Two more Chinese banks have reported holding Lehman Brothers bonds, raising total Lehman debt disclosed by Chinese lenders to USD 634.8 million.
China Construction Bank Corp, the country's second-largest commercial lender by assets, said in a statement issued through the Hong Kong Stock Exchange that it holds USD 191.4 million in Lehman bonds. That was the biggest exposure reported so far for a Chinese bank to the failed Wall Street house.
A midsize lender, China CITIC Bank Corp said in a separate statement it has USD 76 million in Lehman bonds.
Analysts say the impact of Lehman's failure on Chinese banks should be limited.
Other state-owned banks have reported holding Lehman debt but say it accounts for only a tiny fraction of their assets.
China's biggest lender, Industrial & Commercial Bank of China Ltd., says it owns Lehman bonds worth USD 151.8 million.
Construction Bank's Lehman holdings are 0.29 percent of net assets and should have no effect on its financial position, the bank said. It said the bank would make allowances for possible losses.
Bank of China Ltd., the country's No. 3 lender by assets, says it owns Lehman bonds worth USD 75.6 million. Bank of Communications Ltd, the country's fifth-largest commercial lender, says it has USD 70 million in Lehman bonds.
Another midsize lender, China Merchants Bank Ltd., says its Lehman bonds are valued at USD 70 million.
Last week, China's Hua An Fund Management Co, warned of possible heavy losses due to Lehman's failure. Hua An said its International Balanced Fund is invested in notes provided by Lehman that are linked to stocks, bonds and other assets.
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