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France’s BNP, Credit Agricole on ‘Frontline’ With Italy Risk

French banks, including BNP Paribas SA and Credit Agricole SA, have the most at risk from the euro-region’s debt crisis infecting Europe’s largest borrower, Italy.

At the end of 2010, French banks carried $392.6 billion in Italian government and private debt, according to data from Basel, Switzerland-based Bank for International Settlements. That’s the most for financial institutions from any foreign country and more than double held by German lenders.