German banks prepare for energy-related defaults – Bloomberg ...News

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German banks prepare for energy-related defaults – Bloomberg
source : Russia Today ( News ) () 38
The country’s lenders are reportedly hoarding cash to support businesses if Russia halts gas supplies Banks in Germany are expected to put aside extra funds to be able to tackle a potential spike in defaults if Russia cuts off natural gas supplies, several high-ranking banking officials said, as quoted by Bloomberg. In case of a complete suspension of Russian gas supplies, Europe’s largest economy is projected to fall into recession and the lenders will be required to bolster corporate loans with more capital, according to BNP Paribas Germany head Lutz Diederichs, as quoted by the media. He echoed comments made by

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