Crédit Agricole plans further cuts in short term funding
Crédit Agricole expects to reduce its short term debt by more than a quarter over 18 months, the group said on Thursday, in a move that could signal growing bank aversion to short term funding.
The group plans a 50bn structural reduction in its debt between June 2011 and December 2012 as part of its response to tough bank financing conditions.
The bulk of this cut 45bn will be in short term debt. The group reduced its short term debt by
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