Banks warned of two-year subprime hangover

The effects of the credit crisis could last up to two years, according to analysts at rating agency Standard & Poor's.

Speaking in a November conference call, financial institutions analyst Tanya Azarchs said: "It is not a very rosy picture for the next 18 months or two years. We may get more surprises in the fourth quarter."

Azarchs named over-leverage and subprime exposure as the two main problems facing major financial institutions. Of these, subprime was by far the more serious, she said.


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Stemming the tide of rising FX settlement risk

As the trading of emerging markets currencies gathers pace and broader uncertainty sweeps across financial markets, CLS is exploring alternative services designed to mitigate settlement risk for the FX market

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