August 28, 2007 (LPAC)--More top banks are being revealed as having heavy exposure in the asset backed commercial paper (ABCP) bubble on both sides of the Atlantic and deep into Asia and the Pacific. The international press reports the following victims:

* The Boston based State Street bank has been identified as having no less than $22 billion of exposure in ABCP, held in six "conduits" which account for no less than 17% of its assets. This is the highest exposure of any European or American bank revealed so far. This compares with the 15% exposure of the German IKB bank and the 6% of the German WestLB bank according to timesonline.

* Standard and Chartered stock price came under pressure last week and into this week amid rumors that Whistlejacket Capital, its $18 billion conduit was in trouble. This followed a decline last week of HBOS stock price by 4% following its bailout of Grampian Funding, its $35 billion conduit.

* The stock price of Singapore's largest Bank, DBS Group Holdings, fell by 2% after it admitted it will have to fund a $921 million worth of ABCP. JPMorgan told its clients to avoid DBS stock, reported that it held a Singapore $10 billion bond portfolio classified as "held for trading" according to Reuters.

* Barclay's role in organizing the "SIV-Lites", (Structured Investment Vehicles) for Sachsen LB, which collapsed last week, has brought the British bank under deep scrutiny according to today's Financial Times. This, according to the FT, has left Barclay's with an exposure in the "low hundreds of millions of dollars." They also report that Edward Cahill, the Barclay's executive responsible for setting of the Barclay's own as well as Sachsen's SIV-Lites, has not been seen since his resignation last week.

* Raptor Global Fund of Tudor Investment, an $8.5 billion hedge fund, lost 8% of its value this year, mostly in August.