Economy

xchrom

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22. Most Danish Banks Have Yet to Return to Debt Markets

Mon Jul 21, 2014, 07:23 AM

Jul 2014

http://www.bloomberg.com/news/2014-07-21/most-danish-banks-remain-cut-off-from-wholesale-funding.html

More than half a decade after Denmark’s financial crisis left most of its banks shut out of debt funding markets, the lenders still aren’t selling bonds.

Jan Kondrup, director of Denmark’s Association of Local Banks, says most of the group’s 70 members are meeting their capital requirements through equity. For liquidity, aside from deposit funding, they’re relying on a partnership with Nykredit A/S unit Totalkredit A/S.

“All the banks have a challenge with customers saving and repaying their debt,” Kondrup said in an interview. “A few need to work with their capital structures.”

Denmark has lost more than 60 small and medium-sized banks since 2008. Three years ago, the country became the first in the European Union to force losses onto senior creditors, a development that sent shock waves through funding markets.

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