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Old Debts Dog Europe's Banks
Keywords:
European banks have been slow to get rid of risky assets such as collateralized debt obligations, subprime mortgages and other risky assets after the 2007 financial crisis. As a result sixteen top European banks hold 386 billion euros of suspect credit-market and real estate assets, according to Credit Suisse analysts. The Royal Bank of Scotland has 79.6 billion of assets dating from the 2007 financial crisis. Over the three year period since the 2008 financial crisis, the top three U.S. banks shed 80% of this type of risky assets, compared to 50% for European banks. The four largest British banks have reduced these risky assets by more than 50%, and four French banks have reduced these assets by only 30%. At 29 billion euros, French bank Credit Agricole had the largest amount of such risky assets among the leading French banks. This adds to the difficulties facing French banks which also have large amount of loans to customers in Greece and Greece's sovereign bonds. Deutsche Bank has 20.2 billion euros in commercial mortgages and whole loans and 2.9 billion euros in U.S. residential assets including subprime loans. Mediobanca analysts estimate that Deutsche Bank's exposure to such assets is more than 150% of its tangible equity.
Europe's Banks.
07/09/2010
Issues of European banks, including recapitalization.
Grouped Articles
Europe's Elusive Stash of Cash
Wall Street Journal 07/09/2010
Crisis Awaits Worldâs Banks as Trillions Come Due
New York Times 07/11/2010
European banks: The last idealists
Economist 12/11/2010
French Banks Warned on Their Greek Debt
Wall Street Journal 06/16/2011
Wall Street Journal 07/13/2011
U.S. Bank Stocks Fall on Anxiety About Europe
New York Times 08/18/2011
European banks and the impact of potential defaults or country exits from the euro
12/11/2010
Grouped Articles
European banks: The last idealists
Economist 12/11/2010
Wall Street Journal 07/13/2011
IMF Chief's Change of Tune on Bank Capital
New York Times 09/14/2011
Wall Street Journal 09/15/2011
IMF Urges EU Banks To Raise Capital
Wall Street Journal 09/22/2011
Banks Conduct Greek 'Fire Drills'
Wall Street Journal 11/04/2011
The logjam between the bondholders (mostly French and German banks) and the German government- 2010-2012
07/01/2011
The roots of the Eurozone financial crisis go back to the issue of who should pay for the excess lending of French and German banks. Will it be the German taxpayer or the banks that took excessive risks? German financial experts, the German government and parliament, German public opinion, are all adamantly opposed to letting the banks off without sharing at least 50% of the costs of a bailout. A review done by the European Commission in coordination witht he IMF and the ECB, shows that from May 2010 (the date for the inception of the aid program to Greece) to September 2011, $52 billion of the $91 billion loaned to Greece went to pay bondholders for bonds that came due. The July 2011 EU agreement for Greece called for 21% of losses to be allocated to the bondholders. The German government is pushing for 50% and German parlamentary leaders in Merkel's party are balking at anything less.
Grouped Articles
Wall Street Journal 07/13/2011
New York Times 04/13/2013
Policy âTroikaâ for Europe Financial Woes at Odds
New York Times 06/07/2013
Most Greek bailout money has gone to pay off bondholders - The Washington Post
Washington Post 10/23/2011
Dexiaâs Collapse in Europe Points to Global Risks
New York Times 10/22/2011
European Officials Shaping Greek Rescue and Effort to Aid Banks
New York Times 10/22/2011
The urgency for recapitalization of European banks in 2011-2015
07/13/2011
EU banks face potential losses of 300 billion euros from troubled EU countries. 120 billion euros from Italy, Spain and Belgium, 60 billion euros from Greece, 20 billion euros from Ireland and Portugal, and $100 billion euros from other banking exposure, accordig to the IMF. IMF managing director, Christine Lagarde, has pointed to the urgent need for recapitalization of European banks,urgently because restricted lending by EU banks in the absence of recapitalization could further damage the economies of EU countries.
Grouped Articles
Spanish Banks More Vulnerable Than Italy's
Wall Street Journal 07/13/2011
Bank of Italy Inspecting Top Lenders' Books
Wall Street Journal 07/30/2013
Central Bank Details Somber State of Europe’s Banking System
New York Times 10/13/2014
Wall Street Journal 07/04/2015
The Banker Who Is No Longer Welcome in Restaurants
Wall Street Journal 01/27/2016
Italy Agrees on Fund to Support Battered Lenders
Wall Street Journal 04/12/2016
France's banks and losses from expansion in Greece
06/22/2011
French banks BNP Paribas, Societe Generale, Credit Agricole and other banks expanded in Greece. This is now turning out to be a burden.
Grouped Articles
Wall Street Journal 06/23/2011
Derivatives Cloud the Possible Fallout From a Greek Default
New York Times 06/22/2011
A Guide to the New Deal in Athens: How a 'Selective Default' Works
Wall Street Journal 07/22/2011
Wall Street Journal 07/22/2011
Fear, Rumors Pummel Europe Bank Shares
Wall Street Journal 08/11/2011
Bans Imposed on Some European Short Selling
Wall Street Journal 08/12/2011
The Wall Street Journal's reporting in 2011-2012 on France's banks, BNP Paribas, Credit Agricole and Societe Generale
09/16/2011
Grouped Articles
Dollars to the European Rescue
Wall Street Journal 09/16/2011
IMF Urges EU Banks To Raise Capital
Wall Street Journal 09/22/2011
German Bankers Argue Against Capital Plans
Wall Street Journal 10/14/2011
European Banks Face Deadline to Raise Capital Levels
New York Times 10/13/2011
French Banks Absorb New Hit From Greek Debts
Wall Street Journal 10/15/2011
Banks Conduct Greek 'Fire Drills'
Wall Street Journal 11/04/2011
Globalization aspect of 2007 subprime mortgage crisis
07/04/2009
German, Japanese or Chinese banks may have a large number of subprime mortgage securities in their portfolio. How the particular bacground of each country or bank has helpedd disperse the USA mortgage crisis around the globe.
Grouped Articles
A Toxic Subprime Mortgage Bond's Legacy Lives On
Wall Street Journal 09/13/2013
Asian Officials Push Back Against Savings Glut Theory
Wall Street Journal 07/04/2009
Wall Street Journal 11/07/2011
Homeownership Rate Declines to 15-Year Low
Wall Street Journal 05/01/2012
Fed chief Bernanke urges better financial regulation to prevent crises
Washington Post 01/04/2010
European Banking Authority E.U. Stress tests for banks in 2010 and 2011
10/02/2009
Stress tests for banks in Europe in July 2010 and in 2011.
Grouped Articles
Wall Street Journal 07/16/2011
Stress Tests Won't Prevent the Next Financial Crisis
Wall Street Journal 03/19/2014
EU's Top Banks Pass Stress Tests
Wall Street Journal 10/02/2009
Document Contradicts EU Bank Statement
Wall Street Journal 10/06/2009
Wall Street Journal 10/03/2009
Moody's Questions Spanish Banks
Wall Street Journal 10/14/2009
Fears that Basel III and European Banking Authority E.U. Stress Tests may not adequately reflect the risks on banks balance sheets.
01/21/2010
The situation after bailout of Irish banks in November 2010 by the EU. The Irish banks had passed European stress tests. Portuguese and Spanish banks may face a similar situation.
Grouped Articles
Wall Street Journal 07/16/2011
Europe Fails Another Stress Test
Wall Street Journal 07/16/2011
The Battle Over Bank Rules at Basel III
BusinessWeek 05/27/2010
Wall Street Journal 09/13/2010
Basel Rules Unlikely to Force Capital Raising
Wall Street Journal 09/14/2010
Wall Street Journal 09/14/2010
Britain, Sweden, Spain and Basel III capital reserve requirements for banks
01/21/2010
Britain, Sweden and Spain oppose the dilution of capital reserve requirements for European banks through a broad definition of what constitutes Tier 1 capital. Germany, France and some other European countries favor a loose definition of Tier 1 capital. The systemic risks of lower reserve requirements and loose definitions of Tier 1 capital in a global banking crisis and the danger to taxpayers.
Grouped Articles
Spanish Banks More Vulnerable Than Italy's
Wall Street Journal 07/13/2011
The Battle Over Bank Rules at Basel III
BusinessWeek 05/27/2010
Swiss Politicians Push for Stricter Bank Capital Rules
Wall Street Journal 11/04/2013
Wall Street Journal 09/13/2010
Basel Rules Unlikely to Force Capital Raising
Wall Street Journal 09/14/2010
Wall Street Journal 09/14/2010
U.S. money market funds, European banks and global credit markets
06/22/2011
Grouped Articles
Wall Street Journal 06/22/2011
Wall Street Journal 06/22/2011
Wall Street Journal 06/27/2011
In a Greek Default, Higher Risk for Money Market Funds
New York Times 06/28/2011
There's No Greek Mayhem in U.S. Money-Market Funds
Wall Street Journal 06/30/2011
Wall Street Journal 07/02/2011
Risky assets from the 2007 financial crisis still on the books of banks in France, Germany and the UK
11/07/2011
Grouped Articles
Germany’s Battered Regional Lenders Tiptoe Back Into Risk
Wall Street Journal 11/02/2015
Wall Street Journal 11/07/2011
Why European Banks Are Sacrificing Growth
BusinessWeek 12/15/2011
French Banks Thrust Into Limelight
Wall Street Journal 01/14/2012
Long-term understanding of the U.S. economic crisis - The Washington Post
Washington Post 03/19/2012
In Europe, Banks Borrowing to Stay Ahead of the Tide
New York Times 06/10/2012
German banks and risk exposure in 2010-2011
11/25/2010
Grouped Articles
Germany’s Battered Regional Lenders Tiptoe Back Into Risk
Wall Street Journal 11/02/2015
German Banks Stronger, but Risks Remain, Report Says
New York Times 11/25/2010
Some German Banks May Fall Short in Stress Tests
New York Times 04/08/2011
German Banks May Add to Capital
Wall Street Journal 04/06/2011
Stress Rules Hit 2 German Banks
Wall Street Journal 04/13/2011
Wall Street Journal 06/16/2011
Recapitalization of Banks in the U.K. and the U.S.
09/29/2008
With Gordon Brown's initiative in the UK and Secretary Paulson shifting TARP1 focus to injecting capital into struggling banks, the focus shifted to this in the last quarter of 2008.
Grouped Articles
Cost of Bailouts Continues to Decline
Wall Street Journal 05/10/2013
Barclays Plans to Issue New Shares
Wall Street Journal 07/29/2013
Barclays Emerges From the Doghouse
Wall Street Journal 07/29/2013
Barclays Aims to Fill Expensive Hole
Wall Street Journal 07/30/2013
Plan to Help Banks Clear Their Books Is Halted
New York Times 06/04/2009
European Regulators Move Swiftly to Rescue Two Lenders
New York Times 09/29/2008
The challenges facing Deutsche Bank as it struggles to meet new reserve capital requirements in 2012-2013
11/07/2011
Linked Articles
Deutsche Bank Lists Litany of Legal Risks
Wall Street Journal 03/21/2012
Wall Street Journal 11/07/2011
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