BNP Paribas Sold $2 Billion Swaps on France, EBA Says
This article is for subscribers only.
BNP Paribas SA, France’s biggest bank, sold a net 1.5 billion euros ($2 billion) of credit-default swaps on the nation’s sovereign debt, according to data compiled by the European Banking Authority.
UniCredit SpA, Italy’s biggest lender, and Banca Monte dei Paschi SpA are net insurers of more than 500 million euros each of their government’s bonds, and Oesterreichische Volksbanken AG, the Austrian lender which has yet to pay interest on 1 billion euros of state aid received in 2009, has guaranteed a net 839 million euros of its national debt, EBA data show.