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Banks Bracing as Their Own Debts Come Due

Billions in shorter-term, floating rate notes likely to prolong credit woes

By Jim O'Neill, Newser User

Posted Aug 27, 2008 9:24 AM CDT

(Newser) – Billions of dollars worth of floating rate notes—vehicles used by banks to borrow money—taken out in 2006 are coming due in the next few months, and the industry is bracing for a wave of bank failures and asset sales as institutions struggle to... Read full story »

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Banks Bracing as Their Own Debts Come Due

Billions in shorter-term, floating rate notes likely to prolong credit woes

Goldman Sachs • Morgan Stanley • Merrill Lynch • debt • central bank • interest rate • credit crisis • floating rate notes

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More Newser Stories

8 Days That Shook the Financial World

James Stewart on the week that Lehman failed, and meltdown loomed

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Wall Street showing bonus season restraint

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Tough times prompt some soul searching, but titans confident they'll regain Wall St. primacy

Execs Were Paid $3B to Lay Credit Crisis Foundation

Wall Street chieftains were well rewarded for risks they took in 2003-07

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