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ECB worries that some EU banks may be too exposed to Turkey … MARKETWATCH August 10, 2018 at 08:31AM

ECB worries that some EU banks may be too exposed to Turkey … MARKETWATCH

 

ECB worries that some European banks may be too exposed to Turkey: FT

By Barbara Kollmeyer

The European Central Bank is getting increasingly concerned about the exposure of exposure of some banks in the region — specifically from Spain, Italy and France — to
the woes of Turkey, the Financial Times reported Friday, citing two sources close to the situation.

Spain’s BBVA, Italy’s Unicredit SpA France’s BNP Paribas SA among the biggest lenders to the country, have come under closer scrutiny by the Single Supervisory Mechanism, the ECB’s arm charged with monitoring
the region’s banks.

The lira was down another 9% against the dollar on Friday to 6.0497, as investors waited to hear from Finance and Treasury Minister, Berat Albayrak, who is expected to announce a “new economic model” in a speech
on Friday.

 

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