Pleas for sanity as panic over European bank funding sets in
Bankers and participants in the short term debt markets this week called for sanity and a measured analysis of banks’ liquidity positions amid escalating fears of a European bank funding crisis. This is not a replay of Lehman Brothers in 2008, they stressed.
Much of the market turmoil was prompted by the disclosure by the European Central Bank that it had lent $500m of one week dollars to one unnamed institution. European bank shares tumbled for another week, with market commentators focused on the indication that they might be having difficulty
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