Light link day … mainly because I’m cannibalizing my links for another post.
- “France balks at reforms that will standardize banking rules”. FT
- Potential scenarios for yields and EUR depending on ECB actions. Bloomberg
Most interesting statistic in the first FT article:
Non-financial groups’ bank loans make up 14 per cent of gross domestic product in the US while in the eurozone it is 89 per cent.
In the US, we securitize all of the loans, distributing risk more widely. In Europe, all the loans sit on bank balance sheets.