Dexia scheme extended but shrunk as it seeks alternatives
The governments of Belgium, France and Luxembourg agreed on Friday (September 18) to extend Dexia’s guarantee scheme for a year to the end of October 2010, with some modifications.
The limit for outstanding guaranteed debt has been reduced from Eu150bn to Eu100bn and Dexia has committed to do its best to keep itself to Eu80bn.
The maximum maturity has been extended to four years, and the bank will waive the benefit of the guarantee for all new contracts
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