Lehman derivatives trading 'light'
Banks held four-hour risk-reduction trading sessions in derivatives, covering foreign exchange, credit, equity, rates and over-the-counter commodity derivatives. The session was held so that participants could bi-laterally reduce their derivatives counterparty exposures to Lehman. "Trading was light," said the official.
As of May 31, Lehman reported a total counterparty exposure of $37.4 billion in derivatives. The bank's 2007 annual report showed that, as of November 30 2007, it had $4.6 billion
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