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Assets of Libya held by some of the leading global financial institutions

Assets of Libya held by some of the leading global financial institutions

Some of the well-known and major financial institutions in the globe held billions of dollars of Libyan state finances,based on a leak report. Principal amongst them were Royal Bank of Scotland, HSBC,JP Morgan Chase, Goldman Sachs, and Nomura. The banks rejected to say whether they seized, or are still holding, the finances.

All the resources have now been frozen by the United Nations and European Union. The file,dated June 2010, revealed that HSBC held $292.7 million in ten cash accounts, with a same amount empowered in a hedge fund, whereas Goldman Sachs had $43 million in 3 accounts.

Approximately $4 billion was held in structured products and investment funds, with Societe General alone holding $1 billion. Bank of New York and Japanese bank Nomura also held $500 million each. A much bigger amount of Libyan Investment Authority's assets - $19 billion in total - had been held by Middle Eastern and Libyan banks, according to a leak report.

It also revealed that the LIA (Libyan Investment Authority) holds billions of dollars in shares in global corporations like BP, General Electric, Deutsche Telekom and Vivendi. It had already been broadly registered that the fund held pledges in United Kingdom publishing group Pearson, industrial group Finmeccanica and Italy's Unicredit bank, as well as Canadian oil firm Verenex.

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