Banks continue to pass onto the ECB their PIGS risk, but remain deeply exposed.

1. http://marketsandbeyond.blogspot.com/
http://www.pcgwm.com/
Banks’ exposure to PIGS countries
Every quarter, the BIS publishes with a 6 months lag, banks exposure country by country.
I drew a table to compare the evolution from June to September 2010; banks in main
creditor’s countries continued to cut (sell to the ECB) on their exposure in the tune of well
over EUR 100 billion, and there is no reason that this trend not abated since:
However, banks in Germany, France and the UK remain deeply vulnerable with
commitments of over EUR 1 trillion:
Source:
Bank for International Settlements: Consolidated foreign claims of reporting banks
http://www.bis.org/publ/qtrpdf/r_qa1103.pdf#page=72
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