Richard Meddings, Standard Chartered's finance director, said of the potential losses in Dubai: "The situation is fluid and in its early stages, but given the profile of our exposures, we don't expect any impairment to be material".
"We have resolved many Countrywide mortgage-related matters, established large reserves to address these issues and identified a range of possible losses beyond those reserves, which we believe adequately addresses our exposures," said Lawrence Grayson, a spokesman for Bank of America.
"We increased our excess liquidity pool to a record level of $92 billion and significantly reduced our exposures in key asset classes.
We note as well that our exposures are population-based, and that census tracts, which are defined to have stable underlying population estimates of between 3,000 and 4,000 may be more appropriate in this setting.
So we, instead, step back and say, "Let's be careful, and think about where our exposures are building up in this portfolio, and make sure we haven't pushed the limit too far, where we're totally dependent on–.
It's not really just about meat or eggs in the diet, but about the overall dietary pattern, the kinds of meat, the feed and treatment of the egg-laying hens, and our exposures to chemicals and antibiotics.
