Thursday, May 6, 2010

The Banksters Who Are Stuck with Greek Debt

At the time of accepting the Greek toxic bonds repo agreements some banks such as Commerzbank and HSBC had entered into repo with Greek banks from 1.5 to 2 billion each.

These banks have sought various ways to get rid of the Greek bonds, but the repo does not break easily.

From foreign banks big exposure to toxic Greek bonds - say toxic as these CDS spread and toxic only be described - are:

BNP Paribas 5 billion multi-repo in Greek banks.

The Commerzbank 3.1 billion in repo to a large Greek bank.

The HSBC 2 billion in bonds through repo Greek by a Greek major bank
The Societe Generale 3 billion

The Natixis to 830 million.

The BNP Paribas said it would retain the Greek bonds over the next 2-3 years (5 billion) and borrowings of Greek (3 billion euros)

The Credit Agricole 500 mn euros Zurich Finance 400 mn dollars, AXA 500 mn euros.

The French banks and insurance companies have the greatest exposure to toxic Greek bonds.

Positive support of the Greek debt and Dutch banks hold funds with 12 billion.

The Greek bond ING holds 3 billion and Rabobank 300 million

No comments:

Post a Comment