Rights issues: European banks go it alone

BNP Paribas leads the way on state repayment; Are other banks looking to do too much, too soon?


	“State intervention to provide equity and liquidity has fully achieved its objectives. Given the changing environment and strong performance of BNP Paribas, this support is no longer required” Baudouin Prot, BNP Paribas

The IMF’s Global Financial Stability report, published during its annual meetings in Istanbul in October, states that European banks have been slower to take their lumps in this crisis than the US banks which, in aggregate, have already recognized 60% of their cumulative losses.