Of Special Interest
15th July 2011
French banks most exposed to Italian sovereign debt
The Bank for International Settlements reports that French banks held $393bn (€279bn £246bn ¥31.2bn Y2,542bn) of Italian sovereign bonds as at 2010 year end. Italy is reported to have $1.6tr (£1.4tr $2.3tr ¥179tr Y14.6tr) of bonds outstanding therefore making the French banks market share around 12.4%.
The stock price of BNP Paribas and Société Générale has fallen around 11% in the last month and Crédit Agricole by 13%.