The process of assets transfer from European banks continues to take place.

23.09.2011 In recent months there has been a tendency of assets withdrawal from European banks. This is connected primarily with the unstable situation in Europe caused by the crisis.

Thus, in July 2011. the large company Siemens withdrew its short-term deposits from the French bank Societe Generale. And as media broadcast, the foreign exchange transactions between the Bank of China and Societe Generale, Credit Agricole, BNP Paribas and UBS have been suspended.

Today European banks unequivocally face a crisis of confidence. It's not a secret that most of these credit institutions refuse to make short-term loans without granting a pledge. Analysts make disappointing forecasts: to their opinion, a growing number of European banks will not be credited by the Interbank Stock Exchange but the ECB, moreover such fears are confirmed by the fact of rising rates of borrowing at the ECB.

Expert’s opinion

“Of course, we can talk about credit reducing in euro zone but is it worth naming the situation critical? That’s a controversial issue. We can not declare about the mass nature of assets withdrawal from European banks as these measures have been taken only by a few large companies (Lloyd's of London, Siemens). The sentiments of investors are the obvious disadvantage of this situation. Banks of Europe by all means should regain the trust of customers”.

On the basis: www.expert.ru

Andrianova Irina ( The lawyer of international consulting department of “Honest & Bright”)