Standard Chartered to fund troubled SIV

Standard Chartered has taken a second vertical slice of its Whistlejacket structured investment vehicle (SIV) and will consolidate the whole $7 billion structure onto its balance sheet, the bank has announced.

Standard Chartered first acted to support Whistlejacket in November, when it exchanged $140 million of the SIV's capital notes for a $1.68 billion vertical slice of its assets – a move that cost it a $46 million bottom-line cost. It subsequently took a second vertical slice, worth $1.65

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