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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?

To: James F. Hopkins who wrote (15919)	6/21/1998 11:03:00 AM
From: John Hunt	Read Replies (2) \| Respond to of 18056

<< Brazil? How were you guys tangled up down there. >> Hi James, Some of the Canadian banks got heavily involved in making uninsured loans in Mexico, Brazil and some other South American countries a few years ago. My particular bank, Toronto Dominion was involved in Brazil and had to take large loan provisions. Other banks took similar provisions. I think they just got in over their heads. I did a web search without finding anything significant. (Candian web sites rarely archive anything before about 1995-96) Almost as though the crisis didn't exist, although I did find one Canadian bank reporting that it still had about 300 million in reserves on the books in 1995 involving Mexico. I guess they don't want to talk about it. Maybe, russell (rrman) can add something. John PS - I should have remembered that they speak Portuguese in Brazil as I visited Argentina once and on the flight out we touched down in Brazil. Probably why I didn't get a better bank package <g>