Meet Jen from the Problem Solvers TeamHi, I'm Jen and I'm here to help. Submit your complaint here or get help here
AIG is everyone’s favorite these days. From lavish parties to huge bonuses AIG is discussed everywhere these days. Here we examine the relationship between HSBC and AIG:
The following lists the collateral postings for counterparties who bought credit default swaps from AIG financial Products between Sept. 16, 2008 — the date of the initial government rescue — and Dec. 31, 2008:
Counterparty Amount Posted ($ BLN)
——————————————-
Societe Generale (SOGN.PA) $4.1
Deutsche Bank (DBKGn.DE) 2.6
Goldman Sachs Group (GS.N) 2.5
Merrill Lynch & Co Inc (BAC.N) 1.8
Calyon [CRINDZ.UL] 1.1
Barclays PLC (BARC.L) 0.9
UBS AG (UBSN.VX) (UBS.N) 0.8
DZ Bank [DETGNF.UL] 0.7
Wachovia Bank (WFC.N) 0.7
Rabobank [RABOM.UL] 0.5
KFW [KFW.UL] 0.5
JPMorgan Chase (JPM.N) 0.4
Banco Santander SA (SAN.MC) 0.3
Danske Bank (DANSKE.CO) 0.2
Reconstruction Finance Corp 0.2
HSBC Holdings PLC (HSBA.L) 0.2
Morgan Stanley (MS.N) 0.2
Bank of America Corp (BAC.N) 0.2
Bank of Montreal (BMO.TO) 0.2
Royal Bank of Scotland (RBS.L) 0.2
——————————————-
Top 20 CDS Total $18.3
Other 4.1
Total Collateral Postings $22.4
Source: AIG
This article, HSBC bought credit default swaps from AIG, is just one of our articles from The HSBC Monitor, Part 2 – News and Complaints Behind the Scenes
The HSBC Monitor monitors banking problems and customer complaints and has done so since 1999. Writers hold no stock positions. Some material is used under the fair use copyright act.
We use Thomson Reuters News Service Calais in all production material but are not associated with Thomson Reuters, banks, or financial institutions in any way.
