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Total value of notional derivative contracts increased slightly from 31 March - 30 June 2000. That is among the Top 25 commercial banks (dominated by US-UK firms) from $179T to $181T, while swaps declined.


30 June annotated table courtesy of Jesse

31 March annotated by myself in re: WB-WFC merger; source document here

Note the shift by bank name and value in activity between quarters.

My unofficial theory of low-hanging, over-ripe fruit suggests that HSBC (rivaling HBOS-Lloyds semi-part-nationized merger) is about to make the government of Iceland and offer it can't refuse.

Diversity is the key to economic and political evolution.

by Cat on Fri Oct 24th, 2008 at 11:51:15 AM EST
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So we'll be seeing people who are citizens of HSBC turning up at airports? extradition to the arctic circle for people with problem overdrafts?

Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Fri Oct 24th, 2008 at 11:54:30 AM EST
[ Parent ]
Are there citizens of HSBC? In the US, HSBC and BOS were deeply invested in expanding sub-prime mortgage origination here. HSBC in secondary and BOS in primary markets.

My interest (above) was in UK citizens who are customers of Iceland's part-nationalized banks. They have rights to their frozen assets. But of course you know that Mr Darling will do his best to protect their property. If that assurance requires the Exchequer to purchase a controlling interest in any or all of those troubled banks, well, then, bully for Britain.

Diversity is the key to economic and political evolution.

by Cat on Fri Oct 24th, 2008 at 12:52:17 PM EST
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