French banks were charged higher interest rates on short-term U.S. borrowing than their European rivals after they cemented their links to risky Greek debt in a pact to roll over their bond holdings when they mature.
However, the higher rates in the U.S. commercial paper market might be a lower price in the long run than if they had not participated in efforts to keep Greece solvent, analysts said.
"The French banks will feel some pressure from the rollover, but in the long term they will avoid additional disruption," said Sean Simko, senior portfolio manager at SEI Investments Co in Oaks, Pennsylvania, which manages $179 billion in assets.
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However, the higher rates in the U.S. commercial paper market might be a lower price in the long run than if they had not participated in efforts to keep Greece solvent, analysts said.
"The French banks will feel some pressure from the rollover, but in the long term they will avoid additional disruption," said Sean Simko, senior portfolio manager at SEI Investments Co in Oaks, Pennsylvania, which manages $179 billion in assets.
Read more...........
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