UK banks reveal size of eurozone funding gaps

Banks reduce cross-border funding of peripheral eurozone assets in an attempt to mitigate redenomination risk - but funding gap still tops £10 billion for Spain


Three UK banks have published details on the funding mismatches they would face in the event of peripheral eurozone countries reverting to legacy currencies – a risk for which the industry as a whole has been preparing for more than a year, by secretly building single-country balance sheets and trying to better-match assets and liabilities in each.

Barclays, HSBC and Royal Bank of Scotland (RBS) all provided figures in their interim accounts – which is thought to be the first time the size of

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