Workers stand on scaffolding on a new residential building at Battersea in London, Britain, March 7, 2016. REUTERS/Toby Melville
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
The run on British property funds has drawn attention to the vulnerability of the commercial real estate sector, largely funded by domestic banks and building societies but increasingly by foreign banks and insurers. U.K. banks and building societies had around 90 billion pounds ($117 billion) in credit extended to domestic commercial real estate at the end of 2015, according to a study by De Montfort University.German, international and U.S. banks had 55 billion pounds of exposure, having increased their investments in the sector since the 2008 financial crisis. That would hit the banks that lent or insurers invested in property.
FOLLOW THIS ARTICLE