AFP chilenas acumulan pérdidas por US$7.700 millones en apuestas a tasas de EE.UU.

The administrators must unwind derivative contracts before November 4 and pay Wall Street banks, with Fund E the hardest hit.

Chronology

09:24
Chilean pension fund administrators accumulate US$7,700 million in losses on U.S. interest rate bets
The administrators must unwind derivative contracts before November 4 and pay Wall Street banks, with Fund E the hardest hit.

01:28
Pension fund managers go from US$1,400 million gain to US$7,700 million loss on U.S. bets
Swaps betting on lower U.S. interest rates hit Fund E, which is down 10.4% this year, while economists disagree on the scale.
19:09
Pension fund managers lose millions on derivatives tied to U.S. rates as Fund E falls 10.39%
Banks such as Société Générale and Bank of America ended up on the winning side of the swaps contracted by Chilean pension fund managers.

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