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Decade since French bank fund freeze

Event showed risks of sub-prime and seen as a precursor to 2007/8 crisis

It is now 10 years since the event which for many marked the onset of the financial crisis.

On 9 August French bank BNP Paribas moved to freeze redemptions from three funds with interests in collateralised debt obligations (CDOs) which it realised it could not value. CDOs were the vehicles which were used to package up and sell on sub-prime loans as premium-rated debt.

Fears have been raised in 2017 that sub-prime car finance deals could be the catalyst for another crisis.

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17 Aug 2017

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