EU Bailout In The Works?

October 2008
Investment Dealers' Digest;10/6/2008, Vol. 74 Issue 38, p17
Trade Publication
The article reports on the plan of the French government to assist in assisting €300 billion ($147 billion) bailout fund to rescue European banks caught up in the credit crunch. It notes that the money could be used to help recapitalize banks or to create a U.S.-style deposit for illiquid mortgage securities. Under the proposal, only triple-A rated mortgages written before December 2007, and packaged into securities can be used as collateral, including other asset such as corporate loans.


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