Worst not over yet, ANZ National's Hodges says

Worst not over yet, ANZ National's Hodges says
New Zealanders should expect more bad Credit Crunch news out of the Northern Hemisphere, particular from cash-strapped hedge funds, ANZ National CEO Graham Hodges has told the New Zealand Herald. "The news isn't all out," Hodges said in an interview. "We haven't heard much yet out of the hedge funds, many would have cash pressures," he was quoted as saying. Hodges told the Herald's Adam Bennett it was too early to tell whether his bank would use the government's wholesale funding guarantee. "The issue for us is it depends on how much a Crown guarantee is worth in the market which is yet to be tested." * This article was first published exclusively yesterday in our daily subscription newsletter for the banking and finance industries. The email costs NZ$365 per annum and carries exclusive news and analysis for New Zealand banking and finance industry executives, regulators and investors. Sign up for a free trial here.

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