The Credit Crisis Timeline - University of Nevada, Reno
Six of South Korea’s leading banks signed a preliminary deal to set up a private bad bank, in an attempt to spark greater competition in a market for toxic assets that is monopolised by a state-run bad bank. The banks, led by Shinhan and Kookmin, expect the bad bank to be set up by the end of next month, run until 2014 and clear up some Won5,000bn (US$4bn) of troubled loans. The other banks ... ................
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