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26th July 2011

French bank hit hardest by Greek settlement

Under the Greek rescue plan banks will write down 21% of the value of Greek securities held. Europe's 90 largest banks hold €98bn of Greek securities.


BNP Paribas is expected to write down around €1bn, Société Générale €500m and Crédit Agricole 138m. Deutsche Bank is the third largest holder and will have to write down €317m.