Banks Cut Cross-Border Lending by Most Since Lehman, BIS Say

Banks Cut Cross-Border Lending by Most Since Lehman, BIS Say

Balint Porneczi/Bloomberg

The Societe Generale SA headquarters are seen in the La Defense business district in Paris. Euro-area banks slashed cross-border lending by $584 billion in the quarter as institutions including Societe Generale SA, Commerzbank AG and UniCredit SpA cut assets to meet European Banking Association capital rules.