Monday, July 02, 2007

Banca Intalease Derivate Debacle Update

Mark-to-market seems to be a spreading problem these days.........What started out a month ago with an estimated loss of 400 mio € is now already close 730 mio € ..........

Die "Mark-to-market" Problematik scheint sich schneller auszubreiten als vielen lieb ist.....Was vor einem Monat mit schon damals atemberaubenden 400 mio € anfing hat sich binnen 30 Tagen mal eben auf 730 Mio € "verbessert".....

Here is the history of posts / Hier die vorherigen Posts zu Banca Intalease

Italease Slumps as Clients May Lose EU400 Million

Banca Italease Derivate Slump Continues

Banca Italease Derivatives Fallout / Shares Suspended

Banca Italease Plunges Another 25%

29/06: Specifications regarding derivatives contracts

For a better comprehension of today’s press release, Banca Italease specifies that the closing out of more than four-fifth of the mark-to-market positions that were in effect with regard to derivatives executed with bank counterparties, led to a disbursement of around EUR 610 Million.

As of today the remaining contracts, still open with bank counterparties with a negative mark to market for Banca Italease, represent a total amount of around EUR 120 Million.

> Shares down over 10% with huge volume to a new low at 17.89.

> Aktien heute unter extrem hohen Volumen weiter im freien Fall minus 10% auf 17,89

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