via cbsnews.com
Friday, July 15, 2011
8 banks flunk European stress test; 16 more barely pass - USATODAY.com
FRANKFURT, Germany (AP) — Eight of 90 European banks have flunked stress tests that project how they would fare in another recession, and 16 more barely passed, Europe's banking regulator said Friday.
via usatoday.com
Citigroup Says $22 Billion at Risk in Five European Nations - Businessweek
July 15 (Bloomberg) -- Citigroup Inc., the third-biggest U.S. bank, estimated it has at least $22 billion in loans, trading assets and other “exposures” to Greece, Italy, Portugal, Spain and Ireland.
The net figure includes $13 billion in so-called funded exposure as of June 30, mostly in the form of credit to financial institutions and companies, according to an earnings presentation today on the New York-based firm’s website. Sovereign entities account for “a little more than” $1 billion of that amount, it said.
The remaining $9 billion is unfunded exposure, mainly to international companies based in the five countries, where Citigroup provides settlement and clearing services, according to the presentation. Estimates were based on the firm’s internal risk measures, it said.
via businessweek.com
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