Forex News Traders

[Ataglance2]

03:57 NEWS: More News On Subprime, Lehman Write-Off, New Fed Facility Tokyo, February 19. in the Wall Street Journal and Financial Times. The Wall Street Journal reports that Lehman Brothers, who has managed to avert the worst of the subprime fiasco until now, may have to write-off some $1.3 bln in commercial real estate loans. Lehman already wrote off some $830 mln in bad loans in Q4. Though not on the scale of Citibank or Merrill Lynch, the news is not bad. Separately, the FT reports that US banks have borrowed $50 bln recently via the Fed"s new term auction facility. It seems this facility will continue to be tapped by US banks following its introduction two months ago.