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September 17, 2008
3 Chinese Banks Hold US$297.4M in Lehman Debt
Following up to yesterday's post, the International Herald Tribune reports:
Three Chinese banks hold a total of US$297.4 million in Lehman Brothers bonds, two of the banks and a state news agency said Wednesday, but analysts said China's total exposure to the failed U.S. investment house should be limited.
Industrial & Commercial Bank of China Ltd., the country's biggest state-owned commercial lender, holds US$151.8 million in Lehman bonds, the Xinhua News Agency said.
Bank of China Ltd., the country's No. 3 commercial lender, said on its Web site it owns Lehman bonds valued at US$75.6 million. It said that includes holdings by its Hong Kong and foreign branches.
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