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9 août 2007
 
 

August, 9 2007

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Beginning of the subprime crisis

French bank BNP Paribas freezes withdrawals from its clients in three of its investment funds. The bank recognizes that it can no longer value the assets held in these funds because they are no longer tradable in the markets. These three funds are heavily invested in subprime mortgages, derivatives of US subprime mortgages.