Saturday, September 20, 2008

China Construction Bank has $191.4 mln of Lehman Bros. exposures

China Construction Bank Corporation said on Friday it held 191.4 million U.S. dollars in bonds issued by failed U.S. investment bank Lehman Brothers.

The lender had 141.4 million U.S. dollars in senior bonds and 50 million U.S. dollars in subordinated bonds. The amount accounted for 0.019 percent of its total assets and 0.29 percent of its net assets through June.

"CCB will continue to closely monitor developments of relevant events, prudently assess potential losses, make sufficient provision for impairment losses and protect the bank's legal rights," said the bank in a statement.

The Lehman Brothers bankruptcy would not cause a significant impact on CCB's financial situation, the bank said.


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