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Banks Face $5 Trillion Rollover by 2012

By Implode-Explode Heavy Industries

"This Sydney Morning Herald story (hat tip reader Gordon) highlights a Bank of England report that not only points out the magnitude of the financing needs of major banks over the next few years, a daunting $5 trillion, but also indicates that US and European bank refinancings are falling short of their rollover calendar. This suggests that we may witness a combination of balance sheet shrinkage and more covert and overt funding support."

Full post as published by Mortgage Lender Implode-o-Meter on June 30, 2010 (boomark / email).