BBVA, Spain’s second-biggest listed bank, is being squeezed out of the US commercial paper market as a source of funding, in the latest sign of pressure facing eurozone banks, reports the FT. BBVA bank did not renew €1bn ($1.2bn) in short-term funding in the US market, going elsewhere due to rising interest rates. FT Alphaville notes that Spanish banks are the latest example of the “tipping point” for Europe’s banks’ funding risk.

This entry was posted by Gwen Robinson on Thursday, May 27th, 2010 at 4:54 and is featured in The 6am Cut London (27 May 2010) . Tagged with bbva. Edit this entry.