{"id":3176,"date":"2011-11-03T23:04:35","date_gmt":"2011-11-04T03:04:35","guid":{"rendered":"http:\/\/streamingradioguide.com\/startingover\/?p=3176"},"modified":"2011-11-03T23:06:09","modified_gmt":"2011-11-04T03:06:09","slug":"bnp-paribas-throws-in-its-hand","status":"publish","type":"post","link":"https:\/\/streamingradioguide.com\/startingover\/?p=3176","title":{"rendered":"BNP Paribas throws in its hand"},"content":{"rendered":"<p><a href=\"http:\/\/dealbook.nytimes.com\/2011\/11\/03\/bnp-paribas-writes-down-greek-debt-as-earnings-slump\/\">http:\/\/dealbook.nytimes.com\/2011\/11\/03\/bnp-paribas-writes-down-greek-debt-as-earnings-slump\/<\/a><\/p>\n<p>Without mentioning names, it has been understood for a while that if the Greek government fails and defaults on its sovereign debt, French banks stand to lose a lot &#8211; enough to force them to seek government bailouts.<\/p>\n<p>BNP Pariabas is the largest bank in France.\u00a0\u00a0 It announced it has given up any hope for a recovery in the value of their Greek debt and taken a $2.9 billion (60%) writedown on its Greek debt, and trying to unload its Italian and Spanish debt and loans to Greek businesses.<\/p>\n<p>The more interesting part is near the end of the story, as is often the case.\u00a0\u00a0 &#8220;Tier 1&#8221; capital is the &#8220;Rock Solid&#8221; money held by banks that is the cushion to prevent the banks from being knocked over in a panic.\u00a0\u00a0 BNP Paribase exceeds the 9% target of Tier 1 capital, but in order to reduce risk, it is exiting the business of making loans in U.S. Dollars &#8211; just too risky.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>http:\/\/dealbook.nytimes.com\/2011\/11\/03\/bnp-paribas-writes-down-greek-debt-as-earnings-slump\/ Without mentioning names, it has been understood for a while that if the Greek government fails and defaults on its sovereign debt, French banks stand to lose a lot &#8211; enough to force them to seek government bailouts. BNP &hellip; <a href=\"https:\/\/streamingradioguide.com\/startingover\/?p=3176\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[104],"tags":[],"class_list":["post-3176","post","type-post","status-publish","format-standard","hentry","category-global-finances"],"_links":{"self":[{"href":"https:\/\/streamingradioguide.com\/startingover\/index.php?rest_route=\/wp\/v2\/posts\/3176","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/streamingradioguide.com\/startingover\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/streamingradioguide.com\/startingover\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/streamingradioguide.com\/startingover\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/streamingradioguide.com\/startingover\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3176"}],"version-history":[{"count":3,"href":"https:\/\/streamingradioguide.com\/startingover\/index.php?rest_route=\/wp\/v2\/posts\/3176\/revisions"}],"predecessor-version":[{"id":3178,"href":"https:\/\/streamingradioguide.com\/startingover\/index.php?rest_route=\/wp\/v2\/posts\/3176\/revisions\/3178"}],"wp:attachment":[{"href":"https:\/\/streamingradioguide.com\/startingover\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3176"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/streamingradioguide.com\/startingover\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3176"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/streamingradioguide.com\/startingover\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3176"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}