Tuesday, March 26, 2013
Overseas lending, bank exposure to Cyprus around $100 billion: BIS, Moody's.
Overseas lending, bank exposure to Cyprus around $100 billion: BIS, Moody's.(Reuters).(Compiled by Steve Slater, Marc Jones and Edward Taylor; Editing by David Cowell). Overseas lenders, excluding those in Russia, had $59.2 billion of outstanding loans to Cyprus at the end of September, according to Bank for International Settlements (BIS) data.
BIS statistics, the only ones to chart cross-border lending around the world, do not include loans from Russia. Ratings agency Moody's estimates Russian bank loans to Cyprus-based companies of Russian origin were $30-40 billion.
The BIS data show lenders from Greece and Germany have the biggest exposures to Cyprus of the reporting countries.
Cyprus on Monday reached a 10 billion euro ($13 billion) rescue plan to avoid economic meltdown after more than a week of intense scrutiny on the island's future.
Some banks disclose their loans to Cyprus, but the European Banking Authority has not forced banks to release a breakdown since a 2011 stress-test.Read the Full story here.
COUNTRY EXPOSURE TO CYPRUS (in Billions of dollars)
Russia* 30-40
Greece 16.4
Germany 7.6
France 2.5
Switzerland 2.2
United Kingdom 2.2
Netherlands 1.9
Austria 1.7
United States 1.7
Italy 1.6
Sweden 1.4
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