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Bank exposure to Ireland and southern Eurozone above forecast
BANKS’ total exposure to Ireland and the southern rim of the Eurozone in the second was greater than previously thought, according to data from the Bank for International Settlements published yesterday.
The data showed UK banks had the highest exposure to Ireland at the end of the second quarter. UK banks’ exposure was $187.5bn (£119bn), and German banks’ exposure to Ireland was $186.4bn. Spanish banks had the highest exposure to Portugal, with a figure of $98.3bn and German banks topped the list of Spanish creditors, with a total exposure of $216.6bn.
France’s total exposure to Greece stood at $83.1bn, while German banks’ was $65.4bn.
Total foreign exposures of BIS-reporting banks to Greece, Ireland, Portugal and Spain was $2.28 trillion.