IMF Warns of Risks to Global Financial Stability
The International Monetary Fund said European banks may need to sell as much as $4.5 trillion in assets through 2013 if policy makers fall short of pledges to stem the fiscal crisis, up 18 percent from its April estimate.
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BNP 1Q Net Profit Rises on Lower Loan-Loss Provisions
26:46 - BNP Paribas SA, France’s largest bank, posted a surprise increase in first-quarter profit as a decline in provisions for bad loans helped outweigh a slump in trading revenue. Net income rose 10 percent to 1.81 billion euros ($2.1 billion) from 1.65 billion euros a year earlier, the Paris-based bank said in a statement Tuesday. Bloomberg's Caroline Connan spoke to the bank's Chief Financial Officer Lars Machenil about the numbers.