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Non-Tech : Tulipomania Blowoff Contest: Why and When will it end? -- Ignore unavailable to you. Want to Upgrade?

To: Phil(bullrider) who wrote (723)	1/15/1999 8:10:00 AM
From: Hiram Walker	Respond to of 3543

bullrider et all, yes good point,he might need counseling. Here is where the next fault line is developing,its the Axis faultline in Europe. Germany is ground zero, the fault will start peripherally in someplace like Turkey. ms.com Global: International Bank Exposures to Brazil John D. Montgomery (New York) Recent events in Brazil make it worth taking a closer look at international bank exposures to Brazil. These are larger than the exposures of international banks to any other single emerging market. In terms of creditor countries, banks in Euroland account for nearly half of identified exposures and U.S. banks just under a fifth. Although exposures are small relative to creditor-country GDP and make up only a thin slice of aggregate bank capital, it is possible that important individual banks have large exposures. The most up-to-date numbers on international bank exposures come from the Bank for International Settlements. The total international exposure of 14 industrial countries amounts to $84.6 billion as of June 1998. (This excludes the value of domestic Brazilian subsidiaries and branches owned by international banks.) As of that date, this was the largest single emerging market exposure of the international banking system. Since the next two largest exposures were to Russia ($75.9 billion) and South Korea ($72.4 billion), where exposures have presumably been pulled back, Brazil has almost certainly retained its top ranking in this category. An analysis of the creditor country breakdown shows that the United States is the single largest creditor, with $16.8 billion of claims, followed by Germany ($12.8 billion) and France ($9.4 billion). The aggregate exposure of all Euroland banks, however, is $37.6 billion, about 45 percent of total reported exposure and far in excess of U.S. exposure. In addition to Germany and France, other Euroland countries with significant exposures are the Netherlands, Spain, and Italy. Outside of Euroland and the United States, banks in the United Kingdom have $5.8 billion in exposure, banks in Japan $5.2 billion, and banks in Canada $1.9 billion. Hiram