Bank Property Lending Retreat a Lehman Legacy: Mortgages

For J.H. Snyder Co. to start building a $197 million Los Angeles apartment complex in June, the developer cobbled together funds from two city agencies, a mezzanine lender and a pension fund to help fill a 63 percent funding gap left by JPMorgan Chase & Co. (JPM)’s construction loan.

Moody's: Australia vulnerable to external shocks

SYDNEY--Australia is vulnerable to a global downturn and the government's pledge to return the budget to surplus will be challenged but the Australian dollar will still be partly supported by its emerging "safe haven" status, said Steven Hess, senior credit officer and the chief sovereign analyst for Australia at Moody's Investors Service.