RBC Dexia - "business as usual" 04 October 2011London Reporter: Anna Reitman
Image: Shutterstock
Dexia's woes are not impacting joint venture RBC Dexia, according to a spokesman at RBC Dexia.
"It's business as usual here. Dexia's statement has no impact on our operations," he says.
The worsening of the European sovereign debt crisis and the tensions on the interbank market have created a funding crisis for the Belgian-French bank and talks are under way on how to "resolve the structural problems penalising the Group's operational activities," according to a statement issued by Dexia.
A spokesman for Dexia would not comment on any specific entities, including RBC Dexia.
Belgium's cabinet is meeting today to discuss measures, among them, creating a "bad bank" to hold a portfolio of bonds worth about €100bn ($130bn), which will receive state guarantees from Belgium and France, according to the Financial Times.
"The states shareholders have confirmed their will to support Dexia Group, so that it can implement
the various measures in an orderly manner and under the best conditions," wrote Dexia in the released statement.
NO FEE, NO RISK 100% ON RETURNSIf you invest in only one asset servicing news source this
year, make sure it is your free subscription to Asset Servicing Times
Image: Shutterstock 