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Banking

WireTap 1400 16/03/12

A round-up of the key stories across the specialist financial media, including news that the top US money funds doubled French bank holdings last month.


Top money funds doubled French bank holdings last month

The 10 biggest prime U.S. money market mutual funds more than doubled their holdings in French banks in February, as lending from the European Central Bank bolstered investor confidence.

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Hector Sants to quit FSA in June

Hector Sants has resigned as chief executive of the Financial Services Authority, after losing patience with the process of regulatory reform that would have made him one of three deputy governors of the Bank of England.

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Euro zone may up bailout fund capacity to near 700 billion euros: officials

The eurozone may raise the combined lending power of its bailout funds to close to 700 billion euros from 500 billion in a trade-off between German opposition to committing more money and calming markets, euro zone officials said.

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Italy said to pay Morgan Stanley $3.4 billion

When Morgan Stanley said in January it had cut its “net exposure” to Italy by $3.4 billion, it didn’t tell investors that the nation paid that entire amount to the bank to exit a bet on interest rates.

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Banks Eye AIG Bailout Assets

A growing appetite for risk is prompting some Wall Street banks and investment firms to show interest in buying the most complex and troubled assets tied to the bailout of American International Group Inc.

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