Lebanon’s central bank
Fears are mounting over the viability of Lebanon’s banking sector, which is over-exposed to state bonds, as the government begins what will likely be a drawn-out restructuring of its debt.
Legislation requiring large depositors to enter into a deposit to share-swap is the only way to prevent bankruptcy, a senior Lebanese banker tells Euromoney.
For years, Lebanese banks have served as a conduit for state funding, funnelling deposits back to the central bank Banque du Liban, which has, in turn, lent money to the government.
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