Most Banks Can Deal With Crisis, Says SocGen Chairman

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  • Apr.20 — The creation of a “bad bank” would only benefit a handful of European lenders, says Societe Generale SA Chairman Lorenzo Bini Smaghi, because most institutions already adjusted their exposure to non-performing loans before the coronavirus crisis. Bini Smaghi made the comments after the Financial Times reported that European Central Bank officials are advocating a “bad bank” to take toxic debt off lenders’ balance sheets. He spoke on “Bloomberg Surveillance.”

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