollars (£141 million). Both Barclays and RBS refused to comment on reports they were owed cash by the troubled energy giant, but estimates put their potential exposure at around £140 million for RBS and between £50 million and £300 million for Barclays. City watchdog the Financial Services Authority said it was assessing what UK banks' likely exposure to the group was, though it said it was "far too early" to give an estimate. A spokesman said: "It's fair to expect that with a company of this size a lot of people will have a bit of exposure." On Friday, accountants PricewaterhouseCoopers, appointed as administrators to Enron's European holding company, announced that 1,100 staff had been made redundant across the UK. It is thought Enron could file for bankruptcy in the US on Monday. ananova.com