Singapore SWF could invest $5 billion in US bank

Temasek, the Singapore finance ministry's sovereign wealth fund, could be the latest fund to cash in on Wall Street's subprime losses by injecting as much as $5 billion into Merrill Lynch in exchange for what could amount to a 10% stake in the American bank.

The Wall Street Journal newspaper reported on Friday that the board of Temasek, which invested $4 billion in Standard Chartered last year, had preliminarily approved the deal.

Merrill Lynch wrote down $8.4 billion-worth of mortgage-relate

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: