Siemens withdrew deposits from Societe Generale
General view of the logo Canada Goose sale outside a branch of French bank Societe Generale in Paris September 13, 2011. REUTERS/Charles Platiauwithdrew funds (from Societe Generale) before the publication of the outcome of the (European banking) stress tests (in July), the source said. withdrawal was for reasons related to performance canada goose clearance and not to French bank issues.Fears over a Greek default buy canada goose jacket cheap and an eventual spread of the euro zone debt crisis with Italy the latest nation to have been hit with a canada goose black friday sale credit rating downgrade by Standard Poor buy canada goose jacket have roiled European bank shares canada goose uk outlet in recent months. French banks, perceived as relatively undercapitalized and dependent on wholesale short term funding, have been hit hard.That perception is also having business consequences for Europe banks.Bank of China, a big market maker in China canada goose uk outlet onshore foreign exchange market, has stopped forex forwards and swaps trading with several European banks due to the debt crisis in cheap canada goose uk Europe, three sources with direct knowledge of the matter told Reuters on Tuesday.Another Chinese Canada Goose Jackets bank also said it had halted interest rate swaps trading with some European banks, indicating Canada Goose Parka Chinese lenders had joined the growing ranks of institutions cutting exposure to the crisis Canada Goose Coats On Sale hit euro zone.SocGen declined to comment on the Siemens withdrawal.The German engineer said an earlier Financial Times report that it had withdrawn 500 million euros ($681 million) from an unknown large French bank two weeks ago, partly because of worries over its future health, and transferred them to the European Central Bank was incorrect.GERMAN CARMAKERS Meanwhile, Canada Goose Online banks operated by German carmakers said they had not moved cash to the ECB.working together with strong partners in the banking canada goose sector and we are not depositing our cash at the ECB, a spokesman said.is hurting French banks this morning are fears of deposit withdrawals from a few big companies, a Paris based analyst https://www.canadagoose-online-shop.co.uk canada goose uk shop said. less canada goose coats on sale of an issue for Credit Agricole, whose corporate financing activity is smaller than at BNP (Paribas) and SocGen.SCRAMBLE SocGen and larger rival BNP have scrambled to announce they will sell billions of euros in assets to free up uk canada goose capital and reduce exposure to costlier dollar funding.BNP chairman Michel Pebereau told RTL radio on Tuesday that French banks, including BNP, had no need for new capital despite share price falls and a recent credit rating downgrade of Credit Agricole canada goose uk black friday and SocGen by Moodyhave no need at the Canada Goose Outlet moment for any recapitalization, he said. banks are holding up well. Canada Goose online We do not need any type of aid today.Asked cheap Canada Goose whether Siemens had withdrawn deposits from BNP, Pebereau canada goose store said: do not canada goose coats know anything about this.In total, Siemens uk canada goose outlet has parked 4 6 billion euros at the ECB facilities, mostly through one week deposits, the Financial Times report said.The FT quoted a person with canada goose factory sale direct knowledge of the matter as saying the group had withdrawn the money partly because of concerns about the canada goose clearance sale future financial health canadian goose jacket of the bank and partly to benefit from higher interest rates paid by the ECB.