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Quoting the Crisis
15/01/2012
“ Bloomberg reports that US money market funds reduced their lending to French banks by 97% (yes that’s 97% – no typo) in 2011. US, Japanese and Swiss banks have benefited from this shift. However, I repeat, the ECB’s UNLIMITED 3 year LTRO is a game changer. There is NO LIQUIDITY issue facing (virtually all) European banks – even INSOLVENT BANKS COULD WELL SURVIVE. By the way, French banks increased their use of ECB funding by 62% in the 4th QW 2011, according to the Banque de France. „
(
Source:
ritholtz.com
)
Kiron Sarkar in And then there were 4 | The Big Picture
