26 sierpnia 2011

Liczba dnia - 8 bln euro - eurozone banks

W sprawie finansowania się banków europejskich, możliwego odcięcia ich przez Money Market Funds (MMF): FT: US funds show true state of eurozone banks
[..] surprising degree to which eurozone banks depend on short term financing. Morgan Stanley calculates that of the €8,000bn funding that is currently in place for the largest 91 eurozone banks, some 58 per cent needs to be rolled over in the next two years. More startling still, some 47 per cent of this funding is less than a year in duration. Much of that is in euros. However, as the saga of the money market funds shows, eurozone banks have been raising short-term dollar funds too, either to finance their portfolios of dollar assets, or to provide a cheap form of funding (which is then swapped back into euros.) The scale of this reliance is – thankfully – not nearly as large as it was in, say, 2007; back then eurozone banks had a vast network of dollar-funded mortgage vehicles, creating a funding mismatch that was about $800bn, according to the Bank for International Settlements. Nevertheless, some element of this mismatch remains; hence the current crunch.
Dodatkowo Fitch: U.S. Money Fund Exposure to European Banks Remains Significant

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