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At stake for them was the value of holdings in several companies within the Lazard galaxy.
The capital/income ratio in Europe fell heavily; high taxes ruined estates, inflation eroded holdings of government bonds and nationalisation destroyed the value of holdings in equities.
Legal experts said that determining the precise value of holdings in China could be difficult because there might be undisclosed side agreements about the true beneficiaries.
KKR Private Equity Investors, the publicly traded buyout fund of Kohlberg Kravis Roberts, wrote down stakes in seven investments as a slowing economy hurt earnings and declining bond prices eroded the value of holdings.
France's third-largest bank, Société Générale, posted a 63percentt decline in third-quarter profit from a year earlier, as investment banking revenue fell and the value of holdings declined.
The clients of the Charles Schwab Corporation, the biggest discount brokerage firm, sustained $56.2 billion in market losses in April, as declining stocks shaved the value of holdings by 7percentt.
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The rule, which went into effect Nov. 15, mandated that they mark down the values of holdings like mortgages and collateralized debt obligations, leading to huge write-downs and, in many cases losses.
But the regulators instructed the bank-holding company to consolidate the entire value of the holdings on its balance sheet.
An Oregon measure that would have required state and local governments to compensate property owners when regulations reduce the value of their holdings has been ruled unconstitutional.
A rise in rates means the value of their holdings will quickly drop much more than all the interest they have earned on those holdings.
The value of investors' holdings didn't change either.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com