Spanish banks holding their own in CP market but forced to pay more and more
Spanish banks are this week facing both substantial and increasing difficulties in the European commercial paper market while action by the European Central Bank offered alarmed market participants little solace.
The ECB provided Eu111bn of six day money to 78 banks on Thursday at a cost equal to the Eu442bn of one year money that matured on the same day but dealers in London suggested that the market is critically flawed.
"Im very worried about where this is all
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