RANSquawk is reporting that HSBC had $17 billion in loan exposure to UAE at the end of 2008 and foreign banks in general are up to their ears in some $47 billion of UAE debt.
Bloomberg is citing a JP Morgan report that Royal Bank of Scotland Group was Dubai World's biggest loan arranger over the last two years.
Rumor going around that Barclay's has some significant exposure to the Dubai situation.
The Emirates Banks Association lists the following institutions as being the largest foreign banks invested in the UAE:
HSBC $17bn
Standard Chartered $7.8bn
Barclays $3.6bn
RBS $2.2bn
Citi $1.9bn
BNP Paribas $1.7bn
Lloyds $1.6bn
BOE has enough dough (read: raise taxes) to bail the top 4 out????
Data: Various News Sources
Bloomberg is citing a JP Morgan report that Royal Bank of Scotland Group was Dubai World's biggest loan arranger over the last two years.
Rumor going around that Barclay's has some significant exposure to the Dubai situation.
The Emirates Banks Association lists the following institutions as being the largest foreign banks invested in the UAE:
HSBC $17bn
Standard Chartered $7.8bn
Barclays $3.6bn
RBS $2.2bn
Citi $1.9bn
BNP Paribas $1.7bn
Lloyds $1.6bn
BOE has enough dough (read: raise taxes) to bail the top 4 out????
Data: Various News Sources