SEATTLE: Warren Buffett just took another step to simplify Berkshire Hathaway Inc’s stockpile of derivatives.
The company paid US$195mil in July to wind down the last contract in which Omaha, Nebraska-based Berkshire provided protection against losses on bonds, according to a regulatory filing Friday that didn’t identify the counterparty. As of June 30, the maximum risk on that credit-default agreement was about US$7.8bil.
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