Bank-Bank of peers Can Action Madoff

MADRID, MONDAY - banks around the world began to calculate the potential losses from fraud Bernard L. Madoff, a veteran broker and former Chairman Nasdaq Stock Exchanges. RADIO effects Madoff a 50 billion U.S. dollar fund customers this great candidate.
Until yesterday, some banks began to recognize the large investment in products Madoff. The largest bank in Spain and second in Europe, Banco Santander, states have the exposure of its investment products worth 2.33 billion euros (3.1 billion U.S. dollars) in Madoff. The Bank also invested 17 million euro investment funds own the product Madoff.
From Europe, the French bank, BNP Paribas, calculate the loss will be 350 million dollars for euros. But Paribas claim no direct investment. Royal Bank of Scotland (RBS) English it affected sap Madoff, without expanding the total loss.
In Asia, Japan's top broker, Nomura, intended to recognize the losses 27.5 billion euros (302 million U.S. dollars). Are from Asia, the South Korean financial institutions may also be losers 100 million U.S. dollars as a result of scandals Madoff.
The daily Financial Times reported, HSBC and Swiss Union Bancaire Privee, may also stumble Madoff. HSBC will be affected approximately 1 billion U.S. dollars because the banks that provide loans to institutional clients, particularly Hedge fund, which suppress the duitnya product Madoff. Unfortunately, the two banks is still tight-lipped.
What is clear, Madoff scandal forced authorities capital markets and banking in various countries Madoff browse the impression of fraud in their country. For example, the capital market supervisory body of Italy, Consob, began to investigate the impact of the scandal Madoff financial system of that country. Spanish central bank, the Bank of Spain, also made similar steps to find out the effect of the Spanish company.
So far, the Securities and Exchange Commission (sec) continue to check Madoff. SEC found, Madoff running Ponzi scheme through illegal fund management institutions and can haul other suspects.
Two employees disclose Madoff, Madoff investment consulting business run from offices on the 17th floor. He rarely appears in the 18 and 19 floors, offices and administrative units of trading companies.

by kompas.com