Friday, July 25, 2008
The sub-prime mess still has an impact
Today, the National Australia Bank announced an increase in its provisioning by $830 million for exposure to CDO (collateralised debt obligations) which house some of its exposure to the US sub-prime market. NAB's share price dropped by over 10% on the announcement. The disclosure related question, of course, is when did they know about this?
Labels:
accounting analysis,
continuous disclosure,
NAB,
sub-prime
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