BANKS ADMIT EXPOSURE: BANKERS TRUST, CHASE SAY AMOUNTS LENT TO HEDGE FUNDS ARE WELL COVERED

Crain's New York Business,  October, 1998  

Tags: bank, FINANCE, Games, Goldman, Investment

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Two New York banks admitted to heavy lending to hedge funds. Bankers Trust Corp. has $1 billion in exposure to hedge funds, but it claimed the amount was fully backed by cash and U.S. Treasury bonds. Chase Manhattan Corp. put its exposure at $3.2 billion, but said it, too, has collateral to cover most of the loans.

Merrill Lynch & Co. put its exposure at more than $2 billion. GOLDMAN'S DELAY Goldman Sachs & Co. delayed indefinitely its planned initial public offering because of turmoil in global stock markets. It said it would offer the same advice to any of its financial ...

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