Deutsche Bank’s exposure to “casino banking” in Las Vegas has reached $4.9bn, rivalling its exposure to countries affected by the eurozone debt crisis, reported the FT.
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The insurer is happy with the exposure it has to indebted euro zone member states and is confident that European leaders will find solutions to the de debt crisis, Aviva CEO Andrew Moss told CNBC Friday.
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US money market funds have sharply cut their exposure to banks in the euro zone over the past few weeks and reduced the availability of credit, even in stronger countries such as France, the FT reported.
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Lloyds Banking Group’s exposure to the riskiest kind of mortgages is more than double that of any of its top five rivals in what is potentially a ticking time bomb for Britain’s largest high-street lender, the FT reports.
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