Bank Lobbyists Push Members to Support Greek Rollover Plan

The Institute of International Finance, which lobbies on behalf of banks, is pressing members that hold Greek government debt to support a rescue package amid concern it may not reach its 90 percent participation target.

European lenders including Deutsche Bank AG and BNP Paribas SA pledged to back the plan brokered by the Washington-based lobby group. Together, banks that own a total of 61 billion euros ($88 billion) of Greek debt have signed up, according to figures from the European stress tests this month. Banks holding a further 37 billion euros have yet to state their intentions.